Registered Charity Number: 1129559 Company number: 06509361
Report of the Trustees and Financial Statements for the Year Ended 28 February 2024
For
Madaniyah Foundation
(A Company Limited by Guarantee)
MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024 CONTENTS OF THE ACCOUNTS
| Page | |
|---|---|
| Report of the Trustees | 01 — 08 |
| Statement of Trustees Responsibilities | 09 |
| Independent Examiners' Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 — 13 |
| Notes to the Financial Statements | 14 — 19 |
| Detailed Statement of Financial Activities | 20 — 21 |
MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Report of the Trustees
Madaniyah Foundation is constituted as a charitable trust registered with the Charity Commission in May 2009 under charity number 1129559.
Organisational structure
The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.
The trustees meet together as a body once every 2 months and are responsible for all decisions taken in relation to running the school and the activities provided by the charity.
Recruitment and appointment of trustees
The existing trustees are responsible for the recruitment of new trustees, but in doing so the trustees seek the views and recommendations of both elders and community leaders. The trustees believe this approach ensures that new trustees are respected members of the local communities and ensures that good relations are fostered between the School and the people of the local community that we serve.
In selecting new trustees, we seek to identify people who are linked to the school, i.e. parents of pupils and those who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees’ meetings as observers and are given more details of the charities aims and, if all agree, they are then proposed as new trustees. This process allows due consideration of the persons eligibility, personal competence, specialist knowledge and skill.
Induction and training of trustees
Following appointment, new trustees are introduced to their new role and given copies of the trust deed and a guide to the policies and procedures adopted by our charity. A number of publications from the Charity Commission are also provided including the guidance on charities and public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act. Initially, new trustees work with an existing trustee assisting on particular activities and projects run by the charity. Trust Deed is adhered to by all Trustees.
Risk Management
The trustees have assessed the risks the charity faces and have drawn up a risk assessment which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening and the measures taken to manage them. The trustees review this risk assessment regularly at their meetings. The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks that have been identified. Appropriate Disclosure and Barring Service (DBS) checks,
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
REPORT OF THE TRUSTEES (CONTINUED)
supported by regularly reviewed policies, are made for all those who work with children or other vulnerable groups within the School.
Objectives and activities – Our aims
The objects of the charity are set and are summarised as follows:
To advance basic Islamic education as well as the Early Years Foundation Stage Curriculum to young people and children. To facilitate and promote the advancement of education, in partnership with parents for their future life in Modern Britain.
To provide an environment where children and young adults are taught in a safe, Islamic manner which promotes the spiritual, moral, social and cultural aspect of their lives.
Our long-term ambition is to promote Islamic attitudes of respect, tolerance and responsibility through the provision, maintenance, activities and management of Madaniyah Foundation.
Our objectives
Our objectives are set to reflect our faith and community aims. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Strategies
We want to make our Institute an accessible and welcoming venue where young people and children, or those who wish to know more about our faith, can gather to pray, learn about their religion and worship. The Institution is open daily from 8.30am till 7.00pm with supplementary classes.
At our ‘know Islam better’ events we share the teachings of Islam and the nature of our faith with people of other faiths. An important part of our strategy is community welfare specially to look after children and young people in the Community.
Activities and achievements
Madaniyah Foundation is an educational establishment aimed at providing high quality academic education in combination with classical Islamic culturing. The institution firmly believes, through nurturing and a positive enjoyable approach to learning; every child can achieve a high standard of academic progress.
A small teacher to pupil ratio allows the teacher to achieve both a high level of academic achievement and string Islamic personality in each child.
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
REPORT OF THE TRUSTEES (CONTINUED)
The School Curriculum
At Madaniyah Foundation, we believe a strong and successful start is important for all pupils regardless of background. To do this, we use four guiding principles:
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Every child is a unique child , who is constantly learning and can be resilient, capable, confident and self-assured;
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Children learn to be strong and independent through positive relationships;
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Children learn and develop well in enabling environments, in which their experiences respond to their individual needs and there is a strong partnership between teachers and parents and/or carers; and
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Children develop and learn in different ways and at different rates. The framework covers the education and care of all children in early years provision, including children with special educational needs and disabilities.
We are also guided by our setting’s core values:
Resilience
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First hand experiences, play, talk and an engaging environment are the main ways through which young children learn about themselves, other people and the world around them.
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Children need opportunities to take responsibility for their own learning by making choices, enjoying success and feeling safe to make and learn from mistakes.
Reflection
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Teachers should support and extend children’s learning through purposeful observation, evaluating activities and by appropriate interaction.
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Effective practice requires teachers who have a secure understanding of child development and the ability to plan, deliver and evaluate a broad, balanced and relevant provision that meets the legal requirements of the Early Years Foundation Stage document and the needs of the individual.
Responsible
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Opportunities will be given to celebrate the achievements of every child.
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High expectations for behavior are established through positive praise, adults as role models, 3D PSHE and our golden rules. Ready, Respectful, Safe.
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Teachers will work in partnership with parents/carers, who are their child’s first educators, to share knowledge and expertise.
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REPORT OF THE TRUSTEES (CONTINUED)
At Madaniyah Foundation we believe that education provides the essential tools for lifelong learning. To achieve this, we believe our curriculum must have a clear emphasis on creativity. This means that what we teach and how we teach it will allow children to experience the joy of discovery, solving problems, risk-taking, active participation in the arts, thereby developing their self-confidence as independent learners, maturing spiritually, socially and emotionally. In order for our pupils to be able to achieve their full potential, we aim to provide a well-planned curriculum and excellent, inspirational teaching.
Here at Madaniyah Foundation, we are committed to providing a broad, balanced, inclusive and accessible curriculum that affirm each pupils’ entitlement to high quality learning experiences.
In the light of this, we have taken on the exciting and truly creative Dimensions Curriculum. As experts in curriculum design, Dimensions are able to confidently support schools like ours, in developing and implementing a curriculum model that is truly fit for our unique purpose. All statutory requirements of the early years framework are mapped in with Dimensions to ensure complete coverage through both thematic and discrete teaching of subjects. This curriculum is both knowledge rich and skills-based, providing the perfect blend of learning for pupils in a fast-changing and interdependent world. You can see in more detail what this looks like on our curriculum overview.
Nursery Facilities: Songs and rhymes, Arts and crafts, Painting, Free play, Ball games, Baking, Games, Parties, Friendly environment, Story Telling, Heuristic play, Healthy Eating, Gardening, Physical play, Bookcorner, Phonics, Bikes, CCTV, Play equipment indoor and outdoor, Indoor play, Playground, large open plan space, Train tracks, Cooking, Train set, Construction, Toys for mixed abilities, Read write inc activities, Various toys for indoors and outdoors, Puzzles, Creative play, Creative area, Craft activities, Messy play, Reading corner, Water Play, Reading, Visits to the park, Maths, Malleable play, Visits and outings, Dolls, Doll houses, Refreshments, Role play, Dressing up, Educational toys, Sand and water play, Early Learning Goals Teaching, Numeracy and literacy area, Numeracy, Sensory play, Out-door play, EYFS, Small world area.
At Madaniyah Foundation we are working towards the children achieving most aspects of the Early Years Foundation Stage curriculum by the end of the foundation stage. We are working with local nurseries, Newham council as well as our own Nursery to identify the children’s developing knowledge, skills, understanding and attitudes to learning, using the development areas. Once the children are of Reception age we use this prior knowledge to continue to identify and track the children’s progress through the Foundation Stage. We take on feedback from Key Stage 1 to continue the children’s development through the Foundation Stage and on to the National Curriculum. We aim to make the transition from the Foundation Stage to
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
REPORT OF THE TRUSTEES (CONTINUED)
Key Stage 1 as smooth as possible, by sharing information gathered within the foundation stage and continuing the learning for the children as individuals. We aim for all of our children to leave Madaniyah Foundation respectful, skillful, ambitious and with a thirst for life and all it has to offer.
Interfaith dialogue
Our school is an active member of the Faith Communities. We use this platform to promote interfaith dialogue and social cohesion.
Extra Supplementary/Language Classes
We have classes that teach how to pray, methods for fasting, perform pilgrimage and basic Memorisation of the Qur’an is considered an important element of Islamic Education and training. We continue to provide this facility for the young people in the community.
Charity events
The Institution holds annual Charity Fundraisers to support facilities provided by the institution. These events are planned by the Board of Trustees. The school and supplementary classes organise and promote the event that is taking place.
School Trips/ Activities
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Farm – the children visited the local farm and observed many animals, they were given the opportunity to feed and stroke the animals
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Nature walks to local parks and feeding ducks - the children enjoyed a nature walk collecting autumn themed collectables such as conkers, autumn leaves, sticks etc
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- Outdoor nature walk to look out for and observe animals - Themed week such as police officers, doctors, fireman and dentist visits from professionals.
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- Fire station visit: our children had the opportunity to visit East Ham fire station, they were able to listen to safety advice from the fire fighters, try the special equipment, squirt water, sit in the fire truck and try the loud emergency siren.
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Story focus weeks such as Goldilocks and the three bears, Gruffalo, the Zoo, We`re going on a bear hunt etc
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Legoland theme park: the children enjoyed a day put with Nursery family and friends on the different rides. The children used lego to create different modals of choice using creativity securing the gross motor skills (EAD/PD)
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- Cultural day - the children dressed in their cultural clothing and spoke about their culture. They also brought in cultural food to share. Postal Museum: the children explored the fascinating history of the post - one of the greatest British inventions and the earliest social network. The children also experienced a Mail Rail ride - a small underground train revealing the story of London's postal services. Additionally, there was a 45- minute session with Sorted! The Postal Play Space, offering an immersive experience in a mini-town with streets, buildings, trolleys, pulleys, slides and chutes.
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REPORT OF THE TRUSTEES (CONTINUED)
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Hajj exhibition: Teachers created an airport experience for children visiting another country. The school was transformed into different areas of the country allowing the children to experience the feeling of travelling and setting off on a journey. The day ended with a celebrating assembly with parents joining and children showcasing their learning.
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Sealife - As part of our under the sea topic the children went to a trip to the London sea life aquarium. Visiting the amazing life under water including penguins, crocodiles and touching starfish.
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Graduation day: On this day the teachers, parents and carers appreciated the children`s hard work, trophies, rewards, certification, awards and attainments. Reception children completed their early years journey and we closed off with an enjoyable memorable party.
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The school annually hold a sports day to promote and encourage good health, exercise and wellbeing. The pupils look forward to this day and get into the competitive spirit and advance on their sportsmanship. Sports day takes place our local park (Plashet Park). This year’s sports day will be held at the end of the summer term.
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Community Eid event - with henna, bouncy castle, face painting, cupcake decoration, special food and toys and games
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Special achievement Assembly
Training
This year a number of online and centre based training opportunities were given to both teachers and leaders to develop and extend on skills within their field.
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Annual Health and safety course completed by senior leaders by tutor care.
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Paediatric First aid course covered by all members of staff
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level 3 Senco training
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Updated Level 3 Safeguarding trainings covered by senior leaders (In a centre)
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Members of staff are now in their second year with the Level 3 Childcare course
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Safeguarding Leaders have attended online LSCB meetings, (exposure to extremism training course, protecting children and young people from harm, introduction to safeguarding).
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The staff members undertook a certified online training on ‘Safeguarding level 2 and Prevent Duty`
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Annual fire safety qualified officers reviewed all fire extinguishers and modified any according to electrical equipment.
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Trainings via the local authority such as Nursery management and portal training
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Termly Manager forum meetings with local Nursery leaders via zoom
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Senco forum trainings and updates
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Pathway to Quality meetings and submission of evidence
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Termly Visits from the Early Years Quality Improvements Manager via the local authority
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
REPORT OF THE TRUSTEES (CONTINUED)
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We are participating in a Communication project to develop the communication skills and practice for early years children. ECAT training (communication skills)Phonic Read Write Inc training completed by teachers
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Math mastery training completed by teachers
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Oral health training
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All staff have had a new DBS carried out and are on the update service
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Safer recruitment training and Positive behaviour management training.
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We have participated in the communication project managed by Sherringham Nursery school
Refurbishments
During the period, the premises underwent following refurbishment works;
1. Home office application on Safety and security of independent schools fitted new CCTV cameras covering all areas of the premises
2. AC fitted in the classrooms
3. New Gate mechanism with camera
4. A new educational space proposed for the use of extracurricular activities and Nursery including building a classroom, new garden space and plant area;
5. Rear made stronger and rendered
6. New class at rear
7. Carpet for new class tiled painted and carpeted
8. Artificial grass at rear
9. Artificial grass at new garden.
10. New garden/fences/ plant area
11. New access to new area from nursery class
12. New double glazing door for entry in to new area and new class and rear door
13. Repainting and Gloss of wooden doors
14. Fire safety checks - renewing fire extinguishers
Funding sources
We visit other community centres and mosques in and around UK and seek permission to hold fundraising events annually. We also visit house to house collection to promote our activities at the institution.
Plans for future periods
We intend to extend the area between No. 80 and 86 Stafford Rd to construct a purpose built premises for all our activities currently being provided.
We aim to maintain our existing range of community activities. We continue to place a great importance on sharing a good understanding of Islam with our other faith neighbours whilst gaining an understanding of their culture and traditions.
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
REPORT OF THE TRUSTEES (CONTINUED)
Reference and administrative Details
| England and Wales Charity Number: | 1129559 |
|---|---|
| Company Number: | 06509361 |
| Trustees: | Sohaib Ismail Khankhara (chair) |
| Hanif Ismail Mohamed | |
| Altaf Patel | |
| Aneesa Khankhara | |
| Registered Office: | 80 - 86 Stafford Rd, |
| Forest Gate, London | |
| E7 8NN | |
| Accountants | Qazi & Son’s Accountant Ltd |
| 1-3 Jewel Road, | |
| London, E17 4QX | |
| Walthamstow, | |
| Bankers | Barclays Bank Pic |
| Edgware Road | |
| London W2 2HZ | |
| Al Rayan Bank Plc | |
| 77-79 Edgware Road | |
| London W2 2HZ | |
| Starling Bank | |
| 5th Floor, London | |
| Fruit and Wool Exchange, | |
| 1 Duval Square | |
| E1 6PW |
Approved by order of the board of trustees on………............ and signed on its behalf by:
……………………………………. Trustee
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
REPORT OF THE TRUSTEES (CONTINUED)
Statement of trustees` responsibilities
The charity trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently: observe the methods and principles in the charities SORP;
Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees for the purpose of charity law who served during the year and up to the date of this report are set out on page 1.
Approved by the trustees and signed on its behalf by:
Sohaib Ismail Khankhara (Chair)
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Independent Examiner's Report to the Trustees of Madaniyah Foundation
Independent examiner's report to the trustees of Madaniyah Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2024
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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The accounts do not accord with those records; or
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The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the VK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Qazi & Son’s Accountant Ltd 1-3 Jewel Road, London, E17 4QX Walthamstow
Date:…………………………………
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
STATEMENT OF FINANCIAL ACTIVITIES
| Notes Unrestricted Funds Restricted Fund 2024 Total 2023 Total Income Donations Donations and legacies 211,699 211,699 246,585 Charitable activities Charitable activities Investment income Unrealized Gain on Fixed Asset 2 - - - - 15,980 - Total income 211,699 - 211,699 262,565 Expenditure Raising funds 65,387 - 65,387 64,561 Charitable activities Support Costs 1,200 - 1,200 1,478 Charitable activities 28,818 - 28,818 43,449 Other - - - - Total 95,405 - 95,405 109,488 Net income 116,294 - 116,294 153,078 RECONCILATION OF FUNDS Total funds brought forward 1,434,303 1,434,303 1,281,226 TOTAL FUNDS CARRIED FORWARD 1,550,597 - 1,550,597 1,434,303 |
Notes Unrestricted Funds Restricted Fund 2024 Total 2023 Total Income Donations Donations and legacies 211,699 211,699 246,585 Charitable activities Charitable activities Investment income Unrealized Gain on Fixed Asset 2 - - - - 15,980 - Total income 211,699 - 211,699 262,565 Expenditure Raising funds 65,387 - 65,387 64,561 Charitable activities Support Costs 1,200 - 1,200 1,478 Charitable activities 28,818 - 28,818 43,449 Other - - - - Total 95,405 - 95,405 109,488 Net income 116,294 - 116,294 153,078 RECONCILATION OF FUNDS Total funds brought forward 1,434,303 1,434,303 1,281,226 TOTAL FUNDS CARRIED FORWARD 1,550,597 - 1,550,597 1,434,303 |
Notes Unrestricted Funds Restricted Fund 2024 Total 2023 Total Income Donations Donations and legacies 211,699 211,699 246,585 Charitable activities Charitable activities Investment income Unrealized Gain on Fixed Asset 2 - - - - 15,980 - Total income 211,699 - 211,699 262,565 Expenditure Raising funds 65,387 - 65,387 64,561 Charitable activities Support Costs 1,200 - 1,200 1,478 Charitable activities 28,818 - 28,818 43,449 Other - - - - Total 95,405 - 95,405 109,488 Net income 116,294 - 116,294 153,078 RECONCILATION OF FUNDS Total funds brought forward 1,434,303 1,434,303 1,281,226 TOTAL FUNDS CARRIED FORWARD 1,550,597 - 1,550,597 1,434,303 |
|---|---|---|
| 211,699 - 211,699 262,565 |
||
| 65,387 - 65,387 64,561 1,200 - 1,200 1,478 28,818 - 28,818 43,449 - - - - 95,405 - 95,405 109,488 116,294 - 116,294 153,078 1,434,303 1,434,303 1,281,226 1,550,597 - 1,550,597 1,434,303 |
The notes form part of these financial statement
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
BALANCE SHEET
| Notes Fixed assets Tangible assets Investment Property 7 8 Current assets Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 Net assets FUNDS 13 Unrestricted funds Restricted funds Total funds |
2024 Total 2023 Total 528,410 500,000 528,438 500,000 |
|---|---|
| 1,028,410 1,028,438 670,466 (5,050) 552,944 (3,850) |
|
| 665,416 1,693,826 549,094 1,577,532 (143,228) (143,228) |
|
| 1,550,598 1,434,304 |
|
| 1,548,056 2,542 1,431,762 2,542 |
|
| 1,550,598 1,434,304 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company,
The notes form part of these financial statements
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Balance Sheet - continued
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small company’s regime.
The financial statements were approved by the Board of Trustees and authorized for issue on …………… and were signed on its behalf by:
…………………………… Trustee
The notes form part of these financial statements
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting policies
Basic of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the VK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life .
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Continue…
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2. INVESTMENT INCOME
| INVESTMENT INCOME | |
|---|---|
| Rent received | Total Total 2024 2023 £ £ |
| - 15,980 |
3. NET INCOME / (EXPENDITURE)
Net income /(expenditure) is stated after charging / (crediting) :
Depreciation – owned assets |
Total Total 2024 2023 £ £ |
|---|---|
| 28 36 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2024 nor for the period ended 28 February 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2024 nor for the period ended 28 February 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
28TH FEB 2024
| INCOME AVD ENDOWMENTS FROM Donations and legacies Charitable activities Charitable activities Investment income Total |
Unrestricted Restricted 2023 Funds Fund Total 95,388 - 95,388 37,421 - 37,421 8,183 - 8,183 |
|---|---|
| 140,992 - 140,992 |
Continued…
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 28TH FEB-2024 Continued
| EXPENDITURE ON Raising funds Charitable activities Support costs Charitable activities Other NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
64,561 - 2,991 2,650 - 2,650 43,956 - 43,956 - - - |
|
|---|---|---|
| 117,167 - 55,597 |
||
| 23,825 - 85,395 |
||
| 1,195,830 - 1,195,830 1,219,655 - 1,281,225 |
||
6. KEY MANAGEMENT PERSONEL
Key Management Personnel comprises of the Board of Trustees.
Continued ….
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Notes to the Financial Statements - continued
7. TANGIBLE FIXED ASSETS
| Fixed Assets Cost At 28 February 2023 Additions At 28 February 2024 Depreciation At 28 February 2023 Charge for the year At 28 February 2024 Net book values At 28 February 2024 At 28 February 2023 |
Freehold Plant & Total property Machinery 528,296 3,121 531,417 - - - |
|---|---|
| 528,296 3,121 531,417 2,979 2,979 28 28 |
|
| - 3,007 3,007 |
|
| 528,296 114 528,410 528,296 142 528,438 |
8. INVESTMENT PROPERTY
The investment property is stated at their fair value determined by trustees.
Continued ...
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Notes to the Financial Statements - continued
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| . CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.24 Accrued expenses 5,050 5,050 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below Amounts falling due in more than five years: Karzi Hasana 12. MOVEMENT IN FUNDS Net At 01-03-2023 Movement in Funds Unrestricted funds £ £ General fund 1,431,761 116,294 Revaluation reserve - - 1,431,761 116,294 Restricted Funds Restricted fund 2,542 1,434,303 **116,294 ** |
. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.24 Accrued expenses 5,050 5,050 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below Amounts falling due in more than five years: Karzi Hasana 12. MOVEMENT IN FUNDS Net At 01-03-2023 Movement in Funds Unrestricted funds £ £ General fund 1,431,761 116,294 Revaluation reserve - - 1,431,761 116,294 Restricted Funds Restricted fund 2,542 1,434,303 **116,294 ** |
. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.24 Accrued expenses 5,050 5,050 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below Amounts falling due in more than five years: Karzi Hasana 12. MOVEMENT IN FUNDS Net At 01-03-2023 Movement in Funds Unrestricted funds £ £ General fund 1,431,761 116,294 Revaluation reserve - - 1,431,761 116,294 Restricted Funds Restricted fund 2,542 1,434,303 **116,294 ** |
. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.24 Accrued expenses 5,050 5,050 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below Amounts falling due in more than five years: Karzi Hasana 12. MOVEMENT IN FUNDS Net At 01-03-2023 Movement in Funds Unrestricted funds £ £ General fund 1,431,761 116,294 Revaluation reserve - - 1,431,761 116,294 Restricted Funds Restricted fund 2,542 1,434,303 **116,294 ** |
. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.24 Accrued expenses 5,050 5,050 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below Amounts falling due in more than five years: Karzi Hasana 12. MOVEMENT IN FUNDS Net At 01-03-2023 Movement in Funds Unrestricted funds £ £ General fund 1,431,761 116,294 Revaluation reserve - - 1,431,761 116,294 Restricted Funds Restricted fund 2,542 1,434,303 **116,294 ** |
28.2.24 5,050 |
|
|---|---|---|---|---|---|---|
| 5,050 | ||||||
| 1,431,761 | 116,294 | |||||
| 2,542 | ||||||
| 1,434,303 | **116,294 ** |
Continued ...
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Notes to the Financial Statements - continued
| Net movement in funds, included in the above Unrestricted funds Revaluation reserve Restricted funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Revaluation reserve Restricted Funds Restricted fund TOTAL FUNDS |
are as follows: Incoming Resources Movement resources expended in funds 211,699 (95,405) 116,294 - - - 211,699 (95,405) 116,294 - - - 211,699 (95,405) 116,294 At 01-03-2022 Net Movement in Funds At 28-02- 2023 £ £ £ 1,278,684 153,078 1,431,761 - |
are as follows: Incoming Resources Movement resources expended in funds 211,699 (95,405) 116,294 - - - 211,699 (95,405) 116,294 - - - 211,699 (95,405) 116,294 At 01-03-2022 Net Movement in Funds At 28-02- 2023 £ £ £ 1,278,684 153,078 1,431,761 - |
|---|---|---|
| 211,699 (95,405) 116,294 - - - |
||
| 211,699 (95,405) **116,294 ** |
||
| At 01-03-2022 Net Movement in Funds At 28-02- 2023 £ £ £ 1,278,684 153,078 1,431,761 - |
||
| 1,278,684 153,078 1,431,761 2,542 - 2,542 |
||
| 1,281,226 153,078 1,434,303 |
13. RELATED PARTY DISCLOSURES
The amount of loan by trustees to the charity is £143,228 (2023; £143,228)
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MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Detailed Statement of Financial Activities
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Charitable activities Grants Unrealised Gain on Fixed Asset Gain on revaluation of assets Total incoming resources EXPENDITURE Raising donations and legacies Direct Cost Charitable activities Rates and water Light and heat Insurance Postage and stationery Salaries School expenses Repairs & renewals Plant and machinery Bank loan interest |
28-02-2024 28-02-2023 £ £ 211,699 144,612 - 15,980 - 101,973 - - |
|---|---|
| 211,699 262,565 65,387 64,561 1,232 1,605 5,713 3,273 - - - 917 - 2,600 - 330 21,844 34,520 28 36 - 28,818 43,281 |
This page does not form part of the statutory financial statements
20
MADANIYAH FOUNDATION FOR THE YEAR ENDED 28 February 2024
Detailed Statement of Financial Activities
| Charitable activities Other Support costs Finance Bank charges Governance costs Accountancy fees Legal & Professional Total resources expended Net income |
- - - 168 1,200 1,200 - 278 |
|---|---|
| 95,405 109,488 |
|
| 116,294 153,078 |
This page does not form part of the statutory financial statements
21