REGISTERED COMPANY NUMBER: 06951099 (England and Wales) REGISTERED CHARITY NUMBER: 1131563
TRUSTEES' REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023
FOR
MADRASAH IMAM BUKHARI (A COMPANY LIMITED BY GUARANTEE)
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
MADRASAH IMAM BUKHARI
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023
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Page
Trustees' Report 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5 to 6
Notes to the Financial Statements 7 to 11
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MADRASAH IMAM BUKHARI
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2023. The trustees have adopted the provisions of 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 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Madrasah Imam Bukhari aims to advance the religion of Islam by providing Islamic education in accordance with the sunni school of thought.
Public benefit
The School provides language and citizenship classes as well encouraging the students to promote racial and religious harmony.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The school provides a unique teaching system with continual assessment for its students and teaching staff. Where on a weekly basis a teaching plan is given to individual teachers and at the the end of the week the students are assessed on what they have been taught through the teaching plan.
The school has a tailored syllabus for its eldest students 12 to 13 year olds where the syllabus is drawn up according to relevance rather than the norm of working through teaching books.
The adult women classes introduced last year which run 4 days a week continued in the year, these were provided on a voluntary basis.
FINANCIAL REVIEW
Reserves policy
The school runs a minimum reserves policy with an aim to offset costs and keep a modest surplus.
The school has had a lower uptake of new students and those completing studies, as well as a number of parents who through financial hardship have been unable to pay fees. Also with overhead costs rising have resulted in a small deficit in the year.
FUTURE PLANS
The Madrasah is planning to increase its intake of students for the future and utilise the spare capacity and continuing to take admissions for nursery classes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 06951099 (England and Wales)
Registered Charity number
1131563
Registered office
159 Loughborough Road Leicester Leicestershire LE4 5LR
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MADRASAH IMAM BUKHARI
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2023
Trustees
Mr Z H Patel Principal and Chair Mr A R Kali Sales Assistant Mr Y Makadam Manager Mr A A Moti Self-employed Mr K A Patel Minister of Religion
Company Secretary Mr K A Patel
Independent Examiner
Nazir Malida FCCA Watergates Ltd 109 Coleman Road Leicester LE5 4LE
Approved by order of the board of trustees on 29th April 2024 and signed on its behalf by:
Mr Z H Patel - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MADRASAH IMAM BUKHARI
Independent examiner's report to the trustees of Madrasah Imam Bukhari ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2023.
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, I report in respect of my 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
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 UK 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.
Nazir Malida FCCA
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
29th April 2024
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MADRASAH IMAM BUKHARI
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023
| 31/8/23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 538 Charitable activities Educational services 103,040 Total 103,578 EXPENDITURE ON Charitable activities Educational services 103,607 NET INCOME/(EXPENDITURE) (29) RECONCILIATION OF FUNDS Total funds brought forward 6,933 TOTAL FUNDS CARRIED FORWARD 6,904 |
31/8/22 Total funds £ 1,015 103,409 104,424 98,443 5,981 952 6,933 |
|---|---|
The notes on page 0 form part of these financial statements
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MADRASAH IMAM BUKHARI
STATEMENT OF FINANCIAL POSITION 31ST AUGUST 2023
| 31/8/23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 368 CURRENT ASSETS Debtors 7 2,317 Cash at bank and in hand 17,750 20,067 CREDITORS Amounts falling due within one year 8 (13,531) NET CURRENT ASSETS 6,536 TOTAL ASSETS LESS CURRENT LIABILITIES 6,904 NET ASSETS 6,904 FUNDS 9 Unrestricted funds 6,904 TOTAL FUNDS 6,904 |
31/8/22 Total funds £ 578 2,491 6,547 9,038 (2,683) 6,355 6,933 6,933 6,933 6,933 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 on page 0 form part of these financial statements
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MADRASAH IMAM BUKHARI
STATEMENT OF FINANCIAL POSITION - continued 31ST AUGUST 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29th April 2024 and were signed on its behalf by:
Mr Z H Patel - Trustee
The notes on page 0 form part of these financial statements
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MADRASAH IMAM BUKHARI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023
1. ACCOUNTING POLICIES
BASIS 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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
Fixtures and fittings - 15% on cost
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.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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MADRASAH IMAM BUKHARI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
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|---|---|---|
|31/8/23|31/8/22|
|£|£|
|Depreciation - owned assets|210|210|
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3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2023 nor for the year ended 31st August 2022.
Mr Z H Patel is a trustee of the Charity in the current and previous year. Mr Z H Patel was paid £11,069 ( 2022 £10,613) for his duties as principal.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31st August 2023 nor for the year ended 31st August 2022.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
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|---|---|---|
|31/8/23|31/8/22|
|Teaching staff|17|16|
|Administrative staff|2|3|
|19|19|
|No employees received emoluments in excess of £60,000.|
|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|
|Unrestricted|
|fund|
|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and legacies|1,015|
|Charitable activities|
|Educational services|103,409|
|Total|104,424|
|EXPENDITURE ON|
|Charitable activities|
|Educational services|98,443|
|NET INCOME|5,981|
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MADRASAH IMAM BUKHARI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023
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5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
RECONCILIATION OF FUNDS
Total funds brought forward 952
TOTAL FUNDS CARRIED FORWARD 6,933
6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1st September 2022 and
31st August 2023 5,159
DEPRECIATION
At 1st September 2022 4,581
Charge for year 210
At 31st August 2023 4,791
NET BOOK VALUE
At 31st August 2023 368
At 31st August 2022 578
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£ £
Trade debtors 2,178 2,357
Prepayments and accrued income 139 134
2,317 2,491
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MADRASAH IMAM BUKHARI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023
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8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£ £
Social security and other taxes 390 506
Other creditors - 26
Wages control account 6,726 10
Accruals and deferred income 6,415 2,141
13,531 2,683
9. MOVEMENT IN FUNDS
Net
movement At
At 1.9.22 in funds 31.8.23
£ £ £
Unrestricted funds
General fund 6,933 (29) 6,904
TOTAL FUNDS 6,933 (29) 6,904
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 103,578 (103,607) (29)
TOTAL FUNDS 103,578 (103,607) (29)
Comparatives for movement in funds
Net
movement At
At 1.9.21 in funds 31.8.22
£ £ £
Unrestricted funds
General fund 952 5,981 6,933
TOTAL FUNDS 952 5,981 6,933
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MADRASAH IMAM BUKHARI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 104,424 104,424 |
Resources expended £ (98,443) (98,443) |
Movement in funds £ 5,981 5,981 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| At 1.9.21 £ Unrestricted funds General fund 952 |
Net movement At in funds 31.8.23 £ £ 5,952 6,904 |
|---|---|
| TOTAL FUNDS 952 |
5,952 6,904 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 208,002 208,002 |
Resources expended £ (202,050) (202,050) |
Movement in funds £ 5,952 5,952 |
|---|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2023.
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