Hoxton Islah Ltd
Charity No. 1132206
Company No. 06480515
Trustees' Report and Unaudited Accounts
31 January 2024
Hoxton Islah Ltd Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 4 |
| Independent Examiner's Report | 5 to 5 |
| Statement of Financial Activities | 6 to 6 |
| Summary Income and Expenditure Account | 7 to 7 |
| Balance Sheet | 8 to 8 |
| Statement of Cash flows | 9 to 9 |
| Notes to the Accounts | 10 to 16 |
| Detailed Statement of Financial Activities | 17 to 18 |
Page 1
Hoxton Islah Ltd Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 January 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 06480515
Charity No. 1132206
Principal Office
53 Phillipp Street London N1 5PA
Registered Office
53 Phillipp Street London N1 5PA
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
M.A.H. Alam M.Z. Alam M.A. Hussain M.K. Rahman
==> picture [298 x 70] intentionally omitted <==
Accountants
CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London N1 9PF
Bankers
Al Rayan Bank Whitechapel London 97-99 Whitechapel RoadAddress Line 2 Shadwell London E1 1DT
OBJECTIVES AND ACTIVITIES
General Charitable Purposes, Education/training, Religious Activities
TO ESTABLISH OR TO SECURE THE ESTABLISHMENT OF A COMMUNITY CENTRE
Page 2
Hoxton Islah Ltd Trustees Annual Report
TO PROMOTE THE BENEFIT OF THE INHABITANTS OF ISLINGTON AND THE SURROUNDING NEIGHBOURHOOD WITHOUT DISTINCTION OF SEX OR OF POLITICAL, RELIGIOUS OR OTHER OPINIONS BY ASSOCIATING THE LOCAL AUTHORITIES, VOLUNTARY ORGANISATIONS AND INHABITANTS IN A COMMON EFFORT TO ADVANCE EDUCATION AND TO PROVIDE FACILITIES IN THE INTERESTS OF LOCAL WELFARE FOR RECREATION AND LEISURE TIME OCCUPATION WITH THE OBJECT OF IMPROVING THE CONDITIONS OF LIFE FOR THE SAID INHABITATS.
A larger charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...
A larger charity must provide an explanation how the achievement of its aims will further its legal purposes...
A larger charity must provide an explanation of its strategies for achieving its stated aims and objectives...
A larger charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...
A larger charity should provide a more detailed explanation of its short-term and long-term aims and objectives...
ACHIEVEMENTS AND PERFORMANCE
Our funding program contributed and improved after school activities for children and provided prayer facilities for larger group of people.
A larger charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...
A larger charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...
A larger charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...
A larger charity must provide an explanation of any material expenditure occurred to raise income in the future...
A larger charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...
FINANCIAL REVIEW
A review of the charity's financial position at the year ended 31 January 2021
During the financial year 2021, the charity recorded income amounting to £15,296.94 mainly from unrestricted donations. The charity remains satisfactory to support its level of expenditure on the charitable objectives.
There are no uncertainties about the charity's ability to continue as a going concern.
PLANS FOR FUTURE PERIODS
Our plans for the future is to provide more after school activities for the local community and provide services for the elderly.
A larger charity's report should explain the trustees perspective of the future direction of the charity...
Page 3
Hoxton Islah Ltd Trustees Annual Report
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 Companies Act 2006. The Trustees 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 above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
M.A.H. Alam
Trustee 31 January 2024
Page 4
Hoxton Islah Ltd Independent Examiners Report
Independent Examiner's Report to the trustees of Hoxton Islah Ltd
I report to the charity trustees on my examination of the financial statements of Hoxton Islah Ltd for the year ended 31 January 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements 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 financial statements to be reached.
Ali Arif BS'c Hons, FCPA AFA Certified Accountants CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London
N1 9PF 31 January 2024
Page 5
Hoxton Islah Ltd Statement of Financial Activities
for the year ended 31 January 2024
| Notes Income and endowments from: Charitable activities 4 Other 5 Total Expenditure on: Other 6 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ 38,299 - |
Total funds 2024 £ 38,299 - |
Total funds 2023 £ 32,978 1,157 |
|---|---|---|---|
| 38,299 33,543 |
38,299 33,543 |
34,135 29,704 |
|
| 33,543 - |
33,543 - |
29,704 - |
|
| 4,756 - |
4,756 - |
4,431 - |
|
| 4,756 | 4,756 | 4,431 | |
| 4,756 4,656 |
4,756 4,656 |
4,431 225 |
|
| 9,412 | 9,412 | 4,656 |
Page 6
Hoxton Islah Ltd Summary Income and Expenditure Account
for the year ended 31 January 2024
| Income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year |
2024 £ 38,299 38,299 33,543 33,543 4,756 4,756 |
2023 £ 34,135 |
|---|---|---|
| 34,135 | ||
| 29,704 | ||
| 29,704 | ||
| 4,431 | ||
| 4,431 |
Page 7
Hoxton Islah Ltd Balance Sheet
at 31 January 2024
| Company No. 06480515 Notes 2024 £ Fixed assets Tangible assets 8 - Current assets Debtors 9 5,000 Cash at bank and in hand 10,604 15,604 Creditors:Amount falling due within one year 10 (6,192) Net current assets 9,412 Total assets less current liabilities 9,412 Net assets excluding pension asset or liability 9,412 Total net assets 9,412 The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds 9,412 9,412 Reserves 11 Total funds 9,412 |
2023 £ - 16 15,448 |
|---|---|
| 15,464 (10,808) |
|
| 4,656 4,656 |
|
| 4,656 | |
| 4,656 | |
| 4,656 | |
| 4,656 | |
| 4,656 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 January 2024
And signed on its behalf by:
M.Z. Alam Trustee 31 January 2024
Page 8
Hoxton Islah Ltd Statement of Cash flows for the year ended 31 January 2024
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Increase in trade and other receivables Increase/(Decrease) in trade and other payables Net cash provided by operating activities Net cash from investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2024 £ 4,756 (4,984) 1,109 881 - (5,725) (5,725) (4,844) 15,448 10,604 10,604 10,604 |
2023 £ 4,431 (16) (966) |
|---|---|---|
| 2,292 | ||
| 1,157 | ||
| - | ||
| - | ||
| 3,449 | ||
| 11,998 | ||
| 15,447 | ||
| 15,448 | ||
| 15,448 |
Page 9
Hoxton Islah Ltd Notes to the Accounts
for the year ended 31 January 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 10
Hoxton Islah Ltd Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 11
Hoxton Islah Ltd Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 12
Hoxton Islah Ltd
Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Charitable activities Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from charitable activities Voluntary income - donation 5 Other income |
Unrestricted £ 38,299 38,299 |
Unrestricted funds 2023 £ 32,978 1,157 34,135 29,704 29,704 4,431 4,431 4,431 225 4,656 Total 2024 £ 38,299 38,299 Total 2024 £ - - |
Total funds 2023 £ 32,978 1,157 |
| 34,135 29,704 |
|||
| 29,704 | |||
| 4,431 | |||
| 4,431 | |||
| 4,431 225 |
|||
| 4,656 | |||
| Total 2023 £ 32,978 |
|||
| 32,978 | |||
| Total 2023 £ 1,157 |
|||
| 1,157 |
Page 13
Hoxton Islah Ltd Notes to the Accounts
6 Other expenditure
| 6 Other expenditure |
|||
|---|---|---|---|
| Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs 7 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. 8 Tangible fixed assets Cost or revaluation At 1 February 2023 At 31 January 2024 Depreciation and impairment At 1 February 2023 At 31 January 2024 Net book values At 31 January 2024 At 31 January 2023 9 Debtors Other debtors |
Unrestricted £ 13,679 2,510 15,501 1,733 120 33,543 2024 13,462 217 13,679 2024 £ 5,000 5,000 |
Total 2024 £ 13,679 2,510 15,501 1,733 120 33,543 Plant & machinery £ 3,709 3,709 3,709 3,709 - - |
Total 2023 £ 11,898 - 15,705 2,101 - |
| 29,704 | |||
| 2023 11,733 165 |
|||
| 11,898 | |||
| Total £ 3,709 |
|||
| 3,709 | |||
| 3,709 | |||
| 3,709 | |||
| - | |||
| - | |||
| 2023 £ 16 |
|||
| 16 |
Page 14
Hoxton Islah Ltd
Notes to the Accounts
10 Creditors:
amounts falling due within one year
| Other loans Other taxes and social security Other creditors Accruals 11 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Net current assets 13 Reconciliation of net debt Cash and cash equivalents Borrowings Net debt |
At 1 February 2023 4,656 4,656 |
2024 £ - 308 1,284 4,600 6,192 Incoming resources (including other gains/losses ) £ 38,299 38,299 Unrestricted funds £ (467) (467) At 1 February 2023 £ |
Resources expended £ (33,543) (33,543) Restricted funds £ 9,879 9,879 Cash flows £ |
2023 £ 5,725 20 463 4,600 |
|---|---|---|---|---|
| 10,808 | ||||
| At 31 January 2024 £ 9,412 |
||||
| 9,412 | ||||
| Total £ 9,412 |
||||
| 9,412 | ||||
| At 31 January 2024 £ |
||||
| 15,448 | (4,844) | 10,604 | ||
| 15,448 (5,725) (5,725) 9,723 |
(4,844) 5,725 5,725 881 |
10,604 - |
||
| - | ||||
| 10,604 |
Page 15
Hoxton Islah Ltd Notes to the Accounts
14 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| The pension cost charge to the company | ||||
| amounted to: | 217 | 165 |
15 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 16
Hoxton Islah Ltd Detailed Statement of Financial Activities
for the year ended 31 January 2024
| Income and endowments from: Charitable activities Voluntary income - donation Other Total income and endowments Expenditure on: Employee costs Salaries/wages Pension costs Motor and travel costs Travel and subsistence Premises costs Rent Rates Light, heat and power Premises insurances Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Plant & machinery Bank charges General insurances Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs |
Unrestricted funds 2024 £ 38,299 38,299 - - 38,299 13,462 217 13,679 2,510 2,510 9,100 245 2,572 938 1,500 1,146 15,501 - 1,127 - - 606 - 1,733 120 120 33,543 |
Total funds 2024 £ 38,299 38,299 - - 38,299 13,462 217 13,679 2,510 2,510 9,100 245 2,572 938 1,500 1,146 15,501 - 1,127 - - 606 - 1,733 120 120 33,543 |
Total funds 2023 £ 32,978 |
|---|---|---|---|
| 32,978 | |||
| 1,157 | |||
| 1,157 | |||
| 34,135 11,733 165 |
|||
| 11,898 | |||
| - | |||
| - | |||
| 9,100 466 1,917 - 3,275 947 |
|||
| 15,705 | |||
| - - 1,563 240 - 298 |
|||
| 2,101 | |||
| - | |||
| - | |||
| 29,704 |
Page 17
Hoxton Islah Ltd Detailed Statement of Financial Activities
| Hoxton Islah Ltd Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
33,543 - 4,756 4,756 - 4,756 4,656 9,412 |
33,543 - 4,756 4,756 - 4,756 4,656 9,412 |
29,704 - |
| 4,431 | |||
| 4,431 - |
|||
| 4,431 | |||
| 225 | |||
| 4,656 |
Page 18