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2023-04-05-accounts

Al-Furqaan Welfare Trust Charity No. 1134327

Report of the Trustees

for the Year Ended 5 April 2023

Al-Furqaan Welfare Trust

Report of the Trustees For the Year Ended 5 April 2023

The Trustees have pleasure in presenting their report for the charity for the year ended 05 April 2023.

Aims and Purpose

The aim is “To relieve poverty, advance education and promote and protect good health in such ways as are charitable within the law of England and Wales and to carry out such other charitable purposes as the trustees shall from time to time consider appropriate”.

Objectives and Activities

In order to achieve this aim, the trustees must apply income generated in the name of the Charity through the following:

Achievements and Performance

– Orphanage & School Kissongo, Tanzania

In line with the charity’s primary objective, the charity in the past year has continued to run and maintain its main project, namely the orphanage and school in Kissongo Village, Tanzania. This facility currently provides the following to 170 orphan children (down from 185 children in the last financial year) on its register:

The charity in the past year assumed responsibility for all the financial expenses incurred by the above activities. In addition to this, the charity assumed financial responsibility for the salaries of all staff including teachers, supervisors, cooks and cleaners and for the repairs and maintenance of the orphanage, school and its grounds.

The school in this year held its annual graduation ceremony on the 19[th] of November. There were 8 students who completed the memorisation of the Qur’an in this year and a competition was arranged between the graduates with locals and guests from Arusha invited to attend. Imam Shoeb, who had travelled to Tanzania from the UK on behalf of the charity, was also in attendance and judged the competition himself with cash prizes awarded to the winners. This was followed by the graduation ceremony for all 8 students. The programme was concluded with a meal being served to all the guests, students and teachers.

– Orphanage & School Dunga, Zanzibar

The Orphanage and school in Dunga has now been running for 4 years at the end of this financial year after opening its doors in April 2019. The charity was responsible for providing the same facilities as it also provides in the orphanage and school in Kissongo which is as follows:

The number of students at the end of this financial year stood at 130, up from 115 students at the end of the last financial year.

The charity in the past year assumed responsibility for all the financial expenses incurred by the above activities. In addition to this, the charity assumed financial responsibility for the salaries of all staff including teachers, supervisors, cooks and cleaners and for the repairs and maintenance of the orphanage, school and its grounds.

The school in this year held its 3rd annual graduation ceremony on the 24[th] of December. There were 3 students who completed the memorisation of the Qur’an in this year and a competition was arranged between the graduates with local scholars and guests invited to attend. Imam Shoeb, who had travelled to Tanzania from the UK on behalf of the charity, was also in attendance and judged the competition himself with cash prizes awarded to the winners. This was followed by the graduation ceremony for all 7 students. The programme was concluded with a meal being served to all the guests, students and teachers.

Other Activities

The charity has continued with the various charitable and educational projects it runs, predominantly around the existing school and orphanage in Kissongo. Some of the more significant of these are as follows:

  1. Continued to support severely deprived ‘single mum families’ in the village of Kissongo with monthly maintenance payments. This has now increased to 150 families, up from 70 families last year.

  2. Continued weekly lessons on health and hygiene and social, educational and spiritual issues for the local women of Kissongo.

  3. Continued to provide water facilities to a number of remote rural settlements.

Issues with transfer of funds to Tanzania & Charity name amendment

The charity has experienced issues with transferring funds to Tanzania via the international banking system for an extended period of time. Due to similar charity names being on the U.S. Office of Foreign Assets Control (OFAC) sanctions list, transfers have routinely been stopped from reaching their destination, i.e. the Charity’s bank account in Tanzania. This has meant that funds have had to be transferred via alternative less secure methods. The charity is keen to resolve this issue and is looking into a suggestion solution wherein the name of the charity is amended so it is not mistaken for other similar named charities moving forward. The trustees have agreed to put forward this motion in the charity’s next AGM.

Financial Review

The charity had brought forward a balance of £680,969.00 of available funds at the start of this financial year. The charity received funds through donations totalling £165,787.00 and incurred expenses amounting to £117,552.00 Therefore, the charity has a balance of £729,204.00 available for its charitable activities at the end of this financial year.

Reserves Policy

It is the intention of the trustees to hold in reserve at least £50,000 of unrestricted funds to ensure that any unforeseen circumstances are addressed effectively.

Volunteers

The charity would like to like place on record its thanks to all volunteers who worked tirelessly during the year to ensure its effective running. Al always, special thanks are in order to the trustees who have utilised their own funds to support the aims and objectives of the charity and to develop relationships with NGO’s in Tanzania.

Structure, Governance and Management

The method of appointing trustees is set out in the charity’s Trust Deed document. The trustees are responsible for making decisions of general concern and importance and for ensuring the needs of the charity’s aims and objectives are met.

Administrative Information

Al Furqaan Welfare Trust has its registered office based at 324 Barnsley Road in Sheffield, South Yorkshire.

The trustees who have served from the date that the charity was first established until the date of this report being approved are:

IV. Mr Mohammed Irshad Akbar of 17 Shirecliffe Lane, Sheffield, S3 9AD, UK

Approved by order of the board of trustees on 04 February 2023 and signed on its behalf by:

Mr Irshad Akbar - Trustee

Al-Furqaan Welfare Trust Charity Reg No. 1134327

Financial Statements

for the Year Ended 5 April 2023

Tyas Shaw & Co Ltd 3-5 Redlands Business Centre Tapton House Road Sheffield. S10 5BY

Al-Furqaan Welfare Trust

Contents of the Financial Statements for the Year Ended 5 April 2023

Page
Trustees Statement 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 to 8
Detailed Statement of Financial Activities 9

Al-Furqaan Welfare Trust

Trustees Statement

The trustees present their report with the financial statements of the charity for the year ended 5 April 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).

Page 1

Independent Examiner's Report to the Trustees of Al-Furqaan Welfare Trust

Independent examiner's report to the trustees of Al-Furqaan Welfare Trust

I report to the charity trustees on my examination of the accounts of Al-Furqaan Welfare Trust (the Trust) for the year ended 5 April 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

umarjanjua

Umar Janjua (ACCA) Tyas Shaw & Co Ltd 3-5 Redlands Business Centre Tapton House Road Sheffield. S10 5BY

04 February 2024

Page 2

Al-Furqaan Welfare Trust

Statement of Financial Activities for the Year Ended 5 April 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
100,431
EXPENDITURE ON
Charitable activities
School/madrassah in Tanzania
117,552
NET INCOME/(EXPENDITURE)
(17,121)
RECONCILIATION OF FUNDS
Total funds brought forward
360,367
TOTAL FUNDS CARRIED FORWARD
343,246		 Restricted
fund
£
65,356
-
65,356
320,602
385,958		 5.4.23
Total
funds
£
165,787
117,552
48,235
680,969
729,204		 5.4.22
Total
funds
£
204,450
97,262
107,188
573,781
680,969

The notes form part of these financial statements

Page 3

Al-Furqaan Welfare Trust

Balance Sheet

5 April 2023

Unrestricted
fund
Notes
£
CURRENT ASSETS
Cash at bank
343,246
NET CURRENT ASSETS
343,246
TOTAL ASSETS LESS CURRENT
LIABILITIES
343,246
NET ASSETS
343,246
FUNDS
5
Unrestricted funds:
General fund
Restricted funds:
Zakaat fund
TOTAL FUNDS		 Restricted
fund
£
385,958
385,958
385,958
385,958		 5.4.23
Total
funds
£
729,204
729,204
729,204
729,204
343,246
385,958
729,204		 5.4.22
Total
funds
£
680,969
680,969
680,969
680,969
360,367
320,602
680,969

The financial statements were approved by the Board of Trustees and authorised for issue on 04 February 2024 and were signed on its behalf by:

Mr Shoeb Desai -Trustee

Mr Irshad Akbar -Trustee

The notes form part of these financial statements

Page 4

Al-Furqaan Welfare Trust

Notes to the Financial Statements

for the Year Ended 5 April 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. 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.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from 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 certain restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for certain restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. GRANTS PAYABLE

GRANTS PAYABLE
5.4.23 5.4.22
£ £
School/madrassah in Tanzania 117,537 97,171

The donations are paid to a School/Madrassah established and operated in Tanzania.

Page 5

continued...

Al-Furqaan Welfare Trust

Notes to the Financial Statements - continued for the Year Ended 5 April 2023

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

5.

INCOME AND ENDOWMENTS FROM
Donations and legacies
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Zakaat fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Zakaat fund
TOTAL FUNDS		 Unrestricted
fund
£
97,608
80,136
280,231
360,367
At 6.4.22
£
360,367
320,602
680,969
Incoming
resources
£
100,431
65,356
165,787		 Restricted
Total
fund
funds
£
£
106,842
204,450
27,052
107,188
293,550
573,781
320,602
680,969
Net
movement
At
in funds
5.4.23
£
£
(17,121)
343,246
65,356
385,958
48,235
729,204
Resources
Movement
expended
in funds
£
£
(117,552)
(17,121)
-
65,356
(117,552)
48,235

Page 6

continued...

Al-Furqaan Welfare Trust

Notes to the Financial Statements - continued for the Year Ended 5 April 2023

5. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 6.4.21 in funds 5.4.22
£ £ £
Unrestricted funds
General fund 280,231 80,136 360,367
Restricted funds
Zakaat fund 293,550 27,052 320,602
TOTAL FUNDS 573,781 107,188 680,969
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 97,608 (17,472) 80,136
Restricted funds
Zakaat fund 106,842 (79,790) 27,052
TOTAL FUNDS 204,450 (97,262) 107,188
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Zakaat fund
TOTAL FUNDS		 At 6.4.21
£
280,231
293,550
573,781		 Net
movement
in funds
£
63,015
92,408
155,423		 At
5.4.23
£
343,246
385,958
729,204

continued...

Page 7

Al-Furqaan Welfare Trust

Notes to the Financial Statements - continued

for the Year Ended 5 April 2023

5. MOVEMENT IN FUNDS - continued

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
Restricted funds
Zakaat fund
TOTAL FUNDS		 Incoming
resources
£
198,039
172,198
370,237		 Resources
Movement
expended
in funds
£
£
(135,024)
63,015
(79,790)
92,408
(214,814)
155,423

6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 5 April 2023.

Page 8

Al-Furqaan Welfare Trust

Detailed Statement of Financial Activities
for the Year Ended 5 April 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Total incoming resources
EXPENDITURE
Charitable activities
Grants to institutions
Support costs
Finance
Bank charges
Total resources expended
Net income		 5.4.23
£
165,787
165,787
117,537
15
117,552
48,235		 5.4.22
£
204,450
204,450
97,171
91
97,262
107,188

This page does not form part of the statutory financial statements

Page 9

Independent Examiner's Report to the Trustees of Al-Furqaan Welfare Trust

Independent examiner's report to the trustees of Al-Furqaan Welfare Trust

I report to the charity trustees on my examination of the accounts of Al-Furqaan Welfare Trust (the Trust) for the year ended 5 April 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

umarjanjua

Umar Janjua (ACCA) Tyas Shaw & Co Ltd 3-5 Redlands Business Centre Tapton House Road Sheffield. S10 5BY

04 February 2024