AL QURAN ACADEMY LONDON
Registered Charity Number 1135391
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
| Page | |
|---|---|
| Report of the Trustees | 1 - 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 9 |
| Independent Examiner's Report | 10 |
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 30 JUNE 2021
The Trustees present their report and financial statements for the year ending 30 June 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' Act 2011.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Name Al Quran Academy London Registration Number 1135391
Trustees
Hafiz Munir Uddin Ahmed Chairman Khadija Akhter Rezayee Ahmed Vice Chairman
Khadija Akhter Rezayee Ahmed
Meena Kadir
Dr M. Fozlul Kadir Sayeda Sumaya P. Ahmed
Independent Examiner
aab Accountants Limited, MAAT 72 South View Drive London E18 1NS.
Bankers
NatWest
145 Clapham High Street London SW4 7SN Sort Code 60-05-34 Account No. 23637854
Al Quran Academy London - Trustee Annual Report & IER 2020/21
Page 1
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Al Quran Academy London is constituted as a Charitable Trust, registered with the Charity Commission on 8 April 2010. It is controlled by its governing document, a deed of trust dated 8 April 2009.
Induction and training of new trustees
New Trustees are given a full induction. Trustees can retire when they wish as they do not serve under a fixed term of tenure. The Board of Trustees has overall control of the charity's activities and meets on regular basis.
Risk management
The Trustees are responsible for the management of risks faced by the charity. The Trustees have undertaken a full risk assessment of the organisation and have introduced various key controls. These controls are reviewed annually. The Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
OUR OBJECTIVES AND HOW WE DELIVER THEM
Aims
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To advance the Islamic faith through the promotion of teaching, publishing and distributing the Islamic holy scripture and other authentic Islamic theological literature;
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To promote the correct and authentic teachings of the Islamic Religion to those who wish to receive them;
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To create awareness of the correct teachings of the Islamic faith and scripture, thereby helping to eradicate misconceptions and superstitions stemming from lack of knowledge
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To help relieve poverty throughout the world by supporting humanitarian projects when necessary.
Strategies
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Printing and publishing copies of the Holy Quran with translation in various languages, for free distribution worldwide
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Researching and publishing Islamic literature to aid in understanding the true peaceful message of Islam and the Quran, also for free distribution
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Holding awareness events in major cities across the world
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Hosting annual community events such as the National Quran Conference and the Islamic Book Fair
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Responding to the spiritual needs of people affected by poverty, incarceration, natural or man made disasters or community tragedies by offering free copies of the Holy Quran
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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HOW OUR ACTIVITIES DELIVER PUBLIC BENEFITS.
Al Quran Academy London aims to advance education in the Islamic faith and strives to achieve this primarily by distributing free books and literature. The organisation has done this by publishing the Holy Quran with translation in various languages and distributing these copies free of cost in many countries of the World including India, Nepal, Bangladesh, UK, Malaysia, and also many European countries. Although the organisation aims to provide a copy of the Holy Quran anyone who requests one, it also undertakes proactive Quran Distribution amongst many groups in society such as students, prisoners, disadvantaged population as well as the general public through community distribution events and programmes.
The Organisation has also regularly held awareness events across the world, including an annual Quran conference which helps to engage people and bring them closer to the correct Islamic teachings of peace and social harmony. Social community events such as these have especially benefitted the local communities in which they are held. Al Quran Academy London also sponsors an annual Islamic Book Fair in which members of the local community (usually in London) are encouraged to read and browse through a wealth of Islamic books and literature that are showcased and kept on display.
MAIN ACHIEVEMENTS OF THE CHARITY DURING THIS PERIOD
This year has continued under the restrictions and limitations brought about by the global pandemic and our work and activities have required adjusting to the uncertain circumstances. Al Quran Academy London has continued to tread ahead with caution and prudence but has built on the experiences gained from the initial stages of the pandemic
Since the beginning of the pandemic, cash donations and visits to the office had severely decreased. We adapted to this change by leaving our physical premises in order to save on the monthly rent and other premises costs. We stepped up our efforts in working effectively from home, managing requests for free Qurans and other activities remotely. The organisation’s own online donation service through its website has been quite successful in bringing donations, as well as through our other platform presence. Towards the latter stage of this period, we are looking at potential office space where we can resume our normal service when the situation allows.
During this period we have been able to add a new translation in Hindi to our Free Quran range. This addition has brought our Free Quran catalogue to translations in six different languages; English, Bengali, Urdu, Nepali, Spanish, and now Hindi. The translation is currently in the proofing stage and the printing and production will be carried out in India by specialists in the Hindi language.
As always, live TV fundraising appeals have been the main source of income for Al Quran Academy London. During this period we have held many TV appeals and the response has been very good. We also successfully held a televised fundraising event exclusively for Qurans to be distributed in the continent of Africa. Despite the difficulties people have been facing during these uncertain times, it is heart-warming to note that donations have not decreased at all.
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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The social restrictions caused by the pandemic have been present in almost all countries across the world. Therefore we have not been able to carry out as many public Quran distribution events as we usually do. Regrettably, we have also had to cancel our popular Islamic Book Fair for the second year in a row. Despite this, Al Quran Academy London has still kept the mass printing of Qurans for free distribution ongoing. Through local partners in numerous countries, we have been able to distribute a huge number of Qurans and we hope to be able to continue distributing many more.
In line with our educational objectives, we have also begun the groundwork for establishing an Islamic Library in Dhaka, Bangladesh. We hope that it will house a wealth of Islamic literature covering the major topics of study, to benefit poor students and researchers who do not have access to these levels of knowledge. We hope that by enabling this access to knowledge, we will help create a learned and well-informed generation of Islamic scholars that can preach the true Islamic ideals of peace and harmony.
In February 2021, the two founding trustees of Al Quran Academy London, namely the founding Chairman Hafiz Munir Uddin Ahmed and Khadija Akhter Rezayee, both contracted Covid and were severely affected by the virus. After their eventual recovery, the founding Chairman has felt that the trustee board should add a few new members so that the organisation can continue its good work well into the future. The search for new trustees is ongoing and we hope to add a fresh outlook to this organisation in the very near future.
The trustees are of the opinion that the limited funds received from donations has achieved its objective to its maximum and the general public has benefited as far as possible. The Trustees will endeavour to continue towards its objectives in the future, tirelessly.
STATEMENT OF TRUSTEES' RESPONSIBILITIES.
The Charities Act requires the trustees to prepare financial statements for each financial year to give a true and fair view of the state of the Charity's affairs, as well as of the Charity's surplus or deficits for that period.
In preparing these financial statements, the Trustees have:
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Selected suitable accounting policies and then applied them consistently;
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Made judgements and estimates that are reasonable and prudent;
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Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepared the financial statements on a going concern basis.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the Charity so as to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity by taking reasonable steps for the prevention of fraud and other irregularities.
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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ACCOUNTANTS
The Trustees will be recommending at the next Meeting that the firm of aab Accountants Limited be reappointed as Accountant and Independent Examiner of the Charity.
BY ORDER OF THE BOARD OF TRUSTEES
Hafiz Munir Uddin Ahmed Chairman 4 April 2022
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 30 JUNE 2021.
| Notes 2021 £ Resources received Restricted Donations (Restricted) 1 365,165 Grant on Wages paid 19,089 -------------- Total incoming resources 384,254 Resources expended Printing cost 78,248 162,899 Distribution cost 11,084 8,874 Salaries & call centre cost 33,526 32,545 Consultancy fees 4,829 4,985 Publicity and Advertising 93,989 54,351 Rent, insurance & utilities 12,385 20,835 Phone, internet & website 2,370 3,304 Repairs and renewals 429 30 Printing & stationery 546 777 Bank and finance charges 757 2,035 Travel Cost 1,074 2,137 General Expenses 3,600 6,256 Accountancy & Independent Report 740 1,200 Depreciation 1,076 425 ------------- ----------- Total Resources Expended 244,653 -------------- Net Surplus/ (Deficit) 139,601 Surplus funds brought forward 85,170 -------------- Surplus funds carried forward 224,771 ======== |
2020 £ Restricted 336,549 6,578 -------------- 343,127 300,448 ------------ 42,679 42,491 ------------ 85,170 ======= |
|---|---|
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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BALANCE SHEET AS AT 30 JUNE 2021.
| Notes | 2021 | 2021 | 2020 | ||
|---|---|---|---|---|---|
| Restricted | Restricted | ||||
| £ | £ | £ | £ | ||
| FIXED ASSETS | 2 | 15,367 | 1,398 | ||
| CURRENT ASSETS | |||||
| Sundry Debtors | 1,168 | 1,270 | |||
| Cash at Bank & in hand | 212,914 | 88,498 | |||
| ------------ | ------------- | ||||
| 212,082 | 89,768 | ||||
| CREDITORS : AMOUNTS FALLING | |||||
| DUE WITHIN ONE YEAR | |||||
| 4 | 4,678 | 5,996 | |||
| ------------ | ------------- | ||||
| NET CURRENT ASSETS | 209,404 | 83,772 | |||
| CREDITORS : AMOUNTS FALLING | |||||
| DUE OVER ONE YEAR | |||||
| 0 | 0 | ||||
| ------------ | -------------- | ||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | |||||
| 224,771 | 85,170 | ||||
| ======== | ========= | ||||
| CAPITAL & RESERVES | |||||
| Restricted Funds | |||||
| 224,771 | 85,170 | ||||
| ======== | ========= |
These financial statements were approved by the Board of Trustees on 4[th] of April, 2022.
Signed on behalf of the Board of Trustees
M U Ahmed Chairman
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 30 JUNE 2021.
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
These accounts have been prepared under the Charities Act 2011 on the historical cost convention and in accordance with the Statement of Recommended Practice on Accounting and Reporting by Charities: The SORP (FRS 102).
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources can be measured with sufficient reliability.
Resources expended
Expenditure is accounted for on accrual basis. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff, time or space occupied, as appropriate.
The irrecoverable element of VAT is included with the item of expenses to which it relates. Governance costs comprise the cost associated with meeting the constitutional and strategic aims of the charity and the accountancy fees and costs linked to strategic management of the charity.
Fund Accounting
Restricted funds are 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. Unrestricted funds are used in accordance with the charitable objectives at the discretion of the Trustees.
TAXATION : The Company by virtue of its charitable status is exempt from taxation.
| 30.06.21 | 30.06.20 | |
|---|---|---|
| Investment of Income | £0 | £0 |
| Number of Employees | 2 | 2 |
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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NOTES TO THE FINANCIAL STATEMENTS (contd.) FOR THE YEAR ENDING 30 JUNE 2021.
2. TANGIBLE ASSETS:
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| As at 30.06.20 Cost Library - Furniture, Fixtures & Fittings 1,545 Equipment 3,326 -------------- 4,871 Depreciation Library - Furniture, Fixtures & Fittings 1,289 Equipment 2,184 -------------- 3,473 Net Book Value Library - Furniture, Fixtures & Fittings 256 Equipment 1,142 -------------- 1,398 3. DEBTORS : Amount due before and after 12 months 4. CREDITORS: Amount due before and after 12 months Sundry Creditors |
Additions Disposal 15,045 - - - - -------------- ------------- 15,045 - 752 - 38 - 286 - -------------- -------------- 1,076 - 30.06.21 1,168 4,678 ========== |
As at 30.06.21 15,045 1,545 3,326 ------------- 19,916 752 1,327 2,470 ----------- 4,549 14,293 218 856 --------------- 15,367 30.06.20 1,270 5,996 ========== |
|---|---|---|
| 15,045 - - ----------- 15,045 |
||
752 38 286 ----------- 1,076 |
Al Quran Academy London - Trustee Annual Report & IER 2020/21
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
Al Quran Academy London
I report on the accounts for the year ended 30 June 2021, which are set out on pages 6 to 9.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedure laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act;
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mohammad M Rahman, MAAT. aab Accountants Ltd 72 South View Drive London E18 1NS.
April 5, 2022.
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