AL QURAN ACADEMY LONDON
Registered Charity Number 1135391
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
Contents:
Report of the Trustees Statement of Financial Activities
Balance Sheet Notes to the Financial Statements
Independent Examiner's Report
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 30 JUNE 2022
The Trustees present their report and financial statements for the year ending 30 June 2022. 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
Meena Kadir
Dr M Abdul Bari (appointed 1/5/2022) Mohammad M Rahman (appointed 1/5/2022) Anisur Rahman (appointed 1/5/2022)
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 2021/22
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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
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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 - 1[st] July 2021 to 30[th] June 2022
Following on from a period of uncertainty and global constraints, the world seemed to have recovered and resumed normalcy. We had seen the effects of the pandemic lessen, and Al Quran Academy London resumed its journey as normal whilst building on the knowledge garnered from the pandemic’s early phases.
During the previous period, we had decided to let go of our physical premises, opting to work from home. This allowed us to maintain the safety of our staff and volunteers, as well as donors who may have wanted to visit us. The end of lockdowns and the lifting of restrictions on public movement allowed us to move back into physical premises. We rented a large self-contained 3 storey building with basement and additional storage facilities for our Quran stock. The new premises has made it much easier to load and unload books due to ground floor access and car park. The venue is also highly accessible and central. It is located in Shadwell, East London and therefore in a Bangladeshi ethnic majority community, from which we most benefit in terms of overall fundraising. Having a physical presence in the community allowed us once again to open our doors to donors and supporters, as well as to those who wish to avail our free Quran distribution service.
During this period, we added another edition of our Quran publications to our ever-widening Free Quran catalogue. With regard to native Arabic speakers who do not need a translated version of the Holy Quran, we published an Arabic only copy. This addition has brought our Free Quran catalogue to seven different languages; English, Bengali, Urdu, Nepali, Spanish, Hindi, and now Arabic. The publication of this Arabic mushaf was initially inspired by a plea for Qurans to be distributed to
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Syrian refugees. As they are native Arabic speakers, we printed a Quran without translation and distributed it amongst them.
We also redesigned and printed our Urdu, Nepali and Hindi versions of the Holy Quran with a leading Islamic publisher in India. Their expertise in commercial Quran publishing allowed us to improve our quality of printing for India and Nepal. We also began working with local partners to publish further translations in Assamese and Sinhala, which would complete the major languages of the Indian Subcontinent.
Talks are also ongoing with organisations in Eastern Europe, namely Romania and Bulgaria, in an effort to see whether it is possible to publish translations in the Romanian and Bulgarian languages.
The end of worldwide pandemic related restrictions also enabled us to resume our mass Quran printing activities with renewed speed and vigour. During this period, we printed over 150’000 copies of the Holy Quran for free distribution across various parts of the world. The printing of these Qurans took place in Turkey (covering distribution in Europe and US), India (covering distribution in the Indian subcontinent), and Bangladesh (covering distribution in Bangladesh only). We also made further contacts locally in the UK that helped us distribute free Qurans in the National Health Service, HM Prison service, amongst refugees and asylum seekers in the UK and many more groups.
As always, live TV fundraising appeals were the main source of income for Al Quran Academy London. During this period, we held many TV appeals and the response has been good, although there was a notable decrease from the previous period. This can perhaps be attributed to the delayed economic impact of the pandemic. We also tried other methods of campaigning for funds, such as a live radio appeal in Luton and a marketing campaign on the popular crowdfunding website, Launchgood. Other fundraising initiatives include hiring the services of an experienced charity consultant having over 20 years of experience in the Muslim charity field. We also acquired the services of an experienced Social Media management company in a bid to help elevate our presence on social media platforms.
After having cancelled our popular Islamic Book Fair for two years in a row due to the pandemic, we were able to hold the 9[th] Islamic Book Fair in March 2022. Despite the gap, the fair was a huge success, attracting people from all over the UK. The fair once again served as an efficient and successful tool in promoting Islamic literature in the wider community. We were able to successfully build awareness for the need to read good books that promote mental and physical health, peace and harmony in the Islamic tradition.
This period has seen the departure of two trustees and the addition of 3 new trustees to the board. After 10 years of dedication to Al Quran Academy London, Dr. Fozlul Kadir and Mrs. Sayeda Ahmed both resigned as trustees from the board due to personal responsibilities. The board and everyone at Al Quran Academy London thoroughly appreciated the commitment and enthusiasm they have shown during their tenure, and welcomed new trustees Dr. Abdul Bari, Mr Mujibur Rahman, and Hafiz Anisur Rahman to help continue the good work of the organisation.
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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.
ACCOUNTANTS
The Trustees have appointed the firm of Tally Lucas Associates Limited as Accountant and Independent Examiner of the Charity.
BY ORDER OF THE BOARD OF TRUSTEES
Hafiz Munir Uddin Ahmed Chairman 27 April 2023
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022.
FOR
AL QURAN ACADEMY LONDON
aab Accountants Limited 72 South View Drive London E18 1NS.
AL QURAN ACADEMY LONDON
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STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 30 JUNE 2022.
| Notes Resources received Donations (Restricted) 1 HMRC- Gift aid Grant on Wages paid -- Total incoming resources Resources expended Printing cost 135,989 Distribution cost 7,262 Salaries & call centre cost 44,660 Consultancy fees 15,674 Publicity and Advertising 58,982 Rent, insurance & utilities 18,500 Phone, internet & website 3,742 Repairs and renewals 797 Printing & stationery 301 Bank and finance charges 1,777 Travel Cost 3,203 Meeting expenses 1,982 Hospitality 800 General Expenses 2,059 Accountancy & Independent Report 540 Depreciation 2,950 ------------------ Total Resources Expended -- Net (Deficit)/Surplus Surplus funds brought forward -- Surplus funds carried forward = |
2022 2021 £ £ Restricted Restricted 252,710 365,165 2,635 0 3,820 19,089 ---------------- ------------------ 259,165 384,254 78,248 11,084 33,526 4,829 93,989 12,385 2,370 429 546 757 1,074 0 0 3,600 740 1,076 ------------------ 299,218 244,653 ---------------- ------------------ (40,053) 139,601 224,771 85,170 ---------------- ------------------ 184,718 224,771 ========= ========== |
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| AL QURAN ACADEMY LONDON BALANCE SHEET AS AT 30 JUNE 2022. Notes 2022 Restricted £ £ £ FIXED ASSETS 2 29,496 CURRENT ASSETS Sundry Debtors 33 1,168 Cash at Bank & in hand 157,472 212,914 ------------------ ------------------ 157,505 214,082 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 4 2,283 4,678 ------------------ ------------------ NET CURRENT ASSETS 155,222 CREDITORS : AMOUNTS FALLING DUE OVER ONE YEAR 0 ------------------ -- TOTAL ASSETS LESS CURRENT LIABILITIES 184,718 ========== = CAPITAL & RESERVES Restricted Funds 184,718 ========== = These financial statements were approved by the Board of Trustees on 27 April, 2023. Signed on behalf of the Board of Trustees M U Ahmed Chairman |
Page 5 2021 Restricted £ 15,367 209,404 0 ---------------- 224,771 ========= 224,771 ========= |
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AL QURAN ACADEMY LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 30 JUNE 2022.
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. 30.06.22 Investment of Income £0 Number of Employees 2 |
30.06.21 |
|---|---|
| £0 2 |
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AL QURAN ACADEMY LONDON
NOTES TO THE FINANCIAL STATEMENTS (contd.)
FOR THE YEAR ENDING 30 JUNE 2022.
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 30.06.21 Cost Library 15,045 Furniture, Fixtures & Fittings 1,545 Equipment 3,326 ---------------- 19,916 Depreciation Library 752 Furniture, Fixtures & Fittings 1,327 Equipment 2,470 ---------------- 4,549 Net Book Value Library 14,293 Furniture, Fixtures & Fittings 218 Equipment 856 ---------------- 15,367 3. DEBTORS : amount due before and after 12 months 4. CREDITORS: amount due before and after 12 months Sundry Creditors |
Additions 10,030 2,744 4,305 ----------------- 17,079 1,216 444 1,290 ----------------- 2,950 30.06.22 33 2,283 ========== |
Disposal - - ------------------ - - - - ------------------ - |
As at 30.06.22 25,075 4,289 7,631 ------------------ 36,995 1,968 1,771 3,760 ------------------ 7,499 23,107 2,518 3,871 ----------------- 29,496 30.06.21 1,168 4,678 ========== |
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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 2022, which are set out on pages 4 to 7.
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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to 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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to 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:
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(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.;
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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.
Mohammad M Rahman, MAAT. aab Accountants Ltd 72 South View Drive London E18 1NS.
April 27, 2023.