REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023.
FOR
AL QURAN ACADEMY LONDON
Tally Lucas Associates Unit 1 Alexander Charles House, Station Passage South Woodford, London, E18 1JL, United Kingdom
AL QURAN ACADEMY LONDON
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023.
| Report of the Trustees Statement of Financial Activities Balance Sheet Notes to the Financial Statements Independent Examiner's Report |
Page |
|---|---|
| 1 to 4 5 6 7 to 8 9 |
Page 1
AL QURAN ACADEMY LONDON
REPORT OF THE TRUSTEES
FOR THE YEAR ENDING 30 JUNE 2023.
The Trustees present their report and financial statements for the year ending 30 June 2023. 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 Charity Registration Number 1135391
Trustees
(Mr.) Hafiz Munir Uddin Ahmed Chairman Mohammad M Rahman Treasurer Dr. M. Abdul Bari Dr. Moslehuddin Farid (Mr.) Hafiz Anisur Rahman Mrs. Khadija Akhter Rezayee Ahmed Mrs. Meena Kadir (resigned as trustee on 12[th] June 2023) (Mr.) Moulana A. K. Moudood Hasan (joined as trustee on 1[st] September 2023)
Independent Examiner Tally Lucas Associates Chartered Certified Accountants Unit 1 Alexander Charles House, Station Passage South Woodford, London, E18 1JL, United Kingdom
Bankers NatWest 145 Clapham High Street London SW4 7SN Sort Code 60-05-34 Account No. 23637854
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.
Page 2
AL QURAN ACADEMY LONDON
REPORT OF THE TRUSTEES (contd.) FOR THE YEAR ENDING 30 JUNE 2023.
OUR OBJECTIVES AND HOW WE DELIVER THEM
Aims
o To advance the Islamic faith through the promotion of teaching, publishing and distributing the Islamic holy scripture and other authentic Islamic theological literature;
o To promote the correct and authentic teachings of the Islamic Religion to those who wish to receive them;
o 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
o To help relieve poverty throughout the world by supporting humanitarian projects when necessary.
Strategies
o Printing and publishing copies of the Holy Quran with translation in various languages, for free distribution worldwide
o Researching and publishing Islamic literature to aid in understanding the true peaceful message of Islam and the Quran, also for free distribution
o Holding awareness events in major cities across the world
o Hosting annual community events such as the National Quran Conference and the Islamic Book Fair
o 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
HOW OUR ACTIVITIES DELIVER PUBLIC BENEFITS.
Al Quran Academy London (AQAL) 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, USA, 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
Following on from the success of previous years, Al Quran Academy London has continued performing its charitable objectives with renewed encouragement and vigour. We have stepped up our efforts in varying the distribution of the Holy Quran through the procurement, print and publishing of Quran translations in further languages. During this period, we have been able to add three new translations to our Free Quran range, namely Sinhala language, Asamiya Language and Chinese Language translations. These new additions have brought our Free Quran catalogue to Quran publications in ten different languages; Arabic, English, Bengali, Urdu, Hindi, Nepali, Spanish, and now Sinhala, Asamiya, and Chinese. The printing and production of the Sinhala and Asamiya translations were carried out in India by specialists in the respective languages. With the publication of the Sinhala and Asamiya translations, we hope to further increase our readership across the population hailing from the Indian subcontinent.
Page 3
AL QURAN ACADEMY LONDON
REPORT OF THE TRUSTEES (contd.)
FOR THE YEAR ENDING 30 JUNE 2023.
We have continued our distribution work across the Western hemisphere, stepping up our distribution projects across Europe and the USA. During this period, we shipped a large volume of Qurans with translations in different languages to multiple states across the USA for free distribution. We also accomplished our first major Quran distribution project in the continent of Africa. We sent a large consignment of Qurans with translations in various languages to South Africa for free distribution there. In addition to these new strides, we have also maintained our distribution efforts locally in the UK, continuing to distribute free Qurans in the National Health Service, HM Prison service, amongst refugees and asylum seekers in the UK and many more groups. Our major Quran distribution efforts in Bangladesh and West Bengal have also been proceeding regularly with full conviction. We hope to continue with even more success in future.
Our fundraising efforts have continued steadily during this period, with funds collected mainly via live television fundraising. We have also seen a good period of passive income too, with donations coming through our Justgiving pages, our own website donation portal, as well as cash collections donated in person. Moreover, our number of regular monthly donations via direct debit have also increased. During this period, we also received a large legacy donation following the sad demise of a donor who had named us as a beneficiary in his will.
Much of the latter end of this period was driven towards holding a major event scheduled for July 2023, which would be held to commemorate the twelfth-year anniversary of the organisation. This preparation involved detailed event planning, contacting luminaries from around the world as special guests, inviting AQAL’s country representatives who have worked tirelessly in furthering Quran distribution, and of course inviting AQAL’s most loyal and generous donors as guests.
This period has seen the departure of a founding member, Mrs. Meena Kadir. After 12 years of dedicated service as a trustee of Al Quran Academy London, Mrs. Meena Kadir resigned as a trustee of the board due to her ill health. The board and everyone at Al Quran Academy London thoroughly appreciated the unwavering commitment and dedication she has shown during her tenure, and wished her the best of health in the 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:
o Selected suitable accounting policies and then applied them consistently; o Made judgements and estimates that are reasonable and prudent;
- Stated whether applicable accounting standards have been followed, subject to any material o 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
Page 4
REPORT OF THE TRUSTEES (contd.)
REPORT OF THE TRUSTEES
ACCOUNTANTS
The Trustees will be recommending at the next Meeting that the firm of Tally Lucas Associates be reappointed as Accountant and Independent Examiner of the Charity.
BY ORDER OF THE BOARD OF TRUSTEES
(Mr.) Hafiz Munir Uddin Ahmed Chairman 12 April 2024.
Page 5
AL QURAN ACADEMY LONDON
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 30 JUNE 2023.
| Notes Resources received Donations (Restricted) 1 Legacy Received RFC Grant 2022 RFC Grant 2023 HMRC- Gift aid Grant on Wages paid Others Received Total incoming resources Resources expended Printing cost 85,810 Distribution cost 8,932 Salaries & call centre cost 55,622 Consultancy fees 8,881 Publicity and Advertising 57,230 Rent, insurance & utilities 24,118 Phone, internet & website 2,130 IT, Software & Consumables 936 Repairs and renewals 458 Printing & stationery 5,290 Bank and finance charges 2,312 Travel Cost 1,876 Meeting expenses 350 Hospitality 466 General Expenses 1,693 Accountancy & Independent Report 878 Depreciation 2,787 ----------------- Total Resources Expended Net (Deficit)/Surplus Surplus funds brought forward Surplus funds carried forward |
2023 £ Restricted 252,103 26,719 17,098 16,472 - - 400 312,793 135,989 7,262 44,660 15,674 58,982 18,500 3,742 - 797 301 1,777 3,203 1,982 800 2,059 540 2,950 ----------------- 259,769 ---------------- 53,024 184,718 ---------------- 237,742 ========= |
2022 £ Restricted 252,710 - - - 2,635 3,820 - |
||
|---|---|---|---|---|
| - -- -- = |
- -- - -- = |
259,165 299,218 ---------------- 40,053 224,771 ---------------- 184,718 ========= |
Page 6
AL QURAN ACADEMY LONDON
| BALANCE SHEET AS AT 30 JUNE 2023. Notes 2023 Restricted £ £ £ FIXED ASSETS 2 27,852 CURRENT ASSETS Sundry Debtors - 33 Cash at Bank & in hand 237,482 157,472 ------------------ ------------------ 237,482 157,505 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 4 27,592 2,283 ------------------ ------------------ NET CURRENT ASSETS 209,891 CREDITORS : AMOUNTS FALLING DUE OVER ONE YEAR - ------------------ -- TOTAL ASSETS LESS CURRENT LIABILITIES 237,742 ========== = CAPITAL & RESERVES Restricted Funds 237,742 ========== = These financial statements were approved by the Board of Trustees on 12 April, 2024. Signed on behalf of the Board of Trustees |
2022 Restricted £ 29,496 155,222 - ---------------- 184,718 ========= 184,718 ========= |
|---|---|
(Mr.) Hafiz Munir Uddin Ahmed Chairman
Page 7
AL QURAN ACADEMY LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 30 JUNE 2023.
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
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. | |
|---|---|---|
| 30.06.23 | 30.06.22 | |
| Investment of Income | £0 | £0 |
| Number of Employees | 2 | 2 |
2. TANGIBLE ASSETS: Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Cost Library Furniture, Fixtures & Fittings Equipment Depreciation Library Furniture, Fixtures & Fittings Equipment |
As at 30.06.22 25,075 4,289 7,631 ---------------- 36,995 1,968 1,771 3,760 ---------------- 7,499 |
Additions 1,065 78 ----------------- 1,143 1,155 378 1,254 ----------------- 2,787 |
Disposal - - ------------------- - - - - ------------------ - |
As at 30.06.23 25,075 5,354 7,709 ------------------ 38,138 3,123 2,149 5,014 ------------------ 10,286 |
|---|---|---|---|---|
AL QURAN ACADEMY LONDON
Page 8
NOTES TO THE FINANCIAL STATEMENTS (contd.)
FOR THE YEAR ENDING 30 JUNE 2023.
| Net Book Value Library 23,107 Furniture, Fixtures & Fittings 2,518 Equipment 3,871 ---------------- 29,496 3. DEBTORS : amount due before and after 12 months 4. CREDITORS: amount due before and after 12 months Sundry Creditors |
30.06.23 - 27,592 ========== |
21,952 3,205 2,695 ----------------- 27,852 30.06.22 33 2,283 ========== |
|---|---|---|
Page 9
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Al -Quran Academy London
I report on the accounts for the year ended 30 June 2023, which are set out on pages 5 to 8.
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:
*** examine the accounts under section 145 of the 2011 Act;**
*** 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**
*** 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. The trustees decided to disclose the inventory position from the year ending June 2024 instead of directly disclosing all relevant costs in expenses.
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:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
*** 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.
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.
Faizul Hoque FCA, FCCA Tally Lucas Associates Unit 1 Alexander Charles House, Station Passage South Woodford, London, E18 1JL, United Kingdom
April 12, 2024.