REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
FOR
AL QURAN ACADEMY LONDON
Tally Lucas Associates Unit 1 Alexander Charles House, Station Passage South Woodford, London, E18 1JL
AL QURAN ACADEMY LONDON
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
| Report of the Trustees Statement of Financial Activities Balance Sheet Notes to the Financial Statements Independent Examiner's Report |
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AL QURAN ACADEMY LONDON Registered Charity Number 1135391
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 30 JUNE 2024
The Trustees present their report and financial statements for the year ending 30 June 2024. 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 Dr. Hafiz Munir Uddin Ahmed Chairman Mr. Mujibur Rahman Treasurer Dr. M. Abdul Bari Dr. Moslehuddin Farid (Mr.) Hafiz Anisur Rahman Mrs. Khadija Akhter Rezayee Ahmed Mr. A. Mamoon Al-Azemi (appointed as trustee on 2[nd] October 2024) (Mr.) Moulana A. K. Moudood Hasan
Independent Examiner
Tally Lucas Associates Ltd Chartered Certified Accountants Unit 1 Alexander Charles House,
Station Passage, London, E18 1JL, United Kingdom
Bankers
NatWest 145 Clapham High Street London SW4 7SN Sort Code 60-05-34 Account No. 23637854
Al Quran Academy London - Trustee Annual Report 2023/24
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 2023/24
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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. 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
In continuation of Al Quran Academy London’s achievements over the past twelve years, we decided to celebrate these tireless efforts and monumental successes with our closest well-wishers and donors. In July 2023, we commemorated the 12[th] year anniversary of our registration as a UK charity. This grand event allowed us to show to the public what charitable objectives we have achieved over 12 years. We had the opportunity to show the world through extensive news coverage all the major distribution projects undertaken across the globe. We celebrated with our wonderful donors the monumental achievement of publishing our Quran in 12 different languages; Arabic, English, Bengali, Urdu, Hindi, Nepali, Spanish, Sinhala, Asamiya, Italian, Romanian, and Chinese. It was a wonderful opportunity for people to see the different copies physically in one place. We also printed a rich magazine detailing all the facts figures and statistics related to our Quran Distribution project since its inception in 2010, ensuring that anyone could easily track how and what we achieved as an organisation so far. The highly successful event was attended by national and international luminaries and supporters of our causes and this helped gather much international publicity for Al Quran Academy London.
In addition to this, we have continued 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 two new translations to our Free Quran range, namely Italian and Romanian Language translations. As mentioned above, these new additions have brought our Free Quran catalogue to Quran publications in twelve different languages and we are pushing extensively to expand further.
We have continued our distribution work across the globe, stepping up our distribution projects with much enthusiasm. 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. We have noticed a sizeable increase in requests for free
Al Quran Academy London - Trustee Annual Report 2023/24
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Qurans from the public sector and we continue to cater for these as much as possible. We hope to continue with even more success in future.
In keeping with our annual tradition, we presented an Islamic Book Fair in the London Muslim Centre, in an effort to promote the reading of Islamic literature, in line with our charitable objectives. This year we added a small ‘Writer’s Award’ to recognise local authors who contributed to Islamic literature through publishing their own works. The initiative was a repeat of a similar award Al Quran Academy London gave in 2013, and was received very positively in the community.
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 Just giving 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.
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 will be recommending at the next Meeting that the firm of Tally Lucas Accountants Limited be reappointed as Accountant and Independent Examiner of the Charity.
BY ORDER OF THE BOARD OF TRUSTEES
Hafiz Munir Uddin Ahmed Chairman 31 March 2025
Al Quran Academy London - Trustee Annual Report 2023/24
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Page 5
AL QURAN ACADEMY LONDON
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 30 JUNE 2024
| Notes Resources received Donations (Restricted) 1 Legacy Payment - Late Dr. Bari RFC Grant HMRC- Gift aid -- Total incoming resources Resources expended Printing cost 79,975 Stock held at 30.6.2024 at cost (14,140) Distribution cost 7,446 Salaries & call centre cost 49,326 Consultancy fees 5,070 Islamic Book Fair 8,083 12th Anniversery 9,830 Publicity and Advertising 21,209 Rent, insurance & utilities 16,342 Phone, internet & website 830 IT, Software & Consumables 2,714 Repairs and renewals 98 Printing & stationery 4,457 Bank and finance charges 3,382 Travel Cost 9,193 Meeting expenses 550 Hospitality 1,588 General Expenses 2,620 Accountancy & Independent Report 570 Write off Library cost capitalised before 21,952 Depreciation 1,261 ------------------ Total Resources Expended -- Net Surplus Surplus funds brought forward -- Surplus funds carried forward = |
2024 2023 £ £ Restricted Restricted 235,629 252,103 - 26,719 18,750 33,570 2,983 400 ---------------- ------------------ 257,363 312,792 85,810 - 8,932 55,622 8,881 - - 57,230 24,118 2,130 936 458 5,290 2,312 1,876 350 466 1,693 878 - 2,787 ------------------ 232,356 259,769 ---------------- ------------------ 25,007 53,023 237,741 184,718 ---------------- ------------------ 262,748 237,741 ========= ========== |
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| AL QURAN ACADEMY LONDON BALANCE SHEET AS AT 30 JUNE 2024 Notes 2024 Restricted £ £ £ FIXED ASSETS 2 4,639 CURRENT ASSETS Stock of Quran at 30.6.24 14,140 - Cash at Bank & in hand 246,781 237,482 ------------------ ------------------ 260,921 237,482 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 4 2,812 27,592 ------------------ ------------------ NET CURRENT ASSETS 258,109 CREDITORS : AMOUNTS FALLING DUE OVER ONE YEAR - ------------------ -- TOTAL ASSETS LESS CURRENT LIABILITIES 262,748 ========== = CAPITAL & RESERVES Restricted Funds 262,748 ========== = These financial statements were approved by the Board of Trustees on 31 March, 2025 Signed on behalf of the Board of Trustees M U Ahmed Chairman |
Page 6 2023 Restricted £ 27,852 209,890 - ---------------- 237,742 ========= 237,742 ========= |
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AL QURAN ACADEMY LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 30 JUNE 2024
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.
Exeptional amounts
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1) There were material cost of Quran copies held as at the year end, without showing them the printing cost can not be matched correctly. The Trustees have decided to bring stock in hand in 2024.
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2) Library cost has been written off as the Library has been set up abroad - not in UK.
| TAXATION : The Company by virtue of its charitable status is exempt from taxation. 30.06.24 Investment of Income £0 Number of Employees 2 |
30.06.23 |
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| £0 2 |
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AL QURAN ACADEMY LONDON
NOTES TO THE FINANCIAL STATEMENTS (contd.)
FOR THE YEAR ENDING 30 JUNE 2024
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 30.06.23 Cost Library 25,075 Furniture, Fixtures & Fittings 4,289 Equipment 8,774 ---------------- 38,138 Depreciation Library 3,123 Furniture, Fixtures & Fittings 2,149 Equipment 5,014 ---------------- 10,286 Net Book Value Library 21,952 Furniture, Fixtures & Fittings 2,140 Equipment 3,760 ---------------- 27,852 3. DEBTORS : amount due before and after 12 months 4. CREDITORS: amount due before and after 12 months Sundry Creditors |
Additions - - ----------------- - 321 940 ----------------- 1,261 30.06.24 - 2,812 ========== |
Disposal (25,075) - - ------------------- 25,075 - (3,123) - - ------------------ (3,123) |
As at 30.06.24 - 4,289 8,774 ------------------ 13,063 - 2,470 5,954 ------------------ 8,424 - 1,819 2,820 ----------------- 4,639 30.06.23 - 27,592 ========== |
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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 2024, which are set out on pages 4 to 7.5 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.
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
March 31, 2025