Registered number: 07162533 Charity number: 1136006 AHLULBAYT FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
AHLULBAYT FOUNDATION (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company, its Trustees and Advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Statement of cash flows 10 Notes to the financial statements
AHLULBAYT FOUNDATION (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr H Darwish Mr M Mousa MrA Jaffar Company registered number 07162533 Charity registered number 1136006 Registered office Unit 4, Wellesley Court Apsley Way London NW2 7HF Independent Examiner Barnes Roffe LLP Chartered Accountants 3 Brook Business Centre Cowley Mill Road Uxbridge Middlesex UB8 2FX Page 1
AHLULBAYT FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the Ahlulbayt Foundation for the year 1 April 2023 to 31 March 2024. The annual report selves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements. the requirements of the charitable company's governing document and the provisions of the Statement of Recommended practi (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The Objectives as set out in the goveming document for the Charity are as follows.. 1. To advance the Islamic religion. 2. To advance the education of the public in the Islamic religion. 3. To promote religious harmony by promoting knowledge. mutual understanding and respect of the beliefs and practices of different religions. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relats'ng to public benefit. including the guidance 'Public benefit.. running a charity {PB2}'. b. Strategies for achieving objectives Advancement of Education: The Foundation aims to clear misconptIOnS levelled against Islam to create a harmonious society with people of all faiths and backgrounds. Television broadcasting is one of the most efficient forms of communication and keeping this in mind, the Foundation continues its work with Ahlulbayt TV to achieve its objectives. c. Activities undertaken to achieve objectives, and main activities undertaken to further the Company's purposes for the public benefit To carry out its objectives. the Foundation works closely with the Ahlulbayt Television NeOrk Limited - a media outlet broadcasting on the Sky platform. Programmes are also uploaded to YouTube for future viewing and expanded viewership. Page 2
AHLULBAYT FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance a. Main achievements of the Foundation The Foundation supported a range of impactful programs this year that reflect its broader mission.. to advan education, promote mutual understanding, and foster social cohesion. By exploring themes relevant to individuals of all backgrounds. these projects encourage viewers to consider shared human values, appreciate cultural diversity, and engage more thoughtfully with societal challenges. While the following examples highlight some of the programmes the Foundation has supported, they represent only a portion of our wider efforts. 1. Documentary: Repentance This documentary offers an in-depth exploration of the conpt of repentance - a universal principle of personal growth, renewal, and moral accountability. By delving into the emotional and ethical dimensions of seeking forgiveness, the program provides practical insights that resonate across cultural and religious lines. It aims to inspire hope and foster positive change. reminding viewers that personal betterment and constructive self-reflection are accessible to everyone. 2. Social Discourse Social Discourse is a talk show dedicated to examining pressing social issues that communities around the world face today. Through informed debate. respectful dialogue, and critical analysis, it encourages audiences to look beyond stereotypes, develop empathy. and engage with challenging topics in constructive ways. By bringing together a variety of perspectives, it promotes a spirit of understanding and cooperation, contributing to healthier, more inclusive societies. 3. Documentary: The Hazaras of Afghanistan This documentary sheds light on the longstanding persecution fad by the Hazara minority in Afghanistan, offering historical context and personal testimonies. By focusing on the human experiences behind political and social tensions, it underscores the importance of recognizing shared humanity and defending the rights and dignity of all people. Through this narrative. the program encourages a collects've stand against injusti and a deeper appreciation for cultural resilience in the face of adversity. In summary, these productions underscore the Foundation's commitment to connecting people, encouraging greater understanding, and inspiring positive societal engagement. By highlighting universal themes-personal growth, respectful dialogue, and human rights-they help foster a more compassionate, informed, and cohesive global community. Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 3
AHLULBAYT FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 b. Reserves policy The Charity maintains reserves of £5,000 for emergencies. This is deemed sufficient because the Charity's premises are sponsored by a donor in their entirety and the work undertaken by the Charity (such as financial management and fundraising} is done so by volunteers and the Board of Trustees. During the year, the Foundation was fortunate enough to re1ve a higher level of grants compared to previous years. The Foundation is in the process of assessing the best medium for allocating these funds, for future years, in line with its objects. The Foundation has chosen to take a more precautionary approach due to the uncertainties associated with Covid-19. Structure, governance and management a. Constitution Ahlulbayt Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. b. Methods of appointment or election of Trustees The Articles of Association specify that the number of Trustees shall not be fewer than three and no fixed maximum number. Trustees must be over the age of 18. and are appointed by elects.on by the current board of Trustees. c. Policies adopted for the induction and training of Trustees All new Trustees appointed undergo training to brief them on their legal obligations under Charity and company law, and the content of the Memorandum and Articles of Association. They are also introduced to other Trustees. ststement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102}', make judgments and accounting estimates that are reasonable and prudent", state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. Page 4
AHLULBAYT FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 ststement of Trustees. responsibilities (CONTINUED) The Trustees are responsible for keeping adequate accounts.ng records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr A Jaffar Trustee Date: 20-Dec-2024 Page 5
AHLULBAYT FOUNDATION (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's report to the Trustees of Ahlulbayt Foundation I'the Company.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 20111'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)(b} of the 2011 Act. Independent examiner's statement I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe" accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records,. or the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act 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- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practi for accounting and reporting by charities. 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. Page 6
AHLULBAYT FOUNDATION (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 This report is made solely to the Company's Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed.. Sliookf Cakk Dated: 20-Dec-2024 Simon Carr Barnes Roffe LLP Chartered Accountants 3 Brook Business Centre Cowley Mill Road Uxbridge Middlesex UB8 2FX Page 7
AHLULBAYT FOUNDATION (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 193.552 13 2.107 195.659 13 253, 850 47 Total income 193.565 2,107 195,672 253, 897 Expenditure on: Raising funds Charitable activities 230,000 10.164 230,000 12.423 278,500 11,677 2.259 Total expenditure 240.164 2.259 242.423 290, 177 Net movement in funds (46.599) {152) (46,751) (36,280) Reconciliation of funds: Total funds brought forward Net movement in funds 57,032 (46.599) 2,259 (152) 59,291 (46.751) 95,571 (36,280) Total funds carried forward 10.433 2.107 12,540 59,291 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 11 to 18 form part of these financial statements. Page 8
AHLULBAYT FOUNDATION (A company limited by guarantee REGISTERED NUMBER: 07162533 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Current assets Cash at bank and in hand 12 17.441 63,492 17,441 63,492 Creditors.. amounts falling due within one year 14,901) (4, 201) Net current assets 12.540 59,291 Total net assets 12,540 59,291 Charity funds Restricted funds 2,107 10.433 2,259 57,032 Unrestricted funds Total funds 12,540 59,291 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. 20-Dec-2024 Mr A Jaffar Trustee The notes on pages 11 to 18 form part of these financial statements. Page 9
AHLULBAYT FOUNDATION (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities (Note 12) (46.051) (36,280J Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year (46,051) 63,492 (36,280) 99, 772 Cash and cash equivalents at the end of the year 17.441 63,492 The notes on pages 11 to 18 form part of these financial statements Page 10
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information The charity is a private company limited by guarantee. incorporated in England and Wales, and consequently does not have any share capital. Each of the trustees is liable to contribute an amount not exceeding £14 towards the assets of the charity in the event of liquidation. Accounting policies 2.1 Basis of preparation of financial statements The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accounting Practice. Ahlulbayt Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheNise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is reiVed in advan of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. Income tax recoverable in relation to donats.ons reiVed under Gift Aid is recognised at the time of the donation. Page11
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposit is induded when re1vable and the amount can be measured reliably by the Company,. this is nomially upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Taxation The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Creditors Liabilities are recognised when there is an obligation at the Balan sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be ests"mated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as adVand payments for the goods or seNices it must provide. Page 12
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Donations and sponsorships Grants 138,683 54,869 2,107 140,790 54.869 Total 2024 193,552 2,107 195.659 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Donations 201,591 50, 000 2,259 203, 850 50,000 Grants 251,591 2, 259 253, 850 Page 13
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Investment income - local cash 13 13 Total 13 13 Unrestricted funds 2023 Total funds 2023 Investment income - local cash 47 47 Anatysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Rates Office expenses Independent examiner's remuneration Grant payment 2,481 2,243 5,440 2,481 2.243 5,440 2.259 2,259 Total 10,164 2,259 12.423 All expenditure related to the Charity's sole activity. Independent examiner's remuneration 2024 2023 Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts 5.440 4, 755 Page 14
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Trustees. remuneration and expenses During the year, no Trustee received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023- £NIL). Creditors: Amounts falling due within one year 2024 2023 other creditors Accruals and deferred income 4,900 4,200 4.901 4,201 Page 15
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ststement of funds ststement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds General Funds- all funds 57,032 193,565 {240,164 10,433 Restricted funds Restricted Funds- all funds 2,259 2,107 (2,259) 2,107 Total of funds 59.291 195.672 (242.423) 12.540 ststement of funds - prior year Balance at 31 March 2023 Balan at l April 2022 Income Expenditure Unrestricted funds General Funds- all funds 93, 093 251,638 (287, 699) 57,032 Restricted funds Restricted Funds- all funds 2,478 2, 259 (2.478) 2,259 Total of funds 95,571 253, 897 (290, 177) 59,291 Page 16
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysis of net assets between funds Anatysis of net assets between funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Current assets 15,334 (4,901) 2,107 17,441 {4.901) Creditors due within one year Total 10,433 2,107 12,540 Anatysis of net assets between funds - prior period Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Current assets Creditors due within one year 61,233 (4, 201) 2,259 63,492 (4,201) Total 57,032 2,259 59,291 11. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net expenditure for the period (as per Statement of Financial Activities) (46.751) (36,280J Adjustments for: Increase in creditors 700 Net cash used in by operating activities (46.051) (36, 280) Page 17
AHLULBAYT FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Anatysis of cash and cash equivalents 2024 2023 Cash in hand 17,441 63,492 Total cash and cash equivalents 17.441 63,492 13. Anatysis of net debt At 1 April 2023 Cash flows At 31 March 2024 Cash at bank and in hand 63.492 (46.051) 17.441 63.492 (46,051) 17,441 Page 18