SALAAM EDUCATION SERVICES
Company No. 7069817
Financial Statements For the year ended 30 November 2021.
aab Accountants Limited 72 South View Drive London E18 1NS.
SALAAM EDUCATION SERVICES
ANNUAL REPORT
FOR THE YEAR ENDING 30 NOVEMBER 2021.
CONTENTS
| DIRECTORS'/TRUSTEES' REPORT | PAGE 1 - 2 |
|---|---|
| BALANCE SHEET | PAGE 3 |
| STATEMENT OF FINANCIAL ACTIVITIES | PAGE 4 |
| NOTES TO THE FINANCIAL STATEMENTS | PAGE 5 |
| INDEPENDENT EXAMINER'S REPORT | PAGE 6 |
Page 1
SALAAM EDUCATION SERVICES
REPORT OF THE DIRECTORS/TRUSTEES FOR THE YEAR ENDING 30 NOVEMBER 2021.
The Trustees present their report and financial statements for the year ending 30 November 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the governing document of Salaam Education Services, the Charities Act 2011 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), as amended for accounting periods commencing from January 2016.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Registration Number 1136062 Company Number 7069817 Principal Address: 25 Redbridge Lane East, Ilford, Essex, IG4 5ET.
Trustees
Mooneerabee Salaam Director Abisola Adeleye Director and Company Secretary.(Resigned 1/9/2021. Sakina Salaam Director Dr. V.J. Apea Director (Appointed 18/04/2021) Zaid S Salaam Director Landis Barnes Director (Appointed 18/04/2021) Independent Examiner aab Accountants Limited, MAAT 72 South View Drive London E18 1NS. Bankers Barclays Bank Plc Leicester LE87 2BB Sort Code 20-72-89 Account No. 90441430
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
A charitable company limited by guarantee without share capital, incorporated on 8 November 2009 and registered as a charity on 21 May 2010.
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.
Principal objectives of the charity
-
To advance the education of children within London in English, Mathematics and Science;
-
To advance education in the Islamic Religion;
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The relief of poverty in London and throughout the world.
Page 2
Activities and achievements: How our activities deliver public benefits. The Charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, summarised below, provide benefit both to those who attend the Centre and the wider community in Redbridge and in many countries in the world.
General Education: The Centre provides tuition services for the children up to A level studies covering English, Mathematics and Science subjects.
Islamic Education: Children and adults are taught during the day in the Centre.
Seminars: Hall is hired out for regular educational (religious) talks and seminars.
Summer activities: The Centre organises summer time activities for the children during school holidays.
The Charity organises seasonal fund raising activities in the Centre by arranging some fun activities for children, stall to sell foods and drinks etc.
Grants and Donations: The Charity supports homeless people regularly by supplying food and to various needy including to orphans outside UK. The Centre has also contributed to various disaster funds through out the world.
Orphanage and Free school for children in Nigeria:
The School in Nigeria is fully functional for while now. Salaam Education Services has been supporting with the salaries for the teachers and one administrator. The Trustees believe that to help establishing the School were the objective. As it is running smmothly now, the Trustees will cease supporting this school any more. The charity now supports various water projects in Nigeria.
Statement of Trustees' Responsibilities.
Company Law requires the trustees to prepare financial statements for each financial year to give a true and 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:
Selected suitable accounting policies and then applied them consistently; Made judgements and estimates that are reasonable and prudent; Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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 Company's Act 2006. 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 directors will be recommending at the Annual General Meeting that the firm of aab Accountants Limited be reappointed as Accountant and Independent Examiner of the Company.
SMALL COMPANY EXEMPTION
This report, which has been prepared taking advantage of special exemptions applicable to small companies, was approved by the board on 6 June, 2022 and signed on its behalf.
BY ORDER OF THE BOARD
Mooneerabee Salaam Director
Page 3
SALAAM EDUCATION SERVICES
BALANCE SHEET AS AT 30 NOVEMBER 2021.
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | 2 | 913 | 1,199 | ||
| CURRENT ASSETS | |||||
| Sundry Debtors | 3 | 791 | 10,000 | ||
| Cash at Bank & in hand | 72,335 | 69,213 | |||
| ------------------ | ------------------ | ||||
| 73,126 | 79,213 | ||||
| CREDITORS : AMOUNTS FALLING DUE | |||||
| WITHIN ONE YEAR | 4 | 1,988 | 1,423 | ||
| ------------------ | ------------------ | ||||
| NET CURRENT ASSETS | 71,138 | 77,790 | |||
| CREDITORS : AMOUNTS FALLING DUE | |||||
| OVER ONE YEAR | 4 | 0 | 0 | ||
| ------------------ | ------------------ | ||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 72,051 | 78,989 | |||
| ========== | ========== | ||||
| CAPITAL & RESERVES | |||||
| Accumulated fund- Surplus | 72,051 | 78,989 | |||
| ========== | ========== |
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
*** The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;**
*** The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.**
These accounts have been prepared in accordance with the special provisions in part 15 of the Companies act 2006 relating to small companies.
These financial statements were approved by the board on 6 June, 2022.
Signed on behalf of the board of directors
Mooneerahbee Salaam Director
The notes on page 5 form part of these financial statements.
SALAAM EDUCATION SERVICES
Page 4
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 30 NOVEMBER 2021.
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Resources received | 1 | ||||
| Contribution of class fees | 13,190 | 17,438 | |||
| Donations (Unrestricted) | 24,368 | 42,677 | |||
| Rent received | 4,750 | 3,690 | |||
| Employment Grant | 17,182 | 13,840 | |||
| ------------------ | ------------------ | ||||
| 59,490 | 77,645 | ||||
| Resources expended | |||||
| Donations paid | 1 | 28,986 | 31,128 | ||
| Books and materials | 213 | 433 | |||
| Salaries | 26,869 | 26,038 | |||
| Council tax | 1,894 | 0 | |||
| Utilities | 1,435 | 2,363 | |||
| Insurance | 844 | 0 | |||
| Phone, internet & website | 345 | 462 | |||
| Repairs and renewals | 2,687 | 3,320 | |||
| Cleaning | 1,175 | 2,458 | |||
| General expenses | 344 | 162 | |||
| Depreciation | 286 | 555 | |||
| Accountancy | 1,350 | 1,600 | |||
| ------------------ | ------------------ | ||||
| 66,428 | 68,519 | ||||
| ------------------ | ------------------ | ||||
| (Deficit)/Surplus for the year | (6,938) | 9,126 | |||
| Surplus brought forward | 78,989 | 69,863 | |||
| ------------------ | ------------------ | ||||
| Surplus carried forward | 72,051 | 78,989 | |||
| ========== | ========== | ||||
| Continuing Operations |
Surplus derive wholly from continuing operations.
Total recognised gains and losses
There were no recognised gains or losses either in the current or preceding year other than those recorded in the Statement of Financial Activities. All funds received are unrestricted funds.
Page 5
SALAAM EDUCATION SERVICES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 30 NOVEMBER 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 2005.
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.
| Number of employees | 30.11.21 3 |
30.11.20 |
|---|---|---|
| 3 |
- TANGIBLE ASSETS: Depreciation is provided in order to write off each assets over its estimated useful life. Furniture & Fixtures are written off at 20% and Equipment at 25% on the written down value.
| 30.11.20 Cost Equipment 3,626 Furniture, Fixtures & Fittings 1,266 ----------------- 4,892 Depreciation Equipment 2,694 Furniture, Fixtures & Fittings 999 ----------------- 3,693 Net Book Value Equipment 932 Furniture, Fixtures & Fittings 267 ---------------- 1,199 3. DEBTORS : amount due before and after 12 months 4. CREDITORS: amount due before and after 12 months Sundry Creditors Directors Current account |
Additions - - ----------------- - 233 53 ----------------- 286 30.11.21 791 1,988 0 ------------------ 1,988 ========== |
Disposal - - ------------------ - - - ------------------ - |
30.11.21 3,626 1,266 ------------------- 4,892 2,927 1,052 ------------------ 3,979 699 214 ----------------- 913 30.11.20 10,000 1,423 0 ------------------ 1,423 ========== |
|---|---|---|---|
| ---- == |
Salaam Education Services Limited is a company limited by guarantee (restricted to £1 per member) and not having a share capital and is a charity.
5. SHARE CAPITAL:
There are no contingent liabilities at 30 November 2021.
6. CONTINGENT LIABILITIES
7. RELATED PARTY TRANSACTIONS
One of the directors is the part owner of the property operated from. she has granted continuing rollover yearly license at nil rent. Salaam Education Services Ltd will be responsible for full maintenance and repairs.
The principal teacher is also a director and draws salary as a qualified teacher at fraction of the comparable salary (1/4th of the market rate). She has been a teacher for many years and a key employee of the Charity. There are no other directors' interests which required disclosure under the Companies and Charities Acts.
Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Salaam Education Services Limited
I report on the accounts of the company for the year ended 30th November 2021, which are set out on pages 3 to 5.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The 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. The charity's gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, 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
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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 reviewed 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 386 of the Companies Act 2006; and * to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been made; or**
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mujib Rahman, MAAT. aab Accountants Ltd 72 South View Drive London E18 1NS.
June 6, 2022.