**Charity number: 1136655** ## **The Quran Project** **Report of the Trustees and Unaudited Financial Statements** **For the year ended 30 June 2021** ## **The Quran Project Contents Page For the year ended 30 June 2021** |Report of the Trustees|1 to 2| |---|---| |Independent Examiner's Report to the Trustees|3| |Statement of Financial Activities|4| |Statement of Financial Position|5| |Notes to the Financial Statements|6 to 9| |Detailed Statement of Financial Activities|10| ## **The Quran Project Report of the Trustees** ## **For the year ended 30 June 2021** The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 30 June 2021. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** The object is to produce free literature serving the study of the Qur'an and facilitate their distribution. ## **Objectives and aims** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **ACHIEVEMENTS AND PERFORMANCE** There was 2nd Edition publication of Science book. A number of advertisements were published via tradional marketing and social media. The website is being revamped for a new go-live. Constantly working on Improving in the next print. ## **FINANCIAL REVIEW** More can be done to promote the raising of further funds. A new updated and mobile friendly website is being launched to help in the marketing of the publications and also increase donations. ## **Reserves** We try to always keep a minimum of £20k. The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Quran Project was established on 26 April 2010 to produce high quality publications serving the study of the Qur'an and facilitating free distribution of them worldwide. It constituted a trust deed on 26 April 2010 in view of registering with the Charity Commissioners. On 30 June 2015 The Quran Project was granted registration as an unincorporated charity (Charity Number 1136655). ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** The Quran Project **Charity registration number** 1136655 **Principal address** Unit 2, Lime Grove Balsall Heath Birmingham West Midlands B12 8SY ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Mr Gul Zubair Mr Merban Ali Mr Mohammed Zaman 1 of 10 ## **The Quran Project Report of the Trustees Continued For the year ended 30 June 2021** ## **Independent examiners** Muhammad Shoaib Aswani FCCA Mibsons Limited 180 Birmingham Road West Bromwich West Midlands B70 6QG Approved by the Board of Trustees and signed on its behalf by ............................................................................. 01 April 2022 Mr Merban Ali 2 of 10 ## **The Quran Project Independent Examiners Report to the Trustees For the year ended 30 June 2021** I report to the trustees on my examination of the accounts of the charity for the year ended 30 June 2021. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Muhammad Shoaib Aswani FCCA Mibsons Limited 180 Birmingham Road West Bromwich West Midlands B70 6QG 01 April 2022 3 of 10 ## **The Quran Project Statement of Financial Activities For the year ended 30 June 2021** |**Notes**
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
The Quran Awareness
**Total**
**Expenditure on:**
Charitable activities
4/5
The Quran Awareness
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
135,333
34,705
**170,038**
(99,952)
**(99,952)**
**70,086**
210,148
**280,234**|**2020**
**£**
65,997
24,936| |---|---|---| |||**90,933**| |||(56,515)| |||**(56,515)**| |||**34,418**
175,730| |||**210,148**| 4 of 10 ## **The Quran Project Statement of Financial Position As at 30 June 2021** ||**Notes**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |**Fixed assets**|||| |Tangible assets|10|3,500|3,501| |||**3,500**|**3,501**| |**Current assets**|||| |Stocks|11|81,111|88,996| |Debtors|12|4,069|5,741| |Cash at bank and in hand||192,454|112,810| |||**277,634**|**207,547**| |**Creditors: amounts falling due within one year**|13|(900)|(900)| |**Net current assets**||**276,734**|**206,647**| |**Total assets less current liabilities**||**280,234**|**210,148**| |**Net assets**||**280,234**|**210,148**| |**The funds of the charity**|||| |Unrestricted income funds|14|280,234|210,148| |**Total funds**||**280,234**|**210,148**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Mr Merban Ali Trustee 01 April 2022 5 of 10 ## **The Quran Project Notes to the Financial Statements For the year ended 30 June 2021** ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. The Quran Project meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **2. Income from donations and legacies** |**Unrestricted funds**
Donations received
Gifts in kind
**ncome from charitable activities**
**Unrestricted funds**
_The Quran Awareness_
Book sales
**osts of charitable activities by fund type**
**Unrestricted funds**
The Quran Awareness
Support costs
**osts of charitable activities by activity type**
**Activities undertaken directly**
The Quran Awareness|**2020**
**2021**
**£**
**£**
61,456
127,400
4,541
7,933
**65,997**
**135,333**
**2020**
**2021**
**£**
**£**
34,705
24,936
**2020**
**2021**
**£**
**£**
55,615
99,052
900
900
**56,515**
**99,952**
**2020**
**2021**
**£**
**£**
99,952
56,515| |---|---| ## **3. Income from charitable activities** ## **4. Costs of charitable activities by fund type** ## **5. Costs of charitable activities by activity type** 6 of 10 ## **The Quran Project Notes to the Financial Statements Continued For the year ended 30 June 2021** ## **6. Analysis of support costs** |**nalysis of support costs**||| |---|---|---| |Governance costs
**et income/(expenditure) for the year**
This is stated after charging/(crediting):
Depreciation of owned fixed assets
Accountancy fees
**taff costs and emoluments**
Total staff costs for the year ended 30 June 2021 were:
Salaries and wages|**2021**
**£**
900
**2021**
**£**
1
900
**2021**
**£**
10,117
**10,117**|**2020**
**£**
900
**2020**
**£**
4
900| |||**2020**
**£**
-| |||**-**| ## **7. Net income/(expenditure) for the year** ## **8. Staff costs and emoluments** ## **9. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. 7 of 10 ## **The Quran Project Notes to the Financial Statements Continued For the year ended 30 June 2021** ## **10. Tangible fixed assets** |**Cost or valuation**
At 01 July 2020
At 30 June 2021
**Depreciation**
At 01 July 2020
Charge for year
At 30 June 2021
**Net book values**
At 30 June 2021
At 30 June 2020|**Land and**
**Buildings**
**£**
3,500
**3,500**
-
-
**-**
**3,500**
**3,500**|**Motor**
**Vehicles**
**£**
3,000
**3,000**
3,000
-
**3,000**
**-**
**-**|**Computer**
**Equipment**
**£**
9,338
**9,338**
9,337
1
**9,338**
**-**
**1**|**Total**
**£**
15,838| |---|---|---|---|---| |||||**15,838**| |||||12,337
1| |||||**12,338**| |||||**3,500**| |||||**3,501**| ## **11. Stocks and work in progress** |Stocks of raw materials
**Debtors**
**Amounts due within one year:**
Other debtors
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2021**
**£**
81,111
**81,111**
**2021**
**£**
4,069
**4,069**
**2021**
**£**
900
**900**|**2020**
**£**
88,996| |---|---|---| |||**88,996**| |||**2020**
**£**
5,741| |||**5,741**| |||**2020**
**£**
900| |||**900**| ## **12. Debtors** ## **13. Creditors: amounts falling due within one year** 8 of 10 ## **The Quran Project Notes to the Financial Statements Continued For the year ended 30 June 2021** ## **14. Movement in funds** ## **Unrestricted Funds** ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| |---|---|---|---|---| ||**01/07/2020**|**resources**|**resources**|**30/06/2021**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|210,148|170,038|(99,952)|280,234| ||**210,148**|**170,038**|**(99,952)**|**280,234**| |**Unrestricted Funds - Previous year**||||| ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| ||**01/07/2019**|**resources**|**resources**|**30/06/2020**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|175,730|90,933|(56,515)|210,148| ||**175,730**|**90,933**|**(56,515)**|**210,148**| ## **15. Analysis of net assets between funds** ||**Tangible**|**Net current**|**Net Assets**| |---|---|---|---| ||**fixed assets**|**assets /**|| |||**(liabilities)**|| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |_General_|||| |General|3,500|276,734|280,234| ||**3,500**|**276,734**|**280,234**| |**Previous year**|||| ||**Tangible**|**Net current**|**Net Assets**| ||**fixed assets**|**assets /**|| |||**(liabilities)**|| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |_General_|||| |General|3,501|206,647|210,148| ||**3,501**|**206,647**|**210,148**| 9 of 10 ## **The Quran Project Detailed Statement of Financial Activities For the year ended 30 June 2021** ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |**INCOME AND ENDOWMENT**||| |**Donations and legacies**||| |Donations|127,400|61,456| |Gifts in kind|7,933|4,541| ||**135,333**|**65,997**| |**Charitable activities**||| |Book sales|34,705|24,936| ||**34,705**|**24,936**| |**Total incoming resources**|**170,038**|**90,933**| |**EXPENDITURE**||| |**Charitable activities**||| |Staff costs - wages & salaries|(10,117)|-| |Depreciation - owned assets|(1)|(4)| |Printing cost|(40,577)|(16,431)| |Sundry purchases|(1,574)|(1,440)| |Paypal fee|(920)|(798)| |Bank charges|(65)|(25)| |Billboards, publicity and advertising|(800)|(1,675)| |Courier, postage and stationery|(21,137)|(11,180)| |Vehicle running cost|(2,247)|(1,565)| |Rates and insurance|(1,617)|(1,785)| |Rent and storage|(10,400)|(10,183)| |Repairs and maintenance|(1,680)|(1,550)| |Subscription and membership|(246)|(404)| |Telephone and internet|(475)|(336)| |Website maintenance|(7,196)|(8,239)| ||**(99,052)**|**(55,615)**| |**SUPPORT COSTS**||| |**Governance costs**||| |Accountancy fees|(900)|(900)| ||**(900)**|**(900)**| |**Total resources expended**|**(99,952)**|**(56,515)**| |**Net Income**|**70,086**|**34,418**| 10 of 10 This page does not form part of the statutory financial statements