SOCIAL WELFARE & EDUCATION TRUST Page I TRUSTEES AND PROFESSIONAL ADVISORS TRUSTEES: Mr Zulfaqar Ali I'us2f Mr Ahmed AIA Mr Khalid fv12hmood Mohammad Tariq Rehman N12Jik MAIN OFFICE: 38 & 40 Foyland Road Gadey Cheadle SK8 4QB BANKERS: Royal Bank of Scotland Cheadle Hulme Branch 2 Station Road Cheadle Hu]me Che2dle SK8 SAE ACCOUNTANTS: Ferguson & Co Chartered Certified Accountrmts 651 Mauldeth Road Il'est Chodton M2nchester M217SA SOCL4L IVELFARE & EDUCATION TRUST TRUSTEES REPORT FOR THE YE4R ENDED ￿ June 2024 Page 2 The Trust¢es pteseftt their 4)ort and fjnancial ststements of the cltsriry for the )rar ended 30 June 2024. The fmanclal statements have been prepared in accordance with the accounting policieb set out in note I to the accounts and compl}, with the charity's trust deed. the Chatities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Prattl￿ applicable to Ch￿ltieS preparing their accounts in accordance with the Financial Reporting Standard App]icable in the UK and Republic of Ite]and pubRished (FRS IO¥ (effective l January ?015). STATUS Social Welfate & Education Trust is a registered ch￿lty under the chatity number 1137331. It Iw no ta¥able activities and is thetefoff not ]iable to UK tsxation. It is. l10w￿.er, unable to teclaim V.4T on expendAture incutted. T￿￿tee8 The trustees o£tl)e charity, under the trust dee(L are known as Board membe£s with voting rights. They have no beneficial Antetest in the charity. .411 trustees give their time voluntaal)" artd ￿cell￿ no benefits from the charity. Any expenses reclaimed from the charity atr set out in note 9 to the accounts. The trusttts undertake a skills audit to identify gaps in Board experiences and new t£ustees atr appointed on a 3-year tenn to fill these gaps. Thetr is an induction and training plan in p]ace fi)r all twstees to sttrngtlien their roEe in sttategc planning. Ttustees att also able to access the organisational ttaining plan and attend any that the}, feel would be beneficial to theAr role and/ot understanding. Recruitment and Appointtnent of Trustees The Trustees of the charity" art known as Membe￿ of the Management Committe¢. LTnder the requirements of the deed, members of the Management Commitke shall hold office until the end of Annual Genetal Meeting next following their election appointment or c(Wtion and shall be eliglble Eor £e-election or te-cO￿tion. Tn￿tee Induction and Training New ttustees are ￿tUl￿d following all recmitment process and a success￿1 induction. All neTh" trustees ate given an induction when they start which gxve$ them up to date information on out sern4ces. finances, ￿ndIng streams. o£ganisational poJicÉes and Procedu￿8, code ofconduct and trdming on our quality assurance standaIds. Training is provided for the rnanagen￿nt committee on roles and ￿SponSIbl]It￿e8 of a trnstee and other ￿leVant tIaining identif￿d to assist and support the ￿"ork of tbe trnstees. Achxevement & Perfornlance The centre provides the services of community and education centre in the Cheadle, Stockpott. Facilities of the ccntre ar open to the public between 7:30am to 9.(￿rn. all day. It caters for the after sch￿1 children's, madrassa and othe£ community needs for the Musjims 0£ the atea. The main obiective of the centtt is to advance the academic as well as Islamic education of the community through the proiision of Qui&nic and Hadiths ￿$jamIC studies as Interpreted b). Deoband Hanafi school of t￿￿Ughts) teachings to Adults and children by having dass tutoiials and lectures. Non-Nluslims ate welcome to attend any of the centr atttvities as long as they conforni to the expected behAviour and dtrss code withtn the centse. Our intentions are to ptOVAde all broad range of spectrum faciItties for foreseeable ￿ture. SOCIAL WELFARE & EDUCATION TRUST TRUSTEES REPORT FOR THE YEAR ENDED XIJUNE 2024 (CONTINUED) Page 3 In the yea£ to 30 lune 2024 the chatity had a totsl income of £101,777 (£79.319 - last }Fear) and total expenditure of ri6,0?kn (£57,? 8 - last year). This te8ulted lli a net profit for the yeat of f5.751 (£2? 091 _ last yeat). During this period the chafity have used fimds collected in the current period to maintsin activity levels, Investment powers and policy The cash balAnce held in unrestsicted te8etv¢s at 30 June 2024 was £90,654 (£64,729 - last year). The t￿SteeS aim to maintsin free ttserves in unrtStrACted funds at a level which equates to aPPtoximately 6 months of unrestiicted charitable expenditUTe. The Trustees consider. having ttgard to the budget for the twelve months. tliat the chafity is a going concetn. Risk Management The trustees have conducted a tevi¢w of the major tisks to whAch the charity ts exyosed and sistems have been estsbhshed to mitigate those risks. SOCL4L WELFARE & EDUCATION TRUST TRUSTEES REPORT FOR THE YE4R ENDED XIJUNE 2024 (CONTINUED) Page 4 Ttustees re8ponsibi]itie8 in relation to the fmancial statements The chariry tLUStees atr responsible for preparing the annual teport and the accounts in accordance with applicabk la￿. and Unired Kingdom Accounting Standards (United KtiWom Genetalll Accepted Practice). The laTh" applicabk to Charities in Eng]and and Wales ttquires the chatity trustees to prepatt fjnanctal statements for eacli vear which ￿ve a ttue and faiz view of the state of affairs of the chartty and of the ittcon]ing tr4ources and application of resources, of the charity for that period. In pceparing the accounts, the directots tequited to. I Select suitable accounting principles and then apply them consAstentlT. 2 Obsenye the methods and prxncAples in the applicable Chatities SORP. 3 Trlake judgements and estimates that are reasonable and p£uden¢ 4 State wlietlier applicable accounting standards have been followed, subject to an!" material departures that must be disdosed and eiylained in the financial statements. 5 Ptepate tlie financial statements on a going concern basis t￿lesS it is appiopnate the presume that the charity will conttnue in business. The trustees responsible for keepjng proper accounting words that disc108e with reasonable accur2te at any tin￿ the financial position of tlie ¢hatity and to enable them to ensure that the ftnancial statements comply with the Cliattties Act 2011, the applicable aurities (Accounts and Reports) Regwlations, and the provision of the Ttust deed. Thesy ate also trsponsible for safeguarding the assets of the chatity and tsking trasonable steps ft>r the pM7ention and detention of ftaud othet irLegularities. AppIoTrEd by the trustees and sjgned on their behalf by> Mr Khalid Mahmood Chair of the Tru8tee8 Date: Independent Examitiet's Report to the Tn￿lee8 of Social Welfare & Educath)n TtU8t I teport on the accounts of the ch2tity for the yeat ended 30 Junc 2024 which ate set out on pages 6tol3. Re8pective re8ponsibilitie8 of trn8ttt8 and examI￿r The charity'8 trustees Are responsibk for the preparation of tbe accounts. The ch￿l￿S ttustees con8idet that an audit is not zequited for this year un&t section 144(2) of the Cltstities Act 2011 (the 2011 Act) and that an independent examiimlion is needcd. It is thy tesponsibi]ity to: ati)ine tbe accounts undet section 145 of the 2011 Ac¢ follow the procedutes jaid down io the genetal Ditection6 wen by the Cbanty Com￿S1o￿ under sectkon 145(5)(b) of the 2011 Ac¢. and state whethe£ patticu]ar n)2ttexs have come to my attentio Ba818 of independent examinet's teport My eXami￿tiOn was catued out in accotdance widj the general Ditections wen by the ch￿[ty Commission. An eXam1t￿tioll indudes a teview of the accoutttiag recotds kept by the charity god a compatison of the accoullts piesented with those tecords. It also indudes consideration of any UllUSU21 items or disdosures in the accounts and seekmg exp]anations from you as trustees concerning any such mattets. The wocedutes undertaken do aot ptovide all the evidence that would be requita in an audit and consequendy no opinion is given as to whether the accounts ptesent a "tn￿ and fair vie￿. 2nd the report is Jimited to those matters set out in the st2teinent Independent eXami￿'S statement In connection with my ezami￿tio0 no matter has come to my Attention: vA)ith gives the teasonabk cause to believe thai iti any tnatetial respect, the t4uirements: to keep accounting recotds in accotd2nce with Bcction 130 of the 2011 Ac¢ and to wepate accounts which accotd with the accounting tecords And cothply vjith the accounting requitements of tbe 2011 Act have not been met. or to wbidL in my opinio4 attenixon should be drawn in 0￿er to enable a ptoper undetrtanding of the accounts to be teached. Mulwwd Tayyab (FCCA) Fetguson & Co 651 Mauldeth Road We86 Chotlton* Manche8tet, M217SA SOCL4L WELFARE & EDUCATION TRUST Page 6 Statement of Flnancial Activities For the year ended 30 June 2024 Note8 2024 2023 INCOMING RESOURCES Restricted General Restricted General INCOME FOR IHE IE4R 101,777 79J19 Rent Income 101,777 79,319 LESS: RESOURCES EXPENDED Cost of generating funds Ypenditure on charitable activites iiii 61,085 39,766 Governance costs Support costs 11,159 12,814 TOTAL RESOURCES EXPENDED 7Q026 57,228 NET INCOME FOR THE YEAR 2i,7il 22,091 BALINCE BROUGHT FORWARD 486.873 464,782 BALANCE CARRIED FORWARD 624 486,873 The statement of financial activities includes all gains 2nd losses in the year. All incoming resources and resources exyded detive from continuing activities. The notes on pages 8 to 13 form part of these accounts. SOCIAL WELFARE & EDU￿TION TRUST Page 7 IIANCE SHEET At 30tb June 2024 Notes 2024 FIXED ASSETS Tangble .4ssets 422206 CURRENT ASSETS Other debtors Cash in hand Cash at b8nk 3,749 86,90) 90,654 64,7?9 64,729 CREDITORS: Amouwfs FALIING DUE IFITHIN ONE YEAR Creditors 6? ?36 62 NET CURRENf ASSETS 90,418 64.667 TOTAL ASSETS LESS CURRENT IJABILITIES ACCUMU]ATED FUNDS Ufttestricted funds brought forward Untrstritted teseThrs for curttnt year 486,873 ?5,751 464,782 22,091 486,873 We approve these accounts and confimi that we have made available all the information and explanations for their prep￿atiOn, Trn8tee Mr Khalid Mahmood Tru8tee Mr Zulfaqar Ali Yusaf Date . The notes on pages 8 to 13 fonn part of these a￿oUnt$. SOCIAL IFELFARE & EDUCATION TRUST NOTES TO THE ACCOUNTS For the year ended 30 June 2024 Page 8 I. ACCOUNTING POLICIES The principal accounting polictes adopted, judgments and key sources of estimation uncertainty in the preparatson ot the tinancial statements are as follows: Basis of accounting The financial ststements have been prepared in accord2nce with Accounting and Reporttng by Charities.. Statement of Recommended Practice applicable to ch2rÉties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 2nd Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin I published on 2 February 2016) - (Charities bORP (FRb 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Preparation of the accounts on a going concern ba818 The trustees consider that there are no material uncertainties about the ch2ritsble companrfs ability to Continue as a gO￿g concern. The ttustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a stgniticant risk of causing a m2terial adjustment to the carrying amount ot assets and h'abilities withi'n the next trporting period. Income Income is recognised ivhen the charity has entidement to the fill￿s, any performance conditions attached to the item(s) of income have been me¢ it is probable that the income will be received and the amount can be measured reliably. Donated services and facilities Donated professional services and donated facilities are recognised as income ivhen the charity has control over the Ite￿ any conditions associated with the donated item have been me¢ the receipt of economic benefit from the use by the charity of the item is pn)b2ble and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised: refer to the trnstees annual report for more Inforn￿tion about their contribution. On receip¢ donated protessional services and donated facilities are recognised on the basis of the value of the glft to the charEty which is the amount the charity would have been willing to pay to obtain services or facilities of equiv21ent economic benefit on the open marketr, a corresponding amount is then recognised in Gypenditure in the period ot receipt. SOCIAL WELFARE & EDUCATION TRUST NOTES TO THE ACCOUNTS (CONTINUED) For the year ended 30 June 2024 Page 9 Curyent asset investments The charity holds no investments Taxation The charlty is exempt from corporation tsx on its diaritable actiNities Fund accountlng Unrestricted tunds are ivailable to spend on activities that fither any of the purposes of charity. Designated ￿ndS are unrestricted funds of the charity which the ttiistees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for partAcular arffds of the charl￿S work or tor specitic projects being undertaken by the ch2rity. Expenditure and irrecoverable VAT ¥pendi￿re is recognised once there is a legal or constiuctiTre obligation to m2ke 2 payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Eypenth'ture is classified under the following activity headings: Eypendittre on charitable activities includes the costs undertaken to ￿rther the purposes of the charlty and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the &xpenditure was incurred. Allocation of support CO8t8 Support costs are those ￿nCtionS that assist the work of the charity but do not directly undertake ch2ritable activities. Support costs include back office costs, financ4 personnel, p25roII and goiremance costs which support the charity's programmes and activities. Operating lea8e8 Operating leases are leases in which the tide to the assets, and the risks and rewards ot ownership, remaxn with the lessor. Rental charges are charged on a straight line b&8is over the terni of the lease. Tangible fixed a8sets Individual fLYed assets costing £iOO or more are capitalised at cost and are depreaated over their estimated useful economic h'ves on a $tr2ight b'ne basis as follows: Fixtures & Equipment 25,/0 on cost Cornputers & Equipment 250/0 on cost Play Equipment 25./0 on cost SOCIAL WELFARE & EDUCATION TRUST Page 10 NOTES TO THE ACCOUNTS For the year ended 30 June 2024 Debtors Trade 2nd other debtors are recognised at the settlement amount due after any trade discount otTered. PreFayments are Tr alued at the amount prepaid rtet of any trade discounts due. Cash at bank and at hand The charl￿S cash at bank and in hand indudes the availability of funds as at 30 June 2024. Creditors and provi8ion8 Creditors and proFisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transter of ￿ndS to a third paty and the amount due to settle the obli￿tiOn can be me2sured or estimated reh'ably. Creditors and provisions 2re nonnally recognised at their settlement amount after allowing for any trade discounts due. Financial An8truments The charity only has financial assets and financial Itabih'ties of a ku]d that qualify as basic finanaal insttuments. Basic financial instDJments are inttially recogmsed at transaction r21ue 2nd subsequendy measured at their settlement Falue with the exception of bank loans which are subsequently measured at 2mortised cost using the effective interest metho(L Pension8 Employees ot the chariry have been auto enrolled onto a pension scheme to which the charlty contributes. 2.STAFF COSTS 2024 2023 St￿￿ salaries and NIC 51327 33,729 The aFerage number of employee during the year were: Number Number Administration "olunteers SOCIAL WELFARE & EDUCATION TRUST Page 11 NOTES TO THE ACCOUNTS For the Year Ended June 2024 3. TANGIBLE FIXED ASSETS LAnd & TOTAL Building COST Brought foThvard 422,206 422206 Disposal -4dditions At 30 June 2023 422,206 422,206 NET BOOK VALUE At 30 June 2024 422,206 422206 At 30 June 2023 422,206 4.DEBTORS 2024 2023 Other debtors 5.CREDITORS 2024 2023 PAYE & NIC control account Pension Interest free loan 236 62 236 62 SOCIAL WELFARE & EDUCATION TRUST Pgge 12 NOTES TO THE ACCOUNTS For the Year Ended A) June 2024 6. ANALYSIS OF INCOME AND EXPENDITURE une 2024 General Restr- Acted une 2023 Total General Restr. Total Income Donations & Lwcies (Ftida)" collettions) HNaic Covid.19 grants Othei Income Icome from Charitable actiTitie8 ladtLsa fre 74,036 74,036 3).471 35,471 9,573 9,573 19,815 19,815 18,168 IOL777 18,168 101,777 22,033 79J19 79,319 Expenditure on dwitable activitie8> Heat& hghts Rates & ￿..ater rates Tdephone Wages & Salaries Penston 7,487 896 375 52,327 7,487 896 375 513?7 4,297 4297 800 431 33.729 509 431 33,729 509 Governance Costs. Accountsncy & Payroll Other legal & professional Other Lypenses Bank charAEs 1632 499 651 499 651 4,648 4,648 782 Support Costs: Piintillg & Strationer! Sundry Eiyen>*es Repaits & ttnewals Insurance 4.356 3,723 3,100 1,635 J1814 4,356 3.723 3,100 1,635 3,865 5290 1,904 3,865 5,390 1,904 Otbu Income Rent Receivable NET INCOME 25,751 2S751 FUNDS BROLIGFrr FORWARD 410,960 388,869 388,869 FUNDS G4RRIED FORWARD 43@711 25,751 SOCIAL WELFARE & EDUCATION TRUST Page 13 NOTES TO THE ACCOUNTS For the year ended 30 June 2024 7. ACCUMUIATED FUNDS GENELIL FUNDS RESTRICTED FUNDS TOTAL Balance at 30 June 2023 ,Net income Balance at 30 June 2024 410,960 25,751 436,711 410,960 25,751 436,711 8. CONTROLLING PARTY Charity in under the share control of Trustees named on page l of the accounts. 9. REIATED PARTY TRANSACTION There has been no transaction with the trustess during the year in any fonn. (2023 nil)