REGISTERED CHARITY NUMBER: 1138079
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
THE RIBAT INSTITUTE
Owadally & King Chartered Certified Accountants 73 Park Lane Croydon Surrey CR0 1JG
THE RIBAT INSTITUTE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
THE RIBAT INSTITUTE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1138079
Principal address
PO BOX 1352 Woking Surrey GU22 2GH
Trustees
R Qureshi N Qureshi H Masud
Independent Examiner
Owadally & King Chartered Certified Accountants 73 Park Lane Croydon Surrey CR0 1JG
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... R Qureshi - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RIBAT INSTITUTE
Independent examiner's report to the trustees of The Ribat Institute
I report to the charity trustees on my examination of the accounts of The Ribat Institute (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Owadally and King ACCA Owadally & King Chartered Certified Accountants 73 Park Lane Croydon Surrey CR0 1JG
Date: .............................................
Page 2
THE RIBAT INSTITUTE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 120,507 Other trading activities 2 47,664 Total 168,171 EXPENDITURE ON Raising funds 3 116,525 Other 17,898 Total 134,423 NET INCOME/(EXPENDITURE) 33,748 RECONCILIATION OF FUNDS Total funds brought forward 437,701 TOTAL FUNDS CARRIED FORWARD 471,449 |
Restricted funds £ 53,243 - 53,243 - 56,027 56,027 (2,784) 21,068 18,284 |
2020 Total funds £ 173,750 47,664 221,414 116,525 73,925 190,450 30,964 458,769 489,733 |
2019 Total funds £ 284,112 106,567 |
|---|---|---|---|
| 390,679 208,782 115,569 |
|||
| 324,351 | |||
| 66,328 393,882 |
|||
| 460,210 |
The notes form part of these financial statements
Page 3
THE RIBAT INSTITUTE
BALANCE SHEET 31 DECEMBER 2020
| Unrestricted fund Notes £ FIXED ASSETS Investments 8 196 CURRENT ASSETS Debtors 9 424,605 Cash at bank and in hand 69,162 493,767 CREDITORS Amounts falling due within one year 10 (4,331) NET CURRENT ASSETS 489,436 TOTAL ASSETS LESS CURRENT LIABILITIES 489,632 NET ASSETS 489,632 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 18,284 18,284 - 18,284 18,284 18,284 |
2020 Total funds £ 196 424,605 87,446 512,051 (4,331) 507,720 507,916 507,916 489,632 18,284 507,916 |
2019 Total funds £ 195 408,884 51,822 460,706 (2,131) 458,575 458,770 458,770 437,702 21,068 458,770 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R Qureshi - Trustee
The notes form part of these financial statements
Page 4
THE RIBAT INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared 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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost Computer equipment - 20% on cost
Related party exemption
The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 5
continued...
THE RIBAT INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Activities income Gift aid Other income Tuition Fee |
2020 £ 615 14,712 25 32,312 47,664 |
2019 £ 3,150 54,069 91 49,257 |
| 106,567 |
3. RAISING FUNDS
Raising donations and legacies
| Fundraising Tuition costs Support costs |
2020 £ 2,198 75,228 4,172 81,598 |
2019 £ 6,531 89,791 2,360 |
|---|---|---|
| 98,682 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2020 | 2019 | |
|---|---|---|
| Number of employees | 2 | 2 |
No employees received emoluments in excess of £60,000.
Page 6
continued...
THE RIBAT INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 248,784 35,328 Other trading activities 106,567 - Total 355,351 35,328 EXPENDITURE ON Raising funds 208,782 - Other 59,321 56,248 Total 268,103 56,248 NET INCOME/(EXPENDITURE) 87,248 (20,920) RECONCILIATION OF FUNDS Total funds brought forward 351,894 41,988 TOTAL FUNDS CARRIED FORWARD 439,142 21,068 7. TANGIBLE FIXED ASSETS Motor Computer vehicles equipment £ £ COST At 1 January 2020 and 31 December 2020 5,880 685 DEPRECIATION At 1 January 2020 and 31 December 2020 5,880 685 NET BOOK VALUE At 31 December 2020 - - At 31 December 2019 - - |
Total funds £ 284,112 106,567 |
|---|---|
| 390,679 208,782 115,569 |
|
| 324,351 | |
| 66,328 393,882 |
|
| 460,210 | |
| Totals £ 6,565 6,565 - - |
continued...
Page 7
THE RIBAT INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
8. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2020 Additions At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 There were no investment assets outside the UK. 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and social security Other creditors 11. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 437,701 Restricted funds Community Support 21,068 TOTAL FUNDS 458,769 |
Unlisted investments £ 195 1 196 196 195 2020 2019 £ £ 13,078 41,604 411,527 367,280 424,605 408,884 2020 2019 £ £ 554 (97) 3,777 2,228 4,331 2,131 Net movement At in funds 31.12.20 £ £ 51,931 489,632 (2,784) 18,284 49,147 507,916 |
|---|---|
continued...
Page 8
THE RIBAT INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 187,794 Restricted funds Community Support 53,243 TOTAL FUNDS 241,037 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 351,894 Restricted funds Community Support 41,988 TOTAL FUNDS 393,882 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 355,351 Restricted funds Community Support 35,328 TOTAL FUNDS 390,679 |
Resources Movement expended in funds £ £ (135,863) 51,931 (56,027) (2,784) (191,890) 49,147 Net movement At in funds 31.12.19 £ £ 85,808 437,702 (20,920) 21,068 64,888 458,770 Resources Movement expended in funds £ £ (269,543) 85,808 (56,248) (20,920) (325,791) 64,888 |
|---|---|
continued...
Page 9
THE RIBAT INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Community Support TOTAL FUNDS |
At 1.1.19 £ 351,894 41,988 393,882 |
Net movement in funds £ 137,739 (23,704) 114,035 |
At 31.12.20 £ 489,633 18,284 |
|---|---|---|---|
| 507,917 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Community Support TOTAL FUNDS |
Incoming resources £ 543,145 88,571 631,716 |
Resources Movement expended in funds £ £ (405,406) 137,739 (112,275) (23,704) (517,681) 114,035 |
Resources Movement expended in funds £ £ (405,406) 137,739 (112,275) (23,704) (517,681) 114,035 |
|---|---|---|---|
| 114,035 |
12. RELATED PARTY DISCLOSURES
Other debtors balance is a loan which was given to Organic Beginnings Ltd and Conquest Trading Limited, a trading entity where The Ribat Institute has controlling interest. Any profit made by Organic Beginnings Ltd and Conquest Trading Limited are donated back to the Charity.
Page 10
THE RIBAT INSTITUTE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Activities income Gift aid Other income Tuition Fee Charitable activities Grants Total incoming resources EXPENDITURE Raising donations and legacies Fundraising Tuition costs Other trading activities Wages Social security Pensions Cost of merchandise Education resources Activities expenses Other Rent Staff training Insurance Computer consumables Support costs Management Postage and stationery |
2020 £ 173,750 615 14,712 25 32,312 47,664 19,623 241,037 2,198 75,228 77,426 30,000 1,726 - 78 2,804 319 34,927 11,197 122 1,117 5,514 17,950 322 |
2019 £ 284,112 3,150 54,069 91 49,257 |
|---|---|---|
| 106,567 - |
||
| 390,679 6,531 89,791 |
||
| 96,322 30,464 1,622 60 38,909 21,453 17,592 |
||
| 110,100 35,663 2,285 854 11,649 |
||
| 50,451 743 |
This page does not form part of the statutory financial statements
Page 11
THE RIBAT INSTITUTE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Management Other Motor and travelling expenses Other 2 Donations Governance costs Bank charges Total resources expended Net income |
2020 £ 2,223 56,027 1,575 190,450 50,587 |
2019 £ 8,870 56,248 1,617 |
|---|---|---|
| 324,351 | ||
| 66,328 |
This page does not form part of the statutory financial statements
Page 12