**REGISTERED CHARITY NUMBER: 1138079** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2023** ## **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 2023** |||**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 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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** 73 Park Lane Croydon Surrey CR0 1JG ## **Trustees** H Masud A Mahmood (resigned 3.1.2023) M Joghee W Sohail (appointed 3.1.2023) ## **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: ...................................................................... H Masud - 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 2023. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the 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. Owadally and King 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 2023** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
334,792
Other trading activities
2
52,470
**Total**
387,262
**EXPENDITURE ON**
Raising funds
3
204,645
Other
95,784
**Total**
300,429
**NET INCOME/(EXPENDITURE)**
86,833
**RECONCILIATION OF FUNDS**
Total funds brought forward
517,946
**TOTAL FUNDS CARRIED FORWARD**
604,779|Restricted
funds
£
-
-
-
-
15,271
15,271
(15,271)
15,271
-|2023
Total
funds
£
334,792
52,470
387,262
204,645
111,055
315,700
71,562
533,217
604,779|2022
Total
funds
£
277,698
62,979| |---|---|---|---| ||||340,677| ||||294,942
34,806| ||||329,748| ||||10,929
522,288| ||||533,217| The notes form part of these financial statements Page 3 ## **THE RIBAT INSTITUTE** ## **Balance Sheet 31 DECEMBER 2023** |Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
11
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
432,802
248,599
115,899
364,498
(2,519)
361,979
794,781
(190,002)
604,779|Restricted
funds
£
-
-
-
-
-
-
-
-
-|2023
Total
funds
£
432,802
248,599
115,899
364,498
(2,519)
361,979
794,781
(190,002)
604,779
604,779
-
604,779|2022
Total
funds
£
432,802
166,203
128,132
294,335
(3,919)
290,416
723,218
(190,001)
533,217
517,946
15,271
533,217| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. H Masud - 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 2023** ## **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. 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 2023** ## **2. OTHER TRADING ACTIVITIES** |Other income
Tuition Fee
**RAISING FUNDS**
**Raising donations and legacies**
Fundraising
Tuition costs
Support costs|| |---|---| ## **3. RAISING FUNDS** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **5. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **6.** |Number of employees
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
277,698
Other trading activities
62,979
**Total**
340,677
**EXPENDITURE ON**
Raising funds
286,731|2023
4
Restricted
funds
£
-
-
-
8,211|2022
4
Total
funds
£
277,698
62,979| |---|---|---| |||340,677| |||294,942| Page 6 continued... **THE RIBAT INSTITUTE** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023** |**6.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||| |---|---|---|---|---|---| |||Unrestricted|Restricted||Total| |||fund|funds||funds| |||£|£||£| ||Other|34,806||-|34,806| ||**Total**|321,537|8,211||329,748| ||**NET INCOME/(EXPENDITURE)**|19,140|(8,211)||10,929| ||**RECONCILIATION OF FUNDS**||||| ||Total funds brought forward|498,806|23,482||522,288| ||**TOTAL FUNDS CARRIED FORWARD**|517,946|15,271||533,217| |**7.**|**TANGIBLE FIXED ASSETS**||||| ||||||Computer| ||||||equipment| ||||||£| ||**COST**||||| ||At 1 January 2023 and 31 December 2023||||685| ||**DEPRECIATION**||||| ||At 1 January 2023 and 31 December 2023||||685| ||**NET BOOK VALUE**||||| ||At 31 December 2023||||-| ||At 31 December 2022||||-| |**8.**|**FIXED ASSET INVESTMENTS**||||| ||||||Unlisted| ||||||investments| ||||||£| ||**MARKET VALUE**||||| ||At 1 January 2023 and 31 December 2023||||432,802| ||**NET BOOK VALUE**||||| ||At 31 December 2023||||432,802| ||At 31 December 2022||||432,802| ||There were no investment assets outside the UK.||||| continued... Page 7 **THE RIBAT INSTITUTE** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023** |**9.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||| |---|---|---|---|---|---|---|---| |||||||2023|2022| |||||||£|£| ||Other debtors|||||248,599|166,203| |**10.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||| |||||||2023|2022| |||||||£|£| ||Taxation and social security|||||(481)|(481)| ||Other creditors|||||3,000|4,400| |||||||2,519|3,919| |**11.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**||**ONE YEAR**||||| |||||||2023|2022| |||||||£|£| ||Other creditors|||||190,002|190,001| |**12.**|**MOVEMENT IN FUNDS**||||||| |||||||Net|| ||||||movement||At| |||At|1.1.23|||in funds|31.12.23| ||||£|||£|£| ||**Unrestricted funds**||||||| ||General fund|517,946||||86,833|604,779| ||**Restricted funds**||||||| ||Community Support|15,271||||(15,271)|-| ||**TOTAL FUNDS**|533,217||||71,562|604,779| ||Net movement in funds, included in the above are as follows:||||||| |||Incoming|||Resources||Movement| |||resources||||expended|in funds| ||||£|||£|£| ||**Unrestricted funds**||||||| ||General fund|387,262|||(300,429)||86,833| ||**Restricted funds**||||||| ||Community Support|||-||(15,271)|(15,271)| ||**TOTAL FUNDS**|387,262|||(315,700)||71,562| continued... Page 8 **THE RIBAT INSTITUTE** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **12. MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |At 1.1.22
£
**Unrestricted funds**
General fund
498,806
**Restricted funds**
Community Support
23,482
**TOTAL FUNDS**
522,288
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
340,677
**Restricted funds**
Community Support
-
**TOTAL FUNDS**
340,677|Net
movement
At
in funds
31.12.22
£
£
19,140
517,946
(8,211)
15,271
10,929
533,217
Resources
Movement
expended
in funds
£
£
(321,537)
19,140
(8,211)
(8,211)
(329,748)
10,929|At
31.12.22
£
517,946
15,271| |---|---|---| |||533,217| |||10,929| 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 1.1.22
£
498,806
23,482
522,288|Net
movement
in funds
£
105,973
(23,482)
82,491|At
31.12.23
£
604,779
-| |---|---|---|---| ||||604,779| continued... Page 9 **THE RIBAT INSTITUTE** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **12. MOVEMENT IN FUNDS - continued** 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
£
727,939
-
727,939|Resources
Movement
expended
in funds
£
£
(621,966)
105,973
(23,482)
(23,482)
(645,448)
82,491| |---|---|---| ## **13. RELATED PARTY DISCLOSURES** The other debtors represents a loan given to Organic Beginnings Limited, Conquest Trading Limited, Cantab Leisure Limited, and Sihha Limited. The Ribat Institute holds a controlling interest in these trading entities. Any profits generated by Organic Beginnings Limited, Conquest Trading Limited, Cantab Leisure Limited, and Sihha Limited are donated back to the charity. Page 10 **THE RIBAT INSTITUTE** ## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2023** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Other income
Tuition Fee
**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**
Telephone
Postage and stationery
**Finance**
Light and heat
Carried forward|2023
£
334,792
671
51,799
52,470
387,262
9,822
80,325
90,147
33,683
1,231
170
1,656
2,765
62,405
101,910
26,348
-
324
2,030
28,702
315
708
1,023
1,022
1,022|2022
£
277,698
54
62,925| |---|---|---| |||62,979| |||340,677
9,279
101,036| |||110,315
34,700
1,239
263
24,330
10,386
55,601| |||126,519
27,848
3,981
324
2,653| |||34,806
837
1,073| |||1,910
1,785
1,785| 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 2023** |**Finance**
Brought forward
Bank charges
**Information technology**
Repairs and renewals
**Other**
Motor and travelling expenses
**Other 2**
Donations
**Governance costs**
Accountancy
Legal and professional fees
Total resources expended
**Net income**|2023
£
1,022
1,486
2,508
-
877
89,033
1,500
-
1,500
315,700
71,562|2022
£
1,785
2,574| |---|---|---| |||4,359
23,959
10,439
8,211
1,500
7,730| |||9,230| |||329,748| |||10,929| This page does not form part of the statutory financial statements Page 12