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2023-08-31-accounts

Company Registration Number - 07341503

The Charity Registration Number is :- 1138757

Solihull Islamic Education Academy Ltd.

Report and Accounts

31 August 2023

Solihull Islamic Education Academy Ltd.

Report and accounts for the year ended 31 August 2023

Contents

Page
Charity information 1
Trustees' Annual Report 1
Statement of directors' responsibilities 6
Independent Accountant's Report 8
Funds Statements:-
Statement of Financial Activities 10
Statement of Financial Activities - Prior Year statement 11
Movements in funds 12
Revenue Funds 12
Income and Expenditure account 13
Summary of funds 12
Balance sheet 14
Notes to the accounts 16

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

The Trustees present their Report and Accounts for the year ended 31 August 2023, which also comprises the Directors' Report required by the Companies Act 2006.

Reference and administrative details

The charity name.

The legal name of the charity is:- Solihull Islamic Education Academy Ltd.

The charity is also known by its operating name, SIEA

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1138757

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

The Governing Document is dated 24 September 2010 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

The principal operating address, telephone number, email and web addresses of the charity are:-

Unit 6 Highlands Court Cranmore Avenue, Solihull West Midlands, B90 4LE

Telephone 01564 200497 Email Address issam.ghannam@gmail.com Web address www.siea.org.uk

The registered office of the charity for Companies Act purposes is:Unit 6 Highlands Court

Cranmore Avenue, Solihull West Midlands, B90 4LE

1

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

The Trustees in office on the date the report was approved were:-

Dr Issam Ghannam Mr Amanullah Khan Mr Mohammed Shan Mr Salim Mughal Mr Shahzad Naeem Mr Mohammed Iqbal Ally Mr Marwan Ghannam Mr Athar Ayaz Siddiqui Dr Mudassar Mehboob Suleman

The following persons served as Trustees during the year ended 31 August 2023 :-

The trustees who served as a trustee in the reporting period were as shown above.

All the trustees are also members of the charity.

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

Giving education to the general public on Islamic Studies and Asian Languages in supplementary schools and evening classes. This should promote good links between generations (Children Parents Grandparents). It should improve the next generations' skills in foreign languages that will help them deliver services to those who only speak Urdu, Arabic or Bangla. It improves the chances for people to advance their businesses with countries who speak these Asian languages.

The SIEA will promote itself to Muslims and non-Muslims students and by doing so, it aims to provide British people with facilities and platforms to promote community cohesion, improve interfaith relationship, and create healthy understanding of Islam when they mix with Muslims and learn about it from trusted sources. The SIEA will provide people with inclusiveness regardless of sex, race, colour or country of origin. Providing children with facilities to improve their understanding and achievement in subjects that are taught in state schools.

2

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

The main activities undertaken in relation to those purposes during the year.

The SIEA supplementary school for children aged 5 to 16 years remains a valuable resource in forming and developing young adults into highly motivated individuals with a strong sense of community and citizenship. The school continues to attract families from a wide social and cultural background. Our commitment remains steadfast to providing an exceptional education to all, with particular support being provided to those families on low income.

The SIEA supplementary school continues to provide quality education, which empowers children and adults to fully participate in the Society. We develop pride and confidence within the citizen ship framework with the objective of producing inspiring individuals.

The main activities undertaken during the year to further the charity's purpose for the public benefit.

The SIEA supplementary school for children aged 5 to 16 years continues to play an essential role in supporting new families and individuals who move to the area. It helps to introduce them to other people as well as providing an effective networking medium. Parents are able to share concerns and be pointed to the various facilities within the Council and Borough.

The Youth services and clubs have also continued to develop with a strong leadership team now in place.

Collective face to face worship continues to provide an essential forum to provide support for those facing personal bereavement and also provides an important posting role to local facilities

The main achievements and performance of the charity during the year.

Our education and teaching facilities have continued to grow and have achieved a return to preCovid levels in terms of students and classes. Some of the adaptive ways of learning developed during Covid have in fact enhanced our teaching resources with Teams and Zoom providing many new opportunities.

3

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

The difference the charity's performance during the year has made to the beneficiaries of the charity.

With greater range of courses, new skills have been developed in children and adults particulary in respect of foreign languages. These courses have improved foreign language skills in younger generation. This will help to bridge the gap between generations by improved communication.

The degree to which the achievements and performance during the year have benefited wider society.

Events held by the SIEA have provided platform for people from different social and cultural backgrounds to mix together. This has helped improve interfaith relationship,develop mutual respect and sense of inclusiveness regardless of background.

The SIEA has delivered presentation during the events that explored the ways to challenge those who espouse terrorism and extremism.

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

The SIEA board of directors may by ordinary two third majority appoint a person who is willing to act as a Director.

No person other than a replacement of Director retiring or resigned may be appointed as Director. Any SIEA director can give a notice that states the director’s intention to propose the appointment of a person as a Director and a further director’s intention to second that appointment and contains the details that, if the person were to be appointed, the SIEA would have to file at Companies House; and is signed by the person who is to be proposed to show his or her willingness to be appointed.

Bankers Accountants

Barclays Bank PLC. 201 Stratford Road, Solihull B90 3AT M R Mughal & Co. 253 Alcester Road South, Birmingham. B14 6DT

4

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

Financial review

The charity's financial position at the end of the year ended 31 August 2023

The financial position of the charity at 31 August 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Total Funds
Unrestricted Revenue Funds available for the
general purposes of the charity
Net income		 2023
£
56,090
753,237
753,237		 2022
£
111,661
697,147
697,147

Financial review of the position at the reporting date, 31 August 2023 .

The trustees consider the financial performance by the charity during the year to have been satisfactory. Specific changes in fixed assets are detailed in the notes to the accounts.

Policies on reserves.

The general reserves are used to support the on-going activities of the charity. The general reserve now stands at £753,237. The Trustees consider that these reserves provide an adequate buffer to support the activities of the charity.

Availability and adequacy of assets of each of the funds

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.

Details of The Independent Examiner

Mr M R Mughal Member of Chartered Certified Accountants 253 Alcester Road South Birmingham B14 6DT

5

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

Statement of the Directors' and Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

6

Solihull Islamic Education Academy Ltd.

Company Registration Number - 07341503

Trustees' Annual Report for the year ended 31 August 2023

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 10 to 21.

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 14 March 2024.

Mr Shahzad Naeem Director and Trustee

7

Solihull Islamic Education Academy Ltd.

Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 August 2023

I report to the Trustees on my examination of the financial statements of the charitable company on pages 10 to 21 for the year ended 31 August 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 16.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described on page 6, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner's Statement and scope of work undertaken

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

8

Solihull Islamic Education Academy Ltd.

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and 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 charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP).

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 financial statements to be reached.

Signed:-

Mr M R Mughal - Independent Examiner

Chartered Certified Accountants

253 Alcester Road South Birmingham B14 6DT

This report was signed on 20 March 2024

9

Solihull Islamic Education Academy Ltd. - Statement of Financial Activities for the year ended 31 August 2023

Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 August 2023, as required by the Companies Act 2006)

Current year
Unrestricted
Funds
2023
£
Income & Endowments from:
Donations & Legacies
A1
88,540
Charitable activities
A2
61,305
Investments
A4
13,177
Total income
A
163,022
Expenditure on:
Charitable activities
B2
106,932
Total expenditure
B
106,932
Net income for the year
56,090
Net income after transfers
A-B-C
56,090
56,090
Reconciliation of funds:-
E
Total funds brought forward
697,147
Total funds carried forward
753,237
Net movement in funds
SORP
Ref		 Current year
Unrestricted
Funds
2023
£
88,540
61,305
13,177		 Current year
Restricted
Funds
2023
£
-
-
-		 Current year
Total Funds
2023
£
88,540
61,305
13,177
163,022
106,932
106,932
56,090
56,090
56,090
697,147
753,237		 Prior Year
Total Funds
2022
£
132,853
49,214
9,400
163,022 - 191,467
106,932 - 79,806
106,932 - 79,806
56,090 - 111,661
- 111,661
56,090
697,147		 -
-		 111,661
585,486
753,237 - 697,147

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All the prior year transactions were unrestricted items, and no further analysis is required

All activities derive from continuing operations

The notes attached on pages 16 to 21 form an integral part of these accounts.

10

Solihull Islamic Education Academy Ltd. - Statement of Financial Activities for the year ended 31 August 2023

Income from:
Donations & Legacies
A1
Charitable activities
A2
Investments
A4
Total income
A
Expenditure on:
Charitable activities
B2
Total expenditure
B
Net income for the year
Net income after transfers
Reconciliation of funds:-
E
Total funds brought forward
Total funds carried forward
SORP
Ref
Net movement in funds		 Prior Year
Unrestricted
Funds
2022
£
37,690
55,484
8,595		 Prior Year
Restricted
Funds
2022
£
-
-
-		 Prior Year
Total Funds
2022
£
132,853
49,214
9,400
191,467
79,806
79,806
111,661
111,661
111,661
585,486
101,769 -
65,504 -
65,504 -
36,265 -
36,265 -
36,265
585,486		 -
-
621,751 - 697,147

All activities derive from continuing operations

Solihull Islamic Education Academy Ltd. - Resources applied in the year ended 31 August 2023 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Net resources available to fund charitable activities		 2023
£
56,090
-
56,090		 2022
£
111,661
(25,700)
85,961

The notes attached on pages 16 to 21 form an integral part of these accounts.

11

Solihull Islamic Education Academy Ltd. - Statement of Financial Activities for the year ended 31 August 2023

Movements in revenue and capital funds for the year ended 31 August 2023

Revenue accumulated funds

Accumulated funds brought forward
Closing revenue funds
Summary of funds
Revenue accumulated funds
Recognised gains and losses before transfers		 Unrestricted
Funds
2023
£
697,147
56,090		 Restricted
Funds
2023
£
-
-		 Total
Funds
2023
£
697,147
56,090
753,237
753,237
Total
Funds
2023
£
753,237		 Last year
Total Funds
2022
£
585,486
111,661
753,237 - 697,147
753,237 - 697,147
Last Year
Total Funds
2022
£
697,147

The notes attached on pages 16 to 21 form an integral part of these accounts.

12

Solihull Islamic Education Academy Ltd. - Statement of Financial Activities for the year ended 31 August 2023

Solihull Islamic Education Academy Ltd.

Income and Expenditure Account for the year ended 31 August 2023 as required by the Companies Act 2006

2023
£
Income
Income from operations
149,845
Income from investments, other than interest receivable
11,000
Interest receivable
2,177
Gross income in the year before exceptional items
163,022
Gross income in the year including exceptional items
163,022
Expenditure
Charitable expenditure, excluding depreciation and amortisation
95,390
Depreciation and amortisation
10,642
Governance costs
900
Realised losses on disposals of social investments which are programme related
-
Total expenditure in the year
106,932
56,090
Tax on surplus on ordinary activities
-
56,090
Retained surplus for the financial year
56,090
All activities derive from continuing operations
Net income after tax in the financial year
Net income before tax in the financial year
Investment income		 2022
£
182,067
9,328
72
191,467
191,467
68,264
10,642
900
-
79,806
111,661
-
111,661
111,661

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 16 to 21 form an integral part of these accounts.

13

Solihull Islamic Education Academy Ltd. - Balance Sheet as at 31 August 2023

Note
SORP
Ref
Fixed assets
A
Tangible assets
10
A2
Current assets
B
Debtors
11
B2
3,053
Cash at bank and in hand
B4
330,754
Total current assets
333,807
Creditors: amounts falling due within
one year
12
C1
(33,898)
Net current assets
The total net assets of the charity
Restricted funds
Unrestricted Funds
Unrestricted Revenue Funds
15
D3
Designated Funds
Total charity funds
The total net assets of the charity are funded by the funds of the		 3,053
330,754		 2023
£
453,328
1,153
263,542
264,695
(31,518)
299,909
753,237
753,237
753,237
charity, as follows:-		 1,153
263,542		 2022
£
463,970
233,177
333,807
(33,898)		 264,695
(31,518)
697,147
697,147
697,147

14

Solihull Islamic Education Academy Ltd. - Balance Sheet as at 31 August 2023

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 9.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Mr Shahzad Naeem

Trustee Approved by the board of trustees on 14 March 2024

The notes attached on pages 16 to 21 form an integral part of these accounts.

15

Solihull Islamic Education Academy Ltd.

Notes to the Accounts for the year ended 31 August 2023

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Going Concern

The charitable activities are entirely dependent on continuing voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.

Policies relating to categories of income and income recognition.

Accounting for deferred income and income received in advance

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

16

Solihull Islamic Education Academy Ltd.

Notes to the Accounts for the year ended 31 August 2023

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Allocating costs to activities

Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :-

Staffing - on the basis of time spent in connection with any particular activity. Staffing - on a per capita basis, based on the number of of people employed within any partiular activity. Premises related costs - on the proportion of floor area occupied by a particular activity.

Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note6.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over t estimated useful lives.

Freehold premises

2 % straight line

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

17

Solihull Islamic Education Academy Ltd.

Notes to the Accounts for the year ended 31 August 2023

Creditors and provisions

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Significance of financial instruments to the charity's position

There are no significant implications of such matters.

5 Net surplus before tax in the financial year

Depreciation of owned fixed assets
The net surplus before tax in the financial year is stated after charging:-		 2023
£
10,642		 2022
£
10,642

6 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

7 Staff costs and emoluments

Salary costs
Gross Salaries excluding trustees and key management personnel
Total salaries, wages and related costs
Numbers of full time employees or full time equivalents
The average number of total staff employed in the year was		 2023
£
55,067		 2022
£
42,518
55,067 42,518
2023
10		 2022
9

Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.

No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.

18

Solihull Islamic Education Academy Ltd.

Notes to the Accounts for the year ended 31 August 2023

8 Remuneration and payments to Trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

9 Deferred income - Unrestricted and Designated funds

School fees received in advance
Total
These deferrals are included in creditors		 Opening
Deferrals
£
30,826		 Released
from prior
years
£
30,826		 Received
less released
in year
£
33,252		 Deferred
at year end
£
33,252
30,826 30,826 33,252 33,252
2023
£
33,252		 2022
£
30,826

The deferrals included in creditors relate to school fees received in advance as relating to specific periods and represent those parts which relate to periods subsequent to the accounting year end and are treated as receipts in advance, or, alternatively, where there are conditions which must be fulfilled prior to entitlement or use of the unrestricted funds by the h i

10 Tangible fixed assets

Cost
At 1 September 2022
Additions
At 31 August 2023
Depreciation
At 1 September 2022
Charge for the year
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022
Debtors
Prepayments and accrued income		 Land and
Buildings
£
532,089
-		 Plant &
Machinery
£
-
-		 Motor
Vehicles
£
-
-		 Total
£
532,089
-
532,089 - - 532,089
68,119
10,642		 -
-		 -
-		 68,119
10,642
78,761 - - 78,761
453,328 - - 453,328
463,970 - - 463,970
2023
£
3,053		 2022
£
1,153

11 Debtors

Prepayments and accrued income

19

Solihull Islamic Education Academy Ltd.

Notes to the Accounts for the year ended 31 August 2023

12 Creditors: amounts falling due within one year
Accruals
Deferred Income - Unrestricted & designated funds
PAYE, NIC VAT and other taxes
13 Income and Expenditure account summary
At 1 September 2022
Surplus after tax for the year
At 31 August 2023		 2023
£
600
33,252
46		 2022
£
600
30,826
92
33,898 31,518
2023
£
697,147
56,090		 2022
£
585,486
111,661
753,237 697,147

14 Particulars of how particular funds are represented by assets and liabilities

At 31 August 2023
Tangible Fixed Assets
Current Assets
Current Liabilities
At 1 September 2022
Tangible Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
funds
£
453,328
333,807
(33,898)		 Designated
funds
£
-
-		 Restricted
funds
£
-
-
-		 Total
Funds
£
453,328
333,807
(33,898)
753,237 - - 753,237
Unrestricted
funds
£
463,970
264,695
(31,518)		 Designated
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 Total
Funds
£
463,970
264,695
(31,518)
697,147 - - 697,147

20

Solihull Islamic Education Academy Ltd.

Notes to the Accounts for the year ended 31 August 2023

15 Change in total funds over the year as shown in Note 14 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Total unrestricted and designated funds
Total charity funds		 £
697,147
Funds brought
forward from
2022		 See Note 16
£
56,090
Movement in
funds in 2023		 See Note 0
£
-
Transfers
between
funds in 2023		 £
753,237
Funds carried
forward to
2024
697,147 56,090 - 753,237
697,147 56,090 - 753,237

16 Analysis of movements in funds over the year as shown in Note 15

Other
Income Expenditure Gains & Movement
Losses in funds
2023 2023 2023 2023
£ £ £ £
Unrestricted and designated funds:-
Unrestricted Revenue Funds 163,022 (106,932) - 56,090

17 The purposes for which the funds as detailed in note 15 are held by the charity are:-

Unrestricted and designated funds:-

Unrestricted Revenue Funds

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.

Restricted funds:-

18 Ultimate controlling party

The charity is under the control of its legal members.

Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

21

Solihull Islamic Education Academy Ltd.

Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

19
Donations and Legacies
Current year
Unrestricted
Funds
2023
£
Donations and gifts from individuals
70,366
18,174
88,540
Revenue grants from government and public bodies
-
-
Revenue grants and donations from non public bodies
-
-
Donations and gifts from individuals
Total private sector revenue grants
Gift aid donation claims
Coronavirus Job Retention Scheme
Total donations and gifts from individuals
Donations from non public bodies
Total public sector revenue grants		 Current year
Unrestricted
Funds
2023
£
70,366
18,174		 Current year
Restricted
Funds
2023
£
-
-
-
-
-
-
-		 Current year
Total Funds
2023
£
70,366
18,174
88,540
-
-
-
-		 Prior Year
Total Funds
2022
£
47,853
-
88,540 47,853
-
-
85,000
- 85,000
Total Donations and Legacies
A1
88,540
20 Income from charitable activities - Trading Activities
Current year
Unrestricted
Funds
2023
£
Primary purpose and ancillary trading
61,305
61,305
Total Primary purpose and ancillary trading
School fees		 -
Current year
Restricted
Funds
2023
£
-
-		 88,540
Current year
Total Funds
2023
£
61,305
61,305
88,540 132,853
Prior Year
Total Funds
2022
£
49,214
61,305 49,214

22

Solihull Islamic Education Academy Ltd.

Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015

21 Total Income from charitable activities

Current year
Unrestricted
Funds
£
2023
Total income from charitable trading
61,305
Total from charitable activities
A2
61,305		 Current year
Unrestricted
Funds
£
2023
61,305		 Current year
Restricted
Funds
£
2023
-
-		 Current year
Total Funds
£
2023
61,305
61,305		 Prior Year
Total Funds
£
2022
49,214
49,214

22 Investment income

Investment income
Property Rental Income
Bank Interest Receivable
Total investment income
A4		 Current year
Unrestricted
Funds
2023
£
11,000
2,177		 Current year
Restricted
Funds
2023
£
-
-
-		 Current year
Total Funds
2023
£
11,000
2,177
13,177		 Prior Year
Total Funds
2022
£
9,328
72
13,177 9,400

23 Expenditure on charitable activities - Direct spending

Current year
Unrestricted
Funds
2023
£
55,067
Total direct spending
B2a
55,067
Gross wages and salaries - charitable activities		 Current year
Unrestricted
Funds
2023
£
55,067		 Current year
Restricted
Funds
2023
£
-
-		 Current year
Total Funds
2023
£
55,067
55,067		 Prior Year
Total Funds
2022
£
42,518
42,518

24 Expenditure on charitable activities - Charitable trading

Current year
Unrestricted
Funds
2023
£
19,107
Reallocated from support costs
31,858
Total charitable trading costs
B2b
50,965
Cost of charitable letting of none investment
property		 Current year
Unrestricted
Funds
2023
£
19,107
31,858		 Current year
Restricted
Funds
2023
£
-
-		 Current year
Prior Year
Total Funds
Total Funds
2023
2022
£
£
19,107
14,078
31,858
22,310
- 50,965
36,388

23

Solihull Islamic Education Academy Ltd.

Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015

25
Current year
Current year
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
Premises Expenses
2,592
-
2,930
-
5,221
-
1,860
-
Administrative overheads
641
-
434
-
5,897
-
Professional fees paid to advisors other than the auditor or examiner
1,051
-
Financial costs
590
-
10,642
-
Support costs before reallocation
31,858
-
Less support costs reallocated to specific activities
To charitable trading costs
(31,858)
-
Stationery and printing
Telephone, fax and internet
Support costs for charitable activities
Property insurance
Light heat and power
Premises repairs, renewals and maintenance
Sundry expenses
Other legal and professional
Depreciation & Amortisation in total for the
Bank charges
Rates and water charges		 Current year
Prior Year
Total Funds
Total Funds
2023
2022
£
£
2,592
2,562
2,930
2,106
5,221
1,491
1,860
1,715
641
486
434
307
5,897
2,646
1,051
-
590
355
10,642
10,642
31,858
22,310
(31,858)
(22,310)

The basis of allocation of costs between activities is described under accounting policies

26 Other Expenditure - Governance costs

Independent Examiner's fees
Total Governance costs		 Current year
Unrestricted
Funds
2023
£
900		 Current year
Restricted
Funds
2023
£
-
-		 Current year
Total Funds
2023
£
900
900		 Prior Year
Total Funds
2022
£
900
900 900

24

Solihull Islamic Education Academy Ltd.

Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015

27 Total Charitable expenditure
Current year
Unrestricted
Funds
2023
£
Total direct spending
B2a
55,067
Total charitable trading costs
B2b
50,965
Total Governance costs
B2e
900
Total charitable expenditure
B2
106,932		 27 Total Charitable expenditure
Current year
Unrestricted
Funds
2023
£
Total direct spending
B2a
55,067
Total charitable trading costs
B2b
50,965
Total Governance costs
B2e
900
Total charitable expenditure
B2
106,932		 Current year
Current year
Prior Year
Restricted
Funds
Total Funds
Total Funds
2023
2023
2022
£
£
£
-
55,067
42,518
-
50,965
36,388
-
900
900
-
106,932
79,806

25