Company Registration NLJmber- 07341503 The Charity Registration Number is 1138757 Solihull Islamic Education Academy Ltd. Report and Accounts 31 August 2024
Sollhull Islamlc Educatlon Academy Ltd. Report and accounts for the year ended 31 August 2024 Contents Page Charity infomiation Trustees. Annual Report statement of directors. responsibilities Independent Accountant'5 Report Funds Statements... Statement of Financial Activities 10 Statement of Financial Activities- Prior Year statement Movements in funds 12 Revenue Funds 12 InGome and Expenditure account Summary of funds 13 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 2024 The Trustees present their Report and Accounts lor the year ended 31 August 2024, which also comprises the Directors, Report required by the Cotllpanies 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 (>perating name, SIEA The ¢harily* areas operation and UK ¢h3ritable registration. The charity is registered in England & Wales with the Charity Comtnission in England & Wales ICCEWI with charity number 1138757 Legal structure of the charlty The charity is constituted as a cornpany limited by guarantee, registered under the Companies Acts . The goveming 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 goveming documents on the operation of the Charity or on its investment power5 Oth8r than thos8 itnposed by Charity Law. y operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Qharities legislation and havg responsibilities, as such, under both company 3nd charity legislation. The trustees gre 811 individuals. The principal operating address, telephone number, email and web addresses of the charity are'.- Unit 6 Highland5 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:_ Unil 6 Highlands Court Cranmore Avenue, Solihull Wesl Midlands, B90 4LE
Solihull Islamic Education Academy Ltd. Company Registration Number- 07341503 Trustees. Annual Report for the year ended 31 August 2024 Th• Trust••s in offic• on th• datè th• rèport was approvèd w•r•'.- Dr Issam Ghannam Dr Mudassar Mehboob Suleman Mr Mohammed Shan Mr Salim Mughal Mr Shahzad Naeem Mr Mohammed Iqbal Ally Mr Marwan Ghannam Mr Alhar Ayaz Siddiqui Mr Talha Ghannam Th• following rSoftS sèrvèd as Trustèès during thè yèar èndèd 31 August 2024 :. 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. The SIEA is dedicated lo providing education in Islamic Studies and Asian languages, offerir)g supplementary schooling and evening classes lo the general public. Through these educational initiatives, the charity seeks to strengthen inlergeneralional connections among children, parents, and grandparents, fostering cultural understanding and shared learning experiences. By enhancing language proficiency in Urdu, Arabic, and Bangla, SIEA empowers future generations to provide essential services to individuals who speak these languages. The SIEA is committed to welcoming both Muslim and non-muslim students, offering plarforms that promote community cohesion and inlerfailh dialogue. Through education, it seeks lo enh8nce Ljnderslanding of Islam by ensuring access lo credible and trusted sourTrs. The charity champions inclusivity, ensuring equal access to ils services regardless of gender, race, ethnicity, or country of origin. Furthermore, SIEA provides children wth the necessary educational support to enhance their knowledge and achievement in subjects laughl in stsle schools, contributing to their overall academic success and future opportunities.
Solihull Islamic Education Academy Ltd. Company Registration Number- 07341503 Trustees. Annual Report for the year ended 31 August 2024 The main activities undertaken in relation to those purposes during the year. The SIEA supplementary school for children aged 5 10 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 lo providing an exceptional education to all, wth particular support being provided to those families on low income. The SIEA supplementary school continues to provide quality edLJcalion, 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. Throughout the year. the SIEA has continued lo expand and enhance its educational programs, offering valuable inilialives that benefit the wider community. These programs include personal development training, guidance on the practical aspects of death and bereavement, langu8ge learning, and a range of regular social events designed to foster engagement and connection. Collective worship gatherings remain an integral part of SIEA'S efforts, providing a space for raising contemporary issues and addressing significant social and public health concerns. These gatherings serve as forums for meaningful discussions and Community reflection. The SIEA supplementary school, catering to children aged 5 10 16, has played a crucial role in supporting new members of the community by providing a welcoming environment for educational growth and the formation of local friendships and networks. It continues to serve as a vital educational hub. Additionally, SIEA has maintained its role as a bridge between the Community and local government. facililaling the dissemination of important public messages and initiatives lo ensure broader accessibility and understanding. The main achievements and performance of the charity during the year. Our education and leaching facilities remain dedicated lo fostering a strong sense of community through vibrant and engaging programs designed to accommodate learners of all ages and backgrounds. By offering inclusive and dynamic learning opportunities, we cultivate an environment where individuals can develop their skills, enhance their knowledge, and build meaningful connections within a diverse and supportive educational setting.
Solihull Islamic Education Academy Ltd. Company Registration Number- 07341503 Trustees. Annual Report for the year ended 31 August 2024 The difference the charitys performance during the year has made to the beneficiaries ol the charity. Through an expanded range of courses, both children and adults have acquired valuable new skills, particularly in foreign languages. These programs have significantly strengthened language proficiency among the younger generation, fostering greater communication and understanding. By bridging generational gaps, improved language skills contribute lo stronger intergeneralional connections, enabling more meaningful interactions within families and the broader community. The degree to which the achievements and perfomiance during the year have benefited wider society. Throughout the year, SIEA has made significant contributions lo fostering inclusivity and strengthening interfaith relationships. Ils events have provided a welcoming platform where individuals from diverse social and cultural backgrounds can come together, promoting mutual respect, understanding, and a shared sense of community- In addition. SIEA has delivered insightful presentslions during these gatherings, focusing on conslruclive ways lo challenge extremist narratives and counter ideologies that promote terrorism. By facilitating informed discussions and engagement, SIEA continues to play an essential role in encouraging dialogue, awareness, and social cohesion. 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 stales 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 lo be appointed, the SIEA would have lo file at Companies House., and is signed by the person who is to be proposed to show his or her willingness lo be appointed. Bankers Barclays Bank PLC. 201 Stratford Road, Solihull Bgo 3AT M R Mughal & Co. 253 Acesler Road South, Birmingham. B14 6DT Accountants
Solihull Islamic Education Academy Ltd. Company Registration Number- 07341503 Trustees. Annual Report for the year ended 31 August 2024 Financial review The charity s financial position at the end of the year ended 31 August 2024 The financial position of the charity al 31 August 2024 and comparatives for the prior period. as more fully detailed in the accounts, can be summarised as follows'.- 2024 2023 Net income 21,4Q1 56,090 Unrestricted Revenue Funds available for the general purposes of the charity 774,638 753,237 Total Funds 774,638 753,237 Financial review of the position at the reporting date. 31 August 2024 . 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 £774,639. The Trustees consider that these reserves provide an adequate buffer lo support the a¢tivities of the charity. Avallablllty and adequacy of assets of each of the funds The board of Itustees is satisfied that the Charitys assets in each fund are available and adequate lo fulfil its obligations in respect of each fund. Details of The Independent Examiner Mr M R Mughal Member of Chartered Certified Accounlanls 253 Al¢ester Road South Birmingharn B146DT
Solihull Islamic Education Academy Ltd. Company Registration Number- 07341503 Trustees. Annual Report for the year ended 31 August 2024 Statement of the Directors, and Trustees, Responsibilities The charity's trustees are responsible for the preparation of the 8ccounls in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstsnding the explicit requirement in the extant statutory regulations,the Charities {Accounls and Reports) Regulations 2008, to prepare the financial slalements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined lo interpret this responsibility as requiring them lo follow current best practi and prepare the accounts according lo the FRS 102 SORP (Slalement of Recommended Practice for Accounting and Reporting by Chariliesl 2015, {as amended by the Bulletin issued in February 20161, (The SORPI, In parts'cular, 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 al the end of the financial year and of the surplus or deficit of the charily. In preparing those financial statements the Board is required to lo prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practi (United Kingdom Accounting Standards and applicable law}. select suitable accounting policies and apply them consislenlly- make judgements and estimates that are reasonable and prudent., prepare the financial ststemenls on the going Concern basis unless it is inappropriate lo presume that the charity will continue in business., stale whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial stslements., The law requires that the Iruslees must not approve the accounts unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of the surplus or deficit of the charity for the year. The Trustees are also responsible for maintaining adequale accounting records which disclose with reasonable accuracy al any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them lo 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.
Solihull Islamic Education Academy Ltd. Company Registration Number- 07341503 Trustees. Annual Report for the year ended 31 August 2024 Method of preparation of accounts - Small company provisions The financial slalements are sel out on pages 10 to 21. The financial slalements have been prepared implementing the FRS 102 SORP Islatemenl of Recommended Practice for Accounting and Reporting by Chariliesl 2015, (as amended by the Bulletin issued in February 20161, (The SORPI, and in accordance with the Financial Reporting Standard 102, leffeclive 1st January 2016) These financial slalemenls have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable lo companies subject to the small companies regime. This report was approved by the board of trustees on 14 April 2025. Mr Shahzad Naeem Director and Trustee
Solihull Islamic Education Academy Lld. Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 August 2024 I resy)rt to the Trustees on my examination of the financial statements ol the charitable company on pages 10 to 21 for the year ended 31 August 2024 which hsve been prepared in accordance with the Charities Act 2011 (the Actl and with the Financial Reporting Standard 102, (effective 1st January 20161 as modified by FRS 102 SORP (Statement of Re(x)mrnended Pr8Ctice for Accounting and Reporting by Ch8ritiesl 2015, las 8mended by the Bulletin issued In February 20161. (The SORPI. published by the Charity Commission In England & Wales ICCEWI and und8r th8 historical cost convention and the accounting policies set out on page 16. Respective respon5ibilitl85 of the Truste8s and th8 Ind8p8ndent Examiner and the basis of the report As desCrid on page 6, you, the charitable company's Truste88, who ar8 also the Directors of th8 Company for th8 purrx)ses of Company law. are responsible for the pParatIOn of the financial statements In accordan with the Comp8nies Act 2006, the Charities Act 2011 and all oth8r applicable law and with United Kingdom G8nerally Accepted Accounting Pra1. appIlble to smsller entities, and for being satisfied that the fin£n¢ial stslements giv8 8 trne and fair view. The Trustees consider that the audit requirernenl of Section 144111 of the Charitie5 Act 2011 Ilhe Actl does not apply, and that there is no requirement in the memorandum and articles of the ¢harity for the ¢ondu¢ting of an audil, and that the accounts do not require an audit in accordan 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 A¢t 2006. As a COnsequenTr, the Trustees have elected that the financial statements be subject to independent exarnination. Having satisfied rnyself that the financial statements are not reouired to be audited under any lega1 provision. or otherwise, and are 81igibl8 for independent examination, it is rny r8sponsibility to'.- al examine the finanixal statements of the charity under Section 145 of the Act", bl follow the applicabl8 proc8du18s in th8 Dir8Ctions given by the Charity Comtnis5ion under section 14515llbl of the Act. Basis tsf Independent Examinerfs Statement and seope of work undertaken I rerx)rt in spect of my examination ol the charity's financial statements carri& out under $145 of the Act. In carrying out my ex8mination, I have followed all the applic8ble Directions given by the Charity Commission under secllon 14515llbl of the Ad selllng out the dulles of an Independent exatnlner In relatSon to the conduding tsf an independent examination. An independent examination includes 8 r8view of th8 8ccounting records k8Pt by the charitable company and of the acetsunting systems employed by the charitable wmpany and a comparison ol the financial sta18ments presented with th088 records. It also includes consideration of any unusual items or disclosures in the financial 5tsternents, and seeking explanations from you, as Trustees, conceming such matters. The purpose of the examination is to establish as far as possible that there have been no brea¢hes of ¢harity legislation and that. on a test basis of evidence relevant to the amounts and di5closure5 rnade, the finanal statetnents comply with the SORP. The pr(tedu$ undertaken do not provide all the evidence that would be reqUId in an audit. and inlormatitsn 5uppli8d by th8 Trust885 in Ihe cour88 of th8 examination is not subjected to audit tests or 8nquiri88 and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and wnduct of an audit 908s beyond th8 limited assurance that 8n ind8p8nd8nt 8X8mination can provid8 Consequenuy. I do not express an audit opinion on the view given by the financial statements. and In particular. I express no opinion as to wheth8r th8 financial statements give a true and fair view of th8 affairs of the charity, and my report is limited lo the matters set out in the statement below.
Solihull Islamic Education Academy Ltd. I planned and performe£l my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report l obtained written 8ssurances from the Trustees of 811 material matters. Independent Examlnerfs Stslement, Report and Oplnlon Subject to the limitations up)n the s¢ope of my work as detailed above, I have Completed my examination.. and Can confirm th8t'.- Th8 accounts of this charitabl8 company are not required to be audited under Part 16 of th8 Comp8nies Act 2006,. Thi5 is 8 r8POrt in r8spect of an examination Carried out under 145 of th8 Act and in accordanc8 th Directions given by the Charity Commission under section 14515llbl of the Act which may be applicable., and that no material matters hsve Come to my attention in connection wth the examination giving me cause to believe that in any material respect'.- accounting records were not kept in respect of the charity as qUired by Section 386 of the Companies A¢1 2006 and Section 130 of The Charities Act 2011., the financial statetnent5 do not accord with those record5', or the financi81 statetnents do not comply with the applicable requirements contsining the fo and content of a¢counts Sel out in section 396 01 the Cornpanies Act 2006 other than any requirement that the accounts give a Irue and f8irf view, which is not a rnatter considered a5 part of an independent examination., have not been prepar8d in accordance with the methods and princip18s set out in the FRS 102 SORP (statement of Recornrnended Practi for Accounting and Reporting by Charities) 2015, las arnended by the Bulletin issued in February 20161, IThe SORPI. I have no conceins and have com8 across no other rn8tters in connection wth th8 examin8tion to which attention should be drawn in this pOrt 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 29 April 2025
Solihull Islamic Education Academy Ltd. - Statement of Financial Activities for the year ended 31 August 2024 Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 August 2024, as required by the Companies Act 2006) SORP Ref Current year Unrestricted Fund8 Current year Restricted Fund8 Current ar Total Funds Pritsryear Total Funds 2024 2024 2024 2023 Income & Endowments from: Donations & Legacies Charitabl8 activiti85 Investments A1 A2 60,330 72,460 23,706 60,330 72,460 23,706 88,540 61,305 13,177 Total income 156.496 156,496 163,022 Expenditure on= Charitable activities B2 135,095 135,095 106,932 Total •xp•ndlturè 135,095 13S,095 106,932 Net Income for the year 21,401 21,401 56,090 Net Income after transfers A-B.C 21.401 21,401 56,090 Net movement in fund5 21,401 21,401 56,090 R•eoneiliation of funds=. Totsl fund$ brought forward 753,237 753,237 697,147 Total funds carried forward 774.638 774,638 753,237 The'SORP Ref indicated abov& is the classification of incorn8 s8t out in the form81 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 105ses. All the prior year tr8nsa¢tions were unrestricted items. and no fvrther analysis is required All activities derive from continuing operations Thg not9$ attached on pag9$ 16 to 21 form an integral part of thgS9 accounts. 10
Solihull Islamic Education Academy Ltd. - Statement of Financial Activities for the year ended 31 August 2024 Prlor Year Prlor Year Prlor Year Totsl Funds SORP Ref Unrestricted Funds Restricted Funds 2023 2023 2023 Ineom• from.. Donations & Legacies Charitable activities Investments A1 A2 88,540 61,305 13.177 88,540 61,305 13,177 Total income 163,022 163,022 Expendlture on: Charitable activities B2 106,932 106,932 Total exp8nditure 106.932 106,932 Net income for the year 56.090 56,090 Net Income after transfers 56,090 56.090 Net movement in funds 56.090 56,090 R•eoneiliation of funds=. Total funds brought forward 697,147 697,147 Total funds carried forward 753.237 753,237 All actlvltles derlve from contlnulng operatlons Solihull Islamic Education Academy Ltd. Resources applied in the year ended 31 August 2024 towards fixed assets for Charity use:. 2024 2023 Funds g8n8rat8d in the year as d8tail8d in th8 SOFA Resources appli8d on functlOn81 fixed 8SS8ts 21,401 56,090 Net resources avallable to fund charltable actlvltles 21,401 56,090 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 2024 Movements in revenue and capital funds for the year ended 31 August 2024 Revenue accumulated funds Unrestri¢ted Funds 2024 Restricted Total Last year Total Funds 2023 Funds 2024 Funds 2024 Accumulated funds brought fotward 753,237 753,237 697,147 Recognised gains and losses before transfers 21.401 21.401 56.090 774.638 774,638 753,237 Closing revenue funds 774.638 774,638 753,237 Summary of funds Unrestricted Restricted and Fun(Is Designatèd funds 2024 Total Last Year Fund8 Totsl Funds 2024 2024 2023 Revenug aGoumulated ftjnds 774,638 774,638 753,237 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 2024 Solihull Islamic Education Academy Ltd. Income and Expenditure Account for the year ended 31 August 2024 as required by the Companies Act 2006 2024 2023 Incom8 Income from operations 132,790 149,845 Investment income Income from investments, other than interest receivable Interest receivable 21,900 1,806 11,000 2,177 Gross ine0rn8 in the year before exe8Ptional items 156,496 163,022 Gr055 income in the year including exceptional items 156,496 163,022 Expenditure Charitable expenditure. excluding depreciation and amortisation Depreciation and amortisation Govemance costs Realised losses on disposals of social investments which are programme relatec 119,103 15,092 900 95,390 10,642 900 Total expenditure in the year 135,095 106,932 Net income before tax in the financial year 21,401 56,090 Tax on surplus on ordinary activities Net Income after tax In the flnanclal year 21,401 56,090 Retained surplus for the financial year 21,401 56,090 All activities derive from continuing operations In aeeordanee with the provisions of the Companies Aet 2006, the headings and subheadings used in the Incorne and Expenditure account have been adapted to reflect the special nature of the charitys activities. The notes attached on pages 16 to 21 form an Integral part of these accounts. 13
Sollhull Islamlc Educatlon Academy Ltd. - Balance Sheet as at 31 August 2024 SORP Note Raf 2024 2023 Flxed assets Tangible assets 10 A2 660,736 453,328 Current assets Debtors Cash at bank and in hand 11 B2 430 151,389 3,053 330,754 Totsl ¢urrent a$sets 151,819 333,807 Crèditors- amounts falling du• within one year 12 C1 137,9171 133,8981 Nèt eurront assèts 113,902 299,909 The totsl net assets of the charity 774,fj38 753,237 Thè total n•t assèts of thè charity arè fundèd by th• funds of thè charity, as follows-. Restricted funds Unrestrlcted Funds Unrestrioted Revenue Funds 15 D3 774,638 753,237 Designated Funds Total charlty funds 774,638 753,237 14
Sollhull Islamlc Educatlon Academy Ltd. - Balance Sheet as at 31 August 2024 The'SORP Ref indicated above is the classification of Balance Sheet items as set out in the formal SORP doeumènts. 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 cornpany is entitled to 8xemption from the requirement to obtain an audit under section 477 01 the Companies Act 2006. The members have not required the cornpany to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements ol the Companies Act 2006 with respect to accounting records and the preparation ol 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 aCrdance with the provisions in Part 15 of the Cornpanies Act 2006. applicable to companies subject to the small companies regime. Mr Shahzad Naeem Trustee Approved by th8 board of truste85 on 14 April 2025 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 2024 1 Accountlng poll¢les Policies rglating to thg production of the accounts. Basls of preparatlon and accountlng conventlon The accounts have been prepared on the accruals basls. under the historiGal Gost convention, and in accordance with the Financial Reporting Standard 102, leffective 1st January 20161 and'FRS 102 SORP (Statement of Recommended Practice for Accounting and ReFM)rting by Charitiesl 2015. las amended by the Bulletin issued in February 20161. IThe SORPI. published by the Charity Commission In England & Wales ICCEWI. eftective January 2016, and In accordan with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial st8tements in accordance with the FRS 102 SORP ISt8tement of Recommended Practice for Accounting and Reporting by Charities) 2015. las atnended by the Bulletin issued in February 20161. IThe SORPI, in preference lo the previous SORP, the SORP 2(M)5, which has been withdrawn, nolwithstanding the fact thal the 8xtsnt ststulory regulations, the Charities (Accounls and Reportsl RulationS 2008 refer explicidy lo the SORP 2005. This has been done to accord with current best pmctice. Going Concem The ¢haritsble activities are entirely dependent on continuing voluntary donations as well as trading revenues. As a ¢onsequen¢&, the going concern basis is dependent on the future flow of these uncertain funding SIaM$. Accordingly. the Trustees have obtained forecasts and, after reviewing the financial fO$ts for futu periods. the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate lo adopt the going ¢ontern basis in preparing the financial stalemenls. Other than these rnatter5, the Trustees are not aware of any rnalerizl uncertainites about the charity's ability to continue as a going concem. Policies relating to catggories of income and income rgcognition. Accountlng for deferred Income and Income recelved In advance Where te5 and condition5 relating to income have not been met or uncertainty exists £5 to whether the charity can tneet any terms or conditions otherwise within its control, income is nol recogni88d but is def8rr8d as a liability until it is probatAe that the terms or conditions imwsed ¢an be met. Any grant that IS Subject to performance-related conditions reiVed in advan of delivering the go5 and services required by that condition, or is subject to unmet conditions wholly outsid8 th8 control of th8 r8CiPl8nt charity, is accounted for as a liability and shown on the balancè shèÈt as deferred income. Deferred income is released to in¢orne in the reporting period in which the perfortnance-related or other conditions that limit recognition ale rnet. When income from a grant or donation has not been re¢ognised due to the ¢onditions applwng lo the gift not being whdly within the conlrd of the recipient charity, it is disclosed ss a contingent asset if reIpt of the grant or donation is probable once th088 conditions ar8 met. Where time relzted conditions are imposed or itnplied by a funder, then the incoTne is apportioned lo the time periods concemed,and, where applicable, is 8c(x>unted for as a liability and shown on the balance sheet as deferred income. hen grants are received In advan of the expenditu on the a¢tivity funded by them. bul there a no specific time related conditions, then the incorne is not deferred. Any condition that allows for the recovery by the donor of any unexpended parl of a grant does not prevent recognition of the inwme conTrrned. but a liability to any paYment is recognised when opayment becomes probable. 16
Solihull Islamic Education Academy Ltd. Notes to the Accounts for the year ended 31 August 2024 Policies relating to expenditure on good5 and Seice5 provided to the Gharity. Re¢ognition of liabilities and expenditure A lisbility, and the related expenditure, is recognised when a legal or constructive obligation exist5 as a result of a past event, and when it is more likely than not that a transfer of economic b8nefils will be required in sett18menl, and when the amount ol the obligation Can be measured or reliably eslimaled.. LiabllitSes arising from futuo funding ¢ommitment$ and ¢onstrudSve obligatitsns. including perfomiance related grants. where the tirning or the amount of the future expenditure required to settle the obligation are uncertsin, give rise to a provision in the accounts, which is reviewed 8t the accounting year end. The provision is incre8sed to reflect any increases In liabilities, and is decreased by the utilisalion ol 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. Allocatlng costs to actlvltles Direct costs that are SpecifillY related to an actiwty are allocated lo that activity. Shared direct costs and support costs ar8 apportioned b8tW88n aetiviti8S. The basis for apportiontnent, which is consistently applied, and proportionate to the circutnstances, 15 Stafllng- on the basis of time spent in connection with 8ny particular activity. Stafllng on a p8r capita basis, based on the number of of p80p18 8mploy8d within any parbular aclivily. Premises related costs- on the proportion of floor area occupi8d by a particular activity. Non spe¢lflc support ¢o$t$- on the basis of the usage of resources, in temis of time taken, ¢apa¢ity used, request made or other measures Volunteers In accordan with the SORP. and in COgnitIOn of the difficulties in placing a monetary value on the contribution from volunteers. the contribution of volunteers is not induded within the income of ihe charity. However, the trustees value th8 significant contribution made to the activit188 of the charity by unpaid volunteers and this is des¢rited m(*e fully in Note6. Policies rglating to assgts, liabilitlgs and provisions and othgr matters. Tanglble flxed assets Tangible fixed assets are MeaSud at their original cost value, or subsequent ValuatIon, or if donated, as des¢ribed above. Cost value includes all costs expended in bringing the asset into its intended working condition. Depreciation has been provided al the following rate5 in order to write off the assets to their anticipated residual value over estimated useful lives. Fre8hold pr8rniS8S 2 % straight line Debtors Debtors are tneasured at thelr recoverable amounts al the balanTr sheet dale.
Solihull Islamic Education Academy Ltd. Notes to the Accounts for the year ended 31 August 2024 Creditors and provisions Short term creditors a measured at transaction price (which is usually the Invol pricel. Loans and other financial liabilities are initially recognised at transaction Pri net of any transaction costs and subsequently rneasured at atnorti5ed cost d8termined using the effective interest method. Fund A¢¢ountlng Unrestricted funds a available for use at the discreti of the trustees in furtheran of the general objectives of the chari 2 Liability to taxation The Trustees Consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 for UK corporation tax purposes. Accordingly, the Charity 15 Potentially exempt from taxation in respect of income or capital gains received within ca18gories covered by chap18r 3 part 11 of the Corporation Tax Act 2010 or S8Ction 256 of th8 Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively on the specific chsrilable 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 dissdution of the charity there remain any asset5, after the satisfaction of all debts and liabilities, the ass8ts represented by the accufflulated fund shall be transf8rr8d to some Other charitsb18 body or bodies having sifflilar objects to the charity. 4 Slgnlflcanca of flnanelal Instruments to thè eharws posltlon The are no significant implications of such matters. 5 Net surplus before tax In the flnanclal year 2024 2023 Th8 net surplus b8for8 tax in the financial year is 5tat8d after ch8rging:. Depreciation of owned fixed assets 15,092 10,642 6 The Contribution of volunteers The charity depend5 On the sUPPOrt of its volunteers, which is much appreciated. The arrangernents 1th volunteer5 are diffi¢ull to value precisely in monetary terms and have not been recognised in the Statement of Financi81 Activities. The volunteers and the Charity accept and agree that no ¢onlra¢t of employment is Created by these arrangements. 7 Staff costs and amolumènts Salarycosts 2024 2023 Gross Salaries ex¢luding trustees and key management personnel 86.602 55.067 Total salarle$, wages and related costs 66,602 SS,067 Numbers of full time employees or full time equiwalents 2024 2023 Th8 averag8 number of total staff employed in th8 year was 12 10 Neither the trustees nor sny persons connected with thern hsve received any remuneration from the charity or any related entity, either in the current or prior year. No employees 1Ved em(Auments lexcluding pension costs) in excess of £60.000 per annum. 18
Solihull Islamic Education Academy Ltd. Notes to the Accounts for the year ended 31 August 2024 8 Remuneration and payments to Trustees and persons ¢onne¢ted with them No trust8es or p8rsons connected with them received any remuneration from the charity, or any r81ated entity. 9 Dofèrrèd Income . Unrestrlctsd and D&slgnat8d funds Openlng Deferrdls Released Recelved Deferred frorn prior years les5 released at year end In year School fees received in advance 33,252 33,252 36,705 38,705 Total 33,252 33.252 36.705 38.705 2024 2023 These deferral$ are Included In ¢redltors 36,705 33,252 The deferrals included in creditors relate to schoDI fees received in advance as re13ting to specific peri5 and represent thos8 parts which relate to periods subsequent to the accounting ye8r end and are treated as receipts in advance, or, alternatively, where there are Conditions whi¢h must be fulfilled prior to entitlement or use of the unrestri¢ted funds by the 10 Tangible fixed assets Land and Bulldlngs Plant & Ma¢hlnery Motor Vehlcles Total Cost At 1 September 2023 Additions 532.089 222.500 532.089 222.500 At 31 August 2024 754,589 754,589 Depreciation At 1 September 2023 Charge for the year 78,761 15,092 78.761 15.092 At 31 August 2024 93,853 93,853 Net book value At 31 August 2024 660,736 660,736 At 31 August 2023 453,328 453,328 11 Debtors 2024 2023 Prepayments and ac¢rued income 430 3,053 19
Solihull Islamic Education Academy Ltd. Notes to the Accounts for the year ended 31 August 2024 12 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals Deferied Income- Unrestricted & designated funds PAYE, NIC VAT and other taxes 600 36.705 612 600 33,252 37,917 33,898 13 Income and Expenditure account summary 2024 2023 At 1 September 2023 Surplus after tax for the year 753,237 21,401 697,147 56.090 At 31 August 2024 774,638 753,237 14 Partl¢ulars of how partlcular funds are represented by assets and Ilabllltles At 31 August 2024 Unrestrficted De519nated lund8 Restrlcted Total funds fund8 Fund8 Tangible Fixed Assets Current As5els Current Liabilities 660,736 151,819 137.9171 660,736 151,819 137,9171 774,638 774,638 At 1 September 2023 Unrastrl¢t•d Deslgnatod R8Strlct•d Total fun(ls fund8 Fund8 Tangible Fixed Assets Current Assets Current Liabilities 453,328 333,807 133.8981 453,328 333,807 133,8981 753,237 753,237 20
Solihull Islamic Education Academy Ltd. Notes to the Accounts for the year ended 31 August 2024 15 Change In total funds Over the year as shown In Note 14, analysed by Indlvldual funds Furbds brought Movement in torward from tunds In 2024 Funds carritd forward to Tran8f6r8 2023 2025 funds in 2024 S80 Not8 16 So0 Note O Unre$trl¢ted and deslgnated funds... Unrestricted Revenue Funds 753,237 21,401 774,638 Total unrestricted and designated funds 753,237 21.401 774,638 Total charity fund5 753,237 21,401 774,638 16 Analysis of movements in funds over the year as shown in Note 15 Other Gain$ & L0558S Income Expendlture Movement in fund5 2024 2024 2024 2024 Unrestricted and design8ted funds... Unrestricted Revenue Funds 156,496 1135,0951 21,401 17 The purposes for which the funds as detailed in note 15 are held by the charity are'.- Unre5trictsd anddesignat8d funds... These funds are held for the meeting the obje¢b"ves of the ¢harily, and lo provide reserrfes for future actiwties. and , Subject to charity legislation. are free from all restrictions on their us8. Unrestricted Revenue Funds R$stri¢t•d fvnds... 18 Ultimate controlling party The charity is under the conlrd of its legal tnernLErs. Every member of the charity 15 obliged lo contribute such amount as tnay be required not exceeding £10 to the assets of the comp8ny in the event of its being wound up while he or She 15 8 member, or within one ye8r after he or she ceases lo be a member. 21
Solihull Islamic Education Academy Ltd. Detailed analysis of income and expondilure for lh9 year gnded 31 August 2024 as rgquired by the SORP 2015 This analysis is Classsified by conventional nominal descriptions and not by activity. 19 Donatlons and Legacles Current year Unrestricted Funds Current year Restricted Funds Current year Total Fund5 Prioryear Total Funds 2024 2024 2024 2023 Donatlons and glfts from Indlvlduals Donation5 and gift5 frotn individuals Gift aid donation claitns 60,330 60,330 70,366 18,174 Total donations and gifts frorn individuals 60,330 60,330 Revenue grants from government and publ1¢ bodles Coronavirus Job R8t8ntion Scheme To¢al publi¢ SeOr revenue grants Revenue grants and donatlons from non publlc bodles Donations from non public bodies Total prlvate sector revenue grants Total Donations and Legacies A1 60.330 60.330 88.540 20 Income from charitable a¢tivilie$ - Trading Activities Current year Unrestricted Funds Current year Restricted Funds Current year Total Funds Prloryear Total Funds 2024 2024 2024 2023 Primary purpose and ancillary trading School f8es 72,460 72.460 61,305 Total Primary purpose and ancillary trading 72.460 72.460 61,305 22
Solihull Islamic Education Academy Ltd. Detailed analysis of income and expondilure for lh9 year gnded 31 August 2024 as rgquired by the SORP 2015 21 Total Income from charltable a¢tlvltle$ CLrrrent year Unr8Strlcted Funds Current year Restrfj¢t8d Funds Current year Total Fund5 Prioryear Total Funds 2024 2024 2024 2023 Total income from charitable trading 72,460 72,460 61.305 Total from charftable actlvltles 72,460 72.460 61,30S 22 Investment income Curtent ar Unrestrlcted Funds 2024 Current year Restrlcted Fund$ 2024 CunÈnt ar Total Funds Prioryear Total Funds 2024 2023 Property Rental Income Bank Interest Receivable 21,900 1.806 21,900 1,806 11,000 2.177 Total investment income 23.706 23.706 13,177 23 Expenditure on charitable activities . Direct spending Current year Unrestrirted Funds Current year Restricted Funds Current yéar Total Fund8 Prloryear Total Funds 2024 2024 2024 2023 Gross wages and salaries charitable activities 66,602 66,602 55,067 Total direct spending 66,602 66,602 55,067 24 Expenditure on charitable activities Charitable trading Current year unrestrictèa Funds Current year OSTfi¢T8Q Funds Current year Total Fund5 PrlorYeaT Total Funds 2024 2024 2024 2023 Cost of charitable lelling of none investment property Reallocated from support costs 25,108 25.108 19,107 42,485 42.485 31,858 Total charitab18 trading costs B2b 67.593 67.593 50,965 23
Solihull Islamic Education Academy Ltd. Detailed analysis of income and expondilure for lh9 year gnded 31 August 2024 as rgquired by the SORP 2015 25 Support costs for Charilable a¢livitlOS Current year Unrestricted Funds Current year Restricted Fund6 Current ytar Yotal Funds Prlor Yaar Total Funds 2024 2024 2024 2023 Prgmises Expensgs Rates and water charges Light heat and power Premises repairs, renewals and maintenance Property insurance 3,260 4,411 2,319 3,338 3,260 4.411 2,319 3.338 2,592 2,930 5,221 1,860 Administrative overheads Telephone, fax and internel Stationery and printing Sundry expenses 6S6 319 7.244 686 319 7.244 641 434 5.897 Profgssional fges paid to advisors other than the auditor or gxamingr Other legal and professional 5,070 5,070 1,051 Flnanclal Costs Bank charges Depreciation & Amortisalion in lolal for the 746 15,092 746 15,092 590 10,642 Support costs before reallocation 42,485 42,485 31,858 Less support costs reallocated to specifi¢ activities To charitable trading costs 142,4851 142.4851 131,8581 The basis of allocation of costs tseeen activities is described under accounting policies 26 Other Expendlture - Governance costs Current year unrestrictèd Funds Current year Rtr$tn¢te Funds Current year Total Fund5 Prioryear Total Funds 2024 2024 2024 2023 Independent Examiner's fees )0 900 900 To¢al Governance ¢ost$ 900 900 900 24
Solihull Islamic Education Academy Ltd. Detailed analysis of income and expondilure for lh9 year gnded 31 August 2024 as rgquired by the SORP 2015 27 Total Charitsble gxpgnditurg Current year Unrestricted Funds Current year Restricted Funds Current ytar Yotal Funds Prlor Yaar Total Funds 2024 2024 2024 2023 Total direct spending Total charitable trading costs Total Governance costs B2a 66,602 66.602 55,067 B2b 82e 67,593 900 67.593 900 50,965 900 Total charftable expendlture B2 13S,095 135.095 106,932 25