Registered number 07376162
Charity number 1140216
FOUNDATIONS FOR PEOPLE (Company limited by guarantee)
Report and Accounts
31 March 2021
## **FOUNDATIONS FOR PEOPLE Report and accounts Contents**
||**Page**|
|---|---|
|Directors' report|1|
|Accountants' report|2|
|Profit and loss account|3|
|Balance sheet|4|
|Notes to the accounts|5|
**FOUNDATIONS FOR PEOPLE Registered number: 07376162 Directors' Report**
The directors present their report and accounts for the year ended 31 March 2021.
## **Principal activities**
The company's principal activity during the year continued to be an Islamic Education Charity and a place of Worship for the local community.
## **Directors**
The following persons served as directors during the year:
Mr B M Bostan (Trustee) Mr R Ali (Trustee) Mr M Mohammed (Trustee)
## **Small company provisions**
This report has 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 on 30 December 2021 and signed on its behalf.
Mr Bashart M Bostan, Mr Rehan Ali and Mr Mahroof Mohammed Directors/ trustees
1
## **FOUNDATIONS FOR PEOPLE**
## **Report to the directors on the preparation of the unaudited statutory accounts of FOUNDATIONS FOR PEOPLE for the year ended 31 March 2021**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FOUNDATIONS FOR PEOPLE for the year ended 31 March 2021 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of FOUNDATIONS FOR PEOPLE, as a body, in accordance with the terms of our engagement letter dated 14 April 2018. Our work has been undertaken solely to prepare for your approval the accounts of FOUNDATIONS FOR PEOPLE and state those matters that we have agreed to state to the Board of Directors of FOUNDATIONS FOR PEOPLE, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FOUNDATIONS FOR PEOPLE and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FOUNDATIONS FOR PEOPLE has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FOUNDATIONS FOR PEOPLE. You consider that FOUNDATIONS FOR PEOPLE is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of FOUNDATIONS FOR PEOPLE. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Adam & Co Accountancy Ltd Chartered Certified Accountants First Floor 1 Edmund Street Bradford West Yorkshire BD5 0BH
30 December 2021
2
## **FOUNDATIONS FOR PEOPLE Income and expenditure account for the year ended 31 March 2021**
|**Notes**
**Income**
1
Cost of generating income
**Gross profit**
Administrative expenses
**Operating surplus**
**Surplus for the financial year**|**2021**
**£**
203,115
(95,665)
107,450
(79,718)
27,732
27,732|**2020**
**£**
482,991
(372,210)|
|---|---|---|
|||110,781
(102,882)|
|||7,899|
|||7,899|
3
## **FOUNDATIONS FOR PEOPLE Registered number:** 07376162 **Balance Sheet as at 31 March 2021**
|**Notes**
**Fixed assets**
Tangible assets
3
**Current assets**
Stocks
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
6
**Net current assets**
Total assets less current liabilities
**Creditors: amounts falling due**
**after more than one year**
7
**Net assets**
**Capital and reserves**
Called up share capital
(guarantees)
Reserves accumulated
8
**Net reserves**|**2021**
**£**
464,543
52,415
113,703
166,118
(5,420)
160,698
625,241
(26,374)
598,867
30
598,837
598,867
-|**2020**
**£**
464,543
52,415
95,972
148,387
(5,420)
142,967
607,510
(36,374)
571,136
30
571,106
571,136
-|**2020**
**£**
464,543
52,415
95,972
148,387
(5,420)
142,967
607,510
(36,374)
571,136
30
571,106
571,136
-|
|---|---|---|---|
|||||
||||607,510
(36,374)|
||||571,136|
||||30
571,106|
||||571,136|
||||-|
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 accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Bashart M Bostan, Mr Rehan Ali and Mr Mahroof Mohammed Director/ Trustee
Approved by the board on 30 December 2021
4
**FOUNDATIONS FOR PEOPLE Notes to the Accounts for the year ended 31 March 2021**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
## _**Turnover (Income)**_
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
## _**Unrestricted funds**_
Unrestricted funds are the net incoming resources available for the objects of the charity without specified purposes and are part of the general funds.
## _**Restricted funds**_
Restricted funds are the net incoming resources avaiable for a particular area or purpose stated by the donor and are allocated appropriately.
## _**Depreciation**_
_Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives._
Freehold/ (leasehold) land and buildings 0% straight line because the director's believe that the market value is greater than cost Fixtures, fittings, tools and equipment shown as equipment expensed
## _**Stocks**_
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
## _**Creditors**_
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.
## _**Foreign currency translation**_
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
**2 Employees**
**2021**
**2020**
5
## **FOUNDATIONS FOR PEOPLE Notes to the Accounts for the year ended 31 March 2021**
|Average number of persons employed by the company
There were no employees receiving more than £30,000 per annum
**3**
**Tangible fixed assets**
**Land and**
**buildings**
**Plant and**
**machinery**
**etc**
**£**
**£**
**Cost**
At 1 April 2020
464,543
-
At 31 March 2021
464,543
-
**Depreciation**
At 31 March 2021
-
-
**Net book value**
At 31 March 2021
464,543
-
At 31 March 2020
464,543
-|**Number**
8
**Motor**
**vehicles**
**£**
-
-
-
-
-|**Number**
8|
|---|---|---|
|||**Total**
**£**
464,543|
|||464,543|
||||
|||-|
|||464,543|
|||464,543|
Land and buildings are not being depreciated because the directors believe market value is greater than the cost.
|**4**
**Creditors: amounts falling due within one year**
Other creditors
**5**
**Creditors: amounts falling due after one year**
Loans
**6**
**Reserves**
Restricted
**£**
At 1 April 2020
-
Surplus for the financial year
-
At 31 March 2021
-|Unrestricted
**£**
571,106
27,732
598,838|**2021**
**£**
5,420
**2021**
**£**
26,374
**2021**
**£**
571,106
27,732
598,838|**2020**
**£**
5,420|
|---|---|---|---|
||||**2020**
**£**
36,374|
||||**2020**
**£**
563,207
7,899|
||||571,106|
Please see detailed income and expenditure statement for restricted and unrestricted income and expenditure analysis.
## **7 Controlling party and related parties**
The directors/ trustees have control of the company/charity. There were no related parties except that the charity owns 100% of Al Baseerah Travel Limited
6
**FOUNDATIONS FOR PEOPLE Notes to the Accounts for the year ended 31 March 2021**
## **8 Other information**
FOUNDATIONS FOR PEOPLE is a private company limited by guarantee and incorporated in England. Its registered office is:
3 Paternoster Lane, Bradford, West
The company uses the following trading names: Masjid As-Sunnah Albaseerah Salafi Bookstore Albaseerah Travel Down to Earth Educating Muslims
## **11 Going concern**
The company has sufficient cash at bank and has raised further funds since the year end, which provide adequate resources to finance committed development programme, along with the day to day operations. The trustees monitor the expenditure level and adjust development expenditure to ensure that expenditure is only incurred when sufficient funds are available to cover payments as they fall due. On this basis, the trustees have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of twelve months after the date on which this report and financial statements are signed. For this reason, it continues to adopt the going concern basis in the financial statements.
## **12 Winding up or dissolution of the company/charity**
If the charity were to be dissolved or wound up the trustees would pass any net assets to similar organisations and deserving causes.
7
## **FOUNDATIONS FOR PEOPLE Detailed income and expenditure account for the year ended 31 March 2021**
_This schedule does not form part of the statutory accounts_
|**Income**
Al Baseerah Travel (subsidiary)
Educating Muslims and Albaseerah Quran School
M A Sunnah -Donations and other income
Salafi Book Store and AQS
Government Grants
**Less:**
**Cost of generating income**
Purchases (goods, tickets and books etc)
Increase in stocks
Donations to other charities
**Less:**
**Administrative expenses**
Employee costs:
Wages and salaries
Staff training and welfare
Premises costs:
Rent
Rates and water
Light and heat
Cleaning and service charges
General administrative expenses:
Telephone and fax
Stationery and printing
Bank charges
Insurance
Equipment hired and expensed
Repairs and maintenance
Sundry expenses
Legal and professional costs:
Accountancy fees
Advertising and PR
Total administrative expenses
**Surplus for the financial year**|Restricted
Unrestricted
Total
2021
2021
**2021**
**£**
**£**
**£**
-
3,400
**3,400**
-
29,208
**29,208**
11,498
35,092
**46,590**
-
73,688
**73,688**
-
50,229
**50,229**
11,498
191,617
**203,115**
-
57,222
**57,222**
-
-
**-**
16,994
21,449
**38,443**
16,994
78,671
**95,665**
-
62,538
**62,538**
-
-
**-**
-
62,538
**62,538**
-
-
**-**
-
92
**92**
-
8,195
**8,195**
-
377
**377**
-
8,664
**8,664**
-
895
**895**
-
1,908
**1,908**
-
1,456
**1,456**
-
1,005
**1,005**
-
236
**236**
-
911
**911**
-
-
**-**
-
6,411
**6,411**
-
2,105
**2,105**
-
-
**-**
-
2,105
**2,105**
-
79,718
**79,718**
(5,496)
33,228
**27,732**|Total
**2020**
**£**
267,930
22,743
54,811
137,508
-|
|---|---|---|
|||482,991
361,652
(15,865)
26,423|
|||372,210|
|||67,514
60|
|||67,574|
|||10,590
3,311
9,623
652|
|||24,176|
|||717
2,110
2,481
1,005
52
2,346
233|
|||8,944|
|||1,931
257|
|||2,188|
||||
|||102,882|
||||
|||7,899|
8