Registered number 07376162
Charity number 1140216
FOUNDATIONS FOR PEOPLE (Company limited by guarantee)
Report and Accounts
31 March 2022
## **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 2022.
## **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 2022 and signed on its behalf.
Mr Bashart M Bostan, Mr Rehan Ali and Mr Mahroof Mohammed Directors/ trustees
1
## **FOUNDATIONS FOR PEOPLE Accountants' Report**
## **Accountants' report to the directors of FOUNDATIONS FOR PEOPLE**
You consider that the company is exempt from an audit for the year ended 31 March 2022. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Adam & Co Accountancy Ltd Chartered Certified Accountants
First Floor 1 Edmund Street Bradford West Yorkshire BD5 0BH
30 December 2022
2
## **FOUNDATIONS FOR PEOPLE Income and expenditure account for the year ended 31 March 2022**
|**Notes**
**Income**
1
Cost of generating income
**Gross profit**
Administrative expenses
**Operating surplus**
**Surplus for the financial year**|**2022**
**£**
210,144
(122,615)
87,529
(92,839)
(5,310)
(5,310)|**2021**
**£**
203,115
(95,665)
107,450
(79,718)
27,732
27,732|
|---|---|---|
3
|**FOUNDATIONS FOR PEOPLE**
**Registered number:**
**Balance Sheet**
**as at 31 March 2022**
**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**|07376162
**2022**
**£**
464,543
52,415
107,599
160,014
(4,749)
155,265
619,808
(26,250)
593,558
30
593,528
593,558
-|**2021**
**£**
464,543
52,415
113,704
166,119
(5,420)
160,699
625,242
(26,374)
598,868
30
598,838
598,868
-|
|---|---|---|
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 2022
4
**FOUNDATIONS FOR PEOPLE Notes to the Accounts for the year ended 31 March 2022**
## **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.
5
## **FOUNDATIONS FOR PEOPLE Notes to the Accounts**
**for the year ended 31 March 2022**
|**2**
**Employees**
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 2021
464,543
-
At 31 March 2022
464,543
-
**Depreciation**
At 31 March 2022
-
-
**Net book value**
At 31 March 2022
464,543
-
At 31 March 2021
464,543
-|**2022**
**Number**
6
**Motor**
**vehicles**
**£**
-
-
-
-
-|**2021**
**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 2021
-
Surplus for the financial year
-
At 31 March 2022
-|Unrestricted
**£**
598,838
(5,310)
593,528|**2022**
**£**
4,749
**2022**
**£**
26,250
**2022**
**£**
598,838
(5,310)
593,528|**2021**
**£**
5,420
**2021**
**£**
26,374
**2021**
**£**
571,106
27,732
598,838|
|---|---|---|---|
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 2022**
## **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, Wes
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 2022**
_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)
Donations to other charities
**Less:**
**Administrative expenses**
Employee costs:
Wages and salaries
Staff training and welfare
Premises costs:
Rates and water
Light and heat
Cleaning and service charges
General administrative expenses:
Telephone and fax
Stationery and printing
Bank and card machine charges
Insurance
Equipment hired and expensed
Repairs and maintenance
Legal and professional costs:
Accountancy fees
Solicitors fees/ other legal
Advertising and PR
Total administrative expenses
**Surplus for the financial year**|Restricted
Unrestricted
Total
2022
2022
**2022**
**£**
**£**
**£**
-
-
**-**
-
35,685
**35,685**
17,430
57,254
**74,684**
-
97,108
**97,108**
2,667
-
**2,667**
20,097
190,047
**210,144**
-
75,511
**75,511**
23,942
21,968
**47,104**
23,942
97,479
**122,615**
-
71,100
**71,100**
-
131
**131**
-
71,231
**71,231**
-
1,593
**1,593**
-
10,156
**10,156**
-
-
**-**
-
11,749
**11,749**
-
794
**794**
-
1,748
**1,748**
-
2,807
**2,807**
-
1,040
**1,040**
-
-
**-**
-
2,097
**2,097**
-
8,486
**8,486**
-
1,345
**1,345**
-
13
**13**
-
15
**15**
-
1,373
**1,373**
-
92,839
**92,839**
(3,845)
(271)
**(5,310)**|Total
**2021**
**£**
3,400
29,208
46,590
73,688
50,229
203,115
57,222
38,443
95,665
62,538
-
62,538
92
8,195
377
8,664
895
1,908
1,456
1,005
236
911
6,411
2,105
-
-
2,105
79,718
27,732|
|---|---|---|
8