TAWAKKULIA FOUNDATION UK
Trustees’ report and Financial statements
For the year ended 31 December 2021
Registered charity no: 1143172
CONTENT
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Structure: Governance and Management | 2 |
| Independent Examiner’s Report to the | |
| Board of Trustees of Tawakkulia Foundation UK | 4 |
| Statement of Financial Activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
LEGAL AND ADMINISTRATIVE INFORMATION
Status
STANDARD CHARITY REGISTARTION WITH CHARITY COMMISSION OF ENGLAND AND WALES
Charity Registration Number: 1143172
Registration Date: 29 July 2011
Trustees
Rahsid Ahmed Numan Bahaul Islam Md Abdul Kuddus Wahiduzzaman Iqbal Fuzel Syed Ahmed
Registered Office
1, 3 Fieldgate Street London E1 1JU
Charity Address
1, 3 Fieldgate Street London E1 1JU
Banker
HSBC Bank Lloyds Bank
Independent Examiner
Alamgir Hossain, ACCA 64 Gale Street Dagenham, RM9 4PA
Page 1 of 9
STRUCTURE: GOVERNANCE AND MANAGEMENT
Governing Document
Tawakkulia Foundation UK is established as a charitable organization with the Charity’s Commission and is governed by a Trust Deed on.
The organization received its charity status from the Charity Commission on the 29[th] July 2011.
different racial groups and advancing education and raising awareness about different racial groups to promote good relations between persons of different racial groups, in particular but not exclusively amongst students and younger generations.
Public Benefit
The charity is quite small in terms of Income and Expense and currently the organization has 5 trustee who manage and who manage and run the day to day stuff of the charity and there are no employees
The trustees ensure to the best of their ability to ensure proper due diligence is carried out, end use of fund and value for money in implementing projects.
Our Aims and Objectives
The trustees shall hold the trust fund and its income upon trust to apply it for the following objects for the public benefit:-
I) to advance education, in particular but not exclusively in the Sylhet division of north east Bangladesh;
ii) to relieve the charitable needs of orphans, widows and victims of natural disasters in Bangladesh;
iii) to relieve financial hardship, in particular but not exclusively by supporting children in Bangladesh to free them from child labor by providing financial support to them and their families; and
The Trustees confirm that they have considered the general guideline issued by the Charity Commission in connection with Public Benefit in setting the objectives of the Charity and in particular they have considered hold planned activities further the Charity's objects.
Achievements and Performance
EDUCATION PROJECT:
The trust was setup to mainly support the educational project of mainly poor and needy students of Jamia Tawakkulia Renga, Moglabazar Area of Sylhet, Bangladesh.
In 2021 £33,389 was spent to support the Educational Project of around 1,500 poor and needy students from many different areas and 3 x meal provided to around 500 mainly poor and needy boarding students .
FOODPACK FOR POOR FAMILIES
£4,786 was spent to distribute Ramadan Food pack to around 450 poor families from many different villages consisting essential items such as Rice, Cooking Oil, Onion, Lentil, chick Peas, Salt etc
iv) to the promotion of racial harmony for the public benefit by promoting knowledge and mutual understanding between
Page 2 of 9
Risk Management
The Trustees identify any risks to which the Charity might be exposed, including risks to the Charity's financial position, and reputation. Once these are reviewed, systems will be established to address these risks. The Trustees, will going forward, review risk management on a regular basis.
Future Plan
Our fundraising and funding structure is very similar every year with nothing significant to report and we will carry on with our main focus on Education project for poor and needy students.
Trustees Responsibilities in relation to the Financial Statements
Company law requires the trustees to prepare Financial Statements which give a true and fair view of the state of affairs of the Charity's at the end of the financial year and of its surplus or deficit for the financial period. In doing so the trustees are required to;
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Select suitable accounting policies and apply consistently;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standard have been followed, subject to any material departure disclosed and explained in the financial statements; and
inappropriate to presume that the charity will continue to operate. We have budget in operation for the next year and hope to achieve expected target.
The trustees are responsible to maintain proper accounting records which disclose with reasonable accuracy at any time, the financial position of the Charity and to enable them to ensure that the financial statement comply with the companies act 2006. The trustees are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection or fraud and other irregularities.
These Accounts have been delivered in accordance with the provisions applicable to charities.
Approved by Trustees on Behalf of the Board.
Rashid Ahmed Numan Treasurer Date: 17.10.2022
Wahiduzzaman Iqbal Secretary Date: 17.10.2022
- Prepare the financial statements are on a going concern basis unless it is
Page 3 of 9
INDEPENDENT EXAMINER’S REPORT TO THE BOARD OF TRUSTEES OF TAWAKKULIA FOUNDATION UK
I report on the accounts of the Tawakkulia Foundation UK for the year ended 31[st] December 2021, which are set out on pages 7 to 9.
Respective responsibilities of Trustees and Examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(1) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with Section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
Have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Basis of independent examiner’s report
My examination was carried out in accordance with general Directions given by the Charity Commission.
- This report is prepared for the internal use of Tawakkulia Foundation UK only. No responsibility is assumed to any other person.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the
Alamgir Hossain, ACCA Charity Finance and Accounting London
Date: 17.10.2022
Page 4 of 9
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2021
| Unrestricted Funds Notes £ INCOME Voluntary income: Donations 2 19,702 TOTAL INCOME 19,702 EXPENDITURE Costs of raising funds: Fundraising cost 264 Expenditure on charitable activities: Ramadan Food Parcel - Education Project - TOTAL EXPENDITURE 3 264 Net income/(expenditure) and net movement in funds for the year 19,438 Reconciliation of funds: Transfers between funds 4 (4,786) Total Funds brought forward 4 15,744 Total funds carried forward 30,396 |
Restricted Funds £ 40,488 40,488 - 4,786 33,389 38,175 2,313 4,786 - 7,099 |
Total 2021 £ 60,190 |
Total 2020 £ 37,840 |
|---|---|---|---|
| 60,190 | 37,840 | ||
| 264 4,786 33,389 |
- 5,847 26,346 |
||
| 38,439 | 32,193 | ||
| 21,751 - 15,744 |
5,647 - 10,097 |
||
| 37,495 | 15,744 |
The results for the year shown above all derive from continuing operations.
All recognised gains and losses are reflected in the Statement of Financial Activities and therefore no separate statement of total recognised gains and losses has been presented.
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 5 of 9
BALANCE SHEET As at 31 December 2021
| Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets The funds of the charity: Unrestricted income funds - General fund 4 Restricted income funds 4 Total charity funds |
2021 £ - - - 37,495 37,495 - 37,495 - 37,495 30,396 7,099 37,495 |
2020 £ - |
|---|---|---|
| - - 15,744 |
||
| 15,744 - |
||
| 15,744 - |
||
| 15,744 | ||
| 15,744 - |
||
| 15,744 |
The financial statements were approved by the Trustees on: 17.10.2022 and signed on its behalf by:
| Rashid Ahmed Numan | Wahiduzzaman Iqbal |
|---|---|
| Treasurer | Secretary |
The accompanying notes on pages 7 to 9 form an integral part of these Financial Statements
Page 6 of 9
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021
1 Accounting policies
a) Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The accounting policies below have been adopted for material items.
b) Incoming resources
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when Tawakkulia Foundation UK is entitled to the receipt and the amount can be measured with reasonable certainty. Gifts in Kind for which Tawakkulia Foundation UK accepts full responsibility for distribution are included in income at their market value when it is distributed and under Charitable Activities at the same value and time. The value of services provided by volunteers has not been included.
Grants, including grants for the purchase of fixed assets, are recognized in full in the Statement of Financial Activities in the year in which they are receivable.
c) Resources expended Resources expended are recognized in the year in which they are incurred.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
d) Tangible fixed assets and depreciation Non-programme expenditure of more than £50 per item for buildings, equipment and leasehold improvements is capitalised at cost. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
| Leasehold properties Freehold properties Computers and software Fixtures and fittings Office equipment Motor vehicles |
Straight line over the life of the lease 5% straight line 25% straight line 15% straight line 15% straight line 15% straight line |
|---|---|
e) Funds
General funds are unrestricted funds which are necessary for the proper functioning of the charity and other funds available for use at the discretion of the trustees in furtherance of the charity’s objectives.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
Restricted funds are funds which are subject to specific restrictions as imposed by the donor or nature of the appeal.
f) Taxation As a registered charity, Tawakkulia Foundation UK is exempt from taxation of income and gains to the extent these are applied to charitable objectives.
Page 7 of 9
| Unrestricted Funds 2 Donations £ General Donation 17,027 Gift Aid 2,675 19,702 |
Restricted Funds £ 40,488 - 40,488 |
Total 2021 £ 57,515 2,675 60,190 |
Total 2020 £ 31,514 6,326 |
|---|---|---|---|
| 37,840 |
| 3 | Analysis of expenditure on | charitable activities | 2021 | 2020 | ||
|---|---|---|---|---|---|---|
| Direct | Staff | Support | Total | Total | ||
| costs | costs | costs | costs | costs | ||
| £ | £ | £ | £ | £ | ||
| Cost of generating funds | 262 | - | 2 | 264 | - | |
| Charitable activities | ||||||
| Ramadan Food Parcel | 4,749 | - | 37 | 4,786 | 5,847 | |
| Education Project | 33,128 | - | 261 | 33,389 | 26,346 | |
| Total Charitable activities | 37,877 | - | 298 | 38,175 | 32,193 | |
| Total expenditure | 38,139 | - | 300 | 38,439 | 32,193 |
3.1 Analysis of governance and support costs
| Governance cost Legal & Other Professional Fees Support costs Rent Office Expenses |
2021 £ 300 300 - - - 300 |
2020 £ 300 |
|---|---|---|
| 300 - - |
||
| - | ||
| 300 |
Page 8 of 9
| 3.2 Staff cost and number of employees The average monthly numbers of employees in the UK during the year were: Permanent Temporary Volunteer (head count) Employment costs Gross Pay Employer's national insurance |
2021 Number - - - 2021 £ - - - |
2020 Number - - - |
|---|---|---|
| 2020 £ - - |
||
| - |
No employee earned more than £60,000 during the year (2020: None).
4 Movement of funds
| Movement of funds | |||||
|---|---|---|---|---|---|
| As at | Incoming | Resources | As at | ||
| 01 Jan 2021 | Resources | Expended | Transfers | 31 Dec 2021 | |
| Rstricted funds | £ | £ | £ | £ | £ |
| Ramadan Food Parcel | - | - | (4,786) | 4,786 | - |
| Education Project | - | 40,488 | (33,389) | 7,099 | |
| Total restricted funds | - | 40,488 | (38,175) | 4,786 | 7,099 |
| Unrestricted funds | |||||
| General fund | 15,744 | 19,702 | (264) | (4,786) | 30,396 |
| Total unrestricted funds | 15,744 | 19,702 | (264) | (4,786) | 30,396 |
| TOTAL | 15,744 | 60,190 | (38,439) | - | 37,495 |
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