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2021-03-31-accounts

Hafs Academy Limited

Company limited by guarantee no. 07305161 Registered charity no. 1145330

ACCOUNTS

For the year ended 31 March 2021

INDEPENDENT EXAMINER: SHARIQ ABDULLAH CA ABDULLAH AND ABDULLAH CHARTERED ACCOUNTANTS

HAFS ACACEMY LIMITED

(Company limited by guarantee no. 07305161, registered charity no. 1145330)

Annual Report and Financial Statements for the year ended 31-Mar-2021

CONTENTS

Page
Legal and adminstrative information 1
Trustees' report 2 - 4
Independent Examiner's report 5
Income and Expenditure Account 6
Balance Sheet 7
Notes to the financial statements 8 - 10

HAFS ACACEMY LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY for the year ended 31-Mar-2021

Trustees Muhammad Mujeeb Rahman
Muhammad Najmul Alam
Directors Muhammad Najmul Alam
Muhammad Mujeeb Rahman
Company reg. no. 07305161
Charity reg. no. 1145330
Registered office 26 Maryland Road
Stratford
London
E15 1JW
Independent Examiner Shariq Abdullah CA
Abdullah and Abdullah
Chartered Accountants
Bankers Barclays Bank Plc
1 Churchill
Place
London
E14 5HP

1

Trustees’ annual report (including Directors’ report) for the period

From: 1/4/2020

To: 31/3/2021

Charity name: HAFS ACADEMY TRUST

Charity registration number: 1145330

Company number: 07305161

Objectives and activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 “Mission statement is "to empower and enable
the community in London and the surrounding
areas to achieve excellence in their duties and
advancement in educational, social, and religious
affairs”
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.		 Para 1.17 and
1.19		 To advance the education of children and adults
by the provision of formal and informal
educations.
To promote religious harmony of differing
background and traditions.
The relief of financial hardship, sickness and
distress
To provide or assist in the provision of facilities
for recreation and other leisure time occupation,
particularly for young people, in the interests of
social welfare.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 YES

Achievements and performance

Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 During the period the Charity was involved in the
activities listed below in pursuit of these objects.
Day Time School
We are running this project with great
enthusiasm and received a very good
response, we currently have 65 students from
age 11 to 16

Financial review

Financial review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 Our current year annual income is
£310,000 which is mainly generated by fees
received from students. Expenditure for the
year is £337,000 which is mainly driven by
teaching costs.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 No reserves
Amount of reserves held Para 1.22 N/A
Reasons for holding zero
reserves		 Para 1.22 We continue to invest in the growth of our
charity.
Details of fund materially in
deficit		 Para 1.24 No Deficit
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 No uncertainties

Structure, governance and management

Description of charity’s
trusts:		 The Charity was registered with the Charity
Commission
on
9 January
2012,
with
registered charitynumber 1145330.
Type of governing document:
for example, trust deed,
memorandum and articles of
association etc		 Para 1.25 Hafs Academy is a company limited by
guarantee registered at UK Companies House
(07305161). The governing document of the
Charity is the Memorandum and Articles of
Association.
How is the charity
constituted?
for example limited company,
unincorporated association,
CIO		 Para 1.25 A group of more than 100 influential cultural
and political leaders have joined the
Committee of Supporters for Hafs Academy
Trust to support the cause morally and
financially.
At the end of the period the following were
trustees of the Charity: Muhammad
Najmul AlamandMuhammad
Mujeeb Rahman .
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 New trustees are identified from a number of
sources. Prospective trustees are briefed on
the nature and work of the organisation,
invited to meet the Board, and if the Board
approves, are appointed at the next board
meeting.

Reference and administrative details

Charity name HAFS ACADEMY
Other name the charity uses
Registered charity number 1145330
Charity’s principal address 26 MARYLAND ROAD, STRATFORD LONDON E15 1JW

Names of the charity trustees who manage the charity

1
2		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
MR MUHAMMAD
MUJEEB RAHMAN		 Director
MR MUHAMMAD
NAJMUL ALAM		 Director

– Corporate trustees names of the directors at the date the report was approved

Director name
DIRECTOR 1 MUHAMMAD NAJMUL ALAM
DIRECTOR 2 MUHAMMAD MUJEEB RAHMAN

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
N/A N/A

Funds held as custodian trustees on behalf of others

Description of the assets
held in this capacity		 N/A
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 N/A
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 N/A

Declarations

The company has taken advantage of the small companies’ exemption in preparing the report above.

The trustees declare that they have approved the trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/directors

Signature(s) Full name(s) Muhammad Najmul Alam Position (for example Chair Secretary, Chair, etc) Date 20th December 2021

Independent examiner’s report to the trustees of HAFS ACADEMY LIMITED

I report on the accounts of the company for the year ended 31 March 2021, which are set out on pages 6 to 10.

Respective responsibilities of Trustees and Independent Examiner

The trustees and the directors of HAFS ACADEMY LIMITED are responsible for the preparation of the accounts (for the purposes of company law). The trustees and the directors consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants of Scotland.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 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 next statement.

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which gives me reasonable cause to believe that in, any material respect:

I 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 accounts to be reached.

Shariq Abdullah CA Institute of Chartered Accountants of Scotland Abdullah and Abdullah Chartered Accountants 6 Medway Drive, Perivale, UB6 8LN Date: 20[th] December 2021

5

HAFS ACADEMY LTD

Income and Expenditure Account for the year ended 31-Mar-2021

Note
Sales
9
Cost of Sales
10
Gross Profit
Administrative Expenses
11
Operating profit / (loss)
Interest payable
Profit/(loss) on ordinary activities before taxation
Tax on profit on ordinary activities
Profit/(loss) for the financial year		 2021
£
310,225
(226,241)
83,984
(111,223)
(27,239)
-
(27,239)
-
(27,239)		 2020
£
341,119
(219,843)
121,276
(109,092)
12,184
-
12,184
-
12,184

HAFS ACADEMY LTD Balance Sheet as at 31-Mar-2021

Notes
Fixed Assets
Tangible Assets
4
Current Assets
Cash at bank and in hand
Deposits and Other Receivables
5
Creditors: amounts falling due within one year
6
Total assets less current liabilities
Creditors: amounts falling due after more than one
year
7
Net Liabilities
Capital and reserves
Profit and loss account
8
Shareholders' funds		 2021
£
4,947
12,020
105,907
(13,928)
108,945
(169,136)
(60,190)
(60,190)
(60,190)		 2020
£
6,183
1,657
118,948
(27,122)
99,668
(132,619)
(32,951)
(32,951)
(32,951)

The trustees and the directors are satisfied that for the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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 in accordance with the microentity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

----- Start of picture text -----
Signature(s)
Full name(s) Muhammad Najmul Alam
Position (for example Chair
Secretary, Chair, etc)
Date
20th December 2021
----- End of picture text -----

HAFS ACADEMY LTD Notes to the Financial Statements for the year ended 31-Mar-2021

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, applicable accounting standards and the Financial Reporting Standard for Smaller Entities (effective January 2015). Accounting and Reporting by Charities - Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015) and in accordance with the Companies Act 2006.

Fund Accounting

The General Fund is unrestricted and available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not been designated for other purposes.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors, which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. Statutory grants which are given as contributions towards the Charity's core services are treated as unrestricted.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income tax recoverable in relation to investment income or Gift Aid donations is recognised at the time the relevant income in receivable.

Resources expended

All expenditure is accounted for gross and when incurred.

8

HAFS ACADEMY LTD Notes to the Financial Statements for the year ended 31-Mar-2021

2 Operating profit
This is stated after charging:
Depreciation of owned fixed assets
3 Interest Payable
4 Tangible Fixed Assets
Cost: Opening Balance
Additions
Closing Balance
Accumulated Depreciation
Opening Balance
Charge for the year
Closing Balance
Net Book Value
5 Deposits and Other Receivable
Deposit
Rent Deposit
Other Receivable
Lease prepayments
6 Creditors: amounts falling due within one year
Bank Loans
Other creditors
7 Creditors: amounts falling due after more than one year
Bank Loans
Other creditors
8 Profit & Loss Account
Opening balance
Profit/(loss) for the year
Closing balance		 2021
£
1,237
-
31,659
-
31,659
25,475
1,237
26,712
4,947
3,833
102,074
105,907
5,833
8,095
13,928
44,167
124,969
169,136
(32,951)
(27,239)
(60,190)		 2020
£
1,546
-
31,659
-
31,659
23,930
1,546
25,475
6,183
3,833
115,115
118,948
-
27,122
27,122
-
132,619
132,619
(45,135)
12,184
(32,951)

9

HAFS ACADEMY LTD

Detailed Income and Expenditure account for the year ended 31-Mar-2021

9 Sales
Donations
Fees Received
Local authority grants
JRS Grant income
10 Cost of sales
School activities
Resources
Funfair expense
Staff verification
Wages
Tuition fee paid to agency
NI Expense
Regulator
11 Administration Expenses
Rent
Rates
Staff DBS Checks
Consultancy fees
Storage
Repairs & maintenance
Gas & electricity / Light & heat
Insurance
Lease Expense
Depreciation
Stationery & Printing
Staff Training
Bank charges
Subscriptions
Sundry
Telephone & Fax
Travel
Waste Collection
Water Charges
Solicitors Fees
Mini bus road tax
Fundraising event
Security charges
Internet		 2021
2020
£
£
36,969
53,460
170,232
287,659
12,565
-
90,460
-
310,225
341,119
12,594
3,004
715
3,452
-
2,835
-
263
210,358
204,732
-
3,196
-
934
2,574
1,428
226,241
219,843
64,286
65,625
3,292
5,569
1,132
-
300
-
720
-
3,015
2,489
2,631
7,918
2,739
2,402
13,041
13,041
1,237
1,546
4,580
1,513
789
122
252
311
761
589
3,014
1,448
1,080
1,634
-
165
564
752
1,683
1,369
5,455
500
72
228
-
500
-
1,191
580
179
111,223
109,092

10