Charity number: 1146363
AL - MAHDI FOUNDATION
Trustees' report and financial statements
for the year ended 31 March 2021
AL - MAHDI FOUNDATION
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 3 |
| Independent examiners' report | 4 |
| Statement of financial activities | 5 |
| Income and expenditure account | 6 |
| 7 | |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 12 |
AL - MAHDI FOUNDATION
Legal and administrative information
| Charity number | 1146363 |
|---|---|
| Business address | ST JOHNS WORKS |
| FERN STREET | |
| BURY | |
| LANCS | |
| BL9 5BP | |
| Trustees | KAFAIT HUSSAIN |
| NAWAZISH ALI | |
| BASHIR AHMED | |
| ABID HUSSAIN | |
| Secretary | BASHIR AHMED |
| Accountants | M SALIM & CO |
| 51 LORD STREET | |
| MANCHESTER | |
| M3 1HE | |
| Bankers | HSBC PLC |
| SILVER STREET | |
| BURY |
Page 1
AL - MAHDI FOUNDATION
Report of the trustees for the year ended 31 March 2021
The trustees present their report and the financial statements for the year ended 31 March 2021. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
Al-Mahdi foundation is registered with the charity commission. It is governed by Charity Commission requirements and is managed by the Trustees.
Objectives and activities
REFURBISHMENT
During the year building repairs have continued
COMMEMORATED MONTH OF MUHARAM
give food to elderley, women and children. Special educational and spirtual lectures were held.
CELBRATION OF MONTH OF RAMADAN
Extended prayers and spirtual lectures were arranged daily and fast opening was arranged in full month of ramadan
FUTURE PLANS
Future plans are to expand th hall so learning classes can take place for ladied and children.
Achievements and performance
Charity is meeting all objectives set and is taking steps to ensure long term survival and sustainability.
Financial review
Detailed statement of financial activities set out on page 14 and 15.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. 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
Page 2
AL - MAHDI FOUNDATION
Report of the trustees for the year ended 31 March 2021
On behalf of the board
BASHIR AHMED Secretary
Page 3
AL - MAHDI FOUNDATION
Independent examiner's report to the trustees on the unaudited financial statements of AL - MAHDI FOUNDATION.
I report on the accounts of AL - MAHDI FOUNDATION for the year ended 31 March 2021 set out on pages 2 to 12.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
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 I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(i) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep proper accounting records in accordance with section 41 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Independent examiner
Page 4
AL - MAHDI FOUNDATION
Statement of financial activities
For the year ended 31 March 2021
| Notes Incoming resources Incoming resources from generating funds: Voluntary income 2 Other incoming resources 3 Total incoming resources Resources expended Costs of generating funds: Cost of generating voluntary income 4 Governance costs 5 Total resources expended Total funds brought forward Total funds carried forward |
2021 Total £ 15,068 14,300 29,368 10,987 3,569 14,556 207,771 222,583 |
2020 Total £ 21,765 20,150 |
|---|---|---|
| 41,915 | ||
| 24,246 5,521 |
||
| 29,767 | ||
| 195,623 | ||
| 207,771 |
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 9 to 12 form an integral part of these financial statements.
Page 5
AL - MAHDI FOUNDATION
Income and expenditure account
For the year ended 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | |||
| Income | 29,368 | 41,915 | |||
| Operating expenditure | 10,987 | (24,246 | ) | ||
| Operating surplus | 18,381 | 17,669 | |||
| Interest payable and similar charges | (3,569 | ) | (5,521 | ) | |
| Retained surplus for the financial year | 14,812 | 12,148 |
All activities derive from continuing operations.
The notes on pages 9 to 12 form an integral part of these financial statements.
Page 6
AL - MAHDI FOUNDATION
The notes on pages 9 to 12 form an integral part of these financial statements.
Page 7
AL - MAHDI FOUNDATION
Balance sheet as at 31 March 2021
| Notes Fixed assets Tangible assets 8 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 10 Net assets Funds 11 Total funds |
2021 £ £ 272,631 27,398 27,398 ) (1,000 26,398 299,029 ) (76,446 222,583 222,583 |
2020 £ £ 272,631 24,090 24,090 ) (1,000 23,090 295,721 ) (87,950 207,771 207,771 |
|---|---|---|
The financial statements were approved by the trustees on and signed on its behalf by
KAFAIT HUSSAIN Trustee
The notes on pages 9 to 12 form an integral part of these financial statements.
Page 8
AL - MAHDI FOUNDATION
Notes to financial statements for the year ended 31 March 2021
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.
1.2. Cashflow
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.
1.3. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
1.4. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
1.5. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings
Straight line over years
Page 9
AL - MAHDI FOUNDATION
Notes to financial statements for the year ended 31 March 2021
| 2. Voluntary income Donations 3. Other incoming resources Other income 4. Cost of generating voluntary income Support costs 5. Governance costs Interest - Bank loans & overdraft |
2021 Total £ 15,068 15,068 2021 Total £ 14,300 14,300 2021 Total £ 10,987 10,987 2021 Total £ 3,569 3,569 |
2020 Total £ 21,765 |
|---|---|---|
| 21,765 | ||
| 2020 Total £ 20,150 |
||
| 20,150 | ||
| 2020 Total £ 24,246 |
||
| 24,246 | ||
| 2020 Total £ 5,521 |
||
| 5,521 |
Page 10
AL - MAHDI FOUNDATION
Notes to financial statements for the year ended 31 March 2021
6. Analysis of support costs
| Cost of generating voluntary 2021 income Total £ £ Staff costs 2,100 2,100 Rates and water 1,277 1,277 Light and heat 3,270 3,270 Repairs and maintenance 1,451 1,451 Insurance 2,118 2,118 Other establishment costs 254 254 Accountancy charges 500 500 Other office expenses 17 17 10,987 10,987 7. Employees Employment costs 2021 £ Wages and salaries 2,100 No employee received emoluments of more than £60,000 (2020 : None). Number of employees The average monthly numbers of employees (including the trustees) during the year, calculated on the full time equivalents, was as follows: |
2020 Total £ 10,050 1,462 1,528 8,172 1,741 275 500 518 |
|
|---|---|---|
| 24,246 | ||
| 2020 £ 10,050 basis of |
| 2021 | 2020 |
|---|---|
| Number | Number |
| 1 | 1 |
Page 11
AL - MAHDI FOUNDATION
Notes to financial statements for the year ended 31 March 2021
| Land and 8. Tangible fixed assets buildings freehold £ Cost At 1 April 2020 and At 31 March 2021 272,631 Net book values At 31 March 2021 272,631 At 31 March 2020 272,631 9. Creditors: amounts falling due within one year 2021 £ Accruals and deferred income 1,000 10. Creditors: amounts falling due after more than one year 2021 £ Bank loan 76,446 11. Analysis of net assets between funds Unrestricted funds £ Fund balances at 31 March 2021 as represented by: Current assets 222,583 222,583 |
Total £ 272,631 272,631 272,631 2020 £ 1,000 2020 £ 87,950 Total funds £ 222,583 222,583 |
|---|---|
Page 12
AL - MAHDI FOUNDATION
The following pages do not form part of the statutory accounts.
AL - MAHDI FOUNDATION
Detailed statement of financial activities
For the year ended 31 March 2021
| 2021 | 2021 | 2020 | 2020 | |||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Incoming resources | ||||||
| Incoming resources from generating funds: | ||||||
| Voluntary income | ||||||
| Donations | 15,068 | 21,765 | ||||
| 15,068 | 21,765 | |||||
| Total incoming resources from generating funds | 15,068 | 21,765 | ||||
| Other incoming resources | ||||||
| Other income | 14,300 | 20,150 | ||||
| 14,300 | 20,150 | |||||
| Total incoming resources | 29,368 | 41,915 | ||||
| Resources expended | ||||||
| Costs of generating funds: | ||||||
| Support costs | ||||||
| Support - Staff - Wages & salaries | 2,100 | 10,050 | ||||
| Support - Establishment - Rates & water | 1,277 | 1,462 | ||||
| Support - Establishment - Light & heat | 3,270 | 1,528 | ||||
| Support - Establishment - Repairs & maintenance | 1,451 | 8,172 | ||||
| Support - Establishment - Insurance | 2,118 | 1,741 | ||||
| Support - Establishment - Other | 254 | 275 | ||||
| Support - Professional - Accountancy fees | 500 | 500 | ||||
| Support - Office expenses - Other | 17 | 518 | ||||
| 10,987 | 24,246 | |||||
| Total cost of generating voluntary income | 10,987 | 24,246 | ||||
| Fundraising trading: | ||||||
| cost of goods sold and other costs | ||||||
| Total costs of generating funds | 10,987 | 24,246 |
Page 14
AL - MAHDI FOUNDATION
Detailed statement of financial activities
For the year ended 31 March 2021
| Charitable activities Governance costs Activities undertaken directly Interest - Bank loans & overdraft Total governance costs Net incoming/(outgoing) resources for the year |
2021 £ 3,569 3,569 3,569 14,812 |
2020 £ 5,521 5,521 5,521 12,148 |
2020 £ 5,521 5,521 5,521 12,148 |
|---|---|---|---|
| 5,521 | |||
| 12,148 |
Page 15