Charity registration number: 1148337 The Aspire Trust Annual Report and Financial Statements for the year ending 31st March 2021 ## **The Aspire Trust Contents** ||**Page**| |---|---| |Reference and Administrative details|2| |Trustees' Report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 to 7| 1 ## **The Aspire Trust Business Information** ## **Charity name** The Aspire Trust ## **Charity registration number** 1148337 ## **Trustees** Dr Zafar Iqbal Mr Arshid Hussain Mr Mohammed Ozair Mr Mohammed Ameen Mr Haq Nawaz Mr Naeem Hamza Mr Imran Rafiq Dr Asif Yaseen Mr Neal Malik ## **Registered office** 97 Hopwood Lane Halifax HX1 4ET 2 ## **The Aspire Trust** ## **Trustees' Report** ## **Summary of the objects of the charity set out in its governing document** The objects of the charity are: To advance the religion of Islam for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature on the Islamic faith to enlighten others about the Islamic religion. To advance the education of the public on the subject of the Islamic religion. ## **Small company provisions** This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Approved by the Board on 8 January 2022 and signed on its behalf by: ......................................... ......................................... Dr Zafar Iqbal Mr Arshid Hussain Trustee Trustee ......................................... Mr Mohammed Ameen Mr Haq Nawaz Trustee Trustee ......................................... ......................................... Mr Imran Rafiq Dr Asif Yaseen Trustee Trustee 3 ## **The Aspire Trust Statement of Financial Activities for the year ending 31st March 2021** |**VOLUNTARY INCOME**
Appeals and donations
Gift aid
Solar panel income
SMP income
**Cost of sales**
Purchases
**Gross profit**
**Other income**
Expenses reimbursed
Rental income
Grants
**Total resources expended**
**Direct costs**
Wages and salaries
Employers NIC
Casual wages
Learning resources
Rates
Light, heat and power
Insurance
Repairs and renewals
Telephone
Legal and professional fees
Donations
Bank charges
Depreciation of solar panels
Depreciation of fixtures and fittings
Depreciation of computer equipment
**Net income**|**2021**
205,449
19,960
3,056
1,028
229,493
-
229,493
24,893
14,000
6,000
44,893
79,513
-
960
-
3,891
10,225
2,366
16,663
668
11,036
15,851
-
975
207
177
142,532
**131,854**|**2020**
155,502
-
2,855
3,425
161,782
2,735
159,047
202
-
-
202
80,924
498
-
2,300
6,532
11,432
2,483
11,133
481
9,077
27,203
161
975
207
177
153,583
**5,666**| |---|---|---| 4 ## **The Aspire Trust** ## **Balance Sheet** ## **for the year ending 31st March 2021** |**Note**
**Fixed Assets**
Tangible assets
2
**Current assets**
Cash at back and in hand
Trade debtors
**Creditors**
Trade creditors
Interest free loan
PAYE
**Net business assets represented by**
Capital account:
Balance brought forward
Net profit|**2021**
111,904
104,610
6,815
223,329
3,644
31,427
1,350
36,421
186,908
55,054
131,854
186,908|**2020**
17,720
48,014
3,285
69,019
3,544
10,000
421
13,965
55,054
49,388
5,666
55,054| |---|---|---| I approve these accounts and confirm that I have made available all relevant records and information for their preparation. Imran Rafiq Trustee 5 ## **The Aspire Trust Notes to the Financial Statements for the Period Ended 31 March 2020** ## **Accounting policies** ## **Basis of preparation** The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, applicable accounting standards and the Companies Act 2006. ## **Fund accounting policy** Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. ## **Incoming resources** Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. ## **Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the that aggregate all costs related to the category. 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. ## **Fixed assets** Individual fixed assets costing £0 or more are initially recorded at cost. ## **Depreciation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Solar Panels 4% straight line basis (over 25 years) Fixtures and fittings 25% straight line basis Computer equipment 25% straight line basis 6 ## **2 Tangible fixed assets** |**Cost**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the period
At 31 March 2021
**Net book value**
As at 31 March 2021
At 31 March 2020|Land and
buildings
Solar
panels
Fixtures and
fittings
Computer
equipment
Totals
£
£
£
£
£
0
24,370
5,433
4,918
34,721
95,543
0
0
0
95,543
95,543
24,370
5,433
4,918
130,264
0
7,800
4,814
4,387
17,001
0
975
207
177
1,359
0
8,775
5,021
4,564
18,360
95,543
15,595
412
354
111,904
0
16,570
619
531
17,720| |---|---| 7