Charity registration number: 1148337
The Aspire Trust
Annual Report and Financial Statements
for the year ending 31st March 2022
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 11 December 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 2022
| 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 Casual wages Rates Light, heat and power Insurance Repairs and renewals Telephone Legal and professional fees Donations Depreciation of solar panels Depreciation of fixtures and fittings Depreciation of computer equipment Net income |
2022 123,249 12,284 3,304 - 138,837 - 138,837 - 16,731 - 16,731 74,990 840 4,635 11,687 2,570 4,451 741 2,563 22,066 975 207 177 125,902 29,666 |
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 |
4
The Aspire Trust Balance Sheet for the year ending 31st March 2022
| 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 |
2022 110,545 118,377 2,715 231,637 3,477 10,000 1,586 15,063 216,574 186,908 29,666 216,574 |
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 |
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 2022
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 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the period At 31 March 2022 Net book value As at 31 March 2022 At 31 March 2021 |
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 8,775 5,021 4,564 18,360 0 975 207 177 1,359 |
|
| 0 9,750 5,228 4,741 19,719 |
|
| 95,543 14,620 205 177 110,545 |
|
| 95,543 15,595 412 354 111,904 |
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