Charity registration number: 1148337 ## The Aspire Trust Annual Report and Financial Statements for the year ending 31st March 2023 ## **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| |for the year ending 31st March 2023|| 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 Naeem Hamza Mr Imran Rafiq for the year ending 31st March 2023 Mr Neal Malik **Registered office** 97 Hopwood Lane Halifax HX1 4ET 2 **Trustees' Report** ## **The Aspire Trust** ## **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 25 May 2023 and signed on its behalf by: for the year ending 31st March 2023 ......................................... ......................................... Dr Zafar Iqbal Mr Arshid Hussain Trustee Trustee ......................................... ......................................... Mr Mohammed Ameen Dr Asif Yaseen Trustee Trustee ......................................... Mr Imran Rafiq Trustee 3 ## **The Aspire Trust Statement of Financial Activities for the year ending 31st March 2023** |**VOLUNTARY INCOME**
Appeals and donations
Gift aid
Solar panel income
**Cost of sales**
Purchases
**Gross profit**
**for the year ending 31st March 2023**
Rental income
Grants
**Total resources expended**
**Direct costs**
Wages and salaries
Casual wages
Rates
Light, heat and power
Insurance
Repairs and renewals
Telephone
Postage and stationery
Legal and professional fees
Travel and subsistence
Donations
Depreciation of solar panels
Depreciation of fixtures and fittings
Depreciation of computer equipment
**Net income**|**2023**
152,370
17,517
632
170,519
-
170,519
32,141
-
32,141
74,029
804
5,146
17,344
2,754
48,974
812
200
12,755
650
41,963
975
205
177
206,788
**(4,128)**|**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**| |---|---|---| 4 ## **The Aspire Trust Balance Sheet for the year ending 31st March 2023** |**Note**
**Fixed Assets**
Tangible assets
2
**Current assets**
Cash at back and in hand
Trade debtors
**Creditors**
Trade creditors
Interest free loan
PAYE
for the year ending 31st March 2023
**Net business assets represented by**
Capital account:
Balance brought forward
Net profit|**2022**
109,188
115,618
1,846
226,652
3,195
10,000
1,011
14,206
212,446
216,574
-4,128
212,446|**2021**
110,545
118,377
2,715
231,637
3,477
10,000
1,586
15,063
216,574
186,908
29,666
216,574| |---|---|---| 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** for the year ending 31st March 2023 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 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the period
At 31 March 2023
**Net book value**
As at 31 March 2023
At 31 March 2022|Land and
buildings
Solar
panels
Fixtures and
fittings
Computer
equipment
Totals
£
£
£
£
£
95,543
24,370
5,433
4,918
130,264
0
0
0
0
95,543
24,370
5,433
4,918
130,264
0
9,750
5,228
4,741
19,719
0
975
205
177
1,357
0
10,725
5,433
4,918
21,076
95,543
13,645
0
0
109,188
95,543
14,620
205
177
110,545| |---|---| 7