2021-04-30-accounts - Zaman Foundation

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Registered number 08022567 Charity Number: 1148970

Zaman Foundation

Report and Accounts

30 April 2021

Zaman Foundation Registered number 08022567 Trustees' Annual Report for the year ended 30 April 2021

The directors present their report and financial statements for the year ended 30 April 2021.

The directors of the charitable company, (‘the Charity’), are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees. Their responsibilities include all the responsibilities of directors under the Companies Acts and of trustees under the Charities Act.

Reference and Administrative information

Charity Name: Zaman Foundation Charity Registration Number: 1148970 Company registration Number: 08022567 Principle Office: 245C Heckmondwike Road, Dewsbury, WF13 3NF Board of Trustees: Mohammed Eesaa Zaman Noreen Zaman

Independent Examiners/ Accountants

AMS Accountants SBU Ltd 455 Whalley New Road Blackburn Lancashire BB 19SP

Structure, governance and management

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 5 April 2012 and registered as a charity on 14th September 2012. The company was established under a Memorandum of Articles of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and Appointments of Trustees

The directors of the company are also trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association one third of the directors are required to retire by rotation at the annual general meeting.

The existing directors are responsible for the recruitment of new directors.

All of the directors of the company give their time voluntarily and receive no benefit from the charity.

Zaman Foundation Registered number 08022567 Trustees' Annual Report for the year ended 30 April 2021

The directors present their report and financial statements for the year ended 30 April 2021.

Aims and Objectives

The company's principal activity and objective are set out in its memorandum and articles as follows:

The relief of those who are in financial need or who are experiencing suffering as a result of local, national or international disaster or by reason of their social and economic circumstances.

The advancement of their education and protection of health.

Financial Review

Reserves Policy

The policy is to maintain a small reserve, the directors regularly review the reserves and are mindful of only expending monies actually received.

Achievements during the year

During the year charity raised donations of £48974 (2020: £67030) and had a deficit of £540 (2020 deficit of £1991)

Statement of the Directors Trustees's Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to inter p ret this res p onsibilit y as re q uirin g them to follow current best p ractice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; and
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.

Zaman Foundation Registered number 08022567 Trustees' Annual Report for the year ended 30 April 2021

The directors present their report and financial statements for the year ended 30 April 2021. The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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 irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

In so far as the Trustees are aware

there is no relevant information of which the charitable company's independent examiner is unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the company's accountants are aware of the information.

Small Company

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Approval of this report

This report was approved by the board of trustees on 18 February 2022

Mohammed Eesaa Zaman Director and Trustee

Zaman Foundation Independent Examiner's Statement, Report and Opinion

I report on the accounts of the company for the period ended 30 April 2021.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention

Basis of Independent Examiner's Report

My examination was carried out in accordance with 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 the 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 statement below.

Independent Examiner's Statement

In connection with my examination, no material matters have come to my attention (other than that disclosed below *) which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 386 of the Companies Act 2006; or • the accounts do not accord with such records; or

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

•the accounts have not been prepared in accordance with the Charities SORP (FRS102).

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.

AMS Accountants SBU Ltd Accountants and Business Advisors

455 Whalley New Road Blackburn Lancashire BB 19SP

21 February 2022

Zaman Foundation Statement of Financial Activities for the year ended 30 April 2021

Unrestricted	Restricted	Total funds 2021 £ 48,974	Total funds 2020 £ 67,030
funds 2021 £ 48,974	funds 2021 £ -
48,974	-	48,974	67,030
49,514 -	- -	49,514 -	69,021 -
49,514	-	49,514	69,021

(540) (1,460)	- -	(540) (1,460)	(1,991) 531
(2,000)	-	(2,000)	(1,460)

There are no gains or losses other than those recognised in the Statement of Financial Activities

All incoming resources and resources expended are derived from continuing activities

Zaman Foundation Registered number: 08022567 Balance Sheet as at 30 April 2021

Notes Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current liabilities Net assets Funded by Unrestricted funds	2021 £ - (2,000) (2,000) (2,000) (2,000) (2,000)	2020 £ 540 (2,000) (1,460) (1,460) (1,460) (1,460)	2020 £ 540 (2,000) (1,460) (1,460) (1,460) (1,460)	2020

			(1,460)
			(1,460)
			(1,460)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

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

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 financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Mohammed Eesaa Zaman Director

Approved by the board on 21 February 2022

Zaman Foundation Notes to the Accounts for the year ended 30 April 2021

1 Accounting policies

Incoming resources

Donations and grants

Income from donations and grants, including capital grants, is included in incoming resources when these are receivable except as follows:-

When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.

When donors impose conditions which have to be fulfilled before the charity becomes entitled to use of such income, the income is deferred and not included in incoming resources until the preconditions for use have been met.

When donors specify that donations and grants, including capital gains, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

Interest receivable

Interest is included when receivable by the charity.

Expenditure

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the SOFA.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Creditors

Creditors and provision are measured and accounted for in accordance with usually accepted accruals principles.

Taxation

As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applied towards the charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

2	Analysis of incoming resources Volantary income Total incoming resources		Unrestricted funds 2021 £ 48,974 48,974		Restricted funds 2021 £ - -		Total

Zaman Foundation Notes to the Accounts for the year ended 30 April 2021

Unrestricted funds 2 Analysis of resources expended 2021 £ Bank charges - - Charitable activities: Distribution of food & housing cost 49,514 49,514 Governance Accountancy fees - - Total charitable activities 49,514 3 Creditors: amounts falling due within one year Directors Loans Cost of generating voluntary income:		Restricted funds 2021 £ - - - - - - -		Total

4 Other information

Zaman Foundation is a private company limited by shares and incorporated in England. Its registered office is: 245c Heckmondwike Road Dewsbury West Yorkshire WF13 3NF

5 Ultimate controlling party

Zaman Foundation is a company limited by Guarantee and therefore has no issued share capital.

Zaman Foundation

Detailed profit and loss account for the year ended 30 April 2021

This schedule does not form part of the statutory accounts

Sales Volantary income Distribution costs Distribution of food & housing cost Administrative expenses	2021 £ 48,974 49,514 -	2020 £ 67,030	2020
		69,021

		-

Zaman Foundation Detailed profit and loss account for the year ended 30 April 2021

This schedule does not form part of the statutory accounts

Sales Charitible Activities Operating loss Loss before tax	2021 £ 48,974 (49,514) (540) (540)	2020 £ 67,030 (69,021)	2020
		(1,991)
		(1,991)

Zaman Foundation Corporation tax computation Tax reference Period beginning Period ending Accounts period beginning Accounts period ending Adjustment of trading profits Loss before tax per the accounts Adjusted trading loss Taxable profits Trading loss Losses utilised Taxable profit Days in accounting period falling in each tax year Tax year 2020 2021 Corporation tax payable Tax year 2020 2021 Corporation tax payable		1/05/20 30/04/21	1/05/20
		1/05/20 30/04/21	1/05/20
		£ (540)
		(540)
		£ -
		-
	-

Corporation Tax Loss b/f Corporation Tax Loss in the year Corporation Tax Loss c/f	1,991.00 - 540.00 -
	2,531.00 -