REGISTERED CHARITY NUMBER: 1149150
Report of the Trustees and
Financial Statements for the Period Ended 31 December 2023
for
Al-Hidayah Foundation
Page 1
Al-Hidayah Foundation
CONTENTS OF THE FINANCIAL STATEMENTS For the Period Ended 31 December 2023
| Page | |
|---|---|
| Report of the Trustees | 3-4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 |
Page 2
Al-Hidayah Foundation
Report of the Trustees For the Period Ended 31 December 2023
Charity Objectives
The objectives of Al-Hidayah Foundation are for the public benefit.
The principal aims of the charity and the objective to further the religion of Islam in accordance with the teachings of the Quran and the teachings of prophet Muhammad (Peace be upon him) and the Sahaba-E-Keram (R.A.A) according to the interpretation and accepted view of the Ahlus Sunnah Wal Jamaa-ah
Current Activities
In pursuing our objectives during the financial year ending 31st December 2023, the organisation was engaged in running the following activities:
Evening Religious Education Classes
Knowledge holds an important aspect in the religion ofI slam, Children from the age of 4 and above attend the evening Madrasah Monday to Friday learning the basic principles of Islam (Quran, Masnoon duas, Fiqh, Aqaid, Aadab, Tareekh)
Further Religious Education Classes
This class was initiated for teenagers who have completed their primary madrasah education but wish to enhance their understanding of Islam enabling them to become a good muslim and member of the community.
Website
The objective of the website is to help the community stay connected with our activities. Visitors can subscribe to the mailing list to receive updates and educational bulletins
Publications
The charity publishes and distributes informative and inspirational literature in the english language through the means of Bi-monthly magazines Leaflets
These cover topics which are relevant to the audience primarily the community, pupils and parents of the madrasah.
Page 3
Al-Hidayah Foundation
Report of the Trustees For the Period Ended 31 December 2023
Structure, Governance and Management
Governing document
Al Hidayah Foundation is registered with the Charity Commision (Registration Number 1149150) and constituted by the deed of trust.
Organisational Structure
The charities trustees are responsible for the general control and management of the charity. The Trustees give their time freely and receive no remuneration or benefits. The trustees meet together and are responsible for all decisions taken in relation to running the charity. invest in thorough due diligence, staff and appropriate policies and procedures.
Reference and Administrative details Registered Charity Number
1149150
Principal Address
130-140 Walstead Road Walsall WS5 4LY
Trustees
Mr Yunus Loonat Mr Ismail Bhayat Mr Ahmed Kalang
Accounts prepared by Ashraf Ravat
Audited by Ali Muhammad
Page 4
Al-Hidayah Foundation
PROFIT AND LOSS ACCOUNT For the Period Ended 31 December 2023
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income RESOURCES EXPENDED Charitable activities Default NET INCOMING/(OUTGOING) RESOURCES RECONCILIATION OF FUNDS TOTAL FUNDS CARRIED FORWARD |
31.12.2023 Unrestricted Fund £ 83,735.36 £ 101,048.00 £ 17,312.64 -£ 288,962.12 £ 271,649.48 £ |
31.12.2022 Unrestricted Fund £ 94,010.01 £ 76,254.64 £ |
|---|---|---|
| 17,755.37 £ 271,206.75 £ |
||
| 288,962.12 £ |
Page 6
Al-Hidayah Foundation
BALANCE SHEET For the Period Ended 31 December 2023
| FIXED ASSETS Notes Tangible assets 2 CURRENT ASSETS Cash at bank and in hand Cash in Transit Debtors CREDITORS Amounts falling due within one year 4 CREDITORS Amounts falling due more than one year 5 NET CURRENT ASSETS/ (LIABILITIES) FUNDS Unrestricted funds 7 TOTAL FUNDS |
31.12.2023 Unrestricted Fund £ 295,202.96 £ 41,258.65 £ 2,387.98 £ 3,305.80 £ 342,155.39 £ 8,005.91 -£ 62,500.00 -£ 271,649.48 £ 271,649.48 £ 271,649.48 £ |
31.12.2022 Unrestricted Fund £ 281,346.00 £ 66,940.33 £ 2,641.69 £ 6,801.00 £ |
|---|---|---|
| 357,729.02 £ 6,266.90 -£ |
||
| 62,500.00 -£ |
||
| 288,962.12 £ 288,962.12 £ |
||
| 288,962.12 £ |
Page 7
Al-Hidayah Foundation
NOTES TO THE FINANCIAL STATEMENTS For the Period Ended 31 December 2023
1 ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & Building 15 Years useful life Fixtures and fittings - 20% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Al-Hidayah Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued For the Period Ended 31 December 2023
| 2 TANGIBLE FIXED ASSETS Cost b/f Additions At 31 Dec 2023 Depreciation Depreciation b/f Charge for the Year NET BOOK VALUE 31/12/2023 31/12/2022 3 STAFF COSTS Wages and salaries |
Land & Building 280,858.00 £ 14,952.00 £ 295,810.00 £ - £ 996.80 £ 996.80 £ 294,813.20 £ 280,858.00 £ |
Fixtures & Fittings 1,408.00 £ - £ 1,408.00 £ 920.80 £ 97.44 £ 1,018.24 £ 389.76 £ 488.00 £ 2023 £ 12 12 |
Total 282,266.00 £ 14,952.00 £ |
|---|---|---|---|
| 297,218.00 £ |
|||
| 920.80 £ 1,094.24 £ |
|||
| 2,015.04 £ |
|||
| 295,202.96 £ |
|||
| 281,346.00 £ |
|||
| 2022 £ 11 |
|||
| 11 |
The average monthly number of employees during the year was as follows: 12 No employees received emoluments in excess of £60,000.
Trustees Remuneration and Benefits
There were no trustees' remuneration or benfits to declare for the year ended 31 December 2023 nor in 31 December 2022
Trustees' Expenses
There were no trustees' expenses to declare for the year ended 31 December 2023 nor for the year ended 31 December 2022
Related Party Transactions
There were no related party transactions for the year ended 31 December 2023
| 4 CREDITORS: AMOUNTS DUE WITHIN ONE YEAR Other Creditors Taxation and Social Security Outstanding Wages |
2023 £ 46.26 £ 485.31 £ 7,474.34 £ 8,005.91 £ |
2022 £ - £ 414.60 £ 5,852.30 £ |
|---|---|---|
| 6,266.90 £ |
Page 9
Al-Hidayah Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued For the Period Ended 31 December 2023
| 5 CREDITORS: AMOUNTS DUE MORE THAN ONE YEAR Interest Free Loans - Karze Hasana 6 MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS MOVEMENT IN FUNDS CURRENT YEAR At 1.1.23 £ Unrestricted funds General fund 288,962.12 £ TOTAL FUNDS 288,962.12 £ Net movement in funds, included in the above are as follows: Incoming resources Unrestricted funds General fund 83,735.36 £ 83,735.36 £ |
2023 £ 62,500.00 £ 62,500.00 £ Net movement in funds 2023 £ 271,649.48 £ 271,649.48 £ Net movement in funds £ 17,312.64 -£ 17,312.64 -£ Resources expended 101,048.00 -£ 101,048.00 -£ |
2022 £ 62,500.00 £ |
|---|---|---|
| 62,500.00 £ |
||
| Net movement in funds 2022 £ 288,962.12 £ |
||
| 288,962.12 £ |
||
| At 31.12.23 £ 271,649.48 £ |
||
| 271,649.48 £ |
||
| Movement in funds 17,312.64 -£ |
||
| 17,312.64 -£ |
Page 10
Al-Hidayah Foundation
PROFIT AND LOSS ACCOUNT For the Period Ended 31 December 2023
| INCOMING RESOURCES Voluntary income Donations Donations- Fundraising Donations- Rental Income Donations- Tuition Gift Aid Total incoming resources RESOURCES EXPENDED Charitable activities Repairs Fundraising Expenditure Tuition Expenditure Council Tax Rates Cleaning Light and Heat Insurance Stationery & Printing Wages Internet Licence Fee Legal & Professional Prizes Accountancy Fees Sundry Sub-Contracting Costs I.T Costs Depreciation Total resources expended Net (expenditure)/income |
2023 £ 22,401.52 £ 9,442.96 £ 410.00 £ 51,480.88 £ 83,735.36 £ 5,022.94 £ 5,019.20 £ 2,192.00 £ 2,875.29 £ 459.00 £ 70.82 £ 2,940.22 £ 1,198.21 £ 1,114.21 £ 75,968.59 £ 165.98 £ 400.00 £ 590.40 £ 473.63 £ - £ 71.28 £ 1,391.99 £ - £ 1,094.24 £ 101,048.00 £ 101,048.00 £ 17,312.64 -£ |
2022 £ 18,816.63 £ 9,071.88 £ 5,440.00 £ 60,681.50 £ |
|---|---|---|
| 94,010.01 £ |
||
| 651.15 £ 5,974.17 £ - £ - £ 1,796.25 £ 166.21 £ 772.67 £ 1,107.38 £ 739.31 £ 63,702.10 £ - £ - £ - £ 223.00 £ 870.00 £ - £ 86.78 £ 28.82 £ 136.80 £ |
||
| 76,254.64 £ |
||
| 76,254.64 £ |
||
| 17,755.37 £ |