Company registration number: 08087672
Charity no: 1149542
ZAKAT FOUNDATION OF INDIA (INTERNATIONAL)
Company limited by guarantee
Directors’ and Trustees’ report and financial statements
Year Ended: 31 May 2024
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Contents
| Page | |
|---|---|
| Trustees (Director’s) report | 3 |
| Independent Examiner’s Report | 6 |
| Statement of financial activities | 8 |
| Balance Sheet | 9 |
| Notes to the financial statements | 10 |
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Trustees’ (Director’s Report)
The Trustees, who are also Directors of the charity for the purposes of the Companies act, submit their annual report and the financial statements for the year ended 31 May 2024.
Objectives and activities for the public benefit
The Foundation achieves its Charitable purposes as follows:
The primary objective is to provide assistance- Financial or Otherwise- to Zakat Foundation of India.
Zakat Foundation of India is a Non-Governmental/Non-Profit Organization based in India whose objectives are to
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Collect and utilize ‘zakat’ or charity for socially beneficial projects in a transparent and organized manner;
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Run various projects which result upliftment of the poor, needy and deserving Muslims of India.
Directors
The directors (Trustees) who served during the year are as stated below:
Trustee (Chairman): Dr Syed Zafar Mahmood Trustees: Dr Mohammed Jafer Hussain Qureshi Rev Fr Dr Thumuraj Packiam Dr Syed Saad Mahmood Mr Mohd Shakil Mr Shadab Ahmad
Governance and Management
The Charity is a company limited by guarantee and a charity registered with the Charity Commission of the UK. Details of Governance are as set out in the articles of association. It has no share capital and the liability of each member in the event of winding-up is limited to £10.
Reserves Policy
The Trustees aim to maintain free reserves in unrestricted funds to cover the day to day running costs of about £2000.
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Summary of the main achievements during the period
Activities that the Charity was involved in
Orphanages
The Foundation runs two orphanages, known as Happy Homes in Delhi (one each for boys & girls). For further details kindly visit: http://www.zakatindia.org/ProjectsOrphanage.html
Medical Centres
The Foundation runs free medical centres for the poor and needy - known as Mercy Homes situated in Zakat House, Madanpur Khadar, New Delhi and Zakat House, Bahraich (UP) where poor patients are attended to, medicines are disbursed to them and they are provided referral to Tertiary Centres when needed. For further details kindly
visit: https://www.zakatindia.org/ProjectsMedical%20Services.html
Day Care Centres
ZFII runs two Day Care Centres in Aligarh and Rampur for the children of daily wage-earning labourer couples. Details are available at: https://www.zakatindia.org/DayCare.html
Tailoring Institutes for Poor Girls
ZFII runs tailoring institutes in New Delhi, Aligarh and Bahraich in order to empower poor girls. Details can be seen at: https://www.zakatindia.org/Girls-Tailoring-Institutes.html
Monetary assistance and scholarships:
Zakat Foundation disburses monthly food rations/stipends to widows, needy families and indigent people. In addition, scholarships are provided to students who cannot afford their educational expenses.
Empowerment through guidance & coaching
ZFII provides guidance and coaching to academically bright but financially needy girls and boys to well prepare for competitive examinations conducted by the central and provincial public service commissions. This is done at ZFI’s Sir Syed Coaching & Guidance Centres in New Delhi, Lucknow, Bhopal and Bahraich.
Please follow link for further information: https://www.zakatindia.org/CivilServices.html ZFII has further diversified its empowerment project by putting up additional institutional arrangements to select and prepare larger number of candidates for the examinations. Awareness cum orientation programs were organized in several states.
The ZFII Unit for non-UPSC (Union Public Service Commission) services began functioning in 2020. Currently students from forty-one districts are receiving online as well as physical coaching. The preparation and appearance at such competitive examinations is a continuous process. Good results have been coming in.
Disaster Relief
ZFII provides material and financial assistance to the victims of disasters. For further detail, please follow link: https://www.zakatindia.org/DisasterRelief.html
Retrieval & Restoration of Public Charitable Endowments
ZFII runs National Waqf Academy providing guidance and coaching to interested persons empowering them to systematically make efforts for retrieval of charitable public endowments from illegal occupation or misuse and their restoration for public benefit. Details can be seen at: https://www.zakatindia.org/NWA.html
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Public Benefit
The Zakat Foundation of India (International) has referred to the guidance in the Charity Commission’s General Guidance on Public Benefit when reviewing its aims and objectives and in planning its activities. The activities of the charity are planned to contribute to the aims and objectives set out in our Articles of Association.
Statement of trustees’ responsibilities
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP 2015 (FRS102)
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board on 27[th] March 2025 and signed on its behalf by
SAhmad S Ahmad Trustee
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Independent Examiner’s Report
| Report to the trustees/directors/ members of On accounts for the year ended Set out on pages |
ZAKAT FOUNDATION OF INDIA (INTERNATIONAL) | ZAKAT FOUNDATION OF INDIA (INTERNATIONAL) | ZAKAT FOUNDATION OF INDIA (INTERNATIONAL) | ZAKAT FOUNDATION OF INDIA (INTERNATIONAL) | |||
|---|---|---|---|---|---|---|---|
| 31 May 2024 | |||||||
| Charity no.: | 1149542 | Company no.: | 08087672 | ||||
| 8-11 |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31/05/2024.
As the charity’s trustees of the Company (who are also the directors of the Responsibilities and company for the purposes of company law), you are responsible for the basis of report preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
• 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).
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
I have no concerns and 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.
| Signed: Name: Address: |
ZAMukadam | 26/03/2025 |
|---|---|---|
| Zahira Mukadam, FCCA | ||
| 183 Edgware Road | ||
| London | ||
| NW9 6LP |
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Annual accounts for the period
Period end 01/06/2023 To 31/05/2024 date
Section A Statement of financial activities (including summary income and expenditure account)
| Expenditure Expenditure on: Tax payable Net gains/(losses) on investments Extraordinary items Other gains/(losses) Reconciliation of funds: Charitable activities Other trading activities Net income/(expenditure) before tax for the reporting period Raising funds Separate material item of income Other Other Investments Other recognised gains/(losses): Total Recommended categories by activity Income Income and endowments from: Donations and legacies Gains and losses on revaluation of fixed assets for the charity’s own use Charitable activities Separate material expense item Total funds carried forward Total Net income/(expenditure) after tax before investment gains/(losses) Net income/(expenditure) Transfers between funds Net movement in funds Total funds brought forward |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 25,783 - - 25,783 21,870 - - - - - - - - - - - - - - - - - - - - - - - - |
|---|---|
| 25,783 - - 25,783 21,870 |
|
| - - - - 10,115 - - 10,115 11,200 865 - - 865 2,389 |
|
| 10,980 - - 10,980 13,589 |
|
| 14803.00 - - 14803.00 8281.00 |
|
| - - - - - |
|
| 14803.00 - - 14803.00 8281.00 |
|
| - - - - - |
|
| 14803.00 - - 14803.00 8281.00 |
|
| - - - - - - - - - - - - - - - - - - - |
|
| 14803.00 - - 14803.00 8281.00 |
|
| 16,180 - - 16,180 7,899 |
|
| 30,983 - - 30,983 16,180 |
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Section B Balance sheet
| Fixed assets Intangible assets Tangible assets Heritage assets Investments Total fixed assets Current assets Stocks Debtors Investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds Restricted income funds Unrestricted funds Revaluation reserve Fair value reserve Total funds |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 - - - - - - - - - - - - - - - - - - - - |
|---|---|
| - - - - - |
|
| - - - - - - - - - - - - - - - 31,833- -31,833 16,880 |
|
| 31,833 - - 31,833 16,880 |
|
| 850 - - 850 700 |
|
| 30,983 - - 30,983 16,180 |
|
| 30,983 --30,983 16,180 |
|
| - - - - - - - - - - |
|
| 30,983 - - 30,983 16,180 |
|
| - - - - - - 30,983 - 30,983 16,180 - |
|
| 30,983 - - 30,983 16,180 |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
| Signed on behalf of all the trustees/directors | SAhmad Date of approval dd/mm/yyyy 27/03/2025 S Ahmad |
|---|---|
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
Notes to the Financial Statements
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 183 Edgware Road London, NW9 6LP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
3. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with the Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019 ) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Zakat Foundation of India (International) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
b) Preparation of the accounts on a going concern basis
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
d) Fund Accounting
All funds raised have been unrestricted in nature and available to spend on activities that further any of the purposes of charity as the trustees see fit.
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Zakat Foundation of India (International) Company limited by guarantee Charity no: 1149542 Company Number: 08087672
e) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Costs of raising Funds
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Expenditure on charitable activities including Donations.
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Other Expenditure- Largely administrative and regulatory expenses.
f) Taxation
The charity is exempt from tax on its charitable activities.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Limited by guarantee
Liability of members is restricted to £10 in case of winding up of the company.
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