**COMPANY REGISTRATION NUMBER: 08185149 CHARITY REGISTRATION NUMBER: 1150131** **The Imaan Trust Ltd Company Limited by Guarantee Unaudited Financial Statements 31 August 2022** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee Financial Statements Year ended 31 August 2022** ||**Page**| |---|---| |Trustees' annual report (incorporating the director's report)|**1**| |Independent examiner's report to the trustees|**3**| |Statement of financial activities (including income and|| |expenditure account)|**4**| |Statement of financial position|**5**| |Notes to the financial statements|**6**| ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** ## **Year ended 31 August 2022** The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2022. ## **Reference and administrative details** **Registered charity name** The Imaan Trust Ltd **Charity registration number** 1150131 **Company registration number** 08185149 **Principal office and registered** Stoneham House **office** 17 Scarbrook Road Croydon CR0 1SQ Surrey **The trustees** Mr H Datoo Mr Z Nazarali Mr R Datoo Mr RA Hiridjee **Company secretary** Mr Habib Datoo **Independent examiner** Al-Mahari & Co The Wimbledon Arches 1 Archway Close London SW19 8UL ## **Structure, governance and management** The organisation is a company limited by guarantee, incorporated on 20th August 2012 and registered as a charity on 11th December 2012. ## **Objectives and activities** 1) To help alleviate poverty in third world countries 2) To provide food, medical provisions and shelter to the poor and needy in third world countries ## **Achievements and performance** The directors consider that the performance of the charity this year has been satisfactory. ## **Financial review** With the aid of sound financial management the charity has achieved a satisfactory outcome for the year, with sufficient resources to continue its activities in the forthcoming years. **- 1 -** The Imaan Trust Ltd Company Limited by Guarantee Trustees. Annual Roport {In¢orporating the Directofs Report) (conlinu Year end￿ 31 August 2022 Plans for fu￿re periods The ¢h8rity intends to ￿￿tInUe ris actr4ilies in pUThlar￿ of its defined obpctwes. Small company provisions This report has been prepared in aw)rdancevAth the provisicffls appluble to companies entided to the small companies exemptKJn. The trustees. annual report was approveil on 10 Marth 21Y23 and signed on behaw of the board of tnjslees by." Mr R Datoo Trustee ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Independent Examiner's Report to the Trustees of The Imaan Trust Ltd** ## **Year ended 31 August 2022** I report to the trustees on my examination of the financial statements of The Imaan Trust Ltd ('the charity') for the year ended 31 August 2022. ## **Responsibilities and basis of report** As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the 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 matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Salam Hasan Al-Mahari & Co Independent Examiner The Wimbledon Arches 1 Archway Close London SW19 8UL **- 3 -** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Statement of Financial Activities (including income and expenditure account)** ## **Year ended 31 August 2022** |||**2022**||2021| |---|---|---|---|---| |||Unrestricted||| |||funds**Total funds**||Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**5**|49,058|**49,058**|49,568| |||----------------------------|----------------------------|----------------------------| |**Total income**||49,058|**49,058**|49,568| |||============================|============================|============================| |**Expenditure**||||| |Expenditure on charitable activities|**6,7**|33,848|**33,848**|44,434| |||----------------------------|----------------------------|----------------------------| |**Total expenditure**||33,848|**33,848**|44,434| |||============================|============================|============================| |||----------------------------|----------------------------|----------------------------| |**Net income and net movement in funds**||15,210|**15,210**|5,134| |||============================|============================|============================| |**Reconciliation of funds**||||| |Total funds brought forward||93,942|**93,942**|88,808| |||--------------------------------|--------------------------------|----------------------------| |**Total funds carried forward**||109,152|**109,152**|93,942| |||================================|================================|============================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 6 to 11 form part of these financial statements.** **- 4 -** The Imaan Trust Ltd Company Limited by Guarantee Statement of Financial Position 31 August 2022 2022 2021 Hxed assets Tangible fLxed assets 12 50,440 Curr•nt assets Cash al bank and in hand 59.912 44,702 CreditOF5: amounts fallKng duè withln onè yoar 118t currgnt assets 13 1.200 1,200 58.712 43.502 Totsl assets less current liabilrties 109.152 93,942 Net assets 109.152 93,942 Funds ofthe charity Unrestricted funds 109.152 109,152 93,942 93,942 Total charity fund 14 For the yèar ending 31 August 2022 the charity was entilled to exemplion from audi( Ltnder section 477 of the Companiès Act retating to small CoMpan￿s. Dire¢tors' responsibililies.. The members have not required the company to obtsin an audit of ils finanual slat@m8nts for the year in question in accordan￿ with section 476: The direclors acknowledge Iheir responsibilities forcomptying ￿ the requrernents oflhe Actwith res￿ to accounts'ng records and the preparation offinancial statements. These financial statements have been prepared in aCcu￿an￿ with the provisions applicable lo companies subject to the small companies. regime. Th8sefin3ncial slatèmentswerè3pprov8d by the board of tmsteesand aLrthorisedfoT issue on 10 March 2023. and are 5vJned on behaw of the boar(I by-. Mr R Daloo Trustee The not8s on pages 6 to 11 fomi part ofth888 financial statemerts. ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** ## **Year ended 31 August 2022** ## **1. General information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Stoneham House, 17 Scarbrook Road, Croydon, CR0 1SQ, Surrey. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ## **3. Accounting policies** ## **Designated funds** Designated funds are funds which have been set aside or utilised for a specific purpose and are not available for general use. Some designated funds can be recognised as income over a period, and these are shown in the movement of funds and in the income and expenditure account. ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Unrestricted funds** Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Donations and legacies** Donations, legacies and other forms of voluntary income are recognised as incoming resources when received. Grants are recognised when receivable and the amount can be quantified with reasonable accuracy. ## **Foreign currencies** Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities. **- 6 -** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **3. Accounting policies** _**(continued)**_ ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** 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. Governance costs include those costs associated with meeting the charity's constitutional and statutory requirements as well as costs linked to the strategic management of the charity. ## **Tangible assets** All fixed assets are initially recorded at cost. **- 7 -** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **3. Accounting policies** _**(continued)**_ ## **Impairment of fixed assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. **- 8 -** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** _**(continued)**_ For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **4. Limited by guarantee** The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. ## **5. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |**Donations**||||| |Donations|49,058|**49,058**|49,568|49,568| ||============================|============================|============================|============================| |**Expenditure on charitable activities by fund type**||||| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |Charitable grants|37,602|**37,602**|43,876|43,876| |Support costs|(3,754)|
**(3,754)**|558|558| ||----------------------------|----------------------------|----------------------------|----------------------------| ||33,848|**33,848**|44,434|44,434| ||============================|============================|============================|============================| ## **6. Expenditure on charitable activities by fund type** ## **7. Expenditure on charitable activities by activity type** ||Activities|||| |---|---|---|---|---| ||undertaken|Support|**Total funds**|Total fund| ||directly|costs|**2022**|2021| ||£|£|**£**|£| |Charitable grants|37,602|–|**37,602**|43,876| |Governance costs|–|(3,754)|**(3,754)**|558| ||----------------------------|-----------------------|----------------------------|----------------------------| ||37,602|(3,754)|**33,848**|44,434| ||============================|=======================|============================|============================| **- 9 -** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ||**Year ended 31 August 2022**||| |---|---|---|---| |**8.**|**Net income**||| ||Net income is stated after charging/(crediting):||| |||**2022**|2021| |||**£**|£| ||Foreign exchange differences|**(4,631)**|201| |||=======================|==============| |**9.**|**Independent examination fees**||| |||**2022**|2021| |||**£**|£| ||Fees payable to the independent examiner for:||| ||Independent examination of the financial statements|**100**|600| |||==============|==============| |**10.**|**Staff costs**||| ||The average head count of employees during the year was Nil (2021: Nil).||| ||No employee received employee benefits of more than £60,000 during the|year (2021: Nil).|| |**11.**|**Trustee remuneration and expenses**||| ||No remuneration or other benefits from employment with the charity or|a related|entity were| ||received by the trustees.||| |**12.**|**Tangible fixed assets**||| ||||**Land and**| ||||**buildings**| ||||**£**| ||**Cost**||| ||**At 1 September 2021 and 31 August 2022**||**50,440**| ||||============================| ||**Depreciation**||| ||**At 1 September 2021 and 31 August 2022**||**–**| ||||============================| ||**Carrying amount**||| ||**At 31 August 2022**||**50,440**| ||||============================| ||At 31 August 2021||50,440| ||||============================| |**13.**|**Creditors:** **amounts falling due within one year**||| |||**2022**|2021| |||**£**|£| ||Accruals and deferred income|**1,200**|1,200| |||=======================|=======================| **- 10 -** ## **The Imaan Trust Ltd** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **14. Analysis of charitable funds** ## **Unrestricted funds** ||**Unrestricted funds**||||| |---|---|---|---|---|---| |||At|||**At**| ||1|September|||**31 August 2**| |||2021|Income|Expenditure|**022**| |||£|£|£|**£**| ||General funds|93,942|49,058|(33,848)|
**109,152**| |||============================|============================|============================|================================| |||At|||At| ||1|September|||31 August 20| |||2020|Income|Expenditure|21| |||£|£|£|£| ||General funds|88,808|49,568|(44,434)|
93,942| |||============================|============================|============================|============================| |**15.**|**Analysis of net assets between funds**||||| |||||Unrestricted|**Total Funds**| |||||Funds|**2022**| |||||£|**£**| ||Tangible fixed assets|||50,440|**50,440**| ||Current assets|||59,912|**59,912**| ||Creditors less than 1 year|||(1,200)|
**(1,200)**| |||||--------------------------------|--------------------------------| ||**Net assets**|||109,152|**109,152**| |||||================================|================================| |||||Unrestricted|Total Funds| |||||Funds|2021| |||||£|£| ||Tangible fixed assets|||50,440|50,440| ||Current assets|||44,702|44,702| ||Creditors less than 1 year|||(1,200)|
(1,200)| |||||----------------------------|----------------------------| ||**Net assets**|||93,942|93,942| |||||============================|============================| **- 11 -**