REGISTERED COMPANY NUMBER: 08411403 (England and Wales) REGISTERED CHARITY NUMBER: 1151221
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 29 February 2024
for
AL BATOOL (A.S.) SERVICES LIMITED
Walji & Associates Accountants 336 Pinner Road North Harrow Middlesex HA1 4LB
AL BATOOL (A.S.) SERVICES LIMITED
Contents of the Financial Statements for the Year Ended 29 February 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
AL BATOOL (A.S.) SERVICES LIMITED
Report of the Trustees
for the Year Ended 29 February 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 February 2024. The trustees have adopted the provisions of Accounting and Reporting by 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are as follows:
a) To advance the education of the public
b) The relief of sickness and the preservation of physical and mental health of people worldwide, as the need arises
c) The relief of poverty by providing financial assistance to widows, widowers and orphans in Africa
d) To advance the religion of Islam for the benefit of the public through the holding of prayer meetings, lectures, producing and/or distributing literature on Islamic spirituality to enlighten others about the Islamic faith
In the coming year the charity intends to continue its financial support of eligible beneficiaries in order to effectively meet its objectives.
Significant activities
In year to 29 February 2024, the charity achieved the following:
a) Continued financial support of eligible widows and orphans in Benin
b) Continued educational support for orphans in Benin
c) Continued support of eligible students in other regions advancing their education
This year the charity financially supported education, students' living expenses and healthcare. The charity's activities have improved the lives of its beneficiaries through access to education, healthcare and mental wellness. The wellbeing of individuals contributes to a better society.
FINANCIAL REVIEW
Financial position
The charity ended the year with a healthy level of unrestricted reserves and high cash balances, despite incurring a planned deficit in the year. This was the result of a conscious decision to continuing to spend on its charitable activities despite a lower level of income this year, as the charity's strong financial position was able to support this.
Reserves policy
The charity has considered the Charity Commission's guidance on holding reserves and has set an appropriate policy given the nuances of its own activities. As the charity is run on a voluntary basis, and does not have any staff or overhead costs and no long term grant commitments, its reserves requirements are minimal. However, the trustees have deemed it prudent to hold between £50,000-£150,000 of unrestricted free reserves to allow the Charity to continue small scale activities and support beneficiaries whilst it fundraises to build reserves should they get close to this level. The current unrestricted free reserves are well above this amount.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
AL BATOOL (A.S.) SERVICES LIMITED
Report of the Trustees
for the Year Ended 29 February 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
Trustees are recruited through a selection process with the unanimous agreement of all active trustees.
Decision making
The charity and its activities are managed by the trustees who meet on a regular basis to discuss needs and potential activities. Once activities have been agreed, these are carried out and closely monitored by the trustees on an ongoing basis to ensure charitable funds are spent appropriately and the necessary impact is achieved.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08411403 (England and Wales)
Registered Charity number
1151221
Registered office
336 Pinner Road Notrth Harrow Middlesex HA1 4LB
Trustees
R Esmail Mrs R Esmail Dr Z A Esmail Dr J A Jaffer Ms N Jaffer Director/Trustee (appointed 23.11.23)
Company Secretary
Mrs R Esmail
Independent Examiner
Walji & Associates Accountants 336 Pinner Road North Harrow Middlesex HA1 4LB
Approved by order of the board of trustees on 26 November 2024 and signed on its behalf by:
R Esmail - Trustee
Page 2
Independent Examiner's Report to the Trustees of AL BATOOL (A.S.) SERVICES LIMITED
Independent examiner's report to the trustees of AL BATOOL (A.S.) SERVICES LIMITED ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 29 February 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the 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 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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts 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
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the accounts 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.
Mustafa Walji
Walji & Associates Accountants 336 Pinner Road North Harrow Middlesex HA1 4LB
26 November 2024
Page 3
AL BATOOL (A.S.) SERVICES LIMITED
Statement of Financial Activities
for the Year Ended 29 February 2024
| 29.2.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 33,320 Other income 1,958 Total 35,278 EXPENDITURE ON Raising funds 57,500 Charitable activities 2 Orphans & Widows 36,395 Education Support 109,134 Disaster Relief - Business Start Up - Total 203,029 NET INCOME/(EXPENDITURE) (167,751) RECONCILIATION OF FUNDS Total funds brought forward 425,796 TOTAL FUNDS CARRIED FORWARD 258,045 |
28.2.23 Total funds £ 167,580 46,860 |
|---|---|
| 214,440 | |
| - 36,431 156,545 299 938 |
|
| 194,213 | |
| 20,227 405,569 |
|
| 425,796 |
The notes form part of these financial statements
Page 4
AL BATOOL (A.S.) SERVICES LIMITED
Balance Sheet
29 February 2024
| 29.2.24 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 6 9,855 Tangible assets 7 799 10,654 CURRENT ASSETS Debtors 8 80,972 Cash at bank 167,559 248,531 CREDITORS Amounts falling due within one year 9 (1,140) NET CURRENT ASSETS 247,391 TOTAL ASSETS LESS CURRENT LIABILITIES 258,045 NET ASSETS 258,045 FUNDS 11 Unrestricted funds 258,045 TOTAL FUNDS 258,045 |
28.2.23 Total funds £ 10,950 56,405 67,355 80,972 301,249 382,221 (23,780) 358,441 425,796 425,796 425,796 425,796 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 5
AL BATOOL (A.S.) SERVICES LIMITED
Balance Sheet - continued
29 February 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 November 2024 and were signed on its behalf by:
R Esmail - Trustee
J A Jaffer - Trustee
The notes form part of these financial statements
Page 6
AL BATOOL (A.S.) SERVICES LIMITED
Notes to the Financial Statements for the Year Ended 29 February 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Intangible assets
Intangible Assets are valued at cost and amortised over the maximum period of 10 years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Taxation
The charity is exempt from corporation 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.
continued...
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AL BATOOL (A.S.) SERVICES LIMITED
Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
2. CHARITABLE ACTIVITIES COSTS
| Direct Costs £ Orphans & Widows - Education Support 51,500 51,500 3. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Cryptocurrency amortisation 4. TRUSTEES' REMUNERATION AND BENEFITS |
Grant funding of activities £ 36,045 56,584 92,629 |
Support costs Totals £ £ 350 36,395 1,050 109,134 1,400 145,529 29.2.24 28.2.23 £ £ 200 429 1,095 - |
Support costs Totals £ £ 350 36,395 1,050 109,134 1,400 145,529 29.2.24 28.2.23 £ £ 200 429 1,095 - |
|---|---|---|---|
Trustees' expenses
During the year, one trustee was remunerated expenses amounting to £1,437.
There were no trustees' remuneration or other benefits for the year ended 28 February 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 167,580 |
| Other income | 46,860 |
| Total | 214,440 |
| EXPENDITURE ON | |
| Charitable activities | |
| Orphans & Widows | 36,431 |
| Education Support | 156,545 |
| Disaster Relief | 299 |
| Business Start Up | 938 |
| Total | 194,213 |
| NET INCOME | 20,227 |
continued...
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AL BATOOL (A.S.) SERVICES LIMITED
Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 405,569 | |
| TOTAL FUNDS CARRIED FORWARD | 425,796 | |
| 6. | INTANGIBLE FIXED ASSETS | |
| Cryptocurrency | ||
| £ | ||
| COST | ||
| At 1 March 2023 and 29 February 2024 | 10,950 | |
| AMORTISATION | ||
| Charge for year | 1,095 | |
| NET BOOK VALUE | ||
| At 29 February 2024 | 9,855 | |
| At 28 February 2023 | 10,950 |
The Charity purchased 1 Bitcoin in 2020, at a cost of £10,950. In the previous year, this was classified as a current asset, but has now been reclassified as an intangible fixed asset in the Balance Sheet for the current and prior year.
7. TANGIBLE FIXED ASSETS
| Freehold Plant and property machinery £ £ COST At 1 March 2023 56,405 13,865 Additions - 999 Impairments (56,405) - At 29 February 2024 - 14,864 DEPRECIATION At 1 March 2023 - 13,865 Charge for year - 200 At 29 February 2024 - 14,065 NET BOOK VALUE At 29 February 2024 - 799 At 28 February 2023 56,405 - |
Totals £ 70,270 999 (56,405) 14,864 13,865 200 14,065 799 56,405 |
|---|---|
continued...
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AL BATOOL (A.S.) SERVICES LIMITED
Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
7. TANGIBLE FIXED ASSETS - continued
The trustees have assessed the Freehold property category of fixed assets and do not consider the asset to be currently recoverable. They have therefore shown it as an impairment per the criteria of the SORP.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 10) Accrued expenses 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 11. MOVEMENT IN FUNDS At 1.3.23 £ Unrestricted funds General fund 425,796 TOTAL FUNDS 425,796 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 35,278 TOTAL FUNDS 35,278 |
29.2.24 28.2.23 £ £ 80,972 80,972 29.2.24 28.2.23 £ £ - 23,000 1,140 780 1,140 23,780 29.2.24 28.2.23 £ £ - 23,000 Net movement At in funds 29.2.24 £ £ (167,751) 258,045 (167,751) 258,045 Resources Movement expended in funds £ £ (203,029) (167,751) (203,029) (167,751) |
|---|---|
continued...
Page 10
AL BATOOL (A.S.) SERVICES LIMITED
Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.3.22 £ Unrestricted funds General fund 405,569 TOTAL FUNDS 405,569 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 214,440 TOTAL FUNDS 214,440 A current year 12 months and prior year 12 months combined position is as follows: At 1.3.22 £ Unrestricted funds General fund 405,569 TOTAL FUNDS 405,569 |
Net movement At in funds 28.2.23 £ £ 20,227 425,796 20,227 425,796 Resources Movement expended in funds £ £ (194,213) 20,227 (194,213) 20,227 Net movement At in funds 29.2.24 £ £ (147,524) 258,045 (147,524) 258,045 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 249,718 249,718 |
Resources Movement expended in funds £ £ (397,242) (147,524) (397,242) (147,524) |
|---|---|---|
continued...
Page 11
AL BATOOL (A.S.) SERVICES LIMITED
Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 29 February 2024 nor for the year ended 28 February 2023.
Page 12
AL BATOOL (A.S.) SERVICES LIMITED
Detailed Statement of Financial Activities for the Year Ended 29 February 2024
| Detailed Statement of Financial Activities for the Year Ended 29 February 2024 |
||
|---|---|---|
| 29.2.24 | 28.2.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donation Received | 33,320 | 167,580 |
| Other income | ||
| Gift Aid income | - | 46,776 |
| Interest received | 1,958 | 84 |
| 1,958 | 46,860 | |
| Total incoming resources | 35,278 | 214,440 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Impairment of tangible asset | 56,405 | - |
| Other trading activities | ||
| Amortisation of intangible fixed assets | 1,095 | - |
| Charitable activities | ||
| Other direct costs | 51,500 | 38,250 |
| Grants to individuals | 92,629 | 127,392 |
| 144,129 | 165,642 | |
| Support costs | ||
| Finance | ||
| Accountancy fees | 1,200 | 840 |
| Bank charges | - | 24 |
| 1,200 | 864 | |
| Other | ||
| Travel | - | 8,655 |
| Legal fees | - | 9,905 |
| Freight & handling | - | 6,313 |
| Website | - | 2,405 |
| Depreciation of tangible fixed assets | 200 | 429 |
| 200 | 27,707 | |
| Total resources expended | 203,029 | 194,213 |
| Net (expenditure)/income | (167,751) | 20,227 |
This page does not form part of the statutory financial statements
Page 13