The Shi'ah Institute Trustees Annual Report for the period of l May 2021- 30 April 2022
CHARITY NAME Thc Shi'ah Institute REGISTERED CHARITY NUMBER 1153889 COMPANY REGISTRATION NUMBER 08476719 (England and Wal¢s) REGISTERED OFFICE Bloomsbury House 26 Bloomsbury Street London WCIB3QJ TRUSTEES MR RAZA HASSAN (chair) MR SAMI SAYED IUZVI MR MUNAWER FtUSSAIN SHAH
Structurey governanc¢ and m8nagement The charity operates under a trust deed. The declardion of trust was made on the ninete¢nth day of September 2013.Thc current trnstees appointed for The Shi'ah Institute were MR RAZA HASSAN (Chair) MR SAMI SAYED RIZVI MR MUNAIVER HUSSAIN SIIAEI The above trustees are appointed on varying periods to ensure that not all trustees appointment occur5 at the same time. Thereafter every tstee must tK appointrd for a tenn of fiv¢ years by a resolution of thc trustees passed at a spccial meeting. The decision-making process is by voting with the chair having the casting vot¢. A company by the name of The Shi'ah Institute was registered on the eighth day of April 2013. This company is owned by the Charity. FinaDcial review Due to an ongoing fmancial challcnging cnvironmeni the institute finds itself again with a net deficit of £63.724. With the COVID pandemic still impacting our nd raising. The institute h&s had to and increased global uncenainry has cut its staff and mAnimAsed the hours worked. Public benefit statement As we have come out of the COVID pandemic. the Institute has remained closed during this reporting period to ensure the safe wellbeing of our staff. The tnJstc¢s ¢onfirn) that they have compiled with their duty to have due regard to the guidance on public benefit published by th¢ Commission in exercising their powers and dutics. Raza Hassa Chair of the Board of TSte¢S 28 Febwary 2023.
REGISTERED COMPANY iYUMBER'. 08476719 (Ell¥and and Wal¢s) REGISTERED CHARITY NUMBER: 1153889 TEES, REPORT AND NAUDITED FINANCIAL STATEMENIS TrOR THE YEAR ENDED 30 APRIL 2022 FOR THE SHI"AH INSTrruTE Ali K02Émt 16 W¢swn Av£nue Golders Gtttn LoTMIo NWII 9HH
THE SHI"AH IIysfiTUTE CONTF.KtS OF THE FI.NANCIAL STATEMEiYrs FOR THE YEAR ENDED 30 APRIL 2022 Pagt Thistets, Report llldependent Examlller's Rtport Statetyen¢ of Ftffj•cil Aetiwities Balaffjre Sh¢et Notes tts the Financial Ststtments 7 to 12
THE SHI'AH INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 21122 The trUstts who are also diTKtors of the charity for the purtK)5es of the Co¥npanies Art 2006. preseni th¢ir report with the financial statements of the charity for the year eniled 30 April 2022. The tnee5 have adopted the provisions of Aecounting 8nd Reporting by Chariiies: StaTrm¢ni of Recornmended Practice applicable to charitie5 preparing their ac£ounts in aceordance with the Financial Reponing Stsndard applicabl¢ in the UK and liepublic of Ireland (FRS 102} (effe£tive l January 2019}. 0Ec[[vEs AND AcfIviTIL Objeetives Amd aim$ l). Th¢ advanGwv¢nt of th¢ rEligion of Islam in accordw with the principlcs and t¢n¢ts of the Shi'ah lthna'Ashari Muslim faith, in particular but not exclusively by f2cilit2ting and promoting scholarship on Shi ah lthna ' Ashari Islam and funding. earrying out and organising res¢arch, leCre$ 8nd conference5 atKi to publicly dis5eTninate the useful rtsults of su¢h r¢s¢ar¢h. 2). The advancement of education for the public benefit about Shi ah lthna 'A5hari Islam, its herita8e and peqiles through media 5uGh as publicatsons, the internet, university lectures. seminar& conferences and Itr¢S., ACHIEVEMENT AND PERFORcE Charitable activities The ciwity through the staff employed are conducting ongoing research on the Shi ah lthna 'Athari Muslim faith, this will result at a future period in publications for the widerpublic to consume. The key achievement has b¢¢n the acquisition of lease ro an office and the employmall of key individua15 who are high perforniing individuals who will assist in furthering charity objeLts. FINANCIAL REVIEW The results for the year are showrt in the and loss a¢U1 I page 5. STRUCTURE. GOVERNANCE AND MANACEMKNT GoverniDg doeumettt The ¢harity is controlled by its govcrnin8 d(xuTnrt a deed of tru5L and ¢onstittrtes a limited ¢ompaMy, limited by giiarante¢. os d¢fin b) th¢ Companies Ad 2006. REFERENCE AND ADMINisfRATtVE DETAIts Rtysterèd Compakny ber 08476719 {EnglaDd ond WJ]¢$) Registered Charity number 1153889 Registered orrjce Bloomsbury House 26 Blootnsbury Stred London WCIB3QJ Trnstees R Hassan Dr A Shah MA Shah
HI"AH INSTITLrrE TRUSTEES, REPORT FOR THE YEAR ENDED 311 APRtL 2022 REFERENCE AND ADMThISTIL4TIVE DETAIIS Company Secretary Dr A Shah Independent Examlner Ali Kazimi 16 Western Avenue Golde (yretn London NWII 9HH Approved by OTder of the Ix)aTd of trustres on ...........2810212023........ .. . and signed on its behalf by.. R Ha5san- TTUSt¢¢ Pdge 2
INDEPENDENT ELNIlNER's REPORT TO THE TRUSTEES OF THE SHI"AH IF4STITUTE I teP)rt on th¢ bccouots for the y¢ar ¢Ddd 30 April 2022 set out OilP8ges four to fourteen. Respective re5pnn%ihilitie% of trnstees and eiamineT The ch)rity's twsiees Iwho arc also Ihe dire¢iors for th¢ purposes of company law} are re5POllsible for the preparation of the aecounts. The char]ty'S tn]stees eoT*sider rhat an audil is Ttot r4uir¢d for thi$ year {llttder Section 14q21 of the Charitie5 Act ?01 I (the 2011 Act) and Ihar an indepenéeni examination is reqkntred. Having saiisfied myself thai the cha¥iry is nLTri subjeci to audii under company la and i5 ellble for iDdep¢ndenÉ exalnination. il is my responsibtlity to.. ¢xamin¢ the accounts Iwder Sectiots 145 of the 2011 Act io follow the procedure5 laid down in th¢ General DirectioA% given by the Chariry C4)]nmission {under Seetion 145{5Mb) of tlie 2011 Act),. and to state whether p8rti¢ul¥r matters have come to my attention. BasiF of th¢ Indeptndent examiner's report My examination ivas ca2Tied oui in a¢¢ordan¢e wilh the Generdl Directions gii'eD by ihe Charity Commission. An examillation includes a review of the accountiJ)g records kept by the charity aAd a coo4)arisott of the accounts presented with those records. It also intludes xinsideration of aftv unusual ilejns or disclosure5 iti the ac¢oynE& and seeking explanations fro you as itusiees conttMig ally such matters. The proceduTes ndertakert do not provide all the evidence that would be rtquircd in an audsL and con5¢quently no opinion is given as to whether the accounts pr¢5eoi a'true attd fairview, and the report is limited to thos¢ malteTS sei out in the statemenis beloiv. Independent examiner's 5tatemeDt In connection with my examinaiioj). no co1 to my attenttOD: (11 which gives me Teason&ble cause to lIeVe ihaL in any materi•l respeeL ihe requiYemeDts to keep aecouniing records in atcordanee with Section 386 alld 387 of the Compallies Aci ?006.' 3Dd IQ PTepaie accounts which aceord with the accounting rec(Trrds, ¢tsmply with thc accow)ting requirements of Sectjons 394 and 395 of tlie Cotnpanies A¢1 2006 and wilh ih¢ methods and priticiples of the Ac¢ouniinu and Reporting by Char]ties'. Sialement of Recommended Practice applicable to charities preparing their accounts ill occordanc¢ with ihe Financid Reporting Standard appli¢able itt the UK and Republic of IrelaTrd IFRS 102} leff¢ctiYe l January ?0151 bave not been met. or 12} to which. in tny opiIiiots, atteniion sh¢)uld be thawD ID order to r]]abl¢ a pits[ understsnding of the ac¢ounts to b¢ reachd. /L Ali Kaz.itnj 16 Westetn Avenue GoldeT5 Green London NWII 9HH Date.. ..2810212023...... Pa£e 3
THE SHI'AH IN STATEMENT OF FINAP4CIAL ACTIVITIF.S FOR THE YLAX EIYDED 30 APRIL 2022 30.4.22 Unrestri¢t¢d fund 30.4.21 Total funds INC.OME AfqD ENDOWMENfs FROM Donations and legacies Government grants 51.495 21,87S 79,150 71,737 EXPENDITURK O Raising funds Other 71.196 Total 71.196 137,060 NET INCOMEI(EXPENDITURE) 2.174 13.827 RECONCILIATION OF FUNDS Total nd$ broughi forward (05,898) (79,725) TOTAL FUNDS CARRiED FORWARD 63 7241 The llotes fo[ part of these finan¢ial 5¢atern¢nts Page 4
THE SHI'AH INSTITUTE BALANCE SHEET 30 APRIL 2022 30.422 Unr¢stri¢d fund 30.4.21 Total fund5 FIXED ASSETS Tan8ible Sets 3,946 5,261 CURRENT ASSETS Skncks Debtors Cash at bank 12.254 30290 668 12,154 16.750 5.478 43.112 34J82 CREDITORS Amounts falling due within one year (110,782) (105,541) NET CURRENT ASSF.TSI(I.IABII.ITIFS) 71.159 TOTAL ASSETS LESS CURREKf LIABILITIES (63.724) (65,898) NKT ASSETS 63.724 65 898) Unrestricted fimds 63.724) 65.898) TOTAL FUNDS 65.898) The charitable company is entitled to exemption fmm audit undcr sClon 477 of th¢ Companies Ad 2006 for the year ¢nd¢d 30 April 2022. The membe[5 have not required th¢ wmpany to olrtain an audit of its finlat statements for th¢ year ended 30 April 2022 in accordance with Section 476 of the Compani&s Act 20(. The trustees a¢knowl¢d¥e th¢ir r¢sponsibiliti¢s for (a} ensuring that the ch3ritsble company keeps accounting records that comply with Sections 386 and 387 of the Companies A 2006 and preparin8 ftnancial ststements which 8ive a twe and fair view of the state of affairs of the charrtable company as at the end of each financial year and of its surplus or defictt for each finamaal year in accordance the requirements of Sections 394 and 395 and which othetlvise compl}. with tl Tequir&nents of the Comp#nies Ad 21Y)6 relattng to finan¢ ststemenls so as applicable to the charitable ¢omp3ny_ (b) The notrs form part ofthe5¢ finan¢1 swements Page 5 continued...
HE SHI'AH INSTITUTE BALANCE SHEET- colltined APRIL 2022 These financial Staternts have Eten prepared in accorthL% Wtth the provistons applicable to charitable companies subject to the small compatsies regime. The finan¢ial sMentS were approv¢d by the Board of Trusiees and authr for issue on . signed on its behalf by.. ..2810212023.......... w¢r¢ R Hasson- Tn]stee The notes form part of th¢5¢ financial STatats Page 6
THE SHI'AH INSTITtrrE NOTF.S TO THE FINANC.I.4L STATEMEY13 FOR T14E YEAR ENDED30 APRIL 2022 AccouNfiNG POLICIES BASIS OF PREPARING THE FIP4ANCIAL STATEMENTS The financial sÈateTnents of the charitsbl¢ company. which is a pub]ic benefit entity under FRS 102, haye been prepared in ac¢ordan¢¢ with the Chariti&s SORP (FRS 102)'Accouniin8 and lieporting by Chariti¢S: S(&iement of Recommended Pr&ctic¢ applicable to charities pparIng their accounts in a¢cordaJKe with th¢ FinarKiai R¢p)rting Stat]daTd wpli¢abl¢ in the UK and Republic of Ireland (FRS 102) leffe¢tiv¢ l January 20191,. Financial Reponing Standard 102 The Financial Reporting Stand8rd appli¢abl¢ in th¢ UK and R¢publi¢ of Ir¢land' and the Companies Art 2¢M)6. The financial statements have been prepared under th¢ historica] cost eonventioll. COL All income És recognised tn the staterne of Financtal A¢ivTties once the charity has tIement to the fimds li is probable that the income will be r¢ceiYed and the amount Can be Mer reliably. EXPENDITURE LiabilitS¢S are o¥n1$ed as exnditUre &s 5(th as there is a legal or constructive obligatjon ¢ommittit)g the charity to that expenditure. st is pmbable that a transfer of economic benefits will be required in settlement and the amount of the obligation ¢an b¢ measured reliably. Expenditure ts accounted for on an a¢¢nd$ basis and been elassified [de¥ headings that &ggregat¢ ail cost related to the trgOry. Where costs caiinot be direc41y attributed to pwti¢u18r headings they have been allocaled to activities on a b&sis ¢¢)nsisLent with the use of resourc. TANCIBLE VIXED ASSF,TS Dcpreciaiion is provid¢d at thc followin8 aTmual rates in order to v]te off each assct ovcr its estKm8t¢d us¢fid lif¢. STOCKS Stocks are valued at th¢ lower of cost and net rfalisable valuA aftet nJakin8 due albwance for obsol¢te 8nd slow movit)8 items. TAXATION Th¢ oharity is ex¢mpt from c(wration tsx ijn its ¢haritable activiiies. FUND ACCOUNTll%G UrtrId funds can be used in with the charitable objcr11v at th¢ discretion of the tr$. Restricted fvnds can only be used fry p3rtiLyJlar restric1 purtx)ses within the objects of the charity. Re51tirtions aris¢ whcn specified by the donor (Y when funds are fdisl for particular restricted purrK)ses. Furth¢r ¢xplanation of the nature and pUrP of each nd is itluded in the notrs ty the fin8nei81 statements. HIRE PURCHASE AL¥D LEASING comMENTs Rentals paid under Opating leas¢s are charged to the stsiement of Financial Activities on a straight line basis over the period of the lease. PENSION COS73 AND OTHER POST-RETiRbMENf BENEFITS The charitsble compaDy operntes a defin¢d contribution 5]Qn scherne. Contributi¢)ns payable io the ¢haritabl¢ Company's pension scheme a ch3rged to the St*ement of Finaneial Aaiviiies in ihe period to which tlKy rel&e. Continu..
THE SHfAH INSTITufE NOTES'fO THF. FINAh"CIAL STATEMENTS-tODtinued DR I'HL YLAR Ef4DED 30 APRiL 2022 NET INCOMEJ(EXPENDITURE) Net in¢omd(exnd1tUre) is stated after chargingl{craliting).' 30.422 30.4.21 Depreciation- owned 8&%ets Other oper]ng le4ses .315 16.875 1.753 24,904 'rRUSTLES' REMUNERATION AND BLNETr ITS There were no trustees, reuneratiOn or other benefits forthe year end130 April 2022 nor forth¢ y¢ar ended 30 April 2021. TRUSTEFS, KXPEf¥SES There were no knjstees, expenses paid for the vear ended 30 April 2022 Mr for the year end 30 April 2021. COMPARATIVES FOR THE STATEMEIYT OF FINANCLIL AcfivITIES Unresirided fund INC.OTrtE AND F.NDOWMENTS FROM Donations and Ia¢le$ Government grants 79.150 71,737 EXPENDITURE ON Paising fund5 Tol21 137,060 NET INCOMEI{EXPF.NDrfuRE) 13,827 RECONCILIATION OF FUNDS Total funds brnught lonrd (79.725} T(yfAL FUNDS CARRIED FORWARD 65.8981 Page 8 ntinu¢d...
NOTES TO THE FINANCI.4L STATEMETrrrs- t•xtiDutd FOR THE YEAR ENDED 30 APRIL 2022 TANGIBLE FIXED ASSETS Co]nput¢r equipment fittill8S Totals COST At l May 2W21 and 30 April 2022 DEPRECIATION At l M2y2021 Charge for ycar 22.418 881 8,787 434 31,205 1,315 AI 30 April 2022 23.2 NET BOOK VALUE At 30 April 2022 1.302 At 30 April 2021 3,525 30.4.22 30.4.21 Stocks 12.154 DEwfoiLS: Amoufws FALLING DUE WITHIN ONE YEAR 30.4.22 30.4.21 Other debtors 30,290 Page9 continued...
THE SHI'AH INSTITrE NOTES TO THF. FINANCIAL STATEMETr413- contiRued FOR THE IEAR ENDED30 APRIL 21122 CREDYfORS: AMouNfs FALLING DUE WITHIN ONE YEAR 30.4.22 30.4.21 Swi8] secwity and (ther tsxes Other CditorS Pensaon Payable Net wage5 35.540 36,500 5,760 32,982 32.038 32,710 5,304 35.489 110.782 105.541 MOVEMENT IN FUNDS Net movemeni fvnds At 30.4.22 At 1.5.21 Unrestritted td& Gcn¢ral fund (65,898) 1174 (63,724) TOTAL FUNDS 65.899 Net movement in fill, in¢luda in th¢ atrK)ve are &s follow5: Incomin8 Resources expended Movem¢nt in funds Unrestricted fundi General fund 73370 (71.196) 2.174 73J70 Comparatives for movemetst i* f•Dds Net movemellt in funds At 30.4.21 At 1.5.20 UDrestricted fvnds Gener&i fiuKI (79.725) 13.827 {65,S98) TOTAL FUNDS 13.827 65,899 Pag¢ 10 ¢ontinual...
SHI'AH INSTrwrE TES TO THE FINANCIAL STATEMEYTS- eontinved FOR THE YEAR ENU)ED 30 AP MOVEMENT IN FUNDS- contiTh•¢d Compar*iv¢ nd movement An included the above ar¢ &8 follo. Incoming resoure¢s Movement in funds expended UDrestricted fuDds Genenl fund 150.887 (137.(160} 13,827 TOTAL FUNDS 150887 137 060) 13.827 A ¢urrent year 12 months and prioryear 12 months combined p)sition is as follows: Net movemenl in funds At 30.4.22 At 1.5.21 UDr¢$tri¢ted funds Gener fund (79,725) 16,(H)I (63,724) TOTAL FUNDS 79.r26 16.(M)I 63,725) A current year 12 nMTrnths ond prior yvdr 12 months combined net movement in fund4 included in the aEKJve are as follows.. Rwurc¢s exp¢nded Mov¢m¢nt in funds Ullrestrltted funds General fijnd 224257 (208256) 16,Wl TOTAL FUNDS 208 256 Page 11 continued..
THE SIII'AH INSTITUTE 40Tb.S'l'O TFIL "[NANCIAL S A"IEMEYTS- eontin OIiTHE YEAR ENDED30 APRIL 2 22 io. RELATED PARTY DISCiDSURLS There were Tr) relat¢d party transaetions for the year ¢Dd¢d 30 April 2022.