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2022-01-31-accounts

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD Charity Registration Number: 1154529 Company Registration Number : 08344189

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

REPORTING ACCOUNTANTS:

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111

Page 1 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

FOR THE YEAR ENDED 31 JANUARY 2022

CONTENTS Pages
Information of financial Statements : 3
Report of the Executive Committee : 4 - 5.
Statement of responsibilities of the Committee: 6
Independent Examiner's Report : 7
Income and Expenditure Accounts : 8
Statement of Assets and Liabilities : 10
Notes to the Accounts 11 -12.

Page 2 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

FOR THE YEAR ENDED 31 JANUARY 2022

MANAGEMENT COMMITTEE

CHAIR PERSON Mr Ahmed Abdirashid Arshe

GENERAL SECRETARY Ms Zainab Abubakar Mohamed TREASURER Mrs Sahra Mire ADDRESS Ground Floor 167 Cannon Street Road London E1 2LX BANKER HSBC BANK PLC

INDEPENDENT EXAMINER

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111

Charity's Trustees:

Mrs Sahra Mire Mrs Amina Abdi Miss Sherihan Hassan Ms Zainab Abubakar Mohamed Mr Ahmed Abdirashid Arshe Mr Fardous Yusuf Adam

Page 3 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

REPORT OF THE EXECUTIVE COMMITTEE

FOR THE YEAR ENDED 31 JANUARY 2022

The trustees present their report and financial statements for the year ended 31 January 2022 The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing the annual report and financial statements of the Charity.

Legal Status:

Company: Limited by guarantee, company number: 08344189 Charity: Registered with the Charity Commission, Charity Number: 1154529

Directors and their interest:

The following served as directors of the company during the year:

Mrs Sahra Mire

Objects, Principal Activities and Organisation of the Charity

The Charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association AND

The Charity's objects are for the benefit of the inhabitants of London Borough of Tower Hamlets, and in particular members of the Minority Ethnic Communities but exclusively who are in hardship by:

  1. TO DEVELOP THE CAPACITY, SKILLS AND EDUCATION OF THE MEMBERS OF THE DISADVANTAGED COMMUNITY IN TOWER HAMLETS, IN SUCH A WAY THAT THEY ARE BETTER ABLE TO IDENTIFY AND HELP MEET THEIR NEEDS AND TO PARTICIPATE MORE FULLY IN SOCIETY.

  2. ADVANCE EDUCATION AND TO PROVIDE COMMUNITY SERVICES WITH THE OBJECT OF IMPROVING THE QUALITY OF LIFE FOR THE GENERAL PUBLIC IN EAST LONDON

3. TO ADVANCE THE ISLAMIC FAITH FOR THE BENEFIT OF THE PUBLIC IN TOWER HAMLETS

IN PARTICULAR BUT NOT EXCLUSIVELY BY THE PROVISION OF A MOSQUE AND EDUCATION AND CULTURAL CENTRE.

Page 4 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

REPORT OF THE EXECUTIVE COMMITTEE

FOR THE YEAR ENDED 31 JANUARY 2022

Organisation:

A Management Committee, the members of which are both directors and trustees manages the affairs of the company and charity.

The Management Committee manages the business of the company and charity including the paying of all expenses.

Directors and shareholding

The directors do not have any shares in the company, the company being limited by guarantee. There was a change in the directorship of the company during the year under consideration

Trustees:

Trustees, who are all members of the executive committee, and who served during the year are set out on page 3.

The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve until the end of the next Annual General Meeting, where they can stand for re- election as members of the new Executive Committee.

Directors’ / Trustees responsibilities in relation to the financial statements

The directors are required by company law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the directors are required to:

The Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the Trustees are required to:

The Directors / Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011.

The Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

VOLUNTEERS:

The Trustees wish to record their appreciation on behalf of the Charity and community for the volunteers who . assist in the smooth running of the Charity and are critical in helping to keeps the running costs down RISK REVIEW:

The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review resulting in a process of ongoing improvement.

Page 5 of 12

All staff and volunteers are trained and have all the required statutory and regulatory clearances required.

SERIOUS INCIDENTS AND EXCEPTIONS:

The Trustees are pleased to note, that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity’s Exceptions’ Register.

RELATED PARTY TRANSACTIONS:

During the year the Charity was under the control of Trustees and Management Committee members as listed above.

This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies.

INDEPENDENT EXAMINER

According to the provisions of the Charities Act 1993, the Committee has agreed that and audit is not required for this financial year. However due to provisions of the same act an independent examiner is required and AM Accountancy Services appointed as external Accountant or Independent Examiner.

Transaction and financial position

The Statement of Financial Activities shows net surplus for the year of £7,316.00 and our accumulated funds stand at £156,569.00 total.

AM Accountancy Services carried out an independent examination of the accounts included in the report.

This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005.

Approved by the trustees and signed on its behalf by

This report was approved by the Executive Committee on and signed on their behalf.

……………………… Mr Ahmed Abdirashid Arshe (Chair person) Date:

…………………………..

Ms Zainab Abubakar Mohamed (General Secretary) Date:

Page 6 of 12

Accountants’ Report

To the Trustees of ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

FOR THE YEAR ENDED 31 JANUARY 2022

We report on the accounts for the year ended 31 January 2022 set out on pages 8 to 12 which have been prepared under the historical cost convention and the accounting policies set out in note 1 to the financial statements.

Respective Responsibilities of Trustees and Accountants

As described on page 5 the trustees are responsible for the preparation of the financial statements, and they consider that the trust is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you.

Basis of Opinion

We conducted our work in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedures provide only the assurance expressed in our opinion.

Opinion

In our opinion:

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA

Date:

Page 7 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

Statement of Financial Activities (Income & Expense Statement)

FOR THE YEAR ENDED 31 JANUARY 2022

2022
Notes
Unrestricted
Restricted
Total
£
£
£
Incoming Resources
Parents Contribution (Madrasa)
0
0
Membership Fees (Madrassah Enterprise)
15,545
15,545
Office Donations
1,100
1,100
Friday Collections
0
0
All Other General Donations
13,743
13,743
Donations Via Gift Aid & Just Giving
8,108
8,108
Cash Donation
339
339
Service Coordination
0
0
Grant - LBTH (Covid Grant)
0
0
Service Grant
0
0
JRS - Grant (Furlough)
7,752
7,752
Project Delivery
14,800
14,800
Public Health
25,311
25,311
Translating Services
5,721
5,721		 2021
Total
£
21,955
0
8,215
735
17,641
18,632
137
16,000
53,000
5,428
22,152
Total Incoming Resources
44,556
47,863
92,419		 163,895
Resources Expended
Direct Charitable Expenditure
Printing, postage, stationery & Advertisement
701
701
Telephone, fax and photocopies
323
323
Rent, Rates and service charges
3,362
18,111
21,473
Light, Heat and Water
2,666
2,666
Books and Materials
1,907
1,907
Cleaning
339
339
Wages and Volunteer expenses
16,295
29,752
46,047
Events and activities (Project Costs/Donation)
850
850		 861
604
39,510
6,164
2,471
137
39,873
1,500
Direct charitable expenditure
26,443
47,863
74,306		 91,120
Management & Administration Expenses:
Accountancy
1,000
1,000
Bokkeeping Services
350
350
Website hosting
0
0
Zoom costs
1,695
1,695
Management and Admin Costs
1,488
1,488
Just giving fees
216
216
Membership Fee
0
0
Business Plan
3,145
3,145
Building Insurance
191
191
Companies House
40
40
Depreciation
2,091
2,091
Bank and Credit Card Charges
581
581
Repairs/Refurbishments
0
0		 950
400
30
216
250
0
1,392
40
2,459
658
4,115
Management & Administration Expenses:
10,797
10,797		 10,510
Total Resources Expended
37,240
47,863
85,103		 101,630
Net Incoming Resources /
7,316
0
7,316
(resources expended)
Net Movement funds for the
7,316
0
7,316		 62,265

Page 8 of 12

period: Total Funds Brought forward

62,265

149,253 86,988 156,569 149,253

Balance at 31 January 2022

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

Summary Income and Expenditure Account FOR THE YEAR ENDED 31 JANUARY 2022

Notes
Income
Total expenditure
Net Surplus (Deficit) for the financial year		 2022
£
92,419
85,103
7,316

There were no recognised gains other than those included in the Income and Expenditure Account for current year.

Page 9 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

Statement of Assets & Liabilities ( Balance Sheet) As at 31 January 2022

NOTE
Fixed Assets
Fixture, Fittings and Equipments
2
Current Assets
Cash at Bank & in Hand
Current Liabilities
Amount falling due to one year
Accruals
4
NET CURRENT ASSETS / (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS: Brought Forward
5
Excess/(Deficit) of income over expenditure
Total Funds		 2022
£
11,846
145,888		 £
11,846
144,723
145,888
1,165
156,569
149,253
7,316
156,569

The financial statements were approved by the Executive Committee and signed on their behalf:

………………………….. ………………………….. …………………………… Mr Ahmed Abdirashid Arshe Ms Zainab Abubakar Mohamed Mrs Sahra Mire (Chair person) (General Secretary) (Treasurer) Date: Date: Date:

The Notes on pages 10 to 12 form part of the financial statements.

Page 10 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

FOR THE YEAR ENDED 31 JANUARY 2022 NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

a. Basis of Accounting

Basis of accounting The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value.

The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).

b. Grants

Revenue grants are credited to the Income and Expenditure account on a receivable basis.

c. Donations

Donation are recorded on a receipt basis.

d. Incoming Resources

Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors' conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.

e. Resources Expended

Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.

Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.

f. Going Concern Basis

The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate.

g. Administration Costs

Administration expenditure includes all expenditure not directly related to the charitable activity.

h. Depreciation:

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixture, Fitting and Equipment

15 % on Reducing Balance method

Page 11 of 12

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

FOR THE YEAR ENDED 31 JANUARY 2022 NOTES TO THE ACCOUNTS

2. FIXED ASSETS


COST
At 01 February 2021
Fixtures and fittings
Additions
At 31 January 2022
DEPRECIATION
At 01 February 2021
Charge for the year
At 31 January 2022
NET BOOK VALUE
At 01 February 2021
At 31 January 2022		 £
£
£
Fixtures, fittings &
Improvements
Building and
Construction
-
-
13,937
13,937
-
-
-
13,937
-
13,937
-
-
-
2,091
-
2,091
2,091
-
2,091
13,937
-
13,937
11,846
-
11,846

3. Net Surplus of the Financial Year

The excess of expenditure over income is stated after charging:

Accountants' remuneration
Depreciation
4. Creditors and Acruals
Telephone
Accountancy
5. Funds/Capital
Balance at 31 January 2021
Balance at 1 February 2021
Excess/ (Deficit) of Income over Expenditure
Balance at 31 January 2022		 2022
£
1,000
2,091
165
1,000
1,165
£
149,253
149,253
7,316
156,569

Page 12 of 12