ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD Charity Registration Number: 1154529 Company Registration Number : 08344189
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
REPORTING ACCOUNTANTS:
AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111
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ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
FOR THE YEAR ENDED 31 JANUARY 2023
| 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. |
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ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
FOR THE YEAR ENDED 31 JANUARY 2023
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
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ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 JANUARY 2023
The trustees present their report and financial statements for the year ended 31 January 2023 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:
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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.
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ADVANCE EDUCATION AND TO PROVIDE COMMUNITY SERVICES WITH THE OBJECT OF IMPROVING THE QUALITY OF LIFE FOR THE GENERAL PUBLIC IN EAST LONDON
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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.
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ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 JANUARY 2023
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:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and accounting estimates that are reasonable and prudent;
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Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
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.
All staff and volunteers are trained and have all the required statutory and regulatory clearances required.
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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 £4,729 and our accumulated funds stand at £161,298.00 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:
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Accountants’ Report
To the Trustees of ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
FOR THE YEAR ENDED 31 JANUARY 2023
We report on the accounts for the year ended 31 January 2023 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:
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(a) The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities;
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(b) Having regard only to, and on the basis of, the information contained in those accounts:
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(1) The accounts have been drawn up in a manner consistent with the accounting requirements specified the Statement of Recommended Practice – Accounting and Reporting by Charities, and
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(2) The charity satisfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act.
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(3) This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee.
AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA
Date:
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ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD Statement of Financial Activities (Income & Expense Statement) FOR THE YEAR ENDED 31 JANUARY 2023
----- Start of picture text -----
2023 2022
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Parents Contribution (Madrasa)
Membership Fees (Madrassah Enterprise) 19,211 19,211 15,545
Office Donations 1,100
Mosque Donations 27,623 27,623 0
All Other General Donations 13,743
Donations Via Gift Aid & Just Giving 7,938 7,938 8,108
Cash Donation 654 654 339
Aim Higher - Youth Project Funding 24,000 24,000 0
JRS - Grant (Furlough) 7,752
Services Delivery 27,000 27,000 14,800
Public Health 25,311
Translating Services 135 135 5,721
Total Incoming Resources 82,426 24,135 106,561 92,419
Resources Expended
Direct Charitable Expenditure
Printing, postage, stationery & Advertisement 776 776 701
Telephone, fax and photocopies 431 431 323
Rent, Rates and service charges 41,897 41,897 21,473
Light, Heat and Water 2,879 2,879 2,666
Books and Materials 3,694 3,694 1,907
Cleaning 653 653 339
Wages and Volunteer expenses 14,396 24,135 38,531 46,047
Events and activities (Project Costs/Donation/Facilities) 5,840 5,840 850
Direct charitable expenditure 70,566 24,135 94,701 74,306
Management & Administration Expenses:
Accountancy 1,150 1,150 1,000
Bokkeeping Services 0 0 350
Website hosting 60 60 0
Zoom costs 571 571 1,695
Management and Admin Costs 0 0 1,488
Just giving fees 216 216 216
Insurance 578 578 0
Business Plan 1,150 1,150 3,145
Building Insurance 0 0 191
Companies House 40 40 40
Depreciation 1,777 1,777 2,091
Bank and Credit Card Charges 89 89 581
Repairs/Refurbishments 1,500 1,500 0
Management & Administration Expenses: 7,131 7,131 10,797
Total Resources Expended 77,697 24,135 101,832 85,103
Net Incoming Resources / 4,729 0 4,729 7,316
(resources expended)
Net Movement funds for the 4,729 0 4,729
period:
Total Funds Brought forward 7,316 156,569 149,253
Balance at 31 January 2023 161,298 156,569
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ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
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Summary Income and Expenditure Account FOR THE YEAR ENDED 31 JANUARY 2023
| Notes Income Total expenditure Net Surplus (Deficit) for the financial year |
2023 £ 106,561 101,832 4,729 |
|---|---|
There were no recognised gains other than those included in the Income and Expenditure Account for current year.
ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
Statement of Assets & Liabilities ( Balance Sheet)
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| 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 As at 31 January 2023 |
2023 £ 10,069 152,549 152,549 1,320 |
£ 10,069 151,229 161,298 156,569 4,729 161,298 |
|
|---|---|---|---|
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.
ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
FOR THE YEAR ENDED 31 JANUARY 2023 NOTES TO THE ACCOUNTS
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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
ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD
FOR THE YEAR ENDED 31 JANUARY 2023
NOTES TO THE ACCOUNTS
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2. FIXED ASSETS
COST At 01 February 2022 Fixtures and fittings Additions At 31 January 2023 DEPRECIATION At 01 February 2022 Charge for the year At 31 January 2023 NET BOOK VALUE At 01 February 2022 At 31 January 2023 |
£ £ £ - - 11,846 11,846 - - - 11,846 - 11,846 - - - 1,777 - 1,777 1,777 - 1,777 11,846 - 11,846 10,069 - 10,069 Fixtures, fittings & Improvements Building and Construction |
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3. Net Surplus of the Financial Year
The excess of expenditure over income is stated after charging:
| Accountants' remuneration Depreciation Creditors and Acruals Telephone Accountancy Funds/Capital Balance at 31 January 2022 Balance at 1 February 2022 Excess/ (Deficit) of Income over Expenditure Balance at 31 January 2023 |
2023 £ 1,150 1,777 170 1,150 1,320 £ 156,569 156,569 4,729 161,298 |
|---|---|
4. Creditors and Acruals
5. Funds/Capital
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