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← Ashaadibi Education & Cultural Centre

2024-01-31-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 2024

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 2024

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 2024

MANAGEMENT COMMITTEE

CHAIR PERSON

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 Ms Zainab Abubakar Mohamed Mr Ahmed Abdirashid Arshe Mr Fardous Yusuf Adam

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

REPORT OF THE EXECUTIVE COMMITTEE

Page 3 of 12

FOR THE YEAR ENDED 31 JANUARY 2024

The trustees present their report and financial statements for the year ended 31 January 2024 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:

Mr Ahmed Abdirashid Arshe

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.

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

REPORT OF THE EXECUTIVE COMMITTEE

Page 4 of 12

FOR THE YEAR ENDED 31 JANUARY 2024

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.

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

Page 5 of 12

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 £2,950 and our accumulated funds stand at £164,248 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:

Accountants’ Report

To the Trustees of

Page 6 of 12

FOR THE YEAR ENDED 31 JANUARY 2024

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

We report on the accounts for the year ended 31 January 2024 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:

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD Statement of Financial Activities (Income & Expense Statement)

Page 7 of 12

FOR THE YEAR ENDED 31 JANUARY 2024

2024
Notes
Unrestricted
Restricted
Total
£
£
£
Incoming Resources
Membership Fees (Madrassah Enterprise)
29,387
29,387
Other Donations
4,159
4,159
Mosque Donations
31,001
31,001
All Other General Donations
Donations Via Gift Aid & Just Giving
5,626
5,626
Cash Donation
545
545
Aim Higher - Youth Project Funding
7,500
7,500
Mayor Funds
15,618
15,618
Services Delivery
14,000
14,000
Public Health Funding
9,000
9,000
Translating Services
0
0		 2023
Total
£
19,211
0
27,623
0
7,938
654
24,000
0
27,000
0
135
Total Incoming Resources
84,718
32,118
116,836		 106,561
Resources Expended
Direct Charitable Expenditure
Printing, postage, stationery & Advertisement
704
704
Telephone, fax and photocopies
439
439
Rent, Rates and service charges
41,878
41,878
Light, Heat and Water
3,756
3,756
Books and Materials
2,616
2,616
Cleaning
653
653
Capacity Building
394
394
Wages and Volunteer expenses
24,219
32,118
56,337
Events and activities (Project Costs/Donation/Facilities)
2,597
2,597		 776
431
41,897
2,879
3,694
653
38,531
5,840
Direct charitable expenditure
77,256
32,118
109,374		 94,701

Management & Administration Expenses:
Accountancy
1,150
1,150
Bokkeeping Services
0
0
Website hosting
177
177
Zoom costs
444
444
Management and Admin Costs
0
0
Just giving fees
216
216
Insurance
321
321
Business Plan
0
0
Other costs
35
35
Companies House
40
40
Depreciation
1,510
1,510
Bank and Credit Card Charges
81
81
Repairs/Refurbishments
538
538		 1,150
0
60
571
0
216
578
1,150
0
40
1,777
89
1,500

Management & Administration Expenses:
4,512
4,512		 7,131


Total Resources Expended
81,768
32,118
113,886		 101,832
Net Incoming Resources /
2,950
0
2,950
(resources expended)
Net Movement funds for the
2,950
0
2,950
period:
Total Funds Brought forward
4,729
161,298		 4,729
156,569
Balance at 31 January 2024
164,248		 161,298

ASHAADIBI EDUCATION AND CULTURUL CENTRE LTD

Page 8 of 12

Summary Income and Expenditure Account FOR THE YEAR ENDED 31 JANUARY 2024

FOR THE YEAR ENDED 31 JANUARY
 2024
Notes
Income
Total expenditure
Net Surplus (Deficit) for the financial year		 2024
£
116,836
113,886
2,950

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)

Page 9 of 12

NOTE
Fixed Assets
Fixture, Fittings and Equipments
2
Current Assets
Other Debtor (Grant)
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 2024		 2024
£
£
8,559
8,559
28333
128,808
157,141
1,452
155,689
164,248
161,298
2,950
164,248		 2024
£
£
8,559
8,559
28333
128,808
157,141
1,452
155,689
164,248
161,298
2,950
164,248
157,141
1,452
164,248
161,298
2,950
164,248

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 2024 NOTES TO THE ACCOUNTS

Page 10 of 12

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 2024 NOTES TO THE ACCOUNTS

Page 11 of 12

**2. ** FIXED ASSETS
COST
At 01 February 2023
Fixtures and fittings
Additions
At 31 January 2024
~~DEPRECIATION~~
At 01 February 2023
Charge for the year
At 31 January 2024
NET BOOK VALUE
At 01 February 2023
At 31 January 2024		 £
£
£
Fixtures, fittings &
Improvements
Building and
Construction
-
-
10,069
10,069
-
-
-
10,069
-
10,069
-
-
-
1,510
-
1,510
1,510
-
1,510
10,069
-
10,069
8,559
-
8,559

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 2023
Balance at 1 February 2023
Excess/ (Deficit) of Income over Expenditure
Balance at 31 January 2024		 2023
£
1,150
1,510
302
1,150
1,452
£
161,298
161,298
2,950
164,248

Page 12 of 12