Registered Charity Number 1154821
Markaz Quba
Trustees Report and Accounts
For The Year Ended
31st March 2024
Markaz Quba Report and accounts Contents
| Page | |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' responsibilities | 4 |
| Accountants' report | 5 |
| Summary of Receipts and Payments | 7 |
| Statement of Assets & Liabilities | 9 |
| Notes to the accounts | 12 |
| Detailed Analysis of Receipts and Payments | 13 |
Markaz Quba Charity Information
Trustees
Mohammed Chaudhry Sumayyah Scott Mohammad Hussain
Accountants
Iftikhar Habib Lock Studios 7 Corsican Square London
E3 3YD
Bankers
Barclays Bank PLC
Registered office
Unit 301 Lock Studios 7 Corsican Square London E3 3YD
Registered number
1154821
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Markaz Quba
The report of the trustees for the year ended 31 March 2024
Introduction
The trustees present their annual report and accounts for the year ended 31st March 2024.
The board of trustees are satisfied with the performance of the charity during the year and the position at 31st March 2024 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
Name, registered office and constitution of the charity
The full name of the charity is Markaz Quba.
The legal registration details are :-
Date of formation 2nd December 2013 The Principal Office is Unit 301 Lock Studios, 7 Corsican Square, London E3 3 Charity Registration Number 1154821 The telephone number is 07572523182
Objectives and Activities of the Charity
A summary of the objects of the charity as set out in its governing document.
The charity’s objects (‘the objects’) are (1) The advancement of the Islamic religion including religious education for the benefit of the public.
(2) To advance education for the public benefit of young people in Nepal.
(3) To promote and protect good health for the public benefit of people in Nepal.
(4) The prevention or relief of poverty for the public benefit in the Himalayan region as the trustees shall determine.
Public benefit that is provided by the charity
Religious, Educational, Humanitarian activities are carried out by Markaz Quba such as school projects, water project, feeding the poor projects for the public benefit of Nepal and the Himalayan region
Achievements and Performance of the Charity
A review of charitable activities undertaken by the charity
Markaz Quba has been providing poverty relief mainly across Nepal and the Himalayan region by donating funds towards feeding the poor, providing nutritious food and water, healthcare and continued education for young children. The charity has helped fund and maintain a boys and girls school for young people in Nepal.
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Markaz Quba
The report of the trustees for the year ended 31 March 2024
Summary of the main achievements of the charity during the year
Markaz Quba has contributed to various causes over the year, a list of its main achievements is as follows:
Feeding the poor and needy School for boys and girls Building water wells Women's sewing workshops Sewing machines for women graduating from sewing workshops Ramadhaan hamper Zakaatul-Fitr
Structure, Governance and Management
Nature of the Governing Document and constitution of the charity
The Charity is an unincorporated charity and governed by its own Foundation constitiution. The trustees have overall control and responsibility for policy and major decision making.
Markaz Quba runs a 100% donations policy, where your donation is used for serving those in need, not administrative nor overhead costs; which are either covered by direct donations themselves or by using Gift Aid
The methods adopted for the recruitment and appointment of new trustees
Other than the Trustees and those persons connected with them there are no individuals who are related parties. Details of transactions with related parties are shown in the notes to the accounts. This includes remuneration and expenses paid to Trustees. The Trustees are appointed at the Charity’s Annual General Meeting. Any casual vacancy arising during the year is filled by co-option of a person onto the board; that person is then duly elected at the subsequent Annual General Meeting.
No third party has a right to appoint a Trustee.
Financial Review
Policies on reserves
The trustees have resolved to establish reserves to provide for future activities, and to provide funding for the expected expenditure for six months ahead in the sum of £10,000.
The members of the Board of Trustees of the Charity during the year ended 31st March 2024 were :-
Mohammed Chaudhry Sumayyah Scott Mohammad Hussain
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Markaz Quba
The report of the trustees for the year ended 31 March 2024
The members of the Board of Trustees of the Charity at the date the report and accounts were approved were:-
Mohammed Chaudhry Sumayyah Scott Mohammad Hussain
Independent Examiner
Iftikhar Habib Accountant Lock Studios 7 Corsican Square London E3 3YD
Statement of Trustees' Responsibilities
The Charities Act requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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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 business.
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state whether applicable accounting standards and statements of recommended practice have been followed , subject to any material
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departures disclosed and explained in the financial statements;
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act. 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.
The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 11 June 2024.
Mohammed Chaudhry Trustee
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Markaz Quba
Independent Examiner's Report to the trustees of the charity
Report of the Independent Examiner to the trustees on the accounts of the Charity for the year ende31 March 2024
I report on the financial statements of the Charity on pages 7-13 for the year ended 31st March 2023 which have been prepared on a Receipts and Payments basis. A Receipts and Payments basis does not account for debtors, creditors, accruals and prepayments, but such a presentation is permitted by law for smaller charities.
Respective responsibilities of trustees and examiner
As described on page 4 , the Charity's trustees are responsible for the preparation of the accounts. The trustees are satisfied that the audit requirement of Section 144(1)) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the accounts be subject to independent examination.
Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-
a) examine the accounts under section 145 of the Act;
b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5))(b) of the Act; and;
c) to state whether particular matters have come to my attention.
Basis of opinion and scope of work undertaken
I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts , and seeking explanations from you as trustees concerning such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the accounts, and in particular, I express no opinion as to whether the accounts give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters.
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Independent Examiner's Statement, report and opinion
Subject to the limitations upon the scope of my work as detailed above , in connection with my examination , I can confirm that this is a report in respect of an examination carried out under section 145 of the Act and in accordance with any directions given by the Commission under subsection (5)(b) of that section which are applicable;
and that no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements
(i) to keep accounting records in accordance with section 130 of the Act;
(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act ;
have not been met; or
to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached;
Iftikhar Habib Accountant Lock Studios 7 Corsican Square London E3 3YD
The date upon which my opinion is expressed is :-
11/06/2024
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Markaz Quba
Statement of Receipts and payments for the year ended 31 March 2024
| Revenue Receipts General Donations received Zakat Donation received Total Revenue Receipts Payments Total Revenue Payments Total Payments Net Receipts Net Surplus Total Receipts from all sources Preparation of annual accounts Payments relating directly to charitable activities Water Well Donations received |
Unrestricted Restricted Total Last Year Funds Funds Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 76,641 - 76,641 59,383 - - - - - - 76,641 - 76,641 59,383 76,641 - 76,641 59,383 52,673 - 52,673 58,435 894 - 894 876 53,567 - 53,567 59,311 53,567 - 53,567 59,311 23,074 - 23,074 72 23,074 - 23,074 72 |
|---|---|
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Markaz Quba
Statement of Assets and Liabilities as at 31 March 2024
| Cash funds Surplus on Receipts and Payments Account Cash and bank balances at the end of the year Cash and bank balances at start of year |
Unrestricted Restricted Total Last Year Funds Funds Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 19,724 - 19,724 (18,737) 23,074 - 23,074 72 42,798 - 42,798 (18,665) |
|---|---|
Mohammed Chaudhry Trustee Approved by the board of trustees on 11 June 2024
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Markaz Quba
Analysis of Receipts and Payments for the year ended 31 March 2024
| Receipts General Donations Payments relating directly to charitable activities General administrative expenses: Software Bank charges Other support costs General Project Ramadan Project Mosque Project Water Well Project Total Support costs Accountancy costs in preparing annual accounts Independent Examiner's Fees Total governance costs |
Unrestricted Restricted Total Prior Period Funds Funds Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 76,641 76,641 47,229 144 - 144 144 499 - 499 791 643 - 643 935 36,530 - 36,530 12,500 7,500 - 7,500 15,000 - - - 5,000 8,000 - 8,000 25,000 52,030 - 52,030 57,500 52,673 - 52,673 58,435 894 - - 876 - - - - 894 - - 876 |
|---|---|
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Markaz Quba Notes to the Accounts for the year ended 31 March 2024
1 The nature and purpose of each fund
The funds have been separated in accordance to the projects carried out by Markaz Quba
2 Statement that no remuneration was paid to a trustee or any persons connected with them
No remuneration was paid to any trustee or any person connected with a trustee.
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