Charity registration number: 1155025
Paradise RIDA School Trust
Trustees' report and financial statements for the year ended 31 August 2022
Paradise RIDA School Trust
Contents
Legal and administrative information
| Page | |
|---|---|
| Legal and administrative information | 2 |
| Trustees' report | 3 |
| Independent examiner's report | 5 |
| Statement of Financial activities | 6 |
| Balance Sheet | 7 |
| Notes to the financial statements | 8 |
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Paradise RIDA School Trust
Legal and administrative information Charity registration number 1155025 Company registration number 08004087 Charity address 1 Bretton Street, Savile Town Dewsbury WF12 9BB Trustees A A Patel A Mitha A Patel H Khatib I Dalal N Patel R A Yusuf Y Gajra Y Patel Yusuf Patel Accountants AHM Chartered Accountants & Business Advisors The Beeches 20 Ring Road Shadwell Leeds, LS17 8NJ Bankers Santander Bootle Merseyside L30 4GB
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Paradise RIDA School Trust
Report of the trustees for the year ended 31 August 2022
The trustees present their report and the financial statements for the year ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the charity's governing document and applicable law.
Structure, Governance and Management
Paradise RIDA School Trust is a registered UK charity, incorporated as a company on 23 March 2012, company number 08004087, limited by guarantee and registered as a charity on 16 December 2013 under charity number 1155025. The governing document are its Articles of Association.
The Trustees who served during the year up to the date this report are set out on page 2. The trustees have the power to appoint any person to be a trustee in accordance with the provisions of the company's articles. An appointed trustee holds office within the limits permitted by law.
The folowing trustees were appointed during the year:
Afsana Patel appointed 01 May 2022 Ayub Mitha appointed 01 May 2022 Rizwan Yusuf appointed 01 May 2022 Yunus Gajra appointed 01 May 2022 Yusuf Patel appointed 01 May 2022
Objectives and activities
The objectives of the trust, as set out in its governing document are:
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To advance education of young people through the establishment and maintenance of an educational facility / facilities.
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To advance education for the public benefit about Islam through the holding of meetings, lectures and gatherings.
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For the benefit of the public, to promote learning for pleasure by people no longer in full time education through continued development of their capabilities and understanding of subjects of educational value.
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To assist in efforts to relieve poverty at a local, national and international level by providing support and assistance to those who are in need of help.
Achievements and performance
During the year, the orgainisation came together with some other local schools to form an enlarged entity. Following this coming together, 'RIDA' was incorporated into the charity name and the enlarged organisation is now known as 'PARADISE RIDA SCHOOL TRUST '. As detailed above, several new trustees were also appointed following the merger.
The charity has:
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Continued to provide our premises at a subsidised cost or nil cost to local community groups;
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Supported other charities by helping them to meet their objectives at no cost to them;
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Raised awareness of deprivation at a local, national and international level;
Principal risks and mitigations
The trustees have undertaken an assessment as to whether the charity remains a going concern as at the date of the financial statements approval. The detailed assumption has been based on cash flow forecasts prepared for at least twelve months from the date of signing the financial statements. Scenario planning by modelling a number of different outcomes for the charity over the same twelve month period has also been undertaken. The trustees are confident that the charity is in sound financial position with adequate reserves of £140,877 to continue in operational existence for the forseseeable future.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Laws applicable to charities in England and Wales requires the trustees to prepare financial statements for each calendar year which give a true and fair view of charity and of incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
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select suitable accounting policies and apply them consistently
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observe the methods and principles in the Charities SORP
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makes judgements and estimates that are reasonable and prudent
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements 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 operation.
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Paradise RIDA School Trust
Independent examiner's report to the trustees of Paradise RIDA School Trust ("the Company")
I report to the charity trustees on my examination of the accounts of Paradise RIDA School Trust for the year ended 31 August 2022 set out on pages 6 to 10.
Responsibilities and basis of report
As the charity’s trustees of the Company, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Waheed Ahmad BSc ACA
Institute of Chartered Accountants in England and Wales
AHM
The Beeches 20 Ring Road Shadwell
Leeds
LS17 8NJ Date: 30 May 2023
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Paradise RIDA School Trust
Statement of Financial Activities for the year ended 31 August 2022
| Notes Income Voluntary Income: Donations 2 Activities for generating funds 3 Total Income Expenditure Expenditure on Charitable activities 4 Total Expenditure Net movement in funds Total funds brought forward Total funds carried forward Cost of activities in furtherance of the charity's objects Net (Deficit) / Income for the year |
Unrestricted Funds 72 476,189 476,261 - 565,256 565,256 (88,995) (88,995) 229,872 140,877 |
Restricted 2022 Funds Total - 72 - 476,189 - 476,261 - - - 565,256 - 565,256 - (88,995) (88,995) - 229,872 - 140,877 |
2021 Total 1,077 484,121 |
|---|---|---|---|
| 485,198 | |||
| - 432,266 |
|||
| 432,266 | |||
| 52,932 | |||
| 52,932 176,940 |
|||
| 229,872 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 8 to 10 form an integral part of these financial statements
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Paradise RIDA School Trust
| Balance Sheet as at 31 August 2022 | ||
|---|---|---|
| Notes Fixed assets 8 Current Assets Debtors 9 Cash at bank and in hand Creditors: Amount falling due within one year: 10 Net Current Assets Total Assets less Current Liabilities 11 Net Assets Funds: Unrestricted funds 12, 13 Total Funds Creditors: Amount falling due after more than one year: |
2022 £ 16,954 157,759 3,722 161,481 28,558 132,923 149,877 9,000 140,877 140,877 140,877 |
2021 £ 23,042 159,146 56,462 |
| 215,608 4,778 |
||
| 210,830 | ||
| 233,872 4,000 |
||
| 229,872 | ||
| 229,872 | ||
| 229,872 |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
A A Patel Date: 30 May 2023
The notes on pages 8 to 10 form an integral part of these financial statements
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Paradise RIDA School Trust
Notes to the financial statements for the year ended 31 August 2022 1. Accounting Policies: The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. (a) Basis of preparation The financial statements have been prepared under the historical cost convention. The financial statements of the charitable company, which is a public benefit entity under FRS 102, had been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, (FRS 102) (effective 1 January 2015), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. (b) Fund accounting General funds are unrestricted funds which are available for the use of discretion of the trustees in furtherance of the general objectives of the charity and has not been put aside for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions which has been raised by the charity for a specific purpose. The cost of raising and administering such funds are charged against the specific fund. (c) Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to the particular categories of income. Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value of the charity where it can be quantified. The value of services provided by volunteers has not been included.
(c) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated to such activities and those costs of an indirect nature necessary to support them. (d) Going concern The principle risk facing the charitable company is its ability to generate sufficient income to cover expenditure incurred in fulfilling the objectives of the charitable company. The trustees have reviewed the cash position of the charitable company and cash forecasts at the date of signing the accounts and are satisfied that the charitable company will be able to meet all of its financial commitments. As a consequence the trustees believe that the charitable company is well placed to manage its financial risks successfully despite the current uncertain economic outlook, especially with regard to Covid-19 and that the charitable company has adequate reserves to continue in operational existence for the foreseeable future. Accordingly the trustees continue to adopt the going concern basis in preparing the accounts.
| 2022 | 2021 | |||
|---|---|---|---|---|
| 2. Donations | £ | £ | ||
| Donations from individuals & organisations | 72 | 1,077 |
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Paradise RIDA School Trust
Notes to the financial statements for the year ended 31 August 2022
| 2022 3. Activities for generating funds £ Nursery education funding 218,817 School fees 257,372 476,189 2022 4. Costs of generating funds £ Staff costs 462,528 Supplies 10,477 Repairs and maintenance 14,898 Light and heat 14,300 Rates and Insurance 11,911 Printing, postage and stationary 2,987 Telephone and broadband 5,309 Professional fees 1,896 Depreciation 6,088 Other costs 34,862 565,256 5. Trustees' remuneration Afsana Patel who was appointed trustee during the year was paid £7,000 in her capacity as a staff member (2021: Nil) 6. Staff numbers The average number of employees during the year was as follows: 2022 Charitable and support activities 51 7. Independent examination fees Fees payable to the independent examiner for examination of the financial statements 500 |
2021 £ 233,893 250,228 |
|---|---|
| 484,121 | |
| 2021 £ 326,074 14,620 13,489 8,208 9,955 10,739 5,722 3,599 6,088 33,772 |
|
| 432,266 | |
| 2021 51 300 |
8. Tangible fixed assets
| Cost brought forward Additions in the year At 31 August 2022 Depreciation brought forward Charge for the year At 31 August 2022 Net book value 31 August 2022 Net book value 31 August 2021 9. Debtors Prepayments and accrued income Sundry debtors |
2022 £ 2,081 155,678 |
£ 67,998 - Fixtures and equipment |
|---|---|---|
| 67,998 | ||
| 44,956 6,088 |
||
| 51,044 | ||
| 16,954 | ||
| 18,100 | ||
| 2021 £ 3,468 155,678 |
||
| 157,759 | 159,146 |
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Paradise School Trust
Notes to the financial statements for the year ended 31 August 2022
10. Creditors: amounts falling due within one year
| 10. Creditors: amounts falling due within one year Trade creditors Taxation and social security 11. Creditors: amounts falling due after more than one year Loans |
2022 £ 3,921 24,637 |
2021 £ 4,757 21 |
| 28,558 | 4,778 | |
| 2022 £ 9,000 |
2021 £ 4,000 |
12. Analysis of net assets between funds
13. Unrestricted funds
| Fixed assets Current assets Current liabilities Long term liabilities Unrestricted funds |
£ 229,872 At 1 September 2021 |
16,954 161,481 (28,558) (9,000) Unrestricted funds |
- - - - Restricted funds |
16,954 161,481 (28,558) (9,000) 2022 Total Funds |
23,042 215,608 (4,778) (4,000) 2021 Total Funds |
|---|---|---|---|---|---|
| 140,877 | - | 140,877 | 229,872 | ||
| £ 476,261 Incoming resources |
£ 565,256 Outgoing resources |
£ - recognised gains |
£ 140,877 At 31 August 2022 |
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