REGISTERED CHARITY NUMBER: 1155170
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023
FOR
MADRASSA FAIZ-E-RAZA
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
MADRASSA FAIZ-E-RAZA
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023
----- Start of picture text -----
Page
Trustees' Report 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Statement of Financial Position 4
Notes to the Financial Statements 5 to 9
Detailed Statement of Financial Activities 10
----- End of picture text -----
MADRASSA FAIZ-E-RAZA
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST JULY 2023
The trustees present their report with the financial statements of the charity for the year ended 31st July 2023. The trustees have adopted the provisions of 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 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1155170
Principal address
341 Humberstone Road LEICESTER LE5 3DF
Trustees
Mr. S D Bajibhai Trustee Mr I N Patel Chair Mr M H Daud Trustee Mr A M Soneji Trustee Mr M G Mohamed Trustee
Independent Examiner
Nazir Malida ACCA Watergates Ltd 109 Coleman Road Leicester LE5 4LE
Approved by order of the board of trustees on 3rd January 2025 and signed on its behalf by:
Mr. S D Bajibhai - Trustee
-1-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MADRASSA FAIZ-E-RAZA
Independent examiner's report to the trustees of Madrassa Faiz-e-Raza
I report to the charity trustees on my examination of the accounts of Madrassa Faiz-e-Raza (the Trust) for the year ended 31st July 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Nazir Malida ACCA
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
3rd January 2025
-2-
MADRASSA FAIZ-E-RAZA
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 44,988 Charitable activities Maddressa fees 4,545 Investment income 2 9 Total 49,542 EXPENDITURE ON Charitable activities Maddressa fees 34,209 Other - Total 34,209 NET INCOME/(EXPENDITURE) 15,333 RECONCILIATION OF FUNDS Total funds brought forward 202,124 TOTAL FUNDS CARRIED FORWARD 217,457 |
Restricted fund £ - - - - - - - - - - |
31/7/23 Total funds £ 44,988 4,545 9 49,542 34,209 - 34,209 15,333 202,124 217,457 |
31/7/22 Total funds £ 35,642 7,206 - 42,848 42,665 2,496 45,161 (2,313) 204,437 202,124 |
|---|---|---|---|
The notes on page 0 form part of these financial statements
-3-
MADRASSA FAIZ-E-RAZA
STATEMENT OF FINANCIAL POSITION 31ST JULY 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 269,812 CURRENT ASSETS Debtors 6 9,359 Cash at bank and in hand 25,855 35,214 CREDITORS Amounts falling due within one year 7 (900) NET CURRENT ASSETS 34,314 TOTAL ASSETS LESS CURRENT LIABILITIES 304,126 CREDITORS Amounts falling due after more than one year 8 (86,669) NET ASSETS 217,457 FUNDS 9 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31/7/23 Total funds £ 269,812 9,359 25,855 35,214 (900) 34,314 304,126 (86,669) 217,457 217,457 217,457 |
31/7/22 Total funds £ 270,744 9,715 6,064 15,779 - 15,779 286,523 (84,399) 202,124 202,124 202,124 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 3rd January 2025 and were signed on its behalf by:
Mr. S D Bajibhai - Trustee
The notes on page 0 form part of these financial statements
-4-
MADRASSA FAIZ-E-RAZA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
-5-
MADRASSA FAIZ-E-RAZA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
2. INVESTMENT INCOME
----- Start of picture text -----
||||
|---|---|---|
|31/7/23|31/7/22|
|£|£|
|Deposit account interest|9|-|
----- End of picture text -----
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2023 nor for the year ended 31st July 2022.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
----- Start of picture text -----
|||||
|---|---|---|---|
|Unrestricted|Restricted|Total|
|fund|fund|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|-|
|Donations and legacies|35,642|35,642|
|Charitable activities|
|Maddressa fees|7,206|-|7,206|
|Total|42,848|-|42,848|
|EXPENDITURE ON|
|Charitable activities|
|Maddressa fees|42,665|-|42,665|
|Other|2,496|-|2,496|
|Total|45,161|-|45,161|
|-|
|NET INCOME/(EXPENDITURE)|(2,313)|(2,313)|
|RECONCILIATION OF FUNDS|
|-|
|Total funds brought forward|204,437|204,437|
|TOTAL FUNDS CARRIED FORWARD|202,124|-|202,124|
----- End of picture text -----
-6-
MADRASSA FAIZ-E-RAZA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
----- Start of picture text -----
5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£ £ £
COST
At 1st August 2022 and 31st July 2023 264,533 16,675 281,208
DEPRECIATION
-
At 1st August 2022 10,464 10,464
Charge for year - 932 932
-
At 31st July 2023 11,396 11,396
NET BOOK VALUE
At 31st July 2023 264,533 5,279 269,812
At 31st July 2022 264,533 6,211 270,744
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£ £
Other debtors 9,359 9,715
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£ £
Other creditors 900 -
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/23 31/7/22
£ £
Taxation and social security 605 635
Other creditors 86,064 83,764
86,669 84,399
9. MOVEMENT IN FUNDS
Net
movement At
At 1.8.22 in funds 31.7.23
£ £ £
Unrestricted funds
General fund 202,124 15,333 217,457
TOTAL FUNDS 202,124 15,333 217,457
----- End of picture text -----
-7-
MADRASSA FAIZ-E-RAZA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 49,542 TOTAL FUNDS 49,542 Comparatives for movement in funds At 1.8.21 £ Unrestricted funds General fund 204,437 TOTAL FUNDS 204,437 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 42,848 TOTAL FUNDS 42,848 A current year 12 months and prior year 12 months combined position is as follows: At 1.8.21 £ Unrestricted funds General fund 204,437 TOTAL FUNDS 204,437 |
Resources Movement expended in funds £ £ (34,209) 15,333 (34,209) 15,333 Net movement At in funds 31.7.22 £ £ (2,313) 202,124 (2,313) 202,124 Resources Movement expended in funds £ £ (45,161) (2,313) (45,161) (2,313) Net movement At in funds 31.7.23 £ £ 13,020 217,457 13,020 217,457 |
|---|---|
-8-
MADRASSA FAIZ-E-RAZA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 92,390 (79,370) |
Movement in funds £ 13,020 |
|---|---|---|
| TOTAL FUNDS | 92,390 (79,370) |
13,020 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2023.
-9-
MADRASSA FAIZ-E-RAZA
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Charitable activities Maddressa fees |
31/7/23 31/7/22 £ £ 44,988 35,642 9 - 4,545 7,206 |
|---|---|
| Total incoming resources EXPENDITURE Charitable activities Wages Rates and water Insurance Light and heat Telephone Postage and stationery Books & resources |
49,542 42,848 20,166 18,350 67 - 1,220 1,091 2,830 1,773 907 1,182 1,306 - 1,534 4,148 |
| Other Grants to institutions Support costs Management Pensions Advertising |
28,030 26,544 - 1,400 - 19 281 - |
| Information technology Repairs and renewals Governance costs Accountancy and legal fees Depreciation of tangible fixed assets |
281 19 4,066 16,102 900 - 932 1,096 |
| 1,832 1,096 |
|
| Total resources expended | 34,209 45,161 |
| Net income/(expenditure) | 15,333 (2,313) |
This page does not form part of the statutory financial statements
-10-