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2021-12-31-accounts

Registered Charity No: 1157330

THE ALBERONIUS FOUNDATION

(A CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

FOR THE YEAR ENDED 31 DECEMBER 2021

Contents of the Financial Statements

Report of the Trustees 1 - 4
Independent Examiner’s Report to the Trustees 5
Statement of Financial Activities
 6
Statement of Financial Position 7
Notes to the Financial Statements
 8 - 10

THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The Alberonius Foundation, Charitable incorporated organisation (CIO): a CIO is a charity registered.

The charity is non-profit making, and its trustees are volunteers.

The trustees present their report and the financial statements of the charity for the year ended to 31 December 2021.

The trustees have adopted the provision of Accounting and Reporting by the 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 (FRS102) effective 1 January 2019.

REFERENCE AND ADMINISTRATIVE INFORMATION:

Charities registered name: THE ALBERONIUS FOUNDATION

Charities registered number: 1157330

Charities Principal address;

399-401 High Road London, N17 6QN

TRUSTEES: AT THE DATE OF THIS REPORT FOLLOWING WERE THE TRUSTEES OF THE CHARITY;

Ubeyde Bilaloglu Rifat Gokce Mehmet Gungordu

BANKERS : Barclays Bank plc

Leicester, LE87 2BB

Al Rayan Bank 97-99 Whitechapel Road London, E1 1DT

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THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

REPORT OF THE TRUSTEES – Continued FOR THE YEAR ENDED 31 DECEMEBR 2021

OBJECTIVES AND AIMS

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.

The trustees meet together as a body when and as required and are responsible for all decisions taken in relation to running the activities provided by the charity. To assist in the smooth running of the charity the trustees have set up a lead team of volunteers that help oversee certain aspects of the charity’s work. Currently the lead team is responsible for running various weekly adult classes and lectures, seminars, workshops, mentoring programmes etc. mainly from a hired community hall. Regular feedback is given to the trustees for review and approval.

RECRUITMENT AND APPOINTMENT OF TRUSTEES

The existing trustees are responsible for the recruitment of new trustees who are selected from the respected members of the faith who are active in the local community and the work that the trust does and who ensures that good relations are fostered between the charity and the people of the local community that it serves.

In selecting new trustees, we seek to identify people who are active and are willing to volunteer to help in our broader community work. Potential trustees will be given more details of the charity’s aims and activities and following induction period, if all agree, they are then proposed as new trustees at the subsequent trustees’ meeting. This process allows due consideration of the person's eligibility, personal competence, specialist knowledge and skills.

INDUCTION AND TRAINING OF TRUSTEES

Following appointment, new trustees will be introduced to their new role and are requested to familiarise themselves with contents of the trusts constitution and to the policies and procedures adopted by the charity. They are also requested to read a number of publications from the Charity Commission to ensure that they are aware of the scope of their responsibilities under the Charities Act. The new trustees will work with existing trustee assisting on particular activities and projects run by the charity. Once confident they will then be given the task of leading a particular activity or project as necessary.

USE OF VOLUNTEERS

Volunteers are an important resource in both our faith and community work. Volunteers are involved in most of our faith and community activities and we have over four people who regularly give up their time as volunteer teachers, cleaners, caretakers etc. All our trustees also give of their time freely. We encourage all members to be involved in voluntary activities and to share their skills with others. The lead volunteers working with projects involving children or other vulnerable groups are DBS checked.

ACHIVEMENTS AND PERFORMANCE

The charity has provided accommodation to male and female students finding difficult to live in London and to attend higher education.

On average 1 (2020:10) students have benefited from the programme.

Covid 19 Impact and Going Concern

Covid-19 had large impact on the Trust’s activity for the year. The trustees have reassessed the charity’s ability to continue post balance sheet date and concluded that there are no material risk and the charity will be able to meet its liability as they fall due.

Trustees are confident the trust would remain a going concern and fulfilling its charitable objects.

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THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

REPORT OF THE TRUSTEES – Continued FOR THE YEAR ENDED 31 DECEMBER 2021

FUND RAISING

All funds raised were from individuals and donations from a charity, London Islamic Cultural and Recreation Society (LICARS).

PUBLIC BENEFIT

As a charity we are asked by the Charity Commission to consider whether our activities provide” a public benefit.” The trustees have considered this matter, in accordance with the latest guidance. It believes our services do provide a public benefit and therefore justify our charitable status. We have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission and in planning future activities.

FINACIAL REVIEW

The financial results of the charity for the year ended 31 December 2021 are fully reflected in the attached Financial Statements together with the Notes thereon. Income from donations and charitable activities for the year amounted to £8,248 (2020: £43,811).

Total resources expended was £9,809 (2020:£56,996) resulting in net overspent by (£1,561) (2020: £13,185).

As at 31 December 2021, the charity has total unrestricted funds of £398 (2019: £1,959).

All the major activities of the charity were carried out by the volunteers and trustees.

RESERVES POLICY

The trustees consider, the reserves held are sufficient to continue the charities activity in future years and any shortfall is supported by London Islamic Cultural and Creation Society.

The trustees actively review the major risks which the charity faces on a regular basis and have also examined other operational risks faced by the charity. The trustees confirm that they have established systems to mitigate the significant risks.

TAXATION

The Trustees are of the opinion that as charity, the organisation will be exempt from taxation under the provisions of section 505 of the income and corporation Taxes act 1988.

STATEMENT OF TRUSTEES ’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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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THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

REPORT OF THE TRUSTEES – Continued FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF TRUSTEES ’ RESPONSIBILITIES (continued)

The trustees are responsible for keeping adequate financial and 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 Reports) Regulations 2008 and 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.

The trustees’ annual report was approved by the board of trustees on 26 October 2022 and signed on its behalf by:

.

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CHARITABLE INCORPORATED ORGANISATION

THE ALBERONIUS FOUNDATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ALBERONIUS FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2021

I report to the trustees on my examination of the accounts of the charitable for the year ended to 31 December 2021.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s trustees, who are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

Having satisfied myself that the accounts of the Charity are not required to be audited 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 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 EXAMINERS STATEMENT

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of the 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

J Arshad

. . . . . . . . . . . . .

Jamal Arshad FCCA S D Garner & Co Chartered Certified Accountants and Registered Auditors 92 Station Lane Hornchurch Essex RM12 6LX

26 October 2022

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CHARITABLE INCORPORATED ORGANISATION

THE ALBERONIUS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Incoming Resources
Incoming Resources
Note
Voluntary Donations
Grant
Income from Charitable Activities
Total Incoming Resources
2
Expenditure On
Fund Raising
Charitable Activities - Student support
3
Governance costs
4
Total Resources Expended
Net Income/(Overspent) Resources for the year
Total Funds Brought Forward 1 Apr 2020
Total Funds Carried Forward 31 Dec 2021		 2021
Unrestricted
funds
£
8,248
-
-
8,248
- - - - - - - -
300
8,507
1,002
9,809
(1,561)
1,959
398		 2020
Unrestricted
funds
£
19,949
9,600
14,262
43,811
- - - - - - - -
2,609
53,697
690
56,996
(13,185)
15,144
1,959

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CHARITABLE INCORPORATED ORGANISATION

THE ALBERONIUS FOUNDATION

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021

Fixed Assets
Note
Furniture & Fittings
5
Current Assets
Debtors
6
Cash at Bank and in Hand
7
Total Current Assets
Total Fixed and Current Assets
Less: Creditors
Amount falling due within one year
8
TOTAL ASSETS LESS CURRENT LIABILITIES
Funds
Unrestricted Funds
9
Total Funds		 2021
£
1,040
-
186
186
1,226
(828)
398
398
398		 2020
£
1,560
-
1,089
1,089
2,649
(690)
1,959
1,959
1,959

The financial statements were approved and authorised for issue by the Board on 26 October 2022 and signed on its behalf by:

Mr. Mehmet Gungordu

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THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

a) Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective from 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS102.

b) Going concern

The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern and accordingly the accounts have been prepared on a going concern basis.

c) Funds

The charities funds are split between restricted and unrestricted.

Unrestricted funds: All donations are considered unrestricted unless specifically stated by the donor. Unrestricted funds comprise the accumulated surplus or deficit on the statement of financial activities which are available for use at the discretion of the trustees in furtherance of the objectives of the charity.

Restricted funds: These are assigned by the donor, or the terms of the appeal, specified by a particular country or project. The donation and income deriving from them will be used in accordance with the specific purposes.

d) 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 particular categories of income:

.

Voluntary income: This comprises all incoming resources from donations and income from fundraising partners on the basis of that which is remitted.

e) Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure.

All expenditure is accounted for on an accruals basis and is recognised where there is a legal or constructive obligation to pay. Expenditure has been classified under headings that aggregate all costs related to that category.

f) Costs of generating funds

Costs of generating voluntary income: The costs incurred in seeking voluntary income / fundraising. The costs incurred in seeking voluntary donations.

g) Charitable activities

These are costs associated with the provision of education/financial empowerment and development of humanitarian programmes.

These include both the direct costs and support costs relating to these activities.

i) Taxation

As a charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax (VAT) is not recoverable by the company and is therefore included in the relevant costs in the statement of financial activities.

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THE ALBERONIUS FOUNDATION CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANACIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 DECEMBER 2021

j) Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

l) Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

m) Cash and Cash equivalents

The charity only considers cash in hand as cash at bank which is immediately available as cash equivalents.

n) Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

o) Tangible fixed assets

Tangible fixed assets, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over there expected useful lives on the following basis:

Fixture and Fittings 20% Straight line
2. Incoming Resources 2021 2020
£ £
Voluntary Donations 8,248
 19,949
Grant - 9,600
Income from Charitable Activities - 14,262
Total Incoming Resources 8,248 43,811
3. Charitable Activities- Expenses
Student Accommodation Rent
,, ,, Education & Financial Support
,, ,, Food
,, ,, Light & Heat
,, ,, Council & Water Rates
,, ,, Telephone & Internet
,, ,, Cleaning
Travelling and others		 2021
£
1,375
3,350
3,267
-
-
-
-
515
8,507		 2020
£
37,467
8,872
2,574
2,197
443
752
49
1,343
53,697

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CHARITABLE INCORPORATED ORGANISATION

THE ALBERONIUS FOUNDATION

NOTES TO THE FINANACIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 DECEMBER 2021

4. Governance costs
2021
2020
£
£
Accountancy & Independent Examiners’ fees
828
690
5. Fixed Assets
Cost
Depreciation
NBV
£
£
£
Cost -Bal Fwd 1 Jan 2020
2,600
-
2,600
Accumulated Depn Bal /Fwd
(1,040)
(1,040)
Depreciation charge for the year
(520)
(520)
At 31 December 2021
1,560
(520)
1,040
6. Cash at Bank and In Hand
2021
2020
£
£
Bank
398
41
Cash In Hand
-
1,048
398
1,089
7. Creditors and Accruals
2021
2020
£
£
Accruals
828
690
828
690
9. Movement in funds
Balance at
Incoming
Resources
01-Jan-21
Resources
Expended
£
£
£
Unrestricted Funds B/fwd 01 Jan 2021
1,959
-
-
Movement During the Year
-
8,248
(9,809)
Unrestricted Funds C/fwd 31 Dec 2021
1,959
8,248
(9,809)		 NBV
£
2,600
(1,040)
(520)		 Balance at
31-Dec-21
£
1,959
(1,561)
1,040
398

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