REGISTERED CHARITY NUMBER: 1157330
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022
FOR
THE ALBERONIUS FOUNDATION
S.D. Garner + Co Limited Chartered Certified Accountants
92 Station Lane Hornchurch Essex RM12 6LX
THE ALBERONIUS FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Statement of Trustees' Responsibilities | 4 | ||
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
THE ALBERONIUS FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
The trustees present their report and the financial statements of the charity for the year ended 31 December 2022. 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.
OBJECTIVES AND ACTIVITIES
Objectives and aims
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To promote education and provide financial and physical support to student seeking further and higher education.
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To provide vocational skill to young people.
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.
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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has provided accommodation to male and female students finding difficult to live in London and to attend higher education.
On average 10 (2021:1) students have benefited from the programme.
Fund raising :
All funds raised were from individuals and donations from a charity, London Islamic Cultural and Recreation Society(LICARS).
Covid 19 Impact and Going Concern
Covid-19 had minimal 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.
FINANCIAL REVIEW
Financial position
The financial results of the charity for the year ended 31 December 2022 are fully reflected in the attached Financial Statements together with the Notes thereon. Income from donations and charitable activities for the year amounted to £59,457 (2021: £8,248).
Total resources expended was £44,606 (2021:£9,809) resulting in net surplus by £14,851(2021: deficit £1,561).
As at 31 December 2022, the charity has total unrestricted funds of £15,249 (2021: £398).
All the major activities of the charity were carried out by the volunteers and trustees.
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THE ALBERONIUS FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
FINANCIAL REVIEW
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 (LICARS) and Hasene International Germany.
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.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Alberonius Foundation is a Charitable incorporated organisation (CIO) and registered with the charity commission on 5 June 2014.
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 new 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 new 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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1157330
Principal address
399-401 High Road London N17 6QN
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THE ALBERONIUS FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
Trustees
Mr U Bilaloglu Mr R Gokce Mr M Gongordu
Independent Examiner
S.D. Garner + Co Limited Chartered Certified Accountants 92 Station Lane Hornchurch Essex RM12 6LX
BANKERS :
Barclays Bank plc Leicester, LE87 2BB
Al Rayan Bank 97-99 Whitechapel Road London, E1 1DT
Approved by order of the board of trustees on 19th October 2023 and signed on its behalf by:
Mr M Gongordu - Trustee
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THE ALBERONIUS FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ALBERONIUS FOUNDATION
Independent examiner's report to the trustees of The Alberonius Foundation
I report to the charity trustees on my examination of the accounts of The Alberonius Foundation (the Trust) for the year ended 31st December 2022.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Jamal Arshad FCCA
S.D. Garner + Co Limited Chartered Certified Accountants 92 Station Lane Hornchurch Essex RM12 6LX
19th October 2023
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THE ALBERONIUS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 13,089 Charitable activities Charitable Activity 46,368 Total 59,457 EXPENDITURE ON Raising funds - Charitable activities Charitable Activity 34,190 Other 10,416 Total 44,606 NET INCOME/(EXPENDITURE) 14,851 RECONCILIATION OF FUNDS Total funds brought forward 398 TOTAL FUNDS CARRIED FORWARD 15,249 |
2021 Total funds £ 8,248 - 8,248 300 9,509 - 9,809 (1,561) 1,959 398 |
|---|---|
The notes form part of these financial statements
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THE ALBERONIUS FOUNDATION
BALANCE SHEET
31ST DECEMBER 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 7,832 CURRENT ASSETS Cash at bank 23,238 CREDITORS Amounts falling due within one year 5 (15,821) NET CURRENT ASSETS 7,417 TOTAL ASSETS LESS CURRENT LIABILITIES 15,249 NET ASSETS 15,249 FUNDS 6 Unrestricted funds 15,249 TOTAL FUNDS 15,249 |
2021 Total funds £ 1,040 186 (828) (642) 398 398 398 398 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19th October 2023 and were signed on its behalf by:
Mr M Gongordu - Trustee
The notes form part of these financial statements
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THE ALBERONIUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
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.
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Cost of generating funds
Costs of generating voluntary income: The costs incurred in seeking voluntary income / fundraising. The costs incurred in seeking voluntary donations.
Charitable activities
These are costs associated with the provision of education/financial empowerment and development of humanitarian programmes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
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.
Fund accounting
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 objectivesof the charity.
continued...
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THE ALBERONIUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 8,248 |
| EXPENDITURE ON | |
| Raising funds | 300 |
| Charitable activities | |
| Charitable Activity | 9,509 |
| Total | 9,809 |
| NET INCOME/(EXPENDITURE) | (1,561) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 1,959 |
| TOTAL FUNDS CARRIED FORWARD | 398 |
continued...
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THE ALBERONIUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
4. TANGIBLE FIXED ASSETS
| 4. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Fixtures | |||
| and | |||
| fittings | |||
| £ | |||
| COST | |||
| At 1st January 2022 | 2,600 | ||
| Additions | 8,750 | ||
| At 31st December 2022 | 11,350 | ||
| DEPRECIATION | |||
| At 1st January 2022 | 1,560 | ||
| Charge for year | 1,958 | ||
| At 31st December 2022 | 3,518 | ||
| NET BOOK VALUE | |||
| At 31st December 2022 | 7,832 | ||
| At 31st December 2021 | 1,040 | ||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Other creditors | 2022 2021 £ £ 15,821 828 |
||
| 6. | MOVEMENT IN FUNDS | ||
| At 1/1/22 | Net movement At in funds 31/12/22 |
||
| Unrestricted funds | £ | £ £ |
|
| General fund | 398 | 14,851 15,249 |
|
| TOTAL FUNDS | 398 | 14,851 15,249 |
|
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources Movement |
||
| resources | expended in funds |
||
| Unrestricted funds | £ | £ £ |
|
| General fund | 59,457 | (44,606) 14,851 |
|
| TOTAL FUNDS | 59,457 | (44,606) 14,851 |
|
continued...
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THE ALBERONIUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/1/21 | in funds | 31/12/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,959 | (1,561) | 398 |
| TOTAL FUNDS | 1,959 | (1,561) | 398 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 8,248 | (9,809) | (1,561) |
| TOTAL FUNDS | 8,248 | (9,809) | (1,561) |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Unrestricted funds | At 1/1/21 £ |
Net movement in funds £ |
At 31/12/22 £ |
| General fund | 1,959 | 13,290 | 15,249 |
| TOTAL FUNDS | 1,959 | 13,290 | 15,249 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 67,705 (54,415) |
13,290 |
| TOTAL FUNDS | 67,705 (54,415) |
13,290 |
continued...
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THE ALBERONIUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
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THE ALBERONIUS FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 712 | 8,248 |
| Grants | 12,377 | - |
| Charitable activities | 13,089 | 8,248 |
| Income from activities | 46,368 | - |
| Total incoming resources | 59,457 | 8,248 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fund Raising | - | 300 |
| Charitable activities | ||
| Wages | 3,151 | - |
| Sundries | - | 90 |
| Student Education & Support | 27,763 | 7,897 |
| Other | 30,914 | 7,987 |
| Accomodation Rent | 10,000 | - |
| Travel & Subsistence | 416 | - |
| Support costs | 10,416 | - |
| Management | ||
| Telephone | 136 | - |
| Fixtures and fittings | 1,958 | 520 |
| Governance costs | 2,094 | 520 |
| Accountancy and legal fees | 1,182 | 1,002 |
| Total resources expended | 44,606 | 9,809 |
| Net income/(expenditure) | 14,851 | (1,561) |
This page does not form part of the statutory financial statements
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