**REGISTERED CHARITY NUMBER: 1158044**
## **INSPIRING GRACE**
## **TRUSTEES' REPORT AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
**INSPIRING GRACE**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Trustees' Report**|2 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to 9|
**INSPIRING GRACE REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2023**
|**Trustees**|Anisa Rasul|
|---|---|
||Muhammad Umar Iqbal|
||Tahir Hussain Anwar|
|**Principal address**|172 Regent St|
||Nelson|
||BB9 8SG|
|**Registered charity number**|1158044|
|**Independent examiner**|Riley Moss 2018 Limited|
||Citygate|
||Longridge Road|
||Preston|
||Lancashire|
||PR2 5BQ|
Page 1
**INSPIRING GRACE**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 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).
## **Objectives and activities**
The objectives of the trust as set out in its governing document are:
1) The prevention of relief of poverty in Pendle, Lancashire and the surrounding area through the provision of essential food items to individuals and families in need.
2) The advancement of education through providing educational courses which promote, sustain and increase individual and collective knowledge and understanding on topics related to Islamic theology, jurisprudence and spirituality.
3) To advance the Islamic Faith through the holding of weekly prayer meetings where people gather to sing Islamic hymns in praise of God and the Prophet Muhammad (PBUH).
4) The promotion of community participation in healthy recreation for the benefit of the inhabitants of Pendle, Lancashire and surrounding area.
## **Achievement and performance**
## **Charitable activities**
It has been a productive year with things returning back to normal following two three challenging years due to the pandemic, we have also continued new projects particularly on online platforms. We are thus currently running a number of online courses related to both religious and social matters, which have had an excellent reception on both a local and national level. We have also continued to expand on our food poverty projects, seeking to find new and innovative ways to assist others in these difficult times.
Our swimming classes and Scouts club have continued to expand and grow steadily, with weekly sessions taking place. We have been able to train two more swimming instructors to allow us to expand our provision and cater for more students, as well as being able to provide a better service to existing students. The Scouts programme has continued to develop, providing a wide range of both indoor and outdoor activities in an integrated programme designed to fulfil a number of learning objectives and also allow the students to gain various badges and make measurable progress.
## **Financial review**
## **Financial position**
Monthly figures are submitted by respective heads of each area (food, sports, education etc.) between days 1 and 5 at the start of each month. The figures are checked against the monthly bank statement by the treasurer and queried/corrected if necessary. Restricted funds are carefully monitored with spreadsheets in place to monitor the expenses in line with the income for the respective restricted pot.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds at a minimum level. This provides sufficient funds to cover management and administration and support costs.
## **Future plans**
We will continue to develop existing projects, particularly the Scouts and Swimming activities, with a view to training up more leaders and instructors so we can expand our provision. We will also hope to develop offering classes both online and in person to children and adults alike.
## **Structure, governance and management**
Inspiring Grace is a registered UK Charity under charity number 1158044. It is an unincorporated charity. The governing document is a Trust Deed. The trustees named on page 1 have served throughout the year. The trustees have the power to appoint any person to be a trustee in accordance with the provisions of the Trust Deed. An appointed trustee holds office within the limits permitted by law.
Page 2
**INSPIRING GRACE**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2023**
Approved by order of the board of trustees on 1 August 2024 and signed on its behalf by:
Tahir Hussain Anwar - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INSPIRING GRACE**
## **Independent examiner's report to the trustees of Inspiring Grace**
I report to the charity trustees on my examination of the accounts of Inspiring Grace (the Trust) for the year ended 31 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:
1. accounting records were not kept in respect of the Trust 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 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.
Farook Patel FCA
Riley Moss 2018 Limited Citygate Longridge Road Preston Lancashire PR2 5BQ
2 August 2024
Page 4
**INSPIRING GRACE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
**----- Start of picture text -----**
2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
Income and endowments from
Donations and legacies 46,088 1,721 47,809 116,164
Expenditure on
Charitable activities 2
Charitable activities 108,720 - 108,720 175,399
NET INCOME/(EXPENDITURE) (62,632) 1,721 (60,911) (59,235)
Reconciliation of funds
-
Total funds brought forward 119,947 119,947 179,182
Total funds carried forward 57,315 1,721 59,036 119,947
**----- End of picture text -----**
The notes form part of these financial statements
Page 5
**INSPIRING GRACE**
## **BALANCE SHEET 31 JULY 2023**
**----- Start of picture text -----**
2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
Current assets
Cash at bank 58,005 1,721 59,726 120,277
Creditors
Amounts falling due within one year 4 (690) - (690) (330)
Net current assets 57,315 1,721 59,036 119,947
Total assets less current liabilities 57,315 1,721 59,036 119,947
NET ASSETS 57,315 1,721 59,036 119,947
Funds 5
Unrestricted funds 57,315 119,947
Restricted funds:
Restricted funds 1,721 -
Total funds 59,036 119,947
**----- End of picture text -----**
The financial statements were approved by the Board of Trustees and authorised for issue on 1 August 2024 and were signed on its behalf by:
Anisa Rasul - Trustee
Tahir Hussain Anwar - Trustee
The notes form part of these financial statements
Page 6
**INSPIRING GRACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 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.
## **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.
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 to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Page 7
continued...
**INSPIRING GRACE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023**
## **2. Charitable activities costs**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Direct|Support|
|Costs|costs|Totals|
|£|£|£|
|Charitable activities|108,360|360|108,720|
**----- End of picture text -----**
## **3. Trustees' remuneration and benefits**
During the year, the charity paid £26,000 (2022: £Nil) to Anisa Rasul who is the trustee for providing educational support service.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
## **4. Creditors: amounts falling due within one year**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2023|2022|
|£|£|
|Other creditors|690|330|
|5.|Movement in funds|
|Net|
|movement|At|
|At 1.8.22|in funds|31.7.23|
|£|£|£|
|Unrestricted funds|
|Unrestricted funds|119,947|(62,632)|57,315|
|Restricted funds|
|Restricted funds|-|1,721|1,721|
|TOTAL FUNDS|119,947|(60,911)|59,036|
|Net movement in funds, included in the above are as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted funds|
|Unrestricted funds|46,088|(108,720)|(62,632)|
|Restricted funds|
|Restricted funds|1,721|-|1,721|
|TOTAL FUNDS|47,809|(108,720)|(60,911)|
**----- End of picture text -----**
Page 8
continued...
**INSPIRING GRACE**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023**
## **5. Movement in funds - continued**
## **Comparatives for movement in funds**
|**Net**
**movement**
**At 1.8.21**
**in funds**
**£**
**£**
**Unrestricted funds**
Unrestricted funds
179,182
12,219
**Restricted funds**
Restricted funds
-
(71,454)
**TOTAL FUNDS**
179,182
(59,235)
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
Unrestricted funds
114,386
**Restricted funds**
Restricted funds
1,778
**TOTAL FUNDS**
116,164|**Transfers**
**between**
**At**
**funds**
**31.7.22**
**£**
**£**
(71,454)
119,947
71,454
-
-
119,947
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(102,167)
12,219
(73,232)
(71,454)
(175,399)
(59,235)|
|---|---|
**Restricted Funds** - This comprises of 1 restricted fund received for the various purposes which all related to the objectives and activities of the charity.
## **6. Related party disclosures**
There were no related party transactions for the year ended 31 July 2023.
Page 9