REGISTERED COMPANY NUMBER: 08635866 (England and Wales) REGISTERED CHARITf NUMBER.. 1158667 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023 for Date Palm Pnma School Limited
Date Palm Prima School Limited Contents of the Financial Statements for the Year Ended 31 December 2023 Page Referen and Administrative Details Report of the Trustees Independent Examinels Report Statement of Financial Activities Statement of Financial Position Statement of Cash Flows Notes to the Statement of Cash Flows 10 Notes to the Financial Statements 11 to 17 Detailed Statement of Financial Activities 18 to 19
Date Palm Prima School Limited Referen and Administrative Details for the Year Ended 31 DeTrmber 2023 TRUSTEES Kamrul Islam Director M Mukhtar Miah Director REGISTERED OFFICE 82-88 Mile End Road London E14UN REGISTERED COMPANY NUMBER 08635866 {England and Wales) REGISTERED CHARITY NUMBER 1158667 INDEPENDENT EXAMINER Quilfords Limited Chartered Certified Accountants 113 Romford Road London E154LY Page 1
Date Palm Prima School Limited ort of the Trustees for the Year Ended 31 Dember 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 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 20191. OBJECTIVES AND ACTIVITIES Objectives and aims Our charitable objectives are underpinned by our values, ethos and approach. We the trustees, governors, staff, parents and friends of Date Palm Primary School are passionate about what we do and are always looking to support others in following the same journey. We are always learning and welcome opportunities to develop and to become more effective. The advancement of education in accordance with the national curriculum of the United Kingdom combined with the principles of the Islamic faith for the benefit of the public and local community To provide education for children and young people To develop children in their physical, mental, spiritual and moral capabilities so that they may grow to full maturity as individuals To provide education to Ghildren with special educational needs (SEN) in one of inner London's most deprived borough To provide training for teachers and other professionals working in the field of education of children with special educational needs {SEN} - To raise donations to invesl in our schools infrastruclure so we can provide more services to our pupils and the local community STRA TEGIC REPORT Funds in surplus The charity received income of £595.919 (2022.. £694.9991 during the year. After outgoing expenses of £613,775 {2022.' £633,386), the charity was left with a deficit of £17,85612022.' surplus of £61,613) for the year. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company. limited by guarantee. as defined by the Companies Act 2006. Page 2
Date Palm Prima School Limited ort of the Trustees for the Year Ended 31 December 2023 Report of the trustees, incorporating a strategic report, approved by order of the board of trustees. as the company directors, on 14 August 2024 and signed on the board's behalf by.. Kamrul Islam - Trustee Page 3
Inde endent Examinels Re ort to the Trustees of Date Palrn Prima School Limited Independent examinerfs report to the trustees of Date Palm Primary School Limited {'the Company'l I report to the charity tNstees on my examination of the accounts of the Company for the year ended 31 December 2023. Responsibilities and basis of report As the charity's Irustees of the Company (and also its directors for the purposes of company lawl 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 nol 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 as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under Section 145(51 Ib) of the 2011 Act. Page 4
Inde endent Examinels Re ort to the Trustees of Date Palm Prima School Limited Independent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified AccoLtntants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examinalion giving me cause to believe= accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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 the accounts have not been prepared in accordan 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 10211. I have no concerns and have come across no other matters in connection with the exarnination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Askir Ali Quilfords Limited Chartered Certified Accountants 113 Romford Road London E154LY 14 August 2024 Page 5
Date Palm Prima School Limited Statement of Financial Activities for the Year Ended 31 Detsmber 2023 31.12.23 Unrestricted fund 31.12.22 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 32,622 97,166 Other trading activities 563,298 597,833 Total 595.920 694,999 EXPENDITURE ON Raising funds 613,776 633,386 NET INCOMEIIEXPENDITURE) (17,8561 61,613 RECONCILIATION OF FUNDS Total funds brought fotward 244,353 182,740 TOTAL FUNDS CARRIED FORWARD 226,497 244,353 The notes form part of these financial statements Page 6
Date Palm Prima School Limited Slalement of Financial Position 31 December 2023 31.12.23 Unrestricted fund 31.12.22 Total funds Notes FIXED ASSETS Tangible assets 10 260,956 304.761 CURRENT ASSETS Debtors Cash at bank 62,916 19,758 62,916 13.086 82,674 76,002 NET CURRENT ASSETS 82,674 76,002 TOTAL ASSETS LESS CURRENT LIABILITIES 343,630 380,763 CREDITORS Amounts falling due after more than one year 12 (65.5231 184,800) PROVISIONS FOR LIABILITIES 14 (51,6101 151,610) NET ASSETS 226,497 244,353 FUNDS Unrestricted funds 15 226,497 244,353 TOTAL FUNDS 226,497 244.353 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 Dernber 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordan with Section 476 ofthe Companies Act 2006. The notes fomi part of these financial statements Page 7 continued...
Date Palm Prima School Limited Statement of Financial Position - continued 31 December 2023 The trustees acknowledge their responsibilities for (al ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 oflhe Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance wilh the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements were approved by the Board of Truslees and aLFthorised for issue on 14 August 2024 and were signed on ils behalf by-. Kamrul Islam - Trustee The notes form part of these financial statements Page 8
Date Palm Prima School Limited Statement of Cash Flows for the Year Ended 31 Dember 2023 31.12.23 31.12.22 Notes Cash flows from operating activities Cash generated from operations 25,949 110,083 Net cash provided by operating activities 25,949 110,083 Cash flows from investing activities Purchase of tangible fixed assets 3,723 Net cash provided byl(used inl investing activities 3,7231 Cash flows from financing activities Loan repayments in year 19,277 106,0001 Net cash used in financing activities 19.277) 106,000 Change in cash and oash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 6.672 360 13,086 12,726 Cash and cash equivalents at the end of the reporting period 19,758 13,086 The notes fom part of these financial statements Page 9
Date Palm Prima School Limited Notes to the Statement of Cash Flows for the Year Ended 31 December 2023 RECONCILIATION OF NET (EXPENDITUREIIINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.23 31.12.22 Net lexpenditure)lincome for the reporting period {as per the Statement of Financial Activities) Adjustments for: Depreciation charges (17,856) 61,613 43,805 48,470 Net cash provided by operations 25,949 110,083 ANALYSIS OF CHANGES IN NET DEBT At 1.1.23 Cash flow At 31.12.23 Net cash Cash at bank 13,086 6,672 19,758 13,086 6,672 19,758 Debt Debts falling due after 1 year 84,800 19.277 65,523 84,800 19,277 65,523 Total 71,714 25,949 45,765 The notes form part of these financial statements Page 10
Date Palm Prima School Limited Notes to the Financial Statements for the Year Ended 31 Dember 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended practi 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 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost conventson. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo 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. ere 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 Deprecialion is provided at the following annual rates in order to write off each asset over its eslimated useful life. Leasehold improvements are depreciated over 15 years on a straight line basis. IT equipment and Fixtures & fittings are depreciated over 5 years on a straight line basis. Taxation The charity is exempt from corporation 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. Page 11 continued...
Date Palm Prima School Limited Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defined contnbution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 31.12.23 31.12.22 Donations 32,622 97.166 OTHER TRADING ACTIVITIES 31.12.23 31.12.22 Fee Govemmenl funds Child care voucher 337,131 215.000 11.167 385,472 200,000 12,361 563,298 597,833 FiAISING FUNDS Raising donations and legacies 31.12.23 31.12.22 Support costs 613,776 633,386 SUPPORT COSTS Administrative Govemance Govemance expenses costs costs Finan Totals Raising donations and legacies 62 605,638 2,050 6,026 613,776 Page 12 continued...
Date Palm Prima School Limited Notes to the Financial Statements - continued for the Year Ended 31 Dember 2023 NET INCOMEIIEXPENDITUREI Net incomel{expenditure) is stated after chargingl{creéiting)= 31.12.23 31.12.22 Depreciation - owned assets 43,805 48,470 TRUSTEES. REMUNEFIATION AND BENEFITS Therewere no trustees, remuneration or other benefits forthe year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 Dember 2022. STAFF COSTS 31.12.23 31.12.22 Wages and salaries Other pension costs 381,304 1,357 388,195 1,459 382,661 389,654 The average monthly number of employees during the year was as follows.. 31.12.23 31.12.22 No employees received emoluments in ex$$ of £60,000. Page 13 continued...
Date Palm Prima School Limited Notes to the Financial Statements- continued for the Year Ended 31 December 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 97.166 Other trading activities 597,833 Total 694,999 EXPENDITURE ON Raising funds 633,386 NET INCOME 61,613 RECONCILIATION OF FUNDS Total funds brought forward 182,740 TOTAL FUNDS CARRIED FORWARD 244.353 10. TANGIBLE FIXED ASSETS Fixtures and fittings Long leasehold Plant and machinery Computer equipment Totals COST At 1 January 2023 and 31 December 2023 409,243 17,723 5,250 22,094 454,310 DEPRECIATION At 1 January 2023 Charge for year 116,732 40,878 5,600 2,800 5,250 21,967 127 149,549 43,805 At 31 December 2023 157,610 8,400 5,250 22.094 193,354 NET BOOK VALUE At 31 December 2023 251,633 9,323 260,956 At 31 December 2022 292,511 12,123 127 304,761 Page 14 continued...
Date Palm Prima School Limited Notes to the Financial Statements - continued for the Year Ended 31 December 2023 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other debtors 62.916 62,916 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.23 31.12.22 Other loans (see note 131 65,523 84,800 13. LOANS An analysis of the maturity of loans is given below.. 31.12.23 31.12.22 Amounts falling due between two and five years: Other loans- 2-5 years 65,523 84,800 14. PROVISIONS FOR LIABILITIES 31.12.23 31.12.22 Salaries payable 51,610 51,610 15. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At1.1.23 Unrestricted funds General fund 244,353 (17.8561 226,497 TOTAL FUNDS 244.353 226,497 Page 15 continued...
Date Palm Prima School Limited Notes to the Financial Statements - continued for the Year Ended 31 December 2023 15. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows-. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 595,920 {613,776) 117,856> TOTAL FUNDS 595,920 613,7761 17,8561 Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 182,740 61.613 244,353 TOTAL FUNDS 182.740 61,613 244,353 Comparative net movement in funds, included in the above are as follows.. Incoming reSoUrS Resources Movement expended in funds Unrestricted funds General fund 694.999 1633,386) 61.613 TOTAL FUNDS 694,999 633,386) 61,613 Page 16 continued...
Date Palm Prima School Limited Noles to the Financial Statements - continued for the Year Ended 31 Dember 2023 15. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.12.23 At 1.1.22 Unrestricted funds General fund 182,740 43,757 226,497 TOTAL FUNDS 182.740 43,757 226,497 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming reSoUrS Resources expended Movement in funds Unrestricted funds General fund 1,290,919 11,247,162) 43,757 TOTAL FUNDS 1,290,919 11,247,162) 43,757 16. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. Page 17
Date Palm Prima School Limited Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donations and legacies Donations 32,622 97,166 Other trading activities Fee Govemment funds Child care voucher 337,131 215.000 11,167 385.472 200.000 12,361 563,298 597,833 Total incoming resources 595,920 694,999 EXPENDITURE Support costs Finance Bank charges 62 61 Administrative expenses Wages Pensions Light and heat Rent Activities & trips Cleaning Insurance Books & School supplies Subscription Telecommunication Supply teachers cost Rates Website Staff training & welfare Software cost Hire and leasing of vehicle Other office costs Carried fOard 381,304 1,357 786 130,000 10,126 314 5,297 9,535 576 2,181 4,764 13,780 255 240 1,318 388,195 1,459 1,193 130,000 5,548 1,402 9,503 8,561 1,183 3,580 9,136 2,691 103 11,711 4,016 882 303 579,466 561,833 This page does not form part of the statutory financial statements Page 18
Date Palm Prima School Limited Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 Administrative expenses Brought forward Depreciation of tangible fixed assets 561.833 43,805 579,466 48,470 605,638 627,936 Govemance costs Charitable donation 2,050 2,001 Govemance costs Accountancy and legal fees Legal fees 1,200 4,826 1,200 2,188 6,026 3,388 Total resources expended 613,776 633,386 Net {expenditure)fincome 17,856) 61,613 This page does not form part of the statutory financial statements Page 19