Trustees report financial year ending 31[st] March 2021
Given the prolonged lockdown during the financial year, a significant amount of our community engagement and training was to continue to deliver and expand on last year’s public workshops that addressed cultural capital and social integration via online platforms and virtual seminars.
We replicated last year’s successful seminars on female empowerment and access into public and professional spaces.
Our private seminars addressed modern challenges faced by religious leaders, as well as developing constructive narratives around science, technology and education. We brought together an understanding of faith as a progressive enabler in the modern world and emphasized the role of reason and rationality.
These seminars brought together young Muslims to offer vocational for the important challenges facing young people in work, education and social life.
Registration number: 08933811
Averroes Trust
Annual Report and Financial Statements
for the Year Ended 31 March 2021
Averroes Trust
Contents
| Company Information | 1 |
|---|---|
| Director's Report | 2 |
| Statement of Director's Responsibilities | 3 |
| Accountants' Report | 4 |
| Profit and Loss Account | 5 |
| Statement of Comprehensive Income | 6 |
| Balance Sheet | 7 |
| Statement of Changes in Equity | 8 |
| Notes to the Financial Statements | 9 to 10 |
| Detailed Profit and Loss Account | 11 to 13 |
Averroes Trust
Company Information
Director Abbas Dhami Registered office 47 Bateman Road London E4 8ND Accountants Mohammad Dhami T/A MRD Accountants 47 Bateman Road Chingford London E4 8ND
Page 1
Averroes Trust
Director's Report for the Year Ended 31 March 2021
The director presents his report and the financial statements for the year ended 31 March 2021.
Director of the company
The director who held office during the year was as follows:
Abbas Dhami
Principal activity
The principal activity of the company is Other professional, scientific and technical activities not elsewhere classified
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the director on .................... and signed on its behalf by:
......................................... Abbas Dhami Director
Page 2
Averroes Trust
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
-
select suitable accounting policies and apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of Averroes Trust for the Year Ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Averroes Trust for the year ended 31 March 2021 as set out on pages 5 to 10 from the company's accounting records and from information and explanations you have given us.
It is your duty to ensure that Averroes Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Averroes Trust. You consider that Averroes Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Averroes Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Mohammad Dhami T/A MRD Accountants 47 Bateman Road Chingford London E4 8ND Date:.............................
Page 4
Averroes Trust
Profit and Loss Account for the Year Ended 31 March 2021
| Note Turnover Gross profit Administrative expenses Other operating income Operating profit Profit before tax Profit for the financial year |
2021 £ 23,129 23,129 (19,293) 15,612 19,448 19,448 19,448 |
2020 £ 19,864 |
|---|---|---|
| 19,864 (23,431) 7,290 |
||
| 3,723 | ||
| 3,723 | ||
| 3,723 |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 9 to 10 form an integral part of these financial statements. Page 5
Averroes Trust
Statement of Comprehensive Income for the Year Ended 31 March 2021
| Profit for the year Total comprehensive income for the year |
2021 £ 19,448 19,448 |
2020 £ 3,723 |
|---|---|---|
| 3,723 |
The notes on pages 9 to 10 form an integral part of these financial statements. Page 6
Averroes Trust
(Registration number: 08933811) Balance Sheet as at 31 March 2021
| Note Current assets Cash at bank and in hand Creditors: Amounts falling due within one year 3 Net assets Capital and reserves Profit and loss account Shareholders' funds |
2021 £ 26,393 (1,200) 25,193 25,193 25,193 |
2020 £ 6,945 (1,200) |
|---|---|---|
| 5,745 | ||
| 5,745 | ||
| 5,745 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the director on ....................
.........................................
Abbas Dhami Director
The notes on pages 9 to 10 form an integral part of these financial statements. Page 7
Averroes Trust
Statement of Changes in Equity for the Year Ended 31 March 2021
| At 1 April 2020 Profit for the year Total comprehensive income At 31 March 2021 At 1 April 2019 Profit for the year Total comprehensive income At 31 March 2020 |
Profit and loss account £ 5,745 19,448 19,448 25,193 Profit and loss account £ 2,022 3,723 3,723 5,745 |
Total £ 5,745 19,448 |
|---|---|---|
| 19,448 | ||
| 25,193 | ||
| Total £ 2,022 3,723 |
||
| 3,723 | ||
| 5,745 |
The notes on pages 9 to 10 form an integral part of these financial statements. Page 8
Averroes Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
1 General information
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is: 47 Bateman Road London E4 8ND United Kingdom
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 9
Averroes Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
3 Creditors
| Creditors: amounts falling due within one year Note Due within one year Loans and borrowings 4 4 Loans and borrowings Current loans and borrowings Other borrowings |
2021 £ 1,200 2021 £ 1,200 |
2020 £ 1,200 |
|---|---|---|
| 2020 £ 1,200 |
Page 10
Averroes Trust
Detailed Profit and Loss Account for the Year Ended 31 March 2021
| Turnover (analysed below) Gross profit (%) Administrative expenses Employment costs (analysed below) General administrative expenses (analysed below) Other operating income (analysed below) Operating profit Profit before tax |
2021 £ 23,129 100% (15,786) (3,507) (19,293) 15,612 19,448 19,448 |
2020 £ 19,864 |
|---|---|---|
| 100% (16,426) (7,005) |
||
| (23,431) 7,290 |
||
| 3,723 | ||
| 3,723 |
This page does not form part of the statutory financial statements. Page 11
Averroes Trust
Detailed Profit and Loss Account for the Year Ended 31 March 2021
| Turnover Donations Employment costs Wages and salaries General administrative expenses Sundry expenses Promotional expenses Other operating income Other operating income Operating profit Profit before tax |
2021 £ 23,129 (15,786) (3,507) - (3,507) 15,612 19,448 19,448 |
2020 £ 19,864 (16,426) (4,968) (2,037) |
|---|---|---|
| (7,005) 7,290 |
||
| 3,723 | ||
| 3,723 |
This page does not form part of the statutory financial statements. Page 12
Averroes Trust
Detailed Profit and Loss Account for the Year Ended 31 March 2021
| Turnover Donations Employment costs Wages and salaries General administrative expenses Sundry expenses Promotional expenses Other operating income Other operating income |
2021 £ 23,129 (15,786) (3,507) - (3,507) 15,612 |
2020 £ 19,864 |
|---|---|---|
| (16,426) | ||
| (4,968) (2,037) |
||
| (7,005) | ||
| 7,290 |
This page does not form part of the statutory financial statements. Page 13
Company Tax Return - supplementary page Charities and Community Amateur Sports Clubs (CASCs) CT600E (2015) Version 3 for accounting periods starting on or after 1 April 2015
Guidance
Guidance about when and how to complete this supplementary page can be found in the CT600 Guide.
For further information read What supplementary pages do I need to complete and include as part of the Company Tax Return? to find out what supplementary pages you need to complete.
Also, read the Important points about all supplementary pages and CT600E - Charities and Community Amateur Sports Clubs (CASCs) for further guidance about completing this supplementary page.
Company information
----- Start of picture text -----
E1 Company name Averroes Trust
(name of charity or CASC)
7 7 7 0 0 0 2 8 7 2
E2 Tax reference
Period covered by this supplementary page (cannot exceed 12 months)
E3 from DD MM YYYY 0 1 0 4 2 0 2 0
E4 to DD MM YYYY 3 1 0 3 2 0 2 1
----- End of picture text -----
Claims to exemption (this section should be completed in all cases)
----- Start of picture text -----
Charity/CASC repayment reference E5 EW37862
Charity Commission registration number, or E10 1159019
OSCR number (if applicable)
Put an 'X' in the relevant box if during the period covered by these supplementary pages:
The company was a charity/CASC and is claiming E15
exemption from all tax on all or part of its income
and gains (Also put an 'X' in box E15 if the company
was a charity/CASC but had no income or gains in the period)
All income and gains are exempt from tax and have been, E20
or will be, applied for charitable or qualifying purposes only
Some of the income and gains may not be exempt or have E25
not been applied for charitable or qualifying purposes only,
and I have completed form CT600
I claim exemption from tax
Name E30 Abbas Dhami
Status E35 Trustee
Date DD MM YYYY E40 2 8 1 2 2 0 2 1
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Repayments
To make a repayment claim for the period covered by these supplementary pages, please register and enrol to use the Charities Online service. See CT600 guide for further information.
Put an 'X' in the box if during the period covered by these supplementary pages you have over claimed tax. E45
Information required
Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC. Enter the figure included in the charity's/CASC'S accounts for the period covered by this return.
Non-exempt amounts should be entered on formCT600 in the appropriate boxes.
| Enter total turnover from exempt charitable trading activities E50 Type of income Amount Investment income - exclude any amounts included on form CT600 E55 UK land and buildings - exclude any amounts included on form CT600 E60 Gift Aid - exclude any amounts included on form CT600 E65 From other charities - exclude any amounts included on form CT600 E70 Gifts of shares or securities received E75 Gifts of real property received E80 Other sources (not included above) E85 Total of boxes E50 to E85 E90 £ 38741 • 00 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ 38741 • 00 |
Enter total turnover from exempt charitable trading activities E50 Type of income Amount Investment income - exclude any amounts included on form CT600 E55 UK land and buildings - exclude any amounts included on form CT600 E60 Gift Aid - exclude any amounts included on form CT600 E65 From other charities - exclude any amounts included on form CT600 E70 Gifts of shares or securities received E75 Gifts of real property received E80 Other sources (not included above) E85 Total of boxes E50 to E85 E90 £ 38741 • 00 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ 38741 • 00 |
Enter total turnover from exempt charitable trading activities E50 Type of income Amount Investment income - exclude any amounts included on form CT600 E55 UK land and buildings - exclude any amounts included on form CT600 E60 Gift Aid - exclude any amounts included on form CT600 E65 From other charities - exclude any amounts included on form CT600 E70 Gifts of shares or securities received E75 Gifts of real property received E80 Other sources (not included above) E85 Total of boxes E50 to E85 E90 £ 38741 • 00 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ 38741 • 00 |
|---|---|---|
| 0 | 0 |
Enter details of expenditure as shown in the charity's/CASC's accounts for the period covered by these supplementary pages
| Type of expenditure Amount Trading costs in relation to exempt charitable activities (in box E50) E95 UK land and building costs in relation to exempt charitable activities (in box E60) E100 All general administration/governance costs E105 All grants and donations made within the UK E110 All grants and donations made outside the UK E115 Other expenditure not included above, or not used in calculating figures entered on the form CT600 E120 Total of boxes E95 to E120 E125 £ 19293 • 00 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ 19293 • 00 |
Type of expenditure Amount Trading costs in relation to exempt charitable activities (in box E50) E95 UK land and building costs in relation to exempt charitable activities (in box E60) E100 All general administration/governance costs E105 All grants and donations made within the UK E110 All grants and donations made outside the UK E115 Other expenditure not included above, or not used in calculating figures entered on the form CT600 E120 Total of boxes E95 to E120 E125 £ 19293 • 00 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ 19293 • 00 |
Type of expenditure Amount Trading costs in relation to exempt charitable activities (in box E50) E95 UK land and building costs in relation to exempt charitable activities (in box E60) E100 All general administration/governance costs E105 All grants and donations made within the UK E110 All grants and donations made outside the UK E115 Other expenditure not included above, or not used in calculating figures entered on the form CT600 E120 Total of boxes E95 to E120 E125 £ 19293 • 00 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ • 0 0 £ 19293 • 00 |
|---|---|---|
| 0 | 0 |
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Information required
Charity/CASC assets
| Charity/CASC assets | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Disposals | in period | Held at the | end of the period | |||||||||||||||||||||||||
| (total consideration received) | (use accounts figures) | |||||||||||||||||||||||||||
| Tangible fixed E130 £ |
• | 0 | 0 | E135 | £ | • | 0 | 0 | ||||||||||||||||||||
| assets | ||||||||||||||||||||||||||||
| UK investments E140 £ |
• | 0 | 0 | E145 | £ | • | 0 | 0 | ||||||||||||||||||||
| (excluding | ||||||||||||||||||||||||||||
| controlled companies) | ||||||||||||||||||||||||||||
| Shares in, E150 £ |
• | 0 | 0 | E155 | £ | • | 0 | 0 | ||||||||||||||||||||
| and loans to, | ||||||||||||||||||||||||||||
| controlled companies | ||||||||||||||||||||||||||||
| Overseas E160 £ |
• | 0 | 0 | E165 | £ | • | 0 | 0 | ||||||||||||||||||||
| investments | ||||||||||||||||||||||||||||
| Loans and non-trade debtors | E170 | £ | • | 0 | 0 | |||||||||||||||||||||||
| Other current assets | E175 | £ | 2 |
5 |
1 |
9 |
3 |
• | 0 | 0 | ||||||||||||||||||
| Qualifying investments and loans | E180 | |||||||||||||||||||||||||||
| Applies to charities only. See CT600 Guide | ||||||||||||||||||||||||||||
| Value of any non-qualifying investments and | loans | E185 | £ | • | 0 | 0 | ||||||||||||||||||||||
| Applies to charities only. See CT600 Guide | ||||||||||||||||||||||||||||
| Number of subsidiary or associated companies the charity | E190 | |||||||||||||||||||||||||||
| controls at the end of the period. | Exclude companies | that | ||||||||||||||||||||||||||
| were dormant throughout the period |
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