Charity number: 1160564
Daarul Arqam Education & Welfare Trust
UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31/03/2022
Prepared By: Avalon Partners Ltd 35 Watling St Rd Preston PR2 8EA
Daarul Arqam Education & Welfare Trust
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2022
TRUSTEES
REGISTERED OFFICE
283 Watling St Rd Preston PR2 1AB
CHARITY NUMBER
1160564
ACCOUNTANTS
Avalon Partners Ltd 35 Watling St Rd Preston PR2 8EA
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Daarul Arqam Education & Welfare Trust
ACCOUNTS
FOR THE YEAR ENDED 31/03/2022
CONTENTS
| Page | |
|---|---|
| Report of the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 to 10 |
| Detailed Statement of Financial Activities | 9 |
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Daarul Arqam Education & Welfare Trust
TRUSTEES' REPORT
FOR THE YEAR ENDED 31/03/2022
The trustees present their report and accounts for the year ended 31/03/2022
PRINCIPAL ACTIVITIES
The principal activity of the charity in the year under review was to provide education to members of the public.
STRUCTURE GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing CIO document, registered with the Charity Commission.
Risk management
The Trustees identify and review the risks to which the charity is exposed and ensure that controls are in place to provide appropriate and reasonable assurance against fraud and error.
We have had another successful year in providing education with our students achieving satisfactory and, in many cases, exceeding our expectation. We will continue to provide good education.
In terms of our finances. These have been strong and stable and we look forward to continuing this work.
This report was approved by the Board of Trustees on 26/12/2022
M Ally
M Ally Trustee
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Daarul Arqam Education & Welfare Trust
| Statement of Financial Activities for the year ended 31/03/2022 Income Income from generated funds Donations and legacies Total Income and endowments Expenses Costs of generating funds Expenditure on Charitable activities Total Expenses Net gains on investments Net Income Gains/(losses) on revaluation of fixed assests Net movement in funds: Net income for the year Total funds brought forward Net funds carried forward |
Unrestric ted funds £ 315,207 315,207 60,211 60,211 254,996 254,996 743,985 998,981 |
Restricte d funds £ - |
2022 Total £ 315,207 |
2021 Total £ 209,217 |
|---|---|---|---|---|
| - | 315,207 | 209,217 | ||
| - | 60,211 | 68,336 | ||
| - | 60,211 | 68,336 | ||
| - | 254,996 | 140,881 | ||
| - - |
254,996 743,985 |
140,881 603,103 |
||
| - | 998,981 | 743,984 |
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
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Daarul Arqam Education & Welfare Trust
BALANCE SHEET AT 31/03/2022
| FIXED ASSETS Notes Tangible assets 3 CURRENT ASSETS Debtors (amounts falling due within one year) 4 Cash at bank and in hand CREDITORS: Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amounts falling due after more than one year 6 NET ASSETS CAPITAL AND RESERVES Unrestricted funds |
2022 £ 444,796 19,703 914,561 934,264 25,079 909,185 1,353,981 355,000 998,981 998,981 |
2021 £ 425,000 - 604,604 604,604 24,615 579,989 1,004,989 261,004 743,985 743,985 |
|---|---|---|
These accounts have been prepared in accordance with the provisions applicable to charities.
Approved by the board of trustees on 26/12/2022 and signed on their behalf by
M Ally
.............................
M Ally Trustee
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Daarul Arqam Education & Welfare Trust
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2022
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
1b. Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1c. Resources Expended
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.
1d. Allocation And Apportionment Of Costs
All costs relate to the single activity of the charitable company and are recognised accordingly.
1e. 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.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.
1f. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
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Daarul Arqam Education & Welfare Trust
2. EMPLOYEES
| Average number of employees 3. TANGIBLE FIXED ASSETS Cost At 01/04/2021 Additions At 31/03/2022 Depreciation At 31/03/2022 Net Book Amounts At 31/03/2022 At 31/03/2021 4. DEBTORS Amounts falling due within one year: Other debtors 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts Other creditors |
2022 No. 8 Land And Buildings £ 425,000 19,796 444,796 - 444,796 425,000 2022 £ 19,703 19,703 2022 £ - 25,079 25,079 |
2021 No. 8 Total £ 425,000 19,796 |
|
|---|---|---|---|
| 444,796 | |||
| - | |||
| 444,796 | |||
| 425,000 | |||
| 2021 £ - |
|||
| - | |||
| 2021 £ 2,279 22,336 |
|||
| 24,615 |
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Daarul Arqam Education & Welfare Trust
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
|---|---|---|
| Bank loans and overdrafts | 2022 £ 355,000 |
2021 £ 261,004 |
| 355,000 | 261,004 |
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Daarul Arqam Education & Welfare Trust
Incoming Resources for the year ended 31/03/2022
| Incoming resources Incoming resources from generated funds Expenses for the year ended 31/03/2022 Expenses Costs of generating funds Charitable Activities Insurance Repairs and renewals Salaries Prizes Charitable donations Books and Materials Sundry expenses |
2022 £ 315,207 315,207 2022 £ 1,461 3,241 30,057 7,014 - 380 18,058 60,211 60,211 |
2021 £ 209,217 209,217 2021 £ 1,260 2,404 48,055 10,140 5,530 947 - |
|---|---|---|
| 68,336 | ||
| 68,336 |
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