REGISTERED COMPANY NUMBER: 09210531 (England and Wales) REGISTERED CHARITY NUMBER: 1160729
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for Al-Hikam
Isaacs Trust House St James Business Park 5 New Augustus Street Bradford West Yorkshire BD1 5LL
Al-Hikam
Contents of the Financial Statements for the Year Ended 31 December 2020
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Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4 to 5
Notes to the Financial Statements 6 to 11
Detailed Statement of Financial Activities 12 to 13
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Al-Hikam
Report of the Trustees for the Year Ended 31 December 2020
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 2020. 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).
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09210531 (England and Wales)
Registered Charity number 1160729
Registered office
12 Bull Royd Lan Bradford BD8 0LJ
Trustees
Zaheer Nazir Adil Shahzad Assaid Hussain
Company Secretary
Independent Examiner
Isaacs Trust House St James Business Park 5 New Augustus Street Bradford West Yorkshire BD1 5LL
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Adil Shahzad - Trustee
Page 1
Independent Examiner's Report to the Trustees of Al-Hikam
Independent examiner's report to the trustees of Al-Hikam ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) 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 not 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'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance 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 102)).
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.
Isaacs Accountants (UK) Ltd ACCA Isaacs Trust House St James Business Park 5 New Augustus Street Bradford West Yorkshire BD1 5LL
Date: .............................................
Page 2
Al-Hikam
Statement of Financial Activities for the Year Ended 31 December 2020
| 2020 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 77,048 EXPENDITURE ON Raising funds 2 84,196 NET INCOME/(EXPENDITURE) (7,148) RECONCILIATION OF FUNDS Total funds brought forward 331,438 TOTAL FUNDS CARRIED FORWARD 324,290 |
2019 Total funds £ 131,874 114,535 17,339 314,099 331,438 |
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The notes form part of these financial statements
Page 3
Al-Hikam
Balance Sheet
31 December 2020
| 2020 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 6 17,273 Tangible assets 7 394,132 411,405 CURRENT ASSETS Debtors 8 30,000 Cash at bank and in hand 10,454 40,454 CREDITORS Amounts falling due within one year 9 (7,429) NET CURRENT ASSETS 33,025 TOTAL ASSETS LESS CURRENT LIABILITIES 444,430 CREDITORS Amounts falling due after more than one year 10 (120,140) NET ASSETS 324,290 FUNDS 12 Unrestricted funds 324,290 TOTAL FUNDS 324,290 |
2019 Total funds £ 21,591 397,154 418,745 - 11,669 11,669 (9,376) 2,293 421,038 (89,600) 331,438 331,438 331,438 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 with 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 notes form part of these financial statements
continued...
Page 4
Al-Hikam
Balance Sheet - continued 31 December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Adil Shahzad - Trustee
The notes form part of these financial statements
Page 5
Al-Hikam
Notes to the Financial Statements for the Year Ended 31 December 2020
1. 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 (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 Companies Act 2006. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Computer equipment - 15% on reducing balance
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.
continued...
Page 6
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
2. RAISING FUNDS
| Raising donations and legacies Staff costs Motor Support costs 3. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Web development amortisation 4. TRUSTEES' REMUNERATION AND BENEFITS |
2020 £ - 213 83,983 84,196 2020 £ 8,080 4,318 |
2019 £ 775 345 110,258 111,378 2019 £ 8,615 4,319 |
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There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
| Trustees' expenses Trustees' expenses |
2020 £ - |
2019 £ 3,157 |
|---|---|---|
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds |
Unrestricted fund £ 131,874 114,535 |
|
| NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
17,339 314,099 |
continued...
Page 7
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ |
|
|---|---|
| TOTAL FUNDS CARRIED FORWARD | 331,438 |
| 6. INTANGIBLE FIXED ASSETS COST At 1 January 2020 and 31 December 2020 |
Web development £ 43,186 |
| AMORTISATION At 1 January 2020 Charge for year |
21,595 4,318 |
| At 31 December 2020 | 25,913 |
| NET BOOK VALUE At 31 December 2020 |
17,273 |
| At 31 December 2019 | 21,591 |
7. TANGIBLE FIXED ASSETS
| COST At 1 January 2020 Additions At 31 December 2020 DEPRECIATION At 1 January 2020 Charge for year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Improvements Freehold to property property £ £ 348,338 51,721 - - 348,338 51,721 - 20,830 - 4,634 - 25,464 348,338 26,257 348,338 30,891 |
Fixtures and fittings £ 18,543 5,058 23,601 8,243 2,303 10,546 13,055 10,300 |
Computer equipment £ 12,787 - 12,787 5,162 1,143 6,305 6,482 7,625 |
Totals £ 431,389 5,058 436,447 34,235 8,080 42,315 394,132 397,154 |
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continued...
Page 8
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
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8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£ £
Al Hikam Tours 30,000 -
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Bank loans and overdrafts (see note 11) 2,120 2,120
Trade creditors 4,975 6,072
Social security and other taxes 334 409
Wages - 775
7,429 9,376
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£ £
Other loans (see note 11) 120,140 89,600
11. LOANS
An analysis of the maturity of loans is given below:
2020 2019
£ £
Amounts falling due within one year on demand:
Bank overdrafts 2,120 2,120
Amounts falling due in more than five years:
Repayable by instalments:
BB Loan 50,000 -
Repayable otherwise than by instalments:
Other loans more 5yrs non-inst 70,140 89,600
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Page 9
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
12. MOVEMENT IN FUNDS
| At 1.1.20 £ Unrestricted funds General fund 331,438 TOTAL FUNDS 331,438 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 77,048 TOTAL FUNDS 77,048 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 314,099 TOTAL FUNDS 314,099 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 131,874 TOTAL FUNDS 131,874 |
Net movement At in funds 31.12.20 £ £ (7,148) 324,290 (7,148) 324,290 Resources Movement expended in funds £ £ (84,196) (7,148) (84,196) (7,148) Net movement At in funds 31.12.19 £ £ 17,339 331,438 17,339 331,438 Resources Movement expended in funds £ £ (114,535) 17,339 (114,535) 17,339 |
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continued...
Page 10
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.19 £ 314,099 314,099 |
Net movement in funds £ 10,191 10,191 |
At 31.12.20 £ 324,290 324,290 |
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 208,922 (198,731) |
Movement in funds £ 10,191 |
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| TOTAL FUNDS | 208,922 (198,731) |
10,191 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 11
Al-Hikam
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Total incoming resources EXPENDITURE Raising donations and legacies Wages Motor Other trading activities Trustees' expenses Support costs Management Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Repairs and renewals Donations Travel Computer software Improvements to property Fixtures and fittings Computer equipment Finance Bank charges |
2020 £ 1 77,047 77,048 77,048 - 213 213 - 3,249 5,435 6,920 2,887 500 1,883 42,632 915 4,883 - 4,319 4,634 2,304 1,144 81,705 2,278 |
2019 £ 1 131,873 131,874 131,874 775 345 1,120 3,157 54,302 4,543 8,904 7,741 1,699 8,077 579 399 216 7,558 4,319 5,451 1,818 1,346 106,952 3,306 |
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This page does not form part of the statutory financial statements
Page 12
Al-Hikam
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| Total resources expended Net (expenditure)/income |
2020 £ 84,196 (7,148) |
2019 £ 114,535 17,339 |
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This page does not form part of the statutory financial statements
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