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 2021
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 2021
| 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 |
Al-Hikam
Report of the Trustees for the Year Ended 31 December 2021
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 2021. 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 2021.
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:
-
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 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 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 74,763 EXPENDITURE ON Raising funds 2 82,138 NET INCOME/(EXPENDITURE) (7,375) RECONCILIATION OF FUNDS Total funds brought forward 324,290 TOTAL FUNDS CARRIED FORWARD 316,915 |
2020 Total funds £ 77,048 84,196 (7,148) 331,438 324,290 |
|---|---|
The notes form part of these financial statements
Page 3
Al-Hikam
Balance Sheet
31 December 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 6 12,954 Tangible assets 7 393,516 406,470 CURRENT ASSETS Debtors 8 - Cash at bank and in hand 15,639 15,639 CREDITORS Amounts falling due within one year 9 (10,566) NET CURRENT ASSETS 5,073 TOTAL ASSETS LESS CURRENT LIABILITIES 411,543 CREDITORS Amounts falling due after more than one year 10 (94,628) NET ASSETS 316,915 FUNDS 12 Unrestricted funds 316,915 TOTAL FUNDS 316,915 |
2020 Total funds £ 17,273 394,132 411,405 30,000 10,454 40,454 (7,429) 33,025 444,430 (120,140) 324,290 324,290 324,290 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 2021
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 2021
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.
Page 6
continued...
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
2. RAISING FUNDS
Raising donations and legacies
3.
| Staff costs Motor Support costs NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Web development amortisation |
2021 £ 900 1,849 79,389 82,138 2021 £ 7,973 4,319 |
2020 £ - 213 83,983 |
|---|---|---|
| 84,196 | ||
| 2020 £ 8,080 4,318 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 77,048 |
| EXPENDITURE ON | |
| Raising funds | 84,196 |
| NET INCOME/(EXPENDITURE) | (7,148) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 331,438 |
| TOTAL FUNDS CARRIED FORWARD | 324,290 |
continued...
Page 7
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
6. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| Web | |
| development | |
| £ | |
| COST | |
| At 1 January 2021 and 31 December 2021 | 43,186 |
| AMORTISATION | |
| At 1 January 2021 | 25,913 |
| Charge for year | 4,319 |
| At 31 December 2021 | 30,232 |
| NET BOOK VALUE | |
| At 31 December 2021 | 12,954 |
| At 31 December 2020 | 17,273 |
7. TANGIBLE FIXED ASSETS
| COST At 1 January 2021 Additions At 31 December 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Improvements Freehold to property property £ £ 348,338 51,721 - - 348,338 51,721 - 25,464 - 3,938 - 29,402 348,338 22,319 348,338 26,257 |
Fixtures and fittings £ 23,601 7,357 30,958 10,546 3,062 13,608 17,350 13,055 |
Computer equipment £ 12,787 - 12,787 6,305 973 7,278 5,509 6,482 |
Totals £ 436,447 7,357 |
|---|---|---|---|---|
| 443,804 | ||||
| 42,315 7,973 |
||||
| 50,288 | ||||
| 393,516 | ||||
| 394,132 |
continued...
Page 8
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 £ Al Hikam Tours - 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Bank loans and overdrafts (see note 11) 2,120 Trade creditors 4,972 Al Hikam Tours Limited 3,140 Social security and other taxes 334 10,566 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 £ Other loans (see note 11) 94,628 11. LOANS An analysis of the maturity of loans is given below: 2021 £ Amounts falling due within one year on demand: Bank overdrafts 2,120 Amounts falling due in more than five years: Repayable by instalments: BB Loan 24,488 Repayable otherwise than by instalments: Other loans more 5yrs non-inst 70,140 12. MOVEMENT IN FUNDS Net movement At 1.1.21 in funds £ £ Unrestricted funds General fund 324,290 (7,375) TOTAL FUNDS 324,290 (7,375) |
2020 £ 30,000 2020 £ 2,120 4,975 - 334 7,429 2020 £ 120,140 |
2020 £ 30,000 |
|---|---|---|
| 2020 £ 2,120 4,975 - 334 |
||
| 7,429 | ||
| 2020 £ 2,120 50,000 70,140 At 31.12.21 £ 316,915 |
2020 £ 2,120 |
|
| 50,000 70,140 |
||
| 316,915 |
continued...
Page 9
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 74,763 | (82,138) | (7,375) |
| TOTAL FUNDS | 74,763 | (82,138) | (7,375) |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 331,438 331,438 |
Net movement in funds £ (7,148) (7,148) |
At 31.12.20 £ 324,290 |
|---|---|---|---|
| 324,290 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 77,048 | (84,196) | (7,148) |
| TOTAL FUNDS | 77,048 | (84,196) | (7,148) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 331,438 331,438 |
Net movement in funds £ (14,523) (14,523) |
At 31.12.21 £ 316,915 |
|---|---|---|---|
| 316,915 |
continued...
Page 10
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 151,811 | (166,334) | (14,523) |
| TOTAL FUNDS | 151,811 | (166,334) | (14,523) |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 11
Al-Hikam
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | 1 |
| Donations | 74,762 | 77,047 |
| 74,763 | 77,048 | |
| Total incoming resources | 74,763 | 77,048 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 900 | - |
| Motor | 1,849 | 213 |
| 2,749 | 213 | |
| Support costs | ||
| Management | ||
| Rates and water | 2,614 | 3,249 |
| Insurance | 7,224 | 5,435 |
| Light and heat | 8,434 | 6,920 |
| Telephone | 580 | 2,887 |
| Postage and stationery | 175 | 500 |
| Advertising | 1,565 | 1,883 |
| Sundries | 6,180 | 42,632 |
| Repairs and renewals | 22,937 | 915 |
| Donations | 7,506 | 4,883 |
| Travel | 6,700 | - |
| Computer software | 4,319 | 4,319 |
| Improvements to property | 3,939 | 4,634 |
| Fixtures and fittings | 3,062 | 2,304 |
| Computer equipment | 972 | 1,144 |
| 76,207 | 81,705 | |
| Finance | ||
| Bank charges | 3,182 | 2,278 |
| Total resources expended | 82,138 | 84,196 |
| Net expenditure | (7,375) | (7,148) |
This page does not form part of the statutory financial statements
Page 12