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 2022
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 2022
| 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 2022
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 2022. 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
Asim 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 21 December 2023 and signed on its behalf by:
Asim Hussain- 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 2022.
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
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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
Isaacs Trust House St James Business Park 5 New Augustus Street Bradford West Yorkshire BD1 5LL
21 December 2023
Page 2
Al-Hikam
Statement of Financial Activities
for the Year Ended 31 December 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 75,709 Other income 34,104 Total 109,813 EXPENDITURE ON Raising funds 2 91,189 NET INCOME/(EXPENDITURE) 18,624 RECONCILIATION OF FUNDS Total funds brought forward 316,915 TOTAL FUNDS CARRIED FORWARD 335,539 |
2021 Total funds £ 74,763 - 74,763 82,138 (7,375) 324,290 316,915 |
|---|---|
The notes form part of these financial statements
Page 3
Al-Hikam
Balance Sheet
31 December 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 6 8,636 Tangible assets 7 392,877 401,513 CURRENT ASSETS Cash at bank and in hand 20,914 CREDITORS Amounts falling due within one year 8 (11,033) NET CURRENT ASSETS 9,881 TOTAL ASSETS LESS CURRENT LIABILITIES 411,394 CREDITORS Amounts falling due after more than one year 9 (75,855) NET ASSETS 335,539 FUNDS 11 Unrestricted funds 335,539 TOTAL FUNDS 335,539 |
2021 Total funds £ 12,954 393,516 406,470 15,639 (10,566) 5,073 411,543 (94,628) 316,915 316,915 316,915 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 2022
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 21 December 2023 and were signed on its behalf by:
Asim Hussain - Trustee
The notes form part of these financial statements
Page 5
Al-Hikam
Notes to the Financial Statements
for the Year Ended 31 December 2022
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 2022
2. RAISING FUNDS
Raising donations and legacies
| Motor Support costs 3. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Web development amortisation |
2022 £ 899 90,290 91,189 2022 £ 7,860 4,318 |
2021 £ 1,849 80,289 |
|---|---|---|
| 82,138 | ||
| 2021 £ 7,973 4,319 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 74,763 |
| EXPENDITURE ON | |
| Raising funds | 82,138 |
| NET INCOME/(EXPENDITURE) | (7,375) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 324,290 |
| TOTAL FUNDS CARRIED FORWARD | 316,915 |
continued...
Page 7
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
6. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| Web | |
| development | |
| £ | |
| COST | |
| At 1 January 2022 and 31 December 2022 | 43,186 |
| AMORTISATION | |
| At 1 January 2022 | 30,232 |
| Charge for year | 4,318 |
| At 31 December 2022 | 34,550 |
| NET BOOK VALUE | |
| At 31 December 2022 | 8,636 |
| At 31 December 2021 | 12,954 |
7. TANGIBLE FIXED ASSETS
| COST At 1 January 2022 Additions At 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
Improvements Freehold to property property £ £ 348,338 51,721 - - 348,338 51,721 - 29,402 - 3,348 - 32,750 348,338 18,971 348,338 22,319 |
Fixtures and fittings £ 30,958 7,221 38,179 13,608 3,686 17,294 20,885 17,350 |
Computer equipment £ 12,787 - 12,787 7,278 826 8,104 4,683 5,509 |
Totals £ 443,804 7,221 |
|---|---|---|---|---|
| 451,025 | ||||
| 50,288 7,860 |
||||
| 58,148 | ||||
| 392,877 | ||||
| 393,516 |
continued...
Page 8
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||
|---|---|---|
| 2022 £ Bank loans and overdrafts (see note 10) 2,120 Trade creditors 4,973 Al Hikam Tours Limited 3,140 Social security and other taxes 800 11,033 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Other loans (see note 10) 75,855 10. LOANS An analysis of the maturity of loans is given below: 2022 £ 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 21,765 Repayable otherwise than by instalments: Other loans more 5yrs non-inst 54,090 11. MOVEMENT IN FUNDS Net movement At 1.1.22 in funds £ £ Unrestricted funds General fund 316,915 18,624 TOTAL FUNDS 316,915 18,624 |
2021 £ 2,120 4,972 3,140 334 10,566 2021 £ 94,628 2021 £ 2,120 24,488 70,140 At 31.12.22 £ 335,539 |
2021 £ 2,120 4,972 3,140 334 |
| 10,566 | ||
| 2021 £ 94,628 |
||
| 2021 £ 2,120 |
||
| 24,488 70,140 |
||
| 335,539 |
continued...
Page 9
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 109,813 109,813 |
Resources Movement expended in funds £ £ (91,189) 18,624 (91,189) 18,624 |
Resources Movement expended in funds £ £ (91,189) 18,624 (91,189) 18,624 |
|---|---|---|---|
| 18,624 |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.21 £ 324,290 324,290 |
Net movement in funds £ (7,375) (7,375) |
At 31.12.21 £ 316,915 |
|---|---|---|---|
| 316,915 |
Comparative 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) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.21 £ 324,290 324,290 |
Net movement in funds £ 11,249 11,249 |
At 31.12.22 £ 335,539 |
|---|---|---|---|
| 335,539 |
continued...
Page 10
Al-Hikam
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
11. 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:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 184,576 184,576 |
Resources Movement expended in funds £ £ (173,327) 11,249 (173,327) 11,249 |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 11
Al-Hikam
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Other income Government Grants Total incoming resources EXPENDITURE Raising donations and legacies Motor Support costs Management Wages Rent and rates 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 Bank loan interest Finance Bank charges Total resources expended Net income/(expenditure) |
2022 £ 1 75,708 75,709 34,104 109,813 899 2,821 9,342 8,011 11,654 3,410 - 3,124 8,495 23,012 5,315 - 4,319 3,348 3,686 826 270 87,633 2,657 91,189 18,624 |
2021 £ 1 74,762 74,763 - 74,763 1,849 - 2,614 7,224 8,434 580 175 1,565 7,080 22,937 7,506 6,700 4,319 3,939 3,062 972 - 77,107 3,182 82,138 (7,375) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12