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2023-03-31-accounts

AHLUL ISTIQAMAH TRUST-UK

UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023

REGISTERED CHARITY NUMBER 1163919

AAA Accounting Limited Chartered Certified Accountants Jhumat House, 160 London Road Barking, England IG11 8BB

AHLUL ISTIQAMAH TRUST-UK

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page
Members of boards and professional advisors 1
Trustees annual report 2-5
Independent examiners report to the trustees 6-7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10

AHLUL ISTIQAMAH TRUST-UK

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Registered charity name Ahlul Istiqamah Trust-Uk Charity number 1163919 Registered office 11-13 Broadway Barking IG11 7LS Trustees Ms Muzne Suleiman Mr Sabri Salim Ali Saleh al-Bahry (Chair) Mrs Salha Mansour Independent examiners AAA Accounting Limited Chartered Certified Accountants Jhumat House, 160 London Road Barking, England IG11 8BB Bankers BARCLAYS Bank Plc

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AHLUL ISTIQAMAH TRUST-UK

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

THE TRUSTEES

The trustees who served during the period were as follows:

Ms Muzne Suleiman Mr Sabri Salim Ali Saleh al-Bahry Mrs Salha Mansour

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Ahlul Istiqamah Trust-Uk is a Charitable Incorporated Organisation (CIO), constituted under a trust deed dated 02 November 2015 and is a registered charity since 09 Oct 2015, number 1163919.

Method of appointment of Trustees and policies adopted for their induction

Appointment of charity trustees

Apart from the first charity trustees, every trustee must be appointed for a term determined by the Trustees by a resolution passed at a properly convened meeting of the charity trustees.

Information for new charity trustees

The charity trustees will make available to each new charity trustee, on or before his or her first appointment:

(a) a copy of the current version of this constitution; and

(b) a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts.

Decision making

The trustees are legally responsible for the overall management and control of the Centre and do meetings regularly. The Finance and General Purposes (building) members generally meet regularly to consider the tasks delegated to them in respect of financial, building work or any specialist adviser report, which are then communicated to the other trustees at the main board meeting for their deliberations.

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AHLUL ISTIQAMAH TRUST-UK TRUSTEES ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023

Risk review

The management committee has conducted a review of the major risks, which the charity is exposed to and systems have been established to mitigate those risks. Significant external risks to funding have been reduced by the development of a strategic plan, which will allow for development only when the funds are in hand or have been guaranteed. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

OBJECTIVES AND ACTIVITIES

The aims and objects of the charity are:

  1. To advance the religion of Islam, by means of, but not exclusively, promoting the teachings and tenets of Islam, provision of facilities for worship and provision of facilities for Islamic education, in accordance with the teachings of the Quran and sunnah of the Prophet Muhammad (PBUH) as expounded by the Ibadhi school of thought;

  2. To relieve financial hardship, distress and suffering among poor people, widows, orphans, refugees, victims of natural disasters and other people in need, by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the establishment of water wells and the provision of food, clothing, and accommodation for the said persons;

  3. To advance education for the benefit of the poor, the underprivileged and the general public by means of, but not exclusively, the provision or the assistance in the provision of scholarships, educational activities and facilities, such as schools, libraries and training centers.

These objectives will be achieved by raising funds through donations.

ACTIVITIES

PUBLIC BENEFIT STATEMENT

In setting out the objectives and planning the activities, the trustees have given careful consideration to complying with the duty in Section 4 of the Charities Act 2006 to have regard to the public benefit guidance published by the Charity Commission.

ACHIEVEMENTS AND PERFORMANCE

Ahlul Istiqamah Trust-Uk is a registered charity based in London that has been operating since 2015. It has so far managed to provide the community with many services such as lectures and seminars in addition to holding spiritual, educational and cultural events marking important Islamic occasions. Charity has progressed from its humble beginnings of only 3 people as supporters to having hundreds of supporters who attend the numerous regular events it holds weekly, monthly and annually. The primary aim of the Charity is to promote the religious and moral values of Islam based on glorious foundation laid down by the Holy Prophet Muhammad (blessings and peace be upon him).

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AHLUL ISTIQAMAH TRUST-UK

TRUSTEES ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW

The income is generated from donations collected from Muslim people and Muslim organisations, and other legal charitable activities, the incoming resources and resources expended are detailed in the Statement of Financial Activities.

The financial year commenced with total cash and bank balances of £ 357,632. During the year donations of £ 734,610 and Qardh e Hasan of £ 77,000 were received. Resources expended in the year totalled £ 1,096,283. The cash & bank balance at year end is £ 72,959.

PLANS FOR FUTURE PERIODS

A key priority for the coming year would be to renovate the newly purchased building (masjid and community centre) and preparing to move in. Various fundraising efforts have been made to facilitate this move. There will also be a lot of community engagement efforts to be planned to further facilitate community cohesion in the area.

RESPONSIBILITIES OF THE TRUSTEES

The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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AHLUL ISTIQAMAH TRUST-UK

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF AHLUL ISTIQAMAH TRUST-UK

FOR THE YEAR ENDED 31 MARCH 2023

I report on the accounts of the charity for the year ended 31 March 2023 set out on pages 8 to 10.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act), as amended by section 28 of the Charities Act 2006) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view'.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 10 form part of these financial statements.

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2023 2022
Fixed Assets
FA-Property: Plant & Equipment - Cost 4,246 3,301
FA-Property: Plant& Equipment - Cost - Ad&on 945
FA-Property, Plant&Equipment - Depn 1,680 825
FA-Propetty, Plant &Equipment - Depn - Charge 641 855
1.925 22566
FA-Land& Buddings -Cost - b/fivd 17.052 172052
17.052
Current assets
Cash
Bank		 72,959 357.632
72:959 357,632
Creditorsdue witbiu oneyear
Accruals 120
Other creditors 77.000 109.500
Other Taxes and Social Security 43 43
77,043 109.337
Totalassets less current liabilities 1.133.687 486.587
Net assets 486,587
Funds
Restricted
Unresbicted 4862587 35=219
Net (loss) profit 6472101 451.368
1:133.688 486=587
Total funds 1.133.688 486.587

AHLUL ISTIQAMAH TRUST-UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting Policies

1.1. Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005) and the Charities Act 1993, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

1.2 Incoming resources

Voluntary income and donations are included in incoming resources when they are received except when donor’s conditions have not been fulfilled, and then the income is deferred.

1.3 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.

1.4 Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.

1.5 Taxation

The charity is exempt from corporation tax on its charitable activities

1.6 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.

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