2023-03-31-accounts - Baytul Ilm Trust

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Baytul ilm Trust

Report and Accounts

For The Year Ended

31 March 2023

Charity Number: 1164154

Baytul ilm Trust For year ended 31 March 2023 Contents

	Page
Charity Information	3
Report of the Trustees	4 to 7
Report of the Accountant	8
Statement of Financial Activities	9
Balance sheet	10
Notes to the Financial Statements	11 to 12

Baytul ilm Trust For year ended 31 March 2023 Charity Information

Other names	Baytul ilm Milton Keynes (Working Name )
Trustees:	SHK Muhammad Miah	Chairman
	SHK Mohammed Abdus Salam	Trustee
	SHK Nurul Amin	Trustee
Charity Number:	1164154
Principal Office:	12a Clarke Road
	Bletchley
	Milton Keynes
	MK1 1LG
Accountant:	Vertex Accountants
	McKenzie House (Top Floor)
	110-112 Leagrave Road
	Luton
	Bedfordshire
	LU4 8HX
Bank:	Barclays Bank Plc
	Milton Keynes
	MK9 2LD

Baytul ilm Trust

Trustees report for the year ended 31[st] March 2023

_________

The trustees are pleased to present their report together with the financial statements of the charity for the year ending 31[st] March 2023.

The board of trustees are satisfied with the performance of the charity during the year and the position at 31[st] March 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

Objectives and Activities of the charity

Charitable objectives:

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 ahle sunnah wal jamah hanafi school of thought;
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 provision of food, clothing, and accommodation for the said persons;
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 educational activities and facilities, such as schools, libraries and training centres.
To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

 Public benefit statement

The trustees confirm that they have paid due regard to the guidance given by the charity commission on public benefit.

Baytul ilm Trust

Trustees report for the year ended 31[st] March 2023

_________

Strategies for achieving the year's objective

The charity implemented key action plans to help achieve its aims for the year:

Maintain an active campaign of advertising and continued attendance at Islamic institutions and functions by the trustees. Staff promoted the activities of the charity locally as well as at the regional level.
Continued review of key improvements necessary to existing facilities and undertake the necessary to existing facilities, furthermore undertake the necessary repairs and improvements.
Continue to update policies on governance.
Improved community relations.
Participate in activities organised by local council, prevent, police and other faith groups.
Active promotion of British Values.
Improve health and safety
Participate in national events to promote the activities of the charity.

The contribution of volunteers

The charity uses the service of volunteers in a number of ways:

To assist in raising the profile of the charity
To assist in maintaining records of the charity.
To assist with the development of the charity.
To provide teaching support.
To maintain the buildings

Achievements and Performance of the Charity

The charity continued to improve facilities available to students.
British Values and participation in public life.

Review of charitable activities undertaken by the charity

The main activities during the year were:

Provision of religious education to girls and boys in accordance with Islamic faith.
Further enhancement of teaching materials and resources to maximise learning.
Further enhancement of learning facilities.
Increasing awareness of the trust and the services it provides.
Facilitate community counselling and advice on local issues and needs.

Baytul ilm Trust

Trustees report for the year ended 31[st] March 2023

_________

Structure, Governance and Management

Nature of governing documents and constitution of the charity

The charity is an unincorporated association governed by a trust deed. Eligibility for membership of the charity and membership of the board of trustees is governed by the trust deed. There are no restrictions in the governing document on the operation of the charity or on the investment powers, other than those imposed by general charity law.

Recruitment and appointment of new trustees

New Trustees are appointed by invitation based upon the specific requirements and the skill set needed by the charity to help advance the charitable objectives.

Induction and training of trustees

We have at the moment no policy or procedure for the training of trustees, other than the "do's and don’ts" publication provided by the charity.

Organisational Structure and management

Trustees meet regularly on a termly basis to discuss and plan objectives and implementation thereof. Matters of general concern are raised with all members. Day to day management and responsibility for implementing policies. The Trustees undertake all final decisions with implementation being delegated amongst each other.

Membership of a wider network

The charity has no responsibility for, neither is it answerable to any other organisation.

Related Parties

Other than the trustees and those persons connected with them, there are no individuals who are related parties. Details of transactions with related parties are shown in the notes to the accounts. This includes remuneration and expenses paid to Trustees.

Risk Management

The trustees acknowledge their responsibilities for establishing a risk management system and satisfied that appropriate systems and procedures are under development and continue to keep strategic business and operational risk under review with view to introducing, where necessary, additional procedures to mitigate these risks.

Reserves Policy

The trustees have resolved to establish over the next few years reserves to provide for future activities, and to provide funding for the expected expenditure for four months ahead. Current reserves are adequate based on our knowledge and experience.

Baytul ilm Trust

Trustees report for the year ended 31[st] March 2023

_________

Principle funding sources and how expenditure in the year under review has supported the key objectives of the charity

The principle income was generated through the provision of education in accordance with the objectives of the charity. The principal expenditure related to the cost of providing education.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Financial Review

The trustees consider the financial performance by the charity during the year to have been satisfactory.

The statement of financial activities shows incoming resources for the year of a revenue nature of £129618.00 The total unrestricted reserves at the year-end stand at £283804.00

Statement of Trustees' Responsibilities

The Charities Acts require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the board were required to:

Select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner/auditor in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

This report was approved by the board of trustees on 19/01/2024.

SHK Muhammad Miah

Chairman

Report to trustee on preparation of the unaudited accounts of Baytul ilm Trust For year ended 31 March 2023 Charity No: 1164154

Independent Examiners Report on the Accounts

Report to the trustees/member of: Baytul ilm Trust On accounts for year ended: 31 March 2023 Charity No: 1164154 Set out on pages: 3-7

Respective responsibilities of trustees and 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 44 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. I am qualified to underake the examinatiom by being a Practising member of the Association of Certified Public Accountants.(ACPA) It is my responsibility to:

examine the accounts under Section 145 of the Charities Act.
to follow the procedures laid down in the general directions give by the charity Commission (under section 145(5)(b) of the Charities Act) and
to state whether particular matters have come to my attention.

Basis of independent examiner's statement

Our examination was carried out in accordance with general directions given by the Charity Commission. An examination includes review of the accounting records kept by the charity and a comparison of the accounts pesented with those recods. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner's statements

In connection with my examination, no matter has come to my attention which gives me any reasonable cause to believe that, in any material respect, the requirements have not been met:

to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord the accounting records and comply with the accounting requirements of the 2011 Act

Vertex Accountants

McKenzie House (Top Floor) 110-112 Leagrave Road Luton Bedfordshire LU4 8HX

Baytul ilm Trust STATEMENT OF FINANCIAL ACTIVITIES For year ended 31 March 2023

Notes Incoming Resources 2 Grant and Donations Parental Contributions & Students Fees Other charitable Activities HMRC JRS & BFC Grants Total incoming resources Resources Expended 3 Cost of charitable Activities General Overhead Governance costs Total resources expended Net incoming/(outgoing) resources before transfers Gross transfers between funds	Unrestricted Funds £ 15,032 91,756 22,831 - 129,619 70,793 9,795 720 81,308 48,311	Restricted Funds £ - - - - - - -	Total Funds 2023 £ 15,032 91,756 22,831 - 129,619 70,793 9,795 720 81,308 48,311	Total Funds 2022 £ 12,202 92,900 - 5,530 110,632 53,190 6,184 720 60,094 50,538

Net incoming/(outgoing) resources before other recognised gains/(losses)

Other recognised gains/ (losses)

Gains and losses on revaluation of fixed assets for the charity's own use

Gain and losses on investment assets

Net movement in funds Reconciliation of Funds: Total funds, brought forward Total funds, carried forward	48,311 235,493 283,804	- - -	48,311 235,493 283,804	50,538 184,955 235,493

The net movement in funds referred to above is the net incoming resources as defined in the statements of recommended practice for of Accounting and Reporting issued by the Charity Commission for England &Wales and is reconciled to the total funds as shown in the Balance Sheet on page 9 as required by the said statement.

All activities derive from continuing operations The notes on pages 11 to 12 form an integral part of these accounts

Baytul ilm Trust Balance Sheet as at 31 March 2023

----- Start of picture text -----
2023 2022
Notes £ £ £ £
The assets and liabilities of the charity:
Fixed Assets
Tangible assets 5 387,308 381,788
Total fixed assets 387,308 381788
Current Assets
Debtors 6
Cash in hand and at Bank 93,435 103,576
Creditors
Amounts falling due within one year 7 176 - 754
Net Current Assets 93,611 102,822
Total assets less current liabilities
Creditors:amounts falling due
after more than one year 8 - 197,115 - 249,115
Total Net Assets 283,804 235,494
Total Funds of the Charity
Unrestricted funds 283,804 235,494
Total charity funds 283,804 235,494
----- End of picture text -----

These Accounts were approved by the Trustees on 19 January 2024.

......................................... SHK Muhammad Miah Chairman

SHK Muhammad Miah

SHK Nurul Amin

Trustee

The notes on pages 11 to 12 form part of these accounts

Baytul ilm Trust Notes to the Accounts For the Year Ended 31 March 2023

1. Accounting Policies

Basis of preparation of the accounts

These financial statements have been prepared on the basis of historic cost in accordance with Accounting nad Reposting by Charities, Satement of Recommended Practice (SORP 2005) and with the Charities Act 2011.

The charity has taken advantage of the exemption in the FRSEE from the requirement to produce cashflow statement.

Incoming Resources

Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

. the charity becomes entitled to the resources;

. The trustees are virtually certain they will receive the resources; and

. the monetary value can be measured with sufficient reliability.

Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.

Volunteer helpThe value of voluntary help received is not included in the accounts but is described in the trustees' annual report.

Investment income

This is included in the accounts when receivable.

EXPENDITURE AND LIABILITIES

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 ofresources. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trutee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Fixed assets and depriciation

All tangible fixed assets are capitalised if they can be used for more than one year and are stated at cost less depriciation. Items of less than £1000 are not capitalised.

Depriciation has been provided at the following rates in order to write off the assets (less their estimated residual value) over their estimated usual economic lives.

Freehold property 2% straight line Vehicles 25% straight line Plant and machinery 25% reducing balance

A regular annual review of the likelihood of the asset impairment is undertaken.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Funds structure policy

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Restricted funds can only be used for particular restricted purposes within the objects of the charity.

*2 Incoming resources* General Donations *Charitable activities* Parental Contributions & Students Fees HMRC JRS GRANT *Charitable activities* Gross Salaries / Staff Cost Events and activities Premises Cost Rent & Rates Training & Welfare Light & Heat Repairs and maintenance Pensions Insurance Administrative expenses Materials & Teaching Aids Telephone and fax Advertising and PR Other legal cost Depreciation Governance Costs Accountancy / Internal Examiner 4. Staff Costs and Emoluments Gross Salaries 5.Tangible fixed assets Freehold Property Plant & Machinery Motor Vehicles Asset cost,Valuation or revalued amount At 01 April 376316 11736 7000 Additions 0 5520 Revaluation At 31 March 376316 17256 7000 Accumulated depreciation and impairment provisions At 01 April 13264 Charge for the year 0 0 0 At 31 March 13264 0 0 Net book value *All assets are used for charitable purposes* amountsfalling due after one year Qurze Hasana Qarze hasana is unsecured and interest free money loaned to the charity by member of the public no fixed repayment term. Tangible fixed assets Current assets Current liabilities Long term liabilities Total Funds The restricted reserve relates to appeals made for bulding purchases to be used by the charity or for investment purposes. 12	2023 £ 15032 114586 0 129618 63227 1927 65154 647 0 7745 4392 159 1089 14032 901 502 0 0 0 1403 720 40119 2023 395052 5520 400572 13264 0 13264 387,308 197115 197115 387308 93435 176 -197115 283804	2022 £ 12202 92900 5530 110632 40119 6460 46579 0 0 3457 2289 0 979 6725 0 438 300 4341 0 5079 720 40119 2022 393,252 1800 395052 13,264 0 13264 381788 249,115 249115 381788 103576 -754 -249115 235,495

9. Related Party Transactions.

No fees or expenses were paid to trustees or persons connected with them.