## **COMPANY NUMBER: 09358840**
## **ILM FOUNDATION**
## **DIRECTOR'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **ABU & ABU**
## **CHARTERED CERTIFIED ACCOUNTANTS**
**ABU NOWSHED CENTRE 71 WORDSWORTH ROAD**
**SMALL HEATH, BIRMINGHAM B10 0ED WEST MIDLANDS**
**ILM FOUNDATION**
## **COMPANY INFORMATION**
|**Company Number:**|09358840|
|---|---|
|**Director:**|Mohammed Tosir Miah|
|**Registered Office:**|Ilm Foundation|
||Bisley Works|
||Golden Hillock Road|
||B11 2PY|
|**Accountants:**|Abu & Abu|
||Chartered Certified Accountants|
||Abu Nowshed Centre|
||71 Wordsworth Road|
||Small Heath, Birmingham|
||B10 0ED|
||West Midlands|
|**Bankers:**|Lloyds Bank PLC|
**ILM FOUNDATION**
## **REPORTS AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' Report|1|
|Accountants Report|3|
|Abridged Profit and Loss Account|4|
|Abridged Balance Sheet|5|
|Notes to the Abridged Financial Statements|6|
|Detailed Profit and Loss Account|8|
|Detailed Overhead Expenses Schedule for Directors|9|
## **ILM FOUNDATION**
## **DIRECTOR'S REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The director presents his report and the financial statements for the year ended 31 December 2022.
## **Principal activities**
The principal activity of the company continues to be that of providing primary Islamic education and facilitating prayer faciliti for residence.
## **Directors**
The director who served during the year was as follows:
Mohammed Tosir Miah
## **Review of the Business**
The directors consider the profit achieved on ordinary activities before to be particularly satisfactory given the Covid 19 pandemic. climate.
## **Responsibilities of the director**
The trustees (who are also directors of the charity for the purposes of company @Hanging2@law)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).
Company law requires the trustees to prepare financial statements for each financial year , which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
-
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the
financial statements;
- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 1
## **ILM FOUNDATION**
## **DIRECTOR'S REPORT** (Continued)
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
This report was approved by the board on 15 Septmber 2023 and has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
................................ Mohammed Tosir Miah
Page 2
**ACCOUNTANT'S REPORT**
## **TO THE DIRECTOR**
## **ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF**
## **ILM FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
As described in the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2022 set out on on pages 4 to 7 and you consider that the company is exempt from a report under section 477(1) of the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
........................................ Dated:15 September 2023 Abu Nowshed, FCCA Chartered Certified Accountants Abu Nowshed Centre 71 Wordsworth Road Small Heath, Birmingham B10 0ED West Midlands
Page 3
## **ILM FOUNDATION**
## **ABRIDGED PROFIT AND LOSS ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
||**Note**|**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
|**Gross profit**||187,724|209,879|
|Administrative expenses||(185,662)|(157,001)|
|||**––––––––**|**––––––––**|
|**Profit on ordinary activities**||2,062|52,878|
|**before taxation**||||
|Tax on profit on ordinary activities||0|0|
|||**––––––––**|**––––––––**|
|**Profit for the financial year**||£ 2,062|£ 52,878|
|||**––––––––**
|**––––––––**
|
The company has made no acquisitions nor discontinued any operations during 2022 therefore turnover and operating profit derive entirely from continued operations.
Page 4
## **COMPANY NUMBER:09358840**
## **ILM FOUNDATION**
## **ABRIDGED BALANCE SHEET**
## **AT 31 DECEMBER 2022**
|**Note**
**2022**
**£**
**Fixed assets**
Tangible assets
2
**Current assets**
Cash at bank and in hand
86,088
**Creditors**
Amounts falling due within
one year
(960)
**–––––––**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Capital and reserves**
Profit and loss account
**Shareholders' funds**
|
**2021**
**£**
**£**
123
83,695
(660)
**–––––––**
85,128
**–––––––**
85,251
**–––––––**
£ 85,251
**–––––––**
85,251
**–––––––**
£ 85,251
**–––––––**
|
**£**
154
83,035
**–––––––**
83,189
**–––––––**
£ 83,189
**–––––––**
83,189
**–––––––**
£ 83,189
**–––––––**
|
|---|---|---|
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 15 Septmber 2023 and signed on its behalf.
................................................... Mohammed Tosir Miah
The annexed notes form part of these financial statements.
Page 5
**ILM FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## 1. **Accounting policies**
## **Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below.
These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
## **Cashflow statement**
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.
## **Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and Machinery - 20% per annum of cost Fixtures and Fittings - 20 % per annum of cost
Page 6
## **ILM FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** (Continued)
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## 2. **Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Total**|
||**£**|
|Cost:||
|At 1 January 2022|1,204|
||**–––––**|
|At 31 December 2022|1,204|
||**–––––**|
|Depreciation:||
|At 1 January 2022|1,050|
|Charge for the year|31|
||**–––––**|
|At 31 December 2022|1,081|
||**–––––**|
|Net book value:||
|At 31 December 2022|£ 123|
||**–––––**
|
|At 31 December 2021|£ 154|
||**–––––**
|
Page 7
## **ILM FOUNDATION**
## **DETAILED TRADING AND PROFIT AND LOSS ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|||**2022**|||**2021**||
|---|---|---|---|---|---|---|
||**£**||**£**|**£**||**£**|
|**Turnover**|||||||
|Fund Raising Events|||6,977|||0|
|Tuition fees|||172,657|||209,879|
|Building Donation|||8,090|||0|
|||**––––––––**|||**––––––––**||
||||187,724|||209,879|
|**Overheads**|||||||
|Other Administrative Costs|185,662|||157,001|||
||**––––––––**|||**––––––––**|||
|||(185,662)|||(157,001)||
|||**––––––––**|||**––––––––**||
|**Profit on ordinary activities**||£|2,062||£|52,878|
|||**––––––––**
|||**––––––––**
||
Page 8
## **ILM FOUNDATION**
## **SCHEDULE OF OVERHEAD EXPENSES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|||**2022**||**2021**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**Other Administrative Costs**|||||
|Wages and salaries|122,007||87,599||
|Rent rates and service costs|49,132||51,969||
|Utilities costs|6,998||5,257||
|Property repairs and maintenance|1,081||5,100||
|Travel and subsistence|0||792||
|Advertising and Marketing|374||110||
|Telecommunications|1,732||387||
|Printing, stationery & postage|1,308||3,605||
|Cleaning|265||0||
|Bank charges|0||497||
|Project activities|1,350||0||
|Accountancy|1,384||924||
|Depreciation|31||761||
||**–––––––**||**–––––––**||
|||185,662||157,001|
|||**–––––––**||**–––––––**|
|**Total overhead expenses**||£185,662||£157,001|
|||**–––––––**
||**–––––––**
|