Registered Charity Number: 1164464
IQRA HELP FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Prepared By:
SF Accountant Limited The Generator Business Centre Unit 20, 95 Miles Road, Mitcham, Surrey CR4 3FH
IQRA HELP FOUNDATION Financial Statements for the year ended 31 December 2023
INFORMATION OF THE FINANCIAL STATEMENTS
MANAGEMENT COMMITTEE
Chairman : Mr. Moulana Shorif Ahmed Trustees: Mr. Ismail Hussain Mr. Jamal Uddin Mrs. Nadiya Begum
Address : Flat 71, Berkeley House 14 Wellington Way London E3 4NQ
Banker: HSBC Bank Plc.
Independent Examiner:
SF Accountant Limited The Generator Business Centre Unit 20, 95 Miles Road, Mitcham, Surrey CR4 3FH
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
| CONTENTS | Page |
|---|---|
| Report of the Executive Committee | 4 |
| Statement of responsibilities of the Committee | 5 |
| Independent Examiner's Report | 6 |
| Income and Expenditure Accounts | 8 |
| Statement of Assets and Liabilities | 9 |
| Notes to the Accounts | 10 |
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31[st] December 2023
The Executive Committee has the pleasure in presenting their report and the Financial Statements reviewed by the independent examiner for the year ended 31[st] December 2023.
GOVERNING
The organisation is managed by Executive Committee according to the organisation's constitution, elected by the general members to oversee the overall activities and to monitor the day to day running of the organisation.
OBJECTIVE OF IQRA HELP FOUNDATION
The main objectives of the organisation are as follows:
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Promoting good physical and mental health and the saving of lives in Bangladesh (in particular but not exclusively for the benefit of children, women, elderly people and orphans) by and through the provision of financial assistance, charitable support, education, accommodation food and medical treatment,
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Relieving those in need in particular but not exclusively the charitable needs of children, women, the elderly and orphans by such means as the trustees see fit with the aim of improving their conditions and quality of life, and by
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Furthering the charitable work of other charities and organisations furthering charitable purposes for the public benefit as the trustees see fit from time to time
THE MANAGEMENT COMMITTEE
The Management committee who serve the Charity during the year were as follows:
Chairman : Mr. Moulana Shorif Ahmed
Trustees: Mr. Ismail Hussain Mr. Jamal Uddin Mrs. Nadiya Begum
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IQRA HELP FOUNDATION Financial Statements for the year ended 31 December 2023
STATEMENTS OF RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE
Law applicable to charities in England & Wales requires the Committee to prepare financial statements for each financial year that give a true and fair view of the charity's financial activities during the year of its financial position at the end of the year which is 12 months. In preparing those financial statements, the Committee is required to:
1. Select suitable accounting policies and apply them consistently;
2. Make judgments and estimates that are reasonable and prudent;
3. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Executive Committee is responsible for keeping accounting records which 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. They 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.
INDEPENDENT EXAMINER
According to the provisions of the Charities Act 1993, the Committee has agreed that an audit is not required for this financial year. However, due to provisions of the same act an independent examiner is required.
SF Accountant Limited will be appointed as an independent examiner for the ensuing year.
APPROVAL
This report was approved by the Executive Committee on 31/10/2024 and signed on their behalf
……………………..
(Chairman)
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
INDEPENDENT EXAMINER'S REPORT ON THE UNAUDITED FINANCIAL STATEMENTS TO THE EXECUTIVE COMMITTEE OF IQRA HELP FOUNDATION
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”). The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed .
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 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.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 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 statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the
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Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form
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and content of accounts set out in the Charities (Accounts and Reports) Regulations
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
2008 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.
• 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.
……………………………………………….
SF Accountant Limited
The Generator Business Centre
Unit 20, 95 Miles Road, Mitcham, Surrey CR4 3FH Dated: 31/10/2024
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[st] December 2023
| Receipts Un-restricted £ Restricted £ Donation received 46,891 Total 46,891 - Less: Payments Donation to Bangladesh 12,180 - Advertisement in TV 400 - Volunteer costs - - Telephone 311 - Stationery - - Card charges 239 Travel 377 - Sundry Accountancy 234 300 - Total 14,041 Excess of Income over Expenditure (deficit) 32,850 - |
Total £ 46,891 46,891 12,180 400 - 311 - 239 377 234 300 14,041 32,850 |
2022 £ 40,040 40,040 19,947 3,500 27 168 33 70 280 - 300 24,328 15,715 |
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
| STATEMENT OF ASSETS AND LIABILITIES AS AT 31st December 2023 NOTE 2023 £££ Current Assets Cash at Bank (Current account) 108,581 Prepayment 21,000 Current Liabilities Amount failing due within one year - Net Current Assets / (Liabilities) Net Assets 129,581 Funds: Reserve B/FWD 96,731 Surplus/deficit 32,850 Total Funds 129,581 …………………….. ……………………………. (Chairman) (Trustee) |
2022 £££ 75,731 21,000 - 96,731 81,016 15,715 96,731 |
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IQRA HELP FOUNDATION
Financial Statements for the year ended 31 December 2023
FOR THE YEAR ENDED 31[st] December 2023 NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
The financial statements have been compiled in accordance with the general directions given by the Charity Commission and with the Statements of recommended Practice.
a. Basis of Accounting
The accounts have been prepared under the historical cost convention of accounting.
b. Grants
Revenue grants are credited to the Income and Expenditure account on a receivable basis.
c. Donations
Donations are recorded on a receipt basis.
d. Depreciation
No Depreciation to be charged on Fixtures and Fittings and Building Construction.
3. Donation to Bangladesh: The foundation transferred the fund to Bangladesh to carry on its charitable activities in accordance to the Constitution of the charity.
4. Prepayment
The charity has made total payment of £21,000 via money transfer for the purpose of donation to Bangladesh. The funds are in the process of being transferred. The trustee will recognise the donation payment once the funds are transferred.
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