REGISTERED COMPANY NUMBER: 09500079 (England and Wales) REGISTERED CHARITY NUMBER: 1166805
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021
for
SAKINA EDUCATION AND SKILLS
Jassal and Company 829 Stratford Road Springfield Birmingham West Midlands B11 4DA
SAKINA EDUCATION AND SKILLS
Contents of the Financial Statements for the Year Ended 31 March 2021
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Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 11
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SAKINA EDUCATION AND SKILLS (REGISTERED NUMBER: 09500079)
Report of the Trustees for the Year Ended 31 March 2021
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 March 2021. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to advance the education of young people for the public benefit by making grants, awards, interest-free loans and mentoring support to students who are financially disadvantaged so that they may access full time education.
Significant activities
During the year the Trustees received applications for grant assistance from individuals and their families.The Trustees assessed the applications and in accordance with the charity's grant making policy, they awarded mentoring support to one individual.
The Trustees introduced funds into the charity and together with the accumulated funds, enabled the charity to purchase a property. The property is undergoing improvements and will be used to generate funds that will support the advancement of education.
The Trustees continued it's work on a marketing plan to raise awareness of the charity and to attract funds.
The Trustees continued to update the charity's strategic plan.
The Trustees are continuing with their fundraising plan to raise funds from external sources.
Public benefit
The Trustees are aware of the Charity Commission's guidance on public benefit reporting as set out in Section 17 of the Charities Act 2011.
The Trustees believe that their objectives and activities to advance the education of young people who are financially disadvantaged is for the general benefit of the public.
Grantmaking
The charity provided a grant to one individual to assist with the advancement of the individual's education. The charity continued to provide mentoring support to individuals to whom funding had been provided in prior years.
FINANCIAL REVIEW
Financial position
During the year the charity received donations and gift aid of £62,540 (2020: £84,585). Total expenditure in the year was £9,207 (2020: £9,813). Net income was £53,333 (2020: £74,772). Total funds carried forward are £126,891 (2020: £73,558)
The charity has cash reserves of £18,535 (2020: £75,984) which the Trustees consider to be sufficient to fund additional grant support.
Fixed assets of £118,861 relate to the purchase of a property. Net current assets amount to £8,030 (2020: £73,558) and total funds carried forward are £126,891 (2020: £73,558)
Reserves policy
The Trustees will review the reserves of the charity on an annual basis and consider the current reserves position of the charity to be adequate.
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SAKINA EDUCATION AND SKILLS (REGISTERED NUMBER: 09500079)
Report of the Trustees for the Year Ended 31 March 2021
FUTURE PLANS
The Trustees will continue to raise awareness of the charity's activities.
They will provide further funds to continue with the charity's objectives.
The Trustees will continue to receive applications for grants from people in need and assess them in accordance with the charity's grant making policy.
The Trustees will continue to maintain the property purchased in the year to enable it to produce charitable income to support the advancement of education.
The Trustees will consider making further investments in capital assets and use the income from such investments to fund grants.
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.
The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 27 November 2014 and amended on 16 March 2016 to reflect a modification of the objects It is a registered charity with the Charity Commission, registered on 28 April 2016.
Recruitment and appointment of new trustees
According to the Articles of Association, the members of the Board of Directors who are also the Trustees of the charity shall be a minimum of one and there is no maximum.
Organisational structure
At the request of at least two Board members, a meeting of the Board is held. All decisions are based on the majority of the Board attending and voting. The quorum for the Board is two Board members. The Board meets regularly to deal with operational and financial developments of the charity.
The Board has established a Financial Advisory Group which reports to the Board on financial matters and a Education Support Advisory Group that reports to the Board on applications and suitability of provision of funding to individuals. Trustees of the Board are assigned to these groups and some also have responsibilities in respect of marketing and communications, fundraising, administration and commercial contracts.
Induction and training of new trustees
New Trustees undergo an orientation day to brief them on their legal obligations under the charity and company law, the content of the Memorandum and Articles of Association, the decision making process, the recent financial performance of the charity, the recent developments and the future plans. During the induction day they meet key officers, stakeholders and other Trustees. Trustees are encouraged to attend external training events relevant to develop their skills and gain experience relevant to their roles and responsibilities.
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SAKINA EDUCATION AND SKILLS (REGISTERED NUMBER: 09500079)
Report of the Trustees for the Year Ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Environment Policy
The Trustees remain fully committed to a practical and cost-effective approach to safeguarding the environment. Priority is given to conserve and make efficient use of energy and the recycling of waste.
Health and Safety Policy
It is the Charity's policy to provide adequate control of the health and safety risks associated with it's activities, to consult with all involved on health and safety matters, to provide information including suitable training and to maintain a safe and healthy working environment.
Risk Management
The Trustees have given consideration to the major risks to which the Charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.
The Trustees acknowledge their responsibility to manage risk associated with the Charity's activities and during the year have considered the major risks that may have a probable or highly probable likelihood of occurring. The areas of consideration included governance, operations, finances, environmental or external factors and the Charity's compliance with the law and regulations.
The Trustees identify risk using various processes including risk assessments. The identified risk is recorded and internal controls identified to manage the risk.
The Trustees consider the overall risk of the charity's activities are low.
Covid-19
The charitable activities of the charity were affected by the Corona virus, in particular fundraising activities were curtailed and with educational establishments closing because of lockdowns, the ability to provide funding was also limited. The charity continued to provide mentoring support to individuals to help them during the pandemic.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
09500079 (England and Wales)
Registered Charity number
1166805
Registered office
829 Stratford Road Springfield Birmingham West Midlands B11 4DA
Trustees
T M Cheema Director F M Cheema Director Dr N M Cheema Director Dr M N Cheema General Practitioner F O Cheema Director
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SAKINA EDUCATION AND SKILLS (REGISTERED NUMBER: 09500079)
Report of the Trustees for the Year Ended 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Jassal and Company 829 Stratford Road Springfield Birmingham West Midlands B11 4DA
COMMENCEMENT OF ACTIVITIES
The charity was incorporated on 19 March 2015 as a company limited by guarantee and was registered with the Charity Commission on 28 April 2016.
Approved by order of the board of trustees on 29 December 2021 and signed on its behalf by:
Dr M N Cheema - Trustee
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Independent Examiner's Report to the Trustees of Sakina Education and Skills
Independent examiner's report to the trustees of Sakina Education and Skills ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
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:
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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.
Rajinder Jassal FCA ICAEW Jassal and Company 829 Stratford Road Springfield Birmingham West Midlands B11 4DA
29 December 2021
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SAKINA EDUCATION AND SKILLS
Statement of Financial Activities for the Year Ended 31 March 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 62,540 EXPENDITURE ON Charitable activities Education support 7,899 Other 1,308 Total 9,207 NET INCOME 53,333 RECONCILIATION OF FUNDS Total funds brought forward 73,558 TOTAL FUNDS CARRIED FORWARD 126,891 |
2020 Total funds £ 84,585 8,600 1,213 9,813 74,772 (1,214) 73,558 |
|---|---|
The notes form part of these financial statements
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SAKINA EDUCATION AND SKILLS (REGISTERED NUMBER: 09500079)
Balance Sheet 31 March 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 118,861 CURRENT ASSETS Cash at bank 18,535 CREDITORS Amounts falling due within one year 6 (10,505) NET CURRENT ASSETS 8,030 TOTAL ASSETS LESS CURRENT LIABILITIES 126,891 NET ASSETS 126,891 FUNDS 7 Unrestricted funds 126,891 TOTAL FUNDS 126,891 |
2020 Total funds £ - 75,984 (2,426) 73,558 73,558 73,558 73,558 73,558 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.
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 29 December 2021 and were signed on its behalf by:
M N Cheema - Trustee
The notes form part of these financial statements
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SAKINA EDUCATION AND SKILLS
Notes to the Financial Statements for the Year Ended 31 March 2021
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
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SAKINA EDUCATION AND SKILLS
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
3. AVERAGE NUMBER OF EMPLOYEES
Average number of employees for the period 0 (2020- 0).
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 84,585 |
| EXPENDITURE ON | |
| Charitable activities | |
| Education support | 8,600 |
| Other | 1,213 |
| Total | 9,813 |
| NET INCOME | 74,772 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (1,214) |
| TOTAL FUNDS CARRIED FORWARD | 73,558 |
5. TANGIBLE FIXED ASSETS
| COST Additions NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
Improvements Freehold to property property £ £ 100,762 18,099 100,762 18,099 - - |
Totals £ 118,861 |
|---|---|---|
| 118,861 | ||
| - |
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SAKINA EDUCATION AND SKILLS
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Accrued expenses | 10,505 | 2,426 | ||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.20 | in funds | 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 73,558 | 53,333 | 126,891 | |
| TOTAL FUNDS | 73,558 | 53,333 | 126,891 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 62,540 | (9,207) | 53,333 | |
| TOTAL FUNDS | 62,540 | (9,207) | 53,333 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.4.19 | in funds | 31.3.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (1,214) | 74,772 | 73,558 | |
| TOTAL FUNDS | (1,214) | 74,772 | 73,558 | |
| Comparative net movement in funds, included in the above are | as follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 84,585 | (9,813) | 74,772 | |
| TOTAL FUNDS | 84,585 | (9,813) | 74,772 |
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SAKINA EDUCATION AND SKILLS
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.4.19 in funds 31.3.21 £ £ £ (1,214) 128,105 126,891 (1,214) 128,105 126,891 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 147,125 | (19,020) | 128,105 |
| TOTAL FUNDS | 147,125 | (19,020) | 128,105 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
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