2021-12-31-accounts - Darul Uloom Foundation

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DARUL ULOOM FOUNDATION Charity Registration Number: 1166881

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

REPORTING ACCOUNTANTS:

AM ACCOUNTANCY SERVICES

43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111

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FOR THE YEAR ENDED 31 DECEMBER 2021

DARUL ULOOM FOUNDATION

CONTENTS		Pages
Information of financial Statements	:	3
Report of the Executive Committee	:	4 - 5.
Statement of responsibilities of the	Committee:	6
Independent Examiner's Report	:	7
Income and Expenditure Accounts	:	8
Statement of Assets and Liabilities	:	10
Notes to the Accounts		11 -12.

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DARUL ULOOM FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2021

MANAGEMENT COMMITTEE

CHAIR PERSON Mr MD Ayub Ali GENERAL SECRETARY Mr Anor Miah TREASURER Mr Mohammed Nazir uddin ADDRESS 27a Trinidad House Gill Street London E14 8AF BANKER HSBC BANK PLC INDEPENDENT EXAMINER AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111

Charity's Trustees:

Mr MD Ayub Ali Mr Anor Miah Mr Mohammed Nazir uddin

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REPORT OF THE EXECUTIVE COMMITTEE

FOR THE YEAR ENDED 31 DECEMBER 2021

DARUL ULOOM FOUNDATION

The trustees present their report and financial statements for the year ended 31 December 2021.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing the annual report and financial statements of the Charity.

Legal Status:

Charity: Registered with the Charity Commission, Charity Number: 1166881

Objects, Principal Activities and Organisation of the Charity

The Charity's objects are for the benefit of the inhabitants of London Borough of Tower Hamlets, and in particular members of the Muslim Minority Ethnic Communities but exclusively who are in hardship by:

1) The advancement of education in Bangladesh and UK.
2) The relief of sickness and advancement of healthcare in Bangladesh and UK
3) The relief of general poverty and suffering in Bangladesh and UK.

4) Such charitable purpose for the benefit in Bangladesh and UK as are exclusively charitable according to the law of England and Wales as the trustees may from time to time determine.

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REPORT OF THE EXECUTIVE COMMITTEE

DARUL ULOOM FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2021

Organisation:

A Management Committee, the members of which are the trustees manages the affairs of the charity The Management Committee manages the business of the charity including the paying of all expenses

Trustees:

Trustees, who are all members of the executive committee, and who served during the year are set out on page 3.

The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve until the end of the next Annual General Meeting, where they can stand for re- election as members of the new Executive Committee.

Trustees responsibilities in relation to the financial statements

The committee or Trustees are required by charity's law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the Trustees are required to:

The Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and regulations 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:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and accounting estimates that are reasonable and prudent;
Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

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 2011.

The Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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

VOLUNTEERS:

The Trustees wish to record their appreciation on behalf of the Charity and community for the volunteers who . assist in the smooth running of the Charity and are critical in helping to keeps the running costs down

RISK REVIEW:

The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review resulting in a process of ongoing improvement.

All staff and volunteers are trained and have all the required statutory and regulatory clearances required.

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REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021

DARUL ULOOM FOUNDATION

SERIOUS INCIDENTS AND EXCEPTIONS:

The Trustees are pleased to note, that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity’s Exceptions’ Register.

RELATED PARTY TRANSACTIONS:

During the year the Charity was under the control of Trustees and Management Committee members as listed above. This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies.

No members of the management committee received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.

Reserve Policy

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to its expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding. They will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The Centre will actively work to achieve this level of reserves.

INDEPENDENT EXAMINER

According to the provisions of the Charities Act 2008 and updated 2011, the Committee has agreed that and audit is not required for this financial year. However due to provisions of the same act an independent examiner is required and AM Accountancy Services appointed as external Accountant or Independent Examiner.

Transaction and financial position

The Statement of Financial Activities shows net surplus for the year of £34,093 and our accumulated funds stand at £191,286 in total.

AM Accountancy Services carried out an independent examination of the accounts included in the report.

This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005.

Approved by the trustees and signed on its behalf by

This report was approved by the Executive Committee on and signed on their behalf.

……………………… Mr MD Ayub Ali (Chairman) Date:

…………………………..

Mr Anor Miah (General Secretary) Date:

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Accountants’ Report

To the Trustees of

DARUL ULOOM FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2021

We report on the accounts for the year ended 31 December 2021 set out on pages 8 to 12 which have been prepared under the historical cost convention and the accounting policies set out in note 1 to the financial statements.

Respective Responsibilities of Trustees and Accountants

As described on page 5 the trustees are responsible for the preparation of the financial statements, and they consider that the trust is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you.

Basis of Opinion

We conducted our work in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedures provide only the assurance expressed in our opinion.

Opinion

In our opinion:

(a) The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities;
(b) Having regard only to, and on the basis of, the information contained in those accounts:
(1) The accounts have been drawn up in a manner consistent with the accounting requirements specified the Statement of Recommended Practice – Accounting and Reporting by Charities, and
(2) The charity satisfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act.
(3) This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee.

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA

Date:

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DARUL ULOOM FOUNDATION

Statement of Financial Activities (Income & Expense Statement)

FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
2021 2020
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Voluntary income:
Gift Aid 0 0 5,934
Projects 0 0 31,081
All Other General Donations 86,124 86,124 47,060
Interest received 3 3
Total Incoming Resources 86,127 0 86,127 84,075
Resources Expended
Direct Charitable Expenditure
Overseas Projects 42,809 42,809 29,581
UK Projects 1,500
Printing, Postage, Stationery & Advertising 708 708 0
Fundraising cost/Tv Promotions 3,000 3,000 0
Telephone, fax and photocopy 315 315 0
Light, Heat and Water
Cost of Generating Funds
Refreshments
Cleaning
Wages and Volunteer expenses
Events and activities (Project Costs) 0 0 8,000
Direct charitable expenditure 46,832 0 46,832 39,081
Management & Administration Expenses:
Accountancy 1,000 1,000 400
Advertising and promotion 3,000 3,000 3,000
Bank snd credit card charges 709 709 697
Travel 382 382
Legal & Profession 111 111 35
Consultant 0 0 2,200
Depreciation
Sundry
Repairs & Maintenance
Management & Administration Expenses: 5,202 0 5,202 6,332
Total Resources Expended 52,034 0 52,034 45,413
Net Incoming Resources / 34,093 0 34,093 38,662
(resources expended)
Net Movement funds for the 34,093 0 34,093 38,662
period:
Total Funds Brought forward 157,193 0 157,193 118,531
Balance at 31 December 2020 191,286 0 191,286 157,193
----- End of picture text -----

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DARUL ULOOM FOUNDATION

Summary Income and Expenditure Account FOR THE YEAR ENDED 31 DECEMBER 2021

Notes Income Total expenditure Net Surplus (Deficit) for the financial year	2021 £ 86,127 52,034 34,093

There were no recognised gains other than those included in the Income and Expenditure Account for current year.

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DARUL ULOOM FOUNDATION

Statement of Assets & Liabilities ( Balance Sheet) As at 31 December 2021

NOTE Fixed Assets Land & Building 2 Fixture, Fittings and Equipments Current Assets Cash at Bank & in Hand Current Liabilities Amount falling due to one year Interest Free Loan 3 Accruals 4 NET CURRENT ASSETS / (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS: Brought Forward 5 Excess/(Deficit) of income over expenditure Total Funds		2021 £ 520,000 - 169,252 169,252 496,966 1,000 497,966	£ 520,000 328,714 - 191,286 157,193 34,093 191,286 -

The financial statements were approved by the Executive Committee and signed on their behalf:

………………………….. ………………………….. …………………………… Mr MD Ayub Ali Mr Anor Miah Mr Mohammed Nazir uddin (Chairperson) (General Secretary) (Treasurer) Date: Date: Date:

The Notes on pages 10 to 12 form part of the financial statements.

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DARUL ULOOM FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

a. Basis of Accounting

Basis of accounting The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value.

The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).

b. Grants

Revenue grants are credited to the Income and Expenditure account on a receivable basis.

c. Donations

Donation are recorded on a receipt basis.

d. Incoming Resources

Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors' conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.

e. Resources Expended

Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.

Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.

f. Going Concern Basis

The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate.

g. Administration Costs

Administration expenditure includes all expenditure not directly related to the charitable activity.

h. Taxation

As a charity, they are exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

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DARUL ULOOM FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2021 NOTES TO THE ACCOUNTS

2. FIXED ASSETS COST

3. 4. 5.	COST At 01 January 2021 Addition : Purchase of Property Addition : Refurbishments At 31 December 2021 DEPRECIATION At 01 January 2021 Charge for the year At 31 December 2021 NET BOOK VALUE At 01 January 2021 At 31 December 2021 Accountants' remuneration Interest Free Loan Balance at 31 December 2020 Additions during the year Repayments during the year Balance at 31 December 2021 Accruals Accountancy Funds/Capital Balance at 31 December 2020 Balance at 1 January 2021 Excess/ (Deficit) of Income over Expenditure Balance at 31 December 2021	£ - - - - - - - - Fixtures, fittings & Improvements	£ £ - - - 520,000 520,000 - - 520,000 520,000 - - - - - - - - 520,000 520,000 2021 £ 1,000 2021 88,694 413,272 5,000 496,966 1,000 1,000 2021 £ 157,193 157,193 34,093 191,286 Property and Building

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