## **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.
Page 10 of 12
**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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