DARUL ULOOM FOUNDATION Charity Registration Number.. 1166881 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORTING ACCOUNTAN7S.. AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAO LONDON E1 4SA TEL. 020 7790 6111 Page 1 0112 DARUL ULOOM FOUNDATION FOR THE YIAR ENDED 31 OECEM8ER 2023 CONTENTS Pages Information ol Iinancial Slalemenls Report Df the Ex&cutive Cofnmiiiee Stalemeftl of responsibilitie9 01 the Committee. Indèpendent Examiner's Report Income and Expenditure Acwunts Slatemenl ol A$5ets and Liabilities 10 Notes lo the Accounts Page 20112 DARUL ULOOM FOUNDATION FOR THE YEAR ENDED 31 DECEM8ER 2023 MANAGEMENT COMMITTEE CHAIR PERSON Mr MO Ayub Ali GENERAL SECRETARY Mr Anor Miah TREASURER Mr Mohatnmecf Nazir uddin ADDRESS 27a Trinidad House London E148AF BANKER HSBC BANK PLC INDEPENDENT EXAMINER AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON EI 4SA TEL." 020 7790 6111 Charit .5 Trustees: Mr MD Ayut> Ali MrAnor Miah Mr Mohammed Nazir uddin Page30112 DARUL ULOOM FOUNDATION REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees present their report and financial slalernents lor the year ended 31 December 2023 The Truslces hiive adopted the provisions of tlie Staicfftcnt of Recoininended Piactice (SORPI Accounting and Reportiiig by Charities issued iii 2005 in preparing tlic aiinual ieport and financial staieinenis of tlie Charity. Chaiity.. Retsistered with the Chc1rity Commission, CliaL ity NuiiTrber'. l 1668 81 Obj ects, Principal Activities ¢ind Org41nisation of tlie Chi< rity The Charity'5 L)bjecls are for the bciiefil ofthe inhabitants of Londoii Borough of Tower Hamlets, and in particiilai. members of Ihe Muslim Minority Eihnic Con)niuiiities biit exclusivcly ¥vlio are in hardship by". l) Th¢ advanceinenl ofeducatioii iii Bangladesh and UK. 2) I'he rclief of 51ckncss and adv¢inLement of healihcare in Baiigladesh and UK J) The rclief ofiTeneral po)verty and sulleriiig in Ban8ladt511 and UK. 4) Siich charitable purpose for Ilie beneFIt in Ban(Jladcsh aiid UK as aw excliisivcly charitable aLCOI"diiig lo the l&iiV of Li)uli¢ lid aiid W¢ilcs Js tlie ti'iisleL> Inay froni Iiiiie to liine detei'iiiine. Page4 0112 DARUL ULOOM FOUNDATION REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEDhBER 2023 Or2anisation: A Managemeni Commitle?, the members ol which are the Iru51eès tnanages the alla￿r3 ol the charity The Management Cofflrnitlee manage> Ihè business ol the charity including the paying ol all expenses Trustees: Trusiees, wlio are all meInber5 0( tlie eiecutlvc coiiiniitiee, and who served during the year are set Dul on parye ). The trustees are elected at Ihc Annual General Mi eeiing, for membership of thc Executive CommitÉee and seive iiiitil Ihe eiid of the next Annual CJeneial Meeting. whcre they cali stand For re- election as Inem1￿[S of the iiew Executive Commltlee. -rrustees respo¥Jsibililies ID rel&l lion to th e linanci4215t47tcmcnts -rhe commiltee or Tiustees ale iequirEd by ch&iily's lic w lo prepare financial slaleinen15 for eacli financial yeai kvhich give a tFiic ai)d fair view of Ihe fii)aiicial aciivifies of rhe cliarity and of ils fiiiancial positlol) , the Tiuslees are required lo Sele¢l suitable a¢¢oLinting policies and then apply them consislenlty, Observ" the methods and pnnciples In the Charitie5 SORP", Make judgements and accounting estimate> ￿al are reasonable and piudeni". Prepare the Financial Slalemenls on the going concern ba51s unless il is inappropriate to p￿SuMe that the charity wi11 continue in operabon The Tiuslees are responsible lor keeping proper accounting records that disclose with reasonable accuracy al any tirne Ihe financial posibon ol the charity and enable them to ensure that the Financial Slalemenls comply with the Charities Act 2011. Thè Chaiity (Accounls and Reports) Regulations 2008 and the provisions of Ihe trust deed. They afe also responsible for safegtjarding the assets ol thè chaiily and hence lor taking reasonable steps for the prevention and detection ol fraud and other irregularities VOLUNTEERS.. The Trustees wish lo record their appreciation on behalf of the Charily and ¢D[D￿u￿1lY for the vDlufileers who assist in the smooth running of the Charity and are cribcal in helping to keeps Ihe running costs down RISK REVIEW.. The Trustees havo conducted their own review of the major risks lo which the Charity Is eKposed and steps have been Initiated lo miniffl15e the identified risks. All functions of the Charity are subjected to periodic ieview resulting in a proce55 of ongoir)g improvement All staff and volunteers are trained and have all the required 5talutory and regulatory clearances required. Pa9e50112 DARUL ULOOM FOUNDATION REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDEO 31 DECEMBER 2023 SERIOUS INCIDENTS AND EXCEPTIONS.. The Trustees are pleaseLf lo nole, that there were no incidents which gave nse to the need lor 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 lor the Tru51ees ID record on the Charity s Exceptions. Register RELATED PARTY TRANSACTIONS.. During the year the Charity was under Ihe colllrol of Tru51ees aod Mana9emeni Cotnrrillee mÈmbet5 3s listed above. This reporl. which has been prepared In accordance with the spècial piovisions of Part 15 of the Companie5 Act 2006 applicable to small companies No members of the fflanagement cofflrnillee rèceived any remuneration during the year No Iruslee or other peison relatèd 10 the charity had any pef8onal Inleresl in any contract or transaction entered into by the chanly during the year. Reserve Policy It is the policy of the d)arily that unrestncted funds, which have not been designated lor a specific use. shoulrj be fflaintained al a level equivalent to 115 expenditure The Trugtees Gonsi(ler th81 reserves al ￿18 level will ensure that. in the event of a significant drop ift Fundin9. They will be able I continue Ihe chziity'5 current aciivilies while con51deralion is given lo ways in which additional luTrd5 may be raised. The Centre will actively work to achieve this level ol reserves. INDEPENDENT EXAMINSR According lo the provisions ol the Charities Act 2008 and updated 2011. the Committee has agreed that and audit Is nol required lor this financial year However due lo provision5 01 the same acl an independent examiner l) required and AM AccoLinlancy SeNices appointed as external Accounlanl or Independent Exarniner. Transaction and ITndnci2£ I position Thp Slalement of Financial Activities shows nel Sufplus loi the year or £76,131 and our accumulated funds sland al £283.302 In lolal. AM Accountancy Service5 carried out an independent examination of the accounts included in the report. This report. which has been prepared in accordance with the Statement of Re￿Mmended Practs'ce ISORPI Accounting ancl Reporting by Charities 15sued in 2005. Approved by the trustee5 and signed on tts behalf by This report was approved by the Executive Committee on and si9ned on their behalf. Mr MD Ayub Ali Ichairfflanl Dalp. Mr Anor Miah IGeneral Secretary) Date.. Page6 of 12 Accountants. Report 'ro Ihe Trustees of DARUL ULOOM FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2023 We report on the accounts for tFie year ended 31 December 2023 sel out on pages 8 to 12 which have been prepared under th8 historical cost convention and the accounting policies sel oui In note 1 to the financial 518lemenls Rcqpective Resi)onsibililies of "friistees 4?nd Acc(Junt#nt8 As dLscribed on pagc S the Iriist¢¢s arc respoiisible foi thL preparalioii ofihe financial statcinents. and they consider Ihlenl with the acLounling reouirement5 specified the Slalemenl of Recommertdecl Piaclice- Accounting and Reporting by Charities. arid 121 The charity satisfied the conditions for the exemplion from an au(Sil of the accounts lor thè year specified in the Chariiies Act. 131 Thi5 unaudited Account we have prepared In accordance with the figure. inft)rmation and explanation we have received Irom the tnanagemenl of the cuirenl commillee AM ACCOUNTANCY SERVICES 43 8EN JONSON ROAD LONDON E1 4SA 'I'£L.. O-PO 7790 6111 ,,l.. fi70 7790 sn", I Page 7 of 12 DARUL ULOOM FOUNDATION Statement of Financial Activities Ilncome & Expense Statement) FOR THE YEAR ENDED 31 DECEM8ER 2023 2023 Total 2022 Notes Unrestricted Reslricled Incoming Resources Voluntary Income.. Gill Aid Projects All Olher Gèneral oonab.ons Interest received Rental Income 3,157 3.157 1.510 71.418 71.418 89,057 38.200 36,200 3.100 Total Incomin Resources 110.775 110,775 93.667 Resources Expended Dlre¢t Charitable Expenditure Overseas Projec15 UK Project5 Prinling, Postage. Slalion8ry & Advert151ng Fundraising coslsl Piomolion5 Rent, Rates 2nd service chargas Telephone. fax and photocopy Light. Hèal and Waler Computer l Hosting Fpes Insurance Cleaning Wages and Volunieer expensès Eveii15 and activities (Project Cuslsl 18,008 2,536 195 4.275 1,458 18,008 2.536 195 4,275 1.458 6.482 1.244 220 2.275 72 2.007 2.007 380 Direcl charitable expendiiure 28,859 28,859 64.757 Management & Administration Expense5'. Accountancy Advertising and promotion Bank charges Travel Legal & Profession Consultant Deprèciation Sundry airs & Maintenance ement & Administration Ex 1.000 1.000 1.000 915 58 155 2.600 915 58 155 2,600 725 8,450 2,850 1.057 5.785 1,057 5,785 Mana enses. 13,025 Total Re50urce5 Ex ended 34,644 34.644 77,782 Net Incorning Re$ources I Iresource5 expended) 76,131 76,131 15.885 Net Movement funds for the perlod.. 76,131 76.131 15,885 Total Funds Brought forward 207.171 207,171 191,286 alance at 31 December 2023 283,302 283,302 207,171 Page80112 DARUL ULOOM FOUNDATION Summary Income and Expenditure Account FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Notes Income Total expenditure Net Surplus (Delicitl lor the linancial year 110,775 34,644 76,1J1 There were no recognised gain5 other than Ihose included in the Income and Expenditure Account for currenl year. Page9of 12 DARUL ULOOM FOUNDATION statement of Assets & Liabilities { Balance Sheet As at 31 December 2023 2023 NOTE Fixed Assets Land & Buildin9 771,600 771.600 Currenl Assets Cash al Bank & in Hand Other Oebtor 62,709 6,654 69.363 Current Liabilities Amounl falling due to one yèar Inlere5t Fre8 Loan Acciuals 555.261 2.400 NET CURRENT ASSETS I ILIABILITIESI 488.298 TOT AL ASSETS LESS CURRENT LIA8ILITIES 283,302 FUNOS.. BroL¢ght Forward 207.171 Exces81(Deficill of Income over expendiwrè 78.131 Tolal Funds 283,302 The linancial slaleirents were approved by the Executive Commillee and 51gned on Iheif behalf Mr MD Ayub Mi Ichairpersonl Mr Anor Miah (General sec￿lary) Mr Mohammed Nazir uddin Irreasurerl Date. i Glio Dète". Oate" The Notes on pages 10 10 12 forrn part DI the financial 5181emenls. Page 10of 12 DARUL ULOOM FOUNDATION FOR THE YEAR ENDED J1 DECEMBER 2023 NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES Basis of A¢courtting 8asis of accounting The Financial sl8lement5 have been prepared under the histoncal cost convention. ag modified by the revalualion of certain fixed asset5 and investments measured at market valve. The Financial Slalemanls have been prepared in accordance with the FinanGial Reporting Standard lor Smaller Entities lellective January 20151. and Ihe requirptnent5 01 Accounting and Reporting by Charities.. S131eTnenl of Recommended Practicè applicable lo chai Ilies preparing Iheii accounts in accoidance wilh Ihe Financial Reporting Standard for Srnaller Enlilies lelfÈciive January 20151 ISORP 20151. b. Grants Revenue grants are credited lo Ihe Income and Expenditure account on a ieceivable basis. Oonations Oonalion are recorded on a receipt basis. d. Incoming Resources Voluntary income and donafiong are included in incorning resour¢e5 when they are receivable, eKcepl when thè donors specify Ihal they must bp used iri future accounting periods 01 donors. conditions have not been lulfilled, then the income is dolarred. The income from lundraising ventures IS )hown gross. with the associated costs Induded in funoraising costs. Resources Expended Resoufces expended are Included In the Slalement ol Financial Activities on accruals basis, inclusive ol any VAT thal cannol b& recov&red Expenditure Ihal is directly allfibuLable to specific activities has been Included In these c051 calegories. Where costs ale aitribuiable to tnore than one aolivity. they have been apPo￿oned acr055 Ihe cost ¢ale9ories on a basis consislenl wilh Ihe use of Ihose resource5. f. Going Concern Basis The financial stzlements have been prepared on the going concern basis. as in the opinion of the Iruslees, therè are no Issues arising which would suggest any olher basis as being more appropriate g. Administration Costs Administralion expenditure includes all expen¢iture not directly related to the chafltab1e activity. h. Taxation As a charity. they are exetnpt Irom tax on income and gains falling within section 505 of the Taxes Aci 1988 or s256 01 the Taxation ol Chargeable Gains Act 1992 to the exleni that these are applied lo ils charitable objects. No lax charge5 have arisen in the Charity. Page11ot12 DARUL ULOOM FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Nel Surplus of the Financial Year The excess of expendsture over Income is 51alèd aftBr charging. 2023 Accounlant5' remunerab.on 1.000 Inl?rest Free Loan 2022 BalanTr 3131 December 2022 806.466 Additions during the year 45,360 Repayments during the year 96.565 8alance at 31 OeTrmber 2023 555.261 Accrua15 A￿oUntancY 2,400 2.4QO Fund51Capital 2023 Balance at 31 December 2022 207 171 Balance al 1 J8nuary 2023 207,171 Excess1 (Delicill ol Income over EKpenditure 76.131 Balance 3131 December 2023 28J,302 Page 120112