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← Quba Initiative

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1169490

QUBA INITIATIVE

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Riley Moss 2018 Limited Citygate Longridge Road Preston Lancashire PR2 5BQ

QUBA INITIATIVE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 9

QUBA INITIATIVE

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees Nidah Tahir (resigned 18.5.24) Aishah Choudhri (resigned 18.5.24) Usmaan Ali Mahmood (resigned 18.5.24) Amjed Zafar (appointed 18.5.24) Mubarakhusain Dawood (appointed 18.5.24) Mohammed Mohasan Anwar (appointed 18.5.24) Principal address 213 Errwood Road Manchester M19 1JB Registered charity number 1169490 Independent examiner Riley Moss 2018 Limited Citygate Longridge Road Preston Lancashire PR2 5BQ

Page 1

QUBA INITIATIVE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 charity aims to provide relief to poverty and promote Islamic learning and spirituality in Manchester and surrounding areas. These aims are delivered by the provision of essential food items to families in need, the organisation of courses, lectures and conferences on Islamic sacred knowledge and the holding gatherings of prayers and remembrance of God and Prophet Muhammad (peace and blessings be upon him).

Achievement and performance

During the year, Quba Initiative focused its efforts on delivering Islamic classes, courses, and gatherings on a monthly and weekly basis. This included but was not limited to:

Other activities held during the year in service to the local community included:

Financial review

Reserves policy

The financial position is regularly reviewed by the trustees to ensure effective financial governance. This includes monitoring of the cash and bank balances by the trustees.The trustees are confident the organisation will continue to be able to meet with its obligations as they fall due.

Structure, governance and management Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Approved by order of the board of trustees on 29 July 2024 and signed on its behalf by:

Amjed Zafar - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QUBA INITIATIVE

Independent examiner's report to the trustees of Quba Initiative

I report to the charity trustees on my examination of the accounts of Quba Initiative (the Trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 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.

Farook Patel FCA

Riley Moss 2018 Limited Citygate Longridge Road Preston Lancashire PR2 5BQ

2 August 2024

Page 3

QUBA INITIATIVE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
2023 2022
Unrestricted Total
fund funds
Notes £ £
Income and endowments from
Donations and legacies 2 30,697 38,049
Other trading activities 3 4,007 -
Total 34,704 38,049
Expenditure on
Charitable activities 4
Charitable activities 29,608 46,413
Other 116 116
Total 29,724 46,529
NET INCOME/(EXPENDITURE) 4,980 (8,480)
Reconciliation of funds
Total funds brought forward 17,822 26,302
Total funds carried forward 22,802 17,822
----- End of picture text -----

The notes form part of these financial statements

Page 4

QUBA INITIATIVE

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023

----- Start of picture text -----
2023 2022
Unrestricted Total
fund funds
Notes £ £
Fixed assets
Tangible assets 8 - 116
Current assets
Cash at bank 23,366 18,270
Creditors
Amounts falling due within one year 9 (564) (564)
Net current assets 22,802 17,706
Total assets less current liabilities 22,802 17,822
NET ASSETS 22,802 17,822
Funds 10
Unrestricted funds 22,802 17,822
Total funds 22,802 17,822
----- End of picture text -----

The financial statements were approved by the Board of Trustees and authorised for issue on 29 July 2024 and were signed on its behalf by:

Amjed Zafar - Trustee

The notes form part of these financial statements

Page 5

QUBA INITIATIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% per annum straight line basis

Taxation

The charity is exempt from 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.

2. Donations and legacies

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Donations|30,697|38,049|

----- End of picture text -----

Page 6

continued...

QUBA INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

3. Other trading activities

2023
£
Fundraising events
4,007
4.
Charitable activities costs
Support
Direct
costs (see
Costs
note 5)
£
£
Charitable activities
26,649
2,959
5.
Support costs
Governance
Management
costs
£
£
Charitable activities
2,323
636		 2022
£
-
Totals
£
29,608
Totals
£
2,959

6. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

During the period, the charity reimbursed expenses to Trustees amounting to £461 (2022: £NIL).

7. Staff costs

There were no staff costs for the year ended 31 December 2023 nor for the year ended 31 December 2022.

No employees received emoluments in excess of £60,000.

8. Tangible fixed assets

Tangible fixed assets
Cost
At 1 January 2023 and
31 December 2023		 Plant and
machinery
£
464
Depreciation
At 1 January 2023
Charge for year		 348
116
At 31 December 2023 464
Net book value
At 31 December 2023		 -
At 31 December 2022 116

Page 7

continued...

QUBA INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. Creditors: amounts falling due within one year

9.
Creditors: amounts falling due within one year
Other creditors 2023
2022
£
£
564
564
10.
Movement in funds
Unrestricted funds
General fund		 At 1.1.23
£
17,822		 Net
movement
At
in funds
31.12.23
£
£
4,980
22,802
TOTAL FUNDS 17,822 4,980
22,802
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Incoming
resources
£
34,704		 Resources
Movement
expended
in funds
£
£
(29,724)
4,980
TOTAL FUNDS 34,704 (29,724)
4,980
Comparatives for movement in funds
Unrestricted funds
General fund		 At 1.1.22
£
26,302		 Net
movement
At
in funds
31.12.22
£
£
(8,480)
17,822
TOTAL FUNDS 26,302 (8,480)
17,822
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
38,049		 Resources
Movement
expended
in funds
£
£
(46,529)
(8,480)
TOTAL FUNDS 38,049 (46,529)
(8,480)

Page 8

continued...

QUBA INITIATIVE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. Related party disclosures

There were no related party transactions for the year ended 31 December 2023.

Page 9