**Charity number: 1169751** ## **Green Oak Educational Trust** **Report of the Trustees and Unaudited Financial Statements** **For the year ended 31 October 2022** ## **Green Oak Educational Trust Contents Page For the year ended 31 October 2022** |Report of the Trustees|1 to 2| |---|---| |Independent Examiner's Report to the Trustees|3| |Statement of Financial Activities|4| |Statement of Financial Position|5| |Notes to the Financial Statements|6 to 10| |Detailed Statement of Financial Activities|11| ## **Green Oak Educational Trust Report of the Trustees** ## **For the year ended 31 October 2022** The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 October 2022. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** To advance education for the benefit of the poor, the underprivileged and the general public by means of, but not exclusively, the provision or the assistance in the provision of educational activities and facilities, such as schools, supplementary schools, nurseries and training centres. To advance the religion of Islam, by means of, but not exclusively, promoting the teachings and tenets of Islam, provision of facilities for worship and provision of facilities for Islamic education, in accordance with the teachings of the Quran and sunnah of the prophet Muhammad (peace and blessings be upon him); To relieve financial hardship, distress and suffering among poor people, refugees, victims of natural disasters and other people in need, by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the provision of food, clothing, and accommodation for the said persons. The main activities undertaken in relation to those purposes during the period. Green Oak Educational Trust strives to support high quality Islamic Schools, Masjids, Madrasahs and youth/community projects in meeting set-up and operational costs. We raise funds via our website, visits to Masjids, visits to donors and fundraising activities to support projects which we are able to support. The main activities undertaken dutring the period to further the charity's purpose for the public benefit One of the main objectives of the Trust is to 'advance education for the benefit of the poor, the underprivileged and the general public...' The Trust carries out this objective by providing grants to projects that seek to setup and develop high quality independent Islamic Schools and Madrasahs for the benefit of their local communities. The trustees have had regard to the charity commission's guidance on public benefit in managing the activities of the charity. ## **Objectives and aims** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **ACHIEVEMENTS AND PERFORMANCE** Green Oak Educational Trust has supported Green Oak Academy in meeting expenses of operating and advancing the education provision at its secondary school and Madrasah at the Woodstock Road site as well as locating a second site in the Kings Heath area of Birmingham. Green Oak Educational Trust has supported Green Oak Academy in meeting expenses via regular contributions. ## **FINANCIAL REVIEW** ## **Significant events** During this financial year charity has raised funds by way of donations and Qard-e-Hasana to fund the purchase of the building in Kings Heath area in Birmingham, the purpose of the building would be to provide Islamic teachings to the community. Funds were also raised for the purchase of neighbouring property. ## **Reserves** The charity has sufficient assets to cover the short and long term liabilities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Green Oak Educational Trust is registered with the Charity commission (Registration Number 1169751) and constituted by the deed of trust. The Charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits. The trustees meet together as a body quarterly and are responsible for all decisions' taken in relating to running the organisation facilities and the activities provided by the charity 1 of 11 **Green Oak Educational Trust Report of the Trustees Continued For the year ended 31 October 2022** ## **Recruitment and appointment of trustees** New trustees are appointed by existing trustees and serve for a period of 3 years after which they may put themselves forward for reappointment. At any one time, the trust is governed by a minimum of 3 and a maximum of 5 trustees. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** Green Oak Educational Trust **Charity registration number** 1169751 **Principal address** 178 Headfield Road Dewsbury West Yorkshire WF12 9JH ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Mr Maseehullah Patel Mr Aslam Patel Mr Aslam Ismail Dabhelia **Independent examiners** M S Aswani FCCA Mibsons Limited Chartered Certified Accountants 180 Birmingham Road West Bromwich B70 6QG Approved by the Board of Trustees and signed on its behalf by ............................................................................. 30 August 2023 Mr Maseehullah Patel 2 of 11 ## **Green Oak Educational Trust Independent Examiners Report to the Trustees For the year ended 31 October 2022** I report to the trustees on my examination of the accounts of the charity for the year ended 31 October 2022. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** Since the Charity's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the listed bodies. 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 that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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. M S Aswani FCCA Mibsons Limited Chartered Certified Accountants 180 Birmingham Road West Bromwich B70 6QG 30 August 2023 3 of 11 ## **Green Oak Educational Trust Statement of Financial Activities For the year ended 31 October 2022** ||**Notes**|**Unrestricted**|**2021**| |---|---|---|---| |||**funds**|| |||**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|2|496,704|106,080| |Other income|||| |Rent received||1,500|-| |**Total**||**498,204**|**106,080**| |**Expenditure on:**|||| |Charitable activities|3/4||| |Green Oak Academy||(87,987)|(30,954)| |**Total**||**(87,987)**|**(30,954)**| |**Net income**||**410,217**|**75,126**| |**Reconciliation of funds**|||| |Total funds brought forward||19,583|(55,543)| |**Total funds carried forward**||**429,800**|**19,583**| 4 of 11 ## **Green Oak Educational Trust Statement of Financial Position As at 31 October 2022** |**Notes**
**Fixed assets**
Tangible assets
8
**Current assets**
Cash at bank and in hand
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after more than one year**
9
**Net assets**
**The funds of the charity**
Unrestricted income funds
10
**Total funds**|**£**
**2022**
1,121,909
**1,121,909**
67,296
**67,296**
**67,296**
**1,189,205**
(759,405)
**429,800**
429,800
**429,800**|**£**
**2021**
-| |---|---|---| |||**-**| |||282,193| |||**282,193**| |||**282,193**| |||**282,193**| |||(262,610)| |||**19,583**| |||19,583| |||**19,583**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Mr Maseehullah Patel Trustee 30 August 2023 5 of 11 ## **Green Oak Educational Trust Notes to the Financial Statements For the year ended 31 October 2022** ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Charities Act 2011. Green Oak Educational Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustee continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity, and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are those which are to be used as per specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: ## **Resources expended** Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure: ## **Charitable activites** Green Oak Educational Trust has supported Green Oak Academy in meeting expenses of operating and advancing the education provision at its secondary school and Madrasah at the Woodstock Road site as well as locating a second site in the Kings Heath area of Birmingham. Green Oak Educational Trust has supported Green Oak Academy in meeting expenses via regular contributions. ## **Taxation** The income/gains have been applied for charitable purposes only and as a result Section 505 ICTA 1988 provides for the exemption of charity's income from direct taxation. 6 of 11 ## **Green Oak Educational Trust Notes to the Financial Statements Continued For the year ended 31 October 2022** ## **2. Income from donations and legacies** |**Unrestricted funds**
Donations received
Sponsorships received
Gifts in kind
**osts of charitable activities by fund type**
**Unrestricted funds**
**Green Oak Academy**
**Direct cost**
Educational funding
**Support costs**
**Green Oak Academy**
**Governance costs**
Accountancy fees
Legal fees
Premises costs
Depreciation of owned
assets
Other office costs
Interest payable
Other finance costs
Repairs and maintenance|**2022**
**£**
493,092
3,612
-
**496,704**
**2022**
**£**
73,000
**73,000**
780
547
878
7,214
150
342
4,242
834
**14,987**
**87,987**|**2021**
**£**
83,920
-
22,160| |---|---|---| |||**106,080**| |||**2021**
**£**
30,000| |||**30,000**
870
-
-
-
-
-
84
-| |||**954**| |||**30,954**| ## **3. Costs of charitable activities by fund type** ## **4. Costs of charitable activities by activity type** ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |**Activities undertaken directly**||| |Green Oak Academy|87,987|30,954| 7 of 11 ## **Green Oak Educational Trust Notes to the Financial Statements Continued For the year ended 31 October 2022** ## **5. Analysis of support costs** |**nalysis of support costs**|||| |---|---|---|---| ||**2022**|**2021**|| ||**£**||**£**| |Governance costs|14,987||954| |**et income/(expenditure) for the year**|||| |This is stated after charging/(crediting):|||| ||**2022**||**2021**| ||**£**||**£**| |Depreciation of owned fixed assets|7,214||-| |Accountancy fees|780||870| ## **6. Net income/(expenditure) for the year** ## **7. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. ## **8. Tangible fixed assets** |**Cost or valuation**
Additions
At 31 October 2022
**Depreciation**
Charge for year
At 31 October 2022
**Net book values**
At 31 October 2022|**Land and**
**Buildings**
**£**
1,128,573
**1,128,573**
7,166
**7,166**
**1,121,407**|**Computer**
**Equipment**
**£**
550
**550**
48
**48**
**502**|**Total**
**£**
1,129,123| |---|---|---|---| ||||**1,129,123**| ||||7,214| ||||**7,214**| ||||**1,121,909**| The depreciation charge for the year is £(342) in respect of assets leased under finance leases or hire purchase contracts. 8 of 11 ## **Green Oak Educational Trust Notes to the Financial Statements Continued For the year ended 31 October 2022** ## **9. Creditors: amounts falling due after more than one year** |**reditors: amounts falling due after more than one year**||| |---|---|---| ||**2022**|**2021**| ||**£**|**£**| |Loans and overdrafts|19,067|22,000| |Other creditors||| |Other creditors|740,338|240,610| ||**759,405**|**262,610**| ## **10. Movement in funds** ## **Unrestricted Funds** |**Unrestricted Funds**||||| |---|---|---|---|---| ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| ||**01/11/2021**|**resources**|**resources**|**31/10/2022**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|19,583|498,204|(87,987)|429,800| ||**19,583**|**498,204**|**(87,987)**|**429,800**| |**Unrestricted Funds - Previous year**||||| ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| ||**01/11/2020**|**resources**|**resources**|**31/10/2021**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|(55,543)|106,080|(30,954)|19,583| ||**(55,543)**|**106,080**|**(30,954)**|**19,583**| ## **11. Analysis of net assets between funds** ||**Tangible**|**Net current**|**Creditors >**|**Net Assets**| |---|---|---|---|---| ||**fixed assets**|**assets /**|**one year**|| |||**(liabilities)**||| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |_General_||||| |General|1,121,909|67,296|(759,405)|429,800| ||**1,121,909**|**67,296**|**(759,405)**|**429,800**| 9 of 11 ## **Green Oak Educational Trust Notes to the Financial Statements Continued For the year ended 31 October 2022** ## **Previous year** ||**Tangible**|**Net current**|**Creditors >**|**Net Assets**| |---|---|---|---|---| ||**fixed assets**|**assets /**|**one year**|| |||**(liabilities)**||| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |_General_||||| |General|-|282,193|(262,610)|19,583| ||**-**|**282,193**|**(262,610)**|**19,583**| 10 of 11 ## **Green Oak Educational Trust Detailed Statement of Financial Activities For the year ended 31 October 2022** |**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
Sponsorships
Gifts in kind
**Other income**
Rent received
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Cost of direct charitable activity
**SUPPORT COSTS**
**Governance costs**
Governance costs
**Total resources expended**
**Net Income**|**£**
**2022**
493,092
3,612
-
**496,704**
1,500
**1,500**
**498,204**
(73,000)
**(73,000)**
(14,987)
**(14,987)**
**(87,987)**
**410,217**|**£**
**2021**
83,920
-
22,160| |---|---|---| |||**106,080**
-| |||**-**| |||**106,080**
(30,000)| |||**(30,000)**
(954)| |||**(954)**| |||**(30,954)**| |||**75,126**| 11 of 11 This page does not form part of the statutory financial statements