International Academy of Sufi Scholars
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
FINANCIAL STATEMENTS
YEAR ENDING: 1st day of January 2023
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
CONTENTS
ASSOCIATION INFORMATION ......................................................................................................................................... 3 MANAGEMENT COMMITTEE REPORT ............................................................................................................................ 4 ACCOUNTING POLICIES................................................................................................................................................... 5 STATEMENT OF FINANCIAL ACTIVITIES .......................................................................................................................... 6 BALANCE SHEET .............................................................................................................................................................. 7 CHARITABLE ACTIVITIES .................................................................................................................................................. 8 TANGIBLE ASSETS ........................................................................................................................................................... 9
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
ASSOCIATION INFORMATION
| Name | Role | Date of appointment |
|---|---|---|
| Dr MASOOD AHMED RAZA | Chairperson | 03 February2017 |
| Dr AFTAB AHMED PARWAZ | Trustee | 04January2017 |
| DrQASER SHAHZAD CHAISHTY | Trustee | 03 February2017 |
| MUHAMMAD MASOODUR REHMAN | Trustee | 03 February2017 |
| MUHAMMAD HANIF RAZA | Trustee | 03 February2017 |
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
MANAGEMENT COMMITTEE REPORT
The Trustees present their report and financial statements for the year ended 1st day of January 2023
Formation Status and Principal Activities
International Academy of Sufi Scholars is registered with the Charity Commission (No.1171458) and is constituted under a CIO - Foundation Registered since 03 Feb 2017.
The Charity is administered by a ‘Trust Committee’ (Members called Trustees) detail of which are given in the attached schedule.
The principal object of the Charity is to advance the Islamic faith for the benefit of the public in accordance within Sunni Islam in particular but not exclusively by promoting teachings of Islam, the Qur’an and sunnah and planning and developing post-doctoral research with the assistance of internationally renowned scholars.
Trustees Responsibilities
The Trustees are required to prepare financial statements for each financial year as required by the Charity Commission rules and regulations.
The Trustees are responsible for keeping proper accounting records which disclose; with reasonable accuracy, the financial position of the Charity and to ensure that the Financial Statements comply with the Charity Commission rules. 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.
FOR AND ON BEHALF OF THE TRUSTEES
Dr MASOOD AHMED RAZA
Dr MASOOD AHMED RAZA
Chairperson
Dated 31/08/2024
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
ACCOUNTING POLICIES
1. ACCOUNTING POLICIES
(a) Convention
The accounts have been prepared in accordance with the historical cost convention and in accordance with applicable accounting standards and the statement of Recommended Practice on Accounting by Charities (2005).
(b) Depreciation
Depreciation is provided on tangible fixed assets in order to write off those assets over their anticipated useful lives. The bases and rates used are as follows:
Freehold Property - 2% per annum on net book value
Fixtures, Fittings and Equipment - 15% per annum on net book value
(c) Income
Income is included in the income and expenditure account at their due date.
BANK INTEREST
2.
Bank interest is included in the income and expenditure account on receipt, at its gross amount.
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
STATEMENT OF FINANCIAL ACTIVITIES
STATEMENT OF FINANCIAL ACTIVITIES
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| Unrestricted Funds | Unrestricted Funds | |||
| £ | £ | |||
| Income and Expenditure | ||||
| Income & endowments from | ||||
| Donations and Legacies | 7,003.00 | 5,544.00 | ||
| Donations in kind | 3,000.00 | 3,000.00 | ||
| TOTALS | 10,003.00 | 8,544.00 | ||
| EXPENDITURE ON | ||||
| Charitable Activities | 4 | 4,353.00 | 5,347.00 | |
| TOTALS | 4,353.00 | 5,347.00 | ||
| NET INCOME / (EXPENDITURE) | 2,650.00 | 197.00 | ||
| FUNDS BALANCES B/F | 2022 | 0.00 | 0.00 | |
| FUNDS BALANCES C/F | 2021 | 2,650.00 | 197.00 |
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
BALANCE SHEET
| BALANCE SHEET | Year Ending | 31 | of March | 2022 | ||
|---|---|---|---|---|---|---|
| NOTES | 2022 | 2021 | ||||
| Unrestricted Funds | Unrestricted Funds | |||||
| £ | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Tangible Assets | 3 | 0.00 | 0 | |||
| CURRENT ASSETS | ||||||
| Debtors and Prepayments | 0 | 0 | ||||
| Cash in Hand | 150 | 150 | ||||
| 2,650.0 | ||||||
| Cash at Bank | 2,500 | 0 | 194 | 344.00 | ||
| CREDITORS: | ||||||
| Due within one year | ||||||
| Creditors and Accruals | 5 | 150 | 50 | |||
| 2,500.0 | ||||||
| NET CURRENT ASSETS | 0 | 294.00 | ||||
| 2,500.0 | ||||||
| NET ASSETS | 0 | 294.00 | ||||
| FUNDS | ||||||
| 2,500.0 | ||||||
| Unrestricted | 0 | 294.00 |
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
| CHARITABLE ACTIVITIES | CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|
| NOTES | 2022 | 2021 | ||
| Unrestricted | Unrestricted | |||
| Funds | Funds | |||
| £ | £ | |||
| 4 | CHARITABLE ACTIVITIES | |||
| Rates and Insurance | 0 | 3,500 | ||
| Wages and NIC | 0 | 0 | ||
| Electricity | 0 | 150 | ||
| Gas | 0 | 100 | ||
| Water | 0 | 0 | ||
| Repairs and Alarm Maintenance | 0 | 0 | ||
| Accountancy and Book Keeping | 530 | 750 | ||
| Books and Stationery | 0 | 0 | ||
| Cleaning and Laundry | 2,223 | 0 | ||
| Fire and Health | ||||
| Certification | 1,000 | 197 | ||
| Telephone | 400 | 400 | ||
| Depreciation | 0 | 0 | ||
| Sundry | ||||
| Expenses | 200 | 250 | ||
| SUB TOTAL | 4,353 | 5,347 | ||
| CREDITORS AND | ||||
| 5 | ACCURALS | |||
| Book Keeping & Accountancy | 100 | 0 | ||
| Utilities | 50 | 50 | ||
| SUB TOTAL | 150 | 50 |
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
TANGIBLE ASSETS
| ANGIBLE ASSETS | |||
|---|---|---|---|
| NOTES TANGIBLE ASSETS 3 COST at 01 April 2021 Addition at 31 March 2022 DEPRECIATION at 01 April 2021 charges for year at 31 March 2022 NET BOOK VALUE at 31 March 2022 at 01 April 2021 |
Year Ending 31 of March Fixed Fixtures, Fitting Property & Equipment £ £ - - - - - - - - - - |
2022 TOTALS £ - |
|
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - |
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458
International Academy of Sufi Scholars
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
FINANCIAL STATEMENTS
Charity Registration No. 1171458
INTERNATIONAL ACADEMY OF SUFI SCHOLARS
CHARITY REGISTRATION NO. 1171458