CHARITY REGISTRATION NUMBER: 1172217
Imam Ali Foundation Unaudited Financial Statements
30 June 2022
Al-Mahari & Co The Wimbledon Arches 1 The Archway Close London SW19 8UL
Imam Ali Foundation
Financial Statements
Year ended 30 June 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8 |
Imam Ali Foundation
Trustees' Annual Report
Year ended 30 June 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2022.
Reference and administrative details
Registered charity name Imam Ali Foundation Charity registration number 1172217 Principal office 65 Bronsesbury Park London NW6 7AX
The trustees
Mr M Alkhabaz Dr S Bakir Syed M Rizvi Mr A Jabbar Mr A Amin Mr A Riyadh Mr M Amer Dr H Mamdani Independent Examiner Salam Hasan Al-Mahari & Co The Wimbledon Arches 1 The Archway Close London SW19 8UL
Structure, governance and management
Governing document
The organisation is registered as a charity on 23 March 2017 and governed by its constitution.
Organisational Structure
Imam Ali Foundation has a Management Committee of 6 trustees who meet quarterly and are responsible for the strategic direction and policy of the charity.
Risk Management
The Management Committee has conducted a review of the major risks to which the charity is exposed to and continues to monitor this on an ongoing basis. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
1
Imam Ali Foundation
Trustees' Annual Report (continued)
Year ended 30 June 2022
Objectives and activities
The objects of the Charity are for the public benefit:
A) the advancement of education and religion with particular emphasis on religious studies and Islam, in accordance with the creeds of Ithna Ashari Shia Muslim faith.
B) the relief of poverty, sickness and distress, in particular amongst people who practice the Islamic faith in accordance with the creeds of Ithna Ashari Shia Muslim faith;
C) the provision of facilities, for the public and in particular for those members of the public who practice the Islamic faith in accordance with the creeds of Ithna Ashari Shia Muslim faith ("the beneficiaries") in the interests of social welfare and with the object of improving conditions of life of the beneficiaries.
Achievements and performance
The charity fulfilled its objectives of relieving poverty, promoting education and providing facilities for the Muslims to practice the Islamic faith across the UK, with centres operating in London, Birmingham, Cardiff and Hull.
Financial review
The trustees were satisfied with the financial position of the charity, with sufficient reserves held by the charity to continue its work towards its objectives in the future.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each 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;
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observe the methods and principles in the applicable Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
2
Imam Ali Foundation Trustees. Annual Report fc Year ended 30 June 2022 The Injstees are responsible for keeFing adequate 0[th"r0 rets)rds that are sufficient lo show 8nd ewain the ch8Tlty's transath.ons and disdose wth reasona8 accuracy at any ts'me the finanaal pwtion of the charity and enae them to ensure thai the fin8ncial statements comply with the Chanlies Act 2011. the applicable Charrties IAc£wnts a1 Reports) Rewlations. and the provisions of the Tfust Deed. They are also resS for safeguarding the ass8ts of the charity and hence for taking reasonablg $1gps for Ihg preven11 aThJ delec*'on cl tra and othèr Irregan.8s. The trustees. anr1 report was 8pwo¥ed on 24 Aw"12023 and ggn8d cm bohaff of thg LvJarQ of truslg0S Sy&# M RLZ TnJsle8
Imam Ali Foundation Independent Examinerfs Report to the Trustees of Imam Ali Foundation Year ended 30 June 2022 I report lo the Irustees on my examinalion of the financial statements of Imam Ali Foundation I'the charity'l for Ihe year ended 30 June 2022. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance wilh the requirements of the Charities Act 20111.the Act'l. I rerK)rt in respect ol my examination ol the charity's financial statements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all Ihe applicable Directions given by th& Charity Commission under sectson 14515llbl of the A¢t. Independent examinerf$ statement Since the charity's gross income exceeded £250.000 your examiner rnust be a member of a body listed in section 145 of the 2011 Acl. I confimi Ihat l am qualified to ufidertake the examination be¢atJse l am a member ol the Associalion of Chartered CertrfEd Accountants. which is one of the listed bodies. I have com eted my examination. l ¢onfimi Ihal no malerial matters have come to my attention in connection with the examination giving me cause lo believe that in any malerial respect.. accounting CordS were nol kept in respect of the charity as required by section 130 of the Act", or the fin8n¢i81 statements do not accord with those records-, or Ihe financial statements do not comply wr(h the applicable requirements concerning the fomi and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that tho a¢counts give a 'true and fail view which is not a matter considered as part ol an independenl examinalion. I have no concerns and have come across no other matters in conneciion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. S81arn H3sÈn Al-mahari & Co Independent Examiner The Wimbledon Arches 1 Archway Close London SW19 8UL
Imam Ali Foundation
Statement of Financial Activities
Year ended 30 June 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 80,373 | 590,733 | 671,106 | 549,392 |
| Investment income | 5 | 19,354 | – | 19,354 | 20,954 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 99,727 | 590,733 | 690,460 | 570,346 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 350,813 | 1,584,133 | 1,934,946 | 486,623 |
| -------------------------------- | ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Total expenditure | 350,813 | 1,584,133 | 1,934,946 | 486,623 | |
| ================================ | ========================================= | ========================================= | ================================ | ||
| Net gains on investments | 9 | – | – | – | (298,500) |
| -------------------------------- | ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Net (expenditure)/income and net | |||||
| movement in funds | (251,086) | (993,400) | (1,244,486) | 382,223 | |
| ================================ | ========================================= | ========================================= | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 3,444,370 | 993,400 | 4,437,770 | 4,055,546 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 3,193,284 | – | 3,193,284 | 4,437,770 | |
| ========================================= | ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
5
Imam Ali Foundation Statement of Financial Position 30 June 2022 2022 2021 Not• Flxed as$ Tangible fix8d as$ots 14 2.505,146 2.5(6.534 Curr•nt •ss•ts Debtors Cash al bank and in har#J 16 84,051 612.887 191,618 1.814.391 ,938 2.OCE.C(19 Credltor¥: amounts falllng du• lthlD on• y••r Net current alsets 16 74,774 888.138 1.931.235 Total a$8ats1os• curr•nl Ilabllttl&s 3,193.284 4.437.769 Net auet• 3,193,284 4,437,769 Funds ofthe ch•rfty Raslrict8d funds Unr6striel•d fiJnd8 993.400 3,444,370 3,193,284 Total chailty fund• 17 3,193,284 4,437.770 These fln8ncJal statement8 were by the Lwltl trle&S I0 M 24 Apil 2023, and aro %gnod on b8hèK ol the boarf by.. Syed M R Yzvi TnJsle8 Th• no$ ¢)n p49M 8 to 15 forni wtof th•s• IlnAn¢lal slat•m•nl•.
Imam Ali Foundation
Statement of Cash Flows
Year ended 30 June 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (1,244,486) | 382,223 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 1,388 | 2,686 |
| Net gains on investments | – | (298,500) |
| Dividends, interest and rents from investments | (19,200) | (20,800) |
| Other interest receivable and similar income | (154) | (154) |
| Interest payable and similar charges | 1,059 | 648 |
| Accrued expenses/(income) | 4,000 | (4,800) |
| Changes in: | ||
| Trade and other debtors | 107,567 | (2,975) |
| Trade and other creditors | (69,974) | 68,501 |
| ----------------------------------------- | -------------------------------- | |
| Cash generated from operations | (1,219,800) | 126,829 |
| Interest paid | (1,059) | (648) |
| Interest received | 154 | 154 |
| ----------------------------------------- | -------------------------------- | |
| Net cash (used in)/from operating activities | (1,220,705) | 126,335 |
| ========================================= | ================================ | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 19,200 | 20,800 |
| Purchase of tangible assets | – | (585) |
| Proceeds from sale of tangible assets | – | 231,500 |
| Proceeds from sale of other investments | – | 298,500 |
| ----------------------------------------- | -------------------------------- | |
| Net cash from investing activities | 19,200 | 550,215 |
| ========================================= | ================================ | |
| Net (decrease)/increase in cash and cash equivalents | (1,201,505) | 676,550 |
| Cash and cash equivalents at beginning of year | 1,814,391 | 1,137,841 |
| ----------------------------------------- | ----------------------------------------- | |
| Cash and cash equivalents at end of year | 612,886 | 1,814,391 |
| ========================================= | ========================================= |
The notes on pages 8 to 15 form part of these financial statements.
7
Imam Ali Foundation
Notes to the Financial Statements
Year ended 30 June 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 65 Brondesbury Park, London, NW6 7AX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
8
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
9
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 25% Straight line Equipment - 25% Straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
10
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 80,373 | – | 80,373 |
| Fitra | – | 4,127 | 4,127 |
| Khums | – | 548,556 | 548,556 |
| Orphans / poor | – | 650 | 650 |
| Qurabani | – | 410 | 410 |
| Sadqa | – | 33,789 | 33,789 |
| Fidya / Kaffara | – | 2,619 | 2,619 |
| Zakat | – | 582 | 582 |
| Grants | |||
| Grants receivable | – | – | – |
| ---------------------------- | -------------------------------- | -------------------------------- | |
| 80,373 | 590,733 | 671,106 | |
| ============================ | ================================ | ================================ |
11
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 17,074 | – | 17,074 | ||
| Fitra | – | 3,965 | 3,965 | ||
| Khums | – | 495,774 | 495,774 | ||
| Orphans / poor | – | 2,457 | 2,457 | ||
| Qurabani | – | 623 | 623 | ||
| Sadqa | – | 23,665 | 23,665 | ||
| Fidya / Kaffara | – | 2,149 | 2,149 | ||
| Zakat | – | 2,775 | 2,775 | ||
| Grants | |||||
| Grants receivable | 910 | – | 910 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 17,984 | 531,408 | 549,392 | |||
| ============================ | ================================ | ================================ | |||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Income from investment properties | 19,200 | 19,200 | 20,800 | 20,800 | |
| Bank interest receivable | 154 | 154 | 154 | 154 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 19,354 | 19,354 | 20,954 | 20,954 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 6. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Charitable activities | 238,418 | 1,584,133 | 1,822,551 | ||
| Support costs | 112,395 | – | 112,395 | ||
| -------------------------------- | ----------------------------------------- | ----------------------------------------- | |||
| 350,813 | 1,584,133 | 1,934,946 | |||
| ================================ | ========================================= | ========================================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Charitable activities | – | 356,463 | 356,463 | ||
| Support costs | 130,159 | – | 130,160 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | |||
| 130,159 | 356,463 | 486,623 | |||
| ================================ | ================================ | ================================ |
12
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
7. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Charitable activities | 1,822,551 | 107,532 | 1,930,083 | 480,957 |
| Governance costs | – | 4,863 | 4,863 | 5,666 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | -------------------------------- | |
| 1,822,551 | 112,395 | 1,934,946 | 486,623 | |
| ========================================= | ================================ | ========================================= | ================================ |
8. Analysis of support costs
| Analysis of | |||||
|---|---|---|---|---|---|
| support costs | Total 2022 | Total 2021 | |||
| £ | £ | £ | |||
| Staff costs | 35,462 | 35,462 | 45,237 | ||
| Premises | 33,749 | 33,749 | 35,090 | ||
| Communications and IT | 4,020 | 4,020 | 4,181 | ||
| General office | 9,955 | 9,955 | 8,861 | ||
| Finance costs | 1,059 | 1,059 | 648 | ||
| Governance costs | 4,864 | 4,864 | 5,664 | ||
| Legal & professional costs | 21,899 | 21,899 | 27,792 | ||
| Depreciation | 1,388 | 1,388 | 2,685 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | |||
| 112,396 | 112,396 | 130,158 | |||
| ================================ | ================================ | ================================ | |||
| 9. | Net gains on investments | ||||
| Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
| Funds | 2022 |
Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on investment property | – | – |
298,500 | 298,500 | |
| ============== | ============== | ================================ | ================================ | ||
| 10. | Net (expenditure)/income | ||||
| Net (expenditure)/income is stated after charging/(crediting): | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 1,388 | 2,686 | |||
| ======================= | ======================= | ||||
| 11. | Independent examination fees | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 500 | – | |||
| ============== | ============== | ||||
| 12. | Staff costs |
The average head count of employees during the year was 3 (2021: 4).
13
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
12. Staff costs (continued)
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
13. Trustee remuneration and expenses
Syed M Rizvi was paid £14,300 (2021: £12,250) for lectures and tabligh work carried out during the year. No remuneration or other benefits from employment with the charity or a related entity were received by the other trustees
14. Tangible fixed assets
| Freehold | Fixtures and | |||
|---|---|---|---|---|
| property | fittings | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 July 2021 and 30 June 2022 | 2,503,823 | 838 | 9,905 | 2,514,566 |
| ========================================= | ============== | ======================= | ========================================= | |
| Depreciation | ||||
| At 1 July 2021 | – | 837 | 7,195 | 8,032 |
| Charge for the year | – | – | 1,388 | 1,388 |
| ----------------------------------------- | -------------- | ----------------------- | ----------------------------------------- | |
| At 30 June 2022 | – | 837 | 8,583 | 9,420 |
| ========================================= | ============== | ======================= | ========================================= | |
| Carrying amount | ||||
| At 30 June 2022 | 2,503,823 | 1 | 1,322 | 2,505,146 |
| ========================================= | ============== | ======================= | ========================================= | |
| At 30 June 2021 | 2,503,823 | 1 | 2,710 | 2,506,534 |
| ========================================= | ============== | ======================= | ========================================= | |
| Debtors | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Other debtors | 84,051 | 191,618 | ||
| ============================ | ================================ | |||
| Creditors: amounts falling due within | one year | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Accruals and deferred income | 8,800 | 4,800 | ||
| Social security and other taxes | – | 1,472 | ||
| Other creditors | – | 68,502 | ||
| ----------------------- | ---------------------------- | |||
| 8,800 | 74,774 | |||
| ======================= | ============================ |
15. Debtors
16. Creditors: amounts falling due within one year
14
Imam Ali Foundation
Notes to the Financial Statements (continued)
Year ended 30 June 2022
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | Gains and | At | |||
| 1 July 2021 | Income | Expenditure | losses | 30 June 2022 | |
| £ | £ | £ | £ | £ | |
| General funds | 3,444,370 | 99,727 | (350,813) | – | 3,193,284 |
| ========================================= | ============================ | ================================ | ============== | ========================================= | |
| At | Gains and | At | |||
| 1 July 2020 | Income | Expenditure | losses | 30 June 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 3,237,091 | 38,938 | (130,159) | 298,500 | 3,444,370 |
| ========================================= | ============================ | ================================ | ================================ | ========================================= | |
| Restricted funds | |||||
| At | Gains and | At | |||
| 1 July 2021 | Income | Expenditure | losses | 30 June 2022 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | 993,400 | 590,733 | (1,584,133) | – | – |
| ================================ | ================================ | ========================================= | ============== | ============== | |
| At | Gains and | At | |||
| 1 July 2020 | Income | Expenditure | losses | 30 June 2021 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | 818,455 | 531,408 | (356,463) | – | 993,400 |
| ================================ | ================================ | ================================ | ============== | ================================ | |
| Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 2,505,146 | – | 2,505,146 | ||
| Current assets | 696,938 | – | 696,938 | ||
| Creditors less than 1 year | (8,800) | – | (8,800) | ||
| ----------------------------------------- | -------------- | ----------------------------------------- | |||
| Net assets | 3,193,284 | – | 3,193,284 | ||
| ========================================= | ============== | ========================================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 2,506,534 | – | 2,506,534 | ||
| Current assets | 1,015,849 | 993,400 | 2,009,249 | ||
| Creditors less than 1 year | (78,014) | – | (78,014) | ||
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |||
| Net assets | 3,444,369 | 993,400 | 4,437,769 | ||
| ========================================= | ================================ | ========================================= | |||
| Analysis of changes in net debt | |||||
| At | |||||
| At 1 Jul 2021 | Cash flows | 30 Jun 2022 | |||
| £ | £ | £ | |||
| Cash at bank and in hand | 1,814,391 | (1,201,504) | 612,887 |
||
| ========================================= | ========================================= | ================================ |
18. Analysis of net assets between funds
19. Analysis of changes in net debt
15