IQRAA FOUNDATION {Charitable Incorporated Organlsatlon -the CIO) Icharity Re91Stration numbar 11753351 REPORT AND ACCOUNTS 31 OCTOBER 2023
IQRAA FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2023 Status The loundalion 15 conslitLsled as a charitable Incorporated Organisation Governing document The Charity was established ullder a constitution with objeds and powers that ar8 governed under the Charities Acis CharSty Commlssion Tegistration 117S335 Prfnclpal place of busine38 6Ob C¥aven park road London NW10 4AE Trustee¥ Muhiden Ai Ahrned Redl Habeba Husan Mukember Elias SeifÈlislarn Mohamtned Bankers HSBC 43 Queensway Bayswaler Lcindon W2 4QL Accountants Kojo & Co Limiled Chartered Certified Accountants Registed Audilors 118-120 London Road Mitcham Surrey CR4 3LB
IQRAA FOUNDATION TRUSTEES, REPORT The trustees present their rerort together with the accounts for the year ?nded 31 October 2023. PRINCIPAL ACTIVITY AND RESULTS FOR THE PERIOD The loundalion is constituted as a eharitabl& inctsporated organisalion and is therefore governed by & conslilulion. The prfndpal actlvFlles ()f the foundation are To advance the relÈgion of Islam Èn accordan¢e lo the Qur'an in pa¢tlcular lo provide facilities for EID prayeis and other religious activiti&s on special days. To advance education including instruction in the Islamlc faith and tgaching classes in Arabic and Quranlc studies To provide or assist in the provision of lacilifies in the inter881 of social welfare foi reciealion or other leisure tiMe cupatIon of individuals who hav8 eed of such fa¢ililies by reason of their youth, ag&. inlirmty or disability. financial hardship 01 social circumstances with the object of irnproving their conditions in life The CIO has nD liability. In the event of il being wound up. the members of tho CIO have no liabilily lo contribute to ils assets and no personal responsibility for setlling its debts TRUSTEES ThB Iiustees who setved during the year and al the date Df this report are.. Muhiden Ali Ahmed Redi Habeba Husan Muketnber Elias Seifelislam Mohammed
IQRAA FOUNDATION TRUSTEES, REPORT Icontdl FINANCIAL AND OPERATION REVIEW Review of Activilles and Achievement8 Iqraa Foundation was registered Bs a charity on 24th October 2017. Since its inception it has ¢airied out 88veral community activities for children and adult8. 11 also OTganised educational classes for children in Islarnic studies. Iqraa'5 objective is to use sporis and recreational aclivilies lo &n¢ourage the youth lo slay away from crime, Iqraa organised monthly lectures for both femalE and male members on religious and social malle15 One ol the activities of the foundation is the quarterfy oAlhering ol the Sisters. It is an occasion for the famili8s lo gel togèther for various kinds of social aclivilies and lor fundraising. 1115 the airn of the foundalion is to raise funds lo purchase its own prèmises to run its programmes During the year, the fwndatiork oigani8ed Iiaining. fundraising and promotional activities with 8 view lo raising awareness of the loundalion and lo raise funds lowaids the purchase of a community centre. Future Dovelopments The foundation intends to eontinEJe with its lundraising and prornolional a¢livili¢s. Rl$k Analysls The Trustees of the foundation make every effort lo en5uie that the ptstenlial for financial and operalional risk is redL4ced to the barest minimum by maintaining strict oversight through regular financial management reports, putting financial guidelines in place for staff. conducting regular financial health checks and inlroducing a now financial managetnent information system for effective tracking of income and 8xpendilures. Method of appointing tru5te•s Board members are yenerally nominaled and then elected al aim's length based on their background, experience and relevance lo the foundation's objeclives. When a vacancy arises on the board and a skill is identified, nominees may then be nomin¥led lo Ihe board. Induclion of new board members and training of exisllng members are conducted al quarterly inleTvals each yeaT. By the order of the board Seifelislam Mohammed Trustee Daled. > l (J<1 Jo14
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IQRAA FOUNDATION FOR THE YEAR ENDED 31 OCTOBER 2023 l report on the accounts of the IqTaa Foundation for the year ended 31 October 2023 which are set out on pages 5 to 9. Respective responslbillties of tTUStees and examiner The ¢h8rily's Iruslees are resporisible for the prepar81ion ol the accounts. The charity's trustees consider th<lt an alfdit is not required for this year under 5eclion 144121 of the ChaTilies Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 01 the 2011 Act, to follow the procedures laid down in the general Directions given by the Charity Commission under seGlion 14515llbl of the 2011 Act., and lo slate whelh¢r particular mallers have come lo my all&nlion Basis of Independènt oxamln&r's report My examination was carried out in accordance Mth the general Directions given by fhe Charily Commission. An examination includes a review ol the accounting records kept by the chaTily and a comparison of the accounts represented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Irusloes conceming any Such mallers. Tho procedures undertaken do not provide all the evidence that wL)uld be required in an audit and Cofisequently no opinion is given as to whether the accounts present a truè and fair vièw and the report is limited lo those mallers set out in the statement below. Independent examineV8 statement In connection with rlly &xaminalion, no matter h88 com8 to my attention.. 111 which gives me reasonable cause lo beliEve that in any malBrial iespecl the requirements.. to keep accounting records in accordance wilh section 130 01 the 2011 Acl. and to prepare accounts which accord with the accounting records and comply wllh th• iequir6mÈnts of the 2011 Act hève not been met., or 121 to which, Én my opinion, attenlioll should be drawn in Drder to enable a proper understanding of the accounts lo be reached. Kojo Amoah-Arko FCCA Kojo & Co. Limited Agsoci81ion of Chartéréd certifi Aceount8nts 118-120 London Road MitchatTt Surrey CR4 3LB Dated.
IQRAA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023 UnrestrÈcled Unreslridett Total Total Note 2023 2022 INCOMING RESOURCES Voluntary income 106,710 92,754 DIRECT CHARITABLE COST 89,141 103,513 NET INCOME FOR THE YEAR 17.569 110.7591 Balants brought forward 174,405 185,164 Balance carried forward 191,975 174,405
IQRAA FOUNDATION BALANCE SHEET AS AT 31 OGTOBER 2023 2023 2022 Note TANGIBLE FIXED ASSETS 600 CURRENT ASSETS DebtOFS Bank and cash balances 1,100 191.475 1,000 173,405 192,57J 174.405 CREDITORS- Amounts falling due within one year 600 60D 191,975 173,805 191,975 174.405 INCOME FUNDS UnreslNcted 191.975 174,405 Muhiden Ali Trustee Approved by the board on Ji /(q-1202_1
IQRAA FOUNDATION NOTES TO THE ACCOUNTS - 31 OCTOBER 2023 1a. Basi5 of Aeeounting The financial statements have been prepared in accordance wilh Accciunling and Reporting by Chaiilies.. Statement ol Recgmmerided Piactice applicable to charities preparing their accounts in accordance with the Financial Reporting Slalldards app Ireland {FRS 1021 leffe¢tive l January 20161- (Charities SORP IFRS 1021, the Financial Reporting Standard applicable in the UK and Republic ol Irel8nd IFRS 1021. Iqraa Foundation meets the definition of 8 public benefit entity under FRSIO2. 1b. Fund Accounting General funds iepresènt the lunds for the foundation that are not subject lo any restrictions regarding their use and are available foi applifjalion on the general PUlPDses of the foulldation. The purpose of any restricted lunds is ntsted in the accounts. 1c. Incoming resources Grants and donations arè accounted for on an accrual basis. Any unpaid balance is stated as a debtor in the balan¢e sheet. 1d. Resources expended Resouice8 exp8nded ale accounted for on an accrual basis. They are analysed between cost of generating funds, charitable activities and goveinance cos15, based on the nature of the expell5e. le. Depreclatlon Depreciation of tangible fixed assets Is provided on Ihe 51iaighl line basis over the useful expected lives of IhB assets a5 follDWS Equipment 50°/0 on cost qf. Resources expended Resources expended ale re¢ognised in the period in which Ihey are incurred. Resources expended inclL¢de altribulable VAT which cannot be r8covÈred. Resource8 expended are allocal8d lo the patticular activity where the cost relates directly lo thal aclivÈly. However, Ihe cost ol overall direction and adminislralion of each aclivily, comprising the salary and oveihesd ¢o$ls of the central function is apportioned on the following basis which are an estimate. based on staff Iitn8, of the arnount altribulable lo each activity. lg. Unrestricted funds These are donations and other incoming Tesources received or generated for the objecls of thé foundation.
IQRAA FOUNDATION NOTES TO THE ACCOUNTS. 31 OCTOBER 2023 2. INCOMING RESOURCES 2023 2022 Unrtrstrl¢tsd Unréslrltt VOLUNTARY INCOME Donations and fundraising 10S,710 92,754 3. DIRECT CHARITABLE COST Rent Donation Fundraising & sporting aclivities T¢aching cost Printing & slalionery Telephone Repairs & mainlenanoe Depreciation Llghl & heal Bank charges Lègal féès Insurance Profe55ional lees 51,135 1,050 4,612 14,600 95 3,121 1,283 600 9,239 161 2,OCX) 645 600 55.357 304 31,951 136 3,081 309 600 11,008 166 6(K> 89,141 103,513 4. TANGIBLE FIXEDASSETS Equipment COST As at 1 November 2022 Additions 10,612 A5 al 31 October 2023 10,612 DEPRECIATION Balance hroughl fowward Charge for the year 10.D12 600 Balance carried forward 10.612 NET BOOK VALUE
As al 31 October 2023 As al 31 Oclober 2022 soo
IQRAA FOUNDATION NOTES TO THE ACCOUNTS. 31 OCTOBER 2023 2023 2022 5. DEBTORS Other debtors 1,100 1,000 6. CREDITORS-. Amounts falling due wlthln one year Accruals 600 600 7. FUNDS Balance 01-Nov-22 Receipts Paymènts Balance 31Q¢l.23 Unr&strlcted Funds 174,405 106,710 89.141 191.975 8. ANALYSIS OF FUND BALANCES BETWEEN ASSETS 2023 2022 untricted Jnrestrlcted T8nglbl¢ fixe(l assets Current assets CurrÉnt liabilitiss." Amounts fallirTrg due within one ye8r 600 192,575 174,405 {60QI 16001 191,975 174,405