Ibrahim Trust Charity No. 1176238 Company No. 10902793 Trnstees. Report and Unaudited Accounts 31 August 2021 'A4FW258* 17111rk021 COMPANIES HOUSE
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Ibrahim Trust Contents Poges Tnjstees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts Detailed Statement of Financial Activities 1Sto Page I
Ibrahlm Trnst Trustees Annual Report Ibrahim trust rhe Trustees, who are also directors of the charity for the purposes of the Companies Art 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2021. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 10902793 Charity No. 1176238 Principal OffKe 75 Holly Lane Smethwick West Midlands B67 7LD Address Line 5 Registered Office 75 Holly Lane Smethwick Birmingham 866 IEY Olre¢tors and Trustees The Oirectors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year= M.1. Chaudhry M.H. Chaudhry Z. Hussain M. Sadeeq A. Sajjad Company Secretary A.H. Chaudhry A¢¢ountants SIAhmed&Co 238 Wednesbury Road Walsall West Midlands WS2 9QN OBJEcnvES AND ACTIVITIES The purpose of the charity as set out in its governing instrument is to promote sustainable development for the benefit of the public, who by reason of their social and economic circumstances. are unable to further their Islami¢ knowledge and preferred educational careerlpathwav. Page 2
Ibrahlm Trust Trustees Annual Rewt The main artivities undertaken in relation to those purposes are= al. Providing scholarships. bursaries and maintenance allowances at any approved school. college or other edutational establishment. bl. In providing financial a551Stance, tools and equipment. d. In constructing orphanages. nurser*s and schools. ACHIEVEMENTS AND PERFORMANCE In this year, Ibrahim Trust has continued to participate in tharitable work. Some of the highlights of our achievements are below.. Donated towards Emergency winter appeal Donated toward5 Ramadhan appeal • Donated cooked meals durlng Ramadhan • Distributed food parcels in hard hit regions in Pakistan Distributed cash donations in hard hit regions in Pakistan Paid for Childn,5 open-heart surgery in Pakistan Paid for children's medical surgeries in Pakistan Built Tube wells in Pakistan CuTrently in the process of building a new masjid in Sudan Oonated towards local masjid in expanding therr provisions for thÈ ltstal UK Community Donatin8 money towards the construction of new masjid in Gambta Donated monèy towards the upkeep ot masjid Al-Aqsa • Food distributions in Syria. Yemen. Kashmir. Afghanistan and Jerusalem Paid for the running of a bread factory in Yemen to help feed 45,5W people The Trustees are responsible for keepin8 proper accounting re¢ords that disclose wtth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other iriegularities. The above report has been prepared in accordance with the provisions applicable to companies Subject to the small companies re8ime as set out in Part 15 of the Companies Act 26 and irt accordance with the Charities SORP IFRS 1021. Signed o ehalf of the board M.1. Chaudhry Trustee 03 November 2021 Page 3
Ibrahlm Trust Independent Exaffliner5 Report Independent Examlner's Report to the trustees of Ibrahim Trust I report to the charity trustees on my examination of the accounts of Ibrahim Trust for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account. the Balance Sheet. the Statement of Cash Flows and the related notes. Responsibilitle$ and basis of report As the trustees of the charity land also its direttor5 for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirement5 of the Companies Art 2CQ61'the 2006 Act. Hawn8 sat15fied myself that the accounts of the eharity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respett of my examination of your charity's accounts as carried out tlnder section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Direction5 given by the Chartty Commission under section 14515llbl of the 2011 Act. Independent examiner's ststement I have completed my examination. I can confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe that= accounting record5 were not kept in accordance with section 386 of the 2th)6 Act ' or the accounts do not accord with those records.. or the accounts do not Comp with the accounting requirements under section 396 of the 26 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter coftsidered as part of an independent examination- or • the accounts have not been prepared in accordance with the Charities SORP IFRS 1021. I have no Concerns and have come across no other matters in connertion with the examination to which attention should be drawn in this report in order to enable a proper underst3ndine of the accounts to be reached. Syed Imtiaz Ahmed FMAAT. FAIA S l Ahrned & Co 238 Wednesbury Road Walsall West Mrdlands WS2 9QN 03 November 2021 Page 4
Ibrnhlm Trust Statement of Finan¢ial A¢tivit*s forthe year ended 31 Au8USt 2021 Unrestrlrted funds Total funds Total fund5 2021 2021 2020 Notes Incorne and end¢)wments from: Donations and legacies 70,976 70.976 6.000 Total 70.976 70.976 6.000 Expenditure on: Charitable activities Other 19.882 956 19,882 956 12.832 954 Total 20.838 20,838 13,786 Net gains on investments Net IncomellexpeTrdlture} Transfer5 between funds 50,138 50,138 17.7861 Net Incomellexpendlturel before other 8ains1110ssesl 50,138 50.138 17.7861 Other galns and losses Net movement in funds 50,138 50.138 17,7861 Reconclllatlon of fvnds: Total fund5 brought forward 44,154 44.154 51.940 Total funds carried forward 94,292 94.292 44,154 Page 5
Ibrahlm Trust Summary Income and ExpendIre Account for the year ended 31 Au8ust 2021 2021 Z020 Income 70.976 6.000 Gross In¢ome lor the year Expenditure 70.976 6,000 20,838 13,786 Total expenditure for the year Net income/lexpenditurel before tax for the year 20,838 13.786 50,138 17.7861 Net income /{expenditure )forthe year 50.138 17,7861 Page 6
Ibrahim Trust Balance Sheet at 31 August 2021 Company No. 10902793 Notes 2021 2020 Current assets Cash at bank and in hand 95.142 95.142 45,004 45,004 18501 44,154 Creditors: Amount falling due within one year 1850) Net current assets 94.292 Total assets less curwent liabilities 94,292 44,154 assets exdudin8 pensi¢)n asset or Ilablllty 94.292 44.154 Total net assets 94.292 44.154 The funds of the ¢harity Restrirted funds Unrestricted lunds General funds io io 94,292 44,154 94.292 44,154 Reserves io Total ful5 94.292 44,154 These accounts have been prepared in a¢¢ordan¢e with the special provisions of Part IS of the Companies Act 2006 relating to small companies. For the year ended 31 August 2021 the ¢ompany was entitled to exemption under section 477 of the Companies Act 2006 relating to small companie5. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Aa 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 03 November 2021 And signed on its tf by.. M.H. Chaud TnJ5tee 03 November 2021 Page 7
Ibrahim Trust Statement of Cash Ilows for the year ended 31 August 2021 2021 2020 Cash flows from operattng aclN5tles Net incomel(expenditure) per Ststement of Financial Activlties 50,138 17,7861 Net cash provided byllused In) operntine arthltles 50,138 17,7861 Net cash from Investing activitles Net Cash from financing aclivllSes Net Increasel{decreasel In cash and cash equivalents 50,138 17.7861 Cash and cash equivalents at the be8inning of the year 45,C#M 52,790 Cash and ¢ash equi¥alefits at the end of the year 95.142 45,004 Components of cash and cash equivalents Cash and bank b¥lances 95.142 45,004 95,142 45,004 Page 8
Ibrahim Trust Notes to the Ac¢ounts lor the year ended 31 August 2021 l A¢¢ountlng poliaes Ba515 of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5.' 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 IFRS 1021 leffective I January 20151 (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2(Kl6. Change in ha5is of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of ac¢ountingl since last year and no changes have been made to ac¢ounts for previous years. Fund accountlng Unrestricted funds These are available for use at the discretion of the trustee5 in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subjert to restrictions imposed by the donor or through terms of an appeal. Oesignated funds Revaluation funds Restricted funds Income Recognition of income Income is included in tht Statement of Finantial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive. the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the incowne and related expenditure is expenditure reported gross in the SOFA. Donations and Voluntary Income received by way of grants. donations and gifts is included in the the SOFA when receivable and only when the Charity has uncondltional entitlement to the income. Tax reclaim5 on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are onty included in income (with an eqvivalent amount in expenditilrel and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. legacies Volunteer help The value of any volunteer help received 15 not included in the account5. Investment income This is included in the accounts when receivable. Gains/llossesl on This includes any gain or10ss resujting from revaluing investments to market value revaluation of fixed at the end of the year. a55ets Gains/llossesl on Investment assets This includes any gain or loss on the sale of investments. Page 9
Ibrahim Trust Noles lo the Accounts Expendlture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported a5 Part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraisin8 raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable artivities serwces tn the furtherance of its objetts. includin8 the making of grants and governance costs. All grant expendiiure 15 accounted for on an artual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated wtth meeting the constitutional and statutory requirements of the Charity. including any auditlindependent examination fee5, Costs linked to the strategic mana8ement of the Charity. together with a Sho of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure T¥xation The charity is exempt from corporation tax on its charitable actNities. Freehold investment propertv Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and ale not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock 15 included at the lower of cost or nei realisable value. Donated items of stock are re¢o8nised at fair value which Is the amount the charity would have been willing to pay for the item5 on the open market. Trade and other debtors Trade and other debtors a reco8ni5ed at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepJid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents ¢omprise cash at bank and on hand. demand deposits with banks and other 5hort-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of finanaal position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Fl¢)ws. cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and fomi an integral part Of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past efit that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nomially recoEnised at their Settlement amount after allowing for any trade discounts due. Page 10
Ibrahim Trust Notes to the A¢¢ounts Research and development Expenditure on research and development is written off in the year in which it 15 incurred. Foreign currencies Monetary asset5 and liabilities denominated in currenaes other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transaction5 in currencie5 Other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange dbfferences are are taken into account in arrivin8 at net incomelexpenditure. Leased assets Where the charity enters into a lease which entaib taking substantially all the risks and rewards of ownership of an a55et, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charrty at their fair value at the inception of the lease or. if lower. at the present value of the minimum lease payments. The corresponding liability to the le01 is included in the balance sheet date as a finance lease obligatlon. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expense5 are recognised immediately. unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Opprating lease payments are recognised as an expense on a strnight-line basis over the lease term. In the event that lease incentives are receNed to enter into operating leases, such incentives are recognised as a liabilrty. The aggregate benefit of incentive$ 15 reco8nised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contributlon plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obliÉation5. The contributions are re¢o8ni5ed as expenses when they fall due. Amounts not paid are sh¢)wn in accruals in the balance sheet. The assets of the plan are hekl separately from the company in independently administered funds. Receipt of donated goods, facilit5es and services All donated goods, fa¢ilTrties and services received are reco8nised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company limited by guarantee and consequently does ftot have share capital. Page 11
Ibrahlm Trust Notes to the Accounts 3 Statement of Flnandal Actl¥tties- wior year Unrestricted lunds Totsl funds 2020 2020 Income and end17wments from". Donations and legacies 6.000 Total 6,0) 6,000 Expendlture on: Charitable activities 12.832 12,832 954 Other 954 Total 13,786 13.786 Net Income 17.7861 17,7861 Net Incame before other 8ainsl(losses} Other gains and losses: Net mo¥ement In funds 17,7861 17,?861 17,7861 17,7861 Re¢on¢iliation of fvnd5: Total funds brought forward 51.940 51,940 Tot•1 fund5 carried forwanl 44,154 44,154 4 Income from don*ions and legacies Unrestrkted Totsl Total 2021 2020 General donations 70.976 70,976 70.976 70,976 6.000 6,000 5 Expenditure charitable acti¥ltles Unrestrirted Total Total 2021 2020 Expenditure on choritoble uctivities Grants made 19.882 19.882 12.832 Governonce costs 19.882 19.882 12.832 Page 12
Ibrahim Trust Notes to the Accounts 6 Analysis of grants Grants to Institutions Grants to Artivity or programme Individuals Total Total 2021 2020 16,876 16,876 12.832 16.876 19.882 12,832 Grant fundlng of activities Artl¥lty or programme Totsl Total 2021 2020 19,882 19.882 19,882 19,882 12,832 12,832 7 Other expend51ure Unrestrkted Total Total Z021 2020 General administrative costs 93 93 91 Le8al and professional costs 863 863 863 956 956 954 8 5tsff casts No employee received emoluments in excess of £60,000. 9 Creditors: amcntS fallin8 due within one year 2021 2020 Accruals and deferred income 850 850 850 850 Page 13
Ibrahlm Trust Notes to the Accounts 10 Movement in funds Incoming resources At31 (Including Atl other September 8alnsllosses 2020 Resources expended Augusl 2021 Restricted funds: Unrestricted funds: General fund5 44.154 70,976 120,8381 94,292 Revaluation ReseThe5: Total fvnds 11 Analysis of net assets between funds 44.154 70.976 120,8381 94.292 Unrestricted fund5 Total Net current assets 94,292 94,292 94,292 94,292 12 R¢con¢iliatlon of net debt Ati September 2020 At31 August 2021 Cash Ilows Cash and cash equivalents 45,CW)4 45.004 50.138 50.138 95,142 95.142 Net debt 45,CIM 50.138 95,142 13 Related party disclosures Controlling party The company is limÉted by Buarantee and has no share capital- thus no single party controts the company. Page 14
Ibrahim Trust Oeiailed Ststement of Finanaal Acti¥illes for the year ended 31 August 2021 Unrestricted funds Total funds 2021 Totsl lunds 2020 2021 Income and endowments from: Donations and legacies General donations 70,976 70.976 70.976 70,976 6,OCK) 6.0 Total Income and endowments 70.976 70,976 6,OC Expenditure on: Charitable activities Grants made 19.882 19.882 19.882 19,882 12,832 12,832 Tffjal of expendlture on drItable a¢tivilies 19,882 19,882 12,832 General administrative costs, including depreciation and amortisation Bank charges Telephone, fax and broadband 91 91 91 91 93 93 Legal and profe55ional Costs Accountancy and bookkeeping Othei legal and prolessional costs 850 850 850 13 13 13 863 863 863 Total of txpendlture of other costs Total expendlture Net gains on investments 956 956 954 20.838 20,838 13.786 Net incomellexpendlturel 50.138 50.138 17,7861 Nel incomellexpendlturel before other gain5lllossesl Other Gains 50.138 50,138 17,7861 Net rnovement in funds 50.138 50.138 17,7861 Reconcilialion of funds: Total funds brought forward 44,154 44,154 51,940 Total funds Carrled foTrward 94.292 94.292 44,154 Page 15