Registered number: 1179485
NASIHA FOUNDATION TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Accountax Consultants UK Ltd
Chartered Certified Accountants & Registered Auditors
The Basement, Goodmayes House 45-49 Goodmayes Road Ilford London IG3 9UF
Nasiha Foundation Trustees’ Report and Unaudited Financial Statements For The Year Ended 31 March 2021
Contents
| Contents | |
|---|---|
| Page | |
| Company Information | 1 |
| Trustees Report | 2 |
| Independent Examiner Report to trustees | 4 |
| Statement of financial activities | 5 |
| Balance Sheet | 6 |
| Income and expenditure account | 7 |
| Notes to the Financial Statement | 8 |
Nasiha Foundation Charity Information For The Year Ended 31 March 2021
Trustees Mr Mohammed Minhajuddin Mr Abrar ul Haq Mohammad Mr Meraj Ahmed Syed Charity Number 1179485 Registered Office 108 ST. ALBANS ROAD ILFORD IG3 8NW Accountants Accountax Consultants UK Ltd Chartered Certified Accountants & Registered Auditors The Basement, Goodmayes House 45-49 Goodmayes Road Ilford London IG3 9UF
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Nasiha Foundation Charity No. 1179485 Trustees' Report For The Year Ended 31 March 2021
The trustees present their report and the financial statements for the year ended 31 March 2021.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is a charitable Incorporated Organisation, governed by memorandum and articles incorporated 08 August 2018.
Organisational Structure
The Trust is a registered charity in England, number 1179485 and is constituted under a memorandum and articles dated 08 Aug 2018. The trustees are responsible for the general control and management of the charity. The trustees give their time freely without any remuneration. The trustees meet on a regular basis and are responsible for all decisions taken in relation to the overall control and strategic management of the charity.
Recruitment, Appointment and Training of Trustees
The existing trustees are responsible for the appointment of new trustees. New trustees are brought into the organisation, when required, on the basis of eligibility, competence, specialist knowledge and skills. It is the policy of Nasiha Foundation that, upon induction, each trustee is given a copy of the trust deed, the latest accounts (if available), recent meeting minutes and guidance regarding the policies and procedures adopted by the charity.
CHARITY OBJECTIVES
The objective of the charity is mainly to provide Prayer Services, Community Gatherings and Lectures, Educational Support, Providing Food rations to poor and Flood victims in UK and India.
Public Benefit
In carrying out this review the trustees of Nasiha Foundation have taken regard of and comply with the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on advancement of the religion of Islam for the public benefit in accordance with the teachings of Sunni Islam in such a way by providing educational and curricular study support activities and to provide private and community worship through conducting weekly services, festival prayers and supporting the poor.
Future Plans
Charity is committed to provide continuous support to the people in need and also strive for creating a better society by contributing in the areas of education or training, the prevention or relief of poverty, promoting good relations between persons of different faiths, and promoting respect of the beliefs and practices of different religious faiths.
FINANCIAL REVIEW
The principal funding sources of Nasiha Foundation during the year were donations from various individuals, religious courses and Unrestricted Grant from the council.
Below are detailed activities carried out by Nasiha foundation between 1st April 2020 to 31st March 2021.
Monthly and weekly Talks:
Even during the pandemic, Sheikh continued regular talks and classes to benefit the students of knowledge and the public in general. These were about various important issues concerning our societies. However, prayers had to be held in an alternative smaller venue, and so communal prayers for men were facilitated, upon whom the service is compulsory, and the congregation was split in to two smaller services to allow for social distancing and management of all other safety measures.
Many people enjoyed and benefited a lot from these daily prayer’s sessions during the pandemic, where many of us were worried about ourselves and also our families.
Educational Support:
Nasiha Foundation also offered his expertise with learning of the Quran for children and adults. Many families from the UK and abroad have benefited. The Islamic studies is focused on everyone in the community.
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Nasiha Foundation Charity No. 1179485 Trustees' Report For The Year Ended 31 March 2021
Raising funds for charity work in India:
Many people responded to the call to support those who are in need, especially children from poor families in Hyderabad (India) and surrounding areas. We received donations from many brothers and sisters especially during the month of Ramadan.
we are working with Al- Faizan Educational and Charitable Trust in Hyderabad, as it is a registered Trust in India and has been working in the field for many decades helping poor families educate their children and looking after their essential needs. The trustees are also well known to the Board members of Nasiha Foundation.
Sponsoring For Poor Students and provision of Rations:
we managed to support 225 children from poor backgrounds with their expenses for education, food and accommodation.
300 packs of food ration (containing rice, oil, lentils, tea, sugar and some spices ) were distributed among the poor people who earn their living on a daily basis and were very much affected because of the severe lockdown with no support.
Flood victims:
Some areas of Hyderabad saw very bad sudden flooding which affected many people.
Alhamdulillah Nasiha Foundation helped 50 families with basic necessities such as blankets, bedsheets and clothes for children.
Trustees Responsibilities
The trustees present their report and the financial statements for the year ended 31 March 2021.
The trustees are responsible for preparing the trustees Report and the financial statements in accordance with applicable law and regulations. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in services.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the trusts transactions and disclose with reasonable accuracy at any time the financial position of the company. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees’
The Trustees who held office during the year were as follows:
Mr Mohammed Minhajuddin
Mr Abrar ul Haq Mohammad
Mr Meraj Ahmed Syed
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Mohammed Minhajuddin Trustee
31/01/2021
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Nasiha Foundation Accountants' Report For The Year Ended 31 March 2021
To The Trustees of Nasiha Foundation:
We report to the charity trustees on our examination of the accounts of the Trust for the year ended 31[st] March 2020.
Trustees & Examiner Responsibilities
As the charity’s trustees of the foundation, you are responsible for the preparation of the accounts in accordance with the requirements of the charities Acts 1992 and 1993.
Having satisfied our self that, the accounts of the charity are not required to be audited for this year as the income is below threshold and are eligible for independent examination, It is our responsibility to:
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To examine the financial statements under section 145 of the Charities Act 2011 (“the 2011 Act”).
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To follow the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act).
Independent Examiner Statement:
We confirm that no material matters have come to our attention which gives us cause to believe that:
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accounting records were not kept in accordance with charities commission; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements 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; or the accounts have not been prepared in accordance with the Charities SORP (FRS102).
We 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.
Accountax Consultants UK Ltd Chartered Certified Accountants & Registered Auditors The Basement Goodmayes House, 45-49 Goodmayes Road Ilford IG3 9UF
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Nasiha Foundation Statement Of Financial Activities For The Year Ended 31 March 2021
| Notes Income and endowments from: Donations and legacies (2) Total Expenditure on: Charitable activities (3) Total Net income/(expenditure) Transfers between funds Net movement in funds (5) Reconciliation of funds: Total funds brought forward Total funds carried forward (5) |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds £ £ £ £ 2021 2021 2021 2021 26,950 - - 26,950 |
|---|---|
| 26,950 - - 26,950 |
|
| (19,585) - - (19,585) |
|
| (19,585) - - (19,585) |
|
| 7,365 - - 7,365 |
|
| - - - - |
|
| 7,365 - - 7,365 |
|
| - - - - |
|
| 7,365 - - 7,365 |
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Nasiha Foundation Balance Sheet As at 31 March 2021
| Notes CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 3 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2021 £ £ 8,860 8,860 - 8,860 8,860 8,860 8,860 8,860 |
2021 £ £ 8,860 8,860 - 8,860 8,860 8,860 8,860 8,860 |
2020 £ £ 2,295 2,295 (800) 1,495 1,495 1,495 1,495 1,494 |
|---|---|---|---|
| 8,860 - |
2,295 (800) |
||
| 8,860 | |||
| 8,860 | |||
| 8,860 | |||
| 8,860 |
For the year ending 31 March 2021 the charity was entitled to exemption from audit as the threshold has not yet been crossed.
Trustees’ responsibilities:
-
The members have not required the company to obtain an audit in accordance with charities commission.
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The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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These accounts have been prepared in accordance with the provisions applicable to charities commission.
On behalf of the board
Mr Mohammed Minhajuddin Trustee 31/01/2021
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Nasiha Foundation Detailed Income and Expenditure Account For The Year Ended 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| TURNOVER | |||||
| Donations | 26,950 | 10,901 | |||
| GROSS SURPLUS | 26,950 | 10,901 | |||
| Administrative Expenses | |||||
| Travel expenses | - | 635 | |||
| Rent | - | 1,051 | |||
| Vehicle fuel costs | - | 2,016 | |||
| Computer software Costs | 475 | - | |||
| Books & Journals | - | 94 | |||
| Telecommunications | 66 | 58 | |||
| Accountancy fees | - | 400 | |||
| Bank charges | 50 | 81 | |||
| Charitable donations | 19,795 | 7,100 | |||
| (20,386) | (11,435) | ||||
| OPERATING (DEFICIT)/SURPLUS AND (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR |
6,564 | (534) |
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Nasiha Foundation Notes to the Financial Statements For The Year Ended 31 March 2021
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102), and with the Charities Act 2011.
1.2. Going Concern Disclosure
The Trustees are not aware of any material uncertainties about the charity’s ability to continue as a going concern. The financial statements have therefore been prepared on the basis that the charity is a going concern.
1.3. Income
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and there is certainty of receipt.
Donations and legacies: This comprises all incoming resources from donations and gifts collected directly and income from fundraising events during the year.
1.4. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of obligation can be measured reliably.
1.5. Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements
2. Foreign currency translation
The financial statements are presented in Sterling (£).
3. Average Number of Employees
Average number of employees, including Trustees, during the year was as follows: NIL (2019: NIL)
4. Creditors: Amounts Falling Due Within One Year
| . Creditors: Amounts Falling Due Within One Year | ||
|---|---|---|
| Accruals and deferred income | 2020 £ - - |
2021 £ 800 |
| 800 |
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Nasiha Foundation Notes to the Financial Statements For The Year Ended 31 March 2021
5. Donations & legacies
| Donations from individuals . Expenditure on charitable activities Travel expenses Rent Traveling Computer software costs Books & journals Telecommunications Accountancy Income Bank charges Charitable donations |
Unrestricted Funds 2021 £ 26,950 26,950 Unrestricted Funds 2021 £ - - - 475 - 65 - 50 18,995 19,585 |
Restricted Funds 2021 £ - - Restricted Funds 2021 £ - - - - - - - - - - |
Total Funds 2021 £ 26,950 26,950 Total Funds 2021 £ - - - 475 - 65 - 50 18,995 19,585 |
Total Funds 2020 £ 10,901 |
|---|---|---|---|---|
| 10,901 | ||||
| Total Funds 2020 £ 635 1,051 2,016 - 94 58 400 841 7,100 |
||||
| 11,435 |
6. Expenditure on charitable activities
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Nasiha Foundation Notes to the Financial Statements For The Year Ended 31 March 2021
7. Cash at bank and on hand
| Cash at Bank & on Hand 2. Statement of funds Unrestricted Funds General funds Restricted Funds Grant and subsidies received Total Funds |
At 1st Apr 2020 £ 1,495 - 1,495 |
Income £ 26,950 - 26,950 |
2021 £ 8,860 8,860 Expenditure £ (19,585) - (19,585) |
2020 £ 2,295 2,295 At 31st Mar 2021 £ 8,860 - |
||
|---|---|---|---|---|---|---|
| 8,860 |
12. Statement of funds
13. Trustees Remuneration
No trustees have received any payment and benefits or remuneration from the company during the year.
14. Related Party Transactions
There were no transactions with related parties in the year.
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