Charity registration No. 1179677 Company registration No. CEO14961 (England and Wales)
Islamic Provision Annual Report and Unaudited Accounts
25 March 2024
## **Islamic Provision Contents**
||**Page**|
|---|---|
|Company information|1|
|Trustee's report|2-4|
|Independent Examiner's Report|5|
|Profit and loss account|6|
|Balance sheet|7|
|Notes to the accounts|8-10|
## **Islamic Provision**
## **Report of the Trustees for the year ended 25 March 2024**
The turstees present their annual report and audited financial statements for the year ended 25 March 2024 and confirm they comply with the Charities Acts.
## **Reference and Administrative Information**
|**Charity Name**|Islamic Provision|
|---|---|
|**Charity Number**|1179677|
|**Company number**|CEO14961|
|**Principle address**|Unit 903|
||Victory Business Centre|
||Somers Road North|
||Portsmouth|
||PO1 1PJ|
|**Trustees**|M.S Hussain- Chair|
||N. Ali|
||M.M. Islam|
||R.I.Sumon|
||Mohammed Nurul Haque- Appointed on 28.03.2024|
||Abul Kalam M Tareq- Appointed on 28.03.2024|
||A. Rahman- Resigned on 28.03.2024|
||A. Sayad- Resigned on 28.03.2024|
|**Accountants & independent examiners**|BC&A Chartered Accountants|
||161Elm Grove|
||Southsea|
||Portsmouth|
||PO5 1LU|
1
**Islamic Provision Report of the Trustees**
**for the year ended 25 March 2024**
## **Structure, governance, and management**
## **Governing document**
Islamic Provision is constituted as a charitable trust registered with the Charity. Commission in August 2018 under charity number 1179677 and is governed by a deed of trust.
## **Organizational structure**
The charity’s trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.
The trustees meet as a body at least quarterly and are responsible for all decisions taken in relation to the running of the charity.
## **Recruitment and appointment of trustees**
position.
## **Induction and training of trustees**
All existing trustees are given copies of the trust deed and a guide to the policies and procedures adopted by our charity. Several publications from the Charity Commission are also provided, including guidance on charities and public benefits. This ensures that all trustees are aware of the scope of their responsibilities under the Charities Act
Regular meetings and discussions are held to evaluate each trustee’s performance.
## **Risk management**
Islamic Provision takes risk management seriously and keeps records on all spending, as well as require that all project managers sign in agreement with Islamic provision’s terms & conditions. Donations can only be spent on the specific project it was donated to. Any misuse
of the charity’s money or breach of the charity’s terms & conditions is taken very seriously and reported to local authorities and charity commission immediately.
## **Objectives and activities**
The aims and objective of Islamic provision are:
1. To advance the Islamic faith for the benefit of the public in accordance with the statements of belief appearing in the schedule.
2. Prevention or relief of poverty in Bangladesh, Nigeria, Sudan, Yemen, England and occupied Palestinian Territories by providing grants, food and services to individuals and /or charities that are in need. The charity work has been done in the above countries directly by Islamic Provision’s dedicated volunteers. Not in co-operation with any other local charities, group or representatives.
## **Strategies**
Our charity aims at achieving this objective by building water wells in places where water isn’t readily available in the community.
We also educate communities in a bid to eradicate poverty and send food and medication to places of emergencies.
We help the homeless in Portsmouth, UK by providing food and assisting them to look for jobs.
## **Use of volunteers**
Islamic Provision recruits local volunteers to help with the UK based projects which are involved with feeding the homeless & helping refugees.
Overseas project managers oversee all overseas volunteers that help in humanitarian aid.
All project managers and volunteers involved with the charity signed an agreement with Islamic provision to have their background checked as Islamic Provision doesn't allow anyone with a criminal record to be involved with the charity.
## **Activities and achievements**
consider that these activities, summarized below, provide benefit both to people in the UK and abroad.
2
**Islamic Provision Report of the Trustees**
**for the year ended 25 March 2024**
## **How our activities deliver public benefit**
We have built few water wells so far in Bangladesh, we have provided water purifier in a Hospital in Gaza, Palestinian and Yemen.
In 2023, we were able to help some people who needed food supplies during the Coronavirus Pandemic in Bangladesh, Palestine, Sudan, Yemen.
We give food donations to orphans in Gaza, Palestine and Yemen and help give them education to help them secure a better life.
We help the homeless and refugees in Portsmouth, UK by providing them with food.
We are distributing Quran translation to introduce people to the authentic Islam in Bangladesh and UK so far.
## **Financial review**
## **Reserves policy**
We are a small charity with limited income, money is spent immediately after we receive money gifts to fund specific projects. During the reporting period, the charity did not hold any funds in reserve.
The funds released as it’s received on a regular basis for the dedicated purposes.
## **Principal funding sources**
The charity’s main source of income is money given by friends, family, the local community, and local businesses.
## **Investment policy and objectives**
The charity has no immediate plan to invest.
## **Statement of Trustees’ responsibilities**
The charity trustees are responsible for preparing an annual report and 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 the financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP.
- make judgements and estimates that are reasonable and prudent.
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Acts. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
3
**Islamic Provision Report of the Trustees**
**for the year ended 25 March 2024**
The trustees for the purposes of charity law who served during the year and up to the date of this report are set out on page 1.
Approved by the trustees and signed on its behalf by:
________________________
M.M Islam (Trustee) Date:
4
## **Islamic Provision Independent Examiner's Report**
## **To The Trustees of Islamic Provision**
I report on the accounts of the charity for the year ended 25 March 2024.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general directions given by
the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Basis of examiner’s statement**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s qualified statement**
Subject to the limitations upon the scope of my work as detailed above, in connection with my examination, I can confirm that in the course of my examination, no matter has come to my attention.
__________________ Name: Tahir Ahmed, FCA, ACMA, BSc (Hons) BC&A Chartered Accountants
4 December 2024
5
## **Islamic Provision Statement of Financial Activities For the year ended 25 March 2024**
|Notes
**Income and endowments:**
Donations and legacies
1
**Total income and endowments**
**Expenditure**
**Resources expensed**
2
Other expenses
3
**Total charitable expenditure**
**Net movement in funds**
Fund balances at 26 March 2024
7
**Fund balances at 25 March 2024**|Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
£
£
£
-
32,526
32,526
-
32,526
32,526
-
25,468
25,468
-
-
-
-
25,468
25,468
-
7,058
7,058
145
7,405
7,550
145
14,463
14,608|Total
Funds
2023
£
41,315
41,315
49,287
200
49,487
-8,172
15,722
7,550|
|---|---|---|
6
## **Islamic Provision Balance Sheet As at 25 March 2024**
|**Notes**
**2024**
**£**
**£**
**Current assets:**
Cash at bank and hand
6
14,608
**Total current assets**
14,608
Creditors falling due within 1 year
-
**Net current assets**
14,608
**Net assets**
14,608
**The funds of the charity:**
Unrestricted funds:
General funds
145
Total unrestricted funds
145
Restricted income funds
7
14,463
**Total charity funds**
14,608|**2023**
**£**
**£**
15,722
15,722
-
15,722
15,722
145
145
15,577
15,722|
|---|---|
The trustees acknowledge their responsibility for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
## ____________
M.M Islam Trustee Approved by the Trustees on
7
**Islamic Provision Notes to the accounts For the year ended 25 March 2024**
## **1 Accounting policies**
## **Charity information**
Islamic Provision is a charitable incorporated organisation in England and Wales. The principal address is Unit 903 Victory Business Centre, Somers Road North, Portsmouth. PO1 1PJ
## **Accounting convention.**
The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bullet 1 not to prepare a Statement of Cash flows.
The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going Concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions required deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is unknown, the legacy is treated as a contingent asset.
8
## **Islamic Provision Notes to the accounts For the year ended 25 March 2024**
Grants are credited as income in the year in which they are receivable. Grants received for specific purposes are accounted for as restricted funds. Grants are not recognised as receivable until all conditions for receipts have been complied with.
## **1.5 Resources expended.**
All expenditure is accounted for on an accruals basis and includes VAT which cannot be recovered.
## **1.6 Tangible Fixed Assets**
Tangible Fixed Assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment: reducing balance method @20%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **2 Critical accounting estimates and judgements**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
9
**Islamic Provision Notes to the accounts**
**----- Start of picture text -----**
1 Donations and legacies Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
£ £ £ £
Donations and gifts - 32,526 32,526 41,315
- 32,526 32,526 41,315
2 Resources expensed Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
£ £ £ £
Food distribution - 4,315 4,315 12,075
Other charitable activities 21,153 21,153 37,212
- 25,468 25,468 49,287
3
Other expenses 2024 2024 2024 2023
£ £ £ £
HMRC late filing fine - - - 200
- - - 200
**----- End of picture text -----**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2024|2023|
|4|Employees|Number|Number|
|Average number of employees|-|-|
**----- End of picture text -----**
## **5 Trustees** None of the trustees (or any persons connected to them) received any remuneration during the year.
**----- Start of picture text -----**
||||
|---|---|---|
|2024|
|6|Analysis of cash movement|£|
|Balance b/f|7,550|
|Income|32,526|
|Expenses|-25,468|
|Balance at 25 March 2024|14,608|
**----- End of picture text -----**
## **7 Analysis of charitable funds**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|
|Analysis of fund|Balance b/f|resources|expended|Transfers|Fund c/f|
|£|£|£|£|£|
|Unrestricted funds:|
|Unrestricted gener|145|-|-|-|145|
|145|-|-|-|145|
|Incoming|Resources|
|Balance b/f|resources|expended|Transfers|Fund c/f|
|Restricted funds:|
|Restricted general|7,405|32,526|25,468.00|-|14,463|
|7,405|32,526|25,468.00|-|14,463|
**----- End of picture text -----**
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