## **THE STRAIGHT PATH** **DIRECTORS REPORT AND ANNUAL ACCOUNTS FOR THE YEAR ENDED 31[ST] MARCH 2024** ## **CHARITY NO. 1180600** ## **COMPANY (CIO) REGISTRATION NO. CE015561** 1 ## **THE STRAIGHT PATH** ## **DIRECTORS REPORT AND ANNUAL ACCOUNTS** ## **FOR THE YEAR ENDED 31[ST] MARCH 2024** ## **Contents** ||**Page**| |---|---| |**General Information**|**3**| |**Trustees Report**|**4-6**| |**Independent Examiners’ Report**|**7**| |**Statement of Financial Activities**|**8**| |**Balance Sheet**|**9**| |**Notes to the Accounts**|**10 - 14**| ## **GENERAL INFORMATION** **Name of Charity:** The Straight Path **Address:** 11A Charing Cross Road Charing Cross London WC2H 0EP **Tel:** 07722486302 **E-mail:** info@the-straight-path.co.uk **Registered Charity No.** 1180600 **Company (CIO) Registration No.** CE015561 **Board of Trustees:** **The Trustees of the Charity comprise the Management Committee as from time to time constituted.** **Name Position lrfan Liaqut Chair & Trustee Abdelhak Benallel Trustee Ahmed Wallid Bahadur Treasurer & Trustee Sarder Amir Vice Chair & Trustee Iftikhaar Hussain Trustee** **Banker: Barclays Whitechapel - 240 Whitechapel Road Whitechapel London - E1 1BJ** 3 ## **THE STRAIGHT PATH TRUSTEE’S REPORT PERIOD ENDED 31 MARCH 2024** ## **History, ObJectives and Activities of The Straiqht Path** The Trustees (who are all Trustees as well) of the Straight Path submit their report and annual for the period ended 31st March 2024. The straight path was registered with the charity commission as a Charitable Incorporated Organisation (CIO) on 7th November 2018. ## **The Objectives of the straight path are:** 1. To relieve financial hardship, distress and suffering among the homeless, poor people and other people in need by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the provision of food, clean water, clothing and accommodation for the benefit of the said persons; 2. To advance education for the benefit of the poor, the illiterate and the general public by means of, but not exclusively, the provision or assistance in the provision of educational resources, equipment, activities and facilities, such as nurseries, schools and scholarships; 3. To advance the religion of Islam by means of, but not exclusively, the provision of facilities and publications for Islamic education and propagation of Islam in accordance with the teaching of the Quran and the Sunnah of the Prophet Muhammad (Peace be upon him) as interpreted by the Ahle Sunnah Wal Jamaa school of thought. ## **Structure, Governance and Management** The Straight Path is governed by a constitution. It is governed by the regulations set out in the constitution and run by the Board of Trustees. The charity’s new Board Members are elected at the Annual General Meeting every two years. The Board of Trustees are normally briefed by the Chair and the Secretary to familiarise themselves with the rules, regulations and responsibilities of the charity. The Board of Trustees met 5 times during the year to review the activities of the charity including the approval of the annual report and accounts as well as budgets, capital expenditure and to set out the fund-raising date for the charity. The day-to-day work of the charity is overseen by the Board of Trustees. The Board of Trustees are aware of the potential risks to charity, both financially and otherwise. Therefore, strategies are in place to control these risks. The Board of Trustees are seriously looking into other areas of risk, such as operational, governance and compliance with law and regulations. 4 ## **Achievements and Performance of The Straight Path:** ## **Board of Trustees:** 1. Irfan Liaqut - Appointed 13/09/2018 2. Ahmed Walid Bahadur - Appointed 13/09/2018 3. Sarder Amir – Appointed - 24/06/2019 4. Abdelhak Benallel – Appointed – 02/04/2023 5. Iftikhaar Hussain – Appointed – 10/04/2023 ## **Board of Trustees Meeting** During the year, the straight path held five board of trustees’ meetings to review organisational progress. Responsibilities included oversight of financial management, strategic planning, and partnership development. ## **Qur’an and leaflet distribution:** Total Qur’an distributed - 24,500 Total other books & leaflets distributed – 280,000 Qur’an and Booklets/leaflets were supplied by the following charities: - Discover Islam - One true message foundation - Connecting Communities Trust ## **Food distribution for the homeless** The charity mainly focused on education and material distribution for this financial year. No food was distributed in the financial year. No grants were successful this financial year. No loans were made. ## **Financial Review** The financial position of the Charity is portrayed in the accompanying Annual Accounts 5 Statement of the Trustees, Res onsibillties Law applicable to charities in England & Wales requires the Trustees to prepare financial slalement for each financial year, which gives a true and fair view of the charity's financial activities during the year and of its financial poSit￿n at the end of the year. In preparing those financial statements, the Trustees are required to.. Select suitable accounting policies and apply consistently Make judgements and eslimates Ihal are reasonable and prudent., State whether applicable accounting Standards and statements of recommènded pradice have been followed, subject to any departures disclosed and explained in the financial statements.. Prepare the financial statements on a going concern basis unless il is inappropriale to presume that the charity will continue in operation. The Trustees are responsible for keeping accounling records, which discloses with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply with the charity act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Reserve Polic It is the policy of the charity that unrestricted funds, which have not been designated for a specific use. should be maintained at a level equivalent to at least three-months expenditure. The Board of Trustees consider that reserNes al this18vel will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The Straighl Path will adively work to achieve this level of reserves. Risk Factors The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The Board of Trustees approved the accounts on 26th January 2025 at the Board of Trustees Meeting and signed on their behalf by: Abdelhak benallel Trustee Ahmed Walid Bahadur Treasurer Dated.. 26th January 2025 THE STRAIGHT PATH YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINERS. REPORT TO THE DIRECTORS ON THE UNAUDITED ACCOUNTS I report lo the charity's trustees on my examination of the accounts of the ¢ompany for the yar ended 31st March 2024. Respective Responslbllities and Basls of Report As the Charity's trustees l and also its directors for the purpose of the company lawl you are responsible for the preparation of the accounts in a¢cordance with the requlrements of the Companies Act 2006 {'Ihe 2006 ACVI. Having satified that the aceounts of the company are not required to be audited under section 144 01 the Charities Act 2011 (the Charities Acll and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the charities Act 20111'lhe 2011 Act.). In carying out my examination I have followed the Directions given by the Charity Commissioners under section 145151 Ib) of the 2011 Act. Independent Examlners. SLitement In connection with my examination I confirm that no matter have Come lo my attention gNing me cause to believe that in any material respecl".- 1. accounting records were not kept in respect of the Company as required by secb'on 130 of the Charities Act", or 2. the accounts do not accord with those records," or 3. the accounts do not comply with the accounting requirements (Accounts and Reports) of Chanttes regulations 2008 other than any requirement that the accounts give a 'true and fairf view which not matter considered as part of an independent examination.. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS10211. I have no concern and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mdl ssain BSclHonsl FCCA lftakher & Co. Chartered Certified Accountants & Registered Auditors 44 Whitechapel Road Unit- G9 Clifton Trade Centre London E1 5NF Dale.. 26th January 2025 THE STRAIGHT PATH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 2024 2024 Vnrfrstrfd RestTi¢ttrd Funds Fundj 2024 Total 2023 Totsl Notes Incoming R•sour¢es Activities lo further the Charity's objects Other Incoming ReSour￿S Total Re￿IVed 40.286 40,288 65.731 40,286 40.288 65,731 Resouree¥ Expend8d Direct Charitable Expenditure:. Costs of activilies for charitable objectives Support Costs Management and Administration 25.201 25.201 27,352 1,418 800 1.418 800 401 814 Totsl Exponditure 27,419 27,419 28,S67 Nèt Incoming Resourcos b6fore Trnnsfers 12.867 12,867 37,164 Transfer betsveen lunds Net In¢oming Rèsources for thè Yèar 12,867 12,867 37,164 Fund 8alan¢es blf 01.04.23 49,667 49.667 12,503 Fund Balancos ¢ff 31.3.24 62.534 62,534 49.687 The notes on Pages 10 to 14 form part of these accoynls. THE STRAIGHT PATH BALANCE SHEET AS AT 31 MARCH 2024 2024 2024 Unre8trfd R•stricted Fundg Funds 2024 TLlt•l 2023 Total N¢t Curr•nt Assets Debtors Cash at Bank and in Hand 63,630 63,634 1,100 63,630 53.003 63.634 53.003 1,100 3,336 Crnditors Amounts falling due within one yea¥ Net Ass•ts 62.534 62,534 49.667 Fund8 Restrictèd Funds Unrestricted Fund8 62,534 62,534 49,667 Total Funds 62,534 62,534 49.667 Thè accounts were approved by the Directorstrrustees on 26th January 2025, and signed on their behalf by:_ Abdelhak 8enallo1 Tr Ahmad Wallid Bahadur Trustee Trga$urer The notes on Pages 10 to 14 form part of these accounts. THE STRAIGHT PATH NOTES TO THE ACCOUNTS YEAR ENDEO 31 MARCH 2024 Accounting Polici•¥ Summary ol ¥ignilicant aecollnting poll¢l•$ and k•y ac¢oyntyng estimates The prinGipal accountin9 policies applied in Ihe pteperalion of these financial siatements are set out below. These polKie8 have been consi$tenlty applied to all the years presented, unless olherise ststed Stat8n*nt of ¢ompli*nce The financial statements have been prepared In accordance with Accounting and Reporting by Charil*s.' Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting StsndaTd applicable in the UK 8nd RepL¢blic of Ireland IFRS 1021 lerfeclive January 20151- {Chat￿S SORP IFRS 10211. T￿Y also cornply with the Companies kl 2006 also compty th the Compan￿5 Act 2006 and Charities Act 2011. Ba8is of Preparation of Accounts The charity meets the dèfination ol a public benefit entity under FFIS102. Assets and Iiabililies are initialty recogni5ed at hkstorical cost conventy'on or transaction value unless Oth?rwise slated in the le￿vent Accounling policy notes. Going concern The financial Stalernenls have been prepared on a going concem basis The trustees asses wether the se of going concern is appropriate i.e. whether there arè any malerial uncertain1t￿5 ￿lated to events or conditions that may cast s&nrfi¢anl doubl on the atmlity of the charity to ¢ontinue as a going concern. The trustee5 make the assessment in respect of a period of one year from the date of approval of the Ihe financial staiements. Exempllon from pr•parfng a cash flow ststsment The charity opted lo adopt Bulletin 1 published on 2 February 2016 and have therefore not included cash flow statement in these financial ststernenl. Fund A¢¢ounting The Charity's general fund ¢on$i$t of funds which the Charity may use for rts charitable obj8cts at Ihe dIsC￿tion of the Trustees. The de51gnated funds are monie5 set aside oul of general funds by the Tru51ees for specific wrp05es. The Charity's ￿$tricted fur￿5 are those where the donor has imposed re5trn¢tions on the use ol the funds which are legally binding. Detsils ol the funds are given in Note 8. Incorning Regourceg - Donationlgrant Receivable All donation51grant$ receivable. including gran15 for Ihe Pufchase of fixed assets, ar8 credrted to the St8tefflenl of Financial Activities in the period to which they relate. DonabonslGrants iepresenb.ng arnoun15 deferred to fLrture accounting per￿$ as a result of conditions imposed by funder are shown a5 income. with a COr￿spOnding deduction for amouTht$ deferred. IA expendltsre and Liabilitie8 Gen&rally liabilities are recognised as soon a$ there is a ￿￿al or Gonstrucbve obligation committing the Charity to the expendilufe. Restsurces expended are allocated to the particular activity where the C05t relates directty lo that activity. The cost of overall direction and adminislraiion on each activity. comprisiftg the Salary and overhead costs of the central fun¢tioo. Is assigned based on an estimate of stsff b.me attrit>utsble lo the activity Concemed. Managemènt and adTninistr3tion costs cotnpnse expenditure on gener81 and financial adminislrntion a￿1 compli8nce with st81ulory and conslilulional requirements. Tangible Fixod A$8•ts At 31 March 2024 the Charity has no ma18rial Iwed assets which have not been ¢apit81i$ed and included on the Balance Sheet. Items of equyment are capitali5eol where lh8 pur¢has9 price e¥¢gods £500. 10 THE STRAIGHT PATH NOTES TO THE ACCOUNTS - Contlnued YEAR ENDED 31 MARCH 2024 2024 2024 Unrestr'd R&slrictod Funds Funds 2024 Total 2023 Total Incoming R•50urces Ggneral fund . A¢tlvltles to further thè Charlty's oblg¢ts Donations Inisc- received Totsl Réceived 40.286 40.286 65.731 40,28S 40,286 65,737 General Fund - Other Incoming Resources Grant re¢eived Bank interest received Total re¢eived Totsl Incoming Resourcol 40.286 40.286 65.731 THE STRAIGHT PATH NOTES TO THE ACCOUNTS - Continued YEAR ENDED 31 MARCH 2024 2024 2024 Unr88trfd R¢stri¢t•d Funds Funds 2024 Total 2023 Total Resources Expendgd Costs of Actlvitle$ for CharItAb￿ Oble¢tivg• Salaries and NIC Pension co81 Advertisement and PR Telephone Cost Materials for distribution Stationery, postage and printing Subscription Travelling expenses Repairs and maintenance 76,684 35 800 96 7,245 16,884 27,352 35 7,245 341 341 Total 25,201 25,201 27,352 Support Costs Subscription Insurance Rent Cleaning Equipments Repairs and Maintenance 227 227 401 1,191 1.191 1,418 1.418 401 Management and Administratlon of th• Charity Administration Salaries Publicity, Annual Report & AGM A¢countancy and Professional Fees Consultancy fees Postagè. printing and stslionery Fund raising cost Bank ch3r9es 800 800 800 14 800 800 814 12 THE STRAIGHT PATH NOTES TO THE ACCOUNTS - Continued YEAR ENDED 31 MARCH 2024 Stsff Colts 2024 2023 Staff costs We￿ as follows'.- Wage$ and Salarie5 Pensions Ernployers Nl wnlributions 16,684 35 27.352 16,719 27.352 The average weekly number of $taff employed by the Charity during the year was... Di￿1 Charitable Workers Administration No employee earned in exces$ of £ 50,000 in the year and no remuneration was paid to trustees in the y¢8r. Oebtovs: due wlthin one year 2024 2023 Prepayments Other debtors Accrued Income Credltors: amounts falling du¢ wilhln one year 2024 2023 Deferred Income (Grants):. Accruals PAYE Other creditors.. Others 400 400 1,316 1,620 700 1.100 1.100 3,336 3,336 Anal￿18 of Nat Assets beiw••n filnds General Restrict9d Total Funds Funds Funds Current Assets Cuttent Liabilities 63.634 1.100 62,S34 63,634 1,100 62,534 13 THE STRAIGHT PATH NOTES TO THE ACCOUNTS - Continued YEAR ENDED 31 MARCH 2024 8 Movements in Funds At 1 April 2023 Incorninq Outyoing Resources Resouf¢e$ Tran¥fèrn At 31 Mar 2023 At 31 Mar 1023 R•$¢ri¢tsd Funds.. Total Restrlcted Funds Unrestri¢tsd Funds:. Generydl Funds 49.667 40.286 27.419 62,534 49.667 Tot*1 Unrestricted Funds 49.667 40.286 27.419 62,534 49,667 Total Funds 49,667 40.286 27419 14