CHARITY REGISTRATION NUMBER: 1181578 AR-RAYYAN FOUNDATION Unaudited Financial Statements 31 December 2023 ED HA Chartered accountants 216 High Road Chadwell Heath Romford Essex UK RM6 6LS
AR-RAYYAN FOUNDATION Financlal Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Stalemenl of financial activities Statement of financial position Statement of cash flows Notes to the financial statements
AR-RAYYAN FOUNDATION Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements ol the charity for the year ended 31 December 2023. Reference and adminlstratlve dgtalls Reglstered charity name Charity registration number Princlpal office AR-FIAYYAN FOUNDATION 1181578 153 CHIINGFORD LANE LONDON IG3 9QR ESSEX The trustees Ms FATIMA OMAR HABIB Mr GHARIB KHAMIS MAALIM Mr MASOUD MOHAMMED ALLY Mr SAID MKUBWA NASSOR Ms SABRINA NASSIR MOHAMlnED MS KHADIJA OMAR HABIB Mr SULEIMAN MSELEM MBARAK Independent examiner Fred Michael & Co 216 High Road, chadwell Heath Essex RM6 6LS Structure¥ governance and management Trustees meet regularly to oversee operaliDnS and ensure compliance wth legal and financial responsibilities. All trustees volunteer their time and do not receive remuneration for their services. The charity has 2 members of paid staff and a number DI dedicated volunteers who Support ils activities. All stam are DBS-checked and trained in the safeguarding of children lo ensure a safe environment for all students.
AR-RAYYAN FOUNDATION Trustees, Annual Report (conmnuedj Year ended 31 December 2023 Oblectives and activitles The AR-RAYYAN FOUNDATION aims to.. Relieve financial hardship, particularly for th& poor. widows, and orphans. Advance 8du¢alion. particularly Islamic and Quranic studies. Provide youth and community support services. In 2023, we focused on.. Islamic education.. Offering Quranic and other essential Islamic studies. Community services.. Supporting vulnerable groups through grants and educational programs. Online learning.. Providing global access lo Islamic studies through our virtual classroom platform. Achlevoments and performance Throughout 2023, AR-RAYYAN FOUNDATION seNed ils community by expanding its educational reach, both locally and internationally. We successfully delivered: ' Weekend Supplementary classes al First Floor, 691 Green Lane, Dagenham. RM8 1 UU Online Quranic lessons that reached students globally. Financial aid lo disadvantaged families, in line with our charitable objectives. Our foous remained on building a sale, welcoming environment where students can grow both spiritually and academicalty.
AR-RAYYAN FOUNDATION Trustees. Annual Report (¢onllntsed) Year ended 31 December 2023 Financial review For the year ending 21 December 2D23'. Total Income.. Total Expenditure.. £46,472 £46,173 This resulted in a small surplus of £299.00, due lo increased community support and operational costs. Main Sourees ol Income-. Fundraising inttialives run by the eharity Voluntary contributions from parents of children attending our educational establishment DYLOGICS LIMITED AUTO TRADE VALLEY VAFIDALIA S A These donations have been vital in maintaining and expanding our charitable activities. Reserves Policy-. We maintain a small reserve lo ensure the sustainability of our operations and lo meet unexpected costs. Plans tor future perlods AR-RAYYAN FOUNDATION aspires lo continue growing. both in the number of students il serves and the scope of its charitable activities. We plan lo-. Expand educational inilialives, both in-person and online. Increase fundraising effDrts lo ensure long-lerm sustainabilty. Continue supporting vulnerable individuals through financial aid and community se*vices. Our commitment remains lo foster spiritual and educational growth, rooted in the values of Islam. lor the benefit of the wider community.
AR-RAYYAN FOUNDATION Truslees, Annual Report f¢oniinu•dl Year ended 31 December 2023 Thé trustees. annual report was approved on .. Iruslees by.. antj 5igne4 on b8hJf tsl Iho b¢ard of Ms FATIMA OMAR HABI8 Twstee Mr MASOUD MOHAMMED ALLY Trustee Mr SULEIMAN hrtSELEM MBARAK Trusloe
AR-RAYYAN FOUNDATION Independent Examiner's Report to the Trustees of AR-RAYYAN FOUNDATION Year ended 31 December 2023 I report to the trustees on my examination of the financial slalemenls of AFI.RAYYAN FOUNDATION Ilhe Charity'l for the year ended 31 December 2023. Responsibllltigs and basls o* report Having satisfied myself that the accounts ol the company are not required lo be audited under Part 16 of the 2006 Act and are eligible lor independent examination, I report in respect ol my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 Iyhe 2011 Acl'l. In carrwng out my examination I have followed the DirÈ¢iions given by the Charity Commission under section 145151 Ibl ol tha 2011 Act. Indepondenl examinerfs Statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me Cause lo believe that in any material respect.. accounting records wore not kept in respect ol the charity as required by section 130 tsf the Act., or the financial slalèments do not accord with those Tecords; or the financial statements do not comply with the applicable requirements conceming the form and conl&nt ol accounts sel out in the Gharilies (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Fred Micha&l & Co 216 High Road. chadwell Heath Essex RM6 6LS Independent Examiner If not populated, the accountant's address will be used.
AR-RAYYAN FOUNDATION Slalement of Financial Actlvilies Year ended 31 December 2023 2023 Unreslricled funds Total fund$ Total funds 2022 Note Income and endowment$ Donations and legacies Total income 46,472 46,472 46,472 36,712 36,712 46,472 Expenditure Expenditure on charitable aclilities Total expenditure 46,173 46,173 46,173 28.562 46,173 28.562 Net income and net movement In funds 299 299 8,150 Reconelliation of funds Total funds brought forward Total lunds carried forward 9,074 9,373 9,074 924 9,373 9.074 The slalement ol financial activities includes all gains and losses recognised In the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 12 form part ol these linancial statements.
AR-RAYYAN FOUNDATION Statement of Financial Position 31 December 2023 2023 2022 Nole Current assets Cash al bank and in hand Net current assets Total assets less current liabililies 9,373 9.373 9,074 9,074 9,373 9,074 Funds of the charity Unreslrict&d funds 9,373 9,074 Total charlty funds 9,373 9,074 These financial statements were approved by the board of Iruslees and aulhorised for issue on 31 December 2021, and are signed on behalf of the board by.. Mr GHAR18 KHAMIS MAALIM Trustee Tht notes on pages 9 to 12 form part of these financlal statements.
AR-RAYYAN FOUNDATION Statement of Cash Flows Year ended 31 December 2023 2023 2022 Cash flows from operating actlvlties Nel income Cash generated from operations Net cash from operating activities 299 8,150 8.150 299 299 8,150 Net increase In cash and cash equivalents Cash and cash equivalents at beginnlng of year Cash and cash equivalents at end of year 299 9,074 8,150 924 9,373 9,074 Th• notes on pages 9 to 12 fomi part ol these linancral statèments.
AR-RAYYAN FOUNDATION Notes lo the Flnanclal Slatements Year ended 31 December 2023 General inlormatlon The charity is a public benef51 enlily and a registered charity in England and Wales and is unincorporat8d. The address of the principal office is 153 ChingfDrd lane, London, IG3 9QR, Essex. Statement of compliance These financial slalemenls have been prepared in cornpliance with FRS 102, The Financial Reporting Standard applicable in the UK and the R&public ol Ireland,, the Statemènt ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 {Charities SORP IFRS 10211 and the Charrfties Act 2011. Aecounting policies Basis of preparation The financial slalements have been prepared on the historical cost basls, as modified by the revaluation ol certain financial assets and liabilities and investment properties measured al lair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency ol the entity. Golng concern There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estimatlon uncertainty All estifflales are made lo the best available information. The Iruslees always sets targets and estimates bas&d on the policies at the lime. Fund accounllng Unreslricled funds ar& available lor use al the diserelion of the trustees lo further any of the charity's purposes. Designated tunds are unrestricted funds earmarked by the trustees lor particular lulure project or commitment. Reslricled funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms ol an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds.
AR-RAYYAN FOUNDATION Notes to the Financial Statements {corttinuedl Year ended 31 December 2023 Accounting policles (conllntsed) Incomlng resources All incoming resources are included in the statement ol financial activities when enlillement has passed to the charity,. it is probable that the ecorTromic benefits associated with the transaction will tlow lo the charity and the amount can be reliably measured. The following specific policies are applied lo parti¢LJlar categories of income.. income from donations or grants is recognised when there is evidence ol entillemenl lo the gift. receipt is probable and ils arnounl can be measured reliably. legacy income is recognised when receipt is probable and enlillemenl is established. income from donated goods is measured at the lair value of the goods unless this is impractical lo measLJre reliably. in which case the value is derived from the cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received il the value can be reliably measured. No amounts are included lor the contribution ot general volunteers. income from CDnlracts for the supply ol setvices is recognised ¥Mlh th& delivery of the conlractecj service. This is classified as unreslricled funds unless there is a contractual requirement lor il to be spent on a particular purpose and returned il unspent, in which case il may be Tegarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be lully rècovered. ancj is classified under headings ol the slalemenl ol financial activities lo which il relates.. expenditure on raising funds Includes the costs ol all fundraising activilles. 8vents, non- charitable trading aclivilies, and the sale ol donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims lor the ben&til ol ils beneficiaries, inclucling those support costs and costs relating lo the governance ol the charity apportioned ID charitable aclivilies. other expenditure includes all expenditure that is neither relalsd to raising funds for the charity nor part ol ils expenditure on charitable aclivilies. All costs are allocated to expenditure categories reflecting the use ol the resourcè. Direct costs attributable lo a single activity are allocated directly to that aclivily. Shared costs are apportioned between the activities they contribute to on a reasonable. jusliliablg and consistent basis. Flnanclal instruments A financial asset or a Ilnan¢ial liability is recognised only when the charity becomes a party lo the contractual provisions ol the inslrLJmenl. Basic financial instruments are initially recognised al the amount receivable or payable including any related transaction costs. 10
AR-RAYYAN FOUNDATION Notes to the Financlal Statements fconlNnu8d) Year ended 31 December 2023 Accounting policles (contlnu8d) Financlal instruments (contlnuod) Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo bs paid or received and not discounted. Debi instrurnenls are subsequently Measur al amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measur&d reliably, the inveslment is subsequently measured al lair value with changes in lair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial instruments. including derivatives, are initially recognised al lair value, unless payment for an asset is deferred beyond normal business terms or financed al a rale ol interest that is not a market rate, in which case the asset is measured al the presgnt vaiue of the future payments discounted al a market rale ol interest lor a similar debt inslrumenl. Other financial instruments are subsequently measured al lair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cost are reviewed lor tsbjective evidence of impairtnenl at the end ol each reporting date. 11 there is objective evidence ol impairment, an impairment loss Is recognised under the appropriate heading in the statement ol financial activities in which the initial gain was recognised. For all equity Instruments regardless ol significance, and other financial assets that are individually signilicanl, these are assessed individually lor irnpairmenl. Oiher financial assets are either assessed individually or grouped on the basis ol similar credit risk characteristics. Any reversals of impairment are recognised imrnedialely, lo the &xtenl that the reversal does not result in a carrwng amount ol the financial asset that exceeds what the Carrng amount would have been had the impairment not previously been recognised. Donations and legacles Unrestricted Total Funds Unreslrlcted Total Funds Funds 2023 Funds 2022 Donatlons Donations Donations type 2 37,133 9,339 46,472 37,133 9.339 36,712 36.712 46,472 36,712 36.712 Expèndlture on charitable actlvltlgs by fund lype Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Activity type 1 46,173 46,173 28.562 28,562
AR-RAYYAN FOUNDATION Notes to the Financial Statemenls (continv8dJ Year ended 31 December 2023 Expenditure on charitable actlvities by actlvily type Activities undertaken Total funds directly 2023 Total fund 2022 Activity type 1 46,173 46,173 28,562 Statt costs The total staff costs and employee benefits lor the reporting period are analysed as follows-. 2023 2022 Wages and salaries 17,064 8,893 The average head count ol employees during the year was Nil12022= Nill. No employee received employee benefits ol more than £60,000 during the year12022'. Nill. Trustee remuneration and expenses no remuneration or other benefits from employment with the charity or a related enlily were received by the Iruslees., or Analysis of charltable funds Unrestrlcled funds Al 1 January 202 At 31 December 2023 Incorne Expenditure General funds 9,Q74 46,472 146,1731 9,378 Al 1 January 202 Al 31 December 2022 Income Expgnditure General funds 924 36,712 128,5621 9,074 10. An8lysls of changes in net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 Cash at bank and in hand 9,074 299 9,373 12