THE RAFIDA FOUNDATION TRUSTEES’ REPORT AND ACCOUNTS For the year ended 31st March 2023
Registered Charity No. 1182789
The Minor Land of Fadak Windmill Road Fulmer Slough SL3 6HF
THE RAFIDA FOUNDATION
CONTENTS
| PAGE NO. | |
|---|---|
| Charity Information | 1 |
| Trustees Report | 2 - 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 - 8 |
THE RAFIDA FOUNDATION
CHARITY INFORMATION
TRUSTEES
Mr. Abdul-Malik Shlibak
CHARITY REG. NO. 1182789
REGISTERED OFFICE The Minor Land Of Fadak The East Lane Of Windmill Road Fulmer, Slough SL3 6HF
INDEPENDENT EXAMINER Quadri & Co. Accountants
Kingston Court 121 Lichfield Road Sutton Coldfield B74 2RT
BANKERS Lloyds Bank
1
THE RAFIDA FOUNDATION
TRUSTEES’ REPORT
For the Year Ended 31[st] March 2023
The trustees of The Rafida Foundation present their report and the financial statements for the year ended 31[st] March 2023.
Aims and objectives of The Rafida Foundation.
The charity's objectives are:
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The advancement of the Islamic faith, in particular the Shia rafida faith as the trustees, with the guidance of the head cleric, shall from time to time think fit, for the benefit of the public worldwide; and
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To advance the education of the public worldwide of the Islamic faith, in particular the Shia rafida faith and the promotion of interreligious harmony through dialogue and cooperation with other faiths and traditions.
Trustees
All of the trustees have been mentioned above in the ‘charity information’ and there are no other trustees. All of the trustees named in the charity information served throughout the period. The board has the power to appoint additional trustees if it considers fit to do so.
Financial review
The net funds for the year were in surplus by £5,758 [2022 – £1,746] taking the accumulated funds to (£9,824) [2022 – (£15,582)].
Statement of Trustee’s Responsibilities
Law applicable to charities in England & Wales requires the trustees to prepare financial statements for each year that give a true and fair view of the charity’s financial activities during the year and of its financial positon at the end of the year. The trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Make adjustments and estimates that are reasonable and prudent;
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State whether the applicable accounting standards and statements of the recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
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Prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safe guarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and error and other irregularities.
2
THE RAFIDA FOUNDATION
TRUSTEES’ REPORT (continued)
For the Year Ended 31[st] March 2023
Approved
This report was approved by the board of trustees on ___ January 2024 and signed on its 29 behalf:
Mr. Abdul-Malik Shlibak
(Trustee / Chairman)
3
THE RAFIDA FOUNDATION
INDEPENDENT EXAMINER’S REPORT
For the Year Ended 31[st] March 2023
We report to the charity trustees on our examination of the accounts of the Charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
It is our responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to our attention
Independent examiner’s statement
We have completed our examination and confirm that no material matters have come to our attention in connection with the examination which gives us a cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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- the accounts do not accord with the accounting records
We are not aware of any other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Quadri & Co Accountants 26 January 2024 Certified Accountants
Kingston Court 121 Lichfield Road Sutton Coldfield B74 2RT
4
THE RAFIDA FOUNDATION
STATEMENT OF FINANCIAL ACTIVTIES
For the Year Ended 31[st] March 2023
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | TOTAL | TOTAL | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| FUNDS | FUNDS | 2023 | 2022 | ||||||||
| £ | £ | £ | £ | ||||||||
| Notes | |||||||||||
| INCOMING RESOURCES | |||||||||||
| Incoming resources from: | |||||||||||
| Voluntary Income | 2 | 54,963 | 54,963 | 105,126 | |||||||
| TOTAL INCOMING RESOURCES | 54,963 | - | 54,963 | 105,126 | |||||||
| RESOURCES EXPENDED | |||||||||||
| Administrative Expenses | |||||||||||
| Purchases & other direct costs | 40,565 | 40,565 | 83,102 | ||||||||
| Utilities | 1,009 | 1,009 | 6,044 | ||||||||
| Wages & Salaries | - | - | 2,700 | ||||||||
| Telephone | 220 | 220 | 701 | ||||||||
| Printing, postage and stationery | 70 | 70 | 865 | ||||||||
| Computer running | 2,908 | 2,908 | 1,649 | ||||||||
| Accountancy & Book keeping | 1,200 | 1,200 | 1,322 | ||||||||
| Motor Running & travelling | 1,835 | 1,835 | 764 | ||||||||
| Bank charges & interest | 758 | 758 | 1,140 | ||||||||
| Advertising | - | - | 4,353 | ||||||||
| Sundry expenses | 183 | 183 | 203 | ||||||||
| Depreciation | 456 | 456 | 537 | ||||||||
| TOTAL RESOURCES EXPENDED | 49,205 | - | 49,205 | 103,380 | |||||||
| NET SURPLUS / (DEFICIT) | 5,758 | - | 5,758 | 1,746 | |||||||
| Unrestricted Income funds b/f | - 15,582 | - | - | 15,582 | - | 17,328 | |||||
| Unrestricted Income funds c/f | - 9,824 | - | - 9,824 | - | 15,582 |
The annexed notes from 1 to 4 form an integral part of these financial statements
5
THE RAFIDA FOUNDATION
BALANCE SHEET
For the Year Ended 31[st] March 2023
| AS AT 31 MARCH 2023 Notes FIXED ASSETS 3 Tangible Assets Plant & Machinery CURRENT ASSETS Cash at bank and in hand CURRENT LIABILITIES: Amounts falling due within one year NET CURRENT ASSETS / (LIABILITIES) CREDITORS FALLING DUE AFTER MORE THAN 1 YR Loan NET ASSETS CAPITAL AND RESERVES Unrestricted Income Fund B/F Surplus / (Deficit) for this period |
£ 2,581 1,891 - 5,659 |
|
|---|---|---|
| £ | ||
| 2,581 - 3,768 - 8,637 |
||
| - 9,824 | ||
| - 15,582 5,758 |
||
| - 9,824 |
Approved by the board of trustees and signed on their behalf by:
Mr. Abdul-Malik Shlibak ( Trustee ) Date: ____ January 2024 29
6
THE RAFIDA FOUNDATION
NOTES TO THE ACCOUNTS
For the Year Ended 31[st] March 2023
1. ACCOUNTING POLICIES
BASIS OF PREPARATION
The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 01 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepare in pound sterling which is the functional currency of the charity.
2. INCOME
The voluntary income is comprised of the charitable donations collected by the charity during the year ended 31 March 2023.
Voluntary Income
£ Membership fees and donations. 54,963 ======
3. FIXED ASSETS
Tangible Fixed Assets
Depreciation is calculated so as to write off the cost of an asset, less estimated residual value, over the useful economic life of that asset as follows:
Computers & Equipment – 15% at reducing balance
7
THE RAFIDA FOUNDATION
NOTES TO THE ACCOUNTS
For the Year Ended 31[st] March 2023
Tangible Fixed Assets (continued)
| Cost of Fixed Assets As at 01 April 2022 Additions Revaluation As at 31 March 2023 Depreciation As at 01 April 2022 Charge for the year As at 31 March 2023 Net Book Value As at 31 March 2023 |
Computers & Equipment |
|---|---|
| £ 4,678 - - |
|
| 4,678 | |
| 1,641 456 |
|
| 2,097 | |
| 2,581 |
| 4. | CURRENT LIABILITIES: Amounts falling due within one year | ||
|---|---|---|---|
| £ | |||
| Accruals |
1,200 | ||
| Taxation and social security |
- | ||
| Bank | Loan due in < 1yr |
4,459 | |
| Total | Current Liabilities |
5,659 |
8