Charity registration number: 1184908
At-Tawheed Foundation
Annual Report and Financial Statements for the Year Ended 31 March 2024
At-Tawheed Foundation
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 13 |
At-Tawheed Foundation
Reference and Administrative Details
Trustees
Principal Office Bankers
Charity Registration Number
Independent Examiner
Mohammed Nazakit Dr Mohammed Fazlulla Haris Farhan Abbas Malik Chaudhry Kaleemullah Mohammed Whaed Hussain Kafeel Ahmed (appointed on 25/07/2024)
Markaz At-Tawheed Rectory Road Shelton Stoke-on-Trent ST1 4PW
1184908 NatWest 1 Upper Market Square Hanley Stoke-on-Trent ST1 1NS
Gordon Levy BA, FCA Chartered Accountant Gordon Levy Limited Suite 5, 4th Floor 3 Universal Square Devonshire Street North Manchester M12 6JH
Page 1
At-Tawheed Foundation
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.
Objectives and activities
Objects and aims
The CIO constitution defines the charity's objects are to advance the Islamic religion in accordance with the Ahl-ul-Hadith creed and methodology for the benefit of public in particular but without limitation, through the holding of prayer meetings, lectures, producing and/or distributing literature on Islamic faith to enlighten others about Islamic religion.
The objectives for the year were to continue to raise funds to maintain and improve existing facilities. Funds are raised by voluntary collections in the mosques. There are no specific fundraising targets set, the charity relies on the willingness of individuals to contribute what they can afford to donate.
Summary of the main activities
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a) Provide services of mosques to promote Islamic faith to all age groups.
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b) Provide supplementary school (Madrasah) classes to teach the children the Quran and Islamic Studies.
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c) Arrange regular talks and lectures.
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d) Facilitate youth empowerment workshops.
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e) Arrange special talks for women.
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f) Each centre is financially independent; there is no transfer of funds between the centres.
The charity runs the following three mosques within Stoke on Trent:
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Markaz At-Tawheed, Rectory Road, Shelton
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Markaz As-Sunnah, Ladywell Road, Tunstall
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Markaz Al-Huda, Furnace Road, Normacot
Public benefit
The trustees have considered this, in conjunction with the guidance contained in the Charity Commission’s general guidance on public benefit, and have concluded that:
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the aims of the charity continue to be charitable;
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the work done by the charity gives identifiable benefits to the charitable sector and both directly and indirectly to individuals in need;
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the benefits are for the public; not unreasonably restricted in anyway;
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there is no detriment or harm arising from the aims or activities.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
During this year the charity continued to improve its activities, finance as well as facilities as listed below:
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a) The number of people attending all three mosques has increased.
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b) Markaz Al-Huda building renovation project phase 2 fundraising is ongoing.
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c) Markaz At-Tawheed, building major repair and maintenance works planned for upstairs.
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d) Markaz As-Sunnah, first floor renovation has been completed.
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e) Madrasah classes enrolment increased significantly to over 200 children.
Financial review
During the year, the charity raised £299k (2023: £280k) and after spending £193k (2023: £140k), the charity’s carry forward reserves were £1,093k (2023: £987k). The details are shown in the annexed financial statements
Page 2
At-Tawheed Foundation
Trustees' Report
Policy on reserves
The charity reserves funds to cover 12 months expenditure which will ensure that the charity can continue its activities for that length of time even if there is a sudden and significant drop in funding.
Plans for future periods
The charity envisages conducting the following tasks as part of its plans for the future.
Promotion of faith: Propagation of Muslim faith to the younger generation by introducing a range of activities that attract and inspire them more than the traditional services offered.
Structure, governance and management
Nature of governing document
The charity is a charitable incorporated Organisation (CIO), governed by CIO constitution and registered with the Charity Commission on 15 August 2019.
Organisational structure
Trustees are responsible for setting strategies, and policies for ensuring these are implemented.
Appointment of trustees
Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
Reference and administrative details
Reference and administrative details are provided on page 1.
Major risks and management of those risks
The charity's trustees have considered the major risks to which the charity is exposed and have reviewed potential risks. No major risks have been identified.
The annual report was approved by the trustees of the charity on 31/12/2024 and signed on its behalf by:
......................................... Mohammed Nazakit Chair
Page 3
At-Tawheed Foundation
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial 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 these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
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At-Tawheed Foundation
Independent Examiner's Report to the trustees of At-Tawheed Foundation
I report to the trustees on my examination of the accounts of At-Tawheed Foundation (‘the charity’) for the year ended 31 March 2024, which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me 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 those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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...................................... Gordon Levy BA, FCA Chartered Accountant Gordon Levy Limited Suite 5, 4th Floor
3 Universal Square Devonshire Street North Manchester M12 6JH
31/12/2024 Date: .............................
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At-Tawheed Foundation
Statement of Financial Activities for the Year Ended 31 March 2024
| Note Income and Endowments from: Donations and legacies 2 Other income 3 Total income Expenditure on: Charitable activities 4, 6 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Restricted Unrestricted Total Funds £ Funds £ 2024 £ 15,161 215,812 230,973 - 68,279 68,279 |
|---|---|
| 15,161 284,091 299,252 |
|
| (243) (192,628) (192,871) |
|
| (243) (192,628) (192,871) |
|
| 14,918 91,463 106,381 |
|
| 14,918 91,463 106,381 - 986,510 986,510 |
|
| 14,918 1,077,973 1,092,891 |
| Note Income and Endowments from: Donations and legacies Other income Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted Funds £ 228,306 51,758 280,064 (140,202) (140,202) 139,862 139,862 846,648 986,510 |
Total 2023 £ 228,306 51,758 |
|---|---|---|
| 280,064 | ||
| (140,202) | ||
| (140,202) | ||
| 139,862 | ||
| 139,862 846,648 |
||
| 986,510 |
All of the charity's activities derive from continuing operations during the above two periods.
Page 6
At-Tawheed Foundation
(Registration number: 1184908) Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand 13 Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Restricted funds Unrestricted funds Total funds 15 |
2024 £ 896,652 18,279 180,816 199,095 (2,856) 196,239 1,092,891 14,918 1,077,973 1,092,891 |
2023 £ 817,431 54,362 116,201 |
|---|---|---|
| 170,563 (1,484) |
||
| 169,079 | ||
| 846,648 | ||
| - 986,510 |
||
| 986,510 |
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 31/12/2024 and signed on their behalf by:
......................................... Mohammed Nazakit Chair
Page 7
At-Tawheed Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (the Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
At-Tawheed Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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At-Tawheed Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
Tangible fixed assets
Individual fixed assets costing more than £300.00 are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold Land - No depreciation Buildings - 50 years (straight line) Office Equipment - 3 years (straight line)
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of the charity’s activities. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Fund structure
Unrestricted income funds include designated property and renovation funds, and general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds include charitable relief fund. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised for particular purposes.
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At-Tawheed Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
| 2 Income from donations and legacies Donations and legacies; Donations Grants Gift aid reclaimed |
Restricted funds £ 15,161 - - 15,161 |
Unrestricted funds £ 193,542 5,000 17,270 215,812 |
Total Total 2024 2023 £ £ 208,703 209,516 5,000 - 17,270 18,790 230,973 228,306 |
|---|---|---|---|
3 Other income
| Fees and supplies | Unrestricted funds Total £ 2024 £ 68,279 68,279 68,279 68,279 |
Total 2023 £ 51,758 |
|---|---|---|
| 51,758 |
4 Expenditure on charitable activities
| Staff costs Facilities Utilities Insurance Travel Office expenses Consultancy Governance |
Activity undertaken directly Activity support costs £ £ 90,462 29,758 17,150 2,210 1,090 24,121 27,380 700 192,171 700 |
Total 2024 Total 2023 £ £ 90,462 75,992 29,758 24,750 17,150 12,704 2,210 1,830 1,090 1,333 24,121 2,380 27,380 20,613 700 600 192,871 140,202 |
|---|---|---|
5 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Other governance costs |
Unrestricted funds £ 600 100 700 |
Total 2024 Total 2023 £ £ 600 600 100 - 700 600 |
|---|---|---|
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At-Tawheed Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Net incoming/outgoing resources
Net outgoing resources for the year include:
| Net outgoing resources for the year include: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Depreciation of fixed assets | 14,322 | 12,451 |
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs |
2024 £ 90,462 - 90,462 |
2023 £ 75,992 - |
| 75,992 |
Average number of employees during the year: 10
No employee received emoluments of more than £60,000 during the year
9 Independent examiner's remuneration
| 9 Independent examiner's remuneration | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Examination of the financial statements | 600 | 600 |
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At-Tawheed Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Taxation
The charity is a registered charity and is therefore exempt from taxation
11 Tangible fixed assets
| 11 Tangible fixed assets | |||||
|---|---|---|---|---|---|
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 12 Debtors Gift Aid Other debtors Prepayments 13 Cash and cash equivalents Cash on hand Cash at bank 14 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Accruals |
Land and buildings £ 846,518 93,543 940,061 29,329 14,201 43,530 896,531 817,189 |
Furniture and equipment £ 363 - 363 121 121 242 121 242 2024 £ 16,668 - 1,611 18,279 2024 £ 24,244 156,572 180,816 2024 £ 2,256 - 600 2,856 |
Total £ 846,881 93,543 940,424 29,450 14,322 43,772 896,652 817,431 2023 £ 10,247 33,350 10,765 |
||
| 2024 £ 16,668 - 1,611 18,279 2024 £ 24,244 156,572 180,816 2024 £ 2,256 - 600 2,856 |
|||||
| 54,362 | |||||
| 2023 £ 13,774 102,427 |
|||||
| 116,201 | |||||
| 2023 £ 293 591 600 |
|||||
| 1,484 |
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At-Tawheed Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
| 15 Funds Unrestricted funds General funds Renovation funds Property fund Restricted funds Relief fund Total funds Unrestricted funds General funds Renovation funds Property fund Total funds |
Balance at 1 April 2023 £ 131,052 38,269 817,189 986,510 - 986,510 Balance at 1 April 2022 £ 89,981 32,047 724,620 846,648 |
Incoming resources £ 175,387 108,704 - 284,091 15,161 299,252 Incoming Resources £ 165,132 114,932 - 280,064 |
Resources expended £ (177,666) (761) (14,201) (192,628) (243) (192,871) Resources expended £ (124,061) (3,811) (12,330) (140,202) |
Transfers £ (2,000) (91,543) 93,543 - - - Transfers £ - (104,899) 104,899 - |
Balance at 31 March 2024 £ 126,773 54,669 896,531 |
|---|---|---|---|---|---|
| 1,077,973 | |||||
| 14,918 | |||||
| 1,092,891 | |||||
| Balance at 31 March 2023 £ 131,052 38,269 817,189 |
|||||
| 986,510 |
16 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Restricted funds £ - 14,918 - 14,918 |
Unrestricted funds £ 896,652 184,177 (2,856) 1,077,973 Unrestricted Funds £ 817,431 170,563 (1,484) 986,510 |
Total funds 2024 £ 896,652 199,095 (2,856) |
|---|---|---|---|
| 1,092,891 | |||
| Total funds 2023 £ 817,431 170,563 (1,484) |
|||
| 986,510 |
17 Related party transactions
There are no related party transactions to disclose.
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