The Suffa Educational Foundation Report and Accounts st Period ended 31 March 2023 Charity number: 1186530
The Suffa Educational Foundation Period ended 31 March 2023 Contents Reference and Administrative details..................................................................................................... Trustees Report . Independent Examiner's Report.. Statement of Financial Activities Balance Sheet.... .10 Statement of Cash Flows . .11 Notes to the Accounts . .12 Pa8e 2 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Reference and Administrative details Charity name The Suffa Educational Foundation Reglstered charlty number 1186530 Principal office address 279B Kensal Rd London WIO 5DB Chairperson A Nazri Trustees A Nazri S Noor Z Yusoh Bankers HSBC Bank 240 Lavender Hill Clapham Junction SWII ILH Independent Examiner Haroon Patel, FCCA Strone Accountants Unit 10, 45 Gillender Street Poplar E146RN Pa8e 3 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Trustees, Report The trustees have pleasure in presenting their report and the financial statements for the charity for the period ended 31st March 2023. The trustees have adopted the provisions of 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 IFRS 1021 leffective I January 20151. The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity IPB21'. The Trustees present their report and the financial statements for the period ended 31st March 2023. The Trustees who served during the period and up to the date of this report are set out on page Structure. Governance and Management The Charity is constituted as a Charitable Incorporated Organisation ICIOI Foundation, as a body corporate under Part 11 of the Charities Act 2011 on 19 November 2019. The CIO registered with the Charity Commission on 22 November 2019. Objectives and Artivities The charity was formed to further advance the religion of Islam for the public benefit in London and the surrounding areas through the holding of prayer meetings, lectures, public celebration of religious festivals and distribution of literature on Islam to enlighten others about the religion. To also benefit the residents of London and the surrounding areas without distinction of sex, sexual orientation, race, political or religious opinions by associatinE together in common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the communities. Achievements and Performance The period ended 31st March 2023 saw The Suffa Educational Foundation widening its reach, seeing yet again an increase in participation for the weekly KAFA program, which focuses on teaching Quran and Islam to children and teenagers within the community. The Quran classes for adults continued to see very encouraginE levels of subscription. especially amongst the female demographic. Alongside this, the charity continued to see significant uptake of its recently launched GSCE and SAT online tuition programs. These programs underpin the charity's commitment to servinE the youth in the community in a holistic way, beyond the remit of foundational religious knowledge. Community services such as nikah Imatrimonial services), Shahadah Iconversionl as well as counselling continued to be important for our diverse community who engage us in various life stages. Pa8e 4 of 17
The Suffa Educational Foundation Period ended 31 March 2023 The Suffa Educational Foundation continued to run weekly in-person gatherings as well as annual reliEIOUS events which saw the community coming together to not only learn but also to benefit from much-needed communal interaction. In-person events continue to be an important format from which the charity can provide ongoing support, whether spiritual or social. Financial Review During the period in review, the charity managed to raise £184,692 from donations received and charitable activities throughout the year. Ramadan continued to be a crucial & important time for raising funds through our Ramadan fundraiser and zakat collections. One-off donations as well as monthly donors continue to be essential for the sustainability of the charity. The funds were used for.. the administration of the charity's various programs and classes, management of its social welfare and community services, as well as alms towards the poor and the needy from the community. On top of this, the funds were used to pay for the charity's overheads, which include rent, utilities, as well as administrative costs such as salaries and software. Income for the 12-month period to 31st March 2023 amounted to £184,692 and expenditure amounted to £232,585, which resulted in a deficit of £47,893. Despite the deficit, the trustees have reasonable expectation that the charity will continue to operate for the foreseeable future. Further information on this can be found in Note I to the financial statements. Reserves Policy Per the Charity Commission guidance, the Trustees regularly review the level of income reserves that it considers appropriate to carry on fulfilling the objectives of the charity. At 31st March 2023. the Trustees consider it appropriate to aim to hold reserves equivalent to one month's worth of expenditure. The reseeS as of 31 March 2023 was in a deficit of £6,807. Pa8e 5 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of Charity and of the incoming resources and application of resources of the Charity for that year. In preparing these financial statements the Trustees are required to.. select suitable accounting policies and then apply them consistentlv,. observe the methods and principles in the Charities SORP,. make judgments and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which 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 1993 and the Charity (Accounts and Reports) Regulations 2008. 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. This report was approved by the trustees and signed on its behalf by Date= 3110112024 Mr Amer Farhan bin Ahmad Nazrl Chairper50n, Board of Trustees Pa8e 6 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Independent Examiner's Report To the trustees of The Suffa Educational Foundation I report on the accounts of the above charitable incorporated organisation for the period ended 31 March 2023, which are set out on pages 9 to 17. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111"the Act"). The Charity's trustees consider that an audit is not required for this period under section 144 of the Act and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charities Act, to follow applicable Directions given by the Charity Commission lunder section 14515llbl of the Act, and To state whether particular matters have come to my attention. Basls of Independent examlnerfs statement My examination was carried out in accordance with 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 the 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 8iven as to whether the accounts present a 'true and fairf view and the report Is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accounting records I have not Come across any matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached, except for the emphasis on matter paragraph below. Emphasis on matter The charities reserves as of 31 March 2023 was in a deficit of £6,087. This is not in line with charities reserve policy. There is a material uncertainty regarding the charity to continue to adopt the going concern basis of accounting for a period of at least 12 months from the date the charity financial statements are authorised for issue. We draw attention to Note l in the financial statements which indicated that the charity's ability to continue as a going concern is dependent on the ability to raise further donations. Pa8e 7 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Date: Haroon Patel, ACCA Independent Examiner Strone Accountants Unit 10, 45 Gillender Street E14 6RN 311112024 Pa8e 8 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Statement of Financial Activities Period Ended 31 March 2023 Unrestricted funds Restricted funds 2023 Total funds 2022 Total funds Notes Incoming resources Donations and legacies Charitable activities 108,720 56,898 19,074 127,794 56,898 158,040 42,020 Total Incoming resources 165.618 19.074 184.692 200,060 Resources expended Charitable activities 1197,4981 135,0871 1232,5851 1182,5241 Total Resources expended {197,4981 135,087) 1232.5851 1182,5241 Net income/(expenditure) (31,8801 116,013) {47,8931 17,536 Net movement in funds (31,8801 116,013) {47,8931 17,536 Reconciliation offvnds." Total funds brought forward Transfer 14,493 982 27,313 19821 41,806 24,270 Total funds carried forward {16.4051 10.318 16.0871 41,806 Pa8e 9 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Balance Sheet As at 31 March 2023 Unrestrirted funds Restricted funds 2023 Totsl funds 2022 Total funds Notes Fixed assets Computer and equipment 850 850 964 850 850 964 Current assets Debtors Cash at bank and in hand 3,780 3,780 10,318 4,397 41,016 io 10,318 Total current assets Creditors: amounts falling due wlthln one year 3,780 10,318 14,098 45,413 li 121,0351 121,0351 14,5711 Net current assets/(liabilltles) 117,255) 10,318 16,937) 40,842 Total assets less current Ilabllltles 116,405) 10,318 16,0871 41,806 Creditors: amounts falling due after one year Total net asset5 or liabilities 116,405) 10,318 16,087) 41,806 Funds of the Charity Restricted income funds Unrestricted funds 12 10,318 10,318 116,4051 27,313 14,493 116,4051 Totalfunds 116,405) 10.318 16.087) 41,806 The financi21 <t2ttsmè!nts were approved and authorised for issue by the Board and signed on its behalf by: Date:...... 3110112024 Mr Amer Farhan bin Ahmad Nazri Chairperson, Board of Trustees Pa8e 10 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Statement of Cash Flows 2023 2022 Cash flows from operating activities: Net movement in funds 130,6981 16,706 Net cash flow of operating artivities 130.698) 16,706 Change in cash and cash equivalents in the year 130,698) 16,706 Cash and Cash equivalents brought forward 41,016 24,310 Total cash and cash equivalents at the end of the year 10,318 41,016 Pa8e 11 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Notes to the Accounts Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial Statements are as follows.. Basls of preparatlon IFRS1021 The financial statements have been prepared in accordance with Accounting and Reporting bv 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 IFRS 1021 leffective l January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Suffa Education 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 notelsl. The financial statements are presented in sterling which is the functional currency of the charity and are not rounded. Income Income is recoEnised when the charity has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Income, whether'capital, grants or'revenue, grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it Is probable that the income will be received, and the amount can be measured reliably and is not deferred. Income received in advance of a project or provision of other specified senjice is deferred until the criteria for income recognition are met. Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated professional setvices and donated facilities are recognised based on the value of the gift to the charity which is the amount the charity would have been willing to payto obtain services or facilities of equivalent economic benefit on the open market. Pa8e 12 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the Trustees have decided to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for areas of the charit5 work or for specific projects being undertaken by the charity. Expendlture Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Allocation of support Costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel and governance costs which support the charity's artistic programmes and activities. Support costs have been allocated in proportion to expenditure incurred in undertaking an activity. Cash at bank and in hand Cash at bank and cash in hand includes cash and amounts in deposit accounts. Debtors and Prepayments Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogni5ed at their settlement amount after allowing for any trade discounts due. Pa8e 13 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Going Concern The accounts have been prepared on a going concern k)asis. The trustees have reasonable expectation that the charity will continue to operate for the foreseeable future, however the trustees are aware of possible uncertainties which could impact their assessment of the charities Boing concern position. The trustee's assessment of going concern is dependent on the charities ability to raise further donations by executing successful raises and ensuring projects are continuously being marketed. The financial statements show a loss for the year and net liabilities of £6,087. This is the first year the charity has made a loss since inception. The trustees have since the year end managed to raise additional funding, hired an admin assistant to Erow the charity. The trustees are in the view the charity is more familiarly recognised amongst communities which has allowed them to raise further funding. It is important to note that the company is entering Ramadan month. Usually, donations are at its highest during this religiously observed month. The charity intends to promote/develop a strong marketing campaign in order to raise funds above previous levels. Analysls of Incomlng Resources Unrestrirted funds Restricted funds 2023 Total funds 2022 Total funds Donations and legacies Charitable activities 108,720 56,898 19,074 127,794 56,898 158,040 42,020 200,060 Total 165,618 19,074 184,692 Analysis of Resources expended Staff costs Other costs Support costs 2023 Total 2022 Total Charitable activities Activities undertaken directly.. 143,573 8,439 80,573 232,585 182,524 Total 143.573 8.439 80.573 232.585 182,524 Pa8e 14 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Analysis of staff costs, Charity remuneration and expenses, and key management personnel. 2023 2022 Salaries and Staff Wage5 Tax and Social Security Costs 131,343 107,208 12,230 6,971 Total 143.573 114,179 No employees had employee benefits more than £60,000 The charity trustees were not paid or received any other benefits from employment with the charity, neither were they reimbursed expenses during the period. No other charity received payment for professional or other services supplied to the charity. Staff Numbers The average monthly head count was 3 staff and the average monthly number of full-time equivalent employees lincluding casual and part-time staffj during the period were as follows.. 2023 2022 Charitable Activities Related Party Transactions Neither the Trustees nor any persons connected with them received any remuneration, benefits in kind from the Charity during the period. During the period under review, no trustees received reimbursement of travelling expenses. Corporation Taxation The charity is exempt from corporation tax on its income and gains to the extent that these are applied to its charitable objectives. Pa8e 15 of 17
The Suffa Educational Foundation Period ended 31 March 2023 Fixed assets 2023 2022 Computer and Equipment Cost Depreciation for the year Accumulated Depreciation B/Fwd 1,998 6671 14811 1,445 14811 850 964 Debtors 2023 2022 Rent Deposit Other Debtors 3,780 3,780 617 4,397 3,780 io. Cash at Bank and in Hand 2023 2022 Cash at Bank 9,671 647 40,333 683 Cash in Hand Totsl 10,318 41,016 ii. Credltors: amounts falllng due wlthln one year 2023 2022 Accruals Social Security Taxes Other Creditors 1,250 18,977 808 1,200 3,371 Totsl 21,035 4,571 Pa8e 16 of 17
The Suffa Educational Foundation Period ended 31 March 2023 12. Charlty Funds 2022 Balance BIF 2023 Balance C/F Income Expenditure Transfers Fund names Zakaat Restricted Qurbani Restricted General Fund Unrestricted 27.313 12,999 6,074 165,619 129,0121 16,0741 1197,4991 19821 10,318 14,493 982 116,4051 Total Funds 41.806 184.692 1232,5851 {6,087) Pa8e 17 of 17