The Suffa Educational Foundation Report and Accounts st Period ended 31 March 2024 Charity number: 1186530
The Suffa Educational Foundation Period ended 31 March 2024 Contents Reference and Administrative details..................................................................................................... Trustees Report . Independent Examiner's Report.. Statement of Financial Activities Balance Sheet Statement of Cash Flows . .10 Notes to the Accounts . .11 Pa8e 2 of 15
The Suffa Educational Foundation Period ended 31 March 2024 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 M Kamaludin l Appointed 3 July 20241 M Yusuf l Appointed 3 July 20241 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 15
The Suffa Educational Foundation Period ended 31 March 2024 Trustees, Report The trustees have pleasure in presenting their report and the financial statements for the charity for the period ended 31st March 2024. 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 2024. 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 2024 saw The Suffa Educational Foundation increasing its online presence especially in Islamic and academic domains due to the growing community and students from outside London and the UK. In response to this remarkable growth, the Suffa Educational Foundation hired more staff as well as online teachers to meet the increasing demand for its KAFA program as well as other academic supplementary programs. The KAFA program now has almost 200 students which reflect increased support and subscription from parents who entrust the charity with the religious education of their children. During this period, the charity moved to a new office which allowed for better use by the community. This completely self-contained space hosted not only Islamic classes, but also solemnisation ceremonies as well as counselling sessions among other key programs. An indispensable part of the charity's work continue to be face-to-face interactions and programs, which build rapport and trust between the charity and its beneficiaries, and this new space has facilitated this even more. Pa8e 4 of 15
The Suffa Educational Foundation Period ended 31 March 2024 Financial Review During the period in review, the charity managed to raise £300,219 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. In this period, significant donations were received from corporations with whom the charity continue to establish excellent rapport with. 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 2024 amounted to £300,219 and expenditure amounted to £268,792, which resulted in a surplus of £31,427. Based on the performance in review, the trustees are optimistic that the charity will continue to operate for the foreseeable future. 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 2024, the Trustees consider it appropriate to aim to hold reserves equivalent to one month's worth of expenditure. The resetves as of 31 March 2024 was £5,372. Pa8e 5 of 15
The Suffa Educational Foundation Period ended 31 March 2024 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= 2910112025 Mr Amer Farhan bin Ahmad Nazrl Chairper50n, Board of Trustees Pa8e 6 of 15
The Suffa Educational Foundation Period ended 31 March 2024 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 2024, which are set out on pages 8 to 15. 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 fai 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 respert.. 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. Date: Haroon Patel. ACCA Independent Examiner Strone Accountants Unit 10. 45 Gillender Street E14 6RN 291011202 Pa8e 7 of 15
Type text here The Suffa Educational Foundation Period ended 31 March 2024 Statement of Financial Activities Period Ended 31 March 2024 Unrestricted funds Restricted funds 2024 Total funds 2023 Total funds Notes Incoming resources Donations and legacies Charitable activities 214,238 69,553 16,428 230,666 69,553 127,794 56,898 Total Incoming resources 283.791 16.428 300.219 184,692 Resources expended Charitable activities 1261,0321 17,7601 1268,7921 1232,5851 Total Resources expended {261,0321 {7,760) 1268,7921 1232,5851 Net income/(expenditure) 22,759 8,668 31,427 147,8931 Net movement in funds 22,759 8,668 31,427 147,8931 Reconciliation offvnds." Total funds brought forward Transfer 116,4051 19821 10,318 982 16,0871 41,806 Total funds carried forward 5.372 19.968 25.340 16,0871 Pa8e 8 of 15
The Suffa Educational Foundation Period ended 31 March 2024 Balance Sheet As at 31 March 2024 Unrestrirted funds Restricted funds 2024 Totsl funds 2023 Total funds Notes Fixed assets Computer and equipment 656 656 850 656 656 850 Current assets Debtors Cash at bank and in hand 10,163 19,748 10,163 39,716 3,780 10,318 io 19,968 Total current assets Creditors: amounts falling due wlthln one year 29,911 19,968 49,879 14,098 li 125,1951 125,1951 121,0351 Net current assets/(liabilltles) 4,716 19,968 24,684 16,9371 Total assets less current Ilabllltles 5,372 19,968 25,340 16,0871 Creditors: amounts falling due after one year Total net asset5 or liabilities 5,372 19,968 25,340 16,0871 Funds of the Charity Restricted income funds Unrestricted funds 12 19,968 19,968 5,372 10,318 116,4051 5,372 Totalfunds 5,372 19.968 25.340 16,0871 The financial statements w by: re approved and authorised for issue by the Board and signed on its behalf Date:......2910112025 Mr Amer Farhan bin Ahmad Nazri Chairperson, Board of Trustees Pa8e 9 of 15
The Suffa Educational Foundation Period ended 31 March 2024 Statement of Cash Flows 2024 2023 Cash flows from operating activities: Net movement in funds 29,398 130,6981 Net cash flow of operating artivities 29,398 130,6981 Change in cash and cash equivalents in the year 29,398 130,6981 Cash and Cash equivalents brought forward 10,318 41,016 Total cash and cash equivalents at the end of the year 39,716 10,318 Pa8e 10 of 15
The Suffa Educational Foundation Period ended 31 March 2024 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 11 of 15
The Suffa Educational Foundation Period ended 31 March 2024 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 12 of 15
The Suffa Educational Foundation Period ended 31 March 2024 Analysis of Incoming Resources Unrestrlrted fund5 Restrlcted funds 2024 Total funds 2023 Total funds Donations and legacies Charitable activitie5 214,238 69,553 16,428 230,666 69,553 127,794 56,898 184,692 Totsl 283,791 16,428 3CiI,219 Analysis of Resources expended staff other Support costs 2024 Total 2023 Total costs costs Charitable activities Activities undertaken directly.. 145,728 25,881 97,183 268,792 232,585 Total 145.728 25.881 97.183 268,792 232,585 Analysis of staff costs, Charity remuneration and expenses, and key management personnel. 2024 2023 Salaries and Staff Wages Tax and Social Security Costs 139,991 131,343 5,737 12,230 Totsl 145,728 143,573 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. Pa8e 13 of 15
The Suffa Educational Foundation Period ended 31 March 2024 Staff Numbers The average monthly head count was 3 staff and the average monthly number of full-time equivalent employees (including casual and part-time staff) durinE the period were as follows.. 2024 2023 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. Corporatlon Taxation The charity is exempt from corporation tax on its income and gains to the extent that these are applied to its charitable objectives. Fixed assets 2024 2023 Computer and Equipment Cost Depreciation for the year Accumulated Depreciation B/Fwd 2,706 11,1481 19021 1,998 16671 14811 656 850 Debtors 2024 2023 Rent Deposit Other Debtors 10,163 3,780 10,163 3,780 Pa8e 14 of 15
The Suffa Educational Foundation Period ended 31 March 2024 io. Cash at Bank and in Hand 2024 2023 Cash at Bank 39,264 452 9,671 647 Cash in Hand Totsl 39,716 10,318 ii. Creditors: amounts falling due within one year 2024 2023 Accruals Social Security Taxe5 Other Creditors 1,300 23,615 280 1,250 18,977 808 Totsl 25,195 21,035 12. Charlty Funds 2023 Balance BIF 2024 Balance CIF Income Expenditure Transfers Fund names Zakaat Restricted Qurbani Restricted General Fund Unrestricted 10,318 14,602 1,826 283,791 17,7601 982 18,142 1,826 5,372 116,4051 1261,0321 19821 Total Funds 16,0871 300,219 1268,7921 25,340 Pa8e 15 of 15