Imam Zamana Trust
Charity No. 1187119
Trustees' Report and Unaudited Accounts
31 December 2021
Imam Zamana Trust Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash flows | 11 |
| Notes to the Accounts | 7 to 10 |
| Detailed Statement of Financial Activities | 12 to |
Page 1
Imam Zamana Trust Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1187119
Trustees
The following trustees served during the year:
M.S. Mousavi
S. Tejani
M. Ukka
Accountants
Ali M Ali
AMA Accounting Ltd
90 Princes Avenue
Watford
WD18 7RS
OBJECTIVES AND ACTIVITIES
The prevention or relief of poverty by providing grants, items and services to individuals including orphans in need and/or charities, or financial hardship in by providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals including orphans and young people to generate a sustainable income and be self-sufficient
ACHIEVEMENTS AND PERFORMANCE
The Trust achieved the following during the year:
-
£5,610 was spent for Orphans in Iraq
-
£12,721 was spent on the poor in Tanzania and Iraq in line with the Trust's objectives
-
20 Cataract Operations were carried out in Tanzania for those who could not afford to pay their Operations
-
Travel and accommodation arrangement were made for 128 pilgrims to and from Iraq in December 2021
FINANCIAL REVIEW
During the period under review, the charity received unrestricted income of £145,160 and and incurred an expenditure of £132,205. At the Balance Sheet date the charity had unrestricted funds of £23,234
PLANS FOR FUTURE PERIODS
In 2022, The Charity plans to carry out similar activities as in 2021
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
Imam Zamana Trust Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to 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 Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
M. Ukka Trustee 28 October 2022
Page 3
Imam Zamana Trust Independent Examiners Report
Independent Examiner's Report to the trustees of Imam Zamana Trust
I report to the trustees on my examination of the financial statements of Imam Zamana Trust for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements 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
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Ali M Ali AAT AMA Accounting Ltd 90 Princes Avenue Watford WD18 7RS
28 October 2022
Page 4
Imam Zamana Trust Statement of Financial Activities
for the year ended 31 December 2021
| Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Charitable activities 4 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2021 | 2021 | 2020 | ||
| £ | £ | £ | ||
| 145,160 | 145,160 | 14,527 | ||
| 145,160 | 145,160 | 14,527 | ||
| 132,205 | 132,205 | 4,248 | ||
| 132,205 | 132,205 | 4,248 | ||
| - | - | - | ||
| 12,955 | 12,955 | 10,279 | ||
| - | - | - | ||
| 12,955 | 12,955 | 10,279 | ||
| 12,955 | 12,955 | 10,279 | ||
| 10,279 | 10,279 | - | ||
| 23,234 | 23,234 | 10,279 | ||
Page 5
Imam Zamana Trust Balance Sheet
at 31 December 2021
| at 31 December 2021 | ||
|---|---|---|
| Charity No. 1187119 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 6 Unrestricted funds 6 General funds Reserves 6 Total funds Approved by the trustees on 28 October 2022 |
2021 £ 23,234 23,234 23,234 23,234 23,234 23,234 23,234 23,234 23,234 |
2020 £ 10,279 |
| 10,279 | ||
| 10,279 10,279 |
||
| 10,279 | ||
| 10,279 | ||
| 10,279 | ||
| 10,279 | ||
| 10,279 | ||
And signed on their behalf by:
M. Ukka Trustee 28 October 2022
Page 6
Imam Zamana Trust Notes to the Accounts
for the year ended 31 December 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Imam Zamana Trust Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds carried forward |
Unrestricted funds 2020 £ 14,527 14,527 4,248 4,248 10,279 10,279 10,279 10,279 |
Total funds 2020 £ 14,527 |
|---|---|---|
| 14,527 4,248 |
||
| 4,248 | ||
| 10,279 | ||
| 10,279 | ||
| 10,279 | ||
| 10,279 |
Page 8
Imam Zamana Trust Notes to the Accounts
3 Income from donations and legacies
| 4 Expenditure on charitable activities Expenditure on charitable activities Governance costs 5 Staff costs No employee received emoluments in excess 6 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 7 Analysis of net assets between funds Net current assets |
of £60,000. At 1 January 2021 10,279 10,279 |
Unrestricted £ 145,160 145,160 Unrestricted £ 132,205 132,205 Incoming resources (including other gains/losses ) £ 145,160 145,160 |
Total 2021 £ 145,160 145,160 Total 2021 £ 132,205 132,205 Resources expended £ (132,205) (132,205) Unrestricted funds £ 23,234 23,234 |
Total 2020 £ 14,527 |
|---|---|---|---|---|
| 14,527 | ||||
| Total 2020 £ 4,248 |
||||
| 4,248 | ||||
| At 31 December 2021 £ 23,234 |
||||
| 23,234 | ||||
| Total £ 23,234 |
||||
| 23,234 |
Page 9
Imam Zamana Trust Notes to the Accounts
8 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 January 2021 £ |
Cash flows £ |
At 31 December 2021 £ |
| 10,279 | 12,955 | 23,234 | |
| 10,279 10,279 |
12,955 12,955 |
23,234 | |
| 23,234 |
Page 10
Imam Zamana Trust Statement of Cash flows for the year ended 31 December 2021
| Cash flows from operating activities Net income per Statement of Financial Activities Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2021 £ 12,955 12,955 - - 12,955 10,279 23,234 |
2020 £ 10,279 |
|---|---|---|
| 10,279 | ||
| - | ||
| - | ||
| 10,279 | ||
| - | ||
| 10,279 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 23,234 | 10,279 |
| 23,234 | 10,279 |
Page 11
Imam Zamana Trust Detailed Statement of Financial Activities
for the year ended 31 December 2021
| Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 145,160 145,160 145,160 132,205 132,205 132,205 132,205 - 12,955 12,955 - 12,955 10,279 23,234 |
Total funds 2021 £ 145,160 145,160 145,160 132,205 132,205 132,205 132,205 - 12,955 12,955 - 12,955 10,279 23,234 |
Total funds 2020 £ 14,527 |
|---|---|---|---|
| 14,527 | |||
| 14,527 4,248 |
|||
| 4,248 | |||
| 4,248 4,248 - |
|||
| 10,279 | |||
| 10,279 - |
|||
| 10,279 | |||
| - | |||
| 10,279 |
Page 12