2022-12-31-accounts - Imam Zamana Trust

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Imam Zamana Trust

Charity No. 1187119

Trustees' Report and Unaudited Accounts

31 December 2022

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

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 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1187119

Trustees

The following trustees served during the year:

M.S. Mousavi

S. Tejani

M. Ukka

Accountants

AMA Accounting Limited

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:

£7,272 was donated by the Trust for Medical purposes
£3,000 was donated towards the Pakistan Flood Relief
100 Cataract Operations were carried out in Tanzania for those who could not afford to pay for their Operations
Travel and accommodation arrangement were made for 60 pilgrims to and from Iraq in December 2022

FINANCIAL REVIEW

During the period under review, the charity received unrestricted income of £103,939 (2021: £145,160) and and incurred an expenditure of £113,031 (2021: £132,205). At the Balance Sheet date the charity had unrestricted funds of £14,142 (2021: £23,234).

PLANS FOR FUTURE PERIODS

In 2023, The Charity plans to carry out similar activities as in 2022

Statement of trustees' responsibilities in relation to the financial statements

Page 2

Imam Zamana Trust Trustees Annual Report

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).

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 20 October 2023

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 2022.

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').

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 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 Limited 90 Princes Avenue Watford WD18 7RS

20 October 2023

Page 4

Imam Zamana Trust Statement of Financial Activities

for the year ended 31 December 2022

Unrestricted funds	Total funds	Total funds
2022	2022	2021
£	£	£

103,939	103,939	145,160
103,939	103,939	145,160

113,031	113,031	132,205
113,031	113,031	132,205
-	-	-
(9,092)	(9,092)	12,955
-	-	-
(9,092)	(9,092)	12,955

(9,092)	(9,092)	12,955

23,234	23,234	10,279
14,142	14,142	23,234

Page 5

Imam Zamana Trust Balance Sheet

at 31 December 2022

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 20 October 2023 And signed on their behalf by: M. Ukka Trustee 20 October 2023	2022 £ 14,142 14,142 14,142 14,142 14,142 14,142 14,142 14,142 14,142	2021 £ 23,234
		23,234
		23,234 23,234
		23,234
		23,234
		23,234
		23,234
		23,234

Page 6

Imam Zamana Trust Notes to the Accounts

for the year ended 31 December 2022

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

Imam Zamana Trust

Notes to the Accounts

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 brought forward Total funds carried forward 3 Income from donations and legacies 4 Expenditure on charitable activities Expenditure on charitable activities Governance costs	Unrestricted £ 103,939 103,939 Unrestricted £ 113,031 113,031	Unrestricted funds 2021 £ 145,160 145,160 132,205 132,205 12,955 12,955 12,955 10,279 23,234 Total 2022 £ 103,939 103,939 Total 2022 £ 113,031 113,031	Total funds 2021 £ 145,160
			145,160 132,205
			132,205
			12,955
			12,955
			12,955 10,279
			23,234
			Total 2021 £ 145,160
			145,160
			Total 2021 £ 132,205
			132,205

5 Staff costs No employee received emoluments in excess of £60,000.

Page 9

Imam Zamana Trust Notes to the Accounts

6 Movement in funds

Incoming resources (including other gains/losses) £ 103,939 103,939 At 1 January 2022 £	Resources expended £ (113,031) (113,031) Unrestricted funds £ 14,142 14,142 Cash flows £	At 31 December 2022 £ 14,142
		14,142
		Total £ 14,142
		14,142
		At 31 December 2022 £
23,234	(9,092)	14,142
23,234 23,234	(9,092) (9,092)	14,142
		14,142

Page 10

Imam Zamana Trust Statement of Cash flows for the year ended 31 December 2022

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Net cash (used in)/provided by operating activities Net cash from investing activities Net cash from financing activities Net (decrease)/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	2022 £ (9,092) (9,092) - - (9,092) 23,234 14,142	2021 £ 12,955
		12,955
		-

		-

		12,955
		10,279
		23,234

Components of cash and cash equivalents
Cash and bank balances	14,142	23,234

	14,142	23,234

Page 11

Imam Zamana Trust Detailed Statement of Financial Activities

for the year ended 31 December 2022

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 (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds 2022 £ 103,939 103,939 103,939 113,031 113,031 113,031 113,031 - (9,092) (9,092) - (9,092) 23,234 14,142	Total funds 2022 £ 103,939 103,939 103,939 113,031 113,031 113,031 113,031 - (9,092) (9,092) - (9,092) 23,234 14,142	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

Page 12