**REGISTERED CHARITY NUMBER: 1187628**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2024**
## **for**
## **THE JOSEPH EDUCATION TRUST**
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
**THE JOSEPH EDUCATION TRUST**
**Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
|**Detailed Statement of Financial Activities**||12||
**THE JOSEPH EDUCATION TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 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 (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The charity's objects are:
- To advance the Muslim faith for the benefit of the public throughout England.
- The promotion of religious harmony for the benefit of the public by promoting knowledge and mutual understanding and respect of the beliefs and practices of different religious faiths.
- To advance the education of the public in national curriculum subjects.
- Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature responsible individuals.
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
Our services/events:
- Preparation of Ellen House Secondary - Ellen House Secondary is an upcoming independent boys' secondary school. To prepare for the inspection, significant investments were made. Five new classrooms were constructed, along with a state-of-the-art science lab, IT lab and a new library. Each classroom was equipped with interactive smartboards, tables, chairs, and carpet furnishings to ensure a modern and comfortable learning experience. The science lab installation included essential plumbing and electrical work, while the IT suite was furnished with new chairs, units, and computers. Gates were installed around the vicinity of the school along with a new fob system to ensure safeguarding standards are met for the school and nursery. These developments mark a significant step forward in establishing a well-resourced and inspiring educational space.
- Ofsted Pre-inspection passed for Maple Leaf Kindergarten (Feb 2024) - In preparation for the nursery's pre-inspection, we focused on ensuring all areas were compliant with regulatory standards and ready to provide a high-quality environment for children. Key steps included creating policies and procedures, conducting trainings to align with safeguarding and EYFS requirements, and ensuring all documentation was up-to-date and easily accessible. The physical environment was thoroughly assessed, with safety checks carried out and resources organised to reflect an engaging and stimulating learning space.
On the day of the inspection, the inspectors noted our robust policies, well-maintained environment, and the dedication of our team. Positive feedback highlighted the quality of teaching, our focus on child-centred learning, and strong safeguarding measures. As a result, we successfully passed the inspection, reaffirming our commitment to excellence in early years education.
- Summer Funday - We successfully hosted our annual summer fundraising event in our new building, which featured a variety of stalls and outdoor activities catering to both youngsters and elders in the community. The event was centred around fostering community spirit, helping to strengthen the bond between the Charity and those we serve. The funds raised contributed significantly towards loan repayments and supported our proposed School and Nursery projects.
- Winter Funday - We held our annual winter fundraising event in the building. The day was centred around celebrating community spirit, strengthening the bond between the Charity and those we serve. Attendees appreciated the welcoming atmosphere, which offered a respite from the cold while engaging in meaningful connections and activities. The funds raised during the event contributed towards ongoing projects, including our proposed School and Nursery, as well as supporting other community initiatives.
- Annual Conference - An annual event where we organise, host and invite reputable scholars to talk about how to spiritually connect ourselves with God and be good citizens. This conference was our 4th annual event.
Page 1
**THE JOSEPH EDUCATION TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024**
## **FINANCIAL REVIEW**
## **Financial position**
In this financial year, TJET has been in surplus and with continuing demand for services and support for the Charity, the financial outlook going forward into 2023/24 remains positive. The Trustees will continue working closely with all the volunteers and ensure the momentum is maintained to successfully deliver the future plans of TJET.
## **Reserves policy**
The Trustees have established a policy whereby the unrestricted funds held by the charity should be sufficient to cover four months of the resources expended. The Trustees will ensure that the restricted funds are expended so that the conditions attached to such funds are met. At present, the level of unrestricted funds exceeds the target level.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The existing trustees are responsible for the recruitment of new trustees but in doing so the trustees seek the views and recommendations of both elders and other members of the organisation. The trustees believe this approach ensures that new trustees are respected and trustworthy members of the faith and local communities and ensures that good relations are fostered between the Trust and the people of the local community that we serve.
In selecting new trustees, we seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees' meetings as observers and are given more details of the charity's aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the person's eligibility, personal competence, specialist knowledge and skills.
## **Risk management**
Trustees routinely perform risk assessments to identify key risks relevant to the charity. They have updated and added to the wide range of policies and procedures in place. All Trustees and volunteers are provided with a handbook, which informs them of the Charites policies. This includes the Health and Safety and Safeguarding policies.
The Trust is constituted as a charitable trust registered with the Charity Commission. It is governed by a constitution.
The charity trustees are responsible for the general control and management of the charity.
The trustees give their time freely and receive no remuneration or other financial benefits.
The trustees meet together as a body quarterly and are responsible for all decisions taken in relation to running the organisation and the activities provided by the charity. At the quarterly meetings, the Trustees review the charity's financial position, progress, issues and direction of the organisation.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1187628
## **Principal address**
Ellen House Waddington Street Oldham OL9 6QH
Page 2
**THE JOSEPH EDUCATION TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024**
## **Trustees**
Mohammed Iqbal Ali Najia Begum (appointed 12/9/23) Sufyan Boodi Mohammed Imran Ali Amir Khan Ejazur Rahman
## **Independent Examiner**
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
Charity trustees are the people who serve on the governing body of a charity. They may be known as trustees, board members, governors or committee members.
The principles and main duties are the same in all cases. Trustees have, and must accept, ultimate responsibility for directing the affairs of a charity, and ensuring that it is solvent, well-run, and meeting the needs for which it has been set up.
Approved by order of the board of trustees on 13 January 2025 and signed on its behalf by:
Mohammed Iqbal Ali - Trustee
Page 3
**Independent Examiner's Report to the Trustees of**
**The Joseph Education Trust**
## **Independent examiner's report to the trustees of The Joseph Education Trust**
I report to the charity trustees on my examination of the accounts of The Joseph Education Trust (the Trust) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable 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.
Shamim Mahomed
SKM Chartered Accountants Pegasus House 5 Winckley Court Mount Street Preston Lancashire PR1 8BU
13 January 2025
Page 4
## **THE JOSEPH EDUCATION TRUST**
## **Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
**Charitable activities**
Management
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2024
Unrestricted
fund
£
142,018
88,164
53,854
1,165,942
1,219,796|2023
Total
funds
£
137,911|
|---|---|---|
|||22,045|
|||115,866
1,050,076|
|||1,165,942|
The notes form part of these financial statements
Page 5
## **THE JOSEPH EDUCATION TRUST**
## **Balance Sheet 31 MARCH 2024**
|Notes
**FIXED ASSETS**
Tangible assets
4
**CURRENT ASSETS**
Debtors
5
Cash at bank
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
8
Unrestricted funds
**TOTAL FUNDS**|2024
Unrestricted
fund
£
1,570,582
5,079
12,065
17,144
(367,930)
(350,786)
1,219,796
1,219,796
1,219,796
1,219,796|2023
Total
funds
£
1,549,416
5,079
47,947
53,026
(436,500)
(383,474)
1,165,942
1,165,942
1,165,942
1,165,942|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 January 2025 and were signed on its behalf by:
Mohammed Iqbal Ali - Trustee
The notes form part of these financial statements
Page 6
**THE JOSEPH EDUCATION TRUST**
**Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings - 15% Reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
Page 7
**THE JOSEPH EDUCATION TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
**Charitable activities**
Management
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**4.**
**TANGIBLE FIXED ASSETS**|Unrestricted
fund
£
137,911|
|---|---|
||22,045|
||115,866
1,050,076|
||1,165,942|
|||
|**COST**
At 1 April 2023
Additions
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Freehold
property
£
1,495,965
-
1,495,965
-
-
-
1,495,965
1,495,965|Improvements
to
property
£
50,411
21,622
72,033
-
-
-
72,033
50,411|Fixtures
and
fittings
£
3,577
-
3,577
537
456
993
2,584
3,040|Totals
£
1,549,953
21,622|
|---|---|---|---|---|
|||||1,571,575|
|||||537
456|
|||||993|
|||||1,570,582|
|||||1,549,416|
continued...
Page 8
**THE JOSEPH EDUCATION TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**5.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**6.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 7)
Other creditors
**7.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
**8.**
**MOVEMENT IN FUNDS**
At 1/4/23
£
**Unrestricted funds**
General fund
1,165,942
**TOTAL FUNDS**
1,165,942
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
142,018
**TOTAL FUNDS**
142,018||2024
£
5,079
2024
£
366,250
1,680
367,930
2024
£
366,250
Net
movement
in funds
£
53,854
53,854
Resources
expended
£
(88,164)
(88,164)|2023
£
5,079
2023
£
435,060
1,440
436,500
2023
£
435,060
At
31/3/24
£
1,219,796
1,219,796
Movement
in funds
£
53,854
53,854|
|---|---|---|---|
|||||
|||||
continued...
Page 9
**THE JOSEPH EDUCATION TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **8. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/22
£
1,050,076
1,050,076|Net
movement
in funds
£
115,866
115,866|At
31/3/23
£
1,165,942|
|---|---|---|---|
||||1,165,942|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
137,911
137,911|Resources
Movement
expended
in funds
£
£
(22,045)
115,866
(22,045)
115,866|Resources
Movement
expended
in funds
£
£
(22,045)
115,866
(22,045)
115,866|
|---|---|---|---|
||||115,866|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/22
£
1,050,076
1,050,076|Net
movement
in funds
£
169,720
169,720|At
31/3/24
£
1,219,796|
|---|---|---|---|
||||1,219,796|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
279,929
279,929|Resources
Movement
expended
in funds
£
£
(110,209)
169,720
(110,209)
169,720|Resources
Movement
expended
in funds
£
£
(110,209)
169,720
(110,209)
169,720|
|---|---|---|---|
||||169,720|
continued...
Page 10
**THE JOSEPH EDUCATION TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
Page 11
**THE JOSEPH EDUCATION TRUST**
## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Light and heat
Telephone
Postage and stationery
Food
R&R
Legal & Professional
Books
Computer Costs
Training
**Support costs**
**Management**
Insurance
Sundries
Fixtures and fittings
**Finance**
Bank charges
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|2024
£
142,018
142,018
8,451
1,019
5,116
1,805
38,839
4,215
7,591
11,074
3,462
81,572
3,994
612
456
5,062
570
960
88,164
53,854|2023
£
137,911|
|---|---|---|
|||137,911
2,308
531
1,318
1,223
4,492
291
5,757
-
-|
|||15,920
3,034
-
537|
|||3,571
994
1,560|
|||22,045|
|||115,866|
This page does not form part of the statutory financial statements
Page 12