**Charity Registration No. 1188819** 

## **RAHAMKAR FOUNDATION CIO** 

(A CHARITABLE INCORPORATED ORGANISATION) 

**REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021** 



**RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **CONTENTS** 

## **FOR THE PERIOD ENDED 31 MARCH 2021** 

|**_______________________________________________________________________________________**|**_______________________________________________________________________________________**|
|---|---|
||**Pages**|
|Legal and administrative information|2|
|Trustees’ report|3 – 6|
|Statement of financial activities|7|
|Balance sheet|8|
|Cash flow statement|9|
|Notes to the financial statements|10 – 14|



1 



**RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE PERIOD ENDED 31 MARCH 2021** 

**_______________________________________________________________________________________ Trustees** Mohammed Hanif Mohammad Ansari **Principal Address** 65 Lakey Lane Birmingham B28 9DS **Charity Number** 1188819 

2 



**RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **TRUSTEES’ REPORT** 

## **FOR THE PERIOD ENDED 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

The Trustees present their report and financial statements for the period ended 31 March 2021. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the  Statement of  Recommended  Practice  (SORP) "Accounting  and  Reporting  by  Charities"  applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 01 January 2019). 

## **Structure, governance and management** 

## _Governing document/Constitution_ 

The organisation is a Charitable Incorporated Organisation (CIO). The charity was established by Constitution signed on 05 March 2020 and registered with the Charity Commission on 31 March 2020, under number 1188819. 

## _Tax status_ 

The charity is registered as a CIO and is therefore exempt from corporation tax and income tax. 

## _Recruitment and training of trustees_ 

The Board of Trustees currently consists of two members who were recruited due to their commitment and expertise.  Role descriptions, where applicable, are issued to each Trustee and a full induction is given setting out the obligations of a Trustee.  The list of current Trustees can be found on page 2 of this document. 

## _Organisational structure_ 

The Charity is principally based in Birmingham but intends to work with organisations across the United Kingdom and abroad.  The Trustees are responsible for the governance of the Charity, and the day-to-day management is performed by the Trustees and volunteers. 

## _Key risks and uncertainties_ 

The Trustees actively review the major risks which the Charity faces on a regular basis, in particular those relating to its operations and finances. They are satisfied that systems are in place to mitigate the charity’s exposure to the major risks. The risk management strategy comprises: 

- A regular review of the risks which the Charity may face; 

- The adequacy of current systems and procedures to mitigate those risks identified in the strategy; and 

- The implementation of procedures designed to minimise any potential risk on the Charity should any of those risks materialise. 

The strategy is reviewed regularly by the Trustees. 

3 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **TRUSTEES’ REPORT** 

## **FOR THE PERIOD ENDED 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

## **Aims, objectives and activities** 

## _Aims, objectives and intended impacts_ 

## Objects: 

_To advance the Islamic faith in the UK and abroad, for the benefit of the public, in particular but not exclusively, through the holding of prayer meetings, lectures, and producing and/or distributing literature (printed or online) on Islam to enlighten others about the faith. We will also look to help the poor and needy and promote religious and racial harmony as an expression of our faith._ 

## _Public benefit statement_ 

The section of this report above entitled ‘Aims, objectives and activities’ sets out the aims and priorities of the Charity. The Trustees have considered this matter, in conjunction with the guidance contained in the Charity Commission’s general guidance on public benefit, and have concluded: 

- That the aims of the Charity continue to be charitable; 

- That the aims and work done give identifiable benefits to the charitable sector and both indirectly and directly to individuals in need; 

- That the benefits are for the public, are not unreasonably restricted in any way and certainly not by ability to pay 

- That there is no detriment or harm arising from the aims or activities. 

## _Review of achievements and performance for the period_ 

Since its registration 12 months ago, the Charity has not formally started its work and has been mainly dormant throughout the period except for a few initial donations. 

This is mainly because the fact that the UK went into lockdown the same week the Charity received its registration confirmation. Covid restrictions around meeting face-to-face meant performing the work of meeting for prayers and classes couldn’t formally start. 

4 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **TRUSTEES’ REPORT** 

## **FOR THE PERIOD ENDED 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

## _Aims, objectives and intended impacts (cont.)_ 

## _Keys risks and uncertainties_ 

The Trustees actively review the major risks which the Charity faces on a regular basis, in particular those relating to its operations and finances.  They are satisfied that systems are in place to mitigate the charity’s exposure to the major risks.  The risk management strategy comprises: 

- A regular review of the risks which the Charity may face; 

- The adequacy of current systems and procedures to mitigate those risks identified in the strategy; 

- The implementation of procedures designed to minimise any potential risk on the Charity should any of those risks materialise. 

The strategy will be reviewed regularly by the Trustees. 

## **Financial review** 

## _Principal sources of funding_ 

The principal source of funding for the Charity is from individual donors. Voluntary donations received in the period amounted to £1,733. Costs were kept under rigid control during the period and monitored regularly. 

## _Reserves Policy_ 

The Charity holds unrestricted funds which have been provided to the charity via donations and charitable activities. Under the terms of the donations, the charity must retain the assets in perpetuity and can only use the income to support its charitable activities. 

The unrestricted funds represent income earned but not yet utilised in supporting charitable activities. At 31 March 2021, the charity held reserves of £307 as unrestricted and undesignated free reserves. Restricted reserves at the end of the year amount to £1,001. 

## _Going Concern_ 

The Charity expects to begin its work properly in the next period and currently has no expenditure or commitments. After making further appropriate enquiries and gaining assurances over income levels in the future, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 

## **Future plans** 

Due to the calendar year for 2021 looking similar with restrictions continuing in the UK, the trustees are looking to formally start the work of the charity with regard to holding projects in the 2022-2023 period. 

5 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **TRUSTEES’ REPORT** 

## **FOR THE PERIOD ENDED 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

## **Statement of Trustees’ responsibilities** 

The Trustees are required to prepare financial statements for each financial year in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of resources, including the net income and expenditure for the year. In preparing those financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable 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 business. 

The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and all other applicable law. 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 irregularities. 

## **Accounts preparation** 

The Trustees confirm that the accounts comply with current statutory requirements, and with those of the governing instrument. 

This report was approved by the Trustees on 30 January 2022 and signed on their behalf, by: 


**Mohammad Ansari** Trustee 

6 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

|||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|
|||**2021**|**2021**|**2021**|
||**Note**|**£**|**£**|**£**|
|**Income from:**|||||
|Donations and legacies<br>|2|**732**|**1,001**|**1,733**|
|||_________|_________|_________|
|**Total income**||**732**|**1,001**|**1,733**|
|||_________|_________|_________|
|**Expenditure on:**|||||
|Charitable expenditure<br>|3|**425**|**-**|**425**|
|||_________|_________|_________|
|**Total expenditure**||**425**|**-**|**425**|
|||_________|_________|_________|
|**Net movement in funds**||**307**|**1,001**|**1,308**|
|**Reconciliation of funds:**|||||
|Total funds brought forward||-|<br>-|-|
|||_________|_________|_________|
|**Total funds carried forward**<br>|5|**307**|**1,001**|**1,308**|
|||_________|_________|_________|



All incoming resources and resources expended derive from continuing activities. 

The notes on pages 10 to 14 form part of these financial statements. 

7 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **BALANCE SHEET AS AT 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

||||**2021**|
|---|---|---|---|
||**Note**|**£**|**£**|
|**Current assets**||||
|Cash at bank and in-hand||**1,308**||
|||_________||
|||**1,308**||
|**Creditors:**||||
|Amounts falling due||||
|within one year||**-**||
|||_________||
|**Net current assets**|||**1,308**|
||||_________|
|**Net assets**|||**1,308**|
||||**_________**|
|**Funds**||||
|Unrestricted funds|5||**1,308**|
||||_________|
||||**1,308**|
||||**_________**|



The notes on pages 10 to 14 form part of these financial statements. 

The financial statements were approved by the Trustees on 30 January 2022 & signed on their behalf, by: 


**Mohammad Ansari** Trustee 

8 



**RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 MARCH 2021** 

|**_______________________________________________________________________________________**|**_______________________________________________________________________________________**|**_______________________________________________________________________________________**|
|---|---|---|
||**Note**|**2021**|
|||**£**|
|**Cash flows from operating activities:**|||
|**Net cash provided by operating activities**|8|**1,308**|
|||_________|
|Increase / (decrease) in cash & cash equivalents|||
|in the reporting period||**1,308**|
|||_________|
|Cash & cash equivalents at the beginning of|||
|the reporting period||**-**|
|||_________|
|**Cash & cash equivalents at the end of the**|||
|**reporting period**|9|**1,308**|
|||**_________**|
|The notes on pages 10 to 14 form part of these financial|statements.||



9 



**RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021** 

**_______________________________________________________________________________________** 

## **1. Accounting policies** 

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The Charity 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. 

The following principal accounting policies have been applied: 

## _**a)  Incoming resources**_ 

Income includes the total funds received during the period and comprises donations collected directly or by volunteers and income from fundraising events. Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. 

Income tax reclaimable under the Gift Aid Scheme is recognised on an accruals basis once income is considered probable. 

Donors are given the option to restrict their donation when it is made. Any Gift Aid claimed on restricted donations is classed as unrestricted income. 

## _**b) Resources expended and basis of allocation**_ 

Expenditure is included when incurred and has been shown in the Statement of Financial Activities inclusive of non-recoverable Value Added Tax. 

Expenditure on operational programmes is recognised in the period in which it is incurred. 

Currently all costs are directly attributable to specific activities, but where required, certain shared costs will be apportioned to activities in furtherance of the objects of the Charity. 

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**RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021** 

**_______________________________________________________________________________________** 

## **1. Accounting policies (cont.)** 

## **c** _**) Funds accounting**_ 

Funds held by the charity are: 

_Unrestricted funds -_ These are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. 

_Designated funds_ – These are unrestricted funds earmarked by the trustees for particular purposes. 

_Restricted funds_ – These are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. 

## _**d) Cash at bank and in hand**_ 

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## _**e) Judgements in applying accounting policies and key sources of estimation uncertainty**_ 

In preparing the Financial Statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. 

The directors consider that there are no significant areas of key judgement or estimation uncertainty other than those identified in the accounting policies above. 

## **2. Donations and legacies** 

||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**Funds**|**Funds**|**Funds**|
||**2021**|**2021**|**2021**|
||**£**|**£**|**£**|
|Voluntary donations|**732**|**1,001**|**1,733**|
||_________|_________|_________|
||**732**|**1,001**|**1,733**|
||**_________**|**_________**|**_________**|



11 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021** 

**_______________________________________________________________________________________** 

## **3. Charitable activities - costs** 

||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**Funds**|**Funds**|**Funds**|
||**2021**|**2021**|**2021**|
||**£**|**£**|**£**|
|IT & website costs|**365**|**-**|**365**|
|Bank charges|**60**|**-**|**60**|
||_________|_________|_________|
||**425**|**-**|**425**|
||**_________**|**_________**|**_________**|



## **4. Staff & Trustees costs** 

There were no employees in the period. 

During the period £NIL of expenses were incurred for the reimbursement of Trustees’ expenses. The Trustees received no other remuneration in the period. 

## **5. Statement of funds** 

|**Restricted funds**<br>Zakat distribution<br> <br>**Total restricted funds**  <br> <br>**Unrestricted funds**<br>General reserve<br> <br> <br>**Total funds**<br> <br>|**Brought**<br>**forward**<br>**£**<br>-<br> ________<br>**-**<br> ________<br>-<br>**________**<br>- <br> **________**|**Incoming**<br>**resources**<br>**£**<br>1,001<br>________<br>**1,001**<br>________<br>732<br>**________**<br>**1,733**<br> **________**|**Resources**<br>**expended**<br>**£**<br> -<br>_________<br>**-**<br>_________<br>**(**425)<br>**_________**<br>**(425)**<br> **_________**|**Fund**<br>**transfers**<br>**£**<br> -<br>_________<br>**-**<br>_________<br>- <br>**_________**<br> - <br> **_________**|**Carried**<br>**forward**<br>**£**<br>1,001<br>_________<br>**1,001**<br>_________<br>**307**<br>**_________**<br>**1,308**<br>**_________**|
|---|---|---|---|---|---|



12 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021** 

## **_______________________________________________________________________________________** 

## **Restricted Project Descriptions** 

## _Zakat distribution_ 

Zakat is a specific type of donation which is restricted to be distributed to the very poorest in society for their most urgent and vital needs. We intend to use these funds for food and water distribution in poor countries, as well as any other project that the Trustees deem fit when an appropriate project proposal is put forward. 

## **6. Analysis of net assets between funds** 

||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**|**funds**|
||**£**|**£**|**£**|
|**Fund balances at 31 March 2021 are represented by:**||||
|**Net current assets**<br>|**307**|**1,001**|**1,308**|
||________|________|_________|
|**Total funds**<br>|**307**|**1,001**|**1,308**|
||**________**|**________**|**_________**|



## **7. Related parties** 

There were no related party transactions in the period. 

## **8. Reconciliation of cash flows from operating activities** 

||**2021**|
|---|---|
||**£**|
|<br>Net income / (expenditure) for the reporting period<br>|**1,308**|
||_________|
|**Net cash provided by operating activities**|**1,308**|
||**_________**|



13 



## **RAHAMKAR FOUNDATION CIO** (A CHARITABLE INCORPORATED ORGANISATION) 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021** 

**_______________________________________________________________________________________** 

## **9. Analysis of cash and cash equivalents** 

|**9. Analysis of cash and cash equivalents**||
|---|---|
||**2021**|
||**£**|
|Cash at bank and in hand|**1,308**|
||_________|
|**Total of cash and cash equivalents**|**1,308**|
||**_________**|



## **9A. Analysis of changes in net debt** 

||**At start**|**Cashflows**|**At end**|
|---|---|---|---|
||**of year**|**in year**|**of year**|
||**£**|**£**|**£**|
|Cash|-|**1,308**|**1,308**|
||_________|_________|_________|
||-|**1,308**|**1,308**|
||**_________**|**_________**|**_________**|



14