PAIGHAM TRUST CHARITY NO: 1192892 FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 OCTOBER 2021
MST ACCOUNTANTS AND BUSINESS ADVISORS LIMITED 9 GRANGE ROAD NEWCASTLE UPON TYNE NE4 9LB
PAIGHAM TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 OCTOBER 2021
INDEX TO FINANCIAL STATEMENTS
PAGE REF
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1 Trustees Report
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2 Independent Examiners Report 3-6 Financial Statements and Note
PAIGHAM TRUST
FINANCIAL STATEMENTS FOR
THE YEAR ENDED 15 OCTOBER 2021
T USTEES ANNUAL REPORT
The Trustees peruse the annual report and financial statements for the year ended 15 October 2021
Charity Name: - Paigham Trust Principal Address of Charity: - 93 Greenhill lane Bradford BD3 8DZ
OBJECTS OF THE CHARITY
“To advance the Islamic faith for the public benefit throughout the UK through the provision of educational programmes and books.” “The relief and assistance of people in any part of the world who are the victims of natural disasters, trouble or catastrophe in particular by providing financial assistance and/or goods and services.”
NAMES OF THE TRUSTEES
The trustees of the charity are as follows: -
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Mahmood Ul Hassan Yazdani
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Salah Ud Din
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Mohammed Abdul Hadi
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Hafiz Hamood-UR-Rehman
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Mahmood Hussain
The trustees are volunteers who serve in office for a period determined by general meeting. The trustees generally give their time freely and receive no remuneration or other benefits. Please see page 4.
STRUCURE GOVERNANCE & MANAGEMENT
ORGANISED STRUCTURE
The trustees meet at regular intervals and are responsible for all decisions in relation to the running of the charity.
RECRUITMENT OF TRUSTEES
The existing trustees are responsible for the recruiting of new trustees but in doing so the trustees seek the views and recommendations of others.
RISK MANAGEMENT
The trustees seek to take no risks with the running of the charity and the finances of the charity are kept under constant review.
ACTIVITIES & ACHIEVEMENTS
The Charity has pursued its objectives during the period of advance the Islamic faith for the public benefit throughout the UK through the provision of educational programmes through the Tv channel. Further the charity has printed Ten thousand of Quran to distribute to the public worldwide. Furthermore, the food and assistance were given to people who were affected by flood in India.
DECLARATION
I declare in my capacity of charity chairperson that the trustees have approved the above report and have authorised me to sign it on their behalf.
…………………………………………………
Mohammed Abdul Hadi
Dated: 22 September 2022
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REPORT TO THE TURSTEES AND MEMEBERS OF PAIGHAM TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 OCTOBER 2021
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145 (5)(b) of the Act); and
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to state whether particular matters have come to our attention.
Basis of independent examiner’s statement
Our 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 given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act, and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
…………………………………..
9 Grange road MST ACCOUNTANTS AND BUSINESS ADVISORS LIMITED Fenham Newcastle upon Tyne NE4 9LB
DATED: 22 SEPTEMBER 2022
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PAIGHAM TRUST
ACCOUNTING STATEMENT STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 15 OCTOBER 2021
| INCOME RESOURCES NOTES Incoming Resources Donations Rent Total Incoming Resources RESOURCES EXPENDED Charitable Expenditure Costs of Activities for Charitable Objectives (2ai) (2aii) Total Resources Expended Net Movement in Funds |
UNRESTRICTED | |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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BALANCE SHEET AS AT 15 OCTOBER 2021
| CURRENT ASSETS Cash at Bank & in Hand CURRENT LIABILITIES Loans – Qard Hasana 5(h) Trade Creditors TOTAL NET CURRENT ASSETS LESS CURRENT LIABILITIES NET ASSETS REPRESENTED BY: INCOME FUNDS Unrestricted Funds Funds brought forward Deficit for Year |
NOTES | 2021 £ 849 (25,000) (15,164) |
|
|---|---|---|---|
| (39,315) | |||
| NET ASSETS REPRESENTED BY: |
|||
| (39,315) | |||
| 0 (39,315) |
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| FUNDS Unrestricted Funds Funds brought forward Deficit for Year |
|||
| (39,315) |
The financial statements were approved by the trustees 22 September 2022
…………………………………………………
Mohammed Abdul Hadi
Dated: 22 September 2022
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NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 OCTOBER 2021
1. ACCOUNTING POLICIES
(a) Basis of accounting
These accounts have been prepared in accordance with accounting standards, Accounting, and Reporting by Charities Statement of Recommended Practice (SORP 2005) and the Charities Act 2011.
2. EXPENDITURE
(a) Analysis of Resources Expended
i) Charitable Expenditure
| Educational TV Programme (ETV) Quran printing and Distribution Food relief |
2021 63,500 15,000 3,058 81,558 |
|---|---|
ii) Cost of Activities in Furtherance of the Charity’s Objectives
| Bank Charges Postage, Stationary & Promotional Literature Rent Telephone & Fax Advertising Legal & Professional |
2,021 312 138 2,460 56 7,746 600 |
|---|---|
| 11,312 |
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NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 OCTOBER 2021 CONT….
3. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or other related parties for reimbursement of out-of-pocket expenses incurred by them.
4. CONTINGENT LIABILITIES
No material liabilities existed at the year-end.
5. DECLARATION
(a) Charges in Year End
The trustees have established 15 October as the financial year-end date.
(b) Designated Funds
The Charity does not have any designated funds.
(c) Discontinued, Continuing and Acquired Operations
All the charities operations are continuing operations and there were no operations Discontinued or acquired during the year.
(d)
Inalienable or historic Assets
The charity has no assets at the balance sheet dated classed as inalienable or historic.
(e) Intangible Assets
The charity has no intangible assets.
(f) Subsidiaries
The charity has no subsidiary companies
- (g) Uncapitalised Fixed Assets
The charity has no material fixed assets, which have not been capitalised and Included on the balance sheet
- (h) Qard Hasana
The Qard Hasana loans are interest free and over no fixed time.
Trustees were lent this money to make this charity successful.
| (i) | Trade Creditors Print Time & Business Enterprises (Quran Printing) ETV Raza Malik Basu Marketing |
10,584 4,000 575 5 |
|---|---|---|
| 15,164 |
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