AL HAYAT TRUST Charity No. 1193461 Company No. CE024861 Trustees, Report and Unaudited Accounts 31 January 2024
AL HAYAT TRUST Contents Pages 2to3 Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts 9t013 Detailed Statement of Financial Activities 14to15 Page I
AL HAYAT TRUST Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 January 2024. REFERENCE AND ADMINISTRATIVE DEfAILS Company No. CE024861 Charity No. 1193461 Principal Office Al-Hayat Centre Unitl-3 Dukes Road Southampton S014 OSQ Registered Office AL HAYAT TRUST UNIT 1- 3 DUKES ROAD SOUTHAMPTON S014 OSQ Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: Rizwan Hussain Sabir Hussain Key Management Personnel Chair Trustee Rizwan Hussain Sabir Hussain Accountants Southampton Accountancy Services 44 Northam Road Southampton S014 OPA Bankers Starling Bank 5th Floor London Fruit and Wool Exchange l Duval Square London El 6PW Page 2
AL HAYAT 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 Companies Act 2006. 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. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board Rizwan Hussain Trustee 31 January 2024 Page 3
AL HAYAT TRUST Independent Examiners Report Independent Examiner's Report to the trustees of AL HAYAT TRUST I report to the charity trustees on my examination of the financial statements of AL HAYAT TRUST for the year ended 31 January 2024. Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 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: accounting records were not kept in accordance with section 386 of the 2006 Act ' or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not matter considered as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 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). 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. Ashraf Sumra - Member of Institute of Certified Bookkeepers (MICB CB.Cert) Southampton Accountancy Services 44 Northam Road Southampton S014 OPA 31 January 2024 Page 4
AL HAYAT TRUST Statement of Financial Activities for the year ended 31 January 2024 Unrestricted funds Total funds Total funds 2024 2024 2023 Notes Income and endowments from: Donations and legacies 60,842 60,842 55,402 Total 60,842 60,842 55,402 Expenditure on: Other 43,137 43,137 31,865 Total 43,137 43,137 31,865 Net gains on investments Net Income 17,705 17,705 23,537 Transfers between funds Net income before other gains/(losses) 17,705 17,705 23,537 Other gains and losses Net movement in funds 17,705 17,705 23,537 Reconciliation of funds: Total funds brought forward 29,986 29,986 6,449 Total funds carried forward 47,691 47,691 29,986 Page 5
AL HAYAT TRUST Summary Income and Expenditure Account for the year ended 31 January 2024 2024 2023 Income 60,842 55,402 Gross income for the year Expenditure 60,842 55,402 42,387 30,865 Depreciation and charges for impairment of fixed assets 750 1,000 Total expenditure for the year Net income before tax for the year 43,137 31,865 17,705 23,537 Net income for the year 17,705 23,537 Page 6
AL HAYAT TRUST Balance Sheet at 31 January 2024 Company No. CE024861 Notes 2024 2023 Fixed assets Tangible assets 2,250 2,250 3,000 3,000 Current assets Cash at bank and in hand 45,441 45,441 45,441 26,986 26,986 26,986 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability 47,691 29,986 47,691 29,986 Total net assets 47,691 29,986 The funds of the charity Restricted funds Unrestricted funds General funds 47,691 29,986 47,691 29,986 Reserves Total funds 47,691 29,986 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 31 January 2024 And signed on its behalf by: Rizwan Hussain Trustee 31 January 2024 Page 7
AL HAYAT TRUST Statement of Cash flows for the year ended 31 January 2024 2024 2023 Cash flows from operating artlvities Net income per Statement of Financial Activities 17,705 23,537 Adjustments for: Depreciation of property, plant and equipment 750 Net cash provided by operating artivities 18,455 24,537 Net cash from investing artivities Net cash from financing activities Net increase in cash and cash equivalents 18,455 24,537 Cash and cash equivalents at the beginning of the year 26,986 2,449 Cash and cash equivalents at the end of the year 45,441 26,986 Components of cash and cash equivalents Cash and bank balances 45,441 26,986 45,441 26,986 Page 8
AL HAYAT TRUST Notes to the Accounts for the year ended 31 January 2024 l Accounting policies Basis of preparation 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 I January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 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. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities (SOFA) when the charity 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 legacies Voluntary income received by way of grants, donations and gifts is included in the 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 investment assets This includes any gain or loss on the sale of investments. Page 9
AL HAYAT TRUST Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which 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. 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. 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. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation 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. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Page 10
AL HAYAT TRUST Notes to the Accounts 3 Statement of Financial Activities - prior year Unrestricted funds Total funds 2023 2023 Income and endowments from: Donations and legacies 55,402 55,402 Total 55,402 55,402 Expenditure on: Other 31,865 31,865 Total 31,865 31,865 Net income 23,537 23,537 Net income before other gains/(losses) Other gains and losses: Net movement in funds 23,537 23,537 23,537 23,537 Reconciliation of funds: Total funds brought forward Total funds carried forward 6,449 6,449 29,986 29,986 4 Income from donations and legacies Unrestrirted Total Total 2024 2023 60,842 60,842 60,842 60,842 55,402 55,402 5 Other expenditure Unrestricted Total Totsl 2024 2023 Employee costs Motor and travel costs 21,510 21,510 15,491 261 Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs 3,243 3,243 2,199 750 750 1,000 16,914 720 16,914 720 11,914 1,000 31,865 Legal and professional costs 43,137 43,137 Page 11
AL HAYAT TRUST Notes to the Accounts 6 Net income before transfers 2024 2023 This is stated after charging: Depreciation of owned fixed assets 7 Staff costs 750 2024 2023 Salaries and wages 21,510 21,510 15,491 15,491 No employee received emoluments in excess of £60,000. 8 Tangible fixed assets Cost or revaluation At l February 2023 At 31 January 2024 Depreciation and impairment At l February 2023 Depreciation charge for the year At 31 January 2024 Net book values 4,000 4,000 4,000 1,000 1,000 750 750 1,750 1,750 At 31 January 2024 At 31 January 2023 9 Movement In funds 2,250 3,000 2,250 3,000 Incoming resources At31 (including Atl other February gains/losses 2023 Resources expended January 2024 Restrlrted funds: Unrestrirted funds: General funds 29,986 60,842 (43,137) 47,691 Total funds 10 Analysis of net assets between funds 29,986 60,842 (43,137) 47,691 Unrestrirted funds Total Fixed assets 2,250 45,441 47,691 2,250 45,441 47,691 Net current assets Page 12
AL HAYAT TRUST Notes to the Accounts 11 Reconciliation of net debt Atl At31 January 2024 February 2023 Cash flows Cash and cash equivalents 26,986 26,986 18,455 18,455 45,441 45,441 Net debt 26,986 18,455 45,441 12 Related party disclosures Controlling party The company is limited by guarantee and has no share capital. thus no single party controls the company. Page 13
AL HAYAT TRUST Detailed Statement of Financial Activities for the year ended 31 January 2024 Unrestricted Total funds Total funds 2024 2023 2024 Income and endowments from: Donations and legacies 60,842 60,842 60,842 60,842 55,402 55,402 Totsl income and endowments 60,842 60,842 55,402 Expenditure on: Employee costs Salaries/wages 21,510 21,510 21,510 21,510 15,491 15,491 134 Vehicles - General costs Travel and subsistence 127 261 Premises costs Rent 250 250 Rates Light, heat and power Premises cleaning 765 765 577 1,954 274 1,954 274 1,570 52 3,243 3,243 2,199 General administrative costs, including depreciation and amortisation Depreciation of Bank charges Equipment expensed Equipment repairs and maintenance General insurances Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband 750 126 750 126 1,160 1,160 605 3,835 3,835 3,972 986 986 596 2,933 3,580 157 3,580 157 6,762 308 6,762 308 17,664 3,330 414 17,664 12,914 Legal and professional costs Other legal and professional costs 720 720 1,000 720 720 1,000 Total of expenditure of other costs Total expenditure Net gains on investments 43,137 43,137 31,865 43,137 43,137 31,865 Page 14
AL HAYAT TRUST Detailed Statement of Financial Activities Net income 17,705 17,705 23,537 Net income before other gains/(losses) Other Gains 17,705 17,705 23,537 Net movement in funds 17,705 17,705 23,537 Reconciliation of funds: Total funds brought forward 29,986 29,986 6,449 Total funds carried forward 47,691 47,691 29,986 Page 15