Registered charity number 1194953
Al Quran Complex Welfare Trust
Trustee's Report and Unaudited Accounts
31 December 2023
Al Quran Complex Welfare Trust
CONTENTS
| Page | ||
|---|---|---|
| Legal and administrative information | 1 | |
| Trustee's report | 2-3 | |
| Statement of financial activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the financial statements | 6 | - 7 |
Al Quran Complex Welfare Trust
COMPANY INFORMATION
| Charity number | 1194953 |
|---|---|
| Registered Office | 27 Carr Road |
| Nelson | |
| BB9 7JS | |
| Trustees | Mr Mazhar Hussain |
| Hafiz Abdur Razzaq (appointed 7th June 2023) | |
| Muhammad Altaf (appointed 7th June 2023) | |
| Mr Jabbar Haq (resigned 7th June 2023) | |
| Mr Tariq Hussain (resigned 7th June 2023) |
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Al Quran Complex Welfare Trust
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023
The trustees present their report and the financial statements for the year ended 31 December 2023. The trustees who served during the year and upto the date of this report are set out on page 1.
Structure, governance and management
Al Quran Complex Welfare Trust is a charity incorprated as a CIO on 25th June 2021
The directors, who are the trustees in charity law are responsible for the overall management and control of the company working with other persons on an entirly voluntary basis.
Trustees are appointed in accordance with Al Quran Complex Welfare Trust constitution. Once appoint Trustees are given introduction of the charity and information about its objects, Trustees are also given the copy of the consititution and aims and objective, Role description are issued to each trustee and full induction is given setting out the obligations of a trustee. All trustees are issued with copies of the Charity Commission's guidance.
The trustees meet every 3 months.
The trustees actively review the major risk to which the charity is exposed to on a regular basis, in particular those relating to its operations and finances. The system is established to mitigate these.
Objectives and activities for the public benefit
The principal aims of the charity and objective of the charitable company are To advance the education of people in need in Pakistan for the benefit of the public, by the provision of financial aid and the provision of schools and colleges.
Achievement and performance
During the foucussed on fundraising to support the Quran Complex in Pakistan.
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Al Quran Complex Welfare Trust
REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2023
Financial Review
The charity relies on on voluntary income which is £12199 for the period ended 31 December 2023.
Plan for the future
We will continue with our core activities of supporting the Quran Complex in Pakistan.
Statement of trustee's responsibilities
The trustee are responsible for the preparing the Trustees' Annual Report and financial statements in accordance with applicable law and United Kingdom generally Accepted Accounting Standard.
In these financial statements, the trustees are required to:
Select suitable accounting policies and then apply then consistently; Observe the methods and principle in the Charities SORP;
Make judgement and estimates that are reasonable and purdent;
State whether applicable UK Accounting Statndard have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statement on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper 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 1993. They are also responsible for safeguarding the assets of the charitable trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board
Mazhar Hussain
Date: 14th August 2024
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Al Quran Complex Welfare Trust
STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 31 DECEMBER 2023
| STATEMENT OF FINANCIAL ACTIVITIES Notes Incoming Resources Incoming Resources from Generated Funds Donations Total Income Resources Resources Expanded Charitable Activites 2 Support Cost 3 Governance Cost 4 Total Resources Expended Reconcilation of Funds Net Income/(Outgoing) Resources Transfers between Funds Net Movement in Funds Total funds brought forward Total Funds carried forward |
Unrestricted Restricted Total Total Funds Funds 2023 2022 |
|---|---|
| 12,199 - 12,199 13,295 |
|
| 12,199 - 12,199 13,295 |
|
| - 2,500 2,500 8,040 2,788 2,788 197 300 300 360 |
|
| 3,088 2,500 5,588 8,597 |
|
| 9,111 2,500 - 6,611 4,698 2,500 - 2,500 - |
|
| 6,611 - 6,611 4,698 5,539 5,539 841 |
|
| 12,150 - 12,150 5,539 |
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Al Quran Complex Welfare Trust
BALANCE SHEET
AS AT 31 DECEMBER 2023
| Fixed assets Current assets Cash at bank Debtors Creditors: amount falling due within one year Net current assets (liabilites) Total assets less current liabilites Creditors: amount falling due after one year Net Assets Funds Unrestricted Funds Restricted Funds |
'2023 £ £ - 12,450 12,450 300 12,150 12,150 - 12,150 12,150 12,150 |
'2022 £ £ - 5,899 5,899 360 5,539 5,539 - 5,539 5,539 5,539 |
'2022 £ £ - 5,899 5,899 360 5,539 5,539 - 5,539 5,539 5,539 |
|---|---|---|---|
| 12,450 300 |
5,899 360 |
||
| 5,539 - |
|||
| 5,539 | |||
| 5,539 | |||
| 5,539 |
Approved by the Trustees on 14th August 2024 and signed by:
Mazhar Hussain
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Al Quran Complex Welfare Trust
NOTES TO THE ACCOUNTS FOR THE ENDED 31 DECEMBER 2023
1 Accounting policies
1.1 Basis of accounting
The financial statments are preapred under the historic cost convention and in accordance with the Financial Reporting statndards, the Statement of Recommended Practice 'Accounting and Reporting by Charities 'issued in March 2005 (SORP 2005) and the Charities Act 1993.
1.2 Funding accounting
Unrestricted funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity
Restricted funds are thise donated for use in a particular area or for specific purpose, the use of which is ristricted to that area or purpose.
1.3 Incoming resources
All incoming resources are included in the statement of financial activites when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
1.4 Resources expanded
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which can not fully recovered, and is reported as part of the expenditure to which it relates.
Goverance costs include those costs associated with meeting the consititutional and statutory requirements of the charity and costs linked to the strategic management of the charity.
1.5 Depreciation
Depreciation is calculated to write off the cost, less estimated residual values of tangible fixed assets over their estimated useful lives to the Charity. The annual depreciation rates and methods are as follows:-
Equipment - 4 years
2 Cost of charitable activites
| Grants payable | Unrestricted Restricted 2023 2022 Funds Funds Total Total £ £ - 2,500.00 2,500.00 8,040.00 |
|---|---|
| - 2,500.00 2,500.00 8,040.00 |
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Al Quran Complex Welfare Trust
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
| 3 Support cost Fundraising costs Telephone Bank Charges Rent Consultancy 4 Governance Costs Accounts Fees |
2023 2022 - - 48 136 - 61 640 - 2,100 - |
|---|---|
| 2788 197 |
|
| 2023 2022 300 360 |
|
| 300 360 |
5 Taxation
The charity's activities fall within the examptions afforded by the provisions of the income and Corporation Act 1988. Accordingly, there is no taxation charge in these accounts.
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