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2023-06-30-accounts

Charity number: 1195035 (England and Wales)

JGR College

Financial Statements

for the Year Ended 30 June 2023

1

JGR College

Contents of the Financial Statements

Page
Charity and Trustees information 3
Report of the Trustees 4
Statement of financial activities 5
Balance Sheet 6
Notes to the financial statements 7 - 11

2

JGR College

Charity and Trustees information

Charity number Registered office

Charity number: 1195035 (England and Wales) 101 Smithills Dean Road Bolton, BL1 6JZ

Trustee name Office Dates acted if not for whole year Khalidhusain Patel Chair Jul 2021 - current Mahamed Nizamuddin Alimusa Patel Trustee Jan 2023 - current Reezwan Husain Patel Trustee Jan 2023 - current Hamidhasan Gaurya Trustee Jan 2023 - current

Structure, governance and management

Type of governing document Constitution How the charity is constituted CIO (Charitable Incorporated Organisation) Trustee selection methods Appointed by board of trustees

Accountants

AccnTax Ltd 3 Westwell Gardens Bolton, BL1 3SE

Bankers

3

JGR College

Report of the Trustees

Objects of the charity

To advance the religion of Islam for the public benefit based upon the creed and principles of the Ahlus-Sunnah Wal Jamā’ah as outlined by Imām Abū Hanīfa al-Kūfī, Imām Abū Manṣūr al-Māturīdī and Imām Abū al-Ḥasan al-Ash’arī and further expounded by Imām Aḥmad Rīdā Khan Bareillvi;

To advance the education of the public in particular but not exclusively, by providing lectures, teaching, education and research, provision of library, holding prayer meetings, public celebration of religious festivals, producing and/or distributing literature, promoting publications, writings, discussions, gatherings, talks, and by any other means as the trustees shall in their discretion determine to enlighten others about the religion of Islam.

Main activities

None. (The organisation has been dormant during this reporting period and has undergone a change in the board of trustees and management structure).

Main achievements

None. (The organisation has been dormant during this reporting period and has undergone a change in the board of trustees and management structure).

Charity’s policy on reserves

The small reserve amount currently in the charity account is being used for the day-to-day expenses in keeping the charity active.

Funds materially in deficit

None

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s)

Position

Date

4

JGR College STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 June 2023

Note
Income
Donations
2
Other income
3
Total income
Expenditure
Charitable activities
Support costs
Total expenditure
4
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
Total
funds
funds
2023
02-July-2021 to
30-June-2022
£
£
£
£
-
-
-
3,557
-
-
-
27
-
-
-
3,584
-
-
-
-
358
-
358
255
358
-
358
255
358
-
-
358
-
3,329
-
-
-
-
358
-
-
358
-
3,329
5,145
-
5,145
1,816
4,787
-
4,787
5,145

All recognised gains and losses have been included in the Statement of Financial Activities and the amounts included are derived entirely from the continuing activities of the Foundation.

5

JGR College Balance Sheet AS AT 30 June 2023

Note
Current assets
Cash at bank & in hand
Debtors
9
Total current assets
Creditors: amounts falling due
within one year
10
Net current assets
Total net assets
Funds of the charity
Unrestricted funds
Restricted funds
Total charity funds		 Unrestricted
Restricted
Total
Total
funds
funds
2023
02-July-2021 to
30-June-2022
£
£
£
£
4,887.00
-
4,887.00
5,145.00
-
-
-
-
4,887.00
-
4,887.00
5,145.00
100.00
-
100.00
-
4,787.00
-
4,787.00
5,145.00
4,787.00
-
4,787.00
5,145.00
4,787.00
-
4,787.00
5,145.00
-
-
-
4,787.00
-
4,787.00
5,145.00

The financial statements were approved by Trustees and signed on their behalf by:

Khalidhusain Patel Chair

Date:

6

JGR College

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2023

1 Accounting policies

a) 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 1 January 2015) - (Charities SORP FRS 102) and the Charities Act 2011.

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 or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

All expenditure is inclusive of irrecoverable VAT.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance and governance costs which support the Trust's charitable activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

7

i) Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the statement of financial activities.

j) Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income for the year. Transaction costs are expensed as incurred.

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l) Cash at bank and in hand

Cash at bank and cash 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.

m) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

8

JGR College

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2023

2 Income from donations

Donations
3 Other income
Bank charges refund
4 Analysis of expenditure
Charitable activities:
Grants
Support costs:
Accountancy fees
Bank charges
Domain costs
Donation refunds		 Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
02-July-2021 to
30-June-2022
£
£
£
£
-
-
3,557
-
-
-
3,557
Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
02-July-2021 to
30-June-2022
£
£
£
£
-
-
-
27
-
-
-
27
Unrestricted
Restricted
Total
Total
funds
funds
2023
02-July-2021 to
30-June-2022
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100
-
100
-
84
-
84
-
174
-
174
255
-
-
-
-
-
-
-
-
358
-
358
255
358
-
358
255

9

JGR College NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2023

5 Grantmaking

The Trustees have exercised their right under section 132 of the Charities Act 2011.

6 Analysis of governance costs

Accountants' remuneration - accountancy fees 2023
02-July-2021 to
30-June-2022
£
£
100
-
100
-

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

No remuneration was paid to the Trustees for their services to the Foundation.

The charity trustees were not paid or received any other benefits from employment with the charity in the year neither were they reimbursed expenses during the year. No charity trustee received payment for professional or other services supplied to the charity.

There were no employees during the year.

8 Taxation

The charity is exempt from tax as all its income is charitable and is applied for charitable purposes.

9 Debtors

Other debtors
10 Creditors: amounts falling due within one year
Accruals		 2023
02-July-2021 to
30-June-2022
£
£
-
-
-
-
2023
02-July-2021 to
30-June-2022
£
£
100
-
100
-

10

JGR College

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2023

11 Creditors: amounts falling due after one year

Other creditors
12 Analysis of cash
Cash at bank and in hand
13 Movements in funds
Unrestricted funds
Restricted funds
Total funds		 2023
02-July-2021 to
30-June-2022
£
£
-
-
-
-
2023
02-July-2021 to
30-June-2022
£
£
4,887
5,145
4,887
5,145
At the start
Gains and
At the end
of the year
Income
Expenditure
Transfers
losses
of the year
£
£
£
£
£
£
5,145
-
358
-
-
4,787
-
-
-
-
-
-
5,145
-
358
-
-
4,787

11