**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:
- Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
- • Expenditure on charitable activities includes the costs of delivering services to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
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