CHARITY REGISTRATION NUMBER 1197010 AL-HABEEB FOUNDATION
FINANCIAL STATEMENTS 31 DECEMBER 2023
AL-HABEEB FOUNDATION
FINANCIAL STATEMENTS PERIOD TO 31 DECEMBER 2023 CONTENTS PAGE
| Trustees Annual Report | 1-3 |
|---|---|
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes | 7-8 |
AL-HABEEB FOUNDATION
TRUSTEES ANNUAL REPORT PERIOD TO 31 DECEMBER 2023
The Trustees have pleasure in presenting their report and the unaudited financial statements of the Charity for the period to 31 DECEMBER 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name AL-HABEEB FOUNDATION
CHARITY REGISTRATION number 1200939
Registered office: 45 PROSPECT STREET, HUDDERSFIELD, HD1 2NX
THE Trustees
The Trustees who served the charity during the period were as follows:
USMAN ALI (resigned 31/10/2023) HABIB ULLAH MOHAMMED MUSTFA TAUQEER AHMED
Charity Accountants
Fusion Accounting Ltd 398A East Park Road, Leicester, LE5 5HH
STRUCTURE, GOVERNANCE AND MANAGEMENT
AL-HABEEB FOUNDATION is a charitable incorporated organisation (CIO) governed by its constitution dated 8[th] December 2021 and was registered with the Charity Commission on the 8[th] of December 2021.
OBJECTIVES AND ACTIVITIES
The objectives of the organisation, as set out in its governing document are:
(1) to relieve financial hardship among poor people and other people in need by means of, but not exclusively, making grants for providing or paying for items, equipment, services and facilities, including the provision of food, water and costs for medical treatment for the benefit of the said persons;
(2) to advance the religion of Islam by means of, but not exclusively, provision or assistance in the provision of facilities for Islamic education, in accordance with the teachings of the Quran and the teachings of Prophet Muhammad (pbuh) as interpreted and accepted by the AhleSunnah Wal-Jamaa-ah school of thought.
ACHIEVEMENTS AND PERFORMANCE
During the period the trustees delivered a Masjid building project resulting in 2 Masjids being completed in Pakistan and delivered financial hardship relief projects. Among these projects were the delivery of food packs monthly to over 400 poor families, 4 sewing machines to poor women to establish a livelihood and the installation of 100 clean water hand pumps benefitting over 300 families.
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AL.,HA EEB FOUNDATION - TRU ANNUAL R p RT (IWflllUflf l) P RIOD TO 31 DEC1EMB • R 2023
NEFIT STATEMENT
h tnJ t have considered the general guidance on public benefit Issued by the Charity CommIBHion nd h taken due regard of that guidance. The trustees consider that they are satMi'Jd fhtJf th"1 ' harity s activities do benefit the public as it is advancing Islam for public benefit and m�,,t1ng :Jr, identifiable need for those in financial hardship. The trustees have benefitted many indivldualz f.1WJ e. families and has helped them to fulfil their religious needs and basic necessities to sustain lif
FINANCIAL REVIEW
The trustees secured income of £64,466 during the period. The expenditure during the period was £64,975 of which £64,225 were grants for charitable projects. This genera1ed a deficit of £509 which was met with prior year surpluses. At the end of the period the charity held £1,340 in reserves before creditor payments and with creditor payments there were no reseNes held in the charity.
PLANS FOR FUTURE PERIODS
Future plans are to continue to deliver the financial relief projects to benefit the poor and needy.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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• observe the methods and principles in the Charities SGRP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material
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departures disclosed and explained in the financial statements;
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prepare the financial statements 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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVAL
The report was approved by the Trustees on 07/06/2024 and signed on their behalf by �w
Habib Ullah Chairman & Trustee
AL-HABEEB FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31st DECEMBER 2023.
Responsibilities and basis of report
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 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is sufficient for external scrutiny.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My 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 statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I 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 accounts to be reached.
M Suleman 07/06/2024 Principal Accountant Fusion Accounting Ltd, 398A East Park Road Leicester LE5 5HH
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AL-HABEEB FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (SOFA) PERIOD TO 31 DECEMBER 2023
| Total Funds | Total Funds | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Period to | Total | |||
| Funds |
Funds | 31 | Dec 23 | 31 Dec 22 | ||
| Note | £ | £ | £ | £ | ||
| INCOME from | ||||||
| donations and legacies | 64,466 | - | 64,466 | 10,449 | ||
| charitable activities | ||||||
| other trading activity | ||||||
| Investment income | ||||||
| Other income | ||||||
| Total | 64,466 | - | 64,466 | 10,449 | ||
| EXPENDITURE | ||||||
| on raising funds | - | - | - | - | ||
| charitable activities | 64,975 | - | 64,975 | 9,950 | ||
| other expenditure | - | - | - | - | ||
| Total | 64,975 | - | 64,975 | 9,950 | ||
| Net Income before Tax | (509) | - | (509) | 499 | ||
| Tax payable | - | - | ||||
| Net income after Tax | (509) | - | (509) | 499 | ||
| Net gains/losses on assets | ||||||
NET INCOME |
(509) | - | (509) | 499 | ||
| Transfers between funds | ||||||
| - | - | - | - | |||
| Net movement in funds | ||||||
| - | - | - | - | |||
| Reconciliation of funds | ||||||
| Total funds brought forward | 499 | - | 499 | - | ||
| Total funds carried | (10) | - | (10) | 499 | ||
| forward |
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A tlAA I N tlAL AN P RI 1
| A P |
tlAA tlAL AN RI 1 |
I N | |||
|---|---|---|---|---|---|
| ot Iund | |||||
| Unre.s,trlcted | Re trlcted | Period to | Toi I | ||
| Funds | Funds | 31 Dec 23 | 31De�22 | ||
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible fixed assets | |||||
| CURRENT ASS TS | |||||
| Cash in hand and bank | 1,340 | 1,340 | 1.099 | ||
| Total | 1,340 | 1,340 | 1,099 | ||
| LIABILITIES | |||||
| Creditors fall,ing due within | 4 | 1,350 | 1,350 | 600 | |
| one year | |||||
| Net current assets | (10) | 499 | |||
| Total assets less current liabilities |
(10) | 499 | |||
| Total Net As ets | (10) | 499 | |||
| The funds of the charity | |||||
| Unrestricted funds Restricted funds |
(10) | 499 | |||
| Tota,I | (10) | 499 |
These accounts were approved by the Trustees on 07/06/2024 and signed on their behaff by
Habib Ullah Chairman & Trustee
AL-HABEEB FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS PERIOD TO 31 DECEMBER 2023
1. ACCOUNTING POLICIES
a) Basis of accounting
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The new accounting policies are relevant to the size and nature of the charity's income for the period.
The change in accounting policy has only resulted in minor non-material differences arising. As such no requirement to restate prior or current year figures has arisen.
The charity constitutes a public benefit entity as defined by FRS 102.
b) Fund accounting
Unrestricted funds are general funds that are available for use at the trustees' discretion in furtherance of any of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose and the restriction means that the funds can only be used for specific projects or activities.
c) Incoming resources
Voluntary income, including donations, gifts and legacies and grants that provide core funding or are of a general nature, are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding to support programme activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
d) Resources expended
Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being an unavoidable commitment.
Costs of raising funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
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AL-HABEEB FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued) PERIOD TO 31 DECEMBER 2023
2. Staff Disclosures
There were no staff employed by the organisation during the year. No staff received remuneration above £60,000 during the period.
3. LIABILITIES: Amounts falling due within one year
| £ | |
|---|---|
| Trade creditors | |
| Accountancy & Examination Fees for 2022 600 | |
| Accountancy & Examination Fees for 2023 750 | |
| ===== | |
| TOTAL | 1,350 |
4. CONNECTED PARTY TRANSACTIONS
There were no payments made to trustees or connected person during the period.
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