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2023-11-16-accounts

IQRA WELFARE ASSOCIATION

TRUSTEES' REPORT AND ACCOUNTS

For The Year Ended 16th November 2023

Charity Number: 1197747

IQRA WELFARE ASSOCIATION Charity Number: 1197747

Contents

Page
Charity Information 2
Report of the Trustees 3 to 5
Report of the Independent Examiner 6
Statement of Financial Activities 7
Balance sheet 8
Notes to the Financial Statements 9 to 10

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Page#1

IQRA WELFARE ASSOCIATION

Charity Information

Trustees: Mohammed Shirajul Islam Chair Mohammed Nazmul Abedin Trustee Mohammed Abdul Rup Ali Trustee

Charity number: 1197747 Principal Office: 5 TENNYSON ROAD HOUNSLOW TW3 4AN Accountant: MSA & CO ACCOUNTANCY LTD 31 PIRTON ROAD LUTON BEDFORDSHIRE LU4 9HX Bank: Barclays Bank Plc

Page#2

IQRA WELFARE ASSOCIATION Report of the Trustees for the year ended 16 November 2023

Iqra welfare association is a new established charity which was registered in February 2022 to prevent or relieve poverty in Bangladesh by helping the poor needy children/young, elderly/old people, people with disabilities and to the general public/mankind who does not have enough resources and support. With the kind donation and support of the trustees, members/volunteers and well-wishers, Iqra welfare association has started some projects to fulfil the basic needs of the poor, homeless, disadvantaged and needy people. Here are some brief description and evidence of our projects:

NEW BUILDING AND CLASSROOMS:

New building for deprived children: We built a new building which has two rooms, one study room, one bedroom, and one kitchen where students can study and live as well. Iqra has six classes in different places in Kulaura (Sylhet division) in Bangladesh where we teach morning and afternoon basic IT and English languages including the religious studies. Our teachers are committed to maintain the teaching quality and follow the methodology set by the charity and they are happy to get training as well as happy to learn with the new curriculum.

We keep progress reports and hold regular parents/guardian meetings in order to keep them updated with the progress of these education centers.

Page#3

WIDOW'S HOUSE:

House for homeless widow: Iqra Welfare Association is building houses for disadvantaged families including widows and orphans. It has already built 6 twobedroom houses with one kitchen and bathroom for 6 families so far. Picture attached for a widow's house and has handed over the key to the family.

REGULAR FOOD PACKS:

Feed the Hunger Project: Iqra provides food packets for needy people in the area regularly. In the fasting month of Ramadan, we provided Ramadan meals for poor people. Our volunteers are giving food packs to widows and orphan families.

Page#4

WATER FOR DRINKING AND WASHING UP:

Water Project for school pupils: Pure water is very important for health wellbeing. As Bangladesh has a huge pure water problem that’s why Iqra has initiated to build some water pumps in a few areas where all needy school pupils got the facility from the water pumps.

Page#5

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS OF

IQRA WELFARE ASSOCIATION FOR THE YEAR ENDED 16 November 2023

Charity no.: 1197747

I have examined the accounts on pages 8 to 11, which have been prepared on the basis of accounting policies set out on page 10.

Respective responsibilities of trustees and examiner:

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 145 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

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 matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:  to keep accounting records in accordance with section 130 of the Charities Act; and

  2. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

  3. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mohammad Sarwar Alam , AFA MIPA

MSA & Co Accountancy Ltd 31 Pirton Road Luton LU4 9HX

11 September 2024

Page#6

IQRA WELFARE ASSOCIATION Income and Expendature Account

For The Year Ended 16th November 2023

Notes
Incoming Resources
Voluntary donations
Resources Expended
Staff cost
Hall hire
Fundraising events
Insurance
Teachers remuneration
Legal fee
Heating & Lighting
Repairs, Renewal & Cleaning
Printing & Stationery
Advertising, Website
Travelling
Food & Refreshment
Telephone, Fax and Internet
Accountancy
Bank
charges
Sundry expenses
Donations
Net Income for the year
Reconciliation of Funds:
Total funds, brought forward
Total funds, carried forward		 Unrestricted
Funds
£
21,971
21,971
-
-
-
-
-
-
-
-
335
245
-
-
-
300
62
300
16,220
17,462
4,509
8,131
12,640		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022-
2023
£
21,971
21,971
-
-
-
-
-
-
-
-
335
245
-
-
-
300
62
300
16,220
17,462
4,509
8,131
12,640		 2021-
2022
£
13,207
13,207
-
-
-
-
-
-
-
-
171
-
-
-
-
300
20
35
4,550
5,076
8,131
8,131
16,262

IQRA WELFARE ASSOCIATION

Page#7

BALANCE SHEET AS AT 16 NOVEMBER 2023

Notes
Fixed Assets
The charity has no fixed asset.
Current Assets
Debtors & prepayment
Cash in hand and at Bank
Creditors
Amounts falling due within one year
1
Net Current Assets
Net Assets
Total Funds of the Charity
Unrestricted funds		 £ 2023
£
-




12,640
12,640
12,640
12,640		 £ 2022
£
-
12,940		 -
8,431		 -




8,131
12,940
300		 8,431
300
8,131
8,131
8,131

These Accounts were approved by the Board of Trustees on 11th September 2024.

............................................... ................................................
Mohammed Shirajul Islam Mohammed Nazmul Abedin
Chair of the Board of Trustees Trustee

The notes on pages 10 form part of these accounts

Page#8

IQRA WELFARE ASSOCIATION Notes to the Accounts For The Year Ended 16th November 2023

1. Accounting Policies

1.1 Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the applicable Accounting Standards, the Statement of Recommended Practice “Accounting and Reporting by Charities” published in March 2005. The principal accounting policies adopted in the preparation of the financial statements are set out below.

1.2 Incoming Resources

Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors’ conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.

1.3 Resources Expended

Resources expended are included in the Statement of Financial Activities on accruals basis, excluded of VAT where applicable.

Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.

1.4 Going Concern Basis

The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate.

Page#9

IQRA WELFARE ASSOCIATION Notes to the Accounts For The Year Ended 16th November 2023

1. Creditors: amounts falling due within one year
Independent Examiner's fee		 2023
£
300
300

2. Trustees' Remuneration

None of the trustees were remunerated.

Page#10