CHARITY REGISTRATION NUMBER: 1198760 COMPANY REGISTRATION NUMBER: 12716966
TALEEM FOUNDATION
Company Limited by Guarantee Unaudited Financial Statements 31 July 2024
TALEEM FOUNDATION
| Table of Contents | Page |
|---|---|
| Trustees’ Annual Report (incorporating the Directors’ report) | 3 |
| Independent examiner’s report to the trustees | 8 |
| Statement of financial activities (including income and expenditure account) | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 |
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TALEEM FOUNDATION
Trustees’ Annual Report (incorporating the Directors’ Report) for the year ended 31 July 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31[st] July 2024. The trustees have taken advantage of the small companies exemption from preparing a Strategic Report.
Reference and administrative details
Registered charity name: Taleem Foundation Charity registration number: 1198760 Company registration number: 12716966 Principal office and registered office: 21-23 Clarence Road, Grays, Essex, England, RM17 6QA
The Trustees: Abdul Bari Muhammad Sami Sanaullah Md Azizur Rob Chowdhury Saif Quader Md Omar Faruque Sarker Company Secretary: Muhammad Sami Sanaullah Independent examiner: Meer Julhas and Co 37 Green St, London, E7 8DA
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TALEEM FOUNDATION
Trustees’ Annual Report (Incorporating the Directors’ Report) for the year ended 31 July 2024 (continued)
Structure, governance and management
Governing Document
The Charity is constituted as a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association incorporated 3 July 2020 as amended by special resolutions dated: 19 December 2021; 20 April 2022; and 4 May 2024.
Organizational structure
The directors of the company are also charity trustees for the purposes of charity law. The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or financial benefits. The trustees meet together on a regular basis and are responsible for the strategic direction of the charity. The day-to-day management of the charity is overseen by the chief executive officer, staff members and volunteers.
Recruitment and Appointment of trustees
The existing trustees are responsible for the recruitment and appointment of new trustees with input from advisors, community elders and leaders. The trustees believe that this approach ensures that new trustees are respected members of the local community and are widely recognized as being suitably qualified to lead the charity. In selecting new trustees, we seek to identify people who regularly attend events and functions organized by the charity and are willing to volunteer to advance the charity’s objectives. We take into consideration the person’s eligibility, personal competence, specialist knowledge and skills.
Induction and training of trustees
Following appointment, new trustees are introduced to their new role and given copies of the Memorandum and Articles of Association and a guide to the policies and procedures adopted by our charity. A number of publications from the Charity Commission are also provided including the guidance on charities and public benefit and on the advancement of religion for the public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act.
Risk management
The trustees have conducted a review of the major risks to which the charity is exposed. A risk matrix has been established and is reviewed and updated on an annual basis. Where appropriate, systems or procedures have been established to mitigate the risk the charity faces. In particular, the trustees have ensured that the appropriate insurance cover is in place, health and safety procedures are implemented, financial forecasts are regularly reviewed, and DBS checks are made for any staff members working with children or other vulnerable groups.
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TALEEM FOUNDATION
Trustees’ Annual Report (Incorporating the Directors’ Report) for the year ended 31 July 2024 (continued)
Objectives and activities
The objects and principal activities of the charity are set out in the charity’s Memorandum of Association and are summarized as follows:
- The charity's objects ('object') are for the public benefit: 4.1 to advance in life and relieve the needs of children and young people aged up to 25 with a focus on those who are socially and economically disadvantaged through: 4.1.1 providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals; 4.1.2 advancing education through the provision of low-cost supplementary education and educational support. 4.2 the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve the conditions of life of the wider community. 4.3 to advance the Islamic faith in particular but not exclusively for those members of the public who are Muslims through: 4.3.1 the provision of facilities for worship, prayer and the celebration of Islamic religious festivals; 4.3.2 fostering understanding and promoting good relations between persons of all faiths or none.
In determining the means by which the charity achieves its objects, the trustees have had regard to the guidance on public benefit issued by the Charity Commission.
Use of volunteers
Volunteers are an important resource in both our faith and community work. We encourage all beneficiaries of our services to be involved in voluntary activities and to share their skills. All of our volunteers give their time freely, as do the trustees.
Achievements and performance
Our Mosque provides a centre for our prayers and worship and for the activities associated with our faith. During the year under review, we offered a range of religious services and activities including:
Prayers: The Mosque remains open throughout the day for both daily and Friday prayers. On average, over 100 individuals attend the daily prayers during the week, while Friday prayers see regular attendance from more than 400 worshippers. The Mosque also hosted special evening prayers during Ramadan and Eid Prayers.
Festivals: During Ramadan, the Mosque provides meals for those who wish to break their fast together in a communal and spiritual environment. Eid was also joyfully celebrated at the Mosque, marked by a family day and a shared meal for all attendees.
Over-40s Social: We host a weekly session specifically for adults over the age of 40. These gatherings offer a safe and welcoming space for community members to connect, engage in meaningful conversations, and raise any concerns with our religious leaders and staff.
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TALEEM FOUNDATION
Community Events: Throughout the year, we organise a variety of events open to the wider public. These include Mosque Open Days, where visitors are encouraged to ask questions, learn about Islam, and explore ways to foster community cohesion. We also host Family Fundays, designed to provide a fun, inclusive atmosphere for all ages. These events are free of charge to ensure accessibility for everyone.
Counselling Support: There has been a growing demand for counselling services within the community. In response, we provide free, confidential support through professional external counsellors. This vital service has helped many individuals access the emotional and mental health support they need.
Improving Soft Skills: We offer a unique programme in Thurrock that focuses on developing soft skills through regular discussion sessions. Attendees are invited to debate on various topics, which has helped many improve their confidence, communication, and interpersonal skills. These sessions are especially valuable for those for whom English is not a first language, offering a practical and engaging way to enhance fluency.
Women’s Events: We run separate events tailored to both young adult women and older female participants. These sessions are interactive, educational, and empowering, featuring guest speakers and covering a range of topics relevant to women's lives. The focus remains on building confidence, fostering learning, and supporting personal development.
Fitness Sessions: We organise walking hikes open to all adults in the community. These outings provide a refreshing and natural environment that supports both physical and mental wellbeing.
Financial review
Reserves policy
The trustees aim to hold enough funds to meet two months’ operating costs of the charity, in order to meet any unforeseen expenditure that may occur. The trustees noted that there was cash at bank of £316,087. The trustees acknowledged that the charity was still in a nascent phase and more effort is required to build regular and diversified income streams, and funds would need to be raised to purchase the premises.
Principal funding sources
The charity’s main source of income is public donations. This is primarily obtained through fundraising events and recurring monthly donations. The charity is registered for gift aid. The charity did not receive any grants during the year. The majority of the income is applied against rental expenses and staff costs.
Investment policy and objectives
The charity has no long-term investments. All funds are held in current or savings accounts under reputable high street banks. Any cash donations are promptly counted and deposited on a regular basis.
Plans for the future
The trustees will continue to explore ways to purchase the premises and increase the number of activities offered by the charity in a financially sustainable manner.
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TALEEM FOUNDATION
Trustees’ Annual Report (Incorporating the Directors’ Report) for the year ended 31 July 2024 (continued)
Statement of Trustees’ responsibilities
The trustees (who are also directors of Taleem Foundation for the purposes of company law) 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).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 SORP (FRS102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is not appropriate to assume that the charitable company will continue in operation.
The Board of Trustees is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company, and to enable them to ensure that the financial statements comply with Companies Act 2006. They are also responsible for safeguarding the assets of the company and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees' Annual Report was approved by the Board of Trustees (in their capacity as company directors) on 03 March 2025 and signed on its behalf by:
Saif Quader Trustee
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TALEEM FOUNDATION
Independent Examiner’s Report to the Trustees of Taleem Foundation (the Company) for the year ended 31 July 2024
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and 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.
Signed:
Name: Meer Julhas Hossain (FCCA, FAIA) Meer Julhas & Co. Address: 37 Green St, London, E7 8DA Date: 03 March 2025
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TALEEM FOUNDATION
Statement of Financial Activities for the year ended 31 July 2024
| Incoming resources General donations including gift aid Rent and hall hire Grant Income Total incoming resources Resources expended Staff costs including employer’s NIC Rent expense Facility expenses and utilities Business rates Insurance Telephone and internet Legal and professional Accounting Event costs (venue hire, catering, speakers, marketing etc.) Depreciation of fixed assets Supplies and postage Bank charges and other administrative Total resources expended Net Income/(Deficit) Total Funds brought forward Total Funds |
Unrestricted funds Restricted Funds Total Funds 2024 £ £ £ 179,268 204,314 383,582 4,000 - 4,000 - - - 183,268 204,314 387,582 52,734 - 52,734 38,180 - 38,180 8,490 - 8,490 2,758 - 2,758 1,247 - 1,247 519 - 519 3,690 - 3,690 716 - 716 30,409 - 30,409 5,278 - 5,278 3,776 - 3,776 1,727 - 1,727 |
Total Funds 2023 £ 92,627 16,800 - |
|---|---|---|
| 109,427 19,594 36,690 5,307 1,584 1,615 566 2,322 600 9,255 2,219 2,846 4,432 |
||
| 149,524 - 149,524 |
87,030 | |
| 33,744 204,314 238,058 |
22,397 | |
| 7,176 - 7,176 40,920 204,314 245,234 |
(15,221) 7,176 |
The statement of financial activities includes all gains and losses recognized in the year. All income and expenditure derive from continuing activities.
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TALEEM FOUNDATION
Balance Sheet as at 31 July 2024
| 2024 Notes £ FIXED ASSETS Fixtures, fittings and equipment 4 27,025 CURRENT ASSETS Debtors Amounts falling due within one year 5 - Amounts falling due after one year 5 14,500 Cash at bank and in hand 316,087 330,587 CREDITORS:amounts falling due within one year 6 (112,378) NET CURRENT ASSETS (LIABILITIES) 218,209 TOTAL ASSETS LESS CURRENT LIABILITIES 245,234 NET ASSETS 245,234 FUNDS OF THE CHARITY Unrestricted funds 7 40,920 Restricted funds 7 204,314 Total funds 245,234 |
2023 £ 12,448 |
|---|---|
| - 14,500 4,096 |
|
| 18,596 (23,868) |
|
| (5,272) | |
| 7,176 | |
| 7,176 | |
| 7,176 - 7,176 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act in respect to accounting records and for the preparation of the accounts.
Approved by the trustees on date and signed on their behalf by:
Saif Quader Trustee
Approved: 03 March 2025
Charity no.: 1198760 Company no.: 12716966
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TALEEM FOUNDATION
Notes to the financial statements
1. Accounting Policies
1.1 Basis of preparation of accounts
The charitable company is a public benefit entity as defined by FRS 102, and the financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (Charities SORP (FRS 102)), and the Companies Act 2006.
The financial statements are prepared on a going concern basis under the historic cost convention. The financial statements are prepared in pound sterling which is the functional currency of the charity. The charity is not large enough to require a Statement of Cash Flows.
The principal accounting policies applied in the preparation of these financial statements are set out below.
1.2 Going concern
The trustees have reviewed cashflow forecasts and have a reasonable expectation that the charity has adequate resources to continue for the foreseeable future, being twelve months from the approval of the financial statements. The financial statements have therefore been prepared on a going concern basis.
1.3 Fund accounting
Unrestricted funds comprise those funds which the trustees are free to use for any purposes in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activity (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific policies are applied to particular categories of income: Income from donations or grants is recognized when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Rental income is recognized when the charity’s right to receive payment is established.
1.5 Resources expended
All expenditure is accounted for on an accruals basis within the Statement of Financial Activity (SoFA), and has been classified under headings that aggregate all costs related to that category. Expenditure is recognized once there is a legal or constructive obligation to make payments to a third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Input VAT that cannot be claimed is included in the cost to which it relates. Rentals payable and lease incentives under operating leases are charged to the SoFA on a straight-line basis over the lease term.
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TALEEM FOUNDATION
Notes to the financial statements (continued)
1.6 Tangible fixed assets and depreciation
Individual fixed assets costing £500 or more are capitalized at cost, and are stated in the accounts at cost less depreciation. Depreciation is calculated to write off the cost less their estimated residual value, over their expected useful lives as follows:
Furniture, fixtures and fittings (5 years)
1.7 Cash at bank and in hand
All highly liquid instruments with an original maturity of three months or less are classified as cash equivalents.
1.8 Debtors
Short- and long-term debtors are measured at transaction price, less any impairment. Prepayments are valued at the amount prepaid net of any discounts due.
1.9 Creditors
Short term trade creditors are measured at the transaction price. Accruals are valued at the net cost, less any discounts offered.
1.10 Loans and borrowings
Loans and borrowings are initially recognized at the transaction price, including transaction costs. Private loans or Qard Hasanah are interest free loans from the charity’s beneficiaries and are recognized when received/paid and recorded under liabilities due within one year and/or more than one year, depending on the underlying contract. FRS102 requires long-term interest free loans to be stated at their present value. Effectively this would lead to loan amounts stated in the accounts being lower than the actual amounts payable in the future. This has the potential to confuse the charity’s stakeholders, and as such the trustees have opted not to follow FRS102 treatment for these loans.
1.11 Provisions
Provisions are recognized when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably measured.
1.12 Taxation
The charity is an exempt charity with the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.13 Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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TALEEM FOUNDATION
Notes to the financial statements (continued)
2. Legal status of the charity
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 for each member of the charity.
3. Staff Costs
| 3. Staff Costs | ||
|---|---|---|
| Wages and salaries Social security costs Average number of employees Employees paid in excess of £60,000 |
2024 £ 52,734 - 52,734 4 - |
2023 £ 19,594 - |
| 19,594 | ||
| 4 - |
The trustees neither received nor waived any remuneration during the year (2023: £nil). The trustees did not have any expenses reimbursed during the year (2023: £nil). The charity does not operate any pension scheme for its employees.
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TALEEM FOUNDATION
Notes to the financial statements (continued)
4. Tangible Fixed Assets
| Cost: At 1 August 2023 Additions At 31 July 2024 Depreciation: At 1 August 2023 Charge for the year At 31 July 2024 Net book value: At 1 August 2023 At 31 July 2024 |
Fixtures, fittings and furniture Total £ £ 14,793 14,793 19,855 19,855 |
|---|---|
| 34,648 34,648 |
|
| 2,345 2,345 5,278 5,278 |
|
| 7,623 7,623 |
|
| 12,448 12,448 |
|
| 27,025 27,025 |
5. Debtors
| a) amounts falling due after one year Other debtors |
2024 £ 14,500 14,500 |
2023 £ 14,500 14,500 |
|---|---|---|
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TALEEM FOUNDATION
Notes to the financial statements (continued)
6. Creditors
| a) amounts falling due within one year Other taxation and social security Deferred income Private loans – Qard Hasanah Accruals |
2024 £ 6,729 - 101,299 4,350 112,378 |
2023 £ 339 800 21,779 950 23,868 |
|---|---|---|
7. Analysis of charitable funds
| Incoming | Resources | |||
|---|---|---|---|---|
| Analysis of fund movements | Balance b/fwd | resources | expended | Fund c/fwd |
| £ | £ | £ | £ | |
| Unrestricted general funds | 7,176 | 183,268 | (149,524) | 40,920 |
| Restricted funds | - | 204,314 | - | 204,314 |
| Total | 7,176 | 387,582 | (149,524) | 245,234 |
Restricted funds are to be used only for the purchase of the premises and associated legal and professional costs.
8. Analysis of net assets between funds
| Analysis of fund movements | Unrestricted funds | Restricted funds | Total as at July 2024 |
|---|---|---|---|
| £ | £ | £ | |
| Fixed assets | 27,025 | - | 27,025 |
| Current assets | 24,974 | 305,613 | 330,587 |
| Current liabilities | (11,079) | (101,299) | (112,378) |
| Total net assets | 40,920 | 204,314 | 245,234 |
9. Miscellaneous
The charity benefitted from work performed by volunteers. The entity did not engage in grant making activity during the year. The entity had no contingent liabilities as at 31 July 2024 (2023: nil). There are no significant events after the reporting period. Fees payable to the independent examiner for the year ended 31 July 2024 is £716 (2023: £600).
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