REGISTERED CHARITY NUMBER: 1199617
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
AL MUS'AB FOUNDATION
Owadally & King Chartered Certified Accountants 73 Park Lane Croydon Surrey CR0 1JG
AL MUS'AB FOUNDATION
Contents of the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
AL MUS'AB FOUNDATION
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1199617
Principal address
8 Smock Walk Croydon CR0 2UP
Trustees
M U Vohra M R Vohra
Independent Examiner
Owadally & King Chartered Certified Accountants 73 Park Lane Croydon Surrey CR0 1JG
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... M U Vohra - Trustee
Page 1
Independent Examiner's Report to the Trustees of Al Mus'ab Foundation
Independent examiner's report to the trustees of Al Mus'ab Foundation
I report to the charity trustees on my examination of the accounts of Al Mus'ab Foundation (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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 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.
Owadally and King
Owadally & King Chartered Certified Accountants 73 Park Lane Croydon Surrey CR0 1JG
Date: .............................................
Page 2
AL MUS'AB FOUNDATION
Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 84,289 EXPENDITURE ON Raising funds 5,500 Other 68,608 Total 74,108 NET INCOME 10,181 RECONCILIATION OF FUNDS Total funds brought forward 6,773 TOTAL FUNDS CARRIED FORWARD 16,954 |
2023 Total funds £ 56,807 |
|---|---|
| 35,475 14,559 |
|
| 50,034 | |
| 6,773 - |
|
| 6,773 |
The notes form part of these financial statements
Page 3
AL MUS'AB FOUNDATION
Balance Sheet 31 DECEMBER 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 19,354 CREDITORS Amounts falling due within one year 4 (2,400) NET CURRENT ASSETS 16,954 TOTAL ASSETS LESS CURRENT LIABILITIES 16,954 NET ASSETS 16,954 FUNDS 5 Unrestricted funds 16,954 TOTAL FUNDS 16,954 |
2023 Total funds £ 7,973 (1,200) 6,773 6,773 6,773 6,773 6,773 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M U Vohra - Trustee
The notes form part of these financial statements
Page 4
AL MUS'AB FOUNDATION
Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Page 5
continued...
AL MUS'AB FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||||
|---|---|---|---|---|---|
| fund | |||||
| £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 56,807 | ||||
| EXPENDITURE ON | |||||
| Raising funds | 35,475 | ||||
| Other | 14,559 | ||||
| Total | 50,034 | ||||
| NET INCOME | 6,773 | ||||
| TOTAL FUNDS CARRIED FORWARD | 6,773 | ||||
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other creditors | 2,400 | 1,200 | |||
| 5. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 6,773 | 10,181 | 16,954 | ||
| TOTAL FUNDS | 6,773 | 10,181 | 16,954 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 84,289 | (74,108) | 10,181 | ||
| TOTAL FUNDS | 84,289 | (74,108) | 10,181 |
Page 6
continued...
AL MUS'AB FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| in funds | 31.12.23 | |
| £ | £ | |
| Unrestricted funds | ||
| General fund | 6,773 | 6,773 |
| TOTAL FUNDS | 6,773 | 6,773 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 56,807 | (50,034) | 6,773 |
| TOTAL FUNDS | 56,807 | (50,034) | 6,773 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.23 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | 16,954 | 16,954 |
| TOTAL FUNDS | - | 16,954 | 16,954 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 141,096 | (124,142) | 16,954 |
| TOTAL FUNDS | 141,096 | (124,142) | 16,954 |
continued...
Page 7
AL MUS'AB FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 8
AL MUS'AB FOUNDATION
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 84,289 | 56,807 |
| Total incoming resources | 84,289 | 56,807 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Other direct cost | 5,500 | 35,475 |
| Support costs | ||
| Other 2 | ||
| Donations | 67,408 | 13,359 |
| Governance costs | ||
| Accountancy and legal fees | 1,200 | 1,200 |
| Total resources expended | 74,108 | 50,034 |
| Net income | 10,181 | 6,773 |
This page does not form part of the statutory financial statements
Page 9