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2023-12-31-accounts

Al-Ihsaan Foundation

Report and Financial Statements For the Period Ended 31 December 2023 Charity Number: 1200365

STONEBRIDGE ACCOUNTANTS 19A CHORLEY OLD ROAD LANCASHIRE BOLTON BL1 3AD

Al-Ihsaan Foundation

Contents Summary

For The Period Ending 31 December 2023

Contents Page
Legal and administration information 3
Report of the trustees 4 - 6
Report of the independent examiner 7
Statement of financial activities 8
Balance sheet 9
Notes forming part of the financial statements 10-14

2

Al-Ihsaan Foundation

Legal and Administration Information

For The Year Ending 31 August 2023

Trustees
Name Office Appointed Resigned
Ziyaul Haque Patel Chair of Trustees 13/09/2022
Syed Kabir Uddin Trustee 13/09/2022
Maaz Gulamnabi Trustee 13/09/2022

Independent Examiner

Stonebridge Accountants & Business Advisors 19A Chorley Old Road Bolton Lancashire BL1 3AD

3

Al-Ihsaan Foundation

Report of the Trustees

For The Period Ending 31 December 2023

Report of the Trustees for the year ended 31 December 2023

Assalamaulaikum Warahmatullahe Wabarakatu

The trustees present their report along with the financial statement for the charity for the year ended 31 August 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 10 and comply with the charity’s constitution and applicable law.

Constitution and charitable objects

The charity is constituted under a 1996 constitution and registered with The Charity Commissioners under charity number 1200365 in 2022.

The objects of the foundation shall be primarily for the benefit of the residents of Leicester and the neighbourhood thereof by the advancement in the understanding of the Islamic religion, particularly but not exclusively by encouraging the establishing and maintenance of a community centre and pursuing the improved delivery of their services to the public, the promotion of racial and religious harmony between Muslims and non-Muslims in order to foster mutual understanding and toleration. To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have a need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. To Establishing an Islamic community organisation and to maintain and manage the same, (whether alone, or in co-operation with any local authority or other persons or body) in enhancement of the above objects. The promotion of such other charitable purposes particular for the benefit of the Muslim Community as the trustees think fit.

The charity is entirely run by volunteers and members offer their services to deliver the charitable objectives.

Since our last AGM, the foundation has continued to make steady progress by the grace of the Almighty God.

Principle policies to achieve objectives

The trustees shall raise and promote issues to the statutory authority bodies and any other organisation necessary in order to advance and achieve the objectives of the charity.

Activities and Achievements

We would like to take this opportunity to inform you of some of our achievements that were made during the past year and also share with you a glimpse of the future.

4

Al-Ihsaan Foundation

Report of the Trustees

For The Period Ending 31 December 2023

Key Priorities for 2022/2023 were to:

Charity Assets

The assets of the charity consist of the cost of improving the rented offices of the foundation and also the furniture and equipment used in the offices.

Risk Management

The current account funds are held with a leading bank to minimise disruption to activities and reduce risk.

All investment decisions are made to achieve a reasonable return from acceptable sources according to Islamic Jurisprudence whilst minimising the risk.

Reserve Policy and Future Plans

At the year end the Trust held enough funds or provision for funds to pay for its expenses for the year. The charity is constantly looking at other grants to employ more people for specific projects.

5

Al-Ihsaan Foundation

Report of the Trustees

For The Period Ending 31 December 2023

Statement of the Trustees' Financial Responsibilities

The Trustees are responsible for preparing the Trustees’ 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 Al-Ihsaan Foundation and its incoming resources and application of resources of the charity for the period. In preparing the financial statements, the trustees are required:

The Trustees are responsible for keeping sufficient 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 2022, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitutions. They 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.

Aamin Summa Aamin. Waalaykum Warahmatullahe Wabarakatu

Approved by the Trustees of Al-Ihsaan Foundation and signed on its behalf by:

Ziyaul Haque Patel Maaz Gulamnabi (Chairman) (Trustee) Date: 01 November 2024

6

Al-Ihsaan Foundation

Independent Examiner's Report to the Al-Ihsaan Foundation.

We report on the accounts of the Trust for the period ended 31 December 2023 which are set out on pages 8 to 14.

Respective responsibilities of the Trustees and Independent 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 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is our responsibility to:

Basis of Independent Examiner's Report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners.

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 you as Trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion or otherwise 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 our examination, no matter has come to our attention:

  1. Which gives us reasonable cause to believe that, in any material respect, the requirements:

(a) to keep accounting records in accordance with section 130 of the 2011 Act; and

(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or

  1. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

__________ Honorary Independent Examiner

Faruk Patel FFA FTA Stonebridge Accountants 19a Chorley Old Road Bolton BL1 3AD

7

Al-Ihsaan Foundation

Statement of Financial Activities

For The Period Ending 31 December 2023

Notes
Incoming resources
Incoming resources from generated funds
3
Donations Received
Gift Aid
Incoming resources from charitable activities
4
Other incoming resources
Total incoming resources
Resources expended
Charitable Activities
5
Support Costs
6
Total resources expended
Net Movement in Funds
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Restricted
income funds
£
621,247
119,122
-
-
740,369
-
25,534
25,534
714,835
-
714,835		 2023
Total
£
621,247
119,122
-
-
740,369
-
25,534
25,534
714,835
-
714,835		 2022
Total
£
-
-
-
-
-
-
-
-
-
-
-

8

Al-Ihsaan Foundation

Balance Sheet as at 31 December 2023

Notes
Fixed Assets
Tangible assets
9
Investments
10
Total Fixed Assets
Current Assets
Debtors and Prepayments
11
Cash at bank and in hand
Total Current Assets
Creditors: amounts falling due within one year
12
Net Current Assets
Net Assets
Funds of the Charity
Restricted funds
Unrestricted funds
Total Funds		 Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Restricted
income funds
£
-
1,100,000
1,100,000
9,750
985
10,735
395,900
(385,165)
714,835
714,835
-
714,835		 2023
Total
£
-
1,100,000
1,100,000
9,750
985
10,735
395,900
(385,165)
714,835
714,835
-
714,835		 2022
Total
£
-
-
-
-
-
-
-
-
-
-
-
-

Signed by two of the trustees on behalf of all the trustees on

Ziyaul Haque Patel Maaz Gulamnabi 01 November 2024 01 November 2024

9

Al-Ihsaan Foundation

Notes forming part of the Financial Statements

For The Period Ending 31 December 2023

1. Principal Accounting Policies

(a) Basis of accounting These accounts have been prepared on the basis of historical cost (except that investments are shown at market value) in accordance with Accounting Standards and with the Charities Act 2011.

(b) Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year. (c) Changes to previous accounts

No changes have been made to accounts for previous years.

**2. ** Accounting policies
INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources - the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
- the monetary value can be measured with sufficient reliably.
Incoming resources with Where incoming resources have related expenditure (as with fund raising or contract
related expenditure income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional
entitlement to the resources.
Tax reclaims on Incoming resources from tax reclaims are included in the SoFA at the same time as the
donations and gifts gift to which they relate.
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or
the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold
or distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources
when receivable.
Donated services and These are only included in incoming resources (with an equivalent amount in resources
facilities expended) where the benefit to the charity is reasonably quantifiable, measurable and
material. The value placed on these resources is the estimated value to the charity of the
service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described
in the trustees' annual report.
Investment income This is included in the accounts when receivable.
Investment gains and This includes any gain or loss on the sale of investments and any gain or loss resulting
losses from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation
committing the charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of
trustee meetings and cost of any legal advice to trustees on governance or constitutional
matters.
Support costs Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, e.g. allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for These are capitalised if they can be used for more than one year, and cost at least £250.
use by charity They are valued at cost or, if gifted, at the value to the charity on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the
year end. Other investment assets are included at trustees' best estimate of market value.
Depreciation Tangible assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost less estimated residual value of each asset over its
expected useful life, as follows:
Property Imporvements
10% Straight line
Sports & Leisure Equipment
10% Straight line
Office Equipment
20% Straight line
Equipment & Furnishings
10% Straight line

10

Al-Ihsaan Foundation

Notes forming part of the Financial Statements

For The Period Ending 31 December 2023

3.
Voluntary income
Donations Received
Gift Aid
Council Grant
Other Grants (JRS)
4.
Incoming resources from charitable activities
Other Income		 Unrestricted
funds
£
-
-
-
-
Unrestricted
£
-
-
-
-
-
-
-
-
-		 Restricted
income funds
£
621,247
119,122
-
-
740,369
Restricted
£
-
-
-
-
-
-
-
-
-		 2023
Total
£
621,247
119,122
-
-
740,369
2023
Total
£
-
-
-
-
-
-
-
-
-		 2022
Total
£
-
-
-
-
-
2022
Total
£
-
-
-
-
-
-
-
-
-

11

Al-Ihsaan Foundation

Notes forming part of the Financial Statements

For The Period Ending 31 December 2023

5. Charitable activities

Counselling Fees
Criminal Records Bureau Subscription
Charitable Donations
Professional Fees
Community Training Projects
Salaries
Staff Training
Casual Wages
Youth Projects
6. Governance Costs
Sundry
Independent Examination Fee
Legal & Professional Fees
Bank Charges
Cleaning of Premises
Insurance
Light and Heat
Motor and Travelling Expenses
Rates
Printing and Stationery
Rent
Repairs and Renewals
Advertising
Sundry and Cleaning Expenses
Telephone, IT and Website Costs
Water Charges
Depreciation		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
£
-
-
-
-
-
-
-
-
-
-
Restricted
£
750
900
17,046
192
-
-
-
-
42
2,124
-
2,682
1,066
-
732
-
-
25,534		 2023
Total
£
-
-
-
-
-
-
-
-
-
-
Total
£
750
900
17,046
192
-
-
-
-
42
2,124
-
2,682
1,066
-
732
-
-
25,534		 2022
Total
£
-
-
-
-
-
-
-
-
-
-
Total
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

12

Al-Ihsaan Foundation

Notes forming part of the Financial Statements

For The Period Ending 31 December 2023

7. Details of certain items of expenditure

7.1 Trustee expenses

Trustees are not remunerated for their services and there were no out of pocket expenses paid this year.

7.2 Fees for Independent examination of the accounts

The accounts are being independently examined this year, and the independent examiner has been paid fees of £900 for their services.

8. Paid Employees

8.1 Staff costs

Paid Employees
8.1 Staff costs
Gross wages and salaries
Employer's national insurance costs
Employer's pension costs
Redundancy costs
8.2 Average number of employees in the year.
Charitable Activities		 2023
£
-
-
-
-
0
2023
-		 2022
£
-
-
-
-
0
2022
-

9. Tangible fixed assets

Cost
At 1 January 2023
Disposals
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for year
Additions
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Land &
Buildings
£
-
-
-
-
-
-
-
-
0
0		 Plant &
Machinery
£
-
-
-
-
-
-
-
-
0
0		 Office
Equipment
£
-
-
-
-
-
-
-
-
0
0		 Equipment
&
Furnishings
£
-
-
-
-
-
-
-
-
0
0		 Total
£
-
-
-
-
-
-
-
-
0
0

13

Al-Ihsaan Foundation

Notes forming part of the Financial Statements

For The Period Ending 31 December 2023

10.
Investments
Shares in Gervas Properties Ltd
11.
Debtors and Prepayments
Debtors
Other Debtors
Prepayments
12.
Creditors: amounts falling due within one year
Accruals
Other Creditors
Loans
Creditors		 2023
£
1,100,000
1,100,000
2023
£
-
9,750
-
9,750
2023
£
900
3,000
392,000
-
395,900		 2022
£
-
-
2022
£
-
-
-
-
2022
£
-
-
-
-

No person or organisation holds any security over the assets of the society.

14