REGISTERED CHARITY NUMBER: 260968
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st December 2022
for
Idara e-Jaaferiya
Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX
Idara-e-Jaaferiya
Contents of the Financial Statements for the Year Ended 31st December 2022
| Page | ||
|---|---|---|
| Trustees’ Report | 1 | to 2 |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Statement of Financial Position | 5 | to 6 |
| Notes to the Financial Statements | 7 | to 14 |
| Detailed Statement of Financial Statements | 15 | to 16 |
Idara-e-Jaaferiya
Trustees’ Report for the Year Ended 31st December 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2022. 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).
2022 was first year after covid restrictions were removed.
During the year, Idara continued with regular lectures activities. The lectures covered a wide range of topics focusing on Character Building, Islamic History, Community development etc. The lectures were in English and Urdu.
The daily prayers program, the weekly Thursday and Friday program continues on regular basis. Our focus continues to be on Education. Regular daily Quran classes were held on online and on face to face basis. There are 40+ students in daily Quran classes. The Quran classes are held 4 times a week- Monday to Thursday. The weekly school day is Saturday. Saturday school is back to normal and during 2022 this was held in Idara on regular basis. The number of students is continuous increasing. Currently there are 80 students enrolled in Saturday school. Idara management is thankful to all the volunteers who helped the running of the school.
Charity raised funds for Pakistan floods. Charity remitted about £25k (including sadqa) that was used to support the flood activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
260968
Registered office
18 Church Lane London SW17 9PP
Page 1
Idara-e-Jaaferiya
Trustees' Report for the Year Ended 31st December 2022
Trustees
Mr M Raza Mr A H A Syed (appointed 20/4/2023) Mr S A Jafri (appointed 20/4/2023) Mr N Naqvi (appointed 5/6/2022) Mr S H Ali Mr S T M Jafri Mr A Haidri Mr S Mirza Mr A Raza Mr A Ali (appointed 20/4/2023)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Idara-e-Jaaferiya for the purposes of company law) 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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 those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is appropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which 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 the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ................................................ and signed on its behalf by:
Mohammad Raza (Oct 29, 2023 19:51 GMT) .................................................................... Mr M Raza - Trustee
Page 2
Idara-e-Jaaferiya
Independent Examiner’s Trustees Report for the Year Ended 31st December 2022
Independent examiner's report to the trustees of Idara-e-Jaaferiya ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2022.
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:
-
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.
Independent Examiner
Syed H Murtaza FCCA, MCMI Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX
Syed H Murtaza ………………………………… Syed H Murtaza (Oct 30, 2023 01:29 GMT+5)
Page 3
Idara-e-Jaaferiya
Statement of Financial Activities for the Year Ended 31st December 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds 2 Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted fund £ 249,079 309,578 - 309,578 (60,499) 4,830,130 4,769,631 |
2021 Total funds £ 218,607 |
|---|---|---|
| 195,629 4,816 |
||
| 200,445 | ||
| 18,162 4,811,968 4,830,130 |
The notes form part of these financial statements
Page 4
Idara-e-Jaaferiya
Statement of Financial Position 31st December 2022
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
2022 Unrestricted fund £ 4,708,907 1,800 136,349 138,149 (32,370) 105,779 4,814,686 (45,055) 4,769,631 4,769,631 4,769,631 |
2021 Total funds £ 4,702,463 - 172,034 172,034 (8,367) 163,667 4,866,130 (36,000) 4,830,130 4,830,130 4,830,130 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 5
Idara-e-Jaaferiya
Statement of Financial Position - continued 31st December 2022
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on . ............................................. and were signed on its behalf by:
Mohammad Raza (Oct 29, 2023 19:51 GMT) ............................................. Mr M Raza - Trustee
The notes form part of these financial statements
Page 6
Idara-e-Jaaferiya
Notes to the Financial Statements for the Year Ended 31st December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 18% on reducing balance Fixtures and fittings - 18% on reducing balance Motor vehicles - 18% on reducing balance
Taxation
The charity is exempt from corporation 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.
Hire purchase and leasing commitments
The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.
continued...
Page 7
Idara-e-Jaaferiya
Notes to the Financial Statements - continued
for the Year Ended 31st December 2022
1. ACCOUNTING POLICIES - continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| Staff costs Bank charges Sundry |
2022 £ 22,858 1,893 1,846 26,597 |
2021 £ 6,556 1,067 170 |
| 7,793 |
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets Hire of plant and machinery Other operating leases |
2022 £ 17,675 26,459 7,991 |
2021 £ 13,725 10,200 7,059 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
continued...
Page 8
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 218,607 195,629 4,816 200,445 18,162 4,811,968 4,830,130 |
|---|---|
continued...
Page 9
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
6. TANGIBLE FIXED ASSETS
| Freehold property Plant and machinery £ COST OR VALUATION At 1st January 2022 577,636 £ 128,561 Additions - - Revaluations 4,278,264 - At 31st December 2022 4,855,900 128,561 DEPRECIATION At 1st January 2022 163,334 120,815 Charge for year 11,552 1,395 At 31st December 2022 174,886 122,210 NET BOOK VALUE At 31st December 2022 4,681,014 6,351 At 31st December 2021 414,302 7,746 Cost or valuation at 31st December 2022 is represented by: Freehold Plant and Valuation in 2022 property £ 4,855,900 machinery £ 128,561 |
Fixtures and fittings £ 10,625 - - 10,625 8,474 387 8,861 1,764 2,151 Fixtures and fittings £ 10,625 |
Motor vehicles £ - 24,119 - 24,119 - 4,341 4,341 19,778 - Motor vehicles £ 24,119 |
Totals £ 716,822 24,119 4,278,264 |
|---|---|---|---|
5,019,205 |
|||
292,623 17,675 |
|||
| 310,298 | |||
| 4,708,907 | |||
424,199 |
|||
| Totals £ 5,019,205 |
Freehold property was valued on fair value basis on 31st May 2019 by Chartered Surveyors.
continued...
Page 10
Idara-e-Jaaferiya
| Notes to the Financial Statements - continued for the Year Ended 31st December 2022 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 Prepayments £ 1,800 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Trade creditors 1 Social security and other taxes 888 Pension 302 Other creditors 4,537 Net wages 5,241 Accrued expenses 21,401 32,370 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Other loans (see note 10) 36,000 Hire purchase (see note 11) 9,055 45,055 10. LOANS An analysis of the maturity of loans is given below: 2022 £ Amounts falling due in more than five years: Repayable by instalments: Qarz-e-Hasna 36,000 |
|
|---|---|
continued...
Page 11
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
11. LEASING AGREEMENTS
Minimum lease payments under hire purchase fall due as follows:
| Net obligations repayable: Between one and five years 12. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 4,830,130 4,830,130 Incoming resources £ 249,079 249,079 At 1.1.21 £ 4,811,968 4,811,968 |
2022 £ 9,055 Net movement in funds £ (60,499) (60,499) Resources expended £ (309,578) (309,578) Net movement in funds £ 18,162 18,162 |
2021 £ - At 31.12.22 £ 4,769,631 4,769,631 Movement in funds £ (60,499) (60,499) At 31.12.21 £ 4,830,130 4,830,130 |
|
|---|---|---|---|---|
continued...
Page 12
Idara-e-Jaaferiya
Notes to the Financial Statements - continued
for the Year Ended 31st December 2022
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 218,607 218,607 |
Resources expended £ (200,445) (200,445) |
Movement in funds £ 18,162 18,162 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.21 £ 4,811,968 4,811,968 |
Net movement in funds £ (42,337) (42,337) |
At 31.12.22 £ 4,769,631 4,769,631 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 467,686 467,686 |
Resources expended £ (510,023) (510,023) |
Movement in funds £ (42,337) (42,337) |
|---|---|---|---|
continued...
Page 13
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
Page 14
Idara-e-Jaaferiya
Detailed Statement of Financial Activities for the Year Ended 31st December 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Khums income Hall collections & events Sponsorship (Ramzan, Muharram) Government grant Member's subscription Sunday school Shop income Funeral services Rent receivable Total incoming resources EXPENDITURE Other trading activities Resident Alim & Sunday school Employer's NI contributions Employer's pension Rates and water Insurance Light and heat Cleaning Repairs and maintenance Khums paid Fitra Sadqa paid Visiting speakers Funeral services School expenses Printing, postage & stationery Depreciation of tangible fixed assets Groceries, refreshments & niaz |
2022 £ 78,035 21,538 33,103 57,039 - 8,098 8,689 1,037 22,930 18,610 249,079 249,079 35,962 2,126 906 1,856 6,442 24,566 6,145 18,480 11,529 3,369 25,328 31,070 16,110 8,881 1,674 17,676 70,861 282,981 |
2021 £ 132,362 - 5,885 - 17,004 5,900 4,786 2,810 29,967 19,893 |
|---|---|---|
218,607 |
||
218,607 30,196 1,730 906 385 6,010 9,133 6,889 30,895 6,772 1,513 6,127 15,578 7,904 6,523 3,249 13,725 40,301 |
||
187,836 |
This page does not form part of the statutory financial statements
Page 15
Idara-e-Jaaferiya
| Detailed Statement of Financial Activities for the Year Ended 31st December 2022 Other trading activities Investment management costs Telephone Travelling Auditors remuneration Independent examiner’s fees Bank charges Sundry Support costs Other 2 Gain/Loss on disposal Total resources expended Net (expenditure)/income |
2022 £ - 19,858 - 3,000 1,893 1,846 26,597 - 309,578 (60,499) |
2021 £ 675 1,381 4,500 - 1,067 170 |
|---|---|---|
| 7,793 4,816 |
||
| 200,445 | ||
18,162 |
This page does not form part of the statutory financial statements
Page 16
2023-10-29
Full accounts
Final Audit Report
Created: 2023-10-27 By: S Murtaza (info@naailandco.com) Status: Signed Transaction ID: CBJCHBCAABAAYR7MYpKxmqmHDxf8an648nVXqkR6n7dV
"Full accounts" History
Document created by S Murtaza (info@naailandco.com)
2023-10-27 - 1:50:38 PM GMT- IP address: 51.52.201.93
Document emailed to info@idara-e-jaaferiya.org.uk for signature
2023-10-27 - 1:52:01 PM GMT
Email viewed by info@idara-e-jaaferiya.org.uk
2023-10-27 - 1:59:34 PM GMT- IP address: 212.103.241.42
- Signer info@idara-e-jaaferiya.org.uk entered name at signing as Mohammad Raza
2023-10-29 - 7:51:26 PM GMT- IP address: 92.40.212.21
Document e-signed by Mohammad Raza (info@idara-e-jaaferiya.org.uk)
Signature Date: 2023-10-29 - 7:51:28 PM GMT - Time Source: server- IP address: 92.40.212.21
Document emailed to syed@naailandco.com for signature 2023-10-29 - 7:51:30 PM GMT
Email viewed by syed@naailandco.com
2023-10-29 - 7:58:15 PM GMT- IP address: 104.28.38.72
Signer syed@naailandco.com entered name at signing as Syed H Murtaza 2023-10-29 - 8:29:20 PM GMT- IP address: 202.47.48.14
Document e-signed by Syed H Murtaza (syed@naailandco.com) Signature Date: 2023-10-29 - 8:29:22 PM GMT - Time Source: server- IP address: 202.47.48.14
Agreement completed.
2023-10-29 - 8:29:22 PM GMT