REGISTERED CHARITY NUMBER: 260968
Trustees' Report and
Unaudited Financial Statements
for the Year Ended 31st December 2023
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 2023
| Page | |
|---|---|
| Trustees' Report | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 to 7 |
| Notes to the Financial Statements | 8 to 15 |
| Detailed Statement of Financial Activities | 16 to 17 |
Idara-e-Jaaferiya
Trustees' Report for the Year Ended 31st December 2023
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 2023. 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).
Trustees' sincere thanks for your ongoing support.
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. We had invited some renowned Scholars and Noha reciters to the centre to deliver lectures during Ramazan, Muharram and Safar Months. The Idara Ashura Jaloos was an enormous success
The daily prayers program, the weekly Thursday and Friday program continues on regular basis.
Our focus continues to be on Education. Location of Saturday Jaaferiya School was moved from Idara premises to Proper school setting. A nearby school rooms has been rented for every Saturday. The rent is £300 per Saturday. The change has been a remarkable success. It has improved the environment, working of the school and helped the progress. The current student population is about 100 and keeps increasing. Your support for this project is appreciated.
We continue with the daily Quran Classes. This is one to one Quran teaching to the students, face to face or online. There are 40+ students in daily Quran classes. The Quran classes are held Monday to Thursday. There four teachers conducting these classes. 2 London base and 2 online from Pakistan.
Thank you once again for continuous support financially, morally and physically. This has been a major source of encouragement for the Management Team to deliver all the activities to the people.
Please continue your support by donating funds for running of Idara. Without your support it would not be possible to conduct the 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 2023
Trustees
Mr M Raza Mr A H A Syed (appointed 20/4/2023) Mr S A Jafri (appointed 20/4/2023) Mr N Naqvi Mr S H Ali Mr A Haidri Mr S Mirza Mr E Raza Mr A Ali (appointed 20/4/2023) Mr S R A S Zaidi (appointed 19/5/2024) Mr S T Hassan (appointed 17/4/2023)
Independent Examiner
Syed H Murtaza FCCA, MCMI Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX
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
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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 judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate 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.
Page 2
Idara-e-Jaaferiya
Trustees' Report for the Year Ended 31st December 2023
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:
Mohammed raza (Oct 30, 2024 23:20 GMT+5) ................................................................. Mr M Raza - Trustee
Page 3
Independent Examiner's Report to the Trustees of Idara-e-Jaaferiya
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 2023.
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.
Syed H Murtaza Syed H Murtaza (Oct 31, 2024 10:31 GMT)
Syed H Murtaza FCCA, MCMI
Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX
Date: .............................................
Page 4
Idara-e-Jaaferiya
Statement of Financial Activities for the Year Ended 31st December 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other income Total EXPENDITURE ON Raising funds 2 Gain on revaluation 7 NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 231,936 1,879 233,815 300,956 489,329 422,188 4,769,631 5,191,819 |
2022 Total funds £ 249,079 - 249,079 309,578 - (60,499) 4,830,130 4,769,631 |
|---|---|---|
The notes form part of these financial statements
Page 5
Idara-e-Jaaferiya
Statement of Financial Position 31st December 2023
| Notes FIXED ASSETS Tangible assets 6 Investment property 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 4,559,716 658,000 5,217,716 1,196 35,037 36,233 (26,130) 10,103 5,227,819 (36,000) 5,191,819 5,191,819 5,191,819 |
2022 Total funds £ 4,708,907 - 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 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 6
Idara-e-Jaaferiya
Statement of Financial Position - continued 31st December 2023
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:
Mohammed raza (Oct 30, 2024 23:20 GMT+5) .............................................
Mr M Raza - Trustee
The notes form part of these financial statements
Page 7
Idara-e-Jaaferiya
Notes to the Financial Statements for the Year Ended 31st December 2023
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 recognized 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 |
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
continued...
Page 8
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
1. ACCOUNTING POLICIES - continued
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.
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
Raising donations and legacies
| Support costs | 2023 £ 3,000 |
2022 £ - |
|---|---|---|
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets Hire of plant and machinery Other operating leases |
2023 £ 14,370 33,199 5,891 |
2022 £ 17,675 24,566 6,145 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
continued...
Page 9
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Freehold Plant and property machinery £ £ COST OR VALUATION At 1st January 2023 4,855,900 128,561 Additions - - Reclassification (137,900) - At 31st December 2023 4,718,000 128,561 DEPRECIATION At 1st January 2023 174,886 122,210 Charge for year 8,795 1,143 At 31st December 2023 183,681 123,353 NET BOOK VALUE At 31st December 2023 4,534,319 5,208 At 31st December 2022 4,681,014 6,351 |
Fixtures and fittings £ 10,625 3,079 - 13,704 8,861 872 9,733 3,971 1,764 |
Motor vehicles £ 24,119 - - 24,119 4,341 3,560 7,901 16,218 19,778 |
Unrestricted fund £ 249,079 309,578 (60,499) 4,830,130 4,769,631 Totals £ 5,019,205 3,079 (137,900) 4,884,384 310,298 14,370 324,668 4,559,716 4,708,907 |
|
|---|---|---|---|---|
continued...
Page 10
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
6. TANGIBLE FIXED ASSETS - continued
Cost or valuation at 31st December 2023 is represented by:
| Fixtures | ||||||
|---|---|---|---|---|---|---|
| Freehold | Plant and | and | Motor | |||
| property | machinery | fittings | vehicles | Totals | ||
| £ | £ | £ | £ | £ | ||
| Valuation in | 2023 | 4,718,000 | 128,561 | 13,704 | 24,119 | 4,884,384 |
Freehold property was valued on fair value basis on 31st May 2019 by Chartered Surveyors.
Asset shown under freehold property has now been correctly reclassified under investment property.
7. INVESTMENT PROPERTY
| FAIR VALUE Additions Revaluation Reclassification At 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 |
£ 30,771 489,329 137,900 |
|---|---|
| 658,000 | |
| 658,000 | |
| - |
Asset shown under freehold property has now been correctly reclassified under investment property. Fair value at 31st December 2023 is represented by:
| £ | ||
|---|---|---|
| Valuation in | 2023 | 658,000 |
If it had not been revalued would have been included at the following historical cost:
| Cost Aggregate depreciation |
2023 £ 137,900 (30,338) |
2022 £ - |
|---|---|---|
| - |
Investment property was valued on fair value basis on 31st March 2023 by the trustees.
continued...
Page 11
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Other debtors 696 Prepayments 500 1,196 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Hire purchase (see note 12) 4,354 Trade creditors 200 Social security and other taxes 511 Pension 605 Other creditors 379 Net wages 3,262 Accrued expenses 16,819 26,130 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Other loans (see note 11) 36,000 Hire purchase (see note 12) - 36,000 11. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due in more than five years: Repayable by instalments: Qarz-e-Hasna 36,000 |
2022 £ - 1,800 1,800 2022 £ - 1 888 302 4,537 5,241 21,401 32,370 2022 £ 36,000 9,055 45,055 2022 £ 36,000 |
|---|---|
continued...
Page 12
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
12. LEASING AGREEMENTS
Minimum lease payments under hire purchase fall due as follows:
| Net obligations repayable: Within one year Between one and five years |
2023 £ 4,354 - 4,354 |
2022 £ - 9,055 |
|---|---|---|
| 9,055 |
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 4,769,631 4,769,631 |
Net movement in funds £ 422,188 422,188 |
At 31.12.23 £ 5,191,819 |
|---|---|---|---|
| 5,191,819 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 233,815 233,815 |
Resources expended £ (300,956) (300,956) |
Gains and losses £ 489,329 489,329 |
Movemen in funds £ 422,188 |
|---|---|---|---|---|
| 422,188 |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 4,830,130 4,830,130 |
Net movement in funds £ (60,499) (60,499) |
At 31.12.22 £ 4,769,631 |
|---|---|---|---|
| 4,769,631 |
continued...
Page 13
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 249,079 249,079 |
Resources expended £ (309,578) (309,578) |
Movement in funds £ (60,499) (60,499) |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 4,830,130 4,830,130 |
Net movement in funds £ 361,689 361,689 |
At 31.12.23 £ 5,191,819 5,191,819 |
|---|---|---|---|
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 £ 482,894 482,894 |
Resources expended £ (610,534) (610,534) |
Gains and losses £ 489,329 489,329 |
Movement in funds £ 361,689 361,689 |
|---|---|---|---|---|
continued...
Page 14
Idara-e-Jaaferiya
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
Page 15
Idara-e-Jaaferiya
Detailed Statement of Financial Activities for the Year Ended 31st December 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Khums income Hall collections & events Sponsorship (Ramzan, Muharram) Member's subscription Sunday school Shop income Funeral services Rent receivable Other income Employment allowance 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 Travelling & entertainment Sundry Bank charges Muharram expenses Pakistan ramzan & ration Carried forward |
2023 £ 79,994 8,292 42,280 46,219 7,105 13,633 653 18,260 15,500 231,936 1,879 233,815 36,455 1,879 906 3,305 4,728 33,199 5,891 50,430 - 4,300 4,990 22,350 6,448 13,425 2,044 9,440 - 1,726 7,491 3,395 212,402 |
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 19,858 1,846 1,893 - - 218,041 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
Idara-e-Jaaferiya
| Detailed Statement of Financial Activities for the Year Ended 31st December 2023 Other trading activities Brought forward Depreciation of tangible fixed assets Groceries, refreshments & niaz Support costs Governance costs Independent examiner's fee Total resources expended Net expenditure |
2023 £ 212,402 14,370 71,184 297,956 3,000 300,956 (67,141) |
2022 £ 218,041 17,676 70,861 306,578 3,000 309,578 (60,499) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 17
2024-10-31
Final Audit Report
Idara-e-Jaaferiya
Created: 2024-10-30 By: Naail & Co (info@naailandco.com) Status: Signed Transaction ID: CBJCHBCAABAADmlQ7yvuGDt_EST_NdZ-TwWxB5TLcjkL
"Idara-e-Jaaferiya" History
Document created by Naail & Co (info@naailandco.com)
2024-10-30 - 11:11:42 AM GMT- IP address: 51.52.201.93
Document emailed to president@idara-e-jaaferiya.org.uk for signature
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Document emailed to syed@naailandco.com for signature
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Email viewed by syed@naailandco.com
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Email viewed by president@idara-e-jaaferiya.org.uk
2024-10-30 - 6:11:41 PM GMT- IP address: 86.161.39.177
Signer president@idara-e-jaaferiya.org.uk entered name at signing as Mohammed raza 2024-10-30 - 6:20:04 PM GMT- IP address: 86.5.54.72
Document e-signed by Mohammed raza (president@idara-e-jaaferiya.org.uk)
Signature Date: 2024-10-30 - 6:20:06 PM GMT - Time Source: server- IP address: 86.5.54.72
Signer syed@naailandco.com entered name at signing as Syed H Murtaza 2024-10-31 - 10:31:23 AM GMT- IP address: 51.52.201.93
Document e-signed by Syed H Murtaza (syed@naailandco.com)
Signature Date: 2024-10-31 - 10:31:25 AM GMT - Time Source: server- IP address: 51.52.201.93
Agreement completed.
2024-10-31 - 10:31:25 AM GMT