THE TARAJ EDUCATION TRUST FINANCIAL STATEMENTS FOR THE YEAR END 31[ST ] MARCH 2023
Charity Number 286247
INDEX
Legal and administrative details Report of the trustees Report of the auditors Accounting policies Consolidated statement of financial activities Consolidated summary income and expenditure account Consolidated Balance sheet Balance sheet Consolidated cash flow statement Note of historical cost income and expenditure Notes to the financial statements
Legal and Administrative Details
| Charity registration number | Charity Number 286247 |
|---|---|
| Registered office: | 5 Laitwood Road |
| London | |
| SW12 9QN | |
| Trustees: | Mr Gulam Mohamed Amejee |
| Mr Mahmoud Amejee | |
| Mr Ashraf Ali Kara | |
| Mr Ismail Patel | |
| Bankers: | In Process of |
| Opening a new | |
| Bank account. | |
| Will inform you | |
| As soon as the | |
| Account is opened. |
Trustees Annual Report -
The trustees present their report together with financial statements for the year ended 31st March 2023.
Reference and administrative details
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
The Trustees
The Trustees who served the charity during the period were as follows:
Mr Gulam Mohamed Amejee Mr Mahmoud Amejee Mr Ashraf Ali Kara Mr Ismail Patel
Objectives and activities
The aim of the institute is to deliver religious education to students so they can train to become qualified scholars, religious social workers, family conflict resolution counsellors and fulfil the need of various requirements to the Muslim communities. Provide a platform for students to learn different languages, acquiring knowledge in programmes of literacy, numeracy and ability to write and read. The institution aims to prepare students to become model Muslims and responsible citizens whilst embedding in them a sense of discipline, which enables them to develop into upright, respectable and worthy citizens in their respective country.
Achievements and performance
During the accounting year 22/23 the trust was unable to provide any funding to the India institution, this is due to major refurbishment and renovation work being carried out at the trust property in Fentiman Road. Two years ago the trust informed the India institute about this impending work. Once the project work is completed, the India institution will continue to benefit financially from our charity.
Financial review
The Charity continued to receive rent from the properties that is owns. The net surplus was large and the Charity's balance sheet is strong. The charity does not have any loans or borrowings.
It is the policy of the Charity that unrestricted funds, which have not been specifically designated for a specific use, should be maintained at a level above three to six months expenditure. The trustees consider reserves at this level will ensure that in the unlikely event of an unexpected drop in rental income, there will be able to continue the Charity's current activities. There are no restricted funds.
Trustees’ Responsibilities Statement
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year. The trustees have to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity 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;
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make judgments and accounting 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 group will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and 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 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. 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.
Signed on behalf of the trustees:
MR ASHRAF ALI KARA
…………………….
Independent examiner's report to the trustees on the unaudited financial statements of The Taraj Education Trust
I report on the accounts of The Taraj Education Trust for the year ended 31 March 2023, which are set out on pages 3 to 10.
This report is made solely to the trustees, as a body, in accordance with section 154 of the Charities Act 2011 (the 2011 Act). My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my work, for this report, or for the opinions I have formed.
Respective responsibilities of trustees and 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 2011 Act and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity
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Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report (
My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 no opinion is given 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
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I. In connection with my examination, no matter has come to my attention:
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II. which gives me reasonable cause to believe that in any material respect the requirements:
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III. to keep accounting records in accordance with section 130 of the 2011 Act; and
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 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Statement Of Financial Activities – Year Ended 31 March 2023
| Income Incoming resource Investment income Donations Total incoming resources Expenditure Resources expended Charitable expenditure: Management Fees Building Insurance Cleaning Repairs and Maintenance Accountancy Legal and Professional Misc Council Tax Depreciation (Furniture) Water & Utilities Disbursements for educational purposes Total resources expended Total funds brought forward Revaluation Reserve* Surplus for the year Total funds carried forward** |
Unrestricted Funds £ 108,553 - |
Total Funds 2023 £ 108,553 - |
Total Funds 2022 £ 118923 - |
|---|---|---|---|
| 108,553 7238 2396 652 6323 350 2098 500 1,251 1569 0 |
108,553 7238 2396 652 6323 350 2098 500 1,251 1569 0 |
118923 7611 2190 1020 7899 350 8177 1000 1285 2106 295 26543 |
|
| 22,377 | 22,377 | 58,476 | |
| 502,914 2,400,000 86,177 2,989.091 |
502,914 2,400,000 86,177 2,989.091 |
442,465 502,914 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
Balance Sheet at 31 March 2016
| Fixed assets Land and Buildings Revaluation reserve(1361 London Rd &163 Fentiman Rd) Building works Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Income Funds Unrestricted funds: |
2023 £ 2,483,503 151,837 |
2022 £ 235,340 1,568 |
|---|---|---|
| 2,635,340 | 236,908 | |
| 200,347 153,404 |
113,250 153,404 |
|
| 353,751 | 266,654 | |
| 0 | 650 | |
| 2989,091 | 504,912 | |
| 2989,091 **2989,091 ** |
504,912 504,912 |
|
| 2989,091 | 504,912 |
The Board of Trustees approved the financial statements.
…………………….
MR ASHRAF ALI KARA
1. ACCOUNTING POLICIES
1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005).
Fixed assets
1.2 Investment Properties
All fixed assets are initially recorded at current market value.
1.3 Income Resources
All income resources are included in the statement of financial activities when the charity is entitles to the income and the amount can be quantified with reasonable accuracy. Investment income is recognised one the accruals basis from rent received from both investment properties.
2. INVESTMENT INCOME
| Rental income 3. INVESTMENT PROPERTIES *1361 London Road, SW16 163 Fentiman, SW8 (Revaluation Reserve) |
2023 £ 108,553 |
2022 £ 118,923 |
|---|---|---|
| 108,553 | 118,923 | |
| 2023 £ 2,400,000 |
2022 £ 235,340 |
|
| 2,400,000 | 235,340 |
4. DEBTORS
| Other debtors 5. CASH AT BANK AND IN HAND Cash at bank |
2023 £ 200,347 |
2022 £ 113,250 |
|---|---|---|
| 200,347 | 113,250 | |
| 2023 £ 153,404 |
2022 £ 153,404 |
153,404 153,404
6. CREDITORS
| Other Creditors Unrestricted funds |
Balance at 1 April 2023 £ 2,989,091 |
2023 £ 0 |
2023 £ 0 |
2022 £ 300 300 Outgoing resources Balance at 31 March 2022 £ £ 86,177 502,914 86,177 502,914 |
2022 £ 300 300 Outgoing resources Balance at 31 March 2022 £ £ 86,177 502,914 86,177 502,914 |
|
|---|---|---|---|---|---|---|
| 0 | ||||||
| Reserve* Valuation £** 2,400,000 |
Outgoing resources £ 86,177 |
|||||
| 2,989,091 | 2,400,000 | 86,177 | 502,914 |