## **THE TARAJ EDUCATION TRUST FINANCIAL STATEMENTS FOR THE YEAR END 31[ST ] MARCH 2024**
**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:|Metro Bank|
||65-67 Clapham High Street|
||London SW4 7TG|
||Account No 1: 53863094|
||Sort code: 23-05-80|
||Account No 2: 53863108|
||Sort code: 23-05-08|
## **Trustees Annual Report -**
The trustees present their report together with financial statements for the year ended 31st March 2024.
## **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 23/24, the trust had 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 is large, and the Charity's balance sheet is strong.
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:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP.
- make judgments and accounting estimates that are reasonable and prudent.
- 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 2024, 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:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity
- Commission
under section 145(5)(b) of the 2011 Act; and
- 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**
- I. In connection with my examination, no matter has come to my attention:
- II. which gives me reasonable cause to believe that in any material respect the requirements:
- 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 2024**
|**Income**
**Incoming resource**
Investment income
Other Income
Total incoming resources
**Expenditure**
**Resources expended**
Charitable expenditure:
Management Fees
Building Insurance
Cleaning
Repairs and Maintenance
Accountancy
Legal and Professional
Misc
Council Tax
Payments to Charity
Depreciation (Furniture)
Bank Charges
**Total resources expended**
**Total funds brought forward**
*** Revaluation Reserve**
**Surplus for the year**
**Total funds carried forward**|**Unrestricted**
**Funds**
**£**
73,750
15,000|**Total**
**Funds**
**2024**
**£**
**73,750**
**15,000**|Total
Funds
**2023**
£
108,553
-|
|---|---|---|---|
||88,750
5,295
3,036
267
4,703
350
8,780
0
4,360
13,147
0
144|**88,750**
**5,295**
**3,036**
**267**
**4,703**
**350**
**8,780**
**0**
**4,360**
**13,147**
**0**
**144**|108,553
7238
2396
652
6323
350
2098
500
1,251
0
1569
0|
||40,082|**40,082**|22,377|
||589,090
2,400,000
48,668
3,037,758|**589,090**
**2,400,000**
**48,668**
**3,037,758**|502,914
2,400,000
86,177
2,989.091|
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 on 31 March 2024**
|**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:|**2024**
**£**
**2,483,503**
**538,560**|2023
£
2,483,503
151,837|
|---|---|---|
||**3,022,063**|2,635,340|
||**14,877**
**20,302**|200,347
153,404|
||**35,179**|353,751|
||**0**|0|
||**3,037,758**|2989,091|
||**3,037,758**
**3,037,758**|2989,091
2989,091|
||**3,037,758**|2989,091|
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)|**2024**
**£**
**73,750**|**2023**
£
**108,553**|
|---|---|---|
||**73,750**|**108,553**|
||**2024**
**£**
**2,400,000**|2023
£
**2,400,000**|
||**2,400,000**|**2,400,000**|
## **4. DEBTORS**
|Other debtors
**5. CASH AT BANK AND IN HAND**
Cash at bank|**2024**
**£**
**14,877**|**2023**
£
**200,347**|
|---|---|---|
||**14,877**|**200,347**|
||**2024**
**£**
20,302|**2023**
£
153,404|
||20,302|153,404|
## **6. CREDITORS**
|Other Creditors|**2024**
**£**
**19,484 **|**2023**
£
0|
|---|---|---|
||**19,484**|0|
## **7. UNRESTRICTED FUNDS**
|Unrestricted funds|**Balance at**
**1 April**
**2024**
**£**
3,037,758|***Reserve**
**Valuation**
**£**
2,400,000|**Outgoing**
**resources**
**£**
48,668|**Balance at**
**31 March**
**2023**
£
2,989,091|
|---|---|---|---|---|
||**3,037,758**|**2,400,000**|**48,668**|**2,989,091**|