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REGISTERED COMPANY NUMBER: 05499251 (England and Wales)
REGISTERED CHARITY NUMBER: 1120516














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2023

for

Madina Education Trust

Madina Education Trust






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 12

Madina Education Trust (Registered number: 05499251)

Report of the Trustees
for the Year Ended 31 July 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 31 July 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).

OBJECTIVES AND ACTIVITIES
The objectives of the trust are the advancement of education in the United Kingdom and elsewhere; the furthering of education and training; to provide facilities as required for the provision of education; the fostering promotion and increasing the interest of the public in education; pursuing other charitable purposes as the trustees shall think fit.

ACHIEVEMENT AND PERFORMANCE
The Charity has successfully expanded its activities for education classes in the current financial year. Various classes have been running successfully throughout the period under review.

FINANCIAL REVIEW
The total incoming resources for the period amounted to £174,919 (2022: £130,281) with a net surplus of £66,520 (2022: £36,872).

FUTURE PLANS
The Trust intends to carry on providing its core education services as detailed in the Memorandum and Articles of Association. The charity plans to further expand its range of courses and increase student uptake in the forthcoming year and continue developing on its success and popularity.

STRUCTURE, GOVERNANCE AND MANAGEMENT
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under those Articles the initial subscribers to the Memorandum are the first Trustees of the Charity. One third of the Trustees must retire at each AGM subject to reappointment by the members.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05499251 (England and Wales)

Registered Charity number
1120516

Registered office
Madina House
Walsall Street
Wednesbury
WS10 9EL

Trustees
Azmal Hussain Trustee
B I Khan Trustee
Halim Uddin Trustee
Mohammed A Mumith Trustee
Aftab Miah Trustee
Shahin Uddin Trustee

Madina Education Trust (Registered number: 05499251)

Report of the Trustees
for the Year Ended 31 July 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Company Secretary
Azmal Hussain

Independent Examiner
Monzur Sumon MA, FCCA, ACA, CTA
Abacus tax Consultants Ltd
Chartered Accountants
The Colmore Building
20 Colmore Circus
Birmingham
West Midlands
B4 6AT

Approved by order of the board of trustees on 3 April 2024 and signed on its behalf by:





Azmal Hussain - Trustee

Independent Examiner's Report to the Trustees of
Madina Education Trust

Independent examiner's report to the trustees of Madina Education Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.








Monzur Sumon MA, FCCA, ACA, CTA

Abacus tax Consultants Ltd
Chartered Accountants
The Colmore Building
20 Colmore Circus
Birmingham
West Midlands
B4 6AT

3 April 2024

Madina Education Trust

Statement of Financial Activities
for the Year Ended 31 July 2023

31.7.23 31.7.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 155,119 125,661

Other trading activities 2 19,800 4,620
Total 174,919 130,281

EXPENDITURE ON
Charitable activities
Education & support 108,399 93,409

NET INCOME 66,520 36,872


RECONCILIATION OF FUNDS
Total funds brought forward 414,867 377,995

TOTAL FUNDS CARRIED FORWARD 481,387 414,867

Madina Education Trust (Registered number: 05499251)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 685,614 668,253

CURRENT ASSETS
Debtors 7 - 125
Cash at bank and in hand 43,981 25,483
43,981 25,608

CREDITORS
Amounts falling due within one year 8 892 1,426

NET CURRENT ASSETS 44,873 27,034

TOTAL ASSETS LESS CURRENT
LIABILITIES

730,487

695,287

CREDITORS
Amounts falling due after more than one
year

9

(249,100

)

(280,420

)

NET ASSETS 481,387 414,867
FUNDS 10
Unrestricted funds 481,387 414,867
TOTAL FUNDS 481,387 414,867

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(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.

Madina Education Trust (Registered number: 05499251)

Balance Sheet - continued
31 July 2023


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 3 April 2024 and were signed on its behalf by:





Azmal Hussain - Trustee





Shahin Uddin - Trustee

Madina Education Trust

Notes to the Financial Statements
for the Year Ended 31 July 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.

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 - not provided
Fixtures and fittings - 25% on cost

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.


Madina Education Trust

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. OTHER TRADING ACTIVITIES
31.7.23 31.7.22
£    £   
Rent receivable 19,800 4,620

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.


4. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.7.23 31.7.22
Administration 6 7

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 125,661

Other trading activities 4,620
Total 130,281

EXPENDITURE ON
Charitable activities
Education & support 93,409

NET INCOME 36,872


RECONCILIATION OF FUNDS
Total funds brought forward 377,995


Madina Education Trust

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£   
TOTAL FUNDS CARRIED
FORWARD

414,867

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 August 2022 668,253 83,410 751,663
Additions 17,361 - 17,361
At 31 July 2023 685,614 83,410 769,024
DEPRECIATION
At 1 August 2022 and 31 July 2023 - 83,410 83,410
NET BOOK VALUE
At 31 July 2023 685,614 - 685,614
At 31 July 2022 668,253 - 668,253

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Prepayments - 125


Madina Education Trust

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 500 46
Social security and other taxes (1,414 ) (1,494 )
Other creditors 22 22
(892 ) (1,426 )

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Other creditors 249,100 280,420

10. MOVEMENT IN FUNDS
Net
movement At
At 1.8.22 in funds 31.7.23
£    £    £   
Unrestricted funds
General fund 414,867 66,520 481,387

TOTAL FUNDS 414,867 66,520 481,387

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 174,919 (108,399 ) 66,520

TOTAL FUNDS 174,919 (108,399 ) 66,520


Comparatives for movement in funds

Net
movement At
At 1.8.21 in funds 31.7.22
£    £    £   
Unrestricted funds
General fund 377,995 36,872 414,867

TOTAL FUNDS 377,995 36,872 414,867

Madina Education Trust

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 130,281 (93,409 ) 36,872

TOTAL FUNDS 130,281 (93,409 ) 36,872

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.8.21 in funds 31.7.23
£    £    £   
Unrestricted funds
General fund 377,995 103,392 481,387

TOTAL FUNDS 377,995 103,392 481,387

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 305,200 (201,808 ) 103,392

TOTAL FUNDS 305,200 (201,808 ) 103,392


Madina Education Trust

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023.