REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements for the Year Ended 28 February 2024 |
for |
Hayat Foundation Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements for the Year Ended 28 February 2024 |
for |
Hayat Foundation Limited |
Hayat Foundation Limited |
Contents of the Financial Statements |
for the Year Ended 28 February 2024 |
Page |
Trustees' Report | 1 | to | 3 |
Independent Examiner's Report | 4 | to | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 13 |
Hayat Foundation Limited (Registered number: 07157493) |
Trustees' Report |
for the Year Ended 28 February 2024 |
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 28 February 2024. 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 |
Objectives and aims |
The charity's objects are to: |
a) Advance education in Islamic culture and tradition |
b) Promote religious harmony for the benefit of the public by promoting knowledge and mutual understanding and respect of the beliefs and practices of different religious faith |
c) Provide education, support and activities which develop the skills of young people to enable them to participate in society as mature and responsible individuals |
d) Promote equality and diversity in particular but not exclusively by promoting the inclusion of the Muslim community in the wider community and raising awareness of different cultural issues across schools, statutory bodies and the wider public |
e) Promote the relief of poverty and financial hardship by the provision of information, advice and support |
f) Promote such other purposes as are exclusively charitable in such other parts of the United Kingdom or the world as the trustees may from time to time think fit |
FINANCIAL REVIEW |
Reserves policy |
The charity's policy for determining the level of reserves is to ensure funds are retained to be |
able to deal with any unforeseen expenses arising in the next year, together with all day to |
day running expenses. The Trustees require unrestricted reserve funds to be at least |
sufficient to cover one-month's outgoings. |
The trustees consider the state of affairs of the company to be satisfactory and that the level |
of unrestricted funds to be sufficient to enable it to continue meeting its' charitable objectives. |
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. |
Decision making |
The trustees are also responsible for the day-to-day management and operation of the Charity. |
In the management of the Charity and the preparation of these accounts the Trustees have |
paid due regard to the Charity Governance Code. |
Risk management |
The trustees have considered and analysed the main risks to which the charity is exposed |
and established procedures to review and manage such risks. |
Hayat Foundation Limited (Registered number: 07157493) |
Trustees' Report |
for the Year Ended 28 February 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Hayat Foundation Limited 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). |
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; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | 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. |
Hayat Foundation Limited (Registered number: 07157493) |
Trustees' Report |
for the Year Ended 28 February 2024 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
The trustees (who are also directors of Hayat Foundation Limited for the |
purposes of company law) are responsible for preparing the Trustees 'Annual Report' and the |
financial statements in accordance with applicable law and United Kingdom Accounting |
Standards (United Kingdom Generally Accepted Accounting Practice) |
Company law requires the trustees to prepare accounts for each financial year which give a |
true and fair view of the state of affairs of the company at the end of the period and of the |
incoming resources and application of resources, including the income and expenditure. In |
preparing these accounts, the trustees are required to:- |
~ select suitable accounting policies and then apply them consistently; |
~ observe the methods and principles in the Charities SORP; |
~ make judgements and estimates that are reasonable and prudent; |
~ prepare the accounts on the going concern basis unless it is inappropriate to |
presume that the charity will continue in operation. |
~ State whether applicable UK Accounting Standards have been followed subject to |
any material departures discussed and explained in the financial statements. |
The trustees are responsible for keeping adequate accounting records that disclose with |
reasonable accuracy at any time, the financial position of the company and enable them to |
ensure that the accounts comply with the Companies Act 2006. |
The trustees are also responsible for safeguarding the assets of the 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 relating to |
Companies Subject to the small companies regime within Part 15 of the Companies Act |
2006 and SORP 2005 'Accounting and Reporting for Charities'. |
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 |
Independent Examiner's Report to the Trustees of |
Hayat Foundation Limited |
Independent examiner's report to the trustees of Hayat Foundation Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2024. |
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. |
Independent Examiner's Report to the Trustees of |
Hayat Foundation Limited |
John Savva Limited |
Churchill House |
137-139 Brent Street |
Hendon |
London |
NW4 4DJ |
John Savva FCCA, ATT |
The Association of Chartered Certified Accountants |
21 January 2025 |
Hayat Foundation Limited |
Statement of Financial Activities |
for the Year Ended 28 February 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 50,103 |
Hayat Foundation Limited (Registered number: 07157493) |
Balance Sheet |
28 February 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 50,103 |
TOTAL FUNDS | 50,103 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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. |
Hayat Foundation Limited (Registered number: 07157493) |
Balance Sheet - continued |
28 February 2024 |
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 |
Hayat Foundation Limited |
Notes to the Financial Statements |
for the Year Ended 28 February 2024 |
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. |
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. |
Hayat Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 28 February 2024 nor for the year ended 28 February 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 28 February 2024 nor for the year ended 28 February 2023. |
3. | STAFF COSTS |
The average number of employees for 2024 was 0 ( nil) . 2023 was also 0 ( nil). |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 50,103 |
Hayat Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals and deferred income |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.3.23 | in funds | 28.2.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 50,103 | (29,303 | ) | 20,800 |
TOTAL FUNDS | (29,303 | ) | 20,800 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 42,449 | (71,752 | ) | (29,303 | ) |
TOTAL FUNDS | ( |
) | (29,303 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.3.22 | in funds | 28.2.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 107,624 | (57,521 | ) | 50,103 |
TOTAL FUNDS | 107,624 | (57,521 | ) | 50,103 |
Hayat Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
7. | 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 | 41,071 | (98,592 | ) | (57,521 | ) |
TOTAL FUNDS | 41,071 | (98,592 | ) | (57,521 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.3.22 | in funds | 28.2.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 107,624 | (86,824 | ) | 20,800 |
TOTAL FUNDS | 107,624 | (86,824 | ) | 20,800 |
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 | 83,520 | (170,344 | ) | (86,824 | ) |
TOTAL FUNDS | 83,520 | (170,344 | ) | (86,824 | ) |
Hayat Foundation Limited |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
8. | RELATED PARTY DISCLOSURES |