Charity registration number 1162339 (England and Wales)
Company registration number 08947236
MUSLIM ROSE WELFARE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
MUSLIM ROSE WELFARE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Dr Siraj Brohi
Dr Sadaf Akbar
Miss Riffat Qayyum
Charity number (England and Wales)
1162339
Company number
08947236
Registered office
183-189 The Vale
Acton
London
United Kingdom
W3 7RW
Independent examiner
Reddy Siddiqui LLP
183-189 The Vale
Acton
London
United Kingdom
W3 7RW
MUSLIM ROSE WELFARE LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 13
MUSLIM ROSE WELFARE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The Charity's objects are:

 

  1. To provide poor people in need with food, cloths, milk packs and immediate Medical facilities to those living in the remote areas and are in desperate need.

  2. For the public benefit, the relief and assistance to the people who are praying in Extreme weather conditions by supplying them with fans and heaters.

  3. For the Public benefit, the relief and assistance to poor unmarried girls who are in financial hardship and are not able to get dowry products by supplying them with Items like furniture, bedding etc. To start their new life.

  4. To relieve sickness and to preserve good health among poor people, orphans, widows and under Privileged / needy people, by means of, but not exclusively, the provision of facilities or services for treatment, support and counselling.

  5. For the public benefit, to provide clean water to the people of remote areas by supplying them water tankers.

  6. The advancement of Islamic education for the public benefit, by supplying poor people with free copies of holy Quran, arranging and engaging English teachers and computers in religious school for them to engage with Modern technology.

  7. To promote any other charitable purpose for the benefit of those in need that the directors from time to time determine.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

MUSLIM ROSE WELFARE LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Achievements and performance

During the year, Muslim Rose Welfare Limited has continued to provide support to the local communities and has contributed towards various projects in Pakistan's deprived regions:

 

Education

 

Faith and Community

 

Healthcare and Sanitation

 

Empowerment and Support:

 

Entrepreneurship and Opportunity:

Financial review

The Statement of Financial Activities is set out on page 4 of these accounts.

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management
MUSLIM ROSE WELFARE LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The Charity is a company limited by guarantee. It is operated under the rules of its memorandum and articles of association dated 18/03/2014 and most recently amended 29/5/2015. It has no share capital and the liability of each member in the event of winding-up is limited to £10.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr Siraj Brohi
Dr Sadaf Akbar
Miss Riffat Qayyum

 

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

Dr Siraj Brohi
Miss Riffat Qayyum
Trustee
Trustee
Dated: 24 January 2025
Dated:24 January 2025
MUSLIM ROSE WELFARE LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MUSLIM ROSE WELFARE LIMITED
- 4 -

I report to the trustees on my examination of the financial statements of MUSLIM ROSE WELFARE LIMITED (the Charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 that in any material respect:

1

accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements 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 financial statements 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 financial statements to be reached.

Reddy Siddiqui LLP
183-189 The Vale
Acton
London
W3 7RW
United Kingdom
24 January 2025
MUSLIM ROSE WELFARE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
260,761
191,079
Charitable activities
4
40,060
-
Total income
300,821
191,079
Expenditure on:
Raising funds
5
78,290
65,534
Charitable activities
6
101,234
86,868
Other expenditure
11
187
566
Total expenditure
179,711
152,968
Net income and movement in funds
121,110
38,111
Reconciliation of funds:
Fund balances at 1 April 2023
157,495
119,384
Fund balances at 31 March 2024
278,605
157,495

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

MUSLIM ROSE WELFARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
13,028
17,372
Current assets
Debtors
14
-
1,432
Cash at bank and in hand
266,827
142,771
266,827
144,203
Creditors: amounts falling due within one year
15
(1,250)
(4,080)
Net current assets
265,577
140,123
Total assets less current liabilities
278,605
157,495
The funds of the Charity
Unrestricted funds
16
278,605
157,495
278,605
157,495

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 24 January 2025
Dr Siraj Brohi
Miss Riffat Qayyum
Trustee
Trustee
Company registration number 08947236 (England and Wales)
MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
1
Accounting policies
Charity information

MUSLIM ROSE WELFARE LIMITED is a private company limited by guarantee incorporated in England and Wales. The registered office is 183-189 The Vale, Acton, London, W3 7RW, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4
Incoming resources
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

 

 

MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -

Liabilities are recognised when resources are expended. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6
Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
260,761
191,079
MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
HMRC Gift Aid
Other income
40,060
-
5
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Advertising
15,108
21,093
Other fundraising costs
63,182
44,441
78,290
65,534
6
Charitable activities
2024
2023
£
£
Staff costs
4,184
4,550
Depreciation and impairment
4,343
3,729

Rose Primary School

79,237
69,518
87,764
77,797
Share of support costs (see note 7)
12,078
7,871
Share of governance costs (see note 7)
1,392
1,200
101,234
86,868
MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
7
Support costs
Support costs
Governance costs
2024
2023
Basis of allocation
£
£
£
£
Support costs heading 1
12,078
-
12,078
7,871
Accountancy
-
1,392
1,392
1,200
Governance
12,078
1,392
13,470
9,071
Analysed between
Charitable activities
12,078
1,392
13,470
9,071

Governance costs includes payments to the accountant of £1000+vat for accountancy fees.

8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
-
-
Depreciation of owned tangible fixed assets
4,343
3,729
9
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits during the year.

The charity paid utility and travel expenses, of which £1,867 was allocated for Miss Qayyum, a trustee, for her private use. Miss R Qayyum has since repaid this amount, including £1,432 for previous years. At the end of the year, a balance of £51 remains, which the charity owes to Miss Qayyum and is included in other creditors.

10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
1
1
Employment costs
2024
2023
£
£
Wages and salaries
4,184
4,550
There were no employees whose annual remuneration was more than £60,000.
MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10
Employees
(Continued)
- 12 -
Remuneration of key management personnel
11
Other expenditure
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Financing costs
187
566
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13
Tangible fixed assets
Fixtures, fittings & equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
996
2,514
18,547
22,057
At 31 March 2024
996
2,514
18,547
22,057
Depreciation and impairment
At 1 April 2023
896
699
3,091
4,686
Depreciation charged in the year
25
454
3,864
4,343
At 31 March 2024
921
1,153
6,955
9,029
Carrying amount
At 31 March 2024
75
1,361
11,592
13,028
At 31 March 2023
(471)
2,387
15,456
17,372
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
1,432
MUSLIM ROSE WELFARE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
15
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
51
1,918
Accruals and deferred income
1,199
2,162
1,250
4,080
16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
157,495
300,821
(179,711)
278,605
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
119,384
191,079
(152,968)
157,495
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