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)".
The Charity's objects are:
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.
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.
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.
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.
For the public benefit, to provide clean water to the people of remote areas by supplying them water tankers.
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.
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.
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
300 Futures Illuminated: MRWL built 3 new schools, providing free education, books, and family support to 300 children who were previously deprived of learning opportunities. This lights the path towards a brighter future.220 Smiles at Rose Primary
School: By distributing 220 pairs of shoes, we ensured comfort, improved health, and increased school attendance for our young students.
Faith and Community
Landmark Project: We constructed one of the biggest Madrassah and Jammah Mosque in Tando-Adam, serving as a centre for spiritual enrichment, education, and community gathering. This monumental project fosters faith,knowledge, and strengthens the local community.
Healthcare and Sanitation
Fighting Hunger: Over 2000 food packs brought relief to needy families, improving their nutritional well-being.
Safe Water for All: 100 handpumps and 12 deep solar water wells were installed, providing safe and accessible water to thousands, preventing waterborne diseases and transforming daily life.
Dignity Restored: 6 ladies' toilet facilities built in the desert promoted hygiene and sanitation for women and girls,safeguarding their health and fostering dignity.
Monthly Eye Camps: Regular eye camps provided vision checks and immediate medical support, improving eyesight and overall health.
Empowerment and Support:
Homes of Hope: We built 5 homes for disabled and orphaned individuals, offering them safe shelters,independence, and renewed hope.
Educating Orphans: 10 orphans received the gift of education, and their families were supported with monthly rations, empowering them to break the cycle of poverty.
Widows Empowered: Financial support through monthly stipends was provided to numerous widows, enabling them to meet their basic needs and care for their families with dignity.
Entrepreneurship and Opportunity:
Opening Doors: A shop was opened for a blind family, providing them with income and empowerment.
Food Carts and Sewing Machines: Distributed food carts and sewing machines fostered entrepreneurship and self-sufficiency within communities.
Over 50 Wheelchairs Donated: Mobility and independence were restored to individuals in need through the donation of over 50 wheelchairs.
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.
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:
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.
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.
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.
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:
accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
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
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.
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 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.
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.
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.
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.
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.
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.
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:
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.
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).
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.
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, 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.
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.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
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.
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.
Rose Primary School
Governance costs includes payments to the accountant of £1000+vat for accountancy fees.
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.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.