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2023-10-31-accounts

CHARITY REGISTRATION NUMBER: 1001136

WISE (Wycombe Islamic Society) Unaudited Financial Statements

31 October 2023

WISE (Wycombe Islamic Society) Financial statements Year ended 31 October 2023

Pages
Trustees' annual report 1 to 4
Independent examiner's report to the trustees 5
Statement of financial activities 6
Statement of financial position 7
Notes to the financial statements 8 to 13
The following pages do not form part of the financial statements
Detailed statement of financial activities 14 to 15

WISE (Wycombe Islamic Society) Trustees' annual report Year ended 31 October 2023

The trustees are pleased to present their report alongside the unaudited financial statements for the year ended 31 October 2023.

Reference and administrative details

Registered charity name

WISE (Wycombe Islamic Society)

Charity registration number

1001136

Principal office

Wycombe Islamic Centre

St Marks Close High Wycombe HP13 6GN Buckinghamshire

The trustees

Mr A Iqbal Mr A Waheed Mr R Shafi

Independent examiner

UY Accountants Ltd 26 Archery Close Harrow Middlesex HA3 7RT

Introduction

This year has been particularly significant as we returned to a fuller schedule of face-to-face activities, reminiscent of pre-pandemic times. The continued growth of WISE’s programs and services demonstrates our ongoing commitment to serving the needs of the local community while adhering to our core objectives of advancing Islamic knowledge, alleviating poverty, and fostering social cohesion.

Structure, governance and management

Organisational structure

WISE, established in 1991 and based in High Wycombe, is a UK-registered charitable trust managed by three trustees. The charity operates with the invaluable support of dedicated volunteers and two permanent employees.

The employees include:

1

WISE (Wycombe Islamic Society) Trustees' annual report (continued) Year ended 31 October 2023

Governance and Oversight

The trustees meet regularly to review the charity's activities, set strategic direction, and ensure compliance with legal and regulatory requirements. They work closely with the Centre Manager and the Imam to align the charity's operations with its objectives. Volunteers are integral to the success of WISE, supporting everything from administrative tasks to the execution of community events and educational programs.

Objectives and activities

The primary objectives of WISE are to advance the religion of Islam and Islamic knowledge, relieve poverty, and serve the needs of the local community. These objectives guide all our activities, from daily prayers and religious classes to community service initiatives and global humanitarian aid.

In planning our activities, we continue to refer to the Charity Commission's guidance on public benefit. This ensures that our efforts not only align with our mission but also provide tangible benefits to the broader community.

Achievements and performance

Review of activities and future plans

Throughout 2023, WISE has remained steadfast in its commitment to serving both the local and global communities. Our activities are diverse, reflecting the wide-ranging needs of the people we serve. We have successfully reinstated many in-person activities that had been paused or moved online due to the pandemic. This return to face-to-face engagement has been warmly welcomed by our community members, who appreciate the opportunities for direct interaction and communal worship.

Wycombe Islamic Centre and The Hive

The Wycombe Islamic Centre, also known as Masjid as-Salam, continues to be the heart of our operations. Purpose-built, it not only serves as a place of worship but also functions as a hub for community activities, classes, and events. The centre’s accessibility features, including on-site parking, wheelchair access, and a lift, ensure that it is welcoming to all, including the elderly and disabled.

The Hive, our community facility established in 2018, has played a pivotal role in fostering social cohesion. It provides a dynamic space for people of all faiths and backgrounds to meet and engage in various activities. However, despite our best efforts, the Mosaic Café at The Hive has not been as popular as anticipated. We are currently reviewing the situation to determine how best to utilise this space in the future.

Educational and Religious Activities

Education remains a cornerstone of our work. The WISE Learning Centre, Wycombe Islamic Centre and Hive offer a range of classes, from Quranic studies and Islamic teachings to subjects like English and Maths. These classes cater to all ages and abilities, providing essential knowledge in both religious and secular fields.

This year, we introduced several new educational programs, including the Friday night lecture series on "Morals and Manners in Islam," which has attracted significant interest. The History of Palestine lecture was another highlight, offering a deep dive into an important and timely topic.

Our Arabic and Quran classes are well-attended, with sessions designed for varying levels of proficiency, from beginners to advanced students. These classes, held both online and in-person, are open to men, women, and children. Additionally, our Islamic seminars have covered essential topics such as Aqeedah (Islamic creed), Fiqh (Islamic jurisprudence), Tajweed (Quranic recitation), and Tafseer (Quranic exegesis).

2

WISE (Wycombe Islamic Society) Trustees' annual report (continued) Year ended 31 October 2023

Community and Social Activities

WISE has always prioritised community engagement, and this year was no exception. We were thrilled to reintroduce our open hour coffee evenings every Wednesday, offering a casual, welcoming environment for Muslims and non-Muslims alike to gather and converse. The Big Elders Lunch Club has grown in popularity, providing a much-needed social outlet for our senior members.

WISE also launched the Wise Wellness initiative, a comprehensive program designed to improve the health and well-being of our community members. This initiative includes special sessions on mental health, addressing a critical need in today's society.

One of the most successful events of the year was "A Night with the Quran," our summer conference that drew large crowds and featured renowned speakers. Our annual "Eid in the Park" event was another highlight, attracting over 3,000 attendees. The event featured breakfast, a funfair, and various activities, making it our largest and most successful Eid celebration to date.

Furthermore, we launched the Wise Muslim Marriage Network, a new service aimed at supporting Muslim marriages in High Wycombe. This initiative seeks to provide a platform for Muslims seeking marriage, offering guidance and support to ensure successful, lasting unions.

Global Humanitarian Efforts: WISE Welfare

WISE Welfare, our humanitarian wing established in 2010, continues to make a significant impact both locally and globally. This year, we supported numerous international aid projects, including:

Locally, our WISE Hardship Fund provided vital support to individuals and families facing economic difficulties. We also contributed to local initiatives such as Janie's Homeless Friends, One Can Trust, and the Wycombe Food Hub.

3

WISE (Wycombe Islamic Society) Trustees' annual report (continued) Year ended 31 October 2023

Youth Engagement and Sports

Youth engagement remains a priority for WISE. Our youth wings, Wycombe Islamic Network (WIN) for boys and ARISE for girls, continued to offer programs that engage young people in positive activities. Saturday Night Buzz has been particularly successful, offering a fun and educational environment for children to learn about their religion while participating in games and activities.

ARISE has focused on empowering young Muslim girls through sessions that tackle issues such as defending their faith, race, discrimination, and self-care. These programs aim to build confidence and resilience in our youth, preparing them to take on leadership roles within the community.

In addition to these programs, WISE also runs the 28th Wycombe Muslim Scout group and is excited to announce the relaunch of the Girl Scouts. These initiatives provide young people with opportunities to develop life skills, build friendships, and engage in outdoor activities.

General Operations and Events

Our Centre Manager continues to play a crucial role in ensuring the smooth operation of all WISE activities. This year, we successfully organised a comprehensive holiday program for the community and hosted our second WISE Winter Conference in December 2023. The conference, largely organized by our young adults, was a resounding success, featuring inspiring talks from worldrenowned speakers.

WISE's regular activities, including daily and Jumuah prayers, have seen increased attendance, with over 400 participants regularly joining Friday prayers. We continue to provide facilities for both men and women, ensuring that everyone has the opportunity to participate in communal worship.

Financial Review

The net surplus of the charity is detailed in this report. The trustees are confident that the accumulated funds, combined with ongoing support from the local community, will be sufficient to meet the charity's objectives in the coming year.

Condolences

This year, our community faced a heartbreaking loss with the passing of a young teenager during a Saturday evening youth event. Our deepest condolences go out to the family and friends of the departed. This tragedy has deeply affected us all, and we have been providing support to those who were present and to the wider community as we navigate through this difficult time. May Allah grant patience and strength to the bereaved family and may the young soul rest in peace in the highest ranks of Jannah.

Conclusion

The trustees are proud of the progress WISE has made in 2023. Despite the challenges posed by the pandemic, we have continued to expand our services and strengthen our community. We look forward to building on this success in the year ahead, with new initiatives and continued dedication to our mission.

The trustees' annual report was approved on 30 August 2024 and signed on behalf of the board of trustees by:

________

Abid Waheed Treasurer

4

WISE (Wycombe Islamic Society) Independent examiner's report to the trustees Year ended 31 October 2023

I report to the trustees on my examination of the financial statements of WISE (Wycombe Islamic Society) ('the charity') for the year ended 31 October 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material 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 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

________ Usman Naseer, FCA UY Accountants Ltd 26 Archery Close Harrow Middlesex HA3 7RT

Dated: 30 August 2024

5

WISE (Wycombe Islamic Society) Statement of Financial Activities Year ended 31 October 2023

Note
Income and endowments
Voluntary income
4
Charitable activities
5
Investment income
6
Total income
Expenditure Charitable activities:
Relief of poverty (WISE Welfare)
7
Grant paid
Advance Islam and Islamic Education:
Expenditure on other resources
expended
8
Total expenditure
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
131,665
27,507
46,370
205,542
-
(1,269)
(171,073)
(172,342)
33,200
(7,500)
25,700
2,190,324
2,216,024		 2023
Restricted
funds
£
545,000
-
-
545,000

(451,432)
-
(226)
(451,658)
93,342
7,500
100,842
560,566
661,408		 Total
funds
£
676,665
27,507
46,370
750,542
(451,432)
(1,269)
(171,299)
(624,000)
126,542
-
126,542
2,750,890
2,877,432		 2022
Total funds
£
645,066
26,581
50,850
722,497
(463,456)
-
(180,994)
(644,450)
78,047

-
78,047
2,672,843
2,750,890

6

WISE (Wycombe Islamic Society) Statement of Financial Position 31 October 2023

Note
Fixed assets
Tangible fixed assets
13
Current assets
Cash at bank and in hand
Creditors: amount falling due within one year
14
Net current assets
Total assets less current liabilities
Net assets
Funds of the charity
Restricted funds
Unrestricted funds
Total charity funds
16		 2023
£
1,918,101
960,712
(1,381)
959,331
2,877,432
2,877,432
661,408
2,216,024
2,877,432		 2022
£
1,932,761
821,416
(3,287)
818,129
2,750,890
2,750,890
560,566
2,190,324
2,750,890

These financial statements were approved by the board of trustees and authorised for issue on 30 August 2024, and are signed on behalf of the board by:

Mr A Iqbal Mr A Waheed
Trustee Trustee

7

WISE (Wycombe Islamic Society) Notes to the Financial Statements Year ended 31 October 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Wycombe Islamic Centre, St Marks Close, High Wycombe, HP13 6GN, Buckinghamshire.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the charity; (b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.

8

WISE (Wycombe Islamic Society) Notes to the Financial Statements (continued) Year ended 31 October 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

9

WISE (Wycombe Islamic Society) Notes to the Financial Statements (continued) Year ended 31 October 2023

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Voluntary income

Donations
Public and book shop donations
WISE Welfare donations
Grants
Grants receivable
Donations
Public and book shop donations
WISE Welfare donations
Grants
Grants receivable		 Unrestricted
Funds
£
118,780
-
12,885
131,665
Unrestricted
Funds
£
96,728
–
29,100
125,828		 Restricted
Funds
£
23,896
516,144
4,960
545,000
Restricted
Funds
£
30,853
488,385
–
519,238		 Total Funds
2023
£
142,676
516,144


17,845
676,665
Total Funds
2022
£
127,581
488,385
29,100
645,066

10

WISE (Wycombe Islamic Society) Notes to the Financial Statements (continued) Year ended 31 October 2023

5. Charitable activities

5. Charitable activities
HMRC - tax credit
6. Investment income
Rental income
7. Costs of charitable activities
Donations paid
Donations paid		 Unrestricted
Funds
£
27,507
Unrestricted
Funds
£
46,370		 Total Funds
2023
£
27,507
Total Funds
2023
£
46,370
Unrestricted
Funds
£
-
Unrestricted
Funds
£
1,711		 Unrestricted
Funds
Total Funds
2022
£
£
26,581
26,581
Unrestricted
Funds
Total Funds
2022
£
£
50,850
50,850
Restricted
Funds
Total Funds
2023
£
£
451,432
451,432
Restricted
Funds
Total Funds
2022
£
£
461,745
463,456		 Total Funds
2022
£
26,581
Total Funds
2022
£
50,850
Unrestricted
Funds
£
-
Unrestricted
Funds
£
1,711		 Restricted
Funds
£
451,432
Restricted
Funds
£
461,745
Total Funds
2022
£
463,456

During the year WISE Welfare made donations to Bangladesh: £36,560 (2022: £29,000), Uganda: £82,215 (2022: £93,315), Egypt: £15,765 (2022: £15,350), India: £26,000 (2022: £16,236), Afghanistan: £nil (2022: £37,000), Morocco: £38,870 (2022: £26,100), Nigeria: £62,858 (2022: £38,413), Pakistan: £48,700 (2022: £110,594), Palestine: £50,900 (2022: £44,465), Lebanon: £nil (2022: £12,000), UK: £20,818 (2022: £9,583), Turkey: £49,800 (2022: £12,000) and Yemen: £18,946 (2022: £19,400).

8. Expenditure on charitable activities
Governance costs and other resources
expended
Governance costs and other resources
expended
9. Net income		 Unrestricted
Funds
£
171,073
Unrestricted
Funds
£
179,841		 Restricted
Funds
£
226
Restricted
Funds
£
1,153		 Total Funds
2023
£
171,299
Total Funds
2022
£
180,994
Net income is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible fixed assets 34,156 30,813

11

WISE (Wycombe Islamic Society) Notes to the Financial Statements (continued) Year ended 31 October 2023

10. Independent examination fees

Fees payable to the independent examiner for:
Independent examination of the financial statements		 2023
£
-		 2022
£
120

11. Staff costs

The average head count of employees during the year was 2 (2021: 2). The average number of full-time equivalent employees during the year is analysed as follows:

Imams
Manager		 2023
No.
1
1
2		 2022
No.
1
1
2

No employee received employee benefits of more than £60,000 during the year.

12. Trustee remuneration and expenses

All trustees are volunteers and render their services free of charge. No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

13. Tangible fixed assets

Cost
At 1 November 2022
Additions
31 October 2023
Depreciation
At 1 November 2022
Charge for the year
At 31 October 2023
Carrying amount
At 31 October 2023
At 31 October 2022
reditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors		 Land and
buildings
£
2,082,247
-
2,082,247
160,585
28,037
188,622
1,893,625
1,921,662		 Fixtures and
fittings
£
52,381
19,496
71,877
41,282
6,119
47,401
24,476
11,099
2023
£
-
-
1,142
239
1,381		 Total
£
2,134,628
19,496
2,154,124
201,867
34,156
236,023
1,918,101
1,932,761
2022
£
121
120
2,238
808
3,287

14. Creditors: amounts falling due within one year

12

WISE (Wycombe Islamic Society) Notes to the Financial Statements (continued) Year ended 31 October 2023

15. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,522 (2022: £970).

16. Analysis of charitable funds

Unrestricted funds

At
1 November
2022
£
General funds
2,190,324
At
1 November
2021
£
General funds
2,183,285
Restricted Fund
At
1 November
2022
£
Restricted funds
560,566
At
1 November
2021
£
Restricted funds
489,558
Analysis of net assets between funds
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets		 Income Expenditure
£
£
205,542
(172,342)
Income
Expenditure
£
£
203,259
(181,552)
Income Expenditure
£
£
545,000
(451,658)
Income
Expenditure
£
£
519,238
(462,898)
Unrestricted
Funds
£
1,918,101
299,304
(1,381)
2,216,024
Unrestricted
Funds
£
1,932,761
260,850
(3,287)
2,190,324		 Income Expenditure
£
£
205,542
(172,342)
Income
Expenditure
£
£
203,259
(181,552)
Income Expenditure
£
£
545,000
(451,658)
Income
Expenditure
£
£
519,238
(462,898)
Unrestricted
Funds
£
1,918,101
299,304
(1,381)
2,216,024
Unrestricted
Funds
£
1,932,761
260,850
(3,287)
2,190,324		 Transfer
between
funds
£
(7,500)
Transfer
between
funds
£
(14,668)
Transfer
between
funds
£
7,500
Transfer
between
funds
£
14,668
Restricted
Funds
£
-
661,408
-
661,408
Restricted
Funds
£
–
560,566
–
560,566		 At
31 October 2023
£
2,216,024
At
31 October 2022
£
2,190,324
At
31 October 2023
£
661,408
At
31 October 2022
£
560,566
Total Funds
2023
£
1,918,101
960,712
(1,381)
2,877,432
Total Funds
2022
£
1,932,761
821,416
(3,287)
2,750,890

17. Analysis of net assets between funds

13

WISE (Wycombe Islamic Society) Management Information Year ended 31 October 2023

The following pages do not form part of the financial statements.

14

WISE (Wycombe Islamic Society) Detailed Statement of Financial Activities Year ended 31 October 2023

Income and endowments
Donations and legacies
Public and book shop donations
WISE Welfare donations
Grants receivable
Charitable activities
HMRC - tax credit
Investment income
Rental income
Total income
Expenditure
Charitable activities
Relief of poverty (WISE Welfare)
Grants paid
Expenditure on charitable activities
Wages and salaries
Pension costs
Rent and rates
Light and heat
Repairs and maintenance
Insurance
PPS, books and activities costs
Communications and IT
Voluntary and sundry expenses
Bank charges
Legal and professional fees
Depreciation
Total expenditure
Net income		 2023
£
142,676
516,144
17,845
676,665
27,507
46,370
750,542
(451,432)
(1,269)
(452,701)
(45,860)
(2,522)
(6,229)
(17,939)
(19,550)
(3,425)
(30,552)
(2,605)
(6,554)
(685)
(1,222)
(34,156)
(171,299)
(624,000)
126,542		 2022
£
127,581
488,385
29,100
645,066
26,581
50,850
722,497
(463,456)
-
(463,456)
(44,656)
(970)
(5,037)
(17,841)
(37,912)
(3,451)
(24,579)
(2,062)
(7,540)
(1,711)
(4,420)
(30,815)
(180,994)
(644,450)
78,047

15