BOLTON MUSLIM WELFARE TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Charity Number: 1005715
BOLTON MUSLIM WELFARE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Dilaver Valli Gulam Musa Patel Gulam Vali Ahmed Yakub Bhutawala Shafi Ibrahim Patel (Chairman) Dr Liaqat Ali Ibrahim Natha Yakoob Musa Patel Ayyub Youssouf Charity Number: 1005715 Business Address 302 Derby Street Bolton BL3 6LF Independent examiners Stonebridge Accountants 19a Chorley Old Road Bolton BL1 3AH Bankers Lloyds Bank plc 9 — 13 Hotel Street Bolton BL1 1DB
2
BOLTON MUSLIM WELFARE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 4 — 5 |
| Independent examiners' report to the trustees | 6 |
| Statement of financial activities | 7 — 8 |
| Balance sheet | 9 |
| Statement of cash flows | 10 |
| Notes to the financial statements | 11 — 15 |
3
BOLTON MUSLIM WELFARE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the charity's trust deed and applicable law.
Constitution and charitable objects
The Bolton Muslim Welfare Trust is constituted under a trust deed dated 14 October 1991 and is a registered charity number 1005715. The objects of the charity have altered as at 1 September 2007 in that the Charity now rents the original school building to the local authority since the School became a 'State maintained school'. In the year ended 31 March 2015 the charity commenced operation of the Al Nur Supplementary School.
Development, activities and achievements this period
The trustees consider that the performance of the charity this period has been satisfactory.
Bolton Muslim Welfare Trust Al Nur Supplementary School promotes and encourages the nurturing of Islamic Culture, which permeates all aspects of a Muslim's life through the sound development of conduct, appearance, morals and values. We aim to establish a wholesome environment for students that is conducive to building character and strengthening British and Islamic values.
The Supplementary School aims to prepare students to be confident, active and ethical people, serving their communities with a sound understanding of their faith and cultural heritage and fulfilling their roles as successful and responsible citizens in wider society.
Future developments
The charity will continue to rent the property to the local authority whereby the pupils can continue to obtain their teachings, together with the operation of Al Nur Supplementary School.
Transactions and financial position
The statement of financial activities (pages 4 and 5) shows total negative net movement in funds for the year of £317 and the reserves stand at £864,687 in total. Details of movements in fixed assets are set out in note 10 to the accounts.
Reserves
The present level of funding is adequate in order to support the continuation of maintaining the school building. No other significant resources will be called upon in order to maintain the current standards we have set.
Organisational structure
The trustees who served during the period and since the period end are set out at the front of these accounts. Trustees are appointed by the board of trustees.
Risk management
The trustees have examined the strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps are taken to lessen these risks.
Endowment funds
The Endowment fund is a restricted fund which holds fixed assets of the trust.
4
BOLTON MUSLIM WELFARE TRUST
TRUSTEES' REPORT (CONT ...)
FOR THE YEAR ENDED 31 MARCH 2022
Statement of the Trustees' Financial Responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The trustees are required to prepare financial statements for each financial period in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of The Bolton Muslim Welfare Trust and of its incoming resources and application of resources of the charity for that period. In preparing the financial statements, the tristees should follow best practice and:
-
Select suitable accounting policies and apply these consistently;
-
Make judgements and estimates that are reasonable and prudent;
-
Prepare the financial statements on a going concern basis unless it is inappropriate to assume that Bolton Muslim Welfare Trust will continue their activities.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure the financial statements comply with the applicable law, regulations and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Board of Trustees
Shafi Ibrahim Patel
DATE:
Ayyub Youssouf DATE:
Yakoob Musa Patel
DATE:
5
BOLTON MUSLIM WELFARE TRUST
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
I report to the trustees on my examination of the accounts of Bolton Muslim Welfare Trust for the year ended 31 March 2022, which are set out on pages 4 to 12.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trustee's accounts 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 2011 Act.
Independent examiners' statement
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 aspect:
(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
(2) the accounts do not accord with those records; or
(3)the accounts 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.
AFZAL ESSA FCA Stonebridge Accountants 19a Chorley Old Road Bolton BL1 3AH
DATE:
6
BOLTON MUSLIM WELFARE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INC INC & EXP ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2022
| AL NUR SUPPLEMENTARY SCHOOL Income and endowments from: Fee Income Book Income CJRS income Total income and endowments Expenditure on: Book purchases Rates and insurance Rent Wages Sundry Depreciation Heat and Light Total expenditure Net incoming resources Net movement in funds (page 5) PROPERTY RENTAL Income and endowments from: Rental income Other income Total income and endowments Expenditure on: Heat and light Rates and insurance Rent Repairs and maintenance Legal and professional Accountancy fees Advertising Printing postage and stationery Sundry expenses Donations and sponsorship Project Costs Bad and doubtful debts Depreciation Telephone Total resources expended Net income/(expense) Net movement in funds (page 5) |
Unrestricted Funds £ - - - - - - - - - - - - - - 60,000 22,814 82,814 10,244 30,230 1,771 - 4,000 - 224 187 138 13,750 1,600 7,488 - 768 70,400 12,414 12,414 |
Restricted Funds £ 114,675 4,914 961 120,550 1,948 849 9,738 101,820 4,233 296 - 118,884 1,666 1,666 - - - - - - - - - - - - - - - 14,397 - 14,397 -14,397 -14,397 |
Total 2022 £ 114,675 4,914 961 120,550 1,948 849 9,738 101,820 4,233 296 - 118,884 1,666 1,666 60,000 22,814 82,814 10,244 30,230 1,771 - 4,000 - 224 187 138 13,750 1,600 7,488 14,397 768 84,797 -1,983 -1,983 |
Total 2021 £ 109,090 3,141 3,405.00 |
|---|---|---|---|---|
| 115,636 | ||||
| 2,282 819 2,400 96,438 1,302 296 - |
||||
| 103,537 | ||||
| 12,099 | ||||
| 12,099 | ||||
| 60,000 0 |
||||
| 60,000 | ||||
| 4,019 8,436 - 1,323 15,000 1,680 - - 557 10,000 - - 12,159 953 |
||||
| 54,127 | ||||
| 5,873 | ||||
| 5,873 |
7
BOLTON MUSLIM WELFARE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONT...)
FOR THE YEAR ENDED 31 MARCH 2022
| Total net movement in funds (page 4) Al Nur Supplementary School Property Rental Total net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ - 12,414 12,414 325,006 337,420 |
Restricted Funds £ 1,666 -14,397 -12,731 539,998 527,267 |
Total 2022 £ 1,666 -1,983 -317 865,004 864,687 |
Total 2021 £ 12,099 5,873 |
|---|---|---|---|---|
| 17,972 847,032 |
||||
| 865,004 |
The notes on pages 8 to 12 form part of these financial statements.
8
BOLTON MUSLIM WELFARE TRUST
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2022
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS: Amounts falling due within one period 12 Net Current Assets NET ASSETS FUNDS Unrestricted funds 13 Restricted funds 14 |
£ 109,276 146,792 |
2022 £ 641,250 223,437 864,687 337,420 527,267 864,687 |
£ 82,860 191,162 |
2021 £ 654,191 210,813 |
|---|---|---|---|---|
| 256,068 -32,631 |
274,022 -63,209 |
|||
| 865,004 | ||||
| 325,006 539,998 |
||||
| 865,004 |
Approved by the Board of Trustees and signed on their behalf by:
Shafi Ibrahim Patel Ayyub Youssouf DATE: DATE:
Yakoob Musa Patel
DATE:
The notes on pages 8 to 12 form part of these financial statements
9
BOLTON MUSLIM WELFARE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
| Notes Cash flows from operating activities: Cash generated from operations 15 Investing activities: Purchase of property, plant and equipment Change in cash and cash equivalents in the year Cash and cash equivalents brought forward Cash and cash equivalents carried forward |
2022 £ -42,618 -1,752 -44,370 191,162 146,792 |
2021 £ 68,140 -113,663 |
|---|---|---|
| -45,523 236,685 |
||
| 191,162 |
10
BOLTON MUSLIM WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1 ACCOUNTING POLICIES
1.1 Basis of accounting
The financial statements are prepared in accordance with applicable accounting standards using the historical cost convention adjusted for investments, which are stated at market value.
The financial statements have been prepared in accordance with the Statement of Recommended Practice the "Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011".
1.2 Incoming resources
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.
Income from property is included in the period in which it is receivable.
1.3 Resources expended
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT, which cannot be recovered.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Properties 2% Straight line - Computer equipment 20%/33.3% 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 credited or charged to the movement on funds.
11
BOLTON MUSLIM WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONT…)
FOR THE YEAR ENDED 31 MARCH 2022
2 FEE INCOME
| 2 FEE INCOME |
|||
|---|---|---|---|
| Fee income 3 BOOK INCOME Book income 4 AL NUR SUPPLEMENTARY SCHOOL SUPPORT COSTS Book purchase Rent Wages Rates and insurance Heat and light 5 AL NUR SUPPLEMENTARY SCHOOL MANAGEMENT AND ADMINISTRATION Depreciation Sundry expenditure 6 RENTAL INCOME Rentals received 7 OTHER INCOME Sundry income |
Unrestricted Funds £ 60,000 Unrestricted Funds £ 22,814 |
2022 £ 114,675 2022 £ 4,914 2022 £ 1,948 9,738 101,820 849 - 114,355 2022 £ 296 4,233 4,529 2022 £ 60,000 2022 £ 22,814 |
2021 £ 109,090 |
| 2021 £ 3,141 |
|||
| 2021 £ 2,282 2,400 96,438 819 - |
|||
| 101,939 | |||
| 2021 £ 296 1,302 |
|||
| 1,598 | |||
| 2021 £ 60,000 |
|||
| 2021 £ - |
12
BOLTON MUSLIM WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONT…)
FOR THE YEAR ENDED 31 MARCH 2022
| 8 PROPERTY RENTAL SUPPORT COSTS Rates and insurance Repairs and maintenance Heat and light Rent 9 PROPERTY RENTAL MANAGEMENT AND ADMINISTRATION Legal and professional Accountancy fees Sundry expenditure VVUK sponsorship Project Costs Advertising Printing, Postage & Stationery Telephone Bad and doubtful debts Bank Charges Depreciation |
2022 2021 £ £ 30,230 8,436 - 1,323 10,244 4,019 1,771 - 42,245 13,778 2022 2021 £ £ 4,000 15,000 - 1,680 138 557 13,750 10,000 1,600 - 224 - 187 - 768 953 7,488 - 1 - 14,397 12,159 42,553 40,349 |
|---|---|
13
BOLTON MUSLIM WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONT…)
FOR THE YEAR ENDED 31 MARCH 2022
10 TANGIBLE FIXED ASSETS
| COST At 1 April 2021 Additions Disposals At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for the period Disposed in the period At 31 March 2022 NET BOOK VALUES At 31 March 2022 At 31 March 2021 11 DEBTORS Prepayments & accrued income Other debtors 12 CREDITORS: Amounts falling due within one year Other creditors Accruals & deferred income 13 UNRESTRICTED FUNDS 01-Apr-21 Incoming £ £ Unrestricted fund 325,006 82,814 |
Property £ 718,166 1,752 - 719,918 65,162 14,397 - 79,559 640,359 653,004 Outgoing £ -70,400 |
Computer £ 2,633 - - 2,633 1,446 296 - 1,742 891 1,187 2022 £ 35,000 74,276 109,276 2022 £ 98 32,533 32,631 Transfer £ - |
Total £ 720,799 1,752 - |
|---|---|---|---|
| 722,551 | |||
| 66,608 14,693 - |
|||
| 81,301 | |||
| 641,250 | |||
| 654,191 | |||
| 2021 £ 1,739 81,121 |
|||
| 82,860 | |||
| 2021 £ 2,402 60,807 |
|||
| 63,209 | |||
| 31-Mar-22 £ 337,420 |
The trustees are free to use unrestricted funds in accordance with the charitable objectives.
14
BOLTON MUSLIM WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONT…)
FOR THE YEAR ENDED 31 MARCH 2022
| 14 RESTRICTED FUNDS Endowment fund Al Nur Supplementary School |
01-Apr-21 £ 455,114 84,884 539,998 |
Incoming £ - 120,550 120,550 |
Outgoing £ -14,397 -118,884 -133,281 |
31-Mar-22 £ 440,717 86,550 |
|---|---|---|---|---|
| 527,267 |
The endowment fund represents fixed assets held by the charity. Additions to fixed assets are added to the fund and the depreciation on those assets is charged against the fund.
15 RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net movement in funds Add back depreciation charge (Increase)/Decrease in debtors Increase/(Decrease) in creditors Net cash used in operating activities |
2022 £ -317 14,693 -26,416 -30,578 -42,618 |
2021 £ 17,972 12,455 32,429 5,284 |
|---|---|---|
| 68,140 |
15