## **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