OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Bolton Muslim Welfare Trust Trustees' Report and Financial Statements For the Year Ended 31 March 2023 Charity Number: 1005715

STONEBRIDGE ACCOUNTANTS 19A CHORLEY OLD ROAD LANCASHIRE BOLTON BL1 3AD

Bolton Muslim Welfare Trust

Contents Summary

For The Year Ending 31 March 2023

Contents Page
Legal and administration information 3
Report of the trustees 4
Report of the independent examiner 7
Statement of financial activities 8
Balance sheet 9
Notes forming part of the financial statements 10-14

2

Bolton Muslim Welfare Trust

Legal and Administration Information

For The Year Ending 31 March 2023

Trustees Name Office Dilaver Valli Vice Chairman 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

Bankers

Lloyds Bank Plc 9-13 Hotel Street Bolton Lancashire BL1 1DB

Independent Examiner

Stonebridge Accountants & Business Advisors 19A Chorley Old Road Bolton Lancashire BL1 3AD

3

Bolton Muslim Welfare Trust

Report of the Trustees

For The Year Ending 31 March 2023

Report of the trustees for the year ended 31 March 2023

Assalamaulaikum Warahmatullahe Wabarakatu

The trustees present their report along with the financial statement for the charity for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 10 and comply with the charity’s constitution and applicable law.

Constitution and charitable objects

The Bolton Muslim Welfare Trust is constituted under a trust deed date 14 October 1991 and registered with The Charity Commissioners under 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 operations 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 enviroment 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 continueto 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 net movement in funds for the year of £ 50,756 and the reserves stand at £ 915,443 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

Report of the Trustees

For The Year Ending 31 March 2023

Statement of the Trustees' Financial Responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are required to prepare financial statements for each financial period in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Stnadards and applicable law). The financial statemenst are required by law to give a true and fair view of the state of affiars of The Bolton Muslim Welfare Trust and of its incoming resources of the charity for that period. In preparing the financial statements, the trustees should follow best practice and:

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 that 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.

Approved by the Trustees of Bolton Muslim Welfare Trust and signed on its behalf by:

Shafi Ibrahim Patel Ayyub Youssouf (Chairman)

Yakoob Musa Patel

Date: 22nd November 2023

6

Bolton Muslim Welfare Trust

Independent Examiner's Report to the Members of Bolton Muslim Welfare Trust, Bolton

We report on the accounts of the Trust for the year ended 31 March 2023, which are set out on pages 8 to 14.

Respective responsibilities of the Trustees and Independent Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is our responsibility to:

Basis of Independent Examiner's Report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners.

An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records.

It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion or otherwise as to whether the accounts present a "true and fair view"; and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with our examination, no matter has come to our attention:

  1. Which gives us reasonable cause to believe that, in any material respect, the requirements:

  2. (a) to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or

  4. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

__________ Honorary Independent Examiner

Afzal Essa ACA Stonebridge Accountants 19a Chorley Old Road Bolton BL1 3AD

21st November 2023

7

Bolton Muslim Welfare Trust

Statement of Financial Activities

For The Year Ending 31 March 2023

Notes
Incoming resources
Incoming resources from generated funds
Al Nur Supplementary School
3
Incoming resources from charitable activities
Property Rental
4
Other incoming resources
Total incoming resources
Resources expended
Al Nur Supplementary School
5
Property Rental
6
Total resources expended
Net Movement in Funds
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
funds
£
-
95,569
-
95,569
-
41,216
41,216
54,353
334,920
389,273		 Restricted
income funds
£
128,158
-
-
128,158
116,835
14,920
131,755
(3,597)
529,767
526,170		 2023
Total
£
128,158
95,569
-
223,727
116,835
56,136
172,971
50,756
864,687
915,443		 2022
Total
£
120,551
82,814
-
203,365
118,885
84,797
203,682
(317)
865,004
864,687

8

Bolton Muslim Welfare Trust

Balance Sheet as at 31 March 2023

----- Start of picture text -----
Unrestricted Restricted 2023 2022
Notes funds income funds Total Total
£ £ £ £
Fixed Assets
Tangible assets 9 - 652,121 652,121 641,250
Total Fixed Assets - 652,121 652,121 641,250
Current Assets
Debtors and Prepayments 10 96,354 - 96,354 109,276
Cash at bank and in hand 124,747 86,366 211,113 146,794
Total Current Assets 221,101 86,366 307,467 256,070
Creditors: amounts falling due within one year 11 33,708 10,437 44,145 32,633
Net Current Assets 187,393 75,929 263,322 223,437
Net Assets 187,393 728,050 915,443 864,687
Funds of the Charity
Restricted funds - 526,170 526,170 529,767
Unrestricted funds 389,273 - 389,273 334,920
Total Funds 389,273 526,170 915,443 864,687
----- End of picture text -----

Signed by two of the trustees on behalf of all the trustees on

Shafi Ibrahim Patel Ayyub Youssouf Yakoob Musa Patel (Chairman) (Chairman)

Date: 22nd November 2023

9

Bolton Muslim Welfare Trust

Notes forming part of the Financial Statements

For The Year Ending 31 March 2023

1. Principal Accounting Policies

(a) Basis of accounting

These accounts have been prepared on the basis of historical cost (except that investments are shown at market value) in accordance with Accounting Standards and with the Charities Act 2011.

(b) Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

(c) Changes to previous accounts

No changes have been made to accounts for previous years.

**2. ** Accounting policies
INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources - the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
- the monetary value can be measured with sufficient reliably.
Incoming resources with Where incoming resources have related expenditure (as with fund raising or contract
related expenditure income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional
entitlement to the resources.
Tax reclaims on Incoming resources from tax reclaims are included in the SoFA at the same time as the
donations and gifts gift to which they relate.
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or
the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold
or distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources
when receivable.
Donated services and These are only included in incoming resources (with an equivalent amount in resources
facilities expended) where the benefit to the charity is reasonably quantifiable, measurable and
material. The value placed on these resources is the estimated value to the charity of the
service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described
in the trustees' annual report.
Investment income This is included in the accounts when receivable.
Investment gains and This includes any gain or loss on the sale of investments and any gain or loss resulting
losses from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation
committing the charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of
trustee meetings and cost of any legal advice to trustees on governance or constitutional
matters.
Support costs Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, e.g. allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for These are capitalised if they can be used for more than one year, and cost at least £250.
use by charity They are valued at cost or, if gifted, at the value to the charity on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the
year end. Other investment assets are included at trustees' best estimate of market value.
Depreciation Tangible assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost less estimated residual value of each asset over its
expected useful life, as follows:
Land & Buildings
2% Straight line
Computer Equipment
20% Straight line
Office Equipment
10% Straight line

10

Bolton Muslim Welfare Trust

Notes forming part of the Financial Statements

For The Year Ending 31 March 2023

3. AL NUR SUPPLEMENTARY SCHOOL

Unrestricted Restricted
funds
income funds
£
£
Book Monies & Other Sales
-
4,007
Fees income
-
124,050
Community Project Grants
-
-
Covid & HMRC JRS Grants
-
-
Other Income
-
101
-
128,158
4. PROPERTY RENTAL
Unrestricted
Restricted
£
£
Community Project Grants
-
-
Deposit Account profit
-
-
Insurance and Service Recharge
35,569
-
Rental Income
60,000
-
Other Income
-
-
95,569
-		 2023
Total
£
4,007
124,050
-
-
101
128,158
Total
£
-
-
35,569
60,000
-
95,569		 2022
Total
£
4,914
114,675
-
816
146
120,551
Total
£
2,500
-
19,164
60,000
1,150
82,814

11

Bolton Muslim Welfare Trust

Notes forming part of the Financial Statements

For The Year Ending 31 March 2023

5. AL NUR SUPPLEMENTARY SCHOOL COSTS

Advertising, promotion, entertainment
Books & Literature
Depreciation
Employee costs
Employers NI
Exam Prizes & Gifts
Function and meeting costs
Hall Hire
Insurance
Other direct costs
Printing postage and stationery
Rent
Software and IT costs
Telephone Expenses
Training & Courses		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
£
96
1,548
296
101,236
34
3,504
115
800
905
262
181
7,550
80
228
-
116,835		 2023
Total
£
96
1,548
296
101,236
34
3,504
115
800
905
262
181
7,550
80
228
-
116,835		 2022
Total
£
96
1,802
296
101,792
28
2,261
488
800
849
147
36
9,738
80
192
280
118,885

6. PROPERTY RENTAL COSTS

Accountants fees
Advertising
Bad and doubtful debts
Bank charges
Depreciation
Donations and sponsorships
Heat & Light
Insurance
Meeting Costs
Other professional fees
Printing postage and stationery
Project Costs
Rates and water
Rent
Repairs and maintenance
Software and IT costs
Sundry
Telephone
Training & Courses		 Unrestricted
£
240
132
-
-
-
5,745
-
18,254
-
13,495
275
1,100
-
-
1,243
14
18
-
700
41,216		 Restricted
£
-
-
-
-
14,920
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14,920		 Total
£
240
132
-
-
14,920
5,745
-
18,254
-
13,495
275
1,100
-
-
1,243
14
18
-
700
56,136		 Total
£
-
224
7,488
1
14,397
13,750
10,244
30,230
138
4,000
187
1,600
-
1,771
-
-
-
767
-
84,797

12

Bolton Muslim Welfare Trust

Notes forming part of the Financial Statements

For The Year Ending 31 March 2023

7. Details of certain items of expenditure

7.1 Trustee expenses

Trustees are not remunerated for their services and there were no out of pocket expenses paid this year.

7.2 Fees for Independent examination of the accounts

The accounts are being independently examined this year, and the independent examiner has been paid fees of £ NIL for their services.

8. Paid Employees

8.1 Staff costs

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Gross wages and salaries|101,236|101,792| |Employer's national insurance costs|34|28| |-|-| |Employer's pension costs| |-|-| |Redundancy costs| |101,270|101,820|

----- End of picture text -----

8.2 Average number of employees in the year.

----- Start of picture text -----
|||| |---|---|---| |Charitable Activities|2023|2022| |40|40|

----- End of picture text -----

9. Tangible fixed assets

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Land &|Computer|Office|Fixtures &| |Buildings|Equipment|Equipment|Furnishings|Total| |£|£|£|£|£| |Cost| |-|-| |At 1 April 2022|719,918|2,633|722,551| |Additions|26,087|-|-|-|26,087| |-|-|-|-|-| |Disposals| |At 31 March 2023|746,005|2,633|-|-|748,638| |Depreciation| |-|-| |At 1 April 2022|79,559|1,742|81,301| |Charge for the period|14,920|296|-|-|15,216| |-|-|-|-|-| |Disposals| |At 31 March 2023|94,479|2,038|-|-|96,517| |Net book value| |At 31 March 2023|651,526|595|-|-|652,121| |At 31 March 2022|640,359|891|-|-|641,250|

----- End of picture text -----

13

Bolton Muslim Welfare Trust

Notes forming part of the Financial Statements

For The Year Ending 31 March 2023

10.
Debtors and Prepayments
Debtors
Other Debtors
Prepayments
11.
Creditors: amounts falling due within one year
Accruals
Deferred Income
Other Creditors
Creditors		 2023
£
46,961
49,393
-
96,354
2023
£
9,437
25,000
9,604
104
44,145		 2022
£
38,552
35,724
35,000
109,276
2022
£
22,383
-
10,151
99
32,633

No person or organisation holds any security over the assets of the society.

14