Bolton Muslim Welfare Trust Trustees' Report and Financial Statements For the Year Ended 31 March 2024 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 2024
| 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 |
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Bolton Muslim Welfare Trust
Legal and Administration Information
For The Year Ending 31 March 2024
Trustees
Name Office Dilaver Valli Vice Chairman Gulammohmed Moosa Ahmed Patel Gulam Valli Ahmed Shafi Ibrahim Patel Chairman Dr Liaqat Ali Ibrahim Natha Yakoob Musa Patel (Died on 27/03/2024) Ayyub Youssouf Muhammed Adam (Appointed 22/11/2023)
Charity Number 1005715
Business Address
Abbey & Co Associates 1st Floor, Abbey House 270-272 Lever Street Bolton BL3 6PD
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
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Bolton Muslim Welfare Trust
Report of the Trustees
For The Year Ending 31 March 2024
Report of the trustees for the year ended 31 March 2024
Assalamaulaikum Warahmatullahe Wabarakatu
The trustees present their report along with the financial statement for the charity for the year ended 31 March 2024. 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 £ 42,732 and the reserves stand at £ 958,173 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.
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Bolton Muslim Welfare Trust
Report of the Trustees
For The Year Ending 31 March 2024
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:
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Select suitable accounting policies and apply them consistently
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Observe the methods and principles in Charities SORP
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Make judgements and estimates that are reasonably prudent
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State whether applicable accounting standard have been followed, subject to any material departures disclosed and explained in the financial statements, and
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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 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 Dr Liaqat Ali Ibrahim Natha (Chairman)
Date: 20th January 2025
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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 2024, 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:
-
examine the accounts (under section 145 of the 2011 Act);
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to follow the procedures laid down in the General Directions given by the Charity Commissioners
(under section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to our attention.
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:
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Which gives us reasonable cause to believe that, in any material respect, the requirements:
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(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(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
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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
19th January 2025
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Bolton Muslim Welfare Trust
Statement of Financial Activities
For The Year Ending 31 March 2024
| 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 Adjustment in Funds Total Funds Brought Forward Total Funds Carried Forward |
Unrestricted funds £ - 81,254 - 81,254 - 22,134 22,134 59,120 (206,302) 389,273 242,091 |
Restricted income funds £ 136,450 3,579 - 140,029 141,496 14,920 156,416 (16,387) 206,302 526,170 716,085 |
2024 Total £ 136,450 84,833 - 221,283 141,496 37,054 178,550 42,733 - 915,443 958,176 |
2023 Total £ 128,158 81,254 - |
|---|---|---|---|---|
| 209,412 | ||||
| 116,835 56,136 |
||||
| 172,971 | ||||
| 36,441 - 865,004 |
||||
| 901,445 |
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Bolton Muslim Welfare Trust
Balance Sheet as at 31 March 2024
| Notes Fixed Assets Tangible assets 9 Total Fixed Assets Current Assets Debtors and Prepayments 10 Cash at bank and in hand Total Current Assets Creditors: amounts falling due within one year 11 Net Current Assets Creditors: amounts falling due after one year 12 Net Assets Funds of the Charity Restricted funds Unrestricted funds Total Funds |
Unrestricted funds £ - - 33,311 222,104 255,415 13,324 242,091 - - 242,091 - 242,091 242,091 |
Restricted income funds £ 637,543 637,543 52,999 119,595 172,594 29,042 143,552 65,010 65,010 716,085 716,085 - 716,085 |
2024 Total £ 637,543 637,543 86,310 341,699 428,009 42,366 385,643 65,010 65,010 958,176 716,085 242,091 958,176 |
2023 Total £ 652,121 |
|---|---|---|---|---|
| 652,121 | ||||
| 96,354 211,113 |
||||
| 307,467 | ||||
| 44,145 | ||||
| 263,322 | ||||
| - | ||||
| - | ||||
| 915,443 | ||||
| 526,170 389,273 |
||||
| 915,443 |
Signed by three of the trustees on behalf of all the trustees on
Shafi Ibrahim Patel Ayyub Youssouf Dr Liaqat Ali Ibrahim Natha (Chairman) Date: 20th January 2025
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Bolton Muslim Welfare Trust
Notes forming part of the Financial Statements
For The Year Ending 31 March 2024
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
| 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 |
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Bolton Muslim Welfare Trust
Notes forming part of the Financial Statements
For The Year Ending 31 March 2024
3. AL NUR SUPPLEMENTARY SCHOOL
| Book Monies & Other Sales Fees income Community Project Grants Covid & HMRC JRS Grants Other Income 4. PROPERTY RENTAL Community Project Grants Fundrasing and Donations Insurance and Service Recharge Rental Income Other Income |
Unrestricted funds £ - - - - - - Unrestricted £ - - 12,504 68,750 - 81,254 |
Restricted income funds £ 3,401 131,109 - - 1,940 136,450 Restricted £ - 3,579 - - - 3,579 |
2024 Total £ 3,401 131,109 - - 1,940 136,450 Total £ - 3,579 12,504 68,750 - 84,833 |
2023 Total £ 4,007 124,050 - - 101 |
|---|---|---|---|---|
| 128,158 | ||||
| Total £ - - 12,504 68,750 - |
||||
| 81,254 |
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Bolton Muslim Welfare Trust
Notes forming part of the Financial Statements
For The Year Ending 31 March 2024
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 £ 115 1,716 456 122,444 14 4,490 1,168 850 1,087 735 112 7,667 80 262 300 141,496 |
2024 Total £ 115 1,716 456 122,444 14 4,490 1,168 850 1,087 735 112 7,667 80 262 300 141,496 |
2023 Total £ 96 1,548 296 101,236 34 3,504 115 800 905 262 181 7,550 80 228 - |
|---|---|---|---|---|
| 116,835 |
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 £ - 618 - - - 100 (2,665) 21,903 - - - 1,170 - 1,008 - - - - - 22,134 |
Restricted £ - - - - 14,920 - - - - - - - - - - - - - - 14,920 |
Total £ - 618 - - 14,920 100 (2,665) 21,903 - - - 1,170 - 1,008 - - - - - 37,054 |
Total £ 240 132 - - 14,920 5,745 - 18,254 - 13,495 275 1,100 - - 1,243 14 18 - 700 |
|---|---|---|---|---|
| 56,136 |
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Bolton Muslim Welfare Trust
Notes forming part of the Financial Statements
For The Year Ending 31 March 2024
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
| Gross wages and salaries Employer's national insurance costs Employer's pension costs Redundancy costs 8.2 Average number of employees in the year. Charitable Activities Tangible fixed assets Land & Buildings £ Cost At 1 April 2023 746,005 Additions - Disposals - At 31 March 2024 746,005 Depreciation At 1 April 2023 94,479 Charge for the period 14,920 Disposals - At 31 March 2024 109,399 Net book value At 31 March 2024 636,606 At 31 March 2023 651,526 |
Computer Equipment £ 2,633 798 - 3,431 2,038 456 - 2,494 937 595 |
Office Equipment £ - - - - - - - - - - |
2024 £ 122,444 14 - - 122,458 2024 49 Fixtures & Furnishings £ - - - - - - - - - - |
2023 £ 101,236 34 - - |
|---|---|---|---|---|
| 101,270 | ||||
| 2023 40 |
||||
| Total £ 748,638 798 - |
||||
| 749,436 | ||||
| 96,517 15,376 - |
||||
| 111,893 | ||||
| 637,543 | ||||
| 652,121 |
9. Tangible fixed assets
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Bolton Muslim Welfare Trust
Notes forming part of the Financial Statements
For The Year Ending 31 March 2024
| 10. Debtors and Prepayments Debtors Other Debtors Prepayments 11. Creditors: amounts falling due within one year Accruals Deferred Income Other Creditors Creditors 12. Creditors: amounts falling due aftern one year Long-term Loans Qarz-E-Hasana Other Creditors |
2024 £ 51,250 33,311 1,749 86,310 2024 £ 1,292 13,324 11,545 16,205 42,366 2024 £ - 65,010 - 65,010 |
2023 £ 46,961 47,650 1,743 |
|---|---|---|
| 96,354 | ||
| 2023 £ 9,437 25,000 9,604 104 |
||
| 44,145 | ||
| 2023 £ - - - |
||
| - |
No person or organisation holds any security over the assets of the society.
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