Charity Number 1037470
Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Trustees' Report and Unaudited Accounts
31 March 2021
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Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Charity Information
Trustees
M.U LUDI
D. MIAH
M. RAHMAN
Accountants
Shariff & Co. Arden House Talbot Way Birmingham B1 OHJ
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Bankers HSBC UK 30 Market Place Wednesbury W810 7AU
Registered office 48 Cook Street Darlaston Wednesbury WS10 9RH
Charity Number 1037470
Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Charity Number 1037470
Principal activities
The purpose of the charity as set out in the governing document is the advancement of Islamic religion and the advancement of education,
The main activities undertaken in relation to these purposes is to establish common mene to promote good relations between people of different faiths and promoting haan on e mutual understanding and respect of the beliefs and practices different religious faiths. Statement of trustees responsibilities in relation to the financial statements.
The charity trustees are responsible for preparing a trustees annual report and financial staternents in accordance with applicable law and United Kingdom accounting standards (United Kingdom generally accepted accounting practice) (GAAP)
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The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the charities act 2011, The applicable charities accounts and report regulations and the provisions of the trust deed. Also the trustees are also responsible for safeguarding the assets of the charity and hence taking responsible steps for the prevention and detection of threat and other irregularities.
Signed on behalf of the chaxities trustees
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M.U LUDI Trustee Date: 29/12/2021
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Accountants’Bangladeshi IslamicReport Society (Jami-Masjid) & Community Cen
tre
Accountants' report to the director of
Bangladeshi Islamic Society (Jami-Masjid) & Community Centre
As described on the balance sheet you are responsible for the preparation of dg hlaclal statementsiS tentfor ththe period ended 31 March 2021, set out on pages 5 to 9, and you consider that ' from an audit and a report under Section 477 of the Companies Act 2006.
In accordance with instructions given to us we have prepared ce cman,| out an audit the annexedfinancial statements from information and explanations supplied to by the We have not carried out an audit or any other review, and consequently we do not ©xPress anyy opinionop on these accounts.
Shariff & Co Accountants Arden House Birmingham B10 OHJ
29 December 2021
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Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Profit and Loss Account for the year ended 31 March 2021
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|---|---|---|---|---|
|2021|2020|
|£|£|
|Donations|&|Legacies|52,945|36,705|
|Administrative expenses|(48,525)|(59,013)|
|Operating|profit/(loss)|4,420|(22,308)|
|Profit/(loss)|for the|financial year|4,420|(22,308)|
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| Bangladeshi Islamic Society (Jami-Masjid) &Community Centre | Bangladeshi Islamic Society (Jami-Masjid) &Community Centre | Bangladeshi Islamic Society (Jami-Masjid) &Community Centre | Bangladeshi Islamic Society (Jami-Masjid) &Community Centre | ||
|---|---|---|---|---|---|
| Registered number: | 1037470 | ||||
| Balance Sheet | |||||
| as at 31 March 2021 | |||||
| Notes | 2021 £ |
2020 £ |
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| Current assets Cash atbank and in hand |
11.446 | 7,026 | |||
| Creditors: amounts falling due withinoneyear |
69,641 | 53,747 | |||
| Net current assets/(liabilities) | a | 58,195 | (46,721) | ||
| Net assets/(liabilities) | 58,195 | 46,721 | |||
| The Funds ofthe charity Unrestricted Funds |
(58,196) | (62,616) | |||
| Total ReserveFunds | (58,196) | (62,616) | |||
| M.U.LUDI | |||||
| Trustee | |||||
| Approved bythe boarp | on 29 December | 2021 | |||
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Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Notes to the Accounts for the year ended 31 March 2021
1 Accounting policies Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. There is Furlough income included in the donations.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
, LeaseholdFreehold buildingsland and buildings overover the50 yearslease term | Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years investments | Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Notes to the Accounts for the year ended 31 March 2021
Short term creditors are measured attransactionprice (which is usually the invoice price). Loans and other financal fabtes are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxati
The Charity is exempt from tax on its charitable activities.
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company’s policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense ona straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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Bangladeshi Islamic Society (Jami-Masjid) & Community Centre Detailed profit and loss account for the year ended 31 March 20214
This schedule does not form part of the statutory accounts
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|1|2020|
||€|
|Income and endowments from:|36,705|
|Donations and Legacies|__ 52,945 |
|Administrative expenses|
|Employee|costs:|460|
|Wages and|salaries|25,800|i 460|
|25,800|aa|
|Premises|costs:|
|Light|and|heat|1,389|=|
|1,389|—|
|General|administrative|expenses:|
|Insurance|1.600|:|
|Repairs|[and]|[maintenance]|19,736|33,053|
|"97|hag|33,053|
|Legal and|professional|costs:|a|500|
|Accountancy fees|————__——|—|500|
|Total Expense|___48,525|—|
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