.
,
REGISTERED CHARITY NUMBER: 1051331
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Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
Al-Quaim Islamic Mission
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Three Leaves LTD Chariered Certified Accountants 2 Manor House Lane Datchet Slough Berkshire SL3 9EB
Al-Quaim Islamic Mission
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Contents of the Financial Statements for the Year Ended 31 December 2021
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|Page|
|Report of|the|Trustees|1|
|:|Independent Examiner's|Report|2|
|Statement of|Financial|Activities|3|
|Balance|Sheet|.|4|to|5|
|Notes|to|the|Financial|Statements|6|to|10|
|Detailed|Statement|of Financial|Activities|11|
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. Al-Quaim Islamic Mission
Report of the Trustees for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims , To advance the islamic faith in accordance with the doctrine of the shia athna ashari. To advance the education of the shia muslim community.
FINANCIAL REVIEW
The charity also achieved significant results in using its funds in the most cost effective way possible. This is reflected by the retained funds and the net assets owned by the charity which can be expended on the charity's forthcoming projects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity nwmber 1051331
Principal address 39 Montrose Avenue Slough Berkshire SL] 4TN
Trustees Mr A Minhas Trustee MrNH Jaffri Trustee Mr Q Mehdi Trustee Mx T Bukhari Trustee Mr IH Abdeali Trustee
Independent Examiner
Three Leaves LTD Chartered Certified Accountants 2 Manor House Lane Datchet Slough Berkshire SL3 9EB
Approved by order of the board of trustees on 19 October 2022 and signed on its behalf by:
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A rAd As
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Mr A Minhas - Trustee
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Independent Examiner's Report to the Trustees of Ai-Quaim Islamic Mission
mt
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Independent examiner's report to the trustees of Al-Quaim Islamic Mission
I report to the charity trustees on my examination of the accounts of AJ-Quaim Islamic Mission (the Trust) for the year ended 31 December 2021.
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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's 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 respect:
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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
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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.
Ihave 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.
ae
Imtiaz Khan
FCCA
Three Leaves LTD Chartered Certified Accountants 2 Manor House Lane Datchet Slough Berkshire SL3 9EB
19 October 2022
Page 2
_ AL Juai[im][ Islamic][ Mission]
Statement of Financial Activities
for the Year Ended 31 December 2021
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|---|---|---|---|---|---|
|31.12.21|31.12.20|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and legacies|91,488|-|91,488|57,624|
|EXPENDITURE ON|
|Raising|funds|-|-|-|4,950|
|Charitable|activities|
|Masjid & religious gathering|52,772|-|52,772|42,854|
|Total|$2,772|-|52,772|47,804|
|NET INCOME|38,716|-|38,716|9,820|
|RECONCILIATION OF FUNDS|
|Total funds|brought forward|766,757|-|766,757|756,937|
|TOTAL FUNDS CARRIED FORWARD|805,473|-|805,473|766,757|
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The notes form part of these financial statements
Page 3
‘
Balance Sheet
31 December 2021
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|---|---|---|---|---|---|---|---|---|---|
|31.12.21|31.12.20|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|fimds|
|Notes|£|£|£|£|
|FIXED ASSETS|
|Tangible|assets|4|1,077,095|-|1,077,095|1,080,246|
|CURRENT|ASSETS|
|Debtors|5|5,714|-|5,714|5,864|
|Cash|at bank and|in hand|59,981|-|59,981|42,082|
|65,695|-|65,695|47,946|
|CREDITORS|
|Amounts|falling|due|within|one year|6|(15,149)|-|(15,149)|(14,398)|
|NET CURRENT ASSETS|50,546|-|50,546|33,548|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|1,127,641|-|1,127,641|1,113,794|
|CREDITORS|
|Amounts|falling due|after more than|one year|7|(322,168)|-|(322,168)|(347,037)|
|NET ASSETS|805,473.|-|805,473|766,757|
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The notes form part of these financial statements
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continued...
_ AlQuaim Islamic Mission
Balance Sheet - continued 31 December 2021
FUNDS Unrestricted funds
TOTAL FUNDS
9
| 805,473 | 766,757 |
|---|---|
| 805,473 | 766,757 |
The financial statements were approved by the Board of Trustees and authorised for issue on 19 October 2022 and were signed on its behalf by:
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iw AA as:
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Mr A Minhas - Trustee
Zp N H Jafini - Trustee
Mr Mehdi - Trustee
Mr T Bukhari - Trustee
LH ~ Trustee
The notes form part of these financial statements
Page 5
Al-Quaim Islamig Mission
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Notes to the Financial Statements for the Year Ended 31 December 2021
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable organisation, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts im accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ . The financial statements have been prepared under the historical cost convention.
The following accounting policies have been applied consistently through out the year:
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
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the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 12.26, 12.27, 12.29{a), 12.29(b) and 12.29A.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location.and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
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Depreciation is provided on the following basis:
Freehold property - Not provided Fixtures and fittings - 25% on reducing balance
The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Taxation
The charity is exempt from tax on its charitable activitics.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
_ Al-Ouaim Islamic Mission
Notes to the Financial Statements - continued
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for the Year Ended 31 December 2021
- ACCOUNTING POLICIES - continued
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Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded ‘at transaction‘administrative price.expenses’.Any losses arising from impairment are recognised in the Statementof Financial Activities in
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
Offsetting
Financial assets and liabilities are offset and the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Charitable activities
Cost of charitable activities comprises all overheads excluding governance costs and finance charges.
2.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
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|There|were|no|trustees’|expenses|paid|for|the|year|ended|31|December|2021|nor|for|the|year|ended|
|31|December|2020.|
|COMPARATIVES FOR THE|STATEMENT|OF|FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|fund|funds|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS FROM|
|Donations|and legacies|52,674|4,950|57,624|
|EXPENDITURE|ON|
|Raising funds|-|4,950|4,950|
|Charitable|activities|
|Masjid|&|religious|gathering|42,854|-|42,854|
|Total|42,854|4,950|47,804|
|NET INCOME|9,820|-|9,820|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought forward|756,937|-|756,937|
|TOTAL FUNDS CARRIED FORWARD|766,757|-|766,757|
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continued...
Page 7
Al-Quaim Islamic Mission
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Notes to the Financial Statements - continued
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for the Year Ended 31 December 2021
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|---|---|---|---|---|---|---|---|
|4.|TANGIBLE|FIXED ASSETS|
|Freehold|Plant|and|
|property|machinery|Totals|
|£|£|£|
|COST|
|At|1|January 2021|and 31|December 2021|1,070,674|29,573|1,100,247|
|DEPRECIATION|
|At|1|January 2021|-|20,001|20,001|
|Charge|for|year|-|3,151|3,151|
|At 31|December 2021|-|23,152|23,152|
|NET BOOK VALUE|
|At 31|December 2021|1,070,674|6,421|1,077,095|
|At 31|December 2020|1,070,674|9,572|1,080,246|
|5.|DEBTORS:|AMOUNTS|FALLING DUE WITHIN ONE YEAR|
|31.12.21|31.12.20|
|£|£|
|Other debtors|5,000|5,000|
|Prepayments|and|accrued income|714|864|
|5,714|5,864|
|.|
|6.|CREDITORS:|AMOUNTS FALLING DUE WITHIN|ONE YEAR|
|31.12.21|31.12.20|
|£|£|
|Taxation and social|security|—|450|-|
|Other|creditors|14,699|14,398|
|ae|oe|15,149|14,398|
|7.|CREDITORS:|AMOUNTS|FALLING DUE AFTER MORE|THAN ONE YEAR|
|31.12.21|31.12.20|
|£|£|
|Bank loans|(see|note|8)|322,168|347,037|
|8.|LOANS|
|An|analysis|of|the|maturity of loans|is|given below:|
|31.12.21|31.12.20|
|£|£|
|Amounts|falling between|one|and two|years:|
|Bank loans|-|1-2|years|24,869|21,529|
|Amounts|falling|due between two|and five years:|
|Bank loans|- 2-5|years|74,607|64,587|
|Amounis|falling due|in more|than|five|years:|
|Repayable by instalments:|
|Bank loans more|5|yr by instal|222,692|260,921|
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continued...
Page 8
., Al-Quaim Islamic Mission
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
;
- MOVEMENT IN FUNDS
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|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.1.21|in|funds|31.12.21|
|£|£|£|
|Unrestricted|funds|
|General|fund|766,757|38,716|805,473|
|TOTAL FUNDS|766,757|38,716|805,473|
|Net movement|in|funds,|included|in|the above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|91,488|(52,772)|38,716|
|TOTAL FUNDS|91,488|(52,772)|38,716|
|Comparatives|for movement in funds|
|Net|
|At|1.1.20|movementin|funds|31.12.20At|
|£|£|£|
|Unrestricted|funds|
|General fimd|756,937|9,820|766,757|
|TOTAL FUNDS|756,937|9,820|766,757|
|Comparative net movement|in funds,|included|in the above|are|as|follows:|
|Incoming|Resources|+|Movement|
|Tesources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|52,674|(42,854)|9,820|
|Restricted|funds|
|Other restricted funds|4,950|(4,950)|-|
|TOTAL FUNDS|57,624|(47,804)|9,820|
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Page 9
continued...
Al-Quaim Islamic Mission
ee,
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9, MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
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|---|---|---|---|---|
|Net|
|At|1.1.20|movementin|funds|31.12.21At|
|£|£|£|
|Unrestricted|funds|
|General|fund|756,937|48,536|805,473|
|TOTAL FUNDS|756,937|48,536|805,473|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|144,162|(95,626)|48,536|
|Restricted|funds|
|Other|restricted fimds|4,950|(4,950)|~|
|TOTAL FUNDS|149,112|(100,576)|48,536|
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- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 10
-. , ftQuaim Islamic Mission
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|---|---|---|---|---|
|Detailed|Statement|of|Financial|Activities|
|for the Year Ended|31|December 2021|
|31.12.21|31.12.20|
|£|£|
|INCOME AND ENDOWMENTS|
|Donations|and|legacies|
|Donations|91,488|57,624|
|Total incoming|resources|91,488|57,624|
|EXPENDITURE|
|Raising|donations|and|legacies|
|Donations|to|others|-|4,950|
|Support|costs|
|Management|
|Rates|and water|2,032|1,629|
|Insurance|1,714|1,819|
|Light|and|heat|4,734|3,598|
|Telephone|698|434|
|Postage|and|stationery|147|107|
|Sundries|560|134|
|Repairs & renewals|2,390|3,521|
|Cleaning|1,329|569|
|Scholar fees|3,341|6,500|
|Religious|events|costs|1,701|1,109|
|Professional|fees|9,397|4,200|
|Imam masjid|salary|7,035|1,000|
|Care|taker|-|400|
|Bookkeeper|salary|3,000|998|
|Depreciation of tangible|fixed assets|3,151|3,191|
|41,229|29,209|
|Finance|
|Bank charges|569|267|
|Bank loan|interest|10,124|12,528|
|10,693|12,795|
|Governance|costs|
|Accountancy|850|850|
|Total resources|expended|$2,772|47,804|
|Net income|38,716|9,820|
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This page does not form part of the statutory financial statements
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