TORBAY ISLAMIC CENTRE Financial Statements For the year ended 31 January 2024 Charity No. 1056312 130 AVENUE ROAD TORQUAY DEVON
INDEX Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Noles to the Accounts 8-11
TORBAY ISLAMIC CENTRE REPORT OF THE TRUSTEES For the year ended 31 January 2024 The Trustees present their annual report and financial statement for the year ending 31 January 2024 and confirm they comply with the charities Act 1993 as amended by the Charities Acl 2011 and the Charities SORP IFRSSE) published on 16th July 2014. STUCTURE. GOVERNANCE AND MANAGEMENT Governing Document Torbay Islamic Centre was founded in 1984, its amended constitution was adopted on the 3rd of June 1996 and was registered with the Charity Commissions on the 21st of June 1996 (registration number 10563121. The address of the charity is 1281130 Avenue Road. Torquay, Devon TQ2 5LQ. Organisational structure The Trustees (Members of the Executive Committee) are responsible for the general control and management of the Charity. The Trustees give their name freely and receive no remuneration or other financial benefits. The Trustees that have served during the year and up lo the dale of Ihis report are set be50w. Mr Yousif a Al-Nassar Dr Ibrahim Masoud Mr Mahmoud Al-Ghareeb Bashir Rana Mr Abdullah Ahmed Zollay Mr Peter Frederick Muhammad Davis-Ali Mr Eissa Al-SLJbhi Al-Harbi Mr Mohammed Bamukra Mr Saeed Omar Balbaid RISK MANAGEMENT The Trustees have assessed the risks the charity faces. The Trustees are satisfied that systems are in place, or arrangements are in hand. lo manage the risks that have been identified. In particular, insurance cover is in place and the finances of the mosque are kept under review. OUR AIMS The objecls of the charity are set out in the charities Trust Deed and are summarised as follows-, the advancement of the religion of Islam in accordance with the tenets and doctrines of the holy Quran and Sunnah. The advancement of the education of Muslim children in accordance with tenets and doctrines of Islam and for the relief of such Muslims who are poor and needy. OUR OBJECTIVES Our Objectives are sel to reflect our faith and community aims. Each year our Trustees review our objectives and activities to ensure that they continue to reflect our aims. In carrying out this review the Trustees have considered the Charity Commissions general guidance on public benefit and in particular the supplementary public guidance on the advancement of religion for the public benefit. Our aims remain lo provide a facility where Muslims can worship. Our long-lerm ambition is to build the self-confidence of Torbay's Muslims in their faith and through our activities help make our area a peaceful, vibrant and harmonious community. STRATEGIES We want to make our Mosque accessible and a welcoming venue where all Muslims, or those who wish lo know more about our faith. can gather together to learn about their religion and worship. We are also fortunate lo have facilities forwomen who want lo pray at Ihe Mosque. The Mosque is open at all prayer times with the Friday Prayers being the focus of our activities. We give talks to schools and local organisalions on the Muslim faith.
TORBAY ISLAMIC CENTRE REPORT OF THE TRUSTEES (CONT'D) For the year ended 31 January 2024 ACTIVITIES AND ACHIEVMENTS How our activities deliver public benefit. The charity carries out a wide range of activities in pursuit of its charitable aims. The Trustees consider that the activities summarised in the Chairman's report given below. provide benefit both to those who worship al our mosque and the wider community of Torbay. Religious Activities Our Mosque provides a centre for our prayers and worship of the activities associated with our faith. During the year under review, we offer a range of services and activities. Chairman's Report. 111 Ramadhan & prayers - The Mosque is holding all daily prayers, Ramadan was held at the Torbay Islamic Centre with great success and large numbers of the brothers atterbding daily to break the fast and attend Tarweeh prayers in the late evening. 121 Local schools and colleges visits- Now the Covid Virus has finished we were able to start visiting local Schools, Colleges and other related establishments. 131 The teaching of children and teenagers - The Religious classès held by the Imam for the local children have been very successful reaching 46 students with 5 x classes including one for the Ladies. {5) The Imam teaches children on SatUTday mornings - These classes held by the Imam for local children on a Saturday morning plus 4 volunteer teachers. 161 The two EID prayers - The Two EID Prayers were held at the Torbay Islamic Centre. So all the brothers & Sisters and local families could attend. the Imam suggested holding three sittings 6.00am, 7.30am and 9am which was very successful. We would like to thank him for all his hard work. they were very well attended. 171 Local community attending the Mosque- The number of Brothers & Sisters attending the Torbay Islamic Centre has increased considerably due to the arrival of a large number of Asylum Seekers staying within the Bay. The Asylum Seekers have left but the number of people attending have increased because they are now coming from Dawlish, Teignmoulh. Newton Abbot, Totnes and Paignlon. 181 Donations- We are holding all 5 x Prayers and importantly the Friday Prayers, the weekly collections have now started again which will help support the Torbay Islamic Centre greatly as during the Pandemic this was not possible. The brothers are still donating regularly wilh Direct debits and we have now introduced the Sumup Card Donation reader allowing the brothers lo donate by Debit & Credit card which wasn't possible before. combined with the increased numbers of Brothers & Sisters attending the Friday Prayers the donations within the Mosque have increased to much higher numbers than ever before. 18al Charity Donations - This year we have seen an increase in Disasters. Emergencies and Conflicts throughout the world, The local community have pulled together like never before in an effort to help those effected. February l March 2023- fund raising efforts for Turkishlsyrian earthquake appeal - over £5,000 raised. October 2023 - fund raising efforts for Turkish & Moroccan earthquake appeal - tolalling £2,018.00 - £1,009 sent to 2 x charities - Help2hope Maroclwafa relief 19) Expenses - The Brothers over the last 12 months have started taking out Direct Debit donations monthly to the Torbay Islamic Centre to help pay for the Religious Services provided by our Imam and
also help cover the utility charges such as electricity. Gas, Water rates, Wifi, and Telephone Etc and with ever increasing utility charges we are endeavouring to find the cheapest supplier. 1101 Repairs & Refurbishment- Due to the ever-increasing numbers of people attending the Torbay Islamic Centre, a need for more Prayer space but also to bring the Torbay Islamic Centre up lo date with a clean and professional image it was decided to implement the largest refurbishment plan ever attempted. This would bring Ihe Torbay Islamic Cenlre up lo dale with more room, cleaner and more modern surroundings and allow us to provide the local community with more facilities. Please find below a timeline showing the renovations and refurbishments implemented. March 2023 - Wash area refurbished. April 2023 - Refurbishmenl of 128 starts I removal of inlernal walls and bathroom. April 2023 - End of April supporting Work starts in roof of 128-130 to support the roof & ceiling in preparation for removal of internal walls. May 2023 - Steel work and roof supports are insialled. May 2023- End of May internal wall comes down. June 2023- Beginning of June oak panelling installed on walls in 128 June 2023- June 2023- Middle of June false ceiling starts being installed in 128-130 Back gaiden work starts- removal of all garden waste. June 2023- End of June carpets purchased. July 2023 July 2023 Eid event held at Sherwood hotel (Eid in Ihe park}. Decorating work commences inside 128-130 August 2023 - Refurbishment of back garden starts I new walls, new nonslip flooring, repair of flat roof, new ceramic tiles. August 2023 - September 2023 - End of August rTrew carpets are filled throughout 128-130. Back garden completed. October 2023- Work starts on new storage unil back of 130. November 2023 - November 2023- Work starts on the refurbishment of the front gardens of TIC. New signs go out outside I front of building decorated. December 2023- January 2024 - Old kitchen in 130 removed and refurbishment begins. Fitting of Arabic Toilet in 130 completed. 1111 Simon Ramsden is looking after the weekly collections, Banking. Bookkeeping, Preparation of the yearly accounts that are then passed onto our accountant who in turn prepares the final yearly accounts for the Public Charity Commission and is also the secretary taking the minutes of the AGM. 111 al We would like to thank Simon Ramsden for his diligent work in Carrying out the booking keeping and passing them on to the accountants as above and his work the Mosque through the refurbishrnent. {12} A late AGM was held in the office of 144 Avenue RD because of the Month of Ramadan in March & April with only the trustees, Imam. Simon Ramsden. Alan as the accountant. (131 Before the refurbishment and as we hardly used 128 Avenue Rd the Imam Abdulkader did move in to the Mosque for a few months which did not affect the running of the Torbay Islamic Centre at that lime but due to Abdulkaders mother being seriously ill unfortunately he had to return to London bul it was agreed to keep his position open for him lo return al a later date but due to his mother's ill hea Ith he had to stay in London. After il was confirmed that Abdulkader was not able lo return to Torquay, he kindly offered to find a suitable Imam for the Torbay Islamic Centre. Abdulkader introduced a New Imam to lake over his old position by the name of Sadiqul Islam, Brother Sadiqul came down from London to look into taking the position and was very popular with the Brothers and Sisters of the Mosque and decided to take up the permanent position of a full time Imam at the Torbay Islamic Centre.
11 was a wide decision as he is very enthusiaslic and works very hard helping & teaching tho Brothers & Sisters and Children. He also advises them about their problems but also meets r70n-Muslims telling them about the Islamic Religion. {141 This year we have had a number of people deciding to be Muslim and taking the Shahada.
TORBAY ISLAMIC CENTRE REPORT OF THE TRUSTEES (CONT'D) For the year ended 31 January 2024 FINANCIAL REVIEW Reserves Policy The Trustees have reviewed the reserves of the Charity. The policy is to hold enough funds to meet two years, operating costs of the Mosque. Following the extension of the Mosque. the numbers attending on Friday mean that the Mosque is nearly full and consideration will need to be given to extending the Mosque and as such additional funds are being retained for this purpose and the onlinued aims and activities of the Charity. Principal Funding Sources The Charity s main source of income is donalions from the congregation. The total unrestricted donations and collections this year were £74.45712023 - £30,369). The unrestricted fund expenditure was £100,677 (2023 - £22.641 }, leaving a net deficit of £26,220 (2023 surplus - £7,728). Investment Policy and Objectives The Charity has no long term investments. Cash reserves are held in a bank account. Approved by the Trustees on .2024, and signed on its behalf by.. Yousif A AL Nassar Chair
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TORBAY ISLAMIC CENTRE FOR THE YEAR ENDED 31ST JANUARY 2024 I report to the Trustees on my examination of the accounts of the Torbay Islamic Centre for the year ended 31 January 2024. Responsibilities and basis of this report The Charity's Trustees are responsible for the preparation of Ihe accounts in accordance with the requirements of the Charities Act 2011 {'the Act'l. I report in respect of my examinalion of the Charity's accounts carried out under section 145 ofthe 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515}{b) of the Act. Independent examinerfs 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 Ihat in any material respect= accounting records were not kept in respect of the Charity as required by section 130 of the Act., or 2. the accounts do not accord with Ihose 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. Ryan Prynne FCCA CTA Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF Date.. 22 May 2024
TORBAY ISLAMIC CENTRE STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 January 2024 Unrestricted Funds Restricted Funds Total 2024 Total 2023 Note Income & Endowments From Voluntary Income Investment Income Total 74,457 2,454 76,911 30.976 74.457 2,454 76.911 30,976 Expenditure Charitable Activities Charitable Giving 100,677 100,677 2.018 102.695 22.641 2.018 2.018 100.677 Total Nel Movement of Funds Transfer between Funds (26.220) 60 (26,160) 46.543 436 (25,784) 60 {25,724) 47,798 8.335 75 8,410 39,388 436 1,255 Balance brought forward at 1 February 2023 Balance carried forward at 31 January 2024 20.383 1,691 22,074 47,798
TORBAY ISLAMIC CENTRE BALANCE SHEET As at 31 January 2024 2024 2023 Note FIXED ASSETS Tangible Assets 274,641 274,701 CURRENT ASSETS Cash at Bank & In Hand Payments in Advance Debtor 24,756 1,078 48,004 1.055 25.834 300,475 49,059 323,760 LIABILITIES Creditors Amounts falling due within one year 3.760 296.715 1,261 322,499 CHARITY FUNDS Unrestricted Fund.. General Fund Capilal Fund 20.383 274,641 1,691 296.715 46,543 274,701 1,255 322,499 Restricted Fund Approved by the Trustees on .2024. and signed on its behalf by.. Yousif A Al Nassar Chair
TORBAY ISLAMIC CENTRE NOTES TO THE ACCOUNTS Year ended 31 January 2024 Accounting Policies The principal accounting policies adopted in the preparation of the Financial Statements are as follows: Basis of Accounting The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise slated in the relevant note{s) lo these accounts. The financial slatemenls have been prepared in accordance with the statement of recommended practice, accounting and reporting by charities preparing their accounts in accordance with the Financial Reporting Standaid applicable in the UK and Republic of Ireland issued October 2019 and the Charities Act 2011. Torbay Islamic Centre meets the definition of a Public Benefit Charity under FRS102. bl Fixed Assets Fixed Assets are stated in the Balance Sheet at the historical cost less depreciation. Depreciation Depreciation is calculated lo write down the cost of Tangible Fixed Assels over the estimated useful lives at the rate set our below.. Equipment 200/0 reducing balance per annum The Iruslees keep the Freehold Property in good condition with regular maintenance and consider that the residual value of the property (excluding land) will be in excess of cost and as such no depreciation is provided on Freehold Properly. dl Fund Accounting Torbay Islamic Centre has two types of funds for which it is responsible and which requires separate disclosure. These are as follows.. il restricted Funds Income received which is eamiarked for specific purposes within specific objects of the organisation- ill unrestricted Funds Funds which are expendable al the discretion of the Truslees in furtherance of the objectives of the Charity. Part of the unrestricled fund has been designated as a capital fund and represents the net book value and tangible fixed assets and is therefore not available for any other purpose. Incoming Resources Gifts and donations are recognised as income when the amounts are received. Resources Expended Resources expended are included in the Statement of Financial Activities on an accruals basis. As most of the management and activity of the Mosque is carried out by volunleers, this intangible cost is not included in the Financial Statements as this voluntary contribution to the life of the Mosque is incalculable.
TORBAY ISLAMIC CENTRE NOTES TO THE ACCOUNTS (CONT'DI Year ended 31 January 2024 g) Financial Instruments The Charity holds the following financial instruments= short term trade and other debtors and creditors.. and cash and bank balances. All financial instruments are classified as basic. The Charity has chosen to apply the recognition and measurement principles in FRS102. Financial instruments are recognised when the Charity becomes party lo the contractual provisions of the instrument and derecognised when in the case of assets. the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabililies, when the Charity's obligations are discharged. expire or are cancelled. Basic financial assets comprise short term trade and olher debtors and cash and bank balances. Basic financial liabilities comprise shorl term trade and other creditors and bank loans. Such instruments are initially measured at transaction price. including transaction costs, and are subsequently carried at the undiscounted amount of the cash. or other consideration. expected lo be paid or received, after taking account of impairment adjustments. Voluntary Income Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 2023 2023 Collections and donations Donations for Charitable Giving 74,457 30,369 2.454 607 76.911 30,976 74,457 30.369 2.454 607 76,911 30,976 10
TORBAY ISLAMIC CENTRE NOTES TO THE ACCOUNTS (CONT'DI Year ended 31 January 2024 Charitable Activities Unrestricted Restricted Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 2023 2023 Imam Water Rales Rent Heat and Light Telephone Insurance Room Hire, Meeting & Food Costs Repairs and Renewals Bookkeeping Accountancy Fees Sundry Expenses Bank Charges Depreciation 22,200 1.704 250 3,403 1.399 1.341 822 11.102 2,326 63 2,543 1,209 1.430 22,200 1.704 250 3,403 1,399 1,341 822 11,102 2.326 63 2,543 1,209 1,430 65,576 675 2,460 1,496 520 1,320 85 472 75 22,641 65,576 675 2,460 1,496 520 1,320 85 472 75 22,641 787 60 787 60 100,677 100,677 Fund Balances Analysis of Net Assets by Fund Unrestricted Restricted General Capital Fund Fund Fund Total 2024 Total 2023 Fixed Assets Current Assets Current Liabilities 274,641 274,641 274,701 24,143 25,834 49,009 (3,760) {3,7601 11,261) 20,383 274,641 296,715 322,499 1,691 1,691 Restricted Fund Brought Forward 1.2.23 Transfer Between Funds Carried Forward 31.1.24 Incoming Resources Resources Expended Charitable Giving 1,255 1.255 2,454 2,454 12,018) 12,018) 1,691 1,691
TORBAY ISLAMIC CENTRE NOTES TO THE ACCOUNTS (CONT'D) Year ended 31 January 2024 Fund Balances (continued) Unrestricted Fund General Designated Total Balance blf Nel Movement of Funds Transfer between funds 46,543 (26,2201 60 20,383 274,701 321,244 (26,220) (60) 274,641 295.024 Capital Fund The Capital Fund, which was commenced by the Trustees in 2010, represents the Nel Book Value of the Charity's tangible Fixed Assets. and is therefore not available for any other purpose. Tangible Assets Freehold Property Equipment Total Cost 01.02.23 & 31.01.24 274.399 5,450 279.849 Depreciation Al 01.02.23 Charge in Year At 31.01.24 5,148 60 5,208 5.148 60 5,208 Net Book Value 31.01.24 274.399 242 274,641 31.01.23 274,399 302 274,701 Creditors- Amounts falling due within one year 2024 2023 Accruals 3.760 1,261 Trustees Rernuneration & Expenses No payments were made to Trustees for work carried out or expenses. Donated Services The Charity benefits greatly from the involvement and enlhusiaslic support of its many volunteers. In accordance with the Charity SORP, the eGonomic contribution of general volunteers is not measured in the accounts. 12