STRATFORD ISLAMIC ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2022
CHARITY REGISTRATION NUMBER: 1057171
STRATFORD ISLAMIC ASSOCIATION
TABLE OF CONTENTS
| Page | |
|---|---|
| Trustees’ Report | 1 |
| Accountant’s’ Report | 2 |
| Income and Expenditure Account | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5-6 |
CHARITY INFORMATION
CHARITY REGISTRATION NUMBER : 1057171
TRUSTEES :
Mr Ahmed Ismail Adam Mr Gulam Master
EXECUTIVE COMMITTEE :
General Secretary : Treasurer :
Mr Gulam Master Mr Ahmed Ismail Adam
STRATFORD ISLAMIC ASSOCIATION
TRUSTEES’ REPORT
The board of Trustees present their annual report for the year ended 31st January 2022
GOVERNING DOCUMENT
Stratford Islamic Association was established in 1993 by a Constitution document which sets out the aims and objectives of the Association.
OBJECTIVES OF THE ASSOCIATION
The objectives of association are the enhancement of Islamic ideology in accordance with Quran and Ahadith in the locality within the bounds of Mosque.
ADVISORS
The association’s advisors are as shown on the Table of Contents.
REVIEW OF ACTIVITIES
The association’s income arises from fees and donations. The executive committee is responsible for the day to day management of the financial and operational matters.
The management committee meets on a regular basis to discuss and review the affairs of association. The board also has an Annual General Meeting in which members of the executive committee present themselves for re election.
Statement of trustees’ responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of it’s financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
-
a. select suitable accounting policies and then apply them consistently;
-
b. make judgements and estimates that are reasonable and prudent;
-
c. state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
d. state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements; and (unincorporated charities)
-
e. prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the charity, and which enable them to both ascertain the financial position of the charity and ensure that the financial statements comply with Charities Act 1993 . 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.
BY ORDER OF THE BOARD
Chairman Mr. Gulam Master
Dated:12th November 2022
STRATFORD ISLAMIC ASSOCIATION
Independent Examiner’s Report to the Trustees of
I report on the accounts for the year ended 31 January 2022 set out on pages three to six
Respective responsibilities of trustees and examiner
The charity’s trustees (who are also the directors for the purposes of company law) 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 required.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for the independent examination, it is my responsibility to;
-
Examine the accounts under Section 145 of the 2011 Act
-
To follow the procedures laid down in the General Directions given by the Charity Commission
-
(Under Section 145(5) (b) of the 2011 Act); and
-
to state whether particular matters have come to my attention
Basis of the independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below.
Independent examiner’s statement
In connection with my examination, no matter have come to my attention;
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006;and
-
to prepare accounts which accord with accounting records, comply with the accounting requirements of Sections 394 and 395 of the Company Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
STRATFORD ISLAMIC ASSOCIATION
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST JANUARY 2022
| 2022 Notes 0 708,205 Total Funds c/fwd - 733,333 Funds b/fwd £0 (25,128) Net Income for the year 0 73,560 3 Total Resources Expended - - Restricted - 73,560 Administration RESOURCES EXPENDED 0 48,432 2 Total Income - - Other Income - 48,432 Fund Raising and Donations £ £ Funds Funds RESOURCES Restricted Unrestricte d INCOME |
2021 0 733,333 708,205 - 745,058 733,333 0 (11,725) (£25,128 ) 0 37,383 73,560 - - - - 37,383 73,560 0 25,658 48,432 - - - - 25,658 48,432 £ £ £ Funds Funds Restricted Unrestricted Total |
745,058 (11,725) 37,383 - 37,383 25,658 - 25,658 £ Total |
|---|---|---|
| 733,333 | ||
STRATFORD ISLAMIC ASSOCIATION
BALANCE SHEET AS AT 31ST JANUARY 2022
Notes Total Funds C / fwd 3 Net Income Unrestricted Funds B / fwd Income Funds CAPITAL & RESERVES Net Assets Net Current Liabilities (169,900) 6 Creditors CURRENT LIABILITIES 97,272 72,173 Cash at Bank and in Hand 25,099 5 Debtors and Prepayments CURRENT ASSETS 4 Tangible £ FIXED ASSETS |
2021 2022 733,332 £708,204 (11,726) (25,128) 745,058 733,332 733,332 £708,204 (49,725) (72,628) (169,900) 120,175 95,076 25,099 783,057 780,832 £ £ £ |
|---|---|
The Financial Statements are approved by the Board of Trustees on12th Nov 2022 and were signed on their behalf by:
____ Chairman Of Board Of Trustee
The notes on pages 4 and 5 form part of these Financial Statements
STRATFORD ISLAMIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2022
1. Accounting Policies
- a. Basis of accounts
The accounts are prepared on the historical cost convention as modified by the revaluation of investments and in accordance with the Charities Statement of Recommended Practice.
b. Income and Expenditure
Donations, bequests, covenants and other monies collected by third parties are accounted for when received by Stratford Islamic Association
Expenditure, which includes value added tax where applicable, is accounted on the accruals basis.
c. Taxation
The Association is a charity and is entitled to exemption from taxation on its income and profits by virtue of Section 505 of the Income and Corporation Taxes Act 1988 .
| Notes | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| 2 | INCOME: | |||||
| Fees | 48,432 | 25,658 | ||||
| Lillah | - | - | ||||
| Other | - | - | ||||
| £48,432 | £25,658 | |||||
| 3 | UNRESTRICTED EXPENDITURE | |||||
| Wages & NI | 6,499 | 6,227 | ||||
| Rent & Rates | 504 | - | ||||
| Light & Heat | 4,698 | 5,226 | ||||
| Telephone | 382 | 339 | ||||
| Printing, Postage and Stationery | - | - | ||||
| Casual Wages | 17,680 | 21,200 | ||||
| Trade Refuse | 290 | - | ||||
| Food | £74 | - | ||||
| Toiletries | - | - | ||||
| Motor Expenses | - | - | ||||
| Misc | £28,600 | - | ||||
| Repairs | £12,572 | £1,610 | ||||
| Depreciation | 2,225 | 2,781 | ||||
| £73,524 | £37,383 | |||||
| NET INCOME | (£25,092) | (£11,725) |
STRATFORD ISLAMIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2022 Notes
| 4 | FIXED ASSETS | Freehold | Fixture, Fittings |
Fixture, Fittings |
Fixture, Fittings |
Total | |||
|---|---|---|---|---|---|---|---|---|---|
| Land | andEquipments | ||||||||
| and Building | |||||||||
| £ | £ | £ | |||||||
| Balance B/ fwd | 771,933 | 113,144 | 885,077 | ||||||
| As At 1st February 2020 | |||||||||
| Improvements to Property | - | 0 | |||||||
| Additions | - | - | 0 | ||||||
| As At 31st January 2021 | £771,933 | £113,144 | £885,077 | ||||||
| Depreciation | |||||||||
| Depreciation b/fwd | 102,020 | 102,020 | |||||||
| Add: Depreciation | 2,225 | 2,225 | |||||||
| As At 31st January 2022 | £104,245 | £104,245 | |||||||
| Net Book Value | |||||||||
| As At 31 January 2022 | £771,933 | £8,899 | £780,832 | ||||||
| As At 31 January 2021 | £771,933 | £11,124 | £783,057 | ||||||
| 5 | DEBTORS | 2022 | 2021 | ||||||
| £ | £ | ||||||||
| Debtors | £25,099 | £25,099 | |||||||
| 0 | CREDITORS | ||||||||
| Interest Fee Loan | £169,900 | £169,900 | |||||||
| Other Creditors | - | - | |||||||
| £169,900 | £169,900 |
7 TRUSTEE’S REMUNERATION AND BENEFITS
There were no Trustee’s remuneration or other benefits for the year ended 31st January 2021& 31st January 2022
.
TRUSTEE’S EXPENSES
STRATFORD ISLAMIC ASSOCIATION
There were no trustee’s expenses paid for the year ended benefits for the year ended 31st January 2021 & 31st January 2022