Charity registration number. 1057815 LONDON ISLAMIC CULTURE AND RECREATION SOCIETY (KNOWN AS ICMG) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD S MARCH 2024 TO 31 MARCH 2025
London Islamic Culture and Recreation Soclety {Known as ICMGI Contents Page Trusleo5' Report Indapgndant Audito$ Report Statement of Flnanclal Acliwtl06 10 Cornparats've Statement of Financial A¢livtties ststemenl of Flnan¢lal P¢$rtlon 12 staternent of Cash Flows 13 Not•6 1¢ th• Stst8m&nt of Cash Flows 14 Notes lo th¥ Financial Statements 128 The fellowing pages do not form part of the ststulory accounts.. Delai18d Statement of Financlal Aclwllie8
London Islamic Culture and ReCatIOn Society (Known as ICMGI Trustees, Report For the Period 5 March 2024 to 31 March 2025 The trustee5 present their report and th8 finan¢ial statements for the period ended 31 March 2025. Obje¢tlves and Activities Aims and Objectlvès Our work is guided by and lo advance th$ Islamic Rèligion,. the education ol Turkish people in p8rti¢ular by the provision of rrKrther tonguè and English classes," to provide advicè to petsple which assist in relieving their poverty or advancing their 6dueation or protecting or preserving their health. For the purposes of furtherance of thès& obiecls thè Charrty ainis to undertakes." lal Setting up sehools, libraries and reading rooms., Ibl Publish books, magazine5 and maintain reading room$". lel Establish accommodations for the needy 3nd help them re-eslablish thamsglvas in society,. Idl Organise educatlonal seminars and lectures., lèl Promote Islamic and Turkish Culture-. If) WorK in harmony with olher13lamic Institutions and Assoclations. Slgnlflcant Actévltl•s Education Programme5 and Conleronce$ For Eldarly And Young. Organising Community Events, Co-opération With other likè-minded affiliatèd ¢harrti8s. organised accommodallons for the n?8dy, pilgrimag8s annual Hajj and Umrah and l$18mic cuttural trlps and funèral assistanc8. The trustees havg considered the Char(cy Commission'5 guidancè on public benefit, including the guidance 'public beneff('. running a charity IPB21'. The Trust furthers ils charitable purposes for th? public ben&lit through ils missions and goals. Our aim is to work to optirnlse our operating mod$ls and ways ol working to reftect our goa15 and values, 8n$uré linan¢i81 suslginability, a¢hi¢v• ¢uteom8s and be accountable lo 811 $t8k&hold•rs. This will be in alignment with our Gurrenl resgur¢¢s and thé financi81 conl•xt. We are aiming lo undertake a variety of 8elions'. A¢countabilrty and continuou5 impTov¥ment to have a bettgr overview ol oiir capacity, so we can b¥tter larget support. We wlll slren9th$n monltoring and evaluating our pr¢gramme lo bettor achieve and demonslrale impact and affirm Supporter cDntribulion$. We will also look at our own iniernal performance. strengthening our le8rnin9 and davelopment practices as well as our prforman¢• management approach. Technologlcal enablement- we aim lo improve use of data and digital platforms to improve supporter5, experience ol giving, praylng and a¢tSng with us. Internally, we will improv8 efficlency through aulomatt4 pio¢e$$e8 of tasks such 85 income and expense processing. Financial $ustainability central lo our approach 15 Integrating insights from various sources and improved visibility of data In 5UPPOrt ol targeted fvndraising, w&ll-Inf¢rmèd grant allocations and ease of expndilur8 monitoring. Publ1¢ B¥n•flt Tho Irustéos confirm that they have had full règard to thè Charity Commission 5 guidance on public benefit whèn planning. rev1ewing, and delivering the Charity's activities throughout the year. All ol our programmes are designed lo provide clear, meaningful. and accessible benefit lo Ihg public, particularly through educalivn. ¢¢mmunity support, and the relief ol need. Our work 15 lo¢used tsn Improving opportunftle$ 8nd wellbeiiig for Individuals and femilie5, and our recent expansion of weekend education provision reflects Qui commitment lo widening access to learning and community engagement. In 811 area5. the trustees ènsur• that resources are used effectively and exclusively in lurtherance ol our ¢h3rrt8bl& purposes, so that the greatest pos$iblè bènefit is achieved for the communities we serve. The objective and activities and achievement se¢litsn of thls report has set out the activities which the Charity undertake5 for the public benefrt. The Exp¢utivè Committee eonfirms that it ha5 compllerl with thè duty in respect of section 4 of the Charities Ad 2011 to have due regard lo publi¢ b*n¢til guidance published by the ¢omml$slon in datermining the aclivilie5 undertaken by thé charty. The Iruslee$ ¢onfirm that they have complied with the requlrements ol Sectlon 17 of the Charities Act 2011 to have due regard lo the Char(£y C¢mmission's guidance on public benefft. Page 1
London Islamic Culture and Recreation Soclety (Known as ICMG) Trustees. Report Icontinuedl For the Perlod S March 2024 to 31 March 2025 A¢hievernent$ and P8rtormanc& Maln A¢hiev8ments A review of our achievem?nts and performance The banelits of the ICMG'S work are to enh8nce fgcilitstlon to humanity, brotherhood and furtherancg of Islamic 6due2tion with current and future Muslim Communities. The trustees are pleased that the achievements and performance ol the Trust 50 lar, as set out below. which demonstrats significant end*avours. Despite the difficult economic clifflalè in the UK and globally, the charrty contlnu¢d to dgliver a range of fundraising activities ncluding Ramadan Iftar dinners and community fetes to sustain ils mbssion, support ils programmes. arsd help complete the Islamic Cenlre's building improvement5. ICMG 15 plaased to confirm that the building improvement projéct was sueeesslully completed in 2024125. Durlng the period. we have spent £121,fj70 to ¢omplete th¢ refurbishing of our secrelarlat bulldlng. We are currently In the process of opening a new branch Sn Enfl?Id. Our key performane& Indicators IKPI'sl are summansgd in th8 table below.. Key performance Indlcators Number of fund rai$lng events Donat'ons Value of charllable gxpgndi(ures 2025 2024 £209,896 £125,009 £503,053 £385,188 Charltabl• Actlvltle8 The chority arranged workshops, residential camps, seminar5 and talks with Imams at the mosques and community halls. It has also continued lo provid• UQBAH funeral servi¢gS SUPPOrt to the Ioc81 Muslim community. In addition. though ICMG as a charity is still going through an evolving stag8. il continued lo expand 11$ r88ch and organi5ed varied progr&mmgS.' al R¥gular training and Involvtmént in humanrtarian causes and rel8t&d getivrtl8S. bl Conler•ncès, Quran recilalions and revival- programmes of religious days and nights. cl R$gulgr ta8chors' meeting5 to Improve the expèrience ol our ¢ommunitlg$ 8nd b•n•ficiaries. dl Competrtlon and held Mercy to the World workshops. $1 Op&n Mosque Day even15 lor pur local community, sale ol Islami¢ publlcations and promote goodness. Q Formalised regional. loc31 br8n¢h èducation commission to oversee and Pfomte education. gi Meèting with respect of yearly Hajj and Umrah pilgrim- before and after session, h) Organ$ed other yearly religiou$ pilgrimage trips for familles. il Youth programmes and camp5. 11 Dgy èvents involving children and families, eclivilies. kl Eid prayèrs and soup seTvings. 11 Qur'an recltation- woekend course for stud8nls. The charity ¢onlinu8d to support weekend edu¢alion schools in different affilièted branches in Edmonlon, Romford. Peckham, Margale, 8righton, and Bexley In London. We are currently In tho proc855 of setting up 8 new br4n¢h In Enfiald. During the period. the charity Invested an additional £183,670 12024.. £193,223) to complete the final phasÈ of rofurbi$hing its $o¢ralariat, ensuring it can belier meet Iht ¢ontinually evolving needs of vulnerabl8 individuals. the local comrnunrty, gnd ytsung p8opl8 and familios. Flnanclal Revl?w Financlal Posltlon The trustee5 remain dèeply appreciative of the contlnuèd 9enerosity shown by our communrty and supporters during another challenging year, marked by ongoing pressures on Uk< hou58hold budgets. Despite these difficuhies, our volunteers and donor5 h8ve adapted with resilience, whilst embracing ways ol engaging with us in traditional fundraising aclivrtifrs are increasingly shifting toward onling giving sin¢è thè pandèmic. Their eommitment has been both eneoura9ing and essential to sustaining our work, Total income for 2024125 was £395,80912024'.£884,7341, a de¢r8astr of £288,925 142%) compared with the previous year. The higher income in 2023124 reftected our major fundraising ¢8mpaigns lo complete the building renovation. address capacity pressures. and respond to wlder economie condrtions. In contrast, 2024125 was a morè settled period. giving u5 Spate lo réfocus and plan for our future pllorilies. General donations and charitable acithies amounted to £240,557 12Q24'.£614,9881, alongside rental ineoma 01 £15S,252 12024.'£189,7461 r8¢8ived from our connected chariti2s, Hasene and The Alberonius Foundation for the use of our faclliti'es. -.CONTINUED Page 2
London Islamic Culture and Recreation Soclety {Known as ICMGI Trustees, Report (continued) For the Perlod 5 March 2024 to 31 March 2025 Finanoial Position - continued As in every yèar. thè majorfty of our income ¢omes from our gr¢>wlng loyal and generous support from our community, partner5 and affiliated CMG organisab'ons. We received £209,89612024.'£503.0531 in general donations and legacies from those supportars. The total resources expended amounted lo £125,00912024.'£385,1681. The nel surplus f¢r th• peri¢d amounted to £270.eoo12024."£299.5661. Re5•rve$ Poll¢y Every yéor. th8 tTUSteés seèk to sèt aside sufficient seN9S lo &n5ure a balane? belween spendlng lo meet the immediate needs ol our operations and protecting our luturg work. This setV89 85 having a buffer and allows time to adjust the charity lo any unexpeeted tsperational ¢hallènges should therè be a large reduction in thè amount ol in¢¢me w$ r¢¢8iv&. Thg Iruslges are aiming lo maintain a fluid reserve sufficient to moèt ongoin9 opèrational needs and manage fi'nancial risk$. The total aocumulaled reseryes at 31 March 2025 were of £1,297.23412024.'£1,026,4341. The trustees consider the reseryes are sufficient to continu& the charity's activities in the future years. Other matters chango of the ¢harlty'$ annual r8portlng date In 2024125, the Board of Trustees reviewed ils historic yearly reporting dale lo14th March) wlth thè Charity Comml$$lon and for the purpose ol better reporting have decided to change 115 annual reporting dale to, 31 March. Sub¥ldl4ry und8rtaklng Tha Charity subsidiary's 2025 annual accounts reading 8 deflelt on ffs balance shèot of £6,160 12024.£6.2501. The Bubsidiary is in not In operational mod& and thè Charity will continue to provide financial support, should such a nead arise. Envlronmgnlal 8tewaTd¥hlp Wa aim to develop and oslabllsh ICMG'S Carbon loolprint bul has been d&lay¥d due to op8rati¢nal con$lrainl$ and would try lo largel by 2030. In th• m8antlm8, we ¢ontinu8 our efforts lo reduce our own frmlssions ond improve our carbon lootprlnt through ¢ur internal Inllialives. statement on Safeguarding W4 or? committed lo raeognislng thè safeguarding ol all peopla we work wlth, espécially vulnorable yroup$. We have g particular conc8rn t¢ onsure children, young people and vulnerable adults are sal8guarded and reco9nise we have a special duty of caro and respect towards them. Wè are committed to upholding professional conduct in all areas of our work and creating an organisational eulturè that priori115e$ safeguarding and ensures 8 sale 8nd trusted environment lor all who com8 into contact with us. statement on fundral$lng We respect the rights. dignity and prlvacy of our 5UPPQrters. We will not pul undue pSsure on sUPPOrters lo make a gift and il a supporter does not want lo glve. or wlshes lo Cease glving, we r*sp$el their d¢¢ision and act on thi$. We offer supporters choice5 about how they wish lo be conlaoted and we Tespond to roqug$15 lo trnd ¢pnlgcl. Trustee r13k management Jtatement The princlpal risks laced by the Trust lie in the P9rforman¢e of thp Chartty. Risks are lactois that could stop us from achieving our plans or goals.. they may be of financial. political. rogulalory, governance OT operational. While we try lo limit risk, we cannot prevent 811 events from occurring. That is why we have actions and controls in place to reduce negative impacts. Identitying 8nd addressing the most S1gnificant Tisks helps reduce the possibility of financial lo$$ or damag0 to ICMG'S reputation and ensures efficient use ol resources. We pay particular attention to risks that would have the highest impact on the charrty. if they carne about. Our risk management is proactlve. Identifying and assessing key risks beforehantl. 1115 integrated into all our work, planning and deci519n-making processes, Tèam collaboratas with m8nag£m8nt c¢mmrttÉe and trustees to Idéntity rlsks and develop miligalion str81egies. At the org8nisationg1 levèl. truslaes revièw ICMG'S risk règister at least ennually. gnsuring significant risks arg managed properly. Th¢ operatlonal risk from Ineffectlve Intèrnal controls and procedures. The Trustee5 have a55essed the major llsks tD which the charity is exposed, in p8rticul8r th0$8 related to its regulatory, operations and finances, 3nd ar& satisfied that systoms and procedures are in place to mitigate exposure to the major risks. The trustees are of thè tspinion that tbe charity is not exposed to any major risks as r( has a heathy reserve position and is not wholly dependent lor funding on its membors. which 15 growbng. The trust?gs regularly rèvièw the operations of the eharity including any changes to the service delivèry to idèntify kèy risks ?gainst the cover provided by the current insurance policie5 which are then rethnegoliated rf required to ensure adequaoy of cover. .CONTINUED Page 3
London Islamic Culture and Recreatlon Society {Known as ICMGI Trustees, Report (continued) For the Period S March 2024 to 31 March 2025 Oiher mattor¥- contlnued An economic downturn ¢ould havè • dlr¢rt impa¢t on our donors, ability to continue its support. The economlc and political landscape is un¢ertain and Gould have a signibcant impact on ¢ash u$8 of the Charity. Trustees therefore aim lo keep abreast of economsc Conditions both in thg UK and 8broad. Overheads are carefvlly monY(orod to ènsurè that rgsourc¢8 are used Offectively. The Board of Trustees considered that through their de¢151on making In th$ périod, they have acted in a way to promote the ChaTity and for the ben81t of its stakeholder as a whole. Future D&v•lopmènts The charity Intends to ¢ontinu¢ expanding its community presence by exploring opportunities to acquire additional buildings. This growth 13 align8d with our long-term VlSiDn lo inerè8sè access to religious. educational, and social-welfare services for our beneficiarie5. Tru51ees will asse55 each opportun(¢y carefvlly lo pnsur8 that any acquisition is financially sustainable. strategically approprialo, and fully alignpd wrth our charStable purposes. In parallel, we ara undertaking a comprehensiv8 review ol our adminlstratlve and organisatlonal inlrastructura. We are currontly awarting formal advlce from our legal team on th& m051 suitable structural model for our expanding nètwork. This review is a key to our commitmgnt lo str*ngthening governance, improving operational effectiven855, and ensuring that our internal arrangements remain fil for purpose as the charity grtsws. The intended oulc¢m¥ of this work is a more resilient, efficient, and scalable organi58t1orne that 1$ bètter èquipped to support bènèli¢iaries, manage future growth, and respond confidently lo emerging challenges. Trust&è$ récognisè that strong internal frameworks are essential lo $U51ainlng Smpacl, sèleguarding charitable a5set5, and deliverlng high-quallty seNi¢¥$ across all Qur eénlros. structure, Governance and Manag¥m•nt Govornlng Document The Trust is a unincorporatad rggist8rfrd charity nLimb8r 1057815 and is guided by rts governlng docum8nl und•r a trust d88d. Thè trvsteas 8r• responsible lor the ggngral ¢onlrol and managomenl of the charity. The admlnistralion ol th& Charrty Is vested wlh The M8nagemenl Council. The Management C)uncil daals with the day lo day affairs of the charlty, 11 carrlgs out or exgculos the objects of the Cherlty as laid out in the trust's arti¢lès. The Management Council meets at legsl once a month lor discussions and consequential decislons are made on a simple malorily basls on tha Charity's matters. The Management C¢un¢il 818Cts from amongst themselves a chairman. The Chairman shall ch0058 from thè members ol the Management Coun¢ll, a Vlca Chairmèn, a Secretary General, A Treasurer. Three olhor member5 shall be elected as active m¥rnbers. At the Iruslees, meeting$. thè truste8s agrge the broad strategy and area5 of 4¢twity for tho Trust, including conslderation of ¢harrtablé activities, investments, reserves end risk monagement polici8s and performance. In assisting the trustèes. the management council mèets weekly. pri¢r to the main Iruslees, me61ing, to consider and focus on the new projè¢ls. programmas ond neady causes lullilling the relevant criteria and mako recomrnend8lion$ for othar charitable funding. Tha management council 13 5UPPOrted by the tgams ol volunt68rs and con51der the monittsrlng information ¢on¢ernlns the p¥rforman¢e of th? projects lo dale and make roeommendations lo the Iruslees. The manaooment council have the power to hlre and engage èxperts as educational advisers or counselling. The day-l04ay administration 18 delegal¢d to tha chorty office operational m8n8ger. The trustees give their Ilme frgèly and receive on remuneration or other finantrial b•neffts. .CONTINUED Page 4
London Islamic Culture and Recreation Soclety (Known as ICMG) Trustees. Report {continuedl For the Period 6 March 2024 to 31 March 2025 Govèmlng Documènt- continued The trustees gralefvlly acknowledge the service, dedication and support of management ¢ommittèe$' members. Organlsatlonal Structure Management Council rnembe15 arè detsiled below N4m•s Mehmet Gtingordo Mustala Aydin Mu51af8 Kirgnoglu Ibrahim Urkac Roles Vico President & Organsation President Vi¢9 Prèsident & Head of Education Vice PresideTIt & Chairman of Ir5had H8ad ol Ihsan Seminars Vlce President & Humanitarian Aid SHB Pr6sident ol the Women's Organisalion Presidant DI the Youth Organisalion President of the Women's Youth Organisation Head of Inspection Head of Ac¢ounkn'n9 Vice President & Corporalo Communleations H*ad ol Adminlstratwe Affalrs Head of Hajj" Umr&h Trav$1 Affalrs Hoad of Funeral Service5 Prornolion and Cultural Servi¢0$ Règlonal Secretary Head of Membtrr¥hlp H•ad of Real Estate Affalr$ Muslafa Ersoy Aliye Sert Mustafa Kucukkos Falma Simsek Mustala Aydin Emin Centinkaya Orner Mucahld TuredS Elrahim Slt Ferdi Yilm8Z 8ahtiyar Kilicarslan Lalil Cetsnkaya Emrah Gencan Mural Kucuk Akmal Saipov Othèr mAtters The ch4rlty'• w•bslts address:. Icmg.org.uk other name whlch the eh#rlty uses:. Islamic Community Milll GOrU5 IICMGI Engagement wlth employees and vtslunteèr8 The Charity could not function wiihout its staff and volunteers, and trustees consider their needs when maklng deelslons. Thè Management committ90 team. led by the Chair of ICMG. handles the day-taY administration and rèports to the trustees. The management council manages ICMG and impSemenls decision$ mad& by tha trustees, who delegate certain p¢wérs to th&m as outlined. The trustees aim to raise awareness of organisationawide issue5. Staff and volunteers regularly rocewe governance and flnan¢ial updates. Trustees organise engagernent opportunili?s within board and commlttee meetings, ctsllaboraling with the team to communicate Lrtecisions effectwely. Spe¢lalist staff members frequently partieipate in these meetings. presènting theii woik and Seeking input from trustées and specialist advlsers lo guide decision-making. Governed by the Vvhislleblowing poliey, trustees can hear staff concerns when formal ICMG complaints mechanigms have been exhausted, w(th elear protocols in place tD resolvè any matters raised in this way. During th& period. the chariÉy employed 3 12024'.31 full time employeès including an office operational manager to ctsordln8tÈ the ttptrational wings. All the major actDlities were carried out by the voluntg?rs and Irustea5. Tho trustees provide Ihelr time and èxpertise to the charity on a voluntsry basis. Going Concern The Trustees have 85sessed tha charity's ability lo ¢onlinue as 8 going coneèrn for a period of at lea51 twelve months from thè date of approval of these lin8nci81 statements. This assessment has considered the eharity's fi'nancial position. csshflow forecasts. operational commitments. and the availability ol external financial support. .CONTINUED Page 5
London Islamic Culture and Recreation Society {Knovm as ICMGI Trustees, Report (continued) For the Period 5 March 2024 to 31 March 2025 other matter¥- wntinu During the linanclal periDd. the ch8rtty held a secured loan wllh ffs principal lender, who maintains a legal charge Dver one of the charity's propertl8s. Th8 Tru5t8es recggnisgd the importance of 5e¢uring longgl term financial slèbility. In June 2024. within the reporting peiiod, the lender formally agreed lo reschedule the loan, gianling a three year repayment holid3y confiiming tho1 Ihe108n will bear no interest Ooh over the s8me period, 2024 10 2026. These revised term5 significantly reduc8 short lerTll c85hflow pressures and materially strengthen the charity, liquldity p0511ion. Thè Trusteès hove also ree8ivèd a wntten letter ol financial support from the lender confirming ils intention to continuè providing financial backing to the ¢haiity for at least twefve months from the date ol approval ol these finaneial statements. Given the lendèr's seeurtd po$((ion and lung standing relationship with the charfty, thè Trustèes consider this support to be credible and reliablè. The Trustees have rgviewed detailed c85hflow projections that incorporate the revised loan terms. expected income streams, and planned expendltur?. Sased on thes$ forecasts. and taking inl¢ a¢¢ounl th& lender's confirmsd support, the Trustetts are salbsfied that the charity has adequate resources lo meet Ils obligations as thgy fall due. Aceording5y, the Trusttr6s consider that there are no material unc6rtainti6s that ¢ast significant doubl on the charity's ability to ¢onllnuo a$ a going ¢oncorn. Tht financial statem8nts have therefor• been prepartd on a going concarn b8SIS. Referen¢e and Admlnl¥tratlve 08talls Tru8t••8 U 8ilaloglu- 0110312016 R Gokce- 2211212016 M Erguz- 22112r2016 M Gulbahar- 2710812018 Charlty Number 1057815 Prlnclpal Address 399401 High Road London N178QN Audltor8 Inam & Co Ltd Chartgrad Certiliad Accountan15 & Statutory Auditors. 459 Green Lan8, Goodmayes, Essex IG3 9TD Banker8 HSBC Unil 6, Thè Lock. Canal Walk. Willshire, Swlndon SN1 1 LD Solleltors Bates Wèlls & 8rai(hwaite London LLP 10 Queon Street Place London Page 6
London Islamic Culture and Recreation Society (Known as ICMG) Trustees. Report lcontinuedl For the Period 5 March 2024 to 31 March 2025 P05t Balance She•t £v¢nts As part of the expansion of our charitable aetwities, particularly to support the developrnent ol our weekend education sehool, the charity has secured a leased premises in Enfield. This new sile will enhance our capaclty to delrrfer gduc?lional programmes and provide a dedicated space for children. fan7ilies, and volunteérs to ong&9e in Structu£ learning activities. statement of Tru¥tees' ResnsIbIlItI$ The tru51ees are responsible lor preparing the Trustee5' Report and the financial statemen15 in accordance with applicablg law and United Kingdom Accounting St8ndards (United Kingdom Generally Accepted Accounting Practice). The law applicabl¢ to charities in England and Wales require6 the Iru$t$$$ to prepar& financial slalemen16 for e8ch flnancial yoar whlch givè a trLI8 and fair view ol th8 slate of affairs ol the charity and ol the incoming resources and application ol resources of th? chdrtty lor that pérlod. In preparing the fin8ncial slalpn)$nts the trustees ar& required lo.. select suf(able accounting policies and then apply them ¢onsls18ntty'. observe the methods and principles in the Charity SORP", make judginen15 and 3¢counling estimates that are reasonable and prudènt., state whether applicable accounting standards have bèen followed., subject lo any departurè$ dis¢l0s8d and èxplained in the financial statemen16', and prepare the finan¢lal statomenls on the gobng concern basis unlass it is inappropriate to presume that the charity wll continue in business. The Irusl8es are responsibl• lor keeping adequate accounting rècords which disclose with rea$onabl$ aceuracy at anytime the financial position of the charity and to enabl$ thgm to ensure that the accounts c¢mply with the Charities Act 2011, the Charity IAecounts and Reports) Regulations 2008 and th& provisions ol the tru51 deed. Th&y aré also r8sponsible lor saleguardbng th¢ assets of the Gharity and hence lor taking reasonable steps for the pr&vention and detection of fraud and olber irrègularities. In $0 far as the Irusl¥e$ are iwar•'. there Is no relevant audit information of whlch the charity's auditor is unaware., and the trustees havo takèn all steps that they ought lo havo 18kon lo make tAemsefve5 8war8 of any relgvanl audit information and to establish that the audilorls aware ol that inlorm8110n. The trustees, roport was approvèd by the board ol trustees and slgned on ils bohall by.. U Bllalog Trustee 28101r2026 Page 7
Independent Auditor's Report to the Members of London Islamic Culture and Recreatlon Society (Known as ICMGI Oplnlon We have audited the financi81 $18temenls DI London Islatll1c Culture and Recreation Society (Known a5 ICMGI Ilhe "charty I for the period ended 31 March 2025 which comprise the Statement of Financial Activities (including Incom8 and Expendlturè Accounti, Statement ol Financial Position, Slalem8nl of Cash Flows artd the related notes, including a Summary of signtfic8nt accounting polieies. The fvn&n¢i81 pOrting framework that has been appli8d In their preparation is applicable law arid United Kin9dom Accounting Standards (United Kingdom G8nerally Accepted Accounting Practicel. including FRS 102'The Finan¢i81 R8portino Standard applieable in the UK and Republic ol Ireland" In our opinion the financial statements.. give 8 true and fair view of the state of the oharity's affairs as al 31 Mar¢h 2025 and of its incoming resources and applicats'on ol resource$, loi the period then ended". have been properly prepared in accordance with United Kingdom Generally AccEpled A¢counting Practi¢8'. and have been prepared in accordance with the requirements of the Charities Act 2011. Ba818 tor Oplnlon Wt ¢onduetad our audit in accordance wllh Inl8rnalional Standards on Auditing IUKI IISAS IUKII and applicablè law, Our resp¢nsibilities under those standards are furth8r d85cribed in the Auditor's responsibiliti&s for the audit of the financial statements section ol our repc)rt. We are indèpendent of the charity in accordancè with the ethical requir&ments that are relevant to our audit ol the financial statemonls in the UK, including thè FRC'S Ethical Standard. ènd wg hava lullilled our other ethical responsibilitie5 In ac¢ordance with these requirem6nts. We believe that the audit evidence we have obtainod is sufficient and appropriats lo provide a basis lor OLir opinion. Conclusloni Ralatlng to Golng Concern In auditing the financial statement5, we hava conclud8d that th8 1rusle65' use ol the g¢ing concern basis ol accounting in the preparation of th8 Ilnan¢lal statemfrnt5 is appropriate. Based on the work w• have performed, WB have not idnlified any mat•rial uncertainties relating to pvenls or ¢ondill¥ns that, individually or colleclivoly. may east significant doubt on th$ ¢harity's abilrty to contlnU• as a going concern for a pèriod of at l•ast 12 months Irom when thè 11nancig1 s18tém8nts are authori59d for 15$UO. Our respon5ibilitie5 and the responsibilities of the tru51e05 with respect 1¢ goln9 conem gre described in the relevant 5eclion5 of this report. Oth•r Information Th• other information ¢ompiisés the information included in the annual r8POrt, othèr than the financial statements and our auditor's report thereon. The tru5te85 ere responsible for the other inform81ion contsinèd within thé annual report. Our opinion on Ihe financial statémènts does not ¢over th• other inlormatson and we do not expres5 any form ol assurancè conclusion thereon. In connection with our audit of thè lin8ncial slatam6nt$. our responsibility Is lo read the other informallon 8nd. in doing so. consider whether the other inlormallon is matorially inconsistènt with the lin8nelal 51atem&niS or our knowledge oblelned in th& audr( or otherwise appear5 to be materially mlsstated.11 we identify such material inconsistencies or appartrnl material misstatements, we are rèquired lo determine whether thi5 give$ ii5e to g matarial misslatemenl in the financial statements Ihem$elvès. If, based on the work we havè performed, we conclude that there is a m&terlal misstatèment of this other information. we are required to T8POrt that fact. We have n¢thing lo report in thi5 regard. Matt¢r8 on Whlch We Are Required to Roport by Excepflon Wa h8ve nothing lo report in respect of the following matters in relation lo whl¢h tho Ch8rities (Account3 and Report31 Regulations 2008 require u5 to report lo you If, in Qur opinion.. the information givèn In the Trustees, Report 15 inconslstenl In any malorial respect with the linancl818latemenls,' or suffici8nt accounting records have not been kept.. or the financial statements are not in agreement with th8 accounting records or returns., or we have not rgcèNed all the informat'on and expl8nation$ wa require lor our audit. R•sponslbilltles of TTUStee$ A$ axplained more fully in th& Trusteas, Re6ponsibililies Statement 3et out on p890 1 7, the trustees are responsible for the preparation of the financial ststemenls and for being satisfied that they give a true and fair view. And lor sueh internal control as the trustees delemiine is necessary to enable the preparation of financial statements that are fre8 Irom matorial misslalemenl, whether due to fraud or èrror. In preparing the financi81 statéments, the trustees are responsible for assèssing the charity'5 ability lo continue a$ a going ¢oncgrn. di$¢1ts5ing. 8S app5icable, matter5 related to going concern and using the going concèrn basis ol accounting unle58 thÈ tru$leÈs erf¢her intènd to Iiquidato the charity or to 8S oparations, or have no realist1¢ 311ernative but to do so. Page 8
Independent Auditorfs Report {contlnuedl to the Members of London Islamlc Culture and Recreatlon Society (Known as ICMG) Auditoi'$ Responsibllltles for the Audlt of the Flnanelal Stat8ment$ We have been appointed a5 auditor under section 144 of the Charrf(ie5 Act 2011 and report in a¢wrdancg with the Act and relevant regulats'on3 made or having effect thereunder. Our objectw95 are lo obt8in reasonable assuranee about whether the financi81 statomènts as a who16 arg frèè from matarial misstatem8nC whether du6 to fraud or èrror. and lo issue an audrtorts report that includes our opinion. Reasonable assLirance is a high level of assurance, but is not a guarante6 that an 8udit conducted in accordance wrth ISAS IUKI will always detect a material misstatement when bt exists. Misstatements can arise from fraud or error and are considered material if, ind1vidually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken Dn the basis ol these financial slatemenls.A further description of our responsibilrties for the audit of the financial slalèmgnls is loealed on the Financial Repo.ng Council's webslte www.Irc.org.uklauditors responsibilities. The extent to whlch our procedures are capable of detecting irregulaiilies. including fraud is detailed below.. Identify and 8ssfjs$ the risks of matorial misstatam6nts ol the financial statements. whether due lo fraud or error, wè design and perform audtt procedures r¢sponslVe to Ihose risks, and obtain audit avidèncè that Is Sufficiènt and appropriate to provide a basis lor our opiniL)n. The risk of not detecting a malerlal mi8stg1gmenl rè8ullSng from fraud is higher than lor one resulting from èrror. As fraud may invofvè collusion. forgery, Intentional omisslon5. mi5repr¢s&ntations, or Ihe override ol the internal control. Evaluate the appr¢priatenèss of accounting polieies used and the reasonableness ol accounting esb'males and related diselosures made by tho Trustees. Conclude on the appropriateness of truste85' use of going concern basis ol accounting and, based on the audit evidence obtained, whether material uncertainty exists related lo events or conditions that may cast significant doubl on the Charity's 8bilrty lo continue a5 a going concern and report appropriate disclosures in the accounts or in our audit report. Evaluate the appropriate presentation. slrucluro and content of the finan¢lal $lal8monts, Ineluding th* disclosures. and whether the financial 51alemenls represent the und9rlying trans8dions and ¢vpnts In a menner that aehièv• fair prosènt8tion. Ev8luaied the tonduet of operations in relation to laws and other regulations. Our evaluation took account of whether any non-compliancè would have 8 material effect on th& financial statements. Ba$ed on this understgnding w8 designed our audr( procedures to identify nonThcompli8nc8 wf(h such laws and regulations. Our pro¢8durg$ involved 6nquiries ol management and those charged with govern&nce. review ol legal and professional expenses and review of Trustees, meeting minutes. Auditing standards limit the required audit procedure8 to Identify non•compliance with these law5 and regulations lo enquiry of th8 Tru5t88 and othor management and inspection DI regulatory and legal correspondence. f any. Our audit procedures lo respond lo these r15k5 included enquiries ol management abgul Ihelr own Id¢niifi¢8ti¢n and assessm8nt of the risks of irregularf(18s, sample testing on the posting ol journals. rEviewing accounting estimates lor biases. r¢vlewSng rogulalory eorrespondence with thg Charity Commission, and reading mlnutes ol meetings of those charg&d wrth governaneg. We communi¢&18 wKh Iho$è chargad wrth gov•rnanc& ragarding, among Othar matters, the planned 8cope and timing ol the audit and $ignlfi¢anl audit findings that w$ Id¥ntlfy during our audit. Use Of Our Report This rèport is mad8 solely to the charity's Iiuslees. as a body, in accordance with Part 4 01 the Charities IA¢¢ounls and Reports) Regulations 2008. Our audit work has been undertaken so that we mighl 51ale to the ¢harrty'6 IfU$lè¥S those mattèr5 that wa ¥rè réquired to slate to them in an guditor's r&port and lor no Dlher purpose. To th& lullesl extent permltted by law. we do not 8c¢epl or ?$sume responBibilily to anyone other than the ¢harlly and th8 charity's trus18es BS a body, for our audit Wofk, lor Ihls report, or for the tsplnions wp have formed. Inam & Co Ltd 2810112026 Inam & Co Ltd ¢h¥rtered Certified Aecountants & statutory Auditors, 459 Green Lane, Goodmayes, Essex IG3 9TD Inam & Co Ltd is eligible for appointment 0$ audrtor of the charity by virtue of its 81iyibillty for appointment Ès auditor ¢f a ¢pmpany under section 1212 of the Companiès Aet 2006. Page 9
London Islamic Culture and Recreation Society {Known as ICMGI Statement of Financial Activities For the Period 5 March 2024 to 31 March 2025 31 March 2025 4 March 2024 Unrestricted Restricted Total funds Total funds funds funds Notes INCOME AND ENDOWMENTS FROM.. Donations and legaciès Char(table activities 185,159 185,913 24,737 209,896 185,913 503.053 181.681 371,072 24,737 395,809 684.734 EXPENDITURE ON: Raising funds Charitable activities 116,6851 1107,6241 116,6851 111,8681 17001 1108,3241 1373,3001 1124,3091 17001 1125,0091 1385,1681 NET INCOME 246.763 24,037 270,800 299,566 Transfers befvrfeen funds 21 91,426 191,4261 NeT MOVEMENT IN FUNDS RECONCILIATION OF FLJNDS.. Total funds brought forward 338,169 167.3891 270,800 299,566 932.628 93,806 1,026,434 726,868 TOTAL FUNDS CARRIED FORWARD 21 1,270,817 2fj,417 1,297,234 1,028,434 Th$ not$s On pag9$ 14 to 28 form part ol th85e flnancial st8t•ment8. Page 10
London Islamic Culture and Recreation Society (Known as ICMG) Comparative Statement of Financlal Activitles For the Period 5 March 2024 to 31 March 202S 2024 Unrestrleted Restrlcted Total funds funds funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable acllvrtie5 503,053 189,746 503,053 181,681 11,935 672,799 11,935 684.734 EXPENDITURE ON.. Raising funds Charrt?bl$ 3Ctwilios 111,8681 1370,5501 111.8881 12,7501 1373,3001 1382,4181 12,7501 1385,1681 NET INCOME 290,381 9,185 299,566 Transfers betr¢een funds 21 133,9441 33,944 NET MOVEMENT IN FUNDS 256,437 43,129 299.586 RECONCILIATION OF FUNDS: Total funds brought IopNard 676,191 50,877 728,888 TOTAL FUNDS CARRIED FORWARD 21 932,$28 93,806 1,026.434 Tho nol06 on pages 14 10 28 form part olth*$e flnan¢ial st81gments. Page 11
London Islamlc Culture and Recreation Society {Known as ICMGI Statement of Financial Position As At 31 March 2025 31 Mai¢h 2025 4 Mar¢h 2024 Unre$tricted RestrÈcted Totol funds Total fund$ funds funds Notes FIXED ASSETS Tangible Assets Investments 14 3,739,313 647,629 3,739.313 3,632.595 647,629 646.195 15 4,386,942 4,386.942 4,278,790 CURRENT ASSETS Debtors 16 90,070 43,981 90,070 70,398 122,627 36,795 Ca$h gt bank and in h8nd 26,417 134,051 26,417 160,468 159.422 CredEtor$'. Amounts Falllng Due Withln One Year 1Y 1309,7851 1309,7851 1272,7761 NET CURRENT ASSETS ILIABILITIESI 1175.7341 28,417 1149,3171 1113,3541 TOTAL ASSETS LESS CURRENT LIABILITIES 4.211,208 26,417 4,237,625 4,165,436 Credltor•'. Amount$ Falllng Du• After Mor• Than On& Year 18 12,940,391) 12,940,391) 13,139,002) NET ASSETS 1,270.817 28,417 1,297.234 1,026,434 FUNDS OF THE CHARITY Restricted Funds 26,417 1,270,817 93,806 932.828 Unrestricted Funds TOTAL FUNDS 21 1,297.234 1,026.434 The financial stal8m8nls w&re approved by the board ol Iruslees on 28 January 2026 9nd w•r• signed on rt8 behalf by.. U 8ilaloglu Tru51ee The ntstes on pBge$ 14 to 28 fofm part of these financial 5tat8mentS. Page 12
London Islamic Culture and Recreation Soclety (Known as ICMGI Statement of Cash Flows For the Perlod 5 March 2024 to 31 March 2025 31 March 2025 4 March 2024 as restated Notès Cash flow$ from operating actlvities N8t cash generated from operation5 218,707 599,037 Net eash generated from operating adivf(ies 218,707 599,037 Cash Ilows frgm Inv¢sting activities Purchasè of tangible assets Purchase ol tslh8r fixed asset invfrslments 1183,6701 11.4341 1211,3121 Net eash used in investing aclivfties 1185.1041 1211,3121 Cash flows frtsm financlng actlvltle Proceeds from n¥w bank borrowings Repayment of debenture loans Repayment of glher loan$ 1317,7221 168,9991 156,9661 Net cash used in financing activKies 1443,6871 Incr98$elldocrogs&I in cash and cash eqvivalgn18 Cash and ¢86h equlval8ntS at beginning of period 33.603 36.795 155,9621 92.757 Cosh 8nd cash equivalent$ at end of pèriod 70,398 38,795 Page 13
London Islamlc Culture and Recreation Society (Known as ICMG) Notes to the Statement of Cash Flows For the Period 5 March 2024 to 31 March 2025 1. Reconciliatlon of income to cash generated from operations 31 March 2025 4 March 2024 as restated Net income 270,800 299,566 Adjustmgnts for.. Interest expense Depreciation ol tangible assets Loss on disposal of tangible a8$el$ Foreign exchange IgainslAosse5 A4ov8menls in working capital. Decreasellincreasel in trade and other dgbtors Increa6e in trade and oth¥r cr9dilors Prior year adjustment 168,9991 76,952 68.999 61,063 835 67,214 1129,6111 32.556 37,009 1102,0571 183,737 19,680 Net ¢a$h g¥ngrated from operation5 218,707 599.037 2. Cash and ¢ash equlvalents Cash and c88h equivalents, as $tst*d In the Statement of Cash Flow5, r8lales lo the following bt¥m8 Sn th• Balance Sheet.. 31 March 2025 4 MArch 2024 as r&stat•d Cash St bank and in hand 70,398 36,795 3. Analy$ls of changes In net debt at S Mar¢h 2024 C4•h flows Falr valu¢ and As at 31 March lorelgn 2025 •xchang• movements C#sh 81 bank and in hand Deb15 1811ing due aftar mor8 than one year 36,795 13,139,002) 33.803 70.398 12,940,391) 198.811 13,102,2071 33,803 198.e11 12,869,993) Page 14
London Islamic Culture and Recreation Society (Known as ICMGI Notes to the Financial Statements For the Period 5 March 2024 to 31 March 2026 1. Goneral Informatlon London Islamic Culture and Recreation Society (Known as ICMGI is an unincorporated charity regi$lered wrth the Charity C)mmisSlDll. registered charity number 1057815. The principal address is 399401 High Road, London, N17 6QN. 2. Statement of Compllance The financial statements have been prepared in accordance with the Charitie5 SORP IFRS 1021 "Ac¢ountSng aniy Reporting by Charf(ies'. Statement of Recommended Practice applicable lo charitie5 preparing their account5 in accordancg with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" Financial Reporting Standard 102 "The Financial Reporting standard applicable In the UK and Republic ol Ireland" and the Charrties Act 2011. 3. A¢countlng Pollelts 3.1. BASIS of Preparatlon ot Flnanclal Statements The fin8n¢i81 ststgmenls havo been prepared undèr the historical cost Convention. The charrty Is a Publie Bènefit Entity as delinad by FRS 102. The presenlallon currenoy of the financi81 slatèmen151s the Pound Sterling [£1 whl¢h1s olso tho functional ¢urroncy. 3.2. Exemptlon From Prtrparlng Con$olldated Fln¥nelal Statèm•nts Tha financial statemènts present informah'on about the charity as an Indlvldual enlily and not about 115 group. The group accounts ar not prepargd the year because its group income is less than £1 m and its subsidiary ha8 no income for this year. 3.3. Golng Concern Dl$¢lo$ur¥ BaJl¥ of preparatlon and &$sessment ol golng concern At the p¢inl of appr¢ving thè annual accounts. th• trusteés are satisfied that the charity has sufficient resourcès to ctsntinue opera11no for the foresee¥bla future. Tha balance sh86t shows nèt current liabilities of £149,31712024'. £113,354). The trustees have undertak&n appropriate onqulries and ar¢ ¢¢nfldenl Ih8t Ihg eharily has a¢¢es$ 1¢ tha rgsour¢e5 and funding sUPPOrt required to meet ils obligation5 a5 they f811 dup. A$ outlined in the tru$leès' rèport und8r'Plans lor thg futuro the charity 15 actively working to expants its ch$ritable aclivitias, with the aim ol incr•asing both its income and its impact. To support th6s8 objèctives 8nd lo ea$e pressure on short term cash flows, thè eharily has ronagotialgd thè terms ol its loan, securing a threa year rèpayment hollday with no interest. Furthermore, while th¢ charity anticipates 9rowth in income in ensuiny yèars. it acknowlèdges that 11 thls increase does not malerialisé, it may face challenges in meeting certain obligations, incSudlng amounts owed lo IGMG in Germany. IGMG has, however, prcvlded a formal ¢ommilmgnl lo continuo suppgrting Ihg charity financially lor the for8seeable fiJtur•. 3.4. Fund Accountlng Unrestrictsd funds can be used In ac¢ord?n¢e wllh the charf(able obl•¢tives at the dS$¢r¥tl¢n of th& tru$lee$. Oe$ignal$d funds comprise unrestricted funds that have been set aside by the trustees for a specrfic purpose. ReBtricted funds arg lo be us•d lor $po¢lflc purposes Iln¢ludlng Z8kall as lald down by thg donor. Th$ Zakat fund ¢onsisl$ ol donations given specifically for Zakat purposos and is treated as restrleted Income. These funds must be applied solely in a¢cordan¢e wrth 151amic principles of Zakat. and may only be used for beneficiaries and act1vilies that meet the required eligibility criteria. 3.5. Incomlng R•sources Income Unresiri¢td income is available for expenditure approvèd by the Board. Rèstricted income is available for ÈxpendrtUTÈ in accordance with the purpose specrfied by tho donoi. Incoffl8 5s credited lo thè Statement of Flnanclal Aetiviti&s when entill&menl can be demonstrated, rgceipt is prob8bl8 and tha amount can bg re118bly measured using ither th• p•rformanco model or the acerual model. al Donations and legacie¥ Donations from supporters arè accounted for whan rècèivèd. PecLiniary legacies are recognised on notification providd there is no known dispute and evldènco thère are sufficient monies in the ostate to make a distribution. Entitlement to other legacies is deemed to bé al the earllpr of paymènt being received or notification of a distribution or notification ol the fin81 estate accounts being approved by the executors. bl Uqbah income The contribution toward5 fvneral assistance 15 recogni5ed when a registration pro¢e55 1$ completed and 8munl15 received. ..CONTINUED Page 15
London Islamic Culture and Recreatlon Society (Known as ICMG) Notes to the Financial Statements Icontlnued) For the Period 5 March 2024 to 31 March 2025 3.5. Incomlng Re50urw-contlnu¢d cl Agency Arrangements Dufin9 the year, the charity acted a3 an agent in administrating pilgrimages on behalf of a third party. In accordance wh the ¢harily'5 accounting policy. such related transactions are not iecognised as income Of expenditure in the Statement of Financial ActNilies. 3.8. Resour¢es Expgnd Expendlture Liabilitl8s are recognised as expendrture a6 soon 8S there is a18gal or oonstiuctivé obligation committing the charity to that expenditure. fc is probable that a transfer of economic benerrt5 wll be requirgd in settlem8nt and the amount ol the obligation can be measured reliably. xpendrture is accounted for on an accruals basis and has been ¢la5s1fied under headings that aggregate all cost related to the category. Where costs cannot be dlrecuy attributsd to particular headings they have been allocated to actNilies on a basls consistent with the u6e ol resourc&s. Grants offed subject lo condrtlons which have not b&en mot at the year end csate are noted as a commitment but not accrued 8$ ¥xpenditur8. Charitable actlvttl¢$ In respect ol income from govornments and other institutional donors, entitlemont Is obiained when only administrative rfjquiramonts exi$l, and all di5bursemenl and other enlill&mènt condits'ons are satisfied. 3.7. Tangible FIX A#¥gt¥ And Depreclatlon Tanglblp fi¥$d as$8ts are measured al cost less a¢¢umul8led depreciation and any accumulated impairment 10g$es. Depre¢i8llon Is provided at rates calculated to wrlle off the ¢o$l ol tha fixed assets, less their estimated re51duèl v8luo. tsvtr their expoetod useful lives on the following bases.. Freehold Leasehold Flxtur&s & Fittings Buildlng element- 50 Y&ars Over the terms ol the l&asath10 Year5 On 20% straight line basls Land and buildings are slated al cost. Only buildings are depreclaled ¢ver their &¢tsnomi¢ lil8 on a straight.lin8 basis. The aconomic lifè 1$ eurr8nlly estimated not x¢eod fifty years. The charity owns a treehold property used as ils Secretariat bui5ding. The prèmisès sèrvé as th6 central hub for the charity's govornanc8, adminislralion, and programme coordination. As part ol ilB commilm?nt lo collaboration and sector strengthening. the charity provides space wthin the building to other like-minded charitable organisètions whose work aligns with its own charrtable purpos8s. Any rental contributions receivèd from these organi5alions are sel al c051-recovgry l&vèls and are considered merely incicSental to the charity s primary Use ol the property in furtherance ol ils charitable objective5. The Secretariat building is therefore held and classified as a tangible fixed asset used for charitable purposes, rather than as an investmont property. Depreciation is charged in accordance with the charity's a¢¢ounliny policies. Repair5 and maintenan¢• èxpanditura to ensure that a tangible fixed asset maintain$ Ils previously rocognisèd standard of performanc• 1$ expensed in the period11 Is In¢urred. 3.8. Inv$tm•nt$ Investments in 8ub$ldlarl•s Inv¢slments In subsidiaries are accounted lor al ¢ost 8nd long term fundings for charitable purposes, less impairment in the indiwdual rinancial slatamènts of the parent undertaking. Pagè 16
London Islamlc Culture and Recreation Soclety (Known as ICMG) Notes to the Financial Statements (continued) For the Perlod S March 2024 to 31 March 2026 3.9. Cash and Cash Equivalents Cash and cash equwalents ale basic financial 3ssels and include cash in hand and deposits held at call wrth banks, other short4erm highly liquid invgstmenls that matuig In no more than three months from the dale ol acquisition and are readily convertible lo 8 known amount of eash with insignili¢ant rlsk of ¢hgnge in value, and bank gverdrafts. Statement ol Cosh Flows The charity use5 the indirect method to present rts cash flows from optrrating activities. Cash flows from op9raling adivilies are generally the cash effects ol events that enter into the determinakn'on of n$t Income. Classes of cash flows are investing. financing, and operating and requires the Charity to classify each cash receipt and cash payment, in one ol these three classès. Thè classification is based on the nature of the cash flow, without regard to whether a cash flow stems from another item. A eash fiow is first èvaluated to determine if it meets either the definition ol an investing or financing cash flow. If a cash flow di)0$ not mèèt thè deftnitlon of an investing activity or rinan¢lng acllvity, the cash flow 15 classified as an operatlng activty. 3.10. FlnanelAI Instruments Th ehsrlty only ènt&r$ into basic financial instrument transath-ons that r85uII In the recognlts'on ol financial assets and finan¢lal liabilltle6. Finaneial instrumèntg arè racogni$¥d whèn th• eharily bÈ¢omos a party to the conlraclual provi5ion5 of the inslrumenl. Financial assets and liabilities are initially measured at the transaction price, including transacti¢n co$15, unless the arrangement constitutes a financing Iran5acts'on. Subsequent measurement is at amortisad cost using tho offo¢tivè Inl¢rèst m$lhod, except wher8 stated oth•rwis• below. Flnanclal A8$ets Flnancl81 a5s#1s include ¢ash al bank, short-l&im depo$lls, trade and other receivable5. Th85e assets are mea$ured al 8mort15ed co$t. less any Impairment. Impalrmenl Ig 88$e86?d at each reporting date and recognlsed where th&re is object$ •vidance that the 855et 15 not re¢overable. Flnancl41 Llabllltlej Flnancial Ilabilllles Include trade credllors, accruals and loan balances. Thes8 are initially recognis$d al the transaction pric8 and subsequently measured at amorb'sed cost. A financiel liability is dtrecognlsod only when th• obligation Is dis¢harged, cancelled, of oxplre$. Con¢•$tslonaTy Loan$ Whér• thg charrty r•¢elv•s loans at b&low.m•rkèt ral$ ol interest, Including luans provided al Ookn intere51 or with extended répayment holidays for the purpose ol furthering the ¢harty's public ben¥flt ¢bj¢¢tiv$s, su¢h loans ar¥ classified 85 ¢once5sionary108n$ in a¢¢or44n¢& with th8 Charities SORP IFRS 1021. Conc8s$lonary loan$ art m•asured at thg amount ol the loan gulslanding, wrth n¢ disctsunling lo present valu6. No inlre$t expen89 16 recognisgd wh$re th8 loan tfjrms $pocify a 0% Interest rate. Judgemnt6 and E$tlmat¥4 The Tru51ees assess whether loan arrangements constitute concessionary loans, linancins transactions. or basic financial inslrum8nts. Thi$ as59ssmenl includes consideration tsf interest rates, repayment terms, and whether th8 lendars intantion 1$ lo further the charity, objectives. 3.11. Forelgn Currencles M¢natary assèts and liabilities in foreign currenci&$ aro Iranslalod Inl¢ sterling al the rates of exchange ruling at the statement ¢1 flnanci81 position date. Transactions in foreign curraneies aro translated Into sterling ?t the rale ruling on the dale ol the transactlon. Exchange differences are taken into account In arriving at the operating surplus. 3.12. Taxatlon The charity is exempt from lax as all its income is eharilab16 and applied lor charitablè purposès. 3.13. Interèst reeelvablè And payable Intèrast roeeniable or payable Is eredfced or ehargèd to thg In¢omè ard expenditure a¢¢ounl in the financial year lo which i( relats$. Page 17
London Islamic Culture and Recreation Society (Known as ICMG} Notes to the Financlal Statements (continued) For the Period S March 2024 to 31 March 2025 3. 14. Rentsl Income Rental income rèpresents letting ol non-IrFvèstment propety in furtherance of the charity's objects from an operating leas¥ is rocognised OTr a straight4ine basis ov6r tho lfe of th¢ gven if payments are not made on that basis. 4. Income from Donation$ and Legacles 31 March 2025 Unreslrlcted Ro$trlcte(t Total funds funds nds Donallon6 and gifts Grant5 110.301 74.858 24,737 135.038 74,858 185,159 24,737 209,896 4 Mareh 2024 Unrestrlcted R•$trlcttd Total funds fund8 lund$ Donations and glfts Grgnls 472,704 30,349 472.704 30.349 503,053 503.053 The following donallons gnd1gga¢ies arè Included wilhln the l¢lal income from donallon3 and legacies abovg., 31 March 2025 4 March 2024 Unrastrlcted funds Unrestrlcted funds Donation for seeretBriat improvement¥ and youth centre Collections from sale ol publicatlons and books Work in harmony with other Islamic In$tUtIonS and Assoclations- Infak campaign Voluntsry donations Other donation$ and Gift ASd Cultural and religiou5 pilgrimages Collections for residential camps for adults and childrens Collections kt lfftar gatherings Collections for food parcels- Has?ne Humanf(arion 326,313 4,687 33,572 66,619 31,794 9,719 13,080 30,661 44,764 5,406 4,555 5,250 6,605 110,301 472,704 The following grants are included within the total income Irom donations and lègacies abovè.. 31 Mar¢h 2025 4 March 2024 Unrestricted funds Unrestrioted funds Hasenè HumnrtArian Imams plac&m8nts costs- MENAR E.V. Improvments lor youth facility 30,349 66,497 8,361 74,858 30,349 Page 18
London Islamic Culture and Recreatlon Soclety (Known as ICMG) Notes to the Financial Statements (continued) For the Perlod 5 March 2024 to 31 March 2025 The above eharrtable grants comprise unreslri¢ted lunding lo support the ongoing financial sustainability Of teachers and Imam5 involved in community outreach and welfare support services. 5. Income from Charitable Activf(les 31 March 202S Llnrp5tricted fund$ Re3tricted funds Total lunds Work in harmony wlh other Islamic Institutions and Asso¢lallons'. Rental ineome Funer81 support setViC83'. Community engagement programm 155,252 155,252 30,681 30,661 185.913 185,913 4 March 2024 Unr?5trlctgd funds Reslrlcted funds Total funds Work in harmony with other Islamie Institutions and Asso¢iation5'. Rèni81 incomè Funeral 5UPPOrt services.. Community èngagement programmè 1S9,746 169,746 11,935 11,935 169.74e 11.935 181.681 Following a revlew ol the charity'5 operational obligations and pgrlorman¢e in r8SPO¢t of luneral assistance activitias, Ihg Trii$lees determined that the charity'5 involvement is limited. As a re5uII. such incomè is now re¢agnis¢d 8$ general conlribulions. and the corrt$ponding carrying balancè has been reclassified lo the general fund reserves. Rental ineome represgnls letting ot non-inveslment property in furtherance of the eharily's objects from an operating lease is iecognised on a strai9ht-line bgsis Ovèr tha lil& of the lea88 even11 payments are not madè on Ihal basis. R•elas8lfflcatlon of rental Ineom Following a revlew ol income calegorisalion. the Iruslees have reconsider6d the presentation ol rtnt81 income generated from propety used in furtherance ¢f the Charity's purposes. Rental income had previously been shown within othgr trading a¢tivf(ie5. The trustees concluded that, bacaust tho properti•s ar& hèld and used lo support ttte charity's objects and the income contributes dir&ctly lo delivering charitable ouleome$. il Is mora appropriately prèsentèd within ¢harltable activities Income, This reclassification provides a clearèr refl8¢tlon of how the charity ulili905 rts gssets In pursuit of Its èlms and is ¢on51Stenl with the prlnciples ol the ChaTrti8s SORPIFRS 1021. C¢mpar8tivo figures have beon rtrstaled lo ensure consistency of presentation. The reelassification does not affect toial income, nel movement in funds, or the charity's financial position. 6. Net IncomellExpendlturel The net Incom8 is stated afttrr charglngllcr•dltlngl.' 31 March 2025 4 March 2024 Exchange diff¢ren¢g$ Depreciation ol tangible fixeos a55e15- owned GdinlL05¥ on di5POS81 ol tèngible fixgd •?Sg1$ 1127,3801 76,952 67.214 61,063 835 Forelgn txchange1galnl11ts55 The charity holds a loan denominated in EurolÉl, rnonelaiy items expressed in a foreign currency are translated Into UK Sterling (£1 at the closing exchange rate at the balance sheet dat6. At the period 8nd, the Euro 5oan was retranslated using the prevailing exchange rate and ha5 resutted in foreign exchange gain ol1£129,8111 in 202512024'.£67,214 - a10551 and included in the administration and support eosts. rèflecting the movement in the value of the Euro against UK Sterling during the period. The resulting gain ha5 been recognised in the Statement ol Financial A¢livrtle5. Page 19
London Islamlc Culture and Recreation Society (Known as ICMGI Notes to the Financial Statements {continuedl For the Period 5 March 2024 to 31 March 2025 7. Analysts of Expèndlturo 31 March 2025 Activitles undertaken directly (see note 81 Supporteosts (see note 101 Total Raising funds Promotè Islamie and Turkish ¢ultur Work in harmony rith other Islamic Institutions and Associations Events and publications Funeral support seNices Administration and support Other 18.685 19,059 38,897 19,126 397 18,685 19,059 38,897 36.047 397 16,921 1127.3801 197,293 167,6501 11,861 69,913 167,8501 11,861 Governance 133,2161 158,225 125,009 4 March 2024 A¢tlvltlo$ undertaken dlrectly 1888 not8 81 Support eo$ls lsat notè 101 Total R¥lsing funds Work In h8rmny with ¢lher l$lami¢ Institutions and A$so¢iati¢ns Funerol support services AdminlBlralion and support other 11.868 61,845 S,104 67.214 835 11,868 61,645 5,104 220,915 71.696 153,701 70,861 13,940 G¢vern&n¢• 13.940 146.666 238,502 385,1S8 Aetlvltles undortoken dlreclly Interest payable on other loan reversal- Inole 8 ats¢vp- 2025 8nd 2024 Adminlslralon and support) During the financlal pgriod. tho charity finalised revised terms wrth its principal lender in June 2024. Under this agreement, thg lender granted a three-year repayment holiday and applied a OQ/o interest rale lor the flnan¢lal ye8r5 2024. 2025 and 2D26. The lender a150 confirmed that thès• revised terms were to take effect retrospectively from the start ol the 2024 Iinan¢i&l year. AS 8 result. the reslalemenl refiecls that no intertrst was contractually payable for that pgrlod under the updated a9r8èm•nt. Consoquèntly, the int&roSt payablo on tha oiher loan for 2024 has been reversed in 2025 to remove amounts prèviously ae¢ru$d under thé original loan terms. Page 20
London Islamic Culture and Recreation Society {Known as ICMGI Notes to the Financial Statements {continued} For the Period 5 March 2024 to 31 March 2025 8. Direct Costs 31 March 2025 Work in harmony with other151amic Promote InstStytlon$ Islamie 4nd and Ralslng funds Turkish culture Associations Funeral support servleès Events and pvblications Admlnlstr411on and support Total Fundraising aclivrtie5-. Staging lundraising events 4.439 4.439 Other actMiés- INFAK Campaign and funeral support expense Advertising, markèting, dlre¢t mill and publicity Cost of good sold.. V8nu8s ¢osts Workshop consumables & catering it8ms General admini51ralion'. 38,897 397 39.294 16,688 18,$85 3,668 3,868 11,019 11,019 Consultancy lees 19,059 19,059 Interest payable.. Foreign exchange gainlllos51. In¢Sudlng h¢r loan 1127,3801 1127,3801 16,685 19,059 38.897 19,12e 397 1127,3801 133,2161 4 Mar¢h 2024 Work In harmony wlth other l$laml In$titutlon$ and AÈ*ocl#tlon$ Funeral support eTvIc•B Admlnlstratlon and support Ralslng fund$ Other Total Fundreising aetivities.. Othèr activt16s- INFAK Campaign and funeral support txpense Advèrtising, markating, diract mail and publicity DeprÈeiation-. 61,645 5,104 66,749 11.888 11,868 .GONTINUED Page 21
London Islamic Culture and Recreation Society (Knovm as ICMG) Notes to the FinanGial Statements (continued) For the Perlod 5 March 2024 to 31 March 2025 L055 on disposal ol tangible fixed assets 835 835 Interest payable.. Foreign èxchangè gainlll¢ss1, inclbding Other loan 67,214 87.214 11,868 61,645 5.104 67.214 835 146.666 9. Giant$ Payable 31 March 2025 4 March 2024 Support costg Support costs Work in harmony with other Islamic Inslllulbons and Asso¢lalions Othtrr 38.020 1,274 18,930 47,819 39.294 66,749 Grants paid to in$lluli¢n$. includtrd abova, ar8 a$ follows., 31 March 2025 4 Mar¢h 2024 EMUG e.V 38.020 18.930 The charity provided funding lo EMUG a.V., a Europoan Organisatlon sharing similar charitable aims, lo assist In the operation of edueali¢nal an health centres abroad. 10. Support Costs 31 March 2025 Events and publlcallon• Admlnl8tratlon and support other Governanc• TotAI Employee c051s". Wggas and salaries Travel and sub$ist0n¢$ oxp8ns•$ Premises expenses.. Ral#s 38,499 21.042 38,499 21,042 13.520 15,852 3,143 13.520 15,852 3,143 Light and ho81 Cleaning General adrninlstrallon.. Repairs, rgnewals and maintenance Insurance 13,998 3,298 1,999 5.774 3,216 13,998 3,2Q6 1.999 5,774 3.216 16,921 1,016 133 Printing, postage and slalionery T8lecommunicatitsns and data costs Legal fees Publications 3nd othgr Snf¢matlon 8ank and cr8dit eard eharges Sundry expenses Depreciation.. Depreciation ol flxtures and frttings Depreciation ol freehold land and property Interest payabl•'. othgr loan- interest payable 16,921 1.016 133 20,591 56,361 20,591 $6,381 1$8,9991 168.9991 .CONTINUED Page 22
London Islamic Culture and Recreation Society (Known as ICMGI Notes to the Financlal Statements {continuedl For the Period 5 March 2024 to 31 March 2025 Governance costs.. Audit fees 8.000 3,881 8,000 3,881 Accountancy l$ès 16,921 197.293 167,8501 11,861 158,225 4 Mareh 2024 Administration and support Oth•r Gov•rnan¢g Total Employa8 co$ls'. Wages and salaries Employèrs Nl Travel and sub5i51ence expenses Premises expense5'. R81$$ Light and heat General adminlstration.. Repair5, renewa15 and malntenance Insurance Printing, po81ggg and $latl¢n•iy Talecornmunications and data costs Bank and Crédit card charg•8 Sundry expenses Deprèclation.. Depreciation of fixtures and fSrting$ Dèprèciation of freehold land and property Interest payable-. other loan- intere51 payablo Govarnance costs.. Audit fees 28.530 28,530 18 16.017 16,017 15,193 20,286 15,193 20,288 4,209 2.364 2.172 3.849 4,209 2,364 2,172 3,849 746 746 1.116 1,116 7,952 53,111 7,952 53.111 68,999 68.999 10,500 3,440 10,500 3,440 Accountancy fees 1 $3,701 70,861 13,940 238,502 R•class1catson of ¢erta5n charitable *xpendltur¢ A review ol expenditure allocations was 81s0 undèrtaken during thè yaèr. Certain Costs previously recorded within charltsblè 8¢1ivilies including propfrrty related expenditure. 3eNi¢e ¢har9ès, and Support rfrlated costs-have baon roclassified to support costs or expenditure on raSsing funds where this more accurately reflects the notur8 of the expen(51ture and the activities to which it relatts.This adjustment enh8nce5 transparency in C051 allocation and allgns thè prèsentation wrth SORP guidance on distinguishing direct charitable expenditure from support and fundraising costs. Comparative figures have baan restated accordingly. Thè reclassification has no impad on total expendrture or the overall funds of the charrty. Page 23
London Islamic Culture and Recreation Society (Known as ICMG) Notes to the Financial Statements {continued) For the Period 5 March 2024 to 31 March 2025 11. Audito$ Remuneratlon Rèmunerahon re¢elved by the charty's auditor5 and their associates during the period was as follows.. 31 March 2025 4 March 2024
S festated
Audit SeTvIce8 Audit of the company's financial $lalements 8,000 10,500 Other Services Othor ll¢n-audit $ètvicè$ 3,881 12. Staff Costs Staff cts$t$ wgr8 a$ loll¢ws.' 31 March 2025 4 March 2024 as restated Wages and sèlaiigs Social sacurty costs 38,499 28,530 18 38,499 28,548 No employees recelveLI employèè ben•fits18xcluding employ6r penslon costs) lor the reporting period ol more than £60,000. 13. Av•rage Number of Employees Average number ol amployeè$ during the period was.. 312024.. 31 14. Tanglbla Assèts Land & Property Freehold Leasehold Flxlureg & Fltting8 Total Co$t or Valuatlon As at S March 2024 3,655,531 121,670 38,469 57,393 3,694,000 183.670 Additions 4,e07 As at 31 March 2025 3,777.201 4,607 95,862 3.877.670 Depre¢l•tlon As al 5 March 2024 53,111 58.361 8,294 20,S91 61,405 76,9S2 Provided durin9 the period As at 31 March 2025 109.472 28.885 138,357 N•t Book Value As at 31 March 2025 3.667.729 4,607 6e.977 3.739.313 A6 at 5 March 2024 3,602.420 30.175 3,632.595 Within the land and buSldings flgure is £1.000,000 of freehold land that is not depreoialed. The freehold property is 5ubjé¢t to a legal eh8rgÈ in favour of EMUG 8.V. In February 2025, the charty committed lo new long-term premise5 in Enfield through thé signlng of 8 10.y681 leasè agre8m8nl. Page 24
London Islamic Culture and Recreation Soclety (Known as ICMGI Notes to the Financlal Statements {continuedl For the Perlod 5 March 2024 to 31 March 2025 15. Inve$tm¢nts Subsldlarlts Other Total Cost As al S M8rch 2024 846,194 1.434 648,195 1.434 Additions As at 31 March 2025 647,628 647,629 Provl¥lon As at 5 March 2024 As at 31 March 2025 Net Book Valu? As at 31 March 2025 647,628 647.829 As al S Mar¢h 2024 646,194 646.195 18. Debtors 31 March 2025 4 March 2024 a• fe8tated Due wlthln one year Prépayments and accrued Incomo Other debtor5 15.563 74,507 10,872 111,755 90,070 122,627 17. Cr¢dltor8: Amountj Falllng Du• Wlthln Onè Y•ar 31 March 2025 4 March 2024 8s rèstated other ¢redf¢ors Accruals Deferyed Incom• 268.692 27,531 13.S62 241.304 16,718 14,754 309,78S 272.776 Other108n reclassification As part of the restatemenl, the loan maturity analysis for the year end8d 04 March 2024 has been revised. Under the original loan terms, 8 Portion of tho loan was classified 8$ falling duè within one year. Following the lender's confirmation that the revised concessionary terms applied rBliospgctwely from the start of the 2024 financial y&8r, no repayments were contradually due within e1ve months ol the balanca sh•et dato. Accordingly, the entire loan balancé has been reclassified as lalling due arter moré than one year. Page 25
London Islamic Culture and Recreation Society (Known as ICMG) Notes to the Financlal Statements {continuedl For the Perlod 5 March 2024 to 31 March 2025 18. Creditors.. Amounts Falling Du• Aftèr More Th#n One Year 31 Mar¢h 2025 4 March 2024 as restated Other loans 2.940,391 3,139,002 other loan reclas5ificalion As part of the restatement, the loan maturity analysis for the year trnd8d 04 March 2024 has been revisèd. Under the original loan tfrrms, a portion of the loan was classified as falling due within one year. Following thè lendèr's tonfirmalion that the revised concessionary teims applied retrospectively from the start ol the 2024 finaneial yèar, no repaymgnls were conlraclually due within twelve months ol thg balancè shept dale. Accordingly, the entire loan balance has been reclassified as falling due after morè than tsne y8ar. Of the creditors falling due after more than one year the following amounts are du8 after more than five ygors. 31 March 2025 4 March 2024 as restated Other loans 2,940,391 3,139,001 An analysis of th6 malurrty ol loans 15 glv&n below.. Th$ olhgr loan is prgvided by EMUG e.V. (Ggrmanyl, with whom the Charity maintains a c1058 working relationship. Thp loan carrie5 an ennual int*rost rat• 012.50% and is repayabla in lull by 2032. During the financial period. the charity formally agreed revised ongoing terms with f(s principal lender. Tho agr8ement provid•d a thr@è.yèar rèpayment holiday and a 0% interest rale lor the financial period covèring 2024. 2025 and 202fj. Thè lender conlirm8d that these rgvisèd term$ were intended lo apply rplr05PeCtwely from the beginning of the 2024 financial year. The loan Ihersfora meats the definition ol a concessionary loan under Charity SORP IFRS 1021 and is measured al the amount ouislanding wilh no interest rèe¢gnisèd. Accordingly, the 2024 comparative figure5 havé been resl•led lo remove intere51 that had previously been aceruéd under the original loan tprms. The reslalgmenl reflects Ihg fa¢t Ihol no interest was conliaclu8lly due for that period under the r•vi5gd 8gr99m9nt. 19. Dglerred Incomtt Deferred income movements In the period were as follows.. 31 March 2025 4 Morch 2024 Balance al the start of the period Income deferred in the current perlod Amoun15 released in income from previous perlods 14.754 13.562 114,7541 14,754 8alan¢¢ al the end of th¢ perlod 13,5$2 14,754 Deferred income comprises rental income received in advance. 20. Other Commltment¥ The total of futur• minimum lease payments under non4ancèllablp operating leasès art as following.. 31 Mah 2025 4 Mareh 2024 as restated Not later than one year Laier than onè year and ntst latèr than f1v8 yèars Later than fwe years 44,654 178,618 223,270 446,540 Page 2S
London Islamic Culture and Recreation Society (Known as ICMGI Notes to the Financial Statements {contlnuedl For the Period 5 March 2024 to 31 March 2025 21. Movement in Funds As at S March 2024 AS at 31 March 2025 Income Expenditure Transfer¥ Unrestricted funds General.. General unrestiicled lund 932,628 371.072 1124,3091 91,428 1,270.817 Restrlcted funds Funeral Assislaneo Zakat 93,806 193,8OSI 2.380 24,737 17001 26.417 Total rgstrlctod funds 93.806 24,737 17001 191.4261 26,417 Totol lund8 1,026,434 395.809 1125,0091 1.297,234 AJ at S March 2023 As at 4 March 2024 Income Expendllure Tr*nsfeT¥ Unrestrlcted lunds General,, Genor81 unreslrlcted fund Re$lrlcted fund8 Funeral As$lslan¢• 676.191 672,799 1382,4181 133,9441 932,828 50,677 11,925 12.7501 33,944 93,806 Total fund• 726,868 684,734 1385,1881 1,028,434 Ra$trlcted funds are fund6 whi¢h grè lo be used in accordance with specific reslrlclions imposed by donors or which have bean rais&d by the charity lor perticular purpose8. The ¢osl ol raising and administering such lund5 are ¢h8rgtd against the specifie fund. The aim and usa of èach r&stricted fund is $8t out in the not8$ to the financial statements. AS gxplainod in note 5, the don8tion re¢èivod from its community for funeral a$si3lan¢o 59 a$$$8$8d as gan•ral donations thgrefore thè ¢arrying balance is Iransfered lo th$ g?neral rèserve. 22. Post Balance Sheet Ev•ntB Th¢ charrty took possession of the l&asèd building in Enfield. 23. TranBaetlons wlth Trustees Nonè ol the trustees recewed any rèmunèration or any other benefits Irom an employmént wKh tho eharity or a related èntity durin9 the current or previou? year. No tru51ee expenses have be6n incurred. Page 27
London Islamic Culture and Recreation Society (Known as ICMGI Notes to the Financlal Statements {continuedl For the Period S March 2024 to 31 March 2025 24. Related Party Disclosures The Charity Is required to disclos& material transacb"on$ with rel8t¢d partiès, both Indwiduals and entities that have tha pot&ntial to ¢ontr)l or Inftuence ex¢hang8s wilh thè ¢harity. The following transactions were carried out with the related parties.. Transaction with Trusltses During the year, the Chair contributed towards g8ner81 donation totalling of t2.430 anij R Gocko contributed towards donation totalling of £100. Transaction with Management Council During the year, Mehmet GUngOrdLI received a salary and contributed to general donatlons of £250, Adem Ozd¢mir paid in genaral dnaon of £730, F Yilmz paid in general donation of £380. Transaction with Connected and affiliated charities During the year, Hasene Humanitarian Aid UK p8ld £18,000 lor the u9e of the Charity's secretariat and its facilities. The Connected charity also provided a grant of £24,73712024'.£30,3491 towards the Charity's Humanitarian projects. The Alberonious Foundation whose trustees are Ubeyde 8ilaloglu and Rilal Gokce, arg al$0 trustèes of the Charity. The Alberonious Foundation paid £130,000 for the use ol the LICARS secretariat facilits'e5 and sludenl hostel ac¢ommodation. The Peckham Mosque provided an un5e¢ured loan of £8.000 lo the Charity which was repayable on demand. The other loan is provided by EMUG e.v. IG?rmanyi and thè Charity's has a clos6 working relationship. The loan is scheduled to be repaid by 2032 and attracts an inleres1012.500/0 pa. Thglgan 15 sècurèd by way tsf 8 legal charge over the Freehold property. LICARS affiliated charilias are not und¢r Common control and vSc6 versa, However, they have close working and hence below IransaclSon were recorded during the year. ICMG- Edmonton branch paid ranlal income of £8,059 for the use ol the Charity's Secretariat lacililies. 25. Controlllng Partlej Th8 Charrty is controlled by (ts Board of Trustees. P3ge 28
London Islamic Culture and Recreation Society (Known as ICMG} Detailed Statement of Financial Activities For the Period S March 2024 to 31 March 2025 31 M4r¢h 2025 4 Mar¢h 2024 Tot81 funds Ttstal funds INCOME AND ENDOWMENTS FROM: Donations and leg4cle$ Donations and gifts Grants 135,038 74,858 472,704 30,349 209,896 503,053 Charltable Activities: Work In harmony wlth other 18lamlc In$tltutlon5 and Assoclatlons Rental income 155.252 169,746 155,252 169,746 Funeral support $orvle•s Community ong8ggmonl programme 30,661 11,935 30,661 11.935 395,809 684,734 EXPENDITURE ON: Ral8lng fund$ Adverti$lng, mark8ting, direct mail and publS¢ily 116,8851 111,8881 118,6851 111,8881 Charltabl? A¢tlvltle$: Promote Islamlc and Turkish cultur¢ Consublancy lees 119,OSg1 119,0591 Wofk In h4rmony wlth other181amlc In5titutlon$ and A$$oelatlons Other a¢tivtl¢s- INFAK Campaign and fungral support expenstr 138,8971 161,6451 138,8971 161,6451 Events publlcatlon• Staging fundraislng $venls Venues costs 14,4391 13.6681 111,0191 116,9211 Workshop consumables & catering items Publications and othèr information 138,0471 Funoral support services Other actwtiesv INFAK Campaign and funeral support expense 13971 15.1041 13971 15,1041 Admlnlstratlon and support Foreign èxchange gainlllossl, including Otherlogn Wages and salaries Employers Nl Travel and subsistence expenses Ratès 127.380 138.4991 167,2141 128,5301 121,0421 113.5201 115,8521 13,1431 113,9981 116.0171 115,1931 120.2861 Light and heat Cleaning Repairs, renewa15 and m8inlen4n¢F 14,2091 ..CONTINUED Page 29
London Islamic Culture and Recreation Society {Known as ICMGI Detalled Statement of FSnan¢Sal Actlvltles (contlnued) For the Period 5 March 2024 to 31 March 2025 Insurancg 13.2981 11.9991 15,7741 13.2161 120,5911 156,3611 12,3641 12,1721 13,8491 Printing. postage and stationery T616communications ond data cost$ Legal lee5 Depreciation ol fixtures and fittings Depreciallon of freehold land and property 17,9521 153,1111 169,9131 1220,9151 Other Loss on disposal of tangible fixed assets Bank and ¢redit card Chargès Sundry expenses Other loan- inlerèsl payable 18351 17461 11,1161 168,9991 11,0161 11331 68.999 67,850 171,6961 Governance Audit lees 18,0001 13.8611 110,5001 13,4401 Accountaricy fees 113.9401 1125,0091 1385,1681 NET INCOME 270,800 299,566 Page 30