REC.JSTERED COMPANY NUMBER: 03142456 (Lngland and Wale5) REGISTERED CHARITY NUMBER: 1058998 ort of the Trustees and Finaneial Statements for the Year Ended 31 December 2020 for Islamic Centre of En land Ltd
Islamic Centre of En l#nd Ltd Contents of the Finaneixl Statements for tlie Year Liided 31 December 2020 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Aetivitles Balanee Sheet Notes to the Financial Statements 10 to 19
Islami¢ C¢ntre of En land Ltd ort of the Trustees for tlic Year Ended 31 December 2020 The trustees who are also dire¢tars of the charlty for the purposes of the Companies Act 2006. present their i'eport with the finaneial stateinents of the charity for thc year ended 31 De¢¢mber 2020. The tstetS liave adopted the provisions ofAccoutLling aiid Reporting by ChaTjties.' Statement of Recomtnended Pi"actice applicable to cliai'ities prcparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic uf Ireland (FRS 1021 (effective l January 2019). OBJECTIVP:S AND ACTIVITIES Objectii'es and aims The company 15 a rc£istered chariry witli the object of advan¢ing the ielision of18lam and education, and tht Pl'OV15iOT] of social and religiou% welfare activities. In planning the charity's activities 2nd warking towards achieving the chai'ily's objective5, the trusTres have considercd the Cliarity Commission'% guidance on public benefit. Sl2nificant activities The chai'ity has two 1]dS Restricted and Ullresti'icted,. The restricted fund has i'esulted froin an insurance claim which will be used specifically towards refijrbishment of the building. The uni"tstI'ic¢ed fund is used to Tnanage day -to-day ullre5tticted costs, and foi. the purposes of ineeting tl)e objectives of Islamic Centre vf England Ltd. During the year, the fund was iltilised for the following activities.. Publicibing ofislam Thi5 Wdb the main activity of the chai.ity and it was Caled out by the publication of bi'oehures, pamphlets and the production of filins and video for free distribution to the public. The CentsE also atranged weekly religiolls programs in En¥lish and other languages. Madrasa classes were also licld to teach Quran to students. Cultural and religious support During the year, donations were made to various Islamic centres throughout the UK. Social, religious and welfarc activities Dui'ing the ycar, tlie chai'ity orgaiiiEed various aciiviiies in ¢clebration of Ramadan, F_id, H&ii and othei. Islamic festivals for mcmbers and new converts wl)o have no aff51iation with otliei. Islamic eomniunities. Counselling sessions were a150 available foi. those with marriage and faTnily predi¢amenLs. Other activities Othei. activities were organised and held by the charity dujing the ycai including tt'ips such as Chessington Theme Park and Quran reading competitions. Future developments The ¢harity will continue to focus on promoting the religion of Islam and education, and theprovision of social and i'eligious facilities. The ¢liarthty continiieb With the efforts to modelSSe the mosque, and to carry out repairs and maintenance to the buÈlding. The trUSe5 considei. that the current economic outlook due to Covid-19 will not rnatei"ially affect the Charity. Page I
Islami¢ Centre of En land Ltd Re ort of tlie'l'rustees for the Year Lnded 31 December 2020 OBJECTIVES AND ACI'LVITIES Fin#nciitl pts&iÉion The Stateinent of Financial Activities shows how the ¢harity's funds l)ave been applied during the year. The gross i'eceipls of die organisation were £625.466 {2019- £583,641) of which £31.018 {2019-£162,887) was raised iniernally froin the sale of books and Cassettes, t]ie hire of the coiiference hall, fces chaTged in connection with the CORduct of marriages, otli¢r rcligious activities and insurancc clain. During the year the charity Teceived Coronavirus Job Retention Scheme grant of £109,47612019-Nil) Donations directly related to the principal activities an)ounted to £484,96512019- £420,699}. On 31 Dee¢mber 2020, uni'estricted and rcstricted funds were £4,300,600 and £28,683 respectively. As thc charity's income is dependent upon the goodwill of fellow worsliippers, the tnanaging tiustees al'e of the opinion that the level of dir¢ct activities should be proportionate to such income. The trustees consider that the net income from unrestricted fund of £62,142 (2019 - net expenditure £132.103) is as expcctcd for the year. Tlie fair value has not been used for fi"eehold propety trustees consider Et would be an extra expense for the chariry ta obtain the valuatioii of the freeliold property. In the opinion af the trustees the fair value of freehold property is in excess of £6m but no adjustments have been rnade in the balance sheet. STRUCTURE, GOVERNANCE AND MAIYAGEMENT CTovcrning document Tlie charity is Controlled by its governing documenl a deed of trust, and constilutes a limited company, limited by guarantee, as dcfined by the Compani¢s Act 2006. Tlic charity is fully compliant witli the Charity Commission Governance code. The chai'ity has 5Ct a cleai business stiategy alld defined clear roles and responsibilities for tlie trusTres. Tli¢ Charity is vei"y mucli focused 10 ¢nsurc compliance witli the laws and regulations. The charity is nor involved in nd raising activities. Recruitment and appointment of new trllstees The lrnstees may appoint a person who is willing to act as a tNstee. Organisation#l structllre The trustees of151ami¢ Centre of Eng]Id Ltd ai"e members of the council of management. The directors of Islainic Centie of England Ltd are the Trust's officers. The trustees 'e responsible for the overall management and control of the Trust and meet regularly to manage its affall"s. Staff re&oiirces are divided into religious and cleric8, educdtion and promolion of Islarn, finance and administration. Induction and training of new ti'u$tee5 New trust¢cs receive ali induction early on in their tenure. thus ensuring their full iinderstanding of the organization, its operations. its Staff and its ethos and values. The induction proces5 sets out briefs to new tnLStces, what is expected of tivstees by the chaiity. the aw and th¢ Charity Commission. New trustces also receive regular updates and briefings on the above matt¢rs from senioi ttustees. Reserves poliey Accumulated funds Comprise the &ccutnulated suq)lus or deficit on the stateinent of financial activities which are available for use at the discretion of the tnjstees of Islamic Ccntre in filliheianLe of the objectives of the chaiity. The funds a% at 31 December 2020 were £4,329,283 (2019 4,267,141). The trustcc.E cot]sider that the ideal level of rescive of £IOO,000 deemed appropriate for tlie chaiity. Page 2
Islamie Centre o( Eli Idnd l.td Re ort of the Trustees for the Year F.nded 31 December 2020 Related parties The chai'ity does not hold assets on behalf of another charity. Tlit related paities are the directors who are also ttustees. S'I'RUCTL'RE, GOVERNANCE AND MANAGEMENT Risk managetThent Tli¢ tstetS liave a duty to identify and review the i'isks to which the charity is exposed and to ensui'e appj'opriate controls ar¢ in place to provide reasonable assurance against fraud and eThr. Thc managing tSleeS have exaTnined the major strategic, busines% and operatioi)al risk.8 wliicli the organi7.atii)n faces and confirn] that system% have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these I'isks. The trustees have ideiitified Lliat tlie main risk for tlie chaiity is iliat of finallcial sustainabiliry. Tlie ti-ustees r¢8ularly review tlie availability of liquid funds. along with actively managing tlie charily's workillg capital to ensui'e this 1.isk is minimi%ed. Non-financial risks arising from the welfare activities and i'eligious activities the charity engages in have also been considered. These consist of health and safely risks, food hygielle risks, and fire i"i5ks that arc related to the pei'fomiance of the chariry's activities. These risks are managed by ensuring Iiealtli and safety, fire, and foud hygiene law.% and i"egulations 't followed, along with i'egular traslling for Staff woi'king in dll of the.%e OPCTational areLs. REfERENCE AND ADMINISTIiATIVE DETAILS Registered Company nutnbcr 03142456 (England and Wales) Registered Charity number 1058998 Registered office 140 Maida Vale London W9 IQB Trustees S H Moosavs Dr A A Hc%limati Rafsanjani (resigned 6.4.211 M A Hussain (appointed 29.7.211 Dr S T H Z Wasti (appointed 6.8.21) Ms Z Tharoo Ire8Lgned 16. 1.20) Comp2ny Secretayy S H.Moosavi (appointed 16.1.20) M5 Z Tharoo {resigned 16.1.201 Auditors WCSL Chart.Cd Accountants S Wieland Road Nortliwood Middx HA6 3RD STATEMENT OF TRU8TEES' RESPON,SIBILITIES The lrnstecs (who al'e also the directors of Islamic Centre of England Ltd for the purposes of tompany lawl are responsible for pieparing the Repurt of the Trllstees and the fjnancial statements in accordance with applicable law and United Kingdom Page 3
Islamic Centre of En land A.td Re (brt of the Trustees for the Year Elided 31 Deeember 2020 STATEMENT OF TRUSTEES, RESPONSIBILITIES - ¢ontillued Accounting Standai'ds (United KinBdom CIenerally Accepted Accounting Practice). Compally law requires tile trustees to prepare financial staMentS for each financial year wliich give a ti'ue and fail. view of the stat¢ of affairs of the charitable COTnpany and of tlie it]toming resoui'ces and application of resources. in¢luding the income alld expenditure, of tl)e cliai'itable company for that pei"iod. Jn piepai'ing those financial statcment5, tlie truste¢s aic requiTed to select suitable accounting policies and then apply thein ¢onsisiently' obscrve tlie n)ethods and principles in the Charity SORP: makc judgemenÉs and ¢stimates that are r¢asonable and piudent., prcpaic the financial statements on the going cojicern basis unless it is inappropriate to presume that the charitable company will continue in business. The tYuste&s are responsible foi. keeping proper accounting records whieh disclose with reasonable accuracy at any time the financial position of thc cliaritAble company and to enable them to ell5ure thal the financial Statements comply with the Companies Act 2006. They are also responsibe for safeguardinu the assets of the challtable compaiiy ]d llence for taking reasonable stcps fui" the pi"evention and detection of fraud alld otlier ilTegularitie%. In so far as the tTUStees are aware.. there is no relevant audit infomiation of which tli¢ charitable coinpany's auditors are unawyLre', and the tNstees have taketL all steps that tlicy ought to l)av¢ taken to make thems¢lvcs aware of any relcvant audit infomiation and to establish tliat the auditors are aware of that inforn)ation. Thc ttustees (who are also the directors of Islamic Centre of England Ltd for die purposes of company law) are respon%ible for prepariiig tlie Rcport of tlie Trusiecs and tjie financial stat¢mellts in accordance witli applicable law and United Kingdom A¢¢oulltin8 standai.ds (United Kingdom Generally Accepted Accounting Practice). Coinpany law requiies the tw%recs to pi'epare financial statements for each financial year which give a tTue and fair view of the state of affairs of the charitable company aiid of the Incoming resoui'ees and application of iesources, including ihe incoine and expenditui'e, of the charitiible coinpany foi. that pei'iod. In prepai'ing those financial statements, the tISteeS are requiied to select suitable a¢¢oulltillg policies and thcn apply them eonsistelltiy. observe the methods at]d prinLiples in tlie Chai'ity SORP., make judgements and estsinates that arc reasonable and piudent. prep"£ the financial statenients on the goiiig concern basis unless it is inappropriate to presume tliat the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disLlose with reasonable iiccuracy at any time the financial position of the charitable company and to enable thein to ensure th&t the f]nancial statem¢t]Is coinply witli the Companies Act 2006. They ate also responsible for saleguardillg the assets of th¢ cliaritable company and hellce for iaking i'easonable sieps for til¢ prevention and detection of fraud and other iiTeglllarities. In so far as tlie rNstees are await.. tliere is no relevant audit information af which the charitablt company's auditors gLre Ullaware; and the tstetS have taken all steps ihat thcy ouglit to have taken to inake themselves aware of any i"elevant audit information and to establish that the auditors arc aware of that information. Page 4
Jslainic Centre of En l#nd l.td ort of the Trustees for the Year Ei Trded 31 December 2020 AUDITORS Tlie auditors. Bhalloo Consultiiig LiniiTrd resign¢d and WCSL Chartered Accountants havc been appointed instead. WCSL Ch&'tered Accountallts will be pi'oposed foi. rc-appolliiment at die forthcoming At]nual General Meeting. Report of tlie tmstees approved by ordei" ol'tl)e board of trustees, as the company directOl5, on..a..l..l.l ol.. lo .11.. Oll the boaid's behalf by.. . and signed S H Moosavi - Secretaiy Page 5
Ibrt of the Ithde endctit Auditor5 to the Member$ of Islanjic Centi'e of En land Ltd Opinion We have audited the fjnancial statements of Islamic Centre of Englai)d Ltd (the 'ch&ritablc company,) foi. the year ended 3 1 December 2020 which ¢ompri8e tlic Stateinent of Financial Activities, the Balance Sheet and ijotes lo the financial statemet]ts, including a summary of significant aecouiitSllg policies. The financial repoiting framework that has been applied in tlieii. piEparation is applicable law and Uniled Kingdom AcLuuiiling Standards (United Kingdom (yenerally Aeccpted Accounting Practiccl- In oui. opinion tt financial statements.. giv¢ a tsu¢ and fail. view of the state of the charitable company's affairs as at 31 Deceniber 2020 and of incoming resources and application of resources. including it% incoTne and eXpendIre, for tlie yeaT then ended., hav¢ been pi"operly piepared in accoi'daiice witli United Kingdom Generally Accepted Accounting Pi'actice. and have been prepared in accordance with the requirements of the Companies Act 2006. BaSLS for opinion We conducted oui. audit in accordance with International Standards on Auditing {UKI {ISAs (UK)) and applicable law. Our responsibilities undei. those standards are furtlicr described in the Auditor%' responsibilities for the audit of tlie financial statetnenls section of our report. We are independent of the charitable ¢ompany in accordance with the ethical i'equiremejits that ale relevani to our audit of the finallcial statements in the UK, including the FRC'S Eihieal Standard, and we have fulfilltd our other ethical responsibilities in accoi'dancc with these requircments. We believe that the audit evideiice we have obtsined is sufFicient and appropriate to provide a basis toi" our opinion. Conelusions rclating to going concern In auditing the financial statements, we have cot]cluded that the trustees, use of tlie going concern basis of accounting in the preparatiun of the financial staten]ents is appropriate. Based on Ihe work we liave perfonned, we have not identified any material unccrtainties ielaLsAg to events oi. conditions that, individually or ¢oll¢ctively, may cast significant doubt on the chaiitable company's ability to continue as a going concern foi" a pei.iod of at least twelve months from when the fllLancial statetnents are authorised for issue. Our responsibilities and th¢ i'esponsibilities of the trustees with respect to going concern arc described in the relevant sections of tliis report. Other inforlnation The Iruslee5 are re8pon8iblc for the other infoi'mation. The othcr inforn)ation comprises the infomiation included iii thc Annual R¢port, other than thc financial statements and our Repoit of the Independeni Auditoi'.8 thereon. Our opinion on the financial statcment% does not covei. tlic other infoTmation and. except to the extent otheiwise explicitly st&tcd in oui. ieporl, we do not express any form of assurance Conclusion diei'eoii. In Connection with oui. audit of the financial statements, our responsibility is to read the other infomiation and, in doing so, consider whether the other infomlation 18 matei'ially inconsislent with the fjnancial statements oi. our knowledge obtdined in the aiidit or othenvise appears to be materially mi8%tated. If we identify such material inconsistencies oi. apparellt material misstatements, wt required to detennine wliether this give8 rise to a 2natei.idl misstatement Ill the financial statement% themselves. If, based on the work we Ive perfornied, we coiiclude that tliere i5 a material misstatement of this othei information. we are required to Fepoi't that fact. We have nothing to report in this regard. Opinions on other matters pi'escribed by the Companies Act 2006 In our opinion, bascd on tlie woi'k underiaken in the course of the audit.. the informatioii given in tl)e R¢port of the TStee5 for th¢ finaneial year for which the financial statetnent5 are prepared is consistent witli the financial statemellts. and tlie Repoit of the Trnsiees has been prepared in accordance witli applicable legal I'equirements. Page 6
ort of the Inde endent Auditors to the Men]bers of Islamic C.'enti-e of En land Ltd Matters on which Ive are reqllired to report by exception In the lighi of the knowledge and under%tanding of thc charitable company and its environment obtained in the course of the audit. we have not identified material misstatemcnt8 in the Report of thc Tiustcc%. We have nothing to report in respect of the followillg matters wliere the Companies Att 2006 requires us lo report to you if. in oui. opinion.. adequate accounting recoi'ds have notbeen kept or returns adequate for our audit havc not bcen received from brdnches not visited by us,. oi. the financial statements aye not in agreement with the aceounting rccor(L8 and rethrns,. oi. certain disclosures of trustecs, remuneration specified by law arc not madc,. or we have not received all tlie inforniation and explanations we require for nur audit. ResponsTbilitie$ of trustees As explained more fully iii the Statement of Trustees, Responsibilities, the trnstees (who are al80 thc dircctoi's of the charitable coiknpany for the purposes of company lawl are responsible foi. the i?reparation of thc financial statenients and for being satisfied that they give a tnLe and fair view, aiid for such intemal control as the ti'ustees determine is necessary to enablc thc prcpai'atloll of fjnancial statements that are free fiDm matcrial miSSÈatement, whether due to fraud or error. In pi'eparing the finat]cial statemellts, the tllk5tee5 are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, applicable, mattel's IElated to going coiicein and using the going concern basis of accounting unless the trustees either intend to Iiqu2date tlie charitable compuny or to cease operations, or have no realistic altemative but to do so. Our responsibilitie5 for the audit of the finaneial statcments We have been appointcd as auditors ut]der sectiOlI 144 of tile Charities Act 2011 and report in accordance with regulations made und¢r section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstateinenl, whether due to fiaiid or erir, and to issue a Report of the Independent Auditors that includes our opinion. R¢asonable assurance is a high level of assurancc but is not a guaraiitee tliat an audit conducted in accordance witli ISA'S {UK) will always dete¢t a material misstatement wlien it exists. Misstatcments can ai.ise fi.om fi.aud or en.or and are considei'ed material if, individually or in the aggregatr, they could reasonably bc expected to influence the economic decisions of usei"s taken on the basis of these financial ststem¢nts. A fuiiher deseription of olli. i'csponsibilities foi. the audit ofthe financial stateinents is located on the Financial Reporttng Council's website at www.frc.org.uklauditorsrcsponsibilities. Thi% description foiins pait of our Report of the Independent Auditors. Use of our report Thi5 1"eport is made solely to the charitable company's membei'5, as a body, in accordante with Chaptei. 3 of Part 16 of the Companies Act 2006. Our audit work has been uiidcrtakcn so that we might state to the chaiitable company's inembei"b thobe malters we are required to state to them in an auditors, i'epart and for no other purpose. To the fullest extent peLinitted by law, we do not accept or assume responsibility to anyone other than the chsritablc company and the charitable company's members as a body, for our audit work, for this repoit, or for the opinions we have fomed. Khalid Rana I eiiior Statutory Auditor) foi. and on belialf of WCSL Cliarteied Accountants 5 Wicland Road Noithwood Middx HA6 3RD Date.. 1$1 October 2021 Page 7
Islamic Centre of En land I,td Statement of fiinancial Activities for the Year Ended 31 Deeember 2020 31.12.20 'otal fuiids 31.12.9 Total funds Unrestricted fiind Resti'icted fund Noles INCOME AND ENDOWMENTS FROM Donatiot]s and legacies 484,965 484,965 420.699 ChAritable aetivitics Other activity 24,816 24,816 156.102 Oiher ti?ding activities Investment and ot]iei income 6.202 109,483 6,2n2 109 483 6,785 55 TotAI 625,466 625,406 583,641 F.XPENDITURE ON Raising funds Raisiiig donations 112 112 485 112 J12 485 Charitable activities Expenditur¢ on Lliarilable activities 563,212 563,212 686,576 Total 453,848 563,324 687,061 NET INCOMEI(F.XPENDITURE) 62,142 62,142 1103.420) RECONCILIATION OD" FUNDS Total funds brought forw2rd 4,238,458 28.683 4,267,141 4,370.561 TOTAL FUNDS CARRIED FORWARD 4 300.600 28,683 4 329.283 4267 141 Thc notc fonn part of these financial statements Page 8
Islamic Centre of En land l.td Balance Sheet 31 December 2020 31.12.20 Total funds 31.12.19 Unrestricted fund Restricted fund funds Notes FIXED ASSF.TS Taiigible assets 13 4,179,826 4,179,826 4,180,900 CURRENT ASSETS Debtors Cash at bank and in hand 14 17,326 118072 17,326 146,755 1,039 93,221 28,683 135,398 28,683 164,081 94,260 CREDII'ORS Ainounts falling due within onc yeai 15 {14.624) (14,624) 18,0191 NET CURRENT ASSETS 120 774 149,457 86,241 TOTAL ASSETS LESS CURRENT LIABII,I'IIES 4.300,600 28,683 4,329,283 4,267,141 NET ASSETS 4 300 601) 4J29,283 4,267,141 UNDS Uniestricted funds Restricted thn(Ls 16 4,300,600 4,238,458 28,683 TOTAL FUNDS 4,329,283 4,267,141 The financial statemeiits were approved by die Board of Tn]%tees and authoi'ised foi. issue on signed on its behalf b . and were S H Moosavi - ntee The notes forin pait of these finaneial stateinents Page 9
Islamie Centre of Ln land Ltd Notes to the Financial 8tatenients for the Year Ended 31 December 2020 ACCOUNTING POLICIES Basis of preparing the financigl statements The financial stateinents of the cliaritable conipany. wlii¢h is a public benefit entity under FRS 102. have beet] prcpaied in accordance with the Charsties SORP (FR8 102) 'Accounung and lieporting by Charities.. Statement of Rccomincnded Practice applicable to charities preparing thcir accounts in ac¢oi'danee with the Financial Reporting Standard applicable in the UK and Rcpublie of Ireland IFRS 102) (effective l January 2019),, Financial Reporting Standard 102 'Thc F'inancial Reporting Standard applicable in the UK and Republic of Ireland, and the Compantes Act 2006. The financtal statcinents have been preparcd under the historical cost cot]vention. Financial reporting standard 102 - reduced di5tlosure e%emptions Thc charitable company lias taken advantag¢ of tlie following disclosui'e exetnptions in preparing these financial statcmcnts, as pcrmitted by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of li'el&nd': the requireineDts of Section 7 Statement of Cash Flows. Income All income is recognised in the Statement of Financial Activitie5 once the charity has entitlement to the funds, it is probable that the income will be reeetved and the amount can be measured ieliably. Expenditure Liabilities are reeognised as expenditure as soon as there is a legal or constructive oblRgation committing the charity to that exp¢nd1tte, it is probabl¢ that a transfer of economic bet]efits will be rcquircd in settlemenl and tlie amount of the obligation can bc measured reliably. Expendittlre is accounted for on an accruals basis and lias been classifi¢d under headings tliat aggregatc all cosl relaled to tlie catcgory. Wliei'e cosls cannoi be dErectly atti'ibuted to pariicular headings they l)ave been allocated to activities on a basis COllSiStent witl) the us¢ of resources. TAngible fi¥ed assets Depreciation provided at the following annual rates in ol'der to write off each asset over its esiimated use[ life. Freehold property Plant and machinery Fixwres and fittings Motoi. vehicles 2 /0 on cost 15 /0 on redueing balance 15 /0 on reducing balance 25 % on reducing balance Taxation The charity is exempt fi.om corpoi'atioll tax on its Charitable activities. Fund Accounting Uiirebtticted funds can be used in a¢¢ordance with the chariiable objectives at the discretion of the trustees. Rcstricted funds Can only be used for paiticular restricted purposes witliin tlie objects of the Ch'ItY. Restri¢iions arisc when specified by the donoi. or when funds are raised foi. particular restricted purposes. Fllrtlier explanation of the namre and purpose of each fund is included in the notes to th¢ financial 5tateinents. Foreign currenetes Asseis and liabilities in foreign cujrtncies are translated into sterling at the rates of exchange ling at the balancc sheet date. Transa¢tion% in foi'eign currenci&% al'e translated into stcrling at the rate of exchange ling at the date of transaction. Exchange differences are taken into account in an"iving at the opei?ting result. Page 10 contiiiued...
Sslamic Centre of En land Ltd Notes to the Financial Statements c(Jntinued for tlje Year Ended 31 December 2020 ACCOUNTING POLICIES - continued Penslon costs and other post-rctirement benefIt5 The charilable company operates a defined conti'ibution pension s¢heine. Contributions payable to the charitable company's pension sclieme are chargcd to tlie Stalement ofTrinancial Activities in the p¢riod to which they relate. Going coneern During tlie year thc ci)mpany has sustained Net Income of £62k {2019.. £IOlk net expenditure) and its Nct Current Assets were £149k12019.. £86k). The dsrectors I trustces have llY consideied the iinpact of COVID- I g and they arc confident in their assessment that thcic is no material uncertainty i'elatcd to going ¢oncern. The directors I trustees furihti. cllvisage that thc donations fi.om the public I worsl)ippei's will adequately suppoit tlie Chariry. DONATIONS AIYD LEGACIES 31.12.20 31.12.19 Donations 484 965 420,699 OTHER'fRAD1Tr4G ACTIVITIES 31.12.20 31.12.19 Profit from sale of books 6,202 6,785 INVESTMENT AND OTHER INCOME 31.12.20 31.12.19 Deposit account interest coronavilS Job Retention Scheme Grant 55 109476 109,483 55 INCOMF. FROM CIL4RITABLL ACTIVITIES 31.12.20 31.12.19 Activity ReLeipt fi'om conduct of marriages and divorces Othei. income Other activEIy Other activity 12,208 12,068 18,442 137.660 24,816 156 102 Pagell LontinLied...
Islamic Centre of En l#nd Ltd Tr4otes to the Financial Statements continued for the Ye2r Ended 31 Deeember 2020 LUISING DONATIONS 31.12.20 31.12.19 Advertising 112 485 CHARITABLE ACTIVITIES COSTS Suppoi"t COSts {see notc 81 ExpendiMI'e on charitable activities 563,212 SUPPORT COSTS Other chaTltable activities Support costs Guvemance costs Totals Expenditurc on chatitable activities 132,S52 404,779 25,881 563,212 Support costs, included in the above, are as follows.. Other chsritable activities 31.12.20 Expenditui'e on cliaiitable activities 31,12.19 Total activities Donation to othei.. Religious activitie5 Welfare activittes Accotnmodation 72,200 50,152 3,569 68,105 68,974 7,757 5,082 132.552 149 918 Pagc 12 continued...
Islamic Centre of En lund Ltd Notes to the Finanti#l St#tcments- ¢ontinued foy the Year Ended 31 Deeember 2020 SUPPORT COS'I'S- continued Support Costs 31.12.20 Expenditui'e on cliaritable activities 31.12.19 Total activities Wages Social security Pensions Ratcs and water 262,854 13,391 3,573 8,680 3(10,916 17,448 4,897 4,632 L Ij Tn%urance Light and heat Telephot]c Postage at]d stationery Motoi'ltravcl costs Cleaning Repairs and maintenance Other fjnance costs Foreign exchange Igain)1108S Depreciation of tangible fixed assets 13,548 28,025 14,424 6,S79 12.722 3.714 10,439 1,689 13,912 27,2S5 17,371 14,296 9,668 7,136 65?63 2.078 (5,1631 24,525 25,141 404 779 504,334 Governance costs 31.12.20 Expellditure on charitable a¢tivities 31.12.19 Total activities Tlljstees, salaries AuditOi"5' remuneration AccountaThcy and legal fees 3,000 7,200 3,167 6,000 23.157 25,881 32 Page 13 Colltinued...
Islamic Certtre of E laTJd Ltd Note5 tu the Financi91 %tatemeEJts continued for the Year Ended 31 December 2020 NET INCOMEI{EXPF.NDITURL) Net incoincl{expendiiurel is stated affri. Chargin(¢1.ed1tingl: 31.12.20 31.12.19 Auditors, rcmuncratiot] Deprceiation owiied assets 7,200 6,000 io. TRUSTF.ES' REMUNERATION AND BENEFITS One of the ti'ustees, was paid remuneration from employment with the Charity. S H Moosvi were remunerated for their work at charity. The legal authority undei. which payments were made was goveming documcnt of the chai'ity. The arnount of total tiustee8' remunei"&tion for the year was £30,000 (2019.. £30,000). The amount of pension contributions paid on behalf of trnstees was £714 {2019". £6761. Trustees, expenses Thcre were no iTUStees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ii. SI'AFF COSTS 31.12.20 31.12.19 Wages and salaries Social security costs Other pension costs 265,854 13,391 3,573 304.083 17.448 282,818 326,428 The average monthly nu]nber of employees during the year was as follows.. 31.12.20 31.12.19 Management Admsnistration 18 18 20 20 No employees receEved emoluments in excess of £60.000. Page 14 coiitinued..
Islamic Centre r En laiid Ltd Noteb to the Financial Statement5 continued for the Year Ended 31 December 2020 12. COMPARATIVES FOR I'FIL SI'ATEMENT OF FINANCIAL ACTIVITIES Unrtstiicted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 420,699 420,699 Ch8rit&ble aetiviÉies Other activity 71,336 84,766 156,102 Other trading activities Investment income 6,785 55 6,785 55 Total 498,875 84,766 583,641 EXPLNDITURE ON Raising funds Raissng donations 485 485 485 485 Charitable activities Expenditure on cliai'itsble activities 630,493 56,083 686,576 Total 630,978 56,083 687,061 NET INCOMF,I(EXPENDITURE) 1132,1031 28,683 (103,420) RECONCILIATION OF FUNDS Total fund5 brouRht forward As pi'cviously repoited Prior year adjusttnent 4,162,691 207 870 4,162,691 207.870 As restgted 4,370,561 4,370,561 TOTAL fuNDS CARRIED FORWARD 4 238,458 28,683 4,267,141 Page 15 contsnued...
1512niic Centre of En land I,td Notes to the fiinanci#l Statements- Cantinued ror the Year Elided 31 December 2020 13. TANGIBI.b FIXED ASSETS Fixtures and fittings Frethold property Planl and machinery Molor vehicles Totals COST At l January 2020 AddtionS 4,135,511 61,333 18,949 493,999 107,380 4,798,223 24,06¥ At 31 December 2020 4,135 511 80,282 499,118 J (b7,380 4,822 291 DEPRECIATION At l Janudry 2020 Chai'ge for year 46.970 23,098 8,578 449,54S 97,710 2,418 617,323 At 31 Decetnber 2020 S3,680 456 981 100 128 NET BOOK VAI.UE At 31 Deceiknber 2020 4081831 48,606 42,137 7,252 4,J79,826 At 31 December 2019 4,088,541 38,235 44,454 4,180,900 The fail. value lias not b¢¢n used for fieeliold pi'operty as trnstees consicter li would bc an extra expense for tlie charity to obtain tlie valuation of the frteliold property. In ihe opinion of tjustees the fair valLi¢ of Ii'eehold propci'ty is in excess of £6m but no adjustsnents have been made in the balance sheet. 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 31 12.19 Other dcbtors Pi'epaymcnts accmed in¢orne 1,039 17 1,039 Pagc 16 ¢ontiDued...
Islamic Centre of En land Ltd Notes to the Trinancial Statements- coDtinued for the Year Ended 31 December 2020 15. CRLDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 31.12.19 Social secutity and other taxes Pension fund Other creditors Accrned exp¢nses 4,637 982 2,024 12,600 2.400 8,019 16. MOVEMEwf IN FUNDS Net movement in funds At 31112120 At 111/20 UnrestrÉcted funds General fund 4,238,458 62,142 4.300,600 Restricted funds ResEri¢ted 28,683 28.683 TOTAL FUNDS 4 267,141 4,329,283 Net movement in funds, it]¢luded in the above are as follows.. Incoming resources Re50ur¢es expended Movcment in funds Unrestricted funds General fuiid 625.466 (563?24) 62,142 Restricted fund5 Restricted TOTAL FUE¥DS 625,466 (563,3241 62,142 Page17 contiiiued..
Islamic Centre ol Ln land Ltd Notes to the fiinaneial Stat¢nients- continued for Élje Year Elided 31 December 2020 16. MOVF.MENT IN FUNDS - CODtinlled Compary&tives for llkovement in funds Prior Net movement in funds At 31112119 At 111119 adjustment Unrestrlcted funds Gcneral fund 4,162,691 207,870 (132.103) 4,238,458 Restricted funds Restricted 28,683 28,683 TOTAL FUNDS 4 162.691 207 870 103,420) 4 267.141 Compai"ative net movement in funds. included in the above are as follows.. Incoming I'esources Resources expended Movement in funds Unrestrieted funds Genei'al fiit]d 498,875 {630.9781 (132,1031 Restrtcted funds Restricted 84,766 {56,083) 28,683 TOTAL FUNDS 583641 687,0611 103,4201 A cutrent year 12 months and prior year 12 months combined position is as follows.. Prior year adjustment Net movement n funds At 31112120 At 111119 Unrestricted funds General fund 4,162,691 207,870 {69,961) 4,300,600 Restricted funds Rcstricted 28,683 28,683 TOTAI, FUNDS 4,162,691 207,870 412781 4.329,283 Page 18 coiitinued...
Islamic Centre uf Li land Ltd Notes to the Trinaneial Statements continued for the Year Elided 31 Deeembci. 2020 16. MOVF.MkNT IN FUh'DS- continued A current year 12 montiis and prior year 12 tnonths combined nel movement in nds, inCded in the above are as follows.. Incoming resources Resources expended Movement in funds Unrtstrlcted funds General fvnd ,124.341 (1,194,302) 169,961) Restrieted funds Rcstricted 84,766 (56,0831 28,683 TOTAI, FUNDS 1209,107 {1250 385) 41,278) 17. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2020. 18. RESTRICTF.D FUNDS Restricted fund of £28,683 Ca1¢d forward to be used towards futuTe major refurbishments. Page 19