REGISTERED COMPANY NUMBER: 03142456 (England and Waley) RECISTERED CHARrtY NUMBER. 1058998 ort of the Trnstees and Financial Statemtnts for the Year Ended 31 Deeember 2024 for Islamlc Centre of land Ltd
151ami¢ C ntre of En Ltd Contents of the Financi41 Ststements for the Year ed 31 December 2024 Page Report of the Trustees Report of the Independent Audltors Statement of FAllancial Adivltles 10 Balance Sheet 11 Notss to the Fillancial Stat¢m¢nts 12 to 19 Detalled Statement of Finan¢lal Activitie5 (Not part of the ststutory finAncial statements) 20 to 21 Page 2
18laml¢ Centre of E land Ltd ort of the Trustees for the Yesr Ended 31 December 2024 The trustees who are also dir¢¢tors of th¢ charity for the purpos¢s of the Companies Act 2006, present their report with the financial statem¢nts of th¢ Charity for th¢ yGqr elld 31 December 2024. The tntee8 have adopted the provisions ofAccounting and Reporting by Clkarities: Stst¢ment of R¢¢on]mended Prnctice applicable to charities preparing their accounts in accord8nce with the Financial R4)orting Stalla applicable in the UK and Republic of Ireland ff RS 102). oBJEIVEs AND ACTIVITIES Obje¢tlves and airns The company is a registered charity With th¢ object of advancing the r¢ligion of Islam and education. and the provi$ion of social and religious welfare activities. tn planning the charitys activities and working towards achi18 the chaTity'8 objectives, the tte¢S have considered the Charity Commission's guidance on public benefit. Slgnificant acllvldes Th¢ ¢kwity has only Unrestricted fimd; The unrestricted fwLd is used to llge day -to4lay unrestrirted costs, and for the PUTposes of meeting the objectives of Islamic Centre of England Ltd. During the year. the fid was utilised for the following activities: Promotion of rellglous ITh aecordance with the islgmie falth This vrns the main activity of the clwity, and it wag a8Tried out by the publication of brochures. pamphlets and the production of films and videos to bmadcast on social media. The Centre also arranged weekly religious progr in multiple languages. Madrasa classes were also held to teach Islatnic Studies to the Community members. Culthral and rel1gli5 support During the year, the charity SUPPOrted the islamic ethos by providing daily prayws, islami¢ education ¢lasses and religio guidance. SociaL religlous and wellare activities During the year, the cbarity organised various activities in ¢tl¢bration of Islamic and cultural events such as Ratnath and Mulwram. Providing family setviccs in¢lu<bng civil and Islamic L]wriages, divorce and Islamic counselling sessions. Other *ctivltles Other activitieg were organised and held by the charity during the year including the interfaith forums, the Quranic reading and memorising competitions. Future developments The charitywill continue to focus on promotingthe religionof Islam and education, and theprovision ofsocial andreligious facilities. The charlty continues with the efforts to tnodernisc the mosque, and to carry out repairs and n]aintene to the building. During th¢ year, the trustees continued to strfflgthen the charity's governall to ensure it renyains effective, accountable and resilient. The Board undertook a review of its stru¢tLires and practices against recognised good govemance 8tandattts and Iw intr(Mluced improvements to eDhatsee transparew 2nd decision making. Key developments included updating key tK)lici&s and proc¢dutea, strengthening risk manwent processeg, ensuring comp]i8nce with regulatory requircments. The trustees also invested in training to support their understanding of legal duties, safeguarding, financial ov¢rsight. Stq)s wcr¢ taken to improvc diversity and succession planning within the Bo8rf recognising thc importance of bringing a broad rang¢ of perspectives and skills to our decisioTh making. The trustees remain comn]itted to ongoing governance development, ensuring that the charity is well-equipped to deliver its mission, make efftctive us¢ of re60urces, and nAll1n the confid¢llG¢ of beneficiari. wpporters and regulatOTS. li The charity in futur¢ will be ablc to m¢¢t the Charity Commission's requirement regarding its 8overnance. To fulfd this objective, th¢ truStS, with the cooperation and assistance of the Interim Manager, have focused on developing key policies and strengthening governance Arrangements. After the itnplementation of Section 84 of the Charities Act 2011. and the discharging of the JAteritn Manager, tnteeS together with the charity's legal team, are continuing to develop a wide rang¢ of operations and procedures which will take into full consideration of the r¢quirements of the Ckwity Commission Guid¢lines and Otd¢rs. Page 3
151aml Centr¢ of En nd Ltd ort of the Trnstees for the Yeat Ended 31 Decemb r 2024 Flnancial position Th¢ Statcm¢nt of Financial Activitkes shows how the charitys funds have been applied during the year. Th¢ gross rettipts of the organisation were £634,661 {2023: £472,841) of which £83,579 (2023: £72,526) w&s raiscd int¢nMlly from tb¢ sale of books, the hir¢ of th¢ Conference hall, feeg chged in connection with the conduct of matriag¢s. other religious activities atsd insurattce claim. Donations directly related to the wincipal actIvAti amounted to £551,082 (2023: £400,306). At 31 December 2024. unrestricted funds w¢r¢ £4,095.946 (2023: £4,020,889). As the charity's income is depelldt UFon thc goodwill of fellow worshippers. the manyg trustees ar¢ of the opinion that the level of direct activities should be proportionat¢ to such income. The tnistees ¢onsidw the CUTr¢nt year net income of £75,057 (2023: net expenditure £141.501) as exi)ected. WhAl¢ income was reduced in the prior year due to a CIMrity Con]mis%ion Statutory investigation, th¢ ¢haTity has Sill recovered li li strongly. With the trustee's and management Increas efforts leading to highcr donations, th¢ charity is w¢ll placed to rneet itg obligations and continue delivering its (*Jje¢tiv. Thc trustees arc confident that this positive tr¢nd will continue in the future. On 19 May 2022 the fair value ofthe freehold propcrty on a rebuild cost assessm¢nt basis Carried out by Rebuild Cost assessrnent Limited. Based on the assessment the tn8 consider that the fair value of the freehold property is in excess of £15m. No adjustments have been made in the balance sheet. Under Section 18 of the Charity Act 1993, Ms Emma Moody was appointed an interim managff on 6 June 2023 to take responsibility for rtvlcwing the Chwity's polices in relation to speakerg and events. STRUCTURE, COVERNANCE AI¥D14AANAGETrIENT Goverrting do¢llment The charity is controlled by its governing document, articles of association, and constitutes a limited company, limited by guarante4 as defmedby the Companies Act 2006. During the year, with the interim nger'S cooperation and &sSiSLc the charity and its trustees have rnana8¢d to addrws the requirements of compliance to th¢ Charity Governance Code. They hav¢ managed to produce polx¢ies and procedures which have helped the truste<s in adopting thos¢ principles in th¢ir day-to-day activities, roles and improving the responsibility of managing the centr¢. The charity is not illvolved in public fimd raising events. Recruftrnent and appohntment of new trusteos The tnteeS nyay appoint ITUStees to their Board OrganisAtional structure The tmstees of Islamic Centre of England Ltd are its dxr¢ctors. Thc trustees are rwonsible for the overall managanent and controL of thc cl]arity and tneet regularly to manage its affairs. Stsff resources aTe divida into r¢ligious and clerics, education and promotion of Islatt¥ fimdra1sl fllvance and administralion. Induction alld training of new trustee8 New trustees receive an induction early on in their tenure, thus ensuring their fuLI understanding of the organiyation, its operations, its staff and its ethos and values. The Induction PTocess sets out briefi to new tTUStees, what is expected of truste£s by the charity, th¢ law and the Clwity Conllni&8ion. New tn)stees al80 recekve regular updates at briefings on the above matters frorn senior trustees and staff members. Page 4
Islamlc entre of En land Lt Re ort of the Trustees for the Year Ended 31 December 2024 Ileserves poliey Accumulated funds comprise the aumulated surplus or deficit on the stat¢m¢nt of fijrdncial artivities whidl are avllilable for use at the discretion ofthc tru6tees of Islamic C¢ntr¢ in furtherJnc¢ of the objwtives of the charity. The fimds as at 31 December 2024 were £4,095.946 (2022: £4,020,889). Related parties Th¢ charity hold8 a freehold property in trnst for Jafariyah Commwiity Centre Stoke-on-TTent {JCC). JCC is a Tcgist¢red clwity in the UK with r¢gistration number 1164440. The property is fully maintaine(L and all expenses related to the chaTity'S assets are bom¢ by JCC itself. Other matters The tntstees. in collaboration vn'th the interim manager, LY)nfwm that th¢ Gharity's frechold prop¢rti¢s, assets, and public liability insrnce cover are now in place. STRUCTURE, GOVERNANCE Af4D WAGEMENT Rlsk management Th¢ ttiistees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide r&gsonable &8surance agaitist fraud and error. The matM8ing trnstees have examined the major strategic, bsinesS and operational risks which th¢ organizatkon fac¢5 and wnfirn that systems have been established to enable regular report5 to b¢ pro(luGed so that n¢cessary stcps call be tak¢n to le&s¢ll th¢8e risks. The tteeS have identified that the main risk for th¢ charity is that of finan¢ial sustaiwdbility. Th¢ regularly review the availability of liquid fimds. OnE with aGLively managing th¢ charity's working capital to ensure this risk is mitiimised, Non-financial risks arising from the welfare activiti&s and reLigiou8 a¢tiviti¢s the charity engages in have al80 been considered. The consist of health and safety risks, food hygiffle risks, and fire risks that are related to the perfornLqnce of the charity's activities. Througbout th¢ year, the ¢harAty hJs developed Polici and updthd other &gperts of safety. security and welfare of the audience and staff of th¢ charity. Furth¢miore, a Risk Matvagement Register has been developed to examine potential risk perts] to the clwity. A standard statement has also been produced to address risks considering the widwread security for chaTity's activiti. The statethent is circulated both, to the parties making enquiries about the cbarity's wcbsite. REFERENCE AND ADMtNISTIL4TIVE DALs Register] Company number 03142456 (England and Wales) Ilegistered ChArlty number 1058998 Reglstered offi¢¢ 140 Maida Val¢ London W9 IQB Trust Mr M A Hussain MrJANajm DrSTHZWasti Mrs M Amjad (appointed eh N0Venth 2024) Mr H P Yazdi (aprK)inted 6th Novctllber 2024) Ms Emma Moody - intcrim nLqnager (According to the Ch&ity Con]mission notifica110 Ms Emma Moody been discharged from her duti&s as Interim Manager. The related filing at thc Companies House to refiect this changt has tt yet been completed) Pag¢ 5
Islamic Centre of En land Ltd Re ort of the Trnsttts for the Ytar Ended 31 December 2024 Company Secretary M A Hussain Auditors WCSL Chartered Accounknts 5 Wieland Road Northwood Middx HA6 3RD STATEP&ENT OF TRUSTEESI BESPONSIBILITIES Th¢ trtL8tees (who are also the directors of Islami¢ Centre of Englarnd Ltd for the pullx of MpanY law) are responsible for preparing the Report of the TTUSte¢s and the financial statements in accordance with applicable law and United Kingdom Accounting StandaTd$ (United Kingdom Generally A¢cepted Accounting Practice). Company law requires the trnstees to prepare financial statements for &qch financial year which giv¢ a and fair view of th¢ State of affairs of the charitable company and of the incoming resources and application of resource& including the inwm¢ and expenditure, of the charitable company for that perio(L tn prcparing thosc financial statem¢nt4 th¢ tnLStees r¢quired to select suitable accounting policies and thcn apply them corASiSt¢ndyJ obseryc thc methods and prinGipl¢s in th¢ Charity SORP. n]ak¢ judg¢ments and ¢stinwtes tIMt re8sonable and pent. prq)are the financial statements on th¢ going concem basis unless it is inappropriate to Prrne tIMt the charitable company will continu¢ in business. The trustees are responsibl¢ for keeping proper accounting records which disclose with reasonable accuracy at any time the financial positiotk of the charitable company and to enable them to ensure that the financial staternents comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable stsps for th¢ prevention and detectlon of fraud and other irregulatities. In so far as the trSteeS arc aware: thue is no relevant audit infomation of which the charitable ci)mpan)4s auditors are unaware. and the tNstees have taken all steps that they ought to have tak¢n to make thentselv¢8 aware of atty relevant audit inforniation and to establish that th¢ auditors are aware of that infom]ation. Th¢ trustees (who are also the directOTS of Islwnic Centre of Fngland Ltd for the purÈ)oses of (x)mpany law) are responsible for preparing the Report of th¢ Trugtees and the fihancial statements in a¢cordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the tnistees to prepare financial statemcnts for each financial year which giv¢ a true and fair viwi of the state of affairs of the clwitable company and of the incoming resources and application of resources, in¢luding the Anmm¢ and expenditure. of the charitable cornpany for that period. Jn preparing those financial statements, thc trust¢¢s are required to - select suitablc a¢UntIng policies and then apply them consist¢ntly' - observe the methods and principles in the Charity SORP; - make judg¢ments and &stimat¢s that are reasonabl¢ and pru(lent; - Prepar¢ thc fillan¢ial statements on -Ihe going concern basis unle88 it LB inappropriafr to presume tIHt the ch&itable company will continue in business. The lrnstees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are aLso resw)nsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 6
In so far as the trustees are aware: - there is no levaTht audit inforniation of whi¢h the charitsblc company's auditors are unaware; and - the trustee8 have takcTh all st£ps that they ought to h.ave taken to make themselves &Mrare of any relevant audit infomiation and to ¢stablish that the auditors are awa of that infonnatson. AUDITORS The auditors WCSL Chartered Accountsnt5 will be proposed for Te-appointment at the fortbcoming Annual General Meeting. Report ofthe trustces approvedby order ofthe board oftrustee4 as the company directors, on2610912025 andsigned on the board's b¢half by: M A Hussain - Se¢retary Pag¢ 7
Re ort of the Jnd Islami endent Audltors to the Memb¢rs of Centre and Ltd OpAnion W¢ have audit¢d th¢ fiLWAcial statements of Islamic Centre of England Ltd (the 'charitable company) for the year ¢nded 31 Demb¢r 2024 which compris¢ the Ststement of Financial Activities, the Balance Shect and not¢s to the financial Statements. in¢luding a summary of significant accounting policies. The financial reporting framework t]t INS been applied in th¢ir pr¢paration is applicable law and Utiited Kingdom Accounting Standards, including Financial Rq)orting Standard 102 'Th¢ Financial Reportin8 Standard applicable in the UK and Ilepublic of Ireland. (Utiited Kingdom Ge[allY Acccpted AccountAng Ptactic¢). In our opinion the financial statements: give a tsue and fair view of the state of the charitable company's affaira as at 31 Demnber 2024 and of its in¢oming resources and application of Tesources, including its income and expenditur¢. for the y¢ar then ¢nd¢(L" have been prOplY prcpared in accordance with Ullit¢d King(lom Generally Acceptsd Accounting Practiw and have been prq)arcd in accordanc¢ with th¢ requiraD¢ttts of the Companies Act 2006. Basis for oplnion We condu¢ted our audit in accordance with thterttatiOn Standards on Auditing (UK) (ISAS (UK)) and appli¢abl¢ law. Our r¢sponsibilities un(ler those stslldard8 are further described in the Auditors, ponsIbIlItieS for th¢ audit of th¢ financial statements section of our rqjort. We are independent of the ¢haritsble company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK including the FRC'S Ethic Standw& and w¢ have fillfilled our otheT ethical responsibilities in accordance with these requirements. We believe that the audit evidenc¢ we have obtsined is sufficient and appropriate to provide a basis for our opinio Conclusions reladng to golng concern In auditing th¢ financial statements, w¢ have wncluded that the trustees, use of the going concern b&qis of aecounting in the li pParatIO of the financial statements is appropriats. B&q¢d on the work we hav¢ perfornieLI we have txot identified any matla1 uncertainties relating to events or conditions that, individually or wll¢ctively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from vthen the financial statements are authorised for issue. Our responsibilities and the responsibilitieg of the trSteeS with respect to going concern are described in th¢ relevant sections of this Other information The trustees ar¢ responsible for the other information. The oth¢r inforniation con]prises tbe inforn]atioa included in ttLe Annual Rort, other tl]an the financial Statements aud our Report of the Ind¢p¢ndent Auditors thereon. Our opiniotk on the financial statements does not cover the other inforniation an(L except to the extent otherwise explicitly stated in our reporL we do not ¢xpress any fomi of assurattce ¢onclusion thereon. In conThe¢tioll with our audit of th¢ fitrancial statements, our responsibility is to read the otl]er inforniation aTh(L in doing so, consid¢r whether the other inforniation is materially illconsistent with the fllHicial statements, or our knowl¢dg¢ obtained in the audit or otherwise app&qTg to be materially misstated. tf we identify such material incon8iSt¢nci¢s or appaT¢nt material misstatements, w¢ ar¢ required to deterniine whether this gives rise to a matcrial misstatcm¢nt in the financkal statements thonselves. I£ based on the work we have perfonncd, w¢ conclude that there is a material misstat¢ment of this other informall0 w¢ are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters presLYibed by the Companles Act 2006 In our opinion, bas¢d on the work und¢rtaken in the course of the audit: the Infon]tion glven in the Rcport of the TrteeS for the financial year for which the financial statements are prepared is consistent with the fiDan¢ial statement4 and the Report of the Trugtees has Ien prepared in accordance with applicable legal requirements. Page 8
ende mle Centre of En othemem lattd Ltd of Matters on whieh we Are required to report by excopdon In th¢ light of the knowledge and understanding of thc Gharitabl¢ company and its ¢nvironm¢nt obtsind in the Gourso of th¢ audi& w¢ have not identified m8t¢riaL rnisstat¢meAts in the Report of the Trustees. W¢ hav¢ nothing to report in r¢spect of the following matters where the Coinpanics A¢t 2006 requirc3 US to report to you 1£ in our opinion:
d4uaÉe a¢ntIng records hav¢ not been kept or returns 8d¢quate for our audit hav¢ not been re¢eived from branches not visited
by us; or the financial statements are not in agreement with the accounting ree()rds and rethrns; or Gertain disclosures of trustees, remun¢Tation splfied by law arc not made; or we havc not rcGciv¢d all the infonnation and ¢xplAllations w¢ r¢quir¢ for our audit. Respon51bllitles of trmstee As explained more fully in the St&tstnent of Trust¢es' Respollsil>iliÉies, the trustee5 (WI are also th¢ dirwtors of the charitable Company for the puwgS¢s of cotnpany law) are r¢sw)nsible for the preparation of the financial statsments and for being satisfied that they give a true and fair view. and for such internal control as the trustees deterniin¢ is necessary to enabk the pr¢paration of financial statements that are free from mat¢rial misstatemenL wh¢ther due to fraud or ¢rror. In prepariJ8 the fllwicial Statemen the ttwtees are responsible for aBseggins the charitable company's ability to continue 89 a going eoThcern, disclD#ing. ag appIlble, matters related to goin8 concern and usingthe going concern basis of accounting unless the tsuste either intelld to liquidate the charitable company or to cease operations. or have no realistio alternative but Éo do so. Our responsibiliti for the Rudlt of the financial statements We have been appointed fis auditors under se¢tion 144 of the Chariti¢s Aot 2011 and report in accordan¢¢ with rcgulaÈitstss under section 154 of that A¢t. Our objeetives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misgtatemenL whether due to fraud or error. and to issue aReDOrt of the Independent Auditors that includes our opinion. Rcasonablc a8suranc¢ is a high l¢v¢l of assurance but is not a guarant¢¢ that an audit conduct¢d in a¢coTdan¢e with XSA'$ (UK) will always d¢t¢Gt a m4¢¢rial Misstatllent when it exists. Misstatements arise from fraud QT ¢rror and 4Te considered material if, individually or in the aggre8at4 they could reasonÉthly be expected to infiuence the econOthi¢ dls1ong of ugerg taken on the bagis of these finwial stat¢mettl& A further description of our r¢sponsibiliti¢s for the audit of the financial statements is loGat¢d on th¢ Financial Ileporting Council's website at www.frc.org.uklauditorsr¢8ponsibiliti¢s. This description forn)s part of our R¢port of the Ind¢p¢ndent Auditors. Use ofour report This report is made solely to th¢ Charitable company's members. as a body, in accordance with Chapter 3 of Part 16 ofthe Companie8 Aet 2006. Our audit work has been undertaken so that we might state to the charktable wmpany's members those matterg we are required to stale to them in an auditors, and for no other purpose. To th¢ fvllest cxt¢nt pcrniitt¢d by law. w¢ (k) not accept or assum¢ responsibility to anyon¢ otkner than the charitabl¢ wmp&ny and th¢ ¢haritsble wmpany'8 members as a body. for our audit work, for this repor( or for the opinions we have forni¢d, Id Rana (S¢n" latutory Auditor) ror and on behalf of WCSL Chartered Accouithnls 5 Wiel8nd Road Northvh)od Middx HA6 3RD Page 9
Isl "t Centre of En dLtd Statemen of Financial vlties for the YeAr Ended 31 December 2024 31.1224 31.12.23 Total fid$ UnstrICted R¢stri¢ted funds Notes INCOME ATrID ETr4DOWMENTS FROM Donations and legacies 551,082 551,082 4(K),306 Charitable a¢tlvities Other athivity 78J33 78J33 70.611 Other trading activities Investrnent and other income 5,246 5246 1.915 Totsl 634,661 634,661 472,841 EXPEiwrtURE ON Charitable actlvldes Exp¢nditure on c]witable activitics 559,604 559,604 614,342 Total 559,604 559,604 614.342 NET INCOMEI(EXPENDTTURE) 75,057 75,057 (141,501) RECONCILIATION OF FUNDS Totsl funds brought forward 4,020089 020,889 4,162,390 TOTAL FUNDS CARRIED FORWARD 4 095,946 4 020,889 The notes forni part of thcse finall¢1 statements Pag¢ 10
31.12.24 Total funds 31.12.23 Total funds Unrestrict¢d fund Restricted Notes FIXED ASSETS Tangible assets 11 4,133,695 4133,695 4,157.970 CURRENT ASSETS Ittvetttori¢s C3sh at bank and in hand 19J98 19J98 23,788 30,496 30A96 36,212 CREDrroRS Amounts falling du¢ within on¢ y¢ar 12 (46284) (46,284) (147J39) r4ET CURRENT ASSETS I (LIABILITIES) 15,78 111,32 TOTAL ASSETS LESS CURRENTLL4BILITIES 4,117,907 4,117,907 4,046,643 CREDITORS Amounts falling due after more than one year 13 (21,961) (21,961) (25,754) NET ASSETS 4,095,946 4095,946 4,020,889 FUNDS u[estrICted fimds 14 4,095,946 4,095946 4,020,889 TOTAL VUNDS 4,09S946 4,095946 4,020,889 The financial statements were approved by the Board of Tnkstees and authoris¢d fi)r issue on 2610912025 and were Sign on its behalf by: M A Hussain - Trnstee Page 11
Islamic entre of En an Ltd Notes th the Flllancial Statsments for the Year Ended 31 December 2024 ACCOUPITING POLICIES Basi5 of preparing the fittaDCi21 stAtements The financial ststeittettts of the chatitable company. which is a public benefit entity under FRS 102. have been prepared in accordanee with the fvities SORP (FRS 102) 'Accounting and Reporting by Charities: Statcmcnt of R¢conended Practice applicable to chariti¢8 preparing th¢ir accounts An acwrdance with the FiJw]Gial Reporting Standard applicable in the UK 2nd Republic of Ireland (FRS 102). Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and RepubliG of Ireland (FRS 102) and the Companies Act 2006. The fllHicial stat¢ments hav¢ been prepared under the historical cost ¢onvention. The functional currency of th¢ charity is consid¢red to be pounds sterling. nancial rqportlng standard 102 - reduced dtsdosure exethptfions Th¢ tharitable company h&8 taken advantage of the following disclosure exemptions in preparing these fill2ncial statements. pennitted by FRS 102 'The Finanual Reporting Standard applicable in the UK and Republic of Ireland,: the requIrents of Section 7 Statement of Cash Flows. Income AIL income is recoglliged in the Ststement of Financial Activities oncc th¢ charity h&s cntitl¢m¢nt to the funds, it is probabl¢ that the income will be received, and the amount can be measured reliably. Income relates to donations from the public and from other activities. Eipendlture Liabilities are recognised &8 expenditwe &s soon as there is a legal or constructive obligation committing the ch8rkty to that expenditu, it is probable that a transfer of economic benefits will b¢ requtted in settlement. and the amount of the obligation can be measured reliably. Expenditur¢ is accounted for on an accruals basis alld has been classified uuder headinss that aggregate all cost related to the category. WILere costs camiot be directly attTibut¢d to particular headings, they hav¢ b¢ allocated to activities on a basis consistent with the use of resources. Tangible red assets Depreciation is provided at the following annual rates In order to write off each asset over its estimated us¢ful life. FT¢ehold propety Plant and machinery Fixtures and fittings Motor vehicles 15 % on reducing balance 150/0 on reducing balance 250/0 on r¢ducing balance Taxation The clwity is exempt from CooratIon tax on its tharitable activities. Fund Aeeounting Unrestricted fidS can be used in aco)rdancc with the charitable objectivcs at the discretion of thc trust¢e8. Financial instruments The clwity i)nly has financial assets and financial liabilities of a kind that qualify as basir fillan¢ial instrLllnents. Basi financial instniments are initially r¢cognAsed as ttansartion valu¢ and Subsequently measured at their settlement value. Page 12 ¢ontinue(L..
Islami¢ Centre of En land Ltd Notes to the Flnanclal Statemellts - conllnued or the Year End l De¢¢mber 2024 Accouf4TING POLICIES - continued Penslon Costs and other post-rttirement benefits The charitable company op¢rates a defined contribution pension scheme. Contributions payable to the chaTitabl¢ company's pension schem¢ are Ghar8¢d to the Staternent of Financial Activities in the period to which they relate. Going coneern During the year the company's Net income was £75.057 (2023: £141,501- net expenditu} and its Nct Curnit Liabilitie were £15,788 (2023: £111,327- n¢t CUTTcnt liabilitics). The trust¢¢8 hav¢ considd the chaTity's ability to conlinue as a going concem. There are no matcrial unGcrtainti¢s that cast siwfi&4nt doubt on th¢ ability to continue in operation 11 li for the foresecablc future. A¢wrdingly, the accounts hav¢ b¢en prepared on a goin8 concern basis. While income was reduced in the prior year du¢ to a Cljarity ComD]ission Statutory InVtigatio the charity bas since recovered strongly. With th¢ trustee's and matlagement increased efforts leading to higha donations, th¢ Ch]ty is well placed to med its obligations and contittue delivering its obje¢tives. The trustees are confident that this positive trend will continue in th¢ future. DONATIONS Ai%TD LEGACIES 31.1224 31.12.23 Donations 551082 400 306 OTHER TRADING ACTivrfIES 31.12.24 31.12.23 Profit from sale of books 5246 1,915 INvEsTmEE AND OTHER INCOME 31.12a4 31.12.23 Deposit account interest IIYCOME FROM CHARAtsLE AcfIviTIES 31.12.24 31.12.23 Activity R¢Apt from condu¢t of marria8¢s and divor¢¢s Other income Other activity Other activity 22,575 55.758 23,814 46,797 70,611 The charity benefits greatly from the involvement 2nd enthusiastic support of its volunteers. In accordanc¢ with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognis¢d in the accounts. Page 13 Continu..
I lamic Centre of land Ltd Nots8 to the Finanelal Statements - conllnued for h YeAr Ended 31 December 2024 CHARITABLE ACTIIryTIES COSTS Support costs (see note 7) Expenditure on chatitable activiti¢8 559 604 SIJPPORT COSTS charitable activities sUprt Lvsts ¢08ts Totals Expenditure on charitable activities 418,187 130 577 559 6114 Support costs. included in the abov4 are as follows: 31.12.24 Exp¢nditure on charitable activities 31.1223 activities Other charitable a1VItIeS Religious activities Accommodation 5,591 14,261 Support costs Wages Social seruTity Pensions Rates and water 206,180 11056 SJ24 10,622 23323 67,835 6J84 8098 3914 14,546 14A34 4289 16J07 24275 262,485 14206 5,344 7,112 8,051 45,410 5,807 5,452 S,442 4,378 21,860 1,612 13,480 28,600 Light and heat Telephone Postage and stationery Motorltravel costs Cleaning Repairs and nuintenance Other finance costs rr Support and software DcpreGiation of tangible fixed assets 418 187 429 Pagc 14 ontinu¢d...
Islamic Centre fEn and Ltd Notss to the Finandal Statements - condnued for th¢ Year Ended 31 December 2024 Governance costs 31.1224 Expenditure on clwitable activities 31.12.23 Total activitiGS Trustees, salaries Auditors, remuneration Accountancy and legal fees 3,000 9,000 151,091 9.61)0 120,977 130 $77 163 091 NET ITrICOMEIffjXPENDITURE) N¢t incoM¢/(expenditL¢) is stated aft¢r ¢hargI(editlng). 31.12.24 31.12.23 Auditors, T¢muneration Depreciation - ovmed assets 9,600 24,275 9,000 TRUSTEES, REMUNEII4TION ALYD BENEFs During the year one of the trustees was paid Temun¢ration from employm-ent the charity. Mr J A Najm was remunerated for his work at the Clwity which consistrd solely of administrative duti¢s. The legal authority under which payments were mad¢ was governing documcnt of the ¢lwity. The amount of total trl¢S, Touneration and pension contributions paid fot the year were £23,550 (2023: £21,200) and £519 (2023: £449) T¢spectively. No benefit in kind v8 paid Ac¢ountan¢y and legal fees under the he3ding "Governance Costs" (note 7 above) includes £60.397 (2023: £47,05 8) relating to the amounts payabl¢ to WombLe Bond Dickinson (UK) LLP for th¢ services of Ms Emma Moody in ber capacity as an interim nager. Trustees, expenses There were no trustees, ¢xpenses paid for the yr ended 31 December 2024 nor hr the year ended 31 De¢ember 2023. Page 15 ¢ontinued...
18lamie Centre of En and Ltd Notss to the Flnan¢ial Statsmfflts- condllued for the Year Ended 31 DKember 2024 10. STAFF COSTS 31.12a4 31.12.23 Wages and salaries Social security ¢08ts Other pension c08ts 20Q180 11,856 262,485 14206 223 282,035 As a cwtornary practice, and in order ft)r Minster of Religion to carry out his dutiep), who is not a trLtste4 18 pmvid¢d with accommodation and related costs. included within Cbaritable Activities Expenditure kn the Statement of Financial Activities. The average monthly number of empkoyees during the year was as follows: 31.1224 31.12.23 Administration 12 14 No employecs e1Ved emoluments in exc¢ss of £60.000. Page 16 continued...
Islamic entre ofEn Ltd Notss ts the Finandal Statements - ¢ontlnued for the Year Ended 31 D¢¢ember 2024 11. TANGIBLE FIXED ASSETS Fixtures Freehold propety Plant and machinery Motor v¢hiGles fittings Totals COST At l January 2024 4.135,511 95326 499,298 67.510 4,797J45 At 31 December 2024 95 499 298 67 Sll) 45 DEPRECIATIOIY At l January 2024 Charge for y 73010 56,198 473,310 6710 54 98 36,257 63975 7 813 75 At 31 Decenther 2024 477 208 663 NET BOOK VALUE At 31 D¢cember 2024 4 054 991 22,090 23.440 133,695 At 31 DK¢mb¢r 2023 4061701 4,157 970 Th¢ fair value has not been used for Freehold prop¢rty. The fair value of th¢ fr¢ehold property on a r¢build cost asgessment basis carried out by Rebuild Cost Assessment Limited on 19 May 2021. Based on the assessment the trustees consider the fair value of the freebold propety is in ¢xce88 of £15m. No adjustments have been made in the balance sheeL Pagc 17 continue(L..
Islamlc ntre of En andL Notes to the Flnallcial Statements - ¢ollthiued for the Yw Ended 31 December 21124 12. CREDITOILS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Bank Loan Othcr crcdito SoGial seawity cost ArUed expenses 9,273 9.273 10,000 3,557 124 709 147 539 13. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR Bank Loan The bank loan is unsecured 14. M0VEr[l Fuf4DS Net movement in fiujds At 3111212024 At l/lll024 Unrestrlcted funds General fimd 4,020,889 75,057 4,095946 Restricted funds Restricted TOTAL FUNDS 4 020 889 75,057 Net movement ID fimds, included in the above ar¢ ag follows: Incomin8 r¢sourc&8 Resource8 ¢Ap¢Thd¢d Movement in fimds UnrestrA¢ted funds General fund 634,661 (559,604) 70,057 R¢$trl¢ted funds Restricted TOTAL FUNDS Page 18 continued...
Islamlc entre of En and Ltd Not¢$ to the Financial Statements - eontinued for the Year Ended 31 December 2024 15. RELATED PARTY DISCLOSURES There were no related party transactions for th¢ y¢ar ended 31 DeGemb¢r 2024 Dor for the year ended 31 December 2023. RESTRICTED Fuf•lDS 16. There were no rn8tricted fisnds for the year ended 31 December 2024 nor for the year ended 31 Dember 2023. Page 19