REGISTERED COMPANY NUMDER: 03273033 (England and Wales} REGISTERED CHAIUTY NUMBER: 1059085 the Tru5tee5 aDd Finaneixl Ststements for tbe Year Ended 31 M*rch 2024 ror The Muslim Cultural Herits t Centre Acom an LiEnited bTr Guarantee Stan Kelly & Co Chartered Cenified Accountants Suitc 2. Wenta Busin¢ss C¢ntre l Electric Avu¢ Enfield EN3 7XU
ie Musliiii Cullurl Heriix e Ceulre Contents of the Finneil Statements for the Yvar Ended 31 March 2024 Page Re)rt of the Trustees I to 8 Independent Examiner's Report S¢atemen¢ of Fillaneial Activi¢ies io Balance Sheet 11 to 12 Cash Flow Ststem¢Dt 13 Nots$ to the Cash Flow StatenJen 14 Notes to the Fin4ncial Sta¢emtttl$ 15 21 Detailed Statement of Financial Activities 22 to 23
Tlie Musliill culiu1 Hetiia r Ctti( rt of the Trustees forthe Year Ended 31 Mareh 2024 The trustees who are also directors of the charity for the purposes of the Companies Aci 2006. present their rep)rt with the ljnancial ststements of the charity for the year ended jl March 2V24. Ihe trustees have adopled the provisions of Accounting and Reporting by Charities.. Statemeni of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R¢public of Ir¢land (FRS 102) (effective l January 2019). OBJEcfIvES AND AcfiviTIES Objectives and aims Th¢ purpos¢s of th¢ charity as set out in its govemtng do¢um¢nt are: (a) To provtde a benefit to the public in North KensiTtgton. particularly those in the area who are Muslim and seek to alleviat¢ the cirGumstanc¢s of th05¢ in need but also v¢ry much an open-door resource for the wider community. {b} To advance education Arabic and other subjects" (c) To provide the Muslim and wider c<)mmullity with a focal point for a range of Spirial, S4xial, lIUravarts. OnOMic, educational and training activities. (d) To enable the Community io develop greater self-confidence through a sense of belonging and to rduce isolation and fear; and (e) To Teach out and act as resource for the community, the third (voluntary) sector. statutory agencies and the wider mmunity. Page I
TIA¢ Muslim culrA1 Hcrita t Ccntr¢ rt of the Trustees for the Year Ellded 31 March 2024 OBJEcfIvES AND AcrivrriES Si¥uifJLaiJl xllivili The main activities undertaken in relation those PUTwses during the year were". Masjid: Daily. Friday. Eid and Jana72 Prayers. Ramadan progrdmme: Talks and Seminars: Matrimonial Services: Pastoral and Mediation Services. InductiorÈs and weekly edu¢ational programm¢s for New Muslims. Eduction and Training: Saturday Homework Club. Sunday Childr¢n's Arabic Education Proje¢L Weekday Quran Classes. Quran and Arabic Circle. Reference Library have continued to be provided througbout the year. The Elderly Well-Being Projeet" Lwi¢heon Club for elderty men, Therdpeuti¢ CounselliDg Servi¢e' Youth DevelopmenL Community Kttchen. Schcx)l and oth¢r ref¢r¢n¢. Signpost and referral service. Resource Centr¢. Cohesion.. Diversity and Awar¢n¢ss progrdmmw. Commwiity Lohesion Work" Networking and Sharing (Jood Practice with other Muslim Centres" Working with Faith Groups for the Common G(KKI. Supporttng G(K)d Causes" Annual Open Day" Offici Visits Programrn¢' Civic Participalion Programme. Media Engagem¢Dt. Sustainability: In-house Income-Generation Activities. UK Fundraising" Development of a W4f (Endowment) Proje composed of social enterprise projects that will benefii the commwiity through vocational training and job creation while generating modest sustainable renvservice inwme for the Trust. The consttuction phase for this particular project has been completed. The project is currently awaiting the funds required to purchase the designated space and begin the second phase of the work, which includes fit-out and flooring work. The third ph&se involves starting the SOCTal entcrprise projects and generating sustainable annual income. How the activities ulldertaken during the year contributed to the 4¢hievemÈnt of the gims and obj¢ctiv¢$: Over the p&sl tw¢nty-three years, th¢ C¢ntr¢ h&s e5tablish¢d a reputation for trusL integrity, and inclusivity. This is demonStred by the high number of eomrnunity members who attend prdyers and ellgt with the Centre's activities. the longstsnding partnership with the local voluntary and statutory sectors. who monitor and evaluate our perfornian¢e and extend iheir support. and the presence of two loca] authority councillors on th¢ Board of Trustee5. whach h&5 deepened the partn¢rship be¢¢n the Council and the CA)mmunity that the Centre represents. Th¢ saff gwup has b¢en ¢hard¢t¢ris¢d by the fact that mY have been involved since the early years of the Centr¢. This low turnover within the staff group reflects the commitsnent and g(M)d mordle fostered by the senior management And B0d. This is also vital to our ability to deliver relationship-based pastoral care. an aspe£t of our work that thc wmmunity values highly and one the Council IS always encouraged us to mainlain alongside other seryices such as therap¢uti¢ counselling and youth developmenL
Th¢ Muslim Cultural Herita ¢ Ctntr¢ rt of the Tte&S for the Year Ended 31 Mareh 2024 OBJECTIVES AND AcrtVfflES PubliL b¥ii¥fil When reviewing activities, the Trustees refer to the Charity Commi&8ion guidance on public benefit. The Trnstees ensure that the activities undertaken align with the charAt&ble objectives of th¢ Trnst and are satisfi¢d that th¢ Charity's activities meet the r¢quiren)ents for denkonstratiDg public benefit. Impact of tbe Charity's Perfornignce on Bellefici*ries The beneficiaries of the Charity include members of the public who attend and participate in various fiCtIonS listed under main activities. The ongoing su¢¢essful provision of these services h&s provided beneficiaries with essential spiritual support and related benefits, as reflecied in the contilluous streaEn of interdctivc. constructive, and positivc feedback received. The Chartty's efforts to diversify its income sources ensure that these services will be sustain¢d for the fores¢¢abl¢ future. Broader Impact on Soeiety Wider society has benefited from th¢ spiritual support and d¢v¢lopmentsl assistance provided to the beneficiaries, contributing to better-adjustel more content communities. Volunteers The Charity greatly appreciafrs the tireless efforts of its volunteer& who contribute to seNice pffivision. charity initiatives. and fifjndraising. It is Cstimatcd that volunteers contribute over 8,(K)O knurs annually. Valued conservatively at £12.21 per hour, this amounts to over £97,680. We extend our heartfelt thanks to all trtees. volunteers. and the bundreds of individuals who knnate their time and resourc¢s to the Charity. Th¢ir SUprt is vila] to our Ope10n$ and Coniinued success. Page 3
The Muslim Cultupal Herita è C•ktre rt of the Trusttes for the Year Ended 31 March 2024 STIi4TEGIC REPORT Achievement and perfornJAllce Chajitable aCtitIeS ' Daily Prayers & Religious Services: The Centre hosts daily five prayers. Friday Jumrnab. and occasional Janaza (funeral prayers). Imams provide pastoral care to individuals and families and deliver educational c1&8ses on subjeets su¢h Ls Thifr, (Quranic memorization), 'hadith', 'fiqh', and the Qurdn throughout the y¢ar. The Centre also utilizes modern fr¢hnologies like Zoom and social medi& especiatlv during Ramadan. ' Ramadan Services.. Despite challenges froTU the rising cost of living, the Centre hosted large gatherings during the fast month of Ramadan in 2023 and 2024 for breaking the f&st and perforniing night prny¢rs. Ramadan activities included.. o Daily religious and health sessions. o Free hot Iftar meals for about 300 worshippers. o Hot m¢als delivered to vulnerable households in th¢ wmmuntty. Edueattonal and TChIng Initiatives Saturday School.. In partnership with City-cirele. the Saturday School operatrs during terni time from 9:50 to 13.'30, serving students fmm Year 4 to 13. The cvrri¢ulwn includes Maths, English, Islamic Studies, and A-Level Maths. Over 80 young people attend. with volunte5 from various professiotl backgrounds. All volunteers undergo DBS checks and Child Protection training. ' Librdry.. The Centre's librdry provides 8 valuable resource for r¢s¢ar¢hers and community members interested in Islamic literature. Recent refijrbishments have enhanced its acce&sibility. and ongoing WOTk is focused on updating the library's collection to catsr to all age groups and ensure the visibility of resources. Community Support Services ' Al-manaar Community Kitchett: The kiichen provides fre5bly cooked rnea15 and hot drinks after Friday Jumrnah prdyers. It h&$ become a socid hub, helping ease trauma experienced by thc local community from the Grenfell Tower fire, COVJD-19, and the rising cost of living. Al-manaar Counselling Service (ACS).. The ACS offers Professional counselling services throughout the week, conduciing around 90 therapeutic sessions monthly. Thc wvicc now includcs 4)ccialist child thcrdPCUtic counsclling* and inforniai coffee motnings and aftern¢)ons raise awareness about mental heahh and provide support for individual and group discussions. Social Cohesion, Diversity, Aivarenes5 Prvgrams The Centre continues lo provide educational opportunities about Islam and Muslims to high¢r ¢du¢ation institutions. s¢hools. and universiti¢s. It works clos¢ly with Int¢r-Faith Forums and Networks and collaborates with statuwry services Itke the Poli¢¢ to ensur¢ wmmunity safety and w¢llb¢ing. Community and Interfaith Collaboration: The Centre actively parti¢ipat¢s in ctvic events and engages with other faith-bosed nnd non-faith org(misations ocross London. It also JWPPOrts hOmelS individuals in collaboration with Jewish and Christian organisations. The management is part of an interfaith leadership group that delivers joint initiatives to support tlK)se in nee(L This broad range of activities demonstrates the Centre's commitment to serving both the spirits1 and social needs of the local community whil¢ fostering cohesi0 SUPFK)rL and awareness acTOSS diverse groups Alm#n92r Youth Developmettt Initixtive (AYDI) The Almanaar Youth Developtnent Initiative (AYDI) is dediced to emwwerlng young people by providtng them with valuable skills and knowledge related to employmenL training, and educational opporturtÉties. The initiative also focuses on physical and leisure activities. ensuring that s¢rvi¢¢s m¢¢t the identified need5 of the youth. Over 25 young people are currently registered with AYDI, and this number eontinues to grow. Key Activities: ' Youth ConsultgétiOD5.' AYDI ¢nsag¢s young pwpl¢ from th6 planning phas¢ through to d¢liv¢ry to cnsur¢ that &¢t1tr¢S address specifie needs and skills gaps. Page 4
The Muslim Cultural Ilcrita t Cent rt of the Trustees f r the Year Ended 31 March 2024 Partnerships: AYDI collaknrdtes with organisations lik¢ the Metropolitan Police. delivering boxing programs and pr¢Yiously running sur¢¢ssful Poli¢¢-Cad¢t programs. N¢w tiVitieS, including cooking sessions and job fairs, are designed TO equip young people with life skills, vOnOnal knowledg¢. and employmeni oppornjniries. Physic41 #nd Ikisure Activities: A¢tivities fuS on both physi¢al fithess and personal development. For example, open-a¢cess phygi¢al sessions are paired with discussions about additional support needs for youth. Support for Low-lncome Families: AYDI ensures that young P)ple from low-income backgrounds are able to participate in summer leisure activities. promoting inelusivtty and access to essential experiences. One-¢o-One Support.. The initiative offers personaiised support for young people facing challenges in school, such as exclusions and tnentai health concerns. Weekly Awareness Sessions: These sessions provide a 5af¢ S for young people to dxscuss societal issues and challenges, particularly those arising from multipl¢ disadvantsg¢s. The AYDI program wa8 recognised for its outstanding Impact by winning the Beacon M(wue Award for "BLst Youth ervice in 201171 Sustainability Efforts The Centre's sustainability relies on a mix of eL)mrnunity donations, grant4 and income g¢n¢rated through Toom and hall hire. ' Donors and Grllnts: 'Ihe LeTrtre is grateful for the support of various donors. including community contributOTS, the Royal Borough of Kensington and Chelsw Islamtc Relief, and Help Yateern. who provide grants to fimd community services like the Therapeutic Counsclling Service. Room ind Conference Hall Hire.. The Centre gen¢ral¢s revenue by renting {t rooms and conference spac¢s for meetings and conferences. which contributes to its financial suslainability. ' Fundraising: The Centre holds fundraising activities, in¢ludin8 gUlar donatiODS duTing the weekly Jummah prdyers. These efforts are crucial for meeting the evolving needs of the community. In addition, the Centre is cLirnmitted to diversifying its funding sources to a]SUTe long-lcrni development and the ability to adapt to future community needs. Fulldraising activities The ckkarity relie- on grant aid from the donors whose support is highly appreciatrd. We shall continue to diversify our funding sources io ensure susrainabiliry and long-term developmcnt to Meet thc changing needs of the ctjmmunity we serve. Section 172(1) ststetlleDt Over lh¢ past tt¥enty-three years the Centre established a reputation for trusL int¢grity and being inclusive. This is FK)rne out in the high number of the communtty who attend prayers and engage wtth the Centre's activities. the longstanding donors, who continu¢ to monitor and evaluate our perforniance and continue lo extend their supp)rt. the fact that the Board of Trustres retains two local authority councilk)r5. which continucd to dcyclop ¢v¢n (k¢P th¢ parthcr3hip between the Council and the community for which the Centr is a Ix>nduiL The staff group has been ¢haratheris¢d over the years by the simple fact that many of them have been involved since the early years of the Centre. This low ttbrnover within the staff group is testament to the commilJneDi and good morale ¢ngendered by the senior management and Board. This is also incredibly important to our ability to deliver &t a high-level ertain relaknonship-based p&storal care. an element of our work that the community value highly and one which the Council in particulaT has always wanted us to maintsin as a priority. FinancR21 review Financial position During ihe year. the totsl income generdted w&s £682,340 { 2023: £747,065). The charity made a deficit of £66,464 for the year ended 31 March 2024 12023: surplus £124,938). After taking a¢L*)unt of the operations , the charity's available funds stood at £3,963,579 for the year ended 31 March 2024 { 4.029,873 as 31 March 2023). Page 5
Th• Muslim Cultural Herits e Centr¢ rt of the Trustees for the Yr Ended 31 March 2024 STRATEGIC REPORT FiiidiiLial revffiew Reserves policy The Centre has a Resetves Policy to ensur¢ its financiaI stability and long-tsrm viability. The policy aims to maintain sufficient reserves to absorb unexpected setbacks and capitalize on OPPOrninities for growth. This approach helps the Centre provide reliable services and secure funding over time. Target Reserves". The wlicy specifies that reserves sTrM)uld wver at le three months of operating costs. including payroll. contractual obligation5, and third-party con)mitm¢nts. These reserves are reviewed annU[Y to ensure they are adequate. Ch*llenges'. tkspite efforts to build reserves. the Centre faces difficufties in s¢curing enough revenue to cover ongoing operating costs and to build long-term financial sustainability. As a resulL maintaining eonsislent reserve levels has been challenging_ Future Plans for Financial Stability: To ldreSS this, the Centre is actively working on securing long-terni revenue funding through initiatives such LS: Endowment Project.. This project is currently under development to provide a more stable financial foundation. IA)ng-terni Sponsorships.. Lfforts are also focused on estab115hin8 long-tenn tunding relationships with sponsors. Principal Funding Souwes The Centre's primary funding sources include: Private Donations.. From local community donors and the wider London community. Grants.. From organisations such as the Royal Borough of Kcnsington and Chelse4 Islamic Relief and other UK-b&sed trusts. These funding strS are Crucial for supwrting the Centre's diverse acÉivtties and ensuTing its wntinued operation. Futurè Plans A tlwee-year strategic plan is in place lo guide the Centre's activitie5 and growth. Key priorities include: Youth, Elderly, and Ilom¢l¢ss S¢rviccs: Progrdms fo(51ng on addrcssing the needs of young people, the elderly. and the homeless, while also tackling issues like unemployment and educational underd¢hievem¢nL Facility Improvements". The Centre's training rwms and TneetiTEg halls have been partially refUIShed, including upgrades to WiFi and projector systems, to improve functionality tor events and progrdms. Enhan¢¢d Fundraising". Th¢ Centre is utilising Gift Aid and exploring online donalion platfonns tt) increase tts incom¢ and finanGial su5tainability- Through these efforts, the C.entre aims to secure a more stable financial futllre while continuing to serve the community's evolving needs. Page 6
Tljr Mu¥liill Cullural H¢rita ¢ CeDtre Re rt of the Trustees or the Year Ended 31 Marth 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is constituted as a company limited by guarantee. registered under the Companies Act and its governing document is a Memorandum and Articles of Association dated 04 November 1996 under company legislation. The charity is also known by its operating nam¢. MCHC/AITnanaar. By operation of law all trustees are dir¢¢lors under ihe Companies Act 2006 and all directors are trustees under Charities legiqlat.inn And have re4rn%ih1]1t1P.g, At %iitr.h, ijndèy knih eA)mp#ny 8nd e.hrity legiglation The. tnistees are all individiialg The management of the charity is the resN)nsibility of the Trustees who are app)inted and co-opted under the ternis of the Articles of Association. Research and Development Organisational strucNre The Memorandum and Articles of Association state that there shall be up to twefve Istee5 cornprising of seven community representstives, thre¢ appointed for special skills relevant to the worfi of the Trnst and a fiffther two nominees from the Royal Borough of Kensington and Chelw With the exception of Royal Borough nominees, InteeS are appointed by scrving trustees and may Serve for a mLximum of two wnse¢utive five- y¢ar tern)s. The Board of Trustees meets at least four times a year to manage the TNSI. The Trusl constitution provides for a Shura (Advisory) CouncTI. a body comprised of members of the community that provide supwrt, advice and ideas for the WO and development of the Trnst. Should the trnslees or the Shura Council need further advice or arbitration on matt¢rs ¢on¢¢rning th¢ TrusL they ar¢ able to ¢oDsult the Tahk¢¢m (Arbitration) Committ¢¢ which the c4)nstitution stipulates to be made up of seven ind¢peThdent people with the skills ID the areas of mediation and conciliation, along with the sound knowledge of Islamic Jurisprndence. The Shurd (Advigory) Council ceased to fimction over fourteen years ago due to por attendance. Its nature &$ merely an advisory body did not appear to have appealed to mosi of the original Membe who were fonner members of the Muslim Cornmunilie5 Forum, the precur50r to the MCHC Trust. Before re-e5tablishing the Shura Council - its nature, role and membership may need to be re-examined, w>ssibly &s part of an overa]I review of the MCHC Tn constitstion. The Tahkeem {arbitration) Committee w8s never forn)ally ¢stablishedlactivated. The Board of Truste¢s &ppoints a lead executive person (Chief Executive Officer) who is entrusted with the management of th¢ Tnlst. Sh¢lH¢ is supmis¢d {lin¢ manag¢d} by th¢ Chaimian (or who¢v¢r thc Chairman dclc8atCs this rolc to}. The CEO is responsible for managing the runni of ihe Trust and all asExcts related w. e.g., health and safety, staff and managerrtent of assets. public rel10n5. projects. events. etc. She/He reports back io the Board in the quarterly Board meetings on the Trust's financial position. current and planned worl progress made within Board approved work plan and annual budget and within th¢ paramet¢TS S¢t by Board d¢cisions. The CEO seeks fonnal authorisation for any new actions {of financial, stsffing or risk implications to the Centre) not already approved by the Board. Trnstees. subject to their availability, artend an inforniai monthly me¢ting with the 0 to &SSi5t in addressing any difficulties that may arise in impleFnerkting Board decisions or any new occurrences at the C¢ntre. Any decision5 ll¢¢d to Tnad¢ at th¢ munthly meetings, have to be rlfied at the next Board meeting Indu¢tioD and Training of new Trustees New Trustees are inducted into the workings of MCHC Trust including, Board policy and procedures. by way of electronic updates including, but not limited io. regular briefings on Tt Activities. The Trust also organises strategic planning and trustee-trainillg workshops for all serying memb¢r5. Engagcmcnt with etnployees The Charity maintsined a good wotking relationship with staff during the year. The board and management encourage open access dialogues between rnanagement and employees in order to build on the existing exc£llent relationship that existed. Engagement with supplier& customers and others The Charity engages with various Stakehold¢rs 2nd suppliers in a way that is most beneficial for the provision of the services of the Charity. The Charity ensures good working relationship with suppliers and members within the boundary of the law ill respect of pr(KUTcmcni, payTllCll( and Sre delivcry. Th¢ ¥hdTiry ¢T]sur¥s ¢111 liabiliii¢s SU](ln¥ fTVrn PAYE pensiolls deductions including contributions are met within the timescales acwrdingty. Page 7
be Musliw C1 l Hè e Centre rt of the Trnstees the Ye4r EYJdtd 31 Mar 2024 REFERENC£ AND ADMIYISTRATTVE DETAIIS Registered Company nMmb¢r 03273033 (EDgland alld Wat&s) Registered Charity number los85 Reglster¢a offL¢e 244 Acklam Road NoEth K¢nsJ"ngton don W105YG Trwt Esmatl Jasi¢{rcsigned 11.623) AbdlkarIM Khalil (resigned26.1023) K&sim Ali Chair Getard HaTaVeS (resi8D¢d 30.124) Dr Mustaf8 Abu-LisAn (rtSi8ned 2.1.24) Abd£lilah Sirokh Marouan¢ Bellch¢krJ (res18ll 2.124) Khadra Said Muna moham Ali Cl]r M8rw&n Elnagh {)lAted 8.3.24) Clly Kim D S Taylor-sthxth (#ppoin¢ed 8.324) Company Sttretary Abdur2hman Sayed IDdepeDdellf Exaer Dr E.Oloke, DBA, MBK MSC. F(LA SIAn K¢lly & Co alarttred Certifi¢d A¢rAiunthnts Suite 2, Wents BiMits¢ss C¢ntre l Electric Avettue Enfield EN3 7XU Reportof the ttllstees. illcorporating a StrdÈ¢ rcp(rt oDproved by ¢)rd¢r of the boArd of fmslees. &s thc ei)mpany dirEetors, on 15 Nov¢rnber 2024 aod sigtsed on the boarda bdmif by: Ko8imAli -Tn4t¢e p.p• Page 8
Inde endent EzAminer's Rc ort to th¢ Trustees of The Muslim Cultural Herits e Centre Independent examiner's report lo the Irustees of The Muslim Cultural Heritage Centre ('Ihe Company,) I report lo the charity trustees on my examination of the ac¢ounts of the Company for the yw ended 31 March 2024. Responsibilities and basis of report A5 tli¢ ¢liaA ify's iiublrrs vf cU1p1Y (and alsYTr tt5 directors for the purposes of company law) you ar¢ r¢5ponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Mhe 2006 ACV). Having satisfi¢d myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Art and are eli%ible for independent examination. I report in respect of my examination of your charity's COUnts as catTied out under Section 145 of the Charities Act 2011 {'the 2011 ACY). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Art. Independent examiDer's statement Sincc your chariry's gross income exceeded £250,0(K) youT exavniner must b¢ a metnber of a listed ly)dy. l Can conftrni that I am qualified to undertake the examination kcause I am a member of the Association of Chartered Certified Accountants, whieh is one of the li_rted IKJdi£%_ I have completed my cxamination. I confirni that no matters hav¢ come to my attention in comiection with the examination giving me cause to beli¢ve'. aecouniing records were noi kept in respect of the Lompany os required by secti.on J116 of the 2UU6 Act. or the accounts do not accord with those records" or the aOunts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts giv¢ a true and fair view which is not a matter ¢onstd¢red as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statemenl of Recommended Pra¢tice for accounting and rertIng by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I hav¢ Mb COllf¢Tns and have come across no other man¢rs in wnn¢ction with the exatnination to whÈch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Dr E.Oloke, DBA, MBA, MSC, FCCA The Association of c.hartered CrtIfied Actountonts Stan Kelly & Co Chartered Certified Accountants Suite 2. Wenta Business Centre l El¢kri¢ Av¢nu Enfield EN) 7XU Date: ..i.S.-. IA.-..2¢.1....... Page 9
The Muslim Culthrnl Herita ¢ C¢t Statem¢nt of Fillancixl Activiti for the Y¢aT Ended 31 Marth 2024 31.3.24 Total tuD¢ts 3 1.3.23 Totsl fvnds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 562J65 679.746 Other trnding activities Other in¢om¢ iio 119,865 2,684 Totsl 682J40 747 065 EXPEN'DITURE ON Raising funds 2269 Charitable activities Charitable General 606?53 58J45 582,368 1,800 Other 35,690 Totsl 74 622 127 NET INCOMEI{EXPENDITURE) (66294) 124.938 RECONCILIATION OF FUNDS Total funds broughi foTward 4,1129073 3,904.935 TOTAL FUNDS CARED FORWARD 3.963379 4 029.873 The notes fonn part of these financial statements Page 10
The Muslim Culthral H¢rita t Centr¢ Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Totsl fvnds Notes FIXED ASSETS Tangible assets li 3,497,1)02 3.506,194 CURRENT ASSETS Debtors Cash at bank and in hand 12 12,8(14 499 811 79,249 459,488 512,615 538,737 CREDITORS Amounts falling due within one year 13 (46,038) (15.058) NET CURRENf ASSETS 466 77 523 679 TOTAL A&SETS LESS CURRENT LIABILITIES 596379 4.029,873 NET ASSETS 3 963579 4 029 873 FUNDS Unrestricted fvnds 14 3.963579 4.029,873 TOTAL FUNDS 3,963579 4,029,873 The charitable company is ¢ntitled to exemption from audit UDd& Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The memberg have not required the company to obtain an audit of its finaDeial Statements for the ye9T ended 31 Nknch ?OJ? in ac¢ordan¢e with Section 476 of the Companies Act 2(M)6. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps a¢wunting r¢¢ord5 that wmply with Sections 386 and 387 of the Companies Act 2006 and preparing financial ststements which give a true and fair view of the state of affair5 of the charitable wmpany as at th¢ end of ¢a¢h financial year and of its surplus or deficit for each financial year in rdance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to fmancial ststements. so far as applicable to the charAt&ble company. (b) The filwicial statements were approved by the BoaTd of Tnistees and authorised for issue on 15 November 2024 and were signed on its behalf by- The notes forni part of these financial statements Page 11 continued...
The.Iluslim Culknrnl erita lltr ance Slieet- tontlnoed 31 Marcli 2024 uot Mohamed Ali- TEU5te Page 12
Thc Muslim Culturdl Herits e Centrc Cash Flow Statement for the Year Ended 31 March 2024 31J24 31.3.23 Notss Cash flows from operating activities Cash gener*ed from operations Net c&sh provided by operating actsvitiÈq 72.074 Cash flows from investing activities Purchase of tangible fixed assets Net ¢ash provided byl(used in) investing activiti¢s Change in cash 2nd cash equivalents in tbe reporting period Cash and cash equivalents at tbe beginning of the reporting period 40J23 70.478 459.488 389,010 Cash and cash equivalents at tbe end of the reporting period 499011 459 488 The notes fonn part of these financial statements Page 13
The Muslinh CulturAI H¢rits c Ccntrt Notes to the Cash Flow Ststement for the Year Ended 31 March 2024 RECONCILIATION OF NET IEXPENDITUREYINCOME TO NET CASH F)w FROM OPERATING AcfiviTILS 31J.24 31.3.23 Net (expenditure)fiDcome for the reporting period per the StatemenÉ of Financial Activities) djustments for: Depreciation Gharg¢s De¢aSe/(IncreaSe) in debtors Increase in creditors (66294) 124,938 9,192 66,445 30,9811 9,192 (70.252) 8.196 Net cash provided by operations 40 ANALYSIS OF CHANGES IN NET FIINDS At 1.4.23 Cash flow At 31J.24 et cash Cash at and in hand 459,488 40J23 499811 40 459 488 23 499*11 Total 459,488 40J23 499 The note5 forni part of the5¢ fancial statements Page 14
TIAe Muslim Culturnl Herikn c Centr¢ Notes to the Financial Ststements for the Year Ended 31 IVlrcb 2024 AccouNfiNG POLICIES Basi¥ of preparAng the Ilnncll statements The f]nancial statements of the charitable wmpany. which is a public benefit entity under FRS 102. have been Ppared in accordance with the ChaTities SORP {FRS 102) 'Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their acLX)unts in accordance with the Trinancial Rew>rting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),. Finaticial Reporting Standard 102 The Financial Reporting Standard applicable in th¢ UK and Republic of Ireland, and the Compani¢s 2006. The financial statements have b¢¢n prepared under the historical cost convention. Income All income is r¢wgnised in the Statement of Financial Activities ollce the charity h&s ¢ntitlement to the fimds, il is probable the income will be received and the amount can be rneasured reliably. Expenditure Liabilities are r¢cognis¢d as expenditure &$ six)n as there is a legal or COnructIve obligation committing Ihe chariry to that expenditure, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation ¢an be m¢asuTed reliably. Expenditure is unICd for on an acClS b&5is and has be¢n classified und¢r headings that aggregate all cost related io the category. Where costs cannot b¢ dir¢¢tly attnbuted to PacUlar headings they have been allocatrd to aotivities on a b&sis consistent with the use of resources. Tgngible fixed ssets Depreciation is provided at the following annual rates in order to lte off each asset over its estim8led useful life. Plant machinery Fixtures and tittings ISYO on r¢du¢iDg balance 250/0 on reducing balance Taxation The charity is ¢x¢mpt from corpK)ration i)n its chatitable xtivities. Fund accounting UnrestrÈcted funds can be ed in accordance with the charitable objectives at the discretion of the trustees. Resvtcted funds can only used for particular restrictd pUTseS within the objects of the chartty. Restrictions arise when specified by the donor or when fimds are rnised for particular restricted purposes. Further explonotion of th¢ and purpox of cach fimd 1$ in¢lud¢d in th¢ notcs to thc financxal statem¢ots. Pension costs aDd other post-retirement benefits The ¢haritablc company operates a d¢fJn¢d contribution pension scheme. Contributions payable to the charitsble company's pension schcme are charged to the sts¢em¢nt of Financial Activities in the perfftod ts which they relth. Page 15 cAintinued...
The Muslirn Cultural Ilerita Centre Notes to the Financial StatemeDts- continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 31J24 31.3.23 Private donation Donations ift aid Legacies and endowment Grants Friday offerings Zakat. sadaqa and fitrana-res Ramadan collections Eid Collections 78,489 54,050 19,IN)O 128293 137,878 94,680 22,426 19,606 7.748 54,569 25,146 87.377 359,550 94,517 19,934 26.385 562WS 679.746 Grdnts received, included in the above, are as follows: 31J.24 31.3.23 Other grants 137078 359 550 OTHER TIL4DING AcrivtTIES 313.24 31.3.23 Canen receipts iio 2.684 RAISING FUNDS Raising donations and legaeies 31J.24 31.3.23 Imam cover Page 16 4xJnÉinued...
The Muslirn CUlra1 Herits ¢ Cekntrc Notes to the Financial Ststements - eontinlled for the Year Ended 31 March 2024 CHARITABLE ACTIVITIES COSTS SupF(Jrt costs (see note 6) Dit Totals Charitable General 653J53 (47,0(Ml) 606J53 IlJ45 SUPPORT COSTS Governance )SL Totsls Charit2ble General {47,0011) 56,7211 (47,IM)O) 58J45 1.625 1,625 9,720 IlJ45 NET INCOME/(EXPENDITURE) Net incomel(expendilure) is statrd after ch8rgingJ(crediting): 31JJ4 313.23 Depreciation- owned Sets 9,192 9.192 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, r¢muneration OT other benefits for the year ¢nd¢d 31 March 2024 nor for the year end¢d 31 March 2023. Tnis¢ees' e.xpenses There wer¢ tK) trustees, expenses paid for th¢ year CDded 31 March 2024 nor for the year eThd 31 Mah 2023. STAFF cosrs 31J.24 Wages and salaries Social security costs Other pension costs 417,4 3),004 io 416,416 36.063 462235 463,370 average monthly number of ¢mploy¢e5 during the year was as follows". 31J.24 20 31.3.23 21 Management and support staff Page 17 ontinued...
Thc Muslim Cultural Herita e Cent otes to the FinaDti21 Statements- continued for the Year Ended 31 March 2024 STAFF COSTS- eontinued No employees received emolumenTS In excess of £60.1)XI. io. COMPARATIVES FOR THE STATEMEwf OF FINANCIAL ACTIVITIES Total INCOML E AND ENDOWMENTS FROM Donations and legacies 679,746 Other trading aclivities Other income 1684 64.635 Total 747.065 EXPENDITURE ON Raising funds 2,269 Charitgble activities Charitable General 582,368 1,800 Other 35.690 Tot*1 622,127 NET INCOME 124,95 REcof4ciLIATION OF FUNDS Total funds brought forward 3,904.935 TOTAL FUNDS CARRIED FORWARD 4 029 873 Page 18 continued...
Thc Muslim Culthral Iletita e Clt otes to the Finamcial Ststemettts- continued for the Ytar Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures Freehold property Ylant and mh1cry fitting5 Totsls COST At l April 2023 and .11 MAreh ?.n?.4 4,7Q&903 111.707 5,144,$58 DEPRECIATION At l April 2023 Charge for year IW9,430 102J94 226 6,408 1,638J64 9,192 At 31 Mah 2024 105 178 232 948 56 NET BOOK VALUE At.) l March 2024 7529 3.4971102 At 31 March 2023 3.484) 473 6.408 i 506 194 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31324 31.3.23 Other debtors 12,804 79,249 13. CREDITORS: AMOUNTS FALLING DUE wmiiN ONE YEAR 31J24 31.3.23 Trade creditors Social security and other tsxes Other creditors Accrued expenses (i) 18,000 26239 7.583 5,675 14. MOVEMENT IN FUNDS movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 4,029,873 (66394) 3.963579 TOTAL FUNDS 4 029,873 66 94 3 963 579 Page 19 continued...
The Muslim Cylturnl Hcrita ¢ Centre Notes to the Finaneial Statem nts- eontinued for the Year Ended 31 March 2024 14. MOVEMENT IN FUNDS- c()ntiDued Net iiiKJN¢IIi¥iil includ in th¢ aLMJve are as follows: Incoming Resourccs expended Movem¢nt in funds Unrestricted fund5 Generdl fund 682J40 {748,634) (66294) TOTAL FUNDS 748,634) Comparatives for movement in funds Net movement in fvnds At 31.3.23 At 1.4.22 Unres¢rieted funds General fund 3,904,935 124.938 4,029,873 TOTAL FUNDS 3.904.935 124 938 4 029,873 Comparative net movement in fund4 Includ in the ave are as follows: Incoming resources Resourc¢s expend Movement in funds Unrestricted fun4ts General fid 747,065 (622.127) 124,938 TOTAL FUNDS 622.127 124.938 A current year 12 months and prior year 12 months comb]ned positn is as tollows: Net movem¢nt in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 3.904.935 58,644 3,963.579 TOTAL FUNDS 3 963 579 Page 20 continued...
Thc Muslim Cultural Ilerita t C¢ntre Notes to the Financial Statements- colltinued forthe Year Ended 31 March 2024 MOVEMENT IN FUNDS - eontinued A curreni year 12 months and prior year 12 months wmbTn¢d net movement in fimds. included in the above ar¢ a5 follows= Incoming Resources expe.nded Movement in fiindg Unrestricted funds General fund 1.429,405 (1,370,761) 58,644 TOTAL FUNDS 1429 405 (1370 761) 15. RELATED PARTY DISCLOSURES There were Th) related party transactions for the year ended 31 March 2024. Page 21
The Muslim cul1 Htrits e Centr¢ Detailed Statement of Financial Activities for tbe Year Ellded 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMErfrs Donations and legacies Privaie donation. Donaiions Gift aid Legacies and endowment Grants Friday offerings Zak4 sadaqa and fitrana-res Ramadan colleetions Eid collections 7&489 54.050 19,lJOO 12&293 137078 94,680 22,426 19,606 7,94.1 7,748 54.569 25,146 87.377 359,550 94,517 19,934 26,385 562a65 679.746 Other trading activities Canteen receipts iio 2.684 Other income Rent received Hall hire Activities income Classes Counselling service Catellng -general Elderly well-being project Training and learning 43,930 24.000 29.288 3,230 3,135 820 3,508 654 16509 495 720 119,865 Total ineomiDg resource 682340 747.065 EXPEfyDITURE Rai8ing doll4tion$ and legcies Imam cover 2269 Charltable aetlvities Wages Social security Pensions Rates and water Jn$uran¢¢ Light and heal CatTied forward 417,IM14 35,IMb4 10327 IOJ77 7,783 2&940 509J35 416.416 36,063 10,891 2.609 7.169 37,199 510,347 This page ¢k)&s not form part of th¢ statutory financial statements 14ge 22
The Muslim Cultur¥LI Herits ¢ C¢Dtr¢ De¢ailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Charitable activities Bjouglit fui watd Telephone Postage and stationery Sundries Caterin2 and refreshments Staff welfare Staff training Cleaning Repairs & maint¢nan¢e Travelling expenses Zakat and fitrana-restrict R&madxn expense% Eid fitri party expenses Consultancy Volunteer's exp¢ns¢s Waste and refuse Subscripiions Covid-19 expenses Sadaqa masjit Counselling expenses Fund raising and donation cost HR recruithient and retention 509a35 3230 1,770 189 5 10.347 2,070 3,557 6,661 937 559 622 3,846 16.172 462 8.020 9.778 1,917 1334 3327 &140 832 12101 ISJIR6 2287 29,058 689 IW73 1.759 5.719 144 1.042 13,987 47,IMKI 653J53 573.520 Other Project expenses Charitxble donation Plant and machinery Fixiures and fittings Computer equipment 74.744 22.909 3.589 1784 408 6.408 83,936 35.690 Support rosts Finance Bank charges 1,625 3,752 Governance costs Legal and professional fees Independent examiner's fees 7,920 1,800 5,096 1,800 Tothl resourceg expended 74&634 622 127 Net {expenditureyiDcome 6&294 124.938 This pag¢ (b¢s not forn) part of the sthtuwry financial staternents Page 23