ABU-BAKR MASJID ABU BAKR MASJID TRUST Trustees Report and Financial Statements for the year ended 31st March 2022 Registered Charity Number: 1064014 Address: 330 Oxford Road, Reading RG30 IAF Website: info abmreadin .or Abu Bakr Masjid, 330 Oxford Road, Reading. RG30 IAF 0118 958 1833 Registered Charity Number. 1064014 madrassa@abmreading.org - info@abmreadin&org wWw.abM￿adlng.0rg The Trust was established by trust deed dated 24th June 1997 as amended by deed of variation on 14th July 1997. The Trust wa5 registered wtth the Charity Commission on 19th August 1997. The Trustees present their annual report and financial ststements for the year ended 31st March 2022. The Trustees who serNtd during the year and up to the date of this ￿port are; - Mr Mohammad Saood Mr Jawed Iqbal - Mr Mohammad Tariq - MrAhmed Gaffar Dr Ali Asghar - Mr Khalid Mahmood OWEcfivES and AcfiviTIES: The Trust was established with the intention of building a purpose-built Islamic Centre in the west of Reading to promote the teachings of Islam, provide 151amic education to the Muslim community and other charitable services which are beneficial to the wider community including the facilitie5 for congregational prayer in the Borough of Reading and to provide other facilities in the interest of social welfare to those who have a need. During the year. the Trust continue to provide services in accordan￿ with the objertives and to raise funds by collections and donations to enable improvement and further development of the Centre. PROGRESS: The Centre has been operational for over seven years now when it opened to provide facillties for prayers, in beginning of 2014. evening school (Madrassah) was opened for children to provide Islamic education and Arabic lan8ua8e. Madrassah is gradually expanding to cater further educational needs of the Muslim community. In September 2020. a new cla55 lyear 71. for both boys and girls. was introdu￿d. In 2021. Madras5a stsrted another class {year81 for both boys and girls and started new short lslarnic courses for brothers and sisters. Most of the building work has been completed with On￿ minor items and general update5 and maintenance work which is Still ongoing. Abu B2kr Masjid. 330 Oxford Road. Reading, RG30 IAF 0118 958 1833 Registered Charity Number. 1064014 madrassa@abmreading.org - inf(Qabmreading.org V4wwAbmreading.org ABU-BAKR MASJID FUNDRAISING: We continue to fundraise, primarily from the congregation during Juma'h {Friday prayer) and Ramadan in particular. However, due to the pandemic, masjid has been closed most of the year which means normal fund-raising activities almost stopped and masjid income significantly dropped but with slow down of the pandemic and resuming of the normal attivit￿$ of the Centre, donations have increased by 38% compared to last year. As a result of the closure of the masjid during the lockdown, we continued the process of raising additional funds through Paypal and online streaming which also contributed towards increased donatK)n income. TRusfEES REPORT FOR THE YEAR END 31 MAR(11 Z022: The Tmst ha5 regular donations coming through the standlng orders plus weekly collections from community on Friday prayer. It is envisaged that this regular funding will continue into the foreseeable future. It is the Trust policy that unrestritted funds which have not been specifically designated for a specific use should be maintained at a level above three to six months expenditure. The Trustees consider reserves at this level will ensure tha( in the event of a significant unexpected drop in donations. they will be able to continue the Trust's current activities while consideration is given to ways in which additional funds may be raised. The level of reserves maintained throughout the year was above this minimum level. Ouring the year. there was no major expenditure related to any spectfic project, only the general maintenance of the buildings and stsff remunerations were the main expenditures. hen￿ the retained earnings this year compared to previous year have increased increased. ststement of Trustees. responsibl￿eS The Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice). Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and applicatFon of resoUr￿S of the charity for that year. In preparing these financial statements the Trustees are reqUI￿d to: select suitable accountin8 policies and then apply them consistently observe the methods and principles in the Chartties SORP Abu Bakr Masjid. 330 Oxford Road, Reading, RG30 IAF 0118 958 1833 Registered Charity Number. 1064014 madrassa@abmreading.0￿ - info@abmreadin&orE & yNthi.abmreading.org ABU.BAKR MASJID observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explained in the financial statements and prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the Trust will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993, 2CKJ6 and 2011- and the Charity (Accounts and Reports) Regulations 2(X)8. They are also responsible for safeguarding the asset5 of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board of Trustees Trustee Abu Bakr Masjid, 330 Oxford Road. Readin& RG30 IAF 0118 958 1833 Registered Charity Number. 1064014 madra55a@abmreading.org - info@abmreadin&org Q wv4w.abmreading.org Abu Bakr Masjid Trust Income Statement for the pèriod Ended 31° Mar 2022 Notes Z022 2021 Donations 164,679 119,546 Other Income 169.580 148,391 Total Income 334.259 267,937 Salaries and wages 1143,1781 1112.8171 Other administrative Expenses 152.3651 149.5791 Return of Interest Free Loan iioo.ocoi 1195.5431 1262,3961 Net Operating Income 138.716 5,541 Bank Charge5 Profit for the period 138,716 5,541 Notes.. l- Other income relates totho followlng Madrassa Fee 121,183.(Kl 37.1￿. Rent Recewed Furlou h claim 11297.C 169.580.(X) Slatement of Financial Position as at 3V Mai 2022 Notes 2022 2021 Fixed Assets Land and Building Motor Vehicles 1.120,544 1,120.544 Fixture and Fittings Intangible Assets 1,120,544 1,120,544 Current Assets Debtors Cash at bank and in hand 346,329 207.613 346,329 207,613 Current Ilabilities Creditors Short tèrm loans Accruals Nèt Current Assets 346,329 207.613 Long Term Liabilities 125,0001 125.¢J)01 Net Assets 1,441,873 1,303,157 Financed By Retained Earnings 1,303.157 1.297,616 Current Earnings 138,716 1,441,873 1,303,157 1,441.873 1.303,157