REGISTERED CHARITY NUMBER: 1066665 MUSLIM WELFARE INSTITUTE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Xeinadin Audit Ltd (Statutory Auditor) Ground Floor Citygate Longridge Rd Preston PR2 5BQ
MUSLIM WELFARE INSTITUTE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Reference and Adminlstrative Details Trustees. Report Report of the Independent Audltors statement of Financial Activities Statement of Financial Position 10 statement of Cash Flows Notes to the Statement of Cash Flows 12 Notes to the Financial Statements 13 to 20
MUSLIM WELFARE INSTITUTE REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Mr Yusuf Ibrahim Ahmed Moosa Mr Aziz Raje Mr Hasan Patel Principal address Unit 301 Daisyfield Business Centre Daisyfield Mill, Appleby Street Blackburn Lancashire BB13BL Registered charity number 1066665 Auditors Xeinadin Audit Ltd (Statutory Auditor) Ground Floor Citygate Longridge Rd Preston PR2 5BQ Page 1
MUSLIM WELFARE INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Objectives and activities Objectives and aims The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit.- running a charity.. The charity run on the basis of Public benefit and not for profit purpose. The objectives of the charity are as outlined in the charity's Governing Instrument. The main objective of the charity is needy people primarily in, but not restricted to, India, Albania and Bangladesh by focusing on the following areas: Providing housing and healthcare facilities. Establishing and renovating mosques, Cultural centre and madrasas. Providing education and training in Islamic faith. Achievement and performance Charitable activities This year's annual report covers the 7 countries we are working in at present. We have separated the countries into 3 regions.. The Balkans which covers Albania, Bosnia and Macedonia. United Kingdom which covers England. Asia which covers Bangladesh, India and West Bengal. The Balkans Albania Dar-e Arqam Education Centre Our Dar-e-Arqam Education Centre in Tirana completed its third full year during 2023. As well as serving as our head office in the Balkans, it also provides accommodation to visiting guests and the centre is utilised on the weekends for orphans and widows. classes. Jameah Riyadh ul Uloom - Laknas Our JRU institute opened in Laknas in 2015 and completed its 8th year. The institute is in use for education classes for students, orphans and widows. Mosques Renovation Programme 10 Mosques were renovated throughout the year 2023. This is now becoming a very popular and regular project in Albania MA. Food Distribution Project To assist needy families, we distributed food packs during the Holy month of Ramadhan & at the time of Eid-ul-Fitr. We also distributed meat bags on the occasion of Eid-ul-Adha. Educational Projects 100 classes were funded by the MWI, where 1600 students received free education. Orphans Sponsorship 550 orphans were sponsored for 12 months. Bosnia Following a visit to Bosnia in 2018, the MWI initiated its first project in Bosnia during the year 2020. We continued with this during the year 2023. Page 2
MUSLIM WELFARE INSTITUTE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Widows Sponsorship We sponsored 20 families with a cash grant of £200 each in Srebrenica. Macedonia Educational projects 14 classes were funded by the MWI, where 260 children received free education. United Kingdom England Hardship Assistance Programme: Blackburn: Assistance was provided to a number of families who were going through difficult circumstances. Food, clothing, basic essentials, rental payments et¢ etc were provided. We worked closely with the refugees. organisations here in Blackburn, who carried out the due diligence checks. Asylum seekersl Refugees.. We assisted a number of asylum seekers here in Blackburn and the Northwest with cash grants. Asia Bangladesh Orphanage Project Our orphanage constructed in the village of Begumpur completed its 19th year. The orphanage is home to 30 orphans. A number of orphans who have reached the age of 18 have now moved on into either full time education, further studies or vocational training programmes, depending on their final exam results. Education Programmes 35 part-time schools were funded where approx. 1500 children acquired secular & religious education. Food Distribution Hundreds of needy families were provided with lftaar Packs in Ramadhan and hundreds of gift packs were distributed prior to the festival of Eid-ul-Fitr.Hundreds of meat bags were distributed on the occasion of Eid-ul-Adha. Water Programmes 150 hand pumps installed at various locations throughout the year. Income Support Programme 45 rickshaw vans distributed. Wheelchair Distribution 25 wheelchairs distributed. Group Weddings Programme Finance was provided for 20 couples who got married at the group weddings programmes that were organised during the year. India Masjid Construction 3 Masjids constructed. Weddings Programme 35 weddings financed. Page 3
MUSLIM WELFARE INSTITUTE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Cataract Operations 80 operations carried out. Dialysis Services 160 dialysis services carried out. Food Distribution Food parcels distributed during the holy month of Ramadhan & at the time of Eid-ul-Fitr. Widowslorphans Sponsorship 100 orphans were sponsored in and around the Ahmedabad area. West Bengav Bihar Students sponsorship 65 students sponsored to become Hafez of the Quraan at a local educational institute in Uttar Dinajpur. Food Distribution Food parcels distributed for the holy month of Ramadhan & at the time of Eid-ul-Fitr. Visits MWI representativeslstaff visited Albania and Macedonia during 2023 to assess and see the projects first hand and ensure they are running smoothly. Structure. governance and management Charity constitution The power of appointing new Trustees is vested in the Trustees and there are informal procedures in place for the induction and training of new Trustees. Trustees are also encouraged to attend relevant briefings courses. Organlsatlonal structure The MWI trustee structure remains the same. No changes or amendments during the year. Risk management The trustees 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 reasonable assurance against fraud and error. Muslim Welfare Institute has a risk management policy which is regularly revised to identify and address all kinds of risks every year. The existing management team is well equipped to discourse, manage and report the risks internally and externally. The indicated risks identified were successfully reviewed and assessed by the senior management and trustees during the reporting period. These risks, including strategic, governance and operational risks, have been identified and ranked in terms of impact and likelihood. The trustees are satisfied that systems are in place to monitor, manage and mitigate any exposure from these risks and ensure they are reviewed regularly. Property Sale The MWI premises on 35 Wellington Street st Johns had been on the market for nearly 2 years. An offer of £245,000 was received during the year 2020. The trustees and senior staff decided to accept the offer. Property was handed over to the new buyers on Friday 27th November 2020. We moved into our new rented office on Monday 30th November 2020. This is Suite 301 at The Daisyfield Business Centre on Appleby Street. Page 4
MUSLIM WELFARE INSTITUTE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, governance and management Property Purchase A small childrens nursery came on the market towards the end of 2023. Asking price was in the region of £250,000. After viewing the propety, we submitted an offer for £235,000 which was accepted. Sale was completed in April 2024. Statement of trustees. responsibilities The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP" make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuraoy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on and signed on its behalf by.. Mr Hasan Patel- Trustee Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MUSLIM WELFARE INSTITUTE Opinion We have audited the financial statements of Muslim Welfare Institute (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,; and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. other Information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MUSLIM WELFARE INSTITUTE Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the trustees Report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responsibilltles for the audit of the financial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations., we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the charities sector,. we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence- and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by". making enquiries of management as to where they considered there was susceptibility.to fraud. their knowledge of actual, suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MUSLIM WELFARE INSTITUTE To address the risk of fraud through management bias and override of controls. we: performed analytical procedures to identify any unusual or unexpected relationships- tested journal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates set out in notes to accounts were indicative of potential bias- and investigated the rationale behind significant or unusual transactions. in response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to- agreeing financial statement disclosures to underlying supporting documentation-, reading the minutes of meetings of those charged with governance., enquiring of management as to actual and potential litigation and claims- and reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors. There are inherent limitations in our audit procedures described above. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at w.frC.org.UkIaudlt0rsreSponsib]Iitles. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report. or ft)r the opinions we have formed. -KJL Xeinadin Audit Ltd (Statutory Auditor) Ground Floor Citygate Longridge Rd Preston PR2 5BQ Date". Mlot.l.LrfL.(fr...... Page 8
MUSLIM WELFARE INSTITUTE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Restricted funds fund Notes Income and endowments from Donations and legacies 120,595 1,475,809 1,596,404 1.518.558 Expenditure on Raising funds 12,728 12,728 10.348 Charitable activities Restricted expenditure Unrestricted expenditure Support costs 1,519,414 1,519,414 63,810 123,649 1,396,550 89,367 127,604 63,810 123,649 Total 200,187 1,519,414 1.719,601 1,623,869 NET INCOMEI(EXPENDITURE) Transfers between funds (79,592) 11,827 {43,605) {11,827) (123,197) (105,311) Net movement in funds (67,765) {55,432) {123,197) (105.311) Reconciliation of funds Total funds brought forward 385.122 65.861 450.983 556,294 Total funds carried fonNard 317,357 10,429 327,786 450,983 Continuing operations All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 9
MUSLIM WELFARE INSTITUTE STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Restricted funds fund Notes Fixed assets Tangible assets 1,237 1,237 1,455 Current assets Debtors Cash at bank and in hand 303,543 16,977 303,543 27,406 371,937 81.509 10,429 320,520 10,429 330,949 453,446 Credltors Amounts falling due within one year 10 (4,400) (4,400) {3,918) Net current assets 316,120 10,429 326,549 449,528 Total assets less current liabilities 317,357 10,429 327,786 450,983 NET ASSETS 317,357 10,429 327,786 450,983 Funds Unrestricted funds Restricted funds 11 317,357 10,429 385,122 65,861 Total funds 327,786 450.983 The financial statements were approved by the Board of Trustees and authorised for issue on ..2..*.-..i.o.-2E)2.4... and were signed on its behalf by.. Mr Hasan Patel - Trustee The notes form part of these financial ststements Page10
MUSLIM WELFARE INSTITUTE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operating activities Cash generated from operations (54,103) {152.311) Net cash used in operating activities {54,103) (152,311) Cash flows from Investing activities Purchase of tangible fixed assets (300) Net cash provided byl(used in) investing activities (300) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (54,103) (152.611) 81,509 234,120 Cash and cash equivalents at the end of the reporting period 27,406 81,509 The notes form part of these financial statements Page11
MUSLIM WELFARE INSTITUTE NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Reconciliation of net expenditure to net cash flow from operating activities 2023 2022 Net expenditure for the reporting period (as per the Statement of Financial Activities Adjustments for: Depreciation charges Decreasel{increase) in debtors Increase in creditors (123,197) {105,311) 218 68,394 482 257 (47,483) 226 Net cash used in operations (54,103) (152,311) Analysis of changes in net funds At 1.1.23 Cash flow At 31.12.23 Net cash Cash at bank and in hand 81,509 (54,103) 27,406 81,509 (54.103) 27,406 Total 81,509 (54,103) 27,406 The notes form part of these financial statements Page 12
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Critical accounting judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 150/0 on reducing balance Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Page13 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies - continued Flnancial instruments The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash and bank in hand, trade debtors and other debtors £330,949 (2022.. £453,446). A specific provision is made for debts for which reconcilability is in doubt. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes £20 (2022: £258). Trade and other debtors Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. Trade and other credltors Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. Donations and legacies 2023 2022 Donations 1,596,404 1.518,558 Raising funds Raising donations and legacies 2023 2022 Charity dinner Support costs 10,000 2,728 5,526 4,822 12,728 10,348 Page 14 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activities costs Support costs (see note 5) Direct Costs Totals Restricted expenditure Unrestricted expenditure Support costs 1,519.414 63,810 1.519,414 63.810 123,649 123,649 1,583,224 123.649 1,706,873 Expenditure on charitable activities comprises costs associated with the provision of emergency relief and other humanitarian developments, carried out by the charity, directly and through partner organizations worldwide. This is further analysed by country as follows. Partner Organizations 2023 2022 Albania projects India projects Bangladesh projects Adoption and hardship projects Other projects 915,198 407,760 150,212 10,960 99,094 861,050 455.500 230,000 34,346 56,521 1,583,224 1.487,417 Support costs Governance costs Management Finance Other Totals Raising donations and legacies Support costs 293 2,806 2,435 4,832 2.728 123,649 108,421 7,590 108.421 3,099 7,267 7,590 126,377 Support costs, included in the above, are as follows: Management 2023 Support costs 2022 Total activities Wages Social security other operating leases Rates and water Insurance Light and heat Telephone 84,866 1,430 5,215 215 389 1,265 612 94,757 237 6,181 1,211 1,612 721 Carried forward 93,992 104,719 Page 15 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs - continued Management- continued 2023 Support costs 2022 Total activities Brought forward Postage and stationery Sundries Fixtures and fittings depreciation 93,992 9,109 5,102 218 104,719 8,449 372 257 108,421 113,797 Finance 2023 2022 Raising donations and legacies Support costs Total activities Total activities Bank charges 293 2,806 3,099 3,901 other 2023 2022 Raising donations and legacies Support costs Total activities Total activities Repairs and renewals Motor expenses Travel expenses 2,435 2,435 3,348 505 2,505 4,832 4,832 2,435 4,832 7,267 8.358 Governance costs 2023 Support costs 2022 Total actlvlties Auditors, fee Accountancy and legal fees 5,520 2,070 4,800 2,070 7.590 6,870 Page 16 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees, remuneration and benefits There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. Staff costs 2023 2022 Wages and salaries Social security costs 84,866 1,430 94,757 237 86,296 94,994 The average monthly number of employees during the year was as follows.. 2023 2022 Management No employees received emoluments in excess of £60,000. Tangible fixed assets Fixtures and fittings Cost At 1 January 2023 and 31 December 2023 10,890 Depreciation At 1 January 2023 Charge for year 9,435 218 At 31 December 2023 9,653 Net book value At 31 December 2023 1.237 At 31 December 2022 1,455 Page 17 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 Debtors: amounts falling due within one year 2023 2022 other debtors Prepayments and accrued income 235,387 68,156 330,387 41,550 303,543 371,937 10. Creditors: amounts falling due within one year 2023 2022 Taxation and social security Other creditors 20 4,380 258 3,660 4,400 3,918 11. Movement in funds Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 385,122 (79,592) 11,827 317,357 Restricted funds Donations and legacies 65,861 (43,605) (11,827) 10,429 TOTAL FUNDS 450,983 (123.197) 327,786 Net movement in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds General fund 120,595 (200,187) (79,592) Restricted funds Donations and legacies 1,475,809 (1,519,414) (43,605) TOTAL FUNDS 1,596,404 (1,719,601) (123,197) Page 18 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 11. Movement in funds - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 294.738 57,775 32,609 385,122 Restricted funds Donations and legacies 261,556 (163,086) {32,609) 65,861 TOTAL FUNDS 556,294 (105,311) 450,983 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources Movement expended in funds Unrestricted funds General fund 285,094 (227,319) 57.775 Restricted funds Donations and legacies 1,233,464 (1,396,550) (163,086) TOTAL FUNDS 1,518,558 (1,623,869) (105,311) Purpose of UnrestTlCted Funds General Fund Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. This fund are used for various administrative and support activities. Purpose of Restricted Funds Lillah, Zakat and Sadqah Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restriction arise when specified by donor or when funds are raised for particular restricted purposes. Zakat and Sadqah is used for charitable activity to help and support poor and needy people eligible for Zakat and Sadqah. Page 19 continued...
MUSLIM WELFARE INSTITUTE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 12. Related party disclosures There were no related paty transactions for the year ended 31 December 2023. Page 20