Charity number: 1068567 The Islamic Academy of Manchester Trustee's report and financial statements for the year ended 31 December 2023
The Islamic Academy of Manchester Contents Page Legal and administrative information Trustees report Independenl examiners, report Statemeni of financial activities Balance sheet Notes to the financial statements 7.10
The Islamic Academy of Manchester Legal and adminlstrative inforntIon Charity number 1068567 Business addre 347-349 Stockport Road Manchesier M130LF Trustee Atif Hamid Mohammed Riaz Akhiar Mohammad Farooq Accountants Nabaile Young UK Ltd 334 Slade Lane Manchesier M19 2BL Bankers HSBC Bank 2-4 Si. Ann's Square Manchester M2 7HD Natwest Bank 437 Wilmslow Road Wiihingion Manchester M20 4AJ Page I
The Islamic Academy of Manchester Report of the trustee for the year ended 31 December 2023 The trnstee presents his report and the financial statements for the year ended 31 December 2023. The trustees who served during the year and up io the date of this repori are sei oui on page l. Structure? governance and management The Chariiy is constituted under 1998 constitution registered with the Charities Commission under Number 1068567. The Trustees have responsibility for the overall m(Inagemenl and operation of the Lhariiy. Objectlves and actfivltles Objeclives and aims The Is14imiL A¢<idemy run8 dnd manages Ciiy Jamia Ma.8jid, a musque close lo the cily centre of Manchesler which is operad by The Islamic Academy of Manchester. The mosque is operational tor daily prayers and holds a number of classes and aclivilies for &idulis and children. Achievements and perforniance Charilable aclivifies Our charity has been an uptake in activities and attendance and charitable donaiions remain steady enabling ongoing project.% to progress. We continue to wL)rk in pariner8hip with a number of other organi5ations and charities in line wiih Ihe needs of the local community. We have continued to improve the facilities and infrasiruclure of the organisalion for the beneficiaries, for example, with inslallation of perimeter fencing and gales of Ihe mosque. By (he end of December 2023, a new ChItect was appointed lo progress oulslanding issues on Ihe upper floor of the main mosque building with Building Control. This wa5 further lo recommendations from fire straiegy experts based on work conducted in 2022. Conslruction of the community centre adjacent 10 the mosque progressed to inlemal works wilh a projecled compleuon dale of Winter 2024. Financlal revlew Reserve policy Over ihe next 12 months, we expecl to make further progre55 with the internal and external works and are aiming to implement a nurnber of initiative.8 for the youth and vulnerable in our cotnmunity. Page 2
The Islamic Academy of Manchester Report of the tnjstee for the year ended 31 December 2023 Statement of trustees, responsibilities The trusiees are responsible for preparing the Trustee8' Annual Report and the financial staiemenl.s in dLLordance with appli¢able law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practice). Law applicable to chariiies in England and Wales requires the trustees to prepare financial statements for each financial Ye which give a true and fair view of charity and of the incoming resources and applicaiion of resources of the charity for that year. In preparing these financial statements the trustees are required to,. select ?iUitable accounting policies and then apply them con8lStently- observe the meihod.s and principles in the Charities SORP; make judgements and estimates that are re&sonable and prudent. State whether applicable UK Accounting Siandards have been followed, subject 10 any material departures disclosed and explained in (he financial slatemenls; and prepare Ihe financial statements on the going concern basis unless it is inappropriate to presume that the charity will conlinue in operation. The trustee% are re%ponsible for keeping proper accounting records which disclose with reasonable accuracy at any time Ihe financidl position of the charity and ei)able them to ensure ihat the financial staiemenis comply with the Churitie.% Act 1993 and the Charily (AL'count% and Reports) Reguldlion8 2008. They are al80 responsible for safeguarding the assets of the charity and hence lor laking reasonable steps I'or the prevention and deteciion of fraud and other On beha ftheb Atit Hamid Trnstee Page 3
The Islamic Academy of Manchester Independent examiner's report to the trustees on the unaudited financial statements of The Islamic Academy of Manchester. I report on the accounts of The 151amic Academy of Manchester for the year ended 31 December 2023 set out on pages 2 to 10, Respective responsibilities of trustees and independent examiner A5 the ¢harÈiy's Irustee5 YOU lire responsible for (he preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply and that an independent exiimindtion is needed. It is my responsibility to examine ihe accounts under section 43(3)(a) of ihe Act, lo follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act. and 10 state whether particular matters have come to my attention. Basis of independent examiner's statement My exInalI0n was carried uul in accordance with the General Directions given by the Charity Commission. An examinaiion includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes Consideration of any unusual item8 or disclosures in the accounts, and seeking explanations from you as Irusiees concerning any such matters. The procedures undertaken do not provide all the evidence thai would b¢ required in an audit. and consequently I do noi expres% an audii opinion on che view given by the Accounts. Independent examlner's statement In connection with my examination, no matter has come to my attention., (i) which give4 me re&%onable Cause lo believe ihal in any material respect the requirernents.. lo keep proper accouniing records in dccordance with .seclion 4101. the Act; and to prepare accounis which accord with the uccounling records and lo comply wilh the accounting requirements of the Act have not been met: or (li) to which, in my opinion, atieniion should be drawn in order to enable a proper understanding of the accounts be reached. Nabaile Young UK Ltd Independent examiner 334 Slade Lane Manchester United Kingdom M19 2BL Page 4
The Islamic Academy of Manchester Statement of financial actAvities For the year ended 31 December 2023 Unrestricted funds 2023 Total 2022 Tolal Notes Incoming resources Incoming resources from generating funds: Voluntary income 171,108 171.108 144.430 Total incoming resources 171.108 171,108 144,430 Resource5 expended Purchases Siatf costs Establishment costs Moior and travelling expenses Legal and professional fees Communications and IT Other office expenses Office %lalionery Inieresl p(iyable and 8imilar charges Deprecialion dnd irnpairmeni Total resources expended 11.686 18,540 25,652 2.272 3,480 5.948 463 1.849 1,517 4,825 11,686 18.540 25,652 2,272 3,480 5,948 463 1.849 1,517 4,825 29.995 19,367 24,222 3,505 271 2.537 637 1,297 1,888 5,712 76.232 76,232 89,431 Total funds brought forward Total funds carrled forward 1.420,421 1,420,421 1,270,548 1,515,297 1.515,297 1,325.547 The notes on pages 7 to 10 form an integral part of these financial statements. Page 5
The Islamic Academy of Manchester Balance sheet as at 31 December 2023 2023 2022 Notes Flxed assets Tangible asseis Current assets Debiurs Cash at bank and in hand 1,373.742 1.269.304 3,693 81,442 3.560 111.457 85,135 115,017 Creditors: amounts falling due within one year (2.456) (2,426) Net current assets 82,679 112.591 Total assets less current Ilabilities Creditors: amounts falllng due after more than one year 1,456.421 1,381,895 (36.000) (56,348) Net assets ,420,421 1.325,547 Funds Unrestricted income funds 1,420,421 1.325.547 Toial funds 1,420,421 1.325.547 The financial stalements. were approved by ihe trUSe on and signed on its behaifby Ham rustee The notes on pages 7 to 10 form an integral part of these financial statement& Page 6
The Islamic Academy of Manchester Notes to financial statements for the year ended 31 December 2023 Accounting policies The principal accounting policies are surnmarised below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. Basis of accounting The financial statements are prepared under the historical cosi conveniion and in accordance with the Statemeni of Recommended Practice 'Accounting <tnd Reporting by Charities, issued in March 2005 (SORP 2005) and the Charilies Act 1993. 1.2. Incomlng resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with rea80nable accuracy. The following specific policies are applied to particular calegories of income: Voluntary income is received by way of grants, donations and gifts and is included in full An the sialement of rinancial activities when receivable. Grants where entitlement is not conditional on the delivery of a speciflc performance by the charity. are recognised when the charity becomes unconditionally enliiled to the grant. Donated %ervices and facilitie8 are included al the value to the Lharity where this can be quantified. The value of .servi¢es provided by volunieers has noi been included. Girls donated for resale are included as incoming resources within activitie8 For generating funds when they are sold, 1.3. Resources expended Expenditure is re¢ognised on an accrual basis as a liability is incurred. ExpendilU includes any VAT which annot be fully recovered, and 15 reported as part of the expenditure 10 which it rellltes. Costs of generating funds comprise the costs &$80clad with attracting voluntary income and the cost% of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises Ih05e costs incurred by the charity in the delivery of its activities and .8ervices for its beneficiaries. It includes both ¢08ts that can be allocated directly io such activities and those costs of an indirect nature necessary 10 tyUPPOrt them. Fundraising costs are those incurred in seeking voluntary contributions and do nol include the c05t5 of disseminating inforn)ation in suppori of ihe charitable activities. Support cost5 are those costs IncUed directly in support of expenditure on the objects of the charity and include project management. IA. Tangible flxed assets and depreclation Tangible fixed assets are stated at cost le.4s accumulated depreciation. Depreciation 15 provided at rates C411culated to write oft the cost less residual value of each asset over its expected useful life, as follows: Land and building8 Fixtures, fittings And equipment Motor vehicles Not depreciated 15Wo Reducing balance 25% Reducing balance Page 7
The Islamic Academy of Manchester Notes to financlal statements for the year ended 31 December 2023 13. Defined contribution penslon schemes The pension cosis charged in the financial statements represent the contribution payable by the charity during the year. Vojunlary income Unrestricted funds 2023 Total 2022 Total Donations Friday collecltons Funeral Income 105,372 48.924 16,812 105,372 48,924 16,812 62,949 60.121 21.360 171,108 171.108 144,430 Employees Employment costs 2023 2022 Wage.% dnd salaries Pension cosLS 18.000 540 18.827 540 18.540 19,367 No employee received emoluments of more than £60.000 (2022 .. None). Number of employees The average monthly numbers of employees during ihe year, calculated on the basis of full lime equivalents, was as follows.. 2023 Number 2022 Number Admin Penslon costs The company operates a defined c(7ntribution pension scheme in respect of the IENTER DETAILS HERE]. The scheme and ils assets are held by independent managers. The pension charge represents contributions due from the company and was as follows: 2023 2022 Pension charge 540 540 Page 8
The Islamic Academy of Manchester Notes to flnancial statements for the year ended 31 December 2023 Land and Fixtures, buildings fittiDgs and freehold equipment Tangible fixed assets Motor Vehicles Total Cost At l January 2023 Addilion.s 1.237,736 109,264 95,143 8.310 1.341,189 109.264 At 31 December 2023 1,347,000 95.143 8,310 1.450,453 Depreclatlon At l January 2023 Charge for the year At 31 December 2023 71.885 4,826 64.478 4,600 7.407 226 76,711 69.078 7,633 Net book values At 3 l December 2023 1,347,(M)O 26.065 677 1,373,742 Ai 31 December 2022 1,237,736 30.665 903 1,269.304 Debtors 2023 2022 3.693 3,560 Other debtors Creditors: amounts falllng due withln one year 2023 2022 2,4.56 2,426 Other taxe8 and social securily Credltors: amounts falling due after more than one year 2023 2022 36,000 56,348 Karz e H&sna. Page 9
The Islamic Academy of Manchester Notes to financial statements for the year ended 31 December 2023 Analysis of net assets between funds Total funds Fund balances at 31 December 2023 as represented by: 10. Unrestricted funds At At 01 January 2013 Incomlng Outga11g)ecember 2013 2023 resources resuurles 2023 General Fund 1,325,547 171,108 (76,234) 1.420.421 Page 10