CHARITY REGISTRATION NUMBER: 1069987 ASIAN MUSLIM CULTURAL ASSOCIATION Unaudited Financial Statements Year Ended 31 March 2024
ASIAN MUSLIM CULTURAL ASSOCIATION Flnanclal Statement5 Year ended 31st March 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 11
ASIAN MUSLIM CULTURAL ASSOCIATION Trustees, Annual Report Year ended 31st March 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrative detai15 Registered charity name: ASIAN MUSLIM CULTURAL ASSOCIATION Charlty registratlon number: 1069987 Prlncipal office and registered office: 145 Shadwell Place London EI 2QB The Trustees: Mr Mohammed Abdul Shahid- Chairman Mr Ana Miah- Trustee Mr Kazi Mohammad Gous Miah- Trustee Mr Mohammed Jewel Ahmed -Trustee Mr Mohammad Abdul Kalam- Trustee The trustees for the purposes of charity law, have complied with the duty in section 4 of th Charities Act 2006 to have due regard to public benefit guidance published by the Commisslon. Charity Secretary Mr Abdul Mushahid Kadir- General Secretsry Mahbub Murshed AFA 388-390, Romford Road E7 8BS Independent Examlner Structurei governance and management Governing Document The charity is constituted as an unincorporated association, and its objects and regulations gre governed by the constitution adopted in 1994. Appointment of trustees All members are requested to send nominations of trustees prior to the election day and ar informed of the outgoing trustees. Voting is by ballot and is supervised by three independent commissioners appointed by the board. The trustees are eligible, in committee, to adopt additional trustees under the terms of the constitution.
Trustee induction and training New trustees are briefed on their legal obligation under charity and trustee deed, the committee and decision-making processes and recent financial plan of the charity. This ensures that new trustees are aware of the scope of their responsibilities Organisation The board of trustees administer the charity. The board meets regularly and is assisted by management committee which is elected by members to assist the board in day-to-day operations covering religious functions, education of all age groups, supervising maintenance and renovation work, collection of funds and other matters arisin8 from time to time. All the trustees and the management committee give their time freely and receive no remuneratipn or other fina ncial benef its. Risk Management The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and steps have been taken to address those risks as follows: l) Health and safety discussion at Board Meetings. 2) Financial policies and cash flow discussions with the bankers and frequent discussions with members. 3) Security and protection of property, staff, volunteers, students and congregation with the police, security firm, and insurance brokers. Objectives and activities The Charity's object and its principal actlvlty continues to be that of to provide educational and cultural facilities to the young and adults Muslims of Shadwell and its surroundings. To achieve these objectives, the charity seeks charitable donations and grants from the public and various i nstitutions. Achlevements and performance The Asian Muslim Cultural Association (AMCA) is a mosque and a community based cultural organisation. It works for the development of members of the local Muslim community. During the year the development was satisfactory. Islamic teachings are available in the mosque. The mosque offers five daily prayers along with the two Eid prayers with a capacity of 450 participants in each. The organisation runs Children's Quran Classes that focuses on guiding and teaching young people up to the age of 16. Along with these regular classes we also run Arabic Language studies as part of teaching a modern foreign language (MFL).
We arrange discussi¢]n meetings on drug awareness, health issues and race relations. In addition, AMCA also arranges workshops for parents where they meet with teachers to discuss their child's progres5 and other valuable topics such as community cohesion. AMCA has introduced a Hifz class to help in memorising the Holy Quran from this year whièh runs on weekdays. The Hifz course is structured to allow pupils to complete the memorisation of the entire Quran without compromising progress and attainment in other areas of study The trustees consider the performance of the Charity this year has been satisfactory. Financial review The net income during the year amounted to £55,262 (2023: £42,315) following appeals to raise funds for the general upkeep of the mosque. Costs were contained within budget. The trustees consider the financial position of the Charity, as shown in the Financial Statements, to be satisfactory. Plans for future periods The aims of AMCA include: To connect students to authentic Islamic teachings; to build an augment Islamic knowledge so as to understand how to live Islam practically. to enable a positive atmosphere conductive to productive learning and development,. to increase student's love of Allah and His Messenger,. to inspire students to embody the teachings of Islam and to be productive community role models; and to instil confidence in our users to respect others and their environments. There are also plans to develop programmes with wider community and other organisations as the trustees place great importance on sharing a good understanding of Islam with others whilst gaining an understanding of other cultures and traditions. The trustees, annual report was approved on trustees by: and signed on behalf of the boar Mr Abdul Mushahid Kadir General Secretary
ASIAN MUSLIM CULTURAL ASSOCIATION Trustees, Report Year ended 31st March 2024 Trustees, Responslbllltles and basls of report The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards ( GAAP). In preparing these flnancial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently• Observe the methods and principles in the Charities SORP 2015 (FRS 102) Make judgements and estimates that are reasonable and prudent; stste 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 operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financlal position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts an 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. Independent examiner's statement Mahbub Murshed AFA of Mahbub & Co Accountants Ltd were appointed as the independeot examiner for the year ended 31st March 2024. The report has been prepared in accordance with the statement of Recommended Practice: Accounting and Reporting by Charities (20111. The report was approved by the trustees on .and signed on behalf of the board of trustee Mr Abdul Mushahid Kadir General Secretary
ASIAN MUSLIM CULTURAL ASSOCIATION INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ASIAN MUSLIM CULTURAL ASSOCIATION FOR THE YEAR ENDED 315T MARCH 2024 I report to the trustees on my examination of the financial statements of ASIAN MUSLIM CULTURAL ASSOCIATION for the year ended 31st March 2024. Responsibilities and basis of report As the trustees of the company (and also Its directors for the purposes of company law) yoy are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 7011 {'the 2011 ACV). In carrying out my examination I have followed the Directions given by the, Charity Commission under section 14515){b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or 4. the financial Statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting.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 have no concerns and have come across no other matters in connection with the examinotion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mahb urshed AFA, FMAAT,ICPA(FELLOW) Independent Examiner 388-390, Romford Road London, E7 8BS 23.04. ZOZ
ASIAN MUSLIM CULTURAL ASSOCIATION Statement of Flnancial Actlvltles (includlng income and expenditure account) Year ended 31st March 2024 2024 202 Unrestricted Restricted Fund Fund Total Funds Total Funds Note Income and endowments Donations and legacies 4 Govt Grant 102,142 102,142 79,3é6 Total income 102,142 102,142 79,386 Expenditure Expenditure on raising funds: Costs of raising donations and legacies Governance & Support costs 7 Total expenditure 42,381 4,499 42,381 4,499 31, 12 5,959 Net income Other recognised gains and10sses Net movement In funds Reconciliation of funds Total funds brought forward Total funds carried forward 55,262 55,262 42,315 632 225 687 487 632 225 589 910 632 225 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
ASIAN MUSLIM CULTURAL ASSOCIATION Balance Sheet For the year ended 31 March 2024 2024 2023 Note Flxed assets Tangible fixed assets Total fixed assets 655,464 655.464 626,181 626,181 Current assets Debtors Cash at bank 79,710 54,27 Credltors.. amounts falling due withln one year Other creditors including taxation and social security Accruals and deferred income 10 2,087 600 2,026 1,20 Total creditors Net current assets Creditors: amounts falling due more than one year Qa rd-e-hasa na 10 45,000 45,000 Total assets less current Ilabilities Net assets Funds of the charlty Unrestricted funds general Restricted Funds 12 687,487 632,225 Total funds 687 487 632 225 10
ASIAN MUSLIM CULTURAL ASSOCIATION Balance Sheet (continued) These financial statements were approved by the board of trustees and authorised for issu¢ on and are signed on behalf of the board by: Mr Abdul Musahid Kadir General Secretary 11
ASIAN MUSLIM CULTURAL ASSOCIATION Notes to the Financial Statements Year ended 31st March 2024 l. General information The charity is a public benefit entity and an unincorporated organisation. 2. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable In the UK and the Republic of Ireland,, the 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) {Charitles SORP IFRS 102)). Accounting pollcles Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by th revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's abillty to continue. Disclosure exemptlons No cash flow statement has been presented for the company. Judgements and key sources of estimatlon 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. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on t eir expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 12
Incoming resources All incoming resources are included in the statement of financial activlties when entitlement has passed to the charity," it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The followin specific policies are applied to particular categorles of income: income from donations o grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt Is probable and entitlement is established. income from donated goods Is measured at the fair value the goods unless this is impractical to measure reliably, in which case the value is derived the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particul purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure include VAT which cannot be fully recovered, and is classifled under headings of the statement of fi nancia l activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activlty. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. rom any Tangible assets leasehold Property is not depreciated as it is maintained to such a standard that the estima residual value is not li kely to be less than the cost. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures and Fittings 15Yo Straight line Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fajr value. If fair value cannot be reliably measured, assets are measured at Cost less impairment. 13
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property Investment property is Initially recorded at cost, which includes purchase price and any dirpctly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of Impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash- generating unit IS the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefil from the synergies of the combination, irrespective of whether other assets or liabilities of',the charity are assigned to those units. Financlal Instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are Initially recognise¢ at the amount receivable or parable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Defined contribution plans Contributions to defined contributlon plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured discounted present value basis. The unwinding of the discount is recognised as an expense the period in which it arises. 14
Donations and legacies Unrestricted Fund Total funds 2024 Unrestricted Fund Total funds 2023 Donations Appeals & donations Membership & nomination fees 102,142 102,142 79,386 79,386 102,142 102,142 79,386 79,386 Charitable activities Unrestricted Fund Total funds 2024 Unrestricted Fund Total funds 2023 Fees for educational activities 15
Charitable Activities Costs: Restricted Fund Unrestrlcted Fund 2024 Total Fund 2024 Tota 2023 Wages 23,573 23,573 23,573 Pension costs Water & rates 797 797 797 Repair & maintenance 3,107 3,107 ,107 Light & heat 3,175 3,175 ,175 Sundries Bonus Telephone 460 460 460 Events and Refreshment 31,112 31,112 31,112 Governance /Support costs: Bank Charge 309 309 309 Accountancy 600 600 600 Depreciation 3,875 3,875 3,875 Printing & Stationery 1,175 1,175 1,175 5,959 5,959 5,959 16