Charity Number: 1070735 MASJID AND MADRASAH AL-TAWHll) TRUST li Tr￿sleeS, Report and Financial Statements For the year ended 31 December 2023 Masjid and Madrasah Al-Tawhid Trust Contents Page Legal and Administrative Inforn￿tiOn Report of the Trustees Statement of Trnstees responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Finaneial Statements 9-13 Detail Slatement of Financial Activities 15 Masjid and Madrasah Al.Tawhid Trust Legal and administrative inform2tion Charity number 1070735 Registered office 80 High Road I£yton London E15 2BP Trustees Sheraz Ahmed - Chairn]an Mohammed Idrees Sethi - Vice chairman Mohamed Patel Mehmud Patel Sadiya Shaikh - Secretary Yusuf Paiel - Treasurer Gulam Hussein Seedat Rizwan Ahmed No.8heen Farooq Mohammad Waheed Farooq Mustafa Idrees Shakeel Ahrned Kunwar Independent examiner Young & Co Accountants Ltd Chartered Certified Accountants & Auditors 160c Fencepiece Road London, IG6 2LB Bankers Bdiclays Bank plc Masjid and Madras2h Al.Tawhid Trust Report of the trustees For the year ended 31 December 2023 The trustees present their report and the financial slatements for the year ended 31 December 2023. The trustees who served during the year and up to the date of this report are set out on page 3. Structure? governance and management Masjid and Madrasah Al-Tawhid Trust is registered with Ihe ch￿ltY conllnission (Registration Number 1070735) and conslituted by the deed of crust. The charity takes into account experience, qualifications and dedication to charitable causes when recruiting and appointing new trustees. The charity provides ongoing training for its trustees. Risk management The trustees have assessed the major risks to which the charity is exposed to and are satisfied that systems are in place tu mitigate exw)sure to th¢s¢ rÉsks. Objective and activities Masjid and Madrasah Al-Tawhid is a non-political. religious organisation established in 1998. It is an independent charity with religious lind education aclivities catering primarily to the Muslims in the l£>ndon Borough of Waltham Forest. The Trust's activities for the year can be summarised as.. daily congregational prdyers, Friday 5ennon.s, celebrating the two Eid prayers, holds regular Islamic Iccturcs. evening school for the children aged 5 to 15 from Monday to Friday. Funeral prayers are performed whcnever required. Youth club activiti¢s for boys and girls including football basketball 5elf-defense and karate classes for young boys are undertaken on a regular basis. The trust holds organizes a weekly foodbank at Mosque premises providing basic foods to local residents in hardship. also Provides 5UPPOrt for the humanitarian relief by way of collecting Zakat and Zakatul Fitr money (Obligatory Ch￿lty) from congregation and pass it to the people in need directly or using other reputable charlties. Every year the trust provides Iftaar food and full meal a5 well in l&st ten days of Ramadan. It is the policy of the charity to maintain unrestricted funds, which are the free resetves of the ch￿lty. at d level which provide5 suffjcient ￿ndS to cover management. administration and support costs. Masjid and Madrasah Al-Tawhid Trust Statement of trustees, responsibilities For the year ended 31 December 2023 The tnjstees are responsible for preparing the trustees. AnnuaI Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Praclice). Law applicable to charities in Engldnd and Wales required the trustees to prepare financial ststcments for each financial year which give a true and fair view of charity and of the incorning resources and application of resources of the charity for that year. In prepating these financial slalemenls the trustees are required to.. select suitable a¢counting policies and then apply them consistently. - observe the methods and principles in the Charities SORP: - make judgements and estimates that are reasonable and prudent; statc whcther applicable UK Aecounling Standards have becn followed, subject ¢0 any material departures disclosed and explained in the fll)ancial statements. and 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 which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financiMI staEemcnts comply with the Chariiies Act 1993 and the Charity {Accounts and Reports) Regulation5 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps tor the prevention and detection of fraud and other irregularities. On behalf of the b02wd Sheraz Ahmed Chairman Date: Independent Examiner's Report To the Trustees, of Masjid and Madrasah Al-Tawhid Trust W¢ report on the accounts of the Trnst for the year ended 3 Isr December 2023 Respective responsibilities of Tr￿SteeS and Examiner The charity, s t￿SteeS are responsible for the preparation of the accounts. The Trustees of the charity considered that an audit is not required for this year under section 43(2) of the Charities Act 1993 and that an independent examination is needed. It is our responsibility to.. Examine the accounts under section 43(3)(a) of the Charities Act 1993 To follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Charities Act 1993 To stale whether particulars matters have come to my attention Basis of Examiner's Slatement OUT examination was carried out in accordance with the General Directions by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently we do not express an audit opinion on the accounts. Independent Examiner's Statement In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that, in any material respect, the requirement.. To keep accounting records in accordance with section 41 of the 1993Act- and To prepare accounts which accord with the accounting records and lo comply with the accounting requirements of the 1993 Act have been met. No matter has come to our attention in connection with our examination to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Young & Co Accountants Ltd Chartered Certified Accountants & Auditors 160c Fencepiece Road London. IG6 2LB Date: 1910812024 Masjid #nd Madrasah Al-Tawhid Trust Statement of financial activities For the year ended 31 December 2023 Unrestricted Rostrieted funds £ funds £ 2023 2022 Notes Incoming resourcos Incoming resources from generating funds.. Voluntary income Investment income Other incoming resources Total incoming resources 361,362 6,183 17,302 378,664 6,183 301,108 516 367.545 17.302 384,847 301.624 Resources expended Charitable activities Total resources expended 284,395 284,385 284,395 284,395 300,432 300.432 Net movement in funds 83,150 100,452 1,192 Total funds brought fonvard Total funds carried forward 1,644,359 1.727,509 18,958 36,260 1,663.317 1.662,125 1,763,769 1,663.317 The statement of financial activitie5 includes all gains and losses in the year and therefore a separa statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. Masjid and Madrasah Al-Tawhid Trust Balance Sheet As at 31" December 2023 Notes 2023 2022 Fixed assets Tangible assets Current assets Cash at bank and in hand 1,496.530 1,539,598 708,158 562,089 Creditors: amounts falling due within one year (5,099) (2,550) Net current assets 703,059 559,539 Total assets less current liabilities 2,199,589 2,099,137 Creditors: amounts falling due after more than one year (5.000) (5,000) Net assets 2,194,589 2,094,137 Funds Restricted income funds Unrestricted income funds Revaluation Reserve io 14.709 1,763,769 416,111 14,709 1,663,317 416.111 11 Total funds 2,194,589 2,094,137 The financial statements were approved by the tru5t¢es on 31 August 2023 and signed on its IKhalf by On behalf of ihe board Mehmud Pa Trustee Masjid and Madrasah Al-Tawhid Trust Notes to the Financial Statements For the year ended 31st December 2023 Accounting policies The principal accounting pol&eies a￿ summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. Basis of accounting The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounung and Reporting by Charities. issued in March 21K)5 (SORP 2005) and ihe Charities Act 1993. Cash flow The charity has taken advantage of the exemption in FRSI from the requirements to produce a eash flow stdtemenc because it is small Charity- Incoming resources All incoming resour¢es are included in the statement of financial activities when the Charity is entided to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied lo particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in full in the staiemenl of fjndncidl activitieb when receivable. Granis whcie entitlcment is not conditional on the delivery of ¢1 specific perforniance by the charity are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of servlces provided by volunteers has not been included. Income frotn investments is included in th¢ year in which it is receivable. Masjid and Madrasah Al-Tawbid Trust Notes to the financial statements For the year ended 31 December 2023 Resourees expended Expenditure is recogni5ed ovk an accrual basis as a liability is incurred. Ex￿ndItUre includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which il relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of Irading for fundraising pury)oses including the charity's shop. Charitable expendicure comprises those costs in¢urred by the charity in the delivery of its activities and services for its beneficiaries. It include5 both costs that Can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs incuned directly in support of expenditure on the objects of the charity and include projcct management. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost les5 residual value of each asset over i(5 expect useful life, as follows: Freehold land is not depreciated Freehold buildings Fixtures, fittings and equipment - Straight line 25% Reducing Balance Voluntary income Unrestricted Funds £ 2023 TotaI £ 2022 Total £ 278,045 Donations Mas id Income Friday Collection Masjid Fund5 Sadaqha 26.546 27,537 27,362 26,546 27,537 27,362 Mas id Rental Ineome Flal Rent Vodafone Mask Garage Rent 16,750 14,758 15.680 16.750 14,758 15,680 Continued on next page.... 10 Unrestricted 2023 id Hall Hire Funds £ 4,400 750 600 Total £ 4,400 750 600 Masjid Hiring Services Nikkah Funeral Setvice Mas id Other Income Calendar SalelSponsoTS Other Card Machine 2,260 73,598 93,676 2,260 73,598 93,676 Madrasah Service Income Madrasah Fees 64,285 64,285 Tolal 368 202 Investment income Unrestricted Funds £ 6,183 2023 Total £ 6.183 2022 Total £ 516 Bank interest receivable Other incoming resources Restricted Funds £ 2023 Total £ 2022 Total £ Donations received for orpbans Costs of charitable activities - by fund type Unrestricted Funds £ 368,202 2023 Total £ 368,202 2022 Total £ 282,150 Activities undertaken directly & support costs 11 Masjid 2nd Madrasah Al.Tawhid Trust Notes to the financial statements For the year ended 31 December 2023 Employees Employment costs 2023 2022 Wages and salaries Social security costs 94.135 84,366 94,135 55,654 7. Tangible Fixed Assets L8nd & building Fixtures, fittin&, Total Freehold £ & equipment £ Cost At l January 2023 Additions for the year 2,116,724 77,520 2,194,244 At 31 D¢cemb¢r 2023 2.116,724 77.520 2,194,244 Depreciation At l January 2023 Charge for the yeaT At 31 December 2023 580,064 42,334 622,398 74,582 734 75,316 654,646 43.068 697,714 Net book values At 31 December 2023 At 3 l December 2022 1,494,326 1,536,660 2,204 2,938 1,496,530 1,539,598 Creditors: Amounts falling due Ivithin one year 2023 2022 Other taxes and social security 5,099 2,550 5,099 1550 12 Masjid and Madrasah Al-T2whid Trust Notog to the financial statements For the year ended 31 December 2023 9. Creditors: Amounts falling due after more than one year 2023 2022 Interest free loan 5.000 10. Unrcstricted Funds At l January Incoming 2023 £ R&sourc&s £ Outgoing 31 December Resources £ 2023 £ General funds 1,663.317 384,847 (284,395) 1,763,769 Purposes of unrestricted funds General fund5 are used for day to day running of the charity. Restricted Funds At l January 2023 £ At 31 December 2023 £ Zakat Income 19,479 29,941 11. Revaluation Reserve Land & Buildings was revalued in the year 2013. The revaluation was done by an Independent Valuer for the Charity. 13 Masjid and Madrasah Al-Tawhid Trust The following page does not form part of the statutory accounts 14 Masjid and Madras2h Al-Tawhid Trust Detail Statement of financial activities For the year ended 31" December 2023 2023 2022 Incoming resources Donations 378,664 301,108 Investment ineome 6.183 516 Total incoming resources 384￿47 301,624 Charitable activities Staff - Wages & Salaries 94,135 84,366 Subconiraet Wages 41.233 26.365 Rat¢5 & water 214 2.440 Lighi & heat Repairs & maintenance 38,237 53.980 5.839 7.075 Insurdnce 4,449 4,227 Accountancy 900 Food 9,663 9.935 Wastage 2,653 2,448 Ev¢ntS 18,446 12,615 Madrasah supplies 3,535 665 Dues & subscriptions 443 789 Bank charges 4,448 2,977 Depreciatioll 43.068 43,313 Donation paid out 14.754 42,764 Telephone & ccrv expenses 546 721 Other Expenses 692 4,042 Printing, postag¢ & stationery Cleaning 1.140 260 1.450 Total resources expended 284,395 300A32 15