Chingford Islamic Society (Charlty registration number:1074602) Report and Accounts 31 March 2021 Chingford Islamic Society Charity Registration No: 1074602 Reference and administratlve detalls For the year ended 31 March 2021 Status and governing doGument Chingford Islamic Society is 8 charity that is constituted by constitution. Charity registration 1074602 Princlpal place of buslness 90-92 Chingford Mount Rd Chingford London E4 9AA Trustees Ismail Dadabhai Reshad Beekun Terminated on 02.12.2020 Ismail Chapti Terminated on 02.12.2020 Oomer Farook Dadabhoy Riaz Dadabhoy Terminated on 02.12.2020 Jhan Rasool Baksh Terminated on 02.12.2020 Suhail Dadabhoy Muhammad Esmail Mohammed Saad Banker Barclays Bank PIC Chingford Branch Independent Examiner of Accounts Jayson & Co Chartered Certified Accountants 4 Blenheim Avenue Gants Hill Essex IG2 6JG Chingford Islamic Soclety Charity Registration No: 1074602 Report of the Trustees for the year ended 31•t March 2021 The trustees present their report together with the accounts of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recomrnended Practice I SORP FRS 1021 and The Charities Acl 2011. The charily have referred to the guidance in the Charity C0￿mIssIon,S general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. In particular, Ihe trustees consider how planned activities will contribute to the aims and objectives set. Structure, GovernanGe and Management Governing document The charity is constituted by a constitution and registered wilh the Charity Commission under the charity number 1074602 Risk management The trustees are responsible for the management of risks faced by the charity. The trustees have undertaken a full risk assessment of the organisation and have introdutsd various key controls. These conlrols are reviewed annually. The trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognized that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. Charitable objects 1. To promote the Islamic ￿lIgIOn. 2. Advancing the education of children and young people by the provision of language classes and religious teaching. 3. The relief of poverty. sickness and distress among the Muslim communily in Chingford. Review of activities and public benefit The results for the year under review are as shown in the attached Financial Sialemenls. The charity runs a Madrassah during weekdays to teach Arabic and religious studies to young children in Chingford. The charity also runs classes in religious studies for adults to ensure they understand the values of Islam to promote peace and harmony within Ihe local community. The Masjid provides a place of worship to all Muslims in Chingford and neighbouring areas. The charity also provides rinancial help and moral support to deceased families. The above activities clearly demonstrate the charity has achieved its objectives set and the Muslim Chingford Islamlc Society Charity Registration No: 1074602 community and society at large are benefitting from the wide range of aclivitieslservices provided by the charity. Future Development In September 2020. the Charity was granted planning pemiission by the local council to open a learning hub on its property at number 90 Chingford Mounl Road which was bought by the charity in 2010. The building will require renovation for which funds will need to be raised. Upon completion, various community activities are planned such as older person's social events, Citizenship classes, Women's language classes. Homework club. Tuition classes. Youth programmes etc. Additionally, the property will provide a two-storey residence on the first and second floors. Reserves policy The charity receives donations from the local communty to fvnd all the above activities and sometimes organises fund raising events. Funds received for specific projects are posted lo the restricted funds and the charity applies Ihe reSoUr￿S in accordance with the rules relating to that specific fund. However, the trustees are 811owed to transfer the fund from specific funds to general fund in case where the charity could not find any relevant projects to finance, or it is not possible lo get a reliable organisation to monitor the projed. Accountlng and reporting responsibilities The Charities Act 2011 requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charily and of its result for that year. In preparin9 those financial statements the trustees should follow best practise and.. select suitable accounting policies and apply them consistently.. make judgement and estimates that are reasonable and prudent- 3. follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements- and prepare the financial statements on a going concem basis unless it is inappropriate lo assume that the charity will continue in operation: The truslees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial posilion of the charity and enable them to ensure that Ihe financial statements comply with the Charities Act 2011, The Charities SORP {FRS 102) and the provisions Chingford Islamic Society Charity Registration No: 1074602 of the constitution. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable sleps for the prevention and deteclion of fraud and other irregularities. Approved by order of the board. Dale.. 5" April 2022 Muhammad Treasurer Chingford Islamic Socigty Charity Re9i$tration No: 1074602 INDEPENDENT EXAMINER'S REPORT To the trustees of Chingford Islamic Society I report on the accounts ofthe charity for the year ended 31 March 2021. which are sel out on pages 7t0 11. Rospectivg responsibilities of trustoes and 8xaminer The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 14412} of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of Ihe Charities Acl 2011 to follow the procedures laid down in the General Directions given by the Charity Commission under section 14515)Ibl of the Act- and to state whether particular matters have come to my attention. Basis of independent examinerfs statement My exarnination was carried out in accordance with the General Direclions by the Charity Commission. An examination 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 items or disclosures in the accounts and seeking explanations 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 no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters sel oul in the statement. Independent examiner's statement In connection with my examination. no matter has come to my attention.. 1 } which gives ffle reasonable cause to believe that. in any material respect, the requirements.. a) to keep accounting records in accordance with section 130 of the 2011 Act., and b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2011 and SORP (FRS 1021 have not been met. or 21 to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Chingford Islamic Society Charity Registration No: 1074602 l. Ramgoolam Jayson & Co Chartered Certified Accountants 4 Blenheim Avenue Gants Hill, Essex, IG2 6JG Oate:.... Chingford Islamic Society Charity Reglstration No: 1074602 Statement of financSal actlvltles For tho year gndod 31 March 2021 Notes Restricted Funds Unrestricted Funds Total Funds 2021 Total Funds 2020 Incomlng resources Donations & gifts Other Income Rental Income Madrassah fees 15.212 15,212 42.661 30 9,800 27,959 80.449 1,100 17,887 34,199 1.100 17.887 34.199 Resources expended charitable expenditure Salaries & wages Waste management & cleaning Consultancy fees Donations to other charities General expenses Bank charges & commissions Printing, postage & stationery IT expensès 60.663 469 60,663 469 58,913 3,559 5.400 2,424 114 245 5,400 2,424 114 245 5,820 1,800 246 282 24 24 34 195 5.063 3.535 750 971 1.092 3,535 750 971 1,092 Accountsncy fees Insurance Repairs & maintenance Pension contributions Subscflptions Telephone & internet Depreciatson 898 1,400 314 314 222 528 8,847 528 8.847 375 Total resources expended 85.381 85.381 79,089 Net Idgficitllsurplus resources 151.182) 151,1821 1,360 Net movements in funds Total funds at 01.04.20 542,159 542, 159 540,799 Toial fvn¢J5 at 31.03.21 490,977 490977 542, 159 Chlngford151amlc Society Charlty Registration No: 1074602 Balance sheet as at 31 March 2021 Notes 2021 2020 Tangible fixed assets 433,484 442.331 Current assets Debtors - Prepayments Bank and cash balances 1.928 76.229 78,157 198 102.237 102,435 Creditors.. Amounts falling due within one year 120,664) 12,5871 Net current assets 57,493 99,848 Total net assets 490.977 542,179 Funds.. Income funds Restricte Unreslricle 490,977 542,179 Total funds 490,977 542,179 Approved by the board Date: Muhammad Treasurer Chlngford Islamic Society Charity Registration No.. 1074602 Notes forming part of the financial statements For the year ended 31 March 2021 1. Principal accounting polieiès The financial slalements of the Trust have been prepared in accordance with the Statements of Recommended Practice ISORP- FRS 102) iSSLAed in October 2019, the Charities Act 2011 and applicable UK GAAP. The accounts have been prepared on the basis of historic cost and as a going concern. a) Donations and fund a¢counting Donations re￿iVed for the general purposes of the Trust are included as unreslricled funds. Donations received for the purpose of educating persons in need and orphans,. relieving poverty. sickness and distress caused by natural disasters. wars and wnflicts are taken to restricted funds. Restricted funds are to be used for the specific purposes as laid down by the donor. All donations are accounted for as and when received by the charity. b) Resources expended Resources expended are accounted for on an accrual basis. The irrecoverable element of VAT is included with the item of expense to which it relates. Resources expended are allocated to the particular activity where the cost relates directly to that activity- However. the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function is norrnally apportioned on the basis of staff time and amount attributable to each activity- All resources were spent on activities relating to unrestricted fund in the Cu￿ent year. cl Depreciation Depreciation of tangible fixed assets is provided on straight line basis over the expected useful lives of the assets as follows-. Freehold building 2Yo on cost d) Foreign currencies Transactions denominated in fO￿Ign currencies are translated into sterling al the average rate of exchange for the year. Monetary assets and liabilities in foreign currencies are translated hlngford Islamic Society Charity Registration No: 1074602 into sterling at rates of exchange ruling at the end of the financial year. Al exchange differences are taken into accounts in atriving at the net incoming resources for the year. Ineomlng resources 2. Voluntary donations Restrlcted Unrestricted Total 2021 Total 2020 General fund 34,199 34,199 80.449 34,199 34,199 80,449 3. Net incoming resources for the year Nel incoming resources for the year is stated after charging 2021 2020 Depreciation Independent examiners. fees 8,847 750 4. Tangible Fixed Assets This consists of the two properties owned by Ihe charity. namely 90 and 92 Chingford Mount Road, London E4 98N. At Cost Land & Building Total Balance at 01.04.2020 442.331 442,331 Balance at 31.03.2021 442,331 442,331 Depreciation Balance at 01.04.2020 Charge for the year 8,847 8,847 Balance at 31.03.2021 8,847 8.847 10 Chlngford Islamic Society Charity Registration No: 1074602 Net book value As at 31 March 2021 433,484 433,484 As at 31 March 2020 442.331 442,331 5. Creditors: Amounts falling due within one year 2021 2020 Accruals Wages, other taxes and social security Other creditors 3,744 16,920 1,777 760 50 20,664 2,587 6. General Fund Balance as at 01.04.2020 542.179 Deficit 151,1821 Balance as at 31.03.2021 490,997 7. Employees 2021 2020 Number of employees 8. Related parties transacllons No trustees or their c105e relatives have been paid any remuneration during the year under review.