REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
WHITLEY BAY ISLAMIC CULTURAL CENTRE
WHITLEY BAY ISLAMIC CULTURAL CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 20 |
| Detailed Statement of Financial Activities | 21 to 22 |
WHITLEY BAY ISLAMIC CULTURAL CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 objectives of Whitley Bay Islamic Cultural Centre are to:-
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To provide the benefit of the community in North Tyneside without distinction of age, sex, political or other options by associating the Muslim people, the Local Authority and voluntary organisations in a common effort to advance education and provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life of the said people;
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To promote diversity, integration, and building relations with all communities through the establishment of the centre as an inclusive safe place for all;
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To educate,inform, understand and elucidate the teachings of Islam as a religion and all its principles in the North Tyneside area for the benefit of the public; through after school education of children, adult classes, public lectures and discussions with the aim to bring unity amongst people;
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To help and support ethnic minorities within the North Tyneside community; providing them a place to raise concerns, seek advice and speak freely of any difficulty they face.
In pursuance of these objectives the Charity hosts a range of services and activities for the benefit of the public.
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE Charitable activities
Youth Activities
This year we increased our focus to the youth, to provide activities in a safe environment for them to engage and indulge with, with the hopes that in future they will see the benefits of volunteering and charity work. We also hope this will help build a connection between the Charity and the future generation.
Prayer Facilities and Teaching
The Mosque is open to the public every day from 10am until 8/9pm. It is in some cases open almost 24 hours a day during the month of Ramadan where we see the most activity in the Mosque. The average weekly footfall for prayers is around 300 people, with Friday prayer over 200 people. The Friday sermon is delivered in English and recorded for sharing on the Charity's social media platforms. The Charity offers part-time education for children and young adults under-18 after school. The Academy currently has 70 children enrolled.
Health & Wellbeing
The Charity has launched initiatives aimed at promoting a healthy lifestyle within the community. We have maintained our partnership with North Tyneside Council and Active North Tyneside's Body Benefits programme, which now regularly attracts 10-20 women. The programme features a health discussion followed by a short exercise class offering a variety of activities such as HIIT and boxercise.
Women Swimming
In collaboration with North Tyneside Council we continue to offer free swimming sessions for Women now held bi-weekly. These sessions have seen consistent attendance, with between 30-50 women participating regularly and receiving overwhelmingly positive feedback..
Community Gym
In June 2023, we proudly opened a community gym within budget, now serving approximately 30 members. We've seen a greater number of women who've taken more interest in the Gym due to the women-only times available every day. It has become a vital revenue-generating facility for the centre. We also hosted an open day in partnership with other health organizations, emphasizing our focus on health and well-being. This event included discussions about Islam, our activities, and future goals, which were warmly received by the community.
Free Tennis Sessions: Promoting Active Lifestyles
In collaboration with Beverly Park Lawn Tennis Club, we organized free tennis sessions for men and women, encouraging physical activity and inclusivity within the community.
North Tyneside Together: Celebrating Diversity
For the first time, we showcased our work at the North Tyneside Together festival, a vibrant event celebrating multicultural diversity. Held on 31 August 2023, the festival featured live music, arts, food stalls, and cultural displays. Our stall allowed us to engage directly with local residents, sharing the positive impact of our activities and building stronger community connections in a welcoming and inclusive setting.
Toy Library
As part of the Academy the students have access to a weekly Toy Library where students can spend an hour having self-expression time with access to exciting toys and games.
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
ACTIVITIES
The Charity continued to host Open Days for local schools and organisations to help educate about Islam and the activities that we hold within the Islamic Centre. The Charity takes pride in having the facilities to accommodate large groups of students and provide education to the wider community.
We restarted several classes for both Adults and Young Adults throughout the year. These classes ranged from Islamic education, health education, academic support and general support sessions on mental health and wellbeing.
We offer a wide range of services for both Muslim and non-Muslim, often in partnership with other organisations. The Charity places great emphasis on establish good relationships with others in the wider community so that we can come together for the common good and help create a brighter future for our next generation.
The repair for the flat roof work has started and we have raised funds from within the community. We hope the roof repair will be completed next year and we'll have the ability to hire out the hall as an additional source of revenue.
Fundraising activities
In the years since the Charity began it has managed to raise over £649,684, from voluntary contributions and donations. This has allowed the charity to continue to carry out its activities.
In order to achieve its objectives the Charity needs to continue to acquire funds in the form of donations and voluntary contributions.
The charity has raised funds to acquire the freehold of the land from North Tyneside Council.
FINANCIAL REVIEW
Reserves policy
The directors have explored the charity's requirements for reserves in light of the main risks to the organisation. The aim is to build up unrestricted funds representing at least six months of the charity's normal expenditure (approx. £30,029). The reserves are needed to meet the working capital requirements of the charity in order to maintain the charity's current activities. The present level of unrestricted reserves available to the charity is £282,371 which represents the property value of £266,271 offset by interest free loans from the late Mr Abdul Hannan and his family of £142,437 therefore giving property reserves of £123,834. This leaves the charity with unrestricted reserves of £158,537 at the year end. The directors are also aware that the new building increases the level of normal expenditure and these increased costs will have to be met from the generation of funds from the community.
Transactions and financial position
The total incoming resources in the year were £105,273 all of which were unrestricted. The Statement of Financial Activities shows an unrestricted surplus for the year of £50,010 this is due to the grant support from North Tyneside Council.
As noted above, total unrestricted reserves at 31 March 2024 amounted to £282,371. These reserves are invested in the property value £266,271 after deduction of loans of £142,437 giving a net figure of £123,834, the property requires substantial renovation so a designated amount of £30,000 has been set aside for the ongoing repairs and maintenance together with the overheads reserve of £30,029 leaves the charity with free reserves of £98,508 at the Balance Sheet date.
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
PLANS FOR THE FUTURE
Governance and administration
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Continue to review policies and procedures to deliver a stronger governance structure.
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Establish a robust induction process and create an annual training programme for trustees
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Plan for succession of trustees and members, build capacity and improve processes to increase diversity, ensure a broad range of skills, and improve compliance.
Fundraising and income generation
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Build sustainable income for the Charity, to be less reliant upon public donations for day-to-day running of the Charity.
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Improve use of internet and social media streams through digital fundraising.
Projects and services
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Establish process for staff annual training and policies.
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Carry out review of the Charity's Islamic Academy.
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Provide health and wellbeing services for the public including the Gym.
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Build relationships between young people and the Charity.
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Find ways to offer social and recreational opportunities for young people.
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Enhance support for new Muslims.
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Find ways to provide services for the elderly.
Developing relationships
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Find ways to work with wider society.
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Provide courses and seminars that give a balanced and contextual understanding of Islam.
Assets and premises
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Continue refurbishment of the premises to enhance the appeal.
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Start hall renovations to allow public use for hire.
The Charity is working towards developing further activities which benefit both the Muslim community and the wider community - creating a truly integrated and vibrant centre for the neighbourhood.
It's hoped that this will allow the charity to arrange and extend its activities within the community to bring people together and to provide a place where people can meet and for residents to use.
Community consultation has shown specific needs and priorities for the local area and identified potential partners who we can work with to address these needs.
The charity also intends to continue its youth programmes including IT support for children and ESOL classes, and it will work with other partners to bring more activities to the centre and the neighbourhood, especially arts and sports, which are a high priority for local people. The charity also has excellent relationships with local schools and is becoming involved with them through helping with religious and cultural awareness and citizenship classes.
A further need identified was the provision of easily accessible childcare for young children and the charity is looking to convert part of the premises into a crèche to facilitate this.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Whitley Bay Islamic Cultural Centre was incorporated on 9 September 1998 as a company limited by guarantee governed by a Memorandum and Articles of Association and a registered Charity from 16 April 1999.
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
All Directors of the company are also Trustees of the Charity, and there are no other Trustees. The Trustees named have all served throughout the period. The Board has the power to appoint additional Trustees as it considers fit to do so. The Charity is organised so that the Trustees meet regularly to manage its affairs. The secretary deals with any administration duties to be performed.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03629093 (England and Wales)
Registered Charity number
1075136
Registered office
Rink Way Hillheads Road Whitley Bay Tyne and Wear NE25 8HR
Trustees
M U Hannan S Uddin M Ali M A Hannan S Hussain T A Hannan
Company Secretary
M U Hannan
Independent Examiner
Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
Bankers
Barclays Bank Plc 3 Northumberland Square North Shields Tyne and Wear NE30 1QX
Staff
A R Al Amin T S Chowdhury
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 16 December 2024 and signed on its behalf by:
M U Hannan - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WHITLEY BAY ISLAMIC CULTURAL CENTRE
Independent examiner's report to the trustees of Whitley Bay Islamic Cultural Centre ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicholas Liley FCA
Read, Milburn & Co North Shields
16 December 2024
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 63,431 Charitable activities 3 Grant income 5,821 Other income 36,021 Total 105,273 EXPENDITURE ON Charitable activities 4 Staff and support costs 13,908 Activities expenses and equipment 6,944 Premises and overhead costs 34,498 Total 55,350 NET INCOME/(EXPENDITURE) 49,923 Transfers between funds 16 87 Net movement in funds 50,010 RECONCILIATION OF FUNDS Total funds brought forward 232,361 TOTAL FUNDS CARRIED FORWARD 282,371 |
Restricted funds £ - - - - - 2,708 2,000 4,708 (4,708) (87) (4,795) 12,445 7,650 |
2024 Total funds £ 63,431 5,821 36,021 105,273 13,908 9,652 36,498 60,058 45,215 - 45,215 244,806 290,021 |
2023 Total funds £ 55,012 37,754 23,571 116,337 25,805 8,230 51,809 85,844 30,493 - 30,493 214,313 244,806 |
|---|---|---|---|
The notes form part of these financial statements
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
BALANCE SHEET 31 MARCH 2024
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
2024 £ 274,679 1,280 159,208 160,488 (145,146) 15,342 290,021 290,021 282,371 7,650 290,021 |
2023 £ 279,135 - 110,757 110,757 (145,086) (34,329) 244,806 244,806 232,361 12,445 244,806 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
BALANCE SHEET - continued 31 MARCH 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 December 2024 and were signed on its behalf by:
M U Hannan - Trustee
S Uddin - Trustee
The notes form part of these financial statements
Page 10
WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
Going Concern
The financial statements are prepared on the going concern basis. In the opinion of trustees, no material uncertainties exist about the charity's ability to continue.
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.
Improvements to property - in accordance with the property Fixtures and fittings - 25% on cost Computer equipment - 33% on cost
Freehold properties are maintained to a high standard to ensure that their value does not diminish further over time. The maintenance costs are charged to the profit and loss account in the year incurred. In the directors' opinion, depreciation would be immaterial and has therefore not been charged. In arriving at this opinion, an annual impairment review is undertaken.
Taxation
The charity is exempt from corporation 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.
continued...
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| Unrestricted Restricted funds funds £ £ Donations 63,431 - INCOME FROM CHARITABLE ACTIVITIES Activity North Tyneside Council Grant income Voda Grant income Sport England-Rise North East Grant income |
2024 Total funds £ 63,431 2024 £ 3,315 2,506 - 5,821 |
2023 Total funds £ 55,012 2023 £ 5,740 22,735 9,279 37,754 |
|---|---|---|
3. INCOME FROM CHARITABLE ACTIVITIES
4. CHARITABLE ACTIVITIES COSTS
| Direct Support Costs (see costs (see note 5) note 6) £ £ Staff and support costs 13,908 - Activities expenses and equipment 9,652 - Premises and overhead costs - 36,498 23,560 36,498 |
Totals £ 13,908 9,652 36,498 60,058 |
|---|---|
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 5. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 £ Staff costs 13,908 Activity expenses 9,494 Professional fees - Travel expenses 158 23,560 6. SUPPORT COSTS Governance Overheads costs £ £ Premises and overhead costs 35,448 1,050 Support costs, included in the above, are as follows: 2024 Premises and overhead costs £ Insurance 1,200 Light and heat 8,360 Telephone, printing & postage 907 Postage and stationery 939 Repairs and maintenance 15,896 Professional fees 234 Computer consumables 114 Bank charges 230 Cleaning and sundries 1,492 Donations 1,620 Depreciation of tangible and heritage assets 4,456 Accountancy charges 1,050 36,498 |
2023 £ 25,805 7,289 835 106 34,035 Totals £ 36,498 2023 Total activities £ 1,240 5,780 735 641 36,083 13 39 111 60 1,600 4,457 1,050 51,809 |
|---|---|
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Accountancy charges Depreciation - owned assets |
2024 £ 1,050 4,456 |
2023 £ 1,050 4,457 |
|---|---|---|
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
9. STAFF COSTS
| 2024 £ Wages and salaries 13,908 13,908 The average monthly number of employees during the year was as follows: 2024 Teaching work 2 No employees received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 55,012 - Charitable activities Grant income 5,740 32,014 Other income 23,571 - Total 84,323 32,014 |
2023 £ 25,805 25,805 2023 4 Total funds £ 55,012 37,754 23,571 116,337 |
|---|---|
EXPENDITURE ON
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 10. | COMPARATIVES FOR THE STATEMENT OF | COMPARATIVES FOR THE STATEMENT OF | COMPARATIVES FOR THE STATEMENT OF | COMPARATIVES FOR THE STATEMENT OF | FINANCIAL ACTIVITIES - continued | FINANCIAL ACTIVITIES - continued | FINANCIAL ACTIVITIES - continued | FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||||
| fund | funds | funds | ||||||
| £ | £ | £ | ||||||
| Charitable activities | ||||||||
| Staff and support costs | 25,805 | - | 25,805 | |||||
| Activities expenses and equipment | 5,280 | 2,950 | 8,230 | |||||
| Premises and overhead costs | 46,543 | 5,266 | 51,809 | |||||
| Total | 77,628 | 8,216 | 85,844 | |||||
| NET INCOME | 6,695 | 23,798 | 30,493 | |||||
| Transfers between funds | 15,798 | (15,798) | - | |||||
| Net movement in funds | 22,493 | 8,000 | 30,493 | |||||
| RECONCILIATION OF FUNDS | ||||||||
| Total funds brought forward | 209,868 | 4,445 | 214,313 | |||||
| TOTAL FUNDS CARRIED | ||||||||
| FORWARD | 232,361 | 12,445 | 244,806 | |||||
| 11. | TANGIBLE FIXED ASSETS | |||||||
| Improvements | Fixtures | |||||||
| Freehold | to |
and | Computer | |||||
| property | property |
fittings | equipment | Totals | ||||
| £ | £ | £ | £ | £ | ||||
| COST | ||||||||
| At 1 April 2023 and | ||||||||
| 31 March 2024 | 266,271 | 18,863 | 25,045 | 7,940 | 318,119 | |||
| DEPRECIATION | ||||||||
| At 1 April 2023 | - | 18,863 | 13,197 | 6,924 | 38,984 | |||
| Charge for year | - | - | 3,949 | 507 | 4,456 | |||
| At 31 March 2024 | - | 18,863 | 17,146 | 7,431 | 43,440 | |||
| NET BOOK VALUE | ||||||||
| At 31 March 2024 | 266,271 | - | 7,899 | 509 | 274,679 | |||
| At 31 March 2023 | 266,271 | - | 11,848 | 1,016 | 279,135 |
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 14) Accrued expenses 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund funds £ £ Fixed assets 274,679 - Current assets 152,838 7,650 Current liabilities (145,146) - 282,371 7,650 |
2024 £ 1,280 2024 £ 142,437 2,709 145,146 2024 £ 142,437 2024 Total funds £ 274,679 160,488 (145,146) 290,021 |
2023 £ - 2023 £ 142,437 2,649 145,086 2023 £ 142,437 2023 Total funds £ 279,135 110,757 (145,086) 244,806 |
|---|---|---|
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
16. MOVEMENT IN FUNDS
| Net movement At 1/4/23 in funds £ £ Unrestricted funds General fund 232,361 49,923 Restricted funds Voda-Gym and Health and Fitness Activities 3,987 (3,900) Sport England-Rise North East-Gym and Health and Fitness Activities 8,458 (808) 12,445 (4,708) TOTAL FUNDS 244,806 45,215 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 105,273 Restricted funds Voda-Gym and Health and Fitness Activities - Sport England-Rise North East-Gym and Health and Fitness Activities - - TOTAL FUNDS 105,273 |
Transfers between At funds 31/3/24 £ £ 87 282,371 (87) - - 7,650 (87) 7,650 - 290,021 Resources Movement expended in funds £ £ (55,350) 49,923 (3,900) (3,900) (808) (808) (4,708) (4,708) (60,058) 45,215 |
|---|---|
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1/4/22 in funds £ £ Unrestricted funds General fund 209,868 6,695 Restricted funds North Tyneside Council-grant for boiler 4,445 (4,445) Voda-Gym and Health and Fitness Activities - 19,785 Sport England-Rise North East-Gym and Health and Fitness Activities - 8,458 4,445 23,798 TOTAL FUNDS 214,313 30,493 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 84,323 Restricted funds North Tyneside Council-grant for boiler - Voda-Gym and Health and Fitness Activities 22,735 Sport England-Rise North East-Gym and Health and Fitness Activities 9,279 32,014 TOTAL FUNDS 116,337 |
Transfers between At funds 31/3/23 £ £ 15,798 232,361 - - (15,798) 3,987 - 8,458 (15,798) 12,445 - 244,806 Resources Movement expended in funds £ £ (77,628) 6,695 (4,445) (4,445) (2,950) 19,785 (821) 8,458 (8,216) 23,798 (85,844) 30,493 |
|---|---|
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds North Tyneside Council-grant for boiler Voda-Gym and Health and Fitness Activities Sport England-Rise North East-Gym and Health and Fitness Activities TOTAL FUNDS |
At 1/4/22 £ 209,868 4,445 - - 4,445 214,313 |
Net movement in funds £ 56,618 (4,445) 15,885 7,650 19,090 75,708 |
Transfers between funds £ 15,885 - (15,885) - (15,885) - |
At 31/3/24 £ 282,371 - - 7,650 7,650 290,021 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds North Tyneside Council-grant for boiler Voda-Gym and Health and Fitness Activities Sport England-Rise North East-Gym and Health and Fitness Activities TOTAL FUNDS |
Incoming resources £ 189,596 - 22,735 9,279 32,014 221,610 |
Resources Movement expended in funds £ £ (132,978) 56,618 (4,445) (4,445) (6,850) 15,885 (1,629) 7,650 (12,924) 19,090 (145,902) 75,708 |
|---|---|---|
Whitley Bay Community Gym project
Funding was provided by Voda to set up a gym in the community centre through the North Tyneside Health Inequalities Grant programme.
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
16. MOVEMENT IN FUNDS - continued
Active North Tyneside's Body Benefits programme
Sport England through the Rise North East are funding the running of health and fitness activities programme aimed at the lower socio-economic groups, culturally diverse communities and people with long term health conditions.
Transfers between funds
The fund transfers represent the transfer of restricted funds to unrestricted funds where a portion of the grant funding has been used to purchase fixed assets. Other transfers represent the completion of a project with the transfer of the remaining funds to unrestricted.
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
18. ULTIMATE CONTROLLING PARTY
The charitable company is under the control of the trustees.
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Charitable activities North Tyneside Council Voda Sport England-Rise North East Other income Childrens fees Miscellaneous income Gym memberships Total incoming resources EXPENDITURE Charitable activities Wages Activity expenses Professional fees Travel expenses Support costs Overheads Insurance Light and heat Telephone, printing & postage Postage and stationery Repairs and maintenance Professional fees Computer consumables Bank charges Cleaning and sundries Carried forward |
2024 £ 63,431 3,315 2,506 - 5,821 25,712 9,185 1,124 36,021 105,273 13,908 9,494 - 158 23,560 1,200 8,360 907 939 15,896 234 114 230 1,492 29,372 |
2023 £ 55,012 5,740 22,735 9,279 37,754 21,985 1,586 - 23,571 116,337 25,805 7,289 835 106 34,035 1,240 5,780 735 641 36,083 13 39 111 60 44,702 |
|---|---|---|
This page does not form part of the statutory financial statements
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WHITLEY BAY ISLAMIC CULTURAL CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Overheads Brought forward Donations Fixtures and fittings Computer equipment Governance costs Accountancy charges Total resources expended Net income |
2024 £ 29,372 1,620 3,949 507 35,448 1,050 60,058 45,215 |
2023 £ 44,702 1,600 3,950 507 50,759 1,050 85,844 30,493 |
|---|---|---|
This page does not form part of the statutory financial statements
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