# **BOW MUSLIM COMMUNITY CENTRE Charity Registration Number: 1075401** REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## **REPORTING ACCOUNTANTS:** AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 3NN TEL: 020 7790 6111 Page 1 of 12 FOR THE YEAR ENDED 31 MARCH 2022 ## **BOW MUSLIM COMMUNITY CENTRE** |**CONTENTS**||**Pages**| |---|---|---| |Information of financial Statements|:|3| |Report of the Executive Committee|:|4 - 5.| |Statement of responsibilities of the|Committee:|6| |Independent Examiner's Report|:|7| |Income and Expenditure Accounts|:|8| |Statement of Assets and Liabilities|:|10| |Notes to the Accounts||11 -12.| Page 2 of 12 **BOW MUSLIM COMMUNITY CENTRE** FOR THE YEAR ENDED 31 MARCH 2022 MANAGEMENT COMMITTEE CHAIR PERSON Mr Shomsul Hoque GENERAL SECRETARY Mr Mohammad Muktor Miah TREASURER Mr Tanbir Ahmed Jaigirdar ADDRESS 515 ROMAN ROAD London E3 5EL BANKER Barclays Bank Plc INDEPENDENT EXAMINER AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 3NN TEL: 020 7790 6111 ## **Charity's Trustees:** Mr Shomsul Hoque Mr Mohammad Muktor Miah Mr Tanbir Ahmed Jaigirdar Mr Assaddor Ali Mr Ilas Mohammed Page 3 of 12 REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2022 ## **BOW MUSLIM COMMUNITY CENTRE** The trustees present their report and financial statements for the year ended 31 March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing the annual report and financial statements of the Charity. ## **Legal Status:** Charity: Registered with the Charity Commission, Charity Number: 1075401 ## **Objects, Principal Activities and Organisation of the Charity** The Charity's objects are for the benefit of the inhabitants of London Borough of Tower Hamlets, and in particular members of the Muslim Minority Ethnic Communities but exclusively who are in hardship by: a) Relieving poverty, sickness and distress by through the provision of advice and information to said inhabitants in need of such advice that may include welfare benefits, health and education. b) Advancing education in particular the provision of language and other subject classes. c) Providing or assisting in the provision of facilities for the recreation and the leisure time occupation in the interest of social welfare and the object of improving their conditions of life. d) Providing help and assistance mainly educational and religious to the local Muslim community to overcome their disadvantages and improve their condition of lives. Page 4 of 12 ## **BOW MUSLIM COMMUNITY CENTRE** REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2022 ## **Organisation:** A Management Committee, the members of which are the trustees manages the affairs of the charity The Management Committee manages the business of the charity including the paying of all expenses ## **Trustees:** Trustees, who are all members of the executive committee, and who served during the year are set out on page 3. The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve until the end of the next Annual General Meeting, where they can stand for re- election as members of the new Executive Committee. ## **Trustees responsibilities in relation to the financial statements** The committee or Trustees are required by charity's law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the Trustees are required to: The Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP; - Make judgements and accounting estimates that are reasonable and prudent; - 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 financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011. The Charity (Accounts and 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 ## **VOLUNTEERS:** The Trustees wish to record their appreciation on behalf of the Charity and community for the volunteers who . assist in the smooth running of the Charity and are critical in helping to keeps the running costs down ## **RISK REVIEW:** The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review resulting in a process of ongoing improvement. All staff and volunteers are trained and have all the required statutory and regulatory clearances required. Page 5 of 12 **BOW MUSLIM COMMUNITY CENTRE** REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2022 ## **SERIOUS INCIDENTS AND EXCEPTIONS:** The Trustees are pleased to note, that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity’s Exceptions’ Register. ## **RELATED PARTY TRANSACTIONS:** During the year the Charity was under the control of Trustees and Management Committee members as listed above. This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies. No members of the management committee received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. ## **Reserve Policy** It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to its expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding. They will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The Centre will actively work to achieve this level of reserves. ## **INDEPENDENT EXAMINER** According to the provisions of the Charities Act 2008 and updated 2011, the Committee has agreed that and audit is not required for this financial year. However due to provisions of the same act an independent examiner is required and AM Accountancy Services appointed as external Accountant or Independent Examiner. ## **Transaction and financial position** The Statement of Financial Activities shows net surplus for the year of £130,017 and our accumulated funds stand at £1,362,195 in total. AM Accountancy Services carried out an independent examination of the accounts included in the report. This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005. ## **Approved by the trustees and signed on its behalf by** This report was approved by the Executive Committee on and signed on their behalf. ……………………… Mr Shomsul Hoque (Chairman) Date: ………………………….. Mr Mohammad Muktor Miah (General Secretary) Date: Page 6 of 12 **Accountants’ Report** ## **To the Trustees of** ## **BOW MUSLIM COMMUNITY CENTRE** FOR THE YEAR ENDED 31 MARCH 2022 We report on the accounts for the year ended 31 March 2022 set out on pages 8 to 12 which have been prepared under the historical cost convention and the accounting policies set out in note 1 to the financial statements. ## **Respective Responsibilities of Trustees and Accountants** As described on page 5 the trustees are responsible for the preparation of the financial statements, and they consider that the trust is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you. ## **Basis of Opinion** We conducted our work in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedures provide only the assurance expressed in our opinion. ## **Opinion** In our opinion: - (a) The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities; - (b) Having regard only to, and on the basis of, the information contained in those accounts: - (1) The accounts have been drawn up in a manner consistent with the accounting requirements specified the Statement of Recommended Practice – Accounting and Reporting by Charities, and - (2) The charity satisfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act. - (3) This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee. AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 3NN Date: Page 7 of 12 ## **BOW MUSLIM COMMUNITY CENTRE Statement of Financial Activities (Income & Expense Statement)** ## FOR THE YEAR ENDED 31 MARCH 2022 **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Voluntary income:
LBTH Grant 10,000
HMRC JRS Grant 919 919 15,351
Rental Income 24,540 24,540 16,040
General Donation and Contribution 139,678 139,678 80,108
Total Incoming Resources 164,218 919 164,218 121,499
Resources Expended
Direct Charitable Expenditure
Printing, postage, stationery & Advertisement 1,779 1,779 600
Telephone, fax and photocopies 0 0
Rent, Rates and service charges 1,154 1,154 3,352
Light, Heat and Water 3,573 3,573
Books and Materials 0
Refreshments 0
Cleaning 0 0
Wages 19,122 19,122 21,392
Events and activities (Project Costs) 0
-
Direct charitable expenditure 25,629 25,629 25,344
Management & Administration Expenses:
Accountancy 800 800 800
Other Legal & Training Costs 0 450
Advertising and promotion 0
Bank charges 12 12
Insurance 1219 1,219 1,064
CRB fee 0
Depreciation 77 77 101
Donations 1540 1,540
Repairs 4925 4,925 57
-
Management & Administration Expenses: 8,573 8,573 2,472
-
Total Resources Expended 34,201 34,201 27,816
-
Net Incoming Resources / 130,017 130,017 93,683
(resources expended)
Net Movement funds for the 130,017 - 130,017 93,683
period:
-
Total Funds Brought forward 1,232,178 1,232,178 1,138,495
Balance at 31 March 2022 1,362,195 - 1,362,195 1,232,178
**----- End of picture text -----**
Page 8 of 12 ## **BOW MUSLIM COMMUNITY CENTRE** **Summary Income and Expenditure Account FOR THE YEAR ENDED 31 MARCH 2022** |Income
Total expenditure
Net Surplus (Deficit) for the financial year|**2022**
**£**
164,218
34,201
**130,017**| |---|---| There were no recognised gains other than those included in the Income and Expenditure Account for current year. Page 9 of 12 ## **BOW MUSLIM COMMUNITY CENTRE** ## **Statement of Assets & Liabilities ( Balance Sheet) As at 31 March 2022** |2022
**NOTE**
**£**
**Fixed Assets**
Land & Building
2
1,108,087
Fixture, Fittings and Equipments
2
434
**Current Assets**
Cash at Bank & in Hand
483,265
483,265
**Current Liabilities**
Amount falling due to one year
Accruals
4
1,591
NET CURRENT ASSETS / (LIABILITIES)
**Creditors:**
Amounts falling due after more than one year
5
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**FUNDS: Brought Forward**
6
Excess/(Deficit) of income over expenditure
**Total Funds**
The financial statements were approved by the Executive Committee and signed on their behalf:
…………………………..
…………………………..
Mr Shomsul Hoque
Mr Mohammad Muktor Miah
(Chairperson)
(General Secretary)
Date:
Date:|**£**
1,108,521
481,674
228,000
-
1,362,195
1,232,178
130,017
1,362,195
……………………………
Mr Tanbir Ahmed Jaigirdar
(Treasurer)
Date:| |---|---| The Notes on pages 10 to 12 form part of the financial statements. Page 10 of 12 ## **BOW MUSLIM COMMUNITY CENTRE FOR THE YEAR ENDED 31 MARCH 2022** ## **NOTES TO THE ACCOUNTS** ## **1. ACCOUNTING POLICIES** ## **a. Basis of Accounting** Basis of accounting The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value. The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015). ## **b. Grants** Revenue grants are credited to the Income and Expenditure account on a receivable basis. ## **c. Donations** Donation are recorded on a receipt basis. ## **d. Incoming Resources** Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors' conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. ## **e. Resources Expended** Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered. Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources. ## **f. Going Concern Basis** The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate. ## **g. Administration Costs** Administration expenditure includes all expenditure not directly related to the charitable activity. ## **h. Taxation** As a charity, they are exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. ## **i. Depreciation:** Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Fixture, Fitting and Equipment: 15 % on Reducing Balance method Page 11 of 12 ## **BOW MUSLIM COMMUNITY CENTRE** ## FOR THE YEAR ENDED 31 MARCH 2022 ## NOTES TO THE ACCOUNTS ## **2. FIXED ASSETS COST** |**3.**
**4.**
**5 .**
**6.**|**COST**
**£**
At 01 April 2021
510
Addition : Purchase of two Premises
Addition : Refurbishments
-
At 31 March 2022
510
DEPRECIATION
At 01 April 2021
-
Charge for the year
77
At 31 March 2022
77
NET BOOK VALUE
At 01 April 2021
510
At 31 March 2022
434
**Net Surplus of the Financial Year**
The excess of expenditure over income is stated after charging:
Accountants' remuneration
Depreciation
**Creditors and Acruals**
Accountancy
Accruals
**Creditors**
Amount falling due after more than one year
Interest Free Loan ( Karje Hasana)
Balance at 31/03/2022
**Funds/Capital**
Balance at 31 March 2021
Balance at 1 April 2022
Excess/ (Deficit) of Income over Expenditure
**Balance at 31 March 2022**
Fixtures, fittings &
Improvements|**£**
**£**
878,954
879,464
-
225,396
225,396
3,737
3,737
1,108,087
1,108,597
-
-
-
77
-
77
878,954
878,954
1,108,087
1,108,521
**2022**
**£**
800
77
800
791
1,591
**Total**
228,000
**2022**
**£**
1,232,178
1,232,178
130,017
1,362,195

Building and
Construction| |---|---|---| Page 12 of 12