Charity Registered number 1075401 Bow Muslim Community Centre Report and Accounts 31 March 2024 Bow Muslim Community Centre Report and accounts Contents Page Charity information Trusteess, report Independent examinerfs report Income and Expenditure Accounts Balance sheet Statement of changes in equty Notes to the accounts Bow Muslim Community Centre Company Information Trustees Mr Mohammad Shamsul Hoque - Chair Person Mr Mohammad Muktor Miah - General Secretsry Mr Tanbir Ahmed Jaigirdar- Tresurer Mr Assaddor Ali Mr Ilas Mohammed Accountants Capstone Accountants Unit G.05 93-101 Greenfield Road London E1 1EJ Bankers Barclays Bank PIC Registored offlce 515 Roman Road London E3 SEL Charity Registered number 1075401 Bow Muslim Community Centre Registered number: 1075401 Trustees. Report The trustees present their report and accounts for the year ended 31 March 2024. Trustees The following persons seNed as trustees during the year.. Mr Mohammad Shamsul Hoque Mr Mohammad Muktor Miah Mr Tanbir Ahmed Jaigirdar Mr Assaddor Ali Mr Ilas Mohammed Trustees. responsibilities 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 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 occupats'on 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. 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. 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. Bow Muslim Community Centre Registered number: 1075401 Trustees, Report 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 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 charib'es 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 CharitiesAct 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. Bow Musllm Communlty C•ntr• Rogl$t•red number: 1076401 Trustees, R•port 8ERIOUS INCIDENTS AND EXCEPTIONS.. Th• Trust￿5 arn p￿lsed ts) 11010, that Ihore ware nu IncldwJt$ whl¢h gave r16e to th8 n88d for tho TttJBtOVS to Ivdge a Swlous Incldgnt B.eport wlth the Charlty Comml8sion. Furlher)rnr8. ther6 ExLwtion8 ￿e0rdad and whlch gave r18e to the need for thè Truthes to rerKx ¢)n th8 Charlty's Extsptlon8' Règ18tsr. RELATED PARTY TrANSACTIONS.. DuAng the year the Charity was under the control of TnBteg3 and Management Commrttoe M￿berS 8s Ilsted above. No membwB of the management commlttee recelved any remuneration durtng the year. No trustse or other person related to the tharity had any perwnal Intsre* In any contract or tranSBCtI￿ entsred Into by the charlty dudng the year. RESERVE POLICY It is Ihe policy of the charfty that unr6Stricted fund8, have not been designated for 6￿CIfiC usq should be matntalned at a level equlvalent to its expenditure. The Trustses consider that reseNes at this level will ensure thac In the event of a signlficant drop h) fund￿g. ... TtrEy will be able to continue the ch8rity'8 current activities ￿1[16 consideration 18 given to ways ' in which additional funds may be ralsed. The Centre will active￿ work to achieve thls 18vel of INDEPENDENT EXAMINER According to the provlsions of thè Ch8rltres AGt 2008 and upd8t8d 2011, tha Committee has agreed that and *Jdit is not required for this financlal year. However due trj provistons of the same act an Independent examiner is requlred arKI Capstone Accountants appolnted a5 extemal Accountsnt or Indèpendent Exanfin8T, Transaction and financial positlon The Statsment of Financial Acttvlties shows surptus for the year of £117,187.00 and our accumul8bJ funds stand at £1,605,838.Crf) in total. Capstone Accountants carried out an indep8ndent examinafion of the accounts Induded kne reporL Thls r8FL)It whlGh has been prepared In accordance wlth th8 Statement of Reo)mmended Practice(SORP) A¢¢ountlng and Roporbng by Charftles Issued in 2005. This report was approved by the Exscutive Committee on and slgned on thelr behalf. Thjs report whkh has been prepared In a¢cor(knc4 with the Statement of Practhe (SQRP) Acc4)unting and Repor￿ng by Charities Issued In 2005. Thb report W86 approved by the board on 19 FebNary 2025 and slgned on tts behall. Mr Mohammad Shamsul Hoquo Trnst8e (Chalman) Mr Moha Trusleg {S8ty8tary) Bow Muslim Community Centre Accountants, Report Accountants I Independent Examinerf roport to the trustees of Bow Muslim Community Centre We report on the accounts for the year ended 31 March 2024 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 accordan￿ 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 Offi￿r$ 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 charty 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. Capstone Accountants Accountants Unit G.05 93-101 Greenfield Road London E11EJ 19 February 2025 CAPSTONÉ ACCOUNTANTS &TAX ADVISFRS Unit G.05, East London Business Centre 93-101 Greenfield Road, London El l EJ [.' 020 7247 0743 e". info@capstCFneaLcountant5.co.uk w.. www.capsroneaccounlanti.co.uk Bow Muslim Community Centre Income and Expendlture Account for the year ended 31 March 2024 2024 2023 Incomlng Resources 171,625 163,634 Resources Expended (54,438) (37.178) Surplus for tho financlal year 117,187 126,456 Bow Musllm Communlty Centr• Charfty R•glst•r•d numb•r: Balan¢• 8h••t as at 31 Maroh 2024 1075401 2024 2023 Flx•d •ss•ts Tangible assets 1,108,401 1,108,401 1,108,456 1,108,456 Cash 8t bank and In hand 707,351 707,351 e05,863 805,883 cr0d￿r8. amounts falllng du• wlthln on• y•ar (914) (e68) 706,437 605,195 Total ass•ts less Gurr•nt Ilabllltlos 1,814,838 1,713,6S1 Credltors: amourts falling du• aft•r mor• than on6 year (209.000) (225.QJO) 1805,838 1.488.651 Funds Inccime and Expenditure Account 1,805,838 1.488,851 Total funds 1,605,838 1,488 651 The financial statements were approved by the Executive Commlttee and signed on their bahalt. Mr Mohammad Shamsul Hoque Mr Mohammad Muktor Mlah Tnmtse (Chaimian) Trustse (Secretary) Mr Tanbir Ahmed JawJlthr Trustse (Tr6&8urar) Approvad by the l)08rd on 19 Fabruary 2025 Bow Muslim Community Centre Notes to the Accounts for the year ended 31 March 2024 1 Accounting pollcles Basis of preparation 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 accordan￿ with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015). Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specrfy 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. Tangible fixed assets Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixtures, fittings, tools and equipment 15 0/0 on Reducing Balance method Creditors Short term creditors are measured at transaction price (which is usually the invoice pri￿). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxatlon 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. 2 Employees 2024 Number 2023 Number Average number of persons employed by the company Bow Muslim Community Centre Notes to the Accounts for the year ended 31 March 2024 3 Tangible fixed assets Fixtures, fittings & equipment Land and buildlngs Total Cost At 1 April 2023 At 31 March 2024 1,108,087 1,108,087 510 510 1,108,597 1,108,597 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 141 55 141 55 196 196 Net book value At 31 March 2024 1.108.087 314 1.108,401 At 31 March 2023 1,108,087 369 1.108,456 4 Creditors.. amounts falllng due wlthin one year 2024 2023 Taxation and social security costs Other creditors 313 601 914 602 668 5 Creditors: amounts falllng due after one year 2024 2023 Interest Free Loan ( Karje Hasana) 209,000 209,000 225.000 225,000 Bow Muslim Community Centre Detalled income and expenditure account for the year ended 31 March 2024 This schedule does not fomi part of the statutory accounts 2024 2023 Unrestricted Restricted Incoming Resources Rental Income General Donation and Contribution 22,578 149,047 171,625 22.578 149,047 171,625 22,539 141,095 163,634 Administrativo expenses Wages and salaries Volunteer expenses Council tax Light and heat Water bill Telephone and internet stationery and printing Bank charges Insurance Planning permission fee Repairs and maintenance Depreciation Sundry expenses Accountancy fees 16,721 3,990 371 4,364 4,006 439 680 13 16,721 3.990 371 4,364 4,006 439 680 13 2,856 4,200 6,992 55 9,151 600 54,438 15,834 717 5,985 607 600 4,200 6,992 55 9,151 600 54,438 956 9,824 65 1,990 600 37,178 10