MUSLIM COMMUNITY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
CHARITY REGISTRATION NUMBER: 1077341
MUSLIM COMMUNITY TRUST
TABLE OF CONTENTS
| Page | |
|---|---|
| Trustees’ Report | 1 |
| Accountant’s Report | 2 |
| Income and Expenditure Account | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5-7 |
CHARITY INFORMATION
CHARITY REGISTRATION NUMBER : 1077341
TRUSTEES : Mr S Buth Mr A .Suleman Mr N Asim Mr R Malik
EXECUTIVE COMMITTEE :
General Secretary : Treasurer :
Mr Farid Yusuf Mr Abdul Aziz
MUSLIM COMMUNITY TRUST
TRUSTEES’ REPORT
The board of Trustees present their annual report for the year ended 31st December 2020.
GOVERNING DOCUMENT
The Charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
OBJECTIVES OF THE TRUST
The objectives of trust are the enhancement of Islamic ideology in accordance with Quran and Ahadith in the locality within the bounds of Mosque.
ADVISORS
The trust’s advisors are as shown on the Table of Contents.
REVIEW OF ACTIVITIES
The trust’s income arises from fees and donations. The executive committee is responsible for the day to day management of the financial and operational matters.
The management committee meets on a regular basis to discuss and review the affairs of trust. The board also has an Annual General Meeting in which members of the executive committee present themselves for re election.
Statement of trustees’ responsibilities
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 charity’s financial activities during the year and of it’s financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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a. select suitable accounting policies and then apply them consistently;
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b. make judgements and estimates that are reasonable and prudent;
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c. state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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d. state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements; and (unincorporated charities)
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e. prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the charity, and which enable them to both ascertain the financial position of the charity and ensure that the financial statements comply with Charities Act 1993 . 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.
BY ORDER OF THE BOARD
Chairman Mr S Hussain
Dated:14th June 2021
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MUSLIM COMMUNITY TRUST
Independent Examiner’s Report to the Trustees of Muslim Community Trust
We report on the accounts for the year ended 31st December 2020 set out on pages three to six
Respective responsibilities of trustees and examiner
The charity’s trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this
year (under Section 144(2) of the Charities Act 2011(the 2011 Act)) and that an independent examination is required.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for the independent examination, it is my responsibility to;
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Examine the accounts under Section 145 of the 2011 Act
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To follow the procedures laid down in the General Directions given by the Charity Commission
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(Under Section 145(5) (b) of the 2011 Act); and
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to state whether particular matters have come to my attention
Basis of the independent examiner’s report
My examination was carried out in accordance with the General Directions given 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 set out in the statements below.
Independent examiner’s statement
In connection with my examination, no matter have come to my attention;
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006;and
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to prepare accounts which accord with accounting records, comply with the accounting requirements of Sections 394 and 395 of the Company Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Karbhari & Co. Accountants 133 Ley Street Ilford, Essex IG1 4BH
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MUSLIM COMMUNITY TRUST
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2020
| 2020 Notes 0 1,318,435 Total Funds Carried Forward - 1,300,565 Total Funds brought forward 0 17,870 Net (Loss) / Income for the year 0 82,405 3 Total Resources Expended 2,317 Other resources expended - 500 Governance Cost - 79,588 Costs of generating vouluntary income Costs of Generating Funds RESOURCES EXPENDED 0 100,275 Total Income Resources - 82,495 2 Activities for generating funds - 17,780 Voluntary Income Generating Funds £ £ Income Resources from Funds Funds Restricted Unrestricted INCOME RESOURCES |
2020 1,318,435 1,300,565 £17,870 82,405 2,317 500 79,588 0 0 0 £ Total |
2019 1,300,565 1,292,140 8,425 98,211 2,780 500 94,931 106,636 105,024 1,612 £ Total |
|---|---|---|
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MUSLIM COMMUNITY TRUST
BALANCE SHEET AS AT 31ST DECEMBER 2020
Notes Total Funds Carried forward 3 Net(Profit)Income Unrestricted Funds B / fwd Income Funds FUNDS Net Assets Current Assets Less Current Liabilities (125,872) 5 Creditors CURRENT LIABILITIES 273,228 273,228 Cash at Bank and in Hand CURRENT ASSETS 4 Tangible £ FIXED ASSETS |
2020 £1,318,435 17,873 1,300,562 £1,318,435 147,356 1,171,079 £ |
( 53,49 8) 181,104 181,104 £ |
2019 £1,300,562 8,422 1,292,140 £1,300,562 127,606 1,172,956 £ |
|---|---|---|---|
The Financial Statements are approved by the Board of Trustees on 14th June 2021 and were signed on their behalf by:
____ Secretary of Trust
The notes on pages 4 to 6 form part of these Financial Statements
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MUSLIM COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
1. Accounting Policies
a. Accounting Convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 1993 and the requirement of the Statement of Recommended Practice and Reporting by Charities.
b. Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entilted to the income and the amount can be quantified with reasonable accuracy.
c . Resources Expended
Expenditureis accounted for on an accrual 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.
d . Taxation
The organisation is a charity and is entitled to exemption from taxation on its income and profits by virtue of Section 505 of the Income and Corporation Taxes Act 1988 .
e . Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each assets over its estimated useful life.
Fixtures and Fitting - 25% on reducing balance
- f . 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 particlur purposes with the objects of the charity. Restricted funds arise when specified by the donor or when funds are raised for particular restricted purpose.
| Membership Fees Madrashah Fee R Book Calender Sale HMRC Grant Ramadhan Collection Safe Collections Eid Collections Online Donation Friday Collections Radio and book sale ACTIVITIES FOR GENERATING FUNDS 2 |
100,275 0 18,890 23,690 100 3,648 - 1,820 2,295 14,132 35,290 410 2020 £ |
1,000 12,359 21,414 - - 2,040 5,026 3,430 612 59,955 800 2019 £ |
|---|---|---|
| 106,636 |
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MUSLIM COMMUNITY TRUST
DEATAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
| NET INCOME Fixtures and Fittings Other Resources Expended Accountancy Governance Costs Sundries Donation Permit Building Insurance Council Tax Postage and Stationery Legal Fees Cleaning and Toiletries Telephone Repairs and Renewals Book Purchases Trade Refuse Light & Heat Employer Pension Water Rates Wages & NIC Costs of generating voluntary income RESOURCES EXPENDED Total Incoming Resources Calender Sale Safe Collections R Book Madrashah Fee Eid Collections Ramadan Collection Friday Collections Radio and book sale Activities for generating funds Membership Fees HMRC Grant Donations Voluntary Income INCOMING RESOURCES: 3 |
£17,873 2,317 500 79,585 0 500 0 1,583 2,348 219 29 830 436 14,325 2,350 200 6,398 256 1,600 48,511 £100,275 82,495 100 1,820 23,690 18,890 2,295 - 35,290 410 17,780 0 3,648 14,132 2020 £ |
£8,425 2,780 500 94,931 0 0 132 3,071 2,151 385 280 1,540 492 36,416 3,150 - 5,451 422 2,628 38,813 £106,636 105,024 - 5,026 21,414 12,359 3,430 2,040 59,955 800 1,612 1,000 - 612 2019 £ |
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MUSLIM COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
Notes
| 4 | FIXED ASSETS | Freehold | Improvements to | Improvements to | Fixture | Fixture | Fixture | Total | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Property | Property | and | Fittings | ||||||||
| £ | £ | £ | £ | ||||||||
| Cost | |||||||||||
| Balance B/ fwd | 1,118,961 | 42,850 | 38,042 | 1,199,853 | |||||||
| As At 1st January 2019 | |||||||||||
| Additions | 0 | - | 440 | 440 | |||||||
| £1,118,961 As At 31st December 2020 |
£42,850 | £38,482 | £1,200,293 | ||||||||
| Depreciation | |||||||||||
| Depreciation b/fwd | 26,897 | 26,897 | |||||||||
| Add: Depreciation | 2,317 | 2,317 | |||||||||
| As At 31st December 2020 | £29,214 | £29,214 | |||||||||
| Net Book Value | |||||||||||
| £1,118,961 At 31st December 2020 |
£42,850 | £9,268 | £1,171,079 | ||||||||
| £1,118,961 At 31st December 2019 |
£42,850 | £11,145 | £1,172,959 | ||||||||
| 2020 | 2019 | ||||||||||
| £ | £ | ||||||||||
| 5 | CREDITORS | ||||||||||
| Taxation and social security | 444 | 545 | |||||||||
| Karze Hasna | 124,380 | 51,880 | |||||||||
| Other Creditors | 1,048 | 1,073 | |||||||||
| £125,872 | £53,498 |
6 TRUSTEE’S REMUNERATION AND BENEFITS
There were no Trustee’s remuneration or other benefits for the year ended 31st December 2019 & 31st December 2020.
TRUSTEE’S EXPENSES
There were no trustee’s expenses paid for the year ended benefits for the year ended 31st December 2019 & 31st December 2020.
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