REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024. FOR
QUR'ANI MURKUZ TRUST (Charity Registration No. 1081317)
aab Accountants Limited
72 South View Drive London E18 1NS
| QUR'ANI MURKUZ TRUST | |
|---|---|
| CONTENTS OF THE FINANCIAL STATEMENTS | |
| FOR THE YEAR ENDED 5 APRIL 2024. | |
| Page | |
| Report of the Trustees | 2 to 6 |
| Balance Sheet | 7 |
| Statement of Financial Activities | 8 |
| Notes to the Financial Statements | 9 to 10 |
| Independent Examiner's Report | 11 |
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QUR'ANI MURKUZ TRUST
REPORT OF THE TRUSTEES
AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present their report and financial statements for the year ending 5 April 2024.
Objective and Activities
The objects of the Charity as set out in the Trust Deed dated 24 February 2000 (as amended) are as follows:
a) The advancement of religion in accordance with the tenets and doctrine of Islam by the provision of Mosques, publications of Islamic literature and religious education;
b) To advance the education of the general public in the teachings, culture, traditions and practices of the Islamic faith;
c) To benefit the public in such a manner as may be charitable by promotion of good relations between people of different nations and different faiths.
Our objects are set out to reflect our faith and community aims. Each year the Trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the Trustees have considered the Charity Commission’s general guidance on public benefit in particular, and its supplementary public guidance on the advancement of religion for public benefit.
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Significant Activities
During the year, the following significant activities were carried out to achieve the Charity’s aims and objectives:
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The redevelopment was considered complete, however various items were still outstanding such as completion of the installation of a kitchen in the basement and other minor works which will be completed over the coming year.
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We successfully provided facilities for all five daily prayers, Friday prayers (at least two each Jumma and on very busy periods sometimes three), Taraweeh prayers during Ramadan 2024, Eid Ul Fitr and Eid Ul Adha prayers 2023 and 2024.
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The school (outsourced to Iqraa Arabic School Limited) was successfully operating under the name “SWIC – Iqraa School”. No material issues have been noted. The school had a good admission rate.
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The Trustees received numerous requests from parents of the school to subsidise or pay all the fees. The Trustees approved all requests after careful consideration of each application and their resources. Funds received as rental from Iqraa for the basement were used to subsidise the fees. Fees were paid to Iqraa school directly.
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Classes for adults in English held regularly to enhance reading and understanding of the Qur’an and the teachings of the prophet Mohammed (may peace by upon him).
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Lectures on religious, social and cultural topics held by invited scholars were arranged.
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Solemnizing Muslim marriages were carried out by Dr Fahim, (Chair) in the Masjid and at other places.
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As the old building had been demolished, the Trust was legally required to apply for and successfully registered the new building: (i) for solemnizing marriages under the Marriages Act 1949 (as amended); and (ii) as a place of worship under the Places of Religious Worship Registration Act 1855.
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Provision of marriage guidance counselling services and general counselling to Muslim individuals and families on various Islamic matters and where possible these were carried out by Dr Fahim (Chair) in person, online or by telephone. In addition, a group of doctors who attended the Centre were authorised to provide counseling and such services in the Centre.
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Mothers and daughters group held regularly to read the Quran and increase understanding.
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Chaplain visits to hospitals to provide pastoral care for Muslims.
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Organised and attended local events to promote interfaith dialogue, co-hosted with other institutions of different faiths.
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Police chaplaincy work offering independent welfare and spiritual care to officers and staff.
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School chaplaincy work involving lectures at local schools, counselling students and teachers and delivering religious services.
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Hikes and cycling club events organised for Sunday mornings. Table tennis on Saturday and other activities were organized by the volunteers.
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Chai and Chat group for seniors, Toddler Group, Senior Ladies Club, Table Tennis, Amal Café after Jumma and other regular activities were started at various times. The Chai and Chat and Toddlers groups were particularly successful.
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An Islamic storytelling event was organised for children. An external speaker came.
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The Charity is a member of FORMO, an organisation of Redbridge Muslim organisations, and attended their online meetings.
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An active member of Redbridge Three Faith Forum, online meetings were attended.
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A First Aid course was organized and successfully run by the Muslim Doctors Association.
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The Trustees and volunteers organised and successfully raised substantial funds for humanitarian aid to victims in Gaza, approx. £50,000. These funds were donated to reputable English registered charities operating in Gaza. In addition, the Trustees allowed two charities affiliated with the Islam Channel to collect for Gaza on certain days in Ramadan 2024, they collected substantial funds too.
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The Fitra and Zakah collections were distributed to various large and small reputable charities.
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The four flats were let and provided rental income.
Rebranding as “South Woodford Islamic Centre”
As reported last year the Trustees decided that on the reopening of the new Masjid/Centre it would be a good time to introduce a new name by which it can be known (and which is already used by others) in order to make it easier for people identify the Masjid/Centre. Accordingly, it was decided that Qur’ani Murkuz Trust, should be also known as “South Woodford Islamic Centre” or “SWIC”. This name has been used in all new materials and events. It is made clear that South Woodford Islamic Centre is managed and operated by Qur’ani Murkuz Trust and uses its charity number.
Volunteers
The Charity is very grateful for the unstinting work of its volunteers who are involved in the provision of services and fundraising activities. The Trustees and volunteers give their time freely and do not receive remuneration or other financial benefits for doing so.
Achievement and Performance
The Charity was at the forefront of fundraising activities. The Charity uses funds raised to help the poor and needy around the world especially during the holy month of Ramadan.
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The Charity is an active and continuous supporter and member of the East London Three Faiths Forum. Dr. Fahim (the Chair of the Charity) and many Trustees regularly participated (in person or online) and contributed to various sessions of the Three Faiths Forum.
The Charity provides the opportunity to collect the obligatory annual alms offering (Zakat), on behalf of members of the congregation and arranges to send these funds to reputable charities to be used for qualifying purposes. The Centre does not make any charge for this nor does it receive any payment for it.
The Charity also extended help to other charitable institutions during the year and especially those affected by calamities such as flood victims, communities displaced by wars, earthquakes etc.
Financial review
Reserves Policy
Restricted funds are those specified for specific purposes such as Disaster/calamity fund raising, Masjid/Centre developments, specific religious donations (Fitra and Zakah) given by the Donors. The restricted fund balance as at 5 April 2024 stands at £215,000 (2023 - £3,817,433).
Risk Management
The Trustees have assessed the major risks to which the Charity is exposed and in particular those relating to the operations and finances of the Charity. They are satisfied that appropriate controls are in place to provide reasonable assurance against fraud and error. Insurance cover is in place and the finances of the Charity are regularly reviewed. Appropriate DBS checks, supported by policies, are made for all those who work with children or other vulnerable groups.
Redevelopment
The redevelopment is considered as complete.
Structure, governance and management
Governing documents
Qur’ani Murkuz Trust, also known as “South Woodford Islamic Centre”, is constituted as a charitable trust registered with the Charity Commission on 29 June 2000 under charity number 1081317. It is controlled by its governing document, a Declaration of Trust dated 24 February 2000 (as amended) (“Trust Deed”) and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Pursuant to the Trust Deed, the Board is a self-appointing body. New trustees are appointed in the event of a resignation, death or where the numbers fall below the minimum stipulated in the Trust Deed. In the event of an appointment the existing trustees are invited to nominate suitable candidates from among the community who are familiar with the work of the Charity and who the existing trustees feel can contribute to the Charity and agree who should be approached. If the candidate agrees then the Trustees invite him/her for an interview and then formally vote on the candidate. Induction and training of new trustees. As new trustees are chosen from among the local community, they are familiar with the work of the Charity hence there has not been, to date, a need to organize formal training sessions. However, all new trustees are given an orientation session where they are briefed on their obligations to the Charity and under the law. A number of publications from the Charity Commission are also
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provided including guidance on charities and public benefit and also on the advancement of religion for public benefit.
Organizational structure
The Board of Trustees meets at regular intervals and takes overall accountability for ensuring that the Charity complies with current legislation and the rules of the constitution. The Charity operates from a single office at the address above.
Related parties
Two of the Trustees and one employee were related to each other. The Trustees have taken a resolution to recognise the situation and adopted the policy that the two related Trustees will not take any part in any proceeding directly or indirectly when the personal affairs of the related employee are discussed. During the year no Trustees or other person related to the Charity had any contracts or transactions entered into by the Charity, except drawing salary by the caretaker.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Dr M. E. E. Fahim (Chairman)
Mr. Qaiser Malik (Secretary)
Mr. Ibrahim Salaam (Treasurer)
Mr. Saleem Malik
Mr. Liquat Khan
Dr. Ashraf Gaber
Mrs. Rukhsana Zafar
Mrs. Sadia Anwar
ON BEHALF OF THE BOARD OF TRUSTEES
Q. M. Malik – Secretary and Trustee
31 January 2025
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QUR'ANI MURKUZ TRUST
BALANCE SHEET AS AT 5 APRIL 2024.
| Notes £ FIXED ASSETS 2 CURRENT ASSETS Sundry Debtors 3 2,000 Cash at Bank & in hand 625,759 --------------- 627,759 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 4 12,225 --------------- NET CURRENT ASSETS CREDITORS : AMOUNTS FALLING DUE OVER ONE YEAR 4 TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL & RESERVES Unrestricted Funds Restricted Funds TOTAL FUNDS |
2024 2023 £ £ £ 3,617,144 3,513,485 3,255 348,002 --------------- 351,257 11,309 --------------- 615,534 339,948 0 0 --------------- --------------- 4,232,678 3,853,433 ========= ======== 4,017,681 36,000 215,000 3,817,433 --------------- --------------- 4,232,681 3,853,433 ======== ======== |
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These financial statements were approved by the Board of Trustees on 31 January, 2025.
Signed on behalf of the Board of Trustees
Q. Malik Secretary Trustee
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QUR'ANI MURKUZ TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 5 APRIL 2024.
| Resources received Donations (Restricted: Development) Rent Received Fees received Total incoming resources Resources expended Donations paid 110,816 Collection machine rentals 3,562 Salaries and pension 19,255 Assistant Imams' fees and conference 21,100 Car park rent & council tax 24,075 Hall hire 0 Insurance 6,377 Repairs and renewals 1,426 Utilities 4,553 PPS and calendar 478 Phone, internet & website 1,425 Cleaning 4,871 Bank charges 2,322 General Expenses 1,854 Commission and other professional charges 35 Accountancy & Independent Report 8,510 Depreciation 3,383 -------------- Total Resources Expended Net Incoming Resources Surplus funds brought forward - Surplus funds carried forward |
2024 2023 £ £ 516,678 686,407 76,609 37,854 0 5,780 --------------- --------------- 593,287 730,041 44,050 2,941 21,034 11,347 22,578 5,125 3,997 650 5,275 1,058 809 1,354 2,265 1,505 1,791 6,830 2,789 - --------------- 214,042 135,398 -------------- ---------------- 379,245 594,643 3,853,436 3,258,793 --------------- ---------------- 4,232,681 3,853,436 ======== ======== |
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QURA'NI MURKUZ TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 5 APRIL 2024.
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
These accounts have been prepared under the Charities Act 2011 on the historical cost convention and in accordance with the Statement of Recommended Practice on Accounting and Reporting by Charities: The SORP 2005.
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources can be measured with sufficient reliability.
Resources expended
Expenditure is accounted for on accrual basis. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff, time or space occupied, as appropriate.
The irrecoverable element of VAT is included with the item of expenses to which it relates. Governance costs comprise the cost associated with meeting the constitutional and strategic aims of the charity and the accountancy fees and costs linked to strategic management of the charity.
Fund Accounting
Restricted funds are 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.
Unrestricted funds are used in accordance with the charitable objectives at the discretion of the Trustees.
TAXATION: The Company by virtue of its charitable status is exempt from taxation.
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2. TANGIBLE ASSETS: Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| As at | As at | ||||
|---|---|---|---|---|---|
| 05.04.23 | Additions | Disposal | 05.04.24 | ||
| Cost | Freehold Properties | 3,498,638 | 99,645 | - | 3,598,283 |
| Furniture and Fixtures | 16,200 | 4,935 | - | 21,135 | |
| Equipment | 1,436 | 2,462 | - | 3,898 | |
| --------------- | **-------------- ** | **----------- ** | --------------- | ||
| 3,516,274 | 107,042 | - | 3,623,316 | ||
| **======== ** | **======= ** | ============== | |||
| Depreciation Freehold Properties |
- | - | - | - | |
| Furniture and Fixtures | 2,430 | 2,498 | - | 4,928 | |
| Equipment | 359 | 885 | - | 1,244 | |
| --------------- | **-------------- ** | **----------- ** | --------------- | ||
| 2,789 | 3,383 | - | 6,172 | ||
| **======== ** | **======= ** | ============== | |||
| 2023 | 2024 | ||||
| Net Fixed Assets | 3,513,485 | 3,617,144 | |||
| 05.04.24 | 05.04.23 | ||||
| 3. DEBTORS : amounts due before and after 12 months | 2,000 | 3,255 | |||
| 4. CREDITORS: AMOUNT DUE BEFORE & AFTER 12 MONTHS. | |||||
| Sundry Creditors | 12,225 | 11,309 | |||
| ======= | ======= | ||||
| 5. CONTINGENT LIABILITIES | There are no contingent liabilities at 5 April | 2024. | |||
| 6. RELATED | PARTY TRANSACTIONS | Dealt with in the Trustee Report. | |||
| 7. AVERAGE | NUMBER OF EMPLOYEES | 1 | 7 |
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
REPORT TO THE TRUSTEES OF QUR’ANI MURKUZ TRUST (CHARITY NO. 1081317)
ON ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
SET OUT ON PAGES 7 TO 10
The report is solely made to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinion I have formed.
Responsibilities and basis of report
As the Trustees of Qur’ani Murkuz trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
Having satisfied myself that the Financial Statements of the charity are not required to be audited under para 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Qur’ani Murkuz Trust's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Accounting Technicians, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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1) the accounting records were not kept in accordance with section 130 of the Charities Act., or
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2) the financial statements did not accord with the accounting records; or
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3) the financial statements did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 financial statements to be reached.
Signed: M M Rahman, MAAT Firm: AAB Accountants Ltd 72 South View Drive London E18 1NS Date: 31 January 2025
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