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2021-04-30-accounts

MASJID-E-SALAAM AND MADRASAH TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDING 30 APRIL 2021

CHARITY NUMBER: 1081944

ABBEY & CO ASSOCIATES 1ST FLOOR ABBEY HOUSE 270-272 LEVER STREET BOLTON BL3 6PD

MASJID-E-SALAAM AND MADRASAH TRUST

CONTENTS INFORMATION

FOR THE YEAR ENDING 30 APRIL 2021

Index to Financial Statements

Page
Legal & Administrative Listing 3
Accountants Report 4
Report of the Trustees 5
Statement of Activities 6
Balance Sheet 7
Notes to the Accounts 8 - 10

2

MASJID-E-SALAAM AND MADRASAH TRUST

CHARITY INFORMATION

FOR THE YEAR ENDING 30 APRIL 2021

Trustees

Maqsud Dawood Patel (Chairman) Imteyaz Yakub Ali Arif Valli Patel Yakub Ibrahim Patel Salim Mohammed Adam Imran Hakim Siraz Valli Patel Yusuf Ibrahim Patel Imtiaz Ibrahim

Charity Secretary

Arif Valli Patel

Registered Office

148 Ashworth Lane Bolton BL1 8RR

Bankers

Royal Bank of Scotland Bolton Customer Service Centre PO Box 2027 Parklands De Havilland Way Horwich, Bolton BL6 4YU

Accountants

Abbey & Co Associates 1st Floor, Abbey House 270-272 Lever Street Bolton BL3 6PD

3

MASJID-E-SALAAM AND MADRASAH TRUST

INDEPENDENT EXAMINERS' REPORT YEAR ENDED 30 APRIL 2021

TO THE TRUSTEES AND MEMBERS OF MASJIDE-E-SALAAM AND MADRASAH TRUST

I have examined the financial statements for the year ended 30 April 2021 as set out on the annexed pages which have been prepared under the historical cost convention and the accounting policies set out below:

Respective responsibilities of the Trustees and Independent Examiner

The charity's trustees 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 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Financial Accountants (IFA).

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for an independent examination; it is my responsibility to:

Basis of 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 a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with our examination, no matter has come to my attention:

  1. Which gives us reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act 2011; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting

  4. requirements of the Charities Act 2011 have not been met; or

  5. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

__________ Honorary Independent Examiner

Faruk Patel FFA FTA Abbey & Co Associates 1st Floor, Abbey House 270-272 Lever Street Bolton BL3 6PD

11th March 2022

4

MASJID-E-SALAAM AND MADRASAH TRUST

FOR THE YEAR ENDING 30 APRIL 2021

STATEMENT OF TRUSTEES RESPONSIBILITIES

Charity Law requires the Trustees to prepare financial statements and statements of assets and liabilities for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for that period together with its assets and liabilities at the end of the period and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulation made under S44 of the Charity Act 1993 as amended by Charity Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention of fraud or other irregularities.

Approved by the Trustees and signed on their behalf by:

Arif Valli Patel (Charity Secretary)

11th March 2021

5

MASJID-E-SALAAM AND MADRASAH TRUST

STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND EXPENDITURE STATEMENT

FOR THE YEAR ENDING 30 APRIL 2021

INCOME
Voluntary Income
Donations
New Building Appeal
Grants
Investment Income
Income from Charities Activities
Other Income
Membership Fees
Gift Aid Payments
Madressa Fees
Shop Income
HMRC JRS Covid Grants
TOTAL INCOME
RESOURCES EXPENDED
Cost of Generating Funds
Charitable Activities
NET INCOMING RESOURCES
Fund Balances Brought Forward
FUND BALANCES CARRIED FORWARD		 Unrestricted
Funds
£
42,443
212,484
-
3,311
206
-
16,591
24,805
-
17,129
316,969
83,981
232,988
1,007,911
1,240,899		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Totals
2021
£
42,443
212,484
-
3,311
206
-
16,591
24,805
-
17,129
316,969
83,981
232,988
1,007,911
1,240,899		 Totals
2020
£
38,818
189,398
-
3,317
1,485
-
50,305
23,838
-
-
307,161
89,932
217,229
790,682
1,007,911

Continuing Operations

None of the charities activities were acquired or discontinued during the above financial period.

Total Recognised Gains and Losses

The charity has no gains or losses other than the profit or loss for the above financial period.

6

MASJID-E-SALAAM AND MADRASAH TRUST

BALANCE SHEET AS AT 30 APRIL 2021

NOTES
FIXED ASSETS
As per Fixed Asset Schedule
4
CURRENT ASSETS
Debtors & Prepayments
5
Cash at Bank
Cash in Hand
CURRENT LIABILITIES
Bank Overdraft
Accurals & Creditors
6
Other Creditors & Loans
Net Current Assets / (Liabilities)
TOTAL ASSETS LESS CURRENT LIABILITIES
LONG-TERM CREDITORS
Creditors due after one year
7
NET ASSETS
REPRESENTED BY:
ACCUMULATED FUNDS
Net Assets B/fwd 01/05/2020
Surplus for the Year
Net Assets C/fwd 30/04/2021		 £
-
490,876
2,710
493,586
-
735
-
735

Approved by the Trustees and signed on their behalf by:

Arif Valli Patel (Charity Secretary)

10th March 2021

7

MASJID-E-SALAAM AND MADRASAH TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDING 30 APRIL 2021

1. Accounting Policies

(a) Basis of Preparation These financial statements have been prepared under historical cost convention and in accordance with applicable accounting standards. The financial statements have been prepared in accordance with the statement of recommended practice (SORP) and accounting and reporting by charities' published in October 2005.

(b) Fund Accounting General funds are unrestricted funds which are available for the use of discretion of the Trustees in furtherance of the general objectives of the charity and has not been put aside for other purposes.

Restricted Funds are funds which are to be used in accordance with specific restrictions which has been raised by the charity for a specific purpose. The cost of raising and administering such funds are charged against the specific fund.

(c) Investment Income Income from investment and from rental income is included in the SORP in the year in which it is receivable.

(d) Incoming Resources All incoming resources are included in the SORP when the charity is legally entitled to the income and the amount can be can quantified with reasonable accuracy. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. For legacies, entitlement is the earlier of the charity been notified of and impending distribution of the legacy being received. Donated facilities are included at the value to the charity when this can be quantified and a third party is bearing the cost.

(e) Resources Expended All expenditure is accounted for on an accruals basis and has been classified under the heading that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on the basis consistent with use of resources.

(f) Tangible Fixed Assets Tangible fixed assets costing more than £ 1000 are capitalised and included at cost including incidental expenses of acquisitions.

8

MASJID-E-SALAAM AND MADRASAH TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDING 30 APRIL 2021

(g) Depreciation

Depreciation is calculated on all tangible fixed assets on straight line basis at rates calculated on the cost of the asset over the useful economic life of the asset as follows:

Freehold Land 0%
Freehold Building 0%
Motor Vehicles 20%
Fixtures & Equipment 10%

(h) Investment Revaluation

None of the charity's functional fixed assets have been revalued during the year.

2. Cost of Charitable Activities

Wages, PAYE & Pension Costs
Honoriaium & Admin Payments
Rent & Rates
Heat & Light
Insurance
Repairs & Renewals
Equipment & Books (Kitaabs)
Functions & Activities Costs
Funeral Expenses
Advertising
Telephone
Postage, Stationery & Materials
Subscriptions, Licenses & Training Costs
Legal, Professional & Consultancy Fees
Motor & Travelling Costs
Bank Charges
Donations
Uniform Expenses
Cleaning Expenses
Sundry Expenses
Loss on Disposal of Investments
Depreciation		 2021
52,152
3,097
561
2,140
1,047
300
1,223
-
-
319
168
224
174
22,280
-
20
-
-
-
276
-
-
83,981		 2020
50,808
1,895
1,085
5,274
1,030
2,386
1,537
754
-
57
-
-
-
24,857
-
40
-
-
-
209
-
-
89,932

3. Trustees' - Related Party Transaction

There were no related party transactions nor were any payments made to trustees for any services rendered during the year.

2021
-
-
-
-		 2020
-
-
-
-

9

MASJID-E-SALAAM AND MADRASAH TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDING 30 APRIL 2021

4. Tangible Fixed Assets

Land &
Total
Property
£
Cost
As at 1 May 2020
748,048
728,648
Additions
-
-
Disposals
-
-
As at 30 April 2021
748,048
728,648
Depreciation
As at 1 May 2020
-
-
Charge for year
-
-
Disposals
-
-
As at 30 April 2021
-
-
Net book value
As at 30 April 2021
748,048
728,648
As at 30 April 2020
748,048
728,648
. Debtors & Prepayments
Gift Aid Payments
Prepayments
. Creditors: Amounts falling due within one year
Trade Creditors
Accruals & Other Creditors
. Creditors: Amounts falling due after one year
Loans		 Land &
Total
Property		 Capital
Motor
Improvements
Vehicles		 Fixtures &
Equipment
£
748,048
728,648
-
-
-
-		 £
19,400
-
-
-
-
-		 £
-
-
-
748,048
728,648		 19,400
-		 -
-
-
-
-
-
-		 -
-
-
-
-
-		 -
-
-
-
-		 -
-		 -
748,048
728,648		 19,400
-		 -
748,048
728,648		 19,400
-		 -
2021
-
-
-
2021
400
335
735
2021
-		 2020
-
-
-
2020
400
564
964
2020
-

5. Debtors & Prepayments

6. Creditors: Amounts falling due within one year

7. Creditors: Amounts falling due after one year

10