REGISTERED CHARITY NUMBER: 1088551
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
ISLAMIC CENTRE ABERDARE
Hadleys & Co. Ground Floor Import Building 2 Clove Crescent London E14 2BE
ISLAMIC CENTRE ABERDARE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
ISLAMIC CENTRE ABERDARE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The organisation, Islamic Centre Aberdare, is a registered charity and was established by a Trust Deed made on the 6th July 2001 and registered with the Charity Commission. The charity is governed under the Trust Deed.
Islamic Centre Aberdare's main objectives are:
-
The principal activity of the charity during the year was the advancement of the faith and religious practices of Islam.
-
The advancement of education for the public benefit concerning the teachings and religion of Islam. During the year lectures were held to inform and educate the community.
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To carry our the five daily prayers in a congregation at the mosque everyday.
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The advancement of other charitable purposes for the benefit of the public, with a preference for Muslims, to provide recreational facilities and activities in the interests of social welfare with the object of improving the conditions of life for those persons in need of such facilities.
During the holy month of Ramadan the mosque organised social events where people congregate and break their fast together before proceeding to pray.
Significant activities
The principal activity of the charity during the period was the advancement of the faith and religious practices of Islam.
The advancement of education for the public benefit concerning the teachings and religion of Islam.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity continued its charitable activities throughout the year in accordance with its objectives. The charity received general donations of £51,495 (2022: £16,783) during the year.
FINANCIAL REVIEW
Principal funding sources
General donations from general public.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equate to approximately three to five months unrestricted expenditure. This provides sufficient funds to cover management, administrative and other related costs. Unrestricted funds were maintained at approximately this level throughout the period.
FUTURE PLANS
The charity will continue its operations as usual in the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The charity is small charity and it does not have a formal system in relation to the recruitment and appointment of trustees. The charity has an executive committee who is responsible for the recruitment and appointment of trustees; they follow Charity Commission guidelines in this area.
Page 1
ISLAMIC CENTRE ABERDARE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1088551
Principal address
Islamic Centre Aberdare Philip Street Aberdare, RCT CF44 8ET
Trustees
A Rashid M A Malik M Ahsan M A Khaliq U Cetin (appointed 4.5.22) M Sardar (appointed 4.5.22)
Approved by order of the board of trustees on 1 October 2023 and signed on its behalf by:
M Ahsan - Trustee
Page 2
ISLAMIC CENTRE ABERDARE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 51,497 Investment income 2 138 Total 51,635 EXPENDITURE ON Raising funds 3 25,482 Charitable activities Donations 22,550 Total 48,032 NET INCOME 3,603 RECONCILIATION OF FUNDS Total funds brought forward 257,829 TOTAL FUNDS CARRIED FORWARD 261,432 |
2022 Total funds £ 16,783 3 |
|---|---|
| 16,786 | |
| 5,521 10,775 |
|
| 16,296 | |
| 490 257,339 |
|
| 257,829 |
The notes form part of these financial statements
Page 3
ISLAMIC CENTRE ABERDARE
BALANCE SHEET 31 MARCH 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 227,272 CURRENT ASSETS Cash at bank and in hand 34,678 CREDITORS Amounts falling due within one year 7 (518) NET CURRENT ASSETS 34,160 TOTAL ASSETS LESS CURRENT LIABILITIES 261,432 NET ASSETS 261,432 FUNDS 8 Unrestricted funds 261,432 TOTAL FUNDS 261,432 |
2022 Total funds £ 231,374 27,085 (630) 26,455 257,829 257,829 257,829 257,829 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 1 October 2023 and were signed on its behalf by:
M Ahsan - Trustee
The notes form part of these financial statements
Page 4
ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Taxation
The charity is exempt from tax on its charitable activities.
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 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Deposit account interest | 138 | 3 |
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continued...
ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Support costs | 25,482 | 5,521 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 16,783 |
| Investment income | 3 |
| Total | 16,786 |
| EXPENDITURE ON | |
| Raising funds | 5,521 |
| Charitable activities | |
| Donations | 10,775 |
| Total | 16,296 |
| NET INCOME | 490 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 257,339 |
| TOTAL FUNDS CARRIED FORWARD | 257,829 |
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continued...
ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 and 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 257,829 TOTAL FUNDS 257,829 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 51,635 TOTAL FUNDS 51,635 |
Freehold property £ 255,867 24,493 4,102 28,595 227,272 231,374 2023 2022 £ £ 518 630 Net movement At in funds 31.3.23 £ £ 3,603 261,432 3,603 261,432 Resources Movement expended in funds £ £ (48,032) 3,603 (48,032) 3,603 |
|---|---|
continued...
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ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.21 £ Unrestricted funds General fund 257,339 TOTAL FUNDS 257,339 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 16,786 TOTAL FUNDS 16,786 |
Net movement At in funds 31.3.22 £ £ 490 257,829 490 257,829 Resources Movement expended in funds £ £ (16,296) 490 (16,296) 490 |
At 31.3.22 £ 257,829 |
At 31.3.22 £ 257,829 |
|---|---|---|---|
| 257,829 | |||
| 490 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.21 £ 257,339 257,339 |
Net movement in funds £ 4,093 4,093 |
At 31.3.23 £ 261,432 |
|---|---|---|---|
| 261,432 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 68,421 | (64,328) | 4,093 |
| TOTAL FUNDS | 68,421 | (64,328) | 4,093 |
continued...
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ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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ISLAMIC CENTRE ABERDARE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| FOR THE YEAR ENDED | 31 MARCH 2023 | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 51,497 | 16,783 |
| Investment income | ||
| Deposit account interest | 138 | 3 |
| Total incoming resources | 51,635 | 16,786 |
| EXPENDITURE | ||
| Charitable activities | ||
| Donations | 22,550 | 7,155 |
| Support costs | ||
| Management | ||
| Rates and water | 2,108 | 946 |
| Insurance | 873 | 1,369 |
| Light and heat | 865 | 1,331 |
| Telephone | 381 | 376 |
| Sundries | - | 89 |
| Repairs and renewals | 16,634 | 298 |
| 20,861 | 4,409 | |
| Other | ||
| Freehold property | 4,102 | 4,102 |
| Governance costs | ||
| Accountancy and legal fees | 519 | 630 |
| Total resources expended | 48,032 | 16,296 |
| Net income | 3,603 | 490 |
This page does not form part of the statutory financial statements
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