REGISTERED CHARITY NUMBER: 1088551
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
ISLAMIC CENTRE ABERDARE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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:
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The principal activity of the charity during the year was the advancement of the faith and religious practices of Islam.
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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 £65,569 (2023: £51,495) 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.
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ISLAMIC CENTRE ABERDARE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
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 M Sardar A Cakmak
Independent Examiner
Hadleys & Co. Ground Floor Import Building 2 Clove Crescent London E14 2BE
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ M Ahsan - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISLAMIC CENTRE ABERDARE
Independent examiner's report to the trustees of Islamic Centre Aberdare
I report to the charity trustees on my examination of the accounts of Islamic Centre Aberdare (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do 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 accounts to be reached.
Khalid Mehmood
Hadleys & Co. Ground Floor Import Building 2 Clove Crescent London E14 2BE
Date: .............................................
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ISLAMIC CENTRE ABERDARE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 65,569 Investment income 2 683 Total 66,252 EXPENDITURE ON Raising funds 3 14,109 Charitable activities Donations 2,959 Total 17,068 NET INCOME 49,184 RECONCILIATION OF FUNDS Total funds brought forward 261,432 TOTAL FUNDS CARRIED FORWARD 310,616 |
2023 Total funds £ 51,497 138 |
|---|---|
| 51,635 | |
| 25,482 22,550 |
|
| 48,032 | |
| 3,603 257,829 |
|
| 261,432 |
The notes form part of these financial statements
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ISLAMIC CENTRE ABERDARE
BALANCE SHEET 31 MARCH 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 223,171 CURRENT ASSETS Cash at bank 87,964 CREDITORS Amounts falling due within one year 7 (519) NET CURRENT ASSETS 87,445 TOTAL ASSETS LESS CURRENT LIABILITIES 310,616 NET ASSETS 310,616 FUNDS 8 Unrestricted funds 310,616 TOTAL FUNDS 310,616 |
2023 Total funds £ 227,272 34,678 (518) 34,160 261,432 261,432 261,432 261,432 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M Ahsan - Trustee
The notes form part of these financial statements
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ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 683 | 138 |
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continued...
ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Support costs | 14,109 | 25,482 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 51,497 |
| Investment income | 138 |
| Total | 51,635 |
| EXPENDITURE ON | |
| Raising funds | 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 |
continued...
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ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 261,432 TOTAL FUNDS 261,432 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 66,252 TOTAL FUNDS 66,252 |
Freehold property £ 255,867 28,595 4,101 32,696 223,171 227,272 2024 2023 £ £ 519 518 Net movement At in funds 31.3.24 £ £ 49,184 310,616 49,184 310,616 Resources Movement expended in funds £ £ (17,068) 49,184 (17,068) 49,184 |
Freehold property £ 255,867 |
Freehold property £ 255,867 |
|---|---|---|---|
| 28,595 4,101 |
|||
| 32,696 | |||
| 223,171 | |||
| 227,272 | |||
| 2023 £ 518 At 31.3.24 £ 310,616 |
|||
| 310,616 | |||
| 49,184 |
continued...
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ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 257,829 257,829 |
Net movement in funds £ 3,603 3,603 |
At 31.3.23 £ 261,432 |
|---|---|---|---|
| 261,432 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 51,635 | (48,032) | 3,603 |
| TOTAL FUNDS | 51,635 | (48,032) | 3,603 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 257,829 257,829 |
Net movement in funds £ 52,787 52,787 |
At 31.3.24 £ 310,616 |
|---|---|---|---|
| 310,616 |
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 | 117,887 | (65,100) | 52,787 |
| TOTAL FUNDS | 117,887 | (65,100) | 52,787 |
continued...
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ISLAMIC CENTRE ABERDARE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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ISLAMIC CENTRE ABERDARE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| FOR THE YEAR ENDED | 31 MARCH 2024 | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 65,569 | 51,497 |
| Investment income | ||
| Deposit account interest | 683 | 138 |
| Total incoming resources | 66,252 | 51,635 |
| EXPENDITURE | ||
| Charitable activities | ||
| Donations | 2,959 | 22,550 |
| Support costs | ||
| Management | ||
| Rates and water | 1,353 | 2,108 |
| Insurance | 1,571 | 873 |
| Light and heat | 2,285 | 865 |
| Telephone | 491 | 381 |
| Repairs and renewals | 3,788 | 16,634 |
| 9,488 | 20,861 | |
| Other | ||
| Freehold property | 4,102 | 4,102 |
| Governance costs | ||
| Accountancy and legal fees | 519 | 519 |
| Total resources expended | 17,068 | 48,032 |
| Net income | 49,184 | 3,603 |
This page does not form part of the statutory financial statements
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