## **CHARITY REGISTRATION NUMBER:  1096111** 

## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **CONSOLIDATED FINANCIAL STATEMENTS** 

**31 DECEMBER 2020** 

## **FAIRMAN DAVIS** 

**Chartered Accountants & Statutory Auditors Suite 16, Exhibition House Addison Bridge Place London W14 8XP** 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020** 

|Trustee's' Annual Report<br>Independent Auditor's Report to the Members<br>Consolidated Statement of Financial Activities<br>Consolidated Balance Sheet<br>Balance Sheet (Charity)<br>Consolidated Statement of Cash Flows<br>Notes to the Financial Statements|**Page**|
|---|---|
||**1**<br>**6**<br>**8**<br>**9**<br>**10**<br>**11**<br>**12**|





## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **TRUSTEES' ANNUAL REPORT YEAR ENDED 31 DECEMBER 2020** 

The trustees present their report and the financial statements of the Charity for the year ended 31 December 2020. 

## **Reference and Administrative Details** 

|Registered Charity No:|1096111 (England & Wales)||
|---|---|---|
|Principal Office|The Council of European Jamaats||
||Unit 101, 1st floor||
||Metroline House, 118-122 College Road||
||HA1 1BQ||
|**Trustees:**|Dr Akber Mohamedali||
||Mr Mahmood Hooda||
||Mr Murtaza Bharwani||
||Mr Mohamed Hassan Visram|Appointed 23/04/2020|
||Mr Arif Hiridjee||
||Mr Tawfiq Jivraj||
||Mr Murtaza Gulamhusein||
||Mrs Waheeda Rahim||
||Dr Husein Jiwa||
||Syed Mohammed Naqvi||
||Miss Esmat Jeraj||
||Mr Makbul Jaffer||
||Mr Salim Hamir||
||Dr Rizwan Alidina||
||Mrs Ismat Ramji||
||Mr Imran Najafi||
||Mr Rasool Bhamani||
||Mr Fayyaz Haji||
||Mr Salim Govani||
||Mr Mukhtarali Hirani||
||Mr Hussein-Ali Rahemtulla||
||Mr Mohamedtaki Mohamedali Jaffer||
||Mr Kamran Shah||
||Mr Shaneabbas Fidahussein Rajani||
||Mr Komeil Rajani||
||Mr Shakir Rahemtulla||
||Mrs Mariam Hassam||
||Mr Rizwan Rahemtulla||
||Mr Irad Michael Hassanaly|Appointed 02/04/2020|
||Mr Mohammed Mohsin Asaria|Appointed 30/06/2020|
||Dr Hassanali Dewji|Appointed 30/06/2020|
||Mr Hamid Pirbhai|Appointed 04/10/2020|
||Mr Sibtain Allibhai|Appointed 04/10/2020|
||Mr Moshin Kassam|Appointed 04/10/2020|
||Mr Soudjad Cassam Chenai|Appointed 31/12/2020|
||Mr Azad Hedaraly|Resigned 31/12/2020|
||Mr Mohammed Mohsin Asaria|Resigned 26/02/2020|
||Mr Sibtain Raffiq-Fazal|Resigned 30/03/2020|
||Mr Azim Jetha|Resigned 02/04/2020|
||Mr Abbas Datoo|Resigned 30/06/2020|
||Mr Sarfraz Jeraj|Resigned 30/06/2020|
||Dr Munir Datoo|Resigned 04/10/2020|
||Mr Altaf Daya|Resigned 04/10/2020|
||Mr Muzaffer Sultanali Rashid|Resigned 04/10/2020|



Auditors: 

Fairman Davis Chartered Accountants & Statutory Auditor Suite 16, Exhibition House Addison Bridge Place London W14 8XP 

Page 1 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **TRUSTEES’ ANNUAL REPORT** _**(continued)**_ **YEAR ENDED 31 DECEMBER 2020** 

## **Bankers:** 

Habib Bank AG Zurich                        National Westminster Bank PLC Habib House                                      Cathedral Square 42 Moorgate, London                          Peterborough EC2R 6JJ                                          PE1 1XH 

## **Structure, Governance and Management** 

The Charity is governed by its constitution and is constituted as a charitable trust. The constitution was adopted on 15 December 2002 and as amended on 01 December 2013. 

The trustees of The Council of European Jamaats  are the members of the council of management. They are for the purposes of the constitution, officers of the charity. 

The trustees are responsible for the overall management and control of the charity and meet regularly to manage its affairs. Staff resources are divided into religious, finance and administration. 

## **Objectives and Activities** 

The object for which the Charity has been established is to promote and advance the Islamic Religion in accordance with the principles of the Shia Ithna-Asheri faith. The Charity through its Executive Committee shall have the power: 

(a) To encourage the practice of the Islamic Religion as taught by Shia Ithna-Asheri Sharia throughout Europe 

(b) To eradicate poverty 

(c) To advance education amongst the community. 

(d) To relieve those in need by reason of youth, age, ill health, and disability, financial hardship or other disadvantages 

(e) To do all such others things as shall further the above-mentioned object. 

The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives, in planning future activities, and setting the grant making policy for the year. 

In addition to the above objectives, during 2020 the Charity intends to hold courses, covering a variety of academic subjects at various levels to assist students in their quest for educational excellence. 

The Charity also aims to foster closer relationships amongst the elderly by facilitating various meetings and seminars as well as holding social events in the year. 

Page 2 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **TRUSTEES’ ANNUAL REPORT** _**(continued)**_ **FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **Achievements and Performance** 

The trustees are pleased that the achievements and performance of the Trust, as set out below, demonstrate concrete progress during the year. 

The Charity has organised several events, activities and programmes to fulfil its objectives using all mediums at its disposal to promote the services provided. 

Amongst the activities held during the year were the following: 

- Publishing: 

   - Regular publications for members 

   - Religious materials for use by members 

   - Arranging seminars and events 

- Organising: 

   - Media training 

   - Seminars and events for women and senior citizens 

   - Annual conferences for religious scholars and students 

   - Fund raising activities for a number of relief and humanitarian projects 

- Enhancing relationships with other charities 

- Working with government departments and Charity Commission on mutual projects 

- Promotion of education, both secular and religious through seminars, courses and  camps 

- Provide Mediation Services 

- Revamp and maximize the utilization of the Charity's website 

- Due to COVID-19 Pandemic, many of CoEJ Projects had to be cancelled. 

There has been continued growth of the Charity over the past several years. We have now doubled our volunteer base, so the number of volunteers is increasing exponentially. Developments and improvements across all main areas during 2019 have enabled the Charity to enhance its services to its members. 

## **Financial Review** 

The results of the Group’s activities are shown on pages 8 to 23 of the financial statements. 

The Incoming Resources of the Group increased by 36% to £3,162,382 and the Outgoing Group’s Resources increased by 33% to £3,104,897. 

At the balance sheet date, the Charity has voluntary designated funds amounting to £350,225 (2019 - £293,294). These funds comprise gift aid donations. 

Designated funds are unrestricted funds consisting of amounts allocated by the trustees for Charity purposes. Investment income is allocated to the unrestricted funds. 

General funds amounted to £805,409 (2019 - £758,096) at the balance sheet date. These are unrestricted funds which are available for use at the discretion of the trustees to further the general objects of the Charity and which have not been designated for other purposes. 

Restricted funds comprise unexpended balances of donations held on trust to be applied for specific purposes. 

Page 3 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **TRUSTEES’ ANNUAL REPORT** _**(continued)**_ **FOR THE YEAR ENDED 31 DECEMBER 2020** 

Since October 2018, there have been numerous issues with respect to the investment held within CoEJ Investments Ltd. The Trustees have been working diligently with Independent Counsel to ensure the Charity is protected, as well as, trying to secure the investment longer term. The trustees have also made a full impairment provision against the assets in 2018 and subsequently the company is now liquidated. 

With respect to the Charity’s other subsidiary, European Hajj Company Limited, the unprecedented and rapid spread of COVID-19 has put a temporary restriction on the performance of the company's activities. Therefore during this period the company did not carry out the activities from which it generates most of its income. 

In the year, the Charity has invested the sum of £15,000 with a view of receiving regular return on their investment. 

## **Key Management Personnel Remuneration** 

The Office Bearers, comprising the President, Vice President, Secretary General, Treasurer, Assistant Secretary General and Assistant Treasurer are considered to be the key management personnel of the Charity, in charge of directing and controlling the Charity and running its day to day operations. All trustees give of their time freely and no trustee remuneration was paid in the year. 

Trustees are required to disclose all relevant interests and register them with the Board of Trustees, and, in accordance with the Trust’s policy, withdraw from decisions where a conflict of interest arises. 

Details of trustee expenses and related party transactions are disclosed in note 18 to the accounts. 

## **Risk Management** 

The trustees have assessed the major risks to which the charity may be exposed, in particular those relating to meeting payments to suppliers and the use of restricted funds. The trustees are also satisfied that systems are in place to mitigate exposure to these risks and the processes implemented are designed to minimise any impact on the Charity, should any of these risks materialise. 

## **Reserves Policy** 

The trustees aim to maintain reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure approximately £90,000. The trustees consider that a level of three months will provide sufficient funds to cover any unexpected expenditure requirements. 

## **Plans for Future Periods** 

With respect to the charity, 2021 will be a difficult year. The ongoing and unprecedented potential impact of COVID19 has put a temporary restriction on the current and future activities and is closely being monitored as the restrictions are eased in the coming months. 

Page 4 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **TRUSTEES’ ANNUAL REPORT** _**(continued)**_ **YEAR ENDED 31 DECEMBER 2020** 

## **Fundraising Policy** 

Although the charity is not a member of the Institute of Fundraising it does however abide by the principles of good fundraising practices. The charity doesn’t work with or employ third party fundraisers. A complain policy is in operation and the trustees are pleased to confirm that no complain on fundraising or any other matter has come to light. 

## **Trustees' Responsibilities Statement** 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the Charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period. 

In preparing these financial statements, the trustees are required to: 

• select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the applicable Charities SORP; 

• make judgments and accounting estimates that are reasonable and prudent; 

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. 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. 

The trustees' annual report was approved on **08/09/2021** and signed on behalf of the board of 

trustees by: 























__________________                                                       ____________________ 

Dr A Mohamedali                                                              Mr M Visram President                                                                         Treasurer 

Page 5 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE COUNCIL OF EUROPEAN JAMAATS YEAR ENDED 31 DECEMBER 2020** 

## **Opinion** 

We have audited the financial statements of The Council of European Jamaats (the “Charity”) for the year ended 31 December 2019 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the Charity’s affairs as at 31 December 2020 and of its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for Opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions Relating to Going Concern** 

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: 

- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or 

• the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. 

## **Other Information** 

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

Page 6 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE COUNCIL OF EUROPEAN JAMAATS** _**(continued)**_ **YEAR ENDED 31 DECEMBER 2020** 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not obtained all the information and explanations necessary for the purposes of our audit. 

## **Responsibilities of the Trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the Audit of the Financial Statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report. 

## **Use of our Report** 

This report is made solely to the Charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed 

**………………………………………..** Fairman Davis Chartered Accountants & Statutory Auditors Suite 16, Exhibition House Addison Bridge Place, London W14 8XP 

Date: 

Page 7 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2020** 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Notes|Funds|Funds|Total Funds|Total Funds|
|2020|2020|2020|2019|
|£|£|£|£|
|Income and Endowments|
|Donations and Legacies|4|213,710|2,945,798|3,159,508|1,749,433|
|Other Income|5|-|7,170|7,170|562,865|
|Total Income|213,710|2,952,968|3,166,678|2,312,298|
|Expenditure|
|Expenditure on Charitable Activities|6,7|(168,029)|(2,929,753)|(3,097,782)|(1,843,835)|
|Other Expenditure|8|-|(7,164)|(7,164)|(477,285)|
|Total Expenditure|(168,029)|(2,936,917)|(3,104,946)|(2,321,120)|
|Operating Income|45,682|16,051|61,733|(8,822)|
|Revaluation of Tangible Fixed Assets|-|-|-|-|
|Impairment of Tangible Fixed Assets|-|-|-|-|
|-|-|-|-|
|Net Income|45,682|16,051|61,733|(8,822)|
|Reconciliation of Funds|
|Total funds brought forward|982,107|75,879|1,057,985|1,066,807|
|Total funds carried forward|1,027,789|91,930|1,119,718|1,057,985|

**----- End of picture text -----**<br>


The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

Page 8 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2020** 

|**Notes**<br>£<br>£<br>**Fixed Assets**<br>Tangible Fixed Assets<br>**12**<br>-<br>Investment Property<br>**14**<br>270,000<br>Investment<br>645,107<br>915,107<br>**Current Assets**<br>Debtors<br>**15**<br>493,787<br>Cash at Bank and in Hand<br>**16**<br>241,686<br>735,473<br>**CREDITORS : amounts falling due within one year**<br>**17**<br>(530,860)<br>**NET CURRENT ASSETS**<br>204,612<br>**Total Assets less Current Liabilities**<br>**1,119,719**<br>**Net Assets**<br>1,119,719<br>**Funds**<br>Restricted Funds<br>**21**<br>91,930<br>Unrestricted Funds<br>**21**<br>1,027,789<br>**Total Charity Funds**<br>1,119,719<br>**2020**|£<br>£<br>1,515<br>270,000<br>630,208<br>901,723<br>358,490<br>189,713<br>548,203<br>(391,940)<br>156,263<br>**1,057,985**<br>1,057,985<br>75,879<br>982,107<br>1,057,985<br>**2019**|
|---|---|



These financial statements were approved by the board of trustees and authorised for issue on **08/09/2021** and are signed on behalf of the board by: 



**………………………………………..** 

**Dr A Mohamedali President** 









**………………………………………..** 

**Mr M Visram Treasurer** 

Page 9 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **BALANCE SHEET (CHARITY) AS AT 31 DECEMBER 2020** 

|**Notes**<br>£<br>£<br>**Fixed Assets**<br>Tangible Assets<br>**12**<br>270,000<br>Investments<br>**13**<br>645,208<br>915,208<br>**Current Assets**<br>Debtors<br>**15**<br>463,436<br>Cash at Bank and in Hand<br>**16**<br>156,993<br>620,429<br>**CREDITORS : amounts falling due within one year**<br>**17**<br>(387,948)<br>**NET CURRENT ASSETS**<br>232,481<br>**Total Assets less Liabilities**<br>**1,147,689**<br>**Net Assets**<br>1,147,689<br>**Funds**<br>Restricted Funds<br>**21**<br>50,019<br>Unrestricted Funds<br>**21**<br>1,097,670<br>**Total Charity Funds**<br>1,147,689<br>**2020**|**2019**<br>£<br> <br>1,515<br> <br>630,208<br> <br>631,723<br>641,187<br>154,504<br>795,692<br>(342,051)<br> <br>453,641<br> <br>**1,085,363**<br> <br>1,085,363<br> <br>33,974<br> <br>1,051,390<br> <br>1,085,363|
|---|---|



These financial statements were approved by the board of trustees and authorised for issue on **08/09/2021** and are signed on behalf of the board by: 



**………………………………………..** 

**Dr A Mohamedali President** 











**……………………………………….. Mr M Visram Treasurer** 

Page 10 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2020** 

|**Cash Flows from Operating Activities**<br>Net Income for the year<br>Adjustments for:<br>Dividends, Interest and Rents from Investments<br>Depreciation<br>(Increase)/Decrease in Debtors<br>Increase/(Decrease) in Creditors<br>**Net Cash from Operating Activities**<br>**Cash flows from Investing Activities**<br>Dividends, Interest and Rents Received from Investments<br>Purchase of Investments<br>Purchase of Fixed Assets<br>**Net Cash (used in) Investing Activities**<br>**Change is Cash and Cash Equivalents in the year**<br>Cash and Cash Equivalents at the beginning of the year<br>**Cash and Cash Equivalents at end of year**|**2020**<br>**2019**<br>£<br>£<br>61,733<br>(8,822)<br>-<br>(87,737)<br>1,515<br>3,121<br>(135,196)<br>(323,821)<br>138,920<br>281,427<br>**66,972**<br>**(135,832)**<br>-<br>87,737<br>(15,000)<br>(100,002)<br>(881)<br>**(15,000)**<br>**(13,146)**<br>51,972<br>(148,978)<br>189,714<br>338,692<br>**241,686**<br>**189,714**|
|---|---|



Page 11 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020** 

## **1.      General Information** 

The Charity is a registered charity in England and Wales and is unincorporated. The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **2.      Statement of Compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## **3.      Accounting Policies** 

## **Basis of Preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

## **Basis of Consolidation** 

The financial statements consolidate the results of the Charity and its subsidiary undertakings on a line-by-line basis. The entities consolidated are those as listed in note 21 and 22 of the accounts with further analysis provided in respect to these subsidiaries. A separate Statement of Financial Activities for the Charity has not been presented as the Charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. The surplus of the parent Charity was £58,077  (2019: £10,613 deficit). Uniform SORP accounting policies have been applied. 

## **Going Concern** 

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. 

## **Fund Accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the Charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

## **Incoming Resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the Charity; it is probable that the economic benefits associated with the transaction will flow to the Charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is confirmed and its amount can be measured reliably 

Page 12 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ **YEAR ENDED 31 DECEMBER 2020** 

## **3.      Accounting Policies** _**(continued)**_ 

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

## **Resources Expended** 

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Tangible Assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Leasehold property     -    over the life of the asset Fixtures and Fittings   -    20% straight line Equipment                 -    20% straight line 

## **Investments** 

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 

Page 13 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ **YEAR ENDED 31 DECEMBER 2020** 

## **3.      Accounting Policies** _**(continued)**_ 

Investment properties are measured initially at cost, and subsequently at fair value at the reporting date. 

## **Financial Instruments** 

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. 

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. 

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 

For all equity instruments,’ regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 

Page 14 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

**NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

|**4**<br>**_Consolidated_**<br>**Donations**<br>Donations<br>Subscriptions<br>East Africa Trip<br>Marriage Seminar<br>Madinah & Bab<br>Other Misc. Activities<br>MAMT<br>Leadership Development Program<br>Mediation<br>Seniors Trip<br>CoEJ/WF Heritage Project<br>Wellbeing<br>Womens Retreat<br>Young Girls Camp<br>Youth Conference<br>Summer Camp<br>Madrasah Centre of Excellence<br>WF Grant<br>Government Grant<br>COVID funds<br>Gift Aid Income<br>Rent Infome - Mobile Homes<br>Rent Income - Properties<br>General Donations (note 19)<br>Donation from KSIMC Ltd<br>**_Charity_**<br>**Donations**<br>Donations<br>Subscriptions<br>Marriage Seminar<br>Madinah & Bab<br>MAMT<br>Leadership Development Program<br>Mediation<br>Seniors Trip<br>CoEJ/WF Heritage Project<br>Wellbeing<br>Women's Retreat<br>Young Girls Camp<br>Youth Conference<br>Summer Camp<br>Madrasah Centre of Excellence<br>WF Grant<br>Government Grant<br>COVID funds<br>Gift Aid Income<br>General Donations<br>Donation from CoEJ Investments Ltd<br>Rent Infome - Mobile Homes<br>Rent Income - Properties<br>Donation from KSIMC Ltd<br>Donation from European Hajj Company<br>Other Miscellaneous Activities<br>**5.**<br>**Other Income - Consolidated**<br>Hajj Income- European Hajj Company Ltd<br>Rent Receivable- CoEJ Investments Ltd<br>**_Previous Year_**<br>Hajj Income- European Hajj Company Ltd<br>Rent Receivable- CoEJ Investments Ltd<br>**Donations and Legacies**|**Restricted**<br>**Total Funds**<br>**Total Funds**<br>**Funds**<br>**2020**<br>**2019**<br>£<br>£<br>£<br>£<br>54,568<br>54,568<br>59,144<br>22,177<br>22,177<br>12,770<br>-<br>-<br>0<br>80<br>80<br>0<br>-<br>-<br>24,678<br>-<br>-<br>0<br>588<br>588<br>46,167<br>700<br>700<br>14,850<br>2,320<br>2,320<br>2,841<br>-<br>-<br>14,755<br>-<br>-<br>6,565<br>1,080<br>1,080<br>2,618<br>-<br>-<br>3,138<br>(850)<br>(850)<br>3,950<br>50<br>50<br>-<br>-<br>2,000<br>6,606<br>6,606<br>15,212<br>-<br>-<br>70,000<br>20,789<br>20,789<br>5,749<br>5,749<br>56,931<br>56,931<br>27,196<br>-<br>-<br>25,000<br>13,483<br>13,483<br>4,732<br>-<br>2,945,798<br>2,945,798<br>1,380,385<br>29,440<br>29,440<br>33,430<br>**213,710**<br>**2,945,798**<br>**3,159,508**<br>**1,749,433**<br>**Restricted**<br>**Total Funds**<br>**Total Funds**<br>**Funds**<br>**2020**<br>**2019**<br>**£**<br>**£**<br>**£**<br>**£**<br>54,568<br>54,568<br>59,144<br>22,177<br>22,177<br>12,770<br>80<br>80<br>0<br>-<br>-<br>24,678<br>588<br>588<br>46,167<br>700<br>700<br>14,850<br>2,320<br>2,320<br>2,841<br>-<br>-<br>14,755<br>-<br>-<br>6,565<br>1,080<br>1,080<br>2,618<br>-<br>-<br>3,138<br>(850)<br>(850)<br>3,950<br>50<br>50<br>0<br>-<br>-<br>2,000<br>6,606<br>6,606<br>15,212<br>-<br>-<br>70,000<br>20,789<br>20,789<br>0<br>5,749<br>5,749<br>0<br>56,931<br>56,931<br>27,196<br>-<br>2,945,798<br>2,945,798<br>1,380,385<br>599<br>599<br>90,000<br>-<br>-<br>25,000<br>13,483<br>13,483<br>4,732<br>29,440<br>29,440<br>33,430<br>-<br>-<br>-<br>-<br>-<br>-<br>**214,309**<br>**2,945,798**<br>**3,160,107**<br>**1,839,433**<br>£<br>£<br>£<br> <br>-<br>7,170<br>7,170<br>-<br>-<br>-<br>**-**<br>**7,170**<br>**7,170**<br>£<br>£<br>£<br> <br>-<br>475,128<br>475,128<br>87,737<br>-<br>87,737<br>**87,737**<br>**475,128**<br>**562,866**<br>**Unrestricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total Funds 2020**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total Funds 2019**|
|---|---|



Page 15 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

**6. Expenditure on Charitable Activities -** _**Consolidated**_ 

|Madinah & Bab<br>MAMT- Gents<br>Leadership Development Program<br>Women Retreat<br>Young Girls Camp<br>Marriage Seminar<br>Ucas<br>Summer Camp<br>Mediation<br>Madressa of Excellence<br>Media Training<br>Seniors Trip<br>Seniors Gathering<br>Seniors Retreat<br>CoEJ/WF Heritage Project<br>Wellbeing<br>Eid Gifts<br>Women Empowerment<br>Other Misc. Activities<br>CoEJ Academy<br>CoEJ Sports<br>Other Donations<br>Support Costs (Note 7)<br>Other Charitable Activities (Note 19)<br>Donation to EHC|£<br>£<br>£<br>£<br>-<br>-<br>-<br>24,678<br>100<br>-<br>100<br>56,803<br>4,691<br>-<br>4,691<br>12,148<br>-<br>-<br>-<br>3,626<br>-<br>-<br>-<br>3,903<br>-<br>-<br>-<br>250<br>-<br>-<br>-<br>40<br>-<br>-<br>-<br>330<br>8,736<br>-<br>8,736<br>2,260<br>240<br>-<br>240<br>4,387<br>-<br>-<br>-<br>270<br>-<br>-<br>-<br>15,179<br>-<br>-<br>-<br>2,100<br>-<br>-<br>-<br>169<br>951<br>-<br>951<br>4,275<br>200<br>-<br>200<br>5,768<br>100<br>-<br>100<br>100<br>-<br>-<br>-<br>190<br>-<br>-<br>-<br>944<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>4,671<br>38,684<br>-<br>38,684<br>13,980<br>114,326<br>-<br>114,326<br>146,972<br>-<br>2,929,753<br>2,929,753<br>1,540,695<br>-<br>-<br>-<br>100<br>**168,029**<br>**2,929,753**<br>**3,097,782**<br>**1,843,835**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total 2020**<br>**Total 2019**|
|---|---|



## **7. Expenditure on Charitable activities - Support Costs** _**Charity**_ 

|Rent<br>Rates<br>Photocopier Rental<br>Travelling<br>Meeting Expenses<br>Printing ,Postage and Stationary<br>Telephone & Internet<br>Cleaning<br>Software & website<br>ID Checks<br>Legal Fees<br>Professional Fees<br>Insurance<br>Refurbishment Expenses<br>Forex Loss<br>Bank & Card Charges<br>Marketing<br>Salaries & Social Security costs<br>Audit Fees<br>Recruitment Expenses<br>General Expenses<br>Subscription<br>Depreciation|**2020**<br>£<br>9,072<br>993<br>2,006<br>-<br>569<br>275<br>1,262<br>130<br>6,944<br>1,530<br>8,659<br>600<br>1,739<br>-<br>-<br>1,613<br>15<br>72,675<br>3,000<br>-<br>358<br>1,370<br>1,515<br>**114,326**|**2019**<br>£<br>19,464<br>978<br>1,517<br>2,956<br>86<br>842<br>1,740<br>510<br>3,391<br>3,416<br>10,004<br>-<br>2,260<br>-<br>-<br>2,867<br>5,336<br>80,928<br>3,000<br>1,757<br>654<br>2,145<br>3,121<br>**146,972**|
|---|---|---|



Page 16 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **)** 

## **8. Other Expenditure** 

|Hajj Costs<br>Cahritable Donations<br>Administrative Costs<br>Advertising<br>Insurance<br>Bank Charges<br>Computer Running Cost<br>Legal & Professional Fees<br>Subscriptions<br>Audit Fees<br>Profit or Loss on Foreign Exchange<br>Depreciation<br>Taxation<br>**_Previous Year_**|£<br>£<br>£<br>-<br>920<br>920<br>-<br>-<br>-<br>-<br>681<br>681<br>-<br>-<br>-<br>-<br>910<br>910<br>-<br>12<br>12<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>1,028<br>1,028<br>-<br>1,200<br>1,200<br>-<br>2,412<br>2,412<br>-<br>-<br>-<br>-<br>1<br>1<br>**-**<br>**7,164**<br>**7,164**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total Funds 2020**|
|---|---|



|Hajj Costs<br>Repairs<br>Administrative Costs<br>Insurance<br>Bank Charges<br>Charitable Donations<br>Legal & Professional Fees<br>Subscriptions<br>Audit Fees<br>Depreciation<br>Taxation<br>**Net Income**<br>Net Income is stated after charging/(crediting):<br>Audit Fees<br>Depreciation of Tangible Fixed Assets|£<br>-<br>-<br>28<br>-<br>-<br>30<br>-<br>3,838<br>-<br>-<br>-<br>**3,896**<br>**Unrestricted**<br>**Funds**|£<br>465,750<br>-<br>1,600<br>1,000<br>910<br>38<br>1,200<br>-<br>1,283<br>1,200<br>408<br>**473,389**<br>**2020**<br>£<br>4,200<br>1,515<br>**Restricted**<br>**Funds**|£<br>465,750<br>-<br>1,628<br>1,000<br>910<br>68<br>1,200<br>3,838<br>1,283<br>1,200<br>408<br>-<br>**477,285**<br>**2019**<br>£<br>4,200<br>3,121<br>**Total Funds 2019**|
|---|---|---|---|



## **9. Net Income** 

Page 17 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

## **10. Staff Costs** 

The total staff costs and employee remuneration for the reporting period are analysed as follows: 

|Wages and salaries<br>Social security costs<br>Pension|**2020**<br>**2019**<br>£<br>£<br>69,039<br>77,353<br>1,214<br>2,089<br>853<br>1,486<br>**71,106**<br>**80,928**|
|---|---|



The average head count of employees during the year was 5  (2019:5). 

During the year, due to COVID-19, 3 staff members were furloughed from 01 April 2020. Total Job Retention Scheme grant received £20,789. 

These employees were subsequently made redundant on 30 September 2020 

The key management personnel of the charity comprise trustees. 

## **11. Trustee Remuneration and Expenses** 

No remuneration from employment with the Charity or a related entity were received by the trustees in this or the previous year. 

Travelling expenses amounting to £ 0.00  (2019: £2,955.69) were incurred by the trustees 

Page 18 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS** 

## **NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

## **12. Tangible Fixed Assets** _**Consolidated**_ 

|**Cost**<br>At 1 January 2020<br>Additions<br>Disposals<br>**At 31 December 2020**<br>**Depreciation**<br>At 1 January 2020<br>Charge for the year<br>**At 31 December 2020**<br>**Carrying Amount**<br>**At 31 December 2020**<br>At 31 December 2019<br>**_Charity_**<br>**Cost**<br>At 1 January 2020<br>Additions<br>**At 31 December 2020**<br>**Depreciation**<br>At 1 January 2020<br>Charge for the year<br>**At 31 December 2020**<br>**Carrying Amount**<br>**At 31 December 2020**<br>At 31 December 2019<br>**13.**<br>**Investment**<br>At 1 January 2020<br>Additions<br>**At 31 December 2020**<br>At 31 December 2019<br>**14.**<br>**Investment Property**<br>**At 31 December 2020**<br>At 31 December 2019<br>During the year the Charity made invest<br>owns 12.80% of the 2 companies.|£<br>-<br>-<br>**-**<br>-<br>-<br>**-**<br>**-**<br>-<br>**Land and**<br>**Buildings**<br>ment in KSIMC Inv|£<br>£<br>£<br> <br>270,000<br>23,394<br>36,699<br>330,093<br> <br>270,000<br>-<br>-<br>270,000<br>(270,000)<br>(270,000)<br> <br>**270,000**<br>**23,394**<br>**36,699**<br>**330,093**<br> <br>-<br>22,584<br>35,995<br>58,579<br> <br>-<br>809<br>705<br>1,515<br> <br>**-**<br>**23,394**<br>**36,699**<br>**60,094**<br> <br>**270,000**<br>**-**<br>**-**<br>**270,000**<br> <br>-<br>**810**<br>**705**<br>**1,515**<br>**£**<br>£<br>£<br>£<br>-<br>23,394<br>36,699<br>60,093<br>270,000<br>-<br>-<br>-<br>**270,000**<br>**23,394**<br>**36,699**<br>**60,093**<br>-<br>22,584<br>35,995<br>58,579<br>-<br>809<br>705<br>1,515<br>**-**<br>**23,394**<br>**36,699**<br>**60,094**<br>**270,000**<br>**-**<br>**-**<br>**270,000**<br>-<br>810<br>705<br>**1,515**<br>**Total**<br>£<br>630,208<br>15,000<br>**645,208**<br>630,208<br>**Total**<br>£<br>**270,000**<br>270,000<br>**Fixtures and**<br>**Fittings**<br>**Equipment**<br>**Total**<br>**Fixtures and**<br>**Fittings**<br>**Equipment**<br>**Total**<br>estments Limited and KSIMC Residential Limited. The Charity financially<br>**Investment**<br>**Property**<br>**Investment**<br>**Property**|
|---|---|---|



Page 19 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

## **15. Debtors** 

|**_Consolidated_**<br>Prepayments and Accrued Income<br>Other Debtors<br>**_Charity_**<br>Prepayments and Accrued Income<br>Other Debtors<br>**Cash at hand**<br>**_Consolidated_**<br>Current accounts and deposit accounts<br>Cash in hand<br>**_Charity_**<br>Current accounts and deposit accounts<br>Cash in hand|**2020**<br>**2019**<br>£<br>£<br>99,558<br>54,810<br>394,229<br>303,680<br>**493,787**<br>**358,490**<br>**2020**<br>**2019**<br>£<br>£<br>(17)<br>5,183<br>463,453<br>636,004<br>**463,436**<br>**641,187**<br>**2020**<br>**2019**<br>**£**<br>**£**<br>241,616<br>188,872<br>70<br>841<br>**241,686**<br>**189,713**<br>**2020**<br>**2019**<br>**£**<br>**£**<br>156,923<br>153,663<br>70<br>841<br>**156,993**<br>**154,504**|
|---|---|



## **16. Cash at hand** 

## **17. Creditors: amounts falling due within one year** 

_**Consolidated**_ 

|**_Consolidated_**<br>Trade Creditors<br>Accruals<br>Other Creditors<br>**_Charity_**<br>Trade Creditors<br>Accruals<br>Other Creditors|**2020**<br>**2019**<br>£<br>£<br>39,941<br>54,450<br>23,419<br>19,990<br>467,500<br>317,500<br>**530,860**<br>**391,940**<br>**2020**<br>**2019**<br>£<br>£<br>560<br>6,661<br>19,888<br>17,890<br>367,500<br>317,500<br>**387,948**<br>**342,051**|
|---|---|



## **18. Subsidiary Company** 

|Included in Debtors are amount due from:|**2020**|**2019**|
|---|---|---|
||£|£|
|**• European Hajj Company Limited**|**39,192**|**32,192**|



Page 20 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

## **18. Related Party Transactions** 

The Trustees give freely of their time and expertise without any form of remuneration or other benefit in cash or any kind (2019: £Nil) 

The following related party transactions took place during the year with the Charity's wholly owned subsidiaries (Note 22) 

## _**CoEJ Investments Ltd**_ 

• Donation received (without conditions) by the Charity from the subsidiary amounted to £598.54 (2019: £90,000) 

## **19 Analysis of Movement in Funds** _**-  Charity**_ 

## **Restricted Funds** 

|Essex<br>Peterborough<br>Hyderi<br>Hujjat Funds<br>Paris Funds<br>Wessex Funds<br>Birmingham Funds<br>Milton Keynes Funds<br>WHIPAS<br>Al Mahdi Institute<br>European Refugee Crisis 2015<br>Khums<br>Fitra<br>Relief Funds<br>Welfare<br>Fidya & Kaffara<br>Sadaqa<br>Zakaat<br>Alim Grant<br>Muharram Grant<br>Ramadhan Grant<br>Qurbani<br>**Unrestricted Funds**<br>General Funds|**Opening**<br>**Balance**<br>£<br>-<br>-<br>-<br>-<br>50<br>-<br>-<br>3,250<br>-<br>200<br>12,313<br>2,105<br>1,537<br>1,694<br>4,637<br>677<br>2,362<br>50<br>4,124<br>-<br>800<br>175<br>**33,973**<br>**Opening**<br>**Balance**<br>£<br>1,051,390<br>**1,051,390**|**Income**<br>£<br>392,778<br>314,019<br>339,348<br>1,600<br>-<br>15,950<br>1,166,954<br>750<br>100<br>-<br>-<br>411,333<br>28,223<br>105,186<br>13,120<br>25,717<br>87,418<br>7,474<br>29,500<br>500<br>2,100<br>3,728<br>**2,945,798**<br>**Income**<br>£<br>214,309<br>**214,309**|**Expenditure**<br>£<br>(392,778)<br>(314,019)<br>(339,348)<br>(1,600)<br>-<br>(15,950)<br>(1,166,954)<br>(4,000)<br>(100)<br>-<br>-<br>(395,017)<br>(29,755)<br>(105,353)<br>(11,020)<br>(26,288)<br>(89,131)<br>(2,524)<br>(29,500)<br>(500)<br>(2,000)<br>(3,914)<br>**(2,929,753)**<br>**Expenditure**<br>£<br>168,029<br>**168,029**|**Closing**<br>**Balance**<br>£<br>-<br>-<br>-<br>50<br>-<br>-<br>-<br>-<br>200<br>12,313<br>18,421<br>5<br>1,527<br>6,737<br>106<br>648<br>5,000<br>4,124<br>-<br>900<br>(11)<br>**50,018**<br>**Closing**<br>**Balance**<br>£<br>1,097,670<br>**1,097,670**|
|---|---|---|---|---|



Page 21 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

## **21. Analysis of Charitable Funds** 

|**Consolidated**<br>**Unrestricted Funds**<br>General Funds<br>Designated Funds<br>Revaluation Reserve<br>**Restricted Funds**<br>Restricted Funds<br>**Charity**<br>**Unrestricted Funds**<br>General Funds<br>Designated Funds<br>**Restricted Funds**<br>Restricted Funds|£<br>£<br>£<br>£<br>714,799<br>213,710<br>(168,029)<br>760,481<br>230,148<br>-<br>-<br>230,148<br>37,160<br>-<br>-<br>37,160<br>**982,107**<br>**213,710**<br>**(168,029)**<br>**1,027,788**<br>£<br>£<br>£<br>£<br>75,879<br>2,952,968<br>(2,936,917)<br>91,930<br>**75,879**<br>**2,952,968**<br>**(2,936,917)**<br>**91,930**<br>£<br>£<br>£<br>£<br>758,096<br>214,309<br>(168,029)<br>804,376<br>293,294<br>-<br>-<br>293,294<br>**1,051,390**<br>**214,309**<br>**(168,029)**<br>**1,097,670**<br>£<br>£<br>£<br>£<br>33,974<br>2,945,798<br>(2,929,753)<br>50,019<br>**33,974**<br>**2,945,798**<br>**(2,929,753)**<br>**50,019**<br>**At 1 Jan**<br>**2020**<br>**Income**<br>**Expenditure At 31 Dec 2020**<br>**At 1 Jan**<br>**2020**<br>**Income**<br>**Expenditure At 31 Dec 2020**<br>**At 1 Jan**<br>**2020**<br>**Income**<br>**Expenditure At 31 Dec 2020**<br>**At 1 Jan**<br>**2020**<br>**Income**<br>**Expenditure At 31 Dec 2020**|
|---|---|



Page 22 of 23 



## **THE COUNCIL OF EUROPEAN JAMAATS NOTES TO THE FINANCIAL STATEMENTS (** _**continued**_ **) YEAR ENDED 31 DECEMBER 2020** 

## **21. Subsidiary Company - The European Hajj Company Ltd** 

The Charity owns the whole of the issued ordinary share capital of The European Hajj Company Limited, a company registered in England and Wales (Reg. No. 08563597).  The subsidiary is used for non-primary purpose trading activities.  All activities have been consolidated on a line by line basis in the SOFA.  The total net profit forms part of the restricted funds of the consolidated accounts. A summary of the results of the subsidiary is shown below: 

|Turnover<br>Cost of Sales<br>Administrative Expenses<br>Taxation<br>**Profit for the Financial Year**<br>The aggregate of the assets, liabilities and funds was:<br>Assets<br>Liabilities|**2020**<br>**2019**<br>£<br>£<br>7,170<br>475,128<br>(920)<br>(465,750)<br>6,250<br>9,378<br>(6,243)<br>(7,231)<br>7<br>2,147<br>(1)<br>(408)<br>**6**<br>**1,739**<br>**2020**<br>**2019**<br>£<br>£<br>184,267<br>84,237<br>(81,205)<br>(81,181)<br>**103,062**<br>**3,056**|
|---|---|



EHC 2019 figures have been restated as follows: Assets: £75,104 Restated to £84,237 Liabilities: (£73,695) Restated to (£81,181) 

Page 23 of 23