Charity registration number 1098114
SRI LANKA ISLAMIC (UK) ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
SRI LANKA ISLAMIC (UK) ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr M Malhar Mr A M Saleem Mr A Wahab Mr G Hameed Mr A M Hilmy Mrs M Ossman Mr M H Annis Ms A Ibrahim Mrs F Nizar Mr R Sadiq (Appointed 27 March 2022) Mrs S Nalimdeen-Ryan (Appointed 27 March 2022) Charity number 1098114 Independent examiner Reddy Siddiqui LLP 183-189 The Vale Acton London W3 7RW
SRI LANKA ISLAMIC (UK) ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 5 |
| Statement of trustees responsibilities | 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 18 |
SRI LANKA ISLAMIC (UK) ASSOCIATION
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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
The charity was set up to promote, protect, preserve and enhance religious, charitable, social, cultural, sports and educational activities to the benefit of the community, in line with Islamic and Sri Lankan cultural values and in association and co-operation with other organisations where relevant.
The charity's objects are:
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To advance the Muslim religion for the benefit of the public among Muslims in the United Kingdom including by the provision of facilities for prayer gathering;
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To advance Islamic education for the benefit of the public;
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To relieve poverty amongst Muslim students;
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To prevent or relieve poverty of suffering communities worldwide by facilitating humanitarian activities and supporting welfare projects for the social upliftment of poor communities in Sri Lanka.
Public benefit
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. It is the trustee's opinion that the operation of the charity in its present form is for the public benefit under the principles set out in the Charity Commission guidance.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
The charity has restricted funds of £24,672 made up of funds held for charitable projects and the Distress Fund:
| Restricted Funds | Balance at 31/12/2022 |
|---|---|
| Sri Lanka Unites | 2,070 |
| Walk for Syria | 921 |
| Abu Hurrairah Arabic College |
418 |
| School Building fund | 18,928 |
| Sub Total | 22,337 |
| Distress fund | 2,335 |
| Total restricted funds | 24,672 |
The policies adopted in furtherance of these objects are to organise religious activities, talks and fundraising events to raise awareness of the religious practices of Muslims and their social responsibilities towards those less fortunate in the UK and abroad; and to receive micro-project proposal applications for funding from various non-profit organisations abroad to relieve poverty or provide humanitarian aid or uplift poor communities. The trustees review these micro-project proposals and ensure that they are in accordance with the Charity's objectives before approving them and there has been no change in these during the year. The political unrest and fuel shortages in Sri Lanka in 2022 caused by the financial crisis caused some uncertainty and delays for the execution of projects in 2022.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance
The Trustees used part of the School Building / Educational Fund to supported a pilot educational project to provide additional tutoring support to children from poor households who were struggling to achieve the minimum literacy and numeracy requirements for their age. The project was run by Muslim Hands (a registered UK charity with operations in Sri Lanka). The Trustees also raised funds to support Vocational Training and Cottage Industry Projects for our charity partner in Sri Lanka, Merci Lanka, primarily in relation to empowering women in Sri Lanka to be financially self-sufficient.
Payments (not including bank charges) were made to the following 6 local non-profit partners in Sri Lanka. 4 of these payments were to carry out food distributions to the poor and needy in the Colombo suburbs, Kinniya (Trincomalee) and Galle Fort area, Thalapitiya, Katugoda and Makuluwa:
Muslim Hands £4572.59 (Puttalam) – education project
Merci Lanka: £5,000 (Colombo suburbs) – cottage industry and vocational training
Lank Relief And Development Foundation, (LRDF) £2,500 (Galle Fort) – dry rations
Galle Muslim Cultural Association (GMCA) £1800 (Galle Fort) – dry rations
Young Men’s Muslim Association (YMMA) £4,989 (Colombo suburbs) – dry rations
Social Development Integrate Association (SDIA) (Kinniya) £2850 – dry ration
In July 2022, the charity partnered with Al Ihsan Trust (a UK registered charity with operations in Sri Lanka) to provide members with a Qurbani service, which raised £2,600 to feed the poor and needy in Malwana/ Wattala (Akbar Town) -close to Colombo, as part of the religious festival of Hajj.
In October 2022, the charity conducted a Milad Nabi celebration at Harrow mosque, funded by members and sponsors.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at £10,000 in line with previous years, a level equivalent to between three- and six-months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The primary source of funding is from annual membership fees, donations from members and well-wishers participating at the various events. In 2022, the charity received £3,066 (2021: £2,712) in membership subscriptions
The charity owns the freehold of a 4-floor commercial investment property on Hanwell, W7, that is mortgage-free. It receives £50 per year ground rent from the owners of the 1st floor split-level maisonette and £15,000 rental income for the year from the ground-floor and basement shop’s tenants. The charity receives by way of additional rent, the reimbursement of the annual building insurance premium split between the leasehold flat and the shop tenants. A new lease was signed with the tenants of the shop at the end of 2021 to replace the Tenancy at Will under which they were in occupation of the premises since 12th February 2020. A deposit of £7,500 is due to the shop tenant at the end of their tenancy. There were costs incurred for repairs and renewals to the shop of £16,008 during 2022.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Structure, governance and management
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity was formally established in March 1973 and registered as a charity with the Charity Commission with effect from 20 June 2003 with amendments made on 28th March 2004, 19th June 2004, 26th March 2006, 25th May 2019, 4th July 2021 and 27 March 2022.
The trustees are responsible for the administration and investment policy of the charity. Trustees are appointed and ratified by the members at the AGM and serve until the next AGM. During their term of office, the Board of Trustees can fill any vacant trustee positions and can remove Trustees, and consists of 6 Office Bearers and 5 Committee Members.
Induction training is given to the trustees on appointment. New trustee would also receive training from an existing trustee about the charity and their responsibilities as a trustee and would receive a copy of the Charity Commission's guide for new trustee. Ongoing training is provided as required.
Annual General Meetings are usually held in the months of March or April each year to receive the General Secretary's report, Treasurer's Annual Accounts and to elect Committee Members (Trustees) for the forthcoming year, who must be proposed and seconded by fully paid-up members of the Charity.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr M Malhar
Mr A M Saleem Mr A Wahab Mr G Hameed Mr A M Hilmy Mrs M Ossman Mr M H Annis Ms A Ibrahim Mrs F Nizar Mr M Marzook Ms S Fazal Mr R Sadiq Mrs S Nalimdeen-Ryan
(Resigned 27 March 2022) (Resigned 27 March 2022) (Appointed 27 March 2022) (Appointed 27 March 2022)
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SRI LANKA ISLAMIC (UK) ASSOCIATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Office Bearers:
Mrs M Ossman - President
Mr G Hameed - Vice President
Mrs S Nizar - General Secretary
Mr M Saleem - Assistant Secretary
Ms A Ibrahim - Treasurer
Mr R Sadiq- Assistant Treasurer (appointed 27 March 2022)
Committe Members:
Mr K Malhar
Mr A Hilmy
Mr A Wahab
Mr N Annis
Mr J Marzook
Mrs S Nalimdeen- Ryan
The trustees report was approved by the Board of Trustees.
..............................
Mrs M Ossman
Trustee
Date: .....11/03/2023........................................
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SRI LANKA ISLAMIC (UK) ASSOCIATION
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
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 trustees to prepare financial statements for each financial 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 year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that 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 Charity (Accounts and Reports) Regulations 2008 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.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SRI LANKA ISLAMIC (UK) ASSOCIATION
I report to the trustees on my examination of the financial statements of Sri Lanka Islamic (UK) Association (the charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’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
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Reddy Siddiqui LLP
183-189 The Vale Acton London W3 7RW
Dated: ..11/03/2023.......................
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SRI LANKA ISLAMIC (UK) ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 3 32,888 7,313 Charitable activities 4 - - Investments 5 16,747 - Other income 6 3,925 - Total income 53,560 7,313 Expenditure on: Raising funds 7 213 - Charitable activities 8 59,366 12,173 Other 11 72 - Total expenditure 59,651 12,173 Net outgoing resources before transfers (6,091) (4,860) Gross transfers between funds (2,776) 2,776 Net expenditure for the year/ Net movement in funds (8,867) (2,084) Fund balances at 1 January 2022 329,795 26,756 Fund balances at 31 December 2022 320,928 24,672 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 40,201 16,524 - - 1,117 - 16,747 16,512 - 3,925 - - 60,873 34,153 - 213 372 - 71,539 38,366 - 72 1,717 - 71,824 40,455 - (10,951) (6,302) - - 1,330 (1,330) (10,951) (4,972) (1,330) 356,551 334,767 28,086 345,600 329,795 26,756 |
Total 2021 £ 16,524 1,117 16,512 - 34,153 372 38,366 1,717 40,455 (6,302) - (6,302) 362,853 356,551 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed assets Intangible assets 12 Tangible assets 13 Investment properties 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets Income funds Restricted funds Unrestricted funds |
2022 £ 442 129,237 129,679 (2,175) |
£ - 596 225,000 225,596 127,504 353,100 (7,500) 345,600 24,672 320,928 345,600 |
2021 £ 1,779 138,648 140,427 (2,587) |
£ 510 701 225,000 226,211 137,840 364,051 (7,500) 356,551 26,756 329,795 356,551 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on ...11/03/2023......................
.............................. Mrs M Ossman Trustee
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
Sri Lanka Islamic (UK) Association is a Charity registered in England and Wales.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity' Constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.7 Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs Over 3 years on cost
1.8 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 15% on reducing balance Books 15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.9 Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.10 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.11 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.12 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.13 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Restricted funds funds 2022 2022 £ £ Donations and gifts 1,409 7,313 Events and Religious celebrations 28,412 - Membership fees 3,067 - 32,888 7,313 Donations and gifts Covid Relief - - Qurbani - 2,498 Merci Lanka - 2,327 Sri Lanka Unites - 2,070 Abu Hurrairah Arabic College - 418 Other 1,409 - 1,409 7,313 |
Total Unrestricted funds 2022 2021 £ £ 8,722 10,114 28,412 3,563 3,067 2,847 40,201 16,524 - 3,330 2,498 760 2,327 - 2,070 - 418 - 1,409 6,024 8,722 10,114 |
Total Unrestricted funds 2022 2021 £ £ 8,722 10,114 28,412 3,563 3,067 2,847 40,201 16,524 - 3,330 2,498 760 2,327 - 2,070 - 418 - 1,409 6,024 8,722 10,114 |
|---|---|---|
| 16,524 | ||
| 3,330 760 - - - 6,024 |
||
| 10,114 |
4 Charitable activities
Other income
| 2022 | 2021 |
|---|---|
| £ | £ |
| - | 1,117 |
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Rental income | 15,000 | 15,000 |
| Insurance and ground rent receivable | 1,747 | 1,512 |
| 16,747 | 16,512 |
6 Other income
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2022 | 2021 | |
| £ | £ | |
| Advertising income | 3,925 | - |
7 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Fundraising and publicity | ||
| Computer costs | 213 | 372 |
| 213 | 372 |
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
8 Charitable activities
| Qurbani Merci Lanka Covid Relief Education Easter Sunday Fund Events and Religious celebrations Charitable donations Premises costs and bank charges Accountancy and legal costs Analysis by fund Unrestricted funds Restricted funds |
2022 £ 2,600 5,000 - 4,573 - 27,215 12,141 51,529 18,888 1,122 71,539 59,366 12,173 71,539 |
2021 £ 760 - 3,529 - 4,189 3,076 15,392 |
|---|---|---|
| 26,946 5,400 6,020 |
||
| 38,366 | ||
| 38,366 - |
||
| 38,366 |
Premises costs include £16,008 for building repairs carried out during the year.
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
11 Other
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| Amortisation | 510 | 495 |
| Depreciation | 105 | 124 |
| Telephone | 57 | 56 |
| Financing costs | (600) | 263 |
| Other expenditure | - | 779 |
| 72 | 1,717 |
Costs of £600 for website development was accrued in 2019. This is no longer expected to be paid and the accrued expense was reversed during the year.
12 Intangible fixed assets
| Development costs | |
|---|---|
| £ | |
| Cost | |
| At 1 January 2022 and 31 December 2022 | 1,500 |
| Amortisation and impairment | |
| At 1 January 2022 | 990 |
| Amortisation charged for the year | 510 |
| At 31 December 2022 | 1,500 |
| Carrying amount | |
| At 31 December 2022 | - |
| At 31 December 2021 | 510 |
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 13 Tangible fixed assets Fixtures and fittings £ Cost At 1 January 2022 6,195 At 31 December 2022 6,195 Depreciation and impairment At 1 January 2022 5,509 Depreciation charged in the year 103 At 31 December 2022 5,612 Carrying amount At 31 December 2022 583 At 31 December 2021 686 14 Investment property Fair value At 1 January 2022 and 31 December 2022 Freehold Long leasehold Short leasehold 15 Debtors Amounts falling due within one year: Other debtors |
Books £ 1,036 1,036 1,021 2 1,023 13 15 2022 £ 241,008 - - 2022 £ 442 |
Total £ 7,231 |
|---|---|---|
| 7,231 | ||
| 6,530 105 |
||
| 6,635 | ||
| 596 | ||
| 701 | ||
| 2022 £ 225,000 |
||
| 2021 £ 225,000 - - |
||
| 2021 £ 1,779 |
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SRI LANKA ISLAMIC (UK) ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 16 Creditors: amounts falling due within one year Other creditors Accruals and deferred income 17 Creditors: amounts falling due after more than one year Other creditors |
2022 £ 1,053 1,122 2,175 2022 £ 7,500 |
2021 £ 1,567 1,020 |
|---|---|---|
| 2,587 | ||
| 2021 £ 7,500 |
Creditors due after one year relates to the deposit of £7,500 that is due to the shop tenant at the end of their tenancy.
| 18 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 December 2022 are represented by: Intangible fixed assets - - Tangible assets 596 - Investment properties 225,000 - Current assets/(liabilities) 102,832 24,672 Long term liabilities (7,500) - 320,928 24,672 |
Total Unrestricted funds Restricted funds 2022 2021 2021 £ £ £ - 510 - 596 701 - 225,000 225,000 - 127,504 111,084 26,756 (7,500) (7,500) - 345,600 329,795 26,756 |
Total 2021 £ 510 701 225,000 137,840 (7,500) |
|---|---|---|
| 356,551 |
19 Related party transactions
The Charity carries out some of its projects in Sri Lanka through collaboration with Laila Umma Deen Foundation And Al Ihsan Trust Sri Lanka. Mr Nissther Annis, a trustee of the Charity, is also a trustee in these charities.
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