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← Holloway Educational And Cultural Centre

2024-03-31-accounts

Holloway Educational and Cultural Centre

Charity No. 1101128

Trustees' Report and Unaudited Accounts

31 March 2024

Holloway Educational and Cultural Centre Contents

Pages
Trustees' Annual Report 2 to 7
Independent Examiner's Report 8 to 8
Statement of Financial Activities 9 to 9
Balance Sheet 10 to 10
Statement of Cash flows 17 to 17
Notes to the Accounts 11 to 16
Detailed Statement of Financial Activities 18 to 19

Page 1

Holloway Educational and Cultural Centre Trustees Annual Report

Holloway Educational and Cultural Centre

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1101128

Principal Office

440 Hornsey Road London N19 4EB

Trustees

The following trustees served during the year:

M.K.A. Bhuiyan M.H. Bhuiyan M.R. Hussain M.A. Karim J. Khan M.I. Mohamed

M.A. Rahman O.W. Rahman M.B. Uddin

==> picture [298 x 157] intentionally omitted <==

Accountants

CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London N1 9PF

Bankers

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

OBJECTIVES AND ACTIVITIES

Page 2

Holloway Educational and Cultural Centre Trustees Annual Report

The charity's objects as laid out in its constitution, are:

a) To promote the benefit of the inhabitants of Islington and the surrounding neighbourhood without distinction of sex or of political, religious, or other opinions by associating the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of local welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.

b) To establish or to secure the establishment of a community centre.

ACHIEVEMENTS AND PERFORMANCE

Page 3

Holloway Educational and Cultural Centre Trustees Annual Report

Academy

Our Academy has been steadily developing the quality of educational provision for children and young people between the school years one to 11. The Academy closely, as far as possible, follows the school calendar.

The Academy is led by our Imam and have a number of volunteers.

The main objectives of the Academy are:

2) To enhance children's confidence within themselves by progressing them in the Quran Tajweed, Memorisation and General Knowledge.

3) To provide a sense of community to all who are part of the Academy, staff, volunteers, pupils, and parents.

The Academy operates within a fee-based structure to cover its costs and various discounts are available. Academic year ends with the sports day and a trip out. This year 12 students graduated from the academy. We had an average of 60 children attending the classes over a week. The registration is still below the numbers we had prior to the pandemic.

Daily Prayers

The centre is open for the five daily prayers to the community. The number of attendees are slowly increasing. Depending on times and time of year at any one prayer there was between 20 to 100 members of the community attending. For the five daily prayers on average we have about 200 attendees across the five prayers.

Due to demand, we held two Friday prayers. An average of 400 people attended the two Friday prayers.

Iftar (breaking fast) and Teraweeh (night prayers)

During the holy month of Ramadan, the centre provided food for the community to break fast every day. Number of people breaking fast varied each day between 60 to 100. Additional daily night prayers also held each night of Ramadan. 150+ attendees participated in the nightly prayers.

Adult Quran Classes

This year we launched a separate adult Quran class for men and Women. These are structured 10 to 12 week courses.

Community Visits

Our team of volunteers conducted 15 weekly visits as part of our outreach programme to engage with adults at risk, those who are living alone, in poor health sick, suffering from bereavement. Our experienced volunteers offer advice and support, including referrals to agencies.

Daily reflection circles

Daily reflection circles were held and organised by our volunteers about the prophetic teaching on faith and good character. 15 to 30 attended for the circle daily.

Page 4

Holloway Educational and Cultural Centre Trustees Annual Report

Funday

Our annual summer funday was held in July 2022. It was organised by members of the community, Academy parents and volunteers. We hired bouncy castle, BBQ, slush puppy, face painting, henna artist, food from many cultures and many other stalls were the features. Over three hundred people participated and had a wonderful experience.

Residential and Pick up services

Religious trips to events and residential visits to mosques and pick up and drop of services for users of the centre for the elderly.

FINANCIAL REVIEW

i) There were no disclosable related party transactions during the year (2024 - none). ii)None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. One trustee was paid volunteer expenses of £1320. iii)No money amount was paid to the independent examiner as they are providing this service pro bono

PLANS FOR FUTURE PERIODS

We are looking into the following as future activities:

  1. Additional youth events, with lectures, careers advice, social issues etc for boys and girls

  2. Quran tafsir classes

  3. Hifz classes

  4. Charity car wash fundraiser

  5. Restart food bank

  6. Academic subject tuition

  7. Present two (one male, one female) volunteers to Islington Council and the Police to be the contact for Islamophobia incidents and create awareness. Training to be provided by the Council.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document HECC is registered as a charity with Charity Commission under charity number 1101128. The constitution document is dated 24th August 2003. Structure, governance and management The charity is a charitable organisation registered with the Charity Commission. The charity trustees manage the affairs of the charity. There must be at least ten and not more than thirteen charity trustees appointed at the AGM. Honorary Officers Chairman, Secretary and Treasurer are elected from amongst the trustees. Trustees and trustee appointments The Trustees who served during the year are as above. Trustees are elected by members as per the governing documents of the charity at the meeting of members AGM. Trustees stand for election at an AGM. New trustees, prior to their appointment, attend an introductory session on the responsibilities and expectations of a trustee at HECC. They are made aware of the aims and objectives of the charity, policies and procedures as well as characteristics and behaviours expected of them when conducting their work as a trustee of HECC. They are then paired with an existing trustee to help adjust to the charities working practices. New trustees receive a copy of the constitution, the latest financial statements, access to the Charity Commission guidance The Essential Trustee and recent publications.

Statement of trustees' responsibilities in relation to the financial statements

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

Page 5

Holloway Educational and Cultural Centre Trustees Annual Report

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of trustees' responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Public Benefit The Trustees confirms that they abide by the Charity Commission s general guidance on public benefit complying with Section 4 of the Charities Act 2011 to have due regard to public benefit in pursuance of its objectives and activities. Reserve Policy The trustees recognise the requirement to keep reserves to allow key activities to continue in case some shortfalls occur in income. The reserves ensure as far as possible the sustainability of the charity s key activities. The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of charity s unrestricted expenditure. The agreed reserve to be kept will be 15000. The trustees consider that, in the event of a downturn in the receipt of donations, this level will provide necessary funds to ensure that support and governance costs are covered. The trustees consider that this level is sufficient, as the giving of donations tradition is strong in the community of such a faith-based organisation. Risk Management The trustees believe that sound risk management is integral to both good management and good governance practice. Risk management forms an important part of the charity s decision making and is incorporated within planning. A detailed risk register is to be drafted and will be maintained and will regularly review and monitor the effectiveness of its risk management framework and update it as necessary. Future charitable activities We are looking into the KKahiman following as future activities: Additional youth events, with lectures, careers advice, social issues etc for boys and girls Quran tafsir classes Hifz classes Charity car wash fundraiser Academic subject tuition Present two (one male, one female) volunteers to Islington Council and the Police to be the contact for Islamophobia incidents and create awareness. Training to be provided by the Council. Volunteers HECC recognises the extraordinary contributions of its volunteers who work tirelessly to serve the local community. Volunteers are heart of our activities from daily, weekly, seasonal and annual activities that the centre provides. We are looking to create a volunteer portal/group to ease the process of connecting people with activities and services for the community. Volunteers are to be appreciated through the annual event/dinner.

Signed on behalf of the charity's trustees

M.R. Hussain Trustee 31 December 2024

Page 6

Holloway Educational and Cultural Centre Independent Examiners Report

Independent Examiner's Report to the trustees of Holloway Educational and Cultural Centre

I report to the trustees on my examination of the financial statements of Holloway Educational and Cultural Centre for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 can 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:

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.

Mr Ali Arif BS's Hons, FCPA, AFA Certified Accountants CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London

N1 9PF 31 December 2024

Page 7

Holloway Educational and Cultural Centre Statement of Financial Activities

for the year ended 31 March 2024

Notes
Income and endowments
from:
Donations and legacies
3
Other
4
Total
Expenditure on:
Charitable activities
5
Other
6
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds		 Total funds Total funds
2024 2024 2023
£ £ £
10,763 10,763 20,963
40,665 40,665 55,021
51,428 51,428 75,984
7,723 7,723 -
29,013 29,013 35,441
36,736 36,736 35,441
- - -
14,692 14,692 40,543
- - -
14,692 14,692 40,543
14,692 14,692 40,543
56,983 56,983 16,439
71,675 71,675 56,982

Page 8

Holloway Educational and Cultural Centre Balance Sheet

at 31 March 2024

at 31 March 2024
Charity No. 1101128 2024 2023
£ £
Current assets
Debtors 8 125,000 125,000
Cash at bank and in hand 37,274 115,581
162,274 240,581
Creditors:Amount falling due within one year 9 (50,599) (140,599)
Net current assets 111,675 99,982
Total assets less current liabilities 111,675 99,982
Creditors:Amounts falling due after more than one year 10 (40,000) (43,000)
Net assets excluding pension asset or liability 71,675 56,982
Total net assets 71,675 56,982
The funds of the charity
Restricted funds 11
Unrestricted funds 11
General funds 71,675 56,982
71,675 56,982
Reserves 11
Total funds 71,675 56,982

Approved by the trustees on 31 December 2024

And signed on their behalf by:

M.A. Rahman Trustee

31 December 2024

Page 9

Holloway Educational and Cultural Centre Notes to the Accounts

for the year ended 31 March 2024

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Holloway Educational and Cultural Centre Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 11

Holloway Educational and Cultural Centre Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 12

Holloway Educational and Cultural Centre Notes to the Accounts

2 Statement of Financial Activities - prior year

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Other
Total
Expenditure on:
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
Donations
Online Donations
4
Other income
Rental income
Interest received		 Unrestricted
£
609
10,154
10,763
Unrestricted
£
40,130
535
40,665		 Unrestricted
funds
2023
£
464
20,500
55,021
75,985
35,442
35,442
40,543
40,543
40,543
16,439
56,982
Total
2024
£
609
10,154
10,763
Total
2024
£
40,130
535
40,665		 Total funds
2023
£
464
20,500
55,021
75,985
35,442
35,442
40,543
40,543
40,543
16,439
56,982
Total
2023
£
20,963
-
20,963
Total
2023
£
55,000
21
55,021

Page 13

Holloway Educational and Cultural Centre Notes to the Accounts

5 Expenditure on charitable activities

5
Expenditure on charitable activities
Expenditure on charitable
activities
Expenses charity
Volunteer expenses
Governance costs
6
Other expenditure
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
7
Staff costs
Salaries and wages
No employee received emoluments in excess of £60,000.
8
Debtors
Loan to other charities
9
Creditors:
amounts falling due within one year
HRL Lease
10 Creditors:
amounts falling due after more than one year
Karza Hasana		 Unrestricted
£
542
7,181
7,723
Unrestricted
£
8,355
-
15,568
60
5,030
29,013
2024
4,515
4,515
2024
£
125,000
125,000
2024
£		 Total
2024
£
542
7,181
7,723
Total
2024
£
8,355
-
15,568
60
5,030
29,013		 Total
2023
£
-
-
-
Total
2023
£
19,758
4,920
9,527
1,236
-
35,441
2023
19,758
19,758
2023
£
125,000
125,000
2023
£
50,599 140,599
50,599
2024
£
40,000
40,000		 140,599
2023
£
43,000
43,000

Page 14

Holloway Educational and Cultural Centre Notes to the Accounts

11 Movement in funds

Restricted funds:
Unrestricted funds:
General funds
Total funds
12 Analysis of net assets between funds
Net current assets
Creditors due in more than one year and
provisions
13 Reconciliation of net debt
Cash and cash equivalents		 At 1 April
2023
56,983
56,983		 Incoming
resources
(including
other
gains/losses
)
£
51,428
51,428
At 1 April
2023
£		 Resources
expended
£
(36,736)
(36,736)
Unrestricted
funds
£
111,675
(40,000)
71,675
Cash flows
£		 At 31
March
2024
£
71,675
71,675
Total
£
111,675
(40,000)
71,675
At 31
March
2024
£
115,581 (78,307) 37,274
115,581
(43,000)		 (78,307) 37,274
(40,000)
Borrowings 3,000
Net debt (43,000)
72,581		 3,000
(75,307)		 (40,000)
(2,726)

Page 15

Holloway Educational and Cultural Centre Statement of Cash flows for the year ended 31 March 2024

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Increase in trade and other receivables
(Decrease)/Increase in trade and other payables
Net cash used in operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Cash flows from financing activities
Repayment of borrowings
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
14,692
(40,665)
-
(90,000)
(115,973)
40,665
40,665
(3,000)
(3,000)
(78,308)
115,581
37,273		 2023
£
40,543
(55,021)
(125,000)
84,548
(54,930)
55,021
55,021
-
-
91
115,490
115,581
Components of cash and cash equivalents
Cash and bank balances 37,274 115,581
37,274 115,581

Page 16

Holloway Educational and Cultural Centre Detailed Statement of Financial Activities

for the year ended 31 March 2024

Income and endowments from:
Donations and legacies
Other
Total income and endowments
Expenditure on:
Charitable activities
Total of expenditure on charitable
activities
Employee costs
Salaries/wages
Temporary staff
Vehicles - General costs
Premises costs
Rates
Light, heat and power
Premises insurances
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Bank charges
Stationery and printing
Sundry expenses
Telephone, fax and broadband
Legal and professional costs		 Unrestricted
funds
2024
£
609
10,154
10,763
40,130
535
40,665
51,428
542
7,181
7,723
7,723
4,515
3,840
8,355
-
-
810
6,487
1,461
6,810
15,568
60
-
-
-
60		 Total funds
2024
£
609
10,154
10,763
40,130
535
40,665
51,428
542
7,181
7,723
7,723
4,515
3,840
8,355
-
-
810
6,487
1,461
6,810
15,568
60
-
-
-
60		 Total funds
2023
£
20,963
-
20,963
55,000
21
55,021
75,984
-
-
-
-
19,758
-
19,758
4,920
4,920
-
-
-
9,527
9,527
-
209
568
459
1,236

Page 17

Holloway Educational and Cultural Centre Detailed Statement of Financial Activities

Holloway Educational and Cultural Centre
Detailed Statement of Financial Activities
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 5,030
5,030
29,013
36,736
-
14,692
14,692
-
14,692
56,983
71,675		 5,030
5,030
29,013
36,736
-
14,692
14,692
-
14,692
56,983
71,675		 -
-
35,441
35,441
-
40,543
40,543
-
40,543
16,439
56,982

Page 18