OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

REGISTERED COMPANY NUMBER: 05361672 (England and Wales) REGISTERED CHARITY NUMBER: 1110774

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

J R Accounts Chartered Certified Accountants 164-166 High Road Ilford Essex IG1 1LL

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4 to 5
Notes to the Financial Statements 6 to 12
Detailed Statement of Financial Activities 13 to 14

MALAYALEE MUSLIM CULTURAL & WELFARE A&80CIATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR EliDED31 MARCH 2021 The wusiees who are also direcrors of ihe charity for the puryoses of the Conipanie% Ac(2(Mkn. presen( (heir reporr with the financial siaiemenis of th¥ ch4Lrity for Ihe year ended 31 Mawh 2021. The trustees have adopted the provisions of Arcounling and Reporting by Ch¥riti¢b.' Sialeincni of R¢conim¢nded Prac¢i¢c applicablc io ¢haritlL& pfL'paring their accoun15 in accordance with ihe Finineial Reporting Standard applicabl¢ in ihe UK and Republic of ircland {FRS 1021 (effeclive I January 2019). STRUCTURE, GovE￿NANcE AND MANAGEMENT Governing document The charity is conrrolled b). its governing docwnenl a deed of truSL and constiLuie$ a lirnitcd company. Iimltcd by guarantee. as defined by the Compllnic5 Act ?006. REFERENCE AND ADMIYISTRATIVE DETAILS Reglstered Compahy number 05361672 (Ertgland and Wale5) Reg15tertd Ch4rlty number 110774 Reg15ttred offlcc 38 Pclls Hill Northolt UB5 4NL Trustee5 A Rafeek P V M Velliyaitil R Mannarkandy A J R Kunhirnon Independent Examlner J R Accounts Chartered Certificd Accounwnts 16ib166 High Road Iirord Esscx IGI ILL Approved by ord¢r ofihe bvard ofirusiecs on 8 Novernb¢r 2021 and signed on lis behalf by.. P V M Velliyattil- TrLLStee Page I

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

Independent examiner's report to the trustees of Malayalee Muslim Cultural & Welfare Association (Uk) ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Javad Haider Rana ACCA J R Accounts Chartered Certified Accountants 164-166 High Road Ilford Essex IG1 1LL

9 November 2021

Page 2

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
24,537
Other income
21,739
Total
46,276
EXPENDITURE ON
Raising funds
2
15,279
NET INCOME
30,997
Transfers between funds
11
(3,335)
Net movement in funds
27,662
RECONCILIATION OF FUNDS
Total funds brought forward
333,704
TOTAL FUNDS CARRIED FORWARD
361,366		 Restricted
fund
£
-
-
-
-
-
3,335
3,335
-
3,335		 31.3.21
Total
funds
£
24,537
21,739
46,276
15,279
30,997
-
30,997
333,704
364,701		 31.3.20
Total
funds
£
43,339
22,800
66,139
37,026
29,113
-
29,113
304,591
333,704

The notes form part of these financial statements

Page 3

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

BALANCE SHEET 31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
9
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
650,177
2,446
21,551
23,997
(36,278)
(12,281)
637,896
(276,530)
361,366		 Restricted
fund
£
-
-
3,335
3,335
-
3,335
3,335
-
3,335		 31.3.21
Total
funds
£
650,177
2,446
24,886
27,332
(36,278)
(8,946)
641,231
(276,530)
364,701
361,366
3,335
364,701		 31.3.20
Total
funds
£
650,324
5,488
12,143
17,631
(36,954)
(19,323)
631,001
(297,297)
333,704
333,704
-
333,704

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 4

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK) BALANCE SHEET-fontlnued 31 MARCH 2021 Th¢s¢ finan¢idl siatcmlnis have bcen prepared in a¢conJan¢¢ with the provisions applicable ￿ chariiable wmpanies subjecl io the small companies regime. The financial 51atements w¢r¢ approved by the Board of Trnsiees and auth0ri5ed for issue on 8 November 2021 and were Signed on its b¢haifby'. P V M Vclliyattil - Tn￿¢ The not￿ fonn psrt of these fllwiclal Sla*ments Page 5

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - no depreciation Fixtures and fittings - 20% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 6

continued...

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

2. RAISING FUNDS

Raising donations and legacies

3.

Raising donations and legacies
31.3.21 31.3.20
£ £
Rent rates and water (1,637) 948
Charitable expenses 5,149 20,242
Support costs 1,851 3,458
5,363 24,648
Investment management costs
31.3.21 31.3.20
£ £
Interest payable and similar charges 9,769 12,183
Aggregate amounts 15,279 37,026
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.21 31.3.20
£ £
Depreciation - owned assets 147 195

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

continued...

Page 7

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
43,339
Other income
22,800
Total
66,139
EXPENDITURE ON
Raising funds
37,026
NET INCOME
29,113
RECONCILIATION OF FUNDS
Total funds brought forward
304,591
TOTAL FUNDS CARRIED FORWARD
333,704
6.
TANGIBLE FIXED ASSETS
Improvements
Freehold
to
property
property
£
£
COST
At 1 April 2020 and 31 March 2021
633,768
15,970
DEPRECIATION
At 1 April 2020
-
-
Charge for year
-
-
At 31 March 2021
-
-
NET BOOK VALUE
At 31 March 2021
633,768
15,970
At 31 March 2020
633,768
15,970		 Restricted
fund
£
-
-
-
-
-
-
-
Fixtures
and
fittings
£
1,169
583
147
730
439
586		 Total
funds
£
43,339
22,800
66,139
37,026
29,113
304,591
333,704
Totals
£
650,907
583
147
730
650,177
650,324		 Total
funds
£
43,339
22,800
66,139
37,026
29,113
304,591
333,704

continued...

Page 8

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 10)
Other loans (see note 10)
Accrued expenses
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 10)
10.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Other loans
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal		 31.3.21
£
2,446
-
2,446
31.3.21
£
23,997
11,000
1,281
36,278
31.3.21
£
276,530
31.3.21
£
23,997
11,000
34,997
276,530		 31.3.20
£
4,988
500
5,488
31.3.20
£
23,997
12,200
757
36,954
31.3.20
£
297,297
31.3.20
£
23,997
12,200
36,197
297,297

continued...

Page 9

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
333,704
Restricted funds
Designated fund
-
TOTAL FUNDS
333,704
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 Net
movement
in funds
£
30,997
-
30,997
Incoming
resources
£
46,276
46,276
At 1.4.19
£
304,591
304,591		 Transfers
between
At
funds
31.3.21
£
£
(3,335)
361,366
3,335
3,335
-
364,701
Resources
Movement
expended
in funds
£
£
(15,279)
30,997
(15,279)
30,997
Net
movement
At
in funds
31.3.20
£
£
29,113
333,704
29,113
333,704		 At
31.3.21
£
361,366
3,335
364,701
333,704

continued...

Page 10

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
66,139
TOTAL FUNDS
66,139
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.19
in funds
£
£
Unrestricted funds
General fund
304,591
60,110
Restricted funds
Designated fund
-
-
TOTAL FUNDS
304,591
60,110		 Resources
Movement
expended
in funds
£
£
(37,026)
29,113
(37,026)
29,113
Transfers
between
At
funds
31.3.21
£
£
(3,335)
361,366
3,335
3,335
-
364,701		 Resources
Movement
expended
in funds
£
£
(37,026)
29,113
(37,026)
29,113
Transfers
between
At
funds
31.3.21
£
£
(3,335)
361,366
3,335
3,335
-
364,701
364,701

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 112,415 (52,305) 60,110
TOTAL FUNDS 112,415 (52,305) 60,110

continued...

Page 11

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

13. RESTRICTED FUNDS

During the year, the community raised £3,335 to support Iqbal's family, who passed away due to Covid19 in April 2020.

Page 12

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

31.3.21 31.3.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gift aid claims 4,032 5,495
Donations 20,505 37,844
24,537 43,339
Other income
Other income 21,739 22,800
Total incoming resources 46,276 66,139
EXPENDITURE
Raising donations and legacies
Rent rates and water (1,637) 948
Charitable expenses 5,149 20,242
3,512 21,190
Other trading activities
Fixtures and fittings 147 195
Investment management costs
Interest payable 9,769 12,183
Support costs
Management
Insurance 524 1,017
Light and heat 297 138
Postage and stationery - 1,123
Sundries 202 97
1,023 2,375
Finance
Bank charges 72 89
Information technology
Repairs and renewals - 238

This page does not form part of the statutory financial statements

Page 13

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

31.3.21 31.3.20
£ £
Information technology
Governance costs
Accountancy and legal fees 756 756
Total resources expended 15,279 37,026
Net income 30,997 29,113

This page does not form part of the statutory financial statements

Page 14