**REGISTERED COMPANY NUMBER: 05361672 (England and Wales) REGISTERED CHARITY NUMBER: 1110774** ## **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE)** 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 2022** |||**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|13| |**Detailed Statement of Financial Activities**|14|to|15| ## ## ## ## ## **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 2022. ## **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 3. 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 4. 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 J R Accounts Chartered Certified Accountants 164-166 High Road Ilford Essex IG1 1LL 3 October 2022 Page 2 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
21,633
Investment income
2
24,100
**Total**
45,733
**EXPENDITURE ON**
Raising funds
3
16,222
Other
119
**Total**
16,341
**NET INCOME/(EXPENDITURE)**
29,392
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
361,366
**TOTAL FUNDS CARRIED FORWARD**
390,758|Restricted
fund
£
-
-
-
3,335
-
3,335
(3,335)
3,335
-|31.3.22
Total
funds
£
21,633
24,100
45,733
19,557
119
19,676
26,057
364,701
390,758|31.3.21
Total
funds
£
24,537
21,739| |---|---|---|---| ||||46,276
15,279
-| ||||15,279| ||||30,997
333,704| ||||364,701| The notes form part of these financial statements Page 3 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **BALANCE SHEET 31 MARCH 2022** |Notes
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
10
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
650,067
1,951
17,484
19,435
(30,753)
(11,318)
638,749
(247,991)
390,758|Restricted
fund
£
-
-
-
-
-
-
-
-
-|31.3.22
Total
funds
£
650,067
1,951
17,484
19,435
(30,753)
(11,318)
638,749
(247,991)
390,758
390,758
-
390,758|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| |---|---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continued... Page 4 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **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. The presentation currency of the financial statements is the Pound Sterling (£). ## **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 Improvements to property - no depreciation Fixtures and fittings - 25% 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 2022** |**2.**|**INVESTMENT INCOME**||| |---|---|---|---| |||31.3.22|31.3.21| |||£|£| ||Rents received|24,100|21,739| |**3.**|**RAISING FUNDS**||| ||**Raising donations and legacies**||| |||31.3.22|31.3.21| |||£|£| ||Rent rates and water|-|(1,637)| ||Charitable expenses|3,961|5,149| ||Support costs|6,376|1,851| |||10,337|5,363| ||**Investment management costs**||| |||31.3.22|31.3.21| |||£|£| ||Interest payable and similar charges|9,110|9,769| ||Aggregate amounts|19,557|15,279| |**4.**|**NET INCOME/(EXPENDITURE)**||| ||Net income/(expenditure) is stated after charging/(crediting):||| |||31.3.22|31.3.21| |||£|£| ||Depreciation - owned assets|110|147| continued... Page 7 **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
24,537
Investment income
21,739
**Total**
46,276
**EXPENDITURE ON**
Raising funds
15,279
**NET INCOME**
30,997
**Transfers between funds**
(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|Total
funds
£
24,537
21,739| |---|---|---| |||46,276
15,279| |||30,997
-| |||30,997
333,704| |||364,701| continued... Page 8 **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **7. TANGIBLE FIXED ASSETS** |Improvements
Freehold
to
property
property
£
£
**COST**
At 1 April 2021 and 31 March 2022
633,768
15,970
**DEPRECIATION**
At 1 April 2021
-
-
Charge for year
-
-
At 31 March 2022
-
-
**NET BOOK VALUE**
At 31 March 2022
633,768
15,970
At 31 March 2021
633,768
15,970
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 11)
Other loans (see note 11)
Accrued expenses|Fixtures
and
fittings
£
1,169
730
110
840
329
439
31.3.22
£
1,951
31.3.22
£
23,997
6,000
756
30,753|Totals
£
650,907|Totals
£
650,907| |---|---|---|---| |||730
110|| |||840|| |||650,067|| |||650,177|| |||31.3.21
£
2,446
31.3.21
£
23,997
11,000
1,281
36,278|| ||||36,278| continued... Page 9 **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |Bank loans (see note 11)
**11.**
**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
**12.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Designated fund
**TOTAL FUNDS**|At 1.4.21
£
361,366
3,335
364,701|31.3.22
£
247,991
31.3.22
£
23,997
6,000
29,997
247,991
Net
movement
in funds
£
29,392
(3,335)
26,057|31.3.21
£
276,530| |---|---|---|---| ||||31.3.21
£
23,997
11,000| ||||34,997| ||||276,530
At
31.3.22
£
390,758
-| ||||390,758| continued... Page 10 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **12. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Designated fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Designated fund
**TOTAL FUNDS**|At 1.4.20
£
333,704
-
333,704|Incoming
resources
£
45,733
-
45,733
Net
movement
in funds
£
30,997
-
30,997|Resources
Movement
expended
in funds
£
£
(16,341)
29,392
(3,335)
(3,335)
(19,676)
26,057
Transfers
between
At
funds
31.3.21
£
£
(3,335)
361,366
3,335
3,335
-
364,701|Resources
Movement
expended
in funds
£
£
(16,341)
29,392
(3,335)
(3,335)
(19,676)
26,057
Transfers
between
At
funds
31.3.21
£
£
(3,335)
361,366
3,335
3,335
-
364,701| |---|---|---|---|---| |||||364,701| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|46,276|(15,279)|30,997| |**TOTAL FUNDS**|46,276|(15,279)|30,997| continued... Page 11 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **12. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Designated fund
**TOTAL FUNDS**|At 1.4.20
£
333,704
-
333,704|Net
movement
in funds
£
60,389
(3,335)
57,054|Transfers
between
funds
£
(3,335)
3,335
-|At
31.3.22
£
390,758
-| |---|---|---|---|---| |||||390,758| 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|92,009|(31,620)|60,389| |**Restricted funds**|||| |Designated fund|-|(3,335)|(3,335)| |**TOTAL FUNDS**|92,009|(34,955)|57,054| ## **13. CONTINGENT LIABILITIES** There were no contingent liabilities at either the beginning or at the end of the financial year. continued... Page 12 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **14. CAPITAL COMMITMENTS** The charity had no capital commitments as at 31 March 2022 or 31 March 2021. ## **15. RELATED PARTY DISCLOSURES** There were no related party transactions for the years ended 31 March 2022 and 31 March 2021. Page 13 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** ||31.3.22|31.3.21| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Gift aid claims|2,442|4,032| |Donations|19,191|20,505| ||21,633|24,537| |**Investment income**||| |Rents received|24,100|21,739| |**Total incoming resources**|45,733|46,276| |**EXPENDITURE**||| |**Raising donations and legacies**||| |Rent rates and water|-|(1,637)| |Charitable expenses|3,961|5,149| ||3,961|3,512| |**Other trading activities**||| |Fixtures and fittings|110|147| |**Investment management costs**||| |Interest payable|9,110|9,769| |**Support costs**||| |**Management**||| |Insurance|569|524| |Light and heat|1,618|297| |Sundries|-|202| ||2,187|1,023| |**Finance**||| |Bank charges|104|72| |**Information technology**||| |Repairs and renewals|3,329|-| This page does not form part of the statutory financial statements Page 14 ## **MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** ||31.3.22|31.3.21| |---|---|---| ||£|£| |**Information technology**||| |**Governance costs**||| |Accountancy and legal fees|875|756| |Total resources expended|19,676|15,279| |**Net income**|26,057|30,997| This page does not form part of the statutory financial statements Page 15