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2023-03-31-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 2023

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 2023

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 hlUSI.IIM CULTURAI. & IVELFARE -4SSOClIlTION IUKI REPORT OF TIIE TRUSTELS FOR THE YEAR ENDED31 MARCH 2023 The trusicL% p￿'stn1 thLir rcwrt with ihe financial ￿a(C￿￿Tr￿ vf the cliarity for ihL year cndcd 31 Marth 2022. Thc tru5tce5 have adopted the provi5ion5 of Accountin¥ and R¢p)rtin& by Chanties". Stsicmcnl of Recornrncn￿.d Prdciice applicablc io charitiL% prL'parirtb their aecuunts in aLLur(knnee w'itji Ihc Financtal Rcwrtinb s￿ndard appli(blt In thc UK and Rcpublic of Ircland IFRS 1021 leff¢dive l Janw 20191 SI'RUCTURE GOIIEliTr'AINCE AND ￿lAINAGE￿IENT Ciovernink¥ document The LliJnLy L4 ccinirolled by its goveming ikncumcnL a dLal oftru$4 and cort%liW￿% 3 limileJ cotnpany. limitcd by guarniilLC, deflned by the Cornpanies Ad 21K>6. REFERENCE AND ADMIIN'ISTRATIVE DETAILS Rcgistercd Comp¥th!' numbcr 05361672 (Enbyland and Illalesl Registered Charity number 1110774 RLgllStered orritL Northoli UB5 4NL Trustees P V M VLlliytitiil A J R Kunhimon K M OIIE L?ra S PooLLlttl Ind¢ptttdctti Examiner J R ALLoiinis Chan¢r¥il CL*rtifi¢xi Accounlanls 164-166 High Road Ilfotd Essex IGI ILL Approvcd by order ofthe board ot tru51e&son l¥ ScpIcmb￿ 2023 and signed on ILS khalf by: P V M Vclliyatlil-Twust¢¢ 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 2023.

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

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

18 September 2023

Page 2

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
27,292
Investment income
2
24,800
Total
52,092
EXPENDITURE ON
Raising funds
3
31,469
Other
-
Total
31,469
NET INCOME
20,623
RECONCILIATION OF FUNDS
Total funds brought forward
390,758
TOTAL FUNDS CARRIED FORWARD
411,381		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 31.3.23
Total
funds
£
27,292
24,800
52,092
31,469
-
31,469
20,623
390,758
411,381		 31.3.22
Total
funds
£
21,633
24,100
45,733
19,557
119
19,676
26,057
364,701
390,758

The notes form part of these financial statements

Page 3

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

BALANCE SHEET 31 MARCH 2023

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
TOTAL FUNDS		 Unrestricted
fund
£
649,985
2,599
9,705
12,304
(30,756)
(18,452)
631,533
(223,487)
408,046		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 31.3.23
Total
funds
£
649,985
2,599
9,705
12,304
(30,756)
(18,452)
631,533
(223,487)
408,046
408,046
408,046		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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

MALAYAI.EE ￿lusLIm CUI.TUIIAI. & NVELFARE ASSOLlIl'l'lUN IUKI BALANCb. SIIELI. cunliiiued 31 ITrlARCFI 21123 ThLsL linanLial SI£?1¢tnLn￿ 1121 vc bcen prLPJILd in aLcord4LllC¢ Wlth ihL pr(Jvi%ions appliLLiblL 10 Lhai'iiablL cumpanics subjLLI 10 iliL St￿11 comptinics rLbJjmL. ThL' linL?ncidl Sli?Icincnis were approvLd by ihe ihe 18oar(l ot. Trusiccs ￿1nd auihiTrrisL'd lur ISSUL un 18 SLPtcinbcr 21123 and P V M VLlliyaiiil -'I'ruslL'L' Tlie not* form parl of Ilicse fjndllcldl %idiemenis Page 5

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

2. INVESTMENT INCOME
31.3.23 31.3.22
£ £
Rents received 24,800 24,100
3. RAISING FUNDS
Raising donations and legacies
31.3.23 31.3.22
£ £
Charitable expenses 14,077 3,961
Support costs 3,886 6,376
17,963 10,337
Investment management costs
31.3.23 31.3.22
£ £
Interest payable and similar charges 13,424 9,110
Aggregate amounts 31,469 19,557
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.23 31.3.22
£ £
Depreciation - owned assets 82 110

continued...

Page 7

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
21,633
Investment income
24,100
Total
45,733
EXPENDITURE ON
Raising funds
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
-		 Total
funds
£
21,633
24,100
45,733
19,557
119
19,676
26,057
364,701
390,758

continued...

Page 8

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

7. TANGIBLE FIXED ASSETS

Improvements
Freehold
to
property
property
£
£
COST
At 1 April 2022 and 31 March 2023
633,768
15,970
DEPRECIATION
At 1 April 2022
-
-
Charge for year
-
-
At 31 March 2023
-
-
NET BOOK VALUE
At 31 March 2023
633,768
15,970
At 31 March 2022
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
840
82
922
247
329
31.3.23
£
2,599
31.3.23
£
23,997
6,000
759
30,756		 Totals
£
650,907		 Totals
£
650,907
840
82
922
649,985
650,067
31.3.22
£
1,951
31.3.22
£
23,997
6,000
756
30,753
30,753

continued...

Page 9

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

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
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.22
£
390,758
390,758
Incoming
resources
£
52,092
52,092		 31.3.23
31.3.22
£
£
223,487
247,991
31.3.23
31.3.22
£
£
23,997
23,997
6,000
6,000
29,997
29,997
223,487
247,991
Net
movement
At
in funds
31.3.23
£
£
20,623
411,381
20,623
411,381
Resources
Movement
expended
in funds
£
£
(31,469)
20,623
(31,469)
20,623		 31.3.22
£
247,991		 31.3.22
£
247,991
31.3.22
£
23,997
6,000
29,997
247,991
At
31.3.23
£
411,381
411,381
20,623

continued...

Page 10

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.21
£
Unrestricted funds
General fund
361,366
Restricted funds
Designated fund
3,335
TOTAL FUNDS
364,701
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
45,733
Restricted funds
Designated fund
-
TOTAL FUNDS
45,733
A current year 12 months and prior year 12 months combined position is as follows:
At 1.4.21
£
Unrestricted funds
General fund
361,366
Restricted funds
Designated fund
3,335
TOTAL FUNDS
364,701		 Net
movement
At
in funds
31.3.22
£
£
29,392
390,758
(3,335)
-
26,057
390,758
Resources
Movement
expended
in funds
£
£
(16,341)
29,392
(3,335)
(3,335)
(19,676)
26,057
Net
movement
At
in funds
31.3.23
£
£
50,015
411,381
(3,335)
-
46,680
411,381

continued...

Page 11

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. MOVEMENT IN FUNDS - continued

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 97,825 (47,810) 50,015
Restricted funds
Designated fund - (3,335) (3,335)
TOTAL FUNDS 97,825 (51,145) 46,680

13. CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or at the end of the financial year.

14. CAPITAL COMMITMENTS

The charity had no capital commitments as at 31 March 2023 or 31 March 2022.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the years ended 31 March 2023 and 31 March 2022.

Page 12

MALAYALEE MUSLIM CULTURAL & WELFARE ASSOCIATION (UK)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

31.3.23 31.3.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gift aid claims 2,144 2,442
Donations 25,148 19,191
27,292 21,633
Investment income
Rents received 24,800 24,100
Total incoming resources 52,092 45,733
EXPENDITURE
Raising donations and legacies
Charitable expenses 14,077 3,961
Other trading activities
Fixtures and fittings 82 110
Investment management costs
Interest payable 13,424 9,110
Support costs
Management
Insurance - 569
Light and heat 1,246 1,618
Postage and stationery 353 -
1,599 2,187
Finance
Bank charges 200 104
Information technology
Repairs and renewals 1,089 3,329
Human resources
Software licences 142 -

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 2023

31.3.23 31.3.22
£ £
Human resources
Governance costs
Accountancy and legal fees 856 875
Total resources expended 31,469 19,676
Net income 20,623 26,057

This page does not form part of the statutory financial statements

Page 14