BANGLADESH WELFARE SOCIETY OF BARNET (BWSB) Trustees, report and Financial statements For the year ended 31 December 2024 The rear of 18 Brookhill Road East Barnel EN4 8SD Registered charity no.. 1111008
CONTENT Page Legal and Administrative Information About BWSB Structure: Governance and Management Financial Review Independent Examiner's Report to the Board of Trustees of BWSB Statement of Financial Activities Balance sheet Notes to the financial statements 10 11
LEGAL AND ADMINISTRATIVE INFORMATION Status The Irustees, who are also the directors for the purposes of company law, present Iheir report and the unaudited financial statements of the charity for the year ended 31 December 2024. Board of Trustees Anhar Miah Badrul Islam Belal Ahmed Chowdhury Gousul Bari Chowdhury (Chairman) Haji Abdul Gaffar Jamal Miah Kalam Matin Mohammad Fozlul Hoque Mohammed Nurul Islam Mohammed Fozor Ali Mohammed Ochi Miah Ruhul Amin (Secretary) Siraj Uddin Tofozzul Miah Company secretary Belal Ahmed Chowdhury Registered charity number: 1111008 Company registration number: 05314510 Registered Office The rear of 18 Brookhill Road East Bamet EN4 8SD Independent Examiner Alamgir Hossain, ACCA Accountant Charity Finance and Accounting 64 Gale Street Essex RM9 4PA Bankers Barclays Bank UK PIC Whetstone Branch London N20 OPB Page 1 of14
ABOUT BWSB Our Objectives Our objectives are to promote the Bangladeshi Cultural Heritage., to encourage the celebration of special events such as the Independence Day of Bangladesh,. to encourage ethnic minorities to socialise in their spare time: to provide services to teach English to those with limited ability. to provide help to the elderly in the community" to help integration between all societies in the community; to promote female independence" to promote voluntary work in the local community and to advance education, particularly among persons of Bangladeshi origin- to provide knowledge of Religious Education and literacy of Bengali language. membership and finance which meet more regularly. Achievements and Performance: Over the past five years, BWSB has continued to serve the local community by offering.. Five daily congregational prayers Weekly Jummah prayers Taraweeh prayers during Ramadan Eid prayers Additionally, our appointed experts have completed comprehensive reports that will enable us to commence the tendering process for the upcoming new-build project. Our mission We envision a society where Bengali heritage and culture are actively promoted and appreciated. In November 2024, we successfully organised a joint charity fundraising dinner in collaboration with our neighbouring mosque. IANL. The event was well-received by the community and resulted in a significant amount of funds being raised towards our ongoing development project. What we do We seek to meet the needs of the ever-growing Muslim community in Barnet by providing and facilitating good practice in faith, community development & educational services. Future charitable activities Organisation Bangladesh Welfare Society of Bamet Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 16th December 2004. It is registered as charity with Charity Commission. Anyone over the age of 18 and is a resident or working in the London Borough of Bamet and agrees to pay an annual subscription of £20.00 par annum can become a member of the company and there are currently enty-One members. each of whom agrees to contribute £10 in the event of the charity winding up. Our vision for the future is centered around the completion of a new purpose-built mosque that will better serve the needs of our growing community. To achieve this. our primary focus remains on fundraising, with a target of raising approximately £2 million to cover construction costs. Key priorities moving forward". The tendering process for the new build will begin shortly, and we aim to appoint a company that is competitive, reliable, and fully aligned with our project requirements. We anticipate construction to commence in 2026, subject to securing the neSSary funds. The board of trustees consists of fourteen members to administrate the Charity. The board meets quarterly and there is a subcommittee covering development, Page 2 of 14
series of community engagement initiatives and social media campaigns are planned to help raise the remaining balance. Discussions are also underway with local charities and landlords to secure temporary facilities while construction is in progress. We recognise that maintaining our current activities during the redevelopment period will be challenging, but with the strength, unity. and dedication of our community, we are confident that we will succeed. Insha'Allah. Page 3 of 14
STRUCTURE: GOVERNANCE AND MANAGEMENT Governing document Bangladesh Welfare Society of Bamet Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 16th December 2004. It is registered as charity with Charity Commission under charity number 1111008. make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. 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 ststements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees for the purposes of charity law who served during the year and up to the date of this report are set out on page 1. Organisational structure The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and re1ve no remuneration or other financial benefits from the Charity. The Board meets quarterly to review the organisation's progress and strategy and maintain financial oversight. As a small organisation, there is a strong level of involvement of the Board in supporting BWSB'S growth and development ranging from fundraising support to drafting policies and representing the organisation at external events. Risk Management The Board of Trustees has a risk management strategy which comprises.. A quarterly review of the risks the charity may face. The establishment of systems and procedures to mitigate those risks identified. The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. Trustees Responsibility Statement The trustees are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (UK GA4P). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each 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 period. In preparing the financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charity SORP", The main risks identified by the Board of Trustees this year include= The reputational risk of working with other organisations or individuals which may affect our credibility amongst our diverse range of stakeholders. Changes to the law on charities and campaigning. The Board is staying up to Page 4 of 14
date with developments and ensuring that BWSB remains compliant with requirements. existing trustee assisting on particular activities and projects run by the charity. After satisfactory feedback from existing trustees, they are then given the task of leading a particular activity or project and reporting progress at trustees, meetings. Recruitment and appointment of trustees The existing trustees are responsible for the recruitment of new trustees but in so doing the trustees seek the views and recommendations of both elders and community leaders. The trustees believe this approach ensures that new trustees are respected members of the local communities and ensures that good relations are fostered between the organisation and the people of the local community that we seple. In selecting new trustees, we seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees, Meetings as observers and are given more details of the charitvs aims and activities and, if all agree, they are then proposed as new trustees al the subsequent trustees, meeting. This process allows due consideration of the person's eligibility, personal competence. specialist knowledge and skills. Volunteers recruiting procedure BWSB'S work would not be possible without the large numbers of volunteers who get involved in the day-to-day office activities as well as supporting events and other activities. Volunteers are an important resource in both our faith and community work. Volunteers are involved in rnosl of our faith and community. We encourage all members of our foundation lo be involved in voluntary activities and to share their skills with others. All those volunteers working with projects involving children or other vulnerable groups are subject to CRB checks. Public benefit The Board of 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. Induction and training of trustees Following the appointment, new trustees are introduced to their new role and given copies of the trust deed and a guide to Ihe policies and procedures adopted by our charity. Several publications from the Charity Commission are also provided including the guidance on charities and public benefit and the advancement of religion for the public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act. Initially. new trustees work with an Page 5 of 14
FINANCIAL REVIEW The financial statements have been prepared in accordance with the accounting policies set out on page 11 of the attached Financial Statements and comply with applicable laws and requirements of the 'Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) issued by the Charity Commission. The trustees have identified no material uncertainties that may cast doubt on the ability of the charity to continue as a going concem. Income 6V. 94°/0 Income Donation Rent The charity's total incoTne for the year was £318.9k (2023: £177.9k), a signrficant increase compared to the previous financial year. The Charity received a rental income of £20k from its property investment. Expenditure Our total expenditure for the year ended 31 December 2024 was £106.3k (2023.. £63.4k). The expenditure on the charitsble objective was £60k (2023= £60k). The fundraising expenditure for the financial year was £17.4k (2023: £3k) Three years, income trend (£000) How our money spent 16% 56Yo 27Y(t Fundraising Charitabte activities . Propety hAanagement 2022 2023 2024 Page 6 of 14
Net assets The balance sheet for the charity shows a balance of net assets of £1.2m. compared to £1m in the previous year, representing an increase of £212.6k in the working capital and reserves. The accounts of the Charity were approved by the Board of Trustees on 12 September 2025 Financial risk The Board of Trustees has the overall responsibility for ensuring the Charity has an appropriate system of controls, financial and otherwise, across the entire organisation in order to provide reasonable assuran that: Its assets are safeguarded against unauthorised use or disposition, Proper records are maintained and that financial information is reliable, The Charity cornplies with relevant laws and regulations. Goosul Bari Chowdh Chairman Tofozzul Miah Trustee Tangible fixed assets The Charity purchased a property during the year for investment purpose. Investment policy The Investment Policy of the Charity is to invest its surplus funds in properties that will generate income for the Charity. The profit generated from investment properties is utilized for charitable purposes. Company Secretary Reserve policy The Trustees recognise the need lo hold sufficient reserves to allow protection of core activities in the event of any income shortfalls to implement long-term strategic programmes and enable BWSB to cary out its essents'al projects. The reserve policy ensures, as far as possible, the sustainability of charitable activities across various sectors. Page 7 of 14
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF BWSB Independent examinerfs report to the trustees of Bangladesh Welfare Society of Barnet Limited ('the Company.) Independent examiner's statement I report to the charity Irustees on my examination of the accounts of the Company for the year ended 31 December 2024. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe.. Respective responsibilities of Trustees and Examiner accounling records were not kept in respect of the Company as required by section 386 of the 2006 Act.. or As the chartvs trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirernent that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or It is my responsibility to: examine the accounts under section 145 of the 2011 Act; 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(bl of the 2011 Act- and to state whether particular matters have come to my attention. Basls of independent examiner's report 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 ofthe accounts to be reached My examination was carried out in accordan with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently. no opinion is given as to whether the accounts present a 'true and fair view. and the report is limited to those matters set out in the Statement below. Alamgir Hossain, ACCA London Date: 12 September 2025 Page 8 of 14
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2024 Unrestricted Restricted Funds Funds Total 2024 Total 2023 Notes INCOME Voluntary inGome." Donations 298,510 298,510 157,484 Rent income 20,400 20,400 20,400 TOTAL INCOME 318,910 318.910 177,884 EXPENDITURE Costs of raising funds: Fundraising cost Propety Managemenl Costs 17,440 28.911 17,440 28,911 3,301 Expendltura on charltable activities: Programme expenditure 59,997 59,997 60,081 TOTAL EXPENDITURE 106,348 106,348 63,382 Net incomel(expendlture) and net movement in funds for the year 212,562 212,562 114,502 Reconciliation of funds: Total Funds brought fonyard 1.023.668 1,023,668 1,023,668 Total funds carried forward 1,236,230 1,236,230 1,138,170 The slatement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Page 9 of 14
BALANCE SHEET As at 31 December 2024 Notes 2024 2023 Fixed assets Tangible assets Investments 884,450 893,760 884,450 893,760 Current assets Debtors Cash at bank and in hand 210,000 180,279 120,000 52,907 390,279 172,907 Credltors: amounts falling due within one year (38,499} (42,999) Total assets less current liabilities 1,236,230 1,023,668 Creditors.. amounts falling due after more than one year Net assets 1,236,230 1.023,668 The funds of the charity: Unrestricted income funds General fund Restricted income funds 1,236,230 1,023,668 Total charity funds 1,236,230 1,023,668 For the year ending 31 December 2024, the charity was entiued to exemption from audit under section 477 of the Companies Acl 2006 relating lo small companies. Directors, responsibilities- .The members have not required the company to obtsin an audil of its financial ststements for the year in question in accordance with section 476., .The directors acknedge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial ststements. These financial slatements have been prepad in accordance with the provisions applicable to companies subject to the small companies. regime. These finanGial slatements were approved by the board of trustees and authorised for issue on 12 September 2025, and are signed on behalf of the board by: Gousul Bari Chowdhury Chairman Ruhul Amin Company Secretary Page 10 of 14
NOTES TO THE FINANCIAL STATETh.fjFNT For the year ended 31 December 2024 1 Accounting policies Basis of accounting The financial statement5 of the charitsble 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 2015)., Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, inclLwJing expectstions of future events that are believed to be reasonable under the CircumstanS. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any ol the charity's purposes. b) Basis of preparation The financial statements have been prepared on the historical cost basis, as modrfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendilure. Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment. The financial statements are prepared in sterling, which is the functional currency of the entity. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of sub- classes: restricted income funds or endowment funds. Going concern There are no material UnrtaIntieS about the charity's ability to continue. g) Incoming resources All incoming resources are included in the ststement of financial activities when entitlement has passed to the charity- it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: d) Disclosure exemptions The entity satisfies the criteria of being a qualrfying entity as defined in FRS 102. As such. advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (al No cash flow ststemenl has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. income from donations or grants is recognised wthen there is eviden of entitlement to the gift, the receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. Page11 of14
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and ServIS are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, jusb"fiable and consistent basis. Tangible flxed assets and depreciatSon Non-programme expenditure of more than £50 per item for buildings, equipment and leasehold improvements is capilalised at cost. Depreciation is provided at rates calculated to write off the cosl less income from contracts for the supply of services is recognised with the delivery of the contracled service. This is classified as unrestricted funds unless there is a contractual requirement for il to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. the residual value of each asset over ils expected useful lrfe, as folk)ws: Leasehold properties Straight line over the life of the lease 1 % straight line 250/0 straight line 100/0 Straight line 15 % straighl line 15 % straight line Freehold properties Computers and sofvare Fixtures and fittings offi equipment Motor vehicle5 h) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= i) Taxation As a regislered charty. BWS8 is exempt from taxation of income and gains to the extent these are applied to charitable objectives. expenditure on raising funds includes the costs of all fundraising activities. events, non- haritsble trading activities. and the sale of donaled goods. k) Limited by guarantee The liability of the company is limited by guaranlee and has no share capital. The liability of each member in the event of winding up is limited to £10. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for Ihe charty nor part of its expenditure on charitable adivities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to Pape 12of14
Unrestricted Restrlcted Funds Funds Total 2024 Total 2023 Donations General Donation Membership fees 298.510 298,510 157,484 298,510 298,510 157,484 Analysis of expenditure on charitable activities 2024 Total costs 2023 Total costs Direct costs Support costs Cost of generating funds Property Managemenl Costs 13.975 28.911 3.465 17,440 28.911 3.301 Charitable activities Prayer Service and other activities 48,075 11,922 59,997 60,081 Total Charitable actlvities 48.075 11.922 59,997 60.081 Total expenditure 90,961 15,387 106,348 63,382 Anatysls of support costs 2024 2023 Support costs Finance and IT costs offi Expenses Governance costs 446 12,072 3,432 15,387 15,387 15,950 Tangible fixed assets Freehold Buildin Building renovation Furniture & Equipment Total Cost At 1 Jan 2021 Addltions 931.000 931.000 As at 31 Dec 2021 931,000 931,000 Depreciation At 1 Jan 2021 Charge for the year As at 31 Dec 2021 37,240 9.310 37,240 9.310 46,550 46,550 Net book values At 31 Dec 2021 884,450 884,450 NBV at 31 Dec 2020 893,760 893,760 Page 13of14
Debtors 2024 2023 Loan given to other Charities 210.000 120,000 210,000 120,000 Creditors: amounts falling due within one year 2024 2023 Qurd Hasana Loan Other creditors 36,000 2,499 40,500 2,499 38,499 42,999 Movement of funds Asat 01 Jan 24 Incoming Resources Resources Expended Asat 31 Dec 24 Unrestricted funds General fund 1.023.668 318,910 (106,348) 1,236.230 Total unrestrlcted funds 1,023,668 318,910 (106,348) 1,236,230 Restrlcted funds Total unrestricted funds TOTAL 1,023,668 318,910 1106,348) 1,236,230 The charity did not collect any new Qarz Hasana (loan). but refundsed £4,500 lo two individuals during the financial year. The outstanding balan of loan as al 31.12.2024 was £36.000 Page 14 of 14