Company Registration No. 05254675 (EnglaDd aDd Wales) Regi8t¢r¢d Charity No. 1111582 THE BRICK L4NE JAMME MASJID TRUST (LONDON) LIMITED ANNUAL REPORT AND FllYANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 DECEMBER 2023 THE BRICK LANE JAMME MAUID TRUST (inNI)ON) iIMITED CONTENTS Page General and administrative information Trustees. Re￿rt Independent examiners, report Statement of financial activities Balan¢¢ sheet Notes to the financial statements 9-16 THE BRICK LANE JAMME mA￿[D TRUST (WI¥DON) LIMITED GENERAL AND ADMINisfRATfvE INFORMATION REFERENCE AND ADMINISTRATIVE DETAILS Trustees: Hamidur Rahman Choudhury- President Abdul Gofur Khalisadar- Senior Vice President Harniuz Ali- Vice President Syed Mortuza Ali- Vice President Nur Uddin- Vice Presideni Amir HLLssain- Vice Presid¢nt Haylal Uddin Ali - General Secretary Mohammed Alxlul Musabbir- Assistant Secretary Motiur Rahman- Assistant Secretary Hafijur Rahman - Assistant Secretary Mohammed Nun]l Hoque Lala Miah- Member Mohammad Iliyas - Member Yousuf Kamaly- Merntrer Altafur Rahrnan- Member Arfik Ali- Member Moshiur Rahman Choudhury- Member Ansarul Haque- Member Syed Khairul Islam - Member Abdul Khalik- Member Angur Ali- Member Suba Miah- Member Nurul 151am- Member Nure Alom Russell- Member Secret8ries". Haylal Uddin Ali- General Secretary Mohammed Abdul Musabbir- Assistant S¢cretary Registered Charity Number". 11582 Company Number. 05254675 Registered Offi¢¢: Quadrant House- Floor 6 4 Thomas More SquaTe London Elw IYW llldependeDt Examiner: Rachel Chim FCCA Quadrani House 4 Thomas More Square London Elw IYW Bankers: National Westminster Bank PIC Bishopsgate, PO Box 34 15 Bishopsgate. London EC2P 2AP THE BRICK LANE JAMME MA￿lD TRUST (LONDON) LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Brick Lane Jamme Masjid Trust (London) Limited ￿jamme presents its report and financial ststements for the year ended 31 Decernixr 2023. Details of the Charivs activities are available from its Head Office.. 59 Brick Lane, London E16QL Tel.. 020 7247 6052 FLY.. 020 7247 3787 The financial staiements have been prepared in accordance with the accounting policies set out in note5 to the accounts and comply Thiih the charity's goveming documenL the Charities Ad 2011. the Companies Act 2006 and Accounting and Reporting by Clwtties.. Statement of RecoMme[￿ed Practice applicable to chartties preparing their accounts in a￿ordanCe with the Fit￿)¢181 Rcporting Standard applicable in the UK atml Republic of Ireland (FRS 102) {effective l January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT The Brick Lane Jamme Masjid Trust (London) Limited {"Jamme Masjid") is a company limited by guarantee governed by its Memorandum and Articles of Association dated 4 0¢￿ber 2004. It was registered as a charity with the Charity Commission on 5 October 2005. The dtrectors of the charitable company ('the charity-) are its tr￿$tee$ for the PUTPOSe of the charity law and throughout this report are collectively referred to as the Trthstees. The Trustees serving during the year and sin¢¢ the year end were as follows.. Hatnidur Rahman Choudhury- President Abdul Gofijr I(halisadar- Senior Vice President Syed MortU2a Ali- Vice President Nui Uddin- Vice President Harrnuz Ali- Vio¢ President Amir Hussain- Vice President Haylal Uddin Ali- General Secretary Mohammed Abdul Musabbir- Assisiant Secretary Motiur Rahman- Assisiani Secietsry Hafijur Rahman - Assistani Secretary Mohammed Nurul Hoque Lala Miah- Member Mohammad Iliyas- MetnF£r Yousuf Kamaly- Mernber Altafvr Rahman- Member Arfik Ali-member Moshiur Rahrnan Choudhury- Mernber An5arul Haque- Member Syed Khaitul Islam- Member Abdul Khalik- Member Angur Ali- Member Suba Miah-M¢mber Nurul IslaTn - Metnber Nure Alom Russell THE BRICK LANE JAMME MA￿lD TRUST {LONDON) LiMrrED TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 21123 JaTnme Masjid is ihe legal owner a￿1 operator of the Masjid. The building was constructed in 1743 and was used as a mosque from 1976. The Board of Trustc¢s ¢omprises individuals who arc reputsble members of the Muslim comtnunity. The range of skills repr¢s¢nt¢d on the Truslee Board is kept under review and appoinknents to the Board are made by the Members of the Twst at the Annual Genenl Meeting every two years. The TnLStees are legally responsible for the governance and mana8emenL of Jamme Masjid. Board meettngs are held on a regular basis. The Board decides u￿n matters of strategy and overall policy. detemiirtes the priorities and sets tsrgets. The induction process for newly appointed Trusiees comprises of meetings with Board members, and covers governance. Documentaiion provided for new Trustees includes copies of the TnLSt Dee(L rel¢vant minutes and a history of the charity. The Tn￿teeS have adopted a More formal approach in respect of the induction and trdining of the Trustees. RISK ASSESSMENT The Trustees keep under regular review the major risks that could affeet their athieyemeni of the chartty's objectives. DurÉng the forthcomin8 year, a Comprehensive assessmeT]t of these risk5 will be catried out so th2L where necessary, Controls can be further improved and other xtions instiluted to mitigaie the exposure io those risks. OBJECTIVES AND ACTIVITIES The objeeiives of The Brtck Lane Jamme Masjid Ttust (London) Limited are as follows.. l) The promotion of ihe Islamic faith and in particular (printing the geneAlity of the foregoing) the promotion of ihe tvdching of the AHL-E-SUNNATH WAL JAMATH in the area of the Greater London Authoriry. 2) To facilitate perfomiance of prayer five titnes a day. holding of Cwo Eid congregation& special prayer, 151amic conferences. seminars. meetings, lectures and ￿m￿1n8 school for lslarnic dU￿tIOn. Along with general education for Muslim ¢hildren and youths. 3) PUBLIC BENEFIT The TnLslees have complied with the duty in S￿tiOn 17{5) of the 2011 Charities Act to have du¢ regard to guidance published by the Charity Commission with regard to public benefiL ACHIEVEMENT AND PERFORMANCE The Brick Lane Jamme Masjid was incorporated into a limited guarantee company and is registered with the Charity Comtnission. The Trustees and members have worked iirelessly to make the Masjid as it is tlmlay. The building was constructed in 1743 and it is evideni that a building as old as this requires a great deal of modemisatiott and structural reinfor¢ement to accommodate the new demands The matter is not helped by tli¢ fact that the building is a grade 11 listed strucDJre requiring a great deal of care and attention in the way it is upgrade(L adhering to the English National Heritage's r¢gul¥lion. The English National Heritsge is a regulatory body in charge of listed buildings and conservation areas. Modemisation of any listed structtjres requires consent and undergoes a great deal of scrutiny from the body. The regeneration plan illu5trat¢s th¢ forward thinking steps that are being taken by the Trustees to meet current demands while platu)ing for the us¢5 of generaiions ￿ come. THE BRtCK LANE JAII(ME MASJID TRUST (LONDON) LIMrfED TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE (continued) In 2022, significant improvements have made to the WOM￿ facilities. In Febw 2023. His Majesty King Charles Ill and Queen Consort Camilla paid a visit to the Brick Lane Jamme Masjid which was a joyous occasion. The Trust¢¢s are ￿dIe[u1 for their visit. The Trnstees would like to conv¢y their sincere thanks to the volunie¢rs. stsff, mussallias, managemeni, the lo¢al authorities and others who hay¢ $0 g¢n¢rously given their supp)rt 10 jaM￿C Masjid. With their supwt. we look fonvard io continue enhall¢iug th¢ deliveries of our clwi(able obj'ectives withiD the IxTrmmunity. FII¥ANCIAL REVIEW The main sources of income are from regular colleclions and donaÉions r¢¢eiva by the charity. The charity's incorne from regular coll￿tionS and donations in 2023 was £164,495 (2022.. £233,968) whilst income from trading activities and other income amount to £11,875 (2022.. £14.190}. After rtsoUr￿S expend￿ of £133,249 (2022.. £199.968). there was a surplus of £43.121 (2022: £48.1￿). Durnig the year, the charity has incurred expenditure on the general maintenance of the Iisied building in wbt'ch prayers are conducted. At the year end. total funds amount to £3.992.335 (20L?.. £3.949.214) out of wlll'ch £3m (2022.. £3m) relates to pernianent endowment fimd and £3,116 (2022.. £3,116) relates to r&stricted inwmc fund. RESERVES POLICY The Trustees have ¢stsblished th¢ level of reserves (thai is those fimLi8 that ar¢ freely available) that the charity ought to have. Reserves are needed to rn¢¢t the fixed numing costs and geDeral repairs to the property. The level of ￿erVeS held ts estimated at £30,O¢X). PLANS FOR THE FUTURE The M8sjid requires a great deal of modernisation ond structtwal reinforcement &8 the building is very old. A5 the building is grade Il listed strncture. any S￿￿ctU[al work rcqutres adherence to the English National Heritage's regulations. In 2024, the Trusttts will contillue to carry out general maintenance on the property in {￿e with guidance for a lisied proputy. tNVESTMEYf POLICY The charity h&s no inv&8tments apart frorn cash dwits retained with major UK retail banks. THE BRICK LANE JAMME MA&TID TRUST (LONDON) LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Trustees who are also the directors of the company ate ￿sponSible forpr¢paring the TNstees' Report and the financial staiemenis iu accordance with applicable law alld Uni*d Kingd¢)m Accounting Standards Iunit Kingdom Generdlly Accepted ACCO￿￿"ng Prnciice). Company law requires the Tn￿tts io preP￿t financial *atements for each fillancial year whi¢h give a t￿t and fair view of the state of affairs of the charity and thc incoming resources and application of ￿SourCes. including th¢ income and expendiDJre, of the charity for that period. In prepating these financial Sts*Mell￿ the Tntss are required to.. seleot suitsbl¢ accounting policies attd then 4yty thctn c￿sistentlY. observe the n￿th￿A% and principles the Charities SORP" make judgements and ¢stiTnate5 that are reasonable and prndenl" slate whether applicable UK Accounting Stsndards have becn follow￿. subject io any JDaterial d¢partures dis¢los¢d and explained in ihe accounts.. and prepate the financial 51aternents ¢)n the going CODcern basls unless il 15 inapproprtate to presume ihai the charity will continue in busin¢ss. The Tmstees are responsible for kttping pn)per accounting reCo￿S that di%lose with reasonable accurw at any time the financial position of the chartty and to enable them to ellsure that th¢ financial statements cornply with the Companie5 Act 2006. They are also responsible fot safeguarding th¢ assets of the charity and hence taking reasonable steps for the pr¢vention and de￿¢1]oll of fraud and oth¢r irregularities. This report has be¢n prepared in accordance with ihe special provisi{￿S relating to snMII compaT)ies within Part 15 of the Companies Act 21KJ6. Appr()ved by the Trustees on 10 Sepkmber 2024 and SI￿ on their behalf by: Haylal Uddin Ali General Secretary UHY Ha¢k•r Y￿rt9 LLP Quadrant House 4 Thoma5 More Square lonlkn EIW IYW Hackeryoung Chartered ￿COuntsnts INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES OF THE BRICK LANE JAIMME mA￿lDTRUsT {LONDONI LIMITED FOR THE YEAR ENDED31 DECEMBER 2023 report to the charity tr￿￿ee5 on my examination of the accounts of th¢ ¢ompany for the year ended 31 December 2023, which ar¢ set out on pages 7 to 16. Re5POnsibilities and basis ol report As the charity's twstees (and also its directors for the purposes of company law) you are re5pon5ible for the prepardtion of the accounts in accordallce with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the accounts of the company are not requtred to be audited under Part 16 of the 2006 A¢t 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 examinaiion I have followed the Directions giv￿ by the Chan"ty Commi55ion t]nder section 145(5Mbl of the AeL Independent e￿miner'S rtport I have completed my examination. I confm that TKTr matters have come to my aitention in ci)nne¢tion with the exarnination giving me cause to believe." accounting records were noi kept in re5pe¢t of the company as required by section 386 of the 2006 Act,. or the accounts do not accord with those accounting record5; or the accounts do not comply wrth the accounting requirements of section 396 of the 21M)6 A¢t other than any requirement thai the accounts give a 'true and fair, view which is not a matter c4)nsidered as part of an independent examtnation: or the accounts have not been prewaTed in accordance with the method$ and prin¢iples of the Statement of Recommended practice for ac¢¢)unting and reporting by chariiies applicabl¢ to Charities preparing their accounts in accordan¢e with the FinarKial Reporting Stsndard appIl￿ble in the UK and Republic of Ireland (FRS 102). I have no con¢erns and have come across no other matters in connection with the examinaÉaon to which attention should be drawn in this report in order io enable a proper understanding of the accounts to be reached. Ra¢hel Chim FCCA UHY Hacker Young Quadrant House 4 Thomas More Square London Elw IYW Date.. IL• S¢plember 2024 THE BRICK LANE jAL￿ME MA&IID TRUST (LOI¥DON) LIMITED STATEMENf OF FINATr4CIAL AcrtvrrtES FOR THE YEAR ENDED 31 DECEMBER 2023 Perniallemt e*dowmenl funds Ttstal Totsl re5tri£ted unrestricted fuDds funds Total furtds 2023 Ttstal funds 2022 Income #nd endowments frorn: Note Donaiions Other trading activities 164.495 11,875 164,495 11.875 233,968 14.190 Total 176.370 176,370 248,158 enditure OR: Charitable aciiyities Others 124.287 8.962 124,287 8,962 186,534 13.434 Total 133.249 133.249 199.968 Net movemen¢ in fvnds 43.121 43,121 48.190 ReeoDeili*tioo of funds Total fijnds brought forward 3,000.(KKI 3.116 946.098 3.949,214 3,901,024 Tot*1 funds ¢arTi¢d forw4rd 3.IXKI.000 3.116 989219 3,992.335 3.949.214 There are no Tecognised gains or losses othtt than db)se included in the Statement of Financial Activities. All incomin8 resources and resou￿ experwjed denve from continuing a¢tiviti¢s. THE BRICK LANE JAMME MA￿lD TRUST (LOlItK)N) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Fixed asset5 Tangible assets 3.842.120 3,844.934 Current assets Other d¢btors Cash at bank and in hand 13.515 383.764 10,053 364,630 397279 374,683 Creditors: amounts falling due one year (247,064) (270.403) Net ¢urrent assets 150.215 104280 Total assets less current liabilities 3,992.335 3,949,214 Net assets 3.992,335 3,949.214 The fuMd5 of the charity". Unrestricted income fund Unr¢stri¢tcd funds Restrictcd incomc funds Permanent endowment funds ETtdowment funds 989219 3.116 946,098 3,116 3.1)00,C(M) 3,000,IXK) Total charity funds 3.992.335 3,949214 Foi the financtal year ended 31 December 2023. the company w&% entitled to exemption fn)m audit under setlion 477 of the Companies Act 2006. N'o membei of the COTDPally has d¢posited a noiice. pursuant to section 476, reqwring an audit of these rttllncial statrmenL8 under ihe requirenKnts of ihe Companies Act 2(M)6. The d1￿CtOrS acknowledge their resp￿S]bilItIeS for ensuring that the compally keeps ￿Qunting r￿OrdS which comply with section 396 of the Act and for preparing fmancial statements which give a (Tue and fair view of the state of affairs of the company &$ At the end of the financial year and of its incoming ￿50￿[￿S and applicaiion of resources. including the incon￿ and expendittwe. for ihe fmancial year in accordance with the requirements of sections 394 and 395 and whi¢h otherwise comply wilh the requtsements of the C(M]panies Act 2006. ttlating to accounts, so far as applicable to the company. The financtal stAtements have been prepared in accordance wÈth th¢ provisions applicable to companies subject io the small companies. regime within Part 15 of ihe Companies Act 2￿6. Approved by the Board and authori*d for isw¢ on 10 September 2024: Haylal Uddin Ali Secretary Company RegistratioTh No. l)525467S President THE BRICK LANE JAMME MASJID TRUST {LOI¥DON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polieies l. J Basis rfpreporation The financial Statements have been prepared in accordance wtth Accounting and Reporting by Charilies.. Staiemenl of Recommended Pra¢tire applicable to charilies preparing their accounts in accordance with the FinarKial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) {effective l January 2015)- (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdotn and Republic of Ireland (FRS 102) and the Companies Act 2006. The TnLSt constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterlin& which is the functional cU￿encY of the company. Monetary amounts in these financial 5tstements are rounded io the nearest £. The Brick Lane Jamme Masjid Trust (London) Limited meets the definition of a public entity under FRS 102. The fitthn¢iai statements have been prepared on the historical ¢ost convention and the principal accounting policies adopted are sd oui klow. 1.2 Ineamins resources All incoming resources are recognised when ihe charity has entiilement to the fund& certainty of the receipt and the amount can be rn￿Ured with sutTicient reliability. DonatEons andcolleclions Donations and collections are recognised on a receivable b&sis where there 15 certainty of receipt aThl the amouni Can be reliably measured. Mgmbershi ees Membership fees are recognised when they ar¢ due from the members. rGEdre Refund is re¢ognÉsed when there is cenainty of receipt and amount be reliably measured. Other Iradi activities Other trading activities comprises of in¢oJne receivable from the hall hire. 1.3 Volunieers The Value of services provided by volunleers is not Incorpo￿ed into these finan¢i81 siaiements. 1.4 Resotlrces expepidedand b￿15 rfallocaiion ofeatts Liabilities are recognised on the accruals b&sis in a¢¢ordance with norniai a¢¢ounting principles, modified where ne¢essary. THE BRICK LINE JAMME MA￿lD TRUST (LONDON) LIMrrED NOTES TO THE FINANCIAL STATEMEKrs (coiYriNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 I. AccouDting policies (cotttinued) Charitabl tivitie5 These are the costs Tncurred in the operation of the charity. Oiher cosls Other costs comprise all costs involving the public accountabiliry of the Charity and its complianoe with regulation and good practice. including the statutory independent examination and legal fees. These ¢osts primarily include costs ass(Kiated with managing the Masjid. I￿ecOVerable VA T All resources expended are classified under activity headings that aggregate all costs relaled to the category. Irrecoverable VAT is charged against c*egory of resources expended for which it was incurred. J.5 Tangiblefixtda55el Land and buildings are included in the accounts at Cost or at T￿￿tees. valuation where the cost is not readily available_ The proFtrty is carried at Tr￿Ste¢S valuation. subject to irnpaiTment reviews as residual values will be maintained through continual improvements. Repairs and mainietkance costs are written off entirely in the year of expenditure. Other tangible fixed assets are stated at cosi less depreciation. Depreciation is provided at rates calculated to write off ihe cost less estimated re5idua] value of each asset over its expected useful life. Ls follows". Fixtures, fillings and equipment IT equipment 25D/• Reducing balance 25OA Reducing baiance No depreciation is charged on freehold land and buildings ￿ trustees are of the opinion that the property has been well maintained and the value of the property h&$ increased. 1.6 Endowmentfund The Endowment fund represents those assets which must be held pennanently by the charity, principally the Masjid. Any gains or losse5 ar15ing on the rev￿￿allon of the property forni part of the fund. 1. 7 Fundslrnclzffe Unrestricted funds are available for use at the discretton of the Trustees in furtheran¢e of the general objectives of the charity and which have rL)t been designated for other puwes. Restricted funds are funds which are to be used in a￿orda￿e with specific restri¢tions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The restricted funds are not considered to be material and therefore the aims and use are not disclosed separately. 1.8 Toxalion As a charity, it is exempt from UK cofjx)raiion lax to the extent that its in¢ome is applied to its charitable objects. No liability arose in the y¢ar. 10 THE BRICK LANE JAMME MASIID TRUST {LONDON) LIMITED NOTES TO THE FINANCIAL sfATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 1.9 Legal s¢alus ofihe chariry The charity is a company limited by guaraniee and ha5 no share capital. The liability of each member in the event of winding up is limited to £1. I.JO Going eoncern The accounts have beeT] prepar¢d vnder the going concern basis as the trustees are of the opinion that the charity's forthcoming events. will generate levels of funds which are compardble to that a¢hieved in the year under review. The funds so generated. whi¢h will more than cover minimal operational costs, will enable the charity to meet its obligaiions as they fall due. l.jl Financial I￿truMen[S The company has elected to apply the provislons of Section I I 'Basic Financial Instrument5, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instru]n¢nts. Financial instruments are recognised in ihe company's statement of fin￿]&] position when the company becomes party to the ¢ontractua] provisions of the irstrument. Financial assets and liabilities are offseL with the net amounts presented in the financial statements. when there is a lega]ly enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. Basi¢ finaDci*I assets Basic financial assets. which include debtors and cash and bank balances. are initially measured al transaction price including tran&iction costs and subsequently ca￿led at amortised cost using the effective inierest method unles5 the arrangemeni constitutes a financing transaction, wheie the tratLsaction ts m¢asured at lihe present value of the fuiure r¢¢eipts discounted at a market rat¢ of int¢r¢st. Financial assets classified ￿ receivable wiihin one year are not amortised. ImpainneDt of fJnaThci#l #ssets Financial assets. other than those held at fair valu¢ through profit and loss. are ￿SSed for indi¢atOTS of impairment at each reporting end date. Financial assets are impaired where there is objective evidence thaL as a result of one or more events that occurred after the initial recognition of the financial asseL the estimated fuNre cash flows have been affected. If an asset is impaired, the impairmeni loss is the difference ktween ihe ¢arrying amount and the present value of the estimaled cash flows discounted at th¢ a$5¢t's original effective interest rate. The impairnient loss is recognis¢d in profit or loss. If there is a decrease in th¢ impaiment loss arising from an event 0￿Urring after the impairnient w&s recognised. the impairnient is reversed. The reversal is such that the current ¢aTrying amouni does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment r¢v¢r5al is recogntsed in profit or loss. Derecognition of fin*nti#l assets Finanrial asset5 are derecognised only when the ¢ontra¢tual rights to the ftows from the asset expir¢ or are settled. OT when the company transfers the finan¢ial asset atKI substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of owt]ership are retained but control of the asset transferred to another party ihat is able to sell the asset in its entirety to an unrelated third paity. THE BRICK IAIYE JA1￿mE MASJID TRUST (LONDOW LllkTITED NOTES TO THE FINANCIAL STATEmEr￿r5 FOR THE YEAR ENDED31 DECEMBER 2023 ecounting poli¢1￿ (continued} Classifleatlon of fJn*n¢i¥l liabilities Financial liabilities and equitv instnunents are classified according to the substance of the contra¢lual arrangemenls entered into. An equity instrument is any contract that evidences a residual interest in Ihe assets of the company after deducting all of its liabililies. Basic financial liabilities Basic financial liabililies, including credttors, bank loons, loans from fellow group companies and preference shares that are classified &s debt, are initially recognised at transaction price unless the arrangement constitutes a financing transactioty where the debt instnllnent is measured ai the present Value of the future r¢¢eipts discounted at a market rate of interest. Finan¢iai liabilities c1&5sified as payable within one year are not amortised. Debt instruments are subsequently ¢￿i¢d at amortised cost. ￿Sing the effective interest rate m¢thod. Trade creditors are obligations to pay for goods or services that have been acquired in the orditwy ¢ourse of business from suppliers. A wnounts pa)'able are ¢1￿]ried as Current liabilities if payment is due within one year or less. If not, they are presented as nonNDON) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 DebtOTS 2023 2022 Prepayments Membership fees 10.865 2.650 10,053 13.515 10,053 Cr¢ditors: atllOUDts falliDg due witbill one yur 2023 2022 Sundry loan5 Trade and other creditors Accruals 238.820 2,889 5,355 243,820 21.744 4,839 247.064 270,403 Sundry loans are intetest-fr¢¢ loans made lo the Masjid. Statement of funds Atl JanuAry IncotDiug 2023 R¢sources At31 Re50UTces December Expended 2023 UDrestrieted revettlle funds General funds Restricted reyenue funds Permanent endowment funds Endowment funds 946,098 3,116 176.370 {133,249) 989,219 3,116 3.000,(4)o 3,01)0.000 3.949,214 176,370 (133,249) 3,992,335 14 THE BRICK LANE jA￿[ME MASJID TRUST (LONDON) LIMrrED NOTES TO THE FINANCIAL STATEMEiYrs (CO￿[NUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10. Analysls of llet assets by funds Pernianellt endowment Restricted Unrestricted funds funds funds Total funds 2023 Total funds 2022 Fixed assets Current assets Creditors duc within l year 3,OCM),O¢XI 842,121 394,162 (247,064) 3,842.121 3,844,934 397,278 374,683 (247,064) (270,403) 3,116 3.(M)O,(KK) 3.116 989.219 3,992.335 3.949,214 11. Staff Costs 2023 2022 Wages and Sa[￿leS 48.030 45,201 No employee earned more than £60.(￿ during the perio The average weekly number of employees during the perio& a5 calculatal on a fi￿1 time equivalent basis. was as follows.. Number of employees 2023 Number of employees 2022 Administration 12. Trnn5action5 7Vith trustees No trustee or any person comwied with a trustee has r￿e1ved or is due to receive any iemunerdtion or expenses for the year directly or indirectly from the charity's fimds. 13. Capitsl commitments There were no capital commitments as at 31 December 2023. 15 THE BRICK LANE JAMME MA￿lD TRUST (LONDON) LI￿l￿rED NOTES TO THE FINANCIAL sfATEMEiYfs (CONTINUED) FOR THE YEAR ENDED JI DECEMBER 2023 14. Comparative Ststernellt of Financial Activities Pernanent endowtnent funds Total Total restricted lltyrestricted funds funds Total ds Ineome and endowm¢n¢s from: Donations Other trading activities Other 2i3.968 14,190 23i,968 14,190 Total 248.158 248.158 Exp¢nditsre on: Charitable activities Others 186.534 13,4i4 186,534 13,434 Tothl 199.968 199,968 Net movernent in fuDds 48.190 48,190 Recontiliation of Total funds brought forward 3.000,IJ)O 3,116 897.908 3,901,024 Total funds carried fornard 3,(Y)O,OCN) 3.116 946,098 3,949,214 16