**Charity number: 1116452 Company number: 05323060**
## Nimab Welfare Trust
(A company limited by guarantee)
Trustees' report and financial
statements
for the year ended 31 March 2022
Nimab Welfare Trust (A company limited by guarantee)
## Contents
||Page|
|---|---|
|Legal and administrative information|1 - 2|
|Trustees' report|3 - 4|
|Independent examiners' report|5|
|Statement of fnancial activities|6|
|Balance sheet|7|
|Notes to the fnancial statements|8 - 13|
## Wadi Howar Welfare Trust (A company limited by guarantee)
## Legal and administrative information
|Charity number|1116452|
|---|---|
|**Company registration number**05323060||
|Business address|Great Francis Street|
||Nechells|
||Birmingham|
||B7 4QN|
|Trustees|Abdulrazak Ajayi (Chairman)|
||Dr Ibitoye Ajeigbe|
||Ibrahim Kuti|
||Azeez Olanrewaju|
||Habiba Sodeinde|
||Muslimat Adeosun|
|Secretary|Olumuyiwa Olukoya|
|Management committee|Semiu ApanishilePresident|
||Wasiu Onakoya Vice President|
||Rashid Okuribido Treasurer|
||Kudirat Oyelami Financial Secretary|
||Hafeez Oladimeji Assistant General Secretary|
||Rashidat Bolarinwa Social Secretary|
||Jamiu Omotesho Public Relations|
||Wasiu Onakoya Internal Auditor|
||Faridah Okunnu Education and Children Afairs|
||Ajibike Security and Health & Safety|
||Rashid Okuribido Welfare Secretary ( Male)|
||Nurat Alogba Welfare Secretary ( Female)|
||Robiyat Biliaminu Women’s Afairs|
||Ismail Youth Afairs|
||Wahab Kazeem Resident Imam|
|Accountants|Abbey Lincon UK Ltd|
||Pentos House|
||14 Pentos Drive|
||Birmingham|
||B11 3TA|
|Bankers|Barclays Bank Plc|
||Islamic Bank of|
||Britain|
Page 2
## Nimab Welfare Trust Charity No: **1116452**
## Report of the trustees for the year ended 31 March 2022
The trustees present their report and the financial statements for the year ended 31 March 2022. The trustees of Nimab Welfare Trust who served during the year and up to the date of this report are set out on page 1.
## Structure, governance and management
The trust is governed by its constitution, and it is registered with the Charities Commission under reference 1116452.
## Objectives and activities
The objects for which the trust is established are to promote social integration and improve welfare of members.
Other objects of the trust are to advance education and to provide facilities which would increase social welfare, recreation and leisure time occupation with the prime aim of improving the conditions of life for the inhabitants of Birmingham..
## Achievements and performance
In order to achieve the above objectives and more contained in the constitution, the Trust has been able to acquire a centre to be used as Community Centre. The centre is now used for multifunction which includes Eid festival and prayers, family support programmes, women empowerment programmes to mention a few. The Trust has also held events where youngsters have participated in the advancement of cultural education and social integration within the community.
## **Future plans**
- To raise additional funds to pay off the balance of the mortgage
- Establish language classes on weekends
- Organising sporting events
- Embark on projects that will promote community integration
Full details of income and expenses are given on page 6 of the accounts.
Page 3
## Nimab Welfare Trust Charity No: **1153156**
## Report of the trustees (incorporating the directors' report) for the year ended 31 March 2022
## Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The trustees are required to prepare financial statements for each financial year which give a true and fair view
of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable
company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
## Small company provisions
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
On behalf of the trustees
____________________Abdulrazak Ajayi Chairman
28 December 2022
Page 4
## Nimab Welfare Trust Charity No: **1116452 Independent examiner's report to the trustees on the unaudited financial statements of Nimab Welfare Trust** .
I report on the accounts of Nimab Welfare Trust for the year ended 31 March 2022 set out on pages 3 to 14.
## Respective responsibilities of trustees and independent examiner
The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this
year under section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3) (a) of the Act, as amended; to follow the
procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; and to
state whether particular matters have come to my attention.
## Basis of independent examiner's statement
My examination was carried out in accordance with the 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 in 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.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- (i) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep proper accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of
- section 396 of the Companies Act 2006 and with the methods and principles of the
- Statement of
Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be
reached.
______________________________
Abbey Adebambo, FCA, ACCA Independent Examiner Abbey Lincon UK Limited Accountancy, Taxation & Mgt Consultancy Pentos House 14 Pentos Drive Birmingham B11 3TA
28 December 2022
Page 5
## Nimab Welfare Trust Charity No: **1116452**
## **Statement of financial activities (incorporating the income and expenditure account) for the year ended 31 March 2022**
|
|Restricted Unrestricted 2022 2021
funds funds Total Total
Notes
£
£
£
Incoming resources
Incoming resources from generating funds:
Voluntary income 2 41018
95040 136058 62817
Interest received -
-
-
-
Total incoming resources41018
**95040**
**136058**
**62817**
Resources expended
Costs of generating funds:
Cost of generating voluntary income 3 - 8487784877 39063
Governance costs 4 -
3214
3214
10262
Total resources expended -
**88091**
**88091**
49325
**Net incoming/(outgoing) resources for the year /**
**Net income/(expenditure) for the year 41018**6949 **47967**
13492
Total funds brought forward -
57955
57955
44463
Total funds carried forward41018
**64904**
**105922**
**57955**|
|---|---|
The notes on pages 9 to 14 form an integral part of these financial
statements.
Page 6
## Nimab Welfare Trust Charity No: **1116452**
## Balance sheet
## as at 31 March 2022
|||||2022||2021|
|---|---|---|---|---|---|---|
|||Notes|£|£|£|£|
||Fixed assets||||||
||Tangible assets|8||173423||198198|
||Current assets||||||
||Debtors|9|-||1800||
||Cash at bank and in hand|||37673||38359|
|||||37673|||
|40159|||||||
||Creditors: amounts falling||||||
||due within one year|10|(17303)||(17303)||
||Net current liabilities|||20370||22856|
||Total assets less current||||||
||liabilities|||193793||221054|
||Creditors: amounts falling due||||||
||after more than one year|11||(87871)||(163099)|
||Net assets||||**105922**||
||**57955**||||||
||Funds|12|||||
||Unrestricted income funds||||105922|57955|
||Total funds||||105922|**57955**|
**President Treasurer**
The Balance Sheet continues on the following pages.
The notes on pages 9 to 14 form an integral part of these financial
statements.
Page 7
## Nimab Welfare Trust (A company limited by guarantee)
## Notes to financial statements for the year ended 31 March 2022
1. Accounting policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
## 1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Companies Act 2006.
## 1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
## 1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## 1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated
to write off the cost less residual value of each asset over its expected useful life, as follows:
- Land and buildings Straight line over 50 years Fixtures, fittings and equipment -25% straight line
Page 8
## Nimab Welfare Trust (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2022
|2.||Voluntary income||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Restricted Unrestricted||||2022||2021|
||||funds|||fundsTotal Total||||
||||||£||£|£ £||
|||Donations|-|95040||95040 27391||||
|||Heritage donation|9900||-|9900|||-|
|||Mosque project|27608|||-||27608||
|40550||||||||||
|||Janaza receipts|3510
|||-
|||3510|
|3614||||||||||
||||41018
|||95040
136058||||
|||||71555||||||
|3.||Cost of generating voluntary income||||||||
||||||Unrestricted2022||||2021|
|||||||funds Total Total||||
||||||£||£|||
|||Salaries & wages||||14010|||14010|
|12200||||||||||
|||Rates and water||||997|||997|
|1385||||||||||
|||Light & heat|6340|6340|||3758|||
|||Repairs and maintenance - Mosque and others||||10326|||10326|
|3750||||||||||
|||Insurance||||816|||816|
|879||||||||||
|||Travelling expenses||||2122|||2122|
|1154||||||||||
|||Accountancy fees|500|500|||350|||
|||Web expenses|335|335|||-|||
|||Janaza Payment||||3875|||3875|
|-||||||||||
|||Bank charges||||12|||12|
|-||||||||||
|||Telephone expenses|1077|1077||1285||||
|||Cleaning||||1244|||1244|
|944||||||||||
|||Events||||11520|||11520|
||||4770|||||||
|||Depreciation & impairment|4955|4955||4955||||
|||Donations|3690||3690 1263|||||
|||Sundry expenses||||23058
||23058||
|125
5||||||||||
|||||||84877
||84877
||
|37948||||||||||
4. Governance costs
Unrestricted 2022 2021 funds Total Total £ £ £
Interest - Commercial First
3214 3214
7404
Page 9
Nimab Welfare Trust (A company limited by guarantee)
## Notes to financial statements for the year ended 31 March 2022
## 5. Net (outgoing)/incoming resources for the year
|Net (outgoing)/incoming resources for the year|||
|---|---|---|
||2022|2021|
||£|£|
|Net (outgoing)/incoming resources are stated after charging:|||
|Depreciation and other amounts written of tangible fxed assets|4955|4955|
## 6. Employees
## Employment costs
No salaries or wages have been paid to employees, including the trustees, during the year.
## Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
||2022|2021|
|---|---|---|
||Number|Number|
|Management committee|14|14|
## 7. Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
Page 10
## Nimab Welfare Trust (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2022
|||Land and|Fixtures,||
|---|---|---|---|---|
|8.|Tangible fxed assets|buildings|fttings and||
|||freehold|equipment|Total|
|||£|£|£|
||Cost||||
||At 1 April 2022|247748|5641|253389|
||Additions|-|-|-|
||At 31 March 2021|247748|5641|253389|
||Depreciation||||
||At 1April 2021|69370|5641|75011|
||Charge for the year|4955|-|4955|
||At 31 March 2022|74325|5641|79966|
||Net book values||||
||At 31March 2022|173423|-|173423|
||At 31March 2021|178378|-|178378|
|9.|Debtors||||
||||2022|2021|
||||£|£|
||Other debtors||2300|2300|
|10.|Creditors: amounts falling due||||
||within one year||2022|2021|
||||£|£|
||Bank loan||14,208|14208|
||Accruals and deferred income||500|1250|
||||17303|15458|
||The bank loan is secured.||||
Page 11
## Nimab Welfare Trust (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2022
|11.|Creditors: amounts falling due|||
|---|---|---|---|
||after more than one year|2022|2021|
|||£|£|
||Bank loan|84657|93136|
||Loans|||
||Repayable in fve years or more|36945|78928|
||The bank loan is secured.|||
105922
|12.
Analysis of net assets between funds
Fund balances at 31 March 2022 as represented by:
Tangible fxed assets
Current assets
15545
Current liabilities
Long-term liabilities
13.
Summary of funds
Restricted Funds
41018
Unrestricted Funds
**(84877)**
**105922**|Unrestricted
Total
funds
funds
£
£
173423
208108
37673
(17303)
(19543)
(87871)
(182669)
21441
At
At
1 April Incoming Outgoing 31 March
2021
resources resources
2022
£
£
£
£
- 41018 -
57955
95040
(88091)
64904
**57955**
**136058**
|
|---|---|
## Purposes of unrestricted funds
Unrestricted funds are funds which can be used in accordance with the charity's objects at the discretion of the Trustees.
Page 12
Nimab Welfare Trust (A company limited by guarantee)
## Notes to financial statements for the year ended 31 March 2022
## 14. Company limited by guarantee
Nimab Welfare Trust is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 13