HUSAINI SUFI MEDITATION CIRCLE UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED
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31 MARCH 2021
REGISTERED CHARITY NUMBER 1117889
AAA Accounting Limited Chartered Certified Accountants 75 Heathland Way, Grays England RM16 2DF
HUSAINI SUFI MEDITATION CIRCLE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Members ofboards and professional advisors | 1 |
| Trustees annual report | 2-5 |
| Independent examiners report to the trustees | 6 |
| Statement offinancial activities | 7 |
| Balance sheet | 8 |
| Notestothefinancialstatements | 9 |
HUSAINI SUFI MEDITATION CIRCLE
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
| Registered charity name | Husaini Sufi Meditation Circle |
|---|---|
| Charity number | 1117889 |
| Registered Office | 26 The Furrows |
| Luton | |
| LU3 2LF | |
| Trustees | Mr Imran Shafiq Khan (Chair) |
| MrMuhammad Salman | |
| MsKhadijaSayyid |
| Independent | examiners | AAAAccounting Limited |
|---|---|---|
| Chartered Certified Accountants | ||
| 75 Heathland Way, Grays | ||
| England | ||
| RM162DF |
Bankers
National Westminster Bank
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HUSAINI SUFI MEDITATION CIRCLE
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page | of the financial statements.
THE TRUSTEES
The trustees who served during the period were as follows:
Dr. Tanvir Ahmad
Mr Syed Jaffar Shah Ms Halima Sadia Malik Mr Imran Shafiq Khan (Chair) Mr Muhammad Salman Ms Khadija Sayyid
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Husaini Sufi Meditation Circle is an unincorporated Trust, constituted under a trust deed dated 10 November 2006 and is a registered charity, number 1117889.
Method of appointment of Trustees and policies adopted for their induction
The basis of selecting new trustees is by way of identifying people who regularly attend events and functions organised by the Trust, show an interest in and volunteer to help out during these activities. These people are then invited to attend Trustees meetings as observers. They are then given more details of the Trust's aims and objectives. Upon satisfaction that these are in line with their ideology of charity work and after due consideration of the person's eligibility, personal competence, specialist knowledge and skills they are proposed as new trustees by the existing ones at the subsequent meeting where they are appointed by the current Board members.
Prior to their appointment, new trustees are introduced to the Charity's Policies. Charity procedures are covered, where they become aware of the scope of their responsibilities under the Charities Act. They are then attached to an existing trustee who they assist on the projects and activities run by the charity. After satisfactory feedback from existing trustees, they are appointed as board members and then given the task to deal with project/activity on their own and are regularly monitored through meetings.
Decision making
The trustees are legally responsible for the overall management and control of the Centre and meet more than 15 times a year. The Finance and General Purposes (building) members generally meet when required to consider the tasks delegated to them in respect of financial, building work or any specialist adviser report, which are then communicated to the other trustees at the main board meeting for their deliberations.
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HUSAINI SUFI MEDITATION CIRCLE TRUSTEES ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
Risk review
The management committee has conducted a review of the major risks, which the charity is exposed to and systems have been established to mitigate those risks. Significant external risks to funding have been reduced by the development ofa strategic plan, which will allow for development only when the funds are in hand or have been guaranteed. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects. These procedures are periodically reviewed to ensure that they still meet the needs of the charity. During the pandemic, we will be offering online events and any in - person attendance events will be organised with SOP's.
OBJECTIVES AND ACTIVITIES
The aims and objects of the charity are:
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To advance the Sufism of Islamic religion for the benefit of the public through the holding of prayer meetings, guided Sufi meditation sessions, lectures and seminars, producing or distributing literature on Islam to enlighten others about the Islamic religion.
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To advance the education of the public on the subject of Islamic Sufism and cultures.
These objectives will be achieved by raising funds through donations, a suitable property for charity has been purchased, which will incorporate other potential projects also.
PUBLIC BENEFIT STATEMENT
In setting out the objectives and planning the activities, the trustees have given careful consideration to complying with the duty in Section 4 of the Charities Act 2006 to have regard to the public benefit guidance published by the Charity Commission.
ACHIEVEMENTS AND PERFORMANCE
Through the kind guidance and mentorship of our spiritual leader, Shaykh Dr Sharif Alhusaini, we have offered the community with various activities and services such as enlightening lectures and seminars, books publication, meditation, cultural events marking important Islamic occasions as well as Ramadan and Eid services.
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HUSAINI SUFI MEDITATION CIRCLE TRUSTEES ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
The income is generated from donations collected from Muslim people and Muslim organisations. The incoming resources and resources expended are detailed in the Statement of Financial Activities. The financial year commenced with total cash and bank balances of £ 11,293. During the year donations of £74,359 were received. Resources expended in the year totalled £ 46,538. The cash & bank balance at year end is £ 29,326,
The Charity has paid £ 10,000 towards its Loan during the year. However, Trustees consider that more funds are required to pay off the loans.
PLANS FOR FUTURE PERIODS
We offer interested people a retreat venue where they can spend a relaxing time and guided retreats for the attainment of spiritual balance and for decreasing depression and anxiety. We also aim to offer suitable venues that function as retreats for youngsters and families, and for Muslims and non-Muslims. We will be organising Salawaat gatherings upon Prophet Muhammad Peace be Upon Him, Mawlid Sharif and other spiritual events at various locations in England and Wales. During the pandemic most events will be organised online. Moreover, we will increase the distribution of Sufi books. We hope to raise more funds to pay off loans and develop potential projects to further our aim and objectives.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial 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 these financial statements, the trustees are required to:
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’ Select suitable accounting policies and then apply them consistently;
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J Observe the methods and principles in the Charities SORP;
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: Make judgements and estimates that are reasonable and prudent;
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‘ State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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, Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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HUSAINI SUFI MEDITATION CIRCLE
TRUSTEES ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2021
INDEPENDENT EXAMINER
Bilal Ahmad FCCA of AAA Accounting Limited, Chartered Certified Accountants offers himself for reappointment as independent examiner in accordance with the Charities Act 1993, as amended by the Charities Act 2006.
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Signed on behalf of the trustees
26 The Furrows Luton LU3 2LF
Date: 24.12.2021
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HUSAINI SUFI MEDITATION CIRCLE
2,
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HUSAINI SUFI MEDITATION CIRCLE 4
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:
YEAR ENDED 31 MARCH 2021
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Lreport on the im of the charity for the year ended 31 March 2021 set out on pages 7 to 9.
RESPECTIVE JRESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for’ this year (under section 43(2) of the Charities Act 1993 (the 1993 Act), . as amended by,ren 28 of the Charities Act 2006) and that an independent examination is needed.
It is my respons(bility to: rt . examiig the accounis (under section 43(3) (a) of the 1993 Act, as amended); . to fale the procedures laid down in the General Directions given by the Charity Commission (under's ction 43(7)(b) of the 1993 Act, as amended); and : . to state ste 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 ofthe 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 consequ satly I do not express an audit opinion on whether the accounts present a ‘true and fair view’.
INDEPENDENT EXAMINER'S STATEMENT . . In connection with my examination, no matter has corne to my attention: . (1) which 'gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that: ° ia proper accounting records are kept (in accordance with section 41 of the Act); and ° | jaccounts ate prepared which agree with the accounting records and comply with the } | jaccounting requirements of the Act; or ; (2) to whi in my opinion, attention should be drawn in order to enable a proper understanding of the wine to be reached. B Ahmad FCCA , AAA Accountit g Limited - Chartered Certified Accountants i, 75 Heathland Way, Grays England |: | RMI162DF! | |
Date:.24,12.2021 hil i. | f : ; | | The notes on pages 9 form part of these financial statements
HUSAINI SUFI MEDITATION CIRCLE FOR THE YEAR ENDED 31 MARCH 2021
SUMMARY INCOME AND EXPENDITURE ACCOUNT
| Restricted | Unrestricted | 2021 | 2020 | |
|---|---|---|---|---|
| Notes | £ | £ | £ | £ |
| Incoming resources | ||||
| Charitable donations | - | 74,359 | 74,359 | 46,737 |
| Totalincome | - | 74.359 | 74,359 | 46.737 |
| Direct charitable expenditure (-) | ||||
| Depreciation | - | 211 | 211 | 282 |
| Equipment expensed Events-food Information and publications Insurance ; Light& Heat Rates |
- - - = - - |
756 295 - 805 5,216 2,319 |
756 295 - 805 5,216 2,319 |
1,056 506 2,710 1,576 2,356 2,439 |
| Refurbishment andmaintenance | - | 35,305 | 35,305 | 5,376 |
| Travel and tours | - | - | - | 593 |
| Vehicle expenses | - | 1,631 | 1,631 | 827 |
| Total expenditure | - | 46,538 | 46,538 | 17,722 |
| Netincoming resources/ | 27,821 | 27,821 | 29,016 | |
| (Expenditure) | ||||
| Funds brought forward | - | 311,247 | 311,247 | 282,232 |
| - | 339,069 | 339,069 | 311,247 | |
| Fundscarriedforward | - | 339,069 | 339,069 | 311,247 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities. The notes on pages 9 form part of these financial statements.
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HUSAINI SUFI MEDITATION CIRCLE BALANCE SHEET AS AT 31 MARCH 2021
| ; . |
Notes | £ | 2021 £ |
£ | 2020 £ |
|---|---|---|---|---|---|
| Fixed assets | |||||
| Tangible fixed assets | |||||
| FA- landandbuildings B/F | 357,008 | 357,008 | |||
| 357,008 | 357,008 | ||||
| FA—vehicles B/F | 2,004 | 2,004 | |||
| Depn—B/Fwd Depn-Charge |
(1,158) (211) |
(876) (282) |
|||
| 635 | 846 | - | |||
| 357,643 | 357,854 | ||||
| Current assets | |||||
| Other debtors | 3,100 | 3,100 | |||
| Cash atbank | 29,326 | 11,293 | |||
| 32.426 | 14,393 | ||||
| Creditors: | |||||
| Other loan | (51,000) | (61,000) | - | ||
| (51,000) | (61,000) | ||||
| Net current assets | 339,069 | 311,247 | |||
| Total assets lesscurrent liabilities | 339,069 | 311,247 | |||
| Net assets | 339,069 | 311,247 | |||
| Funds | |||||
| - Restricted | - | - | |||
| - Unrestricted | 311,247 | 282,232 | |||
| Net (Loss)/Profit | 27,821 | 29,016 | |||
| 339,069 | 311,247 |
These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
These financial statements were approved by the members of the committee on 24.12.2021 and are signed on their behalf by:
Mr Imran Shafiq Khan -Trustee
The notes on page 9 form part of these financial statements. 8
HUSAINI SUFI MEDITATION CIRCLE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting Policies
1.1. Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005) and the Charities Act 1993, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2 Incoming resources
Voluntary income and donations are included in incoming resources when they are received except when donor’s conditions have not been fulfilled, and then the income is deferred.
1.3 Resources expended
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.
1.4 Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.
1.5 Taxation
The charity is exempt from corporation tax on its charitable activities.
1.6 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.
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