2023-03-31-accounts - Husaini Sufi Meditation Circle

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HUSAINI SUFI MEDITATION CIRCLE UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2023

REGISTERED CHARITY NUMBER 1117889

AAA Accounting Limited Chartered Certified Accountants Jhumat House, 160 London Road Barking, England IG11 8BB

HUSAINI SUFI MEDITATION CIRCLE

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

	*Page*
Members of boards and professional advisors	1
Trustees annual report	2-5
Independent examiners report to the trustees	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	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)
	Mr Mahmood Awan
	Mr Muhammad Salman
	Ms Khadija Sayyid
Independent examiners	AAA Accounting Limited
	Chartered Certified Accountants
	Jhumat House, 160 London Road
	Barking, England
	IG11 8BB
Bankers	National Westminster Bank

HUSAINI SUFI MEDITATION CIRCLE

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

THE TRUSTEES

The trustees who served during the period were as follows:

Mr Imran Shafiq Khan (Chair) Mr Mahmood Awan 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. 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.

HUSAINI SUFI MEDITATION CIRCLE

TRUSTEES ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2023

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 of a 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:

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.
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.

HUSAINI SUFI MEDITATION CIRCLE

TRUSTEES ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2023

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 £ 17,451. During the year donations of £ 51,072 were received. Resources expended in the year totalled £ 34,774. The cash & bank balance at year end is £ 33,749.

The Charity has paid nothing 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. 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:

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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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.

HUSAINI SUFI MEDITATION CIRCLE I'RUSTELS ANNUAL PORT continued FOR THE YEAR ENDED 31 MARCH 2023 INDEPENDENT EXAMINER Bilal Ahmad FCCA of AAA A¢courtlin8 LimiteiL Chart¢red Ccrtifitd A¢¢ounlattts offers himself for re- appointment independent examincr in aceordance with the Charities Act 1993, as amended bythe Charities Act 2(K>6. Signed on bchalf of thc IN8tces 26 Th¢ Furrows Luton LU3 2LF Mr Imrhn Shafiq an D41e'. 09.01.2024 TTU51ee

TATI IR INDF.PF.NDF.NT F.XAMINF.R'S RF.PORTTO THE T YF.AR F.IYDF.n 31 MARCH 2D23 l rep on ih¢ •¢wiDts orth¢ charity for the year ended JI Marth ?JJ?J sd paots 7 kn 9. RE%PECTIVE RFSPONSIBII.ITIES OF TRIISTLES AND INDF.PF.NDE7 EXAIIIIF.R The thariry's Irusiees are re5P)n5ible forihe PParall0ft ofthe acco1$. Th¢ ¢h3r115 Irusttts o)n51dcr Ihai an atyjii is noi requirtd r(Y thi5 year lder section 431?) Chariiies A¢t 1993 {Iht 1993 Aet as amended by setti(ffi 18 ofih¢ Chariiies Aci 2006) awt that an indcFn&ni examinioll is needed. li is my rtsponsibiliry10.' examine the aceounis IwKkr 5ediott 43(3)(a) of the IW3 ACL as lo follow the procedw¢s laid th)wn in the Genernl Dirtdion$ giv by Chity C4>mthxsSi(•) ltsnd¢r section 4317Xb) ofthe 1993 Arf. as amended>: and 10 51ak wheiher parlicular maiieys have to ]ny aueNion. BASIS OF INDEPEP4DENT EXAIIINER'S StATENIENr NIY examinaiion wa5 carried tyjt irt a¢eordan¢¢ wilh iht G¢neral Dire¢ti(w given by the CommissLOtL An txamLnaiion inclu(k5 a review of the Xco118 records by the charity Thl ¢omparison Df the awounls prcsented ith tIM record5. 118150 include5 considernu of any il¢ms or disclosures in th¢ accoun15. and seekin8 expl3naliots from as concenung an) sh alTS. The wo¢eduTCS undertsken do Mt pIDde all the cvxlence thai would bc rrquirnl in an INDEPEPqDENf EXMIIINER'S 5[ATEIE tTh conneaion with my txamw1i( Th) maller h5 cme my •rteti1iL (l) which gLve5 mc r¢asonabl¢¢aw io belie iti anym¢[1 the uuse5 Iwr the requirements ts ¢nsw¢ thaL prow actouniin8 arr ke0 (in 5Cftu)n 41 of tt Dd actounls are pr¢pJr¢d whilh •gree tht twply the a¢rounlinB wiiiremtnt5 ofthe Ad: OT {?) iu my <yinitNL alltrttion SIld be ID (der enable • proptr Urden8 of the luniS io be Ahmad FCCA AAA Aeeo#415•i Umlted Cb•rltrtd Ctrtlfied.Ittountints Jhumll Iloust. 1611 RMd Arklnl. F.niland IG118BB Tb¢ noios part oftkese st*tt•e•ts Scanned with Camscanner

HUSAINI SUFI MEDITATION CIRCLE FOR THE YEAR ENDED 31 MARCH 2023

SUMMARY INCOME AND EXPENDITURE ACCOUNT

Restricted Unrestricted Notes £ £ Incoming resources Charitable donations - 51,072 _ Total income - 51,072 Direct charitable expenditure (-) Depreciation - 1,122 Equipment expensed - 811 Postage - - Insurance - 918 Light & Heat - 5,556 Rates - 2,400 Refurbishment and maintenance - 23,492 Sundry 431 Travel and tours - - Vehicle expenses - 1,166 _ Total expenditure - 35,896 Net incoming resources/ 15,176 (Expenditure) Funds brought forward - 331,051 _ _ - 346,227 ____ Funds carried forward - 346,227 ===== ======	2023 £ 51,072 __ 51,072 1,122 811 - 918 5,556 2,400 23,492 431 - 1,166 _ 35,896 __ 15,176 331,051 __ 346,227 ___ 346,227 ======	2022 £ 44,024 __ 44,024 1,496 11,652 80 841 4,032 2,324 28,334 - 282 3,001 *52,042* __ (8,018) 339,069 _ 331,051 _ 331,051 =======

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.

HUSAINI SUFI MEDITATION CIRCLE BALANCE SHEET AS AI, 31 MARCH 2023 2023 2022 Notes Fixed assets Tanglble flxed assets FA - land and buildings BIF 357 008 357.008 357 008 357,008 FA- vehicles BIF Cost- Additions Depn- Bifwd Depn-charge 7,357 5.353 (1,369) (2,865) 3,370 4,492 360 378 361500 Current assets Other debtors Cash ul bank 3.100 3,100 Credltors: Other loan (51,000) (51,000) Net current assets 346.227 331.051 Total Asset$ 1¢$$ current IIAbllltle$ 346,227 331,051 Net assets 346,227 331,051 Fund8 Reslricted UnrestriLled Net (Loss)IProflt 331,051 15,176 339,069 (8.018) 346,227 331,051 These financial statements have been prepared in aCLordance with the Financial Reporting Standard for Smaller Entities (effective April 2(K)8). These financial statements w¢r¢ approved by the members of th¢ ¢ommille¢ on 09.01.24 and are signed on their behalf by.. Mr Imrn Shflq KhAn- Trstre The notes on pge 9 form part of these finnci*l JtAtement8.

HUSAINI SUFI MEDITATION CIRCLE

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

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.