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← Croydon Islamic Community Trust

2024-04-05-accounts

Registered Charity Number 1117911

Croydon Islamic Community Trust

For The Year Ended 05 April 2024

Report and Accounts

Croydon Islamic Community Trust Report and accounts Contents

Page
Charity information/ Trustees' Report 1
Independent Examiner's Report 4
Statement of Financial Activities 6
Balance sheet 9
Notes to the accounts 10
Detailed Statement of Financial Activities 14

Croydon Islamic Community Trust

The report of the trustees for the year ended 5 April 2024

Introduction

The trustees present their annual report and accounts for the year ended 05 April 2024.

The board of trustees are satisfied with the performance of the charity during the year and the position at 05 April 2024 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charities assets are adequate to fulfil its obligations.

Name, registered office and constitution of the charity

The full name of the charity is Croydon Islamic Community Trust.

The legal registration details are :-

Date of formation 09/02/2007 The Principal Office is 89 London Road, Croydon, CR0 2RF. Charity Registration Number 1117911 The telephone number is 02087600552

Objectives and Activities of the Charity

A summary of the objects of the charity as set out in its governing document.

Public benefit that is provided by the charity

We have steadily developed our Masjid, services and community support since 2009, and we continue to build on our well established foundations. The following information details the milestones of achievements CICT have attained over the period the years:

An explanation of the charity's main objectives for the year.

Structure, Governance and Management

Nature of the Governing Document and constitution of the charity

Declaration of Trust dated 31 October 2006

1

Croydon Islamic Community Trust

The report of the trustees for the year ended 5 April 2024

The methods adopted for the recruitment and appointment of new trustees

There must be at least three trustees. Apart from the first trustees, every trustee must be appointed by a resolution of the trustees passed at a special meeting called under clause 15 of the trust deed.

In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.

Financial Review

Transactions and Financial position

The trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities show net overall realised incoming resources of ( £ 20,432) (prior year £ 11,836 ).

Specific changes in fixed assets

No movement.

The members of the Board of Trustees of the Charity during the year ended 05 April 2024 were:-

The trustees are all members of the charity

2

Croydon Islamic Community Trust

The report of the trustees for the year ended 5 April 2024

The members of the Board of Trustees of the Charity at the date the report and accounts were approved were:-

Mr Tariq Rasul (Chairman) Mr Naveed Ayaaz Mr Ibrahim Badi Christopher McKenzie Richard Gadzekpo

Independent Examiner

Kunal Patel ACCA Midas Financials 20-22 Wenlock Road London N17 7GU

Statement of Trustees' Responsibilities

The Charities Act requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:-

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act. They 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.

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

This report was approved by the board of trustees on 09 March 2025.

Mr Tariq Rasul Trustee

3

Croydon Islamic Community Trust

Independent Examiner's Report to the trustees of the charity

Report of the Independent Examiner to the trustees

on the accounts of the Charity for the year ending 5 April 2024

I report on the financial statements of the Charity on pages 6 to 10 for the year ended 05 April 2024 which have been prepared in accordance with the Charities Act 2011 and with the Financial Reporting Standard for Smaller Entities (FRSSE), effective January 2017, adapted to meet the needs of unincorporated organisations, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective January 2015 (The SORP), under the historical cost convention and the accounting policies set out on page 11.

Respective responsibilities of trustees and examiner

The Charity's trustees are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-

a) examine the accounts under section 145 of the Act;

b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;

c) to state whether particular matters have come to my attention.

Basis of opinion and scope of work undertaken

I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.

The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters.

4

Independent Examiner's Statement, report and opinion

Subject to the limitations upon the scope of my work as detailed above, in connection with my examination, I can confirm that:-

this is a report in respect of an examination carried out under section 145 of the Act and in accordance with any directions given by the Commission under subsection (5)(b) of that section which are applicable;

and that, no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements

(i) to keep accounting records in accordance with section 130 of the Act;

(ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act and;

(iii) that the financial statements be prepared in accordance with the methods and principles set out in the Statement of Recommended Practice - Accounting and Reporting by Charities

have not been met; or

to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached;

The Examiner's relevant professional qualification or body: Association of Chartered Certified Accountants

Kunal Patel ACCA Midas Financials 20-22 Wenlock Road London N17 7GU

The date upon which my opinion is expressed is:-

09/03/2025

5

Croydon Islamic Community Trust Statement of Financial Activities

for the year ended 5 April 2024

Notes
Incoming resources
Incoming resources from generated funds
Voluntary Income
Activities for generating funds
Other Operating Income
Investment Income
Total incoming resources
Costs of generating funds
Costs of generating voluntary income
Costs of charitable activities
Grants made to institutions
Governance costs
Total resources expended
Net incoming resources
before transfers between funds
Gross transfers between funds
Net incoming resources before
Other recognised gains and losses
Other recognised gains and losses
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total Funds carried forward		 Unrestricted Restricted
Total
Last Year
Funds
Funds
Funds
Total Funds
2024
2024
2024
2023
£
£
£
£
190,234
-
190,234 147,525
42,546
-
42,546
37,975
-
-
-
-
52
-
52
6
232,832
-
232,832
185,507
101,318
- 101,318
66,915
110,132
- 110,132
104,856
-
-
-
-
950
-
950
1,900
20,432
-
20,432
11,836
20,432
-
20,432
11,836
-
-
-
-
20,432
-
20,432
11,836
20,432
-
20,432
11,836
1,049,009
1,519 1,070,960
1,050,528
1,069,441
1,519 1,070,960
1,050,528

The net movement in funds referred to above is the net incoming resources as defined in the SORP and is reconciled to the total funds as shown in the Balance Sheet as required by the SORP.

All activities derive from continuing operations

The notes on pages 11 to 14 form an integral part of these accounts.

6

Croydon Islamic Community Trust Statement of Financial Activities for the year ended 5 April 2024 Income and Expenditure Account for the year ended 5 April 2024

2024 2023
£ £
Donations & Government Grants 232,780 185,501
Direct costs 211,450 171,771
Gross surplus
 21,330 13,730
Governance costs 950 1,900
Interest receivable 52 6
Surplus on ordinary activities before tax
 20,432 11,836
Surplus for the financial year
 20,432 11,836
Gift Aid Payments - -
Retained surplus for the financial year
 20,432 11,836
All activities derive from continuing operations
The notes on pages 11 to 14 form an integral part of these accounts.

7

Croydon Islamic Community Trust Statement of Financial Activities for the year ended 5 April 2024

Statement of Total Recognised Gains and Losses for
the year ended 5 April 2024
Excess of Expenditure over income before realisation of assets
Profit per Profit and Loss account
Grants for the acquisition of fixed assets
Net Movement in funds before taxation		 2024
2023
20,432
11,836
20,432
11,836
-
-
20,432
11,836
Movements in revenue and capital funds
for the year ended 5 April 2024
Revenue accumulated funds
Accumulated funds brought forward
Recognised gains and losses before transfers
Closing revenue accumulated funds		 Unrestricted Restricted
Total
Last year
Funds
Funds
Funds
Total Funds
2024
2024
2024
2023
£
£
£
£
1,049,009
1,519
1,050,528
1,038,692
20,432
- 20,432
11,836
1,069,441
1,519
1,070,960
1,050,528
1,069,441
1,519
1,070,960
1,050,528
£ £
Summary of funds Designated Unrestricted Restricted Total Last Year
Funds Funds Funds Funds Total Funds
2024 2024 2024 2024 2023
Revenue accumulated funds - 1,069,441 1,519 1,070,960 1,050,528

8

Croydon Islamic Community Trust Balance Sheet as at 5 April 2024

Notes
The assets and liabilities of the charity:
Fixed assets
Land and Building
Accumulated Depreciation
Total fixed assets
Current assets
Cash at bank and in hand
Debtors
Creditors:-
amounts due within one year
Net current assets
Total assets less current liabilities
Creditors:-
amounts due after more than one year
10
Provisions for liabilities and charges
Net assets including pension asset / liability
The funds of the charity :
Unrestricted income funds
Unrestricted revenue accumulated funds
Designated revenue funds
Unrestricted capital funds
Designated fixed asset funds
Total unrestricted funds
Restricted income funds
Restricted revenue accumulated funds
Restricted capital funds
Total restricted funds
Total charity funds		 2024
£
850,000
(25,500)
824,500
246,460
(0.00)
246,460
1,070,960
(0)
1,070,960
1,069,441
-
-
1,069,441
1,519
1,519
1,070,960		 227,028
-
(1,000)		 2023
£
850,000
(25,500)
824,500
/

226,028
1,069,441
-
-
1,519		 1,049,009
-
-
1,519
1,050,528
(0)
1,050,528
1,049,009
1,519
1,050,528

Mr Tariq Rasul Trustee Approved by the board of trustees on 09 March 2025

9

Croydon Islamic Community Trust Notes to the Accounts

for the year ended 5 April 2024

Basis of preparation of the accounts

The accounts have been prepared on the accrual basis, under the historical cost convention, and in accordance with ‘the Financial Reporting Standard for Smaller Entities’ (effective January 2015) and ‘the FRSSE Statement of the Recommended Accounting Practice 2015’, (The SORP 2015), and in accordance with all applicable law in the charity’s jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRSSE SORP 2015 in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Following accounting policies in place prior to the SORP 2015

Under the SORP 2015, where there is no specific requirement to adopt a particular accounting requirement, a charity may follow their existing accounting policies provided that the policy and related disclosures made are consistent with accepted accounting practice. This charity has decided that the accounting polices set out below, which it followed prior to the SORP 2015, shall continue to be followed:-

Incoming Resources

Incoming resources are accounted for on a receivable basis.

Except as described under the 'Deferred Income' accounting policy all grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Recognition of liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles

Fixed assets and depreciation

All tangible fixed assets, except freehold land and buildings, are stated at cost less depreciation. Freehold land and buildings are stated at a valuation arrived at by a professionally qualified firm of valuers, who valued the assets on the basis of open market value in current use.

Items of less than £100 are not capitalised.

Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value) over their estimated useful economic lives.

Freehold land and buildings 1% straight line Vehicles 25% straight line Plant and machinery 25% straight line

10

Croydon Islamic Community Trust Notes to the Accounts for the year ended 5 April 2024

Taxation

As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

Funds structure policy

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully the monitor the application of those funds in accordance with the restrictions placed upon them.

A fixed asset fund is maintained which represents the written down value of tangible fixed assets, and is divided into a restricted fixed asset fund representing the written down value of those assets subject to restrictions, with the balance being in a designated fund representing the written down value of those assets free of restrictions. The detailed operation of these funds is described under the accounting policy ' Capital grants'

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above.

Any other proposed transfer between funds would be considered on the particular circumstances.

2 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

2024 2023
Revenue Turnover from ordinary activities 232,832 185,507
and after charging:-
Depreciation of owned fixed assets - -
Rent Payable - -
Independent Examiner's Fees 950 1,900

11

Croydon Islamic Community Trust Notes to the Accounts

for the year ended 5 April 2024

No expenses were paid to trustees or persons connected with them.

4 Material legacies that have been notified but not included in the Statement of Financial Activities

N/A
5 Investment Income 2024 2023
£ £
Other bank deposit interest received 52 6

An analysis of grants by activity (TABLE 6) is included in the detailed schedule to the Statement of Financial Activities and should be cross referred in this text. There is also an analysis by institution which should be cross referred

7 Staff Costs and Emoluments
Gross Salaries
Employer's National Insurance
Numbers of full time employees or full time equivalents
Engaged on charitable activities		 2024
£
44,141
-
44,141
2024
4		 2023
£
42,649
-
42,649
2023
4

There were no fees or other remuneration paid to the trustees

There were no employees with emoluments in excess of £60,000 per annum

12

Croydon Islamic Community Trust Notes to the Accounts

for the year ended 5 April 2024

8 Trustees' Remuneration

Neither the trustees nor any persons connected with them have received any remuneration, either in the current year or the prior year.

9 Ex Gratia Payments

None

10 Creditors :- Amounts Falling due after one year
Long term Loans (Qarde Hasna)
11 Analysis of the Net Movement in Funds
Analysis of movements in funds as shown in the table above
Incoming
Outgoing
Resources
Resources
£
£
232,832
212,400		 2024
£
0
2024
Gains &
Losses
£
20,432		 2023
£
0
2023
Movement
in funds
£
11,836

13

Croydon Islamic Community Trust

Schedule to the Statement of Financial Activities for the year ended 5 April 2024

Status of this schedule to the Statement of Financial Activities

The schedules on the following pages are required by the Recommended Practice for Accounting and Reporting issued by Wales, effective April 2005 and revised in June 2008.

disclosure requirements of the Statement of the Charity Commissioners for England &

As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.

Incoming Resources
Incoming Resources from generated funds
Voluntary Income
Government and public bodies
Incoming resources of a revenue nature
Gift Aid
Total
Total Grants,Legacies & Donations Received
Total Voluntary Income
Activities for generating funds
Sales other than for the benefit of beneficiaries
Madressah Income
Bookshop Income
Total of activities for generating funds
Investment Income
Other bank deposit interest received
Total Investment Income
Total Incoming Resources
Costs of generating funds
Support costs for generating voluntary income
Quran Madressah-Support Staff Costs
Bookshop-Support Staff Costs
Total costs of generating voluntary income
Charitable expenditure
Costs of activities in furtherance of the charity's objectives
Cost of goods for primary purpose trading		 Unrestricted Restricted
Total
Prior Period
Funds
Funds
Funds
Total Funds
2024
2024
2024
2023
£
£
£
£
190,234
190,234
147,525
-
-
-
-
-
-
190,234
-
190,234
147,525
190,234
-
190,234
147,525
190,234
-
190,234
147,525
-
-
-
-
42,546
-
42,546
37,976
0
-
0
0
232,780
-
232,780
185,501
52
-
52
6
52
-
52
6
232,832
-
232,832
185,507
101,318
- 101,318
66,915
0
-
0
0
101,318
-
101,318
66,915
101,318
-
101,318
66,915
5,759
-
5,759
7,486
5,759
-
5,759
7,486

14

Croydon Islamic Community Trust Schedule to the Statement of Financial Activities for the year ended 5 April 2024

Status of this schedule to the Statement of Financial Activities

The schedules on the following pages are required by the Recommended Practice for Accounting and Reporting issued Wales, effective April 2005 and revised in June 2008.

disclosure requirements of the Statement of by the Charity Commissioners for England &

As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.

Support costs of charitable activities
Direct support costs
Management and administration costs
in support of charitable activities
Staff costs in support of charitable activities
Salaries - Administrative staff
Employers' NI - Administrative staff
Indirect employee costs
Travel and subsistence
Premises Costs
Repairs Cost
Rates, water and service charges
Insurance
Light and heat
General administrative expenses:
Telephone and fax
Stationery and printing
Bank charges
Sundry expenses
Professional fees in support of charitable activities
Consultancy fees
Other support costs
Depreciation of assets used for charitable purposes
Total Support costs		 Unrestricted Restricted
Total
Prior Period
Funds
Funds
Funds
Total Funds
2024
2024
2024
2023
£
£
£
£
44,141
-
44,141
42,649
-
-
-
-
44,141
-
44,141
42,649
-
-
-
-
-
-
-
-
-
-
-
-
8,333
-
8,333
3,519
2,117
-
2,117
1,907
10,542
-
10,542
4,787
20,992
-
20,992
10,213
519
-
519
452
-
-
-
-
-
-
-
-
350
-
350
354
869
-
869
806
38,370
-
38,370
43,702
38,370
-
38,370
43,702
-
-
-
-
-
-
-
-
104,372
-
104,372
97,370

Support costs for grants paid

15

Croydon Islamic Community Trust

Schedule to the Statement of Financial Activities for the year ended 5 April 2024

Status of this schedule to the Statement of Financial Activities

The schedules on the following pages are required by the Recommended Practice for Accounting and Reporting issued Wales, effective April 2005 and revised in June 2008.

disclosure requirements of the Statement of by the Charity Commissioners for England &

As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.

Unrestricted Restricted Unrestricted Restricted Total Prior Period
Funds Funds Funds Total Funds
2024 2024 2024 2023
£ £ £ £
Total Expended on Charitable Activities 110,132 - 110,132 104,856
Governance costs that are not direct management functions inherent in generating funds,
service delivery and programme or project work
Specific governance costs
Independent Examiner's Fees 950 - 950 1,900
Total governance costs 950 - 950 1,900
A Detailed schedule of grants paid to achieve the objects of the charity
2024 2024
£ £
Grants to Institutions
- - - -

16