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2022-03-31-accounts

Sri Lankan Muslim Community Foundation of Milton Keynes

Sri Lankan Muslim Community Foundation of Milton Keynes

(Islamic Centre Milton Keynes) Charity Number:-1120439

Annual Report and Unaudited Financial Statements for the Year Ended 31 March 2022

1

Sri Lankan Muslim Community Foundation of Milton Keynes

Index

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Page
Charity information 3
Trustees’ Report 4-8
Statement of Trustees’ responsibilities 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Statement of Financial Position 12
Notes to the Financial Statements 13-21
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Sri Lankan Muslim Community Foundation of Milton Keynes

Reference and administrative information

Contact Details and Business Information

Contact Address:

21 Fishermead Boulevard Fishermead Milton Keynes Buckinghamshire Milton Keynes MK6 2AQ

Telephone: 0044(0)1908698434 0044(0)7974151895 0044(0)7939042907 0044(0)7518340328

Emails: slmcfmk@hotmail.co.uk info@slmcfmk.co.uk

Bankers:

HSBC Bank Plc 406 Silbury Boulevard Saxon Gate West Milton Keynes Bucks MK9 2ND

Independent Examiner Fasahat Khan FCCA 135C The Broadway Southall Middlesex. UB1 1LW

3

Sri Lankan Muslim Community Foundation of Milton Keynes

Trustees’ Report For the year ended 31 March 2022

Charity Name:

Sri Lankan Muslim Community Foundation of Milton Keynes

Other Names the charity is known by: Islamic Centre Milton Keynes

Registered Charity Number:

1120439

Charity’s principal address:

No.21 Fishermead
Boulevard		 Fishermead Milton Keynes MK6 2AQ.

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Name of the charity trustees who manage the charity
Thajudeen N Lebbe B.Com (Hons) ABE (UK) (President)
Shameel Mohamed Aliyar ACMA CGMA, CPA (Secretary)
Thajudeen Mohamed Mohideen
Mohideen Bawa Mohamed Buhary (Treasurer)
Jasfer lshaq Mohamed
Abdul Wahid Abdul Hameed
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4

Sri Lankan Muslim Community Foundation of Milton Keynes

Trustees’ Report For the year ended 31 March 2022

The Trustees present their report along with the accounts of the Charity for the year ended 31 March 2022. The accounts have been prepared under the historical cost convention, in accordance with the accounting policies set out on page 14 and comply with the Charity’s Trust Deed, The Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Structure, Governance and Management

The Charity –Sri Lankan Muslim Community Foundation of Milton Keynes (SLMCF-MK) is registered by the Charity Commission, number 1120439, registered 3 August 2007.

The Trustees keep the skill requirements of the Board of Trustees under review and in the event that a Trustee permanently retires or additional new Trustees are required, a sub - committee is set up to make recommendations for appointments. Trustees are selected by approach to particular good and skilled people. Once agreed, new Trustees are appointed under the constitution, within general meetings.

Administration

The Charity has governing board of 6 trustees, all of whom are volunteers, and utilises the services of up to 10 volunteers at any one time on a regular basis.

Volunteers are crucial to the operation of the charity as all of the trustees are volunteers. Parents and guardians of children using the facility are encouraged to participate as volunteers in any and all aspects of the charity’s activities.

The charity benefits, as always, from the generous contribution of time and commitment from volunteers who are highly trained to ensure a professional service is delivered.

The trustees wish to express its thanks and appreciation to all members and volunteers, and their friends and family, who have contributed and worked tirelessly, giving their commitment and time in developing and delivering the services to the community. The trustees are also grateful to all the funders/donors, whose generosity has enabled the charity to deliver the core services and specialist projects.

The charity has been supported by grant from the Community Foundation of Milton Keynes to achieve its main and supplementary objects.

Administration (cont’d)

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Sri Lankan Muslim Community Foundation of Milton Keynes

Trustee meetings attended by all Trustees are held at least 12 times a year. At these meetings that were conducted according to COVID-19 regulations, the Trustees agree the broad strategy and areas of activities of the Charity, including grant, fund raising, use of funds and risk management policies and performance.

Objectives and activities for the public benefit

The Charitable Purposes of the Charity are:

In planning activities for the year, we keep in mind the Charity Commission’s guidance on public benefit at our Trustee meetings.

Summary of achievements and performance

The main achievements of the charity during the year were as follows:

Summary of achievements and performance (cont’d)

6

Sri Lankan Muslim Community Foundation of Milton Keynes

The community centre acts as centre of the community where people can gather and socialise as well learn Islamic education and worship. Congregation are performed five times a day every single day of the year. The attendees of the centre come from various backgrounds, cultures and ethnicities. They are all welcome and everyone is treated equally.

The Charity regards safeguarding and safe working practices as the highest priority. Every child has the right to be safe and to be cared for in a way that ensures their safety and individual needs. Robust systems are in place including vetting of all staff and volunteers working with children and vulnerable adults prior to undertaking any work within the organisation.

Dharul Ilm – Weekend Madrassa

We continue to run successfully Dharul Ilm weekend Madrassa in our community centre for the age group from 5 years to 15 years, teaching Tajweed & Quran, Hifz programme and Islamic studies. The Madrassa was discontinued from 16/03/2020 due to the government announcement to stop non-essential contact and travels. Approximately after 6 months, the Madrassa had started again but on online.

The Madrassa starts from 9.00am till 2.00pm every Saturday and Sunday. There are 150 children of different age group are studying at the Madrassa. We have appointed 10 qualified Aalims and Aalimas to teach the children.

The Trustees continue to maintain a close dialogue with Sri Lankan Muslim Community Foundation of Milton Keynes. No Trustees hold any executive position in the Charity.

Financial Review and Reserves Policy

The Board of trustees focused on ensuring that all finances were being handled in a proper manner with the full transparency and ensured that robust financial controls in place.

As the Covid restriction were started to lift, we experienced a resurgence of mussailians eager to pray at the community centre which resulted in increase in donation especially Friday Donations.

The Charity needs reserves to ensure that it can fulfil and complete the charitable obligations it enters into in respect of each of its three funds.

The restricted funds are funds which relates solely to the building of a Cultural Centre/Community Centre in Fishermead Milton Keynes which are fully expandable in accordance with the conditions laid by the donors and granting organisations to Community Centre. The Trustees regularly monitor the balance on the restricted funds to ensure there will always be sufficient reserves to meet the Charity’s commitments to building a Community Centre.

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Sri Lankan Muslim Community Foundation of Milton Keynes

The endowment funds which are general funds are which are expandable at the discretion of the Trustees. However; the present intention of the Trustees is to keep the endowment funds intact. Investment income from the endowment is credited to unrestricted funds to which the corresponding grant expenditure is charged.

Financial Review and Reserves Policy (cont’d)

The unrestricted funds are general funds which are fully expandable. The Trustees regularly monitor the balance on unrestricted funds to ensure that there will be always be sufficient reserve to meet the Charity’s general grant and other commitments. At the end of the financial year the level of reserves stood at £ 1,144,115.

The Charity continues to rely on, manage and monitor term loans kindly made by those interested in the Foundation.

Investment Policy

In accordance with the Charity’s Deed, The Trustees have the power to invest in such, cash quoted stocks, shares investment property as they see fit.

Financial Controls

The Charity has maintained detailed financial procedures for the initiation, administration and control of supported projects. More recently, the Charity’s Treasurer has the overall responsibilities of the accounts.

Risk Management

The trustees identify the major risks to which the charity is exposed each financial year when preparing and updating a strategic plan, in particular those related to the operations and finances of the charity.

Covid-19 Pandemic, we maintain a Covid response committee. We review our Covid measures in place and mitigation plans in line with UK government Covid 19 measures.

In accordance with current best practice, the trustees have continued to regularly review the actual and potential risk which affect the operations and administration of the Charity and are satisfied with the procedures and other safeguards.

Specific alternative that may then be appended include:

The charity is open to the usual financial risks of any organisation, and the charity has introduced control to minimise these risks, such as minimum two signatories being required for the payment of £250.00 from the bank and minimum of three signatories being required for the payment above £250.00 from the bank account. In addition, the accounts are regularly explained to members of the charity and are open for members’ inspection at any time.

8

Sri Lankan Muslim Community Foundation of Milton Keynes

Funds held as custodian trustee

There are no funds held as custodian trustee.

Statement of Trustees’ Responsibilities

Trustees’ Responsibilities in Relation to the Financial Statements

The Charity Trustees are responsible for preparing a Trustee’s Annual Report and 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 Charity Trustees to prepare financial statements for each 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 the financial statements, the Trustees are required to:

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 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. 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’ report has been approved by the Trustees on 29 January 2023 and on their behalf by:

Thajudeen N Lebbe – Signed on 29/01/2023

Trustee and Chair Person

9

Independent Examiner's Report to the Trustees of Sri Lankan Muslim Community Foundation of Milton Keynes

Year ended 31 March 2022

I report to the trustees on my examination of the financial statements of Sri Lankan Muslim Community Foundation of Milton Keynes for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent examiner's statement

I have completed my examination in accordance with the general directions given by the Charity Commission and in line with our engagement letter. The examination procedure undertaken relies on the accounting records and explanations provided by the trustees on such matters and is not based on all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts presents a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………………………….

Fasahat Khan

MFK Accountants Ltd Dated: 30 January 2023 Fellow of Chartered Certified Accountants 135C The Broadway. Southall Middlesex. UB1 1LW

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Sri Lankan Muslim Community Foundation of Milton Keynes

Statement of Financial Acitivities Year Ended 31 March 2022

Notes
Income and Endowments
Donations and Legacies
4
Other Activities
5
Total Income
Expenditure
Expenditure on raising funds:
Cost of raising donations and legacies
6
Expenditure on charitable activities
7
Total Expenditure
Governance Cost
8
Net Income and Net Movement in Funds
Reconciliation of Funds
Total funds brought forward
17
Total Funds carried forward		 Amounts in GBP (£) 000's
31-Mar-22
31-Mar-21
Unrestricted
Funds
Restricted
Funds
Total Funds
Total Funds
65,770
0
65,770
16,263
0
0
27,000
65,770
0
65,770
43,263
2,153
0
2,153
1,575
48,357
33,632
81,989
73,050
50,510
33,632
84,142
74,625
950
0
950
2,690
14,310
-33,632
-19,322
-34,052
53,597
1,109,839
1,163,437
1,197,489
67,907
1,076,207
1,144,115
1,163,437

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Sri Lankan Muslim Community Foundation of Milton Keynes

Statement of Financial Position Year Ended 31 March 2022

Note
Non-Current Assests
Tangible fixed assets
12
Leasehold Land / Prepayments
13
Current Assets
Debtors
14
Cash at bank and in hand
15
Creditors: falling due within one year
16
Net Current Assets
Total Assets less Current Liabilities
Funds of the Charity
Restricted funds
Unrestricted funds
Total Charity funds
17		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
1,385,191
1,428,792
85,274
86,016
1,470,465
1,514,808
2,609
2,609
15,237
15,485
17,846
18,094
344,196
369,465
-326,350
-351,371
1,144,115
1,163,437
1,076,207
1,109,839
67,907
53,597
1,144,115
1,163,437

These financial statements were approved by the trustees and authorised for issue on 29 January 2023 and signed on their behalf by:

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............................................ ............................................ ............................................ ............................................
Mr. Thajudeen Lebbe Mr. Shameel Aliyar Mr. Mohideen B M Buhary Mr. Abdul W A Hameed
Member Member Member Member
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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

1 General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 21, Fishermead Boulevard. Fishermead. Milton Keyenes. MK6 2AQ

2 Statement of Compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. This is a Public Benefit Entity as defined by FRS 102

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

Costs are fully analysed within the SOFA, and split between support costs and governance costs. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Building improvements - straight line basis over 35 years
Fixtures & Fittings - straight line basis over 5 years
Equipment - straight line basis over 5 years

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

Lease of Land

For the construction of the building of Islamic Centre Milton Keynes, a 125 year lease of land for 15,000 sqft at Fishermead Boulevard, Fishermead, Milton Keynes, MK6 2LA, was acquired from MK Community Properties Limited, 381 Midsummer Blvd. Milton Keynes, MK9 3HP, on3 September 2013 for an amount of £87,500. The amount was in September 2013. This lease of land in line FRS102 has been recognised as an operating lease and the cost of the lease will be expensed over the remaining lease term on a straight line basis, which seems to be the appropriate systematic basis and is representative of the time pattern of the lessee's benfit from the use of the land. The lease of the land is up to the year 2138, therefore an expense of £ 742 would be recorded each remaining 116 years to the year 2138. At the end of the lease term, the right to buy back the land is not available, however right to extend the lease will be subject to negotiations.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

The Charity is exempted from taxation on income and capital gains.

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

Donation and Legacies
Donation and Legacies - Unrestricted funds
Donations and collections
Subscriptions from Members & Non Members
Friday Donations
Total Donation and Legacies - Unrestricted funds
Donation and Legacies - Restricted funds
Donations - Mosque Construction - Restricted
Total Donation and Legacies - Restricted funds
Total Donation and Legacies
Other Activities
Other Activities - Unrestricted funds
Dharul Ilm - Parents Contributions
Other Income
Grant - Covid 19
Total Other Activities - Unrestricted funds
Other Activities - Restricted funds
Total Other Activities - Restricted funds
Total Other Activities		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
30,386
9,768
3,499
3,752
31,885
2,743
65,770
16,263
0
0
0
0
65,770
16,263
31-Mar-2022
31-Mar-2021
0
0
0
0
0
27,000
0
27,000
0
0
0
0
0
27,000

4 Donation and Legacies

5 Other Activities

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

6
Cost of Raising Donantions and Leagacies
Cost of Raising Donantions and Leagacies - Unrestricted funds
Fund Raising Volunteer's Expenses
Fund Raising Expenses
Total Cost of Raising Donantions and Leagacies - Unrestricted funds
Cost of Raising Donantions and Leagacies - Restricted funds
Donations - other cost
Total Cost of Raising Donantions and Leagacies - Restricted funds
Total Cost of Raising Donantions and Leagacies
7
Expenditure on Charitable Activities by Fund Type
Expenditure on Charitable Activities by Fund Type - Unrestricted funds
Expenditure - Unrestricted Funds
Total Expenditure on Charitable Activities by Fund Type - Unrestricted funds
Expenditure on Charitable Activities by Fund Type - Restricted funds
Expenditure - Restricted Funds
Total Expenditure on Charitable Activities by Fund Type - Restricted funds
Total Expenditure on Charitable Activities by Fund Type
8
Governance Cost
Governance Cost - Unrestricted funds
Expenditure - Unrestricted Funds
Total Governance Cost - Unrestricted funds
Total Governance Cost - Restricted funds
Total Governance Cost		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
0
0
2,153
1,575
2,153
1,575
0
0
0
0
2,153
1,575
31-Mar-2022
31-Mar-2021
48,357
39,419
48,357
39,419
33,632
33,632
33,632
33,632
81,989
73,050
31-Mar-2022
31-Mar-2021
950
2,690
950
2,690
0
0
950
2,690

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

9
Net Income
Net Income is stated after charging / (crediting):
Depreciation of tangible fixed assets
Total Net Income
10
Staff Costs
Madrassa Teacher's Payments - SLMCFMK
Salary / Wages
Madrassa Teacher's Payments
Total Staff Costs
Average head-count of employees / sub-contractors during the year		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
43,601
44,418
-19,322
-34,052
31-Mar-2022
31-Mar-2021
0
0
13,933
9,496
0
0
13,933
9,496
2
2

During the year, no employee received employee benefits of more than £60,000

11 Trustee Remuneration and Expenses

During the year under review, the Charity remained under the control of Trustees and Management Committee members as listed on page 1. None of the trustee or management committee member were remunerated or paid any expenses.

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

12
Tangible Fixed Assets
Buildings - Unrestricted
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Buildings - Unrestricted at the end of the period
Buildings - Restricted
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Buildings - Restricted at the end of the period
Buildings - Total
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Buildings - Total at the end of the period
Equipment
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Equipment at the end of the period
Total Assets
Cost at the start of the period
Additions during the period
Deletions / disposals during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Deletion / Disposals for the year
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Total Assets at the end of the period		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
337,950
337,950
0
0
337,950
337,950
19,311
9,655
9,656
9,656
28,967
19,311
308,983
318,639
1,177,103
1,177,103
0
0
1,177,103
1,177,103
67,264
33,632
33,632
33,632
100,896
67,264
1,076,207
1,109,839
1,515,053
1,515,053
0
0
1,515,053
1,515,053
86,574
43,287
43,288
43,287
129,862
86,574
1,385,191
1,428,479
5,656
5,656
0
0
5,656
5,656
5,343
4,212
313
1,131
5,656
5,343
0
313
1,520,709
1,520,709
0
0
0
0
1,520,709
1,520,709
91,917
47,499
0
0
43,601
44,418
135,518
91,917
1,385,191
1,428,792

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

13 Leasehold Land / Prepayments

Leasehold Land / Prepayments
Leasehold Land
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Lease Payment Expensed / Amortised at the start of the period
Lease Payment Expensed / Amortised in the year
Total Lease Payments Expensed at the end of the period
Net carrying amount of Leasehold Land at the end of the period		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
87,500
87,500
0
0
87,500
87,500
1,484
742
742
742
2,226
1,484
85,274
86,016

14 Debtors

Other Debtors
Cash & Cash Equivalents
Cash and cash equivalents comprise of the following:
Cash in hand
Cash at Bank
Bank overdrafts
Total Cash & Cash Equivalents at the end of the period
Creditors: amounts falling due with in one year
Ceditors falling due with in a year comprise of the following:
Bank loans, loans and overdrafts
Short-term Loan from Community
Other creditors
Total Creditors: amounts falling due with in one year at the end of the period		 31-Mar-2022
2,609
31-Mar-2022
1,809
13,428
0
15,237
31-Mar-2022
0
344,196
0
344,196		 31-Mar-2021
2,609
31-Mar-2021
331
15,154
0
15,485
31-Mar-2021
0
369,465
0
369,465

15 Cash & Cash Equivalents

16 Creditors: amounts falling due with in one year

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Sri Lankan Muslim Community Foundation of Milton Keynes

Notes to the Finanancial Statements (continued) Year Ended 31 March 2022

17
Analysis of Charitable Funds
General Charitable funds - Unrestricted
At the start of the period
Income during the period
Expenditure during the period
Others
Total General Charitable funds - Unrestricted at the end of the period
Restricted Funds
At the start of the period
Income during the period
Expenditure during the period
Gains & (losses)
Total Restricted Funds at the end of the period
Total Funds at the end of the period		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
53,597
54,018
65,770
43,263
-51,460
-43,684
0
0
67,907
53,597
1,109,839
1,143,471
0
0
-33,632
-33,632
0
0
1,076,207
1,109,839
1,144,115
1,163,437
18
Analysis of Net Assets Between Funds
Net Assets - Unrestricted
Tangible Fixed Assets
Leasehold Land / Prepayments
Net Current Assets
Total Net Assets - Unrestricted at the end of the period
Net Assets - Restricted
Tangible Fixed Assets
Leasehold Land / Prepayments
Current Fixed Assets
Total Net Assets - Restricted at the end of the period
Total Net Assets
Tangible Fixed Assets
Leasehold Land / Prepayments
Current Fixed Assets
Total Net Assets at the end of the period		 31-Mar-2022
308,984
85,274
-326,350
67,908
1,076,207
0
0
1,076,207
1,385,191
85,274
-326,350
1,144,115		 31-Mar-2021
318,952
86,016
-351,371
53,597
1,109,839
0
0
1,109,839
1,428,792
86,016
-351,371
1,163,437

19 Related parties

During the year the Charity was under the control of Trustees and Management Committee members as listed on page 4. None of the trustee or management committee member were remunerated or paid any expenses. However, they used the facilities offered by the Charity for performance of their religious duties like other members of the Muslim community.

-22-

Sri Lankan Muslim Community Foundation of Milton Keynes

Management Information Year Ended 31 March 2022

The following pages do not form part of the financial stataments

-23-

Sri Lankan Muslim Community Foundation of Milton Keynes

Management Information Year Ended 31 March 2022

Income and Endowments
Donation and Legacies
Donations & collections
Donations - Mosque Construction - Restricted
Subscriptions - Members & Non Members
Friday Donations
Total Donation and Legacies
Other Activities
Dharul Ilm - Parents Contributions
Other Income
Grant - Covid 19
Total Other Activities
Total Income		 Amounts in GBP (£) 000's
31-Mar-2022
31-Mar-2021
30,386
9,768
0
0
3,499
3,752
31,885
2,743
65,770
16,263
0
0
0
0
0
27,000
0
27,000
65,770
43,263

-24-

Sri Lankan Muslim Community Foundation of Milton Keynes

Management Information Year Ended 31 March 2022

Amounts in GBP (£) 000's 31-Mar-2022 31-Mar-2021

Expenditure

Costs of raising donations and legacies

Fund Raising Volunteer's Expenses
Fund Raising Expenses
Expenses - Restricted funds
Expenditure on charitable activities
Website
Events / Festivals & Others
Printing, postage & stationery
Imam's Payments
Friday Expenses
Telephone
Legal Fees
Repair & Maintenance
Light & Heat
Water Rates
Insurance
Cleaning Expenses
Funeral Payments
Madrassa Teacher's Payments - SLMCFMK
Madrassa Teacher's Payments
Madrassa Other Expenses
Land Lease Expenses
Depreciation - Equipment
Depreciation - Building - Unrestricted
Travel Expenses
Bank Charges
Other Expenses
Covid Grant - Job Retention Scheme (CJRS)
Depreciation - Building - Restricted
Governance Cost
Professional & Examination Fees
Others
Total expenditure
Net income
Cash & Cash Equivalents
Cash and cash equivalents comprise of the following:
Cash in hand
Cash at Bank
SLMCFMK Account
Islamic Centre Account
Bank overdrafts
Total Cash & Cash Equivalents at the end of the period		 0
2,153
0
2,153
0
1,069
0
5,530
0
420
0
267
8,144
1,500
1,644
4,897
242
0
13,933
0
742
313
9,656
0
0
0
0
48,357
33,632
81,989
950
0
950
85,092
-19,322
31-Mar-2022
1,809
1,628
11,800
13,428
0
15,237		 0
1,575
0
1,575
0
0
715
1,800
1,050
327
0
2,621
5,435
1,200
1,662
1,571
5,520
0
9,496
379
742
1,131
9,656
92
0
0
-3,978
39,419
33,632
73,050
2,690
0
2,690
77,315
-34,052
31-Mar-2021
331
1,403
13,751
15,154
0
15,485