2023-03-31-accounts

REGISTERED CHARITY NUMBER: 1120471

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Locksley Estate Cultural Association

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

Locksley Estate Cultural Association

Contents of the Financial Statements
for the Year Ended 31 March 2023

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	10
Detailed Statement of Financial Activities		11

Locksley Estate Cultural Association

Report of the Trustees
for the Year Ended 31 March 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Public benefit

The Trustees confirm that they abide by the Charity Commissions guidance on public benefit in complying with Section 17 of the Charities Act 2011 to have due regard to public benefit in meeting its objectives and activities.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity continued to collect donations from the members of public as well as memberships' fees. There are continuous commitments from the users and members to support charity's activities.

The charity provides social welfare, worship and educational support to the community and promotes social awareness among general public.

FINANCIAL REVIEW

The financial statements are set out on pages 4 to 9 have been prepared implementing Financial Reporting Standard for Smaller Entities (effective January 2015).

The Statement of Financial Activities show net surplus for the year of a revenue nature of £15,760. The total reserves at the year end after accounting for unrealised (losses) /after revaluing investments of £104,790.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The Charity' objects and regulations are regulated by the constitution adopted on 26 July 2007 and the charity is registered as a charity on 03 January 2013.

The objects of the charity are:

1) To advance the Islamic faith in accordance with the Quran and Sunnah for the benefit of the public in Tower Hamlets in particular but not exclusively through holding prayer meetings, lectures, and producing/distributing literature on Islam.

2) The advancement of religious and general education for the benefit of the public in Tower Hamlets, including but not restricted in promoting interfaith dialogue and the prevention of alcohol and drugs abuse and misuse.

To meet these objectives the charity provides building/facilities/opens paces to the community and also provides advocacy/advice and information. In order to fund these activities the charity seeks donations and subscriptions from the public, institutions and its members.

Management and Administration

The charity is organised with a committee elected by the members to oversee the overall activities. The charity has appointed trustees. The trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. The names of trustees are declared when a charity is first registered. The trustees are responsible for keeping the list up to date and may do this by updating their details online as it happens, using their Annual Return, or for charities with income below £10,000, by using their Annual Update.

One member is nominated as a chairperson to monitor the day to day operation of the charity.

Page 1

Locksley Estate Cultural Association

Report of the Trustees

for the Year Ended 31 March 2023

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1120471

Principal address

24 Norbiton Road London E14 7TF

Trustees

Mawlana Mohammed Musleh Uddin M W Ali Abdul Ahad Azizur Rahman Mohammed Foysol Uddin Joynul Hoque Abdul Gofur Khan

Independent Examiner

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

Approved by order of the board of trustees on 28 March 2024 and signed on its behalf by:

Mawlana Mohammed Musleh Uddin - Trustee

Page 2

Independent Examiner's Report to the Trustees of
Locksley Estate Cultural Association

Independent examiner's report to the trustees of Locksley Estate Cultural Association

I report to the charity trustees on my examination of the accounts of Locksley Estate Cultural Association (the Trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. 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 Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts 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.

Anwar F Chowdhury FCCA

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

28 March 2024

Page 3

Locksley Estate Cultural Association

Statement of Financial Activities
for the Year Ended 31 March 2023

31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 31,229 Other income - Total 31,229 EXPENDITURE ON Charitable activities Worpship & Edducational Support 8,524 Other 6,945 Total 15,469 NET INCOME 15,760 RECONCILIATION OF FUNDS Total funds brought forward 89,030 TOTAL FUNDS CARRIED FORWARD 104,790	31.3.22 Total funds £ 23,380 405
	23,785
	4,072 7,966
	12,038
	11,747 77,283
	89,030

The notes form part of these financial statements

Page 4

Locksley Estate Cultural Association

Balance Sheet

31 March 2023

31.3.23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 14,746 CURRENT ASSETS Cash at bank and in hand 91,364 CREDITORS Amounts falling due within one year 6 (1,320) NET CURRENT ASSETS 90,044 TOTAL ASSETS LESS CURRENT LIABILITIES 104,790 NET ASSETS 104,790 FUNDS 7 Unrestricted funds 104,790 TOTAL FUNDS 104,790	31.3.22 Total funds £ 8,513 81,117 (600) 80,517 89,030 89,030 89,030 89,030

The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2024 and were signed on its behalf by:

Mawlana Mohammed Musleh Uddin - Trustee

The notes form part of these financial statements

Page 5

Locksley Estate Cultural Association

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

• 10% on cost

Taxation

The charity is exempt from tax on its charitable activities.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

continued...

Page 6

Locksley Estate Cultural Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

3. STAFF COSTS

The average monthly number of employees during the year was as follows:

4.

Admin No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Other income Total EXPENDITURE ON Charitable activities Worpship & Edducational Support Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.3.23 31.3.22 3 2 Unrestricted fund £ 23,380 405 23,785 4,072 7,966 12,038 11,747 77,283 89,030

continued...

Page 7

Locksley Estate Cultural Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS

5.	TANGIBLE FIXED ASSETS
				Improvements
				to
				property
				£
	COST
	At 1 April 2022			14,533
	Additions			8,540
	At 31 March 2023			23,073
	DEPRECIATION
	At 1 April 2022			6,020
	Charge for year			2,307
	At 31 March 2023			8,327
	NET BOOK VALUE
	At 31 March 2023			14,746
	At 31 March 2022			8,513
6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.3.23	31.3.22
			£	£
	Other creditors		1,320	600
7.	MOVEMENT IN FUNDS
			Net
			movement	At
	At	1.4.22	in funds	31.3.23
		£	£	£
	Unrestricted funds
	General fund	89,030	15,760	104,790
	TOTAL FUNDS	89,030	15,760	104,790
	Net movement in funds, included in the above are as follows:
	Incoming		Resources	Movement
	resources		expended	in funds
		£	£	£
	Unrestricted funds
	General fund	31,229	(15,469)	15,760
	TOTAL FUNDS	31,229	(15,469)	15,760

continued...

Page 8

Locksley Estate Cultural Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

		Net
		movement	At
	At 1.4.21	in funds	31.3.22
	£	£	£
Unrestricted funds
General fund	77,283	11,747	89,030
TOTAL FUNDS	77,283	11,747	89,030

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	23,785	(12,038)	11,747
TOTAL FUNDS	23,785	(12,038)	11,747

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1.4.21	in funds	31.3.23
	£	£	£
Unrestricted funds
General fund	77,283	27,507	104,790
TOTAL FUNDS	77,283	27,507	104,790

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	55,014	(27,507)	27,507
TOTAL FUNDS	55,014	(27,507)	27,507

continued...

Page 9

Locksley Estate Cultural Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 10

Locksley Estate Cultural Association

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
	31.3.23	31.3.22
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	31,229	23,380
Other income
Other income	-	405
Total incoming resources	31,229	23,785
EXPENDITURE
Charitable activities
Wages	7,096	4,072
Support costs
Management
Postage and stationery	1,020	600
Governance costs
Rent and rates	3,300	1,125
Insurance	191	-
Sundries	408	688
Accountancy and legal fees	720	600
Repair and maintenance	427	3,500
Depreciation of tangible fixed assets	2,307	1,453
	7,353	7,366
Total resources expended	15,469	12,038
Net income	15,760	11,747

This page does not form part of the statutory financial statements

Page 11