| Contents | Page | |||
|---|---|---|---|---|
| Directors'/Trustees' | report | 1-5 | ||
| Auditors | report | 6-8 | ||
| Statement | of Financial | Activities | ||
| Statement | of Financial | Position | 10 | |
| Notes to the financial | statements | 11-16 |
| Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2022 | 2021 | |||||
| Notes | f | |||||||
| Incomin Resources |
||||||||
| Donations | and legacies | 51,481 | 51,481 | 293,711 | ||||
| Investment | Income | 221,171 | 221,171 | 133,419 | ||||
| Grants and | other income | 1,885 | 1,885 | 67,900 | ||||
| 274 537 | 274 537 | 495,029 | ||||||
| Resources | Ex ended | |||||||
| Investment | Management | Costs | 12,934 | 12,934 | 13,645 | |||
| Direct Charitable expenditure |
39,726 | 39,726 | 45,605 | |||||
| Management | and Administration | 36,689 | 36,689 | 35,306 | ||||
| Total Resources Expended |
89,348 | 89,348 | 94,556 | |||||
| Net income | from charity's | activities | 185,189 | 185,189 | 400,473 | |||
| Gains / (losses) on property | Disposal | 60,988 | 60,988 | |||||
| Net Movement before unrealised |
||||||||
| gains | and losses | 246,177 | 246,177 | 400,473 | ||||
| Gains/(losses) on investment |
property | |||||||
| revaluation | ||||||||
| Net Movement in Funds |
246,177 | 246,177 | 400,473 | |||||
| Reconciliation offunds: |
||||||||
| Funds as at | 1 June 2021 | 4,617,654 | 3,385 | 4,621,039 | 4,220,566 | |||
| Funds as at | 31 May 2022 | 4863 831 | 3385 | 4867 216 | 4621 D39 |
| Total | Total | ||||
|---|---|---|---|---|---|
| Notes | 2022 | 2021 | |||
| Fixed Assets: | E | E | |||
| Freehold Land and |
Buildings | 1,575,748 | 1,589,232 | ||
| Investment Properties |
3,080,000 | 3,080,000 | |||
| Fumitun, fixtures |
and fittings | 4,269 | 5,712 | ||
| 10 | 4,660,017 | 4,674,944 | |||
| Current Assets: | |||||
| Other debtors | 148,881 | 88,578 | |||
| Cash at bank and | in hand | 260,548 | 255,892 | ||
| 409,429 | 344,470 | ||||
| Current LIabillties: | |||||
| Amount falling due |
within one year | 12 | 85,544 | 61,688 | |
| Net Current Assets I(Liabilities) | 323,885 | 282,782 | |||
| Total Assets less | Current Liabilities | 4,983,902 | 4,957,725 | ||
| Creditors: | |||||
| Amount falling due |
alter one year | 13 | 116,686 | 336,686 | |
| Total Net Assets | 4,867,216 | 4,621,039 | |||
| Funds ofthe Chari | |||||
| Unrestricted | 4,863,831 | 4,617,654 | |||
| Restricted | 3,385 | 3,385 | |||
| Total Funds asat | 31 May 2022 | 4,867,216 | 4,621,039 |
| Ex enses S mrna | Ex enses S mrna | Notes t | o the acco | unts for the p | eriod ended 3 | 1 May 2022 | ||
|---|---|---|---|---|---|---|---|---|
| 7 | Investment Management |
Costs | Unrestricted | Restricted | 2022 | 2021 | ||
| F | F | F | F | |||||
| Property maintenance |
7,861 | 7,861 | ||||||
| Insurance | 4,953 | 4,953 | 4,867 | |||||
| Legal fees | 120 | 120 | 6,170 | |||||
| Finance charges | 2,608 | |||||||
| 12934 | 12934 | 13,645 | ||||||
| 8 | Direct Charitable Expenditure |
Unrestricted | Restricted | 2022 | 2021 | |||
| F. | F. | |||||||
| Rent, Rates and Water | 10,496 | 10,496 | 19,088 | |||||
| Salaries, Eer's NIC and | Pensions | Note 15 | 25,946 | 25,946 | 19,966 | |||
| Electricity &Gas |
1,374 | 1,374 | 893 | |||||
| Office insurance | 269 | 269 | ||||||
| Cleaning & maintenance |
842 | 842 | 1,415 | |||||
| Telephone and internet |
327 | 327 | 235 | |||||
| Printing, postage and stationery |
371 | 371 | 3,826 | |||||
| Community Activities |
||||||||
| COVID-19 assistance | ||||||||
| Sundry Expenses |
101 | 101 | 183 | |||||
| 39726 | 39726 | 45,605 | ||||||
| 9 | Management And Administration |
Unrestricted | Restricted | 2022 | 2021 | |||
| Funds | Funds | Total | Total | |||||
| a) Support Cost: | E | E | F | |||||
| Rent, Rates and Water | 3,499 | 3,499 | 6,363 | |||||
| Salaries, Eer's NIC and | Pensions | Note 15 | 17,056 | 17,056 | 15,396 | |||
| Admin support staff |
1,640 | 1,640 | ||||||
| Office insurance | 90 | 90 | ||||||
| Telephone and internet |
491 | 491 | 352 | |||||
| Electricity &Gas |
458 | 458 | 298 | |||||
| Cleaning 8 maintenance | 281 | 281 | 472 | |||||
| Printing, postage and stationery |
124 | 124 | 1,275 | |||||
| ITsoftware and consumables | 345 | 345 | ||||||
| Bank and Credit Card Charges | 27 | 27 | 164 | |||||
| Depreciation of fixture, |
fittings &equipment | 1 443 | 1 443 | 1 655 | ||||
| 25,453 | 25,453 | 25,974 | ||||||
| b) Governing Cost: |
||||||||
| Salaries, Eer's NIC and | Pensions | Note 15 | 5,686 | 5,686 | 5,132 | |||
| Legal fees | 1,950 | 1,950 | ||||||
| Accountancy Fees |
1,200 | 1,200 | 2,100 | |||||
| Auditor Remuneration |
2400 | 2400 | 2 100 | |||||
| 11,236 | 11,236 | 9,332 | ||||||
| 36689 | 36689 | 35,306 | ||||||
| Total Expenses | 89348 | 89348 | 94557 |
| Tangible Fixed A |
ssets: | Freehold | ||||||||||
| Land & | Investment | Fixtures, Fittings |
||||||||||
| Buildings | Property | & Equipment | Total | |||||||||
| f | f | |||||||||||
| At Cost or valuation | 1 August | 2021 | 1,589,232 | 3,080,000 | 63,627 | 4,732,859 | ||||||
| Addtions | ||||||||||||
| Disposals | (13,484) | (13,484) | ||||||||||
| FV Gains/(losses) | on Investment | Property | revaluation | |||||||||
| Transfers to Investment |
property | |||||||||||
| 1 | 575 748 | 3080 000 | 63627 | 4 | 719375 | |||||||
| Depreciation b/fwd. |
57,915 | 57,915 | ||||||||||
| Depreciation for the year |
1,443 | 1,443 | ||||||||||
| Depreciation on disposal |
||||||||||||
| 59358 | 59,358 | |||||||||||
| Net book value at 31 May 2022 | 1 | 575 748 | 3080 000 | 4269 | 4 | 660017 | ||||||
| Net book value at 31 May 2021 | 1 | 589232 | 3080000 | 5712 | 4 | 674 944 | ||||||
| The net book value | oftangible | fixed assets | investment | comprised | of: | 2022f | 2021 f |
|||||
| Investment ro erti |
s | |||||||||||
| Compass House, Neville |
Street | 1,200,000 | 1,200,000 | |||||||||
| 169Mile End Road | 1 880 000 | 1 880 000 | ||||||||||
| 3080,000 | 1 880000 | |||||||||||
| Fair Value reconciliation | 2022f | 2021 | ||||||||||
| Cost of investment | Properties | 3,080,000 | 3,080,000 | |||||||||
| Gains / (losses) on |
revaluation | of | Fixed assets | |||||||||
| 3080 000 | 3,080,000 |
| tors: | 2022 | 2021 | |
| f | |||
| Loan debtors | 37,380 | 46,114 | |
| Rent and other debtors | 111,501 | 42,334 | |
| Pensions | 128 | ||
| 148881 | 88 576 | ||
| Amount Falling Due Within One Year |
2022f | 2021 | |
| Rent Deposits | 35,375 | 35,375 | |
| MCA subscri ptions | 29,823 | ||
| Accruals and deferred | income | 7,200 | 9,240 |
| Payroll, paye and pensions |
1,445 | 3,372 | |
| Private Loans | 11,700 | 1370Q | |
| 85,544 | 61 688 |
| 13 | Creditors: Amount |
Falling Due After More Than | Falling Due After More Than | Falling Due After More Than | Falling Due After More Than | Falling Due After More Than | Falling Due After More Than | Falling Due After More Than | Falling Due After More Than | One Year | One Year | 2022 | 2022 | 2021 | 2021 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| F | F | ||||||||||||||||||
| MCA and | Other Creditors | 116,686 | 336,686 | ||||||||||||||||
| Bank Loan | |||||||||||||||||||
| 116 | 686 | 336 | 686 | ||||||||||||||||
| 14 | Private Loans: | ||||||||||||||||||
| Private Loans are from | individual | donors, | at an | interest-free | rate, | without | any security exchanged. | ||||||||||||
| The loans are repayable | on demand, | and | therefore | do not comprise a fnancing | transaction | (all under | short-term | ||||||||||||
| creditors), and are not |
required | to be | discounted | to present | value. | ||||||||||||||
| 15 | Staff Emoluments: | 2022 | 2021 | ||||||||||||||||
| F | E | ||||||||||||||||||
| Total wages and salaries | 47,522 | 39,580 | |||||||||||||||||
| Employer's NIC |
116 | 38 | |||||||||||||||||
| Employer's Pension |
1 | 051 | 875 | ||||||||||||||||
| 40,494 | |||||||||||||||||||
| Direct Charitable | 25, | 947 | 19,966 | ||||||||||||||||
| Others | 22 | 742 | 20 | 528 | |||||||||||||||
| 48 | 686 | 40,494 | |||||||||||||||||
| Avg No of employees: | Admin | ||||||||||||||||||
| Avg No of employees: | Direct | ||||||||||||||||||
| Employees paid in excess off60,000 |
during the | year | None | None | |||||||||||||||
| 16 | Movement in Funds |
Unrestricted | Designated | Unrestricted | Restricted | Total | |||||||||||||
| Fund | Fund | Total | Fund | Fund | |||||||||||||||
| F. | F | F | F | ||||||||||||||||
| As at 1June 2021 | 293,096 | 4,324,558 | 4,617,654 | 3,385 | 4,621,039 | ||||||||||||||
| Current year surplus/(deficit) | 246,177 | 246, | 177 | 246, | 177 | ||||||||||||||
| Gains i (losses) on revaluation | of Fixed assets | ||||||||||||||||||
| Current year transfer | (190,573) | 207,073 | |||||||||||||||||
| As at 31 May 2022 | 348700 | 4,531,631 | 4 | 863831 | 3385 | 4867216 |
| 17 | Control: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| The members | of the Shoora | Council of the Muslim | Community | Association | (MCA), are also the members | of Islamic | |||
| Forum Trust. MCA is an unincorporated organisation. |
|||||||||
| 18 | Auditor's Remuneration: |
2022 | 2021 | ||||||
| F | |||||||||
| Auditor's Remuneration for the |
audit ofthe charity's | annual accounts | 2,400 | 2 100 | |||||
| Fees Payable | to the charity's | auditor for non-audit | services | 1 200 | 2,100 | ||||
| 19 | Related Party | Transactions | |||||||
| At the year-end | IFTcontinued | to have a loan balance outstanding | with MCA | as below. | |||||
| 2022 | 2021 | ||||||||
| Name | Details | F | |||||||
| Muslim Community Association |
Loan | 116686 | 266 686 |