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|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|
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||||||||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|
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|||||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|
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||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|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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|
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|||||
|---|---|---|---|
|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|
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|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||
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|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|
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