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2020-12-31-accounts

Registered Charity Number: 1121179

EIC AL_MASJID TRUST

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

EIC AL_MASJID TRUST

CONTENTS

Page Page
General and administrative information 1
Trustee 2 - 7
8 - 11
Statement of financial activities 12
Balance sheet 13
Cash flow statement 14
Notes to the financial statements 15
 23

EIC AL_MASJID TRUST

GENERAL AND ADMINISTRATIVE INFORMATION

Reference and Administrative Details

Reference and Administrative Details
Trustees Sulaiman Sulaiman (Chairman)
Abdallah Ramankhan (Vice Chairman)
Nazrul Islam (Assistant Secretary)
Mohammad Mushfique Uddin
Mohammad Shahidul Hoque (Treasurer)
Azizul Haque (Assistant Treasurer)
Jahangir Ahmad Kashmiri
Rizwan Sarwar Butt
Mohammad Azizul Hoque
Khalid Mahmood
Mohammed Abdul Kadir Zaigirdar
Nizamul Islam
Abid Mahmood
Awes Omar Ahmed
Assistant Secretary Nazrul Islam
Registered Office 20-34 Raynham Road
Angel Edmonton
London
N18 2SJ
Charity Registration Number: 1121179
Auditors UHY Hacker Young
Quadrant House
4 Thomas More Square
London
E1W 1YW
Bankers Natwest Bank plc
Al Rayan Bank plc
Barclays Bank plc

1

TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

EIC AL_MASJID TRUST

The Trustees present their annual report and accounts for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts 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 2015).

The EIC Al_Masjid Trust was constituted under a Trust Deed dated 6 July 2003 and amended on 25 July 2007. The trust evolved from an incorporated association, namely Edmonton Islamic Centre Al_Masjid (Charity no.1048604), which was registered on 11[th] July 1995 and removed from the register on 25[th] October 2010 with all the funds being transferred to EIC Al_Masjid Trust.

The principal activities of the charity are the operation of an Islamic Centre for religious purposes and the provision of services to the Muslim community.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is governed by its trust deed. Legal responsibility for the management and stewardship of the charity is vested in the Board of Trustees. The secretary of the charity is responsible for the day-to-day management of the charity and is responsible to the Board of Trustees.

The Trustees who served during the year were as follows:

Sulaiman Sulaiman (Chairman) Abdallah Ramankhan (Vice Chairman) Tariq Aziz Chaudhri (removed on 7 June 2021) Nazrul Islam (Assistant Secretary) Mohammad Mushfique Uddin Mohammad Shahidul Hoque (Treasurer) Azizul Haque (Assistant Treasurer) Jahangir Ahmad Kashmiri Rizwan Sarwar Butt Mohammad Azizul Hoque Khalid Mahmood Mohammed Abdul Kadir Zaigirdar Nizamul Islam Abid Mahmood Awes Omar Ahmed

Board meetings are held on a quarterly basis with additional meetings as required. The Board decides matters of strategy and overall policy and sets budgets.

Appointment and training of Trustees

The Trustees are appointed at a special board meeting by way of voting.

2

EIC AL_MASJID TRUST

TRUSTEE FOR THE YEAR ENDED 31 DECEMBER 2020

Upon appointment as Trustees, it is the policy and procedures of the EIC Al_Masjid Trust for all Trustees to read and review the remit of the charity. They meet with the other Trustees and staff to undergo training in the issues that the charity deals with and to familiarise themselves with the charity. They are kept up to date on key governance directives, training and publications. Trustees are in contact with the secretary and staff on a regular basis and some of the Trustees help with individual cases.

No new Trustees have been appointed during the year ended 31 December 2020.

Arrangements for setting pay for Trustees

The Trustees are considered to be key management personnel of the charity in charge of directing and controlling, running and operating of the Trust on a daily basis. Only one of the Trustees is being remunerated and it is set during board meeting annually taking into account the financial position of the charity.

Organisation

The Board of Trustees consists of office bearers & ordinary Trustees. The office bearers include the Chairman, Vice Chairman, Secretary, Assistant Secretary, Treasurer and Assistant Treasurer who carry out their roles as per the trust deed.

Ordinary Trustees also form part of sub committees that meet regularly to fulfill tasks given by the Board of Trustees. The following sub committees regularly met and carried out tasks given by the Board of Trustees:

Risk management

The Trustees review the risks that the charity faces annually and consider that adequate safeguards are in place to minimize the exposure. The main risks identified are as follows:

3

EIC AL_MASJID TRUST

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees have a risk management strategy which comprises:

Where significant financial risk still remains, they have ensured they have adequate insurance cover and an effective system of internal control.

OBJECTIVES AND ACTIVITIES

The Trustees have paid due regard to the guidance issued by the Charity Commission in deciding what activities the trust should undertake.

The main objectives of the trust are as follows:

Public Benefit

The Trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission with regard to public benefit.

ACHIEVEMENTS AND PERFORMANCE

EIC AL_Masjid Trust is one of the largest mosques/Islamic centres in North London, and is attended by over 10,000 people per week. There are regular congregations as well as other vital functions to cater for the local Muslim population and beyond. The Trust has seen a significant rise in worshippers from different ethnic backgrounds, making it one of the very few mosques in the area that have such multi-cultural communities coming together. The Trust provides a complete funeral service in line with the teachings of Islam.

The reputation of EIC Al_Masjid Trust endeavours to provide the best service for its users to ensure that the number of users is always on the increase.

4

EIC AL_MASJID TRUST

FOR THE YEAR ENDED 31 DECEMBER 2020

Financial Review

The incoming resources for the year amounted to £318,033 (2019: £657,885). The COVID-19 pandemic has severely reduced the income of the Trust due to the limited number of worshipers allowed to worship at the masjid initially and following the temporary closure of the masjid as a result of lockdown restrictions. However, EIC Al_Masjid Trust is still extremely grateful to all the supporters and expects the same support in the future.

Within incoming resources is £93,255 (2019: £124,338) relating to rent received from the letting out of the The Charity has given a 3-month rent waiver to its tenants in light of the pandemic.

The Charity held the following events in the year:

The Centre provided private counselling sessions with the imams including marriage counselling, and advice on different aspects of Islam. The Centre also organised visits by the imams and other worshipers to patients in local hospitals at the request of the hospitals, the patients and family members.

Adult Arabic and Quran classes were also provided on a regular basis throughout the year.

Expenditure on charitable activities in the year amount to £301,082 (2019: £332,944) whilst total governance costs incurred in the year came to £45,304 (2019: £42,725). The Trust held fund balances as at 31 December 2020 of £5,472,007 (2019: £5,500,360), comprising of a fixed asset fund of £1,463,656 (2019: £1,463,656), an unrestricted fund of £3,984,129 (2019: £4,012,482) and a restricted fund of £24,222 (2019: £24,222). These funds include cash reserves of £621,632 (2019: £678,613) at the year-end.

5

EIC AL_MASJID TRUST

TRUSTEE FOR THE YEAR ENDED 31 DECEMBER 2020

During the year, the Trust has identified an instance whereby proceeds from the funeral facility services had not been accounted for in the accounting records. This has since been adjusted for accordingly in these financial statements and included within other debtors. In accordance with accounting regulations which require debtors to be assessed for impairment at each balance sheet date, a 50% provision of £34,459 has been made against this balance. Despite this, the Trustees are proactively pursuing the full amount owed. Trustees promptly filed a Serious Incident Report with the Charity Commission when made aware of this financial irregularity by the manager. The Commission is regularly updated with the development.

Outlook for 2021

In the coming year, the Trust is expected to continue with its fundraising activities to improve facilities for its users especially for the ladies and the youth. The wudhu and toilet facilities are in need of refurbishment and to incorporate a water recycling plant would cut down on the water bill.

The roof for all buildings require extensive repair. The trustees are getting several quotes before making the final decision on the firm to engage for these works.

The funeral hearse and van are also likely to be replaced in 2021.

Reserves policy

The Trustees have not yet formalised a specific reserves policy, beyond the requirement that reserves levels are regularly monitored to ensure that sufficient reserves are maintained to meet anticipated future needs.

Investment policy

The Charity has no investments apart from that of an investment property and cash deposits retained with major UK retail banks.

Trustee

The financial statements have been prepared in accordance with the accounting policies set out in notes to and Reporting by Charities: Statement of Recommended Practice (SORP) 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 2015).

6

TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

EIC AL_MASJID TRUST

ies in relation to the financial statements (continued)

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:

The Trustees are responsible for keeping proper records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust sonable steps for the prevention and detection of fraud and breaches of law and regulations.

The Trustees are responsible for the maintenance and integrity of the charity and the financial information United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of disclosure to the auditor

So far as the Trustees are aware:

Auditors

A resolution will be proposed at the Annual General Meeting that UHY Hacker Young be reappointed as auditors to the charity for the ensuing year. Approved by the Trustees on 22 September 2021 and signed on their behalf by:

Sulaiman Sulaiman Chairman

7

UHY Hacker Young LLP Quadrant House 4 Thomas More Soua London EIW 1VN Hackeryoung Chartered Accountant" INDEPENDENT AUDITORS, REPORT TO THE TRusfEES OF EIC AL MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2020 Opinioj) We have audited the financial statements of EIC AL Masjid Trust (the 'Charity') for the year ended 31 December 2020 which comprise the Sialeinent of Financial Activities, the Balance Sheet and the notc5 10 the financial statements, including significant accounting policies. The financial reporting framework lliat has bccn applied in their preparation is applicable law and United KirLgdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice),. In our opinion the financial statements.. give a true and fair view of the slate of the Charity's affairs as at 31 December 2020 and of its incornitjg resources and application of resources. for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requiTements of the Charities Act 2011. Basis for opinion Wc conduGt¢d our audit in occordance with International Standards nn Aijditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fvrther described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Cliarity in accordance with the ethical requiremenrs ihat arc r¥l¥v&uiL Lv vui audit of tlic findncjal 3tatcin¢TJts in tlie UK, including Ilie FRC'S Ethi￿1 Standard. and we have fulfilled our other ethical responsibilities in kecordancc with these requirements. We believe that the audit cvidence wc have obtained is sufficient aud appropriate to provide a basis for our opinion. CviiLlu&lopJ relatlng to going ¢onctr In auditing tlie financial Statements, we have concluded that the trustees, use of the going concern basis of accounting in the PTeparation of the financial statements is appropriate. Based on the work we Iiave perfonned. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significanl doubt on tlie Charity's ability to Continue as a going concern for a period of at least 12 inonths from wlien th¢ f￿anCIal statemcllts are 8uihorised for issue. Our rcsponsibilities and the responsibilities of the trustees with rupect to going concern are described in the relevant sections of this report. Other information Tlie other information comprises the information included in the allnual report. other than the financial statements and our auditois, report Ihereon. Tlie Trustees are responsible for the oilier information. Our opinion on the financial statcinents does not cover the othcr information and we do not express ￿]Y fonn of assuran¢¢ conclusion thereon.

UHY Ha(ker Young LLP ()Jadrant House 4 Thomas More Square l FIW IYW Hackeryoung Chartered Accountants INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF EIC AL MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2020 Our rcspon5ibilily is lo read the other infom)ation and. in doing so, Consid￿ whether the other illfom]alion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otlierwise appears to be materially misslaled. If wc identify such material inconsistencies or &pparenl materi21 misslalemenls. we ar¢ required to delerinine wlicthcr there is a rnaterial misstatement in tlie financial statements or a material misstateiDent of the otber information. If, based on tlie work we have perfoiined, we conclude that there is a material rnisstateinenl of this other infoi'mation, we are rcquircd to report tliat fact. We have nothing to report in this regard. Matters on which we are requfired to report by exception In the light of the knowledge and understanding of tlie charity and its environment obtained ID the course of the audit, w¢ h&ve not identified material misstalcments in the trustees, report. We have notliing to report in respect of the following matters in relation to wliicli the Charities Act 2011 requires us lo report lo you if, in our opinion.. the information given in the Trustees. Report is inconsistent in any material respect with the financial sthtements. or sufficient accounting records have not been kept. or the financial 5tat¢ments are not in agreement with the ac¢ouThting records and returns,. or we have not received all the information and explanations we require for our audit. Respon$ibilitics of trustCC5 As explaiiied inorc fully in the Statement of Trustees, Responsibilities, the Trustces are responsible for tlie preparation of the financial statements wl)i¢h give a true and fair view, and for such internal control as the trustees deterniine is necessary to enable the preparation of financial statements tliat arc free from material misstatement, wheilier due to fraud or error. In preparitlg the fjnancial stalemcnts, the Twstees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustccs citlier intend to liquidate tlie Charity or to cease operations. or have no realistic alternative but to do so.

VHY Ha¢ker Young LLP Quadrant House 4 Thomas More Square London E1W IYW Hackeryoung Chartered Accountant- 1Tr4DEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF EIC AL MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2020 Auditors, re5ponsibilltie5 for the audlt of the financial stat¢ment5 We have been appointed as auditors undcr section 144 of the Cliarilies Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whethcr the financial statements a5 8 whole are free from inaterial misstatement. wh¢ther due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a Iiigli level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or iii the aggregate, they could reasonably be expected to influence the economic decisiotLS of users taken on the basis of these financial Statements. Irregularities, includirLg fi'aud, are instaii¢¢s of non-compliance with laws and regulations. We design procedw.es in line with our responsibilities, outlined above, to deteet material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud, 1$ detailed below. Based on our understanding of the Charity and the industry in which it operates. we identified that tlie principal risks nf nnn4()mpliance witli laws and regulations ielated to tlie acts by the Charity, whicli we contrary to applicable laws and regulations including fi'aud, aiid we considered Il)e cxlent to whicli non coinpliance might have a material effect on the financial slalemenls. We also considered those laws and regulations ihdL liuvr a diL¢¢t iiiipact on thc preparation of tlie finan¢i&l 8t&tements such as the e.ompAnie A¢t 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of tlie financial slalements (including tlie risk of override of controls), and determined tliat the principal risks were related to inflated income. Audit procedures performed ineluded.. re.vip.w nf the financial statement disclosures to underlying supporting documentation, enquiries of management and testing of journals and evaluating wlietlier tliere was evidence of bias by the Trustees that represented a risk of matcrial misstatement due to fraud. There are inhercnt limitations in the audit procedures described above and the further removed non - compliaiice with laws and regulations is from the evcnts and transactions reflected in tlie fiiiancial statements, the less likely we would become aware of it. Also, the iisk of not delecting a material misstalemenl due to fraud is higher than the risk of not detecting one Tesulting from error, as fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentations, or through collusion. A furtlier description of our responsibilitics for thc audit of Ilie financial statemcnts is located on the Financial Reporting Council's website at: littp'.l/www.frc.org.uldauditorsresponsibilitics. This dcscription fonns part of our fAuditor's report. UHY Hacker Young LLP is eligible to act as an auditor of the Charity by virtue of its eligibility for appointmcnt as auditor of a cornpany under section 1212 of the Conipanies Act 2006. io

UMY HackEr LLP Quadr8nt HIyJ5è 4 Thomas MO￿ Square London E1W IIW Hackeryoung Chartered Accountant= INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF EIC AL MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2020 Use of our report Tliis report is made solely to the Charity's tn]stees. as a body, in accordance with Charities Act 201 l. Our audit work has been undcrtaken so tlial we might state to the trustees those matters we are requircd to slate to them in an auditors, report and for no other purpose. To the ￿lIest extent pennitled by law, we do not accept or assume responsibility to anyone other than Ihc Charity and its trustees as a body, for our audit work, for this report, or for the opinions we have fornied. UHY Haeker Young Statutory Auditor Quadrant House 4 Thon)as Mol'e Square London Elw IYW Date: 2021

EIC AL_MASJID TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Notes Unrestricted Restricted Total
funds funds funds Total funds
2020 2020 2020 2019
£ £ £ £
Income and endowments from:
Donations and legacies 2 222,028 - 222,028 508,577
Other trading activities 3 2,750 - 2,750 24,970
Investments 4 93,255 - 93,255 124,338
__ __ __ __
Total 318,033 - 318,033 657,885
__ __ __ __
Expenditure on:
Charitable activities 5 301,082 - 301,082 332,944
Others 6 45,304 - 45,304 42,725
__ __ __ __
Total 346,386 - 346,386 375,669
__ __ __ __
Net movement in funds (28,353) - (28,353) 282,216
Reconciliation of funds
Total funds brought forward 4,012,482 1,487,878 5,500,360 5,218,144
__ __ __ __
Total funds carried forward 3,984,129 1,487,878 5,472,007 5,500,360
======= ======= ======= =======

There are no recognised gains or losses other than those included in the Statement of Financial Activities. All incoming resources and resources expended derive from continuing activities.

12

EIC AL MASJID TRUST BAL￿￿CE SHEET AS AT 31 DECEMBER 2020 No¢eJ 2020 2019 ued asseti Tangible assets Inv¢stsn¢nt prop¢rry io 2.473.572 2.400.000 2.489.548 2.400.000 Total flxed assets 4.873.572 4.1189,548 Current assds Debtors Cash at bank and in hand 12 131.789 621.632 89.337 678.613 Tot41 cu￿ent 85ets 753.421 767.950 Liabilities Creditor5." amounts due within one year 13 (154.986) {157,138) et curreDt assets 598.435 610.812 Totsi as%ts le58 current ]Sabllltles S,472,￿17 s.5￿360 The fvnds of the charlty: UnTeJtrlcted Income fvnd8 Unrestrictcd rcN'wuc accumulated Restrieted income funds Rcstricted r¢i'¢nuc accumula￿d Re5trtcted capital fvnds Restrict4xl fixed ￿et fimds 14 3.984.129 4.012.482 14 24222 14 1,463.656 1,463.656 Totsl ¢hrlty' funds s,472,￿7 s.5￿360 The financial ststem¢nts were approved by the Board of Trusiees on 22 Sepi¢mb¢r 2021 and were signed onitsbe alf by.. Sulai ch*In￿tt uiaimatt NRZTUI Islam

EIC AL_MASJID TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

Notes 2020 2019
£ £
Cash flows from operating activities:
Net cash provided by operating activities 16 (48,335) 253,949
Cash flows from investing activities:
Purchase of property, plant and equipment (646) (25,554)
__ __
Net cash used in investing activities (646) (25,554)
__ __
Cash flows from financing activities:
Repayments of borrowings (8,000) (27,000)
__ __
Net cash used in financing activities (8,000) (27,000)
__ __
Change in cash and cash equivalents (56,981) 201,395
Cash and cash equivalents brought forward 678,613 477,218
__ _
Cash and cash equivalents carried forward 17 621,632 678,613
======= =======

14

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

EIC AL_MASJID TRUST

1 Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2015) (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. The Trust constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historic cost convention. A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.

b) Incoming resources

All incoming resources are recognised when the trust has entitlement to the funds, certainty of the receipt and the amount can be measured with sufficient reliability.

Donations

Donations are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured.

Other trading activities

Other income, including the hire of facilities, is recognised in the year it is receivable and to the extent the goods have been provided or on the completion of the service.

c) Resources expended

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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note 5 below.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Charitable activities

These are the costs incurred in the operation of the Trust.

Other costs

Other costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice, including the statutory audit and legal fees.

All resources expended are inclusive of irrecoverable VAT.

15

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies (continued)

d) Investment property

Investment property is included in the balance sheet at their open market value and is not depreciated.

e) Depreciation

Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life as follows:

Motor vehicles 25% on reducing balance basis Plant and machinery 15% on reducing balance basis

No depreciation is charged on freehold land and buildings as Trustees are of the opinion that the property has been well maintained and the value of the property has increased.

f) Fund accounting

Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objectives of the Trust at the discretion of the Trustees.

Restricted fixed assets funds are resources which are to be applied to specific capital purposes.

Restricted general funds comprise all the resources which are to be applied for specific purposes for which the donors have contributed to.

2

Donations and legacies
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2020 2019
£ £ £ £
Donations and collections 158,438 - 158,438 410,806
Funeral facility 63,590 - 63,590 97,771
__ __ __ __
222,028 - 222,028 508,577
======= ======= ======= =======

16

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

3 Other trading activities
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2020 2019
£ £ £ £
Hall and stalls hire 2,750 - 2,750 18,750
Huffaz collection - - - 4,355
Others - - - 1,865
__ __ __ __
2,750 - 2,750 24,970
======= ======= ======= =======
4 Investment income
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2020 2019
£ £ £ £
Rent from investment property 93,255 - 93,255 124,338
__ __ __ _
93,255 - 93,255 124,338
======= ======= ======= =======
5 Expenditure on charitable activities
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2020 2019
£ £ £ £
Direct costs
Provision of funeral facilities 10,123 - 10,123 15,071
Staff costs (including NIC) 179,048 - 179,048 180,856
Ramadhan expenses - - - 13,445
Huffaz Hadiya - - - 4,355
__ __ __ __
189,171 - 189,171 213,727
======= ======= ======= =======

17

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

5 Expenditure on charitable activities (continued)

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2020 2019
£ £ £ £
Allocated support costs
Advertising and promotion 4,251 - 4,251 2,755
Premises costs 43,395 - 43,395 93,728
Office expenses 1,871 - 1,871 1,720
Finance payments 1,251 - 1,251 1,157
Sundry expenses 10,062 - 10,062 216
Depreciation 16,622 - 16,622 19,641
Amount not recoverable* 34,459 - 34,459 -
__ __ __ __
111,911 - 111,911 119,217
======= ======= ======= =======
Total costs 301,082 - 301,082 332,944
======= ======= ======= =======

* refer to Note 12 and the financial review section in the Trustees Report for further information.

6 Governance costs

6 Governance costs
2020 2019
£ £
Trustee s remuneration (including NIC) 30,724 36,245
8,500 6,480
Legal and professional fees 6,080 -
__ __
45,304 42,725
======= =======
7 Staff costs 2020 2019
£ £
Wages and salaries including Trustees remuneration 198,584 204,134
Social security costs 9,761 11,716
Pension costs 1,427 1,251
__ __
209,772 217,101
======= =======

No employees received remuneration in excess of £60,000 during the year. The average number of employees during the year was 12 (2019: 12).

18

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8 Transactions with Trustees

One of the Cha former Trustees, Tariq Aziz Chaudhri received remuneration of £30,724 (2019: £36,245) from the Charity. He was since removed as a Trustee on 7 June 2021.

Mr Mushfique Uddin, one of the Trustees of EIC Al_Masjid Trust, has an interest in Ebrahim Community College, to which EIC Al_Masjid Trust has given a loan. Mr Mushfique is a trustee of Ebrahim Community College.

Trustees, Mohammad Azizul Hoque is also a Trustee of Aid International UK whi property for £8,200 (2019: £11,000) per annum. Both Mohammad Trustees) are also employees of Aid International UK.

No other related party transactions took place during the period.

9 muneration

The remuneration constituted an audit fee of £8,500 (2019: £6,480).

10 Tangible fixed assets

Tangible fixed assets
Freehold
land and Motor Plant &
buildings vehicles machinery Total
£ £ £ £
Cost
At 1 January 2020 2,382,789 38,525 240,624 2,661,938
Additions - - 646 646
__ __ __ __
At 31 December 2020 2,382,789 38,525 241,270 2,662,584
======= ======= ======= =======
Depreciation
At 1 January 2020 - 33,414 138,976 172,390
Charge for the year - 1,278 15,344 16,622
__ __ __ __
At 31 December 2020 - 34,692 154,320 189,012
======= ======= ======= =======
Net book value
At December 2020 2,382,789 3,833 86,950 2,473,572
======= ======= ======= =======
At December 2019 2,382,789 5,111 101,648 2,489,548
======= ======= ======= =======

19

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

11 Investment property

Investment property
Cost or valuation £
At 1 January 2020 & 31 December 2020 2,400,000
=======
Net book value
At 31 December 2020 2,400,000
=======
At 31 December 2019 2,400,000
=======

The Trustees have considered the market value of the property and do not believe that this is significantly different from the book value.

12 Debtors

Debtors
2020 2019
£ £
Other debtors 96,789 54,337
Ebrahim Community College Loan (Charity No.1108141) 15,000 15,000
Madni Trust Loan (Charity No.1022471) 20,000 20,000
__ __
131,789 89,337
======= =======

Other debtors comprise of an amount due from one of the former Trustees. A 50% provision has been made against this balance. Please refer to Note 5 and the financial review section in the Trustees Report for further information.

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2020 2019
£ £
Qarze Hasna loans 34,000 42,000
Accrued expenses 13,450 4,950
Other taxes and social security 7,536 10,188
Other creditors 100,000 100,000
__ __
154,986 157,138
======= =======

20

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14 Movement in funds
At Incoming Resources
At 31
1 January Resources Expended December
2020 2020
£ £ £ £
Unrestricted revenue funds
General funds 4,012,482 318,033 (346,386) 3,984,129
======= ======= ======= =======
Restricted revenue funds
Funeral collection 19,057 - - 19,057
ospice 5,165 - - 5,165
__ __ __ __
24,222 - - 24,222
======= ======= ======= =======
Restricted fixed assets funds
Capital funds 1,463,656 - - 1,463,656
======= ======= ======= =======
Total funds 5,500,360 318,033 (346,386) 5,472,007
======= ======= ======= =======

15 Analysis of net assets by funds

Analysis of net assets by funds
Unrestricted Restricted Total
funds funds funds
2020 2020 2020
£ £ £
Tangible fixed assets 2,473,572 - 2,473,572
Investments 2,400,000 - 2,400,000
Current assets 753,421 - 753,421
Creditors amounts falling due within one year (154,986)
-		 (154,986)
__ __ __
5,472,007 - 5,472,007
======= ======= =======

21

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

16 Reconciliation of net movement in funds to net cash flow from operating activities

2020
£
Net movement in funds
(28,353)
Add back: depreciation charge
16,622
Add back: Amount not recoverable
34,459
(Increase)/Decrease in debtors
(76,911)
Increase/ (Decrease) in creditors
5,848
_
Net cash provided by operating activities
(48,335)
=======
17
Analysis of cash and cash equivalents
2020
£
Cash in hand
621,632
_
Total cash and cash equivalents
621,632
=======
18
Comparative Statement of Financial Activities
Unrestricted
Restricted
funds
funds
£
£
Income and endowments from:
Donations and legacies
503,412
5,165
Other trading activities
20,615
4,355
Investments
124,338
-
_
_
Total
648,365
9,520
_
_
Expenditure on:
Charitable activities
328,589
4,355
Others
42,725
-
_
_
Total
371,314
4,355

 2019
£
282,216
19,641
(47,438)
(470)
_
253,949
=======
2019
£
678,613
_
678,613
=======
Total
funds
£
508,577
24,970
124,338
_
657,885
_
332,944
42,725
__
375,669

22

EIC AL_MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

18 Comparative Statement of Financial Activities (continued)

Unrestricted Restricted Total
funds funds funds
£ £ £
Net movement in funds 277,051 5,165 282,216
Reconciliation of funds
Total funds brought forward 3,735,431 1,482,713 5,218,144
__ __ __
Total funds carried forward 4,012,482 1,487,878 5,500,360
======= ======= =======

23