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2022-12-31-accounts

Registered Charity Number: 1121179

EIC AL-MASJID TRUST

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

EIC AL-MASJID TRUST

CONTENTS

Page
General and administrative information 1
Trustees’ report 2 - 7
Independent auditors’ report 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

Trustees Rizwan Sarwar Butt (Chairman)
Abdallah Ramankhan (Vice Chairman)
Nazrul Islam (Secretary)
Mohammed Azizul Hoque (Assistant
Secretary)
Mohammad Shahidul Hoque (Treasurer)
Khalid Mahmood (Assistant Treasurer)
Mohammad Mushfique Uddin
Abdul Azizul Haque
Jahangir Ahmad Kashmiri
Sulaiman Sulaiman
Mohammed Abdul Kadir Zaigirdar
Nizamul Islam
Abid Mahmood
Awes Omar Ahmed
Zeeshan Rana
Mohamed Imran Omar
Mohammed Ilyas
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

Trustees

1

EIC AL-MASJID TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report and accounts for the year ended 31 December 2022. The financial
statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts
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).

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. Trustees have set up a Management Group to oversee the day to
day management of the charity. The management group consists of Trustees with one of the Trustees being
on a full-time role.

The Trustees who served during the year were as follows:

Sulaiman Sulaiman
Abdallah Ramankhan (Vice Chairman)
Nazrul Islam (Secretary)
Mohammad Mushfique Uddin
Mohammad Shahidul Hoque (Treasurer)
Azizul Haque
Jahangir Ahmad Kashmiri
Rizwan Sarwar Butt (Chairman)
Mohammed Azizul Hoque (Assistant Secretary)
Khalid Mahmood (Assistant Treasurer)
Mohammed Abdul Kadir Zaigirdar
Nizamul Islam
Abid Mahmood
Awes Omar Ahmed
Zeeshan Rana (Appointed August 2022)
Mohammed Imran Omar (Appointed August 2022)
Mohammed Ilyas (Appointed August 2022)

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

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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.

Three new Trustees have been appointed during the year ended 31 December 2022.

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. No Trustees are being remunerated by 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

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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 Charities Act 2011 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

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Financial Review

The incoming resources for the year amounted to £695,257 (2021: £575,377). This is an increase following
recovery from the COVID-19 pandemic. EIC AL-MASJID Trust is still extremely grateful to all the
supporters and expects the same support in the future.

Within incoming resources is £134,340 (2021: £131,840) relating to rent received from the letting out of
the Charity’s investment property.

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. The Charity also
played an active role in the North London Muslim council.

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

Expenditure on charitable activities in the year amount to £289,692 (2021: £317,248) whilst total
governance costs incurred in the year came to £19,657 (2021: £34,622). During the year, the properties of
the Charity have been revalued which resulted in a revaluation gain of £1,872,211 (2021: £NIL). The Trust
held fund balances as at 31 December 2022 of £7,953,633 (2021: £5,695,514), comprising of a fixed asset
fund of £1,463,656 (2021: £1,463,656), an unrestricted fund of £6,465,755 (2021: £4,207,636) and a
restricted fund of £24,222 (2021: £24,222). These funds include cash reserves of £1,232,375 (2021:
£845,609) at the year-end.

5

EIC AL-MASJID TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

In 2021, the Trust 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 previous years’
financial statements and was included within other debtors. In accordance with accounting regulations
which require debtors to be assessed for impairment at each balance sheet date, a full provision was made
against this balance as at 31 December 2021. Despite this, the Trustees are proactively pursuing the full
amount owed.

Outlook for 2023

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.

Roof for all buildings require extensive repair. ���� art of the mosque building has been attended to and the rest of the investment property still requires repair. The trustees are getting several quotes before making the final decision on the firm to engage for these works. 

The Trustees are looking to hold the following activities in 2023:

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.

Trustees’ responsibilities statement

The financial statements have been prepared in accordance with the accounting policies set out in notes to
the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting
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).

6

EIC A￿m￿]D TRUST TRUSTEFSI REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Trustefs, r￿￿￿1b]lIties s¢atemeDt (continued) Charity law requires the Trustees to prepaTe finawial swements for each fin2nci81 year which give a true and fair view of the state of affairs of the cFLarAry at the end of the fllwcial year and of its sutplus or deficit for the financiJ] year. ltt doing so th¢ Tn￿lee$ are required to: select suitsble accounting Frf)lici￿ and apply them eonsistrndy" observe the methods and principles in the Charities SORP: make judgcm¢nts and estimates tbat are re&sonable and prudent; state whether apph"cable accounting standards and sthtements of recommended practice have been followe& subj'ect to any material departuru disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate ¢0 presume thai the charity will continue in operation. The Trustees are responsible for keeping prottr records whith disclose with reawnable accuracy the financial position of the charity and enable th¢m to ¢Dsure that the financia] statements comply with the Charities Act 2011, the Clwity (Ae¢ounts aod Re￿￿ts) Regulations 2(X)8 and th¢ provisions of the ttust deed. They are also res￿hnSIble for saleguarding th¢ th8rity'S assets and hence taking reasonable steps f( the prevention amd detection of fraud and bEeaches of law and regulations. The Th]stees are resy)nsible for th¢ n)aintenance and integrity of the ¢knity and the fit)anciai information included on the charity's website. Legislation in the United Kingdom governing the prepardtion and dis5uDination of financlal statements Jnay differ from legislation in other jurisdictions. ststement ofdisckwe to the auditor So far &8 the TTr￿teeS aware: there is no relevant audit information of which the chaTity'S auditors are unaware: and they have taken a]] the stsps that they ought to have taken as Ttvsrees in order to make themselves aw2r¢ of any relevant audit inforn￿tiOn and to establish that the chatity's audiW Audltors A resolution will be prow)s¢d at the Annual General Meeting that UHY Hacker Young be reappointed as auditors io the chartty for the ensuing year. Approved by the Trusw on 2711012023 and signed on their behalf by: Rizwan Sanwdr Butt Chalrman

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF EIC AL-MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2022

Opinion

We have audited the financial statements of EIC AL-MASJID Trust (the ‘Charity’) for the year ended 31
December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the cashflow
statement and the notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditors’
responsibilities for the audit of the financial statements section of our report. We are independent of the
Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements
in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial
statements and our auditors’ report thereon. The Trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.

8

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF EIC AL-MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2022

Our responsibility is to read the other information and, in doing so, consider whether the other information
is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise
appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of
the audit, we have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011
requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the Trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such internal control as the
trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees 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 trustees either intend to liquidate the Charity or to cease operations,
or have no realistic alternative but to do so.

9

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF EIC AL-MASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2022

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance
with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but 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 in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these financial
statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud, is detailed below.

Based on our understanding of the Charity and the industry in which it operates, we identified that the
principal risks of non-compliance with laws and regulations related to the acts by the Charity, which were
contrary to applicable laws and regulations including fraud, and we considered the extent to which non
compliance might have a material effect on the financial statements. We also considered those laws and
regulations that have a direct impact on the preparation of the financial statements such as the Charities Act
2011. We evaluated management’s incentives and opportunities for fraudulent manipulation of the
financial statements (including the risk of override of controls), and determined that the principal risks were
related to inflated income.

Audit procedures performed included: review of the financial statement disclosures to underlying
supporting documentation, enquiries of management and testing of journals and evaluating whether there
was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed non -
compliance with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become aware of it. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through
collusion.

A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description
forms part of our auditor's report.

10

INDEPENDELYT AUDrroRS' REPORT TO THE TRUSTEES OF EIC ALMASJID TRUST FOR THE YEAR ENDED 31 DECEMBER 2022 Use of our report This report is made solely to the Charity's trustees, as a tx)dy, in accordan¢e with Charities Act 2011. Our audit work has been undertaken so thai w¢ might State to the trustees those matt¢rs we are required to slate to them in an auditors, re]x)rt and for no other purpose. To the fullest exlent perniitted by law, we do not accept or assume responsibility lo anyon¢ other ihan the Charity and its trust¢es as a body. for our audit work. for this report, or for the opinions w¢ hav¢ fornled. H4 UHY Haeker YouDg Statutory Auditor Quadrant House 4 Thomas More Square London Elw IYW Date.. 27 October 2023 UHY Hacker Young LLP is eligible to act as an auditor of the Charity by virtue of its eligibility for appointhient as auditor of a company under S¢Ciion 1212 of the Ciympanies Act 2006.

EIC AL-MASJID TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Notes Unrestricted Restricted Total
funds funds funds Total funds
2022 2022 2022 2021
£ £ £ £
Income and endowments from:
Donations and legacies 2 540,456 - 540,456 438,181
Other trading activities 3 15,891 4,570 20,461 5,356
Investments 4 134,340 - 134,340 131,840
________ ________ ________ ________
Total 690,687 4,570 695,257 575,377
________ ________ ________ ________
Expenditure on:
Charitable activities 5 285,122 4,570 289,692 317,248
Others 6 19,657 - 19,657 34,622
________ ________ ________ ________
Total 304,779 4,570 309,349 351,870
________ ________ ________ ________
Net expenditure 385,908 - 385,908 223,507
Other recognised gains:
Net gains on investment properties 11 1,200,000 - 1,200,000 -
Revaluation of fixed assets 10 672,211 - 672,211 -
��������� ��������� ��������� ���������
Net Movement in funds 2,258,119 - 2,258,119 223,507
�������� �������� �������� ��������
Reconciliation of funds
Total funds brought forward 4,207,636 1,487,878 5,695,514 5,472,007
________ ________ ________ ________
Total funds carried forward 6,465,755 1,487,878 7,953,633 5,695,514
======= ======= ======= ======= 
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 AbMASJID TRUST BALANCE SHEET AS AT 31 DECEMBER 2022 Notes 2022 2021 Fixed &ssets Tangible asser8 Inve8tment prO￿ty io 3.133J36 3,6(KJ.(KX) 2,466,316 2,400.000 TO￿ r￿ed 8&sets 6.733536 4.866.316 Current assets Debtors Cash at bank And in halld 12 137.395 1,232.375 130,234 845.609 Total current assets lJ69.770 975.843 Liabilities Creditors: amounts due wAthin one year 13 (149,673) (146.645) Net current assets 1.220.097 829,198 Total a%sets le&$ eurrent Ilablllties 7.953.633 5.695.514 The funds ofthe eharlty: Unrestricted funds Unrestricted revenue accumulated Revaluation reserves 14 14 4,593544 1.872211 4.207.636 6.465.755 4,207,636 Restricted ineome fuDds RestTi¢ted revenue accumulateAI RestrActed ¢?pitsl funds Res(ricted fixed asset funds 14 24222 24.222 14 1.463.656 1.463,656 Totsl charity funds 7,953.633 5,695,514 The finan¢ial statrments were approved by the B0￿d of TrusteA on 27110r2023 and were signed on its beha]f by: Rizwan Sarwar Butt Chairnian 13

EIC AL-MASJID TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

Notes Notes 2022 2021
£ £
Cash flows from operating activities:
Net cash provided by operating activities 16 394,525 235,531
Cash flows from investing activities:
Purchase of property, plant and equipment (9,560) (8,054)
Proceeds from disposal of property, plant and equipment 1,801 -
________ ________
Net cash used in investing activities (7,759) (8,054)
________ ________
Cash flows from financing activities:
Repayments of borrowings - (3,500)
________ ________
Net cash used in financing activities - (3,500)
________ ________
Change in cash and cash equivalents 386,766 223,977
Cash and cash equivalents brought forward 845,609 621,632
________ _______
Cash and cash equivalents carried forward 17 1,232,375 845,609
======= ======= 
14

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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) – (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland (FRS 102) and the Charities 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, except for the
investment property which is held at fair value. 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 2022

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
Fixture and fittings 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.

g) Critical judgements – Valuation of investment property

Investment properties are valued annually at fair value. Fair value is ascertained through a review of
a number of factors and information flows, including market knowledge, recent market movements,
recent sales of similar properties, historical experience and rent levels.

There is an evitable degree of judgement involved and value can only reliably tested ultimately in the
market itself.

2

Donations and legacies
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Donations and collections 436,826 - 436,826 296,751
Funeral facility 103,630 - 103,630 141,430
________ ________ ________ ________
540,456 - 540,456 438,181
======= ======= ======= ======= 
16

EIC AL-MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3 Other trading activities
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Hall and stalls hire 11,024 - 11,024 -
Huffaz collection - 4,570 4,570 3,530
Others 4,867 - 4,867 1,826
________ ________ ________ ________
15,891 4,570 20,461 5,356
======= ======= ======= =======
4 Investment income
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Rent from investment property 134,340 - 134,340 131,840
________ ________ ________ _______
134,340 - 134,340 131,840
======= ======= ======= =======
5 Expenditure on charitable activities
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Direct costs
Provision of funeral facilities 17,811 - 17,811 17,168
Staff costs (including NIC) 184,055 - 184,055 150,752
Temporary staff costs - - - 34,104
Ramadhan expenses 12,005 - 12,005 6,461
Huffaz Hadiya - 4,570 4,570 3,530
Loss on disposal of fixed asset 113 - 113 135
________ ________ ________ ________
213,984 4,570 218,554 212,150
======= ======= ======= ======= 
17

EIC AL-MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5 Expenditure on charitable activities (continued)

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Allocated support costs
Advertising and promotion 1,750 - 1,750 3,188
Premises costs 49,179 - 49,179 43,164
Office expenses 2,413 - 2,413 2,161
Finance payments 756 - 756 1,518
Sundry expenses 4,403 - 4,403 5,433
Depreciation 12,637 - 12,637 15,175
Amount not recoverable* - - - 34,459
________ ________ ________ ________
71,138 - 71,138 105,098
======= ======= ======= =======
Total costs 285,122 4,570 289,692 317,248
======= ======= ======= =======

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

6 Governance costs

6 Governance costs
2022 2021
£ £
Auditors’ remuneration 8,450 8,870
Legal and professional fees 11,207 25,752
________ ________
19,657 34,622
======= =======
7 Staff costs 2022 2021
£ £
Wages and salaries 174,582 144,388
Social security costs 8,760 5,652
Pension costs 713 713
________ ________
184,055 150,753
======= ======= 
No employees received remuneration in excess of £60,000 during the year. The average number of
employees during the year was 9 (2021: 9).

18

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

EIC AL-MASJID TRUST

8 Transactions with Trustees

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 (Refer to note 12). Mr
Mushfique is a trustee of Ebrahim Community College.

One of the Charity’s Trustees, Mohammad Azizul Hoque is also a Trustee of Aid International UK
which provides educational services using the Charity’s premises and voluntarily donated £11,000
(2021: £11,000) in the year. Both Mohammad Azizul Hoque and Mohammad Shahidul Hoque (also
one of the Charity’s Trustees) are also employees of Aid International UK.

During the period, the trustees made donations to EIC AL-MASJID Trust totalling £0 (2021: £1,000)

No other related party transactions took place during the period.

9 Auditors’ remuneration

The remuneration constituted an audit fee of £8,450 (2021: £8,870).

10 Tangible fixed assets

Tangible fixed assets
Freehold Fixture,
land and Motor Fittings and
buildings vehicles Equipment Total
£ £ £ £
Cost
At 1 January 2022 2,382,789 26,025 249,323 2,658,137
Additions - 4,200 5,360 9,560
Disposals - (10,750) - (10,750)
Revaluation 672,211 - - 672,211
________ ________ ________ ________
At 31 December 2022 3,055,000 19,475 254,683 3,329,158
======= ======= ======= =======
Depreciation
At 1 January 2022 - 23,251 168,571 191,822
Charge for the year - 390 12,247 12,637
Eliminated in respect of disposals - (8,837) - (8,837)
________ ________ ________ ________
At 31 December 2022 - 14,804 180,818 195,622
======= ======= ======= =======
Net book value
At December 2022 3,055,000 4,671 73,865 3,133,536
======= ======= ======= =======
At December 2021 2,382,789 2,774 80,753 2,466,316
======= ======= ======= ======= 
The historical cost of the freehold land and buildings was £2,382,789 (2021: £2,382,789).

19

EIC AL-MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11 Investment property

£
Fair value at 1 January 2022 2,400,000
Revaluation gain 1,200,000
------------
Fair value at 31 December 2022 3,600,000
======= 
The Trustees assess the fair value of the investment properties comparing the current value to the
market value at the period end, taking into consideration a report provided by an external valuer.
Any changes in the fair value are recognised in the SOFA.

The historical cost of the property was £2,400,000 (2021: £2,400,000).

12 Debtors

2022 2021
£ £
Other debtors 94,895 96,234
Ebrahim Community College Loan (Charity No.1108141) 12,500 14,000
Madni Trust Loan (Charity No.1022471) 20,000 20,000
Sopwell Community Loan (Charity No. 1156299) 10,000
________ ________
137,395 130,234
======= =======
Creditors: amounts falling due within one year
2022 2021
£ £
Qarze Hasna loans 30,500 30,500
Accrued expenses 7,171 6,523
Other taxes and social security 12,002 9,622
Other creditors 100,000 100,000
________ ________
149,673 146,645
======= =======

13 Creditors: amounts falling due within one year 

20

EIC AL-MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14 Movement in funds
At Incoming Resources At 31
1 January Resources Expended December
2022 2022
£ £ £ £
Unrestricted funds
General funds 4,207,636 695,257 (309,349) 4,593,544
Revaluation reserve - 1,872,211 - 1,872,211
________ ________ ________ ________
4,207,636 2,567,468 (309,349) 6,465,755
======= ======= ======= =======
Restricted revenue funds
Funeral service 19,057 - - 19,057
Children’s hospice 5,165 - - 5,165
________ ________ ________ ________
24,222 - - 24,222
======= ======= ======= =======
Restricted fixed assets funds
Capital funds 1,463,656 - - 1,463,656
======= ======= ======= =======
Total funds 5,695,514 2,567,468 (309,349) 7,953,633
======= ======= ======= =======
15 Analysis of net assets by funds
Unrestricted Restricted Total
funds funds funds
2022 2022 2022
£ £ £
Fixed assets 5,269,880 1,463,656 6,733,536
Current assets 1,345,548 24,222 1,369,770
Creditors amounts falling due within one year (149,675)
-		 (149,673)
________ ________ ________
6,465,753 1,487,878 7,953,633
======= ======= ======= 
21

EIC AL-MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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

2022 2021
£ £
Net movement in funds 2,258,119 223,507
Less: Revaluation gain (1,872,211) -
Add back: Depreciation charge 12,637 15,175
Add back: Loss on disposal of fixed assets 113 135
Add back: Amount not recoverable - 34,459
Increase in debtors (7,161) (32,904)
Increase/ (Decrease) in creditors 3,028 (4,841)
________ ________
Net cash provided by operating activities 394,525 235,531
======= =======
17 Analysis of cash and cash equivalents
2022 2021
£ £
Cash in hand 1,232,375 845,609
________ ________
Total cash and cash equivalents 1,232,375 845,609
======= ======= 
22

EIC AL-MASJID TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

18 Comparative Statement of Financial Activities

Unrestricted Restricted Total
funds funds funds
2021 2021 2021
£ £ £
Income and endowments from:
Donations and legacies 438,181 - 438,181
Other trading activities 1,826 3,530 5,356
Investments 131,840 - 131,840
________ ________ ________
Total 571,847 3,530 575,377
________ ________ ________
Expenditure on:
Charitable activities 313,718 3,530 317,248
Others 34,622 - 34,622
________ ________ ________
Total 348,340 3,530 351,870
________ ________ ________
Net movement in funds 223,507 - 223,507
Reconciliation of funds
Total funds brought forward 3,984,129 1,487,878 5,472,007
________ ________ ________
Total funds carried forward 4,207,636 1,487,878 5,695,514
======= ======= ======= 
23