**REGISTERED CHARITY NUMBER: 1122605**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
Bracknell Islamic Cultural Socity
Three Leaves LTD Chartered Certified Accountants Rockware Business Centre Office 16 5 Rockware Avenue Greenford Middlesex UB6 0AA
Bracknell Islamic Cultural Socity
## Contents of the Financial Statements for the Year Ended 31 March 2021
|||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||
Bracknell Islamic Cultural Socity
## Report of the Trustees
## for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. 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**
## **Objectives and aims**
The charity aims to develop a place of worship for Muslims living in and around Bracknell. The charity also organises and participates in community events to promote equality, diversity and good race relations.
## **Public benefit**
BICS meets the Charity Commissions public benefit criteria under both the advancement of education and the advancement of citizenship or community development objectives. The trustees have complied with section 17 of Charities Act 2011 with regards to public benefit guidance issued by the Charity Commission.
## **ACHIEVEMENT AND PERFORMANCE**
The charity has been organising Friday congregational prayers in addition to biannual Eid gatherings.
## **FINANCIAL REVIEW Reserves policy**
There is currently no reserves policy.
The Charity has managed to bring in a stable stream of donations and has kept costs at a minimum. The charity also achieved significant results in the most cost effective ways possible which is reflected by the retained funds by the charity. The funds can be used to start new charitable projects.
## **FUTURE PLANS**
BICS is a well established charity organisation supporting almost 400 Muslim families across Bracknell. Our future aim include:
- Continue to diversify funding streams, so that core organisational costs are met from a range or sources
- Involving local residents and groups in issues and developments likely to affect quality of life in the local area
- Developing new projects and initiatives that meet the current and emerging needs of the Muslim Community
- Strengthening internal governance structures and broadening the role and involvement of trustees
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a constitution adopted on 8th August 2007, and constitutes an unincorporated charity.
## **Organisational structure and management**
Bracknell Islamic Cultural Society (known as BICS) was established in 2008 as unincorporated charity. The charity currently has 7 trustees who are elected for three years term from amongst the voting member of BICS. The trustees review and oversee the work of the organisation at regular Board meetings and the charity has no employees. Every trustee resigns after three years and it is open for them to stand for re-election after this period.
All trustees give their time voluntary and receive no remuneration or other benefits.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1122605
Page 1
Bracknell Islamic Cultural Socity
## Report of the Trustees
## for the Year Ended 31 March 2021
## **Principal address**
Unit C Waterside Park Bracknell RG12 1RB
## **Trustees**
Mr B Kuko-iyii Chairman Mr Y Djouamaa Deputy Chairman Mr M S Aripin Treasurer Mr R Butt Funds officer (resigned 18.7.20) Mr A Sanneh Secretary Mr E I Walele Dr A A Siddiqui Mr A Imtiaz (resigned 18.7.20) Mr S Sayed (appointed 18.7.20)
## **Independent Examiner**
Imtiaz Khan FCCA Three Leaves LTD Chartered Certified Accountants Rockware Business Centre Office 16 5 Rockware Avenue Greenford Middlesex UB6 0AA
Approved by order of the board of trustees on 30 January 2022 and signed on its behalf by:
Mr B Kuko-iyii - Trustee
Page 2
Independent Examiner's Report to the Trustees of Bracknell Islamic Cultural Socity
## **Independent examiner's report to the trustees of Bracknell Islamic Cultural Socity**
I report to the charity trustees on my examination of the accounts of Bracknell Islamic Cultural Socity (the Trust) for the year ended 31 March 2021.
## **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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.
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.
Imtiaz Khan FCCA Three Leaves LTD Chartered Certified Accountants Rockware Business Centre Office 16 5 Rockware Avenue Greenford Middlesex UB6 0AA
Date: .............................................
Page 3
Bracknell Islamic Cultural Socity
## Statement of Financial Activities
## for the Year Ended 31 March 2021
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
356,871
**Charitable activities**
Charitable activities
10,000
Investment income
2
-
**Total**
366,871
**EXPENDITURE ON**
**Charitable activities**
3
Charitable activities
32,188
Other
39,015
**Total**
71,203
**NET INCOME**
295,668
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
703,435
**TOTAL FUNDS CARRIED FORWARD**
999,103|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-|31.3.21
Total
funds
£
356,871
10,000
-
366,871
32,188
39,015
71,203
295,668
703,435
999,103|31.3.20
Total
funds
£
240,580
-
2|
|---|---|---|---|
||||240,582
23,453
3,108|
||||26,561|
||||214,021
489,414|
||||703,435|
The notes form part of these financial statements
Page 4
BTarkn¢ll l$lami
Itural Socit
Balance Sheei
31 March 2021
31.3.21
31.3.20
No
FIXED ASSETS
Tangible assets
957.960
6,350
CURRENT ASSETS
D¢biors
C&sh al bartk
4,172
138,931
1.750
696,295
143,103
698,045
CREDITORS
Amounis falling wTrthin one year
(101,9601
(960)
NET CURRENT ASSETS
41.143
697.085
TOTAL ASSETS LESS CURRENT
LIABILITJES
999.103
703,435
r4ET ASSETS
999.103
703.435
FUNDS
Unrestricted fimds
io
999,103
703,435
TOTAL FUPIDS
999,103
703,435
The financial sts*ments were approved by the Board of TTys1¢¢5 and authorised for issue on 30 January 2022 and tre
signed on its beha]f bN'.
Mr B Kuko-i)'Ii - Trustee
Mr M S Aripin- TnLStee
MT A SaHn¢h- Trus¢e
The notes form pfjrt of these fiTWtcial statements
Page 5
Bracknell Islamic Cultural Socity
Notes to the Financial Statements for the Year Ended 31 March 2021
## **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.
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.
## **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.
## **Governance costs**
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to accountancy fees together with other overhead costs.
## **Tangible fixed assets**
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The Charity adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefit to the Charity. The carrying amount of the replaced part is derecognised. Repairs and maintenance charged to the Statement of comprehensive income during the year in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Plant and machinery -33% of cost
The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
No depreciation has been charged for the freehold property.
continued...
Page 6
Bracknell Islamic Cultural Socity Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES - continued**
## **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.
## **Short term debtors and creditors**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Financial Activities in ‘administrative expenses’.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and in hand.
## **Offsetting**
Financial assets and liabilities are offset and the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Charitable activities**
Cost of charitable activities comprises all overheads and governance costs excluding finance charges.
## **2. INVESTMENT INCOME**
|**2.**|**INVESTMENT INCOME**||||
|---|---|---|---|---|
|||31.3.21|31.3.20||
|||£|£||
||Deposit account interest|-||2|
|**3.**|**CHARITABLE ACTIVITIES COSTS**||||
||||Support||
||||costs|(see|
||||note|4)|
||||£||
||Charitable activities||32,188||
continued...
Page 7
Bracknell Islamic Cultural Socity
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **4. SUPPORT COSTS**
|**SUPPORT COSTS**|||||
|---|---|---|---|---|
||||Governance||
||Management|Finance|costs|Totals|
||£|£|£|£|
|Charitable activities|19,936|643|11,609|32,188|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **6. TANGIBLE FIXED ASSETS**
|Freehold
property
£
**COST**
At 1 April 2020
5,472
Additions
951,900
At 31 March 2021
957,372
**DEPRECIATION**
At 1 April 2020
-
Charge for year
-
At 31 March 2021
-
**NET BOOK VALUE**
At 31 March 2021
957,372
At 31 March 2020
5,472
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments and accrued income|Plant and
machinery
£
1,310
-
1,310
432
290
722
588
878
31.3.21
£
2,550
1,622
4,172|Totals
£
6,782
951,900|Totals
£
6,782
951,900|
|---|---|---|---|
|||958,682||
|||432
290||
|||722||
|||957,960||
|||6,350||
|||31.3.20
£
1,750
-
1,750||
||||1,750|
continued...
Page 8
Bracknell Islamic Cultural Socity
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Qarz-e-hasna
Accrued expenses
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
fund
£
Fixed assets
957,960
Current assets
143,103
Current liabilities
(101,960)
999,103
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
At 1.4.20
£
703,435
703,435
Incoming
resources
£
366,871
366,871
At 1.4.19
£
489,414
489,414|31.3.21
31.3.20
£
£
101,000
-
960
960
101,960
960
31.3.21
31.3.20
Total
Total
funds
funds
£
£
957,960
6,350
143,103
698,045
(101,960)
(960)
999,103
703,435
Net
movement
At
in funds
31.3.21
£
£
295,668
999,103
295,668
999,103
Resources
Movement
expended
in funds
£
£
(71,203)
295,668
(71,203)
295,668
Net
movement
At
in funds
31.3.20
£
£
214,021
703,435
214,021
703,435|
|---|---|---|
**9. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **10. MOVEMENT IN FUNDS**
continued...
Page 9
Bracknell Islamic Cultural Socity
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
240,582
240,582|Resources
Movement
expended
in funds
£
£
(26,561)
214,021
(26,561)
214,021|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.19
£
489,414
489,414|Net
movement
in funds
£
509,689
509,689|At
31.3.21
£
999,103|
|---|---|---|---|
||||999,103|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
607,453
607,453|Resources
Movement
expended
in funds
£
£
(97,764)
509,689
(97,764)
509,689|
|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021.
Page 10
Bracknell Islamic Cultural Socity
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 March 2021|||
||31.3.21|31.3.20|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|330,201|236,042|
|Gift aid|26,670|4,538|
||356,871|240,580|
|**Investment income**|||
|Deposit account interest|-|2|
|**Charitable activities**|||
|Grants|10,000|-|
|**Total incoming resources**|366,871|240,582|
|**EXPENDITURE**|||
|**Other**|||
|FR - Events costs|4,405|3,108|
|FR - Online platform costs|5,259|-|
|FR - Advertising & promotes|29,351|-|
||39,015|3,108|
|**Support costs**|||
|**Management**|||
|Rent payable|8,664|16,392|
|Rates and water|347|351|
|Insurance|176|116|
|Light and heat|385|1,299|
|Telephone|610|130|
|Printing, postage & stationery|81|-|
|Travel costs|47|93|
|Donations|9,336|1,950|
|Depreciation of tangible and heritage assets|290|432|
||19,936|20,763|
|**Finance**|||
|Bank charges|643|1,730|
|**Governance costs**|||
|Legal & professional costs|10,649|-|
|Accountancy fees|960|960|
||11,609|960|
|Total resources expended|71,203|26,561|
|**Net income**|295,668|214,021|
This page does not form part of the statutory financial statements
Page 11