**REGISTERED CHARITY NUMBER: 1122605**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2024**
**for**
**Bracknell Islamic Cultural Socity**
Three Leaves Chartered Certified Accountants 2 Manor House Lane Datchet Slough Berkshire SL3 9EB
**Bracknell Islamic Cultural Socity**
## **Contents of the Financial Statements for the Year Ended 31 March 2024**
|||**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 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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
## **Principal address**
Unit C Waterside Park Bracknell RG12 1RB
Page 1
**Bracknell Islamic Cultural Socity**
**Report of the Trustees for the Year Ended 31 March 2024**
## **Trustees**
Mr B Kuko-iyii Chairman Mr Y Djouamaa Deputy Chairman Mr M S Aripin Treasurer Mr A Sanneh Secretary Mr E I Walele Dr A A Siddiqui Mr S Sayed
Trustees resigned since year end;
Mr. Y Djouamaa Mr M S Aripin
## **Independent Examiner**
Imtiaz Khan Three Leaves Chartered Certified Accountants 2 Manor House Lane Datchet Slough Berkshire SL3 9EB
30/01/2025
Approved by order of the board of trustees on ............................................. 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 2024.
## **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**
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
Three Leaves Chartered Certified Accountants 2 Manor House Lane Datchet Slough Berkshire SL3 9EB
30/01/2025 Date: .............................................
Page 3
**Bracknell Islamic Cultural Socity**
## **Statement of Financial Activities**
## **for the Year Ended 31 March 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
Raising funds
2
**Charitable activities**
3
Charitable activities
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
200,907
41,442
99,372
43,610
184,424
16,483
1,139,858
1,156,341|Restricted
funds
£
-
-
-
-
-
-
-
-|2024
Total
funds
£
200,907
41,442
99,372
43,610
184,424
16,483
1,139,858
1,156,341|2023
Total
funds
£
170,304|
|---|---|---|---|---|
|||||20,848
69,484
25,650|
|||||115,982|
|||||54,322
1,085,536|
|||||1,139,858|
The notes form part of these financial statements
Page 4
## **Bracknell Islamic Cultural Socity**
## **Balance Sheet**
||**Balance Sheet**|||
|---|---|---|---|
||**31 March 2024**|||
|||2024|2023|
||Notes|£|£|
|**FIXED ASSETS**||||
|Tangible assets|6|1,080,623|1,090,166|
|**CURRENT ASSETS**||||
|Debtors|7|4,140|4,140|
|Cash at bank||73,537|47,511|
|||77,677|51,651|
|**CREDITORS**||||
|Amounts falling due within one year|8|(1,959)|(1,959)|
|**NET CURRENT ASSETS**||75,718|49,692|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||1,156,341|1,139,858|
|**NET ASSETS**||1,156,341|1,139,858|
|**FUNDS**|10|||
|Unrestricted funds||1,156,341|1,139,858|
|**TOTAL FUNDS**||1,156,341|1,139,858|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. 30/01/2025 and were signed on its behalf by:
............................................. Mr B Kuko-iyii - Trustee
............................................. Mr A Sanneh - Trustee ............................................. Dr A A Siddiqui - Trustee
The notes form part of these financial statements
Page 5
**Bracknell Islamic Cultural Socity**
## **Notes to the Financial Statements**
## **for the Year Ended 31 March 2024**
## **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.
## **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.
continued...
Page 6
**Bracknell Islamic Cultural Socity**
**Notes to the Financial Statements - continued**
**for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
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. RAISING FUNDS**
## **Investment management costs**
## **3.**
## **4.**
|Property repairs
**CHARITABLE ACTIVITIES COSTS**|2024
£
41,442|2023
£
20,848|
|---|---|---|
||||
|Charitable activities
**SUPPORT COSTS**
Management
£
Charitable activities
81,005|Support
Direct
costs (see
Costs
note 4)
£
£
15,998
83,374
Governance
Finance
costs
£
£
1,148
1,221|Totals
£
99,372|
|---|---|---|
|||Totals
£
83,374|
continued...
Page 7
**Bracknell Islamic Cultural Socity**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2024**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **TANGIBLE FIXED ASSETS**
## **6.**
|**COST**
At 1 April 2023 and 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Qarz-e-hasna
Accrued expenses
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
fund
£
Fixed assets
1,080,623
Current assets
77,677
Current liabilities
(1,959)
1,156,341|Freehold
property
£
1,080,623
-
-
-
1,080,623
1,080,623
Restricted
funds
£
-
-
-
-|Plant and
machinery
£
29,706
20,163
9,543
29,706
-
9,543
2024
£
2,150
1,990
4,140
2024
£
999
960
1,959
2024
Total
funds
£
1,080,623
77,677
(1,959)
1,156,341|Totals
£
1,110,329|Totals
£
1,110,329|
|---|---|---|---|---|
||||20,163
9,543||
||||29,706||
||||1,080,623||
||||1,090,166||
||||2023
£
2,150
1,990
4,140
2023
£
999
960
1,959
2023
Total
funds
£
1,090,166
51,651
(1,959)|2023
£
2,150
1,990|
|||||4,140|
|||||2023
£
999
960|
|||||1,959|
||||1,139,858||
## **7.**
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **9. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
continued...
Page 8
**Bracknell Islamic Cultural Socity**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2024**
## **10. MOVEMENT IN FUNDS**
|At 1.4.23
£
**Unrestricted funds**
General fund
1,139,858
**TOTAL FUNDS**
1,139,858
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
200,907
**TOTAL FUNDS**
200,907
**Comparatives for movement in funds**
At 1.4.22
£
**Unrestricted funds**
General fund
1,085,536
**TOTAL FUNDS**
1,085,536
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
170,304
**TOTAL FUNDS**
170,304|Net
movement
in funds
£
16,483
16,483
Resources
expended
£
(184,424)
(184,424)
Net
movement
in funds
£
54,322
54,322
Resources
expended
£
(115,982)
(115,982)|At
31.3.24
£
1,156,341|At
31.3.24
£
1,156,341|
|---|---|---|---|
|||1,156,341||
|||Movement
in funds
£
16,483
16,483
At
31.3.23
£
1,139,858||
|||1,139,858||
|||Movement
in funds
£
54,322
54,322||
||||54,322|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.22
£
1,085,536
1,085,536|Net
movement
in funds
£
70,805
70,805|At
31.3.24
£
1,156,341|
|---|---|---|---|
||||1,156,341|
continued...
Page 9
## **Bracknell Islamic Cultural Socity**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2024**
## **10. MOVEMENT IN FUNDS - continued**
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
£
371,211
371,211|Resources
Movement
expended
in funds
£
£
(300,406)
70,805
(300,406)
70,805|
|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
Page 10
## **Bracknell Islamic Cultural Socity**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Property repairs
**Charitable activities**
Madrassa expenses
**Other**
FR - Events costs
FR - Advertising & promotes
**Support costs**
**Management**
Rent payable
Rates and water
Insurance
Light and heat
Telephone & IT costs
Printing, postage & stationery
Travel costs
Sundries
Donations
Plant and machinery
**Finance**
Bank charges
**Governance costs**
Legal & professional costs
Accountancy fees
Total resources expended
**Net income**|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2024**|2024
£
190,704
10,203
200,907
200,907
41,442
15,998
42,268
1,342
43,610
3,009
2,255
1,990
16,494
1,841
3,352
1,129
1,821
39,571
9,543
81,005
1,148
261
960
1,221
184,424
16,483|2023
£
167,613
2,691|
|---|---|---|---|
|||||
||||170,304|
||||170,304
20,848
-
24,799
851|
||||25,650
8,306
116
2,313
12,106
1,935
1,920
1,124
1,249
27,046
9,803|
||||65,918
1,652
954
960|
||||1,914|
||||115,982|
||||54,322|
This page does not form part of the statutory financial statements
Page 11