## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **Charity Number: 1126121** _Azhary Chartered Accountants 85 Great Portland Street, London W1W 7LT_ **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** ## **CONTENTS** |Trustees' report
Statement of trustees' responsibilities
Independent examiner's report
Statement of financial activities
Statement of net assets and liabilities
Notes to the financial statements|Page No.| |---|---| ||
1 & 2
3
4
5
6
7 & 8| ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr Amran A Chowdhury (President)| |---|---| ||Mr Yameem R H Deedar (Secretary)| ||Mr Anwar Hussain (Treasurer)| |**Address**|Rickford| ||Worplesdon| ||Guildford| ||GU3 3PH| |**Bankers**|Barclays Bank plc| ||Guildford Friary Branch| ||Guildford| ||GU1 4AG| |**Accountants**|Azhary Chartered Accountants| ||85 Great Portland Street| ||London| ||W1W 7LT| ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their annual report along with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on Note 1 to the accounts and comply with the charity's trust deed, the Charities Act 1993 and the Statement of Recommended Practice: Accounting and Reporting by Charities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## GOVERNING DOCUMENT The charity was constituted as a Charitable Trust under English Law on 11 September 2005 and registered with the Charity Commission on 1 October 2008, Charity Number 1126121. ## TRUSTEES The first trustees are entitled to hold office for life. When new trustees are appointed they are given an introduction to the work of the trust and provided with the information they need to fulfil their role, which includes information about the role of the trustees and Charity Law. ## STAFF The trust does not have any employees and its activities are managed by the trustees. ## RISK MANAGEMENT All activities of the charity are subject to a risk review and the risks identified are ranked in terms of their likely impact and likelihood of occurring. Major risks include those which will have a significant impact on operation performance; on the chances of meeting the expectations of supporters; or more generally on the achievement of our charitable objectives. The trustees review these risks on an ongoing basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. ## **OBJECTIVES AND ACTIVITIES** ## OBJECTIVES The objects of the charity is to advance the Islamic religion for the benefit of the public in accordance with the true religious guidelines from the Holy Quran and Hadith plus other objectives set out in the trust deeds, primarily: - **♦** to advance education, in particular but not exclusively, to the Bangladeshi and Muslim children in the area. - **♦** to promote any other charitable activities for the benefit of the Islamic faith in the community The charity achieves its charitable objects by conducting charitable activities or making grants after having considered that the specific purpose of the charitable requests made in writing are in line with its objects. ## FINANCIAL REVIEW AND RESULTS FOR THE YEAR The financial results of the activities of the charity are shown on the Statement of Financial Activities set out on page 5. During the year, the charity received donations of £50,962 from general public. ## RESERVES POLICY The trustees endeavour to maintain sufficient reserves within the charity to fund its activities for the following 12 months. ## FUTURE DEVELOPMENTS The charity will continue with the ongoing support for the Muslim community in the Guildford area. The charity purchased a freehold property (former Church building) in Guildford and utilising the facilities to fullfill the charity's objectives. The charity will continue making charitable donations, on an occasional basis to worthy causes. ## ACKNOWLEDGEMENT The charity gratefully acknowledges the significant contribution of all those involved with its activities and the generosity of its donors. ## TAXATION The Muslim Education And Cultural Association (Guildford) is a charity and is recognised as such by the HM Revenue & Customs for taxation purposes. As a result, there is no liability to taxation on any of its income. ## ACCOUNTANTS Azhary Chartered Accountants were reappointed as the Accountants for the charity and expressed their willingness to continue in that capacity. On behalf of the trustees …………………………………….. ## **Mr A Chowdhury (President)** 31 January 2025 ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **STATEMENTS OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The law applicable to charities in England and Wales requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing these financial statements, the trustees should follow best practice and: - **♦** select suitable accounting policies and them apply them consistently; - **♦** observe the methods and principles in the charity's SORP; - **♦** make judgements and estimates that are reasonable and prudent; - **♦** state whether applicable standards and statement of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and - **♦** prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities as well as exercising financial controls. ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF** ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** We report on the accounts of the charity for the year ended 31 March 2024, which are set out on pages 5 to 8. ## _**Respective responsibilities of the trustees and examiner**_ The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility to: - **♦** examine the accounts under section 43 of the 1993 Act; - **♦** to follow the procedures laid down in the General Directions given by the Charity Commissioners under section 43(7)(b) of the 1993 Act; and - **♦** to state whether particular matters have come to my attention. ## _**Basis of independent examiner's report**_ My examinations were carried out in accordance with the General Directions given by the Charity Commissioner. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below. ## _**Independent examiner's statement**_ In connection with my examination, no matter has come to my attention: - **♦** which gives me reasonable cause to believe that, in any material respect, the requirements: (a) to keep accounting records in accordance with section 41 of the 1993 Act; and (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 Act have not been met; or - **♦** to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **Z Anhar** _FCA_ 31 January 2025 Azhary Chartered Accountants 85 Great Portland Street London W1W 7LT ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**Notes**
INCOMING RESOURCES
Voluntary income
**2**
Rental income
Gain on disposal of freehold property
**Total incoming resources**
RESOURCES EXPENDED
Charitable activity costs
**3**
Governance costs
**4**
**Total resources expended**
**Net incoming resources transferred to accumulated funds**
Accumulated funds brought forward
Accumulated funds carried forward|**2024**
**2023**
**£**
**£**
50,962
65,933
-
-
-
-
50,962
65,933
23,150
35,929
995
1,632
24,145
37,561
26,817
28,372
617,772
589,400
**644,589**
**617,772**
**Unrestricted Fund**| |---|---| The notes on pages 7 and 8 form part of these financial statements. ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **STATEMENT OF NET ASSETS AND LIABILITIES** ## **AS AT 31 MARCH 2024** |FIXED ASSETS
Freehold property
CURRENT ASSETS
Cash at bank and in hand
Other debtors
CREDITORS: Amounts falling due within one year
Other loans - Karz-e-Hasana
Rent deposit held
**Net assets**
REPRESENTED BY:
**Unrestricted accumulated funds**|**£**
**£**
**£**
**£**
611,646
611,646
46,943
20,126
-
-
46,943
20,126
(14,000)
(14,000)
-
-
(14,000)
(14,000)
**644,589**
**617,772**
**644,589**
**617,772**
**2024**
**2023**|**£**
**£**
**£**
**£**
611,646
611,646
46,943
20,126
-
-
46,943
20,126
(14,000)
(14,000)
-
-
(14,000)
(14,000)
**644,589**
**617,772**
**644,589**
**617,772**
**2024**
**2023**| |---|---|---| |||| |||**617,772**| |||**617,772**| Approved by the trustees on 31 January 2025 and signed on their behalf. …………………………… …………………………… …………………………… **Mr A Chowdhury (President) Mr Y Deedar (Secretary) Mr A Hussain (Treasurer)** The notes on pages 7 and 8 form part of these financial statements. **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies** The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements. ## _**Basis of preparation of accounts**_ The financial statements have been prepared under the historical cost convection and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) issued in March 2006 and the Charities Act 1993. ## _**Fund accounting**_ Unrestricted funds are generally funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. ## _**Incoming resources**_ Voluntary income, including donations and grants that provide core funding or are of a general nature, are recognised where their entitlement, certainty of receipt and the amount can be measured with sufficient reliability. ## _**Resources expended**_ Expenditure is recognised on an accruals basis. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the period. Charitable activity costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources eg allocating management and human resources costs by the number of staff, and finance & IT costs by work done. Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements. |**2**
**3**|**Voluntary income**
Donations received
**Charitable activity costs**
Fundraising cost
Premises cost
Donations made
Loan interest|**2024**
**£**
50,962
**2024**
**£**
16,620
4,893
1,637
-
23,150|**2023**
**£**
65,933| |---|---|---|---| ||||**2023**
**£**
7,400
28,529
-
-| ||||35,929| ## **MUSLIM EDUCATION AND CULTURAL ASSOCIATION (GUILDFORD)** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**4**|**2024**
**2023**
**Governance costs**
**£**
**£**
Legal and professional fees
995
1,632| |---|---| ## **5 Staff costs and trustees' remuneration** The charity does not have any employees other than the trustees who receive no remuneration. The trustees were not reimbursed for any of their expenses in the year. ## **6 Capital and financial commitments** There were no capital or financial commitments as at 31 March 2024. ## **7 Contingent liabilities** There were no contingent liabilities of the charity as at 31 March 2024.