**Charity number: 1126949** **Milton Keynes Islamic and Cultural Association** **Trustees' report and financial statements** **for the period ended 31 October 2020** ## **Milton Keynes Islamic and Cultural Association** ## **Contents** ||**Page**| |---|---| |Legal and administrative information|**1**| |Trustees report|**2 - 3**| |Independent examiners' report|**4**| |Statement of financial activities|**5**| |Balance sheet|**6**| |Notes to the financial statements|**7 - 10**| ## **Milton Keynes Islamic and Cultural Association** ## **Legal and administrative information** ## **Charity number** 1126949 **Business address** Al-Rawdha 401 South Row, Central Milton Keynes MK9 2PG **Registered office** 7 Weybourne Road Broughton Milton Keynes MK10 9ND **Trustees** Mr Cabdixakim Maxamud Dhaqane Mr Ibrahim Abdiqadir Mr Ahmed Sheikh Mr Mohamed Wadad Mr Farhaan Muhumed Awas ## **Accountants** RUS Chartered Accountants 1190a-1192 Stratford Road Hall Green Birmingham B28 8AB **Page 1** ## **Milton Keynes Islamic and Cultural Association** ## **Report of the trustees for the period ended 31 October 2020** The trustees present their report and the financial statements for the period ended 31 October 2020. The trustees who served during the period and up to the date of this report are set out on page 1. ## **Structure, governance and management** ## _Governing Document_ The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. ## _Organisational Structure_ The Charity has a management committee who has overall control and responsibility for policy and major decision making and all members of the committee are trustees. Dad to day management and responsibility for implenting policies is carried out by the trustees on a voluntary basis. Membership of committee is open to all individuals over 18 years of age who are approved by the trustees. The trustees must accept applications for membership unless they consider that it would be in the best interets of the charity to refuse the application. ## _Risk Management_ The trustess have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **Objectives and activities** ## _Objectives and aims_ The principle objectives of the charity are as follows: The advancement of the Islamic religion in Milton Keynes and in particular the provision of facilities for a masjid, ceremonies, Muslim festivals and madrassa; The advancement of education of persons of the Muslim faith resident in Milton Keynes; To provide and assist in the provision of facilities for prayer, recreation and leisure time occupation of members of the muslim community in the interest of social welfare and with the objective of improving their condition of life: and; Such other charitable purposes to benefit the Muslims in Milton Keynes area and the wider Muslim community as their trustees in their absolute discretion think fit. ## _Volunteers_ The Charity relies on the unpaid work of the trustees to further it's objectives. ## **Achievements and performance** ## _Fundraising activities_ ## **Financial review** ## _Financial Performance_ The incoming resources were £31,627 for the year ended 31st October 2020 and these were lower than last year's (£58,405). The outgoing resources totalled £23,655 compared to last year's (£35,234). **Page 2** Re￿rt of the truste lor the ended 31 Iktober 21120 St3tem¢nt oftru5tet5' ff4msil)llilie4 The trustees ar¢ r¢S￿￿$1b]e foi P￿patIng the Ttustres. A0￿￿*1 Rep)Ll a¥¥J ts financi21 Sf*rr*nts ITL ae¢ordatre witb applicable law and [Mi￿d Kingdom A¢c¢)utht)g Stsndanb (United Kingdom Genernlly A¢cepted AccountirLB Praeticel. taw applicablc to charitie5 Engla￿1 and Waks Ttqutre5 the t￿￿ten*ible for g•fegVtrdi￿8 the %bets' OE the cknity #nd for lJkn8 r¢&W￿b￿ st¥> tht F*¢vrotion arwj detectiQD of ¥Jxd other On behalf of board MrAhmed Sh￿￿￿ Date: Mllton Keynos Islamic and Cultural A&wciation Independent examiner's report to the trustees on the unaudited fuwieial StateD￿lts ofMilts•n Keynes Tslamie and Cultural A&sociatio Iryort ott the accollnts of Milton Keynes 1slaTDiC and ASW1￿ for the ended 31 iknber2020 set o on pages 2 to 10. As the ckniWs trusrees you are restM)nsible for thc prerAration of the aClXM]nts, you ¢oosider that the audit requirell￿t of Section 43(21 of the Charltses ACL 1993 Ilhe knl. a8 anrnded by 5eLtioo 28 of Charities Act 21X)6 d(%5 not apply attd that an indyndeDt eXaK]i￿tiOll IS lle*￿ Ii is my I￿[￿11￿ty to examine ￿ acrA)unts llllder section 43131(al of the A¢¥ as amended. to follow pr(Kzdwu laid th)wn in the GeDeral DirectioLs giveD by the Chartty CornD￿n ￿￿1¢r sediorl 4317Mb} of the ALt a5 all￿ded. oAdto Particu￿ rnat*rs have coll* to my attention. Bgsls otindependent examlner's slatement ¢xallJis]atson Includes a rcTriew of thc accoullling trKonis kepl by the chariry and a CoThp￿lSOn of the a¢¢ouots Pfes¢rÈtrd witb those xe¢ords. l( also inchmles co￿51delation of it¢ms or disclosures in ￿ accoullts, attd s¢eking evidence that would be rquired in aD audit and cotLWtty uo QPiDiOtt is given &q to vtsher the accou￿ Tndependent exam6lleT'S stst¢mart to keep proper accounting tecords ill a¢¢otht)ce with stttion 41 of the ACL. and to prepare accounts wthirb a¢¢ord with the accounting rttords ar￿ to comply with the x¢ountiDg r4uirements of tbe Act {iil io which, in my op1rri￿ 4tr¢tttion should be drawn in order to enabk a properuDdersrandxDg of the aCCOUDts to I reacTr￿. CharteiedA(countaDts Mr Samar FCA ICAEW 1190a-1192 Strarford Road Hall Gre¢ Birmingham 1190A_1194 Stratford Road Bimiingham 828 8AB +44 (0) 121 777 1200 Inf oQrus.co.uk www.rus.ro.uk B28 8AB ## **Milton Keynes Islamic and Cultural Association** ## **Statement of financial activities** ## **For the period ended 31 October 2020** |**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Incoming resources**
Incoming resources from generating funds:
Voluntary income
2
14,458
-
Funeral Funds
2
-
17,169
**Total incoming resources**
14,458
17,169
**Resources expended**
Funeral costs
-
11,475
Staff costs
3
-
-
Establishment costs
1,241
-
Accountancy fees
1,500
-
Legal and professional fees
-
-
Communications and IT
212
-
Other office expenses
43
-
Depreciation and impairment
8,494
-
Bank charges
690
-
Travel
-
-
Printing, postage & stationary
-
-
**Total resources expended**
12,180
11,475
Total funds brought forward
280,083
2,470
**Total funds carried forward**
282,361
8,164|**Year**
**ended**
**31/10/20**
**Total**
**£**
14,458
17,169
31,627
11,475
-
1,241
1,500
-
212
43
8,494
690
-
-
23,655
282,553
290,525|**Year**
**ended**
**31/10/19**
**Total**
**£**
58,405
-| |---|---|---| |||58,405| |||-
5,777
9,583
1,495
4,149
809
360
10,618
744
1,594
105| |||35,234| |||256,911| |||280,082| **The notes on pages 7 to 10 form an integral part of these financial statements.** **Page 5** Balante sI￿t at31 October 2020 31niv20 xed *%8ets Tan8ibl¢ a%sei* Current a55ets Debrors Cash at bank in hand 33.977 42.471 249.61M 241J47 258.IM8 241y7 Credit(*rs: #moullts fAlb due within one ye4r {1S(M)) 11.4651 Ne¢ curreDI aslets 256548 Net *w¢ts 2W525 28L553 Restricted fullds Umre$tii¢ted iticome futtds 8.164 281361 2.471 280.082 Totsl funds )J25 282.553 Mr.Ihmed Sbeikb TThstse Datt: -l_7, 0¥,1021 P¥ge6 ## **Milton Keynes Islamic and Cultural Association** ## **Notes to financial statements for the period ended 31 October 2020** ## **1. Accounting policies** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period and the preceding period. ## **1.1. Basis of accounting** The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP FRS 102 ) and the charities act 2011. ## **1.2. Incoming resources** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable. ## **1.3. Resources expended** Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **1.4. Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: - Plant and machinery 20% reducing balance - Fixtures, fittings and equipment 20% reducing balance **Page 7** ## **Milton Keynes Islamic and Cultural Association** ## **Notes to financial statements** ## **for the period ended 31 October 2020** ## **2. Voluntary income** |Friday Collections
Donations
Funeral Fund
Fit Payments|**Year**
**ended**
**31/10/20**
**£**
-
12,793
17,169
1,665
31,627|**Year**
**ended**
**£**
16,432
40,198
-
1,775
58,405| |---|---|---| |**3.**
**Employees**
**Employment costs**
Wages and salaries
No employee received emoluments of more than £60,000 (2019 : None).|**Year**
**ended**
**31/10/20**
**£**
-|**Year**
**ended**
**31/10/20**
**£**
5,777| |---|---|---| |||| ## **Number of employees** The average monthly numbers of employees (including the trustees) during the period, calculated on the basis of full time equivalents, was as follows: |full time equivalents, was as follows:||| |---|---|---| ||**Year**|**Year**| ||**ended**|**ended**| ||**31/10/20**|| ||**Number**|**Number**| |Employees|-|3| **Page 8** ## **Milton Keynes Islamic and Cultural Association** ## **Notes to financial statements** ## **for the period ended 31 October 2020** |**Fixtures,**
**4.**
**Tangible fixed assets**
**Plant and fittings and**
**machinery**
**equipment**
**£**
**£**
**Cost**
At 1 November 2019 and
At 31 October 2020
2,000
160,812
**Depreciation**
At 1 November 2019
1,476
118,865
Charge for the period
105
8,389
At 31 October 2020
1,581
127,254
**Net book values**
At 31 October 2020
419
33,558
At
524
41,947
**5.**
**Debtors**
**31/10/20**
**£**
Amounts due from subsidiary and associated undertakings
249,600
**6.**
**Creditors: amounts falling due**
**within one year**
**31/10/20**
**£**
Accruals and deferred income
1,500
**7.**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**£**
Fund balances at 31 October 2020 as represented by:
Tangible fixed assets
33,977
Current assets
258,048
Current liabilities
)
(1,500
290,525||**Total**
**£**
162,812
120,341
8,494
128,835
33,977
42,471
**£**
-
**£**
1,465
**Total**
**funds**
**£**
33,977
258,048
)
(1,500
290,525| |---|---|---| |||| |||| |||| |||| |||| |||| |||| **Page 9** ## **Milton Keynes Islamic and Cultural Association** ## **Notes to financial statements for the period ended 31 October 2020** |**8.**|**Unrestricted funds**||**At**|||||||**At**| |---|---|---|---|---|---|---|---|---|---|---| |||**1 Nov**||**Incoming**||**Outgoing**||||**31 Oct**| |||**2019**||**resources**||**resources**||||**2020**| ||||**£**||**£**||**£**|||**£**| ||||280,083||14,458||(12,180|)||282,361| |**9.**|**Restricted funds**||**At**|||||||**At**| |||**1 Nov**||**Incoming**||**Outgoing**||||**31 Oct**| |||**2019**||**resources**||**resources**||||**2020**| ||||**£**||**£**||**£**|||**£**| ||Funeral Fund||2,470||17,169||(11,475|)||8,164| ## **10. Related party transactions** There were transfer of £249,600 to Milton Keynes Islamic and Cultural Association CIO during the year ended 31st October 2020. **Page 10** ## **Milton Keynes Islamic and Cultural Association** **The following pages do not form part of the statutory accounts.** ## **Milton Keynes Islamic and Cultural Association** ## **Detailed statement of financial activities** ## **For the period ended 31 October 2020** |||**Year**|**Year**||**Year**|**Year**| |---|---|---|---|---|---|---| |||**ended**|||**ended**|| |||**31/10/20**||||| ||**£**||**£**|**£**||**£**| |**Incoming resources**||||||| |**Incoming resources from generating funds:**||||||| |_Voluntary income_||||||| |Friday Collections|||-|||16,432| |Donations|||12,793|||40,198| |Funeral Fund|||17,169|||-| |Fit Payments|||1,665|||1,775| ||||31,627|||58,405| |**Total incoming resources from generating funds**|||31,627|||58,405| |**Total incoming resources**|||31,627|||58,405| |**Resources expended**||||||| |**Costs of generating funds:**||||||| |**Cost of generating voluntary income**||||||| |_Donations_||||||| |Donations - Funeral costs|11,475|||-||| |Donations - Staff - Wages and salaries|-|||5,777||| |Donations - Establishment - Rent|-|||274||| |Donations - Establishment - Light & heat|1,051|||3,003||| |Donations - Establishment - Repairs & maintenance|190|||4,364||| |Donations - Establishment - Insurance|-|||1,236||| |Donations - Establishment - Other|-|||706||| |Donations - Professional - Accountancy fees|1,500|||1,495||| |Donations - Professional - Legal fees|-|||4,104||| |Donations - Professional - Book-keeping services|-|||45||| |Donations - Office - Telephone expenses|212|||809||| |Donations - Office - Advertising|43|||360||| |Bank charges|690|||744||| |Travel|-|||1,594||| |Printing, postage & stationary|-|||105||| ||||15,161|||24,616| |**Total cost of generating voluntary income**|||15,161|||24,616| |**Fundraising trading:**||||||| |**cost of goods sold and other costs**||||||| |**Total costs of generating funds**|||15,161|||24,616| **Page 12** ## **Milton Keynes Islamic and Cultural Association** ## **Detailed statement of financial activities** ## **For the period ended 31 October 2020** |**Charitable activities**
**Governance costs**
_Activities undertaken directly_
Depreciation & impairment
**Total governance costs**
**Net incoming/(outgoing) resources for the period**|**Year**
**ended**
**31/10/20**
**£**
8,494
8,494
8,494
7,972|**Year**
**ended**
**£**
10,618
10,618
10,618
23,171|**Year**
**ended**
**£**
10,618
10,618
10,618
23,171| |---|---|---|---| ||||10,618| ||||23,171| **Page 13**