**Charity number: 1126949**
**Milton Keynes Islamic & Cultural Association**
**Trustees' report and financial statements for the period ended 31 October 2022**
## **Milton Keynes Islamic & 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 - 9**|
## **Milton Keynes Islamic & 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 & Cultural Association**
## **Report of the trustees**
## **for the period ended 31 October 2022**
The trustees present their report and the financial statements for the period ended 31 October 2022. 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 £28,705 for the year ended 31st October 2022 and these were higher than last year's (£24,123). The outgoing resources totalled £16,845 compared to last year's (£13,846).
**Page 2**
Miltoa KeyDeJ Islamic & Cultural Assocfiaidon
Report ofthe trustees
for the perfod endtd 31 OttOr 2022
Th¢ trust$ are respoDsibl¢ for p[qMr1 the Tre8. ADD Rert 8fj the ar¢ord8ore with
applicable law and Unitrd Ststhjards (United Ki* GerallY Accep1 Ac¢ouniiD8 PTacticel.
Law applicabk to ChltieS ID EnstaThl I1 Waks rewire5 the ftU4tees tr) prtpatt fin**ial strtents for fiJ]anrial
period which give a tnx aThl fair view of ejwity of thc incoTrm8 Tewur aryl applicalion OC r¢s0w of th¢
AtAt¢ whether applIeIe UK Attrn3rtin8 Stsrthrth h•ve beffj folw •ny mltetid depthurt8 disclod
and expliitied in the r]nthciil IZMI
the finaDci#l posilion of th¢ ¢l>*Tity aThl enabk thcrn to ensure that the financial st*nKnts comply with the Ch)riiies
Arl 1993 aDrJ Ihe C'.harity (Aw)unts #nd R¢p)rts) 2CQ8. ]1 are also r£sIble for safe8u4rJitt¥ th¢
ts of the ¢IrIty atrj hctre for lakiD8 reawxble st¢ps pr¢v¢ntion j d¢teaion of fr#tyJ atyj other
On bd)A]f of the ird
Mr Ahmed Shelkh
Trustee
Date:
I2U2
Milton Keynes Islamic & Cultural Association
Independent examiner's report ¢0 the trustees on the unaudited flnancial statements of Milton
Keynes Islamic & Cultural Association.
I report on the accounts of Milton Keynes 151amic & Cultural Association for th¢ period ended 31 October 2022 set out
on pages 2 to 9.
Respective responsibilities of tThstees and independent examiner
As the ¢hariry'$ trustees yoll are responsible for the preparation of ihe a¢¢ounts. you consider that the audit requirement
of section 43121 of the c]ritieS Act 1993 Ithe Actl, as amended by section 28 of the Charities Act 2006 does not apply
and that an independent examination is needed. It is my responsibility to examine the accoutlts under section 4313llal of
the A¢L as amettded. to follow the procedures laid down in the GeneTal Directions given by the Charity Commission
under section 4317Xbl ofthe Act, &s amended: and to state wh¢ther particular matters have come to my attention.
Basis of indepelldent examiner's statement
M> examination was caled out in accordance with the General Directions given by the Charity Commission. An
examination includes a review Of the accounting records kept by the charity and a ¢OTnpaTison of the ac¢ounis presented
with those records. It also includes consideration of any unusual items or disclosures in the a¢¢ounts. and s¢¢king
explanations frotn 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 whe¢hei the a¢¢ounts present a
'Irue and fair view, and the report is limited to those matters s¢t out in th¢ statement below.
Independent examiner's statement
In connection with rny examination. no matter has come to my attention..
{]) which gives me reasonable ¢ause io believe ihai in any rnaierial respe¢t the requirements..
to keep PTop¢r accounting T¢cords in accordance with section 41 of the Act,. and
to prepare accounts which accord with the accouniing records and to comply with the accountin8 requirements
ofthe Act
have not been met., or
li1} io hiCh, in my opinion. attention should be drawi in order to en2ble a pmper understanding of the accounts to be
reached.
Mr Raza Si)mar FCA
ICAEW
190a-1192 Stratford Road
Hall Green
Birmingbam
Qkn31teieéNLCOth
B28 8AB
I1C)0-]]9sxrJtIo(è Ro•0
IqY}11.
.¢0.
Page 4
## **Milton Keynes Islamic & Cultural Association**
## **Statement of financial activities**
## **For the period ended 31 October 2022**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Incoming resources**
Incoming resources from generating funds:
Voluntary income
2
13,125
-
Funeral Funds
2
-
15,580
**Total incoming resources**
13,125
15,580
**Resources expended**
Funeral costs
-
9,557
Staff costs
3
-
-
Establishment costs
)
(49
-
Accountancy fees
1,675
-
Other office expenses
)
(2
-
Depreciation and impairment
5,436
-
Bank charges
228
-
**Total resources expended**
7,288
9,557
Total funds brought forward
282,528
18,274
**Total funds carried forward**
288,365
24,297|**Year**
**ended**
**31/10/22**
**Total**
**£**
13,125
15,580
28,705
9,557
-
)
(49
1,675
)
(2
5,436
228
16,845
300,802
312,662|**Year**
**ended**
**31/10/21**
**Total**
**£**
24,123
-|
|---|---|---|
|||24,123|
|||3,500
1,335
49
1,620
1
6,795
546|
|||13,846|
|||290,525|
|||300,802|
**The notes on pages 7 to 9 form an integral part of these financial statements.**
**Page 5**
Balance sheet
at 31 October 2022
3UIW22
31111V21
Fixed #isets
Tan8ible assct5
Current u8ets
Dcbtors
Cash ai bank 8lld ill haThl
21.746
27,182
249,6
42.991
249,6¢KI
25.640
292J91
275,240
Creditor¥:
due wllhln one year
(1.675)
(1.620)
Net ¢urr¢Tr¢
2W.916
273.620
Net •M¢ts
311662
3(X>.802
Funds
Restricted incOw funds
UnrestriEt¢d income fut¥
24.297
28&365
8,164
292.638
Total funds
312.662
31M).802
Mr Ahmed Sbelkb
TruJtet
Dale:
## **Milton Keynes Islamic & Cultural Association**
## **Notes to financial statements**
## **for the period ended 31 October 2022**
## **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 & Cultural Association**
## **Notes to financial statements**
## **for the period ended 31 October 2022**
## **2. Voluntary income**
||||**Year**|**Year**|
|---|---|---|---|---|
||||**ended**|**ended**|
||||**31/10/22**|**31/10/21**|
||||**£**|**£**|
||Donations||10,507|9,865|
||Funeral Fund||15,580|13,610|
||Fit Payments||2,618|648|
||||28,705|24,123|
|**3.**|**Mosque Projects**||||
||||**ended**|**ended**|
||||**31/10/22**|**31/10/22**|
||||**£**|**£**|
||Mosque Projects||-|1,335|
||||**Fixtures,**||
|**4.**|**Tangible fixed assets**|**Plant and **|**fittings and**||
|||**machinery**|**equipment**|**Total**|
|||**£**|**£**|**£**|
||**Cost**||||
||At 1 November 2021 and||||
||At 31 October 2022|2,000|160,812|162,812|
||**Depreciation**||||
||At 1 November 2021|1,665|133,965|135,630|
||Charge for the period|67|5,369|5,436|
||At 31 October 2022|1,732|139,334|141,066|
||**Net book values**||||
||At 31 October 2022|268|21,478|21,746|
||At 31 October 2021|335|26,847|27,182|
|**5.**|**Debtors**||||
||||**31/10/22**|**31/10/21**|
||||**£**|**£**|
||Amounts due from subsidiary and associated undertakings||249,600|249,600|
**Page 8**
## **Milton Keynes Islamic & Cultural Association**
## **Notes to financial statements**
## **for the period ended 31 October 2022**
## **6. Creditors: amounts falling due within one year**
|**Creditors: amounts falling due**|||
|---|---|---|
|**within one year**|**31/10/22**|**31/10/21**|
||**£**|**£**|
|Accruals and deferred income|1,675|1,620|
**7. Analysis of net assets between funds**
|**7.**|**Analysis of net assets between funds**|||||||
|---|---|---|---|---|---|---|---|
||||**Unrestricted**||**Restricted**|**Total**||
||||**funds**||**funds**|**funds**||
||||**£**||**£**|**£**||
||Fund balances at 31 October 2022 as represented by:|||||||
||Tangible fixed assets||21,746||-|21,746||
||Current assets||268,294||24,297|292,591||
||Current liabilities||(1,620|)|-|(1,620|)|
||||288,420||24,297|312,717||
|**8.**|**Unrestricted funds**|**At**||||**At**||
|||**1 Nov**|**Incoming**||**Outgoing**|**31 Oct**||
|||**2021**|**resources**||**resources**|**2022**||
|||**£**|**£**||**£**|**£**||
|||282,528|13,125||)
(7,233|288,420||
|**9.**|**Restricted funds**|**At**||||**At**||
|||**1 Nov**|**Incoming**||**Outgoing**|**31 Oct**||
|||**2021**|**resources**||**resources**|**2022**||
|||**£**|**£**||**£**|**£**||
||Funeral Fund|18,274|15,580||)
(9,557|24,297||
## **10. Related party transactions**
There were no transactions during the year with related charity Milton Keynes Islamic and Cultural Association CIO for the year ended 31st October 2022.
**Page 9**
## **Milton Keynes Islamic & Cultural Association**
**The following pages do not form part of the statutory accounts.**
## **Milton Keynes Islamic & Cultural Association**
## **Detailed statement of financial activities**
## **For the period ended 31 October 2022**
||||**Year**||**Year**|
|---|---|---|---|---|---|
||||**ended**||**ended**|
||||**31/10/22**||**31/10/21**|
||**£**||**£**|**£**|**£**|
|**Incoming resources**||||||
|**Incoming resources from generating funds:**||||||
|_Voluntary income_||||||
|Donations|||10,507||9,865|
|Funeral Fund|||15,580||13,610|
|Fit Payments|||2,618||648|
||||28,705||24,123|
|**Total incoming resources from generating funds**|||28,705||24,123|
|**Total incoming resources**|||28,705||24,123|
|**Resources expended**||||||
|**Costs of generating funds:**||||||
|_Donations_||||||
|Donations - Funeral costs|9,557|||3,500||
|Donations - Mosque Projects|-|||1,335||
|Donations - Establishment - Other|(49|)||49||
|Donations - Professional - Accountancy fees|1,675|||1,620||
|Bank charges|228|||546||
||||11,411||7,050|
|**Total cost of generating voluntary income**|||11,411||7,050|
|**Total costs of generating funds**|||11,411||7,050|
**Page 11**
## **Milton Keynes Islamic & Cultural Association**
## **Detailed statement of financial activities**
## **For the period ended 31 October 2022**
||||**Year**||**Year**|
|---|---|---|---|---|---|
||||**ended**||**ended**|
||||**31/10/22**||**31/10/21**|
||||**£**||**£**|
|**Governance costs**||||||
|Office expenses - Other|(2|)||1||
|Depreciation & impairment|5,436|||6,795||
||||5,434||6,796|
|**Total governance costs**|||5,434||6,796|
|**Net incoming/(outgoing) resources for the period**|||11,860||10,277|
**Page 12**