Charity registration number: 1127264
Barnoldswick Learning & Cultural Trust
Annual Report and Financial Statements for the Year Ended 31 December 2023
MacMahon Leggate Chartered Accountants 1st Floor, Kingsway House Kingsway Burnley BB11 1BJ
Barnoldswick Learning & Cultural Trust
Contents
| Reference and Administrative Details Trustees' Report |
1 2 to 3 |
|---|---|
| Independent examiner's report | 4 |
| Statement of financial activities Balance Sheet |
5 6 |
| Notes to the financial statements | 7 to 11 |
| The following page does not form part of the statutory financial statements: |
Statement of financial activities per fund 12
Barnoldswick Learning & Cultural Trust Reference and Administrative Details
| Charity name | Barnoldswick Learning & Cultural Trust |
|---|---|
| Charity registration number | 1127264 |
| Trustees | I Ahmed |
| Z Ahmed | |
| S Ditta | |
| I Abdullah (Gani) Vali | |
| Bankers | HSBC |
| Nelson | |
| 12 Manchester Road | |
| Nelson | |
| Lancashire | |
| BB11 1JH | |
| Accountant | MacMahon Leggate |
| 1st Floor, | |
| Kingsway House | |
| Kingsway | |
| Burnley | |
| BB11 1BJ |
Page 1
Barnoldswick Learning & Cultural Trust
Trustees' Report
Introduction
The trustees present their annual report and financial statements for the year ended 31 December 2023 and confirm that they comply with the Charities Act 1993, as amended by the Charities Act 2011, the constitution and the Charities SORP 2005.
The board of trustees are satisfied with the performance of the charity during the year, the position at 31 December 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity’s assets are adequate to fulfil its obligations.
Governing Document
Barnoldswick Learning & Cultural Trust was constituted as a charitable trust registered with the Charity Commission in December 2008 under charity number 1127264. It is governed by a constitution last updated in October 2009.
Organisational Structure
The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.
Appointment of Trustees
The existing trustees are responsible for the appointment of new trustees.
Objectives and Activities of the Charity
The objects of the charity are set out in its constitution and are summarised as follows:
To advance the Islamic religion in Barnoldswick for the benefit of the public through the holding of prayer meetings, lectures, public celebration of Islamic festivals and producing and distributing literature on the Islamic faith to enlighten others.
The promotion of racial harmony for the benefit of the public by promoting knowledge and mutual understanding between different racial groups.
To advance the education of the public in the subject of Islam.
Achievements and Performance of the Charity
During the year the charity has continued to steadily and successfully raise money via donations and loans from the Muslim community across the country. Using previous monies raised, the mosque site was purchased on 29 December 2009, and a further, larger site was acquired in July 2023.
Policies on reserves
The trustees have resolved to establish reserves to provide for the furtherance of the charity’s activities.
Page 2
Barnoldswick Learning & Cultural Trust Trustees' Report
Details of any funds materially in deficit
No funds are in deficit.
Approved by the Trustees on 30 October 2024 and signed on their behalf by:
SIGNED SECURELY SIGNED SECURELY Vee 30/10/2024 at 1:03:37 PM UTC [30/16/2024 30/10/2024 at 1:03:37 PM UTC .........................................
I Ahmed
Trustee
Page 3
Independent Examiner's Report to the Trustees of
Barnoldswick Learning & Cultural Trust
I report on the accounts of the Trust for the year ended 31 December 2023, which are set out on pages 5 to 11.
Respec�ve responsibili�es of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried 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 comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking 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 statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... 1st Floor, Richard Robinson Kingsway House MacMahon Leggate Kingsway Chartered Accountants Burnley BB11 1BJ 30 October 2024
Page 4
Barnoldswick Learning & Cultural Trust
Statement of Financial Activities for the Year Ended 31 December 2023
| Note Incoming resources Incoming resources from generated funds Voluntary income 2 Activities for generating funds 3 Total incoming resources Resources expended Costs of generating funds Costs of generating voluntary income 4 Fundraising trading: cost of goods sold and other costs 4 Total resources expended Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 251,885 2,380 254,265 16,146 1,820 17,966 236,299 133,192 369,491 |
Total Funds 2023 £ 251,885 2,380 254,265 16,146 1,820 17,966 236,299 133,192 369,491 |
Total Funds 2022 £ 12,468 - |
|---|---|---|---|
| 12,468 | |||
| 11,427 - |
|||
| 11,427 | |||
| 1,041 132,151 |
|||
| 133,192 |
All incoming resources and resources expended derive from continuing activities.
The charity has no recognised gains or losses for the year other than the results above.
The notes on pages 7 to 11 form an integral part of these financial statements.
Page 5
Barnoldswick Learning & Cultural Trust Balance Sheet as at 31 December 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 7 | 328,317 | 124,772 | ||
| Current assets | |||||
| Stocks and work in progress | 1,430 | - | |||
| Debtors | 8 | - | 612 | ||
| Cash at bank and in hand | 47,918 | 10,943 | |||
| 49,348 | 11,555 | ||||
| Creditors: Amounts falling due | |||||
| within one year | 9 | (8,174) | (3,135) | ||
| Net current assets | 41,174 | 8,420 | |||
| Net assets | 369,491 | 133,192 | |||
| The funds of the charity: | |||||
| Unrestricted funds | |||||
| Unrestricted income funds | 369,491 | 133,192 | |||
| Total charity funds | 369,491 | 133,192 |
Approved by the Board on 30 October 2024 and signed on its behalf by:
tet SIGNED SECURELY30/10/2024 at 1:03:37 PM UTC [30/16/2024 SIGNED SECURELY30/10/2024 at 1:03:37 PM UTC .........................................
I Ahmed Trustee
The notes on pages 7 to 11 form an integral part of these financial statements.
Page 6
Notes to the Financial Statements for the Year Ended 31 December 2023
Barnoldswick Learning & Cultural Trust
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, applicable accounting standards and the Charities Act 2011.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Further details of each fund are disclosed in note 11.
Incoming resources
Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Shop income is recognised as earned (that is, as the related goods or services are provided).
Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold interest in land and buildings Not depreciated (including heritage
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
Page 7
Barnoldswick Learning & Cultural Trust Notes to the Financial Statements for the Year Ended 31 December 2023
......... con�nued
2 Voluntary income
Donations and legacies
Committed giving Other income
3 Activities for generating funds
Retail sales
Sales of purchased goods
----- Start of picture text -----
Unrestricted Total Funds Total Funds
Funds 2023 2022
£ £ £
251,885 251,885 11,438
- -
1,030
251,885 251,885 12,468
Unrestricted Total Funds Total Funds
Funds 2023 2022
£ £ £
-
2,380 2,380
----- End of picture text -----
Page 8
Barnoldswick Learning & Cultural Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
......... con�nued
4 Total resources expended
| Direct costs Cost of goods sold Employment costs Establishment costs Repairs and maintenance Office expenses Printing, posting and stationery Subscriptions and donations Sundry and other costs Accountancy fees Legal and professional costs Bank charges Other finance charges |
Donations and legacies £ - 5,219 5,272 9 220 10 492 150 1,435 1,800 622 917 16,146 |
Retail sales £ 1,820 - - - - - - - - - - - 1,820 |
Total £ 1,820 5,219 5,272 9 220 10 492 150 1,435 1,800 622 917 |
|---|---|---|---|
| 17,966 |
5 Trustees' remuneration and expenses
No trustees received any remuneration during the year.
6 Employees' remuneration
The aggregate payroll costs of these persons were as follows:
| Wages and salaries | 2023 £ 5,219 |
2022 £ 4,505 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year (2022 - No. 0).
Page 9
Barnoldswick Learning & Cultural Trust Notes to the Financial Statements for the Year Ended 31 December 2023
......... con�nued
7 Tangible fixed assets
Freehold interest in land and buildings (including heritage assets) £
| Cost As at 1 January 2023 Additions As at 31 December 2023 Net book value As at 31 December 2023 As at 31 December 2022 |
124,772 203,545 328,317 328,317 124,772 |
|---|---|
8 Debtors
| Prepayments and accrued income Creditors: Amounts falling due within one year Other creditors Accruals and deferred income |
2023 £ - 2023 £ 7,274 900 8,174 |
2022 £ 612 |
|---|---|---|
| 2022 £ 1,823 1,312 |
||
| 3,135 |
9 Creditors: Amounts falling due within one year
Page 10
Barnoldswick Learning & Cultural Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
......... con�nued
10 Related parties
Controlling entity
The charity is controlled by the trustees.
11 Analysis of funds
| At 31 | ||||
|---|---|---|---|---|
| At 1 | Incoming | Resources | December | |
| January 2023 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General Funds | ||||
| Unrestricted income fund | 133,192 | 254,265 | (17,966) | 369,491 |
12 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 328,317 49,348 (8,174) 369,491 |
Total Funds 2023 £ 328,317 49,348 (8,174) 369,491 |
Total Funds 2022 £ 124,772 11,555 (3,135) 133,192 |
|---|---|---|---|
Page 11
Barnoldswick Learning & Cultural Trust
Statement of financial activities by fund Year Ended 31 December 2023
| Incoming resources Incoming resources from generated funds Voluntary income Activities for generating funds Total incoming resources Resources expended Costs of generating funds Costs of generating voluntary income Fundraising trading: cost of goods sold and other costs Total resources expended Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted income fund 2023 £ 251,885 2,380 254,265 16,146 1,820 17,966 236,299 133,192 369,491 |
Unrestricted income fund 2022 £ 12,468 - |
|---|---|---|
| 12,468 | ||
| 11,427 - |
||
| 11,427 | ||
| 1,041 132,151 |
||
| 133,192 |
This page does not form part of the statutory financial statements.
Page 12