GREENWICH MADINA TRUST
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Charity Number 1129277
SHIPKOLYE FINANCIAL SERVICES
89 Langham Road LONDON N15 3LR
GREENWICH MADINA TRUST
YEAR ENDED 31 MARCH 2021
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 3 |
| Report for Trustees | 4 |
| Independent Examiner’s Report to the Trustees | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13-17 |
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GREENWICH MADINA TRUST
YEAR ENDED 31 MARCH 2021
| Status | The organisation is a registered charity |
|---|---|
| Governing Document | The organisation was registered with the |
| Charity Commission on 15 January 2009 | |
| Charity Registration Number | 1129277 |
| Registered Office | 56 Camrose Street |
| London SE2 0JA | |
| Trustees |
Mr Mohammad Azram (Chairman) |
| Mr Zafar Iqbal (Vice Chairman) | |
| Mr Gulzar Hussain Shah (Secretary) | |
| Mr Mubarik Hussain (Treasurer) | |
| Mr Shabir Ahmed | |
| Mr Mohammad Shafiq Kunwar | |
| Mr Mohammad Asghar | |
| Mr Muhammad Naeem Mirza | |
| Mr Muhammed Saleem Mirza | |
| Mr Farhat Ahmed | |
| Haji Mustak Ahmed | |
| Officers | Mr Mohammad Azram, Chair |
| Company Secretary | Mr Gulzar Hussain Shah |
| Bankers |
BarclaysBank Ltd |
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GREENWICH MADINA TRUST REPORT FOR THE TRUSTEES YEAR ENDED 31 MARCH 2021
The trustees present their Annual Report along with the Financial Statements for the year ended 31 March 2021
Trustee Report
Trustees Report
The past year has been a very difficult and challenging time for Greenwich Madina Trust and the Community. The Trust has had to change and adapt working practices due to the Covid Pandemic.
| During the first quarter we had a complete lockdown and freezing of all activities, whilst we assessed |
|---|
| the Government guidance and then adopted the Covid secure measures. |
| From the summer we took most of our activities online and reopened the Mosque for congregational |
| prayers, returning to a new normality. |
| We have devleoped strong relationships with our local Public Health Team and have focused on |
| delivering public health advice, as well as sign posting the Community to public support services at a |
| local level. |
| Our Islamic Education classes transitioned online, with gradually improving engagement and up take |
| from the community. |
| During the year the financial support given to the Trust by the Community has been exemplary. The |
| Trust has been striving to increase the number of monthly standing orders and received a good response |
| in this regard and there is more work to do. |
This past year the Trust has not had any significant project or funding requirement and therefore there is a healthy account balance.
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GREENWICH MADINA TRUST INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF Educational Centre YEAR ENDED 31 MARCH 2021
I report on the accounts of the company for the year ended 31 March 2021 which are set out on pages 9 to 15.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
The trustees (who are also the directors of the company for the purposes of company law) 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.
Having satisfied myself that the company is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
• examine the accounts under section 145 of the 2011 Act;
• to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
• to 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 company 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 386 of the Companies Act 2006; and
• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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.
Mirza Shipkolye Accountant 89 Langham Road, London N15 3LR
Dated: 24[th] April 2021
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GREENWICH MADINA TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| Note | £ | £ | £ | £ | |
| INCOME FROM | |||||
| Donations & legacies | |||||
| Income from charitable | |||||
| activities | 2 | 81,979 | 81,979 | 67,106 | |
| Investment income | 3 | ||||
| --------------------------------------- | --------------------------------- | --------------------------------------- | --------------------------------------- | ||
| TOTAL INCOME | 81,979 | 81,979 | 67,106 | ||
| --------------------------------------- | --------------------------------- | --------------------------------------- | --------------------------------------- | ||
| EXPENDITURE ON | |||||
| Charitable activities | 4 | (40,832) | (40,832) | (58,645) | |
| --------------------------------------- | ----------------------------------- | --------------------------------------- | --------------------------------------- | ||
| TOTAL EXPENDITURE | (40,832) | (40,832) | (58,645) | ||
| --------------------------------------- | --------------------------------- | --------------------------------------- | --------------------------------------- | ||
| NET INCOME | |||||
| /EXPENDITURE FOR THE | |||||
| YEAR | 41,147 | 41,147 | 8,461 | ||
| RECONCILIATION OF | |||||
| FUNDS | |||||
| Total funds brought forward | 424,458 | 424,458 | 415,997 | ||
| --------------------------------------- | ----------------------------------- | --------------------------------------- | --------------------------------------- | ||
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 465,605 ======================================= |
================================= | 465,605 ======================================= |
424,458 ======================================= |
The Statement of financial activities includes all gains and losses in the year. All of the above amounts relate to continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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GREENWICH MADINA TRUST BALANCE SHEET
YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | 2020 | |||||
|---|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |||
| FIXED ASSETS | |||||||
| Tangible Fixed assets | 640,000 | 640,000 | |||||
| CURRENT ASSETS | |||||||
| Debtors | 6 | 1,530 | 530 | ||||
| Cash at Bank and in Hand | 84,642 | 29,828 | |||||
| --------------------------------- | --------------------------------- | ||||||
| 86,172 | 30,358 | ||||||
| CREDITORS: Amounts falling | |||||||
| due within one year | 7 | (14,667) | 71,505 | (000) | 30,358 | ||
| --------------------------------- | --------------------------------- | ||||||
| NET CURRENT ASSETS | 711,505 | 670,358 | |||||
| ---------------------------- | ---------------------------- | ||||||
| NET ASSETS/(LIABILITIES) | 8 | 711,505 | 670,358 | ||||
| ============================ | ============================ | ||||||
| CHARITY FUNDS | |||||||
| Unrestricted Funds | |||||||
| General | 10 | 245,900 | 245,900 | ||||
| Designated | 11 | 464,605 | 424,458 | ||||
| ---------------------------- | ---------------------------- | ||||||
| TOTAL FUNDS | 711,505 | 670,358 | |||||
| ============================ | ============================ |
For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
These financial statements were approved by the trustees on 24[th] April 2021 and signed on its behalf by:
Zafar Iqbal Chair/Director
Naeem Mirza, Treasurer/Director
The notes on pages 06 to 11 form part of these financial statements.
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GREENWICH MADINA TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES:
Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015)
Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
E xpenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis
Depreciation and Dimunition of Assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Office equipment (except for IT equipment) 33.33 % per annum on cost .
From 2003-2004, IT equipment is fully written off in year of purchase.
General funds
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of Camden Mediation and which have not been designated for other purposes.
Designated funds
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds
Restricted funds are grants, donations and other incoming resources which are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Governance Costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.
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GREENWICH MADINA TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES (continued)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due
Gifts In Kind
The charity receives the benefit of work carried out by volunteers which is not costed
2 . INCOME FROM CHARITABLE ACTIVITIES:
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Contracted Services and Fees | 81,979 | 81,979 | 67,106 | |
| Other Income | 0.00 | 0 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 81,979 | 81,979 | 67,106 | ||
| ================================= | ================================= | ================================= | ================================= |
3. INVESTMENT INCOME:
| INVESTMENT INCOME: | |||
|---|---|---|---|
| Unrestricted | Total Funds | Total Funds | |
| Funds | 2021 | 2021 | |
| £ | £ | £ | |
| Bank Interest Received | 0 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | |
| ================================= | ================================= | ================================= |
. COSTS OF CHARITABLE ACTIVITIES:
| Total Funds | Total Funds | |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Charitable Activity | 40,832 | 58,645 |
| Governance | 000 | 000 |
| -------------------------------- | -------------------------------- | |
| 40,832 | 58,645 | |
| ================================= | ================================= |
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GREENWICH MADINA TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
4a . CHARITABLE ACTIVITY:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Salaries | 29,400 | 23,100 |
| Recruitment | 0 | 0 |
| Staff Training and Supervision | 0 | 0 |
| Fees for Mortgage | 0 | 00 |
| Iman Fees | 000 | 10,000 |
| Advertising and Marketing | 0 | 0 |
| Volunteer Expenses | 2,800 | 6,800 |
| Staff Travel | 0 | 0 |
| Rent and Rates | 000 | 747 |
| Utilities | 5,157 | 6,179 |
| Cleaning | 0 | 0 |
| Security | 000 | 000 |
| Building Repairs and Maintenance | 2,688 | 810 |
| Printing, Publicity & Stationery | 0 | 00 |
| Postage | 0 | 0 |
| Telephone and Fax | 250 | 250 |
| Equipment Maintenance & Repair | 0 | 0 |
| Computer Expenses | 0 | 0 |
| Premises Costs and Room Hire | 000 | 000 |
| Insurance | 537 | 499 |
| Subscriptions & Accreditation | 0 | 00 |
| Sundry | 000 | 10,260 |
| -------------------------------- | -------------------------------- | |
| 40,832 | 58,645 | |
| ================================= | ================================= |
4b. GOVERNANCE:
| Total Funds | Total Funds | |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Independent Examination | 000 | 0 |
| Board Expenses | 000 | 00 |
| Companies House Filing Fee | 000 | 0 |
| Bank Charges | 000 | 0 |
| -------------------------------- | -------------------------------- | |
| 000 | 00 | |
| ================================= | ================================= |
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GREENWICH MADINA TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
5. STAFF COSTS AND TRUSTEES RENUMERATION:
Staff costs during the year was
| costs during the year was | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Wages and Salaries | 29,400 | 23,100 |
| Social Security Costs | 000 | 000 |
| -------------------------------- | -------------------------------- | |
| 29,400 | 23,100 | |
| ================================= | ================================= |
No members of staff were in receipt of emoluments of more than £60,000 during the year. The average number of full time employees was 2.5 (2021 – 2)
No trustee received any remuneration in respect of their services as a trustee during either the current or comparative year.
CREDITORS: Amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| HMRC VAT | 0 | 000 |
| PAYE & NI | 000 | 470 |
| Deferred Income | 0 | 000 |
| Other Creditors | 000 | 000 |
| --------------------------------- | --------------------------------- | |
| 000 | 470 | |
| ================================= | ================================= |
7. SUMMARY OF NET ASSETS BETWEEN FUNDS:
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Fixed Assets | 640,000 | 640,000 | 640,000 | |
| Net Current Assets | 71,505 | 71,505 | 30,358 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 711,505 | 711,505 | 670,358 | ||
| ================================= | ================================= | ================================= | ================================= |
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