GHANA MUSLIM WELFARE CENTRE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2021
Charity Number 1130982
GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
| CONTENTS | PAGE |
|---|---|
| Trustees Annual Report | 3-5 |
| Independent examiner's report to the members | 6 |
| Statement of financial activities | |
| (incorporating the income and expenditure account) | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9-12 |
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name GHANA MUSLIM WELFARE CENTRE Charity registration number 1130982 Principal Office GHANA MUSLIM WELFARE CENTRE 1 LAWRENCE YARD LAWRENCE ROAD LONDON N15 4EG
THE TRUSTEES The trustees who served the charity during the period were as follows:
Abubakar Suleiman (Chairman) Mohammed Haidara Salih Baba Toure Ibrahim Abdulkadir Abdul Wahid Hussaini Ahmed Sanusi Secretary Ahmed Mohammed Saani Independent Examiner ITL Accounting & Tax Services Ltd Unit 4 Marbridge House Harold’s Road Harlow Essex CM19 5BJ Accountants ITL Accounting & Tax Services Ltd Unit 4 Marbridge House Harold’s Road Harlow Essex CM19 5BJ Bankers HSBC Bank 5 Wimbledon Hill Road Wimbledon London SW19 7NF
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
As at the date of this report, there are no custodian Trustees or Nominees and no trustee of the charity is holding the title to any property belonging to the charity.
The Trustees submit their annual report and examined financial statements for the year ended 31 March 2021. The report and financial statements have been prepared in accordance with the Charities Act 2011. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the report and financial statements. The Charity was incorporated on 9[TH] May 2009. It is governed by its constitution.
OBJECTS AND ACTIVITIES
Objects
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To advance the teachings of Islamic religion in London and surrounding areas for the benefit of the public through holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature on Islamic religion and to enlighten others about the teachings of Islam. the relief of sickness and he promotion of good health for the public benefit through a monthly health initiative.
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To relieve poverty amongst the residents of the Area of Benefit in such ways as may be thought fit;
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To promote the welfare of members & public safety and prevent crime.
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To establish or secure the establishment of a community centre and to maintain as well as manage the same (whether alone or in co-operation with any local authority or person or body).
Activities
The GHANA MUSLIM WELFARE CENTRE has held several welfare gatherings and programmes to help improve the well-being of its members.
ACHIEVEMENTS AND PERFORMANCE
The centre holds annual Ramadan week lectures, educate their children on Islamic and secular education, and provide a common facility for congregational prayers and observation and manifestation of Islam.
The Charity has made all the efforts necessary to ensure that all the incoming resources are utilised in a best possible way to achieve the objectives of the Charity.
Islamic education is provided to students from different aged groups with daily afternoon/evening sessions as well as on weekend. The Mosque has engaged the services of individual volunteers as parttime teachers and Imams to provide teaching to the Muslim Community as well as a Centre Manager to manage the community centre.
The community centre is utilized for education, youth centre, women, and elderly activities. It is used for social and recreational purposes.
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
Reserves
The Charity has no policy on reserves currently.
As at 31 March 2021 the Charity had £72,964 (2020: £87,012 Unrestricted Funds and £73,395 (2020: £3,353).
Future Plans
The trustees intend to continue in a similar way to the recent past, continuing with the Mosque and community centre and continuing with the objectives. It also intends to acquire a community for the benefit of members.
Going Concern
As at the date of approving the report and accounts, there are no uncertainties about the charity’s ability to continue as a going concern.
Independent Examiner
ITL Accounting & Tax Services Ltd has also been appointed as Independent Examiner and a resolution proposing their re-appointment will be put to the Annual General Meeting.
Signed on behalf of the trustees:
Date: 30/01/2022
Date: 30/01/2022
Abubakar Suleiman Chairman
Abdul Wahid Hussaini Trustee
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER AND BASIS OF REPORT
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act.
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Companies Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the requirement of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by Charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
ITL Accounting & Tax Services Ltd Unit 4 Marbridge House Harolds Road Harlow - Essex CM19 5BJ
Date: 31/01/2022
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
STATEMENT OF FINANCIAL ACTIVITIES (incorporating an Income and Expenditure Account)
Year ended 31 March 2021
| Note Income and endowments from: Donations 2 Total Expenditure on: Charitable activities 3 TOTAL NET INCOME/(EXPENDITURE) GROSS TRANSFER BETWEEN FUNDS Interest income Total Funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2021 2021 2021 2020 16,054 78,312 94,366 48,000 |
|
|---|---|---|
| 16,054 78,312 94,366 48,000 |
||
| (30,107) - (30,107) (47,364) |
||
| (30,107) - (30,107) (47,364) |
||
| (14,053) 78,312 64,259 636 - - - - |
||
| 5 - 5 36 87,012 3,353 90,365 89,693 |
||
| 72,964 73,395 146,359 80,365 |
All of the above amounts relate to continuing activities.
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
BALANCE SHEET
As at 31 March 2021
| Notes Fixed Assets Fixed Assets 7 Total Fixed Asset Current Assets Debtors Cash at bank and in Hand Total Current Assets Liabilities Creditors amounts falling due within one year 8 Net Current assets or liabilities Creditors amounts falling due after one year Total Net Asset or Liabilities 10 Funds Restricted Funds Unrestricted Funds 11 Total Funds |
2021 2020 483 725 |
|---|---|
| 725 725 - - 146,359 91,260 |
|
| 146,359 91,260 - - |
|
| 146,359 91,260 |
|
| - - |
|
| 146,359 91,260 |
|
| 73,395 3,353 72,964 88,631 |
|
| 146,359 91,985 |
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
For the year ended 31 March 2021 the company was entitled to exemption from audit under section 144 (2) of the Charities Act 2011 (the 2011 Act).
Trustees’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 144 (2) of the 2011 Act; and
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The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements were approved by the Board of Trustees on the 30/06/2021 and are signed on their behalf by:
Date: 30/01/2022
Abubakar Suleiman Chairman
Date: 30/01/2022 Abdul Wahid Hussaini Trustee
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
NOTES TO THE ACCOUNTS
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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The financial statements are prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charitable company and rounded to the nearest £.
GHANA MUSLIM WELFARE CENTRE meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
These financial statements for the year ended 10 MAY 2020 are the first financial statements of the charitable company prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2016. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
2. Going concern
The trustees have assessed the charity’s ability to continue as a going concern and there are no material uncertainties.
3. Incoming resources
Income is primarily devised from the voluntary donations supporting the principal objects of the Charity. All incoming resources are included in the SoFA when the charity is entitles to the income and the amount have be quantified with reasonable accuracy.
4. Fund accounting
Unrestricted funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds
Restricted funds are subject to restrictions on their expenditure imposed by the donor.
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
NOTES TO THE ACCOUNTS ( Continued)
5. Investment Income
Investment income and gains are allocated to the appropriate fund and is included when receivable.
6. Taxation
As a charity, Ghana Muslim Welfare Centre is a Mosque and Muslim Community Centre is exempt from tax on Income and gains falling within section 478 of the Taxes Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to Its charitable object. No tax charge has arisen in the charity
7. Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources:
NOTES TO THE ACCOUNTS
Governance costs are those costs incurred in connection with the governance arrangement of the charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements.
The basis of allocation for support costs and governance costs has been explained in the notes.
1. Fixed assets
All fixed assets are initially recorded at cost.
2. Income received
| Donations Other income Bank interest received Total |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2021 2021 2021 2020 16,054 78,312 94,366 48,000 5 - 5 36 |
|---|---|
| 16,059 78,312 94,371 48,037 |
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
NOTES TO THE ACCOUNTS (Continued)
3. Expenditure on Charitable activities
| Grant for Community projects Management and administration costs Governance Cost (See Note 4) |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2021 2020 - - - - 30,107 8,270 38,377 47,364 - - - - |
|---|---|
| 30,107 8,270 38,377 47,364 |
4. Governance Cost
| Accountancy fees & Trustees’ training | Unrestricted Total Funds Total Funds Funds 2021 2020 - - - |
|---|---|
| - - - |
5. RELATED PARTY TRANSACTIONS TRUSTEES’ EMOLUMENTS
No salaries or wages have been paid to trustees including the members of the committee, during the year. The trustees did not receive any remuneration for their services (2020: £Nil). The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
There were no transactions with related parties during the year (2020 - nil).
6. The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
7. TANGIBLE FIXED ASSETS
| COST As at 11 May 2020 Additions Disposals Revaluation Surplus At 31 March 2021 |
INVESTMENT ASSETS FIXTURES & FITTINGS TOTAL - 1,209 1,209 - - - - - - - - - |
|---|---|
| - 1,209 1,209 |
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
NOTES TO THE ACCOUNTS (Continued )
| INVESTMENT ASSETS DEPRECIATION As at 11 May 2020 - Charge for year - At 31 March 2021 - Net book value As at 11 May 2020 - At 31 March 2021 - CREDITORS: amounts falling due within one year Accruals |
INVESTMENT ASSETS - - |
FIXTURES & FITTINGS TOTAL 484 242 242 242 |
|---|---|---|
| - | 726 484 |
|
| - | 725 725 |
|
| - | 725 725 |
|
| 2021 2020 - - |
||
| - - |
8. CREDITORS: amounts falling due within one year
9. PENSION COMMITMENTS
The charity has no paid employees and therefore does not pay any pension contributions.
10. ANALYSIS OF CHARITABLE FUNDS
ANALYSIS OF MOVEMENT IN UNRESTRICTED FUNDS
| Balance at | |||||
|---|---|---|---|---|---|
| 11th May | Incoming | Revaluation | 31 March | ||
| 2020 | Resources | Expenditure | Gain/(Loss) | 2021 | |
| General Funds | 87,012 | 16,059 | (30,107) | - | 72,964 |
| ANALYSIS OF MOVEMENT IN UNRESTRICTED FUNDS - Previous year | |||||
| 11th May | Revaluation | 10 May | |||
| 2019 | Resources | Expenditure | Gain/(Loss) | 2020 | |
| General Funds | 87,429 | 46,947 | (47,364) | 87,012 |
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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021
NOTES TO THE ACCOUNTS (Continued )
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed | Net Current | ||
|---|---|---|---|
| Assets | Assets | Total | |
| Restricted Income Funds | - | 73,395 | 73,395 |
| Unrestricted Income Funds | 483 | 72,964 | 73,447 |
| Total Funds | 483 | 146,359 | 146,842 |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS - | Previous year | ||
| Fixed | Net Current | ||
| assets | assets | Total | |
| Restricted Income Funds | - | 3,353 | 3,353 |
| Unrestricted Income Funds | 725 | 87,012 | 87,737 |
| Total Funds | 725 | 90,365 | 91,090 |
12. UN-INCORPORATED CHARITY
The charity is not registered with Companies House and therefore is classified as an unincorporated charity.
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