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2022-03-31-accounts

GHANA MUSLIM WELFARE CENTRE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2022

Charity Number 1130982

GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

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 2022

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 2022

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 2022. 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

  1. 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.

  2. To relieve poverty amongst the residents of the Area of Benefit in such ways as may be thought fit;

  3. To promote the welfare of members & public safety and prevent crime.

  4. 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 2022

Reserves

The Charity has no policy on reserves currently.

As at 31 March 2022 the Charity had £80,254 (2021: £72,964 unrestricted funds and £109,028 (2021: £73,395) restricted funds.

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: 30/09/2022

Date: 30/09/2022

Abubakar Suleiman Chairman

Abdul Wahid Hussaini Trustee

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022.

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:

  1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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: 30/09/2022

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

STATEMENT OF FINANCIAL ACTIVITIES (incorporating an Income and Expenditure Account)

Year ended 31 March 2022
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
2022
2022
2022
2021
47,852
35,633
83,485
94,365
47,852
35,633
83.485
94,365
(40,571)
-
(40,571)
(38,377)
(40,571)
-
(40,571)
(38,377)
7,281
35,633
42,914
55,988
-
-
-
-
9
-
9
5
72,964
73,395
146,359
90,365
80,254
109,028
189,282
146,358

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 2022

BALANCE SHEET

As at 31 March 2022

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		 2022
2021
-
483
-
483
-
-
189,282
146,359
189,282
146,359
-
-
189,282
146,359
-
-
189,282
146,359
109,028
73,395
80,254
72,964
189,282
146,359

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

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:

These financial statements were approved by the Board of Trustees on the 30/06/2022 and are signed on their behalf by:

Date: 30/09/2022

Abubakar Suleiman Chairman

Date: 30/09/2022 Abdul Wahid Hussaini Trustee

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

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 31 March 222 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 2022

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
2022
2022
2022
2021
47,852
35,633
83,485
94,366
9
-
9
5
47,861
35,633
83,494
94,370

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

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
2022
2021
-
-
-
-
40,571
-
40,571
38,377
-
-
-
-
40,571
-
40,571
38,377

4. Governance Cost

Accountancy fees & Trustees’ training Unrestricted
Total Funds Total Funds
Funds
2022
2021
-
-
-
-
-
-

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 (2021: £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 (2021 - 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 31 March 2021
Additions
Disposals
Revaluation Surplus
At 31 March 2022		 INVESTMENT
ASSETS
FIXTURES &
FITTINGS
TOTAL
-
1,209
1.209
-
-
-
-
(1,209)
(1,29)
-
-
-
-
-
-

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

NOTES TO THE ACCOUNTS (Continued )

INVESTMENT FIXTURES &
ASSETS FITTINGS TOTAL
DEPRECIATION
As at 31 March 2021 - 726 726
Disposal
Charge for year - (726) (726)
At 31 March 2022 - - -
Net book value
As at 31 March 2021 - 483 483
At 31 March 2022 - -
 -

8. CREDITORS: amounts falling due within one year

Accruals 2022
2021
-
-
-
-

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 Incoming Revaluation 31 March
01 April 2021 Resources Expenditure Gain/(Loss) 2022
General Funds 72,964 47,852 (40,571) 9 80,254
ANALYSIS OF MOVEMENT IN UNRESTRICTED FUNDS - Previous year
11th May Revaluation 31 March
2020 Resources Expenditure Gain/(Loss) 2021
General Funds 87,012 16,059 (38,377) 5 64,969

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GHANA MUSLIM WELFARE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022

NOTES TO THE ACCOUNTS (Continued )

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed Net Current
Assets Assets Total
Restricted Income Funds - 109,028 109,028
Unrestricted Income Funds - 80,254 87,254
Total Funds - 189,282 189,282
ANALYSIS OF NET ASSETS BETWEEN FUNDS - Previous year
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

12. UN-INCORPORATED CHARITY

The charity is not registered with Companies House and therefore is classified as an unincorporated charity.

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