FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 NOVEMBER 2024 FOR THE PLYMOUTH ISLAMIC EDUCATION TRUST CHARITY NUMBER 1134986
THE PLYMOUTH ISLAMIC EDUCATION TRUST CHARITY NUMBER 1134986 CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 NOVEMBER 2024 Page General Infornialion Trustees, Report Independent Examiner's Report Sialenient of Financial Activities Balance Slieet Notes to the Financial Slaiemenis
THE PLYMOUTH ISLAMIC EDUCATION TRUST
GENERAL INFORMATION
FOR THE YEAR ENDED 20 NOVEMBER 2024
CONSTITUTION DATED:
TRUSTEES:
Mr Mohamed Abu Muganzi
Mr Hichem Clieraoa
Mr S)'ed Kobir
Dr Akhl¢1que Raliman
Dr Azlisl)am Molid Nor
Imam Ali Dzimba Omar
CHARITY REGISTRATION NUMBER: 1134986
PRINCIPAL OFFICE:
19 Gr¢enbank. Avenue
Si Judes
Pl)'niouth
PL4 8PS
OBJECTS:
The benetit of the inhabit1( nts of
Pll'mouil) b), asso¢i1i1ingv log>eilier
local auiliorities, volunl
THE PLYMOUTH ISLAMIC EDUCATIOIN TRUST
CHARITY NUMBER 1134986
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 20 NOVEMBER 2024
The Trustees present their report IOLiether iTr'ith the financial slalements for the Trust for the year ended ?0 November
?0?4.
STRUCTURE, GOVERNANCE AIYD MANAGEMENT
Constitution
The Pll'mouth Islam ic Ediic
Organisational structure Decisions are made either b}, the Trustees as a ivhole or by a COTnmittee of the Truslees. Risks The major risks to ii'hich the cl)aril?' is exposed, as identified by the Trusiees, have been revieii'ed and sj'stems have been eslablislied to tn itigJate these risks. OWECTS Objects The objects ofthe charity are lo.. appll, its resources. at the discreiion of the Twstees, to promote the benefit of the inhabi114 nts ot Plymouth and nei L)l)bouriniY 11 re<1S b), associcltinLY ioiyeih¢r local authorities, volLinlat)' bodie5 and said inl)61bi114 nts in a coininon eflon (o advance education, in particular, in relation to Islam and the ciisloms, cultures and beliefs of Islamic peoples; and provide facilities t'or recreation or other leisure time occupation in the interests of social iveifare and il'iih the object of iniprovingF Ihe condiiion of life of said inhabiiants bj. sucl) exclusively charitable means as the Trustees shall from time to time delerniine. Aims The aims ot the Trustees are to.. advance education in relation to Islam for Muslims and non-Muslin)5 alike: ii'ork- in a coninion ett.ort ith agyencies and individuals in Pl)'mouili and Ilie surroundingy areas for the advancement of Isli& mic understanding7 and aivareness, creaiinc> muiual iolerance and respect- run the finances of Ili¢ charity accordingi to g)ood practice as a registered charity, to lake part in fundraising activities and to set up a cliarily mosque and cultural education centre in Plymouth. prornote the ii'ork of Ihe charity iN'ith individuals, agencies, materials, media and Ihroubyli technology including the cl)ariN' Ivebsite. support social activilies for recreation and leisure: and support the ii'elfare of Muslim men ai)d ivomen and communities. Obje¢live5 The objectives of the Trustees are to build on the charity's achievements to dale bj. raising tlie funds n¢¢d¢d lo pa). t-or Ilie complete ret"urbishmenl of Ilie cliarit) s freehold property, for Ih1clI planiiinL pemiission l)as noii. been obtained. Strategies The slrateLFies of the Trustees are lo: raise fund5 as ii'idely as possible both inside and outside tlie Uniied Kintsdom; and prepare an operatin plan for the building thai ivill set out both sources of continuing income and likely expenditure includino emplos'menl cost5.
PUBLIC BENEFIT Takints fulli, into account tl)e above objec15, the Trustees have concluded that the cliarity meets the public benefit requirement because.. l) the benefit that arises from tlie charity'5 aims is ihat the charity is able to advance education in relation to Islam for Muslims and non-MLislims <l1ik'e' ?) the chariry s ainis intend lo benetit the inhabitants of Pl)'mouth and neighbouring areas. 3) there are no restrictions on iN'ho can have the opportunity lo benelit. and 4) nobody receives any private benefit frorn the chariry. ACHIEVEMENTS AND PERFORMANCE Charitable activities undertaken The Trustees have undertaken a number ofactivilies: research support and resources; access to various librnry, literature and cultures; leb7al and social analysis; orLyanisalional and logistical support. meeling space for both reli&yious and community leisure. trainingi and learning opporninities; communications; and vomen's health. Factors relevant to achievement of objectives The fciciors relevant to the achievemenl of the Trust's objectives include: the employment of prot"essional advisers. an annual revie1* oftarsyets lo maintain constant progress; and an updated risk assessment. FINANCIAL REVIEW Review. of fjnancial position Incomincy resources ivere £160.30] (?0?3 £??4,68i). Resources expended lolalled £154.518 (?0?3 £??6.?06). Net inconiinL7 resources ii'ere £5.78i {20?3 nel outloing resources £1,5?1). Resen'es li is the policy ot the Truslees that income reserves be kept lo a minimum ot tti'elve months runninL? Costs. Total unrestricted income reserves al ?0 November ?0?4 ivere £246,6?i (2023: £?40.84?).
Permanent Endowment Fund The capital account represents the freehold property investment net of the loans obtained lo finance its acquisition. Unrestricted Fund Surplus income arisinu during the )'ear is added lo the general unrestricted fund and is available for tUre charitable purposes. Principal funding sources Tlie principal funding source of the chariry is doniqlions. Expenditure in the J'ear under revieiv has supported the key objectives ot" the cl)1( rity b! faciliiaiinu Ihe activities mentioned above. Plans for the future The TNstees' plans for the tuture include: ediliniJ and printiniP of educational nic1tirials and reports. developingy of submissions lo ¥yov¢rnmenl' project supervision and man<1b7enienl- strategic planning?: and softivare and computer use. SiLTned on behalf of the Trustees Dr Azlisham Mol)d Nor Dated IslolJ PJ%c S
THE PLYMOUTH ISLAMIC EDUCATION TRUST INDEPENDENT EXAMINER'S REPORT to the Trustees of the Plymouth Islamie Education Trust report on Ilie accounts of Ihe Trust tor the )'ear ended ?0 November ?024 which are set out on pages 7 to 10. RespeL'live responsihilili¥.s u]'Irii.slees ancl Ljxamiiier The charit) s trustees are responsible t.or the preparation of the a¢¢ounts. The charity's trustees consider that an audit is not required for this J'ear under section 144(?) of the Charities Aci ?0 I i (the 201 l Aci) and that an independent e.xamination is needed. It is my responsibility to: examine the accounts under section 145 of the 201 l Act; to tolloiv Il)e procedures laid doivn in the General Direciions given by the Charity Commissioners under section 145(5Kb) of the ?01 l Act; and to slate whether particular matters have come to my attention. M), exatnination was carried out in accordance with the general Directions given by the Charity Commission. An exaininalion includes a revieiv ot" the accounting records kept by the charity and a comparison of tlie accounts presented Iviil) tliose records. It also includes consideration of any unusual items or disclosures in the accounts, and Il)e seek-ingi of explanations froni )'ou as trustLes concerning? any such matters. The procedures undenaken do not provide all tlie evidence 11)1< 1 ii'ould be required in an 1¢ iidil and consequenil). no opinion is gyiven as to %'hell]er Ihe accoltnls present a 'lrue and t.air vieiy. and the report is limited lo those matters set out in the slalemenl beloiv. IndepLJiidcJiil e.yuin jii¢Jr 3 slulLipiL'nl In connection ii'ith my examination, no matter has come 10 my aiieniion.. which gives me reasonable cause lo believe that, in any material respect, the requirements (a} to keep accounlinLY records in accordance ivith Section 130 of the 201 l Act and (b) to preP&e accoiinis ii'hich accord ii'iih the accounting records and to comply Ivilh the accouniing requirenienls Ot Ilie ?0 I l Aci have not beln niet. or to ivhich, in m), opinion, atteniion should be draivn in order to enable a proper understanding of the accounts to be reached. Ashle), Smith FCCA CTA H M Williams 5 Sandi, Court Ashlei.h Way Plympion Pljmoulh PL7 iJX Dale= 16 Septetnber ?0?5 Pa%e 6
THE PLI'II IOiITH ISL.411 IIC EDIICATIOYI TRUST CH.4RITI' NUIllBER 1134986 ST..ITEIIIENT OF FINANCIAL ACTIVITIES FOR THE I'EAR ENI DED 20 INOI'EIllBER 2024 Unrestricted Income Fund Permanent Endowment Fund Total Funds l'ear ended 20 INoi'ember 2024 Funds l'ear ended 20 Noi'ember 2023 INCONI IIING RESOIIRCES Notes Other incoming resources Granis and donations Investment income 160.301 160JOI 224,685 TOTAL IINCOII IIIYG RESOURCES 160aOI 160JOI 224.685 RESOIIRCES EIPENDED Charliuble activities 150,918 150,918 222,966 Govern:Ince costs Alidil and aLcoiinliTrncv Leg)al and PTofessionai fee5 3,600 3.600 3,240 TOTAL RESOURCES EXPENDED 1.$4.518 144.418 226.206 NET INCOIIIIIIG RESOURCES 5,783 5,783 TRANSFERS BETIVEEN FUNDS TOTAL FUNDS BROUG14T FORIVARD ?40.84? 340,000 580,842 582J63 TOTAL FUNDS C,IRRIED FORITr'ARD ?46.6?5 340.000 586.625 -$80,842 The notes on pasies 9 and 10 fonn part of the financial statements PA2e 7
THE PLI'II IOUTH ISLAIlllC EDUC.4TIONI TRUST CH.4RITI' NUIllBER 1134986 BAL.4NCE SHEET AS AT 20 NOI'EIllBER 2024 NI)IL5 2024 2023 FIXED ASSETS r¥¥hi)Id pr(IPinv LquipmLnL lixiurLS ai)d fillings 629,441 ,073 630,514 629.441 632,014 CURRENT ASSETS 6.020 6.020 5,760 5,760 CURREP4T LI.4BILITIES Cr¥Jilors SD¥i¢il .%¥Luril) and L)thLr tLXiS l.i)an. 12,415 3,094 34,400 49,909 3.079 39,400 NET CURREIYT ASSETSIILI.4BILITIESI 43,889 51,172 TOT.4L ASSETS $86.625 580.842 REPRESENTED BI. IlnrislriLtLd lund I>Lm)lnI indoilminl lun 246.625 340.000 240.842 340.000 TOT,IL FUIYDS 586.625 580.842 SigJniLi on IK'hiill"ol'ih¥ '] ruslLL Dr itr.li511<1 m fvlolid Nor l)alLd 'n)L nolLS on pagLS g and l O fomi part of ihe linanLial stateminl%
THE PLYMOUTH ISLAMIC EDUCATION TRUST CHARITY NUMBER 1134986 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 NOVEMBER 2024 STATEMENT OF ACCOUNTING POLICIES Basis of aeeounting The Iin<1ncial siaiemenls have been draivn up in accordance iyith the Charities Acl ?0 I I, the Statement of Recommended Practice on Accounting7 and ReportinLF by Chariiies, of March ?OOi, accountin<F siandards and the historic cost basis of accountin( Incoming resources Incon)iniP resoiirces are accounied for on a receivable basis. Incoming resources from end01ent funds are not restricted and are accounted t.or as unrestricted tunds. No inconiing resources are deferred. No incoming resources have been included net ofexpendiiure. Resources expended LiabilitiLS clr¢ recob)nised ivhen they arise. Fund accounting Unreslricled t"uiids are available tor use at tlie discretion of the Trustees in turtherance of rhe gyeneral objectives of the Charitable Trust. End01Ment funds are expendable funds ii'liich represent the capital ol the Charitable Trust. Transfers betsveen funds may be made at tlie discretion of the Trustees iviihout restriction. INCOMING RESOURCES Unrestricted Income Funds 2024 Total ncome Fuiids 2023 Donalions Invesiment income 160,301 224,685 160JOI 224,68 CHARITABLE ACTIVITIES 8,308 2,029 3,280 21,984 903 ,763 79,211 18,874 8,394 4,212 2,459 25,990 904 InSLirance LiLlil and heat Teleplione PoslaiFe and sl¢iiionery Repairs and renLii'als VolunlLers' eipenses Events cosls Bank charL7es Depreci<11ion Sundr), eipenses Donations 30,654 11,497 6,099 1,427 1,577 1,529 ,500 2,810 150,918 127,043 222 1)66 Page 9
TIIF. PI.Tr'III)1"1'1115LLI.%IIC EDLC..I-I'ION TRI-.%T .II..IRI-I'I' NL %IIITr:R 1134I)116 F-OR TIIF. I'F..IR b-)DLI) 20 NnN'L.IIBF:112O24 FIIF-D .ISSF"I-S Equipment, I'ixture.% #nd FrLehiild Priipert). Ill ?0 N()i'imbLr ?U?3 629.441 671.526 AdLiition Disp()sal tlt ?0 No%LinbLr ?0?4 629,441 671,526 tlt 20 NoN¥n)bLr ?O?I Cliar&iL I()T Y¢ar Di.%posal At ?0 N()i'LimbLr 211?4 41,012 At ?0 N()I'LmbLr ?0?4 621).441 ,U73 6311,514 At ? I Nui'LmbLr 2073 621),441 632,014 l.'nrostrieted Ineiime I,-und perm¢1 -nd¢)ii'ment I,-und 'I'otul l.rL'Lhi)Id pr(>PLrtv 281),441 34Q,QOII 629,441 I quipminu li.xturL's dnd fittin&Fs 1.073 I,Q73 CurrL'nt &%seLS 6,020 6.020 L urrL'nL liabililic5 49,4109 49.l)U9 246.625 34U,UIIII SX6,625 -I'lii PirnianLn( F.ndoi¥'mLnt fund rLpfL'SLnls IrL'Lhold propLrtv al c(151 ILSS 1)biJinLsd in orLl¥r t rinanLi IL% piLrLhe. -I'hL Lli)r¥%triLILd InLomL Fuiid rL'prisLnt donalii7n5 and intri'simLni inLI)niL nLI ()f L.1nl¢UrL. al)L £3,60U aLLoiiiilanL%' li¢ L()ILrs ihL prcpara¢i()n ()fthL JLLoun¢s and indL'pendL Tit ixaminalion lor UIL l.l ¢ndLd ?U Xi'oILmbLr ?0?4. Vage 10