Gravesham Muslims Cultural and Educational Centre
Charity No. 1136194
Trustees' Report and Unaudited Accounts
30 September 2024
Gravesham Muslims Cultural and Educational Centre Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Statement of Cash flows | 5 |
| Notes to the Accounts | 6 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
Page 1
Gravesham Muslims Cultural and Educational Centre Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 30 September 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1136194
Trustees
The following Trustees served during the year:
Abul Kalam Jahir Ali Mohammed Korim
Accountants
ATN Partnership 142-143 Parrock Street Gravesend DA12 1EY
OBJECTIVES AND ACTIVITIES
The organisation was established to provide Islamic cutural and religious education for both children and adults and to provide Bangladeshi language and cultural education.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the 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 (FRS102).
The trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Jahir Ali Trustee 12 June 2025
Page 2
Gravesham Muslims Cultural and Educational Centre Statement of Financial Activities
for the year ended 30 September 2024
| Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Charitable activities 4 Other 5 Total Net gains on investments Net income 6 Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ 63,356 |
Total funds 2024 £ 63,356 |
Total funds 2023 £ 68,816 |
|---|---|---|---|
| 63,356 1,918 56,309 |
63,356 1,918 56,309 |
68,816 468 50,575 |
|
| 58,227 - |
58,227 - |
51,043 - |
|
| 5,129 - |
5,129 - |
17,773 - |
|
| 5,129 | 5,129 | 17,773 | |
| 5,129 492,115 |
5,129 492,115 |
17,773 474,341 |
|
| 497,244 | 497,244 | 492,114 |
Page 3
Gravesham Muslims Cultural and Educational Centre
Balance Sheet
at 30 September 2024
| Charity No. 1136194 Notes 2024 £ Fixed assets Tangible assets 8 389,123 389,123 Current assets Debtors 9 16,008 Cash at bank and in hand 92,574 108,582 Creditors:Amount falling due within one year 10 (461) Net current assets 108,121 Total assets less current liabilities 497,244 Net assets excluding pension asset or liability 497,244 Total net assets 497,244 The funds of the charity Unrestricted funds 11 1 General funds 497,244 497,244 Total funds 497,244 |
Charity No. 1136194 Notes 2024 £ Fixed assets Tangible assets 8 389,123 389,123 Current assets Debtors 9 16,008 Cash at bank and in hand 92,574 108,582 Creditors:Amount falling due within one year 10 (461) Net current assets 108,121 Total assets less current liabilities 497,244 Net assets excluding pension asset or liability 497,244 Total net assets 497,244 The funds of the charity Unrestricted funds 11 1 General funds 497,244 497,244 Total funds 497,244 |
2023 £ 391,426 |
|---|---|---|
| 391,426 17,089 84,231 |
||
| 101,320 (632) |
||
| 100,688 492,114 |
||
| 492,114 | ||
| 492,114 | ||
| 1 | 1 | |
| 497,244 497,244 497,244 |
492,115 | |
| 492,115 | ||
| 492,115 |
Approved by the trustees on 12 June 2025
And signed on their behalf by:
Jahir Ali Trustee 12 June 2025
Page 4
Gravesham Muslims Cultural and Educational Centre Statement of Cash flows
for the year ended 30 September 2024
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Decrease/(Increase) in trade and other receivables (Decrease)/Increase in trade and other payables Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2024 £ 5,129 2,304 1,081 (171) 8,343 - - 8,343 84,231 92,574 92,574 92,574 |
2023 £ 17,773 2,580 (17,089) 632 |
|---|---|---|
| 3,896 | ||
| - | ||
| - | ||
| 3,896 | ||
| - | ||
| 3,896 | ||
| 84,231 | ||
| 84,231 |
Page 5
Gravesham Muslims Cultural and Educational Centre
Notes to the Accounts
for the year ended 30 September 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 6
Gravesham Muslims Cultural and Educational Centre Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 7
Gravesham Muslims Cultural and Educational Centre
Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
Gravesham Muslims Cultural and Educational Centre
Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations 4 Expenditure on charitable activities Expenditure on charitable activities Governance costs |
Unrestricted £ 63,356 63,356 Unrestricted £ 1,918 1,918 |
Unrestricted funds 2023 £ 68,816 68,816 468 50,575 51,043 17,773 17,773 17,773 474,341 492,114 Total 2024 £ 63,356 63,356 Total 2024 £ 1,918 1,918 |
Total funds 2023 £ 68,816 |
| 68,816 468 50,575 |
|||
| 51,043 | |||
| 17,773 | |||
| 17,773 | |||
| 17,773 474,341 |
|||
| 492,114 | |||
| Total 2023 £ 68,816 |
|||
| 68,816 | |||
| Total 2023 £ 468 |
|||
| 468 |
Page 9
Gravesham Muslims Cultural and Educational Centre
Notes to the Accounts
5 Other expenditure
| Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 6 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 8 Tangible fixed assets Cost or revaluation At 1 October 2023 At 30 September 2024 Depreciation and impairment At 1 October 2023 Depreciation charge for the year At 30 September 2024 Net book values At 30 September 2024 At 30 September 2023 9 Debtors VAT recoverable Other debtors |
Unrestricted £ 37,156 14,823 2,304 1,164 862 56,309 2024 £ 2,304 2024 37,156 37,156 Land and buildings £ 368,386 368,386 - - - 368,386 368,386 2024 £ 8 16,000 16,008 |
Total 2024 £ 37,156 14,823 2,304 1,164 862 56,309 Fixture and fittings £ 46,238 46,238 23,197 2,304 25,501 20,737 23,041 |
Total 2023 £ 31,081 15,206 2,580 1,208 500 |
|---|---|---|---|
| 50,575 | |||
| 2023 £ 2,580 2023 31,081 |
|||
| 31,081 | |||
| Total £ 414,624 |
|||
| 414,624 | |||
| 23,197 2,304 |
|||
| 25,501 | |||
| 389,123 | |||
| 391,427 | |||
| 2023 £ 103 16,986 |
|||
| 17,089 |
Page 10
Gravesham Muslims Cultural and Educational Centre Notes to the Accounts
10 Creditors:
amounts falling due within one year
| Other taxes and social security Other creditors Accruals 11 Movement in funds At 1 October 2023 Restricted funds: Unrestricted funds: General funds 492,115 Total funds 492,115 12 Analysis of net assets between funds Fixed assets Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt |
Incoming resources (including other gains/losses) £ 63,356 63,356 |
2024 £ 221 - 240 461 Resources expended £ (58,227) (58,227) At 1 October 2023 £ |
Gross transfers £ - - Unrestricted funds £ 389,123 108,121 497,244 Cash flows £ |
2023 £ - 382 250 |
|---|---|---|---|---|
| 632 | ||||
| At 30 September 2024 £ 497,244 |
||||
| 497,244 | ||||
| Total £ 389,123 108,121 |
||||
| 497,244 | ||||
| At 30 September 2024 £ |
||||
| 84,231 | 8,343 | 92,574 | ||
| 84,231 84,231 |
8,343 8,343 |
92,574 | ||
| 92,574 |
Page 11
Gravesham Muslims Cultural and Educational Centre Detailed Statement of Financial Activities
for the year ended 30 September 2024
| Income and endowments from: Donations and legacies Donations Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Fixture and fittings Bank charges Stationery and printing Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income |
Unrestricted funds 2024 £ 63,356 63,356 63,356 1,918 1,918 1,918 37,156 37,156 3,163 6,464 73 1,101 4,022 14,823 2,304 198 15 951 3,468 862 862 56,309 58,227 - 5,129 |
Total funds 2024 £ 63,356 63,356 63,356 1,918 1,918 1,918 37,156 37,156 3,163 6,464 73 1,101 4,022 14,823 2,304 198 15 951 3,468 862 862 56,309 58,227 - 5,129 |
Total funds 2023 £ 68,816 |
|---|---|---|---|
| 68,816 | |||
| 68,816 468 |
|||
| 468 | |||
| 468 31,081 |
|||
| 31,081 | |||
| 3,796 5,330 75 1,037 4,968 |
|||
| 15,206 | |||
| 2,580 187 183 838 |
|||
| 3,788 | |||
| 500 | |||
| 500 | |||
| 50,575 | |||
| 51,043 - |
|||
| 17,773 |
Page 12
Gravesham Muslims Cultural and Educational Centre Detailed Statement of Financial Activities
| Gravesham Muslims Cultural and Educational Centre Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
5,129 - 5,129 492,115 497,244 |
5,129 - 5,129 492,115 497,244 |
17,773 - |
| 17,773 | |||
| 474,341 | |||
| 492,114 |
Page 13