OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Finsbury Park Mosque

2024-07-31-accounts

REGISTERED COMPANY NUMBER: 07229018 (England and Wales) REGISTERED CHARITY NUMBER: 1136945

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 July 2024

for

Finsbury Park Mosque (A Company Limited by Guarantee)

Merit Accountants and Tax Advisors Ltd Statutory Auditors 5 Brayford Square London E1 0SG

Finsbury Park Mosque

Contents of the Financial Statements for the Year Ended 31 July 2024

Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 11
Statement of Financial Activities 12
Balance Sheet 13 to 14
Notes to the Financial Statements 15 to 24
Detailed Statement of Financial Activities 25 to 26

Finsbury Park Mosque

Report of the Trustees

for the Year Ended 31 July 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The objectives of the charity as set out in the charity’s Memorandum of Association:

"to advance and promote the knowledge of the religion of Islam for the public benefit."

Our objectives are set to reflect our faith and community aims. Our dual aims remain to provide a facility where Muslims can worship and to provide a community facility for all the inhabitants of Finsbury Park and the surrounding areas. Our long-term ambition is to build the self-confidence of the local Muslim community in their faith, and through community facilities and activities help make a peaceful, vibrant, and harmonious community.

Our values

Equality: We believe that all humans are equal, regardless of race or religion.

Respect: We affirm the dignity, potential and contribution of participants, donors, partners, staff, and volunteers.

Integrity: We act consistently with our mission, being honest and transparent in what we do and speak.

Partnerships: We always aim to work to serve the wider community .

Quality: We constantly challenge ourselves to the highest levels of learning and performance to achieve greater impact.

Strategies

We want to make our Mosque an accessible and welcoming venue where all Muslims, the wider community members or those who wish to know more about our faith, can gather to learn about the religion, worship, and the services we offer to the community. An important part of our strategy is community welfare and education. All our community facilities and activities welcome the participation of all in our local community, Muslims, and non-Muslims alike. Most of our activities are free and supported by donations or grant funding. Where a charge is made, concessions are made for students, people on means-tested benefits and pensioners.

We also endorse interfaith dialogue with other religious groups to clarify misconceptions, finding common ground, and enhancing civil society through promoting harmony and common values. We are members of the Islington Faiths Forum (IFF) which is a community partnership of faith-based organisations working together to assist local community development and delivery of individual and community support services.

1

Finsbury Park Mosque

Report of the Trustees

for the Year Ended 31 July 2024

OBJECTIVES AND ACTIVITIES

Significant activities

The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities provide benefit both to those in our congregation, stake holders and the wider community of Islington and surrounding areas.

Religious activities

Our Mosque provides a centre for prayers and worship and for the activities associated with our faith. During the year under review, we offered a range of religious services and activities including:

Prayers: The Mosque is open all day for daily and Friday prayers. During the week we have thousands of people who regularly attend daily prayers and Friday and Ramadan prayers.

Festivals: The Mosque prepares food during the month of Ramadan daily for those attending our Mosque who wish to break their fast together, also we extended this service to our local community especially those who face financial difficulties or poverties. Eid was also celebrated at the Mosque with a family day.

Civil marriages and Nikkah: The Mosque provide Muslim couples with an appropriate location for both their civil marriage and Nikkah (Islamic marriage), Subject to civil registration.

The learning and reading of the Quran and Arabic classes: Reading and memorisation of the Quran are considered an important element of religious education and training. We continue to provide this facility for the young people in the Mosque through the weekdays and weekend school.

Lectures and Study circles: The Mosque organises weekly lectures and study circles for its community daily on issues related to the religion of Islam, also, from time to time we invite guests and Scholars to give lectures on different topics of Islam and other topics related to the community benefit and interest.

Community activities

Our centre is not just a Mosque, it is a community centre which serve Muslims and non-Muslims alike. A wide variety of community activities are organised and take place at the Mosque.

Feeding the Homeless: This project started in partnership with organisations like Caris, The Passage, St. Johns Church, Caritas, and others where we open the Mosque’s doors every week to the homeless people in the area regardless of their faith, background or gender providing them with hot meals, also we offer them advice and the chance to socialise with others.

Visible Quality Reward: Finsbury Park Mosque has been awarded in October 2014 the "Visible Quality Mark" by Community Matters. The Visible Standards are endorsed by the Charity Commission. Finsbury Park Mosque was the first mosque and the third faith organisation in the country to receive such award.

Visit My Mosque days: This is an annual event which takes place every year, where members of the wider community, schools and colleges were invited to visit the Mosque and look to its exhibitions and watch the mosque presentation about its activities and have a tour around.

Eid with Refugees: We invite our local refugees to celebrate Eid with us every year so they can socialise and know the community and what services we provide for them.

2

Street Iftar: Finsbury Park Mosque is the first mosque in the country which start this initiative during the month of Ramadan 2017 and after the terrorist attack on the worshippers who left the Mosque after the night prayer. Since then, we have been organising the Street iftar every Ramadan where we invite the Muslim community and the wider community to celebrate and get together and share food outside the Mosque.

OBJECTIVES AND ACTIVITIES

Interfaith dialogue: Our Mosque is an active member of the Islington Faith Forum (IFF). The Mosque hosted many committee meetings for the last few years and hosted the course of Mental Health & Poverty which was organised by IFF. We use the platform to promote interfaith dialogue and social cohesion.

Hate crime events: The Mosque is one of the leading organisations in the borough to tackle hate crimes. This year we organised few events to address this issue especially during the Islamophobia awareness month in November where a diverse audience from all faiths and communities came together to show unity against hate crime and Islamophobia .

Youth and Women Activities: A youth club for youths has been established for more than 10 years now at our centre on a weekly basis, where young people can have a cohesive and healthy atmosphere and to keep them away from gangs, drugs, crimes, and extremism. Also, we have an active women section, they meet regularly to arrange for various activities, educational and social programs including joint activities with local Churches.

Environment: As environment becomes one of the main issues which we all need to address, we arranged in partnership with Islington Council several trips to the Ecology Centre for our students and adults to educate them about the importance of the environment and how we can be part of looking after our planet.

Hall and rooms: Our hall and meeting rooms are available for use by local groups and organisations. This year alone the facilities have been used by groups at the local karate club, the local community group and youth club. Local charities are encouraged to make use of the conference hall, and we normally host surgeries with both local Councillors and the MP for Islington. When the hall is not required for community use, it is then available for hire for family events (courses, training, conferences, weddings, condolences).

Health seminars and consultations: A Muslim GP provides a free health consultation at the Mosque occasionally and another advice session from a solicitor. In addition, we organise "heart diseases" seminar to raise awareness of how to avoid heart disease and the importance of maintaining a healthy lifestyle. We also organised a seminar with a focus on providing information to people who are at risk or suffer from diabetes and bowel cancer awareness workshop. We also arrange events to donate blood and to raise donation for people who suffer cancer. We were the first Mosque to organise an Autism hour for Autistic children in partnership with National Autistic Society (NAS) in 2019.

Community English Language Teaching Project: British Muslim communities are growing, with the latest 2021 Census estimating approximately 3.87 million Muslims in Britain, compared to 2.7m from the 2011 census. It shows also that the Muslim population in Islington has increased to more than 10%. Islington area has accommodated many Muslims who have moved into the area in recent years, and many of whom worship at our Mosque. We run a project in partnership with other organisations to provide social events and English language classes ESOL for these new residents to enable them to settle and integrate more easily into the society.

Partnership working and performance review: In developing our community programmes we work in partnership with Islington Council and Islington Police and faith organisations. We look to all our partners to give feedback on the success of our initiatives, and the trustees review progress and outcomes of our work at each meeting.

3

for the Year Ended 31 July 2024

Finsbury Park Mosque

Report of the Trustees

OBJECTIVES AND ACTIVITIES

Public benefit

The charitable objective of Finsbury Park Mosque set out in its Memorandum and Articles of Association is to advance and promote the knowledge of the religion of Islam for the public benefit. The Trustees have considered how our work may most effectively further our charitable objectives for the benefit of the public and have had regard to the Charity Commission’s guidance on public benefit when reviewing the aims and objectives of the charity and planning future activities.

Grantmaking

Finsbury Park Mosque is not mainly involved in collection and distribution of grants. However, many of our congregation donates regularly to some causes - like zakat, zakatul fitr, or certain causes like emergency relief - or we have charities making collections at the mosque. In all cases, to ensure transparency and accountability, we have a due diligence check before we allow any charity to collect any donation. Certain donations collected are distributed by way of providing grants to institutions pursuant to the Charity's objectives.

Volunteers

We encourage all members of our charity to be involved in voluntary activities and to share their skills with others. Volunteers play and extremely important role in the operations of the charity for which the charity is extremely grateful for. The volunteers provide us with their time, know-how and assist the Charity in its fundraising activities. Volunteers are not paid, however, reasonable out of pocket expenses such as travel costs are reimbursed. The charity has policies and procedures in place for volunteers which are regularly reviewed and includes recruitment, vetting and management of volunteers.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

A wide range of activities are carried out in pursuance of the charitable aims and objectives. The trustees consider that these activities, detailed under under Significant Activities section of this report, provide benefit both to those in our congregation, stake holders and the wider community of Islington and surrounding areas.

FINANCIAL REVIEW

Financial review

The charity's main sources of income are from collection of donations, grants and sponsorship from the public. During the year, total funds generated by the Charity amounted to £392,815 (2023: £419,085).

Total resources expended during the year amounted to £380,206 (2023: £391,411) which includes expenditure on donation payments and other charitable activities.

The funds carried forward at the end of the year was £4,256,045 (2023: £4,243,436). £855,478 of the current year fund balance represents unrestricted fund, and £3,400,567 represents the restricted fund balance.

Principal funding sources

The charity’s main sources of income are donations by the Muslim local community, whilst some income comes from sponsorships, hire of the halls and grants.

Investment policy and objectives

The charity's cash reserves are held in current and saving bank accounts. Any profit earned is added to the general fund reserve and used for general charitable purposes.

4

Finsbury Park Mosque

Report of the Trustees

for the Year Ended 31 July 2024

FINANCIAL REVIEW

Reserves policy

The Trustees recognise the need to have reserves in place to ensure the continuation of our work in the event of an unforeseen downturn. Our policy is to hold enough funds to meet six months operating costs of the Mosque, excluding the collection and distribution of Zakat, and of our community activities and programs. Our cash reserves are held in deposit accounts.

In setting up the charity's reserve policy, the trustees have identified various restricted funds as detailed in the Statement of Financial Activities (SOFA). The restricted funds are distributed strictly in accordance with the relevant restriction imposed on the fund.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is registered with the Charity Commission for England and Wales under charity registration number 1136945. The Trust is also a limited company, limited by guarantee, as defined by the Companies Act 2006 and therefore is controlled by its Articles and Memorandum of Association.

Charity constitution

The charity was initially established as an unincorporated charitable trust and registered with the Charity Commission on 16 August 1988 under number 299884. Following a review of the charity's structure, a charitable company was incorporated on 20th April 2010. The new incorporated charity was registered with the Charity Commission in 2010.

Recruitment and appointment of new trustees

Trustees are recruited based on their suitability to run the Charity in an effective manner. Considering such, the experience, qualifications, and skills of any incoming Trustees are considered as well as any previous community or charity experience. Trustees are appointed by majority resolution of the existing trustees. When a new trustee is appointed, a memorandum of his or her appointment is prepared and filed in accordance with the requisite procedures

Organisational structure

The Trustees (who are also Directors of Finsbury Park Mosque for the purpose of company law) are responsible for the overall operations of the charity. The trustees represent the key management personnel and receive no remuneration or other financial benefits. The Board of Trustees meets four times per year. Other ad hoc meetings and telephone conferences involving either the whole Board or selected members of the Board are also held as required. Office bearers, Chairman, Secretary and Treasurer, are responsible for the day to day running of the charity and manage the staff and volunteers of the charity on behalf of the trustees.

Conflict of interest

The Charity has internal policies and procedures in place to ensure that conflicts are noted and if needed mitigated or other action taken where appropriate. These policies extend to all partners in the Charity's area of operation.

Induction and training of new trustees

Following appointment, new trustees are introduced to their new role and given copies of the Memorandum of Association and the policies and regulations adopted by the Charity. New trustees are provided the opportunity of working with existing trustees to benefit from their experience. Charity Commission guidance is also provided to trustees as well as internal and external training to assist them in their role.

5

Finsbury Park Mosque

Report of the Trustees

for the Year Ended 31 July 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees have assessed the risks the charity faces and have drawn up a risk assessment which identifies the major risks by area of activity, the nature of those risks, the likelihood of those risks happening, and the measures taken to manage them. The trustees review this risk assessment from time to time.

The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks that have been identified. In particular, insurance cover is in place and the finances of the Mosque are kept under review. Appropriate Disclosures DBS checks, supported by regularly reviewed policies, are made for all those who work with children or other vulnerable groups within the Mosque or community centre.

The charity often works with potential third party organisations or partnerships, and the charity ensures that the identity of the proposed partner is verified and assessed prior to establishing any formal partnership relationship. The due diligence process includes a completion of due diligence forms and identity documents as well as a detailed appraisal using the relative sources and searches online. In the cases where issues are found, the charity undertakes comprehensive assessments to evaluate the level and scale of risk involved, prior to making any decisions. The charity endeavours to carry out regular checks on all active partners who receive funding from the charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07229018 (England and Wales)

Registered Charity number

1136945

Registered office

7-11 St. Thomas'S Road London N4 2QH

Trustees

Dr H A Ahmad Director (Resigned on 1[st] July 2024) M Hassan Management Consultant M A K Kozbar Project Manager K S Oumar Manager A Raje Company Director A I Barud

Company Secretary

K S Oumar

6

Finsbury Park Mosque

Report of the Trustees

for the Year Ended 31 July 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Merit Accountants and Tax Advisors Ltd Statutory Auditors 5 Brayford Square London E1 0SG

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Finsbury Park Mosque for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Merit Accountants and Tax Advisors Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 23 May 2025 and signed on its behalf by:

M A K Kozbar - Trustee

7

Report of the Independent Auditors to the Trustees of Finsbury Park Mosque

Opinion

We have audited the financial statements of Finsbury Park Mosque (the 'charitable company') for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

8

Report of the Independent Auditors to the Trustees of Finsbury Park Mosque

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

9

Report of the Independent Auditors to the Trustees of

Finsbury Park Mosque

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the environment in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. Our audit procedures were designed to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, financial reporting legislation, the Charities Act 2011 and UK pensions and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management regarding correspondence with regulators and tax authorities.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management bias in accounting estimates. We addressed the risk of management override of internal controls through testing journals. We evaluated whether there was evidence of bias by the directors in accounting estimates that represented a risk of material misstatement due to fraud. We challenged assumptions and judgements made by management in any significant accounting estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

10

Report of the Independent Auditors to the Trustees of Finsbury Park Mosque

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Merit Accountants and Tax Advisors Ltd Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 5 Brayford Square London E1 0SG

23 May 2025

11

Finsbury Park Mosque

Statement of Financial Activities for the Year Ended 31 July 2024

31.7.24
Unrestricted Restricted
Total
fund
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
253,942
27,903
281,845
Charitable activities
4
School (Madressa)
100,916
-
100,916
Hall hire
2,272
-
2,272
Investment income
3
7,782
-
7,782
Total
364,912
27,903
392,815
EXPENDITURE ON
Support costs
5
55,597
148,555
204,152
Charitable activities
6
Grant payments
5,500
13,500
19,000
Religious Events
25,743
10,464
36,207
School (Madressa)
91,079
-
91,079
Other
6,239
23,529
29,768
Total
184,158
196,048
380,206
NET INCOME/(EXPENDITURE)
180,754
(168,145)
12,609
RECONCILIATION OF FUNDS
Total funds brought forward
674,724
3,568,712
4,243,436
TOTAL FUNDS CARRIED FORWARD
855,478
3,400,567
4,256,045
31.7.23
Total
funds
£
302,871
101,315
8,530
6,369
419,085
210,931
44,521
28,860
76,923
30,176
391,411
27,674
4,215,762
4,243,436

The notes form part of these financial statements

12

Finsbury Park Mosque

Balance Sheet 31 July 2024

31.7.24
Unrestricted Restricted
Total
fund
funds
funds
Notes
£
£
£
FIXED ASSETS
Tangible assets
13
18,717
3,722,093
3,740,810
CURRENT ASSETS
Debtors
14
3,474
4,864
8,338
Cash at bank and in hand
842,743
(326,390)
516,353
846,217
(321,526)
524,691
CREDITORS
Amounts falling due within one year
15
(9,456)
-
(9,456)
NET CURRENT ASSETS
836,761
(321,526)
515,235
TOTAL ASSETS LESS CURRENT
LIABILITIES
855,478
3,400,567
4,256,045
NET ASSETS
855,478
3,400,567
4,256,045
FUNDS
16
Unrestricted funds
855,478
Restricted funds
3,400,567
TOTAL FUNDS
4,256,045
31.7.23
Total
funds
£
3,765,563
5,126
483,531
488,657
(10,784)
477,873
4,243,436
4,243,436
674,724
3,568,712
4,243,436

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The notes form part of these financial statements

13

continued...

Finsbury Park Mosque

Balance Sheet - continued

31 July 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2025 and were signed on its behalf by:

M A K Kozbar - Trustee

A Raje - Trustee

The notes form part of these financial statements

14

Finsbury Park Mosque

Notes to the Financial Statements

for the Year Ended 31 July 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

Judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants and gifts are recognised when receivable. In the event that a grant is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period.

Investment income is accounted for in the Statement of Financial Activities in the period in which the charity is entitled to receipt.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

15

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

1. ACCOUNTING POLICIES - continued

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Debtors and creditors

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. Accrued income is included at the best estimate of the amounts receivable at the balance sheet date.

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.

Going concern

In view of the financial performance and the reserves position as at the balance sheet date, the Board of Trustees have a reasonable expectation that the Charity will have the resources to continue in operational existence for the foreseeable future. The Trustees believe there are no material uncertainties that call into doubt the ability to continue as a going concern. The annual financial statements have therefore been prepared on the basis that the charity is a going concern.

16

continued...

Finsbury Park Mosque

Notes to the Financial Statements-continued
for the Year Ended 31 July 2024
2.
DONATIONS AND LEGACIES
Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Council & local authorities Grants
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
School fee income
School (Madressa)
Hall hire income
Hall hire		 31.7.24
£
208,121
3,474
70,250
281,845
31.7.24
£
13,750
13,750
31.7.24
£
7,782
31.7.24
£
100,916
2,272
103,188		 31.7.23
£
212,938
1,976
87,957
302,871
31.7.23
£
87,957
87,957
31.7.23
£
6,369
31.7.23
£
101,315
8,530
109,845

17

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

5. SUPPORT COSTS

Support costs 31.7.24
£
204,152		 31.7.23
£
210,931

6. CHARITABLE ACTIVITIES COSTS

Grant
funding of
activities
Direct
(see note
Costs
7)
£
£
Grant payments
-
19,000
Religious Events
25,743
-
School (Madressa)
75,569
-
101,312
19,000
GRANTS PAYABLE
Grant payments
The total grants paid to institutions during the year was as follows:
Grant payment to UK institutions for general charitable
purposes		 Support
costs (see
note 8)
£
-
-
15,510
15,510
31.7.24
£
19,000
31.7.24
£
19,000		 Totals
£
19,000
25,743
91,079
135,822
31.7.23
£
44,521
31.7.23
£
44,521

7. GRANTS PAYABLE

The grant payments are made to various UK based charitable institutions including Muslim Council of Britain, Al Amal Foundation, African Development Trust, Asian Muslim Humanitarian Association, International Waqf & Relief, Bayt Ul Maqdis Foundation, Al-Abrar Foundation, Islamic Relief UK, Wafa Relief, Ataa Relief, Tiseer Welfare Trust, and IF Charity.

18

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

8. SUPPORT COSTS

Management
£
Support and
operational costs
184,399
School (Madressa)
15,510
199,909		 Finance
£
2,370
-
2,370		 Governance
Other
costs
£
£
8,066
9,317
-
-
8,066
9,317		 Totals
£
204,152
15,510
219,662

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets 31.7.24
£
29,768		 31.7.23
£
30,175

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.

11. STAFF COSTS

Wages and salaries 31.7.24
£
124,414
124,414		 31.7.23
£
101,751
101,751

The average monthly number of employees during the year was as follows:

Charitable activities
Mosque
School teachers		 31.7.24
1
5
6
12		 31.7.23
1
5
4
10

No employees received emoluments in excess of £60,000.

19

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 215,479 87,392 302,871
Charitable activities
School (Madressa) 101,315 - 101,315
Hall hire 8,530 - 8,530
Investment income 6,369 - 6,369
Total 331,693 87,392 419,085
EXPENDITURE ON
Support costs 52,537 158,394 210,931
Charitable activities
Grant payments 33,321 11,200 44,521
Religious Events 18,457 10,403 28,860
School (Madressa) 76,923 - 76,923
Other 6,647 23,529 30,176
Total 187,885 203,526 391,411
NET INCOME/(EXPENDITURE) 143,808 (116,134) 27,674

20

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

13.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 August 2023
3,921,494
Additions
-
At 31 July 2024
3,921,494
DEPRECIATION
At 1 August 2023
175,872
Charge for year
23,529
At 31 July 2024
199,401
NET BOOK VALUE
At 31 July 2024
3,722,093
At 31 July 2023
3,745,622
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accrued expenses
Fixtures
and
fittings
£
71,052
5,016
76,068
51,111
6,239
57,350
18,717
19,940
31.7.24
£
3,474
4,864
8,338
31.7.24
£
650
749
8,057
9,456
Totals
£
3,992,546
5,016
3,997,562
226,983
29,768
256,751
3,740,810
3,765,562

31.7.23
£
-
5,126
5,126

31.7.23
£
-
282
10,502
10,784

21

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Mosque Fund
Zakaat Fund
Ramadhan Fund
TOTAL FUNDS		 At 1.8.23
£
674,724
3,553,374
8,490
6,848
3,568,712
4,243,436		 Net
movement
At

in funds
31.7.24
£
£
180,754
855,478
(162,578)
3,390,797
2,923
11,413
(8,490)
(1,642)
(168,145)
3,400,568
12,609
4,256,045

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Mosque Fund
Zakaat Fund
Ramadhan Fund
TOTAL FUNDS		 Incoming
resources
£
364,912
9,507
16,423
1,973
27,903
392,815		 Resources
expended
£
(184,158)
(172,084)
(13,500)
(10,463)
(196,047)
(380,205)		 Movement
in funds
£
180,754
(162,578)
2,923
(8,490)
(168,145)
12,609

The unrestricted funds are the receipts and expenditure of the charity for its objectives without specific restriction on its use. The unrestricted fund also includes all income and expenses from the school (madressa) activity.

Restricted funds includes mosque fund, zakaat fund and Ramadhan fund.

Mosque fund represents the mosque property and all receipts and expenditure in relation to the running of the mosque.

Zakaat fund includes receipts and expenditure used to provide relief and poverty aid to the needy.

Ramadhan fund includes receipts and expenditure used for providing iftar catering and various religious events during Ramadhan.

22

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Mosque Fund
Zakaat Fund
Ramadhan Fund
TOTAL FUNDS		 At 1.8.22
£
530,916
3,685,151
4,343
(4,648)
3,684,846
4,215,762		 Net
movement
At
in funds
31.7.23
£
£
143,808
674,724
(131,777)
3,553,374
4,147
8,490
11,496
6,848
(116,134)
3,568,712
27,674
4,243,436

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Mosque Fund
Zakaat Fund
Ramadhan Fund
TOTAL FUNDS		 Incoming
resources
£
331,693
50,146

15,347
21,899
87,392
419,085		 Resources
expended
£
(187,885)
(181,923)
(11,200)
(10,403)
(203,526)
(391,411)		 Movement
in funds
£
143,808
(131,777)
4,147
11,496
(116,134)
27,674

23

continued...

Finsbury Park Mosque

Notes to the Financial Statements - continued

for the Year Ended 31 July 2024

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2024.

24

Finsbury Park Mosque

Detailed Statement of Financial Activities
for the Year Ended 31 July 2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Investment income
Deposit account interest
Charitable activities
School fee income
Hall hire income
Total incoming resources
EXPENDITURE
Charitable activities
School expenses
Ramadhan iftar
Event costs
Grants to institutions
Other
Freehold property
Fixtures and fittings
Support costs
Management
Wages
Rates and water
Insurance
Light and heat
Telephone
Carried forward		 31.7.24
£
208,121
3,474
70,250
281,845
7,782
100,916
2,272
103,188
392,815
75,569
10,464
25,743
19,000
130,776
23,529
6,239
29,768
124,414
1,263
5,125
42,844
852
174,498		 31.7.23
£
212,938
1,976
87,957
302,871
6,369
101,315
8,530
109,845
419,085
58,171
10,403
18,457
44,521
131,552
23,529
6,647
30,176
101,751
691
4,284
37,519
756
145,001

This page does not form part of the statutory financial statements

25

Finsbury Park Mosque

Detailed Statement of Financial Activities
for the Year Ended 31 July 2024
Management
Brought forward
Postage and stationery
Subscriptions
Repairs & renewals
Computer & website costs
Finance
Bank charges
Other
Travel & subsistence
Cleaning
Sundries
Advertising
Governance costs
Professional fees
Audit fees
Accountancy fees
Total resources expended
Net income		 31.7.24
£
174,498
511
612
19,550
4,737
199,908
2,371
-
1,460
6,606
-
8,066
777
3,000
5,540
9,317
380,206
12,609		 31.7.23
£
145,001
977
590
60,213
526
207,307
2,276
170
781
3,757
1,792
6,500
2,280
3,000
8,320
13,600
391,411
27,674

This page does not form part of the statutory financial statements

26