2024-03-30-accounts

Edgware Islamic Cultural Trust

(A Company Limited by Guarantee)

Trustees' Annual Report

For the Year Ended 31[st] March 2024

Corporate Details

Edgware Islamic Cultural Trust

82 Chandos Crescent, Edgware HA8 6HL

[e-mail]

www.edgwareict.org.uk

Company Number: 07208577

Charity Number 1137809

Incorporated on 30 March 2010

Trustees (Directors)

Mohammed Naveed Hussain (Chair)

Malik Abdul Aziz

Billal Khawaja

Ferhan Mehdi

Muhammad Mostafizur Rahman

Zafry Mohamed Zubair Mohamed

Table of Contents :

Table of Contents :

1. Introduction

2. Trustees' Report

3. Financial Statement

4. Notes to the Financial Statements

5. Independent Examiner’s Report to the Trustees and Member

6. Conclusion

Page 1 of 9

1. Introduction

Dear Members and Supporters,

We are delighted to present the Trustees' Annual Report for the year ending 31st March 2024 on behalf of Edgware Islamic Cultural Trust. This comprehensive report offers an overview of our activities, achievements, and financial performance over the past year. We are steadfast in our commitment to transparency and accountability across all facets of our organisation, and it is our hope that this report reflects our unwavering dedication to fulfilling our mission.

2. Trustees' Report

2.1. Overview

Edgware Islamic Cultural Trust, situated in the heart of Edgware HA8, United Kingdom, is a small mosque with a profound mission: to serve the spiritual and community needs of our congregation. Our activities encompass religious services, education and training, social welfare, community cohesion, and charitable initiatives aimed at bettering society. Over the past year, we have diligently pursued these objectives to the best of our abilities.

2.2. Objectives and Activities

Our primary objectives during the year included:

• Providing a dedicated space for daily prayers, Friday congregational prayers, and special religious events.

• Offering educational programs and classes to foster Islamic learning and values.

• Promote and aid structured Islamic learning

• Coordinating community outreach and charitable endeavours.

• Upholding our commitment to inclusivity, diversity, and interfaith engagement.

2.3. Governance

Our organisation is underpinned by a dedicated group of trustees who volunteer their time and expertise to oversee our operations. We uphold the principles of good governance and work diligently to ensure the effectiveness of our governance structures in compliance with the relevant UK laws and regulations.

2.4. Achievements and Performance

Throughout the past year, we achieved several noteworthy milestones, including:

Page 2 of 9

Over the past year, we have reached several key milestones that have strengthened our community, enhanced engagement, and ensured the long-term sustainability of our mosque. Notable achievements include:

• Strategic Property Acquisition: We successfully purchased the flat directly above the mosque for £312,000, a crucial step in safeguarding the mosque’s future. This acquisition, now an asset for the community, was primarily funded through a £234,000 interest-free Qarza Hasna loan and £78,000 in donations.

• Enhanced Online Presence: We expanded our reach by actively engaging on social media platforms and live-streaming events, allowing us to connect with a broader audience.

• Regular Educational Programs: We introduced weekly learning sessions led by a local scholar, providing structured Islamic education for the community.

• Strengthened Community Engagement: We launched a WhatsApp broadcast group to share lectures and Friday Khutbahs, ensuring regular spiritual nourishment for members.

• Community-Building Initiatives: We organised Eid prayers in the park, offering free sweets to attendees, and participated in local interfaith dialogues to foster understanding and unity.

• Youth and Family Programs: Our youth engagement efforts continue to grow, including pizza evenings for parents and children and dedicated events for both brothers and sisters, promoting social and spiritual well-being.

• Charitable Commitments: We have maintained and expanded our charitable efforts, supporting vulnerable individuals and families within our community.

These milestones reflect our dedication to strengthening the mosque’s role as a hub for faith, learning, and community support.

2.5. Financial Review

Edgware Islamic Cultural Trust is committed to financial transparency. Our financial statements for the year ending 31st March 2024 have been meticulously prepared in accordance with the Charities SORP (Statement of Recommended Practice) and are fully compliant with the Charity Commission's regulations. For detailed financial information, please refer to the attached financial statements and accompanying notes.

2.5 Structure, Governance and Management

Edgware Islamic Cultural Trust operates as a company limited by guarantee, adhering to its Articles of Association. The Trust's membership elects six trustees, who, in turn, may appoint additional trustees based on their expertise. These trustees serve as the company directors according to company law and do not receive remuneration.

The Board of Trustees typically convenes monthly, holding 12 meetings during this reporting period. The Board retains ultimate oversight of financial controls, risk management, significant developments, and ensuring that the Trust operates in alignment with its Articles of Association, charity law, other legal requirements, and best practices.

Page 3 of 9

2.6 Statement of Trustees’ Responsibilities

The trustees, also acting as directors of Edgware Islamic Cultural Trust for company law purposes, are responsible for preparing the Trustees' Annual Report, including the financial statements, in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law mandates the preparation of financial statements for each financial year that provide a true and fair view of the charitable company's financial position, incoming resources, application of resources (including income and expenditure) for that period. In preparing these financial statements, the trustees are bound to:

• Select appropriate accounting policies and consistently apply them.

• Adhere to the methods and principles outlined in the Charities SORP 2015.

• Make reasonable and prudent judgments and estimates.

• Confirm whether applicable accounting standards have been followed, except for any significant departures disclosed and explained in the financial statements.

• Prepare the financial statements on a going concern basis unless it is inappropriate to assume the charitable company will continue operating.

The Board of Trustees is responsible for maintaining accurate accounting records that provide a reasonably accurate reflection of the charitable company's financial position at any given time, enabling them to ensure the financial statements comply with the Companies Act 2006. Additionally, they are responsible for safeguarding the company's assets and taking reasonable measures to prevent and detect fraud and other irregularities.

Each individual serving as a director/trustee at the time of this report's approval affirms that:

• No relevant financial information exists of which the company's accountants are unaware.

• They have taken all necessary steps to familiarise themselves with any pertinent information and to confirm the company's accountants' awareness of that information.

The Trustees’ Annual Report and Financial statements were approved by the Board of Trustees (in their capacity as company directors) on 1[st] July 2023 and signed on its behalf by:

Malik Abdul Aziz

Trustee / Director of Edgware Islamic Cultural Trust

Page 4 of 9

1. Financial Statement EDGWARE XSLAMIC CULTVIiAL TRUST Detsiled Income and Expenditure Account For The Y••r Ended 31 March 2024 2014 srAFF COSTS a￿r5 14.Qt6 1,501 12.2J9 {15.5071 112.863> OTMEA CbbARGIS 1156.185) (37.6981 Rent 8,7 1.257 J,599 11.966 1,109 1.034 Rates ght he4t 11.631 14.109 General •dmmrtratA)n costs" Conwtep sthare. •nd m•lrrtwwce Rewrs. renew•als and m•rtvwn¢¥ 278 7.144 2Q3 4,542 185 306 730 Prliiti11g, 0091w ond stslthl•ry AdvertrsiThJ and mwkeling costs Inin9 $4friNrs ana w¢rtshops T•kn"ornmuni(atiMs costi Le9￿ fees 231 721 275 1.481 1,4B3 1.885 397 276 $,647 Cnaiitable dono¢b￿s 11.806 9,73 r SiMPLVS/(DEFicrr} I3,06￿) Page5of9

eDGWARE ISLAMIC CVLTURAL TRUST Balance Sheet AJ At 31 Harth 2024 2014 2023 a55prs 3ll.lJQ 13,762 14.465 13.762 14.465 TOTAL ASKTS (ESS CURAFIIT LIA•ILmes 325,762 14,465 Credrtora: ArnoL￿ts F•lry After kn Than Or Y••r 1195.23DI PIET ASSETS IXS.532 SIRVfS 13Q.532 I, G•nw•l Znlorm•¢loA EOGWAkE I￿Al￿[c CULnJuc TRIM 6 • cornpany. I mitec ay 9UaWt•e, irtcorporè=od In Ert44a￿ • wèkn, repstw•d n￿rn￿r UiJDtISlJ, The re9t5tved offic¢ s 82 CWIDOS CRF5CH41, ÈOGWARE, MIDC4 FSEX, HAiI 6HL. 2. Averng¢ Iluner ￿ eryk¥y¢e• A￿"10e Nmber of etr4oyees, "-¢knng O¥tdm. the ye•r f41L (2023: NIL) 3. Cofflp•ny by 9u•rMt•• The compan? Is 11rnit￿$ by 9bo?nt•• arn1 fws ￿ sh¥• (￿￿1. Evtry rnemtyer d the Ur￿rt•llÉS to iht assets rl tht tornpany. In tht e¥trt al • YwJir4J up, SLxh n nwjurtt be Ttowed not exce•lry £1. 11306 to sTr•11 cvnwi•S. The diportats acknowlec9E Ihur rtwn51bilths for ttnflylrwJ Trth the tho Att *th rt5P&t tts •tthurti reLDwdJ wd the pfvpdr4￿OTh o14Kcounls (kn beb•lf d the bo•rd Mr MAUK ABDUL AZIZ Dir•ct 3011212024 Page6of9

4. Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting Policies

1.1 Basis of Accounting

The financial statements have been prepared under the historic cost convention and in accordance. with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) Issued in March 2005, and applicable to UK Accounting Standards and the Charities Act 1993.

1.2 Incoming Resources

Unrestricted funds are those are received by way of donations at their own discretion and the trustees are free to use these funds for any purpose in advancement of the charity and charitable. objects.

Restricted funds are those to be used in accordance with specific restrictions imposed by the donor and for the purpose which donation was collected.

1.3 Resources Expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. All expenditures are taken into consideration on an accrual’s basis and have been classified under appropriate heading in the statement of financial activities.

1.4 Value Added Tax

Value added tax is not recoverable by the charity and charged against the category of the resources expended for which it was incurred.

1.5 Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided to write off cost of the asset over its expected useful life. The following rates apply:-

Fixtures and Equipment - 10% straight line

Page 7 of 9

5. Independent Examiner’s Report to the Trustees and Member

EDGWARE ISLAMIC CULTRUAL TRUST

We report on the financial statements of Edgware Islamic Cultural Trust for the year ended

31[st] March 2024, which set out on pages 5 to 7.

Respective Responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees

consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the

charities Act) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of the Charities Act,

• to follow the procedures laid down in the general Directions given by the Charity.

• Commission (under section 145(5)(b) of the Charities Act, and

• to state whether particular matters have come to my attention.

Basis on Independent Examiner’s Statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

1. Which gives me reasonable cause to believe that in, any material respect, the requirements:

2. to keep accounting records in accordance with section 130 of the Charities Act; and

3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mr M R Miah FFA FFTA FPA FAIA

Runu & Co Group Ltd,

65a Station Road, Edgware, Middlesex, HA8 7HX, 1[ST] July 2023

Page 8 of 9

6. Conclusion

In conclusion, we extend our deepest appreciation to our members, donors, volunteers, and the broader community for their unwavering support. Your generosity and commitment have allowed Edgware Islamic Cultural Trust to continue its vital work in serving the community and fostering understanding and unity.

If you have any questions or would like more information about our organisation's activities or finances, please do not hesitate to contact us at [e-mail].

Sincerely,

Mohammed Naveed Hussain Chairperson, Board of Trustees

15[th] July 2024

Page 9 of 9