REGISTERED CHARITY NUMBER: 1137829
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Borehamwood Islamic Society
Borehamwood Islamic Society
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 7 |
| Detailed Statement of Financial Activities | 8 |
Borehamwood Islamic Society
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1137829
Principal address
Maxwell Park Maxwell Road Borehamwood WD6 1JJ
Trustees
M Salique O I KADWANI S S HAYATH S A HAYAT A ISLAM S AHMED S ALAM S B HAYATH
Approved by order of the board of trustees on 24 January 2024 and signed on its behalf by:
M Salique - Trustee
Page 1
Borehamwood Islamic Society
Statement of Financial Activities for the Year Ended 31 March 2023
| 31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 68,586 EXPENDITURE ON Charitable activities Charitable Activities 51,915 Other - Total 51,915 NET INCOME 16,671 RECONCILIATION OF FUNDS Total funds brought forward 139,993 TOTAL FUNDS CARRIED FORWARD 156,664 |
31.3.22 Total funds £ 84,096 |
|---|---|
| 31,016 1,957 |
|
| 32,973 | |
| 51,123 88,870 |
|
| 139,993 |
The notes form part of these financial statements
Page 2
Borehamwood Islamic Society
Balance Sheet
31 March 2023
| 31.3.23 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 156,664 NET CURRENT ASSETS 156,664 TOTAL ASSETS LESS CURRENT LIABILITIES 156,664 NET ASSETS 156,664 FUNDS 4 Unrestricted funds 156,664 TOTAL FUNDS 156,664 |
31.3.22 Total funds £ 139,993 |
|---|---|
| 139,993 | |
| 139,993 | |
| 139,993 | |
| 139,993 | |
| 139,993 |
The financial statements were approved by the Board of Trustees and authorised for issue on 24 January 2024 and were signed on its behalf by:
M Salique - Trustee
The notes form part of these financial statements
Page 3
Borehamwood Islamic Society
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
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.
Taxation
The charity is exempt from 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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...
Page 4
Borehamwood Islamic Society
| Notes to the Financial Statements-continued for the Year Ended 31 March 2023 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Charitable Activities Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 139,993 TOTAL FUNDS 139,993 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 68,586 TOTAL FUNDS 68,586 |
Unrestricted fund £ 84,096 31,016 1,957 32,973 51,123 88,870 139,993 Net movement At in funds 31.3.23 £ £ 16,671 156,664 16,671 156,664 Resources Movement expended in funds £ £ (51,915) 16,671 (51,915) 16,671 |
|---|---|
Page 5
continued...
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
4. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.21 £ Unrestricted funds General fund 88,870 TOTAL FUNDS 88,870 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 84,096 TOTAL FUNDS 84,096 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.21 £ Unrestricted funds General fund 88,870 TOTAL FUNDS 88,870 |
Net movement At in funds 31.3.22 £ £ 51,123 139,993 51,123 139,993 Resources Movement expended in funds £ £ (32,973) 51,123 (32,973) 51,123 Net movement At in funds 31.3.23 £ £ 67,794 156,664 67,794 156,664 |
Net movement At in funds 31.3.22 £ £ 51,123 139,993 51,123 139,993 Resources Movement expended in funds £ £ (32,973) 51,123 (32,973) 51,123 Net movement At in funds 31.3.23 £ £ 67,794 156,664 67,794 156,664 |
|---|---|---|
| 156,664 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 152,682 | (84,888) | 67,794 |
| TOTAL FUNDS | 152,682 | (84,888) | 67,794 |
Page 6
continued...
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 7
Borehamwood Islamic Society
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | 1 |
| Donations | 67,181 | 84,095 |
| Gift aid | 1,404 | - |
| 68,586 | 84,096 | |
| Total incoming resources | 68,586 | 84,096 |
| EXPENDITURE | ||
| Charitable activities | ||
| Subscriptions | 48 | - |
| Insurance | 927 | - |
| Light and heat | 1,216 | 400 |
| Telephone | 216 | 183 |
| Hertsmere | 16,577 | 15,109 |
| Supplies | 769 | 587 |
| Grants to institutions | 1,410 | 1,188 |
| Grants to individuals | 11,031 | - |
| 32,194 | 17,467 | |
| Other | ||
| Legal costs | - | 1,957 |
| Support costs | ||
| Management | ||
| Wages | 18,050 | 11,640 |
| Social security | 610 | 306 |
| Insurance | - | 914 |
| Accountancy | 1,061 | 689 |
| 19,721 | 13,549 | |
| Total resources expended | 51,915 | 32,973 |
| Net income | 16,671 | 51,123 |
This page does not form part of the statutory financial statements
Page 8
REGISTERED CHARITY NUMBER: 1137829
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Borehamwood Islamic Society
Borehamwood Islamic Society
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 7 |
| Detailed Statement of Financial Activities | 8 |
Borehamwood Islamic Society
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1137829
Principal address
Maxwell Park Maxwell Road Borehamwood WD6 1JJ
Trustees
M Salique O I KADWANI S S HAYATH S A HAYAT A ISLAM S AHMED S ALAM S B HAYATH
Approved by order of the board of trustees on 24 January 2024 and signed on its behalf by:
M Salique - Trustee
Page 1
Borehamwood Islamic Society
Statement of Financial Activities for the Year Ended 31 March 2023
| 31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 68,586 EXPENDITURE ON Charitable activities Charitable Activities 51,915 Other - Total 51,915 NET INCOME 16,671 RECONCILIATION OF FUNDS Total funds brought forward 139,993 TOTAL FUNDS CARRIED FORWARD 156,664 |
31.3.22 Total funds £ 84,096 |
|---|---|
| 31,016 1,957 |
|
| 32,973 | |
| 51,123 88,870 |
|
| 139,993 |
The notes form part of these financial statements
Page 2
Borehamwood Islamic Society
Balance Sheet
31 March 2023
| 31.3.23 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 156,664 NET CURRENT ASSETS 156,664 TOTAL ASSETS LESS CURRENT LIABILITIES 156,664 NET ASSETS 156,664 FUNDS 4 Unrestricted funds 156,664 TOTAL FUNDS 156,664 |
31.3.22 Total funds £ 139,993 |
|---|---|
| 139,993 | |
| 139,993 | |
| 139,993 | |
| 139,993 | |
| 139,993 |
The financial statements were approved by the Board of Trustees and authorised for issue on 24 January 2024 and were signed on its behalf by:
M Salique - Trustee
The notes form part of these financial statements
Page 3
Borehamwood Islamic Society
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
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.
Taxation
The charity is exempt from 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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...
Page 4
Borehamwood Islamic Society
| Notes to the Financial Statements-continued for the Year Ended 31 March 2023 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Charitable Activities Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 139,993 TOTAL FUNDS 139,993 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 68,586 TOTAL FUNDS 68,586 |
Unrestricted fund £ 84,096 31,016 1,957 32,973 51,123 88,870 139,993 Net movement At in funds 31.3.23 £ £ 16,671 156,664 16,671 156,664 Resources Movement expended in funds £ £ (51,915) 16,671 (51,915) 16,671 |
|---|---|
Page 5
continued...
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
4. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.21 £ Unrestricted funds General fund 88,870 TOTAL FUNDS 88,870 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 84,096 TOTAL FUNDS 84,096 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.21 £ Unrestricted funds General fund 88,870 TOTAL FUNDS 88,870 |
Net movement At in funds 31.3.22 £ £ 51,123 139,993 51,123 139,993 Resources Movement expended in funds £ £ (32,973) 51,123 (32,973) 51,123 Net movement At in funds 31.3.23 £ £ 67,794 156,664 67,794 156,664 |
Net movement At in funds 31.3.22 £ £ 51,123 139,993 51,123 139,993 Resources Movement expended in funds £ £ (32,973) 51,123 (32,973) 51,123 Net movement At in funds 31.3.23 £ £ 67,794 156,664 67,794 156,664 |
|---|---|---|
| 156,664 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 152,682 | (84,888) | 67,794 |
| TOTAL FUNDS | 152,682 | (84,888) | 67,794 |
Page 6
continued...
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 7
Borehamwood Islamic Society
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | 1 |
| Donations | 67,181 | 84,095 |
| Gift aid | 1,404 | - |
| 68,586 | 84,096 | |
| Total incoming resources | 68,586 | 84,096 |
| EXPENDITURE | ||
| Charitable activities | ||
| Subscriptions | 48 | - |
| Insurance | 927 | - |
| Light and heat | 1,216 | 400 |
| Telephone | 216 | 183 |
| Hertsmere | 16,577 | 15,109 |
| Supplies | 769 | 587 |
| Grants to institutions | 1,410 | 1,188 |
| Grants to individuals | 11,031 | - |
| 32,194 | 17,467 | |
| Other | ||
| Legal costs | - | 1,957 |
| Support costs | ||
| Management | ||
| Wages | 18,050 | 11,640 |
| Social security | 610 | 306 |
| Insurance | - | 914 |
| Accountancy | 1,061 | 689 |
| 19,721 | 13,549 | |
| Total resources expended | 51,915 | 32,973 |
| Net income | 16,671 | 51,123 |
This page does not form part of the statutory financial statements
Page 8
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees Charity Name Borehamwood Islamic Society On accounts for the year 31/03/2023 Charity no 1137829 ended (if any) Set out on pages 1-8 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2023. Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent [The charity’s gross income exceeded £25,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of ACCA.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Date: 29/01/2024
Signed: Name: Pat Sharma Relevant professional Association of Chartered Certified Accountants (ACCA) qualification(s) or body
Oct 2018
1
IER
(if any):
Address:
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
Oct 2018
2
IER