REGISTERED CHARITY NUMBER: 1137829
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024
for
Borehamwood Islamic Society
Borehamwood Islamic Society
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
Borehamwood Islamic Society
for the Year Ended 31 March 2024
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 March 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).
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
13 Jan 2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Ut. Sabgue M Salique - Trustee
Page 1
Independent Examiner's Report to the Trustees of Borehamwood Islamic Society
Independent examiner's report to the trustees of Borehamwood Islamic Society
I report to the charity trustees on my examination of the accounts of Borehamwood Islamic Society (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
PAT SHARMA The Association of Chartered Certified Accountants
10 January 2025
Page 2
Borehamwood Islamic Society
| Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 102,649 EXPENDITURE ON Charitable activities Charitable Activities 65,381 NET INCOME 37,268 RECONCILIATION OF FUNDS Total funds brought forward 156,664 TOTAL FUNDS CARRIED FORWARD 193,932 |
31.3.23 Total funds £ 68,586 51,915 16,671 139,993 156,664 |
|---|---|
The notes form part of these financial statements
Page 3
Borehamwood Islamic Society
Balance Sheet 31 March 2024
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 195,917 | 156,664 | |
| CREDITORS | |||
| Amounts falling due within one year | 4 | (1,985) | - |
| NET CURRENT ASSETS | 193,932 | 156,664 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 193,932 | 156,664 | |
| NET ASSETS | 193,932 | 156,664 | |
| FUNDS | 5 | ||
| Unrestricted funds | 193,932 | 156,664 | |
| TOTAL FUNDS | 193,932 | 156,664 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
UW. ............................................. Sabgue M Salique - Trustee
The notes form part of these financial statements
Page 4
Borehamwood Islamic Society
Notes to the Financial Statements for the Year Ended 31 March 2024
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 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Page 5
continued...
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Charitable Activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and social security Other creditors 5. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 156,664 TOTAL FUNDS 156,664 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 102,649 TOTAL FUNDS 102,649 |
Unrestricted fund £ 68,586 51,915 16,671 139,993 156,664 31.3.24 31.3.23 £ £ 785 - 1,200 - 1,985 - Net movement At in funds 31.3.24 £ £ 37,268 193,932 37,268 193,932 Resources Movement expended in funds £ £ (65,381) 37,268 (65,381) 37,268 |
|---|---|
Page 6
continued...
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 139,993 139,993 |
Net movement in funds £ 16,671 16,671 |
At 31.3.23 £ 156,664 156,664 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 68,586 | (51,915) | 16,671 |
| TOTAL FUNDS | 68,586 | (51,915) | 16,671 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 139,993 139,993 |
Net movement in funds £ 53,939 53,939 |
At 31.3.24 £ 193,932 193,932 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 171,235 171,235 |
Resources Movement expended in funds £ £ (117,296) 53,939 (117,296) 53,939 |
|---|---|---|
continued...
Page 7
Borehamwood Islamic Society
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 8
Borehamwood Islamic Society
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
| Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | - | 1 |
| Donations | 97,710 | 67,181 |
| Gift aid | 4,939 | 1,404 |
| 102,649 | 68,586 | |
| Total incoming resources | 102,649 | 68,586 |
| EXPENDITURE | ||
| Charitable activities | ||
| Subscriptions | - | 48 |
| Insurance | 937 | 927 |
| Light and heat | 1,211 | 1,216 |
| Telephone | 148 | 216 |
| Hertsmere | 16,608 | 16,577 |
| Supplies | 5,926 | 769 |
| Grants to institutions | 20,648 | 1,410 |
| Grants to individuals | 2,596 | 11,031 |
| 48,074 | 32,194 | |
| Support costs | ||
| Management | ||
| Wages | 14,413 | 18,050 |
| Social security | 1,694 | 610 |
| Accountancy | 1,200 | 1,061 |
| 17,307 | 19,721 | |
| Total resources expended | 65,381 | 51,915 |
| Net income | 37,268 | 16,671 |
This page does not form part of the statutory financial statements
Page 9