Sri Lankan Muslim Foundation Leicester
39 Edgehill Road, Leicester, LE4 9EA
TRUSTEES’ AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024
Charity no: 1137869
Sri Lankan Muslim Foundation Leicester For the year ended 31[th] March 2024
CONTENTS
| Charity Information | 1 |
|---|---|
| Trustees Report | 2 |
| Statement of Trustees Responsibility | 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Income and Expenditure Statement | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 - 9 |
Sri Lankan Muslim Foundation Leicester For the year ended 31[th] March 2024
CHARITY INFORMATION
| Trustees | Fazlan Abdul Samad |
|---|---|
| Fawas Mohamed Farook | |
| Mohamed Aslam Jamaldeen | |
| Nisaf Rasheed | |
| Mujahir Mohamed | |
| Mohamed Fahir Samadu | |
| Mohammed Imthiyas Abdul Gaffor | |
| Nisfer Zubair | |
| Zahras Mohamed Duwahir | |
| M Shajid Mohideensha | |
| Mohamed Nilam Mohamed Sadurdeen | |
| Registered Number | 1137869 |
| Registered Office | 39 Edgehill Road |
| Leicester | |
| LE4 9EA | |
| United Kingdom | |
| Accountant | Tally Tax Accountants Ltd |
| 40 Ash Tree Road | |
| Oadby | |
| Leicester | |
| LE2 5YB | |
| United Kingdom | |
| Bankers | Metro Bank |
| Haymarket, Leicester Branch | |
| Barclays Bank Plc | |
| Belgrave Road, Leicester Branch |
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Sri Lankan Muslim Foundation Leicester For the year ended 31[th] March 2024
STATEMENT OF TRUSTEES RESPONSIBILITY
The Trustees are responsible to prepare the annual report and financial statements for each financial period, which give a true & fair view of the state of affairs of the charity and of the deficit or surplus income for that period. In preparing those financial statements, the trustees are required to:
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Select suitable accounting policies & then apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the firm will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Charities Act 1993. They have general responsibility for taking such steps is reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
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Sri Lankan Muslim Foundation Leicester For the year ended 31[th] March 2024
INDEPENDENT EXAMINER’S REPORT ON THE UNAUDITED FINANCIAL STATEMENTS
We have prepared the financial statements of Sri Lankan Muslim Foundation Leicester for the year ended 31 March 2024 which comprises of the statement of financial activities, the balance sheet and the associated notes.
Respective responsibilities of trustees and independent accountant
As the charity’s trustees you are responsible for the preparation of the accounts, which you appointed us under section 43 of the Charities Act 1993 and report in accordance with regulations made under section 44 of that Act. It is our responsibility to examine and express the opinion on the financial statement.
Opinion on the financial statements
My assessment gave reasonable assurance that the financial records kept by the charity are free from material misstatement, whether caused by fraud or error. 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 or fair view’ and the report is limited to those matters set out in the statement below.
We have nothing to report in respect of the following matters where the Charities Act 1993 requires us to report to you if, in our opinion
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The information given in the Trustees’s Annual Report is inconsistent in any material respect with the financial statements; or
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Sufficient accounting records have not been kept; or
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The financial statements are not in agreement with the accounting records and returns; or
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We have not received all the information and explanations we require.
Aamir Parkar Independent Examiner Tally Tax Accountants Ltd 40 Ash Tree Road Oadby Leicester LE2 5YB
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SRI LANKAN MUSLIM FOUNDATION LEICESTER
Statement of Financial Activities
For the period 01/04/2023 ending 31/03/2024
| Notes Incoming resources Voluntary income 2 Resources expended Governance costs 3 Total funds bought forward |
Unrestricted funds £ 223,075 223,075 77,671 77,671 311,222 456,626 |
2024 £ 223,075 223,075 77,671 77,671 311,222 456,626 |
2023 £ 59,013 |
|---|---|---|---|
| 59,013 | |||
| 68,034 | |||
| 68,034 | |||
| 320,243 | |||
| 311,222 |
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SRI LANKAN MUSLIM FOUNDATION LEICESTER
Income and Expenditure Statement
For the period 01/04/2023 ending 31/03/2024
| Income Cost of Sales Total income Operating expenditure Operating surplus/(deficit) Interest payable and similar charges Surplus Income |
2024 2023 223,075 59,013 223,075 59,013 ( 77,671 ) ( 66,884 ) 145,404 7,871 - - - 145,404 7,871 - |
|---|---|
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| Notes | 2024 | 2023 | |
|---|---|---|---|
| Fixed Assets: | |||
| TangibleAssets | 4 | 598,776 | 318.145 |
| CurrentAsscts: | |||
| Cash at bank and in hand | 78,525 | 29,234 | |
| Debtors | 25.000 | ||
| ClosingStock | 882 | ||
| Creditors:amountfalling | 5 | 161.533 | 2.897 |
| due withinonyear | |||
| Netcurrentassets | 515,768 | 344,482 | |
| Funds | |||
| Unrestricted income funds | 6 | 515,768 | 370.364 |
| S15.768 | 370.364 |
Sri Lankan Muslim Foundation Leicester For the year ended 31st March 2024
Notes to the financial statements
1. Accounting Policies
a) Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities published in 2005 and applicable UK Accounting Standards and the Charities Act 1993.
b) Incoming resources
All incoming resources are included in the SOFA statement of financial activities when charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Income has been generated to subscriptions and donations and is included in full in the SOFA.
c) Resources expended
All expenditure is accounted on an accrual basis and has been classified as liability.
Costs of generating funds incurred in seeking voluntary contributions.
d) Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is calculated to write off the cost less residual value of each asset over its useful life, as follows:
Land and buildings: Straight line basis at 1%
2. Voluntary income
| 2. Voluntary income | ||
|---|---|---|
| Unrestricted | 2023 | |
| Funds | Total | |
| £ | £ | |
| Class income | 25,932 | 25,932 |
| Donations | 184,850 | 184,850 |
| Subscriptions | 8,938 | 8,938 |
| Sales - Transceivers | 1,155 | 1,155 |
| Rental Income | 3,200 | 3,200 |
3. Governance cost
| Cost of sales Establishment – Rates & water Establishment – Light & heat Establishment – Repairs Professional – Accountancy fees Office expenses – Printing, Postage & Stationery Other charges – Bank charges & Sundries Depreciation & impairment |
Unrestricted Funds Total £ £ 882 882 167 167 6,501 6,501 12,882 12,882 250 250 - - 50,632 50,632 6,357 6,357 77,671 77,671 |
|---|---|
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Sri Lankan Muslim Foundation Leicester For the year ended 31st March 2024
Notes to the financial statements
| 4. Tangible fixed asset Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 5. Creditors: amount falling due within on year Accruals - Accounts Fees Accruals - Wages HMRC - Paye Others - NEST Pensions Loan 6. Unrestricted funds Description for Unrestricted fund |
Land & Buildings £ 341,532 286,987 628,519 23,864 6,285 30,149 598,371 317,669 At 1 April 2023 £ 370,364 |
Fixtures, fittings and equipment £ 1,178 1,178 701 72 773 405 477 Incoming Resources £ 223,075 |
Total £ 342,710 286,987 629,697 24,566 6,357 30,922 598,776 318,144 2024 250.00 4,273.00 55.00 - 315.00 156,750.00 161,533.00 Outgoing Resources £ 77,671 |
2023 225.00 2,105.00 226.00 341.00 |
|---|---|---|---|---|
| 2,897.00 | ||||
| At 31 March 2024 £ 515,768 |
Purposes of unrestricted funds
The reserves are utilised for maintenance, overheads and get together expenses for Eid, Ramdhan and programmes
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