## 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**| 1 ## ## ## ## 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: - Select suitable accounting policies & then apply them consistently. - Make judgements and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - 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. 3 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 1. The information given in the Trustees’s Annual Report is inconsistent in any material respect with the financial statements; or 2. Sufficient accounting records have not been kept; or 3. The financial statements are not in agreement with the accounting records and returns; or 4. 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 4 ## **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| 5 ## **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**
**-**| |---|---| 6 ## ## ||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| |---|---| 8 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 9