Charity Registration Number: 1137985
Islamic Community & Education Centre
Trustees Report and Financial Statements
For the year ended 31 March 2021
Islamic Community & Education Centre
Contents
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Page
Trustees' report 1 - 4
Independent examiners' report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8- 12
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Islamic Community & Education Centre
Trustees' report for the year ended 31 March 2021
The trustees present their report and the financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared based on the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document.
Reference and administrative details of the charity
Charity registration number
1137985
Correspondence address
Chapel Street Lye Stourbridge West Midlands DY9 8BT
Trustees
R Aziz M Ali K Razak
Bankers
Lloyds Bank 134 High Street Stourbridge DY8 1DS
Independent examiner
AA Qayyum BA(Hons) ACA Bluewater Tax Limited Chartered Accountants Suite 15, 54 Hagley Road Birmingham B16 8PE
Page 1
Islamic Community & Education Centre
Trustees' report (continued) for the year ended 31 March 2021
Structure, governance and management
a. Governing document
The charity was formed at a meeting of the Trustees for the purpose of setting up an Islamic Community Centre in Lye Stourbridge.
The charity is governed by its Trust deed which was adopted by the trustees on 1 March 2010.
b. Method of appointment and induction of new trustees
New trustees are appointed by existing trustees and are briefed on their legal obligations under charity law, the content of the Trust Deed and recent performance of the charity.
c. Organisational structure and decision making
The Board of Trustees oversee the running of the charity on a day to day basis. All operational decisions are made at board meetings which are held frequently throughout the year.
d. Risk management
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate our exposure to those risks.
Objectives and activities
a. Summary of objectives
The objectives of the charity as set out in it's Trust Deed are as follows:
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to provide facilities and the means for Islamic worship and education.
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to cater for the welfare of the local community needs in this deprived area.
The trustees frequently review the activities of the charity to ensure they continue to reflect the objectives and aims of the charity and provide an overall benefit to the public. In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit.
b. Activities for achieving objectives
The Islamic and Community Centre has continued to act as a hub for the local community where prayer, worship and other activities take place.
Page 2
Islamic Community & Education Centre
Trustees' report (continued) for the year ended 31 March 2021
Achievements and performance
The Islamic and Community Centre has continued to act as a hub for the local community where prayer, worship and other activities take place.
Financial Review
a. Reserves policy
The charity's reserve policy is to maintain a sufficient level of liquid reserves to meet short term obligations and any unforeseen expenditure.
b. Principle funding
During the year the charity raised a total of £53,715 (2020 - £62,157) in donations before charitable expenditure.
Plans for the Future
The charity's plans are to continue serving the local community through its activities.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales requires the trustee(s) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principals of the Charities SORP
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• make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any departures disclosed
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and explained in the financial statements; and;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and to enable them to ascertain and ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
Islamic Community & Education Centre
Trustees' report (continued) for the year ended 31 March 2021
Statement of Trustees' Responsibilities (continued)
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing preparation and dissemination of financial statements.
This report was approved by the Trustees on 3 December 2021 and signed on their behalf by:
mumtaz ali
………………………………………. Rashid Aziz (Dec 9, 2021 21:49 GMT) mumtaz ali (Dec 9, 2021 21:52 GMT) ………………………………………. Rashid Aziz Mumtaz Ali Trustee Trustee
Page 4
Islamic Community & Education Centre
Independent examiner’s Report to the Trustees of Islamic Community & Education Centre
I report on the accounts of the Trust for the year ended 31 March 2021, which are set out on pages 6 to 12.
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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with the 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 you as 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 next statement.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Ahmad Qayyum (Dec 9, 2021 21:53 GMT)
A A Qayyum BA (Hons), ACA Bluewater Tax Limited Chartered Accountants Suite 15, 54 Hagley Road Birmingham B16 8PE 3 December 2021
Page 5
Islamic Community & Education Centre
Statement of financial activities for the year ended 31 March 2021
| Unrestricted Funds 2021 Note £ Incoming resources Incoming resources from generated funds Voluntary income 2 53,715 Total incoming resources 53,715 Resources expended Costs of generating funds Costs of generating voluntary income 3,5 - Charitable activities 4,5 38,528 Governance costs 6 1,200 Total resources expended 39,728 Other income Government grants 8 18,408 Net incoming resources before transfers 32,395 Gross transfers between funds - Net movement in funds for the year 32,395 Total funds brought forward 782,583 Total funds carried forward 12 814,978 |
Restricted Funds 2021 £ - - - - - - - - - - - - |
Total Funds 2021 £ 53,715 53,715 - 38,528 1,200 39,728 18,408 32,395 - 32,395 782,583 814,978 |
Total Funds 2020 £ 62,157 62,157 - 31,509 1,200 32,709 - 29,448 - 29,448 753,136 782,583 |
|---|---|---|---|
All activities relate to continuing operations.
The notes on pages 11 to 16 form part of these financial statements.
Page 6
Islamic Community & Education Centre
Balance sheet as at 31 March 2021
| Note £ Fixed assets Tangible fixed assets 10 Current assets Cash at bank and in hand 30,839 Other debtors 182 31,021 Creditors:amounts falling and due within one year 11 (27,688) Net current assets Charity Funds Unrestricted Funds 12 Total funds The financial statements were approved by the Trustees on 24 November ………………………………………. ……………… Rashid Aziz Mumtaz Ali Trustee Trustee Rashid Aziz (Dec 9, 2021 21:49 GMT) mumtaz ali (Dec 9, 2021 21: mumtaz ali |
2021 2020 £ £ £ 811,645 829,045 811,645 829,045 26,458 26,458 (72,920) 3,333 (46,462) 814,978 782,583 814,978 782,583 814,978 782,583 2021 and signed on their behalf by: ………………………. 52 GMT) |
|---|---|
The notes on pages 11 to 16 form part of these financial statements.
Page 7
Islamic Community & Education Centre
Notes to the financial statements for the year ended 31 March 2021
1. Accounting polices
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention and have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.
1.2 Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
1.3 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary Income - Including donations, gifts and grants that provide core funding or are of general nature, are recognised where there is entitlement , certainty of receipt and the amount can be measured with sufficient reliability.
Income from Charitable Activities - Including income recognised as earned from the related goods or
services which are provided.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Charitable Activities include those costs that are directly related to the objectives of the charity.
Governance costs include those incurred in the governance of its assets and are primarily associated
with constitutional and statutory requirements.
Support Costs for a single activity are allocated directly to that activity. Where support costs relate to several activities they have been apportioned on the basis of resources consumed by those activities. In allocating the support costs, the trustees have ensured that the costs are expended utilising the unrestricted funds available and consequently no restricted funds have been used in this respect.
Page 8
Notes to the financial statements for the year ended 31 March 2021
Islamic Community & Education Centre
1. Accounting polices (continued)
1.5 Tangible fixed assets and depreciation
All assets costing more than £100 are capitalised.
Tangible fixed assets other than assets under development are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of those assets, less their estimated residual value, over their expected useful lives on the following bases:
- Freehold property 2% reducing balance - Fixtures & Fittings 20% straight line
Assets under development are held at cost and are not depreciated until such time that the assets become operational.
1.6 Taxation
As a registered charity, the charity is exempt from Income and Corporation tax to the extent that its income and gains are applicable to the charitable purposes only.
2. Voluntary income
| Cash Donations Gift in Kind Gift Aid |
Unrestricted Funds 2021 £ 47,256 - 6,460 53,715 |
Restricted Funds 2021 £ - - - - |
Total Funds 2021 £ 47,256 - 6,460 53,715 |
Total Funds 2020 £ 60,493 1,664 62,157 |
|---|---|---|---|---|
3. Costs of generating voluntary income
| Fundraising and publicity | Unrestricted Funds 2021 £ - - |
Restricted Funds 2021 £ - - |
Total Funds 2021 £ - - |
Total Funds 2020 £ - - |
|---|---|---|---|---|
Page 9
Islamic Community & Education Centre
Notes to the financial statements for the year ended 31 March 2021
4. Analysis of resources expended by charitable activity
| Expenditure can be summarised as: Unrestricted Funds 2021 £ Running of Islamic Community Centre 36,221 36,221 5. Analysis of resources expended by activity type Activities undertaken directly 2021 £ Fundraising and publicity - Charitable activities Running of Islamic Community Centre 36,221 36,221 6. Governance costs Unrestricted Funds 2021 £ Accountancy and Independent examination 1,200 1,200 Costs of generating voluntary income |
Restricted Funds 2021 £ - - Support costs 2021 £ - 2,307 2,307 Restricted Funds 2021 £ - - |
Total Funds 2021 £ 36,221 36,221 Total 2021 £ - 38,528 38,528 Total Funds 2021 £ 1,200 1,200 |
Total Funds 2020 £ 28,546 28,546 Total 2020 £ - 31,509 31,509 Total Funds 2020 £ 1,200 1,200 |
|---|---|---|---|
Page 10
Islamic Community & Education Centre
Notes to the financial statements for the year ended 31 March 2021
7. Support costs
| Basis of Allocation Management and administration Usage |
Fundraising costs 2021 £ - |
Charitable of activities 2021 £ 2,307 2,307 |
Total Funds 2021 £ 2,307 2,307 |
Total Funds 2020 £ 2,744 2,744 |
|---|---|---|---|---|
Support costs have been allocated on a basis consistent with usage of resources.
8. Other income
| Government grants | Unrestricted Funds 2021 £ 18,408 18,408 |
Restricted Funds 2021 £ - - |
Total Funds 2021 £ 18,408 18,408 |
Total Funds 2020 £ - - |
|---|---|---|---|---|
9. Related party transactions
During the year, no trustees received any remuneration (2020, £Nil). During the year, no trustees received any benefits in kind (2020, £Nil). During the year, no trustees received any reimbursement of expenses (2020, £Nil).
Page 11
Islamic Community & Education Centre
Notes to the financial statements for the year ended 31 March 2021
10. Tangible fixed assets
| Cost At 1 March 2020 Additions At 31 March 2021 Depreciation At 1 March 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 11. Trade Creditors amounts falling due within one year Trade creditors Other creditors Accruals and deferred income 12. Statement of funds Brought Incoming forward resources £ £ Unrestricted general funds 782,583 72,123 Total funds 782,583 72,123 |
Freehold Property £ 825,472 - 825,472 - 16,510 16,510 808,962 825,472 Resources expended £ (39,728) (39,728) |
Fixtures & Fittings £ 6,370 479 6,849 2,796 1,370 4,166 2,683 3,574 2021 £ 1,344 25,000 1,344 27,688 Transfers in/(out) £ - - |
Total £ 831,841 479 832,320 2,796 17,880 20,676 811,645 829,046 2020 £ 301 70,000 2,619 72,920 Carried forward £ 814,978 814,978 |
|---|---|---|---|
Page 12
2021-03-31 - Islamic Community & Education Centre - Accounts - Final
Final Audit Report
2021-12-09
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