2024-01-31-accounts - Globe Town Mosque And Cultural Centre Ltd

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REGISTERED COMPANY NUMBER: 07135820 (England and Wales) REGISTERED CHARITY NUMBER: 1138270

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 January 2024

for

Globe Town Mosque and Cultural Centre

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

Globe Town Mosque and Cultural Centre

Contents of the Financial Statements
for the Year Ended 31 January 2024

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	10
Detailed Statement of Financial Activities		11

Globe Town Mosque and Cultural Centre

Report of the Trustees
for the Year Ended 31 January 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 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).

The board of trustees are satisfied with the performance of the charity during the year and the position at 31st January 2024 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

OBJECTIVES AND ACTIVITIES

Objectives and aims

(1) to advance the islamic religion to the benefit of the general public through the holding of prayer meetings and lectures.

(2) to advance education, in particular by the provision of supplementary education classes for all age groups and in all subjects including mother tongue classes.

(3) to advance education, including education in the islamic religion and such other courses for the benefit of the

community as the trustees shall think fit.

(4) to promote such other charitable purposes as may from time to time be determined.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.

STRATEGIC REPORT

Achievement and performance

Charitable activities

The charity achieved their objectives during the year by providing five time prayer facilities to general public, providing islamic education for children and various other groups, providing facilities to member of public as a meeting place.

Financial review

The financial statements are set out on pages 4 to 10 have been prepared implementing Financial Reporting Standard for Smaller Entities (effective January 2015). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities show net surplus for the year of a revenue nature of £14,856 and net realised incoming resources of a capital nature of £Nil , making net overall surplus of £14,856. The total reserves at the year end after accounting for unrealised (losses) /after revaluing investments of £92,503.

Free unrestricted liquid reserves amounted to £92,503.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees is governed by the memorandum and articles of association.There are no restrictions in the governing document on the operation of the charity or on its investment powers , other than those imposed by general charity law.

Recruitment and appointment of new trustees

When new or additional trustees are required then beneficiaries and client organisations are invited to submit nominations and subject to their compliance with the Memorandum and Articles of Association they are considered by the governing body of trustees for election

Page 1

Globe Town Mosque and Cultural Centre

Report of the Trustees
for the Year Ended 31 January 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have assessed the risks the charity faces and have drawn up a risk matrix which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening and the measures taken to manage them. The trustees review the risk matrix regularly at their meetings. The trustees are satisfied that systems are in place, or arrangement in hand to manage the risks that have been identified. In particular Insurance cover in place and finances of the mosque are kept under review. Disclosure and Barring Service (DBS) checks, supported by regularly reviewed policies, are made for all those who work with children and other vulnerable groups within the mosque or community centre.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07135820 (England and Wales)

Registered Charity number

1138270

Registered office

100 Roman Road London E2 0PG

Trustees

Mr Muhammad Khalisur Rahman Mr Muhammed Aminur Rahman Mr Shabbir Ahmed Chowdhury Mr Hiro Kamal Qureshi Mr Syed Ahbab Hussain Mr Mohammed Moktadir Baksh Mr Mohammed Nozmul Hoq Mr Abu Hamza Mahmood Mr Nurul Islam Chowdhury

Independent Examiner

Anwar F Chowdhury FCCA ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 31 October 2024 and signed on the board's behalf by:

Mr Shabbir Ahmed Chowdhury - Trustee

Page 2

Independent Examiner's Report to the Trustees of
Globe Town Mosque and Cultural Centre

Independent examiner's report to the trustees of Globe Town Mosque and Cultural Centre ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Anwar F Chowdhury FCCA

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

31 October 2024

Page 3

Globe Town Mosque and Cultural Centre

`Statement of Financial Activities` `for the Year Ended 31 January 2024` 31.1.24 `Unrestricted` `fund` Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 87,566 EXPENDITURE ON Other 72,710 NET INCOME 14,856 RECONCILIATION OF FUNDS Total funds brought forward 77,647 TOTAL FUNDS CARRIED FORWARD 92,503	31.1.23 `Total` `funds` £ 114,678
	71,925
	42,753 34,894
	77,647

The notes form part of these financial statements

Page 4

Globe Town Mosque and Cultural Centre

`Balance Sheet`

`31 January 2024`

31.1.24 `Unrestricted` `fund` Notes £ FIXED ASSETS Tangible assets 6 - CURRENT ASSETS Debtors 7 25,000 Cash at bank and in hand 81,944 106,944 CREDITORS Amounts falling due within one year 8 (14,441) NET CURRENT ASSETS 92,503 TOTAL ASSETS LESS CURRENT LIABILITIES 92,503 NET ASSETS 92,503 FUNDS 9 Unrestricted funds 92,503 TOTAL FUNDS 92,503	31.1.23 `Total` `funds` £ 28 - 103,398 103,398 (25,779) 77,619 77,647 77,647 77,647 77,647

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2024 and were signed on its behalf by:

Mr Shabbir Ahmed Chowdhury - Trustee

The notes form part of these financial statements

Page 5

Globe Town Mosque and Cultural Centre

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on cost

Taxation

The charity is exempt from corporation 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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 6

Globe Town Mosque and Cultural Centre

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	31.1.24	31.1.23
	£	£
Depreciation - owned assets	28	28
Other operating leases	25,500	33,777

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

Admin No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Other NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.1.24 31.1.23 4 4 `Unrestricted` `fund` £ 114,678 71,925 42,753 34,894 77,647

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 7

Globe Town Mosque and Cultural Centre

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. TANGIBLE FIXED ASSETS

6.	TANGIBLE FIXED ASSETS
				`Fixtures`
				`and`
				`fittings`
				£
	COST
	At 1 February 2023 and 31 January 2024			140
	DEPRECIATION
	At 1 February 2023			112
	Charge for year			28
	At 31 January 2024			140
	NET BOOK VALUE
	At 31 January 2024			-
	At 31 January 2023			28
7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.1.24	31.1.23
			£	£
	Other debtors		25,000	-
8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.1.24	31.1.23
			£	£
	Trade creditors		-	6,375
	Social security and other taxes		233	196
	Other creditors		13,500	18,500
	Accrued expenses		708	708
			14,441	25,779
9.	MOVEMENT IN FUNDS
			`Net`
			`movement`	`At`
		`At 1.2.23`	`in funds`	`31.1.24`
		£	£	£
	Unrestricted funds
	General fund	77,647	14,856	92,503
	TOTAL FUNDS	77,647	14,856	92,503
	Net movement in funds, included in the above are as follows:
		`Incoming`	`Resources`	`Movement`
		`resources`	`expended`	`in funds`
		£	£	£
	Unrestricted funds
	General fund	87,566	(72,710)	14,856
	TOTAL FUNDS	87,566	(72,710)	14,856

continued...

Page 8

Globe Town Mosque and Cultural Centre

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

		`Net`
		`movement`	`At`
	`At 1.2.22`	`in funds`	`31.1.23`
	£	£	£
Unrestricted funds
General fund	34,894	42,753	77,647
TOTAL FUNDS	34,894	42,753	77,647
Comparative net movement in funds, included in the above are as follows:
	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	£	£	£
Unrestricted funds
General fund	114,678	(71,925)	42,753
TOTAL FUNDS	114,678	(71,925)	42,753

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1.2.22`	`in funds`	`31.1.24`
	£	£	£
Unrestricted funds
General fund	34,894	57,609	92,503
TOTAL FUNDS	34,894	57,609	92,503

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	202,244	(144,635)	57,609
TOTAL FUNDS	202,244	(144,635)	57,609

continued...

Page 9

Globe Town Mosque and Cultural Centre

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2024.

Page 10

Globe Town Mosque and Cultural Centre

`Detailed Statement of Financial Activities` `for the Year Ended 31 January 2024` INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Support costs Management Wages Pensions Rent Rates and water Light and heat Postage and stationery Depreciation of tangible and heritage assets Information technology Repairs and renewals Other Insurance Sundries Bank charges Total resources expended Net income	31.1.24 `£` 87,566 87,566 34,098 362 25,500 1,560 4,709 32 28 66,289 5,248 174 - 999 1,173 72,710 14,856	31.1.23 `£` 114,678
		114,678 30,305 853 33,777 240 3,726 - 28
		68,929 160 1,780 230 826
		2,836
		71,925
		42,753

This page does not form part of the statutory financial statements

Page 11