Registered Charity Number 1142310
Masjid-E-Owais-E-Qarni
For The Year Ended 31 March 2021
Citi Accountancy Ltd 6 Wilson Court, 6 Union Road Romford, Essex RM7 0GR
Masjid-E-Owais-E-Qarni
| CONTENTS | ||
|---|---|---|
| Page | ||
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance sheet | 5 | |
| Notes to the financial statements | 6 - 8 | |
| Detailed Statement of Financial Activities | 10 |
Masjid-E-Owais-E-Qarni
Report of the Trustees for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number
1142310
Principal Address
103-107 Belgrave Road Ilford Essex IG1 3LG
Trustees
Mr Saleh M Adam Mr Iftkhar Ahmed Mr Mohammed Ashraf Mr Ghafoor Ahmed Mr Adam Patel
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
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.
Approved by order of the board of trustees on 3 August 2022 and signed on its behalf by:
Mr Saleh M Adam – Trustee
2
Examiner's Report to the Trustees of
Masjid-E-Owais-E-Qarni
I report on the accounts for the year ended 31 March 2021 set out on pages four to eight.
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 aud is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independe examination is required.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5) (b) of the 2011 Act); and
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
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 statements below
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and to 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.
Citi Accountancy Ltd
6 Wilson Court, 6 Union Road Romford, Essex RM7 0GR
3
Masjid-E-Owais-E-Qarni
Statement of Financial Activities
for the Year Ended 31 March 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted Fund | Restricted | Total Funds | Total Funds | |
| Notes | £ | £ | £ | £ |
| INCOMING RESOURCES | ||||
| Incoming resources from generated | ||||
| Voluntary income | 139,674 | 5,000 | 144,674 | - |
| Investment income | 6,504 | 6,504 | - | |
| Incoming resources from charitable activities | 5,310 | 5,310 | - | |
| Other incoming resources | 15,830 | 15,830 | ||
| Total Incoming resources | 167,318 | 5,000 | 172,318 | 0 |
| RESOURCES EXPENDED | ||||
| Costs of generating funds | ||||
| Voluntary income & Charitable activities | 47,377 | 47,377 | - | |
| Fundraising trading: cost of goods sold and o | - | 5,000 | 5,000 | - |
| Governance costs | 0 | - | - | |
| Finance cost | - | - | - | |
| Charitable activities | 47,377 | 5,000 | 52,377 | 0 |
| NET INCOMING RESOURCES | 119,941 | 119,941 | 0 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 1,771,339 | 1,771,339 | 1,771,339 | |
| TOTAL FUNDS CARRIED FORWARD | 1,891,280 | 1,891,280 | 1,771,339 |
The notes form part of these financial statements
4
Masjid-E-Owais-E-Qarni
Balance Sheet
as at 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| **Unrestricted Funds Restricted Funds ** | Total funds | Total funds | |||
| Note | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible assets | 7 | 3,063,345 | - | 3,063,345 | 1,862,941 |
| - | |||||
| Current Assets | - | ||||
| Cash at bank and in hand | 3 | 210,038 | - | 210,038 | 123,657 |
| Prepayments and accrued income | 1,445 | - | 1,445 | - | |
| 211,483 | - | 211,483 | 123,657 | ||
| Creditors: amounts falling due | within o | (485) | - | (485) | (559) |
| Net current assets | 210,998 | - | 210,998 | 123,098 | |
| Total assets less current liabilities | 3,274,343 | - | 3,274,343 | 1,986,039 | |
| Creditors: amounts falling due after more than | (1,168,363) | - | (1,168,363) | 0 | |
| Net assets | 2,105,980 | - | 2,105,980 | 1,986,039 | |
| FUNDS | |||||
| Unrestricted funds | 11 | 2,105,980 | - | 2,105,980 | 1,986,039 |
| TOTAL FUNDS | 2,105,980 | - | 2,105,980 | 1,986,039 |
The financial statements were approved by the Board of Trustees on 3 August 2022 and were signed on its behalf by:
Mr Saleh M Adam – Trustee
The notes form part of these financial statements
5
Masjid-E-Owais-E-Qarni
Notes to the Financial Statements
For The Year Ended 31 March 2021
1 ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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 t 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% straight-line method
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. GRANT
| Grants 3. BANK Cash at hand Barclays Business Barclays Community Barclays Premium Masjid Receipt Book 4. Prepayments and accrued income Prepayments Accrued income 6 |
2021 2020 £ £ 15,830 0 - - 197,884 123,657 8,690 - 2,232 - 1,232 - 210,038 123,657 1,445 - - 1,445 - |
|---|---|
Interest receivable 4 - Rents received 6,500 - 6,504 -
5. INVESTMENT INCOME
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
7. STAFF COSTS
| 7. STAFF COSTS | |||
|---|---|---|---|
| Wages and salaries | 31,338 | - | |
| 31,338 | - | ||
| The average monthly number of employees during the year was as follows: | |||
| 2 | 2 |
No employees received emoluments in excess of £60,000.00
8. TANGIBLE FIXED ASSETS
| COST At 1 April 2020 Additions DEPRECIATION At 1 April 2020 Charged for the year At 31 March 2021 NET BOOK VALUE At 31 March 2020 At 31 March 2021 |
Freehold Improvements Fixtures & Totals Property to Property Fittings £ £ £ £ 1,862,941 - - 1,862,941 1,200,404 - - 1,200,404 |
|---|---|
| 3,063,345 - - 3,063,345 |
|
| - - - - - - - |
|
| - - - - |
|
| 1,862,941 - - 1,862,941 |
|
| 3,063,345 - - 3,063,345 |
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors | - | 559 |
|---|---|---|
| Taxation and social security | 485 | - |
| 485 | 559 | |
| 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| Bank loans (more than 1 year)- Charity bank ltd | 994,963 | - |
| Loan - Interest Free | 173,400 | - |
| 1,168,363 | 0 | |
| 7 |
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Total funds |
Net movement 01-Apr-20 in funds At 31.03.2021 1,986,039 119,941 2,105,980 1,986,039 119,941 2,105,980 |
|---|---|
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds General fund Total funds |
Incoming Resources Resources Expended Movement in Fu 167,318 (47,377) 119,941 5,000 (5,000) 172,318 (52,377) 119,941 |
|---|---|
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Masjid-E-Owais-E-Qarni
Detailed Statement of Financial Activities
| For The Year Ended 31 March 2021 | ||
|---|---|---|
| INCOMING RESOURCES | ||
| 2021 | 2020 | |
| £ | £ | |
| Voluntary income | ||
| Donations | 68,343 | 278,052 |
| Gift aid | 76,331 | 0 |
| Other income | 0 | 0 |
| 144,674 | 278,052 | |
| Investment income | ||
| Interest receivable | 4 | 21 |
| Rents received | 6,500 | 0 |
| 6,504 | 21 | |
| Incoming resources from charitable activities | ||
| Madrassa Fee | 5,310 | 0 |
| 5,310 | - | |
| Other Incoming resources | ||
| HMRC JRS Grants | 15,830 | 0 |
| 15,830 | - | |
| Total incoming resources | 172,318 | 278,073 |
| RESOURCE EXPENDED | ||
| Costs of generating voluntary income | ||
| Raising funds | 5,000 | 23,000 |
| Depreciation | - | - |
| Insurance | - | 1,041 |
| Legal fee | - | 960 |
| Light and heat | 1,922 | 4,134 |
| Postage and stationery | 1,199 | - |
| Rates and water | 721 | 1,103 |
| Repairs & renewals | 7,636 | 530 |
| Telephone and fax | 424 | 532 |
| 11,902 | 8,300 | |
| Fundraising trading: cost of goods sold and other costs | ||
| Bank loan interest | 4,137 | - |
| Wages | 31,338 | 32,073 |
| 35,475 | 32,073 |
9
Governance costs Donations made
Other resources expended Rent and Rates Total resources expended 52,377 63,373 Net income 119,941 214,700
10