Registered Charity Number 1142310
Masjid-E-Owais-E-Qarni
For The Year Ended 31 March 2023
Dar Ul Ihsan Accountants 172 Cranbrook Road, Ilford Essex IG1 4LX
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 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023 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 19 January 2024 and signed on its behalf by:
Mr Saleh M Adam – Trustee
Examiner's Report to the Trustees of
Masjid-E-Owais-E-Qarni
I report on the accounts for the year ended 31 March 2023 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 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 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.
Ata Ul Ailah FFA, FIPA, AAIA
Dar Ul Ihsan Accountants
172 Cranbrook Road
Ilford, Essex IG1 4LX
Masjid-E-Owais-E-Qarni Statement of Financial Activities for the Year Ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted Fund | Restricted | Total Funds | Total Funds | ||
| Note | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Incoming resources from | |||||
| Voluntary income | 305,775 | 50,170 | 355,945 | 228,556 | |
| Investment income | 39,416 | 39,416 | 12,990 | ||
| Incoming resources from charitable activities | 16,054 | 16,054 | 6,426 | ||
| Other incoming resources | 21,800 | 21,800 | 1,554 | ||
| Total Incoming resources | 383,045 | 50170 | 433,215 | 249,526 | |
| RESOURCES EXPENDED | |||||
| Costs of generating funds | |||||
| Voluntary income & Charitable activities | 81,172 | 50,170 | 131,342 | 128,790 | |
| Fundraising trading: cost of goods sold and other costs | 43759 | 43,759 | 1,282 | ||
| Governance costs | 0 | 16,475 | |||
| Finance cost | 38,108 | 38,108 | - | ||
| Charitable activities | 163,038 | 50170 | 213,208 | 146,547 | |
| NET INCOMING RESOURCES | 220,007 | 0 | 220,007 | 102,979 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 2,208,959 | 2,208,959 | 2,105,980 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,428,966 | 0 | 2,428,966 | 2,208,959 |
The notes form part of these financial statements
Masjid-E-Owais-E-Qarni Balance Sheet as at 31 March 2023
| 2023 2022 Restricted Total Funds Total Funds £ £ £ £ - 3,063,345 0 156,558 0 672 - 157,230 0 1332.74 - 107,236 157,230 3,170,581 3,220,575 (741,615) (1,011,616) Net Assets 2,428,966 2,208,959 2,428,966 2,208,959 0 2,428,966 2,208,959 FUNDS Unrestricted funds 11 2,428,966 0 TOTAL FUNDS 2,428,966 Creditors: amounts falling due after more than one year (741,615) 0 2,428,966 Creditors: amounts falling due within one year Net Current Assets 107,236 Total assets less current liabilities 3,170,581 Prepayments and accrued income 0 Accruals 1332.74 0 108,569 108,569 Current Assets - Cash at bank and in hand 3 108,569 108,569 Tangible assets 8 3,063,345 3,063,345 - Restricted Funds £ £ Note Fixed Assets Unrestricted Fund Note |
2023 2022 Restricted Total Funds Total Funds £ £ £ £ - 3,063,345 0 156,558 0 672 - 157,230 0 1332.74 - 107,236 157,230 3,170,581 3,220,575 (741,615) (1,011,616) Net Assets 2,428,966 2,208,959 2,428,966 2,208,959 0 2,428,966 2,208,959 FUNDS Unrestricted funds 11 2,428,966 0 TOTAL FUNDS 2,428,966 Creditors: amounts falling due after more than one year (741,615) 0 2,428,966 Creditors: amounts falling due within one year Net Current Assets 107,236 Total assets less current liabilities 3,170,581 Prepayments and accrued income 0 Accruals 1332.74 0 108,569 108,569 Current Assets - Cash at bank and in hand 3 108,569 108,569 Tangible assets 8 3,063,345 3,063,345 - Restricted Funds £ £ Note Fixed Assets Unrestricted Fund Note |
|---|---|
| Net Assets FUNDS Unrestricted funds 11 TOTAL FUNDS Creditors: amounts falling due after more than one year |
The financial statements were approved by the Board of Trustees on 02 August 2023 and were signed on its behalf by:
Mr Saleh M Adam – Trustee
The notes form part of these financial statements
Masjid-E-Owais-E-Qarni Notes to the Financial Statements For The Year Ended 31 March 2023
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 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% 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 Cash at hand 3. BANK Masjid Receipt Book Barclays Premium Barclays Community Barclays Business |
2023 £ 0 83,757 10,375 10,548 3,889 108,569 |
2022 £ 1,554 - 144,276 9,450 2,231 601 156,558 |
|
|---|---|---|---|
4. Prepayments and accrued income
| Rents received Accrued income 5. INVESTMENT INCOME Interest receivable Prepayments (PAYE) |
0 - 0 39,414 39,416 2 |
672 - 672 0 12,990 6,500 |
|---|---|---|
6. TRUSTEES' REMUNERATION
There were no trustees’ remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
7. STAFF COSTS
| No employees received emoluments in excess of £60,000.00 Wages and salaries The Avergae Number of employees during the Year were as follows: |
9 43,759 43,759 |
59,074 31,338 5 |
|---|---|---|
8. TANGIBLE FIXED ASSETS
| COST At 1 April 2023. Additions At 1 April 2021 Taxation and social security 1332.74 1332.74 At 31 March 2023 3,063,345 - 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors - At 31 March 2023 - - NET BOOK VALUE At 31 March 2023 3,063,345 - 3,063,345 - DEPRECIATION - - Charged for the year - - £ £ 3,063,345 - - - Freehold Improvements Property to Property |
Fixtures & Fittings £ - - - - - - - - |
Totals £ 3,063,345 - 3,063,345 - - - 3,063,345 3,063,345 - 0 - |
|---|---|---|
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 01-Apr-22 2,208,959 2,253,611 383,045 50,170 433,215 Total funds General Fund Restricted Funds General Fund Net movement in funds, included in the above are Incoming Resources Unrestricted Funds Unrestricted Funds General Fund Total funds Loan - Interest Free 11. MOVEMENT IN FUNDS Bank loans (more than 1 year)- Charity bank ltd |
966,716 44,900 1,011,616 At 31.03.2023 220,007 2,428,966 220,007 2,428,966 - 163,038 220,007 - 50,170 - - 213,208 220,007 Resources Expended Movement in Funds Net Movement in Funds 44,900 741,615 696,715 |
|---|---|
Masjid-E-Owais-E-Qarni Detailed Statement of Financial Activities For The Year Ended 31 March 2022
| Rents Received Madarasa Fee Depreciation Insurance Light and heat Repairs and maintenance Postage and stationery Telephone and internet Rent, Rates & Water Flood Relief Donations Paid Costs of generating voluntary income Raising funds Indipendent Examiner Fee Bank & Card Machine Charges Total Incoming Resources Incoming resources from charitable activities Other Incoming Resources Flood Releif Donations Interest Receivable Insurance Claim for Flooded Basement Other income Investment Income HMRC JRS & other Frants INCOMING RESOURCES Voluntary income Donations Gift aid |
2023 £ 273,464 32,310 50,170 0 355,945 2 39,414 39,416 16,054 16,054 0 21,800 21,800 433,215 0 50,170 - 3,971 406 6,062 14,876 51,642 3,434 779 81,172 |
2022 £ 214,523 4,006 10,027 228,556 0 12,990 12,990 6,426 6,426 1,554 0 1,554 249,526 1,282 - - 6,330 3,127 - 10,644 753 20,984 - 607 |
|---|---|---|
| 42,445 |
| Total resources expended Net income Governance costs Donations Made Other Governance costs Total cost of Voluntary Income and Charitable Activities Fundraising trading: cost of goods sold and other costs Bank loan interest Wages |
38,108 43,759 81,867 163,038 - - 213,208 220,007 |
27,273 59,074 86,347 128,792 16,475 0 16,475 146,549 102,977 |
|
|---|---|---|---|