**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**|
|---|---|---|---|