REGISTERED COMPANY NUMBER: 07577060 (England and Wales) REGISTERED CHARITY NUMBER: 1143245
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
Karimia Association Limited
M Ahmed & Co Chartered Accountants 83 Park Road Chilwell Nottingham NG9 4DE
Karimia Association Limited
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 18 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
Karimia Association Limited
Report of the Trustees
for the Year Ended 31 March 2021
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 March 2021. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are set out in the charity's trust deed and are summarised below:
-
Advance the teaching of Islam and the observances that serve to promote and manifest it;
-
Advance the education of young people under the age of 18 in particular Muslims by the establishment and maintenance of a school; and
-
Provide facilities for the recreation and other leisure time pursuits of persons who have need of such facilities by reason of their youth, age, infirmity, disablement, poverty or social or economic circumstances in the interest of social welfare with the object of improving their condition of life.
The objectives are set to reflect our faith and community aims. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advance of religion for the public benefit.
There have been no changes in the objects and policies during the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities and developments
The charity operates mosques, Quran schools and a community centre at its principal premises in Hyson Green, Nottingham. These have been enhanced by new events of national significance which started during 2019-20: Karimia Institute’s Aalim Course; Quran School Nasheed Classes; the National Qirratt Competition for Quran Schools children and the organisation of the Muslim Cultural Festival. The Walsall centre which was opened in 2017 is also flourishing. The mosque and community centre purchased in Oldham in 2018 has been developed further during 2020 and more work will be carried out as funds become available. The Association continues to help other mosques with Imam and teacher training.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities for the year is set out on page 6 of the financial statements. A summary of the financial results and the work of the charity is set out below.
The charity's main source of income is donations. During the year, £341,179 (2020 - £372,219) was donated by the local community and visitors. This amount was augmented by £ 7,521 (2020 - £51,794) of Gift Aid tax refunds, £79,922 (2020 - £219,953) from voluntary tuition fees, £246,905 (2020 - £227,149) of grants from Nottingham City Council and other organisations and £259,069 (2020 - £0) furlough and Covid support grants. Overall income was £73,104 (8.0%) higher than 2020. This was due to increases in general donations..
Expenditure of £748,553 (2020 - £857,817) was £109,264 (12.7%) lower than 2020 due to reductions wages and salaries and premises costs as the mosques were closed for some periods due to the Covid-19 pandemic. This resulted in an operating surplus of £196,278 (2020 - £13,910) which was used for repaying loans and working capital. The Association continues to be well supported by the local authority and organisations. The charity thanks all its members and supporters for their work and generosity.
Principal funding sources
The Charity is totally dependent on funding from members and government authorities and securing this funding, to meet the operating and development costs remains the key challenge for the management committee over the short term.
Page 1
Karimia Association Limited
Report of the Trustees
for the Year Ended 31 March 2021
FINANCIAL REVIEW
Investment policy and objectives
The Association has no long term investments. Cash reserves are small and are held in regular bank deposit accounts. The interest earned is considered by the trustees as a gift of the UK banking system.
Reserves policy
The Management Committee is aware, and has a policy, that unrestricted funds held by the charity and not committed or invested in tangible fixed assets should be between 3 and 6 months of expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Karimia Association Limited is a charitable company. It is a registered charity, number 1143245, and company limited by guarantee, registration no. 07577060. It is governed by the Memorandum and Articles of Association.The management of the company is vested in a Management Committee consisting of a Chairman, Secretary and Treasurer.
Recruitment and appointment of new trustees
Applications for trusteeship and membership of the Management Committee are sought by personal solicitation. A panel comprising existing trustees and members of the Management Committee are involved in the selection process. The Management Committee meets at least four times and deals with all operational and development matters. All Trustees must be Muslims.
Induction and training of new trustees
Following appointment, new trustees are introduced to their role and are given copies of the trust deed and a guide to the policies and procedures adopted by the charity. A number of publications from the charity commission are also provided including the guidance on charities and public benefit and on the advancement of religion for the public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act. Initially, new trustees work with an existing trustee assisting on activities and projects run by the charity. After a satisfactory period of induction they are given the task of leading projects and other work.
Risk management
The trustees have assessed the risks the charity faces and have drawn up a risk matrix which identifies the major risks by area, the nature of those risks, the likelihood of the risks happening and the measures taken to manage them. The trustees review this risk matrix regularly at their meetings. The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks that have been identified. In particular, insurance cover is in place and the finances of the Association are kept under review. Appropriate checks, supported by regularly reviewed policies, are made for all those who work with children or other vulnerable groups in the mosques or community centres.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07577060 (England and Wales)
Registered Charity number
1143245
Registered office
512-514 Berridge Road West Nottingham NG7 5JU
Page 2
Karimia Association Limited
Report of the Trustees for the Year Ended 31 March 2021
Trustees
T M Nasir Chairman, Director and Company Secretary Mr F Rabbi Trustee & Director C A Wahid Trustee & Director Dr M Hussain Chief Executive Ms S Mohammad Trustee M Ashraf Trustee M Iqbal Trustee M Suleman Trustee Z Khan Trustee M Younas Trustee R Khan Trustee J Rabbi Trustee M Naheem Trustee N Mamood Trustee Moulana M Ishaque Trustee
Company Secretary T M Nasir
Independent Examiner
Maqbool Ahmed ACA M Ahmed & Co Chartered Accountants 83 Park Road Chilwell Nottingham NG9 4DE
Approved by order of the board of trustees on 26 December 2021 and signed on its behalf by:
T M Nasir - Trustee
Page 3
Independent Examiner's Report to the Trustees of Karimia Association Limited
Independent examiner's report to the trustees of Karimia Association Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA which is one of the listed bodies.
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.
Maqbool Ahmed ACA M Ahmed & Co Chartered Accountants 83 Park Road Chilwell Nottingham NG9 4DE
26 December 2021
Page 4
Karimia Association Limited
Statement of Financial Activities for the Year Ended 31 March 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Fees Other trading activities 3 Other income Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Expenditure Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 188,900 240 10,235 - 199,375 21,275 171,967 193,242 6,133 262 6,395 |
Restricted fund £ 665,774 79,682 - - 745,456 - 555,311 555,311 190,145 1,522,279 1,712,424 |
31.3.21 Total funds £ 854,674 79,922 10,235 - 944,831 21,275 727,278 748,553 196,278 1,522,541 1,718,819 |
31.3.20 Total funds £ 651,162 219,953 542 70 |
|---|---|---|---|---|
| 871,727 21,275 836,542 |
||||
| 857,817 | ||||
| 13,910 1,508,631 |
||||
| 1,522,541 |
The notes form part of these financial statements
Page 5
Karimia Association Limited
Balance Sheet 31 March 2021
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 2,592 3,289 15,668 18,957 (15,154) 3,803 6,395 - 6,395 |
Restricted fund £ 1,928,548 60,430 94,514 154,944 (118,433) 36,511 1,965,059 (252,635) 1,712,424 |
31.3.21 Total funds £ 1,931,140 63,719 110,182 173,901 (133,587) 40,314 1,971,454 (252,635) 1,718,819 6,395 1,712,424 1,718,819 |
31.3.20 Total funds £ 1,971,560 14,547 103,902 118,449 (251,738) (133,289) 1,838,271 (315,730) 1,522,541 262 1,522,279 1,522,541 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.
The notes form part of these financial statements
Page 6
continued...
Karimia Association Limited
Balance Sheet - continued
31 March 2021
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 26 December 2021 and were signed on its behalf by:
M Hussain - Trustee
The notes form part of these financial statements
Page 7
Karimia Association Limited
Cash Flow Statement
for the Year Ended 31 March 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.21 £ 10,368 (4,088) 6,280 - - 6,280 103,902 110,182 |
31.3.20 £ 117,826 (11,653) 106,173 (10,797) (10,797) 95,376 8,526 103,902 |
|---|---|---|
The notes form part of these financial statements
Page 8
Karimia Association Limited
Notes to the Cash Flow Statement for the Year Ended 31 March 2021
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 196,278 | 13,910 | |
| Adjustments for: | |||
| Depreciation charges | 43,645 | 43,790 | |
| Interest paid | 4,088 | 11,653 | |
| (Increase)/decrease in debtors | (49,172) | 1,464 | |
| (Decrease)/increase in creditors | (184,471) | 47,009 | |
| Net cash provided by operations | 10,368 | 117,826 | |
| 2. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.4.20 | Cash flow | At 31.3.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 103,902 | 6,280 | 110,182 |
| 103,902 | 6,280 | 110,182 | |
| Debt | |||
| Debts falling due within 1 year | (110,332) | (8,102) | (118,434) |
| Debts falling due after 1 year | (315,730) | 63,095 | (252,635) |
| (426,062) | 54,993 | (371,069) | |
| Total | (322,160) | 61,273 | (260,887) |
The notes form part of these financial statements
Page 9
Karimia Association Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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.
Charitable activities
These costs are incurred by the charity in the delivery of its activities and services for beneficiaries. It includes both costs that can be allocated direct to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance
Related party exemption
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Taxation
As a charity, Karimia Association Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
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.
continued...
Page 10
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. DONATIONS AND LEGACIES
| 2. DONATIONS AND LEGACIES |
2. DONATIONS AND LEGACIES |
2. DONATIONS AND LEGACIES |
||||
|---|---|---|---|---|---|---|
| Donations and gift aid Grants for Zaytuna Nursery, Urdu School and Trust Buildings Projects Covid support grants Grants received, included in the above, are as follows: Other grants 2021 2021 Unrestricted Restricted £ £ Nottingham City Council - Nurseries and Urdu School 0 230,088 Notts Crime and Commissioner Grant 0 9,817 Muslim Hands 0 6,000 Muslim Sports Foundation 0 1,000 Others 0 246,905 3. OTHER TRADING ACTIVITIES Sports hall and room hire |
31.3.21 £ 348,700 246,905 259,069 854,674 31.3.21 £ 246,905 |
31.3.20 £ 424,013 227,149 - 651,162 31.3.20 £ 227,149 |
||||
| 2021 | 2021 | 2021 | 2020 | |||
| Unrestricted | Restricted | Total | Total | |||
| £ | £ | £ | £ | |||
| 0 | 230,088 | 230,088 | 217,380 | |||
| 0 | 9,817 | 9,817 | 9,000 | |||
| 0 | 6,000 | 6,000 | 0 | |||
| 0 | 1,000 | 1,000 | 0 | |||
| 0 | 769 | |||||
| 0 | 246,905 | 246,905 | 227,149 | |||
| 31.3.21 £ 10,235 |
31.3.20 £ 542 |
continued...
Page 11
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
4. INCOME FROM CHARITABLE ACTIVITIES Activity Fees and subscriptions Fees 5. RAISING FUNDS Raising donations and legacies
31.3.21 31.3.20 Activity £ £ Fees and subscriptions Fees 79,922 219,953 5. RAISING FUNDS Raising donations and legacies 31.3.21 31.3.20 £ £ Staff costs 21,275 21,275 6. CHARITABLE ACTIVITIES COSTS Direct Costs £ Expenditure 727,278
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 40,420 | 43,790 |
8. 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
Members of the Management Committee received remuneration of £28,762 (2020 - £27,925) and travel costs amounting to £218 (2020 - £218) were reimbursed to 1 ( 2020- 1) member.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2020 - £nil)
continued...
Page 12
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
9. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Chief Executive Imams Teachers and nursery nurses Training and project delivery Management, Administration and support No employees received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 247,466 Charitable activities Fees - Other trading activities 542 Other income 70 Total 248,078 EXPENDITURE ON Raising funds 21,275 Charitable activities Expenditure 190,343 Total 211,618 NET INCOME/(EXPENDITURE) 36,460 RECONCILIATION OF FUNDS Total funds brought forward (36,198) |
||
|---|---|---|
continued...
Page 13
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 262 11. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 April 2020 and 31 March 2021 2,160,470 DEPRECIATION At 1 April 2020 190,728 Charge for year 40,420 At 31 March 2021 231,148 NET BOOK VALUE At 31 March 2021 1,929,322 At 31 March 2020 1,969,742 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
- | continued Restricted fund £ 1,522,279 Fixtures and fittings £ 59,326 57,508 - 57,508 1,818 1,818 31.3.21 £ 63,719 |
Total funds £ |
|
|---|---|---|---|---|
| 1,522,541 | ||||
| Totals £ 2,219,796 248,236 40,420 288,656 1,931,140 1,971,560 31.3.20 £ 14,547 |
||||
continued...
Page 14
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.21 £ Bank loans and overdrafts (see note 15) 43,434 Other loans (see note 15) 75,000 Trade creditors 12,993 Other creditors - Accruals and deferred income 2,160 133,587 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.21 £ Bank loans (see note 15) 252,635 Other loans (see note 15) - 252,635 15. LOANS An analysis of the maturity of loans is given below: 31.3.21 £ Amounts falling due within one year on demand: Bank loans 43,434 Other loans 75,000 118,434 Amounts falling due between two and five years: Other loans - 2-5 years - Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 252,635 |
31.3.20 £ 33,360 76,972 - 141,406 - |
|---|---|
| 251,738 | |
| 31.3.20 £ 285,730 30,000 |
|
| 315,730 | |
| 31.3.20 £ 33,360 76,972 |
|
| 110,332 | |
| 30,000 | |
| 285,730 |
Page 15
continued...
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
At 1.4.20 £ 262 1,522,279 1,522,541 Incoming resources £ 199,375 745,456 944,831 At 1.4.19 £ (36,198) 1,544,829 1,508,631 |
Net movement in funds £ 6,133 190,145 196,278 Resources expended £ (193,242) (555,311) (748,553) Net movement in funds £ 36,460 (22,550) 13,910 |
At 31.3.21 £ 6,395 1,712,424 1,718,819 Movement in funds £ 6,133 190,145 196,278 At 31.3.20 £ 262 1,522,279 1,522,541 |
|
|---|---|---|---|---|
Page 16
continued...
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 248,078 623,649 871,727 |
Resources Movement expended in funds £ £ (211,618) 36,460 (646,199) (22,550) (857,817) 13,910 |
Resources Movement expended in funds £ £ (211,618) 36,460 (646,199) (22,550) (857,817) 13,910 |
|---|---|---|---|
| 13,910 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
At 1.4.19 £ (36,198) 1,544,829 1,508,631 |
Net movement in funds £ 42,593 167,595 210,188 |
At 31.3.21 £ 6,395 1,712,424 |
|---|---|---|---|
| 1,718,819 |
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 | 447,453 | (404,860) | 42,593 |
| Restricted funds | |||
| Restricted fund | 1,369,105 | (1,201,510 ) | 167,595 |
| TOTAL FUNDS | 1,816,558 | (1,606,370 ) | 210,188 |
continued...
Page 17
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 18
Karimia Association Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and gift aid | 348,700 | 424,013 |
| Grants for Zaytuna Nursery, Urdu School and | ||
| Trust Buildings Projects | 246,905 | 227,149 |
| Covid support grants | 259,069 | - |
| 854,674 | 651,162 | |
| Other trading activities | ||
| Sports hall and room hire | 10,235 | 542 |
| Charitable activities | ||
| Fees and subscriptions | 79,922 | 219,953 |
| Other income | ||
| Rents received | - | 70 |
| Total incoming resources | 944,831 | 871,727 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 21,275 | 21,275 |
| Charitable activities | ||
| Wages | 472,033 | 583,577 |
| Rates and water | 5,895 | 30,174 |
| Light and heat | 17,509 | 21,871 |
| Telephone and internet | 3,226 | 3,966 |
| Postage and stationery | 17,672 | 9,621 |
| Sundries | 17,793 | 9,782 |
| Professional and consultancy | 48,689 | 36,733 |
| Staff training and continuous professional | ||
| development | 963 | 1,418 |
| Other premises costs | 2,941 | 3,000 |
| Repairs and maintenance | 23,350 | 26,539 |
| Dawah work and donations | 28,304 | 27,141 |
| equipment | 13,065 | 1,649 |
| Events catering | 3,566 | 5,377 |
| Travel and volunteer expenses | 1,949 | 6,956 |
| Books and publications | 12,987 | 1,618 |
| Insurance | 3,752 | 5,991 |
| Carried forward | 673,694 | 775,413 |
This page does not form part of the statutory financial statements
Page 19
Karimia Association Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 673,694 | 775,413 |
| Accountancy and payroll | 3,990 | 1,800 |
| Bank charges | 1,861 | 3,886 |
| Depreciation | 43,645 | 43,790 |
| Bank interest | 4,088 | 11,653 |
| 727,278 | 836,542 | |
| Total resources expended | 748,553 | 857,817 |
| Net income | 196,278 | 13,910 |
This page does not form part of the statutory financial statements
Page 20