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 2022
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 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Cash Flow Statement | 9 | ||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 19 |
Karimia Association Limited (Registered number: 07577060)
Report of the Trustees
for the Year Ended 31 March 2022
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 2022. 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.
Page 1
Karimia Association Limited (Registered number: 07577060)
Report of the Trustees
for the Year Ended 31 March 2022
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: 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 Association continues to help other mosques with Imam and teacher training.
We have the Human Kind programme formerly known as Trust Building (since 2016) which is aimed to build trust between the British Muslim Community and the wider British public. With the recruitment of a project coordinator we have developed a network of ambassadors that visit local schools and universities raising awareness and delivering presentations geared towards busting myths on Islam.
Every year Karimia host a graduation dinner for university graduates to celebrate their achievement. We also held several events hosting refugees and migrants at the centre and making available our facilities.
The facilities at the centre are used by the community to host events at times of happiness and grievance - the centre is here support to them. Covid vaccination clinics are setup up on regular basis by the NHS, the Police use the facilities for their presentations and training of new recruits.
It is a central hub for the community which also provides Ofsted approved nursery facilities for children from all backgrounds. Its sports hall is used during term holidays by children for a range of activities in a safe and secure environment.
The centre has undergone a programme of repair and improvement, new TV screens have been installed, CCTV has been upgraded with purchase of new tables and chairs. In the nursery a new canopy has been added and the children's playground equipment has been upgraded.
This year the Cultural festival was held at the Nottingham Forest Ground with year on year increase in attendance from the general public and community.
We aim to continue our efforts in the development of a centre for recreation and learning for people of all ages especially children.
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, £453,541 (2021 - £348,700) was donated by the local community and visitors. This amount was augmented by £ nil (2021 - £7,521) of Gift Aid tax refunds, £178,900 (2021 - £79,922) from voluntary tuition fees, £224,890 (2021 - £246,905) of grants from Nottingham City Council and other organisations and £13,982 (2021 - £259,069) furlough and Covid support grants. Overall income was £65,797 (7..0%) lower than 2021. This was due to reductions in covid support grants and other grants. This shortfall was partly made up by increases in general donations and fees.
Expenditure of £936,150 (2021 - £748,553) was £187,597 (25%) higher than 2021 due to increases in costs as the charity increased activity levels to precovid levels. This resulted in an operating loss of £101,351 (2021 - surplus £196,278) which was funded from reserves. This has reduced cash reserves very significantly. 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 2
Karimia Association Limited (Registered number: 07577060)
Report of the Trustees
for the Year Ended 31 March 2022
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 3
Karimia Association Limited (Registered number: 07577060)
Report of the Trustees for the Year Ended 31 March 2022
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 (resigned 30.6.22)
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 27 December 2022 and signed on its behalf by:
T M Nasir - Trustee
Page 4
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 2022.
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
27 December 2022
Page 5
Karimia Association Limited
Statement of Financial Activities for the Year Ended 31 March 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Fees Other trading activities 3 Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Expenditure Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 281,062 - - 281,062 - 278,786 278,786 2,276 6,395 8,671 |
Restricted fund £ 411,351 178,900 7,721 597,972 31,649 625,715 657,364 (59,392) 1,712,424 1,653,032 |
31.3.22 Total funds £ 692,413 178,900 7,721 879,034 31,649 904,501 936,150 (57,116) 1,718,819 1,661,703 |
31.3.21 Total funds £ 854,674 79,922 10,235 |
|---|---|---|---|---|
| 944,831 25,363 723,190 |
||||
| 748,553 | ||||
| 196,278 1,522,541 |
||||
| 1,718,819 |
The notes form part of these financial statements
Page 6
Karimia Association Limited (Registered number: 07577060)
Balance Sheet 31 March 2022
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand 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 6,202 2,037 8,239 (2,160) 6,079 8,671 - 8,671 |
Restricted fund £ 1,885,012 54,052 42,144 96,196 (103,030) (6,834) 1,878,178 (225,146) 1,653,032 |
31.3.22 Total funds £ 1,887,604 60,254 44,181 104,435 (105,190) (755) 1,886,849 (225,146) 1,661,703 8,671 1,653,032 1,661,703 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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
continued...
Page 7
Karimia Association Limited (Registered number: 07577060)
Balance Sheet - continued
31 March 2022
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 27 December 2022 and were signed on its behalf by:
M Hussain - Trustee
The notes form part of these financial statements
Page 8
Karimia Association Limited
Cash Flow Statement
for the Year Ended 31 March 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash (used in)/provided by operating 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 |
31.3.22 £ (56,352) (9,649) (66,001) (66,001) 110,182 44,181 |
31.3.21 £ 10,368 (4,088) 6,280 6,280 103,902 110,182 |
|---|---|---|
The notes form part of these financial statements
Page 9
Karimia Association Limited
Notes to the Cash Flow Statement for the Year Ended 31 March 2022
| 1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME | TO NET CASH | FLOW FROM | |
|---|---|---|---|---|
| OPERATING ACTIVITIES | ||||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Net (expenditure)/income for the reporting period (as per the | ||||
| Statement of Financial Activities) | (57,116) | 196,278 | ||
| Adjustments for: | ||||
| Depreciation charges | 43,536 | 43,645 | ||
| Interest paid | 9,649 | 4,088 | ||
| Decrease/(increase) in debtors | 3,464 | (49,172) | ||
| Decrease in creditors | (55,885) | (184,471) | ||
| Net cash (used in)/provided by operations | (56,352) | 10,368 | ||
| 2. | ANALYSIS OF CHANGES IN NET DEBT | |||
| At 1.4.21 | Cash flow | At 31.3.22 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 110,182 | (66,001) | 44,181 | |
| 110,182 | (66,001) | 44,181 | ||
| Debt | ||||
| Debts falling due within 1 year | (118,434) | 20,380 | (98,054) | |
| Debts falling due after 1 year | (252,635) | 27,489 | (225,146) | |
| (371,069) | 47,869 | (323,200) | ||
| Total | (260,887) | (18,132) | (279,019) |
The notes form part of these financial statements
Page 10
Karimia Association Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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 11
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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 other Trust Projects Covid support grants Grants received, included in the above, are as follows: Other grants 2022 2022 Unrestricted Restricted £ £ Nottingham City Council - Nurseries and Urdu School 0 168,641 Notts Crime and Commissioner Grant 0 0 Muslim Hands 0 50,000 Muslim Sports Foundation 0 5,000 Others 1,249 0 224,890 3. OTHER TRADING ACTIVITIES Sports hall and room hire |
31.3.22 £ 453,541 224,890 13,982 692,413 31.3.22 £ 224,890 |
31.3.21 £ 348,700 246,905 259,069 854,674 31.3.21 £ 246,905 |
||||
| 2022 | 2022 | 2022 | 2021 | |||
| Unrestricted | Restricted | Total | Total | |||
| £ | £ | £ | £ | |||
| 0 | 168,641 | 168,641 | 230,088 | |||
| 0 | 0 | 0 | 9,817 | |||
| 0 | 50,000 | 50,000 | 6,000 | |||
| 0 | 5,000 | 5,000 | 1,000 | |||
| 1,249 | 1,249 | 0 | ||||
| 0 | 224,890 | 224,890 | 246,905 | |||
| 31.3.22 £ 7,721 |
31.3.21 £ 10,235 |
continued...
Page 12
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 4. INCOME FROM CHARITABLE ACTIVITIES Activity Fees and subscriptions Fees 5. RAISING FUNDS Raising donations and legacies Staff costs Other trading activities Interest payable and similar charges Aggregate amounts 6. CHARITABLE ACTIVITIES COSTS Expenditure 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.3.22 £ 178,900 31.3.22 £ 22,000 31.3.22 £ 9,649 31,649 31.3.22 £ 43,536 |
31.3.21 £ 79,922 |
|---|---|---|
| 31.3.21 £ 21,275 31.3.21 £ 4,088 25,363 Direct Costs £ 904,501 |
||
| 31.3.21 £ 40,420 |
continued...
Page 13
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
Members of the Management Committee received remuneration of £24,868 (2021 - £24,500) and travel costs amounting to £180 (2021 - £218) were reimbursed to 1 ( 2021- 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)
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 |
31.3.22 £ 610,039 610,039 31.3.22 1 6 23 3 4 37 |
31.3.21 £ 493,308 |
||
|---|---|---|---|---|
| 493,308 | ||||
| 31.3.21 1 6 23 3 4 37 |
No employees received emoluments in excess of £60,000.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Fees Other trading activities Total EXPENDITURE ON Raising funds |
Unrestricted fund £ 188,900 240 10,235 199,375 22,007 |
Restricted fund £ 665,774 79,682 - 745,456 3,356 |
Total funds £ 854,674 79,922 10,235 |
|---|---|---|---|
| 944,831 25,363 |
continued...
Page 14
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Charitable activities Expenditure Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 11. TANGIBLE FIXED ASSETS COST At 1 April 2021 and 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Charitable activities Expenditure Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 11. TANGIBLE FIXED ASSETS COST At 1 April 2021 and 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
ACTIVITIES Unrestricted fund £ 171,235 193,242 6,133 262 6,395 Freehold property £ 2,160,470 231,148 43,209 274,357 1,886,113 1,929,322 |
- | continued Restricted fund £ 551,955 555,311 190,145 1,522,279 1,712,424 Fixtures and fittings £ 59,326 57,508 327 57,835 1,491 1,818 |
Total funds £ 723,190 |
|
|---|---|---|---|---|---|---|
| 748,553 | ||||||
| 196,278 1,522,541 |
||||||
| 1,718,819 | ||||||
| Totals £ 2,219,796 288,656 43,536 332,192 1,887,604 1,931,140 |
||||||
Page 15
continued...
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Other debtors 60,254 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Bank loans and overdrafts (see note 15) 28,054 Other loans (see note 15) 70,000 Trade creditors 4,976 Accruals and deferred income 2,160 105,190 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.22 £ Bank loans (see note 15) 225,146 15. LOANS An analysis of the maturity of loans is given below: 31.3.22 £ Amounts falling due within one year on demand: Bank loans 28,054 Other loans 70,000 98,054 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 225,146 |
31.3.21 £ 63,719 31.3.21 £ 43,434 75,000 12,993 2,160 |
|---|---|
| 133,587 | |
| 31.3.21 £ 252,635 |
|
| 31.3.21 £ 43,434 75,000 |
|
| 118,434 | |
| 252,635 |
Page 16
continued...
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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 1.4.21 £ 6,395 1,712,424 1,718,819 Incoming resources £ 281,062 597,972 879,034 At 1.4.20 £ 262 1,522,279 1,522,541 |
Net movement in funds £ 2,276 (59,392) (57,116) Resources expended £ (278,786) (657,364) (936,150) Net movement in funds £ 6,133 190,145 196,278 |
At 31.3.22 £ 8,671 1,653,032 1,661,703 Movement in funds £ 2,276 (59,392) (57,116) At 31.3.21 £ 6,395 1,712,424 1,718,819 |
|
|---|---|---|---|---|
continued...
Page 17
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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 £ 199,375 745,456 944,831 |
Resources Movement expended in funds £ £ (193,242) 6,133 (555,311) 190,145 (748,553) 196,278 |
Resources Movement expended in funds £ £ (193,242) 6,133 (555,311) 190,145 (748,553) 196,278 |
|---|---|---|---|
| 196,278 |
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 1.4.20 £ 262 1,522,279 1,522,541 |
Net movement in funds £ 8,409 130,753 139,162 |
At 31.3.22 £ 8,671 1,653,032 |
|---|---|---|---|
| 1,661,703 |
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 | 480,437 | (472,028) | 8,409 |
| Restricted funds | |||
| Restricted fund | 1,343,428 | (1,212,675 ) | 130,753 |
| TOTAL FUNDS | 1,823,865 | (1,684,703 ) | 139,162 |
continued...
Page 18
Karimia Association Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 19