COMPANY REGISTRATION NUMBER: 06902369 CHARITY REGISTRATION NUMBER: 1146668
PURLEY ISLAMIC COMMUNITY CENTRE Company Limited by Guarantee Unaudited Financial Statements
31 May 2024
SALEEMI ASSOCIATES
Registered Auditors and Chartered Accountants 792 Wickham Road Croydon CR0 8EA
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Financial Statements
Year ended 31 May 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8 |
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 May 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2024.
Reference and administrative details
Registered charity name PURLEY ISLAMIC COMMUNITY CENTRE
Charity registration number 1146668
Company registration number 06902369
Principal office and registered 130 Brighton Road office Purley CR8 4EX
The trustees
Mr Waqar Ahmed Mr Khaja Yunus Sharif (Appointed 11 July 2023) Mr Akhtar Choudhry Mr Hafeez Bux Daud Khan
Company secretary Mr Akhtar Choudhry Independent examiner Mohammad Saleemi (ICAEW) Registered Auditors and Chartered Accountants 792 Wickham Road Croydon CR0 8EA
- 1 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 May 2024
Structure, governance and management
Purley Islamic Community Centre is a company limited by guarantee (incorporated on 11 May 2009) and a registered charity in England (number1146668, registered on 29 March 2012) governed by its Memorandum and Articles of Association.
Trustees of the Charity are nominated and appointed in accordance with the terms set out in the Articles of Association.
Objectives and activities
The objects of the charity are: -
-
To uphold and preserve the religion of Islam in accordance with the tenets and doctrines of the Sunni and Hanafi school of thought
-
To promote harmony and understanding between the Muslim community and other Faith communities
-
To provide educational facilities for adults and children
-
To establish and run a community centre and a prayer facility in Purley in furtherance of the aforementioned objects
-
To purchase land and property in furtherance of the above objectives
-
To assist financially and / or otherwise members of the community in need
-
To work in cooperation and to coordinate with other similar organisations
-
To seek financial assistance from the community in furtherance of the above objectives
-
To make the building and operations as environmentally friendly as possible bearing in mind the cost benefit analysis
Achievements and performance
The year ending 31 May 2024 marked a period of sustained progress in advancing our mission to construct a new Purley Masjid at its original site. Despite having less emphasis on large-scale fundraising efforts this year compared to previous years, we still achieved significant contributions to the restricted funds allocated for the masjid rebuild as well as unrestricted funds. Weekly community collections continued to play a central role in our fundraising activities, complemented by smaller, targeted campaigns that maintained community engagement and support.
A notable milestone during the year was the completion of the basement of the new masjid-the most technically challenging aspect of the construction. This critical phase ensured the structural stability necessary to support a six-floor structure. The basement was built to be watertight, with proper drainage systems installed and fire safety as a top priority to ensure the masjid will be a safe place for all its users. The outer and interior partition walls for the first and ground floors have also been completed, and the construction continues to grow taller, bringing us closer to realising our vision. The new masjid has been constructed using insulated concrete form (ICF), a state-of-the-art building
- 2 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 May 2024
technique that ensures excellent insulation and significantly reduces the building's carbon footprint. Plans for the masjid also include the installation of air-source heat pumps and solar panels, further enhancing its sustainability and eco-friendly design. Beyond the construction, we have expanded our community impact through partnerships and charitable initiatives. We collaborated with the National Zakat Foundation (NZF) to provide weekly support to the most vulnerable members of our community, making a meaningful difference in their lives. Furthermore, we supported several other charities to raise funds for people suffering worldwide due to natural disasters, such as earthquakes and floods, as well as conflicts and wars.
Financial review
During the financial year, the charity generated an unrestricted income of £193,130, representing a 20% reduction compared to the previous year. This reduction can be attributed to multiple factors. We focused on smaller initiatives to sustain fundraising for the masjid construction and supported other charitable collections at the masjid for fund raising initiatives throughout the UK and the world.
Restricted income, designated for specific purposes such as the masjid rebuild, totalled £240,728. While this is a reduction from the previous year's £318,286, it reflects the continued strength of pledged contributions gradually coming in. Total gross income, including endowments, decreased to £433,858 from £558,794 in the prior year, consistent with the above factors.
Expenditure for the year remained stable, with total costs recorded at £176,770 compared to £157,892 in the previous year. This reflects costs associated with leasing the temporary premises and operational expenses. Despite these challenges, the charity maintained a healthy unrestricted reserve balance, providing sufficient working capital for the next 12 to 18 months.
The primary sources of funding continue to be Friday and Ramadan collections, as well as general donations. These contributions are vital in supporting both the day-to-day operations and the strategic objectives of the charity.
Plans for future periods
Looking ahead, we aim to complete the masjid project by the end of 2025. Once completed, the new facility will provide an adequate and comfortable space for our daily prayer needs as well as a wide range of activities, including youth clubs, children's educational classes, baby and toddler groups, talks and events and much more. This vision underscores our commitment to creating a vibrant and inclusive community hub.
Acknowledgements
Finally, we extend our heartfelt gratitude to our contributors, partners, donors and volunteers for their continued and unwavering support. Their generosity and dedication have been instrumental
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of 22/2/r< trustees by:
Mr Waqar Ahmed Trustee
Mr Hafeez Bux Daud Khan Trustee
- 3 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of PURLEY ISLAMIC COMMUNITY CENTRE
Year ended 31 May 2024
I report to the trustees on my examination of the financial statements of PURLEY ISLAMIC COMMUNITY CENTRE ('the charity') for the year ended 31 May 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), 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 charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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.
Mohammad Saleemi Chartered Accountant (ICAEW) Saleemi Associates 792 Wickham Road Croydon CR0 8EA
- 4 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 May 2024
| Year ended 31 May 2024 | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 126,305 | 240,728 | 367,033 | 498,242 |
| Charitable activities | 6 | 35,928 | – | 35,928 | 38,414 |
| Other trading activities | 7 | 30,897 | – | 30,897 | 22,138 |
| --------------------------------- | --------------------------------- | --------------------------------- | --------------------------------- | ||
| Total income | 193,130 | 240,728 | 433,858 | 558,794 | |
| ================================= | ================================= | ================================= | ================================= | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 133,060 | 43,709 | 176,770 | 157,892 |
| --------------------------------- | --------------------------------- | --------------------------------- | --------------------------------- | ||
| Total expenditure | 133,060 | 43,709 | 176,770 | 157,892 | |
| ================================= | ================================= | ================================= | ================================= | ||
| --------------------------------- | --------------------------------- | --------------------------------- | --------------------------------- | ||
| Net income and net movement in | funds | 60,070 | 197,019 | 257,088 | 400,902 |
| ================================= | ================================= | ================================= | ================================= | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 607,241 | 2,202,088 | 2,809,329 | 2,408,427 | |
| --------------------------------- | ------------------------------------------ | ------------------------------------------ | ------------------------------------------ | ||
| Total funds carried forward | 667,311 | 2,399,107 | 3,066,418 | 2,809,329 | |
| ================================= | ========================================== | ========================================== | ========================================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
- 5 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Statement of Financial Position
31 May 2024
| 31 May 2024 | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 1,715,957 | 1,503,806 | |
| Current assets | ||||
| Cash at bank and in hand | 1,420,305 | 1,323,308 | ||
| Creditors: amounts falling due within one year | 15 | 69,845 | 17,785 | |
| ------------------------------------------ | ------------------------------------------ | |||
| Net current assets | 1,350,460 | 1,305,523 | ||
| ------------------------------------------ | ------------------------------------------ | |||
| Total assets less current liabilities | 3,066,417 | 2,809,329 | ||
| ------------------------------------------ | ------------------------------------------ | |||
| Net assets | 3,066,417 | 2,809,329 | ||
| ========================================== | ========================================== | |||
| Funds of the charity | ||||
| Restricted funds | 2,399,107 | 2,202,088 | ||
| Unrestricted funds | 667,311 | 607,241 | ||
| ------------------------------------------ | ------------------------------------------ | |||
| Total charity funds | 3,066,418 ========================================== |
2,809,329 ========================================== |
For the year ending 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: 29/2/72
Mr Waqar Ahmed Trustee
Mr Hafeez Bux Daud Khan Trustee
The notes on pages 8 to 15 form part of these financial statements.
- 6 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Statement of Cash Flows
| Statement of Cash Flows | ||
|---|---|---|
| Year ended 31 May 2024 | ||
| 2024 | 2023 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 257,088 | 400,902 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | – | 5,434 |
| Accrued expenses/(income) | 52,060 | (11,839) |
| Changes in: | ||
| Trade and other debtors | – | 26,596 |
| --------------------------------- | --------------------------------- | |
| Cash generated from operations | 309,148 | 421,093 |
| --------------------------------- | --------------------------------- | |
| Net cash from operating activities | 309,148 | 421,093 |
| ================================= | ================================= | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (212,151) | (225,875) |
| --------------------------------- | --------------------------------- | |
| Net cash used in investing activities | (212,151) | (225,875) |
| ================================= | ================================= | |
| Net increase in cash and cash equivalents | 96,997 | 195,218 |
| Cash and cash equivalents at beginning of year | 1,323,308 | 1,128,090 |
| ------------------------------------------ | ------------------------------------------ | |
| Cash and cash equivalents at end of year | 1,420,305 | 1,323,308 |
| ========================================== | ========================================== |
The notes on pages 8 to 15 form part of these financial statements.
- 7 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 130 Brighton Road, Purley, CR8 4EX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
- 8 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.
- 9 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
- 25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
- 10 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The Charity is a registered in Companies House as Company limited by guarantee and has no share capital. Every member of the Charity undertakes to contribute such amount as my be required (not exceeding 10 (pounds)) to the Charity's assets if it should be wound up while he or she is a member or within a year after he or she ceases to be member, for payment of the Charity's debts and liabilities contracted before he or she ceases to be a member, and of the cots, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 126,305 | 240,728 | 367,033 |
| Gift Aid | – | – | – |
| --------------------------------- | --------------------------------- | --------------------------------- | |
| 126,305 | 240,728 | 367,033 | |
| ================================= | ================================= | ================================= |
- 11 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 172,767 | 318,286 | 491,053 |
| Gift Aid | 7,189 | – | 7,189 |
| --------------------------------- | --------------------------------- | --------------------------------- | |
| 179,956 | 318,286 | 498,242 | |
| ================================= | ================================= | ================================= |
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Income from charitable activities and | ||||
| events | 35,928 | 35,928 | 38,414 | 38,414 |
| ============================ | ============================ | ============================ | ============================ | |
| Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Membership fees | 20 | 20 | – | – |
| Rental income from sub-letting | 17,240 | 17,240 | 22,138 | 22,138 |
| Other income | 10,000 | 10,000 | – | – |
| Sundry income | 3,637 | 3,637 | – | – |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 30,897 | 30,897 | 22,138 | 22,138 | |
| ============================ | ============================ | ============================ | ============================ |
7. Other trading activities
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Expenditure on charitable activities | 130,634 | 43,709 | 174,343 |
| Support costs | 2,426 | – | 2,426 |
| --------------------------------- | ---------------------------- | --------------------------------- | |
| 133,060 | 43,709 | 176,770 | |
| ================================= | ============================ | ================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Expenditure on charitable activities | 145,565 | 9,900 | 155,465 |
| Support costs | 2,427 | – | 2,427 |
| --------------------------------- | ----------------------- | --------------------------------- | |
| 147,992 | 9,900 | 157,892 | |
| ================================= | ======================= | ================================= |
- 12 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Expenditure on charitable activities | 174,343 | – | 174,343 | 155,465 |
| Governance costs | – | 2,426 | 2,426 | 2,427 |
| --------------------------------- | ----------------------- | --------------------------------- | --------------------------------- | |
| 174,343 | 2,427 | 176,770 | 157,892 | |
| ================================= | ======================= | ================================= | ================================= | |
| Net income | ||||
| Net income is stated after charging/(crediting): | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | – | 5,434 | ||
| ============== | ======================= | |||
| Independent examination fees | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial | statements | 2,000 ============== |
2,000 ======================= |
10. Net income
11. Independent examination fees
12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Wages and salaries | 23,472 | 22,441 |
| Employer contributions to pension plans | 1,589 | 836 |
| ---------------------------- | ---------------------------- | |
| 25,061 | 23,277 | |
| ============================ | ============================ |
The average head count of employees during the year was 1 (2023: 1). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Number of staff | 1 | 1 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
None of the trustee or management committee member were remunerated or paid any expenses.
- 13 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
14. Tangible fixed assets
| Land and | Fixtures and | ||
|---|---|---|---|
| buildings | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 June 2023 | 1,503,806 | 33,479 | 1,537,285 |
| Additions | 212,151 | – | 212,151 |
| ------------------------------------------ | ---------------------------- | ------------------------------------------ | |
| At 31 May 2024 | 1,715,957 | 33,479 | 1,749,436 |
| ========================================== | ============================ | ========================================== | |
| Depreciation | |||
| At 1 June 2023 and 31 May 2024 | – | 33,479 | 33,479 |
| ========================================== | ============================ | ========================================== | |
| Carrying amount | |||
| At 31 May 2024 | 1,715,957 | – | 1,715,957 |
| ========================================== | ============================ | ========================================== | |
| At 31 May 2023 | 1,503,806 | – | 1,503,806 |
| ========================================== | ============================ | ========================================== | |
| Creditors: amounts falling due within one year | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 69,845 ============================ |
17,785 ============================ |
15. Creditors: amounts falling due within one year
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,589 (2023: £836).
17. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | – | 1,715,957 | 1,715,957 |
| Current assets | 672,385 | 747,920 | 1,420,305 |
| Creditors less than 1 year | (5,075) | (64,770) | (69,845) |
| --------------------------------- | ------------------------------------------ | ------------------------------------------ | |
| Net assets | 667,311 | 2,399,107 | 3.066,418 |
| ================================= | ========================================== | ========================================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | – | 1,503,806 | 1,503,806 |
| Current assets | 620,026 | 703,282 | 1,323,308 |
| Creditors less than 1 year | (17,785) | – | (17,785) |
| --------------------------------- | ------------------------------------------ | ------------------------------------------ | |
| Net assets | 602,241 | 2,207,088 | 2,809,329 |
| ================================= | ========================================== | ========================================== |
- 14 -
PURLEY ISLAMIC COMMUNITY CENTRE
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 May 2024
18. Analysis of changes in net debt
| At | At | |||
|---|---|---|---|---|
| 1 | Jun 2023 | Cash flows | 31 May 2024 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 1,323,308 | 96,997 | 1,420,305 | |
| ========================================== | ============================ | ========================================== |
19. Related parties
During the year the Charity was under the control of Trustees and Management Committee members as listed on page 1. None of the trustee or management committee member were remunerated or paid any expenses. However, they used the facilities offered by the Charity for performance of their religious duties like other members of the Muslim community.
- 15 -