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2024-03-31-accounts

Registered Charity Number: 1147460

WATFORD MUSLIM YOUTH CENTRE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

LEGAL AND ADMINISTRATIVE INFORMATION

Charity Name Watford Muslim Youth Centre Charity Registration Number 1147460 Principle Office 61 Harford Drive Watford Hertfordshire WD17 3DQ Board of Trustees Zahid Mahmood Zarin Imran Khan Dr Saiqah Azad Sohbat Ali Aqib Dahoud Riaz Hannan Tabassum Mohammad Munir Bankers Lloyds Bank PLC 32A Intu Shopping Centre Watford Hertfordshire WD17 2UB

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CONTENTS

Page no
REPORT OF THE TRUSTEES 4-9
STATEMENT OF TRUSTEES’ RESPONSIBILITIES 10
INDEPENDENT EXAMINER’S REPORT 11
STATEMENT OF FINANCIAL ACTIVITIES 12
BALANCE SHEET 13
NOTES TO THE ACCOUNTS 14-18

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WATFORD MUSLIM YOUTH CENTRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024 and confirm that they comply with the Charities Act 2011, the trust deed and the Charities SORP (FRS 102).

Public Benefit Statement

The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission.

Aims and Objectives

Our Aims

To further or benefit the residents of Watford and the neighbourhoods without distinction of sex, race, religious background, ethnicity or language, by associating together the said residents and the local authorities, voluntary and other organizations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents.

In furtherance of these objects but not otherwise, the trustees shall have power: To establish or secure the establishment of a community centre and to maintain or manage or cooperate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects.

Our Objectives

Watford Muslim Youth Centre’s (WMYC) main objective of the charity is to fundraise (using various fundraising streams) to help construct a multipurpose community centre , offering a wide range of educational and recreational activities for everyone especially the youth. WMYC hopes to form the ideal place to address community problems and provide solutions for the entire community. The prospect of a community centre offers a much-needed resource to bring all communities together to create a vibrant environment to facilitate the development of the youth.

In addition to fundraising, we also try to implement the following objectives either within our fundraising events or separate non-fundraising events:

Review of activities and achievements

Watford MP Dean Russell’s Sponsored Fast

Watford locals gathered for a meaningful iftar event, where MP Dean Russell completed a sponsored fast, raising an impressive £1,200 for Watford Muslim Youth centre. Dean said: “One of the things that really comes to mind when I think of the Muslim community in Watford is the word community, I see how we work together we support each other we help each other.” The evening was filled with inspiring speeches in the spirit of Charity and delicious food as attendees broke their fast together.

Watford Football Club hosts Iftar Functions

In April 2023, Watford Football Club’s ‘We Campaign’ team hosted a wonderful iftar event that brought the local community together. Attendees enjoyed a delicious three-course meal while breaking their fast and celebrating the spirit of Ramadan. The evening featured heartfelt speeches, updates on Watford Muslim Youth Centre construction progress, and moments of reflection through prayers, highlighting the importance of community during this special month. Inspector Matt Langley from the Watford Police department remarked “Lovely evening, thanks for the invite, hopefully we can do this more often.” Taofiq Olomowewe, a professional footballer for Burnley said: “I feel like with faith and community it’s interlinked, I see you as my brothers in Islam.”

In March 2024, we enjoyed another wonderful iftar event. The night featured a stadium tour, offering a unique behind-the-scenes experience at the club. A fun fundraising auction added an exciting element, with proceeds supporting the charity and its initiatives. Attendees were inspired by heartfelt speeches that highlighted the charity's progress and impact. The evening also included a moment for congregational prayer and spiritual reflection, allowing everyone to come together in gratitude and mindfulness. To cap off the night, guests all enjoyed a delicious three-course meal, fostering connections among friends and family.

Baroness Dorothy Thornhill (former Elected Mayor of Waford) said: “There has never been a @me where a centre for young, Muslim youth is more needed in our town.” Peter Taylor (current Elected Mayor of Waford) said: “The WaCord Muslim Youth Centre is a brilliant project and we’ve been suppor@ng it for many many years, It’s great to see the progress that’s been made in the building and already the impact that the team are making, we’ve had events here at Vicarage road and right across WaCord.” Ian Stotesbury (Councillor) said: “Sharing each other’s company and thinking about faith, thinking about our experiences and hopefully raising some money to get this wonderful building finished for the community. Not just the Muslim community in WaCord but for the whole community across the town.”

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Mentoring

Professional volunteers deliver effective mentoring for people who are seeking guidance in their lives. This may relate to education, careers, health, spirituality, religious understanding and community cohesion. Tackling extremist ideas is also a central theme for our volunteers to ensure we can live in a harmonious society.

Women’s Health, Wellbeing and Reflection Seminars

Over the past year, we successfully hosted a series of impactful seminars focused on Women’s Health, Wellbeing, and Reflection, featuring expert presentations by qualified doctors. These sessions empowered our community and encouraged open dialogue on crucial and usually taboo health topics. Highlights Included:

These seminars created a supportive environment for sharing experiences and learning together, reinforcing our commitment to women’s health and community wellbeing.

Funday at Watford Football Club Stadium

Approximately 5000 people filled Watford Football Stadium for an unforgettable Family Funday. The event was a tremendous success, raising thousands of pounds for the Watford Muslim Youth Centre and bringing the community together in celebration. A local police officer remarked; “It’s nice to see so many people from so many different parts of the community, you know. And it’s nice people coming up to us, talking to us… Yeah, Alhumdulillah great day, great day.”

Families enjoyed a wide array of activities, from exciting games and friendly football matches to a vibrant selection of artisan stalls showcasing local talent. Delicious food , treats and raffle prizes were on offer. The day also featured a moment of togetherness with a congregational prayer, emphasising the spirit of community and shared values. Feedback from attendees was overwhelmingly positive, highlighting the event as a wonderful opportunity to connect with our local Football Club, which many deemed to be difficult otherwise. Peter Taylor (Elected Mayor of Watford) said “It’s fantastic to be here today at Vicarage Road on the pitch for the first time with hundreds of people here and loads of community groups, all coming together to support the Watford Muslim Youth Centre. And I know that’s what the Watford Muslim Youth Centre is going to be all about, bringing people together, sharing our experiences and having a good time.”

Ladies Badminton Club

A women’s only Badminton Club was set up to champion women’s health and offer a place for women to come together for a night of social badminton fun. Women are encouraged to stay active as a means of promoting health and well-being. Sessions are hosted weekly.

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8-A-Side Cricket Charity Tournament

We hosted an exciting 8-a-side Cricket Charity Tournament that brought teams together for a day filled with competition and community spirit! With over £1000 raised for the charity, the event was a fantastic success. Teams showcased their skills on the pitch, all vying for trophies that were presented by Elected Watford Mayor Peter Taylor and MP Dean Russell.

Kayaking trip

WMYC organised kayaking trip to raise money for the charity. Families and friends gathered for a day filled with laughter, teamwork, and adventure on the water!

Local Family Funday

We had an amazing time at our recent Family Funday, co-hosted by W3RT (Watford & 3 Rivers Trust)! Families from the community came together for a day filled with laughter and activities, all while supporting a great cause. Attendees enjoyed delicious food, browsed various stalls, and participated in fun activities for children. The highlight of the day included football sessions led by coaches from Watford Football Club, as well as exciting badminton matches that got everyone moving! Funds from the stalls and games were raised for the charity.

Law Students Work Experience

In conjunction with Citizens Advice Watford (CAW), we promoted a campaign to offer work experience for aspiring lawyers. We had a good level of interest, and many referrals were shared with CAW. We wish these young professionals all the best in the future careers.

Children's Iftar Quiz Night

We had a fantastic time at our Children's iftar quiz night hosted by Watford Football Club. The children enjoyed a delicious meal after diving into an exciting quiz filled with fun questions on various topics. The atmosphere was buzzing with enthusiasm as teams collaborated and cheered each other on.

786 Club

The 786 Club has been formed to provide a platform for the personal and religious development of our local youth. It comprises of Mentors who are young professionals (including doctors, dentists, consultants, solicitors and teachers) that are well versed in religious understanding. We are seeking to offer guidance and inspiration by volunteering our free time to the character building of today’s youth and tomorrow’s future.

786 Club is aiming to nurture the minds and hearts of our children, so that they learn how to implement Islamic teachings in the modern world. This is to be done in a fun way and by providing ‘big brother’ and ‘big sister’ support to help them grow into well-rounded adults.

The 786 Club aims to give young people the opportunity to:

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Plans for Future Periods

We intend to continue to raise funds towards the construction of the multipurpose community centre via fundraising events and applications of grants. We also intend to expand on our existing range of community activities for the residents of Watford and surrounding areas.

Financial Review

During 2023-2024, the charity’s activities continued to focus on delivering the needs of the community as well as establishing a multipurpose community Centre.

The charity’s incoming resources totalled to £64k in the year (2023: £54k). These comprise of donations and collections. A surplus of £57k (2023: £48k) is recorded for the period and, at 31 March 2024, reserves of £1.37M (2023: £1.31M) are shown.

Reserves Policy

There are no current operating costs in existence and the current policy is to maximise reserves as part of financing future activities including the establishment of a multipurpose community centre.

Principle Funding Sources

The charity’s main source of income is donations and monies raised from fundraising events.

Investment policy and objectives

The charity has no long-term investment. Our cash reserves are held in a charity deposit account.

Structure, Governance and Management

Governing Document

Watford Muslim Youth Centre (WMYC) is constituted as a charitable trust and registered with the Charity Commission on 25 May 2012 under the charity number 1147460. It is governed by a deed of trust dated 16 May 2012.

Organisational Structure

The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefit.

The trustees meet as a body at least twice a year and are responsible for all decisions taken in relation to the community facilities and activities provided by the charity. To assist in the smooth running of the charity, the trustees have set up several sub-committees that consist of the Central Executive Committee, Finance Committee, Activity Committee, Grants and Consultation Committee, Corporate Fundraising Committee and the Fundraising Committee.

Recruitment and appointment of trustees

The existing trustees are responsible for the appointment of new trustees and will take into consideration the views and recommendations of both the elders and community leaders. This approach ensures the new trustees are respected members of the local community, ensuring that good relations are fostered with the people of the local community we serve.

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In selecting new trustees, we seek to identify people who regularly attend fundraising events and charitable activities organised by the charity and are willing to volunteer to help in our broader community work especially for youth work. Potential trustees are invited to attend trustees’ meetings as observers and are given more details of the charity’s aim and objectives and, if all agree, they are then proposed as a new trustee at the subsequent trustee’s meeting. This process allows due consideration of the person’s eligibility, personal competence, specialist knowledge and skills.

Induction and training of trustees

Following appointment, new trustees are introduced to their new role and given copies of the trust deed and a guide to the policies and procedures adopted by our charity. A number of publications from the Charity Commission are also provided including the guidance on charities and 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 particular activities and projects run by the charity. After satisfactory feedback from existing trustees, they are given the task of leading a particular activity or project, reporting progress at trustees’ meetings.

All trustees and members of the sub-committees will have access to a wide variety of training opportunities in order to equip them to fulfil the aims and objectives of the charity.

Risk Management

The trustees have assessed the risks to the charity and review these risks regularly during the meetings held throughout the year. Risks are continually being identified and their impacts are assessed. It can be reported that, to date, the exercise of risk management has indicated minimal areas of concern, though it is recognised that systems can only provide reasonable, not absolute, assurance that all major risks have been adequately identified.

Use of Volunteers

Volunteers are important resource in our community work. We have over 40 people regularly giving their time in order to achieve the charity’s aims and objectives. All of our volunteers also give up their time freely. We encourage all members of the community to be involved in voluntary activities and to share skills with each other. All those volunteers working on projects involving children or other vulnerable groups are required to undergo Disclosure and Barring Service (DBS) checks.

Patrons and Supporters

Our existing patrons and supporters are:

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The charity’s trustees are responsible for the preparation of an annual report and financial statements in accordance with applicable law and United Kingdom accounting standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which gives true and fair view of the state of affairs of the charity and of the incoming resources of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees for the purposes of charity law who served during the year end and up to the date of this report are set out on the Legal and administrative information page of this report.

Approved by the trustees on 8[th] December 2024 and signed on their behalf by:

Zahid Zarin (Chair of Trustees) 8[th] December 2024

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WATFORD MUSLIM YOUTH CENTRE

I report to the trustees on my examination of the accounts of the Watford Muslim Youth Centre Trust (the Trust) for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

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

Signed:

Hedayatullah Yahya FCCA Chartered Certified Accountant Yahya & Co Accountants Ltd 164 West Hendon Broadway London NW9 7AA

22[nd] January 2024

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Total Funds Total Funds
Notes Funds 2024 2023
£ £ £
INCOMING RESOURCES
Incoming resources from
generated funds:
Donation & legacies 3 58,617 58,617 52,604
Charitable Activities 4 4,941 4,941 1,043
Other trading activities 5 0 0 0
Other incoming resources 6 0 0 0
TOTAL INCOMING RESOURCES 63,558 63,558 53,647
RESOURCES EXPENDED
Costs of generating funds 1,907 1,907 2,809
Charitable activities 5,078 5,078 3,080
TOTAL RESOURCES EXPENDED 7 6,985 6,985 5,889
NET MOVEMENTS IN FUNDS 56,573 56,573 47,758
Reconciliation of funds
Total funds brought forward 1,309,091 1,309,091 1,261,333
TOTAL FUNDS CARRIED FORWARD 1,365,664 1,365,664 1,309,091

The statement of Financial Activities included all gains and losses in the year.

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BALANCE SHEET AS AT 31 MARCH 2024

Note
£
£
£
£
Fixed Assets
Tangible Assets
8
1,433,613
1,304,134
Current Assets
Debtors
9
17,116
17,116
Cash at bank
206,556
321,245
Total Current Assets
223,672
338,361
Liabilities
Creditors: Amounts falling due within
one year
10
25,266
34,006
Net Current Assets or (Liabilities)
198,406
304,355
Creditors: Amounts falling due after
more than one year
11
266,355
299,398
266,355
299,398
Net Assets/(Liabilities)
1,365,664
1,309,091
The funds of the charity:
Unrestricted funds
12
1,365,664
1,309,091
Total charity funds
1,365,664
1,309,091
2024
2023		 Note
£
£
£
£
Fixed Assets
Tangible Assets
8
1,433,613
1,304,134
Current Assets
Debtors
9
17,116
17,116
Cash at bank
206,556
321,245
Total Current Assets
223,672
338,361
Liabilities
Creditors: Amounts falling due within
one year
10
25,266
34,006
Net Current Assets or (Liabilities)
198,406
304,355
Creditors: Amounts falling due after
more than one year
11
266,355
299,398
266,355
299,398
Net Assets/(Liabilities)
1,365,664
1,309,091
The funds of the charity:
Unrestricted funds
12
1,365,664
1,309,091
Total charity funds
1,365,664
1,309,091
2024
2023		 Note
£
£
£
£
Fixed Assets
Tangible Assets
8
1,433,613
1,304,134
Current Assets
Debtors
9
17,116
17,116
Cash at bank
206,556
321,245
Total Current Assets
223,672
338,361
Liabilities
Creditors: Amounts falling due within
one year
10
25,266
34,006
Net Current Assets or (Liabilities)
198,406
304,355
Creditors: Amounts falling due after
more than one year
11
266,355
299,398
266,355
299,398
Net Assets/(Liabilities)
1,365,664
1,309,091
The funds of the charity:
Unrestricted funds
12
1,365,664
1,309,091
Total charity funds
1,365,664
1,309,091
2024
2023
1,309,091
1,309,091
1,309,091

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies

1.1 Basis of accounting

The financial statements have been prepared under the historic cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005, and applicable to UK Accounting Standards and the Charities Act 2011.

1.2 Fund structure

Unrestricted income funds comprise of those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.

Restricted funds are funds which are used in accordance with specific restrictions imposed by the donor or the terms of a specific appeal.

1.3 Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources. It is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. The following specific policies are applied to particular categories of income:

Voluntary Income is received by way of donations, collections, charity boxes and is included in the Statement of Financial Activities on a receipt basis.

Income resources from generating funds are accounted for when earned.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services donated by volunteers has not been included in these accounts, except where the services provided are in the nature of professional services where a fee would otherwise be charged, in which case the donated service is valued at their chargeable rate.

Investment Income is included when receivable.

Incoming resources from grants, where there are performance or service deliverables required by the terms of the grant, are accounted for as the charity earns the right to payment through its performance.

Income resources from charitable trading activity are accounted for when earned.

1.4 Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. All expenditures are taken into consideration on an accruals basis and have been classified under appropriate headings in the statement of financial activities.

1.5 Value Added Tax

Value added tax is not recoverable by the charity and charged against the category of the resources expended for which it was incurred.

1.6 Cost of generating funds

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Costs of generating funds are those costs incurred in attracting voluntary income, or incurred in trading activities taken to raise funds.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1.7 Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the direct pay and non-pay costs and support costs relating to those activities.

1.8 Leasehold land and depreciation

Lease premium on land is stated at cost less depreciation. Depreciation is provided to write off cost of the asset over the term of the lease.

1.9 Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised. Fixed assets are stated at historic cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment 25% straight line Computer equipment 33% straight line

2. Related party transactions and trustees’ remuneration

There were no donated services from trustees (2024: £nil). Trustees received no emoluments (2024: £nil).

3. Incoming resources from voluntary income

Donations
Collections		 Unrestricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
58,617
58,617
52,604
0
0
0
58,617
58,617
52,604

4. Incoming resources from charitable activities

Incoming resources from charitable activities
Event Income Unrestricted
Total
Total
Funds
2024
2023
£
£
£
4,941
4,941
1,043
4,941
4,941
1,043

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Activities from other trading activities

Event Income Unrestricted
Total
Total
Funds
2024
2023
£
£
£
-
-
-
-
-
-

6. Other incoming resources

License Income
Rental Income		 Funds
2024
2023
£
£
£
-
-
-
-
-
-
-
-
-

7. Resources expended

Cost of generating funds
Charitable activities		 Unrestricted
Funds
Support
Total
Total
Direct Costs
Costs
2024
2023
£
£
£
£
704
1,203
1,907
2,809
4,781
297
5,078
3,080
5,485
1,500
6,985
5,889

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Fixed Assets: Tangible Assets
As at 1 April 2023
Additions
Disposals
As at 31 March 2024
Depreciation
As at 1 April 2023
Charge for the year
Disposals
As at 31 March 2024
Net Book Value
At 31 March 2024
At 31 March 2023
1,304,134
129,479
-
1,433,613
-
-
-
~~-~~
1,433,613
1,304,134

Costs relating to the construction of community centre have been capitalised.

Costs relating to the construction of community centre have been capitalized.

The leasehold land was valued professionally at £2,600,000 in 2018. The valuation complies with the international valuation standards and has been carried out in accordance with the professional practice.

The lease premium on the land will start to depreciate 10 days after the date of practical completion date over the agreed lease term of 125 year as stipulated in the sign lease agreement.

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9. Analysis of debtors

Prepayments- Insurance
Total		 2024
2023
£
£
17,116
17,116
17,116
17,116

10. Creditors: Amounts falling due within one year

Trade creditors
Loan repayments
Total		 2024
2023
£
£
17,106
27,106
8,160
6,900
25,266
34,006

11. Creditors: Amounts falling after more than one year

Loans & overdrafts
Loan- Watford council
Total		 2024
2023
£
£
116,355
149,398
150,000
150,000
266,355
299,398

12. Analysis of funds

Unrestricted funds:
Unrestricted general funds		 Balance
Incoming
Resources
Fund
b/fwd
resources
expended
c/fwd
£
£
£
£
1,309,091
63,558
6,985 1,365,664
1,309,091
63,558
6,985 1,365,664

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