2020-08-31-accounts - Nottingham Islam Information Point

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Nottingham Islam Information Point

Charity No. 1147992

Trustee's Report and Unaudited Accounts

31 August 2020

Nottingham Islam Information Point Contents

	Pages
Trustee's Annual Report	3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Statement of Cash flows	10
Notes to the Accounts	11
Detailed Statement of Financial Activities	13 to

Page 1

Nottingham Islam Information Point Trustees Annual Report

The Trustee presents his report with the unaudited financial statements of the charity for the year ended 31 August 2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1147992

Principal Office

Address Line 5

Trustee

The following Trustee served during the year:

H. Holmes

Key Management Personnel

		KMP Name	1
KMP	2	KMP Name	2
KMP	3	KMP Name	3
KMP	4	KMP Name	4
KMP	5	KMP Name	5

Accountants

A H Accountants ltd 394 Alfreton Raod NG7 5NE

Bankers

Address Line 5

Solicitors

Address Line 5

Investment Advisors

Address Line 5

ACHIEVEMENTS AND PERFORMANCE

A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...

A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...

A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...

A large charity must provide an explanation of any material expenditure occurred to raise income in the future...

Page 2

Nottingham Islam Information Point Trustees Annual Report

A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...

PLANS FOR FUTURE PERIODS

A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...

A large charity's report should explain the trustees perspective of the future direction of the charity...

The Trustee is 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed

H. Holmes Trustee 31 August 2020

Page 3

Nottingham Islam Information Point Independent Examiners Report

Independent Examiner's Report to the trustee of Nottingham Islam Information Point

I report to the trustees on my examination of the accounts of Nottingham Islam Information Point for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the charity's trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustee considers that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity'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 can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

A Faizan Wajahat AFA, MIPA A H Accountants ltd 394 Alfreton Raod

NG7 5NE 31 August 2020

Page 4

Nottingham Islam Information Point Statement of Financial Activities

for the year ended 31 August 2020

Unrestricte d funds 2020 £ 70,194	Restricted funds 2020 £ -	Total funds 2020 £ 70,194	Total funds 2019 £ 81,842
70,194 41,591 26,382	- - -	70,194 41,591 26,382	81,842 61,313 -
67,973 -	- -	67,973 -	61,313 -
2,221 -	- -	2,221 -	20,529 -
2,221	-	2,221	20,529
2,221 239,976	- 183,739	2,221 423,715	20,529 403,186
242,197	183,739	425,936	423,715

Page 5

Nottingham Islam Information Point Balance Sheet

at 31 August 2020

Charity No. 1147992 Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 10 Restricted income funds Unrestricted funds 10 General funds Reserves 10 Total funds	2020 £ 390,284 390,284 - 35,652 35,652 35,652 425,936 425,936 425,936 183,739 183,739 242,197 242,197 425,936	2019 £ 390,503
		390,503 8,793 24,419
		33,212
		33,212 423,715
		423,715
		423,715
		183,739
		183,739 239,976
		239,976
		423,715

Approved by the trustees on 31 August 2020

And signed on their behalf by:

H. Holmes Trustee 31 August 2020

Page 6

Nottingham Islam Information Point Notes to the Accounts

for the year ended 31 August 2020

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Nottingham Islam Information Point Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Nottingham Islam Information Point Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Nottingham Islam Information Point Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Expenditure on charitable activities Expenditure on charitable activities Governance costs	Unrestricted funds 2019 £ 81,842 81,842 61,313 61,313 20,529 20,529 20,529 219,447 239,976 Unrestricted £ 70,194 - 70,194 Unrestricted £ 41,591 41,591	Restricted funds 2019 £ - - - - - - - 183,739 183,739 Total 2020 £ 70,194 - 70,194 Total 2020 £ 41,591 41,591	Total funds 2019 £ 81,842
			81,842 61,313
			61,313
			20,529
			20,529
			20,529 403,186
			423,715
			Total 2019 £ 72,338 9,504
			81,842
			Total 2019 £ 61,313
			61,313

Page 10

Nottingham Islam Information Point Notes to the Accounts

5 Other expenditure

Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 6 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 8 Tangible fixed assets Cost or revaluation At 1 September 2019 At 31 August 2020 Depreciation and impairment Depreciation charge for the year At 31 August 2020 Net book values At 31 August 2020 At 31 August 2019 9 Debtors Trade debtors	Unrestricted £ 12,178 11,584 219 2,239 162 26,382 2020 £ 219 12,178 12,178 £ 388,316 388,316 - - 388,316 388,316 2020 £ - -	Total 2020 £ 12,178 11,584 219 2,239 162 26,382 £ 2,187 2,187 219 219 1,968 2,187	Total 2019 £ - - - - -
			-
			2019 £ - -
			-
			£ 390,503
			390,503
			219
			219
			390,284
			390,503
			2019 £ 8,793
			8,793

Page 11

Nottingham Islam Information Point Notes to the Accounts

10 Movement in funds

Incoming resources (including other gains/losses ) £ - - 70,194 70,194 At 1 September 2019 £	Resources expended £ - - (67,973) (67,973) Unrestricted funds £ 390,284 35,652 425,936 Cash flows £	At 31 August 2020 £ 183,739
		183,739
		242,197
		425,936
		Total £ 390,284 35,652
		425,936
		At 31 August 2020 £
24,419	11,233	35,652
24,419 24,419	11,233 11,233	35,652
		35,652

Page 12

Nottingham Islam Information Point Statement of Cash flows for the year ended 31 August 2020

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Decrease/(Increase) in trade and other receivables Decrease in trade and other payables Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2020 £ 2,221 219 8,793 - 11,233 - - 11,233 24,419 35,652	2019 £ 20,529 243 (8,793) (575)
		11,404
		-

		-

		11,404
		13,015
		24,419

Components of cash and cash equivalents
Cash and bank balances	35,652	24,419

	35,652	24,419

Page 13

Nottingham Islam Information Point Detailed Statement of Financial Activities

for the year ended 31 August 2020

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Premises costs Rates Light, heat and power Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments	Unrestricted funds 2020 £ 70,194 - 70,194 70,194 41,591 41,591 41,591 12,178 12,178 526 4,978 6,080 11,584 219 1,242 653 216 128 2,458 150 12 162 26,382 67,973 -	Total funds 2020 £ 70,194 - 70,194 70,194 41,591 41,591 41,591 12,178 12,178 526 4,978 6,080 11,584 219 1,242 653 216 128 2,458 150 12 162 26,382 67,973 -	Total funds 2019 £ 72,338 9,504
			81,842
			81,842 61,313
			61,313
			61,313 -
			-
			- - -
			-
			- - - - -
			-
			- -
			-

			-
			61,313 -

Page 14

Nottingham Islam Information Point Detailed Statement of Financial Activities

Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	239,976 242,197	2,221 2,221 - 2,221 183,739 183,739	2,221 2,221 - 2,221 423,715 425,936	20,529
				20,529 -
				20,529
				403,186
				423,715

Page 15