Registered Charity Number :- 1148796
CORBY MUSLIM ASSOCIATION (A Non-profit Charitable Organisation) TRUSTEES’ REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR END 30 April 2023
Registered Office:
CORBY MUSLIM ASSOCIATION 22 Parkside Ecton Brook Northampton NN3 5EW
CORBY MUSLIM ASSOCIATION
CONTENTS
FOR THE YEAR ENDED 30 April 2023
TRUSTEES' REPORT ...................................................................................................................................................... 1 to 3 INDEPENDENT EXAMINER'S REPORT ................................................................................................................................. 4 RECEIPT AND PAYMENT .............................................................................................................................................. 5 to 6 STATEMENT OF ASSETS AND LIABILITIES ........................................................................................................................... 7 NOTES TO THE FINANCIAL STATEMENTS .................................................................................................................. 8 to 15
CORBY MUSLIM ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 April 2023
TRUSTEES' REPORT
The Trustees' present their report and the financial statements for the year ended 30 April 2023.
Members of the Management Committee
The following served as charity trustees during the year and up to the date of this report:
Amir Ali Ayna Chaudhury Mohammed Samir Miah P Sadik Chaudhury
Structure, Governance and Management
Governing Document
Corby Muslim Association is a non- profitable charity organisation, which is governed by its constitution on 29th August 2012. It is registered as a charity with the Charity Commission on 03rd September 2012 . All Members of the Management Committee give their time voluntarily and receive no benefits from the charity.
Organisational Structure
The Charity is managed by an Executive Committee and it is responsible for the ultimate performance of the Charity. Members meet monthly and receive a financial review every three months.
Objectives and Activities
The principal activities and objectives of the Charity are to facilitate for the people of Corby to conduct all religious and social activities in accordance with the Holy Qur'an and Sunnah.
Financial Review
The Charity's reserves as at 30 April 2023 total £444,067 which will be used for the purposes on which the funds were provided for.
The Organisation has a net surplus for the current year of £43,153.
Principal Funding Sources
The principal funding sources for the charity are currently donation and voluntary income from the public. The Charity will continue to seek funding from other agencies in order to maintain its charitable activities.
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CORBY MUSLIM ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 April 2023
Public Benefit
The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit and that the activities carried out by the charity during the year were all undertaken in order to further the charity's aims for the benefit of the charity's beneficiaries. Our services meet the needs of a Corby Muslim community ranging from children and families to older people.
Responsibilities of the Trustees
Financial Act requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the surplus or deficit of the Company for that period. In preparing those financial statements, the management committee is required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on going concern basis unless it is inappropriate to presume that the Charity will continue.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members of the Management Committee
Members of the Management Committee, who are trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.
As the Charity trustee, we certify that:
- as far as we are aware, there is no relevant audit information of which the orgainsation accountants are unaware; and - as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity accountants are aware of that information.
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CORBY MUSLIM ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 April 2023
Independent Examiner
White Knight Accountancy Limited have expressed their willingness to act as the independent examiner for the Charity.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005).
Approved by the Trustees on 29 February 2024 and signed on the Management Committee's behalf by:
....................................................................
Ayna Chaudhury
Trustee
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CORBY MUSLIM ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 April 2023
INDEPENDENT EXAMINER'S REPORT
We report on the accounts for the year ended 30 April 2023 set out on pages 6 to 15.
Respective responsibilities of trustees and accountants
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 1993 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
White Knight Accountancy Limited 6 Crown Passage Uppingham, Oakham LE15 9NB Date: 29 February 2024
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CORBY MUSLIM ASSOCIATION
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 30 April 2023
RECEIPT AND PAYMENT
| Categories Receipts Donation and gifts Sub total(Gross income for AR) Total receipts Payments Depreciation Charge for the Year - Fixtures & Fittings Printing and stationery Accountants fees Legal/professional fees Wages and salaries Staff costs Travel and Subsistence Equipment expense Light and heat Cleaning of Premises General Insurance Rates & Water Sub total Asset and investment purchases Freehold Land & Buildings - Additions - Cost |
Unrestricted funds Restricted funds Endowment funds Total funds Last year 60,127.22 - - 60,127.22 45,863.00 60,127.22 - - 60,127.22 45,863.00 |
|---|---|
| 60,127.22 - - 60,127.22 45,863.00 |
|
| 288.34 - - 288.34 256.00 50.28 - - 50.28 27.00 - - - - 360.00 120.00 - - 120.00 - 11,181.00 - - 11,181.00 11,181.00 - - - - 120.00 - - - - 373.00 179.29 - - 179.29 54.00 3,438.18 - - 3,438.18 2,453.35 211.62 - - 211.62 - 911.13 - - 911.13 - 594.82 - - 594.82 - 16,974.66 - - 16,974.66 14,824.35 64,926.45 - - 64,926.45 62,066.94 |
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CORBY MUSLIM ASSOCIATION
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 30 April 2023
| Fixtures & Fittings - Additions - Cost Sub total Total Payments Net of receipts/(payments) Cash funds last year end Cash funds this year end |
447.08 - - 447.08 - 65,373.53 - - 65,373.53 62,066.94 |
|---|---|
| 82,348.19 - - 82,348.19 76,891.29 |
|
| (22,220.97) - - (22,220.97) (31,028.29) (31,028.29) - - (31,028.29) (53,249.26) - - (53,249.26) (31,028.29) |
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CORBY MUSLIM ASSOCIATION
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 30 April 2023
| Categories | Details | Unrestricted funds | Restricted income funds |
Endowment funds |
||
|---|---|---|---|---|---|---|
| Cash funds | ||||||
| NOTE 8 | Cash at bank and on hand |
110,115.04 | - | - | ||
| Total Cash Funds | 110,115.04 | - | - | |||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
|||
| Assets retained for the | ||||||
| charity’s own use | ||||||
| NOTE 7 | Tangible Fixed Assets |
347,592 | ||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
|||
| Liabilities | ||||||
| NOTE 10 | Bank loans and overdrafts |
14,000.00 |
The financial statements were approved by the Board on 29-Feb-2024 and signed on its behalf by:
Ayna Chaudhury Trustee
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
1 Accounting Policies
1.1 Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
1.2 Basis of preparation
These financial statements have been prepared under the historical cost convention and in the accordance with applicable accounting standards, the Companies Act 2006, the Charities Act 1993 and the Statement of Recommended Practice : Accounting and Reporting by Charities issued in March 2005.
1.3 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
1.4 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- Voluntary income received by the way of donations and gifts is included in full in the income and expenditure account when received.
1.5 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT and is reported as part of the expenditure in which it relates:
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Governance costs include those costs associated with attracting voluntary income and the costs of fundraising activities requirements of the charity.
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
1.6 Income
Voluntary income and donations are accounted for as received by the charity. No permanent endowments have been received in the period.
1.7 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:
Furniture, fittings & equipment 7 years straight line
1.8 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Trust has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Trust’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting when preparing the financial statements.
2 Income from Donations and Legacies
| Analysis Donation and gifts |
Unrestricted funds Restricted income funds Endowment funds Total funds 2023 Total funds 2022 £ £ £ £ £ 60,127.22 - - 60,127.22 45,863.00 60,127.22 - - 60,127.22 45,863.00 |
|---|---|
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
3 Expenditure on Raising Funds
| Analysis Support Costs |
Total funds 2023 Total funds 2022 £ £ 480.70 200.00 480.70 200.00 |
|---|---|
4 Expenditure on Charitable Activities
| Analysis Legal/professional fees Wages and salaries Staff costs Light and heat Cleaning of Premises Rates & Water Support Costs |
Total funds 2023 Total funds 2022 £ £ 120.00 - 11,181.00 11,181.00 - 120.00 3,438.18 2,453.35 211.62 - 594.82 - 480.70 560.00 16,026.32 14,314.35 |
|---|---|
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
5 Support Costs
| Analysis Printing and stationery Travel and Subsistence General Insurance Governance Costs Accountants fees |
Total funds 2023 Total funds 2022 £ £ 50.28 27.00 - 373.00 911.13 - - 360.00 961.41 760.00 |
|---|---|
6 Other Expenditure
| Analysis Depreciation Charge for the Year - Fixtures & Fittings Equipment expense |
Unrestricted funds Restricted income funds Endowment funds Total funds 2023 Total funds 2022 £ £ £ £ £ 288.34 - - 288.34 256.00 179.29 - - 179.29 54.00 467.63 - - 467.63 310.00 |
|---|---|
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
7 Tangible Fixed Assets
7.1 Cost or valuation
| At 01 May 2022 Additions Disposals Revaluations Transfers At 30 April 2023 |
Freehold Land & Buildings Fixtures & Fittings £ £ 281,483.94 3,878.00 64,926.45 447.08 - - - - - - 346,410.39 4,325.08 |
|---|---|
7.2 Amortisation and impairments
| At 01 May 2022 Additions Disposals Revaluations Transfers At 30 April 2023 |
Freehold Land & Buildings Fixtures & Fittings £ £ - 2,854.96 - 288.34 - - - - - - - 3,143.30 |
|---|---|
7.3 Net book value
| At 01 May 2022 At 30 April 2023 |
Freehold Land & Buildings Fixtures & Fittings £ £ 281,483.94 1,023.04 346,410.39 1,181.78 |
|---|---|
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
8 Cash at bank and in hand
| Cash at bank and on hand | Total funds 2023 Total funds 2022 £ £ 110,115.04 135,859.23 110,115.04 135,859.23 |
|---|---|
9 Creditors: Amounts falling due within one year
| Taxes payable Other creditors |
Total funds 2023 Total funds 2022 £ £ - 829.21 - 2,982.35 - 3,811.56 |
|---|---|
10 Creditors: Amounts falling due after one year
| Bank loans and overdrafts | Total funds 2023 Total funds 2022 £ £ 14,000.00 14,000.00 14,000.00 14,000.00 |
|---|---|
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
11 Charity funds
11.1 Details of material funds held and movements during the CURRENT reporting period
| Fund names Unrestricted funds Unrestricted Designated Funds Total |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ |
|---|---|
| 400,553 60,127.22 16,974.66 - 43,153 444,067 400,553 60,127.22 16,974.66 - 43,153 444,067 |
11.2 Details of material funds held and movements during the PREVIOUS reporting period
| Fund names Unrestricted funds Unrestricted Designated Funds |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ |
|---|---|
| 369,516 45,863 14,464 - 31,037 400,553 369,516 45,863 14,464 - 31,037 400,553 |
|
| Total |
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CORBY MUSLIM ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
Between unrestricted and restricted funds - Between endowment and restricted funds - Between endowment and unrestricted funds -
FOR THE YEAR ENDED 30 April 2023
11.3 Transfers between funds
This Year
Amount £
Between unrestricted and restricted funds - Between endowment and restricted funds - Between endowment and unrestricted funds -
Last Year
Amount £
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