Registered number 08071263 ## MUSLIMS FUNERAL SERVICES LTD ## Report and Financial Statements 31 May 2023 ## **MUSLIMS FUNERAL SERVICES LTD Report and accounts Contents** ||**Page**| |---|---| |Company information|1| |Directors & Trustees|2| |Governing Document|3| |Directors' Report|4| |Independent Examiner Report|5| |Profit and loss account|6| |Balance sheet|7| |Notes to the accounts|8| |Detailed Profit and loss account 1|9| ## **MUSLIMS FUNERAL SERVICES LTD Company Information** ## **Directors** Mr. Inamullah Tariq Mr. KaleemUllah Tariq Mr. Mohammad Tariq Mr. Mudassar Ahmed Mrs. Sadia Amran ## **Secretary** Mohammad TARIQ ## **Accountants** Taxaccolega Chartered Accountants 187A London Road Croydon London Surrey CR0 2RJ ## **Registered office** 73 Mitcham Lane London England SW16 6LY ## **Registered number** 08071263 1 ## **DIRECTORS AND TRUSTEES** The directors of the charitable company are also its trustees for the purpose of charity. The trustees present their annual report for the period from 01 June 2022 to 31 May 2023 and confirm they comply with the Charities act 1993, as amended by the Charities Act 2006, the trust deed and the Charities SORP 2015. The Trustees who served during the period and since the end of the financial period were: **Mr. Inamullah Tariq Mr. Kaleemullah Tariq Mr. Mohammad Tariq Mr. Mudassar Ahmed Mrs. Sadia Amran** ## **REGISTERED OFFICE** 73 Mitcham Lane, London, England, SW16 6LY ## **PRINCIPAL ADMINISTRATOR** Mr. Mohammad Tariq ## **ACCOUNTANTS** Taxaccolega Ltd Chartered Accountants 187A London Road Croydon CR0 2RJ ## **INDEPENDENT EXAMINER** Waqas Sagar FCCA, ACA 2 **MUSLIMS FUNERAL SERVICES LTD Registered number:** 08071263 **Directors' Report** The directors present their report and financial statements for the year ended 31 May 2023. ## **Principal activities** The company's principal activity during the year continued to be ... ## **Directors** The following persons served as directors during the year: Mr. Inamullah Tariq Mr. KaleemUllah Tariq Mr. Mohammad Tariq Mr. Mudassar Ahmed Mrs. Sadia Amran ## **Disclosure of information to auditors** Each person who was a director at the time this report was approved confirms that: - so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and - he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. This report was approved by the board on 26 September 2023 and signed by its order. Inamullah TARIQ Mohammad TARIQ Secretary 3 **MUSLIMS FUNERAL SERVICES LTD FOR THE YEAR ENDED 31 MAY 2023 INDEPENDENT EXAMINER REPORT** Accotax Chartered Accountants was appointed as the charitable company's independent examiner during the year and has expressed willingness to continue in that capacity. We report on the accounts for the period from 1[st] June 2022 to 31[st] May 2023. ## **Respective responsibilities of trustees and reporting accountants:** The trustees (who are also the directors of the company for the purposes of company law) 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 needed. Having satisfied ourselves that the charity is not subject to audit under company law and is eligible for independent examination, it is our responsibility to: - examine the accounts under section 43 of the 1993 Act; - 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 - to state whether particular matters have come to our attention. ## **Basis of Independent examiner’s report:** Our 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 statement below. ## **Independent examiner’s statement:** In connection with our examination, no major matter has come to our attention: - Which gives us reasonable cause to believe that any material respect the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of the section 396 of the Companies Act 2006 and the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met ; or - To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **Mr. Waqas Sagar ACA, FCCA Accotax Accountants & Tax Consultants** 12 London Road Morden SM4 5BQ ## **Date: 02/10/2023** 4 ## **MUSLIMS FUNERAL SERVICES LTD Income Statement for the year ended 31 May 2023** |**Notes**
**Donations**
2
Cost of sales
**Gross profit/(loss)**
Administrative expenses
Other operating income
**Operating profit/(loss)**
3
**Profit/(loss) on ordinary activities before taxation**
Tax on profit/(loss) on ordinary activities
5
**Profit/(loss) for the financial year**|**2023**
**£**
870,523
(797,217)
73,306
(86,400)
14,135
1,041
1,041
-
1,041|**2022**
**£**
530,018
(547,653)
(17,635)
(53,571)
33,473
(37,733)
(37,733)
-
(37,733)| |---|---|---| 5 ## **MUSLIMS FUNERAL SERVICES LTD Statement of Financial Position as at 31 May 2023** |**Notes**
**Fixed assets**
Tangible assets
6
**Current assets**
Debtors
7
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
8
**Net current assets**
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
9
**Net assets**
**Capital and reserves**
Profit and loss account
10
**Total equity**|**2023**
**£**
4,798
49,006
52,262
101,268
(2,041)
99,227
104,025
-
104,025
104,025
104,025|**2022**
**£**
16,104
62,260
50,710
112,970
(12,117)
100,853
116,957
(13,973)
102,984
102,984
102,984| |---|---|---| Inamullah TARIQ Director Approved by the board on 26 September 2023 6 **MUSLIMS FUNERAL SERVICES LTD Notes to the Accounts for the year ended 31 May 2023** ## **1 Summary of significant accounting policies** ## _**Basis of preparation**_ The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. ## _**Turnover**_ Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. ## _**Intangible fixed assets**_ Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. ## _**Tangible fixed assets**_ Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years ## _**Investment property**_ Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss. ## _**Investments**_ Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. ## _**Stocks**_ Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. ## _**Debtors**_ 7 ## **MUSLIMS FUNERAL SERVICES LTD Notes to the Accounts for the year ended 31 May 2023** Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. ## _**Creditors**_ Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. ## _**Taxation**_ A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. ## _**Provisions**_ Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. ## _**Foreign currency translation**_ Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. ## _**Leased assets**_ A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. 8 ## **MUSLIMS FUNERAL SERVICES LTD Notes to the Accounts for the year ended 31 May 2023** ## _**Pensions**_ Contributions to defined contribution plans are expensed in the period to which they relate. |**2**|**Analysis of turnover**|**2023**|**2022**| |---|---|---|---| |||**£**|**£**| ||Sale of goods|870,523|530,018| ||By geographical market:||| ||UK|870,523|530,018| |**3**|**Operating profit**|**2023**|**2022**| ||This is stated after charging:|**£**|**£**| ||Depreciation of owned fixed assets|11,306|16,955| |**4**|**Staff costs**|**2023**|**2022**| ||Wages and salaries|**£**
-|**£**
-| ||Social security costs|-|-| ||Other pension costs|-|-| |||-|-| ||**Average number of employees during the year**|**Number**|**Number**| |||-|-| |**5**|**Taxation**|**2023**|**2022**| ||**Analysis of charge in period**|**£**|**£**| ||Tax on profit on ordinary activities|-|-| ||**Factors affecting tax charge for period**||| ||The differences between the tax assessed for the period and the standard rate of||corporation tax| ||are explained as follows:||| ||Profit/(loss) on ordinary activities before tax|**2023**
**£**
1,041|**2022**
**£**
(37,733)| 9 ## **MUSLIMS FUNERAL SERVICES LTD** ## **Notes to the Accounts** ## **for the year ended 31 May 2023** |Standard rate of corporation tax in the UK
Effects of:
Expenses not deductible for tax purposes
Current tax charge for period
**Factors that may affect future tax charges**
Profit on ordinary activities multiplied by the standard rate of
corporation tax|20%
**£**
208
(208)
-|20%
**£**
(7,547)
7,547
-| |---|---|---| ## **6 Tangible fixed assets** |**Fixture &**
**Fittings**
_At cost_
**£**
**Cost or valuation**
At 1 June 2022
6,087
At 31 May 2023
6,087
**Depreciation**
At 1 June 2022
5,395
Charge for the year
692
At 31 May 2023
6,087
**Carrying amount**
At 31 May 2023
-
At 31 May 2022
692
**7**
**Debtors**
Trade debtors
Other debtors
**8**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors|**P&M and**
**Computer &**
**IT**
_At cost_
**£**
17,795
17,795
16,176
1,620
17,796
(1)
1,619|**Motor**
**vehicles**
_At cost_
**£**
44,970
44,970
31,177
8,994
40,171
4,799
13,793
**2023**
**£**
9,620
39,386
49,006
**2023**
**£**
-
2,041|**Total**
**£**
68,852
68,852
52,748
11,306
64,054
4,798
16,104
**2022**
**£**
9,620
52,640
62,260
**2022**
**£**
10,106
2,011| |---|---|---|---| 10 ## **MUSLIMS FUNERAL SERVICES LTD Notes to the Accounts for the year ended 31 May 2023** |**9**
**Creditors: amounts falling due after one year**
Other creditors
**10 Profit and loss account**
At 1 June
Profit/(loss) for the financial year
At 31 May|2,041
**2023**
**£**
-
**2023**
**£**
102,984
1,041
104,025|12,117
**2022**
**£**
13,973
**2022**
**£**
140,717
(37,733)
102,984| |---|---|---| ## **11 Presentation currency** The financial statements are presented in Sterling. ## **12 Legal form of entity and country of incorporation** MUSLIMS FUNERAL SERVICES LTD is a private company limited by shares and incorporated in England. ## **13 Principal place of business** The address of the company's principal place of business and registered office is: 73 Mitcham Lane London England SW16 6LY ## **14 Reconciliations on adoption of FRS 102** |**Profit and loss for the year ended 31 May 2022**
Loss under former UK GAAP
Loss under FRS 102
**Balance sheet at 31 May 2022**
Equity under former UK GAAP|**£**
(37,733)
(37,733)
**£**
102,984| |---|---| 11 ## **MUSLIMS FUNERAL SERVICES LTD Notes to the Accounts for the year ended 31 May 2023** |Equity under FRS 102
**Balance sheet at 1 June 2021**
Equity under former UK GAAP
Equity under FRS 102|102,984
**£**
-
-| |---|---| 12 ## **MUSLIMS FUNERAL SERVICES LTD** ## **Detailed profit and loss account for the year ended 31 May 2023** _This schedule does not form part of the statutory accounts_ |**Donations**
Cost of sales
**Gross profit/(loss)**
Administrative expenses
Other operating income
**Operating profit/(loss)**
**Profit/(loss) before tax**|**2023**
**£**
870,523
(797,217)
73,306
(86,400)
14,135
1,041
1,041|**2022**
**£**
530,018
(547,653)
(17,635)
(53,571)
33,473
(37,733)
(37,733)| |---|---|---| 13 ## **MUSLIMS FUNERAL SERVICES LTD** ## **Detailed profit and loss account for the year ended 31 May 2023** _This schedule does not form part of the statutory accounts_ |**Sales**
Donations
**Cost of sales**
Subcontractor costs
Carriage
Other direct costs
**Administrative expenses**
Employee costs:
Staff training and welfare
Travel and subsistence
Motor expenses
Premises costs:
Rent
Light and heat
General administrative expenses:
Telephone and internet
Stationery and printing
Bank charges
Insurance
Equipment expensed
Software
Repairs and maintenance
Depreciation
Legal and professional costs:
Accountancy fees
Advertising and PR
**Other operating income**
Other operating income|**2023**
**£**
870,523
31,200
59,608
706,409
797,217
4,387
2,547
22,223
29,157
21,040
7,900
28,940
2,617
287
801
241
5,441
150
3,570
11,305
24,412
1,920
1,971
3,891
86,400
14,135|**2022**
**£**
530,018
26,924
42,371
478,358
547,653
5,000
3,397
10,132
18,529
-
4,675
4,675
1,074
24
838
106
4,641
-
4,809
16,955
28,447
1,920
-
1,920
53,571
33,473| |---|---|---| 14