| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 13 |
| Statement ofTrustees' Responsibihttes | 14 | ||
| Report ofthe Independent Auditors |
15 | to | 17 |
| Statement ofFinancial Activities | 18 | ||
| Statement ofFinancial Position | 19 | to | 20 |
| Statement ofCash Flows | 21 | ||
| Notes tothe Financial Statements | 22 | to | 33 |
| Detailed Statement ofFinancial Activities | 34 | to | 36 |
| Risks are assessed | according | according | according | to the potential | to the potential | to the potential | to the potential | impact on the | impact on the | impact on the | Charity and their likelihood ofoccurrence. Controls are | in |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| place, or are being | developed | and enhanced | to manage these risks. A complete strategic mview was carried out during |
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| the year that identified | key risks and opportunities | for the Charity and the new Strategic Plan is designed to mitigate |
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| these risks and exploit | the | oppoitunities. | ||||||||||
| The principal risks facing |
the Charity's | objectives are summarised below along with the main mitigating actions |
in | |||||||||
| place. | ||||||||||||
| Principal Risks | Risk Management | |||||||||||
| Raising Funds | ||||||||||||
| Serious economic |
downturn | that results | in | a | sustained | Diverse fundmising base with investment to grow |
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| reduction in cash and |
regular | donations. | (HIGH) | multiple channels. Strategy based on recruiting regular givers to improve sustainability ofincome. Significant |
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| investment and activity to chive legacy marketing. |
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| Reputation | ||||||||||||
| Theft of data. |
The | consequences | could | include | Data is stored, accessed, and transferred securely and |
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| reputational damage, |
inability | to | contact | in line with the requirements ofGDPR (General Data |
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| supporters/customers, | and | inability | to | process | direct | Protection Regulations 2018). |
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| debits. (HIGH) | ||||||||||||
| Financial Serious | ||||||||||||
| financial I'raud |
is | carried | out against |
the | charity. | Procurement procedures; dual payment authorisation; |
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| (MEDIUM) | rigorous bank detail change controls; strong internet banking security; CPD on cyber threats; segregation of |
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| duties; and regular reconciliations. | ||||||||||||
| Business Interruption | ||||||||||||
| Regional or national (human |
or animal) | disease | outbreak | Business Continuity Plans and Incident Management |
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| leads to extensive | closure | of | our site, | processes are well established and have been fully |
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| tested. Many staff are able to work from home as all |
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| systems are cloud-based or accessible remote |
| Statement ofFinancial Activities for the Year Ended 31March 2021 |
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|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | fimds | ||
| Notes | 8 | ||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 515&405 | 4,420 | 519,825 | 2,384,837 |
| Charitable activities |
|||||
| Mosque dt connnunity | 3,12l | ||||
| Eden project | 87&898 | 87,898 | 69,428 | ||
| Quran school | 12,262 | 12,262 | 47,131 | ||
| VCSInfi astmcture | 50,000 | 50,000 | 40,000 | ||
| Ramadhan project |
1,713 | 1,713 | 31,381 | ||
| Grants | 388,360 | 388,360 | |||
| Rental inconie | 326,678 | 326,67S | 247,475 | ||
| Profit on sale offixed assets | 136,609 | 136,609 | |||
| Total | 1,46&,925 | 54,420 | 1,523,345 | 2,823,373 | |
| EXPENDITURE ON | |||||
| Raising funds | 5 | 12,760 | 3,850 | 16&610 | 25,987 |
| Charitable activities |
|||||
| Mosque &cominunity | 955,718 | 955,718 | 766,014 | ||
| Quran school | i,530 | ||||
| VCS Infrastructure | 2,450 | 2,450 | 42,000 | ||
| Ramadhan project |
4,664 | 4,664 | 12,739 | ||
| Loss on sale offixed assets | 69,913 | ||||
| Other | 754 | 754 | 29,194 | ||
| Total | 973,896 | 6,300 | 980,196 | 947,377 | |
| NET INCOME | 495,029 | 48,120 | 543,149 | 1,875,996 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 13,951,968 | 669,125 | 14&621,093 | 12,745,097 | |
| TOTAL FUNDS CARRIED FORWARD | 14,446,997 | 717&245 | 15&164&242 | l4 621 093 |
| Statement ofFinancial Position 31March 2021 |
|||||
|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | f, | 5 | |||
| FIXEDASSETS | |||||
| Tangible assets Investment property |
14 15 |
12,711,021 490,000 |
12,711,021 490,000 |
12,523,387 490,000 |
|
| 13,201&021 | 13,201,021 | l3,013,387 | |||
| CURRENT ASSETS | |||||
| Debtors | 16 | 505,609 | 505,609 | 529,992 | |
| Cash at bank and in hand | 771,700 | 717,245 | 1,488,945 | 1,127,470 | |
| 1,277,309 | 717,245 | 1,994,554 | 1,657,462 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (31433) | (31,333) | (49,756) | |
| NET CURRENT ASSETS | 1&245&976 | 717&245 | 1&963221 | 1607 706 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 14&446,997 | 717&245 | 15&164&242 | 14&621&093 | |
| NET ASSETS | 14,446,997 | 717,245 | 15,164,242 | 14,621,093 | |
| FUNDS | 18 | ||||
| Unrestricted funds |
14&446&997 | 13,951,968 | |||
| Restricted funds | 717,245 | 669,125 | |||
| TOTALFUNDS | 15,164&242 | 14,621,093 |
| for the Year Ended 31 | M | arch 202 | 1 | |||
|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||||
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated from operations | 522,162 | 2,045,947 | ||||
| Net cash provided by operating activities |
522,162 | 2,045,947 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed | assets | (779,233) | (2,208,485) | |||
| Sale oftangible fixed assets | 618,546 | 248,466 | ||||
| Net cash used in investing | activities | (160,687} | (1,960,019) | |||
| Change in cash and cash | equivalents | in | ||||
| the reporting period | 361,475 | 85,928 | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | 1,127,470 | 1,041,542 | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period | 1,488,945 | 1,127,470 |
| Freehold | property | 2%on building cost |
|---|---|---|
| Long leasehold | 2%on cost | |
| Fixtures | and fittings | 20%on cost |
| Computer | equipment | 20%on cost |
| 2. | DONATIONS | AND LEGACIES | AND LEGACIES | |||
|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||||
| Donations from | MWH Trust | 5,129 | 16,500 | |||
| Donations | 514,696 | 2,368,337 | ||||
| 519,$25 | 2,384,837 | |||||
| 3. | RENTAL INCOME | |||||
| SL3.21 | 31.3,20 | |||||
| Rents receivabie | 266,678 | 247,475 | ||||
| Rosemary Income | 60%000 | |||||
| 326,678 | 247,475 | |||||
| INCOME FROM CHARITABLE ACTIVITIES | ||||||
| 31.3.21 | 31.3.20 | |||||
| Activity | ||||||
| Baser Income | Mosque tk | community | 1,057 | |||
| Income from trips | Mosque k, | community | 2,064 | |||
| Eden income | Eden project | 87,898 | 69,428 | |||
| Tajwid Income | Quran school | 3,165 | 14,910 | |||
| Arabic School | Quran school | 2,150 | 12,415 | |||
| Quran School | Quran school | 6,947 | 18,910 | |||
| Books sale | Quxan school | 896 | ||||
| VCF Grant | VCS Infrastructure | 50)000 | 40,000 | |||
| Ramadhan Sponsorship |
Ramadhan | project | 1,713 | 31,381 | ||
| Grants | Grants | 388860 | ||||
| 540,233 | 191,061 | |||||
| Grants received, | included | in the above, are | as follows; | |||
| 31.3.21 | 31.3.20 | |||||
| HMRC JRSGrants | 142,233 | |||||
| HMRC Council | Grants | 35,000 | ||||
| Other Charitable | Covid Grants | 211,127 | ||||
| 388,360 |
| RAISINC FUNDS | RAISINC FUNDS | ||||||
|---|---|---|---|---|---|---|---|
| Raising donations | and | legacies | |||||
| 31.3.21 | 31.3.20 | ||||||
| f, | |||||||
| Just giving | expense | 216 | 216 | ||||
| Zakstul Fitry | 3,850 | 3,900 | |||||
| 4,066 | 4,i16 | ||||||
| Investnrent | management | costs | |||||
| 31.3.21 | 31.3.20 | ||||||
| 8 | |||||||
| Council Tax&Service Charges | 6,816 | 18,900 | |||||
| Property manage)neat | 5,728 | 2,971 | |||||
| 12)544 | 21,87i | ||||||
| Aggregate | amounts | 16,610 | 25,987 | ||||
| CHARITAIILE ACTIVITIES COSTS | |||||||
| Cn'ant | |||||||
| funding of | |||||||
| activities | Support | ||||||
| Direct | (seenote | costs (see | |||||
| Costs | 7) | note 8) | Totals | ||||
| Mosque & | conunuuity | 758,476 | 11,979 | 185,263 | 955,718 | ||
| VCS Infrasnucture | 2,450 | 2,450 | |||||
| Ramadhau | project | 4,664 | 4,664 | ||||
| 765,590 | 11,979 | 185,263 | 962)832 |
| 7. | GRANTS PAYABLE | |||||||
|---|---|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||||||
| Mosque &tb community |
11,979 | |||||||
| 8. | SUPPORT COSTS | |||||||
| Governance | ||||||||
| Management | Finance | costs | Totals | |||||
| f, | ||||||||
| Mosque dr community | 165,951 | 1,762 | 17&550 | 185,263 | ||||
| 9. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) | is | stated after charging/(crediting): | ||||||
| 31.3.21 | 31.3.20 | |||||||
| Depreciation - owned assets | 109,662 | 100,208 | ||||||
| Other operating leases | 12,331 | |||||||
| Surplus/(deficit) on disposal |
offixed | assets | (136,609) | 69,913 | ||||
| 10. | AUDITORS' REMUNERATION | |||||||
| 31.3.21 | 31.3.20 | |||||||
| g | ||||||||
| Fees payable to the charity's | auditors | and their | associates for the | audit of | ||||
| thechsrity's financial statements |
3,500 | 3,500 | ||||||
| Auditors' remuneration |
for non audit | work | 3,400 | 3,400 |
| 31.3.21 | 31.3.20 | ||
|---|---|---|---|
| Wages | and salaries | 382,893 | 382,079 |
| Social | security costs | 17,609 | 19,722 |
| Other | pension costs | 2,525 | 1,918 |
| 403,027 | 403,719 |
| The aver | age | monthly |
nu | mber ofemployees during tbe year was |
as follows: | |
|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||||
| Engaged | on | charitable | activities | 27 | 32 | |
| Engaged | on | management | and administration | 8 | 8 | |
| 35 | 40 |
| 13. | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | fund | funds | ||
| 6 | f. | |||
| INCOME AND ENDOWMENTS FROM Donations and legacies |
294,910 | 2,089,927 | 2,384,837 | |
| Charitable activities |
||||
| Mosque &community Eden project Quran school VCS Infrastructure Ramadban project |
3,121 69,428 47,131 31,381 |
40,000 | 3,121 69,428 47,131 40,000 31,381 |
|
| Rental income | 247,475 | 247,475 | ||
| Total | 693,446 | 2,129,927 | 2,823,373 | |
| EXPKNDITURKON Raising funds |
22,087 | 3,900 | 25,987 | |
| Charitable activities Mosque &couununity Quran school VCS Infrastructure Ramsdhan project Loss on sale offixed assets |
765,267 1,530 12,739 69,913 |
747 42,000 |
766,014 1,530 42,000 12,739 69,913 |
|
| Other | 29,194 | 29,194 | ||
| Total | 900,730 | 46,647 | 947,377 | |
| NKT INCOME/(EXPENDITURE) | (207,284) | 2,083,280 | 1,875,996 | |
| Transfers between funds | 2,085,280 | (2,085,280) | ||
| Net movement in funds |
1,877,996 | (2,000) | 1,875,996 | |
| RECONCILIATION OF FUNDS |
||||
| Total funds brought forward | 12,073,972 | 671,125 | 12,745,097 | |
| TOTAL FUNDS CARRIED FORWARD | 13,951,968 | 669,125 | 14,621,093 |
| The investment properties are stated at their fair value determined |
by nustees. | |
|---|---|---|
| DEBTORS | ||
| 31.3,21 f |
31.3.20 | |
| Amounts falling due within one year: |
||
| Trade debtom | 24&039 | 57,818 |
| Other debtors | 289,366 | 285,545 |
| P repayments | 14,204 | 8,629 |
| 327&609 | 351,992 | |
| Amounts falling due after more than one year: |
||
| Other debtors | 178,000 | 178,000 |
| Aggregate amounts |
505,609 | 529,992 |
| CREDITORS | : AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||
| Trade creditors | 10,345 | 12,002 | ||
| Social security | and other taxes | 2,658 | 7,644 | |
| Pensions fund | 779 | |||
| Other creditors | 9,540 | 9,540 | ||
| Accrued expenses | 8)790 | 19,791 | ||
| 31)333 | 49,756 | |||
| MOVEMENT | IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At I/4/20 | in funds | 31/3/21 | ||
| Unrestricted funds |
||||
| General fund | 13)t19,445 | 495,029 | 14,414,474 | |
| Revaluation rese)ve |
32,523 | 32,523 | ||
| 13)151)968 | 495,029 | 14)446)997 | ||
| Restricted funds | ||||
| Restricted fund | 669,125 | 48,120 | 717,245 | |
| TOTAL FUNDS | 14,621,093 | 543,149 | 15,164,242 | |
| Net movement | in funds, included in tbe above are as follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| Unrestricted funds |
||||
| General fund | 1,468)925 | (973,896) | 495,029 | |
| Restricted funds | ||||
| Restricted fund | 54,420 | (6,300) | 48,120 | |
| TOTAL FUNDS | 1,523,345 | (980,196) | 543,149 |
| Net | Transfers | |||||
|---|---|---|---|---|---|---|
| movement | between | At | ||||
| At 1/4/19 | in funds | funds | 31/3/20 | |||
| f | ||||||
| Unrestricted | funds | |||||
| General fund | 12,041,449 | (207,284) | 2,085,280 | 13,919,445 | ||
| Revaluation | reserve | 32,523 | 32,523 | |||
| 12,073,972 | (207,284) | 2,085,280 | 13,951,968 | |||
| Restricted funds | ||||||
| Restricted fund | 671,125 | 2,083380 | (2,085,280) | 669,125 | ||
| TOTAL FUNDS | 12,745,097 | 1,875,996 | 14,621,093 | |||
| Comparative | net movement | in funds, included | in the above are as follows: | |||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| 6 | ||||||
| Unrestricted | funds | |||||
| General fund |
693,446 | (900,730) | (207,284) | |||
| Restricted funds | ||||||
| Restricted fund | 2,129,927 | (46,647) | 2,083,280 | |||
| TOTAL FUNDS | 2,823,373 | (947,377) | 1,875,996 |
| RECONCILIATION OFNET INCOME TONET CASH FLOW FR |
OM OPERATING | C~8 |
|---|---|---|
| 31.3.21 | 31.3.20 | |
| Net income for the reporting period (asper the Statement of Financial Activities) |
543,149 | 1,875,996 |
| Adjustments for; |
||
| Depreciation charges |
109,662 | i00,208 |
| (Profit)/loss on disposal offixed assets |
(136,609) | 69,913 |
| Decrease/(increase) in debtors |
24&383 | (25,173) |
| (Decrease)/increase in creditors |
(18,423) | 25 003 |
| Netcashprovidedby operations | 522,162 | 2,045,947 |
| for the Year End | ed 31March 2021 | ||
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies |
|||
| Donations &om MWH Trust | 5,129 | 16,500 | |
| Donations | 514,696 | 2,368,337 | |
| 519,825 | 2,384,837 | ||
| Rental income | |||
| Rents receivable | 266)678 | 247,475 | |
| Rosemary Income | 60,000 | ||
| 326,678 | 247,475 | ||
| Charitable acth ities |
|||
| Grants | 388,360 | ||
| VCF Grant | 50,000 | 40,000 | |
| Tajwid Income | 3,165 | 14,910 | |
| Arabic School | 2,150 | 12,415 | |
| @aran School | 6,947 | 18,910 | |
| Rsmadhan Sponsorship |
1)713 | 31,381 | |
| Eden income | 87,898 | 69,428 | |
| Books sale | 896 | ||
| Bazar Income | 1,057 | ||
| Income from trips | 2,064 | ||
| 540)233 | 191,061 | ||
| Profit on sale offixed assets | |||
| Gain on sale oftangible fixed assets | 136,609 | ||
| Total incoming resources | 1,523,345 | 2,823,373 | |
| EXPENDITURE | |||
| Raising donations | and legacies | ||
| Just giving expense | 216 | 216 | |
| Zakatui Piiry | 3,850 | 3,900 | |
| 4,066 | 4,116 |