DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
**Registered number: 08576827 Charity number: 1152922**
## **GARDENS OF PEACE MUSLIM CEMETERY**
## **(A company limited by guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustee Directors and advisers**|1|
|**Trustee Directors' report**|2 - 5|
|**Independent auditor's report on the financial statements**|6 - 9|
|**Statement of financial activities**|10|
|**Balance sheet**|11 - 12|
|**Statement of cash flows**|13|
|**Notes to the financial statements**|14 - 30|
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE DIRECTORS AND ADVISERS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **TRUSTEE DIRECTORS**
Farouk Gulammohamed Ismail, Trustee Director Maqbul Hussain Mubeen, Trustee Director Gulam Ismail Nadat, Trustee Director Mehboob Ibrahim Patel, Trustee Director
## **COMPANY REGISTERED NUMBER**
08576827
## **CHARITY REGISTERED NUMBER**
1152922
## **REGISTERED OFFICE**
77 Vaughan Gardens, Ilford, Essex, IG1 3PB
## **PRINCIPAL OPERATING OFFICE**
Elmbridge Road, Ilford, IG6 3SW
## **INDEPENDENT AUDITOR**
Clay Ratnage Strevens & Hills, Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN
## **BANKERS**
HSBC Bank Plc, 126 High Road, Ilford, Essex, IG1 1DA
Al Rayan Bank Plc, 44 Hans Cres, Knightsbridge, London, SW1X 0LZ
Lloyds Bank Plc, 39 Threadneedle Street, London, EC2R 8AU
## **TREASURER**
Yunus Mohamed Jasat
Page 1
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **TRUSTEE DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustee Directors, who are also the directors of the charity for the purpose of the Companies Act, present their annual report together with the audited financial statements of the charity for the 1 January 2020 to 31 December 2020. The Annual report serves the purposes of both a Trustee Directors' report and a directors' report under company law. The Trustee Directors confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 383, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **OBJECTIVES AND ACTIVITIES**
## **A. POLICIES AND OBJECTIVES**
The objectives of the charity are to maintain land for the purpose of the burial of Muslims and to act on behalf of the Muslim community to meet their needs as regards the procedures and practices relating to the interment of the deceased.
In setting objectives and planning for activities, the Trustee Directors have given due consideration to general guidance published by the Charity Commission relating to public benefit.
## **B. STRATEGIES FOR ACHIEVING OBJECTIVES**
The charity owns for the above purpose: + the freehold interest of approximately 21.5 acres of land situated at Elmbridge Road, Hainault,
+ the freehold interest in 12.5 acres of land at 1-2 Five Oaks Lane, five minutes drive from Elmbridge Road, which became operational in 2017, plus some further land purchased adjacent to the site during 2019,
+ the freehold interest in almost 30 acres of land at Maylands Field which is situated approximately twenty minutes drive from Elmbridge Road.
## **C. ACTIVITIES UNDERTAKEN TO ACHIEVE OBJECTIVES**
The cemetery continued with its work of providing burial and funeral services to the Muslim community during the year at its Elmbridge Road and Five Oaks Lane sites.
The additional land purchased in 2019 at Five Oaks was developed during the year and is now operational. Major works at the Maylands site relating to the construction of buildings, landscaping, burial areas and roads for vehicular access are in progress. It is envisaged that the total expenditure on Maylands will be in the range of £5m before it becomes a fully operational cemetery.
## **D. SOCIAL INVESTMENT POLICIES**
The charity lets six residential flats. The rental income from these flats will be used to help fund the charity's activities.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**TRUSTEE DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **ACHIEVEMENTS AND PERFORMANCE**
## **A. FUNDRAISING ACTIVITIES AND INCOME GENERATION**
In addition to its income from burial fees, the charity continued during the year to receive donations, which it used to help fund its activities. The details of income and expenditure are shown in the attached Statement of Financial Activities.
## **FINANCIAL REVIEW**
## **A. GOING CONCERN**
After making appropriate enquiries, the Trustee Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **B. RESERVES POLICY**
The Trustee Directors consider the maintenance of reserves to fund the future maintenance of the cemetery, including in particular the graves, to be of paramount importance and therefore a key priority. The accounts include provisions for future grave maintenance which totals £15,135,576 _(2019 - £13,268,400)_ at the year end.
In addition, as circumstances permit, the Trustee Directors intend to build a portfolio of investments to provide income for the upkeep and maintenance of the cemetery including the graves.
Burial fees are reviewed regularly to ensure that adequate funds can be retained by the charity for future upkeep and maintenance.
Unrestricted reserves at the year end total £10,178,986 _(2019 - £7,558,668)_ , and there were no restricted reserves at the year end _(2019 - £Nil)_ .
## **C. PRINCIPAL RISKS AND UNCERTAINTIES**
The Trustee Directors have assessed the major risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The Trustee Directors have assessed the risks and uncertainties relating to the Coronavirus and the challenges that the fast-moving guidance represents and have put in plans to mitigate these risks with safety as a priority.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **A. CONSTITUTION**
Gardens of Peace Muslim Cemetery is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
## **B. METHODS OF APPOINTMENT OR ELECTION OF TRUSTEE DIRECTORS**
The management of the charity is the responsibility of the Trustee Directors who are elected and co-opted under the terms of the Memorandum of Association.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**TRUSTEE DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)**
## **C. ORGANISATIONAL STRUCTURE AND DECISION-MAKING POLICIES**
The charity was incorporated as a company limited by guarantee in 2013 and, with effect from 1 January 2014, had transferred to it the assets of Gardens of Peace Muslim Cemetery Trust, a charity formed as a trust. The company is governed by a memorandum and articles of association. In addition a novation agreement was entered into between the Trust and the company under which the company assumed the liabilities of the Trust with effect from the same date.
The purpose behind the above change was only to change the legal basis of the charity from a Trust to a company limited by guarantee as the Trustee Directors believe the latter to be a more appropriate form of constitution.
Trustees' Meetings are held regularly. There is regular email and phone contact with the cemetery manager and the staff depending on needs.
## **D. FINANCIAL RISK MANAGEMENT**
The Trustee Directors have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **MEMBERS' LIABILITY**
The Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up.
## **STATEMENT OF TRUSTEE DIRECTORS' RESPONSIBILITIES**
The Trustee Directors (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustee Directors' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustee Directors to prepare financial statements for each financial . Under company law, the Trustee Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee Directors are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustee Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**TRUSTEE DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **DISCLOSURE OF INFORMATION TO AUDITOR**
Each of the persons who are Trustee Directors at the time when this Trustee Directors' report is approved has confirmed that:
- so far as that Trustee Director is aware, there is no relevant audit information of which the charitable company's auditor is unaware, and
- that Trustee Director has taken all the steps that ought to have been taken as a Trustee Director in order to be aware of any relevant audit information and to establish that the Charitable company's auditor is aware of that information.
## **AUDITOR**
The auditors, Clay Ratnage Strevens & Hills, has indicated its willingness to continue in office. The Designated Trustee Directors will propose a motion re-appointing the auditor at a meeting of the Trustee Directors.
Approved by order of the members of the board of Trustee Directors on 29 October 2021 and signed on their behalf by:
**Farouk Gulammohamed Ismail** Trustee Director
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GARDENS OF PEACE MUSLIM CEMETERY**
## **OPINION**
We have audited the financial statements of Gardens of Peace Muslim Cemetery (the 'charitable company') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **BASIS FOR OPINION**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **CONCLUSIONS RELATING TO GOING CONCERN**
In auditing the financial statements, we have concluded that the Trustee Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustee Directors with respect to going concern are described in the relevant sections of this report.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GARDENS OF PEACE MUSLIM CEMETERY (CONTINUED)**
## **OTHER INFORMATION**
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustee Directors are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustee Directors' report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Trustee Directors' responsibilities statement, the Trustee Directors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustee Directors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee Directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GARDENS OF PEACE MUSLIM CEMETERY (CONTINUED)**
## **AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:
- Obtaining an understanding of the legal and regulatory frameworks applicable to the charitable company and the sector in which they operate.
- Obtained an understanding of how the charitable company are complying with those legal and regulatory frameworks by making enquiries to management of the company’s accounting department, and management itself.
- The susceptibility of the charitable company’s financial statements to material misstatement caused by fraud or other irregularities were assessed with the following procedures:
- Identifying and assessing the design effectiveness of controls which management have in place to prevent and detect fraud
- Understanding how those charged with governance considered and addressed the potential for override of controls and management biases
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations
- Assessing the extent of compliance with the relevant laws and regulations
- Assessing the extent to which pressures existed which may have increased the risk of fraudulent revenue recognition
Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team.
The inherent limitations of audit present an unavoidable risk that we, the auditors, may not have detected some material misstatements within the financial statements despite proper planning and performance of our duties as auditors. Equally, there remains a risk of the non-detection of fraud which could involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. The audit procedures carried out are designed to detect material misstatements within the financial statements, and as such we take no responsibility for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GARDENS OF PEACE MUSLIM CEMETERY (CONTINUED)**
## **USE OF OUR REPORT**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **CLAY RATNAGE STREVENS & HILLS**
Statutory Auditors
Suite D
The Business Centre
Faringdon Avenue
Romford
Essex
RM3 8EN
29 October 2021
Clay Ratnage Strevens & Hills are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
Investments
6
Other income
7
**Total income**
**Expenditure on:**
Investment management
8
Charitable activities:
9
Burial and funeral services
Governance cost
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**95,496**
**5,875,402**
**95,466**
**-**
**6,066,364**
**10,044**
**3,253,604**
**182,398**
**3,446,046**
**2,620,318**
**7,558,668**
**2,620,318**
**10,178,986**|**Restricted**
**funds**
**2020**
**£**
**4,540**
**-**
**-**
**-**
**4,540**
**-**
**4,540**
**-**
**4,540**
**-**
**-**
**-**
**-**|**Total**
**funds**
**2020**
**£**
**100,036**
**5,875,402**
**95,466**
**-**
**6,070,904**
**10,044**
**3,258,144**
**182,398**
**3,450,586**
**2,620,318**
**7,558,668**
**2,620,318**
**10,178,986**|_Total_
_funds_
_2019_
_£_
_116,450_
_3,291,114_
_73,083_
_1,400_|
|---|---|---|---|---|
|||||_3,482,047_|
|||||_11,840_
_3,176,231_
_153,731_|
|||||_3,341,802_|
||||||
|||||_140,245_|
|||||_7,418,423_
_140,245_|
|||||_7,558,668_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 30 form part of these financial statements.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY (A company limited by guarantee) REGISTERED NUMBER: 08576827**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Tangible assets
14
Investments
16
Investment property
15
**Current assets**
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within one year
18
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more than
one year
19
Provisions for liabilities
20
**Total net assets**
**Charity funds**
Restricted funds
21
Unrestricted funds
21
**Total funds**|**390,248**
**10,889,551**
**11,279,799**
**(502,357)**|**2020**
**£**
**12,828,792**
**1**
**2,039,523**
**14,868,316**
**10,777,442**
**25,645,758**
**(331,196)**
**(15,135,576)**
**10,178,986**
**-**
**10,178,986**
**10,178,986**|_513,678_
_6,818,611_
_7,332,289_
_(397,801)_|_2019_
_£_
_12,068,440_
_1_
_2,039,523_
_14,107,964_
_6,934,488_
_21,042,452_
_(215,384)_
_(13,268,400)_
_7,558,668_
_-_
_7,558,668_
_7,558,668_|
|---|---|---|---|---|
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
The Trustee Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee) REGISTERED NUMBER: 08576827**
**BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020**
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustee Directors on 29 October 2021 and signed on their behalf by:
## **Farouk Gulammohamed Ismail**
Trustee Director
The notes on pages 14 to 30 form part of these financial statements.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
## **(A company limited by guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Cash flows from operating activities**
Net cash generated in operating activities
24
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
25|**2020**
**£**
**4,795,795**
**95,466**
**(820,321)**
**(724,855)**
**4,070,940**
**6,818,611**
**10,889,551**|_2019_
_£_
_2,309,389_
_74,483_
_(732,187)_
**(657,704)**
**1,651,685**
_5,166,926_
_6,818,611_|
|---|---|---|
The notes on pages 14 to 30 form part of these financial statements
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. GENERAL INFORMATION**
The charity is a private company limited by guarantee and was incorporated in England and Wales. The members of the company are Trustee Directors named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to a sum not exceeding £10 per member of the charity. The charity's registered office is 77 Vaughan Gardens, Ilford, Essex, IG1 3PB. The nature of the charity's operations and principal activities are to maintain land for the purpose of burial of Muslims and to act on behalf of the Muslim community to meet their needs as regards the procedures and practices relating to the interment of the deceased.
## **2. ACCOUNTING POLICIES**
## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Gardens of Peace Muslim Cemetery meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 GOING CONCERN**
There are no material uncertainties about the charity's abilty to continue.
## **2.3 INCOME**
Burial fees are recorded as income for the period in which they fall due based on the date of burial. Investment income is allocated to the appropriate fund.
Donations are shown as income in the period in which they are received.
Monies received as advanced payments for burial fees are taken to creditors in the balance sheet and will be taken to revenue funds as and when the burial takes place, to offset against the costs incurred relating to the burial.
## **2.4 EXPENDITURE**
Resources expended are recognised in the period in which they are incurred.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 TAXATION**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition are included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives .
Depreciation is provided on the following bases:
- Freehold land and buildings Not depreciated - Plant and machinery Straight line over the assets' estimated useful life
## **2.7 INVESTMENTS**
Investments in subsidiaries are valued at cost less provision for impairment.
## **2.8 INVESTMENT PROPERTY**
Investment property is carried at fair value determined annually by the Trustee Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of financial activities.
## **2.9 DEBTORS**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 CASH AT BANK AND IN HAND**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 LIABILITIES**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.12 FINANCIAL INSTRUMENTS**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 15
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.13 PENSIONS**
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
## **2.14 FUND ACCOUNTING**
General funds are unrestricted funds which are available for use at the discretion of the Trustee Directors in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
Critical areas of judgment:
The valuation of investment property at £2,039,523 _(2019 - £2,039,523)_ have been made.
The estimate of future grave maintenance costs totalling £15,135,576 _(2019 - £13,268,400)_ have been made.
## **4. INCOME FROM DONATIONS AND LEGACIES**
|Donations
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
95,496
_88,785_|**Restricted**
**funds**
**2020**
**£**
4,540
_27,665_|**Total**
**funds**
**2020**
**£**
**100,036**
_116,450_|_Total_
_funds_
_2019_
_£_
_116,450_|
|---|---|---|---|---|
||||||
Page 16
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|Income from charitable activities - Burial and funeral services
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
5,875,402
_3,291,114_|**Total**
**funds**
**2020**
**£**
**5,875,402**
_3,291,114_|_Total_
_funds_
_2019_
_£_
_3,291,114_|
|---|---|---|---|
|||||
## **6. INVESTMENT INCOME**
|Investment income - investment properties
Investment income
_Total 2019_
**OTHER INCOMING RESOURCES**
Other income
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
85,278
10,188
95,466
_73,083_
**Unrestricted**
**funds**
**2020**
**£**
-
_1,400_|**Total**
**funds**
**2020**
**£**
**85,278**
**10,188**
**95,466**
_73,083_
**Total**
**funds**
**2020**
**£**
**-**
_1,400_|_Total_
_funds_
_2019_
_£_
_72,989_
_94_|
|---|---|---|---|
||||_73,083_|
||||_Total_
_funds_
_2019_
_£_
_1,400_|
|||||
## **7. OTHER INCOMING RESOURCES**
Page 17
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **8. INVESTMENT MANAGEMENT COSTS**
|Investment management fees
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
10,044
_11,840_|**Total**
**funds**
**2020**
**£**
**10,044**
_11,840_|_Total_
_funds_
_2019_
_£_
_11,840_|
|---|---|---|---|
|||||
## **9. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
## **SUMMARY BY FUND TYPE**
|Burial and funeral services
_Total 2019_
**SUMMARY BY EXPENDITURE TYPE**
**Staff costs**
**2020**
**£**
Burial and funeral services
883,528
_Total 2019_
_676,650_|**Unrestricted**
**funds**
**2020**
**£**
3,436,002
_3,302,297_
**Depreciation**
**2020**
**£**
59,969
_60,751_|**Restricted**
**funds**
**2020**
**£**
4,540
_27,665_
**Other costs**
**2020**
**£**
2,497,045
_2,592,561_|**Total**
**funds**
**2020**
**£**
**3,440,542**
_3,329,962_
**Total**
**funds**
**2020**
**£**
**3,440,542**
_3,329,962_|_Total_
_funds_
_2019_
_£_
_3,329,962_|
|---|---|---|---|---|
|||||_Total_
_funds_
_2019_
_£_
_3,329,962_|
||||||
Page 18
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **10. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Burial and funeral services
_Total 2019_|**Activities**
**undertaken**
**directly**
**2020**
**£**
3,258,144
_3,176,231_|**Support costs**
**2020**
**£**
182,398
_153,731_|**Total**
**funds**
**2020**
**£**
**3,440,542**
_3,329,962_|_Total_
_funds_
_2019_
_£_
_3,329,962_|
|---|---|---|---|---|
||||||
## **ANALYSIS OF DIRECT COSTS**
|Grave markers
Planks
Maintenance
Future maintenance provision
Light and heat
Rates
Telephone and internet
Motor, travel and plant running costs
Funeral service costs
Consultancy
Staff costs
Depreciation
**TOTAL 2020**
_Total 2019_|**Burial and**
**funeral**
**services**
**2020**
**£**
112,198
83,783
200,060
1,867,176
19,103
13,728
9,225
25,904
27,768
47,880
791,350
59,969
3,258,144
_3,176,231_|**Total**
**funds**
**2020**
**£**
**112,198**
**83,783**
**200,060**
**1,867,176**
**19,103**
**13,728**
**9,225**
**25,904**
**27,768**
**47,880**
**791,350**
**59,969**
**3,258,144**
_3,176,231_|_Total_
_funds_
_2019_
_£_
_58,043_
_47,180_
_189,682_
_2,091,740_
_25,585_
_11,524_
_14,963_
_18,751_
_9,653_
_58,919_
_589,440_
_60,751_|
|---|---|---|---|
||||_3,176,231_|
|||||
Page 19
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **10. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)**
## **ANALYSIS OF SUPPORT COSTS**
|**Burial and**
**funeral**
**services**
**2020**
**£**
Staff costs
92,178
Printing, postage and stationery
6,523
Subscriptions
2,637
Insurance
10,982
Bank charges
11,608
Internal audit costs
15,750
Auditors' remuneration
10,440
Legal and professional fees
17,722
Computer costs
5,332
Sundry expenses
2,126
Protective clothing and uniforms
7,100
**TOTAL 2020**
182,398
_Total 2019_
_153,731_
**11.**
**AUDITOR'S REMUNERATION**
Fees payable to the charity's auditor for the audit of the charity's annual accounts
Fees payable to the charity's auditor in respect of:
All non-audit services not included above|**Total**
**funds**
**2020**
**£**
**92,178**
**6,523**
**2,637**
**10,982**
**11,608**
**15,750**
**10,440**
**17,722**
**5,332**
**2,126**
**7,100**
**182,398**
_153,731_
**2020**
**£**
**8,840**
**1,600**|_Total_
_funds_
_2019_
_£_
_87,210_
_7,706_
_1,785_
_8,854_
_11,332_
_14,760_
_10,000_
_8,089_
_1,605_
_2,192_
_198_|
|---|---|---|
|||_153,731_|
|||_2019_
_£_
_8,500_
_1,500_|
Page 20
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. STAFF COSTS**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2020**
**£**
**794,407**
**72,225**
**16,896**
**883,528**|_2019_
_£_
_608,340_
_55,746_
_12,564_|
|---|---|---|
||||
|||_676,650_|
The average number of persons employed by the charity during the year was as follows:
|Trustee Director
Employees|**2020**
**No.**
**1**
**27**
**28**|_2019_
_No._
_1_
_21_|
|---|---|---|
||||
|||_22_|
No employee received remuneration amounting to more than £60,000 in either year.
During the year £47,895 (2019 - £47,895) was paid to the trustee, Mehboob Ibrahim Patel, in relation to services provided in the running of the company.
£23,940 _(2019 - £23,030)_ was paid to Shaahid Patel in the year in relation to services provided in the running of the cemetery. Shaahid Patel is the son of the Trustee Director Mehboob Ibrahim Patel.
None of the other trustees or any persons connected with them received any remuneration during the year.
## **13. TRUSTEE DIRECTORS' REMUNERATION AND EXPENSES**
|||**2020**|_2019_|
|---|---|---|---|
|||**£**|_£_|
|Mehboob Ibrahim Patel|Remuneration|**47,895**|_47,895_|
||Pension contributions paid|**1,250**|_1,141_|
During the year ended 31 December 2020, no Trustee Director expenses have been incurred _(2019 - £NIL)_ .
Page 21
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **14. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2020
Additions
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for the year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
_At 31 December 2019_
**15.**
**INVESTMENT PROPERTY**
**VALUATION**
At 1 January 2020
At 31 December 2020|**Freehold land**
**and buildings**
**£**
**11,808,713**
**707,236**
**12,515,949**
**-**
**-**
**-**
**12,515,949**
_11,808,713_|**Plant and**
**machinery**
**£**
**335,731**
**113,085**
**448,816**
**76,004**
**59,969**
**135,973**
**312,843**
_259,727_|**Total**
**£**
**12,144,444**
**820,321**|
|---|---|---|---|
||||**12,964,765**|
||||**76,004**
**59,969**|
||||**135,973**|
||||**12,828,792**|
||||_12,068,440_|
||||**Freehold**
**investment**
**property**
**£**
**2,039,523**|
||||**2,039,523**|
The 2020 valuations were made by the Trustee Directors, on an open market value for existing use basis.
Page 22
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **16. FIXED ASSET INVESTMENTS**
|**COST OR VALUATION**
At 1 January 2020
**AT 31 DECEMBER 2020**
**NET BOOK VALUE**
**AT 31 DECEMBER 2020**
_At 31 December 2019_|**Investments**
**in subsidiary**
**companies**
**£**
**1**|
|---|---|
||**1**|
||**1**|
||_1_|
## **PRINCIPAL SUBSIDIARIES**
The following was a subsidiary undertaking of the charity:
|**Name**||**Company**|**Registered office or principal place**|**Principal activity**|
|---|---|---|---|---|
|||**number**|**of business**||
|GOP Funeral|Services Ltd|11310221|77 Vaughan Gardens, Ilford, Essex,|Funeral services|
||||IG1 3PB||
|**Class of**|**Holding**|**Included in**|||
|**shares**||**consolidation**|||
|Ordinary|100%|No|||
The financial results of the subsidiary for the year were:
**Name Net assets £** GOP Funeral Services Ltd **1**
Page 23
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. DEBTORS**
|**DUE AFTER MORE THAN ONE YEAR**
Other debtors
**DUE WITHIN ONE YEAR**
Burial fees
Other debtors
Prepayments and accrued income|**2020**
**£**
**-**
**75,720**
**300,000**
**14,528**
**390,248**|_2019_
_£_
_300,000_
_-_
_200,000_
_13,678_|
|---|---|---|
||||
|||_513,678_|
## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other taxation and social security
Pension fund loan payable
Other creditors
Accruals and deferred income|**2020**
**£**
**353,939**
**18,788**
**3,290**
**58,267**
**68,073**
**502,357**|_2019_
_£_
_235,073_
_14,648_
_2,606_
_56,200_
_89,274_|
|---|---|---|
||||
|||_397,801_|
Included in other creditors is an amount of £54,200 _(2019 - £56,200)_ which represents amounts advanced to the charity on an interest free basis to enable it to fund the development of the cemetery. These amounts are repayable on request by the lendors.
## **19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Advanced payments
Funeral plans|**2020**
**£**
**68,675**
**262,521**
**331,196**|_2019_
_£_
_69,075_
_146,309_|
|---|---|---|
||||
|||_215,384_|
Advanced payments and Funeral plans represent monies received for future burials, as further explained in the accounting policies note 2.3
Page 24
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **20. PROVISIONS**
|At 1 January 2020
Additions|**Grave**
**maintenance**
**provision**
**£**
**13,268,400**
**1,867,176**|
|---|---|
|||
||**15,135,576**|
## **GRAVE MAINTENANCE**
The Trustee Directors recognise an obligation to maintain graves at the cemetery for a period of 50 years from the date of burial. Accordingly a provision is included in these accounts to cover the estimated cost over a 50 year period of maintaining each grave at the cemetery from the year of burial. The estimated cost is reviewed each year to take into account wages and other cost inflation. The charge against income in the year represents the estimated cost of maintenance of burial undertaken during the year as well as adjustments relating to wages and other cost inflation in relation to burials in earlier years.
Page 25
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **21. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**UNRESTRICTED FUNDS**
General Funds - all funds
**RESTRICTED FUNDS**
Restricted Funds - all funds
**TOTAL OF FUNDS**
**STATEMENT OF FUNDS - PRIOR YEAR**
**UNRESTRICTED FUNDS**
General Funds - all funds|**Balance at 1**
**January 2020**
**£**
**7,558,668**
**-**
**7,558,668**
_Balance at_
_1 January_
_2019_
_£_
_7,418,423_|**Income**
**£**
**6,066,364**
**4,540**
**6,070,904**
_Income_
_£_
_3,454,382_|**Expenditure**
**£**
**(3,446,046)**
**(4,540)**
**(3,450,586)**
_Expenditure_
_£_
_(3,314,137)_|**Balance at 31**
**December**
**2020**
**£**
**10,178,986**|
|---|---|---|---|---|
|||||**-**|
|||||**10,178,986**|
|||||_Balance at_
_31 December_
_2019_
_£_
_7,558,668_|
Page 26
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **22. SUMMARY OF FUNDS**
## **SUMMARY OF FUNDS - CURRENT YEAR**
|General funds
Restricted funds
**SUMMARY OF FUNDS - PRIOR YEAR**
General funds|**Balance at 1**
**January 2020**
**£**
**7,558,668**
**-**
**7,558,668**
_Balance at_
_1 January_
_2019_
_£_
_7,418,423_|**Income**
**£**
**6,066,364**
**4,540**
**6,070,904**
_Income_
_£_
_3,454,382_|**Expenditure**
**£**
**(3,446,046)**
**(4,540)**
**(3,450,586)**
_Expenditure_
_£_
_(3,314,137)_|**Balance at 31**
**December**
**2020**
**£**
**10,178,986**
**-**|
|---|---|---|---|---|
|||||**10,178,986**|
|||||_Balance at_
_31 December_
_2019_
_£_
_7,558,668_|
Page 27
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **23. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD**
**Unrestricted**
**funds**
**2020**
**£**
Tangible fixed assets
12,828,792
Fixed asset investments
1
Investment property
2,039,523
Current assets
11,155,542
Creditors due within one year
(502,357)
Creditors due in more than one year
(206,939)
Provisions for liabilities and charges
(15,135,576)
**TOTAL**
10,178,986
**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD**
_Unrestricted_
_funds_
_2019_
_£_
Tangible fixed assets
12,068,440
Fixed asset investments
1
Investment property
2,039,523
Debtors due after more than one year
300,000
Current assets
7,026,285
Creditors due within one year
(397,801)
Creditors due in more than one year
(209,380)
Provisions for liabilities and charges
(13,268,400)
**TOTAL**
7,558,668|**Restricted**
**funds**
**2020**
**£**
-
-
-
124,257
-
(124,257)
-
-
_Restricted_
_funds_
_2019_
_£_
-
-
-
-
6,004
-
(6,004)
-
-|**Total**
**funds**
**2020**
**£**
**12,828,792**
**1**
**2,039,523**
**11,279,799**
**(502,357)**
**(331,196)**
**(15,135,576)**
**10,178,986**
_Total_
_funds_
_2019_
_£_
_12,068,440_
_1_
_2,039,523_
_300,000_
_7,032,289_
_(397,801)_
_(215,384)_
_(13,268,400)_
_7,558,668_|
|---|---|---|
|Tangible fixed assets
Fixed asset investments
Investment property
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
**TOTAL**|||
Page 28
DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
||**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**|**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**|**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**|**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**|
|---|---|---|---|---|
|**24.**|**ACTIVITIES**||||
||||**2020**|_2019_|
||||**£**|_£_|
||Net income for the period (as per Statement of Financial Activities)||**2,620,318**|_140,245_|
||**ADJUSTMENTS FOR:**||||
||Depreciation charges||**59,969**|_60,751_|
||Dividends, interests and rents from investments||**(95,466)**|_(74,483)_|
||Decrease in debtors||**123,430**|_30,585_|
||Increase in creditors||**220,368**|_60,551_|
||Maintenance provision||**1,867,176**|_2,091,740_|
||**NET CASH PROVIDED BY OPERATING ACTIVITIES**||**4,795,795**|_2,309,389_|
|**25.**|**ANALYSIS OF CASH AND CASH EQUIVALENTS**||||
||||**2020**|_2019_|
||||**£**|_£_|
||Cash in hand||**10,889,551**|_6,818,611_|
|**26.**|**ANALYSIS OF CHANGES IN NET DEBT**||||
|||||**At 31**|
|||**At 1 January**||**December**|
|||**2020**|**Cash flows**|**2020**|
||||**£**|**£**|
|||**£**|||
||Cash at bank and in hand|**6,818,611**|**4,070,940**|**10,889,551**|
||Debt due within 1 year|**(2,606)**|**(684)**|**(3,290)**|
|||**6,816,005**|**4,070,256**|**10,886,261**|
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DocuSign Envelope ID: C428BFF6-133A-453C-9584-173CAF968C0F
## **GARDENS OF PEACE MUSLIM CEMETERY**
**(A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **27. PENSION COMMITMENTS**
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £16,896 _(2019 - £12,564)_ . Contributions totalling £3,290 _(2019 - £2,606)_ were payable to the fund at the balance sheet date and are included in creditors.
## **28. RELATED PARTY TRANSACTIONS**
||**2020**|_2019_|
|---|---|---|
|Freehold land and buildings additions|**42,880**|_22,230_|
The transactions above relate to Burr & Neve LLP, Chartered Quantity Surveyors. Gulam Ismail Nadat, a Trustee Director, is a partner in Burr & Neve LLP and was excluded from the decision making process relating to the appointment of quantity surveyors to avoid any conflict of interest.
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