ABERFELDY ISLAMIC CULTURAL CENTRE Charity Registration Number: 1157888 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 REPORTING ACCOUNTANTS.. AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E14SA TEL.- 020 7790 6111 Page 1 of 13
ABERFELDY ISLAMIC CULTURAL CENTRE FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Pages Information of financial Statements Report ol the Executive Committee Statement of responsibilities of the Committee.. Independent Examinees Report Income and Expenditure Accounts Statement of Assets and Liabilities 10 Notes to the Accounts 11-13. Page2of 13
ABERFELDY ISLAMIC CULTURAL CENTRE FOR THE YEAR ENDED 31 MARCH 2024 MANAGEMENT cOMMIEE EXECUTIVE COMMITTEE CHAIR PERSON Mahbubul Alom GENERAL SECRETARY Mashuk Ahmed TREASURER Shamsul Hoque ADDRESS 36 - 38 Aberfeldy Sreel Poplar London E14 ONU BANKER Barclays Bank INDEPENDENT EXAMINER REPORTING ACCOUNTANTS. AM ACCOUNTANCY SERVICES 43 8EN JONSON ROAD LONDON E14SA Chari 's Trustees: Mahbubul Alom Muhibur Rahman Mashuk Ahmed Aklher Hus5ain Babul Shamsul Hoque Monsur Miah Mamun Ahmed Choudhury Fozlur Rahman Md Nizam Ahmed Chair Person Vice Chair General Secretary Assislanl Secretary Treasurer Cultural & Education Secretary Press & Publicity Secretary EC Membei EC Member Page 3 of 13
ABERFELDY ISLAMIC CULTURAL CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financial stateinents for the year ended J l March 2024. The Trustees have <idopted ihe provisions of tlie Statement of Recominended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing tlie annual report and financial slateinents of tlie Charity- Legal Status: Charity: Registered with the Charity Conunission, Charity Number.. l 157888 Objects, Principal Activities and Organisation of the Charity The Charily's objects are for tlie benefit of the inhabitants of London Bomugh of Tower Hamlets, and in parlicular members of the Muslim MinorTrty Ethnic Cominunities but exclusively who are in hardship by: al Relieving poverty. sickness and distress by through the provision ol advice and information to the said inhabitants in need of such advice that may include welfare benefits. health and education. bl Advancing education in particular the provision of language and other subject classes. cl Providing or assisting in the provision of facilities for the recreation and the leisu lime. occupation in Ihe interest of social welfare and the object of improving their conditions of life. dl To advance the religion of Islam in accordance with the doctrines and tenets of the Sunni Secl of Islam_ el To advance Ihe education of Muslims and Muslim children in conformity with the doctrines and beliefs of the Sunni Secl of Islam_ Report of the "frustees l-he Management Committee (who are also the Truslecs) submits their report and Financial slatements for Ihe y¢ar ended 31 March 2024. Page 4 of 13
ABERFELDY ISLAMIC CULTURAL CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2024 Organisation: A Management Committee. the members of which are the trustees manages the affairs of the charity The Management Committee manages the business of the charity including the paying of all expenses Trustees: Trustees, who are all members ol the executive committee, and wlio served during the year are set out on page 3. The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve unlil the end of the next Annual General Meeting, where they can stand for re- election Is members of the new Executive Committee. Trustees responsibilities in relation to the finaucial statements The committee or Trustees are required by charity's law to prepare financial statetnents for each financial year wliich give a triie aiid fair view of the finaiicial activities of the chariiy and of its financial position at the end of that year. In preparing those financial statements the Trustees are required to- The Trustees are responsible for preparing the Trustees Annual Report and the Financial Slalements in accordan wilh applicable law and regulations and United Kingdoffl Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires Ihe Trustees to prepare Financial Statements for each financial year which give a Irue and fair view of the slate of affairs of the charity and of the incoming resources and application of ie50urces of the Charity for that period_ In preparing these Financial Statements. the Trustees are required lo.. Select suitable accounting policie5 and then apply them consislenlly" ObseTve Ihe methods and principles in the Charities SORP". Make judgements and accounting estimates that are reasonable and pnjdent., Prepare the Financial Statements on Ihe going concèrn basis unless it is inappropriate lo presume that Ihe charity will continue in operation . The Trustees are responsible.for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and p.nable them to ensure thal the Financial Statements comply with the Charities Act 2011_ The Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are a150 responsible for safeguarding the assets of Ihe charity and hence for taking reasonable slep5 for the prevention and detection of fraud and other irregularities VOLUNTEERS: The Tnjstees wish to record their appreciation on behalf of the Charity and community for the volunteers who _ assisl in the smooth running of the Charity and are critical in helping to keeps the running cost5 down RISK REVIEVV: The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated lo minimise the identified risks. All functions of the Charity are subjected to periodic VIeW resulting in a process of ongoing improvement. All staff and volunteers are trained and have all Ihe required slatulory and regulatory clearances required. Page5of13
ABERFELDY ISLAMIC CULTURAL CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2024 SERIOUS INCIDENTS AND EXCEPTIONS: The Tnjstees are pleased lo note, that there were no incidents which gave rise lo the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to Ihe need for the Trustees to record on the Charity's Exceptions, Register. RELATED PARTY TRANSACTIONS: During the year the Charity was under the control of Truslees and Managemenl Commillee members as listed above. This report. which has been prepared in accordance with the special provisions of Part 15 of the Companies Acl 2006 applicable to small companies. No members of the management committee received any remuneration during the yeaf. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. Reserve Policy It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to ils expenditure. The Trustees consider that resetves at this level will ensure that, in the event of a significant drop in funding. They will be able to continue the charity's CUFrenl activities while consideration is given to ways in which additional funds may be raised. The Centre will aclively work to achieve this level of reserves. INDEPENDENT EXAMINER According to Ihe provisions of the Charities Act 2008 and updated 2011, the Committee has agreed that and audit is not required for this financial year. However due lo provision5 of Ihe same act an independent examiner is required and AM Accountancy Services appointed as external Accountant or Independent Examiner. Transaction and financial position The Statement of Financial Aclivilies shows net sijrplus for the year of £62.016 and our accumulated funds sland al £356.028 in total. AM Accountancy Services carTied out an independent examination of the accounts included in the report. This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005. Approved by the trustees and signed on Its behalf by This report was approved by the Executive Committee on and signed on their behalf. Mahbubul Alom (Chairman) Date: hmed {Genefal Secretary) Date: Shamsul Hoque (Treasurer) Dale.. ie i? Page 60113
Accountants, Report To the Trustees of ABERFELDY ISLAMIC CULTURAL CENTRE FOR THE YEAR ENDED 31 MARCH 2024 We report on the accounts for the year ended 31 March 2024 set out on pages 8 to 12 which have been prepared under the historical cost convention and the 8ccountin9 policies set out in note 1 lo the financial statements. Respective Responsibilitics of Trustees and Accountants As described on page 5 the trustees are responsible for the preparation of the financial stateinents. and they consider Ihat tlie trust is exetnpt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you. Basis of Opinion We conducted our work in accordance with the Statement of Standards for Reporting Accounlanls, and so our Procedures consisted of comparing the accounts with the accounting records kepl by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedufes provide only the assurance expressed in our opinion. Opinion n our opinion- (a) The accounts are in agreement with thè accounting records kept by the charity under the requirements of the Statement of Recommended Practice- Accounting and Reporting by Charities". (b) Having regaid or>ly to. and on the basis of. the information contained in those accounts: {11 The accounts have been drawn up in a manner consistent with Ihe accounting requiremen15 specified the Statement of Recommended Pfactice - Accounting and Reporting by Charities, and (2) The charity salisfied the conditions for the exemption from an audit of the account5 for the year specified in the Charities Act. (31 This unauditec5 Account we have prepared in accordance with the figure. information and explanation we have received from the managemenl of the current committee. gotirtLIIC RVICES AM ACCOUN'T.INC.'I' SF.RI,'ICES 13 I4LN JON4ON 5IOAD LONDON LI ISA I'LL.. O?0 7790 6111 FAX.. 020 7790 80)., AM ACCOUNTANCY 43 BEN JONSON ROAD LONDON EI 4SA Date. l ? Page 7 of 13
ABERFELDY ISLAMIC CULTURAL CENTRE Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024 2024 Total 2023 Total Notes Unrestricted Reslficled Incorning Resources Memebership fees Income from Sales of Vegetables Grant.. LBTH Donations for New Mosque Parents Conlributron Grant from HARCA All Other General Donations Nomination Fees 22,842 22.842 4,205 80.399 4,205 67.202 87,202 71.530 Total Incomin Resources 71,407 22.842 94,249 151.929 Resour¢e$ Expended Direct Charitable Expenditure Printing, Postage, & Advertisement Telephone. fax and photocopies Rent. Rates and service char9es Light. Heat and Water Cleaning Freelance Staff Events. Activities & Stationery 1,236 1.236 880 1.292 985 331 26.010 1.292 985 331 26.010 1.981 24.842 Direct charitable ex enditure 29.854 29,854 27,703 Management & Administration Accountancy Advertising and promotion Bank charges Insurance CRB fee Deprectalion Sundry Re airs emenl & Administration 600 600 600 1.197 1.197 1,037 582 2,379 582 2,379 123 1.760 Mana Total Resources Ex ended 32,233 32.233 29.463 Net Incomlng Resourees I (resources expended) 39,174 22.842 62,036 122.466 Net Movement funds for the period". 39,174 22,842 62.016 122,466 Total Funds Brought forward 165.013 128,999 294,012 171,546 Balance at 31 March 2024 204,187 151,841 356.028 294.012 Page8 of13
ABERFELDY ISLAMIC CULTURAL CENTRE Summary Income and Expenditure Account FOR THE YEAR ENDED 31 MARCH 2024 2024 Notes Income Total expenditure Net Surplus (Deficill for the financial year 94,249 32,233 62,016 Page 9 of 13
ABERFELDY ISLAMIC CULTURAL CENTRE Balance Sheet as at 31 March 2024 2024 NOTE Fixed Assets FixtLJre. Fittings and Equipments 6.784 Current Assets Cash at Bank & in Hand Debtor (Grant receivable from HARCA + £50.00 Membership fee + Propety fund} 149,794 218,050 367.844 Current Liabilities Amount falling due to one year Accruals 18,600 18.600 NET CURRENT ASSETS I (LIABILITIES) 349,244 TOTAL ASSETS LESS CURRENT LIABILITIES 356,028 FUNDS: 294.012 ExcessllDeficill of incotne over expenditure 62.016 Total Funds 356.028 The financial statements were approved by the Executive Committee on their behalf by.. If/,/' and signed on Mahbubul Alom IChairperson} Ahmed (General Secretary) Shamsul Hoque ITfea5urer) Date.. 1¢ Date." { o Date-. The Notes on pages 10 to 12 fomi part of the financial slatements. Page 10of 13
- ACCOUNTING POLICIES Basis of Accounting Basis of accounting The Financial Statements have been prepared under the historical cost convention. as modified by the revaluation of certain fixed assets and investments measured al market value. The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities {effeclive January 20151, and the requirements of Accounting and Reportirig by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 20151- b. Grants Revenue grants are credited lo the Income and Expenditure account on a receivable basis. c. Donations Donation are recorded on a receipt basis. d. Incorning Resources Voluntary incorrie and donations are includéd in incoming resources when they are receivable, except when Ihe donors specify that they must be used in fulure accounting periods or donors, conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross. with the associated costs included in fundraising costs. Resources Expended Resources expended are included in the Statement of Financial Aclivilies on accruals basis. inclusive of any VAT that cannot be recovered. Expenditure that is directly attiibutable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use ol those resources. f. Going Concern Basis The financial statements have been prepared on the going concem basis, as in the opinion of the irustees. there are no issues arising which would suggest any other basis as being more appropriate. g. Administration Costs Administration expenditure indudes all expenditure not directly related lo the charitable activity. h. Taxation As a charity. they are exempl from tax on income and gains falling within section 505 of the Taxes Act 1988 or 5256 of Ihe Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects. No lax charges have arisen in the Charity. i. Depreclalion: Depreciation is calculated so as to write off the cost of an asset, less it5 estimated residual value, over the useful economic life ol that asset as fo15ows'. Fixture, Fitting and Equipment: 15 0/0 on Reducing Balance method Page11of13
ABERFELDY ISLAMIC CULTURAL CENTRE FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE ACCOUNTS 2. FIXED ASSETS COST Fixtures. fillings & Itnprovernents Building and Consifuclion Al 01 April 2023 Fixtures and frttings Addition Al 31 March 2024 5,878 2.100 7.978 5,878 2,100 7,978 DEPRECIATION Al 01 April 2023 Charge for the year Al 31 hAarch 2024 1,197 1.197 1.197 1.197 NET BOOK VALUE Al 01 April 2023 Al 31 March 2024 5.878 6.781 5.878 6,781 Page 12of 13
ABERFELDY ISLAMIC CULTURAL CENTRE FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE ACCOUNTS Net Surplus of the Financial Year The excess of expenditure over income is stated after charging- 2024 Accountants, remuneration Depreciation 600 1,197 Creditors and Acruals Rent Accountancy 18,000 600 18.600 Fundslcapital Balance at 31 March 2023 294.012 Balan at 1 April 2023 294,012 Excessl {Deficit) ol Income over Expenditure 62,016 Balance at 31 March 2024 356.028 Page 13of13