2020-11-30-accounts - Newmarket Islamic Cultural Centre

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Charity number: 1162264

NEWMARKET ISLAMIC CULTURAL CENTRE DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020

Accountax Consultants UK Ltd

Chartered Certified Accountants & Registered Auditors

The Basement, Goodmayes House 45-49 Goodmayes Road Ilford London IG3 9UF

Newmarket Islamic Cultural Centre Trustees' Report and Unaudited Financial Statements For The Year Ended 30 November 2020

Contents
	Page
Company Information	1
Trustees Report	2
Independent Examiner Report to trustees	3
Statement of financial activities	4
Balance Sheet	5
Income and expenditure account	6
Notes to the Financial Statements	7
Detailed Income and Expenditure Account	9

Newmarket Islamic Cultural Centre Company Information For The Year Ended 30 November 2020

Directors	Mr Said Bahadar
	Mr Shajahan Begg
Governing	Memorandum and articles incorporated 28 Sep 2018 as amended by special resolution registered at
Document	companies’ house on 27 Nov 2019
Trustees	SHAJAHAN UDDIN BEGG
	ALI MOHAMMED
	SAID BAHADAR
Company Number	08796832
Charity Number	1162264
Registered Office	16 St. Marys Square
	Newmarket
	England
	CB8 0HZ
Accountants	Accountax Consultants UK Ltd
	Chartered Certified Accountants & Registered Auditors
	The Basement, Goodmayes House 45-49 Goodmayes Road
	Ilford
	London
	IG3 9UF

Page 1

Newmarket Islamic Cultural Centre Company No. 08796832 Trustees' Report for The Year Ended 30 November 2020

The trustees present their report and the financial statements for the year ended 30 November 2020.

Charity Objective

The objective of the charity is mainly to make grants to relieve poverty, advance education and to preserve and protect good health.

Financial Review

Major portion of the grants during the year were donated by general public but the charity does not work with professional fundraisers or commercial participators. These grants were used for marriage services afterschool club seminar in different subjects and from scholars from all over the world teaching and learning circles for adults in accordance with the charity objectives.

Trustees Responsibilities

The trustees present their report and the financial statements for the year ended 30 November 2020.

The trustees are responsible for preparing the trustees Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the 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 company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors/Trustees

The directors who held office during the year were as follows:

Said Bahadar Shahjahan Begg

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

On behalf of the board

----------------------------Dr Said Bahadar

Date: 16 July 2021

Page 2

Newmarket Islamic Cultural Centre Independent Examiner Report For The Year Ended 30 November 2020

To The Trustees of Newmarket Islamic Cultural Centre:

We report to the charity trustees on our examination of the accounts of the Company for the year ended 30[th] November 2020.

Trustees & Examiner Responsibilities

As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied our self that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, it is our responsibility to:

To examine the financial statements under section 145 of the Charities Act 2011 (“the 2011 Act”).
To follow the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act).

Independent Examiner Statement:

We confirm that no material matters have come to our attention which gives us cause to believe that:

accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
the accounts do not accord with such records; or
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the Charities SORP (FRS102).

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Accountax Consultants UK Ltd Chartered Certified Accountants & Registered Auditors The Basement Goodmayes House, 45-49 Goodmayes Road Ilford

IG3 9UF

Page 3

Newmarket Islamic Cultural Centre Statement Of Financial Activities For The Year Ended 30 November 2020

Notes Income and endowments from: Donations and legacies 2 Total Expenditure on: Charitable activities 3 Total Other Operating Income Net income/(expenditure) Net movement in funds 5 Reconciliation of funds: Total funds brought forward Total funds carried forward 5	Unrestricted funds £ 2020 16,129 16,129 (6,337) 9,792 12,179 21,971 21,971 324,368 346,339	Restricted funds £ 2020 - - - - - - - -	Endowment funds £ 2020 - - - - - - - -	Total funds £ 2020 16,129 16,129 (6,337) 9,792 12,179 21,971 21,971 324,368 346,339	Prior year funds £ 2019 26,988
					26,988
					(6,855)
					(20,133)
					-
					20,133

					20,133
					304,235
					324,368

Page 4

Newmarket Islamic Cultural Centre Balance Sheet As at 30 November 2020

2020 £ £ 350,000 350,000 5,979 5,979 5,979 355,979 (9,640) 346,339 346,339 346,339	2020 £ £ 350,000 350,000 5,979 5,979 5,979 355,979 (9,640) 346,339 346,339 346,339	2019 £ £ 350,000 350,000 33,008 33,008 33,008 383,008 (58,640) 324,368 324,368 324,368	2019 £ £ 350,000 350,000 33,008 33,008 33,008 383,008 (58,640) 324,368 324,368 324,368
	350,000 5,979		350,000 33,008
5,979		33,008
	355,979		383,008
	(9,640)		(58,640)
	346,339		324,368
	346,339		324,368
	346,339		324,368

For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Mr Said Bahadar Director 15/07/2021

The notes on pages 7 to 8 form part of these financial statements.

Page 5

Newmarket Islamic Cultural Centre Income & Expenditure Account As at 30 November 2020

Notes TURNOVER GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR	2020 £ 16,129 16,129 (6,337) 12,179 21,971	2019 £ 26,988
		26,988 (6,855) - 20,133

Page 6

Newmarket Islamic Cultural Centre Notes to the Financial Statements For The Year Ended 30 November 2020

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102), and with the Charities Act 2011.

The Charity meets the definition of a public entity under FRS 102.

1.2. Going Concern Disclosure

The Trustees are not aware of any material uncertainties about the charity’s ability to continue as a going concern. The financial statements have therefore been prepared on the basis that the charity is a going concern.

1.3. Income

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and there is certainty of receipt.

Donations and legacies: This comprise of all incoming resources from donations collected during the year.

1.4. Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of obligation can be measured reliably.

2. Donations and legacies

Donations	Unrestricted Funds 2020 £ 16,129 16,129	Restricted Funds 2020 £ - -	Total Funds 2020 £ 16,129 16,129	Total Funds 2019 £ 26,988
				26,988

3. Expenditure on activities

Rent Rates Light and heat Insurance Professional fees	Unrestricted Funds 2020 £ 228 1,753 3,766 590 - 228 6,337	Restricted Funds 2020 £ - - -	Total Funds 2020 £ 228 1,753 3,766 590 - 228 6,337	Total Funds 2019 £ 1,484 652 840 - 3,879 1,484
				6,855

Page 7

Newmarket Islamic Cultural Centre Notes to the Financial Statements For The Year Ended 30 November 2020

4. Cash at bank and in hand

At 1st Dec 2019 £ 324,368 324,368	Income £ 16,129	Grant £ 12,179 12,179	2020 2019 £ £ 5,979 33,008 5,979 33,008 Expenditure At 30th Nov 2020 £ £ (6,337) 346,339 (6,337) 346,339	2019 £ 33,008
				33,008
	16,129

5. Statement of funds

6.Tangible Assets

6.Tangible Assets

		Land & Property
			Freehold
			£
Cost
As at 1 December 2019			350,000
As at 30 November 2020			350,000
Net Book Value
As at 30 November 2020			350,000
As at 1 December 2019			350,000
7.Creditors: Amounts Falling Due After More Than One Year
	2020		2019
	£		£
Other creditors	9,640		58,640
	9,640		58,640
	9,640

Page 8

Newmarket Islamic Cultural Centre Detailed Income and Expenditure Account For The Year Ended 30 November 2020

TURNOVER Donations Rent Received GROSS SURPLUS Administrative Expenses Rent Rates Light and heat Insurance Professional fees Other Operating Income Grants and subsidies received OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR	2020 £ £ 16,129 - 16,129 16,129 228 1,753 3,766 590 - (6,337 ) 12,179 12,179 21,971	2020 £ £ 16,129 - 16,129 16,129 228 1,753 3,766 590 - (6,337 ) 12,179 12,179 21,971	2019 £ £ 25,263 1,725 26,988 26,988 1,484 652 840 - 3,879 (6,855 ) - - 20,133	2019 £ £ 25,263 1,725 26,988 26,988 1,484 652 840 - 3,879 (6,855 ) - - 20,133

		21,971		20,133

Page 9