2020-08-31-accounts

Company Registration Number - 08663526

The Charity Registration Number is :- 1163646

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Cambridge Islamic College

Report and Accounts

31 August 2020

Cambridge Islamic College

Report and accounts for the year ended 31 August 2020

Contents

	Page
Charity information		1
Trustees' Annual Report		1
Statement of directors' responsibilities		10
Independent Examiner's Report		12
Funds Statements:-
Statement of Financial Activities		14
Statement of Financial Activities - Prior Year statement		15
Movements in funds		16
Revenue Funds		16
Income and Expenditure account		17
Summary of funds		16
Balance sheet		18
Notes to the accounts		19

Company Registration Number - 08663526

Cambridge Islamic College

Trustees' Annual Report for the year ended 31 August 2020

The Trustees present their annual report together with the financial statements for the 1 September 2019 to 31 August 2020, which also comprises the Directors' Report required by the Companies Act 2006. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2019, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP , in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Reference and administrative details

The charity name.

The legal name of the charity is:- Cambridge Islamic College

The charity's operating name is Cambridge Islamic College

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1163646

Legal structure of the charity

Cambridge Islamic College is a company limited by guarantee, registered under the Companies Acts, with company registration number 8663526, governed by its Memorandum and Articles of Association dated 27 August 2013 as amended by special resolution registered on 11 September 2015. It is registered as a charity with the Charity Commission with registration number 1163646.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

The principal operating address, telephone number, email and web addresses of the charity are:- 58 STURTON STREET CAMBRIDGE , CB1 2QA Telephone [phone] Email Address [e-mail] Web address www.cambridgeislamiccollege.org The registered office of the charity for Companies Act purposes is the same as the operating address shown above. The Trustees in office on the date the report was approved were:- Awais Ahmed Awan Dr Mohammad Akram Mohammad Javed Zafar Ahmed Kurnool The following persons served as Trustees during the year ended 31 August 2019 :- Mohammed Faisal Khaffar Zafar Ahmed Kurnool Awais Ahmed Awan Dr Mohammad Akram Mohammad Javed All the trustees are also members of the charity Custodian Trustees holding assets on behalf of the charity The details of persons holding title to property belonging to the charity, as custodian trustees, or nominees, at the date the accounts were approved were :- Mohammed Faisal Khaffar Awais Ahmed Awan Zafar Ahmed Kurnool It is the intention in due course for the title of the property to be transferred to the name of the charity, and solicitors hoped to complete this process in the course of 2020. However, this was delayed due to the COVID pandemic.

Objects, strategies and activities of the charity

The purposes of the charity as set out in its governing document.

The objective of Cambridge Islamic College is:

For the public benefit, the advancement of education, in particular but not exclusively through the provision of higher education in Islamic Studies.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

The main activities undertaken in relation to those purposes during the year.

Cambridge Islamic College’s mission is to produce a generation of independent Islamic scholars and thinkers who are at the same time working professionals contributing to the wider British society. Cambridge Islamic College is committed to bridging the disconnect between mainstream secular education and specialised Islamic studies. It puts particular emphasis on attracting bright, capable students who are already professionals or on the way to becoming professionals. It expects its graduates to be active as role models in their communities, respected both for their knowledge of the religion and for the flexibility, realism, and independence of mind with which they apply it. In this way they will inspire others to combine the practice of Islam with a positive concern to use their personal and professional skills for the benefit of the whole society.

Cambridge Islamic College takes its students through a rigorous and critical study of the classical Islamic sciences and their sub-disciplines. Alongside the Islamic sciences, the contemporary challenges facing the world and Muslims in particular, are a core focus of the curriculum. Students are encouraged to develop an informed understanding of the shared and different values among Muslims and non-Muslims, and to cultivate the essentially religious virtue of respect and tolerance of others. That virtue is also the basis of civility and good citizenship, and the foundation of a cohesive society that embraces and enjoys its diversity.

The most basic function of education is to equip the young with the skills and knowledge that will enable them to participate fully in the human world that they inherit from the older generation and to live ‘a good life’. In recent times this function has come to be understood in the narrow sense of instruction that equips the young to be economically productive, that is, to earn a living. The religious underpinnings and values of ‘a good life’, such as mutual respect and caring, have come to be largely subordinated to economic activity. The negative outcomes of limiting education in this way are everywhere obvious and everywhere on the increase.

Cambridge Islamic College is dedicated to restoring the full meaning of education by offering an opportunity to study, comprehensively and critically, the syllabus of a classical education in the Islamic sciences sensitively adapted for our time. The core aims of the teaching program are:

To give students the necessary skills in reading and using both classical and modern Arabic. Without these skills they cannot expect to access the vast treasury of Islamic thought and culture, still less to benefit by interrogating it critically. Also, Arabic remains the common language among Islamic scholars from different parts of the world and is therefore essential for the exchange of perspectives and experiences.

To teach students the basic techniques and responsibilities of academic research, how to read sources critically, how to negotiate and evaluate arguments and counter-arguments, and how to build their own arguments through writing and speaking exercises

To enable students to read the Qur’an and Qur’anic commentary (tafsir) so that they understand how its teaching educates conscience and behaviour. They should be able to explain to others, as well as understand for themselves, how the guidance of the Qur’an relates to contemporary issues and circumstances.

To teach students the history and development of sira (the biography of the Prophet) and of the hadith sciences: emphasis will be placed on understanding when and how the major hadith compilations were recorded, how the material was assessed and interpreted to inform the norms and rules of individual and collective life, and its continued relevance today.

To give students a firm grasp of the major events in the evolution of fiqh (Islamic jurisprudence), the major schools of law, their commonalities and differences, and the good manners (adab) in managing plurality of legal opinion.

To help students think through some of the theological and philosophical controversies that have persisted in Islamic societies over the centuries and the cultural and political consequences of these controversies in terms of inter-sectarian and inter-religious polemic.

To help students think through some of the theological and philosophical controversies that have persisted in Islamic societies over the centuries and the cultural and political consequences of these controversies in terms of inter-sectarian and inter-religious polemic.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

The main activities undertaken during the year to further the charity's purpose for the public benefit.

The benefit of the College's activities extends to the whole of the general public:

The College is a reliable avenue for both Muslims and non-Muslims to undertake a critical study of Islamic sciences and to carry out research.

It is a place for advancement of and equal access for female scholarship, education, teaching and learning.

It is a reliable source of information and knowledge about Islam for the general public and Muslim youth in particular. Thus providing a channel of mainstream Islam which often is lacking, resulting in young people being attracted to extremist information channels particularly on the internet.

It is a reliable source of information and knowledge about Islam for the general public and Muslim youth in particular. Thus providing a channel of mainstream Islam which often is lacking, resulting in young people being attracted to extremist information channels particularly on the internet.

It is a center for building bridges between different communities via interfaith activities and community outreach programmes.

It caters for the curricular needs of schools and colleges in Cambridgeshire of Islam and Muslim culture.

It provides space for the local community for events and activities when the College building is not in use.

It makes Islamic information and scholarship more accessible to the public via electronic mediums. It makes scholarships and bursaries available to those who are in need to pursue studies at the College.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

The contribution of volunteers during the year.

Volunteers

The College recruited 8 volunteers during this period from different parts of the world. They are involved in promoting the College via social media. Local volunteers participate in organising fundraising events, administrative work and maintaining of the College premises

The main achievements and performance of the charity during the year.

a. Key financial performance indicators

Net Income Growth – Minimum 10%

The Net Loss for the College has decreased from £162,903 in 2019 to £27,602 in 2020. The decline in loss is due to the additional revenue from full-time programmes, income from property and donations

Starting of full-time programmes

The College started 2 new full-time residential programmes in September 2018 – (1) Advanced Alimiyyah Degree in Arabic and Islamic Studies and (2) Arabic Language Mastery Programme. The first cohort of the Alimiyyah programme and the full Arabic programme was successfully completed in July 2020.

b. Achievement and Performance

Long-term Diplomas

College’s is continuing to offer its long term structured diploma programmes taught by its Dean, Dr Mohammad Akram Nadwi and supported by a panel of 6 tutors.

Diploma in Introduction to Classical Islamic Texts is a diploma programme that was carefully designed and structured to give a thorough and meaningful introduction to the major classical Islamic texts related to the Qur'an, the Hadith, Fiqh, Usul al-Fiqh, Philosophy and Logic or the Refutation of Philosophy and Logic, and History. This programme was looking at the early Muslim scholars - the thinkers of Islam - and their works. Through the study of the great scholars, their great minds, their advanced methodologies and sophisticated work, students could begin to understand the true depth and breadth of real Islamic scholarship.

Diploma in Introduction to Classical Islamic Texts is a diploma programme that was carefully designed and structured to give a thorough and meaningful introduction to the major classical Islamic texts related to the Qur’an, the Hadith, Fiqh, Usul al-Fiqh, Philosophy and Logic or the Refutation of Philosophy and Logic, and History. This programme was looking at the early Muslim scholars – the thinkers of Islam – and their works. Through the study of the great scholars, their great minds, their advanced methodologies and sophisticated work, students could begin to understand the true depth and breadth of real Islamic scholarship.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

Diploma in Arabic and Islamic Studies was a two-year foundational/intermediate level course in Arabic and Islamic studies. It was designed to qualify participants for admission into the College’s full-time ‘Alimiyyah Islamic Scholarship Degree programme planned for September 2018, as well as for those who wished to achieve general competency in Arabic and Islamic studies. The course comprised of four components: Arabic language, hadith, fiqh and general Islamic studies. It was expected for this course to meet the basic needs of Muslims living in the West. By doing this course, alongside doing the national curriculum, the students will get a secure foundation on which they can build intelligent, informed practice of their religion, and from which they can proceed to further and deeper study of Arabic and of the Islamic sciences.

Diploma in Advanced Quranic Studies is a two-year intensive programme looking at how to study, understand and interpret the Qur’an based on Surah Al-Baqarah - the longest and most comprehensive surah in the Qur’an. This two-year course represents a serious commitment to go through tafsir (exegesis) of the surah in detail so that students can understand the breadth and depth of the message of the Qur’an. In addition to the tafsir the student will study many of the other sciences of the Qur’an as well as the principles of tafsir through this programme.

The College continues to offer these courses as an online offering via its Learning Management System to provide public benefit while also benefiting from a steady stream of income to support its activities. These accessed by students from all over the world in 220 cities in 40 countries.

Short-Term Online Diplomas

The College successfully revamped its online diploma programmes to make them more structured. The current offering is titled Diploma in Essential Islamic Sciences and is delivered under 3 levels for gradual progression.

These courses were repacked and now delivered under the DeepDeen.tv platform.

New Programmes

The College successfully completed one year of its full-time residential programmes which significantly boosted the image and the credibility of the College.

DEEPDEEN.TV

The College’s subscription-based video platform called DEEPDEEN.TV continues to cater for the general public who are interested in the lectures and courses at the College but are not committed to or does not have the time to formally study at the College. This platform serves the needs of the public and well as bringing in much needed revenue to the College..

College Building

The College building has been used to conduct our onsite classes, mainly the Alimiyyah and Arabic programmes.

The College’s adjoining 10-bedroom house at 56 Sturton Street was granted planning permission to convert the house to a 10-room HMO (House of Multiple Occupancy). Renovations were completed and rooms are rented out bringing in significant revenues to the College.

IT Systems

The College’s Learning Management System continued to help students to access lessons, tutorials, textbooks, exercises and exams remotely from anywhere in the world and to collaborate and discuss with tutors and fellow students to enhance their learning experience. The College continues its virtual classroom platform for live interactive video learning. The College continued to maintain its in-house capabilities to direct, record and produce professional quality video for its portfolio of online courses, saving significant costs in hiring third party production companies.

These systems continue to provide real value for the College by increasing efficiency and effectiveness of its operations and reducing costs.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

Fundraising activities during the year.

New Fundraising Channels

The College started working with charitable foundations to raise funds for student scholarships in addition to continuing with other fundraising channels. The College also raised a significant amount of Zakat for its full-time students.

Structure, governance and management of the charity

Cambridge Islamic College is a company limited by guarantee, with company registration number 8663526, governed by its Memorandum and Articles of Association dated 27 August 2013 as amended by special resolution registered on 11 September 2015. It is registered as a charity with the Charity Commission with registration number 1163646.

The methods used to recruit and appoint new charity trustees.

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association.

The policies and procedures for the induction and training of trustees.

Trustees undergo an orientation session to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Plans for the future

Summary of plans for the future and the trustees' perspective of the future direction of the charity.

The College plans to increase the income from charitable trading activities by providing more online courses as well as through increasing the number of new diploma programmes. This will be further enhanced by the DEEPDEEN.TV platform.

The College has launched the flagship degree level full-time course. Income from this course will further strengthen the financial position of the College.

The College plans to establish a scholarship fund for those who are selected for the full-time programme at the College and who are in need of financial assistance. This will be a separate fund managed by the College with private and institutional donors wishing to sponsor full-time students.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

Professional Advisors

Bankers Solicitors

HSBC PLC, 63-64 St Andrew's St, Cambridge CB2 3BZ Stone King LLP, 3rd Floor Bateman House, 82-88 Hills Rd, Cambridge CB2 1LQ

Financial review

Going Concern

The accounts show net current liabilities at the year-end of £303,390 (2019: £501,485), the College has repaid £150,890 of the existing short-term loans during the past year.

A surplus for the year ended 31 August 2021 is expected from charitable activities. Moreover, the College has successfully launched its full-time residential programmes and launched DEEPDEEN.TV. These combined with rental income from the house and fundraising drives in different cities in the UK, the outlook into 2021 looks positive.

Because of the matters described above the Trustees believe that it is appropriate to continue to adopt the going concern basis in preparing these accounts.

The charity's financial position at the end of the year ended 31 August 2020

The financial position of the charity at 31 August 2020 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Restricted Revenue Funds Total Funds Net expenditure Unrestricted Revenue Funds available for the general purposes of the charity	2020 £ (24,951) 417,277 3,265 420,542	2019 £ (162,903)
		445,493 -
		445,493

Financial review of the position at the reporting date, 31 August 2020 .

Total gross income for the College this year is £496,095 (2019: £368,523). Total income is made up of charitable trading activities amounting to £167,710 and voluntary income of £428,385. Total expenditure for the year was £521,046. Net income/(deficit) for the year is (£24,951) (2019: (£162,903)). Total funds at the year-end were £420,452 (2019: £445,493).

At the year-end, the College had £86,388 funds in the bank after repayment of loans. The College needs to maintain £110,000 reserve for 6 months of expenditure. Since the year-end the College has raised funds to meet the reserve requirements.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Policies on reserves.

Total gross income for the College this year is £496,095 (2019: £368,523). Total income is made up of charitable trading activities amounting to £167,710 and voluntary income of £428,385. Total expenditure for the year was £521,046. Net income/(deficit) for the year is (£24,951) (2019: (£162,903)). Total funds at the year-end were £420,452 (2019: £445,493).

At the year-end, the College had £86,388 funds in the bank after repayment of loans.

The College needs to maintain £110,000 reserve for 6 months of expenditure. Since the year-end the College has raised funds to meet the reserve requirements.

The college had free unrestricted reserves of approximately £417k (2019 £446k). The anticipated spending for the coming six months is expected to be £130k. The college reserves exceed the six month's spending by £287k. The college's funds are tied up in properties with a book value of approximately £2.1 million which the trustees consider are very important for the college's long term sustainability. The college has liabilities of approximately £1.78 million for which the trustees are working hard to raise funds through fundraising campaigns specifically targeted at raising funds to repay these liabilities. The excess of reserves is held to repay these liabilities.

The major risks to which the Charity is exposed and reviews and systems to mitigate them.

Dependence on Voluntary Income

Last year voluntary income contributed to about 71% of the income. This year it has come down to 59%. This is due to the College is diversifying its charitable activities to include a variety of courses to cater for different audiences. Moreover, it is increasing its efforts on marketing to publicise its offering more widely through recruiting professional marketing staff and more volunteers. We look forward to reducing this dependency even further next year.

Short-Term Creditors

The ratio of short-term creditors has remained similar to last year. However there is still some risk for the College as the College would be required to repay these creditors at short notice. These creditors represent those who have advanced interest-free soft loans to the College. Some of whom have converted their loans to donations and others who have shown willingness to extend the loan period if required. The College is seeking to reduce short-term creditors by a combination of following strategies: (a) seeking to extend the loan period and convert them to long-term loans, (b) repay some of the loans through the income generated by voluntary income and charitable activities, and (c) work with the newly explored charitable foundations to seek funding to repay some of the short term loans.

COVID Pandemic - arising after 31st August 2019

The current pandemic has adversely affected the operations and finances of the College. Fundraising activities and revenue generating onsite courses had to be suspended because of the lockdown and ongoing restrictions. We furloughed some staff to reduce expenditure and terminated permanent contracts at the end of the current academic year. We have suspended full-time onsite courses for one year to review the situation.

However, the pandemic has also opened new avenues to expand our online offerings. We are currently working with digital marketing professionals both locally and overseas to tap into new markets. We are also developing new online courses and upgrading our online platforms. We plan to compensate for the lost revenues from onsite courses and fundraising activities via revenues from online offerings. In addition to that we are also launching digital fundraising campaigns to bring in extra revenue.

Details of The Independent Examiner

Peter Brown FCCA,FCIE,DChA

Chartered Certified Accountant, Acomb Grange, Grange Laen, York , YO23 3QZ

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

Statement of the Directors' and Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018), (The SORP),

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

• to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). - select suitable accounting policies and apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

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Cambridge Islamic College

Company Registration Number - 08663526

Trustees' Annual Report for the year ended 31 August 2020

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 14 to 33.

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 30th September 2020

Zafar Ahmed Kurnool Director and Trustee

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Cambridge Islamic College

Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 August 2020

I report to the Trustees on my examination of the financial statements of the charitable company on pages 14 to 33 for the year ended 31 August 2020 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 19.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described on page 10, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner's Statement and scope of work undertaken

Since the charitable company's gross income exceeded £250,000, the charitable company's examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am an authorised member of insert the type of the professional body (eg Chartered Certified Accountants or Chartered Accountants etc ) on data sheet row 33, which is one of the listed bodies.

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

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Cambridge Islamic College

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;

The gross income of the charitable company in the year ended 31 August 2020 appears to exceed the sum specified in Section 145(3) of the Act, namely £250000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of insert the type of the professional body (eg Chartered Certified Accountants or Chartered Accountants etc ) on data sheet row 33;

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in 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;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP).

We have examined documentation supplied by the trustees relating to remuneration paid to a trustee, and the Trustees intend contacting the Charity Commission for England & Wales for confirmation that the payments have lawfully been made. Such payments have been included in the acocunts on the assumption they are lawful and no adjustment has been made for any decision to the contrary that may be made in the future by the Charity Commission for England & Wales.

I 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 financial statements to be reached.

Signed:-

Peter Brown FCCA,DChA Chartered Certified Accountant Acomb Grange Grange Lane York, YO23 3QZ This report was signed on 30 October 2021

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Cambridge Islamic College - Statement of Financial Activities for the year ended 31 August 2020

Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 August 2020, as required by the Companies Act 2006)

Current year Unrestricted Funds 2020 £ Income & Endowments from: Donations & Legacies A1 279,935 Charitable activities A2 167,710 Other trading activities A3 - Total income A 447,645 Expenditure on: Raising funds B1 - Charitable activities B2 500,724 Total expenditure B 500,724 Net expenditure for the year (53,079) Transfers between funds C 24,863 Net income after transfers A-B-C (28,216) (28,216) Reconciliation of funds:- E Total funds brought forward 445,491 Total funds carried forward 417,275 Net movement in funds SORP Ref	Current year Unrestricted Funds 2020 £ 279,935 167,710 -	Current year Restricted Funds 2020 £ 48,450 - -	Current year Total Funds 2020 £ 328,385 167,710 - 496,095 - 521,046 521,046 (24,951) - (24,951) (24,951) 445,491 420,540	Prior Year Total Funds 2019 £ 262,479 103,301 2,743
	447,645	48,450		368,523
	- 500,724	- 20,322		216 531,210
	500,724	20,322		531,426
	(53,079) 24,863	28,128 (24,863)		(162,903) -
		3,265		(162,903)
	(28,216) 445,491	3,265 -		(162,903) 608,394
	417,275	3,265		445,491

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All activities derive from continuing operations

The notes attached on pages 19 to 33 form an integral part of these accounts.

14

Cambridge Islamic College - Statement of Financial Activities for the year ended 31 August 2020

Cambridge Islamic College - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP

Income from: Donations & Legacies A1 Charitable activities A2 Other trading activities A3 Total income A Expenditure on: Raising funds B1 Charitable activities B2 Total expenditure B Net expenditure for the year Net income after transfers Reconciliation of funds:- E Total funds brought forward Total funds carried forward Net movement in funds SORP Ref	Prior Year Unrestricted Funds 2019 £ 238,428 103,301 2,743	Prior Year Restricted Funds 2019 £ 24,051 - -	Prior Year Total Funds 2019 £ 262,479 103,301 2,743 368,523 216 531,210 531,426 (162,903) (162,903) (162,903) 608,394
	344,472	24,051
	216 531,210	- -
	531,426	-
	(186,954)	24,051
	(186,954)	24,051
	(186,954) 607,582	24,051 812
	420,628	24,863	445,491

All activities derive from continuing operations

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.'

The notes attached on pages 19 to 33 form an integral part of these accounts.

15

Cambridge Islamic College - Statement of Financial Activities for the year ended 31 August 2020

Cambridge Islamic College - Resources applied in the year ended 31 August 2020 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Net resources available to fund charitable activities	2020 £ (24,951) (270,272) (295,223)	2019 £ (162,903) (11,287)
		(174,190)

The resources applied on fixed assets for charity use represents the cost of additions.

Movements in revenue and capital funds for the year ended 31 August 2020

Revenue accumulated funds

Unrestricted Restricted Funds Funds 2020 2020 £ £ Accumulated funds brought forward 445,493 - (53,079) 28,128 392,414 28,128 (From)/To unrestricted revenue funds 24,863 (24,863) Closing revenue funds 417,277 3,265 Summary of funds Unrestricted Restricted and Funds Designated funds 2020 2020 £ £ Revenue accumulated funds 417,277 3,265 Recognised gains and losses before transfers	Unrestricted Funds 2020 £ 445,493 (53,079)	Restricted Funds 2020 £ - 28,128	Total Funds 2020 £ 445,493 (24,951) 420,542 - 420,542 Total Funds 2020 £ 420,542	Last year Total Funds 2019 £ 608,396 (162,903)
	392,414 24,863	28,128 (24,863)		445,493 -
	417,277	3,265		445,493
				Last Year Total Funds 2019 £ 445,493

The notes attached on pages 19 to 33 form an integral part of these accounts.

16

Cambridge Islamic College - Statement of Financial Activities for the year ended 31 August 2020

Cambridge Islamic College

Income and Expenditure Account for the year ended 31 August 2020 as required by the Companies Act 2006

Income Income from operations Gift aid donations received from subsidiiary undertaking Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Interest payable Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income before tax in the financial year Investment income and interest Net income after tax in the financial year	2020 £ 496,095 - 496,095 496,095 424,747 46,623 - 630 49,045 - 521,045 (24,950) - (24,950) (24,950)	2019 £ 363,523 5,000
		368,523
		368,523
		426,554 41,155 216 45,600 17,901 -
		531,426
		(162,903) -
		(162,903)
		(162,903)

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 19 to 33 form an integral part of these accounts.

17

Cambridge Islamic College - Balance Sheet as at 31 August 2020

		SORP
	Note	Ref		2020		2019
				£		£
Fixed assets		A
Tangible assets	12	A2		2,116,964		1,893,315
Current assets		B
Debtors	13	B2	3,075		-
Cash at bank and in hand		B4	86,388		1,340
Total current assets			89,463		1,340
Creditors: amounts falling due within
one year	14	C1	(392,853)		(502,825)
Net current liabilities				(303,390)		(501,485)
Total assets less current liabilities				1,813,574		1,391,830
Creditors: amounts falling due after more
than one year	15	C2		(1,393,032)		(946,337)
The total net assets of the charity				420,542		445,493
The total net assets of the charity are funded		by the	funds of the	charity, as follows:-
Restricted funds
Restricted Revenue Funds	20	D2		3,265		-
Unrestricted Funds
Unrestricted Revenue Funds	20	D3		417,277		445,493
Total charity funds				420,542		445,493

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 13.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Zafar Ahmed Kurnool Trustee Approved by the board of trustees on 30 October 2021

The notes attached on pages 19 to 33 form an integral part of these accounts.

18

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice

Going Concern

The accounts show net current liabilities at the year-end of £502,775 (2018: £153,169). However since then, in the year to 31st August 2020, the College has repaid £42,315 of the existing short-term bank loans and has continued to raise funds for the purposes of repaying loans. In addition, of the current liabilities,£31,236 (2018- £36,844) relate to payments in advance for course fees which by the time these accounts were approved, had been delivered and the funds taken to the Statement of Financial Activities in the year ended 31st August 2020.

A surplus for the year ended 31 August 2020 is expected from charitable activities. Moreover, the College has successfully launched its full-time residential programmes and launched DEEPDEEN.TV. These initiatives will hopefully sufficient funds for the college in the coming years through donations and tuition fees. combined with rental income from the house the outlook into 2020 looks positive.

Because of the matters described above the Trustees believe that it is appropriate to continue to adopt the going concern basis in preparing these accounts.

Public Benefit

The charity is a public benefit entity.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of Income

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

19

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Accounting for deferred income and income received in advance

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

Donated goods, facilities and services

Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity.

All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

20

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

Allocating costs to activities

Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :-

Staffing - on the basis of time spent in connection with any particular activity. Staffing - on a per capita basis, based on the number of of people employed within any partiular activity. Premises related costs - on the proportion of floor area occupied by a particular activity.

Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures

Estimation techniques used in apportioning costs - give details

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note7.

The Strategic leadership, Senior management and IT infrastructure for the college are run solely by the trustees. These jobs require a high level of experience, qualification and serious commitment. The trustees believe that these services do not fall under general volunteer services and the college can not run the way it is running without them. In relation to these volunteers, the charity has therefore adopted the guidance set out in paragraphs 6.14, and 6.15 of the SORP and has measured the value to the Charity as the amount that the Charity would pay in the open market for an alternative item that would provide a benefit to the charity equivalent to the donated item.

In relation to other volunteers, the charity has followed the guidance in 6.18 and 6.19 of the SORP and has placed no notional value on the services provided.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over estimated useful lives.

Freehold premises 2 % straight line Plant and machinery 33.33 % straight line

A regular annual review of the likelihood of asset impairment is undertaken.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Creditors and provisions

Creditors are measured at their payable amounts at the balance sheet date.

21

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

Financial instruments including cash and bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements. There are no other financial instruments.

Pensions - defined contribution schemes

The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Significance of financial instruments to the charity's position

There are no significant implications of financial instruments for the financial well being of the charity.

5 Net (deficit)/surplus before tax in the financial year

Net (deficit)/surplus before tax in the financial year
	2020	2019
	£	£
The net deficit before tax in the financial year is stated after charging:-
Depreciation of owned fixed assets	46,623	41,155
Trustees' remuneration	27,750	16,300
Pension costs	2,064	1,809

22

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

6 Interest payable Loan interest Bank interest payable	2020 £ 23,313 25,732	2019 £ - 17,901
	49,045	17,901

7 The contribution of volunteers

The charity depends on the support of its volunteers, especially its trustees, which is much appreciated. One trustee is a full-time Executive Director. One trustee acts for a minimum of 4 days a week as Manager and Course Coordinator . One trustee acts for 2 days per week as an IT Consultant.

These people have worked in highly paid jobs in industry which they have left or scaled down to free themselves for the college. The amount the charity would expect to pay to provide an equivalent benefit in respect of these trustee volunteers is as set out in note 23.

The volunteers and the charity accept and agree that no contract of employment is created by these arrangements..

8 Staff costs and emoluments Salary costs 2020 £ Gross Salaries excluding trustees and key management personnel 94,206 Employer's National Insurance for all staff 2,958 2,064 Total salaries, wages and related costs 99,228 Numbers of full time employees or full time equivalents 2020 The average number of total staff employed in the year was 6 The estimated equivalent number of full time staff deployed in different activities in the year was:- Engaged on charitable activities 2 Engaged on management and administration 3 The estimated full time equivalent number of all staff employed as above 2 Employer's operating costs of defined contribution pension schemes	2020 £ 94,206 2,958 2,064	2019 £ 83,334 2,136 1,809
	99,228	87,279
	2020 6	2019 2
		2 -
	2	1

No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.

23

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

9 Defined contribution pension schemes

The charity operates a defined contribution pension scheme, the costs of which are shown above.

Due to an administrative oversight, employer's and employees' contibutions under defined contribution benefit schemes owing for more than one month at 31st August 2019 were £3,222. These were paid in full on 30th September 2019 and are included in trade creditors.

Committments under the scheme for the year ahead are shown in note 16

Any liabilites and assets associated with the scheme are shown under debtors and creditors.

10 Remuneration and payments to Trustees and persons connected with them

Remuneration payable to trustees or connected persons Dr Akram Nadwi Total remuneration	2020 £ 27,750	2019 £ 16,300
	27,750	16,300

The Charity is permitted by its Articles to make such payments and the Trustees are satisfied that the procedures to legitimise the payments have been properly followed. However, the Trustees intend contacting the Charity Commission for England & Wales for confirmation that the payments have lawfully been made. Such payments have been included in the acocunts on the assumption they are lawful and no adjustment has been made for any decision to the contrary that may be made in the future by the Charity Commission for England & Wales.

11 Deferred income - Unrestricted and Designated funds

Payment for courses in advance Total These deferrals are included in creditors	Opening Deferrals £ 31,236	Released Received from prior less released years in year £ £ (36,844) 16,997	Deferred at year end £ 11,389
	31,236	(36,844) 16,997	11,389
		2020 £ 11,389	2019 £ 31,236

The deferrals included in creditors relate to course payments in advance relating to specific periods and represent those parts of unrestricted funds which relate to periods subsequent to the accounting year end.

24

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

12 Tangible fixed assets

Land and Buildings Plant & Machinery £ £ Cost At 1 September 2019 2,057,738 24,074 Additions 270,000 272 At 31 August 2020 2,327,738 24,346 Depreciation At 1 September 2019 164,425 24,072 Charge for the year 46,555 68 At 31 August 2020 210,980 24,140 Net book value At 31 August 2020 2,116,758 206 At 31 August 2019 1,893,313 2 All assets are used for direct charitable purposes. The freehold land and buildings are held as security in relation to a bank loan.	Land and Buildings Plant & Machinery £ £ 2,057,738 24,074 270,000 272	Total £ 2,081,812 270,272
	2,327,738 24,346	2,352,084
	164,425 24,072 46,555 68	188,497 46,623
	210,980 24,140	235,120
	2,116,758 206	2,116,964
	1,893,313 2	1,893,315

13 Debtors

13 Debtors
Other debtors 14 Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Accruals Deferred Income - Unrestricted & designated funds PAYE, NIC VAT and other taxes Unsecured private loans	2020 £ 3,075	2019 £ -
	2020 £ 52,792 42,474 2,050 11,389 2,182 281,966	2019 £ 53,968 35,062 5,460 31,236 6,593 370,506
	392,853	502,825

The bank loans are secured over the charity's freehold properties at an interest rate of 2.44%. Repayment is over a period of 15 years from 2015.

25

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

15 Creditors: amounts falling due after one year

es to the Accounts for the year ended 31 August 2020
Creditors: amounts falling due after one year Bank loans and overdrafts Unsecured private loans	2020 £ 565,948 827,084	2019 £ 544,778 401,559
	1,393,032	946,337

The bank loans are secured over the charity's freehold properties at an interest rate of 2.44%. Repayment is over a period of 15 years from 2015. The unsecured loans include loans from trustees, Mohammad Javed £5010, (2019 - nil)), Zafar Ahmed Kurnool, £22,100 (2018 £22,100) and Mohammed Akram Nadwi of £nil (2019 - £19,000).

16 Pension commitments

Pension commitments under defined benefit/defined contribution schemes within one year 17 Income and Expenditure account summary At 1 September 2019 Loss after tax for the year At 31 August 2020	2020 £ 540	2019 £ 3,762
	540	3,762
	2020 £ 445,491 (24,950)	2019 £ 608,394 (162,903)
	420,541	445,491

18 Related party transactions

Unsecured loans from trustees are itemised above in unsecured private loans.

The charity has received management and professional services from three trustees (2019 - three) who have not been paid for their time worked. It is estimated that if this time was sourced from elsewhere it would cost £138,000. These costs have been included within donated services as income and within the costs of raising funds in these accounts. The same amounts were included in the prior year figures.

These amounts are based on a salary for Mohammed Faisal of £60,000 (2019- £60,000), for Zafar Ahmed of £60,000 (2019 - £60,000), and Awais Ahmed of £18,000 (2019 - £18,000). The trustees are involved in the management of the charity as well as providing specialised professional services in marketing, videography, IT, software development, product (course) development, event management, fundraising, estate management, public relations,procurement, HR, student support and finance.

Related party transactions (continued)

Included within fixed assets are land and buildings at 56 Sturton Street Cambridge, CB1 2QA with a net book value of £674.714 (2019- £688,484), which is registered in the names of Mohammed Faisal Khaffar, Awais Ahmed Awan and Zafar Ahmed Kurnool who hold the property as custodian trustees on behalf of Cambridge Islamic College.

One of the founders of the College, Dr Mohammad Akram became a trustee on 19 January 2019. His lecturing service charges during the year were £27,750 (2019 - £26,300) out of which £25,250 (2019- £12,000) were outstanding on 31 August 2020. His Lecturing service charges after becoming a trustee were £16,300. Dr Mohammad Akram has been teaching in the college Since August 2015 when the college was founded.

26

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

19 Particulars of how particular funds are represented by assets and liabilities

At 31 August 2020 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities At 1 September 2019 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities	Unrestricted funds £ 2,116,964 86,198 (392,853) (1,393,032)	Designated Restricted funds funds £ £ - - 3,265 - - - -	Total Funds £ 2,116,964 89,463 (392,853) (1,393,032)
	417,277	- 3,265	420,542
	Unrestricted funds £ 1,893,315 1,340 (502,825) (946,337)	Designated Restricted funds funds £ £ - - - - - - - -	Total Funds £ 1,893,315 1,340 (502,825) (946,337)
	445,493	- -	445,493

20 Change in total funds over the year as shown in Note 19 , analysed by individual funds

Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Restricted funds:- Property repayment fund Total restricted funds Total charity funds	£ 445,493 Funds brought forward from 2019	See Note 21 £ £ (53,079) 24,863 Movement in funds in 2020 Transfers between funds in 2020	£ 417,277 Funds carried forward to 2021
	445,493	(53,079) 24,863	417,277
	-	28,128 (24,863)	3,265
	-	28,128 (24,863)	3,265
	445,493	(24,951) -	420,542

21 Analysis of movements in funds over the year as shown in Note 20

Unrestricted and designated funds:- Unrestricted Revenue Funds Restricted funds:- Property repayment fund HMRC - COVID Job Support grants	Income 2020 £ 447,645 28,128 20,322	Other Expenditure Gains & Losses 2020 2020 £ £ (500,724) - - - (20,322) -	Movement in funds 2020 £ (53,079) 28,128 -
	496,095	(521,046) -	(24,951)

27

Cambridge Islamic College

Notes to the Accounts for the year ended 31 August 2020

22 The purposes for which the funds as detailed in note 20 are held by the charity are:-

Unrestricted and designated funds:-

Unrestricted Revenue Funds

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.

Restricted funds:-

Property repayment fund

This represents funds donated under Zakat whereby every Muslim having about £3000 in savings is required to donate 2.5% of his wealth for charitable causes. The funds are to be used for the purposes of repaying loans borrowed for the property purchase.

In the current year, £24,863 of these funds were used to repay part of the property loans. As these funds have been utilised for their restricted purposes, an amount of £24,863 was accordingly transferred from restricted to unrestricted funds.

23 Ultimate controlling party

The charity is under the control of its legal members who are the trustees in office from time to time.

Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

28

Cambridge Islamic College

Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

24 Donations and Legacies Current year Unrestricted Funds 2020 £ Donations and gifts from individuals 112,160 HMRC Gift Aid refunds 3,075 - Ruhina Shah - Ammar Khan 10,150 Javid Mohammad (Yusuf) Dr I M Saraf - CR 1,200 Javid Mohammad (Yusuf) - Nassiba Benabdelhafi - Dr Zia - Rafique Ahmed - - Mohamed Naveed - Sadiq Basha - Zafar Kurnool 4,000 Fahad Gilani 1,750 Sheikh And Shaik 1,500 Aijaz Ahmed 1,000 Zain Green Thompson 1,000 Imran Akram 1,000 Musharraf Khan 1,000 Niaz Ahmed 1,000 Omar Taha 1,000 Sorwer Sfi 1,000 Razeen Mahroof (Zakat) - Musahrraf Khan (Zakat) - 140,835 Revenue grants from government and public bodies - - Small individual donations of £1,000 or less Total public sector revenue grants Mozammal Mullick Hamza Fawzi HMRC - COVID Job Support grants Total donations and gifts from individuals	Current year Unrestricted Funds 2020 £ 112,160 3,075 - - 10,150 1,200 - - - - - - - 4,000 1,750 1,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 - -	Current year Restricted Funds 2020 £ 28,128 - - - - - - - - - - - - - - - - - - - - - - -	Current year Total Funds 2020 £ 140,288 3,075 - - 10,150 - 1,200 - - - - - - - 4,000 1,750 1,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 - - 168,963 20,322 20,322	Prior Year Total Funds 2019 £ 75,955 - 5,000 5,000 5,000 5,000 5,000 5,000 2,500 2,500 2,274 2,250 4,000 2,000 - - - - - - - - - - 1,500 1,500
	140,835	28,128		124,479
		20,322		-
	-	20,322		-

29

Cambridge Islamic College

Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015

Revenue grants and donations from non public bodies

1,100 1,100 Notional income from volunteers 138,000 138,000 Total Donations and Legacies A1 279,935 25 Income from charitable activities - Trading Activities Current year Unrestricted Funds 2020 £ Primary purpose and ancillary trading 116,666 1,031 50,013 - 167,710 26 Current year Unrestricted Funds £ 2020 Total income from charitable trading 167,710 Total from charitable activities A2 167,710 Course fees and diplomas Sale of goods and services in accordance with the charity's objects HMRC Gift Aid refunds Letting of property for charitable purposes Total Notional income from volunteers Notional income from volunteers (see note 7) Total Primary purpose and ancillary trading Total private sector revenue grants Ar-Rahmat Limited Total Income from charitable activities	1,100	-	1,100 1,100 138,000 138,000 328,385 Current year Total Funds 2020 £ 116,666 1,031 50,013 - 167,710 Current year Total Funds £ 2020 167,710 167,710	-
	1,100	-		-
	138,000	-		138,000
	138,000	-		138,000
	279,935	48,450		262,479
		Current year Restricted Funds 2020 £ - - - -		Prior Year Total Funds 2019 £ 94,979 2,206 - 6,116
	167,710	-		103,301
	Current year Unrestricted Funds £ 2020 167,710	Current year Restricted Funds £ 2020 -		Prior Year Total Funds £ 2019 103,301
		-		103,301

30

Cambridge Islamic College

Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015

27 Income from other, non charitable, trading activities

Total from other activities A3 Income from fundraising	Current year Unrestricted Funds 2020 £ -	Current year Restricted Funds 2020 £ -	Current year Total Funds 2020 £ - -	Prior Year Total Funds 2019 £ 2,743
	-	-		2,743

28 Expenditure on charitable activities - Direct spending

Current year Unrestricted Funds 2020 £ 73,885 2,958 2,064 1,448 43,878 425 32 - 62,770 Total direct spending B2a 187,460 Gross wages and salaries - charitable activities Employers' NI - Charitable activities Costs of courses and diplomas Consultants fees Direct costs of charitable activities Defined contribution pension costs - charitable activities Travel and Subsistence - Charitable Activities Purchase of books Marketing and advertising of charitable services	Current year Unrestricted Funds 2020 £ 73,885 2,958 2,064 1,448 43,878 425 32 - 62,770	Current year Restricted Funds 2020 £ 20,322 - - - - - - - -	Current year Total Funds 2020 £ 94,206 2,958 2,064 1,448 43,878 425 32 - 62,770 207,781	Prior Year Total Funds 2019 £ 83,334 2,136 1,809 - - 890 30,135 97,845 -
		20,322		216,149

29 Expenditure on charitable activities - Charitable trading

Current year Unrestricted Funds 2020 £ - Total charitable trading costs B2b - Marketing and advertising of primary purpose trading	Current year Unrestricted Funds 2020 £ -	Current year Current year Prior Year Restricted Funds Total Funds Total Funds 2020 2020 2019 £ £ £ - - 29,526
		- - 29,526

31

Cambridge Islamic College

Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015

30 Support costs for charitable activities

30 Support costs for charitable activities	30 Support costs for charitable activities	30 Support costs for charitable activities
Current year Current year Current year Unrestricted Funds Restricted Funds Total Funds 2020 2020 2020 £ £ £ Premises Expenses 4,496 - 4,496 9,456 - 9,456 1,562 - 1,562 1,510 - 1,510 408 - 408 2,169 - 2,169 - - - Administrative overheads Notional expenditure on volunteers (see note 7) 138,000 - 138,000 1,405 - 1,405 273 - 273 465 - 465 16,019 - 16,019 999 - 999 Professional fees paid to advisors other than the auditor or examiner - - - 34,759 - 34,759 HR Consultancy fees 2,079.00 - 2,079 - - - 55 - 55 Financial costs 2,131 - 2,131 1,180 - 1,180 23,313 - 23,313 46,623 - 46,623 25,732 - 25,732 Support costs before reallocation 312,634 - 312,634 Total support costs 312,634 - 312,634 The basis of allocation of costs between activities is described under accounting policies Paypal and Just Giving fees Accountancy fees other than examination or audit fees Rates and water charges Gardening Stationery and printing Postage, Freight and Courier charges Property insurance Council tax for student residents Premises repairs, renewals and maintenance Telephone, fax and internet Depreciation & Amortisation in total Bank charges Light heat and power Cleaning and waste management Support costs for charitable activities (continued) Bank interest payable Companies House fees Loan interest Legal fees Companies House fine Sundry expenses IT Software and consumables			Current year Total Funds 2020 £ 4,496 9,456 1,562 1,510 408 2,169 - 138,000 1,405 273 465 16,019 999 - 34,759 2,079 - 55 2,131 1,180 23,313 46,623 25,732	Prior Year Total Funds 2019 £ 10,492 8,599 2,846 1,960 100 2,686 3,195 138,000 1,191 410 1,342 5,533 12 1,210 - - 39 - 2,905 359 - 41,155 17,901
	312,634	-		239,935
	312,634	-		239,935

32

Cambridge Islamic College

Detailed analysis of income and expenditure for the year ended 31 August 2020 as required by the SORP 2015

31 Other Expenditure - Governance costs

Other Expenditure - Governance costs
Independent Examiner's fees Legal fees and costs on governance matters Total Governance costs	Current year Unrestricted Funds 2020 £ 630 -	Current year Restricted Funds 2020 £ - -	Current year Total Funds 2020 £ 630 - 630	Prior Year Total Funds 2019 £ 600 45,000
	630	-		45,600

32 Total Charitable expenditure

Total Charitable expenditure	Total Charitable expenditure
Current year Unrestricted Funds 2020 £ Total direct spending B2a 187,460 Total charitable trading costs B2b - Total support costs B2d 312,634 Total Governance costs B2e 630 Total charitable expenditure B2 500,724		Current year Current year Prior Year Restricted Funds Total Funds Total Funds 2020 2020 2019 £ £ £ 20,322 207,781 216,149 - - 29,526 - 312,634 239,935 - 630 45,600
	500,724	20,322 521,045 531,210

33 Expenditure on raising funds and costs of investment management

Commissions payable Total fundraising costs B1	Current year Unrestricted Funds 2020 £ -	Current year Current year Prior Year Restricted Funds Total Funds Total Funds 2020 2020 2019 £ £ £ - - 216
	-	- - 216

33