LEICESTER MARKAZ TRUST Accounts 31st March 2024 Chanty Number.. 1163994 Leicester Markaz Trust Charity Registered number: Trustees, Report 1163994 The Iruslees present their annual report and financial statements covering the year to 31st Maich 2024. The Iruslees have adapted the. provision of ihe Stalemenl of Recommended Pra¢tise ISORPI 'Accounting and Reporting by Charit￿$. (FRS 102) in preparing the annual report and financial statement of the charity. Name, Registered offi¢• and Constitution of The Company The full name of the Charity is Leicester Markaz Trust. The charity was registe￿d as a charity on 15th October 2015. The charity is also known 'Masjid Usman.. The principal aclivty of the charity is carried out al 162. Nedham Street, Leicesler. LE2 OHB. The propety was purchased in 1990 principally from Cdlections and donations from the residents of Leicesler. The present senior Iruslees have continuously managed the trust from commencement. During 1996 the trust purchased an investment propety in order to earn a continuous stream of incomes lo Contribute lo the Irusl's overheads. Obje¢tiV0519eneral activities The organisalion's principal objectives are.. -The advancement and propagation of Islam for Ihe public benefit in accordance in with the tenets and doctrines of Ahlus Sunnah Wal Jammat Iprinciples sel out by the Deobandi group). To advance the education of Ihe public in general on matters relatiTr3 to Islam. Bringing people closer to Iheir Creator. Educating people to become responsible citrlens and to make posilive eontribulions lo society. In aiming lo fulfil the above objectives the following activitieslevenls have tsken place over the course of the year.. Praygrs Comfortable facililies are provided and maintsined for V*rJrshippers lo perfomi ablution and perform their five time prayers. The charity facilitates to provide five limes prayer with congregation. 9iving an opportunity lo the members of Ihe public lo fulfil one of the b￿gest tenets in Islam in a dignified and benevolent manner. The number of worshippws are constantly increasing. Contemplation The facilities of Masjid Usman {Leicesler Mathaz Trusll are open lo the public on a daily basis for 365 days of the year for up to 18 hours of the day. This allows the public to come .reflect and conlemplale over one's actions in thi5 lrfe in a tranquil and serene environment. It also provides an opp)rtunity to members of the public to repent over one's sins and re¢ognise one's creator. Counselling. Advi¢e and Guidance Masjid Usman ILMTI employs a full lime imam who is on hand throughout the day lo advice, support and proV￿e counselling for those who may be suffering from anxiety, depression ,bereavement. marital difficulties. drugs and alcohol related issues. The imam provides counselling and advi￿ for those members of the public who may need it. The wnam is also on hand to piovide guidance and educate the public in religious matters. Lectureslseminars There are weekly lectu￿5 on Thursday nights which encourage worshippers to become Muslims who cognise their creator fulfil his commandments folh)w the teachings of the prophet Muhammed Isawl. leam 151am from the right sources and develop good charactei and morals . A Muslim that has compassion for the crealion is a good cilrLen in so¢iety . tolerant of others and their beliefs and one who is conscious of the creator and the hereafter. The persons attending on Thursday come from all over the Midlands area and from all backgrounds. Lelcester Markaz Trust Charity Registered number: Trustees. Report 1163994 Speclal Events Like la51 yeai, the charity continued lo arrange special events lo address issues faced by different denominations of society with an aim lo ¢reale links to help and support each other and the wider ommunity .The events were arranged for the following.. The Youth - tackling issues relating lo drugs. afcohol.smoking. CSE. grooming, knives and weapons, refomialion and spiritual development University Studen15 Welcoming, supporting. housing, support services. A welcoming function is organised in September l October and there is support for sludenls throughout the Academic Year. Professionals- creating links to help the wider ￿MMunity Refugees and Asylum seekers ¢reating links with refugees, making them feel wekome lo the community and assistin9 them in their needs. Regional Hub Masjid Usman (LMT) acts as a regional hub for mosques in the East Midlands. This creates bonds with the mosques in the East Midlands_' develops out-reach programs from each mosque in lo the various communities and provides advice for volunteers in the various mosques. Publi¢ Benefit The Iruslees believe that Ihe organisalion satisfies the requirements of sed￿n 17 of the Charities Act 2011 regarding public benefrt because the general community benefts from the organisalion's activities. Management Structur¢ The charity's Iruslees for the period from 1st Apr￿ 2023 to the dale of this rekM)rt are as follows '_ Mr Suleman Omatii Makadam Mr Ahmed Issal Mr Mahmood Ghodawala Mr Mohamed Ibrahim Patel Mr Shoaib Khan The day-l04ay operations of the OTganisation has been enlwsled to the trustees, who meet on a daily basis. None of the trustees are ￿mUnerated. The organisalion also use the services of many volunteers. Flxed Assets Although the or9anisalion was registered at the Chafities Commission in October 2015 the Irust had been operating for many years Prior lo registrat￿n. The charity own5 two freehold premises." one situated at 162. Nedham Street, Leicester. LE2 OHB which is functional and where nearly all the charitls actiwties are carried out.. and the other situated al Hart Road, Leicesler,LE2 .which is the investment property. Both ol the properties are free from any loans or mortgages and slated al the trustees, valLtralion. The Iruslees believe that the charit￿$ fixed assets are sufficient to rneet the objectives, therefore, there were no expenditures during the year. Leicester Markaz Trust Charity Registered number: Trustees. Report 1163994 Financial ResultslReserves Dufing the year there was a small increase in ihe col*tions and donalK)ns compared lo the previous year. Due lo the considerable increase in the lighvheal costs. the charity's nel incoming resources fell from £25,671 10 £21.253.The charivs liquid funds al 31st March 2024 were in excess of £245,OTrJ whieh is more Ihan sufficient to meet the day-t(Hlay operaling expenses for at least four years. Grant-making and Investment Policies The eharity does not normally make any gr2nls. Apart from the inveslmenl propety the company's only investment at 31 sl March 2024 wa5 the short-lerm deposit account. Professional Servlces During the year lo 31 st March 2024 the company ulilised the se￿iceS from the followng-_ Bankers Nal West Bank plc, Sanlander Bank and Al-Rayan Bank . Leiceslef Accountants - Crystal Business Services Limited, Chartered Accountants . Coventry This rep approved by the thariWs trustees on 18th January 2025. Name... Leicester Markaz Trust Charity Registered number . 1163994 Independent Examinef s Report to the Leicester Markaz Trust I report on the accounts of the charity for the year ended 31st March 2024 which are set out on pages Sto9. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the ac￿Unts in accordance wlh the requirements of the Charities Act 20111.the Act'l. I report in respect of my examination of the charitys accounts carfied out under section 145 of the Act and in carrying out my examination I have followed all the applicable Direckn'orss gwen by the Charity Commission under section 145151(b} of the Act Independent exarninerfs statement I have completed my examinalion. l ¢onfinn that no material matters have come lo my attention in connection with the examination gNing me cause to believe Ihal in any material respect.. 1.accounling record5 were not kept in respect of the charty as required by section 130 of the Act.. or 2.the accounts do not accord with those records I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper undeislanding ol the accounts lo be reached. 18th January 2025 Mr Akbar Oedal Chartered Accountant (ICAEW) CRYSTAL BUSINESS SERVICES LTD Chartered Accountsnts 264 STONEY STANTON ROAD COVENTRY. CV1 4FP Leicester Markaz Trust ststement Of Financial Activities for the year ended 31st March 2024 Notes 2024 2023 INCOMING RESOURCES Donations and Collections Income from Propety 66,387 10.392 76.779 58.310 10,392 68,702 Invesknent Income - Profits earned 140 51 Total Incomlng resources 76.919 68,753 RESOURCES EXPENDEO Cost of Charitable Activities Salaries Telephone Rates Ceremonial Light and heat Pension Repairs and maintenance Insurance Depreciation Total resources expended 28,970 711 167 4.589 16.167 625 1.167 2.466 804 55.666 26.433 622 77 2,845 9,533 570 213 2.019 770 43,082 NET INCOMING RESOURCES 21.253 25,671 Fund Balances al 31st March 2023 891.320 865,649 Fund Balan¢es al 31st March 2024 912.573 891,320 - All of the activities are continuing - All of the funds are unrestricted. Leicester Markaz Trust Balance Sheet as at 31 March 2024 Notes 2024 2023 Fixed assets Tangible fixed assets Fixed asset investmentlfreehold property) 502.413 170,000 672.413 502,310 170,000 672.310 Current assets Prepayments Cash al bank and in hand 2.466 221,640 224,106 245.053 245,053 Creditors: amounts falling due within one year {4.8931 15,0961 Net current assets 240,160 219,010 Total assets less current liabilities 912,573 891,320 Net assets 912,573 891,320 Funds Unrestricted funds 912,573 891,320 912.573 891,320 -The trustees are satisfied that the trust is entitled io exemption from the requirement lo oblain an audil. -The Iru5tees acknowledge their responsibilities for complwng with the requirement5 of the Charilie5 Act 2011 with respecl to accounting records and the preparation of accounts. The financial slalements on pages 4 10 8 were approved and aulhorised for issue by the trustees on 18th January 2025. ..Name.. ..Name.. Leicester Markaz Trust Notes to the Accounts For The Period Ended 31st March 2024 1. Summary of significant accounting policies {al General information and basis of preparation Leicester Markaz Trust is a charity registered in England. The nature of the charty's operations and principal aclivitses are set out in the trustees. report. The charity constitutes a public benefrt entity as defined by FRS 102. The financial statements have been prepared in accordance with the Financial Reporting Standard applicabk in the United Kingdom and Republic of Ireland {FRS 102) and the Charib'es Act 2011. The financial stalemenls have been prepared to gNe a 'lrve and fai¢ view and have not departed from the Charities (keounls and Reports} Regulations 2008 in order to provide a 'true and fair vEw'. There charity is defined as small and, therefore. no cash fh)w statement is required. The financial slalemenls are prepared on a going concem basis under the historical cost convention. modified to inelude the freehold propethes at fair value. The f￿anCIal statements are presented in sterling which is the frjnctional currency of the charity. The significant aceounling policies applied in the preparation of these financial statements are set out below. These policies have been consislenty applied lo all years presented unless otherwise slated. Ibl Funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of the general objectives of the ¢harity and which have nol been deS￿nate(l for other purpose5. (c) Income recognltion All ineoming resources are included in the Statement of Financial Activf(ies ISOFAI when the charity is legally enlilled lo the income after any performance conditions have been met. the amount can be measured reliably and il is probable that the income wll be received. No amount is included in the financial statements for volunteer time in line wth the SORP {FRS 102)- Idl Expenditure recognltion l expenditure is accounted for on an a￿rualS basis and has been classif*d under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or eonslru¢tNe obligation to make payments to third parties, il is Pfobable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Expenditijre on charitable actNities. and other exFEndilure rewesents those items not falling into the categories above. Ir￿CoVerable VAT is charged as an expense against the acbvity for whth expenditure arose. le} Tangible fixed assets Tangible fixed assets are slated at cosl (of valuation) less accumulated depreciats.on and accumulated impairment losses. Cost includes costs directly attributabk to making the asset capable of operaling as intended Leicester Markaz Trust Notes to the Accounts For The Perfod Ended 31st March 2024 Deprecialion is provided on all tangible fixed assets, al rates calculated to wr¢le off the cost, less eslimaled residual value. of each asset on a syslemalic basis over its expected useful life as follows.. Freehold properties No depreciation provided Office furniture and equipment - 25% reducing balance lfj Investments The Charity's fixed assel investment propety is stated at the trustee5' valuation. Igl Debtors and creditors receivable I payable within one year Debtors and ciedilors with no slated interest rate and receivable or payable within one year are recorded al transaction price. Any losses arising from impairment are reco9nised in expenditure. Ihl Provisions Provisions are fecognised when Ihe charity has an obligat￿n at the balance sheet dale as a result of a past event. it is probable that an ouffiow of economic benefits wll be required in settlement and the amount can be rel￿blY estimated. til Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and 15 considered to pass the tests sel out in Paragraph 1 SchedLtle 6 FinaTr￿ Act 2010 and therefore it meets the definition of a charitable company for UK ¢orporation tax purrrt)ses. Ik) Going concern The financial stslements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expe¢led level of income and expenditvre for 12 months from authori5ing these financial slatemenls. The bLtdgeted income and expenditure is sufficient vrith the level of reserves for the charity to be able lo continue as a going concern. 111 Pensions Conthbutions lo defined contribution plan5 are expensed in the peric