OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

SALAM TRUST

REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

Company Registered No: 10009228 Charity Commission No: 1166526

SALAM TRUST

818 Alum Rock Road Birmingham B8 2TX

CONTENTS

Page
Charity information 1
Trustees' Report 2-3
Accountants' Report 4
Statement of Financial Activities 5
Income and Expenditure Account 6
Balance Sheet 7
Notes to the accounts 8-10

SALAM TRUST

SIGNIFICANT INFORMATION

Salam Trust is established as a company limited by guarantee (Company Registered No: 1000928).Charity Commission no 1166526. The affairs of the association are governed by its memorandum and articles of association. The liability of the members in the event of the Association being wound up is limited to a sum not exceeding £1.

DIRECTORS/TRUSTEES

Allah Ditta Akthar-Uz-Zaman Khalid Hussain

REGISTERED OFFICE

818 Alum Rock Road Birmingham B8 2TX

1

SALAM TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report for the period ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies on page 8 and comply with the charity's applicable law.

The charity was incorporated as a private company limited by guarantee on 17 February 2016

OBJECTS

The objects of the charity are to advance religion in accordance with the teachings of Islam. To advance education for the benefit for the poor, under privileged and general public. To advance education and promote the community participation in healthy recreation by providing facilities for playing particular sports. The building and maintenance of a mosque in particular but not exclusively for the benefit of the local and surrounding Muslim community in Birmingham.

ACTIVITIES AND PROGRESS

Salam Trust provides public benefit through its programmes of prayers and celebration of the key events in the Islamic Calendar. Activities are open to everyone in the community. The mosque also provides Congregational Prayers, Friday Sermons and Eid Prayers. During the year Salam Trust arranged Eid Prayers at local Ward End park for Muslims to attend the congregation. For younger children there are summer and winter schools during holiday period and evening classes. Trustees are also planing for the future to have facilities for homeless people in the community.

As the Covid rules relaxed during the period the association managed to raise more donations and collections from local community and the construction work for the buliding of the new mosque recommenced.

FINANCE

During the period the charity raised funds by collecting donations and interest free friendly loans from the community members.

TRUSTEES' RESPONSIBILITY FOR THE ACCOUNTS

Charity law requires the trustees of the Association to prepare statements of accounts for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing those financial statements, the trustees are required to :

2

SALAM TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022 (continued)

The trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity's transactions and to disclose with reasonable accuracy at any time the financial position of the Association, and to enable them to ensure that any statements of account comply with the requirements of the Charity (Accounts and Reports) Regulations 2000. They are also responsible for safeguarding the assets of the charity and taking reasonable steps fore the prevention and detection of fraud and other irregularities

COVID19 IMPACT

As with many organisations, we have been following Government Guidence since March 16[th] 2020 to minimise the risk to the public, our staff, volunteers and members. The impact on revenue is significant due to the risks and social distancing rules. Revenue from collection boxes was hit since the public have not had opportunity to visit retail shops where the boxes exist.

RISK MANAGEMENT

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the project , and are satisfied that systems are in place to mitigate our exposure to major risks.

RESERVES POLICY

The Reserve Fund represents unrestricted funds. The Trustees aim to maintain sufficient reserves so as to give flexibility to cover temporary timing differences for donations received, adequate working capital for core costs and which allow them to respond quickly to the needs of the Trust.

On behalf of the Managing Committee

..................................... Trustee K Hussain

14 January 2023

3

SALAM TRUST

Charity No: 1166526 . Company No: 10009228

Independent Examiner's Report to the Trustees of Salam Trust On accounts fro the year ended 31 March 2022

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022 which are set out on pages 5 to 10

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. 4 The accounts have not been prepared in accordance with Charities SORP (FRS 102)

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 accounts to be reached .

MAHMOOD AHED CHARTERED CERTIFIED ACCOUNTANT

784 Alum Rock Road Ward End Birmingham B8 2TE

14 January 2023

4

SALAM TRUST

Company Registered No: 10009228 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

2022
 2021
Income £ £
Unrestricted Unrestriced
Funds Funds
Donations and legacies
Donations received 149,558 39,145
CJRS Grant 4,433 38,878
Other income - 3,000
------------ -----------
Total incoming resources 153,991 81,023
======= ======
Charitable expenditure
Governance and support cost
Teachers fees 46,752 34,961
Pension cost 334 -
Rates and water 344
Insurance 745 707
Heat and light 5,222 1,769
Building repairs 865 -
Sundry expenses 227 150
Bank charges 471 180
----------- ------------
Total 54,960 37,767
====== =======
Net Incoming Resources for the year 99,031 43,256
Funds Balance brought forward 678,205 634,949
----------- ------------
Fund balance carried forward 777,236 678,205
======= =======

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities

The notes on pages 8 to 10 form part of these accounts

5

SALAM TRUST

Company Registered No: 10009228 INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes £
INCOME
Donations 2 149,558 39,145
CJRS Grant 4,433 38,878
Other income -- 3,000
----------- ------------
Gross Income 153,991 81,023
======= =======
EXPENDITURE
Governance and support cost 54,960 37,767
--------- -----------
Total expenditure 54,960 37,767
===== =======
Net Income for the year 99,031 43,256
Funds balance brought forward 678,205 634,949
---------- ------------
Funds balance carried forward 777,236 678,205
====== =======

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities, and the reported surplus was found under the historical cost convention.

The notes on page 8 to 10 form an integral part of these accounts.

6

SALAM TRUST

Company Registered No: 10009228 BALANCE SHEET AS AT 31 MARCH 2022

BALANCE SHEET
AS AT 31 MARCH 2022
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 629,176 629,176
------------ -------------
629,176 629,176
CURRENT ASSETS
Cash at bank and in hand 192,871 100,126
------------ -------------
CREDITORS:Amounts falling due
within one year 5 44,811 51,097
------------- -------------
TOTAL ASSETS LESS
CURRENT LIABILITIES 148,060 49,029
------------- ------------
TOTAL ASSETSLESS
CURRENT LIABILITIES 777,236 678,205
======== =======
FUNDS
General funds 6 777,236 678,205
------------- -------------
777,236 678,205
======== =======

For the period ended 31 March 2022 the charitable company was entitled to exemption from audit under subsection 1 of section 447 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP

Approved by the board of directors on 14 January 2023 and signed on their behalf by:

.........................................K Hussain

DIRECTOR/TRUSTEE

The notes on pages 8 to 10 form an integral part of these accounts.

7

SALAM TRUST

Company Registered No: 10009228 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

Summary of significant accounting policies

1. Basis of preparation

1.1 Basis of accounting

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accountancy policy notes. Where necessary the headings laid down in the Companies Act have been adapted to meet the special activities of the Association.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS102 Section 1A

The financial statements are prepared on a going concern basis under the historical cost convention The financial statement s are presented in sterling which is the functional currency of the charity.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Income

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met. Revenue grants are credited to the income and expenditure account as received, unless related to a specific period, when it is placed in a restricted funds until it is used.

1.3 Gifts in kind

The charity receives the benefit of work carried out by volunteers, and receives the use of facility and equipment without charge. No value is placed on these items, where the benefit extends over several periods, in which case they are valued and included in the balance sheet at a reasonable valuation.

1.4 Taxation

As a registered charity, the company benefits from Rates relief and is generally exempt from Income tax and Capital Gains Tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

8

SALAM TRUST

Company Registered No: 10009228 NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022

1.5 Depreciation

No depreciation is provided in the accounting period as construction of buildings is in progress

1.6 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably

2022 2021
£ £
2. DONATIONS AND GIFTS
Donations received 149,558 39,145
CJRS grant 4,433 38,878
Renewal energy grant - 3,000
----------- ------------
153,991 81,023
====== ======

3. MANAGEMENT AND ADMINISTRATION

During the year one of the Trustees Mr K Hussain received £10,956 (2021- 7,389) for teaching.classes

4 TANGIBLE FIXED ASSETS

Freehold
property Total
£ £
Cost
As at 31/03/2021 629,176 629,176
---------- ----------
As at 31/03/2022 629,176 629,176
====== ======
Depreciation
Charge for year
 - -
---------- ----------
As at 31/03/2022
 - -
====== ======
Net book value 629,176 629,176
At 31/03/2022 ====== ======
Net book value
At 31/03/2021
 629,176 629,176
====== ======

9

SALAM TRUST

Company Registered No: 10009228 NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022

S TO THE ACCOUNTS (continued)
HE YEAR ENDED 31 MARCH 2022
2022 2021
£
CREDITORS: Amounts falling due
within one year
Interest free loans 40,500 47,500
Other creditors 4,311 3,597
---------- ----------
44,811 51,097
====== ======

5. CREDITORS: Amounts falling due within one year

6. FUNDS

FUNDS
Unrestricted
funds
Opening 678,205
Incoming resources 153,991
Outgoing resources ( 54,960)
------------
As at 31 March 2022 777,236
=======
Represented by
Tangible fixed assets 629,176
Net current assets 148,060
------------
777,236
=======

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. There is no formal policy of transfer between funds or on the allocation of funds to designated funds.

7 GOING CONCERN

As explained in the Trustees Report although the disruption caused by Coronavirus and lower expected income, Trustee’s are satisfied that the charity will be able to continue its activities possibly at lower scale when it is allowed to reopen. Also there should be no impact on charities reserve policy

10