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2020-12-31-accounts
|
Page |
| Trustees’ annual report |
I |
| Independent auditor’s report to the members |
6 |
| Statement offinancial activities |
10 |
| Statement offinancial position |
II |
| Statement of cash flows |
13 |
| Notes to the financial statements |
14 |
| Registered charity name |
KSIMC of Birmingham |
| Charity registration number |
1170675 |
| Principal office |
17 Clifton Road |
|
Balsall Heath |
|
Birmingham |
|
B12 8SX |
| The trustees |
Mr G Datoo |
|
Mr M Sachedina |
|
Mrs I Ramji |
|
Mr H Bandali |
|
Mr H Hudda |
|
Mr M Railey |
|
Mr M Kassamali |
|
Mrs F Damji |
|
Dr R Alidina |
|
MrT Bhanji |
|
Mr S Fazal |
|
Mr S Zaidi |
| Auditor |
Fairman Davis |
|
Chartered accountants & statutory auditor |
|
6 Exhibition House |
|
Addison Bridge Place |
|
London |
|
W14 8XP |
| Year ended 31 December 2020 |
|
|
|
|
|
|
|
|
2020 |
|
2019 |
|
|
Unrestricted |
Restricted |
|
|
|
|
funds |
funds |
Total funds |
Total funds |
|
Note |
£ |
£ |
£ |
£ |
| Income and endowments |
|
|
|
|
|
| Donations and legacies |
4 |
329652 |
1,166503 |
1,496155 |
1,294,667 |
| Charitable activities |
5 |
183,179 |
— |
183,179 |
243,092 |
| Othertrading activities |
6 |
78,964 |
— |
78,964 |
126,936 |
| Investment income |
7 |
232,598 |
— |
232,598 |
229,112 |
| Total income |
|
824,393 |
1,166,503 |
1,990,896 |
1,893,807 |
| Expenditure |
|
|
|
|
|
| Expenditure on raising funds: |
|
|
|
|
|
| Costs of raising funds, donations |
|
|
|
|
|
| and legacies |
8 |
16,954 |
— |
16,954 |
20,548 |
| Expenditure on charitable activities |
9,10 |
883,774 |
13,027 |
896,801 |
1,167,134 |
| Total expenditure |
|
900,728 |
13,027 |
913,755 |
1,187,682 |
| Net income |
|
(76,335) |
1,153,476 |
1,077,141 |
706,125 |
| Transfers between funds |
|
507,979 |
(507,979) |
|
|
| Net movement in funds |
|
431,644 |
645,497 |
1,077,141 |
706,125 |
| Reconciliation offunds |
|
|
|
|
|
| Total funds brought forward |
|
9,215,808 |
1,300,722 |
10,516,530 |
9,810,404 |
| Total funds carried forward |
|
9,647,452 |
1,946,219 |
11593,671 |
10,516,530 |
| Charity Only |
|
2020 |
2019 |
|
Note |
£ |
£ |
| Fixed assets |
|
|
|
| Tangible fixed assets |
|
6,562,904 |
6,321,511 |
| Current assets |
|
|
|
| Debtors |
|
1,085,122 |
1,218,441 |
| Cash at bank and in hand |
|
2,579,844 |
1,755,206 |
|
|
3,664,966 |
2,973,647 |
| Creditors: amounts falling due within one year |
|
196,372 |
174,784 |
| Net current assets |
|
3,468,594 |
2,798,863 |
| Total assets less current liabilities |
|
10,031,498 |
9,120,374 |
| Net assets |
|
10,031,498 |
9,120,374 |
| Funds ofthe charity |
|
|
|
| Restricted funds |
|
1,946,219 |
1,300,722 |
| Unrestricted funds |
|
8,085,279 |
7,819,653 |
| Total charity funds |
|
10,031,498 |
9,120,375 |
KSIMC of Birmingham
Statement of Cash Flows
Year ended 31 December 2020 |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Cash flows from operating activities |
|
|
| Net income |
1,077,141 |
706,125 |
| Adjustments for: |
|
|
| Depreciation oftangible fixed assets |
258,778 |
257,761 |
| Dividends, interest and rents from investments |
(197,358) |
(200,392) |
| Other interest receivable and similar income |
(35,240) |
(28,720) |
| Accrued (income)/expenses |
(15,737) |
17,015 |
| Changes in: |
|
|
| Trade and other debtors |
165,895 |
(91,721) |
| Trade and other creditors |
25,979 |
(60,048) |
| Cash generated from operations |
1,279,458 |
600,020 |
| Interest received |
35,240 |
28,720 |
| Net cash from operating activities |
1,314,698 |
628,740 |
| Cash flows from investing activities |
|
|
| Dividends, interest and rents from investments |
197,358 |
200,392 |
| Purchase oftangible assets |
(506,526) |
(253,104) |
| Net cash used in investing activities |
(309,168) |
(52,712) |
| Cash flows from financing activities |
|
|
| Proceeds from borrowings |
(78,138) |
(68,571) |
| Net cash used in financing activities |
(78,138) |
(68,571) |
| Net increase in cash and cash equivalents |
927,392 |
507,457 |
| Cash and cash equivalents at beginning of year |
1,862,910 |
1,355,453 |
| Cash and cash equivalents at end ofyear |
2,790,302 |
1,862,910 |
| 4. |
Donations and legacies |
|
|
|
|
|
Unrestricted |
Restricted |
Total Funds |
|
|
Funds |
Funds |
2020 |
|
|
£ |
£ |
£ |
|
Donations |
|
|
|
|
Burial |
69,369 |
— |
69,369 |
|
Burial donations |
23,039 |
— |
23,039 |
|
Fitra |
— |
7,179 |
7,179 |
|
General donations |
49,015 |
— |
49,015 |
|
Gift Aid |
42,459 |
— |
42,459 |
|
Hardship funds |
12,980 |
— |
12,980 |
|
AIC project |
— |
1,133,715 |
1,133,715 |
|
Nyaz |
11,027 |
— |
11,027 |
|
Seniors |
.- |
14,231 |
14,231 |
|
Subscriptions |
86,844 |
— |
86,844 |
|
Sadka |
— |
10,433 |
10,433 |
|
Zakat |
|
945 |
945 |
|
COVID 19 Support fund |
9,919 |
— |
9,919 |
|
Grants |
|
|
|
|
Grants receivable |
25,000 |
— |
25,000 |
|
|
329,652 |
1,166,503 |
1,496,155 |
|
|
Unrestricted |
Restricted |
Total Funds |
|
|
Funds |
Funds |
2019 |
|
|
£ |
£ |
£ |
|
Donations |
|
|
|
|
Burial |
58,812 |
— |
58,812 |
|
Burial donations |
16,710 |
— |
16,710 |
|
Fitra |
— |
5,574 |
5,574 |
|
General donations |
551579 |
— |
55,579 |
|
Gift Aid |
49,574 |
— |
49574 |
|
Hardship funds |
14,146 |
— |
14,146 |
|
AIC project |
— |
925,417 |
925,417 |
|
Nyaz |
32,521 |
— |
32,521 |
|
Seniors |
— |
27,440 |
27,440 |
|
Subscriptions |
87,285 |
— |
87,285 |
|
Sadka |
— |
20,265 |
20,265 |
|
Zakat |
|
1,344 |
1,344 |
|
COVID 19 Support fund |
— |
— |
— |
|
Grants |
|
|
|
|
Grants receivable |
|
|
|
|
|
314,627 |
980,040 |
1,294,667 |
| Charitable activities |
|
|
|
|
|
Unrestricted |
Total Funds |
Unrestricted |
Total Funds |
|
Funds |
2020 |
Funds |
2019 |
|
£ |
£ |
£ |
£ |
| Secular Education fees |
48,921 |
48,921 |
64,497 |
64,497 |
| Madressa fees |
19,301 |
19,301 |
34,669 |
34,669 |
| Nurseryfees |
114,957 |
114,957 |
143,926 |
143,926 |
|
183,179 |
183,179 |
243,092 |
243,092 |
| Othertrading activities |
|
|
|
|
|
Unrestricted Total Funds |
|
Unrestricted |
Total Funds |
|
Funds |
2020 |
Funds |
2019 |
|
£ |
£ |
£ |
£ |
| Advertising |
1440 |
1,440 |
2,140 |
2,140 |
| Funfair |
— |
— |
9,350 |
9,350 |
| Halls & MajIis |
4,763 |
4,763 |
17,620 |
17,620 |
| Subcommittee |
72,186 |
72,186 |
96,083 |
96,083 |
| Other income |
575 |
575 |
1,743 |
1,743 |
|
78,964 |
78,964 |
126,936 |
126,936 |
| nvestment income |
|
|
|
|
|
Unrestricted |
Total Funds |
Unrestricted |
Total Funds |
|
Funds |
2020 |
Funds |
2019 |
|
£ |
£ |
£ |
£ |
| Income from investment properties |
197,358 |
197,358 |
200,392 |
200,392 |
| Bank interest receivable |
1,058 |
1,058 |
5,489 |
5,489 |
| Other investment income |
34,182 |
34,182 |
23,231 |
23,231 |
|
232,598 |
232,598 |
229,112 |
229,112 |
|
|
|
|
Unrestricted |
Total |
Funds |
Unrestricted |
Total |
Funds |
|
|
|
|
Funds |
|
2020 |
Funds |
|
2019 |
|
|
|
|
£ |
|
£ |
£ |
|
£ |
| Costs |
of |
rental |
income |
16,954 |
|
16,954 |
20,548 |
|
20,548 |
|
Unrestricted |
Restricted |
Total Funds |
|
Funds |
Funds |
2020 |
|
£ |
£ |
£ |
| Religious |
114,301 |
2,000 |
116,301 |
| Education |
103,245 |
— |
103,245 |
| Burial scheme |
78,083 |
— |
78,083 |
| Supportcosts |
588,145 |
11,027 |
599,172 |
|
883,774 |
13,027 |
896,801 |
|
Unrestricted |
Restricted |
Total Funds |
|
Funds |
Funds |
2019 |
|
£ |
£ |
£ |
| Religious |
218,871 |
29,594 |
248,465 |
| Education |
157,342 |
— |
157,342 |
| Burial scheme |
29,998 |
— |
29,998 |
| Support costs |
706,171 |
25,157 |
731,329 |
|
1,112,382 |
54,751 |
1,167,134 |
|
Activities |
|
|
|
|
undertaken |
Support |
Total funds |
Total fund |
|
directly |
costs |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Religious |
116,301 |
502,599 |
618,900 |
841,209 |
| Education |
103,245 |
39,268 |
142,513 |
211,462 |
| Burial scheme |
78,083 |
— |
78,083 |
29,998 |
| Investment management |
— |
57,305 |
57,305 |
84,465 |
|
297,629 |
599,172 |
896,801 |
1,167,134 |
|
|
|
Investment |
|
|
|
Religious |
Education |
management |
Total 2020 |
Total 2019 |
|
£ |
£ |
£ |
£ |
£ |
| Staffcosts |
80,056 |
— |
— |
80,056 |
76,131 |
| Premises |
47,954 |
8,694 |
24,211 |
80,863 |
141,561 |
| Finance costs |
3,247 |
22,996 |
22,315 |
48,558 |
58,513 |
| Insurance |
16,201 |
751 |
— |
16,952 |
17,963 |
| Legal & professional |
8,132 |
1,676 |
5,800 |
15,608 |
16,753 |
| Depreciation |
252,585 |
2,338 |
3,854 |
258,777 |
257,761 |
| Sub committee |
89,924 |
— |
— |
89,924 |
128,502 |
| Other costs |
|
|
|
— |
23,067 |
| Auditorfees |
4,500 |
2,813 |
1,125 |
8,438 |
11,078 |
|
502,599 |
39,268 |
57,305 |
599,172 |
731,329 |
| Net income |
|
|
| Net income is stated after charging/(crediting): |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Depreciation oftangible fixed assets |
258,778 |
257,761 |
| Staff costs |
Staff costs |
|
| The total staff costs and employee benefits for the reporting period are analysed as |
|
follows: |
|
2020 |
2019 |
|
£ |
£ |
| Wages and salaries |
191,687 |
234,605 |
| Social security costs |
2,682 |
3,118 |
| Employer contributions to pension plans |
1,879 |
1,898 |
|
196,248 |
239621 |
|
Freehold |
Fixtures and |
Motor |
|
Asset under |
|
|
property |
fittings |
vehicles |
Equipment |
construction |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Cost |
|
|
|
|
|
|
| At 1 Jan 2020 |
7,322,841 |
328,386 |
18,630 |
46,493 |
926,819 |
8,643,169 |
| Additions |
— |
12,547 |
— |
— |
493,979 |
506,526 |
| At 31 Dec 2020 |
7,322,841 |
340,933 |
18,630 |
46,493 |
1,420,798 |
9,149,695 |
| Depreciation |
|
|
|
|
|
|
| At 1 Jan 2020 |
1,928,151 |
326,149 |
18,629 |
39,623 |
— |
2,312,552 |
| Charge forthe |
|
|
|
|
|
|
| year |
252,586 |
3,903 |
— |
2,289 |
— |
258,778 |
| At31 Dec2020 |
2,180,737 |
330,052 |
18,629 |
41,912 |
— |
2,571,330 |
| Carrying amount |
|
|
|
|
|
|
| At31 Dec2020 |
5,142,104 |
10,881 |
1 |
4,581 |
1,420,798 |
6,578,365 |
| At 31 Dec 2019 |
5,394,690 |
2,237 |
1 |
6,870 |
926,819 |
6,330,617 |
| Investments |
|
|
Investment |
|
properties |
|
£ |
| Cost orvaluation |
|
| At 1 January 2020 and 31 December 2020 |
3,533,239 |
| Impairment |
|
| At 1 January 2020 and 31 December 2020 |
|
| Carrying amount |
|
| At 31 December 2020 |
3,533,239 |
| At31 December2019 |
3,533,239 |
All investments shown above are held at valuation.
Debtors |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Trade debtors |
58,358 |
57,149 |
| Prepayments and accrued income |
11,688 |
11,472 |
| Other debtors |
244,648 |
411,968 |
|
314,694 |
480,589 |
| Creditors: amounts falling due within one year |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Bank loans and overdrafts |
122,757 |
122,757 |
| Payments received on account |
4,455 |
1,395 |
| Trade creditors |
34689 |
25,790 |
| Accruals and deferred income |
15,129 |
30,866 |
| Social security and other taxes |
1,917 |
2,128 |
| Other creditors |
171,347 |
157,116 |
|
350,294 |
340,052 |
| Creditors: amounts falling due after more than one year |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Bank loans and overdrafts |
1,272,633 |
1,350,771 |
| Unrestricted funds |
|
|
|
|
|
|
At |
|
|
|
At |
|
1 Jan 2020 |
Income |
Expenditure |
Transfers |
31 Dec 2020 |
|
£ |
£ |
£ |
£ |
£ |
| General funds |
2309,902 |
731,986 |
(570,059) |
14,000 |
2,485,829 |
| Equipmentfund |
17,720 |
— |
— |
— |
17,720 |
| Burial |
566,675 |
92,407 |
(78,083) |
— |
580,999 |
| Building revaluation |
|
|
|
|
|
| reserve |
3,484,830 |
— |
(165,944) |
— |
3,318,886 |
| Building fund |
2,836,681 |
— |
(86,642) |
493,979 |
3,244,018 |
|
9,215,808 |
824,393 |
(900,728) |
507,979 |
9,647,452 |
|
At |
|
|
|
At |
|
1 Jan 2019 |
Income |
Expenditure |
Transfers |
31 Dec 2019 |
|
£ |
£ |
£ |
£ |
£ |
| General funds |
2,325,399 |
838,244 |
(850,346) |
(3,394) |
2,309,903 |
| Equipment fund |
17,720 |
— |
— |
— |
17720 |
| Burial |
521,150 |
75,523 |
(29,998) |
— |
566,675 |
| Building revaluation |
|
|
|
|
|
| reserve |
3,650,774 |
— |
(165,944) |
— |
3,484,830 |
| Building fund |
2,673,032 |
— |
(86,642) |
250,291 |
2,836,681 |
|
9,188,075 |
913,767 |
(1,132,930) |
246,897 |
9,215,809 |
| Restricted funds |
|
|
|
|
|
|
At |
|
|
|
At |
|
1 Jan 2020 |
Income |
Expenditure |
Transfers |
31 Dec 2020 |
|
£ |
£ |
£ |
£ |
£ |
| AIC project |
1,224,303 |
1,133,715 |
— |
(493979) |
1,864,039 |
| Senior Citizen |
33,015 |
14,231 |
(11,027) |
— |
36,219 |
| Fitra |
10,502 |
7,179 |
— |
(14,000) |
3,681 |
| Sadka |
31,243 |
10,433 |
(2,000) |
— |
39,676 |
| Zakat |
1,659 |
945 |
— |
— |
2,604 |
|
1,300,722 |
1,166,503 |
(13,027) |
(507,979) |
1,946,219 |
|
At |
|
|
|
At |
|
1 Jan 2019 |
Income |
Expenditure |
Transfers |
31 Dec 2019 |
|
£ |
£ |
£ |
£ |
£ |
| AIC project |
545,782 |
925,417 |
— |
(246,896) |
1,224,303 |
| Senior Citizen |
30,732 |
27,440 |
(25,157) |
— |
33,015 |
| Fitra |
14,928 |
5,574 |
(10,000) |
— |
10,502 |
| Sadka |
25,978 |
20,265 |
(15,000) |
— |
31,243 |
| Zakat |
4,909 |
1,344 |
(4,594) |
— |
1,659 |
|
622,329 |
980,040 |
(54,751) |
(246,896) |
1,300,722 |
| Analysis of net assets between funds |
|
|
|
|
Unrestricted |
Restricted |
Total Funds |
|
Funds |
Funds |
2020 |
|
£ |
£ |
£ |
| Tangible fixed assets |
6,578,365 |
— |
6,578,365 |
| Investments |
3,533,239 |
— |
3,533,239 |
| Current assets |
1,158,775 |
1,946,219 |
3,104,994 |
| Creditors less than 1 year |
(350,294) |
— |
(340,294) |
| Creditors greater than 1 year |
(1,272,633) |
— |
(1,272,633) |
| Net assets |
9,647,452 |
1,946,219 |
11,593,671 |
|
Unrestricted |
Restricted |
Total Funds |
|
Funds |
Funds |
2019 |
|
£ |
£ |
£ |
| Tangible fixed assets |
6,330,615 |
— |
6,330,615 |
| Investments |
3,533,239 |
— |
3,533,239 |
| Current assets |
1,042,777 |
1,300,722 |
2,343,499 |
| Creditors less than 1 year |
(340,052) |
— |
(340,052) |
| Creditors greaterthan 1 year |
(1,350,771) |
— |
(1,350,771) |
| Net assets |
9,215,808 |
1,300,722 |
10,516,530 |
| Analysis of changes in net debt |
|
|
|
|
At |
|
At |
|
1 Jan 2020 |
Cash flows |
31 Dec 2020 |
|
£ |
£ |
£ |
| Cash at bank and in hand |
1,862,910 |
927,390 |
2,790,300 |
| Debt due within one year |
(122,757) |
— |
(122,757) |
| Debt due afterone year |
(1,350,771) |
78,138 |
(1,272,633) |
|
389,382 |
1,005,528 |
1,394,910 |
| Turnover: |
£386,755 |
(2019: £431405) |
| Administrative Expenses: |
£230,472 |
(2019: £336195) |
| Net Income: |
£155,283 |
(2019: £95,210) |
| Fixed Assets: |
£3,540,179 |
(2019: £3,540,401) |
| Current Assets: |
£249,456 |
(2019: £149,771) |
| Current Liabilities: |
£224,146 |
(2019: £201,829) |
| Long Term Liabilities: |
£1,979,633 |
(2019: £2,057,771) |
| Total Net Assets: |
£1,585,855 |
(2019: £1,430,572) |
| Total Funds: |
£1,585,855 |
(2019: £1,430,572) |
| pany number 06391478 |
|
|
| Turnover |
£94,182 |
(2019: £98,231) |
| Administrative Expenses: |
£23,448 |
(2019: £25,280) |
| Net Profit! (Loss): |
£10,734 |
(2019: £2,049) |
| Fixed Assets: |
£8,521 |
(2019: £1,943) |
| Current Assets: |
£11,216 |
(2019: £6,958) |
| Current Liabilities: |
£43,418 |
(2019: £43,316) |
| Total Net liabilities: |
£23,681 |
(2019: £34,415) |
| Share capital reserves: |
£23,681 |
(2019: £34,415) |