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||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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||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|
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||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|
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|Net income|||
|---|---|---|
|Net income is stated after charging/(crediting):|||
||2020|2019|
||£|£|
|Depreciation oftangible fixed assets|258,778|257,761|
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|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|
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||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|
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|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|
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|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|
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|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|
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|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|
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|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)|