CHARifi REGISTRATION NUMBER: 1172035 AL-Ikhlas Culture and Education Centre Unaudited Financial Statements For the year ended 31 March 2024 SAK2020 LTD. Chartered Certrfied Accounlants Broadway House Broadway Cardiff CF24 1PU
AL-Ikhlas Culture and Education Centre Financial Ststements Year ended 31 March 2024 Page Trustees. annual report (incorporating the directols report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not fonn part of the financial statsments Detailed statement of financial aclivthes 12 Notes to Ihe detailed statement of financial actrvities 13
AL-Ikhlas Culture and Education Centre Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The Iruslees, who are also the directors for the purposes of company law, wesent their rewrt and the unaudited financial stalemenls of Ihe charity for the year ended 31 Match 2024. Reference and admlnistrativg details Registered charty name AL4khlas Culture and Education Centre Charlty registration numb8r 1172035 Company registration number CE010562 Princlpal offi¢e and registered 16 BaysKle Road offlce Cardiff CF24 SNA UK The trustees MrA Taha Mr A A Jalal Independent examiner SAK2020 Ltd. Chartered Certified Accountants Broadway House Broadway Cardiff CF24 1PU Objectives and activities ' To providing and support Islamic edu(xtK)n through the study of the Quran and Arabi¢ language." To providing facilities for regular prayer meetings for the Muslim community." To foster inlerfailh relationships and promoting religiou5 hatmny in Cardiff and the surrounding aa by working in partnership with other faiths. ' To provide assistan to those in need through Islamic counselling an diswte resolution_ ' To provide support io young people through rneans such as leisure time activities. conducted with a religious ethos in order to develop their capabilitie5. Aims The ultimate aim of Al-lkhlas Centre is lo bTing about wider religious and social benefits. It is to prevent any soThal, psychological or physul hami lo our members, their community and wider society. We strive to provide a moderale yet continuous Islamic environTnenl for the Muslim community, parbcularly in Adamsdown. We also aim to contribute toward5 P)rtraying a peaceful image of Islam in the city of Cardiff ba$ed on our guiding principles_ We aim to ensure that our services are delivered lo very hh standards and wtih professionalism. Therefore, our weekly classes, regular activities and after school Qur'an dub for children are planned, prepared and delivered lo a high standard of teaching. We aim to expand and improve our newly estsblished youth club. This will encourage the youth to integrate and occupy themsefves in an environment that will protect and guide them.
AL-Ikhlas Culture and Education Centre Trustees. Annual Report (Incorporating the D1CtoS Report) (¢wfrNy Year ended 31 March 2024 Achlgvements and perfommnce Al-lkhlas Centre was established to fu[ the growing demand for education classes, a Friday and Ramadhan activities space. and other culturavreligious activities in the area thal lacks the presence of such an Islamic community centre. We seek to ¢reate a GCA Almighty centric. spiritualty balanced, peaceful and prosperous Cardiff, where all CA)mmunilies respe¢t each other and work together for the common good. Al-lkhlas Centre is dose to a bUrgeC1ng asylum seeker MMUnty and a recent refugee cornmunty. Therefore, by default Al-lkhlas Centre quieuy assists the integration of asylum seekers and refugees, helps them build new futures in Wales and creates a harmOnuS society. This is achieved by prowding them with a safe environment where they can find shelter and sanctuary, both socially and religiously. Furthernv)re, A-lkhlas Centre is the onty rrwue in this wtral and densely popuLar 8rea in which Muslims are considered a large majorty. Al-lkhlas Centre managed to pur¢hase 92 Bft)thMy during the year. This buikling will te used for ladies, actNiiies. The main centre ( 88 and 90 Broadway) is 95% completed and may open for the worshipper in Juty 2022. Plans for future periods Centre is planning to improve 92 Broadway so that il is merged with the new building. F1[leS al 92 Broadway need immediate improvemenl and centre will start improvement wotk on<2 88 and 90 Broadway is completed. Reslricled fvnd This represents funds raised by the Libyan ¢ommunty for the TrLLStee Hassan Hamouda who died in 121091202110 set up a'sadka Jariah" projecl for hB swab" Small company provl8ion8 This report has been prepared in aCCordare with the proVn$ appticable to (xjmpanies entitled to the small companies exemption. The Irustees, annual report was approved on ..... trustees by.. Mr A Taha Trustee MrA AJalal Ttustee
AL-Ikhlas Culture and Education Centre Independent Examinerfs Report to the Trustees of AL-Ikhlas Culture and Education Centre Year ended 31 March 2024 We report to the trustees on our examination of the financkgl statements of AL-Ikhlas Cultijre and Education Centre I'the charity'l for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of Ihe a¢¢ounts. The Charity's trustees consider an audit is not required for this year {under $43 {31 of the charits Act 1993 (the Acti. It is our responsibility lo-. 1. Examine the accounts (under s43131 la) of the 1993 Act) 2. Follow the procedures laid down in the General Direcbons gwen by the Char'ty Commissioners under section 43 171 Ib) of the ACL and 3. to stste whether particular matters have come to our attention. Having satisfied ourselves that the charity is not subject to audrt under company law and is eligible for independent examination. il is our responsibiljty lo.. ' examine the accounts under section 145 of the 2011 Art. . tD follow the procedures laid down in the generdl DitionS gwen by the Chartty Commission under section 145151(b) of the 2011 Act, and ' to state whether particular matters have Come to our attenbon. Independent examlnerfs statement We have (x)mpleted our examination. We confimi that no matters have come to our attention in connecb'on with the examination gNing us cause to bdieve" accounting records were not kepl in respect of the charity as required by section 386 of Ihe 2006 Act.. or the financial statements do not accord with those records: ar the financial statements do not comply wtth the ac¢ounting reqU1mernts of section 396 of the 2006 Act other than any requirement that the a¢¢ounts give a 'true and fair, view which is rt a matter considered as part of an independent examinatTron" or the financial stalements have not been prepared in ac(x)rdance with the methods and principles ol the Statement of Recommended Pracb'ce for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021. We have no concerns and have come across no other matters in connection with the examination to which attention should be down in this report in order to enable a prOr understanding of the accoun15 to be resched. 2020 In ependent Examiner SAK2020 Ltd Chartered Certified Accountants Broadway House Broadway CF24 1PU
AL-Ikhlas Culture and Education Centre Statement of Financial Activities (including income and expenditure account Year ended 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Income and endowments Oonations and legacies Total In¢ome 138.177 138,177 229,623 138.177 138,177 229,623 Expendlture Expenditure on charitable activities Total gxpenditure 58.310 58.310 58,310 58,310 94,734 94,734 Net income and net movement In funds 79.867 79.867 134,889 Reconciliafjon of funds Totsl funds brought forward Total funds carried forward 1.129.720 1,129.72D 994,831 1.209.587 1,209,587 1,166,630 The slalement of financial activities indudes all gains and 105ses recogni5ed in the year. All income and expendrture derive from continuing thities. Thè notès on pages 6 to 10 form part of these financlal statemènts.
AL-Ikhlas Culture and Education Centre Statement of Financial Position 31 March 2024 2024 2023 Flxed assets Tangibte fixed assets 1.154.161 1.156.483 Current assets Cash at bank and in hand 77,231 77,231 1,231,392 54,237 54,237 1.210,720 Net Current assets Total assets les8 Current liabilitlgs Credltors: amounts lalllng due after more than one year Nel assets 10 21.805 81,000 1,129,720 1,209.587 Funds of the charfty Unrestricted funds 1,209,587 1,209.587 1,166,630 1.166,630 Total chorlty funds 11 For the year ending 31 March 2024 the thartty wds entiued to exemplK)n from audit under SeCn 477 of the Companies Act 2006 rdab.ng to srnall Ix)mpantes. Directors. responsibilitses: The members have not requirEd the (L)mpany to obtsin an audit of its financk41 statements for the year in queslion in accordatKe with section 476., The directors acknowledge their responsikn'litses for complying wth the requirements of the Act wth resp1 to CountIng records and the preparation of financial statements. These financial statements have been prepared in accordance wtth the provis>ons applicable to companies subject to the small COTnpanies' regime. These financial statements were approved by the LK)ard of trustees and authorised for issue on .. iJ/Q.6/£p.4.............., and are signed on behalF ofthe bDard by.. Mr A Taha Trustee MrAA Jalal Truslee Thè notts on pages 6 to 10 fonn part ofthese finan¢ial stataments.
AL-Ikhlas Culture and Education Centre Notes to the Financial Statements Year ended 31 March 2024 Statemènt of ¢crtnpliance These financial statements have prepared in comp1kin with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard appltable in the UK and Republic of Ireland (FRS 1021 (Charilies SORP IFRS 102}l and the Companies Act 2006. Accounting policies Basis of proparation The finanaal stslements have been prepared on the historul cost basis. as modified by the revalu*ion of rtain ffinancial assets and liabileS and investrnent properties measured al fair value through inrne or expenditure. The financial statements are prepared in sterting, which is the functional currency of the entity. Going concern There are no material unrtaIntieS about the charity's abilty to continue. Fund accounting Unrestricted funds are available for use at the discrets.on of thè trustees to further any of the charity's purposes. Designated fvnds are unrestricted fvnds earniarked by the tnJ5tees for particular future proiect or commilmenL Restricied fijnds are subjected to restrictions on their expenditure declared by the donor 01 through the terms of an appeal. and fall into one of two sub-classes.. restricted income funds or endowment funds. Incoming resources All incoming resources are included in the staterrEnt of financial activitS when enkn'uement has passed to the charity,. il is probable that the economic beneffts assoaated with the transaction will flow lo the charity and the amount can be teliably measured. The following specific policies are applied to particu13r categotie5 of income". irorne froTll donations or grants is recognised when there is evidence of entitlement to the grft, receipt is probable and rt5 amount can be measured reliably. legacy income is recognised when r1p1 is probable and entillement is established. income from donated goods is measured at the fair value of the good5 unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimatse resale valye. Donated facilities and services are recognised in the accounts when received if the value can be reliabty measured. No amounts are included for the conthbution of general volunteers. income from contracts for the suppty of seNices is rerA)gnised with the delivery of the nlracled service. This is claSfied as unrestricted funds unless there is a conlractual requirernent for il to be spent on a partiujlar purpose and returned if unspent, in which case il may be regarded as restricted.
AL-Ikhlas Culture and Education Centre Notes to the Financial Ststements {ntinued) Yèar ended 31 March 2024 Accountlng policies Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which (Annot be fully recovered. and is classified under headings of the slatemenl of financial activities to which it relates.. expenditure on raisiny funds indudes the costs of all fvndraising activities. events, non-charitable trading activities. and the sale of donated goods. expenditure on ¢haritable acbvitses indudes all costs incutred by a charity in undertaking livilies that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governan of the charity apF(Srtioned to charitable activities. other expendilure includes all expenditure that is neither related to raising fvnds for the charity nor part of its expenditure on chantable activrties. Al costs are allocated to expenditure categories reflectsng the use of the resource. Direct costs attributable lo a single activity are allated directy to that activity. Shared costs are apporboned behveen the activities they contribute to on a reasonable. justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subseqLJenlty stated al cost less any accumulated depreciab'on and impairment k)sses. Any tsngible assets carried al revalued amounts are recorded at the fair value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated irnpairment losses. An increase in the carrying amount of an asset a5 a result of a revaluation, is recognised in other recognised gaills and losses, unless it reverses a charge for impairment that has previousty been recognised as expenditure within the stalement of financial activities. A decrease in the carrying amount of an asset as a result of revaluab'on. is reCOgned in other recognised gains and losses. except to which il offsets any previous revaluab.on gain. in which case the Ios5 is shown within other recognised gains and loSS on the statement of financial activities Depreciation Depreciation is calculated so as to write off the cost or valuab'on of an asset, less its residual value, over the useful economic lrfe of that asset as follows" Impainnent ol flxed assets A review for indicators of impairment is carried out al each reporting date, with the recoverable amount being estimated where such indal0[5 exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. PrK>r impairments are 81$0 reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of an individual asseL an ests.mate 15 made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-genefftting unrf( 15 the smallest identifiable group of assets Ihat includes the asset and generates cash inflows that largely independent of the c2sh inllows from olher assets or groups of assets.
AL-Ikhlas Culture and Education Centre Notes to the Financial Statsments (wnirnu Year ended 31 March 2024 Accounting pollcles (cl1E) Impalnnent of fixed assets (¢onlinuedJ For impairment testing of goodwill. the g¢x#Jwll acquired in a business combination is. from the aCquI110n date. allocated lo each of the cash-generating units that are expected lo benefit from the sYnergS of the combination. irrespective of whelher other assets or liabilities of the charity are assigned to those unts. Financial inslruments A financial asset or a finanryal liability is rec(Jnised only when the charity bQMe$ a paty to the contractual provisions of the instrument. Basic linarscial instrumenis are inrtially rwni%ed at the anUnt receivable or payable including any related transaction tx)sis. Current assets and current liabililies are subsequenuy eaSured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amrtised cosL Wnete investments in shares are publi{ traded or their fair value can otherwise be measured reliably, the inveslment is subsequenuy Measu at fair value with changes in fair value recognised in income and expenditure. Al other such inveslments are subsequently measuTed at cost less impairment. Other financial instruments, including derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments di$Unted 2t a mat1(et rate of interest for a similar debl instrument other financial instruments are subsequentty measured al fair value. with any changes recognised in the statement of financial xtsvitses, with the exception of hedging instruments in a designated hedging relaknonship. Financial assets thal are measured al cost or amortised (x)5t are reviewed for objective evidence of impairment at the end of each reports.ng date_ If there is objective eviden of impairment, an irnpairment loss is reccgnised under the appropriate heading in the statement of financial activities in which the initial gan was recognised. For all equity instnjments regardless of snInCe. and other financial assets that are individually significanL these are assessed individually for impairment. Other financial assets are ether assessed individually of grouped on the basis of similar rJedil risk characteristics. Any reversals of impairment are recognised immediatety, to the extent that the reversal does not result in a carrying arTh)unt of the financial asset that exceeds what the carrying amount would have been had the impairment not prevKsusty been recognised. Limitod by guarantee
AL-Ikhlas Culture and Education Centre Notes to the Financial Statements (¢orttinu¢d) Year ended 31 March 2024 Donations and legacies Unrestred Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Donab'ons other Donab"ons Gift Aid 125.879 125,879 2tE.625 159,345 32,280 37,998 12.298 12,298 37.998 138.177 138,177 244.623 229,623 Expenditure on charitable activities by fvnd type Unreslrict&Y Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Activity type 1 58,310 58,310 72,824 94,734 Expenditure on charitable acltvities by activity type Activities undertaken Total funds directly 2024 Total fund 2023 Activity type 1 58.310 58,310 94,734 Net income Net income is slated after chargingllcrediti"ngl: 2024 2023 Depreciab"on of tangible fixed assels 9.566 11.345 Stsff costs The average head cx)unt of empk)yees during the year was Nil {2023= Nill. No employee reiVed employ& beneffts of more than £60.QDO during the year {2023.' Nil).
AL-Ikhlas Culture and Education Centre Notes to the Financial Statements (contthuedj Year ended 31 March 2024 Tangible fixed assets Freehold Frxiures and property fittings Total Cost At 1 April 2023 Addib"ons 1.111.098 4.797 57,004 2,447 59,451 1,168,102 7,244 1,175,346 At 31 March 2024 1.115,895 Dèpreciation At 1 April 2023 Charge for the year At 31 March 2024 11.619 9,566 11,619 9.566 21,18S 21.185 Carrying amount At 31 March 2024 1.115,895 1.111,098 38,266 45.385 1.154.161 1,156.483 At 31 March 2023 10. Crgditors: amounts falling due after more than one year 2024 2023 Karz e Hassana 21.805 81.000 11. Analysis ol charitable funds Unrestrlcted funds At 31 March 20 24 At 1 April 2023 Income Expenditure General funds 1.129.720 138.177 158.31 DI 1,209,587 At 31 March 20 23 At 1 April 2022 Income Expenditure General fund5 994.831 244,623 172.8241 1.166,630 10
AL-Ikhlas Culture and Education Centre Management Infomiation Year ended 31 March 2024 The lollowing pages do not fomi part of the financial statements. 11
AL-Ikhlas Culture and Education Centre Detsiled Ststement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Donations Other Donations Gift Aid 125,879 159,345 32,280 37,998 12,298 138,177 229.623 Total income 138.177 229.623 Expendlture Expenditure on charltable activities Volunteer Expense Bank Charges Rates & Water Light & Heal Repairs & maintenan Insuran Food Expense (Feeding Refugees) serv Charge Travel & Subsisten Donation I Zakat Telephone & Internet Depreciation Ramadan Iftar Printing, Stationery & Postage Sundry Expenses Cleaning and Refuse 16.342 256 2.641 14,3061 931 1,213 5,816 189 16,240 273 3,649 6,800 10,744 990 23.621 650 2,795 445 11,345 14.989 260 1,215 718 9,932 600 13.553 125 737 715 58.310 94,734 Total expendlture 58,310 94,734 Net incom¢ 79,867 134.889 12
AL-Ikhlas Culture and Education Centre Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expendlture on charltable activities Activity type 1 Activities undertaken directly Volunteer Expense Bank Charges Rates & Water Light & Heat Repairs & maintenance Insurance Food Expense {Feeding Refugee5) Service Charge Travel & Subsistence t)onalion I Zakat Telephone & Intemet Depreciation Rarnadan Iftar Printing. Stationery & Postage Sundry Expenses Cleaning and Reftjse 16,342 256 2,641 14,3061 931 1,213 5,81 S 189 16,240 273 3,649 6.800 10,744 990 23,621 650 2.795 445 11,345 14,989 260 1,215 718 9,932 600 9.566 13.553 125 737 715 58.310 94,734 ExFxnditur¢ on ¢haritsbl¢ a¢tivities 58.310 94.734 13