REGISTERED CHARrrY NUMBER: 1173764 WM EST. 1979 WORCESTER MUSLIM WELFARE ASSOCIATION Report of the Trustees and Financial Statements For the Year Ended 31 March 2024
WORCESTER MUSLIM WELFARE ASSOCIATION INDEX TO THE FINANCIAL STATEMEKrs for the year ended 31 March 2024 Contents Pages Reference and administrative details Trustees Report and responsibilities IndependentAuditorfs Report 8-10 Statement of Financial Activities Statement of Financial Position 12 Statement of Cash Flows Notes to the Financial Statements 14-21 Pagel I
WORCESTER MUSLIM WELFARE ASSOCIATION REFERENCES AND ADMINISTRATIVE DETAILS for the year ended 31 March 2024 Reg(stered Charity Number: 1173764 Registered Principal Office: Central Mosque Tallow Hill Worcester Worcestershire WR5 1JU Trustees: Haris Saleem (Chairman) Mohammed Akbar (New secretary) Mohammed Iqbal (Outgoing Secretary) Muhammed Amin - Education Nazaqat Hussain - Treasurer Abdul Rauf - maintenan (Retired in August 2024) Afzaal Iqbal {assistant secretary) Hamaad Akmal (educalKin) Management Committee: Sarfraz Baig - RelÉgious event organiserlcatering Basharat- Covering Imam Sajid Hussain - Maintenan Ghulani Shabbii - Education Zakwan Shaukat- social media Haroon Rizwan Sadique Haroon Rafique (August 2024) Jabbar Hussain (July 2024) Auditors: rrcA LTD Chartered Accknuntant and Registered Statutory Auditor 269 Famborough Roa(J Famborough Hants GU14 ILY Sollcttors: Ahmad Thomson Ivynne Chambers 5 Kimberly Road London NW6 7SG Hallmark Hulme 3-5 Sansome Pla Worcester WR1 1UQ Bankers: Santander Customer servi Centre Btle Merseyside L30 4GB Page12
WORCESTER MUSLIM WELFARE ASSOCIATION REPORT OF THE TRUSTEES for the year ended 31 March 2024 The trustees present their report with the financial statements of WOrter Muslim Welfare Association (WMWA) for the year ended to 31 March 2024. The trustees have adopled the provisions of the Statement of Recommended Practice (SORP) 'AGLJ)unting and Reporting by Charities, in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) as issued in January 2022. AIMS AND OBJECTIVES The Worcestershire Muslim Welfare Association (WMWA) is dedicated to imparting a positive image of Islam to the Worcestershire publÉc. We endeavour to achieve this through a range of outreach activities such as public discourses. cultural events. and by hamessing the power of digital outreach through our mosque's bespoke app. cornpatible with both Android and Apple devices. As a conscientlOUS Chantabie entity foGused on ihe communws wetfare, WMWA actively collaborates with key oxtomal organizalions-induding the IoGqI Council, NHS, Police, and educational bCKJies-tO )nVeY signfficani arKI pertinent messages to our constituents. Our goal is to nurture a favourabie percepts'on of Islam and to ensure that our activities and prosence resonatc positivcly across thc communty. iTrospcctive of religious backgrounds. To thls eno. we are staunchly commrtted to deiNennq exemplary educatsonal content and increasing awareness across various demographics. Wc cnsure that WMWA'S amcnitics arc open to everyone. Muslim and non-muslim alike, and we especially invite non-muslims to paniapate in open days and educational visits to foster greater comprehension of Islam. Moreover. we are proponents of societsl w81fare programs and the pursuit of environmental sustainability, objectives we seek to realize through partnerships with public instilutions and private corporations. With an outk)ok that transcends national boundaries. we diligently gather donations for global emergency relief work, underscoring our (xymmitrnenl to humanitarian aid that transcends political or ethnic divisions. PUBLIC BENEFIT Due Tegard has been given to the guidance published by the Charity Commission on public benefit. STRUCTURE, GOVERNANCE, AND MANAGEMENT WMWA is constitut8d as a Charitable Incorporated Organisatton (CIO) registered with the Charity Commission. The CIO was fomed on 11 Juty 2017 and is goverr*d by its constitution. The board of trustees is made up of 7 members. Trustees are appointed at Ihe Trustees Meeting throughout the year. Page13
WORCESTER MUSLIM WELFARE ASSOCIATION REPORT OF THE TRUSTEES for the year ended 31 March 2024 (continued) RISK MANAGEMENT Trustees need to be aware of all risks facing charities. To overcome any potential risks, here at WMWA, we are always proactively finding ways of improving risk management through better education. improving and adopting new processes. All necessary Insurances are in place., DBS checks are done for all trustees and employees. Regular risk management appraisals arp done for fire, data management, cash handling. banking, filing systems. To better improve our systems and proG8sses, WMWA ara always looklng to work with professional organization8, to keop ahead of any regulation8 rdating to our organlzatlon. OUR STRATEGY AND GOAL8 With more than seven years of operations undei the CIO structure. WMWA has embraced numerous opportunities for expansion and has enhanced management predureS and transparency. Our focused goals for the fOrthrnIng year indude: To com ete 500A of our new build project and then start all intcmal works by end of 202412025 Crafting a viablp. fiindr2ising strategy to facilitate timely fruition of the mosque projèct within the set three-year titneline. Initsatinq revision of the site plans for Unity House to promote WMWA'S financial autonomy and davoloping a busincss strategy for the optimal use of WMWA'S properties. Conliiiuing the expansion of our youth programs and augmenting education activities launchp.d from Unty House. Hiring qualified educatora and admini3trator3 for our educational progrnms or contemplating the estsblishment ot a specialized management body. Broadening our managerial and trustee ards, )Up1ad wtth professional development opportunities for executive trustees. Increasing the scope of MMUnty engagement activities. suitable for all ages, and establishing roles for MMunity volunteers. Amplifying our social media footprint across various platforn, including Facebook, Twitter, Instagram. and YouTube. to bolster our visibility and influence in the community. Advancing our online presence to introduce inrM)vative donation options, thereby expanding donor partiapation and community benefts. spiring to posttion WMWA as a preemirtent faith-based organization by attracting exceptional talent to spearhead our initiatives and generate the necessary fvnds to support our endeavours. Page14
WORCESTER MUSUM WELFARE ASSOCIATION REPORT OF THE TRUSTEES for the year ended 31 March 2024 (¢ontinu•d> Prioritizing revenue generation through cA)mmitted team members, trustees, and volunteers to ensure the success of our projects. VOLUNTEERS Our volunteers play a vital role in our work to deliver our objectives. We have several h81pers throughout the year or as and when needed. ACHIEVEMENT AND PERFORMANCE WMWA has significantly contrÈbuted to community enrichment through: Conducting regular congregational prayers, drawing substantial daily attendance and a particularly large congregation on Fridays. Hosting monthly social events with ample provisions for Ihe communty, induding during noiable Islamic festivities. Offering comprehensFve funeral services that are sensitive to the Islamic faith, supporting bereaved farrFilies thiough thallenging titnes. Providing matrimonial (Nikah) serrftces for o)uples wishing to marry under Islamic tradition. Running educational programs for approximately 140 childr8n weekly. with extended classcs for tccnagers on weekends. The Stanley Road communlty centre serves as a hub ft)r varled local Initiallves, Including educational seminars. craft classes. frtness workshops. yOLrth programs. and private events. Engaging in philanthropic efforts. such as partnerships with local food banks, ntributIOnS to Ramadan collections. and supporting local homeless initiatives alongside the Salvation Army. Organizing year-round Islamic educational lectures for a diverse audience and conducting interfaith events to foster communal hamiony. Developing partnership programs that feature regular sessions from extemal advisors addressing topics pertinent to the communivs needs. Page15
WORCESTER MUSLIM WELFARE ASSOCIATION REPORT OF THE TRUSTEES for the year ended 31 March 2024 l¢ontlnued) GRANTS In Ihe lasl financial year, we collected funds for the Gaza appeal to provide financial assistsnce to the ongoing humanitsrian crisis, we collected £20,610 Once there is a safe corridor available to the charity to support work with an NGO, the money is still safe within the accounts of the charity. We are currently working with an agency to facilitate using the funds for food project and lIef. We aim to use these funds before the end of 2024. We still have funding from previous Pakistan Appeal done previous financial year which we are working to set a water well project with an established NGO who can assist whin the areas affected. Anything we do with Intemation project requires a lot of due diligen and research. Once we are happy and satisfied. we will therefore distribute funds for the projects. WMWA'S commitment to assisting those in need goes beyond financial support. The organization works closety with partner agencies and organizations to ensure that their efft)rts have a positive impaci and bring hope to vulnerable Communities. Their involvement includes providing resources such as food, clean water. medical assistsnce, shelter, sanitatton, bYgne, and psychosorial support. FINANCIAL REVIE¥V The Trustees report a surplus for the year of £331,007 (2023: £526,987), £30af,822 belng restricted funds, as detailed on note 11. RESERVE FUNDS The Truslees have a re8erveg policy for the CIO of holding enou9h fund8 to meet three to four months. operating costs. Restrtcted Funds Our cuent restricted funds are for the new Mosque of Light projert o)nstruction has started. continuation of furlher appeals will continue until the project is completed. Unrostrictod funds Our unrestricted funds a used as they fft within our CIO for day to day running of our obligations to our community members. These comprise of education fees. Friday collections, membershlps, and general donations from the community throughout the year without any appeals. Page16
WORCESTER MUSLIM WELFARE ASSOCIATION REPORT OF THETRUSTEES for the year ended 31 March 2024 {conttnued) TRUSTEES, RESPONSIBILMES The trustees are responsible for preparing the Trustees, Annual Report and the financial statements under applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to tharltles In England & Wales requlres the trustees to prepar8 financlal Slaternents for oach flnancial year whlch glve a true and falr vlew of the state of affaiTr of the CIO and of Ihe Incomlng resourcgs and appllcauon of resources of the CIO for that perlod. In prep8rlng these financl81 statements, the trustees are requlred to., select sultable accountlng pollcles and then apply them con51stently. observe the methods and prlnclples in Ihe Charltles SORP 2015 (FRS 102). make judgments and 8Stimates Ihat are reasonabl8 and prudent. state whether applicable aGcounting standards hav8 been followed, subject to any materlal departures disclosed and explain8d in the financlal statem8nts. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in op8ration, Th8 trustèes are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are 8atl8fied that they have complied with the above responsibilities. STATEMENT OF DISCLOSURE OF STATUTORY INFORMATION TO AUDITORS We, the Trustees of the CIO who held office at the date of approval of these financial statements aach conflrms, so far as we are awar8, that: there Is no relevant audlt informatlon of wttlch the CIO'S audltors are unaware. and wè have taken all the steps that we ought to have tak8n as trustees to make ourselves aware of any relevant audit information and to establish that the CIO'S auditors are aware of that information. AUDITORS A resolution to re-appoint Thomas Mcmanners as external auditors will be proposed at the annual general meeting. Approved by the Board Trust88s and signed on its behalf by-. M IQBAL SECRETARY Date . AS- 11. Q£) Page17
WORCESTER MU8LIM WELFARE ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WORCESTER MUSLIM WELFARE ASSOCIATION for the year ended 31 March 2024 Opinion We have audited the financlal aternents of Worcester Muslim Wdfare Association (the CIO) for the year ended 31 March 2023 which are set out on pages 11 to 19. The financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards, inrjuding FRS102 "The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion the financtal statements= give a true and fair view of the state of the CIO'S affairs as of 31 March 2023 and of its income and expenditure, for the year then ended. have been rAop8rly prepared und8r the United Klngdom Generally Accepted Accountlng Practice,. and have been prepared in accordance with the Charities Act 2011. Basls for oplnlon We ndUcted tjur audlt In accoraance witt) Iniemaiionai stsnoards on Auditing (UK) OSAS (UK)) and applicable law. Our rp.qponsibilities under those standards are further dascrib9d in the Auditor's responsibilities for the audit of the financial statemetts section of our rewrt. We are Indepenaent of the cio in accordan with the ethical requirements that are relevant to our audit of the financial ststements in the UK. including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in aGcordaIi wilh these requlrements. We believe Ihal the audil evidence we have Obtained is sufficient and appropriate to provide a basis for our opinion. ConGIuslons relatlng to going concern In auditing the finanaal statements, we have conduded Ihal Ihe L)Odtd's Use of the going concem basis of accounting in the preparats.on of the financial statements is aptwopriate. Based on the work we have perfomled, we have not identtfied any material uncertainties relating to events or conditions that. individually or cJ)Ilectively. may cast significant doubt on the association's ability lo continue as a going concem for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the board of trustees with respect lo going concern are described in the relevant secb'ons of this report. Other Inforniatlon The other infomation comprises the information indudad in the trustees. annual report, other than the financial statements and our auditoffs rep)rt thereon. The trustees are responsible for the other information contained wtthin the annual report. Our opinion on the financial statements does not cover the other information and. except to the extent othenwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Page18
WORCESTER MUSUM WELFARE ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WORCESTER MUSLIM WELFARE ASSOCIATION for the year ended 31 March 2024 {continued) Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial ststements. or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstatad. If w8 identify such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by •xeeptlon We have nothing to retK)rt in respect of the followÈng matters where the Chalities (AcAJ)unts arKI Report5) Regulations 2008 require us to report to you Ef. in our opinion: the Information given in the statwMnts is inconststent in any material respect wilh the report of the trustee5" or sufficient accounting records have not been k8Pt: or the financial siatements a rKJI in ag[eeml with the accounting reGrKds; IX wo have not ree*ived 811 the information and Èxplanations we require for our audit. Responsiblllties of the Trustees As explained more fully in the trustees, re5ponsibilits.es statement set out on page 7, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a truc and fair view, and for such intemal control as the trustegs detemiine is ne¢essary to anable the preparatlon of flnanclal statements Ihat are free frotn tnaterial Tllissialefflent, whether due lo fraud or error. In preparing the financial statements. the trustees are responsible for assessing the CIO'S ability to continue as a going concem. disclosing. as appIlble. matters related to going concem and using the going cOnM basis of accounting, unless the trustees e¢ther intend to liquidate the CIO or to cease operations or have no realistic altemative b(A to do so. Audttorfs responslbllltEe5 We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in accordance with regulations made under Section 154 of that Act. Our objectives are to obtain reasonable assurdnce about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error and to issue an auditor's report that indudes our opinion. Reasonable assurance ts a high level of assurance, but not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or effor and are considered material rf, individually or in the aggregate, they coukf reasonably be expected to influence the economic decisions of users taken based on these financial staternents. Page19
WORCESTER MUSLIM WELFARE ASSOCIATION INDEPENDENT AUDETOR'S REPORT TO THE TRUSTEES OF WORCESTER MUSLIM WELFARE ASSOCIATION lor the y•ar ended 31 March 20241contlnu•d) Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outtined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the Éxtent to which these are capable of detecting irregularities. including fraud are detailed below: review minutes of meetings of the trusteeslthose charged V•ith govemance reVW the operation of the CIO'S controls in relation to the preparation and psentatIon of management information check that the financial ststernents agree th8 actsjunting records ensurè, so far as is reasonably possible. the completeness of the CIO'S income revEw financial disclosures and test to supporting documentstion obtain third paty Gonfimiations of material balances understanding and evaluating management's controls in place to prevent and detect irregularities Because of the inherent limitatÉons of an audit. there is a risk that we will not detect all irregularities. including those leading to a rnaterial misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. A funher (Jescriptlon of our responsibilities for the audrt of the financial statements is located on the Financial Reporting Council's website at www.frc.or .uklauditorsres n6ibilitie& This description forms part of our auditorfs report. U8• of our rnport This report is made solely to the Twstees of Worcester Muslim Welfare Association. as a lyxly. in accordance with regulations made under Section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might stale to the CIO'S trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To tho fullest extent p8miittgd by law, we do not accepl or assume responsibilily io anyorie uitier ili<lli Ihe CIO ¢]nd it5 rnetnber5 as a body. for our audit work. for this report. or for th8 opinions we have fomied. Thomas Mcmanners Bsc ACA ACMI CA LTD Chartered Accountant and Registered Statutory Auditor 269 Farnborough Road Farnborough Hants GU14 7LY Date: 23 December 2024 Thomas Mcmanners is 91Ible lo act as an auditor in temis of sects.on 1212 Companies Act 2QO6. Page | 10
WORCESTER MUSUM WELFARE ASSOCIATION STATEMENT OF FINANCIAL ACTMTIES (including income and expendlture account) for the year ended 31 March 2024 Total Funds 2024 Totsl Funds 2023 Unrestricted Funds Restricted Funds Note Income from: Donations and legacies Charitable activities Investment income 151.133 48.288 26.860 900 305.822 456,955 48,288 26,860 900 649.999 50,259 22,385 12.085 Other income Total income 227,181 305,822 533,003 734,728 Expenditure on: Charitable aclivities Governance Gosts 194,008 7,918 194,008 7,918 205,084 2,857 Total resources expended 201.296 201,296 207,741 Net InGomlng resources Before transfers 25.255 305,822 331,077 526,987 Net incoming resources 25.255 305,822 331,007 526.987 Reconclllatlon of fvnds 10 Total funds brought forward 2.155.222 1,726,798 3,882,021 3.355,034 Funds Introduced Movement in funds Total funds carried forward 10 2.180.478 2.032.620 4.213,098 3,882,021 Pagel 11
WORCESTER MUSLIM WELFARE ASSOCIATION STATEMEKf OF FINANCIAL POSITION As of 31 March 2024 Note Unrnslricted Funds Rostrlcted Funds 2024 Yotal Funds 2023 Total funds Fixed assets Tangible assets Investments 1,775.790 2,205,216 3,981.006 3.521.042 Current Assets Debtors Cash at bank and in hand 2,985 251.128 2.985 251.129 3.284 378.592 254.114 254.114 381,876 Creditors Amounts falling due within one year {16,418) (16.418) (12.490) Net current assets 237.696 237,696 369.386 Total Asscts l¢ss Current Llabllltles 2.013,486 2,205,216 4,218,702 3.890,428 Creditors: Amounts falling ue after more than one year (5.604) {S,604} (8,407) Net Assets 2,007.882 2.205.216 4.213.098 3.882.021 Funds Unrestricted funds Restncted funds 2,180,478 2.032,620 2,155,223 1,726,798 Total Funds 10 4.213,098 3,882.021 These financial statements were approved by the Board of Tmstees and signed on ils behalf by". Chalrman: rls Sal88m Date: zsIIL- OLY Page | 12
WORCESTER MUSLIM WELFARE ASSOCIATION STATEMENT OF CASH FLOWS For Tho Year Ended 31 March 2024 2024 2023 Net Cash generated from operating activllles (see note (i) below) 351.455 541,744.7 Cashflow from investing activities Purchase of tangle and intsngibte fixed assets Interest reiVed (478,918) (639,193) Nèt Cash Oufflow from investing activities (478,918) (639.1931 Cash flow from financing activities Interest paid New secured loans Repayment of borrowings other financing movements Net Cash inflow from financing activities Net change in cash and cash equivalents (127,463) (97.448) Gash & cash equtvalents ai beginnlng of the year 371J,5W2 476,041 Cash & cash equivalent at end of thE year 251,129 378,592 Note Surplus for the year 331.076.9 526.987 Adjustments for non*ash items Depreciation of tangible fixed assets Amortisation of grants {Increaseydecrease in trade and other dabtors Increasel(Decrease) in trade and other creditor5 18,953.0 (2,803.01 299.7 3.928.3 18,853 (2.803) {176) (1,116) Net cash generated from operating activities 351,454.9 541,745 Page | 13
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 1. PRINCIPAL ACCOUNTING POUCIES GENERAL INFORMATION Worwter Muslim Weare Association is a Charitable Incorwrated Organisation (CIO) incorporated in England and is registered with The Charity Commission under the Charities Act 2011 and it constitutes a Public Benefit Entiiy as defined by FRS102. The address of the registered office is given in the reference and administrative details on pag8 2. BASIS OFACCOUNTING The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance wsth Accounting and Reporting by Charities: Statement of ReGommended Practice applicable to tharities preparing their accounts in accordan with the Financial Reporting Standard appIlble in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard appIlble in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared in sterling. The significant accounting policies applied in the preparation of these financial statements are set out below. These poliGies have been nSiStentIY applied to all years presented unless olhetwise stated. GOING CONCERN At the time of approving the accounts, the tTUStees havc rcasonable cxpcctation that thc CIO has adequate resources to contlnue In operatlonal exISten for the foreseeable future. Thus, the trustees continue to adopt thÈ g()ing cA)ncem basis of acmunting in preparing the accDunts. INCQMING RESOURCES All irrcoming resour$ a included in the Statement of Financial Activities when the CIO is legally entitled to the income and the amount can be quantified with reasonable accuracy. RESOURCES EXPENDED Expenditure is accounted for on an accrual basis and has been dassified under headings that aggregate all cost related to the rAtegory. INhere costs cannot be directly attributed to particular headings, they have been allocated to adiwties on a basis consistent with the use of resources. TAXATION The CIO is exempt from corporation tax on its charitable actlwties. It is not registered for VAT and so irrecoverable VAT is included under the related expenditure headings. Page | 14
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 (continued) ACCOUNTING POLICAES (continuod) TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impaimient losses. Cost includes costs directly attributable to making the asset operational. Depreciation of tangible fixed assets is provided at the folkjwing basis. oJnmencing with the year of acquisition at rates estimaled to write off their cc6t or valuation, less any resi(Jual value over the estimated useful lives which are as follows: Land Freehold property Computer equipment offi equipment Fixtures and fittings Not doprociated Over 100 years Over 5 years Over 10 years Over 10 years FUND ACCOUNTING Unrestricted funds can be used in accordance wrth the tharitable objectives at the discretion of the trustees. Restricted funds can only be used for restricted purrK)ses within thp nhjprts nf the CIO. Restridions arise when specified by the donor or when fvnds raiscd for restricted purp08es. GOVERNMEKf GRANTS Government grants include grants received from the Home Office. local authorities, and other government organisations. Government grants received for capital Ètems are recognised in income over the useful life of the assets (excluding land) under the accruals m(xlel. Grants relating to revenue are recognised in income and expenditure over the same period as the expenditure to which they relate once reasonable assurance has been gained that the CIO will comply with the conditions and that the funds will be reived. DEBTORS AND CREDrroRS RECEIVABLEIPAYABLE wrrHIN ONE YEAR Debtors and dItorS with no stated interest rate and r1Vable or payable within one year 8re recorded at transaction price. Any losses arising from impairment are reccMJnised in the statement of financial actTrvities in other administrative expenses. LEASES Rentals payable and receivable under operating leases are charged to the statement of financial activities on a straight-line basis over the perioj of the lease. Page | 15
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 (continued) INCOME 2024 2023 Donations Friday collections General donations New Mosque project Gift Aid Funeral Collectlon Pakistan Flood Appeal Turkeylsyria Earthquake Gaza and Palestine 54,390 55.035 305,822 21,098 45,496 31,525 520,070 19,219 3.115 25,115 5,459 20.610 456,955 649,g99 Charitable activities Education fees Chanlable events Amortisation of grant 40,325 5.160 2.803 39,566 2,803 48,288 50.259 other Incomé Grants received Rent weived Other 700 26,860 200 6.300 22,385 5,785 27,760 34,470 T¢)tal income 533,003 734,728 Analysis by funds: Unrestricted funds Restricted funds 227.181 305.822 214,648 520.070 533,003 734.728 Page | 16
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 (continued) A govemment grant of £26,095 was received from Ihe Home Office on 19 January 2018. An amount of £2,803 has been amorbsed in the year. with a balan of £5,604 being treated as deferred income (see notes 8 and 9) EXPENDuRE 2024 2023 Charitable activities Wages Education costs Grant expenditure Subscription Light and heat Office & general expenditures Telephone Janitorial Meals and refreshments Repairs Depreciation Advertisinq Consultancy feos In5uianGe Bank charges Other chgritable exp Funeral Expenditure Pakistan Flood Expenditure Turkeylsyria Earthquake 90.247 958 5,805 2,382 31.956 712 1.123 2.060 5.609 2.810 85,552 203 9,271 25,776 469 1,124 2,063 7,204 12,810 3.000 10,193 4,028 7,002 4,153 7,712 7,589 3,000 20,000 1,000 5,459 194.U08 205,0842 GovernanGe Auditors, remuneration Accountancy Legal and professional fees 4.800 2,218 900 2,657 7.918 2,657 Total expenditure 201.926 207,741 STAFF COSTS Wages and salaries Pensions defined contributions 89.033 1,214 84,381 1,171 90,247 85,552 The average number of employees during the year was 8 (2023: 10). Page | 17
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 (Continued) 5. TRUSTEES. REMUNERATION. EXPENSES AND BENEFrrs No Irustee received remuneration. expenses or other benefits in their capacty as a trustee for the year ended 31st Marth 2024 (2023- Nil). TANGIBLE FIXED ASSETS Freehold Land and Buildings Flxtures fittings and equipment Total Cost or value Introduced At 1 April 2023 Additions 3,576,798 478,418 38,841 500 3.615,639 478.918 At 31 MaiGh 2024 4,055,216 39,341 4,094,557 Depreclatlon At l April 2023 Charge for the year Disposals 74,006 14,13UU 20.591 4,153 94.597 18.953 At 31 March 2024 88.806 24,744 113,550 Net Book Value At 31 March 2024 3,966,410 14,597 3,981,007 At 31 March 2023 3,502,792 18,250 3,521,042 Page | 18
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 (continued) Investment in Subsidiary 2024 2023 At 1 April Addrtions At 31 March The investment in the Subsidiary is for the Special Purpose Vehicle (SPV) limrted company WMWA Design and Build company set up purposely to oversee the building of the Mosque of Light ojrrently a work in progress. (WIP) DEBTORS 2024 2023 Amounts reGoverable within one ycar. Prepayments and accxued income 2.985 3,284 2,985 3,284 CREDrroRS: Amounts falling due within one year 2024 2023 Accruals Other tsxes and social security Government grants- deferred income 12,573 1,042 2,803 9,437 250 2.803 16.418 12,490 10. CREDITORS: Amounts falling due after more than on• year 2024 2023 Government grants - deferred income 8,407 5.604 8,407 Page | 19
WORCESTER MUSLIM WELFARE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 (continued) 11. MOVEMENTS IN FUNDS 01414-23 Income Expenditure 31-03-24 Unrestricted funds Net incoming resources 2.485.019 227,181 (201,926) 2,180,478 2,485,019 227.181 (201,926) 2.180,478 Restrictod funds New Mi>sque project 1,726.798 305,822 2,032.620 1,726,728 305,822 2.032,620 Total Funds 3.882.021 533.003 (201,926) 4,213,098 12 ANALYSIS OF NET ASSETS BEfwEEN FUNDS Unrestricted Restricted Funds Funds 2024 Total 2023 Total Tangible fixed assets Cash Other current assetsl(liabililie5) Creditors due after more than on8 year 1.775,790 251.129 (13,433) (5.604) 2.205,216 3.981,006 251,129 (13,433) (5,604) 3,521,042 378,592 (9,2061 (8,407) 2.007.881 2.205,216 4,213,098 3,882.021 Page | 20
WORCESTER MUSLIM WELFARE ASSOCIATI(X4 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 (continued) 13. RELATED PARTY TRANSACTIONS A new subsidiary company. WMWA D&B Management Limited. was incorrK)rated as a trading limited co. 13083521 on 15 December 2020.- its purpos8 is to act as tha design and build contractor for the new Mosque of Light. During the year. IIWMA D&B Management Ltd carried out vrfork i)n behalf of WMWA CIO amounting to £478,418 (2023: £614.683). This is in relation to the professional fees for the new Mosque of Light. Page121