2023-12-31-accounts - Kurdish Islamic Center And Masjid Salahuddin

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KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN

Charity No. 1177758

Company No. CE013677

Trustees' Report and Unaudited Accounts

31 December 2023

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Contents

	Pages
Trustees' Annual Report		1
Statement of Financial Activities		2
Summary Income and Expenditure Account		3
Balance Sheet		4
Statement of Cash flows		5
Notes to the Accounts		6
Detailed Statement of Financial Activities	7 to to	13

Page 1

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN

Trustees Annual Report

CHARITABLE INCORPORATED ORGANISATION

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE013677

Charity No. 1177758

Principal Office

90 Town Road Hanley Stoke-on-Trent ST1 2LD

Registered Office

87-89 WATERLOO ROAD STOKE-ON-TRENT ST1 4NP

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

F. FARAGE I.O. SAIED

Accountants

SA ACCOUNTS PRACTICE 123 MOORLAND ROAD STOKE-ON-TRENT STAFFS ST6 1JH

OBJECTIVES AND ACTIVITIES

The purpose of the charity as set out in its government document is the advancement of Islamic religion and the advancement of education , In particular but not exclusively in the areas of Islamic teaching and the Arabic languages

The main activities undertaken in relation to those purposes to establish common ground to promote good relations between persons of different faiths and promoting knowledge and mutual understanding and respect of the beliefs and practices different religious faiths.

Page 2

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN

Trustees Annual Report

larger charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...

A larger charity must provide an explanation how the achievement of its aims will further its legal purposes...

A larger charity must provide an explanation of its strategies for achieving its stated aims and objectives...

A larger charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...

A larger charity should provide a more detailed explanation of its short-term and long-term aims and objectives...

PLANS FOR FUTURE PERIODS

A larger charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

F. FARAGE Trustee

31 December 2023

Page 3

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Statement of Financial Activities

for the year ended 31 December 2023

Unrestricted funds 2023 £ 903,616	Total funds 2023 £ 903,616	Total funds 2022 £ 488,722
903,616 59,279	903,616 59,279	488,722 75,550
59,279 -	59,279 -	75,550 -
844,337 -	844,337 -	413,172 -
844,337 -	844,337 -	413,172 (1)
844,337 1,032,763	844,337 1,032,763	413,171 619,592
1,877,100	1,877,100	1,032,763

Page 4

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Summary Income and Expenditure Account

for the year ended 31 December 2023

Income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year	2023 £ 903,616 903,616 59,279 59,279 844,337 844,337	2022 £ 488,722
		488,722
		75,550
		75,550
		413,172
		413,172

Page 5

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Balance Sheet

at 31 December 2023

Company No. CE013677 Notes 2023 £ Fixed assets Tangible assets 7 1,991,131 1,991,131 Current assets Cash at bank and in hand 43,950 43,950 Creditors:Amount falling due within one year 8 (190,481) Net current (liabilities)/assets (146,531) Total assets less current liabilities 1,844,600 Creditors:Amounts falling due after more than one year 9 32,500 Net assets excluding pension asset or liability 1,877,100 Total net assets 1,877,100 The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds 1,877,100 1,877,100 Reserves 10 Total funds 1,877,100	2022 £ 888,354
	888,354 110,859
	110,859 4,050
	114,909 1,003,263 29,500
	1,032,763
	1,032,763
	1,032,763
	1,032,763
	1,032,763

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2023 the company was entitled to exemption under section 477 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 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 December 2023

And signed on its behalf by:

F. FARAGE

Trustee

31 December 2023

Page 6

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Statement of Cash flows

for the year ended 31 December 2023

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Net cash used in investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2023 £ 844,337 191,531 1,035,868 (1,102,777) (1,102,777) - (66,909) 110,859 43,950 43,950 43,950	2022 £ 413,171 -
		413,171 (306,690)
		(306,690)

		-

		106,481
		4,378
		110,859

		110,859

		110,859

Page 7

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Notes to the Accounts

for the year ended 31 December 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 9

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 10

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN

Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Other expenditure Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs	Unrestricted £ 903,616 903,616 Unrestricted £ 7,917 - 26,909 19,810 4,643 59,279	Unrestricted funds 2022 £ 488,722 488,722 75,550 75,550 413,172 413,172 (1) 413,171 619,592 1,032,763 Total 2023 £ 903,616 903,616 Total 2023 £ 7,917 - 26,909 19,810 4,643 59,279	Total funds 2022 £ 488,722
			488,722 75,550
			75,550
			413,172
			413,172 (1)
			413,171 619,592
			1,032,763
			Total 2022 £ 488,722
			488,722
			Total 2022 £ 6,250 75 56,878 11,347 1,000
			75,550

Page 11

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Notes to the Accounts

6 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 7 Tangible fixed assets Cost or revaluation At 1 January 2023 Additions At 31 December 2023 Net book values At 31 December 2023 At 31 December 2022 8 Creditors: amounts falling due within one year Bank loans and overdrafts Other creditors 9 Creditors: amounts falling due after more than one year Other creditors 10 Movement in funds At 1 January 2023 Restricted funds: Unrestricted funds: General funds 1,032,763 Total funds 1,032,763	2023 7,917 7,917 2023 £ (22,000) 212,481 190,481 2023 £ (32,500) (32,500) Incoming resources (including other gains/losses ) £ 903,616 903,616	£ 888,354 1,102,777 1,991,131 1,991,131 888,354 Resources expended £ (59,279) (59,279)	2022 6,250
			6,250
			£ 888,354 1,102,777
			1,991,131
			1,991,131
			888,354
			2022 £ (22,000) 17,950
			(4,050)
			2022 £ (29,500)
			(29,500)
			At 31 December 2023 £ 1,877,100
			1,877,100

Page 12

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN

Notes to the Accounts

11 Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets Net current assets Creditors due in more than one year and provisions Reconciliation of net debt Cash and cash equivalents Bank loans Net debt	Unrestricted funds £ 1,991,131 (148,531) 32,500 1,875,100 At 1 January 2023 £	Restricted funds £ - 2,000 - 2,000 Cash flows £	Total £ 1,991,131 (146,531) 32,500
			1,877,100
			At 31 December 2023 £
	110,859	(66,909)	43,950
	110,859 22,000 22,000 132,859	(66,909) - - (66,909)	43,950 22,000
			22,000
			65,950

12 Reconciliation of net debt

13 Related party disclosures Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 13

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Detailed Statement of Financial Activities

for the year ended 31 December 2023

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Employee costs Salaries/wages Vehicles - General costs Premises costs Rent Rates Light, heat and power Premises cleaning Other premises costs General administrative costs, including depreciation and amortisation Bank charges Equipment expensed Equipment repairs and maintenance Sundry expenses Legal and professional costs Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other (Losses)	Unrestricted funds 2023 £ 903,616 903,616 903,616 7,917 7,917 - - - 252 26,254 100 303 26,909 25 17,904 1,260 621 19,810 4,643 4,643 59,279 59,279 - 844,337 844,337 -	Total funds 2023 £ 903,616 903,616 903,616 7,917 7,917 - - - 252 26,254 100 303 26,909 25 17,904 1,260 621 19,810 4,643 4,643 59,279 59,279 - 844,337 844,337 -	Total funds 2022 £ 488,722
			488,722
			488,722 6,250
			6,250
			75
			75
			6,000 1,502 49,376 - -
			56,878
			- 11,027 257 63
			11,347
			1,000
			1,000

			75,550
			75,550 -
			413,172
			413,172 (1)

Page 14

KURDISH ISLAMIC CENTRE AND MASJID SALAUDDIN Detailed Statement of Financial Activities

Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	844,337 1,032,763 1,877,100	844,337 1,032,763 1,877,100	413,171
			619,592
			1,032,763

Page 15