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2022-12-31-accounts

Muslim Association of Nigeria (UK) Report & Financial Statements For the year ended 31 December 2022

Charity no: 1179477

Muslim Association of Nigeria (UK) CRN:1179477

Contents

Charity information 2-3
Trustees report 4-7
Independent examiner’s report 8
Statement of financial activities 9
Balance sheets 10
Notes to the financial statements 11-16

1

Muslim Association of Nigeria (UK) CRN:1179477

Charity information

Charity number (CIO): 1179477

Executive Committee/ Management Trustees

Idris Eletu President Abdul-Jelil Oladejo Vice President Olatunde Sanusi Secretary General Kamaldeen Sadiku Assistant Secretary General Karamot Onitolo Treasurer Abosede Zainab Adewusi Financial Officer Saidat Oketunde Education Officer Teslim Akinpeju Publicity Officer Hassan Olawale Abdul-Ganiyu Press Officer Abdulrahman Amode Welfare Officer (Male) Mufidat Adeyemi Welfare Officer (Female) Olanrewaju Daud Social Officer (Male) Monsurat Oyenuga Social Officer (Female) Taofiq Akinpeju Youth Amir Jubril Sulayman Security/Health & Safety Officer Sherifat Ibrahim Elders’ Group Liaison Officer Tajudeen Salami Imam Adesina Alabi Ex-Officio 1 Abiola Ogunsola Ex-Officio 2

Holding Trustees: Alhaji Mudathir Yussuf (28/12/14-Present) Alhaji Ganiy Ajobo Bro Al-Ameen Amodu Alhaja Risikat Iyabo Mustapha Alhaja Kafayat Shofolahan

Chairman

Council for Religious

Affairs: Alhaji Tajudeen Salam Imam Alhaji K Abdul-Fatai Deputy Imam Alhaji Ola Yusuff Secretary Alhaji Taofeek Fagbohun Alhaji Lukmon Adesina Alhaji Sulaiman Ayetoro Alhaji Dhikrullah Mustapha Dr Akeem Adetunji Bro Uthman Adesina Alhaja M.B Elias

2

Muslim Association of Nigeria (UK) CRN:1179477

Location and

Correspondence: Old Kent Road Mosque MAN Building 365 Old Kent Road London. SE1 5JH

Independent Examiner: Maroof Adeoye MBA DChA FCIE MInstF Registered Charity Independent Examiner Accman & Co Accountants Maroof Suite 30 Union Road Croydon. CR0 2XU

Bankers: Lloyds TSB Camberwell Green Branch 25 Camberwell Green Road London. SE5 7AB Al Rayan Bank 44 Hans Crescent London. SW1X 0LZ

3

Muslim Association of Nigeria (UK) CRN:1179477

Trustees’ report

The trustees present their report along with the financial statements of the Charity for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 11 to 16 and comply with the charity’s constitution and applicable law. The association is a registered Charity and acts entirely as a non-profit making organisation.

Structure, Governance & Management

The charity is a Charitable Incorporated Organisation (CIO) Association with registration number 1179477 on 8 August 2018.

The trustees who have served during the year 2022 are set out on page 2. Board of Trustees are appointed at the Special General House Meeting upon the recommendation of the Executives. Members of the Board of Trustees who have served for two years may be re-appointed for another term. The Board of Trustees holds Trustees’ meetings at least three times a year while the Executive Committee met at least four times in a year and much more frequently if need be. The Executives deals with the day to day management of the association and report to the board of trustees for approval on major issues.

The trustees are very grateful to all the volunteers who helped in one way or the other, particularly those who are carrying out fund-raising on our behalf. The public have been generous with their donations towards the rebuild of the OKR Mosque.

The present Executive Committee/Management Trustees, that starts their tenure from the 19[th] December 2021 were:

Idris Eletu President Abdul- Jelil Oladejo Vice President Olatunde Sanusi Sec-General Karamot Onitolo Treasurer Zainab Adewusi Financial Officer Saidat Oketunde Educ. Officer Olanrewaju Daud Social Officer (M) Taofiq Akinpeju Youth Amir Hawwa Opeolu Youth Amirah Tajudeen Salami Imam Adesina Alabi Ex-Officio 1 Abiola Ogunsola Ex-Officio 2

4

Muslim Association of Nigeria (UK) CRN:1179477

Objectives & Activities

The association is a dynamic and forward thinking organisation, aims to promote any charitable purposes for the benefit of Muslims of Nigerian origin/residents in the United Kingdom, local community of the London Borough of Southwark at large and in particular: (I) the relief of poverty and distress, and (II) the advancement of the Islamic faith.

When planning our activities for the year, the trustees have considered the Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular the association try to enable ordinary people to live out their faiths as part of our community through the following activities: 5 daily prayers, Jumuah (Friday) prayers, Taraweeh (Night voluntary prayers during Ramadan), Eid (Festive) prayer, weekly prayer for remembrance of Allah (Dhikr), End of the month lectures, Elders’ dinner & lecture held every last Saturday of the month, Elders’ outing, Aqiqah (naming ceremony), Nikahi (marriage ceremony) & Janazah (burial rite), provision of Islamic education for adults and children, Youth Outing, lecture, Eid dinner, Conferences, Symposium, Workshops, various fundraising activities, provision of Iftar (meals for breaking fast), Dinners, Donation to the needy and use of the Associations’ hall for meetings and programmes by other organisations.

Achievements and Performance

The demands for the association’s services continue to widen in response to Muslim needs and public awareness of Islam. During the year the Association carried out the following activities considered to provide benefit to those who worship at the Mosque and the wider community of London Borough of Southwark and beyond:

The weekly online enlightenment programmes called (OYWB) to educate our members and all Muslims by extension on the various Islamic teachings and contemporary issues. The Elders Annual trips, Elders Annual Eid Party, Mosque Appeal Fundraising during Ramadan, Fundraising for different projects, Provision of Iftar for 30 days during Ramadan, Eid-el-Fitri dinner, Eid-el-Adha dinner, Tafsir Qur’an (Ramadan Lecture) every Saturday and Sunday during Ramadan, the Youths Annual External and Internal Camp. There were various Walimah Celebrations, weekly lectures, Friday Prayers and lectures, end of month prayers and lectures, quarterly recitation of the whole Qur’an and Counselling on various issues took place throughout the year. There was a number of Ash-shadah (declarations of faith by revert Muslim). Also were series of maintenance and general repairs to the Masjid (Mosque).

Grant & Donations

Those attending the Mosque have given generously to disaster appeals arising from natural calamities affecting various countries around the world. The Council for Religious Affairs continue to administer the receipt and distribution of Zakat in accordance with the teachings of Islam for the relief of those in need and destitute, while the Sadaqah were distributed for everybody in need.

5

Muslim Association of Nigeria (UK) CRN:1179477

Future Plan

The management of this organisation realised the need for the expansion of the MAN Building on 365 Old Kent Road to cater for the growing numbers of worshippers and have therefore commenced the rebuild of the centre to a more befitting, spacious six storeys modern edifice. The Project plan is in three phases and the first phase is ongoing. We will be seeking funds for the completion of this project from all Muslims individuals and Islamic international institutions.

The management will continue to appeal for maintenance funds to manage our temporary Mosque located at 460-462 Old Kent Road SE1 5AG in order to continue our worship and other activities unhindered before the completion of our Permanent site. The management also intend to continue providing services in a similar way and continue laying emphasis on propagation of Islam in accordance with the Qur’an and authentic Hadith and place great importance on sharing a good understanding of Islam with non-Muslims, neighbours and the general public whilst gaining an understanding of their faiths, cultures and traditions.

Financial Review

The charity registered number 327287 (“ the Transferor ”) agreed to merge with the charity CIO registered number1179477 (“ the Transferee ”) and to transfer all of its property to the Transferee on 31 December 2019 as detailed in the balance brought forward on 1 January 2022 in terms of surplus, assets and liabilities.

Our restricted funds raised towards rebuilding the existing Mosque or build a new multipurpose Mosque and Islamic Cultural Centre has strengthened by £295,177 (2021: £84,447) in 2022 due to extensive fundraising efforts towards rebuilding the Mosque.

Policy on Reserves

The trustees aim to maintain free reserves in unrestricted funds and have approved a policy of raising reserves to the level needed to cover three months operating expenditure, equivalent to £59,803 (2021: £62,482) in 2022. Our policy is, therefore, to continue building up our free reserves to the ideal level by means of annual operating surpluses and supplemented by general-purpose appeals from time to time. The unrestricted reserves of the Association at 31 December 2022 increased to £1,683 (2021: £174) was more compare to the target. It is anticipated that progress will be made further towards improving on this target in 2022 by the CIO. Any surplus funds which are not likely to be needed to pay for activities were invested to earn profit. At the end of the year our unrestricted reserves increased by £1,509 (2021: -£100,355) due to attracting more unrestricted funds for general purpose spending.

6

Muslim Association of Nigeria (UK) CRN:1179477

Risk Assessment

The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.

The Trustees annually review the risks that the charity faces. To date these have mainly related to:

The Trustees review these risks on an on-going basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. In particular, insurance cover is in place and the finances of the Mosque are kept under review.

Statement of Trustees Responsibilities

Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended during that year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for:

This report was approved by the Trustees on 30 October 2023 and signed on their behalf by:

Idris Eletu (President)

Executive Committee/Management Trustees

7

Muslim Association of Nigeria (UK) CRN:1179477

Independent Examiner’s report To the trustees of Muslim Association of Nigeria (UK)

I report to the charity trustees on my examination of the accounts of the Association for the year ended 31 December 2022, which are set out on pages 9 to 16.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Charity Independent Examiners (ACIE).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Maroof Adeoye MBA DChA FCIE MInstF Registered Charity Independent Examiner Accman & Co Accountants Maroof Suite, 30 Union Road Croydon, Surrey. CR0 2XU

Date: 30 October 2023

8

Muslim Association of Nigeria (UK) CRN:1179477

Statement Of Financial Activities for the year ended 31 December 2022

Unrestricted
Note
Funds
INCOMING RESOURCES
£
Incoming resources from
generated funds:
Voluntary Income
2
124161
Activities for generating funds
3
60132
Investment income
4
75
Incoming resources from
charitable activities
5
9830
Other incoming resources
46521
Total incoming resources
240719
RESOURCES EXPENDED
Cost of Generating Funds
Cost of generating voluntary income
6
128337
Fundraising trading costs
7
49902
Charitable activities
8
51271
Governance costs
9
9700
Other resources expended
-
Total resources expended
239210
Net incoming/(outgoing) resources
1509
Total funds brought forward
174
Total funds carried forward
15
1683
Restricted
Funds
£
469413
-
6739
-
-
476152
88967
-
-
92008
-
180975
295177
1201773
1496950
2022
Total
Funds
£
-
593574
60132
6814
9830
46521
716871
217304
49902
51271
101708
-
420185
296686
1201947
1498633
2021
Total
Funds
£
-
230889
49374
2
5737
7699
293701
276076
64996
19519
117912
-
478503
(184802)
1386749
1201947

All incoming resources are derived from continuing operations. The charity has no other gains or losses other than those recognised in the Statement of Financial Activities.

The notes on pages 11 to 16 form part of these financial statements.

9

Muslim Association of Nigeria (UK) CRN:1179477

Balance sheets as at 31 December 2022

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
12
Total current assets
Current Liabilities
Creditors:
amounts falling due within one year
13
Net current assets
Total Net Assets
Funds of the charity
Unrestricted income funds
14
Restricted income funds
14
Total funds
£
34000
75941
109941
678821
2022
2021
£
£
2067513
1084828
34000
497690
531690
414571
(568880)
117119
1498633
1201947
1683
174
1496950
1201773
1498633
1201947

The notes on pages 11 to 16 form part of these financial statements.

Approved by the board of trustees on 30 October 2023 and signed on its behalf by:

Idris Eletu (President) Executive Committee/Management Trustees Member

Karamot Onitolo (Treasurer) Executive Committee/Management Trustees Member

10

Muslim Association of Nigeria (UK) CRN:1179477

Notes to the financial statements

1. Principal accounting policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Accounting convention

The financial statements have been prepared in accordance with applicable accounting standards and under the historical cost accounting rules as modified by the inclusion of fixed asset investments at market value and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as set out in the Statement of Recommended Practice, the Charities SORP 2005 (Accounting and Reporting by Charities) and comply with the Charities (Accounts and Reports) regulations issued under the Charities Act 2011.

Funds accounting

Unrestricted funds comprise those funds, which the trustees are free to use in accordance with the charitable objects.

Restricted funds are funds, which have been given for particular purposes and projects. The restricted fund must be used wholly to rebuild existing mosque or acquire new premises or land to build a purpose build Mosque and Islamic Cultural Centre. Expenditure incurred in relation to the restricted funds is calculated in accordance with the claims for funding made by the charity to achieve it’s purpose.

Incoming resources

The income figure represents cash donations and grants from the public sector, companies, charitable foundations and private individuals received during the year. Income relating to specific periods is apportioned over the accounting periods to which it relates. All other income is recognised when received. Restricted income is used in accordance with specific restrictions imposed by donors.

Bank interest

Bank interest is recognised as incoming resources when it is credited to the bank statement. All bank interest is treated as unrestricted income to the general fund.

Resources expended

Expenditure is charged on an accrual basis, inclusive of irrecoverable VAT. The costs of activities in furtherance of the charity’s objects include the costs directly incurred in providing activities together with support costs. Support costs primarily related to the employment of staff involved in the delivery of service and the maintenance of premises and equipment in use. Where costs cannot be directly attributable to particular headings they have been allocated on a basis consistent with the use of resources. Other overheads have been allocated on the basis of the headcount.

Fixed assets and depreciation

Tangible fixed assets costing more than £200 are capitalised and included at cost including any incidental expenses of acquisition.

Depreciation is not charged on freehold building as the residual value is considered to be higher than the carrying value. Furniture and equipment is written down using reducing balance method of depreciation over their estimated useful economic lives.

Taxation

The association is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.

11

Muslim Association of Nigeria (UK) CRN:1179477

2. Voluntary income

Unrestricted
Funds
£
Donations
95444
Grants
25947
Subscriptions
2770
124161
3.
Activities for generating funds
Restricted
Funds
£
469413
-
469413
2022
2021
Total
Total
Funds
Funds
£
£
564857
149125
25947
78217
2770
3546
593574
230888
Unrestricted
Restricted
Funds
Funds
£
£
Markaz fees
52776
-
Markaz other income
7356
-
60132
0
4.
Investment income
Unrestricted
Restricted
Funds
Funds
£
£
Bank Deposit Profit Share
75
6739
75
6739
5.
Incoming resources from charitable activities
2022
Total
Funds
£
52776
7356
60132
2022
Total
Funds
£
6814
6814
2021
Total
Funds
£
47111
2263
49374
2021
Total
Funds
£
2
2
Unrestricted
Funds
Aqiqa and Nikah
Eids - Fitr and Adha
5205
Other Function Income - Ramadan
2144
Printing - Calendar and Prayer Book
386
Elders and Youth activities
2095
9830
Restricted
Funds
-
-
-
-
-
0
2022
2021
Total
Total
Funds
Funds
-
5205
1485
2144
2742
386
1510
2095
0
9830
5737

12

Muslim Association of Nigeria (UK) CRN:1179477

6. Cost of generating voluntary income

Unrestricted
Funds
£
Salaries& Wages Net
77396
PAYE-Tax & NIC
6271
Building Security
0
Casual Cleaners
0
Refuse Disposal
0
Pension
1673
Telephone
6904
Heating & Electricity & Rent
8683
Building Insurance
0
Building Rep&Maint
2297
Admin/Fundraising Exp
2497
Software exp
946
Bank Charges
2
Gift, ZakatFitr & Donations
1350
Van Expenses
0
Markaz Expenses
8354
Youth Expenses
1138
Welfare
0
Depreciation – furniture & equipment
2118
Sundries
8708
128337
Restricted
Funds
£
11979
71587
4953
198
250
0
0
88967
2022
2021
Total
Total
Funds
Funds
£
£
89375
79088
6271
18039
-
306
-
510
-
6560
1673
4730
6904
5354
80270
100387
-
44
2297
132
7450
12259
1144
4152
2
1428
1600
29523
-
369
8354
0
1138
0
-
4550
2118
2825
8708
5820
217304
276076

7. Fundraising trading costs

Unrestricted
Funds
£
Markaz Salaries & wages
48454
Pensions - Markaz
411
Employers NI&Pension contributions
1037
49902
Restricted
Funds
£
-
-
-
0
2022
2021
Total
Total
Funds
Funds
£
£
48454
63653
411
-
1037
1343
49902
64996

8. Charitable activities costs

Unrestricted
Funds
£
Functions expenses
28572
Ramadan expenses
1390
Eids expenses
19450
Postage & printing
511
Stationery
1348
51271
Restricted
Funds
£
0
-
-
-
-
0
2022
2021
Total
Total
Funds
Funds
£
£
28572
15237
1390
1895
19450
0
511
2048
1348
339
51271
19519

13

Muslim Association of Nigeria (UK) CRN:1179477

9. Governance

Legal and Professional Fees
Accountancy services charges
10.
Tangible assets
Buildings
Cost
£
At 1 January 2022
1076354
Additions
984803
Disposals
-
At 31 December 2022
2061157
Depreciation
At 1 January 2022
-
Disposals
-
Charge this period
-
At 31 December 2022
-
Net book value
At 31 December 2022
2061157
At 31 December 2021
1076354
11.
Debtors
Prepayment & accrued income
Other taxes and social security incl salary
Other Debtors - Loans
Unrestricted
Restricted
Funds
Funds
£
£
8825
92008
875
-
9700
92008
Vehicles
Furniture

£
£
14004
62323
-
0
-
-
14004
62323
13418
58251
-
-
147
1018
13564
59269
440
3054
587
4073
Unrestricted
Restricted
Funds
Funds
£
£
0
-
-
-
34000
-
34000
0
Unrestricted
Restricted
Funds
Funds
£
£
8825
92008
875
-
9700
92008
Vehicles
Furniture

£
£
14004
62323
-
0
-
-
14004
62323
13418
58251
-
-
147
1018
13564
59269
440
3054
587
4073
Unrestricted
Restricted
Funds
Funds
£
£
0
-
-
-
34000
-
34000
0
2022
Total
Funds
£
100833
875
101708
IT
equipment
£
44696
-
-
44696
40881
-
954
41835
2861
3815
2022
Total
Funds
£
-
-
34000
34000
2022
Total
Funds
£
100833
875
2021
Total
Funds
£
116562
1350
117912
2022
Total
£
1197377
984803
-
2182180
112549
-
2119
114667
2067513
1084828
2021
Total
Funds
£
-
34000
34000
2021
Total
£
446830
750547
-
101708
1197377
109724
-
2825
112549
1084828
337106
0

14

Muslim Association of Nigeria (UK) CRN:1179477

12. Cash at bank and in hand

Unrestricted
Restricted
Funds
Funds
£
£
Cash in hand
0
-
Treasurer/Main
400
-
Markaz
19175
-
FundRaise/OKR
8122
Maintence
4201
-
Elders
37612
-
Youth
2475
-
Welfare
3956
-
AlRayan
0
0
AlRayan
0
0
-
Interbank Transfer
67819
8122
13.
Creditors: amount falling due within one year
2022
Total
Funds
£
-
400
19175
8122
4201
37612
2475
3956
-
-
-
-
75941
2021
Total
Funds
£
0
5567
34838
370112
27499
40501
10305
2869
0
6000
-
497691
2022 2021
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
Creditors 25890 313336 339226 405872
Other taxes and social security incl salary 32760 32760 1824
accruals and deferred income 875 - 875 875
Other Creditors - incl. Janazah Deposit 0 305960 305960 6000
59525 619296 678821 414571
14.
Analysis of net assets between funds
2022 2021
Fund balances at 31 December 2022 Unrestricted Restricted Total Total
are represented by: Funds Funds Funds Funds
£ £ £ £
Tangible fixed assets 6356 2061157 2067513 1084828
Current assets 101819 8122 109941 531690
Current liabilities (59525) (619296) (678821) (414571)
Interbank Transfer (46967) 46967 - 0
Total incoming resources 1683 1496950 1498633 1201947

15

Muslim Association of Nigeria (UK) CRN:1179477

15. Statement of funds

Unrestricted
Funds
£
1 January 2022
174
Incoming resources
240719
240893
Resources expended
(239210)
31 December 2022
1683
2022
2021
Restricted
Total
Funds
Funds
£
£
£
1201773
1201947
1386749
476152
716871
293701
1677925
1918818
1680450
(180975)
(420185)
(478503)
1496950
1498633
1201947

16. Salaries & Wages

Unrestricted
Funds
£
Salaries/Wages
137829
NICy-er & Pensions-yer
9393
147222
Restricted
Funds
£
0
0
0
2022
2021
Total
Funds
£
£
137829
157775
9393
9078
147222
166853

No employee received emoluments of more than £20,000. The average weekly number of employees during the year was 13 (2021:15).

17. Trustees’ remuneration, benefits and expenses There was no remuneration, benefits or expenses to Trustees during the year.

18. Unrestricted fund closing balance

At the year end, the unrestricted funds are in surplus, amounting to £1,683 (2021: £174).

19. Related party transactions

There were no related party transactions during the year.

20. Independent examination and accountancy services

During the period, the cost of the examination was (Nil) and accountancy services were £875 (2021: £875).

21. Controlling Party

The charity is under the control of the charity’s trustees.

16