**REGISTERED COMPANY NUMBER: 11084296 (England and Wales) REGISTERED CHARITY NUMBER: 1179846**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
**FOR**
**THE ISLAMIC ASSOCIATION OF LINCOLN**
**THE ISLAMIC ASSOCIATION OF LINCOLN**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
**Page Report of the Trustees** 1 to 6 **Independent Examiner's Report** 7 **Statement of Financial Activities** 8 **Balance Sheet** 9 to 10 **Notes to the Financial Statements** 11 to 23 **Detailed Statement of Financial Activities** 24 to 25
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
The trustees, who are also directors of the charitable company for the purpose of the Companies Act 2006, present their annual report with the financial statements of the charitable company for the year end 31 December 2024. The trustees have adopted the provisions of 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 (FRS102) (effective 1 January 2019).
The financial statements comply with the charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and the Statement of Recommended Practice applicable to charities (FRS102).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Objectives and activities for the publics benefit.
The Islamic Association of Lincoln' objects and principal activities are set out in the charity’s constitution, adopted by special resolution passed on 21 October 2017, are summarised as follows:
- a) Arrange and hold congregational prayers and Islamic religious activities.
- b) Promote unity and joint activities among the Lincoln Muslim community.
- c) Conduct social, cultural and religious activities in accordance with Islamic tradition (and not against the Islamic tradition or teachings).
- d) Provide channels for better communication and understanding between Muslims in Lincoln and wider Lincoln community in general.
- e) Contribute to the local community by promoting and participating in projects related to areas and social concern.
- f) Provide services to members of the Muslim community relating to, for example, Islamic educations, Islamic marriage, birth, death and burials in accordance with Islamic teaching.
To do all such things, as are consistent with the above and charity law and which are considered as conducive to principal objects.
The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities summarised in achievement and performance below, provide benefit both of those who worship at the Mosque and wider community of Lincoln.
In deciding which activities, the charity will pursue, the trustee have had due regard to the guidance issued by the charity commission on public benefit.
## **OBJECTIVES AND ACTIVITIES**
## **Activities, Achievements and Performance**
As mentioned above the charity has continued the charitable work of the Islamic association. The charity carries out a range of activities in pursuance of its charitable aims.
We are very pleased that since the first purpose-built mosque in Lincolnshire opened its door in April 2018, Alhamdulillah, the number of worshippers attending regular prayers are constantly increasing. In order to accommodate worshipers, the mosque started arranging three Eid prayers and two Juma prayers. The mosque has dedicated praying halls for sisters, brothers and two additional halls for community activities/teaching for boys and girls. In addition, there are regular teaching/social activities for teenage boys, girls and adults.
Page 1
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **OBJECTIVES AND ACTIVITIES**
## **Activities, Achievements and Performance continued**
Arabic and Islamic studies are taught to children aged 5-16 on weekday evenings.
Daily five time prayers are conducted at our premises on Dixon street in our mosque while limited day prayers take place at Orchard Street, Lincoln.
Since the opening of the new mosque, all lectures and social functions have taken place there.
Knowledge about Islam and Muslim culture is disseminated to the general public vis distribution of leaflets, books and tapes. These are distributed free of charge.
Since the opening thousands of school children visited our new mosque and have learnt about Islam as part of their Religious Education teaching. In 2024, around 2000 school children and non-Muslims visited the mosque, which includes schools, Royal Air Force, the Lincolnshire Police, scouts, faith organisations and charitable organisations.
The Association launched a Food Bank Service during the COVID-19 pandemic to provide critical support to community members facing financial hardship. This essential service has continued its vital role without interruption since its inception.
Throughout 2024, we maintained a consistent weekly distribution of 35-40 food parcels, supplying nutritious staples to individuals and families in need. This aid is provided inclusively to all, serving Muslim and non-Muslim members of the community alike, including those of any faith or no faith **.** Looking forward, the Association remains dedicated to the ongoing operation and development of this essential service, ensuring it continues to serve as a reliable source of support for those in need.
The Association's commitment to our community extends far beyond food security. We provide integral support across a wide spectrum of life events, from offering counselling services for emotional well-being to managing ceremonial arrangements for funerals and weddings. This diverse range of programs ensures we can meet the varied and evolving needs of our members with compassion and professionalism
In 2024, the Association had nine employees, including five part-time teachers. In addition, the Association appointed a part-time Operations Manager.
## **FINANCIAL REVIEW**
## **Financial review**
The Statement of Financial Activities for the year ended 31 December 2024 shows incoming resources totalling £255,391 (2023: £194,733) and resources expended totalling £208,960 (2023: £148,560), resulting in net incoming resources totalling £46,431 (2023: £46,173).
As a result, the Charity's total funds have increased from £3,672,119 as at 31 December 2023 to £3,718,550 as at 31 December 2024.
We have a policy of recording donations and providing receipts so that we can claim gift aid in a correct manner, we are constantly improving our practices in financial management. In addition, we have regular standing order and cash/cheque donations to cover our day to day expenses including wages and salaries. We are very open and transparent in our accounts and now have a respectable Accountancy firm looking after our accounts. There is a dedicated volunteer treasurer on the committee and the trustees are very happy with company’s finances and accounts.
Page 2
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Reserves policy**
The trustees have reviewed the reserves of the charity. The policy is to hold enough funds to meet six months estimated operating costs of the Charity for the following year. This currently equates to approximately £29,850. The trustees consider that with little future capital expenditure planned, they are in a strong position to maintain the reserves at the level anticipated. At the balance sheet date, the free reserves of the charity were £3,671,326.
## **FUTURE PLANS**
The Islamic Association of Lincoln and the local Muslim community is very excited by the new Mosque which opened in 2018. We hope to continue to expand our activities in the future. The mosque has been open for school visits and we are planning to expand our services further and our Imam’s have started visiting schools to break barriers and raise awareness about religion. We have been planning to expand evening school services and plan to enrol more students. To assist with this a head of madrassa and a teacher have been appointed to help move the Charity forward in future years.
The Association has now 7 teachers involved in teaching of madrassa children. This helped to reduce the size of classes so we can focus on improving the quality of teaching.
The trustees have had detailed consultations with UK based scholars, to understand what we can do with the old Orchard Street Mosque. Some options were considered i.e. to build flats but after a detailed consultation, the trustees made recommendations that it would be the best for several reasons to maintain the masjid. This proposal was supported by trustees, all members of both Executive Advisory committees and both the imams. The Association had consulted the Planning department and the planning application was submitted in November 2024 and the Association is planning to start renovation work sometime in 2025.
We also have vision to work with members of the BAME community irrespective of religion or race, to see how we can of help and assistance in matters they may have difficulties with.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is a company limited by guarantee (registered number 11084296) which was incorporated on 27 November 2017 and achieved charitable status on 7 September 2018 (registered number 1179846).
The company was established under a Memorandum of Association which established the objects and powers of the charitable company which is governed by its Articles of Association.
## **Recruitment and appointment of new trustees**
As the Charity is incorporated as a company limited by guarantee, the Trustees are deemed to be Directors of the Charity.
As set out in the charity's Articles of Association new trustees or directors who are permitted by law to do so, may be appointed to be a director either by:
- a) A resolution of the Directors; or
- b) Elected by simple majority at an annual general meeting of the local Muslim community (such election to be arranged by the Directors).
All appointments are subject to suitable references, disclosure, and a declaration that the person is legally allowed to be a Trustee.
Page 3
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
The Islamic Association of Lincoln is organised so that its management committee of trustees meet regularly to manage its affairs and formulate policy.
All committee members have responsibility for certain areas, e.g. Chairman, Treasurer, Secretary, Social Officer, Education Officer and Maintenance Officer. Committee members work in collaboration and monthly meetings are held. Both brothers and sisters’ executive advisory committees report back to the trustees regularly. The Islamic Association of Lincoln regularly reviews its governance and structure. The association will establish new young boys and girls executive committee as outlined in the constitution.
## **Induction and training of new trustees**
## Induction
The Charity has a comprehensive induction process for all new Trustees.
This induction process includes the following procedures.
- a) Informing new Trustees of their role and responsibilities (including charity and company law).
- b) Providing new Trustees with a copy of the charity's memorandum and articles and association.
- c) Providing new Trustees with a copy of the charity's current business plan.
- d) Ensuring all new Trustees meet staff and co-workers.
- e) Ensuring all new Trustees are aware of the Charity's ethos.
## Training
Trustees regularly review their role and activities. Topics include governance, strategic planning, and new legislation.
All Trustees give their time voluntarily and receive no benefits from the Charity. Any expenses reclaimed from the Charity are set out in the notes to the financial statements. Trustees claimed no expenses during the year.
## **Risk management**
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The bank account has a complex mandate in place which means all cheques or invoice payments require two signatories and two signatories are required for any changes to the bank account such as setting up standing orders etc.
Trustees meet bi-monthly to receive reports on the work of the Charity and to monitor progress against the Charity's business plan. Good governance in our charity is fundamental to our success. We continue to achieve our charity's outcomes and aims through effective governance and the right leadership structures. Good governance enables us to support our charity's compliance with relevant legislation and regulations. It also promotes attitudes and a culture where everything works towards fulfilling the charity's vision. We use the Charity Governance Code to help us and our trustees to develop high standards of governance.
Everyday management and the delivery of the service is delegated so that decisions are made at the most appropriate level. Trustees continue to closely monitor, income and expenditure. The finance sub-committee, chaired by the Treasurer, monitors, and makes recommendations on issues in relation to the Charity's financial position.
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 4
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management continued**
The Trustees have examined the major strategic, business, and operational issues that the Charity faces. They confirm that systems are in place to enable regular reports to be produced so that necessary steps can be taken to reduce risks.
Every member of staff has a job description and receives regular supervision. Together, these make clear the role and responsibility of everyone in the organisation. The manager holds regular team briefings where information is shared, and practice issues are discussed.
## **Safeguarding Compliance**
The Association ensures children are safely looked after in the evening teaching classes and all teachers have appropriate training for safeguarding and children safety The Association arranged regular safeguarding and child protection training for teachers and committee members. The Association has a Madrassa liaison officer who acts as the first point of contact for parents and teachers. The officer liaises with the mosque committee and trustees in all matters of child protection. The headteacher has made necessary arrangements with the voluntary centre services at Lincoln City Council for the regular checking of DBS for our madrassa teachers. In the period covered by these financial statements, Trustees were not aware of any incidents that were required to be reported to the Charity Commission.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
11084296 (England and Wales)
## **Registered Charity number**
1179846
## **Registered office**
Lincoln Central Mosque & Cultural Centre Dixon Street Lincoln Lincolnshire LN6 7DA
## **Trustees**
Dr T Ahmed – Chairman M A Rafique Dr M Kamal Dr S A Gbadebo
## **Independent Examiner**
Hamid Bukhari FCCA 49 Monastery Drive Solihull Birmingham West Midlands B91 1DW
Page 5
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
**REFERENCE AND ADMINISTRATIVE DETAILS Bankers** Barclays Bank Plc Unit 1, City Office Park Tritton Road Lincoln Lincolnshire LN6 7DA
## **EVENTS SINCE THE END OF THE YEAR**
Information relating to events since the end of the year is given in the notes to the financial statements.
## **FUNDS HELD AS CUSTODIAN FOR OTHERS**
During the year ended 31 December 2024 The Islamic Association of Lincoln held £nil (2023: £nil) funds as a custodian for others.
Approved by order of the board of trustees on 29 September 2025 and signed on its behalf by:
__________________ Dr T Ahmed - Trustee
Page 6
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **Independent examiner's report to the trustees of The Islamic Association of Lincoln ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
__________________ **Hamid Bukhari FCCA** 49 Monastery Drive Solihull Birmingham West Midlands B91 1DW
Date: 29 September 2025
Page 7
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
Other trading activities
4
Investment income
5
**Charitable activities**
Education
6
**Total**
**EXPENDITURE ON**
**Charitable activities**
7
Charitable activities
Support costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**141,899**
**40,318**
**8,900**
**17,746**
**208,863**
**138,217**
**47,403**
**185,620**
**23,243**
**3,648,083**
**3,671,326**|Restricted
funds
£
**46,528**
**-**
**-**
**-**
**46,528**
**21,143**
**2,197**
**23,340**
**23,188**
**24,036**
**47,224**|**2024**
**Total**
**funds**
**£**
**188,427**
**40,318**
**8,900**
**17,746**
**255,391**
**159,360**
**49,600**
**208,960**
**46,431**
**3,672,119**
**3,718,550**|2023
Total
funds
£
166,151
4,185
8,130
16,267|
|---|---|---|---|---|
|||||194,733|
|||||108,207
40,353|
|||||148,560|
|||||46,173|
|||||3,625,946|
|||||3,672,119|
The notes form part of these financial statements
Page 8
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **BALANCE SHEET 31 DECEMBER 2024**
|Notes
**FIXED ASSETS**
Tangible assets
15
**INVESTMENTS**
Investment property
16
**CURRENT ASSETS**
Debtors
17
Prepayments
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
18
**NET CURRENT ASSETS/(LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
**3,487,193**
**122,231**
**13,909**
**2,868**
**54,766**
**71,543**
**(9,641)**
**61,902**
**3,671,326**
**3,671,326**|Restricted
funds
£
**-**
**-**
**-**
**4,702**
**43,925**
**48,627**
**(1,403)**
**47,224**
**47,224**
**47,224**|**2024**
**Total**
**funds**
**£**
**3,487,193**
**122,231**
**13,909**
**7,570**
**98,961**
**120,170**
**(11,044)**
**109,126**
**3,718,550**
**3,718,550**
**3,671,326**
**47,224**
**3,718,550**|2023
Total
funds
£
3,483,082
122,231
13,360
2,415
63,032
78,807
(12,001)
66,806
3,672,119
3,672,119
3,648,083
24,036
3,672,119|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
The notes form part of these financial statements
continued...
Page 9
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **BALANCE SHEET - continued 31 DECEMBER 2024**
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2025 and were signed on its behalf by:
__________________ Dr T Ahmed - Trustee
The notes form part of these financial statements
Page 10
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **BASIS OF PREPARING THE FINANCIAL STATEMENTS**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **INCOME**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **EXPENDITURE**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **TANGIBLE FIXED ASSETS**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Freehold property not provided - Investment property not provided Plant and machinery - 25% reducing balance Fixtures and fittings - 15% reducing balance Computer equipment - 33% on cost
## **TAXATION**
The charity is exempt from corporation tax on its charitable activities.
## **EMPLOYEE BENEFITS**
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
For defined contribution schemes the amount charged to the Statement of Financial Activities in respect of pension costs and other post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in
continued...
Page 11
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **EMPLOYEE BENEFITS – continued**
the balance sheet.
## **CASH AND CASH EQUIVALENTS**
Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.
## **FUND ACCOUNTING**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS**
Contributions to the personal pension schemes of certain employees are charged to the Statement of Financial Activities in the period in which they relate.
The assets of these personal pension schemes are held separately from those of the charitable company in independently administered funds.
## **INVESTMENT PROPERTY**
Investment property is measured using the fair value model and is stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities
## **FINANCIAL INSTRUMENTS**
The charity has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial statements.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
The Charity only has basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
## **COMPANY STATUS**
The charitable company is a company limited by guarantee. The members of the charitable company are the trustees named in the trustees' report. In the event of the charitable company being wound up the liability in
continued...
Page 12
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **COMPANY STATUS – continued**
respect of the guarantee is limited to £1 per member of the charitable company.
## **GOING CONCERN**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The expected income and expenditure is sufficient with the level of reserves for the charity to continue as a going concern.
## **2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.
## **3. DONATIONS AND LEGACIES**
|Donations
Gift Aid
Gifts in kind
Grants
Grants received, included in the above, are as follows:
City of Lincoln Council - Website development grant
City of Lincoln Council - Events, tourism and culture creative grant
City of Lincoln Council – Foodbank and household support grant||**2024**
**£**
**164,100**
**77**
**-**
**24,250**
**188,427**||2023
£
141,690
11,996
715
11,750|
|---|---|---|---|---|
|||||161,151|
|||**2024**
**£**
**-**
**-**
**24,250**
**24,250**||2023
£
1,000
2,500
8,250|
|||||11,750|
continued...
Page 13
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. OTHER TRADING ACTIVITIES**
|Car park income
Hall hire
**5.**
**INVESTMENT INCOME**
Rents received
**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Madrassa and other course
fees
Education|**2024**
**£**
**39,158**
**1,160**
**40,318**
**2024**
**£**
**8,900**
**8,900**
**2024**
**£**
**17,746**
**17,746**|2023
£
4,185
-|
|---|---|---|
|||4,185|
|||2023
£
8,130|
|||8,130|
|||2023
£
16,267|
|||16,267|
## **7. CHARITABLE ACTIVITIES COSTS**
|
Charitable activities
Support costs|Direct
Costs (see
note 8)
£
**159,360**
**-**
**159,360**|Support
costs (see
note 9)
£
**-**
**49,600**
**49,600**|Totals
£
**159,360**
**49,600**|
|---|---|---|---|
||||**208,960**|
continued...
Page 14
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|**DIRECT COSTS OF CHARITABLE ACTIVITIES**|||
|---|---|---|
|Imam salaries
Imam pension costs
Teachers’ salaries
Teachers’ pension costs
Administration salaries (partial gift in kind)
Event expenses
Funeral expenses
Congregation leaders
Dawah expenses
Donations
Food bank expenses
Islamic books|**2024**
**£**
**40,450**
**1,618**
**42,079**
**538**
**-**
**28,325**
**7,605**
**5,150**
**496**
**17,012**
**13,043**
**3,044**
**159,360**|2023
£
38,950
1,558
30,207
528
1,001
15,370
5,860
6,300
-
3,853
2,063
2,517|
|||108,207|
## **9. SUPPORT COSTS**
||Other||||
|---|---|---|---|---|
||support|Finance|Governance||
||costs|costs|costs|Totals|
||£|£|£|£|
|Support costs|**43,889**|**110**|**5,601**|**49,600**|
continued...
Page 15
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **9. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
|Cleaners’ salary
Rent, rates and insurance
Light and heat
Telephone, internet and fax
Printing, postage and stationery
Sundry and other costs
Staff training
Repairs and maintenance
Legal and professional fees
Subscriptions
Bank charges
Software
Cleaning and waste disposal
Depreciation of tangible fixed assets|**2024**
**Support**
**costs**
**£**
**6,660**
**5,511**
**14,127**
**641**
**263**
**394**
**-**
**12,031**
**5,601**
**491**
**110**
**320**
**1,751**
**1,700**
**49,600**|2023
Support
costs
£
4,920
3,253
9,737
652
429
1,754
1,755
7,391
4,797
359
561
360
2,218
2,167|
|---|---|---|
|||40,353|
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2024**|2023|
|---|---|---|
||**£**|£|
|Depreciation - owned assets|**1,700**|2,167|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **TRUSTEES' EXPENSES**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
continued...
Page 16
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **12. STAFF COSTS**
|Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
Cleaner
Teachers’ and congregation
No employees received emoluments in excess of £60,000.||**2024**
**£**
**89,188**
**2,156**
**91,344**
**2024**
-
**1**
**8**
**9**||2023
£
75,078
2,086|
|---|---|---|---|---|
|||||77,164|
|||||2023
1
1
8
10|
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Charitable activities**
Education
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
Support costs
**Total**
**NET INCOME/(EXPENDITURE)**|Unrestricted
funds
£
145,437
4,185
8,130
16,267
174,019
100,284
40,353
140,637
33,382||Restricted
funds
£
20,714
-
-
-
20,714
7,923
-
7,923
12,791|Total
funds
£
166,151
4,185
8,130
16,267
194,733
108,207
40,353|
|---|---|---|---|---|
||||||
||||||
|||||148,560|
|||||46,173|
continued...
Page 17
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
3,614,701
3,648,083|Restricted
funds
£
11,245
24,036|Total
funds
£
3,625,946|
|---|---|---|---|
||||3,672,119|
## **14. PENSION COMMITMENTS**
The Charity contributes to the individual pension plans of certain employees. The assets of these schemes are held separately from those of the Charity in independently administered funds.
Total contributions made by the Charity during the year ended 31 December 2024 amounted to £2,156 (2023: £2,086) and outstanding contributions as at 31 December 2024 amounted to £3,694 (2023: £4,032).
## **15. TANGIBLE FIXED ASSETS**
|
**COST**
At 1 January 2024
Additions
At 31 December 2024
**DEPRECIATION**
At 1 January 2024
Charge for year
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|
Computer
equipment
£
**1,140**
**-**
**1,140**
**1,140**
**-**
**1,140**
**-**
-|
Freehold
property
£
**3,471,746**
**5,811**
**3,477,557**
**-**
**-**
**-**
**3,477,557**
3,471,746|Furniture,
Fittings
and Plant and
equipment machinery
£ £
**8,824**
**10,778**
**-**
**-**
**8,824**
**10,778**
**4,560**
**6,536**
**640**
**1,060**
**5,200**
**7,596**
**3,624**
**3,182**
4,264
4,242|Furniture,
Fittings
and Plant and
equipment machinery
£ £
**8,824**
**10,778**
**-**
**-**
**8,824**
**10,778**
**4,560**
**6,536**
**640**
**1,060**
**5,200**
**7,596**
**3,624**
**3,182**
4,264
4,242|
|---|---|---|---|---|
|||||**10,778**|
|||||**6,536**
**1,060**|
|||||**7,596**|
|||||**3,182**|
|||||4,242|
continued...
Page 18
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
|**15.**
**TANGIBLE FIXED ASSETS - continued**
**COST**
At 1 January 2024
Additions
At 31 December 2024
**DEPRECIATION**
At 1 January 2024
Charge for year
At 31 December 2024
**NET BOOK VALUE**
**16.**
**INVESTMENT PROPERTY**
**COST**
At 1 January 2024
Additions
At 31 December 2024
**NET BOOK VALUE**
**17.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
At 31 December 2024
At 31 December 2023
At 31 December 2024
At 31 December 2023||Short
leasehold
£
**2,830**
**-**
**2,830**
**-**
**-**
**-**
**2024**
**£**
**12,906**
**1,003**
**7,570**
**21,479**
**2,830**
2,830|Total
£
**3,495,318**
**5,811**|Total
£
**3,495,318**
**5,811**|
|---|---|---|---|---|
||||**3,501,129**||
||||**12,236**
**1,700**||
||||**13,396**||
||||**3,487,193**||
||||3,483,082||
||||
|Total
£
**122,231**
**-**|
|||||**122,231**|
|||||**122,231**|
|||||122,231|
|||||2023
£
12,357
1,003
2,415|
|||||15,775|
continued...
Page 19
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Accruals and deferred income
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Food bank
Funerals
Investment property
Website grant
Events, tourism and culture creative grant
Dawah
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Food bank
Funerals
Investment property
Website grant
Events, tourism and culture creative grant
Dawah
**TOTAL FUNDS**|
At 1.1.24
£
**3,648,083**
**3,648,083**
**12,682**
**2,565**
**5,289**
**1,000**
**2,500**
**-**
**24,036**
**3,672,119**
Incoming
resources
£
**208,863**
**208,863**
**32,368**
**12,120**
**-**
**-**
**-**
**2,040**
**46,528**
**255,391**||**2024**
2023
**£**
£
**3,730**
679
**2,594**
4,032
**4,720**
7,290
**11,044**
12,001
Net
movement
in funds
At 31.12.24
£
£
**23,243**
**3,671,326**
**23,243**
**3,671,326**
**19,325**
**32,007**
**4,440**
**7,005**
**(1,784)**
**3,505**
**(338)**
**662**
**-**
**2,500**
**1,545**
**1,545**
**23,188**
**47,224**
**46,431**
**3,718,550**
Resources Movement
expended
in funds
£
£
**(185,620)**
**23,243**
**(185,620)**
**23,243**
**(13,043)**
**19,325**
**(7,680)**
**4,440**
**(1,784)**
**(1,784)**
**(338)**
**(338)**
**-**
**-**
**(495)**
**1,545**
**(23,340)**
**23,188**
**(208,960)**
**46,431**|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
|||||
## **19. MOVEMENT IN FUNDS**
continued...
Page 20
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **19. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|
At 1.1.23
£
**Unrestricted funds**
General fund
3,614,701
3,614,701
**Restricted funds**
Food bank
5,721
Funerals
235
Investment property
5,289
Website grant
-
Events, tourism and culture creative grant
-
11,245
**TOTAL FUNDS**
3,625,946
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
174,019
174,019
**Restricted funds**
Food bank
9,024
Funerals
8,190
Investment property
-
Website grant
1,000
Events, tourism and culture creative grant
2,500
20,714
**TOTAL FUNDS**
194,733|Net
movement
in funds
At 31.12.23
£
£
33,382
3,648,083
33,382
3,648,083
6,961
12,682
2,330
2,565
-
5,289
1,000
1,000
2,500
2,500
12,791
24,036
46,173
3,672,119
Resources Movement
expended
in funds
£
£
(140,637)
33,382
(140,637)
33,382
(2,063)
6,961
(5,860)
2,330
-
-
-
1,000
-
2,500
(7,923)
12,791
(148,560)
46,173|Net
movement
in funds
At 31.12.23
£
£
33,382
3,648,083
33,382
3,648,083
6,961
12,682
2,330
2,565
-
5,289
1,000
1,000
2,500
2,500
12,791
24,036
46,173
3,672,119
Resources Movement
expended
in funds
£
£
(140,637)
33,382
(140,637)
33,382
(2,063)
6,961
(5,860)
2,330
-
-
-
1,000
-
2,500
(7,923)
12,791
(148,560)
46,173|
|---|---|---|
|||33,382
6,961
2,330
-
1,000
2,500|
|||12,791|
|||46,173|
continued...
Page 21
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **19. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|
**Unrestricted funds**
General fund
**Restricted funds**
Food bank
Funerals
Investment property
Website grant
Events, tourism and culture creative grant
Dawah
**TOTAL FUNDS**|
At 1.1.23
£
3,614,701
3,614,701
5,721
235
5,289
-
-
-
11,245
3,625,946|Net
movement
in funds
At 31.12.24
£
£
56,625
3,671,326
56,625
3,671,326
26,286
32,007
6,770
7,005
(1,784)
3,505
662
662
2,500
2,500
1,545
1,545
35,979
47,224
92,604
3,718,550|
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Food bank
Funerals
Investment property
Website grant
Events, tourism and culture creative grant
Dawah
**TOTAL FUNDS**|Incoming
resources
£
382,882
382,882
41,392
20,310
-
1,000
2,500
2,040
67,242
450,124|Resources Movement
expended
in funds
£
£
(326,257)
56,625
(326,257)
56,625
(15,106)
26,286
(13,540)
6,770
(1,784)
(1,784)
(338)
662
-
2,500
(495)
1,545
(31,263)
35,979
(357,520)
92,604|
|---|---|---|
continued...
Page 22
**THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **19. MOVEMENT IN FUNDS - continued**
## **Purpose of funds**
## General fund
This fund represents the free funds of the Charity that are not designated for particular purposes.
## Funerals
This fund represents donations received specifically for funerals to undertake burial and graveyard costs.
## Food bank
This fund represents donations received specifically to replenish our food bank.
## Investment property
This fund represents donations received specifically to maintain the investment property.
## Dawah
This fund represents donations received specifically for sharing the teachings of Islam.
- City of Lincoln Council Website grant
This fund represents grants received specifically to maintain our website.
- City of Lincoln Council Events, tourism and culture creative grant This fund represents grants received specifically for religious events.
- City of Lincoln Council Foodbank and household support grant This fund represents grants received specifically for our food bank.
## **20. RELATED PARTY DISCLOSURES**
During the year ended 31 December 2024 the following donations were received from the Trustees/Directors:
|Dr T Ahmed – Chairman
Mr A Rafique
Dr M Kamal
Dr S A Gbadebo|**2024**
**£**
**1,240**
**300**
**2,100**
**300**
**3,940**|2023
£
1,039
300
3,350
440|
|---|---|---|
|||5,129|
## **21. ULTIMATE CONTROLLING PARTY**
The Charity is controlled by the Trustees as listed in the Report of the Trustees.
Page 23
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift Aid
Gifts in kind
Grants
**Other trading activities**
Car park income
Hall hire
**Other trading activities**
Rents received
**Charitable activities**
Madrassa and other course fees
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
**Direct costs**
Imam salaries
Imam pension costs
Teachers’ salaries
Teachers’ pension costs
Administration salaries (partial gift in kind)
Event expenses
Funeral expenses
Congregation leaders
Donations
Food bank expenses
Dawah costs|**2024**
**£**
**164,100**
**77**
**-**
**24,250**
**188,427**
**39,158**
**1,160**
**40,318**
**8,900**
**8,900**
**17,746**
**17,746**
**255,391**
**40,450**
**1,618**
**42,079**
**538**
**-**
**28,325**
**7,605**
**5,150**
**17,012**
**13,043**
**495**|2023
£
141,690
11,996
715
11,750|
|---|---|---|
|||166,151
4,185
-|
|||4,185
8,130|
|||8,130
16,267|
|||16,267
194,733
38,950
1,558
30,207
528
1,001
15,370
5,860
6,300
3,853
2,063
-|
This page does not form part of the statutory financial statements
Page 24
## **THE ISLAMIC ASSOCIATION OF LINCOLN (REGISTERED NUMBER: 11084296)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Charitable activities**
**Direct costs**
Brought forward
Islamic books
**Support costs**
Cleaners’ salary
Rent, rates and insurance
Light and heat
Telephone, internet and fax
Printing, postage and stationery
Sundry and other costs
Staff training
Repairs and maintenance
Subscriptions
Software
Cleaning and waste disposal
Depreciation of tangible fixed assets
**Finance costs**
Bank charges
**Governance costs**
Legal and professional fees
Total resources expended
**Net income/(expenditure)**|**2024**
**£**
**156,315**
**3,045**
**159,360**
**6,660**
**5,511**
**14,127**
**641**
**263**
**394**
**-**
**12,031**
**491**
**320**
**1,751**
**1,700**
**43,889**
**110**
**110**
**5,601**
**5,601**
**208,960**
**46,431**|2023
£
105,690
2,517|
|---|---|---|
|||108,207
4,920
3,253
9,737
652
429
1,754
1,755
7,391
359
360
2,218
2,167|
|||34,995
561|
|||561
4,797|
|||4,797
148,560|
|||46,173|
This page does not form part of the statutory financial statements
Page 25