**Charity number: 1180757**
**The Milton Keynes Islamic and Cultural Association CIO**
**Trustees' report and financial statements**
**for the period ended 31 October 2020**
**The Milton Keynes Islamic and Cultural Association CIO**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative information|**1**|
|Trustees report|**2 - 3**|
|Independent examiners' report|**4**|
|Statement of financial activities|**5**|
|Balance sheet|**6**|
|Notes to the financial statements|**7 - 10**|
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Legal and administrative information**
## **Charity number**
1180757
## **Business address**
Al-Rawdha 401 South Row, Central Milton Keynes MK9 2PG
**Registered office** 7 Weybourne Road Broughton Milton Keynes MK10 9ND **Trustees** Mr Idris Abdinasir Mr Cabdihakim Maxamud Dhaqane Mr Ibrahim Abdulahi Abdiqadir Mr Mohamed Ali Wadad Mr Ahmed Sheikh Hassan Khalif Mr Farhaan Muhamed Awas
## **Accountants**
RUS Chartered Accountants 1190a-1192 Stratford Road Hall Green Birmingham B28 8AB
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Report of the trustees for the period ended 31 October 2020**
The trustees present their report and the financial statements for the period ended 31 October 2020. The trustees who served during the period and up to the date of this report are set out on page 1.
## **Structure, governance and management**
## _Governing Document_
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## _Organisational Structure_
The Charity has a management committee who has overall control and responsibility for policy and major decision making and all members of the committee are trustees. Dad to day management and responsibility for implenting policies is carried out by the trustees on a voluntary basis.
Membership of committee is open to all individuals over 18 years of age who are approved by the trustees. The trustees must accept applications for membership unless they consider that it would be in the best interets of the charity to refuse the application.
## _Risk Management_
The trustess 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.
## **Objectives and activities**
## _Objectives and aims_
The principle objectives of the charity are as follows:
The advancement of the Islamic religion in Milton Keynes and in particular the provision of facilities for a masjid, ceremonies, Muslim festivals and madrassa;
The advancement of education of persons of the Muslim faith resident in Milton Keynes;
To provide and assist in the provision of facilities for prayer, recreation and leisure time occupation of members of the muslim community in the interest of social welfare and with the objective of improving their condition of life: and;
Such other charitable purposes to benefit the Muslims in Milton Keynes area and the wider Muslim community as their trustees in their absolute discretion think fit.
## _Volunteers_
The Charity relies on the unpaid work of the trustees to further it's objectives.
## **Achievements and performance**
The Charity's biggest achievement was the purchase of the building, Al- Rawdha 401 South Row that is now a very popular Mosque and Education Centre.
## **Financial review**
_The incoming resources were £66,770 for the year ended 31st October 2020 and these were lower than the last year (2019 - £103,107). The outgoing resources totalled £37,492 compared to the last year's (2020 £22,235). The increase in outgoing expenses is due to increased fixed costs and charitable activities._
The Milton Keynes Islamic and Cultural Association CIO
Report of the trte*S
ror th¢ period ended 31 October 2020
Ststement of tr. rfsponsibilities
The tn26tres are $tSIble for preparÉng the Trusw%' Annual Rery)rt 8t rtnattei statements in accordancc with
applicable Idw and Ullited Kingdo Ac¢oulliing Si4Ddards luwi Kingdom Gcllctally Accep*d Accowxiin8 PI11¢¢1.
&pplicabl¢ To charities in EttglaLd and Wates rquAres trustees ro prepare fiDallcial siatcments for each financial
period which gtve a true and fair eW of Charity aTMI of the IornIng resources akd applic*ioTh of resources of the
charity fot that period. In preparing these fmaDciBI the t$1#5 required to".
select 5Uitabl¢ accoulltiDg policies and tlth appty COTL81.,
ob$er¥e the methoth aajd principks in the Charitie5 SORP.
make judgemenis and estima*s th* are re8soTJable pnJd¢Thr
state Wther 3ppIL"cable UK AccouDW Stand*ds have bee followed sobjea to atry tnateriat d¢PartU discloseLI
and cxplain¢d in the financial sta1¢]nts. and
prep* thE sia*JlleDts going concern b&sis' ttTdess it is inwropriak to tk ctwiiy will
coniinlle in operation.
The trustee5 are rcsportSLble for keepin8 aunting records which disc1 wryth rcasoJJabl¢ accuracy at any time
the financial positiort of the chariil athd enable them eThsure thai the fInancial sratewts comply with the Chartues
Act 1993 al the Chan"ry (Accoullts and Re[sI ReglatiO% 2(M)8. They ate al resjxbnsible for 5afeguatding the
&s%et% of the ehatity aNi nce for taking reLwable .w for preventiott 8Ni &teetion of fraud other
On behf of the board
¢>LQ
r Idris Abdlngs
Trustee
Date:
27- 08- 2L)21
The Mllton Keynes Lslamic aDd Cultural A&wciation CIO
Independent exaDIiDer's report to the trustee5 on the unaudiled fm4naal stalements of The
MiltOD Keynes Islamic and Cultural Aw)ciation CIO.
2020 8et out onpa8es 2 to 10.
As tre cbaritys t[SteI you arc responsible for & preparation of the acuunts, you c¢J$1der that the awjit requiretnellt
of section 4312) of the Chariti£s Act I3 (the Act). &8 by section 28 of ts Charities Act 2(K15 does not apply
atsd that w) ilnde0t examiDaÉion is needed. li is my resrKJnsibi]iry to examine the accoullts under sedion 43131(a) of
the W as atend. to fo]low the prredU$ laid dovrn in tFe Genera] DArttuons given by the Charity COM[s1on
ll¢[ s¢¢tion 43(7)(b) of the A¢ as annded. aJ)d to statr WhettpartiCular ojaners have come to my attentiO]L
Basts of Independent examIr'S statement
exWlli[t1oTI includ¢s a review tsf the a¢¢ountitig OrdS k¢pi by tFthrity attd a comp of the accounts preseDted
with those records. It incltths cousideT*ioD of ally i¢¢ms or disclosures io tk xcounts. and Seeking
evi(knce that would be rcquited in an audit and coDswDtly no opiDion 15 given as tts whetkn the accounts present a
to keep PTO a¢¢ounti•gTe¢ords in a¢¢ordatt¢¢ with se¢ti0tt41 ofthe ACL ar¥1
ofthe
haye not beeD or
MT RaTa Samar FCA
ICAEW
I1).1192 Stratford Ro*d
Green
CkrteredAccountsnts
1190A-I 194 Strattord Road
Bifmingham B28 8AB
+44 (0) 121 777 1200
InfoOrus.co.uk
www.ru5.co.uk
B28 8AB
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Statement of financial activities**
## **For the period ended 31 October 2020**
|**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**Notes**
**£**
**£**
**£**
**Incoming resources**
Incoming resources from generating funds:
Voluntary income
2
55,610
-
-
Funeral Funds
2
-
3,400
-
Grants Received
7,760
-
-
**Total incoming resources**
63,370
3,400
-
**Resources expended**
Funeral costs
-
3,395
-
Covid-19 Supports
1,450
Staff costs
3
18,796
-
-
Establishment costs
9,757
-
-
Accountancy fees
750
-
-
Legal and professional fees
45
-
-
Other office expenses
1,124
-
-
Depreciation and impairment
1,208
-
-
Bank charges
695
-
-
Travel
270
-
-
Donations - Other
-
-
-
**Total resources expended**
34,095
3,395
-
Total funds brought forward
80,872
-
722,108
**Total funds carried forward**
110,147
5
722,108|**Year**
**ended**
**31/10/20**
**Total**
**£**
55,610
3,400
7,760
66,770
3,395
1,450
18,796
9,757
750
45
1,124
1,208
695
270
-
37,490
802,980
832,260|**Period**
**ended**
**31/10/19**
**Total**
**£**
103,107
-
-|
|---|---|---|
|||103,107|
|||-
-
11,881
4,512
750
90
827
166
829
3,115
63|
|||22,233|
|||-|
|||802,982|
**The notes on pages 7 to 10 form an integral part of these financial statements.**
The on Keynes Islamie and Cultural AssotiatiOD CIO
Balance Sheet
at 31 Oclober 2020
3111•120
Flxed assets
Tattgibl¢
Current &
Cash ai bank and in hand
726.939
722,774
355.668
80.956
355.668
80.956
Credltvr5: amowits f*lllng
due wlthln one year
Net eurrtht assets
1250.3501
CT50)
105.318
80.2(
Ne¢ ats
832,257
802.980
Endowment funds
Resiri¢ied income funds
Unr¢5tr1ci 1Come fuyJ¥
722.108
722.108
110.144
80.872
Total funds
832.257
802,980
Th¢ fwancial Siatements Nrre approvcd by the tntste¢s sigJ*d on ihbY..
Mr IdrLs Abdln
Trnstee
D4te:
aJ-08-Lcill
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Notes to financial statements**
## **for the period ended 31 October 2020**
## **1. Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period and the preceding period.
## **1.1. Basis of accounting**
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP FRS 102 ) and the charities act 2011.
## **1.2. Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
## **1.3. Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **1.4. Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Land and buildings Not depreciated as maintained to a good standard - Fixtures, fittings and equipment 20% reducing balance
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Notes to financial statements**
## **for the period ended 31 October 2020**
## **2. Voluntary income**
|Donations
Job Retentiom Scheme Grants
Funeral Funds|**Year**
**ended**
**31/10/20**
**£**
55,610
7,760
3,400
66,770|**Period**
**ended**
**£**
103,107
-
-
103,107|
|---|---|---|
|**3.**
**Employees**
**Employment costs**
Wages and salaries
No employee received emoluments of more than £60,000 (2019 : None).|**Year**
**ended**
**31/10/20**
**£**
18,796|**Year**
**ended**
**31/10/20**
**£**
11,881|
|---|---|---|
||||
## **Number of employees**
The average monthly numbers of employees (including the trustees) during the period, calculated on the basis of full time equivalents, was as follows:
|full time equivalents, was as follows:|||
|---|---|---|
||**Year**|**Period**|
||**ended**|**ended**|
||**31/10/20**||
||**Number**|**Number**|
|Employees|3|3|
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Notes to financial statements**
## **for the period ended 31 October 2020**
|||||||**Land and**|**Land and**|**Land and**||**Fixtures,**|**Fixtures,**|**Fixtures,**|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**4.**|**Tangible fixed assets**|||||**buildings**|||**fittings and**||||||||||
||||||||**freehold**|||**equipment**|||||**Total**||||
|||||||||**£**|||**£**||||**£**||||
||**Cost**||||||||||||||||||
||At 1 November 2019||||||722,108|||832|||||722,940||||
||Additions|||||||-||5,373|||||5,373||||
||At 31 October 2020||||||722,108|||6,205|||||728,313||||
||**Depreciation**||||||||||||||||||
||At 1 November 2019|||||||-||166|||||166||||
||Charge for the period|||||||-||1,208|||||1,208||||
||At 31 October 2020|||||||-||1,374|||||1,374||||
||**Net book values**||||||||||||||||||
||At 31 October 2020||||||722,108|||4,831|||||726,939||||
||At 31 October 2019||||||722,108|||666|||||722,774||||
|**5.**|**Creditors: amounts falling due**||||||||||||||||||
||**within one year**|||||||||**31/10/20**|||||||||
|||||||||||**£**|||||**£**||||
||Amounts owed to group undertakings|||||||||249,600|||||-||||
||Accruals and deferred income|||||||||750|||||750||||
|||||||||||250,350|||||750||||
|**6.**|**Analysis of net assets between funds**||||||||||||||||||
|||**Unrestricted**|||**Restricted **|||**Endowment**|||||||**Total**||||
||||**funds**||||**funds**|||**funds**|||||**funds**||||
||||**£**||||**£**|||**£**|||||**£**||||
||Fund balances at 31 October 2020 as represented by:||||||||||||||||||
||Tangible fixed assets||726,939||||-|||-|||||726,939||||
||Current assets||355,668||||5|||-|||||355,673||||
||Current liabilities||(250,350|)|||-|||-|||||(250,350||)||
||||832,257||||5|||-|||||832,262||||
||Unrealised gains included in tangible fixed assets||-||||-|||722,108|||||722,108||||
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Notes to financial statements**
## **for the period ended 31 October 2020**
|**7.**|**Unrestricted funds**|**At**||||||||**At**|
|---|---|---|---|---|---|---|---|---|---|---|
|||**01 Nov**|**Incoming**||**Outgoing**||||**31**|**Oct**|
|||**2019**|**resources**||**resources**||||**2020**||
|||**£**||**£**|**£**|||||**£**|
|||80,870||63,370|(34,095|)|||110,145||
|**8.**|**Restricted funds**|**At**||||||||**At**|
|||**01 Nov**|**Incoming**||**Outgoing**||||**31**|**Oct**|
|||**2019**|**resources**||**resources**||||**2020**||
|||**£**||**£**|**£**|||||**£**|
||Funeral Funds|-||3,400|(3,395|)||||5|
|**9.**|**Endowment funds**||||**At**||||**At**||
||||||**2019**|||**2020**|||
||||||**£**|||||**£**|
||Unrealised gain on Fixed Assets||||722,108||||722,108||
## **10. Related party transactions**
The Charity received £249,600 from related charity "The Milton Keynes and Cultural Association" during the year.
## **The Milton Keynes Islamic and Cultural Association CIO**
**The following pages do not form part of the statutory accounts.**
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Detailed statement of financial activities**
## **For the period ended 31 October 2020**
|**Incoming resources**
**Incoming resources from generating funds:**
_Voluntary income_
Donations
Job Retentiom Scheme Grants
**Total incoming resources from generating funds**
**Total incoming resources**
**Resources expended**
**Costs of generating funds:**
**Cost of generating voluntary income**
_Donations_
Donations - Staff - Wages and salaries
Donations - Establishment - Light & heat
Donations - Establishment - Repairs & maintenance
Donations - Establishment - Insurance
Donations - Professional - Accountancy fees
Donations - Professional - Book-keeping services
Donations - Office - Telephone expenses
Donations - Office - Advertising
Bank charges
Travel
Donations - Other
_Legacies_
Covid-19 supports
Funeral costs
**Total cost of generating voluntary income**
**Fundraising trading:**
**cost of goods sold and other costs**
**Total costs of generating funds**|**Year**
**ended**
**31/10/20**
**£**
**£**
55,610
7,760
66,770
66,770
66,770
18,796
2,217
5,802
1,738
750
45
1,077
51
695
270
-
31,441
1,450
3,395
4,845
36,286
36,286|**Period**
**ended**
**£**
**£**
103,107
-
103,107
103,107
103,107
11,881
1,299
2,958
255
750
90
-
831
829
3,115
63
22,071
-
-
-
22,071
22,071|**Period**
**ended**
**£**
**£**
103,107
-
103,107
103,107
103,107
11,881
1,299
2,958
255
750
90
-
831
829
3,115
63
22,071
-
-
-
22,071
22,071|
|---|---|---|---|
||||103,107|
||||103,107|
||||103,107|
||||22,071
-|
||||22,071|
||||22,071|
## **The Milton Keynes Islamic and Cultural Association CIO**
## **Detailed statement of financial activities**
## **For the period ended 31 October 2020**
|**Charitable activities**
**Governance costs**
_Activities undertaken directly_
Office expenses - Other
Depreciation & impairment
**Total governance costs**
**Net incoming/(outgoing) resources for the period**|**Year**
**ended**
**31/10/20**
**£**
)
(2
1,208
1,206
1,206
29,278|**Period**
**ended**
**£**
)
(2
166
164
164
80,872|**Period**
**ended**
**£**
)
(2
166
164
164
80,872|
|---|---|---|---|
||||164|
||||80,872|