Charity number: 1180757
The Milton Keynes Islamic and Cultural Association CIO
Trustees' report and financial statements
for the year ended 31 October 2022
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
Page 1
The Milton Keynes Islamic and Cultural Association CIO
Report of the trustees for the year ended 31 October 2022
The trustees present their report and the financial statements for the year ended 31 October 2022. The trustees who served during the year 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 £215,231 for the year ended 31st October 2022 and these were lower than the last year (2021 - £65,679). The outgoing resources totalled £84,871 compared to the last year's (2021 - £43,461). The increase in outgoing expenses is due to increased fixed costs and charitable activities.
Page 2
The Mllton Keynes 181att ttd Association CIO Report of tbe trustees for the year eNded 31 Oetober 2022 St•tement of tru¥tea' rewslbili¢Ks I'be tTUStees are res5Mwibk for prqwing the Truths. Rert the il) 4wnl3JKc with Law applicable to cbariiies ID Engla1 atMI Wale5 requires th¢ to wep•re fits•181 for e&.h fitWLeial Y wthich give a tnx and fair view ofclwity and of the irthmi#JJ re¢¢8 8th1 application of r¢rANtytts of th¢ charity for (bat [. LD pt¢pariD8 tbrsr fuwKial th¢ tn]4cr• uc rcquircd w: s¢lwt juitabk tthi¢5 then apply thern((sIY• coniinue in op¢r•ion. Tbe trJste¢8 are reBpollsibl¢ for kpiD8 pmper Kthich di10 with retyjnabie 8ccuracy 8t any Itme thc financial position of thc fhgriiy aThJ cnablc thcrn to ensure th•t the financial statenxnts conTrly with ihe Charsii¢s Act 1993 and thc Charity IAcroutLts and Rep)ns) Re8ulativLq 2008. Tlw are also rL¥fA)nsible sthguardillg ¢h¢ as8cls of the chity alld hellce for tsking Teag)n•ble sws for the prcvenlion ar¥1 detethxm of frtt other Mr Idrli AbdlDa Tru8e Date:
The Milton Keyn¢$ l$lami¢ and Cultural Association CIO Independent examiner's report to the trustees on the un4udited financial statements of The Milton Keynes Islamic and Cultural Association CIO. I report on the aeeounts of The Milton Keynes Islamic and Culiural Association CIO for the year ended 31 October 2022 set out on pages 2 to l O. Respective responsibilities of trustees and independent oxamintr As the ¢harily's trustees you are responsible foT the preparation of the accounts. you consider that the audit requirem¢nt of section 43121 of the Charities Aci 1993 Ith¢ A¢tl, as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility io examine the a¢¢ounts under s¢¢tion 43(3llal of the Act. a5 amended; to follow th¢ proredures laid down in the General Directions given by the Charity Commission under seetion 43(7Kb} of the Act, as amended,. and to state whether particular matters have rotn¢ to my attention. Basis of independent examiner'$ $t#t¢ment My examination was Caied oiit in a¢¢ordance with the General Directions given by the Charity Commission. exatnination includes a review of the accoiinting records kept by ihe chariry and a ¢omparison of the accounis presented wilh ihose records. It also includes considerdtion of any unusual items or disclosllres in the accounts. and seeking explanations from you trustees concerning any such mattets. The pto¢edures undertaken do not provide all the ¢vid¢nce that would be required in an audit atjd consequently no opinion is given as to whether the accollnts pres¢ni a 'true and fajr view. and the report is limited to th05¢ tnatter5 set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention.. (i) which gives me reOnable Cause to believe that in any material respect the requirements.. to keep prop¢T accounting record5 in accordance with settiot) 41 of the Act; atjd to prepare accounts which a¢¢ord with the accounting records and to comply the accounting requirements of the Act have not been met.. or liil lo which, in my opinion, attention should be drawn in order to enable a proper understandin8 of the accounts to be reached. MrR# ECAEW 1190a-1192 Stratford Road H?11 Green Birmingham ar FCA s.fjr.4 R.)ad Piirrp.inghim B?A JAB 44 (QI 121 717 1200 Us.co.uk wvJw.rus.co.uk B28 8AB P4ge 4
The Milton Keynes Islamic and Cultural Association CIO
Statement of financial activities
For the year ended 31 October 2022
| Unrestricted Restricted Endowment funds funds funds Notes £ £ £ Incoming resources Incoming resources from generating funds: Voluntary income 2 215,231 - - Funeral Funds 2 - - - Total incoming resources 215,231 - - Resources expended Staff costs 3 48,708 - - Establishment costs 15,770 - - Motor and travelling expenses - - - Accountancy fees 1,100 - - Legal and professional fees 275 - - Communications and IT 396 - - Other office expenses 1,353 - - Depreciation and impairment 773 - - Bank charges 2,888 - - Motor and travelling 547 - - Printing, postage & stationary - - - Donations - Other 386 - - Religious events 12,675 - - Zakat Fitar - - Total resources expended 84,871 - - Total funds brought forward 132,358 5 722,108 Total funds carried forward 262,718 5 722,108 |
2022 Total £ 215,231 - 215,231 48,708 15,770 - 1,100 275 396 1,353 773 2,888 547 - 386 12,675 - 84,871 854,471 984,831 |
2021 Total £ 64,719 960 |
|---|---|---|
| 65,679 | ||
| 29,518 7,194 389 995 868 - 1,339 966 898 280 53 - - 960 |
||
| 43,460 | ||
| 802,980 | ||
| 854,471 |
The notes on pages 7 to 10 form an integral part of these financial statements.
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The Milton Keynes Islo& and clra1 A&qotlatlon CIO Balance $h¢et as at 31 October 2022 2022 2021 FiJ¢d Tonble a¥se Current assets Debtors C&8b at bank and in hwul 72S,973 14 510J21 14 379,083 510J35 379.097 Crodlior8: moullts f•lllDI due withln oHe year (250.7) (250.595) Net current Auets 259.635 128.502 Net aisets 984.835 854.475 Fund EndowThent 722,110 722,110 Unr¢yiri¢d incowk fith 10 262.no 132,360 984,835 8S4.475 oaL Mr Idrli AbdlnJtr Tru8tte D*tt". I <-ci-ZOL3 ThE n•teJ p•ge8 7 to 10 f•nD prt •f tknt
The Milton Keynes Islamic and Cultural Association CIO
Notes to financial statements
for the year ended 31 October 2022
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
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
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The Milton Keynes Islamic and Cultural Association CIO
Notes to financial statements
for the year ended 31 October 2022
| 2. Voluntary income Unrestricted funds £ Donations 215,231 Job Retentiom Scheme Grants - Zakat Fitar - 215,231 3. Employees Employment costs Wages and salaries No employee received emoluments of more than £60,000 (2021 : None). |
2022 Total £ 215,231 - - 215,231 2022 £ 48,708 |
2021 Total £ 58,230 6,489 960 65,679 2021 £ 29,518 |
|
|---|---|---|---|
Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
| 2022 Number Employees 5 Land and Fixtures, 4. Tangible fixed assets buildings fittings and freehold equipment £ £ Cost At 1 November 2021 and At 31 October 2022 722,108 6,205 Depreciation At 1 November 2021 - 2,340 Charge for the year - 773 At 31 October 2022 - 3,113 Net book values At 31 October 2022 722,108 3,092 At 31 October 2021 722,108 3,865 |
2021 Number 3 |
|---|---|
| Total £ 728,313 |
|
| 2,340 773 |
|
| 3,113 | |
| 725,200 | |
| 725,973 |
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The Milton Keynes Islamic and Cultural Association CIO
Notes to financial statements
for the year ended 31 October 2022
| 5. Debtors 2022 £ PAYE Balances Recoverable 14 6. Creditors: amounts falling due within one year 2022 £ Amounts owed to group undertakings 249,600 Accruals and deferred income 1,100 250,700 7. Analysis of net assets between funds Unrestricted Restricted Endowment funds funds funds £ £ £ Fund balances at 31 October 2022 as represented by: Tangible fixed assets 3,090 - 722,110 Current assets 510,330 5 - Current liabilities ) (250,700 - - 262,720 5 722,110 8. Unrestricted funds At 01 Nov Incoming Outgoing 2021 resources resources £ £ £ 132,360 215,231 ) (84,871 9. Restricted funds At 01 Nov 2021 £ Funeral Funds 5 |
2021 £ 14 2021 £ 249,600 995 250,595 Total funds £ 725,200 510,335 ) (250,700 984,835 At 31 Oct 2022 £ 262,720 At 31 Oct 2022 £ 5 |
|
|---|---|---|
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The Milton Keynes Islamic and Cultural Association CIO
Notes to financial statements for the year ended 31 October 2022
| 10. | Endowment funds | At | At | ||
|---|---|---|---|---|---|
| 01 Nov | Incoming | Outgoing | 31 Oct | ||
| 2021 | resources | resources | 2022 | ||
| £ | £ | £ | £ | ||
| Unrealised gain on Fixed Assets | 722,108 | - | - | 722,108 |
11. Related party transactions
There were no transactions recorded with the related charity "The Milton Keynes and Cultural Association" during the year.
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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 year ended 31 October 2022
| Incoming resources Incoming resources from generating funds: Voluntary income Donations Job Retentiom Scheme Grants Zakat Fitar 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 - Computer costs Donations - Professional - Accountancy fees Donations - Professional Fees Donations - Professional - Book-keeping services Donations - Office - Telephone expenses Bank charges Motor and travelling Printing, postage & stationary Donations - Other Religious events Legacies Zakat Fitar Governance Costs Depreciation & impairment Total costs of generating funds Net incoming/(outgoing) resources for the year |
2022 £ £ 215,231 - - 215,231 48,708 4,450 9,654 1,666 396 1,100 50 225 1,353 2,888 547 - 386 12,675 84,098 - - 773 773 84,871 130,360 |
2021 £ £ 58,230 6,489 960 65,679 29,518 2,652 2,941 1,601 389 995 598 270 1,341 898 280 53 - - 41,536 960 960 965 965 43,461 22,218 |
2021 £ £ 58,230 6,489 960 65,679 29,518 2,652 2,941 1,601 389 995 598 270 1,341 898 280 53 - - 41,536 960 960 965 965 43,461 22,218 |
|---|---|---|---|
| 65,679 | |||
| 41,536 960 965 |
|||
| 43,461 | |||
| 22,218 |
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