REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 FOR MARKAZ US-SUNNAH
MARKAZ US-SUNNAH
CONTENTS OF THE FINANCIAL STATEMENTS THE YEAR ENDED 30 SEPTEMBER 2022
| Charity Information | 1 |
|---|---|
| Report of the Trustees | 2 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to Financial Statements | 7 |
| Detailed Statement of Financial Activities | 9 |
MARKAZ US-SUNNAH
CHARITY INFORMATION THE YEAR ENDED 30 SEPTEMBER 2022
| Trustees: | Mr Yasser Ali |
|---|---|
| Mr Abderrahman Mehbali | |
| Mr Imran Janjooa | |
| Mr Fahim Ashraf | |
| Mr Yusuf Osman | |
| Principal Address: | 500a Sunleigh Road |
| Wembley, Middlesex | |
| HA0 4NF | |
| Registered Charity Number: | 1181716 |
| Independent Examiner: | Syed Accountants |
| 67 Lancelot Crescent | |
| Wembley, Middlesex | |
| HA0 2AX |
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MARKAZ US-SUNNAH
REPORT OF THE TRUSTEES THE YEAR ENDED 30 SEPTEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 30 September 2022. 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 (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Markaz Us-Sunnah is established as a Charitable Incorporated Organisation (CIO) and is controlled by its governing document, the constitution dated 1 January 2018.
Risk management and investment policy
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 trustees have made no risk related investments. A formal review is undertaken regularly to ensure that all surplus funds are invested in bank and building society accounts at best rates of interest.
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MARKAZ US-SUNNAH
REPORT OF THE TRUSTEES - CONTINUED THE YEAR ENDED 30 SEPTEMBER 2022
OBJECTIVES AND ACTIVITIES
Charitable objective
The object of the Charity is to advance the religion of Islam in the South East of England and North West Greater London, for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, provision of education including instruction of religious practices to minors and adults in the religion of Islam, producing, sale and/or distribution of books and literature on Islam to enlighten others about the religion of Islam.
Activities and events during the year
The Charity has served the community by undertaking the following activities:
-
Pubic celebrations in local parks on the occasion of Eid. the charity held Eid congregations in the park twice and has increased recognition of the community work.
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Regular propagation stalls encouraging anti-extremism. We invest our time and effort on a weekly program in setting up stalls for free distribution of leaflets and booklets calling to the religion of Islam and promoting anti-extremism.
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Holding lectures and conferences for all ages and sexes, teaching the correct manners and cohesion in society.
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Allow free public access to a library of literature at our premises.
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Holding annual barbecues for the youth of our community.
FINANCIAL REVIEW
During the year the Charity received total donations of £80,018. The net deficit of the charity for the year was (£6,821). Total funds as at the balance sheet date were £63,146.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Approved by order of the board of trustees on 7 Feb 2022 and signed on its behalf by:
Mr Fahim Ashraf - Trustee
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MARKAZ US-SUNNAH
INDEPENDENT EXAMINER'S REPORT THE YEAR ENDED 30 SEPTEMBER 2022
I report on the accounts for the year ended 30 September 2022, which are set out on pages four to eight.
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 have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the 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.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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1) that accounting records were not kept as required by section 130 of the Act; or
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2) that the accounts do not accord with those records; or
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3) that the accounts do not comply with the accounting requirements of the Act; or
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4) that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Syed Accountants 67 Lancelot Crescent Wembley, Middlesex HA0 2AX
7th February 2023
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MARKAZ US-SUNNAH
STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 30 SEPTEMBER 2022
| INCOMING RESOURCES Income and endowment from: Donations and legacies Government grants Total incoming resources RESOURCES EXPENSED Expenditure on Raising funds Charitable activities Governance costs Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted fund £ 80,018 - 80,018 - 84,678 2,160 86,839 (6,821) 69,967 63,146 |
2021 Unrestricted fund £ 69,821 27,286 |
|---|---|---|
| 97,107 | ||
| 612 83,572 1,221 |
||
| 85,405 | ||
| 11,702 58,265 |
||
| 69,967 |
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MARKAZ US-SUNNAH
BALANCE SHEET THE YEAR ENDED 30 SEPTEMBER 2022
| Notes FIXED ASSETS Tangible assets 3 CURRENTS ASSETS Cash at bank CREDITORS Amounts falling due within one year 4 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 5 Unrestricted funds TOTAL FUNDS |
2022 Unrestricted fund £ 1,355 62,687 62,687 (896) 61,791 63,146 63,146 63,146 63,146 |
2021 Unrestricted fund £ 1,806 |
|---|---|---|
| 69,057 | ||
| 69,057 (896) |
||
| 68,161 | ||
| 69,967 | ||
| 69,967 | ||
| 69,967 | ||
| 69,967 |
The financial statements were approved by the Board of Trustees on 7 Feb 2022 and were signed on its behalf by:
----- Start of picture text -----
Mr Fahim Ashraf - Trustee
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The notes form part of these financial statements
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MARKAZ US-SUNNAH
NOTES TO THE FINANCIAL STATEMENTS THE YEAR ENDED 30 SEPTEMBER 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost.
Incoming resources
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.
Resources expended
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 the resource.
Taxation
The charity is exempt from tax on its charitable activities.
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.
2. TRUSTEES' RENUMERATION AND BENEFITS
During 2022, a trustee Mr Fahim Ashraf received salary from the charity for his services. Total salary paid to Mr Ashraf was £15,028 (2021: £13,292).
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2022
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MARKAZ US-SUNNAH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED THE YEAR ENDED 30 SEPTEMBER 2022
3. TANGIBLE FIXED ASSETS
| £ COST - At 1 October 2021 1,806 Additions - At 30 September 2022 1,806 DEPRECIATION Charge for year 451 At 30 September 2022 451 NET BOOK VALUE At 30 September 2022 1,355 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other creditors - 5. MOVEMENT IN FUNDS At 01.10.21 £ £ Unrestricted funds General fund 69,967 (6,821) TOTAL FUNDS 69,967 (6,821) Net movement in funds, included in the above as follows: £ £ General fund 80,018 (86,839) TOTAL FUNDS 80,018 (86,839) Furniture, fixture and Net Movement in funds Incoming resources Resources expened |
Totals £ - 1,806 - |
|---|---|
| 1,806 | |
| 451 | |
| 451 | |
| 1,355 | |
| 2021 £ 896 |
|
| At 30.09.22 £ 63,146 |
|
| 63,146 | |
| £ (6,821) Movement in funds |
|
| (6,821) |
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MARKAZ US-SUNNAH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 30 SEPTEMBER 2022
| INCOMING RESOURCES Voluntary Income Donations and legacies Government grants Total incoming resources RESOURCES EXPENDED Cost of raising funds Fund raising events Charitable activites Lectures, congregational sermons and prayer services Charitable donations Wages and salaries Rent, rates and service charges Hall hire Insurance Light and heat Premises expense Telephone Printing and stationery Cleaning Computer expense Depreciation Governance costs Accountancy fees Legal and professional fees Bookkeeping and admin fees Bank and card charges Total resources expended Net income |
2022 £ 80,018 - 80,018 - - 3,462 11,193 15,028 37,130 4,320 415 6,580 3,083 827 277 1,831 81 451 84,678 850 - - 1,310 2,160 86,839 (6,821) |
2021 £ 69,821 27,286 |
|---|---|---|
| 97,107 612 |
||
| 612 7,133 - 13,292 43,322 - 3,663 5,961 6,482 672 390 1,664 542 451 |
||
| 83,572 850 - 100 271 |
||
| 1,221 | ||
| 85,405 | ||
| 11,702 |
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