REGISTERED CHARITY NUMBER: 1181716
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 FOR MARKAZ US-SUNNAH
Infinity Accountants Chartered Certified Accountants
27 Coniston Gardens
Pinner Middlesex HA5 2JN
MARKAZ US-SUNNAH
CONTENTS OF THE FINANCIAL STATEMENTS THE YEAR ENDED 30 SEPTEMBER 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
| Detailed Statement of Financial Activities | 8 |
MARKAZ US-SUNNAH
REPORT OF THE TRUSTEES THE YEAR ENDED 30 SEPTEMBER 2023
The trustees present their report with the financial statements of the charity for the year ended 30 September 2023. 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).
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1181716
Principal address
500a Sunleigh Road Wembley Middlesex HA0 4NF
Trustees
Mr Fahim Ashraf Mr Yasser Ali Mr Abderrahman Mehbali Mr Yusuf Osman Mr Imran Janjooa
Independent examiner
Infinity Accountants Chartered Certified Accountants 27 Coniston Gardens Pinner Middlesex HA5 2JN
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 THE YEAR ENDED 30 SEPTEMBER 2023
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:
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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 £100,542. The net surplus of the charity for the year was £2,217. Total funds as at the balance sheet date were £65,363.
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 ___2024 and signed on its behalf by:17 December
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Mr Fahim Ashraf - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARKAZ US-SUNNAH
I report on the accounts for the year ended 30 September 2023, 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.
Infinity Accountants Chartered Certified Accountants 27 Coniston Gardens
Pinner Middlesex HA5 2JN
_______202417 December
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MARKAZ US-SUNNAH
STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 30 SEPTEMBER 2023
| INCOMING RESOURCES Income and endowment from: Donations and legacies Total incoming resources RESOURCES EXPENDED 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 |
2023 Unrestricted fund £ 100,542 100,542 6,320 90,135 1,870 98,325 2,217 63,146 65,363 |
2022 Unrestricted fund £ 80,018 80,018 - 84,679 2,160 86,839 (6,821) 69,967 63,146 |
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MARKAZ US-SUNNAH
BALANCE SHEET AT 30 SEPTEMBER 2023
| Notes FIXED ASSETS Tangible assets 3 CURRENT 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 |
2023 Unrestricted fund £ 1,565 68,148 68,148 (4,350) 63,798 65,363 65,363 65,363 65,363 |
2022 Unrestricted fund £ 1,355.00 62,687 62,687 (896) 61,791 63,146 63,146 63,146 63,146 |
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The financial statements were approved by the Board of Trustees on __202417 December and were signed on its behalf by:
____ Mr Fahim Ashraf - Trustee
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 2023
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 convention.
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 resources.
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' REMUNERATION AND BENEFITS
During 2023, a trustee Mr Fahim Ashraf received salary from the charity for his services. Total salary paid to Mr Ashraf was £14,178 (2022: £15,028).
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2023.
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MARKAZ US-SUNNAH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED THE YEAR ENDED 30 SEPTEMBER 2023
3. TANGIBLE FIXED ASSETS
| Furniture, fixture and equipment £ COST At 1 October 2022 2,257 Additions 826 At 30 September 2023 3,083 DEPRECIATION At 1 October 2022 902 Charge for year 616 At 30 September 2023 1,518 NET BOOK VALUE At 30 September 2023 1,565 At 30 September 2022 1,355.00 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Other creditors 4,350 5. MOVEMENT IN FUNDS At 01.10.22 Net movement in funds £ £ Unrestricted funds General fund 63,146 2,217 TOTAL FUNDS 63,146 2,217 Net movement in funds, included in the above are as follows: Incoming resources Resources expended £ £ Unrestricted funds General fund 100,542 (98,325) TOTAL FUNDS 100,542 (98,325) |
Totals £ 2,257 826 3,083 902 451 1,353 1,730 1,355.00 2022 £ 896 At 30.09.23 £ 65,363 65,363 Movement in funds £ 2,217 2,217 |
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MARKAZ US-SUNNAH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 30 SEPTEMBER 2023
| INCOMING RESOURCES Voluntary income Donations and legacies Total incoming resources RESOURCES EXPENDED Costs of raising funds Fund raising events Charitable activities 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 Subscription Sundry expense Depreciation Governance costs Accountancy fees Bank and card charges Total resources expended Net income |
2023 £ 100,542 100,542 6,320 6,320 709 4,948 14,478 45,796 2,896 529 8,657 6,401 785 403 1,378 2,187 252 100 616 90,135 850 1,020 1,870 98,325 2,217 |
2022 £ 80,018 80,018 - - 3,462 11,193 15,028 37,130 4,320 415 6,580 3,083 827 277 1,832 81 - - 451 84,679 850 1,310 2,160 86,839 (6,821) |
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This page does not form part of the statutory financial statements
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