REGISTERED CHARITY NUMBER: 1181716
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 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 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 30 September 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 (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.
1
MARKAZ US-SUNNAH
REPORT OF THE TRUSTEES THE YEAR ENDED 30 SEPTEMBER 2024
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.
-
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.
-
Holding lectures and conferences for all ages and sexes, teaching the correct manners and cohesion in society.
-
Allow free public access to a library of literature at our premises.
-
Holding annual barbecues for the youth of our community.
FINANCIAL REVIEW
During the year the Charity received total donations of £84,054. The net deficit of the charity for the year was £40,783. Total funds as at the balance sheet date were £24,580.
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 ___2025 and signed on its behalf by:31 July
----- Start of picture text -----
____
Mr Fahim Ashraf - Trustee
----- End of picture text -----
2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARKAZ US-SUNNAH
I report on the accounts for the year ended 30 September 2024, 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:
-
1) that accounting records were not kept as required by section 130 of the Act; or
-
2) that the accounts do not accord with those records; or
-
3) that the accounts do not comply with the accounting requirements of the Act; or
-
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
_______202531 July
3
MARKAZ US-SUNNAH
STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 30 SEPTEMBER 2024
| INCOMING RESOURCES Income and endowment from: Donations and legacies HMRC Gift-aid 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 |
2024 Unrestricted fund £ 84,054 8,834 92,888 6,505 125,229 1,937 133,671 (40,783) 65,363 24,580 |
2023 Unrestricted fund £ 100,542 - 100,542 6,320 90,135 1,870 98,325 2,217 63,146 65,363 |
|---|---|---|
4
MARKAZ US-SUNNAH
BALANCE SHEET AT 30 SEPTEMBER 2024
| 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 |
2024 Unrestricted fund £ 2,293 24,036 24,036 (1,749) 22,287 24,580 24,580 24,580 24,580 |
2023 Unrestricted fund £ 1,565 68,148 68,148 (4,350) 63,798 65,363 65,363 65,363 65,363 |
|---|---|---|
The financial statements were approved by the Board of Trustees on __202531 July and were signed on its behalf by:
----- Start of picture text -----
____
Mr Fahim Ashraf - Trustee
----- End of picture text -----
The notes form part of these financial statements
5
MARKAZ US-SUNNAH
NOTES TO THE FINANCIAL STATEMENTS THE YEAR ENDED 30 SEPTEMBER 2024
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 the year the Charity paid £26,336 (2023: £14,178) to Trustees for their services.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2024.
6
MARKAZ US-SUNNAH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED THE YEAR ENDED 30 SEPTEMBER 2024
3. TANGIBLE FIXED ASSETS
| Furniture, fixture and equipment £ COST At 1 October 2023 3,083 Additions 1,680 At 30 September 2024 4,763 DEPRECIATION At 1 October 2023 1,518 Charge for year 952 At 30 September 2024 2,470 NET BOOK VALUE At 30 September 2024 2,293 At 30 September 2023 1,565 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Other creditors 1,749 5. MOVEMENT IN FUNDS At 01.10.23 Net movement in funds £ £ Unrestricted funds General fund 65,363 (40,783) TOTAL FUNDS 65,363 (40,783) Net movement in funds, included in the above are as follows: Incoming resources Resources expended £ £ Unrestricted funds General fund 92,888 (133,671) TOTAL FUNDS 92,888 (133,671) |
Totals £ 3,083 1,680 4,763 1,518 952 2,470 2,293 1,565 2023 £ 4,350 At 30.09.24 £ 24,580 24,580 Movement in funds £ (40,783) (40,783) |
|---|---|
7
MARKAZ US-SUNNAH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 30 SEPTEMBER 2024
| INCOMING RESOURCES Voluntary income Donations and legacies HMRC Gift-aid 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 |
2024 £ 84,054 8,834 92,888 6,505 6,505 1,824 10,063 36,336 41,000 3,731 1,957 19,830 3,026 1,436 313 2,298 2,113 252 98 952 125,229 850 1,087 1,937 133,671 (40,783) |
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 |
|---|---|---|
This page does not form part of the statutory financial statements
8