2022-03-31-accounts - Moorlands Islamic Centre

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MOORLANDS ISLAMIC CENTRE

Charity No. 1182067

Trustee's Report and Unaudited Accounts

31 March 2022

MOORLANDS ISLAMIC CENTRE Contents

	Pages
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Statement of Cash flows	9
Notes to the Accounts	6	-7	8
Detailed Statement of Financial Activities	10	11

Page 1

MOORLANDS ISLAMIC CENTRE Trustees Annual Report

The trustee presents their report with the unaudited financial statements of the charity for the year ended 31 March 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1182067

Trustee

The following trustee served during the year:

S.I. PATEL

Accountants

SG ACCOUNTANCY SERVICES LTD 296 GARSTANG ROAD PRESTON LANCASHIRE PR2 9RX

ACHIEVEMENTS AND PERFORMANCE

A larger charity must provide an explanation of any material expenditure occurred to raise income in the future...

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed

S.I. PATEL Trustee 17 August 2022

Page 2

MOORLANDS ISLAMIC CENTRE Independent Examiners Report

Independent Examiner's Report to the trustee of MOORLANDS ISLAMIC CENTRE

I report to the trustees on my examination of the financial statements of MOORLANDS ISLAMIC CENTRE for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustee considers that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

SIDDIQ GANI FFA F.I.P.A SG ACCOUNTANCY SERVICES LTD 296 GARSTANG ROAD PRESTON LANCASHIRE

PR2 9RX 17 August 2022

Page 3

MOORLANDS ISLAMIC CENTRE Statement of Financial Activities

for the year ended 31 March 2022

Unrestricted funds	Total funds	Total funds
2022	2022	2021
£	£	£

39,472	39,472	25,047
5,460	5,460	8,400
44,932	44,932	33,447

25,513	25,513	22,605
25,513	25,513	22,605
-	-	-
19,419	19,419	10,842
-	-	-
19,419	19,419	10,842

19,419	19,419	10,842

17,291	17,291	6,449
36,710	36,710	17,291

Page 4

MOORLANDS ISLAMIC CENTRE Balance Sheet

at 31 March 2022

at 31 March 2022
Charity No. 1182067 Current assets Debtors 7 Cash at bank and in hand Creditors:Amount falling due within one year 8 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 9 Unrestricted funds 9 General funds Reserves 9 Total funds	2022 £ 25 37,080 37,105 (395) 36,710 36,710 36,710 36,710 36,710 36,710 36,710	2021 £ - 16,801
		16,801 490
		17,291 17,291
		17,291
		17,291
		17,291
		17,291
		17,291

Approved by the trustees on 17 August 2022

And signed on their behalf by:

S.I. PATEL Trustee 17 August 2022

Page 5

MOORLANDS ISLAMIC CENTRE Notes to the Accounts

for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

MOORLANDS ISLAMIC CENTRE Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

MOORLANDS ISLAMIC CENTRE Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

MOORLANDS ISLAMIC CENTRE

Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Other income	Unrestricted £ 39,472 39,472 Unrestricted £ 5,460 5,460	Unrestricted funds 2021 £ 25,047 8,400 33,447 22,605 22,605 10,842 10,842 10,842 6,449 17,291 Total 2022 £ 39,472 39,472 Total 2022 £ 5,460 5,460	Total funds 2021 £ 25,047 8,400
			33,447 22,605
			22,605
			10,842
			10,842
			10,842 6,449
			17,291
			Total 2021 £ 25,047
			25,047
			Total 2021 £ 8,400
			8,400

Page 9

MOORLANDS ISLAMIC CENTRE Notes to the Accounts

5 Other expenditure

5 Other expenditure
Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs 6 Staff costs Salaries and wages No employee received emoluments in excess 7 Debtors Other debtors 8 Creditors: amounts falling due within one year Other taxes and social security 9 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds	of £60,000. At 1 April 2021 17,291 17,291	Unrestricted £ 2,501 - 15,600 63 2,375 1,509 3,465 25,513 2022 15,600 15,600 2022 £ 25 25 2022 £ 395 395 Incoming resources (including other gains/losses ) £ 44,932 44,932	Total 2022 £ 2,501 - 15,600 63 2,375 1,509 3,465 25,513 Resources expended £ (25,513) (25,513)	Total 2021 £ - 3,118 7,908 - 10,938 566 75
				22,605
				2021 7,908
				7,908
				2021 £ -
				-
				2021 £ (490)
				(490)
				At 31 March 2022 £ 36,710
				36,710

Page 10

MOORLANDS ISLAMIC CENTRE Notes to the Accounts

10 Analysis of net assets between funds

10 Analysis of net assets between funds
Net current assets 11 Reconciliation of net debt Cash and cash equivalents Net debt	Unrestricted funds £ 36,685 36,685 At 1 April 2021 £	Restricted funds £ 25 25 Cash flows £	Total £ 36,710
			36,710
			At 31 March 2022 £
	16,801	20,279	37,080
	16,801 16,801	20,279 20,279	37,080
			37,080

Page 11

MOORLANDS ISLAMIC CENTRE Statement of Cash flows for the year ended 31 March 2022

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Increase in trade and other receivables Increase/(Decrease) in trade and other payables Net cash provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2022 £ 19,419 (5,460) (25) 885 14,819 5,460 5,460 - 20,279 16,801 37,080	2021 £ 10,842 (8,400) - (490)
		1,952 8,400
		8,400

		-

		10,352
		6,449
		16,801

Components of cash and cash equivalents
Cash and bank balances	37,080	16,801

	37,080	16,801

Page 12

MOORLANDS ISLAMIC CENTRE Detailed Statement of Financial Activities

for the year ended 31 March 2022

Income and endowments from: Donations and legacies Other Total income and endowments Expenditure on: Other expenditure Employee costs Salaries/wages Motor and travel costs Vehicles - Fuel Premises costs Rates Light, heat and power Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation General insurances Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Consultancy fees Other legal and professional costs	Unrestricted funds 2022 £ 39,472 39,472 5,460 5,460 44,932 2,501 - 2,501 15,600 15,600 63 63 390 1,154 831 - 2,375 489 148 514 358 1,509 - 75 3,390	Total funds 2022 £ 39,472 39,472 5,460 5,460 44,932 2,501 - 2,501 15,600 15,600 63 63 390 1,154 831 - 2,375 489 148 514 358 1,509 - 75 3,390	Total funds 2021 £ 25,047
			25,047
			8,400
			8,400
			33,447 - 3,118
			3,118
			7,908
			7,908
			-
			-
			203 1,107 9,465 163
			10,938
			477 - - 89
			566
			75 - -

Page 13

MOORLANDS ISLAMIC CENTRE Detailed Statement of Financial Activities

MOORLANDS ISLAMIC CENTRE Detailed Statement of Financial Activities
Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	3,465 25,513 25,513 - 19,419 19,419 - 19,419 17,291 36,710	3,465 25,513 25,513 - 19,419 19,419 - 19,419 17,291 36,710	75

			22,605
			22,605 -
			10,842
			10,842 -
			10,842
			6,449
			17,291

Page 14