OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-09-30-accounts

Charity registration number: 1184986

The Mosque and Islamic Centre of Brent

Annual Report and Financial Statements for the Year Ended 30 September 2025

The Mosque and Islamic Centre of Brent

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 7
Statement of Trustees' Responsibilities 8
Independent Auditors' Report 9 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Financial Statements 15 to 24

The Mosque and Islamic Centre of Brent

Reference and Administrative Details

Chairman

Saqib Jamil

Trustees

Qaiser Aziz Chowdhry Mohammed Hussain Saqib Jamil Basharat Aslam Mushtaq Ahmed

Principal Office

33 A Howard Road Cricklewood NW2 6DS London

Charity Registration Number

1184986

Solicitors

Lee Bolton Monier-Williams LLP 1 The Sanctuary Westminster London SW1P 3JT

Statutory Auditor

Shareef Chartered Accountants Auditor 4 Highland Court Cranmore Avenue Solihull B90 4LE

Page 1

The Mosque and Islamic Centre of Brent

Trustees' Report

The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 30 September 2025.

Objectives and activities

Objects and aims

The charity's objects are to advance the Islamic faith and education, promote beneficial knowledge, relieve poverty and hardship, provide community facilities, and promote religious and racial harmony for the public benefit in accordance with the Qur'an and Sunnah.

Public benefit

The trustees believe that the charity has continued to provide public benefit by advancing the Islamic faith, promoting religious education, supporting community cohesion, and providing facilities for public worship. The charity’s activities remained accessible to the local community and were delivered in furtherance of its charitable objectives.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Grant making policies

The charity works in partnership with other charities. Partner charities help raise funds for their campaigns at the Mosque. The Mosque collects the funds on their behalf and then makes grants to them to deliver against the agreed campaigns.

Use of volunteers

in addition to the paid staff, the Mosque relies on five volunteers to help manage the Mosque's affairs.

Achievements and performance

During the reporting period, the Mosque and Islamic Centre of Brent continued to fulfil its charitable objectives by providing regular acts of worship, Islamic education, and community services for the local community. The charity remained committed to supporting the religious, educational, and spiritual needs of people of all ages through a range of activities and programmes.

Religious Activities

The mosque remained open throughout the year and continued to provide the five daily congregational prayers, serving as a place of worship and community gathering.

The weekly Friday (Jumu’ah) congregational prayer continued to be held, attracting regular attendance from members of the local community.

During the month of Ramadan, the mosque provided:

The charity also organised programmes and events to commemorate significant dates within the Islamic calendar, providing opportunities for worship, education and community participation. A Community Qur’an Night was organised during the year, encouraging engagement with the Qur’an and strengthening community ties.

Page 2

Educational Activities

The children’s Madrassa continued to operate successfully throughout the year, providing Islamic education from Monday to Thursday between 5:00 pm and 7:00 pm. The classes focused on Qur’an recitation, Islamic studies and the development of good character and values.

Activities Discontinued

Following a review of the charity’s programmes and available resources, several activities were discontinued during the year:

• Islamic Studies Course: The course was discontinued due to insufficient student enrolment and the programme no longer being financially viable.

These decisions were made to ensure that the charity’s resources were directed towards sustainable activities that continue to meet the needs of the community.

Summary

Despite financial and operational challenges affecting some programmes, the Mosque and Islamic Centre of Brent continued to provide its core religious services and educational activities throughout the year. The trustees remain committed to maintaining essential services while reviewing opportunities to develop sustainable programmes that meet the changing needs of the community.

Our Commitment

The Board of Trustees remains committed to serving the community with integrity, transparency and sincerity. While the past year has involved significant governance and regulatory challenges, our focus remains firmly on the future: educating minds, supporting families, empowering young people, helping those in need and developing a Mosque that serves as a beacon of faith, learning and community service.

We thank Allah (SWT), our congregation, volunteers, donors and supporters for their continued trust and generosity.

Together, we will continue to build a stronger, more sustainable Mosque and Islamic Centre that benefits current and future generations.

Serving Faith • Strengthening Communities • Transforming Lives

May Allah (SWT) bless this work, unite our community and grant success to all those who contribute towards it. Ameen.

Page 3

The Mosque and Islamic Centre of Brent

Trustees' Report

Financial review

The charity incorporated from an old trust. This is the first year the CIO has operated for a full year.

The charity income during the year was £9.45m (2024: £29.2k). The in-year income included a gift in kind of £8.9m of property assets transferred from the old trust (charity reg no: 272500).

The charity raised donations of £262k (2024: £9.2k) in the year and rent of £254k (2024: £20k).

The charity spent £500k (2024: £341). The net income in the year was £8.9m with carry-forward reserves of £8.9m.

Policy on reserves

The trustees consider the year-end reserves and future income plans sufficient to meet the charity's operational needs.

Plans for future periods

The trustees are determined to move beyond past challenges and focus on delivering meaningful benefits for the community.

Our priorities for the future include:

Education and Quran Learning

Subject to future fundraising and financial viability, the trustees aspire to make Quran education free of charge for children attending the Mosque.

Youth Development

Elderly and Community Support

Page 4

Community Café Initiative

The trustees intend to explore the idea and viability of the development of a daily community café using the Mosque's kitchen facilities.

This initiative aims to:

Mosque Development and Accessibility

The trustees recognise that the existing facilities must continue to evolve to meet the needs of a growing congregation.

Future aspirations include:

Sustainability

The Mosque has already taken significant steps towards environmental sustainability through the installation of solar panels.

Future objectives include:

Page 5

The Mosque and Islamic Centre of Brent

Trustees' Report

Structure, governance and management

Nature of governing document

The charity is a Charitable Incorporated Organisation (CIO) established and registered with the Charity Commission on 21 August 2019 (Charity reg no: 1184986). The charity is governed by its constitution. The charity was incorporated from a trust with the same name (Charity reg no: 272500), registered with the Charity Commission on 22 December 1976.

Recruitment and appointment of trustees

The charity has a Trustee Selection Policy to ensure appointments are made through a fair, transparent and skillsbased process. The policy sets out the eligibility criteria, desired knowledge, experience and personal qualities of trustees, together with the application and assessment process. It is designed to ensure the Board maintains an appropriate balance of skills, experience and commitment to support the effective governance and long-term sustainability of the charity, while remaining compliant with the charity's governing document and Charity Commission guidance.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Page 6

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on ...................... and signed on its behalf by: 29/07/2026

......................................... Saqib Jamil Chairman and Trustee

Page 7

The Mosque and Islamic Centre of Brent

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on ...................... and signed on its behalf by: 29/07/2026

......................................... Saqib Jamil Chairman and Trustee

Page 8

The Mosque and Islamic Centre of Brent

Independent Auditor's Report to the Members of The Mosque and Islamic Centre of Brent

Opinion

We have audited the financial statements of The Mosque and Islamic Centre of Brent (the 'charity') for the year ended 30 September 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other matter

The Charity’s accounts for the prior year were not required to be audited. Therefore, we have not audited the comparative figures in the 2025 accounts.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 9

The Mosque and Islamic Centre of Brent

Independent Auditor's Report to the Members of The Mosque and Islamic Centre of Brent

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 10), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Page 10

The Mosque and Islamic Centre of Brent

Independent Auditor's Report to the Members of The Mosque and Islamic Centre of Brent

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

......................................

Shareef Chartered Accountants, Statutory Auditor

4 Highland Court Cranmore Avenue Solihull B90 4LE

Date:..29/07/2026...........................

Page 11

The Mosque and Islamic Centre of Brent

Statement of Financial Activities for the Year Ended 30 September 2025

Note
Income and Endowments from:
Donations and legacies
Investment income
3
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17
Income and Endowments from:
Donations and legacies
Investment income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds carried forward		 Unrestricted
funds
£
Restricted funds
£
Total
2025
£
9,178,601
21,602
9,200,203
254,100
-
254,100		 Unrestricted
funds
£
Restricted funds
£
Total
2025
£
9,178,601
21,602
9,200,203
254,100
-
254,100
9,432,701
21,602
9,454,303
(478,967)
(21,602)
(500,569)
(478,967)
(21,602)
(500,569)
8,953,734
-
8,953,734
8,953,734
-
8,953,734
28,951
-
28,951
8,982,685
-
8,982,685
Note
3
17		 Unrestricted
funds
£
Total
2024
£
9,292
9,292
20,000
20,000
29,292
29,292
(341)
(341)
(341)
(341)
28,951
28,951
28,951
28,951
28,951
28,951

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17.

Page 12

The Mosque and Islamic Centre of Brent

(Registration number: 1184986) Balance Sheet as at 30 September 2025

Note
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
15
Creditors: Amounts falling due within one year
16
Net currentassets
Netassets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
17		 2025
£
2024
£
4,410,000
-
3,980,000
-
8,390,000
-
101,150
17,304
504,335
447,843
605,485
465,147
(12,800)
(436,196)
592,685
28,951
8,982,685
28,951
8,982,685
28,951
8,982,685
28,951

The financial statements on pages 14 to 27 were approved by the trustees, and authorised for issue on .................... 29/07/2026 and signed on their behalf by:

......................................... Saqib Jamil Chairman and Trustee

Page 13

The Mosque and Islamic Centre of Brent

Cash Flow Statement for the Year Ended 30 September 2025

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
Investment income
3
Working capital adjustments
Increase in debtors
14
(Decrease)/increase in creditors
16
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
3
Purchase of tangible fixed assets
12
Net cash flows from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 October
Cash and cash equivalents at 30 September		 2025
£
2024
£
8,953,734
28,951
90,000
-
(254,100)
(20,000)
8,789,634
8,951
(83,846)
(17,304)
(423,396)
436,196
8,282,392
427,843
254,100
20,000
(8,480,000)
-
(8,225,900)
20,000
56,492
447,843
447,843
-
504,335
447,843

All of the cash flows are derived from continuing operations during the above two periods.

Page 14

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

The Mosque and Islamic Centre of Brent meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Page 15

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

Charitable activities

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.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Land and Buildings Over a period of 50 years

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 16

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 17

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 18

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

Unrestricted
funds Restricted Total Total
General funds 2025 2024
£ £ £ £
Donations and legacies;
Donations from individuals 262,406 21,602 284,008 9,292
Gifts in kind 8,916,195 - 8,916,195 -
9,178,601 21,602 9,200,203 9,292

3 Investment income

Income from rents Unrestricted
funds
Total
Total
General
£
2025
£
2024
£
254,100
254,100
20,000

Page 19

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

4 Expenditure on charitable activities

Employment
Depreciation of freehold property
Grants
Utilities
Event
Repairs and maintenance
Cleaning
Office expenses
Computer and Software
Audit fees
Insurance
Bank charges		 Activity
undertaken
directly
£
Grants to
Institutions
Total
2025
£
Total
2024
£
143,013
143,013
-
90,000
90,000
-
75,582
75,582
-
55,206
55,206
-
35,668
35,668
-
30,391
30,391
-
17,852
17,852
-
15,372
15,372
-
7,987
7,987
-
7,800
7,800
-
6,956
6,956
-
6,170
6,170
341
424,987
75,582
500,569
341

5 Analysis of governance and support costs

Governance costs

Audit fees
Audit of the financial statements
Legal fees		 Unrestricted
funds
Total
General
£
2025
£
7,800
2,055
9,855		 7,800
2,055
9,855

Page 20

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

6 Grant-making

Below are details of material grants made to institutions.

Analysis of grants

Project/Country
Education
Mosque
Poverty Relief		 Gaza Palestine
Pakistan
Sudan
UK
Total
2024
8,919
2,860
11,780
0
4,713
8,513
10,908
24,134
0
8,300
17,885
13,084
39,269
0
4,713
25,733
17,885
26,852
75,182
0

7 Net incoming/outgoing resources

Net incoming resources for the year include:

Audit fees
Depreciation of fixed assets		 2025
£
7,800
90,000

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs		 2025
£
49,778
2,316
52,094

No employee received emoluments of more than £60,000 during the year

Page 21

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

10 Auditors' remuneration

Audit of the financial statements

2025 £ 7,800

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Cost
Additions
At 30 September 2025
Depreciation
Charge for the year
At 30 September 2025
Net book value
At 30 September 2025		 Land and
buildings
£
Total
£
4,500,000
4,500,000
4,500,000
4,500,000
90,000
90,000
90,000
90,000
4,410,000
4,410,000

The fixed asset represents the current Mosque building. This has been valued at its replacement cost.

13 Fixed asset investments

Investment properties 2025
£
3,980,000

Page 22

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

Investment properties

Cost or Valuation
At 1 October 2024
Provision
At 30 September 2025
Net book value
At 30 September 2025
At 30 September 2024		 Investment
properties
£
3,980,000
-
3,980,000
3,980,000

The investment properties were valued by an independent RICS-regulated valuer on 1 June 2026.

14 Debtors

Other debtors
15
Cash and cash equivalents
Cash at bank
16
Creditors: amounts falling due within one year
Other creditors
Accruals		 2025
£
2024
£
101,150
17,304
2025
£
2024
£
504,335
447,843
2025
£
2024
£
-
436,196
12,800
-
12,800
436,196

Page 23

The Mosque and Islamic Centre of Brent

Notes to the Financial Statements for the Year Ended 30 September 2025

17 Funds

17
Funds		 17
Funds
Balance at 1
October 2024
£
Unrestricted funds
General
28,951
Restricted funds
-
Total funds
28,951
Unrestricted funds
General
18 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets		 Incoming
resources
£
9,432,701
21,602		 Resources
expended
£
Balance at 30
September 2025
£
(478,967)
8,982,685
(21,602)
-
28,951 9,454,303 (500,569)
8,982,685
Incoming
resources
£
29,292		 Resources
expended
£
Balance at 30
September 2024
£
(341)
28,951
Unrestricted
funds
Total funds
General
£
2025
£
3,900,400
3,900,400
504,335
504,335
(11,499)
(11,499)
4,393,236
4,393,236
Unrestricted
funds
Total funds
General
£
2024
£
465,147
465,147
(436,196)
(436,196)
28,951
28,951

19 Related party transactions

During the year the charity made the following related party transactions:

The Mosque and Islamic Centre of Brent

(The Mosque and Islamic Centre of Brent, a registered trust (charity no: 272500), transferred its properties valued at £8,916,195 to The Mosque and Islamic Centre of Brent, a Charity Incorporated Organisation (CIO) (Charity no: 1184986).

Both the trust and the CIO have the same trustees.

This transfer was treated as a gift in kind within the CIO accounts.

At the balance sheet date the amount due to/from The Mosque and Islamic Centre of Brent was £Nil (2024 - £Nil).

Page 24