2021-03-31-accounts - Macclesfield Muslim Community Centre

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MACCLESFIELD MUSLIM COMMUNITY CENTRE

Charity No. 1188556

Trustees' Report and Unaudited Accounts

31 March 2022

MACCLESFIELD MUSLIM COMMUNITY CENTRE Contents

	Pages
Trustees' Annual Report	1
	2
Statement of Financial Activities	3
Balance Sheet	4
Statement of Cash flows	5
Notes to the Accounts	6
Detailed Statement of Financial Activities	7 to to 13

Page 1

MACCLESFIELD MUSLIM COMMUNITY CENTRE Trustees Annual Report

Charity Organisation

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

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1188556

Principal Office

50 Waters Green Macclesfield Cheshire Cheshire SK11 6JT

Trustees

The following trustees served during the year:

J. ABEDIN A. ALI D. HUSSAN A.S.M.J. KHAN

Accountants

SA ACCOUNTS PRACTICE 123 MOORLAND ROAD STOKE-ON-TRENT STAFFS ST6 1JH

OBJECTIVES AND ACTIVITIES

The purpose of the charity as set out in its governing document to advance the islamic faith for the public benefits in Macclesfield and the surrounding area. In accordance with the doctrinies of the Quran Sunnah including religious education and through the holding prayer meetings, lectures and public clebration of religious festivals. Such other charitable purposes for the benefit of the inhabitants of Macclesfield and the surrounding area as the trustee think fit.

ACHIEVEMENTS AND PERFORMANCE

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

Statement of trustees' responsibilities in relation to the financial statements

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

Page 2

MACCLESFIELD MUSLIM COMMUNITY CENTRE Trustees Annual Report

The trustees are 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 Trustees are 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 on behalf of the charity's trustees

J. ABEDIN Trustee 31 March 2022

Page 3

MACCLESFIELD MUSLIM COMMUNITY CENTRE Statement of Financial Activities

for the year ended 31 March 2022

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

22,839	22,839	43,323
22,839	22,839	43,323

4,988	4,988	5,300
4,988	4,988	5,300
-	-	-
17,851	17,851	38,023
-	-	-
17,851	17,851	38,023

17,851	17,851	38,023

43,092	43,092	(5,069)
60,943	60,943	32,954

Page 4

MACCLESFIELD MUSLIM COMMUNITY CENTRE Balance Sheet

at 31 March 2022

Charity No. 1188556 Fixed assets Tangible assets 6 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 7 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 8 Unrestricted funds 8 General funds Reserves 8 Total funds Approved by the trustees on 31 March 2022	2022 £ 96,759 96,759 15,430 15,430 15,430 112,189 (51,246) 60,943 60,943 60,943 60,943 60,943	2021 £ 96,759
		96,759 9,768
		9,768
		9,768 106,527 (68,504)
		38,023
		38,023
		43,092
		43,092
		43,092

And signed on their behalf by:

J. ABEDIN Trustee 31 March 2022

Page 5

MACCLESFIELD MUSLIM COMMUNITY 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

MACCLESFIELD MUSLIM COMMUNITY 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

MACCLESFIELD MUSLIM COMMUNITY 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

MACCLESFIELD MUSLIM COMMUNITY CENTRE

Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies 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 carried forward 3 Income from donations and legacies 4 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs 5 Staff costs Salaries and wages	Unrestricted £ 22,839 22,839 Unrestricted £ 4,800 182 6 - 4,988 2022 4,800 4,800	Unrestricted funds 2021 £ 43,323 43,323 5,300 5,300 38,023 38,023 38,023 38,023 Total 2022 £ 22,839 22,839 Total 2022 £ 4,800 182 6 - 4,988	Total funds 2021 £ 43,323
			43,323 5,300
			5,300
			38,023
			38,023
			38,023
			38,023
			Total 2021 £ 43,323
			43,323
			Total 2021 £ 3,550 1,425 25 300
			5,300
			2021 3,550
			3,550

No employee received emoluments in excess of £60,000.

Page 9

MACCLESFIELD MUSLIM COMMUNITY CENTRE Notes to the Accounts

MACCLESFIELD MUSLIM COMMUNITY CENTRE Notes to the Accounts
6 Tangible fixed assets Cost or revaluation At 1 April 2021 At 31 March 2022 Net book values At 31 March 2022 At 31 March 2021 7 Creditors: amounts falling due after more than one year Other creditors 8 Movement in funds At 1 April 2021 Restricted funds: Unrestricted funds: General funds 43,092 Total funds 43,092 9 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year and provisions 10 Reconciliation of net debt Cash and cash equivalents Net debt	2022 £ 51,246 51,246 Incoming resources (including other gains/losses ) £ 22,839 22,839 At 1 April 2021 £	£ 96,759 96,759 96,759 96,759 Resources expended £ (4,988) (4,988) Unrestricted funds £ 96,759 15,430 (51,246) 60,943 Cash flows £	£ 96,759
			96,759
			96,759
			96,759
			2021 £ 68,504
			68,504
			At 31 March 2022 £ 60,943
			60,943
			Total £ 96,759 15,430 (51,246)
			60,943
			At 31 March 2022 £
	9,768	5,662	15,430
	9,768 9,768	5,662 5,662	15,430
			15,430

Page 10

MACCLESFIELD MUSLIM COMMUNITY CENTRE Note$ to the A¢¢ounl$ Page11

MACCLESFIELD MUSLIM COMMUNITY 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: (Decrease)/Increase in trade and other payables Net cash provided by operating activities Net cash used in 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 £ 17,851 (17,258) 593 - - 593 9,768 10,361	2021 £ 38,023 68,504
		106,527
		(96,759)

		-

		9,768
		-
		9,768

Components of cash and cash equivalents
Cash and bank balances	15,430	9,768

	15,430	9,768

Page 12

MACCLESFIELD MUSLIM COMMUNITY CENTRE Detailed Statement of Financial Activities

for the year ended 31 March 2022

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Employee costs Salaries/wages Premises costs Rates Light, heat and power Premises insurances General administrative costs, including depreciation and amortisation Bank charges Legal and professional costs Accountancy and bookkeeping 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	Unrestricted funds 2022 £ 22,839 22,839 22,839 4,800 4,800 - 182 - 182 6 6 - - 4,988 4,988 - 17,851 17,851 - 17,851 43,092 60,943	Total funds 2022 £ 22,839 22,839 22,839 4,800 4,800 - 182 - 182 6 6 - - 4,988 4,988 - 17,851 17,851 - 17,851 43,092 60,943	Total funds 2021 £ 43,323
			43,323
			43,323 3,550
			3,550
			272 568 585
			1,425
			25
			25
			300
			300

			5,300
			5,300 -
			38,023
			38,023 -
			38,023
			(5,069)
			32,954

Page 13