Charlty r¢gistratton number 1189047 NORTHOLT ISLAMIC CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
NORTHOLT ISLAMIC CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Tnrnt Mr Muhammad Atshad Mr IAuhammad Tareq Mr Uzzman Khan Mr Satd Amouhou Mi Shahbaz Meèr Charity number 1189047 Prlnclpal addrBss 159 Church Road Northok Mlddlesex England UB5 SAG Independant •xamln•r MUSAc¢ountsnts Lrrnited 268 Bath Road. Regus Office 146 SIou9h SL140X
NORTHOLT ISLAMIC CENTRE CONTENTS Page Trustees rep)rt Slatement of twslees responsibifrties Independent examinerfs report Statement of financial athibes Balancé sheet Noleg to the financial statements 7-13
NORTHOLT ISLAMIC CENTRE TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Irustees psent 11 annu81 re[ and finaal statements for the year ended 31 Decembgr 2023. Northoll Islamic Centre (NIC) was registered wrfh dritY commrAion on 14 April 21r20 as CIO - Foundation (Charitabla incorporated Organisalionl. The ffinanoal stalernents have been prepafed in accxsrdance wilh the actounting poliaes sel out in note 1 to the finanual slalements and compty with the chariiys Consltbjtion of a charitable incorporated organisation whose only voting members are its chaiity trustees, the Charrlies Aci 2011 and "Accounling and Reporting by Chariti8s.' Slalement of Reo)mrnended Practice applicable to charittes preparing their accounts in a¢¢oidance with the Finandal Rerrt)rting Standard applt¢able in the UK and RepubiK of Ireland IFRS 102)" {effectiV8 1 January 2019). Obiectiv•s and athities The ¢haiity's obiects are lo develop a place of worship for Muslims Itving in and around Northom. The charty also organises and partictpates in ¢ommunty events to promote equality. dwrsty and goc4J ra relations. Publi¢ benefft Northolt Islamic Centre (NICI meets the Charity Commisswjn pUbC benefit criteria undgr both the advancement of education and the advancement of otizenship or communty development objectives. The trustees have cJ)mplied with section 17 of Chaiilie3Act 2011 with ward5 to public benefjl guidan issued by the Chartty Commission. The trustees have paid due regard to guidaTh2 is51 by tho Chity Commission In deciding what actNil$ the tharity ShoUj undertake. Achlwements and perfornMnc• Flnanelal Y•¥iew 11 is the policy of the thaiity that unrestsicled furyls whi( have not bggn designated for a spIfiC use should be maintained at a lewl equirdlenl lo belween Ihree anJ six month's expendrture. The trustee$ consider that resgryes at this level will ensure that, in Ihe event of a significant dmp in fvnding, they wdl be able lo continue the charity's current activities while consideration is given to ways in whth addrfional fvnds may be raised. This level of reseNèS has been maintsined 1hrough0 the year. The ¢harity has managed lo bring in a stable stream of donations and has kept costs at a minimum. The ¢hafity also achieved significant results in most o)st effeciive ways possible whith i% reflected by the retained funds by the chanty. The fiJnd3 can be used to stsrt drItable projects. Plam for futsro porlods NIC ts a w811 established ¢arity organisal¥)n supwng Muslim fam$ across NortholL Our future aim indude$: a) Continue to divetsfy fijnding streams. so that fft organisational sts are met from • range or sourc0$ bl Invoknng lo¢al residents and groups in IUe and development$ likely lo affeca quafjty of life in the local aa l Developin9 new projects and inthalives that meet the rajrrent and emerging needs of thè Muslim community d) Strangthening intemal governanc8 slnKtufes and brcadening the role aNI invOement of truslees Strutturn. govornance and management The charity is a CIO FoUndatn and is gobtmed by its consbtubon of a charitsble In(J)ryratfjd Organisalion whose On voting members are its charity tfuslees. The trustees who served during the year and to the (late of spJnatur• of tr ffinanal statéments were: Mr Muhammadknlwd Mr Muhammad Tareq AJI Mr Uzzman Khan Mr Said Amouhou Mr Shahbaz Meer
NORTHOLT ISLAMIC CENTRE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 All above charity Iru51ees are the first chanty Iruslee$ and are appointed indefinilely li.e. for life or until Ihey rebre). None of Ihe trustees has any benefKaal inlerest in the chanty. All of the trustees are members of the charity. On 14 April 2020, Northoll Islamic Centre (Charity registration 11811591 ceased ils acl¢vities under unincorpofaled chanty structure. The charity was converted lo CIO (Charitable Incorporated Organisationl. New tharity "Northoll Islarnic Centre" was registered on 14 April 2020 under CIO Foundation model having charity registration number 1189047. On thi5 dale Iruslees passed resolution and Iransferred all as5els and liabilities from old ¢harity "NorthoK Is&mic Cenir& Charity no." 1183159) to new charity "Nonhott Islamic Cen¢re - charity no-. 1189047). Reference and adminlstrative detalls: Reglstered Charity number 1189047 Prlncipal address 159 Church Roa(J Northoll U85 SAG The Irustees report was appioved by the ees. Mr Uzz Trustèes Khan 29 October 2024
NORTHOLT ISLAMIC CENTRE STATEMENT OF TRUSTEES RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2023 The tru51ees are r¢spcnsibl8 for preparing Tnjstees Report and th? finanual ststemenls in accordanc8 with applicable law and United ngdorn Accounlwlg Standards (Unilgd lfjnod¢)m Generally Accepted A¢counling Practice}. The law applicable to ¢haiilies in England and wa requires the trustees to prepare finanaal statements for each financial ygar which give a true and fair eW of the slate of affai of the carity and of the inMIng resour5 and application of resources ofthe charity for that year. In preparing these financial Statnents. the trustees we required to: - select suitsbk acwunting pobc4es and then appty thgm eonstst8nty, - observe Ihe melhodg and princiF4e$ in the chareS SORP; - make judgements arKI eslimates that are reasonable and prudenl: - slate whether applicablè accourfirvj standards have been folowed. subie(I lo any nthrial departurgs disctosed and explained in the finala1 ststements.. arKI - prepare the finanoal slalements on thg going CoeM basis unless it is inappropriate to pr8sume that th9 carity will cntInUe in operation. The trustees are responsible for keeping sufficient aUfttifig records that discb)se with reasonable accuracy at any timg the financral posttton of the charity and enabte them lo ensure that the financ1 Slatements comply th the Chaiities Act 2011. the Charity (AOUnts and Reports) Regulations 2008 and the provision$ of the trust deed. They are 8150 responsible for safe9uarding the assgts of the tharity and henc¢ for taking reasonable steps for Ihe provention and detection of fraud and other iwufaritie
NORTHOLT ISLAMIC CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHOLT ISLAMIC CENTRE I r8POrt to the trustees on my examination of the fffianual statements of NORTHOLT ISLAMIC CENTRE {the chanty) for the year ended 31 December2023. Responsibilities and basl8 of r•port As the Iruslees ol chafity you are responsiblg for pparat)n of the finan(xal ststements in accordance with Ihe reqU1mentS of the Charits&s Act 2011 (the 2011 Act). I report in respect of my examrnalitin of the Charis financial statements carried otrt under secbon 145 of the 2011 Ac4. In carying out my examination I ha foficmed al the applble Direthon5 gNen by the Charity Commission under section 145151{b) of the 2011 A Indepgndentexamlnerfs slat•m•nt Your attention is drawn lo the fad that the charity has prepared financial statements in accordance with Accounting and Reporting by Char(tres preparing their accounts in acurdance with the Finanlial Reporttrtg Standard applicablg in the UK and Republ of Ireland IFRS 102) in preferen¢e lo the Actountin9 and Reporting by Chartties.. Statement of Recommended Practice issued on 1 Apnl 2005 vlhich Is referred to in the extant regulations but has now been withdrawn. I LEnderstand that this has been dona in order for [ancIal slalements to pro¥ide a true and fair Mew in accordan wtth Genernlty AcceplgdAc4>Juffjing Praclice effeth for rePting perdS beginning on or after 1 January 2015. I have completed my examinaliort. I confirm that no Matte have c£*me to my attention in conne¢kntsn wrfh the examination gNtng rne caLtSg to believe thal in any fflaterial respecl.. a¢¢ounting records werè not kept in respect ofthe charity as reqUId by SeCtn 130 of the 2011 Actr. or the financial statements do not accord with those records: or the finanaal slalements do not CoMY with Ihe applicab requirements conceming the fomi and content of aCnIS sel out in the Chaiilies ¢A)untS and Reports) Regulations 2008 olhgrthan any requirement that the accounts gNe a true and fair which is not a matter considered as part of an independent èxarnination. I have no concems and have me across no other matter5 in connedion wilh the examination to 1¢h attentlon should be drawn in this rem in ordèrto enable a proper understanding of the financial ststemanls lo be reached. Muharnmad U$man FCCA MUS Accountsnts Limit Chartered C$rtified Acuunlants 268 Bath Road. Regus Office 146 Slough SL14DX Datsd: 29 October 2024
NORTHOLT ISLAMIC CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrostrict Unrestrlctrd funds fund$ 2023 2022 Notes Income from: Donations and legaeAes Charitablg aclmlies 191.412 18.180 99.995 25.622 Total Incom• 209.592 125,617 Expendknrv on: Charitsble aclivibes 81,336 51.087 Total ¢xpendliur• 81.336 51.087 M¢t Income and mov•m•nt In funds 128.256 74.530 Recon¢lliation of funds: Fund batances at 1 January 2023 375.594 301.065 Fund balanc•s at 31 D0mber 2023 503.850 375,595 The statenwl of financial adivrb.es indudes all gains KI losses reco9nised in the ye. All inc¢me and WApendilure derive from ¢ontinuing actiwtses.
NORTHOLT ISLAMIC CENTRE BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Flxgd assets Tangible asse15 10 628,403 621,011 Current assets Debtors Cash al bank and in hand 11 6.143 133.579 10.250 34,209 139.722 Creditor5: amounts f3111ng du¢ within one year 44,459 13 1264.275) 1289.8751 Net current liabillties 1124.5531 1245,4161 Total a$$tts less current Ilabilittes 503.850 375.595 N•t assèts ex¢luding pènsion liab51ity 503.850 375,595 The fund$ ofthe charity Unrestricted funds 503.850 375.595 503.850 375.595 The fjnancial statements weie approved by the trustees on 30 O¢tober 2024 Mru Truste•s Khan
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounling poll¢les Charity InfornMtion Northoll Islamic Centre registered as a charity wilh carity 1MISSn on 14 April 20 as CIO4oundaltrJn (Charitable Incorpoted Organisation) havwjg charity registrabtsn nurnber 1189047. The re9iStered office is 151 Church Road, Northolt, U85 SAG. 1.1 AoUntn9 convgntlon The financi ststements have been prepared in #CaanCe ryth the thaiiV$ Constiiubon of a charitable Incorporated organisation whose onty voting members are its charity trustees. the Charili&s Act 2011. FRS 102 "The Financaal Re[ting Standard appltslAe in the UK and Republic of Ireland" fFRS 1021 and the Charilies SORP 'A(uuntsng and Reporting by Chartties.. Statement of Recommended Practtce applicable lo Charities preparing their ac¢ounts in accordance with the Financial Repth"ng Standard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 2019). The thaiity is a Public Benefft Enlity a5 defined by FRS 102. The charity has taken adntage of the provÈsions in the SORP for chaiilies not to prepare a Slalement of Cash Flow$. The financial slalèments are prepared in sterfing, whith is the funthonal ojrr¢n of the ¢harity. Monetary 8mounts in these financi statements e rounded to the nearest L The financial stslements have been prepared under the hi5tori¢al ¢st convenknn. The prirripal accounting IicAes adopted are set oul below. 1.2 Golng con¢•rn Al the time of appmwr4J finanoal ststements. the Iwstees have a reasonable expectation that the charity has adequate resources lo continue in operational existenc8 ftr the forèseeable future. Thus thè irustees o)ntlnue to adopt th¢ going concem basis of attounting in prepaiing tho finanual staternents. 1.3 Charltsble funds nStricted funds are awdilable for use al thè di$L¥e1 of the trustees in furtherance of thgir charrtable objecti¥g5. Restricted fvnds are subiecl to SpeUr condrtions by donors or grantors 0$ to h(M they may be used. The purposgs and uses of the festri(aed ffijnds are set out in the notes lo the financlal stalemen Endowrnenl funds are sua¢l to Spe0 o)rKrrtb)ns by donors that the pital must bg maintained by Ihg rthafity. 1A Incomo Income is recognised when the ¢harrty islggany enlilled lo it after any performance conditions havg been met. Ihe amounls can be measured relrabty. and rt 15 probable that income will be received. Cash donattons a Tecognwd on Tewpt. ot donalths a tectynised on¢e the tharity has been notifi9d of the donation, unless perfom*nce o)nditions require deferral of the amount. Income tax re¢overabl& in relation to donations r8Cokved under GrfIAtd or deeds of covenant rs recogwsed at th& timè ofthe donation. Lg9aaes are reo)gnised on r1p1 or otherwise rf the charity hos been notified of an impendin9 di$lribution. the amount is kntswn. and receipt is expe&ed. If the amount 1$ not kn(pwn, Ihe le9acy is treated as a o)nlln9ent asset.
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢Munting pollci•s (Continued) 1.6 Expenditure Expenditure is recognised orth there is a legal or &Jnstmdive obliga17 to transfer economic benefit lo a Ihird party. it is probable that a transfer of economk beneffts wilt be required in sètdemen( and the amount of thtr obligation can be measured reliabtry. ExpfjndhU 15 daSsffjd by acbwty. The costs of eath acbvity are made up of the total of dired c¢sts and shared ¢051s. induding support )Sts invofved in undertakn.ng each a¢bvity. Dirgct ts)sts attributable lo a single activty are allocated direclty to that acbvity. Shared costs whth L))ntribute to mor& than one activty and support tsjsts which are n¢X attributabk to a a¢bvity are apportioned between those acthbes on a basis consistent WTth the Ltse of resources. Cerbtral staff costs are allocated on the basi5 of lime spent. and depwiatron tharges a atlctated on the poition of the assefs use. Tanglbl• fixed assets Tangible fLxèd assets are inilialty measured at LYJSI and subs4uenUy measured al rJ)st or valuatvjn. nel of depreaalion and any impainient losses. Depreciation 1$ recognised so as to write off the c(t or valuation of assets18ss their residual walues over their USeft lives on the followirtg bases: Freehold Jand and tik11ng5 50 Years Freehold land and assets in the OfcastruC are not depreciated. The gain or105s arising on the disposal of an asset is delemiined as the drffeTenc8 between the sale proceeds and the c8nying wdlue of the asset. and 15 recognised in the stslement of financAal a¢tMties. 1.7 Impa•rnwntoffixed assots At each reportin9 end date. the charty reviews thtr carrying arnourts of its tangib assets to dotemin8 whether the is any indication that those a$5ets sUffed an impairment loss. If any such indication exi515. the reVerable amount of the asset is eslirnated in order to determine the exient of the imp8imient loss Crfany). 1J Cash and cash equivalgnts Cash and cash equOnI5 incfude cash in hand, deposTts hejd al rall banks. other short-term liquid Investments original mabjrities of three rnonths or less. and bank overdrafts. Bank overdrafts ar8 shown within borrowings in current •bl11es. 1.9 Flnanclal Imtrumerts The chaiity has oleded lo appty the provisn$ of Sedion 11 'Ba&c Financial Instruments. and Section 12 'Othar Financial Inslruments Issues. of FRS 102 to all of its finanaal instruments. Finandal instruments are re¢))gni£ed in the ch•itys balance sheet when the thaiity becomes party to the contractual prowsions of the InstrumenL Financaal assets and lia111$ are offset. wrth the rnt aThK)unts presented in the financyal stslemants, when there is a legalty enforceable iighl lo set off the recognised amounts and there is an intention to setue on a nel basis or to realise the asset and settl8 the liabdty simultaneousty.
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng polkl¢s (Continued) Basic finaneiala%sets Basi¢ financial assets. whth indude debtor3 and ¢a5h and bank balances, arg Initially measured at Ir8n$act*Jn price including transaction costs and arg subsequenty carried at amortised c051 using the effective interest method unless the arrangement constitutes a finan¢ing transaction. where the transaction is m8asured at the present value of Uie future receipts discs)unted al a markel rate of interesL Financial assets daS$ed 85 receivabk wtthin on8 year are not amthtis•J. Bas1¢ finan¢ialliabiliti Bas financral liabilthes, induding Lyedilors and b8nk roan$ are iniliany recognised at tran5adon price unless Ihe arrangement constitules a finan(ing transadion. where debt inslrnmenl 15 measured al the presènt value of the fuiufe payments discounbj at a market rdle of interesL Finaniial liabile$ dassifi8d 8$ payable wtthin one year ar8 nol amortised. D8bl instruments aro subsequenty ¢aftied at amorli5ed cosl. u5iThJ tha gffedive inlwesl rate method. Trad8 editOrS are obligations to pay for 9ocds or service$ that hakp been aCqUid in the ordinary coursg of operations from suppliers. Ajnounts payable a dassified as current liabilittes il payment is due within one year or less. If not, they are presented as non&(Tr$nI Ikqbilitses. Trade ueditors a r8cogni5ed intiialty at transaction price and subsequenty rneasu al amoitised cost usin9 the effective interest method. Dereeognlllon offinanelal li¥bilitMs Financgal liabililies are dere¢ogni5ed when the thari$ contra¢lual obligations e4Jire or are (fischarged or ncglled. 1.10 Employe• benefrts The c051 of any unused hoaY tieMent is recogntsed in the period in which the ernployee's servicos are received. T&minatr)n benefits are recognised Imrnedlefy as an expe8 when the charity is demonstrabty rmmItted to tgrninats the empfoymenl of an ernployee or to pro¥bJe lerminalion benefiis. Critlcal accounttng utimates and judgEm•nts In the application of the chariils a(>)Junting pofK4es. the trustees a fequired to make judgements, estimates and assumptions aboul Ihe carrying amount of assets and liabilitie$ that are not feadily apparent from other sources. The estimatss and asscciatefl assumptions 8re based on historical experienc8 and other that are )nSIdered to be vant Actual results may drfler from thèse esiimates. The estirnales and underfying assumptKins are re¥i8wed on an ongoing basis. Revision5 to actsjunling eslrmates are reojgnised in the period in whth the estimate is wsed where the remsion affects onty that per¥)d, or in the period of the revision and fvture perithls where the revision affeds both cuffent and future periods. Income from donatlons and legacl•s Unr•strictsd Unro8tr]ct8d funds funds 2023 2022 tyonations and gifts 191.412 99,995
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incon* from charilable actlvltles Unrgstrictsd UnYgstrl¢ted funds funds 2023 2022 Rental Incom• Charitatle rent irto)m& 18.180 25.622 Charitabb Charltabl• Expendi1• Expondlturè 2023 2022 Diroct costs Staff c051s Depreoation and impairment Rent and seThtce charges Ltghl and heat Gene expense Telephone and intem&t Printing and stalionary Insurance Bank fees Repaits and mainlenarKe Ac¢ountancy Cleaning Entert8inment Madrassa expense Soare costs Rates Subscription Olher direct costs 31,975 10211 14.740 10.476 20.174 10,211 14.072 2.328 109 1,761 801 1.34B 38 245 197 1.626 474 1.2C 288 100 2,536 2,418 27 4.245 81,336 S1,087 Analysls by fitnd Unrestri¢ted funds 81.336 51.087 Not movement In funds 2023 2022 The net movement in funds is slated after ching1(cle(rIllTrJ). DeprerAation of owned tangible fixed assets 10.211 10.211 10-
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trusts¢s None of the trustees (or any persons conned8d vriih them) receNed ary remuneration or b&ngfrts from the charity during the year. Employee3 The average monthty number of empbyees duriTrJ the year vras: 2023 Numbgr 2022 Number Employmgntcosts 2023 2022 Wages and salarigs 31.975 20.174 There were no employeeswhose annual rernunwati¢)n was more than £60.IY)O. Refflun•rdtion of koy manag•mBnt personn•l The remungfalv)n of key rnana9emenl personnel was as folknvs: Taxatlon The charity is exempl from twti¢)n on its ael1¥1 because its income is applied ftir charitablè purposes. 10 Tanglbh fixed assots Frnohotd tsnd As¥•ts undèr 4nd bulldlng¥ consthid Total Cost At 1 January 2023 Additions 560. 560.568 88.257 88.257 At 31 Decemt4r 2023 560.568 86.257 648.825 D•pr•¢iation and Impalmwnt At f January 2023 Depreaation tharged in Ihe year 10,211 10.211 10,211 10,211 At 31 DeeAmber 2023 20.422 20.422 Carrylng amount At 31 December 2023 540,146 88.257 628.403 At 31 December 2022 550.357 70.654 621.011 11
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Oebtors 2023 2022 Amounts falllng due withln on• year. Other debtors 6.143 10.250 12 Loans and overdrnfts 2023 2022 Otherloans- Qarze hasna 262.246 287.848 payab wilhin onè year 262,246 287,846 13 Croditors: amounts falllng duo vthhln on• year 2023 2022 Borrowings Other taxalKJn and social serajrdy Other creditors Accrua15 and defvrred kn¢ome 262.246 143 287,846 143 1,440 264,275 289.875 14 Unrestrlcted fund5 The unstriCted funds ofthe tharity c4Jmprise the unexpended balances of donations and grants which are not subject lo speofic o)ndTtions by donors and grantors a$ lo how they may be used. These indude de$Tgnaled thnds which have been Sgt asNJe out of unreslricted fvnds by the InleeS for speufic purposes. At 1 January kncomlng R•8ourG 2023 vesoureÈs •xp•nd At31 D•cambor 2023 General funds 375594 209,592 (81,336) $03,850 Provlou$ year. At 1 Janu coming R•sour¢ 2022 rMources èxpended At31 D•cembfrr 2022 Generdl fvnds 301,065 125.617 151.08T) 375.595 12-
NORTHOLT ISLAMIC CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 1S Charlty a¢ll¥ities On 14 April 2020. Northott Isfarnic Cèntre (Chaty registralion 11811591 ceased its acbvibes undei unincwraled tharity struCTe. The carity was converted lo CK) (Charitable Intsjrporated Organisalionl. Now Charity "Northott Islamtc Centre- was wi5tered on 14 April 2020 under CIO Foundation model hawng charity registration number 1189)47. On this dale tnjstees passed solUtiOn and Lransferred all assets and liabilities from old chanty "Northc4t IsLgmi¢ Cefttre - charity no: 11811591 to new charity "Northoll Islambc Centre- charity no.. I1847). 16 Related party transaelions There We no disdosable reL4ted party transion$ during the year (2022- none). 13-