REGISTERED CHARITY NUMBER: 1190878 REPORT OF THE TRUSTELS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 FOR MASJID ABU BAiai WALTHAMsrow Prestons & Jacksons Partnership LLP 364- 368 Cranbrook Ro*J Ilford Essex IG2 6HY
MA ABU BAKR WALTHAMSTOW CONTEIYTS OF TllE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 P8e Rewirt of the Trtte1 1 kn 6 Ind¢p¢ndeDt EImlner'g Report St•temeDt arDelI1 A¢¢ivitie8 BalAn¢e She¢¢ 9 10 10 Notu to the FIIADelAI Stsiem¢nts 11 to 18 Detslled S¢tement of Ftsllcl#l A¢tlYltles 19 lo 20
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 The trustees pr¢s¢Di their rep)rt with the financial statements of the charity for the year ended 31 Januory 2024. The trustees have adopted th¢ provisions of A¢countin8 and ReFK)rting by Charities: Statement of R¢¢ommended Practice applicable to charities preparinB their accounts in 4¢¢ordanc¢ with the Firtantial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), Ch*irm#tt's Report In the name of Allah. the gracious and most merciful. By the will of Allah. we the management Committee are honoured, with anoiher year of serving the Masjid and our comtnunity. Only with the &ssistan¢¢ of Allah. a faniaslic oplrtUnIty has come about. For this y¢ar w¢ have made an eement to secure the house nexi d(M)r No.26. Having consulied some membeTS of the community we received blessing from them io Ik io pursue this endeavour. Considering the already existing remaining loans that are outstandin8 from the pr¢vious house projecL the managellnI and worshippers Still felt th4t this opportunity nol lo be missed. This would be a great mil¢stone in the history of ihe Masjid, as having pUrChd a how8¢ on Som¢rs Road during Covid with no congregation then to purchase another house next door just a few years after. A5 this hous¢ 15 right next door. the community has had their eyes sel on it from day on¢ of ih¢ exisnCe of the Masjid. Having yed the buying price with the seller and now rnising the fijnds to Secure the Pur$¢, we will be looking lo hAV¢ the keys to the Property in the coming months. Our vision is lo provide 4 Sister with a dedicate centre, so that the ladies in the communiry Can benefii from Ihe service5 lor th¢ Masjid. This was the initial vision when purchasin8 the howe on Somers Road. However. due lo the location in re]lOn io the Masjid and scale of work that would be rquircd. Ihis would have taken some years to accomplish. I pray ihai in the next rel we will hav¢ a fuwtionin8 Sislets centre, with a booming ¢ommunity evolving the ladi¢s of the community and had made many connectio. Mohimmed R#Yaq Page I
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 OWECTIVES AND AcfiviTtES Objectives, Alms and Public BeDefits RELIGIOUS ACTTVITES Pry¢r faellltlej Masjid Abu Bakr offers a wide range of r¢gular activities and services to &qter for the diverse needs of our Community. Being in a prim¢ location for tpIC who are working or shopping in town centre. we aim to keep our doors open for Fajr and then from 9:30 10 the last prayer of the day. FshL Details of services that tske place throughout the day are dethiled below. Additionally. we always Unde10nd the need to have a membtt of staff or voluntttr on sile who can be approached to assist you in your needs. The MLsjid can accommodaie up 10 5(K) worshippers within its building and when needed ulilis¢s th¢ open courtyard space to ac¢ommodak additional 200 people. Flv¢ Dilly Praytn Masjid offers 5 daily con8re8ational pray¢r5 lead by Maulana Hu7Aifa and Maulana Mohammed Moree The liming of ea¢h salah can be found on the yearly Calendar, monthly Newsletter, Masjid'$ Website, Phone app such as and My mosque and Masjid Timetable and loo can be found displayed in the main h&ll ¢locL We provide audio str¢am of the prayers so ihal 1 could Mill benefit from listening into the service. Jumuab PryerB Jumuah being the busiest time of lh¢ wttl Masjid provides 2 services lo accommodate the needs of locals and those who are working or travelling in W¢haMst0w Central. Masjid courtyard is us¢d io avoid worshipper5 from Praying on outside fTh)tpath. On Avern8< over 1.000 people attend the Friday afternoon prayer and benefit from Erkglish lects¢ (Bayaan) followed by Khutbah irt Arabic and then Salah. Month Of Rmthn Ramadan being the most bless¢d month draw5 more worshippers than any other month. To benefit th¢ large numbers of people attejxling during these blessed ys. daily Dais lessons w¢r¢ delivered by Imams and Speci guests to educate people on aspects of D¥¢n and io increase one's Imatn. We were fortuna1¢ lo ve Mufti Abdur Rahman ibn Yusuf Mangera delivering tslk3 throughout Ramadan. Regular reminders w¢r¢ made to tsckle noise issues and 911 worshippers were thised to avoid parking on Mansfield Road. We aim to WOTk ¢los¢ly with those worshipper5 and neighbours lo r¢solve the above issue. Events & Cl•$8¢s for Wom - Tafseer Ul Qurfan & Tajweed (Urdu) every Monday from I Ck12 - Tajweed & BukFwi Shareef {Urdu) every Tuesday from 10-12 - Juwa Me Ulkalam (Urdu) Bvkh8ri Dars every Wednesday from l 1-12 - Tafseeer in English 12..31>1:45 every Saturday - Aftemoon spiritual retreal (English) every of the month from 4 - Sist¢rs & Children Eid Funday SrdaY 23rd July 2022 14. - Every Sunday in Ramadh8n: Ramadan Qufan Dropin sessio 3:3fv5:30 - Monday to Thursday every week in Ramadan: Ramadan DaTS e Qur¥J) (Urdu) Page 2
REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 OWEcfivES AND AcrivrriES Pllblie benefit Tr trst¢es confirnied they have had regard to the Chariry Commission's guide on publi¢ benefits. Page 3
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 ACHIEVEWKENT AND PERFORTrIANCE CharitAble activities M¥dra5h This year Trs a new phLse for us due to the curriculum having run its full course. We are at the beginning stsges of establishing a t¢¢nage syllabus. InshaAllal4 we wish to see some fruition not least in lernis of young individua13 deep diving into advanced Islamic stlIeS and mature teenagers ¢ontribulin8 to community roles. S¢¥tlstlu We had 300 srud¢nts by end of July 2023. 63 new students enrolled. 54 students l¢ft during or at the end of year. Student attendance was 84Y• and puJKlualiry 97•/• at the end of 2023 academi¢ year. Exam results overall average was 69/•. 126 pupils (64Yo of all pupils who sat VAam) achieved 65Yo or more. Curricul & St*ff Upd•t A weekend Islamic DiploTna course was laUhed as an Opportlty for Madrasah leavers lo furth¢r their studies in Arabic. Tafseer. Had¢¢il4 Fiqh and Aqeedah. A special Fath to Paradise, Sunday youth scherne for girls was launched for temi time. 3-Day Classes were ¢xtended for all new students joining the youngesl cla&ses. This w&$ to ensure that slud¢nls who are already enroll¢d 8¢t priority to remain in 54ay cla55e5. This also [ered for p#renis' requests Io give redu¢¢d days to young children whilst they se¢ in. Arabic language lrial course was replaced with Madinah Arabic reader for a more structured approach. This subject continued for one particular agc group of boys and gtrls. Events & Aeth7lt Before breaking up for Summer Holidays, pupi15 Condled various perforniances in the presence of parents in the end of year Awards Ceremony. such &s speeche4 recitals. n&sheeds, play& el¢. Th¢ Year ended with a Sports, Day in Lloyd5 Park over 2 separate days for boys and girls. Parents were 4130 invited to attend. Both days wer¢ w¢ll attended. Teenage Madrasah trA)ys were invited to monthly youth events to enjoy fun activities, listen lo sp¢¢ches on the H¢r¢after series WMI tske part in meals. 60-80 boys attended most of whom wer¢ Madrn8ah children. During Summer holiday$, we provided: . Teenage boys were offered the OprtUnity to enrol in a Beginning of Guidance, course covering various topics... - Optional Madr&sah clas3e5 tontinued to run during $umm¢r holidays with a fo¢ of 1Sran and Salaah. 2 group51¢lasses of children participated. Masjid Abu Bakr co51&bornted with MadTasah]l Haq to tske part in an exclusive access to Flip Out Trampoline Park during Summer Holidays for ix)y$ and girls s¢p8rntely. - M&sjid Abu BakJ collthrnled with Teens Inspired to arrange self4ev¢lopm¢nt worksIpS for teenage boys during summer holidays. - A morning of Motivation ev¢nt held for sisters in October as part of the Path to ParlIse scheme. The event included bake sale. henna. talks. pr¢sentsiions, rcfleclion and free lunch. - A Speci &ssembly w&8 held by M1[aSa staff on th¢ topi¢ of Palestine. This was followed up with a fundrdiser in collaboration with UWT. madr#h liaised with Aida refugee camp in Palestine to give an opportunity for our children lo ommullicate wilh refvgee children in Palestine. - Th¢ first terni ended with an activtty day involving and games. Page 4
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JAI%WARY 2024 - A winter conference was organis¢d for sisters in December holidays &$ part of the Path to PoTadi5e scheme. - ApprOXimelY 30 boys took part in Fajr Knights winw ¢lwllenge during December holidays. FINANCIAL REVIEW Flnall¢ll position Total incomlng funds generated in the year were £407,948 (2023: £303,711) whilst total expenditure amounted to £279,592 (2023.'£233.274) leaving a surplus of £128J56 (2023: £70.437) in the year. Al the y¢ar Cled 31st January 2024, reserves Carried forward were £2.490217 {2023.' £2.361.861) of which £2.468.083 (2023.. £2.356.825) are unrestricted £22.134 (2023: £5.036) was restricted. FIDan¢knls Ann Fees Charged between £120 and £588 per pupil for various class types. - Total Income.. £95.465 - Total Expens¢s.' £102,590 - Voluntary ¢onlribuliOT.' £747 paid by parents in addilion to fees - Sadaqah fundin& £1.389 of Sadaqah income was allo¢ad loward5 fees for slru88]ing famili¢s Reservtj policy The charity aims lo maintain reserves sufficient to cover six months of expenses which equat¢5 10 Approximately £134,0 (excluding depreciation). Cash bank 8nd in hand at 31 January 2024 amounted to £179,103, rhe tnk8lees Consider this figure to be below the stsndard they require knd are aciively pl4nning lo raise the funds. STRUCTURE, GOVERNANCE AND MANAGEMENT GoverDID¥ doellmenl The charity govemin8 d(UMen1 is a CIO foundatii)n m(thl ¢onstituiion re8iSred with Charity Commission on 17th August 2020. charity is ntrolled by its governin8 documenL a deed of In¥L constitutes & Charitable IncoTPOTaled Organisation (CIO) as defined by Charities Act 2011. Reerultmet ald appolDtneDI of new trwte New trusl¢es wi be apwinted from the existing paid Members of the T. MembeT willing to become tTUStee shall have to submit the 'TruteS Appointment Fonn" duly filled to the Trust Offi¢e which is then considered for voting in the coming meeting of Trustee& REFFRFNCE AND ADMINITIVE DETAllS Reglstered Cbarlty number 1190878 Prineipl Addrui 26A Mansfield Ro Waltham5tow E176PJ Page 5
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 Tryitees Mohammed A R8zaq . Cbair Alxlur Rehman Majid- Secretary Syed Jam881 Rashid- Treosurer Mohsin Vaid Kamran Anwar Imran Majid - Appointcd on 3Td March 2023 Mohsin Sheikh - Appointed on 14th January 2023 Independent Examlner Anwer Patel, BA{Hons), FC& BFP Prestons & Jacksons Partnership LLP 364- 368 CTanbrook Road Tlford Essex IG2 6HY 371iila Approved by ord¢r of the boaTd of on ..... . ... . . . . and signed on its behalf by.. Trustcc Hu hl¥M1414rJ F(tsh& i&J Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF llldependeDt examiner's report to the trustees of Masjid Abu Bakr Waltham$tow I report to the charity trust¢¢s on my examination of the accounts of Masjid Abu Bakr Walthamstow (the Tnt) for the year ended 31 January 2024. ReJpo•8Sblildes *ttd lts of report As the charity tTUStees of the Trnst you are responsible for the PTepaTation of the xcounts in accordance with the requirements of ihe Charitie5 Act 2011 (the A¢V). I rep)rt in respect of rny examination of the Trust's accounts C8Tried out undeT Section 145 of the Act and in canying out my examination I have followed ail applicable Directio$ given by the Charity Commission under Section 145(5Xb} of the Act. Imdependemt eumln¢r'$ 8tst¢ment Since your charily5 gross exceeded £250.000 your examineT MU be a member of a lisied body. I can confirn) thai l am quaiifi¢d lo Underk¢ ihc examination because l am a member of the Instiwte of Chartered Accountants in England and Wales. which As one of the listed bodies. I have completed my examination. I confinn no maleria] matters have come to my attention in Connection with the examin4tion givin8 me ¢au5e lo believe that in any Menl respect: counting records were kept in respect of the TTUSt as required by Section 130 of the Act. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the forn) and content of accounts Set oul in the Chartties (Accounts and Reports) Regulations 2008 other than any requiremenl thal th¢ accounts 8ive a truc and fair view which is not a mattcr considered 85 part of an indepcndcnt examination. I have no concerns and have come across no other matters in connection with the examination to whi¢h attention should be drnwn in this report in order to enable a proper undemanding of the accounts to be re&hed. Anwer Patel. BA(Hon$), FCA, BFP Prestons & Jacksons Partnership LLP 364 - 368 CTanbrook Road Ilford Essex IG2 6HY Page 7
MASJID ABU BAKR WALTHAMSTOW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024 31.1.24 Total funds 31.1.23 Tolal funds UnTestricted Restricted fimds fund Notes INCOME FROM Donations 196351 66J33 262,584 206.132 Other Fundraising activities Inveslm¢nt income 106.451 38,913 106.451 38,913 81.299 16,280 Tot1 341.615 66J33 407,948 303,711 EXPENDITURE ON Raising funds 4,704 4,704 8,902 Ch8ritble ac¢lvl¢l Charitable Acivity Support Cost 209,637 16,016 49235 258872 16,016 203.656 20.716 Tot*l 230J57 4933S 279.592 233.274 NET INCOME 111358 17.098 128J56 70.437 RECONCILIATION OF FUNDS Total funds broughi forward 2J5A825 5,036 2J61.861 2,291,424 TOTAL FUNDS CARRIED FORWARD 2,46&083 22,134 2,490217 2,361,861 The tK)tes fomi part of these financial stat¢m¢nts Pa8e 8
MASIID ABU BAKR WALTHAMSTOW BALANCE SHEET 31 JANUARY 2024 31.1.24 31.1.23 Notes FIXED ASSETS Tangible ass¢ts Inveslment propety 10 1884.418 675,IXXI .894.117 675.0(K) IS59A18 2,569.117 CURRE ASSETS Stocks Cash 8t bank and in hand 12 4,259 90.900 179.103 182,414 95,159 CREDITORS Amounts falling due within one ye 13 (251.615) (302.41 S) NET CURRENT ASSETS (69JOI) (207.256) TOTAL ASSETS LESS CURRENT LIABILITIES 2.490217 2,361,861 NET ASSETS 2,490,217 2,361,861 The notes form part of these fmancial statements Page 9 ontinued...
MAID ABU BAKR WALTHAMSTOW BALANCE SHEET- condnued 31 JANUARY 21)24 FUNDS Unrestricted fimds: General fiwd Revaluation Reserves 15 520,083 1,948.(KK) 408,825 1.948.0(N) 2A68,083 2J56,825 Restricted funds: Restricted 22,134 5.036 TOTAL FUNDS 1490317 2,361.861 The fi cial ststemcnls were 8pproved by th¢ Board of Tn)stees and authorised for issue on . and were signed on its behalf by: Trnstee Truslec The notes forn] p3rt of these flljanciaj statcrncnts Pag¢ 10
NOTES TO THE FINANCIAL STATEMEYTS FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES Basis of preparing tb¢ Iln•n¢h•l s¢t¢m¢Dts The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in a¢cordanc¢ with the Clwities SORP (FRS 102} 'A¢¢ounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordante with the Firwicial Reporttng Standard applicable in the UK and R¢publi¢ of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Stsndard 102 Tr Financial RetM)rting Standard appli¢abl¢ in the UK and R¢publi¢ of Ireland, and the Charities Act 2011. The financial statements have been prepared under the hiorical cost conv¢nlion. Statulory Imforniatio Masjid Abu Bakr Walthamstow is a charitable in¢orFxirnted organisation (CIO) registered with Charity Commision in England and Wales. The registered olrice address can be found at the infollnalion page. IDeome All income is rttognised in the Statement of Fina1&1 Activilies on¢¢ the charity has entiilement to the fund& it is probable that the income will be received and the amount can be measured reliably. Donations are re¢o8nised when the charity receives them. Madrasah fees are recwised on a receivable bL8is. Rental income is reco1$ed on receivable basis. ExpeDditure and irrerovèrlble vat Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation Immitting the charity to that expenditure, it is probable that a transfer of economic benefits will b¢ required in settlement and the amount of the obligation can be measured reliably. Expenditure is ac¢ounted for on an acenlS basis and has been cl&ssified under headings that a88regAte all cost relot¢d to the ¢ate80ry. Where costs ¢annol be directly allrtbuted to particular hcadings they hve been allLKaled to activities on a bLsis ¢on5isient with the use of Tesource5. Irrecoverable VAT 15 charged against the exmIltUre heading foT which it Was incurr. Tangible fiied xsJet$ Tangible fix a55els are staled ai historical costl OT on a revaluation basis (deemed c¢)si for land and buildings) le accumulaled impaiTment losses. hiSrical cost includes expenditure that is direcily attributable to bringing th¢ asset lo the l(Kation and coThlition ne¢essary for it to be capable of op¢tating in the marmer intend¢d by managem¢nt. Depreciation is not Charged on the deemed value of land. Depreciation is charged so as io allocate the costs of assets less their residual value over their estimated useful liv¢s. wing ¢ith¢r a straight line or r&I1ng balan¢e method. as irmlicated below. D¢pr¢¢iation is provided on th¢ following buis: Property - IYr• Straighl Line Pag¢ll continucd...
MA&JID ABU BAKR WALTHAMSTOW NOTES TO THE FINANCIAL STATEMENTS - eontfinutd FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES- eottliDlled Tangible flled ssets Planl and Machinery - 20% Straight Line The assevs residual values. useful lives and depreciation meth(NJs ar¢ reviewe& and jUSted PTosmively if approprillte, or if there is In indication of a Silficant change sin¢¢ the l&st reporting date. Investment property Inveslment properiies are prowies that are held for financial gain. either through rental in¢om¢ or capiial appre¢iat?on. Investments proFrties are revalued and are stated al fair value. Any gainsllosses on revaluation are transferred to the Revaluation R¢servc. Stocks Stocks are valued at the lower of CO and rnjisable value. after making due allowance for obsolete and slow moving il¢ms. T*i8tlon The charity is exempt from tsx on its charitable activities. Unrestri¢l¢d funds ¢an be used in a¢¢ordance with the chariiable objectiv¢s at the discretion of the trust¢¢s. Restrieted funds c4n onIy be used for p8rti¢ular Testricted purposes within the objects of the ¢hari¢y. Restriclions arise when specified by the donor or when are raised for particular restricted purposes. FurtheT explanation of the n8n]re and purp)3e of each fund is included in lh¢ notes to the financial St&t¢ments. GolDg eODcerD The trustees consider the charity lo be able to witinue its operations. The charity has a net Current liability on the balance sheei dale. The InLSte¢s are confident of continuous suprx)rt from the Community. It is for this reason th¢ accounts have been prep4red on going concem basis. Page 12 continucd...
MASJID ABU BAKR WALTHAMSTOW NOTES TO THE FIYANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 DONATIONS 31.124 31.1.23 t)onalions Gift 8id 224J99 38.185 201.298 4,834 262J84 206,132 OTHER FUNDRAISING ACTIVITIFS 31.1.24 31.1.23 Madrassah Fees Shop income 95,465 10,986 76.788 4.511 106,451 81,299 INVESTMENT INCOME 31.1.24 31.1.23 Rents receivable 38,913 16.280 CHAIUTABLE ACTIVITIES COSTS Direct Costs sUprt costs Totsls Charitable Acivity Support Cost 255J18 3,054 16,016 258,872 16.016 255018 19,070 274,888 INDEPENDE EXAMINERS, REMUNERATION Independeni Examiner5, rejnuneration foT the year ended 315t January 2024 £2,000 (2023 £2,000) Page 13 continued...
MASJID ABU BAKR WALTHAMSTOW NOTES TO THE FINLNCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024 TRUSTEES, REMUNERATION AND BENEFITS There wwe no trees. Temunerntion or othv b¢nefits for the yeaT ended 31 January 2024 nor for the year ended 31 January 2023. Trnjlees. expeeS There were no truslees, ewnses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. STAFF COSTS 31.ia4 31.1.23 Wages and salaries 143,793 129.598 143,793 129.598 The aveTage Monthly number of employees during th¢ year w&s &8 follows: 31.1.24 31.1.23 14 Charity aJ)d operations No employees received emoluments in ¢xcess of £(A),il)O. Trustces consider theMlveS to be key maftagement personal. There was no Tvnuneration paid for these services. COMPARATIVLS FOR THE ATEMENT OF FINANCIAL ACTIVITIES 31.1.23 Unrestricted Restricted funds fund Total funds COME FROM Donations 179.477 26.655 206.132 Oiher Fundraising activities Investment income 81299 16280 81,299 16,280 Tot1 277.056 26.655 303,711 EXPENDITURE ON Raising funds 8.902 8,902 ChArltsblt etRvltles Charitable Acivity Support Cost 178,028 20.716 25,628 203.656 20.716 Tot*1 25.028 233,274 Page 14 continued...
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024 COMPARATIVES FOR THE STATEMENT OF Fll¥ANCIAL ACllVITIZS 31.123- eontitiued Unrestricted Restricted fimd Total funds NET INCOME 69.410 1.027 70,437 RECONCILIATION OF FUNDS Total funds brought forward 2287,415 2,291,424 TOTAL FUNDS CARRIED FORWARD 1356,825 5,036 2,361,861 10. TANGIBLE FIXED ASSETS Fixtures Freehold property fittings Totals cosr At l February 2023 and 31 January 2024 1.953314 1S967 .969,181 DEPRECIATION At l February 2023 Char8e for year 59,097 9,699 15,967 75,064 9,699 Ai 31 January 2024 6&796 15,967 84,763 NET BOOK VALUE Ai 31 J8nuary 2024 lJ84418 IW,418 At 31 January 2023 1,894,117 ,894,117 The Land value of £983.333 (2023.. £983.333) included in cost of laThl buildings which is not deprecialed. The amount of £1.884.418 (2023.. £1.894.1171 Incl in the cost of18nd and buildings which 1$ related to revduation of freehold propety. this has been shown in the revaluation reserve included in the general reserve. Pa8e 15 continued...
MASJID ABU BAKR WALTHAMSTOW NOTES TO THE FINANCJAL sfATEMENTS . ¢ontinu¢d FOR THK YEAR ENDED 31 JANUARY 2024 IA. JNVESTMENT PROPERTY FAIR VALUE At l Febnwy 2023 and 31 January 2024 675.000 ET BOOK VALUE Ai 31 January 2024 675JK)O At 31 January 2023 675.000 12. STOCKS 31.124 31.1.23 Finished goods 3Jll 4.259 13. CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR 31.1.24 31.1.23 Other Creditors 251,615 302,415 The othcr creditors include £249.61 S {2023.. £298.415) 15 interest free loans from the community. 14. ANALYSIS OF Nfr ASSETS BETWEEN FUNDS 31.1.24 Total funds 31.1.23 Tolal funds Unrestrictrd Restricted runds fund Fixed assets Investtnents Currem assets Current liabilities 1,884,418 675,IMJO 16028fy (251,615) 1,884,418 1.894,117 675,000 675,000 182,414 95,159 (251,615) (302,415) 22,134 2.468,1)83 22,134 1490317 1361.861 Page 16 ¢ontinucd...
MA&IID ABU BAKR WALTHAMSTOW NOTES TO THE FINANCIAL sTATEME1s - continued FOR THE YEAR ENDED 31 JANUARY 2024 I& MOVEMENT IN FUNDS Net mov¢ment in fvnds At 3111124 At IW23 Unrestricted fun Gen¢r81 fill R¢valuatii)n Reserves 408.825 1.94&1JIMI 111258 520,1 1,948,000 25625 111258 2,468,083 Restrlcted Restricted S036 17,098 22,134 TOTAL FUNDS 2J61.861 128J56 2,490217 Net movement in fimds. included in the above are as follows: Incoming Resources Movement resouwes expended in funds Unrejtrleted fuDdJ Oeneral fund 341.615 (230J57) 111258 Restrlcted fuDdx R¢strid¢d 66J33 (49335) 17.098 TOTAL FUIYDS 407948 (279,YJ2) 128?56 Comp*raefveJ for movemeD¢ ID fun Net movement in funds At 3111123 At If2Q2 Unrdtritted fllnds General fund Revaluation Reser4es 339,415 1,948.1) 69.410 408.825 1,948.01)0 2287,415 69,410 2,356,825 Re8trleted funds Restrid¢d 1.027 5.036 TOTAL FUNDS 2291.424 70.437 2.361.861 Page 17 continued...
MA&JID ABU BAKR WALTIIAMSTOW NOTES TO THE FINANCIAL STATEMENTS- ¢oDtinvd FOR THE YEAR ENDED 31 JANUARY 2024 15. mOVEmEr IN FUNDS. eontlDued Comparaliv¢ net movement in fimd4 included in the alx)ve are as follows.. Incoming Resources Movement resources expended in funds Unrestricted General fund 277.056 (207.646) 69,410 Reytricted funds Restricled 26,655 (25.628) ,027 TOTAL FUIWS 303,711 (233.274) 70.437 ADtysls of Rejtrlettd R¢Rrves ¢4rrkd forward it 31$t Jn•4ry 2024, 31.12024 31.1.2023 Funds: Amoumt {£) Amount (£) Sdiqh 22.133 5,036 16. RELATED PARTY DISCIAISURES There were no related pHty transactions foT the year ended 31 January 2024. 17. CHANGE IN LEGAL STRucfuRE As outlined from parawh 27.14 of the SORP. Masjid Abu Bakr (previously r¢gi$t¢r¢d UDd¢r Charity number 1145777). has registered as a Charilable Incorporated Organisation (CIO) under 8 new charity number 1190878 on the 17th Aug 2020. The entity is now kmwn 4$ Masjid Abu Bjkr WAltham$tow which siarted trading from 1st February 2023. The charitable objectives remain unchanged and all sets and liabilities were tsken over by the M&sjid Bakr Walthamstow. The current y¢arfs figure represent the merged figures for the year ended 31 st January 2024. The comparative figure5 relate to the old ¢harity. Page 18
MA&TID ABU BAKR WALTHAMSTOW DETAILED STATEME OF FIYANCIAL ACTIVITJES FOR THE YEAR Ehl)ED 31 JANUARY 2024 31.1.24 31.1.23 JNCOME DoDtioDJ Donations Gift aid 224J99 3&185 201,298 4.834 262,584 206,132 Other FuodralslD¥ ¢tivlti¢J Mmdrwah Fees Shop 95,463 10,986 76,788 4,511 106,451 81.299 IDvestm¢Dt In¢om¢ R¢nls receivable 38,913 16.280 Total In¢omln8 resources 407,948 303.711 EXPENDuRE Raljlthi donx¢lons #nd Iw¢l Events Costs 3,757 260 Other tr*dln8 #ctivllks Purchases 947 8,642 Charltsble •ctfvliles Wages Books & Madressa related Costs Sundries Donation- House Project India Sadaqah Donations Depreciation of t4ngibl¢ fix¢d &8sets 143,793 49236 3,855 129,598 32,301 1,123 5,307 25,628 9,699 49235 9,699 25318 203,656 Support eosts M8nagemeDt Insurance Light 8nd heat Carried forward 1,804 S596 4,128 5,929 This pa8e does not forni part of the statutory financial stakments Page 19
MA&IID ABU BAKR WALTHAMSTOW DETAILED STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR EIWED 31 JANUARY 2024 31.1.24 31.1.23 MaD*gemeDt Brought forward Postage and stationery Cleaning Materials Furnilure & Equipment Repairs & Renewals CCTV, ICT & Audio 5,929 2.293 2,674 615 3.217 1,239 994 254 2,787 1.416 J6,016 15,967 Governance Colts Ind¢pendent exarninevs fee Legal fees 2,000 1.054 2.749 3,054 4.749 Total resource5 expenikd 279592 233,274 Net incomt 128J56 70,437 This page does not fomi part of the statutory financial statements Page 20