Dar Al-Islam Centre
Charity No. 1197956
Company No. CE028367
Trustees' Report and Unaudited Accounts
28 February 2023
Dar Al-Islam Centre Contents
| Pages | |||
|---|---|---|---|
| Trustees' Annual Report | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Summary Income and Expenditure Account | 4 | ||
| Balance Sheet | 5 | ||
| Statement of Cash flows | 6 | ||
| Notes to the Accounts | 7 | ||
| Detailed Statement of Financial Activities | 8 | to | 16 |
Page 1
Dar Al-Islam Centre Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 28 February 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. CE028367
Charity No. 1197956
Principal Office
61 Anson Road London NW2 3UY
Registered Office
61 Anson Road London NW2 3UY
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
H. Al-Najafi A. Al-Saraj M. Baraka S. Hussain
Accountants
Nova Accountants LTD Suite 3313 Unit 3a 34-35 Hatton Garden London EC1N 8DX
Bankers
Lloyds Bank
OBJECTIVES AND ACTIVITIES
1) To advance the religion of Islam, by means of, but not exclusively, promoting the teachings and tenets of Islam, provision of facilitlies for worship and events, facilities for marriage and other activities as determined from time to time, in accordance with the tenets of Muslim Shia Ithna-Ashari Faith. 2) To advance eduction for the benefit of the general pubic by means of, but not exclusivley, the provision or the assistance in the provision of eductional activities and facilities, such as tuition, nurseries and schools.
The main activities undertaken in relation to those purposes marriage and wedding services, funeral services, Friday prayers, VIsits and Tours, Library, Marriage and Mental health counselling. On top of other activities.
Page 2
Dar Al-Islam Centre Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
The activities mentioned above generated a community engagement for example Iftar during Ramadan and youth activities.
FINANCIAL REVIEW
The trustees would like to hold enough reserves in order to fund the new deceased washroom and extension, which is currently being built in year 2.
PLANS FOR FUTURE PERIODS
Our primary focus will be on providing high-quality services that address the pressing needs of the community. We intend to conduct surveys and capitalise on the knowledge of the trustees.
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 Companies Act 2006. 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.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
M. Baraka Trustee 28 February 2023
Page 3
Dar Al-Islam Centre Independent Examiners Report
Independent Examiner's Report to the trustees of Dar Al-Islam Centre
I report to the charity trustees on my examination of the financial statements of Dar Al-Islam Centre for the period ended 28 February 2023.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Darren Warren FMAAT Paxton Independent Examiners 61A High Street South Rushden Northants NN10 0RA 09/12/2023
Page 4
Dar Al-Islam Centre Statement of Financial Activities
for the period ended 28 February 2023
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Total Expenditure on: Charitable activities 6 Other 7 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds carried forward |
Unrestricted funds 2023 £ 99,073 5,674 54,851 |
Total funds 2023 £ 99,073 5,674 54,851 |
|---|---|---|
| 159,598 11,886 80,747 |
159,598 11,886 80,747 |
|
| 92,633 - |
92,633 - |
|
| 66,965 - |
66,965 - |
|
| 66,965 | 66,965 | |
| 66,965 | 66,965 | |
| 66,965 | 66,965 |
Page 5
Dar Al-Islam Centre Summary Income and Expenditure Account for the period ended 28 February 2023
| Income Gross income for the period Expenditure Total expenditure for the period Net income before tax for the period Net income for the period |
2023 £ 159,598 |
|---|---|
| 159,598 | |
| 92,633 | |
| 92,633 | |
| 66,965 | |
| 66,965 |
Page 6
Dar Al-Islam Centre Balance Sheet
at 28 February 2023
| at 28 February 2023 | ||
|---|---|---|
| Company No. CE028367 |
Notes | 2023 |
| £ | ||
| Fixed assets | ||
| Tangible assets | 10 | 13,167 |
| 13,167 | ||
| Current assets | ||
| Debtors | 11 | 3,859 |
| Cash at bank and in hand | 52,832 | |
| 56,691 | ||
| Creditors: Amount falling due within one year | 12 | (2,893) |
| Net current assets | 53,798 | |
| Total assets less current liabilities | 66,965 | |
| Net assets excluding pension asset or liability | 66,965 | |
| Total net assets | 66,965 | |
| The funds of the charity | ||
| Unrestricted funds | 13 | |
| General funds | 66,965 | |
| 66,965 | ||
| Reserves | 13 | |
| Total funds | 66,965 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the period ended 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 28 February 2023
And signed on its behalf by:
M. Baraka Trustee 28 February 2023
Page 7
Dar Al-Islam Centre Notes to the Accounts
for the period ended 28 February 2023
- 1 Accounting policies
Basis of preparation
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 Companies Act 2006.
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 8
Dar Al-Islam 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 corporation 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 9
Dar Al-Islam 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 company pays fixed contributions into a separate entity. Once the contributions have been paid the company 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 company 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.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
Dar Al-Islam Centre Notes to the Accounts
3 Income from donations and legacies
| Donations Donations from previous foundation 4 Income from charitable activities 5 Income from other trading activities Rental Income 6 Expenditure on charitable activities Governance costs 7 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs |
Unrestricted £ 40,073 59,000 99,073 Unrestricted £ 5,674 5,674 Unrestricted £ 54,851 54,851 Unrestricted £ 11,886 11,886 Unrestricted £ 249 53,070 14,114 10,502 2,812 80,747 |
Total 2023 £ 40,073 59,000 |
|---|---|---|
| 99,073 | ||
| Total 2023 £ 5,674 |
||
| 5,674 | ||
| Total 2023 £ 54,851 |
||
| 54,851 | ||
| Total 2023 £ 11,886 |
||
| 11,886 | ||
| Total 2023 £ 249 53,070 14,114 10,502 2,812 |
||
| 80,747 |
Page 11
Dar Al-Islam Centre Notes to the Accounts
8 Trustee remuneration and expenses
| The nature of the reimbursed expenses zero 9 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. 10 Tangible fixed assets Cost or revaluation Additions At 28 February 2023 Net book values At 28 February 2023 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Other taxes and social security Other creditors Accruals |
2023 Number 2023 51,859 1,181 53,040 £ 810 810 810 2023 £ 3,859 3,859 2023 £ 2,533 359 1 2,893 |
£ 12,357 12,357 12,357 |
Number £ 13,167 |
|---|---|---|---|
| 13,167 | |||
| 13,167 | |||
Page 12
Dar Al-Islam Centre Notes to the Accounts
13 Movement in funds
| Unrestricted funds: General funds Total funds 14 Analysis of net assets between funds Fixed assets Net current assets 15 Reconciliation of net debt Cash and cash equivalents Net debt |
Incoming resources (including other gains/losses ) £ 159,598 159,598 Unrestricted funds £ 12,357 53,798 66,155 |
Resources expended £ (92,633) (92,633) Restricted funds £ 810 - 810 Cash flows £ |
At 28 February 2023 £ 66,965 |
|---|---|---|---|
| 66,965 | |||
| Total £ 13,167 53,798 |
|||
| 66,965 | |||
| At 28 February 2023 £ |
|||
| 52,832 | 52,832 | ||
| 52,832 52,832 |
52,832 | ||
| 52,832 | |||
| 16 Commitments |
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2023 | 2023 | |
|---|---|---|
| Land and buildings |
Other | |
| £ | £ | |
| Operating leases with expiry date: | ||
| Pension commitments | ||
| 2023 | ||
| £ | ||
| The pension cost charge to the company | ||
| amounted to: | 1,181 |
Page 13
Dar Al-Islam Centre Notes to the Accounts
17 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
Dar Al-Islam Centre Detailed Statement of Financial Activities for the period ended 28 February 2023
| Income and endowments from: Donations and legacies Donations Donations from previous foundation Charitable activities Other trading activities Rental Income Total income and endowments Expenditure on: Governance costs Total of expenditure on charitable activities Other expenditure Employee costs Salaries/wages Pension costs Temporary staff Premises costs Rates Light, heat and power Premises repairs and maintenance General administrative costs, including depreciation and amortisation Bank charges Equipment expensed General insurances |
Unrestricted funds 2023 £ 40,073 59,000 99,073 5,674 5,674 54,851 54,851 159,598 11,886 11,886 11,886 249 249 51,859 1,181 30 53,070 1,423 4,483 8,208 14,114 159 2,175 3,772 |
Total funds 2023 £ 40,073 59,000 |
|---|---|---|
| 99,073 | ||
| 5,674 | ||
| 5,674 | ||
| 54,851 | ||
| 54,851 | ||
| 159,598 11,886 |
||
| 11,886 | ||
| 11,886 249 |
||
| 249 | ||
| 51,859 1,181 30 |
||
| 53,070 | ||
| 1,423 4,483 8,208 |
||
| 14,114 | ||
| 159 2,175 3,772 |
Page 15
Dar Al-Islam Centre
Detailed Statement of Financial Activities
| Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs 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 |
2,237 701 198 1,260 10,502 1,625 1,187 2,812 80,747 92,633 - 66,965 66,965 - 66,965 - 66,965 |
2,237 701 198 1,260 |
|---|---|---|
| 10,502 | ||
| 1,625 1,187 |
||
| 2,812 | ||
| 80,747 | ||
| 92,633 - |
||
| 66,965 | ||
| 66,965 - |
||
| 66,965 | ||
| - | ||
| 66,965 |
Page 16