REGISTERED CHARITY NUMBER: 1198742
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
FOR
MUSLIM EDUCATION CENTRE
MUSLIM EDUCATION CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
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Page
Trustees' Report 1
Statement of Financial Activities 2
Statement of Financial Position 3
Notes to the Financial Statements 4 to 5
Detailed Statement of Financial Activities 6
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MUSLIM EDUCATION CENTRE
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the religion of Islam, by means of, but not exclusively, promoting the teachings and tenets of Islam, provision of facilities for worship and provision of facilities for Islamic education, in accordance with the doctrine being the teachings of the Quraan and the Sunnah of the prophet Muhammad (Peace be upon him) as defined and interpreted by the Ahle Sunnah Waljamaah school of thought.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity is in the process of taking over from the existing Trust of the same name and continuing the valuable work and services it provides.During the year donations were received both general and restricted, the restricted donations were duly distributed in the year.
FINANCIAL REVIEW
Although Zakat restricted funds are in deficit, the certainty of Zakat donations received after the year end and the reserve balance in the general fund will cover the small deficit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation (CIO).
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1198742
Principal address
159 LOUGHBOROUGH ROAD Leicester LE4 5LR
Trustees
Mr Gulam Makadam Mr Ismail Gulam Makadam Mr Yusuf Ismail Mr Mohammed Ismail Dakri Mr Feizal Mussa
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Mr Feizal Mussa - Trustee
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MUSLIM EDUCATION CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other income |
Unrestricted fund £ 13,615 8 |
YEAR ENDED 31.3.24 Restricted Total fund funds £ £ 6,431 20,046 - 8 |
PERIOD 26.4.22 TO 31.3.23 Total funds £ - - |
|---|---|---|---|
| Total | 13,623 | 6,431 20,054 |
- |
| EXPENDITURE ON Charitable activities Zakat distributions |
- | 6,500 6,500 |
- |
| NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
13,623 - |
(69) 13,554 - - |
- - |
| TOTAL FUNDS CARRIED FORWARD | 13,623 | (69) 13,554 |
- |
The notes on page 0 form part of these financial statements
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MUSLIM EDUCATION CENTRE
STATEMENT OF FINANCIAL POSITION 31ST MARCH 2024
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Cash at bank and in hand 13,623 (69) NET CURRENT ASSETS/(LIABILITIES) 13,623 (69) TOTAL ASSETS LESS CURRENT LIABILITIES 13,623 (69) NET ASSETS 13,623 (69) FUNDS 4 Unrestricted funds Restricted funds TOTAL FUNDS |
31/3/24 Total funds £ 13,554 13,554 13,554 13,554 13,623 (69) 13,554 |
31/3/23 Total funds £ - - - - - - - |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr Feizal Mussa - Trustee
The notes on page 0 form part of these financial statements
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MUSLIM EDUCATION CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the period ended 31st March 2023.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the period ended 31st March 2023.
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MUSLIM EDUCATION CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Total funds £ NET INCOME - TOTAL FUNDS CARRIED FORWARD - |
|---|
| MOVEMENT IN FUNDS Net movement At At 1.4.23 in funds 31.3.24 £ £ £ Unrestricted funds General fund - 13,623 13,623 Restricted funds Zakat - (69) (69) |
| TOTAL FUNDS - 13,554 13,554 |
| Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds £ £ £ Unrestricted funds General fund 13,623 - 13,623 Restricted funds Zakat 6,431 (6,500) (69) |
| TOTAL FUNDS 20,054 (6,500) 13,554 |
4. MOVEMENT IN FUNDS
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2024.
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MUSLIM EDUCATION CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Other income No description |
YEAR ENDED 31.3.24 £ 20,046 8 |
PERIOD 26.4.22 TO 31.3.23 £ - - |
|---|---|---|
| Total incoming resources EXPENDITURE Charitable activities Grants to institutions |
20,054 6,500 |
- - |
| Total resources expended | 6,500 | - |
| Net income | 13,554 | - |
This page does not form part of the statutory financial statements
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