```
REGISTERED COMPANY NUMBER: 12788773 (England and Wales)
REGISTERED CHARITY NUMBER: 1198897
```
## **`REPORT OF THE TRUSTEES AND`**
```
AUDITED FINANCIAL STATEMENTS
```
```
FOR THE YEAR ENDED 31 DECEMBER 2024
```
## **`FOR`**
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
(A COMPANY LIMITED BY GUARANTEE)
```
```
Barrow LLP
Statutory Auditor
Rae House
Dane Street
Bishops Stortford
Herts
CM23 3BT
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024`**
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`4`|
|**`Report of the Independent Auditors`**|`5`|`to`|`6`|
|**`Statement of Financial Activities`**||`7`||
|**`Balance Sheet`**|`8`|`to`|`9`|
|**`Cash Flow Statement`**||`10`||
|**`Notes to the Cash Flow Statement`**||`11`||
|**`Notes to the Financial Statements`**|`12`|`to`|`19`|
```
CHEAM MUSLIM WELFARE SERVICES LIMITED (REGISTERED NUMBER: 12788773)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwiththe financial
statementsof thecharityfortheyearended31 December2024.Thetrusteeshaveadoptedtheprovisionsof Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`Purpose and Aims`**
```
Thecharity'sobjectistoadvancetheIslamicfaith,particularlyinCheam,Belmont,SuttonandSurrey,andelsewhereforthebenefit of
the public, mainly but not exclusively through prayer meetings, lectures, and the celebration of religious festivals.
```
## **`Ensuring our work delivers this aim`**
```
The Trusteesregularlyreviewthis aim and the outcomesof the Charity'sactivity,assessingthe progressof each activityand the benefits
providedtothegroupsandindividualsbeinghelped.SuchreviewsenabletheTrusteestobesatisfiedthatthevariousactivities remain
focussedon the statedpurposesof the Charity.Due note has been taken of the CharityCommission'sgeneralguidanceon public benefit
in these reviews and in planning future activities.
```
## **`Charitable activities`**
```
During the year, the charity successfully delivered a wide range of activities for the local Muslim community:
```
- `Weekly Friday prayers, open to the public.`
- `Taraweeh prayers during the month of Ramadan.`
- `Eid prayers held in Belmont for the wider community.`
- `The purchase of a freehold property in Belmont to serve as a future community centre, providing a permanent base for prayer,`
- `education, and welfare activities.`
## **`Financial review`**
```
The charity generated a surplus during the year. Total income amounted to £1,038,887, primarily from individual donations.
```
```
Expenditure on charitable activities was £94,267, resulting in net income of £944,620.
```
```
At the year end, total funds stood at £1,148,621, of which all were unrestricted.
```
```
This includes the freehold property purchase of £920,158 for the Belmont site.
```
```
The trustees confirm that no trustee received remuneration during the year
```
```
.
```
## **`Reserves policy`**
```
Thetrusteeshaveconsideredthelevelofreservesthatthecharityshouldholdinordertoensurefinancialstabilityandtheability to
continue to meet its charitable objectives.
```
```
The trusteeshaveagreedto maintainunrestrictedreservesequivalentto threeto six monthsof regularoperatingexpenditure (estimated
between £25,000 and £50,000).
```
```
At 31 December 2024, the charity held unrestricted reserves of £1,155,180, significantly above the target level.
```
```
This reflects the acquisition of long-term property assets and funds held for future community development.
```
```
The trustees are satisfied that the current reserves position is appropriate and will review the policy annually.
```
## **`Future plans`**
```
Looking ahead, the trustees plan to:
```
```
- Progress the conversion of the Belmont property into a community centre, providing prayer facilities, classrooms, and welfare services.
```
- `Expand religious and educational programmes, including Qur'an classes and youth activities.`
- `Increase community engagement and broaden outreach across Sutton and surrounding areas.`
```
Page 1
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED (REGISTERED NUMBER: 12788773)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
```
- Strengthen fundraising to ensure sustainable long-term development.
```
## **`Public benefit statement`**
```
The trustees confirm that they have complied with their duty to have due regard to the Charity Commission's guidance on public benefit.
```
```
Our activities provide clear public benefit by:
```
- `Offering accessible spaces for worship and spiritual growth.`
- `Supporting community cohesion through religious festivals and gatherings.`
- `Promoting education and understanding of the Islamic faith.`
- `Laying the foundation for a permanent centre that will provide long-term benefits for the community in Cheam, Belmont and beyond.`
## **`Risk Statement`**
```
TheTrusteesreviewallaspectsofthecharity'sfinancesandwilltakewhateveractionisappropriatetoprotectthecharity's financial
status.A newriskmatrixforthecharitywasadopted,inlinewithCharityCommissionguidance,andwillbereviewedannually,or more
frequently should the need arise.
```
```
The principal risks to which the charity is exposed and a brief description of the mitigations are: -
```
## **`Risk`**
```
Governance:-theriskthattheSocietydoesnotachieve its
charitable,regulatoryandethicalobjectivesdueto inadequate
governance.
```
## **`Mitigation`**
```
TheSocietyhasa diverseTrusteeBoardthathasthe necessary
skills to provide good oversight and governance of the Society.
```
```
FraudandFinancialCrime:- TheriskthattheSocietyis subjectTheSocietyhasaFraudPolicythatisregularlyreviewed and
to fraud or other financial crimes.describes the policy and procedures to minimise this risk.
```
## **`Our approach to fundraising`**
```
Thefundraisingapproachtakenbythecharityistoopenapublicappealtoraisefundstosupporttheoperationalworkofthe charity.
Currentlythetrusteeshavenoplanstoretainaprofessionalfundraiserorcommercialparticipatortoassistwiththese fundraising
activities;
```
```
ThetrusteesarepursuingregistrationwiththeFundraisingRegulatorandwilllooktoadheretothepracticethisbodyrecommends in
addition to adhering to guidance issued by the Charity Commission;
```
## **`STRATEGIC REPORT`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
Thecharityis controlledby itsgoverningdocument,a deedof trust,andconstitutesa limitedcompany,limitedby guarantee,as defined
by the Companies Act 2006.
```
```
The organisation was incorporated on 3 August 2020.
```
```
In the event of winding up, members are required to contribute an amount not exceeding £1.
```
```
TrusteesareappointedinaccordancewiththeArticlesofAssociationandareresponsibleforthestrategicdirection,governance and
oversight of the charity's activities.
```
```
Thedirectorsofthecharitablecompany(thecharity)areitstrusteesforthepurposeofcharitylaw.Thetrusteesandofficers serving
during the year and since the year end were as follows:
```
```
Page 2
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED (REGISTERED NUMBER: 12788773)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`**
```
12788773 (England and Wales)
```
## **`Registered Charity number`**
```
1198897
```
## **`Registered office`**
```
4c Upper Mulgrave Road
Cheam
Surrey
SM2 6JY
```
## **`Trustees`**
```
Dr A Khan
S A A Mareel
M Masood (appointed 1.1.25)
S U Rahaman
M Sherwani
U Shirwani
H M Shirwani
```
```
Auditors
Barrow LLP
Statutory Auditor
Rae House
Dane Street
Bishops Stortford
Herts
CM23 3BT
```
## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`**
```
The trustees(who are also the directorsof Cheam MuslimWelfareServicesLimitedfor the purposesof companylaw) are responsible for
preparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicablelawandUnitedKingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice).
```
```
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea trueandfairviewofthestate of
affairsofthecharitablecompanyandoftheincomingresourcesandapplicationofresources,includingtheincomeandexpenditure, of
the charitable company for that period. In preparing those financial statements, the trustees are required to
```
- `select suitable accounting policies and then apply them consistently;`
- `observe the methods and principles in the Charity SORP;`
- `make judgements and estimates that are reasonable and prudent;`
- `state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;`
- `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.`
```
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytimethe financial
positionof the charitablecompanyand to enable them to ensurethat the financialstatementscomplywith the CompaniesAct 2006. They
are also responsiblefor safeguardingthe assetsof the charitablecompanyand hencefor takingreasonablestepsfor the prevention and
detection of fraud and other irregularities.
```
```
Page 3
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED (REGISTERED NUMBER: 12788773)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued`**
```
In so far as the trustees are aware:
```
- `there is no relevant audit information of which the charitable company's auditors are unaware; and`
- `the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.`
## **`AUDITORS`**
```
The auditors, Barrow LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
```
```
Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,asthecompanydirectors, on
29 September 2025 and signed on the board's behalf by:
```
```
H M Shirwani - Trustee
```
```
Page 4
```
```
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`Opinion`**
```
WehaveauditedthefinancialstatementsofCheamMuslimWelfareServicesLimited(the'charitablecompany')fortheyear ended
31 December2024whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCashFlowStatementandnotesto the
financialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathasbeenapplied in
their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
```
## `In our opinion the financial statements:`
- `give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;`
- `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and`
- `have been prepared in accordance with the requirements of the Companies Act 2006.`
## **`Basis for opinion`**
```
We conductedour auditin accordancewithInternationalStandardson Auditing(UK)(ISAs(UK))and applicablelaw.Our responsibilities
underthosestandardsare furtherdescribedin the Auditors'responsibilitiesfor the auditof the financialstatementssectionof our report.
We areindependentof thecharitablecompanyin accordancewiththeethicalrequirementsthatarerelevantto ourauditof the financial
statementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourotherethicalresponsibilitiesinaccordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
```
## **`Conclusions relating to going concern`**
```
In auditingthe financialstatements,we have concludedthatthe trustees'use of the goingconcernbasisof accountingin the preparation
of the financial statements is appropriate.
```
```
Basedon the workwe have performed,we have not identifiedany materialuncertaintiesrelatingto eventsor conditionsthat, individually
or collectively,may cast significantdoubt on the charitablecompany'sabilityto continueas a going concernfor a periodof at least twelve
months from when the financial statements are authorised for issue.
```
```
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedintherelevantsectionsof this
report.
```
## **`Other information`**
```
Thetrusteesareresponsiblefortheotherinformation.TheotherinformationcomprisestheinformationincludedintheAnnual Report,
other than the financial statements and our Report of the Independent Auditors thereon.
```
```
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextentotherwiseexplicitlystatedin our
report, we do not express any form of assurance conclusion thereon.
```
```
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso, consider
whethertheotherinformationis materiallyinconsistentwiththefinancialstatementsor ourknowledgeobtainedin theauditor otherwise
appearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequired to
determinewhetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwe have
performed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.We have
nothing to report in this regard.
```
```
ThefinancialstatementsofCheamMuslimWelfareServicesLimitedfortheyearended31December2023,whicharepresented as
corresponding figures in the accompanying financial statements, were not audited. Accordingly, we do not express an opinion on them.
```
## **`Matters on which we are required to report by exception`**
```
We have nothingto reportin respectof the followingmatterswhere the Charities(Accountsand Reports)Regulations2008 requiresus to
report to you if, in our opinion:
```
- `the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or`
- `the charitable company has not kept adequate accounting records; or`
- `the financial statements are not in agreement with the accounting records and returns; or`
- `we have not received all the information and explanations we require for our audit.`
```
Page 5
```
```
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`Responsibilities of trustees`**
```
As explainedmorefullyin the Statementof Trustees'Responsibilities,the trustees(whoare alsothe directorsof the charitable company
forthepurposesofcompanylaw)areresponsibleforthepreparationofthefinancialstatementsandforbeingsatisfiedthattheygive a
trueandfairview,andforsuchinternalcontrolasthetrusteesdetermineis necessarytoenablethepreparationoffinancial statements
that are free from material misstatement, whether due to fraud or error.
```
```
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sabilitytocontinueasa going
concern,disclosing,as applicable,mattersrelatedto goingconcernand usingthe goingconcernbasisof accountingunlessthe trustees
either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
```
## **`Our responsibilities for the audit of the financial statements`**
```
WehavebeenappointedasauditorsunderSection145oftheCharitiesAct2011andreportinaccordancewiththeActand relevant
regulations made or having effect thereunder.
```
```
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrom material
misstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludesouropinion. Reasonable
assuranceis a highlevelof assurance,but is not a guaranteethatan auditconductedin accordancewithISAs(UK)willalwaysdetect a
materialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorin the
aggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthese financial
statements.
```
```
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
```
```
- Discussionswiththetrusteesandmanagement,includingconsiderationofknownorsuspectedinstancesofnon-compliancewith laws
and regulation and fraud;
```
- `Evaluation of management's internal controls designed to prevent and detect irregularities;`
- `Reading key correspondence with the Charity Commission in relation to compliance with laws and regulations;`
- `Reviewing relevant meeting minutes;`
- `Procedures relating to the valuation of investments and vouching with third party confirmations.`
- `Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations impacting revaluation; and`
- `Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing.`
```
A furtherdescriptionof our responsibilitiesfor the audit of the financialstatementsis locatedon the FinancialReportingCouncil's website
at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
```
## **`Use of our report`**
```
Thisreportismadesolelytothecharitablecompany'strustees,asabody,inaccordancewithPart4oftheCharities(Accounts and
Reports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstatetothecharitablecompany'strustees those
matterswe are requiredto stateto themin an auditors'reportand for no otherpurpose.To the fullestextentpermittedby law, we do not
acceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyandthecharitablecompany'strusteesasabody,for our
audit work, for this report, or for the opinions we have formed.
```
```
Barrow LLP
Statutory Auditor
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
Rae House
```
```
Dane Street
Bishops Stortford
Herts
CM23 3BT
```
```
29 September 2025
```
```
Page 6
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`EXPENDITURE ON`**
`Raising funds`
`4`
**`Charitable activities`**
`5`
`Expenditure on charitable activities`
`Catering`
`Community`
`Grants and donations`
`Badminton`
`Imams and gym instructors`
`Other`
**`Total`**
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`1,032,467`
`14,260`
`-`
`16,123`
`50`
`2,983`
`1,000`
`34,559`
`27,272`
`96,247`
`936,220`
`204,001`
`1,140,221`|`Restricted`
`fund`
`£`
`6,419`
`-`
`-`
`-`
`-`
`6,419`
`-`
`-`
`-`
`6,419`
`-`
`-`
`-`|`31.12.24`
`Total`
`funds`
`£`
`1,038,886`
`14,260`
`-`
`16,123`
`50`
`9,402`
`1,000`
`34,559`
`27,272`
`102,666`
`936,220`
`204,001`
`1,140,221`|`31.12.23`
`Total`
`funds`
`£`
`222,484`|
|---|---|---|---|---|
|||||`6,522`
`8,277`
`6,237`
`-`
`6,618`
`-`
`-`
`6,363`|
|||||`34,017`|
|||||`188,467`
`15,534`|
|||||`204,001`|
```
The notes form part of these financial statements
```
```
Page 7
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED (REGISTERED NUMBER: 12788773)
```
## **`BALANCE SHEET 31 DECEMBER 2024`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`11`
**`CURRENT ASSETS`**
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`12`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`13`
**`NET ASSETS`**
**`FUNDS`**
`14`
`Unrestricted funds:`
`Unrestricted fund`
`Property reserves`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`1,081,442`
`224,721`
`(98,942)`
`125,779`
`1,207,221`
`(67,000)`
`1,140,221`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`31.12.24`
`Total`
`funds`
`£`
`1,081,442`
`224,721`
`(98,942)`
`125,779`
`1,207,221`
`(67,000)`
`1,140,221`
`58,779`
`1,081,442`
`1,140,221`
`1,140,221`|`31.12.23`
`Total`
`funds`
`£`
`175,000`
`29,301`
`(300)`
`29,001`
`204,001`
`-`
`204,001`
`29,001`
`175,000`
`204,001`
`204,001`|
|---|---|---|---|---|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
31 December 2024.
```
```
Themembershavenotdepositednotice,pursuanttoSection476oftheCompaniesAct2006requiringanauditofthese financial
statements.
```
```
The trustees acknowledge their responsibilities for
```
- `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and`
- `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.`
```
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
```
```
The notes form part of these financial statements
```
```
Page 8
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED (REGISTERED NUMBER: 12788773)
```
## **`BALANCE SHEET - continued 31 DECEMBER 2024`**
```
The financialstatementswere approvedby the Board of Trusteesand authorisedfor issue on 29 September2025 and were signedon its
behalf by:
```
```
H M Shirwani - Trustee
```
```
The notes form part of these financial statements
```
```
Page 9
```
## **`CHEAM MUSLIM WELFARE SERVICES LIMITED`**
|**`CASH FLOW STATEMENT`**
**`FOR THE YEAR ENDED 31 DECEMBER 2024`**
`31.12.24`
`Notes`
`£`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`1,115,578`
`Net cash provided by operating activities`
`1,115,578`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`(920,158)`
`Net cash used in investing activities`
`(920,158)`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
`195,420`
**`Cash and cash equivalents at the beginning of`**
**`the reporting period`**
`29,301`
**`Cash and cash equivalents at the end of the`**
**`reporting period`**
`224,721`|`31.12.23`
`£`
`188,317`
`188,317`
`(175,000)`
`(175,000)`
`13,317`
`15,984`
`29,301`|
|---|---|
```
The notes form part of these financial statements
```
```
Page 10
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`**
|**`1.`**
**`RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`**|||
|---|---|---|
|**`Net income for the reporting period (as per the Statement of Financial`**
**`Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Increase/(decrease) in creditors`
**`Net cash provided by operations`**
**`2.`**
**`ANALYSIS OF CHANGES IN NET FUNDS`**|`31.12.24`
`£`
`936,220`
`13,716`
`165,642`
`1,115,578`|`31.12.23`
`£`
`188,467`
`-`
`(150)`|
|||`188,317`|
||||
|`At 1.1.24`
`Cash flow`
`At`
`£`
`£`
**`Net cash`**
`Cash at bank and in hand`
`29,301`
`195,420`
`29,301`
`195,420`
**`Total`**
`29,301`
`195,420`|`31.12.24`
`£`
`224,721`|
|---|---|
||`224,721`|
||`224,721`|
```
The notes form part of these financial statements
```
```
Page 11
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
RepublicofIreland(FRS102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicablein the UK and Republicof Ireland'and the CompaniesAct 2006.Thefinancialstatementshavebeenprepared under
the historical cost convention.
```
```
TheCharityconstitutesapublicbenefitentityasdefinedbyFRS102andisregisteredbyTheCharityCommissionof England
andWalesunderaTrustDeed.Thecharity'sregisterednumberandregisteredofficecanbefoundonthegeneral information
page 1. The presentation currency of the financial statements is the Pound Sterling (£).
```
## **`Income`**
```
AllincomingresourcesareincludedintheStatementofFinancialActivities(SoFA)whenthecharityislegallyentitledto the
incomeafteranyperformanceconditionshavebeenmet,theamountcanbemeasuredreliably,anditisprobablethat the
income will be received.
```
```
Subscriptions and deposit interest are credited when due, voluntary income, donations and legacies when received.
```
## **`Expenditure`**
```
All expenditureis accountedfor on an accrualsbasisand has beenclassifiedunderheadingsthataggregateall costsrelated to
thecategory.Expenditureis recognisedwherethereis a legalorconstructiveobligationtomakepaymentstothirdparties,it is
probable that the settlement will be required, and the amount of the obligation can be measured reliably.
```
```
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
```
```
Grantspayabletothirdpartiesarewithinthecharitableobjectives.Whereunconditionalgrantsareoffered,thisisaccrued as
soonastherecipientisnotifiedofthegrant,asthisgivesrisetoareasonableexpectationthattherecipientwillreceive the
grants.Wheregrantsareconditionalrelatingtoperformancethenthegrantisonlyaccruedwhenanyunfulfilledconditions are
outside of the control of the charity.
```
```
It is theOragnisation'spolicyto allowoneyearfromthedateof approvalforgrantsto be claimed.If thegrantsarenot claimed
within this time limit then they are withdrawn.
```
## **`Tangible fixed assets`**
```
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
```
```
Freehold property- at varying rates on cost
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestrictedfundscompriseresourcesavailableat thetrustees'discretionandincludeincomeandexpenditurerelatedsolely to
thecharity'sownoperations.Withinthese,designatedfundsmaybeestablishedbytrusteesforspecificpurposesbut remain
legally unrestricted.
```
```
Restrictedfundsaretheresourcessubjecttodonorimposedconditionsorstipulations,legallyheldontrust,for specific
activities,timeperiods,orpurposes(includingendowmentfunds).Thesocietyhadnoendowmentfundsduringthe financial
year.
```
```
Page 12
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Fund accounting`**
```
Grantspayablearerecognisedas liabilitiesin theyearin whicha formalgrantofferis acceptedby therecipientandwhere any
conditionsattachedtothegranthavebeenmet.Expenditureischargedtounrestrictedfunds,withanyunfulfilled grant
commitmentsdisclosedin the notesto the accounts.Multi-yearor conditionallyreleasedgrantsare onlyaccruedas expenditure
once conditions are satisfied; otherwise, they are disclosed as contractual commitments.
```
## **`Management and administration expenditure`**
```
Expenditureonmanagementandadministrationofthecharityincludesallexpenditurenotdirectlyrelatedtothe charitable
activity. This includes the day to day running of the charity, audit fees and administrative costs.
```
## **`Interest receivable`**
```
Intereston moniesheldin bankdepositaccountsis includedwhenreceivableandtheamountcanbe measuredreliablyby the
charity; this is normally upon notification of the interest paid or payable by the bank.
```
## **`Debtors and creditors receivable / payable within one year`**
```
Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecordedattransaction price.
Any losses arising from impairment are recognised in expenditure.
```
## **`Going concern`**
```
ThetrusteesconsiderthattherearenomaterialuncertaintiesabouttheSociety'sabilitytocontinueasagoing concern.
Therefore,thefinancialstatementshavebeenpreparedonagoingconcernbasis.Thetrusteeshaveconsideredthelevel of
fundsheldandtheexpectedlevelofincomeandexpenditurefor12monthsfromauthorisingthesefinancialstatements. The
budgetedincomeandexpenditurearesufficientwiththelevelofreservesforthecharitytobeabletocontinueasa going
concern.
```
## **`2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY`**
```
Thepreparationofthefinancialstatementsrequiresmanagementtomakejudgements,estimatesandassumptionsthat affect
theamountsreportedforassetsandliabilitiesasatthebalancesheetdateandtheamountsreportedforrevenues and
expensesduringtheyear.However,thenatureofestimationmeansthatactualoutcomescoulddifferfromthose estimates.
Theseestimatesand assumptionsare based on historicalexperienceand otherfactorsthat are believedto be reasonable under
thecircumstances.Thefollowingjudgementsandestimateshavehadthemostsignificanteffectonamountsrecognisedin the
financial statements.
```
```
Thecarryingvalueoflandisbasedonmanagement’sestimatesoffairvalue,whicharesubjecttomarketconditions and
valuationassumptions.Depreciationonbuildingsischargedona straight-linebasisovermanagement’sestimateduseful lives.
Actualusefullivesandresidualvaluesmaydifferfromtheseestimates,andanysuchdifferencescouldresultina material
adjustment to the carrying amount and depreciation expense in future periods.
```
```
Page 13
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`3. DONATIONS AND LEGACIES`**
|`Donations`
`Grants`
`Grants received, included in the above, are as follows:`
`General grants`
**`4.`**
**`RAISING FUNDS`**
**`Raising donations and legacies`**
`Donation processing fees`
`Gifts`
`Air fares`
`Donations processing devices`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Catering`
`Community`
`Grants and donations`
`Badminton`
`Imams and gym instructors`|`Direct`
`Costs`
`£`
`16,013`
`50`
`9,402`
`1,000`
`20,160`
`46,625`|`31.12.24`
`£`
`1,038,886`
`-`
`1,038,886`
`31.12.24`
`£`
`-`
`31.12.24`
`£`
`9,361`
`2,600`
`1,268`
`1,031`
`14,260`
`Support`
`costs (see`
`note 6)`
`£`
`110`
`-`
`-`
`-`
`14,399`
`14,509`|`31.12.23`
`£`
`217,484`
`5,000`|`31.12.23`
`£`
`217,484`
`5,000`|
|---|---|---|---|---|
||||`222,484`||
||||`31.12.23`
`£`
`5,000`
`31.12.23`
`£`
`447`
`6,075`
`-`
`-`
`6,522`
`Totals`
`£`
`16,123`
`50`
`9,402`
`1,000`
`34,559`
`61,134`||
|||||`61,134`|
```
Page 14
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`6. SUPPORT COSTS`**
||`Admin and`|||||
|---|---|---|---|---|---|
||`support`|`Establishment`||`Governance`||
||`costs`|`cost`||`costs`|`Totals`|
||`£`|`£`||`£`|`£`|
|`Other resources expended`|`5,156`|`13,716`||`8,400`|`27,272`|
|`Catering`|`110`||`-`|`-`|`110`|
|`Imams and gym instructors`|`14,399`||`-`|`-`|`14,399`|
||`19,665`|`13,716`||`8,400`|`41,781`|
|**`NET INCOME/(EXPENDITURE)`**||||||
|`Net income/(expenditure) is stated after charging/(crediting):`||||||
|||||`31.12.24`|`31.12.23`|
|||||`£`|`£`|
|`Auditors' remuneration`||||`7,000`|`-`|
|`Auditors' remuneration for non audit work`||||`1,400`|`-`|
|`Depreciation - owned assets`||||`13,716`|`-`|
## **`7. NET INCOME/(EXPENDITURE)`**
## **`8. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norfortheyear ended
31 December 2023.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
```
## **`9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|`Unrestricted`
`Restricted`
`funds`
`fund`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`213,026`
`9,458`
**`EXPENDITURE ON`**
`Raising funds`
`3,682`
`2,840`
**`Charitable activities`**
`Expenditure on charitable activities`
`8,277`
`-`
`Catering`
`6,237`
`-`
`Grants and donations`
`-`
`6,618`
`Other`
`6,363`
`-`
**`Total`**
`24,559`
`9,458`
**`NET INCOME`**
`188,467`
`-`|`Total`
`funds`
`£`
`222,484`|
|---|---|
||`6,522`
`8,277`
`6,237`
`6,618`
`6,363`|
||`34,017`|
||`188,467`|
```
Page 15
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**||
|---|---|
|`Unrestricted`
`Restricted`
`funds`
`fund`
`£`
`£`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`15,534`
`-`
**`TOTAL FUNDS CARRIED FORWARD`**
`204,001`
`-`|`Total`
`funds`
`£`
`15,534`|
||`204,001`|
## **`10. UNAUDITED COMPARATIVES`**
```
Thecomparativefiguresfortheyearended31December2023includedinthesefinancialstatementsareunaudited,as the
organisation was below the audit threshold requirements.
```
## **`11. TANGIBLE FIXED ASSETS`**
|**`COST`**
`At 1 January 2024`
`Additions`
`At 31 December 2024`
**`DEPRECIATION`**
`Charge for year`
**`NET BOOK VALUE`**
`At 31 December 2024`
`At 31 December 2023`|`Freehold`
`property`
`£`
`175,000`
`920,158`|
|---|---|
||`1,095,158`|
||`13,716`|
||`1,081,442`|
||`175,000`|
```
Page 16
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Trade creditors`
`Loan`
`Accruals and deferred income`
**`13.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Loan`
**`14.`**
**`MOVEMENT IN FUNDS`**
`At 1.1.24`
`£`
**`Unrestricted funds`**
`Unrestricted fund`
`29,001`
`Property reserves`
`175,000`
`204,001`
**`TOTAL FUNDS`**
`204,001`
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`Unrestricted fund`
`Property reserves`
**`Restricted funds`**
`Restricted fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`in funds`
`£`
`944,778`
`(8,558)`
`936,220`
`936,220`
`Incoming`
`resources`
`£`
`1,032,467`
`-`
`1,032,467`
`6,419`
`1,038,886`|`31.12.24`
`£`
`542`
`90,000`
`8,400`
`98,942`
`31.12.24`
`£`
`67,000`
`Transfers`
`between`
`funds`
`£`
`(915,000)`
`915,000`
`-`
`-`
`Resources`
`expended`
`£`
`(87,689)`
`(8,558)`
`(96,247)`
`(6,419)`
`(102,666)`|`31.12.23`
`£`
`300`
`-`
`-`
`300`
`31.12.23`
`£`
`-`
`At`
`31.12.24`
`£`
`58,779`
`1,081,442`
`1,140,221`
`1,140,221`
`Movement`
`in funds`
`£`
`944,778`
`(8,558)`|
|---|---|---|---|
||||`936,220`
`-`|
||||`936,220`|
```
Page 17
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`14. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`Unrestricted fund`
`Property reserves`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above ar`
**`Unrestricted funds`**
`Unrestricted fund`
**`Restricted funds`**
`Restricted fund`
**`TOTAL FUNDS`**|`Net`
`Transfers`
`movement`
`between`
`At`
`At 1.1.23`
`in funds`
`funds`
`31.12.23`
`£`
`£`
`£`
`£`
`15,534`
`188,467`
`(175,000)`
`29,001`
`-`
`-`
`175,000`
`175,000`
`15,534`
`188,467`
`-`
`204,001`
`15,534`
`188,467`
`-`
`204,001`
`e as follows:`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`213,026`
`(24,559)`
`188,467`
`9,458`
`(9,458)`
`-`
`222,484`
`(34,017)`
`188,467`|`Net`
`Transfers`
`movement`
`between`
`At`
`At 1.1.23`
`in funds`
`funds`
`31.12.23`
`£`
`£`
`£`
`£`
`15,534`
`188,467`
`(175,000)`
`29,001`
`-`
`-`
`175,000`
`175,000`
`15,534`
`188,467`
`-`
`204,001`
`15,534`
`188,467`
`-`
`204,001`
`e as follows:`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`213,026`
`(24,559)`
`188,467`
`9,458`
`(9,458)`
`-`
`222,484`
`(34,017)`
`188,467`|
|---|---|---|
|||`188,467`|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`Unrestricted fund`
`Property reserves`
**`TOTAL FUNDS`**|`Net`
`Transfers`
`movement`
`between`
`At`
`At 1.1.23`
`in funds`
`funds`
`31.12.24`
`£`
`£`
`£`
`£`
`15,534`
`1,133,245`
`(1,090,000)`
`58,779`
`-`
`(8,558)`
`1,090,000`
`1,081,442`
`15,534`
`1,124,687`
`-`
`1,140,221`
`15,534`
`1,124,687`
`-`
`1,140,221`|
|---|---|
```
Page 18
```
```
CHEAM MUSLIM WELFARE SERVICES LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`Unrestricted fund`
`Property reserves`
**`Restricted funds`**
`Restricted fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,245,493`
`-`
`1,245,493`
`15,877`
`1,261,370`|`Resources`
`expended`
`£`
`(112,248)`
`(8,558)`
`(120,806)`
`(15,877)`
`(136,683)`|`Movement`
`in funds`
`£`
`1,133,245`
`(8,558)`|
|---|---|---|---|
||||`1,124,687`
`-`|
||||`1,124,687`|
```
The freeholdpropertyacquiredduringthe year has been capitalisedin the Statementof FinancialPositionat a cost of £920,158.
An equivalent designation has been made within unrestricted funds to create a Fixed Asset (Property Reserve).
```
```
At 31 December2024,the net book valueof the propertywas £1,081,442,with the balanceon the PropertyReserveheld at the
sameamount.Thereserverepresentstheunrestrictedfundsinvestedintangiblefixedassets,whicharenotavailable for
generalapplication,andisreviewedannuallytoensurealignmentwiththecarryingvalueoftheassetsinaccordancewith the
charity's reserves policy.
```
## **`15. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 December 2024.
```
```
Page 19
```