Registered Charity number: 1199426
LONDON COLNEY ISLAMIC CENTRE
Reports and Accounts For the Year Ended
31 March 2023
LONDON COLNEY ISLAMIC CENTRE Report and accounts Contents Page Reference and Administrative Details 1 Trustees' Report & Statement of responsibilities 2-5 Independent Examiner Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes to the Annual Accounts 9-13
LONDON COLNEY ISLAMIC CENTRE Reference and Administrative Details
Charity Name London Colney Islamic Centre Charity Registration Number 1199426 Principal Office 174 High Street London Colney Hertfordshire AL2 1JY Trustees Reshad Nunhuck Mirza A A Shipkolye Nasser Jamalkhan Omar Alhayek Nasrullah Sohawon Fareed Tafajoul Mohammed Shakeel Kodabocus Mohammad Yaasir Khan Jamalkhan Bankers HSBC Bank 16-18 St Peter's Street St Albans Herts AL1 3NA Independent Examiner AYNA Accounting and Financial services Ltd 89 Langham Road London N15 3LR
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LONDON COLNEY ISLAMIC CENTRE
The report of the trustees for the year ended 31 March 2023
Introduction
The trustees present their annual report and accounts for the year ended 31 March 2023
The board of trustees are satisfied with the performance of the charity during the year and the position at 31 March 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
Principal office and constitution of the charity
The Principal Office is 174 High Street, London Colney, St Albans, Herts, AL2 1JY Charity Registration Number 1199426 Constitution Governing document the Constitution (04 May 2009).
Objectives and Activities of the Charity
Charitable Objectives .
The Charitable trust is governed by the Constitution (04 May 2009), amended on November 2012.
Aims and Objectives
The objectives of the Trust set by the constitution is to provide facility for the Muslim community within London Colney and surrounding areas to provide facilities to practice Islam and provide Islamic education in accordance with the Holy Quran and Ahadith within the bounds of Ahle-Sunna Wal Jamaat
Objectives for the year .
During this year the charity sought to: -Further improve awareness of its existence, facilities and services offered.
-To continually enhance the facilities provided.
- -To develop and enhance the educational curriculum.
Public benefit statement
The Trustees confirm that they have paid due regard to the guidance given by the charity commission on public benefit.
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LONDON COLNEY ISLAMIC CENTRE
The report of the trustees for the year ended 31 March 2023
Strategies for achieving the year's objectives .
The charity implemented key action plans to help achieve its aims for the year:
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Maintain an active campaign of advertising and continued attendance at Islamic institutions and functions by the trustees as well as staff to promote the activities of the charity.
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Continue review of key improvements necessary to existing facilities and to undertake the necessary repairs and improvements.
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Continue to update policies on governance.
The contribution of volunteers
The charity uses the services of volunteers in a number of ways;
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To assist in raising the profile of the charity.
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To assist with maintaining the records of the charity.
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To assist with the development of the charity.
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To maintain the buildings.
The charity uses 5 unpaid volunteers who spend approximately 5 hours a week providing assistance to the charity and at an average of £7.50 per hour the value of their contribution would equate to £9,750 of services.
Achievements and Performance of the Charity
-The Charity continued to provide service and facilities for the Muslim Community in London Colney.
Review of charitable activities undertaken by the charity
The main activities during the year were:
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Further enhancement of prayer facilities
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Further enhancement of learning facilities.
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Increasing awareness of the trust and the services it provides. - Facilitate community counselling and advice on local issues and needs.
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LONDON COLNEY ISLAMIC CENTRE
The report of the trustees for the year ended 31 March 2023
Structure, Governance and Management
Nature of the Governing Documents and constitution of the charity
The Charity is an unincorporated association governed by the constitution adopted on 04 May 2009 and amended on November 2012. Eligibility for membership of the charity and membership of the board of trustees is governed by the constitution. There are no restrictions in the constitution on the operation of the charity or on its investment powers, other than those imposed by general charity law.
Recruitment and appointment of new trustees
New Trustees are appointed by invitation based upon the specific requirements and the skill set needed by the charity to help advance the charitable objectives.
Induction and training of trustee
We have at the moment no policy or procedure for the training of trustees, other than the "do's and don'ts" publication provided by the charity.
Organisational structure and management
Trustees meet regularly on a monthly basis to discuss and plan objectives and implementation thereof. Matters of general concern are raised with all members. Day to day management and responsibility for implementing policies is carried out by trustees and managers appointed by trustees.
The Trustees undertake all final decisions with implementation being delegated amongst each other.
Membership of a wider network
The charity has no responsibility for nor is it answerable to any other organisation.
Related parties
Other than the Trustees and those persons connected with them there are no individuals who are related parties. Details of transactions with related parties are shown in the notes to the accounts. This includes remuneration and expenses paid to Trustee
Risk Management
The trustees acknowledge their responsibilities for establishing a risk management system and satisfied that appropriate systems and procedures are under development and continue to keep the strategic, business and operational risk under review with view to introducing, where necessary, additional procedures to mitigate these risks.
Reserves policy
The Trustees have resolved to establish over the next few years reserves to provide for future activities, and to provide funding for the expected expenditure for six months ahead. Current reserves are adequate based on our knowledge and experience.
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LONDON COLNEY ISLAMIC CENTRE
The report of the trustees for the year ended 31 March 2023
Principal funding sources and how expenditure in the year under review has supported the key objectives of the charity
The principal income was generated through donations from public who attend the Masjid accordance with the objectives of the charity. The principal expenditure related to the cost of providing facilities to the Muslim community of London Colney.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund
Financial Review
The trustees consider the financial performance by the charity during the year to have been satisfactory.
The Statement of Financial activities shows incoming resources for the year of a revenue nature of £188,322(2022: £157,449) and net realised incoming resources of - £15,332 (2022: £32,550). The total unrestricted reserves at the year-end stand at £417,259(2022: £432,591).
Statement of Trustees' Responsibilities
The Charities Acts require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:-
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are also responsible for the contents of the trustees' report and the responsibility of the independent examiner/ auditor in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements
This report was approved by the board of trustees on 30 September 2023
Chairman Finance Trustee Nasrullah Sohawon Mirza Shipkolye
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Independent Examiners Report on the Accounts
Report to the trustees/members of: LONDON COLNEY ISLAMIC CENTRE
On accounts for the year ended: 31 March 2023
Charity no: 1199426 set out on pages: 8 to 13
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act 2011.
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
ln connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act 2011 Act; and
• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met.
AYNA Accounting and Financial Services LTD
89 Langham Road London N15 3LR
30[th] Sep 2023
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LONDON COLNEY ISLAMIC CENTRE Statement of Financial Activities For the Year Ended 31-Mar-23
| Notes Income and Endowments from Donations and legacies Charitable Activities Other Income Total Incoming Resources 2 RESOURCES EXPENDED Cost of charitable activities Governance Costs Total resources expended 3 Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 116,232 59,921 12,169 |
Total Funds 2023 £ 116,232 59,921 12,169 |
Last Year Total Funds 2022 £ 95,710 50,423 11,316 |
|---|---|---|---|
| 188,322 200,654 0 200,654 -12,332 432,591 |
188,322 200,654 0 200,654 -12,332 432,591 |
157,449 | |
| 124,899 0 |
|||
| 124,899 | |||
| 32,500 400,041 |
|||
| 420,259 | 420,259 | 432,591 |
The net movement in funds referred to above is the net incoming resources as defined in the Statement of Recommended Practice for of Accounting and Reporting issued by the Charity Commission for England & Wales and is reconciled to the total funds as shown in the Balance Sheet on page 8 as required by the said statement
All activities derive from continuing operations
The notes on pages 9 to 12 form an integral part of these accounts
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| LONDON COLNEY ISLAMIC CENTRE Balance Sheet As at 31-Mar-23 Notes 2023 £ The assets and liabilities of the charity: Fixed Assets Tangible Assets 5 385,034 Total Fixed Assets 385,034 Current Assets Cash at bank and in hand 35,225 60,948 Creditors: Amounts falling duewithin 1 year 6 0 0 Net Current Assets 35,225 Total assets less current liabilities 420,259 Creditors: Amounts falling dueafter more than 1 year 7 000 Total Net Assets 420,259 The funds of the charity: Unrestricted income funds 9 420,259 432,591 Total Charity Funds 420,259 Approved by the board of trustees on Nasrullah Sohawan Mirza Shipkolye Chairman Finance |
2022 £ 394,643 |
|---|---|
| 394,643 | |
| 60,948 | |
| 455,591 -23,000 |
|
| 432,591 | |
| 432,591 | |
The notes on pages 9 to 12 form an integral part of these accounts
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LONDON COLNEY ISLAMIC CENTRE Notes to the Accounts
For the Year Ended 31 March 2023
1 Accounting policies
Statement of compliance
These accounts 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 Charities Act 2011.
Basis of preparation
The Charity meets the definition of public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The Charity opted to early adopt Bulletin 1 published on 2 February 2016 and therefore not included a cash flow statement in these accounts.
Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Transition to FRS 102
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and Charities SORP FRS 102 a restatement of comparative items was required. No restatements are required as a result of the transition to FRS 102.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Going concern
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance costs
Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Fixed assets and depreciation
All tangible fixed assets are capitalised if they can be used for more than one year and are stated at cost less depreciation. Items of less than £1000 are not capitalised.
Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value) over their estimated useful economic lives.
Land & Buildings 2% straight line
Fixtures & Fittings 25% straight line
A regular annual review of the likelihood of asset impairment is undertaken.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Funds structure policy
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Restricted funds can only be used for particular restricted purposes within the objects of the charity.
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LONDON COLNEY ISLAMIC CENTRE
| Notes to the Accounts For the Year Ended 31-Mar-23 2 Incoming Resources Voluntary Income General Donations Building Work Donations Carpet Donation Charitable Activities Children’s Tuition Other Income Library Grants Rent Gift Aid 3 Resources expended Charitable Activities: Staff Cost Employers NIC Employers Pension Premises Cost Water Rates Light & Heat Council Tax Repairs and Maintenance Cleaning Security Cost Building Work |
2023 £ 28,732 80,000 7,500 116,232 59,921 59,921 0 0 12,169 0 12,169 2023 £ 101,228 0 0 101,228 1,225 6,330 0 0 0 0 73,255 80,810 |
2022 £ 95,710 0 0 |
|---|---|---|
| 95,710 | ||
| 50,423 | ||
| 50,423 | ||
| 0 0 11,316 0 |
||
| 11,316 | ||
| 2022 £ 81,692 0 0 |
||
| 81,692 | ||
| 1,019 3,740 1,110 989 0 0 9,823 |
||
| 16,681 |
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| Administrative Expenses Building Insurance 0 IT Cost 796 Stationary 0 Consumables 0 Marketing 0 796 Others Other Professional 0 Subsistence 0 Bank charges 25 Events 0 Prayer Mat 360 Motor Expenses 0 Books and School Bags 350 Maktab Awards 0 Accountancy 0 Van Insurance 0 Depreciation 9,609 Donation 7,037 Sundry Expenses 3,439 20,820 203,654 Governance Costs Accountancy/ Internal Examiner 0 4 Staff Costs and Emoluments 2023 £ Gross Salaries 101,228 Employers NIC 0 101,228 Numbers of full time employees or full time equivalents 2023 Engaged on charitable activities 2 Administration 0 There were no fees or other remuneration paid to the trustees There were no employees with emoluments in excess of £60,000 per annum |
0 796 0 0 0 796 0 0 25 0 360 0 350 0 0 0 9,609 7,037 3,439 20,820 203,654 0 2023 £ 101,228 0 |
1,023 1,168 0 0 0 |
|---|---|---|
| 2,191 | ||
| 0 0 0 545 725 9,490 711 0 0 0 9,609 810 2,445 |
||
| 24,335 | ||
| 119,019 | ||
| 0 2022 £ 81,992 0 |
||
| 101,228 | 81,692 | |
| 2022 2 0 |
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LONDON COLNEY ISLAMIC CENTRE Notes to the Accounts
For the Year Ended 31-Mar-23
| Freehold | Fixtures & | Total | ||||
|---|---|---|---|---|---|---|
| 5 | Tangible Fixed Assets | Property | Fittings | |||
| £ | £ | £ | ||||
| Asset cost, valuation or revalued amount | ||||||
| Bal B/ fwd | 475,570 | 4,868 | 480,438 | |||
| Additions | 0 | 0 | 0 | |||
| 475,570 | 4,868 | 480,438 | ||||
| Accumulated depreciation and impairment provisions | ||||||
| Bal B/ fwd | 85,600 | 194 | 85,795 | |||
| Charge for the year | 9,511 | 97 | 9,609 | |||
| At 31 March 2023 | 95,111 | 291 | 95,404 | |||
| Net book value | ||||||
| Bal b/f | 389,970 | 4,771 | 404,252 | |||
| At 31 March 2023 | 380,459 | 4,577 | 385,034 | |||
| All assets are used for charitable purposes | ||||||
| Creditors: amounts falling due within one | ||||||
| 6 | year | 2023 | 2022 | |||
| £ | £ | |||||
| Trade Creditors | 0 | 0 | ||||
| 0 | 0 | |||||
| Creditors: amounts falling due after one | ||||||
| 7 | year | 2023 | 2022 | |||
| £ | £ | |||||
| Loans- Qarze Hasna | 000 | 23,000 | ||||
| 000 | 23,000 | |||||
| Qarze Hasna is unsecured and interest free money loaned to the | charity by members of the public | with no fixed | ||||
| terms |
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LONDON COLNEY ISLAMIC CENTRE
Notes to the Accounts
For the Year Ended 31-Mar-23
| ONDON COLNEY ISLAMIC CENTRE otes to the Accounts or the Year Ended 31-Mar-23 |
||
|---|---|---|
| 8 Analysis of the Net Movement in Funds Net movement in funds from Statement of Financial Activities Net movement in funds available for future Activities |
2023 £ -12,332 -12,332 |
2022 £ 32,550 |
| 32,550 |
| Net Assets by Fund Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities |
Unrestricted Funds £ 385,034 35,225 0 000 420,259 |
Restricted Funds £ 0 0 0 0 0 |
Total Funds 2023 £ 385,034 35,225 0 000 420,259 |
Total Funds 2022 £ 394,643 60,948 0 -23,000 |
|---|---|---|---|---|
| 432,591 |
9 Net Assets by Fund
10 Related Party Transactions
No fee or expenses were paid to trustees or persons connected with them.
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