**Registered Charity number: 1199426**
**LONDON COLNEY ISLAMIC CENTRE**
**Reports and Accounts For the Year Ended**
**31 March 2024**
**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 Yasine Aumerally Nasrullah Sohawon 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
1
## **LONDON COLNEY ISLAMIC CENTRE**
## **The report of the trustees for the year ended 31 March 2024**
## **Introduction**
The trustees present their annual report and accounts for the year ended **31 March 2024**
The board of trustees are satisfied with the performance of the charity during the year and the position at **31 March 2024** 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.
2
## **LONDON COLNEY ISLAMIC CENTRE**
## **The report of the trustees for the year ended 31 March 2024**
## _**Strategies for achieving the year's objectives**_ .
The charity implemented key action plans to help achieve its aims for the year:
- 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.
- Continue review of key improvements necessary to existing facilities and to undertake the necessary repairs and improvements.
- Continue to update policies on governance.
## _**The contribution of volunteers**_
The charity uses the services of volunteers in a number of ways;
- To assist in raising the profile of the charity.
- To assist with maintaining the records of the charity.
- To assist with the development of the charity.
- 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:
- Further enhancement of prayer facilities
- Further enhancement of learning facilities.
- Increasing awareness of the trust and the services it provides. - Facilitate community counselling and advice on local issues and needs.
3
## **LONDON COLNEY ISLAMIC CENTRE**
**The report of the trustees for the year ended 31 March 2024**
**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.
4
## **LONDON COLNEY ISLAMIC CENTRE**
**The report of the trustees for the year ended 31 March 2024**
## _**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 **£157,597(2023: £188,322)** and net realised incoming resources of **£15,583 (2023:- £12,332).** The total unrestricted reserves at the year-end stand at **£435,842(2023: £420,259).**
## _**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:-
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
- 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 November 2024**
**Chairman Finance Trustee Nasrullah Sohawon Mirza Shipkolye**
5
## **Independent Examiners Report on the Accounts**
Report to the trustees/members of: **LONDON COLNEY ISLAMIC CENTRE**
On accounts for the year ended: **31 March 2024**
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:
- examine the accounts under section 145 of the Charities Act 2011.
- 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
- 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] Nov 2024
6
## **LONDON COLNEY ISLAMIC CENTRE Statement of Financial Activities For the Year Ended 31-Mar-24**
|**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**
**£**
99,260
45,837
12,500|**Total**
**Funds**
**2024**
**£**
99,260
45,837
12,500|**Last Year**
**Total**
**Funds**
**2023**
**£**
116,232
59,921
12,169|
|---|---|---|---|
||**157,597**
142,014
0
**142,014**
**15,583**
**420,259**|**157,597**
142,014
0
**142,014**
**15,583**
**420,259**|**188,322**|
||||200,654
0|
||||**200,654**|
||||**-12,332**
**432,591**|
||**435,842**|**435,842**|**420,259**|
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**
7
|**LONDON COLNEY ISLAMIC CENTRE**
**Balance Sheet**
**As at**
**31-Mar-24**
**Notes**
**2024**
**£**
**The assets and liabilities of the charity:**
**Fixed Assets**
Tangible Assets
5
375,425
**_Total Fixed_**
**_Assets_**
375,425
**Current Assets**
Cash at bank and in hand
60,417
35,225
**Creditors: Amounts falling due**within 1 year
6
0
0
Net Current
Assets
60,417
Total assets less current liabilities
435,842
**Creditors: Amounts falling due**after more than 1
year
7
000
**Total Net Assets**
435,842
**The funds of the charity:**
Unrestricted income funds
9
435,842
420,259
**Total Charity**
**Funds**
435,842
**Approved by the board of trustees on**
**Nasrullah Sohawan**
**Mirza Shipkolye**
**Chairman**
**Finance**|**2023**
**£**
385,034|
|---|---|
||385,034|
||35,225|
||420,259
000|
||420,259|
|||
||420,259|
|||
The notes on pages 9 to 12 form an integral part of these accounts
8
## **LONDON COLNEY ISLAMIC CENTRE Notes to the Accounts**
**For the Year Ended 31 March 2024**
## **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.
9
## **LONDON COLNEY ISLAMIC CENTRE**
|**Notes to the Accounts**
**For the Year**
**Ended**
**31-Mar-24**
**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:**
Salary
Madrassah teachers
Employers NIC
Employers Pension
**Premises Cost**
Water Rates
Light & Heat
Council Tax
Repairs and Maintenance
Cleaning
Security Cost
Building Work|**2024**
**£**
69,260
30,000
000
99,260
45,837
45,837
0
0
12,500
0
12,500
**2024**
**£**
31,453
58,946
0
0
90,399
4,775
5,449
695
0
0
0
19,955
30,874|**2023**
**£**
28,732
80,000
7,500|
|---|---|---|
|||116,232|
|||59,921|
|||59,921|
|||0
0
12,169
0|
|||12,169|
|||**2023**
**£**
0
101,228
0
0|
|||101,228|
|||1,225
6,330
0
0
0
0
73,255|
|||80,810|
10
|**Administrative Expenses**
Building Insurance
IT Cost
Stationary
Consumables
Marketing
**Others**
Other Professional
Subsistence
Bank charges
Events
Prayer Mat
Motor Expenses
Books and School Bags
Maktab Awards
Accountancy
Van Insurance
Depreciation
Donation
Sundry Expenses
**Governance Costs**
Accountancy/ Internal Examiner
**4**
**Staff Costs and Emoluments**
Salary
Madrassah teachers
Employers NIC
Numbers of full time employees or full time equivalents
Engaged on charitable activities
Administration
There were no fees or other remuneration paid to the trustees|1,330
1,068
0
0
0
2,398
0
0
102
0
0
0
0
0
0
0
9,609
7,600
1,032
18,343
142,014
0
**2024**
**£**
31,453
58,946
0|0
796
0
0
0|
|---|---|---|
|||796|
|||0
0
25
0
360
0
350
0
0
0
9,609
7,037
439|
|||17,820|
||||
|||200,654|
|||0
**2023**
**£**
0
101,228
0|
||90,399|101,228|
||**2024**
2
0|**2023**
2
0|
11
## There were no employees with emoluments in excess of £60,000 per annum
## **LONDON COLNEY ISLAMIC CENTRE**
## **Notes to the Accounts**
## **For the Year Ended 31-Mar-24**
|||**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|95,111|291|95,404|||
||Charge for the year|9,511|97|9,609|||
||At 31 March 2024|104,622|388|105,013|||
||**Net book value**||||||
||Bal b/f|389,970|4,771|404,252|||
||At 31 March 2024|370,948|4,480|375,425|||
||All assets are used for charitable purposes||||||
||**Creditors: amounts falling due within one**||||||
|**6**|**year**||**2024**||**2023**||
||||**£**||**£**||
||Trade Creditors||0|||0|
||||0|||0|
||**Creditors: amounts falling due after one**||||||
|7|**year**||**2024**||**2023**||
||||**£**||**£**||
||Loans- Qarze Hasna||000||000||
||||000||000||
||Qarze Hasna is unsecured and interest free money loaned to the||charity by members of the public||with no fixed||
||terms||||||
12
## **LONDON COLNEY ISLAMIC CENTRE**
## **Notes to the Accounts**
|**LONDON COLNEY ISLAMIC CENTRE**
**Notes to the Accounts**|||
|---|---|---|
|**For the Year Ended**
**31-Mar-24**
**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**|**2024**
**£**
15,583
15,583|**2023**
**£**
-12,332|
|||-12,332|
|**Net Assets by Fund**
Tangible Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities|**Unrestricted**
**Funds**
**£**
375,425
60,417
000
000
435,842|**Restricted**
**Funds**
**£**
0
0
0
0
0|**Total**
**Funds**
**2024**
**£**
375,425
60,417
000
000
435,842|**Total**
**Funds**
**2023**
**£**
385,034
35,225
000
000|
|---|---|---|---|---|
|||||420,259|
## **9 Net Assets by Fund**
## **10 Related Party Transactions**
No fee or expenses were paid to trustees or persons connected with them.
13