¢harity reg¢slr8bon 1201327 comp￿￿ reglstratkn rNMnber13S26193 {EThU￿nd and Walesl SOUTHGATE MOSQUE AND COMMUNrfY CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustaos S Hus%ain Rknn Charity numbor 1201327 ¢omparhy numbor 13526193 Reg1s1ored office HvJh_Rtreet London N14 68S Audltor Easi Q￿ff$ Oak Htyjsa (&)fts Oak EN7 5GE SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED CONTENTS Pa98 Indep￿dent audilafs rer Slater￿ntafr￿a[Kjal admks 8818rta sheet Staternentof rashfky Notes lu the finarthlsialerTpnts SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Th8 trustees wesenl t1￿r annual atKI Ina[￿￿ I￿lheYear￿ed 31 Decewkner2Q23. Tho CL¥N￿ny was ￿cOrp¥￿￿t9d ￿ 22 Juty 2021 and r•g6tsrwd as a chaity on 13 C)9cwnb9r 2022. fiThan￿aI slatemenLS have been prepared in *ith rdkyes r￿rt in note 1 to the ￿nanual ststements and ¥vith Ihe charity's and ArtthsofAsw#Dn. ￿ CcYnparMes kl 20(b and'Arrnunb'ng and Reporting by cha￿es. Statement ol ReLYrnffl8nded Pr￿￿ Io charit￿$ prepanrvj acu)unts i 8ccordaniÉwflh Ihe Fin*¢k4 Reportilg Sta￿a￿ a￿￿ble in UK and ¢f Irdand IFRS 1021 leffedNe 1 January 2019r. object￿eS and actfivMe5 The trustees have paid due regard t¢J guKlance IS￿ed by the Charity in decidiw %Yhat xtivities thetharty should u1￿£[lake. Achievefflents pErforrnanre Flnanclal revlew 11 is the policy oflhe digrbty Un￿81n"¢i￿ have rnl te8n deS9n8￿ frxa £w¢i￿ usethuld bè mantsined at a levd equivaentto beiWe￿ i)ne aThl three I￿th'S exFend￿re. Tie trnstres C(￿der that reserwe5 31 this le¥d MNII ensure that. m the *ent of ¥ significant (trc¥> In fund￿g. ttEy VAI be *Ae ta conbnue tre chffj'swrrenr dtrwiThes ¥Yhile consideration is gwen toway5 in whth ￿rtH￿allu￿ds may be rawl. Th¢5 W of reseryes tws been mairtsinpd ihroUgh(￿l year sfwctiiro. gov8manu aNI m8na9¥￿t ehanty IS a cthrpany limittd by warontet incworalcd on T2 JJY 2021 govcmtd by its NEmora￿uM and 4fA$Sac￿tsOn as amended by a Swial Resdul*￿ ai Cottyan* Flf¥J* ￿ 3 NEVa￿1)Er 2tr22. The trustee$, who arè aso thtr drec1(￿5 fot IhE putm of conwany kny. awj Se￿dduri￿NJ Ihtr ytararKI up to thtr (Jattr of signatureoflhe stat￿￿￿ts wwF-. S Hussa RAmn A Masrour M4thod ol rnerultm•rrt and appOlnbi)￿I of tn19t4•s In select￿g I￿1￿￿Ua5f￿ apwintrnen13s the tru51ees are wirsl bi wrtue of lis wwernitvj d0￿MentS lo have regard lo ihe skils, and ey￿￿[KE neetsj for eftec*bE IT￿￿eTT￿nIOrIh& Charity. Al Iruste8s have up b th8 Ch*ity"sTiust6es Ccoje ofcthJLtt. N￿e oflhetrustees ha$ wy bwefK>al intwest th8 coiyny. Al oflhe trLtste8s are memws ofts company guarantee toconlntxrte £1 In Iheevent of a up. Sw￿ler pay￿￿1 c(YDpanyscutrentpolKyc¢)nwniDgthe paytryrt oftsje (Ywjitrys is to CBI¥ PromptPayery& Code (cop￿￿ are availab￿ from Ihe CBI. Centre 103 New Oxford Stre& L￿Kkn WC1A 10UI. ¢tyDp8ny'$ wff8nt ts)n¢wning the paynwi ottrade itrs * IO". • settle the lerrnsof pa5Thenl wrfh Sw￿lers*￿n 4reerg the terrns d eath trdnsaclic>n'. enslre that suppliers are awareofthe tertrs of paY7n￿lbY rLlUSK￿ of the tplevanl terrns in thntracts: and pay in aca]rda￿e with lhecxThpanYscontr￿tua atKI 01her￿1 oba￿al￿s. SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Charity5 organlsational structu Th8 charity wrrenly has three tNstees ¥¥￿ are re5kvwbknfor U*effecbve ￿￿age￿￿to1Its affa¥s. Thfr ch￿ty curreDIIy has ro emFAoyee5. Audltor In &COrdan￿ with th8 comp*fs art￿ts. 3 resokrtKJn wryxjsiiy thai NHC Limited be ieaprKxnled as auditorof the wll be at a Genwal M8etiTvJ. trusteps. approved by fv Boaril 0fTr￿lS8$. S HLBsaii Tiustee 5 Marth 2025 SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED STATEMENT OF TRUSTEES. RESPONSIBILMES FOR THE YEAR ENDED 31 DECEMBER 2023 Th8 trustees, wtK) are asDthe dreL*x5 of PknweAtMI for Ihepurp05e of(L￿paTry Lqw. ere resFonsible ts preparirvj the Trustees. Repm stalem￿S Fl aCcLYd￿tr witrh app&c*)le law and Unitgd Kingdom AccoLffjling Slandards (United KingknGener¥ly kncepled pr￿tiC￿l. Comp8ny Law requres the Iru51ees to prepare financwl Slaterr￿￿10re￿h fvanual yearwhth give atTue atwjfair ¥￿W of the State ofafaiTS oftt*eharity and ofthe inctmirpj rtsoLW¢BS and ofrastyJr¢e$, indudin9 the ineom *d expendiW￿, of the Chailab￿ ¢c*npanylty Inal year. In wepwng these finart￿l slator(*nls. tnkstses we iwjwred to- -sdath suitaYÈ aNlthÈn appty - d)seNe the melh(hlsand pmrarles in ￿ [￿arit￿ SQRP.. . makel￿￿r￿ents e5timatesthat are red￿nth prLxI . staia wP*thar awlSc8bk uK*￿]x￿￿r0 Sta)dath ha%* W folty•Fed. subiKI to any n￿￿81 d8partwas d￿￿)sed and explaine(I In the 5tstemenis.' and - wepare Ihp financHI $tatertEnts w Ihe {￿cE￿ bays ￿￿eSS it is h4apFwate lo presuffte Ihatlhe charity ￿11 continue in operation. truste9$ arg resFoisb19 for adewale r8oxd$ thaldi5eh)sowdh r985(J78We accuw al any the finarKJal p05rt￿n of the Gkkirty Ih¢m to ensure IW st&ements (ompty W*ith ts cornp￿￿¢S AGt 20C6. y ￿e also reswnsible for 5afeJu¥thng a5sels Oftt￿ rJHtyand he￿￿tort3￿￿ reasonable steps for Ihe prevent￿￿ gmd detsction offraud wblibes ￿der those siarKlards are futyw described in Audilolsrewn&bili￿s lorlheauditoflhe financial staleffienls sethon otixY rewt. We are i￿￿￿ent ofthe clN3rty accord3nce *ith the ethi(xl req￿rel￿ents that are relevant lo aL￿￿Or￿E fw*nc4al slatetrEn15 In Ihe Ult. irK1uJ￿gthe FRC'S Ethral St￿￿ard. and we have fufilled our othèr *th¢8J respon$*lil*S in accordance wlh IW8 requirwents. W• Ihal Ihtr audrt evidenco sv& haveobiained is SuffiC￿Trt arKI approw2te to provthle a bas￿ fv (￿rOp￿r￿. Con¢luslons relalSng to golng ¢on¢ern In aud￿ng the finanaal statements. we have that ts tru5tees' use oflhe ￿1r0(￿)nCeM basis of in Ihe pr¶iM)n of the finartial staiem8ni8 apprO￿late. Based cn ￿ Krrk we have perfcrfr￿. have nrA hlenrifieil m8teA4 r¥atiTrJ to CK conditic￿$ ltrth. diwdualy orcdlpcliv64y, Thay cast swifKaTrl doubt ￿ the ckwty's aimlty to as a gJin9 ￿)nce[n a pprw)d of tlwdveThonts frcyn when the lin3￿C￿ staterrbEnts are authorised torissue. thJr tpw*bihbes the rEsp)[￿bIll* ol trustfes with COt¥xrn ¥e d￿￿bal in Ihe t8lpvanl sectK)ns of repth. other Information The other irformal￿N ¢xxry￿￿e5 1nfarrThHt￿ indLMled anrwa rewriolher han the ￿n￿cL41 statements and our audilofs re[￿￿1 Ihereon. The trustee5 are re5Prns￿e f(Klhe other Infr¥mat￿ ￿￿ta￿ed wttNn thp annual ieport. (PiniDn Om tha finartial statements wl cthBr inform8iKJn and eo noitrxpress anyfom of a¥suram¢a wn¢lus eon Oui iesponsibdily Is t? read Ihe othtr- ￿￿. thi dorg $0. ￿SIder*￿ether ihe olh¥ Informathyl IS materially Irv￿￿13t¢nl thnlh fin￿cIal stotfrTwts or knO￿dQ¢ obt¥4ned in ts wr5e olthe audit. or othEYwise appears to be maleri811y If ¥¥e W￿lfy s￿h m)twia if￿L)l$st￿￿¢¥ rfy8rent mal¥ial tnisslatefftenls, we arfy required to determine thher]h￿g￿e5 r￿e to a maienal Mi￿statement in the ststem2nls thetnsdves. If, based o the wort we have pertorw*d. ¥4e Ctydutett*Ithe￿ is 8 m8ien81 ￿￿$Sta￿trI of thÉ infc*rnètitr), we 8re required to port that fact. We have ndhing to report ￿ th￿ ryd. attews on which we awp r￿U￿1 10 rew¥t by exc￿lon We h8v¢ ndhing to report ￿ rwect ofth8 Iclh)wYvJ ma*8rs in rekgkn th8 Charo8s lknwnts ar￿ Rep)rtEI Regulat￿￿5 2D08 18qure us to rewKt to you *. n OurWK￿. )e Infomauon yvtn In nn8n¢*i $i*emÉnts Isinr￿S￿OthtIn any Ma￿ts1 ￿$pett wbth the trust808' roport". LY suffiCEnt accwnbry recort ha¥e Th)t kept.. the f￿3ncjal statements are in agreetnerrt the rp(xKes" we h3ve not recewed 311 theInf(xMa￿ arnl audit. SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOlfS REPORT (CONTINUED) TO THE TRUSTEES OF SOUTHGATE MOSQUE AND COMMUNITY CENTRE UMITED R9$prjn￿bllllfj$ of trust¢•s A5 ex￿aIned m￿e full> ￿"he State￿￿1 of Ituslees. rEs￿[￿blit1es. thet￿￿tee5. wkK> are aso the diiectors ofthe charity for th8 purpus8 of co￿pat￿lSy1. th8 of fnanEi4 strdt8rn8nts arKI for b8ing satisfi8d that Ih8y Ive a t￿e fair YEW, and Inlptna as the trus￿ deter[TY￿ 15 r￿Ssary ID enab￿ the preparBlion of fin8nc4¥1 Sta￿9n￿ t￿1 are free fretn Try$stsie￿l. whFther due 10 fraL* ot ettor. In ptppanng ihe fnantsal ststements, the tmslees are res￿SIble for charity"s a￿lItyt0 ￿tinUe a wing crlncern. disckn￿W. as applicab￿, rnattets rdaled lo grf￿ng Us￿9 the baS￿OfaccwnI￿g U￿e5sthe Irusteesether intend to Iv4uidate Iha charrfable ccvnpany orto cease Lwatiuns. ￿ have x> reah5tK aNernatNe bul to do so Audllofs responslbll(tle5 for the aLKlliof Ihe ftnanclal stateme We have b2en appointed as audilu under 144 o'the Charthes Act 2011 and rerth n accordan￿ the Act and relevant regulalKJn5 made havry effect thereuThler. lknr objectives are lo atrtain reasonable assuran￿ a￿￿(Whelher fina￿131 5taternerts as a who* are f￿e from fflaterial misststÈmÈnt. ￿¢￿thÈrIIUÈ to fr*KJ eretror. io iss￿ * aUd￿l￿9 re(￿ ￿n￿n. Reasonable assurarte K% a hvJh le¥*1 ofassur8nc? Is noi 8 ￿arant8* Ihal an 8￿1 ¢ondLrted in a¢￿)r￿ar￿e wilh ISA8 IUKI wdl abNay$ d$tsc£ 8 material mi5Stalemenl when il exist5. Misstaieinents can fraud or are consKlered rnalerK41 rf, 1ndi¥KIL￿1y or in the aggregate. they rea5[￿ablY be expected to infiL￿￿ the e[0[￿￿1( thasions of usets tsk¢n on the ba515 Df these financ￿1 statements. IrregJlarilies. including fraud. we inst￿$ of nM-¢on¥Aw¢e Vrilh and regul4t￿$. We desw3n procedures in line with our ¢swnS￿li1￿$. oulline(J above. to detect1T￿er1al msstr*Wts in resred of Yrew￿rtheS. fr8ud. The extenl lo which owproc8dures aro Capab￿ aldbtoL*ng vragu￿1￿￿. ir￿U￿ry fr￿. bdDw. The exlenl lo wlych pr(Kedure5 are (xpatrle of detechrvJ Ilreg￿3r1l*￿. ￿￿dir￿J1raUd, is detaled bekrw. Explanatlon as to what 8xtAnt tho audlt wa4 consld•r4d c¥abl• of d8t8dng Irr•9uIarft￿s. Ineludlng fraud ot4"ective5 of our audit in respect of fraLKI. are. to Mlenty and assess Ihe risks ot rnate￿￿ Misstate￿*nI L* the financial ststements (kne lo frau¢.' lo obtain sJffi¥ent gudil e￿ce re￿rI1￿ Ihe asses￿ risks of mal¥ial m￿latement lo fraud. through designing and ifftpewbenbry approwkite rewses to Ihose assessed nsks." and to re&p( 8ppropriatdy 10 instances d traLrf or SW>Èdpd ￿tified IhÈ *Ail. H¢￿¥0[. the primary regponsibility for U)È prevw)tion detection offr8ud iests wth toth maTh￿tI￿1 aThJ those CW wih go¥wnarKe oflhe ctsmp8ny. ramroach w¥ as fol￿$.. We oblaned an undet5tanOng of thE legal regulatw Tequirernents 3ppkrab￿ ID the cunpany and cD￿￿dEred Ihal the most sgnth>nl are the Ccthpanes PJ 2W6. Chth A(* 2011. UK finanrial reporrir¥J staThlards as Iss￿￿ by Final￿81 Rep(xbro Cwrol. ￿￿j UK laxalK)n legElabr We obtained an understanding of the company ￿lIh these requirements by discu59Oll5 with m*w*nentand L*argBd Y4ikn yJvem*¢8. We assessed the risk of malenal mwtslemenl d the hn8rKial *alerng7ts. the risk of m8terial Mi$ststeM￿t due and hcw it mvjht (Kcur, by twjlding dwys5K¥￿ ￿1]h w￿￿99Pment and I￿se dprggd wlh gmrnance. W8 inquired of manayen*ffl and ihtse ¢h8ryeé govwnct as ￿ any knr*n iiaartes of norrtomrliance c wspa¢ted n(¥K(An￿l¥rKo￿1h [egUL9￿. Based on Ihis UrNlerstsr￿lng, we ttesN￿ed sp21ifK awwtiale audit to Kknlfy nstatKes of rKXFc￿p1la￿￿ WJilh L4ws and regukiton5. Ths Indul￿ mthrvj enquiries ol rnatmgemenl charged ￿ve￿anCe and obtanivj addiliunal rA)rro￿[a￿Ve pwdenTr as requwj A futherdescrpton ofow re￿￿￿1￿e$ is ava4able the Fin*Kia Resxthg C(x1￿41'S web*ie &. https."IlvJwfrc.(ry.uklauditorsresponSibd￿& Tris forwB audito¢5 ￿Pllrt. SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOlfS REPORT (CONTINUED) TO THE TRUSTEES OF SOUTHGATE MOSQUE AND COMMUNITY CENTRE UMITED U50 of our ropwt TFMS rEP(Kt is tnad8 sdely to the Ch￿ty'S b￿slees. a5 a Wy. ￿ a￿Orda(￿% wth part 4 ofthe Charities lAC￿nL$ and Réports) R￿ulat￿nS ￿08. au(It ￿ ha8 bB8n ￿￿￿tak￿n su thatv￿ mw*t stat8 to thf* charitys Iru5t88s thos8 tnattots we are requred to stale IDt￿rn inan a￿rtI¢$ rèp¢MI for at￿ puttx)se To Ihe ful￿1 exienl ￿T[nItted bv law, we ( 018tsBPI oi assurne resp￿s￿lIty lo any￿e¢l￿￿t than arwj the ¢harityS tsu$*BS as a Lvjy. forouraudilwork. for this rel￿. ￿for the opinions we have tormed_ Francis Cortmshley Isenlor Stautory Auditor) fov and on beha￿ of Aloore NHC Audlt Lknknd S Matth 3J25 Chartered Accountart5 StatLrtory ￿ditOr E8St Wir¥J Gofts O* HcMJso Goffs Lar Gcrfts O* EN7 5GE SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVMES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEM8ER 2023 To*1 Unro8tri¢tsd Ro8tri¢tod lund5 funds 2022 2022 Total 2023 2023 Notes In¢omo and endoymients from.. Donatso￿ and lega¢Es Chwilabk ￿￿vIbeS 1S3.391 22.978 5.637 3.180.911 3.334.332 22.978 5.637 3S.434 1.402,723 1.438.157 Total inroffl• 182. 3.180.941 3.362.947 35.434 1.402,723 1.438.157 ExpendturÈ on: Raisin9 furvjs charitab￿ ￿tiV[be$ 20.1 110.1W2 20.100 13.970 15.950 13.970 15.950 Total expenthture I30.2￿￿ 224.408 29.92D 29.Y20 Not inGorne and rnovement i lund$ 87.8W 3.W.739 3.138.539 5.514 1.402,723 1.408.237 Re¢onclllaUon of fvnds.. Fund balar￿ al 1 January 2023 5.514 1.402.723 1.408.237 Fur￿ blllanGes at 31 fieGernbEr 2023 93.314 4.453.462 4.546.TTfj 5514 1.402,723 1.408.237 slalerntnt Offin8￿81 a￿1￿9 kncljdes 811981￿￿)y bs88¥ r6¢(wis*J in the year. PJI IrKc*n8 exp8ThJrtur8 d6rlv8 The 51aiemenl of financkil admbes akn cunWEs the rewirunents for ￿ income and expenditure arKwnt under CompaniesAci 2006. SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED BALANCE SHEET AS A T 31 DECEMBER 2023 2023 2022 Flx•d assgls Tangib￿ a55ets 14 8.785.724 Cuvr•nt a88•ts Debtors Cash at barlt and wi ha 15 1.019.077 737261 279.WJ 279.099 1.756.93 Croditorn: amow)tstslliny wilhin on0 year 17 113.7001 Nel current iliabilitiesyassets {371.4451 1.743.238 Total assets less current Ilablllks 6.414.279 1.743.238 Cr•dltors: aM0￿￿tIllIng th• aft•r moThi than ypar 11.867.5031 1335.Th)11 N8t asseis 4.Yfj.7T6 1.408.￿7 Income funds Restricted fur￿$ unrestricted furKIs 4.453.462 93.314 1.402.723 5.514 4 546,776 1.408.r87 TTrKs C(Wn￿ny 15 ent￿Ed to ts 9XfrytK￿fron Iheawlit rwwir8rr￿cWts￿e￿ $8ctiw 477 ofts conWn￿&Ad 20C6. for e year ended 31 Dec2mber2023. altlwh ￿ aLwJt ha5 ￿ car*d out utxbw s￿￿On 144 oflhe cha￿e5 Act 2011. Thp directOLS acknovlalge their res￿5￿￿1￿ forc(mnp￿.IVj *)th requ¥eD￿nIS of the CofftpanEs Act 2006 ￿sPeL to accounbru recDrd5 atKI Ihe preparatKXb Off￿a￿al stat￿nts. Tr*se fina￿81 siaiements have li •xerd￿ *iththe wJYtsiorts to cornp8r¥es subp¢t ￿ th8 small ))mpanies regitre. Ih?financ￿I ststerr*nts wwe apryoved byll*TnJste8sty15 M¥th 2025 S HLWkl Truste8 Company r¢gi5trntion number 13525193 SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED STATEMENT OF CASH FLOVVS FOR THE YEAR ENDED 31 DECEUBER ￿23 2023 2022 Cash llowsfrom opornung aCt￿lt10S 24 4.208.786 397.260 Inv•$tlng actlvOt1•8 Pwchase ofI￿gi￿e fixed asset 16.824.49)1 Not cash used in Irbvestiny xti¥hles 16.W24.4XII Flnanclng *ifjvllles Pro¢eeos fr¢m bo￿0￿r￿&S Repaymsntofb)rrowr 340.001 t ¢¥sh g•noratsdfrom •¢tMU•s 2,157.502 340.(01 Ngt IdocrKs•lllncr•asa In cash and cash •qulval•nts 1458.1621 737.281 sh cash equivalents at l)eginrMrYJ of y 737.261 Cash and ush oqulv¥ents al 8ttd ofyew 279.099 737.261 SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A￿OUnt￿9 pol￿195 Charity inlarmBtit ulfrgale Mosque C￿nn￿￿ty Cwtre Limited 15 a priwakn c¢)rry)any linwtwl by guar8ntse ffK(wr8t8d in Engl8fKI and Vlales. The regstered offre ￿ Sothjaie Sreec Lorvkn. N14 68S. 1.1 Roporting peyiod Tho roparbry period lar￿ In thè wi(xl wa% ftom I￿￿ats of th(x)rrtsabtih on 22 Juty 2021 to 31 Dèc*mbÈr 2022. 1.2 Accountwy comientiun The finanti81 siai*rr*nis h¥•e pr¥p¥*J in 8(XCYdar￿e ￿TIh tre d￿n￿80)Vem1￿ do¢urn¥ni. CompaThes Aci 2006, FRS 102"The Finanual Repjrtiry Sland￿ apJk*in the UK RepulAc of Ire￿nd- I"FRS 102.1 and the ChaniEs SORP'kcoLrbng and Re[thr￿ by Charibes.. Staierwt of Recthmrren￿ PraCt￿e appluble its charibes prepahng Ih&r accounts in accOrda[￿E¥l￿ the FY￿nI￿al RerKKbrvJ s￿dard apWicaNe in the LJK and REpublic of Irdand IFRS 1021" leftecbve 1 knuary 20191. The (*arity is a Public Benefft Entitya5 defined by FRS 102. The finanual St3￿Ments are tryared fft stediry. vthich is the [￿￿ti￿al currerryolthe (tharity. Monetsryamounts thesefinancwl sÈlement5 ¥e lo the r￿arest £. The fina￿81 staiprrpnts have bBw prBp*BtI urtht ihE I¥$￿¢* 0)st ¢￿V￿￿On. ID c*rtain financial InS￿rnents al ￿r vdue. princW Fxi&c*s Wed are ￿trArt below. 1.3 Goiny con¢8m Al the time ofapproww Ih&finartyi81 tr**usl*shab* ¥ r88$￿ab￿ &xr*ttati￿ ihat tho cknadty h8S alequa* r¢S￿r¢e$ to contsnue In (Wat￿nal e￿$te￿ ky the l(Kesee*Jk Thus ￿ trustees 10 &IL the going con￿￿ b￿5 olacrA¥untirvJ ￿ prepanrwJ the ffiancial slaternents 1.4 Charitable fijnds Unrestrthd fuids are avaLth use at the of the Irustees ifft fiJrtheraKe 0ftherthari1a￿e obi2(*¥es. e51rthd lwds￿ Su￿e￿ 10 5pethcotwJlvyL5 by dDfu5 0[￿￿1£¥5 as lu Ih8y b8 used. lh8 wtpuses and tsses tsftrE ￿Str￿tEd funds are setCxA in the nDlesto the fmancial &atements E￿(￿n￿nI fijnds 10 spe0fco)￿rtW6 by￿rf$ ihai c4ptsi must D8 mairnaned by th8 Ch￿ty. 1.5 Ineom& Income is rec￿nISed %vhen the is legalty enti"Jed ￿ it afier any perfarman(E (%)nditi￿S have teen ￿￿1. the nounts Iw wsured relabty. it15 thal Inc¢xNe *il tErwzNed. Lash d(wats(N4s are reco£Mis￿l on recept. Omerdona￿mS we reCo￿LS2O ofi￿ Ihe cnffj Yas been nth11￿1 orthe donaton. unless perf(xma￿e CA)ndthons requre delerra of tre anM)unl. Intwie tax reC4>ve[ab￿ in relati(￿ to donations eN8d Lnder r￿ft AVJ of co¥tnarf r6 re(*wtsed 8Ith&tm&dts¢knaiv￿. Le98tyes are rects)Th8ed ￿ re￿p1 or elhe￿ rf Ihe ¢h•rity has been ￿tI[￿ of an impending dislThbubcrt, the nwnl 18 known. e￿d receipt is axpected. Ifihe emounl nd th& Wcy 1$ tr&ated Ss a conknn9enl a8set. 10- SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ACcoUntw￿ pol￿•e$ (Continued) .6 Expenditure Cxpendilure Is ￿ognISed I￿￿1here oriThstnM*Ne dAvja1￿to tra[the(￿Orn1C benefrttoa third party, rt 1$ kYObabl6 thai a Iransf*rot￿rth￿ bènaffts ba reQ￿red w) Stlty8ff￿1. amoml of oblKJabon Can b& mea9Jred rdigbly. ExpPrKIlu￿ is d¥s5ifpd byxty￿ty. (xEts ole*h **vity tn*J& ￿pOItt￿P tdal of dirp¢twsts ¥t¥J shared rosits. induding suptx)rt(X)sts involved in utKJprtakry eath thty. D￿￿ta)Sts attritxnable to a Sr¥J￿ aGtivity are 311orAted dirttvy 10 th818CtMty. Shaiee costs ¢￿tri>jie ￿ mtye than ￿ gaivrty suprot o)sts n aiiributsbk 10 8 &role *MIy *& aPWM1iwthJ bet￿ tlw ￿l￿tI&% £47 8 c¢Msisiwt wlh ￿e0f tysourc*8. Central stsff costs are akncated b￿S of ume a￿1 deweaknn charge5 are aIknca￿ on pOrt￿n ofthe asset's use. 1.7 Tanglbh fixed assets Tangibktr [￿ed a¢s81$ intsty n￿￿d al cosl aThJ >Jbsequenty mEasur8d al(￿ orvalualon, ol depredation and any Irrpairrrent losses. Dvprwiaith is i¥¢oyntsed >0 ats ￿ w￿1￿￿ (Ir Ltyl UWIT rwduai valutrs uselul Iwe5 on thefollowirs bases". Free￿￿ L4rKI ar￿ ￿Ik*"n9$ F￿tureS aThJ fitt￿g$ 1% on COSI Swhtlr 20% straohllir The or Ioss arising Ihe di5pKKal ofan a55et Edeie[[nw￿d as Ihe¢iffeTetKe sa1E p￿cEedS and th& cayryng value ofthe awt. ar￿ is in ts stateffwolfiwu* activities. 1.8 lrnpawrnerrt Off￿ assets Al tra¢h report*)g ano dai&, Ihe charityr8w8ws arTh)Lfftts OIrf￿ ￿r￿3 Ye asts￿$ to whether Is any hndication thatlhose aSS￿S have suffered ￿ imparmenl kss. If any irMScation eXJ￿. ￿ recover* arnount of the asset 15 estirnated ￿ i>rder lodetetriine the extenl iTh¥>aittrth k)s51rf anyj. 1.9 Cash cash equivalEnts Cath arQ ¢ath ewivaltnts in h8rwJ. *eall baths. Olhei slknt-term ligJkl Inv￿ments ongn81 m8iwrf￿s elltrffee ￿s$. ba*(wdrafts. Barth wdrafts are ￿rythfft borThings In current liabilthes. 1.10 Flnanclal in%tNrn•nts The chanty has ￿eCkd to aprAy pr￿￿S of seth￿ 11 Fnar#ial Instft￿ents' Section 12'0ther FinanG*l InstrurThents Issues, of FRS 102 to 41 of ts irthjwts. Financial in5￿ments are Ywis*Y in the thanr>¥ b￿r￿ the beo)mes paty ￿ tt*ec*ttractu proV￿￿7Th5 ofthe 1nslruTr￿nt Financial 35set5and habAitEsare offset. *ilh the rEt arnwrbts wesented in the ffiTha￿ slalements. when there 15 a I￿allY enforceablè rightto Set off Ihtr re¢tyJntsed *nrxJtrt8 there is inteniN)n to Éèlde bas￿ orto r881i%è e assEI and 5eiiie Ihe Iiablily ￿r￿ul￿￿O￿l￿ly. Inanc￿l •55ets BasKfinan¢￿l a$s8ts. irKludg debt￿$ cash ban* babnw. inth8lly Measur￿ 81 IT￿￿¢t￿)n price induding trans3d￿ costs and are ￿#￿ent￿￿￿e￿ at aThKrt5ed L￿1 UTArvJ tre eff￿l￿e nlerest methoJ unless ihÈ arraryemeni£onsiituteya finanon9 11*S*th, WtwÈ trt traw(#KMI ts n*8sured ai [￿sent valL* oftr fvJiure receipts (*S￿nIed at a market 1810 of ini¥￿. FIr￿r￿1a1 assets cossthed a$¥￿Vab￿ wthin yaar are not arno￿Se￿. SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ACcoUntw￿ pol￿•e$ (Continued) Basifinancial liabilities. hycl￿lIrVy Credit￿ barth k)ans are irMtiatyrwTh5ed at￿Saction W￿ unless the arranyèmtrni ¢￿s￿lUtes a finar*iryJ the dd)l inssumwl ts measured al th6 pres￿1 vau* of the future payThEntsdiscotsnted ata marka rafr of inleresL Financia IK*iniÈs dasAfied as payable wrttrin ore ye¥ are not afflorbsed. Trade cr8011c￿ 8re o￿l981￿)n$ 1¢ pay fwgcthsorsefvKXS dk41 have twi a¢qwr8¢ ￿ the tydinary course of operaions Irorn supplers. Arnounts Pw/ab￿ are ck5silied as cwrent1thsl￿S rt payment 15 due wrthin one year or less. If not. thÈy arp pie$enled as non4￿[rent kablrtEs. Trae c'etitots are [￿n￿l Initial￿ ai ptice and SubseqUen￿Y rneasured at a[nOrbs￿ m ￿AnY tseffthe rterest rr￿. Financial liabilthes are deretwised th3nty"s (X)r*r￿￿1 ￿￿3t￿￿s expKeiJrare distharged I￿￿￿l￿d. Cr116¢al a¢¢ounOrwJ È$tim*s ludphents In the applIcats￿ oflhe Charity's pcloes. the trustees a￿ r￿OIred lo make judgerwts. esbmgtes a)d assumplx)ns a￿Ut1he carryiry a[￿u￿OfaSSets ￿ kablilies tlkit are not reathly appaenl from ￿her S￿rCeS. estynates and assoc￿ted a&sLYnpt￿n5We based on hi8tDrTrcd experie￿￿ atherlactot5 t￿t Bre conS￿ere￿ to be relevant. Athal resuhs tnay drfler fromthese estsrnate5. The thwles ￿r￿e￿Ing assumptons we reyew￿d ty7 8n Or￿￿ W$. ReviS1r￿s to acuwnting estrimates are rec(vJnis¢d in the perK)d in whch Ihe esbfftale 6 re￿9￿￿ revts￿ aff￿￿5 Mly Ihal p¥io(I, or in the penod or Ihe re4isK)n Tutwe per￿￿5 *tsre the rpviy￿ *cts fvture In ts ¢OUTse ￿pr￿pan￿ the finarti￿ statemett rV)1￿*M￿nts h*fft t*en m•JB w) Ihe pro¢es$ of appl5ryry the ar¢rfs ac￿n￿n9 poli￿ thar have W a ggnrfwteffedtsi the arfwxmts rec¢wsed in ￿ fin￿¢￿1 ￿ateMentS. Res1￿cle￿ lund5 RestrLled thnatims made ki linewith Islaric r*Awytior6 fcw thaiilable gi￿ng com• from doh&ion8 aNJ legxi•8 Tolal Unrestricted Re8tri¢led funds funds 2022 2022 Total fund5 2023 2023 DOnat￿￿￿r*I ghls 153.391 3.180.941 3.334.332 35.434 1.402,723 1.438.157 12- SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 knGom¢ from ¢tsr#aW¢ a￿VIO*S Tolol 2023 Events C1k*n￿b￿ rwiid iiiwtr 4.747 18.231 22.978 Anatysls by lund unr￿trthd 22,978 O¢her In¢ Un￿StrIc￿d Unre¥tri¢tpd fL4nd5 frJnd5 2023 Olherinec¥ 5.637 Ra151rng funds Rastrkiod Unrèstri¢t•d funds 2023 Fund raisin Siaging lund raising e¥ents Fund raisin9 evWts 4.261 15.839 195 13.175 Furxl raising publ(llty 20.It 13.970 20,IfX) 13.970 13- SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expfrrndttyre on tharll*¢a¢fjvlOos Total 2023 DlreGt cost$ Don81￿r* to Othertr￿ribes 67.947 6217 Costs rdalng lore1￿￿5 activities 45.278 7.945 Fcy)d bank 127.387 7,172 ShaTe of 5UPPOrt arKI governance costs Isee note 91 76.W21 8.778 204.308 15.950 Anatysls by fund unffjslr￿d estrthd ILWQS 94 IID.10Z 15.950 15. SuppLVt Costs 81kn¢ai8d to xovltlès 2023 2022 76.921 8.778 Anatys•d b¢twvD.' charitab￿ activibes 76.921 8.778 10 N•t mov•m•nt kn fund5 2023 2022 Th? n81 ry￿¥eM￿l ID $18ied after thar9irWlueOtyryI'. Faes payable for lh88￿1 dlh8thar51Ys fmarK*al s￿￿entS DepreciabDn Df (T￿ll￿d tangilE a588ts 8.959 38,726 11 Tru$ts88 None of the trwle8s any pwsws r¥w18(I ￿th Ihemi r8cewed rwMn8r81ion ￿ Wgfits fr(¥n the charity during the year. 14- SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 En¥Jbyo¢$ Thc rnontNy wmber of duriry the year wos: 2023 N￿nts•r Num￿1 T￿al Theie wei? rw) 8mrAoyseswf¥)se aMLo1 r￿u0￿1)Th￿as Ihan £60.1NY). 13 Taxatlon The chanty Is exetrv trxon irKx>ne gainsfaling %Yrthin Sec￿ of theTaxes Act 1988 orsectx)n 252 of ihÈ TaX*￿n of ChargÈablÈ Gans Aci 1932tothtrÈxient Ihaiiiw *e Èppl"ed 10 its th*18bleobJÈ¢is. 14 Tanglbla as80ts FrnAhc4d and fithnys T47Lryl Cost AdditbJn5 6.795.275 29,175 6.824.450 At 31 0￿err￿￿2(y23 6.795.275 29,115 6.824.450 D•prKlation and irnpalrrnent Depreciatan charged in the year 34.210 4,516 38.726 At 31 D&*Tr*)er2(Y23 34.210 4,516 38.726 CarTr4n9 am( At 31 Dece￿￿er2￿r￿3 6.761.[￿5 24,659 6.785.724 15 Det>tors 2023 2022 Arnounts falllng du¢ wlthln or* yw. OtherdÈ4)tors 1.019.677 otherdebtr*5 ir¢￿e a deLDsit crf £1.tXYJ.(W pak1 Ihe to a freehohj prorerty wh￿h was awured In thesubseqwfft year. 15- SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Loans ond ov*rthafts 20rJ Z022 OthBrknans 2.497.503 340.(M11 PaYa￿e within (rf￿ year Paysbla aftei on¥ ￿¥r 1.867.503 335.011 Included with orher k)ans faling duE QnE year arE bjan i(Mal￿n9 £l(YJ.(W p[Dy￿ed by uf Suulhgae Moswe is also 8 TrLwee. The bal>)¢e was still oJlWdiry as at ￿ b8L8rtt sfEd dale. These I(￿n$ are Unsecur￿1. Inte￿sl-free and have fvAed repayTnenldates. 17 Crodilixs.. amounts fallingth*i¥ithth one yoar 2023 2022 Other knans OthercreditLKs Acwals and defwred Irw 630.OCK) 11.844 8.TCI) 6￿j.$44 13.700 10 Creditors.. amounts fallin9th*aftermore than one ye 2023 2022 Borrowin95 1.867.503 335.LK>1 Included ￿ryth olher knan5 falling due than year ts a k)an ol £1￿).1￿￿> I￿22. £70,CX)01 wuvided by anolher charity in which one of the Trustees of icthgale MosGue 6 •tso a Asat IFE b8iqntr $heel dale. ltrt toial lean re￿1vable from related paitses was [170.1￿ 12.)22.. £70.OWl . These loans are U1￿[ed. Inlerest-free and have fixed repayrnenl dates. 19 Restrktedlunds The re51riCted fundsoflhe ticn ef tYot*rty. aNJ éwimnt 5.706.800 23 Related pawty ttansxtiuns Durin9 the yèar. two IlU$leès pTh￿ed k>afts lo Ire d)arity totalliThJ 10 £1￿.000 12022." t70,￿01. As at th& balart sheeid818,108ns lol￿1￿9 £170.IKKI12J22." £70,(NJOl ww8 sw tyJtstsnOng. Dufjng the year. a chanty m which of the trustees 6 Jso a trustse. tYo¥vJ8d a k)an to Soutwate Mosque WKI Communty Centre J￿￿[rtng b cl￿.{￿￿2022.. t50.(￿}. As at Ihe sheet Ihe bon ¥rTh)untYarys still oUtSta￿lng. All loans ￿e inlerest frpe. During the ye*, Iwo Itu5￿$ made dffiati(M5 th*ty antyJntir¥J to £1,3CQ. Cash generated from operati￿% 2023 2022 Surrlus Ic*lh8 year 3.138.539 1,408.Z37 AdiJgI￿nts for.. Deprewban iwirwt of tOTh3tAe fixed assets 38.726 m0￿mentS in VA>tkJng cawbl". Decreasellincws81 F) debtors Increase In credrtors 1.019.6T7 11,844 11.019.677) ¢ash g¢nerat¢d from opwatir 4.208.786 397,260 18- SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS IcopillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 25 Analys1$ of ¢hangos In no¢ dobt 2•23 Cashal bank and in harKI 737.261 1458.1621 279.(￿9 Loans falhng ¢*Je within ong year Loans faI￿ry L*)e anerrywe than >ear 15.LVJI 1335.LXJ11 I625.(￿) 11,532.X121 I63D,￿OI 11,867.S)31 397.260 12,615.6641 12,218.4041 19- This document was delivered using electronic communications and authenticated in accordance with ihe registrar's mles relating to electronic fomi, authenticatior and manner of delivery under sectioi) 1072 of the Companies Act ?006.