Charity registration number 1201327 IEngland and Wales) Company registration number 13S26193 SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees S Hussain RAmin A Masroor Charlty numbèr (England and Wales} 1201327 Company number 13526193 Registered office Soulhgale House High Street London N146BS Auditor Moore NHC Aud(t Limited East Wing Goffs Oak House Goffs Lane Goffs Oak Hertfordshire EN7 5GE
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED CONTENTS Page Trustees, report Statement of Iruslees. responsibilities Independent auditorfs report Statement of financial activities Balance sheet ststemenl of cash flows Notes lo the financial statements 10-18
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The company was incorporated on 22 July 2021 and was registered as a charity on 13 December 2022. The financial ststemenls have been prepared in accordance with the a¢¢ounting policies set out in note 1 to the financial statements and comply wth the charity's Memorandum and Artides of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191" Objectives and activities The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. During the year under review, the trustees continued lo focus on strengthening the financial position of the charity while maintaining and developing services for the benefit of worshippers and the wider community. Key achievements during the year induded the repayment of a significant proportion of the outstanding QEH loans. This has materially redd the charity's finanaal liabilities and strengthened its long-lerm sustainability. The trustees consider this an important milestone, enabling future resources lo be directed more fully towards community development, maintenance, and improvement of facilities. The charity also continued lo priorilise community cohesion and engagement. Activities during the year were aimed al fostering positive relationships between members of different backgrounds, promoting inclusion, and supporting the social and spiritual wellbeing of the local community. The mosque has continued to serve not only as a place of worship bul also as a ¢enlre for community inlera¢tion, education, and support. A¢hlevements and perfom)ance Financial review The results for the year are set out on pages 7 10 18. 11 is the policy of the charity that unreslricled funds which have not been designated for a specific use should be maintained al a level equivalent to between one and three month's expenditure. The trustees consider that reserves al this level wll ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given lo ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Structure. govemance and management The charity is a company limited by guarantee incorporated on 22 July 2021 and is govemed by its Memorandum and Article of Assoaalion as amended by a Special Resolution registered at Companies House on 3 November 2022. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial slalemenls were.. S Hussain RAmin A Masroor Method of recruitment and appointment of trustees In selecting individuals for appointment as trustees, the ttuslees are required by virtue of its governing documents lo have regard lo the skills, knowledge and experience needed for the effective management of the Charity. All trustees have signed up to the charity's Trustees Code of Conduct. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Charity's organisational structure The Charity currently has three trustees who are responsible for the effective management of ils affairs. The charity currently has no employees. Auditor The auditor, Moore NHC Audit Limited, is deemed to be reappointed under section 487121 of the Companies Act 2006. The trustees, report was approved by the Board of Trustees. S Hussain Trustee Date.. 17 Feb 2026
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the directors of Southgate Mosque And Community Centre Limited for the purpose of company law, are responsiblè for preparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingtlom Generally Accepted Accounting Practice). Company law requires the trustees lo prèpare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, induding the income and expenditure, of the charitable company for that year. In preparing these financial stslemenls, the trustees are required lo". select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP.. make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disdose wth reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are also iesponsible for s8fegu8rding the assets of the eharity and hence for tsking reasonable stèps for the prevention and detection of fraud and olhei irregularities. The Iruslees are responsible lor the Maintenan and integrity of the charity and financial Information Included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions.
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED Opinion We have audited the financial statements of Soulhgale Mosque And Community Centre Limited (the 'charity'l for the year ended 31 Dernber 2024 which Comprise the statement of financial activities, the balance sheet, the statement of Cash flows and notes to the financial ststemenls, including significant a¢¢ounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slatemenls.. give a true and fair view of the slate of thè charitable company's affairs as al 31 Dember 2024 and of its incoming SoUrceS and application of sourCes, 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 conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are ftjrther described in the Audilorts SponsIbl1rfAes for the audit of the finanoi81 statements sedion of our report. We are independent of the charity in accordance with the ethi¢al requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance ¥Mth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may casl significant doubt on Ihe charity's ability to continue as a going concern for a period of at least Melve rnonlhs from ¥Nhen the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wth respect lo going concern are described in the relevant sections of this report. other inforniation The other information comprises the information included in the annual report other than the financial $18lements and our audilorfs report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial stslemenls does not cover the other infomialion and we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth the financial statements or our knoedge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstalemenl in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there Is a material misstatement of this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on whl¢h we are requlred to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the financial slalements is inconsislenl in any material respect with the Iruslees, report., or sufficient accounting records have not been kept., or the financial slalements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit.
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED Re5ponsibilitie5 of trustees As explained more fully in the stslemenl of Iruslees. responsibilities, the trustees, who are also the directors of the charity for the purpose of Company law, are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view. and for such intemal ¢onlrol as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability ID continue as a going COnrn, disclosing, as applicable, matters related lo going concem and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charitable company or to cease operations, or have no realislie altemalive but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wth the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial stslemenls as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an auditor's report that in¢ludes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, induding fraud, are instances of non-compliance w(th laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delect material misslalements in SpeCt of irregularities, including fraud. The exlenl lo which our procedures are capable of delecling irregularities, including fraud. is detailed below. The extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. Explanation as to what extent the audit was considered capable of detecting irregularities. including fraud The objectives of our audit in respect of fraud, are., lo identify and assess the risks of material misslatemenl of the financial statements due to fraud.. to obtain sufficient appropriate aLJdit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instanS of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests wth both management and those charged with g0veMan of the company. Our approach was as follows.. We obtsined an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, Charities Act 2011, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxab'on legislation We obtained an understanding of how the company complies with these requirements by discussions with management and those charged wth govemance. We assessed the risk of material misslalement of the financial stslemenls, induding the risk of material misstalemenl due lo fraud and how il might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with governance as lo any known instances of non- compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures lo identify instances of non- compliance with laws and iegulalions. This included making enquiries of management and those Charged with govemance and obtaining additional corroborative evidence as required A further description of our rèsponsibilities is available on the Financial Reporting Council's website al". https".11 www.frc.org.ukJaudilorsresponsibilities. This derIptIOn forms part of our auditor's report.
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reportsl Regulations 2008. Our audit work has been undertaken so that we might slate lo the Charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have fomied. Franc1$ Corbishloy {Senlor Slatulory Audltorl For and on behalf of Moore NHC Audit Limited, Stalulory Auditor Chartered Accounlanls East Wng Goffs Oak House Goffs Lane Goffs Oak Hertfordshire EN7 5GE Date. . 1.9. Fok.2.Q2F..
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds fund$ 2023 2023 Total 2024 2023 Notes Income and endowments from- Donations and legacies Charitable activities Other income 173,397 1,760,638 1,934,035 31,513 31,513 8,109 8,109 153,391 22,978 5,637 3,180,941 3,334,332 22,978 5,637 Total income 213,019 1,760,638 1,973,657 182,006 3,180,941 3,362,947 Expenditure on: Raising funds Charitable activities 3,474 149,908 69,633 209,458 73,107 359,364 20,100 110,102 20,100 204,308 94,206 Totsl expendlture 153,382 279,089 432,471 94.206 130,202 224,408 Net income and movement In funds 59,637 1,481,549 1,541,186 87,800 3,050,739 3,138,539 Reconciliation of funds- Fund balances al 1 January 2024 93,314 4,453,462 4,546,776 5,514 1,402,723 1,408,237 Fund balances at 31 Do¢embor 2024 152,951 5,935,011 6.087.962 93.314 4,453,462 4,546.776 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 14 6,769,288 6,785,724 Currgnt assets Cash at bank and in hand 1,069,990 279,099 Credff(ors: amounts falling due within one year 16 11,383,316) 1650,5441 Net current liabilities 1313,3261 1371,4451 Total assets less current Ilabllltles 6,455,962 6,414,279 Creditots- amounts falling due after more than one yoar 17 1368,0001 {1,867,5031 Net assets 6,087,982 4,546,776 Income funds Restricted funds Unrestricted funds 18 5,935,011 152,951 4,453,462 93,314 6,087,962 4,546,776 The company is entitled to the exemption from the audit requirement wntsined in secb'on 477 of the Companies Act 2006, for the year ended 31 Dember 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial ststements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on .1.7.F.ob.2Q2.fj.... 55AIA S HLJssain Trustee Company règistration number 13526193
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash generated from operations 22 1,590,957 4,208,786 Invgstlng actlvltlgs Purchase of tangible fixed assets {24,5661 16,824,450) Net cash used in investing activities 124,5661 {6,824,4501 Financing activitles Repayment of borrowings 1775,5001 2,157,502 Net cash lusgd Inllgengrat9d from flnanclng activities 1775,5001 2,157,502 Net Increa$ellde¢roaso1 In ¢a$h and ¢a$h equivalgnts 790,891 1458,1621 Cash and cash equivalents at beginning of year 279,099 737,261 Cash and cash equlvalents at end of year 1,069,990 279,099
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity inforniation Soulhgale Mosque And Community Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Soulhgale House, High Street. London. N14 6BS. 1.1 Basis of preparation The financial statements have been prepared in aOrdanCe with the charity's governing document, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" l°FRS 102.1 and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffedve 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The financial statements are prepared In slerfing, which is the functional currency of the charity. Monetary amounts in these financial stslemenls are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention, modified lo indude certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern Al the lime of approving the financial stalemenls, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of aontIng in preparing the financial stslemenls. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Restricted fijnds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slalements. Silè acquisition and building funds, which were donated specifically towards the purchase, development, and improvement of the mosque premises. Refurbishment and capital improvement funds, used for the maintenance, enhancement, and upgrading of the building and facilities to ensure they remain suitable for worship and communty use. Educational funds. donated for the purpose of establishing and developing educational facilities and programmes. including the longer-term aim of developing an educational centre for public benefit and the advancement of Islamic education. Zakat funds, which are restricted by their religious nature and musl be distributed in accordan with Islamic principles lo eligible beneficiaries. Zakat is an obligatory fom of charitable giving in Islam and conslitules one of the five pillars of the Islamic faith. It is a mandatory annual contribution made by eligible Muslims, calculatèd as a proportion of accumulated wealth, and is intended lo support individuals and groups in need. Due lo f(s religious significance, zakat funds are restricted in nature and Can only be used for defined charitable purposes, such as supporting those experiencing financial hardship or other eligible beneficiaries as prescribed under Islamic principles. The charity administers zakat funds separately from general donations and ensures that they are applied stridy in accordance with these requirements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance Conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. 10-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontlnuedl Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance ¢ondf(ions require deferral of the amount. Income lax recoverable in relation to donations received Ljnder GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the charity has been notified of an impending distribution. the amount Is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. 1.6 Expendlture Expenditure is recognised once there is a legal Dr conslruclive obligation lo transfer economic benefit lo a third party, It is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributsble lo a single activity are allocated directly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation Is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases". Freehold land and buildings Fixtures and fittings 10kn on cost slraighl line 20% on cost straight line The gain or loss arising on the disposal of an asset is detemined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activits'es. 1.7 Impairment of fixed assats Al each reporting end date, the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assets have suffered an impaimenl loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order lo determine the exlenl of the impaimienl loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents indude Cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at aM0.sed cost using the effective interest method unless the arrangement constitutes a financing transadion, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as re1vable within one year are not amortised.
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontlnuedl Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constilules a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of Interest. Financial Iiabililies classified as payable thin one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as CLJrrent liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derècognised when the charity's eonlractual oblig8tions expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Iruslees are required to make iudgernenls. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The eslimales and associated assumptions are based on historical experien and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and ftjture periods where the revision affects both current and future periods. In the course of preparing the financial stalemenls, no judgments have been made in the process of applying the charity's accounting policies that have had a significant effect on the amount5 recognised in the financial statements. Restricted funds Reslricled funds are those donations made in line wth Islamic obligations for charitable giving. Income from donations and legacies Unrg$trlct9d RgStrl¢ted funds funds 2024 2024 Total Unrg$lrl¢t9d Rg$trl¢lgd funds funds 2023 2023 Totsl 2024 2023 Donations and grfts 173,397 1,760,638 1,934,035 153,391 3,180,941 3,334,332 12-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestrlcted Unrestrlcted funds funds 2024 2023 Events Charitable rentsl income 5,313 26,200 4,747 18,231 31,513 22,978 Other income Unre$trl¢ted Unrestrlcted funds funds 2024 2023 Other income 8,109 5,637 Raising funds Unrastrict8d Rastricted funds funds Total Rastrictgd funds 2024 2024 2024 2023 Fund raisin and ublici Staging fund raising events Fund raising events Advertising 69,633 69,633 4,261 15,839 3,474 3,474 Fund raising and publicity 3,474 69,633 73,107 20,100 3,474 69,633 73,107 20,100 13-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on charitable activities Total 2024 Total 2023 Direct costs Donations lo other charities Premises cost Costs relating to religious activities 171,193 16,654 67,947 6,217 67,876 3,708 45,278 7,945 Food bank 259,431 127,387 Share of support and governance costs (see note 9 Governance 99,933 76,921 359,364 204,308 Analysls by fun(1 Unrestricted funds Restricted funds 149,908 209,456 94,206 110,102 359,364 204,308 Support costs allocated to activities Heading
ac982
2024 Total 2023 Governance 99,933 76,921 10 Net movernent in funds 2024 2023 The net movement in funds is slated after chargingllcreditingl.. Fees payable for the audit of the Charity's financial statements Depreaation of owned tangible fixed assets 8.768 41,002 8,959 38,726 11 Trustees None of the trustees lor any persons connected wlh them) received any remuneration or benefits from the charity during the year. 14-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 12 Employees The average monthly number of ernployees during the year was.. 2024 Number 2023 Number Total 13 Taxatlon The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Ad 1992 to the extent that these are applied lo ils charitable objects. 14 Tangible fixed assets Freehold land Fixtures and and building5 fittings Totsl Cost At 1 January 2024 Additions 6,795,275 19,816 29,175 6,824,450 4,750 24,566 Al 31 December 2024 e,815,091 33,925 6,849,016 Depreciation and impainnent At 1 January 2024 Depreciation charged in the year 34,210 34,556 4,516 6,446 38,726 41,002 Al 31 December 2024 68,766 10,962 79,728 Carrylng amount Al 31 December 2024 6,746,325 22,963 6,769,288 At 31 December 2023 6,761,065 24,659 6,785,724 15 Loans and overdrafts 2024 2023 Other loans 1,722,003 2,497,503 Payable wthin one year Payable after one year 1,354,003 368,000 630,000 1,867,503 Included within other loans falling due more than one year is a loan of £100,00012023.' £100.0001 provided by another charity in which one of the Trustees of Southgale Mosque is also a Trustee. As at the balance sheet dale, the total loan receivable from related parties was £170,000 12023.. £170,000) These loans are unsecured, interesl-free and have fixed repayment dales. 15-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 16 Creditors: amounts falling due within one year 2024 2023 Other loans Trade creditors Other creditors Accruals and deferred income 1,354,003 8,398 11,845 9,070 630,000 11,844 8,700 1.383.316 650.544 17 Creditors: amounts falling due after more than one year 2024 2023 Borrowings 368,000 1,867,503 Induded wthin other loans falling due more than one year is a loan of £100,00012023.' £100,000) provided by another charity in which one of the Trustees of Southgale Mosque is also a Trustee. As al the balance sheet dale, the lolal loan receivable from related parties was £170,000 12023". £170,000) These loans are unsecured, interesl-free and have fixed repayment dales. 18 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 January 2024 Incoming resources Resources expended At31 December 2024 4,453,462 1,760,638 1279,0891 5,935,011 Prevlous year: At 1 January 2023 Incomlng re$ourG&$ Resources expended At31 December 2023 1,402,723 3,180,941 1130,2021 4,453,462 16-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 19 Unrestricted funds The unrestricted funds of the charity comprise of the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended At31 December 2024 General funds 93,314 213,019 1153,3821 152,951 Prnvious yoar: At 1 January 2023 Incoming resources Resources expended At31 December 2023 General funds 5,514 182.006 194.2061 93,314 20 Analysis of net assets between funds Unrestrlcted fund$ 2024 Restrlcted funds 2024 Total 2024 At 31 December 2024: Tangible assets Current assetsllliabililiesl Long term liabilities 834,277 1313,3261 1368,0001 5,935,011 6,769,288 1313.3261 1368,0001 152,951 5,935,011 6,087,962 Unrestrlcted funds 2023 Restrlcted funds 2023 Totsl 2023 At 31 December 2023- Tangible assets Current assetsllliabililiesl Long temi liabilities 24,659 68,855 6,761,065 6,785,724 1440,1001 1371,4451 11,867,503) {1,867,5031 93,314 4,453,462 4,546,776 17-
SOUTHGATE MOSQUE AND COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 21 Related party transactions During the year, b0 trustees provided loans to the charity tolalling £nil12023'. £100,000). As at the balance sheet dale, loans tolalling £170,00012023.' £170,000) were still outstanding. During the year, a charity in which one of the trustees is also a trustee, provided a loan lo Soulhgale Mosque and Community Centre Limited amounting lo £nil 12023". £100,000). As al the balance sheet dale, the loan amount was still outstanding. AI loans are interest free. 22 Cash generated from operations 2024 2023 Surplus for the year 1,541,186 3,138,539 Adjustments for- Depreaation and impairment of tangible fixed assets 41,002 38,726 Movements In worklng capltsl: {Increaselldecrease in debtors Increase in creditors 1,019,677 11,844 8,769 Cash generated from operations 1,590,957 4,208,786 23 Analysis of changes in net Idebtllfunds At l January 2024 Cash fli)ws At 31 DeGembpr 2024 Cash al bank and in hand 279,099 790,891 1,069,990 Loans falling due within one year Loans falling due after more than one year 1630,0001 11,867,503) 1724,0031 {1,354,0031 1,499,503 1368,0001 12,218,404) 1,566,391 1652,0131 18-