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2024-09-30-accounts

REGISTERED COMPANY NUMBER: 12852476 (England and Wales) REGISTERED CHARITY NUMBER: 1201389

Trustees' Report and

Unaudited Financial Statements for the Year Ended 30th September 2024

for

FINE FOUNDATION

Silver Arc Chartered Certified Accountants 1 Quality Court Chancery Lane London WC2A 1HR

FINE FOUNDATION

Contents of the Financial Statements FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Page
Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 13
Detailed Statement of Financial Activities 14

FINE FOUNDATION

Reference and Administrative Details FOR THE YEAR ENDED 30TH SEPTEMBER 2024

TRUSTEES M Abdallah Trustee B K B Al-Khateeb Trustee M M Al-Qasim Trustee REGISTERED OFFICE Office Lg06, 1 Quality Court Chancery Lane London WC2A 1HR REGISTERED COMPANY 12852476 (England and Wales) NUMBER REGISTERED CHARITY 1201389 NUMBER INDEPENDENT EXAMINER Silver Arc Chartered Certified Accountants 1 Quality Court Chancery Lane London WC2A 1HR BANKER Metro Bank One Southampton Row London, WC1B 5HA

Page 1

FINE FOUNDATION

Trustees' Report FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th September 2024. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Fine Islamic Centre, a registered charity in the UK, was formed in 2021. The centre's purpose is to advance the Islamic faith through the provision of a wide range of spiritual, educational and social services enriched with Islamic values that fulfil the needs of the Muslim and the wider community. The Centre is governed by the Constitution which set out the rules and aims of the Fine Islamic Centre. The trustees, who also serve as directors for Fine Islamic Centre under company law, bear the responsibility for preparing financial statements in compliance with the Companies Act 1985 and United Kingdom Accounting Standards.

Significant activities

We continue to focus on the aims and objectives of the charity, all of the following activities are in line with the aims of the charity as outlined in the constitution.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. These activities fit within the following descriptions of charitable purposes as set out in the Charities Act, for the benefit of the public.

Volunteers

Most of the charity's activities involve volunteers in the delivery of its activities. We are, as always, grateful to these volunteers in making the activities of our centre a spiritual and pleasant experience for the public.

Page 2

FINE FOUNDATION

Trustees' Report FOR THE YEAR ENDED 30TH SEPTEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Over the past year, the masjid undertook the extension work to accommodate the growing needs of the community. The successful completion allowed us to cater a larger congregation & provide a comfortable environment for worshippers.Fine Islamic Centre has provided religious facilities for prayers, seminars and gatherings. The organization has provided after school provision for children from the local area; this includes development of their religious understanding of Islam and other religions, academic studies and sporting and leisure opportunities. The organization has also hosted several events for local schools, colleges and university students to give them an insight into Islam as part of their religious education studies. The organization has held several health and well-being workshops with registered health professionals. The organization also provides several ladies only events, which fulfils a growing local demand. The organization has also contributed to other charities who are better equipped to deal with charitable causes.

EVENTS DURING THE YEAR

Local fundraising events to engage with the community & to provide information about the charity's mission.

These events serve not only as crucial fundraising opportunities but also as occasions to build community engagement, raise awareness, and promote the charitable organization' mission throughout the year. We are grateful for the support & contributions of the community

FINANCIAL REVIEW

Funding

Fine Islamic Centre does not have a fixed amount of income. Donations from the public and cash raised from fund raising events continue to be the source of the Charity's general fund to meet on-going and future projects and activities. Sound financial management and generous support of volunteers continue to be the cornerstone of the charity.

Reserves policy

The charity has a reserve policy, which identifies a minimum level of unrestricted reserve to ensure its core activity could continue during a period of difficulty and to take account of potential risks and emergencies that may arise from time to time.

FUTURE PLANS

The charity endeavours to work on

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 3

FINE FOUNDATION

Trustees' Report FOR THE YEAR ENDED 30TH SEPTEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Organizational structure GOVERNING DOCUMENT

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

COMPLAINTS HANDLING

We have a complaints policy in place, and a complaint can be submitted to us through various channels, including in person, by telephone, via email, or using our website's contact form. All complaints will be handled in accordance with our policy

GENERAL DATA PROTECTION REGULATION (GDPR)

Fine Islamic Centre adheres to the GDPR principles of lawfulness, transparency confidentiality and accountability. We document and regularly review all data processing activities to ensure transparency and compliance with GDPR requirements.

IT & Data Storage

Fine Islamic Centre is reliant upon electronically stored data. However, the damage to our computer systems will not disrupt any of our operations. This is because copies of all our data have been made to keep the information, we have secure.

30/09/2025

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ M M Al-Qasim - Trustee

Page 4

Independent Examiner's Report to the Trustees of Fine Foundation

Independent examiner's report to the trustees of Fine Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Usman Zahoor (FCCA) The Association of Chartered Certified Accountants

Silver Arc Chartered Certified Accountants 1 Quality Court Chancery Lane London WC2A 1HR 30/09/2025 Date: .............................................

Page 5

FINE FOUNDATION

Statement of Financial Activities FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
2
Religious trips
-
Mosque & Community
65,167
Total
65,167
EXPENDITURE ON
Charitable activities
3
Ramadhan
-
Religious trips
-
Mosque & Community
84,509
Total
84,509
NET INCOME/(EXPENDITURE)
(19,342)
RECONCILIATION OF FUNDS
Total funds brought forward
26,033
TOTAL FUNDS CARRIED FORWARD
6,691		 Restricted
fund
£
104,097
-
104,097
-
103,895
-
103,895
202
-
202		 30/9/24
Total
funds
£
104,097
65,167
169,264
-
103,895
84,509
188,404
(19,140)
26,033
6,893		 30/9/23
Total
funds
£
107,755
65,121
172,876
3,420
109,208
31,039
143,667
29,209
(3,176)
26,033

The notes form part of these financial statements

Page 6

FINE FOUNDATION

Balance Sheet 30TH SEPTEMBER 2024

30/9/24 30/9/23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
CURRENT ASSETS
Cash at bank 16,687 202 16,889 44,185
CREDITORS
Amounts falling due within one year 8 (9,996) - (9,996) (18,152)
NET CURRENT ASSETS 6,691 202 6,893 26,033
TOTAL ASSETS LESS CURRENT
LIABILITIES 6,691 202 6,893 26,033
NET ASSETS 6,691 202 6,893 26,033
FUNDS 9
Unrestricted funds 6,691 26,033
Restricted funds 202 -
TOTAL FUNDS 6,893 26,033

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 30/09/2025

............................................. M M Al-Qasim - Trustee

The notes form part of these financial statements

Page 7

FINE FOUNDATION

Notes to the Financial Statements FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INCOME FROM CHARITABLE ACTIVITIES

Activity
Umrah Donations
Religious trips
Donation Lilah
Mosque & Community		 30/9/24
£
104,097
65,167
169,264		 30/9/23
£
107,755
65,121
172,876

continued...

Page 8

FINE FOUNDATION

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024

3. CHARITABLE ACTIVITIES COSTS

Religious trips
Mosque & Community
4.
SUPPORT COSTS
Mosque & Community		 Support
Direct
costs (see
Costs
note 4)
£
£
103,895
-
76,198
8,311
180,093
8,311
Governance
Finance
costs
£
£
11
8,300		 Totals
£
103,895
84,509
188,404
Totals
£
8,311

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2024 nor for the year ended 30th September 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2024 nor for the year ended 30th September 2023.

6. STAFF COSTS

Wages and salaries 30/9/24
30/9/23
£
£
10,036
2,430
10,036
2,430
The average monthly number of employees during the year was as follows:
Engaged on management and administration		 30/9/24
30/9/23
3
1

No employees received emoluments in excess of £60,000.

continued...

Page 9

FINE FOUNDATION

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities
Religious trips - 107,755 107,755
Mosque & Community 65,121 - 65,121
Total 65,121 107,755 172,876
EXPENDITURE ON
Charitable activities
Ramadhan 3,420 - 3,420
Religious trips - 109,208 109,208
Mosque & Community 31,039 - 31,039
Total 34,459 109,208 143,667
NET INCOME/(EXPENDITURE) 30,662 (1,453) 29,209
Transfers between funds (1,453) 1,453 -
Net movement in funds 29,209 - 29,209
RECONCILIATION OF FUNDS
Total funds brought forward (3,176) - (3,176)
TOTAL FUNDS CARRIED FORWARD 26,033 - 26,033
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Wages Payable 30/9/24
£
1,470		 30/9/23
£
-
Trade creditors - 14,552
Social security and other taxes 126 -
Accrued expenses 8,400 3,600
9,996 18,152

continued...

Page 10

FINE FOUNDATION

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024

9. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 follows:
At
1.10.22
£
(3,176)
-
(3,176)		 At
1.10.23
£
26,033
-
26,033
Incoming
resources
£
65,167
104,097
169,264
Net
movement
in funds
£
30,662
(1,453)
29,209		 Net
movement
At
in funds
30.9.24
£
£
(19,342)
6,691
202
202
(19,140)
6,893
Resources
Movement
expended
in funds
£
£
(84,509)
(19,342)
(103,895)
202
(188,404)
(19,140)
Transfers
between
At
funds
30.9.23
£
£
(1,453)
26,033
1,453
-
-
26,033

continued...

Page 11

FINE FOUNDATION

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
65,121
107,755
172,876		 Resources
Movement
expended
in funds
£
£
(34,459)
30,662
(109,208)
(1,453)
(143,667)
29,209

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Net
Transfers
At
movement
between
At
1.10.22
in funds
funds
30.9.24
£
£
£
£
(3,176)
11,320
(1,453)
6,691
-
(1,251)
1,453
202
(3,176)
10,069
-
6,893

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
130,288
211,852
342,140		 Resources
Movement
expended
in funds
£
£
(118,968)
11,320
(213,103)
(1,251)
(332,071)
10,069

continued...

Page 12

FINE FOUNDATION

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2024.

Page 13

FINE FOUNDATION

Detailed Statement of Financial Activities FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Detailed Statement of Financial Activities
FOR THE YEAR ENDED 30TH SEPTEMBER 2024
30/9/24 30/9/23
£ £
INCOME AND ENDOWMENTS
Charitable activities
Donation Lilah 65,167 65,121
Umrah Donations 104,097 107,755
169,264 172,876
Total incoming resources 169,264 172,876
EXPENDITURE
Charitable activities
Wages 10,036 2,430
Rates and water 4,309 -
Postage and stationery 381 602
Advertising - 360
Iftar - 3,420
Religious trips 103,895 109,208
Event Cost 3,270 5,647
Donation made 3,390 325
Rent 48,000 12,000
Cleaning - 120
Premises repairs and renewals 6,812 5,735
Caretaker Cost - 1,545
Support costs 180,093 141,392
Finance
Bank charges 11 475
Governance costs
Consultancy 6,500 -
Independent examiner's fee 1,800 1,800
8,300 1,800
Total resources expended 188,404 143,667
Net (expenditure)/income (19,140) 29,209

This page does not form part of the statutory financial statements

Page 14