Char5ty reglstraljon number 1203337 SEVENOAKS MASJID CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 SEVENOAKS MASJID CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr E Ansori Mrm Uddin Mr O Hannan Mr M Hu550in Mr l Ahmed Charlty number 13)3337 Prlnclpol address 39 Croydon Road Wesletham Kent TN16 IT5 Independent examln Perys Audit Limiled 4th Floor 399401 Strond London Vniled knngdom WC2R OLT gnkw5 Natwest Bonk 89 Mounl Pleosonl Rood TuntAidge Wems Kenl TNI IQJ SEVENOAKS MASJID CENTRE CONTENTS Page Twslees. rewl Independent exominerf5 report Statement of financial aCti￿lIeS Balonce sheet Statement of c05h flows Notes to the financial stolements 7-12 SEVENOAKS MASJID CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report ond financial stalemenls for the year ended 31 D&cember 2023. The linonciol slotemenls hove been prepared in accordance with the accounting policies sel out in note I to the financial 51alemenls and comply with the Chorily's conslilution. the Charilies Act 2011 and "Accounting and Reportin9 by Chorilies., Slolomenl ol RBcommended Practice applicoble lo charities preporing their accounls in occordonce with the Finonciol Reporting Standard opplicoble in th& UK and Republic ol Ireland IFRS 1021" leffeclive l Januory 20191. Oblfrctfves and aclfvltl•s The Object ol lh& CIO is, lor the publie benef11, to advon¢e Ihelslamic lailh in Sevenoaks portlculorfy bvl nol excluslvely through providing Teligious proy8r Services gnd education. The Trustees hove paid due regord lo guldonc& issued by the Charity Comrnis5i0n ￿n deciding whol oclivill&s the Chority should undertake. The Charily's aclivili6s bonellt th& publSc. A¢hl•v•m•nts ond p•rfoTmane• During yeor ended 31 December 2023, the principol focu5 01 the chorlly wos to acquire a property lor purposes ol providing laeililies lor religious Services lo thi Muslim communily In Sevenooks. A proporly was successfully acquired. The Charity is curronlly in the proces5 01 applying for plonning permission lo Use the properly lor the purpose ol prayer lacililies. As,, ol Ihe end ol December 2023, the process is ongoing. The Chorily did not engage in any other signilicpnl activities al thi5 Stage other than continuing to fund raise where possible in preporolion lor opening ol Ihe properly lo proyers once plonning approval received. Flnanclal revl•w Income received during the yeor lolalled £336.899. £22.3*8 was spent on chorftoble acllvllios. The funds ol the charity lololled £314,531 ol 310gcember 2023. Cosh on hond and at bank stood at £10,413 al the end bl December 2023. The Iru51ee5 viewed thi5 as sullicienl given the charity is currently owoiling opprovol'lo use the property and therefore has minimal expen5e5 Other than over lime repaying the loans due. The loans are Islamic 'Qard Hassan, loans which do not have o lime limit and therefore the Chorily hos time lo repay. The Chorily will continue IG fund roise lo pay off the loons over lime. Slru¢lvre, governance and manag•m•nt The Chorily 15 o CIO Ichariloble Incorporoled Organisalionl registered in Englond ond Wales. Th& Chorily wos esloblished on 31 May 2023 and is governpd by a conslilulior*. The Tru51ees who served during the year ond up lo the dole ol signolure of the flnanciol slolemenls were.. Mr E Ansori Mr M Uddin Mr O Honnon Mr M Hussoin MflAhmed SEVENOAKS MASJID CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Apart trom the first Trusle&s. every Twslsgg must be opp(Thnled lor o lemi of thre8 years by o i&sdvtion POSS6d ol a property convened meeling ol the Trustees or in vrtiting. In selecting individuals for appointment os TnJsl8es. Ihe Twslees musl hove regoré lo the sknlls, knowledge ond experience needed lor Ihe effective adrrdni5tralion ol the C￿. a5 wel os the indiwd¢Jal's eommilmerst lo the CIO'S cavse. The TnJstee5 lom the moin monagemenl conYrAltee and are responsible for the oveiatl governance and operalion ol the Chorily. Th8 Trusl&gs WIN nwel ol teosl 3 lim@s o yeor and wdl meet mor& frequenllv oncg Ihe plonning opplicotion Ic* the Mas￿d ryoperty h05 been opyoved and the Charity can start oclively providing religiou5 services lo the Muslim C¢)mmunity. The Trusl&es also toke sUPPOrt ol a nvmb&r ol volunteers in the Muslim community lor oclivi11os svch 0$ fund roising ond roising oworeness ol Ihe Chority. The TnJstees' report wos opproved by thè Boord ol Truslèes. 1P4•A) ICd21 2024. Trus1•• *• Dot&'. 22 Ocl 2024 SEVENOAKS MASJID CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SEVENOAKS MASJID CENTRE I report lo Ihe Trustees on my examinolion of the lincncial slalemenls ol Sevenooks Mosjld Centre Ilhe Charilyl lor the year ended 310ecember 2023. R•sponSIbll￿ltsl ond bas1$ 01 r•port As the Tru51ees ol the Charity you are responsible lor the preparation ol th& linan¢ial slalemen15 in accordonce with the r&qviremenl$ ol the Chorilies Act 2011 Ilhe 2011 Acti. I r6POrt In respect ol my &xaminallon of the Charfly's financial slalemenls corrled out under seclion 145 ol th& 2011 Act. In coryin9 out my exominalion I hove followed all the applicable Directions given by the Charily Commlssion under section 14515llbl ol Iha 2011 Act. Ind•p•nd•nl exomln•T'S slulem•nt Since tho Chorily's gross income exceeded £250,000 your exominer musl be o m6mber ol o body listed in section 145 01 the 2011 Act. I confirm Ihot l am quolilied to undertoke the 8xominolion because l am o member of ICAEW. which is one ol the listed bodies. Your ollenlion is drown lo the lacl Ihol the chorily has prepared linoncial 51alemenls in accordance with Aecounling ond Roporling by Chorities preporing their occotjnls in accordonce with the Financial Reporting Standard applicable in the UK ond Republlc ol Ireland IFRS 1021 in pralerence lo the Accountin9 ond Rgporting by Chori15es.' Slolom6nt ol Recommended Practice lssu&d on l April 2QK)5 which is referred lo in the exlanl Fegvlations bul has now been wilhdrown. l und&rslond that this hog been done In order tor linanciol slalemenls lo provide o true and lair wew in accordance with Generaltry Aecèpled Accounting Proclice ellecliv& lor r&porting periods be9inning on or afler l January 2015, I have compl?led my examinallon. l Confirm Ihal no mallers have come lo my allenlion In connecllon with the examination glvlng me couse lo believe Ihal in ony mcleriol respect.. occovnling records were not k&pl in respect ol Ihe.Chorily os reqvired by section 130 01 thè 2011 Act.. or the linoncial 51alemenls do not accord with those records., or the finonciol 51olemenls do not comply with Ihe applicobl& requSr&menls concerning th8 form ond eonlenl ol accoun15 Sel out in the Charitie5 IAecounls and Reports) Regulation5 2008 olher than any requirement Ihal the accounts give a and lair VEW which is not a maller considered 05 part of on independent exominolion. I have no eoneeTns ond have eome oeross no other moll*rs in conneelion with the exominalion lo whlch ollenlion should be drawn in this report in order lo enable a proper understanding ol the financial slolemenls lo be reached. stephen Hale FCA FCCA Perys Audil Limited 4th Floor 399-4015trond Lon¢Jon WC2R OLT United Kingdom Dated.. SEVENOAKS MASJID CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR IHE YEAR ENDED 31 DECEMBER 2023 Unrejtrlcted fvnds 2023 Notes Incom• from: Donations and legoei 336.899 chorit0￿8 expenditUTe 22.368 Nel Incom• and movement In tunds 314,531 X•con¢lllaNon ol Ivnds: Fund balance5 01 l Jonuary 2￿23 Fvnd balonc•s al 31 D•c•mb•f 2023 314,531 The stotement ol financial activilies include5 al goin5 and losses recogni5ed in Ihe year. All income and expendilvre deriv& from Continuing oclivitie& SEVENOAKS MASJID CENTRE BALANCE SHEET AS AT 31 DECEMBER 2023 2023 Nole$ Flxèd 055et¥ Tangible ossets 545,218 Cvrrenl assets Cash ol bank ond in hond 10.413 Credllors: amounls falllng duè wmhln one year io 241,1(X) Net current liabilities 1230.6871 Totol ussels less current IlabMllSes 314,531 The tund$ ol Ihe Chormy Unrestricted funds 314,531 314.531 The linoncial 51olements were approved by the Trustees on ...£%.(..d...Zf44 IthAW 1989AI IOQ 2Z, Truslee ussaI￿798￿}{ts1 22. 2024. SEVENOAKS MASJID CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Not¢s Cash Ilows from operamng ac1m1￿$ Cash generoled Irom/lobsorbed byl operalions 13 555,631 Inv•sHng a¢tMN•s Purchase ol longible I￿&d assets 1545.2181 N•t coih vs•d In Invesllng ¢Jclfvll 1545,2181 Cash used In1Snanclng aclMH Incr•ai• In coih and caih •qvfval•nts 10,413 Cash ond cash equivdenls Ot bèGwnning of ye¢J Cash and cosh •qU￿OI•￿ts ¢1 •nd of y•ar 10,413 SEVENOAKS MASJID CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounllng pokles Charfty Inl¢)m)atlon Sevenoaks Masjid Centre chcvitable inc¢Jp¢yoled orgonwlK)n registered in Engkjnd and Wale5. l.l Accounlln9 convenllon The f5noncial stolemenls hove been prepared in accordance wlh the Chority's con5tilution, the ChoThties Act 2011, FRS 102 "The Financiol Reporting Stondord ¢Jpplicable the UK ond Republic ol Ireland" I'FRS 102,1 ond Ihe Chorilies SORP "Accounling and Reporting by Chorities.. Slotement ol Recommended Practice appr￿able lo charitie5 preporing Iheir occounls in accordance with the Finonciol Reporting Stondord opplicoble in the UK and Republic of Irelond IFRS 1021" leffeclive I Januory 20191. The Chorily 15 0 Pubk Benefit Entity as defined by FRS 102. The financiol stotements rye prep(Ked in slerling. thch is the lunctionol currency ol the Chorily. Monetory omovnts in these finoncKJl stotements are Tounded lo the nearest £1. The financial stotemenls h(we been Fxepored vnthr the h¢5*￿ICal cost convenlion. The principal accounting poficies adopted are sel out below. 1.2 Golng concem Al the time ol opproving the financiol stolemenls. the Trvstees have o reosonoble expeclolion Ihol the Chciity hos adequate resouTce5 to continue in operotionol existence for the loreseeoble fulure. Thus the Trustees continue lo odopt the going concem boss of occounling in preparing Ihe linoTrciol stolemenl5. 1.3 Charflable lunds Unreslricted funds ore ovakjble lor use af the d￿Cret￿n of the fnJ51ees in furtherance of their charitoble objeclNes. 1.4 Income Income i% recognised when the Ch￿lty ￿ tegolly enlilled to il after ony perft)rmance condition5 have been met. the omovnls con be ￿Sured reliabty. il is proba1￿e Ihot ¥ncon* will be rece*ved. Cash donalKJns ore recognised on recelpt. Olhef donolions ore recognised once the Charity ha5 boen notifsed of the donolion. unless perfoymance condition5 require defeircl ol the amount. Income lox recoveroble in relolion to donolions received UT¥der Gift Aid or deeds ol covenant is recogni5ed at the time ol Ihe donolion. 1.5 Expendllwe Expendilvre is recognised once there ￿ o legol u constructive ot￿l90110n lo Ironsler economic benefit lo a third party, it is proboble Ihol a Iransler ol economic benerrts wim be reqvwed in selllement. and the amovnl of the obkgotion con be measvred reliabty. Expenditvre is clossifsed by ¢xtNity. The c051s of eoch ocltmty are mode up of the totol ol direc* costs ond shored costs. including support cos15 invotvèd in vndertaking each gctivity. DiTecl costs ottritmjtoble lo o single aclivthi ore allocated dKectty to that octivily. Shared costs which contribLJle to more thon one aclivity and support cO￿S which are not atlributoble lo o single oclivily are opportioned betrween those OCtr￿lIeS on o basis COns￿lent wilh the vse ol resources. Central staff costs ore allocated on the basis ol time spent. and depreciation charges are albcoled on the portion of the asset's use. SEVENOAKS MASJID CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢counllng pollcles {ConIlnv￿) 1.6 Tanglble IExed assets Tangible frKed assels ore iniliaNy meosufed ot cost ond subsequentfy meosured ot C051 or valuolion, nel ol depreciation and any impaimienl k)sses. Depreciolion is recognised so 0$ lo wiile off the cost or valvalion of a55els les5 their resdL*al volues over thew useful live5. As the building has nol been ready lo be used lor choriloble Pufposes, not depreciation has been charged. Freehokl lond ond buiklings He￿ th c05t 1.7 Impotrment ot flxed asjets Al each reporting end dole. the Chorily revtews the carying omovn15 of its tongiÈYe os5e15 to delemine whether there 1$ ony indicotK)n Ihot those 0$5e15 hove svffered an impoirmenl1055. 11 any such indicolion e￿$15, the recoverable omount of the assel 15 estimated in order lo determine the extenl ol the impawmenl105s lif anyl. 1.8 Cash ond cosh èqufvalents Cash and cash equNalen15 inclL•de cash in hand. deposits held al coll with banks. other short-lerm liquid investments with originol malvrslies ol three months ￿ Sess. ond bonk ovwdrofls. Bank overdrolts ore shown within bled to octMlf•s ChorMable acttvmes 2023 Govemance S,040 2023 Govemance costs comprfse: Accounloncy Independent exanmnolion 2,700 2.340 S,040 Truslee5 None ol the Trustees lor ony pefsons conneded wTrlh them) received ony remvnefolion u beneffls from the ChaEÉty during Ihe yecy. Employees The average monlhty number of employees dLving Ihe yearwos: 2023 Number Total There were no employees whose onnvcl remuneratK)n was more than £60.C(Q. Taxollon The chcrrity is exempt trom laxalton on its a¢ti¥Alies because all it5 income 15 appled lor charitob pvrposes. 10- SEVENOAKS MASJID CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Tanglble flx•d ossets Fte•hold land (thd bulldlthgs Co Additions 545,218 At 31 Dacember 2023 545,218 Coryln9 tsmovnl Al 31 December2023 545,218 10 Cred￿OIs.. amounts lalllng due wtthln one year ' 2023 Olher creditors Accruolg and deletred income 236.060 5.040 241.1(x) Olher Credito￿ represent omounls due as a result ol b6n6vol&nt loons. I l Unre51rlcted Ivnds The unre51rieted Ivnd5 of the ¢hurily comprise the unexpended balance5 of donolions ond gronls which are not subject lo specific conditions by donors ond grantors as to how they may be vsed. These include designated funds which have been sel oside out of unreslricled funds by the truslees lor specific purposes. At l Jonuary 2023 Incomlng r•sources Re50uices expended A131 D¢cémb 2023 General funds 336,899 122,3681 314.531 12 Related party transactlons The Irustees donoted £322.416 in the year. SEVENOAKS MASJID CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 73 Cash g•neral•d trom opersiNons 2023 Suwus lor the year 314,531 Movements in worktng capital: Increase in creditors 241.ICQ Cush g•neraled troMl(abs￿bed by) ¢)p•allons s55.￿7 12-