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2021-09-30-accounts

Charity registration number: 265673

Muhammadi Trust of GB & NI

Annual Report and Financial Statements for the Year Ended 30 September 2021

Muhammadi Trust of GB & NI

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9
Notes to the Financial Statements 10 to 25

Muhammadi Trust of GB & NI

Reference and Administrative Details

Trustees Ms K Z Fazil Mr S Z H Naqvi Mrs S K Rahman Mr M A Ramji Principal Office 131 Walm Lane London NW2 3AU Charity Registration Number 265673 Auditor DSK Partners LLP Chartered Accountants & Statutory Auditors DS House 306 High Street Croydon CR0 1NG

Page 1

Muhammadi Trust of GB & NI

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 30 September 2021.

Objectives and activities

Objects and aims

Use of Trust premises known as The Muhammadi Trust Centre

Muhammadi Trust centre is used to facilitate programmes and serve the needs of the community and Trusts' objectives. The Trust has successfully managed to rent out parts of the building to Aim Foundation after Zahra Trust and Safeer TV vacated the place. This enabled the Trust to ensure that there is someone at the centre at all times and it enhanced the building further. This also assisted in partially covering the day-to-day running expenses of the centre. Aim Foundation also hire the main hall downstairs during the month of Muharram for their Majalis. Its been very difficult to get sponsors for the boiler during Covid-19 and its been repaired, but the trust will now have to support the expenses

Page 2

Muhammadi Trust of GB & NI

Trustees' Report

Objectives, strategies and activities

Waadi Al Salaam (Cemetery)

The Trust has been offering burial service associated with the cemetery owned by the Trust. An internal subcommittee of Trustees and volunteers manage Waadi Al Salaam. The work at Waadi has progressed well and completed in 2018. Once to satisfaction, the trust might construct to prove for more graves. Waadi committee must get active in marketing the project and in turn selling of the graves.More recent work has been done at the Waadi but further graves need to be made available therefore new quotes need to be obtained.

The Centre at Walm Lane:

The roof at Walm lane needs changing and repair at some places. Pointing is also required on the wall to assist water leak. The job is of decent size and currently the trust is looking for suitable architects and contractors to take on this project. Two or three quotes will be obtained from reputable companies to make sure that best quotes are available and works are done to satisfaction. Perhaps it will be a good idea to employ a project manager to ensure works are done professionally as none of the trustees have experience in this filed.

Religious Gatherings, Seminars & Lectures

Due to Covid-19, the Muharram Programme was televised on the Ahlaybait tv in September 2020. The speaker and Noha reciter from India and Pakistan participated well. The programme was taken well by the audience and we received compliments.

The Trust is particularly proud to report the continuation of its annual commemorative programme even during these difficult times held mainly in Urdu during the first 10 days of the Islamic month of Muharram. Being on television during Covid-19 meant a larger audience including Europe. The trust could not do regular weekly gathering of prayers and supplications are held at the Centre on Thursdays for the spiritual needs of the community. This programme was missed a lot and the trust intends to start as soon as its safe to do so following the government guidance. Through active involvement of Mrs. Rahman, the Chairperson, the Trust is member of Christian Muslim Forum and various national interfaith organizations. On behalf of the Trust she is also an elected Vice Chair of MINAB (Mosques and Imam's National advisory Board), which was set up to raise the standards, and to actively encourage young people and women involvement in the mosques and religious centres to meet the challenges of our time. All the programmes have been effected due to COVID -19 but the Trustees are hopeful that in future these programmes will promote and create a balanced, peaceful and harmonious society.

Publications

The Trust has setup a publication subcommittee to look at the future publication requirements and has appointed a part time staff. The Trust continues to market its publications, for which worldwide orders are received through its website and some of the publications are well received by the universities offering courses in philosophy and religious studies. Some other religious institutes have also ordered books and the trustees are hoping to get more publications organised in the future. `Lot of work has been delayed during Covid-19 but hopefully it will resumed soon.It is through publications and seminars that Muhammadi Trust is also known and well respected and has built strong connections with national and international academics.

Page 3

Muhammadi Trust of GB & NI

Trustees' Report

Public benefit

The Trust continues to facilitate lectures and seminars to create an awareness of, and also encourage, the ethos of peace, justice and equality for the society we live in. Only a few of these gathering could happen before Covid-19 but we will continue to do so in the near future.

It is hoped that through such endeavour, the publications of the Trust shall be suitably promoted, hence ensuring that the costs expended in their production is partly or fully recovered.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Plans for future periods

Aims and key objectives for future periods

In line with its aims and objectives, the future plans of the Trust include, but are not restricted to:

  1. Further equip the main hall for recording and digital projection facilities and continue the general maintenance work at the Centre at Walm Lane, London, NW2 3AU.

  2. To complete the works at Waadi with a view to increase reservations of the graves, followed by further works once enough revenue is generated.

  3. Continue regular seminars and conferences, which take an intellectual approach to the theological,spiritual and social issues affecting our community in general and young people in particular.

  4. We hope to provide a forum for the Youth where they can gain knowledge on issues that affect them.Such seminars shall be geared towards enhancing both the spiritual and academic faculties.

  5. Through the medium of interfaith dialogues, the Trust wishes to encourage a greater understanding between different communities. We hope such forums shall provide an arena for co-operation and unity based on knowledge and understanding.

Financial review

The income and net outgoing of resources have been reflected in the audited accounts of this year. During the year the trust has seen a net incoming of resources of £287,331 (2020 - £16,495)

Page 4

Muhammadi Trust of GB & NI

Trustees' Report

Structure, governance and management

Nature of governing document

The Trust is governed by virtue of the Trust's previous and present governance document, which was updated on 20th March 2006. All meetings have a written Agenda for discussion and review of the Trust's activities and finances for an efficient management and progression of its objectives. The proceeding of these meetings are recorded, approved and filed in the Trust's office. However, during Covid-19 the management work has been carried out by e-mails and will hopefully return to face -toface meetings once we can.

Ms. K Z Fazil has managed the overall finance of the Trust together with all the Trustees through e-mails communications. Everyone has a generic responsibility for all matters related to the Trust. The board of Trustees consists of specialists in Education, Business and Property Management. Hence, in relation to training, most of them are trained by their professional experience. The Trust has had one part time staff responsible for publication, seminars and marketing and another part time staff for dayto- day activities at the trust including Hall Hire employed and upkeep of the Centre.

Page 5

Muhammadi Trust of GB & NI

Trustees' Report

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The annual report was approved by the trustees of the charity on 27 July 2022 and signed on its behalf by:

......................................... Ms K Z Fazil Trustee

Page 6

Muhammadi Trust of GB & NI

Independent Examiner's Report to the trustees of Muhammadi Trust of GB & NI

I report on the accounts of the charity for the year ended 30 September 2021 which are set out on pages 8 to 25.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of DSK Partners LLP. It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

...................................... Mr Dhirajlal Shah Chartered Accountants & Statutory Auditors DSK Partners LLP

DS House 306 High Street Croydon CR0 1NG

28 July 2022

Page 7

Muhammadi Trust of GB & NI

Statement of Financial Activities for the Year Ended 30 September 2021

Note
Income and Endowments from:
Donations and legacies
Investment income
4
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20
Note
Income and Endowments from:
Donations and legacies
Investment income
4
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
308,056
40,341
29,451
377,848
(23,755)
(66,761)
(90,516)
287,332
287,332
1,769,405
2,056,737
Unrestricted
funds
£
12,547
44,497
58,904
115,948
(34,003)
(65,450)
(99,453)
16,495
16,495
1,752,910
1,769,405		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
11,847
11,847
Restricted
funds
£
-
-
-
-
-
-
-
-
-
11,847
11,847		 Total
2021
£
308,056
40,341
29,451
377,848
(23,755)
(66,761)
(90,516)
287,332
287,332
1,781,252
2,068,584
Total
2020
£
12,547
44,497
58,904
115,948
(34,003)
(65,450)
(99,453)
16,495
16,495
1,764,757
1,781,252

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 20.

The notes on pages 10 to 25 form an integral part of these financial statements. Page 8

Muhammadi Trust of GB & NI

(Registration number: 265673) Statement of Financial Position as at 30 September 2021

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
17
Creditors: Amounts falling due within one year
18
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
19
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
20		 2021
£
1,140,615
554,578
1,695,193
164,640
6,226
397,286
568,152
(59,925)
508,227
2,203,420
(134,836)
2,068,584
11,847
2,056,737
2,068,584		 2020
£
1,159,035
553,188
1,712,223
178,080
6,112
90,855
275,047
(58,946)
216,101
1,928,324
(147,072)
1,781,252
11,847
1,769,405
1,781,252

The financial statements on pages 8 to 25 were approved by the trustees, and authorised for issue on 27 July 2022 and signed on their behalf by:

.........................................

Ms K Z Fazil Trustee

The notes on pages 10 to 25 form an integral part of these financial statements. Page 9

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Muhammadi Trust of GB & NI meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Page 10

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Page 11

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 12

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 13

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 14

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals		 Unrestricted
funds
General
£
308,056
308,056		 Total
2021
£
308,056
308,056		 Total
2020
£
12,547
12,547

3 Income from charitable activities

Waadi income
Book Sales
Hall Bookings
4
Investment income
Other investment income
Income from rents		 Unrestricted
funds
General
£
14,000
245
15,206
29,451
Unrestricted
funds
General
£
1,317
39,024		 Total
2021
£
14,000
245
15,206
29,451
Total
2021
£
1,317
39,024		 Total
2020
£
46,500
500
11,904
58,904
Total
2020
£
1,572
42,925

Page 15

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

5 Expenditure on raising funds

a) Costs of generating donations and legacies

Note
Other direct costs of generating voluntary
income
6
Expenditure on charitable activities
Waadi Expenses
Mujalis Expenses		 Unrestricted
funds
General
£
10,315
Unrestricted
funds
General
£
1,225
9,090
10,315		 Total
2021
£
10,315
Total
2021
£
1,225
9,090
10,315		 Total
2020
£
20,563
Total
2020
£
10,025
10,538
20,563

Page 16

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

7 Analysis of governance and support costs

Governance costs

Staff costs
Wages and salaries
Social security costs
Audit fees
Other fees paid to auditors
Legal fees
Depreciation, amortisation and other similar costs
Other governance costs		 Unrestricted
funds
General
£
17,052
143
1,462
-
18,420
29,684
66,761		 Total
2021
£
17,052
143
1,462
-
18,420
29,684
66,761		 Total
2020
£
16,910
139
3,629
485
18,880
25,407
65,450

8 Net incoming/outgoing resources

Net incoming resources for the year include:

Depreciation of fixed assets 2021
£
18,420		 2020
£
18,880

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 17

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

10 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs		 2021
£
17,052
143
17,195		 2020
£
16,910
139
17,049

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2021
No
Administrative staff
2
No employee received emoluments of more than £60,000 during the year
11 Auditors' remuneration
2021
£
Other fees to auditors
All other non-audit services
1,462		 2020
No
2
2020
£
3,629

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 18

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

13 Tangible fixed assets

13 Tangible fixed assets
Cost
At 1 October 2020
At 30 September 2021
Depreciation
At 1 October 2020
Charge for the year
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020		 Land and
buildings
£
1,466,950
1,466,950
311,486
17,885
329,371
1,137,579
1,155,464		 Furniture and
equipment
£
59,808
59,808
56,237
535
56,772
3,036
3,571		 Total
£
1,526,758
1,526,758
367,723
18,420
386,143
1,140,615
1,159,035

Page 19

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Included within the net book value of land and buildings above is £1,137,579 (2020 - £1,155,464) in respect of freehold land and buildings and £Nil (2020 - £Nil) in respect of leaseholds.

14 Fixed asset investments

14 Fixed asset investments
Investment properties
Other investments		 2021
£
468,250
86,328
554,578		 2020
£
468,250
84,938
553,188

Page 20

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

Investment properties
Cost or Valuation
At 1 October 2020
Provision
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020
Other investments
Cost or Valuation
At 1 October 2020
Revaluation
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020
15 Stock
Stocks		 Unlisted
investments
£
84,938
1,390		 Investment
properties
£
468,250
-
468,250
468,250
Total
£
84,938
1,390
86,328
86,328
84,938
2020
£
178,080
86,328
86,328
84,938
2021
£
164,640

Page 21

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

16 Debtors

16 Debtors
Other debtors
17 Cash and cash equivalents
Cash on hand
Cash at bank		 2021
£
6,226
2021
£
374
396,912
397,286		 2020
£
6,112
2020
£
441
90,414
90,855

Page 22

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

18 Creditors: amounts falling due within one year

18 Creditors: amounts falling due within one year
Bank loans
Trade creditors
Other taxation and social security
Other creditors
Deferred income		 2021
£
14,527
4,750
866
7,782
32,000
59,925		 2020
£
15,105
4,750
610
6,481
32,000
58,946

Creditors due within one year includes the following liabilities, on which security has been given by the charity:

Bank loans
19 Creditors: amounts falling due after one year
Bank loans		 2021
£
14,527
2021
£
134,836		 2020
£
15,105
2020
£
147,072

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the charity:

security has been given by the charity:
2021 2020
£ £
Bank loans 134,836 147,072

Page 23

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

20 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted
General
Restricted
Total funds		 Balance at 1
October 2020
£
1,769,405
11,847
1,781,252
Balance at 1
October 2019
£
(1,752,910)
(11,847)
(1,764,757)		 Incoming
resources
£
377,848
-
377,848
Incoming
resources
£
(115,948)
-
(115,948)		 Resources
expended
£
(90,516)
-
(90,516)
Resources
expended
£
99,453
-
99,453		 Balance at 30
September
2021
£
2,056,737
11,847
2,068,584
Balance at 30
September
2020
£
(1,769,405)
(11,847)
(1,781,252)

Page 24

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2021

21 Analysis of net assets between funds

21 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
22 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 Unrestricted
funds
General
£
1,140,615
554,578
568,152
(59,925)
(134,836)
2,068,584
Unrestricted
funds
General
£
1,159,035
553,188
275,047
(58,946)
(147,072)
1,781,252
At 1 October
2020
£
90,855
90,855
At 1 October
2019
£
57,149
57,149		 Total funds
at 30
September
2021
£
1,140,615
554,578
568,152
(59,925)
(134,836)
2,068,584
Total funds
at 30
September
2020
£
1,159,035
553,188
275,047
(58,946)
(147,072)
1,781,252
At 30
September
2021
£
90,855
90,855
At 30
September
2020
£
57,149
57,149

Page 25

Muhammadi Trust of GB & NI

Statement of Financial Activities by fund for the Year Ended 30 September 2021

Total Total
Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Income and Endowments from:
Donations and legacies 308,056 12,547
Investment income 40,341 44,497
Other income 29,451 58,904
Total income 377,848 115,948
Expenditure on:
Raising funds (23,755) (34,003)
Charitable activities (66,761) (65,450)
Total expenditure (90,516) (99,453)
Net income 287,332 16,495
Net movement in funds 287,332 16,495
Reconciliation of funds
Total funds brought forward 1,769,405 1,752,910
Total funds carried forward 2,056,737 1,769,405

This page does not form part of the statutory financial statements. Page 26

Muhammadi Trust of GB & NI

Statement of Financial Activities by fund for the Year Ended 30 September 2021

Income and Endowments from:
Expenditure on:
Net income/(expenditure)
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2021
£
-
11,847
11,847		 Total
Restricted
Funds
2020
£
-
11,847
11,847

This page does not form part of the statutory financial statements. Page 27

Muhammadi Trust of GB & NI

Detailed Statement of Financial Activities for the Year Ended 30 September 2021

Income and Endowments from:
Donations and legacies (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2021
£
308,056
40,341
29,451
377,848
(23,755)
(66,761)
(90,516)
287,332
287,332
1,781,252
2,068,584		 Total
2020
£
12,547
44,497
58,904
115,948
(34,003)
(65,450)
(99,453)
16,495
16,495
1,764,757
1,781,252

This page does not form part of the statutory financial statements. Page 28

Muhammadi Trust of GB & NI

Detailed Statement of Financial Activities for the Year Ended 30 September 2021

Donations and legacies
Appeals and donations
Investment income
Income from investment properties
Income from other investments
Other income
Other income - Waadi income
Other income - Book sales
Other income - Hall bookings
Raising funds
Other fundraising costs - Waadi expenses
Other fundraising costs - Mujalis expenses
Opening stock
Closing stock
Charitable activities
Wages and salaries
Staff NIC (Employers)
Rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Office expenses
Computer software and maintenance costs
Printing, postage and stationery
Cleaning
Travel and subsistence
Accountancy fees
Legal and professional fees
Bank charges
Loan interest
Depreciation of freehold property		 Total
2021
£
308,056
308,056
39,024
1,317
40,341
14,000
245
15,206
29,451
(1,225)
(9,090)
(178,080)
164,640
(23,755)
(17,052)
(143)
(1,391)
(1,870)
(4,178)
(17,855)
(1,572)
(377)
(350)
-
(956)
(20)
(1,462)
-
(792)
(1,713)
(17,885)		 Total
2020
£
12,547
12,547
42,925
1,572
44,497
46,500
500
11,904
58,904
(10,025)
(10,538)
(191,520)
178,080
(34,003)
(16,910)
(139)
(1,456)
(1,161)
(4,643)
(7,594)
(1,819)
(510)
(300)
(1)
(1,758)
(1,177)
(3,629)
(485)
(903)
(3,246)
(18,250)

This page does not form part of the statutory financial statements. Page 29

Muhammadi Trust of GB & NI

Detailed Statement of Financial Activities for the Year Ended 30 September 2021

Depreciation of fixtures and fittings
Depreciation of office equipment
(Gain)/loss on UK investments		 Total
2021
£
(85)
(450)
1,390
(66,761)		 Total
2020
£
(100)
(530)
(839)
(65,450)

This page does not form part of the statutory financial statements. Page 30