Charity registration number: 265673
## Muhammadi Trust of GB & NI
Annual Report and Financial Statements for the Year Ended 30 September 2022
## **Muhammadi Trust of GB & NI**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7 to 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 2022.
## **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 who are still there , 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 this year.
Page 2
## **Muhammadi Trust of GB & NI**
## **Trustees' Report (continued)**
## _**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. Further work was carried out during Covid. Trust might order more slabs/ covers for the new graves. Waadi committee must get further estimates and get active in marketing the project and in turn selling of the graves.
## The Centre at Walm Lane:
The roof at Walm lane needed changing and lot of repair work required at some places. Pointing is also required on the wall to assist water leak. The water is leaking in the rooms upstairs. The job is of decent size and currently the trust is looking for suitable architects and contractors to take on this project. All trustees have been requested to put their suggestions for contractors so a final decision can be made. 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
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. However, this year the activities were held at the trust and the gathering was not as large as expected. 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 refurbishment work has been completed. 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. Therefore, waadi committee needs to finalise a book that can be published and benefit the community. Audio books will also be a good idea.
## _**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. More of these activities need to be arranged once the refurbishment work has been completed.
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.
Page 3
## **Muhammadi Trust of GB & NI**
## **Trustees' Report (continued)**
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 start further works at Waadi, this will assist us to increase number of reservations of the graves.
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. Through the medium of interfaith dialogues, the Trust wishes to encourage greater understanding between different communities and religious believes. We hope such forums shall provide an arena for co-operation and unity based on knowledge and understanding.
## **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.
All trustees, have a generic responsibility for all matters related to the Trust. The board of Trustees consists of specialists in Education and different businesses. Hence, in relation to training, most of them are trained by their professional experience. The Trust has had two part time staff from which one part time staff responsible for publication, seminars and marketing and another part time staff for day- to- day activities at the trust including Hall Hire and upkeep of the Centre.
The annual report was approved by the trustees of the charity on 27 June 2023 and signed on its behalf by:
.........................................
Ms K Z Fazil Trustee
Page 4
## **Muhammadi Trust of GB & NI**
## **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:
- 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;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 Charities (Accounts and Reports) Regulations 2008, 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.
Approved by the trustees of the charity on 27 June 2023 and signed on its behalf by:
......................................... Ms K Z Fazil Trustee
Page 5
## **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 2022 which are set out on pages 7 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. It is my responsibility to:
• examine the accounts under section 145 of the 2011 Act;
• to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
• to state whether particular matters have come to my attention.
## **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:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...................................... Mr Dhirajlal Shah Chartered Accountants & Statutory Auditors DSK Partners LLP
DS House 306 High Street Croydon CR0 1NG
27 June 2023
Page 6
## **Muhammadi Trust of GB & NI**
## **Statement of Financial Activities for the Year Ended 30 September 2022**
|**Note**
**Income and Endowments from:**
Donations and legacies
Investment income
4
Other income
Total income
**Expenditure on:**
Raising funds
Charitable activities
Total expenditure
Net expenditure
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**
**£**
1,120
39,128
26,509
66,757
(42,053)
(83,846)
(125,899)
(59,142)
(59,142)
2,056,737
1,997,595
**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|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
11,847
11,847
**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
11,847
11,847|**Total**
**2022**
**£**
1,120
39,128
26,509|
|---|---|---|---|
||||66,757|
||||(42,053)
(83,846)|
||||(125,899)|
||||(59,142)|
||||(59,142)
2,068,584|
||||2,009,442|
||||**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|
The notes on pages 10 to 25 form an integral part of these financial statements. Page 7
## **Muhammadi Trust of GB & NI**
## **Statement of Financial Activities for the Year Ended 30 September 2022 (continued)**
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 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 2022**
|**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|**2022**
**£**
1,188,971
540,926
1,729,897
159,600
1,666
297,764
459,030
(58,554)
400,476
2,130,373
(120,931)
2,009,442
11,847
1,997,595
2,009,442|**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|
The financial statements on pages 7 to 25 were approved by the trustees, and authorised for issue on 27 June 2023 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 2022**
## **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:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Page 10
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **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 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 2022 (continued)**
## **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 2022 (continued)**
## **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 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 2022 (continued)**
## _**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 2022 (continued)**
## _**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**
**£**
1,120
1,120|**Total**
**2022**
**£**
1,120
1,120|**Total**
**2021**
**£**
308,056|
|---|---|---|---|
||||308,056|
## **3 Income from charitable activities**
|Waadi income
Book Sales
Hall Bookings
**4**
**Investment income**
Other investment income
Income from rents|**Unrestricted**
**funds**
**General**
**£**
1,000
1,009
24,500
26,509
**Unrestricted**
**funds**
**General**
**£**
1,069
38,059|**Total**
**2022**
**£**
1,000
1,009
24,500
26,509
**Total**
**2022**
**£**
1,069
38,059|**Total**
**2021**
**£**
14,000
245
15,206|
|---|---|---|---|
||||29,451|
||||**Total**
**2021**
**£**
1,317|
||||39,024|
Page 15
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **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**
**£**
37,013
**Unrestricted**
**funds**
**General**
**£**
21,065
15,948
37,013|**Total**
**2022**
**£**
37,013
**Total**
**2022**
**£**
21,065
15,948
37,013|**Total**
**2021**
**£**
10,315|
|---|---|---|---|
||||**Total**
**2021**
**£**
1,225
9,090|
||||10,315|
Page 16
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **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**
**£**
22,575
70
3,034
507
18,359
39,301
83,846|**Total**
**2022**
**£**
22,575
70
3,034
507
18,359
39,301
83,846|**Total**
**2021**
**£**
17,052
143
1,462
-
18,420
29,684|
|---|---|---|---|
||||66,761|
## **8 Net incoming/outgoing resources**
Net (outgoing)/incoming resources for the year include:
|Depreciation of fixed assets|**2022**
**£**
18,359|**2021**
**£**
18,420|
|---|---|---|
## **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 2022 (continued)**
## **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|**2022**
**£**
22,575
70
22,645|**2021**
**£**
17,052
143|
|||17,195|
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:
|by the charity during the year expressed as full|time equivalents was as follows:||||
|---|---|---|---|---|
||**2022**||**2021**||
||**No**||**No**||
|Administrative staff||2||2|
No employee received emoluments of more than £60,000 during the year
## **11 Auditors' remuneration**
|**11 Auditors' remuneration**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|**Other fees to auditors**|||
|All other non-audit services|3,034|1,462|
## **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 2022 (continued)**
## **13 Tangible fixed assets**
|**Cost**
At 1 October 2021
Additions
At 30 September 2022
**Depreciation**
At 1 October 2021
Charge for the year
At 30 September 2022
**Net book value**
At 30 September 2022
At 30 September 2021|**Land and**
**buildings**
**£**
1,466,950
66,715
1,533,665
329,371
17,904
347,275
1,186,390
1,137,579|**Furniture and**
**equipment**
**£**
59,808
-
59,808
56,772
455
57,227
2,581
3,036|**Total**
**£**
1,526,758
66,715|
|---|---|---|---|
||||1,593,473|
||||386,143
18,359|
||||404,502|
||||1,188,971|
||||1,140,615|
Included within the net book value of land and buildings above is £1,186,390 (2021 - £1,137,579) in respect of freehold land and buildings and £Nil (2021 - £Nil) in respect of leaseholds.
## **14 Fixed asset investments**
|**14 Fixed asset investments**|||
|---|---|---|
|Investment properties
Other investments|**2022**
**£**
468,250
72,676
540,926|**2021**
**£**
468,250
86,328|
|||554,578|
Page 19
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **Investment properties**
|**Investment properties**|||||
|---|---|---|---|---|
|**Cost or Valuation**
At 1 October 2021
**Provision**
At 30 September 2022
**Net book value**
At 30 September 2022
At 30 September 2021
**Other investments**
**Cost or Valuation**
At 1 October 2021
Revaluation
At 30 September 2022
**Net book value**
At 30 September 2022
At 30 September 2021
**15 Stock**
Stocks||**Unlisted**
**investments**
**£**
86,328
(13,652)
72,676
72,676
86,328
**2022**
**£**
159,600||**Investment**
**properties**
**£**
468,250|
|||||-|
|||||468,250|
|||||468,250|
|||||**Total**
**£**
86,328
(13,652)
72,676
72,676
86,328
**2021**
**£**
164,640|
|||72,676|||
|||72,676|||
|||86,328|||
|||**2022**
**£**
159,600|||
Page 20
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **16 Debtors**
|Other debtors
**17 Cash and cash equivalents**
Cash on hand
Cash at bank
**18 Creditors: amounts falling due within one year**|**2022**
**£**
1,666
**2022**
**£**
513
297,251
297,764|**2021**
**£**
6,226|
|---|---|---|
|||**2021**
**£**
374
396,912|
|||397,286|
||||
|**18 Creditors: amounts falling due within one year**|||
|---|---|---|
|Bank loans
Trade creditors
Other taxation and social security
Other creditors
Deferred income|**2022**
**£**
15,763
4,750
1,339
4,702
32,000
58,554|**2021**
**£**
14,527
4,750
866
7,782
32,000|
|||59,925|
Creditors due within one year includes the following liabilities, on which security has been given by the charity:
|charity:|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Bank loans|15,763|14,527|
Page 21
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **19 Creditors: amounts falling due after one year**
|Bank loans|**2022**
**£**
120,931|**2021**
**£**
134,836|
|---|---|---|
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:|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Bank loans|120,931|134,836|
Page 22
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **20 Funds**
|**Unrestricted funds**
General
**Restricted funds**
**Total funds**
**Unrestricted**
General
**Restricted**
**Total funds**|**Balance at 1**
**October 2021**
**£**
2,056,737
11,847
2,068,584
**Balance at 1**
**October 2020**
**£**
(1,769,405)
(11,847)
(1,781,252)|**Incoming**
**resources**
**£**
66,757
-
66,757
**Incoming**
**resources**
**£**
(377,848)
-
(377,848)|**Resources**
**expended**
**£**
(125,899)
-
(125,899)
**Resources**
**expended**
**£**
90,516
-
90,516|**Balance at 30**
**September**
**2022**
**£**
1,997,595
11,847|
|---|---|---|---|---|
|||||2,009,442|
|||||**Balance at 30**
**September**
**2021**
**£**
(2,056,737)
(11,847)|
|||||(2,068,584)|
Page 23
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
## **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**
**£**
1,188,971
540,926
459,030
(58,554)
(120,931)
2,009,442
**Unrestricted**
**funds**
**General**
**£**
1,140,615
554,578
568,152
(59,925)
(134,836)
2,068,584
**At 1 October**
**2021**
**£**
397,286
397,286
**At 1 October**
**2020**
**£**
90,855
90,855|**Total funds**
**at 30**
**September**
**2022**
**£**
1,188,971
540,926
459,030
(58,554)
(120,931)|
|---|---|---|
|||2,009,442|
|||**Total funds**
**at 30**
**September**
**2021**
**£**
1,140,615
554,578
568,152
(59,925)
(134,836)|
|||2,068,584|
||||
Page 24
## **Muhammadi Trust of GB & NI**
## **Notes to the Financial Statements for the Year Ended 30 September 2022 (continued)**
**At 30 September 2022 £** 297,764 297,764 **At 30 September 2021 £** 397,286 397,286
Page 25