MEMON ASSOCIATION UK Charity Registered Number: 269563
NATIONAL COUNCIL MEMBERS' AND TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
KWSR & CO Ltd CHARTERED ACCOUNTANTS & REGISTERED AUDITORS 136 MERTON HIGH STREET LONDON SW19 1BA
Memon Association UK
LEGAL AND ADMINISTRATIVE INFORMATION
| Registered Charity Number | 269563 |
|---|---|
| Trustees | Sir Iqbal Sacranie (Chairman) |
| Haroon Karim | |
| Nowsad Gani | |
| Bashir Sattar | |
| Dr Esmail Harunani | |
| Asif Rangoonwala | |
| Hanif Osman | |
| Yousuf Gadit | |
| Shamim Osman | |
| Waseem Adil | |
| Office Bearers | Shabir Valimohamed - Honorary President |
| Zaheed Harunani - Honorary Vice President | |
| Wasim G.M. Kassam - Honorary Treasurer | |
| Foorqan Ismail - Honorary Secretary | |
| AK Sacranie - Honorary Assistant Secretary | |
| National Council Member | Nadeem Harunani |
| Shabir Tayub | |
| Arshad Gani | |
| Hamza Valimahomed | |
| Zeenat Valimohamed | |
| Noor Valimohamed | |
| Zain Gani | |
| Farah Lohiya | |
| Sajida Tayub | |
| Mohsin Tayub | |
| Registered Office | 3 Weir Road |
| London | |
| SW12 OLT | |
| Auditors | KWSR & CO |
| Chartered Accountants & Registered Auditors | |
| 136 Merton High Street | |
| London SW19 1BA | |
| Bankers | Lloyds Bank Plc |
| Al Rayan Bank Plc |
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Memon Association UK
FOR THE YEAR ENDED 31 DECEMBER 2024
Contents
LEGAL AND ADMINISTRATIVE INFORMATION ...................................................................................... 1 REPORT OF THE NATIONAL COUNCIL MEMBERS AND TRUSTEES........................................................... 3 REPORT OF THE AUDITORS................................................................................................................. 5 BALANCE SHEET AT 31 DECEMBER 2024 ............................................................................................. 7 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................ 8 DETAILED ANALYSIS OF MOVEMENTS IN FUNDS .................................................................................. 9 NOTES TO THE FINANCIAL STATEMENTS ............................................................................................10
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Memon Association UK
REPORT OF THE NATIONAL COUNCIL MEMBERS AND TRUSTEES
The National Council members and trustees present their report in accordance with the Charities Act 2011, together with the financial statements for the period, and confirm that the latter comply with the requirements of the Act, the Constitution and the Charities SORP 2005.
On 25th June 2024, the Charity was converted into a Charitable Incorporated Organisation (CIO) and duly registered with the Charity Commission under charity number 1208815. We are presently awaiting the Charity Commission’s approval for the transfer of assets to the newly established CIO.
Structure, Governance and Management
Governing document
The Charity is governed by its Constitution and it's objects are to promote and advance the religion and education in accordance with the tenets and doctrines of Islam. A number of religious, social, cultural and educational activities including community welfare are also the objectives of the Association.
The Association owns a freehold property named "Memon Centre", a multi-purpose community hall which caters for the members who take part in the various activities.
Appointment of trustees
Appointment of Trustees is governed by the Constitution of the Charity. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee. The trustees who served during the year are set out on the Charity information page at the front of these accounts. No Trustee has any beneficial interest in the Association and all of them are members of the association.
Organisation
In accordance with the constitution the affairs of the Association are managed by the office bearers and members of the National Council who are elected for a term of two years. The day to day activities are delegated to the centre Manager.
Related parties
There are no related parties that require disclosure. Risk policy
The trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Achievements and performance
The trustees are pleased to state that the Charity has continued with its principal activity of hall hire as in previous years and they are satisfied with the results for the year. The overheads were again kept to the minimum, excluding costs relating to the projected refurbishment of the Centre.
Financial review
Reserves policy
It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity, at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds were maintained at this level throughout the year.
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Memon Association UK
Accounting and reporting responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of the incoming resources application of resources of the Charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on a going concern basis unless it is appropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations and the provision of the Constitution. They 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.
Auditors
Trustees and National Council propose to nominate KWSR & Co to continue as auditors until the next AGM.
Approved by the Trustees and National Council signed on its behalf by:
Shabir Valimahomed
Sir Iqbal Sacranie (Oct 14, 2025, 1:30pm)
Shabir Valimahomed (Oct 8, 2025,3:32pm)
--------------------------------------- --------------------------------------
Chairman, Board of Trustees
President
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Memon Association UK
REPORT OF THE AUDITORS
FOR THE YEAR ENDED 31 DECEMBER 2024
We have audited the financial statements of Memon Association UK for the period ended 31 December 2024 which comprise a Statement of Financial Activities, Balance Sheet, and related notes in accordance with the terms of our engagement letter dated 7 November 2019. The financial reporting framework that has been applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice).
Respective Responsibilities of Trustees and Auditors
The trustees are responsible for preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit the financial statements are in accordance with applicable law and International Standards on Auditing (UK & Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standard for Auditors.
Scope of the Audit
An audit involves obtaining evidence about the amount of disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of whether the accounting policies are appropriate to the Charity's circumstances and have consistently applied adequately disclosed, the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements.
Opinion on the Financial Statements
In our opinion the financial statements give a true and fair view of the state of the Charity's affairs for the period ended 31 December 2024; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011.
Opinion on other matters prescribed by the Charities Act 2011
In our opinion the information given in the Report for the financial year for which the financial statements are prepared is consistent with the financial statements. The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Matters on which we are required to Report by Exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us following report to you if, in our opinion:
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Adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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Certain disclosures of trustees remuneration specified by law are not made; or
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Memon Association UK
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We have not received all the information and explanations we require for audit; or
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The Trustees were not entitled to prepare the financial statements in accordance with the Small Companies regime and take advantage of the Small Companies Exemption in preparing the Report of the Trustees.
On behalf of KWSR & Co. LTD:
--------------------------------------------------- Susan Rahman (Oct 14, 2025, 2:02pm)
Susan Rahman, BSc FCA (Senior Statutory Auditor)
KWSR & Co. Chartered Accountants
136 Merton High Street, London SW19 1BA
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Memon Association UK
BALANCE SHEET AT 31 DECEMBER 2024
| Tan gib lefixed assets No te Tangible assets 4 C u r r en t assets Debtors 5 Bank Accounts C r ed ito r s Amounts falling due within one year 6 Net c u r r en t assets To tal assetslessc u r r en tliab ilities C r ed ito r s Amounts falling due after more than one year 6 Net assets C ap ital fu n d s Restricted funds Unrestricted funds Current Year Earnings To tal fu n d s |
£ 2024 £ £ 2 0 2 3 £ 1,345,436 1,341,372 11,000 48,700 519,803 497,517 530,803 546,217 2,630 28,016 528,173 518,201 1,873,609 1,859,573 (347,514) (347,514) 1,526,095 1,512,059 - - 1,512,059 14,036 1,501,356 10,703 1,526,095 1,512,059 |
£ 2024 £ £ 2 0 2 3 £ 1,345,436 1,341,372 11,000 48,700 519,803 497,517 530,803 546,217 2,630 28,016 528,173 518,201 1,873,609 1,859,573 (347,514) (347,514) 1,526,095 1,512,059 - - 1,512,059 14,036 1,501,356 10,703 1,526,095 1,512,059 |
|---|---|---|
| 530,803 2,630 |
||
| 1,859,573 (347,514) |
||
| 1,512,059 | ||
| - 1,501,356 10,703 |
||
| 1,512,059 |
Approved by Trustees and National Council signed on its behalf.
Shabir Valimahomed
Shabir Valimahomed (Oct 8, 2025,3:32pm)
Sir Iqbal Sacranie (Oct 14, 2025, 1:30pm) 3:32pm) ………………………………………………………… …………………………………………………….
Chairman, Board of Trustees
President
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Memon Association UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note In c o m in g r eso u r c es Incoming Resources from generated funds: Voluntary income 8 Activities to generate funds 8 Investment income 8 Other incoming resources To talin c o m in gr eso u r c es R eso u r c esexp en d ed Charitable activities 10 Costs of generating funds 9 Governance costs 11 To talr eso u r c esexp en d ed Netm o v em en t in fu n d s To talfu n d s b r o u gh t fo r w ar d To talfu n d s c ar r ied fo r w ar d |
Unrest'd R est'd In c o m e To tal Fu n d s To tal Fu n d s Fu n d s Fu n d s 2 0 2 4 2 0 2 3 £ £ £ £ 768 36,740 37,508 124,237 73,905 73,905 85,886 3,627 3,627 3,173 |
|---|---|
| 78,300 36,740 115,040 213,296 - - - |
|
| 78,300 36,740 115,040 213,296 |
|
| 1,495 36,740 38,235 133,282 40,424 - 40,424 50,261 22,345 22,345 19,050 |
|
| 64,264 36,740 101,004 202,593 |
|
| 14,036 14,036 10,703 1,512,059 - 1,512,059 1,501,356 |
|
| 1,526,095 - 1,526,095 1,512,059 |
Details of Incoming resources and resources used are given in the notes to the financial statements.
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Memon Association UK
| DETAILED ANALYSIS OF MOVEMENTS IN FUNDS FOR THE YEAR ENDED 31 DECEMBER 2024 2 0 2 4 ££ £ Un r estr ic ted Fu n d Balance B/fwd. 1,512,059 1,501,356 Profit/ Deficit for the period 14,036 10,703 1,526,095 R estr ic ted In c o m eFu n d Opening Balance -- -- To tal funds as at 31 December 2 0 2 4 1,526,095 |
DETAILED ANALYSIS OF MOVEMENTS IN FUNDS FOR THE YEAR ENDED 31 DECEMBER 2024 2 0 2 4 ££ £ Un r estr ic ted Fu n d Balance B/fwd. 1,512,059 1,501,356 Profit/ Deficit for the period 14,036 10,703 1,526,095 R estr ic ted In c o m eFu n d Opening Balance -- -- To tal funds as at 31 December 2 0 2 4 1,526,095 |
2 0 2 3 £ 1,512,059 1,512,059 |
|---|---|---|
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Memon Association UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in March 2005, applicable UK Accounting Standards, and the Charities Act 1993. The principal accounting policies adopted in the preparation of the financial statements are set out below.
Incoming resources
All incoming resources are included in the SOFA when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category Where costs cannot be directly attributed to headings they have been allocated to activities on a basis consistent with use of the resources.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures and Fittings - 25 % per annum on reducing balance basis.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees for purposes. the aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund as set out in the notes to the financial statements.
Investment Income
Income from investments is accounted for on an accrual’s basis.
2. Staff costs
The average number of persons employed by the organisation, including director, during the period was as follows:
2024 2023
Administration
1 1
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Memon Association UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 3 . In v estm en tIn c o m e Investment income-Al Rayan Bank 4 . Tan gib le fixed assets Cost: At 1 January 2024 Addition during the year At 31 December 2024 Depreciation: At1January 2024 Charge for the period At 31 December 2024 Net book value: At 31 December 2024 At 31December 2023 |
Lan d an d B u ild in gs £ 1,339,781 4,462 |
2 0 2 4 2 0 2 3 £ £ 3,627 3,173 |
|---|---|---|
| 3,627 3,173 |
||
| P lan t an d M ac h in er y To tal £ £ 80,663 1,420,444 4,462 |
||
| 1,344,243 | 80,663 1,424,906 |
|
| 79,072 79,072 398 398 |
||
| 79,470 79,470 |
||
| 1,344,243 | 1,193 1,345,436 |
|
| 1,339,781 | 1,591 1,341,372 |
The land and buildings at 3 Weir Road, London SW12 OLT have not been valued However, the Trustees believe that the current market value would be in the region of between £2.5m to £3m.
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Memon Association UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
5 . D eb to r s an d p r ep ay m en ts
| Amounts falling due within one year: Accounts Receivable Memon Association Leicester Loan 6 . C r ed ito r s Amounts falling due within one year: Donations Islamic Relief (Deferred Outflow Resource) Suspense PAYE Accounts Payable Accruals Wages Amounts falling due after more than one year: MA Rangoonwala Foundation Members'loans |
2 0 2 4 £ - 11,000 |
2 0 2 3 £ 26,200 22,500 |
|---|---|---|
| 11,000 | 48,700 | |
| 2 0 2 4 £ - - - - 1,440 1,190 |
2 0 2 3 £ - - 201 26,795 1,440 (420) |
|
| 2,630 |
28,016 | |
| 249,355 98,159 |
249,355 98,159 |
|
| 347,514 | 347,514 |
The Members' loans reflect the amount outstanding at the year-end and is interest free. The loan advanced by M A Rangoonwala Foundation, a charitable entity, is not repayable within a specified period but is secured under a mortgage deed on the freehold property.
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Memon Association UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7 . Tr u stees' r em u n er atio n an d B en efits
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
8 In c o m in g r eso u r c es
.
| Vo lu n tar y In c o m e Donations and Subscriptions Member subscription Ac tiv ities fo r gen er atin g fu n d s Hire of Hall (Main) Hire of Hall (Small) Event Income Rental Income – Flat & Parking In v estm en t in c o m e Investment income |
Unrest'd Fu n d s Restricted Funds To tal Fu n d s To tal Funds 2 0 2 4 £ 2 024 £ 2 0 2 4 £ 2 0 2 3 £ 768 - 36,740 - 37,508 - 124,237 |
|---|---|
| 768 36,740 37,508 124,237 |
|
| 59,505 - - 59,505 - 66,827 - 14,400 - - 14,400 4,159 14,900 |
|
| 73,905 - 73,905 85,886 |
|
| 3,627 - - 3,173 |
|
| 3,627 - - 3,173 |
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Memon Association UK
9. Costs of generating funds
| Print,Post&Stationery Telephone Rates Water rates Light&Heat Repairs & Maintenance Insurance Cleaning Fire&safety Subscription Advertisement & Website Sundry expenses |
2 0 2 4 £ - 2 0 2 3 £ - 1,103 1,016 7,705 7,357 25 7,303 15,981 18,226 1,514 2,640 7,994 7,768 4,848 4,730 - 757 - - 1,071 - 97 150 40,424 50,261 |
|---|---|
| 1 0 . C h ar itab le ac tiv ities Sportsevents Family events Build a house expense(Repairs) Food Pack expense E'quake Appeal (Turkey/Syria) Medical Aid (Palestine) Ummah Welfare Trust (Gaza) |
2 0 2 4 £ 2 0 2 3 £ - 1,495 3,200 15,450 - - 18,090 420 9,159 - 27,690 15,150 80,863 - |
|---|---|
| 38,235 133,282 |
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Memon Association UK
| 1 1 . G o v er n an c e c o sts Salaries Book-keeping fees Auditor's fee Legal cost Depreciation |
2 0 2 4 £ 2 0 2 3 £ 16,900 15,600 2,000 1,480 1,440 1,607 398 1,440 - 530 |
|---|---|
| 22,345 19,050 |
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Issuer
KWSR and Co LTD
Document generated Fri, 5th Sep 2025 11:49:37 BST
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Shabir Valimahomed - Signer (9f5646562dc4dffd1d1b7bf316fa5bb9) Sir Iqbal Sacranie - Signer (30ec6500a8ce1150bc1aee108e4f0afa) Susan Rahman - Signer (33830a5dd094ac604f1b36c42b44e77f)
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