##
|CONTENTS||PAGE|
|---|---|---|
|Members
ofthe Board and professional|advisers||
|Trustees Annual
Report||2 to 4|
|Independent
auditor's
report to the members||5to6|
|Statement offinancial
activities|||
|Balance sheet|||
|Notes to the financial statements||9to15|
##
##
|Registered|charity name|THE WALTHAM|FOREST|ISLAMIC ASSOCIATION|
|---|---|---|---|---|
|Charity number||270323|||
|Address||439-451 Lea Bridge Road|||
|||Leyton|||
|||London|||
|||E107EA|||
|||Mr Mohammed|Ramzsn|(President)|
|||Mr Mohammed|gyes|(General Secretary)|
|||Mr Akbar Ali||(Treasurer)|
|||Mr Abdul
Majid||(Vice President)|
|||Mr Irfen Akhtar||(Assistant Secretary)|
|||Mr Rsmzsn
Abrshim||(Vice Treasurer')|
|||Mr Nisar Ahmed|||
|||Mr M Shabbir|||
|||Mr Raja Aamir Habib|||
|||Mr Haji Jamshid|Ali|(Deceased 16June 2020)|
|||Mr Sajid Butt|||
|||Mr Tsriq Mahmood|||
|||Mr Abdul Rauf|||
|||Ch Nisar Ahmed|||
|||Mr Irfan Khsliq|||
|||Mr Nadeem
Razwan|||
|||Mr Saqib Hussein|||
|||Mr Ghulam
E HaiderAk|||
|Accountants||Sterling Solution|Ltd||
|||37York Road|||
|||llford|||
|||Essex|||
|||IGI 3AD|||
|Auditor||ASN Partnership|Lld||
|||47York Road|||
|||gford|||
|||Essex|||
|||IGI 3AD|||
|Bankers||Barclays Bank Pic|||
|||278 Hoe Street|||
|||Wslthsmstow|||
|||London|||
|||E179QE|||
##
|Reference||and administrative|and administrative|details||
|---|---|---|---|---|---|
|Registered|charity||name:|Waltham
Forest Islamic Association||
|Charity registration|||number.|270323||
|Principal office:||||430-451 Lea Bridge Road Leyton London E10TEA||
|The trustees||who|served the charity during the period were as follows|||
|||||Mr Mohammed
Ramzan|(President)|
|||||Mr Mohammed
llyas|(General Secretary)|
|||||Mr Akbar Ali|(Treasurer)|
|||||Mr Abdul
Majid|(Vice President)|
|||||Mr irfan Akhtar|(Assistant Secretary)|
|||||Mr Rarnzan
Abrahim|(ViceTreasurer)|
|||||Mr Nisar Ahmed||
|||||Mr M Shabbir||
|||||Mr Raja Aamir Habib||
|||||Mr Sajid Butt||
|||||Mr Tariq Mahrnood||
|||||Mr Abdul Rauf||
|||||Ch Nisar Ahmed||
|||||Mr Irfan Khaliq||
|||||Mr Nadeern
Razwan||
|||||Mr Saqib Hussein||
|||||Mr Ghulam EHaider Ali||
##
##
##
##
##
##
##
##
##
##
##
|||D
Unrestricted
FUU48
8|31/0N2021
Restricted
FUttda
8|Total
FUflds
8|3103/2020O
Total
Funds
4|
|---|---|---|---|---|---|
||Nom|||||
|Incoming Resources||||||
|Incoming resources from||||||
|generating
funds:||||||
|Volurasry
Income||294,921||294,921|325,474|
|Inveslmenl
Income||86,440||86,440|98,795|
|Total Ineontlng
Resources||381Sgf||361,381|424,268|
|RssoUrces Expsrfded||||||
|Costs of generating
funds:||||||
|Direct Costs||62,249||62,249|71,470|
|Donabons
Given||2,410||2,410|1,376|
|Administrative
Expenses||||||
|Staff Costs &Emoluments||73,785||73,785|69,650|
|Molar Running
&Travelling||2,880||2,880|S,504|
|Rates, Insurance
&Other property related expenses||57,358||57,3$!|96,201|
|Telephone, Postage amd Other oglce expenses||3,301||3,301|4,932|
|Bank Charges||692||692|972|
|Aude, Accountenoy
&Legal and Professional Fees||5,379||5,379|4,325|
|Depreciation||10,808||10,808|10,263|
|||218JI62||218,882|282,893|
|Gain IILosses) on fair value of Uxad assets
Net ntovement
offund|7|1,298,137
1,468,836||1,298,1S7
1,636||
|Reconcglatlon offunds:||||||
|Totfll fttnds brought forward||'7,625,812||7,625,812|7,464,436|
|Total funds ss al 31 March 2021||||9'0841448|7,825,812|
##
##
|FOR THEYEAR EN|DED|31 MAlkCH|2D21|||||
|---|---|---|---|---|---|---|---|
|||||31M32024|||31/03/2020|
||||Mole|||||
|Fixed Assets -Tangible Assets||||||||
|Fmehold
Land 8 Buldlngs||||4,000,0M|||7,473,663|
|Investment
Propeaks
PI8nt3Mschlflery||||4,770,0M
54,701|||45,063|
|Fixtures 6 Fmings||||16,913|||18,702|
|Motor Vehicles||||26.658||||
||||||8,067mo72||7,506227|
|Cunent Assets||||||||
|Stock|||0|1,560|||2.650|
|Debtors|||9|2,600|||1,700|
|Cash fn Hand 5Bank|Balance||16|897.348||||
|Cradltorst
Amounts|Fsglng|||||||
|Dae Within One Year||||40A3||||
|Het Current Assets||||||||
||||||9,227,74S||ydtdg, t12|
|Crediton IAmounts|Faglng|Dere||||||
|ADer More Than One|Year|||||||
|Other Long Term Loans|||12||143|300|~233~300|
|Csplbd Account||||||||
|Unmslrimsd
Income Funds|||13||9.0|448|7,626212|
##
##
##
##
|Tangible fixed assets, other than freeh
stated below. oepreclatlon
is provided
asset over ita expected
useful
life,|old
land, are stated at cost orvalu
at rates calculated to write offth
aa fogowa:|
|---|---|
|Freehold land and bugdlng|No depreciation|
|Investment
properties|at Fair value|
|Fixtures and fittings|10%reducing balance|
|Plant and machinery|10%reducing balance|
|Motor vehicles|10%reducing balance|
##
##
##
|3.Investment|3.Investment||Income|Income|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Total|||Total||
|||||||Fundsf|Funds
8|Funds
f|2021||Funds|2020|
|Rental Income|||From|properties||86ri40|||86|0||98796|
|4.Direct|Costs||||||||||||
|||||||Unrestncted|Restricted|Total|||Total||
|||||||Funds|Fniids|Funds|2021||Funds|2020|
|||||||2|f|f|||f||
|Opening|Stock - Funeral Boxes|||||2,650|||2,650|||2,500|
|Funeral Expenses||||||5,535|||5,535|||7,040|
|Madressa|Education,|||Books & ExibiTions||50,545|||50,545|||62,437|
|Social Activites|||ISubsistence|||2,070|||2,070|||481|
|Radios||||||3,009|||3,009|||1,652|
|Closing Stock|||- Funeral Boxes||||||||||
|||||||||||||71470|
|5.Donations||Given|||||||||||
|||||||Unrestricted|Restricted|Total|||Total||
|||||||Funds|Funds|Funds|2021||Funds|2020|
|||||||8|8|6|||6||
|Donations|Given To|||Other Organisations|&Charites|||||||1.376|
##
|FOR THE YEAR ENDED 31IBARCH 2021|FOR THE YEAR ENDED 31IBARCH 2021|||||||||
|---|---|---|---|---|---|---|---|---|---|
|6.Administrative
Expenses (Detaged)||Unrestricted||Restricted||Total||Total||
|||Funds||Funds||Funds 2021||Funds 2020||
|||E|||E|6||||
|I)StaffCosts & Emoluments||||||||||
|Wages &Salaries (Gross)||||||||69,850||
|Particumrs
of empfoyeesi||||||||||
|The average
number
ofemployees|during the year, calculated on the||basis offull-time||equivalents,|was as follows:||||
|||||||2021||2020||
|Number
ofstaff||||||||||
|No employee
received remuneration|ofmore sian E60,000 during the||year|(2021 - Nil).||||||
|There were no tmstees'
remuneration|or other bsneBs forthe year ended 31 March 2021.|||||||||
|0) Motor Running
&Travelling||||||||||
|iii) Rates, Insurance
&Other property||||||||||
|related expenses||||||||||
|Rates||||||||15,917||
|tight & Heat||17,216||||17,216||18,729||
|Property lrisurence||3,245||||3,245||3,121||
|Security &Fire Safety||1,051||||1,051||2,979||
|Cleaning||22,114||||22,114||25,758||
|Water Rates||4,019||||4,019||4,769||
|Advertisement|||149||||149|1,479||
|Repairs & Maintenance||||||9|564|23|449|
|Iv) Telephone, Postage amd Other
oNce expenses||||||3|301|4|932|
|v) Bank Charges|||692||||692||972|
##
##
##
##
##
|7.Tangible Fixed Assets||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Freehold
Land 8
Buildings||Inveshnent
Properges|Fixtures 6
FIMngs|Plant 6
Machinery|Motor Vehicle||
|Cost ofFixed Assets||||||||||||
|As at 01 April 2020|||||7,473,883|||30,734|179,371|48,450|7,732,418|
|Additions|||||||||15,716||15.716|
|Transferred
to Investment|Properhes||||(3,473,883)||3,473,863|||||
|Gain I Losses on fair value|of|fixed assets|||||1,296,137||||1296137|
|As st31 March 2021||||||000000|4770000|30.734|195,087|48,450|9,044,271|
|Dspreciadon||||||||||||
|As at 01 April 2020||||||||11,042|134,308|19,041|168,191|
|Charge forthe year||||||||I 879|6078|2 851|fOAI08|
|As at31Blsrch 2021||||||||13,821|140,386|22 792|176999|
|Net BookValue||||||||||||
|As at31March 2021|||||4|000 000|4,770,000|16,913|547D1|25,668|8,867,272|
|As at 31 Mamh 2020|||||7,473,863|||10,792|45,063|28,500|7,566227|
||||||||||||fair value|
|Investment
Properties||||||||||||
|22Verulam
Avenue Walthamstow|||landon||||||||870,000|
|21AVerulam
Avenue Walthamstow|||London||||||||420,000|
|210Verulam Avenue Walthamstow|||London||||||||385,0DD|
|119-121Grove Road Walthamstow|||London||||||||2,000,000|
|2 Rochdale Road, Walthamstow||London|||||||||475,0DD|
|1nort
hum harland
Road, Walt|hamstow|||London|||||||620,0DD|
||||||||||||4770 ODD|
##
##
##
|10.Cash in Hand and at|10.Cash in Hand and at|Bank||||||2021|2020||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||E|2||
|Sarclays Sank||||||||386,469|354,733||
|Cash in Hand|||||||||||
||||||||||358099||
|11.Creditors||||||||2021|2020||
|||||||||8|6||
|Accruals||||||||8,879||3,500|
|Other creditors||||||||2,135||1,493|
|Sadqa Zakat Payable||||||||21,278|65,704||
|Wages and Salary Control Account||||||||4,938||5,719|
|Social Security|8Taxation||||||||||
|12.CredĂorsr|Amounts|Falling Due||||||2021|2020||
|After More|Than One|Year||||||6|6||
|Qarz e Hassana||||||||3$0r||rSDD|
|Qarz E I-lasna|is an interest free long term loan with nc fixed terms of repayment.||||||||||
|13.Unrestricted
Income||Funds|||||||||
|||Balance|at|Incoming|Revaluation||of|Prior year|Balance|at|
|||01-Apr.20||resources|Land 0|Buildings||adjustmenls|31-Mar-21||
|General Funds||6|H||||||9084448||
|14.Analysis ofNet Assets Between Funds|||||||||||
||||||Unrestricted|||TotalFunds|TotalFunds||
||||||Funds|||2021|2020||
||||||||||5||
|Tangible
fixed|assets|||||8,867,272||8,867,272|7,566,227||
|Current assets||||||401,408||401,408|362,449||
|Creditom less than I year||||||(40,932)||(40,932)|(79,564)||
|Creditors greater than 1 year|||||||||||