GLOUCESTERSHIRE ISLAMIC TRUST FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (Registered Charity No. 272760)
CLOUCESTERSHIRE ISLAMIC TRUST FINANCIAL STATEMEL¥TS FOR THE YEAR ENDED 31 MARCH 2024 IReiis*tred c.harity No. 2727601 CONTENTS Page Trustees Annuai Rewrt Indendent Examincr's Report Receipts and Payments Account Statem¢nt of Asscts and Liabilities Note5 to the Financial Statcments
GLOUCESTERSHIRE ISLAMIC TRUST Pa%e I AIYNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Gloucestershire Islamic 'frnst is conslituted by Deed ofTrust dated l December 1976 as amended by a Deed of Appointment of New Trustecs and Variation of Trusl dated 28, February 1978 and is Registered Charity No.272760. g*1 and Administrative Inforn)ation Principal address 2d All Saints Road Gloucester Bankers National Westhiinster Bank 21 Eastgate Street Gloucester Barclays Baiik 18 Southgaie Street Gloucester Independent Examiner H A Bhula 5 14oward Street Gloucester Solicitors Dee & Cjriffin Hueclecole Court 76 Hucclecote Road Glouc¢ster Aims and OrganiT4tion A Managcment Committee elected froTll the Board of Trnstses administers th¢ Trust and comprises.. Managing Trustee (Chairman) Honary Secrelary Hottary Treasurer Mr. S Dadabhoy Mr. Said Hansdot Mr. Abbas Hassanjee Other TTUStees who served during the year were: _ Mr. Soyeb Kholwadia Mr. Ismail Kholwadia Mr. Mohamed Bhaiyat Mr.Junaid Ghanty Mr. Mohammed Hanif Patel Mr. Abdul KhRl¢ch Dhalech
GLOUCESTERSHIRE tstAMIC TRUST Page 2 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (Contd.) Ainb5 and OryaniTation (Contd.) The object of the Tnth is to advance the religion of Islam in accordance with the tenels and do¢trin¢s of the Sunni Sect of Islam and the advancement of the education of Mush"m childTen in accordan¢¢ wtth the tenets alld doctrines of the Sunni Sect of Islam. In furtherance of its objects, the Trust maintains the Jama Al Kartm Mosqu The Trustees may, at their absolute discr70 invest Trust nx)n¢y in any inveslJn¢nt for the time being authorized by law for investment of Inj funds. Review tsf pn)Eress and aChieVennts The Tn Continu to operale an open-door FKTrlicy in te5ped of religious educaiion for the b¢n¢fit of Muslims and non-muslims who are eager to learn aboui Islam. This again has resulted in regular visits from schools and colleges during the year. There are also T¢8ular lectur&s by IslaTnic 5cholats from home and abroad. The Trusi also has an ongoing p)licy of seeking to creale hamlony within the community at large an¢ to this end. continued to (Y)-operate with the police, hospilal and soctal services to m&¥imi7.e understandRng of the vario$ ojltural needs. Other 5¢rvices the TnL8t continu&% to provide on a voluntary b&8is include burial servic4 Circumcision for newborn Muslim boys and nwriage services. Review of financial activities aDd affairs The Trust had a SU1 in the year of £44,314 (2023 Su]8 £67,705) and B&nk and C&8h balances on hand of £378.262 (2023 £333,948). The orwisation e1Ved income totslling £1 10.749 during the year which is slightly down on last year. The dre w&$ mainly from donatioA8 tncome but wa5 helpejl by Income Tax Tefunds of £12,122. Rental income is steady with all the properti&8 fully let apart from 135 Barton Street which As currenlly vacant. The property is OTJ the mark& and theTe is a prospective purchaser who h&8 shown an interest and the proceeds Mryll be shown in ne years a)ullts. The Direct Charitable eXpdItre incre&8ed by 24% compareAJ io previous year due mainly to tLeaiing c4)sts. Salary payments to staff are in line with Employment law. Other expenditu was 'gh as a result of Irease in rented pmperty repair cosfs. Mr. Said Hansdol {TnLStee) Secretarv On behalf of the Gloucestershire Islamic Twst
GLOUCEsfERSHIRE ISLAMIC TRUST Page 3 TO THE TRUSTEFS OF GLOUCESTERSHTRE ISLAMIC TRUST I rcport on the a¢¢ounts of the Trust (Charity no.272760) for the year cnded 31 March 2Q24. which are Set out on pag¢s 4 to 6. Respective responsibfilities of trnstee5 4lld examiner As the charity's Itee$ you gfL responsible for th¢ preparation of the accounts. you consider that an audit is not required for this year under qection 144 of Ihe Chariti¢s A¢1 2011 ('the Charitics Act") and that an indepcndent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act, to follow procedures laid down in the g¢neral Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act and to stale whethcr partTcular matters have come to my attention. Basis of independent ¢xaminera report My examination was carried out in ac¢ordan¢e with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It a150 includes the consideration of any unusual items or disclosures in the accounts and 5ecking explanations from you as trustees conceniing any such matters. The procedures undertaken do not provide all the evidence that would IK required in an audit, atKI nsequent7Y I do not express an audit opinion on the CoUnts. Independent exaTniDers" report In connection with our examination, no material matter has come to my att¢nlion which gives me cause to believe ihat in any matcrial re5peLt'. Th¢ accounttng records weTe kcpt in accordance with section 130 of the Charities Act. or The accounts did not aceoTd with the aecounling TordS- or 'rhe a¢counts did not ¢omply with th¢ applicable requirements ¢oncernin¥ the fom and content of AountS set out in the Charili¢s ( Accounts and Rewrts) Regulations 2008 other than any requir¢ment that the accounts give a 'tTh¢ and tRir'view which is not a matter considered as part of an independent examination. I hav¢ Come aCTOSS no other matt¢rs in connection with th¢ examination lo which attcntion should be drawn in this report in order to enabl¢ a prop¢r understanding of th¢ accounts to be reached. H A BHULA (FCCA) Charter¢d Certified Accountant Gloucester. 12tb January 2025
GLOUCESTERSHIRE ISLAMIC TRUST YEAR ENDED 31 MARCH 2024 RECEIPTS ALYD PAYMENTS Accouwr GENERAL PURPOSES FUND Page 4 2024 2023 Nots$ RECEIPTS VolMntary sourees Donations and ¢ollections-GeneTal purpose Income t&¥ and refunds 69,327 12.122 82.621 Incorne from assets Rcnt5 from properties 29,300 36,885 110,749 PAYl¥fENTS Dire¢t charitable expenditure Payments to Imam and Nic Pension costs Repairs and maintenanc¢ to Mosque Light and heating- Mosque Insurances - Mosque General rates Water rates- Mosque 35,894 1,073 2,732 16,919 3,713 33,778 1,022 3.578 7,639 3,186 2,182 .654 62.513 Other expejjdiknre T¢l¢phone (nel) Repairs and maintenance- r¢ntal properties Service ¢harges - r¢ntal properties Insurances - rental properties Postagc, printing and stationery Sundries and ballk charges 583 2,466 393 375 521 60 330 105 33 944 ExceptiouaVCapitAI expenditure Total payments SlW)I Net receipts for the year 44J14 67,705 Loan movement Cash and bank balances at l April 2023 333,948 266,243 Cash and bank balan¢es at 31 March 2024 378362 333,948
GLOUCESTERSHtRF. ISLAMIC TRUST STATEMENT OF ASSETS AND LIABILITIES AT 31 MARCH 2024 Page 5 2024 2023 Monetary Assets Bank and cash balances.. Nat West current account Nai West current a¢count-No.2 Nat West building r¢serve nd account Nat West Gold account Barclays deTlt account Cash in hand 310,350 67,445 20 (39) 414 72 283,597 49.882 20 (39} 414 74 Total for gcnergl purposes funds 378,262 333.948 Non-monetary Assets Cosilbook value In8ured value Land and buildings used by the Trust: Jama Al-Kartm Mosque (at Cost) 557,319 2,911.181 Assets held for functional use by the Trust.. Vari(yus furniturc and fixtures (net book value) 56J99 72,087 Other Assets Insured valuc Cost Freehold Land and Buildings.. 135 Barton Street 13 Goodyear Street 2E All Saints Road 46,555 27,530 500,000 345.000 138,735 545,632 The financial statements on pages 4 to 6 were approved by the Executive committee on 12th January 2025 and were si¥ned on its behalf by-. Mr S. Dadabhoy Chainnan ror and on behalf of thc Gloucestershire Islami¢ Trust
GLOUCESTERSHIRE ISLAMIC TRUST NOTES TO THE FINANCIAL ACCOUNTS Year ended 31 March 2024 Page 6 Accounting Basis The accounts have been prepared on a receipts and payments basis with a 51atement Of Assets and liabilities. Capital Expendlture The costs include £Nil {2023= £0) incurred on demolishing and clearing the Next door prOrtY. Pension A money purchase schetne is operated through the Pensions Trust's Growth Plan The Plan is a Tnulli-employer schem¢ and therefore it is not possible in the nornial COUTse of events io identify un a r¢asonable ai)d consistent basis th¢ share of the underlying assets and liabilities belonging to individual participatingp employ¢r5 Staff costs 2024 2023 Total ¢molument,8 paid to employees.. Wage5 and Salaries Social Security - employers Pension 35,894 33,778 1,073 1,022 36,967 34,800 Average nuMr of employees during the year: Building Fund Nat West bw"Idlng reserve fund account and Nat West No.2 Account The building funds were established by the Trustees to set asid¢ fundq for the purpose of ihe possible future renovation olproperty adjoining th¢ Mosque. Movements on the funds during th¢ year were as follows.. Balance at l April 2023 49.882 Income 18,745 Expenditure (1,182) Balance at 31 March 2024