ISLAMIC CENTRE (CENTRAL LONDON)
REPORT AND FINANCIAL STATEMENTS
10 JULY 2022
Charity No. 274284
ISLAMIC CENTRE (CENTRAL LONDON)
REPORT AND FINANCIAL STATEMENTS
10 JULY 2022
| Contents | |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | 3 |
| REPORT OF TRUSTEES | 4 |
| REPORT OF THE INDEPENDENT EXAMINER TO THE ISLAMIC CENTRE | |
| (CENTRAL LONDON) | 6 |
| STATEMENT OF FINANCIAL ACTIVITIES | 7 |
| BALANCE SHEET | 8 |
| NOTES TO THE ACCOUNTS | 9 |
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Legal and Administrative Information
Trustees Mrs. F Arif Mr. M Islam Mr. A Kazi Mr. H Zubair Principle office 10 Berwick Street London W1V 3RG Charity number 274284 Independent examiner Fraz Malik Chartered Accountant Upper Floor Flat, 156 Plashet Road London E13 0QT
Bankers Barclays Bank plc 27 Soho Square London W1D 3QR HSBC UK Bank Plc 26, College Road Harrow HA1 1HG
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Report of Trustees
The trustees present their report and financial statements of the Islamic Centre (Central London) (the charity) for the year ended 10 July 2022. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 to 12 and comply with the charity’s trust deed and applicable law.
Reference and administration details
These are set out on page 3.
Structure, governance and management
The charity is constituted under a trust deed dated 11 July 1977 and is a registered charity number 274284.
The trustees who served during the year and since the year are set out on page 3. Trustees are appointed by the existing trustees in a meeting and hold office until the appointment is terminated by the trustees or by resignation.
There were no custodian trustees.
Objectives and activities
The objects of the charity are for general charitable purposes, particularly for the care and support of the Islamic community of persons residing or working in central London.
In planning activities for the year, we have had regard to the Charity Commission’s guidance on public benefit. Our main activity remains the organisation of daily prayers and prayers on main Muslim festival days of the year. This provides a centre for prayers and worship for members of the Islamic community residing or working in central London.
The premises used for daily prayers are a conversion of a small shop, with a very narrow staircase. Unfortunately, we cannot accommodate women for prayers because, due to limitations in the size and layout of the building, we are unable to provide separate facilities for both men and women in compliance with local laws and with Sharia law. We keep this situation under review.
Achievements and performance
Following the COVID-19 pandemic and associated government restrictions throughout 2021 the Centre re-opened to the public in late July 2021.
Regular monthly donations have remained at a similar level to previous years. There has, however, been a reduction in daily collections with the closure of the Centre for the entire year, leading to a reduction in total donations in the year. This ensures that an appropriate level of funds is available for current and future maintenance work. There has, however, been a reduction in daily collections with the closure of the Centre for the entire year, leading to a reduction in total donations in the year.
Financial review
The charity is independent of any other charitable or political organisation and collects its funds entirely from voluntary donors. The trustees
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also acknowledge the valuable help of volunteers who assist in the collections from time to time. The donations received amounted to £27,547 (2021 - £24,362), which includes contributions from the trustees and gift aid. Total expenditure was £40,580 (2021 - £33,459). Total receivables were £1,023 (2021 - £410). The charity had a reduction in funds for the year of £13,033 (2021 – £9,097). There is annual planned maintenance for the building. The trustees endeavor to raise collections on this basis so that there are adequate funds to carry out the scheduled maintenance programme.
The charity has sufficient cash reserves to cover the ongoing management and administration costs for at least a period of 24 months from the reporting date.
Reserves policy
As the charity has no restricted or endowed funds it is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a minimum level equating to two to three months unrestricted expenditure. This provides sufficient cover for day-to-day management and administration costs of the charity. The charity does not make any grants to any individuals or institutions.
Statement of Trustees responsibilities
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each 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 the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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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 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 to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees for the purposes of charity law who served during the year and up to the date of this report are set out on page 3.
Approved by the trustees on 8th May 2023 and signed on its behalf by:
Name: Fatimah Arif Name: Humayun Zubair Trustee: Trustee: Date:10/05/2023 Date:10/05/2023
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Report of the Independent Examiner to the Islamic Centre (Central London)
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
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to state whether particular matters have come to my attention.
My examination was carried out in accordance with 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 the 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 statement below.
In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Fraz Malik 32 Arbour Close Barton Hills Luton LU3 4AQ Date: 10/05/2023
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Statement of Financial Activities
For the year ended 10 July 2022
| Notes Income from: Donations and legacies 2 Total Expenditure on: Charitable activities 3 Total Net loss Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
All Unrestricted funds 2022 £ All Unrestricted funds 2021 £ 27,547 24,362 |
All Unrestricted funds 2022 £ All Unrestricted funds 2021 £ 27,547 24,362 |
All Unrestricted funds 2022 £ All Unrestricted funds 2021 £ 27,547 24,362 |
|---|---|---|---|
| 27,547 | 24,362 | ||
| (40,580) | (33,459) | ||
| (40,580) | (33,459) | ||
| (13,033) - (13,033) 444,580 431,817 |
(9,097) - (9,097) 453,946 444,850 |
||
The charity does not have any restricted or endowed funds.
The charity made no recognised gains or losses other than those reported in the statement of financial activities.
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Balance Sheet
As at 10 July 2022
| Notes Fixed assets Tangible assets 7 Total fixed assets Current assets Debtors and prepayments 9 Cash at bank Total current assets Creditors:amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets Funds of the charity Unrestricted funds Total funds |
10 July 2022 £ 10 July 2021 £ 344,263 344,263 |
|---|---|
| 344,263 344,263 |
|
| 1,023 410 86,531 100,177 |
|
| 87,554 100,587 |
|
| - - |
|
| 87,554 100,587 |
|
| 431,817 444,850 |
|
| 431,817 444,850 |
|
| 431,817 444,850 431,817 444,850 |
The charity does not have any restricted or endowed funds.
Approved by the trustees on 8th May 2023 and signed on their behalf by
Name: Fatimah Arif Name: Humayun Zubair Trustee: Trustee:
Date: 10/05/2023 Date: 10/05/2023
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Notes to the accounts
1. Principle accounting policies
a) Basis of preparation and assessment of going concern
- The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued March 2018 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared under the historic cost convention.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
b) Income resources
The charities income is derived form voluntary donations only. It does not have any income from investment or endowment funds. Income is reported on a gross basis in the Statement of Financial Activity (SoFA). Incoming resources from tax claims on donations and gifts are included on the SoFA at the same time as the gift to which they relate.
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c) Expenditure
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Expenditure is included on an accruals basis. All expenses are incurred as management and administrative expenses, in keeping with the objective of the charity to run and manage the Islamic Centre (Central London). There are no other expenses.
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to expenditure.
d) Tangible fixed assets and depreciation
Assets that can be used for more than one year and exceed a cost of £ 250 are capitalised. They are valued at cost or a reasonable value of receipt. The charity does not have a policy of revaluation. Depreciation is not charged on freehold land and buildings. Depreciation is charged on fixtures and fittings, which are written off on a straight-line basis over an estimated useful life of 5 years.
e) Financial instruments
The charity only has several basic financial instruments; cash, debtors and creditors. Cash is measured at the amount of cash held. Debtors and creditors are measured at the amount receivable or payable including any related transaction costs.
f) Fund accounting
The charity has no restricted or endowment funds. Unrestricted funds compose those funds, which the trustees are free to use in accordance with the charitable objects.
2. Income from donations and legacies
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All incoming resources include entirely of voluntary donations collected throughout the year. These are included in the SoFA when:
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the charity becomes entitled to the donation or similar income and any conditions of receipt are met;
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the trustees have received it or are reasonably certain they will receive it; and
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the trustees are reasonably certain that the value can be reliably measured.
3. Expenditure
Expenditure on charitable activities is composed of the following:
| Salaries and wages Light, heat and water Insurance Repairs, renewal and maintenance Professional charges Total resources expended |
2022 2021 22,830 22,830 3,235 4,518 4,427 4,218 3,032 1,894 7,056 - |
|---|---|
| 40,580 33,460 |
Net incoming/(outgoing) resources is stated after charging the following:
| 2022 | 2021 | |
|---|---|---|
| Examiner’s remuneration | - | - |
| Other fees paid to the | - | - |
| examiner | ||
| Trustees remuneration | - | - |
4. Grants
The charity has not made any grants to either institutions or individuals.
5. Employee costs
| Gross wages and salaries National insurance costs Contribution to defined contribution pension Total staff costs Average number of employees in the year |
2022 2021 20,815 20,829 1,132 1,119 883 882 |
|---|---|
| 22,830 22,830 |
|
| 1 1 |
There were no employees who received emoluments of more than £ 60,000 in this year or the prior year.
6. Trustees and other related parties
Trustees were not reimbursed for any of their expenses in the year (2021 – £ Nil). There were no related party transactions in the year that require disclosure. None of the trustees have been paid any remuneration or received any other benefits from employment with the charity or a related entity.
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7. Tangible fixed assets
| Cost Cost b/f Additions Disposals Cost c/f Accumulated depreciation Balance b/f Additions Disposals Balance c/f Net book value Brought forward Carried forward |
Freehold Buildings £ Fixtures & Fittings £ Total £ 344,263 18,070 362,333 - - - - - - |
|---|---|
| 344,263 18,070 362,333 |
|
| Freehold Buildings £ Fixtures & Fittings £ Total £ - 18,070 18,070 - - - - - - |
|
| - 18,070 18,070 |
|
| Freehold Buildings £ Fixtures & Fittings £ Total £ 344,263 - 344,263 |
|
| 344,263 - 344,263 |
8. Investment assets
The charity does not have any investment assets (2021 - £ Nil).
9. Debtors and prepayments
| Prepayments Total debtors and prepayments 10. Creditors Accruals Total creditors |
2022 2021 1,023 410 1,023 410 |
|---|---|
| 2022 2021 - - - - |
11. Endowment and restricted funds
The charity does not have any endowment or restricted funds.
12. Movement of major funds
The movement of income funds is set out in the SoFA. There are no other major funds.
13. Other information
The charity does not have any material commitments not provided for in the accounts (2021 - £ Nil).
The charity has not given any guarantees to third parties that could be called upon at the year-end (2021 - £ Nil).
The charity has not granted any loans that are outstanding at the year-end and secured any of its assets (2021 - £ Nil).
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The charity has not granted any loans that are outstanding at the year-end to any institution or company connected with the charity (2021 - £ Nil). The charity did not make any ex-gratia payments during the year (2021 – £Nil ).
14. Declarations
The charity has no branches. The trustees have not changed the year end date or the length of the charity’s financial year.
The charity does not have any designated funds. All the charity’s operations are continuing operations and there were no operations discontinued or acquired during the year. The charity had no assets at the balance sheet date classified as inalienable or historic.
The charity has no intangible assets. None of the charity’s functional assets have been revalued during the year. The charity does not have any subsidiary companies.
The charity has no material fixed assets, which have not been capitalized and included on the balance sheet.
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Islamic Centre Accounts 2022 Draft
Final Audit Report
2023-05-09
Created: 2023-05-07 By: Fatimah Arif (fatimah-arif@smartestenergy.com) Status: Signed Transaction ID: CBJCHBCAABAAa87OaC-HzM65Lv-nDFo6kYSOgZ53uZC6
"Islamic Centre Accounts 2022 Draft" History
Document created by Fatimah Arif (fatimah-arif@smartestenergy.com)
2023-05-07 - 10:16:33 PM GMT
Document emailed to humayun zubairi (humayun@zubair.co) for signature 2023-05-07 - 10:18:55 PM GMT
Email viewed by humayun zubairi (humayun@zubair.co) 2023-05-09 - 7:18:01 PM GMT
Document e-signed by humayun zubairi (humayun@zubair.co) Signature Date: 2023-05-09 - 7:19:34 PM GMT - Time Source: server
Agreement completed.
2023-05-09 - 7:19:34 PM GMT