The Khoja Shia Ithna Asheri (South London) Jamaat 26 Estreham Road | Streatham | SW16 5PQ T: 020 8769 7553 | F: 020 8696 0104 | A: 020 8769 0046 W: www.hyderi.org.uk | E: hyderi@hyderi.org.uk
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Registered Charity in the UK: 287686 1 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Contents | Page |
|---|---|
| Charity information | 3 |
| Report of the managing trustees | 4 - 8 |
| Independent auditors' report to the trustees | 9 - 10 |
| Statement of financial activities | 11 |
| Statement of financial position | 12 |
| Cash flow statement | 13 |
| Notes to the financial statements | 14 - 23 |
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)
CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2020
C�a��t� Reg�st�at�on N���e�
28��8�
�o�e�n�ng Do���ent
�he Constitution
Manag�ng T��stees
�resident �r �assanali �ew�i �ice �resident �a�erali �lidina Secretary �ohsin �saria �ssistant Secretary �assnein �ha�i �reasurer Salim �aster �ssistant �reasurer �ul�ar �ew�i �u�hi ���as �an�vani �ssistant �u�hi Neil Nasser �resigned 11 Novem�er 2020� �rustee �lira�a �anmohamed �rustee �ariam �assam Nominated �rustee �urta�a �ermali Nominated �rustee �ishaan �oledina
Reg�ste�e� A���ess �yderi Islamic Centre 2� �streham Road �ondon S�1� ��� Ban�e�s �S�C 11� �alham �igh Road �ondon S�12 9�S A���to�s �airman �avis �nit � ��hi�ition �ouse �ensington �ondon �14 8�� So����to�s �yman Solicitors �yman �ouse 104 College Road �arrow ��1 1��
Reg�ste�e� A���ess
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)
REPORT OF THE MANAGING TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The Managing Trustees have pleasure in presenting their annual report together with the audited financial statements of The Khoja Shia Ithna-ashri (South London) Jamaat (the Charity) for the year ended 31 December 2020. The Charity operates as Hyderi Islamic Centre (Hyderi).
The Trustees confirm that the annual report and financial statements of Hyderi comply with the current statutory requirements of the Charity's governing document and the provisions of the applicable charities Statement of Recommended Practice (SORP), UK Accounting Standards and the Charities Act 2011.
Structure, governance and management
The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi) is a registered charity (No: 287686). It is governed by the constitution adopted on 2 October 1983. A revised and updated constitution was approved by members on 16 November 2019. The Khoja Shia Ithna-Ashri (South London) Jamaat promotes and advances the Islamic religion in accordance with the principles of the Shia Ithna-Ashri faith. Its objectives and powers are set up in the constitution. It is managed by elected Managing Trustees who are responsible for the day to day running of the Charity.
Public Benefit Statement
The Managing Trustees have considered the general guidance on public benefit issued by the Charities Commission and have taken due regard of that guidance. The Managing Trustees consider that they are satisfied that the charity's activities do provide a public benefit.
Objectives and activities
The Khoja Shia Ithna-Ashri (South London) Jamaat's objective is to advance the religion of Islam and education, the provision of social and religious welfare activities and to provide relief of poverty among Shia Muslims.
a) Propagation of Islam
Propagation of Islam is the main activity of the Charity and this was carried out by arranging regular lectures at the Centre and arranging weekly religious programmes in English and other languages. Madressa classes were also held to teach Quran to students. From March 2020 when the lockdown started, all of these activities moved online.
b) Educational support
During the year, support was provided to various individuals and children were taught at the Hyderi Islamic school and Hyderi Nursery.
c) Social, religious and welfare activities
During the year, Hyderi organized various activities in celebration of Ramadan, Eid, Hajj and other Islamic festivals for members and new converts who have no affiliation with other Islamic communities. Counselling sessions were provided to those with marriage and family predicaments. Facilities for weddings and funerals are carried out throughout the year.
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Achievements and performance
The Charity continues to provide prayer facilities at the Centre to promote the Muslim faith to all age groups and to provide services to learn the teachings of the Quran. The Charity offers facilities to members to promote the Muslim way of life through guest speakers. The Charity continues to offer membership and burial facilities and receive income from its rental properties. The Nursery and Islamic schools for the children have been a successful furtherance of offering Islamic teaching. These achievements would not have been possible without the commitment and dedication of volunteers.
Objectives and Investment Powers
In order to meet the objectives, the Managing Trustees can secure the provision of Mosques and Imambaras (centres), provide and establish schools and education and provide other religious services. The Managing Trustees can raise funds for the upkeep, restoration and repair of the buildings used for this purpose and to provide other services to meet these objectives. Trust funds of over £10,000 can only be invested or utilized on a single project after the approval of the general body. The Managing Trustees meet every six weeks to discuss the activities for the operation of the Charity , however as a result of the shutdown due to the pandemic, six meetings were held during the year .
Appointment of trustees
The existing Managing Trustees were elected on 3 March 2019 to serve for a term of two years.
Related parties
The Charity does not hold assets on behalf of any another Charity, company or individual.
Results and Financial review
The results for the year are as shown in the financial statements. The statement of financial activities shows the incoming resources and the resources expended by the different activities conducted under the Charity's name. It also shows how the Charity's funds have been applied during the year. The gross receipts of the Charity were £3,9 33 , 0 32 (2019: £756,410). Of this £3,2 3 2,961 were restricted funds (£2,972,789 were donations for the purchase of Pioneer Place and these were subsequently transferred to the Fixed Asset Designated Funds and £260,172 were other restricted funds) and gross expenditure amounted to £6 32 , 351 (2019: £634,000). Of note is the gift aid receipt of £180,868. This has been largely due to claims on the donations for Pioneer Place.
At 31 December 2020, the balance on the restricted fund was £24,026 (2019: £7,101). As the Charity's income is dependent upon the goodwill of worshippers, the managing trustees are of the opinion that the level of direct activities should be proportionate to such income.
Our centre has been physically closed since March 2020 and this has had an impact on donations which normally come in during the holy month of Ramadhan and Muharram. The collections were much lower and while we have encouraged online donations as can be seen in the figures general funds, nyaz and ahlul bayt donations have all been much lower than in 2019. This has been matched by lower expenditure on nyaz, security and cleaning as well as utilities.
Covid-19
A decision was made at the outset of the pandemic to close the centre in order to protect the community especially with number of elderly members visiting the centre. The centre closed on 5 March and apart from a few nights during Muharram has remained closed since. At t he same time our
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Nursery was also was closed for nearly three months following guidance issued by the local authority All staff were furloughed during this time. The pandemic has affected the charity in a number of ways and these included the ability to collect donations as well as a move to provide all activities online.
Immediately the centre closed, all activities moved online and the functions for the holy month of Ramadhan and Muharram were successfully managed. In addition, the subcommittees all stepped up and moved to organise events via zoom. Burials were also transmitted via zoom to allow the community as well as family and friends to attend.
With the holy month of Ramadhan coming up we immediately took action and extended our online payment facility to now include the ability to pay by credit/debit cards in addition to Paypal. This proved useful as it enabled members to pay their burials subscriptions. We also encouraged members to donate and pay their subscriptions using these facilities as well as directly to our bank account.
We launched a Covid appeal and funds raised were used to help those in need. At the same time we collected provisions and distributed to those in the community who were in need as well as to neighbours.
During Muharram members were again urged to pay their subscriptions and donations online. The take up was very successful and this was very important as subscriptions make up some twenty percent of Hyderi’s income.
The Managing Trustees continue to monitor the finances of the charity and are of the view that there are sufficient reserves to manage the activities of the charity and that there are no cause for concern.
Fixed Assets
The changes in fixed assets are shown in the notes to the financial statements. During the year, the Charity purchased new premises (Pioneer Place) at a cost of £4.5m.
Investment Properties
Statement of Recommended Practice, "Accounting and Reporting by Charities" requires investment properties to be included in the financial statements at market value. The Investment properties were valued in January 2021 by an independent professional valuer SW17 Surveyors Limited. The updated valuations have been reflected in the financial statements.
Key management personnel remuneration
Trustees are required to disclose all relevant interests and register them with the Secretariat, and, in accordance with policy, withdraw from decisions where a conflict of interest arises.
Details of trustee expenses and related party transactions are disclosed in notes 19 and 20 to the accounts.
Risk Management
The Managing Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the operations and finances including fund raising and use of restricted funds. The
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Managing Trustees are satisfied that systems are in place to mitigate our exposure to these risks and the processes implemented are designed to minimize any potential impact on the Charity should any of these risks materialize.
Reserves Policy
The Managing Trustees have examined the Charity's requirement for reserves in light of the main risks to the organization and especially following the of the centre shutdown necessitated by the Covid 19 pandemic. It has established a policy whereby the unrestricted funds held by the Charity should continue to be a minimum of 3 months of the unrestricted expenditure of Hyderi only. This equates to approximately £56,279 (2019: £90,559)
Plans for the future
The Charity will continue to focus on promoting the advancement of the Islamic religion among the Muslims of the Shia Ithna-Ashri faith. Following the purchase of Pioneer Place, the Managing Trustees have established a Project Working Group to take forward plans to develop the site.
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the Trustees' 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 & Wales 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:
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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 judgments and estimates that are reasonable and prudent;
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue to operate in the future.
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. 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.
Disclosure of information to auditors
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
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Auditors
A resolution will be proposed at the Annual General Meeting that Fairman Davis be re-appointed as Auditors of the Charity.
Approved by the Managing Trustees and signed on its behalf by:
Secretary: Mohsin Asaria
Date: 3 February 2021
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INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE) FOR THE YEAR ENDED 31 DECEMBER 2020
We have audited the financial statements of The Khoja Shia Ithna-Ashri (South London) Jamaat for the year ended 31 December 2020 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.
This report is made solely to the charity's trustees, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Respective Responsibilities of Managing Trustees and Auditors
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and 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 been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the trustees' report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
In our opinion the financial statements:
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give a true and fair view of the state of the Charity's affairs as at 31 December 2020 and of its incoming resources, and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities and
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have been properly prepared in accordance with the Charities Act 2011.
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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 to report to you if, in our opinion:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit; or
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certain disclosures of trustees remuneration specified by law are not made.
ABDUL VIRJI (Senior Statutory Auditor) For and behalf of Fairman Davis Chartered Accountants & Statutory Auditors Unit 6 Exhibition House Kensington London W14 8XP
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
STATEMENT OF FINANCIAL ACTI�ITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes In�o�e �oluntary income 2 �undrasing income 3 Investment income 4 Charita�le activities income � Tota� �n�o�e E��en��t��e �undraising costs Investments management costs Charita�le activities costs �overnance costs Tota� e��en��t��e � Net income �ransfers �etween funds Net �o�e�ent �n ��n�s �unds �rought forward at the start of the year F�n�s �a���e� �o��a�� at t�e en� o� t�e �ea� 19 |
Un�est���te� F�n�s Rest���te� F�n�s Tota� F�n�s 2020 Tota� F�n�s 201� � � � � 3�4�0�1 3�232�9�1 3��8��012 342�308 1�92� - 1�92� 4�32� 93�880 - 93�880 89���3 2�0�214 - 2�0�214 320�024 |
|---|---|
| �00�0�1 3�232���1 3��33�032 �����10 |
|
| 1��31 - 1��31 ��4�� ��842 - ��842 - 33��0�2 243�24� ��9�309 �14��39 43���9 - 43���9 12�804 |
|
| 3���10� 2�3�2�� �32�3�1 �3��000 |
|
| 310�9�� 2�989��14 3�300��81 122�410 - - - - |
|
| 310���� 2������1� 3�300���1 122��10 4�12��8�� ��101 4�132�9�� 4�010���� |
|
| ���3���33 2������1� ���33���� ��132���� |
�he notes on pages 14 to 23 form a part of these financial statements
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020
| Notes | 2020 | 2020 | 201� | 201� | |
|---|---|---|---|---|---|
| � | � | � | � | ||
| F��e� assets | |||||
| �angi�le assets | � | ���92�409 | 1�2�1�43� | ||
| Investments | 8 | 2��90�101 | 2��90�101 | ||
| Tota� ���e� assets | ��3�2��10 | 3�8�1��3� | |||
| C���ent assets | |||||
| Stoc� | 9 | 3�129 | - | ||
| �e�tors | 10 | 30�1�8 | ��400 | ||
| Cash at �an� and in hand | 11 | 300�20� | 4�0�28� | ||
| Tota� ����ent assets | 333��03 | 4����8� | |||
| L�a����t�es | |||||
| Creditors� amounts falling due within one year | 12 | �3���3�� | ��2�8��� | ||
| Net ����ent assets | 2������ | 392�831 | |||
| Tota� assets �ess ����ent ��a����t�es | ������2�� | 4�2�4�3�� | |||
| Creditors� amounts falling due after more than one year | 13 | �1�24���28� | �121�400� | ||
| Net assets | 19 | ���33���8 | 4,132�9�� | ||
| T�e ��n�s o� t�e ��a��t� | |||||
| Un�est���te� ��n�s | |||||
| �esignated funds | 14 | 4�218��8� | 1�24���9� | ||
| �urial fund | 15 | 188��3� | 1����0� | ||
| �eneral funds | 16 | 1��1��211 | 1�329�2�2 | ||
| ��02���32 | 2��40���� | ||||
| Rest���te� ��n�s | |||||
| Revaluation reserve | 17 | 1�38��190 | 1�38��190 | ||
| �thers | 18 | 24�02� | ��101 | ||
| 1��0��21� | 1�392�291 | ||||
| Tota� ��a��t� ��n�s | 19 | ���33��48 | 4,132�9�� |
�he financial statements were approved �y the �anaging �rustees and signed on their �ehalf �y�
�resident� �r �assanali �ew�i
�on �reasurer� Salim �aster
�ate� 3 �e�ruary 2021
- �he notes on pages 14 to 23 form a part of these financial statements
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
CASH FLO� STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes | 2020 | 2020 | 201� | 201� | |
|---|---|---|---|---|---|
| Cas� ��o�s ��o� o�e�at�ng a�t���t�es | � | � | |||
| Net movements in funds | 3�300���1 | 122�410 | |||
| �d�ustments for� | |||||
| �epreciation of tangi�le fi�ed assets | 1��0�3 | 1��093 | |||
| Investment income | �93��8�� | �89���3� | |||
| Interest income | �193� | - | |||
| �Increase� in stoc� | �3�129� | - | |||
| �Increase���ecrease in de�tors | �24���8� | �1���9 | |||
| Increase in creditors | 1�098�109 | 24��44 | |||
| Net �as� �n��o� ��o� o�e�at�ng a�t���t�es | ��1�3�� | 22�8�3 | |||
| Cas� ��o�s ��o� �n�est�ng a�t���t�es | |||||
| Investment income | 93��8� | 89���3 | |||
| �urchase of tangi�le fi�ed assets | �4��3��028� | ���320� | |||
| Interest income | 193 | - | |||
| Net �as� (o�t��o�)��n��o� ��o� �n�est�ng a�t���t�es | (����2�1��) | 82�433 | |||
| C�ange �n �as� an� �as� e����a�ents �n t�e �ea� | (1�0�0�1) | 22���9� | |||
| Cash and cash e�uivalents at �eginning of the year | 4�0�28� | 222��91 | |||
| Cas� an� �as� e����a�ents at en� o� t�e �ea� | 11 | 300�20� | 4�0�28� |
�he notes on pages 14 to 23 form a part of these financial statements
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. General information
The Charity is a registered Charity in England and Wales and is unincorporated. The address of the Charity is 26 Estreham Road, London, SW16 5PQ.
2. 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)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011
The charity 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 note(s).
3. Accounting Policies
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Going concern
There are no material uncertainties about the Charity's ability to continue for the foreseeable future. The Trustees are therefore satisfied that the Charity has sufficient reserves to continue as a going concern for the foreseeable future.
3.3 Aggregate Accounts and Related Activities
The consolidated accounts include the results of the financial activities of Hyderi Jamaat, Hyderi Nursery School and Hyderi Islamic School prepared to 31 December each year. A consolidated Statement of Financial Activities, Statement of Financial Position and Cash Flow Statement at the year-end has also been prepared.
3.4 Freehold Land and Properties
During the year Hyderi purchased Pioneer Place. This is shown at cost as addition during the year. Hyderi follows a regular programme of refurbishment and maintenance of its freehold property which includes where necessary, the reinstatement of the fabric of the building in order to prolong its useful life without determinable limit. Such expenditure with the exception of an element of improvements is charged to the income and expenditure account in the year in which it is incurred. Accordingly, the Trustees consider that the life of the freehold property is such that its depreciation is not significant. Freehold land is not depreciated.
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3.5 Leasehold Land
This is an 80-year lease acquired on a plot In Section 2 of Rowan Road Cemetery of 236 reserved graves at £1,100 each at a total cost of £259,600. This is being depreciated at the rate of £1,100 per burial that takes place each year or a minimum of five burials. The cost of the land and the related liability has been reflected in the financial statements.
3.6 Other Tangible Fixed Assets
Other tangible fixed assets are stated at historical cost or valuation less depreciation. Depreciation is provided on all other tangible fixed assets at rates calculated to write off the cost, less estimated residual values of each asset over its expected useful life as follow
Fixtures and Equipment: 20 to 25% per annum by the reducing balance method. Tractor : 25% per annum by the reducing balance method.
3.7 Donated Tangible Assets
Donated tangible assets which can be valued are included in the financial statements at their estimated market value. Donated tangible assets that are impractical to value are not included in the financial statements.
3.8 Stock
Stock consists of coffins and other burial related supplies. These are charged as expenses based on usage. Other stock consists of books and toys. The financial statements do not include any stock of books and toys as these are replaced continuously. All such costs are charged as expenses when incurred.
3.9 Disbursements and Resources Expended
The disbursements of various funds received were made according to the Islamic laws, with the guidance and permission of our Marjah and as per the constitution of the Charity. Support costs are those incurred in connection with governance and administration of the Charity and in compliance with constitutional and statutory requirements.
3.10 Investment Properties
Investment property is included in the Statement of Financial Position at open market value. The value is generally established by reference to independent 3rd party valuations obtained by the Trustees. A full valuation was carried out in January 2021 by SW17 Surveyors Limited. The revaluation is reflected in the financial statements.
3.11 Restricted Funds
Restricted funds are funds which have restrictions imposed by the donors. These can only be utilized in accordance with the donors' wishes and are not available for any other use. Restricted funds also include amounts collected as agents.
3.12 Designated Funds
Designated funds are funds which have been set aside or utilized for a specific purpose and are not available for general use.
3.13 Income
These comprise income which is accounted for in the period in which it is received. Grants and Gift Aid are recognised when receivable and subscriptions for membership are recognised when
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received. Gift Aid received is treated as unrestricted income and utilised against the support costs of the charity.
All income is included gross and related expenditure is included as expenditure.
Investment income is included in the accounts on an accrual’s basis.
3.14 Deferred Income
Deferred Income is recognised in the period to which it relates.
3.15 Expenditure
Costs of generating funds are those costs incurred in furthering the aim and objects of the charity.
Governance comprises the costs of compliance with constitutional and statutory requirements and costs related to the strategic management of the charity.
Support costs are costs which are common to a number of activities and are charged to activities on the basis of a proportion of the use of the resource to the charitable activity.
In accordance with the Charities SORP (FRS 102), the general volunteer time of members and trustees is not recognised. The Trustees’ annual report includes more information about their contribution.
3.16 Donated Services
No amounts are included in the financial statements for services donated by volunteers because these amounts cannot be quantified with reasonable accuracy.
3.17 Support cost
The number of staff involved in an activity is deemed to be the appropriate basis for allocating support costs as it closely reflects the resources usage of the support functions of the core activities.
3.18 Taxation
As the Charity is not registered for VAT, all costs shown are inclusive of VAT. No provision has been made for corporation or deferred tax as Hyderi is a registered charity and exempt from tax.
3.19 Financial instruments
The Charity has no Financial Instruments.
3.20 Pensions
Employees of the Charity are entitled to join a defined contribution. The charity contribution is restricted to the contributions disclosed in note 6b. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within staff costs.
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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 2 �o��nta�� �n�o�e �eneral �unds Nya� � �a�lises �hl-ul-�ayt ���S� �ift aid ta� income �ioeneer place donations Special activities income �urial su�scriptions Religious�relief activities �nnouncements Su�scriptions received 3 F�n��as�ng �n�o�e Shop income�canteen �etting�hire income �In�est�ent �n�o�e Interest received Rental income �C�a��ta��e a�t���t�es �n�o�e �ees received �rants received Special activities |
Un�est���te� F�n�s Rest���te� F�n�s Tota� F�n�s 2020 2019 Tota� F�n�s � � � � ���18� - ���18� �0�909 ��223 - ��223 �1�41� 11�882 - 11�882 29��02 180�8�8 - 180�8�8 3��849 - 2�9�2��89 2�9�2��89 - ��2�0 - ��2�0 - 49��80 - 49��80 3���00 - 2�0�1�2 2�0�1�2 �9�01� 2�22� - 2�22� 3�308 41�828 - 41�828 44��0� |
|---|---|
| 3�4�0�1 3�232�9�1 3��8��012 342�308 |
|
| 1���1 - 1���1 4�32� 3�� - 3�� - |
|
| 1�92� - 1�92� 4�32� |
|
| 193 - 193 - 93��8� - 93��8� 89���3 |
|
| 93�880 - 93�880 89���3 |
|
| 112���2 - 112���2 13��028 13��9�2 - 13��9�2 1�2��8� 480 - 480 31�411 |
|
| 2�0�214 - 2�0�214 320�024 |
17 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| �Tota� e��en��t��e Charita�le activities costs - Religious activities - Nya� � �a�lises - �urial payments - Secular education �undraising costs Investments management costs �overnance costs �a S���o�t �osts �eat� light � water Rates Insurances Repairs � maintenance �oys�activities �ood �elephone��road�and S�S �ostage Stationery �rinting�photocopying �oo�s �e�site �epreciation �an� charges Card charges ��Sta�� �osts Salaries and wages Salaries and wages - reclaim ������mployer NI �ension contri�utions Sta�� N���e�s �he average monthly num�er of employees� �anagement �reaching � �ecturing Nursery Staff |
D��e�t �osts S���o�t �osts Tota� 2020 Tota� 201� � � � � 142�834 4���12 189�44� 38���04 ��121 - ��121 83�492 2����2 - 2����2 ��013 101�1�2 11���1 112�943 13���30 |
D��e�t �osts S���o�t �osts Tota� 2020 Tota� 201� � � � � 142�834 4���12 189�44� 38���04 ��121 - ��121 83�492 2����2 - 2����2 ��013 101�1�2 11���1 112�943 13���30 |
|---|---|---|
| 2�����9 �8�383 33��0�2 �14��39 1��31 - 1��31 ��4�� ��842 - ��842 - 43���9 - 43���9 12�804 |
||
| 330��21 �8�383 389�104 �34�000 |
||
| 2020 201� � � 9�9�4 1���12 4� ���22�� ���98 3�149 14�2�9 1���3� 4�1 1�131 1�91� 2�2�� 1�4�4 2�431 �00 - 32� 8�4 �34 413 �19 - 200 2�382 �9� 288 1��0�3 1��093 1�2�1 2�21� 3�40� 1�443 |
||
| �8�383 �9��80 |
||
| 2020 201� � � 1�1��49 1���0�1 ��1��04� - 4�94� 4�941 2�339 2�080 |
||
| 12��131 183�082 |
||
| 2020 201� 2 1 1 1 14 14 |
||
| 1� 1� |
Staff costs have �een allocated to direct charita�le e�penses� No employee received remuneration amounting to more than ��0�000 in either year
| ���o�e�nan�e �osts �egal�professional fees �udit � accountancy costs Su�scriptions paid |
2020 201� � � 3��042 ���34 3�000 3�000 3��2� 3�2�0 |
|---|---|
| 43���9 12�804 |
18 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| �Tang���e ���e� assets Cost o� �a��at�on � �s at 1 �anuary 2020 �dditions �isposals As at 31 De�e��e� 2020 De��e��at�on � �s at 1 �anuary 2020 Charge for the year �isposals As at 31 De�e��e� 2020 Net Boo� �a��e � As at 31 De�e��e� 2020 �s at 31 �ecem�er 2019 �F��e� asset �n�est�ents �i�ed asset investments Ot�e� �n�est�ents �yderi Nursery �td �yderi Islamic School Ma��et �a��e at 31 De�e��e� �Sto��s �pening �alance �dditions during the year �sed during the year Closing �alance 10 De�to�s Recovera�le gift aid �ther �e�tors �repayments and accrued income 11 Cas� an� Ban� Current and deposit accounts �etty cash |
F�ee�o�� P�o�e�t�es Lease�o�� Lan� F��t��es � E�����ent Moto� �e����es Tota� � � � � � 1�0����01 2�9��00 3�9��42 - 1��0��043 4��2��4�� - ��000 ����1 4��3��028 |
F�ee�o�� P�o�e�t�es Lease�o�� Lan� F��t��es � E�����ent Moto� �e����es Tota� � � � � � 1�0����01 2�9��00 3�9��42 - 1��0��043 4��2��4�� - ��000 ����1 4��3��028 |
|---|---|---|
| ���02�1�� 2����00 3�����2 ����1 ��2�2�0�1 |
||
| - 10���00 32��909 - 434��09 - ���00 9�3�� 18� 1��0�3 |
||
| - 112�200 33��2�� 1�� ������2 |
||
| ���02�1�� 1����00 3����� ��3�� ����2��0� |
||
| 1�0����01 1�2�900 41�834 - 1�2�1�43� |
||
| 2020 2019 � � 2��90�000 2��90�000 100 100 1 1 |
||
| 2���0�101 2��90�101 |
||
| 2020 2019 � � - - ��888 - �3���9� - |
||
| 3�12� - |
||
| 2020 2019 � � 2��018 - 2�200 ��400 1�9�0 - |
||
| 30�1�� ��400 |
||
| 2020 2019 � � 299���2 433�8�1 444 1��42� |
||
| 300�20� 4�0�28� |
19 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 12 C�e��to�s� A�o�nts �a���ng ��e ��t��n one �ea� �a�ation and social security �ccrued e�penses �eferred Income SCI �unerals �imited �Note 13� 13C�e��to�s � A�o�nts �a���ng ��e a�te� �o�e t�an one �ea� SCI �unerals �imited �alance at 1 �anuar �ayments in the year �alance at 31 �ecem�er �ess� �ue within one year �Note 12� SCI �unerals �imited �alance �ther creditors� Ba�an�e ��e a�te� �o�e t�an one �ea� at 31 De�e��e� |
2020 2019 � � 2�818 11��84 1���1� 1���3� 40��39 ���00 ���00 |
|---|---|
| 3���3� �2�8�� |
|
| 2020 2019 � � 12��900 132�400 �13�100� ����00� |
|
| 113�800 12��900 ����00� ����00� |
|
| 10��300 121�400 1�13��328 - |
|
| 1�2����2� 121�400 |
� �hese are private loans received from community mem�ers� �hese loans are interest free and have repayment terms of �etween twelve and thirty si� months�
20 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 14 Des�gnate� ���e� asset ��n� �alances at 1 �anuary 2020 �ioneer �lace donations Ba�an�e at 31 De�e��e� 2020 15 B���a� ��n� �alance at 1 �anuary 2020 Received during the year �ayments for �urials of scheme mem�ers Ba�an�e at 31 De�e��e� 2020 16 �ene�a� ��n�s �alance at 1 �anuary 2020 17 Re�a��at�on �ese��e Investment properties |
F�ee�o�� P�o�e�t�es In�est�ent P�o�e�t�es F��t��es � E�����ent Tota� � � � � 921��1� 224�4�1 99�831 1�24���9� 2�9�2��89 - - 2�9�2��89 3�����30� 22����1 ����31 ��21����� 2020 2019 � � 1����0� 13��920 49��80 3���00 �2����2� ���013� 1����3� 1����0� Ba�an�e In�o�e E��en��t��e T�ans�e�s Ba�an�e 01�01�2020 31�12�2020 � � � � � 1�329�2�2 �00�0�1 �389�104� - 1��40�239 1�32��2�2 �00�0�1 �389�104� - 1���0�23� Ba�an�e Fa�� �a��e �a�ns T�ans�e�s Ba�an�e 01�01�2020 31�12�2020 � � � � 1�3���1�0 - - 1�3���1�0 1�3���1�0 - - 1�3���1�0 |
|---|---|
21 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 18 Rest���te� ��n�s - Ot�ers H��e�� - Inte�na� �husal �afan Sports - �ents Sports - �adies �adressa �a�let pro�ect Covid �und �arsa �uneral Service Tota� - Inte�na� E�te�na� Imaan �rust �a�ligh Ramadhan relief �l �yn �sse� �amat �idya �itra �affara �hums - Sehme Imam�� �hums - Sehme Sadaat �oor� �idows � �rphans Radde �a�allim �elfare �und�Sad�a �ho Is �ussain �� �id �aina�iya Child Sponsorship Tota� - E�te�na� Tota� Rest���te� F�n�s |
Ba�ance Ba�an�e 01�01�2020 In�o�e E��en��t��e T�ans�e�s 31�12�2020 � � � � � 4��3� ��309 �2��44� - 9�402 3�409 - �3�12�� - 284 �1�03�� - - - �1�03�� - 2��20 - - 2��20 - 4����3 ��1�49�� - �4�833� - ��890 ���800� - 2�090 - 2�10� �2�10�� - - �8����� 18�32� �11�324� - �1���4� |
|---|---|
| (1����) ����13 (���3��) - ����� - 4�000 �4�000� - - - 1�198 �1�198� - - - 1�844 - - 1�844 980 10� - - 1�08� 1�1 - �1�1� - - - �30 ��30� - - - 3��92 �3��92� - - - 210 �210� - - 2��81 88��1� �91�298� - - 11� ���0�9 �����09� - 9�4�� 1�220 34� �800� - ��� � �0 ���� - - 3�419 ��94� ���4��� - 3�890 �10�� 300 �19�� - - 120 130 �2�0� - - ��0� 100 ��0� - - |
|
| ����� 1���2�� (1�����3) - 1��0�2 |
|
| ��101 2�0�1�2 (2�3�2��) - 2��02� |
��In line with the I�a�a o�tained from our �ara�a's office and the donors wishes� these funds have �een transferred to property donations for the purchase of �ioneer �lace�
22 of 23
THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 19 Ana��s�s o� net assets �et�een ��n�s Un�est���te� F�n�s �esignated �unds �i�ed �ssets �unds� �urial �und �eneral �unds Rest���te� F�n�s �thers Revaluation reserve Tota� F�n�s |
Ba�an�e In�o�e E��en��t��e T�ans�e�s Ba�an�e 01�01�2020 31�12�2020 � � � � � 1�24���9� 2�9�2��89 - - 4�218��8� 1����0� 49��80 �2����2� - 188��3� |
|---|---|
| 1�411�404 3�022�3�9 �2����2� - 4�40��221 1�329�2�2 ��0�491 �3�2���2� - 1��1��211 |
|
| 2��40���� 3���2�8�0 �389�104� - ��024�432 ��101 2�0�1�2 �243�24�� - 24�02� 1�38��190 - - - 1�38��190 |
|
| 1�392�291 2�0�1�2 �243�24�� - 1�409�21� |
|
| ��132���� 3��33�032 (�32�3�1) - ���33���� |
��roperty donations received for �ioneer �lace have �een transferred to �esignated �i�ed �sset �und.
20 T��stees
�he trustees received no remuneration for services provided to �yderi �2019� Nil�� No trustees received reim�ursement fo costs for attending meetings or travelling costs in the year �2019� Nil��
21 Re�ate� Pa�t� T�ansa�t�ons
�yderi is a mem�er of a regional council� �he Council of �uropean �amaats �C����� which represents �yderi at the glo�al level through �he �orld �ederation of �ho�a Shia Ithna-�shri �uslim Communities� �oth these Charities are registered with the Charities Commission in the �� and represent �yderi when dealing with international aid and relief wor��
�ost of the e�ternal restricted funds collected �y �yderi are channelled through C���� �uring the year� the e�ternal restricted funds of �19���3 �2019 - �39�8�9� were remitted to C���� �48�104 �2019� Nil� were remitted to the �orld �ederation and �9��0� �2019� Nil� to �lul�ayt �oundation�
23 of 23