MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
CONTENTS
| Legal and administrative information | 1 |
|---|---|
| Report of the executive committee | 2 |
| Statement of responsibilities of the executive committee | 3 |
| Report of the Independent Examiner | 4 |
| Statement of financial activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the Financial Statements | 7 to 9 |
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024
TRUSTEES:
Tarek H. Sahebdin Goolam Hossen Assenjee Elias Hosany
EXECUTIVE COMMITTEE:
REGISTERED OFFICE:
| Chairman | – | H. Sahebdin |
|---|---|---|
| Ass. Chairman | – | H. Dowlut |
| Secretary | _ | A.K. Fakira |
| Treasurer | Z.A. Wahed | |
| _ | ||
| Members | – | S. Bocus |
| – | A. Elahee | |
| – | M. Kootbaully | |
| – | I. Parouty | |
| 49-51 Leswin Road | ||
| Stoke Newington | ||
| London | ||
| N16 7NX |
REGISTERED NUMBER: 289380 BANKERS: Barclays Bank PLC Wood Green Group of Branches PO Box 6370 London N22 6QQ INDEPENDENT EXAMINER: M. I. Mughal, BSc FCA
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31ST MARCH 2024
The Executive Committee present their annual report with the accounts of the charity for the year ended 31st March 2024.
CONSTITUTION AND OBJECTS
The Society is governed by a written constitution. The objects of the Charity are the advancement of Islam, in the United Kingdom, particularly but not exclusively, by the provision of a place of worship and study, creating facilities for other functions of a religious and cultural character, such as marriages, the performance of rites relating to deaths, social/cultural activities. The relief of poverty, the advancement of education and the protection of health and such other charitable objects as the Managing Body may decide from time to time.
RESULTS
The results for the year are shown on page 5.
RISK REVIEW
The Executive Committee have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. The systems, controls and procedures are periodically reviewed to ensure that they still meet the needs of the charity.
DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS
During the year:
-
Operated the centre for daily prayers (facilities for men & women).
-
The Committee members attended family matters, visiting the sick and elderly and bereaved families.
-
Funeral and Burial Service.
-
Classes: Arabic, Quran, Tajweed, Hifz for both men and women and first steps to Quran for sisters.
-
Distribution of free newsletter to members.
-
Ladies group meet once a month and functions held for members at large.
-
Refurbishment of the building.
-
Collection/distribution of zakaat to the poor & needy.
Approved by the Executive Committee on 07 April 2024 and signed on their behalf by:
H. Sahebdin - Chairman
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
STATEMENT OF EXECUTIVE MEMBERS' RESPONSIBILITIES
We are required under Charity law 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 its financial activities for that period. In preparing those financial statements we are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and estimates that are reasonable and prudent;
· Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The executive members are responsible for keeping proper accounting records which 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.
________
Sign on behalf of the Executive Committee H. Sahebdin - Chairman
Date: 07 April 2024
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM INDEPENDENT EXAMINER'S REPORT
Independent examiner's report to the executive committee
of Muslim Cultural Society of the United Kingdom
I report on the accounts of the Trust for the year ended 31st March 2024, which are set out on pages 5 to 9.
RESPECTIVE RESPONSIBILITIES OF EXECUTIVE MEMBERS AND EXAMINER
The charity's executive committee are responsible for the preparation of accounts. The charity's executive committee consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act
• to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act
- to state whether particular matters have come to my attention
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the 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 you as 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 next statement.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:-
· to keep accounting records in accordance with section 130 of the 2011 Act and
· to prepare accounts which accord with accounting records and comply with the accounting requirements of the 2011 Act
have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
_______ M. I. Mughal, BSc FCA Chartered Accountant 122 Hither Green Lane London, SE13 6QA
Date: 14 April 2024
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024
| INCOMING RESOURCES Members Subscriptions & Donations Income from Functions Rent Receivable Sundry Income (Refund) Total Incoming Resources RESOURCES EXPENDED Rates Light & Heat Telephone/Broadband Printing Postage & Stationery Donations Administrative/Caretaker Expenses Van Insurance Building Insurances Repairs, Renewals & Maintenance LBH (Waste) HMRC / Paye / Payroll Fees Social Functions (Note 8) Expansion Project (Note 9) Calendars & Newsletter Funeral Trust Bank / Supplier Charges Legal and Professional Fees Depreciation Freehold Property Depreciation Plant & Machinery Depreciation Office Equip. & Others Total Resources Expended NET MOVEMENT OF FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
£ - - - - - - - - - - - - - - - - - - - - - - - - - - - 5,206 5,206 Restricted funds |
£ 111,788 - - - 111,788 5,053 494 925 23,568 836 1,865 404 443 12,734 - 2,127 - 1,885 62 30 50,427 61,361 272,939 334,300 Unrestricted funds |
TOTAL 2024 £ 111,788 - - 111,788 - 5,053 494 - 925 23,568 836 1,865 - 404 443 - 12,734 - - 2,127 - 1,885 62 30 50,427 61,361 278,145 339,506 |
TOTAL 2023 £ 83,719 - - |
|
|---|---|---|---|---|---|
| 83,719 | |||||
| - 5,535 547 - - 12,864 730 1,768 - - 1,568 - 15,360 - - 1,809 - 1,885 77 38 |
|||||
| 42,182 | |||||
| 41,537 236,608 |
|||||
| 278,145 |
There were no recognised gains or losses other than those included in the statement of Financial Activities.
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
BALANCE SHEET
AS AT 31st MARCH 2024
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Debtors Graves Cash at Bank and in Hand 5 Amounts due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Accumulated Fund 6 Zakaat Fund 7 Capital Grant 8 |
2024 2023 £ £ £ £ 137,895 139,872 527 527 540 540 279,544 216,206 280,611 217,273 2,000 2,000 278,611 215,273 416,506 355,145 339,506 278,145 0 0 77,000 77,000 416,506 355,145 |
|---|---|
The financial statements were approved by the Management committee on 07 April 2024 and signed on their behalf by:
H. Sahebdin- Chairman
Z.A. Wahed - Treasurer
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st MARCH 2024
1) ACCOUNTING POLICIES
a. Basis Of Preparation
These Accounts have been prepared under the historical cost convention on a going concern basis and assume the continuation of financial facilities available to the Society. The accounts are in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities"(SORP 2005) issue in March 2005 and the Charities Act 2011
The Charity has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement on the grounds that it qualifies as a small charity.
b. Fund Accounting
The Charity's Unrestricted Funds consist of general funds which the Charity may use for its purposes at its discretion.
Restricted Funds are those where the donor has imposed restrictions on the use of the funds. Income arising on restricted funds and expenditure incurred in respect of these funds are reflected through the statement of Financial Activities with any surpluses or deficits being appropriated to/from restricted funds.
c. Depreciation
Depreciation is provided on the Assets of the Society at the following annual rates estimated to write off their costs over their expected usual lives:
Freehold Land & Building 1% - On Cost Plant and Machinery 20% - Reducing Balance Office Equipment & Other 20% - Reducing Balance
d. Grants
In these accounts, grants have been accounted for on a cash received basis. Consequently, grants that may have been approved in respect of the year under review but not yet received by the Muslim Cultural Society of the United Kingdom have not been brought into these accounts.
e. DONATIONS & SUBSCRIPTIONS
No provision has been made in respect of donation & subscriptions in arrear at the balance sheet date in view of the uncertainty as to whether these will be collected.
2) CHARITABLE STATUS
The Society is registered as a Charitable Institution under registration no. 289380.
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st MARCH 2024
3. DEED OF TRUST
The Properties known as 49-51 Leswin Road, Stoke Newington, London, N16 7NX is registered in the name of three trustees and are held in trust on behalf of the Society.
4. FIXED ASSETS
The Freehold Properties are held in trust on behalf of the Society by the trustees.
In 1986 a Motor Van was donated to the Society the cost of which is not reflected in the accounts.
Tangible Assets
| COST At 1st April 2023 At 31st March 2024 DEPRECIATION At 1st April 2023 Charge for year At 31st March 2024 Net Book Value At 31st March 2024 At 31st March 2023 MCS Bank Account (Barclays) Tarbeeyyah Bank Account (Barclays) Bank Account (Natwest) Cash in hand 5. CASH AT BANK AND IN HAND |
Plant & Machinery £ 14,280 14,280 13,972 62 14,034 246 |
Other Assets £ 20,136 - 20,136 19,984 30.39232 20,014 122 |
Freehold Properties £ 188,530 188,530 49,118 1,885 51,003 137,527 |
TOTAL £ 222,946 |
|---|---|---|---|---|
| 222,946 | ||||
| 83,074 1,977 |
||||
| 85,051 | ||||
| 137,895 | ||||
| 308 | 152 | 139,412 2024 £ 137,746 137,024 4,774 0 279,544 |
139,872 | |
| 2023 £ 95,543 115,962 4,702 0 |
||||
| 216,206 |
MUSLIM CULTURAL SOCIETY OF THE UNITED KINGDOM
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st MARCH 2024
6. ACCUMULATED FUND
| Balance Brought Forward Surplus/(Deficit) for the year 7. ZAKAAT FUND Balance Brought Forward Collection during the year Distribution during the year BALANCE CARRIED FORWARD |
£ 5,206 - 5,206 Restricted funds |
£ 272,939 61,361 334,300 Unrestricted funds |
TOTAL 2024 £ 278,145 61,361 339,506 2024 £ 0 - 0 0 0 |
TOTAL 2023 £ 236,608 41,537 278,145 2023 £ 0 - 0 0 0 |
|---|---|---|---|---|
8. SOCIAL FUNCTION AND REFRESHMENTS
Expenses incurred for social functions and refreshments include expenditure relating to Eid in the Park event, Eid gatherings and AGM.
9. EXPANSION PROJECT
Expenses incurred for expansion project, including expenditure relating to planning, complete refurbishment of both floors within 49 and 51, two new extensions and complete replacement of exisitng roofing on all buildings.
| Amounts due within one year Loan – Karz-e-hasana 10. CREDITORS |
2024 £ 2,000 2,000 |
2023 £ 2,000 |
|---|---|---|
| 2,000 |