**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|