REGISTERED CHARITY NUMBER: 291089 REPORT OF THE TRUSTEES AND FINANC STATEMENTS FOR THE YEAR EDED 31 MARCH 2023 FOR MADtNA MOSQUE TRUST Prestons & Jacksons Partnership LLP Statutory Auditors 364- 368 Cranbrook Road Ilford Essex IG2 6HY
MADINA MOSQUE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page Report of the Trvstees Report of the Independent Auditors 6 to 8 Statement of Financial Activitie5 Balance Sheet io Notes to the FiDaneAal Statements 11 to 18 Detailed StatemeDt of Financial ActSvities 19 to 20
MADINA MOSQUE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The tnjstees present their report with the fm8ncial ststement5 of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting alld Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finan¢ial Rcporting StandaTd applicable in the UK and Republic of treland (FRS 102) (effective l January 2019). OBJECTWES AND AIVITIEs Objectives and 4lms To advancc the religion of Islall4 by means of, but not exclusive to. promoting the teachings and tenets of Islw in accordance with the su11 Hanafi School of Thought. pmvision of facilities for worship, and provision of facilities for Islamic cducatio4 the public ¢¢lebration of Teligious festivals and the distribution of literath on the Islamic faith to enlighteu others. To promote any other charitable purposc for the benefit of MusliD]s and wider community. Our aim is to provide a facility where Muslims Can worship and to provide a Community facility for all the community of Clapton. Our long-ternl atnbÈtion is to belp make our area a peace1, vibrant and bam)onious con)munity. Public Benefits The trustees confwm that they have complied with the duty ill section 4 of the Charities Act 2006 to have due regard to public benefjt guidance published by thc CommÈssion in detenniDing the activites undertaken by the Charity. Page I
MADINA MOSQUE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 OBJECTIVES AND ACTIVITIES Significant activities and Publfic BeDefits The charity carries out a wide range of activities in pursuance of ils charitable aims. Th¢ trustees consider that these activities. summarized below. providc bcnefIt both to our students and the wider community of Clapton. London. Chfildren's Classes: The charity operates Supplementary School classes on the weekdays catering for approximately 200 students rattging between thc ages of 5 _ 16. Hifdh Classes (Qur'an Memorlsation Programme): Memorisation of the Qur'an is considered an important element of religious education and training and th¢refore we ¢olltinue to provide this facility for our stydents. We currently have approximately 20 students enrolled onto this proaMMe. Hifdh Graduatlon: we held a graduation ceremony lo celebrate Ihe marvellous achievement of a student in cornpleting the memorisation of the Qur'an, which was attended and enjoyed by more than 300 people. Ramadan Nlght Prayers (T2rawih): Two of our Qur'an memorisation prograll]me students lead a large congregation in nightly prayers impeccably for the full month of Ramadan. Many within the congregations were impressed by the quality of their recitation and the strength of theiT memotisation, despite th¢ir young age. Throughout Rallth, we held Ift meals in the Masjid. This provided great support to the ov¢rsea students and asylum seekers. Educational Programmes: At the trust, we hold monthly educational programmes for the students who have left the cl&sses. Evenlng Adult Classes: We also operate num¢rous classes for both male alld female adults withia the Collllnunity tailored to their requirements and n¢cds. These illclude beginner Qur'an classes for adults and other classes focusing 00 other sciences Marriage and burial Services We provide marriage and burial services. Strategles We want to make our Mosquc an a¢¢essible and welcoming venue where all Muslims, or those who wish to know more about our faith cat7 gather together to learn about their religion and worship. The Mosque is open at all times with daily prayers, the Friday prayers being a focus of our activities. An inOrtallt part of our strategy is COD)munity welfare and education. All our community facilities and activitics inGluding classes and semillars are advertised and we welcorne the participation of all in our local community. Volunteers Most of the charitys activities involve volunteers in the delivery of its activities. We ar¢. as always. grateful to these volwiteers in making the activkties of our centre a spiritual and pleasant experience for the publi¢. Page 2
IWINA MOSQUE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 FINANCIAL REVIEW Reserves policy Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expendits¢. The tsust average monthly spendillg was £23,905 {2022.'£18.570) per month during year ended 31st March 2023. The tntee5 consider that the ideal level of reserves would cover six rnonths spending which is approximately £147.336 {2022.. £111,000). The current reserves come to £6,423,178 (2022.. £6,058,759) witb Cash at ballk of £198,252 (2022.. £186.959) at the year end 31 March 2023.Th¢ trustees consider the trust is in a healthy position to continue support the charity objectives. Going eollcern The trustees consider the charity to have sufficient fimds to continue in operations for a period of hvelve months. The trustees therefore consider the charity to be a going ¢oncern. STRUCTURE, GOVERNANCE AND MANAGEMENT Governfillg docuDJent The charity is rest6rCd as a Cbarity with Charity Con)mission for England and Wales. The charity is governed by trjstees alld the executive ¢ommittee, EEJade up of tbe tswtees and tbe management comrnittee. who are responsible for the ¢ffective n]anagem¢nt of the organisation. Meetings are held on a regular basis. Recrultment and appointment of new trustees The existing tnte¢S are responsible for the reCruitnnt of new trStees. In selecting new stee$. we seek to identify people who aTe wmmitted individuals whose views arc aligned to the ¢barity's vision in addition to being ablc Éo offer relevant sktlls and ¢xp¢rienc¢. Potwtial tswtees are invited to attend trustees, meetings to meet the trustees and have an infornml interview and are given more detsils about the charity's aims and activities and. if all agree, they are then proposed as new trteeS at the subsequent trnst¢¢s' m¢eting. This process allows due consideration of the person's ellbility. personal competence, specialist knowledge and skills. Organisgtional struethTe The charity trustees are rcspollsible for the general control alld management of the c]wity. The trustees meet together as a body and are responsible foT the overall governance. The management colnmittee oversccs the maDagement and day to day rullniThg of the charity. To organise the gov¢rnall¢e of the charity, the trustees are in the process of settiug up a number of sub-committees to delegate key areas of responsibility. Th¢ day-t041ay management of Seven kings Muslim Educational Trust and ailministration of the projects are controlled by the management committee. REFERENCE AIYD ADMINISTRATIVE DETAILS Registered Charity number 291089 Page 3
MADINA MOSQUE TRUST REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 MARCH 2023 Principal address 2a Leabridge Road Clapton Lolldon E5 9QD Trustee5 Abdul Hai Saccha Sabbir Baiyat Yusuf Ali Mallgera Adam Varachia Ebrahim Patel Mohatned Suleman Pirbhai Abdul Rabrn Patel Sabbir Patel Yusuf Hajat Mawagement Commlttee Gulam Hussain Mangcra (Chairmall) Ilya5 Anish Lakhi BadTe-Alam Laher (SecTetary) Zakanya Ahmed sulelln Ahmed Pafrl (TTcasurer) M. Salim Patel Abdu] Sattar Kaji Isbaq Anis Lakhi Saeed Ajllned Ravat Zaid Patel Ismail MohatDJned Patel Auditor5 Prestons & Jacksons Parthership LLP .Statutory Auditors 364 - 368 Cranbrook Road Ilford Essex IQ2 6HY STATEMEIYT OF TRUSTEES, R£SPOIYSIBILITIES The trustees are responsible for preparing the Report of the Tntstses and the financial statcments in accordallce with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi¢e). Page 4
MAI)INA MOSQUE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued The law applicable to charities iu EDglalld and Wales. the Chariti¢s A¢t 2011, Clwity {Accounts and Reports) Regulations 2008 and the provisions of th¢ trust deed requires the ttustees to prepare financial ststements foi ¢&ch financial year whicb give a true and fair view of the state of affairs of tbe Charity and of the incoming resources and application of resources. includillg the income and expendIre. of the charity for that period. In preparing those financial ststenkents, the (Thstees are required to select suitable accounting policies and then apply them ¢onsistently) observe the methods and principles in thc Charity SORP. make judgem¢ut5 and estimates that are reasonable aud prndent. prepare th¢ f)cial statetlleDts on the going concern basis unless it is inappropriate to presume that tbe chxrity will continue in business. The trustees are responsible for keeping proper a¢counting record8 which disclose with reasonable accutacy at any tivne the financial position of the charity and io enable them to ensuT¢ that the financial 5tatem¢nts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 aud the provisions of the trnst deed. Tbey are also r¢spoDsible for safeguardiTrg the assets of the charity and hence for taking r¢asonable steps for the prevention and detection of fraud and other iegularItieS. Approved by order of the E*)ard of tStee5 on ...... .. . . aud signed on its behalf by.. Trnstee Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MADINA MOSQUE TRUST Opinlon Wc hav¢ audited the fan¢)41 statements of Madina Mosque Trnsl (the 'charity') for the year ended 31 March 2023 which comprise th¢ Statement of Financial Activilies, the Balance Sheel and notes to th¢ flljallcial statem¢nts, including a sun]mary of signifi¢ant accountiag policies. The financial reporting framework that has been applied in their preparatiotl is applicable law alld United Kingdom Accowjting Standard5 (United Kingdom Generally Accepted Accounting PEactt'ce). In our opinion the financial statetnents: give a true and fair view of tb¢ slate of the cbarity's affairs as at 31 March 2023 and of its incoming resources and application of TOUrces, for th¢ year then ¢Ddcd,. hav¢ been properly pr¢pared in a¢¢oidance with United Kingdom Generally Accept AccouDting Practice. and hav¢ becn prepared in accordance with th¢ requirem¢nts of the Charities Act 2011. Basis for opiDlon We conducted our audit in accordance with JnternationaL standds on Audi¢ing (UK) (ISAS IUK)) and applicable law. Our responsibilities Ullder tbose stalldards further described iti the Auditors, responsibilities for th¢ audit of the f]nancial statements section of our report. Wc ar¢ independent of the charity ill accordance with th¢ ethical requirements that are relcvant to our audit of the fjnancial slatem¢nts in the UK, including the FRC'S Ethi¢al Standard, and we have lfilled our other ethical responsibilities in accordance witb th¢5e requirements. We beli¢ve that the audit ev?dence we have obtained is sufficiellt alld appropriate to proYAde a basis for our opxnion. Conclusions relating to going concern In auditing the financial statemcnts, we bave concluded that the trustees, use of the going concern basis of accounting in the preparation of the finallcial ststements is appropriate. Based on the work we have Perfornd. we have not identified ally material uncertaxnties relating to events or conditions that, individually or ¢ollectiYely. may cast significant doubt on the chaTity5 ability to con¢inue as a going Concern for a period of at least twelve molltb5 from when the fmancial statetnents are authorised for Issue. Our responsibilities and the responsibilities of the ttwtees with respeot to going concern are described in the relevant s¢ctions of tbis Teport. Other iDformatlo The tSteeS are responsible for the otber inforn]ation. The other inforntIon compris¢s the infornmtion included ill the Annual Report, other than th¢ financial statements and our Report of the Independent Auditors thereon. Our opillion on the fin2ncial statements does not cover the other i]Jfonnation and. except to the extent otberwise explicitly stated in our reporL we do not express any forni of assurao¢e conclusion thereon. Jn connection with our audit of the financial statements, our responsibility is to Iead the other inforniation and. in doing so, consider whether the other inforn]ation is materially inconsistent with the financial ststcmellts or our knowledge obtained in the audit or othenvisc appears to be matlalIY misstated. If w¢ identify such n)aterial in¢on51Stencies or apparent ]naterial mIsstate¢tS, we are requ2r¢d to detern)ine whether this gives rise to a material misStateet in the finallcial statements themselves. If. based on the work we have performed. wc couclud¢ that there is a material misstatement of this other infornrdtion, we aTe requircd to r¢port that fact. We bave noihing to report in this regard. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF IVIADINA MOSQUE TRUST Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opiDion= the inforn]ation given in the Report of the Trustees is inconsistent in any material respect witb the financial slalcments. or sufficient accounting Tecor¢l8 have not b¢en kept- or the financial statements are not in agreemeut with the accounting records and returns" OT we have not received all the inforniation and explanations we require for our audit. Responsibllltles of trustees As explained morc fully Én th¢ Statement of Tnjslees, Responsibilities, the trustses are responsible for the preparation of the financial statements which give a trne and fair view. and for su¢h intsrnal control as the ]stees determine is necessary to enable th¢ preparation of finan¢ial statements that are free from material mi5Statemen¢ whether due to fraud or error. In preparing the fillancial statem¢nt4 tbe trnstees are Tesponsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable. matt¢rs related to going ¢on¢ern and using the going oncern basis of accounting unless the trustee8 either intend to liquidate the charity OT to cease operations, or bave no realistic alternative but to do so. Our responsibilities for the audit of the finallcial Statements We hav¢ been appoinled as auditors under Section 144 of the Charities Act 201 l and report in accordance with the Act and relevant regulations llde or baving cffect thereunder. Our objectives are to obtain reasonable assurance about wbether the financial statements as a whole are free from material misstatemenL wheth¢r due to fraud or erTor. and to issue a Report of the Independent Auditors that includes our opinion. Re&soJ)able assurance is a higb level of assurance, but is not a guarantee that an audit conductcd in accordance with ISAS IUK) will always detect a material misstatement when it exists. Misstatetnents can arise from fraud or error and are considcrcd tnaterial if, individually or in thc awegate. they could reasonably be expect¢d to influence the economic d¢cisions of users taken on the basi8 of these fJJ]allcial statements. Th¢ ¢xtent to wbich our procedures ar¢ capable of detecting irregulariti¢s , including fraud is detailed bclow. IrT¢gulaTities. including are instances of non-c0mpliaee w2th law5 and regulations. We design procedure in line with our responsibilitics, outlined above, to detect material rni55tatements in respect of ]egularItIeS, including fraud. We obtained understanding of the legal and regulatory framework applicable to the eEEtity and how it cotnplies with framewoTk by discussing with senior uwiagement and checking compliance with the regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Rcporting Council's websÈte at www.fr¢.or&uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MADINA MOSQUE TRUST Use of our report This report is mad¢ solely to the charitys trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work ha5 been undertaken so that we might state to the charity's trustees those matters we are required to state to thern in an auditors, report and for no other purpose. To thc fullest extent pern)itt¢d by law. we do not accept or assume responsibility to anyone other than the charity aLd the charity's trustees as a body. for our audit worl for this report, or for thc opinions we have formed. Prestons & Jacksons Partyership LLP Statsltory AuditOTS 364 - 368 Cranbrook Road Ilford Essex IG2 6HY Page 8
4DIIVA MOSQUE TRUST STATEMENT OF FINANCIAL AcrtVlTIES FOR THE YEAR ENDED 31 MARCH 2023 31.3.23 Totsl funds 31.3.22 Total filnds Unrestricted Restricted fiu]ds fiwd Notes INCOME AND ENDOI*TrIENTS FROM Donatiolls and legacies 6A638 66,638 70.183 Other trading activities Invesknent inconle 107J96 149,800 107J96 149,800 95.695 134.434 Total 323,834 323,834 300,312 EXPEIYDITURE ON Raising funds Other tradtng activities Investment management C08ts 9,677 4J75 9,677 4,375 13,364 4,325 14.052 14,052 17,689 Charitable activitieg Administration Charitable Activities 7,061 266,115 7,061 266,115 6,839 194,226 Totsl 287228 287,228 218.754 IYET INCOME Other re¢o%nised gaknslOosses} Gains on revaluation of fixed assets 36.606 3Q6O6 81,558 327,813 327.813 I,ioo,000 Net movement Ill funds 364,419 364,419 E,181,558 RECONCILIATION OF FUNDS Totsl fidS brought forward 058,759 6,058,759 4.877201 TOTAL FUNDS CARRTED FORWARD 6,423,178 6,423,178 6,058,759 The notes fonn part of these financial statements Page 9
MAJ)INA MOSQUE TRUST BALANCE SHEET 31 MARCH 2023 31J.23 Total funds 31.3.22 Total Unrestricted Restricted fiwds fid Notes FIXED ASSETS Tangibl¢ assets Investm¢llt property 13 850,592 14 5J80,1)00 850,592 5,380,000 837,792 5,052,187 6,230,592 6,230592 5.889.979 CURRENT ASSETS Debtors Cash at bank and in hand 15 13,551 198252 13,551 198,252 186.959 211,803 211,803 186,959 CREDITORS Amounts falling due withiD one y¢ar 16 (19,217) (19,217) (18.179) NET CURRENT ASSETS 192,586 I926 168.780 TOTAL ASSETS LESS CURRENT LIABILITIES 423,178 6,423,178 6.058,759 NET ASSETS 6,423,178 6,423,178 6,058,759 FiJNDS Unr¢stri¢ted funds 17 6,423,178 6.058,759 TOTAL FI)ThDS 6,423,178 6.058,759 The financial statem¢nt8 were approved by the Board of Tntstees and authorised for issue o . and were signed on its behalf by: £_ Thistee The notes fotm part of these financial statements Page 10
MADINA MOSQUE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOiINTING POLICIES Basis of preparing the financial statements The financial statements of the cbarity, which is a public benefit entity under FRS 102, have bee preped ill accordaoce with the Charities SORF (FRS 102) 'Accounling and Rcporting by Charities.. Statement of Recommended Practice applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) {effective l January 2019),, Financial Reporting Standard 102 'The Financial Reportiug Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been Prepared under the historical cost convention, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Finallcial Activities once the charity has enlitlenlent to the funds, it is probable that the incom¢ will be received and the amount can be measured reliably. Expenditure Liabilities are recolsed as expenditure as soon as thcre is a legal or coyjstrnclive obligation committing the charity to that expenth'ture. it is probable that a transfer of economic benefits will be required in settlcment and the amount of the obligation can be mcasured reliably. Expenditure is accounted for on an accnjals basis and has been classified under headings that aggregate all cost Telated to the category. Where costs cannot be diiectly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fjxed assets Fixtures & Fittings are depre¢i&ted at 200/0 on Teducing balance method. No depreciation is charged on freehold property as it is maitLtained to a kn'gb standard and Its D]arket value is bigher than the book value. Inve5tmeDt properties Investment properties are shown at fair value valuation. Any aggregate SUTpIus OT deficit arising from ¢banges in fair value are transferred to the SOFA. Taxation The charity is exempt from tax on its charitable activities. Fulld accounting Unrcstricted fimds call be used in accordance with the charitsble objectives at the discretion of the stees. Restiicted fimds can only be used for particular restiicted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted putposes. Further explanation of the nature and purpose of each fund is included in the notes to the fUncIal stat¢ments. PensRoD costs and other post-retirement benefits The charity operatss a defmed contribution pension schen. Contributions payable to tbe charitys pension scheme are cbarged to th¢ Statemeot of Financial Activities in the period to wbich they relate. Pagell continued...
L4DINA MOSQUE TRUST NOTES TO THE FINIINCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 MARCH 2023 DONATIONS AND LEGACIES 31.3.23 Total funds 31.3.22 Total funds Unrestricted Restricted fidS fidS Donations Safe Collection Eid Collection Juma Collection Ramadan Collection 26,042 7,495 2,582 22.227 8,292 26,042 7,495 2.582 22.227 8292 17,213 6.005 4,015 29.037 13.913 66,638 66,638 70,183 OTHER TRADING ACTIVITIES 313.23 Total funds 31.3.22 Total funds Unr¢strRcted Restrictsd funds funds CalendeT / Radio Sales Burial Fces Maddresa Fees Malage Fees Membershtp Fees 1.090 1,130 102,636 1,090 1,130 102,636 1,090 1215 86,985 890 5.515 2.540 1540 107,396 107J96 95.695 INVESTMENT IIYCOME 31J.23 Total funds 31.3.22 Total funds Unrestiicted Restricted funds funds Rents receivable 149,800 149,800 134.434 Page 12 continued..
MADINA MOSQUE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR TTrIE YEAR ENDED 31 MARCH 2023 OTHER TRADING ACTIVITIES 31.3a3 Total funds 31.3.22 Total fimds UDrestrACted Restricted funds funds Purchases 9,677 9,677 13.364 INYL8TMENT MANAGEMENf COSTS 31.3.23 Total funds 31.3.22 Totsl fijnds Unrestricted Restricted fiu]ds funds Letting Ag¢llt Fee 4,375 4J75 4.325 CIL4RtTABLE ACTIVITIES COSTS Support costs (see note 8) Direct Costs Totals Administration Charitable Activities 7,061 7,061 266.115 266,115 266,115 7,061 273,176 SUPPORT COSTS Governance costs Finance Totals Administration 1,021 6,040 7,061 AUDITORS, REMUNERATION 31.3.23 31.3.22 Fees payable to the charitys auditors f the audit of the cbaritys fmaucial statements 3,900 3.900 Page 13 continued...
MADINA MOSQUE TRUST NOTES TO THE FINANCIAL STATEMENfs - continued FOR THE YEAR ENDED 31 MARCH 2023 10. TRUSTEES, REMUNERATION AND BENEFITS There wcre llo trustees, remuneration or other benefits for the year cnded 31 March 2023 nor for the year ended 31 Mah 2022. Tru$tees' expenses There were no trustees, expenses paid for the year ended 31 MarcEL 2023 nor for the year ended 31 March 2022. Key management personnel The key management personnel is the board of trnstees and executive conllnitt¢¢. 11. STAFF COSTS 31.3.23 31.3.22 Wages and saIaries Social security Costs Other pension costs 161J03 2,547 1,296 139,263 679 1,413 165.146 141,355 The average montbly number of employees during the year was as follows.. 31.3.23 21 31.3.22 20 Cbaritable Activities No employees re1ved emoluments in ex¢ess of £OO.000. 12. COMPARATIVES FOR THE STATEL¥fENT OF FLYANCIAL ACTIifiTIES Unrestricted Restricted funds fimd Total funds INCOME AIYD ENDOWMEwfs FROM Dooations and legacies 70.183 70,183 Other trading activities investn]¢nt income 95,695 134.434 95,695 134,434 Total 3(K).312 300,312 EXPENDITURE ON Raising funds Other trading activities Investellt manag¢ment costs 13.364 4,325 13.364 4.325 17,689 17,689 Page 14 continued..
MADINA MOSQUE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023 12. COMPARATIVES FOR THE STATEMENT OF Fll¥ANCIAL ACTIVITIES - Continued Unrestricted Restricted Total funds fund fiukds Charitable actlvltles Administratxon Charitable Activities 6,839 194,226 6,839 194.226 Total 218,754 218.754 ET INcor Transfers betiveen funds Other reeogllised gainsl(losses) Gains on revaluation of fixed assets 81,558 1.005,439 (1.005.439) 81,558 I.ioo.000 1.100,000 Net movement in funds 2.186.997 (1.005,439) 1.181,558 RECONCILIATION OF FI]NDS Total funds brought forward 3.871.762 1,005,439 4,877.201 TOTAL FUNDS CARIUED FORWARD 6,058.759 6,058.759 13. TANGIBLE FIXED ASSETS Fixths and fittings Freehold propety Totals COST At l ApIil 2022 Additions 837,792 837.792 16,000 16,000 At 31 Mah 2023 837,792 16,000 853,792 DEPRECIATION Charge for year 3,21NJ 3,200 NET BOOK VALUE At 31 March 2023 837,792 12,800 850,592 At 31 March 2022 837,792 837,792 Page 15 ¢ontinued...
MADINA MOSQUE TRUST IYOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 IWCH 2023 14. ll¥VESTMENT PROPERTY FAIR VALUE At l April 2022 Revaluation 5,052,187 327,813 At 31 March 2023 5J80,000 IYET BOOK VALUE At 31 March 2023 5,380,000 At 31 Mah 2022 5,052.187 Fair value at 31 March 2023 is represented by.. Valuation in 2023 5J80,000 15. DEBTORS: AMOUFITS FALLING DUE WITHIN OIYE YEAR 31J.23 31.3.22 Other debtors 13,551 16. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Taxation aDd social security Other creditors 245 18,972 1,533 16,646 19,217 18,179 17. MOVEMENT IN FtnyDS Net movement in fijnds At 3113123 At 114122 Ullrestricted funds UDxestricted Funds Revaluation Re5¢rYe 2,265J13 3,793,446 36,606 327013 2.301,919 4,121,259 6,058,759 364,419 6,423,178 TOTAL FUNDS 6,058,759 364,419 6,423,178 Page 16 continued...
MADINA MOSQUE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS- continued Net movement in funds. included in the abov¢ are as follows.. Incoming ResouT¢es resoutces expended Gains and Movement losses in flmds Unrestricted funds Unrestricted Funds Revaluation Reserve 323,834 (287,228) 36,606 327,813 327,813 323,834 (287,228) 327,813 364,419 TOTAL FUM)S 323,834 (287,228) 327,813 364.419 Conipar2tlves for movement In funds Net movement in funds Transfers between fiu]ds At 3113122 At 114121 Unrestrleted funds Unrestricted Funds Revaluation R¢s¢rve 1.178.316 2.693.446 81,558 i.ioo.000 1,005.439 2.265,313 3,793.446 3.871,762 1,181.558 1.005.439 6,058,759 Restrlcted funds Restticted Funds 1,005,439 {1.005.439) TOTAL FUNDS 4.877.201 1.181.558 6,058.759 Comparative net movement in funds, included in the above ar¢ as follows: Incoming Resources resources expended Gains and Movement losses in fimds Unrestricted funds Unrestricted Funds Revaluation Reserve 300,312 (218,754) 81,558 I,ioo,000 i.ioo,000 3.312 (218.754) 1.100,000 1.181,558 TOTAL FUNDS 300.312 (218,754) 1,100,000 ,181.558 Page 17 Qontinued...
MADINA MOSQUE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR EIWED 31 MARCH 2023 17. MOVEMENT IN FUNDS- continued A Current year 12 montbs and prior year 12 montbs combined position is as follows." Net movement in funds TTansfers between fijnds At 3113123 At 114121 Unrestrleted fund5 UnrestrÉct¢d Funds Revaluation Reserve 1.178,316 2,693.446 118,164 1,427,813 1,005.439 2,301.919 4,121,259 3.871,762 1.545,977 1,005.439 Restricted funds R¢strict¢d Funds 6,423,178 1,005,439 (1.005.439) TOTAL VUNDS 4,877,201 1,545,977 6,423,178 A current yeaT 12 months atkd prior year 12 months ¢ombined net movement in fiujds, included in the above are as follows: Incoming Resources GaiJ)s and Movement resources expended losse5 in funds Unrestricted funds Unrestricted Funds Revaluation Reserve 624,146 (505,982) 118,164 1.427,813 1,427,813 624.146 (505,982) 1,427.813 1,545,977 TOTAL FtrNDS 624,146 (505.982) 1,427,813 1.545.977 18. RELATED PARTY DISCLOSURES Ther¢ were no r¢lated paty traJ)sactioll5 foT the year ended 31 March 2023 (Nil .. 31 March 2022) Page 18
MADINA MOSQUE TRUST DETAJLED STATEMENT OF FINANCIAL AcrtVITIES FOR THE YEAR ENDED 31 IWiCH 2023 31.3.23 31.3.22 INCOME AND ENDOWMENTS Donations and legaeies Donations Safe Collection Eid Collection Juma Collection Ramadan Collection 26,042 7,495 2,582 22,227 8,292 17,213 6,005 4,015 29,037 13,913 6fj638 70.183 Other trading activities Calender l Radio Sales Burial Fces M&ddresa Fees Marriage F¢es Membership Fees 1,090 1,130 102,636 1.090 1.215 86,985 890 5.515 2,540 107,396 95,695 Investment income Rents receivable 149,800 134,434 Totgl incoming resources 323,834 300.312 EXPEIYDITtIRE Other trading Activfities Purchases Mosque Books 6,813 2,864 10,424 2.940 9,677 13,364 tnvestD)ent management Costs Letting Agent Fee 4J75 4,325 Charfitable a¢tivlties Wages Social security Pensions Rates and water caled forward 161,303 2,547 1,296 213 165,359 139,263 679 1,413 288 141,643 This page does not form part of the statutory financial statements Page 19
MADINA MOSQUE TRUST DETAILED STATETrtENT OF FINANCIAL ACTtVlTIES FOR TILE YEAR ENDED 31 MARCH 2023 31.3.23 31.3.22 Charitable activities Brought fOn¥d Insurance Light and heat Telephone Postage alld stationery Motor Expenses Websitc Repatrs & renewals Donations ADnual Function Loss on Salc of teng Fix Ass¢t Depreciation of tan8ible red ass¢ls 165,359 3,479 IlJ21 427 1,175 42 189 74,889 164 5,870 14l,643 1,446 24,221 456 1,084 756 12.762 3,670 8,188 3,200 266,115 194226 Support ¢osts Fin*ll¢e Bank charges 1,021 1.039 Governan¢e costs Auditors, remulleration Accountancy fees 3,900 2,140 3,900 1.900 6,040 5,800 Total resources expended 287228 218,754 Net income 3A606 81.558 This page does not forni part of the statutory fanCIal statements Page 20