Charity number: 293712
Colchester Islamic Cultural Association
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 July 2021
Colchester Islamic Cultural Association Contents Page For the year ended 31 July 2021
| Report of the Trustees | 1 |
|---|---|
| Independent Examiner's Report to the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 to 6 |
| Detailed Statement of Financial Activities | 7 |
Colchester Islamic Cultural Association Report of the Trustees
For the year ended 31 July 2021
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 July 2021. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
The objectives of the Charity are to:
1) To advance the Islamic religion according to Quran and Sunnah; and
2) To advance the education of Muslim children in accordance tenets and doctrines of Islam.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Colchester Islamic Cultural Association Charity registration number 293712 Principal address 2 - 3 Priory Street Colchester Essex CO1 2PY
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Faisal Kamal Ahmed Mr Hussain Ahmed Mr Lokman Ali Mr Mohamed Koysor Chowdhury Mr Ishtiak Hussain Mr Dilu Miah Mr Abdullah Al Numan Mr Abdul Mutakabbir Mr Mishba Uddin Senior management Mohamed Koysor Chowdhury (Chairman) Independent examiners EMA Squared 110 High Street Earls Colne Nr. Colchester Essex CO6 2QX
Approved by the Board of Trustees and signed on its behalf by
.............................................................................
Mr Mohamed Koysor Chowdhury
21 April 2022
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Colchester Islamic Cultural Association
Independent Examiners Report to the Trustees
For the year ended 31 July 2021
I report to the trustees on my examination of the accounts of the charity for the year ended 31 July 2021.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
Last year's recommendation that the Weekly cash sheet be updated to include "Cash brought forward"; "Cash banked"; "Cash carried forward to next week" has been met.
The trustee's have made representaions that the weekly cash is counted in the presence of atleast two trustees.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
EMA Squared 110 High Street Earls Colne Nr. Colchester Essex CO6 2QX
19 April 2022
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Colchester Islamic Cultural Association Statement of Financial Activities
For the year ended 31 July 2021
| Notes | Unrestricted | 2020 | ||
|---|---|---|---|---|
| funds | ||||
| £ | £ | |||
| Income and endowments from: | ||||
| Donations and legacies | 2 | 79,429 | 76,531 | |
| Other income | 57,165 | 7,143 | ||
| Total | 136,594 | 83,674 | ||
| Expenditure on: | ||||
| Charitable activities | ||||
| Activity 1 | (43,026) | (46,887) | ||
| Total | (43,026) | (46,887) | ||
| Net income | 93,568 | 36,787 | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 522,758 | 485,971 | ||
| Total funds carried forward | 616,326 | 522,758 |
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Colchester Islamic Cultural Association Statement of Financial Position
As at 31 July 2021
| Notes Fixed assets Tangible assets 3 Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 5 Net assets The funds of the charity Unrestricted income funds Total funds |
£ 2021 622,367 622,367 31,459 31,459 - 31,459 653,826 (37,500) 616,326 616,326 616,326 |
£ 2020 367,217 |
|---|---|---|
| 367,217 | ||
| 175,710 | ||
| 175,710 | ||
| (20,169) 155,541 |
||
| 522,758 | ||
| - | ||
| 522,758 | ||
| 522,758 | ||
| 522,758 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr Mishba Uddin Trustee
21 April 2022
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Colchester Islamic Cultural Association Notes to the Financial Statements
For the year ended 31 July 2021
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Colchester Islamic Cultural Association 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).
Going concern
2. Income from donations and legacies
| Unrestricted funds Donations received Legacies received Subscriptions received |
2020 2021 £ £ - 2 41,490 33,372 35,041 46,055 76,531 79,429 |
|---|---|
Analysis of grants received
| Essex Association - Help for Covid Families HMRC Coronavirus Job retention Scheme HMRC Gift Aid |
2021 £ 3,000 17,138 37,026 57,165 |
2020 £ - - 7,143 |
|---|---|---|
| 7,143 |
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Colchester Islamic Cultural Association
Notes to the Financial Statements Continued
For the year ended 31 July 2021
3. Tangible fixed assets
| Cost or valuation At 01 August 2020 Additions At 31 July 2021 Net book values At 31 July 2021 At 31 July 2020 reditors: amounts falling due after more than one year Other creditors Due wholly or in part by instalments: Others Due otherwise than by instalments: Others |
2021 £ 37,500 37,500 37,500 37,500 37,500 37,500 |
Land and Buildings £ 367,217 255,150 |
|---|---|---|
| 622,367 | ||
| 622,367 | ||
| 367,217 | ||
| 2020 £ - |
||
| - | ||
| - | ||
| - | ||
| 20,000 | ||
| 20,000 |
5. Creditors: amounts falling due after more than one year
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Colchester Islamic Cultural Association Detailed Statement of Financial Activities
For the year ended 31 July 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| INCOME AND ENDOWMENT | ||||
| Donations and legacies | ||||
| Donations | 2 | - | ||
| Standing Order | 33,372 | 41,490 | ||
| Cash & Direct Deposits | 46,055 | 35,041 | ||
| 79,429 | 76,531 | |||
| Other income | ||||
| Grants Received | 57,165 | 7,143 | ||
| 57,165 | 7,143 | |||
| Total incoming resources | 136,594 | 83,674 | ||
| SUPPORT COSTS | ||||
| Premises | ||||
| Premises | - | (2,537) | ||
| Staff costs - wages & salaries | (20,563) | (34,045) | ||
| Heat and Light | (1,016) | (1,155) | ||
| Water Rates | - | (173) | ||
| Printing, Postage & Stationery | - | (1,105) | ||
| Telephone & Internet | - | (205) | ||
| Premises and Employers Insurance | (800) | (673) | ||
| Legal fees | (4,911) | - | ||
| Sundries | (6,201) | - | ||
| Accounting Fees | (900) | (975) | ||
| Legal & Professional fees for Building works | (5,389) | (5,350) | ||
| Cleaner | (1,986) | (131) | ||
| Exhibitions & Premises Hire | (1,260) | (538) | ||
| (43,026) | (46,887) | |||
| Total resources expended | (43,026) | (46,887) | ||
| Net Income | 93,568 | 36,787 |
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This page does not form part of the statutory financial statements