Charity Registration Number: 294808
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 December 2021
| Name of charity: | KSI Muslim Community of Milton Keynes |
|---|---|
| Registration number: | 294808 |
| Principal address: | Peverel Drive |
| Milton Keynes | |
| MK1 1NW | |
| Trustees: | Mr. Zaheer Allarakhia |
| Mr. Ammar Ali Farishta | |
| Mr. Asgher Sultan | |
| Mr. Sameer Somji | |
| Dr. Hamid Manji | |
| Mr. Alireza Versi | |
| Mr. Muntazirali Hasham | |
| Independent examiner: | Sabat Accountants Ltd |
| Suite G1 | |
| Hartsbourne House | |
| Delta Gain | |
| Carpenders Park | |
| Watford | |
| WD19 5EF | |
| Bankers: | Lloyds Bank |
| 28 Secklow Gate West | |
| Milton Keynes | |
| MK9 3EH |
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KSI Muslim Community of Milton Keynes
Charity number: 294808
Introduction
The Trustees of KSI Muslim Community of Milton Keynes present their annual report and independently examined accounts for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply 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)’ (as amended for accounting periods commencing from 1 January 2016).
Our aims
The KSI Muslim Community of Milton Keynes is committed to facilitate as many people as possible to worship at our Centre and to become part of our community. It also maintains an overview of worship throughout our larger community and makes suggestions to enhance our services by involving other groups within our greater community in Milton Keynes.
When planning activities for the year, the Executive Committee has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
In particular, we try to enable people to live out their faith by:
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propagating and promoting spiritual, educational and humanitarian teachings of the Shia Ithna-Asheri Muslim faith; and
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we also strive to build bridges with people from other faiths and those who have no faith within our greater community and the country as a whole.
Structure, governance and management
The charity was established by a constitution adopted on 4 March 1985 as amended on 28 February 2016 (the ‘Constitution’) and is a registered charity conforming with its adopted constitution and its periodic amendments.
The Trustees who served during the year were:
Mr. Zaheer Allarakhia Appointed 14 March 2021 Mr. Ammar Ali Farishta Appointed 14 March 2021 Mr. Asgher Sultan Appointed 14 March 2021 Mr. Sameer Somji Appointed 14 March 2021 Dr. Hamid Manji Appointed 14 March 2021 Mr. Alireza Versi Appointed 14 March 2021 Mr. Muntazirali Hasham Appointed 14 March 2021
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Mr Komail Rajani Resigned 14 March 2021 Mr Naushad Dhanji Resigned 14 March 2021 Mr Zoher Hirji Resigned 14 March 2021 Mr Mehboob Ladak Resigned 14 March 2021 Mr Rahman Ladak Resigned 14 March 2021 Mrs Shaista Rajani Resigned 14 March 2021
Recruitment and appointment of trustees
In accordance with the provisions in the constitution, the elected Trustees comprise of a president, treasurer, secretary and an officiator to serve for a term of two years. Three further trustees are nominated who also serve for a term of two years. The collective body of Trustees is recognised as the “Executive Committee”.
Management and governance arrangements
The management of the community is undertaken by the Executive Committee.
Related parties and co-operation with other organisations
The charity, although independent, is involved with a wider network of charities. It is a member of a regional council, The Council of European Jamaats (UK registered charity number 282303) which represents the KSI Muslim Community of Milton Keynes at the global organisation, The World Federation of Khoja Shia Ithna-asheri Muslim Communities (UK registered charity number 1096111).
Public benefit
The Charity’s objectives that benefit the public are listed below.
Objectives and activities
Objectives
The objectives of KSI Muslim Community of Milton Keynes are:
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To propagate and promote the spiritual, educational, humanitarian teachings of the Shia IthnaAsheri Muslim faith.
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To establish and maintain a Centre and similar places of worship for members of the charity.
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To establish and maintain religious, educational and welfare institutions.
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To render assistance and facilities for the performance of religious rites on the occasions of marriage and death.
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To raise funds and to invite and receive contributions provided that in raising funds the Executive Committee shall not undertake any substantial permanent trading activities and shall conform to all relevant requirements of the law.
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To buy, lease or exchange any property necessary for the achievement of the objects and to maintain it for use.
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Subject to any consents required by law to sell, lease or dispose of all or any part of the property of the charity.
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Subject any consents required by law to receive interest-free loans, to borrow money and to charge all or any part of the property of the Charity with repayment of the money, so borrowed provided there is a mandate obtained from two-thirds of the membership of the charity;
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Employ such staff (who shall not be members of the Executive Committee) as are necessary for the proper pursuit of the objects.
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Co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objects or of similar charitable purposes.
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To establish or support any charitable trusts, associations or institutions formed for all or any of the objects.
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To appoint and constitute such advisory committees as the Executive Committee may deem necessary.
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To undertake all such lawful things as are necessary for the achievement of the objects.
Activities
Due to global pandemic, the Centre remained shut during the first quarter of 2021. On the auspicious occasion of Eid-al-Fitr, and in accordance with the Government guidelines, the Centre was opened for the Eid congregational prayers. The centre had a strict policy of pre-booking a slot for the Eid prayers and temperature checks were conducted for attendees before entering the centre. Use of hand sanitisers and face masks were made compulsory for all attendees of the Eid congregational prayers. Social distancing was maintained inside the Centre with clear markers of at least one metre between each attendee.
During the year under review, the charity incurred significant building renovation costs, in particular, due to the construction of a ladies ablution room. In addition, various other renovation expenses were incurred, and we are thankful to all the donors who contributed a total of £32,355 towards the building renovation fund. This figure, together with half of current year’s surplus, totalling £48,138 was added to building renovation fund as detailed in note 12 of the financial statements.
The total cost incurred relating to projects, including those approved at various general meetings totalled £56,551. Of this amount, £28,222 was regarded as capital in nature and capitalised in accordance with section 17 of Financial Reporting Standards 102.
The closing position of building renovation fund (as shows in note 12) of £53,587 would have been different had the £28,222 not been capitalised in the financial statements.
Should the cost had been absorbed within the building renovation fund instead of being capitalised, the closing position of building renovation fund would have been £31,009.
The Centre usually holds the following activities for the members and the wider community throughout the year:
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Regular gatherings at mosque at least twice a week:
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a. Thursday nights – prayers followed by educational sermons and seminars;
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b. Friday afternoons – prayers; and
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c. Daily events during days of commemoration and fasting months.
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Regular meetings by senior citizens club of the mosque (this has stopped during Covid 19 pandemic with plans to recommence when conditions are suitable).
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-
Sunday Islamic school for children and teenagers.
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Sports and recreation are held weekly for the members and the wider community.
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Regular inter and intra-faith meetings within our local and wider community.
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Host visits for interested parties, such as schools and scouts to the Centre.
Achievements and performance
The Charity has operated throughout the year and organised activities for community members and the wider public. This included a Covid 19 vaccination clinic where the charity facilitated, in collaboration with the NHS and the Council, a day where the Centre was open to all members of the public to get the Covid 19 vaccination. This event was well received and attended by members of the public including the Mayor of Milton Keynes and the local Conservative party MP.
Achievements
Increase in the number of virtual programmes
During the first quarter of 2021, which coincided with the holy month of Ramadhan, online programs saw good participation of reciters of the Holy Quran and other supplications. It was pleasing to note that parents encouraged their children to join online Zoom platforms to attend and participate in various programs.
Police and Security Liaison
We have achieved an excellent rapport with the local police team and specially, our assigned community liaison officers. This provides reassurance to the community that we take security of the Centre very seriously.
Relationship with the Council Office Bearers
We have been graced with the presence of the Mayor and the Deputy Mayor during the Covid 19 vaccination day who took great interest in the community’s affairs.
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Future plans
Increase Inter- and Intra-Faith events
We will continue fostering inter and intra-faith relations by working with the local community.
Enhance in dialogue discussions
Build on our success of presenting dialogue style programmes to discuss current events and its religious aspects.
Environment friendliness
The Charity is working hard to reduce its environmental impact; however, it recognises there are further improvements to be made. Recycling facilities are provided at the Centre, and our members are encouraged to bring their own crockery during events where food is served to reduce the use of single use plastics.
Due to major works carried out during 2021, the Centre has installed LED bulbs and a new efficient boiler system.
Financial report
The Executive Committee has achieved a healthy balance sheet for year ended 31 December 2021.
Reserve policy
The Charity has a policy of transferring 50% of any surplus achieved in the Unrestricted Fund in the financial year to the Restricted Building Renovation Fund.
The Building Renovation Fund which is part of Restricted Funds has specifically been put in place to cover maintenance of the building taking into consideration its age.
Balances
At the Balance Sheet date, the Charity’s reserves increased by £39,954 represented by an increase of £15,783 in Unrestricted Funds and an increase of £24,171 in the Restricted Funds.
Restricted funds
These are funds which are for specific causes such as Building Renovation, Burial, Seniors etc. either based on donor’s instructions or pre-determined reserved funding projects.
Unrestricted funds
These are all funds available for the day to day running of the Centre and for furtherance of our objectives.
Investment policy
The assets of the charity are held in the nominee name of the Trustees.
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Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with the applicable law and United Kingdom’s accounting standards (United Kingdom’s generally accepted accounting practice).
The law is applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of affairs of the charity and of incoming resources and application of resources of the charity for that period. In preparing financial statements, the trustees are required to:
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Select Suitable Accounting Policies and apply them consistently;
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Observe the methods and principles in the Charities Statement of Recommended Practice;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial Statements on the going concern basis unless it’s inappropriate to presume that the charity will continue in business
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 2008 and the provisions of the Constitution.
They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on and signed on their behalf by:
----- Start of picture text -----
…………………………….. ……………………………..
Zaheer Allarakhia Asgher Sultan
President Treasurer
25 March 2022 25 March 2022
----- End of picture text -----
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Independent Examiners’ Report
To the Trustees of KSI Muslim Community of Milton Keynes,
I report to the Trustees on my examination of the financial statements of KSI Muslim Community of Milton Keynes for the year ended 31 December 2021 which are set out on pages 9 to 19.
Responsibilities and basis of report
As the Trustees of the charity, you are responsible for the preparation of the financial statements in accordance with requirement of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trustee’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 2011 Act.
Independent Examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
……………………………..
25 March 2022
Sabat Accountants Ltd Suite G1 Hartsbourne House Delta Gain Carpenders Park Watford WD19 5EF
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Statement of Financial Activities
For the year ended 31 December 2021
| Notes Income from: Donations and legacies 3 Other trading activities 4 Total income Activities: 5 Charitable activities Support costs Governance costs Total charitable expenditure Net income Transfers between funds Net income after transfers Reconciliation of funds Funds brought forward as at 1 January Funds carried forward as at 31 December |
Unrestricted Funds £ Restricted Funds £ Total 2021 £ Total 2020 £ 92,132 66,738 158,870 82,032 7,323 - 7,323 7,377 |
|---|---|
| 99,455 66,738 166,193 89,409 |
|
| (31,864) (21,587) (53,451) (31,430) (34,546) (36,763) (71,309) (64,914) (1,480) - (1,480) (1,052) |
|
| (67,890) (58,350) (126,240) (97,396) |
|
| 31,565 8,388 39,953 (7,987) (15,783) 15,783 - - |
|
| 15,782 24,171 39,953 (7,987) 75,295 777,601 852,896 860,883 |
|
| 91,077 801,772 892,849 852,896 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Balance Sheet
as at 31 December 2021
| Notes Fixed assets Tangible assets 8 Current assets Debtors and other receivables 9 Stock 10 Cash at bank and in hand Creditors:amounts falling due within one year 11 Net current assets Net assets Income funds Restricted funds 12 Unrestricted funds TOTAL |
2021 £ 667,557 19,644 390 217,427 237,461 (12,169) 225,292 892,849 801,772 91,071 892,849 |
2021 £ 667,557 19,644 390 217,427 237,461 (12,169) 225,292 892,849 801,772 91,071 892,849 |
2020 £ 651,699 13,351 2,196 202,293 217,840 (16,643) 201,197 852,896 777,601 75,295 852,896 |
2020 £ 651,699 13,351 2,196 202,293 217,840 (16,643) 201,197 852,896 777,601 75,295 852,896 |
|---|---|---|---|---|
| 237,461 (12,169) |
217,840 (16,643) |
|||
| 892,849 | 852,896 | |||
| 801,772 91,071 |
777,601 75,295 |
|||
| 892,849 | 852,896 |
The accounts were approved by the Trustees on:
…………………………….. Zaheer Allarakhia President 25 March 2022
…………………………….. Asgher Sultan Hon. Treasurer 25 March 2022
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Notes to Financial Statements for the year ended 31 December 2021
Charity Information
KSI Muslim Community of Milton Keynes is a charitable trust registered in England and Wales with registration number 294808. The principal address of the charity is Peverel Drive, Milton Keynes, MK1 1NW. The charity’s nature of operation and principal activities can be found on page 2 of this report.
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic Ireland (FRS 102) (effective 1 January 2019) – (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).The accounts have departed from the Charities (Accounts and Reports) Regulations only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying to FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The accounts are prepared in British Pounds which is the functional currency of the charity. Monetary amounts in these financial statements are to the nearest British Pound.
The charity has early adopted the provisions of Charities SORP (FRS 102) update Bulletin 1 and taken advantage of the exemption from preparing a cash flow statement.
1.2 Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. The charity operates a policy of transferring 50% of the unrestricted surplus to the Building Renovation fund each year end.
Restricted funds are subject to specific conditions set out to specific conditions by donors as to how they may be used.
The Charity leases 40 burial plots at the Wolverton Cemetery. The charity has committed to its members to renew the leases as and when appropriate. At the date of these financial statements the cost of a fiveyear extension is £250 per plot. As a result, as at 31 December 2021, a five-year extension for the existing plots would cost £10,000. The lease renewal fund (as shown within note 12) holds a sum of £15,997 as at the balance sheet date. No provision for the cost has been made in these financial statements. In order to fund lease extensions of those plots, and acquire new plots, the Charity operates a recovery fund. For
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Notes to Financial Statements for the year ended 31 December 2021
1.3 Charitable funds (cont.)
each funeral which uses a leased plot, the recovery fund is credited with £330 + 50% of the cost of a burial plot on 1 January of the prevailing year. Burial costs for Zainabiya Burial Scheme (“ZBS”) members are covered on a graduated basis by the ZBS Fund while costs for non-members are recovered from their estate.
1.4 Incoming resources
Income is recognised where the charity has entitlement, it is probable the income will be received, and the amount can be measured reliably. Gift aid is treated as part of unrestricted funds.
Investment income and income from activities for generating funds are recorded on an accrual basis.
Deferred income is recognised in the period it relates to.
Government and council grants received are recognised on the period it relates to.
1.5 Resources expended
Costs of generating funds are those costs incurred in furtherance of the name of the charity.
Resources expended on charitable activities comprises those costs incurred to meet the aims and objectives of the charity. Such costs include the direct costs associated with the performance of the charity’s activities and support costs attributable to achieving those costs.
Irrecoverable VAT is included as a cost against activity for which the expenditure was incurred.
1.6 Tangible fixed assets
Tangible fixed assets costing more than £250 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over the useful lives on the following bases:
Freehold Land and Buildings Not depreciated Leasehold Over 30 years Fixtures and Fittings 20% per annum straight line Equipment 20% per annum straight line
With the exception of Fixtures and Fittings and Equipment the depreciation and amortisation of the fixed assets is charged to the relevant reserve account.
The charity adds to the carrying amount of an item of fixed assets if the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Charity. The carrying amount of the replaced part is derecognised. Repairs and maintenance are recognised in the Statement of Financial Activities in the period in which they are incurred.
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Notes to Financial Statements for the year ended 31 December 2021
1.6 Tangible fixed assets (cont.)
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the Statement of Financial Activities.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date with the recoverable amount being estimated where such indicators exists. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
1.7 Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within bank borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.9 Support costs
Support Costs comprise those costs of running the Trust’s activities and have been allocated based on actual funds spent on these activities.
2 Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Reviews to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Notes to Financial Statements for the year ended 31 December 2021 3 Donations and legacies
| General donations Gift Aid Muharram collections Niyaz collections Ramadhan collections Aalim and other grants Job retention scheme grant Tafseer class income Burial Fund - ZBS Cemetery recovery fund Building renovation fund Fitra Khums Madressa Fund Sadaka and Poor Fidya Sub Total Membership fees Total |
Unrestricted Funds £ Restricted Funds £ Total 2021 £ Total 2020 £ 9,719 - 9,719 4,551 8,050 - 8,050 7,940 14,979 - 14,979 9,715 160 - 160 110 19,824 - 19,824 7,159 8,500 - 8,500 1,875 2,201 - 2,201 - 700 - 700 572 - 14,160 14,160 10,330 - 3,240 3,240 2,580 - 32,355 32,355 1,001 - 1,514 1,514 - - 1,240 1,240 - - 13,390 13,390 10,178 - 789 789 - - 50 50 - |
|---|---|
| 64,133 66,738 130,871 56,011 27,999 - 27,999 26,021 |
|
| 92,132 66,738 158,870 82,032 |
4 Other Trading Activities
| Hire of hall Fund raising Car park Other income Interest received Total |
2021 £ 2020 £ 6,481 3,190 - 2,245 - 1,942 825 - 17 - |
|---|---|
| 7,323 7,377 |
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Notes to Financial Statements for the year ended 31 December 2021
5 Activities
| CHARITABLE ACTIVITIES Aalim expenses Niyaz and Tabarruk Ramadhan expenses Muharram expenses Other programme expenses Madrassah expenses Burial Fund – ZBS Burial expenses Fitra, Fidya and Kafara Charitable donations Amort. of Wolverton Lease Depr. of AV Equipment SUB TOTAL SUPPORT COSTS Staff cost Bookkeeping services Water rates Light & heat Telephone and internet Insurances Cleaning & maintenance Building renovation Sundry expenses Depr. of Fixtures & Fittings Depr. of Equipment Printing & postage Bank charges SUB TOTAL |
Unrestricted funds £ Restricted funds £ Total 2021 £ Total 2020 £ 9,714 - 9,714 6,700 4,473 - 4,473 497 11,026 - 11,026 3,000 6,651 - 6,651 3,529 - - - 284 - 16,598 16,598 6,935 - 2,965 2,965 2,780 - - - 1,401 - 1,144 1,144 - - - - 700 - 880 880 880 - - - 4,724 |
|---|---|
| 31,864 21,587 53,451 31,430 |
|
| 5,165 - 5,165 4,903 520 - 520 170 1,323 - 1,323 1,024 6,300 - 6,300 6,175 1,259 - 1,259 1,390 2,479 - 2,479 2,117 9,067 - 9,067 5,976 - 28,329 28,329 40,605 3,552 - 3,552 289 1,926 5,644 7,570 1,932 2,366 2,790 5,156 - - - 133 589 - 589 200 |
|
| 34,546 36,763 71,309 64,914 |
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Notes to Financial Statements for the year ended 31 December 2021
5 Activities (cont.)
| GOVERNANCE COST Subscriptions Meeting expenses Independent examination SUB TOTAL TOTAL |
Unrestricted funds £ Restricted funds £ Total 2021 £ Total 2020 £ 400 - 400 535 - - - 17 1,080 - 1,080 500 |
|---|---|
| 1,480 - 1,480 1,052 |
|
| 67,890 58,350 126,240 97,396 |
6 Trustees
None of the Trustees (nor anyone connected to them) received any remuneration or benefits from the charity during the financial year (2020: nil).
No Trustees received reimbursement for costs for attending meetings and/or travelling expenses during the year (2020: nil).
7 Employees
The average number of employees during the year was 1 (2020: 1).
| Staff Costs | 2021 £ 2020 £ |
|---|---|
| 5,165 4,903 |
There were no employees whose annual remuneration was £60,000 or more.
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Notes to Financial Statements for the year ended 31 December 2021
8 Tangible Fixed Assets
| Cost As at 1 January 2021 Additions Transfer As at 31 December 2021 Depreciation and Impairment As at 1 January 2021 Charge for the year As at 31 December 2021 Balance at 1 January 2021 Balance at 31 December 2021 |
Freehold Land & Building £ Leasehold Land £ Equipment £ Fixtures and Fittings £ Assets under the course of construction £ Total £ 608,512 26,400 24,903 12,524 3,816 676,155 - - 879 28,585 29,464 - - - 3,816 (3,816) - |
|---|---|
| 608,512 26,400 25,782 44,925 - 705,619 |
|
| - 5,280 11,296 7,880 - 24,456 - 880 5,156 7,570 - 13,606 |
|
| - 6,160 16,452 15,450 - 38,062 |
|
| 608,512 21,120 13,607 4,644 3,816 651,699 |
|
| 608,512 20,240 9,330 29,475 - 667,557 |
The land and building comprise of the freehold property at KSI Muslim Community of Milton Keynes.
The Trustees consider that the market value of land and buildings is in excess of its book value.
Leasehold land comprises of burial plots at Wolverton Cemetery.
Additions to fixture and fittings mainly related to the capitalised element of renovations expenses incurred during the year. The amount capitalised relating directly to building renovation expenses was £28,222.
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Notes to Financial Statements for the year ended 31 December 2021
| 9 Debtors Amounts falling due within one year Outstanding subscriptions Other Debtors Prepayments and Accrued Income Total Other debtors mainly consist of Gift Aid balance claimable. |
2021 £ 2020 £ 772 3,460 17,395 8,990 1,478 901 |
|---|---|
| 19,645 13,351 |
|
10 Stock
| Coffins Total 11 Creditors Amounts falling due within one year Deferred income Other creditors Accruals Total |
2021 £ 2020 £ 390 2,196 |
|---|---|
| 390 2,196 |
|
| 2021 £ 2020 £ 755 10,680 6,679 4,003 4,735 1,960 |
|
| 12,169 16,643 |
Accruals relate to costs incurred at year end, paid post year end date.
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Notes to Financial Statements for the year ended 31 December 2021
12 Restricted Funds
| Building Fund Wolverton Cemetery Fund Cemetery recovery Fund Building Renovation Fund Burial Fund - ZBS Madressa Fund Senior Citizens Fund Media Fund Fidya,Khums and Fitr Total |
Opening Balance £ Incoming Resources £ Resources Expended £ Closing Balance £ 608,512 - - 608,512 21,120 - 880 20,240 12,757 3,240 - 15,997 39,422 48,138 33,973 53,587 51,008 14,160 2,965 62,203 37,317 13,390 16,598 34,109 4,675 - - 4,675 2,790 - 2,790 - - 3,593 1,144 2,449 |
|---|---|
| 777,601 82,521 58,350 801,772 |
13 Related Party Disclosures
| Related party | Relationship | 2021 | 2020 | Nature of Transaction |
|---|---|---|---|---|
| £ | £ | |||
| COEJ | Affiliate | 1,544 | 2,416 | Payment of subscriptio |
| Donations (including K | ||||
| COEJ | Affiliate | 1,500 | 1,875 | Aalim and Administrat |
| World Federation | Affiliate | 1,014 | - | Purchase of Madressa |
-
2,416 Payment of subscription, Relief Projects & Donations (including Khums and Zakat).
-
1,875 Aalim and Administrator Grant received.
-
Purchase of Madressah supplies.
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