**Charity Registration Number: 294808**
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 December 2023
**Name of charity:** KSI Muslim Community of Milton Keynes **Registration number:** 294808 **Principal address:** Peverel Drive Milton Keynes MK1 1NW **Trustees:** Mr. Naushad Dhanji Mr. Hasnain Datoo Mr. Asgher Sultan Mr. Zaheer Allarakhia Mr. Riaz Dhanji Mr. Zahid Panjwani Dr. Mohamedsuhel Chagani **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 2023. 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 2019).
## 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:
- propagating and promoting spiritual, educational and humanitarian teachings of the Shia Ithna-Asheri Muslim faith; and
- 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. Naushad Dhanji Appointed 03 August 2023 Mr. Hasnain Datoo Appointed 03 August 2023 Mr. Asgher Sultan Mr. Zaheer Allarakhia Mr. Riaz Dhanji Appointed 03 August 2023 Mr. Zahid Panjwani Appointed 03 August 2023 Dr. Mohamedsuhel Chagani Appointed 26 February 2024
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Mr. Ammar Farishta Resigned 03 August 2023 Dr. Hamid Manji Resigned 03 August 2023 Mr. Alireza Versi Resigned 03 August 2023
## 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 1096111) 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 282303).
## 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:
1. To propagate and promote the spiritual, educational, humanitarian teachings of the Shia IthnaAsheri Muslim faith.
2. To establish and maintain a Centre and similar places of worship for members of the charity.
3. To establish and maintain religious, educational and welfare institutions.
4. To render assistance and facilities for the performance of religious rites on the occasions of marriage and death.
5. 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.
6. To buy, lease or exchange any property necessary for the achievement of the objects and to maintain it for use.
7. Subject to any consents required by law to sell, lease or dispose of all or any part of the property of the charity.
8. 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;
Page **3** of **20**
9. Employ such staff (who shall not be members of the Executive Committee) as are necessary for the proper pursuit of the objects.
10. Co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objects or of similar charitable purposes.
11. To establish or support any charitable trusts, associations or institutions formed for all or any of the objects.
12. To appoint and constitute such advisory committees as the Executive Committee may deem necessary.
13. To undertake all such lawful things as are necessary for the achievement of the objects.
## Activities and Achievements
## Month of Ramadhan 1444 AH
The month of Ramadhan facilitated more activities within the centre where Quran classes, children activities and major other activities took place.
Daily Quran Khani was taking place virtually as well as in person dependent on the time of the week and the nature of the programme. We had regular dua recitations, the aamal programme as well as Eid Salaah being conducted for attendees at the centre. My sincere thanks to all the volunteers for making month of Ramadhan a fruitful and spiritually uplifting one.
We also had Ramadhan Girls Sleepover, the youth activities undertaken by Al Ilm ladies team and Al Askari Youths group. These activities were well attended and benefited the community.
## Iftaar as a Community
One of the highlights of month Ramadhan is being able to share an iftar together. We held 9 programmes in the month of Ramadhan where Iftar was served to the community.
## External Supported Programmes
Throughout the holy month, external organisations were continuously supported with initiatives that would benefit the community. This included collecting Food Bank items in partnership with our friends at Al-Fikr and a presentation by Al Ayn Foundation.
## Muharram 1445 AH
Muharram activities were engaging where YAZ group had outstanding sessions with the children and Al Askari organising a question and answer session with Sheikh Alihusein Datoo.
## Ashra Zainabiya
For Ashra Zainabiya and Arbaeen, we had 5 nights of Majalis. These were well attended with positive feedbacks from the community.
Page **4** of **20**
## Programmes
Whilst the lectures have been in English, we’ve also tried to keep variety by having Q&A with speakers as well as informal conversations with aalims and aalimas to keep participants engaged.
The team made efforts in bringing a wide rage of speakers throughout its term to ensure the appetite of community is fulfilled and being beneficial.
Fajr Salaah continues to be a highlight bringing warmth to the hearts in winter every Sunday morning, Thanks to Brother Rida Jichi for his continuous presence and support towards the success of these events.
Election of new office bearers was held in August 2023 and we were blessed to have a new team in place for 2023-2025 term.
## Appointment of a resident alim
During the year, the Executive Committee recruited and appointed Brother Rida Jichi as our new ‘resident alim’. Brother Rida Jichi has been leading Jumuah prayers, conducting lectures during Thursday evening and has led various activities for all groups at the centre.
## Achievements and performance
During the year the trustees as directed by its members, agreed to transfer existing used graves at Wolverton cemetery to the deceased next of kin, on the basis that they had paid for the majority of cost associated with the use of the plot.
In addition, the members decided that all plots in the future, at the point of use, would be transferred to the next of kin in exchange for the then market value of the plot.
As a result, the charity will no longer suffer any lease extension cost (as stated previously in the accounting policy relating to leasehold land – see note 1.3 in previous years’ accounts) as this will be due from the family of the respective next of kin.
As a result of the above, previously classified leasehold land cost of £26,400 which represented 40 plots at a cost of £660 has now being transferred to a new asset category named Cemetery plot asset. The leasehold land of £26,400 was previously being amortised over the life of its lease of 30 years. The accumulated depreciation as at 31.12.2022 was £7,040 leaving a net book value of £19,360.
At the balance sheet date, of the 40 plots, 12 were already used and transferred to next of kin leaving 28 which was valued at book cost of £660 and recognised as an asset under Cemetery plot asset as £18,480.
The additional amortisation charged in 2023 was done to bring the value to book cost of £18,480.
Any future disposal of the plot will result in a reduction of the book cost within Cemetery plot asset with any access amount received to be accumulated in restricted funds under Cemetery plot reserves (previously known as Cemetery recovery fund).
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The cemetery plot reserves have an inherent surplus of £16,657. The trustees will decide how best to utilise these funds in the interest of its members.
## 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.
## Future plans
## Increase Inter- and Intra-Faith events
We will continue fostering inter and intra-faith relations by working with the local community. The interfaith team has held various events during the year which includes school visit and other spiritual programs.
## 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.
Due to major works carried out in 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 2023. Unrestricted Funds are over £100,000 which leaves the charity in a sound position to explore any investment opportunities. The current team is actively seeking these opportunities and members are being informed of any developments.
## 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 £5,455 (2022: £25,211) represented by an increase of £9,580 (2022: £10,386) in Unrestricted Funds and an increase of £4,126 (2022: £14,825) in the Restricted Funds.
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## 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.
## 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:
1. Select Suitable Accounting Policies and apply them consistently;
2. Observe the methods and principles in the Charities Statement of Recommended Practice;
3. Make judgements and estimates that are reasonable and prudent;
4. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
5. 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 -----**
……………………………..
Naushad Dhanji
President
21 March 2024
**----- End of picture text -----**
**----- Start of picture text -----**
……………………………..
Asgher Sultan
Treasurer
21 March 2024
**----- 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 2023 which are set out on pages 9 to 20.
## 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’). The Trustees consider that an audit is not required for this year under the Charities Act 2011 section 144 (2) and that an Independent Examination is needed.
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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. 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.
……………………………..
21 March 2024
Sajjad Tejani FCCA Sabat Accountants Ltd Suite G1 Hartsbourne House Delta Gain Carpenders Park Watford WD19 5EF
Page **8** of **20**
## Statement of Financial Activities
For the year ended 31 December 2023
|**Notes**
**Income from:**
Donations and legacies
3
Other trading activities
4
**Total income**
**Activities:**
Charitable activities
5
Support costs
Governance costs
**Total charitable expenditure**
**Net income/(expenditure)**
Transfers between funds
**Net income/(expenditure) after**
**transfers**
**Reconciliation of funds**
Funds brought forward as at
1 January
**Funds carried forward as at **
**31 December**|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**2023**
**£**
**Total**
**2022**
**£**
89,780
35,810
125,590
118,116
14,345
-
14,345
12,831|
|---|---|
||**104,125**
**35,810**
**139,935**
**130,947**|
||(39,455)
(19,270)
(58,725)
(59,675)
(52,246)
(12,414)
(64,660)
(44,446)
(1,515)
-
(1,515)
(1,615)|
||**(93,216)**
**(31,684)**
**(124,900)**
**(105,736)**|
||10,909
4,126
15,035
25,211
(5,454)
5,454
-
-|
||**5,455**
**9,580**
**15,035**
**25,211**
101,463
816,597
918,060
892,849|
||**106,918**
**826,177**
**933,095**
**918,060**|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Page **9** of **20**
## Balance Sheet
as at 31 December 2023
|The accounts were approved by the Trustees on:
……………………………..
Naushad Dhanji
President
21 March 2024
**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**|……………………………..
Asgher Sultan
Hon. Treasurer
21 March 2024
**2023**
**£**
**2022**
**£**
643,465
654,171
34,035
23,632
1,142
390
258,696
242,160
**293,873**
**266,182**
(4,243)
(2,293)
289,630
263,889
**933,095**
**918,060**
826,177
816,597
106,918
101,463
**933,095**
**918,060**|……………………………..
Asgher Sultan
Hon. Treasurer
21 March 2024
**2023**
**£**
**2022**
**£**
643,465
654,171
34,035
23,632
1,142
390
258,696
242,160
**293,873**
**266,182**
(4,243)
(2,293)
289,630
263,889
**933,095**
**918,060**
826,177
816,597
106,918
101,463
**933,095**
**918,060**|
|---|---|---|
||**293,873**
(4,243)||
||
||
|||**918,060**|
|||816,597
101,463
**918,060**|
Page **10** of **20**
## Notes to Financial Statements for the year ended 31 December 2023
## 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.
Previously classified leasehold land cost of £26,400 which represented 40 plots at a cost of £660 has now being transferred to a new asset category named Cemetery plot asset. The leasehold land of £26,400 was previously being amortised over the life of its lease of 30 years. The accumulated depreciation as at 31.12.2022 was £7,040 leaving a net book value of £19,360.
Page **11** of **20**
## Notes to Financial Statements for the year ended 31 December 2023 _1.3 Charitable funds (cont.)_
At the balance sheet date, of the 40 plots, 12 were already used and transferred to next of kin leaving 28 which was valued at book cost of £660 and recognised as an asset under Cemetery plot asset as £18,480.
The additional amortisation charged in 2023 was done to bring the value to book cost of £18,480.
Any future disposal of the plot will result in a reduction of the book cost within Cemetery plot asset with any access amount received to be accumulated in restricted funds under Cemetery plot reserves (previously known as Cemetery recovery fund).
The cemetery plot reserves has an inherent surplus of £16,657. The trustees will decide how best to utilise these funds in the interest of its members.
## _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
Page **12** of **20**
## Notes to Financial Statements for the year ended 31 December 2023
## _1.6 Tangible fixed assets (cont.)_
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.
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.
Page **13** of **20**
## 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.
Page **14** of **20**
## Notes to Financial Statements for the year ended 31 December 2023
## 3 Donations and legacies
|General donations
Gift Aid
Muharram collections
Niyaz collections
Ramadhan collections
Aalim and other grants
WF Aid
Tafseer class income
Burial Fund - ZBS
Cemetery recovery fund
Building renovation fund
Fitra
Khums
Madressa Fund
Sadaka and Poor
Fidya
Senior citizen
Thursday dua classes
Visit my mosque
Al Askari Youth
**Sub Total**
Membership fees
**Total**|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**2023**
**£**
**Total**
**2022**
**£**
7,851
-
7,851
6,659
7,550
-
7,550
4,550
17,403
-
17,403
20,620
2,752
-
2,752
850
21,789
-
21,789
21,706
6,000
-
6,000
6,000
-
285
285
-
-
-
-
400
-
12,140
12,140
13,440
-
660
660
-
-
500
500
600
-
1,386
1,386
975
-
200
200
75
-
16,060
16,060
13,634
-
1,797
1,797
1,959
-
450
450
430
-
550
550
-
45
45
250
-
250
-
1,737
1,737|
|---|---|
||**63,595**
**35,810**
**99,405**
**91,899**
26,185
-
26,185
26,218|
||**89,780**
**35,810**
**125,590**
**118,116**|
## 4 Other Trading Activities
|Hire of hall
Tuckshop income
Car park
Interest received
**Total**|**2023**
**£**
**2022**
**£**
11,455
11,333
1,200
1,100
-
300
1,690
98|
|---|---|
||**14,345**
**12,831**|
Page **15** of **20**
## Notes to Financial Statements for the year ended 31 December 2023
## 5 Activities
|**CHARITABLE ACTIVITIES**
Aalim expenses
Niyaz and Tabarruk
Ramadhan expenses
Muharram expenses
Tafseer classes
Madrassah expenses
Burial Fund – ZBS
Senior citizen
Thursday dua classes
Al Askari Youths
Sadaka
WF Aid
Fitra, Fidya and Kafara
Visit my mosque
Youth group projects
Amort. of Wolverton Lease
**SUB TOTAL**
**SUPPORT COSTS**
Staff cost
Water rates
Light & heat
Telephone and internet
Insurances
Cleaning & maintenance
Building renovation
Sundry expenses
Depr. of Fixtures & Fittings
Depr. of Equipment
Bank charges
**SUB TOTAL**|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2023**
**£**
**Total**
**2022**
**£**
14,669
-
14,669
15,535
6,235
-
6,235
4,569
10,984
-
10,984
8,272
7,014
-
7,014
8,998
-
-
-
400
-
11,866
11,866
15,098
-
-
-
1,558
-
940
940
-
-
150
150
-
-
1,518
1,518
-
-
-
-
1,952
-
285
285
-
-
3,631
3,631
1,542
553
-
553
-
-
-
871
-
880
880
880|
|---|---|
||**39,455**
**19,270**
**58,725**
**59,675**|
||1,980
-
1,980
-
506
-
506
1,242
22,026
-
22,026
5,519
1,007
-
1,007
1,011
2,937
-
2,937
2,897
14,118
-
14,118
13,811
4,030
6,770
10,800
6,543
562
-
562
24
2,053
5,644
7,697
7,625
2,128
-
2,128
5,155
899
-
899
619|
||**52,246**
**12,414**
**64,660**
**44,446**|
Page **16** of **20**
## Notes to Financial Statements for the year ended 31 December 2023
## 5 Activities (cont.)
|**GOVERNANCE COST**
Subscriptions
Meeting expenses
Independent examination
**SUB TOTAL**
**TOTAL**|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2023**
**£**
**Total**
**2022**
**£**
435
-
435
535
-
-
-
-
1,080
-
1,080
1,080|
|---|---|
||**1,515**
**-**
**1,515**
**1,615**|
||**93,216**
**31,684**
**124,900**
**105,736**|
## 6 Trustees
None of the Trustees (nor anyone connected to them) received any remuneration or benefits from the charity during the financial year (2022: nil).
No Trustees received reimbursement for costs for attending meetings and/or travelling expenses during the year (2022: nil).
## 7 Employees
The average number of employees during the year was 1 (2022: nil).
|Staff Costs|**2023**
**£**
**2022**
**£**|
|---|---|
||1,980
-|
There were no employees whose annual remuneration was £60,000 or more.
Page **17** of **20**
|Notes to Financial Statements for the year ended|Notes to Financial Statements for the year ended|Notes to Financial Statements for the year ended|Notes to Financial Statements for the year ended|Notes to Financial Statements for the year ended|31 December 2023|31 December 2023|31 December 2023||
|---|---|---|---|---|---|---|---|---|
|Tangible Fixed Assets|||||||||
||**Freehold Land**||**Leasehold**|**Cemetery**|||**Fixtures and**||
||**& Building**||**Land**|**plot asset**||**Equipment**|**Fittings**|**Total**|
||**£**||**£**|**£**||**£**|**£**|**£**|
|**Cost**|||||||||
|As at 1 January 2023|608,512||26,400||-|25,782|45,199|705,893|
|Additions||-|-||-|-|-|-|
|Transfer||-|(26,400)|26,400||
-|-|-|
|As at 31 December 2023|**608,512**||-|**26,400**||**25,782**|**45,199**|**697,973**|
|**Depreciation and**|||||||||
|**Impairment**|||||||||
|As at 1 January 2023||-|7,040||-|21,607|23,075|51,722|
|Charge for the year||-|880||-|2,128|7,698|10,705|
|Write back on transfer||-|(7,920)|7,920||||-|
|As at 31 December 2023||**-**|**-**|**7,920**||**23,735**|**30,773**|**62,427**|
||||||||||
|**Balance at 1 January 2023**|**608,512**||**19,360**||-|**4,175**|**22,124**|**654,171**|
||||||||||
|**Balance at 31 December**
**2023**|**608,512**||**-**|**18,480**||**2,047**|**14,426**|**643,465**|
|he land and building comprise of the freehold property at KSI Muslim|||||Community of Milton Keynes.||||
|he Trustees consider that the|market value of land and buildings is in excess of its book value.||||||||
|easehold land comprises of burial plots at||Wolverton Cemetery which||||has now been transferred to|||
|emetery plot asset (see note|1.3 above). The Trustees believe that the market value of the plots in in||||||||
|xcess of its book value.|||||||||
||||||||Page**18**of**20**||
## Notes to Financial Statements for the year ended 31 December 2023
## 8 Tangible Fixed Assets
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 which has now been transferred to Cemetery plot asset (see note 1.3 above). The Trustees believe that the market value of the plots in in excess of its book value.
## Notes to Financial Statements for the year ended 31 December 2023
## 9 Debtors
|**Amounts falling due within one year**
Outstanding subscriptions and other commitments
Other Debtors
Prepayments and Accrued Income
**Total**
Other debtors mainly consist of Gift Aid balance claimable.
10 Stock
Coffins
**Total**
11 Creditors
**Amounts falling due within one year**
Deposits held
Other creditors
Accruals
**Total**|**2023**
**£**
**2022**
**£**
3,228
585
29,495
21,945
1,312
1,102|
|---|---|
||**34,035**
**23,632**|
||**2023**
**£**
**2022**
**£**
1,142
390|
||**1,142**
**390**|
||**2023**
**£**
**2022**
**£**
1,950
-
506
506
1,787
1,787|
||**4,243**
**2,293**|
Accruals relate to costs incurred at year end, to be paid post year end date.
Deposits held relate to gravestone cost and future subscription payment. These are repayable on demand.
Page **19** of **20**
|Notes to Financial Statements|Notes to Financial Statements|for the|year ended 31 December 2023|year ended 31 December 2023|year ended 31 December 2023|
|---|---|---|---|---|---|
|12 Restricted Funds||||||
|||**Opening**|**Incoming**|**Resources**|**Closing**|
|||**Balance**|**Resources**|**Expended**|**Balance**|
|||**£**|**£**|**£**|**£**|
|Building Fund||608,512|-|-|608,512|
|Wolverton Cemetery|Fund|19,360|-|880|18,480|
|Cemetery plot reserves||15,997|660|-|16,657|
|Building Renovation Fund||58,929|5,954|12,414|52,469|
|Burial Fund - ZBS||74,085|12,140|-|86,225|
|Madressa Fund||32,645|16,060|11,866|36,839|
|Senior Citizens Fund||4,675|550|940|4,285|
|Fidya,Khums and Fitr|etc.|2,394|3,833|3,631|2,596|
|Thursday dua classes||-|45|150|(105)|
|Al Askari Youths||-|1,737|1,518|219|
|WF Aid||-|285|285|-|
|**Total**||**816,597**|**41,264**|**31,684**|**826,177**|
|13 Related Party Disclosures||||||
|**Related party**|**Relationship**|**2023**|**2022**|**Nature of Transaction**||
|||**£**|**£**|||
|COEJ|Affiliate|4,031|3,894|Payment of subscription, Relief Projects &||
|||||Donations (including Khums and Zakat).||
|COEJ|Affiliate|6,000|6,000|Aalim and Administrator Grant received.||
|World Federation|Affiliate|285|750|Purchase of Madrasa supplies and WF Aid.||
||||||Page**20**of**20**|