Charity Registration Number: 294808
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 December 2024
| 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. Zaheed 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 | ||
| Page1of20 |
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 2024. 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:
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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. Naushad Dhanji Mr. Hasnain Datoo Mr. Asgher Sultan Mr. Zaheer Allarakhia Mr. Riaz Dhanji Mr. Zaheed Panjwani Dr. Mohamedsuhel Chagani
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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:
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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 and Achievements
Month of Ramadhan 1445 AH
The month of Ramadhan facilitated more activities within the Centre where Quran classes, children’s activities and major other activities took place.
Daily Quran Khani was taking place every evening at the centre. This was well attended and the community witnessed various activities undertaken by various groups within the community. We had regular dua recitations, the aamal programme as well as Eid Salaah being conducted for attendees at the centre. We express our sincere gratitude to all the volunteers for making the 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 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 by Al Ayn Foundation and special presentation from the Council of European Jamaats (CoEJ).
Muharram 1446 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 Anwar Jaffer.
Ashra Zainabiya
For Ashra Zainabiya and Arbaeen, we had 5 nights of Majalis. These gatherings were well attended, and we had members assisting at every event to ensure smooth running of programs.
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.
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.
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Achievements and performance
During the year the trustees, as approved by the members, entered into a joint agreement to purchase an investment property in Leeds.
Three similar charities to ours, headed by the Council of European Jamaats (CoEJ), entered into a joint agreement to acquire an investment property with the purpose of generating income for the charity.
The four charities were: KSI Muslim Community of Milton Keynes (the charity), The Khoja Shia IthnaAsheri Muslim Community of Metro Leeds (Leeds jamaat), The Muslim Shia Ithna-Asheri Jamaat of Essex (Essex Jamaat) and the Council of European Jamaats (CoEJ).
Each charity’s investment was represented by a share in a new limited company called, Perpetual Legacy Investments Limited (the company). Each charity held 25% of the issued shares in the company.
On 21 June 2024, the company acquired property in Leeds for a sum of £215,333. The charity’s contribution towards the acquisition was £53,834. This is reflected in note 8 in the financial statements.
The property was let out from July 2024 and as at the end of the financial year, the charity was entitled to and received £433 in income from the company. This represents the net amount after deduction of all expenses.
As reported in the previous year’s financial statements (2023), the charity no longer had a commitment to renew the lease at Wolverton cemetery as the existing used graves were transferred to the deceased next of kin. As a result of this, previously classified leasehold land cost of £26,400 which represented 40 plots at a cost of £660 was 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 31.12.2023 was £7,920 leaving a net book value of £18,480.
At the balance sheet date, (31 December 2024), of the 40 plots, 12 were already used and transferred to next of kin leaving 28 which is recorded at book cost of £660 and recognised as an asset under Cemetery plot asset as £18,480.
Any future disposal of the plot will result in a reduction of the book cost within Cemetery plot asset with any excess amount received to be accumulated in restricted funds under Cemetery plot reserves.
The cemetery plot reserves has an inherent surplus of £15,997. The trustees will decide how best to utilise these funds in the interest of its members and the charity.
Police and Security Liaison
We continue to have 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.
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Future plans
Increase outreach 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 continuous improvements to be made.
Most areas within the centre have LED bulbs for energy efficiency.
The charity pays fee to a subcontracting company to filter its waste to ensure all recyclable items are recycled.
Financial report
The Executive Committee has achieved a healthy balance sheet for year ended 31 December 2024. Unrestricted Funds are in excess of £100,000 which leaves the charity in a sound position to continue its operation for the foreseeable future. Of the £115,542 unrestricted reserves, £53,834 has been invested as detailed above. This still leaves the charity with over £60k in liquid cash to meet its day-to-day operating costs.
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 £14,915 (2023: £15,035) represented by an increase of £8,624 (2023: £5,455) in Unrestricted Funds and an increase of £6,291 (2023: £9,580) 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.
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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:
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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:
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……………………………..
Naushad Dhanji
President
17 March 2025
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……………………………..
Asgher Sultan
Treasurer
17 March 2025
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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 2024 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:
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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.
……………………………..
17 March 2025
Sajjad Tejani FCCA 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 2024
| 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 2024 £ Total 2023 £ 113,338 39,974 153,312 125,590 17,799 - 17,799 14,345 |
|---|---|
| 131,137 39,974 171,111 139,935 |
|
| (56,770) (27,091) (83,861) (58,725) (54,879) (15,216) (70,095) (64,660) (2,240) - (2,240) (1,515) |
|
| (113,889) (42,307) (156,196) (124,900) |
|
| 17,248 (2,333) 14,915 15,035 (8,624) 8,624 - - |
|
| 8,624 6,291 14,915 15,035 106,918 826,177 933,095 918,060 |
|
| 115,542 832,468 948,010 933,095 |
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 2024
| Notes Fixed assets Tangible assets and Investments 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 |
2024 £ 709,980 41,739 943 206,548 249,230 (11,200) 238,030 948,010 832,468 115,542 948,010 |
2024 £ 709,980 41,739 943 206,548 249,230 (11,200) 238,030 948,010 832,468 115,542 948,010 |
2023 £ 643,465 34,035 1,142 258,696 293,873 (4,243) 289,630 933,095 826,177 106,918 933,095 |
2023 £ 643,465 34,035 1,142 258,696 293,873 (4,243) 289,630 933,095 826,177 106,918 933,095 |
|---|---|---|---|---|
| 249,230 (11,200) |
293,873 (4,243) |
|||
| 948,010 | 933,095 | |||
| 832,468 115,542 |
826,177 106,918 |
|||
| 948,010 | 933,095 |
The accounts were approved by the Trustees on:
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……………………………..
Naushad Dhanji
President
17 March 2025
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……………………………..
Asgher Sultan
Hon. Treasurer
17 March 2025
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Page 10 of 20
Notes to Financial Statements for the year ended 31 December 2024
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 2-7 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 to charities 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 was transferred to a new asset category named Cemetery plot asset in the previous financial year. The leasehold land of £26,400 was previously being amortised over the life of its lease of 30 years. The accumulated depreciation as at 31.12.2023 was £7,920 leaving a net book value of £18,480.
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Notes to Financial Statements for the year ended 31 December 2024
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. This amount has not changed in 2024 as no plots were utilised.
Any future disposal of the plot will result in a reduction of the book cost within Cemetery plot asset with any excess 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 £15,997 (2023: £16,657). The difference relates to amount charged in 2023 which was then fully refunded at trustees’ discretion in 2024. 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:
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Notes to Financial Statements for the year ended 31 December 2024
1.6 Tangible fixed assets (cont.)
Freehold Land and Buildings Not depreciated Investment property held at fair value 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.
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.
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Notes to Financial Statements for the year ended 31 December 2024
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 2024
3 Donations and legacies
| General donations Gift Aid Muharram collections Niyaz collections Ramadhan collections Aalim and other grants WF Aid/foodbank income CoEJ funds Burial Fund - ZBS Cemetery recovery fund Building renovation fund Fitra Khums Madressa Fund Sadaka and Khums Fidya Senior citizen Thursday dua classes Visit my mosque Al Askari Youth Sub Total Membership fees Total |
Unrestricted Funds £ Restricted Funds £ Total 2024 £ Total 2023 £ 5,354 - 5,354 7,851 8,120 - 8,120 7,550 22,844 - 22,844 17,403 3,298 - 3,298 2,752 20,297 - 20,297 21,789 17,000 - 17,000 6,000 866 - 866 285 6,760 - 6,760 - - 13,710 13,710 12,140 - - - 660 - - - 500 - 1,845 1,845 1,386 - 1,000 1,000 200 - 16,621 16,621 16,060 - 850 850 1,797 - 231 231 450 - 2,250 2,250 550 - 1,152 1,152 45 241 - 241 250 - 2,315 2,315 1,737 |
|---|---|
| 84,780 39,974 124,754 99,405 28,558 - 28,558 26,218 |
|
| 113,338 39,974 153,312 125,590 |
4 Other Trading Activities
| Hire of hall Tuckshop income Income from Joint venture investment Interest received Total |
2024 £ 2023 £ 9,741 11,455 1,200 1,200 433 - 6,425 1,690 |
|---|---|
| 17,799 14,345 |
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| Notes to Financial Statements for the | Notes to Financial Statements for the | year ended 31 December | year ended 31 December | 2024 |
|---|---|---|---|---|
| 5 Activities | ||||
| Unrestricted | Restricted |
Total | Total | |
| funds | funds |
2024 | 2023 | |
| £ | £ |
£ | £ | |
| CHARITABLE ACTIVITIES | ||||
| Aalim expenses | 20,087 | - |
20,087 | 14,669 |
| Niyaz and Tabarruk | 9,244 | - |
9,244 | 6,235 |
| Ramadhan expenses | 10,847 | - |
10,847 | 10,984 |
| Muharram expenses | 9,167 | - |
9,167 | 7,014 |
| Madrassah expenses | - | 13,000 |
13,000 | 11,866 |
| Cemetery plot reserves | 660 | 660 | - | |
| Burial Fund – ZBS | - | 3,089 |
3,089 | - |
| Senior citizen | - | 3,062 |
3,062 | 940 |
| Thursday dua classes | - | 444 |
444 | 150 |
| Al Askari Youths | - | 2,534 |
2,534 | 1,518 |
| WF Aid/foodbank income | 856 | - |
856 | 285 |
| CoEJ funds | 6,295 | 6,295 | - | |
| Fitra, Fidya, sadaka &khums | - | 4,302 |
4,302 | 3,631 |
| Visit my mosque | 274 | - |
274 | 553 |
| Amort. of Wolverton Lease | - | - |
- | 880 |
| SUB TOTAL | 56,770 | 27,091 |
83,861 | 58,725 |
| SUPPORT COSTS | ||||
| Staff cost | 8,260 | - |
8,260 | 1,980 |
| Water rates | 761 | - |
761 | 506 |
| Light & heat | 26,601 | - |
26,601 | 22,026 |
| Telephone and internet | 1,871 | - |
1,871 | 1,007 |
| Insurances | 3,112 | - |
3,112 | 2,937 |
| Cleaning & maintenance | 5,904 | - |
5,904 | 14,118 |
| Building renovation | 3,226 | 7,502 |
10,728 | 10,800 |
| Sundry expenses | 200 | - |
200 | 562 |
| Depr. of Fixtures & Fittings | 1,934 | 7,714 |
9,648 | 7,697 |
| Depr. of Equipment | 2,424 | - |
2,424 | 2,128 |
| Bank charges | 586 | - |
586 | 899 |
| SUB TOTAL | 54,879 | 15,216 |
70,095 | 64,660 |
| Page16of20 |
Notes to Financial Statements for the year ended 31 December 2024
5 Activities (cont.)
| GOVERNANCE COST Subscriptions Professional fees Independent examination SUB TOTAL TOTAL |
Unrestricted funds £ Restricted funds £ Total 2024 £ Total 2023 £ 435 - 435 435 725 - 725 - 1,080 - 1,080 1,080 |
|---|---|
| 2,240 - 2,240 1,515 |
|
| 113,889 42,307 156,196 124,900 |
6 Trustees
None of the Trustees (nor anyone connected to them) received any remuneration or benefits from the charity during the financial year (2023: nil).
No Trustees received reimbursement for costs for attending meetings and/or travelling expenses during the year (2023: nil).
During the year the charity incurred IT equipment cost for £4,053 (2023: nil), this cost was fully reimbursed to Mr. Hasnain Datoo, trustee of the charity.
7 Employees
The average number of employees during the year was 1 (2023: 1).
| Staff Costs | 2024 £ 2023 £ |
|---|---|
| 8,260 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 31 | Notes to Financial Statements for the year ended 31 | Notes to Financial Statements for the year ended 31 | Notes to Financial Statements for the year ended 31 | Notes to Financial Statements for the year ended 31 | December 2024 | December 2024 | December 2024 | |
|---|---|---|---|---|---|---|---|---|
| Tangible Fixed Assets and Investment in Joint Venture | ||||||||
| Investment | ||||||||
| Freehold Land | in Joint | Cemetery | Fixtures | and | ||||
| & | Building | venture | plot asset Equipment |
Fittings | Total | |||
| £ | £ | £ | £ | £ | £ | |||
| Cost | ||||||||
| As at 1 January 2024 | 608,512 | - | 18,480 |
25,782 | 45,199 | 697,973 | ||
| Additions | - | 53,834 | - |
4,053 | 20,700 | 78,587 | ||
| As at 31 December 2024 | 608,512 | 53,834 | 18,480 | 29,835 | 65,899 | 776,560 | ||
| Depreciation and | ||||||||
| Impairment | ||||||||
| As at 1 January 2024 | - | - | - |
23,735 | 30,773 | 54,508 | ||
| Charge for the year | - | - | - |
2,424 | 9,648 | 12,072 | ||
| As at 31 December 2024 | - | - | - |
26,159 | 40,421 | 66,580 | ||
| Balance at 1 January 2024 | 608,512 | - | 18,480 | 2,047 | 14,426 | 643,465 | ||
| Balance at 31 December 2024 |
608,512 | 53,834 | 18,480 | 3,676 | 25,478 | 709,980 | ||
| he land and building comprise of | the freehold | property at | KSI Muslim Community of Milton Keynes. The | |||||
| rustees consider that the market | value of land and buildings is more than its book value. Cemetery plot | |||||||
| elates to the remaining plots | owned by the charity – see note 1.3 for further details. | |||||||
| uring the year under review, the charity, through members approval, entered into a joint | agreement | |||||||
| ith three other similar charities | to purchase property with the aim of generating income. | The charity | ||||||
| olds its 25% investment through | a company called Perpetual Legacy Investments Limited. | |||||||
| he following are the breakdown of the investment in the joint agreement: | ||||||||
| £ | ||||||||
| Purchase price | 200,000.00 | |||||||
| Stampduty | 6,000.00 | |||||||
| egal fee including land registry etc. | 9,333.80 | |||||||
| Total acquisition cost | 215,333.80 | |||||||
| £ | ||||||||
| Amount contributed by each party to the joint arrangement | 53,833.45 | |||||||
| Page18of20 |
Notes to Financial Statements for the year ended 31 December 2024 8 Tangible Fixed Assets and Investment in Joint Venture
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 more than its book value. Cemetery plot relates to the remaining plots owned by the charity – see note 1.3 for further details.
During the year under review, the charity, through members approval, entered into a joint agreement with three other similar charities to purchase property with the aim of generating income. The charity holds its 25% investment through a company called Perpetual Legacy Investments Limited.
The following are the breakdown of the investment in the joint agreement:
| Purchase price Stampduty Legal fee including land registry etc. Total acquisition cost Amount contributed by each party to the joint arrangement |
£ 200,000.00 6,000.00 9,333.80 |
|---|---|
| 215,333.80 | |
| £ 53,833.45 |
Notes to Financial Statements for the year ended 31 December 2024
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. |
2024 £ 2023 £ 2,837 3,228 37,615 29,495 1,287 1,312 |
|---|---|
| 41,739 34,035 |
|
10 Stock
| Coffins Total 11 Creditors Amounts falling due within one year Deposits held Other creditors Accruals Total |
2024 £ 2023 £ 943 1,142 |
|---|---|
| 943 1,142 |
|
| 2024 £ 2023 £ 545 1,950 506 506 10,149 1,787 |
|
| 11,200 4,243 |
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.
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Notes to Financial Statements for the year ended 31 December 2024
12 Restricted Funds
| Building Fund Wolverton Cemetery Fund Cemetery plot reserves Building Renovation Fund Burial Fund - ZBS Madressa Fund Senior Citizens Fund Fidya,Khums and Fitr etc. Thursday dua classes Al Askari Youths Total |
Opening Balance £ Incoming Resources £ Resources Expended £ Closing Balance £ 608,512 - - 608,512 18,480 - - 18,480 16,657 - 660 15,997 52,469 8,624 15,216 45,877 86,225 13,710 3,089 96,846 36,839 16,621 13,000 40,460 4,285 2,250 3,062 3,473 2,596 3,926 4,302 2,220 (105) 1,152 444 603 219 2,315 2,534 - |
|---|---|
| 826,177 48,598 42,307 832,468 |
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