REGISTERED CHARITY NUMBER: 299621 REPORTOFTHETRUSTEESAND UNAUDITED FINANCIAL sfATEMENfs FOR TIIE YEAR EliDED 311 JUNE 2024 FOR THE MUSLIM SHIA rriir4A-ASHERI JAMAAT OF ESSEX SAAP Associates Limited Thame5 House. 2nd Floor 3 Wellington Street London SE186NY THE MUSLIM SHIA rrHNA-ASHERI JAMAAT OF ESSEX CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JllDe 2024 Report of the Trnstees Independent Ex*m5ntr'$ Report St%tement of Fin¥nel#l A￿1vItIeS B•lance Sheet Notes to ¢h¢ Flnanei•l St•tement$ 6 to 11 DetAlled St*temertt of Flnantlil Aeilvltles 12 to 13 THE MUSLIM SHIA trHNA-ASHERI JAMAAT OF ESSLX REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 June 2024 Th¢ lrnstr¢s pr¢s¢nt their report with the financi￿ ststements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Aceounting and Reporting by Chariiies-. Staiemeni of Recommended Practice applicable tts charities preparing their accounts in xcordanee with the Financial Re]x)ning Standard applicable in rhe UK and Republic of Ireland (FRS 102) (effectiv¢ l January 20191. OBJF.cfivES AND AcfiviTIES Obleetlves *rtd Alms Th¢ obj¢Llive for which the Community is es¢dblished is to advance the Is]amic Religion by all or any of th¢ following rneans.'- (al To promote the Shia Shariai of the l$lami¢ religion as interprctcd by the Shia lthna- Asheri through the Holy Mujiahid of the Shird Ithnh.Asheri both in the County of Essex Iyond. Ibl To secure the provision of Mosques aDd ImomvpJ¢s and io wovide for ihe upkeep. resiordlion and repair of iheir fabric and the mainten&nee of th¢ s¢rvi¢es therein and ￿ supply and embellish the furniture and fiuings of such Mosques and Imamvadcs. Icl To maintsin and develop the Worship arml life of the Shia lthna-Asheri. Id) To raise fvnds and invite and r¢¢¢iv¢ wnlribuiions from any person or persons whatsoever by way of sUb￿riptIon donation and otherwise provid¢d thai the Communiiy shall not undertake ¥ny pcmionc￿l trading activities in raisin8 funds for its ¢haritable objeciive. (e) To do 011 such other thing5 ￿ thall further th¢ abov¢-mentioned objKtive. Activltles During Ihe year, thc Charity conlinucd with ils aclivities. When plannin8 the aclivitie5 for the ye8r. Ihe Executive C.ommittec of Managcment con5idcrs the Charity Commission's 8uidance on public b¢n¢fii and, in pJrti¢vlar, Ihe specific guidance on chorilies for the advanccment of religion. In particular. the Executive Committee of Management provides ac(ivities that enable ordinary p¢opl¢ to live oui their faith as part of the community through worship, prayer nd developing their knowledge. STRUCTURE, GOVERNANCE AND MANAGEMENT Cpoverni*g document The charity is controlled by its 8overning dr￿uMent. • d¢ed of tn￿ and constitutes an unincorFQrnted charity. Retrultmen¢ ind •pp)Intment of tsew tn15ttes Trustees are clected from the member5 by the General t￿Y al 8 General M¢eling of the Community. Every two years one Trustcc rciires by rotation and an clectM)n 15 held. RelirinB Trustees are eligible for ￿-t1¢￿10n. Organisationgl structur¢ The Manag¢meni of ihe Community is undertsken by Executive Cornmittee of Management. which comprises nin¢ elected tnemben. The Tru5tee5 are briefed on the activities of th¢ Cornmuniry ai regular meeiings. REFERENCE AND ADMINISlliATIVE DETAILS Registered Charity number 299621 Prillcipal 9ddre55 Ali Reza Islamic Centre Regina Road Ch¢lm5ford CMI IPE THE MUSLJM SHIA ITHNA.ASHERI JAMAAT OF FSSEX REPORT OF THE TRUSTEF.S FOR THE YEAR F.NDFD JO June 21124 Trn•te R Mawii (r¢si8D¢d 20110r2023) M MiYAIi M K4>•sI M F Haji J beh￿[by. THE MUSLIM SHIA fTHNA-ASHERI jA￿T OF ESSEX NOTES TO THE FINANCIAL STATEMENIS FOR THE YEAR ENDED 30 2024 ACCOUNTING POLICIES si$ of preparing the fJn*ncial statements The financial 5tat¢ments of the charity. which is a public benefit entity under FRS 102. have been prepared kn accordance with the Charities SORP ffRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable LO thariiies pwparit)g their ac¢ounis in accordance with ihe Fina¢)¢iil Reporting Standard applicable ID th¢ UK wjd Republir of Ireland ffRS 1021 (effective l January 2019),, Financia] Reporting sts￿dard 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland, and ihe Charities Arf 2011. The financial sthterncnts have becn prepared under the historical e05t convention. Intome All in¢ome 1$ recognised itt the Siaiemcnt of Financvdl Adivitie5 once the charity has cntitlemeTht to the fund5. it is probable that the income will bc rcccivcd and ihc amount can be meLsured reliably. Expthdlture Liabilities are re¢o8Thised as expenditttye as soon &% the￿ is a lega] or construciiwe oblig￿l0ft commilling the ehariiy 10 that expendiiur¢, li is p￿babIe th* a transfer of economic bcncfiis will be required in seiilement and the amouni of ihe obligation ¢at) be measurtd rcliably. Expcndilurc is accounlcd for on an accrua]5 basis and has been ¢1￿51r1ed under hcadirhgs thal a88rc8alc all c05t related to the category. Where costs cannot bc direeily attributed io particular headings they have been allocated to actkvitie5 on a b&sis eonsistent with the use of resourees. Tangible fixed Asse¢$ Depreciation is pn)vided at the followin8 annual rates in order to write off each ￿Se1 over it5 e5tim&tcd useful Freehold PToperty FiX￿r¢S and fiitings Computer equipmeni 6 on cost 251110 on cosl 25% on co TgxAtioD The charity 15 ¢x¢mpt from lax on its tharitable activiiies. Fund sccounting Unr¢stri¢td funds be used iti X¢ord￿tr with thc charitable objectives at the discretion of thc trustce5. Restricted funds can onty b¢ used for particular restrtthed purposes wthin the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular re51ricted Purposes. Further explanaiion of the nature and puypose oleach fund 15 included in the notes to the r]nancial statemcnts. Pension costs and other post-retittment btthefits Th¢ rharity operates a defined contribution pension 5chcme. Contributions payable to the charity'5 pension scheme Ire chaTged to the Statement of FÉThancial Activiti¢s in th¢ p¢riod to whith th¢y r¢late. ntinued... THE MUSLIM SlllA trHNA-ASHERI JAMAAT OF ESSEX IYOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED30 June 2(J24 DONATIO.YS AND LEGACIES 2024 2023 Donations Gift aid 144,851 68.048 115.022 115.722 230 744 INVEsfMENf INCOME 2024 2023 Rents re¢eived Deposit a¢count intcrcst 4,755 4.550 248 4,798 TRUSTEES, REMUNERATION AND BENEFrrs Therc wcrc no trLLSt¢e5' r¢muneNion or other benefits for the year ended 30 June 2024 nor for the y¢8r ended 30 June 2023. Trustees, expenses There were M tru51ee5' expenses p?id for the year ended 30 June 2024 nor for the year ended 30 June 2023. COMPARATIVES FOR TIIE STATEMEYTOF FINANCIAL ACTIN'ITIES Unresthct¢d funds Restricted fvnds Tothl funds INCOME AIYD LYDoWME￿s FROM Donations and le8￿1¢9 191.958 38.786 230,744 Investment in¢ome Tot81 235 542 EXPENDITURE ON Raisin8 funds 12J07 41 12.907 Other Total 400 NET INCOME Tran5fer5 between fuDds 131.555 38,386 96.052 169.941 r4et movement in fund5 35,503 134,438 169,941 RECONCILIATION OF FUNDS Total fund5 brought forward 264,635 3.091.866 3J56,501 continued... THE MUSLIM SHIA ITHNA-ASHERI JAMAAT OF ESSEX OTES TO THE FINANCIAL STATEMENTS- contrnued FOR THE YEAR ENDED 30 Junt 2024 COMPARATIVES FOR THE sfATEMENT OF FINANCIAL AcrivrriES- eontlnued Unrestricted R¢stricted fund5 funds Total runds TOTAL FUNDS CARRIED FORWARD 3¢JO.138 3.226,304 3,526.442 TANGIBLE FIXED ASSETS FIxn￿e8 and riltings Freehold property Cornputer ryuipment Tota15 cosr Al l July 2023 Addi¢iorts 3.647.643 12.092 12.332 1.360 .009 3,660.984 At 30 June 2024 3 659 735 14.192 1.009 3 674 936 DEPRECIATION At l July 2023 Char8e for year 54.721 9.048 654 178 64,423 At 30 June 2024 832 NET BOOK VALUE At 30 June 2024 3 605.014 177 3 608 228 At 30 June 2023 3 592 922 355 3 596 561 No depreciation is charyed on buildin85 under constN¢tion as the cost of the buildin8 15 ahead of its produ¢¢ive U3e. SOCIAL INVESTMEiYrs Other investmenty MARKET VALUE Addrtions NET BOOK VALUE At 30 jI￿e 2024 At 30 June 2023 continlled... THE MUSLIM SHIA ￿HNA-AsHERI JAMAAT OF ESSEX NOTES TO THE FINANCIAL STATEMENTS- CODtiDved FOR THE YEAR EYDED 30 JuDe2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 T￿ation and social security Otti¥r Lr￿lL0rS 472 i) 7.YlY 471 7,919 CREDITO1￿. AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Other Creditors 10. MOVEMENT IN FUNDS Net rnovemeni in funds Transfers bemeen fuThds At 3016124 At Ino3 Unrestrieted funds General hjnd 31KI,138 126.394 (7,4921 419.040 Restricted fund$ The Coun¢il of E￿￿pean Jamaats Building Fund 4.600 (4,6001 3 238 396 3 238 396 TOTAL FUNDS 3 526 442 3 657.436 Net movement in funds. itlcludd in the above are as follows: Incoming r￿￿￿¢$ Resources expendcd Movement in funds Unrestritted futtth G¢n¢ro1 214.(A)2 (88,208) 126,394 Restrlcttd funds The Council of European Jwnaats 14(K>) 4,6¢N) TOTAL FUNDS 88 608) continued... THE MUSLIM SHIA ￿HNA-ASHERI JAMAAT OF ESSEX OTES TO THE FINANCIAL STATEMENTS- tontinved FOR TIIE YEAR ENDED 30 June 2024 io. MOTrTMENT IN FUNDS- continued Compgr*tiYe5 for movtmetyt kn fuDds Net movement nd$ Transfers between funds At 3016123 Ai Inll2 Unre5tTi¢ted funds Gencral fund 264.635 131,555 196,052) 300,138 Re$trieted funds The Council of European Jamaats Building Fund 11.2(Kl 27.186 {11,2001 107252 3 091.866 3 226 304 3.091866 38.386 96.052 3 226 304 TOTAL FUNDS 3 356 501 3 526 442 Comparotive net movement in funds, included in th¢ aiy)ve as follows: Incoming resouT¢¢S Re50urce5 expended Movemcnt in funds Unrestrleted funds Gener￿ fund 196,756 (65.201) 131,555 Restricted funds The Council of EurO￿an Jamaats Building Fund 11.6(N) 14001 11,200 400 TOTAL FUNDS A current y¢ar 12 months and prior yur 12 months Combined position is as follow5: Net movement in furtd5 Transfers b¢ttveen funds At 3016124 At inn2 Unrestrided funds Gencral fund 264,635 257,949 (103,5441 419,040 RestYi¢t¢d funds The Council of Europeat) Jamaats Building Fund 15.8 (15.800) 119344 3,238,396 3 091866 103 544 3 238 396 TOTAL FUNDS 3,356 501 300,935 3.657 436 -10- ontinued... THE MUSLIM SHIA trHNA-ASHERI JAMAAT OF ESSEX NOTKS TO THE FINAYCIAL STATEMENTS- e•ntinued FOR THE YEAR ENDED30 June2024 io. MOVEMEiYf IN FUNDS- Conti￿ued A ¢utrcnt year 12 months and prior year 12 rnonth5 combined net movemeni In fijnds. included in th¢ above are as follows= lttcoming resources Resources expended Movement in funds Unrtstricted funth General ￿nd 411.358 {153.409) 257.949 Restricted funds The Council ofEuropean Jam&ats Building Fund 16.6¢XI 27.186 (8001 15,800 800 TOTAL FUNDS 455.144 154.209) 300 935 RELATED PARTY DIsc￿sUREs There were M related pty trnn5aclions for the year ended 30 June 2024. THE MUSLIM SHIA ITHNA-ASHERI JAMAA T OF ESSEX DETAILED STATE.MENT OF FINANCIAL AcTIV￿[Es FOR THE YEAR ENDEDJllJun*2024 2024 Total funds 2023 Tot fund5 Unrestricted fulld5 Restric*d funds INCOME AND ENDOWMEYTS Don*tions Ind legaeles Donations Gift aid 139.851 68,048 144,851 68.048 115.022 207,899 5.000 212.899 230.744 Inve5tmen¢ income Rents received Deposit account int¢resi 4,755 4,755 4,550 248 Total Incoming re￿U￿t3 214.602 S,￿}0 219,602 235.S42 EXPENDITIIRE R•lslnR domAtlons *nd legideB Insurancc Eid 8ift5 and donaiion5 4,153 4.153 2,993 22,915 22,915 12,507 Supporl costs Mgnggement Ral¢s, Council Tu and water l.ight and heat Postsge and 5tatiODery Madress& expenses Marquee And Nyaz A￿lM grant and Hadya H￿1 Hirc Subscriptions Cleanrng 833 4,691 3,558 1,767 2,937 17,750 456 400 7.716 7,716 6279 3,877 16,982 6,279 3,877 16,982 400 39.448 400 39,84¥ 32 J92 FinAnce Wages P¢n5ion3 Telephone Bank char8¢5 8.678 159 568 278 8,678 159 568 278 435 214 9,683 9,683 649 This page thK5 Dot fomi wt of the Staty￿ry fillancial ststements -12- THE MUSLIM SHIA ITHNA-ASHERI JAMAAT OF ESSEX DETAILED STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 311 June 2024 2024 Total funds 2023 Total funds Unrestricted Restticted funds Fingn¢¢ Jnformatlon teehnolo Repair5 and renewals 15273 15273 7.472 Oth¢r Fixtures and fillings Computer equipment 2.107 l78 2,107 178 1,642 178 2.285 2,285 1,820 Govern#ne¢ eosts Sundri¢s Accountancy and le8ai f¢¢5 Le8al Fe¢s 82 (7,4931 82 17.493) 1.560 934 267 Total resources expended Net Incom¢ 126 394 130994 169.941 Thi5 page does not fonn wtof th¢ ￿tory financial $￿eMents -13-