**CHARITY REGISTRATION NUMBER: 328381**
## **Imdadul Muslimeen Financial Statements**
**28 February 2021**
## **KAROLIA LIMITED**
Chartered Certified Accountants& statutory auditor Suite 28 Blackburn Enterprise Centre Furthergate Blackburn Lancashire BB1 3HQ
## **Imdadul Muslimeen**
## **Financial Statements**
## **Year ended 28 February 2021**
||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent auditor's report to the members|**7**|
|Statement of financial activities|**11**|
|Statement of financial position|**12**|
|Statement of cash flows|**13**|
|Notes to the financial statements|**14**|
## **Imdadul Muslimeen**
## **Trustees' Annual Report**
## **Year ended 28 February 2021**
The trustees present their report and the financial statements of the charity for the year ended 28 February 2021.
## **Reference and administrative details**
**Registered charity name** Imdadul Muslimeen **Charity registration number** 328381 **Principal office** 17 Dock Street Blackburn Lancashire BB1 3AT **The trustees** Abdul Rashid Ibrahim Geloo Ahmed Ibrahim Geloo Afzal Ibrahim Geloo Sirajudin Ibrahim Geloo **Auditor** Karolia Limited Chartered Certified Accountants & statutory auditor Suite 28 Blackburn Enterprise Centre Furthergate Blackburn Lancashire BB1 3HQ **Bankers** Barclays 8-14 Darwen Street Blackburn Lancashire BB2 2BZ HSBC 60 Church Street Blackburn Lancashire BB1 5AS Al Rayan Bank 601 Stockport Road Manchester M13 0RX
## **Structure, governance and management**
## **Trustees**
The trustees named on the preceding page under "Members of the Board and Professional Advisers" are all founder trustees as mentioned in the charity's Trust Deed and have all served throughout the year. The Governing Tool (Trust Deed) of the charity governs appointment of trustees.
**- 1 -**
## **Imdadul Muslimeen**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 28 February 2021**
## **Objectives and activities**
## **Objectives**
The objectives of the charity are as outlined in the charity's Governing Instrument (Trust Deed dated 5 October, 1989 approved and registered by the Charity Commission on 28 November, 1989). The countries of operation and concentration for our charitable activities are as mentioned in Part 2 of the Schedule annexed to the Trust Deed.
## **Current Activities**
Brief descriptions of charitable activities currently being conducted are;
(a) Giving donations to Muslim charitable organisations and institutions such as Mosques, Religious & Secular Schools, Orphanages, Hospitals etc. for their development and maintenance.
(b) Sponsoring poor children and orphans for their basic care and maintenance including providing them religious and secular education from elementary to advanced education through Muslim charitable organisations and institutions.
(c) Providing financial assistance to poor for food, clothing, shelter and medical treatment directly or through Muslim charitable organisations and institutions.
(d) Providing aid to relieve the suffering of people affected by disasters by providing food, shelter and medical treatment through Muslim charitable organisations and institutions.
(e) Providing regular monthly grants to widows, disabled and old age people, who have no one to provide for them, directly or through Muslim charitable organisations and institutions.
(f) Providing water facilities in villages by drilling bore-holes and fitting hand pumps for use by the general public through Muslim charitable organisations and institutions.
(g) Helping other organisations to set up and maintain orphanages & schools in villages where deemed necessary.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
**- 2 -**
## **Imdadul Muslimeen**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 28 February 2021**
## **Achievements and performance**
## **Achievements**
During this accounting period (Y/e 28.02.2021), the trustees consider that, like in the previous years, the charity has performed well. We thank and praise Allah for this and ask Him to accept our humble efforts, Ameen.
As in previous years, several orphanages, religious & secular schools, mosques, hospitals and other charitable institutions have continued to benefit financially from our charity. Widows, refugees, poor and desolate people have also been supported financially, directly and through other charitable organisations. A brief summary and breakdown of our donation activity is as below:
The total amount of donations paid out this year was £ 1,387,986. The total number of donations made was 555 to various beneficiaries in 15 different countries mainly; India, Bangladesh & Pakistan. In total, these beneficiary organisations look after approximately 250,000 orphans and poor children (boys and girls) by providing free food, accommodation and education. They also carry out relief works among the poor and destitute in their localities. As we duly keep annual progress and activity reports for all charitable organisations that we support, a better and more detailed view of these and other activities can be obtained by studying our charity's books and files.
## **Financial review**
## **Income:**
Like in the past, this year (Y/e 28.02.2021) we received £ 94,078 donation from Geloo Brothers Ltd and their connected companies, who have been major donors during the past. In addition, other company and individual donors made sizeable donations totalling £ 1,394,677. We also received £ 28,486 of net Gift Aid donations for which the total tax credit claimable from HMRC was £ 7,122. We also received £4,800 rental income for the 29 Shakeshaft Street investment property. All this resulted in the total revenue raised this year being £ 1,529,163. A total of £ 6,476 tax credit had been claimed during this accounting year.
## **Spending:**
In addition to administration costs which were £ 9,821 this year the charity spent £ 1,387,986 on charitable donations, making the total spending £ 1,397,807. This being £ 131,356 less than the total income received during the year.
## **Share Holding**
The current shareholding in Geloo Holdings Limited (new parent company of Geloo Brothers Limited), remains at 120,000 ordinary shares as at close of accounts date.
## **Reserves Policy**
As at the Y/e 28.02.2021, £ 225,634 cash reserve is being carried forward to the new accounting period. In view of the fact that incoming donations are not expected until around the month of Ramadhan in mid April 2021, this is not considered a significant cash reserve since donation payments will be ongoing before the month of Ramadhan. Also, the trustees consider that, given the nature of our work; a reasonable cash reserve should be maintained at all times to allow us to respond quickly to to emergencies where immediate relief is needed.
**- 3 -**
## **Imdadul Muslimeen**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 28 February 2021**
## **Financial review** _**(continued)**_
## **Risk Management**
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at adequate levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined the operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
As part of our due diligence in respect of above, the following are our policies:
(a) We only accept donations from U.K. donors only, which are well known U.K. Companies, U.K. registered Charities and well known persons, in case of Gift Aid Donations.
(b) We do not accept any donations in Cash or Cash deposited by any donors. We insist that our donors make their donation payments only through bank.
(c) None of our donors donate on conditions of how the donations should be used. However, they may specify areas of our ongoing charitable activities where they wish their donation to be spent. For example, Welfare and Education of Poor Children & Orphans, Relief Works, Water, etc. In spite of this, we reserve the right to still spend on any projects at our own discretion.
(e) As it is well known, Muslims have a religious obligation to pay 2.5% of one's total wealth every year to the very poor and desolate. Zakaat can only be spent on the most poor and poverty stricken people.
(f) As almost all donations that we receive are Zakaat. As a Muslim charity we have an obligation towards our donors and to our faith to spend Zakaat on eligible projects only - otherwise the religious obligation of discharging Zakaat on behalf of our donors would not be fulfilled.
As mentioned above, due to our resources being Zakaat, we are subject to very stringent religious rules and need to ensure that the money reaches the intended receipient and is spent for the intended purposes and according to the criteria for Zakaat spending.
**- 4 -**
## **Imdadul Muslimeen**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 28 February 2021**
## **Financial review** _**(continued)**_
## **Vetting and verification of donation applications**
The charity trustees are aware of the risks of funds being diverted to inappropriate activities or organisations and therefore trustees regularly keep up-to-date with the Charity Commission's guidelines and read the Charity Commission's online toolkit on a regular basis. Before any donations are approved to any organisation,they are vetted using various means including referring to SDN and consolidated List.
Organisations requesting for a donation are required to duly fill in the application form and provide supporting documents such as; (1) Audited accounts & reports of the latest date, (2) References from renowned persons in the country of the applicants and in the U.K. (3) Activity reports, project reports, photographs, video, etc. (4) Authorisation letter by the organisation (5) Personal identification of the applicant, including other information regarding its organisation, like bank account details and a copy of the certificate of registration. Before any application is approved by the trustees, all credentials are verified and contact is made with references provided. Where possible, a representative would visit the organisation and verify the facts.
In subsequent applications in the following year, organisations need to provide fresh application forms and supporting documents again, although trustees may not follow the same strict verification process as the first time applications. There are some renowned organisations in India, Pakistan & Bangladesh who provide references or recommendation letters to genuine organisations. Where applicable, the charity asks for these as supporting documents. The charity makes contact to verify the credentials. Once all the verification process is completed, trustees decide on which organisation to fund.
Dependent on the information that is provided; also the main consideration of the trustees is the number of poor children & orphans in a particular organisation providing free food, shelter and education. Applications are refused if insufficient information and supporting documents are provided, and if the applicants have no bank account in the name of their organisations or simply because the Charity has insufficient funds to make a donation. All donation applications with their supporting documents are duly filed and kept at our charity office.
## **Safeguarding Charitable Donations**
It is the strict policy of the charity to make all donation payments through bank transactions only.
Some charitable donations to organisations abroad are made through online money remittance companies which offer very competitive rates and deliver the money directly into the organisation's bank accounts within a couple of days and allows us to check the remittance status online and view and print payment reports. The charity also uses our local bank's international payment facilities for countries other than India & Bangladesh where remittance companies do not cater for.
All recipients are required to issue an official receipt and also acknowledge receipt of the money on their official letterhead, failing which their future applications do not get considered. As a result, we receive letters of acknowledgement from all recipients which are duly filed and kept at our charity office. In addition, recipient organisations are required to furnish activity and progress reports which are also filed separately.
## **Plans for future periods**
## **Future Developments**
The trustees have resolved to continue the current activities as the charity keeps receiving several appeals and requests for financial assistance from Orphanages, Mosques, Religious & Secular Schools, Hospitals and Relief Agencies. In view of the fact that we do not have sufficient money in reserve, we hope to request donations from various regular and new donors during the accounting period Y/e 28.02.2022 in order for our charity to achieve our charitable objectives during the year.
**- 5 -**
## **Imdadul Muslimeen**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 28 February 2021**
## **Trustees' responsibilities statement**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law 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 the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 26 October 2021 and signed on behalf of the board of trustees by:
Abdul Rashid Ibrahim Geloo Trustee
**- 6 -**
## **Imdadul Muslimeen**
## **Independent Auditor's Report to the Members of Imdadul Muslimeen**
## **Year ended 28 February 2021**
## **Opinion**
We have audited the financial statements of Imdadul Muslimeen (the 'charity') for the year ended 28 February 2021 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 28 February 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
**- 7 -**
## **Imdadul Muslimeen**
## **Independent Auditor's Report to the Members of Imdadul Muslimeen** _**(continued)**_
## **Year ended 28 February 2021**
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
- adequate accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
**- 8 -**
## **Imdadul Muslimeen**
## **Independent Auditor's Report to the Members of Imdadul Muslimeen** _**(continued)**_
## **Year ended 28 February 2021**
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
**- 9 -**
## **Imdadul Muslimeen**
## **Independent Auditor's Report to the Members of Imdadul Muslimeen** _**(continued)**_
## **Year ended 28 February 2021**
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Ahmed Adam Karolia (Senior Statutory Auditor)
For and on behalf of Karolia Limited Chartered Certified Accountants & statutory auditor Suite 28 Blackburn Enterprise Centre Furthergate Blackburn Lancashire BB1 3HQ
26 October 2021
**- 10 -**
## **Imdadul Muslimeen**
## **Statement of Financial Activities**
## **Year ended 28 February 2021**
||||**2021**||2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|190,953|1,333,410|**1,524,363**|1,188,274|
|Investment income|**5**|4,800|–|**4,800**|4,800|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
|**Total income**||195,753|1,333,410|**1,529,163**|1,193,074|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
|**Expenditure**||||||
|Expenditure on charitable activities|**6,7**|117,809|1,279,998|**1,397,807**|1,158,140|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
|**Total expenditure**||117,809|1,279,998|**1,397,807**|1,158,140|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
|**Net income**||77,944|53,412|**131,356**|34,934|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
|**Other recognised gains and losses**||||||
|Gains from revaluation of fixed assets||144,800|–|**144,800**|35,000|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
|**Net movement in funds**||222,744|53,412|**276,156**|69,934|
|**Reconciliation of funds**||||||
|Total funds brought forward||602,972|114,594|**717,566**|647,633|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
|**Total funds carried forward**||825,716|168,006|**993,722**|717,567|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 14 to 21 form part of these financial statements.**
**- 11 -**
## **Imdadul Muslimeen**
## **Statement of Financial Position**
## **28 February 2021**
|||**2021**||2020|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**Fixed assets**|||||
|Tangible fixed assets|**13**||**83,000**|75,000|
|Investments|**14**||**685,200**|548,400|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||||**768,200**|623,400|
|**Current assets**|||||
|Debtors|**15**|**788**||143|
|Cash at bank and in hand||**225,634**||94,924|
|||ৄৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄ|
|||**226,422**||95,067|
|**Creditors: amounts falling due within one year**|**16**|**900**||900|
|||ৄৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄ|
|**Net current assets**|||**225,522**|94,167|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total assets less current liabilities**|||**993,722**|717,567|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Net assets**|||**993,722**|717,567|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Funds of the charity**|||||
|Restricted funds|||**168,006**|114,595|
|Unrestricted funds:|||||
|Revaluation reserve||**606,401**||461,601|
|Other unrestricted income funds||**219,315**||141,371|
|||ৄৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄৄ|
|**Total unrestricted funds**||**825,716**||602,972|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total charity funds**|**17**||**993,722**
৶৶৶৶৶৶৶৶৶|717,567
৶৶৶৶৶৶৶৶৶|
These financial statements were approved by the board of trustees and authorised for issue on 26 October 2021, and are signed on behalf of the board by:
Abdul Rashid Ibrahim Geloo Trustee
**The notes on pages 14 to 21 form part of these financial statements.**
**- 12 -**
## **Imdadul Muslimeen**
## **Statement of Cash Flows**
## **Year ended 28 February 2021**
||**2021**|2020|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income|**131,356**|34,934|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|**–**|150|
|Dividends, interest and rents from investments|**(4,800)**|(4,800)|
|Accrued expenses|**–**|420|
|_Changes in:_|||
|Trade and other debtors|**(645)**|459|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|Cash generated from operations|**125,911**|31,163|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|Net cash from operating activities|**125,911**|31,163|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**Cash flows from investing activities**|||
|Dividends, interest and rents from investments|**4,800**|4,800|
|Other investing cash flow adjustment|**(1)**|1|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|Net cash from investing activities|**4,799**|4,801|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**Net increase in cash and cash equivalents**|**130,710**|35,964|
|**Cash and cash equivalents at beginning of year**|**94,924**|58,960|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|**Cash and cash equivalents at end of year**|**225,634**|94,924|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
**The notes on pages 14 to 21 form part of these financial statements.**
**- 13 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements**
## **Year ended 28 February 2021**
## **1. General information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 17 Dock Street, Blackburn, Lancashire, BB1 3AT.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Disclosure exemptions**
Disclosures in respect of financial instruments have not been presented, as there are no financial instruments.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**- 14 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
## **3. Accounting policies** _**(continued)**_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
**- 15 -**
**Imdadul Muslimeen**
**Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
## **3. Accounting policies** _**(continued)**_
## **Tangible assets** _**(continued)**_
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings & equipment - 15% reducing balance
## **Investments**
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
## **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 exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **4. Donations and legacies**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2021**|
||£|£|**£**|
|**Donations**||||
|Donations - Zakat and Sadqah|–|1,333,410|**1,333,410**|
|Donations - Lillah|190,953|–|**190,953**|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
||190,953|1,333,410|**1,524,363**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
**- 16 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
|**4.**|**Donations and legacies** **_(continued)_**|||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2020|
||||£|£|£|
||**Donations**|||||
||Donations - Zakat and Sadqah||–|1,098,832|1,098,832|
||Donations - Lillah||89,442|–|89,442|
||||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
||||89,442|1,098,832|1,188,274|
||||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
|**5.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2021**|Funds|2020|
|||£|**£**|£|£|
||Income from investment properties|4,800|**4,800**|4,800|4,800|
|||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|
|**6.**|**Expenditure on charitable activities**|**by fund type**||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2021**|
||||£|£|**£**|
||Charitable donations||107,988|1,279,998|**1,387,986**|
||Support costs||9,821|–|**9,821**|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
||||117,809|1,279,998|**1,397,807**|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2020|
||||£|£|£|
||Charitable donations||75,301|1,071,086|1,146,387|
||Support costs||11,753|–|11,753|
||||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
||||87,054|1,071,086|1,158,140|
||||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|
|**7.**|**Expenditure on charitable activities**|**by activity type**||||
|||Activities||||
|||undertaken||**Total funds**|Total fund|
|||directly Support costs||**2021**|2020|
|||£|£|**£**|£|
||Charitable donations|1,387,986|8,921|**1,396,907**|1,157,240|
||Governance costs|–|900|**900**|900|
|||ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄৄৄৄ|
|||1,387,986
৶৶৶৶৶৶৶৶৶৶৶৶|9,821
৶৶৶৶৶৶৶|**1,397,807**
৶৶৶৶৶৶৶৶৶৶৶৶|1,158,140
৶৶৶৶৶৶৶৶৶৶৶৶|
**- 17 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
## **8. Analysis of support costs**
|||Analysis of|||
|---|---|---|---|---|
|||support costs|||
|||activity 1|**Total 2021**|Total 2020|
|||£|**£**|£|
||Premises|3,591|**3,591**|6,030|
||Communications and IT|664|**664**|415|
||Finance costs|4,666|**4,666**|4,258|
||Governance costs|900|**900**|900|
||Depreciation|–|**–**|150|
|||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|||9,821|**9,821**|11,753|
|||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**9.**|**Net income**||||
||Net income is stated after charging/(crediting):||||
||||**2021**|2020|
||||**£**|£|
||Depreciation of tangible fixed assets||**–**|150|
||||৶৶৶৶|৶৶৶৶|
|**10.**|**Auditors remuneration**||||
||||**2021**|2020|
||||**£**|£|
||Fees payable for the audit of the financial statements||**900**|900|
||||৶৶৶৶|৶৶৶৶|
## **11. Staff costs**
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
## **12. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
**- 18 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
|**13.**|**Tangible fixed assets**||||
|---|---|---|---|---|
|||Land and|Fixtures and||
|||buildings|fittings|**Total**|
|||£|£|**£**|
||**Cost**||||
||At 1 March 2020|75,000|2,784|**77,784**|
||Revaluations|8,000|–|**8,000**|
|||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
||**At 28 February 2021**|83,000|2,784|**85,784**|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
||**Depreciation**||||
||**At 1 March 2020 and 28 February 2021**|–|2,784|**2,784**|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
||**Carrying amount**||||
||**At 28 February 2021**|83,000|–|**83,000**|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
||At 29 February 2020|75,000|–|75,000|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**14.**|**Investments**||||
|||||**Other**|
|||||**investments**|
|||||**£**|
||**Cost or valuation**||||
||At 1 March 2020|||**548,400**|
||Additions|||**–**|
||Fair value movements|||**136,800**|
|||||ৄৄৄৄৄৄৄৄৄ|
||**At 28 February 2021**|||**685,200**|
|||||৶৶৶৶৶৶৶৶৶|
||**Impairment**||||
||**At 1 March 2020 and 28 February 2021**|||**–**|
|||||৶৶৶৶৶৶৶৶৶|
||**Carrying amount**||||
||**At 28 February 2021**|||**685,200**|
|||||৶৶৶৶৶৶৶৶৶|
||At 29 February 2020|||548,400|
|||||৶৶৶৶৶৶৶৶৶|
||All investments shown above are held at valuation.||||
|**15.**|**Debtors**|||
|---|---|---|---|
|||**2021**|2020|
|||**£**|£|
||Prepayments and accrued income|**144**|143|
||Other debtors|**644**|–|
|||ৄৄৄৄ|ৄৄৄৄ|
|||**788**|143|
|||৶৶৶৶|৶৶৶৶|
|**16.**|**Creditors:** **amounts falling due within one year**|||
|||**2021**|2020|
|||**£**|£|
||Accruals and deferred income|**900**|900|
|||৶৶৶৶|৶৶৶৶|
**- 19 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
## **17. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||||||**At**|
||At|||Gains and|**28 February**|
||1 March 2020|Income|Expenditure|losses|**2021**|
||£|£|£|£|**£**|
|Unrestricted Fund|141,371|195,753|(117,809)|–|**219,315**|
|Revaluation reserve|461,601|–|–|144,800|**606,401**|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||602,972|195,753|(117,809)|144,800|**825,716**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||||||At|
||At|||Gains and|29 February 2|
||1 March 2019|Income|Expenditure|losses|020|
||£|£|£|£|£|
|Unrestricted Fund|134,183|94,242|(87,054)|–|141,371|
|Revaluation reserve|426,601|–|–|35,000|461,601|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||560,784|94,242|(87,054)|35,000|602,972|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Restricted funds**||||||
||||||**At**|
||At|||Gains and|**28 February**|
||1 March 2020|Income|Expenditure|losses|**2021**|
||£|£|£|£|**£**|
|Restricted Funds|114,594|1,333,410|(1,279,998)|–|**168,006**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||||||At|
||At|||Gains and|29 February 2|
||1 March 2019|Income|Expenditure|losses|020|
||£|£|£|£|£|
|Restricted Funds|86,849|1,098,832|(1,071,086)|–|114,595|
||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶৶৶৶|
**- 20 -**
## **Imdadul Muslimeen**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 28 February 2021**
## **18. Analysis of net assets between funds**
|||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|
|||Funds|Funds|**2021**|
|||£|£|**£**|
||Tangible fixed assets|83,000|–|**83,000**|
||Investments|685,200|–|**685,200**|
||Current assets|58,416|168,006|**226,422**|
||Creditors less than 1 year|(900)|–|**(900)**|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||**Net assets**|825,716|168,006|**993,722**|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2020|
|||£|£|£|
||Tangible fixed assets|75,000|–|75,000|
||Investments|548,400|–|548,400|
||Current assets|(19,527)|114,594|95,067|
||Creditors less than 1 year|(900)|–|(900)|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||**Net assets**|602,973|114,594|717,567|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**19.**|**Analysis of changes in net debt**||||
|||||**At**|
|||At 1 Mar 2020|Cash flows|**28 Feb 2021**|
|||£|£|**£**|
||Cash at bank and in hand|94,924|130,710|**225,634**|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
**- 21 -**