REGISTERED CHARITY NUMBER: 506755
IDAARA MAARIF - E - ISLAM
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
IDAARA MAARIF - E - ISLAM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Report of the Independent Auditors | 5 | to | 7 |
| Statement of Financial Activities | 8 | ||
| Balance Sheet | 9 | ||
| Notes to the Financial Statements | 10 | to | 18 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
IDAARA MAARIF - E - ISLAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main aims and objectives of the Charity are to promote and further the Muslim faith, which includes Islamic teaching of the Holy Quran and Fiqa Jaffaria.
Significant activities
The main activity of the Charity is that of providing a place of worship, where the community can enhance their understanding of the Muslim faith.
We are pleased that the number of attendees at the mosque are increasing year on year, bar the Covid-19 period.
Public benefit
The Trustees have had regard to the Charity Commission's guidance on public benefit.
The public is able to benefit by performing their daily and other religious duties at the premises, the charity also provides a resident clergy who is always at hand to help out with all aspects of religious matters and general advice.
Volunteers
The charity is grateful to all the volunteers who help out throughout the year and especially in the busy periods of month of Ramdhan and Muharram, who assist in cleaning and food distribution.
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The main sources of income for the Charity are, donations and legacies and through membership, as well as investment income from the Licence of the Banqueting and community centre.
Performance
We are pleased that despite the dampener that the Charity experienced during the challenging period of Covid-19, the public has now started to return to place of worship and this is evidenced in the donations and level activities that have taken place post Covid-19.
FINANCIAL REVIEW
Financial position
The Charity has suffered a deficit of £71,798 in the year (2022 Deficit £66,173). This has reduced reserves to £2,342,086 at the year end. The Charity has no defined policy for the amount of reserves it should carry but reserves are carried forward in the event of deficits being incurred in the future.
Principal funding sources
The principle funding sources have been highlighted in the above paragraph under fundraising activities.
Going concern
The Trustees have assessed the ability of the Charity to continue as a going concern and determined that there are sufficient cash balances to continue paying overheads for at least 12 months, even if income was to fall substantially.
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IDAARA MAARIF - E - ISLAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
FUTURE PLANS
The board has an initiated a review of the current facilities and services provided to our membership and the general public over the coming year. The programme will commence with a comprehensive evaluation of our current building capacity and the potential options to increase the floor space to accommodate the growing congregation and Sunday school classroom requirements.
Beyond business as usual operations, it is also the intention of the board to reduce manual and paper-based systems and embark on a digitisation drive. The modernisation and upgrade of the technical equipment providing audio and video services is long overdue as well implementing environment friendly initiatives to reduce our carbon footprint by installing energy efficient lighting systems.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The Executive Committee is elected every 2 years and Holding Trustees every 5 years. The Board of Trustees is comprised of the Executive Committee and Holding Trustees, in accordance with the governing document.
Key management remuneration
None of the trustees are remunerated for performing their roles in the Charity. Wages are paid to admin staff in line with hours worked and minimum wages legislation.
Related parties
The Charity is not holding assets on behalf of another Charity.
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees do this by reviewing the Charities records on a regular basis to identify any possible misappropriation of assets and by dealing with trusted associates in the countries that it provides support to. There is also a robust system in place to obtain detailed evidence that monies provided for projects have been spent for the required purpose.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
506755
Principal address
Regents Park Road Small Heath Birmingham West Midlands B10 0QP
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IDAARA MAARIF - E - ISLAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Mr Syed Asad Raza Executive member (resigned 21/5/2023) Mr M Ali Najafi Executive member (resigned 21/5/2023) Mr Mohammed Shah Naqvi Secretary Mr Ishtiaq Hussain Executive Member Mr Sajjad Haider Executive Member (resigned 21/5/2023) Mr Wasif Hussain shah Holding Trustee (resigned 21/5/2023) Mr Nazir Hussain Shah Holding Trustee (resigned 21/5/2023) Mr Fiada Hussain Executive Member Mr Syed Amir Abbas Naqvi Executive Member (resigned 21/5/2023) Mr Hamait Ali Information Secretary (resigned 21/5/2023) Mr Nigah Hussain Executive Member Mr Muhammad Amin Tahir Assistant treasurer Mr Dilshad Abbas Vice president (from 21/5/2023) Mr Zulfiqar Ali Executive Member Mr Ishrat Hussain Vice President (resigned 21/5/2023) Mr Ali Mohsin Assistant Secretary (resigned 21/5/2023) Mr Baqar Ali Executive Member (resigned 21/5/2023) Mr Sehrat Abbas Executive Member (resigned 21/5/2023) Mr Tauqir Hussain Shah Executive Member Mr Gulab Khan Executive Member (resigned 21/5/2023) Mr Ali Asif Holding Trustee (resigned 21/5/2023) Mr Mir Shafqat Ali Holding Trustee (resigned 21/5/2023) Mr Syed Sarfraz Hussain Holding Trustee (resigned 21/5/2023) Mr Amjad Hussain Shah President Mr Naeem Raza Sabir Treasurer (appointed 12/12/2023) Mr Haider Ali (appointed 21/6/2023) Mr Mahsoom - Abbas Shah (appointed 21/5/2023) Mr Hassan Hussain Shah (appointed 21/5/2023) Mr Hashim Hussain Shah (appointed 21/5/2023) Mr Amir Mukhtar Kazmi (appointed 21/5/2023) Mr Ali Murtaza Shah (appointed 21/5/2023) Mr Abad Ali (appointed 21/5/2023) Mr Abbas Raza Ali (appointed 21/5/2023) Mr Ali Fawad (appointed 21/5/2023)
Auditors
Shareef Statutory Auditors 4 Highlands Court Cranmore Avenue Solihull West Midlands B90 4LE
FREEHOLD PROPERTY
The Charity's property is held in trust by a number of Trustees. This is in accordance with the Charity's governing document and those trustees holding the property are referred to in the list of trustees in this report as 'Holding Trustees'. The legal ownership of the property lies with the Holding trustees but the beneficial interest lies with the Charity.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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IDAARA MAARIF - E - ISLAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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 proper accounting records which 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 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.
Approved by order of the board of trustees on 20 September 2024 and signed on its behalf by:
Mr Amjad Hussain Shah - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF IDAARA MAARIF - E - ISLAM
Opinion
We have audited the financial statements of Idaara Maarif - E - Islam (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).
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In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 Auditors' 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.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
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 this gives rise to a material misstatement in the financial statements themselves. 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
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF IDAARA MAARIF - E - ISLAM
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 a Report of the Independent Auditors 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the Charity and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and taxes, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and FRS 102. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the manipulation of exceptional items and management bias in accounting estimates. Audit procedures performed by the engagement team included, but were not limited to: - enquiries with management, and the Company's legal counsel (internal and, where relevant, external), including consideration of known or suspected instances of fraud and non-compliance with laws and regulations and examining supporting calculations where a provision has been made in respect of these; reading key correspondence with regulatory authorities in relation to compliance with certain employment laws and indirect tax matters; - understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities; - challenging assumptions and judgements made by management in their significant accounting estimates, in particular, in relation to restricted funds; - identifying and testing journal entries, in particular any journal entries posted with unusual account combinations and postings by unusual users; There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF IDAARA MAARIF - E - ISLAM
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Shareef Statutory Auditors 4 Highlands Court Cranmore Avenue Solihull West Midlands B90 4LE
20 September 2024
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IDAARA MAARIF - E - ISLAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds Charitable activities Cost of Charitable activities-Direct Expenses Other Total NET INCOME/(EXPENDITURE) Transfers between funds 12 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 143,691 123,835 5,950 273,476 20,787 330,856 - 351,643 (78,167) (21,045) (99,212) 2,340,156 2,240,944 |
Restricted funds £ 53,680 - - 53,680 - 47,311 - 47,311 6,369 21,045 27,414 73,728 101,142 |
2023 Total funds £ 197,371 123,835 5,950 327,156 20,787 378,167 - 398,954 (71,798) - (71,798) 2,413,884 2,342,086 |
2022 Total funds £ 202,953 95,532 5,050 303,535 24,906 343,602 1,200 369,708 (66,173) - (66,173) 2,480,057 2,413,884 |
|---|---|---|---|---|
The notes form part of these financial statements
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IDAARA MAARIF - E - ISLAM
BALANCE SHEET 31 DECEMBER 2023
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 9 | 1,875,585 | - | 1,875,585 | 1,922,006 | |
| CURRENT ASSETS | ||||||
| Debtors | 10 | 95,841 | - | 95,841 | 97,336 | |
| Cash at bank and in hand | 348,648 | 101,142 | 449,790 | 502,007 | ||
| 444,489 | 101,142 | 545,631 | 599,343 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 11 | (79,130) | - | (79,130) | (107,465) | |
| NET CURRENT ASSETS | 365,359 | 101,142 | 466,501 | 491,878 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 2,240,944 | 101,142 | 2,342,086 | 2,413,884 | ||
| NET ASSETS | 2,240,944 | 101,142 | 2,342,086 | 2,413,884 | ||
| FUNDS | 12 | |||||
| Unrestricted funds | 2,240,944 | 2,340,156 | ||||
| Restricted funds | 101,142 | 73,728 | ||||
| TOTAL FUNDS | 2,342,086 | 2,413,884 |
The financial statements were approved by the Board of Trustees and authorised for issue on 20 September 2024 and were signed on its behalf by:
Mr Amjad Hussain Shah - Trustee
The notes form part of these financial statements
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IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance Motor vehicles - 15% on reducing balance
Freehold property is depreciated at 2% on revalued amount but the associated land has not been depreciated.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
continued...
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IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
Financial instruments
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
continued...
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IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
Financial instruments
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
2. OTHER TRADING ACTIVITIES
3.
4.
| 2023 £ Hire of Hall 80,505 Gift Aid Income 11,050 Hall Expenses Recharge 20,643 Madrassa Collection 11,637 123,835 INVESTMENT INCOME 2023 £ Rents received 5,950 SUPPORT COSTS Governance Management costs £ £ Cost of Charitable activities-Direct Expenses 2,232 3,274 Support costs, included in the above, are as follows: |
2022 £ 75,657 6,118 1,725 12,032 |
2022 £ 75,657 6,118 1,725 12,032 |
|---|---|---|
| 95,532 | ||
| 2022 £ 5,050 Totals £ 5,506 |
||
Governance costs
| Governance costs | ||
|---|---|---|
| 2023 | 2022 | |
| Cost of | ||
| Charitable | ||
| activities-Direct | Total | |
| Expenses | activities | |
| £ | £ | |
| Auditors' remuneration | 1,200 | 1,200 |
| Bank charges | 874 | 999 |
| Accountancy | 1,200 | - |
| 3,274 | 2,199 |
continued...
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IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
5. AUDITORS' REMUNERATION
| AUDITORS' REMUNERATION | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Fees payable to the charity's auditors for the audit of the charity's financial | ||
| statements | 1,200 | 1,200 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
7. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 137,802 Other trading activities 95,532 Investment income 5,050 Total 238,384 EXPENDITURE ON Raising funds 24,906 Charitable activities Cost of Charitable activities-Direct Expenses 293,527 Other 1,200 |
2023 £ 43,893 473 44,366 2023 3 Restricted funds £ 65,151 - - 65,151 - 50,075 - |
2022 £ 42,881 398 43,279 2022 3 Total funds £ 202,953 95,532 5,050 |
||
|---|---|---|---|---|
| 303,535 | ||||
| 24,906 343,602 1,200 |
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds £ £ Total 319,633 50,075 NET INCOME/(EXPENDITURE) (81,249) 15,076 Transfers between funds (1,500) 1,500 Net movement in funds (82,749) 16,576 RECONCILIATION OF FUNDS Total funds brought forward 2,422,905 57,152 TOTAL FUNDS CARRIED FORWARD 2,340,156 73,728 9. TANGIBLE FIXED ASSETS Freehold Long Plant and Motor property leasehold machinery vehicles £ £ £ £ COST At 1 January 2023 1,985,994 224,760 154,235 18,595 Additions - - 4,341 - At 31 December 2023 1,985,994 224,760 158,576 18,595 DEPRECIATION At 1 January 2023 184,120 144,730 119,403 13,325 Charge for year 39,600 4,495 5,876 791 At 31 December 2023 223,720 149,225 125,279 14,116 NET BOOK VALUE At 31 December 2023 1,762,274 75,535 33,297 4,479 At 31 December 2022 1,801,874 80,030 34,832 5,270 |
Total funds £ 369,708 (66,173) - (66,173) 2,480,057 2,413,884 Totals £ 2,383,584 4,341 2,387,925 461,578 50,762 512,340 1,875,585 1,922,006 |
|
|---|---|---|
Included in cost or valuation of land and buildings is freehold land of £700,000 (2022 - £700,000) which is not depreciated.
The Freehold property was revalued on 7 September 2018 by an independent valuer on the basis of Open Market value.
If the Freehold property had been valued at historical cost the net book value as at 31/12/23 would have been £591.660 and the depreciation charge would have been £13,952.
The unrealised surplus of £1,404,628 on the revaluation is included in unrestricted reserves.
The legal ownership of the Freehold property currently lies with certain members of the Board of Trustees. They hold the property in trust for the Charity and the beneficial ownership lies with the Charity. See the list of trustees in the Trustees Report for a list of the relevant Trustees - referred to as Holding Trustees.
continued...
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IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
9. TANGIBLE FIXED ASSETS - continued
The trustees are in the process of transferring over the legal ownership of the property to the Charity and this should be completed shortly.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|
| Debtors (Qarz Hasana) Hall Charges Other Receivable CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and social security Other creditors |
2023 £ 20,345 60,910 14,586 95,841 2023 £ 3,392 75,738 79,130 |
2022 £ 20,345 70,267 6,724 97,336 2022 £ 5,338 102,127 |
2022 £ 20,345 70,267 6,724 |
|
| 97,336 | ||||
| 107,465 |
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Funeral fees Fitrana Other Funds Quetta/ Pak Shoda Pakistan Flood &Drought appeal Earthquake fund DAM fund ZAREE IH fund Iran fund Peshawar Appeal Afganistan Appeal Pakistan Housing Project TOTAL FUNDS |
At 1.1.23 £ 2,340,156 51,418 426 1,430 400 3,658 320 4,820 1,935 420 41 460 8,400 73,728 2,413,884 |
Net movement in funds £ (78,167) 3,305 3,321 - - (24,703) 14,286 - - - - - 10,160 6,369 (71,798) |
Transfers between funds £ (21,045) - - - - 21,045 - - - - - - - 21,045 - |
At 31.12.23 £ 2,240,944 54,723 3,747 1,430 400 - 14,606 4,820 1,935 420 41 460 18,560 |
|---|---|---|---|---|
| 101,142 | ||||
| 2,342,086 |
Page 15
continued...
IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Funeral fees Fitrana Pakistan Flood &Drought appeal Earthquake fund Pakistan Housing Project TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Funeral fees Fitrana Other Funds Quetta/ Pak Shoda Pakistan Flood &Drought appeal Earthquake fund DAM fund ZAREE IH fund Iran fund Peshawar Appeal Afganistan Appeal Pakistan Housing Project TOTAL FUNDS |
At 1.1.22 £ 2,422,905 49,388 (1,561) 1,430 400 - 320 4,820 1,935 420 - - - 57,152 2,480,057 |
Incoming resources £ 273,476 8,715 3,321 17,198 14,286 10,160 53,680 327,156 Net movement in funds £ (81,249) 2,030 487 - - 3,658 - - - - 41 460 8,400 15,076 (66,173) |
Resources expended £ (351,643) (5,410) - (41,901) - - (47,311) (398,954) Transfers between funds £ (1,500) - 1,500 - - - - - - - - - - 1,500 - |
Movement in funds £ (78,167) 3,305 3,321 (24,703) 14,286 10,160 6,369 (71,798) At 31.12.22 £ 2,340,156 51,418 426 1,430 400 3,658 320 4,820 1,935 420 41 460 8,400 73,728 2,413,884 |
||
|---|---|---|---|---|---|---|
Page 16
continued...
IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Funeral fees Fitrana Pakistan Flood &Drought appeal Peshawar Appeal Afganistan Appeal Pakistan Housing Project TOTAL FUNDS |
Incoming resources £ 238,384 3,480 2,637 23,738 13,791 2,305 19,200 65,151 303,535 |
Resources Movement expended in funds £ £ (319,633) (81,249) (1,450) 2,030 (2,150) 487 (20,080) 3,658 (13,750) 41 (1,845) 460 (10,800) 8,400 (50,075) 15,076 (369,708) (66,173) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Funeral fees Fitrana Other Funds Quetta/ Pak Shoda Pakistan Flood &Drought appeal Earthquake fund DAM fund ZAREE IH fund Iran fund Peshawar Appeal Afganistan Appeal Pakistan Housing Project TOTAL FUNDS |
At 1.1.22 £ 2,422,905 49,388 (1,561) 1,430 400 - 320 4,820 1,935 420 - - - 57,152 2,480,057 |
Net movement in funds £ (159,416) 5,335 3,808 - - (21,045) 14,286 - - - 41 460 18,560 21,445 (137,971) |
Transfers between funds £ (22,545) - 1,500 - - 21,045 - - - - - - - 22,545 - |
At 31.12.23 £ 2,240,944 54,723 3,747 1,430 400 - 14,606 4,820 1,935 420 41 460 18,560 |
|---|---|---|---|---|
| 101,142 | ||||
| 2,342,086 |
continued...
Page 17
IDAARA MAARIF - E - ISLAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Funeral fees Fitrana Pakistan Flood &Drought appeal Earthquake fund Peshawar Appeal Afganistan Appeal Pakistan Housing Project TOTAL FUNDS |
Incoming resources £ 511,860 12,195 5,958 40,936 14,286 13,791 2,305 29,360 118,831 630,691 |
Resources Movement expended in funds £ £ (671,276) (159,416) (6,860) 5,335 (2,150) 3,808 (61,981) (21,045) - 14,286 (13,750) 41 (1,845) 460 (10,800) 18,560 (97,386) 21,445 (768,662) (137,971) |
|---|---|---|
Transfers between funds
The transfer between funds of £21,045 relates to payments for the Pakistan Flood & Drought Appeal fund, which exceeded funds available. A transfer has been made from unrestricted reserves to cover the shortfall.
13. RELATED PARTY DISCLOSURES
A number of Trustees hold legal title to the Charity's property.
They have signed affidavits confirming that the beneficial ownership of the property lies with the Charity.
See Fixed asset note 8 and the Trustees Report for details.
14. PROVISION FOR LIABILITIES
The Charity has not been billed by it's gas supplier for the last 2 years. The Trustees are not able to make an estimate of the amounts that may be due and, therefore, no provision has been included in these accounts.
Page 18
IDAARA MAARIF - E - ISLAM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations & Membership Funeral Contribution Fitrana Niaz Fund Peshawar appeal Afganistan Appeal Pakistan Flood Appeal Pakistan Housing Project Syria & Turkey earthquake Other trading activities Hire of Hall Gift Aid Income Hall Expenses Recharge Madrassa Collection Investment income Rents received Total incoming resources EXPENDITURE Other trading activities Hall expenses Charitable activities Wages Pensions Flat Costs Insurance Light and heat Telephone Postage and stationery Niaz Costs Legal fees Lecturers Repairs & Maintenance Carried forward |
2023 £ 89,192 8,715 3,321 54,499 - - 17,198 10,160 14,286 197,371 80,505 11,050 20,643 11,637 123,835 5,950 327,156 20,787 43,893 473 3,464 2,357 28,885 2,281 732 76,927 2,400 34,504 15,753 211,669 |
2022 £ 81,493 3,480 2,637 56,309 13,791 2,305 23,738 19,200 - |
|---|---|---|
| 202,953 75,657 6,118 1,725 12,032 |
||
| 95,532 5,050 |
||
| 303,535 24,906 42,881 398 3,561 2,284 16,401 2,779 827 76,109 - 33,745 3,897 182,882 |
This page does not form part of the statutory financial statements
Page 19
IDAARA MAARIF - E - ISLAM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Charitable activities Brought forward Hire of Tent Motor & Travelling Expense Cleaning & Refuse Madressa costs Security Costs Cooking & catering Fitrana Burial and Funeral Costs Sundry Care Taker Peshawar Appeal Afganistan Appeal Pakistan Flood Appeal Pakistan Housing Project Licence fees Training costs Depreciation of tangible fixed assets Support costs Management Rent and rates Finance Sundries Governance costs Auditors' remuneration Bank charges Accountancy Total resources expended Net expenditure |
2023 £ 211,669 7,130 3,657 6,636 9,825 10,898 14,790 - 5,410 2,192 6,505 - - 24,551 17,350 536 750 50,762 372,661 2,232 - 1,200 874 1,200 3,274 398,954 (71,798) |
2022 £ 182,882 5,700 4,784 8,504 8,012 6,392 11,385 2,150 1,450 2,413 6,552 13,750 1,845 20,080 10,800 180 - 51,292 338,171 3,915 517 1,200 999 - 2,199 369,708 (66,173) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 20