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2021-03-31-accounts

02142791

Charity Registered Number:519043

The South Wales Islamic Centre

Directors' And Trustees' Report And Financial Statements

For The Year Ended 31 March 2021

NV Associates Limited Chartered Certified Accountants 168 Clare Road Grangetown Cardiff CF11 6RX

The South Wales Islamic Centre

Legal And Administrative Information

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The South Wales Islamic Centre

Directors' And Trustees' Report

For The Year Ended 31 March 2021

The Council of Management who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the unaudited financial statements for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the charity.

Structure, Governance And Management

Governing document

The charity is governed by its Memorandum and Articles of Association last amended on 15 January 2016.

Organisation

The charity is administered by a Council of Management whose members are comprised of the trustees of the charity.

Risk policy

The charity is highly dependent on donations from members of the Muslim community. However, the charity ensures that applications for relevant funding from government and other sources are made.

Objectives and activities

The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.

The object of the charity is to promote for the benefit of the Members of the Muslim Community and more particularly those who are in resident in Cardiff:

i. The advancement of the Religion of Islam.

ii. The advancement of Education, particularly in accordance with the tenets of Islam and with reference to History, Language and Culture related to Islam.

iii. The relief of poverty, sickness and distress.

Achievements And Performance

Page 1

The South Wales Islamic Centre

Directors' And Trustees' Report

For The Year Ended 31 March 2021

During the year the company has promoted, particularly for the benefit of the local Muslim community, its main objectives as set out in its Memorandum of Association.

During this year, certain transactions relating to the Yemeni Community Centre have been included in the accounts.

The Statement of Financial Activities shows a net deficit for the year of £9,986 and reserves stand at £712,294.

Financial Review

Fixed assets

Changes in fixed assets during the year are set out in the notes to the accounts.

Plans For Future Periods

The company continues to promote its main objectives in the coming year.

Trustees' Responsibilities In Relation To The Financial Statements

The trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

The South Wales Islamic Centre

Directors' And Trustees' Report

For The Year Ended 31 March 2021

This report was approved by the board of directors and trustees on 20 December 2021 and signed on its behalf.

......................................................... Daoud Salaman Trustee.

Page 3

The South Wales Islamic Centre

Statement Of Financial Activities

Detailed Analysis Of Movements In Funds

For The Year Ended 31 March 2021

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Page 8

The South Wales Islamic Centre

Notes To The Financial Statements

For The Year Ended 31 March 2021

1. Accounting Policies

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 (as updated through Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements are prepared on a going concern basis under the historical convention (modified to include certain items at fair value). The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

Turnover

Turnover comprises income from voluntary donations, membership fees, grants and miscellaneous income.

Tangible Fixed Assets And Depreciation

Tangible fixed assets are stated at cost less depreciation

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold buildings - 2% reducing balance basis Fixtures and fittings - 10 % reducing balance basis

Deferred Taxation

The committee of the Islamic Centre applied to the Charities Commission for the Centre to be accepted as a Registered Charity and was granted this status on 15 September 1987 (Charity Number: 519043).

Grants Received

Government and similar grants made towards the cost of acquiring fixed assets are taken to income and expenditure account over the useful life of the asset concerned. The amount of the grant still to be taken to income and expenditure account is shown in the Balance Sheet as a deferred credit.

Page 9

The South Wales Islamic Centre

Notes To The Financial Statements

For The Year Ended 31 March 2021

2. Turnover

Turnover is attributable solely to continuing operations and derives from voluntary donations, membership fees, grants and miscellaneous income.

3. Staff Costs

The average number of persons employed by the company, including directors, during the year was as follows:

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5. Debtors And Prepayments

Page 10

The South Wales Islamic Centre

Notes To The Financial Statements

For The Year Ended 31 March 2021

6. Creditors

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7. Tax Status

The South Wales Islamic Centre was registered as a charity on 15 September 1987.

8. Incoming Resources

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Page 11

The South Wales Islamic Centre

Notes To The Financial Statements

For The Year Ended 31 March 2021

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Page 12

Accountant's Report

To The Board Of Directors

On The Preparation Of The Unaudited Statutory Accounts Of

The South Wales Islamic Centre

For The Year Ended 31 March 2021

As described in the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages 5 to 12, and you consider that the company is exempt from an audit and a report under section 249A(2) of the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

........................................ Dated:21 December 2021 NV Associates Limited Chartered Certified Accountants 168 Clare Road Grangetown Cardiff CF11 6RX

Page 4

Company Number: 02142791

The South Wales Islamic Centre

Balance Sheet

At 31 March 2021

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For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Page 5

Company Number: 02142791

The South Wales Islamic Centre

Balance Sheet

These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006). Approved by the trustees on 20 December 2021 and signed on its behalf.

................................................... Subhi Abduljalil

The annexed notes form part of these financial statements.

Page 6

The South Wales Islamic Centre

Statement Of Financial Activities For The Year Ended 31 March 2021

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Details of Incoming resources and resources used are given in the notes to the financial statements.

Page 7

The South Wales Islamic Centre

For The Year Ended 31 March 2021

Contents

P
a
g
e
C
h
a
r
i
t
y
-
T
r
u
s
t
e
e
s		 R
e
p
o
r
t		 1
A
c
c
o
u
n
t
a
n
t
s
r
e
p
o
r
t		 F
R
S
1
0
2		 1
A		 4
B
a
l
a
n
c
e
s
h
e
e
t		 5
S
t
a
t
e
m
e
n
t
o
f
f
i
n
a
n
c
i
a
l		 a
c
t
i
v
i
t
i
e
s		 7
S
c
h
e
d
u
l
e
o
f
f
u
n
d
s		 8
N
o
t
e
s		 9