Charity registration number: 700817
Masjid E Tauheedul Islam
Trustees' Report and Audited Accounts
31 December 2023
Masjid E Tauheedul Islam Contents
| Pages | |
|---|---|
| Trustees' annual report | 1-4 |
| Report of the Independent Auditors | 5-8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the accounts | 11-18 |
Masjid E Tauheedul Islam Trustees Annual Report for the year ended 31 December 2023
The trustees present their report with the audited financial statements of the charity for the year ended 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity registration number: 700817
Principle office
31 Biknell street Blackburn Lancashire BB1 7EY
Trustees
The following trustees served during the year:
Mr Faruk Ibrahim Bharucha Mr Yunus Bohra (Deceased Feb 2023) Mr Ali Mohmed Vika Mr Vali Ahmed (appointed on 01/09/23) Mr Inayat Ali (appointed on 01/09/23) Mr Dawood Patel (appointed on 01/09/23)
Auditors
Xaviers Accountants Limited Suite 3J, Recycling Lives Centre 1a Essex Street Preston PR1 1QE
Accountants
M.A.I (Accountants) Limited 7 St Andrews Street Blackburn Lancashire BB1 8AE
Bankers
Natwest Bank 35 King William Street Blackburn Lancashire BB1 7DL
1
Masjid E Tauheedul Islam Trustees’ annual report for the year ended 31 December 2023
Charity registration number: 700817
The Annual Report is fully SORP compliant and sets out how the trustees have met their obligations.
The Financial Statement is fully SORP compliant and includes the incoming resources and resources expended.
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document is as follows:
a)To Advance the Islamic religion amongst the residents of Blackburn and to teach the Islamic way of life by the faith and literature set out by the Scholars of the Islamic University of Deoband India in accordance with "Ahle -Sunnat- wal Jamaat.
b) advance education including religious education by maintaining and managing a school for girls of the Islamic faith. The activities of the Girls School as stated in the Objectives clause are now vested in the Tauheedul Education Trust.
The main activities undertaken in relation to those purpose are as follows:
The Masjid provides prayer facilities for worshippers who visit the masjid with congregational prayers taking place five times a day.
The Masjid provides religious Islamic education to school age children in the evening under the guidance of the Imaams. Nika (marriage) ceremonies and full funeral services are also provided for the local Muslim population.
The Trustees have taken into account the Charity Commission's guidance on public benefit. The activities mentioned in this report helps achieve the charity's purpose for the public benefit.
-
The Masjid provides services for the benefit of its wider community.
-
The Masjid is open for worship for all Muslims.
ACHEIVEMENTS AND PERFORMANCE
The Charity carries out a wide range of activities in pursuance of its charitable aims: The mosque remains well frequented and regular programmes are held at weekends for all sections of the community. Friday prayers are preceded by lectures by the Imaams. Over the month of Ramadan lectures are held after Asar prayers and religious talks given by local and other invited scholars. Throughout the year educational programmes on the seerah of the prophet SAW are kept on a fortnightly basis which is well frequented by the general public. Weekend free courses on Islamic Law and Tafseer classes are held for the women of the area.
Repairs to the ablution area and toilets:
During the year major repairs were carried to the ablution area and the toilets in the basement area which improved the facilities available for the children attending religious education in the evenings.
2
Masjid E Tauheedul Islam Trustees’ annual report for the year ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Masjid E Tauheedul Islam (MTI) is registered as a Charity with The Charity Commission under charity no: 700817. It is governed by constitution dated 22nd May 1988.
As stated on page 1, MTI has 6 appointed trustees. However, one of the trustees (Mr Yunus Bohra) sadly passed away during the year in February 2023. The day to day management of the Masjid’s affairs is the responsibility of the elected voluntary Executive Committee. Supporting the Executive Committee is a group of Sub Committees which manage the strategic direction of the Masjid’s activities.
The trustees would like to express their sadness and condolences at the loss of one of the trustees, Yunus Bohra. The Trust and the whole community are very grateful for the services he provided and the time he contributed for the benefit of the trust, may the Almighty grant him Jannatul Firdaus.
The trustees held title deeds in some properties owned by MTI, at the date, the report was approved. The charity is in the process of transferring some of the properties held in the trustees names to the charity's name.
Appointment of new Trustees
The trustees are responsible for the appointment of new members of the Trust Board as per historical precedence since the formation of the Trust. Three new trustees were appointed by the board as per information on page 1.
The trustees have been given training and received the necessary guidance on the duties and responsibilities of the appointment.
Volunteers
Trustees- All trustees are volunteers and receive no remuneration. The executive committee members are also dedicated volunteers and committed to serve the community on a regular basis. There are approximately 30 volunteers who make a positive contribution to various aspects of the community life in the area. All volunteers working with children are trained and vetted through appropriate checks. Other volunteers bring their skills to areas of cleaning on a daily and weekly basis, repairs and maintenance, community support, management of events. The funeral team supports the bereaved in the community by taking over the funeral arrangements. We would like to thank all our volunteers by helping us deliver our activities and bring a diverse range of skills to achieve our objectives for preparing for the life in the Hereafter and supporting to improve life in this world.
FINANCIAL REVIEW
Funds available are sufficient to permit the charity to continue in operation in the medium to long term, together with the continued support from the donors. The day to day running of the Masjid is financially supported by voluntary contributions from members of the Masjid. The Masjid has other investment properties that are rented out to generate additional income
The reserves of the Masjid have been classified as invested in endowment funds and unrestricted reserves to serve Masjid e Tauheedul Islam and its immediate and wider community. The mosque building being Waqaf property is classified as permanent endowment and therefore under the restricted funds category. Other reserves are maintained at a level where cash flow is available for upkeep and maintenance of all assets of the charity and any future expansion requirements.
There are no uncertainties about the charity continuing as a going concern. The Trustees actively review all major risks which the Charity faces and drawn up a risk assessment which is reviewed at every meeting. The Trustees are satisfied that all systems are in place and arrangements have been made to manage any risks identified.
3
Masjid E Tauheedul Islam Trustees’ annual report for the year ended 31 December 2023
Statement of trustees' responsibilities in relation to the financial statements
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 departure disclosed and explained in the financial statements;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that th 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 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.
Statement of disclosure of information to auditor
So far as the trustees are aware, there is no relevant audit information of which the charity's auditors are unaware and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant information and to establish that the charity's auditors are aware of that information.
Approved by the Trustees and signed on its behalf by:
Ali Mohmed Vika Date: 01/08/2024 Trustee
4
Masjid E Tauheedul Islam Independent Auditor's Report to the Trustees of Masjid E Tauheedul Islam Year ended 31 December 2023
Opinion
We have audited the financial statements of Masjid E Tauheedul Islam (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activities, balance sheet and the notes to the accounts, 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 31 December 2023 ,and of its incoming resources and application of resources for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
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.
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 we do not express any form of assurance conclusion thereon.
5
Masjid E Tauheedul Islam Independent Auditor's Report to the Trustees of Masjid E Tauheedul Islam
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 (Accounts and Reports) Regulations 2008 require 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
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; 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.
Auditor's 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 regulations made under section 154 of that Act.
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:
6
Masjid E Tauheedul Islam
Independent Auditor's Report to the Trustees of Masjid E Tauheedul Islam
Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:
-
We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to:
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Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
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Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
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The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
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We inspected the minutes of meetings of those charged with governance.
• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
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We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of noncompliance throughout the audit.
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We reviewed any reports made to regulators.
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We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
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We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
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In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in
making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
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 noncompliance 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.
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 auditor’s report.
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.
7
Masjid E Tauheedul Islam Independent Auditor's Report to the Trustees of Masjid E Tauheedul 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 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Xaviers Accountants Limited (Statutory Auditor) Chartered Certified Accountants & statutory auditor Suite 3J Recycling Lives Centre 1A Essex Street Preston PR1 1QE
Date: 01/08/2024
Xaviers Accountants Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
8
Masjid E Tauheedul Islam Statement of financial activities for the year ended 31 December 2023
| Notes Unrestricted Restricted Total funds funds 2023 £ £ £ Income 3 Income and endowments from: Donations and legacies 197,709 - 197,709 Investments 65,468 - 65,468 Other 3,689 - 3,689 Total 266,866 - 266,866 Expenditure 4 Expenditure on: Charitable activities (316,613) - (316,613) Net gains on investments 6 30,000 30,000 Net income/(expenditure) for the year (19,747) - (19,747) Reconciliation of funds Total funds brought forward 2,408,825 3,338,863 5,747,688 Net income/(expenditure) for the year (19,747) - (19,747) Total funds carried forward 2,389,078 3,338,863 5,727,941 |
Total 2022 £ 235,867 59,139 8,334 |
|---|---|
| 303,340 | |
| (227,704) | |
| - | |
| 75,636 | |
| 5,672,051 75,636 |
|
| 5,747,687 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
9
Masjid E Tauheedul Islam Balance Sheet At 31 December 2023
| Notes Unrestricted Restricted Total funds funds 2023 £ £ £ Fixed assets Tangible assets 5 764,118 3,338,863 4,102,981 Investments 6 1,430,000 1,430,000 2,194,118 3,338,863 5,532,981 Current assets Cash at bank and in hand 232,556 - 232,556 232,556 - 232,556 Creditors:amounts falling due within one year Trade creditors and accruals 7 (37,596) - (37,596) Net current assets 194,960 - 194,960 Net assets 2,389,078 3,338,863 5,727,941 Funds of the Charity 9 Unrestricted funds 1,901,508 - 1,901,508 Revaluation reserve 487,570 - 487,570 Endowment Waqaf funds - 3,338,863 3,338,863 Total funds 2,389,078 3,338,863 5,727,941 |
Total 2022 £ 4,111,964 1,400,000 |
|---|---|
| 5,511,964 258,003 |
|
| 258,003 (22,279) |
|
| 235,724 | |
| 5,747,688 | |
| 1,951,254 457,570 3,338,863 |
|
| 5,747,687 |
Approved by the Board of Trustees and signed on its behalf by
Faruk Bharucha Trustee
Date: 01/08/2024
10
Masjid E Tauheedul Islam Notes to the Accounts for the year ended 31 December 2023
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 31 Biknell Street, Blackburn, Lancashire, BB1 7EY.
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.
1 Accounting policies
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Going concern
There are no material uncertainties about the charity's ability to continue .
2 Fund accounting
Unrestricted funds are donations and other incoming resources receivable or generated for the charity without further specified purpose and are available as general funds.
Restricted funds are funds available for use subject to restrictions imposed by the donor or through terms of an appeal. Restricted funds may be restricted income funds, which are spent at the discretion of the trustees in furtherance of some particular aspect(s) of the objects of the charity, or they may be endowment funds, where the assets are required to be invested, or retained for actual use, rather than
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Revaluation funds - These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Income
| Income | |
|---|---|
| Recognition of | Income is included in the Statement of Financial Activities (SoFA) when the charity |
| income | becomes entitled to, and virtually certain to receive, the income and the amount of the |
| income can be measured with sufficient reliability. | |
| Donations and | Voluntary income received by way of grants, donations and gifts is included in the |
| legacies | the SoFA when receivable and only when the Charity has unconditional |
| Donated services | These are only included in income (with an equivalent amount in expenditure) |
| and facilities | where the benefit to the Charity is reasonably quantifiable, measurable and |
| i l | |
| Volunteer help | The value of any volunteer help received is not included in the accounts. |
| Investment | This is included in the financial statements when receivable. |
| income | |
| Gains/(losses) on | This includes any gain or loss resulting from revaluing investments to market |
| revaluation of | value at the end of the year. |
| investment assets |
11
Expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable and services in the furtherance of its objects, including the making of grants and activities governance costs.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from taxation on its charitable activities.
Tangible fixed assets and depreciation
All assets costing more than £1,000 are capitalised and at historic cost. Fixed assets that are part of the masjid complex including the maddresa building are not depreciated as they are considered a perpetual endowment with a usefullife of more than 50 years.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Freeholding buildings 0% Fittings and equipment 5% Straight line
The trustees are of the opinion that a depreciation charge for the Masjid buildings is not required as the buildings are maintained and the expenditure to maintain the buildings is reflected in the income and expenditure account. The buildings are also considered to have a useful life of more than 50 years, so any depreciation charge is considered immaterial.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
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 . Regular maintenance and inspection of the charity assets have not revealed any indicators that the assets were impaired.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
12
2 Statement of Financial Activities - prior year
| Income Income and endowments from: Donations and legacies Investments Other Total Expenditure on: Charitable activities Total Net income/(expenditure) for the year Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Total funds funds funds 2022 2022 2022 £ £ £ 235,867 - 235,867 59,139 - 59,139 8,334 - 8,334 |
|---|---|
| 303,340 - 303,340 |
|
| (227,704) - (227,704) |
|
| (227,704) - (227,704) |
|
| 75,636 - 75,636 |
|
| 75,636 - 75,636 2,333,188 3,338,863 5,672,051 |
|
| 2,408,824 3,338,863 5,747,687 |
13
Masjid E Tauheedul Islam Notes to the Accounts for the year ended 31 December 2023
| 3 Analysis of income Donations and legacies Donations Member contributions Madrassah income Total Income from investments Rental income Solar electricity income Total Other Interest income Other Total Total income |
Restricted Unrestricted income 2023 funds funds Total funds £ £ £ 33,109 - 33,109 81,300 - 81,300 83,300 - 83,300 197,709 - 197,709 60,600 - 60,600 4,868 - 4,868 65,468 - 65,468 2,414 - 2,414 1,275 - 1,275 3,689 - 3,689 266,866 - 266,866 |
2022 Prior year £ 35,827 78,900 121,140 |
|---|---|---|
| 235,867 | ||
| 53,273 5,866 |
||
| 59,139 | ||
| 424 7,910 |
||
| 8,334 | ||
| 303,340 |
14
| 4 | Analysis of expenditure Expenditure on charitable activities Wages and PAYE Employee pension Casual wages Examination expenses Heat and light Rates Water charges Cleaning and consumables Insurance Repairs and maintenance Rental property repairs Equipment expensed Depreciation Telephone and internet Subscriptions and license Stationery, postage and printing Sundry expenses Accountancy fees Payroll fees Legal and professional fees Auditors remuneration Interest disposal Total Total expenditure Net gains on investments Gains/(losses) on investmentproperty |
Restricted Unrestricted income 2023 funds funds Total funds £ £ £ 126,149 - 126,149 2,222 - 2,222 1,524 - 1,524 11,008 - 11,008 50,173 - 50,173 4,560 - 4,560 10,440 - 10,440 506 - 506 1,791 - 1,791 78,708 - 78,708 1,578 - 1,578 1,144 - 1,144 8,983 - 8,983 1,406 - 1,406 462 - 462 3,417 - 3,417 747 - 747 1,640 - 1,640 649 - 649 5,342 - 5,342 3,600 - 3,600 565 - 565 316,613 - 316,613 316,613 - 316,613 UnrestrictedTotal funds Unrestricted funds 2023 funds £ £ £ 30,000 30,000 - |
2022 Prior year £ 103,481 2,045 4,214 10,382 29,074 3,477 9,331 960 511 26,488 14,015 1,085 8,983 1,839 398 4,952 750 800 573 1,105 3,240 - |
|---|---|---|---|
| 227,703 | |||
| 227,703 | |||
| Total funds 2022 £ - |
15
Masjid E Tauheedul Islam Notes to the Accounts for the year ended 31 December 2023
5 Land, buildings, equipment and fittings
| Cost At 1 January 2023 At 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 31 December 2023 At 1 January 2023 |
Fittings and Total Buildings equipment £ £ £ 4,046,194 179,653 4,225,847 |
|---|---|
| 4,046,194 179,653 4,225,847 |
|
| - 113,883 113,883 - 8,983 8,983 |
|
| - 122,866 122,866 |
|
| 4,046,194 56,787 4,102,981 |
|
| 4,046,194 65,770 4,111,964 |
6 Investments
| Cost or revaluation At 1 January 2023 Additions Fair value movements At 31 December 2023 |
Investment Property £ 1,400,000 - 30,000 |
|---|---|
| 1,430,000 |
| Impairment Carrying amount At 31 December 2023 At 31 December 2022 At 1 January 2023 and 31 December 2023 |
- |
|---|---|
| 1,430,000 | |
| 1,400,000 |
All investments shown above are held at valuation.
The investment properties have been revalued by the trustees in the past. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its locations. The historic cost of the investment properties was £942,430.
| 7 Creditors Analysis of creditors: Trade creditors Accruals |
2023 £ 4,196 33,400 37,596 |
2022 £ 1,897 20,382 |
|---|---|---|
| 22,279 |
16
Masjid E Tauheedul Islam Notes to the Accounts for the year ended 31 December 2023
8 Analysis of charitable funds
| Balance bfwd | Income | Expenditure | Gains and | At 31 | |
|---|---|---|---|---|---|
| At 1 January 2023 | losses | December 2023 | |||
| £ | £ | £ | £ | £ | |
| Unrestricted funds: | |||||
| General funds | 1,951,254 | 266,866 | (316,613) | - | 1,901,507 |
| Revaluation reserve | 457,570 | - | - | 30,000 | 487,570 |
| Total funds | 2,408,824 | 266,866 | (316,613) | 30,000 | 2,389,077 |
| At | At 31 | ||||
| 1 January 2022 | December 2022 | ||||
| General funds | 1,875,618 | 303,340 | (227,704) | - | 1,951,254 |
| Revaluation reserve | 457,570 | - | - | - | 457,570 |
| Total funds | 2,333,188 | 303,340 | (227,704) | - | 2,408,824 |
| Restricted funds: | |||||
| Balance bfwd | Income | Expenditure | Gains and | At 31 | |
| At 1 January 2023 | losses | December 2023 | |||
| Endowment funds | 3,338,863 | - | - | - | 3,338,863 |
| At | At 31 | ||||
| 1 January 2022 | December 2022 | ||||
| Endowment funds | 3,338,863 | - | - | - | 3,338,863 |
Purposes and restrictions in relation to the funds:
Revaluation reserves - Represent the amount by which the investment properties exceed their historical cost
Endowment funds - Endowment Waqaf funds as applied to mosque property is a religious endowment. The properties under Waqaf endowment are dedicated to Allah SWT for public benefit on a perpetual basis. Restricted Fixed Waqaf funds cannot be gifted, granted or disposed
9 Analysis of net assets between funds : Current year
| Tangible fixed assets Investments Current assets Creditors less than 1 year Net Assets Prior year Tangible fixed assets Investments Current assets Creditors less than 1 year Net Assets |
Unrestricted Restricted Total funds funds funds 2023 £ £ £ 764,118 3,338,863 4,102,981 1,430,000 - 1,430,000 232,556 - 232,556 (37,596) - (37,596) |
|---|---|
| 2,389,078 3,338,863 5,727,941 |
|
| Unrestricted Restricted Total funds funds funds 2022 £ £ £ 773,101 3,338,863 4,111,964 1,400,000 - 1,400,000 258,003 - 258,003 (22,279) - (22,279) |
|
| 2,408,825 3,338,863 5,747,688 |
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Masjid E Tauheedul Islam Notes to the Accounts for the year ended 31 December 2023
10 Net income for the year
| Net income for the year | ||
|---|---|---|
| 2023 | 2022 | |
| This is stated after charging: | £ | £ |
| Depreciation | 8,983 | 8,983 |
| Auditors remuneration | 3,600 | 3,240 |
11 Transactions with trustees and related parties.
The trustees were not given any form of remuneration during the year in respect of their services (2022 - Nil). No expenses were reimbursed to the trustees as well (2022 - Nil).
12 Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Salaries and wages Pension costs |
2023 £ 126,149 2,222 128,370 |
2022 £ 103,480 2,045 |
|---|---|---|
| 105,525 |
No employee received emoluments of more than £60,000 in the year (2022-Nil)
The average monthly number of full time equivalent employees during the year was as follows:
| Average number of employees | 2023 Number 22 |
2022 Number 20 |
|---|---|---|
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