##
|||Page||
|---|---|---|---|
|Report ofthe Trustees|I|to|6|
|Report ofthe Independent
Auditors|7|to|9|
|Statement ofrdnancial
Activities||10||
|Balance Sheet||||
|Cash Flow Statement||12||
|Notes to the Cash Flow Statement||13||
|Notes to the Financial Statements|14|to|23|
|Detailed Statement ofFinancial Activities|24|to|25|
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|||fo|r the Year En|ded 31Au
u|st 2021|||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||Unrestricted|Restricted|Endowment|Total|Total|
||||funds|funds|fund|funds|funds|
|||Notes|K||K|K|K|
|INCOME AND ENDOWMENTS||||||||
|FROM||||||||
|Donations
and legames|||1,353,712|597,130||1,950,842|1,197,593|
|Cliaiitable
nctivilies||||||||
|Schools operations|||1,399,396|||1,399,396|1,323,556|
|Nursery
Operations|||123,295|||123,295|203,957|
|DFID||||182,324||182,324|140,487|
|Other mcome|||326,462|||326,462|291,789|
|Total|||3,202,865|779,454||3,982,319|3,157,382|
|EXPENDITURE ON||||||||
|Charitable
activities||||||||
|Schools operations|||1,390,653|||1,390,653|1,374,990|
|Orsnts and Donations|||533,720|508,036||1,041,756|926,883|
|Supportcosts|||332,845|8,950|36,613|378,408|378,565|
|Nursery
Operations|||107,745|||107,745|101,194|
|OFIO||||192,14/i||192,146|I30,211|
|Total|||2,364,963|709,132|36,613|3,110,708|2,911,843|
|NET||||||||
|INCOME/(EXPENDITURE)|||837,902|70,322|(36,613)|871,611|245,539|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward||1,999,830|(18,864)|6,160,828|8,141,794|7,896,255|
|TOTAL FUNDS CARRIED||||||||
|FORWARD|||2,837,732|51,458|6,124,215|9,013,405|8,141,794|
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|fund|funds|funds|
||tnotes|f|f|f|f|f|
|FIXEDASSETS|||||||
|Tannble
assets|11|1,67t,614||6,124,215|7,795,829|7,854,269|
|CURRENT ASSETS|||||||
|Debtors|12|149,230|64,982||214,212|185,286|
|Cash ai bank and in hand||1,438,214|19.373||1,457,587|366.750|
|||1,587,444|84,355||1,671,799|552,036|
|CREDITORS|||||||
|Amounts
(ailing due wuhin onc year|13|(421,326)|(32,897)||(454,223)|(264,511)|
|NET CURRENT ASSETS||1,166,118|51,458||1,217,576|287,525|
|TOTAL ASSETS LESS|||||||
|CURRENT LIABILITIES||2,837,732|51,458|6.124.215|9,013,405|8,141.794|
|NET ASSETS||2,837.732|51,458|6,124215|9013405|8,141,794|
|FUNDS|14||||||
|Unrcstrictcd
t'unde|||||2.837.732|1,999.830|
|Restricted
lands|||||51.458|118.864)|
|Endowment
I'unde|||||6,124.215|6,160,828|
|TOTAL FUNDS|||||9,013.405|8,141,794|
|||||for t|he Year Ended|31An nst 2021||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||I%ates|||
|Cash tlows from|operating|activities||||||
|Cash generated
1'rom operations||||||1,097,447|281,806|
|Nei cash provided|by operating||activities|||1,097,447|281,806|
|Cash flows from|investing|activities||||||
|Purchase oftangible fixed assets||||||(6,610)|(34,375)|
|Net cash used in|investing activities|||||(6,610)|(34,375)|
|Change in cash|and cash equivalents|||in the||||
|reporting
period||||||1,090,837|247,431|
|Cash and cash equivalents||at|the beginning of|||||
|the reporting
period||||||366,750|119,319|
|Cash and cash equivalents||at|the end|ofthe||||
|reporiing period||||||1,457,587|366,750|
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||8||
|Net income|for the|reporting|period (as per the Statement ofFinancial|||
|Activities)||||871,611|245,539|
|Adjnstmenls|for:|||||
|Depreciation|charges|||65,050|69,030|
|(Increase)/decrease||in debtors||(28,926)|7,796|
|Increase/(decrease)||in creditors||189,712|(40,559)|
|Net cash provided||by operations||1,097,447|281,806|
##
||At 1/9/20|Cash flow|At 31/8/21|
|---|---|---|---|
|Net cash||||
|Cash at bank and in hand|366,750|1,090,837|1,457,587|
||366,750|1,090,837|1,457,587|
|Total|366,750|1,090,837|1,457,587|
##
##
##
##
##
|Depreciation
is pro|vided
at the following
an|mial
rates in ord|er to write|offeach asset|
|---|---|---|---|---|
|Freehold properhes|in London|Cost|ofbuilding|over 50 years|
|Freehold properties|m Swansea|Cost|of building|over 25 years|
|Freehold
property|m Mancheste&|Cost|ofbuilding|over 15years|
|School Fquipment||20%|on cost||
|Fixtures
and tlttings||15/|oi& cost||
|OAice equipment||20%|on cost||
##
##
##
##
##
|DONATIONS|DONATIONS|AND LEGACIES|||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||8||
|Donations
and||Religious dues|||||1,941,457|1, 176,999|
|Gilt aid|||||||9,385|20,594|
||||||||1,950,842|I,197,593|
|INCOME FROM CHARITABLE|||ACTIVITIES||||||
||||||||2021|2020|
||||Activity||||||
|School|&Nursery Fee Income||Schools|operations|||1,345,524|1,240,013|
|School|Other Income||Schools|operations|||53,872|83,543|
|School|&Nursery Fee Income||Nursery|Operations|||123,295|203,957|
|Grant -|DFID||DFID||||182,324|140,487|
||||||||1,705,015|1,668,000|
|CHARITABLE ACTIVITIES COSTS|||||||||
|||||||Grant|||
|||||||funding of|||
|||||||activities|Support||
||||||Direct|(see note|costs (see||
||||||Costs|5)|note 6)|Totals|
|Schools operations|||||1,390,653|||1,390,653|
|Grants and Donations||||||1,041,756||1,041,756|
|Support|costs||||32,624||345,784|378,408|
|Nursery|Operauons||||107,745|||107,745|
|DF ID|||||192,146|||192,146|
||||||1,723,168|1,041,756|345,784|3,110,708|
##
##
##
##
##
##
|GRANTS P|A|YAB|L|K||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021f|2020
f|
|Grants and Donations||||||||l,t)41,756|926,883|
|The total grants paid||||to|tnstitutions|during the year were 8984,293(2020-|6879,785)|||
|SUPPORT|COSTS|||||||||
|||||||Management
f|Finance|Other
f|Totals|
|Support costs||||||26'0.385|25.691|59,708|345,784|
|Support costs,||included|||in the above, are as follows:|||||
|Management||||||||||
|||||||||2021|2020|
|||||||||Support|Total|
|||||||||costs|activities|
|Wages & salaries - Foundatton||||||||155,323|156,692|
|Rates and water||||||||76|3,191|
|),ight nnrl hnat||||||||4,780|3,201|
|Telephone||||||||297|269|
|Postage and|stanonery|||||||407|223|
|Travelling||||||||3,369|2,250|
|Sundries||||||||593|766|
|Accountancy||fees||||||22,200|22,440|
|Pubhcation|expenses|||||||16,)72||
|Repairs &Matntenance||||||||1,213|1,602|
|Subscriptions||||||||4,181|1,893|
|Subsistence||||||||438|585|
|Advertising||||||||8,205|4,860|
|Book keeping||fees||||||20,000|15,000|
|Legal &professional||||fees||||20,270|41,448|
|Bad debt|||||||||1,500|
|Prison visit|||||||||242|
|Cleantng||||||||2,861|1,298|
|||||||||260,385|257,460|
|Finance||||||||||
|||||||||2021|2020|
|||||||||Support|Total|
|||||||||costs|activities|
|Bank charges||||||||2,000|1,487|
|Foreign exchange|||loss/(gains)|||||23,691|(14,322 )|
|||||||||25,691|(12,835)|
##
##
##
##
##
|The total Wages and salaries for the year|The total Wages and salaries for the year|was as follows|||
|---|---|---|---|---|
||||31/08/21|31/08/20|
|||||I|
|Mosque|||7,300|12,834|
|School|||1,195,818|1,123,868|
|Nursery|||83,663|88,830|
|Foundation|||212,884|210,447|
||||1,499,664|1,435,979|
|The average number ofemployees|during|the year was as follows|||
||||31/08/21|31/08/20|
|Mosque|||3|2|
|School|||68|69|
|Nursery|||11|10|
|Foundation|||15|16|
||||97|97|
|No employees
received emoluments
in excess of660,000.|No employees
received emoluments
in excess of660,000.|No employees
received emoluments
in excess of660,000.|No employees
received emoluments
in excess of660,000.|||
|---|---|---|---|---|---|
|COMPARATIVES FOR THE STATEMENT OFFINANCIAL
ACTIVITIES||||||
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|fund|funds|
|||I|8|||
|INCOME|AND ENDOWMENTS FROM|||||
|Donations|and legacies|571,512|626,081||1,197,593|
|Charitable|activities|||||
|Schools operations||1,323,556|||1,323,556|
|Nursery
Operations||203,957|||203,957|
|DFID|||140,487||140,487|
|Other income||291,789|||291,789|
|Total||2,390,814|766,568||3,157,382|
##
##
|¹tes to the Financial
Statements
-continued
for the Year Ended 31Au ust 2021|¹tes to the Financial
Statements
-continued
for the Year Ended 31Au ust 2021|¹tes to the Financial
Statements
-continued
for the Year Ended 31Au ust 2021|¹tes to the Financial
Statements
-continued
for the Year Ended 31Au ust 2021|||
|---|---|---|---|---|---|
|COMPARATIVES FOR THK STATEMENT OF FINANCIAL ACTIVITIES - continued||||||
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|fund|funds|
|||t|g|I||
|FXPFNDITIIRF. ON||||||
|Charitable
activities||||||
|Schools operations||1,374,990|||1,374,990|
|Grants and Donations||311,712|615,171||926,883|
|Support costs||336,846|5,106|36,613|378,565|
|Nursery
Operations||101,194|||101,194|
|DPID|||130,211||130,211|
|Total||2,124,742|750,488|36,613|2,911,843|
|NET INCOME/(EXPENDITURE)||266,072|16,080|(36,613)|245,539|
|Transfers
between
funds||(23,814)||23,814||
|Net movement
in funds||242,258|t6,080|(12,799)|245,539|
|RECONCILIATION|OF FUNDS|||||
|Total funds brought|forward|1,757,572|(34,944)|6,173,627|7,896,255|
|TOTAL FUNDS CARRIED FORWARD||1,999,830|(18,864)|6,160,828|8,141,794|
|INTANGIBLE FIXEDASSETS||||||
||||||Trademarks|
||||||8|
|COST||||||
|At
I September 2020 and 31 August 2021|||||3,450|
|AMORTISATION||||||
|At 1 September 2020 and 31 Aagust 2021|||||3,450|
|NKT BOOK VALUE||||||
|At 31 August 2021||||||
|At 31 August 2020||||||
##
##
##
||||||Fixtures|||
|---|---|---|---|---|---|---|---|
|||Freehold|School||and|Office||
|||properties|Equipments||fittings|equipment|Totals|
||||8||8|||
|COST||||||||
|At|I September 2020|8,605,774|284,|122|294,412|511,160|9,695,468|
|Additions|||||3,652|2,958|6,610|
|At|31 August 2021|8,605,774|284,|122|298,064|514,118|9,702,078|
|DEPRECIATION||||||||
|At|1 September 2020|799,830|283,662||274,220|483,487|1,841,199|
|Charge for year||48,712|230||5,111|10,997|65,050|
|At|31 August 2021|848,542|283,892||279,331|494,484|1,906,249|
|NET BOOK VALUE||||||||
|At|31 August 2021|7,757,232||230|18,733|19,634|7,795,829|
|At|31August 2020|7,805,944|||20,192|27,673|7,854,269|
##
##
|||2821|2070|
|---|---|---|---|
||||8|
|Trade debtors||61,191|47,460|
|Other debtors||21,378|33,149|
|Inter-funds
temporary|balances|32,897|60,214|
|Prepayments||21,377|12,055|
|Accrued income||77,369|32,408|
|||214,212|185,286|
##
|CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE|YEAR||
|---|---|---|
||2021|2020|
|Trade creditors|83,526|77,052|
|Social security
and other taxes|21,029|17,286|
|Other creditors|8,283|13,804|
|Nursery
deposits|5,400|6,200|
|Wages tk Salaries|(48)||
|Inter-funds
—ALKW|(47,509)|60,214|
|Inter-fund
DFID|80,406||
|Deferred mcome|280,936|67,755|
|Accrued expenses|22,200|22,200|
||454,223|264,511|
##
##
##
|MOvEMENT
IN FU|N|DS|||||
|---|---|---|---|---|---|---|
||||||Net||
||||||movement|At|
|||||At 1/9/20|in funds|31/8/21|
|Unrestricted
funds|||||||
|General Fund||||1,842,193|756,672|2,598,865|
|Khums Sehem Imam||||157,637|81,230|238.867|
|||||1,999,830|837,902|2,837,732|
|Restricted funds|||||||
|Al-Kawthar/Orphans|&|Widows||(31,759)|80,145|48,386|
|DFID Fund||||12,895|(9,823)|3,072|
|||||(18,864)|70,322|51,458|
|Endowment
funds|||||||
|Endowment
Fund||||6,160,828|(36,613)|6,124,215|
|TOTAL FUNDS||||8,141,794|871,611|9,013,405|
|Net movement
m funds,||included|in the above are as follows:||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|Unrestricied
funds|||||||
|General Fund||||2,894,693|(2,138,02 1 )|756,672|
|Khums Sehem Imam||||308,172|(226,942)|81,230|
|||||3,202,865|(2,364,963 )|837,902|
|Restricted funds|||||||
|Khums Sehem Sadaat||||308,172|(308,172)||
|Al-Kawthar/Orphans|&|Widows||288,959|(208,814)|80,145|
|DFID Fund||||182,323|(192,146 )|(9,823)|
|||||779,454|(709,132)|70,322|
|Endowment
funds|||||||
|Endowment
Fund|||||(36,613)|(36,613)|
|TOTAL FUNDS||||3,982,319|(3,110,708)|871,611|
##
##
##
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
||||At|1/9/19|in funds|funds|31/8/20|
||||||8|8||
|Unrestricted
funds||||||||
|General Fund|||1,757,572||108,435|(23,814)|1,842,193|
|Khums Sehem Imam|||||157,637||157,637|
||||1,757,572||266,072|(23,814)|1,999,830|
|Restricted funds||||||||
|Al-Kawthar/Orphans|&Widows||(37,563)||5,804||(31,759)|
|DFID Fund||||2,619|10,276||12,895|
||||(34,944)||16,080||(18,864)|
|Endowment
funds||||||||
|Endowment
Fund|||6,173,627||(36,613)|23,814|6,160,828|
|TOTAL FUNDS|||7,896,255||245,539||8,141,794|
|Comparative
net movement||in funds, included|in the above are as follows:|||||
||||||Incoming|Resources|Movement|
||||||resources|expended|in funds|
|||||||8||
|Unrestricted
funds||||||||
|General Fund|||||2,006,129|(1,897,694 )|108,435|
|Khums
Sehem Imam|||||384,685|(227,048)|157,637|
||||||2,390,814|(2,124,742)|266,072|
|Restricted funds||||||||
|Khums
Sehem Sadaat|||||384,675|(384,675)||
|Al-Kawlhar/Orphans|&Widows||||241,406|(235,602)|5,804|
|DFID Fund|||||140,487|(130,211)|10,276|
||||||766,568|(750,488)|16,080|
|Endowment
funds||||||||
|Endowment
Fund||||||(36,613 )|(36,613)|
|TOTAL FUNDS|||||3,157,382|(2,911,843 )|245,539|
##
##
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||~IIOVClllellt|hehveen|At|
||||At|I/9/19|in funds|funds|31/8/21|
|||||||8||
|Unrestricted
funds||||||||
|General
Fund|||1,757,572||865,107|(23,814)|2,598,865|
|Khums
Sehem Imam|||||238,867||238,867|
||||1,757,572||1,103,974|(23,814)|2,837,732|
|Restricted funds||||||||
|Al-Kawthar/Orphans|&Widows||(37,563 )||85,949||48,386|
|DFID Fund||||2,619|453||3,072|
||||(34,944)||86,402||51,458|
|Endowment
funds||||||||
|Endowment
Fund|||6,173.627||(73,226)|23,814|6,124,215|
|TOTAL FUNDS|||7,896,255||1,117,150||9,013,405|
|A current year 12months||and prior year 12months|combined|net movement|in funds, included|in the above are as follows:||
||||||Incoming|Resources|Movement|
||||||resources|expended|in funds|
||||||||8|
|Unrestricted
funds||||||||
|General
Fund|||||4,900,822|(4,035,715)|865,107|
|Khums
Sehem Imam|||||692,857|(453,990)|238,867|
||||||5,593,679|(4,489,705 )|1,103,974|
|Restricted funds||||||||
|Khums
Sehem Sadaat|||||692,847|(692,847)||
|Al-Kawthar/Orphans|&|Widows|||530,365|(444,416)|85,949|
|DFID Fund|||||322,810|(322,357)|453|
||||||1,546,022|(1,459,620 )|86,402|
|Endowment
funds||||||||
|Endowment
Fund||||||(73,22G)|(73,22G )|
|TOTAL FUNDS|||||7,139,701|(6,022,551 )|1,117,150|
##
##
##
##
||Detailed|Statement ofFinancial|Statement ofFinancial|Activities|||
|---|---|---|---|---|---|---|
||il|Y|s»d a~sr A|iisii|||
||||||2021|2020|
|||||||E|
|INCOME AND ENDOWMENTS|||||||
|Donations
and legacies|||||||
|Donations
and Religious dues|||||t 94t 457|1,176,999|
|Gia aid|||||9,385|20,594|
||||||1,950,842|1,197,593|
|Charitable
activities|||||||
|School &Nursery
Fee Income|||||1,468,819|1,443,970|
|School Other Income|||||53,872|83,543|
|Grant - DFID|||||182,324|140,487|
||||||1,705,015|1,668,000|
|Other income|||||||
|Other mrnme|||||326,462|291,789|
|Total incoming
resources|||||3,982,319|3,157,382|
|EXPENDITURE|||||||
|Charitable
activities|||||||
|Misc school expenses|||||25,131|37,883|
|Printing
postage & stationery|||||6,840|13,072|
|Light and heat|||||23,355|35,269|
|Transport
and travel|||||116|184|
|Telephone|||||6,241|6,311|
|Rates|||||17,835|25,532|
|Repairs &Maintenance|||||15,291|11,972|
|Legal &Professional|||||2,460|8,125|
|Wages & salaries
—School|||||1,195,818|1,123,868|
|Bank charges and interest|||||1,937|2,016|
|Depreciation|||||5,341|5,417|
|Cleaning|||||2,370|9,769|
|Insurance|||||27,465|26,080|
|StnffTraining|||||14,491|22,334|
|Misc nursery
expenses|||||2t,282|12,163|
|Wages &Salanes - Nursery|||||83,663|88,830|
|Subscnption|||||13,660|10,045|
|School meal - expenses|||||19,657|21,395|
|Saturday
school expenses|||||25,212|38,554|
|Wages and salaries - DFID|||||64,822|66,tl90|
|Travelling
- DFID|||||600|10,821|
|Legal &prof. fees - DFID|||||68,610|52,500|
|Swansea Mosque expenses|||||5,239|5,655|
|Sermon food|||||17,618|42,039|
|iraq Expenses
—DFIV|||||48,219||
|NPAC
—DFID|||||9,895||
|Donations
to institutions|||||984,294|879,785|
|Donation payments|||||57,462|47,098|
||||||2,764,924|2,603,607|
##
##
|||for the Year Ended|31Au ust 2021||
|---|---|---|---|---|
||||2021|2020|
|||||K|
|Support costs|||||
|Management|||||
|Wages &salanes - Foundation|||155,323|156,692|
|Rates and water|||76|3,191|
|Light and heat|||4,780|3,201|
|Telephone|||297|269|
|Postage and stationery|||407|223|
|Travelling|||3,369|2,250|
|Sundries|||593|766|
|Accountancy|fees||22,200|22,440|
|Publication
expenses|||16,172||
|Repairs &Maintenance|||1,213|1,602|
|Subscriptions|||4,181|1,893|
|Subsistence|||438|585|
|Advertising|||8,205|4,860|
|Book keeping fees|||20,000|15,000|
|Legal &professional||fees|20,270|41,448|
|Bad debt||||1,500|
|Prison visit||||242|
|Cleaning|||2,861|1,298|
||||260,385|257,460|
|Finance|||||
|Bank charges|||2,000|1,487|
|Foreign exchange loss/(gains)|||23,691|(14,322)|
||||25,691|(12,835)|
|Other|||||
|Preehold property|||48,711|48,711|
|Fixtures and|fittings||10,997|14,900|
||||59,708|63,611|
|Total resources|expended||3,110,708|2,911,843|
|Net income|||871,611|245,539|