BELFAST ISLAMIC CENTRE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2022
CHARITY NUMBER - N1102005

BELFAST ISLAMIC CENTRE
FIAIANCIAL STA TEMENfs FOR THE YEAR ENDED 31 MARCH 2022
CONTeNT5
Page
Contents
Officers
Executive Board'5 Report
Auditor's fieport
statement of Flnancial Activitles
io
Balance Sheet
li
Notes to the Accounts
12
Page 1

BEIFAST ISLAMIC CFNTRE
FINANCIAL STA TEMEIITS FOR THE YEAR ENDEO 31 MARCH 2022
OFFICERS
BOARD
CHAIRMAN
Mr Muhammed Arshed
EXECUTIVE SECRETAR Y
Mr Ameer Ibrahim
TREASURER
Mr Hassan Farooq
OTHER BOARD MEM8ERS
Dr Wasif Naeem
Dr Imran Yousuf
Dr Sadaf Gul (commenced January 20221
Mr Nabir Othman
Mr Shoaib Tareen
TRUSTEES
Dr Shahid Tariq
Mr Louay Maieed
Dr Yousef Hannore
Dr Saleem Khan Tèreen
Dr Raja Harun
EMPLOYEES
Mr Anwar Madv
Mrs Pashmina Kashlf
Ilona Choudhary (commenced Fèbruary 20221
Sh Waleed Abdelfatlah
Ms Natsmi Catnpbell (left November 20211
AUDITOR
Min5hull & Co
Chartered Accountants
19 Crescent Business Park
LISBURN
BT28 2GN
8ANKERS
8ank of Ireland
6elfast City Branch
BELFAST
BTI 2BA
Danske Bank
Donegall squa￿ West
BELFAST
BTI 6JS
HEAD OFFICE
38 Wellinglon Park
BELFAST
BT9 6DN
Page 2

BELFAsf ISLAMIC CENTRE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
BOARD REPORT
The board p￿sent their annual report together with the financial Statements for the year to 31
March 2022.
AIMS AND OBJECTIVES
The Belfast Islamic Centre wa5 established in 1978 by a group of Muslims from the local community.
Today the centre acts not only as a place of worship but also a5 a communlty centre, social-cultural centre,
resource centre, advice centre and day centre.
The Belfast 151amic Centre alms t
Run the Mosque, provide religious services, instrtjctions ènd guidance to the Muslim
communiry
Provtde education for all sections of the community in order to lead Ilfe in the
current rnulti-CLtltural society as a Muslim, as an ideal citizen and to aid integration
Provlde soclal and cultural services in order to preserve the community identity
Provide a guidance and resource service to educational institutions, hospitals and
prlsons and generally to all communities irrespective of their religion
Provide an advisory service to solve educational, cultural and social problems
Provide social welfare services to the various groups of the community
The Centre a150 provides
Children's educatlon through its various schools
Youth development through activities and semlnars
Social and recreational programmes for women
Adult education
EXECUTIVE BOARD
The policy and general tnanagement OF the affairs of Belfast Islamic Centre shall be directed by the
Executive Board drawn from registered members who have been resident in Northern Irelènd
for at least one year and have the intention to reside for at least another two years, and are reputably
practising Muslims.
The Board shall meet at least once per month - five members being required for a quorum. A
member will be deemed to have resigned from the Board if not in attendance for three
consecutive meeting5 Without supplying notice.
RESULTS
The Net Incomlng Resources for the year amounted to
£61,713
Page 3

BELFAST ISLAMIC CENfRE
FINAAICIAL STA TEMENfs FOR THE YEAR ENDED 31 MARCH 2022
BOARD REPORT
(continued)
TRUSTEES
All the property of the Centre, whatever or however, shall be vested in at least five and preferablv
seven appointed trustees as joint tenants on behalf of the centre.
The trustees are appointed by the Office Bearer5. the Executive Board and the rest of the
Trustees from among the Full Members of the Centre who have been permanent resldents of Northern
Ireland for at least five years and a￿ well respected members of the community.
The Trustees shall hold office lor four year5 each ierrn and are eligible for re-appointment for another
term. Alter two conecutive terms a Trustee will not be entitled t0 Serve again as Trustee until a period of
at least six years ha5 elapsed.
If the office of trustee should fall vacant, another Trustee shall be appointed by the mLJtual agreement of
the remaining Trustees and the Executive Board.
The post of frustee shall be vacated if the Tru5tee'.
(al Resign5 from the trusteeshipi
Ibl Fails in his duties as determined by the remaining Trustees and the Executive Board;
(cl Dies or 5eaves Northern Ireland,. or
{d) Is dismissed from his posltlon if he commit5 an immoral act or is convicted of a crfme.
The Trustees may deal with the property 50 vested in them by way of sale, exchange or lease, such d1￿ctIOn
being given by resolution of the Executive Board of the Centre and when so passed shall in favour OF
the pvrchaser, exchange or lease be binding upon member5 ()f the Centre.
The Trustees shall meet perlodically at least four times a year and shall nominate among theffl5elves a chair
person. They shall also nominate one or more Trustee to attend rhe Executive Board meeting if and
when invited.
The Trustees collectively shall have the authority to call a General Neeting of the Centre whenever there is..
{a) Violation of the Constitution of the Centre,.
(bl A serious dispute between the Executive Board ènd members of the Centre which
could not be resolved amicably;
Icl A major dispute among members or the Executive Board which cannot be resolved. or
Idl Whenever a by-election is deemed nece55ary.
The Trustees shall officiate as Election Committee during the election of the Executive Board.
MEMBeRSHIP
Membership is open to Individuals or organisatlons who..
la) apply to the Centre ill the form required by the Executive Board,. and
{b) a￿ approved by the Executlve Board.
Every application For admission shall be considered by the Executive Board at their first meeting after
it was made, or as soon thereafter as 15 pra¢ticable. There shall be no unlawful discrimination.
{al The Executive Board may only refuse an application for membership if. acting
reasonably and properly, they consider it to be in the best interests of the Centre to refuse
the application.
Page 4

BELFAST ISLAMIC CENTRE
FINAJVCIAL sfA TEMENTS FOR THE YEAR EJVDED 31 MARCH 2022
BOARD REPORT
(continued)
MEMBERSHIP
Ibl The Executive Board must inform the applicant in writing of the reasons for the ￿fUSal
within twenty-one days of the decision.
Icl The Executive Board must consider any written representations the applicant may
make about the decision. The Executive Board's decision Following any written
representations must be notified to the applicant in writing but shall be final.
Membership is not transferable.
The Centre must keep a reglster of names and addresses of the member5 and should periodically update It.
CLASSES OF MEMBERSHIP
The rights and obligatlons of the different classes of membership shall be recorded in the register OF
members. There shall be five classes of mernbership-
lal Centre Metnbers.. All Muslims are welcome to Use the Centre facilities, take part in the
artivities at the Centre and apply to become Centre Members. Persons wishing to become
Centre Members shall make an application for membership to the Executive Board
in the agreed format. Centre Members will not be entitled to attend, speak at or v(>te at
General Meetln95 or elections or stand for election to the Executive Board or trustees.
Ibl Full Members.. All Muslim5 are entitled to become Full Members of the Centre provided they..
i) Have been Centre Metnbers or a youth member for a period of at least twelve months;
ill Are aged 17 years or over-
iiil Are currently unconditionally resident in Northern Ireland and have been resident In
Northern Ereland ft)r a period of at least two years- and have made an application to the
Executive Board In the agreed format and have paid to the Centre any annual
membership fees which may be due. Full Members of the Centre will be entitled to atrend,
speak and vote at elections and at General Meetings ol the Centre. Only Full Members of the
Centre and practising Muslims of good character shall be entitled to stand for election to the
Executive 8oard or as Trustees of the Centre.
Ic) Affiliète Members.. Any organisatÉon active within the area of beneflt, whether Vf>luntary or
sratutory, which subscribes to the objects of the Centre may apply to the Executive BDard
to become an Affiliate Member. If such application is accepted by the Executive Board the
Affiliate Member will be entitled, by prior written notification to the Secretary, io notninate
an authorised representative who may attend and speak al General Meetin9s as observer but
with no voting power.
Idl Honorary Mernber5.' Any well-wisher or person who, in the opinion of the Executive Board,
has special knowledge or experience to offer to the Centre may become an Honorary Member.
Honorary Membership of the Centre may also be granted to former Centre Members or former
Full Members who no longer reside in Northern Ireland. Honorary Metnbers will be entitled
to attend and speak at General Meetings of the Centre, but will nol be entitled to vote.
{e} Youth Members: All Muslims over the age of 12 and under the age of 17 are entitled to
become Youth Members of the Belfast Islamic Centre. Youth Nembers must have made
an application to the Executive Board in the agreed format and have paid to the Centre
any annual membership fee that may be dlte. Youth Members will not be entitled to attend,
speak at or vote at General Meetlngs or stand for election for Executive Board.
Page 5

BELFAST ISLAMIC CENTRE
FINAAICIAL STA TEMENfs FOR THE YEAR ENDED 31 MARCH 2022
BOARD REPORT
(continued)
CLASSES OF MEMBERSHIP
The Executive Board may not directly or indirectly alter the rights or obligation5 attached to a class
of membership. The right5 attached to a class of membership may only be var1ed by a special resolution
of the AGM.
FINANCIAL REVIEW AND RESERVES POLICY
The reserves at 31 March 2022 wer( É1,687,552 which inclLtdes ￿adIlY available funds which cover several
years running costs excluding wages. As usual. further work is requlred io secure continued funding but
the core c05t support secured again this year has been key to progress. Expenditure is planned to provide
services to support the company's objectives therefore most expense is directly for religious. cultural and
edijcation purposes during the year. General funds are unrestricted funds which are available for use at
the discretion of the trustee5 in furtherance of the general objectives ol the charity and which have not
been designated for other purposes. Designated funds comprise unrestricted funds that have been set
side by the trvstees for particular purposes. The aiffl and use of each designated fund is set out In the
notes to the financial statements if identified as such. Restricted Funds are funds which are to be used in
accordance with specific restrictions Imposed by donors or which have been raised by the charity for
particular purposes. The cost of raising and administering such funds are charged agalnst the specific fund.
FUTURE PLANS
The association's current funding has stabilised and it intends to secure slmilar funding in the near
future so thèt the current servlces will continue to be offered to those who m05t need them as described
in the Aims and Objectives above.
The plans for a new Mosque have tsken a stride forward with refurbishment beginning cturing 2023.
IMPACT OF COVID-19
The impact of coranavirus restrictions meant that the￿ was naturally a bigger concentration on remote
activities, which ran suc¢e55fully. The￿ has been no material impact tsn the charity's sustainabiliLy due to
sufficiency of reserves. The trustees and board are satisfied that they have made ne￿Ssary
adjustments to ensure that Belfast Islarnic Centre will continue to achieve its objectives.
GOING CONCERN
The board, having corssidered the charity'5 income streams, financTal meèfts and strategy for dealing
with issues such as the impact of Covid-19, over the next 12-18 months, are satisified that the going
concern basis is approprlate.
TAX STATUS
The Inland Revenue has accepted that Belfast Islamic Centre is a charity and registered it as such under
the reference XN 79682
AUDITOR
The auditor, Donald R Minshull FCA of Messr5 Min5hull & Company, Chartered Accountants and
Registered Auditor, offer5 himself For re-appointment as auditor.
BY ORDER OF THE BOARD
Chalrman
Date
14 August 2023
Page 6

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
BELFAST ISLAMIC CENTRE
Opinion
We have audited the financial Statements of Belfast Islamic Centre For the year ended 31 March 2022 which
comprise the Statement of F1nancial Activity, 88laoce Sheet and related notes to the financial statements,
including significant accounting policies. The flnancial ￿porting framework that has been applied in their
preparation is applicable law and United Kingdom Accotjnting Standards,including The Charities SORPIFR5102}.
In our oplnlon rhe financial statements=
give a true and fair view of the state of the charity's affairs as at 31 March 2022, and of its surplus
for the year then ended,.
have been properly prepa￿d in accordance with United Kingdom Generally Accepted Accountlng
Practice,.
have been prepared in accordance with the requirements of the relevant legislation.
Basls for oplnion
We conducted our audit in accordance with International Standards on Auditing IUKI IESAS {UKII and
applicable law. Our responsibilities under those standards are further described In the Auditor's responsibilitie5
for the audit of the financial statements section of our report. We are independent of the charity in accordance
with the ethical requirement5 that are relevant to our audit ol the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical ￿SponSibl11t1eS 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.
Concluslons relatlng to going concern
In atjditing the financial statements, we have concluded that the board's use of the going coiicern basis of
accounting in the preparation of the financial Statements is appropriate. Our evaluation of the board's
assessment of the entity's ability to continue to adopt the going concern basis of accounting Included an
examination of the cash inflows and outlfows projected over the next 12 months running all the current projects.
These projects all provide sufficient funding to cover overheads and support - backed up by budgets for the
fulure and historic ability to cover these costs.
Based on the work we have performed, vve have not identilied any material uncertainties relating to events or
conditions that, individually Dr collectively, may cast significant doubl on the charity's ability to continue as a
going Concern for a period tsf at least 12 months from when the financial statement5 are authorised for issue.
Our responsibilities and the responsibillties of the boèrd with respect to going concern are descrlbed in the
relevant sections of this report.
other Information
The other information compri5@s the information included in the annual report, other than the financlal
statements and our auditor's report thereon. The board is responsible for the other information contained within
the annual report. Our opinion on the financial statement5 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. Our responsibility 15 to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge Dbtained in the course of
the audit, or orherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent materlal misstatements we are required to determine whether this gives rise to a material
misstatement in the financial statetnents themselves. If, based on the work we have perfortned, 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.
Pa9e 7

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
BELFAST ISLAMIC CENTRE
(continued)
Opinions on other matters prescribed by the Companle5 Act 2006
In our opinion, based on the work Ltndertaken in the course of the audit:
the information given in the board's report for the financial year for which the financial statements
are prepared Is consistent with the linancial statements,. ènd
the board'5 report has been prepared in accordance with applicable legal requirernents.
Matters on which we are required to report by exception
In the light of the knowledge and understanding tsf the charity and its environment obtained in the course of
the audit, we have not identified material misstatements in the board's report.
We have nothing to report in respect of the following matters in relation to which the CoTnpanies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audlt have not
been received from branches not visited by us,. or
the financial statements are not in agreement with the accounting records and returns- or
certain disclosures of trustee's remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit: or
the board was not entitled to prepare the financial statements accordance with the small
companies reglme and tèke advantage of the small companie5, exernptions in preparing the
board's report and from the requirement to prepare a strategic report.
Re5pon5ibilities of board
The board is 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 board determines is ne￿$sary to enable the preparation
of financial statements that are free from material misstaternent, whether due lo fraud or error.
Ln preparing the financial statements. the board 15 responsible for assessing the charity's ability to continue as
a going concern, disclosing, as applicable, matters related to goino concern and using the going concern basis
of accounting unle55 the board either intends to liouidate the charity or to cease operations, or have no
realistic alternative but to do so.
Audltor's responslbllitles for the audit of the financial statements
Our objective5 are to obtain reasonable assurance about whether the Financial statements as a whole are free
from material misstatement, whether due to fraud or errtsr, and to Issue an auditor's report that includes our
opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will alway5 detect a material misstatement when It exists. Misstatements can arise
from fraud or error and are considered mater¢al 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 statement5.
Irregularitie5, including fraud, are instances of non-compliance with laws and ￿gUlatiOns. We desig
procedure5 in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, includlng fraud. The specific procedures for this engagement and the extent to which these are
capable of detecting irregularities, including fraud is detailed below..
we performed analytical procedure5, and reviews, to ider>tify large, recurring or unusual items
and fully examined and verified each,.
we examined all transactions ol the charily to ensure all items are properly recorded and properly
approved by managetNent,'
we examined the operation of funded activilies to ensure all monies are properly claimed and
spent and that no expense Is dupllcated In grant clèitns,.
we ensured there were no expenses included, or income excluded, that we found evidence of
and that was not accounted for appropriately.
Page 8

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
BELFAST ISLAMIC CENTRE
Icontinuedl
Because of the inherent Ilmltarions of an audlt, there is a risk that we will not detect all irregLtlarities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
rlsk increases the more that compliance witli a law or regulatlon 15 retnoved from the events and transactions
reflected in the financial statements, as we will be less likely to become aware Df instances of non-compliance.
The risk is also greater regarding Irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collvsion, omission or rni5representation.
As part of an audit In accordance with ISA5 IUKI, we exercise professional judgment and maintain professional
scepticisin throughout the audit. We also..
Identify and assess the risks of material mlsstaternent of the financlal statements, whether due
to fraud or error. design and perform audit procedures responsive lo those risks, and obtain audit
evidence that is sufficient and appropriate to provide a ba515 for our opinion. The risk of nol
detecting a material mi55tatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
OF internal control.
Obtain an understanding of internal control relevant to the audit in order to desl9n audit
procedure5 that are approprlate in the circumstances, but not ror the purpose of expressing an
opinion tsn the effectiveness of the cotnpany's internal control.
Evaluate the appropriateness of accounting policies used and the reasonablene55 of accounting
estitnates and related disclosures made by the director5.
Conclude on the approk)riatene5s of the board's use of the going concern basis of accounting
and, based on the audit evidence tsbtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the charity's ability to continue as a going concern.
If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's
report to the related disclosures in the firTrancial statements or, If such disclosures are inadequate,
to modify our opinion. Our conclusions are based on the aucsit evidence obtained up to the date of
our auditor's report. However, future events or condilions may cause the charity to cease to
continue as a going concern.
Eval¢Jate the overall presenlation, structure and content of the financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions and
events In a manner that achieves Fair presentation lie. gives a true and fair view).
We communicate with those charged with governance regarding, among other tnatters, the planned scope
and timing of the audit and Significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
Use of our report
This report is made solely to the charlty's rnernbers, as a body. in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might State to the charity's members
those matters we are required to State to them in an auditor's report and for no other purpose. To the fullest
extent perrnittecj by law, we do not accept or assume responsibility lo anyone other than the charily and the
charity's members as a body, for our aLJdit work, For this report, or for the opinions we have formed.
On behalf CTrf
DONALD MINSHULL FCA- Senior Statutory Audltor
Statutory Auditor
Minshull & Co
Statutory Auditor
19 Crescent Business Park
Lisburn
B T28 2GN
Date
14 August 2023
Page 9

BELFAST ISLAMIC CENTRE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
2022
2021
INCOME
Note
Income from Charitable Activlties
Unrestricted Grants and Donations
Contribution to Property Expenses
Restricted Fund Grants ènd Fees
Courses. School and Servlce Income
IftarlRamadan Donattsons
Zakat al Fitr and Fitrana Donations
Zakat Donations
Mosque Renovation Donations
26,289
17,216
41,623
13,540
3.640
2,740
11,759
56.150
11,878
21,946
44,347
1,640
3,165
3,339
4,152
50,479
io
172,957
140.946
EXPENDITURE ON CHARITABLE ACTIVITIES
Programme Costs
Ramadan and Other Reception5
School/Volunteer5
Imam - Temporary Cover
Salary Costs
Restricted Fund Activities
Contribuiion to Overheads
Travel,Post,Stationery
Youth & Training Programme Costs
Equipment Depreciation
Salary Costs from Restricted Funds
Pension Costs from Restricted Funds
Zakat/Fitr
409
2,131
15,410
116
3,007
6,265
1,227
3,464
7,933
2,574
5,700
1,365
3,776
204
34,383
511
11,810
35,276
506
9,267
Total
179. 1411
(66, 193)
Total Income less Direct Charitable Expenditure
GOVERNANCE AND SUPPORT COSTS
Contribution to Overheads froffl Restricted Grants
Insurance
Rates, Heat and LSght
Building Maintenance
Property refurbishment
Equipment Repairs and Leasing
Telephone
Postage, Stationery and Office Supplies
Advertising and Website Expenses
Otlier Travelling, Subsistence & Entertainment
Depreciation
(Profit)Loss on Sale OF Fixed Assets
Sundry Expenses
{including Bank Charges)
Meeting Expenses
GOVERNAIVCE EXPENSES
93,816
74.753
12,574)
2,381
8,054
5,360
1,986
1,142
873
560
B4
612
578
2,292
289
(5,700)
3,132
7,106
3,845
2,173
1,404
851
36
112
2,468
698
22
Legal and Professional fees
Accountancy & Audit Fees
7,176
3,290
7,272
2,635
Total
132.103)
(26,054)
BANK INTEREST RECEIVABLE
Net Income(Expenditure) for the Period
Total Funds Brought Forward at l April 2021
61,713
1,625,839
48,699
1,577,140
Total Funds Carried Forward at 31 March 2022
1,687,552
1,625,839
The notes on pages 12 to 16 form part of these accounts
Page 10

BELFAST ISLAMIC CENTRE
FINAIVCIAL sfA TEMENTS FOR THE YEAR ENDED 31 MARCH 2022
BALANCE SHEET AS Af 31 MARCH 2022
Note
2022
2021
restated
Fixed Asset5
1,181,465
1,282, 725
Current Assets
705,796
1,033,063
Currant Liabilities f¢iffloynts fajfftlrtqdue one year?
{57,483}
(87,232)
Net Current Asset5
648,313
945,831
Loan Repayments Due After One Year
1142,2261
(602,717)
Net Assets
1,687,552
1,625,839
FUNDS
Unrestricted Funds
459,538
456,839
Restncted Funds
17.557
14,693
Mosqtje Account
1,210,457
1.154.307
Balance at 31 March 2022
1,687,552
1,625,839
Approved, and aLlthorised for issue, by the Board on the date below and signed on its behalf by
Chairman
Date
Treasurer
Secretary
14 August 2023
The notes on pages 12 to 16 form part of these accounts
Page11

BELFAST ISLAMIC CENTRE
FIAIANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
I. ACCOUNTING POLICI£S
The following accounting policies have been used consistently in dealing with Items which are consIde￿￿
rFiaterial In relation to the charity's financial Statements.
(al
Basis of Preparation
The financial statements have been p￿pared in accordance with Accounting and Reportlng by Charitles.. Statement
of Recommended Practice applicable to charities preparing their accounts In accordance with the Flnancial
Reporting s￿rtdard appIl￿ble in the UK ond Republic tsf Ireland IFRS L02lleffective L January 20151
(Charities SORP IFRS10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland and
the Companies Act 2006.
The company meet5 the deflnltlon of a public benefit entity under FRS 102. Assets and liabilities are initiallv
recognised at historical cost or transacton value unless otherwise stated in the relevant accounting policy note.
(bl
Reconciliation With Previous Generally Accepted A¢counting Practice
In preparing the accounts, the directors have decided that in applying the accounting policies required by
FRS 102 and the Charities SORP FRS 102 no restatement of comparative items was required.
(c}
Preparation of the Accounts on a Going Concern Basis
The charity reported
£61,713 cash inflow for the year and the rJirectors have formulated a strategy rhèt
will secure the immediate future of the company for the next 12 to 18 months and on that basis the charity is a
going concern.
{d}
Income
Income 15 recognised when the company has enutlement to the funds, any performance conditions have been met,
it is probable that the income will be received and the amount can be measured reliably.
Encoffle from government and other grants, of a revenue nature, is recognised when the company has entitlement to
the funds, any performance conditions attached to the 9rants have been met, it is probable that the Income will be
received and the amount can be measured reliably and rs not repayable to the funder.
Capital grants are amortised in line with the ijepreciation of the associated assets, the purchase of whlch ha5 been,
funded by sald grants.
lel
Donated Services and Facilities
Donated professional services and donated facilities are recognised as income when the cOmpa￿Y has control over
the item, any condilions associated wirh the donated item have been rnet, the receipt of economic benefit from the
use of the item by the charity 15 probable and the economic benefit can be measured reliably. In accordance wlth
the Charties SOIP (FR5 1021 general volunteer time is not recognised.
On receipt. donated professional sernices and donated facillties are recogni5ed on the basis of the value of the glft
to the charity which is the amount the charity would have been willlng ro pay to obtain services or facilities ol
equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure in the
period of receipt.
Interest Receivable
Interest on funds held on deposit is included when receivable and the amount can bemeasured reliably by Lhe
companyi E)orrnally upon notification of the interest paid or payable by the financial inststution.
Page 12

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMEAITS FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
(continued)
(gl
Fund Accounting
Unrestricted funds are available to spend on actlvltles that further any of the purpoe5 of the company. Designated
fund5 are unrestricted funds of the charity that the directors have decided at their discretion to set aside to use
for a 5peciflc purpose. Restricted funds are donations which the donor has spe¢ified a￿ to be solely used for
particular areas of the company's work.
(h)
Expenditure and Irrecoverable Value Added Tax
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it
is probable that settlement will be requireed and the amount of the obligation ran be measured reliably.
Expenditure is classified under the folloY4ing activlty headings..
osts of raising funds comprise the costs of commercial trading
expenditure on charitable activities inclijdes the costs of attivities undertaken to further the
purposes of the company
governance and support costs include all other costs
Irrecoverable Value Added Tax Ss charged as a cost against the activity for which the expendirure was incurred.
Support Costs
Support costs a￿ disclosed separately in the Statetnent of Financial Activities.
Tangible Fixed Assets and depreciTation
Tangible fixed assets costing £200 or more are stated In the accounts at original cost less depreciation in order
to write off the cost of fixed assets, over their estimated useful lives, usSng the following annuèl rate
Fixtures, fittings and equipment
25% straight line
Ikl
Debtors
Debtors and accrued income are recognised at the settlement amount due after any discount offered. Prepayments
are valued at the amount prepaid.
Cash at Bank and In Hand
Cash at bank and cash in hand include5 cash and short term highly liquid investments with a short maturity of three
months or less frorn the date of acqulsitlon or opening of the dep051t or sirnlalr account.
{m)
Creditors and Provisions
Creditors and provisions a￿ reco9nised where the company 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 Dbligètion can
be rneasured or estimated reliably. Creditors and pmvisions are normally recognised at their 5ettlemenr amount
after èny dlscounts.
(n}
Financial Instruments
The company only has fSnancral assets and financial liabilities of a kind that quallfy as basic financlal instrument5.
Basic financial instrurnents are initially recognised at transaction value and subsequently measured at their
settlement value with the exceptlon of bank loans which are Subsequently measured at amortised cost Using
the effective interest method.
Page 13

BELFAST ISLAMIC CENTRE
FINAJVCIAL STA TEMEAITS FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FYNANCIAL sfAfEMENTS
(continued)
(ol
Charity status and members liability
The charity is lim¢ted by guarantee. The members a￿ the trustees, that is the board as listed on page 2.
The liability in respect of the guarantee is £1 per member of the charity.
2. YEAR'S SURPLUS IS STATED AFTER CHARGING(CREDITING):
2022
2021
Accountancy Fees
Audit Fees
Bank Interest Receivoble
1,645
1,645
1.318
1,317
3. TANGIBLE FIXED ASSETS
Expenditure
Fixtures &
on Property Equiptnent
TOTAL
COST
at l April 2021
Addition5
Disposals
1,281,979
15,622
1117,5001
25,285
1,400
1,307,264
17,022
1117.5001
3 1 March 2022
1,180, 101
26,685
1,206,786
DEPRECIATION
at l April 2021
24,539
24,539
Charge for the Year
782
782
31 March 2022
25,321
25,321
BALANCE SHEET VALLIE
31 March 2022
1,180, 101
1,364
1,181,465
The property owned at Wellington Park and Wellington Park Avenue have been added to the balance
sheet at their cost, EIOO,500. Th@ investment property at Wellington Park Avenue has been revalued.
on an open market basis, from £41,500 to £201,000. The property disposed of in Tates AvenLJe, had
previously been ￿valued at £117,500, its COSt having been É233.581.
4. CURRENT ASSETS
2022
2021
Grants and Service Income Receivable
Gift Aid Recoverable
Prepayments anrj Accrued Income
Solicitor's Client Account
Casli at Bank and In Hand
15,812
24,408
4, 722
668
525,000
478,265
6,448
683,536
705,796
1,033,063
Page 14

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
(continued)
S. LIABILITIES (Amounts falling due within one yearl
2022
2021
Hire Purchase & Loan Repayments < One Year
other Taxes & Social Security
Grants Deferred
Accruals and Deferred Income
38,965
363
8,374
9,781
76,258
8Q
4,375
6,519
57,483
87,232
6. LIABILITIE5 (Amounts falling due after one yearl
2022
2021
Hire Purchase & Loan Repayments between One and Five Years
HI￿ Purchase & Loan Repayments < One Year
181,191
138,9651
678,975
176,2581
142,226
602,7L7
7. FUNDS
UnrestrTrtte
Restrrcted (Note 11}
2022
2022
2021
2021
Balance at l April 2021
(Deficitlsurplus for the Period
456.839
2,699
297,706
159,133
14,693
2,864
7,854
6,839
Funds at 31 March 2022
459,538
456,839
17.557
14,693
8. TRUSTEES
The trustees received no ernoluments or expenses payments during the year.
9. EMPLOYEES
Number of employee5
The average monthly number of persons etnployed by the association during the year was..
2022
number
2021
number
Developfflent Officers and Adminlstrative staff
Management
Total
The remuneration paid to the employees wès
2022
2(321
Wages and salaries
Pension contributions
42,316
511
38,740
506
42,827
39,246
Page 15

BELFAsf ISLAMIC CENTRE
FINAIVCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
(continued)
9. EMPLOYEES
(continued)
No employees had employee benefits in exce55 of E60,000 12021.. Enill. Pension costs ère allocated to
activities in proportion to the related staffing costs incurred and are charged to the relevant fund
when payable.
10. RESTRICTED FUND GRANTS AND FEES
2022
2021
Funder- OFMDFM
Appeals
NICRE
Belfast City Council
46,175
175
4,000
5,737
39,373
1,500
2,086
Total amounts received in year
56,087
42,959
Amount accrued at l April 2021
Amount deferred at l April 2021
121,6081
4,376
(19,498)
3,654
Amount accrued at 31 March 2D22
Amount deferred at 31 March 2022
11,142
{8,3741
21,608
(4,376)
Credit to Statement of Financial Activities
41,623
44.347
11. RESTRICTED FUNDS ANALYSIS
At l April
2021
Incoming
Resources
Resources
Expended/
Transfers
At 31 March
2022
Funder- OFMDFM
Appeals
NICRE
Belfast City Council
35,710
175
3,776
1,962
135,710)
{300)
13,776)
11,9621
1,300
1,175
1,300
41.623
2,740
11,759
Funds
Al Fitr
Zakat
141,748)
12,7401
18,7711
1,175
13,393
16.382
14,693
56, 122
153,258)
17,557
12. RELATED PARTIES
The are no related party transaction5 to report lor the year.
13. TAXATION
The charity Is exempt from tax on income and gains falling within section 505 of the Taxes Art 1986 or
section 252 of the Taxation of Chargeable Gain5 Act 1992 to tlie extent that these are applied to its
charitable objects.
P8ge 16