BELFAST ISLAMIC CENTRE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
CHARITY NUMBER- N1102005

BELFAST ISLAMIC CENTRE
FINANCIAL sfA TEMEIVTS FOR THE YEAR ENDED 31 MARCH 2024
CONTENTS
Page
Contents
Officers
Executlve Board's Report
Auditor's Report
Statement of Financial Activities
io
Balance Sheet
Notes to the Accounts
12
Page 1

BELFAST ISLAMIC CENTRE
FIIVANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
OFFICERS
BOARD
CHAIRMAN
Mr Muhammed Arshed
EXECUTIVE SECRETAR Y
Mr Ameer Ibrahim
TREASURER
Mr Hassan Farooq
OTHER BOARD MEMBERS
Dr Wasif Naeem
Dr Imran Yousuf
Mrs Pashmina Kashif (appointed Ottober 2023)
Mr Shoaib Tareen
Mr Nafiu Abubakar
TRUSTEES
Dr Shahid Tariq
Mr Louay Majeed
Mr Mahsood Alam
Mr Zaheer Baloch (appolnted October 2023)
Dr Saleem Khan Tareen
Dr Raja Harun
Mr Sami Farag (appointed October 2023)
EMPLOYEES
Anwar Mady
Humaira Khurshid
Amama Azam
AUDITOR
Minshull & Co
Chartered Accountants
19 Crescent Business Park
USBURN
BT28 2GN
BANKERS
Bank of Ireland
Belfast City Branch
BELFAST
BTI 2BA
Danske Bank
Donegall Square West
BELFAST
BTI 6JS
HEAD OFFICE
13-19 University Road
BELFAST
BT7 INA
Page 2

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BOARD REPORT
The board present their annual report together with the financial statements for the year to 31
March 2024.
AIMS AND OBJECTIVES
The Belfast l51amic Centre was 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 as a community centre, social-cultural centre,
resource centre, advice centre and day centre.
The Belfast Islamic Centre aims to
Run the Mosque, provide rellgious services, instructions and guidance to the Muslim
community
Provide education for all section5 of the community in order to lead life in the
current multi-cultural soclety as a Musllm, as an Ideal cltlzen and to aid integration
Provide social and cultural services in order to preserve the community identity
Provide a guidance and resource seNice to educational institutions, hospitals and
prisons and generally to all communities irrespective of their religion
Provide an advisory service to solve educational, cultural and social problems
Provide soclal welfare services to the vadous groups of the community
The Centre also provides
Children's education through its various schools
Youth development through activities and seminars
Social and recreational programmes for women
Adult education
EXECUTIVE BOARD
The policy and general management of the affairs of Belfast Islamic Centre shall be diretted by the
Executive Board drawn from registered members who have been resident In Northern Ireland
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 mernbers being required for a quorum. A
member will be deemed to have resigned from the Board if not in attendance for three
consecutive meetings without supplying notice.
RESULTS
The Net Incoming Resources for the year amounted to
£460,513
Page 3

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BOARD REPORT
(continued)
TRUSTEES
All the property of the Centre, whatever or however, shall be vested in at least five and preferably
seven appointed trustees as joint tenants on behalf of the cent￿.
The trustee5 are appointed by the Office Bearers, the Executive Board and the rest of the
Trustees from among the Full Members of the Centre who have been permanent residents of Northern
Ireland for at least five years and are well respetted members of the community.
The Trustees shall hold office for four years each term and are eligible for re-appointment for another
term. After two conecutive terms a Trustee will not be entitled to serve again a5 Trustee until a period of
at least six years has elapsed.
If the office of trustee should fall vacant, another Trustee shall be appointed by the mutual agreement of
the remaining Trustees and the Executive Board.
The post of Trustee shall be vacated if the Trustee:
(a) Resigns from the trusteeship;
{b) Fails in his duties as determined by the remaining Trustees and the Executive Board.
(c) Dies or leaves Northem Ireland; or
(d) Is dismissed from his position if he commits an immoral act or is convlcted of a crime.
The Trustees may deal with the property so vested in them by way of sale, exchange or lease, such dlrettlon
bein9 given by resolution of the Executive Board of the cent￿ and when so passed shall in favour of
the purchaser, exchange or lease be bindlng upon members of the Centre.
The Trustees shall meet periodically at least four times a year and shall nominate among themselves a chalr
person. They sha15 also nominate one or more Trustee to attend the Executive Board meeting if and
when invited.
The Trustees collectively shall have the authority to call a General Meeting of the Centre whenever there is:
(a) Vlolation of the Constitution of the Centre.
(b) A serious dispute between the Executive Board and members of the Centre which
could not be resolved amicablyi
(c) A major dispute among members of the Executive Board which cannot be resolved; or
(d) Whenever a by-election is deemed necessary.
The Trustees shall officiate as Election Committee during the election of the Executive Board.
MEMBERSHIP
Membership is open to individuals or organi5ations who:
(a) apply to the Centre in the form required by the Executlve Board; and
(b) are approved by the Executive Board.
Every application for admission shall be consldered by the Executive Board at their first meeting after
it was made, or as soon thereafter as is practicable. There shall be no unlawful discrimination.
(a) The Executlve Board may only refuse an appllcation 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
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BOARD REPORT
(continued)
MEMBERSHIP
(b) The Executive Board must inform the appllcant in writing of the reasons for the refusal
within twenty-one days of the decision.
(c) The Executive Board must consider any written representations the applicant may
make about the decision. The Executive Board s decision following any written
representatlons must be notified to the applicant in writln9 but shall be final.
Membership 15 not transferable.
The Centre must keep a register of names and addresses of the members and should periodically update it.
CLASSES OF MEMBERSHIP
The rights and obligations of the different classes of membership shall be recorded in the register of
members. There shall be five classes of membership:
(a) Centre Members: All Muslims are welcome to use the Centre faclllties, take part in the
activities 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 fomiat. Centre Members will not be entitled to attend, speak at or vote at
General Meetings or elections or stand for election to the Executive 8oard or trustees.
(b) Full Members: All Muslims are entitled to become Full Members of the Centre provided they:
i) Have been Centre Members or a youth member for a period of at least twelve months.
ii) Are aged 17 years or over;
iii) Are currently unconditionally resident in Northern Ireland and have been resident in
Northern Ireland for 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 attend,
speak and vote at electlons and at General Meetings of the Centre. Only Full Members of the
Centre and practising Muslims of good character shall be entitled to stand for election to the
Executive Board or as Trustees of the Centre.
(c) Affiliate Members: Any organisation artive within the area of benefit, whether voluntary or
statutory, which subscribes to the objects of the Centre may apply to the Executive Board
to become an Affiliate Member. If such appllcation is accepted by the Executive Board the
Affiliate Member will be entitled, by prior written notification to the Secretary, to iiominate
an authorised representative who may attend and speak at General Meetings a5 observer but
with no voting power.
(d) Honorary Members: 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 ￿SIde in Northern Ireland. Honorary Members will be entitled
to attend and speak at General Meetings of the Centre, but will not be entitled to vote.
(e) Youth Members: All Muslims over the age of 12 and under the age of 17 a￿ entltled to
become Youth Member5 of the Belfast Islamic Centre. Youth Members 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 due. Youth Members will not be entitled to attend,
speak at or vote at General Meetings or stand for election for Executive Board.
Page 5

BELFAST ISLAMIC CENTRE
FINAIVCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BOARD REPORT
(continued)
CLASSES OF MEMBERSHIP
The Executive Board may not directly or indirectly alter the rights or obligations attached to a class
of membership. The rights attached to a class of membership may only be varied by a special resolution
of the AGM.
FINANCIAL REVIEW AND RESERVES POLICY
The reserves at 31 March 2024 werf £2,295,020 which includes readily available funds which cover several
years running costs excluding wages. As usual, further work is required to secure contlnued 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
education purposes during the year. General funds are unrestricted funds which are available for use at
the discretion of the trustees in furtherance of the general objectives of the charity and which have not
been designated for other purposes. Designated funds comprise unrestricted funds that have been set
aside by the trustees for particular purposes. The aim 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 restrirtions imposed by donors or which have been raised by the charity for
particular purposes. The cost of raising and administering such funds are charged against the specific fund.
FUTURE PLANS
The assoclation's current funding has stabilised and it intend5 to secure similar funding in the near
future so that the current services will continue to be offered to those who most need them as described
In the Aims and Objectives above.
The work on the new Mosque continues but the premises are occupied.
IMPACT OF COVID-19
The impact of coranavirus ￿striCtl0nS meant that there was naturally a bigger concentration on remote
activitie5, which ran successfully. There has been no material impact on the charity's sustainability due to
sufficiency of reserves. The trustees and board are satisfied that they have made necessary
adjustments to ensure that Belfast Islamic Centre will continue to achieve its objectives.
GOING CONCERN
The board, having considered the charity's income streams, financial means 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 appropriate.
TAX STATUS
The Inland Revenue has accepted that Belfast Islamic Centre is a charity and registered it as such under
the ￿ference XN 79682
AUDITOR
The auditor. Donald R Mlnshull FCA of Messrs Minshull & Company, Chartered Accountants and
Registered Auditor, offers himself for re-appointment as auditor.
BY ORDER OF THE BOARD
n/kJ,
Chalrman
Date
6 Ortober 2025
Page 6

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
BELFAST ISLAMIC CENTRE
Oplnlon
We have audlted the financial statements of Belfast Islamic Centre for the year ended 31 March 2024 which
comprise the Statement of Financial Actlvity, Balance Sheet and related notes to the financlal statements,
including significant accounting policies, The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards,including The Charities SORP(FRS102).
In our opinion the flnancial statements:
give a true and fair view of the state of the charity's affairs as at 31 March 2023, and of its surplus
for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice;
have been prepared in accordance wlth the requlrements of the relevant legislation.
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 audlt of the financial statements in the UK, Including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a ba515 for our opinion.
Concluslons relatlng to going concern
In auditing the financlal statements, we have concluded that the board's use of the going concern 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
future and historic ability to cover these costs.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditiorss 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 12 months from when the financial statements are authorised for issue.
Our responsibillties and the responslbilitles of the board with respect to oolng concern are described in the
relevant sections of this report.
other Information
The other Information comprises the infomiation included in the annual report, other than the financial
statements and our auditor's report thereon. The board is responsible for the other information contalned within
the annual report. Our oplnlon on the financial Statements does not cover the other information and, except
to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so, consider whether the other
information Is materially incon5iStent with the financial statements or our knowledge obtained in the course of
the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements we are required to detemiine whether this gives rise to a material
mlsstatement In the financial statements themselves. If, based on the work we have perfomied, we conclude
that the￿ is a material misstatement of this other Information, we are reqUI￿d to report that fact.
We have nothing to report in this regard.
Page 7

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
BELFAST ISLAMIC CENTRE
{continued)
Oplnions on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit-
the information given in the board's report for the financial year for which the financlal statements
are prepared is conslstent with the financial statements; and
the board's report has been prepared In accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtained in the course of
the audlt, 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 Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or retums adequate for our audit 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 in accordance with the small
companies regime and take advantage of the small companies, exemption5 in preparing the
board's report and from the requirement to prepare a strategic report.
Responslbilities of board
The board is responsible for the preparation of the financlal statements and for being satisfied that they glve
a true and falr view and for such internal control as the board determines 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 board is 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 basls
of accounting unless the board either intends to liquidate the charity or to cease operations, or have no
realistic alternatSve but to do so.
Audltor's responsibilities for the audlt of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole a￿ free
from material misstalement. whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable a55urance 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 specific procedures for this engagement and the extent to which these are
capable of detetting irregularities, includlng fraud is detailed below:
we performed analytical procedures. and revlews, to identify large, recurring or unusual items
and fully examined and verified each;
we examined all transactions of the charity to ensure all items are properly recorded and properly
approved by management;
we examined the operation of funded activitles to ensure all monies are properly claimed and
spent and that no expense is duplicated in grant claims;
we ensured there vlere 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
(continued)
Because of the inherent limitations of an audit, there is a rrsk that we will not detert all irregularitie5, including
those leading to a material misstatement in the financlal statements or non-compliance with regulatlon. Thls
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 15 also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgeryi colluslon, omission or misrepresentation.
As part of an audit in accordance with ISAS (UK), we exerclse professlonal Judgment and maintain professional
scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due
to fraud or error, design and perfom audit procedures responsive to those risks, and obtain audlt
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgeryi intentional omissions, misrepresentations, or the override
of Internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expresslng an
opinion on the effectiveness of the company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the directors.
Conclude on the appropriateness of the board's use of the going concern basi5 of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the charity's abllity 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 financial statements or, if such disclosures are inadequate,
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of
our auditor's report. However, futu￿ events or conditions may cause the charity to cease to
continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, induding
the disclosures, and whether the financial statements represent the underlying transactlons and
events in a manner that achieves fair presentation (ie. gives a true and fair view).
We communicate with those charged with governance regarding, among other matters, the planned scope
and tlming of the audit and significant audit findings. including any significant deficiencies In intemal control
that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordan￿ with Chapter 3 of Part 16 of
the Companles Act 2006. Our audit work has been undertaken so that we might state to the charity's members
those matters we are ￿qUired to state to them in an auditorfs 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
On behalf of
DONALD MINSHULL FCA - Senlor Statutory Auditor
statutory Auditor
Minshull & Co
Statutory Audltor
19 Crescent BU￿neSS Park
Lisburn
8T28 2GN
Date
6 October 2025
Page 9

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
INCOME
Note
Income fmm Charitable Activities
Unrestricted Grants and Donations
Contribution lo Property Expenses
Restricted Fund Grants and Fees
Courses, School and Service Income
lftar/Ramadan Donations
Zakat al Fitr and Fitrana Donations
Zakat Donatlons
Mosque Renovation Donations
Profit on Sale of Property
37,752
776
58,835
18,379
15,425
8,230
30.401
193,318
239,046
44,055
764
48, 724
10,632
12,518
6,158
13,033
125,828
9,443
io
602,162
271,155
EXPENDITURE ON CHARITABLE ACTIVITIES
Programme Costs
Ramadan and Other Receptlons
School/Volunteer5
Fundraising Expenses
Salary Costs
Pension Contributions
Restricted Fund Activities
Contribution to Overheads
Equipment Depreaation
Salary Costs from Restrlcted Funds
Pension Costs from Restricted Funds
ZakaVFitr/Appeals and Sundry
Total
12,217
19,851
12,672
I,ioi
6,019
112
5,124
7,213
11,420
7,253
6,192
157
10,198
350
32,282
503
17,817
9, 704
350
30.454
448
23,550
(113,122)
(101,865)
Total Income less Direct Charitable Expenditure
GOVERNANCE AND SUPPORT COSTS
Contribution to Overheads from Restricted Grants
Insurance
Rates, Heat and Ltght
Building Maintenance
Property refurbishment
Equipment Repairs and Leaslng
Telephone
Postage, Ststlonery and Office Supplles
Advertising and Website Expenses
Other Travelling. Subsistence & Entertalnment
Depreciation
Sundry Expenses
(including Bank Charges)
GOVEkNANCE EXPENSES
Legal and Professlonal fees
Accountancy & Audit Fees
489,040
169,290
(10,198)
6,276
12,217
9,706
(9, 704)
3.548
8,004
9,096
852
661
935
162
21
1,218
2,811
2,364
80
558
92
104
168
3,888
250
3,616
837
3,300
Total
(28,527)
(22,335)
BANK INTEREST RECEIVABLE
Net Income(Expenditure) for the Period
Total Funds Brought Forward at l April 2023
460,513
1.834,507
146,955
1,687.552
Total Funds Carried Forward at 31 March 2024
2,295,020
1,834.507
The notes on pages 12 to 16 form part of these accounts
Page 10

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BALANCE SHEET AS AT 31 MARCH 2024
Note
2024
2023
restated
Flxed Assets
2.229,939
984,420
Current Assets
693,123
1,183,352
Current Llabllltles (amwnts falllng due bvkhin one year)
(391,067)
(132,073)
Net Current Assets
302,056
1,051,279
Loan Repayments Due After One Year
(236,975)
(201,192)
Net Assets
2,295,020
1,834,507
FUNDS
Unrestricted Funds
708,135
477.256
Restricted Funds
57,282
20.966
Mosque Account
1,529,603
1,336.285
Balance at 31 March 2024
2,295,020
1.834,507
Approved, and authorised for issue, by the Board on the date below and signed on its behalf by
hjai
Chalrman
Date
Treasurer
Secretary
6 October 2025
The notes on pages 12 to 16 form part of these account5
Page 11

BELFAST ISLAMIC CENTRE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTes TO THE FINANCIAL STATEMENTS
I. ACCOUNTING POLICIES
The following accounting policles have been used consistently in dealing with items which are considered
material In relation to the charity's financial statements.
(a)
Basls of Preparation
The financial statements have been p￿pared in accordance with Accounting and Reporting by Charities: Ststement
of Recommended Practice applicable to charities p￿parIng their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)(effective l January 2015)
(Charities SQRP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of [￿land and
the Companles Act 2006.
The company meets the definition of a publlc beneflt entlty under FRS 102. Asset5 and liabilities are initially
recognised at historical c05t or transacton value unless otherwise stated in the relevant accounting policy note.
(b)
Reconciliation With Previous Generally Accepted Accounting Practice
In preparing the accounts, the directors have decided that in applying the accountlng pollcies required by
FRS 102 and the Charities SORP FRS 102 no restatement of comparatlve Items was requlred.
(c)
Preparation of the Accounts on a Going Concern Basls
The charity reported
£460.513 cash inflow for the year and the directors have forniulated a strategy that
will secure the Immedlate fvture of the company for the next 12 to 18 months and on that basis the charity is a
going concern.
(d)
Income
Income Is recognised when the company has entitlement to the funds, any performance condltions have been met,
It is probable that the income will be recelved and the amount can be measured reliably.
Income from government and other grants, of a revenue nature, is recognlsed when the company has entitlement to
the fund5. any performance conditions attached to the grants have been met. it Is probable that the income wlll be
recelved and the arnount can be measured reliably and is not repayable to the funder.
Capital grants are amortlsed In line wlth the depreciation of the associated assets, the purchase of which has been,
funded by said grants.
(e)
Donated Services and Facilities
Donated professional services and donated facllltles a￿ recognised as income when the company has control over
the Item. any conditions associated with the donated item have been met, the receipt of economic beneflt from the
use of the item by the charity is probable and the economic benefit can be measured reliably. In accordance with
the Charties SORP (FRS 102) general volunteer time is not recognised.
On receipt, donated profe55lonal services and donated facllities are recognlsed on the basts of the value of the gift
to the charity which Is the amount the charity would have been willing to pay to obtain servlces or faclllties of
equivalent economic benefit on the open market- a corresponding amount 15 then recognised in expenditu￿ In the
period of ￿Ceipt.
(f)
Interest Receivable
Interest on funds held on deposit is included when recelvable and the amount can bemeasured reliably by the
company, normally upon rtotification of the interest paid or payable by Ihe f6nanclal Institutlon.
Page 12

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
(continued)
(g)
Fund Accountlng
Unrestricted funds are available to spend on activities that further any of the purpoes of the company. Designated
funds are unrestricted funds of the charlty that the dlrectors have decided at thelr dlscretion to set aside to use
for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for
particular areas of the company's work.
(h)
Expenditure and Irrecoverable Value Added Tax
Expendlture is recognised once there is a legal or constructive obligation to rnake a payment to a thlrd party, it
Is probable that settlement will be requireed and the amount of the obligation can be measured reliably.
Expenditu￿ Is cla55ified under the following activity headings..
costs of raising funds comprise the costs of commerclal trading
expenditure on charitable activities includes the costs of artivities undertaken to further the
purposes of the company
governance and support costs include all other costs
Irrecoverable Value Added Tax is charged as a cost against the activity for whlch the expendlture was incu￿ed.
Support Costs
Support costs are disclosed separately in the Statement of Financlal Activities.
ij)
Tanglble Flxed Assets and depreclatlon
Tangible flxed assets costing £200 or more are stated in the accounts at original cost less depreclation in order
to write off the cost of fixed assets, over their estimated usefvl Ilves, uslng the follovling annual rate
Fixtures, fittings and equipment
250h stralght line
(k)
Debtors
Debtor5 and accrued Income are recognised at the settlement amount due after any discount offered. Prepayments
are valued at the amount prepald.
Cash at Bank and in Hand
Cash at bank and cash In hand includes cash and short term highly liquid investments with a short maturity of three
month5 or less from the date of acquisition or opening of the deposlt or slmlalr account.
(m)
Creditors and Provisions
Creditors and provlslons are recognised where the company has a present obligation resulting from a past event
that wlll probably result In the transfer of fvnds to a third party and the amount due to settle the obllgatlon can
be measured or estimated rellably. Creditors and provlsions a￿ normally recognised at their settlement amount
after any dlscounts.
(n)
Flnanclal Instruments
The company only has financial assets and financial liabilities of a kind that quallfy as baslc flnanclal Instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at thelr
settlement value with the exception of bank loans which are subsequently measured at amortlsed cost using
the effective interest Tnethod.
Page 13

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
(continued)
(o)
Charity statu5 and members liability
The charlty Is limited by guarantee. The members are ihe trustees, that is the board as listed on page 2,
The liability In respect of the guarantee is £1 per mernber of the charlty.
2. YEAR'S SURPLUS IS STATED AFTER CHARGING(CREDITING):
2024
2023
Accountancy Fees
Audit Fees
Bank Interest Receivable
1,808
1,808
1,650
1,650
3. TANGIBLE FIXED ASSETS
Expenditure
xtures &
on Property Equipment
TOTAL
COST
at l April 2023
Additions
Disposals
983,574
1,284,872
(59,000)
26,684
21,216
1,010,258
1,306,088
(59,000)
31 March 2024
2,209,446
47,900
2,257,346
DEPRECIATION
at l April 2023
25,839
25,839
Charge for the Year
1,568
1,568
31 March 2024
27,407
27,407
BALANCE SHEET VALUE
31 March 2024
2,209,446
20,493
2,229,939
4. CURRENT ASSETS
2024
2023
Grant5 and Service Income Receivable
Prepayments and Accrued Income
Cash at Bank and In Hand
42,600
2,111
648,412
43,633
1.313
1,138,406
693,123
1,183,352
Page 14

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
(continued)
5. LIABILITIES (Amounts falling due within one year)
2024
2023
Hire Purchase & Loan Repayments < One Year
Other Taxes & Social Security
Grants Deferred
Accruals and Deferred Income
17,504
2,605
8,570
362,388
115,537
274
7,280
8, 982
391,067
132,073
6. UABILITIES (Amounts falling due after one year)
2024
2023
Hlre Purchase & Loan Repayments between One and Five Years
Hire Purchase & Loan Repayments < One Year
254,479
(17,504)
316,729
(115,537)
236,975
201,192
7. FUNDS
Unrestrlcted
2024
Restricted (Note 11)
2024
2023
2023
Balance at l April 2023
(Deficit)Surplus for the Period
477,256
230,879
459,538
17,718
20,966
36,316
17,557
3,409
Funds at 31 March 2024
708,135
477,256
57,282
20,966
8. TRUSTEES
The trustees received no emoluments or expenses payment5 durfng the year.
9. EMPLOYEES
Number of employees
The average monthly number of persons employed by the association during the year was:
2024
number
2023
number
Development Officers and Administrative staff
Management
Total
The remuneration paid to the employees was
2024
2023
Wages and salaries
Pension contributions
38,301
615
36,645
606
38,916
37.2SI
Page 15

BELFAST ISLAMIC CENTRE
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
(continued)
9. EMPLOYEES
(continued)
No employees had employee beneflt5 in excess of £60,000 (2022: Énil). Pension costs are 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
2024
2023
Funder - OFMDFM
Appeals
Belfast Clty Council
40,194
15,225
1,968
11,142
7,768
Total amounts recelved in year
57,387
18,910
Amount accrued at l Aprfl 2023
Amount deferred at l April 2023
(39,862)
7,280
(11,142)
8,374
Amount accrued at 31 March 2024
Amount deferred at 31 March 2024
42,600
(8,570)
39,862
(7,280)
Credit to Statement of Financial Activities
58,835
48, 724
11. RESTRICTED FUNDS ANALYSIS
At l April
2023
Incoming
Resources
Resources
Expendedl
Trdnsfers
At 31 March
2024
Funder - OFMDFM
Appeals
Belfast City Councll
42,983
15,225
627
(42,983)
{13,410)
(627)
93
1,908
93
58,835
8,230
30,401
(57,020)
(1,000)
(3,130)
1,908
7,230
48,144
Fund5-
Al Fitr
Zakat
20,873
20,966
97,466
(61,150)
57,282
A2. RELATED PARTIES
The are no related party transactions to report for the year.
13. TAXATION
The charity is exernpt from tax on income and gain5 falling within section 505 of the Taxes Act 1988 or
Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its
charitable objects.
Page 16