osc Report of the Executive Committee of Fife Islamic Centre (Methil) SC008588 31st May 2024 Prepared by.. SmarterTax Ltd Tel .. 01592 646 9¢XI
Fife Islamic Centre (Methil) SC008588 Report of the ExeGUtlve Committee of Frfe Islamic Centre (Methil) for the year 31 st May 2024 Executive Committ The Trntstees (members of the Executive Committee) during the year were.. Chairman '. Chaimian . Treasurer '. General Secretary '. Independent Examiner '. For and on behall ot SmarterTax Ltd No.1 Vi¢torÉa Road Kirkcaldy Fife KY11DT
Fife Islamic Centre (Methil) SC008588 Report of the Executive Committee of Fife Islamic Centre {Methil> for the year ended 31 st May 2024. Structure, Governance and Management Governing Do¢ument The organisation is a charity (Scottish Charity Number SC008588) and is govemed under the rules set out in ts constituiion and managed by a volunteer Executive Committee. Recrultment and Appointment of Executive Committee The Executive Committee are also charity twstees for the purpose of charity law. The office bearers of the Centre are the four Trustees of whom one acts as General Secretary and one as Treasurer for the Centre. The four Trustees have the power to copt two further Trustees and the Trustees elected or COthOPted fonn the Executive Committee. The Executive Committee meets no less than once a month and receives reports on the general business of the Centre and its financial well-being. Trustee Indu¢tlon and Tralnlng New Executive Committee members are paired up with a longer serving member of the committee who will act as their mentor. This provides the new members with direct access to someone who can infomi, athise, and support them in their period of office. Rl$k Management Intemal corrtrol risks a minimised by the implementation of proodures for the authorisation of all transactions and projects. Organisatlonal Structure The Centre has an Executive Committee responsible for overall management of project. funding, staff, and development. Day to day management of the Centre is controlled by the Executive Committee and the IMAN. They are responsible for ensuring that the Centre operates within the constituiion and for ensuring the Centre rneets all tts legislative requirements.
Objectivès and Actlvltlos The Centre's objeds and principal activities are: The promotion and advanment of the Muslim Faith in Frfe. The acquisition of land or buildings for the purpose of erecting a Mosque or converting an existing building to a Mosque. The holding, maintenance and administration of any such Mosque. To arrange religious education for Muslim children. To observe and organise religious and Pakistani National days and other community functions in particular to promote the goodwill for the Muslims. To look after the general welfare, presepie and promote fratemty among Pakistanis and other Muslims. The main objectives and activities for the year continued to focus on . With and for the local Muslim community to promote fratemty. Achievèments and Perfomlance The cent 1$ funded by collections and donations amongst its members who expect progress to be made in the achievement of its objectives through the corrtinuing of activities. Flnanclal Revlew The Centre continues to be su¢c8ssful in raising monies through membership fees, weekly collections and donations lor both general and specific Centre activities. A total of £75,713 was raised in the year from collections, membership fees, donations and rental income. Due to good financial management, diligen and planning thé Centre operates effectively within its financial Constraints. Investment Policy The Centre retains sums in reserve for the future building of a new Mosque. Most of the remaining charty funds are spent in the short tem) for day to day adivities and we are confident that any deficit would be rectified by subsequent collections and donations by tt members. Reserves Pollcy Reserves are at a high level and equate to around 4 years of normal expenditure. Plans for Future Periods The charity plans to continue the activities outlined above in future years. The buihjing of new Mosque remains Central to future plans.
Independent Examlner's Report to the Members of Flfo Islamic Centre (Methil SC008588 We have examined the financial records of Fife Islamic Centre (Methil) for the year beginning ISI June 2023 and ending 31 St May 2024 which comprise the Statement of Financial Activtiies. the Balance Sheet. and related notes. These have prepared on a Receipts and Payments Accounts basis. This report is made exclusr¥ely to the Centre's members. as a body, in accordano with regulation 9 {Statement of Account- Receipts and Payments Accounts) of the Charities Accounts (Scotland) Regulations 2006. To the fullest extent permitted by law, we do not accept or assum8 PonSibl1 to anyone other than the charity and its members as a body for our work solely as Independent Examiners, or of any opinion we fotm as suth. Respectlve Responsibilitios of tho Executive Committee {as Trustees) and Independent Examiner8 The charity's trustees are responsible for the preparation of the accounts in accordan with the tems of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The ¢harity trustees consider that the audit requirement of Regulation 10{1) (d) of the A¢counts Regulations does not apply. It is my responsibilty to examine the accounts as required under section 44{1) (G) of the Act and to State whether particular matters have come to my attention. Basis of Independent Examinovs Statement My examination is carried out in accordan with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or dis¢losures in the accounts and seeks explanation from the trustees conceming any such matter. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.
Indepéndent Examinètrs Stat•m•nt In the coursÈ of my examinaknon of the financial statements to 318t May 2024 and the records upon which they are based. no matter has come io my attention .' 1. VWii¢h gives me reasonable cause to believe that in any material respect th8 requirements: to keep accounting records in accordance with section 44{1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations. and to prepare accounts which accord with the accounting records and comply with regulation 9 of the 2CrfJ6 Accounts Regulations have not been met, or 2. to which , in my opinion. attention should be drawn in order to enable a proper understanding cf the accwrts to be reached. Signed.. Ilndependent Examiner For arKI on Behalf of .' Date
Report of the Executive Committoe lor the year onded 31 May 2024 The Executive Committee have pleasure in presentin9 their report for the year ended 31 May 2024. This iepoil is prepared in accordan wtth the Trust Deed and the recfjnmendath'ons of the Statement of Recommended practi - Accounting and Repo.ng by Charities and complies with applicable law. Statsment of Execulive Committee Responslbilities Legislation applicab19 to charities in Scotland requiras th8 Executive Commtttee to prepare financial s&eMentS for each finanal year which give a true and fair view of the charity's financial activities during the year and of its financia postion at the end of the year. In prepanng financial statements giving a true and fair view. the ExecutNe Commrtiee should follow best practi and '. Select suitable accounting policies and apply them consistenly Make judgements and estimates that are reasonable and Fwdent stste whether aryiicable accounting stsndards and statement of recommended practice have been followed. subject to any departures disck)sed and explained in the financial statements Pr6pare the financial statements on the going concem basis unless it is inappropriate to presuffle that the charty wll Continue In operalion. Th8 Executlve Committee are responsible for keeping accountiro rerdS which disdc6e wilh reasonable accuracy the financial posttion of the charity and which enable them to asrtain the finanaal position of the chanfy and which enable them to ensure that the financial statements comply wth appropriate legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the PreVenOn and detection of fraud and other iegularitIes. Signed on behalf of the Executive Cffiimittee and dated 14th Novemter 2024 . Charman Treasur8r .
Flfe Islami¢ Centre Imethll) SC008588 for the year ended 31st May 2024 l. Ac¢ountlng Policles These accounts have been produced on a Receipts and Payments basi5 in accordance with the Charities Accounts15cotlandl Regulatlons. The accounts have been prepared on a going concem basis whlch assumes that the chairty will contlnue to operate. The validity of this assumption is dependant upon its continuing funding. If the charity was unable to continue to operate. asset values may be adjusted to their recoverable amount. Depreciation is provied on the Fixture5 and Fittings at 25% per annum on a reducing balance basis. No depreciation is provided on the freehold property as the Executive Committee considers it to be an appreciating asset. 2. Incomlng Resources (a) Voluntary Income Unrestrirted Restricted 2024 2023 Friday Collertions Membership Fees Children's Fees Other Collections Mosque Box 13.575 22,465 13.575 22,465 13,590 11.915 60 730 36,040 36,040 26,295 (b) IrNestrnent Income 2024 2023 Rentsl Income 11,61N) 9.290 (c) Exceptlonal Incorne 2024 2023 Grant funding 15.000 Idl Donations 2024 2023 Donatlons Special Donations Donations received to Alc 2 13,094 14.311 4,011 18,322 13,094 12
Flfe Islam1¢ Centre (Methlll SC008588 for the year ended 31rt May 2024 3. Resources Expended la) Charltable Activltles An analysis of the charitable octivities and their expendlture Is as follows . Activlties undertaken directly Support Costs 13c) 2024 Total 2023 Totsl Religious Educatlon 15.600 36,892 52,492 30,122 (b) Governance Costs The governance costs represents the Independent Examiner's Report and professional fees for Payroll and Accounting in respect of producing Recelpts and Payments accounts totalling £660 Support Costs Religious Education 2024 Religious Education 2023 Unrestricted 2024 Restricted 2024 Heat & Light Insurance Donations Made Telephone Bank & Legal Charges Premises Expenses Repairs and Renewals Advertislng Funeral Costs 10.287 1,268 3,200 361 620 1,896 15,808 10,287 1,268 3.200 361 620 1,896 15.808 6,288 1,640 307 -193 48 6,432 14,522 3,452 36.892 3,452 36.892 Staff and Employees The average number of full-time equivalent employees during the year was l and their total remuneration amounted to £18720 incl expenses. No stsff received salaries in exce55 of £60,0 per annum.
Flfe lslamle Centre Imethll) SC008588 for the year ended 31st May 2024 4. Trustee Remuneratlon and Related Party Transacti( No members of the Executive Commtttee received any MneratIOn during the year. No trustees or other persons related to the charity had any personal interest In anv contrart or transaction entered into by the tharity duri the year.12023- Nil) 5. Anatysls of Net Assets between funds Net Current Fixed A55ets Combined Unrestricted Funds Restricted Fund Restricted Fund 2 64.140 135.160 199.3(K) 64.140 135.160 199.3CK)