**CHARITY REGISTRATION NUMBER: SC031858** 

# **ASSOCIATION OF SCOTTISH MUSLIMS Unaudited Financial Statements 31 March 2024** 

**McDONALD GORDON & CO LTD** 

Chartered Certified Accountants 29 York Place, Edinburgh, EH1 3HP 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Financial Statements** 

## **Year ended 31 March 2024** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**4**|
|Statement of financial activities|**5**|
|Statement of financial position|**6**|
|Notes to the financial statements|**7**|





**ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Trustees' Annual Report** 

## **Year ended 31 March 2024** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. 

## **Reference and administrative details** 

**Registered charity name** ASSOCIATION OF SCOTTISH MUSLIMS **Charity registration number** SC031858 **Principal office** 80 Main Street Davidson's Mains Edinburgh EH4 5AB 

## **The trustees** 

## **Independent examiner** 


## **Structure, governance and management** 

The charity is an unincorporated association governed by its constitution, which was updated on 16 September 2024. The objects of the charity remain unchanged in the updated constitution. 

The trustees administer the charity. Charity trustees are either life charity trustees or elected charity trustees. There must at all times be no less than three and no more than five life charity trustees. Nominees for election as a charity trustees must be approved by the Chairperson. The Chairperson is a life charity trustee. 

As regards membership of the Association: all persons appointed as charity trustees shall on their appointment also become members of the Association. Additional members are appointed at the sole discretion of the charity trustees. 

**1** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **Objectives and activities** 

The objects of the Association, as recorded in our constitution, are: 

To promote the physical, intellectual, social, moral and spiritual development of all members of the Muslim community and in particular of young people, through the provision of a broad range of educational, recreational and welfare opportunities; and 

To promote good relations in the interest of racial harmony and mutual respect between the Muslim community and in all other communities and thus enabling the Muslim community to participate in and contribute fully to all aspects of civic life. 

## **Achievements and performance** 

The Association's long-term objectives are the advancement of the physical, intellectual, social, moral and spiritual development of the Muslim community and to promote good community relations between communities. 

It has been another prominent year of services to the community and especially in developing our young people. With over 350 children attending our daily classes for under 16s and developing their understanding of their religion and duty in British society to ensuring they are becoming an active and a positive participant to society as a whole. 

We also have been running many other activities to develop new skills and health initiatives: Baking, kickboxing, football to name some. 

We also have been developing our outreach welfare projects locally and internationally to help those who are in need the most. From distributing thousands of food packs locally and internationally for those who need food to developing housing projects for those that require shelters. 

Our outreach education projects have ensured that many groups and education service providers have been able to benefit by visiting the mosque and developing a better understanding of Islam and also our imams have provided advice to those who require it. 

After the year end we have acquired a new mosque branch in Broomhouse, Edinburgh and plan to initiate the activities mentioned above at this location. 

**2** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **Financial review** 

As a result of the surplus of £140,170 for the year, total funds increased to £1,592,269 at the year end. Of the funds £1,582,018 are unrestricted of which £59,731 has been designated for use in building an extension to the Mosque. 

## **Statement of Trustees' Responsibilities** 

The trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements the Trustees are required to: 

- select suitable accounting policies and apply them consistently 

- observe the methods and principles in the applicable Charities SORP 

- make judgements and estimates that are reasonable and prudent 

- state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements. 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions on the charity's constitution.  They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Events after the end of the reporting period** 

Particulars of events after the reporting date are detailed in note 21 to the financial statements. 

The trustees' annual report was approved on 10 January 2025 and signed on behalf of the board of trustees by: 


**3** 



ASSOCIATION OF ScO￿lSH MUSLIMS
Independent Examlnefs Report to the Trustees of ASSOCIATION OF
scorrisH MUSLIMS
Year ended 31 March 2024
I report on the financial stslements for the year ended 31 March 2024, which comprise the staternent
of financial activities, slatemenl of financial position and the rdated noles.
Respective responsibilities of trustees and examiner
The charity's trustees are resFK)nsible for the preparation of the accounts in accordance with the temis
of the Charities and Trustee Investrment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl
Regulations 2006. The charity trustees consider that the audit requirement of Regulation 1011 Ila) to
Icl of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts
as required under section 4411 Ilcl of the Act and to state whether particular matters have come to my
attention.
Basis of independent examinerfs report
My examination is carried in accordance with Regulation 11 of the 2006 Accounts Regulations. An
examination includes a review of the accounting records kept by the charity and a comparison of the
accounts presented with those records. It also includes ￿nsIderatIon of any unusual items or
disclosures in the accounts. and seeks explanations from the trustees ￿ncernIng any such matters.
The procedures undertaken do not provide all the evhdence that would be required in an audit and
consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention-
11) which gives me reasonable cause to believe that in any material respect the requirementS=
to keep accounting records in aco)rdance wth section 4411llal of the 2005 Act and
Regulation 4 of the 20Cé Accounts Regulations. and
to prepare accounts which accord with the accounting records and comply with Regulation
8 of the 2006 Accounts Regulations
have not been met. or
12) to whieh, in my opinion, attention should be drawn in order lo enable a proper understanding of the
accounts to be reached.
Independent Examiner
McDonald Gordon & Co Ltd
29 York Place
Edinburgh
EH13HP

## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Statement of Financial Activities** 

## **Year ended 31 March 2024** 

||||**2024**||2023|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|107,484|103,026|210,510|181,349|
|Charitable activities|**5**|201,792|–|201,792|174,164|
|Investment income|**6**|30,000|–|30,000|25,583|
|Other income|**7**|961|–|961|414|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total income**||340,237|103,026|443,263|381,510|
|||================================|================================|================================|================================|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of raising donations and||||||
|legacies|**8**|3,197|–|3,197|3,744|
|Expenditure on charitable activities|**9**|207,121|92,775|299,896|251,493|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total expenditure**||210,318|92,775|303,093|255,237|
|||================================|================================|================================|================================|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Net income and net movement in**|**funds**|129,919|10,251|140,170|126,273|
|||================================|================================|================================|================================|
|**Reconciliation of funds**||||||
|Total funds brought forward||1,452,099|–|1,452,099|1,325,826|
|||-----------------------------------------|--------------------------------|-----------------------------------------|-----------------------------------------|
|**Total funds carried forward**||1,582,018|10,251|1,592,269|1,452,099|
|||=========================================|================================|=========================================|=========================================|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 7 to 17 form part of these financial statements.** 

**5** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Statement of Financial Position** 

## **31 March 2024** 

|||**2024**|2023|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**15**|724,203|726,746|
|**Current assets**||||
|Debtors|**16**|2,859|1,817|
|Investments|**17**|300,000|315,000|
|Cash at bank and in hand||577,929|425,803|
|||--------------------------------|--------------------------------|
|||880,788|742,620|
|**Creditors: amounts falling due within one year**|**18**|12,722|17,267|
|||--------------------------------|--------------------------------|
|**Net current assets**||868,066|725,353|
|||-----------------------------------------|-----------------------------------------|
|**Total assets less current liabilities**||1,592,269|1,452,099|
|||-----------------------------------------|-----------------------------------------|
|**Net assets**||1,592,269|1,452,099|
|||=========================================|=========================================|
|**Funds of the charity**||||
|Restricted funds||10,251|–|
|Unrestricted funds||1,582,018|1,452,099|
|||-----------------------------------------|-----------------------------------------|
|**Total charity funds**|**19**|1,592,269<br>=========================================|1,452,099<br>=========================================|



These financial statements were approved by the board of trustees and authorised for issue on 10 January 2025, and are signed on behalf of the board by: 


**The notes on pages 7 to 17 form part of these financial statements.** 

**6** 



**ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** 

## **Year ended 31 March 2024** 

## **1. General information** 

The charity is registered in Scotland, Charity Registration No SC031858, and is unincorporated. The address of the principal office is 80 Main Street, Davidson's Mains, Edinburgh EH4 5AB. The principal activity of the charity is to provide Islamic education to the community by using modern teaching techniques. 

## **2. Statement of compliance** 

The financial statements have been prepared in compliance with, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - second edition issued October 2019, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest pound. Association of Scottish Muslims meets the definition of a public benefit entity under FRS102. The financial statements solely relate to the individual entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Disclosure exemptions** 

Only larger entities, as defined in the Charities SORP (FRS 102), must provide a statement of cash flows in their financial statements. Accordingly, as the charity is not a larger entity, it has not presented a statement of cash flows. 

**7** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Judgements and key sources of estimation uncertainty** 

In the application of the charity's accounting policies the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.  As the estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant, actual results may differ from these estimates.  The estimates and underlying assumptions are reviewed on an ongoing basis and those that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are the useful economic lives of tangible assets and depreciation charge: 

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The depreciation charge is also sensitive to estimates made by the Trustees when apportioning the cost of land and buildings acquired together between their respective elements: depreciation is provided in respect of buildings but not land.  The useful economic lives and residual values are reassessed annually.  They are amended when necessary to reflect current estimates based on technological advancement, future investments, economic utilisation and the physical condition of the asset.  See note 15 for carrying amounts of tangible assets. 

Other estimation techniques - Donations received via the Just Giving platform: 

The gift aid element of such donations is unrestricted. The Trustees have estimated the proportion of donations received via Just Giving which are in respect of gift aid, as being 25% of each donation made, after making a suitable adjustment for charges as mentioned below. 

As donations should be stated in the accounts gross of any platform or other charges for their collection then, in determining the amounts of such charges to be included in the accounts of the charity as an expense, the Trustees have used Just Giving's published rates being: a processing fee of 1.9% of the donation + 20p, together with a charge of 5% of any gift aid collected. Whilst in addition to the foregoing the donor can make a voluntary contribution to Just Giving this is not included as an expense in the accounts of the charity. 

## **Fund accounting** 

The charity has 2 major classifications of funds which are separately disclosed in the accounts:- 

Unrestricted funds are funds which are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment. 

Restricted funds which the funder has specified are to be solely used for particular areas of the charity's work or for a specific project. 

**8** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- income from charitable activities relates to Class fees and is recognised when receivable. 

## **Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred and is classified under headings of the statement of financial activities to which it relates: As the charity is not registered for VAT expenditure is stated gross of VAT. 

- expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- support costs are those costs incurred to facilitate an activity. Support costs relating to a specific activity are allocated directly to that activity. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows: 

- Freehold property - Buildings: 50 years straight line. Land: nil. Fixtures and fittings - 4 - 10 years straight line Motor vehicles - 25% straight line 

**9** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Financial instruments** 

The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

## Debtors: 

Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## Cash at bank and in hand: 

Cash at bank and in hand consists of short term highly liquid bank deposits none of which have a notice period exceeding 7 days. 

## Current asset investments: 

This consists of monies on loan with anticipated repayment periods of 1-2 years. These are stated in the accounts at the principal amount outstanding together with accrued interest where applicable. 

## Creditors and provisions: 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

**10** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **4. Donations and legacies** 

||||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|---|
||||Funds|Funds|**2024**|
||||£|£|**£**|
||**Donations**|||||
||Donations||107,484|103,026|210,510|
||||================================|================================|================================|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||**Donations**|||||
||Donations||110,647|70,702|181,349|
||||================================|============================|================================|
|**5.**|**Charitable activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Class fees|201,792|201,792|174,164|174,164|
|||================================|================================|================================|================================|
|**6.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Other investment income|30,000|30,000|25,583|25,583|
|||============================|============================|============================|============================|
|**7.**|**Other income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Gain on disposal of fixed assets|400|400|–|–|
||Other income|561|561|414|414|
|||--------------|--------------|--------------|--------------|
|||961|961|414|414|
|||==============|==============|==============|==============|
|**8.**|**Costs of raising donations and**|**legacies**||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2024**|
||||£|£|**£**|
||Platform charges||3,197|–|3,197|
||||=======================|==============|=======================|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||Platform charges||2,423|1,321|3,744|
||||=======================|=======================|=======================|



**11** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **9. Expenditure on charitable activities by fund type** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|**Direct costs**||||
|Lecturers and staff costs|141,314|–|141,314|
|Learning materials & stationery|6,596|–|6,596|
|Heat & light|10,991|–|10,991|
|Rates and insurance|4,106|–|4,106|
|Repairs & maintenance|15,371|–|15,371|
|Depreciation|13,708|–|13,708|
|Donations|–|92,775|92,775|
|**Support costs**||||
|Motor & travel|2,331|–|2,331|
|Volunteer expenses|3,075|–|3,075|
|Telephone|1,039|–|1,039|
|Miscellaneous|3,297|–|3,297|
|Professional fees|1,683|–|1,683|
|Independent examiners' remuneration|2,880|–|2,880|
|Events & activities|730|–|730|
||--------------------------------|----------------------------|--------------------------------|
||207,121|92,775|299,896|
||================================|============================|================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|**Direct costs**||||
|Lecturers and staff costs|123,419|–|123,419|
|Learning materials & stationery|1,300|–|1,300|
|Heat & light|6,103|–|6,103|
|Rates and insurance|1,884|–|1,884|
|Repairs & maintenance|9,187|–|9,187|
|Depreciation|10,917|–|10,917|
|Donations|–|82,042|82,042|
|**Support costs**||||
|Motor & travel|1,903|–|1,903|
|Volunteer expenses|1,990|–|1,990|
|Telephone|788|–|788|
|Miscellaneous|4,528|–|4,528|
|Professional fees|3,110|–|3,110|
|Independent examiners' remuneration|1,970|–|1,970|
|Events & activities|2,352|–|2,352|
||--------------------------------|----------------------------|--------------------------------|
||169,451|82,042|251,493|
||================================|============================|================================|



The Trustees consider that there is a single charitable activity which is to provide Islamic education to the community. 

The Trustees consider: the independent examiner's remuneration of £2,880 (2023 - £1,970) and £1,683 (2023 - £0) of the professional fees to be governance costs. 

**12** 



**ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **9. Expenditure on charitable activities by fund type (continued)** 

In common with many charities of our size we use our independent examiner to assist with the preparation of the statutory financial statements. The total independent examiner's remuneration for the year was £2,880 (2023 - £1,970) however this has not been split between that which related to the preparation of the accounts and that which related to the independent examination. 

Of the donations made by the charity the largest donations were: 

£28,040 (2023 - £10,680) to the World Care Foundation £22,266 (2023 - £30,502) to Islamic Relief Payments totalling £19,926 (2023 - £9,268) were made to Green Rentail and Bestway Wholesale in connection with donations to a food bank. 

£14,208 (2023 - £19,000) to the Well Foundation £4,805 (2023 - £1,000) to the Al-Khair Foundation £0 (2023 - £5,000) to Syria Relief 

The donations were entirely funded via restricted donations received following specific appeals. As the encouragement of donating is an important aspect of the teaching of Islamic faith the Trustees consider it appropriate that the donations be treated as charitable expenditure in the accounts. 

## **10. Taxation** 

Association of Scottish Muslims is a registered charity and as such its activities fall within the exemptions afforded by Section 505 of the Income and Corporation Taxes Act 1988. Accordingly, no provision is considered necessary for taxation. 

## **11. Net income** 

Net income is stated after charging/(crediting): 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Depreciation of tangible fixed assets|13,708|10,917|
|Gains on disposal of tangible fixed assets|(400)<br>============================|–<br>============================|



**13** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **12. Independent examination fees** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Fees payable to the independent examiner for:|||
|Independent examination of the financial statements|2,880<br>=======================|1,970<br>=======================|



See note 9 for further details regarding the independent examiner's remuneration. 

## **13. Staff costs** 

|The total staff costs and employee benefits for the reporting period are analysed as|The total staff costs and employee benefits for the reporting period are analysed as|follows:|
|---|---|---|
||**2024**|2023|
||**£**|£|
|Wages and salaries|141,314|122,768|
|Social security costs|–|651|
||--------------------------------|--------------------------------|
||141,314|123,419|
||================================|================================|



The average head count of employees during the year was 19 (2023: 18). 

No employee received employee benefits of more than £60,000 during the year (2023: Nil). 

## **Key Management Personnel** 

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £8,743 (2023:£6,005). 

## **14. Trustee remuneration and expenses** 

During the year: 

-  remuneration of £8,743 (2023 - £6,005) was paid to , trustee, for the provision of teaching services. No other trustees received any remuneration or benefits from the charity or a related entity; 

-  no expenses (2003 - nil) were reimbursed to the trustees 

See separate note regarding other transactions with trustees. 

**14** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **15. Tangible fixed assets** 

|||Freehold||||
|---|---|---|---|---|---|
|||land and|Fixtures and|Motor||
|||buildings|fittings|vehicles|**Total**|
|||£|£|£|**£**|
||**Cost**|||||
||At 1 Apr 2023|804,424|7,420|5,689|817,533|
||Additions|–|1,165|10,000|11,165|
||Disposals|–|–|(5,689)|(5,689)|
|||--------------------------------|-----------------------|----------------------------|--------------------------------|
||**At 31 Mar 2024**|804,424|8,585|10,000|823,009|
|||================================|=======================|============================|================================|
||**Depreciation**|||||
||At 1 Apr 2023|80,464|4,634|5,689|90,787|
||Charge for the year|10,058|1,150|2,500|13,708|
||Disposals|–|–|(5,689)|(5,689)|
|||--------------------------------|-----------------------|----------------------------|--------------------------------|
||**At 31 Mar 2024**|90,522|5,784|2,500|98,806|
|||================================|=======================|============================|================================|
||**Carrying amount**|||||
||**At 31 Mar 2024**|713,902|2,801|7,500|724,203|
|||================================|=======================|============================|================================|
||At 31 Mar 2023|723,960|2,786|–|726,746|
|||================================|=======================|============================|================================|
|**16.**|**Debtors**|||||
|||||**2024**|2023|
|||||**£**|£|
||Prepayments and accrued income|||1,443|1,817|
||Other debtors|||1,416|–|
|||||-----------------------|-----------------------|
|||||2,859|1,817|
|||||=======================|=======================|
|**17.**|**Investments**|||||
|||||**2024**|2023|
|||||**£**|£|
||Other investments|||300,000|315,000|
|||||================================|================================|



The investment of £300,000 at 31 March 2024 related to a loan to another charity. The loan is secured and is due to be repaid within 1-2 years. Income of £30,000 (2023 - £14,583) was receivable in the year in relations to this loan. 

## **18. Creditors: amounts falling due within one year** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Accruals and deferred income|9,313|4,220|
|Social security and other taxes|3,409|1,941|
|Other creditors|–|11,106|
||----------------------------|----------------------------|
||12,722|17,267|
||============================|============================|



**15** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **19. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||At||||**At**|
||1 Apr 2023|Income|Expenditure|Transfers|**31 Mar 2024**|
||£|£|£|£|£|
|General funds|1,392,368|340,237|(210,318)|–|1,522,287|
|Designated fund|59,731|–|–|–|59,731|
||-----------------------------------------|--------------------------------|--------------------------------|--------------|-----------------------------------------|
||1,452,099|340,237|(210,318)|–|1,582,018|
||=========================================|================================|================================|==============|=========================================|
||At||||At|
||1 Apr 2022|Income|Expenditure|Transfers|31 Mar 2023|
||£|£|£|£|£|
|General funds|1,246,234|310,808|(171,874)|7,200|1,392,368|
|Designated fund|66,931|–|–|(7,200)|59,731|
||-----------------------------------------|--------------------------------|--------------------------------|-----------------------|-----------------------------------------|
||1,313,165<br>=========================================|310,808<br>================================|(171,874)<br>================================|–<br>=======================|1,452,099<br>=========================================|



## **Nature and Purpose of Designated Funds** 

In the accounts for the year ended 31 March 2021 the Trustees designated £85,000 to be used to fund the building of an extension to the Mosque. The transfers from this fund to general reserves in the previous year relates to capital expenditure incurred on professional fees regarding the extension. 

## **Restricted funds** 

|**Restricted funds**|||||||
|---|---|---|---|---|---|---|
|||At||||**At**|
||1|Apr 2023|Income|Expenditure|Transfers|**31 Mar 2024**|
|||£|£|£|£|£|
|Restricted donations||–|103,026|(92,775)|–|10,251|
|||==============|================================|============================|==============|============================|
|||At||||At|
||1|Apr 2022|Income|Expenditure|Transfers|31 Mar 2023|
|||£|£|£|£|£|
|Restricted donations||12,661|70,702|(83,363)|–|–|
|||============================|============================|============================|==============|==============|



## **Nature and Purpose of Restricted Funds** 

Restricted donations relate to donations received during the year for specific causes. The funds so received were then donated onwards to third party organisations. More details as to the recipients of these donations can be found in note 9 to the accounts. 

**16** 



## **ASSOCIATION OF SCOTTISH MUSLIMS** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2024** 

## **20. Analysis of net assets between funds** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|Tangible fixed assets|724,203|–|724,203|
|Current assets|857,815|10,251|868,066|
||-----------------------------------------|----------------------------|-----------------------------------------|
|**Net assets**|1,582,018|10,251|1,592,269|
||=========================================|============================|=========================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|Tangible fixed assets|726,746|–|726,746|
|Current assets|725,353|–|725,353|
||-----------------------------------------|--------------|-----------------------------------------|
|**Net assets**|1,452,099|–|1,452,099|
||=========================================|==============|=========================================|



## **21. Post balance sheet events** 

Following the year end the charity acquired a new mosque branch for £605,786. 

## **22. Transactions with trustees & other related party transactions** 

Transactions with Trustees : 

A salary of £769 (2023 - £3,510) was paid in the year to their son. 

The charity paid £1,776 during the year to Dunedin Property Management Ltd (DPM Ltd) regarding repairs & maintenance costs. DPM Ltd is a company controlled by 

Included in other debtors is an amount of £1,416 due from Taskshore Ltd, a company controlled by . 

Transactions with Trustee : Salaries of £4,342 (2023 - £3,672) and £10,526 (2023 - £19,524) were paid in the year to the respectively. 

See also the separate note on remuneration to Trustees. 

There were no other related party transactions in the current or previous year which require disclosure. 

**17**