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REGISTERED COMPANY NUMBER: 08246178 (England and Wales)
REGISTERED CHARITY NUMBER: 1158383














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 October 2022

for

Oswestry Muslim Centre

Oswestry Muslim Centre






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4 to 5

Notes to the Financial Statements 6 to 10

Oswestry Muslim Centre (Registered number: 08246178)

Report of the Trustees
for the Year Ended 31 October 2022


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
The Charity is established for charitable purposes and the objects of the Charity are:-

To promote for the benefit of the Muslim inhabitants of Oswestry and the surrounding area the provision of facilities for recreation and other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the conditions of life of the said inhabitants.

To advance the Islamic Religion for the benefit of the public in Oswestry in accordance with the Qur'an and Sunnah.

Such other charitable purposes for the benefit of the Muslim inhabitants of Oswestry as the trustees shall think fit.

ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The charity undertook fundraising campaign during the accounting period and it has been successful.

The charity acquired permanent premises in the previous year. During the current year major renovation works have started to uplift the premises, the charity anticipates the works to be completed by next year.

FINANCIAL REVIEW
Reserves policy
The trustees have established a policy whereby the unrestricted funds held by the charity should be between 3 and 6 months of the resources expended. At this level, the management committee feel that they would be able to continue the current activities of the charity in the event of a significant drop in the funding.

The management committee meet as required to review the activities and finances of the charity.

Total incoming resources for the period amounted to £14,533 (2021: £60,537) with a net surplus of £4,472 (2021 £53,078) at the year end.

FUTURE PLANS
The charity hopes to continue with its fundraising campaign in the coming year in order to fulfil its objects.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.


Oswestry Muslim Centre (Registered number: 08246178)

Report of the Trustees
for the Year Ended 31 October 2022

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08246178 (England and Wales)

Registered Charity number
1158383

Registered office
Skn Business Centre
1 Guildford St
Birmingham
B19 2HN

Trustees
R Abdullah Trustee
C Ali Trustee
F Miah Trustee

Approved by order of the board of trustees on 11 October 2023 and signed on its behalf by:





R Abdullah - Trustee

Oswestry Muslim Centre

Statement of Financial Activities
for the Year Ended 31 October 2022

31.10.22 31.10.21
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 14,533 60,537

EXPENDITURE ON
Raising funds 2 816 816

Charitable activities
Charitable 9,245 6,643
Total 10,061 7,459

NET INCOME 4,472 53,078


RECONCILIATION OF FUNDS
Total funds brought forward 202,091 149,013

TOTAL FUNDS CARRIED FORWARD 206,563 202,091

Oswestry Muslim Centre (Registered number: 08246178)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 205,948 197,732

CURRENT ASSETS
Cash at bank 16,815 19,959

CREDITORS
Amounts falling due within one year 7 (1,200 ) (600 )

NET CURRENT ASSETS 15,615 19,359

TOTAL ASSETS LESS CURRENT
LIABILITIES

221,563

217,091

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(15,000

)

NET ASSETS 206,563 202,091
FUNDS 9
Unrestricted funds 206,563 202,091
TOTAL FUNDS 206,563 202,091

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Oswestry Muslim Centre (Registered number: 08246178)

Balance Sheet - continued
31 October 2022

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2023 and were signed on its behalf by:





R Abdullah - Trustee

Oswestry Muslim Centre

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Oswestry Muslim Centre

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

2. RAISING FUNDS

Raising donations and legacies
31.10.22 31.10.21
£    £   
Support costs 600 600

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 60,537

EXPENDITURE ON
Raising funds 816

Charitable activities
Charitable 6,643
Total 7,459

NET INCOME 53,078


RECONCILIATION OF FUNDS
Total funds brought forward 149,013

TOTAL FUNDS CARRIED
FORWARD

202,091


Oswestry Muslim Centre

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

5. COMPANY LIMITED BY GUARANTEE

Members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of a winding up. The total number of such guarantees at 31 October 2022 was 3 (2021: 3).

6. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 November 2021 197,732
Additions 8,216
At 31 October 2022 205,948
NET BOOK VALUE
At 31 October 2022 205,948
At 31 October 2021 197,732

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Trade creditors 1,200 600

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.22 31.10.21
£    £   
Other creditors 15,000 15,000

9. MOVEMENT IN FUNDS
Net
At movement At
1.11.21 in funds 31.10.22
£    £    £   
Unrestricted funds
General fund 202,091 4,472 206,563

TOTAL FUNDS 202,091 4,472 206,563

Oswestry Muslim Centre

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 14,533 (10,061 ) 4,472

TOTAL FUNDS 14,533 (10,061 ) 4,472


Comparatives for movement in funds

Net
At movement At
1.11.20 in funds 31.10.21
£    £    £   
Unrestricted funds
General fund 149,013 53,078 202,091

TOTAL FUNDS 149,013 53,078 202,091

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 60,537 (7,459 ) 53,078

TOTAL FUNDS 60,537 (7,459 ) 53,078

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1.11.20 in funds 31.10.22
£    £    £   
Unrestricted funds
General fund 149,013 57,550 206,563

TOTAL FUNDS 149,013 57,550 206,563

Oswestry Muslim Centre

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 75,070 (17,520 ) 57,550

TOTAL FUNDS 75,070 (17,520 ) 57,550

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2022.