REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements for the Year Ended 30th September 2023 |
for |
FINE ISLAMIC CENTRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements for the Year Ended 30th September 2023 |
for |
FINE ISLAMIC CENTRE |
FINE ISLAMIC CENTRE |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
Page |
Reference and Administrative Details | 1 |
Trustees' Report | 2 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 |
Notes to the Financial Statements | 8 | to | 12 |
FINE ISLAMIC CENTRE |
Reference and Administrative Details |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
TRUSTEES |
REGISTERED OFFICE |
PRINCIPAL ADDRESS | 95 Bloemfontein Road |
London |
W12 7DA |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Silver Arc |
Chartered Certified Accountants |
1 Quality Court |
Chancery Lane |
London |
WC2A 1HR |
BANKER | Metro Bank |
One Southampton Row |
London, WC1B 5HA |
FINE ISLAMIC CENTRE (REGISTERED NUMBER: 12852476) |
Trustees' Report |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
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 30th September 2023. 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 |
Objectives and aims |
The Fine Islamic Centre, a registered charity in the UK, was formed in 2021. The centre's purpose is to advance the Islamic faith through the provision of a wide range of spiritual, educational and social services enriched with Islamic values that fulfil the needs of the Muslim and the wider community. The Centre is governed by the Constitution which set out the rules and aims of the Fine Islamic Centre. The trustees, who also serve as directors for Fine Islamic Centre under company law, bear the responsibility for preparing financial statements in compliance with the Companies Act 1985 and United Kingdom Accounting Standards. |
Significant activities |
We continue to focus on the aims and objectives of the charity, all of the following activities are in line with the aims of the charity as outlined in the constitution. |
- Five congregational prayers including Friday and Eid prayers |
- Madrassa for children aged 5 to 15 |
- Community Iftar (Every Monday & Thursday during ramadan) |
- Nikah (marriage) services |
- Marriage counselling |
- Youth and Social Development |
- Quran classes for men & women |
- Arabic classes for men & women |
- Hifz classes (memorisation of the Quran) |
- Islamic Tours |
- Zakat collection & distribution |
- Fundraising Events |
- Educational talks |
Public benefit |
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. These activities fit within the following descriptions of charitable purposes as set out in the Charities Act, for the benefit of the public |
- the advancement of religion |
- the advancement of education |
- the prevention or relief of poverty |
Volunteers |
Most of the charity's activities involve volunteers in the delivery of its activities. We are, as always, grateful to these volunteers in making the activities of our centre a spiritual and pleasant experience for the public. |
FINE ISLAMIC CENTRE (REGISTERED NUMBER: 12852476) |
Trustees' Report |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Our main achievement during this challenging year was to be able to help those in need in our community despite the pandemic and the risks to health. The pandemic has affected economically but we tried our best to help as much as possible through food bank and buying basic essentials. |
Fine Islamic Centre has provided religious facilities for prayers, seminars and gatherings. The organisation has provided after school provision for children from the local area; this includes development of their religious understanding of Islam and other religions, academic studies and sporting and leisure opportunities. The organisation has also hosted a number of events for local schools, colleges and university students to give them an insight into Islam as part of their religious education studies. The organisation has held a number of health and well-being workshops with registered health professionals. The organisation also provides a number of ladies only events, which fulfils a growing local demand. The organisation has also contributed to other charities who are better equipped to deal with charitable causes. |
EVENTS DURING THE YEAR |
Local fundraising events to engage with the community & to provide information about the charity's mission. |
- Islamic Calligraphic Art Exhibition |
- Quran competition |
- History Tours |
- Madrassa Award Ceremony |
- Umrah Tour |
- Fundraising Dinner |
These events serve not only as crucial fundraising opportunities but also as occasions to build community engagement, raise awareness, and promote the charitable organisation' mission throughout the year. |
FINANCIAL REVIEW |
Financial position |
Donations from the public and cash raised from fund raising events continue to be the source of the Charity's general fund to meet on-going and future projects and activities. Sound financial management and generous support of volunteers continues to be the cornerstone of the charity. |
Reserves policy |
The charity has a reserve policy, which identifies a minimum level of unrestricted reserve to ensure its core activity could continue during a period of difficulty and to take account of potential risks and emergencies that may arise from time to time. |
An analysis of expenditure is shown in the Statement of Financial Activities on page 10 & 11. |
The reserves currently stands at £26,033 and details are as follows: |
Unrestricted funds £26,033 |
Restricted funds £0 |
FUTURE PLANS |
The charity endeavours to work on |
- Expansion of the building |
- Facilities to allow easy access for more people to come to the masjid |
- Fundraising events |
- Support local community through food bank |
- Collaboration with other charities |
- Working with local Council |
FINE ISLAMIC CENTRE (REGISTERED NUMBER: 12852476) |
Trustees' Report |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
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. |
Organisational structure |
COMPLAINTS HANDLING |
We have a complaints policy in place, and a complaint can be submitted to us through various channels, including in person, by telephone, via email, or using our website's contact form. All complaints will be handled in accordance with our policy. |
GENERAL DATA PROTECTION REGULATION (GDPR) |
Fine Islamic Centre adheres to the GDPR principles of lawfulness, transparency confidentiality and accountability. We document and regularly review all data processing activities to ensure transparency and compliance with GDPR requirements. |
IT & Data Storage |
Fine Islamic Centre is reliant upon electronically stored data. However, the damage to our computer systems will not disrupt any of our operations. This is because copies of all our data have been made to keep the information, we have secure. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Fine Islamic Centre |
Independent examiner's report to the trustees of Fine Islamic Centre ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Usman Zahoor (FCCA) |
The Association of Chartered Certified Accountants |
Silver Arc |
Chartered Certified Accountants |
1 Quality Court |
Chancery Lane |
London |
WC2A 1HR |
7th August 2024 |
FINE ISLAMIC CENTRE |
Statement of Financial Activities |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
30/9/23 | 30/9/22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities | 2 |
Total |
EXPENDITURE ON |
Charitable activities | 3 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 9 | (1,453 | ) | 1,453 | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | ( |
) | ( |
) |
TOTAL FUNDS CARRIED FORWARD | (3,176 | ) |
FINE ISLAMIC CENTRE (REGISTERED NUMBER: 12852476) |
Balance Sheet |
30TH SEPTEMBER 2023 |
30/9/23 | 30/9/22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
FUNDS | 9 |
Unrestricted funds | (3,176 | ) |
TOTAL FUNDS | (3,176 | ) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 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. |
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 |
FINE ISLAMIC CENTRE |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
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. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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. |
2. | INCOME FROM CHARITABLE ACTIVITIES |
30/9/23 | 30/9/22 |
Activity | £ | £ |
Umrah Donations | Religious trips | 107,755 | 46,494 |
Donation Lilah | Mosque & Community | 65,121 | 35,821 |
FINE ISLAMIC CENTRE |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
3. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 4) | Totals |
£ | £ | £ |
Ramadhan | 3,420 | - | 3,420 |
Religious trips | 109,208 | - | 109,208 |
Mosque & Community | 28,764 | 2,275 | 31,039 |
141,392 | 2,275 | 143,667 |
4. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Mosque & Community | 475 | 1,800 | 2,275 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30th September 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30th September 2023 nor for the year ended 30th September 2022. |
6. | STAFF COSTS |
30/9/23 | 30/9/22 |
£ | £ |
Wages and salaries |
2,430 | - |
The average monthly number of employees during the year was as follows: |
30/9/23 | 30/9/22 |
Engaged on management and administration |
FINE ISLAMIC CENTRE |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
TOTAL FUNDS CARRIED FORWARD | (3,176 | ) | - | (3,176 | ) |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/9/23 | 30/9/22 |
£ | £ |
Trade creditors |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net | Transfers |
At | movement | between | At |
1.10.22 | in funds | funds | 30.9.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | (3,176 | ) | 30,662 | (1,453 | ) | 26,033 |
Restricted funds |
Restricted fund | - | (1,453 | ) | 1,453 | - |
TOTAL FUNDS | ( |
) | 29,209 | 26,033 |
FINE ISLAMIC CENTRE |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
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 | 65,121 | (34,459 | ) | 30,662 |
Restricted funds |
Restricted fund | 107,755 | (109,208 | ) | (1,453 | ) |
TOTAL FUNDS | ( |
) | 29,209 |
Comparatives for movement in funds |
Net |
At | movement | At |
1.10.21 | in funds | 30.9.22 |
£ | £ | £ |
Unrestricted funds |
General fund | - | (3,176 | ) | (3,176 | ) |
TOTAL FUNDS | - | (3,176 | ) | (3,176 | ) |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 35,821 | (38,997 | ) | (3,176 | ) |
Restricted funds |
Restricted fund | 46,494 | (46,494 | ) | - |
TOTAL FUNDS | 82,315 | (85,491 | ) | (3,176 | ) |
FINE ISLAMIC CENTRE |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2023 |
9. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
At | movement | between | At |
1.10.21 | in funds | funds | 30.9.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | - | 27,486 | (1,453 | ) | 26,033 |
Restricted funds |
Restricted fund | - | (1,453 | ) | 1,453 | - |
TOTAL FUNDS | - | 26,033 | - | 26,033 |
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 | 100,942 | (73,456 | ) | 27,486 |
Restricted funds |
Restricted fund | 154,249 | (155,702 | ) | (1,453 | ) |
TOTAL FUNDS | 255,191 | (229,158 | ) | 26,033 |
10. | RELATED PARTY DISCLOSURES |