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2022-11-30-accounts

DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

TRUSTEES’ REPORT & FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30[TH] NOVEMBER 2022

DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

CONTENTS

Page(s)

Report of the Trustees’

1 – 8

Independent auditor’s report to the trustees of Amanat Charity Trust 9 – 11 Statement of financial activities Balance sheet Cash flow statement Notes to the financial statements 15 – 25

Trustees' Report and Financial Statements

DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

1. Introduction

The trustees present their report along with the consolidated financial statements of the charity and its subsidiary for the year ended 30 November 2022. The financial statements have been prepared based on the accounting policies set out in note 1 to the financial statements and comply with the charity’s Trust Deed.

Amanat Charity Trust is a charity registered with the Charity Commission under registration number 1000851, and its working name is Ummah Welfare Trust.

2. Mission Statement

To sustainably support lives and livelihood of the most desperate communities around the world with education, infrastructure and relief.

Vision

"to preserve life, faith, and dignity with compassion and self-sacrifice”

The charity is committed to its unique 100% donations policy – ensuring that not a single penny from donations is spent for administrative purposes.

3. Activities

The activities currently carried out for the public benefit by the charity can be broadly categorised into the following groups of programmes:

In reviewing our aims and objectives and setting our programme each year we have regard to both the Charity Commission’s general guidance on public benefit, and prevention and relief of poverty and suffering for the public benefit. The trustees always ensure that the programmes we undertake are in line with our charitable objects and aims.

Our ambitious aim is to eradicate poverty and suffering in the areas where we work, and throughout this report we illustrate how our work furthers our charitable purposes and the significant benefits it brings to communities and individuals in the UK and abroad who are in urgent need of support.

4. How we work

The charity delivers its charitable aims in two ways:

Work carried out by the partner organisations is especially useful where the charity has no established infrastructure for managing staff and operations or where it provides a more economical approach than using our own staff.

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Using both partner organisations and our own local staff helps utilise local knowledge effectively and assists in our relief and development work. During the year, £30.3 million of our programmes were delivered in partnership with a combination of both international and local organisations.

Longer term solutions require that we address the underlying social and economic circumstances across the areas where we work. Economic inequality and conflicts are a continuing source of human suffering throughout the world and through our work we address this inequality and so transform the lives of families and communities. We see the practical expression of our charitable aims as to ensure all people in the areas we are working, enjoy a minimum standard of nutrition, access to shelter, safe drinking water, sanitation and healthcare and the opportunity for good education and to have the life skills to earn a secure livelihood.

We decide on where we work, taking into account the following factors:

We have an ethical stance where we seek to provide our programmes without detriment to the local economy or community. To this end where beneficial we seek to locally source labour, materials and supplies in order to ensure that the benefits of our work are maximised across the economy. This approach underpins local businesses, local employment prospects and the viability of the local community.

Over the year we have worked directly with around 3.8 million poor and disadvantaged beneficiaries in 24 different countries and indirectly we believe our work to support sustainable solutions in the communities has enhanced the lives of many more. We regard our plans as indicators and not absolute targets because the key is to resource the right programmes.

As a large charity with so many programmes inevitably this report is a summary and for examples of the effect we have had on rescuing individuals and families from poverty and suffering view our web site www.uwt.org

5. Voluntary help and gifts in kind

The trustees are very grateful to the hundreds of volunteers who helped the charity in carrying out fundraising on their behalf and in particular those who give regular support to our charity shops and recycling work. The public has been very generous in providing gifts in kind, particularly donations of clothing for resale through our shops and clothing banks. Volunteers also provide assistance with events, giving time and supplies to make them a success. Consequently, their contributions go a long way towards the charity’s commitment to its 100% Donations Policy.

6. What we did: Activities, Achievements, Performance

The charity continues to receive high levels of support from the general public as shown by the significant levels of donations received. Due to such high level of support from donors, the charity was not able to continue its planned deficit (more expenditure than income) for third year in a row, which is a part of the trustees’ strategy to reduce the levels of reserves, the charity carries. However, over the next three years the intention is to continue to ensure that increases in charitable expenditure are greater than the income received over the same period, with an expectation for the reserves to be at £5m or less.

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As usual the focus of the charity for this year has again been to plan and develop new projects so that the expectation for the reserves target can be achieved without compromising the standards of the accountability and feedback. To that extent the charity continues to carry out humanitarian and development work in disaster and conflict hit areas of the world, resulting in greater provision of emergency aid to the poverty-stricken peoples of those areas. The resources expended this year were £61.0m, compared to £51.0m last year.

The charity continues to focus on rehabilitation and education projects as it seeks to help those affected to get back on their feet.

This has been achieved through the themes of the humanitarian and development aid programmes.

Under these themes the charity has longer term and relief projects in the following areas:

The charity has built on its existing partnerships to create strong working relationships with local organisations in different parts of the world to work hand in hand in distributing the aid. It is also actively continuing to increase its networks of partner organisations throughout the world to enable it to increase its reach into areas of the world which are hard and difficult to work in and get to but where the need is most dire.

A note must be made of the hard work of those trustees, volunteers and staff members who have been personally involved in carrying out distribution of the aid in all parts of the world. They spent their own time overseas in ensuring that the aid reached places where it was needed. The charity is indebted to the service they have provided.

7. Financial review

During the year the charity raised £50,267,986 (2021: £47,694,133) in direct donations from the general public to carry out the programmes mentioned above. During the year £60,109.304 (2021: £50,302,069) was used on aid programmes.

The charity continues to work closely with a number of partner organisations in providing aid to the needy and, of the above expenditure, £30,346,168 (2021: £28,222,955) was spent with these partner organisations (note 7 provides further analysis).

As shown on page 12, £57.062,656 (2021: £47,675,601) from the restricted funds was expensed for specific projects and £3,945,725 (2021: £3,313,627) from the unrestricted funds was also designated for specific projects via funds transfers.

A small amount was raised with no restrictions from the charity’s trading activities and has been used in the administration of the charity. The income tax recoverable from Gift Aid, the recycling and the charity shops’ income continue to provide the charity with sufficient funds to carry out its charitable objectives.

The charity has helped over 3.8 million beneficiaries in the financial year to 2022, which the trustees are very pleased with and the charity’s aim is to create better projects which not only affect large numbers of beneficiaries but which will also be beneficial for the long term and delivered in a sustainable manner.

Whilst major resources are allocated to meet relief efforts in many countries, the charity continues to focus on its sponsorship programmes. Its orphan sponsorship programmes continued to be popular during the year with a total of 17,882 orphans (2021: 13,157) being cared for by the charity at present.

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The charity will continue to develop support programmes for orphans which will cater for their social wellbeing and educational needs.

In addition, the charity has again delivered successful programmes to provide clean water to improve quality of life of thousands of beneficiaries with 8,074 wells and hand pumps built during the year (2021: 9,543). The charity has historically implemented successful income generation projects to create selfsufficiency and reduce the cycle of poverty, and during the year nearly 15,403 (2021: 14,965) beneficiaries benefitted from such help from the charity. The charity remains committed to continue to increase and fund such projects and is in the process of evaluation new geographical projects to help more beneficiaries.

The charity will continue to increase its education projects as the lack of access to education reduces opportunities significantly and education is the most effective way to address the poverty crisis. In the last year over 228,690 (353,363 in 2021) people benefited from the charity’s education related programmes. Again, the challenge for the charity is to directly address the underlying causes of poverty and tackle them in the most effective, ethical and efficient way possible, and consequently this year the charity has increased the support programmes for poor teachers in more countries.

During the year there has been a small percentage increase in the relative expenditure on administration costs. This was due to increase in additional resources required to deliver the growing operational activities including an increase in the number of employees, expenditure on public relations and advertising, additional infrastructure related expenses like office equipment, rent, telephone and other administrative expenses which the trustees believe are a necessary investment for the future development of the charity and to ensure that the charity is able to continue to deliver efficient services. In 2022 the charity spent £3,672,284 (2021: £3,152,909) on such expenses. The administration expenditure represents only 6.4% (2021: 5.8%) of the revenues generated by the charity which relatively remains very low. The Trustees are committed to ensuring that the administrative expenses are kept to a minimum, and is a fundamental cornerstone of the charity’s ethos and its commitment to the 100% donations policy.

8. Investment policy

The overall objectives are to create sufficient income and capital growth to enable the charity to carry out its purposes consistently year by year with due and proper consideration for future needs and the maintenance of, and if possible, enhancement of the value of the invested funds while they are retained.

Both capital and income may be used at any time for the furtherance of the charity’s aims and therefore the portfolio should be managed on a total return basis.

9. Reserves Policy

It is the intention of the charity to utilise the funds as it receives within a year of receiving them. Reserves are held for long term projects and for responding to emergencies and disasters.

At 30 November 2022, again a large proportion of the reserves were earmarked on for ongoing longterm projects and it should be noted that the projects now being delivered by the charity are longer term, such as the orphan and widows projects, which require reserves to be held over a longer period.

In 2022 the charity spent over £60.1m in carrying out charitable expenditure. This level of expenditure was once again achieved with increased validation and verification procedures carried out by the charity to ensure that funds spent on the ground generated value for money for the donors and provided detailed feedback from beneficiaries.

The trustees’ plan whereby the year on year charitable expenditure will increase, resulting in deficits for the charity, is projected to be on track which will reduce the reserves the charity currently holds to the targeted reserves as set by the trustees.

The unrestricted funds the charity holds are to ensure that it has sufficient reserves to cover the costs of managing and administering the charity for the following year. At the end of each financial year the trustees critically appraise this level and transfer any excess to where it is most needed in terms of aid.

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10. Grant making policy

The trustees consider grant making an effective means of delivering aid using local partners. Local partners have access to facilities, expertise, staff or other resources, in the field and they may be better placed to deliver aid speedily and effectively.

Applications for grants are not invited. Instead trustees actively develop the programmes for the year, identify whether it is most effective to deploy our own staff and resources or whether to seek a local partner for some or all the planned programmes for each geographical locality. Where a local partner is preferable, those organisations active in the target area are reviewed for their track record in the field, financial transparency and operational capability. Those potential partners that meet the criteria are contacted and a dialogue initiated to see if they would act as partners for the charity. Conditional grants are then awarded where applicable local partnerships are established. Our grant making policy is reviewed each year to align our grants with our priorities and programmes activities for the year.

11. Plans for the Future

Overall the charity will continue to meet its stated objectives over the next few years and will increase its focus on key development projects, and as such will continue to focus its attention on infrastructure, education and relief related projects and programmes where needed most. Given the scale of poverty and hardship in the areas of charity’s operation, the Trustees have decided to increase the aid and development operations over the coming years with ultimate aim to have minimum level of reserves in the coming years.

12. Risk Management

All significant activities undertaken are subject to a risk review as part of the initial activity assessment and implementation. Major risks are identified and ranked in terms of their potential impact and likelihood.

Major risks, for this purpose, are those that may have a significant effect on:

The trustees review these risks on an ongoing basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. Where appropriate, risks are covered by insurance.

The following framework is central to ensuring adequate risk assurance:

We have again continued to pay particular attention during the year to increasing the coverage of internal audit and to addressing the heightened risks to our staff and partners operating in areas of unrest. We are therefore continuing to review our training programme for our workers going overseas and continue to monitor all programmes in conflict zones to assess whether local staff would be more appropriate for certain programmes. In assessing risk our trustees recognise that some areas of our work require the acceptance and management of risk if our key objectives are to be achieved. The charity has continued to apply robust due diligence policy and use of World Check tool to assess against suitability of its personnel and partners. The World Check has been upgraded to an advanced version to help increase the level of due diligence. In addition, the trustees have procured Nexis as an additional

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system to help with stringent due diligence measures used by the charity. A head of Policy has also been recruited to head and oversee the implementation of enhanced due diligence.

13. Objects, Structure, Governance and Management, Our legal objects

13.1 Trustees and organisational structure

Amanat Charity Trust is an international non-governmental, non-political organisation and is constituted under a charity deed dated 19[th] October 1990 (as amended on 10[th] April 2012). New trustees were appointed in 2001 when it started operating under the name of Ummah Welfare Trust. It is registered as a charity with the Charity Commission. The Charity deed defines the charity’s objects as being:

“To relieve poverty and deprivation throughout the world and to relieve suffering by way of emergency intervention and/or establishing development programmes”.

Our Charity Commission registration number is 1000851.

The trust deed requires a minimum of three trustees. Trustees can serve until they either resign or die. All our existing trustees have long experience of being a charity trustee and aside from some expenses are not remunerated for their trusteeship. Our trustees are unpaid and details of trustee expenses and any related party transactions are disclosed in note 11 of the accounts.

The charity operates a unique 100% donations policy where not a single penny is deducted from charitable donations. The trustees are absolutely committed to retain this policy in future.

13.2 Trustees

Our trustees are responsible for setting the strategy and are responsible in law for the running of Amanat Charity Trust. All the trustees, except where otherwise stated, served for the whole year:

• Mohammed Seedat • Mohammad Idrees • Zakir Patel • Iqbal Rawat • Idris Atcha

Where new trustees are appointed they are given a formal induction to the work of the charity and provided with the information they need to fulfil their roles, which includes information about the role of trustees and charity law.

New trustees are nominated by members of the board of trustees, interviewed by a panel of trustees and appointed where they have the necessary skills to contribute to the charity’s management and development.

Each trustee takes responsibility for monitoring the charity’s activities in specific operational areas.

13.3 Executive Officer

The Chief Operating Officer is responsible to support the trustees on the governance and regulatory matters as a dedicated resource. Also, the COO oversees the day to day operation of the charity and manages the staff of the charity on behalf of the trustees. He heads up our staff team who advise on and deliver the strategy and programmes of Amanat Charity Trust.

13.4 Compliance & Policies Department

A fully functional Compliance Department looks after legal and regulatory compliance; development and implementation of policies, procedures and manuals; training of staff; due diligence of donors, partners, suppliers & beneficiaries; risk management and mitigating at all levels and coordination with

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external stakeholders including the Charity Commission, HM Treasury, Banks, Information Commissioner’s Office, HMRC etc. In addition to this, the department also monitors UWT’s fundraising practices and oversees media & public relations. The Compliance Department also endeavours to ensure programme quality.

The Compliance Department carries out a financial and non-financial internal audit across the organisation. Similarly, all donations are monitored to ensure anti-money laundering compliance and also to validate that our fundraising is as per the standards set by UK Charity Commission and Fundraising Regulator. Our Anti Money Laundering policy encompasses stringent measures designed to detect, prevent, and report suspicious financial activities. In this regard, the Compliance Department conducts regular training of the relevant staff. We have also appointed a Money Laundering Reporting Officer. We prioritise data protection and privacy and have stringent data management practices, confidentiality agreements, and appropriate safeguards to protect personal and sensitive information.

13.5 Advisers

To help us in our work we retain a number of professional advisers:

Auditor: Cowgill Holloway LLP, Chartered Accountants, Regency House 45 - 53 Chorley New Road, Bolton, BL1 4QR. Banker: Al Rayan Bank, 24a Calthorpe Road, Edgbaston, Birmingham, B16 6AQ Solicitor: Forbes Solicitors, Rutherford House, 4 Wellington Street (St Johns) Blackburn, Lancashire, BB1 8DD

13.6 Principle office

578-600 ST Helens Road Bolton BL3 3SJ

The charity has its headquarters in Bolton and has offices in London, Birmingham, Glasgow and Leicester. It has overseas offices in Sierra Leone and the Gambia which it uses to direct operations in those countries. The charity has a number of partner organisations with whom it co-operates to deliver its programmes.

In addition, the charity raises funds through a network of charity shops. The shops sell second hand goods donated by the public, and these shops also provide an outlet for publicity material for the charity, and collect donations for the general work of the charity. The charity also has shops operating through a wholly-owned trading subsidiary, Ummah Shops Limited which sells brand new goods.

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14. Trustees’ responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial 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 these financial statements, the Trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure to auditors

So far as the Trustees are aware, there is no relevant audit information of which the company's auditors are unaware. Additionally, the Trustees have taken all the necessary steps that they ought to have taken as Trustees in order to make themselves aware of all relevant audit information and to establish that the company's auditors are aware of that information.

Approval

15/8/2023 | 1:14 PM BST The trustees' annual report was approved by the Trustees on …………………………………and signed on their behalf.

…………………………………………………… Mohammed Ahmed Seedat

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Opinion on financial statements

We have audited the financial statements of Amanat Charity Trust for the year ended 30 November 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions 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 twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion 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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.

We have nothing to report in respect of the following matters where the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of the Trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine 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 trustees are 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 basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance 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 extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the trustees (as required by auditing standards) and discussed with the trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the charity is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the loss of the charity's license to operate. We identified the following areas as those most likely to have such an effect: Charities Act, health and safety and employment laws.

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Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: [www.frc.org.uk:/auditorsresponsibilities]. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Cowgill Holloway LLP Chartered Accountants Statutory Auditor Regency House 45 - 53 Chorley New Road Bolton BL1 4QR

15/8/2023 | 3:15 PM BST Date: …………………………………....

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AMANAT CHARITY TRUST

Consolidated Statement of Financial Activities Including Income and Expenditure Account For the year ended 30 November 2022

Notes
Income and endowments from:
Donations and legacies
2
Other trading activites
3
Investment and other income
4
Total income
Raising funds
5
Charitable activities
6
Total expenditure
Net gains on investments
Net income/(expenditure)
Transfers between funds
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
19
Net income/(expenditure) before
investment gains/(losses)
Expenditure on:		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
Funds
2022
2022
2022
2021
£
£
£
£
30,064,173
26,073,567
56,137,740
53,321,948
1,470,770
-
1,470,770
1,139,657
113,949
-
113,949
168,474
31,648,892
26,073,567
57,722,459
54,630,079
(899,077)
-
(899,077)
(687,159)
(3,046,648)
(57,062,656)
(60,109,304)
(50,302,069)
(3,945,725)
(57,062,656)
(61,008,381)
(50,989,228)
27,703,167
(30,989,089)
(3,285,922)
3,640,851
181,584
-
181,584
(250,317)
27,884,751
(30,989,089)
(3,104,338)
3,390,534
(25,490,388)
25,490,388
-
-
2,394,363
(5,498,701)
(3,104,338)
3,390,534
14,631,808
9,419,041
24,050,849
20,660,315
17,026,171
3,920,340
20,946,511
24,050,849

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing operations.

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AMANAT CHARITY TRUST

Consolidated Balance sheet For the year ended 30 November 2022

Group Charity Charity
2022 2021 2022 2021
Notes £ £ £ £
Fixed assets
Intangible assets 12 11,165 8,748 11,165 8,748
Tangible assets 13/14 1,832,449 1,742,083 1,826,973 1,735,640
Investments 15 - - 950,100 950,100
Investment property 16 2,670,724 2,590,655 1,720,724 1,640,655
Total fixed assets 4,514,338 4,341,486 4,508,962 4,335,143
Current assets
Stocks 137,391 108,269 - -
Debtors 17 2,579,932 3,823,786 2,737,282 3,945,799
Cash at bank and in hand 13,951,881 16,281,143 13,913,794 16,225,805
Total current assets 16,669,204 20,213,198 16,651,076 20,171,604
Liabilities
Creditors:amounts falling due
within one year 18 (237,031) (503,835) (202,447) (445,781)
Net current assets 16,432,173 19,709,363 16,448,629 19,725,823
Total assets less total liabilities 20,946,511 24,050,849 20,957,591 24,060,966
Funds of the Charity
Unrestricted funds
- General reserve 14,127,804 11,113,980 14,122,083 11,123,789
- Designated reserve 2,898,367 3,517,828 2,915,168 3,518,136
Total unrestricted funds 19 17,026,171 14,631,808 17,037,251 14,641,925
Restricted funds 19 3,920,340 9,419,041 3,920,340 9,419,041
TOTAL FUNDS 20,946,511 24,050,849 20,957,591 24,060,966

15/8/2023 | 1:14 PM BST

Approved by the trustees on …………………………………………..... and signed on their behalf by:

Mohammed Ahmed Seedat Trustee

Idris Atcha Trustee

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Consolidated Cash flow statement For the year ended 30 November 2022

Net income and resources
Unrestricted
Restricted
Reconciliation to cash generated from operations
Depreciation of Fixed Assets
Amortisation of Intangible Assets
(Profit) / Loss on sale of tangible fixed assets
(Profit)/loss on disposal of Investment Property
Change in fair value of investment properties
Decrease/(increase) in Debtors
Decrease/(increase) in Stocks
(Decrease)/increase in Creditors
Net cash flows from operating activities
Capital expenditure and financial investment
Purchase of tangible fixed assets
Purchase of intangible fixed assets
Proceeds from sale of tangible fixed assets
Proceeds from sale of investment properties
Net increase in Cash
Cash at bank and in hand at 1 December
Cash at bank and in hand at 30 November
Analysis of change in net debt
At 1
December
2021
£
Cash at bank and in hand
16,281,143
Reconciliation of net outflow to net cash flow from operating
activities		 2022
£
2,394,363
(5,498,701)
(3,104,338)
103,067
2,283
18,079
(232,069)
(181,584)
1,243,854
(29,122)
(266,804)
(2,446,634)
(240,873)
(4,700)
29,361
333,584
117,372
(2,329,262)
16,281,143
13,951,881
Cashflow
£
(2,329,262)		 2021
£
(2,147,090)
5,537,624
3,390,534
69,588
1,052
(3,134)
-
250,317
(1,917,071)
(57,566)
328,256
2,061,976
(151,345)
(9,800)
8,875
-
(152,270)
1,909,706
14,371,437
16,281,143
At 30
November
2022
£
13,951,881

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

1. Accounting polices

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a. Basis of preparation

The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Charity meets the definition of a public entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the charity's accounting policies (see accounting policies 1t ).

b. Going concern

The Trustees are not aware of any material uncertainties about the charity’s ability to continue as a going concern. The financial statements have therefore been prepared on the basis that the charity is a going concern.

We have adequate resources and are well placed to manage the business risks. Our planning process, including financial projections, has taken into consideration the current economic climate and its potential impact on the various sources of income and planned expenditure. We have a reasonable expectation that we have adequate resources to continue in operational existence for the foreseeable future. We believe that there are no material uncertainties that call into doubt the charity’s ability to continue.

c. Consolidation and group financial statements

Amanat Charity Trust is a charitable Trust. Its main activities are delivering emergency aid to parts of the world affected by natural or unnatural disasters and setting up various development projects that help empower people in need.

The financial statements consolidate those of Amanat charity Trust and its subsidiaries made up to 30 November 2022 on a line-by-line basis, in accordance with current legislation. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. Intragroup sales and profits are eliminated fully on consolidation.

The Charity has not presented its own net movement in funds and related notes. The Charity’s deficit for the year was £3,103,375 (2021: surplus of £3,386,131).

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

1. Accounting polices (Continued)

d. Fund accounting

Amanat Charity Trust has various types of funds for which it is responsible, and which require separate disclosure.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectivities 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.

Restricted funds are funds which are to be used in accordance with specific restrictions 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. The aim and use of each restricted fund is set out in the notes to the financial statements.

e. Income and endowments

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and there is certainty of receipt.

Donations and legacies: This comprises all incoming resources from donations and gifts collected directly or by volunteers and income from fundraising events during the year. Gift Aid tax recoverable under the Gift Aid Scheme is recognised where there is an entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Where a claim for repayment of income tax has been or will be made, such income is included in the debtors’ amount if still not received by the year end.

Activities for generating funds: This comprises income generated from the trading activities of its subsidiaries and income derived from the charity shops and recycling clothes are recognised as earned (that is, as the goods or services are provided).

Investment income: This comprises income generated by cash on deposits held by the charity. Profit on funds held on deposit is included in the SOFA when receivable and the amount can be measured reliably; this is normally upon notification of the profit paid or payable by the bank.

The value of services provided by volunteers is difficult to put a monetary value on and therefore has not been included in accordance with the Charities SORP (FRS102).

f. Gifts in kind

Gifts in Kind for which the Charity accepts full responsibility for distribution, are included in income at their approximate market value when it is distributed and under expenditure on charitable activities at the same value and time.

g. Expenditure

Liabilities are recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

Costs of raising funds: This comprises costs incurred in attracting voluntary income, costs of fundraising events and campaigns including marketing and their associated support costs and fundraising trading. The fundraising trading cost comprises the group’s trading activities, namely the costs associated with the trading activities of its subsidiaries.

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

Notes to the consolidated financial statements For the year ended 30 November 2022

AMANAT CHARITY TRUST

1. Accounting polices (Continued)

g. Expenditure (Continued)

Charitable activities: Costs associated with the provision of emergency relief, development and longer term rehabilitation programmes as elaborated on in the Trustees’ Report section, ‘Activities, achievements and performance.’ These include both direct charitable expenditure, grants payable and support costs relating to these activities. Grants payable to other organisations for relief projects are included in the SOFA when approved by the trustees and agreed with the other organisation.

Support costs: Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs for a single activity are allocated to the particular activity where the cost relates directly to that activity. However, Support costs that represent the support functions of management, finance, human resources, IT and support departments attributable to the management of the Charity's assets, are allocated in proportion to the type of charitable activity during the period. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.

Governance costs: are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic manaqement of the charity's activities. Governance support costs are allocated on the basis of support activities provided on clearly interpreted governance matters.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h. Operating Leases

Rentals payable under operating leases are charged against income on a straight line basis over the term of the lease

i. Foreign Currency

Transactions in foreign currency are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate prevailing at the year-end. All exchange differences are recognised through the statement of financial activities.

j. Tangible fixed assets and depreciation

Individual items of fixed assets are capitalised where the purchase price exceeds £500. Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Depreciation is calculated to write off the cost of tangible fixed assets, less their residual values, over their expected useful lives. The expected useful lives of the assets to the charity are reassessed periodically in the light of experience. The depreciation rates in use are as follows:

Freehold & Leasehold Property 2% Straight line Leasehold Property Improvements over the shorter of the useful economic Plant and machinery 15% Reducing balance Motor Vehicles 25% Reducing balance Computer equipment 33% Straight line Recycling Banks 20% Straight line

k. Intangible assets

Intangible assets are capitalised at cost and amortised over their estimated useful economic life.

Internally developed software up to 5 years

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

1. Accounting polices (Continued)

l. Investment property

Investment property is property held for rental, capital growth or both, excluding those occupied by the Group or the Parent charity. Investment property comprises freehold land. No depreciation is provided in respect of investment properties.

Initial measurement is at cost inclusive of transaction cost. It is subsequently carried at fair value in the balance sheet or at the trustees' best estimate of market value. Fair value best represents a true and fair view of the value of these assets to the charity and can be determined by independent professional valuers based on current prices in an active market for similar properties in the same location and condition.

Any gain or loss arising from a change in fair value is recognised in the statement of financial activities based on the market value at the year end. Acquisitions are recognised on unconditional exchange of control. Investment properties are derecognised on disposal.

m. Investments

Fixed asset investments are stated at cost less provision for diminution in value

Realised gains and losses on investments are calculated as the difference between sale proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of financial activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end.

n. Stocks

Stock is valued at the lower of cost and net realisable value.

o. Debtors

Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid, net of any trade discounts due.

p. 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 months or less from the date of acquisition or opening of the deposit or similar account.

q. 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.

r. Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

s. Pension costs

The charity operates a group personal pension scheme, which effectively means that all employees who join the scheme have their own pension plan.

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

t. Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. The items where these judgments and estimates have been made include:

Donated goods

Donated goods for sale in the shops and recycling are measured at fair value when sold. Estimating the fair value of donated goods for resale is considered impractical because of the volume of low value items received, the absence of detailed stock control systems and market factors.

2. Donations and legacies

Donations and gifts from Individuals
Gift aid tax reclaimed
Donated goods and services		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
Funds
2022
2022
2022
2021
£
£
£
£
24,988,751
25,279,235
50,267,986
47,694,133
5,075,422
-
5,075,422
4,915,413
-
794,332
794,332
712,402
30,064,173
26,073,567
56,137,740
53,321,948

3. Income from other trading activities

Sale of purchased goods
Sale of donated goods - Charity shops
Income from Recycling Clothes
Rental Income		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
Funds
2022
2022
2022
2021
£
£
£
£
302,193
-
302,193
146,787
248,216
-
248,216
193,061
888,861
-
888,861
765,759
31,500
-
31,500
34,050
1,470,770
-
1,470,770
1,139,657

4. Investment and other income

Bank deposit profit & other
Other Income
Expenditure on raising funds
Fundraising cost of donations
Support costs (note 8)
Fundraising trading: cost of goods sold		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
Funds
2022
2022
2022
2021
£
£
£
£
113,327
-
113,327
22,927
622
-
622
145,547
113,949
-
113,949
168,474
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
Funds
2022
2022
2022
2021
£
£
£
£
594,882
-
594,882
499,591
30,754
-
30,754
26,851
273,441
-
273,441
160,717
899,077
-
899,077
687,159

5. Expenditure on raising funds

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

6. Expenditure on charitable activities

Education
Family Welfare
Food Security and Livelihood
Food/Non Food items (NFI)
Distribution
Health Care
Shelter
Water, Sanitation and Hygiene
(WASH)
Support costs (note 8)
Governance cost (note 9)		 Activities
Grants
Undertaken
Unrestricted
Payable
Directly
Funds
TOTAL
TOTAL
2022
2022
2022
2022
2021
£
£
£
£
£
3,326,919
3,290,068
-
6,616,987
4,829,944
13,366,540
1,852,195
-
15,218,735
21,344,478
1,240,734
180,815
-
1,421,549
1,223,168
9,829,895
16,990,398
-
26,820,293
12,154,870
675,036
164,910
-
839,946
1,164,013
966,569
3,339,457
-
4,306,026
3,721,214
940,475
898,645
-
1,839,120
3,237,914
-
-
2,949,972
2,949,972
2,562,362
-
-
96,676
96,676
64,106
30,346,168
26,716,488
3,046,648
60,109,304
50,302,069

During the year the charity made donations of £7,685,112 (2021: £3,622,455) to Ummah Welfare Trust (PAK), this is a registered charity in Pakistan where one of the UK trustees is also a trustee. The donations made were for various projects within the charities aims and objectives, but primarily related to the orphan sponsorship project and the development of an orphanage in Pakistan.

7. Grants payable analysed by region

2022 2021 2022 2021
£ £ % %
Africa 2,552,964 8,031,829 8% 28%
Asia 9,023,593 2,774,426 30% 10%
Near East and Europe 18,715,981 17,083,282 62% 61%
Rest of the World 53,630 333,418 0% 1%
30,346,168 28,222,955 100% 100%

The Charity makes grants to a number of differing partner charities and individuals around the world after due consideration and careful assessment of the particular partner charity and /or individual. The partner charities are used as an extension of UWT to help further the objectives of the charity and carry out specific charitable programmes under the direction of UWT. All partner charities are subject to regular monitoring and reporting. Due to the inherent risks associated with working in some parts of the world, the names of the partner charities have not been disclosed.

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

8.
Allocation of Support Cost
Advertising, marketing & publications
Wages and salaries
Direct costs
Premises costs
Office costs		 Activities
Grants
Undertaken
Raising
Payable
Directly
Funds
TOTAL
TOTAL
2022
2022
2022
2022
2021
£
£
£
£
£
90,892
80,020
1,782
172,694
122,766
850,666
748,919
16,676
1,616,261
1,243,153
394,982
347,738
7,743
750,463
807,262
164,894
145,171
3,232
313,297
281,764
67,374
59,316
1,321
128,011
134,268
1,568,808
1,381,164
30,754
2,980,726
2,589,213

Support cost are allocated in proportion to the type of charitable expenditure.

9.
Governance cost
Trustees expenses
Audit and accountancy fees
Legal & professional		 Activities
Grants
Undertaken
Raising
Payable
Directly
Funds
TOTAL
TOTAL
2022
2022
2022
2022
2021
£
£
£
£
£
4,648
4,092
91
8,831
2,952
7,203
6,341
141
13,685
13,400
39,032
34,363
765
74,160
47,754
50,883
44,796
997
96,676
64,106

10. Employees and staff costs

Employees and staff costs
Wages and salaries
Social security costs
Pension cost
The average monthly number of employees were:
Full time
Part time		 2022
2021
2022
2021
£
£
£
£
1,609,936
1,306,740
1,554,554
1,276,437
105,030
87,224
102,946
86,549
14,578
11,899
13,571
11,585
Group
Charity
1,729,544
1,405,863
1,671,071
1,374,571
2022
2021
2022
2021
Number
Number
Number
Number
42
37
42
37
51
47
46
44
Group
Charity

Group and Charity

There were no employees who received remuneration of more than £60,000 in the year.

11. Trustees' remuneration

The trustees neither received nor waived any emoluments during the year (2021- £nil).

Amounts reimbursed to trustees for out of pocket expenses. 2022 2021
£ £
Travel 8,832 2,952

Trustees' Report and Financial Statements

21

DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

12. Intangible fixed assets

GROUP & CHARITY
Cost
At beginning of year
Additions
At end of year
Depreciation
At beginning of year
Charge
At end of year
Net book value
At end of year
At end of year
Tangible fixed assets
Group
Cost
At beginning of year
Additions
Disposals
Transfer
At end of year
Depreciation
At beginning of year
Charge
Disposals
Transfer
At end of year
Net book value
At end of year
At end of year
Tangible fixed assets
Charity
Cost
At beginning of year
Additions
Disposals
Transfer
At end of year
Depreciation
At beginning of year
Charge
Disposals
Transfer
At end of year
Net book value
At end of year
At end of year		 Freehold,
Leasehold
Property &
Leasehold
Property Imps
£
1,904,555
3,213
(39,647)
(9,560)
1,858,561
256,157
37,269
(7,042)
(730)
285,654
1,572,907
1,648,398
Freehold,
Leasehold
Property &
Leasehold
Property Imps
£
1,904,555
3,213
(39,647)
(9,560)
1,858,561
256,157
37,269
(7,042)
(730)
285,654
1,572,907
1,648,398		 LWA APP
9,800
4,700
14,500
1,052
2,283
3,335
11,165
8,748
Plant,
machinery &
Recycling
Banks
£
199,405
20,261
-
9,560
229,226
172,590
11,300
-
730
184,620
44,606
26,815
Plant,
machinery &
Recycling
Banks
£
137,807
20,261
-
9,560
167,628
117,435
10,333
-
730
128,498
39,130
20,372		 Software
Development
£
84,069
-
84,069
84,069
-
84,069
-
-
Computer
Equipment
£
109,633
1,624
-
-
111,257
94,767
7,502
-
-
102,269
8,988
14,866
Computer
Equipment
£
109,633
1,624
-
-
111,257
94,767
7,502
-
-
102,269
8,988
14,866		 Goodwill
£
11,000
-
11,000
11,000
-
11,000
-
-
Motor Vehicles
£
162,329
215,775
(43,544)
-
334,560
110,325
46,996
(28,709)
-
128,612
205,948
52,004
Motor Vehicles
£
162,329
215,775
(43,544)
-
334,560
110,325
46,996
(28,709)
-
128,612
205,948
52,004		 Total
£
104,869
4,700
109,569
96,121
2,283
98,404
11,165
8,748
Total
£
2,375,922
240,873
(83,191)
-
2,533,604
633,839
103,067
(35,751)
-
701,155
1,832,449
1,742,083
Total
£
2,314,324
240,873
(83,191)
-
2,472,006
578,684
102,100
(35,751)
-
645,033
1,826,973
1,735,640

13. Tangible fixed assets

14. Tangible fixed assets

Trustees' Report and Financial Statements

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DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

15. INVESTMENTS

At beginning of year
Additions
Disposals
At end of year		 2022
£
950,100
-
-
950,100		 2021
£
950,100
-
-
950,100

Purewood Limited was dissolved on 25th September 2018 and the assets of the company were transferred to Amanat Waqf Limited.

Company
The Ummah Shop Limited
Amanat Waqf Limited
16. INVESTMENT PROPERTY
At beginning of year
Additions
Disposals
Exchange adjustments
At end of year
Net gains or losses from fair value
adjustments		 Country of
incorporation
UK
UK
2022
2021
£
£
2,590,655
2,840,972
-
-
(101,515)
-
156,208
165,651
25,376
(415,968)
2,670,724
2,590,655
Group
Principle
Activities
Retail
Real Estate		 Class
%
Ordinary
100%
Ordinary
100%
2022
2021
£
£
1,640,655
1,890,972
-
-
(101,515)
-
156,208
165,651
25,376
(415,968)
1,720,724
1,640,655
Shares held
Charity		 Class
%
Ordinary
100%
Ordinary
100%
2022
2021
£
£
1,640,655
1,890,972
-
-
(101,515)
-
156,208
165,651
25,376
(415,968)
1,720,724
1,640,655
Shares held
Charity
1,640,655

The fair value of investment properties was determined by external, independent professionally qualified valuers who hold a recognised relevant professional qualification and have recent experience in the locations and segments of the investment properties valued. During the year the investment property was revalued and the trustee's have reviewed the valuation at the year end and believe that the market value of the investment properties is not materially different to the carrying value.

17. DEBTORS:
Trade debtors
Taxation
Prepayments and accrued income
Amounts due from subsidiaries
Other debtors		 2022
2021
£
£
116,891
34,354
848,724
2,457,603
32,131
21,532
-
-
1,582,186
1,310,297
2,579,932
3,823,786
Group		 2022
2021
£
£
116,891
34,354
848,724
2,457,603
30,449
19,571
169,092
133,034
1,572,126
1,301,237
2,737,282
3,945,799
Charity		 2022
2021
£
£
116,891
34,354
848,724
2,457,603
30,449
19,571
169,092
133,034
1,572,126
1,301,237
2,737,282
3,945,799
Charity
3,945,799

Included in Other debtors is an amount of £320,940 (2021: £606,100) which is due after more than one year.

18. CREDITORS: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other taxation & social security cost
Other creditors		 2022
2021
£
£
28,087
42,037
153,370
98,080
36,087
20,197
19,487
343,521
237,031
503,835
Group		 2022
2021
£
£
-
-
152,109
82,147
30,851
20,197
19,487
343,437
202,447
445,781
Charity		 2022
2021
£
£
-
-
152,109
82,147
30,851
20,197
19,487
343,437
202,447
445,781
Charity
445,781

Trustees' Report and Financial Statements

23

DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

**19. ** STATEMENT OF FUNDS
Unrestricted funds
General reserve
Designated reserves -Most
Needed
Total unrestricted funds
Restricted funds
Development
Humanitarian
Total restricted funds
TOTAL FUNDS		 At 1 Dec
2021
Income
Transfers
Expenditure
At 30 Nov
2022
£
£
£
£
£
11,113,980
7,442,101
(280,144)
(4,148,133)
14,127,804
3,517,828
24,599,561
(25,210,244)
(8,778)
2,898,367
14,631,808
32,041,662
(25,490,388)
(4,156,911)
17,026,171
3,150,683
4,721,874
8,508,018
(14,414,037)
1,966,538
6,268,358
21,351,693
16,982,370
(42,648,619)
1,953,802
9,419,041
26,073,567
25,490,388
(57,062,656)
3,920,340
24,050,849
58,115,229
-
(61,219,567)
20,946,511

All restricted funds are for specific humanitarian projects in the particular areas of the world. The parent charity holds certain restricted funds raised through appeals for emergency relief provision.

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS GROUP

Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
General Fund
Unrestricted
Designated
Fund
Restricted
Fund
TOTAL FUND
2021
£
£
£
£
£
3,564,338
950,000
-
4,514,338
4,341,486
10,800,497
1,948,367
3,920,340
16,669,204
20,213,198
(237,031)
-
-
(237,031)
(503,835)
14,127,804
2,898,367
3,920,340
20,946,511
24,050,849

Trustees' Report and Financial Statements

24

DocuSign Envelope ID: 811CB98B-0B5E-4CBA-96B3-B947FC4AE72D

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2022

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS CHARITY

Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
General Fund
Unrestricted
Designated
Fund
Restricted
Fund
TOTAL FUND
2021
£
£
£
£
£
3,558,962
950,000
-
4,508,962
4,335,143
10,765,568
1,965,168
3,920,340
16,651,076
20,171,604
(202,447)
-
-
(202,447)
(445,781)
14,122,083
2,915,168
3,920,340
20,957,591
24,060,966

22. FINANCIAL COMMITMENTS GROUP

The following obligations relating to operating lease commitments existed at the year end:

Expires in:
Less than 1yr
2-5 yrs.
More than 5yrs		 2022
2021
2022
2021
£
£
£
£
154,642
151,000
8,798
7,032
170,525
138,725
1,733
7,449
5,958
-
-
-
Other
Land and buildings
331,125
289,725
10,531
14,481

23. FINANCIAL COMMITMENTS

CHARITY

The following obligations relating to operating lease commitments existed at the year end:

Expires in:
Less than 1yr
2-5 yrs.
More than 5yrs		 2022
2021
2022
2021
£
£
£
£
154,642
151,000
8,798
7,032
170,525
138,725
1,733
7,449
5,958
-
-
-
Land and buildings
Other
331,125
289,725
10,531
14,481

24. AUDITORS REMUNERATION

Statutory audit fees totalled £13,500 (2021: £13,500) during the year.

25. RELATED PARTY TRANSACTIONS

One of the Trusstees of Amanat Charity Trust was also a Trustee of Ummah Welfare Trust (PAK). The donations made to this related party is disclosed in note 6. The amount due from Ummah Welfare Trust (PAK) as at 30 November 2022 is £333,583. The Trustees expenses are disclosed in note 11.

Trustees' Report and Financial Statements

25

Docusign Envelope ID". 811CB98B-OB5E-4CBA-96B3-B947FC4AE72D ummah welfare trust IOOY. DONATIONS POLICY Charfrfy N(k IOWB51 HEAD DFRCE 578-EOO St Helens Road Bolton, Greater Manchester, BL3 3SJ Tel.. 01204 661030 uwt.org