2024-11-30-accounts - Amanat Charity Trust

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FOR THE YEAR ENDED 30[TH] NOVEMBER 2024

KASHMIR | INDIA | SIERRA LEONE | BANGLADESH | ALBANIA

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AMANAT CHARITY TRUST

Report of the Trustees’ For the year ended 30 November 2024

CONTENTS	Page(s)
Report of the Trustees’	1 – 10
Independent auditor’s report to the trustees of Amanat Charity Trust	11 – 13
Statement of financial activities	14
Balance sheet	15
Cash flow statement	16
Notes to the financial statements	17 – 28

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AMANAT CHARITY TRUST

Report of the Trustees’ For the year ended 30 November 2024

1. Introduction

The trustees present their report along with the consolidated financial statements of the charity and its subsidiaries for the year ended 30 November 2024. 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. Amanat Charity Trust is also registered with the Scottish Charity Regulator with the registration number SC043084.

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:

Providing emergency relief, such as food and medical aid, to victims of conflict and natural disasters.
Providing clean potable water by constructing tube wells and hand pumps and trucking water to needy areas.
Constructing homes, orphanages and schools.
Establishing medical and rehabilitation clinics, especially for the treatment of women and children.
Implementing income generation projects to help beneficiaries break their dependence on hand-outs.

The trustees always ensure that the programmes we undertake are in line with our charitable objects and aims. The trustees’ approach when developing the strategic or operational plans is to make certain that it delivers the maximum public benefit and achieve our strategic objectives, which fall under purposes defined by the Charities Act 2011. The trustees have carefully considered the Charity Commission’s general guidance on public benefit in setting the charity’s objectives and plans for activities.

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 continues to adhere to all relevant statutory regulations including the Data Protection Act 2018 and the Charities Act 2011 and 2022. The charity is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. Trustees regularly monitors the performance of the fundraising teams.

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AMANAT CHARITY TRUST

Report of the Trustees’ For the year ended 30 November 2024

Protecting vulnerable persons - The charity abides by the Fundraising Regulator’s Code of Fundraising Practice and ensures its staff and volunteers are trained to respect and protect the vulnerable people at all times. The charity delivers its charitable aims in two ways:

Through direct delivery in areas where we have our own staff; and
Through grant making, chiefly using our partner organisations.

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.

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, £26.1 million out of £58.2 million of our programmes expenditure 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, natural disasters 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 and live with dignity.

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

Incidence of natural disasters and conflicts;
Data on relative levels of poverty for countries where we work;
Honouring our existing commitments to prevent or relieve poverty and suffering;
Information from partners about areas of deprivation and need;
Availability of local partners with their willingness and capabilities to work with us; and
The degree of stability, safety and security in the area of operation.

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 local 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 4.5 million poor and disadvantaged beneficiaries in 25 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.

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AMANAT CHARITY TRUST

Report of the Trustees’ For the year ended 30 November 2024

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 2024, which is a part of the trustees’ strategy to reduce the levels of reserves, the charity carries. However, over the next three to five years the intention is to continue to ensure that increases in charitable expenditure are greater and at the same time the charity has adequate resources to cover the following year’s administration cost and ongoing development programmes which are dependent upon one to one donation’s.

This year the charity once again received high level of donations. The trustees are committed to spend these donations at the earliest opportunity available to them. For these donations and generally, where, it would be difficult for the charity to expend these donations due to restricted access and safety issues, the charity endeavours to invest funds with the objective that these investments, whether through the bank or other investment companies, yield maximum return for the charity. The objective is to help even more beneficiaries from the investment returns. The trustees also ensure that accessibility to the funds invested do not have adverse impact on the programmes’ operational viability and of the charity overall. The trustees ensure that there are adequate due diligence checks carried out to safeguard these investments as well as to ensure that as per the charity’s investment policy, the ethical approach remains at the centre of investment decisions.

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 £59.1m, compared to £59.8m 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:

Family Welfare
Food/Non-Food items Distribution (NFI)
Shelter
Health Care
Education
Water, Sanitation and Hygiene (WASH)
Food Security and Livelihood

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.

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AMANAT CHARITY TRUST

Report of the Trustees’ For the year ended 30 November 2024

7. Financial review

As previous years, the charity has continued to see increase in its turnover. This demonstrates continued high level of trust shown in the charity by our donors and communities. Furthermore, the charity’s approach and commitment to a transparent approach on everything it does and its unique 100% donations policy are other contributory factors in achieving the higher turnover in 2024. With the trustees’ commitment to ensuring prudent approach to all aspects of the charity’s income and expenditure, the charity has been able to once again show a strong financial position which would ensure its viability for years to come.

During the year the charity raised £68,599,617 (2023: £60,259,279) in direct donations from the general public to carry out the programmes mentioned above. During the year £58,205,372 (2023: £58,788,780) 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, £26,147,717 (2023: £33,609,560) was spent with these partner organisations (note 7 provides further analysis).

As shown on page 14, £54,665,012 (2023: £55,220,045) from the restricted funds was expensed for specific projects and £4,447,565 (2023: £4,550,799) 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 4.5 million beneficiaries in the financial year to 2024, 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 24,298 orphans (2023: 18,692) being cared for by the charity at present. The charity will continue to develop support programmes for orphans and widows 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 3,989 wells and hand pumps built during the year (2023: 4,853). The charity has historically implemented successful income generation projects to create selfsufficiency and reduce the cycle of poverty, and during the year nearly 26,352 (2023: 22,575) 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 618,919 (509,832 in 2023) 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 decrease in the relative expenditure on administration costs. This was due to increase efficiency in the 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 2024 the charity spent £4,175,167 (2023: £4,241,601) on such expenses. The

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Report of the Trustees’ For the year ended 30 November 2024

administration expenditure represents only 5.3% (2023: 6.1%) of the revenues generated by the charity which relatively remains very low again. 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 2024, 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 2024 the charity spent over £58.2m 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 to hold free reserves to ensure it can provide continuity to the beneficiaries against unforeseen programmes expenditure in particular in volatile areas where the charity may operate. In addition, to ensure availability of working capital to manage its regular programmes the charity operates and its administration expenditure for the following year. The trustees are also diligent about investing the free reserves and would only do so where it can determine maximum benefit for its beneficiaries, and transfer any excess funds to where it is most needed in term of supporting the beneficiaries.

Consequently, the trustees’ plan whereby the year on year charitable expenditure will increase, resulting in deficits for the charity, and will reduce the reserves the charity currently holds to the targeted reserves as set by the trustees.

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 programmes, 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

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Report of the Trustees’ For the year ended 30 November 2024

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:

Operational performance, including risks to our personnel and volunteers;
Financial sustainability, including stability and security of funds;
Achievement of our aims and objectives; or
Meeting the expectations of our beneficiaries and/or supporters

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:

Regular monitoring of major risks and development of action plans;
Embedding risk identification and assessment within operating procedures;
A clear structure of delegated authority and control;
Review of key systems and procedures through internal arrangements;
Income and profit targets for our trading and fundraising activities;
Maintaining reserves in line with set policies; and
Regular summary reports on risk management to the Trustees Board.

In keeping with good governance and alignment with the charity’s own values and with the needs and expectations of the beneficiaries, and the context in which we work, the charity has checks in place to ensure that its work directly or through partners is conducted properly. The trustees, staff and partners are screened using the LSEG (London Stock Exchange Group, previously known as World Check) often used by banks and other regulatory bodies and Data Barring Services (DBS) to ensure the charity does not work with anyone with links to proscribed entities or individuals on global watch lists.

Safeguarding continues to be a high priority for the charity and trustees review the policy and procedures annually and this is supported by training for all programmes related staff and trustees. The charity will work with its partners to ensure that they comply with the Charity’s commitment to safeguarding.

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 staff 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 invest in the Compliance Department who continued to apply our robust due diligence policy and use of tools like LSEG, Nexis and OFAC to assess against suitability of its personnel and partners. The compliance team is headed by a senior and competent manager to oversee the implementation of enhanced due diligence.

The charity’s 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 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.

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Report of the Trustees’ For the year ended 30 November 2024

The charity has a programme to carry 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 charity conducts regular training of the relevant staff. We prioritise data protection and privacy and have stringent data management practices, confidentiality agreements, and appropriate safeguards to protect personal and sensitive information.

With increasing number of operational activities of the charity taking place on line, Trustees continued to take cybersecurity and data protection very seriously. During the year, there was no breach of Data Protection Policy and nothing was raised as cause for concern by the Information Commissioner UK. Although the charity has strong security measures in place already, the charity has continued to heavily invest in its IT infrastructure and security to ensure high risk from any cyber-attacks or other risks are mitigated effectively by having robust defences and effective counter measures. This investment is supported by comprehensive training programme for the staff to ensure effective implementation of the new measures. The charity reviews its IT and security risks regularly.

Trustees also recognise the threat of fraud and corruption present in challenging situations particularly when operating in emergency situations. Therefore, the charity has robust approach to dealing with fraud and corruption and policy on these has been reviewed by Trustees and has been strengthened to ensure the impact is minimised. Consequently, the charity has increased its expenditure on field visits so that comprehensive check can take place and appropriate measure are in place to mitigate the risk of fraud and corruption.

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 19th October 1990 (as amended on 10th April 2012) and operates 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 follows:

“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 and the registration number SC043084 with the Scottish Charity Regulator.

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 business expenses are not remunerated for their trusteeship. 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

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Report of the Trustees’ For the year ended 30 November 2024

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 Team

The trustees are supported by a team of executives representing a range of skills and experience in strategic, regulatory compliance, financial, programmes and day-to-day operational matters to ensure the smooth running of the charity.

13.4 Advisers

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

Auditor: Sumer Auditco Limited, Fourth Floor, Unit 5B, The Parklands Lostock, Bolton, BL6 4SD. . 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 13.5 Principle office 578-600 ST Helens Road Bolton BL3 3SJ

The charity has its headquarters in Bolton and has offices in London, Birmingham, Bradford, 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.

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:

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Report of the Trustees’ For the year ended 30 November 2024

select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

27/8/2025 | 3:18 PM BST The trustees' annual report was approved by the Trustees on …………………………………and signed on their behalf.

………………………………… Mohammed Ahmed Seedat

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Independent auditor’s report to the trustees of Amanat Charity Trust

Opinion on financial statements

We have audited the financial statements of Amanat Charity Trust for the year ended 30 November 2024 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:

give a true and fair view of the state of the group’s and the charity's affairs as at 30 November 2024, and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

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.

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Independent auditor’s report to the trustees of Amanat Charity Trust

We have nothing to report in this regard.

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:

sufficient accounting records have not been kept;
the financial statements are not in agreement with the accounting records and returns; or
we have not obtained all the information and explanations necessary for the purpose of our audit.

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.

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Independent auditor’s report to the trustees of Amanat Charity Trust

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:

Matters are discussed amongst the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud
Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud
Detecting and responding to the risks of fraud following discussions with management and enquiring as to whether management have knowledge of any actual, suspected or alleged 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.

Sumer Auditco Limited Statutory Auditor Fourth Floor, Unit 5B The Parklands Lostock Bolton BL6 4SD

27/8/2025 | 3:49 PM BST

Date: …………………………………....

Sumer Auditco Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Consolidated Statement of Financial Activities Including Income and Expenditure Account For the year ended 30 November 2024

		Unrestricted	Restricted	TOTAL	TOTAL
		Funds	Funds	Funds	Funds
	Notes	2024	2024	2024	2023
		£	£	£	£
*Income and endowments from:*
Donations and legacies	2	34,812,437	41,441,389	76,253,826	67,543,550
Other trading activites	3	945,524	-	945,524	1,515,990
Investment and other income	4	1,233,796	-	1,233,796	371,212
Total income		36,991,757	41,441,389	78,433,146	69,430,752
*Expenditure on:*
Raising funds	5	(907,205)	-	(907,205)	(982,064)
Charitable activities	6	(3,540,360)	(54,665,012)	(58,205,372)	(58,788,780)
Total expenditure		(4,447,565)	(54,665,012)	(59,112,577)	(59,770,844)
Net income/(expenditure) before
investment gains/(losses)		32,544,192	(13,223,623)	19,320,569	9,659,908
Net gains on investments		331,223	-	331,223	938,195
Net income/(expenditure)		32,875,415	(13,223,623)	19,651,792	10,598,103
Transfers between funds	19	(35,463,368)	35,463,368	-	-
Net movement in funds		(2,587,953)	22,239,745	19,651,792	10,598,103
Reconciliation of funds:
Total funds brought forward		21,994,597	9,550,017	31,544,614	20,946,511
Total funds carried forward	19	19,406,644	31,789,762	51,196,406	31,544,614

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

All incoming resources and resources expended derive from continuing operations.

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Consolidated Balance sheet For the year ended 30 November 2024

		Group		Charity
		2024	2023	2024	2023
	Notes	£	£	£	£
Fixed assets
Intangible assets	12	138,672	9,292	138,672	9,292
Tangible assets	13/14	974,267	1,048,788	970,311	1,044,134
Investments	15	5,236,489	4,855,266	6,186,589	4,855,366
Total fixed assets		6,349,428	5,913,346	7,295,572	5,908,792
Current assets
Stocks		154,729	149,538	-	-
Debtors	17	9,232,344	2,594,769	9,436,841	2,786,581
Short-term cash deposits		15,000,000	5,000,000	15,000,000	5,000,000
Cash at bank and in hand		20,737,678	18,122,530	19,722,154	18,080,709
Total current assets		45,124,751	25,866,837	44,158,995	25,867,290
Liabilities
Creditors:amounts falling due
within one year	18	(277,773)	(235,569)	(259,926)	(217,222)
Net current assets		44,846,978	25,631,268	43,899,069	25,650,068

Total assets less total liabilities		51,196,406	31,544,614	51,194,641	31,558,860
Funds of the Charity
Unrestricted funds
- General reserve		16,131,705	17,045,010	16,070,462	17,002,518
- Designated reserve		3,274,939	4,949,587	3,334,417	5,006,325
Total unrestricted funds	19	19,406,644	21,994,597	19,404,879	22,008,843
Restricted funds	19	31,789,762	9,550,017	31,789,762	9,550,017
TOTAL FUNDS		51,196,406	31,544,614	51,194,641	31,558,860

27/8/2025 | 3:18 PM BST

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

Mohammed Ahmed Seedat Trustee

Idris Atcha Trustee

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Consolidated Cash flow statement

For the year ended 30 November 2024

	2024	2023
	£	£
Reconciliation of net outflow to net cash flow from operating
activities
Net income and resources
Unrestricted	(2,587,953)	4,968,426
Restricted	22,239,745	5,629,677
	19,651,792	10,598,103
Reconciliation to cash generated from operations
Depreciation of Fixed Assets	70,902	87,583
Amortisation of Intangible Assets	3,120	2,973
(Profit) / Loss on sale of tangible fixed assets	4,201	1,358
(Profit)/loss on disposal of Investment Property	(33,941)	-
Change in fair value of investment properties	(331,223)	(938,195)
Decrease/(increase) in Debtors	(6,637,575)	(14,837)
Decrease/(increase) in Stocks	(5,191)	(12,147)
(Decrease)/increase in Creditors	42,204	(1,462)
Net cash flows from operating activities	12,764,289	9,723,376
Capital expenditure and financial investment
Purchase of tangible fixed assets	(26,743)	(25,794)
Purchase of intangible fixed assets	(132,500)	(1,100)
Purchase of Investment	(1,000,000)	-
Proceeds from sale of tangible fixed assets	26,161	14,167
Proceeds from sale of investment properties	983,941	-
Purchase and donation of Investment property	-	(540,000)
	(149,141)	(552,727)

Change in cash and cash equivalents in the year	12,615,148	9,170,649
Analysis of cash and cash equivalents
Cash at bank and in hand	20,737,678	18,122,530
Short-term cash deposits	15,000,000	5,000,000
	35,737,678	23,122,530
Cash and cash equivalents at the start of the year	23,122,530	13,951,881
Cash flows	12,615,148	9,170,649
Cash and cash equivalents at the end of the year	35,737,678	23,122,530

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

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 2019) – (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 2024 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 surplus for the year was £19,635,781 (2023: £10,601,269)

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

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.

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

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

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

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.

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

1. Accounting polices (Continued)

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 legacies
	Unrestricted	Restricted	TOTAL	TOTAL
	Funds	Funds	Funds	Funds
	2024	2024	2024	2023
	£	£	£	£
Donations and gifts from Individuals	28,878,432	39,721,185	68,599,617	60,259,279
Gift aid tax reclaimed	5,934,005	-	5,934,005	6,032,051
Donated goods and services	-	1,720,204	1,720,204	1,252,220
	34,812,437	41,441,389	76,253,826	67,543,550

3. Income from other trading activities

Income from other trading activities
	Unrestricted	Restricted	Restricted	TOTAL	TOTAL
	Funds	Funds		Funds	Funds
	2024	2024		2024	2023
	£	£		£	£
Sale of purchased goods	352,525		-	352,525	340,652
Sale of donated goods - Charity shops	259,371		-	259,371	254,661
Income from Recycling Clothes	316,849		-	316,849	905,404
Rental Income	16,779		-	16,779	15,273
	945,524		-	945,524	1,515,990

4. Investment and other income

Investment and other income
	Unrestricted	Restricted	Restricted	TOTAL	TOTAL
	Funds	Funds		Funds	Funds
	2024	2024		2024	2023
	£	£		£	£
Bank deposit profit & other	1,230,354		-	1,230,354	369,170
Other Income	3,442		-	3,442	2,042
	1,233,796		-	1,233,796	371,212

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

5. Expenditure on raising funds

Expenditure on raising funds
	Unrestricted	Restricted	Restricted	TOTAL	TOTAL
	Funds	Funds		Funds	Funds
	2024	2024		2024	2023
	£	£		£	£
Fundraising cost of donations	597,511		-	597,511	633,645
Support costs (note 8)	37,296		-	37,296	39,221
Fundraising trading: cost of goods sold	272,398		-	272,398	309,198
	907,205		-	907,205	982,064

6. Expenditure on charitable activities

		Activities
	Grants	Undertaken	Unrestricted
	Payable	Directly	Funds	TOTAL	TOTAL
	2024	2024	2024	2024	2023
	£	£	£	£	£
Education	6,012,961	2,803,975	-	8,816,936	5,793,215
Family Welfare	7,915,726	3,666,967	-	11,582,693	14,613,067
Food Security and Livelihood	64,154	774,095	-	838,249	787,957
Food/Non Food items (NFI)	9,822,653	18,859,383	-	28,682,036	29,465,146
Distribution
Health Care	223,184	814,955	-	1,038,139	725,475
Shelter	714,033	807,800	-	1,521,833	2,128,831
Water, Sanitation and Hygiene	1,395,006	790,120	-	2,185,126	1,706,354
(WASH)
Support costs (note 8)	-	-	3,429,579	3,429,579	3,426,279
Governance cost (note 9)	-	-	110,781	110,781	142,456
	26,147,717	28,517,295	3,540,360	58,205,372	58,788,780

During the year the charity made donations of £4,079,879 (2023: £4,542,242) 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

	2024	2023	2024	2023
	£	£	%	%
Africa	2,958,641	3,923,427	11%	12%
Asia	6,976,520	10,863,358	27%	32%
Near East and Europe	16,202,121	18,822,775	62%	56%
Rest of the World	10,435	-	0%	0%
	26,147,717	33,609,560	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.

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

8.	Allocation of Support Cost		Activities
		Grants	Undertaken	Raising
		Payable	Directly	Funds	TOTAL	TOTAL
		2024	2024	2024	2024	2023
		£	£	£	£	£
	Advertising, marketing & publications	72,153	78,692	1,640	152,485	167,214
	Wages and salaries	930,526	1,014,852	21,156	1,966,534	1,843,436
	Direct costs	438,718	478,483	9,975	927,176	960,115
	Premises costs	128,399	140,035	2,919	271,353	270,338
	Office costs	70,659	77,062	1,606	149,327	224,397
		1,640,455	1,789,124	37,296	3,466,875	3,465,500
	Support cost are allocated in proportion to the type of charitable expenditure.		Support cost are allocated in proportion to the type of charitable expenditure.
9.	Governance cost		Activities
		Grants	Undertaken	Raising
		Payable	Directly	Funds	TOTAL	TOTAL
		2024	2024	2024	2024	2023
		£	£	£	£	£
	Trustees expenses	3,392	3,699	77	7,168	3,419
	Audit and accountancy fees	10,310	11,244	234	21,788	19,900
	Legal & professional	38,718	42,227	880	81,825	119,137
		52,420	57,170	1,191	110,781	142,456

10. Employees and staff costs

Employees and staff costs
	Group		Charity
	2024	2023	2024	2023
	£	£	£	£
Wages and salaries	2,063,918	1,915,383	1,989,608	1,853,409
Social security costs	152,291	141,014	148,256	138,973
Pension cost	19,001	17,325	18,073	16,672
	2,235,210	2,073,722	2,155,937	2,009,054
The average monthly number of employees were:	Group		Charity
	2024	2023	2024	2023
	Number	Number	Number	Number
Full time	51	49	51	49
Part time	65	60	58	55

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 (2023 - £nil).

Amounts reimbursed to trustees for out of pocket expenses.	2024	2023
	£	£
Travel	7,168	3,418

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

12. Intangible fixed assets

Intangible fixed assets
			Software
GROUP & CHARITY		LWA APP	Development	Goodwill	Total
			£	£	£
Cost
At beginning of year		15,600	84,069	11,000	110,669
Additions		-	132,500	-	132,500
At end of year		15,600	216,569	11,000	243,169
Depreciation
At beginning of year		6,308	84,069	11,000	101,377
Charge		3,120	-	-	3,120
At end of year		9,428	84,069	11,000	104,497
Net book value
At end of year		6,172	132,500	-	138,672
At end of year		9,292	-	-	9,292
Tangible fixed assets
	Freehold,
	Leasehold	Plant,
	Property &	machinery &
	Leasehold	Recycling	Computer	Motor
Group	Property	Banks	Equipment	Vehicles	Total
	£	£	£	£	£
Cost
At beginning of year	1,099,806	232,913	126,091	271,264	1,730,074
Additions	12,000	13,682	1,061	-	26,743
Disposals	-	-	-	(48,580)	(48,580)
Transfer	-	-	-	-	-
At end of year	1,111,806	246,595	127,152	222,684	1,708,237
Depreciation
At beginning of year	249,795	194,995	109,683	126,813	681,286
Charge	22,661	11,925	7,794	28,522	70,902
Disposals	-	-	-	(18,218)	(18,218)
Transfer	-	-	-	-	-
At end of year	272,456	206,920	117,477	137,117	733,970
Net book value
At end of year	839,350	39,675	9,675	85,567	974,267
At end of year	850,011	37,918	16,408	144,451	1,048,788

13. Tangible fixed assets

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

14. Tangible fixed assets

Tangible fixed assets
	Freehold,
	Leasehold	Plant,
	Property &	machinery &
	Leasehold	Recycling	Computer	Motor
Charity	Property	Banks	Equipment	Vehicles	Total
	£	£	£	£	£
Cost
At beginning of year	1,099,806	171,315	126,091	271,264	1,668,476
Additions	12,000	13,682	1,061	-	26,743
Disposals	-	-	-	(48,580)	(48,580)
Transfer	-	-	-	-	-
At end of year	1,111,806	184,997	127,152	222,684	1,646,639
Depreciation
At beginning of year	249,795	138,051	109,683	126,813	624,342
Charge	22,661	11,227	7,794	28,522	70,204
Disposals	-	-	-	(18,218)	(18,218)
Transfer	-	-	-	-	-
At end of year	272,456	149,278	117,477	137,117	676,328
Net book value
At end of year	839,350	35,719	9,675	85,567	970,311
At end of year	850,011	33,264	16,408	144,451	1,044,134
INVESTMENTS
		Group		Charity
		2024	2023	2024	2023
	Note	£	£	£	£
UK unlisted equities		1,000,000	-	1,000,000	-
Investment in subsidiaries	15a	-	-	950,100	950,100
Investment property	16	4,236,489	4,855,266	4,236,489	3,905,266
Total investments		5,236,489	4,855,266	6,186,589	4,855,366

15. INVESTMENTS

15a. SUBSIDIARY UNDERTAKINGS

15a. SUBSIDIARY UNDERTAKINGS
	Country of	Principle
Company	incorporation	Activity		Shares held
			Class	%
The Ummah Shop Limited	UK	Retail	Ordinary	100%
Amanat Waqf Limited	UK	Real Estate	Ordinary	100%

Both subsidiaries are included in the consolidated financial statements of Amanat Charity Trust

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

INVESTMENT PROPERTY	Group			Charity
	2024	2023	2024		2023
	£	£	£		£
At beginning of year	4,855,266	2,670,724	3,905,266 1,720,724		1,720,724
Additions	-	540,000	-	- 540,000	540,000
Transfer	-	706,347	-	- 706,347	706,347
Disposals	(950,000)	-	-	- -	-
Net gains or losses from fair value	309,397	1,405,308	309,397 1,405,308		1,405,308
adjustments
Exchange adjustments	21,826	(467,113)	21,826 (467,113)		(467,113)
At end of year	4,236,489 4	4,855,266	4,236,489 3		3,905,266

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.

DEBTORS:			Charity
	2024	2023	2024	2023
	£	£	£	£
Trade debtors	177,441	86,048	177,441	86,012
Gift aid recoverable	1,116,783	795,411	1,116,783	795,411
Prepayments and accrued income	391,778	245,251	378,664	244,540
Amounts due from subsidiaries	-	-	217,611	202,299
Concessionary loans	467,430	991,822	467,430	991,822
Other debtors	7,078,912	476,237	7,078,912	466,497
	9,232,344	2,594,769	9,436,841	2,786,581

Included in Concessionary loans is an amount of £282,430 (2023: £226,330) which is due after more than one year.

18. CREDITORS: amounts falling due within one year

CREDITORS:amounts falling due within one year	amounts falling due within one year
		Group		Charity
	2024		2023	2024	2023
	£		£	£	£
Trade creditors	6,667		8,031	-	-
Accruals and deferred income	196,295		184,860	189,370	181,179
Other taxation & social security cost	37,259		38,929	33,004	32,294
Other creditors	37,552		3,749	37,552	3,749
	277,773		235,569	259,926	217,222

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

19. STATEMENT OF FUNDS

	At 1 Dec 2023	Income	Transfers	Expenditure	At 30 Nov 2024
	£	£	£	£	£
Unrestricted funds
General reserve	17,045,010	11,353,447	(7,789,818)	(4,476,934)	16,131,705
Designated reserves -Most
Needed	4,949,587	25,969,533	(27,673,550)	29,369	3,274,939
Total unrestricted funds	21,994,597	37,322,980	(35,463,368)	(4,447,565)	19,406,644
Restricted funds
Development	*3,107,383*	*9,904,610*	*38,542,364*	*(46,433,850)*	*5,120,507*
Education	451,781	652,245	8,039,819	(8,816,936)	326,909
Family Welfare	855,380	2,798,675	6,947,208	(10,336,995)	264,268
Food Security and
Livelihood	9,110	136,477	721,335	(838,249)	28,673
Food/NFI Distribution	393,823	3,957,744	21,751,635	(22,723,578)	3,379,624
Health Care	175,314	223,794	689,906	(941,788)	147,226
Shelter	443,392	783,961	362,203	(1,254,941)	334,615
WASH	778,583	1,351,714	30,258	(1,521,363)	639,192
Humanitarian	*6,442,634*	*31,536,779*	*(3,078,996)*	*(8,231,162)*	*26,669,255*
Family Welfare	9,698	-	1,246,628	(1,245,698)	10,628
Food Security and
Livelihood	-	-	-	-	-
Food/NFI Distribution	6,432,070	31,536,779	(5,352,561)	(5,958,458)	26,657,830
Health Care	866	-	96,282	(96,351)	797
Shelter	-	-	266,892	(266,892)	-
WASH	-	-	663,763	(663,763)	-
Total restricted funds	9,550,017	41,441,389	35,463,368	(54,665,012)	31,789,762

TOTAL FUNDS	31,544,614	78,764,369	-	(59,112,577)	51,196,406

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

GROUP
		Unrestricted
	Unrestricted	Designated	Restricted
	General Fund	Fund	Fund	TOTAL FUND	2023
	£	£	£	£	£
Fixed Assets	4,859,428	1,490,000	-	6,349,428	5,913,346
Current Assets	11,550,050	1,784,939	31,789,762	45,124,751	25,866,837
Current Liabilities	(277,773)	-	-	(277,773)	(235,569)
	16,131,705	3,274,939	31,789,762	51,196,406	31,544,614

Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

AMANAT CHARITY TRUST

Notes to the consolidated financial statements For the year ended 30 November 2024

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS CHARITY

CHARITY
		Unrestricted
	Unrestricted	Designated	Restricted
	General Fund	Fund	Fund	TOTAL FUND	2023
	£	£	£	£	£
Fixed Assets	5,805,572	1,490,000	-	7,295,572	5,908,792
Current Assets	10,524,816	1,844,417	31,789,762	44,158,995	25,867,290
Current Liabilities	(259,926)	-	-	(259,926)	(217,222)
	16,070,462	3,334,417	31,789,762	51,194,641	31,558,860

22. FINANCIAL COMMITMENTS GROUP

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

	Land and buildings	Land and buildings	Other
	2024	2023	2024	2023
Expires in:	£	£	£	£
Less than 1yr	175,100	165,600	8,209	8,209
2-5 yrs.	408,870	95,678	6,446	13,478
	583,970	261,278	14,655	21,687

23. FINANCIAL COMMITMENTS CHARITY

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

	Land and buildings	Land and buildings	Other
	2024	2023	2024	2023
Expires in:	£	£	£	£
Less than 1yr	175,100	165,600	8,209	8,209
2-5 yrs.	408,870	95,678	6,446	13,478
	583,970	261,278	14,655	21,687

24. AUDITORS REMUNERATION

Statutory audit fees totalled £15,000 (2023: £14,000) 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 2024 is £7,065,812 (2023: £452,480). The Trustees expenses are disclosed in note 11.

26. COMPARATIVES

The current year financial statements and notes have been altered in order to correctly comply with accounting standards. As a result, comparaitives have been amended to correctly comply with standards as well.

~~eer~~ Docusign Envelope ID: C0EF64E4-3C96-41D4-8B7C-6692F45148DA

| Bolton | BL3 3SJ | United Kingdom Head Office: 578 – 600 St Helens Road Tel: +44(0)1204 661 030 | Email: info@uwt.org

Ummah Welfare Trust is a trading name of Amanat Charity Trust UK Charity Registration Numbers: England & Wales: 1000851 | Scotland: SC043084