2025-03-31-accounts - Surrey Islamic Trust

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Surrey Islamic Trust

Charity No. 1014031

Trustees' Report and Unaudited Accounts

31 March 2025

Surrey Islamic Trust Contents

	Pages
Trustees' Annual Report	01 to 02
Independent Examiner's Report	03 to 03
Statement of Financial Activities	04 to 04
Balance Sheet	05 to 05
Notes to the Accounts	06 to 13

Page 1

Surrey Islamic Trust Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1014031

Principal Office

Albert Road Addlestone Surrey KT15 2PX

Trustees

The following trustees served during the year:

S.H. AHMED A. RAHMAN M. UDDIN S.M. Uddin M.K. Yakub

Accountants

Mohammad Shah & Co. LLP Bank House 209, Merton Road Wimbledon London SW19 1EE

Bankers

Barclays Bank Plc National Westminster Bank Plc

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

Page 2

Surrey Islamic Trust Trustees Annual Report

Signed on behalf of the charity's trustees

M.K. Yakub Trustee 20 January 2026

Page 3

Surrey Islamic Trust Independent Examiners Report

Independent Examiner's Report to the trustees of Surrey Islamic Trust

I report to the trustees on my examination of the financial statements of Surrey Islamic Trust for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mohammad Shah & Co. LLP Bank House 209, Merton Road Wimbledon London SW19 1EE 20 January 2026

Page 4

Surrey Islamic Trust Statement of Financial Activities

for the year ended 31 March 2025

Unrestricted funds	Total funds	Total funds
2025	2025	2024
£	£	£

80,208	80,208	57,530
1,412	1,412	3,350
-	-	4,816
81,620	81,620	65,696

3,212	3,212	5,150
67,796	67,796	52,018
71,008	71,008	57,168
-	-	-
10,612	10,612	8,528
-	-	-
10,612	10,612	8,528

10,612	10,612	8,528

926,362	926,362	917,834
936,974	936,974	926,362

Page 5

Surrey Islamic Trust Balance Sheet at 31 March 2025

at 31 March 2025
Charity No. 1014031		2025	2024
		£	£
Fixed assets
Tangible assets	10	894,634	884,372
		894,634	884,372
Current assets
Debtors	11	20,000	20,000
Cash at bank and in hand		59,755	52,076
		79,755	72,076
Creditors:Amount falling due within one year	12	(37,415)	(30,086)
Net current assets		42,340	41,990
Total assets less current liabilities		936,974	926,362
Net assets excluding pension asset or liability		936,974	926,362
Total net assets		936,974	926,362
The funds of the charity
Restricted funds	13
Unrestricted funds	13
General funds		936,974	926,362
		936,974	926,362
Reserves	13
Total funds		936,974	926,362

Approved by the trustees on 20 January 2026

And signed on their behalf by:

M.K. Yakub Trustee 20 January 2026

Page 6

Surrey Islamic Trust Notes to the Accounts

for the year ended 31 March 2025

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Surrey Islamic Trust Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Page 8

Surrey Islamic Trust Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Surrey Islamic Trust Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donation Jummah Collections 4 Income from charitable activities Donation For Islamic Relief	Unrestricted £ 70,970 9,238 80,208 Unrestricted £ 1,412 1,412	Unrestricted funds 2024 £ 57,530 3,350 4,816 65,696 5,150 52,018 57,168 8,528 8,528 8,528 917,834 926,362 Total 2025 £ 70,970 9,238 80,208 Total 2025 £ 1,412 1,412	Total funds 2024 £ 57,530 3,350 4,816
			65,696 5,150 52,018
			57,168
			8,528
			8,528
			8,528 917,834
			926,362
			Total 2024 £ 26,874 30,656
			57,530
			Total 2024 £ 3,350
			3,350

Page 10

Surrey Islamic Trust Notes to the Accounts

5 Other income

Grant External Venue Hire 6 Expenditure on charitable activities Expenditure on charitable activities Ramadan activities Donation For Islamic Relief Governance costs 7 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages	Unrestricted £ 1,800 1,412 3,212 Unrestricted £ 34,008 8,720 1,669 22,199 1,200 67,796 2025 £ 1,669 2025 31,908 31,908	Total 2025 £ - - -	Total 2024 £ 4,616 200
			4,816

		Total 2025 £ 1,800 1,412 3,212 Total 2025 £ 34,008 8,720 1,669 22,199 1,200 67,796	Total 2024 £ 1,800 3,350
			5,150
			Total 2024 £ 34,953 7,942 528 7,395 1,200
			52,018
			2024 £ 528 2024 31,908
			31,908

No employee received emoluments in excess of £60,000.

Page 11

Surrey Islamic Trust Notes to the Accounts

10 Tangible fixed assets

10 Tangible fixed assets
Cost or revaluation At 1 April 2024 Additions At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charge for the year At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Other loans Other taxes and social security Other creditors Accruals 13 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds	Land and buildings £ 780,696 - 780,696 - - - 780,696 780,696	Plant & Machinery	Improvemen t £ 137,713 - 137,713 38,792 - 38,792 98,921 98,921	Total £ 944,030 11,931
		£ 25,621 11,931 37,552 20,866 1,669 22,535 15,017 4,755 2025 £ 20,000 20,000 2025 £ 4,000 26,844 4,371
				955,961
				59,658 1,669
				61,327
				894,634
				884,372
				2024 £ 20,000
				20,000
				2024 £ 4,000 21,432 3,354
		2,200		1,300
	At 1 April 2024 926,362 926,362	37,415 Incoming resources (including other gains/losses ) £ 81,620 81,620	Resources expended £ (71,008) (71,008)	30,086
				At 31 March 2025 £ 936,974
				936,974

Page 12

Surrey Islamic Trust Notes to the Accounts

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Fixed assets Net current assets 15 Reconciliation of net debt Cash and cash equivalents Borrowings Net debt	At 1 April 2024 £	Unrestricted funds £ 894,634 42,340 936,974 Cash flows £	Total £ 894,634 42,340
			936,974
			At 31 March 2025 £
	52,076	7,679	59,755
	52,076 (4,000)	7,679	59,755 (4,000)
		-
	(4,000) 48,076	- 7,679	(4,000)
			55,755

Page 13