Elrdhma Charity Trust (fonnerly Charity Islamic Trust Elrahma) Annual report and financial statements for the year ended 31 December 2020 Charlty Reg15traflon Number 1026927
Annual report and financial statements for the year ended 31 December 2020 Page Truste&s, Officers and Professional AdVis3................................................................ Report of the Trustees fortheyear endal 31 December 2020................................. Independent auditors, report to the of Elrahma Cbarity Trust.................. Statement of finaDcial activities (including income and expenditure account).......... Balance sheet as at 31 December 2020....................................................................... 10 Statement of Cash Flows..............................................................................................ii Notes to the accounts.............................................................................................. 12-21
Mr. Abubaker Megerisi (Chair) Mr. Patiick D Daniels (deaseI z7 February 2020) Mr. Mohamed Megerisi Mr. Ali Abubaker Megwisi Audltor8 Ha)smaeint)Te Il io Queen Street Pla¢e IDndon EC4R National Westm1er Bank P ccadilly & New Bond Street IA) Bra[1 63415 Piccadilly Indoll W0 So]idtonT 64 North Row IA)ndon W7DA JieWred Suite 201 Stanmore Place Howard Road HA7 Jwr
Elrahma Charity Trust Report ofthe Trustees for the year ended 31 December 2020 The TrLLStees present their annual rewrt and the audited financial ststements for the year ended 31 DeCern 2020. The aoUnts have been pretArvJ in accordance with the accounting po]icies set out in note i to the accounts and comply with the Ckjaritys Th]st De& the Charities Act 2011 and the Statement of Reconunended Prartice for Clwities (SORP 20) (Seeond Editio effective i January 2019). The Objects for which Flrahma ClwityTh]stis establis1 are.the re]ief of pOty and advancement of education and religion in the Mwlim Con]munity. to a&stst the p(x)r and orphans of the Islamic religion. to erect or help to erl 5ch(M)M charitable institutioThs. m(W> orphanages and nurseri&s for the Ithic Community in the United Ku¥dorn and abroad Priority is given to such charitable The Charity proNides donatio5 and grants to individuaL8 and other charitable organisations In accordance with its object& ApplicatioDS for educational grants are receiv by the Charity and reviewed by the tnLStees. Awards are made to applicartts who meet the speafie Lyiteria. In the )Ear the charity has fo]lowed policies of prOVidll financial lstanCe to only those organisations in the United Thgdom and abroad whose aitns and obJtiveS were similar to its own and were aelivety engaged in achiebing these objtiveS The clwity proludes fiDaniial assistance to only those organisations with E(•na.fide registered charitable siatus. The cljaritable institutions seelung finanaal assist are required to submit in support of their applicatio their constitution in the forni of a ThLSt Deed Memorandum and Articles of A4¥llation of a limited Company with cftjaritable objectives and registered as such as a clwity. Fllwiaal lStance18rallts are awarded onty to full lime students studying ID an internationa]ly reeogni5ed universityand their app]ication must be accomtkvkied byreferences and recommendations from fornier and present educational Institutio Applications from only those students are considered who have achieved ¢xceptioDallygocKJ results in theirprevious academic qua]ifi¢atioDsand are exMed to produee gwd results in their future studies. The followin8 properties are held as investments: 25 and 26 IA)vat IA)ndon EC& is let to 14)ndon It1te of kn and Banking. li to 35 Si. John's Street, Indoll ECI, was let to WPP Gro limited until Decem 2018 when the propeTty tcame vacant. In October 2019 an tndewtht valuation of the freehold inv&8tinent properties was vndertaken by Ms Emma Bailey MIU(3 of cUshm & Wakefield IJTr which resulted in a valuation of the properties as at 31 December 2018 at £29,450.000. TheTrustees bave reviewed the Fosition at 31 December 2020 and are of the opinion that, given the current cbanges to the one propetyand amounts being Spent to refitrbish it. and the other being Id on the same tern]s as the previous year, that there ha8 been no njaterial movetttent in the lUatiO In line with its overall objectives the CharityR)as for sy)rne years owned prwrties wbich it provides to other cl]arities for them to operate as places of worship. This aspect of its activities the properties concerned have been Separatelyiderktlfi as Prc8rame Related Investmerjts in the ae¢ount&
Elrahma Charity Trust Report ofthe Trustees for the year ended 31 December 2020 (continued) DetsiL8 of the main actiNTrties undertaken to finther the charlS purwses for the public benefit are described alx)ve under grant.makDg and belowunderAchievements and Perforn]ance. The ThLStees confinn that they have referr to the guidanee eontained in the chltycoMMi0n's general guidanee on public benefit when reviewing theTrust's ainL8 and objecti, in p]anning its future aetiVAties and in setting its grant tM)Iicy. The audited accounts for the year ended 31 Dnir 2020 ha been prepar&l and accompany this reporL The TrSteeS are pleased and Satisfi that the eharityhas aeR)ieTrtd its objectivesin accordance with its conslilutico aThdhoFefiyll continue to its fimds to achieve the similar obJtiVg in the futUT& The totsl numtr of donations n)2de to elwitable organisations and overseas institutiOnB was i and the total value of this donation was £23&195 (2019: £450,975). The lotal number of students who reeeived uCatiOnal grants was ll3 and the total amount of grants awarded to these students was £145.200 (2019: £48.058).Thefinancialrelief tO[r fami]ies amount to £44,637 (2019: £53.556). The organisatioAL8 efiting from the ckwitable donations in the United Thgdom and abToad were involved in runJ]ing sehooLs, mosques, adult UCatiOll c]asses orphanages nurseri&8, srATsb1p of orpl]ans. students p( fami]ies and provision of humaDitarian aid The charity does not fund raise with memivs of the public and ace0rdi there have been no complaints rtteived ryth8 fimd raiw¥ in the year (2019: Nonek The income for the year ended 31 Dernber 2020 Wds £947,747 {2019: £1,004.660). tnvestment income of £694&7 (2019: £67&011) was supplementgj b) income 1Ved in respect of a Property sold in 2016 of £253.200. The cost of cE]aritable acttvitie4 exduding g()VenCe costs. was £80040 (2019: £1.286,278). The Governance costs arnounted io £4.238 (2019: £8.610). The operating incoD]e for this periixl was £72,969 (2019 - operating loss £290.228) and at the year end the aggregate value of the funds w28 £55,270,636 (2019: £5&17,667). CoDsiduation has b given to the impaet on cash flow and the Trustees are satisfied Ihat the ChaTiW5 cash reserves are more than adequate to offset any negative impact arising from the eri8i& The EK)weTS of the ThLStee4 incI]ng the )r$ of inv8stmenL are set out in the Trust DL These include investment in freehold and leasehold prOtieS (more than 60 years) and in approftl investment fund& The Trustees seek to invest in properties in Sohl after katiOnS le they consider offer a satisfaclory return EK)th in terms of income and prosEtive capitsl appreciation in the long tern without assuri an undue degree of risk The Incon is used to llke el)aritsble donations and to meet the cost ofmaintaining the charity. The reqUiremt that a property offers prospects of capital appreciation is intelld to ensure that the ctwity maintains sufficient capitsL in the forni of iDcome- producing property, to be able to meet its commitments in the fillur& The trW$t are satisfied with the [rfOrmaD of Ihe investMts giv the level of (xcupancy in the
EIrahn Charity Trust Report of the Trustees for the year ended 31 December 2020 (contlnued) The a&sets that make up the charitys hmds are unrestricted and accor(nglY they are also available as the general reserve& tn addition to careful planning of the cash flow. so as to meet both grant commitments payable in the year and the administrdtion expenditure from the agreed budgec the charity maintsins a osh reserve to cover anticipat grdnt and other firture conunitments in the Tent and forthcoming financial year& refurbishment of one of its properti&% Once the amount needed to fund thi8 is dear to the ThLsiees it is their plan to invest anyfurthersurplus in another investment proFety. Key perfornwice InditorS Given the straightforward nature of the aettvities of the ckwity. trustxs are of the OPiDion that analysis usingKPIs is notnecessaryforanunderstandiDgof the developmenL Ferforn)ance or position of the bwine The TnLStees consider the major iisks to which the organisation May exEKwI at their metings and coL8ider the likeli and impact of all &gDificant risks. All significant iisk% together with current mitigation action& are eWed rethty throughout the year and the Trustees are satisfied that systems have been develoFel and are in place to mitigate identified risks to an acceptable level. The primapal Tisks and uncertainties ldenlifibY the Chityare as follows: Risk identified Shortfall on receipt of protwtyincom The Trustees put emphasis on the quality of tenant covenant& In addition the cbarity has st]bstantial reserves which would provkde cover for aetivitie8 should there be a shortfall. The Iee DIntaIn a dose inw)Ivement in the chariws day to day activities and donatioTh8. In addition procedures and controls are aCtitie& Impart of Covid Criss Approrffiate action hasten taken to ensure the proteetion of all employees. The Ixisis is considered to ha a limited afft on the eEJaritys activitie& The TrteeS are keeping tbe impaet of the Cri under review to the extent that it impacts on its investsnent propety. Reduction in applications red for charitsble hdp. Amarketing plan for the Ckjarityis under consideratso
Elrahma Charity Trust Report of the Trustees for the year ended 31 December 2020 (contfinued) The tnLStees will continue to tske steps to m&xirnise income from investments by seeking higher level of occupancy on its freehold investment propertie& In addition fi]rther investrnents in investment propety are planned. Following the vacation of the St John Street property the Trustees are pursuing a p]an of refurbishment of this investment with a view to ma>illllsing the long terni return thereon. The trttstees proTride properties for the use of other chiti. Should the opportunity further prcyamme re]ated investments be made. The Trustees are mindful of the potential ne&1 for clwitable help lSiDg from the impact of the CoronaVin outbreak andMll provide help slKnJld a suitable need be identifie E]rahma Charity TnLSt Wds registered as a charity with the Chlty Commiwoners (Rwstration numtr 1026927) under a ThLSt Deed executed on 27 Wtember 1993. TheTrustees, all of whom held office duriDg ended Decem 2020 and up to date of this Mr Omar Megerisi Mr Hazem Megerisi Mr Patrick D Daniels {Deased February 2020) Mr. Mohamed Megerisi Mr. AliAbubaker Megeri8i Mr. Ahmed Tarek Megerisi Thefirstfive tnlstees are the fOUndmemtrs0f tTh]stsInce itsdthtion on 27Wtember 1993. apwinttnent of furt trwstees. In selecthg furtkn persons to be app)inted as trustees, the trLLStees are required to take into alzount thebenefits of app)iTrti a person who is able byvirtue ofhis or her personal or professional qua]ifieations to a contribution to the pursuit of the objeets or the management of the Charity. The governing body of the ChaTityis the Board OfTr$teeS whichcomprises eight members and meets at least twice a year to review the performan of the Charity. The Board of TnLStees has set up a Con)mittee of two trslee$ including the cbaIr of the BoariL It meets on a regular basis and is aCt1Y Invol in supeiS1 the Chariws administrative and fU]cial affairs and also makes day to day management decision& It approves thtional grants to Muslim stL¥lents and funding lo the Islamic iDstitution& NewThLStees undergo aninduetion process which includes abriefing session and netingS1th other trustees. An induction pack is given to new ThLStees ajid additional opw>rtunities to attend external
Report of the Trustees for the year ended 31 DeCem1r 2020 (contlnnedj
Elrahma Charity Trust Oplnlon We haye audited the financial statements of FJr2bma Charity TrLLSt] for the year ended 31 December 2020 vA]ich comprise the Statement of Finaneial Activiti Balance Sheet, Statement of Cash Flows and notes to the financial statements, inc111ng a sumw of Si]ficant accounting liCe$. The finaneial reportiDg framework that h&8 been applied in their preparation is applicable law and United Kingdom Accowlting Standards. including Mnancial RewTting Standard 102 The Fllwiillal ReFM)rting Standard applieable in the UK and Repub]ie of Ireland (United thgdom Generally Accepted Accounting Practice). give a true and fair view of the state of the charitys affairs as at 31 2020 and of the charity's net m(Ivement in fund8 for the year then ended; have been proterly prepared in a(Tordan with United Thgdom Generally Accept AeeouDting Practictr and have been prepared in accordan with the requirements of the Charities Act 2011. Ba818 for opinlon We have been ap]nted as alItOr utmler tIOn 44 of tbe chltieS Act 20u and report in accordance with the Aet and relevant rtio made or having effect thereunder. We conducted our audit in accordance with International Standarth on A]Iting (UK) (ISAS (UK)) and app]icable12w. Our responsibilities under those standards are ftllther desaibed in the Auditor's reS[bIlitieS for the audit of the financial statements section of our rekxt. We are independent of the chwity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK including the FRCS Ethical Standard and we bave fu]filled our other ethical responsibi]itie$ in accordance with these requirements. We itlieve that the audit evidence we have obtained 18 sufficient and appropriate to provide a basis for our opinio Conduslons relatln8 to goln8 conLvn In auditing the financial statements. we have conduded thai the trustees, use of the going concern ba818 of acCoLtir in the preparatico of the finan stateTnents is appropriate. Based on the work we have perforrned. we have not Identifi any material certaintieS relating to events or conditions that, individually or colleetively. may cast significant doubt on the [group/chlty]'S ability to continue as a going concern for a Ferlod of at least t*tlve months from when the financial ststements are authoris&4 for iswe. in the relevant 8e¢tioDs of this reporL Other Irfornt[0n The trustees are resFonsible for the other inforn]ation. The other inforn]ation comprises the information incIed in the Rey)rt of the Trustees. Our opinion on the fllwiaal statements does not cover the other infOrntiOn an(L expt to the extent otlLer4 explicitly slated in our rep)rt. we do
Elrahma Charity Trust In connertion with ow audit of the finan 8tatements, our res[wl)Ity 18 to read the other Inforntion in doing consider whetkr the other infortllation is llwterially inconsistent with the financial staterwits or our knowledge Obtain in the audit or Otherwi apFe2rs to be materially misstatd If we identify SLth material ineonsAStenoes or apparent material misstatements, we are requir&1 to determine whether there is a matrxial misstatement in the finaThci31 statements or a material mi&statement of the otherinf0nnati0 I£ based on the workwehave ttrforn]e4 we conclude that there is a terIal mi&statement of this other inforrnatio we are wuired to report that faeL We bave nothing to rep)rt in this regar We have notlllDg to report in re8Fect of the following matters in relation to which the Charitie8 (Accounts and Retths) RegulatioDS 2008 require u8 to re[rt toyou if, in ow opinion: adequate accountiDg records have not been kept by the Clty, sufficient accounting record5 have not teen kept: or or we bave not e1v all the information and explanations Tquire for our audit. As exp]ained more in the trSleeS. resrKjbilltieS statement set out on page 6, the tnee8 are responsible for the prepanlion of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trstee$ deterniine is necessary to enable the preparation of finan(ll statements that arefree from mateTial misstateD]enL Wheth due to fraud or or. In rffepari the finaniial ststement& the trStee$ are rey)le for aSSesg the charitys ability to continue as a going conc disclosing. as applicable, matters related to going concern and ustng the going concern basis of accounting unle&% the trsleeS either intend to liquidate the charity or to cease operation4 or have Tro realistic 31ternatiNt but to do so. Auditorf8 responslbllltles for the auditof the finandal StateMts Our objtiveS are to obtain reasonable a&surance atmt Wheth the financial statements as a whole are free from material mi&8taternenL whether due to frdud or error, and to i&sue an auditor's reEK)rt that includes our Opinio Reasonable a&surdnce is a high level of &ranc¢ but is not a guarantee that an audit cOndted inacCordanWith ISKS (UK) will alwaysdetect a material misststementwhen it exist& Misstatements can arise from fraud or error and are eottsidered material if. individually or in the aggregate. theycould reasonablybe to infiuencethe noMiC decisi0Thg of users taken on the basis of these finanaal statemen IgularitieS. Inc1]ng fraud are Instan of non-complianL* bws and rwdations. We design procedures inline wlthourrw)8IbIlltie& outlined at(SNE. to detect material misstatements in respect of irregularitie4 incIlIng fraud The extent to which our pr(ttdures are capabk of dettIng irregularities. inclu(bDg fraud is detailed ttlow. Based on our derstanth of thectwityand the environment in thicbit operate4 we identified that the principal risks of Thon<omp]ianee with law5 and rtiO8 related to eompliance with the Charitie5 act 2014 employment law and health and safety regutions and we COldered the extent to which non<omp]iance might have a material efft on the financial ststements. We also considered
Elrahma Charity Trust sueh as the Charities Act 20 the Statetnent of Recommend Praetiee for Ckwities (SORP 20). FRS102 and payroll taxe& We evaluated management's incentives and Op1ltieS for fraulent ttwiipuIation of the financial statements lincludillg the risk of override of controls). and deternjined that the piyncipal risk8 were related to recognition of income and management bias in eertain accountiDg eslimates. Audit Inwting corrw)ndence with regulators and tsx authorities. Discussions with management indliDg consideration of known or SIL$ted instances of non-compliance with laws and regulation and fraud. Evaluating management's controls design&1 to prevent and detect iTr4u]xrities: Idenbfyung and testing jownals in partiojlar journal entries posted with unusual account combinations. w)stings by unwual users or with nUal des(Tiptions' and Challenging a&wrnptions artd judgements rnade by management in their critical accounting estimate& A further dlptIOft of ow rwibilities for the audit of the financial stateD)eDts is located on the Financial Rep)rting Council's website at: I.fr¢.0 .ukJaut1rtorsres n$1le$. This descriptioTh fornis part of our alItor'S retA)rL Use of our report Thss rewrt is made solefy to the clwiws truste. as a I. in accordance with section w of the Charities Act 2011 and rUlatio$ made under section w of that Act. Our audit work bas been undertaken so that we migbt state to the chariws trustees those matters we are required to state to them in an Auditor's report and for no other PUTpc6e. To the fullest extent permitted bylaw. we do not accept ora&sume rtst*)nsibilityto anyone other thaD thechar1tystr¥laB a Ixxlyforouraudit worK for this reFrf or for the opinion8 we have formeiL io Queen Street Mace ndon Statutory AuditorJ [date] 29th October 2021 EC4R Haysmacintyre IIP is elIle to act as an auditcr in ternLS of tIOn 1212 of the CompaniesAet 2006
Elrahma Charity Trust ststement of financial activities for the year ended 31 December 2020 2020 2019 Income fronL" Investments 69W7 67&011 Donations Other incorne 253.200 329.649 Total Ineome 947)747 1.004,660 Charitable activih &4&5 874y8 L294.888 874T78 iR94088 Netlneon*l(expendkn) T4969 (290228) Reeondllatlon of fimd•i &%197?667 A87.895 All fimds in LM)th yeats are unstriLe Ail gains and reOwJi5 in the yvdr are induded ar#1 therefore no separatr statement of totsl io
Balance sheet as at 31 Decem1 2020
Statement ofcash Flows 2020 2019 Net(xth (TLs&I in) ting actTLryties (see ithv) (IAI4836) Rents from investrnents 675.011 Calns from sale of prot Purchase of fLxed assets 567.IX)O {¥iso6) {A04ko80) Netouh 667 I,ioo (86a67) (3J3.T31) 22A56?954 22.770.685 at the end RECONCIUATION OF INCoMEI(EXFENDURE>TO FIL)W FROM Net iFuXM/(eXl1ure)fvp the ¥wCaspep the (290928) Depreciation charges Gains from sale of property Rerrt5 from investments A59 317 (25&200) (567,coo) (547) (675.oll) (49.996) 267,682 (IA9A79) Net ¢ash (Msed In) o ANALYSIS OF1 DEBT At31 At iJaLuary 2020 Cth Flow 2020 Cash at bonk and In harnl (86J67) 4370,587 Totsl 22As6.954 {86a67) 2%?37087 12
Notes to the accounts For the year ended 31 December 2020 i Accounting polic&es Basls of preparatlon The finaThei ststements have iEen prepared in atxordantr with the Slaternent of Recon)mended Practtce for Charities (SORP 20) (Second Ellitio effective i January 2019) and the Ifuwioal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). FJrahll Charity TnLSt meets the definition of a pub]ie benefit entity un(kr FRS I02. A8sets and liabilities are initially rwised at hiorid or transaction value unless 0theTh4ry stated In the relevant accounting tKAicynote& Tangible Ilxed assets any incidental exFenses of aequisition. All tangible assets eosting more than £100 are capitalised, and any item costing than this is written off &$ expenditu Depreciation is calcu]ated so as to write off the cost of tangible fixed asset& less their estimated residual values. over the expected usefi Office Equipment Fixtures and fittings 25% per annum 25% per anThum The Investment ProrJtie5 are held at fair valw No depreuation is charged and movements in valuation are taken to the Statement of Fuw)illal Aetivities. The most recent indeFendent Valuation of the freehold investment properties was undertaken in October 2019 by Ms Emma Bailey MRtCS of cush & Wakefield LLP. Pr(grame related investments are those a&sets that are used for clwitable purpcw and not for financial retUllL These assets are valued at oriwal eL*t and are not deprlat. Monetary assets and liabilities havebeen traL8]atwJ into sterling at the rntes of exchange nlling at the year eniL All other foreign excbange differti are tsken to the Summaryof FU]el31ACtIv1ties in The ckjarity recognises income when all of the following teria are met: the el)arity has entitlement to the fun<ls and any Ferfornwsce conditioLs attached io the iten)s of income have been met. it is probable that the income be received and the amouDt can n]easw re]iably.
Elrahma Charity Trust Notes to the accounts For the year ended 31 December 2020 Accounting po]icies (continued) WhereincottLe has related expendlture (aswithfUndra8 OrlI]ar]nC0el theincome and rdated expenditure are rewrted gross in the Statement of Fmani?al activitie& Investllkent income mainly reprosents renta]s receivable from tenants i)ccupying the investrnent properties and is accounted for on aC4]S S1& Interest on depcfjit fimds held is ineluded when receivable and the amount can be measured Tr]iably. Dividends are Twis once the div&dend has been dec]ared and notification has been r&ld ordividendis due. This1$ normally UFrf)n notification by the investment adNrysor ofthe dividend yield of the irAvestsnent portfo]io. tk)natioLs Compri amounts r1VeddUI]ngtheYear. Giftsprov1d inkind arevalueA based OTh ccAst Infonnation provid8J by the donor. if not alIable then an estimate is llde of eurrent value in use of the asset. Irrecoverable value xdded tsx (VAT) The ekwity registered for VAT during the year and ha8 Opted to tsx one of its properties. this is a partial regtstration it Cal01 rr VAT it pays on some of its acquisition of g(N)ds and seTVi Irrecoverable VAT fo5 part of the eharity's oveJall expen¢Jiture and i8 either accounted for with the expenditure to vthieh it re12tes or is capitsliwl within tangible fixed assets. Extnditure i8 recwised once there is a legal or eonstructive obligation to lle a payment to a third paty. it is probable that settlernent be m]uired and the amount of the obligation can be measured reliably. All elld1tUre is account&lfor on an accnjals basis under the following headings: Charitable activities represents doDatioDS paid by the TrSt during the year and the cost of services provided by some staff members to the Fl Farouq Foundation. Support costs represent the cost of runni the charity and t)T)ically include the cost of the finance functio office fa(ilities and Inforntion tthology cost4 legal and [wfesSi(M fees and bank Certsln expenditure is appJrtion8J to cost categori¢sbased on the amount attributable to that activity available in note 3. Governance cr are thc6e cc6ts aSl2tl with Strategic as oPFe to Chariws management and adMItt2ti0n Cts. These indude swh iiemsas exteTDal audiL legal advi and costs asxKiated with mpliance of constitutional and statutory r&]Ult Unrestrirted funds Funds are available to sFend on actisryties that further any of the pUryx of the cbarity. Designated Fund8 aside for 3 wific Debtor8 Debtors are at the sett]ement amount after any trade di8{X)l offered Prepayments are Illed at tbe amount prepaid net of any trade dlscounts d
Notes to the accounts For the year ended 31 December 2020 (continued) Accounting policies (conttnued) Cash at bank and in band itidudes bank account& cash and sh(wt term bigblyliquid investments with a shortmaturityof three montlL8 Or1 from thedateof aowisAtion DrolDg of thedet*)sit or similar account. Creditors and provlslons Creditors and provision% are reuvisl where the clwity bas a present Obligatic resuIting from a past event that probably result ill the transfer of funds to a third paty and the amount due to settle theobbgatiollcanbe measuredorestimated rdiably. Crediiorsand provislonsare normallyTognIsed at their settlement amount after all0kni for any trade diOUnts d In the view of the trustees in applyin8 the accounting liCIeS adopt& other than the valuation of investment propty as rnention in the tr$t reporL no judgements were required that have a 8ignifieant effect on the amounts Teco8nisoJ in the finanaal statements nor do any e8tlmate8 or assumptions made Lwry a gnIficant riskof material adjtLSttnent in the next financial year. The Chlty only has basic fiDan(ial assets and financial ]iabiliti89 of a kind that qua]ify as basic subsequently n]easured at their settlement Investment Income 2020 2019 Rentsl income &98.159 359,710 Dilapidation eompewtic 254af 165.640 Interest weivable 102.028 149,661 6947 675,011 Charitable activltses 2020 2019 Donations 4259032 652,589 Incl in donatiorNs are VI2tional grants to individuals tota]ling £Ms200 (2019." 17 indimduals re¢elved £48.058)
E]rahn Charity Trust Not&s to the accounts For the year ended 31 December 2020 (continued) Support costs 2090 2019 Wages &salarie8 (Note 121,083 1,264 2A62 14al & PTofessioDal fees 98.0 13&838 Rent and rates 179249 22,674 Travd 2a32 659 42a50 37,129 3.181 1,828 10.885 16,392 ikpreciation 317 Dikpidation ronststement costs 41247 165,640 I65 12L543 6,289 1,199 Stationery. Frf)Stage and printing 199 636 43508 633,689 2020 2019 Audit Fee 10,800 6.820 Tax advi 1fr740 VAT advice 1.698 14*238 6,820
Elrahma Charity Trust Notes to the accounts For the year ended 31 December 2020 (contAnued) 6 . Other Income 2020 2019 Inrne from sale of prOty 237a27 329.649 Q)rODaVirJQb Retention Schen]e clain 8T3 253.200 329.649 Tangible flxed a&qets Total F4ulpment md Flttln88 Cost/Valvation At i January and 31 De¢Tmkn 2020 1,784 511 2.295 At tst January 2020 293 1,661 Charge for year 36 At 31 Deeember 2020 IA16 404 1,820 Net Bookvalue At 31 Decemkn 2020 368 107 475 At 31 December 2019 491 143 634 17
Notes to the aceounts For the year ended 31 DeLmber 2020 (continued) 8. FeehOld Investment Properties 2020 2019 Valuatlon At i January 2020 299106 29A50,000 Additions 104,080 141,506 At 31 December 2020 29109586 29.591.506 As Ttwitioned in note i investment pryjpwlies were re-valwl on an open nwketbasis in October 2019. The LegaTrt Company limited acts as a nominee companyto hold titles lo the properknes as bare trustees for and on beha]f of the tneficiaries whose Dames appear agaiDSt each such property. 9. Programme related investments 2020 2019 AB at i January and 31 DeCeMr 2020 3a63a63 3,36&363 The above relates to properties held by the cljarity that are used entirely for chitable purp)ses. io. Debtors: amount falling due within one year 2020 2019 other (kbtors and prepaymerAts 185,850 249,914
Notes to the accounts For the year ended 31 December 2020 (continued) ii(a) Creditors: amounts fal]ing due within one year 2020 2019 Trade creditors 41*798 812 8002 8.518 68,371 Taxatlon la395 237.351 2,627 255A43 388,851 2090 2019 Deferred income at i January 2020 8oA02 84,378 Receivedl(released) in ye2r 1.030 (3,876) 8JA32 8002 ii(b) Credntors: amounts falling due after one year 2020 2019 7&882 75,853
Elrahma Clw•ity Trust Notes to the accounts For the year ended 31 December 2020 (continued) 2020 2019 Balance at 1st January 2020 5&197J667 &%487.895 Net movement of fimds during the year T4.969 (290,228) Balance at 31 December 2020 5512709636 &5.197.667 . Employees The average monthlynwnber of persons employ bythe trSt Wds 4 (2019: 4). See below. 2020 2019 Staff c06ts (for the above per80n8) Wages and saknie8 118A59 113,056 109339 9.781 Employern NIC allowan (4,000) (3,000) Pensions 11911 1,246 196.709 124083 No employee eamed £60,000 Ix more (2019: none). All employees are engaged in the administration and management of the ThLSL As mentioned in the TrLLsiees' Rewrt remuneration of all ernployees is set by the 1ee8. All key management decisions aTe taken by the Trustees who are not remuneTrted Were the Trustees to delegate control over this area it would result in an increase iti rernunerdtion which theydo not see as neee&sary at present. 20
EIrahn Clw•ity Trust Notes to the accounts For the year ended 31 December 2020 (continued) 4. Operating lease receivables At the Balance Sheet date the tharity had the following future minimum rentals rtteivables in respect of DOnanCe1]ab1e operating lea. 2020 2019 Within one year 330,000 330.000 4251157 660,000 95.157 7&5J157 085.157 The tn]stees did not Teeeive any paYnlt in role of tnLStee or acteJl as agents for the Charity, nor were anyexpenses reinthutwl to them (2019: none). 16. Related Party Transactions During the year the charityreiVed rr SViceS from Tristar Ttth Solutions limited forwhith it paid £1.001 (2019:£689). Mr Omar Megerisi and Mr Hazem MegeTiSi are (brectors of Tristar Teeh &)lutions Iamited There no otherrelat&J paty traThsaetiODS dwing the year (2019: None). An i$UranCe premiuD] of £1.676 (2019: £1,360) was paid to provide protection cover to the tharity against claims arising from the neg]igent acts or defaults of its trStee& employets or agents. and to indemwfy the trustees or otl*r officers against the conSw of any neglert or default on their 18. Ultlmate controlling party The Trustees acting in concert are deem tobe the ultimate controlling party of theTrusL 21