CHARITY REGISTRATION NUMBER: 1034710 Islamic Trust {Maidenhead) Financial Statements 31 March 2024 MERIDIAN INSIGHT Accountants & Statutory Auditors Unit 15A, Slough Business Park 94 Farnham Road Slough Berkshire SL13FQ
Islamic Trust (Maidenhead) Trustses. Annual Report Year ended 31 March 2024 The trustees present their r8POrt and the flnanclal statements of the charlty for the year ended 31 March 2024. Reference and administrative detalls Reglsterod charlty name Islamic Trust (Maid8nheadl Charlty registration number 1034710 Princlpal offlco The Mosque Holmanleaze Maidenhead SL6 8AW Berkshlre Tho trustees Saghir Ahmed Salld All Khan Abld Bhatti Mohammed Riaz Choudhary Mohammed Riaz Zia Mahludln Arif Mahmood Waheed Azam Muhammad Artf Butt Company secTetsry Saghlr Ahmed Audltor Almas Consultlng Ltd TIA Meridian Inslght Accountants & Slalulory Auditors Unit 15A, Slough Business Park 94 Farnham Road Slough Berkshlr9 SL13FQ structurol governance and management The Chsrfty Is run bylhe Executive Committeewhich Is assisted by afurther12 members sub-committeè who are responsible for varlous section5 of the charlty affalrs i.e. Bulldings, Educatlon, Events. Fundralslng, Maintenance. Womenlsisters and Youth. The sub-committees reporl backtothe Executlve Commlltee al tha monthly meetlng.
Islamic Trust (Maidenhead) Trustees, Annual Roport{eontinugdJ Year 6nd6d 31 March 2024 Objects'ves and activlties W8 have referred to the guldanc8 contain6d in th8 Charity Commlsslon's general guidance on publlc benefll when revlewing our aims and obJectives and In plannlng our future activities. Thg objects of the charlty are to provide facilities and provision of worshlp for the Muslims practlclng the religion of Islam In Maldenhead and education and teachings of the Quran and Sunnah of the Prophet Muhammad (PBUH) as well as Ihe splritual dev8lopmenl and support lo the communlty. Providlng leadershlp and guldance In enabling Muslims of all ages and genders lo observe and practlce the Muslim religion In Its true spirit. The financlal year 2023 began in the second Ashra of the holy month of Ramadan 1444, The mosqu6's actlvitl8s durlng this lime Included Taraweeh prayers, Iftars provlded to worshippars. and addltional classes such as Tafseer ul Quran, which w8re offered to bolh men and women lo meet the Spirttual needs of the comrnunily during Ihls sacred month. Due to Ilmlted space, as the constructlon of the new Islamlc Centre began In early 2023, two large marquees were in51alled on the mosque ground5 to accornmodale the Increased numberof worshippers attending durlng Ramadan along wlth support education classes. Mosque Vlslts Maldenhead Mosque continues lo recelve regular vlsitors from across the Thames Valley area, Including schools, Scout groups, and faith-based organisatlons, many of which vlsll as parl of thelr School currlculum or lo fulfil faith badge requirements. The Islamlc Trust has malnlained strong relatlonships with various organlsations, Including WAMCF, SACRE, and One Borough. From April 2023 to March 2024, the number of vlsllors rose significantly, with 1,500 81tendees from 40 organlsations-a con$lderable increase compared to the pr8VIOU8 year. Annual Gatherlngs Throughout the year, several events have tsken place, monthly Zikr gatherlngs, discourses on Haji and Qurbani, and Ihe annual gatherings for Muharram, Mawlld, Glyarween, and Isra w81 Ml'raj. Th8S8 events were well attended by the communlty, and many were broadcast on soGial medla for thoBe unable to attend in person. Educallon Report Our evening madrassah classe8, and Sunday school conllnue to provide hlgh-quallty Islamlc educatlon to over 335 chlldren, Teachers 8re offered continuous professlonal development to mainlaln the hlgh standard of educallon throughout our ¢1888e8. The currlculum for the evening madrassah consists of two key stages. Key Stage 1 focuses on learnlng the Qalda, while Key Stage 2 covars Quranlc studies along with supplementary subjects such as Flqh and Seorah. Each year consists ofthrae terrns, with regular parent evenlngs, end-of-lerm assessments, and an annual awards ceremony to recognlsa stud8nts' achlevem8nls, In 2023 our Sunday class Currfculurn now Included Arablc grammar lo help improve thelr understandlng of Quranlc Arabic. The Trust contlnues lo recognise the Importance of engaging chlldren In Islam1¢ education, partlcularly before Ihelr GCSES, Buildlng on the success of our Year 6 class, Introduced In 2021, Year 7 class commenced from 2023 whlch caters for Boys & Girls under tha age of 15. The Trust's Journey lo Jannah Group continues to run popular aclivllles such as wlnter and summer cubs, as well as the Fajr Jamaal challenge durlng the December school holidays, Adult classes In Islamic Fiqh and Quran ar& also hald throughout th8 year for both men and women, alongslde spiritual relreals for the community,
Islamic Trust (Maidenhead) Trustees, Annual Report{conUnued) Year 6ndod 31 March 2024 Other Activities Wotl( in conjunctlon wlth Thame5 Valley Heartbeat tharity, The trust Installed a Deflbrillator on the mosque site which is suitable for both adults and children which was important wlth large number elderly and thlldren who vl8lt the mosque each day. Further worf(Ing with Thame8 Valley Heartbeat, Iralnlng was dellvered for key staff and communlty members to learn how lo use the defibrillator In an emergency. In 2023 the Trust worked with the national charlly Anthony Charlly Nolans on a swabbing campalgn to h8lp find a bon8 marrow match for a young chlld in the community who had been affected by thls rear bone marrow disorder. To help Improve the health of the communty, several initiatives were workgd on durlng the cours8 of the yoar includlng: Mental Health Workshops to manage anxiety & depresslon, Cornmunily Bike and Walks for fitness Talks on th8 topic of Universal surg1i8s and developing patlence In difflcull tlmes. An emergency appeal had taken plac8 forthe Morocco earthquake whlch took place in September 2023 and the community donated generously along donating for Palestine Appeal afler the atrocrties taklng place in Pale3tine. Achievoment8 and porforniance The charlty holds fiv8 daily prayers and one or two Jumma prayers In Ihe Mosque. Extra Jumma prayer is held during School holidays and Ramadan to accommodate the extra attendees, It also holds 3 session8 of each annual Eld prayer. Traweeh prayers are hold during the month of Ramadan. The charity holds regular gatherings throughout the year to comm8morale slgnificant events In the Islamlc Calendar, Apart from the acllvitles staled above the ch8rily had other acllvlties as follows,.. 161amic Centre Project l Fundraising Since the constructlon work commenc8d in early 2023, the proJect work8 have been golng well wlth all structural works including the roof being completed by March 2024 wllh Ihe scaffoldlng expacted to be Installed by early Aprll 2024. The communlty has whole heartly been supporllng the new Islarnlc centre fundralslng campaigns run by the trust, donatlng generously throughout the year. The following fundralslng actlvllles had successfully been planned by the Trust: Jummah Hot food Sale5 Sales of Doughnuts, Sweets, Dales & Zamzam Water Car Washes run in April & May 2023 Yorkshlre Three Peaks Challenge Maidenhead 2 Paris Blke Ride Raffladan Buy a Brick campaign Charlty donatlons In R8madan Slsters Chand Raat event The whole communlty have donated generouslyto the new centre campalgn Including local buslnesses.
Islamic Trust (Maidenhead) Trustses. Annual Report fconflnugd) Year ended 31 March 2024 Flnanclal revlew Financial results of th8 Charity are shown on tha Statement of Financlal Aclivities page 10. The Trustees conslder thal there are sufficlent fvnds held by the Charlty lo enable them to carry out the charliy activities. Plans forfulure perlods The upcoming year will bring new challenges, especlally due to the Ilmil8d spac8 and parking In the area. However, we ar8 presented with an exciting. onc@-in-a-lif8time opportunlly to croate a new, purpos8-built centre that wlll setve the Maidenhead Community for years to come. This new facility will allow us to expand and enhanGe the services we offer, including a community library, extended prayer areas, funeral and remembrance spaces, and improved education and exercise facilltles. The trustees, annual report wa5 approved on 3 January 2025 and signed on behalf of the board of Iruslees by., Sajld All Khan Trustee
Islamic Trust (Maidenhead) Trustees. Responsibilities Statement Year ended 31 March 2024 The Iruslees are responsible for preparing the trustees, report and the financlal 5tatement5 in accordance with appllcable law and United Kingdom Accountlng Standards (United Kingdom Generally Accepted A¢countlng Practice). The law applicable to charities In England and Wales require3 the charity trustees to prepare financial statement5 for each year whlch give a true and fair vi8w of the state of affairs of the charlty and of tho incoming resources and application of resources, of the Charlly for that period, In preparlng these flnanclal slatemenls, tha trustees are required to.. Select sullable accounting poli¢ies and then appty them consi8lenlly', observe the methods and prlnclple8 In the applicable Charitles SORP; make Judgments and accountlng estimates that are r9a8onable and prudent. prepare tho financial statements on the going concern basis unless it is inapproprlate to presurne that the charity will contlnue in buslness. The trustees are responsible for keeplng adequate accountlng records that are sufficianl to show and explaln the charity's transactions and dlsclose with reasonable accuracy at any 1Sm8 Ihe financlal posillon of the Charlty and @nable them to ensure that the flnancSal statements comply wlth the Charities Act 2011, the applicable Charllles (A¢counts and Reports) Regulations. 8nd the provlslons of the Trust De8d. They are also responsible for safeguarding the assets of the charlly and hence for taklng re880nable steps for the prevention and delection of fraud and other irregularltles.
Islamic Trust {Maidenhead) Independent Audltovs Report to the Members of Islamic Trust (Maidenhead) Year ended 31 March 2024 Oplnlon I have audlled the flnanclal statements of Islamic Trust (Maldenhead) (the 'charily'l for the year ended 31 March 2024 which comprise the slalemenl of financial activitie8, Statement of finan¢lal position and the fBlated notes, including a summary of significant ac¢ountlng policies. The financlal reporting framework that has been applied in their preparation Is appllcable law and United Kingdom AGcountlng Standards, including FRS 102 The Financlal Reportlng Standard applicable in the UK and Republic of Ireland (United Kingdom G8nerally Acceptecj Accountlng Practlce). In my obinion the financial statements: glve a Irue and fair view of the state of the charily's affalrs as at 31 March 2024 and of its Incomlng resources and application of reSoUrs. including 51$ Income and expendilure, for the year then ended,, have been properly preparod in accordance wllh Unlled Klngdom Generally Accepted Accounting Practice., have been prepared In acwrdance with the requlrements of the Charllles Act 2011. Basls for oplnlon I conducted my audit In accordance wlth International Standards on Auditlng (UK) IISA8 (UK)) and applicable law. My responslbillti8s undèr Ihose Standards are further descrlbed In the audltor's responslbllities for the audit of the financial slalements se¢llon of my report. l am Independent of the charity In accordance with the ethlcal requlr6ments that are relevant to my audit of the financlal slalemenls in the UK, including the FRC'S Ethical Standard, and I have fulfilled my other ethical responsibllilles In accordance with these requirements, I belleve that the audlt evldence I have obtalned Is sufficlenl and appropriate lo provlde a basis for my oplnlon, Conclusions relatlng to going concem In auditing the finandal statements, I have concluded that lh8 trustees, use of the golng concern b881s of accounting in the pr8paralion of the financial statements Is approprlale. Based on the work I have performed, I have not identified any material uncertalnlles r8lating to events or conditions that, Indlvldually or collectively, may cast signlflcanl doubl on tho charlty's ablllly to conllnue as a golng concern for a period of at least twelve months from when the financlal statements are authorlsed for Issue. My responslbili118s and the re8ponsibilitl8s of the Iru8tees with respect to going concem ar8 dascribed In the relevant Sections of thls report.
Islamic Trust (Maidenhead) Independent Auditor's Report to the Members of Islamic Trust (Maidenhead) (conf1e) Year ended 31 March 2024 other Infom)alion The other information comprises th8 information Included In the annual report, other than the financlal stalements and my audilor's report thereon. The trustees are responslble for Ihe other Information. My opinion on the finandal statements does nol ¢over the other infomialion and, except to the extent otherwise expll¢llly stated in my report, I do not expr8ss any form of assurance concluslon thereon. In connection wlth my audlt of the flnancial statements, my responslbility is to read th6 Other Informatlon and, In doing so, conslder whether the other infotination is materlally inconsistent wllh the financial 8tat@ments or my knowledge obtained in the audlt or otheNlse appears lo be materlally mlsstal8d. If I idenllfy such matorlal Inconsistencies or apparent material mlsstal8ments. l am requir@d lo determlne whether there Ss a malerial mlsstatement In the financial statements or a material misslaternent of the other informatlon. If, based on the wotl( I have performed, l Conclude that there 15 a materlal mlsstatemenl of this other informatlon, l am required to report that fact. I have nothing to report In this rogard. Matters on which l am requlred to report by excoption In the light of the knowledge and und8rstanding of the charity and Its environmenl oblalnod In the course of the audit, I have not identified malerlal misstatements In the trustees, report. I have nothlng to report in respect of th8 following matters In relatlon to whlch th8 Charfties Act 2011 requires me lo report to you if, in my oplnlon: lh8 informatlon given In the trustees, report Is Inconsistent in any material respect wlth the flnancial statements,, or adequate accountlng records have not been kepi,. or the fSnanclal statements are not In agreement wllh the accounting records and returns; or I havo not r8¢elved all the Information and explanallons I requlre for my audlt, Re8pon81bilitios of trustees As explained more fully In the trustees, responsibllltles statement, the trustees are re8ponslble for the preparation of the financial statements and for beSng satisfied that they give a true and fair vlew, and for Such Internal conlrol as the trustees determln8 is nec8ssary to enable the preparation of flnancial statements that are free from malerlal mlsstatement, whether due to fraud or error. In preparlng the financial statements, the trustees are responslble for assesslng the charltls ability to continue as a going concern, discloslng, as applicable, matters related lo golng concem and using the golng ¢on¢em basls of accountlng unless the trustee8 ellher Intend to Ilquidal8 tha charlly or to cea8e operallons, or have no realistlc alternative but to do so.
Islamic Trust {Maidenhead) Independent Auditor's Report to the Members of Islamic Trust (Maldenhead) (contsnuerl) Year ended 31 March 2024 Audltorfs responsibllitles for the audlt of thg financlal statements My oblectlves are lo obtain reasonable assurance abolrt whether the financlal stalemants as a whole are fre8 from m8terial misstatement, whether due to fraud or error, and to Issue an auditor's report that Includes my opinlon. Reasonable assurance is a hlgh level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS (UK> wlll aEways detect a material mlsstatem@nl when It exlsts. Misstatements can aris8 from fraud or error and are considered material if, indlvidually or in the aggregate. they could reasonably be expected to Influen the economlc decislons of users taken on the basis of these financial statements. Irregularitles, In¢ludlng fraud, are instances of non-compllance with laws and regulations, I deslgn proc8dures in line with my responslbllities, outlinod above, to detect malerial misslatemenls in respecl of irregularitie8, inciuding fraud. The ext6nl to which my procedures arg capable of d8lecting rregularities, Includlng fraud is d8tailed bélow.. Irregularities, including fraud, are instances of non-compllan¢e with laws and regulations. We design procedures In line wlth our responsibllltles, outlined abovo, to detect material misslalemenls in respect of Irregularities, Includlng fraud. A further descrlption of our respon51bilities for the audit of the accounts is available on the Financial Reportlng Council's website at www.fr¢.org.uklaudilorsr88ponsibllltles. This descrlpllon forms part of our auditor's report. As part of an audlt In accordance with ISA8 (UK), l exer¢i8e professlonal Judgment and maintain professional sceptlclsm throughoul the audit. l also.. Identify and assess the rlsks of materlal misslatemenl of the financlal Statements, whether due to fraud or error, deslgn and perform audit proc8dures responsive to those rlsks, and obtain audit evidence that Is sufficlenl and appropriale to provlde a basls for my oplnlon, Th8 rlsk of not detecting a material mlsstatemenl resulting from fraud Is hlgher than for one roBulting from error. as fraud may Involve collusion, forgery. int8ntional omlsslons, mlsrepresenlatlons, or the overrid8 of internal control. Obtaln an understanding of Internal control relevant to the audtt in ord8r to deslgn audit procedures that are approprlate in the drcumstanc8s, bul not for the purpose of expresslng an opinion on the 8ffectivene$8 of the intemal control. Evaluate the appropriateness of accountlng policies used and the reasonableness of accounllng estimates and related disclosures made by the trustees, Conclude on the appropriateness of the Iruslees, use of the going concern basis of accounting and, based on th8 audit evidence cbtained, whether a material uncertainly exlsts related lo events or conditions that may cast slgnlficant doubl on the charity's ablllty to continue as 8 going concem. If I conclud& that a materlal uncerlalnty axisls, l arn requlred to draw altentlon in my auditor's report to the related disclosures in the flnancial statements or, If such disclosures are Inadequate, to modify my oplnlon. My conclusions are based on the audit evldence oblalned up lo the date of my audllor's report. However, future events or Gondlllons may cause the charity to cease to oonlinu8 as a going concern. Evaluate the overall presentation, struciure and Content of the financlal slatemenls, Includlng the disclosures, and whether the financial slatements represent the underlylng transactions and events in a manner that achleves falr presentation,
Islamic Trust (Maidenhead) Independent Auditor's R6port to the Members of Islamic Trust (Maidenhead) (contin(Jed) Year ended 31 March 2024 I communicate wilh those charged with governance regarding, among other matters, the planned scope and timing of the audit and signrficant audit findings. including any significant deficiencies In internal control that I Identity durlng my audit. Use of my report This report is made so161y to the Charity's members, as a body, in accordance with section 144 of th8 Charlties Act 2011 and regulatlons made under section 154 of that Act. My audit work has been undertaken so that I might slale to the charltys m8mbers thos8 mallers l am required to state to them In an auditorfs report and for no other purpose. To the fullest extent pemiitled by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's members a8 a body, for my audlt work, for thls reporl, or for the opinion61 have formed. Bilal Amln Senlor Statutory Audltors Almas Consulllng Ltd TIA Meridian Inslght Accounlanls & Stalulory Auditors & statutory audllor Unit 15A, Slough Business Park 94 Farnham Road Slough Berkshire SL13FQ 3 January 2025
Islamic Trust (Maidenhead) ststement of Financial Activities Year endod 31 March 2024 2024 Restricted nds Total funds Total funds 2023 Unreslrl¢ted funds Note Income and endowments Donations 374,225 374.225 336,945 711,170 711,170 422.218 422,218 Total Income 336,945 Exponditure Expenditure to relieve poverty.. Charitable payments Governance costs Other expenditure Total expenditura 29,198 29,198 151,054 28,450 139,598 7,487 175,535 151,054 151,054 29,198 180.252 Net Income 223,171 307,747 530,918 248,683 Transfers belwaen fund8 1,185,730 (1,185,730) Net movement In fund8 1,408,9J1 (877,983) 530,918 246,683 Recon¢lllation of funds Total funds brought fOard Total funds carrled fOard 1,914.239 1,605,632 727,649 3,519,871 4,050,789 3,273.188 3,323,140 3,519,871 The statement of flnanclal actlvltles Includes all galns 8nd losses recognlsed In Ihe year, All Income and 8xpenditure deriv8 from contlnulng activit18S. The notes on pages 12 to 17 form part ofthosg flnanclal 8tatements. 10
Islamic Trust (Maidenhead) Statement of Flnancial Position 31 March 2024 2024 2023 Note Flxed assets Tangible fixed assets 12 2,461.052 1,286,350 Current assets Debtors Cash al bank and in hand 13 5.080 1,800,367 1,605.447 3,188 2,262,983 2,266,171 Crgditors: amounts falllng dug wlthin one year Net Current assets 14 1S,710 32,850 2,233,521 1,589.737 Total assotg loss current Ilabllltl88 4,050,789 3,519,871 3,519,871 Ngt assets 4,050,789 Funds of tho charlty Restricted funds Unrestricted funds 727,649 3,323,140 4,050,789 1,605,632 1.914,239 3.519,871 Total charlty fund8 16 These financial statements werè 8pproved by the board of trustees and aulhorlsed for Issue on 3 January 2025, and are signed on behalf of th8 board by: Abld Bhatti TNgtoo The notes on pages 12 to 17 form part of these flnanclal stat&ments. 11
Islamic Trust (Maidenhead) Notos to the Financlal Ststoments Year ended 31 March 2024 Genoral inforniatlon The charity is a public b@nafit entity and a reglslered Gharity In England and Wales and is unincorporated. The address of the principal office is The Mosque, Holmanleaze, Maidenhead, SL6 8AW. Berkshire. statement of Compliance These flnancial statements h8va been prepared In compllance wlth FRS 102, The Flnancial Reporting Sland8rd appllcable in the UK and the Republic of Ireland,, the Statement of Racommended Practice applicable to charllles preparlng their accounts In accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102) {Charitie$ SORP {FRS 1021) and the Charftles Act 2011. Accountlng pollcle$ lal Basis of preparatlon The financlal statements have been prepared on the historlcal cost basls, as modified by the revaluatlon of ¢ertain financlal assets and liabllitles and investment properties measured at fair value through Inwme or expendllure. The financial statements are prepared In sterling, which is the functional currency of the entlty, (bl Golng concern There are no materlal uncertalnties about the charity's abilrty lo continue, {cl Dl8clo8ure exemptlons The enllty Satisfies the criterla of belng a quallfylng entity as deflned in FRS 102. As such, advantage has been taken of the followlng di8¢108ure exernption available under paragraph 1.12 of FRS 102,. {a> No cash flow stalem8nl has been pres8nted for the company. Idl Judgements and key 8ource9 of estlmatlon uncertainty The preparaUon ofthe Ilnanclal statements requlres management to mak8 judgements, estlmales and a88umptlons Ihat affect the amounts reported. These estlmates and Judgements aré continually revlewed and are based on experience and other factors. Includlng gxpectallons of future events that are belleved to be rea80nabl8 under th8 clrcumstances, {8) Fund accountlng Unr8striclod funds ar8 available for u3e al the discrellon of the tnJst86S to further any of the charlty's purposes, De51gnated funds are unrestricted funds 8arm8rked by the trustees for particular future project cr commltment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through Ihe terms of an appeal, and fall into one of two sub-classes.. restrlcted income funds or endowment funds, 12
Islamic Trust (Maidenhead) Notes to the Financial Statements (contlnijed) Year ended 31 March 2024 Accountlng pollcies (contlnu8rf1 {fj Incomlng resources All incoming resources are included In the statement of financial activitle8 when enlltlement has passed lo the charity: it is probab18 that the economlc benefits assoclated wilh the transaction will flow to the charity and the amount can be reliably measured. Tho following specific polides are applied lo particular categories of income,. income from donations or grants Is r8cognised when there is evldence of entitlement to the glft, recelpt Is probable and ils amount Gan be measured reliably. legacy income Is recognised when receipt Is probable and entitlement Is establlshed. income from donated goods Is measured al the falr value of the goods unless thls Is impracllcal to measure reliably, in whl¢h case the value Is derfved from the cost to the donor or the estlmated résale value. Donated facllllles and servlces are recognlsed in the accounts when received If the value can b8 reliably measured. No amounts are Included for the conlrlbutlon of general volunteers. Income from conlrac15 for the supply of services Is recognlsed with the delivery of the contracted servlce. Th18 Is classified as unrestrictod funds unless there Is a contractual requlrement for it to be spent on a particular purpose and returned rf unspent. In whlch case It may be regarded 8$ re8trict8d. (gl ResourGO8 expendod Expenditure is recogn18ed on an accrual8 basis as a liability is incurred. Expenditur8 includes any VAT which cannot be fully recovered, and is Glassffled under headings of the slat8ment of financial aclivllies to whlch it relate8', expendtture on raislng funds Includes the costs of all fundralslng activitles, ev8n18, non- charitab18 tradlng actlvlt5es, and the sale of donated goods. expendlture on charltable aclivltles includes all costs incurred by a Charlty In undertaking acllvltles that further ils charllable aiins for the benefit of Ils beneflclarles, includlng those support costs and costs relatlng lo the governance of tha charity apportioned to charitable aclivlti8S. other expendllure Includes all expendltur8 that is neither related to ralslng funds for the charlty nor parl of ils expendilura on charitable actlvltles, All costs are allocated to expenditure categories refleIng the use of the resource. Dlrect costs attributable lo a slngle actlvily are allocated direclly to that acllvity. Shared wsts are apportloned between tha activltles they conlrlbul8 lo on a rea80n8bl8, justlfiable and conslstent basis. Ihl Tanglble assets All fixed ass8ls are Inltially recorded at C05t, 13
Islamic Trust (Maidenhead) Notes to the Financial Statements (condnued) Year ended 31 March 2024 Ac¢ounllng poll¢les {contlnuedJ {11 Dopreclatlon Depreclalion is calculated so as to write off the cosl Dr valu8llon of an asset, less ils resldual value, over the useful economlc Ilf8 of that asset as follows,. Buildlng cost excludlng land Flxtur8s, fittings & equlpment Motor vehl¢le8 Over 150 yaars 150A reducing balance 15% reducing balance Ul Impaimignt of flxed assets A review for Indicators of impaimient is carrled out at each reporting date. wlth the recoverable amount being estimaled where such indicators exist. Where th@ carrying value exceeds the recoverable amount, th& asset is Impalred ac¢ordlngly. Prior Impalrments are also revlewed for pos$lble reversal al each reporllng date. For the purposes of Impairmont testing, when11 Is nol possible to estimale the recoverable amounl of an Indivldual asset, an estimate Is made of the recoverable amount of the cash-genorating unlt lo whlch the as3et belongs. The cash-generatlng unit Is the smallest Identiflable group of assets that Includes th6 asset and generates cash Inflows that largely independent of the cash Snflcws from other assets or groups of ass81s. For Impairment testing of goodwill, lh8 goodwlll acqulred In a bu8lness Combination Is, from the acquisition dale, allocated to each of the cash-g6n8rating units thal are expected to benefll from the synergles of the comblnalion, Irrespective of whether other a8S8t$ or Ilabilities of the charity are asslgned to those unlts. Donatlons and legacios Unrestricted Funds Restrlcted Totsl Funds Funds 2024 DOnaon8 Publlc general donation8 Z8kal, fftrana 8nd appea15 income 358,425 15,800 374,225 323,551 13,394 681.976 29,194 711,170 338,945 Unreslrlcted Funds Reslrlcted Total Funds Funds 2023 Donatlons Publlc general donatlon5 Zakat, filrana and appe81s Incoma 308,793 86,895 28,530 115,425 393,688 28,530 422,218 3IX.793 Expendlture on relleve of poverty R8slricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Zakat, fitrana and appeals pald out 29,198 29,198 28,450 28,450 14
Islamic Trust (Maidenhead) Notes to the Financlal Statements (contlnugd) Year ended 31 March 2024 Expenditure on charlty actlvltles Support Totsl funds costs 2024 Total fijnd 2023 Governance costs 151,054 151,054 139.598 Other expendlture Unreslrlcted Total Funds Unrestrlcted Tolal Funds Funds 2024 Funds 2023 Loss on dlsposal of tanglble fixed assets held for charlty's own use 7,487 7.487 Net incomo Nel income Is stated after charging1(crediling)'. 2024 2023 Depreclalion of tanglble fix8d assgls Loss on disposal of tangible fixed a53ets 9,294 7,676 7,487 Audltor3 rgmuneratlon 2024 2023 Fees payabl8 for the audit of the financial stalements 4,800 4,8QO 10. Staff costs Th8 lotal staff costs and employee benefits for Ihe reportSng perlod are analysed 8s follows.. 2024 2023 Wages and salaries Soclal security costs 25,000 563 25.000 563 25,663 25,563 The averag6 head count of amployees during the year was 112023.. 11, No employee receiv6d employee benefits of more than £60,000 during the year12023: Nill, 11. Trustee remuneratlon and exponso9 No remuneration or other b8neflts from employment with the charity or a related entlty were recetved by the trustees. 15
Islamic Trust (Maidenhead) Notes to the Financlal Statements (conunuedj Year ended 31 MarGh 2024 12. Tanglble flxed assets Land and Flxtures and buildings fittlngs Total Cost At 1 April 2023 Additlons 1,284,797 1,169,126 76,495 14,870 1,361.292 1,183,996 2,545,288 At 31 March 2024 2,453,923 91,365 D8pre¢latlon Al 1 Aprll 2023 Charge for the year At 31 March 2024 21,570 3,595 53.372 5.699 74,942 9,294 84,236 25,185 59,071 Carrylng amount At 31 March 2024 2,428,758 1,283,227 32.294 2,461.052 1,286,350 Al 31 March 2023 23,123 13. Debtor8 2024 2023 Prepayments and accrued Income other debtors 3,390 1,690 5,080 3,188 3,188 14. Credltors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accrua18 Social security and other taxe8 Other creditor8 7,952 4,800 109 2,849 15,710 21,243 4,800 1,103 5.504 32,650
Islarnic Trust (Maidenhead) Notes to the Financlal Statements fcontlnuedj Year 6nded 31 March 2024 15. Analys18 of charltable funds Unr8strlcted funds At 31 MarGh 20 24 At 1 Aprll 2023 Income Expendlture Transfers General funds 1,914,239 374,225 (151,0541 1,185.730 3,323,140 At 31 March 20 23 At 1 April 2022 Incomo Expendltur8 Transfers General funds 1,724,898 306,793 1147,085) 29,633 1,914,239 Re8trlcted funds Al 31 March 20 24 Al 1 April 2023 Income Expenditure Transfers Restricted Fund 1.805,632 336,945 (29,198> (1,185.730) 727.649 At 31 March 20 23 At 1 Aprll 2022 IncomB Expenditure Transfers Restricted Fund 1,548,290 115,425 128,450) (29,833} 1,605.832 16. Analy$ls of net a88ets beon funds Unrestrlcted Funds Restricted Total Funds Funds 2024 T8nglble fixed assets Current assets Creditors less than 1 y&sr Nat assets 2,461,052 877,798 (15,710) 3,323,140 2,461,052 1,605,447 115,7101 4,050,789 727,649 727,649 Unrestrlcted Funds Re6trIcted Total Funds Funds 2023 Tangible red assets Current assets Creditors less than 1 year Net assets 1,286,350 660,539 132.650} 1,914,239 1,286,350 2,266.171 {32,650) 3,519,871 1,605,632 1,605,632 17
Islamic Trust (Maidenhead) Management Information Year ended 31 March 2024 The followlng pages do not forni part of th6 flnanclal 8tatement$. 18
Islamic Trust (Maidenhead) Datailed Statement of Financial Actlvitles Year ended 31 March 2024 2024 2023 Income Donatlons Public general donatlons Zakat, fitrana and appeals Income 681,976 29,194 711.170 393,688 28.530 422.218 Total In¢omo 711,170 422.218 Expgnditure Costs of poverty rellef Zakat. fitrana and appeals paid out 29,198 28,450 Expendlture on charltablo activltl88 Wages and salaries Empk)yer's pension Prem15es costs Audit faos. consultancy and freelance costs Costs of events and activiti88 General expense8 Depredallon Bank Interest payable and slmllar charges Repairs and maintenance Insurance Telephone and IT Printing, p08tage and Stationery 25,000 563 24,087 57,536 22,840 806 9,294 821 1,435 5,609 969 2,294 151,054 25,000 563 23,227 83,117 12,985 1,900 7,676 271 (2,859) 5,440 919 1,359 139,598 other gxpondlture Loss on disposal of tanglble fixed assets hald for ¢harlty'8 own use 7,487 Total expendlture 180,262 175,535 Net Income 530,918 246,e83 19