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← Islamic Educational And Recreational Institute

2024-12-31-accounts

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

UNAUDITED FINANCIAL STATEMENTS

FOR

31 DECEMBER 2024

Charity Number 1050898

CONTENTS PAGE
Members of the Board and professional advisers 3
Trustees Annual Report 4
Independent examiner's report to the trustees 10
Statement of financial activities (incorporating the income and
expenditure account)		 11
Statement of Financial Position 12
Statement of Cash Flows 13
Notes to the financial statements 14-23
The following pages do not form part of the financial statements
Detailed statement of financial activities 24-26

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Registered charity name Islamic Educational & Recreational Institute Charity number 1050898 Registered office 165 - 169 The Broadway Southall Middlesex UB1 1LR Trustees Mr. M Asghar Mr. A H Bhatti Mr. M A Khan Mr. M H Khan Mr. Z H Abbasi Mr. A A Khan Independent examiner FS Financial Services Limited 124 City Road London EC1V 2NX Bankers Lloyds Bank Station Road Harrow HA4 3EB

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Reference and administrative details

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

The Trustees

The trustees who served the charity during the period were as follows:

Mr M Asghar Mr A H Bhatti Mr M A Khan Mr M H Khan Mr Z H Abbasi Mr A A Khan

STRUCTURE and MANAGEMENT GOVERNANCE DOCUMENT

Islamic Educational & Recreational Institute (IERI) is constituted as a charitable Trust and was registered with the Charity Commission on 31[st ] October 1995, under the charity number 1050898. It is governed by a Deed of Trust.

ORGANISATIONAL STRUCTURE

The Trustees are responsible for the general control and management of the Institution.

The Trustees give their time freely and receive no monetary compensation or any other financial benefits.

The Trustees meet regularly, and also when specific needs arise. They are responsible for all decisions taken in relation to the running and maintenance of the Mosque, including the activities of the Institution.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

RISK MANAGEMENT

The Trustees assess the risks the Institute faces and continually try to mitigate any identified risks.

Fire Risk assessments are carried out, and the Fire Alarm system is monitored 24/7 with procedures to alert the fire services.

DBS criminal record checks for appropriate personnel are regularly processed and kept up to date.

The Trustees also ensure suitable insurance covers are maintained, and the Health and Safety regulations are met.

AIMS AND OBJECTIVES

The object of the Institution is set out in the Charity’s Trust deeds.

For the benefit of the inhabitants of Southall and surrounding areas in social, civic and cultural affairs.

The Trustees review these objectives regularly to ensure demands and needs of the community are met.

STRATEGIES

We ensure our Institution is a welcoming venue for all sectors of the Muslim community, as well as people of different faiths.

In accordance with the principles of Islam, we distribute Sadaqah, Zakat and Fitranah to the needy in the UK, and internationally (particularly Pakistan, India, Bangladesh, Africa, and other disaster-struck areas) to cover their basic needs of shelter, food, clothing and urgent financial support.

An important part of our strategy is community welfare and education. All of our community facilities and activities including classes, health initiatives and seminars welcome the participation of the local multi-faith community. Most of our activities are

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

free and supported by donations. Services are also provided by the NHS and the Fire Department to bring awareness to the community.

USE OF VOLUNTEERS

Volunteers play an important role in both our faith and community work. We have over 15 people regularly giving their time. We encourage all members of our Mosque to be involved in voluntary activities and to share skills with others.

GRANT MAKING POLICY

The Institution relies mainly on donations from the worshippers for various disaster appeals arising from natural calamities around the world, where fundraising and aid decisions are made by the Trustees.

The Institution also donates money to educational and welfare charities in those countries. Whenever possible, our Trustees personally oversee the distribution of funds in the affected areas. We work with partner organizations, when necessary, to identify the direness of the circumstances, and allocate the donations accordingly.

The donation procedure is strictly controlled by the Donation Request and Award approved by the trustees.

ACTIVITIES AND ACHIEVEMENTS

Means of Delivering Public Benefits

We have a wide range of activities in pursuance of charitable aims.

We believe that these activities mentioned below provide benefits to both the attendees of the Mosque and the wider community of Southall and surrounding areas.

We have started classes for martial arts classes for children and adults.

Religious Activities

Prayers

The Mosque is open daily from dawn till late for prayers. We estimate that around 400 people regularly attend daily prayers, and around 3,000 who attend Friday / Eid prayers.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Ladies Prayer Hall

Ladies’ prayer facilities are also provided in separate dedicated area, along with the essential ablution and toilet facilities. This facility not only serves the local worshippers but also to visitors alike.

Festivals and Events

The Mosque arranges special programs and events during the festival seasons. There are also special programs held in the Holy month of Ramadhan. Food is provided by the members of the community, for approximately 400 people daily, for Iftar (breaking of fasts) over a period of 30 days. Every year we also celebrate the birthday of our Holy Prophet (PBUH), namely Eid Milad-Un-Nabi, and other days of Islamic significance like Miraj-Un-Nabi, Lailatul Qadr (the Night of Power), and the event of Karbala.

Radio Transmission of Programs

Abu Bakr Mosque radio transmitters provide, Adhan, Prayers, Lectures and special events. Approximately over 800 households can enjoy and benefit from these programs in the comfort of their homes. Radio receivers are available to buy in our bookshop, which is located on the premises.

Nikah

Our Imams perform Nikah Ceremonies which are available to the local Muslim community.

Inter-faith Dialogue

The Mosque is an active member of the inter-faith group and also hosts such meetings when required.

Educational Activities: Ayesha Siddiqa Girls High School

An Independent secondary school for girls which was established in year 2007. It is a registered school complying with the Department for Education regulations. The full National Curriculum teaching is covered at this school.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

The last Ofsted inspection rated our school as ‘GOOD’. Our GCSE exam results are consistently above the national average in most subjects.

Principle funding sources

The Institutions’ main source of income is donations from both the attendees of the Mosque and the wider community. Donations are usually more significant on Fridays, during Ramadhan and during special festivals.

Our future plans

Trustees continue to devote more effort in the improvement and expansion of the services that the charity offers.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Financial Review

The charity's accounts for the 12-month period ending 31st December 2024 show an income of £672,839 and expenditure of £728,813. The Charity's income included Donation / collection of £339,989, School fee of £270,917 and Rental income of £57,096. The trustees are conscious that the money raised remains lower compared to the expenditure. However, the gap between costs relating to raising the funds and the funds raised has gone down as compared to last year.

The major part of expenditure is spent on salaries to all the staff. An amount of £450,125 was paid out as salaries. An amount of £95,188 was spent on Premises cost which included light, heating repair /maintenance, cleaning, rates/water. Compared to last year, repairs & maintenance figures are higher, as in 2024 repairs were required for the multiple areas including the dome, hall area and the property. An amount of £32,913 was spent on resources and school/madrasa activities to attain income. Other overhead charges such as insurance and depreciation to run the Mosque amounted to £88,473. A detailed break up of all the expenses is given under notes to the financial statements.

Reserves Policy

It is the charity’s policy to maintain a balance on unrestricted funds (if possible), which equates to at least one month’s unrestricted payments, equivalent to £65,000, to cover emergency situations that may arise from time to time. The balance of £2,543,341 held on unrestricted funds, at the year-end has met this requirement.

It is our policy to invest our funds balances on property or any low to moderate risk investments. All the investment decisions have to be authorized by all the trustees.

…………………………………….

M H Khan Dated: 25 October 2025 (On behalf of all of the Trustees) 165 - 169 The Broadway Southall Middlesex UB1 1LR

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Independent Examiner's Report to the Trustees of ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the Act). The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of the Chartered Certified Accountants (ACCA), which is one of the listed bodies.

I have completed my examination. I 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.

…………………………………….

FS Financial Services Limited Chartered Certified Accountants 124 City Road, London, EC1V 2NX

Dated: 25 October 2025

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Statement of Financial Activities Year Ended 31 December 2024

Notes
Income and Endowments
Donations and Legacies
4
Other Trading Activities
5
Investment Income
6
Other Income
7
Total Income
Expenditure
Expenditure on raising funds:
Cost of raising donations and legacies
8
Costs of other trading activities
9
Expenditure on charitable activities
10
Total Expenditure
Net (losses) / gains on investments
12
Net Income and Net Movement in Funds
13
Reconciliation of Funds
Total funds brought forward
22
Total Funds carried forward		 Amounts in GBP(£)
2023
Total
Funds
Total
Funds

339,989
252,991
270,917
281,699
57,096
53,630
4,837
0

672,839
588,320

26,936
64,757

0
0

701,877
646,543

728,813
711,300

0
0

-55,974
-122,980

2,763,795
2,886,775

2,707,821
2,763,795		 Amounts in GBP(£)
2023
Total
Funds
Total
Funds

339,989
252,991
270,917
281,699
57,096
53,630
4,837
0

672,839
588,320

26,936
64,757

0
0

701,877
646,543

728,813
711,300

0
0

-55,974
-122,980

2,763,795
2,886,775

2,707,821
2,763,795
2024 2023
Unrestricted
Funds		 Restricted
Funds		 Total
Funds		 Total
Funds
263,274
270,917
57,096
4,837
76,715
0
0
0
339,989
270,917
57,096
4,837		 252,991
281,699
53,630
0
596,124
76,715		 588,320
0
0
701,877
26,936

0

0
26,936

0

701,877		 64,757
0
646,543
701,877
26,936
0
0		 711,300
0
-105,753
49,779		 -122,980
2,649,094
114,701		 2,886,775
2,543,341
164,480		 2,763,795

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Statement of Financial Position Year Ended 31 December 2024

Statement of Financial Position
Year Ended 31 December 2024
£ £ £
Fixed Assets Note 2024
2023
~~rs~~
Tangible fixed assets
Investments		 16
17		 1,708,167
1,785,613
832,500
832,500
~~I~~
2,540,667 2,540,667 2,618,113 2,618,113
Current Assets
Stocks 18 2,350 2,350 2,350 2,350
Debtors 19 0 0 0 0
Cash at bank and in hand 20 251,366 366 233,815 815
253,716 253,716 236,165 236,165
Creditors: falling due within one year 21 86,562 562 90,483 483
Net Current Assets 167,154 167,154 145,683 145,683
Total Assets less Current Liabilities 2,707,821 2,707,821 2,763,795 2,763,795
Funds of the Charity
Restricted funds
Unrestricted funds
Total Charity funds		 22 164,480
114,701
2,543,341
2,649,094
2,707,821
2,763,795
~~=~~

These financial statements were approved by the board of trustees and authorised for issue on 25 October 2025.

Trustee (On behalf of all of the Trustees)

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Statement of Cash Flows Year Ended 31 December 2024


Note
Cash flows from operating activities
Net Income
Adjustments:
Depreciation of tangible fixed assets
Net (losses) / gains on investments
Dividend, interest and rents from investments
Interest payable and similar charges
Gains on disposal of program related investments
Net Changes:
Stocks
Trade and other debtors
Trade and other creditors
Cash generated from operating activities
Interest paid
Net cash from operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of tangible assets
Proceeds from sale of social investments
Proceeds form sale of other investments
Net cash (used in) / from investing activities
Cash flows from financing activities
Proceeds from borrowings
Net cash used in financing activities
Net (decrease) / increase in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents at end of the year		 £
2024
-55,974
77,446
0
-57,096
0
0
20,350
0
0
-1,921
-1,921
-37,545
0
-37,545
57,096
0
0
0
57,096
-2,000
-2,000
17,551
233,815
251,366		 £
2023
-122,980
86,530
0
-53,630
549
0
33,449
0
30,000
-56,083
-26,083
-115,614
-549
-116,163
53,630
0
0
0
53,630
-800
-800
-63,333
297,148
233,815

20

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

1 General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 165-169 The Broadway, Southall, Middlesex, UB1 1LR

2 Statement of Compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in Sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Building improvements - 12% reducing balance
Fixtures & Fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Equipment - 25% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate,in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

4
Donation and Legacies
Donation and Legacies - Unrestricted funds
Donations and collections
Madrasa collections
Nikah registration fee
Total Donation and Legacies - Unrestricted funds
Donation and Legacies - Restricted funds
Donations - relief fund
Total Donation and Legacies - Restricted funds
Total Donation and Legacies		 £

2024
192,511
67,223
3,540
263,274
76,715
76,715
339,989		 £
2023
165,505
61,029
3,360
229,894
23,097
23,097
252,991

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

5
Other Trading Activities
Other Trading Activities - Unrestricted funds
Book shop income
School Fees
Total Other Trading Activities - Unrestricted funds
Total Other Trading Activities - Restricted funds
Total Other Trading Activities
6
Investment Income
Investment Income - Unrestricted funds
Income from investment properties
Total Investment Income - Unrestricted funds
Total Investment Income - Restricted funds
Total Investment Income
7
Other Income
Other Income - Unrestricted funds
Tax recovered under Gift Aid Scheme
Total Other Income - Unrestricted funds
Total Other Income - Restricted funds
Total Other Income
8
Cost of Raising Donations and Legacies
Cost of Raising Donations and Legacies - Unrestricted funds
Donations - other motor / travel costs and collections
Donations - other cost
Total Cost of Raising Donations and Legacies - Unrestricted funds
Cost of Raising Donations and Legacies - Restricted funds
Donations - other cost
Total Cost of Raising Donations and Legacies - Restricted funds
Total Cost of Raising Donations and Legacies		 £
2024
0
270,917
270,917
0
270,917
£
2024
57,096
57,096
0
57,096
£
2024
4,837
4,837
0
4,837
£
2024
0
0
0
26,936
26,936
26,936		 £
2023
0
281,699
281,699
0
281,699
£
2023
53,630
53,630
0
53,630
£
2023
0
0
0
0
£
2023
0
0
0
64,757
64,757
64,757

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

9
Cost of Other Trading Activities
Cost of Other Trading Activities - Unrestricted funds
Book shop costs - opening stock
Book shop costs - purchases
Book shop costs - closing stock
Total Cost of Other Trading Activities - Unrestricted funds
Total Cost of Other Trading Activities - Restricted funds
Total Cost of Other Trading Activities
10
Expenditure on Charitable Activities by Fund Type
Expenditure on Charitable Activities by Fund Type - Unrestricted funds
Expenditure - Unrestricted Funds
Total Expenditure on Charitable Activities by Fund Type - Unrestricted funds
Total Expenditure on Charitable Activities by Fund Type - Restricted funds
Total Expenditure on Charitable Activities by Fund Type
11
Expenditure on Charitable Activities by Activity Type
Activities undertaken directly
Total Expenditure on Charitable Activities by Activity Type
12
Net (losses) / gains on Investments
Net (losses) / gains on Investments - Unrestricted funds
Gains / (losses) on Other Investments
Total Net (losses) / gains on Investments - Unrestricted funds
Total Net (losses) / gains on Investments - Restricted funds
Total Net (losses) / gains on Investments		 £
2024
2,350
0
-2,350
0
0
0
£
2024
701,877
701,877
0
701,877
£
2024
701,877
701,877
£
2024
0
0
0
0		 £
2023
2,350
0
-2,350
0
0
0
£
2023
646,543
646,543
0
646,543
£
2023
646,543
646,543
£
2023
0
0
0
0

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

13
Net Income
Net Income is stated after charging / (crediting):
Depreciation of tangible fixed assets
Total Net Income
14
Staff Costs
Wages & Salaries
Social Security Costs
Total Staff Costs
Average headcount of employees during the year		 £
2024
77,446
-55,974
£
2024
430.588
19,537
450,125
32		 £
2023
86,530
-122,980
£
2023
392,157
17,032
409,189
30

During the year, no employee received employee benefits of more than £60,000.

15 Trustee Remuneration and Expenses

During 2024, the Charity remained under the control of Trustees and Management Committee members as listed on page 3. None of the trustees or management committee members were remunerated or paid any expenses.

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ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

16
Tangible Fixed Assets
Land and Buildings
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Land and Buildings at the end of the period
Fixtures & Fittings
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Fixtures & Fittings at the end of the period
Equipment
Cost at the start of the period
Additions / deletions during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Equipment at the end of the period
Total Assets
Cost at the start of the period
Additions during the period
Deletions / disposals during the period
Cost at the end of the period
Accumulated Depreciation at the start of the period
Deletion / Disposals for the year
Depreciation charge for the year
Accumulated Depreciation at the end of the period
Net carrying amount of Total Assets at the end of the period		 £
3,872,380
0
3,872,380
2,095,384
75,292
2,170,676
1,701,704
87,451
0
87,451
82,253
1,299
83,552
3,899
45,223
0
45,223
41,803
855
42,658
2,565
4,005,053
0
0
4,005,053
2,219,440
0
77,446
2,296,886
1,708,167
2024		 £
2023
3,872,380
0
3,872,380
2,011,726
83,658
2,095,384
1,776,996
87,451
0
87,451
80,520
1,733
82,253
5,197
45,223
0
45,223
40,664
1,139
41,803
3,419
4,005,053
0
0
4,005,053
2,132,910
0
86,530
2,219,4
1,785,613

Land and buildings include freehold land. Depreciation is not charged on freehold land amount £1,024,076

-22-

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

17
Investments
Investment property
Cost at the start of the period
Additions / deletions during the period
Fair value movements
Impairment
Net carrying amount of Investment property at the end of the period		 £
2024
832,500
0
0
0
832,500		 £
2023
832,500
0
0
0
832,500

All investments shown above are held at valuation.

Investment properties

Valuation of investment property provided by trustees confirmed by online means. No change in year indicated.

18
Stocks
Raw materials and consumables
19
Debtors
Other Debtors
20
Cash & Cash Equivalents
Cash and cash equivalents comprise of the following:
Cash in hand
Cash at Bank
Bank overdrafts
Total Cash & Cash Equivalents at the end of the period
21
Creditors: amounts falling due within one year
Creditors falling due within a year comprise of the following:
Bank loans, loans and overdrafts
Social Security and other taxes
Other creditors
Total Creditors: amounts falling due within one year at the end of the period		 £
2024
2,350
£
2024
0
£
2024
62
251,304
0
251,366
£
2024
44,000
9,894
32,668
86,562		 £
2023
2,350
£
2023
30,000
£
2023
0
233,815
0
233,815
£
2023
46,000
9,651
34,832
90,483

-23-

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Notes to the Financial Statements (continued) Year Ended 31 December 2024

22
Analysis of Charitable Funds
General Charitable funds - Unrestricted
At the start of the period
Income during the period
Expenditure during the period
Gains & (losses)
Total General Charitable funds - Unrestricted at the end of the period
Fair value reserves - Unrestricted
At the start of the period
Income during the period
Expenditure during the period
Gains & (losses)
Total Fair value reserves - Unrestricted at the end of the period
Total Analysis of Charitable Funds - Unrestricted, at the end of the period
Restricted Funds
At the start of the period
Income during the period
Expenditure during the period
Gains & (losses)
Total Restricted Funds at the end of the period
Total Funds at the end of the period
23
Analysis of Net Assets Between Funds
Net Assets - Unrestricted
Tangible Fixed Assets
Current Fixed Assets
Total Net Assets - Unrestricted at the end of the period
Net Assets - Restricted
Tangible Fixed Assets
Current Fixed Assets
Total Net Assets - Restricted at the end of the period
Total Net Assets
Tangible Fixed Assets
Current Fixed Assets
Total Net Assets at the end of the period		 £
2024
2,325,988
596,124
-701,877
0
2,220,235
323,106
0
0
0
323,106
2,543,341
114,701
76,715
-26,936
0
164,480
2,707,821
2024
2,540,667
2,674
2,543,331
0
164,480
164,480
2,540,667
167,154
2,707,821		 £
2023
2,407,308
565,223
-646,543
0
2,325,988
323,106
0
0
0
323,106
2,649,094
156,361
23,097
-64,757
0
114,701
2,763,795
2023
2,618,113
30,981
2,649,094
0
114,701
114,701
2,618,113
145,683
2,763,795

24 Related parties

During the year the Charity was under the control of Trustees and Management Committee members as listed on page 3. None of the trustees or management committee members were remunerated or paid any expenses. However, they used the facilities offered by the Charity for performance of their religious duties like other members of the Muslim community.

-24-

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Management Information Year Ended 31 December 2024

The following pages do not form part of the financial statements

-25-

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Management Information Year Ended 31 December 2024

Income and Endowments
Donation and Legacies
Donations and collections
Donations - Relief Fund
Madrasa collections
Nikah registration fee
Total Donation and Legacies
Other Trading Activities
Book shop income
School Fees
Total Other Trading Activities
Investment Income
Income from investment properties
Total Investment Income
Other Income
Tax recovered under Gift Aid Scheme
Total Other Income
Total Income		 £

2024
192,511
76,715
67,223
3,540
339,989
0
270,917
270,917
57,096
57,096
4,837
4,837
672,839		 £
2023
165,505
23,097
61,029
3,360
252,991
0
281,699
281,699
53,630
53,630
0
0
588,320

-26-

ISLAMIC EDUCATIONAL & RECREATIONAL INSTITUTE

Management Information Year Ended 31 December 2024

Management Information
Year Ended 31 December 2024
Expenditure
Costs of raising donations and legacies
Other motor/travel costs
Donation- unrestricted funds
Donation- restricted funds
Costs of other trading activities
Opening stock
Purchases
Closing stock
Expenditure on charitable activities
Wages and salaries
Employer's NIC
Pension costs
Rates and water
Light and heat
Repairs and maintenance
Insurance
Other establishment
Legal, professional and accountancy fees
Telephone
Equipment Hire
Security
Other office costs
Depreciation
Interest on bank loans and overdrafts
Staff Training & welfare
Entertainment
Bank charges
Printing, postage and stationery
Total expenditure
Net (losses) / gains on investments
Gains / (losses) on other investment assets
Net income/(loss)
Cash & Cash Equivalents
Cash and cash equivalents comprise of the following:
Cash in hand
Cash at Bank
Lloyds TSB Mosque Acc 2933928
Lloyds TSB Book shop Acc 2934576
Lloyds TSB Madrasa Acc 2933804
Islamic BB Property Acc 0105803
AL Rayan Bank
Lloyds Property Acc 41023568
Lloyds TSB School Acc 41024660
Lloyds Relief Fund 41023160
Bank overdrafts
Total Cash & Cash Equivalents at the end of the period		 £































£
2023
0
0
64,757
64,757
2,350
0
-2,350
0
387,205
17,032
4,952
17,644
42,010
7,126
10,856
218
34,236
1,929
0
0
32,712
86,530
549
1,034
0
2,310
200
646,543
2024
0
0
26,936
26,936
2,350
0
-2,350
0
425,424
19,537
5,165
26,707
41,217
27,264
10,995
1,272
26,352
664
0
0
32,913
77,446
0
32
0
3,892
2,997
701,877
728,813
0		 711,300
0
(55,974)
£		 (122,980)













£
2024 2023
62 0
16,224
36,113
10,235
-24
14,257
10,019
164,480		 32,211
36,113
29,450
-24
1,540
19,825
114,701
251,304 233,815
0 0
251,366 233,815