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2022-12-31-accounts

CHARITY REGISTRATION NUMBER: 1067570

Salahuddin Trust

Unaudited Financial Statements

31 December 2022

SIDIKIES

Chartered accountants 1 Sun Street Finsbury Square London EC2A 2EP

Salahuddin Trust

Financial Statements

Year ended 31 December 2022

EC2A 2EP

Page
Trustees' annual report 1
Independent examiner's report to the trustees 3
Statement of financial activities 4
Statement of financial position 5
Notes to the financial statements 6
The following pages do not form part of the financial statements
Detailed statement of financial activities 14
Notes to the detailed statement of financial activities 15

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London

EC2A 2EP Salahuddin Trust

Trustees' Annual Report

Year ended 31 December 2022

EC2A 2EP

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.

Reference and administrative details

Registered charity name Salahuddin Trust Charity registration number 1067570 Principal office 1 Norfolk Place W2 1QN London The trustees Mr Sarhank Kader Mr Emin Kheder Mr Kamal A K Hammad Mr Nejat Amin Mr Sameer Majeed Independent examiner Amir Siddiqi, FCCA, FCA 1 Sun Street Finsbury Square London EC2A 2EP

Structure, governance and management

Structure:

This charity is governed by a trust deed dated 26th April 1997.

Recruitment:

The charity takes into account experience, qualification and dedication to charitable causes when recruiting and appointing new trustees.

The trustees have assessed the major risks to which the charity are exposed and are satisfied that systems are in place to mitigate exposure to these risks.

Objectives and activities

To serve the Kurdish community and the muslim community at large by providing prayer facilities, helping to alleviate poverty, and providing a Centre for Islamic social activities such as marriage ceremonies and Eid parties.

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 1

Salahuddin Trust

Trustees' Annual Report (continued)

Year ended 31 December 2022

Achievements and performance

The charity's activities remained similar to those undertaken in the previous year and the trustees do not consider any significant changes to the charity's future activities.

Financial review

Financial Review:

The charity's net (outgoing) / incoming resources for the year were (£1,465) (2021: £(13,833).

Reserves policy:

The trustees have examined the requirement for free reserves, which are those unrestricted funds not invested in fixed assets. The trustees consider that the current level of free reserves of £1,635,239 (2021: £1,633,774) are sufficient to meet the ongoing costs of the charity.

Statement of Trustees' responsibilities

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

The trustees' annual report was approved on 27 October 2023 and signed on behalf of the board of trustees by:

Mr Sarhank Kader Trustee

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 2

Salahuddin Trust

Independent Examiner's Report to the Trustees of Salahuddin Trust

Year ended 31 December 2022

I report to the trustees on my examination of the financial statements of Salahuddin Trust ('the charity') for the year ended 31 December 2022.

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’).

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

Independent examiner's statement

I have completed my examination. I 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 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.

Amir Siddiqi, FCCA, FCA Independent Examiner

1 Sun Street Finsbury Square London EC2A 2EP

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 3

Salahuddin Trust

Statement of Financial Activities

Year ended 31 December 2022

2022 2022 2021
Unrestricted
funds Total funds
Total funds
Note
£
£ £
Income and endowments
Donations and legacies 4
90,763

90,763

67,597
Other income 5


6,636
──────── ──────── ────────
Total income 90,763
90,763

74,233
════════
════════

════════
Expenditure
Expenditure on charitable activities 6,7
89,298

89,298

88,066
──────── ──────── ────────
Total expenditure 89,298
89,298

88,066
════════
════════

════════
──────── ──────── ────────
Net income/(expenditure) and net movement in funds 1,465
1,465

(13,833)
════════
════════

════════
Reconciliation of funds
Total funds brought forward 1,633,774
1,633,774

1,647,607
────────── ────────── ──────────
── ── ──
Total funds carried forward 1,635,239
1,635,239

1,633,774
════════════
════════════

════════════

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

The notes on pages 6 to 12 form part of these financial statements.

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 4

Salahuddin Trust

Statement of Financial Position

31 December 2022

2022 2021
Note
£
£
Fixed assets
Tangible fixed assets 13 1,622,414
1,657,979
Current assets
Cash at bank and in hand 83,425
45,975
Creditors: amounts falling due within one year 14 70,600
70,180
──────── ────────
Net current assets 12,825
(24,205)
────────── ──────────
── ──
Total assets less current liabilities 1,635,239
1,633,774
════════════
════════════
Funds of the charity
Unrestricted funds 1,635,239
1,633,774
────────── ──────────
── ──
Total charity funds 16 1,635,239
════════════

1,633,774

════════════

These financial statements were approved by the board of trustees and authorised for issue on 27 October 2023, and are signed on behalf of the board by:

Mr Sarhank Kader Trustee

The notes on pages 6 to 12 form part of these financial statements.

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 5

Salahuddin Trust

Notes to the Financial Statements

Year ended 31 December 2022

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 1 Norfolk Place, W2 1QN, London.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Salahuddin Trust which can be obtained from the charity registrar. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.(b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 6

Salahuddin Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2022

3. Accounting policies (continued)

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:

Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 7

Salahuddin Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2022

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

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:

Freehold property - 2% straight line
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance

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 largely independent of the cash inflows from other assets or groups of assets.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Donations
Donations 90,763 90,763 67,597 67,597
════════ ════════ ════════ ════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 8

Salahuddin Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2022

5. Other income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Other income 6,636 6,636
════ ════ ═══════ ═══════
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Charitable activities 51,772 51,772 56,080 56,080
Support costs 37,526 37,526 31,986 31,986
──────── ──────── ──────── ────────
89,298 89,298 88,066 88,066
════════ ════════ ════════ ════════

6. Expenditure on charitable activities by fund type

7. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly Support costs 2022 2021
£ £ £ £
Charitable activities 51,772
36,386
88,158 86,868
Governance costs
1,140
1,140 1,198
──────── ──────── ──────── ────────
51,772
37,526
89,298 88,066
════════
════════
════════ ════════
8. Analysis of support costs
Analysis of
support costs Total 2022 Total 2021
£ £ £
Staff costs 33,907 33,907 30,227
Finance costs 722 722 560
Governance costs 1,140 1,140 1,200
──────── ──────── ────────
35,769 35,769 31,987
════════ ════════ ════════
9. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2022 2021
£ £
Depreciation of tangible fixed assets 38,066
════════
38,326
════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 9

9

Salahuddin Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2022

10. Independent examination fees

2022 2021
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 300 300
Other financial services 840 898
─────── ───────
1,140 1,198
═══════ ═══════

11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as The total staff costs and employee benefits for the reporting period are analysed as follows:
2022 2021
£ £
Wages and salaries 33,907 30,035
Social security costs 107
Employer contributions to pension plans 257 86
──────── ────────
34,164 30,228
════════ ════════

The average head count of employees during the year was 4 (2021: 5).

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity were received by the trustees.

13. Tangible fixed assets

Freehold Plant and Fixtures and
property machinery fittings
Total
£ £ £ £
Cost
At 1 January 2022 1,864,310 11,912 15,716
1,891,938
Additions 2,501
2,501
────────── ──────────
── ──────── ──────── ──
At 31 December 2022 1,864,310 11,912 18,217
1,894,439
════════════ ════════ ════════
════════════
Depreciation
At 1 January 2022 209,450 9,651 14,858
233,959
Charge for the year 37,286 565 215
38,066
────────── ──────────
── ──────── ──────── ──
At 31 December 2022 246,736 10,216 15,073
272,025
════════════ ════════ ════════
════════════
Carrying amount
At 31 December 2022 1,617,574 1,696 3,144
1,622,414
════════════ ════════ ════════
════════════
At 31 December 2021 1,654,860 2,261 858
1,657,979
════════════ ════════ ════════
════════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 10

Salahuddin Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2022

14. Creditors: amounts falling due within one year

2022 2021
£ £
Social security and other taxes 1,179 878
Net wages 1,250 1,181
Other creditors 68,000 68,000
Other creditors 171 121
──────── ────────
70,600 70,180
════════ ════════

15. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £257 (2021: £86).

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 January 202 31 December
2 Income Expenditure 2022
£ £ £ £
General funds 1,633,774 90,763 (89,298) 1,635,239
════════════ ════════ ════════ ════════════
At At
1 January 202 31 December
1 Income Expenditure 2021
£ £ £ £
General funds 1,647,607 74,233 (88,066) 1,633,774
════════════ ════════ ════════ ════════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 11

Salahuddin Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2022

17. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2022
£ £
Tangible fixed assets 1,622,414 1,622,414
Current assets 83,425 83,425
Creditors less than 1 year (70,600)
(70,600)
────────── ──────────
── ──
Net assets 1,635,239 1,635,239
════════════
════════════
Unrestricted Total Funds
Funds 2021
£ £
Tangible fixed assets 1,657,980 1,657,980
Current assets 45,975 45,975
Creditors less than 1 year (71,618)
(71,618)
────────── ──────────
── ──
Net assets 1,632,337 1,632,337
════════════
════════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 12

Salahuddin Trust

Management Information

Year ended 31 December 2022

The following pages do not form part of the financial statements.

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 13

Salahuddin Trust

Detailed Statement of Financial Activities

Year ended 31 December 2022

2022 2021
£ £
Income and endowments
Donations and legacies
Donations 90,763 67,597
──────── ────────
Other income
Other income 6,636
──── ───────
──────── ────────
Total income 90,763 74,233
════════ ════════
Expenditure
Expenditure on charitable activities
Wages and salaries 33,907 30,035
Employer's NIC 107
Pension costs 257 86
Rates and water 2,193 3,158
Light and heat 1,834 7,875
Repairs and maintenance 1,500
Insurance 4,587 4,308
Legal and professional fees 1,140 1,198
Telephone 1,060 1,096
Depreciation 38,066 38,326
Interest on bank loans and overdrafts 722 560
General expenses 2,782 67
Service charges 1,250 1,250
──────── ────────
89,298 88,066
──────── ────────
──────── ────────
Total expenditure 89,298 88,066
════════ ════════
──────── ────────
Net income/(expenditure) 1,465 (13,833)
════════ ════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 14

Salahuddin Trust

Notes to the Detailed Statement of Financial Activities

Year ended 31 December 2022

2022 2021
£ £
Expenditure on charitable activities
Charitable activities
Activities undertaken directly
Rate & water 2,193 3,158
Light & heat 1,834 7,875
Insurance 4,587 4,308
Telephone & internet 1,060 1,096
Depreciation 38,066 38,326
General expenses 2,782 67
Service charges 1,250 1,250
──────── ────────
51,772 56,080
──────── ────────
Support costs
Staff - Wages & Salaries 33,907 30,035
Employer's NIC 107
Pension costs 257 86
Repair and Maintenance 1,500
Bank Charges 722 560
──────── ────────
36,386 30,788
──────── ────────
Governance costs
Governance costs - accountancy fees 300 300
Legal and other professional fees 840 898
─────── ───────
1,140 1,198
─────── ───────
──────── ────────
Expenditure on charitable activities 89,298 88,066
════════ ════════

Sidikies Chartered Accountants Chartered Accountant 1 Sun Street Finsbury Square London EC2A 2EP 15