Lhe Most Merciful the t4ost Merc Glvin In the iiame 0£ Allali Madina Tru8t C*.airmaLI' 8 Re would lilce to thank ALlah (SWT) for 8iYill8 US the opportunlty to gerve Him Islam and Mankind through Madin8 I'rust and pray that He helps and gtsitkes us it¥ achievlny Madina Trust s objects arneen. would also Ilke to welcotne yov to the AGM arkd thank YOU for attending it. Hay Allah reward you for It ameen. 1 8180 pray th£it Allah (SW'I) 8ives u8 Lhe wi8dom arkd streiigth to dlschar8e our dutLes according LO the teachlngs of Islam and accepts our efforts-aEDeeTh. 8uidance: ort for the 2023 Tru8tees' Annual General Neetin I give the followlng informatlon for the Trustees 138002 Hental Incorne frorn the propertles 07J Aild Oilier Incotne ii8675 'lotaL incowe 4239 Less ProperLies expenBeEJ 978 Other expenses 521-1 Totlc l Expeiises Net iTrcoffle Ret.ained lor f.uLur?. Investment 20% 20692 106766 14L421 Undistributed income b/t Adrl i5187 Less Distributed Amount available £or dlstributlon on 31.3.22 912.41 l()Oi.IlJ Total amount distributed upto 31.3.22
Madina Trust Freehold Pro erties Units A & B. 349 Welford Road, Leicester, LE2 6BJ. 59-63 Uppingham Road, Leicester, LE5 3TA. 4L-43 High Road, Beeston, Nottingham, NG9 2JO. DaLe of Purchase i.ii.oi 19.11.01 22.4.16 Cost 577078 162617 629594 Market Value on 31.3.2022 775000 285000 575000 Add/Less Increase/(Decrease) in Valuation 5000 12500 Market Value on 31.3. 2023 775000 290000 587500
Naaina Trust Total Distributions £1602519 Dvislon of Total Distributions in ob ecLs Amount Dawah 344418 Education 811460 Relief and Welfare 446441 £1602319 Division of Total Distributions in Countries Amount Bangladash 115052 Indla 257563 Kenya 271915 Nepal 221371 Pakistan 384133 Occupied Palestinian Territories 18490 United Kingdom 333795 £1602319
REC.ISTERED CHARITY NUMBEI Il.. 1072674 REPORT OF THE TRUSTKES AND FINANCIAL STATEMENTS FOR THE YEAR F.NDED 31 MARCH 2023 FOR MADINA TRUST Jaiy J Cansick & Co Charteied Accountants Janelle House 6 Elariham Lane Flei1foi'd Hertford%hire SG14 IQN
MADINA TRUST CONTENTS OF THF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page Report of th¢ Trustees Independent Examincr's Report Statement of Fiiiancial Activitie5 Balanee Sheet Notes lo the Financial St8letnents Detalled StAtemenl of Flnaneial Activities 12
MADINA TRU.ST REPORT OFTHE TRUSTEES FOR THE YEAR F.NDED 31 MARCH 2023 Tlie Iruslees PiE5ent their report with the financial stateincnts of tlic chic rity for rhe year cnded 31 March 2023. The trustees have adopted Ihe provi%ions of Accounting Bnd Rcpoitiiig by Charities.. Stjteineiit of Kccomtncnded I'raciice applicable to chai'ities PTepai-ing th¢ii' atcount% in accordance with the Financial Reponing Standard applicable in tlic UK dnd Republic of Ireland IFRS 1021 leffeciive l January 2019). OBJECTIVCIS AND ACTIVITIES ObjeL'tive¥ and aim5 The objectives or Madiiia Trust are the advanceTnent of the l$la11C fai¢h and the disseminatioii of ihe teachings of Islai?i. Significant #etivities The activitie5 of Ilie trust aTe. amoiik) others. lo raise funds privately, invest these funds in Iialal investine1115 aiid use Ihe investment income to achieve it5 objeciives. ACHIEVEMENT AND PERFORMANCE Charilable actLVlties The disburseineni of funds amounted to £62,940 (2022- £46.254) dui'ing Ihe yefti.. This was up 36.07 % compared to the dssbur5emeni in rhe year ro March 2022. This was a direLI result uf ihe cuuntry continuing to recover from the Covid-19 pandemic. liivcstmenl performance Thc illvestrnenis had a gross yield of 7.96¢/0 compared 8.36Q/o in the previous pci'iod. TSie rea%on for this is that rental income lias reduced and the valuarion of the propei1ies has iiicrea5ed in value, meaning the bench mark for the yield has altered. FINANCIAL REVIEW Fiijancial position rhe charity is in a stable p05ltion, with the investments producing ei)ou8h income for the charity to operate for the foreseeable future, Reserves policy Endowineiit 20/Tr of nei incoii)e is dllocaied 10 the eiidowineni flliid iii ordej. to fund future pi'operty iIivesiii)eiii. These fuiids are not pennatjent and tnay be used to fund normal aciivi(ies if Ihe Irusrees deem li lo be dppropriate. General In view of the regul&r nature of the charitys renial income ond its minimal ovcrhcad cxpen.%es, the trust¢cs do not consider it necessary 10 maintain a material level of reserves on tliis nd. Cwoing ¢one¢rn A5 the Charity ha8 kepi it.% propertie8 occupied over the la81 12 monihs, and ha5 Colltiniied to build on ils re%erves wlii151 still providing gnnt5 iii line with the charity objectives. we See no iea50n tliat the charity will noi ¢ontinue Iv be a ¥oing oncern oveT the next 12 nionth5. FUTURE PLANS Tlie trustCCS ¢liin to coiitiiiue to siipport tliose in need in Ilie fulure, and, wheie feasible, propose 10 invest furil)ei' to inc1¢4%e Ihe chariiy's inloine to eiiable il to increase Ilie dislTibiilons Jnade. STRUCTURE, GOVERNANCE AND MANAGEMENT GvveriiiiLgY ducumeiit The ¢harity is controlled by iis g?overiiing docuineni, a deed of irust and constitutes an unincorporated chariry. Decision making All deLisiOllS TeuFarding distributions aiid the fuiiding of future invesrmen15 are made by Ihc boai'd of trustees al the appiDpriaie trustee meetings. P478e I
MADINA TRUST REPORT OF THF. TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 REFERbNCE AND ADMINISTRATIVEI DETAIiS Registered Cliarity nuniber 1072674 Prlncipal Y4ddress 13 Wayfoi'd Close Longiliotpe Peterborough Cambridgeshire PE3 9NL Trustees ProfK Ahmed Dr M M Ahb'an MBE Z H&5%an S Ha%san Dr Z A Parvcz Fsmurnd l Hassan N Ilassan Jndependeiit ExAminer Gary J Cansick & Co Charteied Accountants Janellc House 6 Hartham Lane Hertford Hertfordshire SG14 IQN Approved by order of the board of trustees on 12 Qeȕbep2013 and signed on its behalf by.. Z Hassan- Trustee Page 2
INDEPENDENf LXAMII¥4ER'S REPORT TO THE TRUSTEES or MADINA TRUS'I, liidependeDt exAmiiier'$ report to tlie ¢rustee5 of MhdliiA Trust l TCPQlt 10 Ilie chaTlly Iru51ees on my examination of the accounts of Madina Tru51 Itlic Trysll for the ycar ended 31 March 2023. Re5pon¥ibillties bAsis ofreport As Ihe chariiy Iruslees of ilie 'fr1151 you are responsible for the pirpaFation of the accounts in accordance witli the requireTnenls ofihe CliJrili&% Act 2011 {'Ihe Act,). I Irport in rcspect of rny exaTnination of ihe Trust's accoun15 ca}ed out under Section 145 of the Act and in carrying out rny examiiiation I have followed all dpplicable DiTeciions giveii by the Chaiity Commission und¢r Section 14515Xb} of tlie Act. Indepeiident exAiJiiiier'5 5tAtemeiit I liave ¢ompleied rny ciamiiiatioii. I confiiTh that no Inaierial malteTS have cotne to my atiention in conne¢iion with the examiiialion giving me causc10 believe that in any material re5PeCI'. accounting records were noi kept respect of tlie Trust as rwuiitd by Seeiioii 130 of the Act,. or the account5 do noi accord witli those records,. or the awounL% do not comply with Ihe dpplicable requirements conceming the fomi and content of account% sel oui in Ilie Charitie5 (Accouiiis and Repuiis) Regulation5 2008 niher than aiiy requiremeiil that thc a¢couiil% give true and fair view wliicli is not a matler considered part of ali indcpcndenl examination. llave no coilcerns aiid have coine ac15% no other Tnatter8 in cowieclion with the examination to which alteiilion should be di7wn iii ihis repoTi in oi'dcr lo eiiable a propel. undeT51allding of ihe accoiTrnts lo be iEached. Mr (iary J Ca115ick Gary J Cansick & Co Chartered Ac¢ouniants Janell¢ House 6 Haitham Lai)e Hertford Heitford5hire SG14 IQNT 13 October 2023 Page 3
ADINA TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 31.3.23 Total funds 31.3.22 Total funds Unrcstricted ftind Endowment nd Notes INCOME AND ENDOWMENTS FROM Donarions and legacies 30 550 Inve5tm¢nt incoyi)e Oiher income 105,786 26,447 132,233 136,894 72 Total 105,907 26.477 132.384 137,516 EXPENDITURE ON Rai5l21B fund5 3,391 848 11,239 9,148 Ch2rllabl¢ aetivities Lhai'itable aciivstie5 62,940 62,940 46,254 Other 783 196 979 829 Total 67,114 1,044 68,158 56,231 Net gains on ihvestments 17,500 17,500 i 0.000 NET INCOIME 38,793 42,933 81,726 91,285 RECONCILIATION OF FUNDS Total ftinds brougiit forward 154,013 1,728,054 1,882,067 1,790,782 T(YfAL FUNDS CARRIED FORWARD 192,806 1,770,987 1,96J.793 1,882.067 The note5 forni pari of these financial staleinenis Page 4
MADINA TRUST BALANCE SIIEIIT 31 MARCII 2023 31.3.23 Toial funds 31.3.22 Total fund.% Unr¢aritl fund Endowmcnl fund Notes FIXED Assrrs . Investment property 1,652,500 1,652,500 1,635,IKK) CURREiYT ASSETS Debiors Casli at bank 771 197,615 193 118,402 964 316,017 7,411 245,837 198,386 118,595 316,981 251,248 CREDITORS Amounls falliiig due within one year 15,580) (1081 (5.6881 NET CURRENf ASSE13 192,806 118,487 311.293 247,067 TOTAL ASSETS LESS CURRENT LIABILITIES 192,806 1,770,987 1,963,793 1,882.067 NET ASSETS 192,8(h5 1.770.987 1.963.793 1.882.067 FUNDS Utu'estricied fund5 Etldowmeni funds 192,806 1.770,987 154,013 1.728,054 TOTAL FUNDS 1,963,793 1,882.067 Tlie financial *aiements were approved by the Board of Trustee5 and auth0ri5ed for issue on 12 2023 and were signed on its behalf by.. Z Hassan-Trusltt The note5 form part of these financial statements Page 5
MADINA TRUST NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Basi5 of preparing the fiii#Dcial statemeiits The financial stai¢me¢Jls of the charity, which is a public benefit entlty under FRS 102, have been prepared i accordaiice wirh the CliaTltics SORP (FRS 102) 'Accounting and Reporiing by Cliarilies.. Stareinenl of Reconimended Practice applicable to charities preparing Iheir accounts in accordance witli the Financial Ileporling Standard applicc1ble in the UK and Republic of Ireland (FRS 102) (eff¢clive l JaRuaiy 2019), inancial Reporting Siai)dard 102 'The Financial Reportin¥ Standard applicable in the UK and Republi¢ of ITeland' wid the ClJaritie5 Act 2011. file financial slaiemenis have beeii prepared under the historieal cost conv¢iilion, as iiiodified by the revaluation of certaiii assets. IN¢ome All in¢oine is re¢ogni5ed in the Siaiemeni of financial Activities once Ihc charity lias entitlement lo tlie fuiTrds. it is prgbable that the income will be received and Ilie ainouiii can be iredsured reliably. Expenditure Liahilities are reeognised as expenditure as soon as Iherc is a legal or constructive obligation comjnitting the chariry to that expendiiuir. it IS PTobable that a transfer of econoniic benefits will be qUIred in seitlement and the amouiit of the obligation can be mea.%ured Teliably. Expenditure is accounted for on an accruals basis 12nd has been classified under headings that aggregate all cost related to ihe category. Wliere costs cannul be directly attributed lo particular headiiigs they have been 4111ocated to a¢tivities on a basis consistent with the use of re50ur¢es. InveslmeNI property Investjneni property 15 shoivn ai most ieceiit valuation. Aiiy ag&?regaie surplus or deficit arising from changes in fair value is recognised in die SiateiM¢nt of Financial Activities. Taxatioij The charity is exempt froin tax on its charitable activities. Fund accountiii% Uttresh'icied funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted fujids can only be used for particular resiricled purposes wiihin the objecis of the chai"ity. Restriction5 aj'ise when specifjed by Ihe donor vr when fujids are raised for particular reslri¢ted purp05es. Fuyther explanation of the nature and purpose of each fund is included in the notes to the financial Slatements. INVESTMENT INCOME 31.3.23 Rents received Intere51 and other ¥nveslinent income 31.3.22 131,555 678 136,704 190 132,233 136.894 Page 6 continued...
MADINA TRUST NOTES TO THE FINANCIAL STATEMEI NTS- continued VOR THE YEAR ENDED 31 MARCH 2023 RAISIIYG FUNDS lttyestment Tnanagemen¢ costs 31.3.23 31.3.22 Poi1folio Inana¥7enicnt Property iepairs 4.239 7,947 1,201 4,239 9,148 TRUSTEES, REMUNERATION AND BENEFITS There weie no tru5tees' iemunei'ation or other benefits for the year elided 31 March 2023 iior for ihe year ended 31 March 2022. Tru5tees' expenses There weir no tte£s, expenses paid for the year ended 31 March 2023 Jior for the yeai. ended 31 March 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unresli"icted fund Endowmeni fund Tolal funds INCOME AND ENDOWMENTS FROM Donations and legacies 440 550 Invesiment income Other income 109,515 58 27,379 14 136,894 72 Total 110.013 27,503 137,516 EXPENDITURE ON RaisinbT funds 7.319 1,829 9,148 ChHritable *ctivities Charitable activities 46.254 46,254 Other 663 166 829 Total 54.236 1,995 56,231 Nel gains on inve5tmenfs 10,000 10,000 NET INCOME 55,777 35,508 91.285 RECONCILIATION OF FUNDS Total ndS brougl)t forwai'd 1,692.546 1,790.782 TOTAL FUNDS CARRIED FORWARD 154,013 1,728,054 1,882,067 Page 7 conliniied...
MADINA TRUST NOTC4S TO THE FINANCIAL STATEME4 NTS. eoiitinueil FOR THE YEAR ENDED 31 MARCH 2023 INVESTMENT PROPERTY FAIR VALUE At l April 2022 Revaluativn 1,635,oofi 17,500 At 31 March 2023 1,652,500 NET BOOK VALUE At 31 March 2023 1,652,500 At 31 March 2022 1,635,000 Fair value at 31 March 2023 is represented by.. Valuation 2019 Valuation in 2020 Valuation in 202 Valuation in 2022 Valuation in 2023 C05t 217.245 5,000 i 0,000 i 0,000 17,500 1.392,755 1,652,500 If investment properties had not been revalued they would have been included at the following hisiorical cosl.. 31.3.23 31.3.22 Cost 1.392,755 1,392,755 Investment properties were valued an opeii mark¢t basis on J l March 2023 by Jarroni.s l.imited. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Trade debtor5 964 7,411 Pagc 8 coniinued...
MADINA TRUST NOTES TO THE FINAP4CIALSTATEMEIYTS- eontinued FOR THE YEAR ENDED 31 MARCH 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.2.3 31.3.22 Taxaiion and social security Other creditors 5.146 542 5,760 421 5,688 6,181 MOVEMEP4T IN FUNDS Net movetnent in funds Al 31.3.23 At 1.4.22 Unrestricted funds Geneiol fijnd 154,013 38,793 192,806 Endowmcnt lund5 Endownnient fund 1,128,054 42,933 1.770,987 TOTAL FUNDS 1.882,067 81,726 1,963,793 Nei movetnent in funds, included in the above are as followg.. Incoming resources Resources expended Gains and losses Movement in fui)ds Unrestricted funds Geneial fiind 105,907 (67.114) 38.793 Endoivment funds Endownn)ent Fund 26,477 (1,044) 17,500 42,933 TOTAL FUNDS 132.384 (68,158) 17.500 81,726 Comparatives (or movement iii funds Nel movement fui)ds At 31.3.22 Ai 1.4.21 Umr¢stricted fvnds Gene121 fund 98.236 55,777 154.013 Endowment fuiid5 Eiidownment Fund 1,692,546 35,508 1,728,054 TOTAL VUNDS 1.790,782 91,285 1.882,067 Page 9 coniinued,.
MADINA TRUST NOTES TO THE FJNANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 MOVEMENT IN FUNDS- eonlinucd Comparative net movement in funds, included in the abov¢ are as follow5.. Incoming resource5 Resouires expended Gains and losses Movement in funds Unrestrlcted funds General fund 110,013 (54,2361 55,777 Eiidowment funds Endownmeni Fund 27,503 (1,995) i 0,000 35,508 TOTAL FUNDS 137,-516 (56,231) 10,000 91,285 A Current year 12 month5 and prior year 12 months combined position is as follows.. Nei movejnent iii funds At 31.3.23 At 1.4.21 Unre5tritled funds General fund 98.236 94,570 192,8U6 En(fowment flind$ Endownmeni Fund 1,692,546 78,441 1,770,987 TOTAL FUNDS 1,790,782 1,963,793 A current year 12 months and prior year 12 months combin¢d net Inovement in funds, included in th¢ above ar¢ as follows.. Iiicomiiig resoui¢es Resources expended Gains and losses Movement in fiinds Unrestricted funds General fund 215,920 {121,350) 94,570 Endowment fund$ Endownment Fuiid 53,980 (3,039} 27,500 78.441 TOTAL FUNDS 269.900 (124,389) 27.500 Page 10 continii¢d...
MADINA TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 10. RELATV.D PARTY DXSCLOSURES There w¢rc no r¢laied party transactions for the ycar ended 31 March 2023. Page 11
MADINA TRUST DF.TAILED STATEMENT OV FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 31.J.23 31.3.22 INCOME AND ENDOWMENTS Di)nations and legacies Donations 550 Invcstmenl income Rents received Interest and otlier iiives(nieni income 131.555 678 136,704 190 132,233 136,894 Other in¢ome Other income 72 Total incoinlng resources 132.384 137.516 EXPENDITURE Investment management costs Portfoliu management Property Irpairs 4.239 7,947 1,201 4.239 9,148 Charitablt aclTVitÉ¢s Disburscm¢iits 62.940 46.254 Support costs Governance eosts Postage and stationery Sundries Accountancy and legal fees 150 409 420 150 339 340 979 829 Toial resources expended 68,158 56,231 Net income before gain$ and losses 64,226 81,285 Reali.$td reeognised gain5 aiid losies Realised gaiTrs/llosses) on invo%tment property 17.500 i 0.000 Net incoine 81,726 91.285 I'liis page dves not form parl ofihe statutory financial statements Page 12