2023-08-31-accounts - Manchester Islamic Educational Trust Ltd

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Reference and Administrative Details
Report ofthe Trustees	2	to	9
Report ofthe Independent Auditors	10	to	12
Statement of Financial Activities		13
Statement of Financial Position		14
Statement ofCash Flows		15
Notes to the Statement ofCash Flows		16
Notes to the Financial Statements	17	to	25

						2023	2022
				Unrestricted	Restricted	Total	Total
				funds	fund	funds	funds
			Notes		F
Fixed assets
Tangible assets			10	14,856,565		14,856,565	3,137,350
Current assets
Debtors			11	910,699		910,699	535,445
Cash at bank	and	in hand		126,351		126,351	288,491
				1,037,050		1,037,050	823,936
Creditors
Amounts falling due within one year			12	(738,656)		(738,656)	(562,606)
Net current	assets			298,394		298,394	261,330
Total assets	less	current liabilities		15,154,959		15,154,959	3,398,680
Creditors
Amounts falling due after more than one year			13	(4,712,733)		(4,712,733)
NET ASSETS				10,442,226		10,442,226	3,398,680
Funds			15
Unrestricted	funds					10,442,226	3,398,680
Total funds						10,442,226	3,398,680

				2023	2022
			Notes
Cash flows from	operating	activities
Cash generated from operations			1	2,349,342	(235,685)
Net cash provided	by/(used	in) operating	activities	2,349,342	(235,685)
Cash flows from	investing	activities
Purchase oftangible fixed assets				(13,585,740)	(62,758)
Sale oftangible fixed assets				9,104,258
Net cash used in	investing activities			(4,481,482)	(62,758)
Cash flows from	financing	activities
New loans in year				3,491,500
Loan repayments	in year			(1,521,500)
Net cash provided	by financing activities			1,970,000
Change in cash	and cash	equivalents
in the reporting	period			(162,140)	(298,443)
Cash and cash equivalents		at the
beginning ofthe	reporting	period		288,491	586,934
Cash and cash equivalents		at the end
ofthe reporting	period			126,351	288,491

Reconciliation ofn	et income	to net cash flow from operating activ	ities
			2023	2022
				F
Net income for the	reporting	period (as per the Statement of
Financial Activities)			7,043,546	163,122
Adjustments for:
Depreciation charges			346,264	109,639
Profit on disposal of	fixed assets		(7,583,997)
Refundable deposits	reclassification		297,200
increase in debtors			(375,254)	(466,759)
Increase/(decrease)	in creditors		2,621,583	(41,687)
Net cash provided	by/(used	in) operations	2,349,342	(235,685)

2.	Donations and legacies
							2023	2022
								f
	Donations received						475,433	130,583
3.	Investment income
							2023	2022
	Rents received						78,000	84,000
	Income from charitable	activities
							2023	2022
			Activity					R
	School fees		Charitable	activities			3,190,331	3,135,563
	Books, sundry fees and
	miscellaneous income		Charitable	activities			126,209	45,317
							3,316,540	3,180,880
5.	Charitable activities costs
							Support
						Direct	costs (see
						Costs	note 6)	Totals
								E
	Charitable activities					2,994,422	1,416,002	4,410,424
6.	Support costs
						Information	Governance
			Management		Finance f	technology	costs	Totals E
	Charitable activities		1,067,767		266,962	12,776	68,497	1,416,002
7.	Net income/(expenditure)
	Net income/(expenditure)	is	stated after	charging/(crediting):
							2023	2022f
	Auditors' remuneration						6,000	4,920
	Depreciation - owned assets						346,264	109,639
	Hire of plant and machinery						8,271	8,725
	Other operating leases						163,773
	Surplus on disposal offixed		assets				(7,583,997)

There were no trustee expenses paid for the year	ended 31 August 2023 (2022:fnil).
Staff costs
	2023	2022
Wages and salaries	2,362,912	2,172,751
Social security costs	188,622	166,223
Other pension costs	44,886	40,468
	2,596,420	2,379,442

11.	Holdings Limited resp Debtors	ectively. These charges are still outstanding.
			2023	2022
			F
	Amounts falling due within one year:
	Trade debtors		38,188	22,702
	Other debtors		442,472	508,701
	Prepayments and accrued income		14,506	4,042
			495,166	535,445
	Amounts falling due after more than one year:
	Other debtors		415,533
	Aggregate amounts		910,699	535,445
12.	Creditors: amounts	falling due within one year
			2023	2022
	Interest free loans (see note 14)		470,000
	Trade creditors		80,507	51,219
	Social security and other taxes		61,842	25,414
	Pension control account		8,858	7,794
	Other creditors		78,904	153,254
	Refundable deposits		17,500	295,200
	Accruals and deferred	income	21,045	29,725
			738,656	562,606

Creditors:	amounts falling due after more than one	year
		2023	2022
			f.
Interest free loans (see note 14)		1,500,000
Refundable	deposits	297,200
Murabaha	payable	2,915,533
		4,712,733

During the year	, the charit	y received the following don	ations from related parties.
			2023	2022
			Amount (E)	Amount (f)
Hartley Hall of	Residence	Ltd	105,000	75,000
Trustee Mr SBSalam			25,000
Trustee Mr FZaheer			5,000
Brighter Future	Initiative		14,000
Makki Masjid			1,368
British Muslim	Heritage Centre		2,835	28,066