CHARITY REGISTRATION NUMBER: 1085713 ALULBAYT FOUNDATION Unaudited Financial Statements 31 March 2025 FAIRMAN DAVIS Chartered accountants 3 Exhibition House Addison Bridge Place London W14 8XP
ALULBAYf FOUNDATION Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
ALULBAYT FOUNDATION Trustees. Annual Report Year ended 31 March 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charlty name ALULBAYT FOUNDATION Charity regislration number 1085713 Principal office 75 Brondesbury Park London NW6 7AX The trustees Mr Fadhil Mehdi Mr Mohsen Mousavi Mr Hamid Asmail Independent examiner Faimian Davis 3 Exhibition House Addison Bridge Place London W14 8XP Structure, governance and management Governing Documents The organisation was registered as charity on 21 st March 2001 and is governed by its Trust Deed dated 191h March 2000. Organisation Structure Alulbayl Foundation has a Management Committee which meets quartedy and is responsible for the slrategic direction and policy of the charity. Risk Management The Management Committee has conducted a review ofthe major risks lo which the charity is exposed to and continues to monitor this on an ongoing basis. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety off volunteers. clients and visitors to the centre. The procedures are periodically reviewed to ensure Ihat they continue to meet the needs of the charity.
ALULBAYf FOUNDATION Trustees. Annual Report (continued) Year ended 31 March 2025 Objectlves and activities The charity's objective and its principal activity continue to be that of providing relief of povety, sickness. distress and the advancement ol education in particular amongst people who are of Islamic Faith. Achievements and perforniance The Trustees consider that the performance of the Charity this year has been satisfactory. Flnancial review Against the backdrop of limited resources the charity has continued to plan or develop its services. With the aid of sound financial management and the support of both its staff and volunteers, the charity has achieved a satisfaclory outcome for the year. with sufficient resources to conlinue ils nomial activities in the forthcoming years. Plans for future periods The charity intends to continue its activities in pursuance of its defined objectives. The trustees. annual report was approved on 15 May 2025 and signed on behaff of the board of trustees by: Mr Mohsen Mousavi Trustee
ALULBAYT FOUNDATION Independent Examiner's Report to the Trustees of ALULBAYT FOUNDATION Year ended 31 March 2025 I report to the trustees on my examination of the financial ststements of ALULBAYT FOUNDATION {'the charity.) for the year ended 31 March 2025. Responsibilities and basis of report As the truslees 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 charitys 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 examinerfs 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 confimi that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales {ICAEW), 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- accounting records were not kept in respect of the charity as required by section 130 of the the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Charittes (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a 'true and fairf 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. Faiman Davi Independent Examiner 3 Exhibition House Addison Bridge Pla London W14 8XP
ALULBAYT FOUNDATION Statement of Financial Activities Year ended 31 March 2025 2025 Restricled funds Total funds 2024 Unrestricted funds Total funds Income and endowments Donations and legacies Total income 475,216 138.750 613,966 483,667 475,216 138,750 613.966 483.667 Expendlture Expenditure on charilable activities 305.418 138,750 444,168 444,168 566,351 Tolal expenditure 305,418 138,750 566,351 Net incornel(expenditure) and net movement in funds 169,798 169,798 (82,684) Reconciliation of funds Total funds brought forward Total funds carried forward 125.901 125,901 208,585 295,699 295,699 125,902 The statement of financial aclivities includes all gains and losses rewnised in the year. All income and expenditure derive from continuing activities. The notes on pages 6 to 13 fonn part of these financlal statements.
ALULBAYT FOUNDATION Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Tangible fixed assets Note 11 6.316 55,758 Current assets Debtors Cash at bank and in hand 12 30.142 267.538 297,680 29,742 46,221 75,963 Creditors.. amounts falling due within one year Net current assets Total assets less current liabilities Net assets 13 8.297 5.820 289,383 70.143 295,699 295,699 125,901 125,901 Funds of the charity unstriCted funds 295,699 125,902 Total charity funds 16 295,699 125,902 These financial statements were approved by the board of trustees and authorised for issue on 15 May 2025, and are signed on behalf of the board by: Mr Mohsen Mousavi Trustee Thè notes on pages 6 to 13 forni part of these finan¢Sal statements.
ALULBAYT FOUNDATION Notes to the Financial Statements Year ended 31 March 2025 General inforniation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal Offi 15 75 Brondesbury Park, London, NW6 7AX. 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 Statemenl of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historitsl cost basis. as modrfied 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 charty's ability to continue. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designaled funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjecled to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one oftwo sub-classes- restricted income funds or endowment funds.
ALULBAYT FOUNDATION Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2025 Accounting policies (contlnu•d) 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 lo the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gtft, receipt is probable and rts amount can be measured reliably. legacy income is re¢ognised when receipt is probable and entillement is established. income from donated goods is measured at the fair value of the goods unless this is impraclical to measure reliably, in which case the value is derived from the Cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlractual requirement for it to be spent on a particular purpose and retumed rf unspent, in which case it may be regarded as restricted. Resources expended Charitable expenditure comprises those costs incurred by the Charty in the delivery of its activilies and services for its beneficiaries. It included both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Govemance costs include those costs associated with meeting the charity's constitutional and statutory requirements as well as costs linked to the slrategic management of the charity. Tangible assets All fixed assets are initially recorded al 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.. Leasehold Property Fixtures & Fittings Motor Vehicles Equipment 10 /0 Straighl line 250/0 Straighl line 25 % straight line 25tr/o straight line Impairment of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where Ihe carying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
ALULBAYf FOUNDATION Notes to the Financial Statements (witinued) Year ended 31 March 2025 Accountlng policles (¢ontinuedl Impairnient of fixed assets (continu•d) For the purposes of impairmenl 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 lo which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash infbws from other assets or groups of assels. For impairment testing of goodwill, the goodwill acquired in a business combination is. from Ihe acquisition date, allocated to each of the cash-generating unils 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. Govemment grants Govemment grants a recognised at the fair value of the asset received or receivable. Grants are not re¢ognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specrfied future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are re¢erved or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognttion criteria. they are recognised as a liability. Financial instruments A financial asset or a financial liability is recognised only when the ¢harity becomes a party to the contractual provisions of the instrument. Basic financial instruments are intlially 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 cosl 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 al 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. wrth any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
ALULBAYf FOUNDATION Notes to the Financial Statements {conthJuod) Year ended 31 March 2025 A¢¢ounting policles (contlnu•d) Financial instruments (continued) Financial assels that are measured at cost or amortised cost are reviewed for objective evidence of impairment at Ihe end of each reporting date. If there is objective evidence of impaimient, 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 caryin9 amount of the financial asset that exceeds what the carrying amount would have been had the impainnent not previously been recognised. 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 thal the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholty 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. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donations Donations 470,041 138,750 608,791 Grants Government grant income 5,175 5,175 475.216 138,750 613,966 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations 263,105 217,762 480,867 Grants Government grant income 2.800 2,800 265.905 217,762 483,667
ALULBAYT FOUNDATION Notes to the Financial Statements (contlnu•dJ Year ended 31 March 2025 Expenditure on charitable activitles by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Charitable activity Support Costs 110.755 194.663 138,750 249.505 194,663 305,418 138,750 444,168 Unrestricled Funds Reslricted Total Funds Funds 2024 Charitable aclivty Support costs 180,128 168,460 217,762 397,890 168,461 348,588 217,762 566,351 Expendtture on charitable actlvilies by activity typè Activities undertaken direclly Support Total funds costs 2025 Total fund 2024 Charitable activty Governance costs 249.505 191,310 3.353 440,815 3.353 563,871 2,480 249.505 194,663 444,168 566,351 Analysls of support costs Analysis of support costs actNity 1 Total 2025 Total 2024 Staff costs Premises General office Governance costs 110.653 75.706 4.950 3,954 110.6S3 75.706 4,950 3,954 93.498 65,764 6,838 2,240 195.263 195,263 168.340 Net incomel(expenditure) Net incomel{expenditure) is ststed after chargingl(crediting)-. 2025 2024 Depreciation of langible fixed assets 49,442 50,282 10
ALULBAYT FOUNDATION Notes to the Financial Statements (continued) Year ended 31 March 2025 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 107.527 2.061 1.066 91.741 668 1,089 110,654 93,498 The average head count of employees during the year was 7 (2024: 6). No employee received employee benefits of more than £60,000 during the year (2024: Nil). 10. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 11. Tangible fixed assets Land and Fixtures and buildings frtlings Motor vehicles Equipment Total Cost At 1 April 2024 and 31 March 2025 489,877 3.948 5.900 21.043 520.768 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 435.030 48,988 3.946 5,899 20,135 454 465,010 49.442 484,018 3.946 5.899 20,589 514,452 Carrying amount At 31 March 2025 5,859 454 6,316 At 31 March 2024 54,847 908 55,758 12. Debtors 2025 2024 Other debtors 30.142 29,742 13. Credltors: amounts falllng due wlthln one year 2025 2024 Accruals and deferred income Social securty and other taxes Other Creditors 3,000 2,996 2.301 2,160 3,201 459 8.297 5,820 11
ALULBAYT FOUNDATION Notes to the Financial Statements (eonlinu Year ended 31 March 2025 14. 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 £1,066 (2024: £1,089). 15. Government grants The amounts CogniSed in the financial statements for govemment granls are as follows.. 2025 2024 Recognised in income from donations and legacies: Governmenl grants income 5,175 2,800 16. Analysis of charitable fvnds Unrestricted funds At 1 April 2024 At In¢ome Expenditure 31 March 2025 General funds 125.901 475,216 (305,418) 295,699 At 1 April 2023 At Income Expenditure 31 March 2024 General funds 208.585 265.905 (348,588) 125,902 Restricted funds At 1 April 2024 At Income Expenditure 31 March 2025 Restricted Funds 138.750 (138.750) At 1 April 2023 At InGome Expenditure 31 March 2024 Restricted Funds 217.762 1217,762) 12
ALULBAYf FOUNDATION Notes to the Financial Statements (contiftuedj Year ended 31 March 2025 17. Analysls of net assets between funds Unrestricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Net assets 6,316 297.680 (8,297) 295,699 6.316 297.680 (8.297} 295,699 Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year Net assets 55,758 75,963 (5.820) 125,901 55.758 75,963 (5,820) 125,901 13