**REGISTERED CHARITY NUMBER: 1091881**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 May 2024**
## **for**
## **The Dakri Charitable Trust**
**The Dakri Charitable Trust**
## **Contents of the Financial Statements for the Year Ended 31 May 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|11|
**The Dakri Charitable Trust**
## **Report of the Trustees for the Year Ended 31 May 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are the relief of poverty and sickness, the advancement of education, and the advancement of the Islamic religion in the United Kingdom and in any other geographical area of the world.
The trustees have had due regard to guidance published by the Charity Commission on public benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity's activity is the provision of grant funding to causes that further it's charitable objects.
During the year, the charity was able to provide £60,370 of grant funding.
## **FINANCIAL REVIEW**
## **Financial position**
During the year under review, the Trust received donation income of £2,800 and generated investment income of £78,707. The Trust expended £62,781 on the furtherance of its charitable objectives.
The Trust's net assets as 31 May 2024 were £1,276,318 compared to £1,275,153 at the start of the year. £1,200,000 (2023: £1,200,000) of these funds can only be realised if the charity sold it's investment property.
## **Reserves policy**
The reserves policy of the charity is to maintain unrestricted funds at a level sufficient to cover upcoming management, administration and support costs and to respond to emergency applications for donations which arise from time to time.
The trustees believe the reserves held at the year end, excluding the value held in fixed assets, is within the range described above.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Dakri Charitable Trust is constituted under a trust deed dated 1 June 2001 as amended by supplemental deed dated 10 March 2002. It's registered charity number is 1091881.
The Trust seeks to ensure that its trustees have the appropriate mix of skills to guide the work of the Trust and is continuously seeking ways to put in place succession arrangements for new trustees.
All new trustees are inducted to ensure that they understand their role and responsibilities as trustees.
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1091881
## **Principal address**
Unit 7c Earls Way Churchill Road Industrial Estate Thurmaston Leicester LE4 8DL
Page 1
**The Dakri Charitable Trust**
**Report of the Trustees for the Year Ended 31 May 2024**
## **Trustees**
I Y Dakri M I Dakri I Adam M Dakri
## **Independent Examiner**
N Bathia, FCA torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
## **Solicitors**
Shakespeares Martineau LLP 2 Colton Square Leicester LE1 1QH
## **Bankers**
Lloyds Bank 7 High Street Leicester Leicestershire LE1 9FS
## **INVESTMENT PROPERTY**
I Y Dakri, M I Dakri and I Adam hold title to the Investment Property on behalf of the charity.
Approved by order of the board of trustees on 27 March 2025 and signed on its behalf by:
I Y Dakri - Trustee
Page 2
**Independent Examiner's Report to the Trustees of The Dakri Charitable Trust**
## **Independent examiner's report to the trustees of The Dakri Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Dakri Charitable Trust (the Trust) for the year ended 31 May 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
N Bathia, FCA
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
27 March 2025
Page 3
## **The Dakri Charitable Trust**
## **Statement of Financial Activities**
## **for the Year Ended 31 May 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
4
Grant activities
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.5.24
Unrestricted
funds
£
2,800
78,707
81,507
17,561
62,781
80,342
-
1,165
1,275,153
1,276,318|31.5.23
Total
funds
£
4,800
114,218|
|---|---|---|
|||119,018|
|||20,027
66,070|
|||86,097|
|||55,677|
|||88,598
1,186,555|
|||1,275,153|
The notes form part of these financial statements
Page 4
**The Dakri Charitable Trust**
## **Balance Sheet**
## **31 May 2024**
|Notes
**FIXED ASSETS**
Investment property
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds:
General fund
**TOTAL FUNDS**|31.5.24
Unrestricted
funds
£
1,200,000
38,425
61,861
100,286
(23,968)
76,318
1,276,318
1,276,318
1,276,318
1,276,318|31.5.23
Total
funds
£
1,200,000
47,115
51,285
98,400
(23,247)
75,153
1,275,153
1,275,153
1,275,153
1,275,153|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 March 2025 and were signed on its behalf by:
I Y Dakri - Trustee
The notes form part of these financial statements
Page 5
**The Dakri Charitable Trust**
## **Notes to the Financial Statements for the Year Ended 31 May 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant note(s) to the accounts.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Allocation and apportionment of costs**
Support costs are allocated to the charity's grant making activities.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 6
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Debtors**
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.
## **Creditors**
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
## **Going concern**
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
## **2. INVESTMENT INCOME**
|Rents receivable
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**4.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
(see note
5)
£
Grant activities
60,370
**5.**
**GRANTS PAYABLE**
Grant activities||
|---|---|
Page 7
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2024**
## **5. GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:
|Malawi Relief Fund UK
Madhepur Education Centre Welfare Trust
Jamia Kashiful
Tanzimul Masjid
Education in Action
Valau Education
Iqra Aid Trust
Murkhi Trust
Valli Trust
Al Kawther Trust
Bachchoka Ghar Naswadi
Other grants
Water Aid
Al-Khair Foundation
Goodwood Mosque
Leicester Hospitals Charity
Pakistan Flood Relief
Yakub Chemist - India food relief
M Zakaria - Turkey Relief
Al Ansar Mosque
Al Zahra Mosque
Sri Lankan Muslim Foundation of Leicester
Mauritania Desert Project
Abbas Foundation|31.5.24
£
12,500
250
12,500
10,000
2,850
3,000
-
1,000
-
-
-
2,720
2,650
1,800
-
-
-
-
-
2,500
1,000
1,000
3,500
3,000
60,270|31.5.23
£
12,500
5,500
6,300
1,250
3,550
-
7,250
1,000
3,000
7,500
1,950
2,250
-
-
1,000
1,000
6,800
1,000
1,500
-
-
-
-
-|
|---|---|---|
|||63,350|
Other grants consist of small grants of less than £750 individually.
Grants payable to individuals amount to £100 (2023: £400).
## **6. SUPPORT COSTS**
## **7.**
|**SUPPORT COSTS**||||
|---|---|---|---|
|||Governance||
||Finance|costs|Totals|
||£|£|£|
|Grant activities|251|2,160|2,411|
|**INDEPENDENT EXAMINERS' REMUNERATION**||||
|||31.5.24|31.5.23|
|||£|£|
|Independent examiners remuneration||2,160|2,080|
Page 8
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2024**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.
## **9. INVESTMENT PROPERTY**
|**INVESTMENT PROPERTY**||
|---|---|
|**FAIR VALUE**
At 1 June 2023
and 31 May 2024
**NET BOOK VALUE**
At 31 May 2024
At 31 May 2023|£
1,200,000|
||1,200,000|
||1,200,000|
The investment properties have been valued by the trustees on a rental yield basis.
## **10.**
## **DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Prepayments and accrued income
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Accruals and deferred income|31.5.24
£
29,356
9,069
38,425
31.5.24
£
-
4,642
19,326
23,968|31.5.23
£
38,316
8,799|
|---|---|---|
|||47,115|
|||31.5.23
£
1,980
4,642
16,625|
|||23,247|
Accruals and deferred income includes £15,066 (2023: £14,525) of deferred income for rent invoiced for a period following the year end.
Page 9
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2024**
## **12. MOVEMENT IN FUNDS**
|At 1.6.23
£
**Unrestricted funds**
General fund
1,275,153
**TOTAL FUNDS**
1,275,153
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
81,507
**TOTAL FUNDS**
81,507
**Comparatives for movement in funds**
At 1.6.22
£
**Unrestricted funds**
General fund
1,186,555
**TOTAL FUNDS**
1,186,555
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
119,018
(86,097)
**TOTAL FUNDS**
119,018
(86,097)||Net
movement
in funds
£
1,165
1,165
Resources
expended
£
(80,342)
(80,342)
Net
movement
in funds
£
88,598
88,598
Gains and
losses
£
55,677
55,677|At
31.5.24
£
1,276,318
1,276,318
Movement
in funds
£
1,165
1,165
At
31.5.23
£
1,275,153
1,275,153
Movement
in funds
£
88,598
88,598|
|---|---|---|---|
|||||
|||||
|||||
|||||
Page 10
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2024**
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 May 2024.
Page 11