**REGISTERED COMPANY NUMBER: 04871449 (England and Wales) REGISTERED CHARITY NUMBER: 1102801 REGISTERED CHARITY NUMBER: SC045860 (Scotland)**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **FOR**
## **MINHAJ-UL-QURAN INTERNATIONAL**
Hadleys & Co. Ground Floor Import Building 2 Clove Crescent London E14 2BE
**MINHAJ-UL-QURAN INTERNATIONAL**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Report of the Independent Auditors**|5|to|6|
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|to|18|
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 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**
## **Charity's status and objectives**
The organisation is a registered charity and was established by a trust deed made on 8th August 2003. The charity is governed under the Trust Deed and is controlled by the trustees.
The objectives of the charity as outlined in the Memorandum of Association include the following:
1. The relief of poverty, sickness, distress and suffering of any persons who are in need irrespective of their nationality, race, ethnic origin and religious beliefs 2. The advancement of other charitable purposes for the public benefit, to provide recreational facilities and activities in the interests of social welfare with the object of improving conditions of life for people in need.
3. The advancement of faith and religious practises of Islam
4. The advancement of religious and general education for the benefit of the public
## **Principal activities and Review**
The principal activity of the charity during the period was the advancement and teaching of the Muslim religion in the United Kingdom with particular emphasis on promoting facilities for the young and the elderly.
The charity has also begun to offer funeral services for their members.
## **Public benefit**
As a charity, Minhaj-Ul-Quran International shall be able to demonstrate that its objectives and activities are for the public benefit as required by the Charities Act 2011. The trustees have reviewed the guidance issued by the Charity Commission on public benefit and have ensured that the objectives and activities comply with this statutory requirement. The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission in datelining the activities undertaken by the charity.
This report explains our main activities and achievements in carrying out our aims.
## **Social investments**
Qur'an classes for the young continued throughout the year. Additional recitals were held as part of the 'Irfan-ul-Quran' programme.
## Interfaith Dialogues
Continued emphasis was laid on Interfaith Dialogues within the local community. True & peaceful picture of Islam was presented to the community via these dialogues. Other communities were also invited to the mosque to get more knowledge about Islam , this has helped a lot to bridge the gap within the faiths of the local community.
## **Education project**
Online E learning:
The charity has continued providing Online Islamic & language Classes. The Online Teaching facility is established at the head office in Pakistan from where qualified learned teachers provide one to one teaching to the students from all over the world. This project has helped Minhaj-Ul-Quran International to educate the community from different parts of the world, from all backgrounds and of any age. We aim to expand and put more resources into this project for more people to benefit. http://www.equranclass.com
Page 1
**MINHAJ-UL-QURAN INTERNATIONAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **OBJECTIVES AND ACTIVITIES Muslim Festivals**
Eid Festival:
The usual two Eid festivals were celebrated during the year and lectures were held to inform and educate the young. Various other educational and social events were also organised together with the celebration of the birthday of the Prophet Muhammad (peace be upon him).
## Rabi Ul Awal:
MQI celebrates the holy month of Rabi ul Awal with its best spirit and joy. From the 1st day to the 11th day special evening programs were organised for the community to participate and get the knowledge about the life of the Holy Prophet Muhammad (May Peace be Upon Him). On the 12th a large conference is organised for the Muslim community which are welcome from all over the country to celebrate the Birthday of the Holy Prophet Muhammad (May Peace be Upon Him).
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity continued its charitable activities throughout the year with a focus on education to the local youngsters.
## **FINANCIAL REVIEW**
## **Principal funding sources**
General donations.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equate to approximately three to five months unrestricted expenditure. This provides sufficient funds to cover management and administrative and other related costs. Unrestricted funds were maintained at approximately this level throughout the period.
## **Financial Review**
A summary of the results of the charity is given on pages 7 to 14 of the accounts. The trustees consider the progress during the year and the state of affairs to be satisfactory.
## **FUTURE PLANS**
The charity will continue its operations as usual in the future. All efforts will be made to consolidate the infrastructure of the charity through its branches in UK.
One of the largest project of Minhaj-ul-Quran International "Madinat al-Zahra" is in the initial stages of development with the aim of developing "A Centre of Excellence" comprising of multi-purpose communal provisions, as an educational complex for generations to come. An iconic contemporary Mosque is part of this project which will meet the needs of the local community as well as be a centre to integrate with other religions and build an atmosphere of harmony and brotherhood within the community. Educational and community services will be specially highlighted and it will also have residential accommodation and a commercial zone for the local community to benefit. The project will be encompassing a place of sanctuary for all our communities catering for the educational, welfare, spiritual and human needs of our community. Special care has been taken in the design concept to galvanise within our vision of Britain's Muslim communities as progressive and creative members of society meeting the modern demands of the time. "Madinat Al Zahrah" a project of Minhaj ul Quran International where we also aim to be a dynamic hub linking together all parts of the community as per our aims and objectives which have been renowned, applauded and celebrated locally, nationally and internationally. The project development shall take between 6-8 years to complete with the first phase already on ground with services already being rendered to the public.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
Organisation is a limited company by guarantee.
Page 2
**MINHAJ-UL-QURAN INTERNATIONAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees**
Appropriate training has been provided to the trustee appointed during the year.
## **Wider network**
The charity currently has seven centres, London, Manchester, Nelson, Bradford, Walsall, Birmingham and Glasgow with wider organisational setups in other cities / towns also.
## **Related parties**
The charity has a very close relationship with its sister charity Minhaj-ul-Quran Welfare Foundation (MWF) , Registered Charity No. 1084057. Two of the charity's trustee is also a trustee of MWF although both charities are completely independent in their activities, management and financial matters.
## **Risk Review**
The trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. The systems, controls and procedures are periodically reviewed to ensure that they still meet the needs of the charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
04871449 (England and Wales)
## **Registered Charity number**
1102801 SC045860 (Scotland)
## **Registered office**
292-296 Romford Road Forest Gate London E7 9HD
## **Trustees**
M Ali Company Director S Mursaleen Company Director O Ghani Company Director S A Khan Company Director
## **Company Secretary**
S A Khan
## **Auditors**
Hadleys & Co. Ground Floor Import Building 2 Clove Crescent London E14 2BE
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Minhaj-ul-quran International for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 3
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Hadleys & Co., will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 May 2025 and signed on its behalf by:
S A Khan - Trustee
Page 4
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MINHAJ-UL-QURAN INTERNATIONAL**
## **Opinion**
We have audited the financial statements of Minhaj-ul-quran International (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 19 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 5
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MINHAJ-UL-QURAN INTERNATIONAL**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.
- Reviewing minutes of meetings of those charged with governance.
- Reviewing internal audit reports.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008, and regulations made under Section 154 of that Act and Charities and Trustees Investments (Scotland) Act 2005 and Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Hadleys & Co. Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Ground Floor Import Building 2 Clove Crescent London E14 2BE
29 May 2025
Page 6
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Salaries
Social security costs
Rates and water
Insurance
Light and heat
Telephone and fax
Printing postage and stationery
Advertising
Bookshop purchases
Travel and subsistence
Community events
Cleaning
Repairs and maintenance
E Learning
Sundries
Education
Office admin
Funeral service expenses
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
2,368,238
572,879
294,703
3,235,820
334,477
20,103
40,511
19,506
106,417
5,843
20,892
1,232
153,357
25,508
267,296
4,073
55,677
245,683
34,289
39,281
195,393
-
184,524
1,754,062
1,481,758
7,087,052
8,568,810|Restricted
fund
£
-
60,800
-
60,800
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
43,563
-
43,563
17,237
510,549
527,786|2024
Total
funds
£
2,368,238
633,679
294,703
3,296,620
334,477
20,103
40,511
19,506
106,417
5,843
20,892
1,232
153,357
25,508
267,296
4,073
55,677
245,683
34,289
39,281
195,393
43,563
184,524
1,797,625
1,498,995
7,597,601
9,096,596|2023
Total
funds
£
1,686,216
652,612
350,047
2,688,875
286,764
17,502
49,375
15,511
112,463
5,670
13,905
7,121
54,744
19,466
300,149
5,206
104,664
266,860
15,166
542,585
152,758
24,606
193,590
2,188,105
500,770
7,096,831
7,597,601|
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **BALANCE SHEET 31 AUGUST 2024**
|Notes
**FIXED ASSETS**
Tangible assets
10
Investment property
11
**CURRENT ASSETS**
Stocks
12
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
15
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
6,212,143
2,159,229
8,371,372
124,322
70,760
962,589
1,157,671
(320,431)
837,240
9,208,612
(639,802)
8,568,810|
Restricted
fund
£
-
-
-
-
-
527,786
527,786
-
527,786
527,786
-
527,786|2024
Total
funds
£
6,212,143
2,159,229
8,371,372
124,322
70,760
1,490,375
1,685,457
(320,431)
1,365,026
9,736,398
(639,802)
9,096,596
8,568,810
527,786
9,096,596|2023
Total
funds
£
4,847,242
2,159,229
7,006,471
97,001
19,086
1,640,713
1,756,800
(517,570)
1,239,230
8,245,701
(648,100)
7,597,601
7,087,052
510,549
7,597,601|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The notes form part of these financial statements
continued...
Page 8
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **BALANCE SHEET - continued 31 AUGUST 2024**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2025 and were signed on its behalf by:
S A Khan - Trustee
The notes form part of these financial statements
Page 9
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of investment property
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2024
£
1,385,846
(35,903)
1,349,943
(1,503,127)
-
2,846
(1,500,281)
(150,338)
1,640,713
1,490,375|2023
£
872,967
(33,564)
839,403
(1,121,094)
(987,395)
772
(2,107,717)
(1,268,314)
2,909,027
1,640,713|
|---|---|---|
The notes form part of these financial statements
Page 10
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Interest paid
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Decrease in creditors
**Net cash provided by operations**|2024
£
1,498,995
138,227
(2,846)
35,903
(27,321)
(51,674)
(205,438)
1,385,846|2023
£
500,770
116,058
(772)
33,564
4,955
225,137
(6,745)
872,967|
|---|---|---|
## **2.**
## **ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank and in hand
**Debt**
Debts falling due within 1 year
Debts falling due after 1 year
**Total**|At 1.9.23
£
1,640,713
1,640,713
(19,075)
(648,100)
(667,175)
973,538|Cash flow
£
(150,338)
(150,338)
(1,205)
8,298
7,093
(143,245)|At 31.8.24
£
1,490,375
1,490,375
(20,280)
(639,802)
(660,082)
830,293|
|---|---|---|---|
The notes form part of these financial statements
Page 11
**MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared under the historical cost convention and include the results of the charity's operations which are described in the trustees report and all of which are continuing.
The financial statements have been prepared in accordance with the Charities Act 2011 and requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities".
The charity has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small charity.
## **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 cost 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.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
continued...
Page 12
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **2. DONATIONS AND LEGACIES**
|Donations
Gift aid
**3.**
**OTHER TRADING ACTIVITIES**
Bookshop income
Funeral services
Other income
E-Learning and education
Subscriptions and events
**4.**
**INVESTMENT INCOME**
Rents received
Gift aid interest
**5.**
**CHARITABLE ACTIVITIES COSTS**
Salaries
Social security costs
Rates and water
Insurance
Light and heat
Telephone and fax
Printing postage and stationery
Advertising
Bookshop purchases
Travel and subsistence
Community events
Cleaning
Repairs and maintenance
E Learning
Sundries
Education
Office admin
Funeral service expenses|2024
£
2,241,561
126,677
2,368,238
2024
£
74,535
60,800
23,460
377,079
97,805
633,679
2024
£
291,857
2,846
294,703|2023
£
1,683,084
3,132
1,686,216
2023
£
47,699
66,997
16,938
407,837
113,141
652,612
2023
£
349,275
772
350,047
Direct
Costs
£
334,477
20,103
40,511
19,506
106,417
5,843
20,892
1,232
153,357
25,508
267,296
4,073
55,677
245,683
34,289
39,281
195,393
43,563
1,613,101|
|---|---|---|
||||
continued...
Page 13
**MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **6. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
|Governance
Management
costs
£
£
Other resources expended
138,227
10,394
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
2024
£
Auditors' remuneration
5,800
Auditors' remuneration for non audit work
3,000
Depreciation - owned assets
138,226|Totals
£
148,621|
||2023
£
5,800
3,000
116,060|
## **7. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
## **9. STAFF COSTS**
|Wages and salaries
Social security costs
Pension
The average monthly number of employees for the year was as follows:
Administration
Teaching and fundraising
Total|2024
£
334,477
15,284
4,819
354,580
2024
13
68
81|2023
£
286,764
13,044
4,458
304,266
2023
9
61
70|
|---|---|---|
£245,683 is related directly to education classes which is reflected within the relevant category of education.No employees received emoluments in excess of £60,000 during the year.
continued...
Page 14
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 September 2023
Additions
At 31 August 2024
**DEPRECIATION**
At 1 September 2023
Charge for year
At 31 August 2024
**NET BOOK VALUE**
At 31 August 2024
At 31 August 2023
**11.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 September 2023
and 31 August 2024
**NET BOOK VALUE**
At 31 August 2024
At 31 August 2023|Freehold
property
£
5,661,379
1,484,865
7,146,244
918,723
119,800
1,038,523
6,107,721
4,742,656
|Plant and
machinery
£
27,500
-
27,500
10,612
2,533
13,145
14,355
16,888|Fixtures
and
fittings
£
170,941
818
171,759
142,709
4,357
147,066
24,693
28,232|Computer
equipment
£
184,107
17,444
201,551
124,641
11,536
136,177
65,374
59,466|Totals
£
6,043,927
1,503,127
7,547,054
1,196,685
138,226
1,334,911
6,212,143
4,847,242
£
2,159,229
2,159,229
2,159,229|
|---|---|---|---|---|---|
Properties have been reclassified from land and buildings to investment properties during the year.
|**12.**
**STOCKS**
Finished goods
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments and accrued income
Prepayments||2024
£
124,322
2024
£
5,200
52,383
13,177
70,760||2023
£
97,001
2023
£
8,920
-
10,166
19,086|
|---|---|---|---|---|
||||||
continued...
Page 15
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
|**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2024
£
Bank loans and overdrafts (see note 16)
20,280
Social security and other taxes
7,304
Other creditors
250,769
Wages
32,084
Pensions
1,194
Accrued expenses
8,800
320,431
**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2024
£
Bank loans (see note 16)
639,802
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due within one year on demand:
Bank loans
20,280
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
639,802
**17.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.23
in funds
£
£
**Unrestricted funds**
General fund
7,087,052
1,481,758
**Restricted funds**
Restricted fund
510,549
17,237
**TOTAL FUNDS**
7,597,601
1,498,995|2023
£
19,075
7,084
453,395
28,326
890
8,800
517,570
2023
£
648,100
2023
£
19,075
648,100
At
31.8.24
£
8,568,810
527,786
9,096,596|
|---|---|
continued...
Page 16
## **MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are a
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
3,235,820
60,800
3,296,620
At 1.9.22
£
6,620,206
476,625
7,096,831
s follows:
Incoming
resources
£
2,630,345
58,530
2,688,875|Resources
expended
£
(1,754,062)
(43,563)
(1,797,625)
Net
movement
in funds
£
466,846
33,924
500,770
Resources
expended
£
(2,163,499)
(24,606)
(2,188,105)|Movement
in funds
£
1,481,758
17,237
1,498,995
At
31.8.23
£
7,087,052
510,549
7,597,601
Movement
in funds
£
466,846
33,924
500,770|
|---|---|---|---|
continued...
Page 17
**MINHAJ-UL-QURAN INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1.9.22
£
6,620,206
476,625
7,096,831|Net
movement
in funds
£
1,948,604
51,161
1,999,765|At
31.8.24
£
8,568,810
527,786|
|---|---|---|---|
||||9,096,596|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
5,866,165
119,330
5,985,495|Resources
expended
£
(3,917,561)
(68,169)
(3,985,730)|Movement
in funds
£
1,948,604
51,161|
|---|---|---|---|
||||1,999,765|
## **18. RELATED PARTY DISCLOSURES**
The trustee, Mr S A Khan is a director of an insurance broker, the transaction between the two companies in the period totalled £18,354 (2023: £15,048).
## **19. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES**
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
Page 18