Company Registration NuMl￿- 5567478 The Charity Registration NUMt￿ 1$ :_ 11199T7 Muslim Research and Developement Foundation Report and Accounts 31 December 2023 rrrdF Musllm R•s8arch and D8v•lopèmènt Foundatlon Report and accounts for the year ended 311)ecember 2023 Contents Pago Charity infomiation Trustse8' Annual Roport Ststsmont of diroctor8' rn8pon8ibiliti88 Accountsnts. report 16 18 Funds Statements... Staternent of Financial Ath"￿t￿s Movernents in lund5 21 Revenue Fund5 21 Incomt and Exp•ndilur• account 22 Balance #heet Calh Iltsw 8tatsm•nt 23 24 Not•8 10 th• •¢¢oun Muslim Research and Developement Foundation Company Registration Number- 5567478 Trustees, Annual Report for the year ended 31 December 2023 The Trustees present their Report and Accounts forthe year ended 31 Decemter 2023, which also comprises the Directors, Resx)rt required by the CoMpaTh￿S Act 2(￿. Reference and administrative details The charity name. The legal narne of th8 chanty is'.- Muslirn Research and Oevelop8ment Found8￿.0n. The charity is a150 known by its operating narne, MRDF. The charity'$ areas operation and UK chaiitable regi5tsaiion. The charity Is registered in England & Wa￿$ ￿1h Ihe Chanty Commission In England & Wal&s ICCEW wrth chanty number 1119977. The chanty does not cwrate in any overseasjuri5dictions. However it ha5 Partners. which it supports in Denmark, Gemiany, Norway. Swed&n. 8 The Neth8rf8ThI$. Legal 5tnKture ofthe charfty Thè chanty 15 constrtuted as a cornpany limited by guaranlO*. registered under the Cornpanie5 Acl$. The goveming docurr*nt ol the chanty is the Memorandurn aTrJ Artides of A550aats"on e5tabli5hing th8 cornpany under company ￿giSla*'0n. The governin9 document Is dated 03 June 2CQ7 There are no restnctions in the goveming drKuments on the OFef8bon of th& Charity or on it5 investment powers other than those imposed by Charity L￿. By operation of law all, Iru5188s are diredots under the ceffjpan￿ Act and all directors a tru5188s under Ch3rrtN8s189islalion and have responsibilrti&s. a5 such, under bolh company 8nd charity legislation. Thg trustees are all indi¥KlualJ. Th• prln¢lp•l opgrallno •ddrn••, t•l•phon• numb•r. •m•ll •nd w•b •ddr•••M of tho ¢h•rfty 56 Greenfield Road London E1 1EJ T•￿phOn0 0203 248 0072 Email Address enquiries@mrdf.co.uk Web address www.mrdf.co.uk The registered office ol the charity lor Companie5 Act purposes is the same as the op8rafr' address shown above. Th• Tru#t•o8 in offic• on th• dat• th• Y•port w•# *ppm•d w•rn:. M Khalid F Haibalan Y Patel Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 The following pÈY80n8 8eThed as Trustees during thè year ènded 31 December 2023 :. The trustees who Served as a trustee In the reporting penod were 85 shown above. and the were no changes during the year, or in the period beknn the yearend and the approval of the accounts. At the Annual General Meeb'ng all the Truslees retirg as tru$te8s. but are elvJiblg for reappoinbnent. All th& trustees are also members of Ihe charity. Objects and activities of the charity The purposes of the charity as set outin its governing document. The Charity's objectives and principal athivrties as sei out In the Memorandum and Articles of Association continue to be that of". 11 To faalitate the development of leadership skills within the Muslim communty. 21 The advancement of research into Islamic solutions lo challenges faced by Muslin$ mmunit'es, as ￿11 as thg general population In Ihe UK. 31 To facjlitsts Mu$lim$ furthenn9 ￿1r kn¢iwled9e. 41 To pr￿V¢e Islamic media. 51 To undertake any Charitablv acbvrty in pursuit ol th• abov• ¢)bJttkn￿s. Th• maln aetlvlll•s und•rtak•n In r•lallon to thos•purpos•s durlng th• y•ar. 11 The provision of over 23 Sabeel Retr8ats in the per*)J. 21 To provision gf 6 Sihaob weekend retreats in the period. 31 The provision of 7 Sabeel & Sihaab In-person and online 6eminar8. 41 The publicabon of 2 new txJ)k$ and repnnling of another. 2023- Continiulftg the ¢yke ofgrowth and stability By the grace and rnercy ofAllah. 2023 ernerged 35 a rnilestone year for the Muslim Research & Oevelownenl Foundation. Reflecting on the past months. it is dear Ihat our efforts were not only de$pread but al$0 deeply impa¢rful. serving 8$ a bea￿Tr of hope and 9UIdan￿ for the Muslim community. Our afforts were markod by a wide a￿aY of ImpacthJl programmès, wlh thè Sabeel and Sihaab retreat5 stsnding out as Significant mile51ones. These r8tr88ts. which attracted participants frorn diverse backgrounds, provided enriching Opportuni￿'e5 lor individuals to deepen their kno¥￿edge of Islamic prinCip￿S and Cul￿Vate a rnore profound spiritual connection. By addressing vital topics $u¢h as the principles & etiquettes of disagreement and the foundations of understsnding, the ret￿ets veated a dynami¢ space for t¥)Ih leamiry and pewnal ￿￿th"On. The Sabeel and Sihaab prograrllmes are desig[￿ not only as cultwafron ItaTbiyyahl prografflrnes but as immerswe experiences where partiupants eTrJage In f￿anI￿alU1 disoJssion5 and develop a holistic approach to Iheir failh. This cornprehensive blend of intelkntual engagement and spiritual grolth equipped attendees with the tools to apply Islamic teathiThJs in their everyday lives. making these retreats a vital part of MRDPS mission to foster understanding practi￿ of the faith. Muslim Research and Developement Foundation Company Registration Number- 5567478 Trustees, Annual Report for the year ended 31 December 2023 In addition to these retreats, MRDF'S broader educational inrtiabves Continued to thrive. reaching thousands of Individuals through *u￿$ and tslks delivered by renLwi￿l scholars. These sessions. particularfy those held dunrKJ Ratnadan and Hajj season, We￿ not only wdl-attended bul provided participants with Invaluable Insight5 on how to na¥Agate the complexities of modern life Whi￿ maintaining a strong connection to their religious beliets. Whether exploring the nuances of daily worship or the deeper meanings of spinlual prathces, these talks served as guiding bgacons for those seeking tri liv& by Islam￿ v81ues in a contemporary uJnt8Xt. This multr'facAted approath to edu¢8tion and personal g￿th exemplifies MRDF'S ￿MMI￿￿eTht to being a leading force In bolh I￿arn¢ scholafship and cts7)munrty devebpment. ensuring that its work ￿SonaleS dee￿Y wth the nee(l$ a￿1 aspirations ofthe Muslim community. Aédibonalty. our Fatwa Line Service responded to over 1.7CK) queries. providiryj petsonalised religious guKlant and supporting Individuals in rnaking infO￿ed deo5ions grounded in 151amic teaching5. This service has become an essential resource lor both Muslims non-muslims seeking darity OTh religious matters. Moreover, MRDF'S conlribution to personal fath learning fiourishe(I wlh the publication of signif1¢anl works. induding Friday Reminder Book and The Heart of the Qur'an. These publica￿on$ have been Instrumental in rturtun￿ the spiritual develepment Of the community, making Islamic kno%*ledge and more importantly Ihe concept of self refiethon and growth accessible to all. Financially. despite facJn9 a modest deficrt. MRDF remains ￿lI￿nt. wrth an income of £876.316. This funding supported our mission. allowing US to run impactful prOgramft￿ss and continue our work. thank$ In no small part lo Ihe eoniributw)n$ of over 30 d8di¢aied volunleefs who ensured our athvits•s ran sm¢XJthly. In 2023, we made a signrficant comrnitmgnt to expanding our outreach by investing in a deeper more ag1￿ marketing strategy. This inveslmeTht amounted to over £55,OCK). a substantial increase from the £28.000 we allocated in 2022. The addrtional funding wa$ aimed at enhanring our di9itsl presence, increasin9 awareness of our pro9rammes. and en$urin9 that our servi￿$ rea¢hecJ der audience. 8y tx)osling our markebThJ efforts. aimed 10 St￿n91hen our engagement wrth the community. attract moro partscipants to our inrtia￿￿S. and ￿￿"mat*1Y support th• growth and sustainability cf MROF'S rni55ion. Lookiro ahead. MROF 18 ￿￿pC6￿0[￿d to further expaTrJ it8 8ervice5 and continue to serve a8 a guiding ligm for the Muslim community, en$urirMJ Ihat all ourwth remain$ in line *ith our mission to promote compassion. iu$11￿. and mercy. Sal>g¢1 & Slhaab Cultlvallgn Retr￿ts.. Nurturbng Knowlgdg• •nd Splrltuo11ty A 5ignrficanl achiev8rnent In recent years has been the success and expan510n of our Sab881 and Sihaab cultivation retreats. These retreats ￿re developed in response to the growing demand for spa￿8 that combine religious education wilh spirilual nourishment. offering paitiapants a unique experience that fosters bolh intellectual growth and personal rejuvenation. In 2023 alone, MRDF organised mulbpk ￿￿ats. ead) fofwsing on different aspects of Islam principles. cultivation and spiritual growlh. These events drew partiopants fr(m all walks of life. providing theffj swth a ts￿n￿ of study, S￿ritUal d15COUt5e, and reffeL*on. The retreat5, such a5 those held for the Sabeel and Sihaab cohorts. became plaffomis %%there Individua15 could enga9e in deep leaming and spiritual connection, fostering both personal grovrth and a strong sense of community. Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 On the 20th and 21st of January, Sihaab Cohort 2 gathere(I to explore the con￿pt of 'U5uI A- Fahm,. focusing on the pnnoples of understanding IS1￿1C thought. This vrds followed by a retreat in FebNary, where Sabeel Cohort 8 dew into Ihe area of'maslaha & Maqashy, on the 17th and 18th, uncovering the objectives of Islamic law and its applirAt'on to modem-day issues. Similarfy. July 2023 saw the sam& cohort engage vAth the cnbc21 tcpic of'usul ￿-KhIlar. providing parti¢ipanls wrth invaluable inS￿h¢S Into the prinuples of disagreement ￿1h1n the l$lami¢ trad￿"on. In November. Ihe focus shifted to'usul Al-Bidah', as patbcipants from Sabeel Cohort 8 explored the principles surroundin9 religiou5 Interpretstion and Innovation over Iwo days Meanwhile. Sihaab Cohort 6, meeting on the 24th and 25th of February. Imrnersed thernselve5 in the groundbreaking'usul AkTafsirf topic. gaining a deeper understanding of th8 Qurfanic eK8gesi5 something Ihat MRDF has come to specialise since its inception. A5 the year progressed. Sztttl Cohort 9, on Ihe 17th and 1&h of March. tathled the foundation81 fidd of'ulum AkQuran', delving into the saences of the QurfaTh. 8y mid-surnmer, on the 21st and 22nd of July, the cohort revisited the Iherne of 'Usul AkBidah'. enriching their comprehension of religious innovation and understanding. To dose the year, Sabeel Cohort 10 reconvened on the 15th and 18th of December for another session focused on 'Usul Al-Bidah'. These retreats were not merely aeademic and bme lo bring about brothert)ood sisterhood but w•r8 also designed as sanctua￿$ for personal refleciien and spintual rejuvenation. Partiupants W8r8 able to temporarity step away frcrn the demand5 of Ihwr daily lives. imrnersing them58lve5 in tranquil settings where they could reconnecl wth their Creator. The carefully curated environments fostered o sense of unity, bonds of brothethood and si$lerhood ￿re formed a$ parti¢iponl$ shared In thoir colb¢bve ieamin9 and spinlu* exwences. Tho suetèss o1th0￿ r•trt8ts in 2023 urthrseffts MROF'S eeffjmrfmènt its provhling transfomiative educational experiences that *Jdress both the intellectual and spiritual r*eds of tha community. With hundred$ of parbcipants across variou$ cohorts. MRDF ¢ontinues to establish itseK as a key inst'tution in promotin9 l$lami¢ leaming. ¥Jirilual gr¢)vrth. and communty cohesion. Guidance and Support- L•aming and growing to iupportthe MuBlim Community In 2023. MRDF continued to play a pivotal role In provKJing essential guidance and support to Ih Muslim community In the UK. addressir¥J the diverse and complex challen9es that individuals and families face. Fmm mental heatth wncem$ to navwJating identity in a rapKlly evolvin9 socw. we recognized the muttifaceled nature of tI￿Se strLKJ9les arKI worked diligently10 olftrr support that was both spiribjally ennching arKI prathcalty rtlevanL To meet thwde r￿ed$. MRDF expanded its efforts by con￿'nuing to offer a wide range of taik)red initiatives through seminars. workshops. and or￿On-C￿e support sessions. These initiative8 were ¢8￿fullY designed to address modern ChaI￿nge$ vthile remaining fim)ly rooted in Islami¢ teachings Whether through providin9 ￿unselln9 to individuals faung personal ¢nses, organoing workshop5 on navigating the challenge5 of parenbng in the digitsl age. or hosting seminars on financial literacy fr￿? an I￿arnIC perspective, MRDF ensurvd that our cornmunity had 4cce55 to resources that could make a tsr@Ib￿ difference In their lives. Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 In addition, 2023 saw significant growth In our online p￿Sence as ￿ embraced the digital spac to reath a wder audiert￿ RewnEing imwrtan¢e tsf the virtual wodd in delivering SUPPOrt and education, ￿ enhance(l our offenry5 through wEbinars. online courses. and interactive sessions. This shrft ensured that geographical distantr Vds no longer a barner for those seeking knowledge, guidance. or supportfrom MRDF. The expanded Onli￿ platfomi allowed us to engage with a broader segment of the community. providing fiexible. ac£essible opbons for people across the UK and beyond to connect with our resources. Through these efforts, MRDF ￿a￿lm)e￿ ts commitment to being a reliable Sour￿ of support and guidance, helping to st￿ngthen the fabn¢ of Ihe Muslim e(K￿munity by ottenng sdutions that sonate wrth the ￿aI￿leS ol conteffwrary lrfe wthik ￿)h0￿ing the prinople$ of Islamit teathings. The main activities undertaken during the year to further the charitys pU￿05e for the public benefit. In 2023. MRDF set OLrt a series of stratsg¢ obJ"eeiives to further its mission Of supportsng the Muslim cornmunity through education, spirrtual devd¢Jpmenl, and personal guidance. These objectives were shaped by the evolving needs of the cornrnunity, particulady as the organisation adapted to posl-pandernic realities. wlh an emphasis on sustaiThabilty. acw$ibility, and c¢mmunity impact. The main ¢bJ'ective$ for Ihe year Induded.. al Expa￿ling aThJ Enhanung Cknline and In•Pernon Seryic88". Following the Success of transitioning servic•s to online plaiforms during th• pandamic. MRDF airned lo enhance its hybnd model In 2023. Th1$ induded irnproving the quality and reach of online educational conlenl, webinars, and inleraclive sessions. while also reintroducing in-person events and relreals, such as the wdety attended Sabeel and Sihaab Pr￿ramMes. These events allowed MRDF lo engage ) broader audience bolh lo¢ally an(1 internationally. ￿tsring to tho$e who $ought in-person inter8thon as 8$ those preferred or required wrtual access. bl Oplimising Fundraising Siraiegies for Key Campaigns". Building on the succes51ul fundraising campaigns of previous y•ats. MRDF eoniinu•d to èmploy range of strategies to support ils prcgrammes. particularfy during Ramadan 2023. The fundraising efforts were aligned with the charity's broader goal of financial sustsinability, ulilising both online platform$ and communty engagement to maxjmise donabons. By engaging user groups and donors throu9h online appeal$, events. and sorial media. MRDF was able to meet rts fvndrai6ing targets and support its key Initiatives. ¢1 Maintaining Financjal Stability and Minimi$iTrJ Defieits". A key financial objective tr 2023 wa$ to pnoritsse a stsble financial foob"n9 while maintsinin9 8 focus on debt odu¢iion MRDF aimed ￿ ensure an adequate working balance throughout th year, particularly during the fir51 quarter of 2023. to prevenl any end of year defiots. whi￿ a Small d8ficit was recorded, the charity remained cornrnilled lo ach18ving finanoal hearth through prudent fiscal rnan8g8rnent, allrMiThJ rt to contsnue delivering hvJh-qualty 58rvices %wthout fi'nanaal strain. dl Strengthening Collaborab"oD wilh P*Ton5 ar¥J Stakehokjets". In 2023, MRDF placed a renewyd focu5 on 8ngaying wnih its donors. seNic8 users and stakeholders to understand their evofving needs. This Collabora￿'ve approach wa5 cruaal in lailoriThJ educational programrnes and guidan￿ to adjress contemporary challenges fac￿ by the Muslim community. from financial literacy to ￿￿ntaI heath and parenting in the digrtal age. Feedback from these ¢ollaborabons direcdy infomw the deS￿n and delivery of MRDF'S seNiw. ensunng they We￿ relevant and impa(alul. Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 el Refining arKI Cc¥nmuni¢ab"n9 tt* ChJrty'S Vision and Mission". A central obieLlive in 2023 wa5 to refine MRDF'S vision and rnission in alignment with it5 core values of compassion, justice, and ￿rcy. This process involved dear communication of the charity's strategic direction lo its staff, volunleers, stakeholders. By doing so, MRDF ensured that all members of the organisa*'on w*re Unif￿ in their understanding of the charity's goals and the vital role they played in achieving them. This alignment helped to strengthen intemal cohesion and fo¢us, driving the ¢harity'$ Inib"atives forward with darity and purrK)se. The trustees have had ward to Chanty C¢rnission's gwdance on pu￿1¢ benefit In managiNJ th8 activitie5 of the charty. Public Benelit.. Inclwsivifj, owdAcces5 21123 Our efforb in 2023 remained fim)Iy 9founded in our thantaNe rt4eth'ves. wth a primary focus on benefiting the Muslim community while beiNJ open and indusive to the broader public. As an or9anisation, 1st are comm￿ed 10 addressing the ehallenges faod by Irwjividuals and families, and we have consistentty worked to offer guidance and support through education. 5PiritU81 nOurish￿￿n1, and personal developmenl. This mission has become rnore crua81 than ever 8S address the evofving needs of Ihe community, particulady ITh face of ongoirvj soaetal thallenge$. In 2023. ￿ built upon the innovative approache¥ adopted during Ihe parhYemTc in 2020. wntinuing to expand our online offerings and hybrid models to ensure Ihat our seNice$ remainecj accessible to all. Our Sabeel and Sihaab ￿treats, *tJrtshops. seminars, and digital ¢onlenl allowed participants Ir(xr across the UK and even intemabonally 10 engag& wi¢h our prograMft￿S. These efforts were bolster•d by eollaborati¢)ns wilh Europ•8n path•ts. fUrth•r•￿and•￿j tho r•aeh of MRDF'5 mi55ion. Our transparent policies and dedication tg accessibility ensure th8t no one is ex￿￿ed from benefitin9 from our serYic*s due to financial hardship. We rwnain $leadfa$l in our commrtment lo indusivity, ensuring that all individuals. regardless of their e¢￿0M1¢ orcumstances. have the opportunity to participate In our prOgramft￿$. In 2023. this coMmth￿nl was refiected thrOL￿h s•v•rAI initiativ•s that prioiilis•d ￿￿$SI￿11ty. 11 Affordable and Transparent Fee Strudures.. Our fee policies remained aligned with our thantable mission. offenng se￿￿$ al an appropriale entry-level Cost. While St￿ne services generate Income. they do $0 under a system of prq)ortional discounts. All fees We￿ approved by the Iruslees to ensu￿ they romain lair arKI accessth, adhenrvj to our prinuple of minimising ¢¢Sts wherever pos51ble. 21 Discounts for Studen¢s and Low-lncome Indivhluals.. We continued to provi￿ 58tdiscounts for students and those on low incomes. ensuring that Ihe8e groups lully partiapate in our programmes wthout faung financial barriers. 31 Inslalmenl Plans for Financial Flexits"lty Forthose unabk to the lull cost of an actNity or service, we offered flexible In5ts1ment p13n5. These plans were tsilored to Fneet the partiupant's financial 51tuation, allowng them lo pay over In an agr88d upon manner. In cases where participants faced significant financial hardship. addthonal provisions were made. with approval from the trustees, to waive or deler payThents io ensure no one was eXd￿ du8 to their finanaal Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 Our focus on public and accessiknlrty is underpinned by a bel￿1 that financial Constraints shtsuld never be a barner to benefibng from our Servi￿$. We tthe pride in maintainiry rigorous thecks lo ensure that any benefrt5, whether material or otherwise. provided to ttustee5, meTrbeT5, or participants, ar8 Incidentsl and available to the general pU￿1C on the same tenrs. The slh7rt term and longer temi aims andobiectNes. In 2023, MRDF'S key short lemi & longer temi objethves focused oTh'. 11 Expanding and enhancing bDth online and In person sÈrvi(*s. This involved improving the quality and reach of their digrtal e(lu¢ats"onal offenryjs, Whi￿ also ￿introdu￿n9 successful inperson events and retreats. such as the Sabeel and Sihaab pro9ram$, which attracted $19nifi¢ant participation frem local and international ¢¢mmunth"tts. 21 MRDF, additionally aimed lo ￿timiSe rts fvndraising 51rat8gi8s, particularfy during key campavJns like Ramadan, to ensur8 finanual sustainats'lity. 31 MRDF also aimed lo mainlain finanrjal stsbilrty by minimoin9 defiots and ir￿reaSir collaboration with donors, stskehoklers. aThJ other communrty ft*mbers. 41 Thè charity Also sought lo and ccrnunicate its mwin and visiM. ensuring that initiatives resonate deeply with the Mu51irn cornrnunty. lostering a strong and united front through compassion. justice. and mercy. Tho charlty's strat•gl•s for aehlevlng Its alms andobJectfv•s In tho futurn. In 2023. MRDF ernployed several key 51rale9185 lo achieve its objectives. focusing on enhèntsng digital serwic8S, Strength8nirYJ Collabora￿0￿5, and ensuring financial st8bilty.' al Enh8n¢ing Digital Plarfomis.. MRDF invested In upgradin9 rts online plaffomis to provKle seamless expertences for wtbinars. virtual workshops, and online courses. makin9 Its semces accessib￿ lo a wthr audienc*. bl Str•ngth•ning P8rtn•tships. Collaborations wth UK-based Muslim charitKps ￿re deepened to expand MROF'5 reach and impact, allowing joint initiatives and resource sharing to better se￿e the community. ¢1 OptrmisiThJ Fundrai$in9 Pl8tfomi$' MRDF partnered wth kading online fundraisin9 platf0m￿ to streamline Ihe donor experien￿, increasing engagernent and donabons dunffj key carywigns like Ramadan. dl Engaging Volunteers.. Volunteers ￿re athvely involved in addressing the inc¥easing dernand lor online educational services, helping to support and enhance prc#3ramrre delivery. el EXpa￿ling Online COu￿e OlfenThJs Building on p￿viouS Inthatives. MRDF explLYed new Onli￿ ￿utse$. tsan$itsoning fr(Yn in-person to digital delivery lo meet the cornmunitys evofving need5. Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 How the activities undertaken during the year contrilwted to the achievementof the aims and objectives. In 2023. MRDF'S Influence wthin the Muslim community greweven stronger, wth its contributions extending far beyond events and programmes to bewne essential pillars of $uppor¢ edu¢ation. and guidance. At the Core of this success was MRDF'S sleadfa$i commitrnent to its values of ¢orvp85510n. justice, and education. enabling the charty to address divetse and complex challenges faced by IrKJividua15 and families t￿JaY. MRDF'S holistic aFproach ensured that its ini*'atives covered [￿t onty spiribjal development but also crucial areas such as famity life. building an Ummah r*ntric mindset and gaining a cjear 'Akirah-centri¢' fo¢u$ in life. Frryn Ihe Sabeel and Sihaab ￿treats to the Fatwa Line service. the chanty provided Solutions rooted In Islamic teachings and l$lami¢ trwjilion. vthile remaining relevant to the mollern day Issues afte¢iing the Community. The engagement of over 1,700 individuals through the Fa￿a bne alone demonstrate5 MRDF'S role as a trusted source of guidanc8 and personal support A key factor in the succ4ss of MRDF'$ obJec*ves was its fow$ on ￿llaborats.0n and partnership. Wortin9 cjosely with scholars. commursity leaders. an(1 likwiincleil or9ani6alion6, MRDF created a unified ￿$*Y)n58 to the challenges fxing the Muslim c(Th7)unity. The partnership enabled the thanty to extend its reach and deliver educabonal programme$ that We￿ accessible, Impactful, and Catsreil to pe¢¥Ae from all walks of life ancl levels of religious understanding, In 2023. MRDF also made $19nifi¢ant progr•ss in u￿11$in9 lechnology to enttan￿ its seNIc8s. By expanding its digital presence through ￿binaT$. online cour58s. and virtual workshop5, MRDF ensured that ils educational and spirilual 5UPPOrt was available to a much wider audience, regardless of location. This hybrid approach allowed the charity to engage thousands of porti¢ipanl$ in key events throu9hout the year, $u¢h a$ the Sabeel ond Sihaab retreats. Feedback from Indiwduals, families. and c(mmunity le•Jers reinforced MRDF'$ status as a vital sourte ol supw)rt. To many, MRDF was not just a charrtabkn organisation blrt a b•8￿n ol hopo, offèring guhlance and wi5dorn to navigate the cOrnp￿￿￿5 of rrKrfJern life. ResouT¢e$ used in the a¢bvities undertaken Iluring the ￿r. Th8 rescurce5 used in the year to lurther lh8 tha11￿8$ ¢*Jeth¥e$ are det8i18d in the incomè statement and the finanoal review. The Charty incurred £6(6,158 on direct cost of charrtiable activities. along with the invaluèble support of the volunleer8. The contrib￿lon of volunteern during the year. In 2023. MRDF'S vdunleer base played an increasingly vital role In supporting our expanding range of both digitsl and In-Ferson athvibes. voluntee￿ r&nained badtbone of the or9anisation, ensuring that our servi￿& could rea¢h Ihe ￿￿er community. Their unwavenn9 dedication rnaile it possible to delNerthe t*eaLfth of programmes * olfer. from retreats to online educational 5e5sions. A5 we ernbraced a hybrid model of service d81wery, the need for volunteers with digital expertise becarne even rnore critical. Over 30 volunteers contributed their ￿'me and skills throughout the year. working alongside our central learn to ensure the seamless execution of events. whether in person or online. Followng the surge In vdunteer engagement seen In prewous years. 2023 saw ¢onbnued enthusia$m and path¢ipab"on. particularfy as resumed In-person events alongside our ongoing digital inrtiab"ve5. Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 The main achievements and performance ofthe charity during the year. A Summary of the main activities of thanty and athievements in Ihe year were.. 11 Maintaining 4 cy¢k$ of the Sabeel development pr(wJramme ￿1h1n the UK. 21 Maintaining 3 ¢y¢les of Sihaab ￿treats pr(x)ramme in UK 31 Offering support and experbse In the delivery of our tsrbiyyah {Cu￿"¥>bOn) Servi￿ to our associates in Denmark. Holland, and Gertnany. 41 Helping our support8d partners In Euro￿ delNer 14 retreats Ihroughout 2023. 51 Providing educational service5 to key endorsed projects.. a Muslim Youth Initiativ8 IMYII.. Provhled syllabus guid8nc8 to equip young Muslims wilh relevant and Impa¢tful knovAedgÈ. b.Family Events Contributed ¢onlent and direcbon retreats. fostering L1i$cussions on Islamic values and family growth. c.151arnic Council". Supplied Shana tonsuhants to off8rexpert advice and guidants on Islamic matters. 61, Fa￿a line,, the only UK national phorfrin 5WWiC8 lor Sharia guhlance. AnsweriTrJ over 1,713 Ils in 2023. Factor8 relevant to the achievement of the charity's objectsves In 2023. MRDF'S Influence wthin th8 Muslim community grew even strongor. wth its ￿ntributionS extending lar beyond events and programmes to beco7)e essentsal pillars of support, edu￿tiOn. and guidance. At the Core of this success was MRDF'S sleathasl c(xnmitrrnnl lo its values of compassion. iustico, and educalion. •nabling Ihts charity 10 addrtss tha divew and com￿6X th8ll•ngts laeed by individuals and familiès ttsjay. MRDF'S holistic approach ensureil that its Inibalives covered not only spintual development but also erucial areas such as family Iile. buikJin9 an Ummah centrt mindsei and gaining a clear 'Akhirah-centric' f¢XUS in life. Frorn the Sabeel and Sihaab retreats io Ihe Fa￿a Line Se￿Ie8, th charity provided solution5 rooted in151amic teaching5 and Islarnic tradition, while remaining relevant to the modern day issues affecting the cornmunity. The eThgagernenl of over 1.700 individu818 thrgugh the FaN¥a Ling al0￿ ¢emwstra¢e$ MRDF'$ aB a tru$led Sou￿8 of 9uidance and personal support A key factor In the SUCfA8SS of MFIDF'S objecbves w¥$ rts loc￿ on ce41abor8bon and partnership. Wothing dosely with scholars. comrnunity lea¢Jers. and Iike-rnind8d organ15ation5, MROF created unified response to the challenges facing the Muslim community. These partnerships enabled the charity to eklend its reach and deliver educational prLyJrammes that w*re a￿SsIble, impactful, and cotered to people from all walL$ of lrfe aTrJ levels gf relIg￿u$ understandiry. In 2023. MRDF also m•Je $snrficant progress in ubltsing te¢hnolo9y to enhance its serwices. 8y expanding its digital p￿Sence Ihrough ￿*binats. online courses. and wrtual workshops, MRDF ensured that Ils educational and spintual 5UPkK)rt wa5 available to a rnuch wider audienc•, regard18S5 01 location. Thks hybnd approach allowed th8 chanty to engage thousands of participants in key events throughout the year, such as the Sateel and Sihaab retreats. FeedbadL from indwM1ual$. families. and rxyM)unty kaders ￿infor￿ MRDP$ $tatu$ as a vital source of support To many. MRDF was not just a Charitsb￿ organi$atKJn txrt a beacon of hope. offering gUKlan￿ and wsdom to navigate Compkx￿es of m(thm life. Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 Summary ofihe main a¢hlevements of the ¢hority the ye¥r 11 S3beel Retreat5 Programrne". Supporte(114 retreats acros5 Europe in Collaboration wth intematsonal parkners. 21 Sabeel Development Prograrnme". Organised over 23 ￿k8fid retreats throughout the UK, offering educational and spiritual gro%th opportunities. 31 Enhanced Sihaab PrrNJramme.' Delivered 6 weekend retreals within the UK, further enriching participants, ￿arnIng spirrtual expeften￿. 41 Sabeel Devekjpment Programme En9aged a total of 6(￿ stL#Jents a¢ros$ all rydes, highlighbng the programn*'s extensive reach and Impact 51 Guidance to Charitie5 and Organ15abon5. Pmvided supwt and guidance to over 35 national charities and organisations based in the UK. 81 Fatwa Line Serwice.. Rasponded lo over 1,700 qu8ri8s frcffl bolh Muslims and non-muslims, offefing clarity on Islamic matters affectiThJ daily lrfe. 71 Sharia Aflvi$ors Supplied 5 Shana advisors to assist wth artytrabon for Ihe Islamic Counril, ensuring rellats￿ and authentlc guidan￿. 81 Live Webinars Hosted 9 weekend %4*binats. attracbNJ a tolal of 800 attendees acfoss Satur¢Jay and Sunday sèssions. 91 Sabeel & Sihaab Weekend Cour585'. Conducted 7 weekend coutse5, running from Friday to Sunday, airned al enriching the cohorts. understanding of core Islamic prinaples. 101 Lgctures. Delivered 261g¢ture$ for extsmal 0rganisats.0r￿ durin9 Ramadan and Dhul Hiuah, th most being held in person and 10 Ilelivered online. Fundralslng actfvltles durlng the year. MRDF engaged in war￿U5 fundraising initiative5 In 2023, wth a key focus on the Rarnsdan period. This wriod r8pr8sented a pivotsl lime lor the organi581ion's fundraising strategy. a5 It lev8rag8d both online platforms and cornrnunity driven campaigns. MRDF capitslised on its enhanced digital infrastNdurg. a re$urt of o $vjnrfi￿nt £SS.OW in¥e$lment Into a more agib markotin9 $trate9y. This was a marked increase from the £28.000 spent In 2022. Th8 purp¢s• of this substantial intr8as• in m8th•ts"ng *X￿r￿1bj1è was lo broaden MRDF'S digital pr•5ence,Increasing the visibility of its programs and services wrthin the Muslim tomrnunity. Th# charity utilised social rnedia, ernail Marke￿.￿9. and digital aFFeals to engage donors, ensurir wider reach for their fundraisirrfJ efforts. This new approach also aimed to improve engagernent th younger dem¢graphi¢s and individuals who primanly inlerad oThline. MRDF'S Ramadan ¢ampai9ns. olthe key fundraisiNJ drives. We￿ designed to align with the spiritual significance of Iho month, a when many donors a￿ pathcularly Indined 10 contributa to ch8ritsb18 cau585. The campavJns were structur8d to hyhlight 5P8cific Initialive5, such a5 educational prcgrams and comrnunity outreach prqeds. resonab'ng deeply with MRDF'5 donor base. By optimising their fundraising channels and engaging their audien￿ through tsrgeted carnpaigns.MRDF was able lo raise substantial funds. despite the challenging erxjnomic climate. The organisalion'$ ability to meet its fundraising obie¢bves was ew¢enl, a$ they generated an income of £675.507 from don*ions. These efforts contnbuied dire¢Uy 10 tt)e continuation and expansion of their educational Inibatives. such J5 the Sabeel and Sihaab retreats and the online Fatwa Line 58rvKe, CO1￿c￿¥8[Y irnp8Ct8d thou5WK15 of indivhdual5. 10 Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 The degree to which the achievements andperfonnance during the yearhave benefited widersociety. Our efforts in 2023 remained firmly grounded in our tharItab￿ t*ec￿'veS, ￿1th a primary focus on benefiting the Muslim community while beiThJ open and indusive lo the broader public. As an organisation, we are committed to addressing the ChaI￿nge$ fated by Individuals and families, and we have consi$tenUy worked to offer guidan￿ and support through edu¢ab"on. spiritual nourishment, and petsonal developmeni. This Missi￿ has bewme MO￿ ctuual than ever as we add￿sS the evolving need5 of the comrnunrty, particularfy in fa￿ of oryoing 50cietal ch8118nges. In 2023, we built upon th8 innovative approaches adopted during the pandemic in 2020. continuing to expand our online offerings and hybrid models to ensure Ihat our seNif*$ remained a¢￿sIble lo all. Our Sab&el and Sihaab retreats, *Drt$hops. seminars, and digital ¢ontent allowed participants fr¢yr across the UK and even intemabonally 10 engage with our programmes. These efforts were bOlste￿d by eollaborati¢)ns wilh European partnets. furtherextending the reach of MRDF'5 mission. Our Iranspaffjnt polic￿$ and deflication lo attessibility ensure that no one is exduded Irom bonefiting from our s•rvie•s due to finanual hardship. We ￿maIN Steadfast in our eommitmènl lo indusivity, ensuriryJ that all individuals. regardless of their economic aroJrn5tance5, have the opportunity to participate in our prograrnmes. In 2023. tM$ ccfflmitrnenl was reflected through $ewral initi8liv¢$ that prioritised accessibility. 11 Affordable and Transpaffjnt Fee Structures." Ourkn p(Aic48s remaineLI 8lvJned wrth our chantable mission. offenn9 $8rwces al an apprwriaie 8ntry48vel cost. While s(me $8rvie8S gan8rats inc¢m•. thèy do so und•r a sysi*m tsf prOpo￿onal discounts. All feès wèr8 approvad by th8 Iruslees to en5ur8 they rèrnAin lair attss*t48, adh8n'r¥J to our principl8 Of minimising costs wherever possible. 21 Discounts for Studtnls and Low-In¢om• Indivhyuals." W• Continued to provid• sèl discounts lor students and those on low incorne5, ensurirrfJ thal these groups coukl lully participate in our programrnes wilhout faary finanual barrier5. 31 Inslalment Plans for Financial Flexitslity Forthose unable to meet the full Cost of an activity or seNice, we offered flexible Insta1ft￿nI plans. These plans tailo￿ to meet the partiupant'$ financial situation, allowing them 10 pay over time In an agreed upon manner. In cases where participants faced significant finanoal hardship. addibonal provisions were made. wrth approval Irorn the trustee5, to waive or defer payThents 10 ensure no Or￿ was exduded due to their financial How the achlev•ments durlng Iheyear M￿suM up to the objactlv￿ seL In 2023, MRDF 8ccornplish8d 58veral 5ignfficanl rnik8Stone5 Ihat alvJn8d dosely the objectives Set al the beginning of the ￿ar. One of the most notab￿ achievernents wa5 the successful delivery of over 23 Saieel retreals. whith are desvJned to provide parbapants with deep insights into Islamic teachiThJs while fostering personal and spintual gro%*th. These retreats We￿ ¢cMnplemented by six Sihaab weekend ￿treats. which $imilarfy fwused on nurturing the intellectual and spirrtual development of atte￿e$ thrwgh immetsive experien￿$ A¢Jditionalty. MRDF held seven setninats. both in person and online. which catere(I to a wide audien￿ and addressed key issues relevant to the Muslim cornmunity. These educatsonal prografflmes were pivotal in fulfilling MRDF'S goal of enhanor#J 5Wntual and intelledual grthyth wthin th8 community. 11 Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 MRDF also bri)adened its irnpact by 5uppothng 14 retreats In collaboration with International partners. These joint Inibatives not only extended the organ15ation's ￿ach but also Strengthen￿j its presence within the global Muslim cornmunity. furihenng its mission to promote Islamic education and spiritual development beyond the UK. The successful execution of these programmes demonslraled MRDF'S ability to m81ntain kn￿h ￿ve18 of se￿￿ delivery, even as it expanded its International cdlaboratsons. Despite facing finanoal chaI￿￿e5. ￿￿d1￿j a net deftit of £3.589 MRDF remained ￿$111ent throughout the year. Th15 finanoal shortfall was prirnanly due to Increased operational costs, induding the signrficanl investment in rnatheting and outreach effort5 to engage a wider audience. However, the organisation's ability to continue delNenng its servic8s and programmes is a lestamenl lo its strong foundation of volunteer support and donor contnbutions. The dedication of over 30 volunteers played a crucial rcAe in ensuring Ihe $moolh wnning of these event$. Whi￿ the generosity of donors enabled MRDF to remain financialty stab* anLI contsnue fulfilling rt6 objectives. The performan¢• olmaterlal lundratslng a¢tlvltAes durlng ¢h• yearagalnst the fundralslng obJe¢tfv•s sel. In 2023. MRDF'5 matenal fundraisiro elforts centred around rts enhanced marketing strategy and key campaigns, particularly dunng Rarnadan. Th8 chanty slralegically aimed to increase both engagernenl and donations to sustain its prcgrammes and expand ils outreach wthin the mmunity. T¢ achieve this, MRDF made a wnifi¢ant investrnenl In dvJitsl mark•ing. recogni$ing the 9rowin9 lrnportance of online plawomis In reaching potential don¢Ys. This Inve$bnent modemise(l rts approach arnj allowed Ihe chanty lo engage a broadef. digrtally conn8ded audienea. One of the year's rn051 notat4e canpavJns took place duriry R8rnadan, a pen¢>J tr*Jitr'onalty associated with heightened charitable giving wthin Ihe Muslirn community. MRDF capilalised on the $pirrtual Signifi￿nCe of Ramadan by aligning ts fundrai$ing efforts wrth the values of the holy month. Through a rarge of online channel$, indudirg social me(lia. email neW$￿tter$, and digrtal advertisements. MRDF suttessfully amplified rts message and encourage(I donations. These campaigns highlighted th& Importance ol donations to Ivnd ktsy Iniliabvas. such as the Sabeel and Sihaab retreats. educational prograrnmès. and the Famfa ijnt s•rvth. This approach r•sonatod with existing supporters and also helped to attract r￿W donors. Th8 charity's £55.(MXI investment in a more agile and tsrgeted marketiThJ strategy r8pr8sent8d substsntial increase from Ihe £28.000 spent in 2022. This stralegic focus on rnarkeling allowed MRDF lo significandy enhanc£ its digital presenr*. effectively posrtioning the chanty In front of a wider an¢ MO￿ dlverseaud*n￿. By using largeled advertisements. search engire optimisation ISEOI, and a￿1ve engagement on swal media. MRDF In￿ased awa￿ne$S of rts Initiatives. Addibonally, the abilty to track anLI reskY)nd ro donor eNJagement In ￿al time enabled the charity to adjust rt5 rne55aging and strategies as needed. makiTha the lundra151ng effort5 rnore dynamic and r8spon51ve to cornmunity need5. A5 a resutt ol these enhanced fundraising activities. MROF raised £875,507 frorn donations. This significant figure underscores the success of its efforts to increase donations and secure funding for its projects. Despite a challenging e￿nOMiC environment, MRDF'S ability lo reach its fundraising goals demonstrated the effectivene$s of rts revamped marketiry Strategy and rts str￿9 o)nnecbon *iU) ts d￿or base. 12 Muslim Research and Developemenl Foundation Company Registration Number- 5567478 Trustees, Annual Report for the year ended 31 December 2023 However, while MRDF su¢ceeéed in raising substsntial funds. the In¢￿ased expenditu￿ linked to tnarkebn9 and operational costs re5utted in a nel defiot of £3.589 for the year Total expendrtures stood at £879,905 compared to an incorne of £876.316. whi￿ th15 Wa5 a second year of defiat, th8 charty views the investrnent in rnatheting and outreach a5 essential for futur8 growth and sustainabilty. Athough costty in the short term. the improved digrtal strategy has laid the foundation for continued donor engagement and futurÈ fundraising surAY6S. Structure. govemance and management of the charity The methods used to rncruit and appoint new charity trustees. The Charty ublises all avenues of retsuthnt - u$rYJ speualist agenaes. contacts and word of mouth. to gather a li51 of potential candidates. The candidate5 are Ihen 5hort4isted and interviewed. The process is rnanaged by the CEO. The policies andpn)cedures lor the inductlon and training of twstees. New Trustees arts appointed based on experience in areas pe￿￿nt to Ihtr Chantys objethves and selected by the Board of Twstees. Eath new trustee undergoes an orientation day lo brief th8rn on their legal obligaton5 under the Chanties Ccffipanie5 Acts. They are provided wth th8 Charity Commission's guidance and a copy ol the Memorandum of Assouation. Th• eharltys oryanlsallonal structurn. The Charity has a Board of Tru5188S that are uttimat•ty responsibk* lor Ihè wnring and management of the Chanty. The 8oard of Trustees is kept inforned by an advisory comrnittea on the operational activities of the Charity. The advisory board has been dekgaled the day-ttrday operational activity lo a managmenl commrtlee headed by Mr Y Patel, Chief Ex￿UtiVe Offi￿r ICEOI. The CEO. Is also a Trustee an(1 Director of the chanliable company. In his role a$ the CEO he rekk)rts lo the advisory board. The manageft*nt commrttee consists of five Indivi(Jual8. induding th8 CEO. How the charfty makes decisi¢Ms andhow declsions are delegated. Th8 management comrnill88 has Lwn authon5e£l lo rnake de￿540￿5 that Impact th• daily 8eiivrti•s of the Charity and its smooth running and operabons. However any ¢JecJ$ion that wll have a matenal impact. finantsal or othewse- Is teltrmed to th• Tnjstees. The Chief Exeeutive Offiew aftd othersenlor managementpetsonnel to whom day to day management is delegated During the period and up to the 51gning of Ihe finanaal 51aiement the fdlowTrJ applN8d.. Mr Y Patel- Chief Excutive Officer Mr W Maqbool- Head of Finance Mr A Hus$8in- Head of operations Mr F Haib8tan- Heaé of Islamic development Mr J Rashid- Head of ￿9•1 ar¥J ¢omwnunic*iL￿S Setting pay andremuneTrtion of key managementpersonnel The ￿nUrneratIOn of key managemeni is sei by Ihe Ttustees and salaries refiect the natu￿ of the Charity. rt f1ekl of expertise as well a5 Ihe financial resources availab￿ to Ihe Chanty. None of the tru518ss rec81ved any payment. Please refer to note M HSBC Bank pl¢. 126 Hwjh Road Iwotd. Esstx IG1 1DA Sarncens Sdic4tois. sentir￿ HtyJse. 16 Harctyjrt sireet. Lond Honest Adwsory. 1 Tyletyofi road, London. SW16 46L Banke Scrflolor8 A¢¢¢untsnts 13 Muslim Research and Developement Foundation Company Registrabon NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 Flnanclal rèvlew The ch•rity$ financialposition •t the end of the ye•rended 31 DecemlJer2023 Th8 finan￿£1 position ofthe charty at 31 DeCem￿r 2023 and comparatW8s for the prior period, as more fully d8tai18d in the accounts, can summarised as folb)ws'. 2023 2022 Net lo•• 13.5891 16,7001 Unre&triGted Revenue Fund5 ava4abl8 for thtr general purposes of Ihe ctharty 47.195 50.784 Tot•1 Fund• 47.195 50.784 Financial rnviow of th• position at th• repo￿n9 date. 31 D•eember 2023. MRDF'S financjal strategy for 2023 focused on maiThtainin9 8 $table financ481 footirg. Our lotsl incorw for the year was £876.316 10 £914.559 In 2022. Despile Ihis reiluclK)n. we continued to fund our charitable activrties wilh expenses totalin9 E879.905. r6sults.ng In a net deficit of £3,589. This Compares with a d•fiut of £6,7(K) In 2022. 1.Key financial figures for the year indude.. 2.T¢lal in¢ome'. £876,316 3.Total expendrture £879, 905 4.Net defiot £3.589 5.Funds carried I0￿3rd- r•s•ty•s" £47.195 6.Income for 2023 primarily came frcm donab"ons. ¢h8nt8t48 8thits"es. and investments. The breakdown Is as lollows". 7.Oonations'. £675.507 8.Charitable ¥diwt￿¥'. £2CK).545 Pollcles on reserves. Tha Trustees have revthved th• r•wir•m•nt to maintain a minimum in light of tk• main risks faced by the charity and estab115h8d a reser¥e polKy. It has estsblished a pdicy th8t reserves should cover three months of unavohd8b￿ cosls. This target level is a reserve of £30,￿0 and il is fully anticipated that Ihis wll allow Ihe Charty to rneet its fixed and unavoidable costs. Availablllty and adequacy of assets ofeach of the funds The board of trustees is satisfied Ihat Ihe charity's assets in each fund are available aTrJ adequate to fulfil its oblvJation$ in ￿$￿e¢l of ea¢* fun(l. 14 Muslim Research and Developemenl Foundation Company Registration Number- 5567478 Trustees, Annual Report for the year ended 31 December 2023 Signrfieant évonts which havè affÉct￿ rinaneialperformaneé and th• finan¢lal position. 2023 has b88n a challeThJing year forthe chairty due to the continued pressures faced by our donors and by those serve, frcm th8 Cost of living crisis. Oespite this the Charty has been abl8 lo increase it activi118s by focusing on ujntined fund raising campaigns. Thé majorrlsks to whlch the Charlty Is •xpos•d and r•vlows andsystéms to mftlgate them. The Management CoMM￿ee has tonducte(l a ￿v*W of Ma1￿ risks to which the charity Is exposed. A nsk wisler has i*en establisheil and 1$ uk¥Jated at least annually. Where appropriate. 5yStern5 or procedure5 have t*en eSta￿lshe￿ lo rnrtigate the nsks the charty fa￿5. Significant ekternal risks to funding hav818d to the de¥eloFYn8nt ol 8 strategic plan which will allow for the diversification of funding and activitw Intemal ujntrd ri$ks are minimised by the implementation of prweduw$ for aulhonsalion of all transacbons and projects. Procedure$ are in place lo en$uffj compliance wlh heallh and safety of sialf. volunteers. dients and visrtors to the ¢8ntr6. Exposur• to legislativ• nsk and 0￿¢41 nsk Is r•v***d as part of the risk r•giSt•r ar mitigation are in place. Factors Ilk•ly to affe¢t fvturn Ilnan¢lalperfomwn¢e. Thè Charity Is deptndent on the g8norosity of Donors. as of rts incom• Is d•riv•d from Donations. The cost of living crisi5 in the 2022 and wider challewes of Inflation 8re expected to have a material imapct on Ihe Charity. HO￿Ver the Charity is looking al ways to mitigate the Prlnclpal lundlng sources In the yearand how these support the key objectfves ol tho charlty. As delai￿d in th• financial statemants th8 Chanty r￿1¥6￿ voluntary donats.ons including GiftAid 01 £675.50712022 £658.8921 and reeognised £2C4) 54512022 £255,615) frorn the provision of educational 5erninars. FundraisiThJ has resuking in increased donations. however the cost5 of livng crisis has reduced our educational Inco￿￿. The inco￿￿ raised in the year allowed the Charity to deliver the seNits$ rrentioned above. the sethon.main athewernents and pefomvnr*. Plans For the Future Summary ol pl*ns lor th• iutuv• ond th• IT￿1••￿. p•rtPCllv• of th• fvium dlrtctbon of th• charlty. The Trustees wll be fr*used on sta￿.11￿9 the financial posit•)n of Ihe charity and the creation of reliable income Sou￿. This will Ihen further enable the thanty to expand its aCtivit￿S lo more areas of the United Kingd(xn. Another area of focus Is the expansion of educab.onal material. rA)urses and projects. 15 Muslim Research and Developement Foundation Company Registration NutnbeT- 5567478 Trustees, Annual Report for the year ended 31 December 2023 Details of The Independent Examiner M K Sheikh Member of Instit￿• of Chartered In ErvJl¥pJ Walès 1 Tylecroft Road London SW16 4BL ststemtnt of th• Dlrectorn. ¥nd Trust•es' Rospon$ibiliti The chariws trustees a￿ responsible for the preparabon of the aceA)unt8 In accordan(* with the terms ol the C¢Jrpanies Act 2006, Ihe Charrt*s Act 2011 Jrxj the Charity"es (Accounts and Report51 Regulations 2008. NoNwth5tandiThJ the expliot requirernent In the extant statutory regulations,Ihe Charities IAccounts and Reports) Regulations 2CM)8. to prepare the financial statements In accordance wth the SORP 21X>5. In wew of lh& fact that the SORP 2005 ha8 bgen withdrawn, the Trustees detemiined to in*1p￿1 Ihis ￿sponSIbl11ty as requiring them to follow current best practice and prepar8 th8 accounts according to th8 FRS 102 SORP IStat8rnent of Recommended Practice for Accounting and Repth'ng by Charit18sI 2019, applicable to all a¢countin9 perirxJ$ beginnin9 on or arter 1st January 20191, (Th9 SORPI. In particular, th8 Ccffjpani85 Act and chanty law require th? Board of Tru51885 to prepare financial slalernents for each financial year which give a tNe and fair view of the slate of affairs of Ihg charity as al the end of the finawal year and of the surplu$ or d¢fi¢il of the Charity. In preparing those fin8nrJal $tstemenl$ Ihe Board 16 required to:_ - to p￿pare the accounts in accordance wlh United Kintyjom Generally Accepted Aceounling Practice Iuniled Kingdom Accounting Stsndards and applicable lawl. - select suitable accounting policw and apply them fA)n$16knty.' - make judgements and e$limates Ihat a￿ reasonable and pwdent.. - prepaw Ih? financial $talements on the concern ba$is unb$$ it is inappropriatg to presume Ihat Ihe charity will continue in business.. 8tate whether ap￿Icab￿ accounting standards and staternents 01 recommended practice have been lollowed. subject to any material d•partures disdosed and explainèd in Ihe finantsal statements." The18w requiras that th& tNstees must not approve the accounts Un￿$9 are satIsf￿d that they give a true and fair vthv of thè stat• ￿ affaits of th# eharty of the Su￿U$ or d8fi.at Of the charity for the year. The Trustees a￿ also for maintsinin9 adequate accounting records which disdose th ffjasonable accuracy at any bme u￿ finanual PDsibon of Ihe charty and which a￿ sufFicient to show and explain Ihe chanty's traDsaL1ion5 and enable thgm lo ensure that the financi81 5tat8rnent5 comply with the Companie5 Acl 2(HJ6 and cornply wlh r8gulats.ons made uneer the Charities Act. They are also responsibke for safeguardirvJ the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and olher irregularities. The Trustees are also ￿$r￿)nSib￿ for Ihe ￿)nIentS of Ihe Trvstees. ￿pOrt. and tt)e $tstutory responsibility of the Independent Examir*r in ￿atron to the Trustees. ￿port is limite(J to examining the report and ensunng that, on Ihe fa￿ of the report. Ihere are no material inconsistenaes wth th8 figure5 disdosed in Ihe financial statem8nts. 16 Mu$llm R¢$•ar¢h and D•¥elopemen¢ Found•tlon T¥￿te•s. Annual Report for thg y•ar Ofided 31 Doc¢mber 2023 M•thod ol prepwJtlon ol •¢¢ounts. Small ¢ompany prnvhlon¥ The fin8Th*18talomwts w• sqtvjt 20 *40. Tho final￿1¢ s￿eMon￿ hw• b•¢n Fnparel knFl0m•r￿ftgtho FRS SORP Istatornwrt Rqwmmend•d Pwti¢o l¢vAtttyAtiroJ ond R•poffj"r9 bYCharib￿l 2019. OPF4Ic4bk8 to aTr accounbw perK*J5 on ty •ft•r 151JanuBry 2019k (Thw Scwk w¥J h •c¢•th￿tA th• Fln•nd•l R•pry*nq Sl•ndwd 1W2, (•ff•¢¥%* 18t JaNary2018? Th08•flr%aThJal statements b¢eA kY•p•rnJ kn ary)jrth￿ vlith th• Psrt t5ofl1 Crffipankn Ac12006. 8￿CatI8*)¢omPgr* sutyKtkn tho small comF0r48s rtyino. YuTrJs Paw 17 Muslim Rgsaarch and Dgvelopgment Foundation Rèport olthè Ind•￿nd&At Examlnér to thè Trust•ès ofthè charitib￿ eompany on th• accounts for the year ended 31 December 2023 l ￿port lo the Twstee5 on my examination of the fiThanu81 slatements olthe charitabk company on pages 20 to 40 forthe year ended 31 Oecemter 2023 w*ich have been prepared in accordan￿ wrih the Charit￿5 Act 2011 Ithe Act) and with the Financial Reportin9 SlaThYard 102. leffectwe 1st January 20161 as modified by FRS 102 SORP (Statement of Recommended Practice lor AccounliThJ and Reporting by chant￿S) 2019. applicab￿ lo all accounting periods beginning on oi after 1st January20191. trhe SORPI. published by ihe Charrty Commission in Engknd & Waks ICCEWI. and under Ihe hisior*al ts)n¥eniion and accounting pol￿￿$ set out on page 26. R8spectlve rn8p0n8lbll1t￿8 of the 7n￿leaS and Iho In&￿ndent Examlnor and th8 bas18 of th8 report A$ described on pase 16. you. IhE thariiab* ¢tympèfi¥$TFustees. who are atso the Dire￿0[$ Of the Company for the purpose5 of Company law, are responsib￿ forthe pwaralion of the finanual slaternenls in accordance Mlh the Companies Act 2006. the Charities Act 2011 and all other applicab￿ and wlh United Kingdom General Accepted Accounting Practice. 8FVIKab￿I0 5rnal￿r enIrt￿5. aThd lor being sa11sf￿ Ihat the fi'nanckgl stslements give a true and fair vw. The Twstees con5hler Ihat the audrt requirement of SeclioTh 144111 of the Charit￿5 Act 20111lhe Actl doe5 not appty. and that Ihere is no requiremenl In the rn8morandum and artKles of Ihe charity for the conducting of an audrt. and thal the accounts do not require an audrt In accordance wrth Part 16 ofthe compani￿ Act 2006 and that no member or members have requesled an audrt pursuant to SectKn 476 of the Companies Act 2006. As a ¢onsequence. the Trusiees have ek¥ied thai Ihe finanuol siatsments be subiecl te Independeni examination. Having Satisf￿d mysewlhat the financial statements are not reouired lo be audited under any kngal provision. or othe￿is?. and are elvJible for independenl examination. it 15 my responsibilty lo'.- al •xamin6 tho financial statsmtrtts of the charty undotS•ciion 145 ollhe Ad." bl f¢lbwthe applicablo pro¢*durns in the Th're¢bOn$ 9wen by Ihe Ch•rty Crmmiuion under le￿10Th 1451Sllbl )f th• Act. Basls of Independent Examlnerf• Statemont and wjpe Ofw0￿ urKlertaken Since the charitable companys gloss income exceeded £250.¢]00. Ihe chantab18 companys examiner musl be member of a body I￿ted In secaion 145 of the Act. I confim) Ihat l am qualrfied to undertake the examination because l am an athhonseLI member 01 I4ember of In$wyte of ¢hOne￿ Acmit)iants In EngkgThJ ana Wales. whl¢h $ Qne of the li$te(J bod*$. I report in respect of my examinatKn of the chanvs financ4al state￿nIS car￿d out under &14S ofthe Act. In carrying out myexaminaiion. I have lo11tr￿ all the aPpI￿ab￿ Directths given by the Chanty Commission under section 145lSllbl of the Aci setting oul the dulles of an Independent examir*r In relation 10 Ihe conducting of an ntlependeni examinat￿Th. An independeni examination Indutle$ o revw of the a¢¢¢unting ￿cOrdS kept by the ¢haritable Company and ofthe a¢￿￿ni1￿9 $ysiem$ employed by Ihe Charrfable Company a ¢(xrpan$on of th financial 51atemen15 presented wih those recoth. 11 also Ind￿je$ consKleration of any unu$ual iiem$ or di5clo$ure$ in the finana81 stalements, and 5eekiry explanalion5 frryn you. as Trustees. conceming such mallers. The purpose of the examination is le establish as far as posgbkn that Ihere have been no breaches of charity legislation and Ihal, on a lest b8515 of evidence re￿￿an1 to the Srnounls and disdosures m•Ye, Ihe finanoal 8lalements comply %*ilh I SORP. The procedures undertaken do not provide all the evTrJerKÈthat ￿U￿j be requ¥ed in an audit, and Infomation $upplied by the Tmsiees In the course of Ihe examination L% not subiethd to audrt iesis orenquiries and doès not ¢over all the matter$ thai an autlrtor woukl ¢on$Kler In atrwing at an opinion. TF* planning and ¢ontlu¢t of an audil goe$ beyond Ihe lirnited a55urance Ihat an i￿perKIent examin4lioTh Can provide Con8equenly, I do not ewress an audrt cynion on Ihe view gwen ty Ihe financial statements. and in particular. I express no opinion as to whether the finawal statements give a true and fair viewof the affairs of the charity, and my report Is limrted to the matters sel out In the stalement telrw. I planned and performeil myexamination 50 a5 to 5alisfy rnysewthat IIE obpcbYe5 of the independent examination are aCh￿ve￿ and before fIna￿'sIng Ihe report l obtained ￿ltIen assuran￿5 frwi the Trustees of all rnalerial rnatter5. 18 Mu¥llm R•￿arCh and D?￿lope￿onI Foundaiign Jnf•mth•i:_ pedfitsl In Secb(ATh 145(31 ¢YTh £25(m￿. and th•t I ￿ qu•d to kn Ac¢tsJni•rt6 In •*JWalbb', g￿n tythe Charty CCffjYn**￿ 145(SJ(i*l tr• W￿r￿tIl.. bkntln anyfflatedd 2CKIry arwj Sockn 130 OTT￿ G￿n¥t$ fv412011'. lec￿ *"rM*vJ w ry•ft•r 1•tJwwry2019). ITr* 8ORP). K8￿￿h. WP•r￿•rt E¥•rr 1 Ro•a SWI0 4BL 19 Muslim Research and Developement Foundation - Statement of Financial Activities for the year ended 31 December 2023 Statoment of Financial Activities (including the Income and Expenditure Account for tho year ended 31 December 2023, as required by the Companies Act 2006) SORP Ref Cuvrent year currentyear R•strk¢•d Cuffent year Totsi Fun08 Prior Year Toi•l Futtd$ Funds 2023 2023 2023 2022 Income & EndowThgn¢¥ from.. Donations & Legaues chari18b￿ activitie• Invesirnents A1 675.507 2TrJ.545 675,507 200,545 658,892 255,615 52 Total Incomo 876,318 876,316 914.559 Exp8ndbtur• on: Rai$ing tund$ Charilabk acti¥￿t5 81 82 91.733 788.172 91.733 788.172 80,785 640,474 Totsl oxp•ndlture 879,905 879,905 921,259 N•t In¢om• forth• y•ar 13.5891 13,5891 18.7001 Ng1 IThGorn9 Iftgr tr•n•19rn 13.5891 16.7001 N•¢ movemgnt In funds 13,S891 13,5891 16,7001 R•conclllatlon ol fundl:. Tot•1 fund¥ Ixou9ht lo￿1rd 50,784 50.784 57,484 Total fund8 cathod foMard 47,195 47,195 50,784 Th8'SORP Ref induled above is the daSsrfKaI￿ 8el the Icffl￿I SORP documents. A5 required by paragraph 4.60 of Ihe SORP, ftyward arxl ¢arrityJ l(xw8rf above have iEen ¥greed lo ts Balance Sheet. A separate Statement of Total Re(￿nised Los8e8 is Ml wuied asthi8 Statement inc*Jdes all recognised gains and105￿. I the prKir ye4r 1rarp5ectior￿ We￿ uweslricled itenm. ￿ nofijrther anatrJB is required All activit'es derive frcffl conbnuing operations The notes attached on pages 26 to 40 forni an Integral part ol these accounts. 20 Muslim Research and Developement Foundation - Statement of Financial Activities for the year ended 31 December 2023 Movements in revenue and capiial funds for the year ended 31 December 2023 Revenue accumulated funds Totsl Last year Total Funds F￿ndS Funds Funds 202J 2Q2J 2022 Accumulaled fuTrJs brought foThwd 50,784 50.784 57.4B4 Re¢¢gTh$ed gains and losses before Ir8n8fers (3.5891 3.5891 16,7001 47.195 47.195 50.784 CIo8lng revonu• fvnds 47.195 47,195 50,784 Summ•ry of lund• Tot•1 Fwidl L•$t Y•41 Total Fund* FurK furK Z023 20Z3 2U23 2022 RevenLX accumLknted fund5 47.195 47,195 50,784 Th? notss attached on ￿991 26 to 40 fonn an Intsgr•l part ol a¢coun¢¥, 21 Muslim Research and Developement Foundation - Statement of Financial Activities for the year ended 31 December 2023 Income and Expendlture Account for the year ended 31 December 2023 as requlred by the Companles Act 2006 2023 2022 In¢ome Irthme from 0￿rati(fi8 Refunds Irom HMRC on grfl 8N1ed donatic￿8 798.024 78.028 850,087 84.420 Investment income Inleresl receivatl8 52 Qrom In¢¢m• In lh• y￿r b•f¢r• ¢A￿P11•N•I It•m• 076.316 914.559 Grom In¢omo In th• year Includln9 oxcWloMI tto 878.318 914.$59 Expen¢lllUfO Ch•ritatAe expendthre. eX￿￿￿11vI depreo•ikryn ar￿ •mNtis Fundraising costs Reali8ed losses on disposals 018ocial iThvestment8 are kYL¥ramme relthd 788.172 91.733 840,474 80,785 Total oxp•ndltur• In th• 879,905 921.259 Ngt In¢offj• b•for• t•x In th• flnwnGthI yur 16.7001 Tax on SUr￿u5 on ordinary acbwi¢h88 N•t Incom• aft•rtax In th•financOal y•ar 13,5891 16.7001 Retalned surplus lor th• flnanclal year 13.5891 16,7001 All activites ¢Jerive fr¢Jn contsnuing operth.ons In accordance with Ihe wow¥ons of the Compan*s kl 2(￿, Ihe l*adir¥s a￿1 subheadirys u8ed in Ihe Income aThY Expendilure a¢¢ouni h¥ve been adapted 10 refieci ts $petsal n8￿re of ¥(iMbes. Th? notes att¥¢hed on p¥9e$ 26 to 40 fonn an Integral part of these ¥¢¢ounts. Musllm Research and Developement Foundatlon - Balanco Sheat as at 31 SORP 2022 Curr•nl M••ts 10 82 50.T10 53AY .609 Totsi ¢uff•nt•$*•ts 104244 73.746 r•rtAorn: du•wknkn on•y 157,0491 122.9621 47,195 X*.784 Th• lol•l n•t•M•ts oflh ¢h•ffjT 47.196 50.784 Th totsl Mt •fth• chwlty knd•d by th• olth• ch•rfty. uf•low•:. 16 D3 47.195 50.784 47.195 50.7e4 rdal charfty 47,196 50.714 Th•'SORP R•f knthL*•d obty4•11 the d•sdficatl￿ pl Bd•rK• Sh••lrtwrw •$ s•lwt kn th• ltym•l SORP ¢t¢)mn￿. kn r¢tyMr•d ty P¥W•F* I.￿ clth• SORP. lh• aTra C￿ed Iiffttywd fundi ab) Iw¥• t•8nay8•d lo th• SOFA. clion 477 clih• Crynwl•s Ac¢ 2£ m¢mtwh¥ rK4f•qulr•d tr• CMV￿YI0•bIth 8•clkn 476 ot th¢ fxwmknqrls rffj pa9B 19. Yuny• P•tsl TN8te0 Th• not•¥ •tt•¢had ort p•g•¥ 2610 40fonn an Inl•yal vt o1th•8• ac¢ount¥. Muslim Research and Developement Foundation Cash Flow Stalement for the year ended 31 December 2023 2023 2022 Cash flows from op•rntSng activitl8s N81 cash provided by yrats'ng aciwities as showffl t4k 22,581 149.9951 Cash flows fmm investing activities Interest r8ceiv£d 264 52 Net ¢a$h pro¥ld•d by Invostlng a¢ll¥ltles 52 Cash flows from flnanclng aetlvlll•s Net cash provided by financing activltS08 Ov•rall cash prov1d￿ by all a¢tlvlll A+B+C 22,845 149.9431 C*$h movomonts Change in cash and cash equivalents odiwtie$ in Ihg year ended 31 December 2023 22,845 149.9431 80.832 Cash and cash equiVa￿nts at 1 Jwuary 2023 30,689 Charse in cash and cash equivalents duè lo •xthang8 rate rnovernonta Cash *t bank and in h*nd1o$8 overdr*fts at 31 December 53,534 30,689 24 Muslim Research and Developement Foundation Cash Flow Stalement for the year ended 31 December 2023 Muslim Research and Developemenl Foundation Cash Flow Statement for the year ended 31 December 2023- Contlnued R¢¢onelllatlon of n•t In¢omo to not ¢a$h Ilow from op•rdtlng aetl¥ltl¢s N81 income as shown in lh8 Ststement of Finanual Athwlies 13,5891 16.7001 AdjUstn￿nts lor:. Wrrte downs of investments Nel unrealised losses on investment assets Dividends. interest and rents from inveslm8nts De￿aSe In debtors Increase in credrters. exclL*4iThJ loan5 12841 17,6531 34,087 136.8351 16.4081 N•t cash provlded by operatbng actlvitles 22,581 149,9961 Anaty31g of cash and cash equSvalents 2023 2022 Cash in hand al lor lh• y•ar •nd•d 31 t*e•mbw 2023 Noli¢e depo$its- Ile$$ thon 3 rnonlh$l 53,534 30.689 Total cash and cash •qulval•nts $3,534 30,689 Mu811rn Research and Developemenl Foundatlon Cash Flow Stalement for the year ended 31 December 2023- Conllnued An4ly8i$ ol change in n•t dobt Al st•rt Cash At end olyv•r 30.689 Flows •nd 22,845 of year 53.534 Cash Total 30.689 22.845 22.84S 25 Muslim Research and Developernent Foundation Notes to the Accounts for the year ended 31 December 2023 1 Accounting poliei•s Pollcles relatlng to tho productlon of th• account& Basls of prèparntlon and aeeountlng eonv•nllon The 8ccounts have been prepared on the awuals basi5. underthe historical cost convention, and in accordance wth the Financial Reporbng Standard 102. leffective 1st January 20161 and 'FRS 102 SORP Istalemenl ol Recommended Practice lor Accounting and Repor*ng by Charities) 2019. applicable to all accounting periods beginning on or after 1st January 20191. (The SORPI. published by the Charity Comrnis510n in England & Wales ICCEW) . and In accordan￿ wth all applicable law in the charitys jurisdiction of registratson. except that the charty has prepared the finantsal statements In accordan￿ wth the FRS 102 SORP (Statement ol Recommended Pracbce for Accounting and Reporting by Charrtiesl 2019, applicable to all accounting penods teginning on or after 1st January 20191, (The SORPI. in preference to the previous SORP. the SORP 2005. whth has been wthdrawn, no￿thstanding the fact that the èxtant statutory rÉgulations. Ihe Charities (Accounts and Rèports) Regulations 2008 rèfèr expliciuy to the SORP 2005. This has b8en t1one to xcord current test practs'ce. Futur¢ Rl$k The charity face5 muttiple risk5. from financi81 and system. The board and trustees rnits'gated these risk by planning io widen the donation b88e. ¢reats"ng ba¢k-up$ and firewalls and latent redundancy, Rl•k8 and futurè a•$umptlon8 The charity Is a public benefit entity. The charity is a public benefit organisabon Vrt￿.$ key 8im is to benefit the putliG However aB such it is highly d&pend&N on donations and Ihe general public attending edu¢3tional seminars and outreach programmes Il hosts. The Trustees are aware of the finanaal and ecoTh)mic risks faced by the uncertainty of the UK economy. However the Trustees a￿ confident that the charty wll be able to attract the public and raise of its projects and objectives. Pollcles rel4tlng to categort•s of Income and Incom• rncoqnlllon. Natur• ol Ineom• Gross incorne represents donations from the gener81 put￿￿ 8s well as incorne from the provision of services 08 perthe ¢bje¢tives ol Ihe ¢hanty. Categorbes of Income Income Is categorised as incorne from exchange transath.ons Icontract incornel and income frorn non- exchange transactions Igiftsl, investmenl income and other income. Income from exchange tran#action8 is received by the chanty for sèrvices supplied where èntitlèmènt is subject to fulfilling performance related condrtions. The Income the chanty receives Is approximately equal in value to the services supplied by the charity. Income Irom a non*xchange trdnsactlon is where Ihe chanty re￿l¥e$ value from the donor wthout providing equal value in exchange. and Indudes donations of morEy. goods and services freely given without giving equal value in exchange. Muslim Research and Developernent Foundation Notes to the Accounts for the year ended 31 December 2023 Income recognltlon Income, whether from exchange or non exthange transactions. is recryjnised in the statement of financial activities ISOFAI on a receivable basis, %then a transaction or other event results In an increase in the charity's assets or a reduction in its liabilrties and only when the charity has legal enb'tlement. the incorne is probable 8nd can be measured reliably. Income subject to tem)s and condibons whKh must be met before the charity is ents'ljed to the resources is not recognised until the conditions have been met Al ir)come Is accounted for gross, before dedu(*"ng any related fees ¢y ¢osts. Accounting for deferred Income and income received In advance Where terms and condit'ons re18b.ng to income have not been met or Un￿rtaInty exi8ts as to whether the charity can m&et any tèrms or conditions otherwisè within its ctsntrol, Incomtr Is not recogni$èd bul is delerre¢J as a Iiabilty until rt Is probable that the temis or cL￿d1￿"0nS Imposed can be met. Any grant that is subject to performan￿related condrtions received in advance of delivering the goods and services required by that condition, or is subject to unmet condibws wholty outside the control of the recipient Charity. is a¢c¢unte4 for as a liability and Shovm On the balance $heet as defvrred in￿rne. Deferred Income Is released to income In the repothng penod in whi¢h the performan¢e-related or other conditions that limit recognition are met. When Income from a grani or donabon has noi been recognised dutr to the ¢ondition$ applying to the gift not bein9 wholty within the control ol the rea￿ent charrty. It is dis¢k)$ed as a conbngent asset il re¢eipl ol the grant or donation is probable once those condrtions are met. Where tim8 relat8d condrtions arè Imposed or Im￿led by a funder, Ih8n th8 Income is apportion8d to th8 lime periods concemed.and, where applicable. is accounted lor as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by Ihern. but there are no Sp￿fiC time related conditions. then Ihe income is not deferred. Any condrtion thai allows for the recovery by Ihe donor ol any vnexpended part of 8 grant does not prevent recognitson ofthe Income conceme(I, al￿bil￿ lo repayment Is recognised when repayment becomes probable. Donated goods, facllltles and servlces Donated flxed assets are recognised at the ujrrenl fair value. Al such donab'on8 are recognised as donation inwme. and debrted to fixed assets. 27 Muslim Research and Developernent Foundation Notes to the Accounts for the year ended 31 December 2023 Donated goods that are not fixed assets are accounted for at a fair value, unless rt is impractical to rdiably rneasure the value of the donated items. In the absence of any dired evidence of fail value of donated goods. then a value is derived from the cost of the item to the ¢Jonor or, In the case ol goods that are expected to be sokl, the estsmated resale value after deducting any antiopated costs of sales. 11 rt Is Impracticable to mèasurè the fair valuè of g0(Kls donated for fesale, or Ihe (x)sts of valuation outweigh the benefits, the donated goods are recognised as Income when sold. VAth an equivalent amount being recognised as an expense. Th6 costs of goods donaied for distribution to benefi(iariès Is dÈemed tt> be the fair value of those goods upon re￿ipt. When the goods are distributed Ireely or for a nominal consideration, then the caffwng amount is adjusted at the time ol sale. to the value at the wnt ol diStn.￿On and the adjustment is shown aB a cost ol donations rnade. 28 Muslim Research and Developernent Foundation Notes to the Accounts for the year ended 31 December 2023 Donated servlces and faclllues lindu¢Jing seconded staff and use ol property) are induded in the accounts on the basis of the value of the gift to the charity. Al donated services and faolib.es are recognised as donab.on income when received,Iprovided the value ol the gift can be measure(I reliab￿) and recognised as an expense an equivalent value. Membership subscription¥ The income and any assouated Gift Aid or other tax refvnd from a membership subscription received by the charity in the n3￿re of a gift. Is accounted for on the same basis as a donab'on. The income from a rnernbership subscnptson received by ￿ ch8rrty where the Subscription purch8ses the right to $ervi¢es or b￿n￿t$ is reC￿3n1$*￿ as in¢tyne from Charrtablè ath"wb"es. Pollcles relatlng to ￿p9￿dI￿re on goods and$eThlcgsprovlded¢o the charlty. Recognlvon of Il¥bllltle8 and expenditure A liability, and the rdated expenditure. is recognised vthen a legal or constructive obligation exists as result of a past event. and when it is more likety than not that a transfer of econornic benefi'ts will be required In settlement, and when the amount of the obligats.on can be rnea5ured or reliably estimated., Li8bilrtie$ arising from luture fundiftg commth*nt$ and ¢onstrvcb"ve obligations. induding performance rdated grants, whère thè liming or th8 amotjnt ol th¥ fviure expenditure rèquir￿ to settlè thè obligation are uncertain. give rise to a provision in the accounts, which is reviewed al the accounting year end. The provision is increased to reflect any increases in liabilities. and is decreased by the ulilisation ol any provision within the period, and reversed If any provision is Th) Icfftger required These movernents are Charged or credited 10 the r&spe¢uve funds and a¢Dwbe$ to vthi¢h the wovision relates. Alloca¢lng co$t• to actlvltle8 Direu costs that ar¥ speofi¢ally rel*ed to an aaivity are all¢xat$d to that a¢tivity. Shar&d dio¢t ¢ost$ and support costs are apportioned befvrfeen activitses. The basis for apportionment. which is consistently applied, and proportionate to the urcurnstances. is :. Slafflng- on the basis of time spent in connection wilh ary pa￿'CUlar acty'vity. Premlses rela¢ed ¢osts- on Ihe prcporb'on of flwr area owupied by a parb'cular activity. Non Speclflc support costs- on the basis of Ihe usage of resources, in tems ol time taken, capacity used, request made or other rneasures E8tlmatlon technlqu•s used in apportioning costs- give details Volunt••r8 In accordance wrth the SORP. and in recognition ol the difficulties in placing a rnonetary value on the contribution from volunteer5, the conlribubon of volunteers is not indu¢Jed wlhin ¢he income of the charity. However. the tnJ5tees value the signifiG4nt contnbubon made to the a¢trties of the tharity by unpaid volunteers and this Is described nYJre fully in Note6. Pollcles relatlng to assets. Ilabllftl•s andprovlslons andothermatt•r& Debtor¥ Debtors are measured at their recoverable amwnts al Ihe balance sheet date. Muslim Research and Developernent Foundation Notes to the Accounts for the year ended 31 December 2023 Credltors and provlslons Creditors are measured at market value and recognised in the ￿riod to whith the benefit is consumed by the chanty. Provisions are recognise(I Il the value incurred or consumed is certain and the liability is probable. Pensions- defined ¢ontribu¢ion schernes The charity operates a defined contnbution pension scherne. Contribubons are charged to the profit and Ios5 account as they become payable In accordan￿ the rules of the 5therne Fund Accounting Unrestricted funds are avalable for use atlhe di8crelH)n of Ihe tnjstees in ftIrther3n￿ of the gener81 objèctives ol tharty. There are no Designated lund$. Restricted funds are subjected to resIncl￿$ on their expenditure imposed by the donor or through the terms of an appeal or as irnplted by law. There are n¢ endowment fvnds. 2 Llablllty to taxatlon The Trustees consider that the thanty sabsfies the tests set Olrt in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tsm puwes. Accordingly. the Charity Is potenb.ally exernpt frorn taxation in r&$pecl ol In¢om¥ or ￿pital gain$ re￿Ve￿ wilhin ¢ategone$ covered by ¢hapler 3 part 11 of the Corporatson Tax Act 2010 or Sedon 256 01 the Taxats"on ol Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusively on the specific charitable objects ol the charity and lor no other purpose. Value Added Tax Is no¢ recoverable by Ihe charity, and is the￿fore included in the relevant CO818 in the Stalernent ol Financial A¢b¥￿"•$. 3 ￿￿ndIng up or dl88olutlon of th• eharlty 11 upon winding up or 4issoluDon of the Charity the￿ remain any assets. after ¢he satisfaction of all debt$ and liabilities, the assets represented by the accumulated fund shall t* transfeffed to som8 othèr charitable body or bodies having similar obiecis to the chanty. 4 Slgnlflcance of flnanclal Instruments to the ¢harfty'¥ posluon Th8 Charity does not havè any signifiuamt finanijal instruments. li onty has ¢a$h. d¢btors and ¢redilor. These are all Measu￿ at fairvalue, which equates to the book value. 6 Net surplus belore tax In the Ilnanclal year 2023 2022 The net surplus before tax in the finanaal year is stated after cthargiro'.- Pension costs 1.349 1,773 Muslim Research and Developernent Foundation Notes to the Accounts for the year ended 31 December 2023 6 The contrfbutlon of volunteers In 2023, MRDF'S volLJnteer base played an in¢yeasingW vital iole in supw)rting our expanding rangè of both digital and In-person activities. Volunteers remained the backbone ol the organisatson. ensuring that our services could reach the wider community. Their unwavering dedication made it possible to deliver the breadth of prograrnmes we offer, frryn retreats to online educab.onal session5. As we 8rnbraced a hybrid rnodel of service delivery. the need for volunteers wth digrtal èxpertisè bècsme even more critical. Over 30 vdunteers contributed their b.me and skills throughout the year. working alongside our central team lo ensure the seamless execution ol events. whether in person or online. Following the surge in volunteer engagement seen in previous years. 2023 saw conty.nued enthusiasrn and p8rts"opation, particularty as we resumed irwerson events alongside our ongoing digital inity8tives 7 Staff costs and emoluments Salary costs 2023 2022 Gross Salaries excluding trustees and key manag¢m8nt wrsffinel Ernployer's Natyonal In5uranTr for all staff Ernployer's operating costs ol defined contribution pension scheme5 128,185 1,666 141.787 3,682 1.349 1.773 Total salarles, wages and velated c￿¢• 131,200 147,242 The average number of lull time Staff emFloyed in the year was The estimated full trme equivalent number of all staff em￿oyed in the year was 10 Th• è$tlmat•d •qufval•n¢ numbvof full Ilm• staff deploN•dln dm￿￿•￿1 •erivlll•$ In th• y•4rw*$.'. Engags*ar CwV#nty￿r LInf*•￿¢t*o R•strkt•d Ti>LIl Fundi F￿ndS Fund PrforY*ir Totsl Fund 2J23 2023 2J23 OonatiODB and giftsfrom individuJ Sm811 tty811￿9 Wlh8n £10NJ 517.04 517,049 513.078 Refunds from HMRC on gift •dod Olhw dor￿￿) 78.028 n.028 64.420 80.430 80.430 Totsl Oon•llons •nd glft• Irom 675.507 675,507 657.928 PrlOrY•*r To*1 Fynd• R•Atrktsd TM•IFyndi Fuilob Fur 2DZ3 1013 A4v•nu4 grnntl and donlltlrJn• lffjm non publ1¢ bodl Olhw Gran Total pr￿&t• *•ctor rn¥•nu• gv•nts Totsl Oonatlons, Grnnts and L•gacb•s Total Donatlons, Grants and L•gacl•• A1 875.507 675,507 658,892 21 Income from charltsbl• actlvltle•- Trndlng Actlvltl•s Curr¢t>ty••r Cwrnnf ewr•ntyMr ihiN*trkt•J R••tr*t•d ToiilFuTrd• F¥nO• PrlorY•ar 2023 2023 23 Prim•ry puwooo •nd 8n¢ill•rytV8di Educ¥iv)n Ino 255.615 Tot•1 Piimary pvrpos• •nd •n¢ill•ty trading 255.615 Muslim Re¥e4￿h and Devel9F￿rnerrt Foundalion Detalled anatysls of Incomè and expendliurè forthè ended 31 D0￿mber 2023 as re4ulrèd by thè SORP 2015 22 Totsl Incom• from charitabh act￿11 Cuwrvnt wr tU￿V￿r TOL11 FuThd Prlor Year cuffrent￿r Furfb ToLIl Fund 2•23 202) 2•2J Tota incThlrom charitat4&tr*￿ .ys 255,615 Tot81 from ¢h•rltatylo •¢tlvlth• 255,615 23 Inv•*tmont InGom• PrlorY••r Tot•1 Fundb Toi•lFuThd• F¥rA 2013 2023 B&nk Inietesi R￿¥&￿46 52 Total Inv••tm•rrt Incoffl• 264 52 24 Expondltur• on ¢hadt•ble acllvltlM- Olr•ct #p￿dIng Cumnt >*•r Ctsrylnt￿•f CwT•ntyMr Prtoi Y•4r Totsi Furtdl T¥i*l Fundb Curr•nt Yur F￿fid* 23 2023 23 Gr055 wages and saL81i•8. eharitabk* 89.991 89,991 107.949 Employer8, Nl- Charrtabl8 actNrtk Defined Contribution pen$K)n cosis ¢haritable a¢ti¥rtie$ 2.452 1.456 Total dlr•¢t •p•nding 11,857 ¥1,6S7 111,857 Muslim Re¥e4￿h and Devel9F￿rnerrt Foundalion Detalled anatysls of Incomè and expendliurè forthè ended 31 D0￿mber 2023 as re4ulrèd by thè SORP 2015 25 Exp6ndlture on charftabl8 actlvltl88- Char6table tradlng Cuvrum wr CuffOrrty￿r PriDrYwr TOL11 FuThd ToLI1 Fund CU￿ont Year Fuffld ZDZJ 2023 ZJ Cost ol goods for primary purpose trading- Induding movement in $to¢k 606.158 606,15B 620.692 Tol•l C￿r[l•bIg ir•dlng ¢o¥l• 6Q6.158 620,692 26 Support C08ts for charitable activities curr￿t)￿r ¢wrInt￿r Prtoryvr Unr*4MCt•d R••itst•d Tot•1 FuTrd• T¢i•l Fund• F￿nd9 Fun Current Year 2023 2•23 Employ•• ¢osts noi in¢lud•dln dlrn¢¢ ¢osts Salanes- Administrative staff Defined contribulion pen$K)n co$i- odmini$iraiive $taff Employers, Nl Administr81ivg $toff Tralning and ￿￿lIar*. $1off 38.191 38,194 33.8J8 1.319 1,349 317 1.230 Pr•ml$•$ Exp•ftMs Llcen¢e lee$ payab Roles and water charges Light heal and power Ckaning and waste manageThnt Premises repairs. wnewals and maintenance Storage Jo,0 1,090 4,263 28.500 1,025 4.474 3,366 3.100 2,43J 16,gJ9 Admlnlstr4llve overheods Telephone, fax and Internet Stationery and printin9 Sundry expÈnse$ Canteen and staff ents 1,$62 1.001 95 1.715 S.820 4,0$7 4.OB7 Professional fegs paid 1¢ •rtViSWS Olh¢r Ih•n th*•uditoror¢x•nin¢r Accountancy fees other than examination or audit fees Other legal and profess￿nal 7,707 Support CO$ts before reallocatlon J.357 ,357 107,925 Total support costs- Current Year ).357 ),357 107.925 I the eXp￿dIlure In Ihe prK>r yearvA5 unre5ts1c￿. Admrnistraiive overheads 37 Muslim Re¥e4￿h and Devel9F￿rnerrt Foundalion Detalled anatysls of Incomè and expendliurè forthè ended 31 D0￿mber 2023 as re4ulrèd by thè SORP 2015 27 T¢)tsl Charitsble expenditure Curr•nt C￿rr￿t￿ar CufftDtyMr Prfoi Y•ar Totsi Fund• Currwjt Yea Fwnds 2023 2023 2023 Total direct sp8ThJing Total charrtable trading costs Total support costs B2a 91.657 91,857 111,857 82b 82d 6C6.15 90.357 .15B .357 620.692 107.925 Total chartlJlA• •xp•ndllurn B2 n8.172 788.172 840.474 I Iho exwdrtur¢ ￿tr* y•arwas unrestth Y•4r Prlor Ymr Fundb 22 2022 2022 Total direct Ipending Total tharrtable tradir4 costs Total $upport ¢o$i$ B2a B2b 82d 111.857 111,857 6ZO.692 107.02$ 107.925 Tot•1 ¢h•rll•tl• oip•ndftur• B2 810,474 840,474 28 Expond6tur¢ on ral•lny lund• •nd ¢ost• of In￿tm¢nI managwnanl wr•nt y••r ¢wrr•ntY41r ¢wT•DtyMr Prfoi Y•ir T*x•IFuThd• Toi•l Fund• Current Yur Fwnth 212) 202J 212) 2022 Fundraising pU￿￿ty & matheting Co$t otfvndrai$ing 5S,063 38,670 21,149 52,6J6 36.670 Totsl fundv•l¥lng ¢o¥t• B1 91,733 91,733 80.785 I lh8 exrwdrture inthe Year￿ unf￿r￿J. Musllm Rosoarch and 08velop8mont Foundatfjon Actmty analysls 01lnccA￿e ￿ eXPend￿Ure lorthefortheyearended 31 Decomber2023 29 Anoty81#ol Inton* by a¢tsvly SOFA r•1 2023 2022 Pnmary purwsethty 255,01S 255.115 .892 52 OonaihM & L¢gac406 InvestmÈnl ￿¢0￿? A1 875.￿7 261 Toiil Incorn• •• •brywn ID Ih• SC*A •14.559 afincom• 870.316 914. Jo Anitysll olcharltabl• 9Xw￿lIuv• by actmty Actlvny Dbr• $upport colts Grnnt lundlngof T¢)i•l Toi•l 20U 20U 2•23 2022 OWe¢l C49ts *Tllablp co￿￿ 91.657 J.ie4 •1.1$7 6.151 39.547 JT.T 024.egz 30.393 57.454 5.879 EmF4op•roFi$ 37.n6 MIn*ll￿￿e PrcthdonAII* Tot41Ch•rbt4N•4¢ihbty 197.$1J .4T4 SuMNryoI cMrftht4•t￿ts OSr• Support Griht funOln# of Toill Tffl 2¢2J 2•23 2022 Totd cfwR*I4 7.615 78b.171 810.471 •97M15 780.171 Musllm Rosoarch and 08velop8mont Foundatfjon Actmty analysls 01lnccA￿e ￿ eXPend￿Ure lorthefortheyearended 31 Decomber2023 Total A￿fvfty ChÈnlable*thbily 39.542 .814 ,356 31 Anoty¥1# ol non ¢h•rft•bl• •xp•rnl*urn ty￿1¥1ty ActlvKy 202J 2022 r•¢tfurAial•lw ¢¢• 91.n3 .785 2•23 2022 ToWcos11 91.733 80.783 Totsi nOheh411thbl*•xpMdK 91.733 10,7BS