Docusign Envelope ID: 0B6E41EB-08E9-438F-B7E7-6EFFB2CBA58C
Charity registration number: 1121296
AR-RAHMAH TRUST
Annual Report and Financial Statements for the Year Ended 31 March 2024
Docusign Envelope ID: 0B6E41EB-08E9-438F-B7E7-6EFFB2CBA58C
AR-RAHMAH TRUST
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 18 |
Docusign Envelope ID: 0B6E41EB-08E9-438F-B7E7-6EFFB2CBA58C
AR-RAHMAH TRUST
Reference and Administrative Details
Chairman
Mohammed Asif
Trustees
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Mohammed Asif Imran Khan Zaka Ullah Saleem
Secretary
Zaka Ullah Saleem
Principal Office
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527 Moseley Road Birmingham B12 9BU
Charity Registration Number
1121296
Independent Examiner
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Nasir Rafiq Independent examiner Bradfort Court 123-131 Bradfort Street Birmingham B12 ONS
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AR-RAHMAH TRUST
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.
Objectives and activities
Objects and aims
- a. Summary of objectives
The objectives of the charity as set out in its Trust Deed are as follows:
-
the advancement of education, relief of poverty and the promotion of good health anywhere in the world
-
the relief of suffering amongst victims of natural or other kinds of disaster anywhere in the world
-
for such general charitable purposes anywhere in the world as the trustees may deem fit from time to time.
-
b. Activities for achieving objectives
During the year, the charity achieved its objectives as stated in its governing document by undertaking the following charitable activities:
-
Food aid
-
Education
-
Supporting orphans
-
Healthcare
-
Water aid
Page 2
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AR-RAHMAH TRUST
Trustees' Report
Public benefit
Since the charity suffered a devastating setback of the unexpected closure of its bank account by the TSB bank a few years ago, the charity’s operation has gradually slowed down over the past three years. Although the charity is currently banking with Al-Rayan Bank, but with limited option of depositing the funds in as well as restricted services of making payments within the UK and abroad. The bank account issue has impacted the fundraising and expenditures of the charity seriously.
Despite many attempts to open a new bank account with various banks and money exchange companies, the charity struggled in sending funds abroad to carry out its projects. It was an extremely disappointing and frustrating year for the trustees.
However, through short term partnerships with an external organisations and by utilising lawful nonbank-bank fund transfer means, the charity managed to fund the following projects:
-
Education
-
Food Distribution
-
Eye camps
-
Zakat distribution
-
Water Projects
-
Orphans complex
The restrictions placed by the banking sectors in the UK and Pakistan have hampered the transfer of funds from the UK and therefore hindered the construction of the Ar-Rahmah Orphan Complex for which the donors have donated very generously.
The charity assures the donors that the land purchased for this project is still in its possession and the charity is making every effort to resume the construction of the project in near future. There were some legal issues regarding certain claimants to some of the land but the charity’s legal team in Pakistan has got most of those matters resolved successfully. The charity now aims to fulfil the aspirations of so many of the donors who sacrificed much earned contributions in order to provide educational opportunities for deprived orphans in Pakistan.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
During the year, the charity raised income of £80k (2023: £120k) and incurred expenditure of £138k (2023: £154k). The carry forward reserves of the charity stood at £577k (2023: £635k).
Structure, governance and management Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
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AR-RAHMAH TRUST
Trustees' Report
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
31 January 2025
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mohammed Asif Chairman and Trustee
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AR-RAHMAH TRUST
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
31 January 2025
Approved by the trustees of the charity on .................... and signed on its behalf by:
.........................................
Mohammed Asif Chairman and Trustee
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AR-RAHMAH TRUST
Independent Examiner's Report to the trustees of AR-RAHMAH TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which are set out on pages 7 to 18.
Respective responsibilities of trustees and examiner
As the charity’s trustees of AR-RAHMAH TRUST you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the AR-RAHMAH TRUST's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of AR-RAHMAH TRUST as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Nasin Rafig Nasir Rafiq Independent examiner Nasir Rafiq
Bradfort Court 123-131 Bradfort Street Birmingham B12 ONS
31 January 2025
Date:.............................
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AR-RAHMAH TRUST
Statement of Financial Activities for the Year Ended 31 March 2024
| Unrestricted Total |
|
|---|---|
| funds Restricted funds 2024 |
|
| Note | £ £ £ |
| Income and Endowments from: | |
| Donations and legacies | 13,853 66,099 79,952 |
| Expenditure on: | |
| Raising funds | (15,794) (30,212) (46,006) |
| Charitable activities | (40,283) (51,664) (91,947) |
| Total expenditure | |
| (56,077) (81,876) (137,953) |
|
| Net expenditure | |
| (42,224) (15,777) (58,001) |
|
| Net movement in funds | |
| (42,224) (15,777) (58,001) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 33,095 602,248 635,343 |
|
| Total funds carried forward 13 |
|
| (9,129) 586,471 577,342 |
|
| Unrestricted Total |
|
| funds Restricted funds 2023 |
|
| Note | £ £ £ |
| Income and Endowments from: | |
| Donations and legacies | 26,998 93,344 120,342 |
| Total income | |
| 26,998 93,344 120,342 |
|
| Expenditure on: | |
| Raising funds | (16,662) (8,991) (25,653) |
| Charitable activities | (15,279) (113,222) (128,501) |
| Total expenditure | |
| (31,941) (122,213) (154,154) |
|
| Net expenditure | |
| (4,943) (28,869) (33,812) |
|
| Gross transfers between funds | (2,808) 2,808 - |
| Net movement in funds | |
| (7,751) (26,061) (33,812) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 40,846 628,310 669,156 |
|
| Total funds carried forward 13 |
|
| 33,095 602,249 635,344 |
All of the charity's activities derive from continuing operations during the above two periods.
Page 7
Docusign Envelope ID: 0B6E41EB-08E9-438F-B7E7-6EFFB2CBA58C
AR-RAHMAH TRUST
(Registration number: 1121296) Balance Sheet as at 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| Note | £ | £ |
| Current assets | ||
| Cash at bank and in hand 11 |
599,947 | 637,121 |
| Creditors: Amounts falling due within oneyear 12 |
(22,605) | (1,777) |
| Netassets | 577,342 | 635,344 |
| Funds of the charity: | ||
| Restricted income funds | ||
| Restricted funds | 586,471 | 602,249 |
| Unrestricted income funds | ||
| Unrestricted funds | (9,129) | 33,095 |
| Total funds 13 |
577,342 | 635,344 |
31 January 2025The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mohammed Asif Chairman and Trustee
Page 8
Docusign Envelope ID: 0B6E41EB-08E9-438F-B7E7-6EFFB2CBA58C
AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
AR-RAHMAH TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Restricted | Total | Total | ||
| General | funds | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Donations and legacies; | |||||
| Donations from individuals | 13,853 | 66,099 | 79,952 | 120,342 | |
| 13,853 | 66,099 | 79,952 | 120,342 |
3 Expenditure on raising funds
Costs of generating donations and legacies a)
| a) Costs of generating donations |
and legacies |
|---|---|
| Unrestricted | |
| funds Restricted Total Total |
|
| General funds 2024 2023 |
|
| Note | £ £ £ £ |
| Donations | - 30,212 30,212 - |
| Marketingandpublicity | 15,794 - 15,794 25,653 |
| 15,794 30,212 46,006 25,653 |
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
Total 2024 £
==> picture [373 x 36] intentionally omitted <==
4 Expenditure on charitable activities
| 4 Expenditure on charitable activities |
4 Expenditure on charitable activities |
|---|---|
| Unrestricted | |
| funds Restricted Total |
|
| General funds 2024 |
|
| Note £ £ £ |
|
| Grant funding of activities 14,372 51,664 66,036 |
|
| Governance costs 10,976 - 10,976 |
|
| 25,348 51,664 77,012 |
|
| Unrestricted | |
| funds Restricted Total Total |
|
| General funds 2024 2023 |
|
| £ £ £ £ |
|
| Education 1,156 1,413 2,569 - |
|
| Food Aid 2,675 3,268 5,943 9,387 |
|
| Supporting Orphans 6,816 8,317 15,133 16,028 |
|
| Water Aid | 3,775 4,612 8,387 - |
| Fidya / Zakat | 14,277 17,442 31,719 75,885 |
| Health | 4,604 5,625 10,229 27,202 |
| General Fund | 6,980 8,527 15,507 - |
| 40,283 49,204 89,487 128,502 |
|
| Activity | |
| undertaken Grant funding of Activity support Total Total |
|
| directly activity costs 2024 2023 |
|
£ £ £ £ £ |
|
| Fundraising and | |
| Publicity | 15,794 30,213 - 46,007 25,653 |
| Education | 44 - 126 170 9,387 |
| Food Aid | 94 490 292 876 75,885 |
| Supporting | |
| orphans | 558 55,088 744 56,390 27,202 |
| Water Aid | 470 - 412 882 16,028 |
| Fidya | 17,895 8,073 1,559 27,527 - |
| Health | - 1,309 505 1,814 - |
| General | - 1,075 762 1,837 - |
| Independent | |
| Examination | - - 2,450 2,450 - |
| 34,855 96,248 6,850 137,953 154,155 |
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
£40,283 (2023 - £15,279) of the above expenditure was attributable to unrestricted funds and £49,204 (2023 - £113,223) to restricted funds.
In addition to the expenditure analysed above, there are also governance costs of £10,976 (2023 - £Nil) which relate directly to charitable activities. See note 5 for further details.
5 Analysis of governance and support costs
Governance costs
| Governance costs | |||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | 2024 | ||
| £ | £ | ||
| Independent examiner fees | |||
| Examination of the financial statements | 2,450 | 2,450 | |
| Legal fees | 1,376 | 1,376 | |
| Othergovernance costs | 7,150 | 7,150 | |
| 10,976 | 10,976 |
6 Grant-making
Analysis of grants
The support costs associated with grant-making are £Nil (31 March 2023 - £Nil).
Below are details of material grants made to institutions.
| 2024 | 2023 | |||
|---|---|---|---|---|
| Name of institution | Activity | £ | £ | |
| Ar - Rahmah Trust (Pakistan) | 6,000 | - | ||
| Waqf project | 28,088 | - | ||
| Global Aid Solution | - | 29,938 | ||
| Muslim in need | - | 54,050 | ||
| Al-Midrar Institute | 62,160 | 21,250 | ||
| 96,248 | 105,238 |
7 Net incoming/outgoing resources
Net outgoing resources for the year include:
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
2024 £
8 Staff costs
The aggregate payroll costs were as follows:
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| the year expressed as full time equivalents was as follows: | |
|---|---|
| 2024 2023 |
|
| No No |
|
| Number of Employees | - 2 |
No employee received emoluments of more than £60,000 during the year
9 Independent examiner's remuneration
| 9 Independent examiner's remuneration |
|
|---|---|
| 2024 | |
| £ | |
| Examination of the financial statements | |
| 2,450 |
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AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Cash and cash equivalents
| 11 Cash and cash equivalents |
|
|---|---|
| 2024 2023 |
|
| £ £ |
|
| Cash at bank | 599,947 637,121 |
| 12 Creditors: amounts falling due |
within one year |
| 2024 2023 |
|
| £ £ |
|
| Other creditors | 15,759 1,777 |
| Accruals | 6,846 - |
| 22,605 1,777 |
|
| 13 Funds |
|
| Balance at 1 Incoming Resources Balance at 31 |
|
| April 2023 resources expended March 2024 |
|
£ £ £ £ |
|
| Unrestricted funds | |
| General | |
| General | 33,095 13,853 (41,705) 5,243 |
| Restricted funds | |
| Family Sponsorship | 9,787 1,392 (55) 11,124 |
| Fidya | 330 20 (2,235) (1,885) |
| Health | 19,137 9,139 (1,340) 26,936 |
| Orphans | 116,938 6,040 (180) 122,798 |
| Orphans - Boarding complex | 279,740 995 (55,098) 225,637 |
| Quran Memorisation | 979 2,295 (44) 3,230 |
| Qurbani | - 1,608 (523) 1,085 |
| Ramadan Food Programe | 9,019 3,701 (59) 12,661 |
| Water Pump | 37,148 7,493 (321) 44,320 |
| Where Most Needed | 4,263 5,101 (137) 9,227 |
| Zakat | 124,897 25,971 (36,047) 114,821 |
| Zakat Al-Fitr | 10 2,344 (209) 2,145 |
| Total restricted funds | |
| 602,248 66,099 (96,248) 572,099 |
|
| Total funds | |
| 635,343 79,952 (137,953) 577,342 |
Page 17
Docusign Envelope ID: 0B6E41EB-08E9-438F-B7E7-6EFFB2CBA58C
AR-RAHMAH TRUST
Notes to the Financial Statements for the Year Ended 31 March 2024
| Balance at 1 | Incoming | Resources | Balance | at 31 | ||
|---|---|---|---|---|---|---|
| April 2022 | resources | expended | Transfers | March | 2023 | |
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General | 40,846 | 26,998 | (31,941) | (2,808) | 33,095 | |
| Restricted funds | 628,310 | 93,344 | (122,213) | 2,808 | 602,249 | |
| Total funds | 669,156 | 120,342 | (154,154) | - | 635,344 | |
| Unrestricted funds |
14 Analysis of net assets between funds
| Unrestricted | |
|---|---|
| funds Restricted Total funds |
|
| General funds 2024 |
|
| £ £ £ |
|
| Current assets | 13,476 586,471 599,947 |
| Current liabilities | (22,605) - (22,605) |
| Total net assets | |
| (9,129) 586,471 577,342 |
|
| Unrestricted | |
| funds Restricted Total funds |
|
| General funds 2023 |
|
| £ £ £ |
|
| Current assets | 34,873 602,248 637,121 |
| Current liabilities | (1,777) - (1,777) |
| Total net assets | |
| 33,096 602,248 635,344 |
|
| 15 Analysis of net funds |
|
| Financing cash | |
| At 1 April 2023 flows At 31 March 2024 |
|
£ £ £ |
|
| Cash at bank and in hand | 637,121 (37,174) 599,947 |
| Net debt | |
| 637,121 (37,174) 599,947 |
|
| Financing cash | |
| At 1 April 2022 flows At 31 March 2023 |
|
£ £ £ |
|
| Cash at bank and in hand | 652,330 (15,209) 637,121 |
| Net debt | |
| 652,330 (15,209) 637,121 |
Page 18