ADISIAMIA INsrrE FOR EDUCATION Report and Accounts 31stA st 2024 Charity Number.. 1121942
AL-ISLAMIA INSTITUTE FOR EDUCATION Flnanclal Statements Year Ended 31st August 2024 Contents Page Charity InfDmiation I"rustees' Report Independent Examinerfs Report ststement of Financial Activit'ies Balance Sheet 10 Cash Flow Statement Notps to the Financial Statements 12-14
AL.ISLAMIA INSTITUTE FOR EDUCATION Charity Infonnation Legal Status Registered UK charity - Registration number 1121942 Registered on 11th December 2007 Governlng Document Trust Deed dated 20th September 2006 Trustees Mr Zubair Kola Mr Ahmad Ebrahirn Dadibhai Mr Haroon Mahmood Makda 1ndepen.dent Examiner Mr Akbar Dedat CRYSTAL BUSINESS SERVICES LTD Chartered AcGountantslRegistered Auditor 264 Stoney Stanton Road COVENTRY CV14FP Bankers Al-Rayan Bank LEICESTER Prlncipal Address Al-lslamia Institute for Education 5-7 Evington Street LEICESTER LE2 OSA
AL.ISLAMIA INSTITUTE FOR EDUCATION - Registration No 1 121942 TRUSTEE'S ANNUAL REPORT Year Ended 31st August 2024 Al-lslamla Institutg for Education Trust prosents its Annual AccoLtnts and Trustee Reporl for the Academic Year 2023124, The primary and pre-schoc>l both remained a popular choice with parents, with a totsl of 86 children registered for September 2023 in Y1-Y6 and 51 In the EYFS (toddlers-Reception). Trustees The charity's trustees, from 1st September 2023 to the dat8 of this r8port, w@r8 are as follows: . Mr Zubair Kola Mr Ahmed Ebrahim Dadlbhai Mr Haroon Mahmood Makda Thg charity is mindful of the facl Ihal only persons who are fully supporilve of tiie charlty's objec.tives and are approprialely qualified to make a positive contributlon trj the charity are considered for appointment as trust86S. Apart from Mr Z Kola all of the twstees are volunteers and are not In receipt of any remuneration or other flnancial benefits. Mr Z Kola is one of the original trustees appointed in 2006. Mr A E D8dhibhai and Mr M H Makda w8re apppoiriled in November 2019. In th8 event of any deaths the trust8es are empowgred to appoinl a suitable r6pla¢ement. In order to carry out th8ir r8sponsibilitl8S 8ff8CtiV8ly, thew 8r8 r8gul8r tmstee me8ting8 h81d. Th8 day to d8y administration decisions and ind8ed Ihe long- term managemant plans are discussed as necessary in such meetings. After consultations wlth the trustees and the school's senior staff the decislons are finally approved by the actlng chalrman of the meetlng. Publlc Beneflt The trustees believe that the organisation satisfles the requlrements of sectlon 17 of the Charities Acl 2011 regarding public benefit because the general community benofits from tha organisation's activities. statement of Truste8 Responsibilities The Charities Act requir@ thts twste6S to pr6par8 accounts for each financial year whlch give a true and fair view of the state of affairs of the charity and of the surplus or deficit for that perlod. In preparlng those accounts, the trustees are required lo.. Select suitable accounting policies and then apply them conslstenlly. -make judgements and estimates thal are reasonable and prudent. -Prepare the accounts on the going concern basis unl8ss if Is inapproprfate lo presume that the charlty will continu8 to run. The trustees are responsible for maintaining proper accounting records, which disc105e the reasonable accuracy al any tim8 in lh8 financial position of the charity and to ènabl$ tham to &nsure that the accounts comply wlth 'th6 Charlt16s Act 2011. Thèy ar6 also responsibl8 for safgguarding the assets of the charity and hence for laklng reasonable steps for the prevention and detection of fraud and other irregularities. Objectlvos The maln objectives of the charity is advancement of the Islamic religlon as practised by the Sunnl Muslims In the area of benefit and in particular by the provision of a prlmary school and the advancement of the education of children both generally in accordaiice with the Education Act 1994 and any statutory amendments or re-enactments and on the princlples of Ihe Islamlc faith.
AL-ISLAMIA INSTITUTE FOR EDUCATION - Registration No 1121942 TRUSTEE'S ANNUAL REPORT Year Ended 31st August 2024 Financial Policies Investments The charity does not have any Investments. GntS The charlty does not normally make grants to any Individuals or organlsations. Rlsk reviews The trust@es p8riodically examine the major rlsks that the charity faces and proTrdures are in place to mitigatè and control such risks to ensure smooth op8rations. Introductlon Th8 primary and pre-school both remained a popular choice wlth parents, with a total of 86 children registered for Sept8mber 2023 in y1-y6.and 51 in the EYFS (todd16rs-Reception). Pre.S¢hool Provlslons We are pleased to report on the progress and achievements of our preschool over the past year. Our latest assessment data shows that most of our children are achi8ving a good level of d&v8lopment by th8 end of the receptlon year. This is a key indicator of thelr readlness for school. Our staff have underlakgn high6r-16vel courses to enh8nce their skills and knowledge, which will benefit our children and the preschool.W@ continue to provide high-qU81ily car6 and educatlon to our children, which is reflected in our good level of development outcomes. Our low staff turnover has @nabled us to provid8 consistent care and education to our children, whlch IsseNa-for th6iFdevelopment-aAd-w811-b8lRg-W&haywaltlng- lists for our F1 and F2 cl8SS8s, demonstrating the high derlland for our serceS and the twst that famllles ave In our preschool. We are committed to ongoing Improvemenl and will continu6 to roview and refine our practice to ensure that we are providing the best possible services to children and families. W.8 will also continue to support the ongoing development and training of our staff, whlch will benefit our children and th@ pr8school. W8 have been proud of our achievemenls over the past year and are committed to continuing to provide high-quality early years education and car8 to children in our community. Prlmary Provlslons Curriculum: Al-lslamia Institute for Education delivers a broad, ambltlous and knowledge-rich curriculuni that aligns wlth the expectations of the National cU1CulUrn while ref lecting the school's Islamic ethos and velues. The curriculum is carefully sequenced to ensure progression across all subjects, with clear planning frameworks and schemes of Work adapted to meet the needs of pupils from diverse linguistic and cultural backgrounds. Strong emphasis is placed on oracy, early r8ading. and mathematical fluency, supported by structured teaching strategles, Including Rosenshin&'s principles and targeted intervention. Enrichment opportunities, including local vlsits and faith-based learning, are integrat8d to gnhance pupils, cultural capital and deepen their under51anding of the world around Ihem. Throughout the year, maintenance h£s continued, ensuring that the space remains safe and available for KS2 children to use for dally lunchtime and play,
AL-ISLAMIA INSTITUTE FOR EDUCATION . Reglstratlon No 1121942 TRUSTEE'S ANNUAL REPORT Year End8d 31st August 2024 ACHIEVEMEN"rs AND PERFORMANCE The broad, ambitious and carefully consid8red curriculum conllnued to be delivered at Al-lslamla Institute thls year. Children enjoyed In-class and &xt6rnal experi@nc6s, including working with the Peac9 Centre to organlso and dglivèr a foodbank $6rvic&", altèndlng the Ic6. rink in D8cember and visiting Ninja Warriors al the end of the school year. Years 5 and 6 vlslted the careers Initlative at the Space Centre, while Years 3 and 4 alt8nded workshops planned in collaboration Wlth class teachers and Space Centre staff to learn about el&ctricity and weather. Pupil Voic6 carri8d out gach ten indlcated Ihat nearly all pupll8 appreciated and enj¢yed thè opportunities at Al-lslamla, Flecent davelopments In currlculum leadership have 8UPPOrted significant improvements in curriculum consist6ncy and quality of provision. Subject leader5 are Increasingly confident in monitoring and r6fining their areas, supported by effective line management and access to high- quality professional developmenl through parLnerships with Coventry Universily and the Leiceslershire and Rutland Teachlng School Hub. Teachers benefit from a strong coachlng culture and collaborativa planning time, which has strengthened the alignment between long-term planning and classroom practlL8. Curriculum delivery is having a demonstrable impact on pupll oulcomes. Pupils across the school, including those wilh English as an Additional Language {EAL} and those with Special EducaOnal N8eds and Disabilitl88 (SEND). are making strong progress from their starting points. Attainment in the Phonlcs Screenlng Check, SATS, and internal a$sessm8nts is improving y8ar-on-y8ar, with many pupils reachlng or exceeding age-related expectations. Pupils are increasingly confident and refl@ctiv@ leJ8rners, wilh Islamic values embedded across the curriculum. This holistic approach ensures that Al-Islalia prepare8 it8 leamers not only for academic success but for responsible and respectful Gitizenship. The data for the attainm8nt Is below. compared to national outcomes.. Phonics Scr8ènin Year 1 Natlonal 80% Chock 2024 Year 2 School Natlonal I OOO/o 89/0 Yaar 6 SATS Data- May 2024 Students meetln e-related ex ectations Readin SPaG Maths School National School National School National 50.10 94% 720/0 Year 6 SATS Data - May 2024 Studenis achieving 'grpater depth, IGD) Overall Readlng, SPaG and Maths ¢omblned} National School School 190/0 Readin School Nalional 25% 281 SPaG School National 50/0 Maths School Nati0Tr81 Attainment data across the school continues to improve. The attainment data for all year groups for Summer 2023 and Summer 2024 is oullined below. ARE refers to 'age-related expectations, and GD m8ans 'great8r depth,:
AL-ISLAMIA INSTITUTE FOR EDUCATION - R8gistration No 1121942 TRUSTEE'S ANNUAL REPORT Year Ended 31st August 2024 Readin AREI+ Writln AREI+ 71°/. 820/0 11°/0 Maths AREI+ 76°/0 GD 27/0 29% GD GD 34°/o 240/0 -10/0 Summer 2023 5mmer 20Z4 Improvgment -2/0 210 Th8 above data has been analysed by Key Stage phase too.. Key Stage 1 (Years l and 21 and key stage 2 (Years 3 to 6): Writin Maths AREI+ 72/0 78/, GD 160/, 14/0 AREI+ GD 78,10 7% -14/. Key Stage 1 Readin AREI+ GD Summer 2023 Summer 2024 rov8ment 89% 130/. -13Q/ Readlng AREI+ GD 'Writin AREI* Maths AREI+ 69/0 78/0 GD GD Summer 2023 Summer2024 78Q/D 42% 840/0 2% 34% Improvemènt Improvement in attainment is visible in 213 of the data. In Maths in KS1 th8 decrease is attributed to significant needs and an increase in the number of SEND Ghildren working below age-related 8xpectations In Years 1 and 2. In KS2 Reading, an area of continued focus due to the significant EAL dgmographic, the increased challenge for reluctant readers and learners with limited contextual andlor vo¢abulary development is the key reason for the difference in attainmenl. ATTRITION AND RECRUITMENT: The school admlnlstrator resigned. all other staff r8mained in post: Altrition Notes School administrator Resigned to take up a post In a loc81 college. Recruitmenl Notes School administrator Recruited a hlghly quallfled and experienced administrator wlth experience in the service industry and a background In medlcine. 2 members of staff completed their Early Career Induction in December, and an 8XiSting member of staff completed their first year of induction..The current rate of quallfied teaching staff remains at 71 /0. Th@ school aims to maintain or exceed this statlstic as we move forward. OTHER RECFiUITMENT". The school has continued to employ the servicgs of a sports. coaching servlce to dellver specialist PE sessions due to the Improved engagement and Improvement In performance across Ihe school. STAFF CPD INSÈTS- Internal workshops contlnued to be developed and. delivered by the Deputy Head Teacher, inform&d by th8 prlmary school's improvement plan and misslon for development. Staff also attended workshops delivered by loGal hubs, such as fc)r English and writing mod6ration, and visil@d oth8r schools to observe and discuss good practic8,
AL-ISLAMIA INSTITUTE FOR EDUCATION - Registration No 1121942 TRUSTEE'S ANNUAL REPORT Year Ended 31st August 2024 GENERAL ACTIVITY l-he children continued to visit the local library arid local plaGes as part of curricular leaming, and thg Ygar 6 cohort had an outlng to 500 Burger and Splnney Hill Park after their SATS assessments. The whole school visitgd Ninja Warriors, a soft play and activity venue, at the end of the school year. Multiple events and activities warè deliver6d throughout the year, Includlng three Theme Days (December 2023, April 2024 and June 2024), as well ao Partlcipatlon with national events Such as World Book Day, Parliament Week, Brit15h Science Week and Cultural Dlverslty Day. Following the school's excellent participation with th6 2023 Beat the Street initiative, the school was awarded wlth a certlflcate and book vouchers In recognition of the student body's fantastic achl8veMent. A represeiitative of Beat the Street delivered an assembly and presented the award to the ohildren. GENERAL MAINTENANCE E)rtensive roofing repairs were carried out on the Evlngton Street site and the playground faclng wooden windows w8re all sanded down 2nd temporary repalrs done to minlmlse water damag8 lo the frames. Other small&r general mainlenance works were also carri8d out. Tenders for Colleglate House (new bulldSng} flre system was approved, and the installation has be8n scheduled for the new academic year {Seplember 2024125). Tenders for window rap8irslreplacements fire door repairs and roof repairs were also shortlisted. Th9 conditional dischargg for the planning application were nearing completion in readiness to be submitted at the beginnlng of the new academlc year. The fenclng, fire door ropairs and the ramp requirgd d8tall8. Due lo financial restraSnts the declslon was made to exclude the ramp details for a later period onc8 finances were reviewed. The appllcation for Ihe Security Scheme set up by th8 Hom8 Office for securlty measures for r81iglous schools and places of worship was accepted, Both buildlngs, Evington St and Collegiate House were approv8d for a complete new CCTV system, Intruder Alarm and all-round fenclng. The fenclng measure r8quired planning application which was to be submttiéd by tha Tnjst its&lf FINANCIAL REVIEW The financial review is as follows.. 1. Leicester City Council business rate5 obj8ction was not acc8pted by th8 council. The councll did not agree to the concession basing their declsion on tho fact that only the main building was officially listed and not all three bulldlngs. A request for an exclusive split concession for just the main bullding was also denied. The Trust is now considering taking legal action and a suitable law finn has been sought for, The Trust is therefore still required at pr@$8nt to pay the rates as invoiced. 2. The additional bullding, The Rowans, a church Hall In the same slte as the Trusts owned Colleglate House went up up for auction by Leicester CÉty Councll. The church site was successfully purchased for £907,000.00 plus VAT by a local buslnessman. He has plans to convert it into a Banqueting H811. Due to this change in circumstances a shared entry gate meeting was held on site with all stak&hold&rs. In a¢Jditlon, Al-lslamla also prolonged the meeting to discuss the outar boundary wall foncing and replacing and relocating of the local area electriclty distribution unit. This is situated on the Ttust side of the slte and on long term lease to Ihe electricity Company. The lease, a non-negotiable aspect of Colleglate House purchase explicitly highlighted in the land registry documents, is also up for renewal. 3. Due to Leicester City selling the above building (The Rowans) the shared electricity and Water bill which wer8 till now the responsibility of the council required resolving. The Trust and Leicester City Council agrged on a shared liabillty of thè bllls from 2020 to 2024.
AL-ISLAMIA INSTITUTE FOR EDUCATION - Registration No 1121942 TRUSTEE'S ANNUAL REPORT Year Ended 31st August 2024 This amount was entere.d into the account's utllity section. This and other factors, such as incorrecl CCL charges, VAT @ 20 /0 Instead of 5 /0 and incorrect high met8r bills due to change of supplier considerably raised the utility amounts for thls flnanclal year compared to previous years. These inaccuracles have been corrected and resolved and wlll be reflected in the following years account5. In additlom. It also became very evident the pre-school faGilitle8 could not be accommodaled without substantial costing. It was therefor8 decld@d to maintain the old Evington site for the pres8nt moment. 4. As with previous years, the loan repayment schedule was followed through with quarterly payments made to Ihe largest loaner, and further loans also repald. Extensive fund-raislng appeals for donations and loans wer8 wldely circulated. By th8 8nd of th@ financial period, th& overall loan for the new building went down byjust over £30,000.00 from £826,183,00 to £795,360,50 5. This heightened activlty was still not satisfactory for the largest loaner, and they were pressing for thelr loan to Lie fully repaid othenNis@ they were seriously threatening to enact the charge on the Evington St property to recoup the outstanding loan. In vi8w of this, urgent extensiv8 discussions ware had to explor@ alternate method5 like refinancing asset5 etc to ralse the much-needed funds tts rapel this thrgat. Eventually, a local investor was found that agreed to purchase the Evington St Site at market value price and lease back to Al-lslamia on reasonable rates. ThB mutual agreement was to lease back till either Al- Islamia was in a better flnanclal position to re purcha88 or vacate if the arrangement eventually b8came non-viable financially. Legal teams on both sides were appolnted. Desplte Ihe urgency due lo pressure from th8 loaner th8 salB had not compleled by the end of the financlal year. PLANS FOR FUTURE PERIODS: 1. To complete and submit the necessary planning application for th8 discharge of conditions. 2. To apply to City Planning for approval of installation of new fencing for both sites. 3. To complote the sale of the Evington St sile 8nd repay loans and fund necessary works. 4. Review the moving in date considerlng emerging siluations, circumstances and deadlines. 5. Renew appeals to ralse funds for loan repayment and buildlng works. Approved by order of the board oftrustees on 7th July 2025 and signed on its behalf by: Mrzubair Kola - Trustee ....... I4)0
AL-ISLAMIA INSTITUTE FOR EDUCATION . Reglstratlon No 1121942 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES, I report to th8 charlty trust668 on my èxamlnatlon •f thg accounts of Al-Is18mla In811tut8 for Educallon Ith8 Trust) for the year ended 318t August 2024. R6sponslblllll8$ and ba816 of report A8 tho charlty trustees of the Trust you are responslblo for tha preparatlon of the accounts In acMrdance wllh Ihe requlrements of th8 Ch8rltle8 Act 2011 {'the Act'l. I report.ln re3pect of my examlnatlon of the TrL$8t'8 accounts carrl8d out under 8ecllon 1,45 of the AGt and In carwng out my examlnatlon I have followed all appllcable Dlrecllon8 glvan by the Charlty Comm188lon under sectlon 14515>lb> of the Act. Indopondont examlneff8 8tatamont Slnco your charlV3 gross Income exceeded £250,000 your examlner must b8 a member of a 118ted body. I can conflrm that l am qualM8d to undertake the examlnatlon be¢au88 1 am a reglstered member of the In8tllul8 of Chart8r8d Aecountsnta In England and Wale8 whlch Is one of tha118t6d b¢488. I have completed my examlnatlon. I conflrm that no ffl81erlal m8tt8r8 have come to my 8ttenUon In connectlon wllh the examlnatlon glvlng me cause to belleve that In any malerlal re8pect: 1. acGountJng reaord8 were not kept In re6pe¢t of Ihe Tru8t as requlred by sectlon 130 of tha Act; or 2. the accounts do not 8¢cord wlth those record8', or 3. the accounts do not Comply wlth the appllcable requlrements Concernlng the form and content of accounts set out In the Charltles (Account8 and Reports) Regulatlons 2008 other than any requlrement that the account8 glve a trué and falr vlew whlch18 not a rnatter consldered as part of an Indepgndent examlnatlon. I have no concems and have come aGross no other matiers In connecllon wlth the examlnallon to whlch attentlon should be drawn In th18 report In order to enabla a proper understandlng of the account8 to be roached, 7th July 2026 Mr Akbar D6dat Chartered AcGounlant Crystal Busln6ss Servlce8 Llmlted Chartered Aocoun18nts 264 Staney Stanton R08d Coventry. CVI 4FP
AL-ISLAMIA INSTITUTE FOR EDUCATION Statèmont Of Flnanclal Actlvltles (Income and Expendlture Account) Year Ended 31st August 2024 Notes 31108124 31108123 INCOME AND ENDOWMENT Donations Investment profits 47,365 50 41,874 14 Charltable a¢tlvltl8S Sale of goodslseNiGes as part of charitsble activlties School fees Grant8 11,906 465.108 2,272 479,286 20,991 368,192 45,740 434,923 Totsl Jncomlng resources 526,701 476,811 RESOURCES.EXPENDED Charftable actlvltles Wages Pensions Rates and watsr Insuranc8 Light and heat Telephone Postage and stationary Bank charges Repairs and maintenance Books and resources Subscriptions Training Cleaning Transport and travel D6preciation of property Depreciation of equipment 390,158 4,771 28,237 2,351 21,876 1,136 2,875 25 18,894 31,135 2,303 13,332 3,333 773 26,319 347,973 4,551 20,617 2,256 9,541 2,376 16 6.530 27,629 2,937 5,979 3,486 252 25,777 183 461,051 547,665 Governance costs Accountancy costs 800 800 Total resources expended 548,465 461,851 NET INCOMING RESOURCES -21,764 14,960 Balance at 1st September 2022 282,971 268,011 TOTAL FUNDS CARRIED FORWARD 261,207 282 971 ALL OF THEACTIWTIES ARE ON CONTINUING BASIS ALL OF THE FUNDS ARE UNRESTRICTED
AL-ISLAMIA INSTITU'fE FOR EDUCATION Balance Sheet as at 31st August 2024 Notes 2024 2023 Flxod assets Tangible assets 1,129,114 1,154,510 Current assets Cash at bank and in hand Prepaid rates 39,528 7,145 46,673 16,831 16,831 Credltors.. amounts falllng due wlthln ono year 188,784) (33,752) Nat current as8Otslliabiliti88 42,111 16,921 TOTAL ASSETS LESS CURRENT LIABILITIES 1,087,003 1,137,589 Credltors,. amounts falllng due after one year (825,7g61 1854,618) Net assets 261,207 282.971 Funds Unrestrlcted fund3 261,207 282,971 TOTAL FUNDS 261,207 282,971 The financial stat'ements w8r8 approvgd by the Board of Twstees and authorised for Issue on 7th July 2025. ndr Zubair Kola - Trustee ...... *w) 10
AI-ISLAMIA INSTITUTE FOR EDUCATION Cash Flow Statement Year Ended 31st August 2024 2024 2023 Ca h Flows From O oratln Nèt Incom ing Rosources Depreciation Movements in Debtors Movements in Creditors Actlvltlos (21,764) 26.466 .{7,145} 26,210 23,767 14,960 25.960 47,047 (6,127) Cash Flows From Inve$tln Purchase Df Flxed Assets Actlvltles (1,070) (14.612) Chang8s in Cashlcash equivalents 22,897 {20,739) Cashl Cash equivalents At 1st Septernber 2023 16,831 37,570 Cashl Cash 8quival8nts At 31st August 2024 39,528 16,831 Anal Is of Cashlcash E Bank account balances Cash In hand uivalents 37,6.74 1,854 39,528 16,195 636 16,831
AL-ISLAMIA INSTITUTE FOR EDUCATION Notes to the Accounts For The Year Ended 31st August 2024 1. ACCOUNTING POLICIES Basls of preparlng the flnanclal statements The financial statements of the ¢harity,'which is a publlc beneflt entlty under FRS 102. have been prepared in accordance with the Charities SORP, (FRS 102) 'Accounting and Reporting by Charities." Statement of Recommended Practioe applicabl8 to chatities preparing their accounts in accordance wlth the Financial Reportlng Standard applicable in th8 UK and Republic of Ireland (FRS 1021 (effective 1 January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Flepublic of Ireland, and the Charitie5 Act 2011. The financial statements have been prepared und8r th& historiGal cost conventlon. In¢ome All income is recognised in the Statement of Financial Aclivities onc8 the charity has entitièm&nt to. the funds, it 18 probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constNctlve obligation committing Ihe charity to that expenditure, if Is probable that a transfer of econornic benefits will be required in settlement and the amount of th8 obligation can be m8asur8d reliably. Exp8nditure is accounted for on an accruals basls and has been classlfied und&r headings that aggr8gat8 all cost r8lated to th& category. Where costs cannot be directly attributed to particular headings they have been allocatéd to aGlivities on a basis consistent wtth the us8 of resourc8S. Tanglble flxed assets Deprecialion is provided at the following annual rates in order to wrtLe o'ff each asset over its estimated useful life. Freehold property- 20/a on cost straigbl line Equipment- 20 % reducing value Taxatlon The charlty is exempt from tax on its charitable activities. Fund accounting Unrestricted funds Can b8 used in accordance wlth the charitable obJectlves at the dlscretlon of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when ndS are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the financial statemenls. Penslon costs and other po$t-retlrement benefits The charlty op6rales a defined conlribulion pension schemg. Contributions payable to the charitls pension scheme are charged to Ihe Statement of Financial Aclivities in the pgriod to which they relate. 12
AL-ISLAMIA INSTITUTE FOR EDUCATION Notes to the Accounts For The Year Ended 31st August 2024 2. INVESTMENT INCOME 31108124 31108123 IBB Proflt 14 14 3. TRUSTEES, REMUNERATION AND BENEFITS Included in the wages costs is £22,34412022123 £20,318) which relates to wages paid to Mr Z Kola, a trustee, for his services as a full time head-teachgr together with othar related services. The payments are made in accordance with a provlslon in the charity's governing document. Trustees expenses There were no trustees, expenses pald for the y6ar ended 31st August 2024 (year ended 31 st August 2023 £nil). 4. STAFF COSTS The av8rage monthly number of employees durlng the year was as follows: 31108124 28 31108123 26 Teaching staff Auxiliary staff Administrativè staff 31 28 No employee8 rec6iV8d emoluments in excess of £60,000 5. TANGIBLE FIXED ASSETS Freehold property Equipmeht Totals Cost Al 1st Seplembef 2023 Additlons At 31st August 2024 1,314,858 1,070 1,315,928 30,107 1,344,965 1,070 1,346,035 30,107 Depreciation At 1st September 2023 Charge for year At 31st August 2024 161,082 26,319 187,401 29,373 147 29,520 190,455 26,466 216,921 Net Book Value At 31st August 2024 At 31st August 2023 1,128,527 1,153,776 587 734 1,129,114 1,154,510 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31108124 31108123 Trade creditors Advance deposits Taxation and social securlty Other creditors 50,543 4,429 3,400 5,002 20,921 33,752 1,717 36,524 88,784 13
AL-ISLAMIA INSTITUTE FOR EDUCATION Notes to the Accounts For The Year Ended 31st August 2024 7. CREDrroRS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31108124 31108123 other creditors 825,796 854,618 LOANS An analysis of the rnaturity of loans is given below.. 31108124 31108123 Amounts falling between one and years: Other loans - 1-2 yaars 825.796 854.618 SECURED DEBTS The following secured debts are included wlthin credttors, 31108124 31108123 Loan 400,000 563.500 The loan is secured by way of a legal first charge over freehold properiles known as 5-7 E)nngton Streat,Leicester and Collegiale House. CollBge Str88t, LeiG8Ster. 11. RELATED PARTY DISCLOSURES Apart from the head-master remuneration, th8re were no related party transactions for the year ended 31st Augusl 2024. 14