Mapus-smith &Lemm2ft LIP Charlty r•gl•tralk>n nUmr 1123161 SADAT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
SADAT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trnstees Mr S Hussain MrA Hu$$ain Mr S Shah Chaiity number 11231S1 Princlpal addr• 25 Shaa Road Actijn London 7LW Ind•pendont •xwniner Mapus-smith & Lemmon LLP 23 London Road Downham Market Norfolk PE38 9BJ B•nk•r¥ Bardays B8nk Lc8St0r LE87 2BB Solloliols Stone lfjtvJ LLP Boundary House 91 Charterhouse Street London EC1 M 8HR
SADAT TRUST CONTENTS Pag• Twstses. report Independent 8xaminerfs rewt Stalernenl of financial actlvitie8 Balancè sheet Not88 to the finanal statements 6-10
SADAT TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Tho In10@$ presanl thelrannual report and financaal ststements for the year ended 31 March 2023. The financial statements have besn ppad in acoJTdanca Mlh the accounting poficies sel out in note 1 to the financ4al sialements and compty ¥th the charityslgoveming tJo¢umenll, the CharitJe5 Act 2011 and "Accounting and Reporting by Charibes.. Ststemenl of Racornmended Pracfjce appllcable to chariti85 preparing thek accounts in accordan wrth the Financial Reporting Standard applicable in the UK and Republic of Iraland IFRS 102)" {eff9Ctfve 1 January 20191. ObJactlY•* and aclfvltl•s Thg cknaritys objects are.. To relieve poverty. olstress and financlal hardship for those in red. E$pecSaliy wldws and orphans. To relieve sickness and promotè good heallh induding. without hmhallon, by knpmmng standards of heathcare and hygigne. To advance educallon, induding by a$SlIng and supportir¥J young peopla so as io enatyg them lo skn(ty on recognised courses. To advance the rdigion of Islam. mainty. but ntsl exdu&vely. by SUFVOrtlThJ th8 constTUCtMM of new mosque6 and 1801ithe8 for Worship. The trustees have PgKI due regan1 to guidance issued by the Charity commion In dling what acti¥iti•$ the chth shoukl undertake. hl•v•m¢nts and porfomwnco The charrtvs fingnoial 119$ afe 8lknYn on page 4 ofthese financlgl staternents. The Iiuslees will continue lo use Ns fvnds lo fijrther th8 charity$ obie¢tTves. GNen the fltualnS in donattons r9oelvgd, Ihe charfty r8tsln8 8uffi(ient knds to ensure conllnued 8UFI)ort lo the various bodies to wPK4n grants ar8 givèn. The Intstoes consider that these actMt19s. $ummarlsed above, woifjde benefrt both frjr Ih¢)se vtho wor8FMp at the nh)sques and to the community in gènar•l. Financial rnvi•w It is the poliry of the tharty thal unrgstrkted funds which have not been designated for a speclfic use should be malnlalned at a level equwalent to bèhyoen three and six month's èxpendibJr&. The trustees 0)nSid that reserves al this18vel will ansure that, In the event of * significant drop in funding, they will be able lo continue the chaiity's rTant aclnirfiès Wthi ¢onsKl&ralion is given to ways In whlch addillonal funds may be raised. Thls level of reserves has boen mairrtained throughout Ihe year. The INstee8 have assessed the major risks to which the tharity is exposed, and arg satisfied that systems are in place to mibgate 8XP05ure lo the major risks. StnKturE. governanee and th¥n•g•m•nt The charity is constituied by a Deèd of Tt dated 21 January 2(8 and is registered wmh the Charity Commission. r&3iStration 1123151. Thè trustees who 8erved during the year and up to the date of sognaiure ofthe finanrAal statements were: Mr S Hussain MrA Hu88ain Mr S Shah Tha power to appoint trust¥o$ rests wlth the Irusle8s.
SADAT TRUST TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENDED 31 MARCH 2023 The Iru$lg9s' report was opwoved by the Board of Trustees. Mr S Hu$1Th Trustee MIA Hui$•in Trustee Dated.. .4..l.:-. .l.2S
SADAT TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SADAT TRUST l report to the Iruslees on my exarrllnation of the financf81 ststements of Sadat Trust (the charmyl for the year •nded 31 Maith 2023. Rwpon8lbllltl68 and bas18 of rnport As the trustees of charity you a responsible for the preparath)n of the )Inancial statements in a¢eordan¢e wrth Ihe requlrements of the Charib"esAd 2011 lthe 2011 Acti. I report in r68wI of my examination of the charivs fln8ndal statements (¥rrfed out under setOn 145 of the 2011 Act. In carying out my 6xaminalion I have fdlowed 811 the applI(b Direct)ns given by the Charity Commissicn under section 14515llbl of the 2011 Acl. Ind•p•nd¢nt •xaminttrf$ •tatsm?nt Yow attenlion is drawn to the fact that the charity has prepared financial statements in accordan¢g wlth AcLounts'ng and Reporting by Charitses prepadng their aCunts in acurdance wrth the Financial R&pOn9 Standard appllcable In the UK and RepuLll¢ of Ireland IFRS 102) in preferèncè to the Accounting and Repo"ng by Charittes.. Statement of Recommended PractK8 issuod on 1 April 21)05 whlch is referred lo in the exlanl regulations but has now been wllhdrawn. l Undeld Ihat this has been done in ordor finanraal ststémènts to provjde a twe and fair view in a¢LX)rdanch th Generally Accepted Accounling Pr¥clKe effective hr reporting periods beginning on or after 1 January 2015. I h¥v¥ completed my examination. I confirm that no matters have come to my attention in connection wlth the examinab.on gmng me Cause to beliève that wi any rnateri respect.. unting records wère not kept in resk)ect of the ¢harrty as required by seLion 130 of the 2011 Aet., or the financial statements do r¥)t accord with those re(x>rd$" or the financial statements do not compfy with the apF4icable requir6ments conceming tho form and content of accounts set out in the Charits (Accounts and Reports) Regulations 2(M18 other than any requlrement th81 the aOnIS give a true and fair eW Is not a mattar eonsidaréd as part of an independent examinalron. I have no conc8ms and have ¢om8 arX0 no other matters in connectKJn with the examination to whlch attention ShOd bo (trgwn Ni this rewt in order lo enable a prt¥Jer understanding of the finar statsm*nl$ to r&ach8d. Paul F8ffow. F.CA. F.C.CA. M.AA.T. M8pusSmrfh & Lemmon LLP 23 LoThJon Road Downham Market Norfolk PE38 98J
SADAT TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 funds 2023 funds 2022 Incom• from.. DonatJns and18gades 33.300 ndithrn on: Charrtable acbmlies 71,535 30.725 N•t l•xp•ndliur•Vlncame ft1 th? yoarf Net movemont In funds (13.149) 2,575 Fund balan9 at 1 April 2022 77,102 74.527 Fund balance8 at 31 Mar¢h 2023 63.953 77,102 The Statement of financral aaivitie$ Indudes al gans 8nd losses recognisod in th& year. All incomè and expendibjre d8riv8 from continuing acliuib8$.
SADAT TRUST BALANCE SHEET AS Af31 MARCH 2023 2023 2022 Current assots Cash at bank and in hand 83.953 77.102 N81 curronl assets 63,953 77,102 Income funds un$1Cted funds 77,102 63,953 77,102 The fin8naal statements wer& aFproved by the Tru6tees on.... ... MrSHus TnMts• MIA Hussain
SADAT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR ThIE YEAR ENDED 31 MARCH 2023 Accounlln9 poll¢lo• Charlty infomatio Sadat Trust is conslftut8d by a Deed of Trust dated 21 January 2008 and is wstwed wrlh th8 Charity Comms1on, reglstralron 1123151. 1.1 Accoundng convontlon The finan&al statements have been prèpared in accordance with the chariws tgoveming documentl, the Charities Act 2011, FRS 102 Yha Financial Rwbng Standard appli(able In tha UK and Repubfic of Irèland. rFRS 1027 and the charits SORP 'ALwunting and Reporting by Charities.. Statement of Racommanded Pro applicable to charitle8 preparing their a(xounts in ac(xJrd8n¢e wnh the Fbnandèl Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. {ffactive 1 January 2019). The Gharlty b a PUbC Benefft Entity a$ d&fined by FRS 11r2. The chartty ha$ taken athntag8 of tho Pro7$105 in the SORP for chariues nol lo prepare a Statemgnt of Cash Flows. The ffinanclal statements hav• departed from th8 Chariti8s IAccoLml$ and Report51 Regulalions 2008 onty to the extent required lo provkJ8 a true and tsir wew. This d8p8rture has Invdved followng th& Stalernenl of Recornm8ndgd Praetitx for tharities apptying FRS 102 iattwr than the versKJn of the Stslem8nt of Recomrnended PraCte whlth Is referred to in the Regubth'ons but which has sinc8 been wthdrawn. The finawal statements are PTepar8d in $terfing, whK 15 the fijncllonal currency of the ¢harty. Monglary 8mounts In thes& finanual ststements we rounded to the nèarest £. The ljnandal Statements have been prepared under the historical convention. The principal )Unting policies adopted are $81 out below. 12 Golng coftc•m Al the Ume of approving the financial statements, th8 truste&s have a reasonab expectation that the tharity has adequate $our¢e5 lo ¢ontinu& in cperational 051&n for the foreseeab future. Thus the twstee5 C4)ntinuo to adopt the g<xng ¢rn basis of accourfng In weparing the finanaal statemenls. 1.3 CharltablD fund UnrestM(ae(I funds ar8 avaiiabls) use at the discretlon of the trustees In fvrlhèranc of Iheir charitablè obja¢bves. Restrtcted funds are subject to speafic (x)ndilions by donors a5 to how they may be used. The purposas and uses of the reslricaed funds arg Set out k) the notes lo the finan¢tal $tstgmenl5. Endowm8nl funds are subjed to coThJrfion8 ty donors that the capital must be maintained by the ¢harty. 1.4 Income 1$ reccgnlsed when the charlty Islggaty 8nfiile(I to it after any performance coTrJittons have been met. the amounts ¢an be measured reliabty. and it 1$ probable that income wll b8 reeeNed. Cash donations are rets)gnised on roc8lpl. Othar donations are regnised once the charmy has notTr of tha donatlon. Un$$ perfNmanc8 conditions require defeal of the arno1. In¢ome lax recoverablg In rglation to donalions received under Gmt Ald or deads of covenant is recognisgd at the lime of the th)nation. Legaaès are recognL8ed on recerpl or olhtVAse rf the (aTity has been notified of an impendwig distributbn. thè amount is known, and receipt is expocl8d. If Ihè amount is not known. the legacy Is treated as c•ntiThJent asset
SADAT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 untlng pollci•$ (Continu) l.S ExpendirE Expènditure 1$ recognised onc• th019 Is a legal or conslruthe obligation lo transfer economic benefrt to a third party. 11 Is probable that a transfer of eo)nomic benefits WTII be required in sotll8mnl, ar th8 amount of the 10n can be measui8d reliabty. endrtLre is classifd by actwrty. The costs of èach actmty arè made up of the total of dirA ¢osts and shared co$ts, including support CQ815 involved in undertaking each acté. Direct costs attributable lo a single tivty are all(•d direth to that acbwty. Sh8red o)st$ whi¢h ntribUte lo morg than one adivity and support eA)sts whi(a) are not attributable to g 8in9le acllvity we appor10r betren tho$& activilie5 on a basis consistent with the use of resour¢e$. Central staff costs are albcated on the ba81s of Irme s, and depreciation charges are allo&ited on the portion of the asseys use. Bas financial liabile$. including c¥editors and bank loans are inilialty reo)gnl$ed al transaction price unlèss arrangement constbtutes a financing transaction, where the debt instrumsnt is m&a$ured at th& present valuo of the fijlure payments dIOUnted at a mark8t rate of intero$1. Fin8ncral li8bHrbes dasslfied as payable one year are not am058d. Debt instruments are sut)sequenlty carried at amoitisod ¢o$t, usSng the effoctfve inlèr6$1 rate mgthcd. Trad8 eredit¢ys are obligafron5 to pay for goods or seM(s that have been acquired in the cwrfinary course of operations from suppliers. Amounts payable are dassffied as current liabl&tS rf paym&nt is due within year or less. If not, they are presented as non-current liabilitie5. Trade cr@ditors arè r8cogni$ed inttialty at transactk)n price and subsequentty mga$ureil at amortised c¥)sl using the effectivg Into$1 method. Gtanls payab a payments made lo thlrd parb¢s in the furtherance of charilatle oblethves. Where ihe chaiity gives a grant with conditions for its paymtrnl being a Specific level of service or output to be prod0d. such an18. a 0Y recognised in the SOFA cce the ferypient of the grant has rAovided the specafic $Va or output. Grydnts payable wrfhout p8rformanc8 COn(&tsc3 we onty recognised In the acunt5 when a commitment has been made and ther8 ar8 no ¢ondition5 to be rnol rdatiro to the grant whiL remain ion the contrc4 of the charity. Promsions for grants are maile when the intention to make a grant ha5 be8n communicatsd lo the recipient bul tharo is uncèrtainty about either the timmg of thg grant orthe amount of grant payablè. Govemance c>)sts Indude t>)sts of the preparation aNJ eXamInat5n of the statutory accounts, the costs of trust88 maotings and cost of any lo trustees on governan or nstitutional matters. 1A Cash and cash •qulv•lents Cash and cash equivalents indude ¢ash in hand, deposits held at call with banks, other sh¢)rt-1gmi IUld Investments with original maturfU88 of thr88 mcnlhs or less. and bank overdrafts. Bank overdrafts aro Shown thin borrowings in current liabilities. Basic financA 88sel8, whic inchjde debt3 and cagh bank bdances, are inih8ty measured al transaction price induding Iransactton costs an¢J are subsequenlty farried at amorfis8d $t uslng the effectNe interest method unie38 the argernent constrtutes a ffinnng transacthjn, where the transaction measured al the present value of tha fvture receipts discounted at a market rate of InteresL Flnancial assets dassified 88 re1vable wthin ono ygar a not amortised.
SADAT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 Accountlng poli¢i•¥ Icontlnued) Bas1¢ flnan1fmblI1lIeS Basic financial liabilities, indutthng crfjdilo and bank loans are inrtialty re¢c4Jni$ed al transactlon price unless Ihe arrangemonl constitutes a financing transaction. where the debt instrumant is maasurÈd at the present value of the fvture payments ¢Jlxounted at a rnaet rate of interest. Finani?al liabilithes classified as payabje thin one year are mt amortiS8d. Debt nstruments are subsequenlty carried al amortised 51, using the effedNe interest r method. Trade uedit3 are obligations to pay for goods or service5 that have been acquirad in the ordinary o)urse of operations Irom suppliers. Amounts Payab are classified as current liabile$ rf paymerrt is du8 Within one year ty less. If not, they ara presantad as non4urrent Iraknlibes. Trade cxedhors are recognised initia#y at trans10Th prrce and subsequ•nty measured al amortis8d o)st using tho eff¢¢tive interest method. D•r•cognltlon of fina11 Ilabllldes Finanaal liabillUg$ are dgrecognised when the ¢tharity's o)ntr8clual obIlgaon$ èxpire or ale dtscharyed c¢ caneelled. 1.7 Employ•• b•n¢fitss The cost of any unused holiday enlitl8ment is rgcognlsed the period in wfiith the empknyee's 8ervice8 e Termination benefits are recognised immediatdy as an expense when the tharfty Is demon81rably committed to twminate the empkjyment ofan empJoye¢ or lo prowde teThnination b&n8fits. 1 Fund accounting polley Unrastridèd income fvnds are g•n8ral funds that are avalable for use * Ihg trustees, dWelon in fijrtherance of ts obje(*ives ofthe charity. Crilical acc<wnllny •slhnats8 and judgem•nts In the application of the charity's accounting poli<aes, the Iwstees are required to mako judgements, estimatgs and assumptions aboLrt the corying amount of assets and liablilies that are not adIty apparent from other sour¢e5. The estimates and as$ooatsd a8sumplK)ns are based on historical experience and other factors that are considered to be relèvant. Actual resufts may drffer from thase &stim8tes. The estimates and undertying a55umptions are rewewed on an ongoing basis. Remslons to acujunting e5.rnateS ate recognised in the perioj in which the esbm81e 1$ revlsed where the reVIOn affe<ls onfy that period, or in the peTxI of the revisbjn and ftrtur8 periods vA)are the revision gff9¢Is bolh current and fvture peib)d8. Dott•titsn• and l•gaci•8 Unrestrletsd Unrvdtrlctsd funds Nd• 2023 2022 Donalons and gffts $8,386 33,300
SADAT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEARENDED 31 MARCH 2023 Chtrit•ble activiti•s Grnnt Other costs fundlng 2023 Total 2023 Total 2022 2023 Grants to indiwduals EdUcan 8UPPOrt EID cel8bralion committee 30.386 30,386 24,912 2,336 32.970 32.970 24,912 Grant fiJThJing of athvltl8s {see note 5) Share of governance ¢osts (see note 6) 35,OCIJ 35,000 3.565 5,813 67.970 3,565 71,535 30.725 Grants payablè Grant fundlng 2023 2022 Grants to institutions: Oth 35,000 Support Costs Support GoY•rnanc• costs co¥ts 2023 2022 Ba81s of allo¢atlo Bank charges Exchangè dtfference 45 45 3,520 32 Govemance 5,781 Govemance 3.585 3,565 5.813 An4ysed belween Charitable adivitles 3,565 3,565 5,813
SADAT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tru¥t••• Nof* of the trustees lor any pèr80n8 cnnected wilh them) receNed any rernuneralion benefft8 from the tharity during the year. Employ••s Thg average monthty number ofemployees during the year w8S: 2023 Number 2022 Number Total The were no emFAoy888 whJs8 annual remuneralton was more than £60,CiIO. Taxatlon The charity is exempt from tax on in¢me and gains falling within section 505 of the Taxes Ad 1988 or sedion 252 of the Taxationof Chargeable Gains Act 1992 lo Ihg extent that these are applied lo tts tharrtabk obie¢Xs. 10 Related party transactlon$ There were no dischJsaJl8 related paty transactions dumg the year {2022- none). -10-