REGISTERED COMPANY NUMBER: 06471324 (England and Wales)
REGISTERED CHARITY NUMBER: 1125851
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
(A COMPANY LIMITED BY GUARANTEE)

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024
Page
Reference and Admlnlslratlve Detalls
Report of Ihe Trustees
Slalement of Trustees, Responslbllltles
Report of the Independent Audllors
statement of Flnanclal Actlvllles
10
Balance Sheet
Cash Flow Stalemenl
Notes to the Cash Flow Slotement
Notes to the Flnonclal Statemenls
14 to 23
Detailed Statement of Flnancial Aclivllles
24 to 25

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
REFERENCE AND ADMINISTRATIVE DETAILS
For The Year Ended 31 December 2024
TRUSTEES
Mr F S Murad
Prof K Ahmad Iresigned 28.6.241
Dr S M Ahmad
Dr M Ahsan
Dr M Ruby
Mr M T Abdulloh
DrMMAIIy
REGISTERED OFFICE
Ratby Lane
Marklield
Leicester
Leicestershire
LE67 9SY
REGISTERED COMPANY NUMBER
06471324 IEngland and Wales)
REGISTERED CHARITY NUMBER
1125851
AUDITORS
TC Group
31 High View Close
Hamilton Ollice Park
Leicester
Leicestershire
LE4 9LJ
BANKERS
Barclays Bank UK PIC
Leicester Town Hall Square
Leicester
LE87 2BB
Poge I

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2024
The trustees who are also directors of the chority for the purposes of the Companies Act 2006, presenl their report with
the financial statements of the charity for the year ended 31 December 2024. The Iruslees have adopted the provisions
of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordonce wilh the Financial Reporling Standard applicable in the UK ond Republic ol Ireland IFRS 1021
leffeclive l January 20191.
OBJECTIVES AND ACTIVITIES
Objectives and alms
The Morkfield Institute of Higher Educotion IMIHEI was established in September 2000, with Ihe objective of conducting
research, providing professional development COUt5es. and validated higher educational programmes in Islamic
subject5.
Like other higher education instilulions, the Institute hos been regulated by the Office for Students IOfSI since registering
with it in March 2019.11 is also accredited by the British Accreditation Council IBACI. It holds o UKVI Student Route (with a
track record) ond Skilled Worker Sponsorslalus lo recruit sludents and stall from overseas.
Signillcanl activlties
The Institute offers undergraduate and postgraduate programmes, volidated by Newman University, in Islamic Studies.
Islomic Education, Islamic Banking and Finance, Islam and Sustainable Development. and Islam and Pastoral
Care/Chaplaincy. Ils key aclivties include teaching and learning. research and scholady activities, and community
engagement. These activities aim to equip students with knowledge and academic skills Ihat enable them to become
specioliits, pursue professional careers, and become responsible citizens who can make valuable social and economic
contributions to society. During the 2023-24 acodemic year, 60 students graduated from the Institule from its different
courses. In addition. the Inslilule delivered some short executive programmes and reseorch seminars.
Publlc beneflt
The Institute, through its governing body. the Board of Directors. is aware of its responsibilities as a chority lo act for the
public benefit across all of its activities and has had due regard to the latesl version of the Charity Commission's public
benefit guidance. The Institute endeavours to advonce education and knowledge in Islamic disciplines through learning
ond teaching. scholarship ond research for the benefit of individuals and society. 11 contributes to the development of
professionals and scholars who have a broader, deeper and critical understonding ol Islom in the conlemporary world.
Such scholars would be better equipped to promote understanding and social cohesion amongst the diverse
communilies in sociely. ond analyse theological, social. economic ond educational problems faced by contemporary
societies and offer creative solutions to addiess these.
To develop competent graduales, the Institule combines the richness and high standards of Iraditional and
contemporary Islamic %cholar5hip with contemporary cutting-edge research methods, academic rigour and critical
analysis. We strive lo ensure thot our graduates leave with mastery ol a discipline, critical thinking, conceplual reosoning
and anolytical skills, as well as advanced wrilfen and verbal communication skills, ond a personal commitment lo ethical
and professional principles and standards.
We are committed to being on open higher education institution that proactively seeks out people capable of
benefiting from higher education, minimises barriers to their participation and contributes to the expansion of higher
education opporlunities, nationally and intemationally. The Instilute proiided a limited number ol scholarships and
bursaries to help those sludenls with a Irack record of outstanding academic performonce and o strong sense of
purpose, or to help those students who might not be able to enter into higher education without such financial support.
Page 2

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2024
STRATEGIC REPORT
Achlevement and performance
Engagement with staff
staff engagement, conlribution and development ore valued and seen as important in the delivery of our stralegy. We
are committed lo professional values and endeavour to creale an inclusive culture where oll staff can contribule to the
development of the Institute and are supported in their work. All staff are engaged in regular consultations related to
strategy and operational matters. Through a range of committees and communication methods. staff provide input into
shaping the priorities ond direction of Ihe Institute. Relevont staff developmenl and training are encouraged to ensure
effective performance, teaching and academic operotions quality, and the maintenance of academic and
administrative slandords. Slaff development opportunities are provided through several in-house staff troining sessions
during the year and support staff in taking developmenl and training courses with exlernal bodies. Academic staff are
allocoted time in their workload models to engoge in scholor1y and research activities.staff are allocated time in their
workload models to enguge in scholady and reseorch activities.
Engagement wlth sludenls
Our students are a valued part of our community, and we are committed to ensuring they have the best leaming
experience possible while studying with us. Studenls are supported in their academic work through several methods and
provided access to variou5 serrfices, including welfare services, to assist them in their everyday issues while studying at the
Institute. Their feedback at the module. course and institution-wide levels is captured through various methods, which
facilitate ongoing enhancements and changes. The Students, Council coordinates and represents the students. voice at
the Acodemic Board.
Flnancial revlew
Flnancial posltlon
This financial year the organisation has recorded an 'in year, surplus in unreslricted funds ol £lCX),35712023 £71,863
delicitl and a surplus in restricted funds of £89,600 12023 - £12,000). This improvement over the last year is due to
corrective action by the Trustee Board regarding credit control management and Ihe addition of new funding streams.
During the year a provision of £365,734 was made in respect of courses paid in advance12023- £296,000).
Reserves policy
The charily hod unrestricted reserves of £121,603 and restricted reserves of £253,805 as al 31 December 2024. The charily
does not hold any free reserves. The charity's reserves policy aims to accumulate free reserves equivolent to Ihree
months of running costs over the next five years. The Itustees have Iwo purposes for Ihe accumulation of operating
reserves..
l. To finance the developmenl of new or existing services.
2. To enable the organisation to be wound up if necessary.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is controlled by its governing document, a deed of trust, and constilules a limited company. limited by
guarantee, as defined by the Companies Act 2006. The charity wos established under a Memorandum of Associalion
and is governed in accordance with the object and powers set out in its governing documents, the Articles of
Association and By-laws. The Board ol Trustees is responsible for approving Ihe strategy. budget, audited accounts.
annual reports, academic plans, ocademic and operational quolity ond slondards, compliance to the Prevent Duty and
with the Ofs's ongoing condilions ol registration, and any other relevont regulotory responsibililies. The Board meets three
times yeady to consider the charity's performance and respond to emerging issues and risks
Recrultment and appointmenl of new trustees
The Board of Truslees is responsible for recruiting new trustees. In seeking new Irustees, the Institute identifies experienced
individuals in the educalion, legal, charity. or religious education sectors and people with o tested business
management or publicjcommunity services track record.
Poge 3

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational slruclure
The Board approves the appointment of the Academic Board, Finance and HR Committee, and the Managemenl
Board to manage the affairs of the Chority. The Board meets three times a year to consider the charity's performance
and respond to emerging issues and risks. The Rector is accountable to the Board and is responsible for implementing Ihe
decisions of the Boord of Trustees.
Induction ond training of new trustees
TTuslees are introduced to their roles upon oppointment, updaled on the Inslilute's historical developmenls and current
posithon, ond introduced to the resources available on the Chority Commission's websife so that they can lamiliarise
themselves with their dulles and responsibilities.
Key management remuneratlon
The Board of Trustees is responsible lor setting the Rectorfs remuneralion package, which 15 reviewed annually.
Inlernal conlrols
The Institute has developed a sound internal conlrol system thal is appropriate to its size and operations and in
accordance with besl practice. This system is designed to identify the principol risks that may prevent or inhibil the
achievement of the Institute's aims and objectives, evaluate the nature and extent of those risks, and manage them
efficiently, effectively, and economically. The frustees ensure the mointenance of this inlernal conlrol system and keep it
under review to ensure the ongoing effectiveness of these arrangements.
The key intemal control arrangements to ensure compli(Jnce and risks ore idenlified and managed approprialely include
the Management Board, Finance and HR Conimittee, and Academic Board - in addition to Ihe Board of Trustees. The
Board of Trustees approves the appointment of these boards/committees. In addition, truslees are formal members of
Ihese key committeeslboards that oversee the inslitute's managemenl. quality, ond operations. The Rector is
accountable to the Board and responsible lor implementing its decisions. These arrangements help oversee all
academic operations, risks, and compliance matters. They ensure the prevention and detection of risks and any
comJption, fraud, bribery. ond olher irregularities. The Trustees receive reports from the meetings of all these
committeeslboards.
Risk management
The Trustees receive reports to assist Ihem in identifying and reviewing the risks to which the charity is exposed and ensure
appropriale controls are in place to provide reasonable assurance againsl froud and error. The Trustees regularly review
the following principal risk areas..
Legal and linoncial risks
Regulatory compliance risks
Reputation risks
IT security and infraslructure risks
Building mointenance.. risks related to building-specilic heolth and safety risks and longer-tem buildinglestate
development plans.
The Student Protect Plan highlights the Institute's principal risks regarding students and miligotion measures.
The Institute's principal asset is amounts receivable from student5. The amounts pregented in Ihe balance sheet are net of
allowance for doubtful receivables. An allowonce for impoirment is made where an event, based on previou5
experience, is evidence of o reduction in the recoverability of cash flows. The Institute hos no significant concentration of
credit risk. with exposure spreod over a large number of carefully selected students.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So lar as the Iruslees are aware, there is no relevant information las defined by Section 418 of the Companies Act 20061
ol which the charitable company's auditors ore unaware. and each Irustee has taken all the steps thot they ought to
have taken as u trustee in order to make them aware of any audit information and to establish that the charilable
company's auditors are aware of that information.
Page 4

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2024
AUDITORS
The auditors. TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of Ihe Irustees, incorporating a strategic report, approved by order of Ihe board of Irustees. os the company
directors. on .....2l .ffl.ti.Y....%.Q.L5
. and signed on the board's behalf by..
Mr F S Murad- Trustee
rJc'.
21J¢ I
Dr Z Parvez- Accountab
e Officer
Poge 5

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
For The Yeor Ended 31 December 2024
The trustees (who are also the directors of The Markfield Institute ol Higher Education for the purposes of company lawl
are responsible for preparing the Report ol the Truslees and the financial statements in accordance with applicable law
and United Kingdom Accounling Slandards (Uniled Kingdom Generally Accepted Accounting Practicel including
Financial Reporting Standard 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company low requires Ihe trustees lo prepare financial stalernents for each financial year which give a true and fair
view of the state of affoirs of the charitable compony and of the incoming resources and application of resources,
including the income and expenditure. of the charitoble company lor thot period. In preparing those financial
statements. the trustees are required to
select suitable accounting policies ond Ihen apply them consistenlly,.
observe the methods and principles in Ihe Charity SORP;
moke judgements and estimates that are reosonable ond prudent,.
state whether applicable occounting standards have been followed, subject lo any material departure5 disclosed
and explained in the financial stotements..
prepare the financial statements on Ihe going concem basis unless it is inappropriate to presume thal the charitable
compar)y will continue in busine5S.
The trustees are responsible forkeeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the finoncial slotements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and
hence for taking reasonable Steps for the prevention and delection of fraud and other irregularities.
Poge 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
Oplnlon
We have audited the financial statements of The Markfield Instilute of Higher Education (the 'chaNlable company'l for
the yeor ended 31 December 2024 which comprise the Statement of Finoncial Aclivities, the Balance Sheel, the Cash
Flow Statement and notes to Ihe financial statements. including a summary of significant accounling policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounling Slandards (United Kingdom Generally Accepted Accounting Practice). including Financial Reporting
Slandard 102'The Financial Reporting Standord applicable in the UK and Republic ol Ireland,,
In our opinion the financial statemenls..
give a Irue and fair view of the state of the charitoble compony's affairs os at 31 December 2024 ond of its incoming
resources ond application of resources. including its income and expendilure, for the year then ended:
hove been properfy prepared in occordonce wth United Kingdom Generally Accepled Accounting Praclice,
including Financial Reporting Slandord 102 'The Financial Reporting Slandard applicable in the UK and Republic of
Irelond.; ond
have been prepared in accordance with the requirements of Ihe Companies Act 2(X)6
comply with the requirements ol the Office for Students Accounts Direction.
Basls for oplnlon
We conducled our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of Ihe financial
statements section of our report. We ore independent of Ihe charitable company in accordance with the ethical
requirements that are relevant to our audit of the financial stutements in the UK, including the FRC'S Ethical Standard.
and we hove fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtoined is sufficient and appropriote to provide a basis for our opinion.
Concluslons relatlng to golng concern
In ouditing the financial statements, we have concluded that the trustees, use of Ihe going concern basis of accounting
in the preparation of the financial statements is appropriate.
8ased on the work we have perfomed. we have not identified any material uncertainties relating to events or conditions
that, individually or colleclively, moy cast significant doubt on the charitable company's abilify to conlinue as o going
concern for a period ol al leost Iwelve monlhs from when the finonciol statements are authorised for iSSLJe.
Our responsibiSities and the responsibilities of the trustees wth respect to going concern are described in the relevant
sections of this repotl.
other Information
The trustees are responsible for the other informotion. The olher information comprises the infotmation included in the
Annual Report, other Ihan the financial statements and our Report of the Independenl Audilors thereon.
Our opinion on the financial statemenls does not cover the other information and, except to the extent othewise
explicitb/ slated in our report. we do not express any lo￿￿ of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the olher infonration and. in doing
so. consider whether the other information is moterially inconsistent with the financial stotements or our knowledge
obtained in the audit or otherwise appears to be malerially misstaled. If we idenlify such material inconsistencies or
apparent material misstatements, we ore required to determine whether this gives rise to a material misslatement in Ihe
financial statements themselves. If, based on the work we have performed, we conclude Ihol there is o material
misstatement of Ihis other information. we are required to report that fact. We have nolhing to report in this regard.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
Oplnlons on other matters prescrlbed by the Companle$ Act 2006
In ouropinion, bosed on the work undertaken in the course of the audit:
the inforrnalion given in the Report of the Trustees for the financial year lor which Ihe finoncial statements are
prepared is consistent wilh the ffnancial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred lo report by exceptlon
In the light of Ihe knowledge and understanding of the charitable company and its environment obtoined in the course
of the audit. we have not identified material misstotements in the Report ol the Trustees.
We hove nothing to report in respect of the following matters where the Companies Act 2006 requires us to report lo you
if. in our opinion-
adequote accounting records have not been kept or retums adequate for our oudit have nol been received from
branches not visited by us.. or
the financial stotemenls are not in agreement with Ihe accounting records and returns.. or
certain disclosures of Irustees. remunerotion specified by low are not made,. or
we have not received all Ihe information and explanations we require for our audit.
Responsibilltles ol trustees
As explained more fully in the Stotement of Trustees, Responsibilities. the trustees (who are also the directors of the
charitable company for the purposes of company lowl are responsible for the preparation of the linoncial statements
and for being satisfied thal they give a true and fair view, and for such internal control as the trustees delermine is
necessary to enable the preparation of financial statements Ihat are free from materiol misstatement, whelher due to
fraud or error.
In preparing the financial statements, the Iruslees are responsible for assessing the charitable company's ability to
continue as a going concem, disclosing. as applicable, matters related to going concem and using the going concem
basig of accounting unless the Irustees either intend to liquidale the charitable company or to cease operations, or have
no reolistic altemalive but to do so.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
Our responslbllllles for the audlt of the flnancial stalemenls
Our objectives are lo obtain reasonable ossurance about whether the financial statements as a whole are free from
material misstatement, whether due to froud or error, and to issue a Reporl of the Independent Auditors that includes our
opinion. Reasonable assurance is a high level ol assurance. but is not a guarantee that on audit conducted in
accordance with ISAS IUKI will always delect a material misstatement when it exisls. Misstatements can arise from fraud
or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence
Ihe economic decisions of users token on the basis ol these financial slolements.
The extent to which our procedures are capable of detecfing irregularities, including fraud is detailed below:
We obtained on understanding of the legal and regulatory frameworks that ore applicable to the charitable company
and determined that the most significant frameworks which are directly relevant to specific assertions in the financial
statements ore those that relote to the reporling framework (UK GAAP and the Companies Acl 2(L161 and Ihe relevant
lax compliance regulations in the UK.
We understood how the charilable company is complying wilh those frameworks by making enquiries of management
and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board
minutes ond discussions wilh Ihose charged with governance.
We assess the susceptibility of the chorilable company's financial statemenls to materiol misslatement, including how
fraud might occur, by discussion with management from vorious parts of the business to understand where they
considered there was a susceptibility to fraud. We considered Ihe procedures and controls that Ihe charitable company
has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced
risk factors such os perfomance targets.
Based on our understanding, we designed our oudit procedures to identify any non-compliance wth laws and
regulations identified in the poragraphs above.
We also perfomed audit work over the risk of management override of controls, including testing of journal entrie5 and
other adjustments for appropriateness, evaluating the business rationale of significant transactions outside Ihe normal
course of business and reviewing accounling estimates for bia5.
A further description of our responsibilities for the audit of the financial stalements is located on Ihe Thnancial Reporting
Council's website al www.frc.org.uk/auditorsresponsibililies. This description forms port of our Reporl of the Independent
Audilors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we mighl state to the choritable company s
members those malters we are required to slate to them in an auditors, report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than Ihe charitable company and
the charitable company's members as a body, for our audit work, forthis report. or for the opinions we have formed.
Dilun Mistry FCA Isenior Statutory Auditor)
for and on behalf of TC Group
31 High View Close
Homilton Office Pork
Leicester
Leiceslershire
LE4 gLJ
Date: ......27 May. 202.5,..
Page 9

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 31 December 2024
2024
Total
funds
2023
Total
funds
Unrestricled
fund
Restricted
fund
Notes
INCOME AND ENDOWMENTS FROM
Donalions and legacies
55,155
i (x),(x)o
155,155
67.804
Charltable activitles
Course lees
714,858
714,858
526,575
Olher trading aclivities
Investmenl income
11,615
14,698
11,615
14,698
6,133
9,771
Total
796,326
i 00,(x)o
896,326
610,283
EXPENDITURE ON
Charilable Activities
439,400
10,400
449.800
448.609
Charltable actlvllies
Premises costs
Administration costs
Governance costs
73,417
170,552
12,600
73.417
170,552
12,600
75,871
135,166
10,500
Total
695,969
10,400
706,369
670,146
NET INCOME/{EXPENDITURE)
100.357
89.600
189,957
159,8631
RECONCILIATION OF FUNDS
Total funds brought loward
21,246
164,205
185,451
245,314
TOTAL FUNDS CARRIED FORWARD
121,603
253,805
375,408
185,451
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing aclivilies.
The notes form parl of these financial statements
Page 10

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION (REGISTERED NUMBER: 06471324)
BALANCE SHEET
31 December2024
2024
2023
Noles
FIXED ASSETS
Tangible assels
Investment property
3.808
250,000
1,448
250,000
253,808
251,448
CURRENT ASSETS
Debtors
Cash at bank and in hand
15
546,202
141,054
302,770
109,062
687,256
411.832
CREDITORS
Amounts falling due within one year
1565,6561
1477,8291
NET CURRENT ASSETS
121,600
65,9971
TOTAL ASSETS LESS CURRENT LIABILITIES
375,408
185,451
NET ASSETS/{LIABILITIES)
375,408
185,451
FUNDS
Unrestricted funds
Reslricted funds
121,603
253,805
21,246
164,205
TOTAL FUNDS
375,408
185,451
The financial slalements were approved by the Board of Trustees and authorised for issue on
and were signed on ils behalf by..
ZI 2L)'L
•zIA
Mr F S Murad- Trustee
Dr 2 Parvez- Account
e Officer
The notes form part of these linanciol statemenls
Poge 11

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
CASH FLOW STATEMENT
For The Year Ended 31 December 2024
2024
2023
Notes
Cosh flows from operating actlvities
Cash generated from operations
35,514
54,4491
Net cosh provided byllused inl operating activities
35,514
54,4491
Cush flows from invesllng activltles
Purchase of tongible fixed assets
3,5221
Net C05h used in invesling activities
Change in cash and cash equlvalents In the
rèportlng peylod
Cash and cash equlvalents atlhe beglnnlng
of the reportlng perlod
31,992
155,2541
109,062
164.316
Cash and cash equlvalents al the end of the
reportlng perlod
141,054
109,062
The notes form part of these financial stalemenls
Page 12

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE CASH FLOW STATEMENT
For The Year Ended 31 December 2024
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Net Income/lexpendilure) for the reportlng perlod (as per the Statement of
Financlal Activltles)
Adjvstments for.
Depreciation charges
Increase in debtors
Increase in creditors
189.957
159,8631
1.162
1243,4321
87.827
459
175,4551
80,410
Net cash provided by/{used In) operatlons
35.514
54.4491
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.24
Cash flow
Al 31.12.24
Nel cash
Cash at bank and in hand
109.062
31,992
141,054
109,062
31,992
141.054
Total
109,062
31,992
141,054
The noteg form port of these financial statements
Page 13

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024
ACCOUNTING POLICIES
Bosls of preparlng the flnanclal stalements
The financial slatemenls of the choritoble company, which is a public benefit entity under FRS 102. hove been
prepared in accordance wilh the Charities SORP IFRS 1021 'Accounting and Reporling by Charities- Slatement of
Recommended Practice applicable to charities preparing their accounls in accordance with Ihe Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 lelfective l January 20191,, Financial
Reporting Standard 102 'The Finuncial Reporting Standard applicable in the UK and Republic of Irelond. and the
Companies Act 2006. The financial statements have been prepared under Ihe historicol cost convention.
Going concern
As at the point of authorising the occounts, and for Ihe foreseeable future, the trustees consider the going
concern assumption to still be appropriote. The trustees acknowledge thot given the curTenlly ropidly chonging
business and social environment, there are likely to be significant unknown factors which may present
themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to
the going concern assumption albeit not quantifiable at Ihis lime.
In addition to the above, Ihe trustees have considered the amounts due to The Islamic Foundation totalling
£106,238 12023 - £83,8211. The Islamic Foundation is a registered charity with Irustees in common with The
Markfield Institute of Higher Education. The Islamic Foundation has pledged support for the foreseeable future,
therefore. the accounts have been prepared on a going concem basis.
Income
All income is recognised in the Statement of Financial Activities once the charily has entitlement to the funds, it is
probable Ihat Ihe income will be received and Ihe amount can be measured reliably.
Donotlons and legacles
Donations are recognised when the charity has been nolilied in writing of bolh the amount and setllement date.
In the event that a donation is subject to conditions Ihat require a level of perfonnance by the charity before the
charity is enlilled to the funds, the income is defe￿ed and not recognised until eilher Ihose conditions are fully
met, or the fullilmenl ol those conditions is wholly within the control of the charity and it is probable that these
conditions will be fulfilled in Ihe reporting period.
Legacy gifts are recognised on a case by case basis following the grant ol probale when the
administralorlexecvtor for the eslate has communicated in writing both Ihe amount and settlement date. In the
evenl Ihat the gift is in the form of an asset olher than cash or a financial osset traded on a recognised stock
exchange. recognition is subjecl to the value of the gift being reliably measurable wlh a degree of reasonable
accuracy and the title to Ihe assel having been Iranslerred to the charity.
Donated assets are Ireoled as income and capitalised at markel value at the date of the tronsfer.
Expendllure
Liabilities are recognised as expenditure as soon as there is o legal or conslructive obligotion committing the
chority to that expendilure, it is probable that a transfer of economic benefits will be required in seltlemenl ond
the amount of the obligation con be measured reliably. Expenditure is accounted for on on occruals basis and
has been classified under headings that aggregate all cost related lo Ihe calegory. Where cosls cannot be
direclly attributed to particulor headings they have been allocaled to activities on a basis consistent with Ihe use
ol resources.
Charltable activities
Charitoble expenditure comprises Ihose costs incurred by the charity in the delivery of its aclivities and services
for its beneficiaries. It includes bolh costs that can be allocated directly to such octivilies and those costs of an
indirect nature necessary to support them.
Page 14
continued...

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024
ACCOUNTING POLICIES - conllnued
Charltable actlvllles
Support costs
Support costs include central functions and have been allocated lo actimty cost calegories on a basis consistent
with the use of resources. for example. allocating property costs by floor areas, or per capita, staff costs by the
time spent and the other costs by their usage.
GoveTnonce cosls
These include the costs allributable to the chority's compliance with constitutional ond statutory requirements,
including audit. strategic management and trustees's meetings and reimbursed expenses.
Tanglble fixed assets
Depreciation is provided at the following annual rales in order to write off each asset over ils estimated useful life.
20go on cost
20% on cost
Fixtures and fittings
Computer equipment
Investment property
Investment property is shown at most recent valuation. Any oggregale surplus or deficil arising from changes in
fair value is recognised in the Statement ol Financial Activities.
Taxotlon
The charity is exempt from corporation tax on its charitable activities.
Fund accounllng
Unrestricted funds can be used in accordance with the charitable objeclives at the discrelion of the Irustees.
Reslricted funds can only be used for particular reslricled purposes within the objects of the charity. Reslriclions
arise when specified by the donor orwhen funds are raised for particular restricled purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial slatements.
Penslon costs and other post-reliremènt benefits
The charitable company operales a defined conlribution pension scheme. Contributions payable to the
charitable company's pension scheme are charged to Ihe Statement of Financial Actimlies in the period to
which they relate.
Debtors
Debtor balances are recognised when amounts due lo the charity remain unpaid. Debtor balances are regularly
reviewed and where there is reasonable doubt that o debt will be received in fLsII an appropriote proiqsion is
made against that balance.
Creditors
Creditor balances are recognised when the chorily incurs a liabilily. Provisions are made when the charity is
expected lo incur a liabilily vrfth respect to events or conditions occurring prior to the year end. Creditor
balances and provisions are reviewed regulody to ensure thal they are fairfy stated or have been cleared
cO￿ectlY.
Poge 15
continued...

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024
DONATIONS AND LEGACIES
2024
2023
Sponsorship and scholarships
Donalions
45.000
110.155
45,000
22,804
155,155
67.804
OTHER TRADING ACTIVITIES
2024
2023
other income
11.615
6.133
INVESTMENT INCOME
2024
2023
Rents received
14,698
9,771
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Course fees
Course fees
714.858
526,575
CHARITABLE ACTIVITIES
Olher tradlng actlvltles
2024
2023
staff costs
Sludent recruitment and referral
UK border control fees
Scholarships
Bad debts
433,884
50
661
10,400
4,805
434,744
200
8(10
3,000
9,865
449,800
448,609
Page 16
continued...

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024
CHARITABLE ACTIVITIES COSTS
Support
costs Isee
note 81
Direct
Costs
Totals
Premises costs
Administration costs
Govemance costs
73,417
167,530
73,417
170,552
12,600
3,022
12,600
240,947
15.622
256.569
SUPPORT COSTS
Governance
costs
Administralion costs
Governonce costs
3,022
12,600
15,622
NET INCOMEI(EXPENDITURE)
Nel incomellexpendilurel is stated after chargingllcreditingl:
2024
2023
Auditors, remuneralion
Depreciation- owned assels
12,600
1.162
10,500
459
10.
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefils lor the year ended 31 December 2024 nor for the year
ended 31 December 2023.
Trustees, expenses
There were no Irustees, expenses paid for Ihe year ended 31 December2024 nor for the ye(Jr ended
31 December 2023.
Poge 17
continued,.,

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024
STAFF COSTS
2024
2023
Wages and salaries
Social security cosls
Other pension costs
393,718
28,139
12,027
390.769
31.421
12,554
433,884
434,744
The averoge monthly numberof employees during Ihe yeor was as follows:
2024
2023
13
Academic and administration
No employees received emoluments in excess of £60,0￿.
The total remuneralion package received in the year by the head of provider was:
2024
2023
Gross salary
Pension
Benefits in kind
50,(K)O
2,188
46,667
2,021
52,188
48,688
The head of providerfs bosic salary is 1.912023 - 1.71 times the median pay of staff, where the median pay is
calculated on a lull time equivalent bosis for the salaries paid by the provider to its staff.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
12.
Unrestricted
fund
Restricted
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
55,804
12.000
67,804
Charitable actlvllles
Course fees
526,575
526,575
other trading activities
Investment income
6,133
9,771
6,133
9,771
Total
598.283
12.000
610.283
EXPENDITURE ON
Charitoble Activities
448,609
448,609
Charltable actlvltles
Premises costs
75.871
75.871
Poge 18
conlinued.,.

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Ended 31 December 2024
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - contlnued
Unrestricted
fund
Restricted
fund
Total
funds
Administration costs
Governance costs
135.166
10,500
135,166
10.500
Total
670,146
670,146
NET INCOME/(EXPENDITURE)
171 ,8631
12.000
159,8631
RECONCILIATION OF FUNDS
Total funds brought forward
93,109
152,205
245,314
TOTAL FUNDS CARRIED FORWARD
21.246
164.205
185,451
13.
TANGIBLE FIXED ASSETS
Fixture5
and
liltings
Computer
equipment
Totals
COST
At l Jonuary 2024
Additions
8,994
295
19,104
3,227
28,098
3,522
At 31 December 2024
9,289
22,331
31,620
DEPRECIATION
Al l January 2024
Charge for year
8,567
202
18,083
960
26,650
1,162
At 31 December 2024
8,769
19,043
27.812
NET BOOK VALUE
At 31 December 2024
520
3.288
3,808
Al 31 December 2023
427
1,021
1.448
Page 19
continued...

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Ended 31 December 2024
14.
INVESTMENT PROPERTY
FAIR VALUE
At l January 2024
and 31 December 2024
250,000
NET BOOK VALUE
At 31 December 2024
250,000
At 31 December 2023
250,0(X)
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
other debtors
Prepayments and accrued income
356,357
45,741
144,104
230,153
45,741
26,876
546,202
302,770
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade credito
Social securily and other taxes
Islamic Foundalion
Pension creditor
Accruals ond deferred income
11.267
7,488
149,158
1,718
396,025
6.691
9,119
126,451
1,710
333,858
565,656
477,829
Included in"Accruals and deferred income" is deferred course fee income of £365,73412023- £296.0001.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows-.
2024
2023
Within one year
Belween one and five years
In more thon five years
12.000
48.000
192,000
12,000
48,000
204,000
252.000
264.000
Page 20
continued...

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 Decembei 2024
18.
ANALYSIS OF NET ASSETS BEfwEEN FUNDS
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
fund
Fixed assets
Investments
Current assets
Current liobilities
3,808
250,000
433,451
565,6561
3,808
250,000
687,256
565.6561
1.448
250.000
411,832
477,8291
253.805
121,603
253,805
375,408
185.451
19.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.24
At 1.1.24
Unrestricted funds
Generol fund
21.246
100,357
121,603
Reslrlcled funds
Restricted
164.205
89,600
253.805
TOTAL FUNDS
185,451
189,957
375,408
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movemenl
in funds
Unreslrlcled funds
General fund
796,326
1695.9691
100,357
Restrlcted funds
Reslricted
i 00,000
110,4001
89,600
TOTAL FUNDS
896,326
706,3691
189.957
Poge 21
continued..

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Ended 31 December 2024
19.
MOVEMENT IN FUNDS - conllnued
Comparatlves for movement In funds
Net
movement
in funds
At
31.12.23
At 1.1.23
Unrestrlcted funds
General fund
93,109
171,8631
21,246
Restricted fvnds
Restricted
152,205
12,000
164,205
TOTAL FUNDS
245,314
59,8631
185,451
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General fund
598,283
1670,1461
171,8631
Restrlcted funds
Restricted
12.000
12.(K)O
TOTAL FUNDS
610,283
670,1461
59,8631
The specific purposes for which the funds are to be applied are os follows:
The restricted funds represent donalions and amounts given to The Inslitute which have been given on Ihe basis
Ihat they will be used for specific purposes such as awards, scholarships and sponsorships and for specific course
development.
Restricted funds include £IOO.000 which has been received in donation during the year for restoration costs
towards the Campus Development Projecl.
Poge 22
conlinued...

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Ended 31 December 2024
20.
RELATED PARTY DISCLOSURES
The Markfield Institute of Higher Educalion IMIHEI hos Truslees in common wth The Islamic Foundation IIFI. During
the year, MIHE paid £36,52312023 - £38,393) to IF in respect of rent ond various other ollice expenses. Al the
balance sheet date MIHE owed IF a net amount of £106,23812023- £83.5311.
The Al-medina Trust- trustees in common
The Al-medina Trusl made donations to MIHE during the year of £45,OCt)12023 - £45,000).
The Modina Trust- I￿Stee$ in common
The Madina Trust mode donolions to MIHE during the year of £nil12023- £12,(K)01.
East London Mosque Trust- trustees in common
MIHE mode purchases from East London Mosque Trust during the year of £1,58412023 £nill relating to rental of
classroom space.
21.
FUTURE DEVELOPMENTS
In Fvlay 2025 the charily received a donation in the form of a properly situated in London. This was received from
another charity which is closing down. The donated properly is valued ot approximalely £1.] million and is under
lecjse until 2036, generoting circa £75k in rental income each year.
Page 23

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
DEfAILED STATEMENT OF FINANCIAL ACTIVITIES
For The Yeor Ended 31 December 2024
2024
2023
INCOME AND ENDOWMENTS
Donations and legacles
Sponsorship and scholarships
Donolions
45,000
110,155
45,000
22,804
155,155
67,804
Other tradlng actlvltles
other income
11.615
6,133
Inveslment Income
Rents received
14,698
9.771
Charltable actlvllles
Course fees
714,858
526,575
Total Incomlng resources
896,326
610.283
EXPENDITURE
Other Iradlng actlvllles
Wages and solaries
Social security costs
staff pensions
Sludent recruitment and referral
UK border conlrol fee5
Scholarships
Bad debts
393,718
28,139
12,027
50
661
10,400
4.805
390,769
31.421
12,554
200
800
3,000
9,865
449,800
448.609
Charllable activlties
Rates ond water
Insurance
Light and heat
Telephone
Postage and stationery
Adverlising
Rent and room hire
Repairs and maintenance
Travelling
Accommodation and subsistence
Evenls and ceremonies
Carried foward
9,100
2.163
28,280
1.130
1.982
3,869
13,769
3,402
6.386
5,684
3.415
9,396
2,234
29,725
{1.6821
1.245
3.814
14.485
5,045
4,225
8.272
4.321
I I
79,180
81.080
This page does not fom part ol the statutory financial statements
Page 24

THE MARKFIELD INSTITUTE OF HIGHER
EDUCATION
DEfAILED STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 31 December 2024
2024
2023
Charitable actlvllles
Brought forward
Sundries
Internet and IT expenses
Books and subscriptions
Equipment hire
Cleaning
Bank chorges
Validation and accreditalion fees
Legal and professionol
Fixtures and fittings depreciation
Computer equipment depreciation
79.180
66
52,618
1.821
1.846
12,834
1,654
86,237
3,529
202
960
81.080
46.506
1.584
1.346
1,710
61,789
2,925
143
316
240,947
208,576
Support cosls
Governance costs
Auditors, remuneration
Financial operations management
12,600
3,022
10.500
2.461
15.622
12,961
Total resources expended
706,369
670,146
Net Income/(expendllure)
189,957
59,8631
This page does not form port of the statutory financial stalements
Page 25