REGisfERED COMPANY NUMBER: 0681)fa57 (England and W91¢*) REGISTERED CHAIUTY NUMBER: 1131861 REPORT OF THE TRusfEES AND FINANCIAL 8TATEMEwr8 'UK'I'HE YLAK LIYDLD 31 JANUAKY 21124 FOR TIIE EMAAN TRusr or SiiE4 rriELD (A LUMPAiYY LIMI'I'ED IIY fyUAKAN"I'Lk}
THE EMAAN TRusf OF SHEFFIELD coNTEs OF THE FINANC14L STA"I"EMEIYTS FOR THE YEAR ENDED 31 JANUARY 2024 Page Reyurt of the Truslff5 R¢port ofthc llldcpclldcnÉ Auditors St*temellt of FinanciAI Artivilies Balance Sheet Cash Flow Slatement iu Notes to th¢ Fittancial Stat¢mc#ts 12 to 18
THE EMAAN TRI1 OF SHEFFIELD REPORT OF THE TRUSTEES FOR THE YEARENDED 31 JANUARY 2024 The tnistees who are also direetors of the charity for the pur[ of the Companies Ad 2006. present their rert with the financial statements of the charity for the year end 31 January 2024. Th¢ trUs1S have adopted the provisions of A¢¢owiting alld Reporting by Charities.. StateEn¢nt of Reended Practice applicable to charities preparing their ounts in accotthnce with the Financial RertIng Standard applic4th1e in the UK td R¢public of ]land (FRS 102) (effective l January 2019). OWECTIVES AND AcfiviTIES Objectives and aims The Charity's objective and its prin¢iFal activity continues to be the establishment of a centre for ¢omniuDity sÈrYi¢es to fulfil the religious needs of the Muslim cornmuniry and provide services to the wider communities in Sheffield and th¢ SUTrounding areas. These services include: - To relieve )Vety by the provision of advic4 fllwlcial and other assistance lo in n¢e4 hardship or distress. - To advanc¢ cducation for thc public b¢ncfit. - To presetve and prOtt g(¥1 health forthe public benefit. - To provide facilities in the interests of social welth for the rttreation and other leisure time pUll1ts of those WIM) are in The r.h2rity r.ontiniies tn explnre ne.w w2ys nf impmvin8 the. cnnditinng nf individiials The. c.harity is organised so that the Trustc¢s m¢¢t rcgularfy to manag¢ its affairs. There ig a fundraising consultant supporting the trustees fundtaising stratsgy. together with the admin staff and volunteers the trusiees manage the adminiStrlon of the chariry io oversee the compilation of the cenTre and organlse fundraising initiatives. New Trustees are only recnEited and trained when a Trnstee leaves histher position or a strategic need arises. Yublic benefit The Charity is a public benefit entity and the Trustees confim) that they have eornplied with the requirements of section 17 uf ClilL15 ALL 2011 lu Imvr dur ir8dtd Lu yublii IKiirfiL ¥UlLIlL publisliril by cli<IlY CvtnJni55iun fur England and Wales. STRATEGIC REPORT Athi•v+ment p+rforni*ne• Charitable activities The Trust had been ¢losed dunn£ the lockdown peri(Ml as per the (iovernment 2uidelines. The had re-opened following lockdown whilst maintsining the social distsncing njles at a reduced capacity, only otTering the bare minimuln of b¢rviws intiludin¥ th¢ Ifuily prdy¢Tr dnd fvr Riundddn. Fundraising 4¢tiviti The C'han"ty raises funds through appeaIs carried out by il's own Trustees and volunteers. Il doe5 not Work with professionai fimdraisers. No complaints have been received by the Charity regardin8 It's fitndraising during the year. The Charity obtains most of it's funding from organisations and individua]s. who have previously contributed to it's funding, and as such does not ne to ¢any out many appeals.Th¢ Tnt. ar¢ Yery careful not to ttsrgct their appeals ot vulnerable people and would noi accepT fidS from such individuals. Pag¢ I
THE EMAAN TRusf OF SHEFFIELD KLPOK'I. OTr"I"HE 'I'RUS'I'LES FOR THE YEAR ENDED 31 JANUARY 2024 S'I'IiA'I"LGIC REPOR"I' FinAnei41 review During the year the Tnjst raised £l.Im (2023: £1.8m} and spent £242k (2023: £1 I Ik) on revenue activities and £l.Im {?0?3:£1.Sm) on th¢ Islamic C¢ntre. Tbe totsl carry forward reserves of the Trust st(th at £8.52m (2023: £7.62m). Reserves policy R¢stri¢t¢d r¢s¢rves stood at £4.gm (2023: £3.82m) and utJrestri¢t¢d trs¢rv¢s at £3.7?rn (2023.. £3.8rn). The Tn].qtees have ¢onsidered the level of reserves and found them to be &lequate for meeting the immediate and future nccds of thc Trt. Going concern Th¢ Trust5 wnsidcr that th¥T¢ tnatrtidl unL¢rtsinlits diM)Ut th¥ LhaTity5 ability to CODtinue as a going con¢ern. STRucfuRE, COVERNANCE AND MANACEMETrtr Governin% document The charity is controlled by its governing theuTnenL a deed of trus¢ gnd constitutes a lirnited company? limited by guardnlcc, by th¥ CuJnpdlli¥S ALI 2000. Em(LOm Trust w founded in 2004 ond wos ttgistered os incorpornted charity with UK Chority commission in 2009. Th¢ ompany is a private limited eompany limited by guarantee ineorprnted on 30 January 2tM)9 and is governe(i by its a"cleS of aggoe.iatton (Articles). In the event the charitable eompany is woiind lip membets ryuired to contribute an gmow)t not ¢K¢¢¢diiig £1. Emaan Tnt seeks to establish an Islamic centre in order to fulfil the religious ne&ls of the surrounding Muslim ¢ommuniTIes and provide seryi¢es TO the wider communiry In Sheffield and surrounding areas. lkncruitm¢nt and appointment of trnste 'I'he new 'linslees are bneted on thew le£al obligations under charity laws and reRulations, the Committee and decision making process, the recent financial perforniance and the futu plans and objectives of the charity. They a]so meet other Trusiccs Jnd ihc ctnployccs. Org#niJatioDal structure The tK)ard of Truslees administer the charity through cornmitt¢es, contrrS and one fidl time employee. The staff the. dAy to A2y npp.rntinnq nf thp r.hArity whiltr. thp rnnfrxrtors gnA the. eonslnic.tion cfjmmittee. oversee the constru¢tÈon of th¢ c¢ntr¢. To facilitatc ¢ffcctiv¢ opcrntions th¢ knard ha nominated TtU5tCf5 and dclc8aknl audioi.ity to oversee operational matteTS Includin Finance, LeRal and donah.on makin liey management remuneradon There is no Management Personnel emplnye(L the Director.8 wh(1 are al the TnL4ls nf the c.harity. m2n2ge the smnnth nmning of thc Charity, and do not r¢¢¢ivc any rcmuncntion Risk mAn%gement Reyutdtiuij iisk Negative PR can damage the Trusls standing and reputslTon with donors. The Trnst Board includes experienced profe&sionals that actively ove1 the wotk of the TntsL The Trust ha% also ¢ngaged l¢gal and finance professionals to manag¢ legal and financ¢ risks. Lack of funds This can delay the construction and completion ot.the Islamic centre. Th¢ Truste¢s have ¢ffective fund raising plans in place to engure fidS sre raised in a timely manner. During the year key Thistees with vatious fvnd rdisers trdvel K) the Middle Easi and liaise with donors ensure funds are raised in a iitnely manner Page 2
THE EMAAN TRUST OF SHEFFIELD REPORT OF THE TRUSTEES FOR THE YEAR E,YDED 31 JANUARY 2024 REFERENCE AND ADMINISTRATIVE DETAIiS Regi$tered CompAny number 06806357 (England and Wales) Regist¢r¢d Chority number 1131861 Registered office Shettield (irand Mosque Grimesthotpe Road Sh¥Ifi¥ld South Yorkshire 84 8DE Trn$tees Mr Hameed Al-Asaly Mr Abdulmalik Alsanabani Mr AbdCrzylIq Bougarn Mr AbdulK¢hman Hu55ein Mr Ali Al Batati Mt Mdtk Bvillai1 Auditors Shareef qtsknitnry AiiAilnrs 4 11ighlands Court Cranmore Avenue Solihull West Mldlands B90 4LE I'I'A'1'LML.ll. UTr'"I"KUS1'LLS' KL5YUIYSIBILI"I'IES The trustees (who are also the directors of The Em2an Trust of Sheffield for the purw)ses of compsny law) are responsible Ivr pP(Will¥ dir R¥purt vf T[usl 4U]d rlu]LIal sMn(S in <wrdance with applicable law and Unitr King(lom Accounting Standards (United Kingdom Generally Acceptrd Accounting Practtce). Company law requires Ihe trustres io prepare financial stakvnents for each fitwicial year which gve a true and fair view of the. qtate. nf Affairs nf the. e.h2ritAhlp. rnmpxny 2nd rbf the inrnming resoiiweg and application of resources. including the inGom¢ and ¢Ap¢nditur¢, of thc charitablc company for that p¢rithl. In pttpatins th0 fina]IGial stat¢iiic1, thc tsustCC5 ai¢ required to s¥1 Suitdblc aLcountin¥ tx)licics avtd thcn apply thevn consistently" observe the methods and principles in the Charity SORP: make judgements And estimgrtC5 thut arc rcasorhablc ond prudcnL slate whether applicable accounling slandaTds have followe¢ sllbjt to any matenai departures disclosed and e.xplaine.d in the financial statementg. Pr¢p.¢ fli1)tal stat¢iii¢nts oil dic goillg C{MilI1 basls wll¢ss it is itfdVPiUVfidLr lu prrbuiiir ¥li¢withI¥ company will continue in business. The tsUeeS are responslble for keeplng proper accounting rordS which disclose with reanable accurdcy at any lime the financial rxisitinn nf the charitahle cnmpany and tn enahle them In ensure thAt the finAnci%l £tAte.me.nls cnmply with the Companic3 AGt 2006. Thcy are a130 r¢3ponsibl¢ for saf¢guarding thc a33cts of thc chatitablc tornpany and IIciiGC foi" takijig re&wnable steps for the prevention and dd¢¢tson of fraud and other irregularities. P4g¢ 3
THE EMAAN TRUST OF SHEFFIELD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 21124 STATEMENf OF TRusfEES' RESPONSIBILrriES- eontinued In go far as the tntstee# are aware.. there is no relevanl audil infonnation of which the charitable (x)mpany's auditors are unawaff" and the trustees have taken all sieps that they ought to have taken to mak¢ themselves aware of any levant swdrt infomiation and to establish that the auditors atr aware of that infonnation. AUDITORS The auditors Shareef. will be prowsed for re-appointment at the forthcoming Annual General Meeting. Rep)rt of the trustee& inCorrating a strategic reporl approva by order of the knard of trustees, as the company directors, on 27 Noember 2024 and signed on the Ix)ard's behalf by Mr Abdu man Hussein- Trnstee Page
REPORT OF THE INDEPENDELYf AtiDITOILS TO THE TRusfELS OF THE EMAAN TRUST OF SHEFFIELD Opinioll We have audited the financtal statements of The Em2an Trust of Sheffield (the 'charitable company) for the year ended 31 January 2024 which comprise the Statement of Financial Activities, the Balance SheeL the Cash Flow Statement and nntes In the financial statements. including a %iimmAry t)f &ignÉfic2nt atetsiinting lif.7e$ The financial rep)rting frgmewo that has been applied in their preparation is applicable law and Unit¢d Kingdom Accounting Sthndards. (United Kingdom Generally Accepled Accounling Prdctic¢}. In our opinion the finan¢ial slatrments: give a true and fair view nf the gtat¢ of the charitable compony's affairs as at 31 January 2024 and of its incoming resources and application of resourccs. including its incomc and expenditure. for the year then ended. have been properly prepared in accordance with Unit1 Kingdom (JenlY Accepted Accountmg Practice. and have been prepared ID accordance with the requirements of the Companies Acl 2006. Basis for opinio Wc conduct¢d our audit in accordtmc¢ with Int¢rnati<)nal Standards on Auditing (UK) (ISA3 (UK)) and appli¢abl¢ law. Our responsibilities under those standards are fiwther described in the Auditors. resrx)nsibilities for the audit ot" the tinancial statements section of our reFOrt. We independent of the charitable eompany in accordan¢¢ with the ethical requirenienls that art relevant lo our audil orth¥ fill1d1 sLd¥tn¢nts" in the UK including the FRCS Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the aiidit CvidCn w¢ hay¢ obtsincd 13 suifici¢nt ld typropriat¢ to providc & b15 for our opinion. Conclusions re19ting to going eoncern Iii dudiLiii¥ fililL1d1 sldLriIiriiLs. wr lidvf LVIILludd LtkL5I. us¢ vf th¥ wnixTn bab'is of accounting in the preparation of ihe financial statements is appropriale. Based on ihe wotk we have performed, we havc noi idemified any materiat uncenainties relating w events or conditions thAt, individiiAlly nr cnllectively. MAY CSt .qignific2nt dt)iiht nn eharFtahlp. eAJmp3ny's ability to continiie ag a goin£ on¢¢Tn for a pcriod of at l¢ast Iw¢lv¢ months from wh¢n th¢ finan¢ial stat¢mcnts arc authoti5tsJ for i55UC. Our responsibilities gnd the responsibilxtles of the trustees with respect to goin8 concern are describ¢d in the relevant seciions of this reFX)fL Otber infornhatio "I"he trustees are responsible lor the oth¢r information. lh¢ other inlomiat]on comprises the infonnation mcluded In th¢ iknniial Rewrt. other than the fanCIal statements and our Re[ of the Independeni Auditors thereon. Our opinion on the financial statements does not cover the other infornlation and except to the extent otherwise explicitly sttstsd in our repor¢ we do not express any forni of &ssurance Cl>ncl1On therwn. In r.nnnp.c.tinn with otir AiiAit nf the. frn2nr.ixl qtAtpmpnts niir res1h11ity ts tn trad the other infoTmation and. in doing so. ¢Oll5id¢r whcthcr the othcr inforniation i5 matGrially inconsi5tcnt with th¢ financial 5tatrm¢nts or our knowl¢dg¢ obtain¢d in the audit or otherwise appears to be matenally misstated. If we Identify such malenai mc4)nsistencies or apparent material misstatements, we are required to demiine whether this gives rise to 8 malerial misstatement in the financial statements Llieiiisrlves. Ir, b415rd uii Llir WUFk wr Iidvf peifuttiird, wr LUIILludr didL IS il [[]iss¥L uf this uth inforniation. we are required to report that fact. We have noihing to rewrt in this regard. Mallers on whieh we are required to repon by exceptio We have nothing to rewrt in respect of the following matters where the Charities (Accounts and Rewrts) Regulations 2008 1¥4uiiri UJ iv Jrwil iu yvu if, ui VLU VPitIiuu. the infotmation given in the RetK>rt of the Trustees is inconsistenl in any mafrrial resrKd with the financial statements: or the chariiable company has kew adequaTr accounting records" or the financid statemcnts are not in agrccment wtth the accounting rc£or(Ls and rer[L$. nr w¢ havc not rccciv¢d all th¢ infornhation and ¢xplanations wc r¢quirc for our audit Pag¢ 5
REPORT OF THE tNDEPENDEwf AIIDrroiLS TO THE TRIISTEES OF
TIII EMAAN TRusf OF SHEFFIELD
Responsibilities of trustees
As explained more fully in the Ststement of TTUStees' ResFx>nsibilities, the thStee5 (who also the directors of the
charrtable company for the purpos of company law) are resw>nsible for the preparation ot.the financia] statements and for
being satisfied that they give A knie and fair view. and for such internal control as the tnastees deterniine is necessary to
¢nabl¢ the preparation of fitlancial statements that f]Ee from material mi55tatun¢ni whcther due to fraud or ¢nr>r.
In preparing the financial statements, the trustees are resPolb1¢ for assth-ing the charitablc company's ability to continuc
as a going concern, disclosing, &5 applicable, matters related to going concern and using the going concern b15 ot
accounting unless the tnjslees either intend to liquidate the charitable company or to Ce operation& or have no realigtic
altern&ive but to do so.
Our r¢sponsibili¢ies for thv audit of the finneI ststemeDts
We have been appoin1 as audiiors under Secllon 144 of the Charities Aa 2011 and reFK)n in accordance with the Act and
relevant regulation.q made or having effect thereunder.
Uur objectives are to obtam reasonable auranCe alKMrt whether the tinancial slatements as a whole are free fiDm mafrrial
misstatemen¢ whether due to fraud or error, and to issue a Rew)rt of the Independent Auditors that includes our opinion.
Reasonable &ssurance is a high lev¢1 of assurdnce. but is not a guardntre Ehat an audit conducted in accordance with ISAS
) will always detect a Tnaterial misstatement when it exists. Misstatementq can aris£ fmm frAEJd nr e.rmr and att
¢on5idered motcrial if. indiyidually or in th¢ twgat¢, th¢y could TOnablY bc cxp¢ct¢d kn influcnc¢ thc ccononiic
decisions of serS taken on the basis of these financ1 statements.
Tlic txlciil Llp wliiLIi VLU pjwrdwrs prfbI¢ vfdrirLliIi¥ it[r¥u1ÉilI, iniludin¥ frdud is detailed below:
Based on our understandins of the Charity and industy, w¢ id¢ntified thot the PTincipal ri3ks of non-eomplian¢¢ with laws
and regul&ions relaied io employment laws and tsxes, and we considered the extent to which non-compliance might have a
mxteriAI e.ffe.rt on the. finanr.iAI qt2te.ments We. also considered those laws and regulations that have a direct Impact on the
pr¢paration of the financial statenients such a5 the Conipanies Act 21)06, FRS 102 wid t]1¢ Cliat15 SORP. W¥ ¢vdIu¢
manaRement's in¢enlives and oprrf)rtunilies lor fraudulent manipulation of the flllancial statements lincluding the risk of
override of controls). and detennined that the principal risk8 were related to w>sting inapproprial¢ joumal entries to achieve
d¥51 fin
REPORT OF THE IIYDEPENDENf AUDITORS TO THE TRusfEES OF THE EMAAN TRusf OF SHEFFIELD Use of our report This report is made solely to the charitabl¢ company's tr¢tee& as a EK)dy, in accordance with Part 4 of the Chariti¢s (Accounts and Reports} Kegulatt'ons 2tK)¥. Our audit work has been undertaken so that we mi&ht state to the charitable company's truslees those matters we are required to state to them in an auditors, Teprt and for no other purp)se. To the fullesl extent permitted by law, we Ik) not accept or a55ume re5Wll5ibÈlity to anyone other than the charilable company ond th¢ charitable company's trust¢¢s as a ix)dy, for our audit WOTk, for this reporL or for the opinions we have fonned. Shareef Statutory Auditors Ellgible to aci as an audltor In i¢mis of son 1212 of the Companles Act 2(KJO 4 Highlands c.ourt Cranmorc Av¢nuc Solihull West Midlan& B90 4LE 27 NoYcmb¢r 2024 Pag¢ 7
THE EMAAN TRUST OF SHEFFIELD STATEMENT OF FINANCIAL AcfivITIES FOR THE YEAR ENDED 31 JANUARY 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Noles INC.nMF. AND F,NIK)WMF.NTS FROM Donations dnd 1¢gl 157W7 984ffj62 1,142,059 .771,377 Investment income 81 Total 984,662 1,142,(166 .771.458 EXPENDITURE ON Raising funits 136995 136,995 83,062 Charitsblt atlivitits Masjid Activities 113J66 113J66 27,906 To1 25llaOI 110,906 NL'I. ILYLVMEI{LXPEIYDI"I'UKL Y2¥57 } YH662 ¥91.7U5 1.660.490 RECONC.ILIATION OF FUNDS Total funds brought forward 3,799ffi35 30555 7ffi20,190 5,959,700 TOTAL FUP4DS CARIUED FORWARD 3.70A678 805817 11,895 7,020,190 Th¥ UULVS. furill Pdtl uru] fiii¢UILidl stslluIi¥Jiis' Vage 11
THE EMAAI¥ TRusf OF SHEFFIELD BALANCE SHEET 31 JANUARY 2024 2024 Total funds 2023 Total funds Unrestricted fund Restrided fund Note5 FIXED ASSETS Tansible aSe li 3,60&488 4,781458 7,219,757 CURRENf ETs C&sh at bank 22.759 128561 413266 CREDITORS Amounts falling due within one year 12 (50912) (5.612) (12,833) NL'I. CUIUIENT ASSETS I,190 22.759 122,949 41)0,4.11 TnTAL ASSEIS LESS cifRRENr LIABILITIES 1706,078 4W5217 s11,895 7,620.190 tYET ASSETS 3,7078 4W115317 511,1195 7.620,190 13 Unrestncted fijnds Restricted funds 3.706.678 4805217 3.799.635 3,820,555 TnT AI.. FtINDS S51195 7,6?0,190 The charitable compgny ig entitled to ¢x¢mption from audit under Section 477 of the Componics Act 2006 for th¢ y¢ar ¥nd¢d 31 Yuary 2024. Thc mcmbcrs hav¢ not d¢positcd noti¢¢, pursuant to Scction 476 of th¢ awnpani¢5 Ait 2006 rquii.iiig ati audil uf dir)r fmancial statements. Tlir Irusl¢¢b knu1¢xl¥y th¢ii 051b11itics for (a) ensuring that the charitable company keeps accounting records that comply with gecti(Jn* IRfi And 187 of the Companies Act ?006 and preparing financial statements which give a mie and fair view of the state of affairs of the chan"t2ble company as at the end of e&eh financia] year and nf itq sijrpliis nr defieit for each financial year in accordance with tbe rcquircmcnts of Sections 394 and 395 and which oth¢nvi5c coniply with tli¢ ic4uiiuiieiits uf L71¢ CuiJ]pill¥S ALt 2UU6 relattng lo tIllanal statement% so tar as applioble to the charitable company. (b) TIics¥ findllLidl 5td¢¢m¢nt5 have been audiied under the requiremenLS of Seaion 145 of ihe Chariiies Act 2011. Th¢ financial statements were approved by the Board of .1"nle¢S and authonsed tor issue on 27 November 2024 and were signed on its be.half by.. Mr AbdulrahmaD Hu&8¢in- Tt¢¢ The noles fonn pan of these financial sMements Page 9
THE EMAAN TRusf OF SHEFFIELD CASH FLOW S-I"A'I'EMEN'f FOR THE YEAR ENDED 31 JANUARY 2024 2024 2023 Notss Cash flojvs fTOm operating acttvities Cash generated Irom operalions 893260 1,633.829 Net cash provided by operating activities 893260 1,633.¥29 Cash flows from investing activities Pur¢h4se of tangible fi.xed assets Inieresi received (1.177972) {1.507,805) 81 N¢t cash us¢d in invcsting activiti¢5 (1,177,905) (1,507,724) r¢porting period Cash alld rash equivalents at the bewnlling of the reporting poriod (2847115) 126,105 413266 *87,161 C.Aqh eA.$h eqiiivAlents a7t the end otthe. reportillg period 128561 413,266 The nnte% fnrni pxrt nf the%e finaneiAI qt2ternent% Page 10
THE EMAAN TRIJST OF SHEFFIELD NOTES TO THE CASH FLOW sfATEMEYr FOR THE YEAR ENDED 31 JLNUARY 2024 RECONCILIATION OF NET INCOME TO NET CASH FU)W FROM OPERATtNG A1VITIEs 2024 2023 Net income for the reporting period (as per the Statement of Financial Adiviti¢g) Adjustments for: Depreciation charges Inlerest re¢eiv¢d Decrease in cteditot 891,705 1,660,490 8,783 (7) (7221) 307 (81) {26,887) et sh provided by operJtiolls 8932lJO 1.633,82Y ANALYSIS OF CHANCES IN NET FUNDS At 1.2.23 Cash flow At31.1.24 Net cash Cash at bank 413266 (284,705) I281 413266 (284.705) 128561 Totsl 413266 (284.705) I21 The noles forni part of these fin3ncial statements Pogcll
THE EMAAN TRusf OF SHEFFIELD NOTES TO THE FINANCIAL STATEMENJS FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTIL¥G POLICIES B#si% of preparing the financial statements The financia] stxtements of ihe charitsble company, which 18 a public benefrt entity under FRS 102. have been pr¢pared in accordance with the ChttrÈtiGs SORP {FRS 102) 'Accounting and Rqx)rttng by Chw"iti¢s. sttI]itl( vr Recommendcd Practice applicable to charities preparing their accounts An accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),, Financial Reporting Stsndard 102 'The Financial Rew)rting sdard applithle in the UK and Republic of Ireland, and the Companies Ad 2(106. The tinancial statements have been prepared under the histori cost convention. Income All ineome is recognised in the Statement of Financia] Activities once the charity has entitl¢m¢nt to the funds, it is pr(pbabl¢ that th¢ incom¢ )vill k trIVed and th¢ Ix wr&suttxl rrlidbly. Donations are recognised wh¢n th¢ charity has been notified in writing of l)oth th¢ omowit and s¢ttIcmcnt date. In the eveni a donation is subject to conditions that require a level of wfom)an¢e by thc charity befor¢ the charity 1.4 entitled tt) the fiindq, the incnme ig de.fr.rreA xnA nnt rprngniged imtil either those Conditions are fully me( or the fulfilment of thos¢ conditi¢)ns is wholly Iwithin the Control of the ¢liarity )d il is ptvbdblv th¢s¥ Lunditions will be tultilled in the rewrtinR periThl. Expenditure Liabilities are recogni5ed &$ expendithre aq s(x)n there is x legAI OT rnnslnictive obligation eommitting the chlty to that cxpcnditurc, it Is probabl¢ that a transfu of ¢CO1MIC tKncfits will bc i"cquiitd ui s¢(ilriiiriil ¢uid dir iuIiuunL of the obligation can be measured reliably. Expendtture is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where cosls cannot be directly attributed to vLu1 lirddiu¥s' th¥y Ii¢tv¥ &lluLUL¥d IL) aViiViiiV5 a ba515 consistrni with the use of resources. Support ¢osts include central functions and have b¢en allo¢ated to (tIvIty c05t cotrg0ri¢3 on a basis consi3tfflt with the use of resources, for example, all(Ing property costs by floor are&s, or p¢r Capit4 staff costs by the time qpent And nther c(Ish hy their lige_ Kaisin% funds Th¢s¢ are Costs incurred in attictit voluntary income. th¢ management of investments and those incurred in ading aaiviries raRse funds Charitable rtiTriti Lharitable expenth.ture compnses those costs incurred by the charity in the delivery of its a¢tivtties and services for its benefjeiarieg. It includes Ix)th costs th2t can be 211ocated dire¢ily to such activities and tho£e eogts of indjrect iiatuie i)Y lo suvvuit djriii. Covernonee eosts These include the COSLS allrIbutable To the charÉry's Compliance with constitutional and statutory requirements. including audit. strntegic management And tni%te£&'s Tnee.tinsFs And reimbiirsed expenses. .1 an%ible [ed assets Depreciation As provided at the following 2tmuaI ratss in ord¢r to write off each asset over its estimated useful Itfe. Fixtures and fittings Comput¢r ¢quipm¢nt 200/0 an reducing l)alance 25% on ¢03t T#xAtion The chw.ity is ¢x¢iiipt fn)iii wiwrntion t&x on its cliatitsble autivitirs. Fund aeeounting Unrestriued funds can be used in accordance with the charitable objethives the discretion of the thistees. Pase 12 GontlllU¢d...
THE EMAAN TRUST OF SHEFFIELD NO'I"LS TU THE FI.NANCL4L STATEMEiYfs- continued FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUIYllNG POLICIES- continued Fund aeeounting Restricted funds can only be used for particular restricted putwses within the objectq of the charity. Restrictions aris¢ wh¢n sp¢rÈfied by the donor or when funds ar¢ rnis¢d for piirtiGular restrict¢d purposcs. Furth¢r explanation of the nalure and purw)se of each fimd is included in the notes to the financial slatements. Foreign currencies Assets and liabilities in for¢ign ¢urr¢n¢ies are translated into sterling at th¢ rates of exch£thge ruling at thc Transaaions in foreign CuenCieS are recorded w the rne of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currenciLs at the balance sbeet date are reFM)rted at the rates of ¢x¢hang¢ pr¢vailing at that datc. The results of oversvas operntlong gre translated 2t the average rateg of exchang¢ during the period and th¢ir balance sheets at the rates ruling at the balance sheet date. Exchange differen¢es arising on translation of the opening net liqetq and requltq c>f nverqe&s (bperknnnl xre rerK)rteA in nther eDmprehensive income and accumulated in ¢quity {attributd to nOnontrolling intcrcsts appropriate). Other exchan8e differences aTe recwisd An the Statement of Fingncial Artivities in the period in which they arise XLrpi fur". l) exoh4mg¢ differences on transactions entered into to hedge eertain fOl8n currcncy risks (see aknve)" 2) exchange differences arising on gains OT losses on non-monetary items which gre reeognised in other Goi11phtlI$IVC iiicoiii¢" ]d 3) in the cage of the consolidat¢d finan¢ial stat¢En¢nts, exchange d&fferences on mon¢tary it¢In5 receivablc from or payable w a for¢igD operarion for which selllemeni is neither plann nor likely to occur (therefoT¢ forniing part of the net investment in the foreign operntion). which are recognised in nther cnmpTehe.nqivp. inrnmp. 2nd rerted und¢r ¢quity. CoiDg c(bDcern Thc Thist5 consid¢r thaT th¢re are no materia] uncenaimies alx)ut the charlrys abiliry to coniinue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. tK)NATIONS AND LEGACIES Th¢ br¢al.dol of total donations is as folknys" Constswction funds of £984,662 {2023 . £1.679.878) rnised for phase 5 and 6. The trust h&8 been able to £124.412 (2023 . £64.222) fmm Ls e(bllettinn. nnline, VrA mac.hin p.tc. Grants 01 £28,985 (2023 '. £2727b) w¢r¢ raised from local authoTJty and other orgdntsalions lor events or£anised by the masjid. Page 13 continud...
THE E[4AN TRUST OF SHEFFIELD NOTES TO THL FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 IIYVESYMENT INCOME 2024 2023 Deposit account interest 81 RAISING FUNDS Raising donations ind legacies 2024 2023 Raising funds Supwjil costs 13920 123,075 2.000 81,062 136,995 83,062 CHARITABLE AcfiYITIES cosrs SijpTrrt 05ts (5¢¢ note 61 Dircct Losts Totals Iasjid ActivAti¢s 62,473 113a06 SUPPORT COStS Covern2nce Wsts Mwiag¢IIiuil Fiti¢Ui Totals Rxising donations and le82cies M¢JId ALtiviti¥5 119,476 57ffj78 215 3084 123,075 62,478 177,154 215 184 185,553 NET INCOMEI(ExpEf4DrruRE) N¢t in¢0m&1(¢nditurC) is Statcd aftcr chI81n8/(ceaItitig). 2024 2023 Annual audit fee D¢pre¢iation - owned ass¢ts 4JOO 8,783 4.200 307 Pw14 continua...
THE EM41¥ TRIIST OF SHEFFIELD NOTES TO THE Tr"INANCIAL STATEMENfs- Continued FOR THE YEAR ENDED 31 JANUARY 2024 TRUSTEESI REMUNERATION AND BENEFII3 There were no trnstees. remunerdtion or other IKnefits for the year end 31 January 2024 nor for the year ended 31 January 2023. Trustees, expenses Th¢ w¢r¢ no Int¢¢5' ¢Kp¢n5¢5 paid for th¢ y¢ar ended 31 January 2024 nor forth¢ y¢ar ¢ndd 31 JaTruary 2023. STAFF COSTS 2024 2023 Wag¢s and saiari¢s 18045 12,089 18,845 12,089 Tlic avcrase tlionthly numbtt of ¢mployc¢s during th¢ y¢ar was as follows: 2014 20?] Employees No employees received emoluments excess of i6U.()tIu. io. COMPARATTrTS FOR THE sfATEMENf OF FINAf4CIAL AcrivrriES Unrestricted fimd Restricted fund Total nds INCOME AND ENtM)wME[S FROM ¢uid Ic¥dLif5 91.499 1.679,878 1,771,377 Inv¢5tsn¢nt inwm¢ gi 81 Tot*1 91,-580 ,679,%7R 1,771,4.5R EXPENDrruRE ON Rdisin¥ funds. 83.062 83,062 Charitable a¢tiYitie8 Ma8Jid Acttvities 27,906 27,(A)6 Tvtal 110,968 110,968 NET INCOMEI(IXPENDITURE) (19.388) 1,679,878 1,060,490 RECOIYCILIATIOIY UF FUIYDS Total funds brought forward 3.819.023 2.140,677 5,959,700 TOTAL FUNDS CARRIED FORWARD 3,79),635 3,820,555 7,620,190 Pase IS continued...
THE EMAAN TRU OF SHEFFIELD NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 JANUARY 21124 ii. TANGIBLE FIXED A&SETS Fixtur¢s Freehold prortY Computer equipment fittings Totsls cosr At l February 2023 Additions 721&835 1.135205 1229 7220,064 ,177,972 41767 At JI January 2024 8J54,040 44767 IA29 8J98,036 DEPRECIATION Ai l F¥bTU[ 2023 Charge for year 307 230 307 8.783 At 31 January 2024 8553 537 9.090 NET BOOK VALUE At.31 January 2024 8J54.040 34214 692 XJXA,946 At J l January 2U2i /Jix.¥i) Y22 7,21Y,757 12. CREDrroRS: AMOUNfs FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditotS 226 12,007 5ffj12 5,612 13. MOVEMENf IN FUNDS Net ovement At 31.1.24 At 1.2.23 in funds Ullifstricted tullds (ieneTai tund J,PYJ,6J5 (Y2,Y57} J,7116,678 Re&lriLivd fun(l¥ Construction fimd 3320555 984.662 4J05.217 TOTAL FUNDS 7,620.190 891,705 8,511.89S Pasc 16 ntinued...
THE E,MAAN TRUS[ OF SHEFFIELD OTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JANUARY 2024 13. MOVEMENT IN FUNDS- continued Net movement in fjjnds, included in the alx)ve are as follows: tncoming Rc30urccs expended Movcmcnt in funds Ullrestricted funds General fvnd 157.404 (25OJ61 } {92,957) Restricted funds Constru¢tioD fund 984,662 TOTAL FUNDS 1,142,066 (25OJ61) 891,705 Comparatives for movement in fim(is Net mnve.mpnt At 31.1.23 At 1.2.22 in fvnds Unrestricted General fund 3,819,023 (19,388) 3,799,635 Re5tricled funds Consttitction ftijnd 2,140,677 1,679,878 3,820,555 TOTAL FuDs 5.959.700 1.660.490 7.620.190 CA)mparative net move.ment tn fiinds, inc.Iiided in the. Aknvp arp. As fn11(v... Incoming Resources expended Movemenl in fundg lJnrt8tricted funds Gcncral fund 91.580 (110.968) (19,388) Restrieted fuDds O)nsmioion fund ,679,878 1,679,878 TOTAL FU13 .771.458 (110.968) 1.060,490 Pag¢ 17 ¢ontinud...
THE EMAAN TRUST OF SHEFFIKLD NOTES TO THE FIiNANCIAL STATEMI ENTS- continued FOR THE YEAR EP4DED 31 JANUARY 2024 13. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined wsition is &$ follows.. Ntl movement in fvnds At 31.1.24 At 1.2.22 Unreslrieted fullds Gcn¢ral fund 3.819.023 (112,345) 3,706,678 Restricted funds ConsmiGtion fund 2.140.077 2,664,540 4,805,217 TOTAL FUNDS 5.959.700 2,552,195 ¥,511.895 A current year 12 months and prior year 12 months combined net movement in fimds. included in the above are as follows: Incoming Reree% MovetnenÉ iti fuiids. Unrestricted fvnds General fund 248,984 (361 J29) (112,345) Restritted funds Constrnction lund 1664.540 2,6fy1,540 TnTAI, FIINDS 2.91.3.-524 (.161.329) 2,.$52,195 RELATED PARTY DISCLDSURES There were no related party transactio forthe year ended 31 January 2024. Pag¢ 18