Charity registration number 1134513 (England and Wales)
Company registration number 07055355
YUSUF ISLAM FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

YUSUF ISLAM FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees and oiTicers
Mryusuf Islam
DrAbdulkarim Khalil
Mr Shabir Randeree
Mr Muhammad Yoriyos Adamos
Foundation Manager
Mr Nathan McKenzie
Charlty number
1134513
Company number
07055355
Rogistered office
Th8 Maqam Centre
Tiverton Road
London
NW10 3HJ
Auditor
AMS Accountants CorForate Ltd
Floor 2
9 Portland Street
Manchester
M1 3BE
Bankers
HSBC Bank UK PLC
50-52 Kilbum High Road
London
NW6 4HJ
Sollcltors
Stone King LLP
Boundary House
91 Chartethouse Street
London
EC1M 6HR
Investment managers
Al Rayan Bank
Whstechapel Branch
97-99 Whitechapel Road
London
E1 1DT

YUSUF ISLAM FOUNDATION
CONTENTS
Page
TTUStees' report
Ind8pendent auditorfs report
Statement of financial activities
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13-29

YUSUF ISLAM FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charitys goveming document, the Companies Act 2006 and 'Accounting
and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective
1 January 2019)..
Objectives and activities
The charitys objects a￿ the fvrtherance of the religion of Islam and the furth8rancé of Islami¢ education in
accordance wlth thè teachings of the Holy Qurfan and the Sunnah of the Prophet Muhammad. The general
charitable activities of the Charity are educationAraining, community development, the prevention or relief of poverty,
religious activities, and artslculturelheritage.
In order to achieve its objectives, the d￿rity provides the use of its two school properties by Islamia Schools
Limited, provides rent-free accommodation to the voluntary-aided. Islamia Primary School, and deploys its
rèsources to support the local and Muslim communty. The charity also works with the commercial, ground floor
tenant of its Maqam Centre to support l¢)rnl community faith-based engagement and secular relief activities, and
continues to plan the development the centre's upper floors for community use.
Additionally, as part of the charitys activities. scholarships are awarded to pupils of its schools and grants are made
to individuals and organisations that share similar charitable objectives or actiwties. These are subject to strict due
diligence processes and delNered in accordance with the objects of the charity.
The group funds its activities by generating income in the fom) of investment income. rental income from ils propety
investments. school fees. and donations. The charity's senior management leam ensures that the levels of income
and expenditure are closety monitored and reported back to the tnjstees on a quarter]y basis.
The charity operates three subsidiaries. details of vh)ich can be found in Notes 1 and 18. The school operations are
operated through Islamia Schools Limited. a registered charity controlled by the Yusuf Islam Foundation.
Public benefft
The trustees confimi that they have complied vAlh their duty under Section 17(5) of the Charities Act 2011 to have
du8 r8gard to the Charity Commission's general guidance on public b8n8fit. Thè Foundation's charitsble activities
directly benéfit thè public through educab'onal provision, particularly by operating Islamia Girfs School and
Brondesbury College, which provide access to qualty education.
The Foundation also supports wder community welfare initialives. such as food relief programs that d81iv8r ov8r
one million meals to underserved populations globally. Additionally. the Foundation offers scholarships and free
access to community facilities, ensuring that financial constraints do not restrict access to education and community
resources. These activities advance education, relieve poverty. and promote indusivity and S￿la1 welfare. directly
benefidng both the local Muslim community and broader society.

YUSUF ISLAM FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Reserves and Investment Policy
The trustees have detemined that. after taking into account fixed asset balances. the Gharity should hold resgrves
that equate to at least three months of expenditure and enable it to continue to operate in the event of unforeseen
financial difficulli8s. As of 31 March 2024. the charity holds £21.842.555 in total reserves.
These r8S8rv8s provide a safety net against any potential reduction in funding and allow the charity to respond
fl8xibly to opportunities for investment in strategic projects. such as the èxpansion of the scholarship programme
and the development of the Maqam Centre. The reserves wll also be used to cover any unexpected costs related to
property maintenance or urgent charitable needs.
The trustees have considered the most appropriate policy for investing the funds of the charity to ensure the
Foundation has sufficient uncommitted and readily accessible assets to cover overheads or any unanticipated short-
term need. This includas short-temi and low-risk cash investments, which are included in the balance sheet of the
charity as current asset investments, and longer4emi property investments.
The Foundation's property investment assets include both residential and commercial properties in central London,
which are managed by extemal third party propety management agents and generate rental income to fund the
charitable activities of the group. Internal quarterly reports to the truSt￿S wovide updates on these investment
assets.
Rolated parties
Transactions belween related parties during the year, by virtue of shareholding or common trustees, are disclosed
in the notes to the financial statements.
Golng Concern
The trustees remain confident that they would be able to continue Ihe activities of the charity in ihe event of a
significant reduction in funding. The charity's unrestricted funds are £21.8m and the cash balance of the group is
approximately £1.5m.
The tNstees continue to benefit from the income-generating investment properties the charily owns but remain
ognisant that property-related income relies on the payment of rent from commercial and residential tenants. As
part of their going conc8m considerations, trustees exercise judgement and flexibilty with resped to rental incom8
arrangements and regularly review rental ino)me levels.
The trustees are also aware of the benefit of future Music publishing contractual opportunities available to Firecat
Music Limited. its wholly-owned trading subsidiary. Maqamat Limited will have potential trading income from the
Maqam Centre upon Completion of the upper floors. with (xjnstruction expected to commence in 2025126.
Twstees continuè to closely monltor student numb8rs within the context of its going ca)n￿rn considerations, with
any weaker enrolm8nt numbers being offset through the continuation of a budgetsry savings drive. The charfty has
continued to increase its marketing to boost enrolment numbers. Additionally, to ease the financial burden on
parentslguardians and increase the recoverability of f* income, the schools maintained amended terms and
conditions to allow greater flexibility to enable fee payment over an exterKled period. where appropriale.
Based on a review of cashflows and forecasts covering a year from the date of this report. the trustees are satisfied
that the charitable company and group is a going con￿rn and accordingly they continue to prepare the financial
statements on a going con￿rn basis.

YUSUF ISLAM FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Strategic report
The principal objeotives for the year we￿.
a review of the Foundation's current and future activities. in line with its chartlable objectives"
awarding of 'Good' (or higher) grade from Otsted for Islamia Girfs Sthool.
prevention or relief of poverty and hunger, through the provision of no less than one milllon meals, dellvery
of food banks, breakfast dubs, emargency food and disaster relief, and the installation of water wells and
solar energy stations.
an increase in rental yields from th8 Foundation's property investmant portfolio:
d81ivering a school improvement programme through a review of the schools. administrative and support
functions.
enhanced investment in educatit)n through an increase in the scholarship programme. and
a fomial study of the development potential of the Foundation's propety porffolio.
Achlevements and perfonnance
Significant activities and achievements against obiectiv8S
The Foundation has committed significant funds to the running of its highly successful secondary schools in
London, through its subsidiary Islarnia Schools Limited. The effeclive running of Islamia Gids School and
Brundesbury College has ensured that ￿th schools remain among the n￿st academically successful educational
institutions in London.
The most recent GCSE results show that. On￿ again. both the secondary schools have perfomied excellently. At
Brondesbury College, 100¥0 of students achieved 5 or MO￿ Grades ￿ and 94Yo of students al Islamia Gids
Schools achieved 5 or more Grades 9-5.
Islamia Girls School received an ofsted inspection from 4 to 6 July 2023 and was awarded Outstsnding ratings in
temis of student behaviour and atbtudes, as well as their personal developm8nt, with the school receiving a Good
rating for thé quality of edurAtion and for leadership and managemenL The overall effectiven8ss was rated as
Good.
A strategic remew of Ihe charity's schools was also completed durrng the reporting period. resulting in the adoption
of a new non-academic staff structure, the appointment of a School Business Manager and Deputy School Business
Manager, and the provtsion of new recreation facilities at the charstys schools.
As a mainstay of the Foundation's education aclivities. 22 scholarships, valu8d at £44,014 (2023.. £40,460) and
awarded on a basis of need and merit. were awarded to students at the secondary schools. 11 also continued to
provide rent-free accommodation to the voluntary-aided Islamia Primary School. as well as supporting local and
Muslim organisations through the cost-free faciltty use.
The prevention or relief of povety and hunger continued to be a key component of the Foundation's Charitable
activities during the reporting period, wilh more than one million meals provided during the reporting period through
its project. Peace Train. Through this project. the charity delivered food relief in several countries. including working
th Magic B￿akfast to deliver approximately 215.000 meals around the UK, as well as providing food banks in
South Africa, emergency food aid in Yemen. food parcels to Afghani refugees in Pakistan, and installed several solar
water and energy schemes around the worfd.

YUSUF ISLAM FOUNDATION
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Fundraising practices
The Foundation engages in a variety of fundraising activities. including receiving voluntary donations, and also
receives income from its property investments. During the reporting period. the charity did not employ any
professional third-paty fijndraisers. All fundraising efforts were conducted in-house by our staff and studenls. The
trust8ès aré committed to ensuring that fundraising practices are transparent, legal. and respectful. The Foundation
compli6S With Ihe Charity Commission's fundraising guidance and adheres to the Fundraising Regula10￿S Code of
Fundraising Practice. There have been no complaints re￿iVed regarding our fundraising activities in the reporting
period.
Financlal revlew
The Statement of Financial Activities on page 11 Sh￿ a net group deficit of £153,790 (2023: £255,452) The
trustees consider the slate of the charitys affairs to be satisfactory.
At the year end, overall resepies totaled £21.842,555 (2023: £21.996.345) with £21,059,735, (2023". £20.592,229
relating to fixed assets balance. and £111.497 being restricted (2023= £173.827). The charity retains reseNes as a
contingency against operational risks and for investment in strategic projects such as the development of the
Maqam Centre and refurbishment of the school properties.
The principal funding sources of the group are from investment income (Induding rental income), school fees paid
by parents of students. and donations. Royalties paid to the subsidiary, Firecat Music Limited, are paid as advances
when new publishing deals are negotiated and signed. Al expendtknre in the year has been on the furtherance of
education and community initiatives, including relief of povety. through spending on the school operations. grants
given for scholarships or donations to other charities and organisations that carry out similar activities.
Principal risks and vulnerabilities
The trustees acknowledge their responsibility to manage the risks faced by the charity. The trustees regularty review
the key risks facing the charity and have established procedures to mitigate those risks. The primary risks identified
are financial sustainability, Complian￿ with regulatory requirements, reputstional risks, and operdtional risks in the
management of school facilities and charitsble activities. To mitigate these risks. the trustees implement the
following..
Financial risk management: A comprehensive budg81ing process is in place, with quarterfy financial reports
r6viewed by th8 Iruste8s. Reserves policies are stricly adhered to in order to ensure sustainability.
Regulatory compliance: Regular intemal audits are conducted to ensure Complian￿ with Charity
Commission regulations and educational standards sel by Otsted and the Independent Sch¢)ols
Inspectorate.
Reputational risk management: The charity has adopted a public relations strategy that includes media
monitoring and regular communication wtth stakeholders to maintain trust and transparency.
Operational risks: Key personnel and senior management teams are tasked with ensuring that all charity
and school operations are effectively managed, with continuous staff training to address any gaps in
operational efficiency.
The upcoming application of VAT to private schcKJls poses a financial risk for the Foundation's subsidiary, Islamia
Schools Limited. due to the likelihood of needing to significantly increase luition fee levels. As a resuli, there is a risk
of reduced enrolment. which could strain the school's finances. Additionally. VAT compliance would increase
adtninistralive burdens and associated costs. Careful management and professional advice are essential to mitigate
these risks and have been engaged.

YUSUF ISLAM FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Plans for future pertods
As part of the strategic review of the schools. a bench-marking assessment of the perfomiance and educational
approach of faith-based secondary schools in England, particularly Muslim-faith schools, was developed, as well as
a comprehensive survey of the schooL8' Stakeholder5. The results of these actions are being used to develop a new.
three-year strategy for the schools, developmant. The Foundation is also exploring ways to enlarge its scholarship
programme to provide 9￿ater support to those in need. and Y￿￿1ng in c(Foperation with other charities for the
benefit of the Muslim and wider community-
The charity is continuing to develop the Maqam Centre. whith will be a landmark addition lo London's multicultural
landscape when completed and provide a state-of-the-art facility for contemplats've and creative expression, where
the community at large, prof8ssionals. academics and artlsts can meet. work and intera¢t.
Trustees are also actively looking to the long-temi fLrtur8 of th8 Foundation and are considaring ways lo maximise
the income from its assets. in order to broaden the range and impact of its activities in pursuit of its charitable
objectives.
Structure, governance and management
The Yusuf Islam Foundation (the 'Foundation') is a charitable company, limited by guarantee, and constituted by its
Memorandum and Articles of Association. dated 23 October 2009. The company registered as a charity on 25
February 2010. Yusuf Islam Foundation is the parent entity of the group and its subsidiaries are.. Islamia Schools
Limited {Charity no. 1134516 1 Company no. 07055378)- Firecat Music Limited (Company no. 01822129); and and
Maqamat Limited (Company no. 071830331.
The charity is govemed by its Board of Trustees. who are also directors for the purpose of company law. The
Trustees meet and comrnunicate regularfy to review the perfomiance of the Foundation. consider risks and issues
affecting the Foundation. and to review the fubjre plans of the Foundation
The trustees. who are also the directors for the purpose of company law. and who served durtng the year and up to
the date of signature of the financial stalements were:
Mrs Fawziah Islam
Mryusuf Islam
DrAbdulkarim Khalil
Mr Shabir Randeree
Mr Muhammad Yoryos Adamos
(Resigned 4 Seplember 2024)

YUSUF ISLAM FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Recruitment and appointment of trustees
The Trustees are responsible for the strategic direction. policy and overdll govemance of the charity. The
implementation of strategy, once agreed, and th8 day-to-day running and management of th8 charity's activities is
delegated to senior manag8ment.
Appointment of new trustees is govemed by the Memorandum and Artides of Association of the Foundation, with
appointments determined following a skills audit to ensure the board has diverse knowledge and expertise.
During thè reporting period, no changes were made to the charity's governance structure or trustees.. however, Mrs
Islam resigned as a trustee prior to signing. No Irustees had any beneficial interest in the charity. and no
remuneration or expenses of tTUStees was paid by the charity.
Trustees maintain a good working knowledge of charity and company law and best practice. Trustees are provlded
with training in order to carry out their duties to the besl of their abilities and in the best interests of the charity.
Training and induction is provided on an ad hoc basis for all trustees as necessary. An information pack was issued
to each trustee containing intemal reports, the latest Charity Commission guidance on a range of matters as well as
updated editions of the charity's policies. This pack is routinely updated viith new guidance.
Key personnel remuneration is detennined with reference to publicly available data and the advice of indeptsndenl
recruitment
consultsnts.
The Foundation
Manager
remunerated through the
Foundalion.
The trustees consider that conditions of service are set at an appropriate level and in line with medians in the charity
sector, and compliant with legislation. All salary recommendats'ons are approved by the trustees. A pension scheme
in line with established legislation is in place.
Statement of trustees. responsibilities
The trustees. who are also the directors of Yusuf Islam Foundation for the purpose of company law, are responsible
for preparing the Trustees, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Auditor
In accordance with the companys arfides, a resolution proposing that AMS Accountsnts Corporate Ltd be
reappointed as auditor of the company wll be put at a General Meeting.
Dlsclosure of Informatlon to auditor
Each of the tsijstees has confirmed that there is no infomiation of which they are aware which Is rélevant to the
audit, but of which the auditor is unaware. They have fvrther confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is awa￿ of such infomiation.
The trustees. report, induding the strategic report. was approved by the Board of Trustees.
Mr Shabir Randeree
Trustee
Oate.. 2711112024

YUSUF ISLAM FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YUSUF ISLAM FOUNDATION
Opinion
We have audited the financial statements of Yusuf Islam Foundation (the 'charitable company,) and its subsidiaries
(Ihe 'group'} for the year ended 31 March 2024 which comprise the slatement of financial activities, the statement of
cash flows and notes to the financial ststements, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 The Financial Repothng Standard applicable in the UK and RepubliG ol
Ireland (United Kin9dom Generally Accepted Accounting practi￿).
In our opinion. the financial statements:
give a true and fair view of the slate of the group's and the parent ¢haritsble company's affairs as al 31 March
2024 and of its incoming resources and application of resources, induding the group's income and
expenditure, for th8 yaar then ended.
have been properly prepared in accordance with United Kingdom Generally AcrEpted Accounting Practice.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol
the financial statements section of our report. We are independent of the group and the parent charitable company
in accordance with the ethical reqU1￿ments that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wttti
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the trustees. use of the going concem basis of
accounting in the prepardtion of the financial ststements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectivety. may cast significant doubt on the group's and the parent ¢haritabl8
¢ompany's ability to continu8 as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our r8sponsibilities and the resF)onsibilities of the truste8s with respect to going con￿rn are described in the
relevant sections of this raporL
Other Infomiatlon
The other information comprÈses the inforniation included in the annual report other than the financial statements
and our auditofs report thereon. The trustees are responsible for the other infomiation contained wthin the annual
report. Our opinion on the financial statements does not cover the other information and. except to th8 8XtÈnt
othernise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our
responsibility is to rèad the other infomation and. in doing so. consider whether the other infomation is materially
inconsistent with the financial ststernenls or our knowledge obtained in the course of the audit or othe￿iSe appears
to be materially misslated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether this gives rise to a material misstatement in the financial statements themselves. If,
based on the work we have perfomed, we conclude that Ihere is a material misststement of this oiher information.
we are required to report that fact.
We have nolhing to report in this regard.

YUSUF ISLAM FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF YUSUF ISLAM FOUNDATION
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit=
the infomation given in the tnJstees' report for the financial year for which the financial statements are
prepared, which includes the directors. report and the strategic report prepared for the purposes of company
law, is consistent with the financial ststements- and
the strategic report and the directors. report included wilhin th8 Iruste8s' report have been prepared in
accordance with applicable legal requirements.
Matters on which we are required to report by exceptlon
In the light of the kno￿edge and underslanding of the charity and its environment obtsined in the course of the
audit, we have not identified material misstatements in the strategic report or the directors, report included within the
trustees, rèport.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to r6POrt to you if, in our opinion..
adequate accounting records have not been kept. or retums adequate for our audit have not been received
from branches not visited by us. or
the financial statements are not in agreement with the accounting records and relums" or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the infomiation and explanations we require for our audit.
Responsibilities ol trustees
As explained more fully in the statement of trustees. resrKJnsibilities. the trustees. vtho are also the directors of the
charitsble company for the purpose of company law, are responsible for the preparalion of the financial statements
and for being satisfied that they give a true and fair view. and for such intemal control as the trustees detemiine is
necessary to enable the preparalion of financial statements that are free from material misstatement, whether due
to fraud or emr. In preparing the financial ststements. the twstses are responsible for assessing ihe group's and
the parent charitable companys ability to continue as a going concem, disdosing, as applicable, rnatters related lo
going concem and using the going cOn￿M basis of accounting unless the trustees either intend to liquidate the
charitable company or to cease operations. or have no realistic altematNe but to do so.
Audltor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about vthether the financial statements as a whole a￿ free from
material misslatement. whether due to fraud or error. and to issue an auditorfs report that Includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influenGe
the economic deasions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting itregularities. including fraud, is detailed below.

YUSUF ISLAM FOUNDATION
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF YUSUF ISLAM FOUNDATION
Based on our understanding of the charitsble company and industy, we identified that the principal risks of non
compliance wlh laws and regulations related to pensions legislation. UK tax legislation and UK employment
legislation, and we considered the extent to which non- Complian￿ might have a malerial effeci on Ihe financial
statements. We also considered those laws and regulations that have a direct impact on the preparation of the
financial statements such as Ihe Companies Act 2006. We evaluated management's incentives and opportunities
for fraudulent manipulation of the financial slalements (including the risk of override of controls), and deterniined
that the principal risks were related to posting inappropriate joumal entries to increase revenue or manipulate
8XP8nditure and management bias in arKounting estimates. Audit procedures perfomed by the audit engagement
team included:
Discussions with managemenL including consideration of known or suspected instances of non-compliance
wlth laws and regulation and fraud.
Review of Ihe financial ststement disdosures to und8dying supwrting documentstlon;
Cha118nging assumptions and judgements made by management in their slgntficant accounting estimates.,
Identifying and testing joumal entries, in particular any joumal entries posted with unusual account
combinations or posted by senior managemént.
There are inherent limitstions in the audit procedures described above and the fvrther removed non- compliance
with laws and regulations is from the events and transaction reflected in the financial statements, the less likely we
would become aware of it. Also. the rtsk of not detecting a material misstatement due to fraud is higher than the risk
of not detecting one resulting from error, as fraud may invoFve deliberate COn￿alment by, for example, forgery or
intentional misrepresentations, or Ihrough collusion.
A further description of our responsibilttses is available on the Financial Reporting Council's website at= httpsjl
www.frc.org.ukJauditorsresponsibilities. This description forms part of our auditorfs report.
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 might state to the charitable CoMpan￿S
tnembers those matters we are required to state to them in an auditor's report and for no other purpose. To the
fullest exient permitted by law, we do not accept or assume responsibility to anyone other than the Charitable
company and the charitable 0)mpan￿$ members as a b(xly. for our audit work. for this r8POrt. or for the opinions we
hav8 fomed.
tk, tyr￿
Andrew Davls ACCA CTA FMAAT (Senior Statutory Auditor)
For and on behaEf of AMS Accountsnts Corporate Ltd, StabJtory Auditor
Chartered Accountants
Floor 2
9 Portland Street
Man¢hester
M13BE
Date: ......

YUSUF ISLAM FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restrlcted
funds
fvnds
2024
2024
Total Unrastricled Restrlcted
funds
funds
2023
2023
Total
2024
2023
Nolos
Income and endowments from:
Donations and legacies
Charitable activilies
Other Irading activities
Investments
Other income
190.822
1.761.390
188,779
379.601
1.761.390
3.407
1,643.351
8,114
427,923
39,088
442.182
445,589
1,643,351
8,114
427,923
39,088
470,018
23.489
470.018
23.489
Total Income
2.445,719
188,779 2.634.498
2.121,883
442,182 2,564,065
Expenditure on:
Raising funds
Charitable activities
164,936
2.393,541
164,936
229,811 2,623,352
166,935
2.189,239
166,935
463.343 2.652,582
Total expenditure
2.558.477
229,811
2,788,288
2,356.174
463,343 2,819,517
Nat expenditure
(112,758)
(41.032) (153,790)
(234,291)
(21,161) (255,452)
Transfers between
funds
21.298
(21.298)
Net movement In
funds
10
(91.460)
(62.330) {153.7￿)
(234.291)
(21,161) (255,452)
Reconciliation of funds:
Fund balances at 1 April 2023
21.822.518
173,827 21.996,345
22.056,809
194.988 22.251,797
Fund balances at 31 March
2024
21,731,058
111,497 21,842.555
21,822,518
173,827 21,996,345
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
10-

YUSUF ISLAM FOUNDATION
GROUP BALANCE SHEET
ASAT 31 MARCH 2024
Group
2024
Charity
2024
2023
2023
Notes
Fixed assets
Tangible assets
Investment property
Investments
16
17
18
13,638.284
7,421,451
13,612,229
6.980,000
13,659.745
7,421.451
200
13,667,434
6,980,000
200
21.059,735 20,592.229 21,081,396
20,647,634
Current assets
Debtors
Cash at bank and in hand
19
129,171
1,538,811
133,819
2.533.017
165,850
1,293,272
163,692
1,687,484
1.667.982
2.666,836
1,459,122
1,851,176
Credltors: amounts falllng due within one
year
20
{714,212) (1,131,420)
(541,392)
1432.491)
Net current assets
953.770
1.535,416
917,730
1,418,685
Totsl assets less current Ilabiliiles
22.013,505
22.127,645
21,999,126
22,066.319
Creditors: amounts falling due after mo
than one year
21
(170,950)
(131,300}
Net assets
21,842,555
21.996,345
21,999.126
22,066,319
Income funds
Réstricted funds
Unréstricted funds
23
24
111,497
173,827
21.731.058 21.822,518
132,795
21,866,331
173,690
21,892,629
Net assets
21,842,555
21,996,345 21,999,126
22,066,319
The income and defidt of the parent charity for the year for Companies Act purposes is £684.328 and £87,273
deficit respectively (2023 .' £912,599 and £55,197 deficit). As pe￿nitted by Section 408 of the Companies Act 2006.
no separate ststsment of financial activities is presented in respect of the parent charity.
The finan
al statements were approved by the trustees on 2711112024.
Mr Shabir Randeree
Director
Company Registration No. 07055355
11

YUSUF ISLAM FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash Ilows from operallng activltles
Cash absorbed by operations
26
(966,875)
(369.268)
Investlng actlvltles
Purchase of langible fixed assets
Purchase of investment propety
Investment income received
(55,898}
(441.451 }
470,018
(53.481)
427,923
Net cash (used in)Igenerated from Investlng
actlvltl8s
(27.3311
374.442
Net cash generated from financing a￿1VitieS
Net (decreaseylncrease In cash and cash
equivalents
{994.206)
5.174
Cash and cash equivalents at beginning of year
2,533.017
2,527.843
Cash and cash equivalents at end of year
1.538.811
2.533,017
12-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity information
Yusuf Islam FoundalÈon is a private company limited by guarantee incorporated in England and Wales. The
registered office is The Maqam Centre, Tiverton Road, London, NW10 3HJ. There are currently four trusteès
who are also the members of the company. Each member has undertaken to contribute to the assets in th8
event of winding up a sum not exceeding £10.
1.1 Accounting convention
Th8 financial ststements have been prepared in accordance with the chariws goveming document. the
Companies Act 2006. FRS 102 The Financial Reporbng Standard applicable in the UK and Republic of
Ireland" ("FRS 102") and the Charities SORP 'Accounting and R8POrting by Charitres: Statement of
Recommended Practica applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in th8 UK and Republlc of Ireland (FRS 102). (effective 1 January 2019). The
charity is a Public Benefft Entity as defined by FRS 102.
The financial statements a￿ prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these finanaal ststements are rounded to the nearest £.
The ffinancial statements have been prepared under the historical cost convention Imodified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at fair
value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial staternent5. the trustees have a reasonable expectation that the charity
has adequate resources lo continue in operational existen￿ for the foreseeable future. Thus the trustees
continue to adopl the going concem basis of accounting in preparing the financial statements.
The trustees are confident that they V￿uld be able to Djntinue the adivities of the charity in the event of a
significant drop in fvnding due to the level of unrestricted reserves and free Cash reserves. For further
infomation, please see consideration of going concem in the trustees. report. Based on a review of cash flows
and forecasts covering a year from the date of signing the balance sheet. the trustees are satisfied that the
charitable company and group is a going concem and aco)rdingly they continu8 to pr8pare the financial
statements on a going concem basis.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to SP8cific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted frjnds are set out in the noi8S to the financial statements.
1A Income
Income is recognised when the charity is legally entided to il after any performance conditions have been met,
the amounts can be measured reliabty. and it is probable that inojme will be receNed.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been
notified of the donation. unless perfomiance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
time of the donation.
Legacies are recognised on receipt or otherwise if the chatity has been notified of an impending
distribution. the amount is kn¢)wn. and receipt is expected. If th8 amount is not known. ihe legaoy is
trealed as a contingent asseL
13-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policlos
(Continued)
Investment income relates to rentsl income received in respect of the charitys investrnent properties
and also interest receivable generated from the charity's cash investments.
Deferred income is reownised and released on a proportioned basis, calculated by roference lo the
proportion of school fees invoiced in advance.
Charitabl8 activities relate to sch￿1 fees receivable by Islamia Schools Limited. in respect of the two
schools run by that charity being Islamia Girfs, School and Brondesbury College for boys, based in
Queens Parf( and Brondesbury Park. London respectively.
Other trading activthes relate to the receipt of royalties by the charity's subsidiary, Flrecat Music
Limited, income from funds transferred from unincorporated entities for the furiherance of charitable
activities, and other income.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it
is probable that settlement will be required and the amounl of the obligation can be measured reliably.
Expenditure on charitsble activities indudes:
Grant funding of activities is recognised on the basis that the charity has an obligation. when transfer of the
funding is probable and the amount of the obligation and can be measured or estimated reliably. Grants are
made at the discretion of the trustees on a cas&by-case basis.
Activities undertaken directly relate to direcuy atttibutable costs in pursuance of Ihe charity's objectives and an
allocation of support costs. Support costs are allocated in line with the basis that they relate to the charitable
activities of Ihe charity but are not directly related to the income generated from such activities. The vasl
majority of support costs cOMprc￿lse teaching and administration salaries.
Support costs are those functions that assist the work of the charity but do not direcdy undertak8 charitable
activities. Support wsts include back office costs. finance, personnel. payroll and govemance costs which
support the trusts programmed and activiti8s. These costs have b88n allocated between cost of teaching.
promotional work and exp8nditure on communty c8ntre activities. The bases on which support costs have
been allocat8d are sel out in the notes to the finanaal statements. No support costs are althgted to
fundraising orgrant making on the grounds of matsriality.
Govemance costs are induded in support costs and relate to accountancy, audit. legal and prof8ssional
advice provided to the group.
Expenditure on raising funds relales to professional incorne payable and royalties payable by the charity's
subsidiary. Firecal Music Limited. and are recognised on an accruals basis. Also included are maintenance
costs relating to property investment income.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases:
Freehold land and buildings
Leasehold land and buildings
Fixtures and fittings
Molor vehicles
Not depreciated
Not deprectated
20Q/o straight line
200A straight line
14-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
Freehold land and assets relate to a long tenn leasehold flat. 131B Salusbury Road. as well as school
properties located at 8 Brondesbury Park and 129 Salusbury Road, London NW6. the property values stated
in these accounts are cost. The trustees consider that the useftjl economic lrfe of these buildings is SLrfficiently
long and the market value is in excess of c05t. Accordingly. the trustees are satisfied that no depreciation
needed to be charged in the accounts against the value of the buildings as 950/ts of the value relates to land
and therefore the depreciation charge would be immaterial.
The Maqam Centre, London, NW10 has been dassed as an asset in the course of constnjctton to more
clearly show its current stage of development. The trustee5 are satisfied that no adjustment for depr8cialion,
impaiment of valuation is needed until the centre is ¢omplete.
The gain or loss arising on the dtsposal of an asset is d8t8miined as th8 drff6r8nce between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of ffinancial activities.
Functional property of Islamia Schools Limited consists of fumiturè. r￿tureS and equipment. Fumiture, fixtures
and equipment is depreciated in accordance with the deprecation policy stated above.
The charity has no heritage assets. Any items below £500 or nol considered to have a useful economic life ol
rnore than one year are not capitalised. Impaimient reviews are carried out by the trustees on an annual basis
to assess whether any impairment of fixed asses needs to be made in the financial statements.
1.7 Investment property
Investment property. which is property held to eam rentals andlor for capital appreciation, is initially
recognised at cost. which includes the purchase cost and any directly attributable expenditure. SubseqLJently
it is measured at fair value at the reporiing end date. The surplus or deficit on revaluation is recognised in
profit or loss.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
vlhether there is any indication that those assets have suffered an impainnent loss. If any such indirAtion
exists. the recoverable amount of the assat is estimated in order to detemine the extent of the impaimient
loss (if any).
1.9 Cash and cash equivalents
Cash and cash equivalents indude cash in hand. deposits held at call ￿￿th banks, other short-tem liouid
investments with original matUr[￿eS of three months or less, and bank overdrdfts. Bank overdrafts ar8 shown
thin l)orr0v￿ngS in current liabilities.
1.10 Financial instruments
The charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitys balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities a￿ offset, with the net amounts presented in the financial statements. when
Ihere is a legally enforceable right to set off the recognised amounts and there is an intention trj setue on a net
basis or to realise the asset and seffle the liability simultaneously.
15-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcies
(Continued)
Basic financlal assets
Basic financial assets. which include debtors and cash and bank balances. are initially measured at
Iransaction price including transaction costs and are subsequently carried at amorknsed cost using the effective
int8rest m81hod unless Ihe arrangement wnstitutes a financing transaclion, where the transaction is
measured at Ihe present value of the future r8ceipts discounted at a Ma￿et rate of interest. Financial assets
classified as re¢eNable within one year ar8 not amortised.
Baslc financial liabilities
Basic financial liabilities, indudlng creditors and bank loans are tnitially recognised at transaction price un18SS
the arrangement constitutes a financing transaction. where the debt instrument is measured at the pres8nt
value of the future payments discounted at a rnathet rate of interest. Financial liabilities dassified as payable
within one year are not amorknsed.
Debt instruments are subsequenlly carried at amortised cost. using the effèctive interest rate method.
Trdde creditors are obligations to pay for gtx)ds or seNices that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilitses. Trade creditors are recognised initially at
transaction pri￿ and subsequently measureil at amortised cost using the effective interest Meth¢￿.
Derecognition of financial liabilitles
Financial liabilities are derecognised when the chariws cA)ntractual obligations expire or are discharged or
cancelled.
1.11 Taxation
The parent company is a registered charity and has no liability to corporation lax on its charitable activities
under the Corporalion Tax Act 2010 {Chapters 2 and 3 or part ii, section 466 onwards) or Section 256 of the
Taxation for Chargeable Gains Act 1992. to the extent surpluses are applied to its charitable purposes.
1.12 Employeo benefits
The cost of any unused holiday entitlèment is re(x)gnised in the period in which the employee's servic8s are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terniinate the employment of an employee or to provide tennination benefrts.
1.13 R6tlrement beneflts
Payments to defined contribution retirement benefit schemes are tharged as an expense as they fall due.
1.14 Basls of consolldatlon
The trading activities of the charitys vtholly owned subsidiary, Firecat Music Limited, are incorporated in these
accounts and consolidated on a line-by4ine basis. Firecat Music Limited's results relate to the accounting
period up to 31 March 2024.
The aclivities of the trading subsidiary, Maqamat Limited, are incorporated in the accounts and consolidated
on a line-by-line basis. Maqamat Limited's results reL2te to the accounting period up to 31 March 2024.
The trading activities of the charity's wholly owned subsidiary, Islamia Schools Limited. are incorporated in
these accounts and consolidated on a line-by4ine basis. Islamia SrthocAs Limited results relate to the
accour)ting period up to 31 March 2024.
16-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcies
{Contlnued>
1.15 Fund accounting
The charivs reserves are alltxated between restric18d and unrestricted fvnds.
Restricted funds are funds subject to specific restrictions imposed by the fvnding authorities and donors.
Th8se funds are not available for th8 Trustees to apply at their discretion.
The purpose and use of the restricted fvnds is set out in note 23 to the financial statements.
Critlcal accountlng estimates and judgements
In the application of the charttys accounting poliaes, the trustees are required to make Judgements, estimates
and assumptions about the carying amount of assets and liabilities that are not readily apparent from other
SoUr￿s. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Aclual results may differ from these estimates.
The estimates and undedwng assumptions are ￿vieWed on an ongoing basis. Revisions to accounting
estirnates are recognised in the period in vthich the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects l)oth currenl and future
periods.
Critical Judgements
The following judgements {apart from those involving estimates) have had the most significant effect on
amounts recognised in the financial statements.
Fair value of investment propertses
The trustees engage a Chartered Surveyor to cary out a valuation of investment properties held by the
charity at regular inteNals. During the interim periods. the trustees review rent yields in consultation with the
charity'5 propety manager to ensure that fair value has remained consistent Vlith prior years.
The Maqam Centre is currenlly hekl as assets under construction. Upon completion of the on-going
developmen( when the Centre comes into full operation, it will be transferred to investment propety status.
The trustees do no consider there are any other critical j￿ents or sources of estimation uncertainty
requiring disdosure.
17-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from other trading activities
Unrestricted Unrestricted
funds
funds
2024
2023
Nonwcharitable trading activities
8,114
Charitable activlties
Unrestricted Unrestriettd
funds
funds
2024
2023
School fees receivable
1.761,390 1,643,351
Income from investments
Unrestricted Unrestrictsd
funds
funds
2024
2023
Rentsl income
470,018
427,923
other income
Unrestricted Unrastricted
funds
fund5
2024
2023
Other Incom8
23.489
39,088
19-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Tradin
costs
Music publishing trading CL)sts
100,796
113,687
Investsnent management and property trading costs
64,140
53,248
164,936
166,935
Expenditure on charitable activitlès
Activities
undertaken
directly
2024
Activitles
undertaken
directly
2023
Direct costs
Staff costs
Depreciation and impaimient
Teaching
1,561,036
29,843
845,305
1,358,272
19,364
1,010.325
2.436,184
2,387,961
Share of support and govemance costs (see note 11)
Governance
187.168
264,621
2,623,352
2.652,582
Analysis by fund
Unrestricted funds
Restricted funds
2,393,541
229.811
2,189,239
463.343
2.623,352
2,652,582
10 Net movement in funds
2024
2023
The nel movement in funds is stated after chargingl(credtting):
Fees payable for the audit of the charivs finanoal statements
Depreciation of owned tangible fixed assets
14,250
29,843
14.250
19.364
-20-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Support & Govemance costs
Support Governance
costs
c¢ysts
2024Support costs Govemance
costs
2023
Leg81 and professional
costs
Audit and accounts
Oth8r
103.016
53,824
30,328
103,016
53.824
30,328
169,890
94.731
169,890
94,731
187,168
187,168
264,621
264,621
Govemance costs relate to legal, audit and accountancy work. Support costs include utilities. teaching
resources, office costs. repairs and maintenance as well as depreciation.
12 Trustees
None of the trustees (or any persons connected with them) received any remuneralion. expenses or benefits
from the charity during the year.
13 Audito¢s remuneratlon
Fees payable to the charity's auditor and associates:
2024
2023
Audit of the charity's annual accounts
14.250
14,250
Other services to the group
- Audit of th8 charity's subsidiaries
15.000
13,500
Total audit fees
29,250
27,750
14 Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Staff
Directors
47
45
Total
52
50
21

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Employees
(Continued)
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
1.392,178
133,686
35.172
1,212.669
114.142
31,461
1,561,036
1,358,272
The key management personnel of the parent Charity are noted on the legal and administration page. The
total remuneration (including pension and national insurance conlributions) of the key management personnel
of the Charity totalled £140.570 (2023- £50,746).
The number of employèes whose annual remuneration was more than £60,000
is as follows=
2024
Number
2023
Number
£60,000 to £100.000
15 Taxation
The charity is exempt from tax on income and gains falling wsthin seCt￿n 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to thè exient that these are applied to its charilable objects.
-22-

u<<

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Investment property
2024
Group and company
Falr value
At 1 April 2023
Addtbons through ext8mal acquisition
6,980,000
441.451
At 31 March 2024
7,421,451
Investment property comprises freehold and leasehold land and buildings. Investment property is stated at
fair value based on the last valuation Ca￿led out in November 2021 by a FRICS qualified surveyor on an
open market basis by reference to market evidence of similar propety valuations.
Be￿een valuations the Trustees review the properties for indicators of impaim)ent or significant increase in
value based on property indices. The next independent valuation will be undertaken in 2026.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts
would have been included as follows:
2024
2023
Cost
Accumulated depreaation
7.203,529
6,762,078
Carying amount
7.203,529
6,762,078
18 Fixed assot Investments
Group
2024
Charlty
2024
2023
2023
Cost or valuation
At 1 April 2023
Investrnents in subsidiari8S
200
200
At 31 March 2024
200
200
Details of the company's subsidiaries at 31 March 2024 are as follows. all subsidiaries are held at cost .'
Name of undertaking
Class of share held
•/0 held
Maqamat Ltd
Firecat Music Ltd
Islamia Schools Ltd
Ordinary
Ordinary
Ordinary
100
100
100
I the subsidiaries have the same regist8r8d office address
-25-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Debtors
Group
2024
Charity
2024
2023
2023
Amounts falling due withln one year:
Trade debtors
Amounts ow8d by subsidiary undertakings
other debtors
Prepayments and accrued income
57,049
66,799
41.822
99,369
14,207
10,452
35.742
72.106
2,207
53,637
33,053
39,069
18,845
48,175
129,171
133.819
165,850
163,692
20 Credltors: amounts falllng due wlthln one year
2024
2023
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
8,381
63,314
155,905
486,612
68.330
109,465
276.944
676,681
714,212
1.131.420
21 Creditors: amounts falling due after more than one year
2024
2023
other creditors
170,950
131.300
22 Rotirement benefft schemes
2024
2023
Definèd contrlbullon schemes
Charge to profit or loss in respect of defined contribution schemes
35.172
31,461
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
-26-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
23 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants h61d on trust
subject to specific conditions by donors as to how they may be used.
At 1 Aprll
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
Peace Train
Scholarshlp fvnd
152.529
21.298
188,779
(229.811)
111.497
(21,298)
173,827
188,779
(229,811)
(21,298)
111.497
Prevlous year:
At 1 April
2022
Incoming
resources
Resources
expended
Transfers At 31 March
2023
Peace Train
Scholarship fund
173.690
21.298
442.182
(463.343)
152,529
21,298
194.988
442.182
{463.343)
173,827
24 Unrestricted funds
The unrestricted fijnds of the charity comprise the unexpended balances of donations and grants which aré
not subjed to specific condttions by donors and grantors as to how they may be used. These include
esignated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2023
Incomlng
resourc8s
Resources
expended
Transfers At 31 March
2024
General funds
21.822,518
2.445,719
{2.558,4TI}
21,298
21,731.058
Prèvlous year:
At 1 Aprll
2022
Incomlng
resources
Resources
expended
Transfers At 31 March
2023
General funds
22,056,809
2.121,883
(2,356,174)
21,822,518
-27-

YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
25 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Investment properties
Current asselsl(liabilitiesl
Long lem liabilities
13,638,284
7,421,451
842,273
{170,950)
13,638,284
7,421,451
953,770
{170,950)
111,497
21,731,058
111,497
21,842,555
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At 31 March 2023:
Tangible assels
Investment properties
Current assetsl(liabilities)
Long temi liabilities
13,612,229
6.980.000
1.361,589
(131.300)
13,612,229
6,980,000
1.535,416
{131.300)
173,827
21,822,518
173.827
21.996,345
26 Cash absorbed by operatlons
2024
2023
Deficit for the year
(153.790)
(255,452)
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impaimient of tangible fixed assets
(470,018)
29,843
(427,923)
19,364
Movements in working capital:
(Increaseydecrease in stocks
Decrease in debtors
(Decreaseyincrease in creditors
29,532
248,963
16,248
(377,5581
Cash absorbed by operations
(966.875)
(369,268)
27 Analysis of changes in net funds
The charity had no material debt during the year.
28 Related party transactions
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YUSUF ISLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
28 Related party transactions
(Continued)
The following amounts were outstanding at the reporting end dale:
Amounts owed to related
parties
2024
2023
Amounts owed to related parbes
93,393
79.187
The Charity has taken the exemption under FRS102 not to disdose group transactions with wholly ownéd
subsidiaries.
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