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← Islamic Education And Research Academy (Iera)

2025-06-30-accounts

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Registered number: 06941044 Charity number: 1134566

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

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ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

CONTENTS

Page
Trustees' Report 1 - 44
Independent Auditors' Report on the Financial Statements 45 - 48
Statement of Financial Activities 49
Balance Sheet 50 - 51
Notes to the Financial Statements 52 - 67

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TRUSTEES ANNUAL REPORT 2024-2025

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TRUSTEES

Saqib J. SATTAR, Trustee Anthony W. G. GREEN, Trustee Edward S. CRACKNELL, Trustee Kamran I. HUSSAIN, Trustee

INDEPENDENT AUDITORS

Amex Associates Limited 1st Floor, 144-146 East Barnet Road Barnet, London, EN4 8RD

REGISTERED OFFICE

Suite 321 Crown House, North Circular Road London, NW10 7PN

BANKERS

National Westminster Bank Plc 1 Abbey Rd, Park Royal, London, NW10 7YQ

Company Registered Number: 06941044 Charity registered Number: 1134566

Chief Executive Officer: Subboor Ahmad

TRUSTEES OPENING STATEMENT

The Trustees present their annual report alongside the audited financial statements for the period from 1 July 2024 to 30 June 2025. They confirm that both the report and the financial statements comply with current statutory requirements, the charity’s governing document and the Statement of Recommended Practice (SORP).

These have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from 1 January 2015, as amended by Update Bulletin 1. As the charity qualifies as a small company under section 383 of the Companies Act 2006, it is not required to produce a strategic report under the Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013.

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A MESSAGE FROM OUR CEO

Asalamulaykum Friends,

At iERA, our objective remains clear: to share an understanding of Islam with compassion, clarity and respect and to facilitate meaningful opportunities for people to explore faith through informed and open dialogue.

Reflecting on the past year, we are grateful for the progress made across our global activities. During 2024–2025, we have continued to strengthen our organisational capacity, enabling us to engage more effectively with diverse communities and deliver our educational initiatives with greater consistency and impact. We have enhanced our internal systems and processes, improving efficiency, accountability and the overall quality of our programmes. At the same time, we have invested in the development of our teams, supporting outreach practitioners and volunteers to engage responsibly, ethically and with cultural sensitivity in the communities they serve.

A key priority has been the continued development of our support for new Muslims. Through structured educational programmes, mentoring and community engagement, we aim to ensure individuals are supported in a way that is accessible, inclusive and conducive to their personal development and wider participation in society.

In a world shaped by uncertainty and increasing social challenges, the importance of education, mutual understanding and respectful dialogue remains ever more significant. Our work seeks to contribute positively in this space by providing opportunities for individuals to learn about Islam, ask questions and engage in thoughtful reflection. In regions such as Africa and beyond, our focus has been on strengthening training and delivery models to ensure activities are carried out responsibly, sustainably and with long-term community benefit in mind.

We are sincerely grateful to our donors and supporters for their continued trust and generosity. Your support enables us to carry out this work with integrity and care, ensuring that resources are used responsibly and in line with our charitable objectives. As we look ahead, we remain committed to building on these foundations, strengthening our impact and continuing to serve communities in a way that reflects our values and responsibilities.

Jazakum Allahu khairan for your continued support.

Warmest regards, Subboor Ahmad Chief Executive Officer of iERA

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OBJECTIVES & ACTIVITIES

The objectives of the charity are set out in the Articles of Association and are summarised below:

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PUBLIC BENEFIT

The trustees recognise their obligation under Section 4 of the Charities Act 2011 to follow the Charity Commission’s general and relevant sub-sector instructions on public benefit. All activities undertaken by the Charity are for the public benefit. With a primary focus on providing education, the charity’s operation is geared to providing benefit for the wider Non-Muslim, Muslim and new Muslim communities, as is highlighted by the activities reported herein.

The work of iERA is in accordance with our charitable objective of the advancement of the Islamic Religion. iERA empowers Muslims to feel confident in sharing the message of Islam. It provides Non-Muslims opportunities to understand the tenets of the Islamic faith. And assists N Muslims are to learn how to practice their Islam. Thus providing a platform for people to engage the topic in safe spaces and feel comfortable to ask questions.,This leads many people to ponder over the true teachings or to embrace Islam as a way of life, positively impacting themselves and their communities.

iERA advances the education of the public in the ways of Islam through various means including talks, lectures, workshops, exhibitions and outreach activities. This is a service for the wider community and it serves to educate, inform and empower the general public by giving them a better appreciation of the authentic teachings of Islam. This aims to help reduce the alienation of people in various communities across the globe and lead to increased community understanding.

With its new Muslim support, iERA works to provide people with the opportunity for spiritual development and a well-grounded comprehension of the basics of Islam based on authentic teachings and traditions. This provides a foundation for them to feel empowered to continue to learn and develop their understanding of Islam, without leaving them vulnerable to misinterpretations. The core of the educational philosophy is to share with new Muslims a sense of moral responsibility and ethical values as well as upright citizenship in wider society.

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OUR VISION & STRATEGY

Our vision is to advance the prophetic mission of connecting humanity to their Creator. We do this by making high quality content, print materials and exhibitions available in public spaces inviting individuals to learn about Islam and make informed personal decisions based on understanding and reflection.

Our global strategy is to identify, train and deploy Dawah Specialists who then go into cities, towns and villages, build relationships with key stakeholders and local communities to share Islam effectively with the local population.

When people take their shahada (bearing witness to embrace Islam) we provide foundational support in the form of a new Muslim education programme, focused on teaching the basics of Islam and empowering them to engage in continued development. We aim to support individuals in developing a well-informed understanding of their faith and contributing positively to wider society.

We also build relationships with local community leaders and local NGOs, to help make the journey of these new Muslims easier and for them and their communities to be empowered through sustainable development programmes.

To facilitate our global work, we host outreach activities online and in person, we publish and distribute a range of materials in the shape of books, pamphlets and leaflets on various aspects of the Islamic faith in various languages such as English, Spanish, French, Swahili, Chichewa and many more

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PLANS FOR FUTURE PERIODS

In the upcoming period, our focus will be on strategic consolidation and optimisation, prioritising key “bright spot” countries where we have seen the greatest impact and potential for growth.

In Africa, this includes Malawi, Rwanda and Uganda, and in Latin America, Ecuador and Paraguay. Our efforts in these regions will centre on strengthening local leadership, improving consistency in outreach activities and building scalable, sustainable models that can be replicated elsewhere.

Alongside this, we will optimise existing operations by improving efficiency, enhancing team training and strengthening systems for reporting and accountability.

Our goal is to deepen long-term impact through better follow-up and mentorship of new Muslims, while ensuring each key country moves towards greater independence and sustainability, with only selective and strategic expansion where strong foundations already exist.

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ACHIEVEMENTS & PERFORMANCE

MAJOR ACHIEVEMENTS

Over the past year, 204,620 individuals embraced Islam through our dawah specialists working across 38 countries. This marks a remarkable increase from 2023, when 64,970 people took their shahada. And with the mercy and blessings of Allah is a positive reflection of our internal optimisation efforts with systems, training and deployments.

While some countries saw particularly high numbers and notable growth, the overall success was spread across various regions, demonstrating the wide-reaching impact of global dawah efforts.

An astounding 1,268 people embraced Islam through our online efforts with the ‘One Reason’ international online chat service. This is supported by 13 dedicated teams around the world, working to clarify misconceptions, answer questions and assist people who are searching for Islam in multiple languages working around the clock in different time zones.

During this same period, we supported 133,883 new Muslims across 38 countries. Much of this support was delivered through our New Muslim Education programmes including online and offline classrooms, residential retreats and educational materials and mentorship designed to help individuals strengthen their understanding and practice of Islam.

We distributed over half a million of our most popular educational materials to audiences around the world, further extending the reach of this message, inviting more people to learn about Islam in a warm, accessible and thoughtful manner.

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JULY 2024 - JUNE 2025

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During this reporting period, iERA’s work in the United Kingdom delivered a range of Islamic outreach (da’wah – inviting people to learn about Islam) and educational activities. A total of 973 Brits embraced Islam during this year, and 535 new Muslims received structured new muslim follow up support.

KEY OUTPUTS

973 individuals embraced Islam

535 new Muslims were supported in the UK

204,478 educational materials were distributed

427 individuals were trained in the UK through courses and classes

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OUTREACH AND ENGAGEMENT

Public engagements remained a central focus, including:

These activities aimed to provide accessible information about Islam and encourage open, respectful dialogue.

NEW MUSLIM SUPPORT HIGHLIGHTS

Support included mentoring, education and community integration, helping individuals build confidence and understanding in their new found faith.

The UK programme aims to reflect a structured and balanced approach, combining public engagement, training and ongoing support to deliver clear educational benefit and meaningful community impact.

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JULY 2024 - JUNE 2025

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During this reporting period, iERA Europe delivered Islamic outreach (da’wah – inviting others to learn about Islam) and educational activities across Germany, Austria, Switzerland, the Netherlands and Belgium. A total of 505 individuals embraced Islam, with 193 New Muslims receiving structured ongoing new muslim support.

KEY ACHIEVEMENTS

OUTREACH AND ENGAGEMENT

Activities focused on direct public engagement, including outreach stands, street conversations, online sessions, exhibitions and public talks.

These initiatives aimed to provide accessible information about Islam and encourage open, respectful dialogue.

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TRAINING AND VOLUNTEERS

8 batches of Volunteers trained and developed Support provided to 10 outreach teams 40–60 active volunteers engage monthly Volunteers played a key role in delivering activities and supporting ongoing engagement improving outreach and efficiently utilising donations to deliver services across multiple countries within a limited budget.

NEW MUSLIM SUPPORT

193 new Muslims received structured support through mentoring, educational guidance and community integration.

This included one-to-one support, follow-up sessions and structured systems for ongoing engagement.

iERA Europe maintained a consistent and costeffective approach, combining public engagement, volunteer development and structured support to deliver meaningful educational impact across the region.

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A PERSONAL JOURNEY OF LEARNING AND COMMUNITY SUPPORT

David was raised in an abrahamic faith household, where faith and tradition played an important role in his upbringing. While actively engaged in religious practices, he had ongoing questions about key theological concepts and the broader purpose of life.

During his time in higher education, David encountered Muslim peers and began engaging in open discussions about religion. These conversations, alongside indepen- dent reading of the Qur’an, led him to reflect on the similarities between Islam and his own background, particularly in relation to monotheism, prayer and ethical living.

As his understanding developed, David found that Islam provided clarity on questions he had been exploring for many years. After a period of reflection, he made the decision to embrace Islam, describing it as a considered and informed choice.

Following this transition, David sought further guidance on how to practise his faith. Through participation in structured educational programmes, including a residential retreat, he was able to build on his knowledge, develop practical skills and connect with a supportive community.

David’s experience highlights the importance of ongoing education and community support for individuals at the early stages of their journey, as well as the role of respectful dialogue in fostering understanding across different faith backgrounds.

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JULY 2024 - JUNE 2025

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During this reporting period, iERA Canada delivered a broad range of community events and educational activities across the country. A total of 150 individuals embraced Islam, with 176 new Muslims receiving structured support.

KEY OUTPUTS

OUTREACH AND ENGAGEMENT

Public engagement remained a central focus, with 292 street outreach activities conducted throughout the year.

These were supported by 5 exhibitions and 10 public talks, helping to provide accessible information about Islam and encourage open, respectful dialogue across diverse communities.

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TRAINING AND VOLUNTEERS

A strong emphasis was placed on developing a sustainable outreach network:

Seasonal planning supported this growth, with outreach prioritised during peak periods and winter months focused on training, mentoring and strengthening internal systems.

NEW MUSLIM SUPPORT

iERA Canada supported 176 new Muslims through structured programmes, including mentoring and foundational education. In addition, 180 individuals were taught core practices such as daily prayer and purification, helping to ensure confidence in early-stage religious practice.

The Canada programme combines consistent public engagement, volunteer development and new Muslim support to develop on each year’s progress. This model has strengthened capacity and positioned the programme for continued, sustainable growth.

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JULY 2024 - JUNE 2025

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During this period, iERA’s work across Africa experienced substantial growth in its religious education and outreach activities. A total of 197,106 individuals formally embraced Islam and 129,972 new Muslims received structured support to help them begin practising their faith.

A key operational development was the implementation of a new and updated accounting system, which significantly improved financial management. This strengthened long-term data management, simplified reporting processes and supported transparency and accountability.

In addition, iERA expanded its digital outreach through the launch of the Da’wah Legacies Podcast. This initiative aims to share experiences of people involved in da’wah efforts – inviting others to learn about Islam to engage audiences and raise awareness of what’s possible for communities as a result of this work.

During the reporting period:

48 episodes were produced The podcast achieved approximately 30,000+ views

Content was broadcast via local media platforms including television in Malawi and delivered in multiple languages

Recordings took place across several countries, including Malawi, Rwanda and Uganda, featuring recognised speakers and practitioners.

Episodes were produced in English, Chichewa and Urdu, enabling engagement with both local and international audiences.

The podcast has contributed to documenting global outreach experiences and increasing awareness of iERA’s mission.

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CASE STUDY

A MOMENT OF REFLECTION AND ONGOING EXPLORATION

During a public outreach activity, the iERA team engaged in a discussion with a young preacher whose first name has been withheld for privacy.

The conversation focused on key theological concepts, including the oneness of God and the role of prophets, with particular attention given to the figure of Jesus. He demonstrated a strong interest in the discussion, openly expressing areas of uncertainty and reflecting on beliefs he had previously held.

As the conversation developed, he acknowledged that this was the first time he had encountered a clear and structured explanation of these topics.

The outreach team presented Islamic beliefs in a respectful and accessible manner, encouraging open dialogue and reflection. He responded positively, noting that the discussion had provided a new perspective and prompted deeper consideration of his beliefs.

Although he was not ready to make an immediate decision, he expressed a desire to take time to reflect further. In response, the team ensured he was connected to a local place of worship where he could access additional information and support if he wished to continue his exploration.

This case illustrates the value of patient engagement, respectful discussion and the importance of providing ongoing pathways for individuals who are exploring faith.

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CASE STUDY

EXPLORING FAITH THROUGH EDUCATION

Nathan, from a Christian background, first developed an interest in Islam after attending a graduation ceremony at a local mosque as a non muslim . Observing young students confidently reciting passages from the Qur’an, he was particularly struck by their discipline and the emphasis placed on learning and education from an early age.

During the event, Nathan spoke with a member of the outreach team and shared his admiration for the structured approach to faith and education he had witnessed. This initial conversation led to an invitation to learn more about Islam in a supportive and open environment.

Over time, Nathan engaged in a series of discussions covering the foundational beliefs of Islam, including the concept of one God, the role of prophets and the importance of scripture. He was especially drawn to the clarity and simplicity of the teachings, as well as the emphasis on values such as compassion, justice and personal responsibility.

While initially cautious about making a formal commitment, Nathan chose to continue learning at his own pace. With ongoing support and access to educational resources, he eventually made an informed decision to embrace Islam.

This case highlights the importance of accessible education, respectful dialogue and allowing individuals the time and space to explore faith thoughtfully and independently.

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JULY 2024 - JUNE 2025

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Across eight countries in Latin America, iERA facilitated 2,719 individuals embracing Islam and provided support to 2,231 new Muslims. This work was delivered through the coordinated efforts of 23 trained outreach specialists and 199 volunteers.

A key strategic focus during this period was the development and evaluation of outreach approaches in rural settings. These initiatives aimed to identify effective and sustainable ways to engage communities who had very little direct engagement with Islam. Programmes were delivered in line with ethical outreach guidelines, ensuring cultural sensitivity with a localised approach to facilitate informed choices. The objectives included:

In parallel, the team assessed the potential to expand this model into additional countries, considering factors such as local context, resource availability and community openness.

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MEXICO
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PARAGUAY
LOCALISED SALAH WORKSHOPS
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ADDITIONAL REGIONAL ACTIVITIES

Alongside rural initiatives, outreach in urban areas remained active.

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Volunteers organised:

One of the most notable outcomes has been the development of strong local new Muslim communities. Many individuals who embraced Islam have gone on to actively participate in outreach and support others in their communities. This has contributed to a growing, self-sustaining network that fosters inclusion, learning and mutual support.

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JULY 2024 - JUNE 2025

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During this reporting period, iERA’s outreach and education activities across Asia & Oceania reached over 24,559 individuals, with 1,740 people embracing Islam (Shahada) and 794 new Muslims receiving ongoing support.

KEY OUTPUTS

PROGRAMME DELIVERY AND PARTNERSHIPS

The New Zealand team delivered 51 major projects, including outreach tours across New Zealand, Fiji, Vanuatu and Australia. While volunteers are also present in Papua New Guinea, Tonga and Samoa, these locations are planned for future in-person engagement.

During the year:

These collaborations provided teaching facilities, help with programme delivery and support with educational and outreach objectives. Key regional partners included national Muslim organisations, whose support contributed to the sustainability of activities. Notably, the New Zealand team was able to operate its outreach work locally without reliance on overseas funding.

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INTERNATIONAL RETREAT

An international outreach retreat was hosted in Fiji, bringing together participants from eight countries and welcoming over 120 attendees.

The three-day programme focused on:

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COMMUNITY ENGAGEMENT THROUGH EVENTS

iERA participated in the FANCA Football Tournament in Fiji, a large community event attended by participants from multiple countries, including Fiji, New Zealand, Australia, Canada and the United States.

At this event:

Outreach information stands were set up around the stadium Free educational materials about Islam were distributed

Basic outreach training was delivered to attendees

12 individuals embraced Islam and

over 400 people received introductory dawah training

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PUBLIC ENGAGEMENT AND AWARENESS

The team also contributed to community events featuring well-known public figures, helping to broaden engagement and awareness.

These events included school visits and public programmes that provided opportunities to share information about Islam in an accessible and positive environment.

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FINANCIAL REVIEW

GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

RESERVES POLICY

The Trustees have set a reserves policy of £600,000, which covers two months’ worth of commitments.

PRINCIPAL FUNDING SOURCE

The overwhelming majority of funds are raised through individual public donations, facilitated through a range of activities, including community events, direct mail, emails and social media. The trustees are satisfied that the fundraising objectives have been met, as highlighted in the achievements and performance section above.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

Islamic Education & Research Academy (IERA) is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 23/06/2009.

TRUSTEE RECRUITMENT & INDUCTION

iERA’s Board of Trustees ensures that its members are appointed based on alignment with the charity’s vision, objectives and expertise relevant to advancing its charitable purposes. The minimum number of trustees is three, with a maximum of six to maintain effective governance and oversight. Potential trustees are identified through discussions at board meetings and selection is made by majority vote.

Before appointment, each candidate undergoes an internal risk assessment and provides proof of identity, and completes key compliance forms, including conflict of interest declarations, anti-extremism guidance, criminal declarations and data protection statements. This process ensures compliance with Charity Commission regulations, legal eligibility and alignment with iERA’s ethos.

Upon appointment, trustees receive a formal induction process covering their legal duties, governance policies and responsibilities under charity and company law. The induction equips trustees to understand iERA’s objects, strategy, risk management and financial oversight requirements. Trusteeship is a voluntary role and therefore there is no remuneration for their contributions as Trustees.

ORGANISATIONAL STRUCTURE

The Trustees have delegated the day-to-day management of the Charity to staff. There is a senior management team in place which consists of representatives from each key department and collectively they implement the strategy directed by the Board of Trustees.

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RISK MANAGEMENT

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate our exposure to major risks on an ongoing basis. Our board of trustees is committed to effectively managing risk and understanding their statutory duties. We have complied with the Charity Commission’s guidance on risk management.

We identify and assess risks by following a well-defined process, which includes:

The areas of risk that we focus on include the Charity Commission’s recommendations:

The process of identifying risks involves understanding that risks are any event that can potentially harm the Charity and its objectives. The methodology we have adopted to identify risk is brainstorming, asking the right questions, consulting stakeholders, inter-charity information sharing, and creating a risk culture within the organisation by training and educating staff at our headquarters and worldwide on risk management. All staff, subcontractors and key volunteers are responsible for encouraging good risk management practice within their domains. This process is formalised through the Risk Management Group (RMG).

We have a risk management policy and procedure, signed off by the board of trustees. Part of the process involves the regular use of our risk management register. All major risks are recorded and assessed in the register and discussed by the RMG, with highlevel risks signed off and approved by the board of trustees.

From time to time, the use of external consultants is necessary, reflecting a potential risk to iERA.

All risks have associated mitigation actions that aim to lower the likelihood of occurrence and/or lower the impact if the risk were to materialise. Our personnel, the board of trustees and members of the RMG all have specific responsibilities in ensuring effective risk management.

FUNDRAISING

The Trustees have read the guidance by the Charities Commission on the use of fundraisers and comply with it.

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also the directors of the Charity for the purposes 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).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees’ Report is approved has confirmed that:

iERA Annual Report 2024-2025 4 3

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

AUDITORS

The auditors, Amex Associates Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 29 APRIL 202 6 and signed on their behalf by:

…………………………….............................................

Saqib SATTAR (Trustee)

4 4 iERA Annual Report 2024-2025

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA)

Opinion

We have audited the financial statements of Islamic Education & Research Academy (IERA) (the 'charitable company') for the year ended 30 June 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of 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 Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to 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 concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 45

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. 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 performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 46

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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 influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Page 47

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state 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 the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

.................................................... B Alvi (Senior Statutory Auditor)

for and on behalf of Amex Associates Limited

Chartered Certified Accountants Statutory Auditors

1st Floor 144-146 East Barnet Road Barnet London EN4 8RD

30 April 2026 Date: ................................................

Amex Associates Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 48

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2025

Note
Income from:
Donations and legacies
2
Total income
Expenditure on:
Raising funds
3
Charitable activities
4
Governance costs
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
3,191,052
3,191,052
537,008
2,903,043
10,750
3,450,801
(259,749)
1,685,242
(259,749)
1,425,493		 Total
funds
2025
£
3,191,052
3,191,052
537,008
2,903,043
10,750
3,450,801
(259,749)
1,685,242
(259,749)
1,425,493		 Total
funds
2024
£
3,500,991
3,500,991
604,764
3,273,330
12,250
3,890,344
(389,353)
2,074,595
(389,353)
1,685,242

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 52 to 67 form part of these financial statements.

Page 49

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee) REGISTERED NUMBER: 06941044

BALANCE SHEET AS AT 30 JUNE 2025

Note
Fixed assets
Intangible assets
9
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Unrestricted funds
16
Total funds		 51,124
1,265,906
1,317,030
(20,861)		 2025
£
13,865
115,459
129,324
1,296,169
1,425,493
1,425,493
1,425,493
1,425,493
1,425,493		 38,279
1,503,881
1,542,160
(29,945)		 2024
£
18,486
154,541
173,027
1,512,215
1,685,242
1,685,242
1,685,242
1,685,242
1,685,242

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 29 April 2026 and signed on their behalf by:

Page 50

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee) REGISTERED NUMBER: 06941044

BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2025

................................................

Saqib J SATTAR (Trustee)

The notes on pages 52 to 67 form part of these financial statements.

Page 51

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Islamic Education & Research Academy (IERA) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Page 52

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. Accounting policies (continued)

1.3 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

1.4 Intangible assets and amortisation

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The estimated useful lives are as follows:

Computer software - 10 years

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles - 20% on cost
Fixtures and fittings - 20% on cost
Office equipment - 20% on cost

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 53

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. Accounting policies (continued)

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

1.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Page 54

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

2. Income from donations and legacies

Donations
Donations		 Unrestricted
funds
2025
£
3,191,052
Unrestricted
funds
2024
£
3,500,991		 Total
funds
2025
£
3,191,052
Total
funds
2024
£
3,500,991

Page 55

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

3. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2025
£
Marketing, design and advertising costs
259,440
Events and fundraising costs
277,568
Total 2025
537,008
Unrestricted
funds
2024
£
Marketing, design and advertising costs
210,346
Events and fundraising costs
394,418
Total 2024
604,764		 Total
funds
2025
£
259,440
277,568
537,008
Total
funds
2024
£
210,346
394,418
604,764

Page 56

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

4. Analysis of expenditure on charitable activities

Summary by fund type

Outreach Materials & Distribution costs
Education & Training costs
New Muslims Support costs
Other support costs
Total 2025
Outreach Materials & Distribution costs
Education & Training costs
New Muslims Support costs
Other support costs
Total 2024		 Unrestricted
funds
2025
£
149,975
1,195,422
1,063,808
493,838
2,903,043
Unrestricted
funds
2024
£
190,520
1,367,014
1,173,596
542,200
3,273,330		 Total
2025
£
149,975
1,195,422
1,063,808
493,838
2,903,043
Total
2024
£
190,520
1,367,014
1,173,596
542,200
3,273,330

Attributable to activities undertaken directly and support costs (see note 5).

Page 57

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. Analysis of expenditure by activities

Outreach Materials & Distribution costs
Education & Training costs
New Muslims Support costs
Other support cots
Total 2025		 Activities
undertaken
directly
2025
£
71,628
748,889
973,988
-
1,794,505		 Support
costs
2025
£
78,347
446,533
89,820
493,838
1,108,538		 Total
funds
2025
£
149,975
1,195,422
1,063,808
493,838
2,903,043
Outreach Materials & Distribution costs
Education & Training costs
New Muslims Support costs
Other support cots
Total 2024		 Activities
undertaken
directly
2024
£
141,700
832,742
1,122,025
-
2,096,467		 Support
costs
2024
£
48,820
534,272
51,571
542,200
1,176,863		 Total
funds
2024
£
190,520
1,367,014
1,173,596
542,200
3,273,330

Page 58

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation and amortisation
IT and media costs
Travel, subsistence and motor
costs
Other professional and financial
costs
Printing, postage and stationery
Telephone
Hire of equipment
Accountancy fee
Rent and rates
Repairs and renewals
Cleaning and laundry
Insurance
Bad debts
Total 2025		 Outreach
Materials &
Distribution
2025
£
29,975
-
-
-
1,235
29,616
525
-
-
15,865
1,004
127
-
-
78,347		 Education &
Training
2025
£
128,783
43,831
-
-
185,251
14,028
3,871
1,365
2,831
56,715
6,742
3,116
-
-
446,533		 New
Muslims
Support
2025
£
-
-
-
-
88,815
863
-
-
-
142
-
-
-
-
89,820		 Other
Support
Costs
2025
£
217,191
29,429
109,211
18,518
44,226
4,504
3,426
310
21,095
32,376
-
1,462
5,995
6,095
493,838		 Total
funds
2025
£
375,949
73,260
109,211
18,518
319,527
49,011
7,822
1,675
23,926
105,098
7,746
4,705
5,995
6,095
1,108,538

Page 59

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
Depreciation
IT and media costs
Travel, subsistence and motor
costs
Other professional and financial
costs
Printing, postage and stationery
Telephone
Hire of vehicles and equipment
Accountancy fee
Rent and rates
Repairs and renewals
Cleaning and laundry
Insurance
Bad debts
Total 2024		 Outreach
Materials &
Distribution
2024
£
27,195
-
-
-
-
7,712
420
280
-
12,397
699
117
-
-
48,820		 Education &
Training
2024
New Muslims
Support
2024
£
£
67,039
-
40,681
-
1,316
-
-
-
363,292
2,262
8,631
903
8,520
63
2,993
-
2,674
-
25,076
47,351
7,205
262
5,554
730
1,291
-
-
-
534,272
51,571		 Other
Support
Costs
2024
£
307,939
23,091
111,098
29,436
5,178
12,621
2,163
468
11,091
51,413
3,076
1,729
6,816
(23,919)
542,200		 Total
funds
2024
£
402,173
63,772
112,414
29,436
370,732
29,867
11,166
3,741
13,765
136,237
11,242
8,130
8,107
(23,919)
1,176,863

Other support costs include all expenditure that is neither related to raising funds for the charity nor part of its expenditure that is directly attributable between charitable activities.

Page 60

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

6. Governance costs

Auditor's remuneration
Auditor's fee - non-audit services
Total 2025
Auditor's remuneration
Auditor's fee - non-audit services
Total 2024		 Unrestricted
funds
2025
£
7,500
3,250
10,750
Unrestricted
funds
2024
£
7,500
4,750
12,250		 Total
funds
2025
£
7,500
3,250
10,750
Total
funds
2024
£
7,500
4,750
12,250

Page 61

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

7. Staff costs

Wages and salaries
National insurance
Pension contributions		 2025
£
344,627
28,049
3,273
375,949		 2024
£
365,775
32,356
4,042
402,173

The average number of persons employed by the Charity during the year was as follows:

2025 2024
No. No.
Management and admin staff 9 11

Volunteers are essential part of the work of the organisation. Volunteers decrease the burden upon paid staff. They give up their free time, to reduce the costs for IERA and carry out project management, administrative and operational activities. The number of volunteer hours used by IERA amounted to 30,328 hours (2024 - 31,250 hours) during the year ended 30 June 2025.

No employee received remuneration amounting to more than £60,000 in either year.

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 30 June 2025, expenses totalling £ NIL were reimbursed or paid directly to the Trustee (2024 - £NIL ).

Page 62

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
9.
Intangible assets
Cost
At 1 July 2024
At 30 June 2025
Amortisation
At 1 July 2024
Charge for the year
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024		 Computer
software
£
46,212
46,212
27,726
4,621
32,347
13,865
18,486

Page 63

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

(A Company Limited by Guarantee)

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

10. Tangible fixed assets

Cost or valuation
At 1 July 2024
Additions
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024
Debtors
Due within one year
Prepayments and accrued income		 Motor
vehicles
£
207,873
24,773
232,646
103,511
44,465
147,976
84,670
104,362		 Fixtures and
fittings
£
15,334
-
15,334
10,454
1,419
11,873
3,461
4,880		 Office
equipment
£
149,225
4,784
154,009
103,926
22,755
126,681
27,328
45,299
2025
£
51,124		 Total
£
372,432
29,557
401,989
217,891
68,639
286,530
115,459
154,541
2024
£
38,279
51,124 38,279

11. Debtors

Page 64

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

12. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Pension payable
Accruals and deferred income		 2025
£
3,587
5,036
988
11,250
20,861		 2024
£
(244)
7,143
946
22,100
29,945

13. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

14. Related party transactions

During the year, the charity paid fundraising and consultancy fees of £61,530 (2024 - £55,921) to Green's Secret Limited, a company related by virtue of common control by one of the trustees. There was no outstanding balance as at 30 June 2025 (2024 - £NIL).

During the year, the charity paid fundraising and consultancy fees of £72,000 (2024 - £74,400) to Skills Seekers Limited, a company related by virtue of common control by one of the trustees. There was no outstanding balance as at 30 June 2025 (2024 - £NIL).

This is in accordance with Article 5.3 of the Charities Governing Document which permits payments for services to be made to a trustees/ directors, where they can be justified and are not available elsewhere. The Board detemined that there was no one else available, better suited to provide services and they represented value for money. The trustee's services have provided extraordinary value to the charity, not available through any other means.

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard (FRS102).

Page 65

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
115,459
Intangible fixed assets
13,865
Current assets
1,317,030
Creditors due within one year
(20,861)
Total
1,425,493		 Total
funds
2025
£
115,459
13,865
1,317,030
(20,861)
1,425,493

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
154,541
18,486
1,542,160
(29,945)
1,685,242		 Total
funds
2024
£
154,541
18,486
1,542,160
(29,945)
1,685,242

Page 66

Docusign Envelope ID: F09012B4-55F5-8227-82B0-9FEE9AF0E2E9

ISLAMIC EDUCATION & RESEARCH ACADEMY (IERA) (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

16.
Statement of funds
Statement of funds - current year
Unrestricted funds
General Funds - all funds
Statement of funds - prior year
Unrestricted funds
General Funds - all funds		 Balance at 1
July 2024
£
1,685,242
Balance at
1 July 2023
£
2,074,595		 Income
£
3,191,052
Income
£
3,500,991		 Expenditure
£
(3,450,801)
Expenditure
£
(3,890,344)		 Balance at
30 June
2025
£
1,425,493
Balance at
30 June
2024
£
1,685,242

Page 67