Registered Charity number 1138949 The Safera Foundation Trustees, Report and Accounts 31 October 2025
The Safera Foundation Charity Infomiation Trustees Mr Fakhruddin T Sulerwall- Mrs Sakina F Sulerwalla Mrs Razia R Chinchanwala Mrs Femida Mosajee Mr Salim F Suterwalla Audttors Ward Divecha Ltd Chartered Accountants and Slatulory Auditors 29 Welbeck street London W1G8DA Bankers Habib Bank AG Zurith sn High Streel Southall Middlesex UB1 3HA Charlty address 6 Ingleby Drive Harrow on the Hil Middlesex HA1 3LE Registered Charlty number 1138949
The Safera Foundation The Report of the Trustees for the year ended 31 October 2025 The Iruslees present their annual report and accounts for the year ended 31 October 2025. Financial performan¢e is In line with expected retums and risk profiles. The foundation has sufficient resources lo meet all foreeasl expenditures and commitments. The trustees will endeavour lo ensure strategies support stability, and continuity of an in¢ome stream enabling contsnuation of our aclivilies. The Iruslees also acknowledge the continued support of the foundation's bankers, who have assisted in facililalin9 ils proiecls. The Members of the Board of Trustees of the Charlty durlng the year were:. Mr Fakttruddin T Sulerwalla Mrs Sakina F Sulerwalla Mrs Razia R Chinehanwala Mrs Femida Mosaiee Mr Salim F SUlealIa Achievement and pertormance All commitments have been met and we are pleased lo see continued progress in many focus areas. -The confliel in the Middle East highlights Ihe cultural clashes within society and enhances our commitment lo improving understanding of the Islamic identity. -The Sufi leslival was successfully hosted in July, which fostered a strong sense of inclusivity, love, faith, and family within the ¢ommunity. -Shukre11 Lahi has grown further in Canada and has supported education for over 2,000 scholars in different regions. -we have also continued our engagement wth the Salaam Centre in Harrow and remain optimistic about achieving full ulilisatson ol ils facilities in the coming year. -we will be supporting the Al Haidgry Charitable Tnjsl further in offering ba$1¢ resource support in rural India. and aim lo collaborat8 on a signrfieanl children's education proje¢l during Ihe year. Structure. Govern•n¢• and Managem•nt ovemin document The charity Is cor¢lrolled by its goveming document, a deed of Iru$l. and constitutes an unincorporated charib The decisions ale made by trustees who are permanent members of the boafd. k Poli The Trustees have examined the major strategic and operats'onal risks which the ¢harity faces and confirm that Systems have been established to mi119ale these fisks. The Tru51ees review these systems and controls on an ongoing basis. Investmen The trustees lo invest the foundation's funds and authorize stsndard'investment powers" to a properly regulated financial institution. l investments must take due consideration of the foundation's balancing requirements of ¢apitsl growth and liquidity. Investment performance must be reported to trustees in a limety and regular manner with benchmark performance comparison. Banking relationships should only be held wth major financial instituth)ns who are able to propedy advise on appropriate investment policy. All investments should consider riskj reward parameters and diversification Strategies appropnale to the foundation. Charlty's maln objettfvos and activities The obieelive of the charity continued to be that of making grants and partnenng with other deserving eharitsble organisalions and individuals. The charity has acquired financial instruments through LGT Bank Isingapofel Ltd to generate income to support annual giving programs.
Tho Sahfa Foundation Th• R•port ol th• Trute•4 l¢y th• y••f •nd•d 31 Octob•i 2025 Forwrd Provisions We contsnuously seek bettfrr rk profiled inve$tsnents and are hopefvl that morket tu011 will not impact investsnenl reluins. Tranuctlon• •nd Ilnancl•l pwlllon The receipts and payments accounts are sel ¢yJt on page8 7 to 13. These are prepared in accordance with the guidance ar4J fomiat PfovKled by the Chanty Cornmissn for Engknd and wes. R•latlon•hlp wlth oth•r grou. ch•rl•¥ •nd Indfvldu•l• The Charity maintains go¢xJ w)rking relatK)ns other registered Charrt. St•t•m•rt 01 TnMt••'8 RMpon•lbllltl• Thè tNst••s are responwble for preparin9 the Report of the Tnt0•6 the finan¢kg1 statements in acc(ITd¥n¢e vrilh applicable law and re9ulab"ons. The law applicable lo chafitie5 In Eryland & Tequires the trustees lo prepare fin•wal statsments for aach finan¢ial year in accordance United Kingdom Generalty Acwlled Accounting Practice Iunrted Kingdom Accounting Standards and applicable l•wl. The trustees musl not approve the financial 5ts1emenl$ unkss they a saSf that they give a true and fair ol the slate of affairs of the charity nd of the incoming resources and appIalKin of the resources. Induding the 1me and expenditure. ol th• chanty for that wrKXI. . select suit•ble Kcountiry pok8 and then appty them nsIstenty. . observe th8 methods and princsplgs in the Chanty SORP,. - make iudgements ? a¢counts'ng estimat¢s that are reasonable and pnent." - stale whether applicab UK Accounting Standards have been folhyAryd, subject to ¥ny matersal departures di8dosod and eXained in th• firlvncial stal•m•nts. - prepare the fin•n¢ial 8tslements on the going concern baws unless it i• in•ppropri•ts to pre8urne that the Charty ill continue in bu8WIOS$. The Iruslees are also reswsible ft>r keew.ry sufficient accounbng records disclose Vith re•sonable accuracy al any time the financial ptssts'on of the charty. and enable them to ensure that Ihe financial ststements compty wrth Charibes Act 2011 the Chanty IAc¢ounts and Reports) Reoulats'cs 2008 and the provisions of the trust deed. They are also fe¥onsit>le tor safeguarding ihe assels of the charty arKI hence lof taking reasonable steps for the pre¥entth WKI detecti of fraud and other irrryul•rrtKIs. Approved ty order of tr t)•rd ol trustees on 3113r21Y26 and $wned on ils beh•N by.. MfF Trust•• r11
INDEPENDENT AUDITOR'S REPORT To the Membars of The Safera Foundation We have audited the financial stslements of The Safera Foundation {the "charity'l for the year ended 31 October 2025 which comprise the Slatemenl of Financial Activitie5. Balance Sheet and notes lo the financial slalemenls, including a summary of signihcanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards , includin9 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounbng Praclicel. This report is made solely lo the charty's Iruslees. as a body, in aceordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might slate to the charity's trustees those matters we are required lo stale lo them in an auditors. report and for no other purpose. To the fullest extent pem)ittefJ by law, we do not accept or assume responsibility lo anyone other than the eharity and the charity's trustees as a body. for our audit work, for this report, or for the opinions we have fomied. Respectivg responslbiliti•s ol Tru$lg•s and auditors As explained more fully In the Slalemenl of Trustees Responsibilit*s set out on page 3. the Iruslee$ are responsible lor the prepalalion of the financial slalements which give a true and fair view. We have been appointed as auditors under Section 144 of the Charilies Act 2011 and report in accordance with regulations made under Section 154 of that Act. Our responsibility 15 to audit and expfess an opinion on the finan¢ial slalements in a¢dance with applicable law and International Standards on Auditing IUK and Iretandl. TIK)se standards require us lo comply with the Auditing Practices Board's Eihical Standards for Auditors. In our opinion the financial slatemenls. give a true and fair view of the Stale of the charws affairs as at 31 October 2025 and of ils incoming resources and application of iesources lor the year then ended.. have been Pfoperly prepared in accordance th United Kingdom Generally Accepted Accounting Prath'ce.. - have been piepared in accoTdan¢e wth the requirements of the Chanb'es Act 2011. B85is for opinion We conducted our audit in accordance with International Standards on Auditin9 IUKI IISAS IUKII and applicable law. Our fesponsibililies under those standards are further deseribed in the Audilorfs responsibilities under those standards are lurther described in the Audiloi's responsibilities for the audit of the financial statements section of our report. We are independent of the chanty in accordance with the ethical requiremen15 that are rdevanl lo our audil of the financial slalernenls in the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our ethical iesponsibililies in accordance with these requirements. We bglieve that the audit evidence we have obtained is suificienl and ¥pfopriale lo provide a basis foi our opinion. Conclu81ons r•latlng to g0Sng concern We have nothing to report in respect of the follIng matters in relation lo vthich the ISAS IUKI require us lo report lo you vthere". - the Iruslees. use of the going ¢oncem basi¥ of aoUntIng in the PTeparalion of the financial 5tatement$ 1$ not appropiiale". or the trustees have not disclosed in Ihe financial stslements any identffied material uncertainties that may casl significant doubl about the chairty's abilrty lo continue to adopt the going concem basis of a¢¢ounling for a perio(1 of al least ts%tlve months from the date vknen the financial statements are authoriged for issue.
INDEPENDENT AUDITOR'S REPORT To the Members of The Safgra Foundation Other information The trustees are responsible for the other information. The other infomalion comprises the information included in the report of the trustees other than the finaneial slalements and our auditor's report Ihereon. Our opinion on the financial slalemenls does not cover the other information and, except lo the extent otherwise explicitly slated In our report, we do not express any fomi of assurance conclusion Ihereon. In ¢onnection with our audit of the financial statements. our responsibility 15 to read the other infoTmalion and. in doing so, consider whether the otheT information is material inconsislenl with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material in¢onsislencies or appafenl material misslatemenls. we are required to determine whether there is a material misslalement in the financial slalemenls or a material misslalemenl of the other information. If. based on the work we have performed, we conclLKie that there is a malerial misslalement ol this other information, we are required lo report that f¥1. We have nothing lo report in thi5 regard. Matters on which wo aro required to report by oxc•ptlon We have nothing to report in respect of the I10.n9 matters vthere the Charitses Act 2011 requires us to report lo you If, in our opinion". - the information given in the Report of the TTustee5 is inn$b$tenI in any material re$pe¢t sAilh the financial slalernenls . or sufficient a¢¢ounling records have not been kept". or the financial statements are not in agreement wth the accounting records and relums.. or we have not received all the informalion and explanations wa require for our audit. Responsibilities of ihe tru51ees As explained more fully in Ihe Iruslees. responsibilities slalemenl sel out on page 3, the Iru$lees are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and lor such internal eonlrol as Ihe Iruslees deiemiine is necessary to enable the Pfeparation of financial slalemenls that are free from material misslatemenl. whether due lo Iraud or efror. In preparing the financial slalemen13, the Iruslees are iesponsible lor assessing the charty's ability lo continue as a 99ing concern. disckjsing, as applicable, matters related lo going concern and using the going concern basis of accounting unless Ihe Iruslees either inlend lo liqUale the charity or to cease operations, or have no realistic allemalive but lo do so. Auditor'5 responsibilities for the udll of the finn¢i•l $l*tethtmts Our objeelives are lo obtain reasonable assurance about whether the financial slalemenls a$ a whole are free from material misslalemenl. whether due lo fraud or error, antj lo issue an audilorfs report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit onducted in aceordance with ISAS {UKI will aayS delect a material misslalemenl when It exist$. Misslalemenls can arise from fraud or error and are considered material If. individually or in aggregate, they could reasonably be expected lo influence the economic deeisions of users taken on the basis of these hnaneial slalements. Irregularities, including fraud, are inslances of t)On-CcpIlan¢e with laws and iegLtlalions. We deSn procedures in line with our responsibilities, outlined above. lo delecl material misstslements in respect of irregularities, including fraud. The extent lo which our pr¢)cedures are capable of delecling irregularities, includino fraud 1$ detailed beluw..
INDEPENDENT AUDITOR'S REPORT To thè Members of Tha Safora Foundation Identifying and assessing potential rlsks related to iryularitles A further description of our responsibilities for the audit of the financial slatemenls is available on the Financial Reporting Council's website al www.frc.org.uklauditorsreswnsibilities. This description fom)s part of our auditor's report. In identifying and assessing risks of material misslalemenls in respect of irTegularilies, including fraud and non-compliance and re9ulalions, we considered the lollowing". results ol our enquirie5 of management about their own identification and assessment of the risks and irregularities,. - any matters we identified having ttsined and revwed the charity's doeumenlalion of their policies and procedure5 relating lo". identifying, evaluating and CCpIyln9 wilh laws and re9ulations and whether they were aware of any instances of non-compliance., delecling and responding lo Ihe risks ol fraud and whether they have knowledge of any actual, suspected or alleged fraud., the internal controls established lo mitigate risks of fraud or rPIlanCe wrth laws and regulations., As a result of these prctedures, we ¢¢)nsidered the c¢portunilies and incentives that may exist within the organi5alion for fraud and idenlified that greatest potential for fraud is revenue recognition. In comrnon with all audits under ISA$ (UK), we are also required lo perforyn specthc preIre$ lo respond lo the risk of management override. We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of material amounts and disclosures In the financial slatemenls. The key laws and regulabons we considered in this context inGlude the UK Charities Act 2011. pension legislation and lax *islation. Adil Divecha (Sen oryAu Of) for and on behalf ol Ward Divecha Ltd Chartered Accountants and Stalulory Auditors 29 Welbeck Street London W1G 8DA Dated.. 0110412026
The Safera Foundation Statement of Financial Activities for the year ended 31 October 2025 Registered charity no. 1738949 2025 Total Funds 2024 Totsl Funds Vnr•stri¢ted R•strict•d Funds Funds INCOPIING RESOURCES Inc¢ming resourc•s from 9gn•rated funds Investment Income VuntarY glft received Total incomlng 188.460 60.000 248,460 188.460 60.000 106.126 2.500 110,626 RESOURCES EXPENDED Cost of generating funds Exchang Differenc Interest chargè$ Charitable activities Donation to other charities 10.846 165,398 10,846 165.398 18.113 204,246 78.209 78,209 104,483 Gov•m¥n¢e COBt 12.C61 12.C61 6,787 Totsl re8ourcM •xponded 266.514 266.514 333,629 NET IEXPENDITUREI FOR THE YEAR 118.0641 118,0541 1223,003} oth•r rYognlMd galn• and loss Fair value movements Profit on $•le of Investm•rrt$ 85,715 75.217 85,715 75,217 415.862 10.650 N•t mov•m•nt In fund• 142.878 142,878 203.509 R•¢onclll•don olfund• Total lund• brought for•rd 1,127.086 1.127,086 923.577 Totsl fund• carrlgd forw•rd 1269 964 1 127086
The Safera Foundation Balance Sheet as at 31 O¢tobor 2025 Registered chwity no. 1138949 2025 Total Fund• 20 T•)l•l Fund¥ fund• FvA•d •8••1• FLM•d alut inv•skn•nl 4,397,474 4,397,474 4.724.277 Ctsrr•nt •M•ts Accrued in¢Lvne C•sh •t b•nk and in h8rLI 6.103 33,648 6.103 33.648 73.490 39,751 39.751 116.1145 Cr•dttor*: amounts f•lllng du• wlthln on• yur 13.167.261) 13.167,281) 13,715,238) currnnt Ilknblllll••l 3 127 510 3,127,510 3 597 191 Tot•1 ••••ts IM• curr•nt 1,269,964 1.269,964 1,127.086 N•t a•••ts Fund• UnreBlrK trl•d 1.269,984 1.127.086 T fin•nci•l •l•twnents •pprobvJ ty lh• 8oard of TnJ•t•ts on 31r¥2028 •nd w•rv ¥vJnfyil on rt6 beh by.. in T Sut•rw•la s•r0 F Sth•rwal TnMt••
The Safera Foundation Cash Flow Statement for the year ended 31 October 2025 2025 2024 Notes Cash flov from operatlng activities: Cash generated from operations Interest charges 101,407 1165,3981 133.3111 1204,2461 Net cash provlded by operating a¢llvltles 63,991 237,557 Cash flow¥ from Inve8tSng actlvltloJ: Sale I (Purehasel of investment Interest received Net cash provlded by Invesllng acllvltlos 412,518 188,460 1179.0041 110.625 600.978 68,379 Cash flo from flnanclng a¢tlvltle8: New l(kans in }'e3r l.oan repas'n)enis in >'ear Net cash Iu8ed Snllprovldgd by flnan¢lng actlvltle8 254,795 547.894 547.894 254,795 Change In ca$h and cash •qui¥alents In the reportlng p•rlod (10,907) 151,1411 Cash and cash equlvalents at th• beglnnlng of the reporting period 44,555 Cash and cash equlvalents at th• end of the reportlng perlod
The Safera Foundation Notes to the cash flow statemont for the year ended 31 October 2025 I RECONCILIATION OF IEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Ngt Incomol l expenditure) lor the reporting period las r the statement of finan¢lal a¢tlvltie51 Adjustments for: IGainl/ Loss on revaluation of investment Finance cost Finance income Decrease in other debtors (Decreasell Increase in other credrtor 142,878 203,509 185.7151 165.398 1188.4601 67.387 81 1415,8621 204,246 1110,6261 86,662 1,240 Net cash provldtrd by op•rating actlvttles 101,407 33,311 2 CASH AND CASH EQUIVALENTS The amounts disclosed on the Cash Flow Stalemenl in respect of cash and cash eqUivanIs are in r95pe¢l of these Balance Sheet amounts.. Y•ar ended 31 Octob•f 2025 31.10.25 1.11.24 Cash and cash equivalents 33.648 44,555 Year ended 31 October 2024 31.10.24 1.11.23 Cash and cash equivalents 95,696 10
The Saf¢ra Foundation Notes to the Accounts for the year ended 31 October 2025 1 Accounting pollcles The financial statements have been prepared in accordance %wth 'Accounting and Reporting by Charities." Slalement of Recommended Practice applicable lo charrties preparing their accounts In accordance with the Financial Reporting Standard aPpIable in the UK and Republic of Ifeland IFRS 1021 (Second Edilionl. and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Aceepled Practice as it applw from 1 JanLbary 2015. The functional ¢Ufrency of Ihe charity is US Dollar bul Ihe presentation currency is GBP Pounds. 1.1 Incomlng R•sourcès All incoming resources are included on the statement of Financial AClivrtS when Ihe chaiity is legally enlilled lo the incomg and the amount can be quantrfied wrth reasonable a¢curacy. Voluntary income 15 receive(I by way of grants. donations and grfts and is Included in full in the slalement of Financial Activities when receivable. Coupon Interest re1ved Of receivab is also included in the financial 3t8lement of Financial Activrties when receivable. 1.2 RourCeS •xpend•d Expenditure is accounted lor on an accruals ba$1$ and has been classrfied under headings that aggregate all cost related lo the category. Where costs cannol be directly attributed lo particula¥ headin9s they have been allocated to aclivrts on a basis consistent wth the use of re50UfCOS. 1.3 Taxatlon The charrty 1$ exempl from tax on its charitable aclmtses. 1.4 Investment Incomè Coupon interesl is included in the SOFA net of Collectfi eharges on a receNable basis. 1.5 Fund accountlng Unreslricled funds can an be used in accordance with the charitable objectives al the discretion ol Ihg Iruslees. 1.6 Flxèd Asset Inv•stment Finan¢ial instruments such a5 Strudure<l noles, bonds and fLrtures contracts generatè income from both inlere$l coupons and asset price revalualion. Amounts booked lo the profil and loss account include coupon Irom purchase dale as well as the current mathet prv revalUatn differential. 1.7 Foreign Currencies Monetary asset5 and Ibabilth'es denominated in foreKJn Currenc are translated into steding al the rates of exchange ruling al the balance sheet d8te. Transactions in foreign currencE$ are Iranslaled into sterling al Ihe re of exchange ruling al the dale of Iransacti¢)n or average exchange rate. Exchange drfferences are taken into account In afrivino al the oDeTatirkQ resum$. 1.8 Flnanclal Instrumonts The company has elected lo apply the proisKJns of Section 11 Basic Financial Instruments. and SeCtn 12 '01her Financial Instruments Issues. of FRS 102 to all ol lis financ1 instruments. Financial in are recognised in the companls batance sheet when the company becomes party lo the contractual ProvisnS of the instrument. Financial assets SLtr¢h as investment, cash and debt5 are measured at the present value of the amounts receivable, less an allowance for the expected level of doubtlul reCeiVaes.
The Safera Foundation Notes to the Accounts for the yeaf ended 31 October 2025 Im alm7ent of finan¢lal assets Financial assets. other than those held at fail value through profrt and 105s, are assessed for indicator5 of impairment al each Teporting end date. Financi81 assets are impaired where there is otyective evidence that, as a result of one or mole events that occurred after the Inilial recognition of the financial asset. the eslimaled future cash flows have been affected. If an asset is impaired. the impaimienl loss is the drfference beNveen Ihe carrying amount and the present value of the estimated cash flows discounted at Ihe asset's original effe¢lve interest rate. The impairment los$ is re¢4n1Sed in profrt or kJ$s. If there is a decrease in the impairment loss arising from an event occurring after the impairment was reeognised, the impaimenl is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amounl would have been, had the Impaimienl not prevKiusty been recognised. The impairment reversal is recognised in profrt or loss. Flnancial li es such as trade credrtors. loans and finance leases are measured al the present value Cf the obligation An equity instrument Is any contract that evidence$ a resbdual interest in the assets of the company after deducting all of rts liabilrties. 2 Trustè•s' remungratlon and ben•ffts There were no Iru$lees' remuneration or other beneffts for the year ended 31 October 2025 nor for the year ended 31 October 2024. Tru5tees' expenses There were no Iruslees, expenses paid for the year ended 31 October 2025 nor for the year ended 31 October 2024. 3 Flxod Asset Inv•stment 2025 2024 Equty and bonds 4.397.474 4.397.474 4.724,277 4,724.277 ITh8 value staled above is Ma0t value a131 October 2025.1 4 Credltors: amounts falllng due wtthln one year 2025 2024 Bank Loan Accruals 3,165,261 2.000 3,167,261 3,713,155 2.081 3,71 5,236 IB8nk loan is secured aInst the investments held by the ¢harty.I 12
The Safera Foundatlon Note5 to the Accounts for the year ended 31 October 2025 5 In¢oming R•sourc8s Unrestricted Funds 2025 R•strl¢ted Funds 202S Total Fund$ 2025 Total Funds 2024 Invèstmènt Income Interest Income Voluntary gift received Totsl Inv•stm&nt In¢om• 188,460 60 000 248,460 188,460 60 000 248 460 108,126 2,500 110.626 Profil on sale of investments Total incoming r•sourc•s 75 217 7S,217 75.217 75,217 10,650 10.650 6 Resourc•s •xpn$•d Unr•strlct•d R¢stricted Funds Funds 2025 2025 Totsl Funds 2025 Total Funds 2024 C1 of gen•ratlng funds Exchange difference Interest charges 10.846 165.398 176.244 10,846 165.398 176.244 18,113 204,246 222,359 Charitable o¢tivltl•$ Donation to other charitse¥ 78.209 78,209 78.209 78,209 104,483 104,483 Go¥ornan¢• ¢o#t Bank Charges Auditor$' remuneration Broker lee 4,426 2,000 5,635 12.061 4,426 2.000 5.635 12,061 4,787 2,000 6,787 13