Charity regists'alion nLimber.' 1146363 Al - Mahdi Foundation Anriual keport and Fin￿nCIal Statements for the Year Ended 31 March 2024 Al - Mahdi Foundation Contents (continued) Refer¢nce and Administrative Details TnEstees' Report 2to3 Staternent of Trustees, Responsibilities Illdepeudent Examiner's Report Statement of Financial Activities Balance Sb¢et Notes to the Financial Statements 8t016 Al- Mahdi Foundati021 Reference and Administrative Details Trustees Mr B Ahmed MrNAIi Mr K Hussain Secretary MT B Ahmed Charity Reglstr8tion Number 1146363 Principal Office St. Johtt Works Fern Str¢et Bury BL9 5BP Independent Examiner Mr M Salim M Salim & Co. 51 Lord Street lancbester fvt3 IHE AJ - Mahdi Foundation Trustees, Report The th￿tee5 present the annual report togetELeT With the finanoial statements of the chanty for the year ended 31 March 2024. Objectives and activities Piiblic benefil Activities underdtkett are primarily providing the local public with a place of worship. The trustees confinn that they have complied with the TequÉrements of section 17 of the ChaTlties Act 2011 to have du¢ regard to the public beneflt guidance published by the Cbarity Commission for England and Wales. Structure? governance and management Flnancial instruments Objeellves andpolicies The charity's actAVlties expose it to a nufftber of fllwicial risks illcluding credtt risk, flow ris1< and liquidity Tisk. The use of fmancial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of fmallcial derivatives to rnanage these risks, The Charity does tiot use derivative fmancial instrlllnents for speculative purposes. Ctxyhflow rtsk The charity's activities expose it primarily to the financial risks of changes ID foreigll currency exchange rates and interest rates. The charity uses forei￿ exchancFe fO￿ard contracts and interest rate swap contracts to hedtse these exposures. lllterest bearing assets and liabiliti￿ are held at f￿ed rate to ensure certainty of cash flows. Credit risk Ile ¢l￿lty's principal financial assets are ballk balances and cash, trade and other receivables, and investments, The charity's credit risk is primarily attributable to its trade receivables. The amounts prestnted in the b&lan¢e sh¢et are net of allowances for doubtful receivable5. An allowance for in￿airniellt is made where there is identified loss event whic74 bas¢d on previous eKperi¢nce, is evidence of a reduction in the recoverability of the cash tlows. The credit risk on liquid funds and derivative fmancial instruments is limitsd because the counterparties are banks with high credit-ratings assigned by international Credit-rating agencie.i. The charity has no signiflcant concentration of credit risK with exposure spread over a larg¢ nEunber of coUnte￿artIeS and customers. Llquldlty rfsk In order to maintain liquidity to ensure that sutTicient funds are available for ongoing operations and future developllients, the charity iises a mixture of long-tenn and sbort-term debt finance. Further detatls regarding liquidity risk can b¢ found in the Statement of &ceoiinting poltcies in the f￿ancIal statements. The annual report was approved by the trustees of the charity on 29 JanLtary 2025 and signed on its behalf by: Al - Mahdi Foundation Trustees, Report {COlltinued) Secretary and trustee ussa Trustee Al - Mahdi Foundation Statement of Trustees, Responsibilities The trustees are responsible for preparing the trl￿tees, report and the f￿anCI&l statements in accordance with Èbe United I(ingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and Tegulations. The law applicable to charities requires the trustees to prepare f￿anCIal statements for each fmancial year which give a true and fair view of the state of affairs of th¢ charity and of the incoming resources Ind application of resources of the charity for that period. In preparing these f￿an¢[al stateinents, the trustees are required to: s#lecÉ suitable aCCOLtnting policies and then apply them consistently, observe the netbods and principles ill the Charities SORP. tnake judgements and estimatss tbat are reasonable and prudent" state whether applicable accounting standards hav¢ been followed, subject to any rnaterial departures disclosed and explained in the fjnallcial statements. and prepare the F￿ancial statements on the going concern basis Unless it is inappropriat¢ to pre5uroe tILat the Glwity will continue in business, The trustees are responsible for keeping proper accounting records that disclose with reasonable aecuracy at any time the f￿all¢la1 position of the charity and enable them to ensure that the financial statements comply with tbe Charities Act 2011, the Charlties (Accounts and Reports) Regulations 2008, and the provisions of t￿e constitution. The trustees 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. 'rhe trustees are responsible for tbe maintenance and integcity of the corporate and fjnancial information included on the charitablo company's website. Legislation governing the preparation and disserllinalion of f￿ancIal statements may differ from legislation in otber jurisdictions. Approved by the trustees of the clwity on 29 January 2025 and 8igned on its behalf by: Mr B iibmed Secretary and trnstee Mr K Hussain TrLL8t¢¢ Al - Mahdi FoundatRon Independent Ex&RllRner's Report to the trustees of Al - Mahdi Founclation I report to the tNstees on my exatnination of the accoullts of Al - Mthdi F4oundation for the year ended 31 March 2024. Responsibilltles and basts of report As the eharity trustees of Al - Mahdi Foundation yOLi are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Al - Mahdi Foundation's &¢¢ouTrts caffied out under section 145 of th¢ 2011 Act alld ill carrying out my examination I have followed all the appLi¢able Dire¢tions given by the Charity Commission under section 145(5)(b) of the Act, Independent examlner's statement I have completed rny examination. I confirn) that no m￿terial Jnatters have COLn¢ to my attention in connection with the examination givlng me cause to believe that in any ￿￿t¢rIal respect: l. accowiting Tecords were not kept in respect of Al - Mahdi Foundation as required by section 130 of the 2. the accounts do not accord with those records. or 3. the accoullL8 do not comply with the accounting requiremeThtS Concerning the form and content of accoutsts set out in the Charities (Accounts. and Reports) Regulations 2008 other than any requirenent that th¢ accourLts give a 'true and fair view, which is not a matteT considered as p&rt of an independent examination. I have no concerns <1nd have come across no othei- matters in connection with tlie exaioiiiation to which attention . sh%yuld be drawn in this report in order to enable a proper understanding of the accoullts to be reached. Mr M Sali M Salim & Co. 51 Lord Street Manchester M3 IHE 29 January 2025 Al - Mq¥ bdi Foundation Statement of Fillancial Activities for the Year Ellded 31 March 2024 Unrestrleted funds Total 2024 Note Income and EndoW￿entS from: Donations and legacies Other income 32,326 7,000 32,326 7,000 Total income 39,326 39,326 Expenditure oll: Charitable activities (25,714) 25,714) Total expenditure (25,714 25,7 14) Net income 13.612 13,612 Net movement ill fund8 13,612 13,612 Reconclllatlon of funds Total fimds brought fonyard 258,559 258,559 Total fi￿d8 carried forward 15 272,171 Unrestrficted fullds 272,171 Tot&1 2023 Note Ijicome and Endowments from: Donations al￿ Kegacies Other inc0￿e 38,256 10,920 38256 10,920 Total income 49,176 49,176 Expenditure on: Charitabl¢ activities (31,774) 31.774 Total expenditure (31,774) (31,774 Net illcom¢ 17,402 Net movera¢nt in funds 17,402 17,402 Reeonclllation of funds Total ￿ndS brought forward 241,157 241,157 Total fijnds carried fonvaTd 15 258,559 258,559 All of the charity's activities derive from continuing operations durintr th¢ above two periods. The funds bieakdown for 2023 15 shown in note 15. Tlie notes on pages 8 to 16 t"Dl'ln ali inteoi'al pai'l o F these fiiiancicll st1( leineiit5. Al - Mahdi Foundation (Registration number: 1146363) Balance Sheet as at 31 Mareh 2024 2024 2023 Note Flxed assets Tangible assets 297,143 272,631 Current assets Cash at bank and in hand 12 16,803 40,171 Creditor5: Amounts falling due within one year 13 (1,000 1,000) Net current assets 15,803 39,171 Total asseÉs less current Ilabilltles 312,946 (40,775 272,171 311.,802 Creditors: Amounts falllng due after more than one year 14 53,243 Net assets 258,559 iinds of the charity: Unrestricted income funds Urlrestricted funds 272,171 258,559 Total funds 15 272,171 258,559 The flnancial ststeinents on pages 6 to 16 were appioved by the trustees, and aiithorised for issu¢ on 29 Jauuary 2025 and signed on their behalf by.. secret￿ and trustee Mr K Huss Trn￿tee "rhe notes on patre8 8 to 16 t'orm ali Iiiteoi'?¢ I pai-l of Iliese finaii¢iÉ21 st<2teineiils. Al - Mahdi fi oundation Notes to the Financial Staternents for the Year Ellded 31 M&rcb 2024 l Aecountlllg policles Statement of¢ompli%Ance The finmcial statement5 have been prepared in accordance witb the second edition of the Charittes Statement of Recommended Practice issued in October 2019, the Fillancial Reporting Stalldarcl applicable in tbe UnAted Kingdotn and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Al - Mahdi Foundation meets the definition of a public benefit entity under FRS 102. The accounts (fmancial statetnents) bavg been prepared under the historical cost ¢onvention with items recognised at cost or transaction value unless otherwise *ated in the relevaut note(s) to these accounts. Golng concern The trustee5 consider that there are llo n￿tsTIaL uncertainties about the cbarity's ability to continue as a going concern. llleome and elldowment5 Voluntary income including donations, gifts, legacies and grants that provide core funding OT are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the a￿Ollnt can be measured with sufficient reliability. Expenditure All expenditure is recognised once there is a legal or Loristructive obligation to that expellditt]re, it is probabl¢ settlement is required alld the kmount can be measured reliably. All costs are allocated to the applicable expendtture heading that aggregate similar costs lo that category. Wheie costs cannot be directly attributsd to particular headings they have been allocated on a basis consistent with the use of resources, Ivith central staff costs allocated on the basis of time spenL and depreciation clwges allocated on the portion of the assel s use. Other support costs ar¢ allocated ba3ed on the spread of staff costs. Governance costs These illclude the costs attributable to the charity's compliallce with ¢On8t1￿tIonal and statutory requiremeThts, including aucliL strntegic management and Irust¢¢s meetings and reimbursed expenses. Taxation Tbe charity is considered to pass the tests set out in Paragraph I Sclledule 6 of the Finallce Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax pu)Foses. Accordingly, the charity is potentially exetllpt from taxation in respect of incottLe or Capital gains received witbu] Categories COV¢Ted by Chapter 3 Part I l OF the co￿oration Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to tlw ¢xtent that such illcome or gains are applied exclusiv¢ly to charitsble purposes. Tanulble fixed assets Individiial fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subgequent accumulated itnpairn]ent losses. Al - M&hdi Foundation Notes to tbe Financial Statements for the Year Ended 31 March 2024 (continued) Cash and cash equivalents Cash alld cash equivalents comprise cash on hand and call deposits, and othei short-term higldy liquid investments that ar¢ readily convertible to a l investments are measured at cost less I￿palmIenÈ. Investments in subsidiaries and assoriates are measured at cost Kess I￿pairnIellt. For investments in subsidiaries acquired for consideration including tbe issue of shares qualifying for rner￿er relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Al - Mah(li Foundation Notes to the Financial StateLnents for tbe Year Ended 31 March 2024 (eontRnued) Derlvalfvefmrtnclal Inslri¢ments The charity uses derivalive fmancial instrumeuts to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative fjnancial instrnments for speculative purposes. Derivatives ar¢ initially recognised at fair value at the date a derivative contract is entered into alld are subsequenily remeasured to their fair value at each repOrtll￿ date. The residting gain or 1058 18 recognised in statement of fmancial activities itntnediately iinless the derivative is designated and effective as a hedging instrumenL in which event the tinjing of tbe recogultion in statement of fmancial activities depenés on the nature of the hedge relationship. Falr vffllué measiirement The best evicience of fair value is a quoted price for an identical asset in an active rnarket. When quoted prices are unavailable, the price of a recent LTansaction for an identical asset provides evidence of fair value as long'as there has not been a sigllificant change in economic circurnstances or a signtfiGant lapse of time since the .41 transactlOD took place. If the market is not active and recent transactions of ELll identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation te¢l￿1Que. 2 Income from donatlons and legacies Unrestricted funds General Total funds Reg￿ar giving and capital donations Total for 2024 32,326 32,326 32,326 32,326 Total for 2023 38256 38.256 3 Other Income Unrestricted funds General Total funds Rental income 7,000 7,000 Total for 2024 7,000 7,000 Total for 2023 10,920 10,920 4 Expenditure on eharltable aetivltles Unrestricted funds Genei'al Tot21 funds Note GOvernÉ￿Ce costs 25,714 25,714 Total for 2023 31,774 31,774 Al - Mahdi 14oundiition Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Total expellditure 5 Analysis of governance and support costs Governance costs Ilnrestrlcted funds General Total funds Staff costs Wages and salaries Audit fees Other fees paid to auditors Other governance costs 8,624 8.624 500 16.590 500 16,590 Total for 2024 25,714 Total for 2023 31,774 31,774 6 Net incomingloutgoing resources Net incoming resour¢e8 ft>r the year include: 2024 2023 Surplus excess over expenditUTe 17,402 7 Trustees remuneration and expenses 8 Slaff costs The aggregate payroIl costs were as follows.. 2024 2023 Staff costs diirlng the year were: Wages and sal&ries 8,624 7,600 The monthly aver&ge nlunber of persons (inrluding senior manarjemeut / leadership team) employed by th¢ charity d(￿ing the year expressed as fiill time equivaleuts was as follows.. 2024 2023 Eiiiployees AR - MahilA Foundation Notes to the Fin&neial Slatements for the Year Ended 31 March 2024 (continued) No etnployee received emoluments of more thall £60,000 during the year AI - Mahdi Foundation Notes to the Financial Statements for the Year Ended 31 March 2024 (contillued) 9 Auditors, remuneration 10 Taxatlon The charity is a registered charity alld is therefore exenlpi from taxation. 11 Tangible r￿ed assets Land and building5 Total Cost At I April 2023 Additions 272,631 24,512 272,631 24,512 At 31 March 2024 297,143 297,143 Depreciation At 31 March 2024 Net book value At 31 March 2024 297,143 297,143 At 31 March 2023 272,631 272,631 12 Cgsh and eash equivalents 2024 2023 Casb on hand Cash at bank 2,294 14,509 262 39,909 16,803 40,171 13 Credfitors: Amounts falling due withln one year 2024 2023 AcLI'uals 1,000 1,000 14 Creditors: amounts falling due after one yeAr 2024 2023 Bank103ns 40,775 53,243 AI - Ivlahdi Foundation Notes to the Financial Statements for the Year Ellded 31 March 2024 (continued) 15 Funds Balance at I Aprll 2023 Incoming resources Resources expended Balance at 31 March 2024 Unrestricted funds General 258,559 272,171 Balance at I April 2022 Incoming resources R￿OUrceS expended Balance at 31 Mareh 2023 Unrestrlcted funds General 241,157 49,176 31,774 258,559 16 .An8lysis of net assets between funds Unrestrleted lunds General Total funds at 31 March 2024 Tangible f￿ed assets Current &ssets Current liabilities Creditors over l year 297,143 16,803 (1,000) (40,775 297,143 16,803 (1,000) 40,775 Total llet assets 272 171 272,171 Unrdstricted funds General Total funds at 31 March. 2023 TanEible fixed assets Current assets Current liabilities Creditors over l year 272,631 40,171 (1,000) (53,243 258,559 272,631 40,171 (1,000) 53,243 Total net assets 258,559 17 Analysi5 of net funds At l April 2023 At 31 March 2024 Cash at bank and in Iwid 40,171 40,171 Net debt 40,171 40,171 Al - Mahdi Foundation Notes to tbe Fillancial Statements for the Year Ln(lecl 31 March 2024 (continued) At l April 2022 Financlng cash AÉ 31 March flows 2023 Cash at bank and in kLand 35,092 5,079 40,171 Net debt 35,092 5,079 40,171 18 Related party transactions Al - Mahdi FoundgTrtion Statement of Fin2nciAI Activities by fiind for the Year Ended 31 March 2024 Total Total Unrestrieted Unrestricted Funds Funds 2024 2023 Income and Endowments from: Donations and legacies Other income 32,326 7,000 38,256 Total income 39,326 49,176 Expenditure on: Charitable activities 25,714} 31,774 Total expenditur¢ (25,714) 31,774 Net income 13,612 17,402 Net moveniellt in funds 13,612 17,402 Reconclliation of funds Total funds brought forward Total finds carried forward 258,559 241,157 272,171 258,559 Tliis pape does Iiot toiri pari of Ilie slatLiloi'N, finaiic i£11 slaleineiils, Al - M