CHARITY REGISTRATION NUMBER: 1146612 Islamic Education Trust Unaudited Financial Statements 31 March 2024 AT co- HARTERED Chartered Certified Accountants 154 Melbourne Road Leicester Leicestershire LE2 ODT ERTIFIED AC NT
Islamic Education Trust Financial Statements Year ended 31 March 2024 Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements Page 10 11
Islamic Education Trust Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial staiements of tho charity for ihe year ended 31 March 2024. Chair's report The trustees present their report and the financial statements for the year ended 31 March 2024.The trustees and ollice bearers who seNed during the year and up to the date of this report are set out below.
Islamic Education Trust Trustees, Annual Report (contlnued) Year ended 31 March 2024 Reference and administrative details Registered charity name Charity registraiion number Prlncipal off Ice Islamic Education Trust 1146612 3-13 Keythorpe Street Leicester LE2 OAL The trustees AKM Gheewala MFM Mulla MSE Mulla (Treasurer) 191amic Education Trust is an unincorporaied charity and the business address is 3-13 Keythorpe Streel, Leicester LE2 OAL which is also Ihe registered office. The following are the trusteos who served during tho year ended 31 March 2024 till to-date are as follows: Abdukkarim M Gheewala (President) Enayatulla Khan Pathan (Vice President) Mohammed Faruk Mulla (Secretary) Adam Yusuf Sabat Fakir Ahmad GA Gheewala Abubaker Mohamed Faruk Mulla Miya Ahmed HM Mulla Mohamed Ghari Ismail Ibrahim Mulla The following are the oflice bearers but not truslees except Adam Yusuf Sabat who is a trust8e, and took keen part in the management of Islamic Education Trust: Shoiab Haji (Internal Auditor} Mohamed Soyabe Ebrahim Mulla (Treasurer} Adam Yusuf Sabat (Madrasha Secretary) Company secretary Indep6ndent examiner Mohamed Faruk Mulla Yusuf Badat FCCA Chartered Certified Accounlant 154 Melbourne Road Leicester Leicestershire LE2 ODT
Islamic Education Trust Trustees. Annual Report (continued) Year ended 31 March 2024 Structure, governance and management Islamic Education Trust Report of the trustees for the year ended 31 March 2024 The trustees of the Islamic Education Trust (IETI present their report and Ihe financial statements for the year ended 31 March 2024. The trustees who served during the year and up to the date ol this report are set out on page 1 - 2. Structure, govèrnance and management: Assalamualaykum Warahmaiullahe Wabarakatohu The Trustees have pleasure in presenting their roport for the year ended 31 March 2024 in accordance with the Charity Commission's recommendations and guidelines. Status & Administralion & Responsibilities & Obligations: The IET continues to operaie in a safe 8nvironment following COVID ensuring the health and wellbeing of the users of the facilities of IET is at the forefront. Health and safety risks are continually assossed by the elected Executive Committee who manage the day-to-day operations ol the IET, and any miligating actions are implemented to minimise the risks to public salely. In addition, the Madressa supplementary school continues to Ihrive post COVID with over 400 children attending in the evening. ranging from 5 to 18 years in age with a staff complim@nt of 27. We remain actively engaged with other community and faith groups in ihe city in sharing good praclices and in organising support for the vulnerable individuals and groups. We remain gratetul lo all our communities, our congregations and volunieers for their assistance, support and cooperation during this year. By the grace ol Almighty Allah, the Trust is operating as a vibranl organisaiion in making community services provisions. The elected executive council remains responsible for Ihe day-to-day operational management and decisions. The monthly EC meeting cycle has been proved very successful and effective in managing all our aclivilies. We are pleased to report that the participation of EC members and trustees to these meetings have remained sleadfast in Ihe provision of their voluntary services. Many young trust members have started shadowing the office bearers, a practice introduced to encourage young members lo bo active in learning as well as increasing ownership of the programmes and activities. This has been very successful in generating new ideas and programmes for the Trust on one hand, and on the Oiher hand it's assisting in developing a second line of young leadership. This Partnership working has been proved successful. The Trust has benefitled from the younger generation in implementing their suggestions to bring the organisation more in line with professional etiquette and practices. We review our objeclives and activities regularly ensuring complianc8 Wlth the Charity Commission's general guidance. In addition, the review assists US in ensuring that all our programmes and activities remain aligned to our Slated & agreed objectives & purposes. Risk Management: The Irust operaies its accounts with leading banks lo minimise disruption and risk. The Trust does not have any investment portfolio. However. we have two properties, one at 4 Wilson Street and second one at 13 Garendon Street. Both these properties are rented out generating regular monthly income
Islamic Education Trust Trustees, Annual Report (continued) Year ended 31 March 2024 for the Trust. The tenant occupancies remain high and the properties never remain unoccupied. We continue to respect the donor's wishes fully and income generated is being used aecordingly. We have ongoing review of the risks which charity faces in respect of the sector in which it operates and plan to manage such risks and mitigate their effects. Responsibilities of the Truslees: The EC lakes safeguarding (Adults & Children) very seriously. The policy statements are prepared and endorsed in addition to DBS checks lor the key office bearers who come into contacts with young children. All staff are trained in safeguarding and refresher training occurs annually for the stalf who are in regular contact wilh children. The EC also lakes legal Iramework very seriously in complying with existing legislative obligations for the charitable organisation like Ihe Trusl. There is always an an ongoing review of our policies and procodures ensuring that new guidance is taken seriously and that our policies and procedures are aligned to the most current requirements. Objectives and aciivitles Trust Charity Objectives: The object of the charity is to advance the Islamic Religion including offering prayer facilities, conducting marriage ceremonies, supporting Muslim burial facilities, education of Muslim children, organise adult education classes, deliver lectures covering Islamic SLJbjects, engage with other faiths in the city and county of Leicestershire towards promoting racial and religious harmony, organise youth programs, and help to relieve the poor and disadvantaged groups in hospilals and poor economic conditions across the world, These objeciives aré well reflected in all our programmes and activilies. Principle policy to guide our work in achieving th6 Charity Objectives.. To establish a Masjid for prayer facilities in accordance with the Islamic teachings offering public space for worshippers in a safe, peaceful and appealing environmenl. A space where service users could pray and meditate in discharging their obligatory religious duties. Continuing with principle policy to guide our work in achieving the Charity's Objectives: To establish Madrasah (school) in offering sale and secure learning environment for young people and the older generation and other ancillary buildings lo be used for achieving the same objectives in providing communily services in line with the Trust objectives.
Islamic Education Trust Trustees. Annual Report {eontinued) Year ended 31 March 2024 Achlevements and performance Achievements and performance: Activities and achievements.. The charity is managed and wn by the group of committed volunleers. who offer their time and expertise with religious commitments. The Trust representatives have always remained on the forefront in actively participating with statulory organisaiions and voluntary sector groups in addressing the issues affecting Leicester community. Islamic Education Trust Report of the trustees for the year ended 31 March 2024 Charity's performance during the year.. The list of programmes and activities for the year is too long, but following outlines the broad spectrum of our work.. Managemont and running of ihe mosque.. Masjid Al Falah offers daily five times prayers and Friday prayers, Islamic marriage ceremonies, regular education programs and monthly youth programs, holding mosque open days for visitors of all backgrounds to help promote a beller understanding of our faith and organising Iftaar evenings (breaking fast at sun set in the month of Ramadan) for people ol differ8nt faiths as well as pgople ol no faith. Management and running of the Madrasha Falahe Darain.. Islamic education f2cilitieg are catered for circa 400 children boys and girls with the age range group of 5 to 16 years taught by 27 qualifiod members of stalf-both male and female. Additionally, our young students actively participate in selecting & supporting a charity ol their choice every year. They also take part in sporting activities for young children in partnership with the Khidmah organisation and other Youth groups. Adult Islamic education classes for men and women: Men and women have benelitted from the classes who wanted to learn more about Islam and those who have also been lagging behind in acquiring the knowledge of basic five pillars of Islam and Quranic teachings. Numbers have ranged from 12 to 25 people per session throughout the year. Representation & affiliation with Other Organisations.. The charity is also alliliaie member of other organisations and liaises with those bodies in promoting good community cohesion and race relations. 11 works with people of all faiths or no faith and with people of differenl race backgrounds. It works closely with Federation of Muslim Organisation, Council of Faith Leicester, Federation of Indian Muslim Organisation and Muslim Council Of Britain and Muslim Burial Council Of Leicestershire (MBCOL) & Indian High Commission, in addilion to working closely wilh other mosques and madressas to align its religious and education activities. Masjid nolice board has remained a popular tool for disseminating inlormation for communily use. Charity Assets:
Islamic Education Trust Trustees. Annual Report (continued) Year ended 31 March 2024 Main Charity Assets.. 3-13 Keythorpe Street. The principal property at 3-13 Keythorpe Street. Leicester comprises of the Masjid and Madrasah facilities. Other Buildings owned by the Charity: The building at 4 Keythorpe Street is used for Madrasah activities as well as for women's educational classes. The property at 8-10 Wilson Street is being used as an educational/ Madrasah centre for girls. Also, the property is regularly used for community based aclivilies. Investment Property". The houses at 4 Wilson Street and at 13 Garendon Street are on rent for family accommodation, generating income for the Trust. The values of the properties in the balance sheel refleci the historical cost value. Islamic Education Trust Report of Ihe trustees for the year ended 31 March 2024 Concluding remarks regarding achievements and pertormance.. The Islamic Education Trust (Leicester) has enjoyed a good reputaiion and manag8d to create a positive profile wilhin the Leicester community, delivering on its organisational objectives and providing an essential service to the community. We remain quite focused on our objectives and purposes in designing our programmes and aclivilies. We promote aciive participation of community volunteers and take regular leedback from sen/ice users. We thank all our service users for their cooperation and support, our supporters & volunloers for their dedicaied help and all the trustees and executive council for their commitments and contributions in making Ihe year a successful one. We as trustees pray lor all and sincerely hope that your coopération will continue as before, enabling us lo continue providing valuable community services through the Trust. Wassalam
Islamic Education Trust Trustees. Annual Report (continued) Year ended 31 March 2024 Flnancial review This is the eleventh report presented for the year ended 31 March 2024 in charily format Total incoming and outgoing resources- Total income for the year was £225,615 (last year £207,794) Total spent for the year was £243,072 (last year £187,416) Loss for Ihe year was (£17,457) Ilasl year £20.378) The above expenses includes depreciation cost and incoming resources includes rental income of £16,040 (last year £14.662} Investment Income.. Gross rental receipts for the current year was £16,040 Incoming Resources-voluntary income.. Donations received were £79,822 (last year £61,794) Activities for Generating funds-madrasha fees; Gross madrassah fees received was £123,207 (last year £127,662) Activities for Generating Funds-Book Shop Bookshop sales was £2,945 (last year £3,676) Resources Expend8d on activities.. Ustad wages and expenses was £127,758 (last year £105,508) Bookshop purchases was £4,974 {last year 2,756) Governance Cost: Governance cost was £66,973 including depreciation (last year £61,031) The trustees, annual report was approved on 19 December 2024 and signed on behalf of the board of trustees by.- AKM Gheawala Trustee MFM Mulla Trustee MSE Mulla {Treasurer}
Islamic Education Trust Independent Examiner's Report to the Trustees of Islamic Education Trust Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Islamic Education Trust ('the chariv) for the year ended 31 March 2024. Responsibilitles and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all tho applicable Directions given by the Charity Commission under section 14515)(b) of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set Out in the Charities {AcGounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matlers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Yusuf Badat FCCA Chartered Certified Accountanl Independent Examiner 154 Melbourne Road Leicester Leicestershire LE2 ODT
Islamic Education Trust Statement of Financial Activities Year ended 31 March 2024 2024 Unrestricted funds Tolal funds 2023 Income and endowments Donations and legacies Other trading activities Investment income Total Income Expenditure Expenditure on raising funds: Costs of raising donations and legacies Costs of other Irading activities Expenditure on charitable activities Total expenditure Note Total funds 79,822 129,753 16,040 225,615 79,822 129,753 16,040 225,615 61,794 131,338 14,662 207,794 43,367 132,732 66.973 243,072 43,367 132,732 66,973 243,072 18,121 108,264 61,031 187,416 9,10 Net {expendlture)Ilncome and net movement in funds Reconclllation of funds Total funds brought forward Total funds carried forward (17,457) (17,457) 20,378 1,483,443 1,483.443 1,465,986 1,465,986 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 1,463,065 1,483,443 The noles on pages 11 to 18 lorm part of these financial statements.
Islamic Education Trust Statement of Financial Position 31 March 2024 Flxed assets Tangible fixed assets Current assets Debtors Cash at bank and in hand 2024 2023 Note 14 1,313,902 1.317.005 15 1,222 151,537 152,759 167,763 167,763 Creditors: amounts lalling due withln one year Net ¢urrent assets Total assets less current Ilabillties Net asseis 16 675 152,084 1,465,986 1,465,986 1,325 166,438 1,483,443 1,483,443 Funds of the charity Unrestricted funds Total charlty funds 1,465,986 1,483,443 18 1,465,986 1.483,443 These financial Statements were approved by the board of trustees and aulhorised for issue on 19 December 2024, and are signed on behalf of Ihe board by: AKM Gheewala Trustee MFM Mulla Trustee The notes on pages 11 to 18 form part of these financial statemenls. 10
Islamic Education Trust Notes to the Financial Statements Year ended 31 March 2024 General informatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 3-I3Keh0rpe Street, Leicester, LE2 OAU. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable io charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tho UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 1021) and the Charities Act 2011. Accountlng pollcles Basls of preparatlon The financial slatements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investm6nl properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estimatlon uncertainty The preparation of the financial statements requires managemenl to make judgements, estimates and assumptions that alfecl the amounts reported. These estimates and judgements are continually reviewed and are based on experience and oth&r faclors. including expectations of fulure events Ihat are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees lo further any of the charity's purposes. Designated fund8 are unre8triGted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or Ihrough the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 11
Islamic Education Trust Notes to the Financial Statements (cnntlnued) Year ended 31 March 2024 Accountlng policles fcontinuedj Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable thai Ihe economic benefits associated with the transaclion will flow to the charity and the amount can be reliably measured. The following specilic policies are applied to particular calegories of income= income Irom donations or grants is recognised when there is evidence of entitlement io the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and eniitlement is eslablished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost Io ihe donor or the estimated resale value. Donated facililies and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of g8neral volunteers. income from contracts for the supply of services is recognisod with the delivery ol the contracted service. This is classified as unrestricted funds unl&ss there is a contractual requirement for it to be spent on a particular purpose and returned il unspont, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an aecruals basis as a liability is incurred. Expendilurè includes any VAT which cannol be fully recovered, and is classified under headings of the statement of financial activities lo which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale ol donated goods. expendilure on charitable activities includes all costs incurred by a charily in undertaking activities that further its charitable aims for the benefit ol its beneficiaries, including those support cosls and costs relating to the governance ol the charily apportioned lo charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part ol its expenditure on charitable activities. All costs are allocated to expenditure categories rellecting the use of the resource. Direct costs attributable to a single activity are allocated directly to thai activity. Shared costs are apportioned between the activilies Ihey contribute to on a reasonable, jusliliable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any iangible assets carried al revalued amounts are recorded at the fair value at the date ol revaluation 18ss any subsequent accumulated depreciation and subsequenl accumulated impairmenl losses. 12
Islamic Education Trust Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (continued) Tanglble assels {coniinued) An increase in the carrying amount of an asset as a result ol a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, excepi to which il offsets any previous revaluation gain, in which case Ihe loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depr8ciation is calculated so as to write off the cost or valuation of an asset, 18SS Its residual value, over tho useful economic life of that ass&t as follows.. Fixtures and fillings Impalmient of flxed assets 10 /0 reducing balance A review for indicators of impairment is carried out ai each reporting date, with the recoverable amount being estimaied where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments aro also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate tha recoverable amount of an individual asset, an estimate is made of the reGoverable amount of the cash- generating unit to which ihe asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent ol the cash inllows Irom other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of Ihe cash-generaling units that are expected lo benefit Irom the synergies ol Ihe combination, irrespective of whether other assets or liabilities of the charity are assign@d to those units. 13
Islamic Education Trust Notes to the Financial Statements lcontinued) Year ended 31 March 2024 Accounting policies (continuad) Flnancial instruments A linancial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing Iransaclion, where it is recognised at the presont value of the future payments discounted at a market rale of interest for a similar debt insirument. Current assets and current liabilities aro subsequently measured at the cash or other considoration expecled lo be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where inveslments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expendilure. All other such investments are subsequently measured at cost less impairment. Other financial inslrumenis, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rale of interest that is not a markel rate, in which case the asset is measured ai the present value of the future payments discounted at a market rate ol interest for a similar debt instrument. Other financial instruments are subsequently measured ai lair value, wilh any changes recognised in profil or loss, with the exception ol hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statemenl ol financial activities in which the initial gain was rocognised. For all equity instruments regardless of Significance, and olher linancial assets Ihat are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of sim ilar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does nol result in a carrying amount of the iinancial asset thal exceeds what the carrying amount would have been had Ihe impairment not previously been recognised. Currently the charity is a small one and does not deal in complex financial instruments. Defined contribulion plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. 14
Islamic Education Trust Notes to the Financial Statements (continuèd) Year ended 31 March 2024 Accounting policies (continued) Defined contribution plans (contlnued) When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. Tho unwinding of the discount is recognised as an expense in the period in which il arises. Donatlons and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 78.916 78.916 Other donatlons and legacies Other donations Gift Aid 60,458 60,458 906 906 1.336 79,822 1,336 61,794 79,822 61,794 Other trading activllles Unr69tricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Madressa Fees receipis-activity 1 Kitaab Sales Other income from other trading activities type 3 - Nikah Fees 123,208 2,945 123,208 2,945 127,662 3,676 127,662 3,676 3,600 129,753 3.600 129,753 131,338 131,338 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from investment properties Other interest receivable 14,880 1,160 16,040 14,880 1,160 16,040 14,600 62 14,600 62 14,662 14,662 Costs of raislng donalions and legacies Unrestricted Total Funds Unrestrictod Total Funds FLJnds 2024 Funds 2023 Costs of raising donations and legacies Donations 43,367 43,367 18,121 18,121 15
Islamic Education Trust Notes to the Financial Statements (continued) Year ended 31 March 2024 Costs of other trading activlties Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of other trading activities Shop costs 132,732 Expenditure on charitable activltles by fund type 132,732 108,264 108,264 Unrestricted Total Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Support costs 66,973 10. Expenditure on charltable aciivlties by actlvlty type 66,973 61,031 61,031 Toial funds 2024 Governance costs Support costs Total fund 2023 66,973 66,973 11. Independent examination fees Fees paid to the Independent examiner was agreed at £675 12. Staff cost8 61,031 The total siaff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Employer contributions io pension plans 25,840 1,332 27,172 24,821 24,821 Staff costs under governance was £25,840 The average head count of employees during the year was 27 (2023.. 271. No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 13. Trustee remuneration and expenses No remuneration or other benefits from employment wilh the charity or a related party were received by the trustees 16
Islamic Education Trust Notes to the Financial Statements (¢ontlnued} Year ended 31 March 2024 14. Tangible flxed assets Freehold Fixtures and property fittings Total Cost At 1 April 2023 Additions 1,278,049 101,062 881 1,379.111 881 At 31 March 2024 Deprecialion At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 1,278,049 101,943 1.379,992 66,090 66,090 1,278,049 1,278,049 35,853 34,972 1,313,902 1,313,021 15. Debtors 2024 2023 Prepayments and accrued income 1,222 16. Crediiors: amounis talllng due wllhin one year 2024 2023 Accruals and deferred income 675 1,325 17. Penslons and Other post reiirement benefits Defined contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribulion plans was £1,332 {2023- £Nil}. 17
Islamic Education Trust Notes to the Financial Statements (continued) Year ended 31 March 2024 18. Analysls of charitsble funds Unresiricted funds At 1 April 2023 At 31 MarGh 202 Income Expenditure General funds 1,483.443 225.615 1243,072) 1,465.986 At 31 March 202 Al 1 April 2022 Income Expenditure General lunds 1,463,065 207,794 {187,4161 1,483,443 19. Flnancial Instrumenls The Charity is very small and does not deal in complex financial instruments. 18