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-I3Ke￿h0rpe 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