Company registrdlion number. 08193475
Charlty registration number. 1150876
The Idries Shah Foundation
(A company limrted by guarantee)
Annual Report and Finan¢lal Ststements
for the Year Ended 31 March 2025
//
WESTCOTTS
¢HARTEAEO AC¢OUNTANTS
• RVSINE$¥ ADVISERS

The Idries Shah Foundation
Contents
Reforence and Administrative Det811s
2to7
Trustees, Report
Independent Examlnerf5 Report
Statement of Flnanclal A￿VI￿eS
10t011
Balan￿ Sheet
Notes to the Hnanci81 Ststements
12to27

The Idries Shah Foundation
Reference and Administrative Details
Trustees:
Saira Shah
Clare Maxwell-Hudson
Dan Whitaker
Kri Centofanti {appointed 12 November 20241
Sara Jane Hall {appolnted 12 November 2024)
Charlty Raglstratlon Numbor
1150876
Company Reglstratlon Number 08193475
The charity 15 incy)rporated In England and Walos.
8&90 Paul Street
London
EC2A 4NE
Westcotts (SW) LLP
47 Boutport Street
Barnstaple
Devon
EX31 1SQ
R•gl$tered Offl¢e
Independ&nt Examlner
Page 1

The Idrles Shah Foundation
Trustees, Report
FOR THE YEAR ENDED 31 MARCH 2024
The trustees are pleased to present Ihelr Annual report together with the finandal Statements of the
Charty for the year end8J 31 March 2025. whlch are also prepared to meet the requlrements for a
Directors, Report and Accounts for Companies Act purposes.
The financial statements have been prepared In accordance with the accounting policie5 set out in
note 1 to the financial Statements and comply with the Charitls Articles of Association, the
Companies Act 2006 and "Accounting and Reporung by Charities.. Statement of Recornmended
Pr8clice ISORP) applicable lo charities preparing their accounls in ac(x)rdance with the Financlal
Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021" las amended for
accounting peri(Ids commencing from 1 January 20191
The Idries Shah Found8tion is a registered Charlty (No. 11508761 and a Company Limited by
Guarantee {No. 081934751 and was incorporated on 29th August 2012.
OBJECTIVES AND ACTIVITIES
The objects of the charitable company, as set out In the Articles of Association are:_
The advancement of educatlon by the dissemination and promotion of the WOTk5 of Idries
Shah.. and
The promolDn of the arts. culture and h8ritage wth partlcular (but not exGlusivel reference to
the works of Idrfes Shah.
The aim of the Charity is to promote tolerance and cultural understanding by the dissemination of Sufi
ide8s as widely as possible. Sufi culture and heritage stress values of respect and toleran￿ towards
all human beings.
These ideas, which con5tftule a philosophlcal system originatlng from within the Islamlc world,
promote A balan￿d mental outlook, the ability to thlnk for oneself, a non-lilerallst approach lo religion,
tolerance towards other people and itleas, women's rights, humour and common sense.
For more than 40 years, Idries Shah collected centuries of traditlonal Sufi literabjre from across the
Middle East and Asla, translatlng the original Persian, Arabic and Urdu malerfal Into English. This
canon Inclydad "leaching-storles, which Svfis have used from time immemorial lo help people think
more floxibly, as well as saylngs, proverbs and aphorisms. Shah made much of this material available
lo the wider Westem public for th8 first time
and he offered an Srnlerpretalion of this invaluable
resource that was uniquely framed for our tlmes.
Taken as a whole. Shah's corpus remains a unlque source of Sufi literature in the English 18nguag&
and represents probably the most comprehenslve collection of Sufi stories in the world.
Shah's works drew extensively Irom past Sufi luminaries, including Jalaluddln Rumi, Hafez, Sheikh
Sa'adi of Shiraz, Fadduddin Attar, Ibn el-Arabi, El-Ghazzali and Omar Khayyam
all widely
acknowledged as philosophers and thinkers who contributed profoundly lo the developrnent of human
thought and society- The Tru51ees are aiming to achieve the charitable objectives by disseminating
the works of Idries Shah. In pvrsuance of the charitable aims the Trustaes, approach includes the
following:
M8inlalning the complete works of Idries Shah, unedited and accessible wlhout cost lo the
reader, vla our website.
Conllnuing to promote the existence of thls resource by developing our website and by any
other means which appear relevant and effective.
Pagg 2

The Idrles Shah Foundation
Trustees. Report
Putting the works in contemporary context by the commlsslon of infomed artldes and other
publications.
Acceptlng SLJitable partnershlps for charltable dlslrfbution of these W0￿S.
Selling physical and electronic books by Idries Shah, to support our charitable activities.
The Trustees recognlse that the aims of the Charfty are such that their approach must be developed
over a medium to long-lerm period.
PUBLIC BENEFIT
The Trustees are aware of the Charlty Commission guidance on Charity and Public Benefit and
¢onfirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due
regard to it. The Trustees wnslder that the information contained within the Trustees, Report about
th8 Charitys aims, activities and achievements demonslrates the benefft lo the public.
ACHIEVEMENT AND PERFORMANCE
The foundation is very proud to have completed its republishing of the complete works of Idrles Shah
In English. This now conslilutes a comprehensive, free, online library of Shah's books. which Is hosted
on our website. Importantly. this work is not edited in any way and thus provides a valuable relerence
resource.
Edltlons in Farsi, Darl and Turkish are also available for free via our website and it Is hoped that
Shah's contribution to human thought will help nourish a non-literalist way of thought that promotes
toleranc&, common sense and women's rights.
ISF also hosts Èlghteen fully Illustrated children's books based on st0ri8s by Idries Shah. both in
physical and electronic formal. These books are availoble free to read on its website. and available for
purchase which helps support our free content.
As the pledge lo make the entirety of Shah's works available for free has bean realised, ISF has
entered a new phase as th& custodian8 of those works.
The Charity is In a strong posltion lo achieve its core misslon- guaranteeing Idries Shah's full,
unedited works remain freely available lo the public.
ISF is deeply grateful for the financl81 donatlons il has received In support of Ihls effort.
PLANS FOR THE FUTURE
Saira Shah has begun a major new InltiatNe, of putting Shah's works Into ￿ntext for a new
general￿.
To this end. she is writing a series of artides looking at this extraordinary corpus In the light of
advances In psychology and neurology Ihal have b&en made since Shah's death.
At the same time, ISF GonUnu85 Its core mission of making the unedited Works available for free. And
11 continues to seek partners for charitable dislribuilon of both origlnal and translated versions.
FINANCIAL REVIEW
Investments
The board monitors the income being generated and the capitsl value of its investments on a regular
basis.
Page 3

The Idrles Shah Foundation
Trustees, Roport
Property Investments:
. Th8 Foundation has one rental property. currenuy worth around £500.000.
Flxod Asset Investments:
The Foundation's financlal assets are In a hlgh interest account, currently paying interest al 3.85%.-
The balance stands at £250,000.
The Found81ion's pollcy regardlng propety and fix8d asset Investments remains under revlew.
Totsl Income
Income from all sources (donations & legacles, book sale5, property Income. and Investment funds.
income) totalled £70,796 {2024= £96,695)
Property income totalled £17,241 (2024: £25,945)
Income from bcK*ks sales= £16,00012024.' £16,036)
Unrestricted donations tot811&d.' £25,682 (2024: £38.6271
No reslrlcted donations were generated for specific projects.
ResouK& Utlllsation
Sn progresslng the charftable objectlves and in fundraising, the Foundation has ulilised resources of
£173,481 {2024'. £251,159)
After adjusthient for the movement In the valu& of Ihe investments, nel expendlture totalled 91,267
12024: £211.939)
RESERVES
The board recognises the need to maintain a reserve suffiaent to ensure Ihal the Foundation is able
lo meet all oTrgoing commitments.
The balance sheet. remalns strong with net assets at 31 March 2025 of £0.8m {2024= £0.9m 2023=
£1.11 milllon.. 2022= £1.29 millionl-
RISK POLICY
The Trustees have assessed the major financial and operational risk5 to which Ihe charity Is 9xposed.
In doing so the Board have adopted the following policies for koy areas: _
8udgets are sel in respect of each charltable activity allowlng the Board to rnonilor the actual
results Sn comparison w((h expectslions.
In respect of the propety investment prI￿raMMe a regular revlew is maintained lo monltor
relevant legislation (both national and locall and the propety market generally to ensure Ih8t
the impact of any potential adverse changes is minimlsed.
The Board obtains appropriate professitsnal advlce prlor to any transactions conceming
acquisition or disposal of Investment propety-
A mainlenanca programme is established to ensure that the property and contents are kept in
good order
Page 4

The Idrles Shah Foundation
Trustees. Report
Appropriate insurance cover is obtalned for the Foundation's activities incluslve of c¥)ver for the
investment property and contents.
The Board recogllise that. in working lo publish and distribute books as widely as possible, the
Foundalion must seek the provision of services from sub-conlraclors who may be outside of the
UK and olher Induslrialised nations. By necessity, some of the providers of services may be in
are8S that are not readily accesslble by the Foundation.
To ensure that charhable funds are only used in support of the charitable objects the Board woukl-.
Appoint lo the management committee thosa who are known lo have experfence and
knowledge of the publishlng, distributlon and print (both in hard and electronic copy) and of the
geographical areas I socleties that the charity is looking lo reach out to.
Where the use of suppliers of goods and services local to the geographical area of interest Is
ne￿SSary for the delivery of the charitable objectives, the management committee will seek
(wherever pos5ible} those ￿th a proven track record in their field and wlll:
. Agree objectives and costs beforehand.
2. Eslabllsh a method whereby the local agent regularly reports on acuvlty and adilevements.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The organisation Is a Charftable Company Limited by Guarantee, Incorporated on 29th August 2012
and reglslered as a charity on 18th February 2013.
The ch8ritable company is govemed under Its Artldes of Association that sets oul the objects and
powers of the company.
Board of twstees
The trustees, who are also the Directors for the putpose of company law. and who have served durlng
the a￿Unting period are:
Clara M8xwell-Hudson
Danlel Whitaker
Centofanti (appointed 12 November 20241
Sara Jane Hall (appointed 12 November 2024)
Saira Shah
Saira Shah declares a beneficial interest in the Estate of Idries Shah land may therefore
receive royalties from book sales). Under the Charitys Conflict of Interest policy, she has made
a written declaration of interest and recuses herself from any decisions Ilnked to the Estste.
including book sales and distribution, and the minute5 of b08rd meetings clearty state where
this has been the case.
l of the Trustees are members of the Company and guarantee lo contrlbute £1 in the event of
wlnding up. The number of Truslees shall not be le5S than three.
The Trustees may appoint a person who is willing to act as a Truslee either to fill a casual vacancy or
as an additional member of the board.
New Trustees are selected with regard to the knowledge, sklll and exp&rtise appropriate for ttr8
effective administration of the Charity and the delivery of the charitable obj8ctiVe5.
Pag8 5

The Idries Shah Foundation
Trustees. Report
New Trustees are brlefed on Ihelr legal obligations under charlty and company law, on their rolo and
responsibililles as Trustees, the charity commission on public benefit, the contents of the governing
document, the decision making process, the buslness plans and the recent financial performance of
the Chaiity.
The Trusteas are Govered by trustees, Indemnlty insurance.
Professlonal advlsers
Accountancy
Weslcotts Chartered accountants was formally appointed by the board on 4 December 2024 to be
ISF'S accountants. The company has extensive experlence a5s5sting charities.
Legal
ISF'S legal advisers are Stone Klng. recognised as one of the leading law fimis for charitles in the UK.
Management
Board of trustees
The board dlrecls, within a strateglc plan, the overall financial and operational strategy of the
Foundation and monltors progress accordingly.
The board meets fomally a year. Virtual meellngs of the board are also held on a regular basis
and as necessary wlth the appolnted project rnanagement committee members., along with regular
email exchanges.
Policy doGurnents
The Foundatlon has pollcy and management documents that, subsequent to revislon in August 2024
flow comprise:
1. Trustees, Code of Conduct
2. Conflict of Interest Policy
3. Risk Policy
4. Investment Pollcy
5. Related Parties Reglster
6. Expenses Policy
7. Purchaslng & Payments Pollcy
8. GDPR Policy
9. Board skills analysSs
10. Pollcy Review schedule
11. ReseNes Policy
12. Social Media Policy
Page 6

The Idries Shah Foundation
Trustees. Report
Expense claim fomi
D8daration of Interests. and Related Party Tr8nsactions form
Statemenl of trustees. responslblllties
The trustees {who are also the directors of The Idries Shah Foundation for the purposes of company
law) are responsSble for preparing the trustees. report and the financlal statements in accordance with
applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Acceplad
Accounting Pradlcel. Induding FRS 102 'The Flnancial Reportlng Standard applicable in the UK and
Republlc of Ireland" The report and accounts have been prepared in accordance w￿h the provislons
In the Companles Act 2006 relating to small companles.
Company law requires the tTuslees lo prepara financial statements for each finan¢lal year. Under
company law the trustees must not approve the financial statements unless they are Satisfi￿ that
they give a true and fair view of the slate of affair5 of the charitable company and of the Incoming
resources and applicatlon of resources, induding its income and expenditure, of the charitable
company for that per￿d. In preparing these financial statements. the trustees are required to=
select suftable accounllng policSes and apply them consisteniiy.,
observe the methods and principles In the Charlties SORP.,
make judgements and estimates that are reasonable and prudent..
state whether 8pplicabla accounting standards, comprfsing FRS 102 have bean followed, sublecl
to any material dep8rturés disclosed and explained In the financlal statements- and
preparo the financial statements on the golng concern basis unless it is inappropriate to presume
that the charitable company wlll continue in business.
The Iruslees are responslble for keeplng proper accounting records that can dlsclose with reasonable
accuracy at any lime the financial posllion of the charitable company and enable them to ensure that
the finanelal statements comply with thg Companies Ad 2006. They are also responsible for
safeguardlng the assets of the eharltablo company and hence for taklng reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrlty of the corporate and financial
Information Induded on the charitable companls website. Legislation govemlng the preparation and
dissemlnallon of financial statements may éiffer from leglslatlon Sn other jurisdictions.
Small companies provislon statement
This report has been prepared in accordance with the small companies regime under the Comp8nles
Act 2006.
The annual report was approved by the tnjstaes of the charity on
behalf by.
2411212025
and signed on its
Clare Maxwell-Hudson
Trustee
Page 7

The Idries Shah Foundation
Independent Examiner's Report to the trust•es of The Idries Shah Foundation
('the Company,)
I report to the ch8rlly trustees on my examination of the accounts of the Company for the year ended
31 March 2025.
Responslbilltles and basls of report
As the tharily's Iruslees of the Company land also Its directors for the purposes of company lawl you
are responsible for the preparation of the accounts in accordance with the requirements of the
Compan18s Act 20061'lhe 2006 Act'}.
Having satisfied myself that the accounts ot the Company are not required to be audited under Part
16 of the 2006 Act and are eSigible for independent examination, I report in respect of my examination
of your charily's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l-
In carrying out my examinallon I have followed the Directions glven by the Charity Commission under
sectlon 145{51{b) of the 2011 Ad.
Independent examiner's statement
I have completed my examination. I fA)nfimi that no Matters have come to my allenlion in ￿nnectIOn
wlth the examination givlng me cause lo believe:
1. accounting records ware nol kept in respèct of The Idries Shah Foundation as required by
sedon 386 of th8 2006 Act,. or
2. the accounts do not accord with those records; or
3. the accounts do not cornply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view which 15 not a matter
considered as part of an independent ex8mination; or
4. the accounts have not been prepared in accordanc8 wllh the methods and principles of the
Statement of Recommended Practice for 8CCOLJnfjng and reporting by charities lapplicable lo
charities preparing their accounts in accordance wllh the Financial Reportlng Stsndard
applicable in the UK and Republic of Ireland IFRS 102)].
I have no concerns and have come across no other matters in connectlon with the examinallon to
whlch attention should be drawn In this report In order to enable 8 proper undorstanding of the
accounts to be reached.
Catherine Wllliams FCA DChA
Independent Examiner
Westcotts (SWI LLP
47 Boutport Stre81
Bamstaple
Devon
EX311SQ
Dale:.
Page 8

The Idries Shah Foundation
statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restrlcted
funds
Total
2025
Total
2024
Notg
Income and Endowments from:
Donatlons and legades
Charitable actlvtties
Investment income
25,682
16,000
29,114
25,682
16.000
29.114
38,627
16,036
38,032
Total income
70,796
70,796
92,695
Expendlture on:
Ralsing funds
Charitable actlvllles
{15.5831
1157.898)
1173,481 }
{15,583)
1157,898
(31.8101
1219.3491
1251,1591
Total expenditure
Gainslllosses) on
Investment assets
{173,4811
11,418
11.418
53,475)
Net expenditure
Net movement In funds
191,267
191,267
{211.9391
{211,9391
(91,267)
191,2671
Reconclllation of funds
rotal funds brought forward
Total funds carfed forward 21
900.687
4,746
4,746
905.433
1,117,372
905.433
809,420
814,166
All of the charity's actSvilies derlve from conlinulng operations during the above tsvo periods.
The funds breakdown for 2024 is shown in nots 21.
The notes on pages 12 to 27 fomi an integral part of these financial ststem&nts.
Page 9

The Idries Shah Foundation
(Registration number: 08193475)
Balance Sheet as at 31 March 2025
2025
2024
Noté
Flxed assets
Intanglble assets
Tanglble assets
Investments
14
3,252
700
525,000
528.952
4,019
4,052
843,247
16
851.318
Current assets
Stocks
Debtors
Cash at bank 8nd in h8nd
17
18
19
10,000
775
286,353
297,128
(11,9141
285,214
52,025
5,540
20,264
77,829
Credltors,. Amounts falllng due wlthin one year
20
23,7141
Net current assets
54.115
Net assets
814.166
)5.433
Funds of the charity:
Restrlctsd Income fund8
Restricted funds
4.746
4.746
Unrestrlcted income funds
Unrestricted funds
809,420
900,687
Total funds
21
814.166
905,433
For the financial year ending 31 March 2025 the charity was entitled to exemptlon from audit under
section 477 of the Companies Act 2006 relatlng lo small companies.
Directors, responsibillties:
The members have not required the charlty to obtain an audit of its accounts for the year in
question in accordance with section 476., and
The directors acknowledge their responslbllities for complying with the ￿qUirements of the Act with
respect to accountlng records and the preparation of aC￿UnIs.
These financlal statements hav& been prepared in accordance wlth the special provisions relating to
companies subject to the small companies reglme within Part 15 of the Companles Ad 2006.
The notes on pages 12 to 27 form an integral part of these financial statements.
Page 10

The Idries Shah Foundation
(Registration number: 08193475)
Balance Sheet as at 31 March 2025
The financial stalemenls on pages g lo 27 were approved by the trusteos, and aulhorfsed for Issue on
2411212025
and slgned on IheiT behalf by.
Clare M8xwell-Hudson
Trustee
The notes on pages 12 to 27 fomi an Integral part of these financi818t8tements.
Page 11

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charity status
The charity is Ilmited by guarantee, in(x)rporated In England and Wales, and consequently does not
have share capital. Each of the trustees Is Ilabl8 to contribute Bn amount not oxc£eding £1 towards
the assots of the charity in the event of15qulda￿On.
The address of Its regisl8red offi¢e is..
86-90 Paul Street
Lijndon
EC2A 4NE
2 Accountlng pollcles
Summary of significant accountlng pollcles and key accounting estimates
The principal accounting wlicies applied in the preparation of these financi81 stat￿ents are set out
below. These policies have been consistently applied to all the years presented, unless otherwlse
stated.
Statement of compliance
The financial statements have been prepared In accordance with Accounting and Reporbng by
Charities: Stslemenl of Recommended practi￿ (applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and RepLJbllc of Ireland IFRS
10211 Ilssued in October 20191- Icharilies SORP IFRS 10211, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companles Act 2006.
Basis of praparatlon
The Idries Shah Foundation meets the definllion of a public benefit enllty under FRS 102. Assets and
liabilitie5 are Initially recognised at historical cost or transaction value unless (Aherwise staled In the
relevant accounting policy notes. The financial statements are prep8red in sterling which Is the
lunctlonal currency of the charity.
Going concem
The trustees consider that there are no material uncertainties about Ihe charitvs abillty to continue as
a golng concern nor any signfficant areas of uncertainty that affect the carrying value of assets held by
th8 charity-
Exemption from preparlng a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not Included a
cash flow statement in these financial statements.
Income and endowments
All Income is recognised once the charity has entiuamenl to the income, it is probable that Ihe Income
will b8 rerEived and the amount of the income recaivable can be measured reliably.
Page 12

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
Donatlons and legacles
DOna￿OnS are recognised when the charity has been notified In wrlting of both the amount and
settlement dale. In the event that a donation is subject lo conditions that require a level of
perforrn8nce by the charlty before the ch8rily is enlilled lo the funds. the income is deferred and not
recognised until either those conditions are fully met, or the fijlfilment of those conditions is wholly
wlthin the control of the charity and it is probable that these conditions will be fvlftlled In the reporting
period.
Investhient InGonJe
Dividands are recognised once the dividend has been dedared and notificatlon has begn received of
the dividend due.
Expendlture
All expenditure is recognised once there is a legal or constructive obligation lo that expenditure. It is
probable settlement is requlred and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs carsnot
be directly attributed to particular headings they have been allocated on a basis consistent with the
use of resources, wllh central staff costs allocated on the basis of tlme spent. and depreciation
ch8rges allocated on th8 portlon of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Ralslng funds
These are costs Incurred In attracting voluntary inGome, the management of Investments and those
incurred in tradlng activitSes that raise funds.
Charitsble actlvities
Charitsble expenditure comprises those costs incurred by the charity in the delivery of hs aclivitles
and Serv[￿8 for its beneficiarie5. It includes both costs that can be allocated directly to such acllvities
and those costs of an Indirect nature necessary lo support them.
Grant èxpenditure
Grants payable are payments made lo third parties in the furtherance of Ihe charitable objectives.
Where the charfty gives a grant with conditions for its payment being a specific level of service or
oulpul to be provid8d, such grants are only recogriised in the Statement of Financial Activities once
the recipient of the grant has Provided the $￿c1￿C seNice or output.
Grants payable without perfomiance conditions are recognised in tho accounts whgn a commitment
has been made and communicated to the reciplenl, and there are no conditions to be met relating lo
the grant which remaln in the control of the charity.
Grantprovlsions
Provistins for grants are made when the intentlon to make 8 grant has been communicated lo the
reclpS6nt but there is uncertainty about either the dming of the grant or the amount of grant payable.
Support costs
Support costs indude contral fvjnctions and have been allocated to actiwty cost categories on a basis
consistent with the use of resources, for example. 811ocating property costs by floor areas. or per
C8Pita. staff Gosts by th8 time spent and other costs by Iheir usaga.
Pago 13

The Idrles Shah Foundation
Notes to th• Flnancial Statements for th• Year Ended 31 March 2025
Govomance costs
These include the costs attributable lo the chariivs compliance with constitutlonal and statutory
requirements, including audit. strateglc management and trustees meetlngs and reimbursed
expenses.
Taxation
The charlty is considered to pass the tests set out In Par8graph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of 8 charttable company for UK corporation tax purposes.
Accordlngly. the diarily Is potentially exempt from taxation in respect of income or capital gains
recelved within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such Income or gains are
applied exclusively to charitable purposes.
Intanglble assets
Intangible assels are slated in the Balance Sheet at cost less accumulated amortlsation and
impairment. They are amortised on a straight line basls over thelr estlmated useful lives.
Tan9lble fixed assets
Individual fixed assets are Initially recorded at cost, less any subsequent accumulated depreclatiorb
and subsequent accumulated impalrment losses.
Amortlsation
Arnortlsation Is provided on intangible flxed assets so as to write off the cost. less any estimat8d
residual value, over thelr expected useful economSc life ag follows..
Amortisatlon method and rate
10 years straight lin&
Asset ¢lass
Webslte
Depreciation and amortlsatlon
Depreciation is provided on tanglble fixed assets so as to write off the cost or valuation, less any
estimated residual v81ue, over Ihelr expected useful economic lrfe as follows:
Depreclation method and rate
30°h reducing balance
30Yo reducing balan
Asset class
Fixturas, fittings and equipment
Compul8r equlpment
Investment properties
Investment propety Is carried al fair value, derfv&d from the current maTket prices for comparable real
estate determined annually by external valuers. The valuers use obseNable market prices, adjusted if
necessary for any difference in the nature, locatlon or condition of th& specific asset. Changes in fair
volue are recognised in profil or loss.
Page 14

The Idrles Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
Flxed a55et Investments
Fixed asset investments. other than programme related Invgstments, are included at market value at
the balance sheet dale. Realised gains and 5osses on Investments are calculaled 85 the difference
b￿￿een sales proceeds and Ihelr market value al the start of the year, or their subsequent cost, and
are charged or credited to the Stslemenl of Flnanck81 ActiMties in the period of disposal.
Unreali5ed gains and losses represent the movement in market values during the year 8nd are
credited or charged to the Stslement of Financial Activities based on the market value al the year end.
Stock
Stock is valued at the lower of cost and eslirnaled selllng price less costs to complete and sell, after
dug regard for obsolete and slow moving stocks. Cost is delemiined uslng the first-in, first4)ut IFIFO)-
Cash and cash equlvalents
Cash and cash equivalents comprls& cash on hand and call deposits, and other short-lerm highly
liquid investments that are readlly convertible to a known amount of cash and are 5ublect to an
inslgnfficant rlsk of thange in value.
Fund structure
Unreslricled income funds are general funds that are avallable for use al the trustees discretion In
furtherance of the oblectives of the charity.
Reslrlcled income funds are those donated for use In a particular area or for specific purp)ses. the
use of which is restricted lo that area or purpose.
Flnanci81 instruments
Classlfication
Financial assets and financial liabllilies are recognised when the charfty becomes a party lo the
contractU81 prowsions of the Instrument.
Financial liabilities and equity instruments ara classified accordlng to th8 substance of the contractual
arrangements entered Into. An equlty instrument is any contract that evldences a residual interest in
the assets of the charity after deducting all ol its liabiliues.
Page 15

The Idrles Shah Foundation
Notes to the Financlal Statements for the Year Ended 31 March 2025
Recognltlon and measurement
All financial assets and liabilitles aro Initially measured 8t transadion price (including transactlon
coslsl. ex￿pt for those financial assets Classified as al fair value through profil or loss. which are
inltially measured al fair value (which is normally the transaction price excluding transaction costs},
unless Ihe 8rr8ngement conslilules a financing transadion. If an arrangement conslitules a financing
Irans8clion. the financial asset or financial liability is measured al the present value of the future
payments discounted at 8 m8rket late of interest for a simllar debt instrument.
Financial assets ané Ilabilities are only offset in the slalemenl of financi81 p05itlon when, and only
when there exlsts a legally enforceable right lo set off the recognised amounts and the charity Intends
either lo settle on a net basis, or lo reallse the asset and sellle the liability slmullaneously.
Financial assets are derecognised when and only when a) the conlraclual rights to the cash flows
from the flnancial asset expire or are settled. bl the charity Iranslers lo another party substantially all
of the risks and rewards of ownershlp of the financial assel, or cl the tharlly, despite having retained
some, bul not all, signfficonl risks and rewards of ownership. has transfeffed control of the asset to
another party.
Fln8ncial Ilabilitie5 are derecLNJnised only when the obllgalion specified in the contract is discharged,
cancelled or expires.
Investments
Investment5 In non-convertible preference shares and non-putt2ble ordinary or preference shares
(where shares are publicty traded or their fair value Ss reliably measurable) are me8sured al fair value
through profil or loss. Where fair value cannot be measured rèliably, investments are measured at
cost less impairment.
Investments in subsidialles and associates are measured at cost less Impaimienl. For investments In
subsidiaries acquired for consideration including the issu8 of shares qUalI￿n￿ for merger relief, cost
is measured by reference to the nomlnal value of th8 shares issued plus falr value of other
conslderation. Any prgmlum is ignored.
3 Income from donations and legacles
Unrestricted
funds
General
Totsl
2025
Donations and grfts
25,682
25.682
Unrestrlcted
funds
General
Totsl
2024
Donalions and gffts
38,627
38.627
Pago 16

The Idrles Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
4 Income from charitable actlvities
Unrestrlcted
funds
General
Total
2025
SÉle of books
16,000
16.000
UnTestrlded
funds
General
Total
2024
Sale of books
16,036
16,036
5 Investment income
Unrestricted
funds
Genernl
Total
2025
Bank interest
Income from rents
Income from Ilsled investments
9,207
17,241
2.666
9.207
17,241
2,666
29,114
29,114
Unrestricted
funds
General
Total
2024
Income from rents
Income from Ilsted investments
25,945
12,087
38,032
25,945
12,087
38,032
6 Expenditure on ralslng funds
a) Costs of tradlng artivities
Unrestrfcted
funds
General
Total
2025
Investment management fees
130
130
Page 17

The Idries Shah Foundation
Notes to the Financial Ststements for the Year Ended 31 March 2025
Unrestricted
funds
General
Totsl
2024
Staging fundraising costs
Investment management fees
109
1.333
109
1,333
1,442
1,442
b) Investment management costs
Unrestricted
funds
General
Total
2025
Investment property overheads
Allocated g0Veman￿ costs
Allocated support costs
10,120
2,774
2.559
10,120
2,774
2.559
15,453
15.453
Unrestrlcted
funds
General
Restricted
funds
Total
2024
Investment property overheads
Allocaled govemance costs
Allocated support Gosls
12,445
14,479
3,424
12,445
14,479
20
30.348
20
30,368
7 Expendlture on charltable activities
UnrestriGted
funds
General
Total
2025
Website and soc181 medla operating costs
English, Spanish and other Languages Publlshing Translatlon &
Distribution Costs
35,197
35.197
122,701
122,701
157.898
157,898
Page 18

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
Unrestrlcted
funds
General
Restricted
funds
Total
2024
Web51te and social media operatlng costs
Middle East Language Translation and publlshing
costs
English, Spanlsh and other Languages Publlshing
Translation & Distributlon Costs
General Education Activities
93,121
61
93.182
22,911
15,633
38,544
81.957
5.608
82.011
5,612
219,349
203.597
15.752
Aetlvlty
undertaken
directly
Support Goveman¢e
costs
costs
2025
2024
Website and social media
operating costs
Middle East Language
Translation and publlshing
costs
English, Spanish and other
Languages Publishing
Translation & Distribution
Costs
General Education Aclivitles
23,151
5.780
6,266
35,197
93,182
80,706
20,151
21.844
122.701
82,011
5,612
219.349
103.857
25.931
28.110
157,898
Page 19

The Idries Shah Foundation
Notes to the Financial Statements for tha Year Ended 31 March 2025
8 Analysls of governance and support Gosts
Governance costs
Total
2025
Total
2024
Support Costs
Amortisalion
Depreciatlon
Bank charges
Exchange dlfferences
General office costs
Insurance
Travel and subslstence
Rent
Repalrs and maintenance
Legal and profession81
766
3,042
1.632
765
1,260
1,815
750
7,561
1,381
2,854
10,446
359
3,796
1,831
817
8,701
786
7,119
28,490
27,191
Total
2025
Total
2024
Governance costs
Staff costs
Independent Examinerfs remuneration
Trustees remuneration and expenses
Legal fees
Depreciatlon, amortisation and other slmilar costs
28,010
2,580
294
70,166
6,300
1.043
36.740
72
30,884
114.321
Pag8 20

The Idries Shah Foundation
Notes to the Financial Ststements for the Year Ended 31 March 2025
9 Net Incomlngloutgoing resources
Net outgoing resources for the year Include..
2025
2024
Loss on dlsposal of fixed assets held for the charivs own use
Depreciallon of fixed assets
72
1,671
3,042
10 Trustees remunerallon and expenses
No trustees. nor any persons connected with them. have reca￿e￿ any Temuneratlon from the charity
during the year.
No trustees have received any relmbursed expenses or any other benefits from the charity durlng the
11 Stsff costs
The aggregate payro15 costs were 8s follows:
2025
2024
Stsff costs during tha year were:
Wages and salarfes
Sory81 security costs
Penslon costs
27,090
65,000
2,715
2.451
920
28.010
70.166
Th8 monthly 8verag8 number of persons {induding senior management I leadership leaml employed
by the charlty during the year was as follows..
2025
2024
No
No
Charitable actlvities
No employee received emoluments of more than £60,C4JO during the year.
12 Independent examinerfs remuneration
2025
2024
Examinalion of the financial statements
2,580
6,300
Page 21

The Idries Shah Foundation
Notes to the Flnancial Statements for the Year Ended 31 March 2025
13 Taxatlon
The charity Is a registered charity and is therafore exempt from taxation.
14 Intsnglble fixed assets
Webslte
Total
Cost
Al 1 April 2024
Al 31 March 2025
7,655
7,655
7.655
7.655
Amortlsation
At 1 April 2024
Charge for the year
At 31 Marth 2025
3.637
766
3,637
766
4,403
4,403
Net book value
At 31 March 2025
3,252
3.252
Al 31 March 2024
4.018
4,018
15 Tangible fixad assets
Fumlture
and
equlpment
Computer
equipment
Total
Cost
At 1 April 2024
Disposals
At 31 March 2025
19,790
19.4901
7.809
(7,409}
400
27.599
26.899
300
700
Depreciation
Al 1 Aprfl 2024
Charge for the year
Elimlnated on disposals
18,832
658
19,490
4,715
2,384
17.0991
23.547
3,042
126,589
At 31 March 2025
Net book value
700
At 31 March 2025
300
400
At 31 March 2024
958
3.094
4,052
Page 22

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
16 Flxed asset Investments
2025
2024
Investment properties
Other investments
525,000
525,000
318,247
843,247
525,000
Investment propertles
Investment
propertles
Cost or Valuation
Al 1 April 2024
525.000
Provlslon
At 31 March 2025
Net b¢)ok valu•
At 31 March 2025
525.000
At 31 March 2024
s25.0￿)
The f8iT value of the 5nvestmenl propert18s is based on a rÈv(ew carded out by the Trustaes and the
Chlef EXeCut￿e. In doSng so Managgrnent consulted with property professionals lo ascertain the likely
value that the property may obtsin if marketed 8t the B85an￿ Sheet date. The property is held on a
long lease.
There has been no valuation of investment propety by an independenl valuer.
Pagg 23

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
other Investments
Listed
Investments
Totsl
Cost or Valuatlon
Al 1 April 2024
Revaluation
Oisposals
At 31 March 2025
289,471
289,471
11.418
11,418
{300,8891 1300.889
Net book value
At 31 March 2025
Al 31 March 2024
289,471
289,471
17 Stock
2025
2024
Stocks
10.000
52,025
18 Debtors
2025
2024
Trade deblo
Prepayments
Other debtors
2,000
2,761
779
775
775
5,540
19 Cash and cash equivalents
2025
2024
Cash al bank
286,353
20,264
Page 24

The Idrfes Shah Foundation
Notes to the Financlal Statements for the Year Ended 31 March 2025
20 Creditors: amounts falling due wlthin one year
2025
2024
Trade credltors
Other taxation and soci81 security
Other creditors
Accruals
2,514
4,338
3,160
3.335
12,881
23,714
1,331
8.069
11,914
21 Funds
Balance at
Other
Incomlng Rasources recognised
resources
expende¢*ainslllos$esl
Balance at
31 March
2025
2024
Unrestricted funds
General Funds
900,687
70,796
1173.4811
11.418
809,420
Restrlctod funds
Books for Afghan Children
Project
Spanish Language
Project
676
676
4,070
4,070
4.746
4,746
Totsl funds
905.433
70,796
173.481)
11.418
814.166
Balance at
1 Aprll
2023
Other
Incoming Resources recognised
resources
expende{￿8￿￿81(I0s$e6}
Balance at
31 March
2024
Llnrestrlcted funds
General Funds
1.096,854
92,695
{235,387)
153,475)
900.687
Restricted funds
Books for Afgh8n Children
Proje
Spanish Language
Project
16,448
115,772)
678
4.070
4,070
4.746
20.518
15,772
Tot81 funds
1,117,372
251,159
153,475
905,433
Page 25

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
22 Analysls of net assets between fvnds
Unrestrlcted
funds
Ganeral
Total funds
at 31 March
2025
R05tr1cted
lunds
Intangible fixed assets
Tangible fixed assets
Current assets
Current liablliues
Investment properties
3.252
700
292,382
{11,914)
525,000
3,252
700
297,128
(11,914)
525.000
4,746
Totsl net assets
809.420
4.746
814,166
Unrestrictsd
funds
Genaral
Total funds
at 31 March
2024
Restricted
funds
Intangible fixed 8ssel$
Tangible fixed assels
Fixed asset investments
Current 8ssets
Current liabllities
4,019
4,052
843,247
73.083
123,7141
900,687
4,019
4.052
843.247
77,829
123,7141
905.433
4,746
Total nel assets
4.746
Pagg 26

The Idries Shah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
23 Related party transactions
During the year the charity made the following related party transactions..
During the year thè Charity entered into the following transactions with related partles.'-
Saira Safia and Tahir Shah are the children of Idries Shah and are the Tnjstees and beneficiaries of
the Idries Shah Estate. The Estste holds the wOrtd￿de IntellectU81 Property Rights of all of Idrles
Shah works.
These accounts include the fees for agreed Royaltles and Licences granted by the Estate of £7.480
12024.. £7.4801. Al the year end a sum of £1.50012024.. £1,500) in respecl of Royalties was owed to
the estate and is reflected within accruals.. Al the balance sheet date the amount due lolfrom was £Nil
12024- £Nil}.
Page 27