2024-12-31-accounts

RE615fERED IHARrrY NUMBER: 1156782 REPOftTOF THETRusfEES AND FOR THE YEAR ENDED 31 DECEMBER 2024 MAKfAB TAR16HAT OVEYSSI SHAHMAGHSOUDI MGR Weston Kay LLP ststutory Audltors 55 Loudoun Road Stjohn's Wood LorKlon NW8 ODL

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Refereft￿ and Admlnlstratlve Detalls Report of theTrustees 2 to 3 Statement of Trustees. Re5ponslbllttles Report of the Independent Audltors Statement of Hnanclal Artlvltles Balance Sheet io Notes to the Flnanclal Ststements 11 to 20

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI RÉFERENCE AND ADMINISTrATWE DEfAILS FOR THE YEAR ENDED 31 DECEMBER 2024 TRusfEES A Rezael E Arjmandl H Rahbari PRINQPAL ADDRESS 23 Edlson Road London N8 8AE REGisfERED CHARrrY NUMBER 1156782 AUDITORS MGR Weston Kay LLP Statutory Audltors 55 Loudoun Road Stjohn's Wood London NW8 ODL 8ANKERS Yorksh1￿ Bank 154 - 158 Kensington High Street London W8 7RL Co - Operative Bank 195 High Road Wood Green London N22 6DP soucrroRS Russell- Cooke Solicitors 8 8edford Row London WCIR 48X Page I

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI REPORT OFTHE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present thelr report wlth the flnanctal statements of the charlty for the year ended 31 Oecember 2024. The trustees have adopted the provlsions of Accountlng and Reportlng by Charltles: Ststernent of Recommended Practice appllcable to tharltles preparln8 thelr accounts In accordance with the Flnanclal Reportlng Stsndard applicable In the UK and Republlc of Ireland IFRS 102) (effective l January 2019). Name and Reglstered Office of the Charlty The full name of the Charlty Is Maktab Tari8hat Oveyssi Shahmaghsoudl Ischool of Islamlc Sufisml, Its registered office and prlncipal operating address Is 23 Edlson Road. Crouch End, London, N8 8AE. It is part of the global or8anlsation wlth the same name {the global organlsatlon herelnafter referred to as MTO). OBJECTIVES AND AcfiviTIES The objects are to establlsh the teachin& practice and advancement of the Islamlc ￿lIgIOn and educatlon In the United Kingdom and elsewhere around the world In accordance with the tenets and doctrlnes of Sufism as practiced by MTO. ACHIEVEMENTS AND PERFORMANCE The Charity was formed to take over the actlvitles of the registered Charltable Trust 1010542 whlth has the same objects and name as thls Charitab5e Incorporated Organisation. The transfer of operatlons whlch started at the end of 2014 has continued wlth only a few remalning vrrith the Trust. The ao is continulng the work of the Trust In promotln8 Sufism and educatlon as a part of MTO. This involves a programme of lectures and classes In the UK Includlng the ability to host webcasts from London to students throughout the world. These compliment the broadcasts of related MTO centres elsewhere In Europe and from the United States. The Charity contlnued to encourage the development of Suf￿rn at unlversitles and other educational instltutlons In the UK and to promote Inter-falth actl¥ltles and provide charltable donatlons or services and contrlbutlons In local communltles. Weekly lectures continued with In person sesslons at the London ontre with encouragement of attendees to follow all health and safety best practlce. The sesslons were also available online for the smaller UK centres. The Charity contlnued its efforts in Ilne wlth the wider MTO Global charitable endeavours. Thls Included the dlstrlbution of donatlons of non-perishable foods and dothing for the homeless or111 with V￿ltS to h05Pltals. The Charlty contlnued Its dlalo8ue and contrlbutions to Barnet Falth & Belief Forum and Haringevs Sustalnablllty projects In the year. The Charity contlnued its programmes of presentlng Sufl muslc, poetry, Zekr and Sama through varlous In person and onllne events induding performances in the UK and Canada. The Charity was also a small but slgnlficant contrlbutor to the efforts of the openlng of MACS MTO'S ftrst Museum dedicated to Sufism whlch opened In September 2024. As part of Its financlal and non-financial contrlbution, the Charity assisted in the contrartlng and procurlng of a speclallst and revolutionary holograrn comblnlng Al and hlstorlc footage of the Sufi Master. The tharity also provlded personnel for varlous actlvities at the Museum through the year. FINANCIAL REVIEW As detalled in the Statement of Finandal Activities, the Charlty'5 reserve5 at the year*nd amounted to £3,113,557 of unrestricted funds and £233,070 of restrlcted fiJnds. The ao wlll hold these reserves and further funds as they are recelved as a buffer for operating costs. In addition they are avallable to help support other ￿ntreS abroad or fund additlonal propertles In the UK for holdlng meetlnes and lectures as requlred. Page 2

MAKTA8 TARIGHAT OVEYS51 SHAHMAGHSOUDI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STrUCTURÉ. GOVERNANCE AND MANAGEMENT The Charity. a Charitable Incorporated OrKan15allon. was reelstered as a Charlty oft 28th April 2014. Re8iStration number: 1156782. The Constitutlon Is a CIO Foundatlon and was created by a Deed executed on the 27th F•brvary 2014. The trustees who served dvrin8 the year and up lo ihe date of *natuie of the flnan¢ial statement5 were.. A Rezaei E Arimandi H Rahbari None of the Trustees have been direct beneficlarbes of the Charlty durlng the year or the preced•ng year. No Trustees received any renumeration from the Charity durin8 the year12023- ÉNill. A Trustee is apF￿Inted by recornmendation ol the Trustees, or by proposal of a Trustee entltled to vote ai a meeting of the Charity. Indurtlon and tralnlni polldes for tr￿tee5 The Charlty follows the 8uldelines provlded by the Charity Commlsslon. Responslbllity of theTrustees The Trustees are responsible for the management of the Charity and fty the fvrtherance of the objects for whrch it is established. Trustees meet on a rwlar basls to dlscuss the affalrs of the Charlty Investment Powers The Trustees may invest the monies of the Charlty not irnmediately requlied for its purp05e5 in or upon such investrnents. Securities or property as may be thou8ht fiL Publlc Benefrt Requlrement The Trustee5 have due regard to the Butdance out under soction 17{5) of the Charltles Acr 2011. Or8ani5ation The day-to-day activities of the Charity are to be conducted from thelr premlses In London and Birtley and at rented premises in other Cities in the United Klngdom. Volunteers During the period variou5 indi¥iduols gave their time in suppothng the Charity's actfvities. The value of this SilPPOrt cannot be ￿adIlY quantified and has not been induded In the finanthl rtatements. Rtsk Management The Trusiee5 have assessed the major risks to whith the Chartty 15 exposed. in particular those related to the operation5 and finances of the Charlty, and are satisfted that systems are In place to mit¥ate ihe Charlty's exposure io the major risks. AUOITOAS The auditors, MGR Weston Kay LIP, will be proposed for re-appolnrment at the forrhcoming Annual General Meetin8. Approved by order of the board of trustees on 30 October 2025 and slgned on its behalf by. E Arimandi- Trustee Pa8e 3

MAKYAB TARIGHAT OVEYSSI SHAHPMGHSOUDI STATEMENT OF TRUSfEES' RESPONSIBILMES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees are responsible for preparln8 the Report of the Trustees and the financlal statements In accordance with applicable law and Unlted Kln8dom Accountlng Standards (United Kin8dorn Generally Accepted Accountlng pract1￿). Charity law requlres the trustees to prepare flnandal statements for each finandal year. Under that law, the trustees have elected to prepare the finandal statements in accoldan￿ wlth Unlted Klngdom Generalty Accepted Accountlng Prartlce Iunlted Kingdom AccountlnB Standards and appllcable law). Under charlty law the trustees must not approve the flnandal statements unless they are sattsfied that they 8lve twe and falr vlew of the state of affalrs of the charity and of the Incomlng resources and appllcatlon of resources, Includln8 the Sncome and expendlture. of the charlty for that perlod. In preparlng those financlal statements, the trustees are requlred to select sultable accountlng pollcles and then apply them consistentty: observe the methods and prlnoples In the Charities SORP: make Judgements and estlrnates that are reasonable and prudent: prepare the finandal statements on the zolng concern basis unltss It Is Inappropriate to presurne that the charlty wlll contlnue In business. The trustees are responslble for keepln8 proper accountln8 records whkh dlsdose wlth reasonable accuracy at any tlme the finandal posltlon of the tharlty and to enable them to ensure that the ftnandal statements comply wlth the Charltles Art 2011 and The Charlty (Accounts and Reports) Regulatlons 2008. Thw are also responslble for safeguardlng the assets of the charlty and hence for takin8 reasonable steps for the preventlon and detection of fraud and other Irregularities. Page 4

REPORT OF THE INDEPENDENT AUDITORS TOTHE TRUSTEES OF MAKfAB TARIGHAT OVEYSSI sHAN￿GH$OU0I Oplnlon We have audlted the financial statements of Maktab TarlBhat O¥eyssl Shahmagh50udi (the 'charltrf} for the year ended 31 December 2024 whlch comprise the Statement of Financial Activities, the Balance Sheet and notes to the ftnandal statements. indudln8 a summary of si8nificant accounting policie5. The finandal reportlng framework that has been applled In their preparation is appllcable law and United Kingdom Accountlng Stsndards (Unlted Kingdom Genernlly A¢cepted Accounting Prartlo). The ¢omparatlve fi8ures have not been audited. In our oplnlon the finandal ststements: Blve a true and falr vlew of the state of the tharlVs affalrs as at 31 tlecember 2024 and of Its Incomlng resources and appllcatlon of resources. for the year then ended- have been properly prepared in accordance with Unlted ￿ngdoM Generalty Accepted Accountlng PnctI￿. and have been prepared In accordance wlth the requlrements of the Charltles Act 2011. Basls for oplnlon We conducted our audlt In accordance wlth Intematlonal Standards on Audltlng (UK) (ISAS IUKII and appllcable law. Our responslblllties under those stsndards are further described In the Audltors, re5ponslbllities for the audlt of the financlal statements sertlon of our report. We are Independent of the charlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the financlal ststernents In the UK In<ludln8 the FRC'S Ethlcal Standard, and we have fulfilled our other ethical responslbllltie5 In accordance wlth these requlrements. We belleve that the audlt evldence we have obtaSned Is sufficient and approprlate to provlde a ba51s for our oplnlon. Concluslon$ relatln8 to 8oln8 COn￿n In audltlng the flnandal statements, we have conduded that the tn￿tee$, use of the 8oln8 concem basts of accountlng In the preparatlon of the financlal statements Is appropriate. Based on the work we have performed, we have not Identified any materlal uncertalntles relatlng to events or condltions that, indlvldually or collectfvely, may cast slgnificant doubt on the charity's ablllty to contlnue as a 8oln8 concern for a perlod of at least twelve months from when the flnancial statements are authorlsed for Issue. ¢JJr responslbllitles and the responslbllltles of the trustees wlth re5pert to 8oln8 concern are desulbed In the relevant sectlons of thls report. Other Inforn¥tlon The trustees are responslble for the other Information. The other Informatlon comprlses the Informatlon Induded In the Annual ReporL other than the financlal statements and Ouf Report of the Independent Audltors thereon. Our oplnlon on the finandal statements does not Cover the other Inforrnatlon and, except to the extent otherwlse expllcltly stated In our repor¢ we do not express any fomi of assurance conduslon thereon. In connectlon wlth our audlt of the finandal ststements, our responslblllty Is to read the other Information and, In dolng 50. conslder whether the other Inforniatlon Is materially Inconslstent wlth the finandal statement5 or our knowledge obtalned In the audlt or othefwlse appears to be materlally mlsstated. If we identify such materlal Inconsistendes or apparent materlal mlsstaternents, we are requlred to determine whether this gives rlse to material m155tstement in the finandal statements thernselves. If, based on the work we have perforrned, we conclude that there Is a materlal m555tatement of thls other infomiatlon, we are requlred to report that fact. We have nothln8 to report In thls regard. Matters on whlth we are requlred to report by exceptlon We have nothing to report in respert of the followlng matter5 where the Obarltles (Accounts and Reports) Re8ulations 2008 requires US to report to you if, in our oplnion.. the Inforrnatlon given In the Report of the Tntstees 15 Inconsistent In any mateiial respect wtth the financlal statements; or sufficlent accountin8 records have not been kept: or the financial statements are not In agreement wlth the accountlng records and returns: or we have not reoived all the informatlon and explanations we require for our audiL Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MAicfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI Responslbllltles of trustees As explalned more fully In the Statement of Trustees, Responsibilltles, the trustees are responslble for the preparatlon of the financlal statement5 whlch give a true and falr vlew, and for suth Internal control as the trustees detemSne is necessary to enable the preparatlon of flnancial statements that are free from material misstatemenL whether due to fraud or error. In preparlng the flnanclal ststements. the trustees are responslble for assesslng the charlty's ablllty to contlnue as a going concern, dlscloslng, as appllcable, matters related to going concern and using the goln8 concern basls of accountSng unle$5 the trustees elther Intend to Ilquldate the charlty or to cease operatlons, or have no reallstlc alternat￿e but to do so. Page 6

REpoKf OFTHE INDEPENDENT AUDITORS TO THE TRusfEES OF MAKTAB TARIGHAT OVEYSSI SHAHMAGHSOUDI Our responsThi Irrtles for the audlt of the finandal siatements We have been appolnted as auditor5 under Section 145 of the Charlties Act 2011 and report In accordance with the Act and relevant re8ulatlons made or having effert thereunder. Our obJectTves are to obtain reasonable assurance about whether the financial ststements as a whole are free from material mi55tatemenL whether due to fraud or error, and to issue a Report of the Independent Audltors that ndudes our oplnlon. Reasonable assurance is a hlgh level of assuran￿, but Is not a guarantee that an audlt COTxlucted in accordano with ISAS (UK) will always detect a material misstatement when it exlsts. Mlsststements can ar15e from fraud or error and are considered material Éf. indivldually or in the aggregate. they could reasonably be expected to Influeno the econornic decisions of users taken on the basis of these finanaal statements. The extent to which our prucedures a￿ capable of detectlre Irrwlarities, indtsding fraud is detailed below: The extent to whlth our procedures are capable of detectln8 Irregularftles. Indudlng fraud Irregularities, including fraud, are in5tance5 of non<0Mplon￿ wlth laws and regulatlons. We deS￿n procedures In line wtth our re5ponsibllities, outlined above. to detect material misstatements in respect of Irregularities. Indudlng fraud. The extent to which our procedures are capable of detectlng irregularttles. indudlng fraud Is detalled below. As part of our plannlng of the audit work required we obtained an under5tandlng of the le8•1 and regulatory frameworks that are appllcable to the entity via enquiries of the company's managemenL carried out analytlcal Pro￿dUres. held discusslons amongst the engagement team and using knowledge of the sertor detem)ined that the most snfficant laws and regulation are those that relate to: - Health and safety regulatlons. - Data Protection. - a)arities Att 2011. We also consldered those laws and regulions that have a dlrect Impart on the preparatlon of the finandal statements sudi as Charities SORP and FRSIOI Based on the results of our risk assessment we deslgned our audit procedures to Identlfy non<ompllance with the laws and re8ulations and the fraud rlsks Identffied. This induded enquirles with management to understand thelr polides and procedures for Compl[an￿ wlth those regulations and we completed the following tests: 4)btained an understanding of relevant control5. - Revlewed the company's rlsk assessrnents, procedures and systems. - Checked Samples of documentation. - Checked sample5 of docurnentatlon IncludI￿g mlnutes of the meetin8s of the trustees and Servi￿ agreements wlth regulatory advisors. We also assessed the risks of material misststement in respert of fraud as follows: - Revenue fraud. - Unauthorised expendlture andlor paymen - fvlanagement overrhle of controls. - Manipulation of accounting estimates. - Related party fraud. Based on the results of our risk assessment we desi8ned our audlt procedure5 to identify and to address materfal mlsststements In relation to fraud. This induded the Tlsk of management bias relating to judgements and assumptlons used in the valuln8 the investment properties. No s18nlficant1ssues were identlfled during our testln& Page 7

REPORT OF THE INDEPENDENf AUDITOR5 TO THE TRUSTEES OF MAKTAB TARIGHAT OVEYSSI SHAHMAGHSOUDI There are Inherent Ilmltatlons In the audlt procedures described above and the primary respon5ibllity for the prevention and detertlon of Irre8ularltle5 including fraud rests wlth management. As wlth any audlt, there remalned a rlsk of non-detectlon of Itregularities, as these could Involve colluslon, forgery• Intentlonal OMI￿lOn$. mlsrepresentatlon5 or the overrlde of Intemal controls. A further descrlptlon of our responslbllltle5 for the audlt of the flnanclal ststements Is located on the Flnancial Reportin8 Councll's webslte at www.frc.or8.uklaudltorsresponslbllltles. Thls descrlptlon forms part of our Report of the Independent Auditors. Use of our report This report Is made solely to the charlty's trustees, as a body, In accordan￿ with Part 4 of the CharitSes (Accounts and Report51 Regulatlons 2008. Our audlt work has been undertaken so that we mlght state to the charlty's trustees those matters we are requlred to state to them ID an audltors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or a55ume responslblllty to anyone other than the charlty and the tharlty's trustees as a body. for our audlt work, for thls repork or for the oplnlons we have formed. MGR Weston Kay LLP ststutory Audltors 55 Loudoun Road St John's Wood London NW8 ODL 31 Ortober 2025 Nl8el Walfisz FCA Page 8

MAKfAB TARIGHAT OVEY5SI SHAHMAGHSOUDI STATEMENf OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2024 3L12.24 Total funds 31.12.23 Totsl funds Unrestrlcted fund Restrlcted fund INCOME ANO ENDOWMENTS FROM Donation5 and le8acles 238.099 27.456 265,555 156,099 Charftsble a£tlvltles Charltsble actlvity 205 205 874 Inve5trnent Income Other Income 79.476 9,544 79,476 9.544 71,219 10,202 Totsl 327,324 27,456 354,780 238.394 EXPENorruRE ON Ralslng funds 14,720 14.720 3.787 Charltable actlvltles Charitable actlvlty Share of governance c¢stS 289,259 22,924 439 289,698 22,924 58,953 5,174 Total 326,903 439 327,342 67,914 Net 8alns on Investments 25,000 NEf INCOME 421 27,017 27,438 195.480 RECONCILIATION OF FVNDS Total funds brou8ht forward 3,113,136 206.053 3,319.189 3,123,709 TOTAL FUNDS CARRIED FORWARD 3,113,557 233,070 3,346,627 3,319,189 The notes form part of these flnancial Statements

MAKTAB TARIGHAT OVEYS515HAHMAGH50UDI BALANce SHEET 31 DECEMBER 2024 31.12.24 31.IZ.23 Notes FIXED ASSErs Tan8ible asset5 Heritage assets Investment propertv 14 15 16 824,046 21.824 1.050.OtKI 840.673 21,824 i.oso.ooo IA95,870 1.912,497 CURREKf ASSETS Debtors Cash at bank 17 60.923 1.4S6,487 36.299 1.439,789 L517.410 1.476.088 CREDITORS Arnounts falllng due wlthin one year 18 166.653) 169.3961 Nrr CURRENT ASSETS L450.757 1.406.692 TOTAL ASSETS LESS CURRENT LIABiullES 3,346.627 3319.189 NEf AS5EtS 3,346,627 3.319,189 FUNDS Unrestricted fvnds Restricted funds 20 3.113.557 233,070 3.113.136 206.053 TOTAL FUNDS 3,346.627 3.319.189 The finaneial statements were approved by the 8oard of Trustees and authorised for issue on 30 Ortober 2025 ond were signed on irs behalf by.. E Arjmandi- Trustee The notes form part 0¢ these flnanclal statements Page 10

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL sfATEMEpifs FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES Basls of preparln8 the ftnandal ststements The financlal statements of the tharlty, which ts a public benefit entity under Ffts 102, have been prepared in accordan￿ wlth the Charitles SORP (FRS 102) 'Accounting and Reportlng by Charities: Statement of Recornmended Practlce applicable to tharltles preparing their accounts In accordance with the Financial Reporting Standard appllcable In the UK arml RepublSc of Ireland (FRS 1021 {effertNe l January 2019),. Flnandal Reportln8 Standard 102 The Flnandal Reportlng Standard applicable in the UK and Republlc of Ireland, and the Charltles Act 2011. The finandal statements have been prepared under the htstorical cost conventlon, as modlfied by the revaluatIon of certaln assets. Golng concèrn At the tlme of approvlng the finandal statements, the trustees have a reasonable expectatlon that the charlty has adequate resources to contlnue In operatlonal exlsteno for the foreseeable future. Thus the trustees contlnue to adopt the 8olng concern basls of accountln8 In preparSng the finandal ststements. In£omlng r•Jourtes Donatlons are accounted for on a cash recefvable basls. Rent recelvabje ts accrued for on a day to day basts. Income from Ilsted Investments Is accounted for at the date It Is dedared. Interest Income Is accounted for on an accruals basls. Income from tharltsble a¢tlvltles Is rewnlsed when condltlons of recelpt have b•en met and there Is reasonable assurance of recelpL Other Incomlng fesources are accounted for when condltlons for recelpt have been met and there Is reasonable assurance of recelpt. Resources expended All eJ¢pendlture Is accounted for on an accruals basls and has been Induded under expense cate8orles that a8gre8ate all costs for allo¢atlon to actfvltles. Governano costs are those cost InCu￿ed In the mana8ement of the tharlty's assets, organlsational admlnistration, and ¢ompllance wlth constltutlonal and statutory requlrernents. Charltable actfvitles Indude costs of servlces and support Costs and depredation on related assets. Costs of ralsin8 funds are those associated wlth rentsl and Investment Incorne. Charltable funds General unrestrtcted fvnds represent unrestrirted income whlth 15 expendable at the dlscretlon ot the Trustee5 in furtherance of the objects of the charity. Suth funds may be held In order to flnan¢e worklng capltal. Restrlcted funds represent Income received whlch are allocated by the donor for spedfic purposes which are therefore not avallable for ot￿r purposes. Tang￿1 le fixed assets Depreaation is provided at the followln8 annual rate5 In order to wrlte off eath asset over Its e5tlmated useful Pace 11 contlnued...

MAKfAB TARIGHAT OVEY551 SHAHWGHSOUDI NOTES TO THE HNANaAL STATEMENTS- contlnued FOR ThE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- ¢￿tInUed Tangible fixed assets Freehold property Plant and machlnery Fixtures and flttin85 2% on cost 25% on reduclng balance 25% on reducin8 balance Herltage assets The nature of heritage assets held by the charity are artwork and statues. Herltage assets are measured initially at elther thelr cost or valuation if the heritage asset has been donated unless thSs Infomiatlon Is not avallable and such information cannot be obtained at a cost comrnensurate with the benefit to the user5 of the accounts. Heritage assets are not revalued. Investment property Investment properties, whlch are properties held to earn rentals andlor for capitsl appreclatlon, are measured using the falr value model and stated at their estlmated falr values as the reportln8 end date as determlned by the Trustees. There Is no depreclation charged on Investment propertles. The surplus or defiat on revaluation is recognised In the statement of financlal artivities. Taxatlon The charity is exempt from tax on income and 6alns falllng wlthln the Taxes Act 1988, s. 505 or the Taxatlon of Chargeable Gains Act 1992, s. 252 to the extent that these are applled to Its charltable objectives. The charity is not VAT re8i5tered. A5 such the expendlture Is shown Induslve of VAT. Forelgn curren¢les Transactions denominated In forelgn currencles are recorded at the rate rulln8 at the date of transactlon. Monetary assets and Ilabllltles denomlnated In forei8n currencles are translated Into sterllng at the rates of exchange ruling at the balance sheet date. All dlfferences are included in net outgoing resources. Cash and cash equlvalents Cash and cash equlvalents include cash In hand, deposlts held at call wlth banks and bank overdrafts. Bank overdrafts are shown withln borrowings in current liabilities. Credltors Creditors are recognlsed where the tharity has a present obllgatlon resultlng from a past event that will probably result In the transfer of funds to a thlrd party and the amount due to settle the obligation can be measured or estimated rellably. Creditors are nomially reco8nised at their settlernent amount. Page 12 contlnued...

MAirfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL sfATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTrMATION UNCERTAINTY In the appllcatlon of the charltls accountlng pollcies, the trustees are requlred to makejudgements. e5tlmates and assumptlons about the carrying amount of assets and Ilabllltles that are not readlly apparent from other sources. The estlmates and assoclated assumptions are based on historScal experlence and other factors that are consldered to be releydnt. Actual results may differ from these estlmates. The estlmates and underlylng assumptlons are revlewed on an ongolng basls. Revlslons to aca)untlng estlmates are recognlsed In the perlod In whlch the estlmate Is revlsed where the revlslon affects only that perlod, or In the perlod of the revlslon and future perSods where the revlslon affects both current and future perlods. Valuatlon of Investment propertles As descrlbed In the notes to the flnanclal statements, Investment Pfopertles are stated at falr value. The trustees used observable market Pr1￿5. DONATIONS AND LEGAaES 3L12.24 31.1223 Donatlons 265,555 156,099 INVEsfMENT INCOME 31.12.24 31.12.23 Rents recelved Interest recelvable 66,824 12,652 62,024 9,195 79,476 71,219 INCOME FROM CHARrrABLE AcnvrriES 31.12.24 Charltable actlvlty 31.12.23 Total actlvltles Books and publlcatlons 205 874 OTHER INCOME 31.12.24 3L12.23 Glft ald 9,544 10,202 Pa8e 13 contlnued...

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL STATEMErirs- ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2024 RAISING FUNDS Investment management Costs 31.12.24 31.12.23 Investment property costs 14,720 3,787 CHARITABLE ACTIVITIES COSTS Dlrect Costs (see note 9) Support Costs (see note 101 Totals Charitable actlvlty Share of governano costs 289,698 289,698 22,924 22,924 289,698 22,924 312,622 DIREcf COSTS OF CHARITABLE AcfiviTIES 3LIZ.24 31.12.23 Insuran Utlllties Telephone Postage and statl(mery Advertlslng General expenses Bank service charge Legal and professional fee5 Repairs and maintenance Security Grants payable Travel and subsistence Venue hlre Depreclation 18,208 8,700 2,632 68,503 365 115,091) 7,866 10.267 5,013 958 550 4,043 6,762 824 155 166.284 2.617 13,108 16,623 1,883 1,419 165 17.270 289,698 58,953 Page 14 continued...

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL sfATEMEKfs- conllnued FOR THE YEAR ENDED 31 DECEMBER ZOZ4 10. SUPPORT COSTS rinance Share of governance costs 22,924 Support costs, Included in the above, are as foll0v￿. Flnance 31.12.24 Share of governance ¢osts 31.12.23 Total actlvltles Audit fees Independent examiner fees 22,924 5,174 22,924 5,174 ii. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses There were no tru5tee5' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees The avera8e number of trtsstees durlng the year wa$ 3 (2023: 31. No Trustee, or person related or connected by buslness to them, recelved any remuneratlon or beneffts In klnd from the Charlty during the year. Durlng the year, no trustees (2023: none) received ￿1Mbur$eMent of travel, subslstence and other expendlture. Page IS contlnued...

MAKfA8 TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL sfATEMENTS- contknued FOR THE YEAR ENDED 31 DECEMBER 2024 EMPLOYEES There were no employees during the year. COMPARATIVES FOR THE 5fATEMENT OF FINANCUIL AcrivmES Unrestrkled Restrkted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and le8aaes 144,884 11,215 156,099 Charitable actlvltles Charitable activity 874 874 Investment Income Other Income 71.219 10.202 71,219 10,202 Total 227.179 11.215 238,394 EXPENDrruRE ON Ra￿Ing funds 3.787 3,787 Charttable artlvltles Charitsble activity Share of governance costs 58,953 5.174 58,953 5,174 Total 67,914 67.914 Net 8ains on investments 25.000 NEf INCOME 184,265 IL215 195.480 REC0NaUAT￿N OF FUNDS Total fund5 brought forward 2?28,871 194,838 3.123.709 TOTAL FUNDS CARRIED FORWARD 3,113,136 206.053 3,319.189 Page 16 contlnued..

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL sTATEME￿￿- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Flxtures and flttln8$ Freehold property Plant and machlnery Tota COST At ljanuary 2024and 31 December 2024 935,692 15,765 39,974 991,431 DEPRECIATION At ljanuary 2024 Charge for year 102,794 14,714 14,587 296 33,378 1,616 150,759 16,626 At 31 December 2024 117.508 14,883 34,994 167,385 NEf BOOK VALUE At 31 December 2024 818,184 4,980 824,046 At 31 December 2023 832,898 L178 6,596 840,672 HERITAGE ASSETS Total MARKEf VALUE At l January 2024 and 31 December 2024 21,824 NET BOOK VALUE At 31 Deomber 2024 21,824 At 31 December 2023 21,824 i& INVESfMENf PROPERTY FAIR VALUE At ljanuary 2024 and 310ecember 2024 I,oso.000 NEf BOOK VAWE At 31 December 2024 1,050,000 At 31 December 2023 1,050,000 The Imiestrnent property are stated In the accounts at the Trustees, estimate of market value at the balance sheet date. There has been no valuation by an independent party. Page 17 contlnued...

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANaAL sfATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2024 17. DE8TORS: Amourirs FAWNG DUE WITHIN ONE YEAR 31.12.24 31.1123 Trade debtors Other debtOTS Owed by 8roup undertaklngs Prepayments and accrued Income 212 2,310 27,914 30,487 231 1,555 18,550 15,963 60,923 36,299 i& CREDITORS: AMouKfs FALLING DUE WITHIN ONE YEAR 31.12.24 3L12.23 Trade ttedltors Other credltars 20,813 45,840 21,595 47,801 66,653 69,396 19. ANALYSIS OF NET Assrfs BEfwEEN FUNDS 3L12.14 Total fund5 31.12.25 Total fundi Unrestrl¢ted fund Rfjstrlrtod fund Flxed assets Investments Current assets Curient Ilablllties 845,870 1,050,000 1,284,340 (66,6S31 845,870 1,050,000 1,517,410 166,653) 862,497 1,050,01]0 1,476,088 (69,3961 233,070 3,113,557 233,070 3,346,627 3,319,189 MOVEMEKf IN FUNDS Net movement In funds At 31.12.24 At 1.1.24 Unrestrlcted funds General fund 3,113.136 421 3,113,557 Restrfrted funds Restrlcted fund 206,053 27,017 233.070 TOTAL FUNDS 3,319,189 27,438 3,346,627 Page 18 contlnued...

KfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FIt4ANCIAL sfATEMEIITS. umlinued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- wnllmied Net movement In funds. induded in the above are as follows: Intomln8 resources Resource5 Movement expended In lunds Unrestrfrted funds General fund 327324 {326.9031 421 Restrlrted funds Restrlcted fund 27.456 {439) 27,017 TOTAL FUNDS 354.780 {327,342) 27,438 Comparatlves movement In fun¢ts Net movement In funds At 3L12.23 At LL23 Unrestrlcted lunds General fund 2.928.871 184.265 3,113,136 Restrltted funds Restrirted fund I94￿38 11,215 206,053 TOTAL FUNDS 3,123,709 195,480 3,319,189 Cornparative net movement In fvnds, induded in the above are as follows: Incomlng Resouros expended Galn$ and losses Movement In funds Unrestrlrted fvnd5 General fund 227.179 {67314J 25,000 184,265 Restrlrted funds Restrlrted fund IL215 11.215 TOTAL FUNDS 23&394 {67,914) 25,000 195,480 Sufflcient fund5 are held In an approprkte forni to enable eath fvnd io be applled In accordance with the restrictions imp05ed. The restrlcted funds TAtre e5tabUshed as the result of dlrertlons 8lven by donors whlch speafied that the money was to be used in relatlon to Sada8heh. Page 19 contlnued...

MAKfAB TARIGHAT OVEYSSI SHAHMAGHSOUDI NOTES TO THE FINANCIAL STATEMENfs. ¢onllnued FOR THE YEAR ENDED 31 DECEMBER 2024 21. RELATED PARTY DISCIOSURES Related party debtors IrKlude5 £30.22412023- £18.970) due from Mro TrusL Rental Income indudes £20.(MJO {2023 - £20.IXJO) of rent recelved from l¥ffo College. 22. LESSOR At the balan￿ sheet date the tharity had lessor commltments for futyre minimum operating lease payments not later than one year of £14.7￿) {2023: £Nil). Page 20