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← Ilyas Trust Limited

2024-10-31-accounts

Company Registration Number - 08751093

The Charity Registration Number is :- 1157472

Ilyas Trust Limited by Guarantee

Report and Accounts

31 October 2024

Ilyas Trust Limited by Guarantee

Report and accounts for the year ended 31 October 2024

Contents

Page
Charity information 1
Trustees' Annual Report 2
Statement of directors' responsibilities 6
Examiner's Report 8
Funds Statements:-
Statement of Financial Activities 10
Statement of Financial Activities - Prior Year statement 11
Statement of total recognised gains and losses 12
Movements in funds 12
Revaluation reserves 12
Revenue Funds 12
Fixed Asset funds 12
Income and Expenditure account 12
Summary of funds 12
Balance sheet 14
Cash flow statement 16
Notes to the accounts 18

Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

The Trustees present their Report and Accounts for the year ended 31 October 2024, which also comprises the Directors' Report required by the Companies Act 2006.

Reference and administrative details

The charity name.

The legal name of the charity is:- Ilyas Trust Limited by Guarantee

The charity is also known by its operating name, N/A

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1157472

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

1

Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

The principal operating address, telephone number, email and web addresses of the charity are:-

11 Membury Road Birmingham B8 1QN

Telephone : 0121 688 1515 Email: ilyastrust@gmail.com Website: www.ilyastrust.org.uk

The registered office of the charity for Companies Act purposes is the same as the operating address shown above.

The Trustees in office on the date the report was approved were:-

M Arshad M Harris M Anwar

The following persons served as Trustees during the year ended 31 October 2024 :-

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

M Arshad M Harris M Anwar

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

The charity's objects and principal activities as set out in the memorandum and article of association continue to advance the education of children in Pakistan in particular but not exclusively by the establishment and running of a school.

The main activities undertaken in relation to those purposes during the year.

The charity main objective is to provide free education to children aged 7-16 years. The has now been constructed in Pakistan in the area Okara. The charity has now appointed Ilyas Education Foundation in Pakistan to lead with the day to day operations of the schools. The head teacher has now been appointed, and the school will continue to run as facility to educated children, in English, Maths and Arabic lessons from the most deprived backgrounds.

2

Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

The main activities undertaken during the year to further the charity's purpose for the public benefit.

The main objective for this year was raise more awareness amongst the public in the United Kingdom for the collection of donations. The charity has raised awareness with the member of public by attending free events and participating in events in order to receive more donations.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity in E&W.

The short term and longer term aims and objectives.

The Development Plan of the running of a school is reviewed on an annual basis. The Board of Trustee held a meeting in October 2024 to consider its current scale of operations of the school. The Board of Trustee are currently satisfied with the progress of school. The current year donations have helped complete the construction of the school and the first stages of now running lessons from the schools providing children with education factilities as well as equiping them with uniform, school books and stationery.

How the activities undertaken during the year contributed to the achievement of the aims and objectives.

The charity has been on a waiting list with local mosques and community centres to allow more fundraising opportunities. The charity will continue to raise awareness of its objectives by attending and participating in more events to fund raise further. The charity is looking to reach out to clothing banks to generate funds from the sale of old clothing. Ilyas Trust has focus on raising funds from individuals who have been committed over the years and are nowhave completed the construction work due to the donations received. The school is now fully operational to provide education and resources for the childrens from the local disadvantage area.

Resources used in the activities undertaken during the year.

The building work of the school has now been completed in Pakistan for the development of a school as set out in the initial objectives. The school is now fully operational and teachers are now employed in Pakistan to continue with teaching actvitites for the school.

Social investment policies and how these contributed to the achievement of charity's aims and objectives during the year.

There are no social investment policies in place.

The contribution of volunteers during the year.

The Board of Trustees have been the volunteers during the year.

3

Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

Grant making policies and how these contributed to the achievement of the charity's aims and objectives during the year.

There are no grant making policies in place and therefore no contributions have received.

The main achievements and performance of the charity during the year.

The charity main objective is to build a school in Pakistan in order educate deprived children in a place in Okara in Pakistan. The work has now been complete and the school is in operational.

Fundraising activities during the year.

The fundraising activity has consisted of donations from individuals, mosque, community centries and by local businesses.

The difference the charity's performance during the year has made to the beneficiaries of the charity.

The charity was committed to build a school which has now been completed. The charity will continue to maintain the running of the school for the deprived children aged 7-16 years in a place in Okara in Pakistan. The beneficiary are the children who have now given the opportunity to be educated in the school.

The degree to which the achievements and performance during the year have benefited wider society.

Fund raising has been quite sucessful for the year and the Board of Trustees will look for further directions on fundraising on a larger scale.

The significant charitable activities undertaken in the year.

The charity has participated in free events in order raise awareness of the objective of the charity. The Board of Trustees will be looking to broadcast their charity to raise awareness of the cause.

How the achievements during the year measure up to the objectives set.

4

Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

The charity has now met is objective, i.e. building a school and now will focus on the cost of running the school, i.e. teaching costs and resources for the school to provide a solid education support to the school for the children.

p g j

Expenditure incurred in the year in order to raise income in the future.

The Charity has expended towards travel costs associated with raising funds.

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

The Board of Trustees have the right to appoint a new charity trustee based on unanimous votes obtained by the current Board of Trustees.

The trustees' bankers and advisors

Bankers Barclays Bank, Leicester. SME Outsourcing, Suite 5, The Cloisters, 11-12 George Road, Birmingham, B15 Accountants 1NP

Financial review

The charity's financial position at the end of the year ended 31 October 2024

The financial position of the charity at 31 October 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Designated Revenue Funds
Designated Fixed Asset Funds
Total Unrestricted Funds
Restricted Revenue Funds
Restricted Fixed Asset Funds
Total Restricted Funds
Unrestricted revaluation reserve
Net income
Unrestricted Revenue Funds available for the
general purposes of the charity
Restricted revaluation reserve		 2024
£
13,186
-
-
-
13,186
52,207
-
-
52,207		 2023
£
42,743
-
-
-
42,743
13,286
-
-
13,286

5

Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

Total Funds 65,393 56,029

Financial review of the position at the reporting date, 31 October 2024

The trustees consdier the financial performance by the charity during the year to have been satisfactory.

The costs construction of the building has been capitalised under fixed assets.

Availability and adequacy of assets of each of the funds

The Board of Trustees are satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Plans For the Future

Summary of plans for the future and the trustees' perspective of the future direction of the charity.

The Charity's long term goals and objectives was to ensure that the school in Pakistan is built and regular donations are received by the Charity in order to support the day to day runninng of the school for the benefit of the deprived children who will be privilaged to be educated to further their opportunites for their future working careers. The Charity will continlue to fund the runnings costs for the school.

Employment of disabled persons

Ilyas Trust has not employed any staff member but will be looking into recruitment when the school has been built. Ilyas Trust will be encouraging the promotion of disability persons employment for the School.

Statement of the Directors' and Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

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Ilyas Trust Limited by Guarantee

Company Registration Number - 08751093

Trustees' Annual Report for the year ended 31 October 2024

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the accountant preparing the accounts has no responsibilities in relation to the Trustees' report.

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 12 to 20.

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 14 June 2025.

Mohammad Arshad Director and Trustee

7

Report of the Independent Examiner to the trustees

on the accounts of the Charity for the year ended 31 October 2023

I report on the financial statements of the Charity on pages 10 to 14 for the year ended 31 October 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard for Smaller Entities (FRSSE), effective April 2008, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 as modified in June 2008. (The SORP), under the historical cost convention and the accounting policies set out on page 15.

Respective responsibilities of trustees and examiner

As described on page 6, the Charity's trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements.

The trustees are satisfied that the audit requirement of Section 144(1) of the Act does not apply and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the charity is not subject to audit under company law, or otherwise, and is eligible for independent examination, it is my responsibility to:-

a) examine the accounts under section 145 of the Act;

b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;

c) to state whether particular matters have come to my attention.

Basis of opinion and scope of work undertaken

I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales setting out the duties of an independent examiner issued by the Charity Commissioners under section 145(5)(b) of the Act) in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.

The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters.

Subject to the limitations upon the scope of my work as detailed above , in connection with my examination , I can confirm that

1) Independent Examiner's Statement, report and opinion In accordance with Regulation 31 of The Charities (Accounts and Reports) Regulations 2008, (The Regulations) the accounts of this incorporated charity are not required to be

2) the acco u nts are being examined in the circumstances specified in Regulation 34(3)(b), and the date when the Commission dispensed with the requirements of section 144(1) of the Act was 27 July 2015.

3) this is a report in respect of an examination carried out under section 145 of the Act and in accordance with any directions given by the Commission under subsection (5)(b) of that section which are applicable;

and that, no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements

(i) to keep accounting records in accordance with section 386 of the Companies Act 2006;

(ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of

8

section 396 of the Companies Act 2006 and;

(iii) that the financial statements be prepared in accordance with the methods and principles set out in the Statement of Recommended Practice - Accounting and Reporting by Charities

have not been met; or to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached;

In accordance with Regulation 31 of The Charities (Accounts and Reports) Regulations 2008, I confirm that the accounts are not required to be audited under Part 7 of the Companies Act 1985.

Signed:-

A Hussain

Accountant SME Outsourcing Suite 5, The Cloisters 11-12 George Road Birmingham B15 1NP

This report was signed on 14 June 2025

9

Ilyas Trust Limited by Guarantee - Statement of Financial Activities for the year ended 31 October 2024

Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 October 2024, as required by the Companies Act 2006)

Current year
Unrestricted
Funds
2024
£
Income & Endowments from:
Donations & Legacies
A1
32,838
Expenditure on:
Charitable activities
B2
17,460
Total expenditure
B
17,460
Net income for the year
15,378
Net income after transfers
A-B-C
15,378
15,378
Reconciliation of funds:-
E
Total funds brought forward
56,029
Total funds carried forward
71,407
SORP
Ref
Net movement in funds		 Current year
Restricted
Funds
2024
£
-
-
-
-
-
-
-
-		 Current year
Total Funds
2024
£
32,838
17,460
17,460
15,378
15,378
15,378
56,029
71,407		 Prior Year
Total Funds
2023
£
34,520
10,849
10,849
23,671
23,671
23,671
32,358
56,029

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All activities derive from continuing operations

The notes attached on pages 19 to 20 form an integral part of these accounts.

==> picture [352 x 100] intentionally omitted <==

----- Start of picture text -----
Prior Year Prior Year Prior Year
SORP
Ref Unrestricted Restricted Total Funds
Funds Funds
2023 2023 2023
£ £ £
Income from:
Donations & Legacies A1 - - 34,520
----- End of picture text -----

10

Ilyas Trust Limited by Guarantee - Statement of Financial Activities for the year ended 31 October 2024

Total income
A
-
Expenditure on:
Charitable activities
B2
-
Total expenditure
B
-
Net income for the year
-
Net income after transfers
-
-
Reconciliation of funds:-
E
Total funds brought forward
32,358
Total funds carried forward
32,358
All activities derive from continuing operations
Net movement in funds		 -
-
-
-
-
-
-
-		 34,520
10,849
10,849
23,671
23,671
23,671
32,358
56,029

Ilyas Trust Limited by Guarantee - Resources applied in the year ended 31 October 2024 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Net resources available to fund charitable activities		 2024
£
15,378
(15,479)
(101)		 2023
£
23,671
(13,740)
9,931

The resources applied on fixed assets for charity use represents the cost of additions.

The notes attached on pages 19 to 20 form an integral part of these accounts.

Movements in revenue and capital funds for the year ended 31 October 2024

Revenue accumulated funds

Accumulated funds brought forward
Recognised gains and losses before transfers		 Unrestricted
Funds
2024
£
56,029
15,378
71,407		 Restricted
Funds
2024
£
-
-
-		 Total
Funds
2024
£
56,029
15,378
71,407		 Last year
Total Funds
2023
£
32,358
23,671
56,029

11

Ilyas Trust Limited by Guarantee - Statement of Financial Activities for the year ended 31 October 2024

Closing revenue funds
Summary of funds
Revenue accumulated funds		 71,407
-
Unrestricted
Restricted
and
Funds
Designated funds
2024
2024
£
£
71,407
-		 71,407
Total
Funds
2024
£
71,407		 56,029
Last Year
Total Funds
2023
£
56,029

The notes attached on pages 19 to 20 form an integral part of these accounts.

Ilyas Trust Limited by Guarantee

Income and Expenditure Account for the year ended 31 October 2024 as required by the Companies Act 2006

Income
Income from operations
Gross income in the year before exceptional items
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Realised losses on disposals of social investments which are programme related
Total expenditure in the year
Tax on surplus on ordinary activities
Retained surplus for the financial year
Net income after tax in the financial year
Net income before tax in the financial year
Investment income		 2024
£
32,838
32,838
32,838
17,460
-
1,000
-
18,460
14,378
-
14,378
14,378		 2023
£
34,520
34,520
34,520
10,186
-
663
-
10,849
23,671
-
23,671
23,671

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

12

Ilyas Trust Limited by Guarantee - Statement of Financial Activities for the year ended 31 October 2024

The notes attached on pages 19 to 20 form an integral part of these accounts.

13

Ilyas Trust Limited by Guarantee - Balance Sheet as at 31 October 2024

Note
SORP
Ref
2024
£
Fixed assets
A
Tangible assets
9
A2
52,206
Current assets
B
Cash at bank and in hand
B4
14,306
13,990
Net current assets
13,186
The total net assets of the charity
65,392
Restricted funds
Restricted Revenue Funds
11
D2
-
Unrestricted Funds
Unrestricted Revenue Funds
11
D3
65,393
Designated Funds
Total charity funds
65,393
The total net assets of the charity are funded by the funds of the charity, as follows:-
There are no unanalysed prior period funds		 2023
£
42,742
13,287
56,029
-
56,029
56,029

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

14

Ilyas Trust Limited by Guarantee - Balance Sheet as at 31 October 2024

Mohammad Arshad Trustee Approved by the board of trustees on 14 June 2025

The notes attached on pages 19 to 20 form an integral part of these accounts.

15

Ilyas Trust Limited by Guarantee

Cash Flow Statement for the year ended 31 October 2024

Cash flows from operating activities
Net cash provided by operating activities as shown below
A
Cash flows from investing activities
Purchase of property, plant and equipment
Cash flows from financing activities		 2024
£
21,810
(15,479)		 2023
£
23,671
(13,740)
Overall cash provided by all activities
Cash movements
Change in cash and cash equivalents from activities in the
year ended 31 October 2024
Cash and cash equivalents at 1 November 2023
Cash at bank and in hand less overdrafts at 31 October
A+B+C		 6,331
316
13,990
14,306		 9,931
9,931
-
9,931

16

Ilyas Trust Limited by Guarantee

Cash Flow Statement for the year ended 31 October 2024

Reconciliation of net income to net cash flow from operating activities

Net income as shown in the Statement of Financial Activities
Adjustments for :-
Depreciation charges
Net cash provided by operating activities
A
Analysis of cash and cash equivalents
Cash in hand at for the year ended 31 October 2024
Total cash and cash equivalents		 15,378
6,015
21,810
2024
£
14,306
14,306		 23,671
-
23,671
2023
£
13,990
13,990

17

Ilyas Trust Limited by Guarantee

Notes to the Accounts for the year ended 31 October 2024

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Risks and future assumptions

The charity is a public benefit entity.

The charity has made its risk assessment as outlined in the initial business plan which is available from the Board of Trustee.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note5.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.

18

Ilyas Trust Limited by Guarantee

Notes to the Accounts for the year ended 31 October 2024

Freehold premises 0 % straight line Leasehold premises 2 % straight line Plant and machinery 33 % straight line Motor vehicles 25 % straight line

A regular annual review of the likelihood of asset impairment is undertaken.

No depreciation is provided on freehold property and improvements because it is the practice to maintain the property in a continual state of sound repair. Accordingly, the life is so long and the residual value so high that the Trustees consider that depreciation calculated in accordance with accepted accounting standards would be immaterial.

Revaluation of tangible fixed assets

The tangible fixed assets being the building will be revalued at the market value once it has been constructed. The building will continued to obtain a revaluation every three years thereafter.

Accounting for capital grants and fixed asset funds.

Gifts of tangible fixed assets or grants of a capital nature, given for the purposes of acquiring specific assets to be fully utilised in the furtherance of the objects of the charity, are credited to fixed asset funds after the donated asset has been received or sums have been properly expended on the restricted purpose.

Where the terms of the gift require the charity to hold the asset on an ongoing basis for a specific purpose, then the fixed asset fund so created is categorised as a restricted fixed asset fund, and the relevant restrictions are noted in the fixed asset note 9.

Where the terms of the gift are met once the asset is acquired, so allowing the charity to use the asset on an unrestricted basis, including the right to receive the proceeds of any future sale of the asset on an unrestricted basis, then the fixed asset fund so created is categorised as a designated fixed asset fund.

When assets are acquired for the furtherance of the charity's objects, utilising the charity's own unrestricted funds, a transfer is made from unrestricted funds to a designated fixed asset fund.

Whether acquired with unrestricted or restricted funds, the asset acquired is initially shown in the balance sheet at the full cost of acquisition or subsequent revaluation.

As the related assets are depreciated, in accordance with the depreciation policy,in order to reflect the dimunition in the asset,a transfer is made from the relevant fixed asset funds to either unrestricted or restricted revenue funds, as appropriate to the terms of the original gift, if any.

The effect of this policy is that the aggregate of all fixed asset funds shall equate to the net book value of fixed assets.

In the first year that this policy was adopted, a transfer to fixed asset funds was made equivalent to the net book value of the assets.

Any residual liability to the donor arising from, for example, the asset's future sale, is disclosed as a contingent liability unless the event that would trigger repayment of the grant becomes probable in which case a liability for repayment is recognised.

Insofar as this policy relates to Government grants and to the extent that it may be a departure from the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), such departure is justified on the basis that it is in order to comply with the SORP.

19

Ilyas Trust Limited by Guarantee

Notes to the Accounts for the year ended 31 October 2024

Stocks and work in progress

Stock is valued at the lower of cost and net realisable value.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Creditors and provisions

The creditors and provisions for liabilities and charges are recognised and measured from the amounts as recorded at the balance sheet date.

Cash and bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law. There are no restricted funds in place.

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Significance of financial instruments to the charity's position

There are no sigificance of financial instruments to the charity.

5 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

20

Ilyas Trust Limited by Guarantee

Notes to the Accounts for the year ended 31 October 2024

6 Staff costs and emoluments

There are no staff costs or emoluments for the period.

7 Defined contribution pension schemes

The charity does not current operate a defined contribution pension scheme.

8 Remuneration and payments to Trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

9 Tangible fixed assets

Cost
Additions
At 31 October 2024
Depreciation
Charge for the year
At 31 October 2024
Net book value
At 31 October 2024		 Land and
Buildings
£
-
42,742
855
855
41,887		 Plant &
Machinery
£
15,479
15,479
5,160
5,160
10,319		 Motor
Vehicles
£
-
-
-
-
-		 Total
£
15,479
58,221
6,015
6,015
52,206

10 Particulars of how particular funds are represented by assets and liabilities

At 31 October 2024
Tangible Fixed Assets
Current Assets
At 1 November 2023
Fixed asset investments		 Unrestricted
funds
£
52,206
14,306
65,392
Unrestricted
funds
£
-		 Designated
funds
£
-
-
Designated
funds
£
-		 Restricted
funds
£
-
-
-
Restricted
funds
£
-		 Total
Funds
£
52,206
14,306
65,392
Total
Funds
£
-

21

Ilyas Trust Limited by Guarantee

Notes to the Accounts for the year ended 31 October 2024

es to the Accounts for the year ended 31 October 2024
Programme related investments - - - -
Current Assets 5,356 - - 5,356
Current Liabilities (703) - - (703)
Long Term Liabilities - - - -
Pension Asset/Liability - - -
Provisions for liabilities and charges - - - -

11 Change in total funds over the year as shown in Note 10 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Unrestricted Revaluation Reserve
Designated Revenue Funds
Designated Fixed Asset Funds
Total unrestricted and designated funds
Restricted funds:-
Total restricted funds
Total charity funds		 £
57,186
-
-
-
57,186
-
57,186
Funds brought
forward from
2023		 See Note 12
£
15,378
-
-
-
15,378
-
15,378
Movement in
funds in 2024		 See Note 0
£
-
-
-
-
-
-
-
Transfers
between
funds in 2024		 £
72,564
-
-
-
72,564
-
72,564
Funds carried forward
to 2025

12 Analysis of movements in funds over the year as shown in Note 11

Other
Income Expenditure Gains & Movement
Losses in funds
2024 2024 2024 2024
£ £ £ £
Unrestricted and designated funds:-
Unrestricted Revenue Funds 32,838 (17,460) - 15,378

13 The purposes for which the funds as detailed in note 11 are held by the charity are:-

Unrestricted and designated funds:-

Unrestricted Revenue Funds

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.

22

Ilyas Trust Limited by Guarantee

Notes to the Accounts for the year ended 31 October 2024

Unrestricted Revaluation Reserve

This fund represents the unrestricted surplus arising on the revaluation of the charity's assets.

Designated Revenue Funds Currently there are no designated funds. The purpose of these funds is described under the accounting policy Designated Fixed Asset Funds 'Accounting for capital grants and fixed asset funds'.

14 Ultimate controlling party

The charity is under the control of its legal members.

Every member of the charity is obliged to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

23

Ilyas Trust Limited by Guarantee

Activity analysis of Income and expenditure for the for the year ended 31 October 2024

This analysis is classsified by activity and not by conventional nominal descriptions.

**35 ** Analysis of income by activity
SOFA ref 2024 2023
£ -
Activity
Summary of Total Income, including the items above
Donations & Legacies A1 32,838 34,520
Categories of income
Income from exchange transactions 32,838 34,520
**36 ** Analysis of charitable expenditure by activity

Activity Summary of charitable costs by activity

B2. Volunteer costs
B3. Premises Expenses
B4. Administrative overheads
B6. Financial costs
Total Governance costs as detailed in
Note 33
Total charitable expenditure		 Direct
costs
2024
£
-
-		 Support
costs
2024
£
1,000
1,000		 Grant
funding of
activities
2024
£
-
-		 Total
2024
£
1,000
4,149
-
375
6,015
21,403		 Total
2023
£
663
-
1,008
-
1,671

The basis of allocation of costs between activities is described under accounting policies

The breakdown of this expenditure by type of spending (ie nominal classification) is detailed in note 34

Analysis of support and governance costs by charitable activities

Governance Finance Human Other Total
Resources Overheads
Activity
- - 4,524 4,524

24

Ilyas Trust Limited by Guarantee

Activity analysis of Income and expenditure for the for the year ended 31 October 2024
Governance costs
Governance
costs
2024
£
Other Expenditure - Governance costs as detailed in Note 33
1,000		 Governance
costs
2023
£
663

25

Ilyas Trust Limited by Guarantee

Detailed analysis of income and expenditure for the year ended 31 October 2024 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

31 Donations and Legacies

Total Donations and Legacies
A1
32
Administrative overheads
Financial costs
Support costs before reallocation
Total support costs
Depreciation & Amortisation in total for the
Support costs for charitable activities
Software licences and expenses
Stationery and printing
Advertising and marketing
Total donations and gifts from individuals		 Current year
Unrestricted
Funds
2024
£
32,838
32,838
Current year
Unrestricted
Funds
2024
£
-
72
375
-
17,460
17,460		 Current year
Restricted
Funds
2024
£
-
-
Current year
Restricted
Funds
2024
£
-
-
-
-
-
-		 Current year
Total Funds
2024
£
32,838
32,838
Current year
Total Funds
2024
£
-
72
375
-
17,460
17,460		 Prior Year
Total Funds
2023
£
34,520
34,520
Prior Year
Total Funds
2023
£
133
-
875
-
10,849
10,849

The basis of allocation of costs between activities is described under accounting policies

33 Other Expenditure - Governance costs

Reporting Accountant fees
Trustees' indemnity insurance
Total Governance costs		 Current year
Unrestricted
Funds
2024
£
1,000
-
1,000		 Current year
Restricted
Funds
2024
£
-
-
-		 Current year
Total Funds
2024
£
1,000
-
1,000		 Prior Year
Total Funds
2023
£
663
-
663

26