Al-lhsaan Aeademy 783- 78) High Road, Seven Kings, IG3 8RW Registered Cbarity Number: 1164642 Trustees report and financial statements For the period from l August 2V23 to 31 Julv 2024
Contents Page(s) Reference alld Administrative Details of the Charity, its Trustees and Advisers Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Finan¢ial Activilies io Balance Sheet Notes to the Finaneial St#tements 12-15 Page2of15
REFF.RENCE AND ADMINISTRATIVE DETAILS Charity Name Al-lhsaan Academy Charity Number 1164642 Registered office 783-785 High Road SevLn Kings IG3 8RW Trustees Muhaiiimad Yasin Karatela Farhan Vali Emran Ahmed Bankers Al Rayan Bank pl¢ 97-99 Whitechapel Koad iA)ndon EI IDT Solicitors Hai¥kiiis Law 448 Romtord Road London E7 8DF Independent Examiners Midas Financials Ltd Institute of Financial Ac¢ountants. 20-22 Wenlock Road, Loiidoi). N17GU Page 3 of 15
TRUSTEES, ANNUAL REPORT FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024
The trustees present dieir rcport with th¢ financial stateii)¢nts of tli¢ charity for the pcriod l August 2023 to
31 July 2024
STRUCTURE, GOVERNANCE & MANAGEMENT
Goi'erning Document
Tlie charity is a Cliaritable Incorporated Orgai)isalion. governed by a Constitulioi). ai)d is registered with the
Charitv Commission under cliarity number 1164642.
Organisation371 Structure
The triist¢es are responsibl¢ for tl)e general control aiid management of the charity. The trustees give their
tiinc fr¢¢l)' and receive nc) remuneration oi. i)Il)er 11iiaiicial beiiefit% to flilfil this role. The charit> (rustecs
iiieei oli a quarterly basis aiid are responsible for dll delisions takeii iii relation to the overall Lontrol and
strategic iiiaiiageinent of the cl)aril)'. The op¢rational Imanagement ofihe chariiy is delL'gated to sub
coinniittees. These sub committees meet on a weekly basis.
Reeruitmenl, Appointment and Training of Tru$tees
The existing trustees are responsible for the apwintiiieiii of iiew trustees. New trustees arc broiight into the
organisation. wl)¢n required, on the basis of eligibility, competence, specialist Liiowledge aiid skills.
It is the polic5.' of Al-lhsaan Acadeiny that each trusi¢¢ diiriiig induction is given a copy of tl)e ¥onstitution,
the lat¢st accounts, recent meeting minutes and guidance regarding the policies and procedures adopted by
the ¢harity.
Risk Management
Risks are assessed, identified. tllaiiagT¢d and coiistaiitly r¢viewed. A set of policies and procediires are
developed to manage risks, which fom the intcrnal iontrols Iramework. Tl)e policies are set by tlie trustees
and the iiiipl¢inentati0l)s ar¢ delegaied to tlie Inanagement team. The relevant policies and pro¥edures are
communicated to all staff ai)d traiiiiiig is gjiven where applicable. Periodic polic). r¢1. iews
TRUSTEES. ANNUAL REPORT FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024 Public Benefit The trustees uf Al-lhsaan Academj regFularly revieiN' the services provided ro ensure that there is relevaiil. iargeted. local ai)d public benefit. In carying out Iliis review the trlisleeq ensure conipliai)ce to tlic Charity Coiniiiissi0i1's general guidance on Pliblic benefit and li) particular its suppleiiientaTh public guidaiice on the advan¢¢meiit of religion for the public benefit. AcfiviTIES, ACHIEVEMENTS AND PERFORMANCE The Academ J offers a raiigTe of a¢tiN'ities iii piirsiiit of ils objectives staled above for ilie piiblic benefil. The activities detail¢d below provide benefit to tliose w,lio att¢i)d tlie Acadeii)v's preinises in persoli as 'ell as the widcr public locally and iiationally. The Academy was able to expaiid on these activities witli th¢ purchase of the iiew preinises. the forn]er Ilford Preparatory School, which was acquired in S¢ptetllb¢r 2017. Religious Services Tlie Academy is eiigaged iii positive ¢ndeavours in try ing to iiitroduce the pristine InessagL of Islam and to eduLate Musliins and iioi)-Muslims alike on various aspects of tli¢ religion. The Academy's uurrenl autivities and seTh'ices include.. D#ilv Prayers: Mi¢ Academy facilitates the 5 daily prayers. Friday prayers and the two Eid Prayers for the public throughout the }'ear. Evening M3idrasah (Islamic Educational classes) - The Madrasali coiisists of approximatelv 330 childr¢n {botli boys and gjirlsl agied S-13 wlio are taught a variety of subjects rangir5g from Qur anic recitatioi), Aqeedali (Islaini¢ Creed), Seerah & Taareekh (Islamic Hislorv), Fiqh (Jurisprudence), Aklilaaq (Good Cl)aracter) etc. Further Education (F.E.) Classes for youtb aged 13 and oi'er- This ¢oiirse was specifically initiat¢d to targ>et tlios¢ )iOUth wlio may liaiie left the cNciiing Madrasali and find theiiisclves to have lot Ynore free time. Tli¢ aim of this course ss ¢0 fllrtlier their Islainic studies and foLilS on th¢ir tarbi}'yah (moral and spiritual nurturing) enabling them to becotne better Musliins and in lurn, becoine better citizens. Hifdh (Qur'aD memorisation) Class- Al-lhsaan Academy has a Hifdli class operaliii&) moriiiiigJs and evenings. This ¢lass is designed io cater for eacli iiidividual stLLdeiit accordiiig to his capabilities and potential, with ali einphasis on the imwrtaiice of l ajwid {QLir anic Phoiieti¢s I Intoiiation) and rules of recitatioii. Tlic svllabus has been prepared in a manner that will enable a stud¢nt io memorise the entire Qur'an (approximately over 6,000 verses) aiid retain it. AloiigFside tlic Hifdh, a lot of ¢inphasis aiid traii)ingF is b?iven on spiritual aiid Inoral developiM¢nt. io eiisure tlie8¢ ¢hildren who will gjraduate as Huffadh Itliose who liave Inemorised the entire Qiiran) will liaie the qualities aiid characieristics expectcd froin a Hic fidh. The above ¢lasses cater for all types ofchildren and hav¢ proven to be instrumental in safeguarding and enhancing the religious and moral well-being of those who attend. Prize giving and completion ceremonies for the abOe are held every year. Thes¢ events are opel) to tlie publiL and allow th¢in to remain informed of the Academ) s cducational acliN'ities. The End ol'Y¢ar Prize Givingi Jalsahs were conducted in July wliilst the Mid-N'ear Priz¢ Giving Jalsahs tre held iii Fcbruary. PageSof15
TRUSTEES. ANNUAL REPORT FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024 Edu¢ational Trips- Al-llisaan Academy occasionally holds educatioiial aiid recreational trips to 'arious places. Fui) days are also organised to local parks, and other days are spent on in-house fun edu¢ational activities. Holiday Youth Club- Al-lhsaan Academy holds a holiday youth club where many south attend and are able to use thc playground and other recreational faLilities in a safe. fun and welcoming ei)viroiim¢nt. Adult Learning Classes- The Academy offers a range of classes for adults in collegeluniversity. full time employmei)l or even retired individuals ivho wisli to further their Islami¢ knowledge. Tl)ese ¢las5es take place during l¢rni tiine only corresponding willi ilie acadcinic calendar. Our students currently b¢i)efit from such classes with ihe following clioice of enrolmeiit.. Tajweed elasses- These classes take place oiice a w'eek iii the eveiiings. Tliis Class eiiables the Students to l¢arn tlie correct pronunciatioii ofthe Arable letters with all its qualities and enables students to adorn iheir recitation of tli¢ Gloriou5 Qur'an with all the neLessar)' rules. Essential Islamie Education Classes- These classes are iaught to adults ii) a w'el¢omii)g classroom settiiig oiice a wcek in the evenings. TopiLs ranoe froin A4eedah Ilslamic Crccdl, Seerali & Taareekh (Islamic Histotw), Fiqh lJurispruden¢el and l.ladith (traditions of Prophet Muliammad m( peu¢L ap7d bl¥.%.iiiigFJ bv ui?i)n hi7). This course is perfect for those individuals who are lie. to Islam. tliose Ih0 have iiot had the opportunity lo study when youi)g or evei) lor those who ilant to refresli their core kno.ledge of Advanced Islamic F.dueation Classes- A more in-depth study of Islainic edii¢ation is imparted io students, on¢¢ a week, and uver a iiuinber of years. Hifdh Refresher Classes The Hifdh Refreslier ¢lasses are facilitated for thos¢ individuals who liave previouslv memorised the Qur'an aiid wish to revise and refresh it. Class timings are flexible in order to work 8round the availabilities of the students. There wer¢ twenty four metnbers of stafyengaged in delivering the educaiional activities described above. Seasonal Programmes - Occasionally, tlie Academ), holds programin¢% for the coinmunity's benefit. These programmes provide an educational ai)d iiispirational boost ai)d addres5 Inany misconceptions regarding Islam. It also serves as a counselling session and promotes good iiiorals & iharacter. Hajj Programme- The sacred pilgrimage, is the fifth pillar of Islam. It is a journey iliat Muslims are requir¢d to ujidertake once in a lifetime siibject to meetjng certain necc8sary coi)dition%. Many prospective pilgrims are rightly conLLrn¢d and mindful to ensure they preparc aiid educate themselves properly before enibarkiiig? oli sucli ali auspicious jourii¢}'. l o meet t11c Loncerns, Al- Ihsaan Academy runs an anniial Hail programine th.'hich provides comprehei)sive guidan¥e to intciidino pilgrims. The programme discusses the essential rituals of Hail aiid is followed by a question w)d aiiswer session. Beneficial literature is also distributed ai ihe end of the session. Page6 of15
TRUSTEES, ANNUAL REPORT FOR THF. PERIOD I AUGUST 2023 TO 31 JULY 2024 Religious aDd social advice- The A¢ademy providts support ai)d guidance to the coii)munity througjl) tli¢ mediuiii of email, phone and direcl meetii)gs. Al-lhsaan Academy's Website - The prime objective of the website Is to lielp people stay ¢oniiLCted w'ith the activities of Al-lhsaan Academy. as ell as up-to-date news on the latest events and services. The website is also utilised to keep the publi¢ lip to date on the latest appeals & projects, and the outstaiiding qardh (funds owed to the public which were borrowed in order to purchase the iiew preii)iscs). Publication department- Iiiforniative and inspirational literature is piiblished andlor dislribiil¢d from time io tiine iii order to lurth¢r the Acadeiny's objectives. These take ili¢ fonii of leafl¢ts which cov¢r a ¥vide rang)e of tOPlCs and coiitemporary. issiies impauringTr tlie lives ol- Musliins. Oih¢r beneficial ¢ducativc cards are also published to sprcad ihe beautiful teacliings of Islam. Nikah Service: A free servicc for coiiples wlio th'ish to perfomi Nikah {tl)e1slamic marriage cercmony) is also provided at Al-lhsaan Acadeiiiy. Fundraising The Cliarity has been fundraisiiig to recoup the £2.1 m borrowed from the communiry in order to purchase Al-llisaai) Academy's preinises. Listed below ar¢ some of the methods adopted to raise funds.. l. Distribution of fundraising leaflets outside Masaajid. 2. Raisii)gJ awai'en¢s5 ai)d providing) reg)ular updates via t¢xl In¢ssages, social niedia and word of mouth. 3. Online flllidraising platforn)s have been set up siich as Paypal. 4. Makii)g appointtnci)Is in various Masaajid nalioi)allJ' in order io raise funds from their coinmunities. 5. Collection box¢s are g?iven (o homes ol'tlie well-wisl)ers of tlic A¢#d¢niy. 6. Collection boxes are given lo local shops, facilitating for the passiiig public to also be able to donllle. Page7 of15
STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees Ai)nual Report and tlie finaiicial statements in aLcordanc¢ with applicable law and United Kiiibdom Accoiinting Staiidards Iuiiiled Kiiig?dom Generally Accepted Accountiiig Practice} and the laTh's appli¢able lo chariti¢s in Eiig12nd and Wale5. The finai)cial stateiiients for ea¢h fiiiancial year must give a true and fair view of the state ol allairs of the charity. aiid of the inconiiny? resources and applicaiion of resources. In preparing thcse finaiicial stateinents. the trustees are required to.. Select suitable accountiiig wlicies and theii apply them consistenilw; Observ¢ the Inethods and principles in ihe Charities SORP 2016 {FRS 102); Make judgeinenls and estimates that are reasoiiable and prudent; State whether applicable UK AcLounling Staiidards liave been followed. subject to aiiy material departures disllosed aiid explained in tl)e financial s¢atement5- Prcpare the financial stateiiients 01) tlic gJoin8 concctii basis iinless 11 is inappropriate to presume that the charity will coi)tiiiue in operation. The trusiees are responsible for keeping adequate accounting reLords that disclose willi reasoiiable accuracy at any time the fiiianLial position of ilie cliarity aiid enable them io enslire that the financial stal¢ments cojnply witli tli¢ Charities Act 201 I, the Charity. Accoui)ts ai)d Reports RegJulations 2008 aiid the provisions of the trust deed. Tliey are also responsible for safeguarding the assets of the charity and hence. lakiiig reasonable steps for the prevention and detection of fraud and other irregularities. Approv21 Approved by the trustees on tlie 31° of May 2025 and sigi)ed on their behalf by.. Sigi)aiure'. Full Name: Mr Farhan Sajid Vali Position= Trustee Date- 31# May 2025 Page8 of15
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AL-IHSAAN ACADEMY I report to the charily trustees on my examiiiation of il)e accounis of Al-lhsaai) Academy (th¢ Trust) for the period ended 31 Jiily 2025. Re$ponsibilitie5 •nd b*$is of report As the charity's truslees, you are responsible for the prcparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the A¢t")- I report in respect of my examinalion of the Trust's accounts carri¢d out under section 145 of the Acl and in carrvii)g out tlly exaiiiiiiation I have followed all applicable Direilioi)s given by the Charity Coinmission under section 145(5Xb} of ihe Aci. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a Inember of a lisied body. I call confirn) tliat l am qiialified to undertake tlie exainiiiaiion because l am a registered metnber of The Institute of Financial Accountants whicl) is on¢ of the listed bodies. I have coinpleted Inv examiiiatioii. I confirin tliat no material matters have come to mv atteniion in onnection witli th¢ examinatioii giv ing me cause to believe that iii any material respect.. accounting re¢ords were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord witli those records; or the acLounts do not comply with ihe applicable requircments concerning tlie forn) and content of accounts set out ii) the Cliarities (Accounts and Reports} Regulations 2008 other than aii>' quirement that lh¢ a¢countS byive a true and fair view which is not a matter coi)sidered as part of an independent examination. I confirm that thcrc are no other matters to which your attention should be drawn to enable a prOr understandii)g ofthe a¢¢ounts to be reached. Imran Patel Midas Finanei3ils Ltd Institute of FiDan¢ial A¢countants 20-22 Wenlock Road, ndon, Nl 7GU Signature.. Date-. 31° May 2025 Page 9 of15
STATEMENT OF FIP4ANCIAL ACTIVITIES FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024 Unrestricted Restricted Funds Funds 2023-24 2023-24 Total Funds Total Funds 2022-23 Iyote 2023-24 In¢ome Doiiatioiis Fees IIiLome Zic kah - Cjaza Appeal Wudhii Khana Appeal Renlal Income Book Salcs & Literature Zakah Other income 34,370 157.755 202.073 236.443 157.755 430,488 180.712 53.632 23.290 17.000 12,077 2,227 3,044 23.?90 17.000 12,077 17.725 8,268 6,754 2,150 3.044 Total income 249,763 255.705 505,468 646.097 Expenditure on: Salaries. Pensions & Teacliing S¢rwi¢¢s WiidliLI Kliai)a Depreciation Books. Lilernture & Publications ALLOUlitancy fee Maintenance 174,101 31,213 174,101 31,213 25,604 7.727 174,397 25,604 37,563 8,136 600 6,932 9,060 6,754 2.781 7.727 8,366 16,278 2,227 19,753 8.366 16,278 2,?27 19,753 Zakah Other expenses Total expenditure 259,665 285,269 246,223 Lyet income l{expenditure) (9,902) 230,101 220,199 399,874 Net movement in fund$ for the year (9,902) 230,101 220,199 399.874 Total funds b/f at l * June 2022 and I August 2023 254.546 1.492.082 1.746.628 1,346.754 Total funds At 31 July 2023 and 31 July 2024 244,644 1,722,183 J,966,827 1,746,628 The notes on pages 12 to 15 fomi part of these financial statemei)ts. Page 10 of15
BALANCE SHEET AS AT 31 JULY 2024 2023-24 2022-23 Note Fixed assets Tangible tixed assets Invcstinent prortY 1.556.492 514.832 1,581 ?86 515.64J Total fixed assets 2.071,324 2.096.929 Current assets Debtors Cash at bank and in hand 1,350 173.411 1.350 92.993 174,761 94.273 Creditors= amounts falling due wiihin one year (279,258} {444.5741 Net current assets (104.497) (350.301) Net assets 1.966.827 1,746,628 Charitv funds Restrictcd funds Unrestricted funds 1.722.183 244,644 1.492.089 254.546 Total funds 1,966,827 1,746,628 The financial statements have been approved by the Board of Trustees on the 31, of May ?025 and were signed on its behalf by.. Farhan Vali | Trustee 'rhe notes on pages 12 to 15 fomi part of these financial statements. Page 11 of15
NOTES TO THE FINANCIAL STATEMEf+JTS FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024 AeeouDting policies General Information Al-11)gaan Academy is a registered charity. The address of the regisiered office is given in the ¢hariiy information on page l of these financi81 statements. The nature of the Charity's operations and principal activities are set out on page 2. b} ilasis of preparation of finaneial statements The financial siatements h&ive been pr¢pared in accordance wilh Accrjiinting and Reporting by Charities= Statement of Recommended Practice applicable to charities prep<iring their 12ccoull18 in accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ireland IFRS 1021 issued on 16 Jul) 2014. thL Financial Reponinb Standard applicable in thc United Kingdom and Republic of Ireland IFRS 1021, the Charities Act, and UK Gencrally Accepted Praciice as it applies from l January 2015. The financial statements have been prepared to give a'true and fair. Vie and have departed from Charities (Acouiints and Reports) RegTulations 2008 oiily to tlie exteni required to provide a 'true and fair view This departure ha5 involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applilable in the UK and RepubliL ofireland IFRS 102} issued on 16 July 2014 ratherthan ihe Accounting and Reporting by Charities- Statement of Recommended Practice effe¢tive from l April 2005 which has since been withdrawn. The financial siatements are prepared on a goingy concem basis under the historical cost convention, modified to include investment property at lair valu¢. Th¢ financial staieinents are prepared in Pound Sterling (£) which is ihe funciional currency of the charity. These financial siatements have been prepared for the 12 months period from l August 2023 to 31 July 2024. C(Jmparaiive numbers presented in tliese financial stateiiients are for the period from l June 2022 to 31 .ILII!, 2023. The SigTnificant accounting polieies applied in the preparation of ihese financial siaieinents are set out below. These policies have been consistently applied to all year5 pr¢sented unless otherwise stated. Fund accounting Unrestricted I'unds are funds which are available for use at the discretion of the tnjstees in furtherance of the general objectives of the Charity and which have not been desigTnated for orher purp()ses. Resiricied funds are funds which are io be used in accordance wilh specific rtriC[lOnS imposed by donors which l)ave been raised bj the Charitv for particular purposes. The cosi of raising and administering such funds are charged ag)ainsl the specific fund. Iii case of Al-lhsaan. the restricted funds represent donations in relaiion to purchase ot.the building nei of depreciaiion charg?ed on the building and fair value of in kind donalion of a flai Irom a donor. The resiricted assei represented by the restricted funds is the freehold building and restricted funds in respect ot a lea8c hold flat donated by a donor during the period. d) Going Conecrn The financial statements have been prepared on a goingF concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the levcl of funds held and the expected level of income and expenditure for l? months from authorisin¥ these financial statements in arriving at this conclusion. Page12of 15
NOTES TO THE FINANCIAL STATEMF.NTS FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024 Judgements and kev sourees of estimation uneertainty Accoiinting estimates and judgein¢nts are c()niinually evaluaied and are based on historical experience and oiher fa¢iors. in¢luding ¢xpectations of future evenis ihat are believed to be reasonable linder the circumstances. The key esiimateljiidgiement exercised in preparation of these finaFJcial statements is relaiing to useful life of the buildiiig acquired during tlie year. Income Income is reco&Fniged when the chariiy has eniiilement to the funds, aTly performance conditions attached ia Ihe iiems of income havc been Inel, it is probable that the incoin¢ will be received and the amoiint can be measured reliably. Donations are recognised when the Charity receives them. Fees Income is recognised on due basis (accrual basis). g) Eipenditure Liabilities are recognized where it is more likely than not that there is a le&Fal or constructive obligation committing the charit), to pay out resources and the amount of ihe oblig?ation can be measured 'ith reasonable certainry. All expenditure is acLounied for on an accrua15 basis and has been included under expense caiegories that aggregate all Losts for allocation to activities. Where cost cannoi be directly attributed to particular activities they have been allocated on a basis consistent wilh the use of the resources. h) Taxation The charity is exempt from tax on ils charitable activities. Tangible fixed assets Tangible fixed assets are stated at historical cost less accuinulaied depreciation and any accumulaied impairmeiit losses. Historical cost includes an).. expenditur¢ thai is directly attribuiable to bringTing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciaiion is charged so as to allocate the cost of assets less their residual value over their estimated iisefLII live£ a% indicated beloiv-. Freehold building- 20/0 per ai)num siraight line Equipinent- 20ty/0 per annuin straight line Land is not being depreciated. The assets residual values, useful liv¢s and depreciation m¢il)ods are reviewed anniially. Investment property Investiiieiii propertj is shown at tair value. Any aggregate surplus or deficit arising from ehanges in the fair value is transferred to the statetnent or rinancial activities. P8ge 13 of 15
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD I AUGUST 2023 TO 31 JULY 2024 k) Debtors Prepayments ar¢ valued al the amount prepaid. Accrued income is Imeured at the amount due to be received. Creditors and provisions Crediiors and provisions are reLOg?nised where the charity has a present c>bligation resuliing from a Pdsl event tl)at ii'ill prob8bly result in the iransfer of future funds to a third party ai)d the aTV)ouni due to settle the obligation can be measurcd or esiimated rLliably. Creditors and provisions are normally reco¥ni£ed ai their settleinent amount aller allowing forany trade discounts due. Creditors also include fees received in advan¢¢. Trustees Remuneration 2023-24 2022-23 The amount of remuneration or other benefits paid to a Trustee of the charity were as follows.. Farhan Vali 17.990 19,346 17.990 19,346 Staff costs 2023-24 2022-23 The average monthly number of employees during the year was as follows.. 24 24 No employees received emoluments in excess of £60.000. Tangible fixed a$set$ Freehold Land Freehold Equipment Buildings Total Cost At l August 2023 Addition At 31 July 2024 661,014 1.046,474 74.739 1,782,227 661,014 1,046,474 74,739 1,782,227 Depreeiation At l Augiist 9023 Additioiis durin&7 the period At 31 July 2024 13?.274 20.930 153,2D4 68,667 200,941 72,531 225,735 Net Book Value At31 July2024 At 31 July 2023 661,014 661.014 893.2YO 914.200 2.208 6.072 1.556.492 1.581.286 Page14of15
NOTES TO THE FINANCIAL 8TATF.MENTS FOR THE PERIOD I AUGUST 2023 TO 31 JULV 2024 Investment property At l August 2023 Depreciation Ai 31 July 2024 515.643 811 514 832 The book value of investment property is deem¢d to be equivalent to tl)e fair value. Debtors 2023-24 2022-23 Security deposit Total 1,350 Creditors: Amounts falling due witbin ye#r 2023-24 2022-23 Advance fee5 received Accruals and other payables Security deposit payable Qardh Hasan (loans repayable on demand) 10.077 7.800 1,350 260.031 6,485 2,708 1.350 434,031 279,258 444.574 'The Charity has obtained interest free loans (Qardh Hasanl from local community which is repayable on demand. Statement of funds Brought Ineoming Resources Foard Re$ourees ExpeDded Carried Forward Restricted funds Uiirestrict¢d funds ,492,082 254.546 255,705 249.763 125,6041 1.722.183 {259.6651 244.644 Total of funds 1,746,628 505,468 (285,269) 1,966.827 The Testricted funds represent donations received to purchase ihe buildingj nct nl. depreciation. fair value of ilie flat rectived as donaiion from a doiior uiidLr Waql'deed aiid tuiids rL"ceiveil uiider Ciaia 2L ppeal. Some of tl)e resiricied funds received during the year 23124 have been used to pay off interest tree loans {Qardh Hasanl. Page ISof15