Docusign Enwebp& ID.. A19F8B5E-AFF94354-ADA4-E730BEBFBE33
Company Numbèr.. 09982930
Charlty Numbar: 116602S
Issa Foundation
Trustees, Report and Accounts
Financial Statements
31 December 2023
INTERNAfioNAL

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA4E730BEBFBE33
ISSA FOUNDATION
CONTENTS
Pagè
Charity information
Trustees, Report Ilncluding Directors, Report and Strategic Report)
Independent auditors re￿rt to the Members
8-10
Statement of financial activities IlnclLJding Income and Expenditure Account)
8818nce sheet
12
Cash flow stat8m8nt
13
Notes to the financial statements
14-25

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
CHARITY INFORMATION
Tru$tees
M1s$8
Z Issa
Company Secretary
J Patel
Registered offi¢e
Waterside Head Office
Haslingden Road
Blackburn
BB12FA
Auditor
MHA
Richard House
9 Winckley Square
Preston
PR1 3HP
Campany règlstration numbèr
09982930
Charlty r•glstratlon numbar
1166025

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Th8 Trust8es, who are also directors of th8 charty for the purposés of the Cornpani85 Ad, present their
report and the audited financial statements of the charity for the year ended 31 December 2023. The
Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI Accounting and
Reporting by Charities. IFRS 1021 in preparing the annual report and financial statements of the charity.
The financial statements have been p￿pared in accordan￿ with the accounting policies set out in notes to
the accounts and comply wrth the charity's governing document, the Charities Act 2011 and Accounting and
R8POrting by Charities.. Statement of Recotnmended Piactice applicable to charities preparing their accounts
in 8￿rdance with the Financial Reporting Stsnd8rd applicable in the UK and Republic of Ireland.
Structura, govarnanca and managèmènt
Issa Foundation is a registered charity in UK number 1166025 and is consts'tuted under a trust deed dated
14th March 2016. The charity was Ic>unded by brothers Zuber Issa and Mohsin Issa. The charity also has a
voluntary sub-committee and a s8cr8tary who play a vital ro18 in advising the Trustees on various projects.
The Trustees and the sub-cornmittee meet every quarter and the Trustees make decisions based upon
recommendations Irc>m sub-committee. The sub-committee consists of individuals with numerous skills and
abilities, ranging from construction, health care and previous charity experience.
The mernbers of the volunteer sub-oomrllittee are., Ilyas Rehmani., Muhammad Sadiq Patel,. Siraj Ahmed
Patel,. Zubair Desai., Irfan Ali., Harun Patel and Mohamed Valli.
Trustees of the charity and key management personnel
The directors of thg charitable wmpany ore ts Truste8s for the purposes of charity law. The Trustees who
have served during the year and since the year end are set out on page 1.
The charity considers its key management personnel comprise the two Trustees, who make decisions
regarding the awarding and payment of grants to projects, and the voluntsry advisory subcommittee.
New Trustees are appointed by the existing Trustees and serve for 5 years after which time they may put
themselves fO￿ard for re-appointment. No remuneration is paid to the Trustees or sub-committee members.
Trustees are rewrnrnended to di￿1058 all rglev8nt interests and regist8r them with the sub-committee.
Rlsk rèvlaw
Major risks identified within the organisation are banking, fraud and issues relating to extremism activities. To
mitigate the identified risks Issa Foundation have increased security measures and implemented additional
dug diligenog ch&cks frorn the beginning to thg end of ev8ry proj8Ct.
We are working with established charitable organisations with on-ground presence in the selected areas of
operation, which may expose Issa Foundation to financial risks. We have procedures in place to eliminate
these Iinancial risks as highlighted below.
BhuT*wol
Anlk
620/720
6161720
670/720
6121720
5951720
588/ 720
581 /720
5771 720
5581720
551 1 720
5481 720
5361 720
527/ 720
5051 720
500/ 720

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Comprehensive vetting of 811 charitsble org8nisations.
Organisations to which grants are awarded must be a government registered charity in their
respective country.
Fac8 to fac8 meetings h8ld with all eharitablé organisations who arè awardod grants, this is usually
done via online web conferencing and visits to relevant countries.
References obtained Irorn worklprojects carried out with other charitable organisations.
Field visits by either Trustees or sub-committee merllbers for charilable projects.
ObjectNes, activities and public benefit
The purpose of the charity is the advancement of education, health and employment of people in need, in
particularfy disadvantaged commLJnities. By supporting projects that address these issues, the activrty may
8150 protnote other Identifiable projects from tItTI8 to as detertnined by th8 Trustees.
In 2023, the charity had spent over £3.97M12022'. £7.81MI supporting projects in the following categories:_
Cate
ent
EdLJC8tion
Food
Health
Social
W8ter
1,115,301
2,411.271
321,061
89,215
37,500
3,974.348
Our strategy involves on ground humanitarian support, providing food. water, medical assistance, and
shelter. This is then improved and then developed to form a way of life and routine, leading towards freedom
from dependence on others.
We are dedicated in providing support to orphans, widows and less fortunate regardless of race, culture or
ion.

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT AND STRATEGIC REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Grant making policy
Proposals are invited fr(>m registered ¢haritsble organisation$ undertaking humanitarian projo¢ts to support
communities, in particularly disadvantaged groups. Requests received are reviewed by the sub-cornmittee
who then advise the Trustees of the merits of each project and give advi￿ on the level of funding to be
provided.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities
and setting the grant making policy for the year.
Social investment policy
The Trustees assess grant applications on 8 case-by-case basis with the assistsnce of the SU1￿¢0mmIttee. In
some cases, the Trustees may identfy organisalions whose work is in line with the charrty's objectives but
who have the ability to raise their own funds in the mid-to-long term. In these circumstances they may
d8tertlline that the most 8ppropriate form of support would be a conogssion8ry loan which is rgpayablg on
dernand.
Strategic report
Aehlev•m•nts and performancè
The Trustees of Issa Foundation would like to thank the sub-committee for their invaluable contribution to the
charity.
Our projects in the year have been in India, Malawi and UK.
We maintain our support in funding lor the mtsst vulnerable in India and Malawi through our healthcare,
liv8lihood projects, education, shelter and f￿d programrn8S, Wlth the aid of our partners and by the
leadership, zeal, inspiration and dedication of our Trustees and sub-corrmittee members.
Issa Foundation Is proud to b8 supporting Th8 Maon8 Vocational Training Centre IMWfCI which offers
students appr8nticeship in key construction skills, carpentry, joinery, bricklaying and plLJrnbing. Th8 objective
of this programme is to equip young men and women with the technical and vocational skills and knowledge
to promote self-reliance and break the cycle of poverty.
The Trustees of Issa FoundatioN would like to thank 811 partners and volunteers for their support.
IELIEF
LJND
issa
1*1
102J

Docusign Enwebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
The charty's main source of inc(>me is voluntary donations and interest received on unexpended donations.
Donation5 received during the year amounted to £7,512,05012022.. £4,007,100). Th8 balance held within the
bank account has resulted in interest generated during the year of £4,869 12022.. £5,778), which has been
transferred to a separate unrestricted interest fund as can be seen in nc>te 14 to the accounts.
Grants totslling £3,974,34812022.. £7,819,891) have been awarded to projeots. Detsils of these projgcts can
be found in note 6 to the accounts.
15sa Foundation has baén prédominantly funded by thé Trustéès of thè Foundation, and thè rélatèd Grft Aid
claims on their donations. for the purpose of meeting the charity's aims and objectives.
The current reserves are to be assigned to charitable projects as and when they have been identified, vetted
and approved.
Reserves policy
Unrestricted funds
Lillah
Lillah comprises the gift aid recovered on Zakat donations. The Lillah fund balance at 31 December 2023 of
£9,865,17312022.. £8,643, 1141 will be applied to future awards operating costs of the ch8rity. The Lillah
fund includes fixed assets of £17,980,46812022'. £14,118,326).
Zèkat
Donation5 collected on annual religious ground5 frorn able Muslitns to help the poor. The Zakat fund b81ance
at 31 December 2023 of £10,823,41512022'. £8,501,086) will be applied to future awards.
Interest
Funds generated from interest received on the amounts held within the charity bank account and the bank
accounts of individual Muslims. The interest fund balance at 31 De￿mber 2023 of £142.420 12022..
£253,297) will be applied to future awards under Ihe guidance ol religious ruling.
The level of funds is reviewed before grant commitments are made lo ensure that the balance of these funds
is always sufficient to cover current and proposed grant commitments and ongoing administration costs. The
Trustees are concemed to maximise the benefit to disadvantaged communities ol their grant making policy.
All unrestricted reserves are to be used on future charitable projects.
Fundralslng standards Infomiatlon
The charity does not raise funds from the general public.
Plan5 for future periods
The principal objective of Issa Foundation is housing, advancement of education, health, empowering
those in need, in partlcular disadvantaged individuals and communities, by supporting projects that
addiess these issues.
The charity will continually identify projects from tirne to time as determined by our partners, trustees and
volunteers.

Docusign Enwebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Auditor
Following the merger of MHA M(x)re & Smalley with MHA, the company's independent auditor has now
b8come MHA. A resolution to reappoint MHA as independent auditoi will be proposed at the next Annual
General Meeting.
Trustèès, rè$ponsibilitie$
The Trustees Iwho are also the directors of Issa Foundation for the purposes of company lawl are
responsible for preparing the Trustees, Report (including the Strategic Report) and the financi81 statetnents
in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Cotnp8ny law requir8S the Truste8S to pr8P8r8 financi815tatem8nts foi 8ach financi81 p8riod, which give 8
true and fair view of the state of affairs of the charitable company and of the incoming resources and
application ol resources, including the income and expenditure, of the charitsble company for the period. In
preparing these financial statements, the Trustees are reqUI￿d to".
select suitable accounling policies and then apply them consistently.
observe the methods and principles in the Charities SORP 2019 IFRS1021.
make judgernenls and estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial stalemenis.
pr8pare the financial statements on the going conc8rn basis unless it is inappropriato to
presume that ihe charitable company will continue in operats'on.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any tirne the financial position of th8 charitable company and enable thern to ensure that thé
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable company and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularrties.
11

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2023
In so far as the Trust88s are aware..
there is no relevant audit information ol which the charitable company's auditor is unaware,. and
the Trustees have tsken all steps that they ought to have taken lo make themselves aware of
any relevant audit information and to establish that the auditor is aware of that information.
In approving the Trustees. Annual Report, we also approve the Strategic Report included therein, in our
capacity as company directors.
This report was approved by the Trustees on
August 2, 2024
s￿Nd by.
414M2CUC88943F"" "" "" "" .
Z Issa
Trustee

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ISSA FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Opinion
We have audited th8 financial statements of Issa Foundation (the 'charit8ble company'l for th8 year ended
31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow
Stalement and the notes to the financial statements, including significant accounting policies. The financial
reporting framéw(>ik that has béén appli8d In their préparation Is applicabltr law and Unitèd Kingdom
A¢oounting Standards, including Financial R8porting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and lair view of the stale of the charitable company's affairs as at 31 December 2023, and of
its incoming resources and application ol resources, including its income and expendilure, for the year
then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and
8pplicab18 law. Our responsibilities under those 5t8ndards are further d85cribed in the Auditor responsibilities
for the audit of the financial statements section of our report. We 3re independent of the charitable cornpany
in accordance with the ethical requirewents that are relevant to our audit of the financial statements in the
UK, including the FRC'S Ethical Standard, and we have lullilled our olher ethical responsibilities in
aooordance with these requirements. We bèlieve that the audit evidenoe we have obtained is suffiGient and
appropriate lo provide a basis for our opinion.
Concluslons r&lallng to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
ccounting in the preparation ol the financial statements Is appropriate.
8ased on the work we have performed, we have not identified any materia1 uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to
conts.nue as a going concem for a period of at least twelve months from when the financial statements are
authorised for issu8.
Our responsibilities and the responsibilities of the trustees with respect to going eoncem are described in the
relevant s￿tiOnS of this report.
Other infomiation
The other information comprises the information included in the trustees annual report, other than the
financial statements and our auditor's report thereon.The trustees are responsible for the other
information contained within the annual report. Our opinion on the finanual statements does not cover the
other information and, ex￿p1 to the extent otherwise explicitly stated in our report, we do not express any
forrn of assurance conclusion thereon. Our responsibilily is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained In the course ol the audit or otherwise appears to be materially misstated. If we identify
such rnaterial inconsistencies or apparent material misstaterllents. we are required to determine whether this
gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required to
report that fact.
We have nolhing lo report in this regard.

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ISSA FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work und8rtaken in th8 cours8 of th8 audit..
the information given in the Trustees, report lincorporating the strategic report and the directors, report)
for the financial year for which the financial stat8m8nts are pr8pared is consistent with the financial
statements., and
the strategic report and the directors, report have been prepared in accordance with apPI￿able legal
requirements.
In the light of the knowledge and understsnding of the charitable cornp8ny and its environment obtsined in
the course of the audit, we have not identified material misstatements in the strategic report and the
directors, report.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006
requires us to report to you rf, in our opinion..
adequate accounting records have not been kept. or returns adequate for our audit have not been
received from branches not visited by us-, or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of dir￿lorS. remuneration specrfied by law are not made.. or
we hav8 not received all the information and expl8nalions we require for our audit.
Responsibilities of Trustees
A5 explained more fully in the Trustees. Responsibilthes Statement set out on pages 6-7, the Ttustees (who
are 8150 the directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the Trustees determine is necessary to enable the preparation of financial statements that
are free frotn material misstatement, whether due to fraud or errol.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's
ability to continue as a going concèin, disclosing, as applieablÈ, mattérs rèlated to going conGèrn and using
the going concern basis of accounting unless the Trustees either intend to liquidate the charitable cotmpany
or to cease operations, or have no realistic altemative but to do so.
Audltor responsSbllStles for the audlt of the flnancSal statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assLJrance is a high level of assurance, but is not a guarantee that an audit
ondLJCted in accordanGe with ISAS IUKI will always d8t8Ct a material misstatement when it exists.
Misslalements can arise frorn fraud or error and are considered material if, indiwdually or in the aggregate.
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
rinancial statements.
Irregularities. including fraud, are instances of non-￿mplIance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstalemenls in respect of
irregularities, including fraud. The specific piocedures for this engagement and the extent to which these are
capable of detecting irregularities, including fraud is detailed below..
Obtaining an understanding of the leg818nd regulatory fr8mework5 that the Gharitable company operates
in, focusing on those laws and regulations that have had a direct eff8cI on the financial ststements.,

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ISSA FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Discussions with management, including consideration of known or suspected instances of
noncompliance with laws and regulations and fraud.,
Enquiry of management and those charged with governance around actual and ptstential litigation and
daims",
Auditing the risk of fraud in revenue by way of cut off testing and confirming completeness of donations
received during the accounting period.,
Performing audit work over the risk of management override of controls, ineluding testing of joumal
entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for bias.,
Reviewing minutes of meetings of those charged with governance,. and
Reviewing financial 5talemenl disclosures and lesling to supporting documentslion to assess
compliance with applicable laws and regulations.
Because of the inherent lirnitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increase5 the more that complianc8 Wlth a law or regulation is removed frotn the events and transactions
reflected in the financial st8tements. as we will be less likely lo become aware of instances of non-
complianTr. The risk is a￿0 greater regarding irregularities occurring due to fraud rather than error, as fraud
involves intentional concealment, forgery, collusion, omission or misrepreseniation.
A further description of our responsibilrties for the financial statements is located on the FRC'S website at..
www.frc.o
.uklauditorsres
onsibilities . This descripb.on ft)rms part of our guditor's report.
Use of our report
This report is made solely tts the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Cotmpanies Act 2006. Our audit work has been undertaken so that we tmight State to the
charitable company's members those matters we are required to State to them in an auditor's report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyonè other than thÈ eharitablè company and th8 eharitablè company's mambèrs as a body, for our audit
work, for this report, or for the opinions we h8ve forrned.
DQF3B7￿E625469
Paul Williams BAIHonsl FCA
Senior Statutory Auditor
For and on behalf of MHA, Statutory Auditor
Preston, United Kingdom
August 2, 2024
Oate
MHA is the trading name of Maclntyre Hudson LLP, a limited liability partnership in England and Wales
Iregistered number OC3123131
-10-

Docusign Enw8bp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
Restricted Total funds Totsl funds
funds
2023
2022
Not•
In¢om* and endowments from:
Donations and lega¢ies
In￿StMentS
Other income
7,512,050
109,042
29,832
7,512.050
109,042
29.832
4,007,100
5, 778
Total income and endowments
7,650,924
7,650.924
4,012,878
EXpendi￿re on:
Gharilable aclimlies
4,223,338
4.223.338
7,937,817
Total oxpèndltura
4,223,338
4,223,338
7,937,877
Net movement in fvnds
3,427,586
3,427.586
(3,924,939)
Rewn¢iliation of funds
Total funds brought forward
17,397,497
17,397.497 27,322,436
Total funds carrlèd forward
20,825,083
20.825.083
17,397,497
All income and expenditure derives from continuing activities.
The ststement of financial activities includes all gains and losses recognised in the period.
The notes on pages 14 to 25 form part of these financial statements.

Docusign Enw8bp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2023
Total
funds
2023
Total
funds
2022
Unrestricted
funds
Rastricted
funds
Not•
Fixèd assèts:
Tangible fixed assets
17,980,468
17,980.468
14, 118,326
Curr•nt ass•t&'
Debtors
Current asset in￿StmentS
Cash at bank and in hand
12
13
62,103
525,000
2,384,291
62,103
525,IXIO
2,384.291
69,983
525,0(
2, 785,520
2,971,394
2.971,394
3,380,503
Liabilitie&
Creditors.. amounts falling
due wthin one year
14
126,779
126,779
107,332
Not ¢urr¢nt as*ts
2,844,615
2,844,615
3,279, 171
Total assets less current
20,825,083
20,825.083
17,397,497
Net a￿ts
20,825,083
20,825.083
17,397,497
Charity fund&
Unr8strict8d funds
Restricted funds
15
15
20,825,083
20,825,083
17,397,497
20,825,083
20.825.083
1T,397,497
These financia
August 2, 20
518tements were approved and authorised for issue by the Board of Trustees on
d signed on its behalf by..
by.
414￿￿C8￿9￿?F
Z Issa
Trustee
Company registration number.. 09982930
The notes on pages 14 to 25 form part of these financial statements.
-12-

Docusign Env8lop& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
Total lund$ Totsl fund$
2023
2022
Cash flows from operating activities..
Net cash generated fmm operating activities
1351.871
(3,900,486)
Cash flows from investing activities
DI￿￿endS and interest tr(wD In￿StMentS
Payments to acquire tangible fixed assets
109.042
5,778
13.862.142) (8,698,634)
Net ¢a¥] generated from inve*ng activities
13,753,100) (8,692,856)
Net cth pmvided by (used in) investing 8ctivities
Change cath and cath equivalents in the reportrng period
1401.2291 112.593.3221
Cash and cash equlvalentsat the start of the repotlng perli)d
2.78&520
75,378.842
Cash and cash equivalentsat the end of the reporting period
2,364.291
2,785.520
Reconciliation of net incomellexpenditurel to net cash flow from operating activities
2023
2022
Net income for the reporting period
Adjusknents for:
In*stment income receivable
Ilncreasel I decrease in debtors
Increase I Idecreasel in creditors
3,427,586
(3,924,939J
1109,0421
7,e80
25,447
(5, 778)
166,9231
97, 174
Net cash generated from operating activities
3,351.871
(3,900,466J
Analysis of cash and cash equivalents
2023
2022
Current account
2,384,291
2, 785.520
2,384,291
2, 785.520
-13-

Docusign Enwebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Aecountlng pollclas
Basis of preparation
Issa Foundation is a company limited by guarantee Iregistered in England and Wales) and does not
have share capital. The liability of the members is limited and is not to exceed £1 per member. The
address of the registgr8d office is given in the charty information on page 1 of thes8 financial
staternents.
The nature of th8 charity's operstions and principal activities are detailed in the
Trustees Report on pages 2 lo 7.
Th8 charity constitut85 a public benefit entity as defined by FRS 102. The financi815tatements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable lo charits'es preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland, the Financial Reporting
Stsnd8rd applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Ad
2011. the Companies Act 2006 and UK Generally A¢¢epled Practice.
Th8 financial statetn8ntS 8r8 prepared on a going concern basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in sterling
which is the functional currency of the charity and rounded to the nearest £.
The significant accoLJnting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all periods presented unless otherwise
stated.
Going concern
The financial ststements have been prepared on a going eoncetn basis as the Trustees believe that
no rnat8rial uncertainties 8XiSt. Th8 Trustees have consid8red the 18v81 of funds h81d and the
expected level of income and expenditure for 12 months from authorising these financial statements.
The budgeted income and expenditure is sufficient with the level ol reserves ftsr the charity to be able
to continue as a going eoncern.
Income recognltlon
All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity
is legally entitled lo the income alter any perf0rrnan￿ conditions have been met, the amount can be
measured reliably and it Is probable that the income will be received.
For donations to be recognised the charity will have been notified of the arnounts and the settlement
dale in writing. If there are conditions attached to the donation and this requires a level of
perfortnance before entitlement can be obtained then income is deferred until those conditions are
fully met or the fulfilment of those conditions is within the control of the charity and it is probable that
they will be fulfilled.
No amount is included in the financial statetnents for volunteer time in line with the SORP IFRS 1021-
Further detail is given in the Trusiees, Annual Report.
Investment income is earned through holding assets for investment purposes such as cash. It
includes bank interest. Interest incotlle is recogni5ed using the effective interest method.
School tuition fees are recognised in the Statement of Financial Activities in the period in which it is
re￿1Vable, where the receipt is probable and can be measured reliably.
Expendlture recognltlon
All expenditure is accounted for on an accruals basis and has been classified under headings th81
aggregate all costs related lo the category. Expenditure is recognised where there is a legal or
constructive obligation to make payments to third parties, it is probable that the settlement will be
required and the amount of the obligation can be measured reliably.
-14-

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Aecountlng pollcl*s Icontlnu*dl
Expenditure on charitable activities includes grants paid and associated support costs of running the
charity.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are
offered. this is accrued as soo)n as the recipient is notified of the grant. as this gives rise to a
reasonable expectation that the recipient will receive the grants. Where grants are conditional
relats.ng to performance then the grant is only accrued when any unfulfilled conditions are outside of
the control of th8 chaiity.
Support costs allocatlon
Support costs are those that assist the work of the charity but do not direcly represent charitable
activities and include office costs, gc>vernance costs, and administrative payroll costs. They are
incurred directly in support of 8xperTrditure on the objects of the charity and include project
management carried out at Headquarters. Where support costs cannot be directly attributed to
particular headings they have been allwated to expenditure on charitable activities on a basis
consistent with use of the res(xJrces.
Tangible fixed assets
Freehold property & assets in the course of construction are stated at historical cost. Assets in the
course of construction are transferred to freehold property upon completion of the development.
Depreciation has not been charged on freehold buildings as the trustees consider the estimated
residual value ol the properly to be a significant proportion of the book value, such that the
depreciation would be immat8rial. The estimat8d residual value is expect8d to be high dug to thg
Charity's policy of maintaining the propety such that physical deterioration does not occur and the
costs of such maintenance are charged in the year of incidence.
Inve$tment propgrty
Investment property, which is property held to earn rentals andlor for capital appreciation, is initially
recognised at cost, which indudes the purchase cost and any directly attributable expenditLJre.
Subs8qUgntly it is me8sur8d at fair v8lu8 at the reporting end dat8. The surplus or defiGit on
revaluation is recognised in statement of financial activities.
Inv•stm•nts
Social investments are programme related investments being a concessionary loan issued to a
charity beneficiary. Concessionary loans indude those receivable from a third party which are
interest free and are made to advanee charitable purposes. All loans are measured at cost, less
impairment.
Dèbtors and credltors rècalvablèlpayabla wlthln on* yaar
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Employee benefits
When employees have Tendere(J service to the charity, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange
for that service.
Th8 charity operat8s a defined Contribution plan for the benefit of its employees. Contributions 8re
expensed as they become payable.
-15-

Docusign Envebp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Aecountlng pollcl*s Icontlnu*dl
Tax
The charity is an exempt charity within the meaning ol schedule 3 of the Charities Act 2011 and is
considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it
tneet5 the definition of a ¢h8ritable oornp8ny for UK corporation tsx purposes.
Funds
Unrestricted funds are available lor use al the discretion of the Trustees in furtherance ol the general
objectives of the charity and which have not been designated foi other purposes. Restricted funds
are funds which 3re to be used in accordance with specrfic restrictions imposed by donors or which
have been raised by the charrty for par￿aUlar purposes.
Judgements and key sources of estimation uncertainty
There have been no significant judgernents lapart frc>m those involving Èstimates) made in the
process of preparing the financial statements.
Th8re hav8 be8n no k8y a55Utnptions concerning the futur8 and other key sourc8s of estimation
uncertainly al the reporting dete that have a significant risk of causing a maleri818djuslment lo the
carrying amounts of assets and liabilities within the next financial year.
-16-

Docusign Env8bp& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Ineomè from donatlons and lègaclas
Unres¢ri¢ted
funds
Re*ri¢ted Total funds
funds
2023
Donations
7,512,050
7,S12,050
7,512,050
7,512,050
Unrestricted
funds
Restricted Totsl funds
funds
2022
Donations
4,007, 100
4,007, 100
4,OOT, 100
4,007, 100
Income from investments
Unr&*lct8d
funds
R•strlctad Total funds
funds
2023
Bank interest
Rental inGome
4,869
104,173
4,869
104,173
109,042
109,042
Unresfricted
funds
Restricted Total funds
fiJnd5
2022
Bank Inte￿St
5,778
5, 778
5,778
5, 778
Othèr ineomè
Unrastrlctad
funds
Rèstrlctad Total funds
funds
2023
School tuition fees
29,832
29,832
29,832
29,832
-17-

Docusign Env8lop& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitable activities
Unre*icted
funds
Restricted Totsl funds
funds
2023
Grants eXpendI￿re (note 61:
Grants payable
3,974,348
3,974,348
Grant related support costs..
G0￿ManCe a￿1 SUp￿rt costs Inole 51
248,990
248,990
4,223,338
4,223,338
Unre&ricted
funds
Restricted Tot81 fiJnd5
nds
2022
Grants expenditure (note 6)."
Grants pa￿ble
7,819,891
7,819,891
Gr8nt rel8ted sjpport co*s
Govemance and support costs (note 5)
717,926
117,926
7,937,817
7,937, 817
Allocation of support costs
Gov8rnanc8
Support
2023 Bass of
£ apportlonment
Subscriptions
AdK*rtising & matheting
Insurance
1,725
1,788
2,154
2,916
8,512
16121
38,083
7,625
6,220
139,342
1,090
2.675
5,525
1,725 Supwrt cost
1.788 Supwrt cost
2,154 SuppDrt Cost
2,916 Supwrt Cost
.512 SuppDrt cost
16121 Supwrt Cost
38,083 Time Spent
7.625 Supwrt cost
6.220 SuppDrt Cost
139,342 Supwrt cost
1,090 Supwrt Cost
2.675 Supry)rt Cost
5,525 Supwrt Cost
4440 G0￿ManCe cost
2,100 Gownance cost
25.407 Gownan¢e cost
Gas
Bank Charges
Wages and salaries
Sutconlractors
Tra￿1
unreco￿￿db1e landlord costs
Sundry 8xp8nse5
Rates
Security
Audit fees
Other fees payable to the auditor
Professional fees
4,440
2,100
25.407
31,947
217,043
248,990
-18-

Docusign Env8bp& ID.. A19F8B5E-AFF94354-ADA4E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Alloeatlon of support costs Icontlnuadl
Govemance
Support
2022 Ba￿$ of
£ apportionment
Subscriptions
InSu￿nCe
Electricity
Gas
Bank charges
Wages 2nd salaries
Sundry expenses
Rales
Security
Audit fees
Other fees payable to the auditor
Pnfessional fees
615
3,435
5, 730
443
(300)
56,814
40
18,049
27,459
615 Support cost
3,435 Support cost
5, 730 Support cost
443 Support Gosl
(30Q) Support cost
56, 8f4 Time spent
40 Support cost
18, (M9 Support cost
27,459 Support cost
5, 280 Govemance cost
348 Go¥Emance cost
13 Govemance cost
5,280
548
13
5, 641
t 12,285
117,926
Analysis of grants
The charity undertakes its charitable activities through grant making and awarded grants to a number
of org8nis8tion5 in furtherance of its oharitable activities.
2023
2022
Balance payable brought forward
Preiiously awarded grants released
New grants awarded in the
3,974,348
7,819,891
Net grant cost in the period Inole 41
3.974.348
7.819, 891
3,974,348
7,879, 897
Grants p8id in the period
13,974,348)
(7,819, 891)
Balance payable carried forward
During thé yèar grants wèr8 madè as dètailèd bèlow..
-19-

Docusign Envelop& ID.. A19F8B5E-AFF94354-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysls of grants leontlnu•dl
Anatysis by institution
2023
2022
Ajmal Foundation
Lokhar)dwala General Hospital
Masjide Tauheedul Mosque RenO￿tion
Blackbum Marf(az
Education India Public Trust
Hakim-ul-lslam Academy Society
Intemational Humanitarian Relief
Malawi Relief Fund UK
Munshi Trust
Valan Hospital
Welcare Hospital
Masjide Vali
416,834
2,626,574
7,014
30,000
59,215
41,134
2,193.397
101,253
310,000
2,079.714
)5,585
20,423
5.158
46,166
96.000
2,136.350
668,338
36,061
15.023
3,974,348
7,819,891
Anatysis by ¢8tegory
2023
2022
Education
1,115.301
2,411,271
321,061
3C16, 895
6,398, 709
91,735
648, 000
154, 597
140, 555
80, (IOQ
Health
Housing
Orphanage
Social
Water
89.215
37,500
3,974,348
T,879, 891
Auditor's remuneration
The auditor's remuneration amounts to an audit fee of £4,500 12022.. £4,080) excluding VAT and
fees in relation to assistance with charity tax affairs of £95012022.. £3201 exduding VAT.
-20-

Docusign Envelop& ID.. A19F8B5E-AFF94391-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Trust•ès' and kay managèmènt parsonn•l rèmunaratlon and •xpènsas
The Trustees neither received nor waived any remuneration during the period.
There were no employee benefits received by key rnanagement personnel during the period. The
charity considers its key management personnel comprise the two Trustees who make all decisions
regarding the awarding and payment of grants to projects and the voluntary advisory subcommittee.
The Trustees did not have any expenses reimbursed during the period.
10
Staff costs and employee benefit5
The average monthly number of employees and full time equivalent IFTEI during the period was as
follows..
2023
Number
2022
Numbar
Charitable acti￿11¢$
The total staff costs and employee benefits were as follows..
2023
2022
Wages and salaries
So¢ial security
Defined contribution pension costs
37,788
55,000
201
1, 613
295
38.083
56,814
No employees received tot81 etnployee benefits (excluding employer pension oostsl of more than
£60,000.
-21-

Docusign Envebp& ID.. A19F8B5E-AFF94391-ADA¥E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Tanglblè flxad assèts
Freehold
property
Investsnent A5%0ts under
prop8ty construction
Total
At l January 2023
5.560.752
4557.574
14. 178.326
Additions
Transfers
7.226
3.8￿.916
11,235.9611
3.862.142
1,235.961
At 31 December 2023
1,235,961
5,567.978
11,176,529
17.980,468
Depre¢lallotr)
At l January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
1,235,961
5,567.978
11,176,529
17.980,468
At 31 DeGeniber2022
5.560.752
8.557.574
14. 1t8,326
The investrnenl property valuation has been considered by the Trustees at 31 December 2023. they
consider the lair value to be equal to the historic cost.
12
Debtors
2023
2022
Trade debtots
Prepayments
32,583
29,520
69,983
62.103
69.9
13
Current asset investments
2023
2022
PrcEramme rdated i￿$[MentS
525.COO
525.0(
525,(KIO
525,000
Programme related investtnents are concessionary loans made to a charity beneficiary. These are
interest free loans repayable on demand.
-22-

Docusign Envebp& ID.. A19F8B5E-AFF94391-ADA4E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
14
Cr•dltors.' amounts falllng duè wlthln onè yèar
2023
2022
Trade creditors
Accruals and defeThed income
73,491
53,288
96,052
5, 280
126,779
101,332
15
Fund reconciliation
Balan¢e at
31 D8cèmb8r
2022
Balance at
31 Dèe8mbèr
2023
Income Expendlture
Transfers
UnrestriGted funds
8,643,114
8,501.086
253,297
1,638,005
6,008,050
4,869
1421,8711
13,685,721)
1115,7461
9,859,248
10,823,415
142,420
Zakat
Interpst
To181 UnreslriG1￿ funds
17,397,497
7,650.924
14,223,338)
20,825,083
RestriGted fvnds
Total funits
17,397,497
7,650,924
14,223,338)
20,825,083
Unr•5tricted fund5
Lillah
Lillah comprises the gift aid recovered on Zakat donabons. The religious restrictions placed on the
use ol Zakat donations for the original donor do not apply to the related gift aid income.
Zakat
Donations collected on annual religious grounds from able Muslims to help the poor. No
administrative expenses or other operating expenses are paid for by this fund.
Interest
Funds generated from interest received on the amounts held within the charity bank account and the
bank a¢¢ounts of individual Muslims, thesè funds ale dis¢harg8d under the guidan¢& of religious
ruling.
All funds may be applied for any purpose which falls under the primary objects and activities ol the
charity.
-23-

Docusign Enwebp& ID.. A19F8B5E-AFF94391-ADA4E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
14
Fund raconelllatlon Icontlnuèdl
Balance at
31 Decwnber
2021
8a13nce at
31 D8c8mb
2022
Income Expendlture
Transfers
UnTe*icted fvnd&
Lillah
Zakat
lft]leresl
8, t22, 788
12,841,382
358,266
801,000
3,206, 100
5, 778
(280,674J
f7,546,396)
(110, 747)
8,643, 114
8,501,086
253.297
Total unTrslriGted funds
21,322,436
4,012,878
f7,937,817)
17,397,497
Restricted funds
Total fvnds
21,322,436
4,012,878
(7,937,817)
17,397,497
15
Analysls of net assets between funds
Unre*icted
funds
Restricted
funds
Total
2023
Fixed assets
Cash at bank and in hand
Other current assetslliabilities
17,980,468
2,384,291
460,324
17.980,468
2.384,291
460,324
20.825,083
20.825,083
Unre*ricted R*icted
funds
fijnds
Totsl
2022
Fixed assets
Cash al bank and h8nd
Other GuTrEnl 88sels/li8biliti&s
14,118,326
2, 185,520
493, 657
74. 118, 326
2, 785, 520
493, 651
IT,39T,497
77.397,497
-24-

Docusign Enwebp& ID.. A19F8B5E-AFF94354-ADA4-E730BEBFBE33
ISSA FOUNDATION
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
16
Rèlai•d party transactlons
Mr Z Issa and Mr M Issa were both Trustees of the charity throughout the period. During the period
Mr Z15sa and Mr M Issa both tnade charitable donations to the charity.
The total of the charitable donations made by the Trustees was £6,000,000, with a further £12,050
from a close family member of the Trustees.
Income of £7,500,000 was received as a result of the UBS UK Donor-Advised Fund recovering Grft
Aid of £1,500,000 on these donations.
During the y88r th8 charity was r8charg8d costs r81ating to capital 8xp8nditure of £3,866,90812022..
£2,163,541) by Monte Developments Limited, a company in which Mr M Issa and Mr Z Issa are
directors and ultimale owners.
-25-