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← Muhammadia Saifia Education Trust

2025-03-31-accounts

Charity registration number: 1170057

Muhammadia Saifia Education Trust

Annual Report and Financial Statements

for the Year Ended 31 March 2025

Muhammadia Saifia Education Trust

Contents (continued)

Reference and Administrative Details 1
Trustee' Report 2 to 4
Statement of Trustee' Responsibilities 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 18

Muhammadia Saifia Education Trust

Reference and Administrative Details

Chairman Mr Sohail Liaqat Trustee Mr Sajid Amin, Treasurer Mr Sohail Liaqat Mr Waqar Ali Secretary Mr Waqar Ali Charity Registration Number 1170057 Principal Office 120 Waterloo Street Oldham OL4 1EU Independent Examiner Riaz Ahmad & Co Limited Chartered Certified Accountants Lord House 51 Lord Street Manchester M3 1HE

Page 1

Muhammadia Saifia Education Trust

Trustee' Report

The trustee present the annual report together with the financial statements of the charity for the year ended 31 March 2025.

Objectives and activities

Objects and aims

The organisation objective is to provide an education centre for the local comminity which promotes the islamic faith in the Oldham area, the centre welcomes members of all communities,ages and groups.

Objectives, strategies and activities

5 daily congregation prayers and weekly congregational prayer and sermon led by an Imamfrom th elocal community

Children's evening classes to teach basic islamic principles, Holy Quran and basis islamic rules and regulations.

Weekly gatherings held inevening, open to general public especially the youth, to discuss community problems, broaden knowledge, relate historical events and current issues.

Monthly gathering where we invite guest speakers and members of public from a wider area to share thoughts and valuable advice onsocial issues, focus on islamic values and meditation.

General education classes fro general public for recitation of Quran in correct pronounciation with urdu/english translation.

Fundraising disclosures

Funda are all donations by the local population.

Public benefit

Five daily congregation prayers, religeous classes, weekly an dmonthly gathering and other special events are held for th members of th epublic where everyone is welcome.

The trustee confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Grant making policies

We do not make grants to anyone or any prganisation.

Use of volunteers

Trustees are all volunteers as well as other people who help with general upkeep of th emosque and ensure all activities are organised in a profesional manner.

Structure, governance and management

Nature of governing document

Mohammadia saifia Education Trust is constiuted as a charitable trust,registerd with the Charity Commission and govened by the its Constitution.

Page 2

Muhammadia Saifia Education Trust

Trustee' Report (continued)

Recruitment and appointment of trustee

The current trustees are responsible for the recruitment and appointment of further trustees after consultation with the members and prominent members of th elocal community. Decision is determined by the vote of trustees. We aim to recruit from the regular participants. We are mindful of the skills required and shared values.

There has been no change in the current year.

Trustees meet once a month or as and when required and are responsible for all decisions taken in relation to the running of the charity. Due to the small scale of the workload. th etrustees handle all day to day and financial matters and no committees are required or formed.

Induction and training of trustees

Any new trustees are given full induction and trained on the role and initially paired with the experienced trustees to offer full training.

Arrangements for setting key management personnel remuneration

Trustees are volunteers and are not remunerated for their role. They can claim reasonable expenses but none has been claimed to date.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustee, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Page 3

Muhammadia Saifia Education Trust

Trustee' Report (continued)

The annual report was approved by the trustee of the charity on 16 March 2026 and signed on its behalf by:

......................................... Mr Sajid Amin Trustee

Page 4

Muhammadia Saifia Education Trust

Statement of Trustee' Responsibilities

The trustee are responsible for preparing the trustee' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee are required to:

The trustee are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustee 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 trustee are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustee of the charity on 16 March 2026 and signed on its behalf by:

......................................... Mr Sajid Amin Trustee

Page 5

Muhammadia Saifia Education Trust

Independent Examiner's Report to the trustees of Muhammadia Saifia Education Trust

I report to the trustee on my examination of the accounts of Muhammadia Saifia Education Trust for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustee of Muhammadia Saifia Education Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Muhammadia Saifia Education Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of Muhammadia Saifia Education Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Riaz Ahmad FCCA Chartered Certified Accountants

Lord House 51 Lord Street Manchester M3 1HE

16 March 2026

Page 6

Muhammadia Saifia Education Trust

Statement of Financial Activities for the Year Ended 31 March 2025

Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
funds
£
31,647
31,647
(706)
(28,285)
(28,991)
2,656
2,656
35,966
38,622
Unrestricted
funds
£
32,566
32,566
(23,851)
(23,851)
8,715
8,715
27,251
35,966		 Total
2025
£
31,647
31,647
(706)
(28,285)
(28,991)
2,656
2,656
35,966
38,622
Total
2024
£
32,566
32,566
(23,851)
(23,851)
8,715
8,715
27,251
35,966

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14.

The notes on pages 9 to 18 form an integral part of these financial statements. Page 7

Muhammadia Saifia Education Trust

(Registration number: 1170057) Balance Sheet as at 31 March 2025

Note
Fixed assets
Tangible assets
11
Current assets
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
14		 2025
£
7,721
32,401
(1,500)
30,901
38,622
38,622
38,622		 2024
£
8,686
28,280
(1,000)
27,280
35,966
35,966
35,966

The financial statements on pages 7 to 18 were approved by the trustee, and authorised for issue on 16 March 2026 and signed on their behalf by:

......................................... Mr Sohail Liaqat Chairman and trustee

The notes on pages 9 to 18 form an integral part of these financial statements. Page 8

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Muhammadia Saifia Education Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee meetings and reimbursed expenses.

Page 9

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company 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 to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

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

Page 10

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 11

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 12

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
28,826
2,821
31,647
32,566		 Total
funds
£
28,826
2,821
31,647
32,566

3 Expenditure on raising funds

a) Costs of trading activities

Note
Other direct costs of activities for generating funds
Total for 2025		 Unrestricted
funds
General
£
706
706		 Total
funds
£
706
706

Page 13

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4
Expenditure on charitable activities
Note
Governance costs
Total for 2024		 Unrestricted
funds
General
£
28,285
23,851		 Total
costs
£
Total
funds
£
28,285
23,851
Total
expenditure
£

5 Analysis of governance and support costs Governance costs

Staff costs
Wages and salaries
Audit fees
Other fees paid to auditors
Depreciation, amortisation and other similar costs
Other governance costs
Total for 2025
Total for 2024
6
Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets		 Unrestricted
funds
General
£
12,840
500
965
13,980
28,285
23,851
2025
£
965		 Total
funds
£
12,840
500
965
13,980
28,285
23,851
2024
£
965

Page 14

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

7 Trustee remuneration and expenses

8 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2025
£
12,840		 2024
£
12,240

No employee received emoluments of more than £60,000 during the year

Page 15

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

9 Auditors' remuneration

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

11 Tangible fixed assets

Cost
Additions
At 31 March 2025
Depreciation
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
12 Cash and cash equivalents
Cash on hand
Cash at bank
13 Creditors: amounts falling due within one year
Other creditors
Accruals		 Furniture and
equipment
£
9,651
9,651
1,930
1,930
7,721
2025
£
8,512
23,889
32,401
2025
£
500
1,000
1,500		 Furniture and
equipment
£
9,651
9,651
1,930
1,930
7,721
2025
£
8,512
23,889
32,401
2025
£
500
1,000
1,500		 Total
£
9,651
9,651
1,930
1,930
7,721
2024
£
8,971
19,309
9,651
1,930
1,930
7,721
2025
£
8,512
23,889
32,401
2025
£
500
1,000
1,500
28,280
2024
£
500
500
1,000

14 Funds

Page 16

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Balance at 1
April 2024
£
Unrestricted funds
General
35,966
Balance at 1
April 2023
£
Unrestricted funds
General
27,251
15 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
16 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 Incoming
resources
£
31,647
Incoming
resources
£
32,566		 Resources
expended
£
(28,991)
Resources
expended
£
(23,851)
Unrestricted
funds
General
£
7,721
32,401
(1,500)
38,622
Unrestricted
funds
General
£
8,686
28,280
(1,000)
35,966
At 1 April
2024
£
28,280
28,280
At 1 April
2023
£
25,751
25,751		 Balance at 31
March 2025
£
38,622
Balance at 31
March 2024
£
35,966
Total funds at
31 March
2025
£
7,721
32,401
(1,500)
38,622
Total funds at
31 March
2024
£
8,686
28,280
(1,000)
35,966
At 31 March
2025
£
28,280
28,280
At 31 March
2024
£
25,751
25,751

Page 17

Muhammadia Saifia Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

17 Related party transactions

Page 18

Muhammadia Saifia Education Trust

Statement of Financial Activities by fund for the Year Ended 31 March 2025

Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2025
£
31,647
31,647
(706)
(28,285)
(28,991)
2,656
2,656
35,966
38,622		 Total
Unrestricted
Funds
2024
£
32,566
32,566
-
(23,851)
(23,851)
8,715
8,715
27,251
35,966

This page does not form part of the statutory financial statements. Page 19

Muhammadia Saifia Education Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Income and Endowments from:
Donations and legacies (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2025
£
31,647
31,647
(706)
(28,285)
(28,991)
2,656
2,656
35,966
38,622		 Total
2024
£
32,566
32,566
-
(23,851)
(23,851)
8,715
8,715
27,251
35,966

This page does not form part of the statutory financial statements. Page 20

Muhammadia Saifia Education Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2025 (continued)

Donations and legacies
Appeals and donations
Gift Aid tax reclaimed
Raising funds
Consumable tools
Charitable activities
Wages and salaries
Water rates
Light, heat and power
Insurance
Repairs and renewals
Telephone and fax
Books & Stationery
Sundry expenses
Travel and subsistence
Accountancy fees
Depreciation of fixtures and fittings		 Total
2025
£
28,826
2,821
31,647
(706)
(706)
(12,840)
(575)
(5,281)
(794)
(6,030)
(404)
(696)
(200)
-
(500)
(965)
(28,285)		 Total
2024
£
32,566
-
32,566
-
-
(12,240)
(415)
(5,648)
(829)
(2,000)
(170)
(609)
(25)
(450)
(500)
(965)
(23,851)

This page does not form part of the statutory financial statements. Page 21