REGISTERED COMPANY NUMBER: 07803945 (England and Wales) RfiGISTLi IIEI D CHAI£I'I'Y NUMBEI R: 1171380 REPORT OF THE TRUSTEES AND FINANCIAL STATEI MENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR WALTHAM FOREST NOOR UL ISLAM Preslons & Jacksons Paitnei'ship LLP Statutoi'y Auditors 364 - 368 Cranbrook Road Ilford IG2 6HY
WALTHAM FOREST NOOR UL ISLAM CONTENTS OF THE FINANCIAL s'fATEMENI'S FOR THE YEAR ENDED 31 DECEMBLR 2023 Pxge Repoi'l of tlie Tru$tees I to 14 Repoi-t of tlie Iiidependent Auditors 15 to 18 Statement of Financial Activities 19 Statenlent of Financial Positio 20 to 21 Statenient of Cash b lows 22 ]Yotes to the Statement of Cash Flows 23 Notes to the Flnanclal Statements 24 to 36 Detailed Statement of fiinaiieial Activitie$ 37 10 39
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTEES FOR THE YFAR ENDED 31 DECEMBER 2023 The trustees wlio are also dii'ectors of tlie cliai'ity foi. thc pui'poscs of thc Coinpanies Act 2006) pr¢,qent tl)eir repoi't witli the fiiiancial stateincnls of tlie cliai'ily for tlie year end¢d 31 Dec¢mbci' 2023. The li"iistees liave adopted the piovisions of Accounting and Reporting by Cl)arilies.' Statement uf Recommended Pi'actice applieablc to el)arities picpai'ing theii. a01)tS in accoi'daiice with the Financial Reporting Standard applicable in tlie UK and Republic of Ireland (FRS 102) (cffcctivc l Januajy 20191. Walthai)) Foi'est Nooi. Ul Islain (Noor Ul Islain) was oi'iginally formed lil 1990 with the aiins of promoting education amongst Muslim childi'en and tlie advancetllent of Ilic Icligioi) oflslam. Noor Ul Islam was prcvioiisly registei'ed as a Cl)arity undei. I'egisti'ation nuinber 1017780. Following the formatioii of tlie Waltliam Foi'est Nooi. Ul Islam Company, tlic ncw company was rcgistei'ed as 2 cliarity (registration 1171380). The oi'ganisation is also regislcred in Ei)gland and Waleg undei. Company nutnber 07803945. Throughout the histoi'y of Nix)i' Ul Islam, vai'ious sei'vices and activities have been wn and held in order to mect oui. objcctivcs and suppoi't the lo¢al commui)ity. Dii'ectoi's {Tstees) give due regard to the Cl)arity Commissioi) guidance on 'Public Benefit,. Through tl)e proinotion of good quality edu¢ation and siippoi'ting the advancement of Islain. we have been able tu den)onsli'ate how Muslims iinpi'ove the lives of those in the UK. Iiitei'faith events and co-opci'alion with the local authoi'ity, police cind other public bodies have i'esulted in iii)provemeiits iii tl)e quality of lives for those living close by aiid tliose furtlicr afield. The Organisation decides on which services to provide based on its knowledge and experience of woi'king in the eoininunity, by evaluating past sCivice. and by confulting witli useF% and othei. stalceholders. Page I
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTEII S FOR THE YEAR NDED 31 DECEMBER 2023 OBJECTIVES AND AcfivITIES Objeclives and aims Tl)¢ pi'oiiiotioj) of good quality cducalion lias bceii a conlii)uiiig aiin alid obj¢ctivc of tlic Oi'ganisalion since ils establisliinenl. Tl)i'ough donations i'eccived, Nooi. Ul Islaiii lias been able to provide ail ii)crea5ing nuiiibei. of services. By offeiing good education, it is felt that this lielps t]ie comiiiunity to be mol'e employable and therefore coi)li'ibules to the redu¢ii)g of10¢21 povei'ty. Tl)c Oi'ganisation also aiins to pi'oinole a unitcd coininuiiity. It is contiiiual in its coi)deinnatioii of hate criiii&q aiid has in place specific cliecks to ensiii'e extei'nal spealcers at Noor Ul Islam are pi'oijerly vetted. Tl)¢ following are soine of tlic activitiesls¢rvices provided by Nooi. Ul Islain.. Full Timc Aaliiiiiyyal) class Gi'adualing fciiialc Scholars in Islaniic Tlieology AdvisDry dnd iiiformation sei'vice Healtli proinotion and advice Tea cliib Regular clotlies collection for Charity Youth get-togetheis Scl)ool visits to tlie Mosque Life Saving fii'st aid session M#cinill#i) Coff¢¢ Moi"nings Full tiiiie Islamic Pi'imary School Lectures and seminai's Pre-scliool Quran classes for woinen Regular prayei's in cor1"egatiOft Zakaal colleclioii aiid dists'ibution seivice Page 2
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 OBJEI CTIVfS AND ACTIVITIES Sigiiificaiit Activities NOOR UL ISLAM PROJF.CTS: Below is a list of some of tl)e pi'oject and depai'tnients i'un at Noor Ul Islani. (l) Aalimiyyah Depai'tment Noor Ul Islaiii Aaliiiiiyyali depai'ltllent continues to teach Muslim Woinen Islamic Theology. This five-year course is oi)ly one of a few in the ai'ea lo leach al this lev¢l. (2) Funeral services Nooi. Ul Islam had to Icmporarily suspend its funeral sei'vicc. Howevei., we continue to work with other funer21 directois foi. our congregation to use if needed. A Funcral Awai'cii¢ss coursc, to infoi'm uscl's what l)appens dui'ing a funei'al, in association witli 'Aclion for Hiimaiiity,, was orLFanis¢d. {3) Madra5sa Tl)e Insi?ire Mddrassa holds aft¢r-schiM)I classes whei'e Quran and Islainic studies al'e taught. Thei'e al'e two Madi'assa sessions held at Noor Ul Islam. Tl)e weekday Madra8sa runs fi'om Monday to Friday from 4..40pm to 6=40pin. Thc Saturday Madi'assa session nins froin l Oaiii to 12..30pm. Inspire Madi'ass2 is a part of Noor Ul IslaiD. There is also havc a 'Hifdh' class (Quran inetnoL'isation) wliich is held on Monday to Fi'iday and which runs froin 4..30pin to 7.00pm. {4) Mosque This is wliere the five daily regular prayei's take place as well as the main Fi'iday congitgatsonal pray¢i'. Dui'ing ¢onstructioi) woi.k, pl'ayers ai'¢ bcing Iicld in Icmporai'y facilities. Sermons and talks given are in English to ensui'e that this is undei'stood by everyone. (5) Pre-school Tl)e No(>r Ul Iblam Pre-school has continued to provide a brigl)t and hedlthy environment foi. childi'en aged thi'ee to five years old. (6) Primary Sehool Nooi. Ul Islam Pi'iiiiary Scliool continues to piovide a good quality education to boys and gil'ls aged foul. to I l. 'Hifdli' classes, where pupils can memoi'ise the Qiiran dui'ing tliese supplementary scssions, aLE also pi'ovided. (7) Pi'oject Rebuild Since 2014, Noor Ul Tqlam haq embarked on the eon%li'u¢tioll of a new complex that will Ilouse more services and provide stats of tl)e ai'ts facilities. I'his iiew buildii)g will ei)able the Oi'ganisalion to meet its objectives in iinproving tlie quality of service pi'ovided to t])e local Coirnnunity. This new building is expe¢led lo cost about £13 million. By the cnd of 2023, ai-ound £9.8 inillion hav¢ bccn donated oi. lent to 'Project Rebuild" It was hoped that the building would have been completed eai'lier but Covid-19 lo¢kdown had not only forced the building works to bc put on Iiold biit this lias also led to ali'eady planned fund-raising events be put on hold. Thc projcct managcr 1$ Kempton Sinid) Liinited. Appeals for funds al'e made to ihe public who is also kept infornied of the work prow'ess via the website and social Inedia pag¢s of Nooi. Ul Islai)). Page 3
WALTHAM FOREST IYOOR UL ISLAM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 OBJEI CTIVES AND ACTIVITIES Public beiiefjt Nooi. Ul Islam pi'ovides welfare, social and edLicalional gervices to the local community. It woi'ks with otliei. foi'wai'd thinkii)g oi'gaiiisations to pi'ovide better sei"vices foi. the coiiiiniinity to bcnefit fi'oin. Thc trust¢C5 l)av¢ had i'egai'd for the Cl)ai'ity Coiiiiiiission on piiblic benetit. Strategy Sliort tei'ni strategy The Directors {Tiiistees) ensure tliat Noor Ul Islani continues lo sei've lo the local cominunity wliilst pi'ovidiiig tlie saiiic higli levcl 8tandai.d of .%ei'vices. Long Tci'm Sti'*tegie.s Tlie new buildiiig is expected to bl'ing tlie all tl)e pcoplc of tl)e community togeil)er ineluding the people of tlie saine clnd diffei'ent faiths. Volllnteei's Aftei. goiiig tlll'ougli a thorough chccking pi'occss, successfiil volunteeis are inducted to tlie Organisation. It is wortli iioting that tl)¢ Organisation lias been constaiitly ti'ansfoi'ined tlii'ougli tl)e work of ils voliii)teers. Ai'eas of help by Voluntee includc stcwards at cvents sucli A% the Siiininer Fete, l)elping with fiindiaising and suppoi'tiiig stalf aiid Twst¢es dui'ing the regLilai' pi'ayei's. Page 4
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTEEI S FOR THE YEAR F.NDED 31 DECEMBER 2023 STRATEI GIC REPORT AchievomeJJt atid peJ'(orinaiice Cliaritable aelivilies Soinc of thc activities events hcld by Nooi. Ul Islam in 2023 al'e listed below. Thes¢ eveiits liavc enabled the Organisation to achieve its varioiis objective6 including the providing of eduLdtion foi. cliildrcn, proinoting tlie advancement of Islain including the stiengtheniiig lies witliin the ¢oininunity and developiiig intei'failli relatioiis. {1) Clotlies ColleLtioiis The Oigaiiisation l)ulds clothes collections thi'oughout the yeai., and tl)e donat¢d items are remitted to 'Islainic Relicf foi. distribution to tlie needy and selling al tlicii. nuiiieTOUS cl)ai'ity sliops. (2) Dinnei. event Noor Ul Islam held its annual Cliarity Dinner in Januaiy 2023. (3) Healtli Iii association with the'British Islamic Medical Association,, a "Lifc Saving" session, whei'e basie cmergertcy life-saving skills were taught, was oi'ganised. (4) Tea Club NIMir Ul Islain lias started we¢kly tea ¢lubs for brothet3 ai)d sisters over 60.Thcse sessions are held scpai'ately on altei'J)ate weeks for bi'other.q and sister8 and are designed to provide a platfom) to shal'e their thouglits and life expei'ienccs. {5) School Visits A numbei. of visits fi'oni local schools al'e l)osled ai Noor Ul Islain Mosque. This enables local pupils to learn about Islam and to understand the i'ole of a inosque. (6) Suinmer Fete Thc annual Suinmer Fetc weekend look place in July at tl)e Monoux College gj'oiinds. Additional i)r¢cautioi)s weie taken, due to veiy hot wealliei., but nevei'theless the community Cc1me out and suppo)rl oui. event. This was a success. (7J'I'alks In 2023 Noor Ul Islam held a number of educational talks, including'The Final Sernion,. {8) Taraiveeh Prayers in oui- Neiv Bullding Nooi. Ul Islain W8b able to use, l¢mporarily, t]ie new pi'emises in March/Api'il 2023, during Randan, where Taraweeh pi'ayci's werc hcld. Page 5
WALTHAM FOREST NOOR UL ISLAM REI PORT OF THE TRUSTLI ES FOR THE YEAR ENDLD 31 DECEMBER 2023 STRATCGIC Rtl PORT Achieveiiient and pei'foi'inaiice Fuiidl'aisiiig 2¢tivities FUNDRAISING Appi'oaeh to f<uiidrai5ill¥ Donoi's to Nooi- Ul Islani can bc assiired that Nooi. Ul Islaiii coiiiplies witl) the I'cgulatoiy standards foi. fundi'ai5ing. A5 well as being a registered cliai'ity, we are also i'egistered witli tlic Fuiidi'aising Regiilatoi. and, as siicli, al'e cominitted to the Fundrxising Proiiiise and the Code of Fiindi'aising Pi'actic¢. To i'iin Nooi. Ul Lslani, we rely heavily on donations. Pi'imary Scliool and Madi'assa arc self-financed by way of schoollqessions fees and aiiy &urplus¢s ai'ising from these depai'tment5' are eai'lirked for th¢ impi'oving of tlie sciwices pi'ovided The Pi'e-.%ehool i'eceives funding fi'oiii tl)c local autlioiity. Pi'oject R¢build loui. project to build new pirmises) is wliolly fii)anced througli ndial51ng and donations. By beii)g r¢gistered witl) the Fundi'aising R¢LJulatoi' wc comply with all tlie I'elevant standards set out iii their Code of Fiiiidi?ising Pi'acticc. We do not use third-pai'ty gi'oups for fundi'aising as tliis is all done in-house. We have safeguaids in place wlien volunteeis lielp us to protect oiii. suppoi'ters aiid tl)e I'eputation of oui. cliarity. Our coniplaints policy explaii)s how an individual can coinplain. We i'eceived no coinplaints related to fui)di'aising in 2023. We slate tliat we will I'espond io all flindraising complaints within 21 days in linc with our complaints policy. Any sei'ious coinplaints are escalal¢d to oui. trustees so they cali considei. any Icssoiis to bc learnt. We repoi'l to the Fuiidraisiiig Rcgulatoi. oi) tl)e totality of oui. coinpl2iiits wliei) requcstcd. Coniiiiei'eial particlpatoi'slProfessionxl fuiidraisers At Nooi. Ul Iblain, iio i)I'ofessional fundi'aisci"% al'e used. Wl)ei'e woi'kii)g staft al'e iiivolved in fundi'aisiiis events, Ihi'ough tl)¢ir paid I'oles, tliis is Inade clcar to suppoi'tcrs. Proteetiiig tlie Public Well cstablislied pi'o¢edui'es aiid policic$, to prolcct vuliJei'able people, are iii place. Fuiidi'aiseis (staff aiid volunteei's) air faiiiiliai. with tlie Codc of Conduct aiid Iliey eiisure tliat this is abided by.at all tii)ies. The Organisation 8ppI'oaclics i'egulai. Worshippers, Useiy aiid Pai'cntslcarei's of pupils to SLlPPOI"t tlie fiindrai%ing cffui'ts. An einail list lias also been Loiiipiled, and, whenevei- eniails al'e sent to the pcople on this list (using Mail Cliimp),eacli person is given thc opiion to uiisubsci'ibc. In 2018 witli the adveiJt of GDPR, individuals iiiust explicitly a'ee to join oiir niailing list. Annouiicements are also made to the coiigi'egation as to wl)at to expect froin local fijndraisei's. Pagc 6
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTF.ES FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIC REI PORT Achievement aiid pei'foi'inance Individual volunteer fiindi'ai%ciE are vetted and refei'en¢es obtained. If accepted as a volunteer, pliotograpliic ID card is givei) peiinitting to the newly appointed voliintecr to eitsble liimthei. to fundraiser for fixed pei'iod. An official Nooi. Ul Islain receipt boolc, wl)ich l)as been pi'upei'ly recui'ded, is also piovidcd so that lh¢ donoi. has a pi'oper reccipt for h]lie1. donations. At the end of tl)at pcriod, thc receipt books are relui'ned togciher with donations collected thus enabling tlie ie¢onciliation of donated ainounts. Volunteers att bricfed about thc policies and pi'ocedure% of the organisation arc and il is pointed out to tl)em to ensui'e that no one should feel piessured into giving iiioIi¢y. Volunteers 2nd staff al'e lold that it is not acceptable to have ali uiiirasonable intiusion on a person's pi'ivacy oi. lo use uni'easonably peJ'.sistent methods to ieceive a donation. Any undue pressui'e on a person to give a donatioii (of money or othei. property) is not peii))itled. Finaiicial review Finaneial position Thc FinanLial Stateinenls that follow relates to Nooi. Ul Islain for the year to 3 1st Decembei. 2023. Once these financial 8latcments arc approvcd, tliey will be signed following wliieh these accounts will be filed witl) both the Cl)aiity Coinmission and Companies House The financial stateinents will also bc Inade available oll tlie website of Nooj. Ul Islam and will be displayed promii)ently at the l-lcad Office. Hai'd coi)ics may also be obtained iipon wi'itten i'¢quests. Reserve Pnliey The Tivstees monitor th¢ rcsei've8 of the Charity on a I'egular basis. The Charity aims to maintain three Inonths of overheads as the I"eseives. This amounts to £375,000. At the yeai. end, the charity had £847,743 geiieral res¢ives excluding restri¢t¢d funds. The trustees are workiiig towai'ds maintaining £375,000 of fl'ee reseives. The Charity l)as approximately £4.8m inlcrcst fl'ee loans provided by tlie coiimjiinily. Tl)ese loans, which ai'¢ made foi. specific time pei'iods, arc i'epayable ovei. a pci'iod of tiine witl)oul excessiv¢ pi'essui'e on the future of the Charity. Fiiiaiieial Revieiv The Financial Statei))enls are set out on the following pages. The Financial Statements have becn pi'epar¢d in accoi.dance witli thc Chaiitics SOIIPS {FRS 102) "Accounting and Reporting by charities.. St#teinenc of Rccominendcd Pra¢ticc applicable in the UK and R¢piiblic of Ii'eland IFRS 1021 (¢ffcctive l January 20191 Finaiicial Repoi'ting Standai'd 102 'The Finai)cial Repoiling Siaiidai'd applicable in Il)e UK and Republic of Irelai)d" and the Coiiipanies Act 2006. The fiiiancial statements have been prepai'ed undei. the historical ¢osl conveJ)tion. Tl)¢ total funding receiving in the pej'iod aiiiounted to £2.3m.The total I'esouires cxpended wei'e £1.8tn. The total funds caii'ied foi'wai'd as al 31st December 2023 wei'e £7.2m of which £6.4m were i'estricted and £847,743 wei'¢ ui)i'estrict¢d. Page 7
WALTHAM FOREI ST NOOR UL ISLAM RF.PORT OF THE TRUSTEES FOR THE YEAR EiYDLD 31 DEI CEMBII R 2023 STRATEI GIC REI PORT Future plans Tlic inain Incdiiiiii~teiin aim of Noor Ul Islain is to liave its i)Iirposc-built premises, specifically designed tr) Ineet tlie iiceds of the wholc commiinity, coinplcted as soon as possible. It was plai)Iied that the coiistructioii of tlie Iiew buildiiig would have been coinpleted by now. However, with i'ising costs and tlie difficult eeoiioinic conditioiis tl)dt coiitiniie to prevail, Ilicie have been delays in tlie completion date. The situation is coiitinuoLisly being iiionitoi'ed and tlic plan of action r¢12ting to tlie complctioii of the new building is Irassessed and I'evicwed accordiiigly. STRUCTURE, GOVERNATr4CE AND MANAGEMENT Governlng dncuineiit Tlie cliai'ity is a coinpaiiy, liinited by guarai)tee, as defiiicd by tlie Compaiiics Act 2006. Reci-uitment 8nd appointnieiit of new ti-ustees Tl)e Ti'usLees, wlio al'e I'cspoiisiblc foi. Ilie maiidgeineiil and adniinisti'atioii of tlie Charity, al'e listed 01) page 9 of tl)is i'eport. T5)¢ Boai'd of Ti'ustces include foiir Office Bcarei's.. Chairiiiaii, Assistaiit Cl)aii'maii, Seci'etaiy and Ti'easuiri. Tiustees al'e nominated aiid appointed by the Boai'd of Trustees. To be eligibl¢ foi. trusteeshipj the Boai'd of Ti'ustees will look foi. those peoi)le who I"e&iiilai'ly aiiend events and functions orgai1i5¢d by the Oigai)isation and wlio eitliei. sliow ai) iiitei'est iii or offei. to volui)teci.. Ti'uste¢s al'e valuable asscts foi. th¢ Chai'ity because tliey briiig a wealtli of expei'ieiice aiid ki)owlcdge of Coinmunity and cliai'ity work. Tl)ey also act as a watclidog over th¢ 2ctiviÉieq of tlie Chai'ity and providc consti'uctive advi¢e. Any individual noininated to becoine a Ti'U.8tee is invi*d to attend the Boai'd of Ti'ustecs meetiiig.$ as an obscrvei.. Th¢y al'e introduced io existinLJ Ti'ustCCS k)iid ai'¢ given au oppoi'tunity to ask about the charity's etivities and funding of tlic Cliai'ity, as well a5 its aiins and objectives. Du¢ coiisidcittion is giveii to tl)e peiEQtI's eligibility to sei've, oi'igiiial specificalioii of tl)e skill requii'eiiicnls. i)eLEonal coinpctence, aiid specialist knowledge of tlie poteiitial ncw Trustcc, by tl)c Boai'd. Prior to coiifirination of tlie Pobltion ot. Ti'LlStccs or Govei'nors, a DBS clicck is cai'i'ied out during the siiitability pi'ocess. Nominated Trustees al'e niade awai'e of theii. duties aiid i'esponsibilities as Tiustees of a Cliarity undcr tlie Cliai'ities Act. They tlicn assist on projects ai)d activities rLin by Noor Ul Islain and al'c given a task to deal witli on tlicir owii and theii. pei'foriiian¢¢ al'e Irgiilai'ly nionitoi'ed Il)i'ough iiieetings. School goveinoi's aiE delegated a cei'taiii Amoui)t of auilioi'ity lo ruli the PrillrY School. Tlie Boai'd of Govei'noi's Ineets on a I'egular basis. It ei)SLlI'es Il)at pi'opei. iiiles and policies, which al'e iii accoi'dance witl) tlie policies sct out by the Dcpaitmeiit foi. Educatioii, al'e in place and implenicnted. Tl)cy tl)eii I'cport back to the Boai'd of Trustccs. Governors are appointed in a similar way Lo Tn)stees, with a pei'iod of indiiction given to allow tlie Boai.d of CJovei'nor.4 to ascertain whethei. tl)e individual is suitable. Par¢nt Govei'noi's al'e also ppointed in a similai. manner. Page 8
WALTHAM FOREI ST NOOR UL ISLAM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Sti'u¢tui'e Govei'nanee & Management Tlie Oi-gaiiisation Walthani Foi'est Nooi. Ul Islain was established in 1990 as a plaee of worship and latei. it developed into a coinmunity centi'e which calcrs for the needs of the Musliiits 2nd others in the vicinity. It became a i'egistei'ed cliai'ity in 1993. Its inain depai'tments cuttently Compi'ise of a Mosque, Pre-school, Pi'imary School. Womcn's Group, Madiassa and an Aaliiniyyah depai'tmci)t (gi'aduatii)g female 5cI)olai's in Islai))i¢ Theology). The Oi"gFdP nisation is governed by its Articles of Assoeiation which sets out its. aims and rules. The Boai'd of Dii'ectoi's (Ti'iistees) is ultimately irsponsible foi- Noor Ul Islain as a whole. The day-to-day responsibilities of some ai'eas al'e then delegalcd to manage13 and other staff of the different dcpartmcnls within the Organisalion. Page 9
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTLES FOR'I'HE YEAR ENDED 31 DECEMBII R 2023 STRUCTURE, GOVERNANCE AND MANAGEMII NT Decision making Key Per%oIiiiel Tlie Boai-d of Diiectors lake an active role in the niajoi. decisions of th¢ oi'gaiiisation. At i'egulai. Ine¢tings, Directols will, directly oi. indii'ectly. discuss aiid involve themselves to ensure tliat projects #I'e cariied out to the eoi'i'ect specifications. Every Head of Department will plai), oi'ganise, and manage hislhei. i'espective department and rcport b2ek to theii. sub_coiiiiiiitt¢¢slBoai'd. Managen)ent and staff The Inanagein¢iil of the Oi'ganisation is t]ie I'espoiisibility of the Tiustees wlio incct forjnally, at least, six tiiiic8 a yeai.. The day-to-day Inanagenient of diffei'ent depai'tnients. sucli as the Head Office, Pi'iinary Scliool, Pi'e-sehool and Aaliiiiiyyali classes is theii delcgatcd to tli¢ respective Headteacher oi. Manager, who ale suppoi'lcd by b¢l)ior Leacl)ers andloi. adiiiiiii51rativ¢ staff. Tlie Pi'iiiiaiy School Headteacliei. also attciids botli tlie regular meetings of tlie Board of Governors Ineetiiig5 &nd the ineetings of tlie as tl)e Sub-C¢)Ji)Inittee Mi. Aslani Hansa, Es tlie Opeiatioiis Managci. al thc H¢2d Office. Aslam is the son of Mr Yusuf Hansa. Mr Aincen Miisb&lly, is the Finance Mai)ager al Nooi. Ul Islaiii Mrs Hawa Haiisa is employed at tlie Nooi. Ul Islaitt Pi'e-school as the Inanagci.. Hcr l)usb2nd, Ubaid Hai)sa, is a Trustee. He is excluded froiii cerlaii) Inatters wl)ieli I'elate to staffiiig oi. otliei. issues at ilie PTe-sclii)ol. Mr Hussain Sliefaar is the Head Tcacli¢i' at Nooi- Ul Islam Priinary School. Mr Umaii. Hussaii) is einployed as tlie Manag¢i' of tlie Aalimiyyah depai'tinent. All Trustees have independent acce&s to staff, including those who are Lelated to Tiustccs. Rcmiineralion for the Pi'im1c ry School Hcad T¢aclier and othei. Icey peiEonncl are based on pei'fonnance manaLTeinent tEviews against criteria set by the Board of Tiustees. Finance Tli¢ fiiidiices of the oi'ganisation al'e discussed al iiieetings of the Boai'd of Tiustees. The Oi'gani5ation also l)as an Anti-money [llde1.11]g Policy. All Ti"ustees have been inade aware of the guidance of the Cl)arity CotlllliSssioii on 'Piiblic Bcncfit,. The Boai'd ensiii'es tliat Nooi. Ul Islain is ftilly compliaiit with tlie gLiidelines of the Chai'ity Comjknissioll befoi'e deciding on activities to be undei'takcn. Incoiiic raised from tl)e activities of tlie Oi'ganisdtion is iisually used to cov¢i' at least part of tlieii. InnIng cost. General i'unning costs are financed tlirougl) donations and fundi'aising events. Barclays Bank PIC is the main Baiik used by the Oi'ganisation. Page 10
WALTHAM FOREST TrIOOR UL ISLAM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DEI CEMBLR 2023 STRUCTURC, COVERNANCC AND MANAGEMEN'r Coiinected Ch#i'ilie5 and orgxni$#lions Below is tlic list of soinc ot the gi'oup5, ehai'ity orgllnisatioiis and establisl)ments wliich th¢ Oi'ganisalion liaiscs will) iii ordei. to build a good woi'king i'elationsliip.. - Action foi. Humanity Bi"itisl) Jslami Medical Association Human Relicf Foundation Islain Cl)anncl and Islai)I Channel Urdu Islami¢ Relief Lanten) of Icnowlcdge Scl)ool Leyton Oi'ienl Coiiin)unity Gi'oup - Leyton Sixth Form College Loe21 Meinbeis of Pai'liainent Londoii Bot'ough of Waltliain Forcst Council and its Councilloi's Metropolitan Police Musliin Aid Musliin Cliarity Muslim CouDLiI of Bi'ilain Walthani Forest Coiincil of Mosqucs Wliipps Ci'oss Univei'sity Hospital Risk assessment Possible i.isks facing the wl)ole oi'ganisation al'e discussed in tlie TJ'uslee8' meetii)gs. Systeins al'e Itgulc1rly reviewed and have been updated. as and wl)en watTai)ted, in ordei. to diminish aiid mitigate idciitificd i'isks as identified by internal conti'ol systems. Wl)ere events, beyond the control or anticipalion of Ili¢ Tiust¢es occui., meetings are lield to discuss how to mitigate the risks. thiis ¢n8uring Nooi" Ul Islam continues to function effectively. Tl)¢ Trustees also I'ecognise the need to maintain tl)¢ finan¢ial irtdependence of the Chai'ity and continue to develop income sti'ategics to ensui'e the continuous financial stability of the Chai'ity in tl)e foresc¢abl¢ futurc. REFF.RF,NCF, AND ADMINISTRATIVE DETAILS Registered Company number 07803945 (England and Wales) ReL¥lStered Cliai'ity iiumber 1171380 Registered office 713 High Road Leyton Londoi) E105AB Pagell
WALTHAM FOREST NOOR UL ISLAM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBLI R 2023 Trustees Ti'iistccslDircctoi's and senioi. officet3 of the Ti'LlSt Btsai'd of Trustees Mi. YusufHansa- Cliaii'man Mi. Ubaid Hansa- Seci'etai'y Mi. Reshad.l()omun - Ti'ca%ui'¢r Mi. J4osseii Gogali - Execiitive Meniber Mi. Ulnar Haiisa - Executive Meinb¢r Mi. Muhainmad Hai'oon IChan-Execiitive Meinber (joined l O May 2024) Mi. Sliariff Jeiinetl)-1-11188aiii Executive Menibei. (I'esigiied 10 May 2024) Heads of Depai'tments Hcad Imain-Sl)ayid) Yoiisuf Patel Aalii))iyyali Dcpdl'tiiicnt- Mi. Uiiiaii. Hussain Inspii'e Madi'assa- Mi. Zafai. Syed Fl¢ad Office Opci'atioiis Managei. Mi. Aslaiii Haiisa FinaiiLe Mai)aLiei' Mi. Aiiieeii Musbally Pi'e-school Managei- Mi's Hawa Hansa Pi'imai'y Scliool Ileadteacl)ei' Mi. Hu5sain Sl)efaai' (Appointed in Septeinbei. 2023) Audit(>rs Pi'estans & Jacksons Partnci'sliip LLP Statutoiy Auditoi's 364- 368 Ci'anbrook Road Ilfoi'd Essex LG2 6HY Solicitors Tlic OL'ganisation, when requii'ed, seeks legal advice fi'oin Wliitefields Solieitoi's. {384-388 Hoc Slrect. London E17 9AA) ACAS and NCVO (National Coiincil foi. Volunlaiy Oi'ganisations) will also be consulted on iSSLies on an ad-lioc basis. Noor Ul Islaiii has also coi)ti'aLted the sei'vices of 'Peniiisula' foi. the provision of employinent advice. Advlsers Arcliitects: Ateliei- U W A Architects Officc 3 679-691, Higli Road Lcyton London EIO 6RA Quantity Surveyors: 1st Floor Noi'tli Stables 138,ICiiigsland Road Loiidoii E2 8DY Page 12
WALTHAM FOREST NOOR UL ISLAM REI PORT OF THE TRUSTEES FOR THE YLAR NDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Head Office 717-723 High Road Leylo London EIO SAB Ma.sjid, Pi'e-$ehool, AalimiyyAh class and Madyassa 717-723 High Road Leyton London EIO SAB Primary School 135 Dawlisl) Road Leyton Loiidon EIO 6QW STATEMENT or TRUSTEES, RESPONSIBILITIES Tl)e Iruste¢s (who al'e also Il)e diiectors of Walthain Forest Nooi. Ul Islam foi. the pui'poses of coinpany law) are responsible foi. pi'eparing the Report of the Ti'ustees and the financial statcinciits in aecordance witl) applicablo law aiid United Icingdom A¢¢ounting Standards (United Kingdom Generally Accepted Ac¢uunling, PJ%LIiLel iiiLluding binancial Repoiting Standai'd 102 "The Financial Reporting Standard applicable in the UK and Republic of Irelai)d" Coinpaiiy 18w requires tl)e tsustees to prepai'e financial statements for each finaiicial ycar wliich givc a tru¢ and fair view of the state of affairs of Il)e charitable company and of tl)e in¢ominuT resoiir¢es and application of rcsoui'ccs, including the in¢ome and expenditure, of tlie charitable company foi- that period. In preparing thosc financial stalciiiciits, th¢ ti'ustees are requii'ed to select suitable accountiiig policies ai)d then apply them ¢ottsistently,' obsei've tlie inctliods and pi'iiiciples in the Chai'ity SORP,. make jdgemenlq and estimates tliat are reasonable and prudent. state whethcr applicable accounting standards have been followed, subject to any Inaterial departures disclosed %Lnd explained in the financial stateinents; prepare tlie finaiicial stateinents on tlie goiiig concci'i) basis unless il is inappropriate to presume tlydt the cliai'itable company will continue in bu.%iness. The trustees are responsible for keeping pi'oper accounting records wliicli di¥clobe witl) reasonable ac¢ur2¢y at any tiine the financial position of tlie charitable eomp#ny and to enable them to ensure that the financial statcm¢nts coniply witli tlie Companies Act 2006. They al'e also i'esponsible for safcguai'dii)g tlic asscts of the chai'itable company and hence foi. taking re&8onablc steps for the pi'evcntion and detection of fraud and othei. ii'rcgulai'itics. In so far as the trustees 'e aware= Ihei'e is no relevant audit infom)ation of wliich the cliai'itablc conii)any's auditOTS are unaw81'e,' and the ts'ustees have taken all steps tl)at they ought to have taken to inake tlieiitselves aware of any relevant audit infoi'rnation and to e%tabli81i that the aiiditot3 al'e awaiE of th£it infoi'mation. Page 13
WALTHAiVI FOREST NOOR UL ISLAM RLI POR'f OF THE TRUSTLI ES FOR THE YEAR ENDII D 31 DEt CEMBII R 2023 AUDITORS Tlie aiiditorsPI'estons & Jacksoiis Paitnersliip LLP will bc proposcd loi. rc-appointnicnt at ti)¢ foitlicoming Aniiual General Meeting. Report of the trustccs, incoi'porating a strat¢gic rcport, approvcd by oi'dci. of thc boai'd of Ii'ustccs, as the company dii'ectoiE, on ..2.o_.l.P.:..A.+........ and signed on the boai'd's behalf by.. on5 Tiustee LESi+*rD Joo TrLJL¥eL [ tj I kfL&&/ Page 14
REPORT OF THI TNDF,PF.NDF,NT AUDITOR8 TO THE TRUSTEES OF WALTHAM FOREST NOOR UL ISLAM Matters on ivhich ive are required to i'epoi't by exceptlon We have iiothiiig to I'epoi't in Ir81)ect of the following Inatters whei'e thc Charities (Accounts and Reports) Regulatioiis 2008 1'equiiEs US to report to you if, li) oui. opinioii.. tl)e iiiforination given in tlie Repoi't of the Twslees is inconsistent in any iiialerial iespect witli the financial slateinents. or thc cliaritable coiiipany has i)ot kcpl adequatc accountii)g I'ccords,. or the financial .4tatemenls ale not in agreement with the accounting i'ecords and i'eturns- oi. we liave not i'eccived all thc infoi'matiol) clnd explancltions wc i'equii'c foi. our audit. Responsibilities of trustees As explained Inoi'e fully in the Statement of Trustees, Responsibilities. the trustees (who are also the direct013 of the cliaritable company foi. the pui'poses of cotnpany lawl al'e i'espoi)sible foi. the pi'eparation of the fingncial statements 2nd for beingF sati%fied that they LFive a true and fair view, and for such internal conti'ol 2% the ti"ustees detei'mine is necessary to enable the preparation of financial statements tliat are fl'ee fi'om matei'ial misstatement, wl)ether due to fraud or errol.. In preparing the financi21 statements, tl)e U'ustees are i'esponsible for assessing tlie chai'itsble company's ability to continue as a going concei'ii, disclosing, as applicable, illaltcrs i'clalcd to going conccm and using the going ¢oncei'n basis of accounting unless the trust¢es ¢ith¢i" intend to liquidate the charitable company or to ¢¢ase operalions. oi. have iio realistic alteriiative but to do so. Page 16
REI PORT OF THE INDII PEI NDENT AUDITORS TO THE TRUSTEI Ei S OF WALTHAIVA FORFST NOOR UL ISLAM Oyinion Wc Iiave audited the finaneial statements of Waltljam Forest Noor Ul Islain (tlie'chai'itable coinpaiiy'l for the yeai. ended 31 Deeeinbei. 2023 wliicl) coiiipi'ise tlie Stateiiieiit of Fii)aiicial Aclivilies, tl)e Stateiiient of Finaiicial Positioii, tlic Statcin¢nt of Cash Flows ai)d iiotes to the finan¢ial statemenis, incliiding a summai'y of 5igiiifieant accoiiiitiiig policies. Tl)e financial I'epoi'tii)g fianiewoi'k tliat lias beeii applied in tlieii. pi'epai'ation is applicable law and United Kingdom Accounting Standai'ds (United Lcingdoin Generally Accepted Accoui)ling Pi'actice), including Financial Reporting Standai'd 102 'The Fit)aneial Reporting Standai'd Rpplicable in the UK and Repiiblic of Iitland,. fn our opinion tlie financial staleinents= give a true and fail. vicw of thc statc of tlic cliaritsblc comi)any's affairs as at 31 De¢¢mb¢i' 2023 and of its iiicomiiig i'¢souroe5 aiid application of i'esoui'ces, includiiig tts iiicoine aiid expeiiditui'e, foi. the yeai. tlien have becn pi'opei'ly prcparcd iii accoi'daii¢¢ witli United ICEngdoin Genei'ally Aeeepted A¢¢ounting Pi'actice, iJicludiiiB Fiiiaiicial Reportiiig Staiidai.d 102 'The Fijiancial Repoitiiig Siandai'd applic&ible li) tlie UK and Republic of b'eland and have been prepai'ed iii accordancc with tlic I'cquii'emcnts of Ihc Companies Act 2006. Basls for oplnlon We conducted our audit in accoi'dic nce with International Standards on Auditing (UK) (ISAS {UK)) and applicablc law. Oui. Ir5poiisibilitics ui)der tliose statidards are furtlier desci'ibed iii the Auditors, responsibilities foi. tlie audit of tlie financial slatsiiients section of oui. I'epoi't. We al'e independeiit of tlie cliaritable company in accoi'dance witli tlic ctliical I'cqiiii'cincnts that arc r¢levant to oiir audit of tl)e fLnaneial statein¢Jits in thc UK, including the FRC'S Ethical Stai)d21'd, and we l)ave flilfilled oiir other ethical responsibilities in accoi'dance with tl)ese requiiEineIits. We believe tl)at the audit evideiice we have obtaiiied is sufficient and appropriate lo providc a basis foi. our opinion. Conelusioiis i'elatlng to going eoiicerii In auditing tlie financial statemcnts, wc liavc concluded tliat Ilic ti'uslees, use of the going coi)ceri) basis of xceountsng in the pi'epai"ation of tlie financial statements is appi'opi'iate. Based on the work we havc pei.foi"iiied, we have not identified any matei'ial uneei1ainties relating to events oi. coiiditions tl)at, individually oi. collectively, may cast significaiit doubt on tlie chai'itable coinpany's ability to coiitii)ue ds a going coiicei'n foi. a pei'iod of al least twelve tnoiitlis ti'oji) wlien tl)e fiiiancidl %t4lenieiils al'e authoi'ised foi. issue. Our Tesponsibilsties and the responsibilities of the trustees witli i'espect to going coiicern are desci'ibed in the I'elevant sections of this report. Otlier inforniatio The ti'ugtees are I'espoiiqible for the otl)er infoi'mation. The otliei. infoi'niation coinprises tlie infoiination incllidcd iii tlie Aniiual Report, other than t])e financial stateineiits and our Report of the Indcpeiident AuditotS thcrcon. Oui. opinion on the financial statcmciils docs not covcr tl)c olli¢i' iiiformation und, cxccpl to Ilic extent otlierwise explicitly stated in our repoi"t, we do not express any forin of assurance conclusion tl)ei'eon. In connection with oui. audit of tlie financial stalcincnts, our I'¢sponsibility is to read tl)e othei. infonnation and, in doing so, considei. wlietliei. tlie otl)ei' iiifoi'ination is matei'ially inconsisteiit witli tlie financial stateineiits oi. oui. knowledge obtained iii tlie audit or odieLivise appears to bc tllat¢i'ially Inisstalcd. If we identify sucli matei'ial inconsisteiicies oi. ppai'ent iiiatei'ial misstatements, we ale I'equii'ed to deteiinine wheiher tliis gives i-ise to a matei'ial n)isstateinenl in tlie fiiiancial stateinciits tliemsclvcs. If, based on the woi'k we Iiavc pei'foi'iiied, we coi)clude Ilidl ilicrc is a iitstcrial mis6tatcin¢nÉ of this othei" iiifoi'ination, wc are required to report that fact. We have notliing to re)It in tliis regard. Page 15
REPORT OF THE INDEPF.NDE< NT AUDITORS TO THE TRUSTEES OF WALTHAM FOREST NOOR UL ISLAM Our responsibilities for the audit of the financial stateni¢nts We have beej) appoii)ted as aiiditoi's uiidei. Section 144 of the Chai'ities Act 201 l and I'epoi'l in accoi'dance witl) the Act and rclevanl rcgulations Inade or having cffcct tlicrcuiider. Our objcctivcs ait to obtain i'easonable asgur2nce about whetlier the financial statemcnts as a whole are fl'ee froin material misstateiiient, wlicdiei. due to fi'aud oi. ei'i'or, and to issuc a Rcpoi't of Ili¢ Ind¢pcnd¢nt AuditoiE that includes oui. opinion. Reasonable assuiance is a higli leiT¢I of aqqurance, but is not a guai'antee that an audit coiiducted in accordance with ISAS IUIC) will always detect a matei'ial Inisstatemcnt whcn it exists. Misstateinents can arise fi'om fraud oi. ei'roi. and are considered tnalcrial if, iiidividually or in tlie aggi'egate, they could i'easonably be expected to it)fluenee the economic decisions of useiE taken on the basis of these finaiicial stat¢inenls. The extent to which our pro¢eduir8 .¢ capable of dele¢lii)g iri'egularities, including fraud is detailed below.. Our appi'oach to identifying and assessing the risks of material inisstatemcnt in rcspcct of iri'¢guIai'iti, including fraud and non-coniplianee with laws and regulations, was as follows.. Ilie engagement partner ensui'ed tl)at the engagement team collectively had tlie appropriatc compclcncc, capabilitie.q and slcills to identify or I'eeognise non-compliance witli applicable laws and regulatiiTrns' we idcntificd tlic laws and regulations applic8bl¢ to the ¢h8l'lty Ihrougli discussions with trustees and other Inanagcjncnt, and fi'om our commei'cial kiiowledge and expei'ience of tlie cliarity sector,. we focused on specific laws and rcgiilations which we considei'ed may have a direet material effect on the financial staleiiicnts or Ihc opcratioi)s of the el)arity, including t])e Comp811ies Act 2006, Cliarity's legislation, taxation l¢gislation and data protection, anti-bi'ibery, employment and liealtli and safety legislation,. we assessed the extent of compliance with t]ie laws and regulations identified abov¢ through making enquii'ies of managcincnt and inspecting legal coiyespondence,. and identified laws and i'egulations were coiiimunicated within the audit team I'egularly and tl)e teain remained aleit to instanccs of non-complian¢e thi'oughout the audit. We assessed the susceptibility of tbe cliarity's finallcial statements to Inatei'ial misstatement, including obtaining an undei'standing of liow fi'aud might f)eeur, by.. making enquii'ies of manageinent as to whcrc they ¢onsider¢d Il)ere was susceptibility to fraud, their kiiowledge of a¢tual,-quspected ai)d alleged fi'aud. and considering tlie internal conts'ols in place to mitigate risks of fraud and non-compliance with laws and i'egulations. To address Ilie i'isk of fraud tlii'ougli Inanagement bias and oveii'ide of ¢onti'ols, we.. pci'foi'med analytical pi'ocedui'es to idei)tify any unusual oi. unexpected relationsliips. tested journal enti'ies to identify unusual ti'ansaclions. assessed whether judgements and assumptions Tnade in detemiining the accounting estimates set out in note I were indicalivc of potcntial bias. and investigated the i'ationale bel)ind significant or unusual traiisactions. In iesponse to tlie risk of ii'rcgularities and non-compliance with laws and I'egulations, wc designcd procedures which included, but were not limitcd to: agrecsng finiiicial statement disclosui'es to undei'lying suppoi'ting documentation- readiiig the minutes of meetings of those charged will) govei'n2ncc; enquii'ing of managcmcnt as lo a¢tual and potential liiigation and claims. and rcvicwing Correspondence witli IIMRC, relevai)t rcgulatoi's including the Health and Safcty Executivc, and the charity's legal advisois. Page 17
REI PORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WAL'I'HAM b"ORES'I' NOOR UL ISLAM Tliere al'e inhei'eiit limilations iii oui. audi( proeedui'e$ desci'ibed above. Tlie more i'¢moved iliat laws and I'egLilations aiE froin financial ti'ansactions, tl)e less lilcely it is tliat we would becoine awai'e of non-compliance. Auditing stai)dai.d5 8150 limit tlie audit proc¢dur¢s i'¢quii'ed to idejitify non-coini)liance witli laws and I'egulations to ei)quii'y of the ti'ustees and other Inaiiageinent and the ii)spection of i'egulatoi'y and legal coriespondeiice, if any. Material misslateiiients that arise due to fraud can be liard¢i' to dctc¢t tlian thos¢ that ai'isc fi'oin ci'ror as thcy Inay involve delibei'ate concealinent oi. collusion. A fui'thei. description of our responsibilities for the audit of the financial statements is located ort the Fiiiancial Repoi'tii)g Couiicil's web51te at www.frc.oi.g.uklaudit0151.¢sponsibilities. This desci'iption foi'ms pai't of OLlI' Report of tl)e Independent AuditOL3. Use of our report Tl)is i'epoi't is J))ade Solely lo the ¢harilable ¢oinpany's trustees, as a body, ill accordance with Pai'14 of tlie Cliai'ities (Accounts and Reports} Regulations 2008. Our aLidit woi'k has been Lindeitaken so that we migl)t statc to tli¢ chai'itablc coiiipany's liiislces thos¢ Inattcjs we al'e requiiEd to state lo Ilieiii in ai) auditois, I'epoi't and foi. no otlier piii'pose. To the fullest extent pemiitted by law, we do not dLLept i)r assume responsibility to anyone otl)er than tlie charitable coiiipany and tlie chai'itable Company's tISteeS as a body, foi. oiir aiidit woi'k, for this i'epoi't, oi. foi. tlie opinions we have foi'nied. for and on bel)alf of Pi'esions & Jaeksons Partnerghip LLP Statutoiy Auditoi's Eligible to act as ai) duditoi. in terms of Section 1212 of tlie Coinpaiii¢s Act 2006 364- 368 Ci'anbrook Road Jlfoi.d Essex IG2 6HY Datc.. ... Page 18
WALTHAM FOREST NOOR UL ISLAM ST ATLMbN'f OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Resti'icted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and l¢ga¢ies 696,418 521,752 1,218,170 1.261,224 Charitable activltles Scbool fees i'cccivable Pre School Math'assa fees 763,540 1,890 106,829 763,540 32J33 106,829 701.313 30,443 101,634 Othci. chai'itable activities Investmeiit income 140,104 18 5,203 145J07 18 141,024 Total 1,708,799 557,398 2,266,197 2,205,195 EXPENDITURE ON Raising funds 109,687 177,236 286,923 288,411 Charitable activities Project i'ebuild costs Pre School Charity running costs Primary School Madrassa costs 51,719 209,873 3,516 51,719 210,406 558,919 692,200 3,904 12,762 195,584 575.351 571,956 5,781 533 555,403 692,200 3,904 Total 1,361,727 442,344 1,804,071 1,649,845 NET INCOME 347,072 (152,223) 115,054 152,223 462,126 555,350 Transfers betiveen fllnds 19 Net movement In fuiids 194,849 267,277 462,126 555,350 RECONCILIATION OF FUNDS Total funds broiight foiward 652,894 0,084,472 6,737,366 6.182.016 TOTAL FUNDS CARRIEI D FORWARD 847,743 6,351,749 7,199,492 6,737,366 The i)otcs form pait of these financial slalements Page 19
WALTHAM FOREI ST NOOR UL ISLAM STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Notes FIXED ASSEITS Tangible 08s¢ts 14 1,817,394 9,597,143 11,414,537 11.027,170 CURRENT ASSETS Stocks Debtois Casli at bank and in l)and 15 16 625 108,388 887.017 368,217 464,078 7,892 302,875 376,109 766,953 832,295 310,767 1,143,062 996,030 CREDITORS Aniounts falling due within oiie yeai. 17 (1,801,946) (3,556,161) (5,358,107) (5.285,834) NET CURREI NT ASSETS (969,651) (3,245,394) (4,215,045) (4,289,804) TOTAL ASSETS LESS CURRENT LIABILITILIS 847,743 6,351,749 7,199,492 6,737,366 NET ASSETS 847,743 6,351,749 7,199,492 6.737,366 FUNDS u.esti.I¢ted funds Restricted funds 847,743 6,351,749 652,894 6.084,472 TOTAL FUNDS 7,199,492 6.737,366 Tl)e Lhai'itable Loinp&ny is entitled to exeiiiption from audit undei. Section 477 of the Companies Act 2006 foi. the yeai. ended 31 Deceiiiber 2023. Tlie nienibers liave not deposited notice, PLirsuaiit to Seetion 476 of the Conipanies Act 2006 requiring an audit of tlicsc financial statements. Tt]c triistccs acknowledge theii. i'esponsibilities for (a) ensui.ing that tlie chai'ilable MpanY keeps accounting recoi'ds that comply witli Section.q 386 and 387 of the Coiiipanies Act 2006 and prcpai'iiig fitiancial stateineiits wliicli give a ti'ue and fair view of tlie stale of affaii's of the chai'itablc company a.q at the end of each financial yeai. and of its sui'plus oi. dcficit for each finclncial yeai. in accoi'dancc with thc rcqiiirements of Sections 394 and 395 and wliicli otherwise eoinply with thc requii'einents of tlie Coinpanies Act 2006 relating to financial statements, so fai. as applicable to tlie ch'table coinpany. {b) Tlie notes fonm part of these finaiicial slaleinents Page 20 continued...
WALTHAM FOREST NOOR UL ISLAM STA TEMENT OF FINANCIAL POSITION - continued 31 DECEMBER 2023 These fiiiancial stalcmcnts l)ave been audited iindei. tlie I'cquii'ements of Section 145 of the Charities Act 2011. Thc fiiiancial stateinents wei'e approved by th¢ Board of Tnjstees and authorised for issue on i o _.K¥...... and were signed on its behalf by.. l.s.Hons Trnstee T•9 The iiotes foini pait of these financial stateinents Page21
WALTHAM FOREST NOOR UL ISLAM STATLMEN'r orl CASH FLOWS riOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 Notes cz.sh flows fi'om operatiiig 4c¢ivities Cash gcnei'ated fi'oiii opci'atioiis 308,744 646,627 Nct ¢ash pj'ovidcd by opei'ating aclivitics 308,744 646,627 Casli flows fi'om iiivestiiig aetlvlties Pui'chase of tangible fixed assets Sale of tangible fixed assets Intei'est received (428,825) (i) 18 (521,719) Nel cash 118ed iii investing activities {428,808) {521,719) Change in casl) and cash equivalents in the reporti17g pei'iod Casli and £asli equivalents at the beginning of the reporting yeriod (120,064) 124,908 887,017 762,109 Casli and cash equivalents at tlie end of the reporting pei'iod 766,953 887,017 The notes foiin pail of tliese financial slateinenls Page 22
WALTHAM FOREI ST NOOR UL ISLAM NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATION OF NEI T INCOME TO NET CASH FLOW FROM OPEI RATING ACTIVII'IES 31.12.23 31.12.22 Net income for the repoi-ting perlod (as pei. the Statement of riiiaihcial Activities) AdJustmonts for: Depi'eciation cliarges Loss on disposal of fixed assets Intcrcst i'eceived Deciease iji stocks Increasc in d¢btors Increase in creditors 462,126 555,350 23,873 17,586 {18} 625 (267,721) 72,273 26,795 {54,399) 118,881 Net cash pi'ovided by operation5 308,744 646,627 ANALYSIS OF CHANGES IN NET FUNDS At 111123 Cash flow At 31112123 Net casli Cash at bank and in hand 887,017 (120,064) 766,953 887,017 (120,064) 766,953 Total 887,017 (120,064) 766,953 The notes foiTh part of these financial slateillents Page 23
WALTHAM FO4 ST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EI NDED 31 DECEMBER 2023 ACCOUNTif4G POLICIEIS Basis of preparing tlie financial statements Tlie finai)¢ial statemcnts of the cliai'itable company, wl)ich is a public benefit entity under FRS 102, liave been pi'epared in accoi'daiicc with thc Chai'itics SORP (FRS 102) 'Accounting and Reporting by Chai'ities.. Stc1teinent of Reconiinended Pi?ctice applicable lo el)aritie4 prei)aring tl)eir accoiiiits in accoi'dance witli the Fiiiaiicial Rcportii)g Staiid8rd applicablc in the UK aiid Republic of li'eland {FRS 102) (cffcctive l Jaiiuai'y 2019),, Financial Repoi'liiigi Standai'd 102 'Tlie FindnLial Reporting Staiidai'd applieable in the UK and Republie of li'cland, and the Companies Act 2006. The financial .qlateinent8 have been prepaied under the historical cost eonvention. In¢on)e All incoine is recogniged in tlie Slatenient of Financial Activities once the chc11.ity lias entitleineiit to the fuiids, it is probable tliat tlie iiicome will be I'eceived and the #inount caji be mcasiired i'eliably. Voliinlai'y income is I'eceived by way of donations and gifts and is includcd in tlie Stateinent of Fijiaticial Aclivitics wl)eii tiSt is eiititled to tlie receipt aiid the amount can be Incasured with reasonable cei'tainty. Grai)ts, fi'om local council, al'c I'ccognised in full in the Statemeiit of Financial Activities in the year li) which tliey al'e received. The value of sei'viees pi'ovidcd by voliinteers is difficult to put a monetary value on and thei'efore has not bccii includcd in accoi'daiice witli the Cl)ai'ities SORP IFRS102). Fcc Income is I'ecognised on a receivable basis. Donations al'e i'ecognised when they are i'eeeived. I xpeihdltui'e Liabilities al'e i'ecognised as exi)endituic as sooii as tlicie is a Icgal oi. constructive obligation coinmitting tlie chai'ity to that expeiiditLire, it is pi'obable tliat a trai)stei' of econoinic beiiefits will be i'equii'ed in settlemeiiL aJ)d the amount ot. th¢ obligation cali be Ineasui'ed reliably. Expenditure is accoiinled foi. on an acci'uals basis and lias been classified undei. hejdings that aggregate all eost i'elated to the eategory. Wheie co.8t8 cannot bc dii'cctly atti'ibutcd to pai'ticulai- l)eadings they have been allocatcd to activities on a basis consistent witl) the use of i'esoui'ces. Governanee eosts The chai'ity I'ecogiiises govei'i)iiient w'aiits i'elatii)g to tjic Coi'onavii'iis Busiiiess Jntei'iwplion Scheine on aecruals basis. Tlie gTants al'e i'ecognised iii die statement of financi81 aetivities over ihe pcriod in whicli tlie charity recogiiisc.% thc rclatcd costs foi. wliicli the gi'ant is intended to compensate. Govci'nincnt assistance l)as also been extended by way i)f the provisioii of guai'antees. Alloeatlon and Apportl(hnment of cfjsts The Incthods ai)d pi'iiiciples lor the allocatioii and appoi'tioiiinent of all costs bctwceii the diffei'eiit activity cakgoi'ics of I'esources set out above are based on tlie test of whethei. a cost diiccily conti'ibutes to the particular related sour¢¢ of in¢omc. Such idcntifiable costs al'e appoi'tioned to tlie specific activity, wheiEas all otliei. costs are allocated to suppoi't eosts of cliai'itablc activitics. Resources expended include atttibutable VAT. a propoi'tion of which on the project i'ebuild is reeoverable. Page 24 continued...
WALTHAM FORE< ST NOOR UL ISLAM NOTES TO 'I'HE FINANCIAL STATEMENTS- colltinued FOR THE YII AR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- eonlinued Tangible fixed xssets Tangible lix¢d assets are stated at historical cost les£ accumulated d¢preeiation and any accumulated impairin¢nl losses. Histoi'ical cost includes expenditLire tliat is directly attt'ibulable to bringing the asset to the location and ¢ondition necessary foi. it to be capable of operating in the manner intended by inanagcin¢iit. Depi'eciation is provided at the following annual rates in order to write off each asset ovei. its estimated u5cful life. Fi'eehold pi'opcity- 20/0 on cost Poi'table building- l O /0 on i'educing balance Plant and ma¢hiiiery - 250/D 01) Cost The taxatlon The ch21.ity is exeinpt froin corpoi'ation tax on its charit2ble activities. Fund accounting Uni'esti'icted funds can be used in ac¢oi'dllnce with the chai'itable objectives at the disci'etion of the trustees. Restrictcd funds can only be used for parlicular resti'icted purposes within the objects of tlie charity. Rcsts'i¢tions arise wlien spccified by the donor or when funds are raised for paff icular i'esti'icted purposes. FuJ'il)er explanation of the nature and purpose of each fund is included in the notes to the financial statements. Leasing commitments Rentals paid ui)der opei'ating leascs ar¢ chai'ged to the Siatcinent of Financial Activilics on 2 straiglit line basis over tlie pei'iod of the lease. Pension costs and other po$t-retirement beiiefits 'rhe chai'itablc company operates a defined contribution pension scheme. Conti'ibutioris payable to Ihc cliaritable coinpany's pension s¢lieine al'e charg¢d to the Statement of Financial Activities in the period to which tliey relate. Goiiig concern Interest free loans were obtained fi'om various sources. Also, the cui'rent assets are exceeded by thc current liabilities as at Ihc year end.The Tiustee.% al'e confident thal it suffjcient I'esoui'ces and support fi'om th¢ ¢ommunity to continue as a going conccrn. It is for these rcasons the accounts have been prepared on a going concem basis. Page 25 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINALYCIAL STATEMENTS - continued VOR THF. YEAR ENDED 31 DECEMBER 2023 DONATIONS AND LEGACJES 31.12.23 31.12.22 Donations Giftaid Grant from Local council Akat Fitia Fidya and Quibaiii Disastei. Appeals Pioject rebuild Interest donations Incoine fi'om Sadaqa 393,063 123,627 374,920 40,693 33,338 224,282 927 27,320 436.157 31,877 317,140 91,030 12,426 338,677 350 33,567 1,218,170 1,261,224 Grants received, included in tlie above, are as follows.. 31.12.23 31.12.22 School 374,920 317,140 OTHER CHARITABLE ACTIVITIES 31.12.23 31.12.22 Sunimei. Fete Bazaai. money and fundi'aising Charity dinnei. Ai'abic Englisli and Aliinah Courses Nik£lah & Wedding Scliool Trips Sales of items Oil)er hicoiiie 19,135 33,178 3,427 39,210 760 28,241 13,n.35 8,321 27,512 33,455 32,100 3,013 20,357 5,688 18,899 145,307 141,024 Page 26 continiied...
WALTHAM FOREI ST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENI'S - continued FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME 31.12.23 31.12.22 Interest receivable 18 INCOME FROM CHARITABLE ACTIVITIES 31.12.23 31.12.22 A¢tivity Registration and school fccs R¢gists'a¢ion and school fees Madrassa fees School fees reeeivable 763,540 701,313 Pre Scliool Madrassa fees 32J33 106,829 101,634 902,702 802,947 RAISING FUNDS Raising donatlon$ and legacies 31.12.23 31.12.22 Zakat Fitra Fidya and Qurbani Disastei. Appeals Sadaqa expended Interest expended 118,745 51,826 52 146,419 11.825 1,550 2,200 170,623 161,994 Otlier trading activitie5 31.12.23 31.12.22 Purchases Support costs of schooling School trips and spoi'tsfield Suinmer fete Cliarity dinnei. and Eid party Events Cost Fundraising costs Books magaziiics aiid calcndei's lftai. expenses Mayyat (burial) expenscs 883 28,865 35,306 4,089 34,750 5,B88 5844 10,903 30,065 24.423 14,587 21,074 11,124 7,383 5.794 ,045 19 675 116,300 126,417 Aggi'egate amouilts 286,923 288,411 Page 27 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENTS - coiitillued FOR THE YEAR LI NDED 31 DECEMBER 2023 CHARITABLE ACTIVITIES COSTS Support costs (see note 8) Dii'ect Costs Totals Pi'oject rebuild costs Pi'e Scliool Cliai'ity i'uiming costs Pi'iinaiy scliool Math'assa costs 51,719 210,386 555,119 692,200 3,904 51,719 210,406 558,919 692,200 3,904 20 3,80 3,820 1,513,328 1,517,148 SUPPORT COSTS GoveiTrance costs Management Finance Other Totals Pi'oject rebuild costs Pre School Cliai'ity i'uiuling costs Priiiiary school Madi'assa costs 35,091 209,376 68,078 652,852 548 426 36 2,107 36 165 16,2112 974 25,471 39,312 691 51,719 210,386 555,119 692,200 3,904 459,463 2,500 96S,945 2,770 82,650 461,963 1,513,328 NET INCOMEI(EXPENDITURE) Net incoinel{expciiditure) is stated after chai'gingl{crediting).' 31.12.23 31.12.22 Depi'eciation - owned llssels Hire of plant and macl)inei'y Deficit on disposal of fixed assets 23,873 3,1190 17,586 26,795 5,248 Page 28 continued...
WALTHAM FOREI ST NOOR UL ISLAM IYOTES TO THE FINANCIAL STATEMEIYTS - continued FOR'I'HE YEAR ENDED 31 DECEMBER 2023 10. AUDITORS, REMUNEI RATION 31.12.23 31.12.22 Fees payable to the charity's auditoi's and their asso¢iates for the audit of the ¢l)ai'ity's finaiicial statements 6,600 5,000 I I. TRUSTEESI REMUTrIERATION AND BEI NEfilTS There werc no Iruqtees, remuneration oi. other benefits for the year ended 31 Decembei. 2023 noi. for Ihc ycar elided 31 Deceinbcr 2022. Trustees expenses There were no ts'ustees, expenses paid for the year ended 31 December 2023 noi. for the year ended 31 December 2022. 12. STAFF COSTS 31.12.23 31.12.22 Wages and salaries Social se¢urity costs Other pension ¢osls 1,140,646 54,735 8,045 1,031,817 60,947 8,480 1,203,426 1,101,244 The average monthly number of employees during the yeai. was as follows.. 31.12.23 32 40 25 31.12.22 37 33 15 Administi'ation & caretakeis Teacl)ing Jinam and madrassa teachers 97 85 No employees i'eceived emoluments in excess of £60,000. The coinpany considers its key managemcnt personnel to be ti'ustees. The ti'ustees did not receive any benefits dui'ing the cui'i'ent or pi'evious y¢ai'. Page 29 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENTS - continued riOR THE YEAR NDED 31 DECEMBER 2023 13. COMPARATIVLS FOR THE s'fATEMENT OF FINANCIAL AcfiviTIES Unresli-icted Restt'icted fuLids funds Total fiiiids INCOME AND ENDOWMENTS FROM Donations and leLFpaeies 562,800 698,424 1,261,224 Charitable activities School Eees receivable Madrassa fees 689.116 101,634 12,197 701,313 101,634 Other chai'itable activittes 137.954 3,070 141,024 Total 1.491,504 713,691 2,205,195 EXPENDITURE ON Raising fuiids 119,722 168,689 288,411 Charitable aetivlties Pioject I'cbuild costs Pir School Cl)arity running costs Priiiiary scliool Madi'assa costs 12,762 195,584 30 12,762 195,584 575,351 571,956 5,781 575,321 571,956 5,781 Total 1,272,780 377,065 1.649,845 TrIET INCOME Transfers between funds 218.724 (27,802) 336,626 27,802 555,350 Net movement In funds 190,922 364,428 555,350 RECONCILEATION or ruNDS ToiAI funds bTOU&,Iil Ivi'wai'd 461,972 5,720,044 6,182,016 TOTAL FUNDS CARRIED FORWARD 652,894 6,084,472 6,737,366 Page 30 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMEINTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 14. 7'ANGIBLE FIXED ASSETS Freehold propei'ly Portable building Plant and machiiiery Totals COST At l January 2023 Additioiis Disposals 11,091,633 420,681 123,241 250,857 11,465,731 8,144 428,825 (168,367) (168,367) Al 31 December 2023 11,512J14 123,241 90,634 11,726,189 DEPREI CIATION Ai i January 2023 Cliargc foi. y¢ai' Elitllinated on disposal 163,369 8J86 78,174 4,507 197,018 10,980 {150,782) 438,561 23,873 {150,782) At 31 tkceinber 2023 171,7SS 82,681 57,216 311,652 NET BOOK VALUE At 31 tkceinbei. 2023 11,340,559 40,560 33,418 11,414,5J7 At 31 Deccmbcr 2022 10,928,264 45,067 53,839 11.027,170 Included in freeliold propcrty is freehold land of £4,644,108 (2022.. £4,644.108) which is not d¢preciat¢d. Included in freehold pioperty 15 a building under constructioi) at £6,868,206 (2022.. £6,447,524)- 15. STOCKS 31.12.23 31.12.22 Stoclis 625 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Ti'ade debtors Other debtors Prepayments 340,246 17,687 18,176 104,026 4,362 376,109 108,388 Page31 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENTS - coiitinued FOR THE YEAR ENDED 31 DECEMBER 2023 17. CREDITORS: AMOUNTS FALLING DUEI WITHIN ONE YEAR 31.12.23 31.12.22 Social security and other taxes Ot])ei' creditoi's Kai'se Hasana Loans Acciucd expeiises Def¢iTcd Incomc 15,928 2,310 4,800,397 102,652 436,820 12,748 3,677 4,829,347 49,147 390.915 5,358,107 5,285.834 Kai'se Hasana loans are intei'est free loans provided by the community. 18. LEASING AGREEM£I NTS Minimum lease paytnents under non-cancellable operating leases fall due as follows.. 31.12.23 31.12.22 Within one yeai. Belwe¢rt one and five yea 3,367 3,739 3,367 3,367 7,106 19. MOVEMEI NT IN FUNDS Nct nioveinenl in funds Ti'ansfcrs between funds At 31112123 At 111123 Unrestrlcted fllnds General fund Regists'ation and Scliool Fees Sale of Scliool Uniforn) Conts'ibutions towai'ds scliool ti'ips Madi'assa Fee 283,571 317,158 419 128 51,618 92,188 153,541 34,288 (52,820) 69 9,227 (142,987) 41Q,047 417,879 488 4,194 15,13S (5,161) 106,504 652,894 347,072 (152,223) 847,743 Restrieted funds Zakat, Fitt'a, Fidya and Qui'bani Intei'est Grants from tA)cal boi'ough - Education Disastei. appeal Umrali and Hajj facilities Pi'oject i'ebuild (63,371) 3,449 251,793 1,483 12,051 5,879,067 {80,718) 427 41,270 (18,488) 144,526 (777) (38,867) 17,887 437 3,099 254,196 ¥82 12,051 6,081,084 172,563 29,454 6,084,472 115,054 152,223 6,351,749 TOTAL FUNDS 6,737,366 462,126 7,199,492 Page 32 continued...
WALTHAM FOREST NOOR UL ISLAM IYOTES TO 'fHE FINANCIAL STATEMEN'fs - continued FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMIINT IN fiUNDS- continued Net movement in funds, included in the above are as follows.. Incoming Resoui'ces Movement I'esources expended in funds Unrestricted fuiid5 Genei'al ftind Registi'ation and School Fees Contributions towards school trips Madrass2 Fee 682,528 886,083 28,241 111,947 (590,340) (732,542) (33,402) {5,443) 92,188 153,541 (5,161) 106,504 1,708,799 (1,361,727) 347,072 Restricted funds Zakat, Fitra, Fidya and Qurbani Interest Grants fi'om Local boi'ough - Education Diqaster appeal Proje¢t I'ebuild 40,693 927 258,158 33,338 224,282 (111,411) (500) {216,888) (51,826) (51,719) (80,718) 427 41,270 (18,488) 172,563 557,398 {442,344) 115,054 TOTAL FUNDS 2,266,197 (1,804,071) 462,126 Page 33 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINMCIAL STATEMENTS- contiilued FOR THE YEAR NDED 31 DECEMBER 2023 19. MOVEMENT IN FUNDS - Continued Comparatives for movement in funds Net nioveinenl in funds Ti'ansfeiE between funds At 31112122 At 111122 Unresti'ieted funds Gencral fund ReLFis(ratlOll 21)d Sehool Fees Sale of School Unifoi'm Contributions towai'd5 school trips Madi'assa Fee 204,748 201,347 488 4,194 51,195 {65,848) 168,184 (69) {4,066) 120,523 144,671 (52,373) 283,571 317.158 419 128 51,618 {120.100) 461,972 218,724 127,802) 652,894 Restrieted funds Zakat, Fiti'a, Fidya and Qiirbani Inlcrc5t Grants from Local borough - Education Disastei. appeal Umrali and Haji facilitics Pmjecl rebuild 13,426 3,099 205,153 882 12,051 5,485,433 (59,169) 350 71,642 601 (17,628) {63.371) 3,449 251,793 1,483 12,051 5,879,067 (25,002) 323,202 70,432 5,720,044 336,626 27,802 6,084,472 TOTAL fuNDS 6.182,016 555,350 6,737,366 Page 34 continued...
WALTHAM FOREI ST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENTS - continued FOR I'HE YEI AR ENDED 31 DECEMBER 2023 19. MOVEI MENT IN FUNDS- continued Comparative net movement in funds, in¢luded in th¢ above are as follows: Incoming Resoui'ces Movement i'esources expended in funds Unrestricted funds Gener&1 fund Registration and School Fees Sale of School Uiiiform Contributions towards school trips Madrassa Fee 578,971 798,131 (644,819) {629,947) (69) (24,423) 26,478 (65,848) 168,184 169) (4,066) 120,523 20,357 94,045 1,491,504 {1,272,780) 218,724 Restricted funds Zakat, Fits'a, Fidya aiid Qurbani Intei'est Graiits from Local boi'ough - Education Disastci. appeal Project rebuild 91,030 350 271,208 12,426 338,677 (150,199) (59,169) 350 71,642 601 323.202 (199,566) {11,825) (15,475) 713,691 (377,065) 336,626 TOTAL FUNDS 2,205,195 (1,649,845) 555,350 TRANSFER OF FUNDS Transfei'b fi'otll i"estricted to unrestri¢ied funds were foi. contributions to ovei'heads Movement in funds Unrestricted Fiinds l. Gcncral thnd represent the Amounts that tivstees are free to use in accordance with trnst's ehai'itable objectives. 2. Registration and scl)ool fees represent tuition fees receivable froin pi'imary school students and is expended on day to day school running costs. Resti'i¢ted Funds 3. Zakaat, Fits'a, Sadaqa and Qurbani repi'esents the restrieted donations received foi. and expended on specific nced$ of tlie general public. 4. Restricted funds include grants re¢eived from local council, LBW, and are utilized in development of educatioJ)al pi'ogramme foi. pi'e-scliool students. 5. Disastei. appe81 funds al'e ¢ollecled through specific appeals to support people affected by natural disastei"s ai'oLind the woi'ld. Page 35 continued...
WALTHAM FOREST NOOR UL ISLAM NOTES TO THE FINANCIAL STATEMENTS - continued riOR THE YEAR ENDED 31 DECEMBER 2023 19. fvtOVEI MEI IYT IN FUNDS- continued 6. Project iebuild iepi'esents the donations I'eceived which conti'ibute towai'ds the i'ebuilding of the old prcmis¢s owi)¢d by ti)e ti'ust. 20. OTHER FINANCIAL COMMITMENTS l} The trust lias financial coinmitmei)ts lo build new pi'emises to meet the needs of tlie usel%. As a i'esult of the cui'rciit cconoinic cliii)atc, both matci'ial costs and labour costs have incTeased and al'e expected to inci'ease in tlie foreseeable futt]i'e. As a Imattei. of prudence, the Trustees have maintained an estiniated spending of api)I'oximately £3111 (2022.. £3111) to comi)lete tlie pi'ojeet. 21. REI LATED PARTY DISCLOSURES l. Tl)e tiust einploys five people who al'e I'elated to ti'ustees as follows- Name of Related Party Relationship Roles Amount (£) Ms S Musb8lly Mi. A Hansa Sister Son Tcaclier Office Managei'l Teaclierl Satui'day Reception Pi'e-school Managei. Fiiiancc Manag¢i' Te£lcher 19,926 50,505 Mis H Hansa Mi. A Musb211y MIE Z Hansa Daugl)tcr in Law Brotlier in Law DaUter in Law 30,990 35,875 7,210 Page 36