**CHARITY REGISTRATION NUMBER: 1172217** ## **Imam Ali Foundation** ## **Financial Statements** ## **30 June 2021** ## **FAIRMAN DAVIS** Chartered accountants & statutory auditor 3 Exhibition House Addison Bridge Place London W14 8XP ## **Imam Ali Foundation** ## **Financial Statements** ## **Year ended 30 June 2021** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent auditor's report to the members|**4**| |Statement of financial activities|**8**| |Statement of financial position|**9**| |Statement of cash flows|**10**| |Notes to the financial statements|**11**| ## **Imam Ali Foundation** ## **Trustees' Annual Report** ## **Year ended 30 June 2021** The trustees present their report and the financial statements of the charity for the year ended 30 June 2021. ## **Reference and administrative details** **Registered charity name** Imam Ali Foundation **Charity registration number** 1172217 **Principal office The trustees** Mr M Alkhabaz Dr S Bakir Syed M Rizvi Mr A Jabbar Mr A Amin Mr A Riyadh Mr M Amer Dr H Mamdani **Auditor** Fairman Davis Chartered accountants & statutory auditor 3 Exhibition House Addison Bridge Place London W14 8XP **Bankers** Barclays 54 Lombart Street London EC3P 3AH ## **Structure, governance and management** ## **Governing document** The organisation is registered as a charity on 23 March 2017 and governed by its constitution. ## **Organisational Structure** Imam Ali Foundation has a Management Committee of 6 trustees who meet quarterly and are responsible for the strategic direction and policy of the charity. ## **Risk Management** The Management Committee has conducted a review of the major risks to which the charity is exposed to and continues to monitor this on an ongoing basis. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. **1** ## **Imam Ali Foundation** ## **Trustees' Annual Report** _**(continued)**_ ## **Year ended 30 June 2021** ## **Objectives and activities** The objects of the Charity are for the public benefit: A) the advancement of education and religion with particular emphasis on religious studies and Islam, in accordance with the creeds of Ithna Ashari Shia Muslim faith. B) the relief of poverty, sickness and distress, in particular amongst people who practice the Islamic faith in accordance with the creeds of Ithna Ashari Shia Muslim faith; C) the provision of facilities, for the public and in particular for those members of the public who practice the Islamic faith in accordance with the creeds of Ithna Ashari Shia Muslim faith ("the beneficiaries") in the interests of social welfare and with the object of improving conditions of life of the beneficiaries. ## **Achievements and performance** The charity fulfilled its objectives of relieving poverty, promoting education and providing facilities for the Muslims to practice the Islamic faith across the UK, with centres operating in London, Birmingham, Cardiff and Hull. ## **Financial review** The trustees were satisfied with the financial position of the charity, with sufficient reserves held by the charity to continue its work towards its objectives in the future. ## **Trustees' responsibilities statement** The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each 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 trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. **2** Imam Ali Foundation Trustees. Annual Report Year ended 30 June 2021 The tru81ee8 are rnspornible for kew'ng adequ9te accwnts'ng r¢cth$ that vn su￿ent lo show and Xpl￿n the chafity'5 tra[￿tri￿ and disd05e wilh raasor￿lo acwaw at any time the financ￿1 posib.on of the charity and en8ble thèm lo 8nsur8 tt￿t the finar￿￿1 Stat￿8nts comply with thè Charitie8 Act 2011. th8 appl¢cable Chants'85 (Aeeounts and Rep￿ts) Regulatsons. and th8 provIs￿n8 of tha Trust Deed. Thay afe also rg$poTh4ib￿ for saleouwdiro Ihe assets of ts tharity aTrJ h8nc8 f¢x tak6ng rgasonabla 8tep8 lor the preventi￿ and d81action of fraL*J and ot￿r Irregulanlies. The truslees. annu* rfjK￿ wa8 approN*d on 7 Mwch 2022 WKI siw on behaff ofthe board oftru8tee8 Sy•J M Rtt¥i ## **Imam Ali Foundation** ## **Independent Auditor's Report to the Members of Imam Ali Foundation** ## **Year ended 30 June 2021** ## **Opinion** We have audited the financial statements of Imam Ali Foundation (the 'charity') for the year ended 30 June 2021 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 30 June 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. **4** ## **Imam Ali Foundation** ## **Independent Auditor's Report to the Members of Imam Ali Foundation** _**(continued)**_ ## **Year ended 30 June 2021** ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: - the information given in the trustees' report is inconsistent in any material respect with the financial statements; or - adequate accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. **5** ## **Imam Ali Foundation** ## **Independent Auditor's Report to the Members of Imam Ali Foundation** _**(continued)**_ ## **Year ended 30 June 2021** ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. `·` Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. **6** Imam Ali Foundation Independent Auditor's Report to the Members of Imam Ali Foundation fcontinuodj Year ended 30 June 2021 We communicate with those charged with governance regarding, among other matters. the planned s¢ope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely lo the charity's members, as a body, in accordance with sects'on 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might slate to the charity's members those matters we are required lo stale lo them in an audilorfs report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone olhef than the charity and the charity's members as a body, for our audit work, lor thi5 report. or lor the opinioni we have formed. MrA Virji (Senior Slatulory Auditor) For and on behalf of Fairman Davis Chartered accountants & statutory auditor 3 Exhibition House Addison 8ridge Place London W14 8XP 7 March 2022 ## **Imam Ali Foundation** ## **Statement of Financial Activities** ## **Year ended 30 June 2021** ||||**2021**||2020| |---|---|---|---|---|---| |||Unrestricted|Restricted||| |||funds|funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|**£**|£| |**Income and endowments**|||||| |Donations and legacies|**4**|17,984|531,408|549,392|704,133| |Investment income|**5**|20,954|–|20,954|231| |||----------------------------|--------------------------------|--------------------------------|--------------------------------| |**Total income**||38,938|531,408|570,346|704,364| |||============================|================================|================================|================================| |**Expenditure**|||||| |Expenditure on charitable activities|**6,7**|130,159|356,463|486,623|443,954| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Total expenditure**||130,159|356,463|486,623|443,954| |||================================|================================|================================|================================| |Net gains on investments|**9**|(298,500)|–|(298,500)|–| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Net income and net movement in**|**funds**|207,279|174,945|382,223|260,410| |||================================|================================|================================|================================| |**Reconciliation of funds**|||||| |Total funds brought forward||3,237,091|818,455|4,055,546|3,795,136| |||-----------------------------------------|--------------------------------|-----------------------------------------|-----------------------------------------| |**Total funds carried forward**||3,444,370|993,400|4,437,770|4,055,546| |||=========================================|================================|=========================================|=========================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 11 to 18 form part of these financial statements.** **8** Imam Ali Foundation ststement of Flnanclal Poslllon 30 June 2021 2020 Flxed a••et• Tangible fixed 88sets 13 2,￿￿,534 2,740,135 Curr•nt a•Mt• D8blors Cash at bank arKI kn hand 14 191,618 1.814,391 188,643 1,137.841 2.c￿,1￿?9 1,326,484 Cr•dltor•: amount• falllng du• *llhln •)n• y•ar N•t curr•nt a•••¢• 74,774 11.073 1,931,235 4,437,7e9 1,31 S,41 t Totil a•••ts l•1• currnnt 4,055.548 4.437,789 4,055, Fund• of the charfty Reslricled lund8 unrns1￿cl8d lund8 993.400 3.444.370 818,465 3.237.091 Total ch•rfty lund• 18 4,437,770 4,OSS,$48 These IlnancJal 8tatement8 were approved the board of tru8tee8 arKI auifrt)r￿ for188u8 on 7 Mar 2022. and are $lgn8d on behaff of the board ty.. Syed M R&¥1 Trustee Th• notss p*yM 11 to f8 fonn pArt of Ih•w fin*nciil •l•t•Tr•nty. ## **Imam Ali Foundation** ## **Statement of Cash Flows** ## **Year ended 30 June 2021** ||**2021**|2020| |---|---|---| ||**£**|£| |**Cash flows from operating activities**||| |Net income|382,223|260,410| |_Adjustments for:_||| |Depreciation of tangible fixed assets|2,686|2,696| |Net gains on investments|(298,500)|–| |Dividends, interest and rents from investments|(20,800)|–| |Other interest receivable and similar income|(154)|(231)| |Interest payable and similar charges|648|905| |Accrued (income)/expenses|(4,800)|4,800| |_Changes in:_||| |Trade and other debtors|(2,975)|122,141| |Trade and other creditors|68,501|(15)| ||--------------------------------|--------------------------------| |Cash generated from operations|126,829|390,706| |Interest paid|(648)|(905)| |Interest received|154|231| ||--------------------------------|--------------------------------| |Net cash from operating activities|126,335|390,032| ||================================|================================| |**Cash flows from investing activities**||| |Dividends, interest and rents from investments|20,800|–| |Purchase of tangible assets|(585)|(4,118)| |Proceeds from sale of tangible assets|231,500|–| |Proceeds from sale of other investments|298,500|–| ||--------------------------------|--------------------------------| |Net cash from/(used in) investing activities|550,215|(4,118)| ||================================|================================| |**Net increase in cash and cash equivalents**|676,550|385,914| |**Cash and cash equivalents at beginning of year**|1,137,841|751,927| ||-----------------------------------------|-----------------------------------------| |**Cash and cash equivalents at end of year**|1,814,391|1,137,841| ||=========================================|=========================================| **The notes on pages 11 to 18 form part of these financial statements.** **10** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** ## **Year ended 30 June 2021** ## **1. General information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 65 Brondesbury Park, London, NW6 7AX. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **11** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** ## **3. Accounting policies** _**(continued)**_ ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. **12** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** ## **3. Accounting policies** _**(continued)**_ ## **Tangible assets** _**(continued)**_ An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. ## **Depreciation** Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures and fittings - 25% Straight line Equipment - 25% Straight line ## **Impairment of fixed assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. **13** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** _**(continued)**_ Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **4. Donations and legacies** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2021**| ||£|£|**£**| |**Donations**|||| |Donations|17,074|–|17,074| |Fitra|–|3,965|3,965| |Khums|–|495,774|495,774| |Orphans / poor|–|2,457|2,457| |Qurabani|–|623|623| |Sadqa|–|23,665|23,665| |Fidya / Kaffara|–|2,149|2,149| |Zakat|–|2,775|2,775| |Gfit Aid|–|–|–| |**Grants**|||| |Grants receivable|910|–|910| ||----------------------------|--------------------------------|--------------------------------| ||17,984|531,408|549,392| ||============================|================================|================================| **14** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** **4. Donations and legacies** _**(continued)**_ ||||Unrestricted|Restricted|Total Funds| |---|---|---|---|---|---| ||||Funds|Funds|2020| ||||£|£|£| ||**Donations**||||| ||Donations||60,514|182|60,696| ||Fitra||–|3,965|3,965| ||Khums||–|566,799|566,799| ||Orphans / poor||–|1,058|1,058| ||Qurabani||–|320|320| ||Sadqa||–|23,345|23,345| ||Fidya / Kaffara||–|4,773|4,773| ||Zakat||–|1,892|1,892| ||Gfit Aid||16,285|–|16,285| ||**Grants**||||| ||Grants receivable||25,000|–|25,000| ||||--------------------------------|--------------------------------|--------------------------------| ||||101,799|602,334|704,133| ||||================================|================================|================================| |**5.**|**Investment income**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2021**|Funds|2020| |||£|**£**|£|£| ||Income from investment properties|20,800|20,800|–|–| ||Bank interest receivable|154|154|231|231| |||----------------------------|----------------------------|--------------|--------------| |||20,954|20,954|231|231| |||============================|============================|==============|==============| |**6.**|**Expenditure on charitable activities**|**by fund type**|||| ||||Unrestricted|Restricted|**Total Funds**| ||||Funds|Funds|**2021**| ||||£|£|**£**| ||Charitable activities||–|356,463|356,463| ||Support costs||130,159|–|130,160| ||||--------------------------------|--------------------------------|--------------------------------| ||||130,159|356,463|486,623| ||||================================|================================|================================| ||||Unrestricted|Restricted|Total Funds| ||||Funds|Funds|2020| ||||£|£|£| ||Charitable activities||7,800|322,557|330,359| ||Support costs||113,597|–|113,595| ||||--------------------------------|--------------------------------|--------------------------------| ||||121,397|322,557|443,954| ||||================================|================================|================================| **15** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** ## **7. Expenditure on charitable activities by activity type** ||Activities|||| |---|---|---|---|---| ||undertaken|Support|**Total funds**|Total fund| ||directly|costs|**2021**|2020| ||£|£|**£**|£| |Charitable activities|356,463|124,494|480,957|437,153| |Governance costs|–|5,666|5,666|6,801| ||--------------------------------|--------------------------------|--------------------------------|--------------------------------| ||356,463|130,160|486,623|443,954| ||================================|================================|================================|================================| ## **8. Analysis of support costs** |||Analysis of||| |---|---|---|---|---| |||support costs|**Total 2021**|Total 2020| |||£|**£**|£| |Staff costs||45,237|45,237|44,342| |Premises||35,090|35,090|36,368| |Communications and IT||4,181|4,181|3,643| |General office||8,861|8,861|11,021| |Finance costs||648|648|905| |Governance costs||5,664|5,664|6,801| |Legal & professional costs||27,792|27,792|7,818| |Depreciation||2,685|2,685|2,696| |||--------------------------------|--------------------------------|--------------------------------| |||130,158|130,158|113,594| |||================================|================================|================================| |**Net gains on investments**||||| ||Unrestricted|
**Total Funds**|Unrestricted|Total Funds| ||Funds|
**2021**|Funds|2020| ||£|**£**|£|£| |Gains/(losses) on investment property|298,500|
298,500|–|–| ||================================|================================|==============|==============| |**Net income**||||| |Net income is stated after charging/(crediting):||||| ||||**2021**|2020| ||||**£**|£| |Depreciation of tangible fixed assets|||2,686|2,696| ||||=======================|=======================| ## **9. Net gains on investments** ## **10. Net income** Net income is stated after charging/(crediting): ## **11. Staff costs** The average head count of employees during the year was 4 (2020: 4). No employee received employee benefits of more than £60,000 during the year (2020: Nil). **16** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** ## **12. Trustee remuneration and expenses** Syed M Rizvi was paid £14,400 (2020: £12,250) for lectures and tabligh work carried out during the year. No remuneration or other benefits from employment with the charity or a related entity were received by the other trustees. ## **13. Tangible fixed assets** ||Freehold|Fixtures and||| |---|---|---|---|---| ||property|fittings|Equipment|**Total**| ||£|£|£|**£**| |**Cost**||||| |At 1 July 2020|2,735,323|838|9,320|2,745,481| |Additions|–|–|585|585| |Disposals|(231,500)|–|–|(231,500)| ||-----------------------------------------|--------------|-----------------------|-----------------------------------------| |**At 30 June 2021**|2,503,823|838|9,905|2,514,566| ||=========================================|==============|=======================|=========================================| |**Depreciation**||||| |At 1 July 2020|–|628|4,718|5,346| |Charge for the year|–|209|2,477|2,686| ||-----------------------------------------|--------------|-----------------------|-----------------------------------------| |**At 30 June 2021**|–|837|7,195|8,032| ||=========================================|==============|=======================|=========================================| |**Carrying amount**||||| |**At 30 June 2021**|2,503,823|1|2,710|2,506,534| ||=========================================|==============|=======================|=========================================| |At 30 June 2020|2,735,323|210|4,602|2,740,135| ||=========================================|==============|=======================|=========================================| |**Debtors**||||| ||||**2021**|2020| ||||**£**|£| |Other debtors|||191,618|188,643| ||||================================|================================| |**Creditors:** **amounts falling due within one year**||||| ||||**2021**|2020| ||||**£**|£| |Accruals and deferred income|||4,800|9,600| |Social security and other taxes|||1,472|1,473| |Other creditors|||68,502|–| ||||----------------------------|----------------------------| ||||74,774|11,073| ||||============================|============================| ## **14. Debtors** ## **15. Creditors: amounts falling due within one year** **17** ## **Imam Ali Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 June 2021** ## **16. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| ||||||**At**| ||At|||Gains and|
**30 June 202**| ||1 July 2020|Income|Expenditure|losses|
**1**| ||£|£|£|£|£| |General funds|3,237,091|38,938|(130,159)|298,500|
3,444,370| ||=========================================|============================|================================|================================|=========================================| ||At|||Gains and|
At| ||1 July 2019|Income|Expenditure|losses|
30 June 2020| ||£|£|£|£|£| |General funds|3,256,458|102,030|(121,397)|–|
3,237,091| ||=========================================|================================|================================|==============|=========================================| |**Restricted funds**|||||| ||||||**At**| ||At|||Gains and|
**30 June 202**| ||1 July 2020|Income|Expenditure|losses|
**1**| ||£|£|£|£|£| |Restricted Funds|818,455|531,408|(356,463)|–|
993,400| ||================================|================================|================================|==============|================================| ||At|||Gains and|
At| ||1 July 2019|Income|Expenditure|losses|
30 June 2020| ||£|£|£|£|£| |Restricted Funds|538,678|602,334|(322,557)|–|
818,455| ||================================|================================|================================|==============|================================| |**Analysis of net assets between funds**|||||| ||||Unrestricted|Restricted|
**Total Funds**| ||||Funds|Funds|
**2021**| ||||£|£|**£**| |Tangible fixed assets|||2,506,534|–|
2,506,534| |Current assets|||1,015,849|993,400|
2,009,249| |Creditors less than 1 year|||(78,014)|–|
(78,014)| ||||-----------------------------------------|--------------------------------|-----------------------------------------| |**Net assets**|||3,444,369|993,400|
4,437,769| ||||=========================================|================================|=========================================| ||||Unrestricted|Restricted|
Total Funds| ||||Funds|Funds|
2020| ||||£|£|£| |Tangible fixed assets|||2,740,135|–|
2,740,135| |Current assets|||508,029|818,455|
1,326,484| |Creditors less than 1 year|||(11,073)|–|
(11,073)| ||||-----------------------------------------|--------------------------------|-----------------------------------------| |**Net assets**|||3,237,091|818,455|
4,055,546| ||||=========================================|================================|=========================================| |**Analysis of changes in net debt**|||||| ||||||**At**| ||||At 1 Jul 2020|Cash flows|**30 Jun 2021**| ||||£|£|**£**| |Cash at bank and in hand|||1,137,841|676,550|
1,814,391| ||||=========================================|================================|=========================================| ## **Restricted funds** ## **17. Analysis of net assets between funds** ## **18. Analysis of changes in net debt** **18**