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← Imam Ali Foundation

2024-06-30-accounts

CHARITY REGISTRATION NUMBER: 1172217

Imam Ali Foundation

Financial Statements

30 June 2024

MERALI'S

Chartered accountants & statutory auditor Scottish Provident House 76-80 College Road Harrow Middlesex HA1 1BQ

Imam Ali Foundation

Financial Statements

Year ended 30 June 2024

Page
Trustees' annual report 1
Independent auditor's report to the members 4
Statement of financial activities 7
Statement of financial position 8
Statement of cash flows 9
Notes to the financial statements 10

Imam Ali Foundation

Trustees' Annual Report

Year ended 30 June 2024

The trustees present their report and the financial statements of the charity for the year ended 30 June 2024.

Reference and administrative details

Registered charity name Imam Ali Foundation
Charity registration number 1172217
Principal office 65 Brondesbury Park
London
NW6 7AX
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 Merali's
Chartered accountants & statutory auditor
Scottish Provident House
76-80 College Road
Harrow
Middlesex
HA1 1BQ
Bankers Barclays
54 Lombart Street
London
EC3P 3AH

1

Imam Ali Foundation

Trustees' Annual Report (continued)

Year ended 30 June 2024

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 8 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.

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, Liverpool, Cardiff and Hull.

Financial review

The trustees were satisfied with the financial position of the charity. The charity has sufficient funds to meet at least 6 months direct and operating costs as required per the reserves policy.

2

Imam Ali Foundation

Trustees' Annual Report (continued)

Year ended 30 June 2024

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:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of its Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees’ annual report was approved on 15 May 2025 and signed on behalf of the board of trustees by:

ne Syed M Rizvi Trustee

3

Imam Ali Foundation

Independent Auditor's Report to the Members of Imam Ali Foundation

Year ended 30 June 2024

Opinion

We have audited the financial statements of Imam Ali Foundation (the 'charity') for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

4

Imam Ali Foundation

Independent Auditor's Report to the Members of Imam Ali Foundation (continued)

Year ended 30 June 2024

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - enquiring of management and trustees including obtaining and reviewing supporting documentation concerning the charity's policies and procedures relating to:

5

Imam Ali Foundation

Independent Auditor's Report to the Members of Imam Ali Foundation (continued)

Year ended 30 June 2024

risks of material misstatement due to fraud.

Audit response to risks identified

As a result of performing the above, we identified management override of controls, revenue recognition including occurrence and classification of donation income and the occurrence and classification of charitable payments as key audit matters.

Our procedures to respond to risks identified included the following:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Merali's Chartered accountants & statutory auditor Scottish Provident House 76-80 College Road Harrow Middlesex HA1 1BQ 15 May 2025 4

6

Imam Ali Foundation

Statement of Financial Activities

Year ended 30 June 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 132,366 321,277 453,643 1,142,500
Investment income 5 17,896 – 17,896 19,396
-------------------------------- -------------------------------- -------------------------------- -----------------------------------------
Total income 150,262 321,277 471,539 1,161,896
================================ ================================ ================================ =========================================
Expenditure
Expenditure on charitable activities 6,7 171,526 455,833 627,359 614,515
-------------------------------- -------------------------------- -------------------------------- -----------------------------------------
Total expenditure 171,526 455,833 627,359 614,515
================================ ================================ ================================ =========================================
Net gains on investments 9 – – – (175,000)
-------------------------------- -------------------------------- -------------------------------- -----------------------------------------
Net (expenditure)/income and net
movement in funds (21,264) (134,556) (155,820) 722,381
================================ ================================ ================================ =========================================
Reconciliation of funds
Total funds brought forward 3,773,186 142,479 3,915,665 3,193,284
----------------------------------------- -------------------------------- ----------------------------------------- -----------------------------------------
Total funds carried forward 3,751,922 7,923 3,759,845 3,915,665
========================================= ================================ ========================================= =========================================

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 10 to 17 form part of these financial statements.

7

Imam Ali Foundation

Statement of Financial Position

30 June 2024

==> picture [438 x 219] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |Note|£|cy| |Fixed|assets| |Tangible|fixed|assets|14|3,142,637|3,158,377| |Current|assets| |Cash|at|bank|and|in|hand|638,479|768,636| |Creditors:|amounts|falling|due|within|one|year|15|21,271|11,348| |Net|current|assets|617,208|757,288| |Total|assets|less|current|liabilities|3,759,845|3,915,665| |Net|assets|3,759,845|3,915,665| |Funds|of the|charity| |Restricted|funds|7,923|142,479| |Unrestricted|funds|3,751,922|3,773,186| |Total|charity funds|16|3,759,845|3,915,665|

----- End of picture text -----

These financial statements were approved by the board of trustees and authorised for issue on 15 May 2025, and are signed on behalf of the board by:

Syed M Rizvi Trustee

The notes on pages 10 to 17 form part of these financial statements.

8

Imam Ali Foundation

Statement of Cash Flows

Year ended 30 June 2024

2024 2023
£ £
Cash flows from operating activities
Net (expenditure)/income (155,820) 722,381
Adjustments for:
Depreciation of tangible fixed assets 15,740 16,769
Net gains on investments – (175,000)
Dividends, interest and rents from investments (17,600) (19,200)
Other interest receivable and similar income (296) (196)
Interest payable and similar charges 1,584 1,006
Accrued expenses/(income) 11,140 (200)
Changes in:
Trade and other debtors – 84,051
Trade and other creditors (1,217) 2,748
-------------------------------- --------------------------------
Cash generated from operations (146,469) 632,359
Interest paid (1,584) (1,006)
Interest received 296 196
-------------------------------- --------------------------------
Net cash (used in)/from operating activities (147,757) 631,549
================================ ================================
Cash flows from investing activities
Dividends, interest and rents from investments 17,600 19,200
Purchase of tangible assets – (495,000)
Proceeds from sale of other investments – 175,000
-------------------------------- --------------------------------
Net cash from/(used in) investing activities 17,600 (300,800)
================================ ================================
Net (decrease)/increase in cash and cash equivalents (130,157) 330,749
Cash and cash equivalents at beginning of year 768,636 612,887
-------------------------------- --------------------------------
Cash and cash equivalents at end of year 638,479 943,636
================================ ================================

The notes on pages 10 to 17 form part of these financial statements.

9

Imam Ali Foundation

Notes to the Financial Statements

Year ended 30 June 2024

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

The financial statements have been prepared on a going concern basis.

The Trustees have assessed the charity’s ability to continue as a going concern and are satisfied that there are no material uncertainties that cast significant doubt on the charity’s ability to continue in operation for the foreseeable future. The Trustees have a reasonable expectation that the charity has adequate resources to continue its activities for at least 12 months from the date of approval of the financial statements.

Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements.

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.

Incoming resources

All income is 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:

10

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

3. Accounting policies (continued)

Incoming resources (continued)

Resources expended

Expenditure is recognised gross on an accruals basis as a liability is incurred. Expenditure is classified under headings of the statement of financial activities to which it relates:

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.

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.

11

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

3. Accounting policies (continued)

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:

Freehold property - Straight Line Method over 50 years on building element
only
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.

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.

12

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

3. Accounting policies (continued)

Financial instruments (continued)

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 2024
£ £ £
Donations
Donations 132,366 – 132,366
Fitra – 3,898 3,898
Khums – 270,461 270,461
Orphans / poor – 915 915
Qurabani – 105 105
Sadqa – 42,647 42,647
Fidya / Kaffara – 2,586 2,586
Zakat – 665 665
-------------------------------- -------------------------------- --------------------------------
132,366 321,277 453,643
================================ ================================ ================================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Donations 603,076 – 603,076
Fitra – 4,627 4,627
Khums – 505,118 505,118
Orphans / poor – 1,494 1,494
Qurabani – 40 40
Sadqa – 26,381 26,381
Fidya / Kaffara – 1,064 1,064
Zakat – 700 700
-------------------------------- -------------------------------- -----------------------------------------
603,076 539,424 1,142,500
================================ ================================ =========================================

13

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

5. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Income from investment properties 17,600 17,600 19,200 19,200
Bank interest receivable 296 296 196 196
---------------------------- ---------------------------- ---------------------------- ----------------------------
17,896 17,896 19,396 19,396
============================ ============================ ============================ ============================

6. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Charitable activities – 455,833 455,834
Support costs 171,526 – 171,525
-------------------------------- -------------------------------- --------------------------------
171,526 455,833 627,359
================================ ================================ ================================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Charitable activities – 396,945 396,945
Support costs 217,570 – 217,570
-------------------------------- -------------------------------- --------------------------------
217,570 396,945 614,515
================================ ================================ ================================

7. Expenditure on charitable activities by activity type

Activities
undertaken Support Total funds Total fund
directly costs 2024 2023
£ £ £ £
Charitable activities 455,834 159,521 615,355 605,051
Governance costs – 12,004 12,004 9,464
-------------------------------- -------------------------------- -------------------------------- --------------------------------
455,834 171,525 627,359 614,515
================================ ================================ ================================ ================================

14

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

8. Analysis of support costs

Analysis of
support costs Total 2024 Total 2023
£ £ £
Staff costs 49,292 49,292 33,317
Premises 69,490 69,490 131,394
Communications and IT 4,616 4,616 4,447
General office 13,581 13,581 16,925
Finance costs 1,584 1,584 1,006
Governance costs 12,004 12,004 9,464
Legal & professional costs 5,219 5,219 4,248
Depreciation 15,740 15,740 16,769
-------------------------------- -------------------------------- --------------------------------
171,526 171,526 217,570
================================ ================================ ================================
9. Net gains on investments
Unrestricted
Total Funds		 Unrestricted Total Funds
Funds
2024		 Funds 2023
£ £ £ £
Gains/(losses) on investment property –
–		 175,000 175,000
============== ============== ================================ ================================
10. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 15,740 16,769
============================ ============================
11. Auditors remuneration
2024 2023
£ £
Fees payable for the audit of the financial statements 7,540 5,000
======================= =======================
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 49,292 33,317
============================ ============================
The average head count of employees during the year was 5 (2023: 4).

The average number of volunteers during the year were 5 (2023: 4).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

15

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

13. Trustee remuneration and expenses

Syed M Rizvi was paid £14,400 (2023: £15,000) during the year for lectures and promotion of Islamic faith. No remuneration or other benefits from employment with the charity or a related entity were received by the other trustees.

14. Tangible fixed assets

Freehold
Fixtures and		 Investment
property
fittings		 Equipment Property Total
£ £ £ £ £
Cost
At 1 July 2023 and
30 June 2024 2,598,823
838		 9,905 575,000 3,184,566
========================================= ============== ======================= ================================ =========================================
Depreciation
At 1 July 2023 15,593
837		 9,759 – 26,189
Charge for the year 15,593
1		 146 – 15,740
----------------------------------------- -------------- ----------------------- -------------------------------- -----------------------------------------
At 30 June 2024 31,186
838		 9,905 – 41,929
========================================= ============== ======================= ================================ =========================================
Carrying amount
At 30 June 2024 2,567,637
–		 – 575,000 3,142,637
========================================= ============== ======================= ================================ =========================================
At 30 June 2023 2,583,230
1		 146 575,000 3,158,377
========================================= ============== ======================= ================================ =========================================

15. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 19,740 8,600
Social security and other taxes 157 143
Other creditors 1,374 2,605
---------------------------- ----------------------------
21,271 11,348
============================ ============================

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At Gains and
30 June 202
1 July 2023 Income Expenditure losses
4
£ £ £ £ £
General funds 3,773,186 150,262 (171,526) –
3,751,922
========================================= ================================ ================================ ============== =========================================
At Gains and
At
1 July 2022 Income Expenditure losses
30 June 2023
£ £ £ £ £
General funds 3,193,284 622,472 (217,570) 175,000
3,773,186
========================================= ================================ ================================ ================================ =========================================

16

Imam Ali Foundation

Notes to the Financial Statements (continued)

Year ended 30 June 2024

16. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At
At Gains and 30 June 202
1 July 2023 Income Expenditure losses 4
£ £ £ £ £
Restricted Funds 142,479 321,277 (455,833) – 7,923
================================ ================================ ================================ ============== =======================
At Gains and At
1 July 2022 Income Expenditure losses 30 June 2023
£ £ £ £ £
Restricted Funds – 539,424 (396,945) – 142,479
============== ================================ ================================ ============== ================================
Analysis of net assets between funds
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 3,142,637 – 3,142,637
Current assets 630,556 7,923 638,479
Creditors less than 1 year (21,271) – (21,271)
----------------------------------------- ----------------------- -----------------------------------------
Net assets 3,751,922 7,923 3,759,845
========================================= ======================= =========================================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 3,158,377 – 3,158,377
Current assets 626,157 142,479 768,636
Creditors less than 1 year (11,348) – (11,348)
----------------------------------------- -------------------------------- -----------------------------------------
Net assets 3,773,186 142,479 3,915,665
========================================= ================================ =========================================
Analysis of changes in net debt
At
At 1 Jul 2023 Cash flows 30 Jun 2024
£ £ £
Cash at bank and in hand 768,636 (130,157)
638,479
================================ ================================ ================================

17. Analysis of net assets between funds

18. Analysis of changes in net debt

17