2023-12-31-accounts

Charity Registration No. 1172494 Company Registration No. CE009878

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

CONTENTS

	Page
Legal and administrative information	1
Trustees' Report	2 - 4
Independent Examiners Report	5-6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Accounts	9-14

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Dr Hashim Mohammed Ali Mahdi
	Dr Mohammad Bin Abdulkarim Al-Issa	Chair
	Dr Abdurrahman B Abdullah Al Zaid
	Mr Saud Bin Nasser Al-Hamdan	Resigned on 5 October 2022
	Dr Mohammad Siddique Nojoum
	Sir Iqbal Sacranie OBE	Appointed on 25 November 2022
Chief Executive Officer	Mr Muath Alamri	Appointed on 1 May 2023
	Dr Ahmad Makhdoom	Resigned on 1 January 2023
Charity Registration Number	1172494
Company Registration Number	CE 009878
Registered Office	46 Goodge Street
	London
	W1T 4LU
Bankers	Al Rayan Bank
	Edgbaston House
	3 Duchess Place
	Birmingham
	B18 8NH
Independent Examiner	M. Said & Co. Chartered Certified Accountants
	137 Blackstock Road
	London
	N4 2JW
Legal Adviser	M H A Thomson Barrister Wynne Chambers
	5 Kimberley Road
	London
	NW6 7SG

1

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the independently examined Financial Statements of THE MUSLIM WORLD LEAGUE LONDON OFFICE TRUST registered charity number 1172494 (The Charity) for the year ended 31st December 2023. The trustees confirm that the Financial Statements are prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, applicable law and the requirement of the Financial Reporting Standard (FRS 102 SORP) , "Accounting and Reporting by Charities " (effective January 2016) and in accordance with the Charities Act 2011. The charity constitutes a public benefit body as defined by FRS102.

COMMENCEMENT AND ACQUISITION OF ASSETS

The Charity commenced its activities as a charitable incorporated organisation (CIO) on 1st August 2018; acquired assets and liabilities from The Muslim World League London Office Trust, charitable trust , (registered Charity no. 290098),with the transfer of the Charity's properties freehold titles being completed on 31st July 2018. by way of deed of transfer dated 25th December 2017, as varied by a Deed of Variation dated the 16 April 2018 on 31st July 2018.

The transfer of all assets and liabilities from the charitable trust to the charitable incorporated organisation was made in accordance with a Trust Deed of the charitable trust dated the 6th of August 1984 (As amended by supplementary deeds executed on the 4th December 2005, the 9th of June 2008 and the 14th of August 2011) and a trustees resolution made on 22 February 2015 and in accordance with the requirements and approval of the Charity Commission. The charitable trust ( 290098) was subsequently removed from the register of charities on the 26 July 2019.

CONSTITUTION, STRUCTURE , GOVERNNACE AND MANAGEMENT

a: Governing Documents

Following consultation with the Charity Commission, the current constitution of the charity was formally adopted on the 22nd December 2016 and registered with the Charity Commission on the 7th April 2017. After the transfer of assets and liabilities outlined in the preceding paragraph had been completed, the Charity commenced its activities on 1st August 2018.

The name of the charitable incorporated organisation is : Muslim World League London Office Trust. Its company registration number is CE 009878 and its principal office is in London, England.

b. Method of Appointment or Election of Trustees

The management of the charity is the responsibility of the Trustees who are appointed and co-opted under the terms of the Constitution. Trustees are appointed by the board of Trustees which is currently comprised of five (2022 : five) members.

Following an amendment made to the constitution on 25th May 2020 the number of trustees who are appointed by reference to the post they hold have been reduced from four to three trustees by removing the requirement to have the Director-General of The Regent Park Mosque to become a trustee. The trustees who will be appointed by reference to their posts are:

i: The Secretary - General of the Muslim World League of Makkah (Who will always be the Chairman). ii: The Assistant Secretary - General of the World Council of Mosques in Makkah. This requirement was amended by trustees resolution dated 5 October 2022 to "whomever hold the position of the Deputy Secretary- General of the Muslim World League in Makkah". iii: The Head of Islamic Affairs at the Royal Embassy of the Kingdom of Saudi Arabia in London. This requirement was replaced by Trustees resolution on 5 October 2022 to " a member from among the qualified residents of England and Wales".

The amendments to the constitution in clause ii and iii above proposed by the trustees meeting on 5 October 2022 were filed with and approved by the Charity Commission on 16th March 2023. The maximum number of trustees is seven and the minimum is three.

When selecting an individual for appointment as a charity trustee, the charity trustees consider their skills, knowledge and experience which are needed for the effective administration of the Charity. During the year Sir Iqbal Sacranie OBE was invited to become a member of the board of trustees and was appointed on 25th November 2022.

c. Policies adopted for the induction and training of Trustees

On appointment, Trustees are given a copy of the Charity's Constitution to read and fully understand so as to ensure that they act in the furtherance of the charity's objectives. They are also given various booklets and access to online guidance issued by the Charity Commission to ensure that they understand the regulations governing the Charity.

The Trustees are supported throughout the year by a Barrister and a Chartered Certified Accountant to ensure compliance with the rules.

2

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

OBJECTIVES AND ACTIVITIES

a. Policies and Objectives

The Objects of the Charity are applicable throughout the world and more particularly in the city of London and in the British Isles.

The Charity's main objectives are the advancement of education for the public benefit concerning the teachings and religion of Islam, the relief of poverty, sickness and suffering of any persons who are in need irrespective of their nationality, race, ethnic origin and religious beliefs; the advancement of religious and racial harmony for the benefit of the public, and to further such other purposes which are charitable under the laws of England and Wales as the trustees may think fit.

b. Strategies for achieving objectives

The Charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarised below, provide benefit both to those who worship at its Mosque and the wider community.

c. Activities for achieving objectives

The main activities of the Charity during this period have been:

Religious

Daily and Friday prayers were conducted as normal during the year as well as Eid prayer.

The Charity provided financial assistance to UK based organisations with similar objectives as well as needy individuals. All applications for assistance are considered on a two-weekly basis, or earlier in case of emergency cases. All applications are vetted carefully and approved in accordance with the charity's donation policy.

Cultural

Eid celebrations and social events were held on two Eids ( celebrations after Ramadan and Hajj) during the year.

FINANCIAL REVIEW

a: Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. The Charity aims to maintain a level of reserves, excluding fixed assets, at a sufficient level to enable it to continue its work without any interruption, in case funds from Muslim World League in Makkah are delayed.

b: Factors relevant to achieving Objectives

Over the past thirty five years, the Charity (firstly as a charitable trust and now as a charitable incorporated organisation) has established a reputation for trust, integrity and inclusivity. This is borne out by the high number of the local community members who attend prayers and engage with the Charity's activities , which has been made possible thanks to the longstanding support from The Muslim World League in Makkah which continues to monitor and evaluate the Charity's performance and continue to extend their support.

c: Reserves Policy:

The charity is an autonomous branch of, and receives most of its funding from, the Muslim World League in Makkah. It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent at least to two months requirements, which will ensure that in the event of a significant drop in funding, the trustees will be able to continue the charity's activities while consideration is given to ways in which additional funds may be raised. The Muslim World League in Makkah is committed to ensuring that Muslim World League London Office trust is adequately funded. As at the 31 December 2023 the Charity unrestricted reserves stood at £183,204 (2022:£477,596 ) and the restricted reserves at £ 536,356 ( 2022: £520,365).

3

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

d: Principal funding

The principal and major donor is Muslim World League in Makkah (MWLM), Saudi Arabia. It (The Charity ) aims to be self-funding by relying on income it generates .

It succeeded in obtaining planning permission to build a commercial unit as well as two residential units which will be rented or leased to generate income to further reduce its reliance on MWLM. The years 2023 and 2022 showed a marked decline in remittances from Muslim World League in Makkah.

Development work of the residential flats which was planned to start in November 2023 has now been postponed until funds become available to ensure no interruption in work.

Rental income from the shop is £150,000 p.a.

e: Risk Management:

The trustees have assessed the major risks to which the charity is exposed and have drawn up a risk matrix which identifies the major risks by area of activity, the nature of the risks, the likelihood of the risk happening and the measures taken to manage them. The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks that have been identified. The charity has decided to limit speakers at congregations primarily to employees of the charity only. In the event that a speaker from outside the organisation is invited, he or she will be fully vetted prior to the invitation.

INDEPENDENT EXAMINER

M. Said & Co., Chartered Certified Accountants were appointed as Independent Examiners to the charity for the year ended 31 December 2023 and in accordance with the Charities Act 2011, a resolution proposing that they be re-appointed for the year ended 31st December 2024 will be put to the Board of Trustees.

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 & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and the application of resources of the charity the period. In preparing the Financial Statements, the trustees are required to:

a)	select suitable accounting policies and then apply them consistently;
b)	observe the methods and principles in the Charities SORP;
c)	make judgements and accounting estimates that are reasonable and prudent;
d)	prepare the financial statements on the going concern basis unless it is inappropriate
	to presume that the charity will continue in operation.

The trustees are responsible for keeping proper 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Signed By: Sir Iqbal Sacranie OBE Trustee Date: 31st October 2024

4

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST CHARITY NUMBER 1172494 INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Roport to th? tN$tst$ of Musllm World League London Offlcg Trust Charlty number 1172494 Company reglslralion numb8r CE009878. On accounts lor the year ended 31 December 2023 set oul on paggs 7 10 14. I report to the tntstse8 on my oxomlnallon of the acoounts of thè above arlty lor Ihe year ended 31 DorKmber 2023. R￿PonSIbIlItIeS 8nd bas18 of report As the charfvs trustees, you are responsibl& for the preparation of the accounts in accordance wlth the requlrements of the Charities Act 2011 l.the Act'>. I rèport In respect of my examlnatlon of tho Trusfs account8 wrled oul undér s•cllon 145 of the 2011 Act and In carrylng out my examlnatlon. I have followed all the applicable Dlrections given by the Charlty CcAnml8slon under section 145(5llb) of the Act. Indopendent examln•rf$ sLit•mont The Charit￿s gross incom8 exceeded £250.000 and l am quafified to urKlertake the exarnination by being a qualified member of the Association of Chartered Certlfiod Accountants . Matters Arfslng During my gxamlnallon, I noted that: 1. Tho ¢h8rfty Investsd durfng the year the sum of £200,000 in Portillkjn SPV1 Limited. ( horeafter rofgrrod to as the'lnvestse companf}, a prfvate Ilmlted company In thIGh on8 of the trustees of the Charlty was a dlreGtor. Thls investment represents g substsnl181 commlbnont relative to the charity$ assots and r8sour¢gs. 2. The contllctad trustee was rKI Involved In the decIsi￿-makIng process regarding the Investment In the Inves188 company and it appears that appropriate govemancg procedures were followed to manage any potentSal confiict of Inler8St in thls matter. However, the scale of thg Investrnent underflnes the Importance of rlgorous dug dillggnce and govemance and It may hava b88n moro prudent If the confllcted trusteè reslgned from the Inveslee company at an earfler dats than the date the investment was made. 3. Shortly aftor the Investment was made. the Investee wnpany went Into admlnlstration, ralslrmj concems over the recoverablllty of thls Investment. However. the company was bought by BSQ Holdlngs Ltd . At the Ilme of wrlllng thi$ report, it 18 uncertaSn whether Ihe Char￿ wlll be able to rec¢)ver the full sum invested but the I￿￿¢ee5 are hO￿fUl that the inveslment will rise in value in near future.

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST CHARrrY NUMBER 1172494 INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Base(l on my examinalion and except f¢Y the aLKM. I confim) no material matters have come to my attention in o)nneclim ith the exarrinallon t￿ICh glves causg to believe that in, any material r8SPgCt the accountlng records were Tr)t kept in acAxrdance Tmlh $8(al¢Jn 130 ofthe ch￿tIeS Act: or the accounts did r￿1 a¢(>)rd wlth the accountkng record5: the accounts dld rKrt comply wth the aFo4cablo requkements conceming fomi aNI c￿lt￿nI of accounts set oul in the Charftles (Accounts and Re[￿rts) Regulalions 2008 other than ￿Y requirement that the accounls give a Irue and fairf view is not a matter on¥ider¢d as part of an indeFendenl eXa￿natiOn. th•lr due dilig6fbC• processes to ensu￿ robust assessment of fu￿re InV9sts￿n1 Thls will b• a￿lY ImpcKtanl whére there may be any pwcebvwj ly actual confikts of Interest Thls proactive approath V•Y)uld serve to r*otecl the charflys assets reputatton. conneclon wlth the gxanlnaticffl lo vkntch aliontion shoukl be dravm in Ihis reFXXt order to enable a proper understa ding of the accounts to be reached Signed: Dat&: 3111012aL4• Name: Mahmud Sokl F Fdlow Chartered CertSfied Accountant

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Funds 2023 Notes £ INCOMING RESOURCES Activities in furtherance of the charity's objectives: Voluntary Income 2 187,889 Investment income 3 166,106 TOTAL INCOMING RESOURCES 353,994 RESOURCES EXPENDED Charitable activities 4&5 607,057 Others 6 41,329 TOTAL RESOURCES EXPENDED 648,386 NET MOVEMENT IN FUNDS (294,392) Reconciliation of funds TOTAL FUNDS AT 01.01.2023 477,596 TOTAL FUNDS AT 31.12.2023 14 183,204	Unrestricted Funds 2023 Notes £ INCOMING RESOURCES Activities in furtherance of the charity's objectives: Voluntary Income 2 187,889 Investment income 3 166,106 TOTAL INCOMING RESOURCES 353,994 RESOURCES EXPENDED Charitable activities 4&5 607,057 Others 6 41,329 TOTAL RESOURCES EXPENDED 648,386 NET MOVEMENT IN FUNDS (294,392) Reconciliation of funds TOTAL FUNDS AT 01.01.2023 477,596 TOTAL FUNDS AT 31.12.2023 14 183,204	Restricted Funds 2023 £ 82,887 - 82,887 66,896 - 66,896	Total 2023 £ 270,775 166,106 436,881 673,953 41,329 715,282 (278,401) 997,961 - 719,560	Total 2022 £ 98,655 235,049
				333,704
				542,450 37,621
				580,071
		15,991		(246,367)
				1,244,328 -
		520,365 536,356
	477,596 183,204
				997,961

The notes on Pages 9 to 14 form part of these financial statements.

7

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST BALANCE SHEET AS AT 31 DECEMBER 2023

Notes FIXED ASSETS Tangible Fixed Assets 9 CURRENT ASSETS Investment 10 Debtors 11 Cash at Bank and in Hand 12 Total Current Assets CREDITORS: amounts falling due within one year 13 NET CURRENT ASSETS NET ASSETS CHARITY FUNDS Unrestricted funds 14 Restricted funds 14	Unrestricted Funds 31.12.2023 £ 19,646 19,646 200,000 2,680 32,931 235,611 (81,053) 154,558 174,204 183,204 - 183,204	Restricted Funds 31.12.2023 £ 528,981 528,981 - - 16,375 16,375 - 16,375 545,356 - 536,356 536,356	Total Funds 31.12.2023 £ 548,627	Total Funds 31.12.2022 £ 553,926
			548,627	553,926
			200,000 2,680 49,306	- 2,130 457,265
			251,986 (81,053)	459,395 (15,360)
			170,933	444,035
			719,560	997,961
			183,204 536,356	477,596 520,365
			719,560	997,961

The notes on Pages 9 to 14 form part of these financial statements.

The Financial Statements were approved by the Trustees and were signed on their behalf by:

Sir Iqbal Sacranie OBE Trustee

Date: 31st October 2024

The notes on page 9 to 14 form part of these financial statements.

8

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

1.1 Basis of Accounting :The financial statements have been prepared under

the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the relevant Financial Reporting standard applicable in the UK and Republic of Ireland FRS 102 issued on 16 July 2014 and with the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

1.2 Funds structure

General funds are unrestricted funds which are available for use at the discretion of trustees in furtherance of the general objectives of the charity and which have not been and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Incoming resources

All incoming resources are included in the statement of financial activities( SoFA) when the charity has entitlement to the funds, certainty of receipt and when the amount can be measured with sufficient reliability. There has been no offsetting of assets and liabilities or income and expenses unless permitted by FRS 102 SORP.

Grants and donations are only included in the SoFA when the general income recognition conditions are met.

1.4 Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs can not be directly attributed to particular activities they have been allocated on a basis consistent with the use of these resources.

Charitable expenditure are those costs incurred directly in support of expenditure on the object of the charity and in the delivery of activities and services for its beneficiaries.

Governance costs are those incurred in connection with the administration of the charity and in compliance with constitutional and statutory requirements, and includes its independent examination fees.

1.5 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised and at historic cost. Fixed assets are stated at cost less accumulated depreciation. Depreciation has been calculated so as to write off the cost of fixed assets less their estimated residual values over their expected useful economic lives . Full year's depreciation was charged in this period as follows:

Freehold Buildings	2% straight line
Alteration to Premises	2% straight line
Fixtures and Fittings	15% on reducing balance
Computers	33.3% on reducing balance
Motor Vehicles	25% on reducing balance

1.6 Current Assets Investments

Investment in share capital of a private limited company and is stated at cost and trustee's valuation whichever is lower.

9

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 Income Unrestricted: Donations from MWLM Restricted: Sadaqa donations received Masjid donations received Zakat donations received 3 : Investment Income: Rental income Return on investment Profit on Sale of Motor Vehicle Total investment income	Unrestricted funds £ 187,889 187,889 - 187,889 £ 150,000 77 16,029 166,106	Restricted funds £ 60,227 22,660 - 82,887 82,887 £ - - -	2023 Total £ 187,889 - 187,889 60,227 22,660 - 82,887 270,775 2023 £ 150,000 77 16,029 166,106	2022 Total £ 56,040 -
				56,040
				25,515 17,100 -
				42,615
				98,655
				2022 £ 235,000 49 -
				235,049

Annual rent receivable from the shop is £150,000 p.a.

Total rents received in 2022 were £310,000 of which £75,000 were accrued in the previous year leaving rent of £235,000 in accounts of year ended 31 December 2022 .

10

MUSLIM WORLD LEAGUE LONDON OFFICE NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 DIRECT COSTS

Training and welfare Premises costs Donations Sponsorships Insurance Telephone and internet Legal and professional fees Travelling and motor expenses Printing, postage, stationery and books Security charges Sundry expenses Catering and Ramadan Expenses Repairs and maintenance Staff salaries Redundancy payment Work place pension Depreciation 5 Support Costs Training and welfare Premises costs Sponsorships Insurance Telephone and internet Legal and professional fees Travelling and motor expenses Printing, postage, stationery and books Security charges Sundry expenses Repairs and maintenance Salaries Work Place Pension Depreciation Bank charges Total	Unrestricted Funds £ 4,008 36,186 12,000 450 7,841 4,812 68,396 8,706 2,738 83,664 26 30,207 211,959 40,000 3,922 3,130 518,047 437 4,268 50 871 535 6,288 967 304 9,296 3 3,952 60,560 1,121 348 10	Restricted Funds £ - 2,230 36,968 1,543 - - 4,500 - - - - - 5,366 - - - 16,173 66,780 - - 117 - - - - - - - - - - - - 117 66,896	Total 2023 £ 4,008 38,416 48,968 1,993 7,841 4,812 72,896 8,706 2,738 83,664 26 - 35,573 211,959 40,000 3,922 19,304 584,827 437 4,268 167 871 535 6,288 967 304 9,296 3 3,952 60,560 1,121 348 10 89,127 673,953	Total 2022 £ 3,511 31,639 9,690 0 5,425 4,105 45,724 7,175 5,057 60,965 143 10,336 50,703 199,778 4,388 22,536
				461,175
				390 3,515 603 456 3,425 797 562 6,774 16 5,633 57,079 1,254 761 10
	89,010			81,275
	607,057			542,450

11

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 GOVERNANCE COSTS

6 GOVERNANCE COSTS
Accountancy fees Independent Examination fee Wages and salaries Pension	Unrestricted Restricted Funds Funds 2023 2023 £ £ 7,990 - 2,500 - 30,279 - 560 41,329 -	Total 2023 £ 7,990 2,500 30,279 560 41,329	Total 2022 £ 6,455 2,000 28,539 627
			37,621

7 Net incoming/(outgoing) resources

Net incoming/(outgoing) resources for the year are stated after charging:

Depreciation of tangible fixed assets Independent Examination fee Accountancy fees 8 Analysis of staff costs Salaries Social Security Costs	£ 3,478 2,950 7,540 £ 276,998 25,801 302,799	£ 16,173 - - £ - - -	£ 19,652 2,950 7,540 £ 276,998 25,801 302,799	£ 23,297 2,000 6,455
				£ 257,154 28,243
				285,397

The average number of full time equivalent employees during the year was 8 (2022: 8) with all employees' time involved in providing either support to the governance of the charity or support services to charitable activities.

One employee had emoluments in excess of £60,000 ( 2022:None) .

In years 2022 and prior years the manager received his salary from Muslim World League of Makkah (MWLM).

In the current year , however, all employees received their salaries directly from the Charity. This step is taken by the Charity to reduce its dependence on Muslim World League of Makkah. No trustee received any remuneration during the year (2022:nil)

No trustee received any benefit in kind during the year (2022: nil)

No trustee received any reimbursement of expenses (2022: nil ).

12

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 Tangible fixed assets

Freehold Alteration Fixtures & Motor Computers Buildings Premises Fittings Vehicle Restricted Restricted Unrestricted Unrestricted Unrestricted £ £ £ £ £ Cost: At 01.01.2023 643,424 140,752 182,307 34,674 34,409 Additions - 24,530 795 - - Disposal - - - (34,674) - At 31.12.2023 643,424 165,282 183,102 0 34,409 Depreciation At 01.01.2023 231,609 31,942 160,033 23,703 34,354 Charge for the year 12,868 3,306 3,460 0 18 Disposal (23,703) At 31.12.2023 244,477 35,248 163,493 0 34,372 Net book value At 31.12.2023 398,947 130,034 19,609 0 37 At 31.12.2022 411,815 108,810 22,274 10,971 55 10 Investment : 2023 Investment at cost 200,000 The Charity invested £200,000 in the ordinary share capital of Portillion SPV1 Limited The company went into administration during the year and was bought by BSQ Holdings Ltd. 11 Debtors: amount falling due within one year Unrestricted Restricted Funds Funds Total 2023 £ £ £ Prepayments 2,680 - 2,680 - - 2,680 - 2,680 £ £ £ 12 Cash and Bank Balances 32,931 16,375 49,306 13 Creditors: amount falling due within one year £ £ £ Other creditors and accruals 71,667 - 71,667 Taxation & social security 9,386 - 9,386 81,053 - 81,053	Total £ 1,035,566 25,325 (34,674)
	1,026,217
	481,641 19,652 (23,703)
	477,590
	548,627
	553,925
	2022 -
	Total 2022 £ 2,130 -
	2,130
	£ 457,265
	£ 10,211 5,148
	15,359

13

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

14 Statement of funds

14 Statement of funds
Unrestricted funds Restricted funds Total funds	At 01.01.2023 Income Expenditure £ £ £ 477,596 353,994 (648,387) 520,365 82,887 (66,896) 997,961 436,881 (581,490)	At 31.12.2023 £ 183,204 536,356
		719,560

a: The restricted funds consist of freehold building and associated alterations to premises as well as relevant balances at the bank.

b: The unrestricted funds are available for the day to day running of the charity.

15 Related Party Transaction and Trustees' remuneration

No remuneration directly or indirectly out of the funds of the charity was paid or is payable to any trustees or to any person or persons known to be connected with any of them.

16: Post Balance Sheet Events

Development work of the residential flats which was planned to start in November 2023 has now been postponed until funds become available to ensure no interruption in work.

The Chief Executive Officer, Dr Ahmad Makhdoom, tendered his resignation during the year to 31 December 2022 to take up a post overseas.

His resignation was accepted to be effective from 1 January 2023 by the board of trustees who thanked him for his excellent service during the previous fourteen years.

Following his resignation, his duties were carried out by Sir Iqbal Sacranie OBE until a suitable candidate of Mr Muath Alamri who was appointed in May 2023.

Payments totalling £40,000 was paid to an employee of the Charity as a compensation for for termination of employments of which £10,000 was paid into the employee's pension fund.

14