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← Muslim World League London Office Trust

2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1172494 (England & Wales)

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

S.D. Garner + Co Limited Chartered Certified Accountants 92 Station Lane Hornchurch Essex RM12 6LX

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

CONTENTS OF THE ANNUAL REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 18
Detailed Statement of Financial Activities 19 to 20

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2024

TRUSTEES Sir I A K M Sacranie OBE Dr M A A Alissa (Chair) Dr H M A Mahdi Dr A A M AlZiad Dr M S Nojoum PRINCIPAL ADDRESS 46 Goodge Street London W1T 4LU REGISTERED CHARITY 1172494 (England & Wales) NUMBER INDEPENDENT EXAMINER Jamal Arshad S.D. Garner + Co Limited Chartered Certified Accountants 92 Station Lane Hornchurch Essex RM12 6LX SOLICITORS Khalid Sofi Lee Bolton Monier Williams 1 The Sanctuary Westminster London SW1P 3JT M H A Thompson - Barrister Wynne Chambers 5 Kimberley Road London NW6 7SG

CHIEF EXECUTIVE OFFICER Muath Alamri WEBSITE https://www.mwllo.org.uk

Page 1

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

a. Policies and Objectives

The Objects of the Charity are applicable primarily in the United Kingdom.

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 benefits both to those who worship at its Mosque and the wider community.

Significant activities

Daily worship, weekly lessons in Arabic and Qur’an, provision of information and knowledge about Islam to those who request it, occasional educational conferences, seminars and exhibitions on Islamic themes, including interfaith events, interaction with and assistance to UK based registered Islamic charitable institutions.

Public benefit

The board believe that the charity's activities advance for the spiritual and physical needs of all people. Our activities provide a means by which people of any faith, or none, can gain an awareness of Islamic faith and can gain support and assistance to deal with difficulties or pressures they may be facing in everyday life whether that be spiritual needs, health issues, educational requirements, family issues or personal problems. Our charitable activities bring us into contact with all the people in and around the communities where we are located and we provide guidance, assistance and comfort to all people irrespective of their social, economic, ethnic or religious background. The objective and activities and achievement section of this report has set out the activities which the Charity undertakes for the public benefit. The board of trustees confirms that it has complied with the duty in respect of section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the commission in determining the activities undertaken by the charity.

Page 2

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year, the Trust continued to make progress towards its strategic objectives of promoting community welfare, supporting education, and fostering social and interfaith harmony. This was achieved through a range of charitable and community-based activities, as outlined below.

1. Religious Services

The Trust continued to fulfil its religious objectives by facilitating daily and weekly congregational prayers, with a total attendance of approx. 3200 people weekly, as well as seasonal observances during Ramadan and the two Eid festivals. These activities provided spiritual support and helped to maintain a sense of belonging and unity among community members.

2. Charity and Financial Assistance

The Trust provided financial assistance to organisations and individuals within the UK whose needs and objectives aligned with its charitable purposes. This included support for those facing financial hardship due to the rising cost of living. All grants were made in accordance with the Trust's financial guidelines and internal governance policies to ensure transparency and accountability.

3. Community Services

i. The Trust worked collaboratively with a range of partners to deliver programmes and services benefiting different community groups, including youth, women, and individuals with additional needs (the hearing-impaired community). 65 activities included:

ii. Cultural and seasonal initiatives continued to be an essential part of the Trust's work. During Ramadan, daily meals were provided to those in need through the generous support of community donors, serving approximately 6,000 people during the month. The Trust also organised festival gatherings and family activities during school holiday periods, with over 35 events held throughout the year.

iii. Educational visits were welcomed throughout the year from local and national schools and universities, providing opportunities for learning and engagement around cultural and faith understanding.

4. Social Cohesion and Engagement

The Trust actively participated in initiatives that encourage interfaith collaboration, civic engagement, and stronger community relations. Through dialogue and shared activities, it continued to promote understanding, cooperation, and inclusivity across diverse community groups. Our social cohesion program aims to bring people together to combat hate and promote national citizenship around British values, without compromising the privacy of every religious group.

Page 3

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST DECEMBER 2024

FINANCIAL REVIEW

Financial position

As in every year, the majority of our income comes from the head office in Makkah. We received £504,283 (compared to £187,889 in 2023) in general donations and legacies from those supporters.

The total income for the year was £772,130 (2003: £436,882)

The total resources expended amounted to £936,691 (2023: £715,283)

The net deficit for the year amounted to £164,561 (2023: Net deficit £278,401).

The total accumulated reserves were £1,454,999 as at 31 December 2024 (2023: £1,619,560).

Prior year adjustments

Several prior year adjustments have been made to reflect a true and fair view of the financial statements.

The trustees have reviewed the restricted and unrestricted funds and decided that only the Zakat Fund constitutes a restricted fund. As a result, an adjustment of £561,276 has been made to reallocate part of the restricted funds to unrestricted funds. Consequently, the freehold property has been reclassified as unrestricted.

Furthermore, part of the freehold property which is being rented out as a pizza restaurant has been reclassified as Investment property on the balance sheet and reflected at its fair value of £1million. The historic cost was £100,000 and subsequently a revaluation gain of £900,000 has been accounted for.

The trustees have also reviewed the nature of the investment and consider that it was more appropriate to classify it as a fixed rather than a current asset.

Principal funding sources

The main sources of income are donations from the Muslim World league in Makkah, rental income from the pizza restaurant and general donations.

Investment policy and objectives

The investment of £200,000 in BSQ Holdings Ltd has resulted in a return of £50,000 during the year as a reduction in capital leaving a balance of £150,000 at the year end which the trustees consider to be the market value. The trustees are confident that the investment will appreciate in the long-term.

Reserves policy

Every year, the trustees seek to set aside sufficient reserves to ensure a balance between spending to meet the immediate needs of our operations and protecting our future work. This serves as having a buffer and allows time to adjust the charity to any unexpected operational challenges should there be a large reduction in the amount of income we receive. The trustees are aiming to maintain a reserve equivalent to 3 months working capital requirements.

Going concern

The trustees consider the charity to be a going concern. In making this assessment the trustees have considered the foreseeable future which is a period of not less than twelve months from the date of signing of the balance sheet.

FUTURE PLANS

The charity is committed to implementing its strategy for serving both Muslim and non-Muslim communities in the UK, adhering to British law, and ensuring the highest quality of service. The charity reviews regularly the operational strategy and conduct more activities for the public good.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

The board decides the appointment of new trustees. On appointment, new trustees sign a trustee declaration statement committing them to giving of their time and expertise. There is a formal induction programme for any newly appointed trustee, which includes an initial meeting with the CEO and the trustees.

Page 4

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

The trustees noted on page 1 all served from 1 January 2024 up to the date of signing of this report.

The trustees are responsible for the general control and management of the charity. The administration of the Charity is vested with CEO. The CEO deals with the day-to-day affairs of the charity. It carries out or executes the objects of the Charity as laid out in the trust's articles. The trustees meet at least once a quarter for discussions and consequential decisions are made on a simple majority basis on the Charity's matters.

At the trustees' meetings, the trustees agree the broad strategy and areas of activity for the Trust, including consideration of charitable activities, investments, reserves and risk management policies and performance.

The trustees give their time freely and receive no remuneration or other financial benefits.

INDEPENDENT EXAMINER

Jamal Arshad on behalf of SD Garner + Co, Chartered Certified Accountants, were appointed as Independent Examiners to the charity for the year ended 31 December 2024. In accordance with the Charities Act 2011, a resolution proposing that they be re-appointed for the year ended 31 December 2025 will be put to the Board of Trustees.

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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.

Page 5

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST DECEMBER 2024

TRUSTEES' RESPONSIBILITY STATEMENT - continued

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 trustees to prepare financial statements for each financial year, which provide an accurate and fair view of the charity's state of affairs, including its incoming resources and the application of resources for 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.

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, SORP and the provisions of the Trust Deed. They are also responsible for safeguarding the Charity's assets and to take reasonable steps to prevent and detect fraud and other irregularities.

Approved by order of the board of trustees on 8 December 2025 and signed on its behalf by:

........................................................................ Sir I A K M Sacranie OBE - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

Independent examiner's report to the trustees of Muslim World League London Office Trust

I report to the charity trustees on my examination of the financial statements of Muslim World League London Office Trust (the charity) for the year ended 31st December 2024 which comprises the Statement of Financial Activities, the Balance Sheet, the cash flow statement and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed

Responsibilities and basis of report

As the charity trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

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

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the financial statements do not accord with those records; or

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

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

Q Avahad

Jamal Arshad, FCCA

S.D. Garner + Co Limited Chartered Certified Accountants 92 Station Lane Hornchurch Essex RM12 6LX

Date: 8 December 2025

Page 7

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

Notes
INCOME FROM
Donations and legacies
2
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Charitable activities
Other direct costs
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
615,580
150,088
-
765,668
566
501,671
433,927
936,164
(170,496)
1,615,990
1,445,494		 Restricted
fund
£
6,462
-
-
6,462
527
-
-
527
5,935
3,570
9,505		 2024
Total
funds
£
622,042
150,088
-
772,130
1,093
501,671
433,927
936,691
(164,561)
1,619,560
1,454,999		 2023
As restated
Total
funds
£
270,776
150,077
16,029
436,882
-
229,951
485,332
715,283
(278,401)
1,897,961
1,619,560

The notes form part of these financial statements

Page 8

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

BALANCE SHEET 31ST DECEMBER 2024

2024 2023
As restated
Unrestricted Restricted Total Total
fund fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 11 435,667 - 435,667 448,627
Investments
Investments 12 150,000 - 150,000 200,000
Investment property 13 1,000,000 - 1,000,000 1,000,000
1,585,667 - 1,585,667 1,648,627
CURRENT ASSETS
Debtors 14 2,605 - 2,605 2,680
Cash at bank 4,345 9,505 13,850 49,306
6,950 9,505 16,455 51,986
CREDITORS
Amounts falling due within one year 15 (147,123) - (147,123) (81,053)
NET CURRENT ASSETS (140,173) 9,505 (130,668) (29,067)
TOTAL ASSETS LESS CURRENT
LIABILITIES 1,445,494 9,505 1,454,999 1,619,560
NET ASSETS 1,445,494 9,505 1,454,999 1,619,560
FUNDS 16
Unrestricted funds 1,445,494 1,615,990
Restricted funds 9,505 3,570
TOTAL FUNDS 1,454,999 1,619,560

The financial statements were approved by the Board of Trustees and authorised for issue on 8 December 2025 and were signed on its behalf by:

.............................................

Sir I A K M Sacranie OBE - Trustee

The notes form part of these financial statements

Page 9

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
Notes
£
Cash flows from operating activities
Cash generated from operations
1
(85,428)
Finance costs paid
(28)
Net cash used in operating activities
(85,456)
Cash flows from investing activities
Purchase of tangible fixed assets
-
Purchase of fixed asset investments
-
Sale of tangible fixed assets
-
Sale of fixed asset investments
50,000
Net cash provided by/(used in) investing activities
50,000
Change in cash and cash equivalents in
the reporting period
(35,456)
Cash and cash equivalents at the
beginning of the reporting period
49,306
Cash and cash equivalents at the end of
the reporting period
13,850		 2023
£
(209,634)
-
(209,634)
(25,325)
(200,000)
27,000
-
(198,325)
(407,959)
457,265
49,306

The notes form part of these financial statements

Page 10

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST DECEMBER 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Finance costs
Decrease/(increase) in debtors
Increase in creditors
Net cash used in operations		 2024
£
(164,561)
12,960
-
28
75
66,070
(85,428)		 2023
£
(278,401)
19,652
(16,029)
-
(550)
65,694
(209,634)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24 Cash flow At 31/12/24
£ £ £
Net cash
Cash at bank 49,306 (35,456) 13,850
49,306 (35,456) 13,850
Total 49,306 (35,456) 13,850

The notes form part of these financial statements

Page 11

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with: the charity’s governing document, the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at their fair value

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed

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
Land not depreciated

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. Fair value is determined by the trustees based on the results of periodic external valuations, property indexations, and observed local property transactions.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 12

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

2. DONATIONS AND LEGACIES

Donations from MWLM
Sadaqa donations received
Masjid donations received
Zakat donations received
3.
INVESTMENT INCOME
Rental income
Return on investment
4.
RAISING FUNDS
Other trading activities
Merchant fees
5.
CHARITABLE ACTIVITIES COSTS
Charitable activities
6.
GRANTS PAYABLE
Charitable activities		 Direct
Costs
£
450,618		 Grant
funding of
activities
(see note
6)
£
20,342		 2024
£
504,283
49,061
62,236
6,462
622,042
2024
£
150,000
88
150,088
2024
£
1,093
Support
costs (see
note 7)
£
30,711
2024
£
20,342		 2023
£
187,889
60,227
22,660
-
270,776
2023
£
150,000
77
150,077
2023
£
-
Totals
£
501,671
2023
£
48,968

continued...

Page 13

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

7. SUPPORT COSTS

SUPPORT COSTS
Governance
Finance
Other
costs
£
£
£
Other resources expended
28
-
-
Charitable activities
26
6,054
24,631
54
6,054
24,631
ncluded in governance costs are:
2024
£
Independent Examiners’ Fees
2,400
Fees incurred for the Examiner in relation to the production of the annual report
3,000		 Totals
£
28
30,711
30,739
2023
£
2,500
7,990

Included in governance costs are:

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin		 2024
£
309,712
27,980
6,319
344,011
2024
7		 2023
£
276,998
25,801
5,603
308,402
2023
7
The number of employees whose employee benefits (excluding employer pension costs) exceeded The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2024 2023
£60,001 - £70,000 - 1
£100,001 - £110,000 1 -
1 1

continued...

Page 14

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES(RESTATED)
Unrestricted
Restricted
fund
fund
£
£
INCOME FROM:
Donations and legacies
270,776
-
Investment income
150,077
-
Other income
16,029
-
Total
436,882
-
EXPENDITURE ON
Charitable activities
Charitable activities
229,951
-
Other
485,332
-
Total
715,283
-
NET (EXPENDITURE)
(278,401)
-
RECONCILIATION OF FUNDS
Total funds brought forward
1,894,391
3,570
TOTAL FUNDS CARRIED FORWARD
1,615,990
3,570
11.
TANGIBLE FIXED ASSETS
(Restated)
Alteration
Fixtures
Freehold
to
and
Computer
buildings
Premises
fittings
equipment
£
£
£
£
COST
At 1st January 2024 and
31st December 2024
543,424
165,282
183,102
34,409
DEPRECIATION
At 1st January 2024
244,478
35,247
163,493
34,372
Charge for year
6,700
3,306
2,942
12
At 31st December 2024
251,178
38,553
166,435
34,384
NET BOOK VALUE
At 31st December 2024
292,246
126,729
16,667
25
At 31st December 2023
298,946
130,035
19,609
37		 Total
funds
£
270,776
150,077
16,029
436,882
229,951
485,332
715,283
(278,401)
1,897,961
1,619,560
Totals
926,217
477,590
12,960
490,550
435,667
448,627

continued...

Page 15

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

12. FIXED ASSET INVESTMENTS

FAIR VALUE
At 1st January 2024 (Restated)
Disposals
At 31st December 2024
NET BOOK VALUE
At 31st December 2024
At 31st December 2023 (Restated)
There were no investment assets outside the UK.
13.
INVESTMENT PROPERTY
FAIR VALUE
At 1st January 2024 (Restated)
and 31st December 2024
NET BOOK VALUE
At 31st December 2024
At 31st December 2023 (Restated)		 Unlisted
investments
£
200,000
(50,000)
150,000
150,000
200,000
£
1,000,000
1,000,000
1,000,000

The trustees have revalued the investment property as a prior year adjustment and shown it at fair value of £1m.

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security
Other creditors		 2024
£
2,605
2024
£
8,808
138,315
147,123		 2023
£
2,680
2023
£
9,386
71,667
81,053

continued...

Page 16

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Zakat Fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Zakat Fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Zakat Fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are a
Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/24
(Restated)
£
1,615,990
3,570
1,619,560
Incoming
resources
£
765,668
6,462
772,130
At 1/1/23
As restated
£
1,894,391
3,570
1,897,961
s follows:
Incoming
resources
£
436,882
436,882		 Net
movement
in funds
£
(170,496)
5,935
(164,561)
Resources
expended
£
(936,164)
(527)
(936,691)
Net
movement
in funds
£
(278,401)
-
(278,401)
Resources
expended
£
(715,283)
(715,283)		 At
31/12/24
£
1,445,494
9,505
1,454,999
Movement
in funds
£
(170,496)
5,935
(164,561)
At
31/12/23
As restated
£
1,615,990
3,570
1,619,560
Movement
in funds
£
(278,401)
(278,401)

continued...

Page 17

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Zakat Fund
TOTAL FUNDS		 At 1/1/23
(as restated)
£
1,894,391
3,570
1,897,961		 Net
movement
in funds
(as restated)
£
(448,897)
5,935
(442,962)		 At
31/12/24
£
1,445,494
9,505
1,454,999

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
(as restated) (as restated)
£ £ £
Unrestricted funds
General fund 1,202,550 (1,651,447) (448,897)
Restricted funds
Zakat Fund 6,462 (527) 5,935
TOTAL FUNDS 1,209,012 (1,651,974) (442,962)

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2024 or 31 December 2023.

18. PRIOR YEAR ADJUSTMENT

The following prior year adjustments have been made:

  1. A prior year adjustment of £100,000 has been made in respect of reallocating the historic cost for the investment property from Tangible assets to Investment property on the balance sheet. The investment property was then revalued to reflect the fair value of £1million. Therefore, a revaluation gain of £900,000 has been adjusted for. Both adjustments had been omitted.

  2. The freehold property has been reclassified as unrestricted as it was incorrectly recorded as restricted.

  3. A prior year adjustment of reallocation of the restricted funds of £561,276 to unrestricted funds as a correction.

  4. A prior year adjustment of reallocating the £200,000 investment from Current Assets to Fixed Assets as a correction as the investment is considered long-term.

Page 18

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

INCOME
Donations and legacies
Donations from MWLM
Sadaqa donations received
Masjid donations received
Zakat donations received
Investment income
Rental income
Return on investment
Other income
Gain on sale of tangible fixed assets
Total incoming resources
EXPENDITURE
Other trading activities
Merchant fees
Charitable activities
Travelling and motor expenses
Insurance
Premises Costs
Telephone
Postage and stationery
Sponsorships
Catering for Ramadan (fasting month) and other
events
Charitable activities
Imam fees & expenses
Depreciation of Freehold property
Depreciation of alteration to premises
Depreciation of Fixtures & fittings
Depreciation of Computer equipment
Donations
Other
Wages
Social security
Pensions
Carried forward		 2024
£
504,283
49,061
62,236
6,462
622,042
150,000
88
150,088
-
772,130
1,093
7,930
9,177
79,616
4,390
1,076
-
255
266,214
69,000
6,700
3,306
2,942
12
20,342
470,960
309,712
27,980
6,319
344,011		 2023
£
187,889
60,227
22,660
-
270,776
150,000
77
150,077
16,029
436,882
-
9,673
8,712
42,684
5,347
3,042
2,160
-
-
-
12,868
3,306
3,460
18
48,968
140,238
276,998
25,801
5,603
308,402

This page does not form part of the statutory financial statements

Page 19

MUSLIM WORLD LEAGUE LONDON OFFICE TRUST

Other
Brought forward
Repairs & maintenance
Security charges
Training and welfare
Redundancy payment
Support costs
Finance
Bank charges
Interest on late payment
Other
Sundries
Governance costs
Legal & Professional fees
Independent Examination
Accountancy fees
Total resources expended
Net expenditure		 DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024

fee		 2024
£
344,011
36,761
50,230
2,897
-
433,899
26
28
54
6,054
14,302
2,400
7,929
24,631
936,691
(164,561)		 2023
£
308,402
39,525
92,960
4,445
40,000
485,332
10
-
10
29
79,184
2,500
7,990
89,674
715,283
(278,401)

fee

This page does not form part of the statutory financial statements

Page 20