Whitethread Institute
Report and Accounts
Period ended 31st July 2021
Charity number: 1172677

Whitethread Institute
Period pndnd ?• lil!., ?n?I
Contents
Reference and AdministratNe details....................-.......-...............................
Trustees. Report............-.................
Independent Examinerfs Report... .......
Statement of Financial Activities.
Balance Sheet....
Statement of Cash Flows....................................................... ..
-10
Notes to the Accounts .............. ... .
.11
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Whitethread Institute
Pprjn
Ao4 21 lillli. ?n?I
Reference and Administrative details
Charlty name
Whttethread Instr(ute
Re8iStered charity Trumber
1172677
Principal office addres5
329-333 High street
Stratford
London
EIS 2TF
Chairperson
A Mangera
Trustee5
A Mangera
M Batha
M Mangera
R Esakjee
Banker5
Unity Trust Bank
Nine Brindleyplace
Birmingham
812HB
Independent Examiner
SK Accountants
Old Poplar Library
45 Gillender st￿et
Poplar
E14 6RN
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Whitethread Institute
Ap4 31 1.,1 ?n?I
Trustees. Report
The trustees have pleasure in p￿Senting their report and the financial statements for the charity for
the period ended 31" July 2021.
The truslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities p￿parIng their account5 in accordance with the
Financial Reportiri8 5t3nd8rd applicable in the UK and Republic of I￿land IFRS 1021 (effective I january
20151.
The trustees have considered the Charity CommisS￿n'S gUIdan￿ on public benefit. including the
guidance'public beneftt.. runnlng a charity IPB21'.
The Trustees present their report and the financial Statements for the perwjd ended 31" July 2021.
The Trustees who Served during the period and up to the date of thi5 report are set out ot) page 3.
Strurture. Governance and Management
The Charity is constilLSted as a Charttable Incorporated Organisation ICIOI Foundation, as a body
corporate under Part 11 of the Charities Act 2011 on 21April 2017. The CIO registered with the Charity
Commission on the same dav.
Objectives and Artivities
To advance the ￿lIgIon of Islam for the public benefrt in accordan￿ with the beliets and practices of
the four recognized Sunni schools of thought, including the provision of education and training of
Muslim leaders and scholars to work in the United Kingdom and elsewhere,. and through this to
promote and advance religious and racial harrTKJny within the United Kingdom.
hievements and PerfomHnce
Whitethread Instttute continued its strong academic perforniance in the fourth year, running eight
full-year programs and adding several short courses. As a result, the institute's reputation continued
to grow. attracting students woddwide. The faculty remained committed to providing high-quality
education, and the staff worked hard to ensure that all students had access to the resources they
needed.
The number of students enrolled on our courses contlnues to increase. We now have a total
enrollment count above 125 full-time learners and 547 short course participants! This semester, the
most popular subject was Mastering the Fiqh of Menstruation. In addition. over 380 people signed
up for the Introdurtion To A Two Year Islamic Knowledge Seminar, which was also highly rated by all
who attended.
Our student body is a truty global community, representing twenty-eight countries. Many of our
students benefit from our courses online, which allow them to study from anywhere in the world.
Our courses are designed to provide an education that is aC￿sible, flexible. and of the h4ghest
quality. We are proud to offer a learning experience tailored to the needs of our diverse student
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Whitethread Institute
31 lull4 2921
body. Our students tome from various backgrounds. and each bring5 their unique perspective to our
community. As a resu￿. we prepare our students for success in an increasingly connected world.
Financial Review
The Chaiity started with £267,376 of which £1.570 was restrKted funds for S￿)nSoring Students. The
fourth year of the Institute's courses started in September 2020 in line with the UK academic school
year. Approximately £39.Cl)O were raised through donations in the 12 months to 31" july 2021. and
around £I37,c￿ came through course fees. The restricted funds were used to sponsor student fees
for those who were eligible for the institute's sponsorship policy.
Income for the 12 month period to 31" July 2021 amounted to £175.973 and expenditure arnounted
to £83,032, which resulted in a surplus of £92,941.
Reserves Policv
Per the Charity Commission Buidance. the Trustees regularly review the level of income reserves that
it considers appropriate. At 31" Juty 2021. the Trustees consider it appropriate to aim to hold
unrestricted reserve5 eouNalent to three months. core operational running costs which are in the
region of £21,(￿. The unrestricted reserves at 31 ju￿ 2021 amounted to £360.316.
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Whitethread Institute
Statement of Trustees. Responsibilities
The Trustees are responsible for preparing the Trustees. Annual Report and the financial statements
in accordance with applicable law and Unrted Kingdom Accounting Standards IUnite(l Kingdom
Generally Accepted Accounting Prarticel-
Law applicable to charities in England and Wales requires the trustees to prepare financial statements
for each financial year, which give a true and fair view of Chartty and of the incoming resources and
application of resources of the Charrty for that year.
In preparin8 these financial statements the Trustees a￿ required to-.
selert suitable accounting policies and then appfy them consistently-
observe the methods and principles in ihe Charities SORP..
make judgments and estimates that are reasonable and prudent-
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basi5 unle55 it is inapproprlate to
presume that the charrty will continue in operation.
The trustees are re5p)n5ible for keeping proper accounting records which disck)se wfrth reasonable
accuracy at any time the financial position of the chanty and enable them to ensLbre that the financial
statements cornp￿ with the charit￿ Art 1993 and the Charity (Accounts and Re￿rts) Regulations
2(KJ8.
They are also responsible for safeBuarding the assets of the charity and hence for takTrn8 reasonable
steps for the prevention and detertion of fraud and other.
Approved by the trustees and signed on its behaw by
Date:
DrAbdur-Rahman Mangera
Chairperson, Board of Trustees
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Whitethread Institute
Dpriod epded 31 Julii ?n?1
Independent Examinerfs Report
To the trustees of Whitethread Institute
I report on the accounts of the above charitable incorporatetl organisatM)n for the period ended 31
July 2021, which are set out on pages 8 to 15.
Respecllve responslbillties of trustees and examiner
The charitys trustees are responsible for the p￿paratiOn of the accounts in accordance with the
requirements of the Chartties Art 20111~the Arfl.
The Charity's trustees consider that an audit 15 not required for this perbod under section 144 of the
Act and that an independent examination is needed.
It is my responsibility to-
examine the accounts under section 145 of the Chartties Act.
to follow applicable Dirertions 8r¥en by the Charity Commission (under section 14515llbl of
the Act, and
To state whether parttcular matters have come to my attention.
Basis of independent examDnerfs statement
My examination was carried out in accordance with general Directions given by the Charity
Commission. An examination include5 a review of the accounting records kept by the charity and a
compafison of the accounts presented with those records. It also includes consideration of any
unusual item5 or disc105ure5 in the accounts, and seeking explanations from the triistee5 concerning
any such matters. The procedures undertaken do not provide all the evidence that would be required
in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf
view and the report is lirnited to those matters set out tn the statemerrt below.
Independent examiner's Statement
In connection with my examination, no material Matte￿ have come to my attention which gives me
cause to believe that in, aoy material respect=
accounling retords were not kept in accordance wfth seciion 130 of the Charities Act or
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in order to enable a proper understanding of the accounts to be
reached.
Date-
SK Accountants
Address: Old Poptar Library. 45 Gillender St. Poplar, E14 6RN
Page 7 of 15

Whitethread Institute
-Y4 pniqpcl 3; ,Iilv ?n7•
Statement of Financial Activities
Period Ended 31 July 2021
Unre5trirted Restricted
nds
funds
2021
Totsl funds
2020
Total funds
Notes
Incomlng resources
Donations and legacies
Charitable actNities
38,889
137,084
38,889
137,084
87,372
116,999
Total Incomlng resource5
175.973
175.973
204,371
Resources expended
Charitable activities
181.4621
11,5701
183,0321
180,6551
Total Resources expended
181,4621
115701
183,032}
180,6551
Net incomellexpenditure)
94511
115701
92,941
123,716
Net movement in funds
94.511
{1.5701
92.941
123,716
Re¢oncilirtion offvnds..
Total funds brought forward
265.806
1.570
267.376
143,660
Total funds carr￿d forward
360.317
360.317
267,376
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Whitethread Institute
Pericd er..cled 31 Jti i. ?n?1
Balance Sheet
As at 31 July 2021
Unre5trirted Restrfrted
funds
funds
2021
Total funds
2020
Total funds
Notes
Current assets
Cash at bank and in hand
364.483
364,483
269,857
Totol Current ossets
364.483
364.483
269,857
Credltors: amounts falling
due within one year
14,1671
14,1671
12.4811
Net current as5ets/(liabilitiesJ
360.316
360,316
267.376
Totol assets less current
liabilities
3fAI,316
360.316
267,376
Creditors: amounts falllng
due after one year
Total net assets or liatr"lities
360.316
360,316
267,376
Funds of the Charlty
Restricted income funds
Unrestrirted funds
io
1,570
265,806
3FiJ.316
360,316
Totalfvnd5
360.316
360,316
267,376
The financial statements were approved and authorised for issue by the Board and signed on its behalf
by:
Date..
DrAbdur-Rahman Mangera
Chalrperson, Board of Twstees
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Whitethread Institute
Prr',r4 p*4p4 31 1 1
uv2024
Statement of Cash Flows
2021
2020
Cash flows from operating artivftles:
Net ¥novement in funds
Less decrease in creditof5
92,941
1,685
123,716
19561
Net cash flow of operating artivities
94.626
122,760
Change in cash and cash equlvalents in the year
94.626
122.760
Cash and Cash equivalents brought forward
269,857
147.097
Total cash and cash equivalents at the end of the year
364.483
269,857
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Whitethread Institute
4 r+yAv4A 31 1?J!1, 7021
Notes to the Accounts
l. Accounting Policies
The principal accounting ￿lIcIeS adopted. judgements and key sources of estimation uncertainty in
the preparatbon of the financial statements are as follows-
Basls of preparation IFRS1021
The financial statements have been prepared in accordance WTth Accounting antl Reporting by
charities.. Statement of Recommended Practice applicable to charit￿5 preparing their accounts in
accordance with the Financial ReFOrtrng Standard applicable in the UK and Republic of Ireland IFRS
1021 leffectNe l January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Whitethread Institute meets the definition of a public benefit entrty under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unie5S Otherwise stated in the
relevant accounting policy notel51.
I ncome
Income is recognised when the charity has entrtlement to the funds. any performance conditions
attached to the itemlsl of income have been met. rt is probable that the income will be received. and
the amount can be measured reliably.
Income, whether 'capital' grants or 'revenue' grants. is reco@nised when the charity has
entitlement to the fynds. any perforniance conditions attached to the grants have been met. it is
probable that the income will ￿ receNed. and the amount can be measured reliably and is not
deferred.
Income re￿Ned in athan￿ of a proRrt or provision of other specIf￿d service 15 deferred until
the criteria for income recognition are met.
Donated services and facilities
Donated professional seNices and donated facilities are recognised as income when the charity has
control over the item, any conditions associated with the donated item have been met, the receipt of
economic benefit from the use by the charity of the item is probable and that economic benefil can
be measured reliably.
On receipt, donated professional servKes and donated facilities a￿ recognised based on the value of
the gift to the charity which isthe amount the charity would have been willingto payto obtain se1vi￿S
orfacilrties of eqLbiva￿nI economic benefrt on open market.
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Whitethread Institute
Fund accountin8
Un￿Str[cted funds a￿ available to spend on aLtwit￿$ that further any of the purFoses of tharity.
Designated funds are UN￿$tritted funds of the charFty whKh
the TrL¢Stees have decKled to Set a5idÈ to use for a purF*)5e. Re5trnte(I funds a￿ donations
which the donor has specified are to be solety used for areas of the charWs work or for specific
proiects being undertaken by the chartty.
Expenditure
Expenditure is reco8nised once there is a legal orconstructive obligation to make a payment to a third
party* It is probable that settlement will be required, and the amount of the obligation can be
measured reliably.
Ir￿coVerable VAT is charged as a cost against the activity for whKh the expenditure was
incurred.
Allocation of Support ¢osts
Support costs are those funcliofis that assist the work of the charity but do not directly undertake
charitable activities. Sijpport costs include back office costs, finance. personnel. payroll and
governance costs which support the charity's artistic programmes and activities. Support costs have
been allocated in prow>rtion to expenditure incurred in undertakirvd an actsvity.
Tangible f ixed assets
Individual fixed assets costing £5LXJ or more are capitalised at cost and are depreciated over their
estimated useful economic INes on a reducFng balance basis as follows:
Asset Category
Annual rate
fixtu￿$. Fittings and ElectrKal equipment
Debtor5
Trade and other debtors are reCOgn￿ed at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and ifi hand
Cash at bank and cash in hand includes cash and amounts in de￿)sIt accoijnts.
Creditors and provlsions
Credf(ors and provisions are recognised where the charity has a p￿sent oblgation resulting from a
past event thal will probab￿ resutt in the transfer of funds to a third party and the amount due to
settle the obligation can be measured or estimated reliabty. Creditors and provision5 are normalty
recognised at their settlement amount after albwingfor any trade discounts due.
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Whitethread Institute
P£.rTf,d
2. Analysis of Incoming Resource5
Restrfrted
fvnds
2021
Totsl fvnds
2020
Total
funds
fund5
Donations and legacie5
Charitable activities
38,889
137.084
175.973
38,889
137,084
175.973
87,372
116,999
204,371
Total
3. Analysls of Resources expended
Oth•r
Support
2021
Total
2020
Total
Charltable actlvitles
ActNrties undertaken directly"
35.592
2,206
45,234
83.032
80,655
Total
35,592
2,206
45,234
83,032
80,655
4. Analysis of staff costs. Charity remuneration and expenses. and key management
personnel.
2021
2020
Salaries and Staff Wages.
Social Security Costs
Total
35.592
33.797
15231
35,592
33.274
No ernployee5 had employee benefits more than £60,CKKI
The charity trustees were not paid or received any other benefrts from employment Wlth the tharity,
neither were they reimbursed expenses during the pertod. No other charity ￿¢eNed payment for
professional or other services supplied to the charity.
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Whitethread Institute
5. Staff Numbers
The average monthty head count was 4 staff and the average monthly number of full-time equivalent
employee5 (including casual and part-time staffl duri￿ the period were as follows=
2021
2020
Charitable Activities
6. Related Party Tran5artions
Neither the Trustees nor any persons connected with them recerved any remuneration, benefits in
kind from the Charity during the period. During the perM)d under review. no trustees receNed
reimbursement of travelling expenses.
7. Corporation Taxation
The charity 15 exempt from corporation tsxon its income and gains to the extent that t￿e are applied
to its charitable objectives.
8. Cash at Bank and in Hand
2021
2020
Cash at Bank
Cash in Hand
362.266
2.217
269.434
423
Total
269,857
9. Creditors: amounts falling due within one year
2021
2020
Net Wages
Social Security Taxes
4,025
142
2,446
35
Totsl
4.167
2,481
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Whitethread Institute
A ?* Ib'lii ?021
10. Charity Funds
2020
Balan¢e
BIF
2021
Balance
CIF
Income
Expendlture
Transfers
Fund names
Zakaat
Restrirted
General Fund Unrestricted
1,570
265,806
11.5701
181.4621
175,973
360.317
Total Funds
267.376
175.973
183.032)
360,317
2019
8alance
BIF
2020
Balance
CIF
Income
ExpenditUTe
Transfers
Fund names
Zakaat
Restrirted
General Fund Unrestricted
2.276
141.834
8.587
195.784
19.2931
171.3621
1,570
265,806
Totsl Fund5
143.660
204.371
180,6551
267.376
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