Charity registration number: 1172677
WHITETHREAD INSTITUTE TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
SKZ Chartered Certified Accountants Chartered Certified Accountants Unit 1,Kataria Point, 1 Riches Road, Ilford Essex IG1 1JH
Whitethread Institute Contents
| Page | |
|---|---|
| Trustees' Report | 1—2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6—9 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities | 10 |
Whitethread Institute
Trustees' Report For The Year Ended 31 July 2025
The trustees present their report and the financial statements for the year ended 31 July 2025.
Objectives and Activities
Aims and Objectives
OBJECTS AND AIMS
To advance the religion of Islam for the public benefit in accordance with the beliefs 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 harmony within the United Kingdom.
Achievements and Performance
Whitethread Institute continued its strong academic performance in the sixth year, running eight full-year programs and adding several short courses. This year’s intake from the previous year levelled from the previous year which we have previously seen year on year increase. 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.
Whitethread Institute broadened our selection of short courses by introducing courses to Rayyan courses subscription. Students enrolled in the subscription had access to more courses than originally enrolled onto.
Whitethread Institute acquired a new premises which is in the process of planning and construction works. The project is expected to be completed for late 2024, where Whitethread Institute will move its full operation, operating from the new premises in time for the new Academic year.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed the risk that charity faces and are satisfied that systems are in place to manage the risks that have been identified. In particular, insurance cover is in place and finances of the charity are kept under review. Appropriate DBS checks are made for all those who work with children or vulnerable adults
Reference and Administrative Details
Trustees
Mr ABDUR-RAHMAN MANGERA - Chair Mr MOHMAD SHOEB MANGERA - Trustee Mr MOHAMMED YAHYA BATHA - Trustee Mr RASHIDA ESAKJEE - Trustee
Charity Number
1172677
Principal Address
329-333 High Street Stratford London E15 2TF
Independent Examiner
Syed Kashif Zafar SKZ Chartered Certified Accountants Chartered Certified Accountants Unit 1,Kataria Point, 1 Riches Road, Ilford Essex IG1 1JH
Page 1
Whitethread Institute Trustees' Report (continued) For The Year Ended 31 July 2025
Statement of Trustees' Responsibilities
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 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 application of resources of the charity for that period. In preparing the financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charity and to enable them to ensure that the accounts 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr MOHMAD SHOEB MANGERA
Trustee 21/05/2026
Page 2
Whitethread Institute Independent Examiner's Report to the Trustees of Whitethread Institute For The Year Ended 31 July 2025
I report to the trustees on my examination of the accounts of Whitethread Institute (the Trust) for the year ended 31 July 2025.
Responsibilities and Basis of Report
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5) (b) of the 2011 Act); and
to state whether particular matters have come to my attention.
BASIS OF THE INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees 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 fair view ' and the report is limited to those matters set out in the statements below.
Independent Examiner's Statement
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
Which gives me reasonable cause to believe that in any material respect the requirements:
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•to keep accounting records in accordance with section 130 of the 2011 Act and
•to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Syed Kashif Zafar FCCA
Syed Kashif Zafar 28/04/2026 Unit 1,Kataria Point, 1 Riches Road, Ilford Essex IG1 1JH
Page 3
Whitethread Institute Statement of Financial Activities For The Year Ended 31 July 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities: Trading Activities EXPENDITURE ON: Raising funds 4 Charitable activities: 4 NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12 |
2025 Unrestricted funds £ 180,492 188,228 |
2024 Unrestricted funds £ 43,848 208,705 |
|---|---|---|
| 368,720 | 252,553 | |
| (134,561) | (114,602) | |
| 234,159 | 137,951 | |
| 234,159 719,081 |
137,951 581,130 |
|
| 953,240 | 719,081 |
The notes on pages 6 to 9 form part of these financial statements.
Page 4
Whitethread Institute Statement of Financial Position As At 31 July 2025
| Notes FIXED ASSETS Tangible Assets 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 10 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 11 NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 12 |
2025 Unrestricted funds £ 1,307,622 |
2024 Total funds £ 1,108,108 |
|---|---|---|
| 1,307,622 5,271 441,553 |
1,108,108 4,998 410,680 |
|
| 446,824 (1,206) |
415,678 (4,705) |
|
| 445,618 | 410,973 | |
| 1,753,240 | 1,519,081 | |
| (800,000) | (800,000) | |
| 953,240 | 719,081 | |
| 953,240 | 719,081 | |
| 953,240 | 719,081 |
On behalf of the board
Mr MOHMAD SHOEB MANGERA
Trustee 21/05/2026
The notes on pages 6 to 9 form part of these financial statements.
Page 5
Whitethread Institute Notes to the Financial Statements For The Year Ended 31 July 2025
1. General Information
Whitethread Institute is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1172677. The principal address is 329-333 High Street Stratford , London, E15 2TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with 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.
2.2. Incoming Resources
INCOME AND ENDOWMENTS
All income is recognized once the charity has entitled to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
2.3. Resources Expended
EXPENDITURE
All expenditure is recognized once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure headings, that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs
CHARITABLE ACTIVITIES
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
2.4. Tangible Fixed Assets and Depreciation
Freehold properties are initially recorded at cost, and subsequently stated at fair value less accumulated impairment losses.
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 recognized in other recognized gains and losses, unless it reverses a charge for impairment that has previously been recognized as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognized in other recognized gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognized gains and losses on the statement of financial activities.
Freehold
No Depreciation
2.5. Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 6
Whitethread Institute Notes to the Financial Statements (continued) For The Year Ended 31 July 2025
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.
2.7. Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
3. Income from Donations and Legacies
| 3. Income from Donations and Legacies |
|||
|---|---|---|---|
| Donations and gifts 4. Analysis of Expenditure Raising funds Raising funds 5. Support Costs Employee costs Premises expenses General administration Governance costs |
Activities undertaken directly £ 1,166 |
2025 Unrestricted funds £ 180,492 |
2024 Unrestricted funds £ 43,848 |
| Support costs (see note 5) £ 133,395 |
2025 Total £ 134,561 |
||
| 2024 Support costs (see note 5) £ 114,602 |
|||
| 2025 Raising funds £ 55,510 29,582 47,283 1,020 |
|||
| 133,395 |
Page 7
Whitethread Institute Notes to the Financial Statements (continued) For The Year Ended 31 July 2025
| Employee costs Premises expenses General administration Interest payable Governance costs 6. Staff Costs Staff costs were as follows: 2025 £ Wages and salaries 55,510 |
2024 Raising funds £ 54,096 28,287 31,308 11 900 |
|---|---|
| 114,602 | |
| 2024 £ 54,057 |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
7. Average Number of Employees
Average number of employees during the year was: 14 (2024: )
8. Tangible Assets
| Cost As at 1 August 2024 Additions As at 31 July 2025 Net Book Value As at 31 July 2025 As at 1 August 2024 . Debtors Due within one year Trade debtors Other debtors |
2025 £ 4,998 273 5,271 |
Land & Property Freehold £ 1,108,108 199,514 |
|---|---|---|
| 1,307,622 | ||
| 1,307,622 | ||
| 1,108,108 | ||
| 2024 £ 4,998 - |
||
| 4,998 |
9. Debtors
Page 8
Whitethread Institute Notes to the Financial Statements (continued) For The Year Ended 31 July 2025
10. Creditors: Amounts Falling Due Within One Year
| Other creditors Accruals and deferred income 11. Creditors: Amounts Falling Due After More Than One Year Other creditors 12. Movement in Funds As at 1 August 2024 £ Unrestricted funds General: General unrestricted fund 719,081 Total funds 719,081 As at 1 August 2023 £ Unrestricted funds General: General unrestricted fund 581,130 Total funds 581,130 |
Other creditors Accruals and deferred income 11. Creditors: Amounts Falling Due After More Than One Year Other creditors 12. Movement in Funds As at 1 August 2024 £ Unrestricted funds General: General unrestricted fund 719,081 Total funds 719,081 As at 1 August 2023 £ Unrestricted funds General: General unrestricted fund 581,130 Total funds 581,130 |
Income £ 368,720 |
2025 £ 186 1,020 1,206 2025 £ 800,000 Expenditure £ (134,561) |
2024 £ 3,805 900 |
|
|---|---|---|---|---|---|
| 4,705 | |||||
| 2024 £ 800,000 |
|||||
| As at 31 July 2025 £ 953,240 |
|||||
| 719,081 | 368,720 | (134,561) | 953,240 | ||
| As at 1 August 2023 £ 581,130 |
Income £ 252,553 |
Expenditure £ (114,602) |
As at 31 July 2024 £ 719,081 |
||
| 581,130 | 252,553 | (114,602) | 719,081 |
13. Transactions with Trustees
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
| 2025 | 2024 |
|---|---|
| £ | £ |
14. Related Party Disclosures
Page 9
Whitethread Institute Detailed Statement of Financial Activities For The Year Ended 31 July 2025
| INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and gifts Charitable Activities: Trading Activities Income from charitable activities EXPENDITURE ON: Raising funds Educational Grants Wages and salaries Travel expenses Rent Rates Light and heat Water rates Premises insurance Printing, postage and stationery Legal fees Consultancy fees Subscriptions Bank charges Other office costs Foreign exchange charges Accountancy fee NET INCOME |
2025 Total funds £ 180,492 |
2024 Total funds £ 43,848 |
|---|---|---|
| 180,492 188,228 |
43,848 208,705 |
|
| 188,228 | 208,705 | |
| 368,720 (1,166) (55,510) - (26,000) (1,861) (1,012) (330) (379) - - (35,662) (7,966) (1,617) (2,038) - (1,020) |
252,553 - (54,057) (39) (24,000) (1,720) (2,567) - - (13) (1,150) (25,221) (3,683) (886) (355) (11) (900) |
|
| (134,561) | (114,602) | |
| (134,561) | (114,602) | |
| 234,159 | 137,951 |
Page 10