Charity Registration No. 1172788
NASEEM MANJI EDUCATION TRUST
(CHARITABLE INCORPORATED ORGANISATION)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Laila Manji Dr. Nina Rajani Henrietta Sophie Ross (Appointed 6 October 2025)
Charity number 1172788
Principal address
Acre House 11-15 William Road London NW1 3ER
Accountants
HW Fisher Professional Services Limited Accountants Acre House 11-15 William Road London NW1 3ER
NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) CONTENTS
| Page | |
|---|---|
| Trustees report | 1 |
| Chartered Accountants' report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 9 |
NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) TRUSTEES REPORT
The Trustees present their annual report and financial statements for the year ended 30 September 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity commission, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective from 1 January 2019).
Objectives and activities
The charity's objects are to advance the education of girls between the ages of 5 to 16 who are resident in the poor communities in Tanzania by awarding grants and financial scholarships for the beneficiary girls, who come from sections of the community which live in poverty and who would not otherwise have the opportunity to receive an education through lack of funds.
Achievements and performance
The charity has paid grants £40,013 during the year to institutions (2024: £Nil) as the charity moved to a bi-annual donation cycle next Grants will be disbursed in the year ending September 2027 (January-April 2027).
The Trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission.
Financial review
During the year, investment income of £14,103 (2024: £23,870) were received by the charity and charitable expenditure of £47,325 (2024: £8,020) was incurred.
The Trustees have carefully considered the minimum amount of reserves that they should hold, having taken into account that they wish the Trust to continue for the long term and grants to be made in the future. The minimum amount of reserves that the Trustees will allow is £150,000 and this level was maintained throughout the year.
It is the Trustees' intention to make grants in the future where they see fit in line with the objectives of the charity.
Structure, governance and management
The charity is a Charitable Incorporated Organisation, governed by it's constitution.
The Trustees who served during the year and up to the date of signature of the financial statements were: Laila Manji Dr. Nina Rajani Henrietta Sophie Ross (Appointed 6 October 2025)
Trustees are appointed by majority vote of the board of Trustees. On appointment Trustees are provided with the constitution and a copy of the financial statements.
The Trustees report was approved by the Board of Trustees.
Laila Manji
..............................
Laila Manji
Trustee23 Jul 2026 Dated: .........................
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION)
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NASEEM MANJI EDUCATION TRUST FOR THE YEAR ENDED 30 SEPTEMBER 2025
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of Naseem Manji Education Trust for the year ended 30 September 2025, which comprise the statement of financial activities and Balance sheet and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement letter dated 13 September 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Naseem Manji Education Trust and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Naseem Manji Education Trust and the charity's Trustees as a body, for our work or for this report.
It is your duty to ensure that Naseem Manji Education Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Naseem Manji Education Trust. You consider that Naseem Manji Education Trust is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Naseem Manji Education Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HW Fisher Professional Services Limited
HW Fisher Professional Services Limited
Chartered Accountants
Acre House 11-15 William Road London NW1 3ER
23 Jul 2026
.........................
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Investments | 3 | 14,103 | 23,870 |
| Total income | 14,103 | 23,870 | |
| Expenditure on: | |||
| Charitable activities | 4 | 47,325 | 8,020 |
| Total expenditure | 47,325 | 8,020 | |
| Net gains/(losses) on investments | 9 | 27,727 | (21,016) |
| Net expenditure | (5,495) | (5,166) | |
| Other recognised gains and losses: | |||
| Other losses | 10 | (381) | (395) |
| Net movement in funds | (5,876) | (5,561) | |
| Reconciliation of funds: | |||
| Fund balances at 1 October 2024 | 501,432 | 506,993 | |
| Fund balances at 30 September 2025 | 495,556 | 501,432 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) BALANCE SHEET
| Notes Fixed assets Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds |
2025 £ - 91,710 91,710 (3,893) |
£ 407,739 87,817 495,556 495,556 495,556 |
2024 £ 52,809 8,657 61,466 (3,090) |
£ 443,056 58,376 |
|---|---|---|---|---|
| 501,432 | ||||
| 501,432 | ||||
| 501,432 |
23 Jul 2026
The financial statements were approved by the Trustees on .........................
Laila Manji .............................. Laila Manji Trustee
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies
Charity information
Naseem Manji Education Trust is a charitable incorporated organisation, incorporated in England and Wales. The principal address is Acre House, 11-15 William Road, London, NW1 3ER.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Income
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
1.5 Expenditure
Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance, are allocated to the two charitable activities in the statement of financial activities.
Cost of charitable activities include grants made. Grants payable are payments made to third parties in the furtherance of the charity's objectives. The grants are accounted for where either the trustees have agreed to pay a grant without condition and the recipient has reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the charity.
Provisions of grants are made when the intention to make the grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting policies
(Continued)
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
The Trustees do not believe there to be any judgements or estimates that would be considered critical to the financial statements.
3 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Income from listed investments | 14,103 | 23,870 |
4 Charitable activities
| Charitable activities | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Grant funding of activities (see note 5) | 40,013 | - |
| Share of support costs (see note 6) | 2,430 | 4,702 |
| Share of governance costs (see note 6) | 4,882 | 3,318 |
| 47,325 | 8,020 |
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
5 Grants payable
| Grants to institutions: Nurturing Minds Inc Rotary Club of Dar Es Salaam Oysterbay Scholarship Fund American Friends of The School of St Jude Girls Education Collaborative Inc |
2025 £ 16,088 3,964 16,088 3,875 40,013 |
2024 £ - - - - |
|---|---|---|
| - |
6 Support costs
| Support costs Governance costs £ £ Bank charges 2,430 - Accountancy fees - 4,511 Legal and professional - 371 2,430 4,882 Analysed between Charitable activities 2,430 4,882 |
2025 Support costs Governance costs £ £ £ 2,430 4,702 - 4,511 - 3,318 371 - - 7,312 4,702 3,318 7,312 4,702 3,318 |
2024 £ 4,702 3,318 - |
|---|---|---|
| 8,020 | ||
| 8,020 |
Governance costs includes cost to other services for £4,511 (2024: £3,318).
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
There were no employees during the current or prior year.
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
9 Net gains/(losses) on investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Revaluation of investments | 34,527 | (20,776) | |
| Gain/(loss) on sale of investments | (6,800) | (240) | |
| 27,727 | (21,016) | ||
| 10 | Other gains or losses | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Foreign exchange gains | (381) | (395) | |
| 11 | Fixed asset investments | ||
| Listed | |||
| investments | |||
| £ | |||
| Cost or valuation | |||
| At 1 October 2024 | 443,056 | ||
| Additions | 7,532 | ||
| Valuation changes | 34,527 | ||
| Disposals | (77,376) | ||
| At 30 September 2025 | 407,739 | ||
| Carrying amount | |||
| At 30 September 2025 | 407,739 | ||
| At 30 September 2024 | 443,056 | ||
| 12 | Debtors | ||
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | - | 52,809 |
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NASEEM MANJI EDUCATION TRUST (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
13 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Accruals | 3,893 | 3,090 |
14 Related party transactions
During the year, redemption proceeds of £28,887 (2024: £7,148) were received by trustee Laila Manji in respect of Barak SFT Investments held on behalf of the charity. The proceeds were transferred in full to the charity's bank account.
As on 30 September 2025 included in the debtor, the trustee Laila Manji owed the charity amounting to £Nil (2024: £52,809) and Barak SFT Investment held amounting to £6,068 (2024: £62,289).
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