2023-12-31-accounts

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Registered number 1187170

NUST TRUST FOUNDATION UK

Report and Accounts

31 December 2023

NUST TRUST FOUNDATION UK Company Information

Directors

Mr ZEESHAN MEHMOOD Mr Israr Ahmed Mr AUN ALI SYED Mr Rao Sabir Ali Khan Mr TOAHA QURESHI Ms Maria Qadri

Accountants

101 Whitechapel High Street 4th Floor London E1 7RA

Registered office

FIRD Secreteriate 43-45 Coldharbour Lane, Suit 2, Camberwell London SE5 9NR

Registered number

1187170

NUST TRUST FOUNDATION UK Registered number: 1187170 Trustees' Report

The Trustees present their report and accounts for the year ended 31 December 2023.

Principal activities

The company's principal activity during the year continued to be EDUCATION, WELFARE, & TRAINING.

Constitution objects and policies

NUST TRUST FOUNDATION UK is now constituted under the power given in the charities Act 2011 and is govern by a SCHEME ordered on 02 February 2018 by the Charity Commission for England and Wales.

The objects of the charity, are for the public benefits:

To advance the Islamic religion by the provision of a Mosque.

To advance Islamic education for both children and adults.

To promote religious harmony by fostering better relations between Muslims and other communities. And subject to the provisions of clause 5 in the Scheme ( Power to dispose of and replace purpose property), the land identified in part 1 of the schedule to the scheme must be maintained by the trustees for the objects of the charity.

Trustee

The following persons served as trustees during the year:

Mr ZEESHAN MEHMOOD Mr Israr Ahmed Mr AUN ALI SYED Mr Rao Sabir Ali Khan Mr TOAHA QURESHI Ms Maria Qadri

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 28 August 2024 and signed on its behalf.

Toaha Qureshi MBE Tustee

NUST TRUST FOUNDATION UK Registered number: 1187170 Trustees' Report

The Trustees present their report and accounts for the year ended 31 December 2023.

Activities during the financial year No activities took place

NUST TRUST FOUNDATION UK Registered number: 1187170 Trustees' Report

The Trustees present their report and accounts for the year ended 31 December 2023.

Financial review

The founder trustees of the charity donated its current freehold building at the time of its formation and as such there are no encumberances on the use of the property. All major expenses on the building are being capitalised over the period.

Fund Collection Policy

The trusties have collected funds and donations under the following specific Islamic definitions only:

Income

Trustees believe that the funds collected or paid by the donors for any of the named Islamic beliefs can be utilised to attain the objectives of the charity. Consequently for the purpose of the financial statement all collections have been considered as unrestricted donations.

Risk Management

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen the risks.

Trustees' responsibilities in relation to the financial statements

Law applicable to charities in England and Wales requires the trustees to prepare financial

statements for each fianacial year which give a true and fair view of the charities financial activities during the year and of its financial position at the end of the year. In preparing those statements , trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;

ards and statements of recommended practice have

losed and explained in the fianancial stateemnt; and

ng concern basis unless it is inappropriate to presume

that the charity will continue in business.

NUST TRUST FOUNDATION UK Registered number: 1187170 Trustees' Report

The Trustees present their report and accounts for the year ended 31 December 2023.

The trustees are responsible for keeping accounting record which disclose with reasonable accurecy at any time the financial position of the charity and enable them to ensure that the financial statement comply with the Charities Act 1993. They are responsible for the safeguarding of the aasets ot the charity and hence for taking reasonable steps for the prevention of fraud and other irregularitles. This report was approved by the board on 17 December 2023 and signed on its behalf by:

Mr ZEESHAN MEHMOOD Mr Israr Ahmed Mr AUN ALI SYED Mr Rao Sabir Ali Khan Mr TOAHA QURESHI Ms Maria Qadri

NUST TRUST FOUNDATION UK Accountants' Report

Accountants' report to the directors of NUST TRUST FOUNDATION UK

You consider that the company is exempt from an audit for the year ended 31 December 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

HNH Consultants LTD Accountants & Tax Consultants

101 Whitechapel High Street 4th Floor London E1 7RA

28 August 2024

NUST TRUST FOUNDATION UK Surplus Account for the year ended 31 December 2023

Donation Administrative expenses Operating surplus surplus before taxation Tax on profit surplus for the financial year	2023 £ 10,026 (500) 9,526 9,526 - 9,526	2022 £ - - - - - -

NUST TRUST FOUNDATION UK Registered number: Balance Sheet as at 31 December 2023 Notes Current assets Cash at bank and in hand 3 Creditors: amounts falling due within one year 4 Net current assets Net assets Capital and reserves Profit and loss account Trustees' funds	1187170 2023 £ 10,026 (500) 9,526 9,526 9,526 9,526	- -	2022 £ - - - -

The Trusteess are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Toaha Qureshi MBE Director Approved by the board on 28 August 2024

NUST TRUST FOUNDATION UK Notes to the Accounts for the year ended 31 December 2023

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Intangible fixed assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

NUST TRUST FOUNDATION UK Notes to the Accounts for the year ended 31 December 2023

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Leased assets

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2 Employees

2023 2022 Number Number

NUST TRUST FOUNDATION UK Notes to the Accounts for the year ended 31 December 2023

Average number of persons employed by the company 3 Current Asset Cash At Bank or in hand 4 Creditors: amounts falling due within one year Other creditors	0 2023 £ 10,026 2023 £ 500	0 2022 £ - 2022 £ -

5 Other information

NUST TRUST FOUNDATION UK is a private company limited by shares and incorporated in England. Its registered office is:

FIRD Secreteriate 43-45 Coldharbour Lane, Suit 2, Camberwell London SE5 9NR

NUST TRUST FOUNDATION UK

Detailed surplus account for the year ended 31 December 2023

This schedule does not form part of the statutory accounts

Donation Administrative expenses Operating surplus surplus before tax	2023 £ 10,026 (500) 9,526 9,526	2022 £ - - - -

NUST TRUST FOUNDATION UK

Detailed profit and loss account for the year ended 31 December 2023

This schedule does not form part of the statutory accounts

Donation Donation Administrative expenses Legal and professional costs: Accountancy fees	2023 £ 10,026 500 500 500	2022 £ - - - -

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Activities during the financial year:

No activity took place during the year.

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NUST TRUST FOUNDATION UK Company Information

Directors

Accountants

Registered office

Registered number

Principal activities

Constitution objects and policies

Trustee

Small company provisions

Financial review

Income

NUST TRUST FOUNDATION UK Accountants' Report

Accountants' report to the directors of NUST TRUST FOUNDATION UK

NUST TRUST FOUNDATION UK Surplus Account for the year ended 31 December 2023

1 Accounting policies

Basis of preparation

Turnover

Intangible fixed assets

Tangible fixed assets

Investments

Stocks

Debtors

NUST TRUST FOUNDATION UK Notes to the Accounts for the year ended 31 December 2023

Creditors

Taxation

Provisions

Foreign currency translation

Leased assets

Pensions

NUST TRUST FOUNDATION UK Notes to the Accounts for the year ended 31 December 2023

5 Other information

NUST TRUST FOUNDATION UK

Detailed surplus account for the year ended 31 December 2023

NUST TRUST FOUNDATION UK

Detailed profit and loss account for the year ended 31 December 2023

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