Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Cliarity registration number.. 1187230
Al Furqan Education Trust (CIO)
Aiiiiual Reporl and Fioaneial S¢alen)ents
for tlie Yeai. Ended 31 March 2023

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Educatlon Trust (CIO)
Content$
Rcferencc and Adniinisti?tive Details
Tru5tees' Rcport
2to4
Statenient of Tru5tees' R¢5ponsibiliti&%
Independettt ExaminePs Report
Siatenient of Financial A¢tivities
Balance Slieet
Notes to the Finaiicial Slat¢nients
9t0 18

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Ti'ust (CIO)
Referenee and Administrative Details
Trustees
Mr Ali Hussein Hassan
Mr Abub&kaF Abdi Hussein
Mr Abdirizak H£rad Moliamed
Mr Isinail Abdi5dniad Mo112mud
Mr Abdulsatar Abdi Aden
Pi'lncipal office
41 Cross Lanee8 Road
Hoiin51ow
TW3 2AD
Chai'ity RegÉsti'ation Nujnber
1187230
Indepeikdeijt Exanilner
Nasir Rafiq
Dua Govemance
123-131 Bradford Street
Digbeth
B120NS
Page I

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Edueation Trust (CIO)
Trustees, Report
Tlie Irusiees present the annual r¢port together with the financial stalcments of the chai'ity for the ye&r ellded 31
Marcl) 2023,
Objectlves and activlties
Piiblic bepiefit
The cliarity's activities air de5igiied lo benefit the Musliim community in the Loiidon Borough of Hounslow in
p8rti¢ular aiid tlie wliole coiiiiniiiiity in general. In view of tliis, tlie tmstees tonfiini tliat tliey liave liad due
regai-d lo Ili¢ public benefit guidance Iliey liave complied willi tile duty in $. 37 of the Chai'itits A¢t 2011 to
have due regai'd lo guidance published by the Cliai'ity Commission.
The trLlStees confinn 11)ey have Compli￿ with tl)e iEquiiements of section 17 of tlie Cljaiilieg Act 2011 to
have due regai'd 10 the public beiiefit guidanee published by the Chaiity Coniiiiissioii for England and Wales.
Achievements and performance
Trllstees, Report.. April 2022- M￿'Cli 2023
Tlie TrLlSt's activities resumed posl-COVID, and tlie centir's attendance lias increased, nece5silaliiig fiilly
functioning facilitle5. To meet ti)i8 dcmand, enhanceiiients undeiway, including tlie expansion of waslvooin5
for both nieii gnd wotnen.
Buildijig update.
Tlie planiiing pej'niission was gixnled in Julie 2022, aijd subsequentlyi the Irfui'bislinient project coiiimei)ced. As
parl of tliis initiative. new ladies, toilets witli disabled f#¢ilities weie siiccessfiilly consliiicted. Tlie pi'oject will
pJDceed with Ilie developnienl of inen's toilets aiid ablution f2ciliiies in tlje rtexi phase.
Tlie n)ait) projetts undertaken dLlI'ing tile financial year were..
a) Masjid
Al Fui'qall pi'ovide5 a fully functioning place of prayei., where Il)e 5 daily pi?yeiE, Taiiwili are pi)ye￿ llll
pi'ayei. servi¢¢s established. The pl￿ye1. services catei. to both Inen and woinen. Lettiires and lessoiis air
cotidllcted in tlie Masjid for tlie benefit of tlie worshippets.
bl Madrasali
Tlie Mttdtasah is on¢ of tlie JTJaill services provided by Al Furqan. The Madrasah, whi¢li runs w¢¢kends and, in
the evenings, ¢atei"s far botli boys aiid girls ovei. the &g¢ of 6. The Inadi?sah is slandardiied and suppoiled by a
well-thoiighi-out end i)repared ¢uiriculum that cateis to the 5ttidents who attend. Students al'e assessed by
experienced teacliei's al end of the leriii, Tlie Jttadrasali on Tue5d8y5 alld Tliur5day between 5-8pm aiid
Saturdays and Sundays fiDll) 9aaJii to 4pm. Regi$ts?tion lakes pl8¢¢ twice a year foi. Hew studellls.
P&Be 2

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Fui'qan Edllcatlon Ti'ust (CIO)
Ti'ustees, Report
¢) Ramadan project
Mu.g1inis look fojwai'd to tlie holy monili of Ramadaji. Rainadall is a nionili filled with vai'iou5 types of worship,.
including prayers, giving chtnty, fastiijg and bondiiig witli fellow Miislims.
Al Fuiqan lias been oi'ganising Tai'awili prayei-s (Niglil pi?yei%l since ils inception during Ilie month or
R￿l￿ada11.
Tai'aweeh pixyei% and Iftar progiRms wei'e catered to tlie comtnunity Wlthits the tentre. The entire co]nmuiiity
expiused deliglit as tliese services retuixed to iiomial following Ilie governniertt giiidelines post-lockdowi.
d) Eid Project
Tlie Eid pioject resiimed, and boili Eids weie joyfully condiicted in tlie pai'k. Tlie coinmiinity canie logetlier,
enjoying the fe51ivilies witli prayers and a fun fail- Ihat featlliEd i'ides foj. cliildi'en.
e) Children Sportsf(outh project
Al FurqaD aims lo pj'ovide a i?nge of a¢iivilies to bLlSy the youth and ereate a platfonn for them wliereby they
Can voice Iheii. needs and condeniiis. Yoiiih al'e a vital pai'l of any coimniiinity end we al Al l.iirqan. therefore
find il impoilant to liave Inany services available for Ihciii. W¢ aim lo ejnpowci. Ilic youth of uui- local
community witli tlie ne¢essaiy edueation, botli 151#inic artd ac2deJnic, lo prodiice illdividuals wlio will have
positive impact on ¢li¢iY conimunities at lai¥e.
11 Woinen PTojeet
Woinen from diffeirnl backgroiinds come togctliei. to socialise. have lessons 2nd get advice iegarding n)any
diffeiEnl matters, Tlie Ti'ust women progixins al'e expanding. now iEachin8 varioiis coinmiinities Wltliin Ilie
borough, the 81Sters hall is fully booked and cat￿. foi different classes every week.
gl social activitie5 #nd tounselling
Muslitns turn to tlje mosque foi. lielp and advice in all matters of Ilieir life. The tjxtst I￿S trained linams to
piovide counselling and advice oil coii¢erns that the coiiii)iiiiiity Inay have, suth as de%tli, cultural difficulties,
niai-iiAge bi'eakdowns. bullying and otlier social i8siies
The Trust also assist5 wit￿1 the filling in forins, speaking to coun¢ils on beljalf of worshtppeiz and vai'ious oiljer
types of assistaiice that may be of general help to the publi¢.
Fln&nclal revleiv
Diiiing Ihe year, the ehari(y iiicotne was £452k {2022.. £426kl. Charity expendilure was £486k {2022'.
£440k).The ¢liarity total i'eserves stood at £2.44IM (2021.. £2.4711i1
Structure> governanet aiid man&gement
Naluie ofgovevitiii¥ dociiifriÉiil
Tlie Charity j5 con5titul¢d as a Charitable lllCOlPOftited Oi'ganisalion (CIO), a5 a body coiTror#te under Pai'l I l of
the Chai'ities A¢t 2011 on (he 06 Oct 2020. Tlie CIO regi$tei'ed with the Chaiily Cominission Dn the same day.
Tiustees are legally Irspoiisible for the 8oveirance and inaiiag¢iMenl of the chai'ity. TIiis*es are respoiisible of
setting strategie5 and policies for ensiiring tlie5e ale implemented.
Page 3

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Ai Furqan Education Trust (CIO)
Trustees, Report
Mrtjoi. rf$k3 alid iiioiiageiiieiil ofiliosÉ i'ltrks
Tlie cliarity'5 liwstees have cansidered tlie major risks to wliich the charity is exposed aiid liave i'eviewed
poteiitial risks.
Systems aiid procedure5 have been put in place to maiiage the i'i5ks aiid to mitxgate ai)y adverse outcomcs.
The Aiinual Teporl was appi￿Ved by the trusiees of tlie charity on.
ai)d signed oil its behalf by..
ubakai. Abdi Hu&sein
Trustee
Page 4

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Trust {ClO)
Statement of Trustees, Responsibilities
The trustees are re5poiisibl¢ for preparitig tlie tnislee5' report aiid the financial stateiiienls in accordaiice witli the
United Kingdom Accoiinling Siandai'ds {Uniled Kingdoii) Genei?Ily Accepted Accoiiniing Practice) and
applicable law and regulatioiis.
The lllw applicable lu cliarities requires tlie tiustcts 10 pi'epare fjnancial slalenients for eacli financial year wlii¢Ji
give a true and fail. view of the state of affairs of the charity and of tlie in¢oining resources and application of
I'esources of tlie ¢hai'iiy for tliat period. In piEpai'ing tliese finaiieial statements, the Inistces are reqiiired to.,
select suitable Accountiiig polici¢5 and Iheii apply theni consisteiitlys
obscive Ihc iiiethods and pj'inciples in the Chai'ities SORP.,
make judgements and estitiiates Iliat are reasonable and piudcnt.
sloie wlieilier applicablE aecounling 5thlldai'd5 1)ave been followed, subject to any inalerial departULES
disclosed and explained in the fjnancial statements., and
pirpai'e Il)e fijjanc￿aI statnients on the going con¢em basts unless Lt j5 inappi'opriate to pi'e5ume that the
Tlic trustees are irsponsibl¢ for keeping proper accountiDg iEcoi'ds that discI05e with I'easonlble accui2cy at any
time Ilic financial position of the cliarity and enable Iliein lo eiisitie tliat Il)e financial statements coinply with tlie
Charities Act 2011, Ilie applicable CliaL-Ilies (Atcounls and Reports) Regiilalions, alld Ilie provisions of tlie
eonstilution. The tttysteeg air also i'csponsible foi. safeguai'ding the assets of the cliarity #nd hetjce fol. taking
Irasonable stei)s for the prevenlioii and detection of fi'aud aiid ¢)Iliei' ii'rtgulai'ities.
Approved by tlie triTStees of the charity on
nd Signed on ils behalf by..
Mi. Abubak21' Abdi Hussein
Trustee
Pttge S

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Trust (CIO)
llldepelldent Examiner's Report to the trustees of Ai Furqan Education Trust (CIO)
J repoi'l lo the eliarity tiustees on my examination of the a¢¢ounts of the charity for the year ended 31 March
2023 wliicli are set out on pages 7 to l 8.
Respective responslbllltles of ti'ustoes and examiner
As tlie chai'ity's trustees of Al Flli'qan Education Trust (CIO) you ar¢ Irspon5ible for tlie piEparation of the
accounts in &ccoi'dance with tlie requireiiients of the Cliarities Act 2011 ('the Ael'}.
I Irport in respect of my exajiiinalion of tlie Al Furqan Educatson Ti'ust ICIO)'s ac¢ouiits caii'ied out und￿.
section 145 of Ilie 2011 Act aiid in carying oiii niy exaniinalioii I liave followed all the 2pplitable DiTections
given by tlie Cliaiily Coniinission under section 145{5llbl of tlie Act.
Independent examlnei S 8tateinent
Since Al Fuiqan Educaiion TIu8t ICIOI'S gloss inconie exceeded £250,000 your exaiiiiner niusl be a mertjber of
a body listed in sectloll 145 of tlie 2011 Act, I confuin Iliat I ai?1 qUdlJfJed to underlakc ikne exaiiiination beca1￿¢
l am a ii)ember of ICAEW, wliich ts one of the listed bodies.
liave cojnpleted my examination. I confirm thai no material i?ialteiB liave coine to my atlet)tion in con11ection
with Il)e examination giving nie cause to believe Ilmt in arty material respect..
aceountlng re¢ords were not kept in respect af Al Furqon Education Trust (CIO) as required by section 130
of the Act., oy
2. tjie acLouttts da not accord witli those records,. or
3. the accounis do iiot coinply witji Ehe aceounting requirements COllcerninE Ilie foirn and coniettt of accoullts
set out itt the Cliai'ities (Accoiints aiid Repoils) Regul&tioiis 2008 oth¢J' than aiiy i'equir¢iMeiil that tlie
ecoiiiils give a 'true and fair view, wliicli is not a matter considered as pait of an independent
exaini11gL lion.
T Ii&ve no concern5 and liave con)e across no other tnatteiE iji connection willi the exanTrinatioii to whicli attention
sl)ould b¢ drawn iii thi5 iepoi't ordei. lo enable & pi'oper ullderslandinL) oFili¢ ae¢ounls lo be i'eaclied.
PJèi
Nasir Rafjq
ICAEW
Dua Governante
123-131 Bradtord Siveet
Digbetli
Bii-niingliain
B120NS
02/02/2024
Date..
Page 6

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Educatlon Ti'ust (CIO)
Statement of FinanciAI Activities for the Year Ended 31 March 2023
UILresti'leted
funds
Total
2023
Note
IneDJne aDd Endoivijieijts froni:
Doiiations and lekiaeies
Otlicr incoine
451,975
155
451,975
155
Total incorne
452,130
452,130
Expendituie ort:
Raising funds
Chai'ilable activilics
474,5531
474,5531
Total expenditure
Net expeiiditure
Net inovein¢ni in fiittds
486,166
486,166
34,036
34,0361
(34,036)
134,036)
RecoDciliatioii of fund5
Total funds brouglit forward
2,469,578
2,469,578
Total funds can'ied foiwai
12
2.435,542
2,435,542
Total
2022
Unresti'icted
funds
Note
Income. and Endoivments from..
Dondliolls atid legacies
Olhei. income
281.724
281,724
Total incoine
425.935
425,935
Expenditui'e on:
Charitable aclivlties
{439,657
439,6571
Total expenditure
Net expenditure
Net movement iii ￿lId8
{439,657
439,6571
113,722)
(13,722
{13,722}
(13,7221
R¢¢onelllatloii of fuiids
Total funds biY)ughl foiwaiyl
Total fiinds catyied forward
2,483,300
2,469,578
2,483,300
12
2,469,578
All of tlie cliai'ity's activities derive from continuing operations diiring tlie *bove two periods.
Tlie funds bitakdowtt for 2022 is shown in Dole 12.
Page 7

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al FurqAn Education Tyust (CIO)
(Registratfion number: 1187230)
Balanee Sheet as at 31 Lllarch 2023
2023
2022
Note
Flxed assets
Tangible assets
2,382,900
2,433,600
Curreiit assets
DebtOl'5
Cash at bartk and in hand
7,220
75,692
7,220
55,078
62,298
10
82,912
Creditors: Amounts falllng due within one year
30.270
{26,3201
Net current Asscts
52.642
35,978
Net assets
2,435,542
2,469,578
Fuiids of tho tharlty:
Unrestrittcd iiieothie funds
Unresli'icted fi]nds
2,435,542
2,469,578
TotAI funds
2,435,542
2,469,578
lie finaiicial slateinenls on pag¢s 7 to 18 were ai)proved by die triislees, 8nd auihorised foi. issue on
and signed on Ilieir beI￿lf by..
Mr Abllbak*r Abdi Hussein
Tiustee
Page 8

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Edueation Trust {ClO}
Notes to the Financial Statements for the Year Ended 31 March 2023
l A¢colliiliiig policies
Statement of Compllgnce
Tlie financial staleinenls liave been prepared iii accordance willi A¢coiinting and Repoiting by Cliarities..
Stalejiient of R¢¢oinmended Praelice applicable to chai-ilies preparing tlieii. accoullls in accordance with the
Financial Repoi'ling Standard applicable in tlie UK and Republic of Ireland IFRS 102) (effective l Janiiary
20151- Icli2rilies SORP IFRS 102)), Ili¢ Finan¢tal Reporting Standard appliLable in Ilie UK and Repiiblic of
IKlond IFRS 102) and the Cliarities Atl 201
Bgsis of pi'eparation
Al Fiirqan Education Tr118t {CIOI iiieets t1￿ definition of a public benefit enlily urtder FRS 102. Assets aiid
liabilities are initially recogni5￿ al histoi'ieal cost or ti?nsaction value unless otlierwise slated in tile relevat]t
accounting policy notes.
Eyemptlon from prepariijg a cash flow statement
Tlie cliarity opted 10 early adopt Biillelin I published on 2 February 2016 and Iiave tlierefort not included o Cash
flow statenient in these fjnaiicial stalenienls.
Golng concern
Tlie trustees consider that there are no ittaterial llncerlainties 2bout tlie cliaritys ability to CODtinlle as a going
coiic¢rn.
Ineoiii¢ and endoivinejits
Volunlaiy income in¢lllding donations, gifts, legacie5 and grants tliat pl￿vide core funding or of a 8enei.al
natuir is recognised when the cliai'ity lias eiiliileii)enl lo the income, it is probable that the inconie will be
Irceived And Ihe amounl can be Incasured witli surrici¢rtt reliability.
DoNtsIEOiiS aiid legacies
Donations and legacies air recognised on a receivable basis when Irceipl is piobable and the amoiinl can
reliably Jneasiii'cd.
Gills iii kiiid
Gifts in kind #re recognised in different ways dependent on how Iliey are used by tlie charity:
lil Tliose donated for re8ale PToduce income when they aiE sold. They are valued al Ihe amount actually
I'ealised.
lil) Those donated foi. onwatd transmission to beneficiai'ies are illGluded in Ilje Slaletnent of Finaiicial AclivitL¢S
as iiicornillg ie50urces and Irsoiirccs cxpcnded wlien they Ère distributed. They air valued at tlie ainollnt the
cliarity woiild liave liad lo pay to acquire tliein.
{iii) Those dotjaled for usc by the cliarily itself are included wlien receivable. Tliey are valued at the ajnoullt Ihc
charity would have had to pay to acquire them.
Page 9

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Trust (Clo}
Notes to tlie Financial Statements for the Year Ended 31 March 2023
Expendlture
All expendilui'e is recognised once their is a legal oi. constiuctive obligation to tliat cxpendiltsre, it is pi'obable
settleiiient is requiiEd and the aniount can be nieasuird reliably. All costs are allocated lo the applicable
expenditure lieading Iliat a¥gJegale siiiiilar cosls to Iljai caiegoiy. Wheir costs Caj￿01 be directly atiribiiied to
paTti¢ular heading5 they I￿ve been allocated on a basis ¢onsislent with tli¢ use of iEsources, witli eentl21 staff
tosis allocated oli the basis of tiine spent, and depreciation cliarges allocated on the portioii of the asset'8 Use.
Other support Costs are allocated based on tlie spir%d of staff costs.
These are costs inclli'i'ed in attracting volut)t4iy ineoiDe, the managenient of investments and those ii)¢urred i
tradillg activities that raise funds.
Chai'ilablE a¢livTlies
Cliai'ilable expeiidithiE compi'ises Iliose costs i11cur￿d by tlie ¢liai'ity in tlie delivery of its activities 2nd seiviees
for 115 beiieficiaries. It lllcludes both costs can be allocated dii-e¢tly to such activities and Iliosc costs of an
Indi￿¢t natui'e nectS5ary to suppoit them.
Gruntpl￿vI&1é1jiS
Provisions for gi'ants are 1118de wlien tli¢ intention to niake a gi'ajit has bcen comittunitated to die recipient biit
there is iinceitaiiity about either the tiining of the grant or the aniount of g12nt payable.
Taxatlon
Tli¢ charity is considered to pa&8 tlie tests set out itt ParagiBph I Schedule 6 of tjie Finance Aet 2010 at
therefore it meets the definition of a chai'ilable company foi. UK ¢orporation lax PiiTpose5. Accoiyliiigly, 11)e
¢l)arity is potentially exeii?pt fi'oiii laxatioll in Irspect of incoine oi. ￿pit￿lI gairts rtceived wiiliin calegoi'ies
tovcrtd by Cliapler I Part I l of the CorpoL?tion Tax Act 2010 or Section 256 of the TaK#tion of Clisrgeable
Gait)s Act 1992, to the extent that Suth iii¢oiMe or gains aiE applied exclusively to chaiitable puiposes.
Tanglble fiyed asstt$
Individual fjxed assets costing £0.00 or inore air initially recoj'ded at Cost, less any 5ubsequet]t accuniulated
depreciation and subsequent a¢cuinulated inipaii'inent losses.
Depreclatioii and ainortlsatloii
Depreciation is provided on tangible fixed assets so as to wi'ite off the cost or valuation, Irss any &%litnated
Irsidual value, ovei. Iheii. expected iiseful econonii¢ life as follows..
Ti'ade debtors
Ti7de debtoi's ar¢ amounts duc frotn cu5tonieLS for meirhandise sold or seivites peifoinied in tlie Ol'dinary
course of biisine8S.
TiÈde debtors IEcogni5ed initially al the transaction price. They are subsequently measiu'ed at ainoitised cost
using tlic effective interesl llietliod, le￿ provision foi. iiiipaiiiiient. A provisioii foi. tlie iiiipainiient of ts'ade
debtoi's is eslablislied wlien tliere 15 objective evidence tliat Ilie cliai'ity will not be able lo eolleci all Ainoiin15 diie
accordijig to the oi'iginal leims of tile receivables.
Page 10

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Edueation Trust (CIO)
Notes to the Financial Statements for the Year Ended 31 March 2023
Cash cash equivilettts
Cash and cash equivalents comprise eash on hand aiid call deposils, and other shoit-term higlily liouid
invesliments that are i'eadily Convertible to a known aiiiount of cash and al'e sllbject to an insignifi￿rtt visk of
cliaiig¢ in valuc.
Trade creditoi's
al'e obligations lo pay for gTh)ds oi. services thai have been acqllired in the ordinaiy couiBe of business fi'om
siippliers. Accoiinls payable are classified as CillL-¢nl liabjlilies if Ilje does not have an iin¢tsndittonal iigjil, at tlie
end of the reporting peiiod, to defer settleiiient of the creditor for at least twelve inonihs aftei. the I'epoiting date.
If Iliere is an unconditional right tts defei. seltlcnienl for al Ica5t twelve ii)onihs aftei. the repoi'tiiig date. they al'e
PiEsented as non-cuiyellt liabilities.
ait recognised initially at tlie trallsa¢tion price and subsequently measured at amoitised cosl using the efyective
inteirsl ikneihod.
Borroiwings
Interest-bearing boi'rowings arc initially recorded al fail. valiie, net of transaction costs. Tnteiest-beai'ing
boi'rowing5 are siibseqiienily cari'ied al Ainorlised cost, with Ilie difference between ilie proceeds, net of
transaction ¢o$18, and Ilie amount duc on Jrdemption being recognised as a charge to the Slatenient of Financial
Activities ovei. Ilie period of the IEl£valll boryowiiig.
Intei'est expense is ircognised on the basi8 of the effective Int￿ESt method and is included in interest payable
Borrowing5 air classified as current liabilities unle%s Ilie cljaiity lia8 an unconditioJMI iiglil lo defer setdeinent of
the liability foi. al least twelve Inonths aftei. the IEPOJting dale.
Fllnd strueture
Unirslriclcd it)conie funds are general fund5 that al'e avnilable foi. use at tlie liustees's dis¢relion it) furtherance
of the objectives of the ¢h4rity.
Finanelil In$truineiit8
Financigl asgels attd fill2ncial liabilities aL'¢ recognised when tli¢ ¢hartLy becomes a parly to thc conlrn¢tual
provisions of the inslruineni.
Financial liabilitie5 and equity tnslninients al'e classified according to the subsrortce of Ilie cotttractt￿I
arrangeinenls ejiiered into. An equity instrunient Ib arty contrncl that evidence5 a residual interest in the a85et5 of
the charity aftei. deducting all of it5 liabilities.
Pag¢ 11

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Educatioji Trust (CIO)
Notes to the Financial Staten)ents for the YeAr Ended 31 March 2023
Réc￿81111101t uiidiiieNsu>'enieiil
All finaiicial assets and liabilities Al-e initially nieasui'cd at Ii'ansaclion pi'i¢e liiicluding ti'aiisaclion costs), except
for Iliose financial assets classified as at f#ii- value through pi'ofit or loss, wliicli 8ie ii)itially nieasiired at fail.
value {wliich is norinally die iransaetiott price excluding liaiisaclion costs), unless Ilie ariangeillent constiliiles a
financing Iransa¢tion. If an ai'rangement constitutes a finat)¢ing transaction, the fjnaiicial asset or fiiiaiicial
liability is tneasiiiEd ai tlie present valiie of the futUlE paynienls discounted al a niai'ket 12le of inteiEst foi- a
siinilar debi in$truin¢nt.
Finaiicial assets and liabilities al'e only offset in the stateiiienl of financial position wlien. and only when tliere
exists a le¥ally et]forceable light to set off th¢ L"ecogni5ed aiiiounls ￿ld Ilie clmrity iiitertds either to 5eiile oil a
net basis, oi. to realise tli¢ a85et and settle tlie liability simultaneously.
Fillaiicial a$$el$ al'e d¢r¢cogni5ed when and only wli¢n a) ttie Colltractual i'igrlils 10 Il)e cash flows from tjie
financial asset expii'¢ or air settled, b) the ¢1￿l'itY Iransfeis (o attotliei- party Substantially all of tlje Jisks atld
i'ewards of owiiei¥liip of the fiiiancial a5sel, or cl the charity, despite Ii#ving ielained sonie, but iiot all,
5ignifTcant ¥isks and rewaixls of owneiEliip. has tran5feri.ed control of tlie asset lo anoiher party.
Financial liabilities are derecognised only when the obligation specified in the conli'act is dis¢hArged, ¢ancelled
or expires.
PAge 12

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Edueation Trust (CIO)
r4otes to the Finaneial Statements for tlie Year Ended 31 March 2023
Debi iii$ii'iiiNeiiis
Debt inslwment5 whicli nieet the following eolldiiioll5 are subsequently n)easuiEd at amortised cost using thc
effective iniei'esi metliod,,
(a) The conli'actual ietum to the holder is lil a fixed amount. lil) a p08ltiYe fjxed i?te or a positive vaiiable rate.
or liiil a coiiibination of a positive or A negative fixed l'ate and a positive vai'iable 171e.
Ib) The contract inay piDvide foi. repayments of tlie pi'incipal oj. the returtl to the holdei. Ibllt not both) to be
linked lo a single rel¢vaiit obseivable index of general pi'i¢e intl81ion of the cui'rcncy in ivhich the debt
instrunicllt is d¢iioininat¢d, provided sucli link5 al'e not leveTaged.
(¢1 The contract may provide for a dei¢L-minable vai'iation of the retui'n lo tlie lioldei. diii'ing the life of the
in5tiiiincnt, provided that {1) Ilie new rate salj5fies condition (a) and Ilie vai'ialioii is not Colltingellt on luliir¢
events olliei. tiian {]) a cliange of a conti'aGtual vai'iable i'ale. {21 lo pl￿teCt ti)e Iiolder against ¢iedit detei'ioi?tion
of tlie issllci.; (31 chaiiges in levies applied by a central bank or arising fi'oni changes in IElevani taxation oi. law.,
or {iil Ilie new l'ate is a iiiai'ket 17te of interest and satisfies conditioii (al.
{d) Their is no ¢ontiActual provision that could, by its i¢rms, result in the holder losing the principal aniount or
any inteitst Hllribulable lo tlie ciirrent period OT prior pei'iods.
(e) Conlr8Ctual piDvisions that peiinit the issuej. 10 prepay a debt iiislÈiinienl or pei'mit tlie lioldei. to put it back to
tlie issuer befoi'e maturity are not ¢onlingent on fuliire event5. oilier tli#n to protect the liolder agaiiist Ilie ciedit
dctcj'ioiition of die i55uer or a cliange in control of tlie i5SUtr, o¥ to iJiDtect tlje holder or issuej. against cliangc5
in levies applied by a cthiti'al baiik oi. arisijig froni clianges in i'elevanl taxation or law.
10 Coiits•¢lual piuvisions Jnay peiThit tlie exteJl5ion of Ilie teirn of tile debi insli'utiicnt, piovided that Ilie JElurn
to tlie holder and any other conts'actual provisions applicable dui'ing the extended tcrm satisfy the ¢oiiditiot)$ of
pai2giaplis {a) to Ic).
Debt insttumeiiis that are classified as payable oi. rcceivAble witliin one year on initial ircognition and wliich
meet Ilie above conditions are nieasiired al t17e undis¢ounied aniount of tlie casli or other consideration expected
to be paid or re¢¢ived, nel of ijnpaiiinent.
With tlie exceplioii of soine liedBing instruments. otlier debt instruments not meeting tliese condilions are
measwrd at fail. valiie diiough pi'ofjl or loss.
Conimitnients lo make and Iyceive loans which Ineet tlie conditions tnenlioned above are Ineasiired ai cost
(which inay b¢ nil) 1¢$$ iiiipairinent.
litveslijigiils
Investnients in non-convertible prefei'ence shales and non-piitlable oi'dinary oi- pieference shares {wliei'e sliares
2re publicly limded OJ. tlieir fail. value is i'eliably mcasurable) are measured ai fair value tIux)UEli profjl oj. Ioss.
WheiE fail. value canllot be me2su1.cd irliably, invesliiienls ar¢ measuiEd at cost less impairinenl.
It)ve$lments in subsidiarie5 and associates are Jneasured al eosi less i17Jpaiiinent. For inv¢simenls in subsidiai'ies
acquii'ed for considei'ation including the isslle of sharcs qualifying foi. niei'g¢r T¢lief, tost is nieasui'ed by
IEference to Ilie nominal value of tlie sliairs issued plus fair value of otlier consideration. Any piEmium is
ignoied.
Page 13

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Trust (CIO)
Notes to the Financial Statements for tl)e Year Ended 31 March 2023
Dgrlvu¢lvefiiioiici4li11511'iiiiieiil
The chai'ity uses derivative financial iiistrumeiils to IEduee exposure to foreign exchange J'tsk and interest rale
moveinenls. Tlie cliai'ity does not liold or issue dei'ivaiive finan¢i41 instiiinients for Speculative piirpose8.
Dei'ivatives are initially r¢cogni5ed at fair value al the date a dei'ivative conttxct is etJteiEd into and aTe
subsequently reineasured to their fail. valiie ai eacli reporting dale. Tlie resiilting gain oi. loss is I'e¢ognised in
slaletnellt of fjnancial activities ILnn)¢diately uJil¢sS tlie derivative is designated and effective as a hed¥in¥
instrunient, in which cvent tlie tiining of the iEcognition in statement of financial activities depends on the
nature of the hedge relationship.
The b¢st evidence of f&ir value is a quoied pj'ice foi. an identical asset in ali active tnaTket. When quoted pi'ices
re iinavailable, the pi'ice of a recent transaction foi. an identicÈl assei provides evidence of fail. value a5 long as
Ilieir has nDI been a 5ignificuiit chuiige in econojnic circujnstances or a significant lapse of limt since Ilie
transaction took place. If the m21.kei is i)ot 8Ctiv¢ and Ltcent tra115acliol￿ of an sdentical a$$el on theii. owii are
iiot a good estimate of fair value, Ilie fail. value is esliinaied by 115ing a valiialion tecliniqiie.
2 Income froin donations legAele$
Ulli'estrlcted
fuods
General
Total
2023
Total
2022
Donations and legacies.,
Doiiations to iiiajor appea15
Gifts in kind
451,975
451.975
100,243
43,968
451,975
451,975
144,211
3 Othcr ineom¢
UiirÈsti'lcted
fund5
General
Total
2023
Totol
2022
HMRC JRS Giants
FLes 2nd supplies
Rental incoiiie
83,653
165,044
33,027
281724
155
155
155
155
4 Exptndlture on ehai'ltable a¢tiYiti¢s
Page 14

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Fui'qan Education Trust (CIO)
Notes to the Financial Statements for the Year Ended 31 March 2023
Actlvlty
uiidertal(en
dlrectly
Gi'iiit funding
of 2etivSty
Tot91
2022
Total
2021
Education and Worship
GOve1￿anCe
449,122
25,43 1
474,553
460.735
25,431
425,513
14,144
486,166
439,657
S Net IncoiJ)IDglolltgolng i'esources
Nel outgoing JE$ouires foi the ye&r include..
2023
2022
Depreciation of fixed assets
50,700
Page 15

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Trust (CIO)
Notes to the Financfiftl Statements for the Year Ended 31 Mareh 2023
6 Staff ¢osts
Tli¢ aggregute payi'oll costs were as follows..
2023
2022
Staff costs duriijg the yeAr wei'e:
Wages an(188laries
So¢ial se¢ui'ity costs
Pension costs
266.186
25.810
255,094
41.073
1,704
297,871
291,996
No einployee received emoluments of moir than £60,000 during the y￿r
7 Ty&X2tlon
Tlie charily is a registered tliariiy and is dierefore exeiiipt fTOtn iaxEilion.
8 Tangible fixed assets
Land
bulldlng$
Tot81
C05t
Ai l April 2022
2,535,000
2,535,000
At 31 Mayth 2023
2,535,000
2,535,000
Depveelatlon
At l April 2022
Charge for Ilie year
At 31 Mairh 2023
101,400
50.700
101,40Q
50,70a
152,100
152,100
Not book v&luÈ
Al 31 Marclj 2023
2,382,900
2,382,900
At 31 Mairh 2022
2,433,600
2,433,600
9 Debtoys
2023
2022
Other debtors
7.220
PAge 16

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan EdueAtion Ti'ust {ClO)
r4otes to the Financial Statements for the Year Ended 31 March 2023
10 CASIJ ATid e#$h equlvalents
2023
2022
Cash at ballk
75,692
55,078
11 Cr¢dltor8: amounts falling due iyithith one y¢8r
2023
2022
Ti'ade creditors
Other creditois
Accnials
1,000
21,540
3,780
26,320
26,320
3,950
30,270
12 Fllnds
Balance at i
Api'il 2022
IneomiiiE
'esourc¢s
Resourees
cxpended
Bglance 4t 31
Mgl'etl 2023
Unresti'icted funds
Geneial
2,469,578
452,130
1486,166
2.435,542
Balaijce at I
April 2021
Inconiing
'esoure¢s
Re$vur¢ts
expended
Bglance at JI
Mai'cll 2022
Unresti'icted funds
Gen￿￿[
2,483,300
425.935
439,657
2,469,578
Page 17

Docusign En¥ÈlopÈ ID". 83CD7B72-87AD4785-B8E24E27FD50525F
Al Furqan Education Trust (CIO)
Notes to the Financial Statements for the Year Knded 31 March 2023
13 Aiialy51s of iaet assets between funds
Urjresti-icted
(und$
Genei'AI
Total (unds
2023
Tangible fixed assets
Cui'rent assets
2,382.900
82.912
30.270
2,382,900
82,912
(30,270)
Total net assets
2.435,542
2.435,542
U]Jrestricted
funds
Geajei'al
TotAI funds
2022
Tangible fixed assets
CuriEnt assets
Cuiyetjt liabilities
2,433,600
62,298
26,320
2,433,600
62,298
26,320
Tot81 net assets
2,469.578
2 469 $78
J4 Analys1$ of Net fuiids
At l April
2022
Flnanelng
e3slJ flows
At 31 M*i'ch
2023
Casli at bank and in Iiand
75,692
Net debt
55,078
At l Aprll
2021
20,614
Flnan¢lng
cAsh Ilows
75,692
At 31 Marcli
2022
Cash a¢ bank aiid in hand
55,078
55,078
Net debt
55,078
Page 18