2021-07-31-accounts

Charity Registration No. 1191868

MUSLIM FUTURES,

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

MUSLIM FUTURES,

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Naveed Siddique
	Freeda Yousaf
	Ummar Yousaf
Charity number	1191868
Registered office	570 Cranbrook Road
	Ilford
	Essex
	IG2 6RE
Independent examiner	AGP Consulting
	Q West
	Great West Road
	Brentford
	TW8 0GP
Bankers	TSB Bank Plc
	797-799 High Road
	Leytonstone
	London
	E11 4QS

MUSLIM FUTURES,

CONTENTS

	Page
Trustees report	1 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 12

MUSLIM FUTURES,

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2021

The trustees present their annual report and financial statements for the year ended 31 July 2021.

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's [governing document], the Charities Act 2011 and "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 ).

Objectives and activities

The charity's objects are, the prevention and relief of poverty, the relief of sickness and the advancement of education anywhere in the world as the trustees deem fit by providing grants, items and services to individuals in need or charities or other organisations working to prevent or relieve poverty, alleviate sickness or the advancement in education.

T here has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

During 2020-2021, by far our busiest and most productive year, Muslim Futures carried out many activities in conjunction with one or more partner organisations. Some are listed below:

• Extensive and co-ordinated food-pack distribution throughout the year to needy communities in Bangladesh, Pakistan and Palestine, including community-based initiatives.

• Sacrifice (Qurbani) meat / food distribution in Tanzania, Cameroon, Central African Republic and Gaza.

• Orphan Sponsorship in Tanzania.

• Water pump projects across Pakistan and Bangladesh.

• Direct payments of Zakat to needy families in Gaza and the disabled in Pakistan.

• Dignity & Welfare support for the Rohingya refugees in Bangladesh, orphaned students in Tanzania, and displaced families in Palestine.

• Liaised with a local Palestinian charity to share children’s Eid gifts and support a cleft palate surgery for a child.

• Community based Cataract Eye Camp project in Pakistan.

• Distribution of donated clothing to HM Prison Service and Refugee Baby Clinic in Birmingham, UK, along with continued collection of toys, books and clothing for re-distribution as a part of our ‘Comfort at Home’ initiative.

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MUSLIM FUTURES,

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

Achievements and performance

For a small charity with a limited income and a membership of just over 100 members, achievements can often be difficult to quantify. With so many worthy causes, each donation is very highly regarded and every penny spent is carefully considered. In spite of this the Trustees are pleased with share some successes here:

• A total of £36,834 raised in voluntary income in 2020-2021, a huge increase of 119.46% on the previous year.

• £2,439 claimed in Gift Aid, and £3,372 raised through additional grants, compensation payments and donation matching schemes, to achieve an overall 2020-2021 income of £42,669.

• An excellent 56/44 split in income raised between restricted Zakat and un-restricted voluntary income, demonstrating the strength of our legitimacy as a charity that is trusted to distribute Zakat donations.

• Increased our reach to donors to include fund-raising platforms, crowd-funding organisations and donation-matching services.

• A significant ‘Sadaqah Jariyah’ and Zakat based project designed to carry out the wishes of a family in the name of their late father. This consisted of a water pump project, food aid packages for 55 families over 3 months, thermal blankets and hygiene kits for Rohingya refugees in Bangladesh. In addition, we also organised, funded and delivered a community led Cataract Eye Camp, arranged in April 2021 in Okara, Pakistan. Over 2 days, it delivered 243 Out-Patient diagnoses, distributed 87 pairs of glasses and performed 31 cataract eye surgeries.

• Project visit to Pakistan in February, to identify and confirm new project delivery partnerships. Following due diligence, this resulted in confirmed projects with 3 new partners, helping Muslim Futures to offer further avenues to donors for the distribution of donor income across a wider range of project options.

• Carried out Aqeeqah sacrifices on behalf of donors across Pakistan.

• Ongoing orphan sponsorship agreements for 4 orphans in Tanzania, whilst at the Children’s Eco-Village in Tanzania, we supported one of the resident orphan students who was coming to the end of her studies to set up a livelihoods project for her and her needy family.

• Embarked on an ambitious and co-ordinated strategy, in partnership with a new project partner to distribute over 6 tonnes of food-packs and supply and install 100 electric water-pumps into the homes of the poor and needy families during Ramadan. For a value-driven cost of £150 per household, in less than 1 month we raised £15,000 to deliver this much needed food support and water resource to 149 different households or recipients across the district of Toba Tek Singh, Pakistan, who would normally struggle to meet their basic daily needs.

• Following the successful Ramadan Appeal, Muslim Futures then further supported 100 poor and needy families in the Okara district of Pakistan with 35kg food packs, totalling 3.5 tonnes of foodstuffs.

• Identified, and committed to a one-year legacy project, which will centre on the monthly support of the ongoing daily needs of 6 poor and vulnerable families in Pakistan, who also have specific medical and health needs.

• With the help of 2 new project partners, Muslim Futures was able to effectively reach further project opportunities to distribute Zakat and other basic necessities to vulnerable and displaced families in Gaza and wider Palestine, including a small health-based project request by a donor.

• In a unique year, Eid-ul-Adha fell twice within this reporting period; due to the shifting nature of the Islamic Calendar, Qurbani in 2020 fell on July 31st, whilst Qurbani in 2021 was on 20th July. Qurbani 2020 raised £4,260 to feed over 1,000 households, and nearly 5,920 of the poorest people in needy communities with meat in Tanzania, Cameroon and Gaza, whilst in 2021, we reached a milestone of 100 Qurbani shares, raised £5,575, and distributed approximately 1,980kg of meat to reach 660 households, equating to over 9,900 needy people across Tanzania, Cameroon, Central African Republic and Gaza. Smaller, healthier animals, producing more meat per animal kg, allowed us to feed more people than ever this year, a strategy we intend to continue.

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MUSLIM FUTURES,

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

• Working in partnership with local UK donors, the wider community and local refugee hostels in East London we serve as a donation hub for used second-hand men’s clothes to distribute amongst arriving refugees from Afghanistan and elsewhere. In one month, we managed to collect, sort and re-distribute over 1 tonne of clothing, footwear, toys, household and baby items to needy refugees in hostels around the South-East.

• Continued collecting good quality second-hand clothes, shoes, toys and baby/toddler items, with onward distribution in the UK to HM Prisons service and a refugee shelter in Birmingham. Also sent shipments to Pakistan to be distributed amongst the poor and needy, using our local volunteers and partners on the ground.

Financial review

Our overall objectives in relation to fundraising was to maximise the amount of voluntary income raised and to ensure that we did so at a reasonable cost:income ratio.

• Our total income for the year was £42,669 (2019-20; £23,601), inclusive of Gift Aid.

• Our direct charitable expenditure (donations distributed) during the year was £39,823 (2019-20; £19,040).

• Our administration and expenditure costs were £1,811 (2019-20; £180) which also included exceptional costs of capital expenditure on IT equipment.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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MUSLIM FUTURES,

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

Structure, governance and management

The charity is currently an Unincorporated Association and is governed by its document of governance, entitled “Constitution”, drafted and amended in accordance with guidance from the Charity Commission of the UK, dated as adopted on the 16th October 2020, replacing the previous document of governance dated 27th August 2010.

The trustees who served during the year and up to the date of signature of the financial statements were: Naveed Siddique

Freeda Yousaf

Ummar Yousaf

New Trustees are appointed by majority decision. Normally Trustees are people who already have an existing involvement with, and knowledge of, the charity. Induction meetings for new Trustees are held prior to their first Board meeting. The Trustees meet three times each year. Other ad-hoc meetings and telephone conferences involving either the whole Board or selected members of The Trustees are also held as required. Office bearers are responsible for the day to day running of the charity and manage the staff and volunteers of the charity on behalf of the Trustees.

Chair of Trustees - Ummar Yousaf Secretary- Freeda Yousaf Treasurer- Naveed Siddique

The trustees r eport was approved by the Board of Trustees.

Ummar Yousaf

Trustee

26 April 2022

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MUSLIM FUTURES,

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MUSLIM FUTURES,

I report to the trustees on my examination of the financial statements of Muslim Futures, (the charity) for the year ended 31 July 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Forhad Ahmed, FCA

AGP Consulting

Q West Great West Road Brentford TW8 0GP

Dated: 26 April 2022

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MUSLIM FUTURES,

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021

		Unrestricted	Unrestricted
		funds	funds
		2021	2020
	Notes	£	£
Income from:
Donations and legacies	3	42,645	23,601
Interest Received	4	23	-
Total income		42,668	23,601
Expenditure on:
Charitable activities	5	40,835	18,791
Net income for the year/
Net movement in funds		1,833	4,810
Fund balances at 1 August 2020		23,691	18,881
Fund balances at 31 July 2021		25,524	23,691

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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MUSLIM FUTURES,

BALANCE SHEET

AS AT 31 JULY 2021

Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Net current assets Total assets less current liabilities Income funds Unrestricted funds	2021 £ 20 24,276 24,296	£ 1,228 24,296 25,524 25,524 25,524	2020 £ - 23,262 23,262	£ 429 23,262 23,691 23,691 23,691

The financial statements were approved by the Trustees on 26 April 2022

Ummar Yousaf Trustee

• 7 -

MUSLIM FUTURES,

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

Charity information

Muslim Futures, is an Unincorporated Association and is governed by its document of governance, entitled “Constitution”, drafted and amended in accordance with guidance from the Charity Commission of the UK, dated as adopted on the 16 th October 2020, replacing the previous document of governance dated 27 th August 2010.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). 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 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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MUSLIM FUTURES,

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

MUSLIM FUTURES,

1 Accounting policies

(Continued)

1.9 Financial instruments

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

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 estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Donations and gifts	42,645	23,601

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MUSLIM FUTURES,

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

4 Interest Received

	Unrestricted	Total
	funds
	2021	2020
	£	£
Interest receivable	23	-

5 Charitable activities

Donations made Share of support costs (see note 6) Support costs Support costs Governance costs £ £ Advertising and Promotion 42 - Printing & Stationary and Postage & Delivery 162 - Processing Services 110 - Legal and Professional 50 - Telecoms & Data Services 29 - Travel 620 - 1,013 - Analysed between Charitable activities 1,013 -	Charitable Expenditure Charitable Expenditure 2021 2020 £ £ 39,822 18,611 1,013 180 40,835 18,791 2021Support costs Governance costs 2020 £ £ £ £ 42 126 - 126 162 9 - 9 110 45 - 45 50 - - - 29 - - - 620 - - - 1,013 180 - 180 1,013 180 - 180

6 Support costs

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MUSLIM FUTURES,

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

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

The average monthly number of employees during the year was:

	The average monthly number of employees during the year was:
		2021	2020
		Number	Number
	Total	-	-
	There were no employees whose annual remuneration was more than £60,000.
9	Tangible fixed assets
		Fixtures	and fittings
			£
	Cost
	At 1 August 2020		429
	Additions		799
	At 31 July 2021		1,228
	Carrying amount
	At 31 July 2021		1,228
	At 31 July 2020		429
10	Debtors
		2021	2020
	Amounts falling due within one year:	£	£
	Other debtors	20	-
11	Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .

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