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2024-07-31-accounts

education | literacy | skills | training | development | support | sponsorship | empowerment

Charity Registration No. 1191868

MUSLIM FUTURES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Charity Registration No. 1191868

MUSLIM FUTURES

CONTENTS

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Page
Legal and Administrative Information 3
Trustees Report 4 - 6
Accountants' Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10-15
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[2]

Charity Registration No. 1191868

MUSLIM FUTURES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Freeda Yousaf Salma Haq 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

[3]

Charity Registration No. 1191868

MUSLIM FUTURES

TRUSTEES REPORT

FOR THE YEAR ENDED 31 JULY 2024

The Trustees present their Annual Report and Financial Statements for the year ending 31[st] July 2024.

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 Constitution, 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[st] January 2019).

Objectives and Activities

The Muslim Futures vision continues to be centred on the concept of the alleviation of poverty and hardship through education and learning for all, where opportunities are created for personal development, selfempowerment, and societal improvement.

To fulfil this vision, Muslim Futures has established its Aims and Objectives as ‘Objects’ as defined in the amended Constitution. The Objects of the charity are,

“The prevention or relief of poverty or financial hardship, 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 and/or charities, or other organisations working to prevent or relieve poverty, relieve sickness, or advance education.”

There has been no change in these during the year.

In delivering these Objects, Muslim Futures continues to work with communities across the UK and internationally, in providing education, literacy, skills and training opportunities through support, development, sponsorship and empowerment, with a specific emphasis on child development, juvenile and youth support and supporting the sick, disabled, homeless, widowed, and orphaned.

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

During 2023-2024, Muslim Futures carried out many activities in conjunction with one or more partner organisations. Some are listed below:

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Charity Registration No. 1191868

Achievements and Performance

We are a small charity with a limited income and a small locally based core donor membership. Each donation is very highly regarded, and every penny spent is carefully considered. The Trustees are pleased to share some successes here;

The Trustees confirm that they have referred to the guidance on public benefit contained in documents produced by the Charity Commission, when reviewing the aims and objectives of the charity and planning future activities.

Financial Review

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

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 3- and 6- months’ 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 key critical risks to which the charity is exposed and are currently working diligently towards developing a stronger governance and operational structure to address current risks.

Future Development

The Trustees are satisfied with the continued progress and development of the Charity in relation to its stated objects.

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Charity Registration No. 1191868

The Charity was established to prevent or relieve poverty or financial hardship, relieve sickness, and advance education, and the Trustees are satisfied that the focus of the activities carried out meets these criteria.

Muslim Futures intends to continue its focus on organisational efficiency aimed at increasing investment in key longterm development projects and focus on fewer countries to further enable effective and efficient utilisation of resources. This means that our activities in the future will remain focused on areas of key impact and change to people’s lives, within specific locations, in pursuit of our aims and objectives, with a greater emphasis on education, literacy, learning, skills development, training and job creation. We believe our activities over the last year is still working towards these objectives and we continue to strengthen our links with project partners in Pakistan, Bangladesh and Palestine and are seeking to develop new relationships with delivering organisations in Afghanistan, Yemen and Turkey, for Syrian refugees.

The Trustees intend to continue their work to further enhance existing and new project activities based on the relationships and working models built with their project implementation partners. These relationships with our partners are vital to the long-term development and success of Muslim Futures and we recognise the value they bring to our team in helping us to deliver the donor’s intentions. The Trustees strive to work harder in this respect and develop a closer bond with each of the partners.

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 of October 2020, and as amended by resolution 5[th] November 2022, 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:

Freeda Yousaf Salma Haq 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 at least two 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. The charity has the following office-bearers:

Chair of Trustees - Ummar Yousaf Secretary - Freeda Yousaf

The Trustee’s Report was approved by the Board of Trustees.

Ummar Yousaf Date Trustee

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Charity Registration No. 1191868

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 2024.

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[st] 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 to enable a proper understanding of the financial statements to be reached.

Forhad Ahmed, FCA

Date 30[th] September 2025

AGP Consulting

Q West Great West Road Brentford TW8 0GP

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Charity Registration No. 1191868

MUSLIM FUTURES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Notes
Income from:
Donations and
Legacies
3
Interest Receivable
4
Total income
Expenditure on:
Charitable activities
5
Total Expenditure
Net income for year /
Net movement in
funds
Reconciliation
Funds:
Fund balance 1 Aug
2023
Fund balance 31 Jul
2024		 Restricted
2024
162,743
3,477
166,220
101,374
101,374
64,846
10,295
75,141		 Un-
Restricted
2024
36,944
-
36,944
21,422
21,422
15,522
50,271
65,793		 Total
Funds
2024
£
199,687
3,477
203,164
122,796
122,796
80,368
60,566
140,934		 Restricted
2023
89,341
222
89,563
77,095
77,095
12,468
(2,173)
10,295		 Un-
Restricted
2023
18,858
-
18,858
18,025
18,025
833
49,438
50,271		 Total
Funds
2023
£
108,199
222
108,421
95,120
95,120
13,301
47,265
60,566

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Charity Registration No. 1191868

MUSLIM FUTURES

BALANCE SHEET AS AT 31 JULY 2024

Notes
Fixed Assets
Tangible Assets
11
Current Assets
Cash at Bank and in hand
Net Current Assets
Total Assets less current liabilities
Income Funds
Restricted Funds
13
Unrestricted / General Funds
13
Total		 2024
£
140,675		 2024
£
259
140,675
140,934
75,141
65,793
140,934		 2023
£
59,746		 2023
£
820
59,746
60,566
10,295
50,271
60,566

The Financial Statements were approved by the Trustees on 30[th] September 2025

Ummar Yousaf Trustee

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Charity Registration No. 1191868

MUSLIM FUTURES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1. Accounting Policies

1.1. 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] of October 2020 and as amended by resolution 5[th] November 2022, replacing the previous document of governance dated 27[th] August 2010.

1.2. Accounting convention

The Financial Statements have been prepared in accordance with the charity's Constitution, 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[st] 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 Cashflows.

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 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 Great British Pounds 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 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.

1.3. Going concern

At the time of approving the Financial Statements, the Trustees have a reasonable expectation that the charity will have 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.

1.4. Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the stated charitable objectives.

Restricted funds are subject to specific conditions defined by donors at the point of donation as to how they may be used. The purposes and uses of the restricted and unrestricted 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.

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Charity Registration No. 1191868

1.5. 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.

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.

1.6. 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.

1.7. 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 to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings 25% reducing balance basis IT and Technology 33% reducing balance basis

The gain or loss arising from 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.

1.8. 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 to determine the extent of the impairment loss (if any).

1.9. 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.

1.10. Financial Instruments

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Charity Registration No. 1191868

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 payments 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 an effective interest rate method.

Trade creditors are obliged 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.

De-recognition of financial liabilities

Financial liabilities are de-recognised 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 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

Donations and Gifts Total
Funds
2024
£
199,687		 Total
Funds
2023
£
108,199

4 Interest Received

Interest Receivable Unrestricted
Funds
2024
£
3,477		 Unrestricted
Funds
2023
£
222

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Charity Registration No. 1191868

5 Charitable Activities

Direct Costs
Depreciation & Impairment
Donations Made
Share of support costs
(see note 6)
Analysis by Fund
Restricted
Un-Restricted
6
Support Costs		 Charitable
Expenditure
2024
£
560
99,890
100,450
22,346
122,796
101,374
21,422
122,796		 Charitable
Expenditure
2023
£
273
80,234
80,507
14,613
95,120
77,095
18,025
95,120
Support
Governance
Costs
Costs
2024
2024
£
£
Advertising & Promotion
8,969
-
Printing & Stationery
63
-
Postage & Delivery
251
-
Processing Services
1,783
-
Administration & Operations
4,114
-
Professional Fees
-
35
Staff and Volunteers
85
-
Office Equipment and IT
522
-
Rent and Rates
2,500
-
Telecoms and Data Services
319
-
Utilities
672
-
Travel
1,983
-
Motor Vehicle Expenses
678
-
Miscellaneous Expenses
372
-
22,311
35
Analysed between
Charitable activities
22,311
35
Net Movement in Funds
The net movement in funds is stated after charging / (charging):
Depreciation of owned fixed tangible assets
Loss on disposal of fixed asset		 Total
Costs
2024
£
8,969
63
251
1,783
4,114
35
85
522
2,500
319
672
1,983
678
372
22,346
22,346
2024
£
132
428		 Total
Costs
2023
£
6,419
85
168
1,272
-
35
-
-
2,500
225
595
2,876
-
438
14,613
14,613
2023
£
273
-

7 Net Movement in Funds

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Charity Registration No. 1191868

8 Trustees

None of the Trustees (see clause 14) received any renumerations or benefits from the charity during the year.

9 Employees

Employees
2024 2023
Number Number
The average monthly number of employees during the year was: 0 0
Total - -

There were no employees whose renumeration was more than £60,000.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects and all income is applied for charitable purposes.

11 Tangible Fixed Assets

Cost
At 1st August 2023
Disposals
At 31st July 2024
Depreciation & Impairment
At 1 August 2023
Depreciation charged in the year
At 31st July 2024
Carrying Amount
At 31st July 2024
At 31st July 2023
12
Debtors
Amounts falling due within one year
Other Debtors		 Fixtures & Fittings
£
1,457
(429)
1,028
637
132
769
259
820
2024
2023
£
£
-
-

13 Restricted and Unrestricted Funds

The charity records the income received in both restricted and unrestricted categories.

Restricted funds are subject to specific conditions defined by donors at the point of donation as to how they may be used.

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Charity Registration No. 1191868

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Current year
Restricted Funds
Unrestricted / General Funds
Total
Previous year
Restricted Funds
Unrestricted / General Funds
Total		 At 1 August
2023
£
10,295
50,271
60,566
At 1 August
2022
£
- 2,174
49,439
47,265		 Incoming
Resources
£
166,220
36,944
203,164
Incoming
Resources
£
89,564
18,857
108,421		 Resources
Expended
£
- 101,374
- 21,422
- 122,796
Resources
Expended
£
- 77,095
- 18,025
- 95,120		 At 31 July
2024
£
75,141
65,793
140,934
At 31 July
2023
£
10,295
50,271
60,566

14 Trustee and Related Party Transactions

During the year a charge for rental was paid to Mrs F Yousaf, who is a Trustee of the charity, of £2,500 (2022-2023; £2,500) which was an arm’s length charge for the use of her property as an office.

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