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2025-04-30-accounts

Charity registration number: 1192578 Company registration number: 11960360

IAC UK

(A CHARITABLE COMPANY LIMITED BY GUARANTEE)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

IAC UK

CONTENTS

FOR THE YEAR ENDED 30 APRIL 2025

_______________

Pages
Legal and Administrative Information 2
Trustees’/Directors’ Report 3 - 7
Independent Examiner’s Report 8 - 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Financial Statements 13 - 21

1

IAC UK

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 APRIL 2025

_______________

Trustees/Directors Dr Junaid Mohammad Azam
Abadul Haque
Imran Farooq
Mohammad Zaheer Yaqoob
Imran Khalid (appointed on 12/12/2024)
Principal Address Kings Court
17 School Road
Birmingham
B28 8JG
Charity registration number: 1192578
Company registration number: 11960360
Independent Examiner Wahid Gazge FCA
Cliveden Avenue
Birmingham
B42 1SW
Bankers Barclays Bank Plc
Birmingham
B14 7LA

2

TRUSTEES’/DIRECTORS’ REPORT FOR THE YEAR ENDED 30 APRIL 2025

IAC UK

_______________

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their report and independently examined financial statements for the year ended 30 April 2025.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), 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).

Structure, governance and management

Governing document/Constitution

IAC UK (working names ‘International Aid Charity’ and ‘International Aid Charity UK’) is a charitable company and is also registered as a charity. The company was incorporated on 24 April 2019 (Company number 11960360) and established under a Memorandum of Association (as last updated on 23 November 2020), which established the objects and powers of the charitable company and is governed under its Articles of Association. The charity was registered with the Charity Commission on 30 November 2020, with Charity number 1192578.

Recruitment and training of Trustees/Directors

The Board of Trustees/Directors currently consists of four members who were recruited due to their commitment and expertise. Role descriptions, where applicable, are issued to each Trustee and a full induction is given setting out the obligations of a Trustee. The list of current Trustees/Directors can be found on page 2 of this document.

Trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The Charity is principally based in Birmingham (UK) but works with donors and organisations across the United Kingdom and abroad. The Trustees/Directors are responsible for the governance of the Charity, and the day-to-day management is performed by a team of volunteers and consultants when required.

Volunteers

The charity is being run through the kind help of many committed volunteers making up the equivalent time of at least three full time employees. The Trustees/Directors would like to thank all the volunteers without whom the Charity would not be able to run.

3

TRUSTEES’/DIRECTORS’ REPORT FOR THE YEAR ENDED 30 APRIL 2025

IAC UK

_______________

Related parties

There were no related party transactions in the year or the prior year.

Keys risks and uncertainties

The Trustees/Directors actively review the major risks which the Charity faces on a regular basis, in particular those relating to its operations and finances. They are satisfied that systems are in place to mitigate the charity’s exposure to the major risks. The risk management strategy comprises:

The strategy will be reviewed regularly by the Trustees/Directors.

Aims, objectives and activities

Aims, objectives and intended impacts

Objects:

(1) The prevention or relief of poverty, anywhere in the world, by:

(a) Providing grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty;

(b) Providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be selfsufficient; and

(c) Developing the capacity and skills of the members of any socially and economically disadvantaged community, anywhere in the world, in such a way that they are better able to identify and help meet their needs and to participate more fully in society.

(2) To advance the Islamic religion for the public benefit, anywhere in the world, in accordance with the ‘ahl-us-sunnah wal-jamma’ah’ methodology as understood by mainstream Sufi traditions, mainly but not exclusively through the holding of prayer meetings, lectures, and producing and/or distributing literature on Islam, to enlighten others about the traditional orthodox Islamic religion.

4

IAC UK

TRUSTEES’/DIRECTORS’ REPORT FOR THE YEAR ENDED 30 APRIL 2025

_______________

Public benefit statement

The section of this report above entitled ‘Aims, objectives and activities’ sets out the aims and priorities of the Charity. The Trustees/Directors have considered this matter, in conjunction with the guidance contained in the Charity Commission’s general guidance on public benefit, and have concluded:

Review of achievements and performance for the year

Food Aid

During the year to 30 April 2025, the primary focus continued to be to provide food aid to refugees and orphans in and around Turkey through our Food Box distribution campaigns including the vital help given over the bitterly cold months through our Winter Food Box programme which sees us deliver thousands of boxes of food supplies but also winter blankets and coal bags for heating. We have had a number of trips this year with dozens of volunteers joining us in Turkey for the distribution work and to see the work and needs of the community in Reyhanli (Antakya) first hand. Furthermore, like last year, the charity also provided food aid through our Qurbani campaign in deprived areas within Malawi, Pakistan and Kenya but also extended the programme to include new countries by working in Bangladesh, Cameroon and Yemen.

Orphans Aid

IAC UK has begun work on a more Orphan specific help programme and is jointly working on a new Digital Application which will help to monitor and give feedback to our donors regarding our Orphans programme in Turkey. We have also started work to support Orphanages in Pakistan and Kenya, in order to expand our one-to-one orphan sponsorship programme by first starting one off programmes in the new locations.

Delivery partners

IAC USA, IAC Turkey, Sustainable Aid Foundation (Malawi), Star of Hope Association (Kenya) and Helping Little Angels (Pakistan), UDES (Cameroon) and Islamic Help (Bangladesh & Yemen). The charity would like to thank its many delivery partners in the UK and abroad for helping IAC UK to fulfil its projects through their networks.

5

TRUSTEES’/DIRECTORS’ REPORT FOR THE YEAR ENDED 30 APRIL 2025

IAC UK

_______________

Financial review

The principal source of funding for the Charity is from individual donors. Voluntary donations received in the period amounted to £804,396 (2024: £624,005). This increase is due mainly to the current year containing one-off exceptional gift aid income from collected from the prior years. Charitable expenditure in the period came to £729,029 (2024: £497,151). Support costs are kept under tight control and monitored regularly.

Reserves Policy

The Charity holds unrestricted funds which have been provided to the charity via donations and charitable activities. Under the terms of the donations, the charity must retain the assets in perpetuity and can only use the income to support its charitable activities.

The unrestricted funds represent income earned but not yet utilised in supporting charitable activities. At 30 April 2025, the charity held unrestricted and undesignated reserves of £247,448 (2024: £6,702). Restricted funds at the end of the period came to £519,163 (2024: £710,936).

Going Concern

The Charity reported a cash inflow for the period of £298,549 (2024: Inflow of £46,286) due to spending collected funds from prior years and expects to make an inflow in the coming year. After making further appropriate enquiries and gaining assurances over income levels, the Trustees/Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and at least 12 months, as required, from the date of the signing of these financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Future plans

The Charity intends to continue with the projects it has started and to grow them further, whilst looking into new avenues of work both by adding more projects and also by expanding our work into new countries in the forthcoming year.

Orphans & Education Funds - The charity raised funds in the prior years through fundraising campaigns to support Orphans and also Education and is in the latter process to design projects with its partners to help deliver targeted and planned help in the near future.

Emergency relief - We will continue to work with our teams and partners in the region of Turkey to help distribute the funds collected for Syrian refugees in the most appropriate manner to meet both immediate and longer term needs of the earthquake survivors. We also look to expand our disaster relief work around the world and build up a new team for this.

Water Aid - IAC UK began work to start a Water Wells programme in Pakistan and started this off last year by commissioning two water wells to be completed by the end of 2024. We now intend to roll out the programme on our website for 2025 onwards.

6

TRUSTEES’/DIRECTORS’ REPORT FOR THE YEAR ENDED 30 APRIL 2025

IAC UK

_______________

Statement of Trustees/Directors’ responsibilities

The Trustees/Directors are required to prepare financial statements for each financial year in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of resources, including the net income and expenditure for the year. In preparing those financial statements, the Trustees/Directors are required to:

The Trustees/Directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and all other applicable law. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Accounts preparation

The Trustees/Directors confirm that the accounts comply with current statutory requirements, and with those of the governing instrument.

This report was approved by the Trustees/Directors on 25 September 2025 and signed on their behalf, by:

Abadul Haque Trustee

7

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 30 APRIL 2025

IAC UK

_______________

Independent Examiner’s Report to the Trustees/Directors of IAC UK

I report on the financial statements of the charity for the year ended 30 April 2025 are set out on pages 10 to 21.

This report is made solely to the charity’s Trustees/Directors, as a body, in accordance with section 145 and the regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s Trustees/Directors those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees/Directors as a body, for my work, for this report, or for the opinions I have formed.

Respective Responsibilities of Trustees/Directors and Examiner

The Trustees/Directors are responsible for the preparation of the financial statements. The Trustees/Directors consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

Having satisfied myself that the company is not subject to audit under charity or company law and is eligible for independent examination, it is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the Trustees/Directors, concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.

8

IAC UK

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 30 APRIL 2025

_______________

Independent Examiner’s Statement

In the course of my examination, no matter has come to my attention:-

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Signed on 25 September 2025:

Wahid Gazge FCA

Cliveden Avenue Birmingham B42 1SW

9

IAC UK

STATEMENT OF FINANCIAL ACTIVITIES (Income & Expenditure Statement) FOR THE YEAR ENDED 30 APRIL 2025

_______________

Unrestricted Restricted
Total		 Unrestricted Restricted Total
Funds Funds 2025 Funds Funds 2024
Note £ £ £ £ £ £
Income from:
Donations and legacies 2
386,542 417,854		 804,396 68,214 555,791 624,005
_ _ __ __ __ __
Total income 386,542 417,854 804,396 68,214 555,791 624,005
_ _ __ __ __ __
Expenditure on:
Raising funds 3 26,214 -
26,214		 13,818 - 13,818
Charitable activities 4 119,582 609,627 729,209 83,753 413,398 497,151
_ _ __ __ __ __
Total expenditure 145,796 609,627 755,423 97,571 413,398 510,969
_ _ __
__		 __ __
Net income/(expenditure)
before transfer 240,746(191,773) 48,973 (29,357) 142,393 113,036
Transfers between funds
- - - - - -
_ _ __ __ __ __
Net movement in funds 240,746(191,773) 48,973 (29,357) 142,393 113,036
Reconciliation of funds
Total funds brought forward 6,702 710,936 717,638 36,059 568,543 604,602
_ _ __ __ __ __
Total funds carried forward 247,448 519,163 766,611 6,702 710,936 717,638
_ _ __ __ __ __

The notes on pages 13 to 21 form part of these financial statements.

10

IAC UK

BALANCE SHEET AS AT 30 APRIL 2025

_______________

2025 2024
Note £ £ £ £
Current assets
Debtors 8 348,272 2,000
Cash at bank and in-hand 14 419,589 718,138
__ __
767,861
720,138
Current liabilities
Creditors (due within 1 year) 9 1,250 2,500
__ __
Net current assets 766,611 717,638
__ __
Net assets 766,611 717,638
__ __
Funds
Unrestricted funds: General reserve 10,11
247,448 6,702
Restricted funds 10,11
519,163 710,936
__ __
766,611 717,638
__ __

The notes on pages 13 to 21 form part of these financial statements.

The financial statements were approved by the Trustees/Directors on 25 September 2025 & signed on their behalf, by:

Abadul Haque Trustee

11

IAC UK

CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 APRIL 2025

_______________ _______________ _______________ _______________
Note 2025
2024
£ £
Cash flows from operating activities:
Net cash provided by operating activities 13 (298,549) 46,286
__ __
Cash flows from investing activities:
None - -
__ __
Net cash provided by investing activities - -
__ __
Increase / (decrease) in cash & cash equivalents
in the reporting period (298,549) 46,286
__ __
Cash & cash equivalents at the beginning of
the reporting period 718,138 671,852
__ __
Cash & cash equivalents at the end of the
reporting period 14 419,589 718,138
__ __

The notes on pages 13 to 21 form part of these financial statements.

12

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

1. Accounting policies

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The following principal accounting policies have been applied:

a) Incoming resources

Income includes the total funds received during the period and comprises donations collected directly or by volunteers and income from fundraising events. Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.

Income tax reclaimable under the Gift Aid Scheme is recognised on an accruals basis once income is considered probable.

Donors are given the option to restrict their donation when it is made. Any Gift Aid claimed on restricted donations is classed as unrestricted income.

b) Resources expended and basis of allocation

Expenditure is included when incurred and has been shown in the Statement of Financial Activities inclusive of non-recoverable Value Added Tax.

Expenditure on operational programmes is recognised in the period in which it is incurred.

Currently all costs are directly attributable to specific activities, but where required, certain shared costs will be apportioned to general funds and activities in furtherance of the objects of the Charity.

c ) Funds accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees/Directors in furtherance of the general objectives of the company and which have not been designated for other purposes.

13

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

c ) Funds accounting (cont.)

Designated funds are unrestricted funds earmarked by the Trustees/Directors for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

d) Tangible Fixed assets

Tangible fixed assets are depreciated per the following rates:

Furniture & Equipment - 20% annually on a straight-line basis

Tangible assets bought for less than £1,000 are not capitalised.

e) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount. Prepayments are valued at the amount paid in advance net of any trade discounts.

f) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

g) Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

h) Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the Financial Statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The directors consider that there are no significant areas of key judgement or estimation uncertainty.

14

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

2. Donations and legacies

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Voluntary donations 386,542 417,854 804,396 552,005
Legacies - - - 72,000
___ ___ ___ ___
386,542 417,854 804,396 624,005
___ ___ ___ ___
2(A). Analysis of voluntary donations income
By activity Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Zakat distribution - 50,770 50,770 66,387
Food Aid (incl. Qurbani & Fitrana) - 293,129 293,129 241,021
Orphans Fund - 3,174 3,174 4,832
Emergency Aid - 66,805 66,805 197,316
Scholars Fund - 262 262 845
Education Fund - 395 395 428
Widows & Torture survivors fund - 3,115 3,115 -
Prosthetic limbs fund - 204 204 -
Water Projects - - - 2,000
Donated card fees 4,552 4,552 3,586
General Sadaqah funds (including gift aid) 381,990 - 381,990 35,590
___ ___ ___ ___
386,542 417,854 804,396 552,005
___ ___ ___ ___

15

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

3. Raising funds

3. Raising funds
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Fundraising & marketing costs
 26,214 - 26,214 13,818
___ ___ ___ ___
26,214 - 26,214 13,818
___ ___ ___ ___
4. Charitable expenditure
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Grants distributed 26,014 609,627 635,641 423,398
Support costs 93,568 - 93,568 73,753
___ ___ ___ ___
119,582 609,627 729,209 497,151
___ ___ ___ ___
4(A). Analysis of grants distributed
By activity Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Food Aid (incl. Qurbani and Food Zakat) - 373,572 373,572 379,398
General Zakat distribution - 129,028 129,028 -
Emergency Aid - 82,196 82,196 -
Orphans Aid - 20,000 20,000 32,000
Water Aid - - - 2,000
Da’wah & education 26,014 4,831 30,845 10,000
___ ___ ___ ___
26,014 609,627 635,641 423,398
___ ___ ___ ___

16

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

4(B). Support costs

4(B). Support costs
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Volunteers costs 9,644 - 9,644 15,800
Consultancy costs 36,000 - 36,000 36,300
Office costs 9,560 - 9,560 501
Governance costs 38,364 - 38,364 21,072
___ ___ ___ ___
93,568 - 93,568 73,753
___ ___ ___ ___
5. Net incoming resources for the year
2025 2024
£ £
This is stated after charging:-
Independent examiner’s fee 1,250 1,250
___ __

6. Staff & Trustees/Directors costs

There were no employees in the period (2024: None).

During the period £NIL of expenses were incurred for the reimbursement of Trustees’/Directors’ expenses (2024: £Nil). The Trustees/Directors received no other remuneration for this period or the prior period.

7. Volunteers

The charity is being run through the kind help of many committed volunteers. The Trustees/Directors would like to thank all the volunteers without whom the Charity would not be able to run, including those who have been personally involved in carrying out distribution of aid, having spent their own time overseas.

8. Debtors

8. Debtors
2025 2024
£ £
Gift aid recoverable 348,272 -
Sundry debtors - 2,000
___ ___
348,272 2,000
___ ___

17

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

9. Creditors (due within one year)

2025 2024
£ £
Accruals 1,250 2,500
___ ___
1,250 2,500
___ ___
10. Statement of funds
Brought Incoming Resources Fund Carried
forward resources expended transfers forward
£ £ £ £ £
2024-25: Current year
(a) Restricted funds
Zakat – General 78,258 50,770 (129,028) - -
Zakat – UK
 8,443 -
-		 - 8,443
Food Aid (incl. Qurbani) 80,443 293,129 (373,572) - -
Orphans Fund 54,592 3,174 (20,000) - 37,766
Education Fund 2,715 395 (3,110) - -
Scholars Fund 1,459 262 (1,721) - -
Turkey/Syria Fund 291,967 32,602 (42,196) - 282,373
Gaza Fund 83,000 34,203 - - 117,203
Morocco Fund 54,209 - (40,000) - 14,209
Widows & Torture Survivors 5,720 3,115 - - 8,835
Prosthetic Limbs 901 204 -
-		 1,105
Fields of Belonging (UK) 9,229 -
-
-		 9,229
Legacy funds 40,000 - - - 40,000
__ __ ___ ___ ___
Total restricted funds 710,936 417,854 (609,627) - 519,163
__ __ ___ ___ ___

18

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

10. Statement of funds (continued)

2023-24: Prior year

(a) Restricted funds
Zakat – General
Zakat – UK

Food Aid (incl. Qurbani)
Orphans Fund
Education Fund
Scholars Fund
Emergency Aid
Water Aid
Fields of Belonging (UK)
Other funds

Total restricted funds

2024-25: Current year
(b) Unrestricted funds
General reserve


Total funds*


2023-24: Prior year
(b) Unrestricted funds
General reserve


Total funds

 11,871
8,443
217,828
81,760
2,287
614
232,499
-
9,229
4,012
_
568,543
_
Brought
forward
£
6,702
__
6,702
__
36,059
__
36,059
 66,387
-
241,021
4,832
428
845
197,316
2,000
-
42,962
_
555,791
_
Incoming
resources
£
386,542
__
386,542
__
68,214
__
68,214
 -
-
(379,398)
(32,000)
-
-
-
(2,000)
-
-
_
(413,398)
_
Resources
expended
£
(145,796)
___
(145,796)
___
(97,571)
___
(97,571)
 -
-
-
-
-
-
-
-

-
-
_
-
_
Fund
transfers
£
-
___
-
___
-
___
-
 78,258
8,443
79,451
54,592
2,715
1,459
429,815
-
9,229
46,974
_
710,936
_
Carried
forward
£
247,448
___
247,448
___
6,702
______
6,702

19

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

11. Analysis of net assets between funds

(a) Current year
 Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 30 April 2025 are represented by:
Net current assets
 247,448 519,163 766,611
__ __ ___
Total funds
 247,448 519,163 766,611
__ __ ___
(b) Prior year
 Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 30 April 2024 are represented by:
Net current assets
 6,702 710,936 717,638
__ __ ___
Total funds
 6,702 710,936 717,638
__ __ ___
12. Related parties
There were no related party transactions in the period.
13. Reconciliation of cash flows from operating activities
2025 2024
£ £

Net income / (expenditure) for the reporting period
48,973 113,036
(Increase) / decrease in debtors (346,272) 4,000
Increase / (decrease) in creditors (1,250) (70,750)
___ ___
Net cash provided by operating activities (298,549) 46,286
___ ___

20

IAC UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

_______________

14. Analysis of cash and cash equivalents
2025 2024
£ £
Cash at bank and in hand 419,589 718,138
___ ___
Total of cash and cash equivalents 419,589 718,138
___ ___
14A. Analysis of changes in net debt
At start Cash flows At end
of year in year of year
£ £ £
Cash at bank and in hand
 718,138 (298,549) 419,589
___ ___ ___
Total of cash and cash equivalents
 718,138 (298,549) 419,589
___ ___ ___

21