Alyaqeen Trust Charity No. 1194768 Trustee's Report and Unaudlted Accounts 31January 2025 Alyaqeen Trust Contents Pages Trustee's Annual Report Independent Examiner's Report Balance Sheet Page I Alyaqeen Trust Trustees Annual Report The trustee presents their report with the unaudited financial statements of the charity for the year ended 31 January 2025. REFERENCE ANO AOMINISTRATIVE DETAILS Charlty No. 1194768 Trustee The following trustee served during the year: M. Khalid Habib Accountants A H Accountants Itd 394 Alfreton Raod NG7 SNE ACHIEVEMENTS AND PERFORMANCE A large charity must provide an explanation of any material expenditure occurred to raise income in the future... The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any tlme the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Charities (Accounts and Reports) Regulations. and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable Steps for the prevention and detection of fraud and other irregularitie5. Signed M. Khalid Hablb Trustee 31 January 2025 Page 2 Alyaqeen Trust Independent Examiners Report Independent Examlner's Report to the trustee of Alyaqeen Trust I report to the trustees on my examination of the financial statements of Alyaqeen Trust for the year ended 31 January 2025. Responsibilities and basis of report As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Art 20111'the Act'l. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451Sllbl of the Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: the accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the financial statements do not accord with those record5- or the financial statements do not comply with the applicable requirements concerning the form and Content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 understsndin8 of the financial statements to be reached. A H Accountants Itd 394 Alfreton Raod NG7 SNE 31 January 2025 Page 3 Alyaqeen Trust Statement of Flnanclal Activitles for the year ended 31 January 2025 Unrestrirted funds Total funds Total funds 2025 2025 2024 Notes Income and endowments from: Donations and legacies 5.703 5.703 11.502 Total 5,703 5,703 11,502 Expendlture on: Charitable activities 2,528 10,476 2,528 10,476 8,159 2SO Other Total 13,004 13,004 8,409 Net gains on investments Net lexpenditurellincome Transfers between funds 17,3011 17,3011 3,093 Net lexpendlturelllncome before other galn5111055e5) 17,3011 17,3011 3,093 Other galns and losses Net movement In funds 17,3011 17,3011 3,093 Reconclllatlon of funds.. Total funds brought forward 5,281 5,281 2,188 Total funds carrled forward 2.0201 12.0201 5,281 Page 4 Alyaqeen Trust Balance Sheet at 31 January 2025 Charity No. 1194768 2025 2024 Current assets Debtors Cash at bank and in hand 2.143 868 2,143 3,389 5,532 12511 5,281 3,011 15,0311 12.0201 12.0201 12,0201 Creditors: Amount falling due within one year Net current Illabllltles}lassets Totsl assets less current liabilities 5.281 Net Iliabilitiesl/assets excluding pension asset or liability Total net Iliabilitiesllassets 5,281 12.0201 5.281 The funds of the ¢harlty Restr5cted funds Unrestrl¢ted funds General funds Designated funds 17,3011 5.281 5,281 12,0201 5,281 Reseryes Totsl funds 12.0201 5,281 Approved by the trustees on 31 January 2025 And signed on their behalf by: M. Khalid Habib Trustee 31 January 2025 Page S Alyaqeen Trust Notes to the Accounts for the year ended 31 January 2025 l Accounting policies Basls of preparatlon The financial statement5 have been prepared in accordance with Statement of Recommended Prartice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK Jnd Republic if Ireland IFRS 1021 i55ued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Change in basis of accounting or to previous accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for Use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestrirted funds earmarked by the trustees for particular purposes. These are unrestricted fund5 which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported 8ross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gift5 is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaim5 on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income Iwith an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable. measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/llossesl on This includes any gain or loss resulting from revaluing investment5 to market value revaluation of fixed at the end of the year. assets Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 6 Alyaqeen Trust Notes to the Accounts Expenditure Recognition of expenditure Expenditure 15 recognised on an accruals ba515. Expenditure include5 any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of it5 activitie5 and charitable activities services in the furtherance of its objects. including the making of grants and governance costs. All grant expenditure is accounted for on an artual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, in¢luding any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. Grants payable Governance costs Taxatlon The charity is exempt from tax on its charitable artivities. Freehold Investment propertv Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willin8 to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with bank5 and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdraft5 are shown within borrowings or Current liabilities. In the Statement of Cash Flows. cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation re5ultin8 from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions a￿ normally recognised at their settlement amount after allowing for any trade discounts due. Page 7 Alyaqeen Trust Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Forelgn currencles Monetary assets and liabilities denominated in currencies other than the funrtional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded 3t the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net incomelexpenditure. Leased assets Where the charity enters into a lease which entails tsking substsntially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating lea5e5. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the Snception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation $0 as to achieve a constant rate of interest on ihe remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with ihe charity's policy on borrowing costs. A55ets held under finance leases are depreciated in the same way as owned assets. Operatin8 lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are reco8ni5ed as a liability. The a8gTe8ate benefit of incentives is retOBnised as a reduction of rental expense on a straight-line basis. Penslon costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment5 obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held Separately from the charity in independently administered fund5. Recelpt of donated goods, fadlltles and servlces All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Page 8 Alyaqeen Trust Notes to the Accounts 2 Statement af Flnantlal Actlvltles- prlor year Un￿Stricted funds Total funds 2024 2024 Income and endowments from: Donations and legacies Totsl 11,502 11,502 11,502 11,502 Expendlture on: Charitable activities 8.159 8.159 250 Other 250 Total 8.409 8.409 Net Income 3,093 3,093 Net income before other galnslllosse$l Other galns and losses: Net movement Sn funds 3,093 3,093 3,093 3,093 Re￿ncIliatIOn of funds., Total funds brought forward Totsl funds ¢arrled forward 2,188 2,188 5,281 5,281 3 Income from donatlons and le8acles Unrestrlrted Total Total 2025 2024 5,703 5.703 5,703 5.703 11,502 11,502 4 Expendlture on charltable actlvitles Unrestr5cted Total Total 2025 2024 Expenditure on charitable octivities 2.528 2,528 8,159 Governunce costs 2,528 2.528 8,159 Page 9 Alyaqeen Trust Notes to the Accounts 5 Other expendlture Unre5trirted Total Total 2025 2024 Premises costs 9,403 159 9,403 159 General administrative costs Legal and professional ¢osts 914 914 250 10,476 10,476 250 6 Staff costs No employee received emoluments in excess of £60,(M)). 7 Debtors 2025 2024 Trade debtors Prepayments and accrued income 2,143 2,143 2,143 2,143 8 Cred5tors: amount5 falling due within one year 2025 2024 Loans from trustees Accruals 4,781 250 251 5,031 251 9 Movement In funds Incomlng resour¢es At31 lin