REGISTERED COMPANY NUMBER: 12001059 (England and Wales) REGISTERED CHARITY NUMBER: 1200159
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
WAQFOREVER
M Raza & Co.
WAQFOREVER
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Reference and Administrative Details | 1 to 2 |
| Report of the Trustees | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Cash Flow Statement | 8 |
| Notes to the Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10 to 15 |
| Detailed Statement of Financial Activities | 16 |
WAQFOREVER
Reference and Administrative Details FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES
Mohammad Hashim Shad Mohammad Yahya Amjad Hamza Saleem Ali Hammuda Tariq Mehmood
Charity’s Aims and Objectives
Waqforever is an Islamic charitable organisation established to provide long-term humanitarian relief through sustainable waqf (endowment) initiatives. The charity’s principal objective is to relieve poverty and hardship, with a particular focus on supporting affected communities in Palestine. Its activities include welfare support, medical assistance, education, and emergency relief, delivered with the intention of creating lasting public benefit.
Public Benefit Statement
The trustees confirm that Waqforever has operated for the public benefit throughout the reporting period. In carrying out its work, the trustees have had due regard to the Charity Commission’s guidance on public benefit. The charity’s activities are designed to alleviate suffering, promote wellbeing, and provide sustainable assistance to vulnerable individuals and communities.
Governance and Trustee Activities
Waqforever is governed by its Board of Trustees, who are responsible for setting strategic direction, ensuring compliance with regulatory requirements, and safeguarding the charity’s assets. During the year, the trustees focused on strengthening fundraising capacity, enhancing donor engagement, and preparing for the delivery of waqf-funded humanitarian programmes in Palestine. An important development this year was the expansion of the charity’s work to include medical aid in the form of prosthetic limbs, supporting those who have suffered lifealtering injuries.
Achievements and Performance
During the financial year, Waqforever received support from over 15,000 donors, raising in excess of £900,000. All donations received were treated as general funds and allocated as waqfrestricted funding, reflecting the charity’s commitment to long-term, sustainable impact. These funds have been designated for current and future humanitarian initiatives in Palestine.
Plans for Future Periods
Looking ahead, the trustees intend to progress from planning into delivery by implementing humanitarian projects, including prosthetic limb provision, while continuing to develop sustainable waqf initiatives. The charity remains committed to transparency, accountability, and responsible stewardship, recognising that entrusted funds represent both a public trust and, in faith terms, a form of .adaqah j.riyah.
Risk Management
The trustees have identified the principal risks facing the charity and keep these under regular review. Key risks include political instability in Palestine, which may affect access and delivery of aid, financial risk arising from economic uncertainty and fluctuations in donor income, and operational risks such as logistical or supply chain disruption. These risks are mitigated through prudent financial management, maintaining appropriate reserves, diversifying income sources, and working with trusted delivery partners.
Trustee Structure and Governance
The charity is governed by a Board of Trustees responsible for overall control, strategic direction, and compliance with legal and regulatory requirements. Trustees serve in a voluntary capacity and meet regularly to review the charity’s activities, performance, and risk management, ensuring that resources are applied in furtherance of the charity’s objectives.
Reserves Policy
The charity holds reserves to ensure continuity of operations and to manage unforeseen financial pressures. Reserves may also support the sustainability of long-term projects. The
Page 1
WAQFOREVER
Reference and Administrative Details FOR THE YEAR ENDED 31 MARCH 2025
trustees review the level of reserves on a regular basis to ensure they remain appropriate to the charity’s needs and planned activities.
Restricted and Unrestricted Funds
Restricted funds comprise donations received for specific purposes, particularly humanitarian support in Palestine. These funds are applied solely in accordance with the donor’s restrictions. Unrestricted funds are general donations that may be used at the trustees’ discretion to further the charity’s objectives, including meeting essential administrative and operational costs. General donations are managed in line with the charity’s waqf-based approach and long-term charitable purpose.
Donation Policy and Financial Stewardship
The charity operates a 100% donation policy under which public donations are applied directly to charitable activities. Administrative and operational costs are met through Gift Aid and other permitted income sources. The trustees maintain appropriate financial controls and oversight, supported by professional accounting input, to ensure funds are used transparently, responsibly, and in accordance with donor intentions.
COMPANY SECRETARY
REGISTERED OFFICE 10 Cefn Coed Road Cardiff CF23 6AQ REGISTERED COMPANY 12001059 (England and Wales) NUMBER REGISTERED CHARITY 1200159 NUMBER INDEPENDENT EXAMINER M Raza & Co.
Page 2
WAQFOREVER
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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).
STRATEGIC REPORT
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 January 2026 and signed on the board's behalf by:
Hashim Shad (Jan 28, 2026, 8:56pm)
Mohammad Hashim Shad - Trustee
Page 3
Independent Examiner's Report to the Trustees of WaqForever
Independent examiner's report to the trustees of WaqForever ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 accounts to be reached.
Faraz Raza (Jan 28, 2026, 9:03pm)
Faraz Raza
M Raza & Co.
- 29 January 2026
Page 4
WAQFOREVER
Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Unrestricted Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 846,915 100,486 947,401 16,172 87,411 103,583 843,818 1,055,410 1,899,228 |
Restricted fund £ - - - - - - - - - |
2025 Total funds £ 846,915 100,486 947,401 16,172 87,411 103,583 843,818 1,055,410 1,899,228 |
2024 Total funds £ 1,101,902 - 1,101,902 862 45,630 46,492 1,055,410 - 1,055,410 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
WAQFOREVER
Balance Sheet
31 MARCH 2025
| Notes FIXED ASSETS Investment property 10 CURRENT ASSETS Investments 11 Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 1,540,066 90,000 270,123 360,123 (961) 359,162 1,899,228 1,899,228 |
Restricted fund £ - - - - - - - - |
2025 Total funds £ 1,540,066 90,000 270,123 360,123 (961) 359,162 1,899,228 1,899,228 1,899,228 1,899,228 |
2024 Total funds £ 234,550 - 826,260 826,260 (5,400) 820,860 1,055,410 1,055,410 1,055,410 1,055,410 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2026 and were signed on its behalf by:
Hashim Shad (Jan 28, 2026, 8:56pm)
Mohammad Hashim Shad - Trustee
The notes form part of these financial statements
continued...
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WAQFOREVER
Balance Sheet - continued
31 MARCH 2025
Tariq Mehmood - Trustee
Tariq Mehmood (Jan 28, 2026, 8:58pm)
The notes form part of these financial statements
Page 7
WAQFOREVER
| Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2025 2025 Notes £ Cash flows from operating activities Cash generated from operations 1 728,629 Net cash provided by operating activities 728,629 Cash flows from investing activities Purchase of investment property (1,305,516) Income from investments 20,750 Net cash used in investing activities (1,284,766) Change in cash and cash equivalents in the reporting period (556,137) Cash and cash equivalents at the beginning of the reporting period 826,260 Cash and cash equivalents at the end of the reporting period 270,123 |
2024 £ 1,060,810 1,060,810 (234,550) - (234,550) 826,260 - 826,260 |
|---|---|
The notes form part of these financial statements
Page 8
WAQFOREVER
Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2025
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Income from investments Unlisted investments (Decrease)/increase in creditors Net cash provided by operations 2. ANALYSIS OF CHANGES IN NET FUNDS At 1/4/24 £ Net cash Cash at bank 826,260 826,260 Liquid resources Deposits included in cash - Current asset investments - - Total 826,260 |
2025 £ 843,818 (20,750) (90,000) (4,439) 728,629 Cash flow £ (556,137) (556,137) - 90,000 90,000 (466,137) |
2024 £ 1,055,410 - - 5,400 1,060,810 At 31/3/25 £ 270,123 270,123 - 90,000 90,000 360,123 |
|---|---|---|
The notes form part of these financial statements
Page 9
WAQFOREVER
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. DONATIONS AND LEGACIES
| Donations | 2025 £ 846,915 |
2024 £ 1,101,902 |
|---|---|---|
continued...
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WAQFOREVER
| Notes to the Financial Statements- continued | Notes to the Financial Statements- continued | ||||
|---|---|---|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2025 | |||||
| 3. | INVESTMENT INCOME | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Rents received | 79,736 | - | |||
| Curr asset inv income | 20,750 | - | |||
| 100,486 | - | ||||
| 4. | RAISING FUNDS | ||||
| Other trading activities | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Advertising | 16,172 | 862 | |||
| 5. | CHARITABLE ACTIVITIES COSTS | ||||
| Support | |||||
| costs (see | |||||
| note 6) | |||||
| £ | |||||
| Unrestricted | |||||
| 87,411 | |||||
| 6. | SUPPORT COSTS | ||||
| Governance | |||||
| Management | Finance | costs | Totals | ||
| £ | £ | £ | £ | ||
| Unrestricted | |||||
| 8,336 | 78,115 | 960 | 87,411 | ||
| 7. | NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) is stated after charging/(crediting): | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Auditors remuneration | - | 4,800 | |||
| Subscriptions | 735 | - |
continued...
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WAQFOREVER
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,101,902 EXPENDITURE ON Raising funds 862 Charitable activities Unrestricted 45,630 Total 46,492 NET INCOME 1,055,410 TOTAL FUNDS CARRIED FORWARD 1,055,410 10. INVESTMENT PROPERTY FAIR VALUE At 1 April 2024 Additions At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Restricted fund £ - - - - - - |
Total funds £ 1,101,902 862 45,630 46,492 1,055,410 1,055,410 £ 234,550 1,305,516 1,540,066 1,540,066 234,550 |
|
|---|---|---|---|
continued...
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WAQFOREVER
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025
| 11. CURRENT ASSET INVESTMENTS Unlisted investments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 13. MOVEMENT IN FUNDS At 1/4/24 £ Unrestricted funds Unrestricted 1,055,410 TOTAL FUNDS 1,055,410 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Unrestricted 947,401 TOTAL FUNDS 947,401 Comparatives for movement in funds Unrestricted funds Unrestricted TOTAL FUNDS |
|||
|---|---|---|---|
continued...
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WAQFOREVER
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds Unrestricted 1,101,902 (46,492) TOTAL FUNDS 1,101,902 (46,492) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1/4/23 in funds £ £ Unrestricted funds Unrestricted - 1,899,228 TOTAL FUNDS - 1,899,228 |
Movement in funds £ 1,055,410 1,055,410 At 31/3/25 £ 1,899,228 1,899,228 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds Unrestricted 2,049,303 TOTAL FUNDS 2,049,303 |
Resources Movement expended in funds £ £ (150,075) 1,899,228 (150,075) 1,899,228 |
|---|---|
continued...
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WAQFOREVER
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 15
WAQFOREVER
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Curr asset inv income Total incoming resources EXPENDITURE Other trading activities Advertising Support costs Management Subscriptions Venue hire Telephone Computer costs Professional fees Finance Donations Bank charges Merchant charges Governance costs Auditors' remuneration Accountancy and legal fees Total resources expended Net income |
2025 £ 846,915 79,736 20,750 100,486 947,401 16,172 735 - 47 180 7,374 8,336 48,000 347 29,768 78,115 - 960 960 103,583 843,818 |
2024 £ 1,101,902 - - - 1,101,902 862 - 500 11 1,471 300 2,282 - 63 37,885 37,948 4,800 600 5,400 46,492 1,055,410 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
Issuer
M Raza & Co
Document generated Wed, 28th Jan 2026 16:24:06 GMT
Document fingerprint 3dc028e0459f0f0b1dd685910d3a71cd
Parties involved with this document
Document processed
Party + Fingerprint
Wed, 28th Jan 2026 20:56:33 GMT Wed, 28th Jan 2026 20:58:07 GMT Wed, 28th Jan 2026 21:03:27 GMT
Hashim Shad - Signer (4a36ee0c6abfd0e5db07b137dea24d0d) Tariq Mehmood - Signer (5bb6c536512e930199780e7d3dca83a8) Faraz Raza - Signer (280be719fcae53b471ffdea955c5acb5)
Audit history log
Date
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Wed, 28th Jan 2026 16:24:06 GMT Wed, 28th Jan 2026 16:24:07 GMT
Wed, 28th Jan 2026 16:30:26 GMT Wed, 28th Jan 2026 16:30:26 GMT Wed, 28th Jan 2026 16:30:27 GMT Wed, 28th Jan 2026 16:30:27 GMT Wed, 28th Jan 2026 16:30:27 GMT Wed, 28th Jan 2026 16:30:27 GMT Wed, 28th Jan 2026 16:50:33 GMT Wed, 28th Jan 2026 16:50:33 GMT Wed, 28th Jan 2026 18:40:33 GMT Wed, 28th Jan 2026 18:40:47 GMT Wed, 28th Jan 2026 20:40:51 GMT Wed, 28th Jan 2026 20:55:48 GMT Wed, 28th Jan 2026 20:56:33 GMT Wed, 28th Jan 2026 20:56:45 GMT Wed, 28th Jan 2026 20:56:48 GMT Wed, 28th Jan 2026 20:58:07 GMT Wed, 28th Jan 2026 21:03:15 GMT Wed, 28th Jan 2026 21:03:18 GMT
Envelope generated by M Raza & Co (81.151.52.185) Document generated with fingerprint 3dc028e0459f0f0b1dd685910d3a71cd (81.151.52.185) Sent the envelope to Hashim Shad for signing (81.151.52.185) Document emailed to party email Sent the envelope to Tariq Mehmood for signing (81.151.52.185) Sent the envelope to Faraz Raza for signing (81.151.52.185) Document emailed to party email Document emailed to party email
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