**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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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... Page 6 **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... Page 10 **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... Page 11 **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... Page 12 **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... Page 13 **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... Page 14 **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** ## **Action** 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 Hashim Shad opened the document email. (86.157.235.165) Tariq Mehmood opened the document email. (86.157.235.165) Tariq Mehmood opened the document email. (86.157.235.165) Hashim Shad opened the document email. (86.157.235.165) Hashim Shad opened the document email. (83.104.128.8) Hashim Shad viewed the envelope (83.104.128.8) Hashim Shad signed the envelope (83.104.128.8) Tariq Mehmood opened the document email. (83.104.128.8) Tariq Mehmood viewed the envelope (83.104.128.8) Tariq Mehmood signed the envelope (83.104.128.8) Faraz Raza opened the document email. (104.28.40.147) Faraz Raza viewed the envelope (104.28.86.105) Wed, 28th Jan 2026 21:03:27 GMT Wed, 28th Jan 2026 21:03:27 GMT Wed, 28th Jan 2026 21:03:27 GMT Wed, 28th Jan 2026 21:03:27 GMT Wed, 28th Jan 2026 21:03:27 GMT Wed, 28th Jan 2026 21:03:27 GMT Faraz Raza signed the envelope (104.28.86.105) This envelope has been signed by all parties (104.28.86.105) Signed document confirmation emailed to party email (104.28.86.105) Signed document confirmation emailed to party email (104.28.86.105) Signed document confirmation emailed to party email (104.28.86.105) Signed document confirmation emails have been sent to all parties. Document URL: https://api.signable.app/shareable/envelope?t=17cd7f87-36ab-4c03-a6f4-a a8cac9f9bb9 (104.28.86.105)