REGI￿ERED CHARITY I¥UMBER: 1201384 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL sfATEMENfs FOR THE YEAR ENDED 31 MARCH 2024 FOR QUWWAT.UblSLAM SOCIETY NEWHAM iA)NDON Prestons & Jackson5 Partnership LLP Swulory Auditors 364 - 368 Cranbrwk Koad Ilford Essex IG2 6HY QUWWAT.UL-JSLIM SOCIETY NEWHAM LONDOY4 CONTENTS OF THE FIIYANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 P*g¢ Report ofthe TThytee8 Report oftht Imdependenl Audltorj 9 to 11 S¢*tement of Finall¢l•l Actlvhles 12 nee Sheel 13 10 14 Caib Slat¢mtJ¢ 15 Iyotes to ¢h• C*ih Flow S¢*tem¢•t 16 Notes ¢0 the FIA*n¢l*l St*teme•ts 17 to 27 Detalled S¢a¢¢m¢At of ￿￿¥￿¢111 Aetlvi¢l 28 10 29 QUWWAT-u￿lSLAm SOCIETY NEWHAM LONDON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Th¢ tru￿ceS pres¢nt their report with the financial statements of the charity for the year ended 31 March 2024. The truslees have adopted the provisions of Accounting and Reporting by Charttie5.' Statement of Recommended PI￿tice applicable to cbarities pr¢parin8 their ￿￿o￿nts in accordanc¢ with the Finan¢ial Reporting Standard applicable in the UK and RepublTC of Ireland IFRS 102) (effective l January 2019). Note: Quwivat-ul-lslam Society Newhatn London were wted CIO Siatus on 19th December 2022. As per Charilies Commission, for Charitable Incorporated (hganisations (CIOB) in the UK, th¢ Charity Commission requires that the first annual general meeting (AGM) must b¢ held within 18 months of the Cl(Ys. Said meeting took place on Sunday 19th May 2024 and was Min￿d. HlJtory of QIS QIS was established over 35 years ago and the primary PUTpose at the time to provide a place for Friday prayer (Jumrnah) and religiou5 classe5 for the Muslim children. However. nobody envi58g¢d al the lime thts was the birth of one of the key Masjids in East London And especially in Newham. In 1975. Trinity Church Hall in Easi Sireet Manor Pwk was hired on a weekly ba515 to establish weckjy Friday Prayers organised by a handful of Muslims. As th¢ community grew and the demand in¢r¢ased. some key Community members ¢ourageously purchased a property on the corner of Up¢on Lane and Skelton Road in 1984. In 1986 the community took the opportunily io purchase 1 62-66 Upton Lane. This was a major step forward by the community which enabled ihem ￿ establish a solid foundation for QIS loday. 0￿EcT￿Es AI¥D A￿1VITIL$ Aimj The obje¢lives of QIS are set out in the charitys governing ¢onMitution documeni and is as follows: The Society is estAblished io thance the religion of Islam in acwrdance with the Quran and the Sunnah of Prophet Muhammad (Pea¢e be upon him), Ahle Sunnah Wal-jammah, following the Hanafi fiqh, Deobandi and Tablighi Jamaat to promote cultural and educational activilies lo provide a Masjid and other facilities to a high religious standard of education faciliti¢s and associated ceremonies. Objeetlvei QIS'S objectTves are guided by the Islami¢ faith And slrategles in how best to deliver this to ihe Community lo fulfil its charitable aims. After each annual g¢n¢ra] meeting (AGM). Trustees review obj¢¢tives und activities io ensure they continu¢ lo refled QIS s aims and ￿ part of this review. tr￿slee5 have considered the Charities Commission general guidance on publi¢ benefrt and in particular supplem¢ntary guidance on the advancement of religion for publi¢ benefrt. QIS'S aim remains to provid¢ fa¢ililies where Muslims can pr8cti¢e iheir Islamic faith. provide Islamic naiional curriculum education and to ￿$0 provide communily facilitiu for all inhabiiants of Newham through our recent acquiremenl of new buildin& Publi¢ Benefi¢ by tbe Society The trustees have tsk¢n rewd of and compty with the awtty Commission's public benefit guidance as it applies to the chwity. Other benefit to the community 15 to provid¢ a Clea￿ safe and hospitable area to offer congregationa] prayers. part-lime Islamic education to boys and girls between the ages of 5-15. 151amic matrtmonial service, spiritual nurturement and 151amic girls school. Page I QUWWAT.UbISLAM SOCIETY NEWHAM LONDON REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 MARCH 2024 OBJECTIVES AI¥D AcTIV￿lEs Volunt¢ers Volvnteers are important resources to help QIS deliver on their aims and obj¢ctiv¢s and we 8re very fortunate to have a ndwork of volunteers who regularly gÉve up their titlle and expertise. As m￿li0ned. all Trustees also giv¢ their time freely and their professions range from white ¢ollAr. blue collar and busine55 owners. All volunteers working with ¢hildren U￿lergO DBS checks. Employee8 QIS employs over 100 members of staff with the bulk of them Providing Islarnic and Ofsted regulatrd national curriculum edu¢ation. QIS also employs a fulliime c￿etaker and 3 Imams. Page 2 QuWWAT.u￿]SLAm SOCIETY NEWHAM LONI)ON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitgble a¢tfvltle8 QIS caTries out a wide range of aciiviti¢s to fidfil its chariiable aim5. The trusttts strongly believe the actlvities summarised below provid¢ ben¢fil to those who worship at QIS Masjid and the wider comrnunity. Below are just some of the a¢tivities provided: > Congr¢ytiD*al Pr*yeTlI (Sal*ah): QIS masjid is open 7x365 days a year for the religiously prescribed 5 daily prayers and for activities ￿0¢la1¢d lo spiritual Conneciion and ass(Kiation. Friday midday prayer (Jumuah) is our busiest prayer. so much $0 we h&ve provided 2 Jumuah prAyers to cater for the needs of the communtty. W¢ also provid¢ f8¢ilities for Eid Prayer twi¢¢ a year catering to the needs for the wmmunity > R*m4dh*n *nd Ehj: QJS provides provisions for the community lo attend dwing Ramadhan. participate in spiritual tslks a￿1 bleak their fast sunset for 30 days by PToviding waleT and dates for each att¢nde¢. > Funeral ficllltles: We provide dedicated funeral service to wash and shroud the deceased wilh trAined volunteers in line with the le￿h11￿ of Islam. The volunteers aTe m￿¢ up of members of our local community. > 1918mlc M4rrl*8e INlknk): QJS provides Nikah service for coupl¢s to get married in line with Islamic principles > Rellglowj edu¢4tkJn: QIS provides a complete Islamic education system for children between the ages of 4.5 years to 16 years 7 days a week according to ways laught by our Prophet Mohammad {S.A.W). QIS also offers femal¢ only Alimiyah classe5. These classes are similar to a degree or Mk where advanced Islami¢ education is provided to f¢mal¢s who wish lo advance their Islami¢ knowledge and potentially go on to become Islamic teachers > Adult relltlous ¢l*Mu: QIS Provides classes laU￿t by reli8iQUS teachers according to ways taughi by our Prophet Mohammad (S.A.W) during the wetL > Spiritual Gathering3.' Spiritual talks take place by resFttl¢d and experienced scholars 2-3 times a week in the evening after th¢ Esha prayer. We also regularly extend invites to spiritual scholaT3 lo attend QIS and deliver uplifting and spirilual talks to our community for the benefit of the community. These talks are also live streamed and also available for playback via a mobile app. > QIS Glrls SchoDI: QIS PTovides a female only school offerin8 regulated by Ofsted in a separate building starting from early y¢Ars lo Year I l. The Girls school a150 offers a compulsory Islamic edu¢ation Curriculum within the school. > Youth Programmes: QIS h(kst a monthly ¢v¢nt for the youth to corne along and listen to talks on topics affecting our community such as gangsy knife crime, drugs et¢ with fwd provided after the evenL > Islamic Aw*renegs: QIS collab(nt¢s with Muslim Council of Britain (MCB) by participating in My M05que Open day where people of faiths and ba¢kwunds aTr invited to QIS io view the masjid and &8k questions, > FuDdr4i3ing A¢¢ivi¢i¢s: QIS regularly facilitate fundraising events for both QIS itself and other registered chaTili¢s both in the UK and Abroad to allow ow community the oppOrti￿lIY to suprM)rt other charities in their fundraising activities Page 3 QUWWAT.iIL-ISLAM SOCIETY NEWHAM LONDON REPORT OF THE TRUSTELS FOR THE YEAR ENDED 31 MARCH 2024 > M*rrl*gt ¢ounselliDg: Free rnarriage counselling provided by our religio￿ scholaTS (First Sunday of Every Month). > Cnlthral S¢bool Ytslts: QIS regularly liaises with Sch￿1$ ly)th within Newbam and outside of Newham where studcnls visit QIS masjid. rneet with our l(*al im8m aTrJ hold Q&A Se5510ns ommuDIt Activitiej QIS'S Community hall situat¢d within the QIS Girls sch￿1 serves a dual purpo% to provide a s&fe space for recreational activities and available io hire on commercial tern￿. Some are QIS lead iniliatives are some ore initiatives led ty external organisations providing benefii io the community. The Hall 1$ regularly for events such as.. > Wedding Events: The schwl dining ha]1 is available for commer¢i41 hiffe for events such as weddings. Over Ihe course of the year. the hall h&8 been hired in excess of 30 times. > Guesi EveDts: QIS have used the dining halls on a number of occasions to serve 8uests and members of the community aft¢r on event. > ReeMtloDAI Attlvldu: Such as karn1¢ claws. mde knd female exercise classes > He*hh ind ￿lIbeing. ois facilit8ie an am)ual British Medical As$￿tAtIon eveni run by I￿￿] Drf8 volunteering iheir time and experi¢n¢¢ lo perfonn health checks for free to anyone wishing to alt¢nd. BMA also provide separate Lifesoving seminars lor the community IS Glrls ScboDI QIS offers an Ofsled r¢gulaled one fomi through xhool starting from early years to Year I I for any student satisfying the entrance crircria. The school senior le&dership team (SLT) is made up a Head teacher, Deputy Hewj 'f¢a¢h¢r and Primary and Secondary phase leads. All Stoff receive sthff training And are Enhanced DBS checked. Partnerjhi *nd ¢onne¢t¢d or Als*tlous QIS is connected with the following individuals and organisations. - Richard House Hospice - Canning Town Hostel - Elmhurst Primary school - Park Primary School - Uplon Lane Methodist ¢hurch Charilies su¢h as Human Relief. Islami¢ Reli¢f. M￿s11m Aid, Ummah Welfare Trusl Al-lmdaad Foundation - London BoTough of Newham and its couwillo - London FiTe Bri8Ade - Local member of Parliament (Stephen Timms arml Lynn Brown) - Newharn Police d¢puty chief constable Pagc 4 QUWWAT.UbISLAM SOCIETY NEWHAM LONDON REPORT OF THE TRusfEKS FOR THE YEAR ENDED 31 MARCH 2024 r *ctlYl An important objective after being granted Cio status w&$ to UFth the land registy deeds kn remove individually named trustee5 and replace with Quwwat4d-Isl8m which was completed 10th October 2023. FINANCIAL REVIEW Principal funding sourees Our principal sources of funding are from the following sources - Specific Fundraised projects - Donations from weekly Friday Prayer (Cash and Contactless) - Contactless DOnatiOr￿ points around th¢ MLsjid - Donation boxes around the Masjid - Monthly Standing orders Investment poll¢y obJe¢tlves QIS has no long-terni investments. Our ush reserves are held in a high street non-interest bearing d¢posil count accessible by the Finance and Fundraising team only ¢xer¢isin8 segregation of duties. Reserves polley QIS Trustees operate on a b&815 of holding funds for 44 months to med operatioJ)ai costs for ih¢ or8anisaiion. FuDds ID Surplui Tora] incoming resour¢es amounted to £2.215225 (2023.. £944.SQ5) while lolai out80ing resources were £1.951,216 (2023- £1.075,584) which led to a net income of £264.009 (2023- D¢ficit of £131.079} generated in Ihe year. As a resul( totsl fvnds carried forward were £3.212,854 (2023: £2,948,845) of which are unrestricted. FUTURE PLAI¥S - Expansion of the building tr> allow funernl services to tske plac¢ - se￿￿ted female facililies with dedicated f¢mal¢ entronce to allow women to come lo th¢ mA$jid - Expansion of th¢ cons¢rYatory area lo increase our Islamit ducation admin office and kitchen area. STRUCTURE, GOVERNANCE AND MANAGEMENr Governiog doc•meDt The char&ty is wntrolled by its govemin8 do¢iimenL a deed of trust and CO￿$t11￿tes an unincorporated charity. Quwwat-ul-lslam Society Newham London (QIS). is constituted as a Incorporated Charitable Organisation (ICO) registered with the Charity Commission on 19th December 2022 under Charity number 1201384 and governed by its constittrtion governing document. Page 5 QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON REPORT OF THE TRUSTELS FOR THE YEAR ENDED 31 MARCH 2024 STRu￿uRE. GOVERNANCE AND MANAGEMENT Recrultment #nd appolntment of Exe¢utfv¢ Committee and Trustttj Recrnitment of suitable and appropriat¢ trustees is clearty laid out in QIS'S consiilution and further suppor*d by QIS'5 Byelaw5 and policy docwnents Nvhi¢h are adher¢d trj. Essenliajly, every three yeaT& Qls's constituiion stipulates 113 of the tr￿le¢S must remain in offi¢¢ and the remaining 213 must reiire from offi¢e. Recruitrnenl of new tn￿eeS takes place (de￿ding on eligibility) at an AGM by members present who are abl¢ lo decide by voting who should be appointed io fulfil th¢ vacant 213 position. The TrLkStees believe this approach foster5 fairne￿ transp8r¢ncy and inte8rity and enables positive relations beNeen th¢ tr￿Stee5 and people of the lo¢￿ community QIS serve$. Org•Dts*don81 Jtructure The charity Tru51ces are responsible for ihe germl control and management of the charity. The Trustees give their lime freely and receive no renwnerntion of other futhnciil benefits. The Tn￿1¢¢5 meet 108ether as a body monthly and are responsible for all decisions taken in r¢lation to the nujning the Masjid, 1514mic Girls School, Ci)mmunity fa¢Tliiies and the activities provided by ihe charity to in the smooth running of the charity. the Tn￿ttts have setup a number of subnstitution of QIS and provide rlarity to t￿￿tee5 and subcommittee members on their duties. Trustees are also provided with relevant maleriai 4vAilable on the Charities Commission website related to training awareness i.e. 5-minute guidu on various lopics. Tntstees must also complete ChaTiIi¢5 Commissions TTUSttt5 quiz &8 part of their indu￿10n. Trustees must also complete a Disclosure servi￿ Barring chxk to ensure Trustees are do not have a ¢riminal record and are able to work children and vulnerable adultggroups wiihin the any of QJS'S activity settin￿. Page 6 QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 SrRU￿uR[ GOVERNANCE AND MANAGEMENT Riak m*n*8ement The Trustees have a55¢ssed the risks faced by QIS and the guidance provided by Charili¢s Commission tided 'Charities and risk management (CC26)' io formulate and draw up an appropriate risk management plan and risk management matrix to identify risks by area of activity. nalure of those risk& likelihood of those risks materialising and measures iaken to manage them. Tn]51¢es review the risks once per quart¢r and are satisfied that the necessary mitigation measures are in place to manage the identified risk$. REFERENCE AND ADMINI￿￿TIvE DETAILS Re818tered Ch*rhy number 1201384 Prthtlpal *ddre88 6246 uFfoN LANE LONtX)N E7 9LN Trustees Idrig Ibrahim- Appointed on 19¢h May 2024 Asif Palel - Appointed on 19th MAY 2024 Feroz Chttmadiya- Appointed on 19th May 2024 Suhayl Oughradar- Appointed on 19th Mfly 2024 Mr Saeed Y Mohmed- Resi8ned on 19th May 2024 Mr Ismail Patel . Resip)ed on 19th May 2024 Mr Zubair A Pakl- Resigned on 19th May 2024 Executive Commllt¢¢ Abdullah Patel (Prestdent) Idris Ibrahim IVi¢e President) Samir Doodwalla (Secretary} Faruk Patel (Vice Se¢rew) Salim Kidiya {Tre￿Urer) Feroz Chamadiya (Vice Treasurer) Imtiaz Patel Member Idris Jangaria Jmran TaRati Suhayl Oughradar ExeeutlY¢ sM￿commIttee¥ School Idris Ibrahim (le￿) Fan￿ Patel I]￿ Oughrgdar Naim Member Salim Kidiya Samir D(x)dwalla Siudks Imtiaz Jangaria AiM1ullah Dalal Idris Jangaria Hafiz Imran Talati Salim Kidiya M*Jjld FaNk JangaTia Imtiaz Jangaria Abduilah Dalal Imran Talati Idris Jangaria Suhayl OuO)rndar Feroz Chamadiya Hafiz Naim Memb¢r Ithis Jangaria Page 7 REPORT OF ThE TRUSTEES FOR TIIE YEAR ThTIUJ 31 MARCII 2•24 IIEFER>]¥fE AfiDADMINLrnTIVE DETAIIS 364. 368 Ro¥1 KU6HY SAwdardapplicobk ittth¢UK ￿￿ts1k of ]rclaDd'. Tly¢ Iny 4pplkthk Ill W •d Wak& & clwlks Act I, Ctrdity Mhd swe[D￿lS roT￿b tIDxKlal Ye￿ wh6rh 8h* &ir of•ff*fN ofibe chwiiyaod tsf 111￿10￿d kthdexplllxd kn th¢ ¢orq>ly the C&wilits Aci _￿11. Ch*riry (ALXW4S wd RcpNts) Re￿￿10￿£ XAlll wbd th¢ TThstee Je IPQ L IL¢AH* ML rtI￿lA REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF QUWWAT.UblSLAM SOCIETY NEWHAM LONDON Opinio We have audited the finan¢ia] sthtements of Quwwat-ul-lslam Society Newham London (the 'charity? for the year ended 31 March 2024 which comprise the Siatement of Financial Activilies, the Balance SheeL the Cash Flow sta￿ment and note5 to the financial stalements, including a summary of significant accounting policies. The financial reporting fram¢work that has ixen applied in iheir preparntion is appli¢Able law and United Kingdom Ac¢ounting Standards (United Kingdom Generally Acc¢pled Accounling Pwlice), including Financi81 Re￿rtIng Standard 102 Tr Financial Reporting Sta￿1￿rd applicable in the UK and Republic of Ireland,. In our opinion the financial stsiements.. giv¢ a true and fair view of the slate of the charitys affair5 &5 at 31 March 2024 and of its incoming resources and application of resources. for the yev then ended: have been properly prepared in accordance with United Kingdom Genera]ly Accepted Accounting Practic¢. including Financial ReF￿ill8 Siandard 102 Tr Financial Reporttng Standard applicable in the UK and Republic of Ireland,; and have been prepared in a¢¢ordan¢e with the requirements of the ChaTitie5 Act 2011. Basb for oplnloll We conducted our audit in accordance with Intemaiional Stsndards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibilili¢s und¢r those stsndards are futther described in the Auditors, respmsibilities for the audii of the financial statements section of our r¢port. We Are independent of the charity in a¢¢ordance with the ethical requirements th* are relevant to our audit of the financial statements An ihe UK. including ihe FRC'S Ethical Stsndard and we have fulfilled our other ethi¢Ai responsibilities in accordance with these requirements. We believe thal the audit evidence we have obtsined is sufficient and appropriate to provide a basis IOT our opinion. ConclusloDJ rel*dn% to golng eonee In auditing ihc financial 5tstements. we have conclu(kd thai the th￿tee$. use of the 80in8 concern basis of a￿ountIng in the prepar81ion of the financial sthtemenls is appropriate. Based on the work we have perfomied we have not identified any material uncertaintiu r¢lating to events or conditions that, individually or collectively, may ¢ast signifi¢anl doubt on the ¢harity'5 ability to continue as a going Co￿eM for a peri(Kl of ai least twelve months from when the fllwicial Mat¢m¢nts are au¢horised for issue. Our resporLsibiliti¢s and ihe responsibilities of the trus￿ with respect to going concern aTe described in the relevant sections of this report. Otber InformatloD The trustees are responslble for the other infonnation. The other infOrn￿ll0n ccm)prises the inforniation includ¢d in the Annual R¢por4 other than the financial thiements and our Report of the Independent Auditors thereon. Our opinion on the finarKial statements does not cover the other Inforn￿tIOft an￿ ¢xcept to the ¢xtent otherwise explicitly sthted in our reporL we do not express any forn) of assurance ci)nclusion thereon. In ¢onn¢ction with our audit of ih¢ financial 5talementy our resp)nsibility i5 to read the other inforniation and, in doing 50. COJLsider whether the other inforn￿lOn is materially inconsistent with the financial statements or our kJ)owledge obtained in the audit or otherwise appe8rs to be materially misststed. If we identify such material inconsistencies or apparent rnaterial misstatements. we 4re requir¢d lo det¢miine whdh¢r this gives rise to a material miss¢atement in the financi￿ 5ts1em¢nts themselves. If, based on the work we have performed. we conclude that there is a material misstat¢m¢nt of this other infornMtioffj we are r¢quired to report that fact. We have nothing to reP￿rt in this regard. Page 9 REPORT OF THE INDEPENDENf AUDITORS TO THE TRUSTEES OF QuWWAT-U￿lSLAm SOCIETY NEWHAM LONI)ON Mattsrs on which we are required to report by es¢¢ptlob We have nothing to Tewrt in respe¢1 of Ihe following matters where the Chariiies (Accounts & Reports) ¢gulations 2011 requires us to Teport to you if, in our opinion: the inforniation given in the Rep￿rt of the TnLSt¢es is incoThsistent in any material re5pe¢t with the financial statements ' or sufficient accounting record5 have not been kepL or the financial statem¢nis a￿ not in agreement with thc accounting recoftls And re￿rn$. or we have not received ail the infomiation and explaDations we requi￿ for our audit. Responslblllties of trustees As explained more fully in the Statemem of Trthsl¢¢s' ResrKJnsibilitie4 the trnstees are responsible for the preparation of the financial statements which give a true and fair view. and for such intrmal control as the trustees deterniine is necessary to enable the preparation of fina￿181 statements that arc free from material misstaternenL whether due to fraud or error. In preparing the firta￿la1 siat¢ments. th¢ trustees are responsible for assessing the ¢harily's ability to coniinu¢ Its & going concem. disclosi￿ as applicable. mattels related to going ¢onc¢rn and ￿Ing ihe going ncern basis of a¢couniing unless the tnLslees eith¢r intend io liquidate ihe charity or to cease operations. or have no realistic alternalive bul lo do so. Our reJpDmBlbllltlw for the audlt ofthe flD•n¢hl stst¢M¢nts We have been appoint¢d a5 audiiors Ujmler Section 144 of the Charities Act 2011 and rewrt in ￿9rd8n¢¢ with the Act and relevant regulations mad¢ oi having ¢ff¢ct thereunder. Our objectives are to o￿aIn reasonable assur0￿¢ aboul whether the financial statements as a whole are free from m8l¢rial Mi￿tateMen{ whether due to fraud or error, and lo issu¢ a Report of the Independent Auditors that includes our opinion. Reasonable &ssur8n¢¢ is a high l¢v¢l of assurance, but Is noi a guarantee th&t an audii condwt¢d in ac¢ordance with ISAS (UK} will always d￿ect a material misstatement when il exists. Misstatements can arise from fraud or error And ole ¢onsidered material if, individually or in the a8gre8aie, they could reasonably be expe¢ted to influence the economic de¢i5ions of usets taken on the b&sis of these rinancial statements. The exleni io which our pro¢edurts are wable of dete¢tin8 iTregul8rities. I￿luding fraud is detsiled below: We obtsirted an undertstanding of ihe legal and regul*ory framework applicable to ihe entity and how the entity is complying with that framework by discussivbg with management and checkin8 compliance with r¢gulators. A fvrther description of our r¢sw)nsibililies for the I￿111 of the financial ststements is located on the Financial Re￿rtIng Council's website at Www.frc.o￿￿k1audiIorSrespon5lb1jiIles. Thi5 des¢riptioTh fornis P8rt of our Report of the Independellt Audilot3. Pagc 10 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF QUWWAT-UblSLAM SOCIETY NEWHAM LONDON Use of our report This r¢pon is made solely to the charitys trustees, as a body. in accoTdance with Part 4 of th¢ Charities (Accounts and Reports) R¢gulation$ 2008. Our audit Work has been undertsken so ihat we rnight slate lo the charity's tru51ees those matters we are required to state to them in an auditors, report and for no other purwse. To th¢ fullesl exteni perniitted by law, we do not accept or a55ume Tesponsibility to anyone other than ihe charity and the charity's trwtees &s a body, for our audit worL for this reN)TL or for the opinions we omied. Preslong & Jacksons PartneT3hip LLP Ststutory Audilors 364 - 368 Crdnbrook Road Ilford Essex JG2 6HY Pagell QUWWAT.U￿ISLAm SOCIETY NEWHAM LONDON ATEMEiYf OF FINANCIAL ACTIvrriES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 TotAI funds 31.3.23 Total funds Unre￿n¢t¢d Restricted fund Notes INCOME AND ENI)OWMENfs FROM DortAtions and legaci¢s 577314 577214 155.296 Charitable activities SAdaka & Zakat Alimah course Girls school Mosque & community Madrassa 161829 164.829 71 J78 876J65 7.537 517902 49,027 45,075 495.596 10,220 189,291 71J78 876J65 7W7 517902 Total 2,050J96 164.829 2215225 944,505 EXPENDITURE ON O¢h¢r ¢h•rltgble lctfvltl Raising donations and legacies Other trading activities 27,635 15,183 27,635 13.183 4.785 20,672 42J18 42118 25,457 Charlt*ble letlvhles Sadaka & Zakat Gir15 school Mo4ue & community IIS570 115,570 894021 898,007 42.687 549.486 457.954 894821 848,748 49259 Total 1.786J87 16V29 1,951316 .075.584 NET INCOMFJ(EXPENDmJRE) 264,009 (131.079) RECONCILIATION OF FUNDS Total funds brought forward 2,94WS 2,948045 3,079.924 TOTAL FUNDS CARRIED FORWARD 3212054 3212054 2.948.845 The notes rom part of these financial statements Page 12 QUWWAT.UL-ISLAM SOCIETY NEw￿&m LONDON BALANCE SHEET 31 MARCH 2024 31.3.24 31.3.23 FIXED A&SETS Tangible ass¢ls 13 64WJ 1,850,269 CURRE￿ ASSETS Stocks Debtors: amounts faIling due within one year Prepayments and accrued income Cash at bank and in hand 14 7(Kl 700 15 219996 2.100 452894 149,7(M) 987,787 675,69) 1,138,187 CREDITORS Amounts falling within one year 16 (IlJ9,727) (39.611) NET CiJRRENT ASSETS 56S963 1.098.576 TOTAL ASSETS LESS CURRENT LIABILITIES $212034 2.948.845 CREDITOKS Amounts failing due after more than one 17 {2,000,000) Nrr ASSETS 3312,854 2,948,845 The notes forn) part of these fu)an¢ial statements Page 13 continucd... 31 MARCH 2024 FUNDS 331W 2,94W5 TofAL NINDS 33J&151 2,9W45 re st8nedoD kn lycknlftsy. Py14 QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 31J24 31.3.23 Notes Cask Ilowj from operatillz acttvltles Cash generated from operalions 2297250 (178,202) Net cash Provided byl(used in) operating activilies 2297250 (178,202) Cash flows from Investlng 4¢thdde4 Purchase of tangible fixed w¢is (2.832,165) (9,050) Net cash used in investing activities (2.832.165) (9.050) Chainge in cajh and eAJh equlv*leits In the reprting period Caih gnd e•sb equlvalentj *t the be8lDDin8 of the rtportÉng perlod (534.91• (187.252) 1.787 1,175.039 Cash gnd e*Jh equfvaleDfJ *t the end of th¢ r¢portlug perlod 452.872 987,787 Thc notcs form part ofthcse financial stat¢m¢nts Pagc 15 QiJWWAT.UbISLAM SOCIETY NEWIIAM LONDON NOTES TO THE CASH FLOW STATEME FOR THE YEAR EIYDED 31 MARCH 2024 RECONCILIATtON OF NET INCOMFJ{EXPEI¥DfTURE) TO NET CASH FLOW FROM OPERATtLYG ACTivfTIES 31.3.24 31.3.23 Net ittcomel{ezp¢tydl¢ure) (or the rep)rtlng perlod (*$ per the StAtemellt of FlnaJh¢Aal Aetivities) Adjustmeuts for: Depreciaiion charges Decre￿¢ in stocks Increase in debtors InC￿aSe in creditors 264.009 (131,079) 35,543 {72J96) 2,070,1194 (90.754) 7.988 Net taih provhled byl(used hn) operatloni 2297250 (178.202) ANALYSIS OF CASH AND CASH EQUIVALE 31J24 31.3.23 Cash in hand Notice deposits Oess than 3 month8) Overdrafts included in bank loans and overdrafts falling due within on¢ year 13,970 438924 27,728 960.059 (22) Tthal cash and Cash equivalents 452Jn 987,787 AI¥ALYSIS OF CHANGES IN NET FUNDS Ai 114r23 CAsh flow At 31rJ124 F4et ¢*sh Cash at bank and in hand Bank overdraft 987,787 (53V93) (22) 452,894 (22) 987,787 (53V15) 452,872 TotAI 987.787 (534915) 452.872 The notes forn) part of these financial stat¢m¢nts Page 16 QUWWAT.UblSLAM SOCIETY IYEWHAM LONDON NOTLS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Blsls of prep*ring tbe fin*Dtial statements Th¢ finan¢i415tatements of th¢ chaTity. which is a public b¢n¢fit entity Under FRS 102, have been prep8r¢d in accorda￿e with the Charities SORP (FRS 102) 'Ac¢ounting and Reporting by Charities.. Statement of Recommended Pr￿tICe applicable to charities preparing their aw>unts in accordan¢¢ with the Financlal Reporting Standxrd applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial Rew)rting Standard 102 The Financial Reporting Standard applicable in lh¢ UK and Republic of Ireland. and the Charities Act 2011. The financial Statements have been prepered under the histori¢al ¢os¢ ¢onv¢ntion. In¢om¢ All income is recognised in th¢ Stalement of Financial Activities once the charity has entiilement to Ihe funds. it is probable that ihe income will be received and the amount can be measured reliably. Donations are recognised when the charity rec¢ivey them. Fees from students ar¢ ￿COgnis¢d on r¢¢eivable b8si& a¢wun*d for ID the period they relate to. Expendl¢Mr¢ Liabilities ar¢ rKogni5¢d as expenditure as soon as there is a legal or constructive obli8ation committing ihe chariry lo that expendiiure, il is probable thal a trarksfer of economic benefits will b¢ required in settlement and the amount of the obli8aiion wi be m¢asur¢d reliably. ￿Xpenditure is ac¢ountd for on an aCcn￿lS basis and has been classified under headings that aggr¢gat¢ all Gosl related to the category. Wher¢ ¢osls w)nol be directly attribuled to particular headings they have been allo¢aled to activilies on a basis consistent with the of resources. Grants offered subject lo conditions which have not been th¢ y¢ar ¢nd date ar¢ noted as a ¢ommitmenl bul not a¢¢n￿d as expendiiure. T*tt%ible fixed assets Tan8ible fixed assets stated at histori￿1 cost less accthnulated depreciation and any accumulated impairment 10sse5. Historical cosl includ¢s ¢xFnditur¢ that is directty attributable to bringing the et to the I0¢￿10ll and Condition necessary for it to be capable of operating in the manner intended by management.Land is not being depreciated. Depreciation 15 charged so ￿ to allocate the cosl of &8sets less th¢ir r¢$idual value over tkir estimated us¢ful liv¢s. using ¢ith¢r a straight line or reducing balance method, as indicated below. Depr¢¢iation is provided on the following b&%is: Freehold property - 2% on cost Improvements to property - 2% on cosl FixtUTes and fitting5 - 1(W• on cost Computer Equipments- IO% on ¢ost The w¢ts' residual values. useful live5 and depreciation Methods are reviewed, and adjwst¢d prnspectively if appropriate. or if the￿ is an indi¢Ation of a significant ¢ha4ge since the last reporting date. Page 17 ontinued... QuWWAT.u￿]SLAm SOCIETY NEWHAM LONDON NOTES TO THE FINAF4CIAL STATEMENTS- ¢ODtinued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued TautlOD The charity is exempt from tax on ils charitknle I￿1VItie& Fund *ccountlDg Unresiricied fullds ¢4n b¢ used in with the charitable objectives at the dI￿retIon of the tnLslees. Restricted funds can only be used for particular restrirted Purposes wiihin ihe objects of the charity. Restri¢tions arise when specified by Ihe donoT or when funds or¢ raised for particular restricted purpos¢s. The tnL4ttts con5ider'Sadakah & Zak￿. donatiotL8 as being r￿trIcted &8 then can s)nly be donated io the poor and needy people. Further explanAtion of the natur¢ and PUryM)se of fund is included in the notes to the fmancial statements. Debtor8 Basic fthancial ￿sets, including trade and other debtors. are Initi￿lY re￿gnIsed at tranwtion price, unless the arrangemeni ¢onstitutes a finan¢ing trarL8aCti0￿ where the transaction is measured at the presenl value of the future receipts discounted ￿ a mark¢t rat¢ of interest. Such assets ￿t subsequently urried at amortised cost using th¢ effective interest method less any impairnient. Credltors Basic financial liabilitie& including trade and other creditor& loans from third parties al￿ loans from related parties, are initially recognised at transaction pri¢e. unle&s the arrangement constitutes a financing transaction. where ihe debi instrument is m¢asured at the present value of the future payments discounted 4t a markel rate of interest. Such insuiunents ar¢ subs¢quenily carried at mortised tost using the effective Intere￿ method. less any impairmenL Penslon ¢osts and other posl-retirement bettellts The charity operates a defined contribution pension scheme. Contributi¢)ns payable to the charity's pension scheme are ¢haT8¢d to the Statement of Financial Activities in the period to which th¢y relate. Golng eoneern The charity continues io receive amazing sui4)ort from all the staff. volunteers and community. Cash flows give5 the t￿Stee5 confidence that the charity has sufficient resources to continue its operations on a going Concern b&8is for the nexr 12 months. It is for these reasons the aw)unts have been prepared on a going conceTn basi5. Pa8c 18 continued.., QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR TFtE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations Incoming Rwurces Sale of books, uniforni and receivers Lillah donalions Membership fees Jumma ¢oll¢¢tion Nikah fees Taraweeh ¢olledion 234J38 2S794 232S3 141.978 24,970 Al19,422 2,000 15,457 6.742 3.338 49,012 14,800 62,156 1,740 17,508 577214 155,296 INCOME FROM CHAR￿ABLE A￿1VITIEs 31.3.24 31.3.23 Activity Sadaka & Zakat received Sadaka & Zakat Alimah fee Altmah cours¢ School fee Girls school School Irip collection Girls School Other Sundry Income Girls sch￿1 Halucuilery Mosque & community Madrassa M*Jr45sa 164,829 71J78 873238 2,875 252 7.537 517.902 49.027 45.075 458.369 5.521 31,706 10.220 189,291 1ffi38,011 789.209 RAISING DONATIONS AND LEGACIES 31J.24 31.3.23 Madrassa ¢osls Ramdan C05t 25,711 1.924 3,900 885 27ffj35 4.785 Page 19 C4)ntinued... QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON NOTFS TO THE FINANCIAL STATEMENTS- colltinued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTIVITIES 31J24 31.3.23 Opening st￿k Purchases Closing stock 700 15.183 1700) 20,572 (700) 15.183 20.672 CHARrrABLE A￿1vIT￿Ls Costs funding of activilic5 (s¢e notc Supprt Costs (see note 8) Direct Costs 7) Totals Sadaka & Zakat Girls ￿h0o1 Mosque & community 11SJ70 115J70 894,821 898,D07 877,751 811,471 17.070 37277 49359 1,689222 164029 54J47 1,908J98 GRANTS PAYABLE 31.3.24 31.3.23 SadakA & Zakat Mo4ue & communiry 115.570 49,259 42.687 164,829 42,687 Page 20 ontinued... QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2024 GRANTS PAYABII- ¢ontittry The ioial grants paid to institutions during the year was as follows: 3JJ24 31.3.23 Abdullah Aid Ummah Welfare Tn￿t Bharuch Welfare Tn￿t Mumbai Educational Trust Al Imdaad Foundation UK Wal¢rfail Charity Various Small Charities Read Foundation Al Khair Foundation Aid For Ummah Al Falah Tnist Ar Rahman Ltd fA069 27.1)DO 5,500 2,500 2.500 3,315 1,000 sooo Isooo iJoo 7.96D 000 21.0110 i.soo 13.000 1.500 3,072 3,700 19.100 164029 42.687 SUPPORT cosrs Govemancc ¢osts Management Fin8n¢e Totals Girls school Mosque & communily 17,088 1&455 (2978) 11,651 17,070 37277 7,171 35y3 10,131 8,673 54J47 AUDITORS, REMUNERATION 31.03.24 31.03.23 A¢countancy Fees 1000 1,400 Auditors Remuneration 5200 4.51)0 7,000 5,900 Pag¢ 21 continued... QUWWAT.UL-ISLAM SOCIETY NEWHAM LONDON NOTES TO TllE FINANCIAL STATEMENfs . eontiDu¢d FOR THE YEAR ENDED 3] MARCH 2024 10. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remun¢ration OT other t*n¢fits for the year end¢d 31 MaT¢h 2024 nor for the y¢8t ¢Thled 31 March 2023. Trustees, txptnses Ther¢ were no trustees, expenses paid for the year ended 31 March 2024 nor for th¢ year ended 31 March 2023. 11. srAFF cosrs 31.3.24 31.3.23 Wages and salaries Social security costs Other pension costs 1265,979 47.461 8,438 715.986 30.003 5.496 lJ21m8 751,485 The average monthly nuTnkr of employees during the year was as follows: 31.3.24 76 57 31.3.23 79 39 Mo¥que staff Schwl staff 133 118 No employee5 received emoluments in excess of £OO.CMXI. 12. COMPARATIVES FOR THE STATEMEKf OF FINANCIAL AcfivmES 31J.2023 Unr¢stricted Rcstrictcd fund Tot*1 funds INCOME AND ENDOWMENfs FROM Donatio￿ and legacies 155.296 155.296 Cb4rft•ble aetfvltles Sadaka & Zakol Alimah ¢ourse Gir15 school Mosque & community Madr85sa 22.974 45.075 495,596 10,220 189.291 26,053 49.027 45.075 495.596 10,220 189,291 Tol*1 918.452 26,053 944,505 O¢ber ¢haritable attivities Raising donatious and l¢gacies 4.785 4.785 Page 22 continucd... QUWWAT.UblSLAM SOCIETY NEWHAM LONDON NOTES TO THE FINANCIAL STATEMEiYfs- ¢ontittued FOR THE YEAR E]¥DED 31 MARCH 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrivrriES 31J.2023- continued Unrestrtcted Restrictcd fimd fiu)d Tolal Other trading activiti¢s 20.672 20.672 25.457 25,457 Ch4ritxbl¢ •¢tivitiu S￿aka & ZAkAt Gir15 school Mosque & Community 42.687 42,687 549.486 457.954 549.486 457.954 To¢*1 1.032.897 42.687 1.075.584 NET INCOMEJ(EXPENDITURE) Tr*n#fen between (114.445) (3.302) (16.634) (131.079) 3.302 Net mov¢meDt ID fuDd$ {117,747) {13,332) {131,079) RECONCILIATION OF FUNDS Total funds brought forward 3,1)66.592 13,332 3.079.924 TOTAL FUNDS CARRIED FORWARD 2,948.845 2,948.845 Page 23 continued... QUWWAT-iIL-ISLAM SOCIETY NEWHAM LONDOIY NOTES TO THE FINANCIAL STATEMENTS . eoDtinued FOR THE YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSETS Improv¢m¢nts Fixtures Frcehold property proFKrty Compulcr 4uipment fittings Totals co At l April 2023 Athlilions 1,676,133 2832.165 309J26 440,657 27,542 2W2,165 At 31 March 2024 4JO8298 309J26 440,657 27,542 5285,823 DEPRECIATION At l April 2023 Charge for year 124,657 11th53 55J86 6358 407,688 l4J76 15,658 2,756 603,389 35,543 At 31 March 2024 ]36JiO 61.644 422J64 18,414 638,932 NET BOOK VALUE At 31 March 2024 4J71988 247.682 1&093 9,128 4,646,891 At 31 March 2023 1,551,476 253.940 32.969 11.884 1,850,269 14. STOCKS 31.3.24 31.3.23 Finished goods 700 700 Is DEBTORS: AMOtFNTS FALLING DUE W￿H1￿ ONE YEAR 31.3.24 31.3.23 Trade de￿013 Other debiors 188,759 31237 119,722 29.978 219,996 149.700 Pag¢ 24 continued... QUWWAT.u￿ISLAm SOCIETY I¥EWHAM LONDON NOTES TO THE FINANCIAL STATEMETh . Continued FOR THE YEAR ENDED 31 MARCH 2024 I& CREDrfoRS: AMouNfs FALL]NG DUE WITHIN ONE YEAR 31J24 31.3.23 BaDk loans and overdrafts (see nole 18) Trade creditors Social security and other tsxes N¢1 Woges Pension Control Accrua13 and defeTred income Accrued expenses 22 19,038 103 394 2,321 13,613 13,293 2,(K14 73.560 109,727 39,611 17. CREDITORS: AMouNfs FALLING DUE AFfER MORE THAN ONE YEAR 31Ja4 31.3.23 2,1)00.000 The loan is secured on the freehold propety. I& LOANS An andysis of the maturity of loans 15 given below: 31.3.24 31.3.23 Amounts falling due within one year on demand: Bank overdrafts 22 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31J.24 Totsl funds 31.3.23 Total funds Unresirictcd Restricted fund fund Fix¢d &ss¢ts Current assets Current liabilities Long tenn liabilities 891 675,690 (109,727) (2,(KlO,000) 4.646,891 675.690 (109,727) 12.000.(M)o) .850,269 .138,187 (39.611) 3212.854 3312,854 2,948,845 Page 25 continued... NOTES TO THE FINANCIAL STATEMENTS. ¢ontinued FOR THE VEAR ENDED 31 MARCH 2024 20. MOVEMENT I1¥ FUNDS Net movernent in funds At 3113124 At 114123 Unrejtritted General fillMI 2.948J45 264,009 3212,854 TOTAL FUNDS 2,948J45 264,IY)9 3212,854 Net movement in funds, included in thc above are as follows: IncomAn8 Resources Movement rcsources exFnded in funds Unrestritted fun4ts Generai fund 2,050J96 (1.786J87) 264,009 Re•trk¢ed fund• Restri¢led Fund 164029 (164829) TOTAL FUNDS 2315325 (1.951216) 264,009 Compra¢lveJ for mov¢meDi In flnds Net Transfer5 movement lknveen in funds funds At 3113123 At 114r22 Uure•trlcted fuDdJ General fund 3,066.592 (114.445) 13.302) 2,948.845 R¢Jtrkled fuAd¥ Restricled Fund 13J32 (16.634) 3J02 TOTAL FUNDS 3,079,924 (131.079) 2.948.845 Page 26 ¢ontinued... QUWWAT.UL-ISLAM SOCtETY NEWHAM LONDON NOTES TO THE FINANCIAL STATEMENTS- tontinu¢d FOR THE YEAR ENDED 31 MARCH 2024 20. MOVEMELYT IN FUIWS- colltimll¢d Comp8r*ive net movement in fimd4 Includ￿ in th¢ above are &s follows: Incoming Resources Movement r¢sourc¢s expended in fLmds Unrejtrleted fulldj General fund 918.452 (1.032.897) (114.445) Rertrkted funds Restricted Fund 26,053 (42.687) (16.634) TOTAL FUNDS 944.505 (1.075,584) (131,079) Restricted Funds ¢on5iSted of Zakaats and Sadak2 fuTrJs to be distribut￿ to the poor and needy. 21. RELATED PARTY DISCLOSURES I, During the y¢aT. the trust employs four people who are related to members of executive committee. Their gross remuneration were £97,653 (2023.. £55J52). 2. The charity received domtions of £1 5,240 (2023.. £2,960) from tntstees during ihe year. Page 27 QUWWAT.iJL-ISLAM SOCIETY NEWHAM LONDOIY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AIW ENDOWMENTS DoDatloDS •nd lega¢i Donations Incorning Resources Sale of books, unifom and re￿IverS Lillah donations Membership fees Jumma collection Nikah fee5 Taraweeh collection 234J38 2S794 23255 J41,978 24,970 109,422 6,742 3,338 49.012 14,800 62,156 1.740 17,508 577214 155.296 Cb•rltsble *t¢lvlll Alimah fee School fee Ht4ll/Cutlery Sadaka & Zakat re¢¢ived Schwl trip Collection her Sundry Incom¢ Madr￿sa 71J78 873238 7,537 164029 2,875 252 517,902 45,075 458.369 10,220 49,027 5.521 31.706 189.291 1.63&011 789,209 Tot*1 tseomlng reaoirees 2JIS225 944.505 EXPEI¥DITURE R*isiDg dona¢io•i Ind leg*¢les Madrassa Costs R8mdan Cost 25,711 1,924 3,900 885 27.635 4.785 Otber INdlDg aetivities Opening stock Purchases Closing stock 700 15,183 (700) 20,572 (700) 15.183 20.672 This page does not forn) part of the statutory financial stst¢m¢nts Page 28 QUWWAT.UL-ISLAM SOCIETY NEWHAM LOY4DON DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YLIR EIYDED 31 MARCH 2024 31.3.24 31.3.23 Other tradlng •etivi¢ies Ch¥ritsble actlvltk8 Wages So¢ial wurity Pcnsions Rates and water Insurance Li8hL Heat and Water Telephone Postsg¢ and stationery Swidries Cleaning Subscriptions Software EduLational authoriiies Graduation expense Repairs & renewds Other Professional fees Uniform Donations to Chariiie$ 1265J79 47.461 &438 21253 18.105 76,058 2.025 33533 26.090 2,404 1￿17 7J24 47,182 3,113 65,458 57007 (525) 164029 715.986 30.003 5.496 10,711 11,541 25,546 23.054 4.997 1,240 1,030 4.678 18.119 5,014 25,989 72.596 (540) 42,687 105<051 999,298 Support ¢oJtJ M*nagtmett¢ Freehold property Improvements lo prop¢rty Fixtures and fiitings Computer equipment 11.653 6258 14,876 2,756 11,653 6,258 14,876 2.756 35,543 Fln*pc¢ Bank charges IIK131 5.41 Goverxance crfts Auditors, remuneration AccountaTKy and1¢8￿ fees 7,lJOO 1.673 4,500 5,375 8,673 9.875 Total resources exp¢nd¢d 1.951216 1.075.584 Net incomtJ(expendi¢ure) 264,009 (131.079) This page does not forn] part of the statutory financial staterncnts Page 29