**COMPANY REGISTRATION NUMBER: 14766892 CHARITY REGISTRATION NUMBER: 1204653**
## **Ninmah Trust**
**Company Limited by Guarantee**
**Financial Statements**
**For the year ended 31 March 2025**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Financial Statements**
## **Year ended 31 March 2025**
||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Trustees' responsibilities statement|**4**|
|Independent auditor's report to the members|**5**|
|Statement of financial activities (including income and expenditure account)|**8**|
|Statement of financial position|**9**|
|Statement of cash flows|**10**|
|Notes to the financial statements|**11**|
## **Ninmah Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)**
## **Year ended 31 March 2025**
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025.
|**Reference and administrative details**||
|---|---|
|**Registered charity name**|Ninmah Trust|
|**Charity registration number**|1204653|
|**Company registration number**|14766892|
|**Principal office and registered**|Third Floor|
|**office**|20 Old Bailey|
||London|
||EC4M 7AN|
||United Kingdom|
|**The trustees**||
||Dr M Al-Rashid|
||V K Al-Rashid|
||S Al-Rashid|
|**Auditor**|Gibson Booth|
||Chartered Accountants|
||New Court|
||Abbey Road North|
||Shepley|
||Huddersfield|
||HD8 8BJ|
|**Solicitors**|Withers LLP|
||20 Old Bailey|
||London|
||EC4M 7AN|
## **Structure, governance and management**
## **Governing document**
The Ninmah Trust (the 'Charity') is governed in accordance with its articles of association, and constitutes a private company limited by guarantee as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
There are currently three trustees. The board is made up of UK, Belgian and American nationals.
No trustee remuneration was paid in the year (except in the case of expenses, if appropriate). Trustees are required to disclose all relevant interests and register them in accordance with the Charity's policy.
## **Organisational structure**
The Charity is an English registered charity, number 1204653.
The day-to-day administration of the Charity is managed by employees appointed by the trustees.
## **Risk management**
The trustees consider on an ongoing basis the major risks to which the Charity is exposed and review them regularly. The Charity has not yet begun its grant-making activities but when it does so, the trustees note that grant expenditure will be limited by its income.
**1**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 March 2025**
## **Objectives and activities**
The Charity promotes the conservation, protection and improvement of the physical and natural environment, including through the promotion of biodiversity and the sustainable use of natural resources and ecological processes and such other charitable purposes for the public benefit as the trustees may in their absolute discretion determine, by providing grants to specific projects which are charitable for the public benefit under the laws of England and Wales.
## **Strategic report**
The following sections for achievements and performance and financial review form the strategic report of the charity.
## **Achievements and performance**
During the period April 2024 to March 2025, the Charity was in its establishment phase. Activities focused on developing the grant-making strategy, seeking legal guidance on grant-making policy, and recruiting the first member of staff to take the work forward. No grants were made during this period.
The trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit when planning the Charity's activities. Public benefit considerations are incorporated into trustee decision-making and due diligence processes, supported by professional legal advice where appropriate.
The Charity adopted a grant-making policy on 1 November 2023. No grants were made during the reporting period while the Charity completed its establishment phase.
During the period April 2024 to March 2025, the Charity concentrated on establishing the foundations for future grant-making. Key achievements included:;
- Developing and approving a grant-making strategy aligned to the Charity's Objects;
- Obtaining specialist legal guidance to ensure compliance with charity law and public benefit requirements;
- Operationalising the grant-making policy adopted in November 2023, including agreeing a mission statement and eligibility criteria, developing an application process, and commissioning template grant agreements;
- Commencing the recruitment of the Charity's first staff member to take forward programme delivery and administration;
These preparatory activities have ensured that the Charity is well placed to begin making grants in the next financial year. The work undertaken has created a robust framework to support effective and compliant funding decisions, maximising the public benefit of the Charity's resources.
Establishment objectives were met, with key policies and governance structures put in place.
The Charity does not undertake public fundraising. A single principal funder provides funding.
## **Financial review**
As of 31 March 2025, the Charity held unrestricted reserves of £1,287,000 (2024: £9). Total income was £1,308,542 (£1,302,233 in donations and £6,309 in bank interest) compared to £137 of purely donations in 2024. Expenditure of £21,551 (2024: £128) related to professional and IT costs during the establishment phase. No grants were made in the reporting period, and no staff were employed, though recruitment activity had commenced.
At the year end, the Charity had not yet formally adopted a reserves policy. The trustees intend to hold cash reserves sufficient to (i) cover operating expenditure, (ii) meet grant commitments in good time, and (iii) maintain a modest buffer for urgent requests. Given the draw-down arrangements with the principal funder, the Charity does not plan to hold reserves equal to the full value of multi-year grant commitments. A formal policy will be approved after the year end.
The trustees are satisfied that the Charity remains a going concern, with sufficient funds to continue operations and deliver its charitable objectives.
The Charity is funded by a single principal funder. No public fundraising is undertaken.
The trustees consider risks on an ongoing basis, with appropriate professional advice where needed. No material risks were identified at year end.
## **Plans for future periods**
In 2025/26 the Charity will move from establishment to active grant-making. The trustees plan to run two grant rounds each year (March and July), awarding multi-year grants aligned to the Objects. The trustees will finalise and adopt a reserves policy, embed due diligence and monitoring, and review governance annually. Delivery will be supported by the Executive Officer (appointed June 2025). No public fundraising is planned; continued support is expected from the principal funder.
**2**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 March 2025**
## **Auditor**
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
- 10 Dec 2025
The trustees' annual report and the strategic report were approved on .............................. and signed on behalf of the board of trustees by:
Moudhy Al-Rashid (Dec 10, 2025,9:18am)
Dr M Al-Rashid Trustee
**3**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Trustees' Responsibilities Statement**
## **Year ended 31 March 2025**
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
**4**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Ninmah Trust**
## **Year ended 31 March 2025**
## **Opinion**
We have audited the financial statements of Ninmah Trust (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
- adequate accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
**5**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Ninmah Trust** _**(continued)**_
## **Year ended 31 March 2025**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the charity and the charity sector, we identified that the principal risks of non-compliance with law and regulations related to the Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and the audit procedures performed included:
- discussions with management including consideration of known or suspected instances of non-compliance with laws, regulation and fraud;
- challenging assumptions and judgements made by management in their significant accounting estimates;
- testing of non-purchase and sales ledger bank transactions;
- testing of purchase invoice authorisations.
Because of the inherent limitations of an audit, there is a risk that we will fail to detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Other matters**
The financial statements required an audit for the first time in the year ended 31 March 2025. The comparative figures have not been audited.
## **Use of our report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**6**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Ninmah Trust** _**(continued)**_
## **Year ended 31 March 2025**
Patrick Heaton (Dec 19, 2025, 10:04am)
Gibson Booth Chartered Accountants New Court Abbey Road North Shepley Huddersfield HD8 8BJ
Gibson Booth is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
## 19 Dec 2025
**7**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Statement of Financial Activities (including income and expenditure account)**
## **Year ended 31 March 2025**
|||||Period from|
|---|---|---|---|---|
|||||29 Mar 23 to|
|||Year to 31|Mar 25|31 Mar 24|
|||Unrestricted|||
|||funds|Total funds|Total funds|
||**Note**|**£**|**£**|£|
|**Income and endowments**|||||
|Donations and legacies|**5**|1,323,226|1,323,226|137|
|Investment income|**6**|6,309|6,309|–|
|||──────────|──────────|───|
|**Total income**||1,329,535|1,329,535|137|
|||══════════|══════════|═══|
|**Expenditure**|||||
|Expenditure on charitable activities|**7,8**|(42,544)|(42,544)|(128)|
|||──────────|──────────|───|
|**Total expenditure**||(42,544)|(42,544)|(128)|
|||══════════|══════════|═══|
|||──────────|──────────|───|
|**Net income and net movement in funds**||1,286,991|1,286,991|9|
|||══════════|══════════|═══|
|**Reconciliation of funds**|||||
|Total funds brought forward||9|9|–|
|||──────────|──────────|───|
|**Total funds carried forward**||1,287,000|1,287,000|9|
|||══════════|══════════|═══|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 11 to 14 form part of these financial statements.**
**8**
## **Ninmah Trust**
## **Company Limited by Guarantee**
## **Statement of Financial Position**
## **31 March 2025**
|||2025|2024|2024|
|---|---|---|---|---|
||**Note**|£|£||
|**Current assets**|||||
|Debtors|**12**|9||9|
|Cash at bank and in hand||1,296,879||–|
|||──────────||───|
|||1,296,888||9|
|**Creditors: amounts falling due within one year**|**13**|(9,888)||–|
|||──────────||───|
|**Net current assets**||1,287,000||9|
|||──────────||───|
|**Total assets less current liabilities**||1,287,000||9|
|||──────────||───|
|**Net assets**||1,287,000||9|
|||══════════||═══|
|**Funds of the charity**|||||
|Unrestricted funds||1,287,000||9|
|||──────────||───|
|**Total charity funds**|**14**|1,287,000||9|
|||══════════||═══|
|||10 Dec 2025|||
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Moudhy Al-Rashid (Dec 10, 2025,9:18am)
Dr M Al-Rashid Trustee
**The notes on pages 11 to 14 form part of these financial statements.**
**9**
## **Ninmah Trust**
## **Company Limited by Guarantee**
## **Statement of Cash Flows**
## **Year ended 31 March 2025**
||2025|2024|2024|
|---|---|---|---|
||£|£||
|**Cash flows from operating activities**||||
|Net income|1,286,991||9|
|_Adjustments for:_||||
|Other interest receivable and similar income|(6,309)||–|
|Accrued expenses|5,467||–|
|_Changes in:_||||
|Trade and other debtors|–||(9)|
|Trade and other creditors|4,421||–|
||──────────||───|
|Cash generated from operations|1,290,570||–|
|Interest received|6,309||–|
||──────────||───|
|Net cash from operating activities|1,296,879||–|
||══════════||═══|
|**Net increase in cash and cash equivalents**|1,296,879||–|
|**Cash and cash equivalents at beginning of year**|–||–|
||──────────||───|
|**Cash and cash equivalents at end of year**|1,296,879
══════════||–
═══|
**The notes on pages 11 to 14 form part of these financial statements.**
**10**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements**
**Year ended 31 March 2025**
## **1. General information**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Third Floor, 20 Old Bailey, London, EC4M 7AN, United Kingdom.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £. The significant accounting policies consistently applied in the preparation of these financial statements are set out below.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## Significant judgements
No significant judgements have been made in the process of applying the entity's accounting policies.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
## Allocation of support costs
The allocation of support costs between activity types is an estimation based upon the type of work performed and expenditure required for each activity type.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
## **Incoming resources**
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
**11**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2025**
## **3. Accounting policies** _**(continued)**_
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
## **4. Limited by guarantee**
Dr M Al-Rashid is the sole member of the company. The company is limited by guarantee of the member and does not have a share capital. The liability of the member is limited to £1.
## **5. Donations and legacies**
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|2025|Funds|2024|
|||£|£|£|£|
||**Donations**|||||
||Donations|1,302,233|1,302,233|137|137|
||Donations - foreign exchange gain|20,993|20,993|–|–|
|||──────────|──────────|───||
|||1,323,226|1,323,226|128|137|
|||══════════|══════════|═══|═══|
|**6.**|**Investment income**|||||
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2025|Funds|2024|
|||£|£|£|£|
||Bank interest receivable|6,309|6,309|–|–|
|||═════|═════|═══|═══|
|**7.**|**Expenditure on charitable activities by fund type**|||||
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2025|Funds|2024|
|||£|£|£|£|
||Support costs|42,544|42,544|128|128|
|||══════|══════|═══|═══|
**12**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2025**
## **8. Expenditure on charitable activities by activity type**
|||Unrestricted|Total Funds|Total Funds|
|---|---|---|---|---|
|||Funds|2025|2024|
|||£|£|£|
||Charitable activities|31,216|31,216|128|
||Governance costs|11,328|11,328|–|
|||─────|─────|───|
|||42,544|42,544|128|
|||═════|═════|═══|
|**9.**|**Analysis of support costs**||||
|||Charitable|||
|||activities|Total 2025|Total 2024|
||||£|£|
||Bank Charges|118|118|–|
||Consulting|30,804|30,804|–|
||IT Costs|294|294|128|
|||─────|─────|─────|
|||31,216|31,216|128|
|||═════|═════|═════|
## **10. Staff costs**
The average number of employees during the period was nil (2024: none).
No employee received benefits of more than £60,000 during the period (2024: none).
## **10. Trustee remuneration and expenses**
During the period, no Trustees received any remuneration or other benefits and no Trustee expenses have been incurred (2024: none).
## **12. Debtors**
||2025|2024|2024|
|---|---|---|---|
||£|£||
|Prepayments and accrued income|9||9|
||═══||═══|
|**Creditors: amounts falling due within one year**||||
||2025|2024||
||£|£||
|Trade creditors|4,421||–|
|Accruals and deferred income|5,467||–|
||─────||───|
||9,888||–|
||═════||═══|
## **13. Creditors: amounts falling due within one year**
**13**
**Ninmah Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2025**
## **14. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**|||||||
|---|---|---|---|---|---|---|
|||At|1 April|||At 31 March|
||||2024|Income|Expenditure|2025|
||||£|£|£|£|
|General funds|||9|1,329,535|(42,544)|1,287,000|
||||═══|══════════|══════|══════════|
||At|29|March|||At 31 March|
||||2023|Income|Expenditure|2024|
||||£|£|£|£|
|General funds|||–|137|(128)|9|
||||═══|═══|═══|═══|
Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general charitable objectives.
## **15. Analysis of net assets between funds**
|||Unrestricted|Total Funds|
|---|---|---|---|
|||Funds|2025|
|||£|£|
|Current assets||1,296,889|1,296,889|
|Creditors less than 1 year||(9,889)|(9,889)|
|||──────────|──────────|
|**Net assets**||1,287,000|1,287,000|
|||══════════|══════════|
|||Unrestricted|Total Funds|
|||Funds|2024|
|||£|£|
|Current assets||9|9|
|Creditors less than 1 year||–|–|
|||───|───|
|**Net assets**||9|9|
|||═══|═══|
|**Analysis of changes in net debt**||||
||At 1 Apr||At 31 Mar|
||2024|Cash flows
|2025|
||£|£|£|
|Cash at bank and in hand|–|1,296,879|1,296,879|
||═══|══════════|══════════|
## **16. Analysis of changes in net debt**
## **17. Related parties**
During the year, Dr M Al-Rashid, who is a trustee, made a donation without restrictions of £10,598 (2024: £137) to the charity. There are no balances outstanding as at 31 March 2025 (2024: £nil).
Also during the year, Ninmah Trust received a donation of £1,291,635 from Anat Group Overseas (PTC) Limited, as trustee of MNIR Discretionary Trust. A trustee of Ninmah Trust, Dr M Al-Rashid, is also the beneficiary of MNIR Discretionary Trust.
**14**