REGisfERED CHARTfY NUMBER: 261188 REPORT OF THE TRUSTELS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED JI DECEMBER 2023 FOR AbMEDINA TRUST Presto8 & Jacksons Partnership LLP 364- 368 Cranbrook Road Ilford Essex IG2 6HY
AL-MEDtNA TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Report of the Trnstees Ind¢peDd¢ni EMIller's Report Statement of Fth#o¢ll Adivi¢i¢s S¢tem¢nt of TrryDglltll Posltlo No¢es to the FiDatt¢ll Sl¢ements 7 to 12 Detalled S¢ltmeDt of Fim*llcl•l Atthltlel 13
AL-MEDINA TRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The tn]stees present their ryrt with the financial statements of the chariry for the year ended 31 De¢ember 2023. The tte¢S have adopted the provisions of Accounting and Reporting by Charities.. Statement of R¢commended Pra¢ti¢e appIlble to charities preparing their a¢¢ounts in a¢¢ordan¢e with the Finan¢ial Rew>rting Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OWECTIVES AND AcfJviTIES Objectives and Public Ben¢fJts a) To advan¢¢ and to propagat¢ Islam throughout the world. b) To relieve p)verty among Muslim5 in any part of the world. ¢) To advan¢¢ education g¢n¢rally and the education of Muslims in p4rti¢vlar. d) To support other charitable instilulions having objecls similar lo those above mentioned. e) Such other purposes (being exclusively Clwithble) as may be declared by the trusiees. ACHIEVEMENT AND PERFORMANCE Cbarlible Activititj The charity continued advan¢¢ Islami¢ edWati0 supwt to fwth¢r the edwion of poor s¢ud¢nts. all¢viat¢ poverty and support charitable institutions with similar objects. The following organisation5 were ihe main benefKiaries: The Markfield Inslilul¢ of Higher Edu¢aiion - Kube Publi5hing- Children books for NHS children wards Human Car¢ Initiaiiv¢ - Transforni Your Life Programme Besides the abov¢, the charity provided funding to individual students in finan¢ial hardship. FINANCIAL REVIEW VID*Dclal posliloD Total income for the year amounted to £164,041 (2022.. £163,009). while totsl expendire for the year amount¢d to £96,395 (2022- £45.711). Overall net surplus was £67,640 (2022- £117, 298). An irse from pr¢vious year was du¢ lo a higher rental income. Total funds carried forward was £2.345.703 {2022.. £2,278,057) of which all weTe unrestricted. Investment polley and objectives In acrordanoe with the objedive charity managed ils invesm)enl properties through the Covid period without ny adverse effects of th¢ pandemi¢. Rejervd poll¢y The trustees consider thal the reserves held are sufficient to continue the charities activily in future years. The Iruslees actively review the major risks which ihe ¢hariiy faces on a regular basis and have also examined other operational and business risks faced by the charity. The trustees confirni that they have establi$hed systems to mitigate the si8nifi¢ant risks. STRuuRE, GOVERNAIYCE AND MANAGEMENr Governing documell¢ The charity is controlled by its governing documenL a deed of trt and coThstitutes an unirKorporated Chlty. Page I
AL.MEDINA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRucfuR[ GOVERNANCE AND MANAGEMENT Orggni$ationl stru¢tu The charity trnste¢s are responsible for ihe general Control and management of th¢ charity. The trustees give their time freely and receive no r¢munerdtion or other financial benefits. Th¢ trustees al the rnomenl meet together as a body when and as required and are resp)nsible for all decision5 taken in relation to running the a¢iivities provided by the charity. The chariry is currently in pro¢ess of appointing more trusie¢s in view to expand and be more proaclive. lllduetloll and tr8lnlng ofnew trustees Following appoinlment. new trustees will be introduc•J to their new rol¢ and are requested to familiarise Ihems¢lves with contents of the trusts consiitution and to the policies and procedures adopt¢d by the charity. They are also requested io read a number of publicalions from the Chariiy Commission to enSUTe thai they are aware of the scope of their responsibilities Under the Charities Act. The new trustees will work ¢ollectively with existing trustees wisting on parlicular activities and projects by the charity. io attain maximum benefits for the charity. Public beDeflt The irus¢ee$ have recognised the guidan¢e in the Charity Commission's general gUIdae on public benefii when reviewing the aims and obj¢ctives of the charity and when plannin8 activities. The difference th¢ chariry makes for the public benefit is the furtheran¢¢ of education to poor students and ¢l¢vatin8 poverty. Rlsk man8ement The ¢rustees have a duty to identify and review th¢ risks to which the charity is expos¢d and to ensure appropriaie controls are in place io provide reasonable assuran¢¢ against frdud and error. REFERENCE AND ADMINISTRATIVE DETAIiS Reglitered Charlty Dumber 261188 Prlnclpal address Markfield Confer¢nce Centre Ralby Lane, Markfield Leiceslershir¢ LE67 9SY Trustees Dr Mana7Ar Ahsan (Chairnian) Professor Khurshid Ahmad Mr MUamad Saeed Chowdhury Mr Ismail Gitay (Treasurer) Mr Farooq Murad (secretary) Dr Zahid Paryez Independent Eumlner Anwer Patel Prestons & Jacksons Partnership LLP 364- 368 Cronbrook lioad Ilford Essex IG2 6HY Page 2
AMEDIA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 4..- IK................ .... and stgned on its behalf by.. Approved by order of the board of trustees on ........ Trustee , qITAY Pag¢ 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AL-MEDINA TRUST llldepelldellt eAmiMer's to the trnlees of Amedia Trnst I report to the charity trustees on my ¢xamiDatson of the accounts of Al-medina Trust (the Trust) for the year ended 31 December 2023. Responslbijities and basis of report As the charity Irusl¢¢s of the Trust YOLT are responsible for the preparation of the accounts in accordance with the T¢quirements of the Charities Act 2011 (Ihe Ace). I report in respect of my examination of the Trusvs accounts carried under S¢¢tion 145 of the Act and in carying out my examination I have followed 4]1 applicable Directions given by the Charity Commission under Section 145{5Xb) of the Act. IDdependent eMmlner's s¢temenl I have ¢ompleted my examination. I confinn thai no malerial matters have come to my attention in connection with the examination giving me cause to believe thai in any material respect: accounling records wer¢ noi kept in respect of the Trusi &s Tcquired by Section 130 of the Act. or the ac¢ounts do nol accord with those records: or the accounts do noi comply with the applicable requirements Concerning the fomi and contenl of a¢¢ounls set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounis give a true and fair view which 15 a man¢r considered as part of an ind¢pend¢nl examinaiion. I hAve no ¢on¢erns and have come across no rfh¢r matters in connection wirh ihe examination to which attention should be drawn in ihis r¢p)rt in order to enable a proper understanding of the A¢counls to b¢ reached. Anwer Patel Pr¢stons & Jacksons Partnership LLP 364 - 368 Cranbrook Road Ilford Essex IG2 6HY Page 4
AL-MEDINA TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 Unrestricted Total fund funds Notes INCOME FROM Investmenl income 164,041 163.009 EXPENDITURE ON Charltable *¢¢lvl¢le8 Charitable Aciivities 96J95 45.711 NET INCOME 67,646 117.298 RECONCILIATION OF FUNDS Total lund5 brought forward 1278,057 2,160.759 TOTAL FUNDS CARRIED FORWARD 2J43,703 2,278.057 The notes fonn part of the fJnan¢ial statements Page 5
AL-MEDINA TRUST STATEMENf OF FINANCIAL POSITION 31 DECEMBER 2023 31.12.23 31.12.22 Unrestricted Totsl fund funds Notes FIXED ASSETS Inv¢stment property 1.927270 .927.270 CURRENf ASSETS Debtors Cash ai bank 6,535 378,178 445.811 452,699 384,713 CREDITORS Amounts falling due wiihin one year io (34266) (33.926) NET CURRENT ASSETS 418,433 350,787 TOTAL ASSETS LESS CURRE]¥T LIABILITIES 1345.703 2,278,057 NET ASSETS 2J45,703 2.278.057 FUNDS Unrestricted funds 2J45,703 2.278.057 TOTAL FUNDS 2J43,703 2.278.057 The financtal s atements were approved by the Board of Trustees and authorised for issue on . and were signed on ils behalf by-. Trustee r, £. GifAY The notes fomi part of these fmancial statements Page 6
AL-MEDINA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES B¥sis of preparijbg ¢h¢ fion¢il $tt¢mettts •nd ssts%ment of going eoneern Th¢ financia] statements have been prepared under the historical cost convenlloll with items recognised at ¢OSl or transaction value unless otherwise staled in the rel¢vant note(s) to thes¢ accounts. The financ1 ststements have beeTr prepared in accordance wilh the Statement of Recommended Pracii¢e'. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ITeland (FRS102) issued on 16 July 2014 and the FInCIal Reporting Siandard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charittes Act 2011. The trust consiilutes a publi¢ benefit eniity defjned by FRSIO2. The trustees nsider thal there are no material UertaIn¢S about the Tr$ ability to continue as a going Concern. GolTrz ¢oDeer Trustees confirni they secured sufficienl investment income for the next twelve months to keep the Trust rumling. Tenants have not defaulted on their rentsl payment and no provision for doubrful debts are deemed necessary for the next twelve months peri4)d. As a reason of this. the trustees consider that theTe are no material uncertainties About the Trust's ability lo ntInUe a 80ing co¢M. Income All rental income 1$ ogniSed in the Statement of Financial Activities once the chariry has entitlement to the funds, it is probable thai the income will be on a receivable basis and the amount can be measured reliably. Expendilure and Irrecoverble vt Liabilities are recognis¢d 0$ expenditure soon as there is a legal or conslructive obligation committing ihe chariry lo thai expendilure. it is probable thai a transfer of e¢onomi¢ benefits will b¢ requiied in settlemenl 8nd the Amount of the obligaiion can be me&8ured reliably. Expenditure is accounted for on an accruals basis and has been ¢l&ssifi¢d wjder headings that aggregate all ¢ost relaled lo the ¢ategory. Where costs wjnot be directly attribed to particular heingS they have been allocaled to aclivilie5 on a basis consistem wilh the use of r¢sour¢es. Irrecoverable VAT is charged a8aAnM the expendiwre headin8 for which it was incurred. Grants offered subject lo Conditions which ha not b¢en met at the yw ¢nd date are noted ¢ommiimenl bul not expenditure. Invejtment property Investment property is shown at mosl receni valuation. Any aggregate surplus or deficit arisin8 from changes in fair value is transferred to the SOFA. Tax4tioD The charity is exempt frorn on its charitable activitie5. Fulld a¢countiDg Unrestricted funds can be used in accoTdance with the charitsble objective5 al the discretion of th¢ trustees. Page 7 continued...
AL-MEDINA TRUST NOTES TO THE FINANCIAL sTATEME1s - continued FOR THE YEAR ENDED 31 DECEMBER 2023 AccouNfiNC POLICIES- CODtinued Fund accouD¢iTrg Restricted funds can only be wed for particular restrIcA pUrFe$ within th¢ objects of the charity. Restrictions aris¢ when specified by the donor or when fimds are Taised for Iwlicular restricted purposes. Further explanalion of the nature and purSe of each fund is included in ihe not¢$ to the rlnancial atemenls. Debton Basic financial &ssets. including trade and other debtors, are initially recognised at transaction price, unless the arrdngemeni conlI¢s a fmancing transactio where the trans&¢iion is me&8ured al ihe present value of the future receipis discoUnd at a market rate of inteTesl. Such &ssets are Subsequently cattied at amonised cost SIng the effective interesi meihod less any impaimjent. Credlton Basic financial liabilities, including trade and other creditors, loans from third parties and loarks from related panies, are initially recognised ai transa¢iion pric¢. unless the arrangemeni constilutes a financing tranmctiorn where the debt instrument is measured at ihe present value of the fUre payments dIOUnted at a market rnte of interesl. Such instruments are SubSeqnt]Y carried at amortised cosi using ihe effe£liv¢ int¢rvJt method, less any impairnbent. INVESTMENT INCOME 31.12.23 31.12.22 Rents Re¢¢ivable Bank Investment Income 160,773 3,268 161,239 1,770 164.041 163,1)09 CHARITABLE A1VITIEs cOs Grant funding of tivities (s¢¢ not¢ Dire Costs Support costs 4) Totals Clwitable A¢livili¢5 &034 79J94 8.967 995 Pag¢ 8 continue4J...
AMEDIA TRUST NOTES TO THE FINANCIAL ATEmENTs - continued FOR THE YEAR ENDED 31 DECEMBER 2023 GRANTS PAYABLE 31.12.23 31.12.22 Charitable Activities 79J94 31.304 The iotal grants paid io institutions during the year was follows.. 31.12.23 31.12.22 Marfield Institute of Higher Education Islamic Foundation Kube Publication Limited. UK Human Care Human Aid Siraj Ganj Bangladesh IF New Muslim Project Hilful Fuzul Trust MA BOSNIA Help In Need Pakistan Marfield In51ilute of Higher Education- Conference Asif Khannan- Uni of Edinburgh M Sharif - Uni of Herffordshire Zanzibar Charily The Islamic Foundation- IPS 45,1)00 7,IM)O 5W)4 40.000 5.104 (5.000) (5,000) (5,000) (8,800) (5,000) 5.000 2,000 2.000 5,000 7,500 79J94 31.304 TRUSTEES, REMUNERATION AND BENEFITS There were no tnLStees' remuneralion or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, exp¢n$ There were no ttee5, expenses paid for the year ended 31 Dec¢mb¢r 2023 nor for the year ended 31 December 2022. Page 9 continued...
AL-MEDINA TRUST NOTES TO THE FINANCIAL STATEMENfs- continued FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVLS FOR ThE STATEMENf OF FINANCIAL AcfiviTIES 2022 Unreslricted fund INCOME FROM Investment income 163,009 EXPENDITURE ON Chirit*ble g¢tlvl¢le8 Charitable Activities 45,711 NET INCOME 117.298 RECONCILIATION OF FUNDS Total funds brought forward 2.160,759 TOTAL FUNDS CARRIED FORWARD 2.278,057 KEV MANAGEMENT PERSONNEL The Tn1¢¢$ are the Key Managment Personnel in the year. INVESTMENT PROPERTY FAIR VALUE At l January 2023 and 31 December 2023 1,927270 NET BOOK VALUE Al 31 December 2023 1,927270 Ai 31 December 2022 1.927,270 Pag¢ 10 continued...
AMEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 DEBTORS: AMOUNTS FALLING DUE wrfHIN OY4E YEAR 31.J2.23 31.1222 Trade debtors Prepaymenls atMI accrued income 790 6,098 6,535 6,888 6,535 10. CREDITORS: AMOUNTS FALIJIYG DUE WITHIN ONE YEAR 31.1223 31.12.22 Trade creditors Tation and social security OiheT ¢rediiors 12,500 2,803 18.963 5,453 28,473 34J66 33,926 11. MOVEMENT IN FUNDS Net movement in funds At 31112123 At111123 UDrotrieted General fund 2278,057 67,646 2J45,703 TOTAL FUNDS 2278.057 67.646 2J45,703 Nct mov¢meni ij) fund5, included in the alK)ve are as follows: Jncoming Resources Movement resour expended in funds Unrestrl¢ted fuDdJ General fund 164,041 (96J95) 67,646 TOTAL FUNDS 164,041 (96,395) 67,646 Page 11 conlinued...
AL-MEDINA TRUST NOTES TO THE FLYANcL STATEMENTS - eontinmed FOR THE YEAR ENDED 31 DECEMBER 2023 11. MOVEMENT IN FUNDS- coDtitiued Comp•ratives for movemeD¢ in luuds Net movement in funds At 31112122 At 111122 Unrestrieted fundj General fund 2.160.759 117298 2,278.057 TOTAL FUNDS 2.160.759 117,298 2.278.057 Comparalive nel movement in fund4 included tn the atx)ve are follows: Incoming Resources Movement resources expended in funds Unres¢rkted fundj General fund 163.009 (45,711) 117.298 TOTAL FUNDS 163,(X)9 (45.711) 117,298 12. RELATED PARTY DISCLOSURES Professor Khurshid Ahmad and Dr Manaztr Ahsgn. trLLsl¢es of Al- Medina Tn1, are also trustees of Th¢ Markfield Inslitule of Higher Educalion which received £45,000 from Al- Medina Trnst in the year. (2022- £40.0(X)}. Neither Professor Khurshid Ahmad. Dr Manazir Ahsan nor Mr Ismail Gitay on any committee which approved ihe above funding to the instilutes. 13. INDEPEIYDENT EXAMINERS FEE 31.12.23 31.12.22 Independent Examiners Fee ,440 1,440 Page 12
AL-MEDIIYA TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 INCOME Investment Income Rents Receivabl¢ Bank Investh)ent Income 160,773 3368 161.239 ,770 164,041 163,IM)9 To¢1 l•eomln8 resoureey 164,041 163.009 EXPENDITURE Cbarltble ¢tlvltle Agent Commission Grants lo instiiutions 8,034 79J94 7.416 31,304 87,428 38.720 Support ¢oits Fitt#nee Insurance 727 366 lllforni8tlon teebDoIo%y Repairs and renewals 490 1.040 Govern*n¢e ¢osts Ind¢p¢ndenl Examiner Fees O¢h¢r Professional Costs 1.560 4.025 250 1,750 5,585 Toial resources expended 96J95 45,711 Ne¢ income 67,646 117,298 This page does not fomi part of the statutory financial statements Pag¢ 13