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2023-09-30-accounts

Charity registration number: 265673

Muhammadi Trust of GB & NI

Annual Report and Financial Statements for the Year Ended 30 September 2023

Muhammadi Trust of GB & NI

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 7
Statement of Financial Activities 8 to 9
Statement of Financial Position 10
Notes to the Financial Statements 11 to 26

Muhammadi Trust of GB & NI

Reference and Administrative Details

Trustees Ms K Z Fazil Mrs S K Rahman Mr M A Ramji Mr A H Gokal Principal Office 131 Walm Lane London NW2 3AU Charity Registration Number 265673 Auditor DSK Partners LLP Chartered Accountants & Statutory Auditors DS House 306 High Street Croydon CR0 1NG

Page 1

Muhammadi Trust of GB & NI

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 30 September 2023.

Objectives and activities

Objects and aims

Use of Trust premises known as The Muhammadi Trust Centre.

Muhammadi Trust centre is used to facilitate programmes and serve the needs of the community and Trusts' objectives. The Trust has successfully managed to rent out parts of the building to Aim Foundation who are still there on the first floor. This enabled the Trust to ensure that there is someone at the centre at all times and it enhanced the building further. This also assisted in partially covering the day-to-day running expenses of the centre. Aim Foundation also hire the main hall downstairs during the month of Muharram for their Majalis this year. There are also discussions with them to do a joint gathering every Thursday evening which was happening before Covid-19.

Page 2

Muhammadi Trust of GB & NI

Trustees' Report (continued)

Objectives, strategies and activities

Waadi Al Salaam (Cemetery)

The Trust has been offering burial service associated with the cemetery owned by the Trust. An internal subcommittee of Trustees and volunteers manage Waadi Al Salaam. The trustees are now looking to create more space for graves, order further slabs so that we can take further reservations. There is a shortage of space throughout London so new prices will be decided soon. New sales will mean further development at Waadi which is going to be beneficial for us.

The Centre at Walm Lane:

A lot of work at the trust has been taken on, however as it is an old building the works keeps on increasing and the contractors have to always attend to new issues. The trustees have advised Muharram committee to not use the trust this year for Muharram as works will not finish in time and it is better to also refurbish the interiors before we open for public again. The carpets and the kitchen requires urgent attention as the kitchen floor is completely rotten and cabinets are falling off. Aim has informed about further leaks on the other roof which will need to be attended too. However, things are shaping up well when the weather permits. Publication committee has been requested to check all the books in the storage upstairs and it will be better to bring them down to avoid them getting wet. We should perhaps make a library in the conference room downstairs to protect them. As we are refurbishing inside too, we will also repair both ladies and gents toilets and do refurbishment work on the first floor which is extremely important.

Religious Gatherings, Seminars & Lectures

The Trust is particularly proud to report the continuation of its annual commemorative programme held mainly in Urdu during the first 10 days of the Islamic month of Muharram. However, this year the attendance was not very impressive as the speaker was not appreciated by the public. Muharram committee must be very careful in future with their choice of speaker. The trust could not do regular weekly gathering of prayers and supplications are held at the Centre on Thursdays for the spiritual needs of the community. This programme was missed a lot and the trust intends to start as soon as refurbishment work has been completed.

Publications

The Trust has setup a publication sub-committee to look at the future publication requirements and has appointed a part time staff. The Trust continues to market its publications, for which worldwide orders are received through its website and some of the publications are well received by the universities offering courses in philosophy and religious studies. Some other religious institutes regularly order books and the trustees are hoping to get more publications organised in the future. The trustees have requested Ali Gokal to join the publication committee due to his knowledge and interest in this filed. This will assist the trust to resume its much desired work. It is through publications and seminars that Muhammadi Trust is also known and well respected and has built strong connections with national and international academics.

Page 3

Muhammadi Trust of GB & NI

Trustees' Report (continued)

Public benefit

The Trust will soon continue to facilitate lectures and seminars to create an awareness of and also encourage, the ethos of peace, justice and equality for the society we live in. More of these activities need to be arranged once the refurbishment work has been completed.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Plans for future periods

Aims and key objectives for future periods

In line with its aims and objectives, the future plans of the Trust include, but are not restricted to:

  1. Appointment of a new trustee which is an absolute necessity.

  2. Employ a full- time staff at the trust.

  3. Further equipment for the main hall for recording and digital projection facilities together with a new alarm system.

  4. To continue further works at Waadi, this will assist us to increase number of reservations of the graves.

  5. Continue regular seminars and conferences by next summer which take an intellectual approach to the theological, spiritual and social issues affecting our community in general and young people in particular.

  6. Through the medium of interfaith dialogues, the Trust wishes to encourage greater understanding between different communities and religious believes. We hope such forums shall provide an arena for co operation and unity based on knowledge and understanding.

Page 4

Muhammadi Trust of GB & NI

Trustees' Report (continued)

Structure, governance and management

Nature of governing document

The Trust is governed by virtue of the Trust's previous and present governance document, which was updated on 20th March 2006. All meetings have a written Agenda for discussion and review of the Trust's activities and finances for an efficient management and progression of its objectives. The proceeding of these meetings are recorded, approved and filed in the Trust's office.

All of the trustees have a generic responsibility for all matters related to the Trust. The board of Trustees consists of specialists in Education and different businesses. Hence, in relation to training, most of them are trained by their professional experience. The Trust has had one part time staff responsible for publication, seminars and marketing and another part time staff for day- to- day activities at the trust including Hall Hire and upkeep of the Centre.

The annual report was approved by the trustees of the charity on 28 May 2024 and signed on its behalf by:

......................................... Ms K Z Fazil Trustee

Page 5

Muhammadi Trust of GB & NI

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.

Approved by the trustees of the charity on 28 May 2024 and signed on its behalf by:

......................................... Ms K Z Fazil Trustee

Page 6

Muhammadi Trust of GB & NI

Independent Examiner's Report to the trustees of Muhammadi Trust of GB & NI

I report on the accounts of the charity for the year ended 30 September 2023 which are set out on pages 8 to 26.

Responsibilities and basis of report

As the charity trustees of Muhammadi Trust of GB & NI you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Muhammadi Trust of GB & NI's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of Muhammadi Trust of GB & NI as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

...................................... Mr Dhirajlal Shah Chartered Accountants & Statutory Auditors DSK Partners LLP

DS House 306 High Street Croydon CR0 1NG

28 May 2024

Page 7

Muhammadi Trust of GB & NI

Statement of Financial Activities for the Year Ended 30 September 2023

Note
Income and Endowments from:
Donations and legacies
Investment income
4
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20
Note
Income and Endowments from:
Donations and legacies
Investment income
4
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
11,395
44,468
22,717
78,580
(29,362)
(94,462)
(123,824)
(45,244)
(45,244)
1,997,595
1,952,351
Unrestricted
funds
£
1,120
39,128
26,509
66,757
(42,053)
(83,846)
(125,899)
(59,142)
(59,142)
2,056,737
1,997,595		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
11,847
11,847
Restricted
funds
£
-
-
-
-
-
-
-
-
-
11,847
11,847		 Total
2023
£
11,395
44,468
22,717
78,580
(29,362)
(94,462)
(123,824)
(45,244)
(45,244)
2,009,442
1,964,198
Total
2022
£
1,120
39,128
26,509
66,757
(42,053)
(83,846)
(125,899)
(59,142)
(59,142)
2,068,584
2,009,442

The notes on pages 11 to 26 form an integral part of these financial statements. Page 8

Muhammadi Trust of GB & NI

Statement of Financial Activities for the Year Ended 30 September 2023 (continued)

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 20.

The notes on pages 11 to 26 form an integral part of these financial statements. Page 9

Muhammadi Trust of GB & NI

(Registration number: 265673) Statement of Financial Position as at 30 September 2023

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
17
Creditors: Amounts falling due within one year
18
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
19
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
20		 2023
£
1,278,749
539,844
1,818,593
157,920
-
153,229
311,149
(58,338)
252,811
2,071,404
(107,206)
1,964,198
11,847
1,952,351
1,964,198		 2022
£
1,188,971
540,926
1,729,897
159,600
1,666
297,764
459,030
(58,554)
400,476
2,130,373
(120,931)
2,009,442
11,847
1,997,595
2,009,442

The financial statements on pages 8 to 26 were approved by the trustees, and authorised for issue on 28 May 2024 and signed on their behalf by:

......................................... Ms K Z Fazil Trustee

The notes on pages 11 to 26 form an integral part of these financial statements. Page 10

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Muhammadi Trust of GB & NI meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Page 11

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Page 12

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 13

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 14

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 15

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 16

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
3
Income from charitable activities
Waadi income
Book Sales
Hall Bookings
4
Investment income
Other investment income
Income from rents
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
11,395
11,395
Unrestricted
funds
General
£
-
1,125
21,592
22,717		 Total
2023
£
11,395
11,395
Total
2023
£
-
1,125
21,592
22,717
Unrestricted
funds
General
£
1,886
42,582
44,468
39,128		 Total
2022
£
1,120
1,120
Total
2022
£
1,000
1,009
24,500
26,509
Total
funds
£
1,886
42,582
44,468
39,128

Page 17

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

5 Expenditure on raising funds

a) Costs of generating donations and legacies

Note
Other direct costs of generating voluntary
income
6
Expenditure on charitable activities
Waadi Expenses
Mujalis Expenses		 Unrestricted
funds
General
£
27,682
Unrestricted
funds
General
£
3,682
24,000
27,682		 Total
2023
£
27,682
Total
2023
£
3,682
24,000
27,682		 Total
2022
£
37,013
Total
2022
£
21,065
15,948
37,013

Page 18

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

7 Analysis of governance and support costs

Governance costs

Staff costs
Wages and salaries
Social security costs
Pension costs
Audit fees
Other fees paid to auditors
Legal fees
Depreciation, amortisation and other similar costs
Other governance costs		 Unrestricted
funds
General
£
29,755
-
180
3,161
-
20,212
41,154
94,462		 Total
2023
£
29,755
-
180
3,161
-
20,212
41,154
94,462		 Total
2022
£
22,575
70
-
3,034
507
18,359
39,301
83,846

8 Net incoming/outgoing resources

Net outgoing resources for the year include:

Depreciation of fixed assets 2023
£
20,212		 2022
£
18,359

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 19

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

10 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
29,755
-
180
29,935		 2022
£
22,575
70
-
22,645

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2023
No
Administrative staff
2
No employee received emoluments of more than £60,000 during the year
11 Auditors' remuneration
2023
£
Other fees to auditors
All other non-audit services
3,161		 2022
No
2
2022
£
3,034

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 20

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

13 Tangible fixed assets

Cost
At 1 October 2022
Additions
At 30 September 2023
Depreciation
At 1 October 2022
Charge for the year
At 30 September 2023
Net book value
At 30 September 2023
At 30 September 2022		 Land and
buildings
£
1,533,665
109,990
1,643,655
347,275
19,825
367,100
1,276,555
1,186,390		 Furniture and
equipment
£
59,808
-
59,808
57,227
387
57,614
2,194
2,581		 Total
£
1,593,473
109,990
1,703,463
404,502
20,212
424,714
1,278,749
1,188,971

Included within the net book value of land and buildings above is £1,276,555 (2022 - £1,186,390) in respect of freehold land and buildings and £Nil (2022 - £Nil) in respect of leaseholds.

14 Fixed asset investments

14 Fixed asset investments
Investment properties
Other investments		 2023
£
468,250
71,594
539,844		 2022
£
468,250
72,676
540,926

Page 21

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

Investment properties

Investment properties
Cost or Valuation
At 1 October 2022
Provision
At 30 September 2023
Net book value
At 30 September 2023
At 30 September 2022
Other investments
Cost or Valuation
At 1 October 2022
Revaluation
At 30 September 2023
Net book value
At 30 September 2023
At 30 September 2022
15 Stock
Stocks		 Unlisted
investments
£
72,676
(1,082)
71,594
71,594
72,676
2023
£
157,920		 Investment
properties
£
468,250
-
468,250
468,250
Total
£
72,676
(1,082)
71,594
71,594
72,676
2022
£
159,600
71,594
71,594
72,676
2023
£
157,920

Page 22

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

16 Debtors

Other debtors
17 Cash and cash equivalents
Cash on hand
Cash at bank
18 Creditors: amounts falling due within one year
Bank loans
Trade creditors
Other taxation and social security
Other creditors
Deferred income		 2023
£
-
2023
£
708
152,521
153,229
2023
£
18,385
4,750
355
2,848
32,000
58,338		 2022
£
1,666
2022
£
513
297,251
297,764
2022
£
15,763
4,750
1,339
4,702
32,000
58,554

Creditors due within one year includes the following liabilities, on which security has been given by the charity:

charity:
2023 2022
£ £
Bank loans 18,385 15,763

Page 23

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

19 Creditors: amounts falling due after one year

Bank loans 2023
£
107,206		 2022
£
120,931

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the charity:

security has been given by the charity:
2023 2022
£ £
Bank loans 107,206 120,931

Page 24

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

20 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted
General
Restricted
Total funds		 Balance at 1
October 2022
£
1,997,595
11,847
2,009,442
Balance at 1
October 2021
£
(2,056,737)
(11,847)
(2,068,584)		 Incoming
resources
£
78,580
-
78,580
Incoming
resources
£
(66,757)
-
(66,757)		 Resources
expended
£
(123,824)
-
(123,824)
Resources
expended
£
125,899
-
125,899		 Balance at 30
September
2023
£
1,952,351
11,847
1,964,198
Balance at 30
September
2022
£
(1,997,595)
(11,847)
(2,009,442)

Page 25

Muhammadi Trust of GB & NI

Notes to the Financial Statements for the Year Ended 30 September 2023 (continued)

21 Analysis of net assets between funds

21 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
22 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 Unrestricted
funds
Total funds
at 30
September
General
£
2023
£
1,278,749
1,278,749
539,844
539,844
311,149
311,149
(58,338)
(58,338)
(107,206)
(107,206)
1,964,198
1,964,198
Unrestricted
funds
Total funds
at 30
September
General
£
2022
£
1,188,971
1,188,971
540,926
540,926
459,030
459,030
(58,554)
(58,554)
(120,931)
(120,931)
2,009,442
2,009,442
At 1 October
2022
At 30
September
2023
£
£
297,764
153,229
297,764
153,229
At 1 October
2021
At 30
September
2022
£
£
397,286
297,764
397,286
297,764		 Total funds
at 30
September
2023
£
1,278,749
539,844
311,149
(58,338)
(107,206)
1,964,198
Total funds
at 30
September
2022
£
1,188,971
540,926
459,030
(58,554)
(120,931)
2,009,442

Page 26

Muhammadi Trust of GB & NI

Statement of Financial Activities by fund for the Year Ended 30 September 2023

Total Total
Unrestricted Unrestricted
Funds Funds
2023 2022
£ £
Income and Endowments from:
Donations and legacies 11,395 1,120
Investment income 44,468 39,128
Other income 22,717 26,509
Total income 78,580 66,757
Expenditure on:
Raising funds (29,362) (42,053)
Charitable activities (94,462) (83,846)
Total expenditure (123,824) (125,899)
Net expenditure (45,244) (59,142)
Net movement in funds (45,244) (59,142)
Reconciliation of funds
Total funds brought forward 1,997,595 2,056,737
Total funds carried forward 1,952,351 1,997,595

This page does not form part of the statutory financial statements. Page 27

Muhammadi Trust of GB & NI

Statement of Financial Activities by fund for the Year Ended 30 September 2023 (continued)

Income and Endowments from:
Expenditure on:
Net income/(expenditure)
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2023
£
-
11,847
11,847		 Total
Restricted
Funds
2022
£
-
11,847
11,847

This page does not form part of the statutory financial statements. Page 28

Muhammadi Trust of GB & NI

Detailed Statement of Financial Activities for the Year Ended 30 September 2023

Income and Endowments from:
Donations and legacies (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2023
£
11,395
44,468
22,717
78,580
(29,362)
(94,462)
(123,824)
(45,244)
(45,244)
2,009,442
1,964,198		 Total
2022
£
1,120
39,128
26,509
66,757
(42,053)
(83,846)
(125,899)
(59,142)
(59,142)
2,068,584
2,009,442

This page does not form part of the statutory financial statements. Page 29

Muhammadi Trust of GB & NI

Detailed Statement of Financial Activities for the Year Ended 30 September 2023 (continued)

Donations and legacies
Appeals and donations
Investment income
Income from investment properties
Income from other investments
Other income
Other income - Waadi income
Other income - Book sales
Other income - Hall bookings
Raising funds
Other fundraising costs - Waadi expenses
Other fundraising costs - Mujalis expenses
Opening stock
Closing stock
Charitable activities
Wages and salaries
Staff NIC (Employers)
Staff pensions
Rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Office expenses
Computer software and maintenance costs
Trade subscriptions
Sundry expenses
Cleaning
Travel and subsistence
Accountancy fees
Legal and professional fees
Bank charges		 Total
2023
£
11,395
11,395
42,582
1,886
44,468
-
1,125
21,592
22,717
(3,682)
(24,000)
(159,600)
157,920
(29,362)
(29,755)
-
(180)
(1,537)
(7,141)
(4,669)
(13,632)
(1,803)
(128)
(600)
(498)
(1,723)
(1,874)
(107)
(3,161)
-
(93)		 Total
2022
£
1,120
1,120
38,059
1,069
39,128
1,000
1,009
24,500
26,509
(21,065)
(15,948)
(164,640)
159,600
(42,053)
(22,575)
(70)
-
(1,895)
(3,952)
(4,424)
(8,431)
(1,726)
(101)
-
-
(1,198)
(1,488)
-
(3,034)
(507)
(84)

This page does not form part of the statutory financial statements. Page 30

Muhammadi Trust of GB & NI

Detailed Statement of Financial Activities for the Year Ended 30 September 2023 (continued)

Loan interest
Depreciation of freehold property
Depreciation of fixtures and fittings
Depreciation of office equipment
(Gain)/loss on UK investments		 Total
2023
£
(6,267)
(19,825)
(62)
(325)
(1,082)
(94,462)		 Total
2022
£
(2,351)
(17,904)
(72)
(383)
(13,651)
(83,846)

This page does not form part of the statutory financial statements. Page 31