REGISTERED CHARITY NUMBER: 286459 REPORT OF THE TRuEEs AI¥D AUDITED FINANCIAL sTATEMs FOR THE YEAR ENDED 31 MARCH 2025 VOR SEVEN KINGS MUSLIM EDUCATIONAL TRUST Prestons & Jacksons Partnership LLP Statutory Audiiors 364- 368 Cranbrook Rowl Ilford IG2 6HY
SEVEN iaNGS MUSLIM EDUCATIONAL TRUST CorENTs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Pge Report ofthe Trustee8 I to 5 Report of th¢ Indepe•d¢•t Allditorj 6 to 9 Stslement of Flnnctsl ActIvI¢8 10 Sts¢ement of Flll•ncl*l PNltlon Notu to the Flllan¢knl Sts¢em¢Dts 12 to 18 Drt#lled S¢it¢m¢nt of Flumclal Aethiltle4 19 20
SEVEN KINGS MUSLIM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trLK8tee5 present their rert with the finan¢ial statements of the charity for the ye8T ended 31 March 2025. The tteeS have adopted the provisio8 of Accounting and Reporting by Charities: Statement of R¢¢ommended Pra¢¢i¢¢ applicable ¢0 charities prepgJing their accounts in accordance with the FinAn¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive l January 2019). OWECTIVES AND ACnVITIES ObJe¢¢fves IIDd alzDS Th¢ prin¢ipai aims of th¢ Tntst are: - To advance the religion of Islam through the promotion of its teachings in cOrdanCe with ihe Sunn Honaf School of Thought. - To provide facilities for worship and Islamic education. To faciliiate public celebration of Islamic religious festivals. - Tg distribut¢ lit¢ralure on ih¢ Islamic faith to promm¢ bett¢r understanding. - To promote other Charitable purposes for the benefit of Muslims and the wider commwiity. Our long-lenn vision is lo f051er a peaceful, vibrant, and harnionious wmmunity in the Seven Kingg area by offering inclusive facilities 1 meaningful pro8rammes for spiritual and community development. Publ1¢ BeDeflts The trustees confinn that they have complied with th¢ duty in section 4 of ihe Charities A¢t 2006 10 have due regard to public bet)efit 8uidance published by the Commission in deterniining the activites undertaken by the Charity. Volunteers Most of the ¢h8rily's activities involve volunteers in the delivery of its activiiies. We are, 8s aiways, grateful to these volunteers in making the activilies of our centre a spiritua] and pl¢8sanl experience for the public. Page I
SEVEN KtNGS MUSLIM EDUCATIONAL TRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Aetivities aDd ehlevemeDts l. SupplemeDtary S¢h•)ol (Children's Clas8u): In partnership with Al Misbaah Academy (AMA). w¢ have continuwj to provide higbuality Islamic edu¢ation to children agj be¢¢n S and 16. Classes are held on weekdays. with continued posirive Progress from students and strong community supwL IAliimiyyah Programme (F¢thxlt Seholrship): Running successfully since 2017, this inten5iv¢ six-year programme now serv¢5 over 70 teenage girls, operating Monday to Friday. This year. 13 students graduated. with a celebratory ceremony. Severnl graduales have sin¢¢ joined &s teacheTS or assistsnts in our educationAI proyammes. 3. Hlfdh Progrirnme (Qur'n Memorhsltlon): We continue lo run a dedicated Hifdh clas5 for the memorisation of the QuffaN with 15 students currently enrolled. A specialist inslnKlor supports their Spiritual and academic developmenl. Many graduates of this programme have gone on lo l¢ad prayers attoss Londo Adult Edu¢atlon: We offer a variety of tsilored ¢venin8 ¢las$es for adults. bh male and female. These Inc1je b¢ginner Qurf4n readin8 classes sessions on other Islami¢ sciences. supporting lifelong learning wlthin our community. S. Youth Work: We re¢ogDiS¢ the importance of empow¢TiD8 our youth. Our major youth initiatives thi5 year in¢lude'. - Youth Centre Lauh. In partrter5hip wiih Al Misb8ah Academy. we supported the eslablishrnem of ihe Al Misbaah Youth Centre (AMYC). op¢n¢d in AugLLSt 2024 near our main site. 11 has since hosted a wide range of workshops and events. engaging over i.il)O young people. - F&jr Knights Initiative.. For the third Mnsecutive year. w¢ ran thiy motivational programme encouraging young Muslims to 8ttend ihe early mornin8 prayer. Participants rtteiv¢d gifts, and hi8h a¢hievers w¢re awarded with Certificates. vouch¢r4 and medals. A commun81 breakf&81 W&8 provided daily througfvjut the iniliAtive. - Youth Ha]aqah (SNdy Circle): Once a modest gathering of around 15. our weekly haiaqah now regularly aitracts over 100 young att¢ndee5, engaging them with internciive ond spiritua]ly enriching content. FINANcL REVIEW R¢5¢rves poliey Reserves are needed lo bridge the gap between the spending and receiving of income and to cover unpl¥Ju)ed emerg¢ncy repairs and other expenditure. The trst averag¢ monthly $pendin8 Was £9,411 (2024:£8.245) per month during year ended 31st March 2025. The Iru5tees consider that the ideal lev¢1 of reserves would cover six months spending which is approximately £56,466 (2024: £49,470). The currenl reserves ¢ome to £4270,812 (2024: £3.997,682) with cash ai bank of £l,001.425 (2024: £825.491) at the year end 31 March 2025.The trw8tees consider the tn1 is in a heahhy posttion to Continue supw)rt the charity objtiVes. GDiAg ¢on¢ern Th¢ trustees corL8ider ihe ¢h8rity lo hav¢ sufficieni funds to continue in operatiODS for a period of twelve month5. The trteeS therefore consider the charity to be 8 going concern. Page 2
SEVEN KINGS MUSLIM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Our strategic vision centres on making the Mo4ue a wel¢omin& inclusive space for all - both Muslims and those curlous to learn alM)Ut Islam. We ensure:: - The Mo4ue remai1 open daily for prnyer and retlectioffj with Friday prnyers se18 os A centra] focus ?. A strong emph&sis on education and CODllnunity welfar¢. offering programmas such as hrnith seminars. classes. and community events. - All activities are widely advertised and open to both Muslims and non-Muslim4 fostering cornmunity coh¢sion . Mosi services are provided free of clwge. fijnded by voluntary donations from generous supporters. sTRUURE. GOVERNANCE AND MANACEMENT Governing doeurnent The clwity i5 controllcd by its governing documenL a deed of trust and conslitules an unincortM)r&ted Charity. The chariry Is re8iStered as a Charity with Charity Commission for England al Wales. The ¢hArity is governed by trustees, who are responsible for the effective management of the orgAllis&iion. Meetings are held on a regular basis. Recrulimtttt attd #ppolntmeDt of new trle The existing trust¢¢$ gre responsible for th¢ r¢¢ruimi¢nt of new trust¢¢s. In selecting new trustees, we seek lo identify people who are committed individuals whose views are aligned to the charitys vision in addition lo being Able to offer relevant skills and experience. Potential trusiees are invited to attend trustees, meeting5 10 meet the trusiees aTtd have Inforni interview and are given mor¢ details abou¢ the charity's aims and a¢tivilie$ and if all awe. they are then proposed as new trustees at the subsequent trustees, mtttin& Thi5 process allows due ¢onsiderntion of the Pers,$ eligibility, personal ¢ompeten¢< spIllI5t knowledge and skilts. OrganisadoDal Jtructure Th¢ charity trStee$ ¢ r¢$ponsibl¢ for the genernl ¢ontrol and m¥nag¢ment of the charity. The tru51ees meet together a body and are responsible for the overall governance of Seven Kings Muslim Educational TnLSt and to oversee the management and day to day nmning of the charity. To organise the governance of the charity, the trustees are in the prrKess of settin8 up a number of SutcOMmItteeS to delegate key areL8 of responsibility. The day-l(H5g4y management of Seven king5 Muslirn Educati(¥nal Tru and administration of the projects are controlled by th¢ Board of Trust¢es. Page 3
SEVEN KINGS MUSLIM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRucfuRE GOVERNANCE AND MANAGEM lttductloD and tralDing of Dew trust¢es Following appointsn¢nL new trustees are introduced to their D¢W role and given copies of the governing documenl a copy of the most recenl "The Essential TnL8tee' guidance bookleL and a guide to the policies and predureS adopted by our ¢haTity. A number of publications from the Chariry Commission ore also provided including the guidance on charities and public benefit and on th¢ advancement of religion for the public b¢nefit. Thi5 ensures that new tnL8tees are aware of the su)pe of their responsibilities und¢r the Charities Act. Inilially. new trustees work with an existing tnjsirx assisting on particular activities and projecls run by the charity. After satisfa¢iory feedback from exisiing trust$, they are given the task of leading a particular acltvity or project. rep)rting progress at trustee's meetings. Rlsk m#Lgement The tNstees actively Teview the major risks which the charily fa(xs on a re8ular basis. Th¢ Irustees frequently consider the natw¢ of risks, the likelihood of the risks happening and the MeureS tsken lo manag¢ them. The trustees are salisfi¢d that the sy51ems are in pl, OT arrangements are in hand. to manag¢ ihe risks have been identified. Insurance cover is in place and the finances of the mo4ue are appropriately managed. Appropriate Disclosure And Barring SeTvi¢e (DBS) checks are completed along with regularly reviewed policies, arc made for all those who work with children or other vulnerable groups wiihin the Mosque. Volunteers have been Ting a pro8ramm¢ for youngsteTS football team for th¢ locals. REFERF.NCE AND ADMINisfRATIVE DETAILS Registered Charity ll¥mber 280459 Prlnclpal ddrtJs 645-647 High Road Seven Kings Essex IG3 8RA Trnstees Mr Faruk Patel Mr Abdul Rahim Patel Mr Zubair Ibrahim Mr Abdul Harnid Valli Mr Saiim tbrahim Audltors Presions & jksOnS Partnership LLP Statutory Auditor5 364- 368 Cranbrook Road Ilford Essex IG2 6HY Page 4
SEVEN KtNGS MUSLIM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUE$, RESPONSIBIIITIES The trustees are responsiTrle for preparing the Report of the Trstee8 &id the financial 8tstements . in accordance with &pplicablc law and United Kingdorn Accounting Standards (United Kingdom GeneIlY Accepted A¢¢ountin8 Pxacti¢e) includiog Finati¢ial ReportiD8 StaDdard 102 "The Financial Reportin8 Standard applicable An th¢ UK and Republic of Ir¢]ond" Charity law requires the tThttes to prepare fin20¢i81 statements for each finencid year. Ufyjer that law. the trustccs have elected to prepare the financial statements accordance with United Kingdom Generally Accepted A¢tIng Prn¢ti¢e (United Kin8dthn Ac¢ountin8 Standuth and applic&ble law). Under charity law the trustees rn1 not approve the financial 8tstcm¢nts unle88 they arc satisfied that they give a trne and fair view ofthe stat¢ of affairs of the ¢l)arity and of the incomin8 resources and application of resour¢¢3. in¢luding the incom¢ and exwditur4 of the chartty for that period In preparing thos¢ fjnancial $t8lcrncnls, the trustees required to select suitsble accounting wlicies atsj then apply them consistcntly, ob8¢rv¢ th¢ m¢ttrLod$ and principles in the Charities SORP; makc jud8ements and eslimates that are re88onable andprndent; Prepare th¢ financial $tht¢mcnl$ on the going concern basis uol¢y it is inappropriate to presume tlyat the Charity will continue in business. The trust¢¢8 arc wesponsible for kccpin8 proper a¢tIllg records which disclosc with reasonable accuracy at ally time the financial position of the charity and to enablc them to ensure that the financial statements comply with the Clhariti¢s Act 2011 And Th¢ Ch8rity (Accounts and ReiKrts) Regulations 2008. Th¢y are also resrK)nsible for s4f¢guarding the assets of the ¢horiry and heoce for tAking rewnabl¢ stw for th¢ prevention and d¢t¢¢tion of fraud and other irre8ulan'ties. Approved by order of theboard oftrustttson............................................. and $id on its bebalfby: Trustee g mc Page 5
REPORT OF THE INDEPENDENT AUDITORS TO ThE TRUSTEES OF SEVEN KINGS MUSLIM EDUCATIONAL TRUST Oplnlon We have auditcd the financial statements of Scvj) Kings $71m Educational Tt (th¢ '¢haT1 for the year elldcd 31 March 2025 which comprise the Statement of Financial Activities. the Statement of Financial Position and nos to the financiol stAterneDlS. in¢luditig a ol sigmificant accounting tKilicies. The finon¢iAI reponkn8 framework that hLs been awlie41 ID their preparation is applicable law and UDitcd Kingdom Arxountin8 Standards (Unitrd Kingdom G¢n¢rnlly Accepted ACUntIng Prn¢ti¢¢), including Financial Reportin8 Standard 102 Tr Fitiaticial Remn8 Standard applicablc in th¢ UK and R¢public of ]reland'. In our opinion the fiDallciAI ststemenis: give a tTue and fair view of the state of th¢ charitys affaiTS as at 31 March 2025 and of Ats incorning resources and applicAtion of reSOue$, for tbe yw th¢n ¢nd¢d: bave been properly prcpar¢d ID accordance with United Kitigdom G¢nernlly Accepted A¢counting PrRctice, includin8 Fiti8ncial Reporting Stsnd8rd 102 Tr Financial Reporti'ng Standard appli¢able in the UK and Republic of Ireland and hav¢ been prepared in accordance with th¢ T¢quirements of the Clwities Ad 2011. Bil• for oplnlon We colUCied our audit in accordonce WAth IrLternalional SthTMlar& on Auditin8 (UK) (ISAS (UK)) and applicable law. Our reswnsibilities undeT those sr8ndards are furthu described in the Auditors, responsibilities for the audit of th¢ rm1]8] st&tem¢nts $tion of our reporL We are independ¢nt of the charity ID accordance with the etbical TeqUiTemcnts ar¢ relevanl to our audit of thc financial statemetsts in the UK, includin8 the FRC¥ Eihical StBndard and we hive fulfilled our othu ethi¢al responsibilities in accordance with these requiremeots. We beli that the audil idenc< we have obtsined is suffi¢icnl and appropriat¢ to provide d basis for our opitiion. Conclu$lonJ rel•thig to golni ¢on¢e In auditing the fmallcial sut¢m¢nts. we havc ccmcludcd that the tntsttes, Uae of the goin8 COllCCrn bJsi5 of accounting in the prepa10 of the fuwieial statements 18 4pwopriate. Based on the work we bave wfonThe4 we have not identified ally materiAI wKertaitities relatin8 10 events or onditions thac individually or collectively. May cast Si8nificalli doubt i)n the th8rity$ ability to continue As a going concern for a period of a¢ lea twelve nwths from wheo the financial staternents are authorised for issue. Our responsibiltties and the reswnsiljilities of the trustees with res to 8oin8 concern are de8cned in the relevmt sections of this rep) Other InfornJAtIoD The trustees are responsible for tbe other iDfonnation. The other infoTmition ¢ompTiSe5 thc infornwtion included in the Allllu Rep( other than the fiDwKial statenwnts and our R4X)rt of the Ind¢p¢Dd¢Dt Our opinion on the fiDan¢1 5tste]Jw (thxs not cover the other infornwtion an ¢x¢¢pt to the extent otherwise explicitly stated in our repoti we do not express any forni of assurnllce conclusion thereon. In connection with our audit of the financial maternts, our rcsponsibiliry is to read the other Anforniation an4 ill doing so. consider whether the other information is materially iticonsistent with the fala1 siatements or our knowledge obtsined in the audit or othcnvis¢ appeaTS io b¢ miteriAlly rnisstated. If we identify such mateTia] inconsistencies or apparent material misstst¢ment4 we are required to deterniine whether this gives rise to a njaterial misstatenxnt in the fU1claI stattl5 thellLselves. If, bAsed on the workwe have performe w¢ cou¢lud¢ that ther¢ is a n[la1 misStat¢m¢Lt of this 4)ther infornwtion, we are required to report that fact. We bave nothing to rep in this regArd Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SEVEN KINGS MUSLIM EDUCATIONAL TRUST Ma¢¢ers on wbicb we are required to report by exteption We have nothing to report in respect of the following mallers vAw¢ the Charities (Accounts atxl Rep)rts) Regulations 2008 requires US to report to you if. in our opinii)D: th¢ infomation given in the RepoTI of the TTUStres is inconsient in any material respect with the financial statements. or sufficient accounting records have not been kept: or the financial statements are not in agreemenl with the accouniing records and returns. or we hav¢ not re¢¢ived all the inforniation and explanations we r¢quir¢ for ow audi(. R¢spon$ibilitieJ of trustees As explained more fully in the Statement of Trustees, Reswnsibilitie& the Irustees are responsible for th¢ PTepardtion of the financial statements which give a true and fair view, and foT such internal control as ihe trustees detemine is necessary to enable the PTeparntion of fin8n¢ial swements are free from material misststem¢nt. wkn¢th¢r du¢ to fraud or error. In preparing the financial statements. the trusiees are responsible for assessing the charitys ability to continue a going concern. disclosin& &$ applicable. matters related to Boing concern and using the going concem basis of accounting unless the tntstees either intend to liquida* the charity or to cease operations, or have no realistic ahematsv¢ to do so. Page 7
REPORT OF THE INDEPENDENT AUDoRs TO THE TRUSTEES OF SEVEN KLNGS MLSLIM EDUCATIONAL TRUST Our respopslblliti¢s for tbe audit of the Ihb#nd*l statements We have been appointed a5 audiiors under Section 144 of the Charities Act 2011 ond report in accordance with the Act and relevanl r¢gulatiODS made or having effect thereut)der. Our objectives are to obtsin re&wnable assurante about whether the financial statements &s a whole are free from materia] misstatemen¢ whether du¢ to fraud or error. and to issue a Reprt of the Independeni Auditors thal includes our opinion. Reasonoble uranCe is a high level of sUrance. bui is nol a guarantee that an audii c4)nducted in accordance with ISAS (UK) will always detect a material misstsiement wh¢n il exists. Misstatements Can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected io infiu¢n¢e the ttonomic decisions of users tsken on the basis of these financial slatements. The extent to which ow procedures are ¢apable of detecting irregularitie& includin8 fraud is detsiled below.. Irregularities, including fraud. are instances of DOnoMPlI8ncc with laws and Su1#t10ns. We identified and assessed the risks of material misststement of the financial sratem¢nts from irregularities whether due to fraud or error, and discussed these between our I11t ieam members. We then designed and p¢rfornied audit procedures responsive lo thos¢ risks, including obtaining audit evide¢ sufficient and appropriate lo provide a b1$ for our opinion. We obtained an understanding of the legal and regulatory fratD¢work within which the Charlble company operates. focusing on those laws and regulations thai have a dire¢1 effect on the determination of material amounts and disc105UTes in the financial statements. The laws and regulations we considered in this contexi were the Charities SOPP (FRS102). We assessed the required Compliance with these laws and regulations as part of our audit prcKedures on the related financial ststement i(¢ms. In additio w¢ ¢on5idered provisions of other ljws aThl regulations that do noi have a dire¢t effect on the rinancial statements but wmplian¢e wilh which might be fundamental lo the charitable ITUSt'S E4bility to operate or to avoid material penalty. We also ¢onsid¢T¢d the opportunities and incentives thal may cxisl within the charitsble In1 for fraud. The18ws and regulations we ¢onsider¢d w¢re DBS checks, employment legislations, taxation legislations and anti-fraud bribery and TrUPtIon legislation and landlord and Tenan¢y legislations,. Auditing standards limit the required audil procedures to identify non-compliance with these laws and regulalions to enquiry of the Tntstees al other manag¢ment and inspectlOD of regulatory and le correspondence, if any. We identified the eles1 risk of material irnpact on the financial ststem¢nts from irregularitie$, including fraud, to be within the timing of recognition of income and the override of contro15 by manag¢m¢nt. Our audit procedures lo respond to these risks included enquiries of management, internal audil and the Tntstees about their own identification and assessment of the risks and irregularilies, sample tesling on the posting of jowmal& reviewing a¢counting estimates for biases, reviewing Tegulatory correspondence with Charity Commission. revi¢w of donor audii reports. and re4ding of minutas of meetin85 of those Chorged wilh governance. Page 8
REPORT OF THE INDEPENDE AUDTTORS TO THE TRUSTEES OF SEVEN KINGS MUSLIM EDUCATIONAL TRUST ing to inherent limitations of an audii. there is an unavoidable risk that we may not have detected some material mi$statem¢nts in th¢ fts)xnci sthtem¢nts. ¢ven though we have properly planned and perforn)ed our audii in accordance with auditing standards. For example, the further removed noDpcompliance with laws and regulations {irregularities) is from the events and transactions reflected in the fiJ)ancial statemenTs, the less likely the inherently limited procedures required by auditing standards would identify it. In additio &$ with any audit. there remained a higher risk of non detection of iTregularitie5, as these may involve ¢ollusion. forgery. intentional omission& misrepres¢ntslions. or the override of internal ¢ontrols. We 8T¢ not responsible for preventing noJFcompliance and ¢annot be expectrd to detect noTFom)plian¢e with all laws and regulations. A further des¢riplion of our responsibililies for the audil of the financial statements 15 located on the Financial Reporting Council's website at wwiv.frc.or8.uklauditorsresponsibililies. Thi5 description fonns part of our Report of the Independent AudilOTS. Use of our r¢port This report is made solely to the charitys trustees. as a body. in attordance with Part 4 of the Charilies (Accounts and Reports) R¢gulation$ 2008. Our audit work has been undertaken so that we might stste to the charity's trustees those matteTS we are required to state to them in an auditOT5' Teport and for no L)th¢r purpose. To the fullest extenl perniitted by law. we do nol a¢¢epl or assum¢ responsibility to onyon¢ other than the charity and the charity's trustees as a body, for ow audil worl for this repo¢ or foT the opinipns we have forn)ed. A PAQL w)1£) , Bpff. Preston$ & Jacksons Parthership LLP Ststulory Auditors 364- 368 Cmbrook Road Ilford Essex IG2 6HY Date.. Page 9
SEVEN KINGS MUSLIM EDUCATIONAL TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2025 31J.25 31.3.24 UDre$tried Total fund funds Notes INCOME FROM Donations 213862 174,446 Inv¢$tment income 172300 163.076 Totsl 386.062 337.522 EXPENDITURE ON Raising funds 4,318 Cbirlt*ble A¢¢fvitl¢s Support cost 106J44 94,623 Total 112,932 98.941 NET INCOME 273,130 238,581 RECONCIL]ATION OF FUNDS TotAI fuTrJs brought forward 3.997.682 3,759,101 TOTAL VUNDS CARIUED FORWARD 4270,812 3.997.682 The notes fonn part of these financial statements Page 10
SEVEN KINGS MUSLIM EDUCATIONAL TRUST STATEMENf OF FINANCIAL POSITION 31 MARCH 2025 31J25 31.3.24 Unrestrlcted Totsl fund FIXED ASSETS Tangible asseis Jnvestment propttty IJH&477 2.25&oIVJ 974,807 2255,000 3J03N77 3229,807 Debtors Cash at bank and ID hand io 31253 1.001,425 5,613 825.491 1,032,678 831,104 CREDoRs Amounts fallin8 due within one ycar li {65J43) (63,229) NET CURRENT ASSETS 967J35 767,875 TOTAL ASSETS iISS CURRENT LIABJUTILS 4270812 3.997,682 NET ASSETS 4,270.812 3,997,682 FUNDS Unrestricted fiuMIs 12 4.270.812 3,997,682 TOTAL FUNDS 4,270,812 3,997,682 The finan¢i41 sta t8 were wroved by the Board of Ttee$ and authorised for issue oa . and were signed on its trthalf by.. _o Tntse° ffirukTh Th¢ notes forn) part of thcsc fmancial stalemcnts Pagcll
SEVEN KINGS MUSLIM EDUCATIONAL TRUST NOTES TO THE FINANCIAL sTATEms FOR THE YEAR EIWED 31 MARCH 2025 ACCOUNTING POLICIFS Bsls of prtprltsg the flttncl#l setemtttts and MeMmeM¢ of golg ¢on¢ern The accounts (fll)aKial Statrments) have t*en prepared in accordae with the Statement of Recommended Practice: Accounting 8nd Reporting by Ch8riiies PTep8ring their accounts in ac¢ordan¢e with the Financial Rel]ng Stsndard appli¢abl¢ in th¢ UK and R¢publi¢ of Ireland ffRS 102) i33ued on 16 July 2014 and the Financ1 ReF78 staard applicable in ihe United Kingdom and Republi¢ of Ireland (FRS 102) and the Chorities Act 2011 and UK Generally Accepted Practic¢ as it applie$ from l January 2015. The accounts (financial statements) have been prepared give a and view gmd hAve departed from the Charities (Accounts and Rerts) Regulations 2(K)8 only io the extent required to provide a true and fair view. Thi3 departure h85 involved following Accounting and Reporting by Charities preparing their aOUnts in ardance with the Finan¢ial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) issued on 16 July 2014 her than the Accounting and Repoffing by Charities: Sthtement of Recommended Practirx eff¢¢tiv¢ from l April 2005 which has since been withdraw The trustees consider thal there are no material uncttieS about the Tru'S ability to continue ag A going concern. ID¢ome All in¢om¢ is r¢wgnised in th¢ Ststement of Fina1&1 A¢tivities once the Chllrity has entidement lo the fimd& li 1$ probable that income will be received and be measwed reliably. T>)n&tiom ere reco8nised when the charity receives them. Investment income is 1$¢d on receivable basi& Expendlture Liabtlities are recognised expenditure as soon &% there is a le8al or constructive obligation committing the clwity to expenditure. it is probable a transfer of economic ben¢fJts will be required in settlement and the on)ount of th¢ obligAtion can be me&suT¢d reliably. Expenditure is ccounted foT on an accrua15 ba313 and has been cla55ified der heading3 that awe8al¢ all cost related to th¢ category. WThere costs cannol be directly atributed to particular headings th¢y have been allocated to activities on a basis wnsistent with the use of res0W5. TAD%lble fixed Tangible fixed &ssels are stated at historical cost less accumulated depreciation and any accumulated impairnient losses. His1ori1 ¢091 includes eXnd]lure that 1$ dire¢tly attributable to bringing the a55el to the localion aTMI condition necessary for it to be capable of operatii)g in the manner intended by manogemenl. Deprcciaiion 15 charged so as to allate the cost of 855ets less their residual value over their estimated useful lives. wing either a straigbt line or reducing balance metho4 &$ indicated below. Depr¢ciation is provided on the following b15.. Fre¢hold Building- 1% Straigbt Line Fixturc5 and fiItiDgs ar¢ ststed at W5t and at 15% on Straight Lirn Method. Page 12 continued...
SEVEN KINGS MUSLIM EDUCATIONAL TRUST NOTLS TO THE FINANCIAL STATEMENfs- ¢ontinued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- ¢ontlnued T•nglble 11A assets assets, r¢$idual values. useful lives and depre¢iation methods are reviewe4 and adjusted PTospectivety if appropriate. or if there 1$ an indication of a significant change since the last reporting Gains al losses on disp05a15 aTe deterniined by comparing the proceeds with the carying amount and aT¢ rKognis in profit or loss. lllvtstment property Investment property is shown fair value. Any aweygte surplus or deficit aTising from ¢hang¢s in fair vut is traferred to the SOFA. Rebt¢d prty The charity discloses related party tranwtions in ik notes lo the financial statements. T•u¢loD The charity is exempt from tsx on its charitable activitie8. Fund *¢¢ountloi Unrestricted funds ¢an be used in xcordance with the charitsble objectives al the discr¢tion of the trustees. Restricted funds can only be used for pJrti¢ular restricted purposes within the objects of the chariry. R¢stri¢lions arise when specified by ihe donor or when funds are raised for particular reslri¢led Further explanalion of th¢ nature and purpose of each fund is included in the notes to the financial staiements. Ikbtorl Basi¢ finuncial assets. including trade other debtors. are initially r¢cognis¢d at transaction price, unless the arrangement constitu¢es a finan¢in8 tran¢tion, where the translI0n is me&sur¢d at th¢ present value of the fuNre receipts discounled at a mark¢t rate of inleresL Such asseis are $ubxquently Carried amorti5ed CO using the effe£tive interest method, less any impairnient Credliors Basi¢ fin¥n¢ial liabilities, including tTade and other creditors. loans from third parties and loans from related parties, a initially recogni5ed at transaction price. unless the arrangement constitut¢s a finan¢ing transactioo where the debt instrument is rnured at the prent value of the future payments dis¢ounied a markd rnte of interesL Such instruments are subsequently c4rried al amortised cost Sing the effective interest method. less any tmpairment. Key Management Persollnel Key Matgement personnel of the charity are the Board of TnLStee5. Page 13 C4)ntinued...
SEVEN KtNGS MUSLIM EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMEiYfs- CODtinuwl FOR THE YEAR ENDED 31 MARCH 2025 LYVESTMENT INCOME 31.3.25 31.3.24 Rents receivable 17UOO 163,076 RAtSlNG FUNDS Invtment mgnagement togts 31.3.25 31.3.24 Propety repaiTS & Agent fees 6,588 4,318 AUDITORS, REMUNERATION 31J.23 31.3.24 Fees payable to the clwity's auditors for the audit of the ¢haTity's financial statements Auditors, r¢muneration for non audil work 1900 220(1 1,800 2,294 TRUSTEES, REMUNERATION AND BENEFITS Th¢ Irust con5idets lis key mJna8em¢nt personal compromise of the Inte$. There were no trusiees, remun¢rAtion or other benefits for the yw ended 31 March 2024 nor for the year ended 31 March 2023. Tru•¢e¢$' eipemst Th¢r¢ were no trtees, expenses p8id for the year ended 31 MaT¢h 2025 r for the year ended 31 MaTch 2024. STAFF COSTS 31.3.25 31.3.24 Wages and salari¢ 14J52 25.709 14352 25.709 The averdge monthly number of cmployces during the yeAT wa5 &8 follows.. 31J.25 31.3.24 Charitable A¢tivitics No employees received emolumenls in excess of £60,000. Pagc 14 continucd...
SEVEN KINGS MUSLIM EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEM OF FINANCIAL ACTIVITIES 31J2024 Unrcstricte fund INCOME FROM Donations 174,446 Investment income 163.076 Total 337.522 EXPENDITURE ON Raising funds 4.318 Charitsbl¢ •rtivltles Support cost 94,623 Totsl 98.941 NET INCOME 238.581 RECONCILIATION OF FUNDS Totol funds brought forward 3,759.101 TOTAL FUNDS CARRIED FORWARD 3.997.682 Page 15 continued...
SEVEN KINGS MUSLIM EDUCATIONAL TRUST NOTES TO THE FINAI¥CIAL STATEMENTS- contiDued FOR THE YEAR ENDED 31 MARCH 2025 TANGIBLE FIXED ASSETS Fixtures Freehold pn)perty fittings Totals COST At l April 2024 Additions 1,040,000 85,197 10,524 94 1.050,524 85291 At 31 March 2025 1,125,197 10.618 1,135,815 DEPRECIATION At l April 2024 Charge for year 71,655 10,652 4,062 969 75,717 11.621 Al 31 March 2025 82J07 5,031 87J38 NET BOOK VALUE Ai 31 March 2025 1,042090 5.587 J,04&477 At 31 March 2024 968.345 6,462 974,807 INVESTMENT PROPERTY FAIR VALUE Ai l April 2024 and 31 March 2025 2355,01)0 NET BOOK VALUE At 31 March 2025 2355,000 At 31 March 2024 2,255,000 The inveytments properties were rmlu¢d by the Intee$ at fair valu¢. Page 16 ci)ntinued..
SEVEN KINGS MUSLIM EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS . ¢ontinued FOR THE YEAR ENDED 31 MARCH 2025 10. DEBTORS: AMouNfs FALLING DUE WTfHIN ONE YEAR 31.3.25 31.3.24 Trade debtors Other debiors Prepayments 24,730 2208 4JlS 1,868 3,745 31253 5,613 11. CRED]TORS: AMouNfs FALLING DUE w]N ONE YEAR 31J.25 31.3.24 Trad¢ credilors Tgxation and social security Other Creditors 4,000 1243 60,100 1.280 61.949 65J43 63.229 12. MOVEMENT IN FUNDS N¢t movement in funds At 3113125 At 114124 Unrtjtrlcttd General fund 3,997,682 273,130 4270,812 TOTAL FVIYDS 3W7.682 273.130 4370.812 Net movement in funds. included in the above are 8$ follows: Incoming Resources Movement resour5 exnded in funds UDrestrieted fvnds General fund 386,062 {112.932) 273,130 TOTAL FtINDS 86.062 (112,932} 273,130 Page 17 continued...
SEVEN KINGS MUSLIM EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 12. MOVEMENf IN FUNDS- conlinncd ComprativeJ for Jnovtm¢Dt in funds Net movement in fidS At 3113124 At 114123 Unrejtrieted fin General fund 3,759,101 238.581 3.997,682 TOTAL FUNDS 3,759.101 238.581 3,997,682 Comparative net mevement in fund4 included in the ab)ve are as follows: Incoming Resources Movement resourc¢s expended in funds Unr¢J¢rlcted fund# GeneTal fund 337,522 (98.941) 238,581 TOTAL FUNDS 337,522 (98,941) 238.581 13. RELATED PARTY DISCLOSURES One of the trustee Mr. H. Valli is conn¢¢t¢d to the trtate agent who manage one of the property. During the year £4.473 (2024: £4.318) was paid &8 commi$sion.This was an arn len8th a8reem¢nt. 14. KARZE HASNE LOAN Included in other creditors is £56.000 (2024: £56.000) Kar7£ Hasne Loan. These are interest free loans from the community which are repaybale on demand Pa8e 18
SEVEIY KtNGS MUSLIM EDUCATIONAL TRUST DETAILED STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR ElED 31 MARCH 2025 31.3.25 31.3.24 INCOME Dongtions Donations 213362 174.446 Invejstment IDCOlll¢ Rents rec¢ivable 172200 163.076 Total lllcomlng r¢50ur¢es 386,062 337.522 EXPENDITiIRE InvestmeDt mana¥emeDt Costs Property repairs & Agent fees 6,588 4.318 Charltsble aetlvltles Wa8¢S Freehold proixrty 14J52 J1ffi22 25,709 10.941 25974 36,650 Support ¢oJts Dagement R4ie5 and water Insurance Light and heat Telephone Cleaning Equipment expenses General Repairs Lecture Costs 7,748 877 23,923 2,605 7,774 6,122 12.057 2.319 320 5.320 11.744 8.223 7,722 24668 73,543 53,879 FlnD¢¢ Bank ¢har8¢9 2.727 GovernaDce costs Auditors, remunerion Auditors, remuneration for n(m audit Work 1.8(Ki 2.294 22110 100 4.094 This pagc doe5 not form part ofthe Statutory financial statements Page 19
SEVEN KINGS MUSLIM EDUCATIOIYAL TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 Total resources expended 112932 98,941 Net imtomt 273,130 238,581 This pag¢ does Dot forn] part of the statutory financial statements Pagc 20