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2024-12-31-accounts

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

A Registered Charity in the U.K. Number : 287686

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Contents Page
Charity information 3
Report of the managing trustees 4 - 7
Independent auditors' report to the trustees 8 - 12
Statement of financial activities 13
Statement of financial position 14
Cash flow statement 15
Notes to the financial statements 16 - 25

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024

Charity Registration Number

287686

Governing Document

The Constitution

Managing Trustees

President Aliasgar Khimani Vice President Shahbaaz Ali Mahmood Khan Secretary Muhammad Asger Raza Assistant Secretary Hasnain Asharia Treasurer Qasim Alidina Assistant Treasurer Hasan Kermali Mukhi Shabbar Ali Jadawji Assistant Mukhi Sajidali Alidina Trustee Nazia Khan (resigned 22/06/25) Trustee Zahida Asharia Trustee Salma Moledina Trustee Siddika Lalji (resigned 22/06/25) Trustee Rizwana Panjvani (appointed 22/06/25) Trustee Ishrat Master (appointed 22/06/25)

Registered Address

Hyderi Islamic Centre 26 Estreham Road London SW16 5PQ

Bankers

HSBC 117 Balham High Road London SW12 9AS

Auditors

Brian Paul Limited 159a Chase Side Enfield Middlesex EN2 0PW

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

REPORT OF THE MANAGING TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The Managing Trustees have pleasure in presenting their annual report together with the audited financial statements of The Khoja Shia Ithna-Ashri (South London) Jamaat (the Charity) for the year ended 31 December 2024. The Charity operates as Hyderi Islamic Centre (Hyderi).

The Trustees confirm that the annual report and financial statements of Hyderi comply with the current statutory requirements of the Charity's governing document and the provisions of the applicable charities Statement of Recommended Practice (SORP), UK Accounting Standards and the Charities Act 2011.

Structure, governance and management

The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi) is a registered charity (No: 287686). It is governed by the constitution adopted on 2 October 1983. A revised and updated constitution was approved by members on 5 February 2023. The Khoja Shia Ithna-Ashri (South London) Jamaat promotes and advances the Islamic religion in accordance with the principles of the Shia Ithna-Ashri faith. Its objectives and powers are set up in the constitution. It is managed by elected Managing Trustees who are responsible for the day to day running of the Charity.

Public Benefit Statement

The Managing Trustees have considered the general guidance on public benefit issued by the Charities Commission and have taken due regard of that guidance. The Managing Trustees consider that they are satisfied that the charity's activities do provide a public benefit.

Objectives and activities

The Khoja Shia Ithna-Ashri (South London) Jamaat's objective is to advance the religion of Islam and education, the provision of social and religious welfare activities and to provide relief of poverty among Shia Muslims.

a) Propagation of Islam

Propagation of Islam is the main activity of the Charity and this was carried out by arranging regular lectures at the Centre and arranging weekly religious programmes in English and other languages. Madressa classes were also held to teach Quran to students.

b) Educational support

During the year, support was provided to various individuals and children were taught at the Hyderi Islamic school and Hyderi Nursery.

c) Social, religious and welfare activities

During the year, Hyderi organised various activities in celebration of Ramadan, Eid, Hajj and other Islamic festivals for members and new converts who have no affiliation with other Islamic communities. Counselling sessions were provided to those with marriage and family predicaments. Facilities for weddings and funerals are carried out throughout the year.

Achievements and performance

The Charity continues to provide prayer facilities at the Centre to promote the Muslim faith to all age groups and to provide services to learn the teachings of the Quran. The Charity offers facilities to

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members to promote the Muslim way of life through guest speakers. The Charity continues to offer membership and burial facilities and receive income from its rental properties. The Nursery and Islamic schools for the children have been a successful furtherance of offering Islamic teaching. These achievements would not have been possible without the commitment and dedication of volunteers.

Objectives and Investment Powers

In order to meet the objectives, the Managing Trustees can secure the provision of Mosques and Imambaras (centres), provide and establish schools and education and provide other religious services. The Managing Trustees can raise funds for the upkeep, restoration and repair of the buildings used for this purpose and to provide other services to meet these objectives. Trust funds of over £15,000 can only be invested or utilised on a single project after the approval of the general body.

Appointment of trustees

The existing Managing Trustees were elected on 4 June 2023 replacing the previous Trustees to serve for a term of two years.

Related parties

The Charity does not hold assets on behalf of any another Charity, company or individual.

Results and Financial review

The results for the year are as shown in the financial statements. The statement of financial activities shows the incoming resources, and the resources expended by the different activities conducted under the Charity's name. It also shows how the Charity's funds have been applied during the year. The gross receipts of the Charity were £1,457,361 (2023: £1,385,275). Of this £403,965 were restricted funds and gross expenditure amounted to £1,248,599 (2023: £1,127,285). Gift aid receipt was £74,149 (2023: £70,086). As the Charity's income is dependent upon the goodwill of worshippers, the managing trustees are of the opinion that the level of direct activities should be proportionate to such income. Accordingly, many of the activities during the year were arranged to be self-sufficient with funding raised accordingly at the time.

At 31 December 2024, the balance on the restricted fund was £70,108 (2023: £56,158) and Burial Funds were £345,510 (2023: £280,065).

Fixed Assets

The changes in fixed assets are shown in the notes to the financial statements. During the year the charity purchased a new hearse and also purchased a new cemetery plot, which have both been reflected in the accounts.

Investment Properties

Statement of Recommended Practice, "Accounting and Reporting by Charities" requires investment properties to be included in the financial statements at market value. The Investment properties were valued in January 2021 by an independent professional valuer SW17 Surveyors Limited. The managing trustees are of the opinion that these reflect current market value.

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Key management personnel remuneration

Trustees are required to disclose all relevant interests and register them with the Secretariat, and, in accordance with policy, withdraw from decisions where a conflict of interest arises.

Details of trustee expenses and related party transactions are disclosed in notes 21 and 22 to the accounts.

Risk Management

The Managing Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the operations and finances including fundraising and use of restricted funds. The Managing Trustees are satisfied that systems are in place to mitigate our exposure to these risks and the processes implemented are designed to minimise any potential impact on the Charity should any of these risks materialise.

Reserves Policy

The Managing Trustees have examined the Charity's requirement for reserves and has established a policy whereby the unrestricted funds held by the Charity should continue to be a minimum of 3 months of the unrestricted expenditure of Hyderi only. This equates to approximately £246,196 (2023: £169,880)

Pioneer Place

During 2024 the charity completed the fire safety upgrades and new fencing was placed around the perimeter. The site was partially damaged by flooding during the year for which repairs and renovations works were undertaken to rectify and an insurance claim was made for the works.

Transfer of funds

During the year the trustees called an SGM with the members to approve the transfer of designated funds raised over the years for the purchase of freehold property, investment properties and fixture and fittings. This is mentioned in note 24 of the accounts.

Statement of Trustees' Responsibilities

The Trustees 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).

The law applicable to charities in England & Wales 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:

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The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. 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.

Disclosure of information to auditors

Each of the trustees has confirmed that there is no other information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

Auditors

A resolution will be proposed at the Annual General Meeting that Brian Paul Limited be re-appointed as Auditors of the Charity.

Approved by the Managing Trustees and signed on its behalf by:

Treasurer: Qasim Alidina Date: 10/31/2025

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

Independent Auditor's Report to the Members of The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi Islamic Centre)

Year ended 31 December 2024

Opinion

We have audited the financial statements of the Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi Islamic Centre) (the 'charity') for the year ended 31 December 2024 which comprise the statement of financial activities, 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:

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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

Independent Auditor's Report to the Members of The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi Islamic Centre)

Year ended 31 December 2024

Other information

The other information comprises the information included in the 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, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Charities Act 2011

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

Independent Auditor's Report to the Members of The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi Islamic Centre)

Year ended 31 December 2024

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) 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

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:

The extent to which the audit was considered capable of detecting irregularities including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

Independent Auditor's Report to the Members of The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi Islamic Centre)

Year ended 31 December 2024

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

· Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

· Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

Independent Auditor's Report to the Members of The Khoja Shia Ithna-Ashri (South London) Jamaat (Hyderi Islamic Centre)

Year ended 31 December 2024

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Parvez Dalal (Oct 31, 2025 22:57:35 GMT)

Parvez Dalal ACA, FCCA (Senior Statutory Auditor)

For and on behalf of Brian Paul Limited Chartered Accountants & Statutory Auditors 159a Chase Side Enfield Middlesex EN2 0PW

10/31/2025

……………………….

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Income
Voluntary income
2
Fundrasing income
3
Investment income
4
Charitable activities income
5
Other income
6
Total income
Expenditure
Fundraising costs
Investments management costs
Charitable activities costs
Governance costs
Total expenditure
7
Net income
Transfers between funds
24
Adjustments
Net loss on disposal of vehicle
Net movement in funds
Funds brought forward at the start of the year
Funds carried forward at the end of the year
20		 Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
£
267,374
343,347
610,721
635,597
221,030
60,618
281,648
266,075
140,715
-
140,715
125,783
324,537
-
324,537
304,753
99,740
-
99,740
53,067
1,053,396
403,965
1,457,361
1,385,275
5,832
-
5,832
433
8,758
-
8,758
8,111
931,412
263,817
1,195,229
1,084,326
38,781
-
38,781
34,415
984,783
263,817
1,248,599
1,127,285
68,613
140,149
208,762
257,990
5,456,475
(5,456,475)
-
-
-
-
-
(63,119)
-
-
-
(3,029)
5,525,089
(5,316,327)
208,762
191,842
2,316,275
6,750,263
9,066,538
8,874,696
7,841,364
1,433,936
9,275,300
9,066,538

The notes on pages 16 to 25 form a part of these financial statements

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024

Notes
2024
2024
£
£
Fixed assets
Tangible assets
8
9,106,786
Investments
9
1,880,000
Total fixed assets
10,986,786
Current assets
Stock
10
-
Debtors
11
161,730
Cash at bank and in hand
12
195,175
Total current assets
356,905
Liabilities
Creditors: amounts falling due within one year
13
(652,370)
Net current assets
(295,465)
Total assets less current liabilities
10,691,321
Creditors: amounts falling due after more than one year
14
(1,416,021)
Net assets
20
9,275,300
The funds of the charity
Unrestricted funds
General funds
15
7,841,364
7,841,364
Restricted funds
Designated funds
16
2,631
Burial fund
17
345,510
Revaluation reserve
18
1,015,687
Others
19
70,108
1,433,936
Total charity funds
20
9,275,300		 2023
2023
£
£
9,116,136
1,880,100
10,996,236
-
176,471
181,215
357,686
(489,777)
(132,091)
10,864,145
(1,797,607)
9,066,538
2,316,275
2,316,275
5,398,353
280,065
1,015,687
56,158
6,750,263
9,066,538

The financial statements were approved by the Managing Trustees and signed on their behalf by:

Aliasgar Khimani (Oct 31, 2025 22:55:41 GMT) President: Aliasgar Khimani Date: 10/31/2025

Hon Treasurer: Qasim Alidina 10/31/2025

The notes on pages 16 to 25 form a part of these financial statements

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
2024
2024
Cash flows from operating activities
£
£
Net movements in funds
208,762
Adjustments for:
Investment income
4
(138,570)
Interest income
4
(2,145)
Depreciation of tangible fixed assets
8
35,285
Realised loss on disposal of asset
9
100
(Increase)/Decrease in stock
10
-
(Increase)/Decrease in debtors
11
14,741
(Increase) in creditors
13/14
(239,602)
Net cash inflow from operating activities
(330,191)
Cash flows from investing activities
Investment income
4
138,570
Interest income
4
2,145
Purchase of tangible fixed assets
8
(25,936)
Sale of investment property
9
-
Net cash (outflow)/inflow from investing activities
114,779
Cash flows from financing activities
Bank loan
14
20,609
Net cash inflow from financing activities
20,609
Change in cash and cash equivalents in the year
13,959
Cash and cash equivalents at beginning of the year
181,215
Cash and cash equivalents at end of the year
12
195,175		 2023
2023
£
£
191,842
(123,195)
(2,588)
45,325
3,029
1,411
153,003
581,487
658,471
123,195
2,588
(1,295,979)
-
(1,170,196)
48,338
48,338
(271,545)
452,760
181,215

The notes on pages 16 to 19 form a part of these financial statements

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON) JAMAAT (HYDERI ISLAMIC CENTRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 General information

The Charity is a registered Charity in England and Wales and is unincorporated. The address of the Charity is 26 Estreham Road, London, SW16 5PQ.

1.1 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)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity 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 note(s).

1.2 Accounting Policies

1.2.1 Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling which is the functional currency of the entity.

1.3 Going concern

There are no material uncertainties about the Charity's ability to continue for the foreseeable future. The Trustees are therefore satisfied that the Charity has sufficient reserves to continue as a going concern for the foreseeable future.

1.4 Aggregate Accounts and Related Activities

The consolidated accounts include the results of the financial activities of Hyderi Jamaat, Hyderi Nursery School and Hyderi Islamic School prepared to 31 December each year. A consolidated Statement of Financial Activities, Statement of Financial Position and Cash Flow Statement at the year-end has also been prepared.

1.5 Freehold Land and Properties

The freehold property is valued at historic cost and is not depreciated, as the Mosque and related community buildings have a considerable long useful life. This is a departure from accounting standard but in the opinion of the Trustees presents the buildings at a fairer value relative to recent valuations conducted. Where, refurbishment and maintenance take place such expenditure is charged to the income and expenditure account in the year in which it is incurred. Accordingly, the Trustees consider that the life of the freehold property is such that its depreciation is not significant. Freehold land is not depreciated.

1.6 Leasehold Land

This is an 80-year lease acquired on a plot In Section 2 of Rowan Road Cemetery of 236 reserved graves at £1,100 each at a total cost of £259,600. This is being depreciated at the rate of £1,100 per

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burial that takes place each year. The cost of the land and the related liability has been reflected in the financial statements.

During the year the charity purchased a further plot at Bluebell cemetery of 282 graves at a cost of £4,344 each at a total cost of £1,225,008. This is being depreciated at the rate of £4,344 per burial that takes place each year. The cost of the land and the related liability has been reflected in the financial statements.

1.7 Other Tangible Fixed Assets

Other tangible fixed assets are stated at historical cost or valuation less depreciation. Depreciation is provided on all other tangible fixed assets at rates calculated to write off the cost, less estimated residual values of each asset over its expected useful life as follow

Fixtures and Equipment : 20% per annum by the reducing balance method. Hearse : 25% per annum by the reducing balance method.

1.8 Donated Tangible Assets

Donated tangible assets which can be valued are included in the financial statements at their estimated market value. Donated tangible assets that are impractical to value are not included in the financial statements.

1.9 Stock

Stock consists of coffins and other burial related supplies. These are charged as expenses based on usage. Other stock consists of books and toys. The financial statements do not include any stock of books and toys as these are replaced continuously. All such costs are charged as expenses when incurred.

1.10 Disbursements and Resources Expended

The disbursements of various funds received were made according to the Islamic laws, with the guidance and permission of our Marjah and as per the constitution of the Charity. Support costs are those incurred in connection with governance and administration of the Charity and in compliance with constitutional and statutory requirements.

1.11 Investment Properties

Investment property is included in the Statement of Financial Position at open market value. The value is generally established by reference to independent 3rd party valuations obtained by the Trustees. A full valuation was carried out in January 2021 by SW17 Surveyors Limited. The view of the Executive Committee is that the valuation reflects the current market value.

1.12 Restricted Funds

Restricted funds are funds which have restrictions imposed by the donors. These can only be utilised in accordance with the donors' wishes and are not available for any other use. Restricted funds also include amounts collected as agents.

1.13 Designated Funds

Designated funds are funds which have been set aside or utilised for a specific purpose and are not available for general use.

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1.14 Income

These comprise income which is accounted for in the period in which it is received. Grants and Gift Aid are recognised when receivable and subscriptions for membership are recognised when received. Gift Aid received is treated as unrestricted income and utilised against the support costs of the charity.

All income is included gross and related expenditure is included as expenditure. Investment income is included in the accounts on an accruals basis.

1.15 Deferred Income

Deferred Income is recognised in the period to which it relates.

1.16 Expenditure

Costs of generating funds are those costs incurred in furthering the aim and objects of the charity.

Governance comprises the costs of compliance with constitutional and statutory requirements and costs related to the strategic management of the charity.

Support costs are costs which are common to a number of activities and are charged to activities on the basis of a proportion of the use of the resource to the charitable activity.

In accordance with the Charities SORP (FRS 102), the general volunteer time of members and trustees is not recognised. The Trustees’ annual report includes more information about their contribution.

1.17 Donated Services

No amounts are included in the financial statements for services donated by volunteers because these amounts cannot be quantified with reasonable accuracy.

1.18 Support cost

The number of staff involved in an activity is deemed to be the appropriate basis for allocating support costs as it closely reflects the resources usage of the support functions of the core activities.

1.19 Taxation

As the Charity is not registered for VAT, all costs shown are inclusive of VAT. No provision has been made for corporation or deferred tax as Hyderi is a registered charity and exempt from tax.

1.20 Financial instruments

The Charity has no Financial Instruments.

1.21 Pensions

Employees of the Charity are entitled to join a defined contribution pension scheme. The charity contribution is restricted to the contributions disclosed in note 7b. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within staff costs.

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THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2 Voluntary income
General Funds
Nyaz & Majlises
Ahl-ul-Bayt (A.S)
Gift aid tax income
Pioneer place donations
Jummah donations
Cemetery maintenance
Special activities income
Courses
Burial subscriptions
Religious/relief activities
Announcements
Subscriptions received
3 Fundrasing income
Fundraising income
Ramadhan funding
Muharram funding
Bluebell cemetery
Burial services
Tablets funding
Specific appeals
Special activities
Shop income/canteen
Letting/hire income
4 Investment income
Interest received
Rental income
5 Charitable activities income
Fees received
Grants received
Sales
6 Other income
Insurance claims
Disposal proceeds		 Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
£
75,104
-
75,104
101,224
27,921
-
27,921
15,870
15,102
-
15,102
17,880
74,149
-
74,149
70,086
-
2,631
2,631
11,342
5,111
-
5,111
5,208
873
-
873
107
120
-
120
19,665
9,345
-
9,345
-
-
81,601
81,601
40,740
-
259,115
259,115
286,041
12,795
-
12,795
6,550
46,855
-
46,855
60,884
267,374
343,347
610,721
635,597
14,815
-
14,815
1,228
49,924
-
49,924
54,177
34,128
-
34,128
35,203
-
60,618
60,618
151,999
7,050
-
7,050
2,400
8,064
-
8,064
14,382
92,990
-
92,990
-
2,778
-
2,778
1,967
3,681
-
3,681
270
7,600
-
7,600
4,449
221,030
60,618
281,648
266,075
2,145
-
2,145
2,588
138,570
-
138,570
123,195
140,715
-
140,715
125,783
160,220
-
160,220
156,832
164,317
-
164,317
147,128
-
-
-
793
324,537
-
324,537
304,753
99,740
-
99,740
45,976
-
-
-
7,091
99,740
-
99,740
53,067

19 / 25

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7 Total expenditure
Charitable activities costs
- Religious activities
- Nyaz & Majlises
- Secular education
Fundraising costs
Investments management costs
Governance costs
7a Support costs
Cleaning
Licences
Heat, light & water
Rates
Insurances
Security
Repairs & maintenance
Rep & maint - Pioneer Pl
Rep & maint - Pioneer Pl bung
Cemetery maintenance
Toys/activities
Food
Travel
Telephone/broadband
SMS
Postage
Stationery
Printing/photocopying
Health & Safety
Books
Website
Equipment purchases
Losses and write offs
Sundries
Software license costs
Depreciation
Bank charges
Card charges
Fees paid
Interest paid
7b Staff costs
Salaries and wages
PAYE/Employer NI
Pension contributions
Staff Numbers*
The average monthly number of employees:
Management
Nursery Staff		 Direct
costs
Support
costs
Restricted
Funds
Total
2024
Total
2023
£
£
£
£
£
258,972
498,224
263,817
1,021,012
891,440
38,060
-
-
38,060
53,258
123,844
12,313
136,156
139,627
420,876
510,536
263,817
1,195,229
1,084,326
5,832
-
-
5,832
433
8,758
-
-
8,758
8,111
38,781
-
-
38,781
34,415
474,246
510,536
263,817
1,248,599
1,127,285
2024
2023
£
£
6,486
9,620
35
4,095
60,335
39,589
(6,462)
8,960
16,900
12,412
-
350
16,816
9,170
219,851
144,022
5,310
4,650
3,307
5,831
657
375
1,918
1,370
1,908
792
7,919
5,622
-
-
346
-
1,634
381
92
80
750
1,234
-
1,050
1,869
194
7,744
5,297
850
1
1,712
1,613
7,226
709
35,285
45,324
4,582
3,954
6,100
3,921
-
335
107,365
107,348
510,536
418,299
2024
2023
£
£
171,045
168,942
2,970
4,400
2,577
2,643
176,592
175,985
2024
2023
3
3
11
11
14
14

Staff costs have been allocated to direct charitable expenses on the basis of number of direct staff supported during the year. No employee received remuneration amounting to more than £60,000 in either year

20 / 25

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7c Governance costs
Legal/professional fees
Audit & accountancy costs
Subscriptions paid
8 Tangible fixed assets
Cost or valuation :
As at 1 January 2024
Additions
Disposal
As at 31 December 2024
Depreciation :
As at 1 January 2024
Charge for the year
Add back on disposal
As at 31 December 2024
Net Book Value :
As at 31 December 2024
As at 31 December 2023
9 Fixed asset investments
Fixed asset investments
Disposal
Realised on disposal
Other investments
Hyderi Nursery Ltd
Hyderi Islamic School
Market value at 31 December
10 Stocks
Opening balance
Additions during the year
Used during the year
Closing balance
11 Debtors
Recoverable gift aid
Other Debtors
Prepayments and accrued income		 2024
2023
£
£
29,101
25,411
5,280
5,820
4,400
3,184
38,781
34,415
Assets under
construction
Freehold
Properties
Leasehold
Land
Fixtures &
Equipment
Motor
Vehicles
Total
£
£
£
£
£
£
173,209
7,494,838
1,484,608
453,260
48,466
9,654,381
-
-
-
25,936
-
25,936
-
173,209
7,494,838
1,484,608
479,196
48,466
9,680,317
-
-
139,700
386,429
12,116
538,245
-
-
7,644
18,554
9,088
35,285
-
-
-
-
147,344
404,983
21,204
573,531
173,209
7,494,838
1,337,264
74,213
27,263
9,106,786
173,209
7,494,838
1,344,908
66,831
36,350
9,116,136
2024
2023
£
£
1,880,000
1,880,000
-
-
-
-
1,880,000
1,880,000
-
100
-
-
1,880,000
1,880,100
2024
2023
£
£
-
1,411
-
-
-
(1,411)
-
-
2024
2023
£
£
54,926
53,240
104,704
119,500
2,100
3,731
161,730
176,471

21 / 25

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12 Cash and Bank
Current and deposit accounts
Petty cash
13 Creditors: Amounts falling due
within one year
Taxation and social security
Pension liability
Accrued expenses
Other creditors
Deferred Income
Bank loans
SCI Funerals Limited (Note 14)
14 Creditors : Amounts falling due
after more than one year
SCI Funerals Limited
Balance at 1 January
Payments in the year
Balance at 31 December
Less: Due within one year (Note 13)
SCI Funerals Limited balance
Bank loan
Bluebell cemetery
Other creditors
Balance due after more than one year at 31 December		 2024
2023
£
£
195,175
180,644
-
571
195,175
181,215
2024
2023
£
£
-
-
605
510
11,500
12,220
310,733
388,047
303,423
40,103
20,609
43,397
5,500
5,500
652,370
489,777
2024
2023
£
£
88,400
88,400
(3,300)
-
85,100
88,400
(5,500)
(5,500)
79,600
82,900
1,036,421
1,364,707
300,000
350,000
-
-
1,416,021
1,797,607

22 / 25

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15 General funds
Balances at 1 January 2024
16 Designated fixed asset fund
Balances at 1 January 2024
Pioneer Place donations
Bluebell donations
Adjustments
Transfers
Balance at 31 December 2024
17 Burial fund
Balances at 1 January 2024
Received during the year
Payments for burials of scheme mebers
Transfer for payment to SCI Funerals
18 Revaluation reserve
Investment properties		 Balance
Income
Expenditure
Transfers
Disposal
Adjustment
Balance
01.01.2024
31.12.2024
£
£
£
£
£
2,316,275 1,053,396
(984,783)
5,456,475
-
-
7,841,364
2,316,275 1,053,396
(984,783)
5,456,475
-
-
7,841,364
Freehold
properties
Leasehold
properties
Investment
properties
Fixtures &
Fittings
Total
£
£
£
£
£
5,074,071
-
224,451
99,831
5,398,353
2,631
-
-
-
2,631
-
60,618
-
-
60,618
-
-
-
-
-
(5,074,071)
(60,618)
(224,451)
(99,831)
(5,458,971)
2,631
-
-
-
2,631
2024
2023
£
£
280,065
246,933
81,601
40,740
(12,856)
(7,608)
(3,300)
345,510
280,065
Balance
Balance
01.01.2024
31.12.2023
£
£
1,015,687
1,015,687
1,015,687
1,015,687

23 / 25

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19 Restricted funds - Others
Hyderi - Internal
Ghusal Kafan
Sports - Gents
Sports - Ladies
Workshop
Library
Seniors
Hyderi connect
Hyderi Health
Hearse fund
Quran competition
Al Mujtaba Youth
Funeral Service
Haraka
Volunteers fund
HFC
Ghadeer fund
Ladies activities
Arbaeen walk
Total - Internal
External
Pakistan Relief
Others
Lebanon
Palestine relief
Afghanistan
AAWA
Fidya/Kaffara
Fitra
Khums - Sehme Imam
Khums - Sehme Sadaat
Poor, Widows & Orphans
Radde Mazallim
Welfare Fund/Sadqa
WF Aid
ZCSS
Total - External
Total Others
Burial Fund
Designated fixed asset fund
Total Resticted Funds		 Balance
Balance
01.01.2024
Income
Expenditure
Transfers
31.12.2024
£
£
£
£
13,785
2,681
(42)
-
16,424
126
41,564
(37,136)
-
4,555
(332)
19,326
(18,133)
-
861
2,003
6,613
(4,453)
-
4,162
1,917
40
(138)
-
1,819
2,903
(3,699)
796
-
703
1,830
(1,031)
-
1,503
420
(600)
180
-
1,943
-
-
-
1,943
(3,177)
3,455
(4,905)
4,627
-
488
1,120
(1,801)
193
-
-
-
-
-
-
396
-
-
-
396
340
-
-
-
340
879
-
-
-
879
-
-
-
-
-
3,479
40
(1,493)
-
2,026
8,947
32,644
(27,306)
-
14,285
-
-
-
-
31,499
112,636
(100,738)
5,796
49,191
-
-
-
47
4,000
(4,000)
-
47
-
29,926
(31,650)
1,724
-
5,461
8,391
(13,852)
-
-
125
180
(245)
-
60
-
382
(342)
-
40
2
674
(676)
-
-
-
6,803
(6,803)
-
-
1,375
38,269
(39,619)
-
25
1,375
34,124
(35,474)
-
25
44
2,151
(2,056)
-
139
75
10
(85)
-
-
16,155
18,958
(12,809)
(1,724)
20,581
-
2,370
(2,370)
-
-
-
240
(240)
-
-
24,660
146,479
(150,222)
-
20,917
56,158
259,115
(250,960)
5,796
70,108
280,065
81,601
(12,856)
(3,300)
345,510
5,398,353
63,249
-
(5,458,971)
2,631
5,734,576
403,965
(263,817)
(5,456,475)
418,249

24 / 25

THE KHOJA SHIA ITHNA-ASHRI (SOUTH LONDON ) JAMAAT (HYDERI ISLAMIC CENTRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

20 Analysis of net assets between funds
Fund balances at 31 December 2024
represented by:
Total fixed assets
Net current assets
Fund balances at 31 December 2023
represented by:
Total fixed assets
Net assets		 General
Funds
Restricted
Funds
Total
Funds
£
£
£
7,841,364
1,015,687
8,857,051
-
418,249
418,249
7,841,364
1,433,936
9,275,300
2,316,275
5,398,353
1,015,687
8,730,315
-
-
336,223
336,223
2,316,275
5,398,353
1,351,910
9,066,538

21 Trustees

The trustees received no remuneration for services provided to Hyderi (2023: Nil). No trustees received reimbursement for costs for attending meetings or travelling costs in the year (2023: Nil).

22 Related Party Transactions

Hyderi is a member of a regional council, The Council of European Jamaats (COEJ), which represents Hyderi at the global level through The World Federation of Khoja Shia Ithna-Ashri Muslim Communities. Both these Charities are registered with the Charities Commission in the UK and represent Hyderi when dealing with international aid and relief work.

Most of the external restricted funds collected by Hyderi are channelled through COEJ. During the year, the external restricted funds of £129,789 (2023 - £22,341) were remitted to COEJ.

23 Financial commitments
Payable within:
One year
Between two and five years		 2024
2023
-
15,138
-
-
-
15,138

24 Transfer of funds

During the year, an amount of £5,456,475 was transferred from restricted funds to unrestricted funds. The majority of this transfer (£5,458,971) relates to designated fixed asset funds that have been utilised for the specific purposes for which they were originally collected. The surplus remaining in the designated fixed asset fund has been transferred to general funds.

This transfer was approved by all trustees and members of the charity at a Special General Meeting (SGM) held on 15 December 2024.

25 / 25

2025-10-31

Final Audit Report

Accounts 2024 - final

Created: 2025-10-31 By: Parvez Dalal (parvez@brianpaul.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAK88wVq3SvllAC-hIn9xj4cjp14BWPEuH

"Accounts 2024 - final" History

Document created by Parvez Dalal (parvez@brianpaul.co.uk) 2025-10-31 - 10:23:55 PM GMT

Document emailed to treasurer@hyderi.org.uk for signature

2025-10-31 - 10:24:02 PM GMT

2025-10-31 - 10:25:05 PM GMT

Signer treasurer@hyderi.org.uk entered name at signing as Qasim Alidina 2025-10-31 - 10:26:07 PM GMT

Document e-signed by Qasim Alidina (treasurer@hyderi.org.uk)

Signature Date: 2025-10-31 - 10:26:09 PM GMT - Time Source: server

Document emailed to Parvez Dalal (parvez@brianpaul.co.uk) for signature 2025-10-31 - 10:55:42 PM GMT

Document e-signed by Parvez Dalal (parvez@brianpaul.co.uk) Signature Date: 2025-10-31 - 10:57:35 PM GMT - Time Source: server

Agreement completed.

2025-10-31 - 10:57:35 PM GMT