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2023-12-31-accounts

Charity registration number: 289194

Khaniqah-I-Nimatullahi

Annual Report and Financial Statements for the Year Ended 31 December 2023

Khaniqah-I-Nimatullahi

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
Balance Sheet 9
Notes to the Financial Statements 10 to 17

Khaniqah-I-Nimatullahi

Reference and Administrative Details

Trustees Dr A Nurbakhsh Mrs Y Zellipour Mr Seyed Javad Zokai Mr H Nourbakhsh Ms Jennifer O'Riley Mr Peter Kenneth Lawson Charity Registration Number 289194 Principal Office 41 Chepstow Place London W2 4TS Independent Examiner Jonathan Russell F.C.A. Just Audit & Assurance Ltd 4 South Bar Street Banbury Oxfordshire OX16 9AA Bankers Lloyds Bank PLC 12 High Street Banbury Oxfordshire OX16 5EF

Page 1

Khaniqah-I-Nimatullahi

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.

Objectives and activities

Objects and aims

The principal objectives of the charity are to promote the spiritual teaching of Sufism, including the establishment of ' Khaniqahs' (Sufi houses) to provide the means to communicate the principles and teachings of Sufism. The charity also provides charitable relief and well-being to those members of the public experiencing hardship in their lives.

Public benefit

The Charity's establishment and learning methods are open to all who wish to study the principles and teaching of Sufism.

Page 2

Khaniqah-I-Nimatullahi

Trustees' Report (continued)

Secretary's Summary Report

1-As the Covid pandemic continued beyond Dec.2022 the Centres both in UK and worldwide remained closed till end of March 2023 during which time, Trust tried to maintain contact with its members coordinated both internationally and through each centre worldwide by online meditation speech and music continue to be broadcasted and shared amongst all centres twice weekly.

2-As the spread of the Covid pandemic eased in first quarter of the 2023, from Sunday 2nd of April 2023, by the instructions of the Dr Nurbakhsh, Master of the Nimatullahi Sufi Order, Centres reopened subject to adhering to certain guidelines and safety measures such as avoiding close contact such (handshake, …) staying away if felt ill, using hand sanitizers upon entering the centre, etc.

3-From April 2023, the online meditation speech and music continue to be broadcasted and shared amongst all centres twice weekly for meditation gatherings at the centres and for those individual members who for any reasons are not able to attend their respective Centres’ meditation gatherings.

4-After resignation of previous Treasurer and Secretary of the Association in 2022, the process of hand over of the accounts immediately started and is still in progress. It is expected that by end of August or early September 2023, the 2022 accounts will be finalised and new appointed officers will have clear basis of accounts moving forward from 1st of January 2023.

5-Even though the Centres have re-opened since April 2023, for reasons of health and safety of the participating members, it was decided not to hold the June 2023 annual event.

6-The Charity has continued receiving donations and it is not expected that the limited visits of members will have long term effect on Charity’s finances.

7-The UK Trust acts as the centre for all other related sister charities in Africa, Americas and Europe and the President has continued to be directly involved in overlooking the operational affairs of all the sister charities, including the running of the charitable Health centre in Abidjan, Ivory Coast.

8-It is expected, if the ease of Covid19 pandemic continues, occasional conferences and events resume.

9-With reference to the Trustees special meeting of 9th of November 2022, a grant to build retreat cottages at The Old Windmill Centre was received in 2022 and an application for building the retreat cottages has been submitted to the Council and the permit is expected to be received soon. In the meantime, initial ground preparations have started, and it is expected to build the first 2 cottages by end of 2023.

10-Green Energy:

a-Solar energy: based on FIT meter readings, during the period of 01/01/2019 to 12/06/2023 total of 102,942 KWH electricity was generated by the solar panels installed at The Old Windmill Centre (consumed or fed into grid). Meaning, less consumption of non-renewable fossil fuel or nuclear based electric power. In addition to positive climate effects, it has reduced cost of electricity purchased from the grid too.

b-Ground Heat Source: Prior to installation of ground pumps to generate heat for air heating/hot water at The Old Windmill Centre in 2014/15, large amounts of non-renewable various types of fossil fuel were consumed for air and water heating at that Centre. Since then, the consumption of such fuels has reduced to nearly nil in comparison to prior years, which has been another step towards saving the climate.

11-Organic farming: by initiatives of Dr Nurbakhsh, President of Association, in order to produce healthy and safe organic vegetations such as herbs, potato, tomatoes, onions, various beans, etc., plans are in place and partly started to extend the Organic Orchard to addition of Organic Farming. This will be a further attempt to save the environment by not using toxic chemicals.

Page 3

Khaniqah-I-Nimatullahi

Trustees' Report (continued)

Visiting Sister Charities/Centres worldwide

Since start of the pandemic in 2020, Dr Nurbakhsh has not been able to visit the sister charities worldwide. There are plans in place to resume such visits later this year.

Proposals by Dr A. Nurbakhsh, President

a-Sponsorship of Khaniqahi Nimatullahi Sufi member(s) who reside in Ukraine who are affected by the war, to reside in UK in line with the terms and regulations of the relative UK immigration law. His proposal was approved, and the Trustees agreed to him making all relative decisions and taking actions as necessary by law. b-It is expected that more members from centres in UK and across the world to visit the Centre at The Old Windmill, for meditation and voluntary work in the Orchard. Hence for their health and safety purposes and ease of medical assistance, if required, plans are under consideration to employ a resident nurse (from eligible members in UK or abroad) to reside at the centre and practice in line with NHS regulations.

Charity Work

The Trust, as of yet, has been unable to coordinate any work in community efforts due to the restrictions previously imposed due to Covid19, as well as members reluctance to participate in any group work for the same reasons. However, due to ease of the pandemic, plans are in place to resume Serving the Needy by Centres in UK. Also sister centres across the world are instructed/encouraged by the Master, Dr Nurbakhsh to resume or expand their community charity works.

Review of the publications

Both the English and Persian magazines are now offered in the digital format online. The Persian magazine is offered free of charge, while the English magazine is offered under subscription. Both magazines are compiled through volunteers. Few copies of each issue of Farsi version is also printed for those who have difficulties with the digital format.

More efforts have been made in online acclivities in social media (Facebook, Instagram, WhatsApp group, …) as well as constant review of the main web site for the organisation and that of the Sufi magazine. Sufi Music, Poetry readings and Podcasts continue to be part of the Sufi magazine web site. All these attempts have been made to try and reach more people using the platforms that the majority of members and others are currently engaged in.

Review of the loans and loan repayments

All centres which have an outstanding loan with the UK charity are paying off their loans on a regular basis, except for Austria, Benin (Porto Novo and Parako) and the Russian centres. Paris has resumed repayment of its loan and Abidjan, Burkina Fasso and Geneva have each made at least one repayment.

Review the status of officers working for the association

All Trustees continue to provide their services voluntarily and free of charge.

Dr Alireza Nurbakhsh as Master of the order, a full member, Trustee and President of the association in June this year retired as a solicitor and since then has devoted his entire time for charity works on a full-time voluntary basis and has overall management responsibilities for the UK charity as well as all other related sister charities overseas. He has a direct influence over the continuous relationship between centres throughout the world. He is also engaged in writing articles for the Sufi magazine in both English and Farsi language and recorded voice guidance to the members which are part of twice a week online meditation broadcasts.

Javad Zokai, the Secretary of the Association, in addition to his duties as secretary and involvement in accounts handover, assists in the management of the London centre and will assist in coordination of the voluntary work in the community initiatives by the London members which is planned to resume later this year.

Page 4

Khaniqah-I-Nimatullahi

Trustees' Report (continued)

Other Trustees and Class A members have been and will be available to give their assistance as may be needed on a voluntary basis.

Financial review

Policy on reserves

The Trustees consider that they have adequate reserves to maintain the operation of the Charity for the forseeable future.

Structure, governance and management

Major risks and management of those risks

The trustees have assessed the major risks to which the charity is exposed, in particluar those related to the operations and finace, and are satisfied that internal control systems are adequate and procedures are in place to mitigate any exposure to the major risks.

The annual report was approved by the trustees of the charity on 21 October 2024 and signed on its behalf by:

......................................... Dr A Nurbakhsh Trustee

......................................... Mr Seyed Javad Zokai Trustee

Page 5

Khaniqah-I-Nimatullahi

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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 21 October 2024 and signed on its behalf by:

......................................... Dr A Nurbakhsh Trustee

......................................... Mr Seyed Javad Zokai Trustee

Page 6

Khaniqah-I-Nimatullahi

Independent Examiner's Report to the trustees of Khaniqah-I-Nimatullahi

I report to the trustees on my examination of the accounts of Khaniqah-I-Nimatullahi for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of Khaniqah-I-Nimatullahi 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 Khaniqah-I-Nimatullahi'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 Khaniqah-I-Nimatullahi 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.

...................................... Jonathan Russell F.C.A.

Just Audit & Assurance Ltd 4 South Bar Street Banbury Oxfordshire OX16 9AA

22 October 2024

Page 7

Khaniqah-I-Nimatullahi

Statement of Financial Activities for the Year Ended 31 December 2023

Note
Income and Endowments from:
Donations and legacies
2
Other trading activities
3
Investment income
4
Other gains/losses
5
Total Income
5
Expenditure on:
Charitable activities
6
Total Expenditure
Net expenditure
Transfer of retreat cottage into Unrestricted funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
2022
Note
Income and Endowments from:
Donations and legacies
2
Other trading activities
3
Investment income
4
Other gains/losses
5
Total Income
Expenditure on:
Charitable activities
6
Total Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
£
77,540
10,796
57,129
(74,545)
70,920
(204,905)
(204,905)
(133,985)
153,147
19,162
2,583,532
2,602,694
Unrestricted
£
59,106
139,015
63,400
69,726
331,247
(229,363)
(229,363)
101,884
2,481,649
2,583,533		 Restricted
£
271
-
-
-
271
(58,354)
(58,354)
(58,083)
(153,147)
(211,230)
211,280
50
Restricted
£
154,678
-
-
-
154,678
(1,199)
(1,199)
153,479
57,801
211,280		 Total
2023
£
77,811
10,796
57,129
(74,545)
71,191
(263,259)
(263,259)
(192,068)
-
(192,068)
2,794,812
2,602,744
Total
2022
£
213,784
139,015
63,400
69,726
485,925
(230,562)
(230,562)
255,363
2,539,450
2,794,813

The notes on pages 10 to 17 form an integral part of these financial statements. Page 8

Khaniqah-I-Nimatullahi

(Registration number: 289194) Balance Sheet as at 31 December 2023

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
14
Unrestricted income funds
Unrestricted funds
Total funds
14		 2023
£
979,513
1,429,079
281,048
1,710,127
(86,895)
1,623,232
2,602,745
50
2,602,695
2,602,745		 2022
£
798,201
1,592,207
537,714
2,129,921
(133,310)
1,996,611
2,794,812
211,280
2,583,532
2,794,812

The financial statements on pages 8 to 17 were approved by the trustees, and authorised for issue on 21 October 2024 and signed on their behalf by:

.........................................

Dr A Nurbakhsh Trustee

......................................... Mr Seyed Javad Zokai Trustee

The notes on pages 10 to 17 form an integral part of these financial statements. Page 9

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Khaniqah-I-Nimatullahi meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

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.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

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.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

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

Page 10

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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 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:

Asset class Depreciation method and rate Furniture & Equipment 15% reducing balance Land & Buildings 15% Reducing balance/1% Straight line

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 11

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.

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.

Loans/Other debtors

The charity's main purpose is to provide loans to overseas charities to set up centre's promoting the charities aims. These loans are given interest free with veriable terms of repayment. They are disclosed in the accounts at historical value as debtors due from group undertaking less any provision for non payment which the trustees consider prudent.

Foreign currencies

Transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign foreign currencies are translated unto seterling at the closing rates at the balance sheet date and the exchange differences are included in the statement of financial activities.

2 Income from donations and legacies

Donations and legacies;
Legacies
Grants, including capital grants;
Government grants		 Unrestricted
funds
General
£
77,540
-
77,540		 Restricted
funds
£
271
-
271		 Total
2023
£
77,811
-
77,811		 Total
2022
£
59,739
154,045
213,784

3 Income from other trading activities

Page 12

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Trading income;
Publication sales
Orchard sales
4
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Feed in tariff income
Rental income
5
Other gains & losses
Profit/(loss) on foreign currency		 Unrestricted
General
£
2,196
8,600
10,796
Unrestricted
General
£
9
5,420
51,700
57,129
Note		 Total
2023
£
2,196
8,600
10,796
Total
2023
£
9
5,420
51,700
57,129
2023
£
(74,545)		 Total
2022
£
1,633
13,582
15,215
Total
2022
£
1
4,649
58,750
63,400
2022
£
69,726

Page 13

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Other gains & losses arises from currency gains and losses on loans to overseas charities in non sterling currencies.

6 Expenditure on charitable activities

Unrestricted

Costs of publications
Depreciation
Premises costs
Other costs
Donations
Wages and salaries
Governance costs		 General
£
1,194
48,307
49,428
53,370
-
39,574
13,032
204,905		 Restricted
£
-
-
-
-
58,339
-
15
58,354		 Total
2023
£
1,194
48,307
49,428
53,370
58,339
39,574
13,047
263,259		 Total
2022
£
307
40,223
53,183
56,832
-
65,204
14,813
230,562

7 Analysis of governance and support costs

Governance costs

Unrestricted

Unrestricted
Accountancy and independent
examiners fee
Other office expenses
Sundry and other costs		 General
£
6,081
6,842
109
13,032		 Restricted
£
-
-
15
15		 Total
2023
£
6,081
6,842
124
13,047		 Total
2022
£
5,762
9,051
-
14,813

8 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Depreciation of tangible fixed assets 2023
£
48,307		 2022
£
36,424

9 Trustees remuneration and expenses

No trustees received any remuneration during the year.

Page 14

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

10 Taxation

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

11 Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
12 Debtors
Trade debtors
Due from sister charities		 Land and
buildings
£
1,474,179
228,181
1,702,360
685,461
46,600
732,061
970,299
788,718		 Furniture and
equipment
£
87,510
1,438
88,948
78,723
1,533
80,256
8,692
8,787		 Furniture and
equipment
£
87,510
1,438
88,948
78,723
1,533
80,256
8,692
8,787		 Motor vehicles
£
2,200
-
2,200
1,504
174
1,678
522
696
2023
£
2,125
1,426,954
1,429,079		 Motor vehicles
£
2,200
-
2,200
1,504
174
1,678
522
696
2023
£
2,125
1,426,954
1,429,079		 Total
£
1,563,889
229,619
1,793,508
765,688
48,307
813,995
979,513
798,201
2022
£
3,389
1,588,818
88,948 2,200
78,723
1,533		 1,504
174
80,256 1,678
8,692 522
8,787 696
2023
£
2,125
1,426,954
1,429,079
1,592,207

This represents loans made to overseas charities with the same aims across the world. The loans are repayable over various periods.

Loans have been advanced to charities in Abidjan, Benin, Holland, France, Spain, Canada, Sweden, Australia, Austria, Russia, Senegal, Germany, Burkina Faso, Switzerland and the United States of America.

Page 15

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

13 Creditors: amounts falling due within one year

Trade creditors
Other loans
Accruals
14 Funds
Unrestricted funds
General
General
Restricted funds
Serving the Needy
Abidjan Clinic
Retreat cottages
Total restricted funds
Total funds		 Balance at 1
January
2023
£
2,583,533
50
58,083
153,147
211,280
2,794,813		 Incoming
resources
£
70,920
-
271
-
271
71,191		 Resources
expended
£
(204,905)
-
(58,354)
-
(58,354)
(263,259)		 2023
£
2,811
79,541
4,543
86,895
Transfers
£
153,147
-
-
(153,147)
(153,147)
-		 2022
£
-
92,741
40,569
133,310
Balance at
31
December
2023
£
2,602,695
50
-
-
50
2,602,745

15 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
979,513
1,710,077
(86,895)
2,602,695		 Restricted
funds
£
-
50
-
50		 Total funds at
31 December
2023
£
979,513
1,710,127
(86,895)
2,602,745

Page 16

Khaniqah-I-Nimatullahi

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
798,201
1,918,641
(133,312)
2,583,530		 Restricted
funds
£
-
211,280
-
211,280		 Total funds at
31 December
2022
£
798,201
2,129,921
(133,312)
2,794,810

16 Related party transactions

During the year the charity made the following related party transactions:

Trustees

The following balance owed to a trustee was outstanding at the year end; No interest is charged in respect of this balance and there are no fixed terms of repayment.

At the balance sheet date the amount due to Trustees was £79,541 (2022 - £92,741).

Page 17