Charity registration number: 297673
## Fayz-e-Husayni International Trust
Annual Report and Financial Statements
for the Year Ended 31 December 2020
## **Fayz-e-Husayni International Trust**
## **Contents**
|Reference and Administrative Details|1 to 2|
|---|---|
|Trustees' Report|3 to 5|
|Independent Auditors' Report|6 to 8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11 to 19|
## **Fayz-e-Husayni International Trust**
## **Reference and Administrative Details**
|**Trustees**|Shahzada Qaidjoher bhaisaheb Ezzuddin -Chairman|
|---|---|
||Shahzada Taha bhaisaheb Najmuddin -Vice Chairman|
||Dr Idris bhaisaheb Zainuddin - Deceased 11/09/2021|
||Zainulabedeen bhaisaheb Shujaee - Operating Trustee|
||Abbas bhaisaheb Shujaee|
||Shaikh Zoeb bhai Kukshiwala|
||Shaikh Aliasger bhai Kerai -Secretary|
||Shaikh Juzer bhai Maimoon|
||Shaikh Bashir bhai Jariwala|
||Shaikh Mustafa bhai Poonawala -Treasurer|
||Mulla Taher bhai Shaikh Hamza bhai Jivanji|
||Mulla Huzaifa bhai Abbas bhai|
||Aliasger bhai Jamali|
||Mr Shabbir bhai Mama|
||Abdulqadir bhai Rangoonwala|
|**Advisory Council**|Ibnemadyan bhaisaheb Hamiduddin|
||Al-Anwar bhaisaheb bin Shahzada Badruddin Saheb|
||Hatim bhaisaheb bin Aliasger bhaisaheb Shakir|
||Taiyeb bhaisaheb bin Fakhruddin bhaisaheb Aamir|
||Ibrahim bhaisaheb Husaini|
||Farazdaq bhaisaheb Husaini|
||Shaikh Saifuddin bhai Zakir|
|**Principal address**|14 Amatullah Villa|
||Mohammedi Park|
||Rowdell Road|
||Northolt, Middlesex|
||UB5 6AG|
|**Charity Registration Number**|297673|
|**Solicitors**|B D B Pitmans LLP|
||50 Broadway|
||London|
||SW1H 0BL|
Page 1
## **Fayz-e-Husayni International Trust**
## **Reference and Administrative Details**
**Bankers** Habib Bank 5/7 High Street Southhall Middlesex UB1 3HA **Auditor** Ashford Louis Chartered Certified Accountants & Statutory Auditors 187 High Road Leyton London E15 2BY
Page 2
## **Fayz-e-Husayni International Trust**
## **Trustees' Report**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust deed, the Charities Act 2011 and “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 from 1 January 2015).
## **Objectives and activities**
The objectives of the Trust are as follows:-
- To foster and promote the performance of Hajj, Umra and Ziyarah and to aid and assist pilgrims in such
- • performance and for this purpose undertake and carry out ancillary and incidental activities including travel arrangements, exchange formalities, transport and the provision of education, accommodation and medical relief.
- To arrange Niyaz and provide amenities and facilities for pilgrims.
- To advance Islam and any other Islamic religious objects.
The policy of the Trust continues to be to seek additional support and provide for the aims as stated.
The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit and in deciding what activities the Trust should undertake.
## **Achievements and performance**
The Trust carries out a wide range of activities in pursuance of its charitable aims. The Trust organises pilgrimages to Saudi Arabia and Iraq. Due to Covid-19, there was a travel ban imposed by Government, this resulted in all tours to be cancelled or resheduled.
The investment property continued to provide a satisfactory return, enabling the Trust to fund the majority of its charitable activities.
## **Financial review**
The Trust is reliant on income from donations from community members and rental income from its investment property. In the year under review income from donations and charitable activities decreased from £695,940 to £2,155, this was mainly due to covid-19 there is no acitivity during that year and rental income also decreased from £185,882 to £157,953. Total expenditure decreased from £718,720 to £161,510. The unrestricted funds available are sufficient to permit the Trust to continue in operation for the foreseeable future.
## **Reserves policy**
The policy of the Trust is to maintain unrestricted funds, which are free reserves of the Trust, at a level in excess of unrestricted expenditure. This provides for sufficient funds to be available for all management and administration costs as well as ensuring that adequate funds continue to be available for the costs of meeting the Trust's charitable activities.
Page 3
## **Fayz-e-Husayni International Trust**
## **Trustees' Report**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The balance held as unrestricted funds at the year end was £7,378,276 (2019: £7,379,678), of which £329,566 (2019: £344,975) are regarded as free reserves, after allowing for funds tied up in tangible fixed assets. All unrestricted funds of the Trust are held for its general purposes.
## **Investment policy**
The Trust deed authorises the Trustees to make and hold investments using the funds of the charity. The Trustees also have power to hold funds with bankers as necessary. Due to the tenets of the Dawoodi Bohra faith, interest can neither be received nor paid.
## **Risk Assessment**
The principal risks faced by the Trust lie in the performance of investments and the operational risks involved in organising the pilgrimages.
The Trustees have assessed the major risks to which the Trust is exposed and are satisfied that systems are in place to mitigate exposure to those risks.
The policies and purposes of the Trust shall continue under the provisions of the Trust deed.
## **Impact of Covid-19**
On 11 March 2020, the World Health Organization declared the Coronavirus (COVID-19) outbreak to be a pandemic in recognition of its rapid spread across the globe. The Government introduced travel bans on all countries, due to this all planned pilgramages were cancelled or rescheduled. The Trust ensured that it adhered to all Covid-19 guidelines in relation to other activities.
For the charities 31 December 2020 financial statements, the COVID-19 outbreak and the related impacts are considered non-adjusting events. Due to the uncertainty of the outcome of the current events, the charity cannot reasonably estimate the impact these events will have on the charity’s financial position, results of operations or cash flows in the future. To minimise the uncertain financial risk associated with the pandemic , The Trust have put measures in place to ensure reduction is costs and income generation. The rental income received from investment properties would ensure all Trust overheads are paid.
The charity holds reasonable cash reserves to shelter against the impact of the current coronavirus pandemic. In addition, announcements by government of various initiatives to support businesses to address short-term income shortfalls should enable the charity to continue operationally.
## **Structure, governance and management**
The Trust was established by a charitable trust deed dated 26th August 1987, effected by the 52nd Dai al- Mutlaq, His Holiness Dr Syedna Mohammed Burhanuddin (RA).
The Trustees named on the legal and administrative information page have served throughout the year.
The power of appointing and terminating Trustees is vested in the Dai-al Mutlaq. Trustees are appointed for a term of five years or as may be determined by the Dai al-Mutlaq and at the expiry of each such term they are required to retire but they continue in office until the Dai al-Mutlaq appoints new Trustees. The new Trustees appointed may consist of some or all of the retiring Trustees
Page 4
## **Fayz-e-Husayni International Trust**
## **Trustees' Report**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
Meetings of the Trustees are held regularly at which they agree the broad strategy and areas of activity for the Trust. The day to day administration of grants and processing and handling of applications prior to their consideration by the Trustees, together with the administration of expenditure and other charitable activities is delegated to the Operating Trustee and the Treasurer.
New Trustees are considered for appointment, taking into account the skill requirements of the Trustee body. The induction process for new Trustees provides them with meetings with the Board of Trustees and with documentation setting out the policies and grant making processes of the Trust, the power and responsibilities of the Trustees and a brief history of the Trust including copy of the minutes and accounts.
The Trustees consider the board of Trustees as comprising the key management personnel of the Trust in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give their time freely and no Trustee remuneration was paid in the year.
There are related party transactions including relationships with the wider network of the registered charities with similar objects and these are disclosed in note 12.
## **Plans for the future**
The policies and purposes of the Trust should continue under the provision of the Trust Deed and the Trust aims to continue to promote the performance of Hajj and Karbala among the communities and the public at large.
The Trustees' report was approved by the Board of Trustees and signed on their behalf by.
## **Zainulabedeen bhaisaheb Shujaee Operating Trustee**
## **Dated: 29th October 2021**
Page 5
## **Fayz-e-Husayni International Trust**
## **Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust**
## **Opinion**
We have audited the financial statements of Fayz-e-Husayni International Trust (the ‘Trust’) for the year ended 31 December 2020 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, 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 Financial Reporting Standard 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:
- give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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**
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
Page 6
## **Fayz-e-Husayni International Trust**
## **Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust**
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)Regulation 2008 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the (set out on page ), the trustees 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**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' 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 its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Page 7
## **Fayz-e-Husayni International Trust**
## **Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust**
......................................
Mr Eric Ashong FCCA (Senior Statutory Auditor) For and on behalf of Ashford Louis, Statutory Auditor
187 High Road Leyton London E15 2BY
29 October 2021
Ashford Louis is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 8
## **Fayz-e-Husayni International Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2020**
|**Note**
**Income from:**
Donations
Charitable activities
2
Rental income
Total income
**Expenditure on:**
Charitable activities
4
Other expenditure
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**£**
-
2,155
157,953
160,108
(108,637)
(52,873)
(161,510)
(1,402)
(1,402)
7,379,678
7,378,276|**Total**
**2020**
**£**
-
2,155
157,953
160,108
(108,637)
(52,873)
(161,510)
(1,402)
(1,402)
7,379,678
7,378,276|**Total**
**2019**
**£**
100,000
595,940
185,882|
|---|---|---|---|
||||881,822|
||||(648,478)
(70,242)|
||||(718,720)|
||||163,102|
||||163,102
7,216,576|
||||7,379,678|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 11 to 19 form an integral part of these financial statements. Page 9
## **Fayz-e-Husayni International Trust**
## **(Registration number: 297673) Balance Sheet as at 31 December 2020**
|**Note**
**Fixed assets**
Tangible assets
8
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
11
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**|**2020**
**£**
497,710
6,551,000
7,048,710
3,571
483,997
487,568
(158,002)
329,566
7,378,276
7,378,276
7,378,276|**2019**
**£**
483,703
6,551,000|
|---|---|---|
|||7,034,703|
|||5,650
462,929|
|||468,579
(123,604)|
|||344,975|
|||7,379,678|
|||7,379,678|
|||7,379,678|
The financial statements on pages 9 to 19 were approved by the trustees, and authorised for issue on 29 October 2021 and signed on their behalf by:
.........................................
Zainulabedeen bhaisaheb Shujaee - Operating Trustee
The notes on pages 11 to 19 form an integral part of these financial statements. Page 10
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared on the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant note to these financial statements and have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The Trust is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
## **Basis of preparation**
Fayz-e-Husayni International Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Page 11
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Going concern**
Since the start of January 2020, the coronavirus outbreak, which is a rapidly evolving situation, has adversely impacted global commercial activities. The rapid development and fluidity of this situation precludes any prediction as to its ultimate impact, which may have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown.
The financial impact of the pandemic on the valuation of tangible fixed assets, financial assets and financial liabilities as at the balance sheet date has been reflected in the financial statements.
The trustees are monitoring developments relating to coronavirus regularly and are coordinating its operational response based on existing business continuity plans, in addition to guidance from global health organisations, the government and general pandemic response best practices.
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
The charity holds reasonable cash reserves to shelter against the impact of the current coronavirus pandemic. In addition, announcements by government of various initiatives to support businesses to address short-term income shortfalls should enable the charity to continue operationally. Thus, the going concern basis has been adopted in preparing the financial statements for the year ended 31 December 2020.
## **Income and endowments**
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.
Where possible, donations are accounted for on a receivable basis. However, it is recognised that voluntary donations from individuals cannot be treated in this manner where there is no contractually enforceable right to donations promised. For this reason donations from individuals are normally accounted for on a receipts basis.
Rental income is accounted for on a receivable basis.
Page 12
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust.
Governance costs are those incurred in connection with the management of the Trust, organisational administration and compliance with constitutional and statutory requirements.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## **Tangible fixed assets**
Tangible fixed assets costing £4,000 or above are capitalised and stated at cost less depreciation. All assets costing less than £4,000 are expensed. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Long leasehold property improvements 10 years Fixtures, fittings & equipment 20% on reducing balance method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities for the year.
## **Investment properties**
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
## **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.
Page 13
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Trade creditors**
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.
They are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Foreign exchange**
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. The net differences arising have been dealt with through the Statement of Financial Activities.
## **2 Income from charitable activities**
|Pilgrims aid and assistance - Hajj
Pilgrims aid and assistance - Karbala
**3**
**Rental property expenses**
Management fees
Repairs and maintenance
Other property expenses|**Unrestricted**
**funds**
**Designated**
**£**
-
2,155
2,155
**Direct costs**
**£**
30,828
20,974
1,071
52,873|**Total**
**2020**
**£**
-
2,155
2,155
**Total**
**2020**
**£**
30,828
20,974
1,071
52,873|**Total**
**2019**
**£**
208,600
387,340|
|---|---|---|---|
||||595,940|
||||**Total**
**2019**
**£**
36,294
33,228
720|
||||70,242|
Page 14
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **4 Expenditure on charitable activities**
|Pilgrims aid and assistance - Hajj
Pilgrims aid and assistance - Karbala
Contributions towards religious feasts
Dawat-e-Hadiyah Trust (United Kingdom)
Anjuman-e-Burhani (London)
Grants to individual|**Unrestricted**
**funds**
**Other**
**£**
-
3,917
-
3,917
**Grant funding**
**of activity**
**£**
10,000
3,894
-
13,894|**Total**
**2020**
**£**
-
3,917
-
3,917
**2020**
**£**
10,000
3,894
-
13,894|**Total**
**2019**
**£**
208,323
350,487
2,871|
|---|---|---|---|
||||561,681|
||||**2019**
**£**
2,700
3,553
1,000|
||||7,253|
Page 15
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **5 Analysis of governance and support costs**
## **Support costs allocated to charitable activities**
|Rent
Light, Heat & Power
Depreciation
Telephone & Fax
Computer software and maintenance cost
Sundry Expenses
Cleaning
Travel & Subsistence
Repair & Maintenance
Accountancy fees
Audit fees
Bank Charges
Staff Cost|**Governance**
**costs**
**£**
-
-
-
-
-
-
-
-
-
-
3,600
24
-
3,624|**Other support**
**costs**
**£**
2,104
1,507
57,337
1,006
-
155
3,955
-
-
-
-
-
12,000
78,064|**Total**
**2020**
**£**
2,104
1,507
57,337
1,006
-
155
3,955
-
-
-
3,600
24
12,000
81,688|**Total**
**2019**
**£**
2,104
2,636
45,220
1,176
2,000
2,758
4,829
1,690
538
3,334
3,600
163
11,600|
|---|---|---|---|---|
|||||81,648|
## **6 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
Page 16
**Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Tangible fixed assets**
|**Cost**
At 1 January 2020
Additions
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019|**Land and**
**buildings**
**£**
788,489
79,794
868,283
347,034
57,337
404,371
463,912
441,455|**Furniture and**
**equipment**
**£**
155,612
-
155,612
113,364
8,450
121,814
33,798
42,248|**Total**
**£**
944,101
79,794|
|---|---|---|---|
||||1,023,895|
||||460,398
65,787|
||||526,185|
||||497,710|
||||483,703|
The long leasehold properties are held directly for use for the charitable purposes of the Trust.
## **9 Fixed asset investments**
|Investment properties|**2020**
**£**
6,551,000|**2019**
**£**
6,551,000|
|---|---|---|
Page 17
## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Investment properties**
|**Investment properties**||
|---|---|
|**Cost or Valuation**
At 1 January 2020
**Provision**
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019|**Investment**
**properties**
**£**
6,551,000|
||-|
||6,551,000|
||6,551,000|
There has been no valuation of investment property by an independent valuer. The investment property is stated at the Trustees estimate of the fair value as at 31 December 2020. The investment property shall be independently valued in the coming year.
## **10 Debtors**
|Prepayments
Other debtors
**11 Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals|**2020**
**£**
844
2,727
3,571
**2020**
**£**
73,862
2,398
74,542
7,200
158,002|**2019**
**£**
5,650
-|
|---|---|---|
|||5,650|
|||**2019**
**£**
54,874
1,163
59,759
7,808|
|||123,604|
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## **Fayz-e-Husayni International Trust**
## **Notes to the Financial Statements** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **12 Related party transactions**
During the year the charity made the following related party transactions:
- Dawat-e-Hadiyah Trust (United Kingdom)
- Anjuman-e-Burhani (London)
## **Dawat-e-Hadiyah Trust (United Kingdom)**
The Trust made donations of £10,000 (2019: £2,700) to Dawat-e-Hadiyah Trust (United Kingdom) and was charged ground rent amounting to £2,104 (2019: £2,104). At the balance sheet date the amount due to/from Dawat-e-Hadiyah Trust (United Kingdom) was £Nil (2019 - £Nil).
## **Anjuman-e-Burhani (London)**
The Trust made charitable payments of £3,894 (2019: £3,553) to Anjuman-e-Burhani (London) during the year . At the balance sheet date the amount due to/from Anjuman-e-Burhani (London) was £Nil (2019 - £Nil).
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