2023-12-31-accounts

Charity registration number: 297673

Fayz-e-Husayni International Trust

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

Fayz-e-Husayni International Trust

Contents

Reference and Administrative Details	1 to 2
Trustees' Report	3 to 4
Statement of Trustees' Responsibilities	5
Independent Auditors' Report	6 to 9
Statement of Financial Activities	10
Balance Sheet	11
Notes to the Financial Statements	12 to 19

Fayz-e-Husayni International Trust

Reference and Administrative Details

Trustees : Appointed on 28.01.2024

Shabbir bhaisaheb bin Shahzada Jamaluddin Saheb (name as in passport Shabbir Ammar Jamaluddin), - Chairman Mustansir bs bin Farazdaq bs Husaini (name as in passport Mustansir Farazdaq Zainuddin), - Operating Trustee Mulla Hunaid bhai Shaikh Sirajuddin bhai Hatimbhai (name as in passport Hunaid Hatembhai), - Secretary Mulla Abdulqadir bhai Zoeb bhai Rangoonwala (name as in passport Abdul Kader Zoeb Rangoonwala), - Joint Secretary Juzer bhai Shaikh Murtaza bhai Halai (name as in passport Juzer Murtaza Halai), - Treasurer Huzaifa bs Mohammedi (name as in passport Huzaifa Zainuddin) Shaikh Zoeb bhai Kukshiwala (name as in passport Zoeb Shaikh Abdeali) Shaikh Mustafa bhai Shaikh Yusuf bhai Poonawala (name as in passport Mustafa Yusuf Poonawala) Mulla Taher bhai Shaikh Hamza bhai Jivanji (name as in passport Taher Hussein Jiwanji) Mulla Huzaifa bhai Mulla Khuzaima bhai Saam (name as in passport Huzefa Sam) Mulla Huzaifa bhai Abbas bhai (name as in passport Huzefa Abbashai) Mazoon-e-Dawat il-Haq, Dr. Syedi Qaidjoher bhaisaheb Ezzuddin[DM ] (name as in passport Qaid Joher Ezzuddin ) Shahzada Taha bhaisaheb Najmuddin (name as in passport Taha Mufaddal Saifuddin) Zainulabedeen bhaisaheb Shujaee Abbas bhaisaheb Shujaee Shaikh Aliasger bhai Kerai Shaikh Juzer bhai Maimoon Shaikh Bashir bhai Jariwala Aliasger bhaisaheb Jamali Shabbir bhai Mama

Trustees: Term ended on 28.01.2024

Page 1

Fayz-e-Husayni International Trust

Reference and Administrative Details (continued)

Charity Registration Number	297673
Principal address	14 Amatullah Villa
	Mohammedi Park
	Rowdell Road
	Northolt, Middlesex
	UB5 6AG
Auditor	Ashford Louis
	Chartered Certified Accountants & Statutory Auditors
	187 High Road,
	Leyton
	London
	E15 2BY
Solicitors	B D B Pitmans LLP
	50 Broadway
	London
	SW1H 0BL
Bankers	Habib Bank AG Zurich
	5/7 High Street
	Southall
	Middlesex
	UB1 3HA

Page 2

Fayz-e-Husayni International Trust

Trustees' Report

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

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, Egypt and Iraq.

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 increased from £249,879 to £413,303 and rental income increased from £172,527 to £200,689. Total expenditure increased from £221,620 to £640,851.

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.

Year end balance held was £7,555,627 (2022: £7,582,486), 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 purpose.

Investment policy

Page 3

Fayz-e-Husayni International Trust

Trustees' Report (continued)

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.

Structure, governance and management

The Trust was established by a charitable trust deed dated 26th August 1987, effected by the 52nd Dai alMutlaq, 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

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 15.

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.

Mustansir Husaini (Oct 31, 2024 18:41 GMT)

Mustansir bs bin Farazdaq bs Husaini

Operating Trustee

31 October 2024

Page 4

Fayz-e-Husayni International Trust

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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.

Page 5

Fayz-e-Husayni International Trust

Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust For Year ended 31 December 2023

Opinion

We have audited the financial statements of Fayz-e-Husayni International Trust (the ‘Trust’) for the year ended 31 December 2023 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 2023 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 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.

We have nothing to report in this regard.

Page 6

Fayz-e-Husayni International Trust

Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust For Year ended 31 December 2023 (continued)

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) to check with reference to Charities Act 2011 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 Statement of Trustees' Responsibilities (set out on page 5), 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 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.

Page 7

Fayz-e-Husayni International Trust

Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust For Year ended 31 December 2023 (continued)

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

• We obtained an understanding of the legal and regulatory requirements applicable to the charity. We considered that the most significant are those that relate to the reporting framework being FRS102, Charities SORP (FRS 102), Anti-Money Laundering and Charities Act 2011 rules and regulations

• We obtained an understanding of how the charity complies with these requirements by discussions with management and those charged with governance.

• We inquired from management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. We designed our audit procedures to identify instances of non-compliance throughout the audit and remained alert to instances of non-compliance throughout the audit.

• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

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

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 8

Fayz-e-Husayni International Trust

Independent Auditor's Report to the Members of Fayz-e-Husayni International Trust For Year ended 31 December 2023 (continued)

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 audit 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.

...................................... Mr Eric Ashong FCCA (Senior Statutory Auditor) For and on behalf of Ashford Louis, Chartered Certified Accountants & Statutory Auditor

187 High Road Leyton London E15 2BY

31 October 2024

Page 9

Fayz-e-Husayni International Trust

Statement of Financial Activities for the Year Ended 31 December 2023

Note	Unrestricted Total Total
	funds 2023 2022
	£ £ £
Income from:
Charitable activities 2	413,303 413,303 249,879
Rental income	200,689 200,689 172,527
Total income	613,992 613,992 422,406
Expenditure on:
Charitable activities 5	(560,500) (560,500) (168,989)
Other expenditure	(80,351) (80,351) (52,631)
Total expenditure	(640,851) (640,851) (221,620)
Net(expenditure)/income	(26,859) (26,859) 200,786
Net movement in funds	(26,859) (26,859) 200,786
Reconciliation of funds
Total funds brought forward	7,582,486 7,582,486 7,381,700
Total funds carried forward	7,555,627 7,555,627 7,582,486

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 12 to 19 form an integral part of these financial statements. Page 10

Fayz-e-Husayni International Trust

(Registration number: 297673) Balance Sheet as at 31 December 2023

Note	2023 2022
	£ £
Fixed assets
Tangible assets 11	586,713 652,024
Investments 12	6,735,000 6,735,000
	7,321,713 7,387,024
Current assets
Debtors 13	- 15,400
Cash at bank and in hand	393,476 349,064
	393,476 364,464
Creditors: Amounts falling due within oneyear 14	(159,562) (169,002)
Net currentassets	233,914 195,462
Netassets	7,555,627 7,582,486
Funds of the charity:
Unrestricted income funds
Unrestricted funds	7,555,627 7,582,486
Total funds	7,555,627 7,582,486

The financial statements on pages 10 to 19 were approved by the trustees, and authorised for issue on 31 October 2024 and signed on their behalf by:

Mustansir Husaini (Oct 31, 2024 18:41 GMT)

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

Mustansir bs bin Farazdaq bs Husaini

Operating Trustee

The notes on pages 12 to 19 form an integral part of these financial statements. Page 11

Fayz-e-Husayni International Trust

Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2023

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. 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 have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Going concern basis has been adopted in preparing the financial statements for the year ended 31 December 2023.

Income and endowments

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.

Page 12

Fayz-e-Husayni International Trust

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2023

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 - 25 years on a straight line basis Improvements to property - 10 years on a straight line basis 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 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 statement of financial activities.

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

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 creditor 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.

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.

Page 13

Fayz-e-Husayni International Trust

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2023

• 2 Income from charitable activities

2 Income from charitable activities
	Unrestricted
	funds	Total
	General	2023
	£	£
Pilgrims aid and assistance - Religious sites	393,183	393,183
Donations received	20,120	20,120
	413,303	413,303

3 Investment income

3 Investment income
	Unrestricted funds
	General Total 2023 Total 2022
	£ £ £
Income from rents	200,689 200,689 172,527
	200,689 200,689 172,527

Page 14

Fayz-e-Husayni International Trust

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Rental property expenses

4 Rental property expenses
		Total	Total
	Direct costs	2023	2022
	£	£	£
Management fees	19,877	19,877	26,486
Repairs and maintenance	46,383	46,383	21,345
Otherpropertyexpenses	14,091	14,091	4,800
	80,351	80,351	52,631

5 Expenditure on charitable activities

5 Expenditure on charitable activities
	Unrestricted funds Total Total
	Other 2023 2022
	£ £ £
Pilgrims aid and assistance - Religious sites	349,079 349,079 191,788
Governance and support costs (Note 6)	103,005 103,005 (96,925)
Grant making (Note 7)	106,312 106,312 74,126
	558,396 558,396 168,989

Page 15

Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2023

Fayz-e-Husayni International Trust

6 Analysis of governance and support costs

Support costs allocated to charitable activities

Support costs allocated to charitable	activities
	Governance	Other support	Total	Total
	costs	costs	2023	2022
	£	£	£	£
Rent	-	-	-	2,104
Light, Heat & Power	-	1,015	1,015	2,382
Depreciation	-	65,311	65,311	63,081
Fair Value Revaluation of Investment
property	-	-	-	(184,000)
Telephone & Fax	-	1,046	1,046	1,010
Sundry Expenses	-	486	486	1,740
Cleaning	-	5,148	5,148	4,224
Repair & Maintenance	-	10,764	10,764	-
Audit fees	3,600	-	3,600	3,600
Bank Charges	113	-	113	140
Staff Cost	-	15,522	15,522	8,794
	3,713	99,292	103,005	(96,925)

7 Grant-making

Analysis of grants

Analysis of grants
	Grants to institutions
	2023	2022
	£	£
Analysis
Dawat-e-Hadiyah Trust (United Kingdom)	102,300	68,894
Anjuman-e-Burhani(London)	4,012	5,232
	106,312	74,126

8 Trustees remuneration and expenses

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

9 Staff costs

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

Page 16

Fayz-e-Husayni International Trust

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2023

	2023 2022
	No No
Administration staff	2 1

No employee received emoluments of more than £60,000 during the year

10 Taxation

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

11 Tangible fixed assets

11 Tangible fixed assets
	Land and buildings Furniture and equipment Other tangible fixed asset Total
	£ £ £ £
Cost
At 1 January2023	958,073 207,874 143,010 1,308,957
At 31 December 2023	958,073 207,874 143,010 1,308,957
Depreciation
At 1 January 2023	498,198 144,434 14,301 656,933
Charge for theyear	38,322 12,688 14,301 65,311
At 31 December 2023	536,520 157,122 28,602 722,244
Net book value
At 31 December 2023	421,553 50,752 114,408 586,713
At 31 December 2022	459,875 63,440 128,709 652,024

The long leasehold properties are held directly for use for the charitable purposes of the Trust.

Page 17

Fayz-e-Husayni International Trust

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2023

12 Fixed asset investments
	2023 2022
	£ £
Investment properties	6,735,000 6,735,000

Investment properties

	Investment
	properties
	£
Cost or Valuation
At 1 January2023	6,735,000
Provision
At 31 December 2023	-
Net book value
At 31 December 2023	6,735,000
At 31 December 2022	6,735,000

The Trust carried out an independent valuation of the property on 31 March 2022, prepared by John Churchouse FRICS and Simon Aldous MRICS, both of whom are RICS Registered Valuer’s appointed by Savills. The market value of the property as per the valuation is £6,735,000.

13 Debtors

	2023 2022
	£ £
Other debtors	- 15,400
14 Creditors: amounts falling due within one year
	2023 2022
	£ £
Trade creditors	82,004 82,004
Other taxation and social security	- 3,202
Other creditors	66,148 66,088
Accruals	11,410 17,708
	159,562 169,002

Page 18

Fayz-e-Husayni International Trust

Notes to the Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2023

15 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 £102,300 (2022: £68,894) to Dawat-e-Hadiyah Trust (United Kingdom) and was charged ground rent amounting to £2,104 (2022: £2,104) At the balance sheet date 31st December 2023, the amount due from Dawat-e-Hadiyah Trust (United Kingdom) was £6,312 (2022 - £4,208).

Anjuman-e-Burhani (London)

The Trust made charitable payments of £4,012 (2022: £5,232) to Anjuman-e-Burhani (London) during the year. At the balance sheet date 31st December 2023, the amount due to/from Anjuman-e-Burhani (London) was £Nil (2022 - £Nil).

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2024-10-31

Final Accounts 2023 ver 2

Final Audit Report

Created: 2024-10-31 By: TAHAS ACCOUNTANTS ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAAj-Awdhx1P4qWJlG_Clw8RFOVjZuZWPC3

"Final Accounts 2023 ver 2" History

Document created by TAHAS ACCOUNTANTS ([e-mail])

2024-10-31 - 18:20:13 GMT- IP address: 62.30.16.26

Document emailed to [e-mail] for signature

2024-10-31 - 18:20:18 GMT

Email viewed by [e-mail]

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Signer [e-mail] entered name at signing as Mustansir Husaini 2024-10-31 - 18:41:42 GMT- IP address: 31.94.2.55

Document e-signed by Mustansir Husaini ([e-mail])

Signature Date: 2024-10-31 - 18:41:44 GMT - Time Source: server- IP address: 31.94.2.55

Agreement completed.

2024-10-31 - 18:41:44 GMT