THE MUSLIM EDUCATIONAL TRUST FINANCIAL ACCOUNTS FOR THF. YEAR ENDED 5TH APRIL 2024 CHAIIITY IIEGISTRATION NUMIIF,R .31.3192
THE MUSLIM EDUCATIONAL TRUST INDEX TO THE ACCOUNTS FOR THE YEAR EIYDLD 5TH APRIL 2024 Contents P# Trust Inforination Trustees, Aniiual Report Indepei)dent Exainiiier's Report Statemeiit of Finai)cial Activities Sale of Publ iLati01is Accouiit Balance Sheet NotLs to tlie Fiiiaiicial Accouiits 8-11
THE MUSLIM EDUCATIOiYAL TRUST TRUST INFORMATION Trustees: Dr. Zahiriil Huq BSC, MBCIIB Dr. Shaikli Muhaiiiinad Slialiadat Ilusain MBBS. DA (London) Dr. Fariiq Nuriil Arefiii MBBS, PLAB (UK), USMLL Dr. A.B.M. Nazem MBBS Professor Ghuldm Sarwar M. Com, FRSA Ms l.arlikil Yasiiieen Sarwar Bsc. PGCE Ms Siiltaiia Nasreen Sarwar MA, PCJCE Mr Hdsan Abdiillali Faruq Sarwar (appoint¢d 1710812024) Charity Registration Number: 313192 Registered Office: 130 Stroud Gr¢eii Road Loiidoii N4 3RZ Accountants: Sab¥f1c & Co ChLirlLrLd Accountant5 12() M idd ILSLX StrLLt Loiidon .1 711Y
THE MUSLIM EDUCATIONAL TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024 The Muslim Educational Trust is a registered Charily (Registration Number.. 313192). It was sel up in 1966. 'fhe Trust is situated at 130 Stroud Green Road. London. N4 3RZ. The Trustees of the Charity lo the year 5111 April 2024 are.. Dr Zahirul Huq. B.Sc, MBChB (appointed.. November 1999) Dr S M Shahadat Husain, ME3BS. DA (London) (appoinied.. October 2009) Dr Faruq Niirul Arefin, MBBS. PLAB (UK), USMLE (appointed: December 2002) Dr A B M Nazem. MEIBS (appointed.. ALigLisI 2005) Professor Cihulam Sarwar. M. Com.. FIISA (appoinled.. Jaiiuary 2010) Ms farhat Yasimeen Sarwar BSC. l)GCF, (appoinlcd.. 12 March 2016) Ms Sultana Nasreen Sarwar MA, PGCE (appoiiited: 12 March 2016) Mr Hasan Abdullah Faruq Sarwar was appointed as Trustee on 1710812024. The objectives of the Charity as per its Deed of Declaration of Trust (last amended 31 $1 July 2010) include the following.. To Lonlribute to the spiritual, moral. m¢ntal and physical development of the Muslim community in th¢ U K by securiiigT Ll'ficient education ol" Muslim children in the primary and secondary scliools. b. To arranbie for the relig)ious cducation of Muslim children in British schools based on the teachinL?s of the Qur'an and Siinn<211. To provide w iihiii ili¢ InLans ol. tlie Trust cducation lacil ities and ancillary services in the UK. d. To Inanabye and equip stal-l.. and Imainiain cdLILcilioiial inslilulions e. To purch¢ise, takL on ILas¢ hire or oilicrwi%L acquire and dispose of any real, personal or any other property and any ribjhls or privileb>Ls necessiiry or convenient lor the purpiises of the 'frust. f. To publish Islamic books, jouriials, ma7<ineS. teaching aids and award scholarships to Muslim stLidents in the UK and elsewhere. Durinbl the yLar. the Charity lias conlinLied to carry OLlt Ilie piibl ishing and sale organisalion of ils hoi)ks and poster public1L tic)ns de4igiiied lu pr()vide benLtit lor Ihe Muslim community, in raising awareness and by way of provisioii ot. education Iliroubih its publications. In carrying out these activities the Truslecs have made due consideration of the Charity Coillinission, s g?uidance on public benefit. includinbi when exercisingF any powLrs or carrying? oul any dulles lo wliich the guidance is relevant. The charily is managyed by a Board of Truslees and is I'unded by 11)e profit/(loss} derived from the sal¢ proceeds of the books and eduLational materials PLiblishLd by it. reiital income from renting four rooins of th¢ freehold property wl)erc its ol'lice% are localLd aiid froin the sale proceed5 of its freehold property al 48. Lancaster Road. London N4 durinbl ?008. The Charity's total sales inLoine from its sale of publications duringy th¢ year ainounted lo £29,694 and after cosl of sales of £13,760 and iolal expenditure ot. £34,771. a nei10s5 01- £18,837 arises. The Charity received a lolal iiei rental incorne of £24,318 (calculated as gross rental income of £30,500 deducting) rental expenscs of £6,182). The Charity's total income for the year was £64,580 comprising gross rcnt received of £30,500, interest from bank & investment deposits 01. £3,598, gross sales froin the sale of publications of £29,694 and other charity incoine of £788. The total expenditure of the charity for the year was £73.530 (including sales of publication expenses of £48.531 and rental income expenses of £6,182). The deficit lor the year was £8,950 which was met from the unspent sale procecds derived in 2008 from the sale of the property at 48 Lancasler Road. London N4.
THE MUSLIM EDUCATIONAL TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5TII APRIL 2024 CONTIIYUATION PAGE The Trustees decided to discontinue the grants paid to the UK Islamic Association from December 2011 and also to Lonliiiue the graiit paid to Darul Kliidmah Wal Falah. UK to be used in Bangladesh. As at 5th April 2024, the Trust has two part-time employees. As advised by the accountant ot ihe Charity. the trustees continued lo review the amount of bank deposits lield wilh one bank in consideration of the Lompensdtion limits set by th¢ fintincial Services Coinpensation SchemL (FSCS). The Chairman of Ihc Boic rd of Truslees, Profcssor Ghulam Sarwar has been running the I'rust on a voluniary basis since 4th Jaiiuary 2010. Rcserves Polic As dLtitilcd above tl)c Trust CeIve5 income through tlic sale of its publiLalions and through rental incoine of ils prop¢fly. Th¢ opLrational Losls of Ihe charily are met Ihrougli this income. It has bLen noted that ovcr the past y¢ars the Triist has been arrivingl at a net deticit position for the accounting year. The Trustees believe that the lev¢1 ol. reserves held should be able lu allow the Trust to meet its cliaritable objeclives and also to Ineet any nel dcticil position arisinbi and also for any unforeseen risk's and contingyenci¢s. Al tliL YLar F.ndLd .5111 A pril 2024 Ilic iolal unrLslriLled reserves held ainounlcd to £•78,962. This I¢vLI of rcsL'rvL% lia8 b¢cn bLiiII LIP I l'oin IliL salL pfocLeds dLrived in 2008 from the property sitiiated al 48 Lancaster Road. l.ondon. N4. The Trustees undertake to maintain this level of resLrves whiuh has been decrcasinby each year in ord¢r to meet yLarly opLrating? aclivilies and expeiises. l-he Trustees confirm tlial utilisingi these sale proceeds ag?ainst opLrdling costs of the charity is perinitted in their gyoverning docuin¢nts. The level of reserves required and the reserves policy will be reviewed on an annual basis by the Trustees. The Trust is c()n%iderinb? ways to iiiLrLasc its salls incoinL froin the sale of publications of its books aiid joiirnals. 'fhe dinounl held in reserves is Inonitored regTularly by ihe Truslees during each linancial year. Coronavirus Duringi ihe year under review, the Cliarity's work was impacted by the Covid 19 pandemic apart froin the gllobal slowdown ol. tlie Islainic PLiblications Inarkil. However. the trustees are conscious of their responsibilities and have bLen duingy their best to keLP Ihe charity running, mecting) the education£il iieeds ot- the Miislim coininlinity despite sustdiniiib Ioss¢5 over the years. Please also refer to Note l of the Accounts with regard to the .1 rustees assessmenl of goin¥ LOI)cern. There is nothinb) more to report lor the year ended 5th April 2024. proved the Trustees Annual Repx)rt above, The trust¢es declare that they hav Professor Ghulam Sarwar (Chairinaii, Board of Trustees) For and on behaifof the Truslees of The Muslim Educatioiial Trust Dated.. 15, November 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRLISTEES OF CHARITY NUMBF.R: 313192 THE MUSLIM EDUCATIONAL TRUST ON THE ACCOUNTS FOR THE YEAR ELYDED 5TH APRIL 2024 report to the charity Trlislees ori Iny examinati(In of the accounts of Tlie Musliin Educational Trust (the Trust) for the year ended 5tli Apri12024. onsibi lities and basis of r¢ ort As the charity Trustees of tlie Trust you are respoiisible for the preparation of the accounts in accordance with the requireineiits ot. Ihe Charities Act 2011 ("the Act"). report in respect of my ¢xamination of the Trusl's accoLlllts carricd oul undL'r SeLtion 145 of the 201 l Act. Iii carrying) out Iny exaiii iiialion I liave fol lowed all Ihe appl i¢able Directions giveii by tlie Cliarity Coiiimission uiider S¢clion 145 (5) (b) ot" tlic 201 l Act, Iiidc endeiit Examiner's %iatcineiil I have coinpleted my exain inatioii. I coiil Irin ihat iio Inal¢rial In<ltters have coinc to my altenlioii iii coniiectioii witli tlie exaiiiiiialicin byiv ing7 Ime Lduse to bel ievL iliat in any material respect.. accnuiiting records were noi kepi iii respect of the Trust as required by Section 130 of tlie Act; or 2. tlie accounts do not aL¢ord willi tlic)se records: or 3. tlie accounts do not c()Inply witli Ilie appl icable reqLI ir¢menls coiiLern ingi ihe form aiid coiiteiil ol. accoliiils scl ciiit iii thL CharitlLS (Accouiits ai)d Reports) Rebiulations 2008 otlier tlian aiiy reqiiirLiiiLiil Iliat tliL ¢1LLOLllIts b? IVL. 'trLIL aiid f (iir viLw" wliiLlI is iiol d Inalt¢r LOliSidLr¢d parl ol. ali indLp¢iideiil Lx(Iiii iiialioii. oilier ii)alter of coiicerii identificd.. DuringF tIIL' yL'(ir ¢iided 05104120?4, IliL Cliarity's Santaiider Baiik ALLOUllts were closed by the bank aiid tlic Inoiiey was trdii%lLrrLd t() tlie Cliarity's 13arclays Baiik Account. Dctails of tliis traiisaction werc iic)t avi2ilablc wlii 1st pr¢pciriiigi iliese Account%. I contirm tliere arc iio otlier matlers to wli icli yoiir <ltlcntioii should be drawn to enable a proper understandingp of the accounts to be reached. Sabera Patel FCA, AI'T (Fellow) Sabera & Co. Chartered Accountaiits 126 Middlesex Street, l.oiidon, E17HY Dated: 15th November 2024
THE MUSLIM EDUCATIONAL TRUST STATEMENT OF FINANCIAL AC.TIVITIES FOR THE YEAR TO 8TH APRIL 2024 Income & Ex enditure UnrLstrictLd Fund 2024 UnT¢51ricled Fund 2023 Notes INCOME: Ineome from A55etS (iro%5 IILiiliil IiiLiiinL Received 30.500 30.684 Inlcrcsl RLL¢ivahle Iriim Sh()rt TLrm & t4iink l)LPI)%iI% l.L'%S.' D()ndtiuns lo Charity 3.598 101 608 101 3.5911 6011 -34.0911 31,292 Income from C".hAritible Aetivities CJro85 SalL% Irom Sale ill. l)ubli¢iltions ()Ih¥r Lhdrity InL()me 29.()94 7XII 27,314 'I'otal Income for the Year 13 64,41111 EXPF.NDITIIRE Rent#l Income "X Mun¢lk)jiig? AgL"ni L'.()mmis%ii)n enses 3,143 1,11811 3,3117 11,4111 ()<)2 ()IhLr l.¥lling LxpLnses ().1112 Sile of PublicAtiuns Ex enses (..hritAble Tr'x enditure 13,7()0 13,445 -35.321 411.766 l)in'il l.'xp¥nSLS 411.531 Direct Charilfible F.x i¢ill' salaries enditure 4.050 759 4.800 2.531 648 4.800 187 8.166 ub%Lripli()ns & l)¢rii)diLiil% g.X07 Indirect ChAritAble fr.% IldlLS £in(I Wdllr l.igFht & 14LiII In5urai)LL .1 LILphone,1'8x & InlLrnLII Priniing.11()%l(Igi & Stali()nLry RLpairs & Mainlenun¢ ALLI)untanL) FLL ¢nditure l.X18 1.671 55U ()()5 572 242 620 559 1.8x5 3.021 150 18Q 156 377 883 65 507 12,139 14ank C'hargFe .1 ravel F.XPLll5LS Cjeneral F.xpLnses Am()rlisalii)n DLpreiialion 47 9116 ()5 4.38 y.1110 Total Ex enditure 77,481 Net Incomel enditure for the Year (8,9501 118.8751 AcLumulatLd F und brought lorward ul 6.4.2023 287,912 306,787 ALLumulated Fund C<irried lorward at 5.4.2U24 13 278,962 287,912
THE MUSLIM EDUCATIONAL TRUST SALE OF PUBLICATIONS ACCOUNT FOR THE YEAR ENDED 5TH APRIL 2024 Notes 2024 2023 Total Sales for the year (A.F pcr.gialLmenl ol'Financial AcliviliL.w) 29,694 27,314 Less: Cost ofsales Opening Slock at cost 21.518 10,165 Printing) Cosls during? the year 5,688 24,798 27,206 34.963 Deduct: Closingv Siock at Cost (13,446) (21,518) C'c),51 c)]',Sale,%.' Per,gialemenl of FinunL'iul Ac'liviliL.s.' 13,760 13,445 G ross 1)rofit 13,869 Less F.x ensL'S: Sales SialT Salaries & Subconlractor Travel ling E,xpcnses Royalties Payable Freighi & Delivery Software Costs Postage Stationery & Pholocopyin LigFhi & 14cat TL'lephone, Fax & Internet Sales Bad Dcbt General Expeiises 18,360 3.544 2,969 4,034 487 19.798 2,672 2,731 4,922 453 565 2.337 1.043 495 906 1.877 839 883 Tolul Expenses.. Per .SiulLJmLJnl ()]'FinanL'ial AL'liviliLJJ 34,771 35,321 Net Profil/ Loss for the Year (18,837) (21,4$2) on Sales of Publications
THE MUSLIM EDUCATIONAL TRUST BALANCE SHEET AS AT 5TH APRIL 2024 Notes 2024 2023 Fixed Assets Tan ible & Intan ible Assets Freehold Premises.. 130 Stroud Green Road. London N4 ai Cost rovemLnls - Balance brought forward at 6.4.2023 rovement additions during the year 24,132 24,132 49,667 49.667 49,667 73.799 49,667 73,799 Inlan ible Fixed Asset W¢bsile al Cosl Less.. Amortisalion 649 (195) 649 {130) 454 519 Fixtures Fittin Furniture & E Bal(Ince brou&Jhi form'drd ill 6.4.2023 Addilions durinb> the year ment 61,127 233 44 61,404 58,92.3 Less.. Depreciation 58.485 2.481 2,875 Libra Book's BalaiiLL brliughi f[)r'ard ilt 6.4.2021 Additions 7,9.12 7.9.32 84.666 85,125 Cu I'i'ent Assels SioLk of Publications at cosl D¢bior% PrLpaymeiils Inv¢simen15 Cash ai Bank Cash in Hand 21,518 10,284 40,808 134,724 1,312 10 i i ().i.I 121,299 49.826 598 199,101 208,646 Less: Current Liubilities Due within i)ne ¢#r Sundry Credilors and ALLruals 12 (4,807) (5,859) Net Current A$4et5 194.296 202,787 Total Iyet Assets 278,962 287,912 rcscnted B Unrestricted Accumulated Fiin 13 278,962 287,912 Professor Ghulam Sanvar (Chairman, Board of Trustees) For and on behalf of the Board of Truslees of The Muslim Educational Trust Dated- 15ih November 2024
THE MUSLIM EDUCATIONAL TRUST NOTES TO THF ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 I) ACCOUNTING POLICIES General These Accounts have been prepared under Ihe historical cost convention and in accordance with the Charities SORP (FRS 102) (Accounting and Reporting by Clidrities.. Stalement of Recommended Pr(Iclice appl icable lo charilies preparinbv their accoiinls in accordance with the Financial Reporting Standard appl icable in the U K and Republic of Ireland {fRS 102)) (effective l January 2019), FRS 102 (the financial Reponing Slandard appl icable in the UK and Republic of Ireland) and the Charities Act 2011. De recialionlAmortisalion Polic Tangyible fixed assets arL slaled al cosl less depreciation. Depreciation is provided ai the annual rate in order 10 write off each asset over its estiinaled USLI'UI e¢oiioin ic life. The deprecialion rate for Fixtures. Fittingis & OllILe Eqiiipinent lield t.or use by the charity is 15 % on the reducing balance basis. Freehold Premises with a long useful economic life is not deprecialed. Amortisalion on Intangyible Fixed Assel is slrai&Jht l ine over l O years. Profitl Loss froin the S(Ile of Publication.8 The byross incoine g?LnLralLd froin th¢ salL' ol. the Trust's book public¢ltions and related expenditure is shown 5eparalely undLr tlie Stateinent of Fi ndncidl Aclivilies. Pleiise reter to the Sale of Publications Account which Lompules ihe net incomel(loss) derived from this aclivily. Under the Sale of Piibl ications AcLounl, tol¢il sales income i.s shown on a ceiVable basis, repre8enling? the invoiced vali1¢ ol. Trust publ iLalions dLiring? the year. Stock is valued at the lower ol. cost and net real isable valLIe. Incoine Irom Assels Interest froin Short 'ferin & Bank DLposils is reco&?nised wlien receivable. Rental Income is recogFni5cd on a rccLived bilSIS. Trade Debtors Trade debtors are amounts due to tlic Trusl froin cusloiners for tl)e sal¢ of books and publications measiired al invoiLed airoiints aftLr any discounts. Creditors Creditors are measured al settleinent ainounl after any discolints. Public Benefit Entit Statcinenl 'I'lie I'rusl is a piibl ic benefit Lnlily. Please refer to 11)e TruslLLs' Annual Report for comments made in respect ot. adherence to (he Charity Commission's byuidance on public benefil. (loin Concern These financial accounts have been prepared on a g?oing? concLrn basis, based on the asfjessment made by Ihe Trustees. I'he I"rustecs liave explai lied Ili(Il tlie I"ru8t has bLcn meetingp a sibyni IILant educational necd of thL M us1 iin LoininLinity. Tlie Trustees believe Ihc11 tlie TrLisI will sustain for nearly another ten to fitteen years based on the prLsLnl financial situation. The Trustees lTrav¢ mentioned that some of the present Trustees are young professionals wlio (Ire aiming Io sleer the Trusl and keep it runninLy for meeting the educational nceds of the Muslim cominunity for which the charity was set up. The Trustees have coinm¢nled that they are ensuring that income is continued to be derived from the sale ot. ils books and publ ications and from rental income and that they are trying to keep expenses to thc minimum. The Trustees have also mentioned that during the year under review. the charity's work was impacted by the Covid 19 pandemic apart from the global slowdown of the islamic publications market. The Trustees have commentcd they are conscious ot. their responsibilites and have been doing their best to steer Ilie charity as a going concern despite sustaining losses over the years.
THE MUSLIM EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YF.AR ENDED 5TH APRIL 2024 I) ACCOUNTJNG POLICIF,S {CONTINUED) Taxation As the Trust is a registered charity. it is exempi from taxation on ils income derived from charilable activities. Defined Lontribution ension scheme The Trusl pays into a defined Lonlribulion OLuupational pension scheme for its employee. Contributions are expensed as tliey become payable. Other Charit Incvme During the year ihe Trust received other Income of £788. This income relates to the Trust allowing the righl to an Indian Publisher of books, to publ ish a book of the I'rust in India. 2) FIXF.D ASSF.TS FOR USE BY THTr: CHARITY Iiitaii ible Fixtures Fitiin & otli¢e Freel)old l)r¢iniscs l.ibrar Books AssL't ui 1.otal Cost.. Al 6th April 2023 Improvemcnls blwd at 6th April 2023 Additioris during? the yLar Cost of- Dispogals Al 5111 A pril 2024 recialion/Amorlisiltion At 6th April 2023 Chargye tor the year Depreciation of Disposals At 5th April 2024 649 61,360 7.932 94.073 49,667 44 49.667 44 73.799 649 61.404 7.932 143,784 130 65 58,485 438 58,615 503 195 58,923 59.118 Net Book Value at Sth April 2024 Nel Book Value al 5th April 2023 73,799 2,481 7,932 84,666 73,799 519 2.875 7.932 85.125 2024 2023 3) RENTAL INCOME RF.CEIVF.D Re: 130 Slroud Green Road, London N4. Gross Rental Income Less: Renlal Income Expenses Net Rental Income 30,500 6,182 24,318 30,684 8.410 22,274 4) INTEREST RECEIVED Money Market Deposits Deposit Accounts Bank Accounls 3,057 491 50 60 126 608
THE MUSLIM EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 2024 2023 5) ACCOUNTANCY FF.E Independeiit Exainiiiation 1.100 1,100 6) STAFF REMUIYERATION & SUBCONTRACTOR Staff Salaries (Direct Charitable Expenditure) Sales Stall- Salaries & Subconlractor (Sale of Publications) 4,050 18.360 2?.410 2.531 19,798 22,329 Analysed as follows.. S£ilaries Subcontractor Employer contributions to defined contribution pension scheme Employer National Insur<ince 19.875 2,160 375 12.000 9,675 269 385 22,329 22.410 Averagie number of paid staff during? the yLiir During the year there had been £nil Adinini51ralive salaries as this work had been carried out by one of Ihe trustees on cl V()ILintary basis. There are no employees wlio received reinuneralion of Inore than £60.000 during the year. Related Part Thc-l rust cmploys Dr M. K. HasL1n who was paid a salary of £12.000. travel allowance of £3.300 and einployer conlribLltions into OLLLIPdlion(Il pensiun sclieme ot. £279. Dr M. K. Hasan is the spoiise of the Trust¢e Ms SLiltana NasrcLn Sdrwar. 7) EDUCATIONAL C.RANTS PAID Darul Khidmah Wal Falah, UK 4,800 4.800 Related Parties: The lollowing Trustees are also Trusiees of Darul Khidmah Wal Falali, UK.. l ) Professor Ghularn Sarwar 2) Dr Farllq NurLII Arefin 3) Dr Zahirul Huq 4) Ms Sultana Nasreen Sarwar 10
THE MUSLIM EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL2024 2024 2023 8) ROYALTIES PAYABLE TO TRUSTEE Royaliies Payable 2,969 2,731 The royalty is payable to the trustee Professor Ghulam Sarwar as Author of the books published by the Trust. Payment of royalties lo the trustee (calclilated at l O % of biross sales of Trust publications during the year) had been agreed and approved by the other Iruslees, who acknowledged that Ihe trustee has been the sole A ullior of the publicalions unique to the Trust. In carrying) out this aclivily. it was agreed that Ilie trustee had acled over and above normal trustee dulieq. This point was ¢xamined with relirLIicL lo the Charity Coinmission gyuidelines and il is concluded that il is in acLorddnce therewilh. There were no other Trustees, remuneration or other bencfils paid lo the Trustees by the Trusl. 9) TRUSTEE EXPENSES (SUBSCRIYfioNS & PERIODICALS) Durinuy the year one ot" Ilie Trustees incurred Inembersliip subscription expense as fol lows which was paid for by the Trust.. Membership Subgcription lo T'he Royil Sociely for the encoLiragiLmeiil of. A rt%. Maiiulaclures & CoininerLe 198 187 10) DF.BTORS AND PRF.PA YMF.IYTS Debtors (re Invoiced TrLisI Publ icalinii%) Sliiidry l)Lbiors l)r¢payinLnls 1.1,4.54 170 309 13,933 6.727 500 3.057 10.784 11) INVESTMENTS HF.LD Jase Raie Deposil Money Market Deposit 41.299 811.0110 121 ?99 40,808 40.808 12) SUNDRY CREDITORS AND ACCRUALS Sundry Creditors Accrued expenses 1.934 3.925 5,8.$9 4,794 4,807 13} MOVF,MENT IN FUND Balance At 61412023 Balance enditure At 51412024 Income Restricted Fund Unrestricted Fund 287.912 287,912 64,580 64,580 73,530 73,530 278,962 278,962 Total Funds