Charfty registration No: 326272
Ismaili Trust (UK)
Financial Statements
31 December 2024

Ismaili Trust (UK)
Contents
Page
Trustees and Trust Enformation
Report of the Trustees
Independent Auditor's Report
Consolidated Statement of Financial Activities
10
Balance Sheet
li
Consolidated cash flow statement
12
Notes to the Accounts
13-22

Ismafilfi Trust (UK)
Trustees and Trust Inforniation
Year ended 31 Decernber 2024
Registered ctLarity name
Ismaili Trust (UK)
Charity reglstration number
326272
Trustees
Mr N Kassam
Mr N Jivraj
Mr M Esmail (resigned 29 January 2024)
Ms AB Nasser (appointed 29 lanuary 2024)
Prlnclpal Offlce
Ismaili Centre
1-7 Cromwell Gardens
South Kensington
London
SW7 2SL
Independent Audltors
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE

Ismaili Trust (UK)
Report of the Trustees
Year ended 31 December 2024
The trustees present their report and the audited financial statements of the charity for the year ended
31 December 2024.
Structure, governance and management
l. Legal status and Governfng document
The organisation is a charitsble trust, registered as a charity on 30 March 1983 and is constituted under
a trust deed dated 30 December 1982.
2. Appointment
The trustees who held office during the financial year and at the date of this report are set oul on page
2. The trustees are appointed in accordance with the rules set out in the Trust deed.
3. Inductlon and Training
New trustees appointed during the year undergo orientation to brief them on their legal obligations
under charity, the decision-making processes, the objectives and strategies, and recent financial
perfonnance of the Trust.
4. Organtsatton
The Board ofTrustees is responsible for the overall strategy and direction of the Charity. The t￿SteeS
give theirtime on a voluntary and unpaid basis. The Board of Trustees corresponds and meets regularly
to manage and guide the day to day running of Trust.
5. Rlsk Management
The trustees have examined the principal areas of Trust's operations and have considered the rnajor
risks that could arise in these areas. In the opinion of the trustees, the Trust has appropriate procedures
in place, which provide reasonable assurance that any risks are mitigated to an acceptsble level. There
are therefore no major risks which could have a significant effect on the charity's activities.
6. Interests of Board of Trustees
No trustees had, at any time during the year, any interests in the Trust which are required to be
disclosed in this reporL
Oblectives and activities
The objectives of the charity as set out in its Trust Deed is to work for the benefit of the Ismaili
Community and in particular for the relief of poverty and advancement of education.
The charity also aims to support members of the communityat the time of bereavemenL Due regard
has been given to the public benefit guidance issued by the Charity Commission.

Ismaflfi Triist (UEQ
Report of the Trustees
Year ended 31 December 2024
Achievements and performance
The charity has met all its financial COTnmitrnents.
Financial revlew
In the trustees, opinion. there are adequate assets available to fulfil the obligations of Ismaili Trust
(UK).
A summary of the result of Ismaili Trust (UK)'s actI￿tieS durlng the year is given in the Statement of
Financial Activities on page 10. During the year total income of the charity amounted to £63,235 (2023:
£117,060). all being income from rent and interesL
The total funds at 31 December 2024 were £2.800,464 (2023: £2,754,018), all of which were
unrestricted funds.
Reserves policy
The trustees have reviewed the reserves of the group and whilst they currendy show unrestricted
funds of £2,800,464 they consider their free reserves (notably cash at bank) to be £356,775. The
trustees will be supporting the development of the burial site within its subsidiary and further funds
required for development will be raised via donations from the community. As such the trustees feel the
current level of free reserves to be reasonable.
Plans for future perlods
The trustees have from time to tlme deliberated on the need for further burial grounds for use by the
community in view of its growing population and have been seeking opportunities to acquire suitsble
sites. Following a rigorous search, the trustees were able to identify such a site during 2020 at Farnham
Park Cemetery and, completed the 2CqUl%ltion in October 2020 using its wholly owned subsidiary
Farnham Cemetery Ltd. The charitys subsidiary is looking to initially develop a burial ground on part of
the site and will then review Options for the remainder of the land.
The Charity received donations frorn either individual members of the community and/or their
corporate entities to facilitate this acquisition.

Ismaili Trust (UKJ
Report of the Trustees
Year ended 31 December 2024
Trustees. responsibility and internal control
Law applicable to charities requires the trustees to prepare financial statements, which give a true and
fair view of the state of affairs ofthe Trust at the end of the financial year and of its incoming resources
and application of resources for the year then ended. In doing so, the trustees are required to:
Select suitable accounting policies and then apply them consistendy
Make judgements and estimates that are reasonable and prudent
Prepare the financial statements on a going concern basis unless it becomes inappropriate to
presume that the Trust will continue in the foreseeable future
stste whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements
The Trustees have overall responsibility for ensuring that the Trust has appropriate systems of internal
controls, financial and otherwise. They are also responsible for keeping proper accounting records,
which disclose with reasonable accuracy at any time the financial position of the Trust, and enable them
to ensure that the financial statements comply with the Charities Act 2011. They are also responsible
for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities and to provide reasonable assurance that:
The Trust is operating efficiently and effectively;
Its assets are safeguarded against unauthorised use or disposition;
Proper records are maintained and the financial information used within the Trust is reliable; and
The Trust complie5 with relevant laws and regulations.
Auditors
A resolution to re-appoint Saffery LLP will be submitted to the Annual General Meeting,
The trustees, annual report was approved on .
trustees by:
. and signed on behalf of the board of
Mr N Kassam
Trustee
Mr N Jivraj
Trustee
Ms AB Nasser
Trustee

Ismaili Trust (UK)
Independent Auditorfs Report to the Trustees
Opinion
We have audited the financial statements of Ismaili Trust (UIQ (the 'parent charity) and its subsidiary
(the 'grDUP? for the year ended 31 December 2024 which comprise the consolidated statement of
financial activities, balance sheets, consolidated cash flow statement and notes to the financial
statements, including 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 Republi
of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the flnancial statements:
give a true and fair view of the state of the group and parent chariws affairs as at 31 December
2024 and ofthe group's and the parent chariws incoming resources and application of resour￿$
for the year then ended;
have been properly prepared in accordance with United Kingdorn 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) (ISL% (UK)) and
applicable law. Our responsibilities under those standards are further described in the Audltor's
responsibilities for the audit of the financial staternents section of our reporL We are independent of
the group and parent 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 ethiLal 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.
Concluslons relatlng to going concern
In auditing the financial ststernents, we have conduded that the tnistees, use of the going concern basls
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 collectivelyi may cast significant doubt on the group or the
parent charitys ability to continue as 2 going concern for a period of at least twelve months from when
the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees respect to going concern are described
in the relevant sections of this reporL
Other information
The trustees are responsible for the other infonnation. The other information comprises the
inforniation induded in the annual reporL other than the financial ststements and our auditorfs 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 fonn of assurance conclusion
thereon.

Ismaili Trust (UK)
IndependentAuditoffs Report to the Tntstees (contlnued)
Our responsibility is to read the other information and. in doÉng so, consider whether the other
information is materially inconsistentwith the financial statements or our knowledge obtained in the
course of the audit or otherwise appear5 to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this gives
rise to a material misstatement in the financial statements themselves. 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.
Matters on which we are required to report by exceptlon
We have nothing to report in respect of the following matters in relation to which the Charities
(Accounts and Reports) Regulations 2008 require u5 to report toyou if, in our opinion:
the infOrn￿tiOn given in the Tru5tees' Annual Report is inconsistent in any rnaterlal respect with
the financial statements; or
the parent charity has not kept sufficient accounting records; or
the parent charitys financial statements are not in agreement with the accounting records and
returns; or
we have not received all the information and explanatlons we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement set out on page 5, the trustees are
responsible for the preparation of thc 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 misstatemenL whether due to fraud or
error.
In preparing the financial statements, the trustees are responsible for assessing the group and the
parent chartWs ability to continue as a going concern, disclosing. as applicable, matters related to going
concern and using the going concern basis ofaccounting unless the trustees either intend to liquidate
the group or the parent charity or to cease operations, or have no realistic alternative but to do so.
Auditor< responsfibilities for the audit of the financlal statements
We have been appointed as auditors under the Charities Act 2011 and report in accordance with
re8ulations made under that Act.
Our objectives are to obtain reasonable assurance aboutwhether the group and parent financial
Statements as a whole are free from material misstatement. whether due to fraud or error, and to issue
an auditols report that includes our opinion. Reasonable assurance is a high level of assurance. but is
not a guarantee that an audit condurted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. ivlisstatements 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 fi'nancial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, including fraud. The specific procedures for this engagement and the extent to which
these are capable of detecting irregularities, including fraud are detailed below.

Ismaili Trust (UK)
Independent Auditovs Report to the Trustees (continued)
Identifying and assessing risks related to :rregularities:
We assessed the susceptibility of the group and parent charl￿5 financial statements to material
misstatement and how fraud might occur, including through discussions with the trustees, discussions
within our audit team planning meeting, updating our record of internal controls and ensuring these
controls operated as intended. We evalu2ced possible incentives and opportunities for fraudulent
manipulation of the financial ststernents. We identified laws and regulations that are of significance in
the context of the group and parent charity by discussions with trustees and updating our
understanding of the sector in which the (yroup and parent charity operate.
Laws and regulations of direct significance in the context of the group and parent charity include the
Charities Act 2011. the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the
Charity Commission for England and Wales.
Audit response to risks identified:
We considered the extent ofcornpliance with these laws and regulations as part of our audit procedures
on the related financial statement items including a review of financial statement disclosures. We
reviewed the parent chariws records of breaches of laws and regulations, minutes of meetings and
correspondence with relevant authorities to identify potential material misstatements arising. We
discussed the parent charitys policies and procedures for compliance with Laws and regulations with
members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key
areas which might involve non-compliance with laws and regulations or fraud. We enquired of
management whether they were aware of any instances of non-compliance with laws and regulations
or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through
management override of controls by testing the appropriateness of journal entries and identifying any
significant transactions that were unusual or outside the nornial course of business. We assessed
whether judgements made in making accounting estimates gave rise to a possible indication of
management bias. At the completion stsge of the audit, the engagement partner's review included
ensuring that the team had approached their work with appropriate professional scepticism and thus
the capacity to identify non-compliance w'ith laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transaction5 reflected in the financial
statements, the less likely we would become aware of it. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through
collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
. This description forms part of our auditor's reporL

Ismaili Trust (UIQ
Independent Audito￿$ Report to the Trustees (continued)
Use of our report
This report is made solely to the parent chariws trustees, as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we
might state to the p2rent charity trustees those matters we are required to state to them in an auditor's
report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibllity to anyone other than the parent charity and the parent charitys trustees as a body. for
our audit worL for this report, or for the opinions we have formed.
Sol4 LLP
Saffery LLP
Chartered Accountants
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
Date: 1 July 2025
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Isn￿]11 Trust (UK)
Consolfdated Statement of Finanaal Activities (including Income and Expenditure account)
For the year ended 31 December 2024
Unrestricted
nds
2024
Restricted
funds
2024
Total
Funds
2024
Total
Funds
2023
Notes
Income
Donations
Investment Income
Other income
60,000
10,260
46,800
15,552
47,683
15,552
47,683
Total income
63,235
63,235
117.060
Expendlture
Governance costs
16,789
16,789
15,322
Total expendlture
16,789
16,789
15,322
Net income
46,446
46,446
101,738
Reconciliation of funds:
Total funds brought forward
2,754,018
2,754,018
2,652,280
2,800,464
2,800,464
2,754,018
Total funds carrfed forward
The notes and accounting policies on pages 13 to 22 form part of these accounts.
10

Ismaili Trust (UK)
Balance Sheets at 31 December 2024
2024
Charity
2023
Charity
Group
Group
Notes
Fixed assets
Tangible fixed assets
Investments
3.059.569
141,885
loo
141,985
2,778,430
141,885
loo
141,985
3.059.569
2,778,430
Current assets
Cash at bank and in hand
Debtor5
356,775
39,104
350,621
2,671,660
467,328
1,223
342,417
2,482,292
10
395.879
3,022,281
468,551
2,824,709
Creditors: Amounts falling
due within one year
11
654,984
2,670
492,963
2.590
Net current (liabilitles) /
assets
(259,105)
3,019,611
(24,412)
2,822,119
Total assets less current
liabilities
2,800,464
3,161,596
2,754,018
2,964,104
Funds
Unrestricted funds
12
2.800,464
3,161,596
2,754,018
2,964,104
Total funds
13
2,800,464
3,161,596
2,754,018
2,964,104
Approved by the Board of Trustees on
and
igne
on its behalf
Mr N Kassam
Mr N Jivraj
Ms AB Nasser
Charity number: 326272
The notes and accounting policies on pages 13 to 22 form part of these accounts.
11

Ismaili Trust (UK)
Consolidated cash flow statement
Year ended 31 December 2024
Notes
2024
20Z3
Net cash provided by operating
activities
15
170,586
84,997
Cash flows from investing
activities:
Purchase ofpropety, plantand
equipment
Net cash used in investing
actI￿tieS
(281,139)
(161,077)
(281,139)
(161,077)
Change in cash and cash equivalents
in the reporting period
(110.553)
(76,080)
Cash and cash equivalents at the
beginning of the reporting period
467,328
543,408
Cash and cash equlvalents at the
end of the reporting period
16
356,775
467.328
12

Isn￿111 Trust (UIQ
Notes to the accounts
Year ended 31 December 2024
Accounting policies
Basis of preparation
These finanaal statements have been prepared in compliance with FRS 102, 'The Finanaal
Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of
Recornmended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) Cthrities
SORP (FRS 102)) and the Charities Act 2011.
Ismaili Trust (UK) constitutes a public benefit entity as defined by FRSIO2.
The trustees consider that there are no material uncertainties about the Charl￿S ability to
continue as 3 going concern.
Consolidation
These accounts present the results of the Charity and its wholly owned subsidiary Farnham
Cemetery Limited. The Charity has taken advantage of the exemption under section 135 of
Charities Act 2011. not to publish its own Ststement of Financial Actlvities. The Charity made a
surplus for the ftnancial year of £197,493 (2023: £230,604).
Investments
Investments are stated at historical cost less provision for any diminution in value.
Fund Accounting
Unrestricted funds are avallable for use at the dfiscretlon of the trustees to further any of the
charity's purposes.
Designated fund5 are unrestricted funds earniarked by the trustees for particular ￿tUre projert
or commitmenL
Restricted funds are subjected to restrirtions on their expenditure declared by the donor or
through the ternis of an appeal. and fall into one of two sub-classes: restricted income funds or
endowment funds.
Fixed Assets
Tangj'ble assets are initially recorded at cost, and subsequently stated at cost less any
accurnulated depreciation and impairmentlosses. Any tangible assets Carried at revalued
amounts are recorded at the frdir value at the date of revaluation less any subsequent
accumulated depreciation and subsequentaccumulated impairmentlosses.
13

Ismaili Trust (UK)
Notes to the accounts (continued)
Year ended 31 December 2024
Fixed Assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in
other recognised gains and losses, unless it reverses a charge for impairn]ent that has
previously been recognised as expenditure within the statement of financial activities. A
decrease in the carrying amount of an asset as a result of revaluation, is recognised in other
recognised gains and losses, except to which it offsets any previous revaluation gain. in which
case the loss is shown within other recognised gains and losses on the statsment of financial
activities.
EmpaÉrnient offixed assets
A rev?ew for indicators of impairment is carried out at each reporting date, with the
recoverable amount being estimated where such indicators exist. Where the carrying value
exceeds the recoverable amount, the asset is impaired accordingly. Prlor impairments are also
reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cash-
generating unit to which the asset belongs. The cash-generating unit is the srnallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of
the cash inflows from other assets or groups of assets.
For imp2iment testing of goodwill, the goodTMII acquired in a business combination is, from
the acquisition date, allocated to each of the cash-generating units that are expected to benefit
from the £ynergie.s of the cornbinatiopirrespective of whether other assets or liabilities of the
charity are assigned to those units.
Incoming Resources
All incoming resources are included in the statement of financial activities when entltlement
has passed to the charlty; It Is probable that the economic benefits associated with the
transaction will flow to the charity and the amount can be reliably measured. The following
specific policies are applied to particular categories of Income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift receipt is probable and its amount can be measured reliably.
legacy incorne is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the
donor or the estimatrd resale value. Donated Facilities and Services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
Income from contracts for the supply of services is recognised with the delivery of the
contracted Se￿ICe. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspen¢ in which
rase it may be regarded as restrictecL
14

Ismaili Trust (UK)
Notes to the accounts (continued)
Year ended 31 December 2024
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure incEudes
any VAT which cannot be fully recovered and is classified under headings of the statetnent of
financial activities to which it relates:
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charit2ble trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries. including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitsble activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are
apportioned between the activities they contribute to on a reasonable, justifiable and
consistent basis.
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand 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.
1.10 Financial instruments
A financial asset or a financial liability is recognised only when the tharity becomes a party to
the contractual provisions of the instrumenL
Basic financial instruments are initially recognised at the amount receivable or payable
including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at arnortised cost
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably. the investment is subsequendy measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequendy measured
at cost less impairn]enL
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond nonnal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the fu￿re
payments discounted at a market rate of interest for a similar debt instrument
15

Isn￿111 Trust (UK)
Notes to the accounts (continued)
Year ended 31 December 2024
1.10 Financial instruments (continued)
Other financial instruments are subsequendy measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in
a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective
evidence of impairment at the end of each reporting date. If there is objective evidence of
impairnient. an impairment loss is recognised under the appropriate heading in the
statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairn]ent. Other financial
assets are either assessed individually or grouped on the basis of similar credit risk
chararteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal
does not result in a carrying amount of the fjnancial asset that exceeds what the carrying
amount would have been had the impairment not previously been recognised.
1.11 Critical estimate and judgements and key sources of estimatlon uncertalnty
In the application of the Charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that
are not readily apparent from other sources. The estimates are recognised in the period in
which the estimate is revised where the revision affects only that period, or in the period of the
revision and future periods where the revision effects both current and future periods.
Donations and legacies
Unrestricted
funds
Restricted
funds
Total
funds
2024
Total
funds
2023
Donations
Gift aid donations
60,000
60,000
16

Ismaili Trust (UKJ
Notes to the accounts (continued)
Year ended 31 December 2024
Other income
2024
2023
Rental income
47,683
47,683
46.800
46,800
Analysis of total resources expended
Current year
Other
dirert
costs
Staff
Costs
Support
costs
Total
2024
Grants
Governance
16,789
16,789
Total resources expended
16,789
16,789
Prior Year
Other
direct
costs
Staff
costs
Support
costs
Total
2023
Grants
Governance
15,322
15,322
Total resources expended
15,322
15,322
Allocation of support costs
Current year
2024
2023
Bank charges
Governance costs:
Insurance
572
271
427
15,790
Auditond accountunLy
15,051
16,789
15,322
Staff costs
The average numbers of employees during the year was nil (2023: nilj.
17

Ismaili Trust (UIQ
Notes to the accounts (continued]
Year ended 31 December 2024
Trustee￿ remuneration
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.
Tanglble fixed assets - Group
Long
leasehold
property
Freehold
property
Total
Cost or valuatlon
At I Ianuary 2024
Additions
At 31 December 2024
2,758,905
281.139
3,040,044
19,525
2,778,430
281,139
3,059,569
19,525
Depreciation
At l January 2024 and 31 December
2024
Net book value
31 December 2024
3,040,044
19.525
3,059,569
31 December 2023
2,758,905
19,525
2,778,430
Charity
Lon
leasehold
property
Freehold
property
Total
Cost or valuation
At I January 2024
Additions
At 31 December 2024
122,360
19,525
141,885
122,360
19.525
141,885
Depreciation
At l January 2024 and 31 December
2024
Net book value
31 December 2024
122.360
19,525
141.885
31 December 2023
122.360
19,525
141,885
18

Isrnaili Trust (UIQ
Notes to the accounts (continued)
Year ended 31 December 2024
Investments
Movement in value:
2024
2023
Group
Charity
Group
Charity
Cost at 31 December 2024
loo
100
Historical cost at 31 December
loo
100
2024
The charity owns 100 % of the issued share capital of Farnham Cemetery Limited, a company
registered in England and Wales (12846190).
The subsidiary undertaking. Farnham Cemetery Limited is involved in the development of
building projects.
A summary of the subsidiary undertaking results for the year is given below:
2024
2023
Gross income
51,225
49,899
Gross expenditure (excluding gift aided profits to charity)
(202,272)
(178,765)
Net deficit before donating profits to charity
(151,047)
(128,866)
At the balance sheet date the aggregate share capital and overdrawn reserves cf the subsidiary
undertaking stood at £361,032 [2023: £209,985).
10
Debtors
2024
2023
Group
Group
Charity
Charity
Amounts owed by group undertakings
VAT recoverable
Other debtors
2,671,660
2.482.292
37,784
1,320
1,223
39,104
2,671,660
1.223
2.482.292
19

Ismaili Trust (UK)
Notes to the accounts (continued)
Year ended 31 December 20Z4
11
Creditors
2024
Group
2023
Charity
Group
Charity
Amounts due within one year:
Accruals
Other creditors
13,245
641,739
2.670
13,855
479,108
2,590
654,984
2,670
492,963
2,590
12
Unrestrirted income funds
Group
Current year
Balance at
I lanuary
Losses on
revaluation
Balance at
31
December
2024
Incoming
Outgoing
2024
resources
Resources
/Transfers
General ￿ndS
2,754,018
63,235
16,789
(16,789)
2,800,464
2,754,018
63,235
2,800,464
Prioryear
Balance at
I lanuary
Losses on
revaluation
Balance at
31
December
2023
Incoming
Outgoing
2023
resources
Resources
/Transfers
General funds
2,652,280
2.652,280
117,060
117,060
15.322
2,754,018
(15,322)
2,754,018
Charity
Current year
Balance at
I lanuary
Losses on
revaluatlon
Balance at
31
December
2024
Incoming
Outgoing
2024
resources
Resources
/Transfers
General funds
2,964,104
201,378
3,886
(3,886)
3,161,596
2,964.104
201.378
3.161.596
20

Ismaili Trust (UK)
Note5 to the accounts (continued)
Year ended 31 December 2024
12
Unrestricted income funds (continued)
Prioryear
Balance at
I lanuary
Losses on
revaluation
Balance at
31
December
2023
Incoming
Outgoing
2023
resources
Resources
/Transfers
General funds
2.733,499
2,733,499
233,439
2,834
2,964,104
233,439
C2,834)
2,964,104
13
Analysis of net assets between funds
Funds balances are represented by:
Group
Unrestrirted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Tangible fixed a55ets
Net current assets
3,059,569
(259,105)
3,059.569
C259,105)
2,778,430
(24,412)
2,800,464
2,800,464
2,754,018
Charity
Unrestrirted
funds
2024
Restricted
funds
2024
Total
funds
2024
Tot21
funds
2023
Tangible fixed assets
Fixed asset
investments
Net current assets
141,885
loo
141,885
100
141,885
loo
3,019,611
3,019,611
2,822,119
3,161,596
3,161,596
2,964,104
14
Taxation
Ismaili Trust (UK) is a registered charity and can claim exemption from Corporation Tax on
income and gains which are applied for charitable purposes under section 505, Income and
Corporation Taxes Act 1988.
The subsidiary company is subject to Corporation tax.
21

Ismaili Trust (UK)
Notes to the accounts (continued)
Year ended 31 December 2024
15
Reconclliation of net income to net cash flow from operatlng acttvltles
2024
2023
Net income for the reporting perlod (as per
the ststement of financial activities)
Clncrease) / Decrease in debtors
Increase / (Decrease) in creditors
46,446
101,738
(37,881)
162,021
21,086
(37,827)
Net cash Inflow from operatlng acttvlty
170.586
84,997
16
Analysls of changes In net debt
Balance at
I lanuary
2024
Balance at
31 December
2024
Cash flows
Cash in hand
467,328
110,553
3S6,775
467,328
CIIO,553)
356,775
22