Aydya Charitable Trust Financial ststements for the year ended 30 June 2024 Charity number SC028845
Aydya Charitable Trust Contents Page Organisation and administration Trustees, report Statement of the Trustees, responsibilities Report of the independent examiner Statement of financial activities Balance sheet Notes to the financial statements 8-10
Aydya Charitable Trust Organisation and administration Trustees Office Gateway West, Luna Place Dundee Technology Park Dundee, DD2 1XF Independent examiner Henderson Loggie LLP The Vision Building 20 Greenmarket Dundee DD14QB Bankers The Royal Bank of Scotland plc 3 High Street Dundee DD19LY
Aydya Charitable Trust Trustees, report The Trustees have pleasure in submitting their Annual Report and financial statements for the year ended 30 June 2024. This report is prepared in accordance with the Constitution of the Charity, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102). Constitution The Trust was fomed by a Deed of Trust dated 11 March 1999. The Trust's goveming document is its Deed of Trust. Copies of the Deed of Trust are available on request. Legal and administrative infomiation The Trust changed its name on 5 May 2023 from The Medea Charitable Trust to Aydya Charitable Trust. Objectives and activities The objectives of the Trust are to hold and apply the Trust Fund for the benefit of or in furtherance of such purposes, objects or institutions charitable in law in such proportions or manner as the Trustees see fit. Trustees The Trustees at the date of this report and throughout the period are shown on page 1 . his power may be exercised to appoint Power to appoint new Trustees is vested wit Trustees who are not resident in the United Kingdom. Charitable ststus The Trust obtained charitable status on 17 March 1999 from Inland Revenue in Scotland. Scottish Charity Number SC028845. Organisational structure The administration of the Trust is the responsibility of the Trustees. Grant making policy The Trust receives applications from both individuals and institutions, in the United Kingdom and abroad. The charitable causes are reviewed by the Trustees, and awards made based upon those applications which the Trustees consider best meet the objectives of the Trust.
Aydya Charitable Trust Trustees, report (contlnued) Achievements and performance The Aydya Charitable Trust has, in the past year, made considerable progress in advancing its charitable purposes, consistent with the trustees, commitment to supporting good causes, furthering Islamic knowledge, and aiding underprivileged Muslim families. The Trust has successfully allocated funds towards a range of initiatives, including educational programs aimed at spreading Islamic knowledge, direct financial support to families in need, and collaborations with other organizations to maximize our impact. Our efforts have resulted in significant advancements in educational attainment among beneficiaries, Improved living conditions for several families, and an increased awareness of the importance of charity and community support within the Islamic faith. The financial stewardship exercised by the Trust ensures that the maximum possible resources are directed towards our charitable activities, reflecting our commitment to transparency, accountability, and the effective use of donations. The positive outcomes achieved this year underscore our dedication to making a meaningful difference in the lives of those we serve and the broader community. Financial review The results for the year are set out in the statement of financial activities on page 6. Income and expenditure is monitored in total and is compared with the approved plan on a regular basis to avoid unforeseen calls on reserves. Reserves policy The reserves of the Trust originate from onginal and subsequent revenue donations. The Trustees have adopted a reserves policy that ensures the continuing ability of the Trust to meet its objectives. The level of free reserves held at 30 June 2024 was £108,161 (2023- £28,446). Risk management The Trustees have considered and assessed the major risks to which the Trust is exposed and are satisfied that systems are in place to mitigate their exposure to any major risks. Trustee 26 March 2025
Aydya Charitable Trust Statement of the Trustees, responslbilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in Scotland 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 Trust and of the Income and expenditure of the Trust 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 Chanties 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 operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Trust and to enable it to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Trust's constitution. 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.
Aydya Charitable Trust Report of the Independent Examlner to the Trustees of Aydya Charitable Trust I report on the financial statements of the Trust for the year ended 30 June 2024 which are set out on pages 6 to 10. This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion set out below and for no other purpose, To the fullest extent permitted by law I do not accept or assume responsibility to anyone other than the Trustees, as a body, for my work or for this report, Respective responsibilities of the Trustees and Examiner The charity's Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. Basis of Independent Examinerfs Statement My examination is carried out in accordance with Regulatlon 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual Items or disclosures in the financial statements, and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently I do not express an audit opinion on the view given by the financial statements. Independent EXamineS Statement In the course of my examination, no matter has come to my attention: which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations, have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. For and on behalf of Henderson Loggie LLP Chartered Accountants The Vision Building 20 Greenmarket Dundee DD14QB 26 March 2025
Aydya Charitable Trust Statement of financial activities for the year ended 30 June 2024 2024 2023 Note Income Bank interest received Donations 854 197,639 284 131,325 Total income 198,493 131,609 Expenditure Charitable activities 118,778 142,634 Totsl expenditure (118,778) (142,634) Net expenditure 79,715 (11,025) Funds brought forward 28,446 39,471 Funds carried forward 108,161 28,446 All funds are unrestricted and all activities relate to conts'nuing operations.
Aydya Charitable Trust Balance sheet at 30 June 2024 2024 2023 Note Current assets Cash at bank and in hand Other debtors 111,277 16 30,558 726 111,293 31,284 Creditors Amounts falling due within one year. Sundry creditors (3,132) (2,838) Net current assets 108,161 28,446 Totsl assets less current liabllities 108,161 28,446 Funds Unrestricted fund 108,161 28,446 The notes on pages 8 to 10 form part of these financial statements. Approved by the Trustees on ?goi/u-and signed on its behalf by Trustee Trustee 26 March 2025 26 March 2025
Aydya Charitable Trust Notes to the financial statements Accounting policies Legal status Aydya Charitable Trust is a charity registered In Scotland The registered office Is Gateway West, Luna Place, Dundee Technology Park, Dundee, DD2 1XF. Basis of accounting The financial statements have been prepared under the histoncal cost convention and in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102), Accounting and Reporting by Charities. Statement of Recommended Practice applicable to chanties preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), also known as the Chanties SORP (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulation (as amended). The Trust constitutes a public benefit entity as defined by FRS 102. At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial ststements. 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 £. Income All income Is recognised once the Trust has entitlement to the income, it is probable that the income received and the amount of the income can be measured reliably Grants Grants compnse those paid in the accounting period and, when applicable, include grants payable in future accounting periods where there exists a legal obligation to make such payments. Expenditure and Irrecoverable VAT All expenditure Is accounted for on an accruals basis. All expenses including support costs and govemance costs are allocated or apportioned to the applicable expenditure headings. Irrecoverable VAT is included in the related expenditure. Charitable activities include expenditure associated with grant making. Governance costs Include those incurred in the governance of the Trust and Its assets and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated on a basls consistent with the use of resources. Debtors Other debtors are recognised at the settlement amount due, Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity from the date of acquisition or opening of the deposit or similar account.
Aydya Charitable Trust Notes to the financial statements (continued) Accounting policies (continued) Creditors Creditors are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discount. Critical accounting estimates and Judgements In the application of the Trust'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 and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are revised on an ongoing basis. Revisions to accounting estimates are recognised In the penod 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 affects both current and future periods. In prepanng these financial statements, the Trustees have made the following judgements Accruals are applied at the year end based upon known costs received post year end and the experien of the Trustees, Funds Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objectives of Aydya Charitable Trust. Charitsble activities 2024 2023 Grants payable UK charitable donations to organisations 14 beneficiaries (2023 ~ 15) 101,210 118,705 UK charitable donations to individuals 10 beneficiaries (2023 - 2) 11,000 1,370 Overseas aid to organisations- O beneficiary (2023- 1) Overseas aid to individuals - 10 beneficiaries (2023 - 10) 15,045 5,500 6,500 Totsl grants payable 117,710 141,620 Support costs Independent examination fees, including prior year under provision 1,068 1,014 118,778 142,634 No Trustees received any remuneration or expenses in either of the two years ended 30 June 2024, The Trust has no employees.
Aydya Cliaritable Trijst Notes to tlie flnanclal stateinents (coiitinued) Unrestricted funds 2024 2023 At 1 July 2023 Net expendilure in the year 28,446 79,715 39,471 (11,025) At 30 June 2024 108,161 28,446 Related parties re directors of Aydya Limited, Donations of £180,000 (2023 ~ £120,000) were received from Aydya Limited during Ihe year. Included within other creditors are amounts due to Aydya Limited In the year of £2,064 (2023- £1 ,824) for payment of the independent examination fees. Donations of £18,000 (2023- £12,000) were paid in year to 7 Grains Trust. During the year amounts due from Trustees amounted to £16 (2023- £726) 10