ISLAMIC ACADEMY OF SCOTLAND FINANCIAL STATE.MEN'I'S FOR TIIE YEAR EINI)ED 31 IlarCh 2025
ISLAMIC ACADEMY OF SCOTLAND INDEX TO THE FINANCIAL STATE]WENTS FOR THE YEAR ENDED 31 March 2025 Charitv Information Report of the Trustees AccountAnts Report Income & Expenditure Aeeount Balanee Sheet Notes to the Financial Statements 9-12
ISLIkn)IIC ACADEMY OF SCOTLANT IYFORIL IAT10, FOR THE YEAR F,NDED 31 Illar¢h 2025 Trusteu: Account&nts: KAJavid&Co Javid House I I f Bath Sireet Glasgciw G2 2SZ Independent Examiner Avid Accountants 21 Blythswood Square Glasgow G2 4BL Address= Bankers: Bank of Scotland 236 Albert Drive PollOhle1ds Glasgo G41 ?NL Charity Nutnber: SC031419
[sLMIc ACADEMY OF SCOTLAND RF.PORT OF THE TRIISTEES FOR THE I'E.4R ENDF.D 31 March 2025 Trusttt.i of the lslftmit .4cadem of Scotland The trist wtseijt I11r ryrt ar..d financial of tr,e c.-.2nty foT "J]= year ¢Tth 31 Marcr 20?5. Tbe financLÉI statcmenls teen prepared in atrdnce Lhe acc(?g poliaes se:. oa In Jwfe I lo the accowi15 and COJiJply with Ihe GrtraI Assembly Regulations for Congreganniat Fina.-.¢e. Ihe Charitie5 .' ijstee Inveskne.-.I Iswlandl Act ti5, th¢ Cb.wilits Accounts Iscoilanal Regu]alions 2006 las arAttll wyj ACCOllng and RewTting iy Ch8ririts.' 8:aremeni of RecoTnThended kn.ct applieatAe tts chan-..e5 prepL-.ryg tl.- accounts w.th -the Financial R¢portiRg Standaid applicable'n the UK Republtc o". tKelaDd publi5P,¢d on 16 July 2014_ Th¢ Islarnic Academy of scotlaJ 15 TrgE4keTd wih Oftt of Sfotti5h Chanty Re8tslor as ¢n Educ.ion Endowmeni Dunn8 ihe Itnancia] Jtar to 31 MarcrL I2. cheTrustees were 85 follows.. Ob-eclivts Rd AclÉTrilies The aÉins ar.d obJ"ectiNE5 of the Islamic Athy of ScotlaTh4 ate.. l. To &dv•nteihe Isjamic reli0 aNI in erce rot wffjrrecilatim of Quran and Al-Hadith 4nd their 2. Eablishmerti of supplern¢r¢ary cIas%ts and lT[la centyes (VaJ¥as's) al Eacking Tlie 3. The issuc of a rulgan&ryd rliCal$ ¢ontsiniLlg ariC]ts 211 subjects of151aTLC iniEresLg. thoughtand 4. To prowde skmic kctures of s¢hOl in various J4n8uage S. Estab&iShment ofztL 15Jamie libr2ry cOntsing Iwks in variousknguageg 6 To p.-owde fac'"lities for S#lh in plxts where there no n)visi¢n by huldtng a mosque or lth%ir.g PTOFeVty 7. To provide sen4ces -eknr,g lo mamw *d th5. de2th& birth of ch:.1¢ and other 1s18tni¢ I¢1P1£ 8. The tr8nsktion of athtic Isknic wrrk8 illxp Eylish.
Isi ,ifiiic' _,Ic,
DEllIF' or.SCOT? .IFID
RCPC)II'I' (>F"I'll p. -fRLiS-rEcs
FOII THF. I'k.,tR ENDED 31 illJrch ?0?£
TIIL. Pl'.Iliiiial nt ineethe r(>r t1 il¥mtv lur thr !ViT c[¢(1.77 Mdr¢h ?nlti li1 dLllIL frvm fic% Jnd coll..XllDB
RL'.%L)-%-i> Pt)lit)'
Th.. .-l%Jiill Ll>rT 11. li.% .7 polic) Io in¥urc lh& IhLVC Jre iiiourh r¢s¢nr% lo cover tbe coft of Monthly,MInis1QlIL1 cfrii%
.%ir.)tlure. Gw'¢rnan¢¢ and
oinenl
.'Yllin• DDrumciiE
RICI'utln)cnt and.IppointmtDI 0fTrUsoI
Iri.l~fi)KJ.It)iL iiiih Ihc ii)n4111iiiion niaxirfvni t1mIXT0f shall bc 4 IFOUTI trusi¢¢% Jtvxnlid on a ljft rime
liiiiifi Ihc l¥Thign
.KctliQi'L'JIILSnls and Pcrforni2nco
'l-he £liJ."IEI. IrTLsTCK% JfL
po2siblE foi prLTrJiThg i Irusic¢s' aDntha aDd fironcwl 5131¢TnIS Irj JctOTdan¢b %vIth
aDp11cablL la%i' and Lpiii'.¢d KingOoryJ Jiccotrni]r.? Siaoth..L- {uliJib kinsdom GenctRllY.4ccLVIL..lCt0Ulli1Tr- PTa¥tK¥l
Th¢ 11%1 .'IpplikablL l(> ¢liii nii¢t in rLyuir¢.4 thi chariiy illl¥k 10 PT¢pare fiNn¢ial .4iaiimLqiLS for Coch I'ar ii.hkth
slinii. J Iriic and fJii 01. IIJL 8laiL' of affJir% ofihL chanTV and of lh¢ iDconins r¢$ourcL¥ and 2ppIall0) ol. i¥soufe4%. 01.
Ihi iliiinii forihiiE In prepu8 thc fJnRcJal ¥ntsic¢s arc fLgttJl4-d
geleLt %uiiAble accoun(1n rA)lici #Trj thcn apY I,M cons1cni1}."
IbsQne iljt mèthod snd pnncJpl¢% in ihc Jpplicoblc CIIiiiiics SORP.
niakc JudgTrLiTrien15 and eiiiiiialu% Ihal arc rLYsonJbIk aiid piii&'iil.
iJic pplicablt llrcoli{i0 5141no'aTds and.%twcntt ol1¢r£nd¢d praciict h41c bLYn folknii'i.-
I.qLAMIC ACADE,VY OF SCOTLILN'D REPORT OF THE ACCOL'NTA.NTS TO THF. TRUSI'EES OF ISLAMIC ACADEMY OF SCOTLAND FOR THF, YEAR ENDF.D 31 March 2025 We reFrt)rt on the financial Statements lor the etKled i l Nlarch 2025 set out on pages 6 & 7. The Charitv's Trustees are SPonSIble for th¢ preptIOn of the financial Sfatement5 in aCcxjrdan the ternis of the Charities and TrtLStees Investmcni Iscotland) Act 2005 and t]ie Charities Accuunrs (Scotland) ReQuIlO[L$ 2006. The Charif). Trustees consider that the audit rcquirement of Regu]ation 10(l) of thc Aecounis RegUl10S does not apply. It is our res]x)nsibilitv to exatniiie the aCCotS tts required uJ)der seetion 44(1 l (cl of the Acl and to stare wheiher panicul8r matters have corne to our irtentio Basis of independent examiner's Statement Our examination is canied out in accordance with Regulation 11 of the Ch1t]eS Accounts IS¢otland) Regulations 2006. An examination includes a review of the accountinq reeords kept by the charity 2nd a Comparison of the accounls presentrd with those tEcords. li also includes consideration of any untsguai iiems or disclosures iri th¢ acLounlS. and vk5 explanation from the trUeeS concerning any such mallers. The pro¢edurcs undertak¢n do not wovide all th¢ evidence that would be requireii in an audi( and CODsequently E do not express an audit opinion and th¢ vilv givcn by tk ac¢ount& Independent examilber's statement In the course of my examinatioty no matter h&p come to my alltion. whicli EIVCS us re&50nable caiEe to believe that maierial respccts the requirements.. lo kc¢p aLZOUI)tin£ rtt¢uriLs in aLcurdance iiith Seciion 44(1 l (al ot the 2005 Act and Regulation 4 of the 21)06 Accounts RcgulatiorL& and to prepare accounts which accord with the accounting Jteords and comply with reglilation 9 of the 2006 Accounts Re8ul81ions have Tt been mei. or b) to K*hich, in our opinioo attcntion 5knuld it drawn in Qrikr to enable a proper understsnding of the accounts to be rvached. Dated- 26-Dcc-25 21 Bli¢hswood Square Glasgow G2 4BL
ISLAMIC ACADEMY OF SCOTLAI¥D INCOI¥IE & EXPENDITURE ACCOUNT FOR THE YEAR ENDED JI March 2025 2,025 Restricted Funds 2,024 Tot¥LI Funds Notes Lrtrestricte d Funds Total Funds Receipts Fees & Collections 18.025 18.025 42,237 Donations 137,096 137.096 281.314 Other IncoTne 329,832 Total In¢otning Resourccs 155,121 155.121 6)3,383 Payments Charitable Expenditure 135.710 135.710 180.547 Support Costs .500.00 1,500 1.500.00 Total Resources Expcnded 137.210 137.210 182,047 Net incoming resources (resources expended) before transfers 17.911 17,911 471,337 Net movement in fndS 17,911 17,911 471,337 Funds at 1st April 848.290 848.290 376.954 Funds at 31 st March 866.201 866,201 848.290
ISI,.IIWIIC FICADr[], or SCnTI.AND BIILANI CE S14EET ,IS ..IT 31 Nliirch 2U2i 207 Restricted Fund 21124 L.nre*trictod Total Funcls -rola1 Funds 1.011,749 l.n33.149 i.ni6,781 ',xl., il Bank :IllLI iii Hand 19.577 19,%77 10,()? I .Oi3.J16 i.ns3,3?6 I.OX7.40J l+&.IB!LETIFS- Aiiiounls fallin2 due i%'ilhin 10,?on i o.?00 14.76£ P.,41't & Nl -149 Ililkni L rLdsior> 711 711 -4 81LII'I i.$: Amount5 fallTng diie after iiioi-tr rliTh one l'ear LoJi1 Pil I'abli 180.non 180,noo 2?4.000 866,200 866.?00 848,289 i).- 5[l.[cl¢{l filnds 866.700 866.)011 848.?90
t)t611 f 866,?00 866,200 848.789 -. ITianLiJl st'iteinints. on pagcs 7 & 8 w-rc approved on bchalf of the Tnistees aiid siiyncd on their bLlial*- Dated-
ISLAMIC ACADEMY OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS AS.4T31 March 2025 AccouiwfI.NG POLICIES The financial statements have been prepared under the HistorieaI Cosi Convention and in aecord2nce with the Statement of Recommended Practice (SORP) "Aceounting and RertIng by Charities" and the Charities Accounts (Scotland) Regulations 1992. Income Income ss credited to the financial statements in the year in which it is receivable and is shown Erts of tax. b. Capital expendItre Expenditure on land and building owned by the charity are capitalised. Expenditure on other assets are ivritten off irA ihe year in which it is incurred. e. Depreciation Depreciation has becn provided at the following rates in order to writc off the assets over their cstimated usefijl life. Land & Building 2 /0 Straight Line d. Fund accounting General fijnds air unrestricted fund5 which are available for use at the di5cr¢tion of the Trustees in furtherantt of the general objectives of the charity and whith have not been des]bMat for other purposes. Desiated fitnds comprik unrestrirt¢d fvn(ts thai have b¢¢n set aside by the Trustees for partieul8r purposes. The aim and use of each dignated fund is set out in the notes to the financial ststements. Restricted fidS are fvnds which are to be used in accordance It specific restrictions imposed by don0 or which have beeR raised bi the charity for particular purposes. The cost of raising and administering these fid5 are charged against the specific fimds. The aim and of each restrictsd fund is set out in the notes to the financial 5tatemenis. Investrncnt income )d gains are allocated to th¢ appropriate fitnd. Trustee RetnurReratTon and Related Paty Transaetions No inetnbers of the trustee5 received any rernuncration during the year. Funds General [dS are unrestricted funds which are available for use at the discretton of the Trustee5 in furtherdnee of the general Desiated fi]nds comprise unrestricted funds that have been set astde by the for particular purposes. The aim and use of
ISLAMIC ACADEMY OF SCOTLLTh NOTES TO THE FINAf+4CIAL STATEMENTS AS AT31 Nlsrth 2025 Analysis of Collections 2,025 Restricted Funds 2,024 otes Unrestricled Funds Total Funds Tofal Funds Fees I CollectiorAS Grants 18,025 18,025 19.100 23.137 18.025 18.025 42,237 Analysis of Donations 2,02) Restricted FuDd5 2,024 'otes Ullrestricted Funds Total Funds Total Funds Donations Gift Aid 121592 15,504 121.592 15.504 281,314 127,096 lJ7.096 281,314 Analysis of Other Income 2,025 Re5ti-icted Fund5 2,024 Unre5ti-icted Funds Total Furtds Total Funds Profit on disposal of property 329,832 329 832 io
ISLAMIC ACADE.MY OF SCOTLAND INOTES TO THE FINANCIAL STATEMENTS AS AT 31 MArch 2025 Analysis of ChaTitable Expenditure 2,024 Lnre5tricted Funds Restiicted Funds Total Funds Total Funds Staff salaries Insurance Cleatting H6at & Light Stationery & Printing Telephone Advertisin8 Repairs & Maintenance Legal fe£s Bank Chargas Others Depreciation Charitable th)natiOT 35.016 5.373 2,709 29.357 35,016 5,373 2,709 29,357 31,610 2,437 6,029 17,979 212 1,207 1,267 96,375 199 48 1.357 1,357 1.136 36.396 719 36.396 719 285 285 23,032 331 23,032 331 23.032 150 135.710 135,710 180547 MANAGEMENf AND ADMD41STRATION COSTS 2,025 Restricted Funds 2,024 Lnrestritted Funds Total Funds Total Funds Accounts Fee .500 1,500 1,500 1.500 1,500 1.500
ISLAMIC ACADEMY OF SCOTLAND NOTES TO THE FINATr¥CIAL STATEMENTS AS AT31 March 21125 Fixed Asset$= Property Cost As at 0110412024 Additions Disposal 1,151 ¥88 As at 3110312025 1,151 £88 Depreeixtio As at 0110412024 Charge Disposal 94,807 23,032 As at 3110312025 117,839 Net Boolc Value As at i110312025 1.032,749 As at 0110412024 1.056,781 12