ISLAMIC ACADEMY OF SCOTLAND FINANCIAL STATE.MEN'I'S FOR TIIE YEAR EINI)ED 31 I￿larCh 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 PollO￿hle1ds Glasgo G41 ?NL Charity Nutnber: SC031419 [sL￿MIc 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 I1￿1r ryrt ar..d financial of tr,e c.-.2nty foT "J]= year ¢Tth 31 Marcr 20?5. Tbe financLÉI statcmenls teen prepared in at￿rd￿nce Lhe acc(￿￿￿?￿g poliaes se:. oa In Jwfe I lo the accowi15 and COJiJply with Ihe Gr￿traI Assembly Regulations for Congreganniat Fina.-.¢e. Ihe Charitie5 .' ijstee Inveskne.-.I Iswlandl Act ti￿5, th¢ Cb.wilits Accounts Iscoilanal Regu]alions 2006 las arAttll wyj ACCO￿ll￿ng and RewTting iy Ch8ririts.' 8:aremeni of RecoTnThended kn.ct applieatAe tts chan-..e5 prepL-.ryg t￿l.- 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 Re8tsl*or as ¢n Educ*.ion Endowmeni Dunn8 ihe Itnancia] Jtar to 31* MarcrL I￿2￿. 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 reli￿0￿ aNI in er￿ce rot ￿ wffj*rrecilatim of Quran and Al-Hadith 4nd their 2. E*ablishmerti of supplern¢r¢ary cIas%ts and ￿lT[la￿ centyes (VaJ¥as's) al￿ Eacking Tlie 3. The issuc of a rulga￿n￿&ryd ￿r￿liCal$ ¢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 cOntsi￿ng Iwks in variousknguageg 6 To p.-owde fac'"lities for S#l*h 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 th￿￿5. 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 0fTrUs￿oI Iri.l~fi)KJ.It)iL iiiih Ihc ii)n4111iiiion niaxirfvni t1￿mIXT0f 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¢T￿nIS 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¢$ourcL¥ and 2ppI￿all0) ol. i¥soufe4%. 01. Ihi iliiinii forihiiE In prepu￿8 thc fJn*RcJal ¥ntsic¢s arc fLgttJl4-d geleLt %uiiAble accoun(1n￿ rA)lici￿ #Trj thcn ap￿Y I￿,M cons1￿cni1}." IbsQne iljt mèthod snd pnncJpl¢% in ihc Jpplicoblc CIIiiiiics SORP. niakc JudgTrLiTrien15 and eiiiiiialu% Ihal arc rLYsonJbIk aiid piii&'iil. iJic pplicablt llrcoli￿{i￿0 5141no'aTds and.%twcn￿t￿t ol1¢r￿￿£nd¢d praciict h41c bLYn folknii'i￿.-¢% A¢coini< ISL-Dll4iiJl ReLLIL)Iions ?noi) Jn)eiidLdl Jnd Ilie pri)¥ISIOI1 -h.)nii F cn.n%littiiii)D ThL*' Irc .Il 711 711 -4 81LII'I i.$: 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 Re￿rtIng 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 expendIt￿re 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. Desi￿ated fitnds comprik unrestrirt¢d fvn(ts thai have b¢¢n set aside by the Trustees for partieul8r purposes. The aim and use of each d￿ignated fund is set out in the notes to the financial ststements. Restricted fi￿dS are fvnds which are to be used in accordance I￿t￿ specific restrictions imposed by don0￿ or which have beeR raised bi the charity for particular purposes. The cost of raising and administering these fi￿d5 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 Desi￿ated 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