**Iqra Academy**
**Report and Financial statements**
**for the year ended 31 March 2025**
**Charity number: SC041986**
## **Iqra Academy**
||**Contents**||
|---|---|---|
|||**Page**|
|Charity information||**1**|
|Trustees' Annual Report||**2 - 4**|
|Accountant's Report||**5**|
|Statement of Financial Activities||**6**|
|Balance sheet||**7**|
|Notes to the Financial Statements||**8 - 12**|
## **Iqra Academy**
## **Legal and Administrative Information**
**Charity name** Iqra Academy **Charity registration number** SC041986 **Trustees Principal office** 10 East Suffolk Road Edinburgh EH16 5PH **Independent examiner** Amin & Co. Chartered Certified Accountants 32 St Andrews Road Glasgow G41 1PF **Bankers** Bank of Scotland 51 South Clerk Street Edinburgh EH8 9PP
**Page 1**
**Iqra Academy Trustees’ Annual Report For the year ended 31 March 2025**
The Trustees present their annual report and the financial statements of the charity for the year ended 31st March 2025.
## **Principal activity**
The Trustees serving during the year and since the period ended are detailed on page 1.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Iqra Academy is an unincorporated charity governed by its Constitution and overseen by the Trustees. **Appointment of Trustees**
The Trustees have been selected because of their experience and skills.
## **OBJECTIVES AND ACTIVITIES**
The objects of the Academy shall be:
- To promote the physical, intellectual, social moral and spiritual development of all members of the Muslim community and in particular of young people, through the provision of a broad range of educational, recreational and welfare opportunities; and
- To promote good relations in the interest of racial harmony and mutual respect between the Muslim community and all other communities thus enabling the Muslim community to participate in and contribute fully to all aspects of civic life
## **ACHIEVEMENTS AND PERFORMANCE**
During the year ended 31 March 2025, the Trustees continued to build upon the Academy’s established activities while introducing new initiatives to respond to emerging community needs.
The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarized below, provide benefits both to those who worship at our Mosque and the wider community of Edinburgh.
## **Religious activities**
In addition to regular prayers and established programmes, strengthening relationships with local residents, schools, and community organisations.
Our Mosque provides a centre for our prayers and worship and the activities associated with our faith. During the year under review, we offered a range of religious services and activities including Prayers. The Mosque is open all day for daily and Friday prayers.
We have also established regular Islamic Q&A sessions every month concentrating on the youth called “Ask Imam” sessions. These sessions provide an opportunity to ask any questions related to being a Muslim today and how to answer them based on Islamic teachings.
An outdoor Play area for the kids has been set up, and also separate toilet for the kids has been completed.
## **Festivals**
The Mosque prepares food daily during Ramadan for those attending our Mosque who wish to break their fast together. Eid was also celebrated at the Mosque with a family day and communal meal.
## **Funeral Facilities**
Iqra Academy provides a full funeral service, with a mortuary store, facilities for Islamic bathing of the diseased, and shrouding of the deceased. We also provide transportation to the graveyard in our funeral vehicle.
## **Iqra Academy**
## **Fundraising and local community support**
The Academy further strengthened its volunteer base, introducing basic training and clearer role structures to ensure sustainability and effective service delivery.
We helped fundraise for various local and international projects through registered UK charities. The money went to local projects such as funding a food table for the homeless in Edinburgh as well as to the international humanitarian crisis, we liaise with fundraising charities such as Ummah Welfare Trust, One Ummah and Al Aqsa Foundation.
## **Religious activities**
The Islamic Q&A sessions established in the prior year, have been ongoing and been very successful. Every month, we concentrate on youth with our “Ask Imam” sessions. These sessions provide an opportunity to ask any questions related to being a Muslim today and how to answer them based on Islamic teachings. We hosted world renouned Mufti Menk at Iqra academy with an overwhelming turnout, hugely benifitiing the community of Edinburgh.
## **Education**
New youth workshops focusing on wellbeing, confidence building, and responsible use of technology were delivered alongside existing educational programmes.
We continue to provide bi-weekly adult Islamic education classes based on the Quran, both in English and Urdu as well as daily classes for 5- to 15-year-old children to promote the physical, social, moral and spiritual development of young people. We have created an App which records the attendance of the pupils and if needed gives them homework to complete through the app.
Offering regular Islamic courses tailored to meet the diverse needs of participants of all ages and genders. These courses are designed to provide a comprehensive understanding of Islamic teachings, principles, and values. They cater to various levels of knowledge, from beginners seeking foundational knowledge to advanced learners looking to deepen their understanding. The programs are inclusive and accessible, ensuring that men, women, and children can engage in an environment that respects their unique learning styles and needs. Topics may include Quranic studies, Hadith, Islamic history, jurisprudence (Fiqh), and spiritual development, with experienced instructors guiding participants through interactive sessions, discussions, and practical applications of faith in daily life.
## **Hall and rooms**
Our hall and meeting rooms are available for use by local groups and organizations. This year alone the facilities have been used by groups as varied as the local karate club, boxing classes as well as jumble sales and various ad-hoc charity events. Local charities are encouraged to make use of our meeting rooms.
## **Building Work**
Further improvements were made with a focus on environmental responsibility, including wider use of energy‑efficient lighting and improved waste management during major events.
We successfully completed renovations in the main entrance areas, enhancing the space to create a more welcoming and modern environment. Updates included installing stylish and functional new shoe racks to better store footware, applying a fresh coat of paint to brighten and rejuvenate the walls, and upgrading the lighting to improve visibility and ambiance. Additionally, brand-new carpeting was installed, adding a touch of comfort and sophistication while complementing the overall aesthetic of the area.
**Page 3**
**Iqra Academy**
## **FINANCIAL REVIEW**
The Statement of Financial Activities shows net incoming resources for the year of £22,530.00. A total of £22,530.00 was retained in accumulated funds at the year end.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level to provide sufficient funds to cover management, administration and support costs.
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity’s Constitution 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 charity and of the incoming resources and application of resources of the charity 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 charities SORP;
- make judgments 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;
- 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 at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity’s Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Independent examiner**
, ACCA, Amin & Co., Chartered Certified Accountants, was appointed as independent examiner and the Trustees recommended that Farhan Amin remains in office as independent examiner until further notice.
This report was approved by the Trustees on 29th December 2025 and signed on their behalf by
**Page 4**
Iqra ALqdemy
Aecountants, Report to the Trustees on the Unaudited Financial Ststements of Iqrn AeAdemy.
We report on the fu)ancial staternents of Iqra Acadetny for the period ended 31 March 2025 which Comprises
the Statement of Financial Activities. the Balance Shed and th¢ related notes. These financial statements have
been prepared in accordance with the accnunting policies sel out therein and the requirements of the Financial
Reporting Standard for Smaller Entities (effective April 2008)
Respective responsibilities of Trustees and examiner
The charily's Truslees are responsible for the prepardlion of the fllwicial slat¢m¢nts in acrdanCe with th¢
tenns of the Charities and Trustee Investmeirt (Scotland) Aci 2005 and the Charities ALcounts (Scotland)
Regulations 2006 ("2006 Accounts Regulations'j. The charity Trnstees consider that the audit requirement of
Kegulation l U( l) (a) to (c) of the 2006 Accounts Kegulations does not apply. It is my responsibility to examine
the tinancial statements &8 required under Section 44(1) (c) of the Act and to state w'hether particular matters
have come to my attention.
Ilasi$ of Accountsnts. report
My examination is carried out in accordance with Regulation I l of the 2006 Accounts Regulations. An
cxamination includcs a rcvicw of accounting rcwrds kopt by th¢ Charity and a comparison of the financial
stat¢iii¢nts Pr¢ted with thos¢ [ordS. It also includcs consideration of any unusual itcrns or dIlOSUr¢S in thc
financial slatements, and sceks explanations from the Trusle¢s LunLYrning any suLh n)allcrs. Th¢ Prulu[I
undertaken do not provith all the evida)c¢ that would be requi1 in an audiL and consequently I do not express
an audit opinion on the view given by the finala1 statsments.
Aecountants, slatemenl
In the course of my examination. no matter has come to my attention
which gives rne reasonable cause to believe that in any material reSpt the requirements:
to kcep accounting records in wxordanlx with secti( 441 I Xa) of th¢ 2)5 Act and Regulation 4 of the
2006 Accounts Rcgulation4 a1
to prepare financial statements which accord with the aunting records and comply with Rcgulatioii 8
of ihe 2006 Accounts Regulations
have not be¢n mel or
2. to which. in my opinion, attention should be th7wn in der to enable a proper understanding of the
ched
Aniin & Co.
AC.C.-A IIL'g. N'o: Q65?944
DAte: 29 Deeember 2025
Page 5
**Iqra Academy**
## **Statement of Financial Activities**
## **for the year ended 31 March 2025**
|||**2025**|**2024**|
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
||**Notes**|**£**|**£**|
|**Incoming resources**||||
|**Incoming resources from**||||
|**generated funds**||||
|Voluntary income|**2**|129,985|86,130|
|**Incoming resources from**||||
|**charitable activities**||-
|-
|
|||_______|_______|
|**Total incoming resources**||129,985
|86,130
|
|||_______|_______|
|**Resources expanded**||||
|**Charitable activities**||(107,455)|(81,852)|
|**Governance costs**||(200)
|(200)
|
|||_______|_______|
|**Total resources expanded**||(107,655)|(82,052)|
|||_______|________|
|**Net movement in funds**||22,530
|4,278
|
|||_______|_______|
|**Movement in funds b/f**||341,702|337,424|
|||||
|||_______|_______|
|**Total funds carried forward**||364,232|341,702|
**The notes on pages 7 to 11 form an integral part of these financial statements.**
**Page 6**
## **Iqra Academy**
## **Balance sheet**
## **as at 31 March 2025**
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
**11**
**Net current liabilities**
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
**12**
**Net assets**
**Funds**
Unrestricted Funds
General Funds b/f
**13**
General Funds
**13**|**31/03/2025**
**£**
**£**
812,433
2,440
2,809
_______
5,249
(413)
_______
4,836
_______
817,269
(171,757)
_______
645,512
281,280
364,232
_______
645,512
|**31/03/2024**
**£**
**£**
809,107
2,440
1,249
_______
3,689
(814)
_______
2,875
_______
811,982
(189,000)
_______
622,982
281,280
341,702
_______
622,982
|
|---|---|---|
The financial statements were approved and authorized for issue by the Trustees on 29[th] December 2025 and signed on their behalf by
## **The notes on pages 8 to 12 form an integral part of these financial statements.**
**Page 7**
**Iqra Academy**
## **Notes to the Financial Statements for the year ended 31 March 2025**
## **1. Accounting policies**
## **1.1. Accounting convention**
The financial statements are prepared under the historical cost convention and where appropriate modified to include the revaluation of certain fixed assets and in accordance with the statement of Recommended Practice-Accounting and Reporting by Charities (SORP 2005) issued in March 2005, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The principal accounting policies adopted in the preparation of the financial statement are set out below.
## **1.2. Income resources**
Voluntary income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognized where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods, or when the donor has imposed conditions which must be met before the charity has unconditional entitlement.
Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognized as earned (as the related goods or services are provided). Grant income included in this category provides funding to support performance activities and is recognized where there is entitlement, certainty of receipt and the amount can be measures with sufficient reliability.
## **1.3. Resources expended**
Expenditure is recognized on an accruals basis when a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.
Governance costs include those incurred in the governance of the charity and its assets and are primarily associates with constitutional and statutory requirements.
## **1.4 Activity based reporting**
The trustees are of the opinion that the charity has a single activity and there is no merit in providing further analysis within the notes to the accounts.
**Page 8**
## **Iqra Academy**
## **Notes to the Financial Statements for the year ended 31 March 2025**
## **1.5 Tangible fixed assets and depreciation**
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalized.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - No depreciation charged Fixtures, fittings and equipment - 25% straight line Improvement in Property - 10% straight line
Land is non-depreciable as it is deemed to have an infinite useful life.
Buildings are not depreciated as the trustees deem the total depreciable cost to be immaterial.
The trustees are of the opinion that the total depreciable cost is immaterial as they estimate that the residual value of the building, at prices prevailing at the date of acquisition, is not materially different to its carrying value in the Balance Sheet as the charity has a policy of regular maintenance and repair which ensures the building is kept in good condition.
The residual value is estimated (after excluding the effect of price changes since the date of acquisition) by considering similar properties of an age and state of repair equivalent to that anticipated at the end of the property’s deemed estimated useful life of fifty years.
At the end of the accounting period, the trustees are of the opinion that the estimated residual value of the building remains appropriate.
**2. Voluntary income 2025 2024 £ £** Donations 129,985 86,130 **3. Incoming resources from charitable activities 2025 2024 £ £** Letting of non-investment property - -
**Page 9**
## **Iqra Academy**
## **Notes to the Financial Statements for the year ended 31 March 2025**
**4. Costs of charitable activities 2025 2024 £ £** Staff costs 45,548 44,893 Premises costs 47,478 26,312 Running costs 5,800 3,094 Legal and professional fees - - Interest and finance charges 2,277 1,201 Depreciation 6,152 6,152 107,255 81,652 **5. Governance costs 2025 2024 £ £** Independent examination 200 200 **6. Net incoming resources for the period 2025 2024 £ £** Net incoming resources are stated after charging: Depreciation and other amounts written off tangible assets 6,152 6,152 Independent Examiner’s remuneration 200 200 **7. Employees Number of employees 2025 2024** The average monthly numbers of employees during the period were: 7 7 **Employment costs 2025 2024 £ £** Wages and salaries 45,548 44,893
There were no employees who received remuneration of over £60,000 in the periods.
## **8. Trustees’ emoluments**
No trustee or any persons connected to them received emoluments or any reimbursement of any expenses during the year.
**Page 10**
## **Iqra Academy Notes to the Financial Statements for the year ended 31 March 2025**
|**Land and Fixtures,**
**9.**
**Tangible fixed assets**
**buildings fittings and**
**freehold equipment**
£
£
**Cost**
At 1 April 2024
797,573
82,272
Additions
-
-
At 31 March 2025
797,573
82,272
**Depreciation**
At 1 April 2024
-
82,272
Charge for the year
-
-
_______
_______
At 31 March 2025
-
82,272
**Net book values**
At 31 March 2025
797,573 -
At 31 March 2024
797,573 -
**10. Debtors**
Other Debtors
**11. Creditors: amounts falling due**
**within one year**
Other taxes and social security costs
Trade creditors
Accruals and deferred income
|**Improvement**
**in**
**property**
**Total**
£
£
61,523
941,368
9,478
9,478
71,001
950,846
49,989
132,261
6,152
6,152
_______
_______
56,141
138,413
14,860
812,433
11,534 809,107
**2025 2024**
**£ £**
2,440 2,440
**2025**
**2024**
**£**
**£**
213 614
- -
200 200
_______
_______
413 814|
|---|---|
**Page 11**
**Iqra Academy**
## **Notes to the Financial Statements for the year ended 31 March 2025**
|**12. Creditors: amounts falling due**
**2025**
**after more than one year**
**£**
Other loans
171,757
_______
The loan is interest-free, unsecured and originally for a period of five years.
**13. Analysis of net assets between funds**
**Unrestricted**
**funds**
**£**
Fund balances at 31 March 2025 as
represented by:
Tangible fixed assets 812,433
Current assets 5,249
Current liabilities (413)
Long-term liabilities(171,757)
645,512
________
_________|**2024**
**£**
189,000
_______
**Total**
**funds**
**£**
809,107
3,689
(814)
(189,000)
622,982
________|**2024**
**£**
189,000
|
|---|---|---|
## **Purposes of General Funds**
## _**General Fund**_
The General Fund is funded by unrestricted donations.
**Page 12**
## **Iqra Academy**
**The following pages do not form part of the statutory accounts.**
## **Iqra Academy**
## **Detailed Income and Expenditure Account for the year ended 31 March 2025**
|
**Income**
**Voluntary Income**
Donations
**Income from charitable activities**
Letting of non investment property
**Total income**
**Total expenditure**
**Net surplus for the year**|**2025**
**£ £**
129,985
_______
129,985
-
_______
-
129,985
(107,455)
22,530|**2024**
**£ £**
86,130
_______
86,130
-
_______
-
86,130
(81,852)
4,278|
|---|---|---|
|**Iqra Academy**
**Schedule of Expenditure**
**for the year ended 31 March 2025**
**Expenditure**
**Charitable activities**
_Staff costs_
Wages and salaries
_Premises costs_
Rent Payable
Rates
Service Charges
Insurance
Light and heat
Cleaning
Repairs and maintenance
_Running costs_
Printing, postage and stationery
Telephone
Motor Expenses
Subscriptions
Charitable Donations
Travelling and entertainment
Fund raising event exp
_Legal and professional costs_
Legal and professional
_Finance costs_
Bank charges
Credit Card Charges
_Depreciation and Gains/Losses_
Depreciation on F&F and Improvement in property
**Total of charitable activity expenditure**
**Governance Costs**
Independent examination
**Total expenditure**
|
|
|---|---|