TRUSTEES’ANNUAL REPORT & FINANCIAL STATEMENT 01 JAN 2024 to 31 DEC 2024 Tiustee Report & Financial 5taternent Period Endin8 December 2024 Charity Information Charity Name Asbaab Foundation (SCIO) Trustees Charity Number SC.046739 Principal Address 24 Barrland Drive Giffnock Glasgow G46 7QD Telephone vw.asbaabtoundation.or 11 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Contents Page Tn￿teeS Report Independent Examiners Report Statetnent of Receipts and Payments Statement of Balances Notes to the financial Statetnent 12-13 21 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Trustee Report The In￿teeS are pleased to present their financial statement & report from 01 January 2024 to 31 December 2024. Structure, Governance & Mana ement Constitution The Charity is a Scottish Cliaritable tncory)oi its cU￿ent legal fonn 011 26 Jiily 2016. It has Trustees. Appointment of trustees Trustees are appointed iti aeeoidanee with the collslilulioiL. The cli￿&1Y ivas hLCOlVOI"aled with 3 tnistees. One more tTUSteed was appo￿tea ￿ August 2016. There aTe ell￿entlY 4 Trustees. Objectives and Activities Charitable purposes The or8anisation's purposes are: To advance education for the benefit of the poor, the underprivileged and the general publie by ￿e￿llS of, biit not exeliisively, the piovision 01 the assistanee in the PTOViSiOll of ediicational activities and f Ipplellielltary schools, nilrseries: libTaiies and traiLllllg celltres. ion of Islam, by n]e )g the of IslanL provision of facilities and services for Islamic education be Quran and tbe Sullnab of the Prophei Muban]mad {Peace be 'eted by tbe Able Sunllah Wal Jall￿a'ab school of thought. listress and suffenllg a￿0￿8 pool people, hO￿eleSS sters and otlier people ￿ need, by ineans of, but iiot oalls for pi'ovidill8 or paying for iteLns, equipinent, o tlie pi'ovision of food, clothing, ￿]d accoinniodation 31 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Organisation Structure The organisation strnctt]re is as follows.. ooo ASBAAB FOUNDATION Goo oo GOQ ASBAAB ASBAAB ASBAAB INSTITUTE EDUCATION WELFARE Goo GO ma¢taB ASBAAB 41 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Activities & Achievements In the period under review the following activitieslachievements were ll￿de within eacb area; We bave been limited this year in expanding further on our ain￿ alld objectives due to not being able to secure a larger premise. Asbaab Education There are cu￿entlY three inain projects rLUIIiI Professionals Prograll]Jne, and Student Ediic Maktab As-SAlikeen (After school club), is assist parents alld COll]mullilies ill the illitial Islamic spille, it serves to ill8rain withill chil successful, hard-wotking ebildren not only ill i.e J81011 aspec 115 The Maktab, caters for the resideJ]ts of East Rellfrewshiie, was set-up llot to 're-llivent the wheel, with respect to afrer-scliool Education but in fact to establish a tnily iiispiiiiig experience liinited llot just to the reading of the Holy Qi]T'an. Such additional eleinents lllclude Arabic recitation, Urdu Language - Reading & Writing, and Introduction to Basic Arabic. Unfothll￿te1Y, we have still not been able to secure a premise hence have been unable to re- start tbe Mahab. We intend to conlillue the Maktab whell a new prell)ise is available as dell￿}d is quite high in the local coll)munity. CutTently, any Tesidellts enqu￿n8 oi showing inteiest have been iefetted to Woodfann Eductaioii Ceiitre- with whoni our old Maklab ei's sit. 51 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Student Education Sponsorship - During this period. Asbaab foundation bas assisted a coiiple of Islamic Ediicalional Institutes. These Include Westwood Higb & Al-Balagh Academy. Asbaab Medical Professionals Programme has been set-iip to prO￿Ote the assisted learning of Me(h'cal Professiollals ￿cli]d￿8, but not IiLllIted to, doctors. dentists. phannacists. ￿la othei Iiealth-related Professio1￿15 This yeaT tliere was llo laTge-scale educatioi) tutorial sessiolls were held in various locatioi General Islamic Education- Progra]n￿eS, day courses alld Ion8-tern] educational COUTses set-up aDd delivered.. HAJJ 090 THE .M 4 S I. L K L L A S 5 ts L A 5 6 O MUFTI DR. Ab.MARAKRAM MIIFTI DR. A4MAR AKRAhl Io AIUFfi DEL.A&￿A￿AK￿ NUff129m5E￿EI?&ENlf0d SAnRDlYP￿1YEm￿R*121 THEOLOGICAL CHALLINGIS AFFECTING THE MUSLIMYOUTH other courses wei'e deliV￿.ed face to face, at Loub locations 2toulld Gl2sgow & UK. U5IIAICOMNuMrrviGIA5GOWI SM4YKiiSAIFuDtHN 0￿ MuFTiASMAP 61 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Asbaab Welfare This was established to inanage Zakat & Sadqah fimds (Chantable donations) for utilisation With￿ the UK (e.g. sponsor higher education for UK citizells) alld overseas (e.g. Douations to the poor & hUn￿litaTiall crises). It is also utilised to donate or lo￿] Lnoiiey (QaTze Hasalla), goods OI services lo help other charities, establisllliieiits or people facili? finaiicial liai'dsliip. In 2024, we have not donated OT loaned to a 71 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Plans for future Our vision foT the ￿tll[e ￿cludeS the follow￿8. EDUCATION Reinstate Maktab As-salikeen (Aftei-scliool cliib) Extended Childcare Cellli'e/Service f 'rouThd the clock, c1ll.ld-c￿'e (tliis could potelltially include a nw"s Create an institute of learning whicli behaviouT and hU￿aTh values To forni, or assist in the fonnation of Education centres e.g. a coll]D]iullti" c To conlillue to pro]note Ibe assisted I COmMuNf￿ RELATIONS To establish recreational facilities built on good morals and ethics. This may include but will llot be lilliited to sports clubs e.g. football, SWI1￿]￿￿8, 8yni etc To ￿T.￿ll8e activities which promote conllnimity cohesioll alld diV￿.91tyIeqllality witkn'n the local coi]]nli￿ity e.g. "Help Yol￿ iiei8hboi￿" PTO81'a]]lllie To facilitatelpromote Ibe education of within tbe local COll)mi￿lty An elderly care home with a religious ethos WELFARE To further establish a Zakat ￿M￿8e￿ellt fund for utilisation within the UK and overseas Con]munity Engagement Progranllnes e.g. Sports We iu1dei.st￿1d tbal diie to lillllted Tesources an the charity itself. Tl te witli adth"tional i) tc. Iiot all the objectives ' 2025 to enable us to fulfil our vision above is.. 'ities wheii Trellue and teaehei's are available. owed by promotion to the local residents of East eains, Clarkstoll and/or otber area(s)) policy and a sustaillable f￿￿]Cial model for the 81 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Financial Review IllcO￿e for the penod was £2,330.00 and expen(h'tUTe was £130.29. £560.00 was donated to other chantieslcliaritable causes. SU￿lUs foi this period was of £1,639.71. Our main fijnding during this period has co We are yet to apply for funding grants theref Reserves policy At the present time, the trustees consider tlia sufficiellt to cary on the current level of acti As the organisation expands and the ru[￿￿19 applyiiig for funding grants, develop a resei ensure that a sufficiellt balallce of reserves is mailltained. Donated fgcilities Vdnd serTrryces Volullteers for Maktab Charity Administrator Approved by the Trustees and signed on tbeir b 91 Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Independent Examiner's Report to the Trustees of Asbaab Foundation (SCIO) I Teport on the accounts of the chaTity for the period fro1]] 01 January 2024 to 31 DeCe￿be1 2024 wliich are set oiit on pages 9 to 14. Respective responsibilities of trustees and The charitys tnjstees are i'esponsible for the tbe tenns of the Charities and Trnstee Invest Accounts {Scotlalld) Regidaiions 2006. The requirement of Regulation 10(1) (d) of the 2 my responsibility to examine the accollllts as lo state whether partieidar nTrtteis have COLII Basis of independent examiner'5 Statemen My ex￿ni1]at1OI] is canied oiit in accordance witli Reoiilatioii I l of tlie 200() Accoiiiits Regulations. An ex8minatlOll lllcludes a review of the accounting records kept by the charity and a compaTiSOn of the accoullts presented with those records. It also incliides consideration of ally unusual items or diselosill'es in the accounts and seeks explanations from ihe tmstees collcernillg ally such n￿lleTs. The pi'ocedures ulldeitaken do not provide all the evidellee that would be reqiiired ill all audit, and consequelltly I do not express an audit opinion on the view given by the accounts. Independent examiner's statement Duri]Jg exa￿li]atIO￿, no lllatter has cotue to tuy attention; 1. wliicli gives ￿e reasonable cause to believe tbat in any niaterial respect the Tequiremeiits.. to keep accounting records in accoTd￿lce with Section 44(1) (a) of the 2005 Act and Regulatioll 4 of the 2006 Accowil to prepare aecoimts wbich accord wit e 2006 Accounts Re cords and comply with Itention shoiild be drawn in order to enable a propeT IOIPage Tiustee Report & Financial 5taternent Period Endin8 December 2024 Statement of Receipts and Payments for the period from 01 January 2024 to 31 December 2024 RECEllryS ￿ Note Donatiolls Total £2,330.00 Totsls £2.330.00 Cost of Charitable £130.29 Donvdtions Loans (Qane Ha5ana returnin from us) £560.(M) £O.(M) £690.29 Surylu5 for the period -£1,639.71 IIIPage Tiustee Report & Financial 5taternent Period Endin8 December 2024 Statement of Balances At 31 December 2024 Total Opening Cash at Bank & I Movement for the Period Closing Cash at Bank & In Bank & Bank £3,389.75 Cash In Hand £0.00 £3,389.75 nd signed on their b 121Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 Notes to the accounts for the period from 01 January 2024 to 31 December 2024 1. Basis of VdCCOUDting These accounts have been prepare accordance with the Clwities & Charities Accounts (Scotlalld} Re 2. Nature and purpose of funds UnTestricted fi￿aS ￿'e those that i fijrtherallce of tlie objects of the cl fund for the day-to-day rLJnning of the oi'gallisatloll. Restricted fi]nds may only be used for specific puryoses. Restrictions arise wben specified by the donor or when funds are raised for specific purposes. For this period all fimds were received as ullrestsicted donations. 3. Bank Accounts Maktab as Salikeen has a separate sub bank accowit, to Asbaab Foulldation, as of April 2017. Diie to very few transactioiis oil the sub accouLit, all accowit activity and balances have been combined witb the ￿ain Asbaab accowit. 4. Income Donation T)Tre Donations £2.330.00 Loaii Repaiiiients £0.00 £2.330.00 131Page Tiustee Report & Financial 5taternent Period Endin8 December 2024 5. Payments Cost of Charltable Activities IT Totsl 2024 £130.29 6. Out Going Donations Outgoing Donation 7. Loans Loans R8turn8d NONE -£0.00 -£0.00 141Page