ABU FAISAL TRUST
Financial health, per its FY2022 accounts
The accounts state that the charity reported a net expenditure deficit of £18,300 for the year ended 31 December 2022, resulting in a decrease in unrestricted funds from £65,185 to £46,885. Despite the deficit, the charity maintains a positive bank balance of £50,624 and unrestricted reserves of £46,885, which the trustees indicate provides capacity for future projects. The financial statements were prepared on a going concern basis with no material uncertainties disclosed.
What the accounts disclose
“Unrestricted funds are needed: • to ensure its core activity could continue during a period of unforseen difficulty • to maintain a contingency reserve to safeguard the charity in the event of unforeseen circumstances”
Trustees
- Afsana Mahmood
- Aleena Mohammed
- Nabeela Mirza
- SHAGUFTA NAWAZ
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £297k | £331k |
| 31/12/2023 | £354k | £294k |
| 31/12/2022 | £260k | £278k |
| 31/12/2021 | £206k | £199k |
| 31/12/2020 | £171k | £122k |
Common questions
Is ABU FAISAL TRUST financially healthy?
The accounts state that the charity reported a net expenditure deficit of £18,300 for the year ended 31 December 2022, resulting in a decrease in unrestricted funds from £65,185 to £46,885. Despite the deficit, the charity maintains a positive bank balance of £50,624 and unrestricted reserves of £46,885, which the trustees indicate provides capacity for future projects. The financial statements were prepared on a going concern basis with no material uncertainties disclosed. Its FY2022 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| BEIS MENACHEM CHABAD LUBAVITCH | 1 | £102k |
| YESHIVAS LUBAVITCH MANCHESTER | 1 | £20k |