AL-HIKMEH FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that the charity reported a net expenditure of £23,827 for the year, resulting in a decrease in unrestricted funds from £290,814 to £266,987. The trustees consider the financial position to be healthy and sustainable, noting that the current level of free reserves is higher than the stated policy requirement of £12,000. The charity is not reliant on future funding to sustain its going concern position and has no material uncertainties regarding its ability to continue operations.
What the accounts disclose
“Subsequent to consultation, the Board of Trustees concluded that it is to preserve a policy on reserves of £12,000 should a reduction in income occur.” — page 9
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Dr ZAID AHMED ALI THAMERchair
- BASHAR THAMER
- Husain Al-Khoee
- KARAR ELKORISHY
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.6m | £1.3m |
| 31/12/2023 | £3.7m | £3.7m |
| 31/12/2022 | £3.4m | £3.2m |
| 31/12/2021 | £4.1m | £4.1m |
| 31/12/2020 | £2.0m | £2.0m |
Common questions
Is AL-HIKMEH FOUNDATION financially healthy?
The accounts state that the charity reported a net expenditure of £23,827 for the year, resulting in a decrease in unrestricted funds from £290,814 to £266,987. The trustees consider the financial position to be healthy and sustainable, noting that the current level of free reserves is higher than the stated policy requirement of £12,000. The charity is not reliant on future funding to sustain its going concern position and has no material uncertainties regarding its ability to continue operations. Its FY2023 accounts were audited by MHA.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| BESIYATA | 1 | £20k |
| NER FOUNDATION | 1 | £15k |