QUBA INITIATIVE
The charity aims to provide relief to poverty and promote Islamic learning and spirituality in Manchester and surrounding areas.These aims are delivered by the provision of essential food items to families in need, the organisation of courses, lectures and conferences on Islamic sacred knowledge and the holding gatherings of prayers and remembrance of God and Prophet Muhammad.
Financial health, per its FY2024 accounts
The accounts state that unrestricted funds decreased from £22,802 to £11,981 due to a net expenditure of £10,821 against incoming resources of £35,664. The trustees report that the charity's reserves policy target of three to six months' expenditure has been maintained throughout the year, although the absolute reserve balance has fallen. No staff costs were incurred, and the charity remains a going concern with adequate resources for the foreseeable future.
What the accounts disclose
“It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure.” — page 4
Trustees
- AMJED ZAFARchair
- Mohammed Mohasan Anwar
- Mubarakhusain Dawood
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £36k | £46k |
| 31/12/2023 | £35k | £30k |
| 31/12/2022 | £38k | £47k |
| 31/12/2021 | £28k | £26k |
| 31/12/2020 | £22k | £14k |
Common questions
Is QUBA INITIATIVE financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted funds decreased from £22,802 to £11,981 due to a net expenditure of £10,821 against incoming resources of £35,664. The trustees report that the charity's reserves policy target of three to six months' expenditure has been maintained throughout the year, although the absolute reserve balance has fallen. No staff costs were incurred, and the charity remains a going concern with adequate resources for the foreseeable future. Its FY2024 accounts were independently examined.