THE ELDEST FOUNDATION
The charity aims to advance the Shia Muslim Faith in the United Kingdom for the benefit of the public. This is done through various activities, including religions functions, prayers, lectures, educational courses, and charitable drives donating food, blood and gifts.
Financial health, per its FY2024 accounts
The accounts state that the charity achieved a net income of £8,917 for the year ended 31 December 2024, with total unrestricted funds at year-end standing at £36,486. The trustees report that this level of reserves is maintained in line with their policy of holding between three and six months' expenditure to ensure operational continuity. The independent examiner confirmed that accounting records were kept and the financial statements accord with those records.
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 5
“During the period the charity provided temporary conduit funding to Wadi Funeralcare, a UK registered charity in which one of the Trustees is also a trustee. At the reporting date, Wadi Funeralcare owed £6,154 (2023: £16,369) to the charity in respect of a concessionary loan that has been used towards charitable expenditure.” — page 15
“Included within unrestricted donations are amounts received from the Trustees and their close family members, totalling £nil (2023: £316).” — page 15
“During the period the charity provided temporary conduit funding to Wadi Funeralcare, a UK registered charity in which one of the Trustees is also a trustee. At the reporting date, Wadi Funeralcare owed £6,154 (2023: £16,369) to the charity in respect of a concessionary loan that has been used towards charitable expenditure.” — page 15
“Included within unrestricted donations are amounts received from the Trustees and their close family members, totalling £nil (2023: £316).” — page 15
Trustees
- Haidar Safa Mohammad Nasrallachair
- Ali Munaf Hasan
- Hassan Ali Mahmoud
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £88k | £79k |
| 31/12/2023 | £82k | £44k |
| 31/12/2022 | £0 | £0 |
Common questions
Is THE ELDEST FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that the charity achieved a net income of £8,917 for the year ended 31 December 2024, with total unrestricted funds at year-end standing at £36,486. The trustees report that this level of reserves is maintained in line with their policy of holding between three and six months' expenditure to ensure operational continuity. The independent examiner confirmed that accounting records were kept and the financial statements accord with those records. Its FY2024 accounts were independently examined.