AL-MUNTADA AL-ISLAMI TRUST
Financial health, per its FY2024 accounts
The accounts state that unrestricted funds are in deficit, with a carried forward balance of £(62,313), while total net assets stand at £970,212. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern due to these negative unrestricted funds and reliance on future income projections. However, they maintain that adequate resources exist for the foreseeable future through a financial recovery plan.
What the accounts disclose
“The charity policy is to keep money aside for any future difficulties and it is one to three worth of running costs.” — page 24
Trustees
- Dr SAEED ALGADIEchair
- ABDUL HAKEEM MONTAGUE
- Salah Taifoor
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £366k | £311k |
| 31/12/2023 | £408k | £353k |
| 31/12/2022 | £267k | £363k |
| 31/12/2021 | £454k | £381k |
| 31/12/2020 | £355k | £386k |
Common questions
Is AL-MUNTADA AL-ISLAMI TRUST financially healthy?
The accounts state that unrestricted funds are in deficit, with a carried forward balance of £(62,313), while total net assets stand at £970,212. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern due to these negative unrestricted funds and reliance on future income projections. However, they maintain that adequate resources exist for the foreseeable future through a financial recovery plan. Its FY2024 accounts were independently examined.