Group statement of financial activities and income and expenditure account for the year ended 31 December 2023

Income and endowments from: Unrestricted funds Restricted funds Endowments funds Total 2023 Total 2022 Notes
£’000 £’000 £’000 £’000 £’000
Donations and legacies 33,758 212,035 452 246,245 200,160 2
Other trading activities 4,092 - - 4,092 3,788 3
Investments - - 577 577 554 4
Charitable activities - 23,781 - 23,781 29,678 5
Total 37,850 235,816 1,029 274,695 234,180
Expenditure on:
Raising funds:
Costs of generating voluntary income - 17,221 - 17,221 14,915 10a
Fundraising trading: cost of goods sold and other cost 4,067 - - 4,067 3,546 10a
Investment management cost - - 382 382 424 10a
Charitable activities 11,337 202,053 - 213,390 174,338 10a
Total 15,404 219,274 382 235,060 193,223
Net income 22,446 16,542 647 39,635 40,957
Transfers between funds 462 - (462) -   26
Subsidiary funds brought forward on consolidation 239 - - 239 5
Net movement of funds: 23,147 16,542 185 39,874 40,962
Reconciliation of funds
Total funds brought forward 19,276 82,458 8,477 110,211 69,249
Total funds carried forward 42,423 99,000 8,662 150,085 110,211

Parent charitable company statement of financial activities and income and expenditure account for the year ended 31 December 2023

Unrestricted funds Restricted funds Endowments funds Total 2023 Total 2022 Notes
£’000 £’000 £’000 £’000 £’000
Income and endowments from:
Donations and legacies 34,026 212,035 - 246,061 199,995 2
Investments - - 577 577 140 4
Charitable activities - 23,781 - 23,781 29,678 5
Total 34,026 235,816 577 270,419 229,813
Expenditure on:
Raising funds:
Costs of generating voluntary income - 17,221 - 17,221 14,915 10a
Investment management cost - - 383 383 55 10a
Charitable activities 11,412 202,053 - 213,465 174,338 10a
Total 11,412 219,274 383 231,069 189,308
Net income 22,614 16,542 194 39,350 40,505
Subsidiary funds bought forward on consolidation - - - - 5
Net movement on funds: 22,614 16,542 194 39,350 40,510
Reconciliation of funds
Total funds brought forward 17,304 82,458 8,467 108,229 67,719
Total funds carried forward 39,918 99,000 8,661 147,579 108,229

Group and charity balance sheets as at 31 December 2023

2023 TOTAL FUNDS 2022 TOTAL FUNDS Notes
Group Charity Group Charity
£’000 £’000 £’000 £’000
Fixed assets
Intangible assets 2,139 2,139 856 856 13
Tangible assets 8,106 7,924 8,391 8,157 14,15
Investments 169 1,045 169 1,045 16
Total fixed assets 10,414 11,108 9,416 10,058
Current assets
Stocks and work in progress 5,593 5,409 127 - 17
Debtors due within one year 23,169 22,493 18,201 18,072 18
Cash at bank and in hand 142,715 141,878 125,120 124,336 19
Total 171,477 169,780 143,448 142,408
Liabilities
Creditors: amounts falling due within one year 31,041 30,545 42,653 44,237 20
Net current assets 22,614 16,542 194 39,350
Total assets less current liabilities 150,085 147,579 110,211 108,229
Total net assets 150,085 147,579 110,211 108,229
Total funds of the charity:
Unrestricted funds general 42,423 39,918 19,276 17,291
Restricted income funds 99,000 99,000 82,458 82,461 26
Endowment funds 8,662 8,661 8,477 8,477 27
Total funds 150,085 147,579 110,211 108,229  

Dr Ihab M.H. Saad
Chair of the Board of Trustees
Islamic Relief Worldwide

Group cash flow statement for the year ended 31 December 2023

2023 2022
£’000 £’000
Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period as per the statement of financial activities (excluding cash flow from endowments) 39,688 40,871
Adjustments for:
Depreciation 281 393
Amortisation 88 -
Decrease/(increase) in stocks (5,466) -
Decrease/(increase) in debtors (4,968) (11,002)
(Decrease)/increase in creditors (10,825) 3,537
(Gains)/loss on foreign exchange (65) 4,266
Net cash provided by operating activities 18,733 38,065
Cash flows from investing activities
Purchase of intangibles (1,371) (847)
Purchase of property, plant and equipment (30) (587)
Proceeds from the sale of property, plant and equipment 13 (17)
Net cash provided by (used in) investing activities (1,388) (1,451)
Cash flows from financing activities
Endowment (waqf) 185 85
Net cash provided by financing activities 185 85
Net increase in cash and cash equivalents 17,530 36,699
Cash and cash equivalents at the beginning of the reporting period 125,120 92,687
Change in cash and cash equivalents due to exchange rate movements 65 (4,266)
Cash and cash equivalents at the end of the reporting period 142,715 125,120
Consisting of:
Cash at bank and in hand 142,715 125,120