**Charity registration number 1115625** **Company registration number 5354695 (England and Wales)** **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr Abdul Shakiry M rK.A.M A-lShaifir Dr Z S Habib **Charity number** 1115625 **Company number** 5354695 **Registered office** 12a The Shaftesbury Centre 85 Barlby Road London UK W10 6BN **Independent examiner** ZAM Mushtaq Ltd Office 9 Dalton House 60 Windsor Avenue London SW19 2RR ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 9| |Independent examiner's report|10| |Statement of financial activities|11| |Balance sheet|12| |Notes to the financial statements|13 - 21| ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **The trustees present their annual report and financial statements for the year ended 31 December 2023.** The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016) ## **OBJECTIVES AND ACTIVITIES** The charity's objects are to support: - Al Shakiry Charity for Social Solidarity and its six affiliated Branches in Iraq. - Iraqi Community in London. ## **Our Aims are:** - To promote the efficiency and effectiveness of charities and the efficient use of charitable resources in Iraq and the United Kingdom by providing information, guidance, training and technical and professional support and assistance. - Relief of Poverty: The prevention or relief of poverty in Iraq and among Iraqi communities (in particular widows and orphans, the sick, disabled, elderly and internally forced displaced people) by providing: sponsorship, financial support and services to individuals in need and/or charities or other organisations working to prevent or relieve poverty. - Community Capacity Building: To develop the capacity and skills of the members of the socially and economically disadvantaged Iraqi communities in Iraq and London in such a way that they are better able to identity, and help meet, their needs and to participate more fully in society. - Social Inclusion: To promote social inclusion for the public benefit of communities in Iraq by preventing people from becoming socially excluded, relieving the needs of those who are socially excluded and assisting them to integrate into society. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **VOLUNTEERS** We rely on the support we receive from our volunteers both in London and Iraq. It enables us to work within a minimum budget and save on avoidable administration expenses. During 2023, ten volunteer posts supported the activities of our office. Their combined input (in the below categories) amounted to an accumulated 1695 volunteering hours, which represented a saving to the Charity resources of approximately £21,500 |Category|Volunteers per sector|Total Volunteer hours per sector| |---|---|---| |Fundraising|2|75| |Administration|1|528| |Finance*|1|250| |Translations & Media|2|400| |Management*|2|270| |IT Support|1|56| |Logistics|1|116| |**TOTAL**|**10**|**1695**| - (* denotes admin and finance supported by the same volunteer) - 1 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **ACHIEVEMENTS AND PERFORMANCE** SCSS London is responsible for the day-to-day management, administration, and operation of the charity in a professional and sound manner, in order to provide support to people in need. We develop, promote and engage in fundraising activities to raise awareness of the plight and needs of people living in poverty. We aim to secure donations and sponsorships to support disadvantaged and vulnerable citizens living in Iraq. We support our sister company, Al Shakiry for Social Solidarity (ASCSS) in Baghdad, to provide guidance, advice and support to its network of Branches and associated Charity Shops in Iraq. The Branches are as follows: 1. Najaf Branch (opened in January 2010) 2. Bayaa Branch (opened in June 2010) 3. Sadr City Branch (opened in November 2011) 4. Grayaat Branch (opened in March 2012) 5. Basra Branch (opened in September 2017) 6. Karbala Branch (opened in October 2021) The Branches continue to provide invaluable support to homeless, destitute and ill/disabled people. A family and/or individuals need to be registered with a Branch in order to qualify for support. Once an application is lodged, registered, staff and volunteers undertake a home visit to assess the applicant’s living conditions. This is followed up by ongoing regular visits to check on the wellbeing of a family/person. Our fundraising efforts are tailored to raise awareness and provide vital support to people living in crisis situations. This is especially important when negligent and inefficient government services in Iraq offer little support. Weekly _Special Appeals_ are featured on our website wherein we seek financial support for a family/individual in urgent need _see: www.shakirycharity.org._ Record keeping of charitable activities, and fundraising initiatives are transparent, and can be scrutinised at any time through our online administration system. All Donors and beneficiaries are assigned a unique lifelong registration number, and each Appeal carries an individual Help Number. This allows our Donors to follow the path of their donations, from giving to the beneficiary receiving thereof. This ensures that donations reach the intended recipient or project. The branches in Iraq work within the community to promote and encourage participation in training programmes. Such programmes are aimed at teaching an individual a skill which will benefit him/her to work, earn a living and become self-supportive. Guidance, advice and support to is provided to ASCSS Branches and Charity Shops, from SCSS London, to ensure that the aims and objectives of the charity are met and implemented in Iraq. Our London community programmes encourage development of social inclusion and capacity building amongst the Iraqi Community living in London, through participation in social events, training programmes and workshops. - 2 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ FUNDRAISING ACTIVITIES. During 2023, we focussed on improving and raising our fundraising profile and activities to a pre-covid levels. Through the hard work and tenacity of our fundraising department, and the generosity of benevolent donors we raised £179,526 during 2023. Special Appeals were launched on our website to support the following fundraising programmes : 1. Collections of good quality second-hand clothing (in-kind donations) which was sent to Iraq. 2. Our seasonal Winter Warmth Programme which provided blankets, and winter clothes to 200 families in Iraq. 3. Our annual _Back to School Programme_ to enable children from poor homes to continue to attend school and get an education. Donations paid the way for children to travel to school, obtain school uniforms and shoes, as well as to receive book and stationery requirements. 4. Our responsibility remained to ensure provision and delivery of support care and assistance wherever permissible. The ASCSS Charity Shop Programme in Iraq continued to thrive, addressing community needs by providing food, hygiene products, clothing, household goods, and appliances. This initiative is linked to our SCSS voucher system, which allows registered needy families to redeem vouchers at the charity shops. Each shop is affiliated with one of the six ASCSS branches in Iraq, ensuring that we meet the basic needs and well-being of destitute families. Any surplus income generated by the charity shops supports the monthly expenses of their associated branches. ## **CORE PROJECTS FUNDED AND MANAGED BY SCSS** ## **1. Individual Relief** - _**a. Sponsoring orphans and/or disabled children**_ - _**b. Special Appeals**_ - _**c. Student Support**_ **2. Group Relief** **3. Charity Bank** ## _**PROJECTS**_ ## **1. Individual Relief** ## _Sponsoring orphans and/or disabled children_ £28,565 (approx. IQD 47,132,250*) was raised to sponsor over 164 orphaned/disabled children from destitute families. Usually families in Iraq are large with 4-5 children per household. Sponsorship is 50,000 IQD (approx. £30). This amount is intended to provide for at least two children in any one family. - 3 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## _Special Appeals_ £25,622 (approx. IQD 42,276,300*) was received in response to Special Appeals/Newsletters on SCSS website. These appeals were requests for financial support from individuals and families in immediate and desperate need of emergency help. ## _Sponsor a Student Programme_ Since the launch of the programme in 2021, donors have come forward and pledged their support to the programme. Students must meet relevant criteria to be eligible for support. Nine students received support in 2023 enabling them to continue their studies. All nine students passed their studies in their chosen field and were promoted to 2023. ## **Group Relief** ## _Food and Clothing_ The Food and Clothing Voucher system for needy children and families is functioning effectively. Each family registered with one of our Branches receive 10 x vouchers valued IQD 5000 each (total value = IQD 50,000). Vouchers are redeemed at SCSS shops. Families use these vouchers to buy foods and goods according to their household needs. During 2023, the total amount raised for Group Relief was £35,543* (approximately IQD 51,646,000*) In addition, we received general donations totalling £7,550* (approximately IQD12,500,000*). The total number of families provided for was 515. ## **2. Charity Bank for Small Businesses** The Charity Bank (Fund) facilitates loans to destitute and unemployed citizens, in particular women. The Fund facilitates opportunities to learn a skill, purchase equipment and material, and enable Borrowers to become selfsufficient, earn a living, and provide for their families. Applicants need to meet certain criteria to qualify for an interest free loan. Generally, the loans are repaid in monthly instalments over a period of 12 – 24 months (depending on the total value of the loan). During 2023 a total of 210 loans total value £32,266 (approx. IQD 54,852,000*) were approved by Al Shakiry for Social Solidarity (ASCSS) in Iraq and granted under the Charity Bank for Small Businesses Program. The current capital of the Charity Bank is held by Al Shakiry for Social Solidarity (ASCSS) in Baghdad is £ 10,429 (approximately IQD 17,208,000*). Note: 1. * = Average Rate of Exchange during this financial year was IQD 1650= £1.00. 2. Exchange rates fluctuate throughout the period of a year, therefore there might be some differences when converting Pound Sterling to Iraqi Dinars, and vice versa. 3. From time to time we might transfer a higher amount that the actual donation we receive. This is paid by SCSS from our unrestricted donations account. ## **MANAGING CHALLENGES:** 1. SCSS remains committed to ensuring that 100% of donations are sent to beneficiaries in Iraq. Administrative costs in London are covered by monthly donations from Thames House Properties and annual Gift Aid reimbursements, which play a significant role in our financial accounting. - 4 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 2. In September 2023, we had to vacate our Cricklewood office due to the building’s sale, leading to a significant increase in rent. We are actively searching for more affordable office space. 3. We continue to minimize logistic and administrative costs by engaging volunteers and relying on trustees' voluntary expertise. 4. To reduce costly exchange rates and bank fees, we use money transfer bureaux, ensuring that beneficiaries receive the full donations while minimizing transaction costs. 5. SCSS is considering restructuring from a Charitable Company to a Charitable Incorporated Organization (CIO), which would lower costs by eliminating unnecessary banking charges and having the Charity Commission as the sole regulator. ## **Report on the Joint Activities of Shakiry Charity, London and Al Shakiry Charity, Iraq for 2023** Following the end of the Covid-19 pandemic, staff in Iraq were instructed to return to pre-pandemic operations. Key outcomes in 2023 included: 1. Field visits to needy families resumed and expanded to cover more areas around the Branches, raising awareness and providing guidance to those in need. 2. The Grayaat Branch was closed due to economic reasons, with its donations redirected to poorer areas. 3. Donor engagement continued via calls, emails, and social media, alongside updates on Shakiry Charity's website. 4. Negotiations with state factories secured discounted household items for needy families, benefiting both the charity and national producers. 5. New and used clothing donations were shipped to Iraq and distributed for free, with local branches encouraged to receive internal donations. 6. Management maintained communication with state institutions, submitted final accounts, and ensured timely social security payments for staff. 7. A bank account with TBI Bank in Iraq was opened to streamline donation transfers and reduce exchange costs. 8. A total of 34 humanitarian campaigns were carried out. 9. 1629 subsidies were distributed to 4085 families, covering food, clothing, medical costs, and household supplies. ## **2023 Statistics** : **1. Schedule of number of families and individuals registered with the Branches of Al-Shakiry Charity for Social Solidarity for the year 2023** |Branches in Iraq|New
families
registered
during
2023|New people benefiting
during 2023|Total families requiring
support| |---|---|---|---| |Bayaa Center|43|49
1|44
4| |Grayaat Center|1
0|3
0|83
12| |Sadr City Center|4
4|4
13|49
3| |Najaf Center|40|0
18|51
8| |Basra Center|61|58
2|0
1
6| |Karbala Center|50|158|6
17| |Total|39
2|882|13
37| - 5 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ **2. Cash and in-kind donations received by branches of Al-Shakiry charity during 2023** |Charity
Branches|Local
donations
(in-kind)|Local cash donations|International
donations
(from
London)|Total international
and
local
donations| |---|---|---|---|---| |Bayaa Center|IQD 2.867.000|IQD 6.387.000|IQD 33.120.000|IQD 42.374.000| |Grayaat Center|IQD 0.000.000|IQD 00.000.000|IQD 3.500.000|IQD 3.500.000| |Sadr
City
Center|IQD 2.730.000|IQD 4.058.000|IQD 55.290.000|IQD 62.078.000| |Najaf Center|IQD 0.000.000|IQD 12.435.000|IQD 28.700.000|IQD
.000
35
41.1| |Basra Center|IQD 3.420.000|IQD 19.885.000|IQD 30.790.000|IQD 54.095.000| |Karbala Center|IQD 2.305.000|IQD 21.780.000|IQD 33.435.000|57.520.000
IQD| |Total|IQD 11.322.000
(£ 6,600)|IQD 64.545.000
(£ 37,968)|IQD 184.835.000
(£108,726)|IQD
.000
60.702
2
(£153,354)| ## **3. The Charity Bank (Fund)** |Charity
Branches|Loans|Total Value
IQD|Amount
repaid
IQD|Balance
IQD|Type of loans|Description of
new projects
supported| |---|---|---|---|---|---|---| |Bayaa
Center|2|700.000|250.000|450.000|Project Support|Industrial
Sewing
Machines| |Grayaat
Center|5|1.225.000|675.000|550.000|3 Project Support
2 Household
needs|pastry / food 3
project support| |Sadr City
Center|6|2.572.000|2.025.000|547.000|4 Project Support
2 Household
needs|Food / laundry /
sewing kiosks| |Najaf
Center|34|9.003.500|4.219.500|4.784.000|16 Project
Support
18 household
needs|Kiosks / pastries
/ laundry
Food / Sewing| |Basra
Center|155|38.601.000|27.724.000|10.877.000|71 Project
Support
84 household
needs|Laundry / pastry
/ food sewing /
cleaning /
bakery| - 6 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |Karbala
Center|8|3.450.000|3.450.000|Nil|4 Project Support
2 Household
needs
2 Structural|Bread/ tailoring/
kiosks/ food
Medical
treatment
Construction
and restoration| |---|---|---|---|---|---|---| |Total|210|55.551.500|38.343.500|17.208.000|88 Project
Support
108 household
needs
2 Structural|| ## **FINANCIAL REVIEW** The Trustees have reviewed the reserves of the charity. Deficit for the year amounted to £4,903, conscientious efforts are made in keeping overhead costs down through efficiency drives. ## General Funds As at 31 December 2023 unrestricted general funds, were £83,726 represented by debtors of £9,686 cash at bank of £72,613 and creditors of £300. ## Restricted Funds ## Restricted funds held were £Nil Provision for the day-to-day operational expenses of the Charity are currently covered by the Chair. The Trustees have assessed the risks to which the charity may be exposed, and are satisfied that systems are in place to mitigate exposure to any major risk. The Trustees manage the internal and external risks to SCSS through regular reviews of the financial position and internal control environment. SCSS operates an annual planning and budgeting system Any significant changes to these plans are subject to approval by Management and Trustees. The financial reporting system compares results with these plans on a regular basis. ## _Income_ SCSS is dependent on the continuing financial support of its donors. The fundraising team implement the fundraising strategy. Sharing the plight and stories of destitute citizens in need remains a key element of our fundraising strategy, as well as additional fundraising to increase our income base. Maintaining a solid fundraising plan and professional fundraising team is a priority. ## _Recruitment_ Recruitment of suitably qualified staff is vital to support the growth of the charity. This requires consideration in terms of budget. We foresee that our monthly budget will need to be increased to provide for this. The successful outcome will depend on this. We welcome and value the support of volunteers which enables to continue to operate within a limited budget. - 7 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## _Reputation_ Damage to reputation is a risk for any organization and particularly important for a charity. Well-developed communication and safeguarding processes, both internal to SCSS and with our network partners, are key to minimizing this risk. ## _Reserve Fund :_ Senior management reduced the financial risks facing the charity through: The Reserve Fund amount was raised to £45,000. ## **FUTURE PLANS** Trustees and Management of SCSS, working together with dedicated staff and volunteers provide support and relief from suffering to disadvantaged and vulnerable citizens in Iraq. Our goals are: (a) to focus on “ _**The Child”**_ whether orphan or from a poor family, and (b) to support the humanitarian needs of families and individuals, in general, in respect of: - Food - Shelter (fit for purpose) - Hygienic living conditions - Education We plan to expand our charitable activities in Iraq, guided by the vision of Shakiry Charity for Social Solidarity. Senior management will develop an action plan based on available financial resources, covering at least five years to sustain our humanitarian efforts. A major challenge in achieving fundraising success is the need for a dedicated fundraiser to boost awareness and attract more donors. This remains a priority, although the rising cost of living has led many to seek permanent employment with guaranteed pay and working hours. ## **Fundraising Strategy for SCSS for 2024** In accordance with our charitable aims and objectives, Shakiry Charity will continue to engage with Donors to increase our humanitarian support and assistance to support needy families and individuals registered with the Branches of Al-Shakiry Charity in Iraq. We aim to increase our donations income through: 1. Expanding outreach to attract new donors via online and social media efforts. 2. Strengthening ties with long-term donors and sponsors of orphans. 3. Growing our network of stores displaying donation boxes. 4. Engaging young volunteers passionate about our humanitarian work. 5. Continuing successful seasonal campaigns like Ramadan, Eid, and key programs like “Back to School” and “Winter Warmth.” 6. Raising awareness for orphan and special needs sponsorships. - 8 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ 7. Continued research, development and upgrade of our programmes to provide vital support to families registered with one of our Branches. This will be done in cooperation between Al-Shakiry Charitable Shops and Charitable Bank Loans. 8. Promoting our educational sponsorship program for students from low-income families. 9. Supporting entrepreneurial initiatives through charitable loans for small business development. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** SCSS is a company limited by guarantee, incorporated on 7 February 2005 and registered as a charity on 31 July 2006. The company was formed under a Memorandum of Association that defines the charitable objectives and powers, and it is governed by its Articles of Association. In the event of the company being dissolved, the directors are required to contribute a sum of £10. The trustees, who also serve as directors for company law purposes, and who held office during the year and up to the signing of the financial statements, were: - Mr. Abdul Sahib Shakiry - Mr. K.A.M. A-lSharifi - Dr. Z.S. Habib The 2022 Annual General Meeting was held on 12 June 2023. The charity plans to recruit experienced trustees who can offer professionalism to guide SCSS forward. Mr. A.S. Shakiry and Mr. K .A .M .A-lSharifi, both founding members of SCSS, continue to volunteer as Trustees of the charity (Chair and Vice Chair, respectively) and remain actively involved in its day-to-day management, as they have since its inception in 2005. The board of trustees and the senior management team, comprising Mr. A.S. Shakiry, Mr. K .A .M A-lSharifi, Mr. Samir Sabih Bati, and Mrs. Layla Hussain Bati, are the key management personnel responsible for overseeing the direction, control, and operation of the charity. Trustees volunteer their time and did not receive any remuneration during the year. ## **This Trustees Report was approved by the Board of Trustees.** **________________________ _____ ____________________________________** **Signed: Abdul Sahib Shakiry** Trustee: **Signed: Kamil Abdul Mohammad Al-Sharifi** Trustee: **Dated: …………………………. Dated: …………………..........** - 9 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** I report to the trustees on my examination of the financial statements of Shakiry Charity for Social Solidarity (the charity) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **ZAM Mushtaq Ltd** Office 9 Dalton House 60 Windsor Avenue London SW19 2RR Dated: ......................... - 10 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
85,512
89,829
Charitable activities
**4**
3,763
-
Other income
**5**
422
-
**Total income**
89,697
89,829
**Expenditure on:**
Raising funds
**6**
5,406
-
Charitable activities
**7**
37,868
141,155
**Total expenditure**
43,274
141,155
**Net income/(expenditure)**
46,423
(51,326)
Transfers between
funds
(51,326)
51,326
**Net movement in**
**funds**
**10**
(4,903)
-
**Reconciliation of funds:**
Fund balances at 1 January
2023
88,629
-
**Fund balances at 31**
**December 2023**
83,726
-|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
175,341
71,799
85,177
3,763
-
-
422
76
-
179,526
71,875
85,177
5,406
4,330
-
179,023
36,397
118,720
184,429
40,727
118,720
(4,903)
31,148
(33,543)
-
(33,422)
33,422
(4,903)
(2,274)
(121)
88,629
90,903
121
83,726
88,629
-|**Total**
**2022**
**£**
156,976
-
76
157,052
4,330
155,117
159,447
(2,395)
-
(2,395)
91,024
88,629| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 11 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**14**
**Current assets**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**17**|**2023**
**£**
9,686
72,613
82,299
(300)|**£**
1,727
81,999
83,726
83,726
83,726|**2022**
**£**
5,338
81,733
87,071
(300)|**£**
1,858
86,771| |---|---|---|---|---| |||||88,629| |||||88,629| |||||88,629| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on ........................ ............................. ............................. Mr Abdul Shakiry Mr K.A.M Al-Sharifi **Trustee Trustee** Company registration number 5354695 (England and Wales) - 12 - **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** Shakiry Charity for Social Solidarity is a private company limited by guarantee incorporated in England and Wales. The registered office is 12a The Shaftesbury Centre, 85 Barlby Road, London UK , W10 6BN. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Expenditure** Expenses are included in the financial statements as they become due. Expenses include VAT where applicable as the company cannot reclaim it. - 13 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. - 14 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and gifts
85,512
89,829
Government grants
received
-
-
85,512
89,829|**Total**
Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
175,341
69,099
85,177
-
2,700
-
175,341
71,799
85,177|Total
2022
£
154,276
2,700| |---|---|---| |||156,976| ## **4 Income from charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |**Heading**||| |Gift Aid|3,763|-| - 15 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **5 Other income** ||**Unrestricted**|Total| |---|---|---| ||**funds**|| ||**2023**|2022| ||**£**|£| |Other income|422|76| |**Raising funds**||| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2023**|2022| ||**£**|£| |Fundraising and publicity||| |Volunteer expenses|5,406|4,330| ||5,406|4,330| ## **6 Raising funds** - 16 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **7 Charitable activities** ||**Charitable**|
**Charitable**| |---|---|---| ||**Expenditure**|**Expenditure**| ||**2023**|**2022**| ||**£**|**£**| |Staff costs|13,614|11,657| |Depreciation and impairment|576|620| |Website Maintenance|5,999|5,998| |Rent and rates|5,908|7,644| |Premises Insurance|243|243| |Electricity charges|733|848| |Printing, postage and stationery|711|844| |Telephone|648|500| |Cleaning|441|426| |Bank and paypal|729|806| |Sundry expenses|947|1,624| |Computer hardware and software costs|1,082|487| |Travelling Costs|1,297|-| ||32,928|31,697| |Grant funding of activities (see note 8)|141,155|118,720| |Share of governance costs (see note 9)|4,940|4,700| ||179,023|155,117| |**Analysis by fund**||| |Unrestricted funds|37,868|36,397| |Restricted funds|141,155|118,720| ||179,023|155,117| |**For the year ended 31 December 2022**||| |Unrestricted funds|36,397|| |Restricted funds|118,720|| ||155,117|| - 17 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **8 Grants payable** ||**Charitable**|Charitable Expenditure| |---|---|---| ||**Expenditure**|| ||**2023**|2022| ||**£**|£| |Grants to institutions:||| |Al Shakiry Charity - Iraq|141,155|118,720| |-||| - 18 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**9**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
-
190
Independent Examiner fees
-
1,150
Accountancy fees
-
3,600
-
4,940
Analysed between
Charitable activities
-
4,940
**10**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets|**2023**
**£**
190
1,150
3,600
4,940
4,940
**2023**
**£**
576|2022
£
-
1,100
3,600| |---|---|---| |||4,700| |||4,700| |||**2022**
**£**
620| ## **11 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **12 Employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| |Admin|1|1| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|13,511|11,560| |Social security costs|103|97| ||13,614|11,657| There were no employees whose annual remuneration was more than £60,000. - 19 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **13 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **14 Tangible fixed assets** |**14**
**Tangible fixed assets**||| |---|---|---| |**Cost**
At 1 January 2023
Additions
At 31 December 2023
**Depreciation and impairment**
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
**15**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**16**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Fixtures and fittings**
**£**
16,455
444
16,899
14,596
576
15,172
1,727
1,858
**2023**
**2022**
**£**
**£**
9,686
5,338
**2023**
**2022**
**£**
**£**
300
300|| |||16,899| |||14,596
576| |||15,172| |||1,727| |||1,858| |||**2022**
**£**
5,338| |||**2022**
**£**
300| ## **17 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At**|**1**|**January**|**Incoming**|**Resources**|**Transfers**|**At 31**| |---|---|---|---|---|---|---|---| ||||**2023**|**resources**|**expended**||**December**| ||||||||**2023**| ||||**£**|**£**|**£**|**£**|**£**| |General funds|||88,629|89,697|(43,274)|(51,326)|83,726| - 20 - ## **SHAKIRY CHARITY FOR SOCIAL SOLIDARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**17**|**Unrestricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**Transfers**|**At 31**| |||**2022**|**resources**|**expended**||**December**| |||||||**2022**| |||**£**|**£**|**£**|**£**|**£**| ||General funds|90,903|71,875|(40,727)|(33,422)|88,629| ## **18 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 21 -