Charity registration number 1115625 (England and Wales) SHAKIRY CHARITY FOR SOCIAL SOLIDARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY LEGALAND ADMINISTRATIVE INFORMATION Trustees MrAbdul Shakiry Mr K AL-Sharifi Dr Z S Habib Mr Ali Alshakri Dr Jaafar Hussain (Appointed 15 October 2024} (Appointed 10 July 2024) Charity number (England and Wales> 1115625 Registered office Unit 1 Freetrade House Lowther Road Stanmore HA7 1EP Independent examiner ZAM Mushtaq Ltd Office 9 Dalton House 60 Windsor Avenue London SW19 2RR
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY CONTENTS Page Trustees, report 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) (CONTINUED) For the year ended 31 December 2024 The Trustees present their report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financi21 statements and comply with the cliarity's govemii)o dociiment. the Cliarities Act 201 l and "Accouiitints and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance witli the FiT)ancial Reporting Standard applicable in tlie UK and Republic of Ii-eland (FRS I O?):" (as amended for accounting periods commencing from l January ?019}. OBJECTIVES AND ACTIVITIES Shakiry Charity for Social Solidarity (SCSS) objectives are to provide support to: Al Shakiry Charity for Social Solidarity (ASCSS) 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 providino infonnation, guidance, training and technical and professional support and assistance. Relief of Poverty.. The prevention or relief of poverty in Irdq and among Iraqi communities (in particular widows and orphans, the sick, disabled, elderly and intemally forced displaced people) by providing.. sponsorship, financial support and services to i ndividua5s 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 cornmunities in Iraq and London in such a way that they are better able to identity. and help meeL their needs and to participate more fully in society- Social Inclusion: To promote social inclusion for the publi¢ benefit of communities in Iraq by preventing people from becorning 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 froin our volunteers both in London and Iraq. It enables us to work within a minimum budget and save on avoidable administration expenses. Durino ?0?4, eight volunteers supported the activities of our office. Their combined input (in the cateuories below) amounted to an accumulated 1089 volunteering hours. which represented a saving to the Charity's resources of approximately £1 0.798.00 Category Volunteers per sector 2024 Volunteer hours per sector 2024 Fundraising 36
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 Administration Finance Translations Media Mana ement istics 494 40 1?8 188 80 1?3 1089 hours TOTAL 8 Volunteers ACHIEVEMENTS AND PERFORMANCE SCSS London is responsible for the professional day-to-day rnanagement. administration. and operation of the charity 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 disadvanta(Fed 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 ?010) 2. Bayaa Branch (opened in June ?0 l O) 3. Sadr City Branch (opened in November ?0 I l ) 4. Grayaat Branch (opened in March 201 ?) 5. Basra Branch (opened in September ?015) 6. Karbala Branch (opened in October ?0? l) SCSS Branches provide vital support to homeless. destitute, and ill or disabled individuals. Families and individuals must register with a Branch to qualify for assistance. Once an application is lodged, staff and volunteers conduct a hoine visit to assess living conditions, followed by regular visits to monitor well-being. Our fundraising is designed to raise awareness and provide essential support, particularly where governinent services in Iraq are inadequate. Weekly Special Appeals hiohlight urgent needs for families or individuals and are published on our website.. www.shakirycharity.org We rnaintain transparent record-keeping, with donors and beneficiaries assioned a unique lifelong registration number, and each Appeal given an individual Help Number 10 track donations from contribution to recipient. In Iraq, Branches work within communities to prornote training programmes that teach life skills, helping individuals become self-supportive. SCSS London provides guidance and support to Branches and Charity Shops to ensure the charity's objectives are iinplemented effectively. In London, our community progrdmmes foster social inclusion and capacity building within the Iraqi community through social events. trainingJ. and workshops.
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 Fundraising activities In ?024, we focused on improving and raisino our fundraising profile and activities. Throuoh the hard work and tenacity of our fundraisino department and the oenerosity of benevolent donors, we raised £138,9?5 Special Appeals. featured on our website, supported the following fundraising programmes- a. Collections of good-quality second-hand clothing {in-kind donations that were sent to Iraq). b. Our Winter Warn]th Programme provided blankets and winter clothes to ?50 families in Iraq. Our Back io School Prograinme enabled children from poor homes to continue to attend school and receive an education. Donations covered the costs for children to travel to school, receive school unifornis and shoes, as well as schoolbooks and stationery. The ASCSS Charity Shop Programme in Iraq continiies to thrive. meeting community needs in providin(r food, hygiene products, clothing, household goods. and appliances. This initiative is linked to OUT SCSS VOLicher system, which enables needy families reoistered with a Branch to receive and redeem vouchers at the charity shops. Each shop is affiliated with one of our six ASCSS Branches in Iraq, to ensure that we meet the basic needs and well-being of destitute families. Any surplus income generated by a charity shop supports the monthly expenses of its associated Branches. CORE PROJECTS FUNDED AND MANAGED BY SCSS Individual Relief Sponsorinq orplians aniL/or disabled cliildren b. SpecialAppertl.s Sriident Siipporl 2. Group Relief a. Food und Clniliing b. Hoiiseliold NeLessities 3. Charity Bank This programme encourages and facilitates loans to entrepreneiirial individuals. It enables them to learn a trade and develop home cottage industries to earn an income and support themselves and their dependents. PROJECTS l. IndivAdual Relief .fpvp7.iofikF¥ C)Ip/FL117S cincl/oi- di.sabl#d c17ildren £?1,919 (approx. IQD 36,604.7)0*) was raised to sponsor over 73? orphaned familiesldisabled children from destitute fainilies. Usually, families in Iraq are large with 4-5 children per household. Sponsorship is 50,000 IQD (approx. £30). This amount supports at least two children family.
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 ,gpL)L'iul Appe(Ils £9,944 (approx. IQD 16.606,480) was received in response to Special AppealsfNewsletters featured on our website. Appeals constituted requests for financial support from individuals and families in irnmediate and desperate need of emergency help. Sponsor a SriideJ?r ProRI'amFriL This Prooramme is currently dormant. Group Relief Food ciiid Cloiliino The Food and Clothing Voucher system provides children and families registered with a Branch with a book of l O vouchers to provide for their needs. The total value is £JO (IQD 50,000). Vouchers are redeemed at SCSS shops. Families use these vouchers to buy food and goods according to their household needs. During ?024, the total amount raised for Group Relief was £29,?8? (approximately IQD 48,900.940). The total number of faTnilies provided for was 978. 2. Charity Bank for Small Businesses The Charity Bank (Fund) provides interest-free loans to destitute and unemployed citizens, with a particular focus on supporting women. The Fund actively promotes and facilitates opportunities for individuals to learn a skill, acquire essential equipment and materials, and genernte income by producing and selling marketable ooods. To qualify for a loan. applicants must Tneet specific eligibility criteria. Repayments are typically made in monthly instalments for l ? to 24 months, depending on the loan amount. During ?0?4, a total of ?03 loans. with a total value of £33,309 (approx. IQD 55.6?6,030 . were approved by Al Shakiry for Social Solidarity (ASCSS) in Iraq aT)d trranted under the Charity Bank for Small Businesses Program. The current capital of the Charity Bank (held by Al Shakiry for Social Solidarity (ASCSS) in Baghdad) is £ 9,855 (approximately IQD 16,457.850* Note: Avera(re Rate of Exchange during this financial year was IQD 1670= £1.00. ? Exchange rates fluctuate throughout the year. Iherefore. there might be some differences when converting Pound Sterling to Iraqi Dinars, and vice versa. 3. From time to time. we transfer a higher amount than the actual donations we receive. This is paid from SCSS unrestricted donations account. MANAGING CHALLENGES I. SCSS remains committed to ensuring that l OOO/o of donations are sent lo beneficiaries in Iraq. Administrative costs in London al-e covered by monthly donations from Thaines House Pi-operties and annual Gift Aid Teimburseiments. which play a sigiiificant role in our tinaneial accountin( We continue to minimize looistic and administrative costs by engaging volunteers and relyino on our Trustees, voluntary expeitise. 3. To redLice costly exchange rates and bank. fees, we Lise money transfer bureaux. ensuring that beneficiaries receive the fiill donations wliile miniinizing transaction costs.
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 4. Sliakiry Charity for Social Solidarity Ivas reconstituted as a Charitable Incorpordted Organization (CIO} on 25 September ?0?4. Report on the Joint Activities between Shakiry Charity for Social Solidarity (SCSS), London, and Al Shakiry Charity for Social Solidarity (ASCSS) and its Branches (Iraq) for 2024, under the guidance of the London office. Senior management at Shakiry Charity for Social Solidarity (SCSS) conducted a comprehensive review of strategic plans to address declining donations in London and reduced local contributions in Iraq. Branch staff were instructed to increase attendance, enoa(re families directly, and strengthen operational follow-up. Key Actions and Achievements: Administrative Review: Records were updated, and field visits conducted to reassess registered families. This ensured aid reached those still in need and allowed support to be redirected from self-sufficient households. Community Outreach: Branches expanded engaoement with local businesses and potential donoTS through awareness campaigns and brochures, resulting in Stronger community ties and new donor interest. Donor Relations: Reoular communication via phone: email. and social media improved donor relationships and reinforced appreciation for their support. Transparency: Humanitarian Tesults were published online in Arabic and English, increasing visibility and accountability- Unified Online Presence: All SCSS Facebook pa(res were merged into one official account, improving communication and reaching over ?0,000 followers. New Headquarters: A pennanent head office, donated by Mr. Abdul Sahab Shakiry, was established as a central hub for humanitarian and cultural activities. Eeonomie Sustainability: Talks with state factories continue to secure essential goods at reduced costs and explore sustainable income-generating initiatives to lessen reliance on donations. Government Relations= Strengthened collaboration with Iraqi state institiitions led to confirniation of SCSS'S leglal status by the Ministy of Labour. Governance: The Board of Directors in Iraq expanded from three to seven members, enhancing management capacity. Branch Operations: The Karbala Branch remains temporarily suspended pendiniJ approval of an updated internal system allowing new branches across Iraq. Bankinu Development: Coordination with the Iraqi Trade Bank continues to open a USD account to facilitate international transactiOT]s froim London. Charity Bank Fund: Continued success in supporting small home-based businesses through interest-free microloans. helping tamilies achieve financial independence.
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 Overall: SCSS strengthened governance, transparency, and Community enga(rement while laying the foundation for long-term sustainability and greater humanitarian impact. Table l- Reuistered needy families (Iraq) 2024 Total new famity mernbers Families registered with the BraDeh since its establishment. 425 1?79 Branches New Families 2024 ,,2024. Bayaa Grayaat 00 00 Z Sadr City Najaf Basra Karbala ?5 90 124 ?19 345 854 00 00 159 TOTAL 107 464 3693 Table 2: Donations (cash and in-kind) received by ASCSS and its Branches 2024 Branches In-kind donations {Iraq) IQD 3.000.000 Cash donations Ilraq} IQD ?.650.000 Cash donations from London IQD 16.440.000 Total donations IQD Bayaa 21.630.000 Grayaat 000.000 000.000 ?.3 50.000 ?.310.000 Sadr City 2.690.000 2.201.000 34.625.000 39.516.000 Najaf 8.270.000 13.8?3.000 19.?40.000 41.333.000 Basra 6.)68.000 15.900.000 3?.210.000 54.478.000 Karbala 310.000 670.000 5.7?0.000 6.700.000 Total IQD 20.638.000 35.244.000 110.545.000 166,427.000 TOTAL £ 12J58 21,104 66,195 99,657 Table 3: Charity Bank Loan Schedule: Finaneial Assistance and Project Funding (to Families in Need) 2024 Branches Total Total Loan Amount loans ,' value paid by IQD Beneficiary IQD Balance clf to 2025 IQD Type of loans Deseription of small projects
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 ?.000.000 1.750.000 ?50.000 I Project Support l Medical Treatment Food production Medical treatment Grayaat Sadr City 000 1 ?.57?.000 ? 0?5.000 547.000 I Project Support I l Household Needs ? Medical Treatment 16 Project Support Food production 34 19.003.500 4.219.500 4.784.000 Kiosks I Pastries Laundry l Food | Sewin(y 1 18 Household Needs 61 Project Support 84 Household Needs Basra 38.601.000 1 ?7.724.000 10.877.000 Laundryl PastrieslFoodl I Cleaning / Karbala 3.450.000 1 3.450.000 0.000.000 4 Project Support Bakery I Sewing / Kiosks Food Project Medical Treatment Construction and Renovation j ? Household Needs Construction TOTAL 203 55,626,500 39,168.500 16,458,00 88 Project Support 108 Household Needs 2 Construction £ 33J09.00 £ 23,454.00 £ 9,855.00 FINANCIAL REVIEW General Funds As of 31 December ?024, funds were £83.798, represented by debtors of £18,901 cash at the bank of £94,169 and creditors of £31,167 Monthly donations from Thames House Properties supported the day-to-day operational expenses of the Charity. The Trustees have assessed the risks to which the charity Inay be exposed. and are satisfied that systems are in place to mitigate exposure to any major risk. The Trustees manaoe the inrernal and external risks io SCSS through regular reviews of the financial position and internal control environrnent. SCSS operates an annual planning and budgeting system Any significant chaniJes to these plans are subject to approval by Mana(Fement and Trustees. The financial reporting system compares results with these plans. Income SCSS depends on the continuing financial support of Donors. The fundraising team implements the fundraising strategy. Sharing the plight and stortes of destitute citizens in need remains a key
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 elernent of our fundraisin(r strate. as well as additional fundraising to inCree our income base. Maintaining a solid fundraisin(r plan and a professional fundraising tearn is a priority- Recrnitment Recruitment of suitably qualified staff is vital to support the urowth of the charity. This requii-es consideration in terms of the budiJet. Our rnonthly budtset will need to be increased to provide for this. Tl)e successful outcome will depend on this. We welcorne and value the support of volunteers, which enables Shakiry Charity to continue to operate within a limited budget. Reputation Darnage to reputation is a risk for any oroanization, and is particularly important for a charity. Well-developed communication and safeguarding processes, both inten)al to SCSS and with our network partners, are key to miniinizing this risk. Reserve Fund: The Reserve Fund arnount is £46.356 (Represents principal arnount of £45,000.00 plus accrued interest of £1.356.00} FUTURE PLANS Trustees and Management of SCSS, tooether with dedicated staff and volunteers. provide support and relief from suffering to disadvantaged and vulnerable citizens in Iraq. Our ooals are: (a) to focus on "'Tlie Child- whether orphan or from a poor fainily, and (b) to support the humanitarian needs of families and individuals, in general, in respect of= Food Shelter (fit for purpose) Hyoienic living conditions Education Fundraising Strategy for SCSS for 2025 Shakiry Charity for Social Solidarity (SCSS) remains committed to supporting vulnerable families across Iraq throuoh coinpassionate and consistent fundraising efforts. Led by our London management team, we aim to strengthen donor engagement and expand outreach. After our current lease ends, we plan to relocate to a more accessible London office to boost volunteer participation and donor relations. Digital fundraising will be expanded through our website, social media, and wider distribution of donation boxes.
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) For the year ended 31 December 2024 We will Inobilize young volunteers-both woinen and men-to SLlPPOrt seasonal campaigns like Ra]nadan. Back-to- School, and Winter Warnith. Efforts will focus on increasing orphan sponsorships, supporting families with special needs, and empowering individuals through interest-free microloans for home-based businesses. To sustain growth, we aim to partner with skilled fiindraising professionals or finns to manage year-round donation caimpaigns. Despite volunteer challenges, our vision remains strong.. to expand SCSS'S hunianitarian iinpact throu1 strategic planT)ing, financial sustainability, and community-driven action. STRUCTURE. GOVERNANCE, AND MANAGEMENT Shakiry Charity for Social Solidarity. incorporated on 7 February ?005, registered as a charity on J l Jiily 2006, and forinerly a company limited by guarantee. changed its striictlire to a Charitable liicorporated Organization (CIO) on ?5, September ?0?4. OLir MemorandLim of Associatioii defines the charitable objectives and powers of the Charity. In the event of the company being dissolved, the directorslmembers are required to contribute a sum of £ l O. Tnistees. who served as Directors (for company law purposes), and who are now the Members. under the new CIO strLlCture, are- Mr. Abdul Sahib Shakiry Mr. Kamil Al- Sharifi Dr. Z.S. Habib Mr Ali Alshakri (J'oined 1511012024) Dr Jaafar Hussain (J'oined 1010712024) Tlie 2024 AGM was held on 15 October 2024, during which two new Trustees joined, bringing valuable expertise and professional insigl)t. Foundino members Mr. A.S. ShaLiry (Chair) and Mr. K. Al-sharifi (Vice Chair) continue to serve actively as Trustees. The Board of Trustees and Senior Manaoement Team {SMT)-comprisintr Mr. Shakiry. Mr. Al-shartfi, Mr. Samir Sabih Bati. and Mrs. Layla Hussain Bati-oversee the charity's operations and strdtegic direction. All Trustees serve voILintarily and receive no rernuneration. This Trustees, Annual Report was presented and approved by the Board of Trustees. Signed: Kamil Al-sharifi Trustee.. ..1.7..:..1.0....2..S Dat¢d:
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHAKIRY CHARITY FOR SOCIAL SOLIDARITY I report to the Iruslees Dn my examination of the financial slalemenls of Shakiry Charity for Social Solidarity (the charity) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's ffnancial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have fo51owed the Directions given by the Charity Commission under section 14515){bl Df the Charities Act 2011. Independent examiner's statement Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordan with the Fin2ncial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Pr8Ctice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understsnd that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. 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". accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial stslements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form 8nd content of financi81 statÈments set out in the Charities (Accounts and Reports) Regulations 2008 Dther than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. 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 WindsorAvenue London SW19 2RR Date..
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestrieted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other income 65,620 11,394 707 61,204 126,824 11.394 707 85,512 3,763 422 89,829 175,341 3,783 422 Total income 77,721 61,204 138,925 89,697 89,829 179,526 Expenditure on: Raising funds Charitable 8Ctivities 3,973 55,033 3,973 134,880 5,406 37,868 5,406 179,023 79,847 141,155 Totsl expendtture 59,006 79,847 138,853 43,274 141,155 184,429 Net incomellexpenditure) 18,715 {18,643} 72 46,423 (51.326) 14,9031 Transfers beeen funds 118,6431 18,643 151,3261 51,326 Net movement in funds 10 72 72 14,903) {4,9031 Reconciliation of funds: Fund balanS at 1 January 2024 83,726 83,726 88,629 88,629 Fund balances at 31 December 2024 83,798 83,798 83,726 83,726 The statement of financial aclivilies 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 A T 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 14 1,895 1,727 Current assets Debtors Cash at bank and in hand 15 18,901 94,169 9,686 72,613 113,070 82,299 Creditors.. amounts falling due within one year 16 (31,167} 13001 Net current assets 81.903 81,999 Totsl assets less current liabilities 83,798 83,726 The funds of the charity Unrestricted funds 17 83,798 83,726 83,798 83,726 The finanaal statements were approved by the trustees on ....... 7-10.25 Mr K AL-Sharifi Trustee 12
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information Shakiry Charity for social Solidarity is a Charitsble Incorporated Organisation ICIOI. 1.1 Accounting convention The financial statements have been prepared in accordan with the charity's governing document, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordanTr with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" las amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity a5 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 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial ststements are prepared in steding, 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, Imodified to include the revaluation of freehold properties and to include investrnent properties and rtain financial instruments at fair valuel. The principal accounting policies adopled 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 resourcès to continue in operational existen 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 Unreslricled 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 donorg or gr8ntors as to how they may be used. Th 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 maintsined by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any perf0mlan 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 performan 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. 13
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {Continued) 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. 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 250/0 on cost The gain or loss arising on the disposal of an asset is determined as the difference bebmeen the sale proceeds and the carrying value of the 2sset, and is recognised In the statement of financial activities. 1.7 Impairrnent of fixed assets At each reporting end date, the charity reviews the carrying amounts of ils 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 lif 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 paty to the conlraclual 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 pri including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangernent ¢onstitutes a financing transaction, where the transaction is measured at the present value of the future reTripts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14-
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {Continued) 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 me2sllred at the present value of the future payments discounted at a market rale 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. Tmde creditors are Cibligations to pay for goods or servi$ thal have been acquired in the ordinary course of operations from suppliers. Amounts P2yablÈ are c12ssifiÈd 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. 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 temiinale the ernployment of an employee or to provide lemination benefits. 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 estimatss 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. Donations and legacies Unrestricted Restricted funds funds Total Unrèstricted funds Restricted funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts 65,620 61,204 126.824 85,512 89,829 175,341
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestricted funds 2024 Unrestricted funds 2023 GiftAid GiftAid 11,394 3,763 Other income Unrestricted funds Total 2024 2023 Other income 707 422 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraisin and ublici Volunteer expenses 3,973 5.406 3,973 5,406 16
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activities Charitable Charitable Expenditure Expenditure 2024 2023 Staff ¢osts Depreciation and impairment Website Maintenan Rent and rates Premises Insurance Electricity charges Printing, postage and stationery Telephone Cleaning Bank and paypal Sundry expenses Computer hardware and software costs Travelling Costs 10,634 632 5,999 27,129 243 1,040 542 1,045 180 718 1,197 947 27 13,614 576 5,999 5,908 243 733 711 648 441 729 947 1,082 1,297 50,333 32,928 Grant funding of activities (see note 81 Share of governance costs (see note 91 79,847 4,700 141,155 4,940 134,880 179.023 Analysis by fund Unrestricted funds Restricted funds 55,033 79,847 37,868 141,155 134.880 179,023 For the year ended 31 December 2023 Unreslricled fLJnds Restricted funds 37,868 141,155 179,023
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SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs Support Governance costs costs 2024 2023 Legal and professional Independent Examiner fees Accountancy fees 190 1,150 1,100 1,100 3,600 3,600 3,800 4,700 4,700 4,940 Analysed beeen Charitable activities 4,700 4,700 4,940 10 Net movement in funds 2024 2023 The net movement in ftjnds is stated after chargingllcrediting).. Fees payable for the independent examination of the charity's financial statements Deprèciation of owned tangible fixed assets 632 576 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.. 2024 Number 2023 Number Admin Employment costs 2024 2023 Wages and salaries Social security costs 10,440 194 13,511 103 10,634 13,614 There were nts employees whose annual remuneration was more than £60,000.
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 Tangible fixed assets FÈxtures and fittings Cost At 1 January 2024 Additions 16,899 800 At 31 December 2024 17,699 Depreciation and impairment At 1 January 2024 Depreciation charged in the year 15,172 632 At 31 December 2024 15,804 Carrying amount At 31 December 2024 1.895 At 31 Dember 2023 1,727 15 Debtors 2024 2023 Amounts falling due within one year: Other debtors 18,901 9,886 16 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 30,887 300 300 31.167 300 -20-
SHAKIRY CHARITY FOR SOCIAL SOLIDARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 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 2024 Incoming resources Resources expended Transfers At31 December 2024 General funds 83,726 77,721 159,006) 118,$431 83,798 Previous year: At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 General funds 88,629 89,697 143,2741 151,326) 83,726 18 Related party transactions There were no disclosable related paty transactions during the year12023 - none). 21