Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
Qismat Trust
Company Registration Number: 07934014 Charity Registration Number: 1146695
(A company limited by guarantee)
Annual Report and Financial Statements
for year ended 28 February 2025
~~1 ce i,~~
Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
Administrative Details
The Management Committee presents its directors’ report and audited financial statements for the year ended 28 February 2025.
Charity Name: Qismat Trust
Website: www.qismat.org
Trustees / Directors:
Peter Matthews Antonio Arenas Lopez
Other Officers:
Daniel BenDavid, Advisory Council Mathew Ledvina, Management Committee
Staff Members:
Ilyan Kovatchev, Staff Member Yolanda Barreras, Staff Member Mallissa Edward, Employee Aiden Boyle, Employee Alex Kay, Staff Member Alex Nikolov, Staff Member Lukasz Zawitkowski, Staff Member
Principal Office:
Third Floor Rear 70-72 Jermyn Street London SW1Y 6PF United Kingdom
Company Registration Number: 07934014
Charity Registration Number: 1146695
Incorporation: The Charity is incorporated in United Kingdom
Bank: HSBC, Stratford 59-61 The Mall, Stratford Centre, London E15 1XF
Auditors: Claudia Patricia Giraldo Castaneda FCCA, Xtrategy, Unit 8 Holles House, Overton Road, London SW9 7AP
Solicitors: Scornik Gerstein LLP, 9-10, Staple Inn, Holborn, London WC1V 7QH
Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
Structure, Governance and Management
Qismat Trust is governed by its Memorandum and Articles of Association and is constituted as a charitable company limited by guarantee. The Trustees are responsible for the overall governance and strategic direction of the charity, ensuring that it operates in accordance with its charitable purposes, governing document, and applicable law and regulation.
Trustees are appointed in line with the charity’s governing document. New Trustees receive an induction covering the charity’s objectives, governance responsibilities, financial oversight, and regulatory obligations. Ongoing training and briefings are provided as required.
The Trustees meet regularly and delegate day-to-day operational management to staff and advisers, while retaining oversight of strategy, finance, risk management, and compliance. All Trustees serve in a voluntary capacity and receive no remuneration for their services.
Objectives and Activity
Qismat Trust exists to advance public benefit by supporting philanthropic, humanitarian, and development-focused initiatives that align with the United Nations Sustainable Development Goals (SDGs). The charity focuses on fostering social impact through collaboration, innovation, and responsible use of technology.
In setting objectives and planning activities, the Trustees have had due regard to the Charity Commission’s guidance on public benefit. The charity’s activities are designed to deliver positive social outcomes by strengthening the capacity of charitable organisations, encouraging responsible investment in social initiatives, and promoting inclusive and sustainable development.
During the year, the charity’s principal activities were delivered through its core programmes:
-
Qismat Impact Hub , which facilitates collaboration between donors, social enterprises, and charitable organisations; and
-
Youmanity.me , a developing digital platform intended to improve transparency, engagement, and access to charitable causes.
Achievements and Performance
During the year ended 28 February 2025, Qismat Trust continued to focus on consolidating and strengthening its core activities.
~~3~~
Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
The Qismat Impact Hub remained the charity’s primary area of activity, supporting partnerships between philanthropists, purpose-driven businesses, and charitable initiatives. Resources were directed toward advisory support, project development, and relationship building aimed at generating sustainable social impact.
Development work on Youmanity.me continued during the year. Progress was made in refining the platform’s functionality and security; however, development timelines were carefully managed to ensure that expenditure remained proportionate to available resources. The Trustees adopted a prudent approach, prioritising long-term viability and alignment with charitable objectives.
Project Update: Harnessing Real Estate for Social Change
Fractional Real Estate for Social Good
Qismat Trust continues to advance its innovative approach of fractional real estate in partnership with Brydg Capital Ltd. By dividing ownership of properties into smaller, more accessible units, this model allows a wider group of individuals and organizations to invest in real estate with a lower financial barrier. This approach remains central to our charitable mission, supporting efforts to address housing inequality, financial inclusion, and sustainable development.
Increasing Access to Affordable Housing
Over the past year, we have explored opportunities to apply fractional ownership to develop or acquire affordable housing units for underserved communities. Early discussions and project evaluations are underway to pool investments into housing initiatives that provide safe, stable, and affordable accommodation for low-income families, with the goal of reducing housing insecurity.
Promoting Economic Empowerment
Qismat Trust has begun designing programs to support individuals historically excluded from property ownership. Through fractional ownership, participants gain the opportunity to build wealth, generate passive income, and achieve greater financial stability. Initial engagement efforts include workshops and guidance sessions to educate beneficiaries on participation and benefits, laying the foundation for long-term economic empowerment.
Supporting Community Infrastructure
We are actively identifying community infrastructure projects, such as schools, clinics, and renewable energy initiatives, that could benefit from fractional investment. By enabling multiple stakeholders to co-invest in socially beneficial developments, this model channels resources directly into projects that enhance the quality of life for local communities.
~~4~~
Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
Financial Literacy and Inclusion
Recognizing that knowledge is key to empowerment, Qismat Trust has begun integrating financial literacy components into the initiative. Participants are being guided on the risks, opportunities, and long-term potential of fractional real estate ownership, fostering informed decision-making and greater financial inclusion.
Encouraging Sustainable Practices
Sustainability remains a core principle. Together with Brydg Capital, we are prioritizing projects that incorporate green building technologies, renewable energy, and sustainable urban planning, in alignment with the United Nations Sustainable Development Goals.
Developing Charitable Investment Funds
We are exploring the creation of charitable investment funds that allow donors and investors to contribute toward large-scale social projects. These funds aim to generate returns that can be reinvested into future initiatives, establishing a sustainable cycle of social impact.
Future Outlook
The collaboration between Qismat Trust and Brydg Capital is progressing steadily. By leveraging fractional real estate to achieve charitable objectives, we are building an inclusive model that enables individuals of diverse financial means to participate in and benefit from transformative social projects. Plans for the coming year include launching pilot initiatives, expanding community engagement, and monitoring impact to ensure scalable, long-term results.
BRYDG
Financial Review
Financial Performance
For the year ended 28 February 2025, the charity reported total income of £213,033 (2024: £123,529), all of which related to unrestricted donations. Total expenditure for the year amounted to £156,037 ( 2024: £131,910), resulting in a net surplus of £56,996 (2024: deficit of £8,381).
Expenditure on charitable activities totalled £155,662 , reflecting continued investment in the Qismat Impact Hub and the development of Youmanity.me. Support and governance costs were monitored closely to ensure effective stewardship of charitable resources.
Overall, the Trustees consider that the charity made steady progress during the year, with activities delivered in line with its objectives and within its financial capacity.
~~5~~ | ~~po~~
Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
Financial Position
At 28 February 2025, total funds amounted to £93,002 (2024: £36,006). All funds held were unrestricted and available to support the charity’s ongoing activities.
Reserves Policy
The Trustees have established a reserves policy aimed at maintaining sufficient unrestricted reserves to cover approximately three months of core operating costs. At the year end, reserves were considered adequate and consistent with this policy. The Trustees will continue to review the reserves position regularly in light of planned activities and financial commitments.
Going Concern
The Trustees have reviewed the charity’s financial forecasts and cash flow position and are satisfied that the charity has adequate resources to continue operating for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
Risk Management
The Trustees regularly review the principal risks facing the charity, including financial sustainability, operational capacity, and reputational risk. Appropriate controls and mitigation strategies are in place, and the risk register is reviewed periodically to ensure emerging risks are identified and managed.
No serious incidents occurred or were required to be reported to the Charity Commission during the year.
Forward Plannin g
Looking ahead, the Trustees intend to:
-
Continue developing and refining the Youmanity.me platform in a controlled and financially prudent manner;
-
Strengthen the Qismat Impact Hub by deepening partnerships with donors and charitable organisations;
-
Explore new initiatives that support inclusive economic development and social impact, subject to available funding; and
-
Maintain a strong focus on governance, financial sustainability, and public benefit.
~~6~~
Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Trustees’ Report
The Trustees remain committed to ensuring that future activities are aligned with the charity’s objectives and deliver measurable public benefit.
Public Benefit Statement
The Trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit. The charity’s activities during the year were undertaken to advance its charitable purposes and to provide benefit to the public through support for social impact initiatives, capacity building, and the promotion of sustainable development.
Statement of Trustees’ Responsibilities
The Trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records, safeguarding the assets of the charity, and taking reasonable steps to prevent and detect fraud and other irregularities.
Approved by the trustees of the charity on 18 December 2025 and signed on their behalf by:
.......................................................................
Mr. Peter Patrick Matthews Director / Trustee
~~7~~
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
Charity number: 1146695 Company number: 07934014
(England and Wales)
QISMAT TRUST
Report of the Trustees and Unaudited Financial Statements
For the year ended 28 February 2025
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST Contents Page For the year ended 28 February 2025
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 |
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST
Report of the Trustees For the year ended 28 February 2025
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the Charitable Trust for the year ended 29 February 2020. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit : running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
PLEASE SEE DETAILED TRUSTEES' ANNUAL REPORT ON APPENDIX ONE
REFERENCE AND ADMINISTRATIVE INFORMATION
| Name of Charity | QISMAT TRUST | QISMAT TRUST |
|---|---|---|
| Charity registration number | 1146695 | |
| Company registration number | 07934014 | |
| Principal address | Third floor |
rear |
| 70-72 Jermyn St | ||
| London | ||
| SW1Y 6PF | ||
| Registered address | Third floor rear | |
| 70-72 Jermyn St | ||
| London | ||
| SW1Y 6PF | ||
| Trustees | ||
| The trustees and officers serving during the year and since the year | end were as follows: | |
| Antonio Ernesto Arenas LOPEZ | ||
| Peter Patrick MATTHEWS |
1 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST
Independent examiners
Claudia Patricia Giraldo Castaneda FCCA
Unit 8 Holles House
Overton Road London SW9 7AP
Bankers
HSBC Bank Stratford Branch 59-61 The Mall Stratford Centre London
Approved by the Board of Trustees and signed on its behalf by,
Peter Patrick MATTHEWS
2 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST
Independent Examiners Report to the Trustees
For the year ended 28 February 2025
I report to the trustees on my examination of the accounts of the charitable company for the year ended 28 February 2025.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the entity 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 your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the 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
-
the accounts 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 accounts to be reached.
Claudia Patricia Giraldo Castaneda FCCA Unit 8 Holles House
Overton road London SW9 7AP
10[th] September 2025
3 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 28 February 2025
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Total Expenditure on: Raising funds 4 Charitable activities 5/9 Total Net income/expenditure Reconciliation of funds Previous year adjustment Total funds brought forward Total funds carried forward |
2025 2024 £ £ 213,033 123,529 0 0 |
2025 2024 £ £ 213,033 123,529 0 0 |
|---|---|---|
| 213,033 | 123,529 | |
| (375) (155,662) |
(180) (131,730) |
|
| (156,037) | (131,910) | |
| 56,996 93,002 93,002 |
(8,381) 44,387 36,006 |
4 of 9
Registered Number : 07934014
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST Statement of Financial Position
As at 28 February 2025
| Notes | Notes | 2025 | 2024 | |
|---|---|---|---|---|
| £ | £ | |||
| Fixed Assets Tangible assets |
10 | 1,936 |
1,067 | |
| 1,936 | 1,067 | |||
| Current assets | ||||
| Debtors | 11 | 21,982 | 0 | |
| Cash at bank and in hand | 62,153 | 29,967 | ||
| VAT Liability | 7,690 | 5,163 | ||
| 91,825 | 35,130 | |||
| Creditors: amounts falling due within one year | 12 | (759) | (191) | |
| Net current assets | 91,066 | 34,939 | ||
| Total assets less current liabilities | 93,002 | 36,006 | ||
| Net assets | 93,002 | 36,006 | ||
| The funds of the charity | ||||
| Unrestricted income funds | 93,002 | 36,006 | ||
| Total funds | 93,002 | 36,006 | ||
| For the year ended 28 February 2025 the company | was entitled to exemption from | audit under section 477 of |
the Companies | |
| Act 2006 relating to small companies. |
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
-
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved and authorized for issue by the Board and signed on its behalf by:
Peter Patrick MATTHEWS Trustee
5 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST Notes to the Financial Statements
For the year ended 28 February 2025
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2015)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
QISMAT TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
2. Income from donations and legacies
| Unrestricted funds Donations received |
2025 £ 213,033 213,033 |
2024 £ 123,529 123,529 |
|---|---|---|
3. Income from charitable activities
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Unrestricted funds | ||
| Income from charitable | 0 | 0 |
| activities |
4. Expenditure on generating donations and legacies
| Unrestricted funds Fund raising |
2025 £ 375 375 |
2024 £ 180 180 |
|---|---|---|
6 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST Notes to the Financial Statements Continued For the year ended 28 February 2025
5. Costs of charitable activities by fund type
| Unrestricted funds Qismat Impact Hub Youmanity.me Support costs |
2025 £ 103,414 52,248 155,662 |
2024 £ 72,651 567 58,511 131,730 |
|---|---|---|
6. Costs of charitable activities by activity type
| Activities | Support | |||
|---|---|---|---|---|
| Undertaken | costs | 2025 | 2024 | |
| Directly | ||||
| £ | £ | |||
| Support costs | ||||
| Qismat Impact Hub | 103,414 | 52,248 | 155,662 | 131,730 |
| Youmanity.me | 0 |
7. Analysis of support costs
| Management & Admin IT & Computer Costs Professional & Legal Fees Refreshments & UK Entertainments Maintenance |
2025 £ 45,665 0 0 408 6,175 52,248 |
2024 £ 54,852 0 3,103 556 0 58,511 |
|---|---|---|
8. Net income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation of owned fixed assets
| 2025 | 2024 |
|---|---|
| £ | £ |
| 596 | 778 |
7 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
QISMAT TRUST
Notes to the Financial Statements Continued For the year ended 28 February 2025
9. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activities are for unrestricted funds.
10. Tangible fixed assets
| Cost or valuation At 01 March 2024 Additions At 29 February 2025 Depreciation At 01 March 2024 Charge for year At 29 February 2025 Net book values At 29 February 2025 At 28 February 2024 Debtors Amounts due within one year: Trade debtors Prepayments and accrued income Other debtors Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
Fixtures and Fittings £ 3,470 1,464 4,934 2,403 595 2,998 1,936 1,067 |
Computer Equipment £ 38,776 |
Total £ 42,246 1,464 43,710 41,179 595 41,774 1,936 1,067 2024 £ 0 0 0 0 2024 £ 0 0 0 |
|---|---|---|---|
| 38,776 | |||
| 38,776 | |||
| 38,776 | |||
| 0 | |||
| 0 2025 £ 0 0 0 0 2025 £ 0 0 - |
|||
| 0 | 0 |
11. Debtors
12. Creditors: amounts falling due within one year
8 of 9
Docusign Envelope ID: E2E62D0A-0146-4266-BA4A-565DCE17D889Docusign Envelope ID: 980A0F22-541E-4297-B627-8B71A607D996
| INCOME AND ENDOWMENT Donations and legacies Donations Charitable activities Income from charitable activities Total incoming resources EXPENDITURE Raising donations and legacies Donations Charitable activities Cost of direct charitable activity SUPPORT COSTS Management & Admin Management & Admin IT & Computer Costs Phone, IT & Computer Costs Professional & Legal Fees Professional & Legal Fees Refreshments & UK Entertainments Refreshments & UK Entertainments Governance costs Governance costs Total resources expended Net Income |
2025 £ 213,032 213,032 |
2024 £ 123,529 123,529 |
|
|---|---|---|---|
| ~~0 ~~ 0 213,032 0 0 (103,414) (103,414) (51,840) (51,840) (408) (408) (0) (0) (155,662) 56,996 |
~~0~~ 0 123,529 0 0 (72,651) (72,651) (54,852) (54,852) (567) (567) (3,103) (3,103) (556) (556) (0) (0) (131,730) (8,381) |
9 of 9