## **Trustees’ Annual Report for the period**
**From** 1st January 2021 **To** 31st December 2021
**Charity name:** Seeking Reward Foundation
## **Charity registration number:** 1153728
## **Objectives and Activities**
**----- Start of picture text -----**
SORP reference
Summary of the purposes of Para 1.17 To advance the Islamic faith in such ways as
the charity as set out in its the Trustees shall see fit, in particular but not
governing document limited to carrying out community projects for
the welfare of the community such as
providing religious and other literature, feeding
orphans and establishing water wells
Summary of the main Para 1.17 and The educational initiatives provide individuals,
1.19
activities in relation to those communities or organisations with materials
purposes for the public and resources to educate society in
benefit, in particular, the understanding Islam. These are in the forms of
activities, projects or providing books, Qur’ans or online resources
services identified in the
under the initiatives of ‘Knowledge’ and
accounts.
‘Quran’ projects.
By providing sources of clean and safe drinking
water under the ‘Water Projects’ initiative,
communities (non-Muslim and Muslim alike)
can prosper in their development and health.
Communities with clean water are able to
function better individually as well as a society
as it provides them with the essentials to life.
Planting trees under the ‘Trees Project’ has
allowed needy communities the opportunity to
not only benefit from the fruits individually but
also to provide them with an income stream to
support them from the medium to long term.
Finally, under the ‘Mosques Project’ building
community hubs such as a mosque has allowed
communities to have a central point to
congregate and a medium to develop their
spiritual needs in a communal gathering.
Statement confirming Para 1.18 Yes, Trustees have reviewed guidance issued
whether the trustees have by the Charity Commission on public benefit.
had regard to the guidance
issued by the Charity
**----- End of picture text -----**
Commission on public benefit
## **Additional information (optional)** You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
## **Achievements and Performance**
**----- Start of picture text -----**
SORP reference
**----- End of picture text -----**
|**Achievements and Performance**|**Achievements and Performance**|**Achievements and Performance**|
|---|---|---|
|SORP reference|||
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|This year the charity built upon the success
from the previous year. At the beginning of
year an Admin/Marketing Assistant was
recruited to ensure we were able to manage
growth from an administration and raising
awareness perspective. It was also important
to ensure one of the success factors from the
previous year remained consistent i.e., high
transparency by regularly sharing project
media updates (i.e. results of donations)
individually to project sponsors and to the
public via 6 social media platforms. This
developed trust in the charity and as a result
led to increased income through new donors
and larger donations.
Another reason for an increased income was
due to individuals and groups deciding to set
up online fundraising pages themselves for us
to carry out charitable projects on their behalf.
This resulting in multiple income streams
without requiring extra fundraising resource
from the charity.|
The charity matched the high income with a high-level of spending towards charitable projects. Utilising existing reliable implementing partners and robust governance policies and procedures, we impacted and served more needy people than ever before. The charity was able to educate many more people by providing essential literature and places of study/worship (i.e. Mosques) across the most needy of locations. We were able to build many water wells to provide communities with clean and safe drinking water sources, and we also established tree farms benefiting the needy and the environment. With an increase in staff, income, spending and awareness from the previous year, the charity set to further establish robust governance policies and procedures to ensure they are adequate with the charity’s growth. The charity created 20 new policies covering areas such as Risk Management, Safeguarding, Diversity and Equality, Code of Conduct, Risk Register and Operational policies. There was also a focus on creating HR documentation including an extensive staff handbook and 4 HR process flowcharts detailing the procedures for recruitment, employee onboarding, disciplinary and offboarding. To increase efforts to ensure funds are being utilised for the intended purposes, the charity began arranging for independent monitoring officers to carry out inspections of completed projects and ensure they are being used for intended purposes. These visits were successful, and we look at increasing as the project portfolio also increases.
## **Additional information (optional)** You may choose to include further statements where relevant about:
|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|
|---|---|---|
|Achievements against
objectives set
Para 1.41|||
|Performance of fundraising
activities against objectives
set
Para 1.41|||
||||
Para 1.41 Investment performance against objectives Other
## **Financial Review**
**----- Start of picture text -----**
Review of the charity’s Para 1.21 The trustees are pleased with the results and
financial position at the end the current position of the organisation and
of the period feel the charity will be in a position to sustain
activities the following year.
Statement explaining the Para 1.22 As the organisation has grown it has taken on
policy for holding reserves more commitments in terms of projects, which
stating why they are held means it is vital for the charity to hold reserves
to compensate in the event of any funding
shortfall.
The trustees have recognised the need to hold
sufficient reserve funds to allow the protection
of core activities in the event of any income
shortfalls that could negatively impact long-
term strategic programmes while also
hindering essential projects. The reserve policy
ensures the
sustainability of charitable activities across
various sectors. The trustees aim to dispense
the funds within a 12month period of receiving
them.
Amount of reserves held Para 1.22
Reasons for holding zero Para 1.22
reserves
Details of fund materially in Para 1.24
deficit
Explanation of any Para 1.23
uncertainties about the
charity continuing as a going
concern
**----- End of picture text -----**
**Additional information (optional)** You may choose to include further statements where relevant about:
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|Similar to the previous year, the charity’s
principal source of funds have been from
individual donors from the public through
online means such as direct transfers into the
charity’s account, website donations or
through fundraising platforms such as
JustGiving.
This year seen the increase of individuals from
the public using the JustGiving platform to set
up fundraising pages and raise funds for the
charity to deliver needy projects.|
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|The charity does not get involved in any
investments or business ventures of the sort.
Any donations that are received are used for
the projects that the charity operates.|
||||
A description of the principal Para 1.46 risks facing the charity Other
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|Constitution|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Trust|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Elected|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|A number of policies and procedures were
adopted in relation to recruitment, induction
and training of Trustees, Staff and Volunteers.
Some of these policies and procedures
included a Trustees ongoing training
development plan, Trustee role and
responsibilities, code of conduct, conflict of
interest policy, staff development plan, staff
handbook and HR flowcharts.|
|---|---|---|
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|Seeking Reward Foundation is classed as a
small charity with volunteer Trustees and a
small paid team covering the roles of Project
Manager, Project Support and Marketing
Assistant.|
|Relationship with any
related parties|Para 1.51|This year the charity focused on developing the
relationships with existing implementing
partners in various countries. The fruits of
robust governance when selecting and
onboarding partners became evident as
charitable objectives continued to be met.|
|Other|||
## **Reference and Administrative details**
|Charityname|SeekingReward Foundation|
|---|---|
|Other name the charity uses||
|Registered charitynumber|1153728|
Charity’s principal address Branston Court, Branston Street, Birmingham, B18 6BA
## **Names of the charity trustees who manage the charity**
**----- Start of picture text -----**
Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Mr Kasar Jamil
2 Mr Asad Adris
3 Mr Ballal Raza
4 Mr Isaan Raza
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
**----- End of picture text -----**
## – Corporate trustees names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
Description of the assets None held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**|**Name**|**Address**|
|---|---|---|
|**adviser**|||
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
Declaratlons
Th• trust••s d•¢lar• that th•y hw• approv•d th• tru8t••s' r•port abov•.
Slgn•d on b•half of th• ch*rlty's trustms
Slgnatur•(s)
Full nam•(s)
Posltl•n log sr•tary.
Chalr, •t¢)
Asad Adris
Trustee
28110122
Charity number: 1153728
Seeking Reward Foundation
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2021
Seeking Reward Foundation Contents Page For the year ended 31 December 2021
|Report of the Trustees|1|
|---|---|
|Independent Examiner's Report to the Trustees|2|
|Statement of Financial Activities|3|
|Statement of Financial Position|4|
|Notes to the Financial Statements|5 to 8|
|Detailed Statement of Financial Activities|9|
Seeking Reward Foundation Report of the Trustees
## For the year ended 31 December 2021
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2021. 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
## **FINANCIAL REVIEW**
## **Going concern**
The financial statements have been prepared on the Going Concern basis unless it is inappropriate to presume that the charity will continue its activities.
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
**Name of Charity** Seeking Reward Foundation **Charity registration number** 1153728 **Principal address** Branston Court Branston Street Birmingham B18 6BA
## **Trustees**
The trustees and officers serving during the year and since the year end were as follows:
Kasar Jamil Ballal Raza Asad Adris Isaan Raza **Independent examiners** Sigma Chartered Accountants 862-864 Washwood Heath Road Washwood Heath Birmingham B8 2NG
Approved by the Board of Trustees and signed on its behalf by
............................................................................. 28 October 2022 Ballal Raza
1 of 9
## Seeking Reward Foundation Independent Examiners Report to the Trustees
## For the year ended 31 December 2021
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiners statement**
Since the Charity's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the listed bodies.
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 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Jawaid Yakoob FCA (8462707)
Sigma Chartered Accountants 862-864 Washwood Heath Road Washwood Heath Birmingham B8 2NG
28 October 2022
2 of 9
## Seeking Reward Foundation Statement of Financial Activities
## For the year ended 31 December 2021
||**Notes**|**Unrestricted**|**Restricted**|**2021**|**2020**|
|---|---|---|---|---|---|
|||**funds**|**funds**|||
|||**£**|**£**|**£**|**£**|
|**Income and endowments from:**||||||
|Donations and legacies|2|61,944|446,244|508,188|187,746|
|**Total**||**61,944**|**446,244**|**508,188**|**187,746**|
|**Expenditure on:**||||||
|Raising funds||(1,694)|-|(1,694)|-|
|Charitable activities|3/4|(48,472)|(451,323)|(499,795)|(134,454)|
|**Total**||**(50,166)**|**(451,323)**|**(501,489)**|**(134,454)**|
|**Net income/expenditure**||**11,778**|**(5,079)**|**6,699**|**53,292**|
|**Reconciliation of funds**||||||
|Total funds brought forward||57,136|24,308|81,444|28,388|
|**Total funds carried forward**||**68,914**|**19,229**|**88,143**|**81,680**|
3 of 9
## Seeking Reward Foundation Statement of Financial Position As at 31 December 2021
|**Notes**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Restricted income funds
8
Unrestricted income funds
8
**Total funds**|**£**
**2021**
89,211
**89,211**
(1,068)
**88,143**
**88,143**
**88,143**
19,229
68,914
**88,143**|**£**
**2020**
81,680|
|---|---|---|
|||**81,680**|
|||-
**81,680**|
|||**81,680**|
|||**81,680**|
|||24,306
57,374|
|||**81,680**|
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Ballal Raza Trustee
28 October 2022
4 of 9
Seeking Reward Foundation Notes to the Financial Statements
For the year ended 31 December 2021
## **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 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Seeking Reward Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **Going concern**
The financial statements have been prepared on the Going Concern basis unless it is inappropriate to presume that the charity will continue its activities.
## **Change in accounting policy**
The financial statements for the comparative financial year ended 31/12/2020 covered a period of 9 months and were prepared on the Receipts and Payment basis.
## **2. Income from donations and legacies**
|Donations received
**osts of charitable activities by fund type**
Projects Costs
Support costs
**osts of charitable activities by activity type**
**Support costs**
Projects Costs|**Unrestricted**
**funds**
**£**
61,944
**61,944**
**Unrestricted**
**funds**
**£**
13,087
35,385
**48,472**
**Activities**
**undertaken**
**directly**
**£**
464,410|**Restricted**
**funds**
**£**
446,244
**446,244**
**Restricted**
**funds**
**£**
451,323
-
**451,323**
**Support**
**costs**
**£**
35,385|**2020**
**2021**
**£**
**£**
187,746
508,188
**187,746**
**508,188**
**2020**
**2021**
**£**
**£**
115,484
464,410
18,970
35,385
**134,454**
**499,795**
**2020**
**2021**
**£**
**£**
499,795
134,454|
|---|---|---|---|
## **3. Costs of charitable activities by fund type**
## **4. Costs of charitable activities by activity type**
5 of 9
Seeking Reward Foundation Notes to the Financial Statements Continued
For the year ended 31 December 2021
## **5. Analysis of support costs**
|**nalysis of support costs**|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|**Projects Costs**|||
|Staff|33,152|18,970|
|Wages/Resourcing|||
|IT|347|-|
|Governance costs|1,886|-|
||**35,385**|**18,970**|
## **6. Particulars of employees**
|Administration
**omparative for the Statement of Financial Activities**
**Income and endowments from:**
Donations and legacies
**Total**
**Expenditure on:**
Charitable activities
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
49,558
**49,558**
(18,970)
**(18,970)**
**30,588**
26,786
**57,374**|**2021**
3
**3**
**Restricted**
**funds**
**£**
138,188
**138,188**
(115,484)
**(115,484)**
**22,704**
1,602
**24,306**|**2020**
0|
|---|---|---|---|
||||**0**|
||||**2020**
**£**
187,746|
||||**187,746**|
||||(134,454)|
||||**(134,454)**|
||||**53,292**
28,388|
||||**81,680**|
## **7. Comparative for the Statement of Financial Activities**
6 of 9
Seeking Reward Foundation Notes to the Financial Statements Continued
For the year ended 31 December 2021
## **8. Movement in funds**
## **Unrestricted Funds**
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**01/01/2021**|**resources**|**resources**|**31/12/2021**|
||**£**|**£**|**£**|**£**|
|_General_|||||
|General|57,136|61,944|(50,166)|68,914|
||**57,136**|**61,944**|**(50,166)**|**68,914**|
|**Unrestricted Funds - Previous year**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/04/2020**|**resources**|**resources**|**31/12/2020**|
||**£**|**£**|**£**|**£**|
|_General_|||||
|General|26,786|49,558|(18,970)|57,374|
||**26,786**|**49,558**|**(18,970)**|**57,374**|
## **Purpose of unrestricted Funds**
## General
These funds are received by Seeking Reward Foundation with no particular preference expressed by donors.
## **Restricted Funds**
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**01/01/2021**|**resources**|**resources**|**31/12/2021**|
||**£**|**£**|**£**|**£**|
|Restricted|24,308|446,244|(451,323)|19,229|
||**24,308**|**446,244**|**(451,323)**|**19,229**|
|**Restricted Funds - Previous year**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/04/2020**|**resources**|**resources**|**31/12/2020**|
||**£**|**£**|**£**|**£**|
|Restricted|1,602|138,188|(115,484)|24,306|
||**1,602**|**138,188**|**(115,484)**|**24,306**|
7 of 9
Seeking Reward Foundation Notes to the Financial Statements Continued
For the year ended 31 December 2021
## **Purpose of restricted funds**
## Restricted
These funds are received by Seeking Reward Foundation with partcular preference expressed by donors.
## **9. Analysis of net assets between funds**
|**Unrestricted funds**
_General_
General
**Restricted funds**
Restricted
**Previous year**
**Unrestricted funds**
_General_
General
**Restricted funds**
Restricted|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
68,914
68,914
19,229
19,229|
|---|---|
||**88,143**
**88,143**|
||**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
57,374
57,374
24,306
24,306|
||**81,680**
**81,680**|
8 of 9
Seeking Reward Foundation Detailed Statement of Financial Activities For the year ended 31 December 2021
|**INCOME AND ENDOWMENT**
**Donations and legacies**
Where Most Needed
Admin Fund (Support SRF)
Water Projects
Quran Projects
Knowledge Projects
Tree Projects
Mosque Projects
Gift Aid
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Fund Raising Costs
Telephone
Advertising
**Charitable activities**
Water Projects
Quran Projects
Knowledge Projects
Tree Projects
Mosque Projects
Where Most Needed
Foreign currency gains/losses
**SUPPORT COSTS**
**Staff Wages/Resourcing**
Staff costs - wages & salaries
Admin Fund (Support SRF)
**IT**
IT
**Governance costs**
Accountancy fees
Bank Charges
**Total resources expended**
**Net Income**|**£**
**2021**
7,592
35,118
131,304
72,861
16,365
17,541
208,173
19,234
**508,188**
**508,188**
(736)
(242)
(716)
**(1,694)**
(133,395)
(65,550)
(24,434)
(14,917)
(213,027)
(9,592)
(3,495)
**(464,410)**
(33,152)
-
**(33,152)**
(347)
**(347)**
(1,140)
(746)
**(1,886)**
**(501,489)**
**6,699**|**£**
**2020**
5,228
44,330
83,956
32,632
1,140
1,340
19,120
-|
|---|---|---|
|||**187,746**|
|||**187,746**
-
-
-|
|||**-**
(76,085)
(33,034)
-
(1,300)
(5,065)
-
-|
|||**(115,484)**
-
(18,970)|
|||**(18,970)**
-|
|||**-**
-
-|
|||**-**|
|||**(134,454)**|
|||**53,292**|
9 of 9
This page does not form part of the statutory financial statements
##
##
## ****
## ****