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2024-09-30-accounts

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ANNUAL REPORT 2023/2024

ANNUAL REPORT

2023-2024

Dewsbury, WF13 3HP www.sktwelfare.org

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ANNUAL REPORT 2023/2024

TABLE OF CONTENTS

FOREWORD/CEO MESSAGE P3

GLOBAL STRATEGY & THEMATIC PRIORITIES P4

OUR WORK AT A GLANCE & KEY ACHIEVEMENTS P5 - P7

REGIONAL IMPACT P8 - P24

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Middle East ������ South Asia
Palestine (Gaza) Tanzania Pakistan
Syria Ethiopia & Kenya Afghanistan
Turkey Somalia & Somaliland Bangladesh
Yemen
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EMERGENCY RESPONSE INTERVENTIONS P25 - P26

SPECIAL CAMPAIGNS & INITIATIVES P27 - P32

SKT WELFARE OPERATIONS P33 - P35

LOOKING AHEAD: SKT WELFARE GLOBAL PROGRAMMES (2025 – 2026) P36 - P37

ACKNOWLEDGEMENTS P38

REPORT OF THE TRUSTEES AND FINANCIAL STATMENTS FOR THE PERIOD ENDED

30 SEPTEMBER 2024 P39 - P58

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ANNUAL REPORT 2023/2024

Foreword/ CEO Message

As-salamu alaykum,

Warmest regards, Asif Hussain (CEO) Chief Executive Officer, SKT Welfare

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ANNUAL REPORT 2023/2024

GLOBAL STRATEGY & THEMATIC PRIORITIES

four core thematic pillars:

Emergency Relief in Crisis Settings

Sustainable Development & Infrastructure a

| Livelihoods & Economic Empowerment We support women, youth, and vulnerable families through vocational training, business grants, and asset-based programmes designed to foster independence and break cycles of dependency. Community Health & Child Welfare

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ANNUAL REPORT 2023/2024

In 2024

over people 834,492

across 15 countries

SECTOR BENEFICIARIES
Food and Non-Food Aid 471,979
Water, Sanitation & Hygiene (WASH) 109,740
Health & Medical Support 67,989
Livelihoods (Gifts of Kindness & Izaat ki Rozi) 9,420
Shelter & Housing (Safe Haven) 1,066
Mosque Construction & Use 3,920
Education & Child Welfare 1,000+
Zakat Fund Distribution 11,603
Qurbani & Aqiqa Distributions 217,775
TOTAL UNIQUE BENEFICIARIES 834,492
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ANNUAL REPORT 2023/2024

SECTORAL HIGHLIGHTS & IMPLEMENTATION IN 2024

EMERGENCY RELIEF

WATER, SANITATION & HYGIENE (WASH)

Gaza Delivered food parcels, clean water, hygiene kits, and medical supplies. andranported hospitals,mobile bakeries. deployed ambulance, Afghanistan Distributed emergency food, winter

Pakistan

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Tanzania
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Bangladesh

Pakistan

Syria

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ANNUAL REPORT 2023/2024

SECTORAL HIGHLIGHTS & IMPLEMENTATION IN 2024

FOOD SECURITY & LIVELIHOODS

HEALTH & MEDICAL SUPPORT

i Syria ; ; . ss, The SKT Hospital treated 67,989 patients, providing = maternity, trauma, and emergency care. Pakistan: * Opened a Cancer Diagnosis Centre at Rawalpindi i 7) Medical University to serve low-income patients. Syria (camps): Th = Eye care services provided through the Dates Initiative

Pakistan:

Kenya & Ethiopia: 6,696 people received

EDUCATION & CHILD WELFARE , , oo SKT continued investing in child Turkey ei ali Supported 33 Aiuy cot‘G4he spas. of SA Sey Somaliland Partnered therapy, 151 children Syria

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

MIDDLE EAST PALESTINE (GAZA)

15,498 food parcels delivered to displaced families

50,000+ litres of clean water trucked into high-risk areas

Daily distribution of 1,700 loaves of bread via a mobile bakery

Hygiene kits and winter blankets provided to thousands

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PALESTINE (GAZA)
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Medical equipment and one ambulance delivered to hospitals Ongoing partnership with hospitals in Gaza to support hospitals under siege

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ANNUAL REPORT 2023/2024

MIDDLE EAST

SYRIA

Safe Haven Villages

Key Achievements:

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

SYRIA

In ae a . response to the ongoing crisis in Syria, which has severely impacted food security, the Free Bread Project was launched to support displaced families

total of 6,606 people.

A total of 353,280 bread bundles were distributed across the

Bread was delivered directly to families’ tents, providing free bread and improving food security for displaced communities.

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

MIDDLE EAST SYRIA

SKT Hospital

Neurosurgery e Orthopedic Surgery e General Internal Medicine e Urology e Otolaryngology (ENT) e Pediatrics

Radiology Department e Pharmacy Department e Laboratory Department e Ambulance Services

“SKT Specialized Hospital project has been a cornerstone of support for the community, particularly for the 200,000 people it serves, including many camp residents facing incredibly harsh humanitarian and economic

resources, and lack of proper medical facilities. However, SKT hospital provides essential medical services free of charge across all departments, making healthcare accessible to those who need it most.

The impact of this hospital is immeasurable. It is not just a place where people receive treatment; it is a sanctuary of hope and healing for the most vulnerable groups—widows, orphans, the elderly, and individuals with disabilities. For many, the SKT Specialized Hospital is the only place they can turn to when faced with medical emergencies or ongoing health concerns, as they cannot afford treatment elsewhere.

Beyond offering life-saving interventions, the hospital also provides regular check-ups, preventive care, and essential services, which improve overall health outcomes in the community. The free medical services relieve the economic burden on families who otherwise would be forced to choose between paying for medicine or buying food. In a region where suffering is widespread, the SKT Specialized Hospital serves as a beacon of barriers.” care, compassion, and dignity, offering families the healthcare they desperately need without any financial

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

MIDDLE EAST TURKEY

2023 earthquake , the ongoing refugee crisis, economic hardships climate-induced disasters

SKT Welfare

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TURKEY
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widows ; orphans sand refugee families.

Springs of Hope: A Sanctuary for Widows and Orphans

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

MIDDLE EAST TURKEY

Key Features

e Facility Design: The project is housed in a six-story building, each

design ensures secure, comfortable living spaces for mothers and children, with provisions for communal areas that foster a sense of community.

Impact:

:$=The project also includes tailored education through the Quran School and Abdullah bin Abbas (ABA) Institute, reaching over 1,000 children, including those with special educational and behavioural needs.

Vocational training, counselling, and psychosocial support are offered to both mothers and children, helping them build sustainable livelihoods and recover emotionally from their past traumas.

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

MIDDLE EAST TURKEY

Hifz Sponsorship Programme: Empowering Through Islamic Education

The Quran School Abdullah bin Abbas (ABA) Institute

Key Achievements of the Hifz Sponsorship Programme:

1,000 students enrolled in both The Quran School and ABA Institute, receiving tailored religious education.

Vocational training and psychosocial support are integrated into the educational services, promoting holistic development and addressing the unique needs of the children.

Special focus on refugee children, ensuring they have the tools to succeed in both their religious and academic pursuits despite the challenges of displacement.

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

MIDDLE EAST YEMEN

In 2024, SKT:

Installed solar panel systems for 10 off-grid households, providing light, refrigeration, and energy for basic needs Distributed food parcels during Ramadan and Winter campaigns, reaching 2,600 people Delivered hygiene packs and cooking supplies to families in remote areas

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YEMEN
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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

AFRICA TANZANIA

deep water well.

Five (5) new mosques

These facilities now serve over 3,000 people

The mosques function as community hubs, offering prayer space, Qur’anic education, and clean water access

Local communities were involved in planning and implementation to ensure ownership and sustainability

distance, more than one kilometre to attend the congregational prayers…it brought harmony and unity amongst us all. We are grateful to our donors, and we pray may Allah bless them and reward them in Jannat al Firdaus.”

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

AFRICA ETHIOPIA & KENYA

6,696 people supported across Kenya and Ethiopia

Food parcels delivered to food-insecure households

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ETHOPIA
KENYA
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This programme not only addressed immediate needs but also empowered families to rebuild livelihoods. In rural communities, we helped families strengthen their small farms; in urban areas, we supported women to launch or grow small businesses like tailoring, food stalls, and kiosks. In several regions, our teams worked directly with community leaders to identify which tools or grants would create the greatest

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

AFRICA SOMALIA & SOMALILAND

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SOMALIA & SOMALILAND
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151 children with cerebral palsy received regular therapy, developmental assessments, and assistive care
14-day training programmes equipped teachers, parents, and caregivers with the skills to provide daily support
Assistive devices, mobility tools, and custom care plans were distributed to children based on individual need
Home-based care guidance and family counselling services helped caregivers reduce stress and improve confidence
Individual Education Plans (IEPs) were developed for each child, allowing for tailored learning and classroom integration
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“As a mother, I was so helpless watching my child spend the

him. But now that SKT and Ubad Gargaar gave us a standing frame, everything is different. Now he can stand using the standing frame, which has made him stronger, improved his posture, and even helped him eat. I can also see the difference in his mood too- he is happier than before. This assistance has truly changed our lives, and I am most grateful.”

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

SOUTH ASIA PAKISTAN

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PAKISTAN
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Water, Sanitation & Hygiene (WASH)

Access to clean drinking water remains a critical issue in rural Pakistan, where many rely on contaminated surface water or open wells. The dual threats of floods and droughts, intensified by climate change, have only worsened water scarcity and health risks.

Water Hand Pumps

In 2024, SKT installed over 2,855 hand pumps in remote areas of Punjab and

Sindh, directly serving more than 14,275 people. These hand pumps brought water access to households that previously walked kilometres to collect unsafe water—relieving the burden on women and girls and dramatically reducing waterborne illnesses.

Filtration Plants

For areas where groundwater is inaccessible or contaminated, SKT established

safe drinking water to 15,000 people, with far-reaching impacts on community health.

health and wellbeing, and we see a great decline in the water borne diseases and our children are living healthy life”

ANNUAL REPORT 2023/2024

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

SOUTH ASIA PAKISTAN

Health Interventions

In Pakistan’s rural and underserved regions, access to healthcare is limited by distance, affordability, and lack of facilities. Many communities lack basic supplies, trained professionals, and diagnostic tools. Outbreaks of dengue, cholera, and polio further strain local systems, while maternal and child health needs often go unmet.

Cancer Diagnosis Centre – Rawalpindi Medical University (RMU)

Cancer Diagnosis & Triage Centre at RMU, serving millions. This pioneering facility enables early detection and specialist referrals, particularly for low-income families. It is a cornerstone of SKT’s long-term investment in health equity and disease prevention.

Livelihoods & Women’s Empowerment – Izaat ki Rozi

Structural inequality in Pakistan affects women disproportionately. With limited access to often rely on unsafe or informal work—or none at all. SKT’s Izaat ki Rozi jobs or vocational training, women in rural areas programme (“Earning with Dignity”) provides women with the tools,

2024 Highlights

444 women trained in sewing, embroidery, and small-scale enterprise

Distribution of sewing machines, startup kits, and business mentoring

Financial literacy workshops for long-term independence

“It was my fervent desire to get education and become independent but due to my mother’s debilitating health condition, I was not able to go to school nor my parents afforded me to send to the school. When I heard about SKT Welfare sewing training opportunity, I was so excited that my

grateful for the opportunity”

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ANNUAL REPORT 2023/2024 ‘ ALLAH F) ThisHome REGIONAL IMPACT Bless | ES SOUTH ASIA PAKISTAN

Mosque Construction & Repairs

Mosques are at the heart of community life in rural Pakistan—serving

resolution, and community solidarity. Many were severely damaged

2024 Achievements:

plants) @ All sites linked with adjacent WASH facilities (wells orfiltration

Shelter – Safe Haven Pakistan

In 2022, unprecedented floods displaced millions in Pakistan, leaving families homeless and vulnerable. In response, SKT replicated its

25 total homes built through Safe Haven Pakistan

10 homes constructed during 2023–2024

Each home includes private space, sanitation, solar lighting, and clean water access

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

SOUTH ASIA AFGHANISTAN

Health Interventions

Earthquake Response – Herat Province

distributing: 2024 Highlights

Food parcels and non-food items, including tents, blankets, and kitchen sets

Culturally appropriate aid packs for displaced families, tailored to local customs and needs

Continued seasonal food support through Ramadan and Winter Campaigns

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

SOUTH ASIA AFGHANISTAN

Flood Response – Baghlan Province

Emergency food parcels Temporary shelter kits, including tarpaulins and thermal blankets

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ANNUAL REPORT 2023/2024

REGIONAL IMPACT

SOUTH ASIA BANGLADESH

Emergency food parcels to help families cope with the immediate loss of income and access to markets

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BANGLADESH
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Hygiene kits to prevent the spread of disease in overcrowded shelters

Clean water distributions to reduce the risk of waterborne illnesses

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ANNUAL REPORT 2023/2024

EMERGENCY RESPONSE INTERVENTIONS

Our emergency operations this year included: Afghanistan Earthquake & Flood Response

parcels, emergency shelter kits, and clean water to over 600 people e Following the Herat earthquake and floods in Baghlan, SKT delivered food C) Our teams provided winter relief—including warm clothing, fuel, and blankets—to 700 individuals in mountainous regions at risk of hypothermia

Aid was coordinated with local partners to ensure culturally appropriate delivery and safety for staff and beneficiaries

Pakistan Flood & Bombing Response

Temporary shelters and hygiene kits for displaced households

Provision of food parcels to families whose homes were submerged

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ANNUAL REPORT 2023/2024

EMERGENCY RESPONSE INTERVENTIONS

Gaza Emergency Operations

Bangladesh Flash Flood Response

Reached 5,000 people in Chittagong following severe mon-

ANNUAL REPORT 2023/2024

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SPECIAL CAMPAIGNS & INITIATIVES Throughout 2024, SKT Welfare launched a series of high-impact campaigns that allowed us to reach hundreds of thousands of during periods of heightened need. Ramadan Campaign The holy month of Ramadan is a time of fasting, reflection, and

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ANNUAL REPORT 2023/2024

SPECIAL CAMPAIGNS & INITIATIVES

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= Palestine -— -— - -— -—
(Gaza) as» Pakistan as» Lebanon as» Syria as» Tanzania as»
389,048 139,852 35,909 15,798 16,963

--
7~N 7 ~N Vg ~N XN >
/1\s 71\S 71\S 1\s 1\s
/7 /7 ly ly
- -— United
Yemen —— Afghanistan Somalia Somaliland Kingdom
17,503 13,043 13,123 1,351 11,425
——
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/
7
Qurbani & -— “I am a mother of seven children. My husband passed away two years ago, and
Aqiqah
— since then, | have been the head of my family. Due to economic difficulties, our
217,775 — life became very challenging. Praise be to Allah, last Ramadan, you and the
> donors thought of us, and the food package reached us…these supplies truly
\ saved us. They sustained my family for an entire month. We are seven
people, and it was incredibly difficult to provide food for everyone. But with that
help, we didn’t have to worry about food until the end of Ramadan.”
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ANNUAL REPORT 2023/2024 r ~~™~~ PAGE ~. 29 4

SPECIAL CAMPAIGNS & INITIATIVES

Winter Campaign

Fuel for heating Blankets and warm clothing Heating stoves Insulated sleeping mats Hygiene essentials

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ANNUAL REPORT 2023/2024

SPECIAL CAMPAIGNS & INITIATIVES

Qurbani & Aqiqah

Orphans and widows Internally Displaced Persons (IDPs) Heating stoves Low-income families Elderly and disabled individuals

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SPECIAL CAMPAIGNS & INITIATIVES

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Zakat Fund
‘ ; . .
The
obligation of Zakat represents far more than charity. It is a form of wealth
purification and social justice, designed to uplift the most vulnerable members
of society. In 2024, SKT Welfare's Zakat Fund played a vital role in addressing
socio-economici inequalities,j offeringj targeted supportj j to thosej mostj j in need
across
the United Kingdom, Pakistan, and multiple international crisis zones.
By digitising both collection and distribution, SKT ensured that Zakat was
ered efficiently, securely, and in full alignment with Islamic principles of
compassion, and transparency. Every transaction was traceable, and donors
were provided with assurance that their contributions were reaching verified
Zakat-eligible recipients.
In the United Kingdom, SKT distributed ASDA food vouchers to low-income
families, including refugees, asylum seekers, and others facing food poverty
social exclusion.
In Pakistan, 50 families received monthly food and financial support, helping
them meet essential living costs and restore a sense of stability.
Beyond these two core regions, Zakat funds also supported seasonal distribu-
tions in Syria, Somalia, and Yemen, including:
Food parcels Hygiene kits Warm clothing
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ANNUAL REPORT 2023/2024

SPECIAL CAMPAIGNS & INITIATIVES

SKT Dates Project

Impact to Date

Ethical Sourcing & Community Involvement

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ANNUAL REPORT 2023/2024

SKT WELFARE OPERATIONS

Programme & Project Management

Needs assessments in affected communities

Field implementation and coordination with partners and local actors

Monitoring, Evaluation & Learning (MEL)

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ANNUAL REPORT 2023/2024

SKT WELFARE OPERATIONS

Financial Management & Compliance

Risk Management

Budgeting and accounting Independent auditing

Donor reporting and compliance

Technology & Innovation

Digital fundraising platforms and donor tracking tools

Human Resources & Volunteer Management

Mobile reporting dashboards for real-time performance tracking

Field capacity development Volunteer mobilisation for campaign periods

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Staff wellbeing and safeguarding protocols
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ANNUAL REPORT 2023/2024

SKT WELFARE OPERATIONS

Community Engagement & Empowerment

Early Warning Systems & Data Management

Working through local leaders and grassroots networks

Coordination & Partnerships

Resource Mobilisation & Advocacy

Share assessments and avoid duplication

Respond to emerging crises quickly and collectively

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ANNUAL REPORT 2023/2024

LOOKING AHEAD: SKT WELFARE GLOBAL PROGRAMMES (2025–2026)

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ANNUAL REPORT 2023/2024

LOOKING AHEAD: SKT WELFARE GLOBAL PROGRAMMES (2025–2026)

Core Programming Areas

Emergency Relief

Delivering rapid, life-saving assistance—including food, shelter, and medical support—to populations affected by

Sustainable Development Projects

Implementing long-term initiatives in healthcare, education, water and sanitation (WASH), livelihoods, and

Strategic Priorities for 2025–2026

Innovation & Sustainability

SKT Welfare will invest in innovative, scalable models of aid delivery that leverage existing networks, local supply chains, and sustainable technologies. We will prioritise low-carbon solutions and design interventions that offer lasting value to communities beyond the crisis period.

vulnerability and build community resilience, with a focus on marginalised groups.

Capacity Building

Providing training, resources, and skills development for individuals and partner organisations in the communities we serve, enabling local ownership and long-term impact.

Accessibility & Inclusivity

All programmes will be designed to be inclusive, ensuring access for people of all ages, genders, and abilities. We are committed to removing barriers to aid and strengthening accountability to affected populations, ensuring that no one is left behind.

Community-Centred Design

Advocacy and Awareness

Promoting awareness of humanitarian crises and advocating for systemic change to address the root causes of poverty, conflict, and exclusion through engagement and policy dialogue.

Our future work will emphasise participatory planning and localisation, engaging communities in the design, implementation, and evaluation of programmes. Special focus will be placed on integrating health, education, and livelihoods support in disaster-prone and underserved areas—particularly for women and children.

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ANNUAL REPORT 2023/2024

ACKNOWLEDGEMENTS

Thank you.

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Together, we are building a world rooted in mercy.
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ANNUAL REPORT 2023/2024

REPORT OF THE TRUSTEES

FINANCIAL REVIEW FOR THE PERIOD ENDED 30 SEPTEMBER 2024

OBJECTIVES AND ACTIVITIES

Strategic Reputation

RISK MANAGEMENT

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ANNUAL REPORT 2023/2024

Operational

PLANS FOR FUTURE PERIODS

Aims and key objectives for future periods

Going Concern

Fundraising

Sectors of work:

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ANNUAL REPORT 2023/2024

Structure, governance and management Governance

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|||||||||| |---|---|---|---|---|---|---|---|---| |Code of Fundraising Practice|amended|on|15|September|2012.| |We|comply|with|the|Fundraising|Regulator’s|Code|of| |Fundraising|Practice|and|ensure|our|fundraising|activities|Organisational Structure and Management| |reflect|the|code|standards.|The|Board|of Trustees|comprises|members| |backgrounds.|Trustees|are|selected|based| |General Data Protection Regulation (GDPR)|experience|and|networks,|and|the|needs|of|

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Protection of Vulnerable People

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|||||||||||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |are|fully|briefed|about|the|code|of|conduct|with|regard|to|Appointed|trustees|are|responsible|for|general|manage-|Related Parties| |the|protection|of vulnerable|people.|Before|any|external|ment|and|control|of the|charity|and|to|ensure that|it|oper-|SKTW|Ventures|Ltd|is|a|trading|subsidiary|of SKT| |facing|fundraising|activity|is|undertaken,|we|brief|staff and|ates|within|the|guidelines|dictated|by the|Charity|Commis-|It|supports|our|charitable|activities|by|retailing| |volunteers|on|best|practice|and|make them|aware|of the|sion|and|its|own|governing|documents.|types|of|dates|across|the|UK.|The|registered|address|of| |need|to|identify,|respect,|support|and|protect|vulnerable|SKTW|Ventures|Ltd|is|652|Huddersfield|Rd,|Dewsbury,| |people.|The|trustees|meet|regularly to|discuss|and|review the|WF13|3HP.| |Charity’s|operations.|At these|meetings,|they|also|make| |Complaints Handling|macro|and|micro|level|decisions|relating|to|the|running|of|Disclosure of Information to Auditor| |There|may|be|times|when|we|do|not|meet the|high|stan-|the|charity|and|its|activities,|mainly|the|delivery|of|humani-|Each|Trustee|has|taken|steps|that|they|ought|to|have| |dards we|set|ourselves|and|for such|instances|we|have|a|tarian|aid|projects|to|different|parts|of the|world,|as|well|as|taken|as|a|Trustee|in|order to|make|themselves|aware| |complaints|policy|in|place.|within|the|UK.|The|trustees|also|have|a|group|of volunteers|any|relevant|audit|information|and|to|establish|that The| |working|under|them|(in|the form|of sub-committees|and|Charity’s|auditor|is|aware|of|that|information.|The Trust-|

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ANNUAL REPORT 2023/2024

Reference and administrative details

FINANCIAL REVIEW

Registered Charitable incorporated organisation:

Registered Charity number

Dewsbury WF13 3HP

Trustees

Auditors

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

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ANNUAL REPORT 2023/2024

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF SKT WELFARE

Conclusions related to going concern

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Matters on which we are required to report by exception
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Opinion

Other information

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Responsibilities of Trustees
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Basis for opinion

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ANNUAL REPORT 2023/2024

statements

Use of our report

Capability of the audit in detecting irregularities

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ANNUAL REPORT 2023/2024

SKT Welfare

Notes

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SKT Welfare

Notes

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SKT Welfare

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Notes
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ANNUAL REPORT 2023/2024

SKT Welfare

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ANNUAL REPORT 2023/2024

SKT Welfare

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ANNUAL REPORT 2023/2024
SKT Welfare Income and endowments headings, they have been
Notes to the financial statements All income is recognised onceThe Charity has entitle- with the use of resources,
for the yearended 30 September2024 ment to the income, it is probable thatthe income will be ed on the basis of time
received and the amount ofthe income receivable can be allocated on the portion
1. ACCOUNTING POLICIES measured reliably. costs are allocated based
Summaryof significant accounting policies and key Donations and legacies Raising funds
accounting estimates Donations are recognised when The Charity has been These are costs incurred
The principal accounting policies applied in the prepara- notified in writing of both the amount and settlement date. the management of investments
tion ofthese financial statements are set out below. These In the event that a donation is subject to conditions that trading activities that raise
policies have been consistently applied to all the years require a level ofperformance byThe Charity beforeThe
presented, unless otherwise stated. Charity is entitled to the funds, the income is deferred and Charitable activities
not recognised until eitherthose conditions are fully met, Charitable expenditure
Statement of compliance orthe fulfilment ofthose conditions is wholly within the The Charity in the delivery
The financial statements have been prepared in accor- control ofThe Charity and it is probable that these its beneficiaries. It includes
dance with Accounting and Reporting by Charities: State- conditions will be fulfilled in the reporting period. ed directly to such activities
ment of Recommended Practice applicable to charities nature necessary to support
preparing their accounts in accordance with the Financial Gifts in kind
Reporting Standard applicable in the UK and Republic of Gifts in kind are recognised in different ways dependent on Grant provisions
Ireland (FRS 102) (effective
1 January 2015) - (Charities
how they are used byThe Charity: Provisions for grants are
SORP (FRS 102)), the Financial Reporting Standard appli- a grant has been communicated
cable in the UKand Republic of Ireland (FRS 102). They (i) Those donated for resale produce income when they is uncertainty about either
also complywith The Charities Act 2011. are sold. They are valued at the amount actually realised. amount ofgrant payable.
Basis of preparation (ii) Those donated foronward transmission to beneficia- Financial instruments
SKTWelfare meets the definition of a public benefit ries are included in the Statement of Financial Activities as The Charity only has financial
entity under FRS 102. Assets and liabilities are initially incoming resources and resources expended when they kind that qualify as basic
recognised at historical cost or transaction value unless are distributed. They are valued at the amountThe Charity financial instruments are
otherwise stated in the relevant accounting policy notes. would have had to pay to acquirethem. value and subsequently
The financial statements are presented in sterling, which (iii) Those donated for use byThe Charity itselfare includ- Financial assets held at
is the presentational currencyofthe entity. ed when receivable. They arevalued attheamountThe and bank in hand, debtors
Charity would have had to pay to acquirethem. liabilities held at amortised
Basis of consolidation except social security and
The consolidated financial statements of the group Stocks
incorporate the financial statements ofSKTWelfare (“The Stock is valued at the lower of cost and net realisable Financial assets held at
Charity”) and its whollyowned subsidiary,SKTWVentures
Ltd.
value. (2023: £6,465,329). Financial
was £111,244 (2023: £66,375).
Expenditure
Going concern Allexpenditureisrecognisedoncethereisalegalor

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ANNUAL REPORT 2023/2024

SKT Welfare

Foreign exchange

Governance costs

Fund structure

Pensions and other post retirement obligations

Investments

Critical accounting judgements and key sources of estimation uncertainty

Taxation

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ANNUAL REPORT 2023/2024

SKT Welfare

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ANNUAL REPORT 2023/2024

SKT Welfare

- Group & Charity

6. Trustees’ remuneration

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ANNUAL REPORT 2023/2024

SKT Welfare

Limited Company

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ANNUAL REPORT 2023/2024

SKT Welfare

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ANNUAL REPORT 2023/2024

SKT Welfare

14. Grants to Institutions

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SKT Welfare

16. Volunteer Contribution

Total Volunteers Involved:

Average Hours Contributed per Volunteer:

Types of Activities Supported:

Impact Summary: .

17. Ultimate controlling party The charity is under the control of its legal

18. Related party disclosures

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ANNUAL REPORT 2023/2024

SKT Welfare