Trustees' Annual Report for the period
Period start date
Period end date
From 01 08 2019 To 31 07 2020
Section A Reference and administration details
Charity name SIDQ FOUNDATION
Other names charity is known by Registered charity number (if any) 1156861
Charity's principal address
14 Pembroke Road, Seven Kings, Ilford, Essex Postcode IG3 8PH
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Ahmed Naeem Azam |
Chairman | |||
| Abid Abdulkhaliq | Trustee | |||
| Rajul Islam | Trustee | |||
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
TAR
1
Names and addresses of advisers (Optional information)
Type of adviser Name Address Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document
Trust deed
- (eg. trust deed, constitution)
How the charity is constituted
Trust
- (eg. trust, association, company)
Trustee selection methods
Appointed by the Chairman
- (eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
-
policies and procedures adopted for the induction and training of trustees;
-
the charity’s organisational structure and any wider network with which the charity works;
-
relationship with any related parties;
The trustees present their report with the financial statements of the charity for the year ended 31 July 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 Republic of Ireland (FRS 102) (effective I January 2015).
Sidq Foundation now has a Partnership Agreement in place and is working with the Jordan Benefits Fund in the area of poverty alleviation. The Jordan Benefits Fund web site is here: https://www.jordanbenefitsfund.com/
- trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
To relieve the needs of the poor, in particular but not exclusively, refugees on the border of Jordan and in Amman by the provision of goods and equipment such as shelter, food, clothing and medical supplies.
TAR
2
Funds were distributed to help:
• Widows • The poor • Refugees • Orphans
Summary of the main Monthly payments are made to cover rent for refugee families that are for activities undertaken for the one reason or another incapacitated. Several orphan families are also on public benefit in relation to the list of the people we are able to help. these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Additional details of objectives and activities (Optional information)
Sidq Foundation has a Partnership Agreement in place and is working with the Jordan Benefits Fund in the area of poverty alleviation. The Jordan Benefits Fund web site is here: https://www.jordanbenefitsfund.com/
You may choose to include further statements, where relevant, about:
-
policy on grantmaking;
-
policy programme related investment;
-
contribution made by volunteers.
TAR
3
Section D Achievements and performance
Summary of the main achievements of the charity during the year
We are very proud that Sidq Foundation is now in its eighth year of operation. The Trustees and our partners in Amman, Jordan have been collaborative, and we are very pleased that we are able to ease the suffering of the people in need by:
-
collecting and distributing funds for poverty reduction
-
• providing help to refugees with their rent payments • providing financial assistance to orphans • providing financial assistance to those unable to work
The predicament of many of the refugees in Jordan is that they are unable to work, or if they are working, the minimal wages they receive are not sufficient to lift them above poverty level or to feed a family.
TAR
4
Section E Financial review
Brief statement of the charity’s policy on reserves
RESERVES POLICY The trustees consider that the reserves held are sufficient to continue the charities activity in future years. The trustees actively review the major risks which the charity faces on a regular basis and have also examined other operational and business risks faced by the charity. The trustees confirm that they have established systems to mitigate the significant risks.
Details of any funds materially in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
-
the charity’s principal sources of funds (including any fundraising);
-
how expenditure has supported the key objectives of the charity;
-
investment policy and objectives including any ethical investment policy adopted.
FINANCIAL REVIEW
-
The voluntary donations for the year amounted to £82,378 ( 2019: £45,049).
-
Total projects expenditure was £65,474 ( 2019: £66,403).
-
- Other expenditure £1,107 ( 2018: £1,098).
The surplus for the year was £15,797 ( 2019: overspent by £22,452).
FUTURE PLANS
- Our future plans are to carry on with email campaigns to raise funds. We are confident that the community in UK will continue to support the charity as long as the refugees are in the need of support.
Section F Other optional information
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The charity trustees are responsible for the general control and management of the charity. The trustees give their time feely and receive no remuneration or other financial benefits. The trustees at the moment meet together as a body when and as required and are responsible for all decisions taken in relation to running the activities provided by the charity.
INDUCTION AND TRAINING
NEW TRUSTEES
Following appointment, new trustees will be introduced to their new role and are requested to familiarise themselves with contents of the trusts constitution and to the policies and procedures adopted by the charity. They are also requested to read a number of publications from the Charity Commission to ensure that they are aware of the scope of their responsibilities under the Charities Act.
The new trustees will work collectively with existing trustees assisting on activities and projects run by the charity, to attain maximum benefits for the charity.
VOLUNTEERS
Volunteers are an important resource in both our faith and community work. Volunteers are involved in most of our faith and community activities and we have people and family members who regularly give up their time as volunteer.
All our trustees also give of their time freely. We encourage all members to be involved in voluntary activities and to share their skills with others.
TAR
5
PUBLIC BENEFIT
The trustees have recognised the guidance in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives of the charity and when planning activities. The difference the charity makes for the public benefit is the furtherance of elevating poverty.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to those risk, appropriate controls are in place to mitigate financial risks overseen by trustees.
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
TAR
6
Charity Reg Charity Name No SIDQ FOUDATION 1156861
Receipts and payments
CC16a
accounts
For the Period Period end period start date To date from 01/08/2019 31/07/2020
Section A Receipts and payments
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | |||||
|---|---|---|---|---|---|---|---|---|---|
| to the nearest £ |
to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | |||||||||
| DONATIONS | 82,378 | - | - | 82,378 | 45,049 | ||||
| - | - | - | |||||||
| - | - | - | - | ||||||
| - | - | - | - | - | |||||
| Sub total(Gross income for AR) | 82,378 | - | - | 82,378 | 45,049 | ||||
| A2 Asset and investment sales, (see table). | |||||||||
| - | - | - | - | ||||||
| - | - | - | - | - | |||||
| Sub total | - | - | - | - | - | ||||
| Total receipts | 82,378 | - | - | 82,378 | 45,049 | ||||
| A3 Payments | |||||||||
| FUND RAISING | 252 | - | 252 | 394 | |||||
| CHARITABLE PROJECT 1 - FINANCIAL SUPPORT | 65,474 | 65,474 | 66,403 | ||||||
| DATA MAMANGEMENT | 77 | 77 | 106 | ||||||
| BANK CHARGES | 298 | - | 298 | 298 | |||||
| ACCOUNTANCY AND I&E FEE | 480 | - | 480 | 300 | |||||
| - | - | - | |||||||
| **Sub total ** | 66,581 | - | - | 66,581 | 67,501 | ||||
| A4 Asset and investment purchases, (see table) |
|||||||||
| - | - | - | - | ||||||
| - | - | - | - | ||||||
| **Sub total ** | - | - | - | - | - | ||||
| Totalpayments | 66,581 | - | - | 66,581 | 67,501 | ||||
| Net of receipts/(payments) | 15,797 | - | - | 15,797 | - 22,452 | ||||
| A5 Transfers between funds | - | - | - | - | - | ||||
| A6 Cash funds lastyear end | 26,920 | - | - | 26,920 | 49,372 | ||||
| Cash funds thisyear end | 42,717 | - | - | 42,717 | 26,920 |
TAR
7
Section B Statement of assets and liabilities at the end of the period
| Categories | Details | Unrestricted funds |
Restricted funds |
Endowment funds |
|||
|---|---|---|---|---|---|---|---|
| to nearest £ | to nearest £ | to nearest £ | |||||
| B1 Cash funds | CASH AT BANK | 42,717 | - | - | |||
| CASH IN HAND | - | - | - | ||||
| - | - | - | |||||
| Total cash funds | 42,717 | - | - | ||||
| (agree balances w ith receipts and payments account(s)) |
OK | OK | |||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
|||||
| Details | to nearest £ | to nearest £ | to nearest £ | ||||
| B2 Other monetary assets | - | - | - | ||||
| - | - | - | |||||
| - | - | - | |||||
| - | - | - | |||||
| - | - | - | |||||
| - | - | - | |||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||
| B3 Investment assets | - | - | |||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||
| B4 Assets retained for the charity’s own use |
- | - | |||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| Details | Fund to which liability relates |
Amount due (optional) |
When due (optional) |
||||
| B5 Liabilities | CREDITORS | - | |||||
| - | |||||||
| - | |||||||
| - | |||||||
| - | |||||||
TAR
8
Independent examiner's report on the accounts
Report to the trustees/ SIDQ FOUNDATION members of
| On accounts for the year ended Set out on pages |
31 JULY 2020 | Charity no (if any) |
1156861 |
|---|---|---|---|
| (remember to include the page numbers of additional sheets) |
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/07/2020.
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
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.
- Please delete the words in the brackets if they do not apply.
Date: 28/01/2021 Signed: Name: Jamal Arshad BA(Hons), FCCA Relevant professional Association of Chartered Certified Accountants (ACCA). qualification(s) or body (if any): Address: JA Associates 1-4 The Parade, Monarch Way, Newbury Park, Ilford, Essex, IG2 7HT
TAR
9
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
TAR
10