Trustees’ Annual Report for the period
From: 01 January 2022 Period start date To: 31 December 2022 Period end date
Charity name: Foundation for Refugee Economic Empowerment
Charity registration number: 1164143
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To provide relief and assistance to internally displaced persons (IDPs), mainly in Nigeria-but not exclusively-who are the victims of war, natural disaster, trouble or catastrophe by raising awareness and assisting in the provision of basic needs, healthcare and education. To advance other such charitable purposes (according to the law of England and Wales) as the trustees see fit. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Foundation for Refugee Economic Empowerment (FREE) continues to fulfil its charitable role of supporting people in need. Activities for this reporting period include: • Borehole Construction & Repair • Educational/Empowerment Programmes • Orphan Support • Food Distribution • Flood Relief |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The activities undertaken for this reporting period confirms that the trustees have taken due regard to the Charity Commissions guidance on public benefit when reviewing the organisation’s aims and objectives. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Policy on grant making Para 1.38
Policy on social investment Para 1.38 including program related investment Contribution made by Para 1.38 volunteers Other
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 | Water: Construction (and repair) of hand operated and solar boreholes in several locations. Education: We continue to encourage a culture of learning and development in our education centres. The curriculum includes topics on ethics, sustainability, STEM, Arts & craft etc. Orphan Support: We have two orphanages in different locations, we invest in the provision of holistic environment to foster well-being and all-round development. Empowerment: We were able to continue previous activities and respond to new needs. We’ve included tree planting in our programme, this provides an income and source of food for the community with the aim of encouraging self-sufficiency. Food Distribution: We distribute food parcels in hard-to-reach areas and run soup kitchens in various locations. Emergency relief to those affected by severe floods that caused displacement. Intervention included the delivery of food parcels, medical supplies and reconstruction of destroyed homes. |
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 | We continue to disburse funds raised through generous supporters, fundraising activities and new partnerships. |
| Investment performance against objectives |
Para 1.41 | |
|---|---|---|
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of theperiod |
Para 1.21 | Financial position is stable and we plan to continue to raise more funds to support our objectives. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | There is no formal reserve policy at present. |
| Amount of reserves held | Para 1.22 | |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 |
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 | Income is generated through fundraising activities, individual donations and partnership with other organisations. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document | Para 1.25 |
Constitution |
| How is the charity constituted? |
Para 1.25 | Charitable Incorporated Organisation |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of |
Para 1.25 |
any person or body entitled to appoint one or more trustees
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 | |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | There are currently four trustees, no new appointments have been made. |
| Relationship with any related parties |
Para 1.51 | |
| Other | Trustees are volunteers and give their time freely without remuneration, however expenses incurred solely for charity purposes are reimbursed on request. |
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Foundation for Refugee Economic Empowerment
1164143 CC16a 31-Dec-22 To
Receipts and payments accounts
01-Jan-22
For the period from
Section A Receipts and payments
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Unrestricted Restricted
Endowment funds Total funds Last year
funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
General fund 5,094 - - 5,094 4,842
Water project 2,265 - 2,265 355
Feeding 4,955 - 4,955 2,620
Zakat 3,022 - 3,022 4,109
Orphans 1,440 - 1,440 1,490
SRF 74,360 - 74,360 130,457
COVID - -
- - -
Sub total (Gross income for
AR) [ 5,094 ] 86,042 - 91,136 143,872
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 5,094 86,042 - 91,136 143,872
A3 Payments
Charitable activities - 63,716 63,716 151,022
Admin cost 524 524 191
-
- - -
- - - - -
- - - - -
- - - -
Sub total [ 524 ] 63,716 - 64,240 151,213
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments 524 63,716 - 64,240 151,213
Net of receipts/(payments) 4,570 22,326 - 26,896 - 7,341
A5 Transfers between funds - - - - -
A6 Cash funds last year end 719 - - 719 8,060
Cash funds this year end 5,290 22,326 - 27,616 719
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CCXX R1 accounts (SS)
30/10/2023
1
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets |
Details Cash at bank as of 31/12/2022 Details Total cash funds (agree balances with receipts and payments account(s)) Details Details Details |
Unrestricted funds to nearest £ 5,290 - - 5,290 OK Unrestricted funds to nearest £ - - - - - - Fund to which asset belongs Fund to which asset belongs Fund to which liability relates |
Restricted funds to nearest £ 22,326 - - 22,326 OK Restricted funds to nearest £ - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - Amount due (optional) - - - - - |
Endowment funds to nearest £ - - - - OK Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) |
|---|---|---|---|---|
CCXX R2 accounts (SS)
30/10/2023
2