## **Trustees’ Annual Report for the period** **From:** 01 January 2023 **Period start date To:** 31 December 2023 **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.
Our commitment to improving the lives of and
providing relief to vulnerable communities
remains unwavering. Our aim is to create a
meaningful difference in the lives of those we
serve through collaborative efforts with our
partners and donors.
We have made a commitment to continue to
drive impact, transform and inspire our
stakeholders.
Relief project for this reporting period include
but not limited to:
•
Water Aid
•
Food Aid
•
Orphan Care
•
Education| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity|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.| Commission on public benefit ## **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|Our efforts are focused on providing
comprehensive support to beneficiaries.
Feedback from recipients reflect the crucial
role of our support.
Water Aid
In collaboration with our partners and the
generosity of our donors, we were able to
increase the construction (and repair) of
boreholes and water wells in underserved
location across nine States in Nigeria.
Providing access to clean and safe drinking
water in those communities which has
benefited over 100,000 people.
Education
Bridging educational gaps for out-of-school
children, particularly those affected by
conflict or displacement. Investing in and
enhancing the quality of education through
professional development for educators and
the provision of educational resources for
children.
Orphan Care
Provision of support to two orphanages in
two different locations in northern Nigeria.
Support has been through the following:| |-|Creating
an
environment
that| |---|---| ||nurtures and stimulate the well-being| ||of the children.| |-|Supporting the development of a| ||curriculum which includes ethics,| ||sustainability, Agriculture, STEM, Arts| ||& craft etc. taught through formal and| ||play-based learning.| |Food Aid:|| |-|Distribution of hot meals and food| ||parcels in hard-to-reach areas at| ||various points during the year.| |-|Encouraging tree planting,| ||establishing community gardens and| ||orchards, thereby promoting local| ||food production, contributing to food| ||security and sustainability.| |Emergency Relief:|| |Distribution of food and blankets to the most|| |vulnerable (displaced) families affected by|| |the earthquakes that hit the south of Turkey|| |and northwest of Syria in February 2023.|| |Over 2000 beneficiaries were reached.|| **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 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 ## **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
any person or body entitled
to appoint one or more
trustees|Para 1.25|| **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
relatedparties||| ||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** ## **Receipts and payments accounts** 01-Jan-23 31-Dec-23 **For the period from** **To** ## **CC16a** ## **Section A Receipts and payments** |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**|**Unrestricted**
**funds**
**to the nearest £**|**Restricted**
**funds**
**to the nearest £**|**Restricted**
**funds**
**to the nearest £**|**Endowment funds**
**to the nearest £**|**Endowment funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**| |---|---|---|---|---|---|---|---|---|---| |General fund|**17,939**||**-**||**-**||**17,939**||**5,094**| |Waterproject|||**7,631**||**-**||**7,631**||**2,265**| |Feeding|||**2,165**||**-**||**2,165**||**4,955**| |Zakat|||**2,930**||**-**||**2,930**||**3,022**| |Orphans|||**1,815**||**-**||**1,815**||**1,440**| |SRF|||**80,366**||**-**||**80,366**||**74,360**| ||||||**-**||**-**||| ||||||**-**||**-**||| |**_Sub total_**_(Gross income for_
_AR)_|**17,939**||**94,907**||**-**||**112,846**||**91,136**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| ||**-**||||||||| ||**-**||||||||**-**| |**_Sub total_**|**-**||||||||**-**| |**_Total receipts_**
**A3 Payments**|||||||||| ||||||||||**91,136**| ||||||||||| |
Charitable activities|**- 8,300**||**94,907**||||**86,607**||**63,716**| |Admin cost|**684**||||||**684**||**524**| |GRT|**10,000**||||||**10,000**||| ||||||||||| ||||||||||| ||||**-**||||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||||**-**||**-**| |**_Sub total_ **|**2,384**||**94,907**||**-**||**97,291**||**64,240**| ||||||||||| |**A4 Asset and investment**
**purchases (see table)**|||||||||| |**,**|**-**||||||||| ||**-**||||||||| |**_Sub total_ **|**-**||||||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||||| ||||||||||**64,240**| ||||||||||| ||**15,555**||||||**15,555**||**26,896**| ||**-**||||||**-**||**-**| ||**5,290**||||||**27,616**||**719**| ||**20,845**||||||**43,171**||**27,616**| CCXX R1 accounts (SS) 29/10/2024 1 ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
**B5 Liabilities**
**B3 Investment assets**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B1 Cash funds**|**Details**
**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments account(s))
**Details**
Cash at bank as of 31/12/2021
**Details**|**Unrestricted funds**
**to nearest £**
**20,845**
**-**
**-**
**20,845**
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) 29/10/2024 2 CHARITY COMMISSION FOR ENGLAPK) AND WALES Independent examiner's report on the accounts Section A Independeni Examiner's Report Report to the trustees Foundation For Refugee Economic Empowemenl On accounts for the year ended 31 Decembèr 2023 Charlty no (if any) 1164143 Set out on pages I report lo the Irusiees on my examin81ion of the acwunts of the abov8 charity I"Ihe Trusf) for Ihe year ended 3111212023. Rasponslbllltiès and bas18 of report As the charivs trustees, you are re5J)onsiblg for the preparation ol the a¢¢ounls in a¢¢ordance with Ihe reqtsiremenls of the Charities Act 2011 I"th8 Ad"). I roport in respect of my 8xamlnation of the Trust's accounts carrled out under section 145 of the 2011 Ael and in Garrying Out my examination, I have followed all the applica￿8 Dire¢lion5 given by the Charity Commission under section 14SI5Mb) of the Acl. Independenl examlner's statement I have Completed my examination. I confirm that no m818rial matter$ have come to my allenlion in conneclion with the examlnation which gives me cause to believe that in. any material respecl.. the accountin9 records weffj not kept in accordance with soclion 130 ol the Charities Act- or the a￿oUnts did not accord wlth th8 accotsnling records; or I have no corKems and have com¢ ac¥oss no olher matter5 in connecllon with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be re8¢hed. Sl9ned: Date: Name: Rlchard Paton Rolevant wofessional qualSficatlon{$) or body FCCA IER Oct 2018 Ilf any): Address: Jordangate House. Jordangale. Macclesfield. Cheshire. SK10 1 EQ Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examinalion of tharity aceounls.. direction$ and guidance for examiners). Glvg here brlef dgtalls of any Itoms that the examiner wishes to dl$¢lo$e. IER Oct 2018