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2023-11-01-accounts

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Accounts & Reports For the year ended 1 November 2023

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Contents

For the year ended 1 November 2023
Page
Legal and administrative information 1
Trustees’ report 2-4
Independent examiner’s report 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8-11

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Legal Information

For the year ended 1 November 2023

Status: The organisation is a charity registered with the Charities Commission in The organisation is a charity registered with the Charities Commission in
England & Wales.
Charity number: 1166589
Registered Office &Headquarter
Business Address:
9 Chignal Place
West Ealing
London
W13 0TJ
ruunki.uk/Ruudi1@aol.com
Trustees: Mr Yahya Abdi Ali -Chair
Mrs Farhiya Ali Elmi -Vice Chair
Mr Dualeh Adan Farah -Treasurer
Mrs Asha M. Hashi -Member
Mr Omer M. Suliman -Member
Bankers: Barclays Bank
1 Churchill Place
Canary Wharf
London
E13 5BH
Accountants: Aflah Accounting Services
Unit 9, 194 Fore Street
London
N18 2JB

Page 1

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Trustees Report

For the year ended 1 November 2023

OUR AIMS

The charity operates as a non-profitable charity organisation and a scheme which was sealed by the Charity Commissioners for England and Wales on 18 April 2016 which included the regulations for appointment of trustees. The objects of the charity are the advancement of social cohesion, health and education both in the UK and east Africa. We aim, through our experience, knowledge and facilities to provide a first class education, health care and water facilities in east Africa, and we also aim to provide support and we aim to promote social inclusion by working with people who are socially excluded in the grounds of their ethnic origin and or religion, to relieve the needs of such people and assist them to integrate into society in particular by providing advice and assistance in the UK. We seek to provide a structured educational, medical, social environment that develops the society’s capabilities, competences and skills. We promote health, academic, moral and tolerant development of the society. We provide aim to provide an environment where each person in the countries that we operate and we help can develop and fulfil his or her potential, building their self-confidence and inculcating a desire to contribute to the wider community. In so doing, we prepare individuals for the opportunities, responsibilities and experience of life.

OUR OBJECTIVES

  1. TO PROMOTE SOCIAL INCLUSION FOR THE PUBLIC BENEFIT BY WORKING WITH PEOPLE WHO ARE SOCIALLY EXCLUDED ON THE GROUNDS OF THEIR ETHNIC ORIGIN AND/OR RELIGION, TO RELIEVE THE NEEDS OF SUCH PEOPLE AND ASSIST THEM TO INTEGRATE INTO SOCIETY IN PARTICULAR BY PROVIDING ADVICE AND ASSISTANCE.

2. THE PREVENTION OR RELIEF OF POVERTY IN EAST AFRICA BY PROVIDING OR ASSISTING IN THE PROVISION OF EDUCATION, TRAINING, HEALTHCARE PROJECTS, WATER WELLS AND ALL THE NECESSARY SUPPORT DESIGNED TO ENABLE INDIVIDUALS TO GENERATE A SUSTAINABLE INCOME AND BE SELF-SUFFICIENT.

Our objectives are set to reflect our charitable aims and the ethos of the better society. This objective is, however, set in the context of the broader goals we set for the charitable cause and the wider society. In setting our objectives and planning our activities our trustees have given careful consideration to the Charity Commission’s public benefit guidance. Our key objectives for the year included:

• To build a boarding school in east Africa and to provide education programs and facilities in a rural areas of east Africa.

Page 2

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Trustees Report

For the year ended 1 November 2023

Legal structure

The organisation is a charitable unincorporated association.

Financial statements

The trustees submit their trustees’ report and financial statements for the year ended 1 November 2023.

RISK MANAGMENT.

Risk Management the trustees are responsible for the overseeing of the risks faced by the charity. Detailed considerations of risk are delegated to the chairman of the charity to identified, assessed and controls established throughout the year. A formal review of the charity’s risk management processes is undertaken on an annual basis. Risk is managed under the headings of financial sustainability, safety, volunteer’s welfare, employment, and events and community access. The main risks that the trustees have identified and the plans to manage those risks are:

• Reputation: - The charities success is built on its reputation for the projects provided and completed and well-being of our volunteers. We manage this risk through safeguarding policies, staff recruitment policies, pastoral support for both trustees and volunteers and active identification and resolution of health and safety related issues.

• Money: - Our ability to continue is reliant on individual donations and the ability to pay bills as they fall due. This risk is managing by marketing activity, having a reputation for charities functions and active cash-flow management including access to an adequate short-term credit facility for the charity.

• Through the risk management processes established for the charity, the trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

CHARITY TRUSTEES

The trustees are the charity trustees of Guryosamo International Foundation Trust. New trustees are appointed by the trustee’s chairman. All trustees have served throughout the year

Trustees Responsibilities

The trustees are responsible for keeping proper accounting records which disclose at any time the financial position of the charity and enable them to ensure that the financial statements comply with the relevant regulations.

The trustees oversee preparation of financial statements, select suitable accounting policies and make judgments and estimates that are reasonable and prudent to give the true state of affairs of the charity.

Trustees are also responsible for safeguarding the assets of the charity. They are elected and replaced as set out in the constitution.

Page 3

GURYOSAMO INTERNATIONAL FOUNDATION TRUST Trustees Report (Continues) For the year ended 1 November 2023

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

Our activities are carried out trough presenting our aims and objectives to the public to raise funds so we can provide the services which are provided within our objectives and to meet our annual targets. Our results showed further improvements with our public engagement being the best achieved by the standard to date. The development also includes the development of individuals, including the ‘soft skills’ of self-presentation, team working, coaching and mentoring of others and social skills. The cooperation activities are significant for being the main avenue for developing these strengths where we combine the personal interests of the community with the opportunities to develop the society. Our aim for the near future is also to provide, teaching programs, Sports facilities for both girls and boys with the boarding school, fitness for all, and students will have a free choice of sport, from a wide range of options, football, netball, basketball and running.

We have liaised with locals in east Africa to work together in the future and sharing our vision with supports our view of the success of the programmes. We believe the exchange of ideas and the opportunity to work together, learn and work alongside other agencies and different aspects of the society is mutually beneficial. This work also advances our broader objective aims and has an undoubted benefit when we work in different working environment by developing local social skills. We will continue to liaise closely with many international and national agencies we work with so that our programmes continue to meet the needs of those who participate and to deliver success and many other benefits besides. We aim in the future to provide Community Services where we provide young adults in the UK to take part in practical voluntary service in the local community and, in their Gap Year, at our schools in east Africa One in Somalia. Through these opportunities to serve others, young adults also gain educationally though a meaningful interaction with those outside our School community.

OUR FINANCES

The principal source of income is individual charitable donations accounting for full sum of the charity income. The trustees are continuing their strategy of deploying all net incoming resources to investing in the objectives of the charity purposes and fabric of society cohesion. As a non-profit charity we enjoy tax exemption on our activities and on our income and gains provided these are applied for our charitable aims.

The trustees of the charity have responsibility for all financial operations. For ease of administration the complete revenue and costs are recorded and maintained in a spreadsheet as part of our responsibility. A yearly reconciliation takes place thus ensuring income and expenditure are evenly shared and recorded in the respective accounts.

Reserves and Financial Health The trustees regularly review the finances, budgets and spend against budget together with a monthly cash flow analysis as part of the effective stewardship of the charity. The trustees consider that given the strength of the charity’s balance sheet, the stable cash flow from individual donations, the ongoing popularity of our charity, and the available banking facility that can be called upon if need arises. The trustees recognise that the level of reserves fluctuates during periods of funds in the charity and the arrangements with our bank are in place to provide an adequate ‘safety net’ should it be required.

............................. Chairman Yahya Abdi Ali

Date: 24 February 2025

Page 4

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Independent Examiners Report

For the year ended 1 November 2023

I have examined the accounts on pages 6 to 11, which have been prepared on the basis of accruals.

Respective responsibilities of trustees and examiner

The trustees of the charity are responsible for the preparation of accounts; we consider that the audit requirement under section 144 of the Charities Act 2011 does not apply. It is my responsibility to examine the accounts, without performing an audit, and to report to trustees.

Basis of independent examiner’s report

This report is in respect of an examination carried out under section 145 of the Charities Act 2011 and in accordance with the directions given by the charity commissioners under section 145(5)(b). An examination includes a review of the accounting records kept by the charity trustees and a comparison of the accounts presented with those records. It also includes a review of the accounts and making such enquiries as are necessary for the purpose of this report. The procedures undertaken do not constitute an audit.

Independent examiner’s statement

Based on my examination, no matter has come to attention which gives me reasonable cause to believe that in any material respect accounting records for the year ended 1 November 2023 have not been in accordance with section 130 of the Charities Act 2011, or that the accounts presented do not accord with those records or comply with the accounting requirements of the Charities Act 2011. No matter has come to my attention in connection with my examination to which, in my opinion, attention should be drawn to enable a proper understating of the accounts to be reached.

Aflah Accounting Services Unit 9, 194 Fore Street London N18 2JB

Date: 24 February 2025

Page 5

GURYOSAMO INTERNATIONAL FOUNDATATION TRUST

Statement of Financial Activities

For the year ending 01 November 2023

Notes
Incoming resources
From charitable activities
2
Investment income
2
Total incoming resources
Resources expended
Charitable activities
3
Governance costs
4
Total Resources Expended
Net resources for the year
Fund balances at 02 November 2022
Fund balances at 1 November 2023		 Unrestricted
funds
£
1,115
-		 Restricted
funds
£
-
-		 2023
Total
£
1,115
-		 2022

Total
£
1,190
-
1,115 - 1,115 1,190
2,250
200		 -
-		 2,250
200		 4,360
250
2,450 - 2,450 4,610
(1,335)
5,450		 -
-		 (1,335)
5,450		 (3,420)
8,870
4,115 - 4,115 5,450

Page 6

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Balance Sheet

For the year ending 1 November 2023

Notes
Fixed assets
Tangible assets
6
Current Assets:
Prepayment
Cash at bank and in hand
Creditors:amounts falling
due within one year
7
Net Current Assets
Total Assets less current liabilities
Funds of the charity:
Balance for the year
Balance brought forward		 £
£
-
-
4,315
4,315
(200)
4,115
4,115
(1,335)
5,450
4,115
2023		 2022
£
£
-
-
5,700
5,700
(250)
5,450
5,450
(3,420)
8,870
5,450		 2022
£
£
-
-
5,700
5,700
(250)
5,450
5,450
(3,420)
8,870
5,450
5,450
(3,420)
8,870
5,450

For the financial year ended 1 November 2023, the company was entitled to exemption from audit under s477 of the Companies Act 2006; and no notice has been deposited under s476.

The trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

The financial statements on pages 6 to 11 were approved by the board and signed on their behalf by:

……………………………….. Yahya Abdi Ali Chairman

Date: 24 February 2025

Page 7

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Notes to the Accounts

For the year ending 1 November 2023

1 Accounting Policies

The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (Revised SORP 2005) and the Financial Reporting Standard for Smaller Entities.

Grants and donations are recognised on accruals basis.

Incoming resources are reported gross.

Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.

Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.

Tangible fixed assets are stated at cost less depreciation.

Provision for depreciation of tangible fixed assets held by the charity is made at an annual rate of 25% on reducing balance method.

Page 8

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Notes to the Accounts

For the year ended 1 November 2023

2. Grants and Donations

2. Investment Income
Interest receivable
Total Incoming Resources
Donations & Contributions		 Unrestricted
Funds
£
-
-
1,115
-
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
-
-
-
-
-		 2023
Total
£
-
-
1,115
-
-
-
-
-
-
2022
Total
£
-
-
1,190
-
-
-
-
-
-
1,115 - 1,115 1,190
Unrestricted
Funds
£
Restricted
Funds
£		 2023
Total
£
2022
Total
£
- - - -
1,115 - 1,115 1,190

Page 9

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Notes to the Accounts

For the year ending 1 November 2023

3a. Direct Charitable Expenditure

Stationary & printing
Miscellaneous expenses
3b. Support Costs
Total Charitable Activities
Telephone and internet
Charitable activities
Rentals & insurance
Light, heat & water
Depreciation
Insurance
Repairs and Maintenance
General Administration		 Unrestricted
Funds
Restricted
Funds
2023
Total
2022
Total
£
£
£
£
2,250
2,250
4,360
-
-
-
-
-
-
-
-
-
-
-
2,250
-
2,250
4,360
Unrestricted
Funds
Restricted
Funds
2023
Total
2022
Total
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,250
-
2,250
4,360

4. Governance

Audit and Accountancy Legal and Professional

Total Resources Expended

Unrestricted
Funds
£
200
-		 Restricted
Funds
2023
Total
£
£
-
200
-
-		 2022
Total
£
250
-
200 -
200		 250
2,450 -
2,450		 4,610

Page 10

GURYOSAMO INTERNATIONAL FOUNDATION TRUST

Notes to the Accounts

For the year ending 1 November 2023

5
Paid employees
5.1
Staff costs
Gross wages salaries and benefits in kind
Employers National Insurance costs
5.2
Number of employees
The average monthly number of employees during
the year was:
Charitable activities
6
Tangible Fixed Assets
Prepayment
Cost
At 2 November 2022
Depreciation
At 2 November 2022
At 1 November 2023
Additions
Accruals - Accountancy fee for 2022/23
8. Creditors – Amounts falling due within one year
At 1 November 2023
Charged in the Year
Net Book Value
At I November 2023
7. Current Assets		 2023
£
-
-		 2022
£
-
-
-
2022
Number
Total
£
-
-
-
-
-
-
-
2022
£
-
-
2022
£
250
-
-
2023
Number
Office
Equipment
£
-
-
-
-
-
-
2023
£
-
-
2023
£
200
-
200 250

Page 11