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← Sharing Wonders

2024-02-29-accounts

COMPANY REGISTRATION NUMBER: 09459426 CHARITY REGISTRATION NUMBER: 1170087

Sharing Wonders Company Limited by Guarantee Financial Statements 29 February 2024

MILLET ACCOUNTANTS LTD

Chartered accountants & statutory auditor Beyond Aldgate Tower 2 Leman Street Aldgate E1 8FA

Sharing Wonders

Company Limited by Guarantee

Financial Statements

Year ended 29 February 2024

Page
Trustees' annual report (incorporating the director's report) 1
Independent auditor's report to the members 7
Statement of financial activities (including income and
expenditure account) 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14
The following pages do not form part of the financial statements
Detailed statement of financial activities 22
Notes to the detailed statement of financial activities 23

Sharing Wonders

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 29 February 2024

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 29 February 2024.

Reference and administrative details

Registered charity name Sharing Wonders Charity registration number 1170087 Company registration number 09459426 Principal office and registered 72 Cardigan Street office Luton Bedfordshire LU1 1RR England Website www.sharingwonders.org The trustees Mr Ali Mrs Ali – Chair Mrs Bajwa Auditor Millet Accountants Ltd Chartered accountants & statutory auditor Beyond Aldgate Tower 2 Leman Street Aldgate E1 8FA

Structure, governance and management

Governing Documents

Sharing Wonders is governed by its Memorandum and Articles of Association, originally incorporated on 26 February 2015. These were amended by special resolution dated 21 March 2016, further amended by a Certificate of Incorporation on Change of Name dated 6 October 2016, and subsequently amended again by special resolution registered at Companies House on 26 October 2016. The Board of Trustees is responsible for the overall governance and strategic direction of the charity, ensuring its operations align with its charitable objectives.

Structure of the organisation

Sharing Wonders is a limited by Guarantee company trustees are responsible for ensuring that the charity is compliant with its legal duties and is fulfilling its charitable objectives. The trustees monitor all aspects of strategic and business operations and meet regularly to review and evaluate performance. The trustees keep up to date with changes in the law and developments in the operational environment through regular training and learning. This has enabled the charity to grow this year and increase its income and beneficiaries around the world.

1

Appoint of Trustees

New trustees are appointed by a resolution of the existing trustees at a special meeting. Typically, new trustees are individuals who already have a connection with, and an understanding of, the charity's work. Induction meetings are held prior to a new trustee’s first Board meeting to ensure they are well-informed about the charity’s activities, governance, and responsibilities. The Board of Trustees meets quarterly, with additional ad hoc meetings and telephone conferences arranged as necessary to address specific matters or urgent issues.

Risk Management

Sharing Wonders actively monitors and assesses both internal and external risks associated with operating in the global humanitarian relief sector. Working in high-risk regions presents numerous challenges, and once potential risks are identified, the charity takes all necessary measures to minimise any threat to its reputation, volunteers, international partners, and beneficiaries.

To support its risk management efforts, Sharing Wonders employs a range of due diligence tools, to conduct thorough checks on all third-party suppliers and partners. The charity also has a suite of operational risk assessments and internal policies designed to protect its assets and ensure effective governance. These are reviewed regularly by the trustees and external auditors.

Key risks include financial risk, such as a loss of income due to events like the COVID-19 pandemic, which is mitigated through careful financial planning, regular monitoring, spending reviews, and a reserves policy. Regulatory and legal risks, including non-compliance with Charity Commission requirements, are addressed through ongoing trustee training, subscriptions to regulatory updates, and regular internal and external audits. To protect against fraud or error, Sharing Wonders maintains strong governance structures, rigorous financial controls, internal checks and balances, and oversight by independent auditors. Through these measures, the charity ensures it remains resilient, compliant, and capable of delivering its mission effectively.

1

Sharing Wonders

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 29 February 2024

Objectives and activities

Public benefit statement

The trustees present their report with the financial statements of the Sharing Wonders (the "Charity") for the year ended 29 February 2024. The Trustees have adopted the provision of Accounting and Reporting by Charities Statement of Recommended Practice (charity "SORP") applicable to charities preparing their accounts in accordance with the Financial Reporting Standard ("FRS") applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective from 1 January 2015).

The trustees confirm they have complied with their duty under section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. This guidance has been considered in reviewing the charity’s aims and in planning its activities.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

2

Sharing Wonders

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 29 February 2024

Achievements and performance

Summary of Achievements

Throughout this reporting period, our charity remained committed to education and self-sufficiency projects, positively impacting countless lives. Below are the key achievements and the difference they have made to our beneficiaries and society:

Infrastructure and Community Support

Ramadan 2023 Relief Efforts

With the blessing of generous donations, we were able to expand our Ramadan support across Gambia, Pakistan, and Bangladesh, distributing:

Healthcare Initiatives

Conducted our annual free cervical cancer screening clinic in Kerewan, Gambia, where over 140 women received check-ups, including diabetes and blood pressure screenings. Several critical cases were identified and referred for further treatment. Completed a major renovation of the Antenatal Ward at Banjul Hospital, equipping it with new medical tools and facilities. In recognition of this contribution, the hospital officially renamed the facility the 'Sharing Wonders Antenatal Ward', and the opening ceremony was featured on national television.

Volunteer Engagement

In December 2023, we successfully organized a volunteer trip to Gambia, where UK volunteers visited our projects. This experience allowed them to witness firsthand the challenges faced by communities and the tangible impact of our work. The trip deepened their understanding of local culture and the significance of sustainable aid initiatives.

3

Sharing Wonders

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 29 February 2024

Major Challenges

The rate of inflation in Gambia and Pakistan continues to impact those living below or near the poverty line. Additionally, the rising cost of living is pushing middle-class families toward financial hardship. Inflation has had a twofold effect:

To mitigate these issues, we have adopted bulk purchasing strategies where possible. For example, during new masjid constructions, we procured most materials at the project's outset to reduce costs. However, this approach introduced additional logistical challenges, such as the need for adequate storage solutions for contractors. We continue to work to find new suppliers that provide cost effective supplies, and our bulk purchasing provided the leverage to help with negotiations.

Our Ongoing Mission

We remain dedicated to:

We extend our heartfelt gratitude to our donors, volunteers, and supporters for making these achievements possible. Together, we continue to bring hope and positive change to communities worldwide.

Principal Risks and Uncertainties

The charity operates in regions affected by economic instability, particularly inflation in Gambia and Pakistan, which has:

Mitigation strategies include:

We remain alert to exchange rate volatility, regulatory changes, and operational risks in international delivery. The trustees review risks regularly through our risk management framework.

Financial key performance indicators

5

Sharing Wonders

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 29 February 2024

Financial review

The financial position of the charity at 29 February 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:

unaudited 2024 2023 £ ……………………………………………£ Net Income 376,235 243,098 Unrestricted 376,235 243,098 Revenue Funds Available for the General purposes Of the charity Total Funds 376,235 243,098

Donations are often made for specific causes and specific amounts, which are then utilised.

Over time, the charity has been working to ensure enough funds are held under a `general use' category, which helps the charity to fund emergency needs that may arise e.g. helping with funeral arrangements.

In addition, the charity has several monthly commitments related to supporting teachers and child educational programs. We need to maintain a reserve in case donors stop funding these causes. In such cases, the reserve must then be used to provide funding, until such time new donors come forward.

The charity is continuously working to balance the funds in account marked as reserve versus utilising funds when needed most.

Amount of reserves held

This varies depending on the ongoing funding we have, but we try and maintain around £40,000.

Trustees' responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

5

Sharing Wonders

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 29 February 2024

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The trustees' annual report and the strategic report were approved and signed on behalf of the board of trustees by:

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03 Jul 2025

Mrs Ali - Chair Trustee

6

Sharing Wonders

Company Limited by Guarantee

Independent Auditor's Report to the Members of Sharing Wonders Year ended 29 February 2024

Opinion

We have audited the financial statements of Sharing Wonders (the 'charity') for the year ended 29 February 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

7

Sharing Wonders

Company Limited by Guarantee

Independent Auditor's Report to the Members of Sharing Wonders (continued) Year ended 29 February 2024

Other matters

We draw to your attention that the comparative period financial statements were unaudited.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

8

Sharing Wonders

Company Limited by Guarantee

Independent Auditor's Report to the Members of Sharing Wonders (continued)

Year ended 29 February 2024

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that was applicable to the charity. We determined that the most significant laws and regulations which are directly relevant to specific assertions in the financial statements are those related to the reporting in the United Kingdom.

We understood how the company is complying with those legal and regulatory frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborate our enquiries through discussion with the director. There were no legal matters detected through our audit procedure.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it is considered there was a susceptibility of fraud. We also considered potential fraud drivers: including financial and other pressures, opportunity, and personal or corporate motivations. We considered the programmes and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. Where the risk was considered higher, we performed audit procedures to address each identified fraud risk. These procedures included reviewing large and unusual bank transactions; collaborating information provided by management; and testing large samples of transactions.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

9

Sharing Wonders

Company Limited by Guarantee

Independent Auditor's Report to the Members of Sharing Wonders (continued)

Year ended 29 February 2024

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Millet BA MBA FCA ICAEW (Senior Statutory Auditor)

For and on behalf of Millet Accountants Ltd Chartered accountants & statutory auditor Beyond Aldgate Tower 2 Leman Street Aldgate E1 8FA

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03 Jul 2025

10

Sharing Wonders

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 29 February 2024

Year ended 29 February 2024
unaudited
2024 2023
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 5 1,370,789 1,370,789 925,511
Investment income 6 571 571 –
──────────── ──────────── ─────────
Total income 1,371,360 1,371,360 925,511
════════════ ════════════ ═════════
Expenditure
Expenditure on charitable activities 7,8 1,388,214 1,388,214 943,154
──────────── ──────────── ─────────
Total expenditure 1,388,214 1,388,214 943,154
════════════ ════════════ ═════════
──────────── ──────────── ─────────
Net expenditure and net movement in funds (16,854) (16,854) (17,643)
════════════ ════════════ ═════════
Reconciliation of funds
Total funds brought forward as previously reported 243,098 243,098 260,741
Prior year adjustment 149,991 149,991 –
──────────── ──────────── ─────────
Total funds brought forward as restated 393,089 393,089 260,741
──────────── ──────────── ─────────
Total funds carried forward 376,235 376,235 243,098
════════════ ════════════ ═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 20 form part of these financial statements.

11

Sharing Wonders

Company Limited by Guarantee

Statement of Financial Position

29 February 2024

29 February 2024
unaudited
2024 2023
Note £ £
Current assets
Debtors 14 602 –
Cash at bank and in hand 388,333 245,499
───────── ─────────
388,935 245,499
Creditors: amounts falling due within one year 15 12,700 2,401
───────── ─────────
Net current assets 376,235 243,098
───────── ─────────
Total assets less current liabilities 376,235 243,098
───────── ─────────
Net assets 376,235 243,098
═════════ ═════════
Funds of the charity
Unrestricted funds 376,235 243,098
───────── ─────────
Total charity funds 16 376,235 243,098
═════════ ═════════

These financial statements were approved by the board of trustees and authorised for issue and are signed on behalf of the board by:

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03 Jul 2025

Mrs Ali - Chair Trustee

The notes on pages 14 to 20 form part of these financial statements.

12

Sharing Wonders

Company Limited by Guarantee

Statement of Cash Flows

Year ended 29 February 2024

Year ended 29 February 2024
unaudited
2024 2023
£ £
Cash flows from operating activities
Net expenditure (16,854) (17,643)
Adjustments for:
Other interest receivable and similar income (571) –
Interest payable and similar charges 6,806 –
Accrued expenses 10,299 2,401
Changes in:
Trade and other debtors (602) –
──────── ────────
Cash generated from operations (922) (15,242)
Interest paid (6,806) –
Interest received 571 –
─────── ────────
Net cash used in operating activities (7,157) (15,242)
═══════ ════════
Net decrease in cash and cash equivalents (7,157) (15,242)
Cash and cash equivalents at beginning of year 245,499 260,741
Prior year adjustment to cash and cash equivalents at beginning of year 149,991
───────── ────────
Cash and cash equivalents at end of year 388,333
═════════		 245,499
════════

The notes on pages 14 to 20 form part of these financial statements.

13

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 29 February 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 72 Cardigan Street, Luton, Bedfordshire, LU1 1RR, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Foreign currencies

Amount of exchange differences recognised in net income/expenditure during the period, except for those arising on financial instruments measured at fair value through net income/expenditure.

14

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 29 February 2024

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

15

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 29 February 2024

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

16

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 29 February 2024

3. Accounting policies (continued)

Financial instruments (continued)

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The nature of the guarantee of members including liability of members in case of winding up:

The lability of the members is limited

Every member promises, if the Charity is dissolved while they are a member or within twelve months after they cease to be a member, to contribute such sum (not exceeding £1) as may be demanded of them towards the payment of the debts and liabilities of the Charity incurred before they cease to be a member, and of the costs charges and expenses of winding up, and the adjustment of the rights of the contributories among themselves.

Dissolution

The members of the Charity may at any time before, and m expectation of, its dissolution resolve by means of a resolution passed by a majority of two-thirds (2/3rds) of the total number of Members of the Chanty, that any net assets of the Chanty after all its debts and liabilities have been paid, or provision has been made for them, shall on or before the dissolution of the Chanty be applied or transferred in any of the following ways

(a) directly for the Objects, or

(b) by transfer to any Company or charitable institution or not-for-profit organisation for purposes similar to the Objects, or

(c) to any Company or charitable institution or not-for-profit organisation for use for particular purposes that fall within the Objects,

In no circumstances shall the net assets of the Charity be paid to or distributed among the members of the Chanty.

17

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 29 February 2024

5. Donations and legacies

unaudited
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Donations
Donations 1,370,789 1,370,789 925,511 925,511
════════════ ════════════ ═════════ ═════════
6. Investment income
unaudited
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Bank interest receivable 571 571 – –
════ ════ ════ ════
7. Expenditure on charitable activities by fund type
unaudited
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Activity 1,310,392 1,310,392 924,971 924,971
Support costs 77,822 77,822 18,183 18,183
──────────── ──────────── ───────── ─────────
1,388,214 1,388,214 943,154 943,154
════════════ ════════════ ═════════ ═════════
8. Expenditure on charitable activities by activity type Expenditure on charitable activities by activity type
Activities unaudited
undertaken Total funds Total fund
directly Support costs 2024 2023
£ £ £ £
Activity 1,310,392 – 1,310,392 924,971
Governance costs – 77,822 77,822 18,183
──────────── ──────── ──────────── ─────────
1,310,392 77,822 1,388,214 943,154
════════════ ════════ ════════════ ═════════
9. Net expenditure
Net expenditure is stated after charging/(crediting): unaudited
2024 2023
£ £
Foreign exchange differences 46,934 –
════════ ════
10. Auditors remuneration
unaudited
2024 2023
£ £
Fees payable for the audit of the financial statements 5,700
═══════		 –
════

18

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 29 February 2024

11. Independent examination fees

Independent examination fees
unaudited
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 7,000 2,400
═══════ ════

12. Staff costs

The average head count of employees during the year was Nil (unaudited 2023: Nil).

No employee received employee benefits of more than £60,000 during the year (unaudited 2023: …….Nil).

There are no employees of the charity.

13. Trustee remuneration and expenses

The trustees have spent approximately over 3,500 hours collectively to deliver charitable causes and have not been remunerated by the charity for their time.

One or more trustees have claimed expenses or had their expenses covered by the charity.

The total amount of out-of-pocket expenses reimbursed by the charity is £19,117 (£11,177 in 2023 unaudited).

The nature of the reimbursed expenses is as follows:

unaudited
Category 2024…………………………2023
Travel £14,861
£11,177
Direct charitable activity £3,836………..—
Website and IT…………………………………….£420…………………………..—

Additionally, £7,700 of the travel costs was covered by volunteers.

14. Debtors

14. Debtors
unaudited
2024 2023
£ £
Trade debtors 602 –
════ ════
15. Creditors: amounts falling due within one year
unaudited
2024 2023
£ £
Accruals and deferred income 12,700 2,401
════════ ═══════

19

Sharing Wonders

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 29 February 2024

16. Analysis of charitable funds

Unrestricted funds

At
At Prior year
29 February
1 March 2023 Income Expenditure adjustments 2024
£ £ £ £ £
General funds 243,098 1,371,360 (1,388,214) 149,991 376,235
═════════ ════════════ ════════════ ═════════ ═════════
At
At Prior year
28 February
1 March 2022 Income Expenditure adjustments 2023
£ £ £ £ £
General funds 260,741 925,511 (943,154) – 243,098
═════════ ═════════ ═════════ ════ ═════════

17. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2024
£ £
Current assets 388,935 388,935
Creditors less than 1 year (12,700) (12,700)
───────── ─────────
Net assets 376,235 376,235
═════════ ═════════
unaudited
Unrestricted Total Funds
Funds 2023
£ £
Current assets – –
Creditors less than 1 year – –
──── ────
Net assets – –
════ ════
18. Analysis of changes in net debt
At
At 1 Mar 2023 Cash flows 29 Feb 2024
£ £ £
Cash at bank and in hand 245,499 142,834 388,333
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19. Related parties

There were no related party transactions during the year. (unaudited 2023 Nil)

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20. Disclosure of Grants Payable

The total grants payable during the year, analysed by destination, type of recipient, and purpose, are as follows:

(a) Total Grants Payable by Country and Recipient Type

unaudited
Country Grants to Institutions (£) Grants to Individuals (£) 2024 Total (£) 2023 Total (£)
Gambia 30,280 783,386 813,666 586,711
Pakistan 55,181 410,726 465,907 321,300
United Kingdom — 23,315 23,315 16,960
Bangladesh — 7,504 7,504 —
Total 85,461 1,224,931 1,310,392 924,971
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Note: No grants to institutions were made in the UK or Bangladesh.

Below is a list of institutional grants made during the year, analysed by country and purpose:

Gambia – Educational Support

Total: £30,280

 Al Wafa Memorisation School

 Hannah Islamic School

 Al-Haaris Islamic School

Pakistan – Health and Education Support

Total: £55,181

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21. Breakdown of support costs

21.
Breakdown of support costs
unaudited
2024 2023
£ £
Other motor/travel costs 8,529 11,177
Legal and professional fees 13,310 2,687
Telephone 863 1,403
Other office costs 68 44
Other interest payable and similar charges 6,806 –
Foreign exchange gain/loss 46,934 –
Website and IT 1,312 2,351
Subscriptions – 50
Sundry expenses – 471
Total 77,822 18,183
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22. Correction of material prior period errors

A material prior period error was identified relating to undisclosed bank accounts held by the charity. Although these accounts were presented to the previous accountant, they were not included in the financial statements, and instead, the amounts transferred to them were incorrectly recorded under ‘Direct charitable activity’. The error has now been corrected by recognising the relevant bank balances and adjusting the previously misstated expenditure. To the extent practicable, the financial statements have been restated to reflect the correction, including adjustments to cash and bank balances and reductions in charitable expenditure for each affected period. The opening balances of the earliest period presented have been restated to include £34,475 and £115,516 held in the respective bank accounts.

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SIGNATURE CERTIFICATE

Document

Name Final Accounts 2024.pdf Creator Andrew Millet (andrew@millet.org.uk) Date 03 July 2025 8:48:09 UTC Identifier b86b56eb-e91c-407e-b322-a8440b0704e2

Signers

admin@sharingwonders.org

E-mail admin@sharingwonders.org Signed 03 July 2025 11:01:46 UTC IP address 86.190.181.44

Andrew Millet

E-mail andrew@millet.org.uk Signed 03 July 2025 11:24:05 UTC IP address 62.64.187.118