COMPANY REGISTRATION NUMBER: 09459426 (England and Wales) CHARITY REGISTRATION NUMBER: 1170087 Sharing Wonders Company Limited by Guarantee Financial Statements 28 February 2025 MILLET ACCOUNTANTS LTD Chartered accountants & statutory auditor Beyond Aldgate Tower 2 Leman Street Aldgate E18FA
Sharing Wonders Company Limited by Guarantee Financial Statements Year ended 28 February 2025 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members 10 Statement of financial activities (including income and expenditure account) 14 Statement of financial position 15 Statement of cash flows 16 Notes to the financial statements 17
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 28 February 2025 The Trustees present their Annual Report, together with the financial statements Sharing wonders for the year ended 28 February 2025. This report fulfils the requirements of both a Trustees. Report and a Directors. Report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company, governing document and the provisions of the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Reference and admlnlstratlve detalls Regist•red charity name Sharing Wonders Cliarlty reglstratloii iiuii)ber 1170087 Company registration number 09459426 Prlncipal offica and registared 72 Cardigan Street office Luton Bedfordshire LU1 1RR England Webslte www.sharingwonders.org The trustees Mr Aman Ali Mrs Badcr Munccr Ali - Chair Mrs Nasrin Akhtar Bajwa Auditor Millet Accounlants Lld Chartered accountants & statutory auditor Beyond Aldgate Tower 2 Leman Street Aldgate E18FA
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 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 resF)onsible 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 dale wilh 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. 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 responsibi lities. 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 rlsk management efforts, Sharlng Wonders employs a range of due dlllgence 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.
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 Objectives and activities Promoting quality education for children in a safe and encouraging environment Encouraging self-sustainable projects to help break the reliance on aid. Providing humanitarian support where and when needed. Building and repair community schools, as well help helping support teachers. Proving child education sponsorship programs for those who cannot afford education. Higher education support through local and international university programs. Provide infrastructure for community agricultural gardens for self-sustenance. Build and repair masjids and schools for community use. Building water wells providing safe drinking water that is easily accessible. Regular food distribution to struggling families. Social welfare through examples such as medical support and clothes distribution. Public benefits The trustees have had regard to the guidance issued by the Charity Commission on public b8n@fit. Strateglc report The following sections for achievements and performance and financial review form the strategic report of the charity. Achievements and performance Our Ethos - Education, Self-sustainability & Social Welfare This year, Sharing Wonders has been truly blessed. Many of our existing donors have continued to trust us with their generous contributions and recommendations. welcoming new supporters into the Sharing Wonders family. Together, we have extended our reach and served communities across Bangladesh, The Gambia, England, and Pakistan.
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 Sharing Wonders Annual Impact Report 2024.2025 Bunqladesh . GaiyTbio . Eiyglond PnA'15ran K•y Highlights 600+ 4.700+ 10.000+ 300+ Education 600 + Childfen Spon50Ted Montlty 15 + New Cl•ssrooms Buih 750 + aassroom C•pKity Created Gr•du•lion Prizes & Incentives Self-sustainability Tailoring Centre Opened 42 Commerce Carts Provided 14 Chicken Starter P•cks Pairs of Gt$ Provlded 80 + Women's Market Capacity Sewing Machines for Women Social Welfare R•madan & Eid Al.Adh• lftwKt 4.700+ 22.000+ 93.000+ Tonn% ol Fo¢bd lo 016th 22 Masjids Built 2.500 + Worship Spaces Created 300 + Waier Projects Compleied 10.000 + School Meals Provided 1.400 Flood Relief Food Pxks 30 Homes Buili in Pakist•n 1,200 + Qur'•ns DiMiil)uied SO+ Wedding Stsnef P•cks Volunteers in GJmts•
Education - The Seed of Opportunity Education is the key to breaking the cycle of povety- By helping children access and stay in school, we give them the skills, confidence, and hope to build a better future. Through sponsorships, improved classrooms, and direct school support, we open doors to learning and lasting opportunity. Child Sponsorship.. Each month we supported over 600 children. including orphans and those from families in need. Your donations covered school fees, uniforms, stationery, and monthly food support, helping each child to remain in education without hardship. Our quarterly distributions and home visits ensure we closely monitor every child's progress and well-being. New Classrooms: We added more than 15 classrooms across The Gambia and Pakistan, each designed to accommodate over 50 children in a safe, clean, and comfortable learning space. Incentives for Excellence: We introduced graduation prizes and performance incentives to encourage students to achieve their best. School Grants.. When families struggle to pay fees on time, schools often face funding gaps, leaving teachers unpaid and infrastructure neglected. Our monthly school grants helped bridge these shortfalls ensuring teachers are paid and schools can maintain essential facilities. Self-sustainability - Empowering communities Self-sustaining projects give individuals and families the tools to support themselves long term. By providing opportunities such as farming. livestock rearing, and small business start-ups, we help communities reduce dependency on aid and build stable. dignified livelihoods. These initiatives create lasting impact - families can generate income, educale their children, and invest back into their local economy, breaking the cycle of poverty. This year we focused strongly on helping families build lasting livelihoods and reduce th&ir dependency on aid. Tailoring Skills in The Gambia Our first Tailoring Centre opened, giving young adults a practical route to income. Two students successfully graduated from the pilot programme, and four more have started a six-month training course, learning to create and sell their own garments. Empow8ring Woman in Pakistan We supplied sewing machines to women so they can run tailoring businesses from home, turning skills into sustainable household income. Commerce Carts - Mobile Shops In Pakistan, we provided 42 fully stocked commerce carts, each hand-built and tailored to the beneficiary's trade from fruit and vegetable stalls lo small grocery stores. These carts become entire small businesses on wheels, enabling families to meet daily expenses and build independence. Livestock Starter Packs Families received livestock starter packs - including 14 sets of chickens and 3 pairs of goats. These animals provide food, eggs. and income. while also reproducing to create future stock and security for the household. Women's Market in Brikama We built a brand-new women's market in Brikama, The Gambia, with capacity for over 80 women sellers. Designed for hygiene and accessibility, the market features tiled tables, waste-water channels, a 10,000-litre drinking water system, dedicated shops, a security office, ramps, and specially designed tables for disabled sellers. We were honoured to have the First Lady of The Gambia officially open the market, marking a new era of opportunity for local women entrepreneurs.
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 Social Welfare - Supporting the Most Vulnerable Alongside our long-term development work. we continued to meet urgent social welfare needs for families facing hardship. Through food distributions, emergency support, and essential household items, we provided relief to those struggling with daily necessities. We helped widows, orphans, and families in crisis with assistance such as staple food packs, clothing, and small grants to cover medical care or shelter. These interventions offer immediate dignity and security, bridging the gap until longer-term solutions become possible. Masjids - the heart of the community Masjids serve far more than a place of prayer- they are centres of learning. support, and togetherness. They provide a safe space where people gather for worship, education, and community events. Children attend to learn moral values and religious teachings, while families find guidance and support in times of need. A well-built masjid strengthens unity, fosters social wellbeing, and becomes a hub for sharing knowledge and compassion within the neighbourhood. We built 22 new m83jid3 acr03a The Cambia and Pakistan. providing over 2,500 worship apaeea in The Gambia alone, helping communities gather for prayer, learning. and support. Feeding Programmes We delivered feeding programmes that provided over 10.000 nutritious meals to schoolchildren, many of whom would otherwise go hungry during the school day. Food Packs & Meat Distribution.. In The Gambia and Pakistan, we supplied vital food packs and distributed fresh meat, including 20 goats shared among 200 families - ensuring even the most vulnerable had nutritious meals. Wedding Support.. More than 50 brides from low-income families began married life with dignity thanks to wedding starter packs. Clothing (donated from the UK) and essentials such as cutlery. blankets. and dishes, gave each new household a safe, practical start. Medical Aid.. Emergency medical assistance was provided to families in crisis. and essential medical equipment 8nd children's clothing were delivered to EFSTH Hospital in The Gambia. Volunteer Engagement 2024: Eight volunteers self-funded and personally led impactful projects, immersing themselv8s in the local culture, spending time with sponsored children, and seeing the difference their efforts make. Many returned home inspired and committed to continue supporting Sharing Wonders. Water Projects.. We completed over 300 water projects across The Gambia and Pakistan a combination of wells, hand pumps, and larger solar-powered systems - bringing safe drinking water to thousands of people in remote and underserved communities. Flood Aid Flelief. In response to devastating floods, we distributed emergency supplies- o Pakistan.. 900 food packs (2,700 kg rice, 9,000 kg flour) o Bangladesh.. 500 food packs (15,000 kg rice) These provided urgent relief and nutrition to affected families.
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 Qur'an Distribution- We shared over 1,200 Qur'ans across multiple communities, allowing families and schools to benefit from sacred learning and guidance. Community Housing: In rural Sindh, Pakistan, we built 30 new two-bedroom homes, each with a kitchen, toilet, fresh running water, a safe compound, a masjid, a school, and a play area - restoring stability and dignity to families who lost everything during floods. Additionally, a new home was constructed for a vulnerable family in The Gambia. Ramadan & Eid Al-Adha Support During Ramadan and Eid Al-Adha, we brought relief and joy to thousands of families across The Gambia, Pakistan, and Bangladesh. Eid Al-Adha Animal Sacrifice: We distributed fresh meat by providing livestock, feeding over 3,000 families. Each animal was shared 8mong multiple households. ensuring nutritious meals during this blessed time. Ramadan Food Assistance: Families received essential food support to break their fast and celebrate with dignity,. The G8mbi8.' Over 1,100 food packs distributed providing over 62 tonnes of rice, 11,000 ready meals, and 93,000 loaves of bread. Pakistan.. Over 1,600 food packs, providing over 16 tonnes of rice and 33 tonnes of flour, and 11,000 cooked meals. Bangladesh.. 100 food packs providing over 2 tonnes of rice and 1 tonne of vegetables. These efforts ensured families could observe Ramadan and Eid with nourishment, comfort, and dignity. Financial key performance indicators Donations received were £1.112,147 compared to £1.370.789 in 2024. Idecrease of 190/0], reflecting challenges in maintaining donor levels despite ongoing engagement and campaign efforts. Expenditure on direct charitable activity was £1,165,260 compared to £1,388,214 in 2024, [decrease of 16/1, reflecting a more focused allocation of resources while maintaining programme delivery, Cashflow generation was (£42.977) compared to (£7,157) in 2024, reflecting increased investment in programme activity. The charity remains in a strong position with res8rv8s of cash and cash equivalents of £345,356 to support future commitments.
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 Financial review The financial position of the charity at 28 February 2025 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows.. 2025 2024 Net Income 323,121 376,235 Unrestricted 323,121 376,235 Revenue Funds Available for the General purposes Of the charity Total Funds 323,121 376,235 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 s 'oenersl 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 £80,000. 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 resourc8s and application of resources, including the income and expenditure, for that period.
Sharing Wonders Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnued) Year ended 28 February 2025 In preparing these financial statements, the trustees are required to: select suitable accounting F)olicies and then apply them consistently. observe the methods and principles in the applicable Charities SORP: make judgments and accounting estimates that are reasonable and prudent,, state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 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 Cvi I Iytji ii¥b ALI 2008. Tl Igy c1 ¥ clbV l ebyvl Ibibltr fui bdf¥yudidii iy 11 i¥ abbelb ul 11 1¢ Ll Idi ily ai Irj I I¥1 IL for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is a trustee at the date of approval of this report confirms that.. so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees, annual report and the strategic report were approved and signed on behalf of the board of trustees by.. 6knc4tb Mrs Bader Muneer Ali - Chair Mr Aman Ali Trustee Trustee 26 Nov 2025 26 Nov 2025
Sharing Wonders Company Limited by Guarantee Independent Auditor's Report to the Members of Sharing Wonders Year ended 28 February 2025 Opinion We have audited the financial statements of Sharing Wonders (the 'charity') for the year ended 28 February 2025 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.. give a true and fair view of the state of the charity's affairs as at 28 February 2025 and of its incoming resources and application of resources, including its income and expenditure, for th& year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted AG6uui Illi iy Pi<ibliG¥, have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon 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 slalemenls section of our report. We are independent of the charity in accordance with the ethical requiremenls 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 ststements 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 wh8n 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. 10
Sharing Wonders Company Limited by Guarantee Independent Auditor's Report to the Members of Sharing Wonders (¢ontlnued) Year ended 28 February 2025 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 infomiation 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 oblained in the audit or otherwise appears to be materially misstaled. 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. Opiniona on other matt•r8 pré8cribed by thé Companie8 Aet 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the trustees, report has been prepared in accordance with applicable legal r8quirem8nts. Matters on whlch wa ar• requlred to report by exceptlon 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: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns- or cert8in disclosures of trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. 11
Sharing Wonders Company Limited by Guarantee Independent Auditor's Report to the Members of Sharing Wonders (¢ontlnued) Year ended 28 February 2025 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 th8t 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 inlend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole 8re free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includca our opinion. f<ca30nablc a33urancc ia a hi9h Icvcl of a3aurancc, but 13 not a 9uarantcc 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 extenl lo 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 managemenl lo 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 otheNise 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.. 12
Sharing Wonders Company Limited by Guarantee Independent Auditor's Report to the Members of Sharing Wonders (¢ontlnued) Year ended 28 February 2025 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a matenal misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and. based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's abil ity to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial stat8m8nts, including the disclosures, and whether the financial statements represent the und8rlying transactions and events in a manner that achieves fair presenialion. 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 26 Nov 2025 13
Sharing Wonders Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 28 February 2025 2025 Unrestncted funds Total funds 2024 Unrestricted Total funds Note Income and endowments Donations and legacies Investment income 1,112,147 1.112,147 1,370,789 571 Total Income 1,112,147 1.112,147 1,371,360 Expendlture Expenditure on charitable activities Total expendlture 1,165,261 1,165,260 1,388,214 1,165,261 1,165,260 1,388,214 Net expenditur• and nat movémént in funds (53,114) (53,113) {16.854) Reconciliation of funds Total funds brought forward as previously reported Prior year adjustment Total funds brought fomard as restated Total funds carrled forward 376,235 376,235 243,098 149,991 376,235 376,235 393,089 323,121 323,121 376,235 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 17 to 28 fonn part of these financial statements. 14
Sharing Wonders Company Limited by Guarantee Statement of Financial Position 28 February 2025 2025 2024 Note Current assets Debtors Cash at bank and in hand 14 3,765 345,356 602 388,333 349,122 388,935 Creditors: amounts falling due wlthin one year Net current a88et8 15 26,000 12,700 323,121 376,235 Total assets less current Ilabllltles 323,121 376,235 Net assets 323,121 376,235 Funds of the charlty Unrestricted funds 323,121 376,235 376,235 Total charity funds 16 323,121 These financial statements wer8 approved by the board of trustees and authorised for issue and are signed on behalf of the board by: c4& c4_c4& Mrs B8der Muneer Ali - Chair Mr Aman Ali Trustee Trustee 26 Nov 2025 26 Nov 2025 The notes on pages 17 to 28 fonn part of these financial statements. 15
Sharing Wonders Company Limited by Guarantee Statement of Cash Flows Year ended 28 February 2025 2025 2024 Cash flows from operating activities Net expenditure (53,113) {16,854) Adjustments for.. Other interest receivable and similar income Interest payable and similar charges Accrued expenses (571) 6,806 10,299 7,121 13,300 Changes in.. Trade and other debtors {3,164) (35,856) (602) (922) Cash generated from operations Interest paid Interest received (7,121) (6,806) 571 Net cash iusecl Iniifrom operating activities (42,Yll) (1.151) Net (decrease)Ilncrease In cash and cash equlvalents Cash and cash equivalents at beginning of year Prior year adjustment to cash and cash equivalents at beginning of year (42,977) 388,333 (7,157) 245,499 149,991 Cash and cash equlvalents al end of year 345,356 388,333 The notes on pages 17 to 28 fonn part of these financial statements. 16
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements Year ended 28 February 2025 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 1 RR, England. Statement of compllance 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 IFRS 10211 and the Companies Act 2006. Accountlng pollcle8 Basis of pr•paration 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. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sourcas of ostlmation 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, includino expectations of future events that are believed to be reasonable under the circumstances. Forelgn currencles Amount of exchange differences recognised in net incomelexpenditure during the period, except for those arising on financial instruments measured at fair value through net incomel8xp8nditur&. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term, highly liquid investments. Cash and cash equivalents are held to meet short-term cash commitments rather than for investment or other purposes 17
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Accounting policies {contlnu8d) 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: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the abtsvuiils Wvlieii I'etseiv¥d if Ilie value bali be reliaL)ly i))easui'ed. No aii)ouiils al'e iiiGluded foi. the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. As the charity receives material donations from both individuals and other charitable organisations, additional accounting policies may be included to explain how these income streams are recognised. This may include clarification on.. (i) the recognition of one-off versus recurring donations, (li) how multi-year commitments from donor organisations are accounted for, lili) any conditions attached to grants or institutional donations, and {iv) the point at which entitlement is established for pledged or committed amounts. Including such stream-specific policies helps ensure transparency for users of the financial statements and confirms that all significant types of incoming resources are recognised consistently with the principles of FRS 102 and the Charities SORP. 18
Sharing Wonders Company Limited by Guarantee Notes to the Flnanclal Statements (contlnuedj Year ended 28 February 2025 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.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 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 beiween the activities they contribute to on a reasonable, justifiable and consistent basis. Where the charity incurs material expenditure in specific categories - such as grants paid to individuals or organisations, donations made, or significant proiect-related costs additional accounting policies may be disclosed to explain the basis on which each type of expenditure is recognised. These supplementary policies may address the point at which a grant or donation becomes 8 binding obligation, the Irealment of conditional or multi-year commitments, and the 8llocation of directly attributable support costs. Including such stream-specific expenditure policies ensures transparency and consistency with the requirements of FRS 102 and the Chanties SORP. Financial instruments A financi81 asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument.
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Accounting policies {contlnu8d) Financial instruments (Gontinued) 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. nther financial instruments, including derivativeg, arg initially recogniged at fair valLle, 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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting dale. 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 individLially 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. 20
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 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 {213rds} 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. 5. Critical accounting estimates and judgements In thc application of thc charity's accounting policic8, thc trustccs are required to mako judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 21
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donatlons Donations 1,112,147 1.112,147 1,370,789 1,370,789 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest receivable 571 571 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Activity Support costs 1,085,317 79,943 1,085,317 79,943 1,310,392 77,822 1,310,392 77,822 1,165,260 1,165,260 1,388,214 1,388,214 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Education Self-sustainability Social welfare Governance costs 292.800 127,062 665,455 292,800 127,062 665,455 79,943 335,000 164,000 811,392 77,822 79,943 1,085,317 79,943 1,165,260 1,388,214 22
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 10. Breakdown of support costs 2025 2024 Other motorltravel costs Accountancy fees Audit fees Legal and professional fees Telephone Other office costs Other finance costs Foreign exchange gainlloss Website and IT 16,257 7,300 5.700 925 372 40 7,121 35,268 6,960 8,529 7,000 5,700 610 863 68 6,806 46,934 1,312 lotal IY,Y43 i i.t$22 11. Net expendlture Net expenditure is stated after chargingl{crediting)'. 2025 2024 Foreign exchange differences 35,268 46,934 12. Staff costs The average head count of employees during the year was Nil (2024.. Nil). No employee received employee benefits of more than £60.000 during the year {2024: Nil)- There are no employees of the charity. 23
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 13. Trustee remuneration and expenses The trustees, including Aman are responsible for maintaining the day-to-day management of the charity. This includes overseeing operational activities. ensuring that resources are used effectively, and making sure the charity continues to meet its objectives in line with its governance framework. No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. The trustees collectively dedicated approximately 3,640 hours in 2025 (3,500 hours in 2024) to delivering the charity's objectives, and they have not received any remuneration for their tim8 and commitment One or more trustees have claimed expenses or had their expenses covered by the charity. Tne (otal amount of oui-of-pockei expenses relmtsursed tsy Ihe charlty Is £26.100 (£19.117 In 20241 The nature of the reimbursed expenses is as follows: Category Travel Direct charitable activity Website and IT 2025 £16,256 £4,742 £5,102 2024 £14,861 £3,836 £420 Additionally, £7,620 of the travel costs was covered by volunteers (£7,700 in 2024). 14. Debtors 2025 2024 Trade debtors 3,766 602 15. Credltors: amounts falllng due wlthln one year 2025 2024 Accruals and deferred income 26,000 12,700 24
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 16. Analysis of charitable funds Unrestricted funds At Prior year 28 February Income Expenditure adjustments 2025 At 1 March 2024 General funds 376,235 1,112,147 {1.165,261> 323,121 At 1 March 2023 Prior year At Income Expenditure adjustments 29 February 2024 General funds 243,098 1,371,360 {1,388,214) 149,991 376,235 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than 1 year Net assets 349,121 (26,000) 323,121 349,121 {26,000) 323,121 Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 388,935 (12,700) 376,235 388,935 (12,700) 376,235 25
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 18. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than 1 year Net assets 349,121 (26,000) 323,121 349,121 {26,000) 323,121 Unrestricted Total Funds Funds 2024 Cuiieiil dbbelb Creditors less than 1 year Net assets 388,935 {12,700) 376,235 388,935 (12,700) 376,235 19. Analysls of changes In not debt At At 1 Mar 2024 Cash flows 28 Féb 2025 Cash at bank and in hand 388,333 (42,977) 345,356 20. Related partles There were no related party transactions during the year. (2024 Nil) 26
Sharing Wonders Company Limited by Guarantee Notes to the Flnanclal Statements (contlnuedj Year ended 28 February 2025 21. Disclosure of Grants Payable The total grants payable during the year, analysed by destination, type of recipient, and purpose, are as follows.. lal Total Grants Payable by Country and Recipient Type Country Grants to Institutions (£) Grants to Individuals (£) 2025 Total (£) 2024 Total (£) Bangladesh Gambia 17,419 17.419 7,504 27,640 13,806 577,548 448,776 128 605,188 462,582 128 813,666 465,907 23,315 1,310.392 Pakistan United Kingdom Total 41,446 1,043,871 1,085,317 Note.. No grants to institutions were made in the UK or Bangladesh. (b) Analysis of Institutional Grants by Purpose and Name Below is a list of institutional grants made during the year, analysed by country and purpose.. G8mbi8 - Educational Support Total.. £27,6401£30,280 in 2024) Al Wafa Memorisation School Al Wafa Islamic School Sultana Islamic School Hannah Islamic School Santo Su Islamic School Al-Haaris Islamic School Pakistan - Health and Education Support Total.. £13,8061£55,181 in 2024) •KITCC Hospital (He8lthc8re) - £13,806 {£32,900 in 2024> •Education School Al Huda (Education)- nil {£16,349 in 2024> •Education School Al Birr Education) - nil (£5,932 in 2024 27
Sharing Wonders Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 28 February 2025 22. Funds Held in Third-Party Bank Accounts The charity's funds may be held in bank accounts operated by third parties acting on behalf of the charity. These balances arise where project partners, delivery agents, or appointed representatives manage specific activities on the charity's behalf. All such funds remain the propety of the charity and are recognised as assets within these financial statements in accordance with the Charities SORP. The charity retains control over how these funds are applied, and the third parties are required to account for all transactions and provide regular statements or reconciliations. Any amounts held in third-party bank accounts at the year end are included within cash and cash equivalents, with corresponding disclosures where material. The trustees are satisfied that appropriate arrangements and oversight processes are in place to ensure these funds are safeguarded and used solely for charitable purposes. 28