Charity number: 1174733
SMALLWORLD FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
SMALLWORLD FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charitable Incorporated Organisation, its | 1 |
| Trustees and Advisers | |
| Trustees' Report | 2 - 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 13 |
| The following pages do not form part of the statutory financial statements: | |
| Charity Detailed Income and Expenditure Account and Summaries |
SMALLWORLD FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023
Trustees Mrs Salam Hamzeh Ghaith, Chair Mr Richard Oliver, Treasurer Mr Charles A Von Goins, Trustee Mrs Deborah Burton-Shaw, Secretary Charity registered number 1174733 Principal office 80-83 Long Lane London EC1A 9ET Secretary Mrs Deborah Burton-Shaw Accountants Fletcher and Partners Crown Chambers Bridge Street Salisbury SP1 2 LZ Solicitors Wilsons Solicitors Alexandra House St John's Street Salisbury SP1 2SB
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SMALLWORLD FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023
The Trustees present their annual report together with the financial statements of the Charitable Incorporated Organisation for the 1 February 2022 to 31 January 2023.
Objectives and activities
a. Policies and objectives
The Charity's objects are to:
• advance human rights and promote equality by advocating for the interests and concerns of civil society, in particular economically and socially disadvantaged children, and defending their fundamental human right to health and education;
• promote two of the fundamental pillars of social change – health and education;
• advance human rights by reducing child labour and child exploitation through skill training programmes, and by access to a quality education through supporting initiatives that aid disadvantaged children;
• collaborate with potential partners, donors and institutions in order to gain resources to address the needs and concerns of economically and socially disadvantaged segments of society;
• advance human rights and promote equality by addressing inequality and exclusion of economically and socially disadvantaged children by supporting initiatives that will address the underlying causes of such problems; and
• support innovative research initiatives that improve the lives of humanity and under-served communities globally.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
To provide grant funding for formal education and education facilities, vocational training and rehabilitation programmes.
c. Activities undertaken to achieve objectives
We set out hereunder the principal promotional activities of our Charity during the reporting year :
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Participated in UNWTO’s first Global Youth Tourism Summit in Sorrento-Italy, where the SmallWorld President was invited alongside worldly renowned keynote speakers, to give a Masterclass about peace and sustainable development to dignitaries and more than 100 youth from more than 60 countries around the world, and spoke about creating the future they deserve.
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Participated in Parenthood’s “The Unconference” in Abu Dhabi alongside 60 speakers and writers from around the globe, where the SmallWorld President was invited to speak about “Beyond Education”, how to raise global citizens, and the impact of the concept in changing the world around us.
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Represented SmallWorld Foundation at a meeting with the wives of ambassadors residing in the UAE, where Ms. Salam spoke about the importance of education and the role of the foundation.
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Introduced the SmallWorld Foundation at a meeting hosted by His Highness Sheikh Majid Rashid Al Mualla- Umm Al Quwain Ruler Family UAE and the owner of Majid Rashid Groups, on the occasion of International Women’s Day where Ms. Salam was invited as a role model in philanthropy and gave a speech to introduce SmallWorld Foundation to all the accomplished women and his excellency.
The Board has met in accordance with its statutes, roughly every three months. The meetings were held online due to the fact that the Trustees are based in three different continents.
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SMALLWORLD FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Objectives and activities (continued)
d. Main activities undertaken to further the Charitable Incorporated Organisation's purposes for the public benefit
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Children and Adolescent Resource Centre: SWF worked with CRY UK to support disadvantaged children in India by providing child-friendly teaching techniques and workshops to ensure access to uninterrupted schooling and minimize the risk of dropping out of school.
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Earthquake Response Project: Under “SmallWorld’s Global Humanitarian Plan”, SWF worked with Save the Children UK in supporting 50 families in Syria and Turkey who’ve lost everything in the most recent earthquake with warm blankets, clothes, kitchen supplies and materials to build shelters.
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Path's Program: SWF worked with Barnardo’s UK in Supporting 100 disadvantaged children in the UK from reception to year 6, who have learning difficulties, with social and emotional learning.
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In-kind Donations: SWF collaborated with The Sparkle Foundation, donating just under 400 notepads to The Sparkle Foundation, a registered UK Charity which operates in Malawi and is focused on children and young people with disabilities.
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In-kind Donations: SWF collaborated with Capgemini Singapore PTE Ltd Dubai, completing a project; whereby 5 Laptops were donated to the Basmat Amal Initiative on June 2021.
Achievements and performance
a. Main achievements of the Charitable Incorporated Organisation
We secured the donations required to deliver the five projects listed above, which enabled: 1. 120 disadvantaged children in India who are at risk of dropping out of school, by providing them with child-friendly teaching techniques and workshops to ensure access to uninterrupted schooling and minimize the risk of dropping out of school.
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50 families in Syria and Turkey who’ve lost everything in the most recent earthquake with warm blankets, clothes, kitchen supplies and materials to build shelters.
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100 disadvantaged children in the UK from reception to year 6, who have learning difficulties, with social and emotional learning.
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400 vulnerable children in Malawi with school supplies to continue their education.
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5 Syrian underprivileged families in the UAE with laptops to help their children with their education.
b. Fundraising activities and income generation
We secured donations of the equipment needed to deliver the projects listed above and Trustees have given their time voluntarily to co-ordinate and deliver the projects. Fundraising activity continues to generate further funding for future projects.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charitable Incorporated Organisation has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
A draft reserves policy has been developed and will be introduced once it has been approved by the Trustees.
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SMALLWORLD FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
c. Financial perfomance in year
We received donations of £17,132 (2022: £17,543) and made grants totalling £7,467 (2022: £6,387).
Structure, governance and management
a. Constitution
SmallWorld Foundation is a registered charity, number 1174733, and is constituted under a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Charitable Incorporated Organisation is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Financial risk management
The Trustees have assessed the major risks to which the Charitable Incorporated Organisation is exposed, in particular those related to the operations and finances of the Charitable Incorporated Organisation, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the Charitable Incorporated Organisation guarantee to contribute an amount not exceeding £1 to the assets of the Charitable Incorporated Organisation in the event of winding up.
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SMALLWORLD FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charitable Incorporated Organisation and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Incorporated Organisation will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Incorporated Organisation's transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Incorporated Organisation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Memorandum of Association. They are also responsible for safeguarding the assets of the Charitable Incorporated Organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 17 April 2023 and signed on their behalf by:
Mrs Salam Hamzeh Ghaith Chair of Trustees
Mr Richard Oliver Treasurer
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SMALLWORLD FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023
| Note Income from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 17,132 17,132 145 11,138 11,283 5,849 (1,711) 5,849 4,138 |
Total funds 2023 £ 17,132 17,132 145 11,138 11,283 5,849 (1,711) 5,849 4,138 |
Total funds 2022 £ 17,543 17,543 52 18,546 18,598 (1,055) (656) (1,055) (1,711) |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 13 form part of these financial statements.
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SMALLWORLD FOUNDATION
BALANCE SHEET AS AT 31 JANUARY 2023
| Note Fixed assets Current assets Stocks 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets / liabilites Total assets less current liabilities Net assets / liabilites excluding pension asset Total net assets Charity funds Restricted funds 9 Unrestricted funds 9 Total funds |
- 6,182 6,182 (2,044) |
2023 £ - 4,138 4,138 4,138 4,138 - 4,138 4,138 |
1,236 - 1,236 (2,947) |
2022 £ - (1,711) (1,711) (1,711) (1,711) - (1,711) (1,711) |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees on 17 April 2023 and signed on their behalf by:
Mrs Salam Hamzeh Ghaith Chair of Trustees
Mr Richard Oliver Treasurer
The notes on pages 8 to 13 form part of these financial statements.
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SMALLWORLD FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
1. General information
The Smallworld Foundation is a Charitable Incorporated Organisation registered in England and Wales. Its company number is CE012265 and its charity number is 1174733. It is based in London and its registered office is 80-83 Long Lane, London EC1A 9ET.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
SmallWorld Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The accounts have been prepared under the going concern concept as, despite net liabilities, Trustees will continue to personally meet liabilities in the short-term and are confident that, once their bank account has been opened, this will enable them to scale up fundraising so as to be able to cover all support costs as well as funding the grants awarded. The Covid 19 pandemic has had little direct impact on the finances of the CIO but has operationally delayed delivery of some projects.
2.2 Income
All income is recognised once the Charitable Incorporated Organisation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
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SMALLWORLD FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
2. Accounting policies (continued)
2.3 Expenditure (continued)
Expenditure on raising funds includes all expenditure incurred by the Charitable Incorporated Organisation to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitable Incorporated Organisation's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charitable Incorporated Organisation anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.7 Financial instruments
The Charitable Incorporated Organisation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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SMALLWORLD FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
2. Accounting policies (continued)
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Incorporated Organisation and which have not been designated for other purposes.
3. Income from donations and legacies
| Donations Expenditure on raising funds Costs of raising voluntary income Marketing |
Unrestricted funds 2023 £ 17,132 Unrestricted funds 2023 £ 145 |
Total funds 2023 £ 17,132 Total funds 2023 £ 145 |
Total funds 2022 £ 17,543 |
|---|---|---|---|
| Total funds 2022 £ 52 |
4. Expenditure on raising funds
5. Analysis of grants
| Educational grants Total 2022 |
Grants awarded 2023 £ 7,467 6,387 |
Total funds 2023 £ 7,467 6,387 |
Total funds 2022 £ 6,387 |
|---|---|---|---|
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SMALLWORLD FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 January 2023, no Trustee expenses have been incurred (2022 - £NIL) .
7. Stocks
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Laptops to be refurbished | - | 1,236 |
The decision was taken in year not to refurbish the stock of laptops as it was not practical to upgrade them to a donatable state and they were written off..
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SMALLWORLD FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
8. Creditors: Amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 2,044 | 2,947 |
9. Statement of funds Statement of funds - current year
| Balance at 1 | Balance at | |||
|---|---|---|---|---|
| February | 31 January | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Funds - all funds | (1,711) | 17,132 | (11,283) | 4,138 |
10. Summary of funds Summary of funds - current year
| Balance at 1 | Balance at | |||
|---|---|---|---|---|
| February | 31 January | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | (1,711) | 17,132 | (11,283) | 4,138 |
11. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Current assets 6,182 Creditors due within one year (2,044) Total 4,138 |
Total funds 2023 £ 6,182 (2,044) |
|---|---|
| 4,138 |
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SMALLWORLD FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
11. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 1,236 (2,947) (1,711) |
Total funds 2022 £ 1,236 (2,947) (1,711) |
|---|---|---|
12. Related party transactions
Donations were recognised for expenses met privately by the Trustees.
The Charitable Incorporated Organisation has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charitable Incorporated Organisation at 31 January 2023.
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SMALLWORLD FOUNDATION
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023
| Income Donations Gains on investments Gross income in the reporting period Less: Grants Donation to Cry Uk Donation to Basmat Amal Initiative Donation to Sparkle Foundation Donation to Emirates Autism Centre Donation to Lotus Holistic Sundry overheads Stock write off Travel costs Serviced office cost IT costs Marketing costs Bank charges Foreign exchange cost Professional fees Legal costs Accountancy Total expenditure Net income/(expenditure) before taxation for the reporting period Tax payable |
2023 £ 17,132 5,000 1,036 1,431 - - 1,236 84 594 730 145 7 - - 1,020 |
2023 £ 17,132 - 17,132 7,467 2,796 1,020 11,283 5,849 - |
2022 £ 17,543 - 3,462 - 664 2,261 - 93 613 485 52 - 32 9,016 1,920 |
2022 £ 17,543 - 17,543 6,387 1,275 10,936 18,598 (1,055) - |
|---|---|---|---|---|
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SMALLWORLD FOUNDATION
INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
| 2023 £ Net income/(expenditure) for the reporting period Surplus/(Deficit) for the reporting period Deficit brought forward at 1 February 2022 Surplus/(Deficit) carried forward at 31 January 2023 |
2023 2022 £ £ 5,849 5,849 (1,711) 4,138 |
2022 £ (1,055) (1,055) (656) (1,711) |
|---|---|---|
The notes on pages 8 to 13 form part of these financial statements.
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