2025-10-31-accounts - Sapphire Women Foundation

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Registered Charity Number: 1176679

SAPPHIRE WOMEN FOUNDATION TRUSTEES REPORT & ACCOUNTS

31[st] October 2025

SAPPHIRE WOMEN FOUNDATION

Financial statement Year ended 31 October 2025

Contents	Page
Charity information and professional advisers	3
Trustees’ report	4
Accountants’ report	8
Income statement	10
Statement of financial position	11
Notes to the financial statements	12

SAPPHIRE WOMEN FOUNDATION

Charity information Year ended 31 October 2025

Registered charity name	SAPPHIRE WOMEN FOUNDATION
Charity number	1176679
Registered office	4 Scotland Street
	Manchester
	M40 1LJ
Trustees	Kelechi C. Nnodim (Chair)
	Jacinta Ifeoma Ofoegbu
	Lucy I. Nnaji-Ihedinmah
	Vivian Ijeoma Mogbo_(appointed 18/08/2026)_
	Florence Ojimo_(appointed 18/08/2026)_
Bankers	Lloyds Bank plc
Accountants	BC NWAIWU & CO LTD
	Building 1 Suit 4A Office 6
	Wilsons Park Business Centre
	Manchester
	M40 8WN

Trustees’ Report Year ended 31 October 2025

SAPPHIRE WOMEN FOUNDATION

Introduction

The Trustees of Sapphire Women Foundation present their annual report and financial statements for the year ended 31 October 2025. This report is prepared in compliance with the Charities Act 2011 along with the guidance issued by the Charity Commission for England and Wales.

Objectives and Activities

Sapphire Women Foundation is committed to empowering women by providing support, resources, and educational opportunities that enhance the lives of women in our community. Our charity was established with the aim of addressing gender-related challenges, fostering economic empowerment, and promoting holistic wellbeing among women.

Our Objectives

The objects of the charity for the public benefit include;

a) The relief of the physical and mental sickness of persons in need by reason of relationship breakdown with partner(s), in particular by the provision of counselling and support.
b) To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those who are socially excluded and assisting them to integrate into society.

Our Activities

During the year, we focused on:

Skills Training and Employment Support: Delivering career coaching, job skills training, and employment matching for women seeking stable work opportunities.
• Mental Health and Wellness Programs: Offering mental health workshops, counseling, and wellness activities to help women build resilience.
Financial Education and Digital Skills Training: Expanding our financial literacy and digital skills programs, which have proven essential in helping women gain financial stability and independence.
Community Engagement and Advocacy: Building partnerships to create a strong support network for women and advocating for policy changes that benefit the women we serve.

SAPPHIRE WOMEN FOUNDATION

Trustees’ Report

Year ended 31 October 2025

Achievements and Performance

The Foundation made significant strides towards meeting its objectives this year. Despite the challenges posed by the cost-of-living crisis, we adapted many of our programs to a virtual format to continue offering support.

Structure, Governance, and Management

The charity is governed by a board of trustees, who meet regularly to ensure the effective oversight and direction of the Foundation’s operations. Trustees are appointed based on their commitment to our mission and their relevant skills.

Trustee Information

The current Trustees of the charity are:

Kelechi Catherine Nnodim ( Chair )

Jacinta Ifeoma Ofoegbu

Lucy I. Nnaji-Ihedinmah

Vivian Ijeoma Mogbo (appointed 18/08/2026)

Florence Ojimo (appointed 18/08/2026)

Public Benefit

The board of trustees have given due consideration to Charity Commission’s published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity.

Going concern

The trustees have assessed the ability of the charity to continue operating and discharging its role for the foreseeable future, and have made financial projections, taken into consideration the current economic climate because of Cost-of-Living crisis and its potential impact on the various sources of income and planned expenditure. We have adequate financial resources and are able to manage our business risks.

Statement of responsibilities of the trustees

The Trustees of Sapphire Women Foundation are responsible for ensuring that the charity maintains proper accounting records that disclose with reasonable accuracy

SAPPHIRE WOMEN FOUNDATION

Trustees’ Report

Year ended 31 October 2025

the financial position of the charity at any time and to enable them to ensure that the financial statements comply with the Charities Act 2011 and applicable accounting standards.

Trustee Responsibilities

1) Preparation of Financial Statements
The Trustees are responsible for preparing the annual report and financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (UK GAAP). Although the charity did not meet the threshold for an independent examination or audit for the year ended 31 October 2023, the Trustees acknowledge their duty to present a true and fair view of the charity’s financial performance and position.
2) Public Benefit Compliance

The Trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission on public benefit.

3) Financial Oversight and Risk Management
The Trustees are responsible for safeguarding the assets of the charity and taking reasonable steps to prevent fraud and other financial irregularities. They are committed to ensuring that funds are used solely for the purposes intended and are not exposed to undue risk.
4) Effective Governance

The Trustees ensure that effective governance arrangements are in place and maintained, and that there is a robust framework for managing the charity’s operations and activities.

5) Reserves and Financial Stability
Trustees are responsible for maintaining an appropriate level of reserves, as per the charity’s reserves policy, to support the continuity of activities and the stability of the charity’s financial position.

SAPPHIRE WOMEN FOUNDATION

Trustees’ Report

Year ended 31 October 2025

6) Compliance with Laws and Regulations

Trustees are responsible for ensuring that the charity operates in compliance with all relevant laws and regulations, and that all activities align with its charitable objectives.

Approval

The Trustees’ Statement of Responsibilities has been prepared in accordance with the provisions of the Charities Act 2011.

Approved by the Board of Trustees on 31 August 2026 and signed on their behalf by:

Kelechi Catherine Nnodim

Chair of Trustees

SAPPHIRE WOMEN FOUNDATION

Accountants' Report Year ended 31 October 2025

Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Sapphire Women Foundation for the period ended 31 October 2025

As accountants to Sapphire Women Foundation, we have prepared the accounts for the year ended 31 October 2025 on the basis of the information provided by the Trustees. Our work has been undertaken in accordance with the requirements of the Charities Act 2011 and the guidance issued by the Charity Commission for England and Wales.

Responsibilities of the Trustees

The charity’s Trustees are responsible for:

Ensuring that the charity maintains adequate accounting records and prepares financial statements that give a true and fair view of the charity’s financial activities and position for the period.
Ensuring that the financial statements comply with the Charities Act 2011 and relevant regulations.

The Trustees are also responsible for safeguarding the assets of the charity and taking reasonable steps to prevent and detect fraud and other irregularities.

Accountants’ Responsibility

Our responsibility is to prepare the accounts based on the records provided by the Trustees. This involves:

Compiling the financial statements in accordance with the Charity Commission’s guidance.
Ensuring that the accounts comply with the relevant financial reporting framework applicable to charities.

This report does not constitute an audit or independent examination, as the charity did not meet the thresholds requiring such levels of assurance for the period ended 31 October 2025.

Basis of Report

We have compiled the accounts based on information and explanations provided by the Trustees. We have not verified the accuracy or completeness of the information

SAPPHIRE WOMEN FOUNDATION Accountants' Report Year ended 31 October 2025

provided and express no opinion on the accounts. Therefore, our report is solely based on the Trustees’ representations and their underlying records.

Approval

This report is provided solely for the Trustees of Sapphire Women Foundation in compliance with the Charity Commission's requirements.

BC NWAIWU & CO LTD Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN

Date: August 31, 2026

SAPPHIRE WOMEN FOUNDATION

Income Statement Year ended 31[st] October 2025

Note Income from: Donations and legacies 2 Charitable activities 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) for the year 5 Transfer between funds Net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted £ 5 - 5 - - 5 - 5 5 10	Restricted £ 850 - 850 850 850 - - - - -	2025 £ 855 - 855 850 850 (5) - (5) 5 10	2024 £ 485 -
				485
				830
				830
				(345) -
				(345) 350
				5

The notes on pages 12 to 16 form part of these financial statements

SAPPHIRE WOMEN FOUNDATION

Balance Sheet As at 31[st] October 2025

Note Fixed assets Tangible assets 6 Total fixed assets Current assets Cash at bank and in hand 7 Debtors 8 Total current assets Liabilities Creditors -Amount falling due within one year 9 Net current assets Total assets less current liabilities Creditors -Amount falling due after more than one year 10 Net assets The funds of the charity: Unrestricted funds 11 Restricted funds 11 Total charity funds	£ 10 - 10 -	2025 £ - - 10 10 - 10 10 - 10	£ 5 - 5 -	2024 £ -
				- 5
				5 -
				5
				5 -
				5

The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit/independent examination under section 144(2) of the Charities Act 2011 (the 2011 Act). The trustees of the charity have not required the charity to obtain an independent examination in accordance with section 144(2) of the Act.

The trustees acknowledge their responsibilities for complying with the requirements of the Charity Act 2011 with respect to accounting records and the preparation of accounts.

Kelechi Catherine Nnodim

Chair of Trustees

Approved by the board on 31[st] August 2026

The notes on pages 12 to 16 form part of these financial statements

SAPPHIRE WOMEN FOUNDATION Notes to the financial statements Year ended 31[st] October 2025

1. Accounting Policies

The principal accounting policies adopted in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charities Act 2011 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). As a public benefit entity, the charity follows the Charities Statement of Recommended Practice (SORP) FRS 102, under the historical cost convention.

1.2 Income Recognition

Income is recognized when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be reliably measured.

Donations and Grants: Donations and grants are recognized as income when
the charity has unconditional entitlement to the funds.
Gift Aid: Gift Aid on donations is recognized on an accruals basis where there is a valid Gift Aid declaration from the donor.
Investment Income: Investment income is recognized when received.

1.3 Expenditure Recognition

Expenditure is recognized once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount can be reliably measured.

Charitable Activities: Expenditure on charitable activities includes costs
associated with the primary objectives of the charity.
Support Costs: These are costs incurred that support the activities of the charity, and they include administrative expenses. Support costs are allocated to activities based on an appropriate method.
Governance Costs: These are costs related to the general running of the charity, such as audit, legal advice, and trustee meetings.

SAPPHIRE WOMEN FOUNDATION Notes to the financial statements Year ended 31[st] October 2025

1.4 Fixed Assets and Depreciation

Fixed assets are stated at cost less accumulated depreciation. Assets costing over £500 are capitalized. Depreciation is calculated to write off the cost of fixed assets over their useful economic lives on a straight-line basis, as follows:

Office Equipment: 3 years
Furniture and Fixtures: 5 years

1.5 Fund Accounting

The charity maintains the following funds:

Unrestricted Funds: These are funds that can be used at the discretion of the Trustees to further the charity's objectives.
Restricted Funds: These funds are subject to specific conditions imposed by donors or funders. They can only be used for particular purposes as directed.

1.6 Debtors and Creditors

Debtors: Debtors are measured at transaction price, less any impairment.
Creditors: Creditors are recognized where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds and can be measured or estimated reliably. Creditors are recognized at their settlement amount.

1.7 Cash and Cash Equivalents

Cash and cash equivalents include cash at bank and in hand and short-term deposits with a maturity of three months or less from the date of acquisition.

1.8 Going Concern

The Trustees have assessed the charity’s ability to continue as a going concern. They have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Therefore, the charity continues to adopt the going concern basis in preparing the financial statements.

SAPPHIRE WOMEN FOUNDATION

Notes to the financial statements Year ended 31[st] October 2025

2 Donations and legacies Unrestricted £ Donations 5 Other income - Total 5 3 Charitable activities Unrestricted £ Grants - - - Charitable trading Charity sales - Support services - - Total income from charitable activities - 4 Expenditure on charitable activities Staff cost Project costs Depreciation Professional fees Governance costs Support costs Restricted expenditure Unrestricted expenditure 5 Net income/(expenditure) for the year This is stated after charging/(crediting): Depreciation	Restricted 2025 £ £ - 5 850 850 850 855 Restricted 2025 £ £ - - - - - - - - - - - - 2025 £ - - - - 500 350 850 850 - 850 2025 £ -	2025 £ 5 850		2024 £ 5 480 485 2024 £ - - - - - - 2024 £ - - - - 300 530
		855
		2025 £ -
		-
		- -
		-
		-

				830
				830 -
				830
				2024 £ -

SAPPHIRE WOMEN FOUNDATION

Notes to the financial statements Year ended 31[st] October 2025

Fixtures and fittings Computer equipment £ £ - - - - - - - - - - - - - - - - 2025 £ 10 - 10 2025 £ - - - -	Computer equipment £ - -	Total £ - -
-	-	-
- -	- -	- -
-	-	-
-	-	-
-	-	-
		2024 £ 5 -
		5
		2024 £ - - -
		-

SAPPHIRE WOMEN FOUNDATION Notes to the financial statements Year ended 31[st] October 2025

9 Creditors- Amount falling due Accountancy fee Others 10 Creditors- Amount falling due one year Trade creditors Other creditors 11 Fund movements Restricted funds Restricted project fund Unrestricted funds General fund The funds of the charity	within one year after more than Balance at 1 November 2024 £ - - 5 5 5	2025 £ - - - 2025 £ - - - Income Expenditure £ £ 850 (850) 850 (850) 5 - 5 - 855 (850)		2024 £ - - - 2024 £ - - - As at 31 October 2025 £ -



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