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2024-03-31-accounts

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Charity registration number: 1176949

Sabeel Foundation

(A Charitable Incorporated Corporation)

Annual Report and Financial Statements

for the Year Ended 31 March 2024

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11
Notes to the Financial Statements 12 to 21

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Reference and Administrative Details

Trustees Tahira Zafar Azeem Ahmed (resigned 9 September 2024) Hafiz Syed Tariq Mahmood Shah Principal Office 8-10 Glastonbury Road Birmingham B14 4DR Charity Registration Number 1176949 Independent Examiner Nasir Rafiq Dua Governance Bradford Court 123-131 Bradford Street Birmingham B12 0NS

Page 1

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.

Objectives and activities

Public benefit

  1. The prevention or relief of poverty anywhere in the world by providing grants, items and services to individuals in need and/or Charities or other organisations working to prevent or relieve poverty.

  2. For the public to benefit to promote the education of people anywhere in the world in such ways as the charity trustees think fit.

  3. The relief of financial need and suffering among victims of natural or other kinds of disasters in the form of money (or other means deemed suitable) for persons, bodies, organisations and/or countries affected. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Trustees' Report

Achievements and Performance:

The review of charitable activities undertaken during the year is as follows: SABEEL Foundation, the charitable company incorporated on the 1st of February 2018. It was the period when SABEEL Foundation established its office, recruited volunteers, and set up delivery office. The activities of the charity flourished in the current year. In the period covered by this report, our supporters and donors helped us improve the quality of life for thousands of people in Africa. Asia, and at home in the UK.

Other achievements included:

• Distributed food, clothing and shelter to the needy and launched mosque construction programmes for the benefit of nearly more than 20,000 people in Pakistan.

Pakistan:

Emergency food & hygiene aid to 2000 beneficiaries who need medical assistance but cannot go for it due to financial hardship.

Food and Social Programmes:

Ramadan 2023:

As well as emergency food aid, we meet the needs of impoverished and struggling communities with the distribution of food packs during the blessed month of Ramadan. Each pack is designed to last a family for the entire month and contains essential items in line with a high standard in Ramadan 2023, we provided food packs for thousands of beneficiaries.

Qurbani 2023:

Qurbani is one of the few times, if not the only time, of year that many beneficiaries can supplement their diet with meat. In 2023, we provided fresh Qurbani meat for approx. 750 beneficiaries.

Economic Empowerment:

The key to overcoming poverty is economic opportunity and SABEEL Foundation is working around the world to provide people with that chance to move towards self-sufficiency. In PAKISTAN, 100 families (approx. 1000 people) were given opportunity for employment as part of Rikshaw’s distribution.

Establishment of Communities:

Page 3

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Trustees' Report

Part of our work includes establishing new communities or strengthening existing ones with the common goals of tackling poverty and adversity and securing a future of stability and prosperity. There was also the launch of a major programme to construct mosques for the benefit of nearly 20,000 beneficiaries. Our future for new community features family homes for more than 500 people, a mosque, a community centre, and a library.

Education Programmes:

One of the keys to helping people improve the quality of their lives is education, regarded as a fundamental human right but denied to many. Around the world, SABEEL Foundation allows communities access to education.

Water & Sanitation:

Our Water campaign allows donors to install hand pumps and solar water wells in Pakistan. In this year, we provided clean and safe drinking water to more than 30,000 beneficiaries (based on an average of 5 members per family) around the world.

Orphans & Childcare:

SABEEL Foundation supports more than 30 orphans as part of its worldwide orphan sponsorship programme. The children's needs for food, shelter, education, health, and welfare are met thanks to the generosity of their sponsors.

The welfare of these children is always at the core of everything we do through our Orphan Sponsorship, ensuring every child we help grows up happy, healthy, and well cared for. When you vow to care for an orphan with us, your support helps to provide a child with all they need to flourish and grow such as healthcare, a quality education, food, clothing, counselling services, and a warm, loving home.

Emergency Projects 2023:

Around the world, there were many natural disasters in 2023 including earthquakes and floods. Also, the main war-stricken area of Gaza which required excessive aid for all the casualties. SABEEL Foundation carried out medical aid work on the ground in Gaza and all the other listed countries where there were disasters providing dignity kits and supplies to hospitals. In addition, food packs and fresh meals were served on a regular basis. The natural occurrences are listed below where Sabeel Foundation carried out their work.

Future Plans:

Page 4

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Trustees' Report

Our projects focus on emergency relief, food, water, healthcare, education, orphan care and seasonal aid, such as winter emergency response and Qurbani donations.

Our guiding vision is of a world where everyone is cared for, and able to live a sustainable life, free from extreme poverty. As an Islamic charity, we are led by an unshakeable faith and a strong desire to help the most vulnerable, following in the footsteps of the Prophet (saw).

Financial review

During the year, the charity raised income of £820k (2023: £720k) and incurred expenditure of £782k (2023: £718k). The carry forward reserves of the charity stood at £320k (2023: £281k).

Structure, governance and management

Nature of governing document

The Charity is constituted as a Charitable Incorporated Organisation (CIO) Foundation, as a body corporate under Part 11 of the Charities Act 2011 on the 01 Feb 2018. The CIO registered with the Charity Commission on the same day.

Recruitment and appointment of trustees

The Trustees are recruited and appointed in accordance with the CIO constitution. The Trustees are appointed for life.

Organisational structure

Trustees are legally responsible for the governance and management of the charity. Trustees are responsible of setting strategies and policies for ensuring these are implemented.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Page 5

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Trustees' Report

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

28 January 2025

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Hafiz Syed Tariq Mahmood Shah Trustee

Page 6

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

28 January 2025

Approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Hafiz Syed Tariq Mahmood Shah Trustee

Page 7

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Independent Examiner's Report to the trustees of Sabeel Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which are set out on pages 9 to 21.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Sabeel Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Sabeel Foundation's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since Sabeel Foundation's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of Sabeel Foundation as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Nasir Rafiq ICAEW

Dua Governance Bradford Court 123-131 Bradford Street Birmingham B12 0NS 28 Jan 2025

Date:.............................

Page 8

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Statement of Financial Activities for the Year Ended 31 March 2024

Note
Income and Endowments from:
Donations and legacies
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
275,983
(90,476)
(75,809)
(166,285)
109,698
(62,106)
47,592
232,809
280,401		 Restricted
funds
£
544,429
(239,378)
(376,797)
(616,175)
(71,746)
62,106
(9,640)
49,088
39,448		 Total
2024
£
820,412
(329,854)
(452,606)
(782,460)
37,952
-
37,952
281,897
319,849

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 19.

Page 9

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Statement of Financial Activities for the Year Ended 31 March 2024

Note
Income and Endowments from:
Donations and legacies
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
241,264
5,017
246,281
(69,833)
(80,279)
(150,112)
96,169
(43,478)
52,691
180,118
232,809		 Restricted
funds
£
474,192
-
474,192
(180,332)
(387,777)
(568,109)
(93,917)
43,478
(50,439)
99,527
49,088		 Total
2023
£
715,456
5,017
720,473
(250,165)
(468,056)
(718,221)
2,252
-
2,252
279,645
281,897

Page 10

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

(Registration number: 1176949) Balance Sheet as at 31 March 2024

Note
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
16
Creditors: Amounts falling due within one year
17
Net current liabilities
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
18
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
19		 2024
£
409,891
16,929
42,174
59,103
(149,145)
(90,042)
319,849
-
319,849
39,448
280,401
319,849		 2023
£
424,040
16,929
26,313
43,242
(176,711)
(133,469)
290,571
(8,674)
281,897
49,088
232,809
281,897

The financial statements on pages 9 to 21 were approved by the trustees, and authorised for issue on ....................28 January 2025 and signed on their behalf by:

......................................... Hafiz Syed Tariq Mahmood Shah Trustee

Page 11

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Sabeel 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 notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Page 12

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Land & Buildings Reducing balance - 50 years
Furniture & Equipment Reducing balance - 15 years
Motor vehicles Straight line - 20%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 13

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed		 Unrestricted
funds
General
£
206,476
69,507
275,983		 Restricted
funds
£
544,429
-
544,429		 Total
2024
£
750,905
69,507
820,412		 Total
2023
£
659,492
55,964
715,456
HMRC JRS Grant Total
2024
£
-		 Total
2023
£
5,017

Page 14

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

4 Expenditure on raising funds

a) Costs of generating donations and legacies

Costs of generating donations and legacies
5
Expenditure on charitable activities
Community
Food
Medical
Water
General		 Activity
undertaken
directly
£
74,534
24,009
23,292
57,334
75,708
254,877		 Direct costs
£
329,854
Grant funding
of activity
£
91,909
29,016
30,989
45,715
100
197,729		 Total
2024
£
329,854
Total
2024
£
166,443
53,025
54,281
103,049
75,808
452,606		 Total
2023
£
250,165
Total
2024
£
Total
2023
£
161,268
51,962
50,428
124,119
80,279
468,056

6 Analysis of governance and support costs

Governance costs

Independent examiner fees
Examination of the financial statements
Legal and professional fees		 Unrestricted
funds
General
£
5,350
2,927
8,277		 Total
2024
£
5,350
2,927
8,277		 Total
2023
£
5,350
5,120
10,470

Page 15

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

7 Grant-making

Analysis of grants

Below are details of material grants made to institutions

Below are details of material grants made to institutions
Name of institution
One Ummah
Bilal Education
Care and Relief Pakistan
Al Mustafa Welfare
Al-Khair Foundation
FAKİR VE MUHTAÇLARA
Black Burn Trust UK
Hazrat Sultan Baho		 2024
£
-
-
165,000
-
23,000
-
9,229
500
197,729		 2023
£
1,355
2,000
189,000
1,390
24,500
8,000
-
-
226,245

Page 16

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

8 Net incoming/outgoing resources

Net incoming resources for the year include:

Depreciation of fixed assets 2024
£
14,835		 2023
£
15,119

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs		 2024
£
100,073
7,048
107,121		 2023
£
95,187
4,985
100,172

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

2024 2023
No No
Number of Staff 9 11

No employee received emoluments of more than £60,000 during the year

11 Independent examiner's remuneration

Examination of the financial statements 2024
£
5,350		 2023
£
5,350

Page 17

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

12 Auditors' remuneration

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

14 Tangible fixed assets

14 Tangible fixed assets
Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
15 Debtors
Other debtors
16 Cash and cash equivalents
Cash at bank
Short-term deposits		 Land and
buildings
£
401,135
-
401,135
23,589
7,552
31,141
369,994
377,546		 Furniture and
equipment
£
42,904
686
43,590
5,881
2,514
8,395
35,195
37,023		 Motor
vehicles
£
23,847
-
23,847
14,376
4,769
19,145
4,702
9,471
2024
£
16,929
2024
£
29,482
12,692
42,174		 Total
£
467,886
686
468,572
43,846
14,835
58,681
409,891
424,040
2023
£
16,929
2024
£
16,929
2024
£
29,482
12,692
42,174
2023
£
13,621
12,692
26,313

Page 18

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

17 Creditors: amounts falling due within one year

Other loans
Hire purchase and finance leases
Other creditors
Accruals		 2024
£
109,514
13,078
17,840
8,713
149,145		 2023
£
158,316
4,404
10,627
3,364
176,711

18 Creditors: amounts falling due after one year

Hire purchase and finance leases

2024
£
-		 2023
£
8,674

19 Funds

Unrestricted funds
General
General
Restricted funds
Community
Food
Medical
Water
Total restricted funds
Total funds		 Balance at 1
April 2023
£
232,809
-
14,554
34,534
-
49,088
281,897		 Incoming
resources
£
275,983
276,916
48,639
105,645
113,229
544,429
820,412		 Resources
expended
£
(166,285)
(288,199)
(74,411)
(100,731)
(152,834)
(616,175)
(782,460)		 Transfers
£
(62,106)
11,283
11,218
-
39,605
62,106
-		 Balance at
31 March
2024
£
280,401
-
-
39,448
-
39,448
319,849

Page 19

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Unrestricted funds
General
General
Restricted funds
Community
Food
Medical
Water
Total restricted funds
Total funds		 Balance at 1
April 2022
£
180,118
43,626
10,868
41,162
3,871
99,527
279,645		 Incoming
resources
£
246,281
168,309
84,530
75,946
145,407
474,192
720,473		 Resources
expended
£
(150,112)
(225,274)
(80,844)
(82,574)
(179,417)
(568,109)
(718,221)		 Transfers
£
(43,478)
13,339
-
-
30,139
43,478
-		 Balance at
31 March
2023
£
232,809
-
14,554
34,534
-
49,088
281,897

Page 20

Docusign Envelope ID: D6708DEB-8212-4E8D-B1A8-563FB33F37FF

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

20 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
21 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Finance leases and hire purchase contracts
Net debt		 Unrestricted
funds
General
£
409,891
19,655
(149,145)
280,401
Unrestricted
funds
General
£
418,194
-
(176,711)
(8,674)
232,809
At 1 April
2023
£
26,313
26,313
At 1 April
2022
£
14,476
(13,078)
1,398		 Restricted
funds
£
-
39,448
-
39,448
Restricted
funds
£
5,846
43,242
-
-
49,088
Financing
cash flows
£
15,861
15,861
Financing
cash flows
£
11,837
13,078
24,915		 Total funds
2024
£
409,891
59,103
(149,145)
319,849
Total funds
2023
£
424,040
43,242
(176,711)
(8,674)
281,897
At 31 March
2024
£
42,174
42,174
At 31 March
2023
£
26,313
-
26,313

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