SEEDS OF GROWTH (Charity Number 11808291 SEEDS OF GROWTH Charitable Incorporated Organisation Registered Charity Number: 1180829 Trustees Annual Report and Financial Statements For the year ended 31st December 2023
SEEDS OF GROWTH (Charity Number 11808291 CONTENTS OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 CONTENTS Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts 8-11 IIPoge
SEEDS OF GROWTH (Charity Number 1180829)
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023
The committee of Seeds of Growth presents its annual report and financial statements for the year ended 31[st] December 2023.
ORGANISATIONAL INFORMATION
| Name of Charity: | Seeds Of Growth |
|---|---|
| Legal status: | Charitable Incorporated Organisation – foundation model |
| Principal Address: | 4 Salisbury Road, St. Leonard’s-on-Sea, East Sussex, TN37 6RX |
| Registered Charity Number: | 11870829 |
| Governing Document: | Constitution adopted 26/11/2018 |
| Trustees: | Mohamad Akmol Ali – chair and co-founder |
| Catherine Scott – secretary and co-founder | |
| Margaret Trowell (resigned Sept 2022) | |
| Cath Perry | |
| Wendy Rowe | |
| Bankers: | Santander, Queens Road, Hastings |
| Independent Examiners: | Lorraine Brown |
| Blue Ridge Accounting Services Ltd | |
| The Old Court House | |
| North Trade Road | |
| Battle | |
| East Sussex TN33 0EX |
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TRUSTEES ANNUAL REPORT
SEEDS OF GROWTH (Charity Number 11808291 TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 The trustees submit their annual report and financial statements for Seeds of Growth for the period ended 31 December 2023. STRucfuRE, GOVERNANCE AND MANAGEMENT The charity has a committee of Trustees governed by a constitution adopted 19, November 2018 and registered with the Charity Commission on 26, November 2018. The trustees are elected and co-opted under the terms of the constitution. Trustees are elected on a three-year rotational basis, with one thlrd of the trustees stepping down each year. Trustees who stand down are eligible for re-election. OBJECTIVES AND AcnviTIES Objerts: The objects of the Charity are: al The relief of poverty, sickness and distress by helping the people of Birahimpur gain access to safe water and sanitation, bl The provision of basic supplies such as books and other personal or educational supplies to help families, and cl To bring the quality of life of the beneficiaries to a reasonable standard. Publlc beneflt In writing their trustees report. the trustees of Seeds of Growth have given due regard to the guidance of the charity Commission on public benefit. Summary of the maln actlvltles and achlevements undertaken for the publlc benefit: Project 2024, our sixth, started in Birahimpur with a budget of nearly £5,000. First we checked in with our regular tradesmen.. two roofers. one sanitation man, a builder and a pumpman, all of whom were pleased to have Seeds Of Growth steady work to look forward to for the next few weeks. Our first job was on a house in which the bamboo supports had rotted, a problem that had already had our attention in the past. We learned that fresh bamboo rots faster than seasoned when plated in the damp ground and since there is always a shortage of seasoned bamboo, we were obliged to seek quotes for alternatives, ultimately opting for concrete. As all nineteen concrete posts were handmade on site, this was a very slow process, but with a very satisfactory outcome. Next, we installed a pump in an area of the village that is extremely underdeveloped, where a few families are trying to establish themselves and are not getting much support. As always, there were multiple requests for sanitation and this year we prioritized provision of tanks for existing toilets where the waste runs down a yard or in a so-called open drain. We then installed a communal toilet for an extended family. Having done some work for most of the people on our original sutvey, it seemed appropriate to declare work in Birahimpur complete and to turn our attention to the many requests received from other villages. 31Poge
SEEDS OF GROWTH (Charity Number 11808291 TRUSTEES ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023 The villages are far flung, increasing time required and travel costs. Starting in the village of Silam, the second half of Project 2024 came to life quite naturally with several requests for pumps. In all we provided seven pumps that will supply approximately two hundred people with clean water. As always getting about is thanks to Ramjan, not only for his translating and knowledge of the area, but also his time volunteering to each Project, this year guiding Me through the maze of villages. He has become my right-hand man in Bangladesh. Project 2024 created about 130 workdays for approximately 17 men. We provided a sewing machine for a young woman who had completed unpaid training with a company, and she was already getting some work before the end of the project. We also made several small donations to those in dire need. Financial review Thankfully, Seeds Of Growth have some loyal Contributors and with our regular collection boxes and donations from others we have been able to continue supporting the village where necessary by sending donations. Total incoming resources in the year were £4,63712022 £3,392) and resources expended £5,19412022- £5,869) resulting in a net deficit of1£5571 for the year12022: £2,477 deficitl. The net fund reserve at 31, December 2023 to carry over totalled £1,66412022.. £2,221) Reserves policy The project remains dependent on re13tively short-term funding for its operations. In line with guidance by the Charity Commission the trustees endeavour to build up its reserves to enable the charity to fulfil its objectives and financial plans. Responsibilities of the Trustees The Trustees are responsible for preparing financial statements in accordance with applicable law and United Kingdom generally Accepted Accounting Practice. Under Charity law the trustees are required to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing those financial statements the Trustees are required to.. a) Select suitable accounting policies and apply them consistently. b} Make judgements and estimates that are reasonable and prudent. c} State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements. d) Prepare the financial statement on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. 41Puge
SEEDS OF GR0H (Charity Number 11808291 TRUSTEES ANNUAL REPORT (Contlnuedl FOR THE YEAR ENDED 31ST DECEMBER 2023 The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enables the Trustees to ascertain the financial position of the charity and to ensure that the financial statement comply with the Charities Act 2011, the Charity IAccountS and Reports) regulations 2008 and the provisions of the constitution. The TrLEStee5 are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities This report was approved by the Trustees on.. and signed on its behalf by.. Mohamad Akmo Ali- cha nd co-founder Catherine Scoty s ary and co-founder 51Page
SEEDS OF GR0H (Charity Number 11808291 INDEPENDENT EXAMINER'S REPORTTO THETRUSTEES OF SEEDS OF GROWTH FOR THE YEAR ENDED 31ST DECEMBER 2023 I report on the accounts of Seeds of Growth for the period ended 31 December 2023 which are set out on pages I to 11. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charitie5 Act 2011 Ithe Charities Act) and that an independent examination is needed. It is my responsibility to.. examine the attounts under section 145 of the Charities Art 2011, to follow the procedures laid down in the general Direction5 given by the Charity Commission (under section 14515llbl of the Charities Act 2011, and to state whether particular matters have come to my attention. Basis of independent examinerfs report My examination w35 carried out in accordance with General Dirertions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Charities Act 2011- and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met,. or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 3111012024 Signed.. L. Brown Blue Ridge Accounting Services Ltd The Old Court House North Trade Road Battle East Sussex TN33 OEX Dated.. 61Page
SEEDS OF GROWTH (Charity Number 11808291 STATEMENT OF FINANCIAL ACTIVITIES ST FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted funds Unrestricted 2023 funds 2023 Total Funds 2023 Total Funds 2022 Note INCOMING RESOURCES Incoming resources from generated funds: Donations, legacies and grants.. Grants and donation5 Fundraising 2,882 1,754 4,636 2,882 1,754 4,636 2,744 648 3,392 Other incoming resources Total Incoming resources 4,636 4,636 3,392 RESOURCES EXPENDED Charitable activities.. Support costs for grants and activities Governance costs Total resources expended 4,944 250 5,194 4,944 250 5,194 5,469 4(M) 5,869 NET INCOMEIIEXPENDITUREI FOR THE YEAR {5581 15581 12,4771 RECONCILIATION OF FUNDS Net movement in funds {5581 15581 12,4771 Total funds brought forward 2.221 2.221 4,698 TOTAL FUNDS CARRIED FORWARD 1.663 1.663 2,221 71Page
SEEDS OF GR0H (Charity Number 11808291 BALANCE SHEET AS AT 31" DECEMBER 2023 Total Funds 2023 Total Funds 2022 Note Fixed Assets Tangible assets Current Assets Debtors Bank current account C25h in hand 1,423 240 2,131 89 1.663 2.221 Creditors Amounts falling due within one year Net Current Assets Net Assets 1,663 2,221 Represented bv- Restricted funds Unrestricted funds 1.663 2,221 Total Funds 1,663 2,221 These financial statements were approved by the Trustees on.. and were signed on its behalf by.. Mohamad Akmol Ali- chair and co-founder Catherine Scot secreta and co-founder 81Page
SEEDS OF GROWTH (Charity Number 11808291 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 1. Accounting Policies Basis of accounting The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value, unless otherwise stated in the relevant notes, in accordance with the Charities Act 2011- Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice, and UK Financial Reporting Standard applicable to charities effective l January 2019 and the Companies Act 2006. Income Income is recognised in the Statement of Financial Activities once the charity becomes entitled to the funds, it is probable that the income will be received and the amount can be measured reliably. No amounts are included in the financial statements for services donated by volunteers. Expenditure and liabilities Expenditure 15 recognised on an accruals basis and has been included under expense categories that aggregate all costs for allocation of activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. The charity is not registered for VAT,. thus, all c05ts are shown inclusive of VAT charged. Liabilities are recognised as soon as there is a legal or constructive obligation to pay OLJt resources. Governance costs include the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice on governance or constitutional matters. Grants offered subject to conditions which have not been met at the year-end date are noted a5 a commitment but not accrued as expenditure. Tangible assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, based on standard rates used in the sector. Fixtures, fittings and equipment Computer equipment 3 ye3rs 3 years Taxation The charity is exempt from corporation tax on its charitable activities. 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 charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. 91Page
SEEDS OF GROWTH (Charity Number 11808291 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Debtors Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Cash at bank and in hand Cash at bank and in hand includes small amounts of cash, and bank deposits repayable on demand in both current and deposit accounts. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount, usually the invoice amount. Accrued amounts are normally valued at their settlement amount. 2. Trustees. remuneration and benefits Trustees received no remuneration or benefits in this period. Trustees, expenses During the year there were no expenses reimbursed to the Tru5tee5 for costs incurred on behalf of the charity. Previous period comparison The financial year end of the charity is 31, December 2023. The previous period's figures have been included for comparison. 4. Glossaryof terms Restricted fund: These are funds given to the charity, subject to specific restrittions set by the donor, but still within the general objects of the charity. IOIPage
SEEDS OF GROWTH (Charity Number 11808291 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 CHARITABLE ACTIVITIES COSTS: 5. Support Costs for grants and activities Unrestricted Restricted Total Funds 2023 Total funds 2022 Funds Funds Note Fundraising costs Admin costs Insurance Printing, Postage, Stationery Bank charges Biranhim ur costs Travel and accommodation 207 85 138 347 207 85 138 347 12 166 116 165 42 75 75 173 173 314 Materials and labour for repairs, education, and self- help Donations 3.018 701 3.018 701 4,000 460 195 Website /IT support 201 201 Total Costs 4,944 4,944 5,869 6. Governance costs 2023 2022 Accountancyfees Independent Examination 250 400 250 400 7. staff costs and numbers 2023 2022 The average monthly number of employees during the year was 11 IPage