## **MY SXB FOUNDATION**
**(Charitable Incorporated Organisation)**
**ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 March 2023**
**Charitable Incorporated Organisation Number: CE022552 Charity registration number: 1190434**
11 The Concourse, London, NW9 5XB
**MY SXB FOUNDATION**
**REPORT OF THE BOARD**
## **FOR THE YEAR ENDED 31 March 2023**
**Trustees** Adnan Hassan Ali (Chairman) Ayan Osman Asha Sharif **Charitable Incorporated Organisation Number:** CE022552 **Charity registration number:** 1190434 **Registered Office** 11 The Concourse London, NW9 5XB **Independent accountant** HRHS Accountancy, 41 Revere Way, Epsom, KT19 9RQ
**REPORT OF THE TRUSTEES:**
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**MY SXB FOUNDATION**
## **REPORT OF THE BOARD**
## **FOR THE YEAR ENDED 31 March 2023**
The trustees present their report with the financial statements of the charity for the year ended 31[st] March 2023. The trustees have adopted the provisions of 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 2019).
Overseas aid charities are currently operating in a very difficult international environment. The trustees have adopted a "safe & cautious strategy" in all areas of our work to protect reputation and future work of the charity. We are extremely careful in selecting projects, partners, committee members, volunteers and staff and ensure that; a) rigorous controls and systems are in place; b) all funds only move through official channels; and c) we are able to trace aid up to final beneficiary level.
## **Vision and Mission Statement**
The organisation will advance education, tackle poverty and building bridges between communities by providing food and medical supplies to the needy and supporting organisations that aim to do the same.
## **Objectives**
The prevention or relief of poverty or financial hardship anywhere in the world by (particularly, in Africa) providing or assisting in the provision of education, training, healthcare projects and all necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
## **Our values**
**Equality:** We believe the lives of all human beings are of equal value. **Respect:** We affirm the dignity, potential and contribution of participants, donors, partners, staff and volunteers. **Integrity:** We act consistently with our mission, being honest and transparent in what we do and say. **Partnerships:** We work together effectively to serve the larger community.
**Quality:** We constantly challenge ourselves to the highest levels of learning and performance to achieve greater impact.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
My SXB Foundation is a registered charitable foundation (CIO) under the Laws of England & Wales regulated by the Charity Commission. All members of the board are appointed and are committed to serving the Foundation by fulfilling their roles as Trustees in keeping with its constitution.
## **Currently serving trustees are:**
Adana Hassan Ali (Chairman) Ayan Osman Asha Sharif
## **Induction of Trustees**
All of our trustees are volunteers. They are chosen because they have the diverse range of skills, knowledge and experience that My SXB Foundation needs to respond to key challenges. Stakeholders and partners may nominate trustees, and sometimes we will make a personal approach to potential candidates.
To ensure that the charity benefits from a professional and dynamic board, trustees are provided with a comprehensive induction and on-going training in new or emerging areas of responsibility.
New trustees receive a full overview of the strategic and operational functions, which includes a copy of Foundation’s Constitution, Board Meeting Minutes and Charity Commission guidance “The Essential Trustee.”
Trustees play a significant role in the running of the charity and are always expected to keep up to date in the charity world this also includes keeping abreast of “Charity Commission News” and other updates as and when they appear on the commission’s website. They are also encouraged to help identify any gaps in their training needs.
## **Achievement and performance**
3 | P a g e
**MY SXB FOUNDATION**
**REPORT OF THE BOARD**
## **FOR THE YEAR ENDED 31 March 2023**
**Review of financial performance** Our overall objectives in relation to fundraising was to maximise the amount of voluntary income raised and to ensure that we did so at a reasonable cost: income ratio.
**Review of development activities** in future, the charity plans to focus on organisational development aimed at increasing investment in our long term development projects focused on a few countries and further improve our capacity to provide education and help in the most needy countries.
**Public Benefit** The management confirms that they have referred to the guidance on public benefit contained in the documents produced by the charity commission, when reviewing the aims and objectives of the charity and planning future activities.
## **Key management personal**
Most administrative tasks were carried out by the Trustees.
The Board of Trustees meet at regular intervals to carry out reviews and take decisions and has the overall responsibility for all of MY SXB Foundation’ activities. In keeping with good practice, the Board receives regular performance reports, annual financial reports, plans and budgets. It also approves relevant new policies and procedures.
## **LEGAL & ADMINISTRATIVE INFORMATION**
**Charity Name** MY SXB Foundation **Charity Number** CIO Registration No: 1190434 **Registered address** 11 The Concourse, London, NW9 5XB
**Accountant’s name and address** HRHS Accountancy 41 Revere Way Epsom, KT19 9RQ
**Banker’s name and address**
CashPlus Bank
## **Risk management**
The major risks, to which the charity is exposed, are identified, and reviewed by the trustees as part of the annual risk review process. Appropriate systems and procedures are in place to manage these risks and provide reasonable but not absolute
4 | P a g e
**MY SXB FOUNDATION**
**REPORT OF THE BOARD**
## **FOR THE YEAR ENDED 31 March 2023**
assurance against occurrence. The main risks identified, together with the methods adopted to manage them are summarised below and have not significantly altered since last year's report:
## **Governance risk**
The organisation needs to ensure that appropriate corporate governance structures and practices are in place, to reduce the risk of organisation failure and support the long-term survival and success of Aid Activities. The board regularly reviews the policies and structure to ensure that they meet accepted good governance standards.
## **Effectiveness of expenditure**
The Charity needs to be able to demonstrate that it can use resources effectively to achieve lasting results. Systems have been put in place to monitor work quality.
## **Fraud or error**
Significant errors or fraud could severely damage the charity's reputation as well as resulting loss of resources. The charity has developed financial controls and reporting systems to mitigate this risk.
## **IT security and continuity**
In common with many organisations, we are dependent on information which is stored electronically, the loss or damage of these systems would severely disrupt operations. We have developed detailed IT policies and procedures designed to counter this risk. The board is however satisfied that systems are in place to monitor, manage, and mitigate exposure to major risks and all information is fully backed up and secured.
## **Plans for future period (2024-25):**
The charity has faced significant struggles in the recruiting of fundraising volunteers and online fundraising has significantly decreased due to increased competition and the cost of living. There is a doubt about the charity’s ability to continue as a going concern if fundraising efforts for the upcoming year fail to materialise.
**Financial Review**
5 | P a g e
**MY SXB FOUNDATION**
**REPORT OF THE BOARD**
## **FOR THE YEAR ENDED 31 March 2023**
**Reserves policy** the trustees recognise the need to have reserves in place to ensure the continuation of our work in the event of an unforeseen downturn. Trustees are also conscious of the need to balance the necessity for reserves with our efforts for providing value for money and maximising the resources available for our programmes. To this end, we try to achieve reserve for at least twelve months of total annual budget.
There is still more to be done to get more funds to cover the future projects, however it was a good start during the competitive environment and economic situation.
This financial year income was £4,417, 46% less than previous year £8,180 due to the impact of COVID-19 and the increase of living costs, however, the charity increased the spending on its projects using the previous year carried forward funds, it is 41% more than previous year £6,254compared to previous year £4,433.
The remaining funds are twice the annual supporting costs, more than required to achieve the reserve policy.
## **Statement of Trustees Responsibilities**
Law applicable to charities in England and Wales requires Trustees to prepare financial statements for each financial year, which give a true and fair view of the Trust’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements that give a true and fair view, the Trustees should follow best practice and
- Select suitable accounting policies and apply them consistently
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent
- state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will be able to continue in operation.
The Trustees are responsible for safeguarding the assets of the Charity, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities. They are also responsible for keeping accounting records which disclose, with reasonable accuracy, the financial position of the Charity at any time, and which enable them to ascertain the financial position of the Charity and ensure that the financial statements comply with the Charities Act 2011.
Signed on behalf of the Board of Trustees on 31[st] July 2023.
Adnan Hassan **Chairman**
6 | P a g e
**MY SXB FOUNDATION**
**REPORT OF THE BOARD**
## 3 **FOR THE YEAR ENDED 31 March 2022**
|**Statement of financial activities (including summary income and expenditure account)**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Last**
**year**
**to the nearest**
**£**
**to the nearest**
**£**
**to the nearest £**
**to the nearest £**
**to the**
**nearest £**
**Income and**
**endowments from:**
Donations and legacies
4,417
-
-
**4,417**
8180
Charitable activities
-
-
-
**-**
-
Other trading activities
-
-
-
**-**
-
Investments
-
-
-
**-**
-
Separate material item of
income
-
-
-
**-**
-
Other
-
-
-
**-**
-
**_Total Income_**
**4,417**
**-**
**-**
**4,417**
**8,180**|**Statement of financial activities (including summary income and expenditure account)**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Last**
**year**
**to the nearest**
**£**
**to the nearest**
**£**
**to the nearest £**
**to the nearest £**
**to the**
**nearest £**
**Income and**
**endowments from:**
Donations and legacies
4,417
-
-
**4,417**
8180
Charitable activities
-
-
-
**-**
-
Other trading activities
-
-
-
**-**
-
Investments
-
-
-
**-**
-
Separate material item of
income
-
-
-
**-**
-
Other
-
-
-
**-**
-
**_Total Income_**
**4,417**
**-**
**-**
**4,417**
**8,180**|**Statement of financial activities (including summary income and expenditure account)**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Last**
**year**
**to the nearest**
**£**
**to the nearest**
**£**
**to the nearest £**
**to the nearest £**
**to the**
**nearest £**
**Income and**
**endowments from:**
Donations and legacies
4,417
-
-
**4,417**
8180
Charitable activities
-
-
-
**-**
-
Other trading activities
-
-
-
**-**
-
Investments
-
-
-
**-**
-
Separate material item of
income
-
-
-
**-**
-
Other
-
-
-
**-**
-
**_Total Income_**
**4,417**
**-**
**-**
**4,417**
**8,180**|**Statement of financial activities (including summary income and expenditure account)**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Last**
**year**
**to the nearest**
**£**
**to the nearest**
**£**
**to the nearest £**
**to the nearest £**
**to the**
**nearest £**
**Income and**
**endowments from:**
Donations and legacies
4,417
-
-
**4,417**
8180
Charitable activities
-
-
-
**-**
-
Other trading activities
-
-
-
**-**
-
Investments
-
-
-
**-**
-
Separate material item of
income
-
-
-
**-**
-
Other
-
-
-
**-**
-
**_Total Income_**
**4,417**
**-**
**-**
**4,417**
**8,180**|**Statement of financial activities (including summary income and expenditure account)**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Last**
**year**
**to the nearest**
**£**
**to the nearest**
**£**
**to the nearest £**
**to the nearest £**
**to the**
**nearest £**
**Income and**
**endowments from:**
Donations and legacies
4,417
-
-
**4,417**
8180
Charitable activities
-
-
-
**-**
-
Other trading activities
-
-
-
**-**
-
Investments
-
-
-
**-**
-
Separate material item of
income
-
-
-
**-**
-
Other
-
-
-
**-**
-
**_Total Income_**
**4,417**
**-**
**-**
**4,417**
**8,180**|**Statement of financial activities (including summary income and expenditure account)**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Last**
**year**
**to the nearest**
**£**
**to the nearest**
**£**
**to the nearest £**
**to the nearest £**
**to the**
**nearest £**
**Income and**
**endowments from:**
Donations and legacies
4,417
-
-
**4,417**
8180
Charitable activities
-
-
-
**-**
-
Other trading activities
-
-
-
**-**
-
Investments
-
-
-
**-**
-
Separate material item of
income
-
-
-
**-**
-
Other
-
-
-
**-**
-
**_Total Income_**
**4,417**
**-**
**-**
**4,417**
**8,180**|
|---|---|---|---|---|---|
|**Income and**
**endowments from:**||||||
|Donations and legacies|4,417|-|-|**4,417**|8180|
|Charitable activities|-|-|-|**-**|
-|
|Other trading activities|-|-|-|**-**|
-|
|Investments|-|-|-|**-**|
-|
|Separate material item of
income|-|-|-|**-**|
-|
|Other|-|-|-|**-**|
-|
|**_Total Income_**|**4,417**|**-**|**-**|**4,417**|**8,180**|
## **Expenditure on:**
|Raising funds|310|-|
-|
**310**|1,0
21|
|---|---|---|---|---|---|
|Charitable activities|5,944|-|
-|
**5,944**|3,4
12|
|Separate material
expenseitem|-|-|
-|
**-**|
-|
|Other|-|-|
-|
**-**|
-|
|**_Total Expenditures_**|**6,**
**254**|**-**|
**-**|
**6,254 **|**4,4**
**33**|
|**_Net Movement of Funds_**
**Reconciliation of Funds**
**Total funds brought**
**forward**
**_Total funds carried_**
**_forward_**||||||
||3747|-|
-|
3747|-|
||**1,910**|**-**|
**-**|
**1,910**|**3,747**|
7 | P a g e
**MY SXB FOUNDATION**
## **Balance Sheet**
## **FOR THE YEAR ENDED 31 March 2023**
## **Section B Balance sheet**
|**Fixed assets**
**Tangible asse**
**Investments**
**_Total fixed assets_**
**Current assets**
**Debtors**
**Cash at bank and in hand**
**_Total current assets_**
**Creditors: amounts falling due within one**
**year**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after one**
**year**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Endowment funds**
**Restricted income funds**
**Unrestricted funds**
**_Total funds_**|**Unrestricted**
**funds**
**£**|**Restricted**
**income**
**funds**
**£**|**Endowment**
**funds**
**Total**
**this**
**year**
**£**
**£**|**Endowment**
**funds**
**Total**
**this**
**year**
**£**
**£**|**Total**
**last year**
**£**
-
-
**-**
-
3,74
7
**3,74**
**7**
-
**3,747**
**3,74**
**7**
-
**3,74**
**7**
-
-
3,74
7
**3,74**
**7**|
|---|---|---|---|---|---|
||-|
-|
-|
**-**|-|
||-|
-|
-|
**-**|-|
||**-**|
**-**|
**-**|
**-**|**-**|
|||||||
||-|-|
-|
**-**|-|
||1,911|-|
-|**1,9**
**11**|3,74
7|
||**1,911**|**-**|
**-**|**1,9**
**11**|**3,74**
**7**|
||-|
-|
-|
-|-|
||**1,911**|**-**|
**-**|
**1,911**|**3,747**|
||**1,911**|**-**|
**-**|**1,9**
**11**|**3,74**
**7**|
||-|
-|
-|
-|-|
||**1,911**|**-**|
**-**|
**1,911**|**3,74**
**7**|
|||||||
||||-|
-|-|
|||-||-|-|
||1,912|||1,9
12|3,74
7|
||**1,912**|**-**||**1,9**
**12**|**3,74**
**7**|
The financial statements were approved and authorised for issue by the Board of Trustees on 31[st] July 2023 and were signed below on its behalf by:
## **Adnan Hassan**
31[st] July 2023
The accompanying notes form part of these financial statements.
8 | P a g e
**MY SXB FOUNDATION**
**NOTES TO THE FINANCIAL**
## **FOR THE YEAR ENDED 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation**
**T** he 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) – (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
My SXB Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going Concern**
The trustees have reviewed the charity's financial position, reserves levels and future plans and consider that despite the tough operational circumstances, there are no foreseeable material uncertainties about the charity's ability to continue as a going concern.
## **Income**
All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably.
## **Donations**
Donations income is accounted where there is entitlement, probability and is measurable.
## **Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
## **Value added tax**
The Charity is exempt from VAT.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
9 | P a g e
## **MY SXB FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 March 2023**
|**Section C**|**Section C**|**Notes to the accounts**|**Notes to the accounts**||**(cont)**|**(cont)**|||
|---|---|---|---|---|---|---|---|---|
|**Note 3**|**Income**||||||||
|**Donations and Legacies**|||**Total**|||**Total**|||
||**Unrestricted**|**Restricted**|**2023**|||**2022**|||
||**£**|**£**||**£**||||**£**|
|Donation To Campaign
1550|2,5
29|-|
|2,529|||7,150||
|Gift Aid|1,8
88|||1,888||||-|
|Subscription update|-|-|
|-||||704|
|Order for SXB Global
Social Connect|-|-|
|-||||326|
||**4,4**
**17**|**-**|
|**4,417**|||**8,180**||
|**TOTAL INCOME**|**4,417**|**-**|
|**4,417**|||**8,180**||
|**3 Resources expended**|||||**Total**||**Total**||
||**Direct**|**Staff**|**Support**||**2023**||**2022**||
||**Costs**|**Costs**|**Costs**||**Costs**||**Costs**||
||**£**|**£**|**£**|||**£**||**£**|
|Raising Funds|26
4
|-|4
6|
||31
0
||1,02
1|
|**Charitable Activities and**|||||||||
|**Trading acivities**||||||-|||
|Back To School expenses|5,05
5
|-|88
9|
||5,94
4
||3,41
2|
|**Total Charitable Activities**
**and Trading acivities**|**5,055**
|**-**|
**935**|||5,94
4
||**4,43**
**3**|
|**Total Expenditure**|**5,31**
**9**
|**-**|**93**
**5**|
||**6,25**
**4**
||**5,45**
**4**|
||**2023**|**2022**|||||||
|**Support Costs**|||||||||
||**£**||**£**||||||
|Website|448|612|||||||
|Bank Charges|69|69|||||||
||**517**|**681**|||||||
||**2023**|**2022**|||||||
|**Governance Costs**|**£**||**£**||||||
|Accountancy & legal Fees|418|900|||||||
||**418**|**900**|||||||
10 | P a g e
## **MY SXB FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 March 2023**
## **Section C Notes to the accounts (cont)**
|**Note 5 Cash at bank and in hand**|||||
|---|---|---|---|---|
||**2023**||**2022**||
||**£**||**£**||
|**Short term cash**|||||
|**investments (less than**|||||
|**3 months maturity**|||||
|**date)**||-||-|
|**Short term deposits**||||-|
|**Cash at bank and on**|||||
|**hand**||1,911||3,747|
|**Total**||**1,911**||**3,747**|
## **Note 6 Charity funds**
## **6.1 Details of material funds held and movements during the CURRENT reporting period**
_*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
|**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and**
**Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|---|---|
|**Unrestricted Funds**|U||**3,748**|**4,417**|**6,254**|**1,912**|
||||||||
|**Endowment Property**|PE||**-**|**-**|**-**|**-**|
|||||-|-||
|**Restricted Funds**|R||**-**|**-**|**-**|**-**|
||||||||
|**Total Funds**|||**3,748**|**4,417**|**6,254**|**1,912**|
## **6.2 Details of material funds held and movements during the PREVIOUS reporting period**
_*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
|
**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and**
**Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|---|---|
|**Unrestricted Funds**|U||**-**|**8,180**|**4,432**|**3,748**|
||||||||
|**Endowment Property**|PE||**-**|**-**|**-**|**-**|
|||||-|-||
|**Restricted Funds**|R||**-**|**-**|**-**|**-**|
||||||||
|**Total Funds**|||**-**|**8,180**|**4,432**|**3,748**|
||||||||
11 | P a g e
**MY SXB FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 March 2023**
## **Section C Notes to the accounts (cont)**
## **Note 7 Details of certain types of expenditure**
**Note 7.1** Fees for Auditing of the accounts
_No auditing fees, the charity exempt from auditing._
## **Note 7.2 Paid employees**
## **Staff Costs**
No paid employees, the charity operations run by volunteers and volunteered trustees
Please provide details of expenditure on staff working for the charity None whose contracts are with and are paid by a related party No employees received employee benefits (excluding employer pension None costs) for the reporting period of more than £60,000 Please provide the total amount paid to key management personnel (includes trustees and **£0** senior management) for their services to the charity.
## **8. STATUS**
The entity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales on 16[th] July 2020.
## **9. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS**
There are no related party transactions to report.
## **10. POST BALANCE SHEET EVENTS**
No post balance sheet events.
## **11.** Detailed income and expenses
## **Note 12 Detailed income and expenses**
|**Income**
Donation To Campaign 1550
Subscription update
Order for SXB Global Social Connect
**Expenses**
Fund Raising Expenses
Back To School expenses
Website
Bank Charges
Accountancy Fees
legal Fees|**2023**
2,529
1,888
**4,417**
264
5,055
448
69
350
68
6,254
**( 1,836 )**|**2022**
**£**
7,150
704
326
**8,180**
657
2,195
612
69
900
4,433
-
4,433
**3,747**|
|---|---|---|
12 | P a g e
MY SXB FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2023