2024-03-31-accounts

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MY SXB FOUNDATION ANNUAL REPORT FOR THE YEAR ENDING 31 MARCH 2024

Introduction

MY SXB FOUNDATION is committed to supporting communities in need through various charitable activities, advocacy, and assistance programs. Over the past year, we have continued our efforts to improve lives and create meaningful impact despite financial challenges.

Trustees’ Report

The trustees of MY SXB FOUNDATION present their report for the financial year ending 31 March 2024 .

Objectives and Activities

The foundation continues to focus on:

Providing financial and material support to underprivileged individuals and families.
Organizing community outreach programs to assist those in need.
Promoting education and skill development initiatives.
Supporting emergency relief efforts in crisis situations.

Financial Review

Income and Expenditure Statement

For the year ending 31 March 2024 , the foundation's financial performance was as follows:

Total Income: £1,774
Total Expenditure: £3,614
Net Deficit: £(1,840)

Despite facing a financial deficit, the foundation remains committed to its mission and is actively seeking additional funding sources to sustain and expand its programs.

Reserves Policy

Given the financial deficit, the trustees will explore new fundraising strategies and costsaving measures to ensure the sustainability of the foundation’s activities.

Achievements and Impact

Despite financial constraints, MY SXB FOUNDATION has made significant contributions to the community:

Provided essential food and hygiene packages to over 100 families in need.
Organized educational workshops to empower young individuals with necessary skills.
Partnered with local organizations to enhance outreach and assistance programs.
Continued advocacy efforts to raise awareness on key social issues affecting the community.

Future Plans

Moving forward, MY SXB FOUNDATION aims to:

Strengthen its fundraising strategies by engaging donors and grant opportunities.
Expand outreach programs to reach more beneficiaries.
Develop partnerships with businesses and other non-profits to improve service delivery.
Implement a structured financial sustainability plan to address funding challenges.

Governance and Compliance

The foundation operates in accordance with regulatory requirements and best practices in charity governance. The trustees are committed to maintaining transparency and accountability in financial and operational matters.

Trustees:

Name	Role Date of Appointment	Other Trusteeships	Reporting Status
Adnan Hassan Ali Chair 05 January 2020		None on record	-
Asha Sharif	Trustee 05 January 2020	None on record	-
Ayan Osman	Trustee 05 January 2020	None on record	-

Conclusion

Despite financial challenges, MY SXB FOUNDATION remains dedicated to its mission of serving communities in need. We extend our gratitude to all donors, partners, and supporters who have contributed to our efforts. We look forward to another year of impact and growth.

Approved by the Board of Trustees on [Date]

Signed on behalf of the trustees:

Adnan Hassan Ali Chairperson

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