SALAAM SISTERS ANNUAL REPORT FINANCIAL STATEMENTS ## **Statement of financial activities** |**Unrestricted**
**funds**
**£**|**Unrestricted**
**funds**
**£**|**Restricted funds**
**£**|**Total funds**
**2021**
**£**|**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total funds**
**2020**
**£**| |---|---|---|---|---|---|---| |**INCOMING RESOURCES**||||||| |**Incoming resources from generated funds:**||||||| |Donations|20,888|-|20,888|-|-|-| |**Charitable activities**||||||| ||-|-|-|-|-|-| |**TOTAL INCOMING RESOURCES**|**20,888**|**-**|**20,888**|**-**|**-**|**-**| |||||||| |**RESOURCES EXPENDED**||||||| |Raising funds|600|-|600|-|-|-| |**Charitable activities**||||||| |Stationery|244|-|244|-|-|-| |Food Distribution|500|-|500|-|-|-| |**TOTAL RESOURCES EXPENDED**|**1,344**|**-**|**1,344**|**-**|**-**|**-**| |||||||| |Net Income/(expenditure)|**600.00**|**-**|**600.00**|**-**|**-**|**-**| |Transfer between funds|**-**|**-**|**-**|**-**|**-**|**-**| |Net movement in funds|**-**|**-**|**-**|**-**|**-**|**-**| |||||||| |**Reconciliation of funds**||||||| |**Total funds brought forward**|-|-|-|-|-|-| |**Total funds carried forward**|19,544|-|19,544|-|-|-| ## **Balance sheet** ||**2021**
**£**|**2020**
**£**| |---|---|---| |**FIXED ASSETS**||| |Tangible assets|-|-| |Intangible assets|-|-| ||**-**|-| |**CURRENT ASSETS**||| |Debtors|-|-| |Cash at bank and in hand|20,888|-| |Deposit accounts|-|-| ||**20,888**|-| |**LIABILITIES**||| |Creditors: amounts falling due within one year|-|-| |**TOTAL NET CURRENT ASSETS OR LIABILITIES**|**20,888**|-| |**TOTAL NET ASSETS OR LIABILITIES**|**20,888**|-| |**THE FUNDS OF THE CHARITY**||| |**Unrestricted Funds**||| |Designated funds|-|-| |General funds|20,888|-| |**TOTAL FUNDS**|**20,888**|-| The financial statements are prepared in accordance with applicable law. Approved by the Board on 30 December and signed on its behalf by: Nancy Kanu Trustee ## **Statement of cash flows** ||**2021**
**£**|**2020**
**£**| |---|---|---| |**Cash flow from operating activities**||| |**Net cash provided by (used in) operating activities**|1,344|-| |**Cash flow from investing activities**||| |**Dividends, interest and rents from investments**|-|-| |**Purchase of property, plant and equipment**|-|-| |**Deposit account greater than 3 months**|-|-| |**Net cash provided by (used in) investing activities**|1,344|-| |**Cash flow from financing activities**||| |**Repayments of borrowing**|-|-| |**Cash inflows from new borrowing**|-|-| |**Receipt of endowment**|-|-| |**Net cash provided by (used in) financing activities**|-|-| |**Change in cash and cash equivalent in the reporting period**|-|-| |**Cash and cash equivalent at the beginning of the reporting period**|-|-| |**Change in cash and cash equivalent due to exchange rate movements**|-|-| |**Cash and cash equivalent at the end of the reporting period**|19,544|-| |**A. Reconciliation of net income/(expenditure) to net cash flow from operating activities**||| |**Net Income/(expenditure) for the reporting period (as per the statement of financial activities)**|19,544|-| |**Adjustments for:**||| |**Depreciation charges**|-|-| |**Dividends, interest and rent from investments**|-|-| |**(increase)/decrease in debtors**|-|-| |**Increase/(decrease) in creditors**|-|-| |**Net cash provided by (used in) operating activities**|-|-| |**B. Analysis of cash equivalents**||| |**Cash at bank and in hand**|20,888|-| |**Total cash and cash equivalents**|20,888|-| ## **Notes to the financial statements** ## **ACCOUNTING POLICIES** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period. ## **Legal Status** Salaam Sisters is charitable incorporated organisation (CIO), charity registration number 1191888 registered in England and Wales, and accordingly does not have a share capital. Its registered address is 146 Lomond Grove, Camberwell, London, SE5 7JG. ## **Basis of preparation** The financial statements are prepared in with Accounting and Reporting by Charities: Statements of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2016). Salaam Sisters 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. ## **Preparation of the accounts on a going concern basis** After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future. Awards are given on the basis of secured income. The Trustees are not aware of any material uncertainties about the charity’s ability to continue, and accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees’ Responsibilities. ## **Critical accounting judgements and key sources of estimation uncertainty** In the application of the charity’s accounting policies, which are described in this note, Trustees are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised if the revision affects only that period, or in the period of the revision and future periods. In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. In the view of the Trustees the only significant estimations are those linked to the allocation of support costs across our charitable and non-charitable activities. Allocations of this nature inherently require estimation of time spent on certain activities and other resources use judgements. ## **Volunteers** Volunteers support the work of Salaam Sisters in three ways: ## **Contributing professional services** Members of Salaam Sisters volunteer to organise fundraising activities free of charge and provide facilities for meetings and other events to the charity. ## **Volunteer Support Officer** Volunteer Support Officers, both short-term and long-term, have worked with the community in south-east London to provide assistance in the implementation of our projects. Volunteer Support Officers have direct interaction with all our community development projects, and the role is one that provides invaluable experience of being on the front line. Volunteers are supported and trained in their roles by employees and given assistance where required. ## **Raising Awareness** Volunteers across London help spread the message both online and offline about Salaam Sisters, so more people know what the organisation does and why it exists. This may involve sharing social media posts, distributing flyers at events, or facilitating workshops, seminars, and conferences locally. Due to the difficulty in valuing the total contribution of volunteer time and skills, the value of services provided by volunteers has not been included in the financial statements. ## **Income** All income resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant. Investment income on funds held on deposit in included when receivable and the amount can be measured reliably; this is normally upon notification of the investment income paid or payable by the bank. ## **Expenditure** Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It comprises costs that can be allocated directly to such activities. Costs of raising funds comprises the costs associated with attracting voluntary income. ## **Support costs and governance costs** Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are a component of support costs, and include audit fees, professional fees, license fees and compliance costs, and related staff costs. Support costs are allocated on the basis of the amount of direct time attributable to each area. ## **Redundancy accounting policy** Redundancy cost arising from periodic reviews of staff levels are charged as an expense in the year in which employees leave the organisation. ## **Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Where unrestricted funds have been designated, the likely timing of the expenditure is before the start of the implementation of the project or purpose for which the fund is designated. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. ## **Financial instruments** The charity has assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value (including transaction costs) and are subsequently re-measured where applicable at amortised cost. ## **Cash at bank and in hand and on deposit** Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash held on deposit includes short-term investments with a maturity of greater than three months. ## **Tangible and intangible fixed assets and depreciation** Fixed assets are stated at cost less accumulated depreciation/amortisation. Depreciation/amortisation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Leasehold improvements – Straight line over 5 years Fixture, fittings, and equipment – Straight line over 3 years Intangible assets – Straight line over 3 years All items of expenditure greater than £750 are capitalised if they meet the definition of a fixed asset as stated within FRS 102. ## **VOLUNTARY INCOME** |**Unrestricted funds**
**£**|**Unrestricted funds**
**£**|**Restricted**
**funds**
**£**|**2021**
**Total funds**
**£**|**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**2020**
**Total funds**
**£**| |---|---|---|---|---|---|---| |**Member’s contributions**|20,888|-|20,888|-|-|-| |**Donations from friends and family**|-|-|-|-||-| |**Donations from the general public**|-|-|-|-||-| |**Income from services**|-|-|-|-|-|-| |**Gift Aid**|-|-|-|-|-|-| |**Grant income**|-|-||-|-|-| |**20,888**||**-**|**20,888**|**-**|**-**|**-**| ## **INVESTMENT INCOME** ||**Total funds 2021**|**Total funds 2021**|**Total funds 2020**|**Total funds 2020**| |---|---|---|---|---| |**Income on deposits**||-|-|| |**Total**||-|-|| |**NET INCOME RESOURCES**||||| ||||**2021**
**£**|**2020**
**£**| |||||| |**Net incoming resources for the period is stated after charging**||||| |Depreciation and other amounts written off fixed assets||-||-| |Operating lease charges||-||-| |**Consultant’s remuneration (including VAT)**||||| |Consultant’s fees||-||-| |Non-consulting fees||-||-| |||**-**||| ## **ANALYSIS OF EMPLOYEE COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL** ||**2021**
**£**|**2020**
**£**| |---|---|---| |**Employee costs**||| |Wages and salaries|-|-| |Social security costs (employers NI)|-|-| |Employer pension contribution|-|-| ||**-**|-| ## No employee has benefits in excess of **£60,000** . The charity Trustees were not paid and did not receive any other benefits from employment with the charity in this reporting period. Further, no Trustee was reimbursed for travel expenses. No charity Trustee received payment for professional services or other services supplied to the charity. ## **Employee numbers:** The average number of persons employed by Salaam Sisters whether on a full-time or part-time basis during the period was as follows: ||**2021**
**£**|**2020**
**£**| |---|---|---| |Average number of employees|-|-| |Average employee numbers by department||| |||| |Marketing|-|-| |Operations|-|-| ## **TAXATION** Salaam Sisters is a registered charity and, as such, is exempt from taxation on its income to the extent it is applied to its charitable purposes. ## **INTANGIBLE AND TANGIBLE FIXED ASSETS** ||**INTANGIBLE**
**£**|**TANGIBLE**
**Buildings**
**£**|**TANGIBLE**
**Fixtures, fittings, and equipment**
**£**|**Total**
**£**| |---|---|---|---|---| |**Cost**||||| |On 1 January 2021|-|-|-|-| |Addition in year|-|-|-|-| |Disposals in year|-|-|-|-| |**On 31 December 2021**
**Depreciation**|-|-|-|-| |On 1 January 2021|-|-|-|-| |Change for the year|-|-|-|-| |Eliminated on disposal|-|-|-|| |On 31 December 2021|-|-|-|| |**Net book value**
**On 31 December 2021**|-|-|-|| |**On 31 December 2020**|-|-|-|-| The intangible additions are capital expenditure to enable Salaam Sisters to embark on a digital transformation. This is to improve the experience for donors, beneficiaries, and service users. ## **DEBTORS** |**2021**
**£**|**2021**
**£**|**2020**
**£**| |---|---|---| |Trade debtors|-|-| |Accrued income|-|-| |Prepayments|-|-| |Other debtors|-|-| |**-**||-| ## **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||**2021**
**£**|**2020**
**£**| |---|---|---| |Total creditors|-|-| |Taxation and social security|-|-| |Accruals and deferred income|-|-| |Other creditors|-|-| ||**-**|-| Some grants are approved in principle for periods which extend past the year-end date. Subsequent period grants represent planned future commitments but are not recognised as a liability when they are approved, as payment is conditional upon satisfactory progress. ## **ANALYSIS OF NET ASSETS BETWEEN FUNDS** ||**Unrestricted**
**Funds**
**£**|**Restricted funds**
**£**|**Total funds**
**2021**
**£**|**Total funds**
**2020**
**£**| |---|---|---|---|---| |Fund balance on 31 December 2021 as represented by:||||| |Tangible and intangible fixed assets|-|-|-|-| |Net current assets|-|-|-|-| ||**-**|**-**|**-**|**-**| ## **OPERATING LEASE COMMITMENTS** The charity’s total future minimum lease payments under non-cancellable operating leases are as follows for each of the following periods: ||**Property**|**Property**|**Office**|**Equipment**|
**Total**|
**Total**| |---|---|---|---|---|---|---| |||||||| ||**2021**
**£**|2020
£|2021
£|2020
£|2021
£|2020
£| |Due within one year|-|-|-|-|-|-| |Due between two to five years|-|-|-|-|-|-| |Due in over five years|-|-|-|-|-|-| ||**-**|**-**|**-**|**-**|**-**|**-**| ## **Trustees’ Annual Report for the period** **From** _October 2020_ **Period start date To** _December 2021_ **Period end date** ## **Charity name: Salaam Sisters** ## **Charity registration number: 1191888** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|For the public benefit to develop the capacity
and skills of the members of socially and
economically disadvantaged communities of
Southeast London in such ways that they are
better able to identify, and help meet, their
needs and to participate more fully in society.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|Since
the
approval
of
our
registration
application, we have been working to develop a
project proposal that will enable us to deliver on
the objectives of the charity. We have agreed to
set up a system to support current and failed
asylum seekers and those with no recourse to
public funds.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees confirm that they have had regard
to the guidance issued by the Charity
Commission on public benefit and they are
committed to adhere to its contents and spirit.| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|**N/A**| |Policy on social investment
including program related
investment|Para 1.38|**N/A**| |Contribution made by
volunteers|Para 1.38|The charity depends wholly on its members who
are also its volunteers to raise funds and to
deliver projects geared towards fulfilling the
charity’s objectives. All the income for this
reporting year was provided by volunteers
through their monthly contributions.| Other ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|As this is the first year since the charity was
established, the main focus has been on
preparation and putting all the resources
necessary for its achievement and performance
together before embarking on its quest to make
impact on its beneficiary community.| **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Achievements against
objectives set|Para 1.41|**N/A**| |Performance of fundraising
activities against objectives
set|Para 1.41|No
objectives
were
set
for
this
year’s
performance in fundraising activities. However,
the charity was able to receive £20,888 from its
monthly membership contributions to furthering
the objectives of the charity.| |Investment performance
against objectives|Para 1.41|**N/A**| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|Given that the charity received an income of
£20,888 and spent £1,344, indicates that the
charity’s financial position is healthy, and the
future looks very good for the charity.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|As the amount of income is still in the lower level,
the charity does not have any reserves.
However, it is working on developing its reserve
policy and other policies necessary to effectively
manage the charity.| |Amount of reserves held|Para 1.22|**N/A**| |Reasons for holding zero
reserves|Para 1.22|**N/A**| |Details of fund materially in
deficit|Para 1.24|**N/A**| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|The Trustees are aware of no uncertainties
about the charity continuing as a going concern.
As far as the Trustees are concerned the charity
is in a very healthy position to continue as a
going concern.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|The charity’s main funders are its members.
Every month, each member of the charity pay
any amount that they can afford to contribute
towards the charity reaching its goals. This year
planned have been made to organise bigger
fundraising events to would increase the
charity’s
funding
stream
and
boost
the
contributions received from its members.| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|The charity does not intend to invest in the short
or medium term. Therefore, there is currently no
investment policy.| |A description of the principal
risks facing the charity|Para 1.46|The Trustees consider that the charity is open to
financial and reputational risks as they we are
planning to organise fundraising activities both
physically and online. We have heard from other
charities about the financial risks associated with
online fundraising and we are working to develop
a robust fundraising strategy and policy. The
fundraising policy will address the risk factors
and put in place mitigating measures to either
minimise or eliminate such risks.| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||Salaam Sisters is an association model charitable
incorporated organisation governed by a Board
of Trustees whose duties and obligations include
to further the objectives of the charity while at
the same time ensure that all the regulatory
requirements are adhered to.| |---|---|---| |Type of governing document
(trust deed, royal charter)|
Para 1.25|Association Model Constitution| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|The charity is constituted as a Charitable
Incorporated Organisation.| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|All Trustees are elected at Annual General
Meetings and re-elected every two years. no
trustee is allowed to be a trustee for more than
nine years. trustees are elected from the general
membership of the charity and based on their
skills, knowledge, and experience. At the
election, each member of the charity shall cast a
vote by a secret ballot based on first past the
post.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|The trustees confirm that most of the policies
and procedures necessary to run the charity are
in place.| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|Below the Board of Trustees is the Executive
Director who is responsible for the day-to-day
running of the charity. She is supported by a
Project
Manager,
Administrative
Officer,
Community
Engagement
Manager,
and
Fundraising Manager. The charity works mainly
with the MRU Community in the UK. This
Community is defined as descendants from
Sierra Leone, Guinea, Liberia, and Ivory Coast
living in the UK.| |Relationship with any
related parties|Para 1.51|The Trustees ensures that guidance on conflict
of interests are adhered to strictly and require all
members to declare their relationships and/or
affiliations with individuals, organisations, and
businesses that the charity works with.| |Other||| ## **Reference and Administrative details** |Charity name|Salaam Sisters| |---|---| |Other name the charity uses|N/A| |Registered charity number|1191888| |Charity’s principal address|146 LOMOND GROVE
CAMBERWELL
LONDON
SE5 7JG| ||| **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |---|---|---|---|---| ||Fatmata Sillah|Chair||Board of Trustees| ||Kadiatu Kamara|Trustee||Board of Trustees| ||Isatu Bah|Treasurer||Board of Trustees| ||NancyKanu|Secretary||Board of Trustees| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – Corporate trustees names of the directors at the date the report was approved **Director name Nancy Kanu** Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year**|| |---|---|---| |**N/A**||| |||| |||| |||| |||| |||| ## **Funds held as custodian trustees on behalf of others** |Description of the assets
held in this capacity|N/A| |---|---| |Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|N/A| |Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets|N/A| ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of**
**adviser**
**Name**
**Address**||| |**Legal**|CAD-HR|2 Danesfield, 220 Albany Road, London, SE5 0AW| |**Organisational**
**Support**|CAD-HR|2 Danesfield, 220 Albany Road, London, SE5 0AW| |||| |||| **Name of chief executive or names of senior staff members (Optional information)** N/A ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **N/A** ## **Other optional information** **N/A** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s) Full name(s)** Nancy Kanu **Position (eg Secretary, Chair, etc)** Secretary **Date** 21/02/2022