Charfty Registration No. 1194746
OLE eco
QIMA
FOUNDATION
THE QlklA FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDEO
31 JANUARY 2024

THE QIMA FOUNDATION
LEGALANDADMINISTRATIVE INFORMATION
Trustees
Rashed Thabet
Fahad Raja
Fari$ Abubaker Ahmed Sheibani
Chairperson
Fans Abubaker Ahmed Sheibani
Charity number
1194746
Principal address
Qima Coffee Ltd
21 Warren Street
London
W1T 5LT
Indepond8nt •xamin•r
Manish Sangani
Ccoper Young & Partners Limited
Hunter House
109 Snakes Lane Wesl
Woodf￿1 Green. Essex
IG8 ODY
8ank8rs
Lbyds Bank
25 Gresham Street
London
EC2V 7HN

THE QIMA FOUNDATION
CONTENTS
Trustees, report
Independent examinerfs re
Statement of financial acbvTties
8alance sheet
Notes to the financial statements
10- 13

THE QIMA FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
The Trustees present their report and financial statements for the year ended 31 January 2024.
The financial statements have been prepared in accordance vmh the accounting poliaes sel out in note
1 to the financial slalemenls and compty th The Qima Foundab"on's goveming d￿UMent. the charib.es Act
2011 and Accounting and Reporting by Charilie5". Stslement of Recomrnended Practs"ce applicable to
charities preparing their accounts in accordance wilh the Financial Reporb'ng Standard applicable in the
UK and Republic of I￿land IFRS 1021. {as amended for accounting periods commencing from 1 January
20161.
ObJo¢tlvo$ and *¢tlvltltrs
The objective of The alma Foundation is to provide poverty relief through..
al designing and implements'ng sustsinable agricullure projects Ihal support famiing communities lo
generate a sustainable income and be self-sufficAent through the adoption of environmentalty and
economically sustainable farming pra¢b'ces that c¢)ntribute to $011 health, productivity and yield
improvements. as well as efficient water management systems;
bl Supporting the $o¢ioeconomic development ol women through increasing access to knowledge and
resources necessary for women to enter the workforce confidentty and create s(bstainable livelihoods
for themselve5 and their families..
cl designing and implementing education projects and programs that provide quality education and
future career Opportun￿'e$ for disadvantsged children and youth., and
dl such other means as the Trustees may fr¢)m time to time see fft.
The Qima FoUndat￿n received income exdusively from pnvate donations during the year. These funds were
primarily used lo support the charitable work carried out by the Qima Foundation for Development I"Qima
Foundation Yemen l. an independent ¢harity ￿gistered in Yemen. While The Qima Foundation and Qima
Foundation Yemen are separate legal enlrties, they are rel*ed through a common trustee. Fans Abubaker
Ahmed Sheibani.
Some of the highlights of the activit*s during the period were".
The laun¢h of operations lor the genelicalty verified ¢offee seedling nursery in northern Yemen,
which subsequenlty distributed rts first batch of see(Ilings lo local farmers. The operats.tsn specificalty
largels farmers with the lowest income, most of which are living belowthe international poverty line.
A new geneticalty verified coffee seedling nursery has been established in soulhem Yemen. Thi5
nursery serves the demand across southern governorates and aligns with the mission of the
northern nursery. Its key benefit is ensuring Ihat the seedlings provided to farmers are of the correct
variety and quality, which signfficandy reduces seedling mortality rates and enhances productivity
as the trees mature. The selection of seedlings is one of the most crucial decisions for smallholder
famiers, impacting the long-temi productivty atKI sustainability of their lamis.
The launch of a household survey in Tar2. southem Yemen. lo analyze famiing systems and study
the economics of coffee famiing households. This survey aims to comprehensively understand
factors such as fami and household e¢onomi¢s. land use. and living income in rel*ion lo the
internab'onal poverty line. The insights gathered wll enable the foundabon lo design a development
plan tailored lo meet both sy51emic and farmer-specific need5.
Through ils °TomorroWs Leadets. donations, The Qima FOundat￿n also supported 17 children by
providing schooling, transportation and nutrib.on to children from impoverished areas of Yemen.
Again, the focus remains on Child￿n trom families living below the intemabonal poverty line.

THE QIMA FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
A total of £71,154 was provided to the Qima Foundation for Development and was broadly spent as follow5..
2024
2023
Seeding and planting l Nursery expenses
Tomorrows Leaders
Administrats've costs
54,083
14,268
2,803
71.154
12,993
12.993
A further £9,168 was spent on research and developmenl12023". £8,529), £2.299 on general administrative
expenses12023.' £7801 and £6,754 was spent on fund raising activities12023'. £nill. These costs were directly
funded by Qima Coffee Ltd.
Us8 of VoluntoerB
The Charity is grateful for the unsbnb.ng work ol ils volunteers who are Involved in the service provision and
fundraising activities. The Iruslees are giving their b.me free of any charges lo promote The Oima
Foundation's activities in the UK and abroad. The trnstees would like to acknowledge the tremendous efforts
of the volunteers. particularly staff from Qima Coffee Ltd. an associatecj company and many supptsrters of
the charty for their conb'nuous support in helping The Qimo Foundation lo achieve 115 objectives during the
period.
Achlevements and perforniance
During the period ended 31 Jènuary 2024. Qima Foundation generated incoming resources of £95,845 ond
expensed resources of £89,374. thereby generaljng a surplus of £6.471. This compares to a defi'¢il in the
prior period of £751.
The 8oard of Tru$lee$ will ¢ontsnue lo reviewlhe reserve policy on an annual ba$1$ to ensure adequate funds
are available lo meet obligations and ever-in¢reasing numbers of emergencies. This policy proved its
effectiveness in enabling the Charity to respond swftly and effectively to unprecedented challenges.
Structure. govemance and management
The Qima Foundation is managed by its governing document, which is signed and agreed by all trustees
and constitutes the goveming document of a registered charity organisation.
The Trustees who served during the period and up to the dale of *gnature of the finan¢ial ststemenls were..
Faris Abubaker Ahmed Sheibani
Rashed Thabet
Fahad Raja
en appointing new trustees to the chanty. the boar(l of trustees consi¢Jer the skills, knO￿edge and
experience of the individual in making the appointment. Al trustees have collective responsibility, which were
possible, 1$ in accordance with their skills and experience. The trustees meet regularty lo discuss affairs of
The Qima Foundation.
The Trustees are responsible for preparing the report and the finanaal ststements in a¢cordance with
applicable law and United Kingdom Generally Accepted Accounb"ng Practice. Charty law in England and
Wales requires the Trustees to prepare financial ststemenls for each financial period which give a true and

THE QIMA FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
fair view of the stsle of affairs of the Charity and of the incoming resources and application of resources of
the Charity for that period. In preparing those financial ststements, the Trustees are required to..
select suitsble accounting policies and apply them consistently".
observe the methods and principles of the Charrties SORP-
make judgement5 and eslimales that are reasonable and prudent.,
slate whether applicable accounb.ng standards have been followed, subject lo any departureg
discbsed and explained in the financial statements., and
prepare the financial slalemenls on the going concem basi5 unless it is inappropriate lo presume
that the aclivrtie5 of the Charity TrMII continue in operation.
The Trustees are responsible for keeping adequate accounting ￿e0rd$ %thi¢h disclose with reasonable
accuracy at any lime the financial posrtion of the Charity and enables them to ensure that the financial
statements comply wlh the Charits'es Ad 2011, the Charty (Accounts and Reports) Regulations 2008 and
the provisions of the govemin9 document. The Trustees are also responsible for safeguarding the assets of
the Charty and hence for taking reasonable steps for the prevention and detects.on of fraud and other
irregularities. The Trustees are responsible for the maintenance and integrity ol the Charity and financial
informalitsn Included in the Chanty's website.
The Trustees. report was approved by the Board of Trustees and *gned on their behaw by..
Farfs AbubakorAhm•d Shol￿nI
Trustee
Dated." 13 November 2024

THE QIMA FOUNDATION
INDEPENDENT EXAMINER? REPORT
TO THE TRUSTEES OF QIMA FOUNDATION REUEF FOUNDATION
I report to Tntstees ￿ my examirthin of the statements ol Th8 Qimo Fourthtion for the
perknj ended 31 January 2024.
R￿PO￿lIti111Il•• arKI kni¥ of r•ptsrt
As the charity tru$te¢s. you are reS￿51t￿e for Iho pTrparation of the in accordance with the
quirements ofthe Charilies Acl 20111lh W. l rnport in respect of my exaninatyon ofthe Tntslee'$ a¢￿Unts
8rried OLrt under sectK)n 145 ofthe 2011 ktand in caryirvj QLrt my examinalion I have folowed allthe appluble
DlreL*on8 gNen by Charity C(*nmwion uThJer 14515)0)) oflhe 2011 Act
IrKknp•nd•nt •xamln•e• 8tat•m•Tht
I have compkted my examlnatknn. I confimi that no Mate￿ matter8 lthie como to rty attanllon kn conn¢¢tlon
vAth the examknakn gfvfin9 me cause to belth that materlal re8pect.'
accountlng rocords were not kept In resp8ct of t￿￿ Trusl 8$ rnquk•d by s•ctlon 130 of the Art or
2. the aCC￿nts do not accord those records," or
3. the accounts do not comth wth th• apF41c8bte requlr•monts crAK￿lTha th• forni arKJ COnt￿t of
accoun18 sel out in the Chanties (Accouth and Rewrts) Regulat5M¥ 2008 other than wy rwulrem8nl
thal the occounls gtve a Yrue and falr ¥lv* whK* i¥ n¢X a matter conwdered 98 Part of an Independent
0x￿6n•t￿.
I hove no ¢onc•m# and have come across no othw mgtters in connection ¥wih the examinalion to vknich attentlon
Jhwld be drawn in rew)rt in wder lo enabkn 8 prow wderstandlng oftho acGounl¥ lo bg reocthed.
Thiy report i# m*Ye Solely to the Charity's Trustee8. 8$ a body, Fn aceord•rt• WTth Part 4 of the Cha￿11￿8
{ACc￿nts and Rep￿ts1 Re9ulatlon8 2C#)8. My been undertaken 80 that I mwhl 8tate lo the Charty'8
Tru$lees those matters l am rtquired lo itste to t￿M in on Ind*pervJ¢rrt &x*minerf$ Report and for no other
purpose. To the fvll•st extent pemrtted by law. I do not 8c¢ept or a￿UM• respomibilty lo anyone othèrthan th•
Charity And the Charfty's Trustee8 as a body. frJr ny WO￿ or for this rewt.
lknnlyjh Sanganl
Ind•p•nd•nt Ex*mln•r
Cocper Young & Partner Ltd
Hunter House
109 Snakès We•t
WoodfDrd Green
IG8 OOY
Dated.. 13 November 2024

THE QIMA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUOING INCOMEAND EXPENDITUREACCOUNT
FOR THE PERIOD ENDED 31 January 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
2024
Total
2023
Notes
In¢om• from:
Donations- Qima Coffee
Other Oonations
Total incom8
77,428
18.417
95,845
77,428
18,417
95,845
9,922
11.829
21,S51
Exp¢ndltur• on:
Fund raising
Support costs
16,7541
2.2991
9.052
16,7541
12.299
9,052
780
780
Research & development
Charitable actThiities
Total r•sourco8 èxpended
19.1681
71,1541_
89.374
19.1681
J71,154}
89.374
18,5291
12,9931
22.302
Ngt incom8 for t￿ pgrlodl Nel
movoment Sn funds
Fund balances at 31 January 2023
Fund balances at 31 January 2024
6.471
17511
5.720
6.471
1751)
5.720
17511
7S1
The slalemenl of financial acts'vilies includes all gains and losses recognised in the period. All income and
expenditure derived from continuing acbvitj'es. There wefe no olher recognised gains or losses other than
those stated above.
The notes on page8 10 to 13 form part of these financial stslements.

THE QIMA FOUNDATION
BALANCE SHE
AS A T31 January 2024
Company Number.. CE025403
2024
2023
Notss
Current assets
Cash al bank
p￿paYments
6,616
664
7,280
29
29
Llabllltl•s
Creditors.. amounts falling due within
one year
10
11,5601
17801
Nat curront ass8ts
5,720
17511
751
Totsl ass¢ts1oss current Ilabllltlos
5,T20
The funds of th• charity
Unreslricled funds- general
Restricted funds
Total lunds hold
5.720
17511
751
The notes on pages 10 to 13 form part of these financial stslements.
The financial stslements were approved by the Trustees and signed on their behatf by..
Farf$ Abub*korAhm•d Shel￿nI
Trustee
Dated.. 13 November 2024

THE QIMA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 January 2024
Accounting policies
The principal accounb.ng poficies adopted are laid out below.
1.1 Accounting convention
The financial statements have been prepared in accordance wth The Qima Foundation's goveming
document. the Chanties Act 2011 and 'Accounling and Reporting by Charities Statement of
Recommended Practice applicable to charth'es preparing their accounts in accordance wrth the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191"
The Qima Foundation is a Public Benefit Enb"ty as defined by FRS 102.
The Qima Foundation has tsken advantsge of the provisions in the SORP for charities applying FRS
102 Update Bulletin 1 not to prepare a Statement of Cash Fkn￿.
The financial slalemenls have departed from the Charrties (Accounts and Reportsl Regulations 2008
only to the extent required to provide a true and fair view. This departUTe has involved followng the
Statement ol Recommended Practice lor charilies applying FRS 102 rather than the version ol the
Slalemenl of Recommended Practice which is referred to in the Regulats'ons bul ￿lch has since bèen
withdrawn.
The financial stslements are prepared in sterling. whith is the functional currency of The Qima Foundation.
Monetary amounts in these financial statements are rounded lo the nearest £. Monetary assets and
liabilities in foreign currencies are translated into steding at the rates ol exchange ruling at the Balance
Sheet dale. Transactions In foreign currenc*s are transLaled Into slerfing al the average rate for the
period. Exchange differences are taken Into account in amving al the operating profit.
The financial statements have been prepared underthe historical cost convention, n￿dIfied lo include the
revaluation of freehold properties and lo include investment properties and certain financial instruments
at fair value. The principal accountsng policies adopted are set out below.
1.2 Golng ¢on¢gm
Al the lime of approving the financial statements, the Trustees have a reasonable expectslion that
the Qima Foundation has adequate resources to contsnue in operational existence for the foreseeable
future. In addition. the Trustees have no inlenlion lo wnd the company up In the foreseeable future.
The Trustees consider that there are currently no material uncertainties which impact on the charity being
able lo continue in ils Current fomi. Thu$ the Trustees conlinue to adopt the going concem basis of
accounting in preparing the financial statements.
1.3 Charitabl8 funds
Unrestricted funds are available for use al the discretion of the Trustees in bjrtherance of their charitable
objectwes.
Restricted fijnds are subject to specrfic condilions by donors as to how they may be used. The
purposes and uses of the reslricled funds are set out in the noles lo the financial stslemenls.
1.4 Incomo
Income is recognised when the Qima Foundation is legalty ent￿ed lo il after any perfomiance conditions
have been met, the amounts can be measured reliabty, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donalions are recognised once the Qima Foundation
has been notified of the donation, unless perfom)ance condilions require deferral of the amount. Income
tax recoverable in relation lo donations received under Gift ￿"d or deed5 of covenant 15 recognised al
the time of the donation.
10

THE QIMA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 January 2024
A¢¢ounting policie$ l¢ontinued)
1.5 Expenditure
Expenditure is recognised when rt is incurred. Expenditure is reported gross of related income.
1.6 C*$h and cash equivalènts
Cash and cash equivalents include cash in hand. deposrts held at call with banks, other short-term liquid
investments with original m*uritses of three months or less. and bank overdrafts. Bank overdrafts
are shown wlhin borrowings in current liabilities.
1.7 D8btors and pmpaym8nts
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepaymen15are valued al the amtsjnl prepaid net of any trade discounts due.
1.8 Llabllltl¢$ and provi$lon8
Liabilities are recognised when there is an oblyalion * the Balance Sheet date as a result of a past event,
il is probable that a transfer ol economic benefit will be required In settlement, and the amount of the
settlement canbe estimated reliably. Liabilthes are recognised at the amount that the Charrty anticipate5 11
will pay lo settle the debt or the amount rt has received as advanced payments lor the goods or services il
musl provide.
Provisions are measured al the best estimate of the amounts required 10 settle the obligation. Vvhere the
effeclof the lime value of money is material. the provision is based on the present value of these amounts,
discountedat the pre-tax discount rale Ihal rellecls the risks specific to the liabilty. The unwinding of the
discount is recognised in the Slatemenl of Financial A¢ts'vitses as a finance ￿$1.
1.9 Taxatlon
The Qima Foundation is a ￿gistered charity and as Sueh is a Charity ￿thin the meaning of schedule 6 of
the Finance Act 2010. Accordingly, the Charity is potenb'ally entitled to tsx exemption under part 11 of
the Corporation Tax Act 2010 or section 256 of the TaxatK*n of Chargeable Gains Act 1992 in respect of
income and gains arising.
Crltlcal a¢¢ountlng estlmates and Judg•ments
In the application of the Qima Foundation's a¢￿Unting policies. the Trustees are required to make
judgements, eslimales and assumptsons about the carrying amount of as5els and liabilities that are not
readily apparent from other sources. The esbmates and associated assumptions are based on
historical experience and other fad¢)rs that are ￿nSIdered lo be relevant. Actual results may differ from
these eslimales.
The estimates and underlying as5umplion5 are reviewed on an ongoing basis. Revisions lo accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period ofthe revision and luture periods where the revision affects both current and future
periods.

THE QIMA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 January 2024
Donations and legacies
Unrestrl¢tod
funds
2024
R•strlctod
funds
2024
Total
2024
Total
2023
Donations- Qima Coffee
Other Donations
For the period
77,428
18.417
95,845
77,428
18,417
95.84S
9,922
11.829
21,551
Othor tradlng actlvitlos
There were no other trading acts'vrties during the period12023." Nonel.
Ral$lng fvnd$ and support Costs
Unr•strl¢tod
funds
2024
Unreslricle(I
funds
2023
Support ¢o$ts
Accountancy fees
Subscriptions
780
1,519
2,299
780
780
Fundraising actiwties costs
6.754
9,052
780
Support costs are those fijnctions that assist the work of the charity bul do not directly undertake charitable
aclivilies. Where support costs cannot be directly attnbuted lo particular headings they have been allocated
on a basis consistent wlh the use of resources.
Costs allocation includes an element of judgement. and the Chanty had to consider the cost benefit of
detailed calculations and record keeping.
Charitable actlvltlos
Charltabla
Expenditure
2024
Charltabl
Expenditure
2023
Seeding and planting
Leaders School project
Support costs
54,083
14.268
2,803
71,154
12,993
12.993
12

THE QIMA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 January 2024
The costs were wholly incurred by the Qima Foundation for Development, a registered charity in Yemen
and related to The Qima Foundatson by virtue of having common Trustees.
Trustso$
None of the Trustees (or any persons connected with them) received any remuneration or benefits from
the Qima Foundation during the period.
Employ•os
There are no employees in the current and previous year. The trustees are deemed to be the key
management personnel and are not remunerated for their services to the charty.
Currnnt assots
2024
2023
Prepayments
664
10 CrgdStors: amounts falllng *lthln on• p•rlod
2024
2023
Accruals and deferred income
1,560
780
780
11
R•lated party transactlons
Qima Coffee Ltd, a company incorporated in England & Wales, has pledged lo support The Qima
Foundation through direct funding. wth 10% of all Company profits being donated lo The Qima
Foundation. During the period. Qima Coffee Ltd donated £77.428 towards the running and charitable
cause of The Qima Foundabon12023". £9.9221
Qima Coffee Ltd is considered a related party. given one of the Trustees of the Qima Foundation being a
director and Significant shareholder of the company.
The fvnds of the ¢harty are used to $upport the tharitable work undertaken by the Qima Foundation for
Development, a registered charity in Yemen and related to The Qima Foundats'on by virtue of having
common Trustees. Dunng the period a total of £71,154 was provided lo the Qima Foundation for
Development12023.. £12,993).
12 Ultimate Controlling Party
The Trustees do not conshyer there to be an U￿"mate controlling party.
13-