Company registration number: CE025403 Charity registration number: 1194746
**THE QIMA FOUNDATION TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
Cooper Young & Partners Ltd Chartered Accountants Hunter House 109 Snakes Lane West Woodford Green Essex IG8 0DY
## **THE QIMA FOUNDATION Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2—4|
|Independent Examiner's Report|5|
|Statement of Financial Activities (including Income and Expenditure Account)|6|
|Statement of Financial Position|7|
|Notes to the Financial Statements|8—11|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities (including Income and Expenditure Account)|12|
**THE QIMA FOUNDATION Reference and Administrative Details For The Year Ended 31 January 2025**
|**Trustees**|Mr Rashed Thabet|
|---|---|
||Mr Fahad Raja|
||Mr Faris Abubaker Ahmed Sheibani|
|**Charity Number**|1194746|
|**Company Number**|CE025403|
|**Principal Address**|Qima Coffee Ltd|
||21 Warren Street|
||London|
||W1T 5LT|
|**Independent Examiner**|Manish Sangani|
||Cooper Young & Partners Ltd|
||Chartered Accountants|
||Hunter House|
||109 Snakes Lane West|
||Woodford Green|
||Essex|
||IG8 0DY|
Page 1
## **THE QIMA FOUNDATION Company No. CE025403 Trustees' Report For The Year Ended 31 January 2025**
The trustees present their report and the financial statements for the year ended 31 January 2025.
## **Objectives and Activities**
## **Aims and Objectives**
The Trustees present their report and financial statements for the year ended 31 January 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with The Qima Foundation’s governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).
The objective of The Qima Foundation is to provide poverty relief through:
a) designing and implementing sustainable agriculture projects that support farming communities to generate a sustainable income and be self-sufficient through the adoption of environmentally and economically sustainable farming practices that contribute to soil health, productivity and yield improvements, as well as efficient water management systems;
b) supporting the socioeconomic development of women through increasing access to knowledge and resources necessary for women to enter the workforce confidently and create sustainable livelihoods for themselves and their families;
c) designing and implementing education projects and programs that provide quality education and future career opportunities for disadvantaged children and youth; and
## d) such other means as the Trustees may from time to time see fit.
The Qima Foundation received income exclusively from private donations during the year. These funds were primarily used to support the charitable work carried out by the Qima Foundation for Development (“Qima Foundation Yemen”), an independent charity registered in Yemen. While The Qima Foundation and Qima Foundation Yemen are separate legal entities, they are related through a common trustee, Faris Abubaker Ahmed Sheibani.
## **2025 Program Highlights and Achievements**
Throughout the year, the Foundation continued its impactful work in Yemen, focusing on long-term sustainability and community empowerment. The following are key highlights from our core programs:
- Building on our previous work, the Foundation continued to operate two genetically verified coffee seedling nurseries. The northern Yemen nursery successfully distributed its first batch of seedlings to local farmers, a significant milestone in our efforts to support low-income agricultural communities. The southern Yemen nursery expanded its operations to meet the growing demand across the southern governorates. These nurseries are critical to our mission, as they ensure farmers receive high-quality, correctly identified seedlings, which dramatically reduces mortality rates and enhances long-term farm productivity and sustainability.
- The Foundation completed a comprehensive household survey in Taiz, southern Yemen. This research initiative was designed to analyze local farming systems and the economic realities of coffee-farming households. The data gathered on farm economics, land use, and household income provides invaluable insights that will inform the design of a targeted development plan to address both systemic challenges and the specific needs of individual farmers.
- Through our “Tomorrow’s Leaders” program, we continued our commitment to youth education. In 2025, we provided support for 16 children from impoverished areas of Yemen, covering the costs of their schooling, transportation, and nutrition. This program remains a cornerstone of our efforts to break the cycle of poverty by investing in the next generation.
A total of £42,081 was provided to the Qima Foundation for Development in Yemen to fund its charitable activities. The allocation of these funds is summarized below:
|
allocation of these funds is summarized below:|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Seedling and planting / Nursery expenses|24,772|54,283|
|Tomorrows Leaders|13,911|14,268|
|Administrative costs|3,398|2,803|
|**Total**|**42,081**|**71,154**|
Additional operational costs, including wages, fundraising, and general administrative expenses, amounted to £35,443 (2024: £45,221) and were directly funded by Qima Coffee Ltd.
Page 2
## **THE QIMA FOUNDATION Trustees' Report (continued) For The Year Ended 31 January 2025**
## **Achievements and Performance**
## **Main Achievements**
During the financial year, The Qima Foundation generated total incoming resources of £71,321 compared to £95,845 in the preceding year. Total expenditure for the year amounted to £77,524, resulting in a net deficit of £6,203 in contrast to the net surplus of £6,471 recorded in 2024.
The Board of Trustees continues to review the Charity’s reserves policy annually, to ensure that sufficient funds are maintained to meet operational commitments and respond effectively to increasing humanitarian needs and emergency situations. The policy remained effective during the year, enabling the Charity to act promptly and responsibly when required.
## **Use of Volunteers**
The Charity acknowledges with sincere appreciation the invaluable support and dedication of its volunteers, who contribute extensively to service delivery and fundraising initiatives. The Trustees also provide their time and expertise voluntarily, without any remuneration, to promote and advance the objectives of The Qima Foundation both in the UK and Yemen
The Trustees further wish to record their gratitude to all volunteers, including staff members of Qima Coffee Ltd, an associated company, along with the many supporters who have consistently contributed their time, effort and resources. Their ongoing commitment has played a significant role in enabling The Qima Foundation to pursue and achieve its charitable aims throughout the period.
## **Structure, Governance and Management**
## **Governing Document**
The Qima Foundation operates under its governing document, agreed and executed by all Trustees. This document sets out the constitutional framework and governance principles of the Charity as a registered charitable organisation.
Trustees serving during the year and up to the date of approval of the financial statements were:
Faris Abubaker Ahmed Sheibani Rashad Hajj Fahad Patel
## **Trustee Selection Methods**
In appointing new Trustees, the Board considers the relevant skills, experience and knowledge that candidates may bring to the role. All Trustees share collective responsibility for the strategic oversight and governance of the Charity, exercising their duties in alignment with their expertise. The Trustees meet regularly to review operations, financial performance, governance matters and strategic development.
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of THE QIMA FOUNDATION for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 3
## **THE QIMA FOUNDATION Trustees' Report (continued) For The Year Ended 31 January 2025**
## **Small Company Rules**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr Faris Abubaker Ahmed Sheibani
Trustee 26 November 2025
Page 4
## **THE QIMA FOUNDATION Independent Examiner's Report to the Trustees of THE QIMA FOUNDATION For The Year Ended 31 January 2025**
I report to the charity 31 January 2025 on my examination of the accounts of the Company for the year ended 31 January 2025.
## **Responsibilities and Basis of Report**
As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Manish Sangani 26 November 2025 Cooper Young & Partners Ltd Chartered Accountants Hunter House 109 Snakes Lane West Woodford Green Essex IG8 0DY
Page 5
## **THE QIMA FOUNDATION Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 January 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
**EXPENDITURE ON:**
Raising funds
**4**
Charitable activities:
**4**
Agriculture projects to support farming
**NET (EXPENDITURE)/INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**10**|**2025**
**Unrestricted**
**funds**
**£**
75,558|**2024**
**Unrestricted**
**funds**
**£**
95,845|
|---|---|---|
||-
(82,831)|(6,754)
(82,620)|
||(82,831)|(89,374)|
||(7,273)|6,471|
||(7,273)
5,720|6,471
-|
||(1,553)|5,720|
The notes on pages 8 to 11 form part of these financial statements.
Page 6
## **THE QIMA FOUNDATION Statement of Financial Position As At 31 January 2025**
|**Notes**
**CURRENT ASSETS**
Debtors
**8**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**9**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET (LIABILITIES)/ASSETS**
**FUNDS OF THE CHARITY**
Unrestricted Funds
**TOTAL FUNDS**
**10**|**2025**
**Unrestricted**
**funds**
**£**
106
971|**2024**
**Total**
**funds**
**£**
664
6,616|
|---|---|---|
||1,077
(2,630)|7,280
(1,560)|
||(1,553)|5,720|
||(1,553)|5,720|
||(1,553)|5,720|
||(1,553)|5,720|
||(1,553)|5,720|
For the year ending 31 January 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Faris Abubaker Ahmed Sheibani
Trustee 26 November 2025
The notes on pages 8 to 11 form part of these financial statements.
Page 7
**THE QIMA FOUNDATION Notes to the Financial Statements For The Year Ended 31 January 2025**
## 1. **General Information**
THE QIMA FOUNDATION is a company limited by guarantee, incorporated in England & Wales, registered number CE025403 and registered charity number 1194746. The registered office is .
## 2. **Accounting Policies**
## 2.1. **Basis of Preparation of Financial Statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Qima Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## 2.2. **Going Concern Disclosure**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Qima Foundation has adequate resources to continue in operational existence for the foreseeable future. In addition, the Trustees have no intention to wind the company up in the foreseeable future.
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.
## 2.3. **Significant judgements and estimations**
In the application of the Qima Foundation’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## 2.4. **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## 2.5. **Incoming Resources**
Incoming resources are recognised when the charity is entitled to the income, probable that it will be received, and the amount can be measured reliably.
Income is reported gross, unless the charity is acting as an agent (in which case only the fee or commission is recognised).
Income is classified by source to support clear reporting to trustees, funders, and regulators.
Unrestricted Donations are recognised when the donation is received, or the donor has made a firm commitment. Restricted Donations are recognised as above, but recorded in a restricted fund and used only for the specified purpose.
Page 8
## **THE QIMA FOUNDATION Notes to the Financial Statements (continued) For The Year Ended 31 January 2025**
## 2.6. **Resources Expended**
QIMA Foundation recognises resources expended on an accruals basis, meaning costs are recorded when the obligation is incurred, not when payment is made.
Costs directly related to delivering the charity’s objectives, including project costs, programme delivery, beneficiary support, and related staff time.
These costs include both direct expenses and an appropriate share of support costs.
Costs incurred to secure donations, grants, and other income, includes fundraising event costs, campaign materials, marketing, and staff involved in fundraising.
Costs necessary for the strategic management and legal compliance of the charity, includes audit or independent examination fees, trustee meetings, legal advice, and regulatory filing costs.
Overheads that support all charitable operations—e.g., office costs, finance/admin staff, IT, insurance. Allocated to cost categories using a reasonable and consistent method (e.g., staff time or usage).
## 2.7. **Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 2.8. **Foreign Currencies**
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.
## 2.9. **Taxation**
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
## 3. **Income from Donations and Legacies**
||**2025**|**2024**|
|---|---|---|
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**£**|**£**|
|Donations and gifts|75,558|95,845|
## 4. **Analysis of Expenditure**
|Agriculture projects to support farming
Raising funds
Agriculture projects to support farming|**Activities**
**undertaken**
**directly**
**£**
72,837|**Support**
**costs**
(see note 5)
**£**
9,994|**2025**
**Total**
**£**
82,831|
|---|---|---|---|
||**Activities**
**undertaken**
**directly**
**£**
6,754
80,878|**Support**
**costs**
(see note 5)
**£**
-
1,742|**2024**
**Total**
**£**
6,754
82,620|
||87,632|1,742|89,374|
Page 9
## **THE QIMA FOUNDATION Notes to the Financial Statements (continued) For The Year Ended 31 January 2025**
5. **Support Costs**
|Premises expenses
General administration
General administration
6.
**Staff Costs**
Staff costs were as follows:
**2025**
**£**
Wages and salaries
33,498|**2025**
**Agriculture**
**projects to**
**support**
**farming**
**£**
7,055
2,939|
|---|---|
||9,994|
||**2024**
**Agriculture**
**projects to**
**support**
**farming**
**£**
1,742|
||**2024**
**£**
36,149|
The charity did not employ any staff in the United Kingdom during the year (prior year: none). All employee-related costs relate to staff employed overseas in connection with the charity’s main activities.
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
## 7. **Average Number of Employees**
Average number of employees during the year was: 9 (2024: 9)
## 8. **Debtors**
|**Due within one year**
Other debtors
9.
**Creditors: Amounts Falling Due Within One Year**
Accruals and deferred income|**2025**
**£**
106
**2025**
**£**
2,630|**2024**
**£**
664|
|---|---|---|
|||**2024**
**£**
1,560|
Page 10
## **THE QIMA FOUNDATION Notes to the Financial Statements (continued) For The Year Ended 31 January 2025**
## 10. **Movement in Funds**
|**Unrestricted funds**
General:
General unrestricted fund
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Total funds**|**As at 1**
**February**
**2023**
**£**
-|**As at 1**
**February**
**2024**
**£**
5,720|**Income**
**£**
75,558|**Expenditure**
**£**
(82,831)|**As at 31**
**January**
**2025**
**£**
(1,553)|
|---|---|---|---|---|---|
|||5,720|75,558|(82,831)|(1,553)|
|||**Prior year**
**adjustment**
**£**
(751)|**Income**
**£**
95,845|**Expenditure**
**£**
(89,374)|**As at 31**
**January**
**2024**
**£**
5,720|
||-|(751)|95,845|(89,374)|5,720|
## 11. **Transactions with Trustees**
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
## 12. **Related Party Disclosures**
Qima Coffee Ltd, a company incorporated in England & Wales, has pledged to support The Qima Foundation through direct funding, with 10% of all Company profits being donated to The Qima Foundation. During the period, Qima Coffee Ltd donated £75,203 towards the running and charitable cause of The Qima Foundation (2024: £70,604)
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.
## 13. **Controlling Parties**
The charitable company has no controlling party
Page 11
**THE QIMA FOUNDATION Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 January 2025**
|**INCOME AND ENDOWMENTS FROM:**
**Donations and legacies**
Donations from organisations
External donations
**EXPENDITURE ON:**
**Raising funds**
Fund raising activies
**Charitable Activities:**
**Agriculture projects to support farming**
Farming, distribution and seedings
Leaders school projects
Fund raising activies
Research and developments
Other support costs
Travel and Accomodation
Wages and salaries (overseas)
Marketing and advertising costs
Fee and subscriptions
Rent
Repairs, renewals and maintenance
Telecommunications
Accountancy fees
Legal fees
Bank charges
**NET (EXPENDITURE)/INCOME**|**2025**
**Total**
**funds**
**£**
75,203
355|**2024**
**Total**
**funds**
**£**
77,428
18,417|
|---|---|---|
||75,558|95,845|
||75,558
-|95,845
(6,754)|
||-
(18,629)
(14,685)
(767)
-
(3,563)
(286)
(33,498)
(850)
(559)
(7,055)
(372)
(509)
(1,850)
(20)
(188)|(6,754)
(17,344)
(14,268)
-
(9,168)
(1,403)
(410)
(36,149)
(617)
(1,519)
-
(181)
(584)
(780)
-
(197)|
||(82,831)|(82,620)|
||(82,831)|(89,374)|
||(7,273)|6,471|
Page 12