REGISTERED COMPANY NUMBER:13192119 (England and Wales) REGISTERED CHARITY NUMBER: 1196424
Seeds Of Sadaqah Limited
Report and Accounts
28 February 2024
SEEDS OF SADAQAH LIMITED
Contents of the Financial Statements for the Year Ended 28 February 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance sheet | 5 |
| Notes to the Financial Statements | 6 |
SEEDS OF SADAQAH LIMITED Report of the Trustees For the year ended 28 February 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2024. 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 2015).
The board of trustees are satisfied with the performance of the charity during the year and the position at 28 February 2024 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
OBJECTIVES AND ACTIVITIES Objectives and aims
Seeds of Sadaqah is a non-profit organisation working to strengthen humanity's fight against poverty,social injustice and natural disaster. Our objective is to advance such charitable purposes as the board members see fit from time to time to time.
In 2023-2024, Seeds of Sadaqah achieved remarkable progress in its mission to support and uplift vulnerable communities through sustainable projects. Our flagship initiative, “Home is Where the Heart Is,” continued to provide essential resources and support for widows, orphans, disabled individuals, and others in critical need. This initiative focuses on offering safe housing and access to clean water, helping to lay the foundation for stability and well-being in underserved communities.
A major accomplishment in 2023-2024 was the construction of 71 tin houses and 39 brick houses, allocated to the most vulnerable members of our community, including widows, orphans, the disabled, and families facing severe hardships. Each home represents more than shelter; it provides a secure and dignified space where families can build stable lives and find renewed hope and security.
In addition to housing, we installed 246 tube wells and 24 mega wells to supply clean water. Each mega well is equipped with 4 to 14 distribution points, depending on location and specific community needs, ensuring broad access to safe drinking water. These wells have transformed access to clean water for many, alleviating health challenges and reducing the daily burden on women and children who once had to walk long distances to collect water.
We also provided 248 Ramadan iftar packs, offering essential food supplies to the most needy members of the community, including everyone who received housing support. These iftar packs gave families nutritious meals during the holy month of Ramadan, fostering a sense of community and relief for those who might otherwise struggle to secure adequate food.
During Eid, our Qurbani project was another vital part of our work this year, with the sacrifice of cows providing fresh meat to needy families across our supported communities. This act of giving helped ensure that many families could celebrate Eid with a wholesome meal and feel connected to the community.
Additionally, we conducted circumcision services for 100 individuals, providing essential healthcare to those who may otherwise lack access to these services. This project focused on the well-being and health of our communities, meeting a critical need for many families.
We were also thrilled to launch our “Kids for Kids” project, which supported over 1,517 orphans by providing them with new clothes for Eid. This initiative brought joy and dignity to children, allowing them to celebrate the holiday with a sense of pride and happiness, wearing new clothes gifted by Seeds of Sadaqah supporters.
As we look forward, we are grateful for the steadfast support of our donors and volunteers. Their contributions make it possible for us to continue building a future where all individuals, regardless of circumstance, have access to the resources they need to live with dignity and hope. Together, we are creating lasting change in the lives of those who need it most.
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Seeds Of Sadaqah Limited Report of the Trustees For the year ended 28 February 2024
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees is governed by the memorandum and articles of association.There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.
Recruitment and appointment of new trustees
When new or additional trustees are required then beneficiaries and client organisations are invited to submit nominations and subject to their compliance with the Memorandum and Articles of Association they are considered by the governing body of trustees for election.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
13192119 (England and Wales)
Registered Charity Number 1196424
Registered office 105 Braintree Street London E2 0FT Trustees Mohammad Asab Uddin Mohamad Abdul Hassan Abdul Husain
Independent Examiner ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays RM17 5DS
FINANCIAL REVIEW
The charity received income of £471,886 (2023: £316,628) during the year. After outgoing expenses of £481,843 (2023: £268,404), the charity was left with a deficit of £9,958 (2023: surplus of £48,224) for the year.
This report has been prepared in accordance with the special provisions of Part 15 of Companies Act 2006 relating to small companies.
Report of the trustees, approved by order of the board of trustees, as the company directors, on 8 November 2024 and signed on the board's behalf by:
Mohammad Asab Uddin-Trustees
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Independent Examiner's Report to the Trustees of SEEDS OF SADAQAH LIMITED
Independent examiner's report to the trustees of Seeds Of Sadaqah ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2024.
Responsibilities and basis of report
As the charity's 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Anwar F Chowdhury FCCA
ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays RM17 5DS
08 November 2024
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Seeds Of Sadaqah Limited Statement of Financial Activities for the year ended 28 February 2024
| Unestricted Fund £ INCOME AND ENDOWMENTS FROM Grants and Donations 58,696 EXPENDITURE ON Other (48,775) NET INCOME 9,921 Total funds 9,921 TOTAL FUNDS CARRIED FORWARDS 9,921 |
Restricted Fund £ 413,190 (433,069) (19,879) (19,879) (19,879) |
28.02.24 Total Funds £ 471,886 (481,844) (9,958) (9,958) (9,958) |
28.2.23 Total Funds £ 316,628 (268,404) 48,224 48,224 48,224 |
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Seeds Of Sadaqah Limited Balance Sheet as at 28 February 2024
| Unestricted Notes Fund £ Current assets Cash at bank and in hand 50,361 Creditors: amounts falling due within one year 2 (1,200) Net current assets 49,161 TOTAL ASSETS LESS CURRENT LIABILITES 49,161 Net assets 49,161 FUNDS Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted Fund £ - - - - |
28.2.24 28.2.23 Total Total Funds Funds £ £ 50,361 60,339 (1,200) (1,220) 49,161 59,119 49,161 59,119 49,161 59,119 49,161 59,119 - - 49,161 59,119 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 8 November 2024 and were signed on its behalf by:
Mohammad Asab Uddin-Trustee
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Seeds Of Sadaqah Limited Notes to the Accounts for the year ended 28 February 2024
1 Accounting policies
Basis of prepararing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
| 2 | Creditors: amounts falling due within one year | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Other creditors | 1,200 | 1,220 |
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2024.
STAFF COSTS
There were no employee for the year ended 28 February 2024.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2024.
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Seeds Of Sadaqah Limited Detailed Statement of Financial Activities for the year ended 28 February 2024
This schedule does not form part of the statutory accounts
| Grants and Donations Employee costs: Travel and subsistence Premises costs: Rent Light and heat General administrative expenses: Telephone and internet Stationery and printing Information and publications Bank charges Insurance Software Repairs and maintenance Sundry expenses Legal and professional costs: Accountancy fees Consultancy fees Management fees Advertising and PR |
2024 £ 471,886 16,889 16,889 9,000 42 9,042 238 38 50 125 306 202 1,104 445,859 447,922 1,200 6,000 - 791 7,991 481,844 |
2023 £ 316,628 6,442 6,442 - - - 15 - 2,057 459 - 4,625 - 252,197 259,353 1,200 100 135 1,175 2,610 268,404 |
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