## **Trustees’ Annual Report for the period**
**From 15/11/2021 Period start date To 31/03/2023 Period end date**
## **Charity name: Dayax Foundation**
## **Charity registration number: 1196588**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|Our goal is to establish sustainable
programs and initiatives in somalia, that will
have a lasting impact on the communities we
serve. We aim to create job opportunities,
improve access to education and healthcare,
and provide training and resources to
empower individuals to become self-
sufficient and contribute to their local
economy.|
|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|Education/training, The Advancement Of
Health Or Saving Of Lives,Supporting
Disability and Orphans|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|Cognisant of our responsibilities as trustees,
we confirm our adherence to the Charity
Commission's guidance on public benefit.
Throughout the reporting period, our
decisions and actions have been guided by
these principles. We are dedicated to
ensuring our charitable activities provide
maximum public benefit, particularly in
addressing the needs of orphan and
disabled individuals in Somalia facing
poverty. Our commitment to transparency
and accountability is unwavering as we
strive to fulfil our mission and objectives.|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers 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|Para 1.20|During the reporting period, Dayax
Foundation made notable strides in its
mission to support orphan and disabled
individuals in Somalia facing poverty. Our
achievements include providing essential
foods to a village, increasing awareness and
advocacy, empowering disabled individuals
through skills training, building strategic
partnerships, and contributing to educational
initiatives. While this marks just the
beginning of our journey, these|
benefits to society as a achievements signify our commitment to whole. positive change. Looking ahead, we are actively enhancing our marketing efforts, confident that increased visibility will amplify our impact and lead to even greater success in the coming year.
**Additional information (optional)** You may choose to include further statements where relevant about:
Achievements against objectives set Para 1.41 Performance of fundraising activities against objectives set Para 1.41 Investment performance against objectives Para 1.41 Other
## **Financial Review**
|Review of the charity’s
financial position at the end
of the period|Para 1.21|At the end of the reporting period, Dayax
Foundation acknowledges the current
financial challenges. However, we remain
optimistic about our future prospects. The
implementation of a comprehensive
advertising strategy is underway to enhance
fundraising efforts and secure a more robust
financial footing.|
|---|---|---|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Dayax Foundation maintains reserves to
address critical needs, particularly for
beneficiaries on a hospital equipment waiting
list. The reserves serve as a crucial buffer,
ensuring timely support for those requiring
medical assistance. The policy emphasises
the importance of financial preparedness to
fulfil our mission effectively.|
|Amount of reserves held|Para 1.22|As of 23/01/2024, our reserves stand at
£473.20, earmarked for imminent needs and
ongoing commitments to beneficiaries. This
amount represents a strategic allocation to
maintain flexibility and responsiveness in our
assistance programs.|
|Reasons for holding zero
reserves|Para 1.22|N/A|
|Details of fund materially in
deficit|Para 1.24|At present, there are no funds materially in
deficit. Dayax Foundation remains vigilant in
financial management to prevent deficits and
sustain our commitment to beneficiaries and
mission.|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|As of 23/01/2024, there are no uncertainties
about Dayax Foundation continuing as a
going concern. While the financial position
poses challenges, the proactive steps taken,
including enhanced advertising efforts, aim
to strengthen the charity's sustainability and
resilience in the long term.|
## **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|
|---|---|
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|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
## **Structure, Governance and Management**
|Description of charity’s
trusts:||Dayax Foundation manages its funds
through a bank account. All financial
transactions, including cash donations, are
deposited into this account. This ensures
transparency, ease of tracking, and
compliance with financial regulations. The
funds in the bank account are utilised to
support the charitable activities outlined in
our governing document.|
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|Constitution of the Charitable Incorporated
Organisation|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|CIO|
|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|Trustees for Dayax Foundation are selected
through a process involving nominations,
elections, and possible appointments by
existing trustees. Our constitution outlines
eligibility criteria, terms of office, and any
provisions for external appointments to
ensure a diverse and committed board
aligned with our charitable objectives.|
## **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 charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51||
Relationship with any related parties Para 1.51 Other
## **Reference and Administrative details**
|Charity name|Dayax Foundation|
|---|---|
|Other name the charity uses||
|Registered charity number|1196588|
|Charity’s principal address|9 Washwood Heath Road
Saltley, Birmingham
B8 1SH|
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**Names of the charity trustees who manage the charity**
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20|**Trustee name**|**Office (if any)**|**Dates acted if not**
**for whole year**|**Name of**
**person (or**
**body) entitled**
**to appoint**
**trustee (ifany)**|
|---|---|---|---|---|
||Fozia Jama||15/11/2021|Khadija
Hussein|
||Faiza Halane||15/11/2021|Khadija
Hussein|
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– Corporate trustees names of the directors at the date the report was approved
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**Director name**|||
|---|---|---|
|Khadija Hussein|15/11/2021||
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Name of trustees holding title to property belonging to the charity
|**Trustee name**|**Dates acted if not for whole year**||
|---|---|---|
|Fozia Jama|15/11/2021||
## **Funds held as custodian trustees on behalf of others**
Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional) Names and addresses of advisers (Optional information)**
**Type of Name Address adviser**
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **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)** Khadija Hussein **Position (eg** CEO **Secretary, Chair, etc) Date** 23/01/2024