2025-05-31-accounts - Algbra X

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Trustees’ annual report (including Directors’ report) for the period

From: 1 June 2024 To: 31 May 2025 Charity name: Algbra X Charity registration number: 1197329

Objectives and activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The object of the CIO is to advance for public benefit such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time.
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	Algbra X supported a number of community based initiatives aligned with the organisation’s values of inclusivity and diversity. By 31stMay 2025, Algbra Group had set up a system of direct donations from its customers using its banking platform, on behalf of Algbra X. Donations for the following causes were collected: • New Vision Art Gallery • The BEAM Foundation • Great Ormond Street Hospital • Islamic Relief • Medical Aid for Palestine • Médecins Sans Frontières • Priceless Planet Coalition • UNICEF • WWF • Patchwork Foundation • Ramadan Tent Project • Ramadan Lights
Statement confirming whether the Trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees have had regard to the Charity Commission’s guidance on public benefit when planning all events and determining how best to utilise funds raised.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference

Policy on grant making	Para 1.38	The Charity has a clear and comprehensive grant making policy which sets out a fair and transparent process on how grants are made.
Policy on social investment including program related investment	Para 1.38	[N/A]
Contribution made by volunteers	Para 1.38	[N/A]
Other		In order to ensure transparency and effective governance as well as grant making, the Charity has also opted for the following policies: - Donor Code of Conduct Policy - Due Diligence Policy - Ethical Fundraising Policy - Safeguarding Policy - Trustee Expenses Policy - Financial Handling Policy - Privacy Policy - Data Protection & GDPR Policy - Conflict of Interest Policy - Anti-Harassment & Bullying Policy - Equality, Diversity and Inclusion Policy - Risk Management Policy

Achievements and performance

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	During the period of June 2024 – May 2025, Algbra X has proudly supported the development and growth of the New Vision Art Gallery (NVAG),a pioneering initiative that empowers young artists from conflict-affected regions through art education, mentorship, and global exposure. As part of this partnership, Algbra X sponsored NVAG’s open-air exhibition at St James’s Market Pavilion, London, which showcased over 100 works created by emerging artists from Haiti and the Middle East. This collaboration reflects Algbra X’s ongoing commitment to fostering inclusive, values-driven projects that combine creativity, education, and social impact. Through our continued support, we aim to help NVAG expand its reach and create sustainable opportunities for young artists worldwide.

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	N/A
Investment performance against objectives	Para 1.41	N/A
Other		N/A

Financial review

Review of the charity’s financial position at the end of the period	Para 1.21	As at 31 May 2025, Algbra X had £51,153 cash in hand
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	N/A
Amount of reserves held	Para 1.22	Algbra X does not hold a specific amount in reserve, as the charity does not incur material regular commitments.
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	Algbra X is supported by Algbra FS UK Limited (‘Algbra’) and keeps its cash balance in credit. In the opinion of the Trustees, given the low running costs and the support provided by Algbra, there is no material uncertainty about the charity continuing 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 principal sources of funds for the charity are contributions from Algbra and donations from Algbra’s customers.
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	N/A
Other		N/A

Structure, governance and management

Description of charity’s trusts:
Type of governing document: for example,trust deed, memorandum and articles of association etc	Para 1.25	Memorandum and Articles of Association
How is the charity constituted? for example limited company, 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	The first charity Trustees were appointed for a term of at least one year and not more than five years, the precise term for each being set by the Trustees at their inaugural meeting. This is subject to alteration by them within the terms of the Constitution at any subsequent properly convened meeting. Apart from the first Trustees, every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity Trustees.

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	N/A
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	Board of Three Trustees Two members of part-time staff Collectively these individuals support Algbra X through general operations, finances, and stake holder engagement.
Relationship with any related parties	Para 1.51	The relationship with Algbra is governed by a memorandum of understanding (MOU) which defines the roles and services provided to the charity and the basis of remuneration, if any. As part of this MOU Algbra providesoperational support including staff time, project management and administrative assistance. The Trustees retain full independence in decision-making and ensure that any potential conflicts of interest are declared and managed in accordance with the charity’s Conflict of Interest Policy and clause 7 of the constitution. All decisions are taken in the best interests of the charity and its beneficiaries.
Other		N/A

Reference and administrative details

Charity name	Algbra X
Other name the charity uses	N/A
Registered charity number	1197329
Charity’s principal address	22 Upper Brook Street, London, W1K 7PZ

Names of the charity Trustees who manage the charity

1 2 3 4 5	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Zeiad Idris	Chair
	Fateema Habib
	Timothy Morgan- Wynne	Treasurer

– Corporate Trustees names of the directors at the date the report was approved

Director name N/A

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)

Type of adviser Name Address

Name of chief executive or names of senior staff members (optional information)

Alex Daly, Huma Tariq,

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The company has taken advantage of the small companies’ exemption in preparing the report above.

The Trustees declare that they have approved the Trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s Trustees/directors

----- Start of picture text -----
Signature(s)
Full name(s) Timothy Morgan-Wynne Zeiad Idris
Position (for example Trustee and Treasurer Trustee
Secretary, Chair, etc)
Date
17 March 2026
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Charity Name Algbra X

No (if any) 1197329

Receipts and payments accounts

CC16a

For the period Period start date Period end date To from 01 June 2024 31 May 2025

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £	Total funds to the nearest £	Last year to the nearest £
	132,431	-	-	132,431	163,400
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
*Sub total*(Gross income for AR)	132,431	-	-	132,431	163,400

A2 Asset and investment sales, (see table).
	-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					163,400

Payments to Charitable Organisations	78,377	-	-	78,377	127,071
Administrative expenses	3,534	-	-	3,534	187
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
**Sub total **	81,911	-	-	81,911	127,258

A4 Asset and investment purchases, (see table)
	38,272
	-
**Sub total **	38,272				-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					127,258

	12,248				36,142
	-				-
	38,905				2,762
	51,153				38,904

Section B Statement of assets and liabilities at the end of the period

CCXX R1 accounts (SS) Categories B1 Cash funds	1 Details *Total cash funds* (agree balances with receipts and payments account(s))	Unrestricted funds to nearest £ 51,153 - - 51,153 OK	17/03/2026 Restricted funds Endowment funds to nearest £ to nearest £ - - - - - - - - OK OK	Endowment funds to nearest £
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				-
				-
				-

Details	Unrestricted funds to nearest £	Restricted funds to nearest £	Endowment funds to nearest £
	-	-	-
	-	-	-
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Details	Fund to which asset belongs	Cost (optional)	Current value (optional)
		-	-
		-	-
		-	-
		-	-
		-	-
Signature Details Details Purchase of equipment for Ramadan Lights	Fund to which asset belongs Cost (optional) 38,272 - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name T M Morgan-Wynne Zeiad Idris		Current value (optional)
			-
			-
			-
			-
			-
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			-
			When due (optional)





			Date of approval
			17 March 2026
			17 March 2026

CCXX R2 accounts (SS)

17/03/2026

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALGBRA X

Independent examiner's report to the trustees of Algbra X

I report to the charity trustees on my examination of the accounts of Algbra X for the year ended 30 June 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Andrew Harker FCCA Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

Date: 23 March 2026