## **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
**----- End of picture text -----**
**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 £**|**Unrestricted**
**funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Total 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 £**| |---|---|---|---|---| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |Signed by one or two trustees on
behalf of all the trustees
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|**Details**|**Details**|**Unrestricted**
**funds**
**to nearest £**|**Unrestricted**
**funds**
**to nearest £**|**Restricted funds**
**to nearest £**|**Restricted funds**
**to nearest £**|**Endowment**
**funds**
**to nearest £**| |---|---|---|---|---|---|---|---| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||**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)**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**When due**
**(optional)**| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||Date of approval| ||||||||17 March 2026| ||||||||17 March 2026| ||||||||| CCXX R2 accounts (SS) 17/03/2026 2 ## **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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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