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2022-12-31-accounts

Company Registration Number - 13080232

The Charity Registration Number is :- 1197520

SINCERE GIVING LTD

Report and Accounts

31 December 2022

SINCERE GIVING LTD

Report and accounts for the year ended 31 December 2022

Contents

Page
Charity information 1
Trustees' Annual Report 2-4
Independent Accountant's Report 5-6
Statement of Financial Activities 7-10
Balance sheet 11
Notes to the accounts 12-15

SINCERE GIVING LTD

Company Registration Number - 13080232

Trustees' Annual Report for the year ended 31 December 2022

The Trustees present their Report and Accounts for the year ended 31 December 2022, which also comprises the Directors' Report required by the Companies Act 2006.

Reference and administrative details

The charity name.

The legal name of the charity is:- SINCERE GIVING LTD

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1197520

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

The principal operating address, telephone number, email and web addresses of the charity are:-

105 Braintree Street

London E2 0FT

The registered office of the charity for Companies Act purposes is the same as the operating address shown above.

The Trustees in office on the date the report was approved were:-

James Ansar Ali Chairman

Mohammed Abu Khaled Trustee

The following persons served as Trustees during the year ended 31 December 2022 :-

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

James Ansar Ali Chairman

Mohammed Abu Khaled Trustee

1

SINCERE GIVING LTD

Company Registration Number - 13080232

Trustees' Annual Report for the year ended 31 December 2022

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

The company's/charity's objectives and regulations are regulated by the governing document adopted on 14 January 2022. Our charity Sincere Giving was formed to provide support and aid to Rohingya families living in internally displaced camps inside Myanmar Burma. Our campaigns focus on providing food packs, water, winter aid, community centres, schools and facilities for some of the most oppressed and destitute.

From the beginning we have provided food packs over the month of Ramadan and special Eid Gift packs which included both food and toys for children. We understand that displacement can have adverse effect on children and we aim to give them ease through gifts while helping build community centres and schools to empower them in the future.

The main activities undertaken in relation to those purposes during the year.

Our slogan is “Together for those in need” and this year we really saw everyone come together to help us at fundraising events that we held throughout the year which included family fun days, car washes and football tournaments. Our volunteers have been a core part of our fundraising organisation. We also came together to complete a 5km run through Victoria Park. One of the highlights from our volunteers was when we asked for people to help us organise food packs, it was amazing how many families and individuals came to help us.

The main activities undertaken during the year to further the charity's purpose for the public benefit.

Going forward we aim to provide more water wells, help even more families with food aid and start building a support network between our volunteers and people living in IDP camps. This will give the Rohingya people time to share their stories and help us inform more about what they’re going through. We also have some fundraising events planned, one of these will include a fundraising trek and we also want to do a fundraiser where some of our volunteers will be able experience what it’s like to live as an internally displaced refugee.

As we grow as a charity, we hope to not just provide financial and food aid to the Rohingya people but to also raise the awareness of their plight through videos, articles and infographics. To achieve this, we are building up our team of regular volunteers and securing a base for them to work from.

The degree to which the achievements and performance during the year have benefited wider society.

Funds raised were distributed via our charity partners who are on the ground in Myanmar. We helped build 6 water wells, provide food packs to over 500 families, build 2 community centres, fix 2 more community centres and we continue to help Rohingya families throughout the year by identifying what they need to help them restore their lives.

2

SINCERE GIVING LTD

Company Registration Number - 13080232

Trustees' Annual Report for the year ended 31 December 2022

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

The charity is organised with a committee (Board of Trustees) elected by the members to oversee the overall activities and one of the committee members is nominated as chairperson, to monitor the day to day running of the charity.

Bankers

Lloyds Bank, 210 Commercial Road, London, E1 2JR

Accountants Z.S.N Accountancy & Bookkeeping Services, 321 - 323 High Road, Romford, RM6 6AX

Financial review

The charity's financial position at the end of the year ended 31 December 2022

The financial position of the charity at 31 December 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Restricted Revenue Funds
Total Funds
Net income
Unrestricted Revenue Funds available for the general
purposes of the charity		 2022
£
1,971
3,428
1,216
4,644
 2021
£
2,673
1,067
1,606
2,673

Financial review of the position at the reporting date, 31 December 2022 .

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Policies on reserves.

It is the organisations policy to maintain a balance on unrestricted funds (if possible), to meet its short-term operational costs, to cover emergency situations that may arise from time to time.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfill its obligations in respect of each fund.

Details of The Independent Examiner

Nasir Ahmed Member of Association of Accounting Technicians Z.S.N Accountancy & Bookkeeping Services 321 - 323 High Road Romford Essex RM6 6AX

3

SINCERE GIVING LTD

Company Registration Number - 13080232

Trustees' Annual Report for the year ended 31 December 2022

Statement of the Directors' and Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

to presume that the charity will continue in business;

recommended practice have been followed, subject to any material

departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 7 to 10.

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 24 September 2023.

James Ansar Ali Director and Trustee

4

SINCERE GIVING LTD

Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 December 2022

I report to the Trustees on my examination of the financial statements of the charitable company on pages 7 to 15 for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 12.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described on page 2 to 4, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

Basis of Independent Examiner's Statement and scope of work undertaken

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

5

SINCERE GIVING LTD

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and 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 charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP).

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 financial statements to be reached.

Nasir Ahmed - Independent Examiner

Association of Accounting Technicians

Z.S.N Accountancy & Bookkeeping Services 321 - 323 High Road Romford Essex RM6 6AX

This report was signed on 24 September 2023

6

SINCERE GIVING LTD - Statement of Financial Activities for the year ended 31 December 2022

Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 December 2022, as required by the Companies Act 2006)

Income & Endowments from:
Donations & Legacies
A1
Expenditure on:
Charitable activities
B2
Governance and support expenses
B3
Total expenditure
B
Net income for the year
Net income after transfers
A-B-C
Reconciliation of funds:-
E
Total funds brought forward
Total funds carried forward
SORP
Ref
Net movement in funds		 Current year
Unrestricted
Funds
2022
£
7,854
5,883
 Current year
Restricted
Funds
2022
£
36,518
36,518
-		 Current year
Total Funds
2022
£
44,372
36,518
5,883
42,401
1,971
1,971
1,971
2,673
4,644		 Prior Year
Total Funds
2021
£
34,034
29,242
2,119
5,883 36,518 31,361
1,971 - 2,673
1,971 - 2,673
1,971
1,457		 -
1,216		 2,673
-
3,428 1,216 2,673

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

All activities derive from continuing operations

7

SINCERE GIVING LTD - Statement of Financial Activities for the year ended 31 December 2022

Income from:
Donations & Legacies
A1
Total income
A
Expenditure on:
Charitable activities
B2
Governance and support expenses
B3
Total expenditure
B
Net income for the year
Net income after transfers
Total funds brought forward
Total funds carried forward
SORP
Ref
Net movement in funds		 Prior Year
Unrestricted
Funds
2021
£
3,576

 Prior Year
Restricted
Funds
2021
£
30,458		 Prior Year
Total Funds
2021
£
34,034
34,034
29,242
2,119
31,361
2,673
2,673
2,673
-
3,576 30,458
-
2,119		 29,242
-
2,119 29,242
1,457 1,216
1,457 1,216
1,457
-		 1,216
-
1,457 1,216 2,673

The notes attached on pages 12 to 15 form an integral part of these accounts.

8

SINCERE GIVING LTD - Statement of Financial Activities for the year ended 31 December 2022

SINCERE GIVING LTD - Resources applied in the year ended 31 December 2022 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA
Net resources available to fund charitable activities		 2022
£
1,971
1,971		 2021
£
2,673
2,673

The notes attached on pages 12 to 15 form an integral part of these accounts.

9

SINCERE GIVING LTD - Statement of Financial Activities for the year ended 31 December 2022

SINCERE GIVING LTD

Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006

Income
Income from charitable activities
Gross income in the year before exceptional items
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Total expenditure in the year
Retained surplus for the financial year
Net income after tax in the financial year
Net income before tax in the financial year
Investment income		 2022
£
44,372
44,372
44,372
40,801
900
700
42,401
1,971
1,971
1,971		 2021
£
34,034
34,034
34,034
30,711
-
650
31,361
2,673
2,673
2,673

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 12 to 15 form an integral part of these accounts.

10

SINCERE GIVING LTD - Balance Sheet as at 31 December 2022

Notes
SORP
Ref
2022
£
Current assets
B
Cash at bank and in hand
B4
5,344
Creditors: amounts falling due within
one year
2
C1
(700)
Net current assets
4,644
The total net assets of the charity
4,644
Restricted funds
Restricted Revenue Funds
1,216
1,216
Unrestricted Revenue Funds
3,428
3,038
4,644
Designated Funds
Total charity funds
4,644
The total net assets of the charity are funded by the funds of the charity, as follows:-		 2021
£
3,373
(700)
2,673
2,673
1,606
1,606
1,067
1,067
2,673
2,673		 2021
£
3,373
(700)
2,673
2,673
1,606
1,606
1,067
1,067
2,673
2,673
1,606
2,673
1,606
1,067
2,673
1,067
2,673

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 6.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

James Ansar Ali Trustee

Approved by the board of trustees on 24 September 2023

The notes attached on pages 12 to 15 form an integral part of these accounts.

11

SINCERE GIVING LTD

Notes to the Accounts for the year ended 31 December 2022

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Risks and future assumptions

The charity is a public benefit entity.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of Income

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Allocating costs to activities

Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :-

Policies relating to assets, liabilities and provisions and other matters.

Creditors and provisions

If this applies , enter suitable text to comply with SORP 10.81. Describe the basis on which creditors and provisions for liabilities and charges are recognised and measured

No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.

12

SINCERE GIVING LTD

Notes to the Accounts for the year ended 31 December 2022

2 Creditors: amounts falling due within one year
Accruals
3 Income and Expenditure account summary
At 1 January 2022
Surplus after tax for the year
At 31 December 2022		 2022
£
700		 2021
£
700
2022
£
2,673
1,971		 2021
£
-
2,673
4,644 2,673

4 No related party transactions

There were no material transactions with the trustees during the year.

5 Ultimate controlling party

The charity is under the control of its legal members.

For companies ltd by guarantee (modify as appropriate or delete text to autohide if not applicable) - Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

13

SINCERE GIVING LTD

Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

6
Donations and Legacies
Donations and gifts from individuals
Total Donations and Legacies
A1
Total donations and gifts from individuals
General Donations		 Current year
Unrestricted
Funds
2022
£
7,854		 Current year
Restricted
Funds
2022
£
36,518
36,518
36,518		 Current year
Total Funds
2022
£
44,372
44,372
44,372		 Prior Year
Total Funds
2021
£
34,034
7,854 34,034
7,854 34,034

7 Expenditure on charitable activities - Direct spending

Total direct spending
B2b
Marketing and advertising of charitable services
Travel and Subsistence - Charitable Activities
Rohingya
Sri Lanka Project
Raising funds
Events & Campaigns		 Current year
Unrestricted
Funds
2022
£
154
500
-
-
-		 Current year
Restricted
Funds
2022
£
-
-
35,181
350
-
987
36,518		 Current year
Total Funds
2022
£
154
500
35,181
350
-
987
37,172		 Prior Year
Total Funds
2021
£
-
390
18,150
-
5,500
5,202
654 29,242

14

SINCERE GIVING LTD

Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015

8
Premises Expenses
Administrative overheads
Professional fees
Financial costs
Support costs before reallocation
Total support costs
Telephone, fax and internet
Insurance
Depreciation & Amortisation in total for the period
Donations
Stationery and printing
Support costs for charitable activities
Premises repairs, renewals and maintenance
Motor Expenses
Fines & Penalties
Bank charges		 Current year
Unrestricted
Funds
2022
£
433
144
120
284
1,381
150
250
405
462
900		 Current year
Restricted
Funds
2022
£
-
-
-
-
-
-
-
-
-
-		 Current year
Total Funds
2022
£
433
144
120
284
1,381
150
250
405
462
900		 Prior Year
Total Funds
2021
£
205
144
50
137
454
-
50
50
379
-
4,529 -
-		 4,529
4,529		 1,469
4,529 1,469

The basis of allocation of costs between activities is described under accounting policies

9 Other Expenditure - Governance costs

Accountancy fees
Total Governance costs		 Current year
Unrestricted
Funds
2022
£
700		 Current year
Restricted
Funds
2022
£
-
-		 Current year
Total Funds
2022
£
700
700		 Prior Year
Total Funds
2021
£
650
700 650

15