2023-03-31-accounts - Sincerely Foundation

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Trustees’ Annual Report for the period

From 08/08/2022 Period start date To 31/03/2023 Period end date

Charity name: SINCERELY FOUNDATION

Charity registration number: 1199992

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 the prevention or relief of poverty in the Tendrara region of Morocco by providing grants, items and services to individuals in need and/or charities or other organisations working to prevent or relieve poverty.
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	The foundation was only set up in late calendar year 2022 with no operational activity during the fiscal year 2023, apart from planning for fiscal year 2024 activities. This mainly pertains to the setting up of the Sincerely Foundation website (https://www.sincerely-foundation.org/)and the Sincerely Storyteller Fellowship, which includes a grant to support Moroccan photographers.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	This is confirmed.

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

	SORP reference
Policy on grant making	Para 1.38	1. About this policy 1.1 The charitable objects of the Charity are to further such purposes which are exclusively charitable within the laws of England and Wales as may be determined from time to time by the charity trustees. (the Objects). 1.2 The Charity is governed by its charity trustees (the Charity Trustees) who have a duty, acting at all times in the best interests of the Charity, to apply the Charity's assets to advance the Objects and

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have ultimate responsibility for all grantmaking decisions. 1.3 The purpose of this policy is to set out the principles and procedures that guide the Charity Trustees when they are making grants to further the Objects. 2. Our funding priorities 2.1 The Charity Trustees are keen to support activities that advance the Objects in an effective way. However, they recognise that a limited amount of funds is available to distribute each year. The Charity Trustees wish [primarily] to support people in need living in Eastern Morocco, in particular in the region of Tendrara. Having identified specific needs, the Charity Trustees’ initial funding priorities are as follows:(a) the provision of food and clothing to the needy and the relief of other humanitarian needs; (b) the advancement of education in practical skills such as agriculture; and (c) specific projects aimed at helping people to become economically independent. 2.2 The Charity Trustees will occasionally award grants that fall outside the priorities stated in this policy, provided that they are satisfied that the grant will further the Objects and is an appropriate use of the Charity's funds. 2.3 The Charity Trustees will review the grant-making priorities and principles set out in this policy on at least an annual basis. 3. What we will fund 3.1 The Charity Trustees generally anticipate making grants of between £[100] and £[10,000]. 3.2 All grants awarded by the Charity must be used to cover costs that are directly connected to carrying out the charitable activities that the Charity Trustees have agreed to fund where this has been specified. 4. How we make decisions about grants 4.1 The Charity Trustees have ultimate responsibility for all grant-making decisions and for ensuring that all funds awarded are used to advance the Objects.

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4.2 The Charity Trustees will primarily make grants to other organisations. These will usually be charities, but grants could be made to other not-for-profit organisations if those organisations are 2 able to satisfy the Charity Trustees (a) that the grant will be used for exclusively charitable purposes and (b) that they have a good and robust governance structure in place. The Charity Trustees are also open to the possibility of making grants to individuals in need, provided that the Charity Trustees are satisfied that this is appropriate in all the circumstances. [Grants to individuals are likely in practice to be much lower than grants to organisations.] 4.3 The Charity Trustees must declare and then consider the nature and extent of any interest, direct or indirect, which could, or could be seen to, prevent them from making a grant decision only in the best interests of the Charity. Situations in which a conflict of interest may arise include where: (a) a Charity Trustee (or a person connected to them) stands to benefit from a grant from the Charity; or (b) a Charity Trustee has a duty of loyalty to a third party that conflicts with their duty to the Charity. Any such conflict of interest must be declared and managed by the Charity Trustees in accordance with the Charity's conflicts of interest policy. 4.4 In all cases where a recommendation is made to them to award a grant, the Charity Trustees may (in their absolute discretion) refuse to approve that recommendation, particularly if they consider that a grant would not be an effective way to further the Objects or would conflict with the Charity's policies or interests. 4.5 The Charity Trustees' decision whether to award a grant is final. 5. Due diligence

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When the Charity Trustees are considering whether to make a grant to a particular organisation they will undertake such checks as are appropriate, having regard to the amount of the proposed grant, the reputation of the proposed organisation, the nature of the charitable work that they wish to fund and such other factors as seem to the Charity Trustees to be relevant to the particular circumstances. This may include, where considered necessary or appropriate, meeting with the trustees of the proposed recipient organisation in order better to understand the workings of the organisation in question. Equally, when considering whether to make a grant to a particular individual the Charity Trustees will undertake such checks as are appropriate in relation to the identity and needs of that individual. 6. Reporting requirements and monitoring The Charity Trustees reserve the right to take steps where considered appropriate to monitor the use of the grant and verify that the grant is used for the purposes that have been agreed where a specific purpose has been specified. The arrangements for monitoring will vary according to the nature of the grant, but the Charity Trustees will always seek to ensure that the arrangements are proportionate. 7. Clawback and repayment The Charity Trustees may require repayment of all or any part of a grant if: (a) the project or purpose for which it was awarded does not proceed; (b) part of the grant remains unused when the activities that the grant was intended to fund have been completed; or (c) the grant is used for a purpose other than that which has been agreed. 3 8. Reviewing and amending this policy 8.1 This policy will be reviewed by the Charity Trustees at least annually. 8.2 The Charity Trustees may vary the terms of this policy from time to time. Para 1.38

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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 benefits to society as a whole.	Para 1.20	The foundation was only set up in late calendar year 2022 with no operational activity during the fiscal year 2023, apart from planning for fiscal year 2024 activities.

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

Docusign En¥ÈlopÈ ID". 97A4113B-2B344185-8EEF-F8333901B1FD Other

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Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The foundation was only set up in late calendar year 2022 with no operational activity during the fiscal year 2023, apart from planning for fiscal year 2024 activities, hence there has been no funds held by the foundation at the end of the fiscal period.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Financial reserves will be held in a bank account with the purpose of extending the goals of the foundation.
Amount of reserves held	Para 1.22	Zero
Reasons for holding zero reserves	Para 1.22	The foundation was only set up in late calendar year 2022 with no operational activity during the fiscal year 2023, apart from planning for fiscal year 2024 activities, hence there has been no funds held by the foundation at the end of the fiscal period..
Details of fund materially in deficit	Para 1.24	Not applicable.
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Not applicable.

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
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

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Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Trust deed
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	Further trustees are appointed unlisted by vote.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other

Reference and Administrative details

Charity name	SINCERELY FOUNDATION
Other name the charity uses
Registered charity number	1199992
Charity’s principal address	FLAT 7 17 BRYANSTON SQUARE LONDON W1H 2DP

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Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Name of person (or body) entitled to appoint trustee (ifany)
Adrian Radzyminski	n/a	SINCERELY FOUNDATION
Daire Collins	n/a	SINCERELY FOUNDATION
Rhys Lewis	n/a	SINCERELY FOUNDATION

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

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

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Funds held as custodian trustees on behalf of others

Description of the assets Not applicable. held in this capacity Name and objects of the Not applicable. charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for Not applicable. safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address




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

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Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees



Adrian Radzyminski	Daire Collins	Rhys Lewis
Trustee	Trustee	Trustee

12/05/2024	12/05/2024	12/05/2024