Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 ## **Trustees’ Annual Report for the period** **From 01/04/2024 Period start date To 31/03/2025 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 main activity of the foundation in the
reporting period was the primary purpose
trading in the form of selling prints to
support the charity’s mission of supporting
emerging storytellers in Morocco. This has
been carried out mainly via our 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| Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 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. Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 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 Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 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 Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 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|During the reporting period, the main
activities related to the collection of funds
to support emerging storytellers. For the
period, we started supporting 2
photographers in Morocco but no grants
have been paid out| ## **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 EnvelopÈ ID". 75BAD076-731442Dtk8454-D777C9C439F8 Other Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|At the end of the financial period, the
foundation had a net cash positive balance
of £10,756.15| |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|£10,756.15| |Reasons for holding zero
reserves|Para 1.22|| |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||| Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 ## **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 5
93 LINDENG GARDENS
LONDON
W2 4EX| ||| Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 ## **Names of the charity trustees who manage the charity** |1
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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 (if any)**| |---|---|---|---|---| ||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** Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 ## **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** Docusign Envelope ID: 75BAD076-7314-42DD-8454-D777C9C439F8 ## **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)**
**Position (eg Secretary,**
**Chair, etc) **
**Date**|||| |---|---|---|---| ||Adrian Radzyminski|Daire Collins|Rhys Lewis| ||
Trustee|Trustee|Trustee| ||||| ||02/02/2026|02/02/2026|02/02/2026| **Charity Name Sincerely Receipts and payments accounts CC16a For the period** 04/01/2024 3/31/2025 **To from** ## **Section A Receipts and payments** |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**
30
118
350
**-**
**-**
**-**
**-**
**-**
**498**
**-**
**-**
**-**
**498**
96
524
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**619**
**-**
**-**
**-**
**619**
**- 121**
**-**
**10,877**
**10,756**|**Restricted**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Endowment**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Total funds**
**to the nearest £**
**30**
**118**
**350**
**-**
**-**
**-**
**-**
**-**
**498**
**-**
**-**
**-**
**498**
**96**
**524**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**619**
**-**
**-**
**-**
**619**

**- 121**|**Total funds**
**to the nearest £**
**30**
**118**
**350**
**-**
**-**
**-**
**-**
**-**
**498**
**-**
**-**
**-**
**498**
**96**
**524**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**619**
**-**
**-**
**-**
**619**

**- 121**|**Last year**
**to the nearest £**| |---|---|---|---|---|---|---| |Invoice 1|30
118
350|||||**-**| |Invoice 2||||||**-**| |Invoice 3||||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| |**_Sub total_**_(Gross income for_
_AR)_|**498**|||||**-**| |||||||| |**A2 Asset and investment sales,**
**(see table).**||||||| ||**-**|||||| ||**-**|||||**-**| |~~**_Sub total_**~~|**-**|||||**-**| |**_Total receipts_ **
**A3 Payments**||||||| |||||||**-**| |||||||| |Carmencita|96
524|||||**-**| |Carmencita||||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| ||**-**|||||**-**| |**_Sub total_ **|**619**|||||**-**| |||||||| |**A4 Asset and investment**
**purchases, (see table)**||||||| ||**-**|||||| ||**-**|||||| |**_Sub total_ **|**-**|||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**||||||| |||||||**-**| |||||||| ||**- 121**|**-**|**-**|
**- 121**||**-**| ||**-**|**-**|**-**|**-**||**-**| ||**10,877**|**-**|**-**|**10,877**||**-**| ||**10,756**|**-**|**-**|**10,756**||**-**| CCXX R1 accounts (SS) 04/03/2026 1 |**Section B Statement of assets and liabilities at the end of the period**|**Section B Statement of assets and liabilities at the end of the period**|**Section B Statement of assets and liabilities at the end of the period**|| |---|---|---|---| |**Categories**
Signed by one or two trustees on
behalf of all the trustees
**B5 Liabilities**
**B3 Investment assets**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B1 Cash funds**|**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
**Details**
**Details**
**Details**
Signature|**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**10,756**
**-**
OK
OK
**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
Adrian Radzyminski|**Endowment**
**funds**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||OK| ||||**Endowment**
**funds**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of
approval| |||Adrian Radzyminski|04/03/26| ||||| CCXX R2 accounts (SS) 04/03/2026 2