Trustees’ Annual Report and Accounts
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07 October 2022 to 30 September 2023
Charity Number: 1200609
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Contents
| Reference and Administration Details …………………………………………………………… | 3 |
|---|---|
| Trustees’ Report …………………………………………………………………………………… | 4 |
| Statement of Financial Activities ………………………………………………………………… | 6 |
| Balance Sheet ……………………………………………………………………………………... | 7 |
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Reference and Administration Details
Charity Name: Nadiya Charity Number: 1200609 Registered Address: Unit 3 Old Dalby Trading Estate Old Dalby Leicestershire LE14 3NJ Trustees: Ms Vanessa Hodgson Mr Jiri Horalek Ms Anna Merchuk (appointed 08 June 2023) Ms Nadiia Savchenko (appointed 08 June 2023) Bank: Metro Bank One Southampton Row London WC1B 5HA
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Introduction
The Trustees present their annual report together with the financial statements of the charity for the year ended 30 September 2023.
The financial statements have been prepared in line with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom (FRS102) (effective 01 January 2019) as detailed in the accounting policies.
Structure, Governance, and Management
Nadiya (“the Charity”) was registered as a charitable incorporated organisation on 07 October 2022.
Trustees are appointed by the Board of Trustees and meet four times a year to deal with the governance of the Charity. The induction process for newly appointed Trustees comprises an initial meeting with the Trustees to brief them on their legal obligations under charity law, the decisionmaking processes of the Charity, and its policies and procedures. Moreover, Trustees are provided with a handbook which delineates wider information regarding the Charity’s operation.
Risk Management
The Trustees have examined the major strategic, business, and operational risks which the Charity faces, and confirm that systems have been established to ensure regular reports are produced for Trustees to ensure all necessary actions are taken to lessen and mitigate any posed risks.
Public Benefit
The Trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit.
Objectives and Activities
The principal objective of the Charity is to provide relied for refugees and their dependants who are in conditions of need, hardship or distress, who have become displaced from the countries of their origin or domicile by reason of hostilities, persecution, oppression, discrimination, natural disasters of other like causes, by providing, directly or indirectly: financial and/or practical aid; accommodation; information and advice.
Achievements and Performance
Since the onset of the conflict between Russia and Ukraine, Nadiya has played a pivotal role in supporting those affected. We have assisted over 800 individuals with visa applications and sponsorships. Early on, we recognized the looming housing crisis that would emerge as these sponsorships concluded, whether due to relationship breakdowns, hosts needing their homes back, or Ukrainians seeking greater independence.
From April 2023 to July 2024, we successfully secured housing in the private rental sector for approximately 270 families, almost 700 individuals. While the majority of these families are from
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Ukraine, we have also supported individuals from Afghanistan, Syria, Iran, Sudan, Sierra Leone, and Venezuela. Additionally, we have provided housing to two British families.
Beyond housing, Nadiya has been instrumental in delivering aid. We have supported around 50 aid convoys, facilitated the donation of over 100 vehicles to Ukraine, and acquired and donated rescue boats and ambulances.
Fundraising
The Charity did not apply for any grants or make any concerted fundraising effort as existing funds allowed for the effective operation of the Charity. However, as we intend to engage in fundraising in the future, the Charity has voluntarily registered with the Fundraising Regulator.
Financial Review
A small level of income was derived during this period.
Reserves Policy
The Charity recognises the importance of maintaining a sufficient reserve to bridge the gap between the spending and receiving of income and to cover emergency expenditure. The Trustees consider that the ideal level of reserves as at 30 September 2023 is £20,000, however the figure is expected to rise considerably as the Charity experiences growth.
Plans for Future Periods
Our future vision is to become one of the largest housing charities in the UK by 2027. Our mission is to assist refugees of all nationalities in securing safe, affordable, and suitable accommodation in locations of their choosing. We are committed to ensuring that people are not relocated to different areas purely due to financial constraints.
We firmly believe that those displaced by war, famine, drought, or other crises need stability in their new lives. Continuity is vital - being able to stay in familiar neighbourhoods, form friendships, find employment, and maintain their children's education and social connections is the crucial first step in this journey.
Our unique approach to housing refugees, many of whom face challenges such as low incomes, lack of UK credit history, limited leave to remain, and other barriers to finding a home, sets us apart from others. By collaborating with other charities and NGOs, as well as local and central government, we believe our vision can become a reality.
Approval
This report was approved by the Board of Trustees on 11 July 2023 and signed on its behalf by:
Anna Merchuk Chair of Trustees
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Statement of Financial Activities
For the year ended 30 September 2023
| Year End 30/09/2023 £ |
||
|---|---|---|
| Income from: | ||
| Donations and legacies | 53,838.23 | |
| Charitable activities | 0.00 | |
| Grants and contracts | 0.00 | |
| Other tradingactivities | 0.00 | |
| Investments | 0.00 | |
| Total Income | 53,838.23 | |
| Expenditure on: | ||
| Raisingfunds | 0.00 | |
| Charitable activities | 78,328.46 | |
| Operation of the charity | 39,968.70 | |
| Total Expenditure | (118,297.16) | |
| Net income/(expenditure) | (64,458.93) | |
| Net income/(expenditure) and net movement of funds | (64,458.93) | |
| Reconciliation of funds: | ||
| Total funds brought forward | 0.00 | |
| Total funds carried forward | (64,458.93) | |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Balance Sheet
As at 30 September 2023
| Year End 30/09/2023 £ |
||
|---|---|---|
| Fixed assets: | ||
| Tangible assets | 0.00 | |
| Total fixed assets | ||
| Current assets: | ||
| Debtors | 28,334.64 | |
| Cash at bank and in hand | 191,042.75 | |
| Total current assets | 219,377.39 | |
| Creditors | 283,836.32 | |
| Net current assets | (64,458.93) | |
| Total assets less current liabilities | (64,458.93) | |
| Total net assets or liabilities | (64,458.93) | |
| Funds of the charity | ||
| Total funds | (64,458.93) | |
These statements were approved by the board on 11 July 2024 and are signed on its behalf by:
Anna Merchuk Chair of Trustees
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