Company Reglstered Number: 14017708 Charlty Reglstorgd Numb8r: 1204378 MADANIYA (PREVIOUSLY CIVIL SOCIETY NETWORK) (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
MADANIYA IA Company Llmlt•d by Guarantee) CONTENTS Page Reference and Administrative Detsils of the Charlty. its Trustees and Advisers Trustees. R•port Statement of Trustees. Responsibiliti Independent Examlnevs Report Statement of Financial ActIvleS Balance Sheet 10 statement of Cash Flows Notes to the Financial Statements 12-21
MADANIYA IA Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Truslees Ayman Asfari. Chair Amneh Khoulani. Wice Chair Fadi Dayoub. Treasurer Samer ChaMPaSha Ibrahim Olabi Cornpany reglstered nurnbor 14017708 Charlty reglsterad number 1204378 Regl$ter•d office Unit A, 1-3 Canfield Place London United Kingdom NW6 38T Chtef executlve offlcer Sawsan Abou Zainedin Independent Examlner MHA 6th Floor 2 London Wall Place London. Uniled King(hJn EC2Y SAU SollGltors BDB Pitmans LLP One Bartholomew Ck)se London. United KIr0M EC1A 7BL Pag8 1
MADANIYA IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Chalrfs Introduction On behalf of the Board of Trustees. The Chair presents the Annual Report for Madaniya for the year ended 31 December 2023. Oblectives and Adivitigs Charitable Objectives: The advancement of human rights (as set out in the universal declaration of human rights and subsequent nations convents'ons and declarations), for the wbli¢ benefit in relation lo Syria, including but not exdusivdy by.. raising the public's awareness of human rights issues.. and conducting intemalional advcKacy of human lights. The promolDn of the effective use ol res(rCeS for charitable purposes in relation to those affected by war and conflict in Syria (who aro inside Ihe country orwho have been displaced), in partiuJlar by running a network which will= c(kordinate with civil society organisalions that have the common goal of providing charttable seNices or rdief.. act as a forum for the exthange of Infom7 betsveen CIV wiety organisations in order to idenltfy gaps ii) the range of charitable servKes available., represent a range of views to policy makers and funders- and provtde advice and inforynation to civil society organisab'ons. AltIeS. Madaniya's charitable objectiv&s are der¢ved from its vision of an inclusive, deMratie. and sovereign Syria. where all citizens are equal under the rule of law. These obiectNes are entrenched in its mission lo protect civic space and support the pioneerng role of civil SoCty in buihdiThJ Syria's fvture. Madaniya advances this mission by-. A. Mobilising Syrian civil 4ociety organisats.ons inside and outsKJe Syria around a shared sgt of rights-based values lo organise wrthin a untfyiry civic space that transcends divisions and enhances a sense of belonging and ownership. B. Capilalising on the collective resources. capacities, knedge, and political influence of Syrian civic octors, Madaniya works to ensure a leading TO for syrIar In Syria-relaled decision-making pro$Se$ on the local, regional, and intematsonal levels. 11 elevates the presence of Syrian civic actors and introduces them as key interlocLrtors for intemational policymakers and genuine counterparts in decislon- making plattomis relate.d lo Syria. C. Internally, Madaniya strives lo increase Ihe efficiency of civic work related to Syria by supporting member organisalions to imprn'e their institutnal capaciiies and stimulating an inducive work environment that protects uvic actors. This environment allows them lo efFiaenYy navigate the intemalional assistance landscape and encourages their crthination and collatrr8ti0n to ertsure complernentarity and ntersectiorsality, reducing IndNiduality and speculation. Public Bonefrt: The Trustees have comFdied with their duty to have due regard io the public benefit guidance published by the Charty Commission. Page 2
MADANIYA IA company 11m1t by guaranl•e> TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and Perforniance , On the moblllsatlon front Madaniya organised seven inyrson and virbjal mobili&ilion meetings in 2023 to recruit member organisations that believe in ils vision, missiw, and valLtes. These meetings tsrgeted over 250 Syrian ryvil society organlsations inside Syria's different geowlitical dNisions. as well as in neighbouring countries and the di8spora. The organisations included grassroots and comniunty-based organisalions, unions and syndicates. cultLtral and profession81 associations, victims. associations, research centres and think tanks, media ouuets. as well as humanitarian and hLsman rights NGOS. By the end of 2023, over 200 organisations offiallYI01ned Madaniya and actively participated in its activities, achieving 1350A of Madaniya's mobilisation target for 2023. & On prgsanting Syrfans as ¢ountsrparts Madaniya organised a large inaugural conference in June 2023 in Paris. bringing together over 200 Syrian civic actors representing 170 organisations from Syria's uvic space. which encompasses a wide range of sectors and geographical areas, bolh insKle and outside the country. The conference was attended by more than 100 distinguished guests, including diplomats representiry the European Union, United Kingdom, France, Germany, the Nelherfands. Italy. Austria, slZErtarKl. the United Stsles, Canada, Turkey. and Qalar. Representativos from the Office of the UN Special Envoy for Syria. the STn Negotiation Committee. and influential international and Syrian leader5 and decision-makers from intemational noTrgov8mmental organisations and think tank5 fooused on Syrian affairs also took part in the Conference. On the first day of the conference. Syrian civic actors convened in nine workkng groups to engage in fruitful discussions about the prospects of our collecb've work under the Madaniya umbrella. These groups explored the priorlties of civic work in Syrfa In the short. medium, and long terms, identifying opportunities for collaboration to advance solutions. On the second day. we welcx)med our guests and presented four panel discussions that delved into the concept of reclaiming the political agency of the Syrian civic space across the justice and accountability, relief and development, and pcAtbeal tracks conceming the future of Syria. We explored the roles IhroLKJh which civic actors can inlluence these tracks, o)ntributing to shaping the future of Syria based on our shared values. Madaniya fvrther organised an international engagement pr(xJramme tsrgeting seven key capitals in decisio making related lo Syria. These included London, Washington DC. Brussels. Bedin. Istanbul, Rome. and Alhens. Throughout these meetings. Madaniya met with minislers, ambassadors. and special envoys working on Syria. Some meetings were organised as roundtatAe discussions where representstives of Syrian elvil society organisatsons rnet with senior decision-maker5 and their technical teams. whereas others weia organised as ong- on-one meetings with Selective smallei groups of attendees. In additson to these vis((s. th8 programme included two meetings in Geneva with the UN offi of the Special Envoy to Syria and the Syrian Negotiation Committae. C. On Increasing the offlclency of the clvlc space Based on the analysis of detailed notes from the inaugural conference dis¢ussions on day one, Madaniya identified actionable entry points Ihat shad its Working plan for the next year. Madaniya conducted a series of meetings with member organisations lo discuss and revise th plan accordingly. Consequenly, four virtual working groups for rnemr organisations were established, focusing on the protectic*) of the civic space. the rebuilding of its value-based common ground, its accountability to local communTties. and its relation to Intemational decision-makers. Pa98 3
MADANIYA IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Madaniya further planned a series of meetsngs to discuss its internal bOaws. which set out the terms of en9agem8nt for rts Injstees. executive team. and network of civil society organis8tK)ns. The bWaws also include the terms for establishing a n.)n-legal. noTrgoveming board of directors. of which trustees are members. This board sets out the strategic plans of Madanrya and operates through sub-committees. It is comprised of individuals elected peri(xlicall"I by member organisations in their individual capacities lo ensure consistency betsveen the aspiratlons of member organisations and the strat8gic direction ol Madaniya. Interconnectgd examples Throughout the year, Madaniya erKleavoured to create synergies around shared activi118s and capi181ised on cdlective resources lo foster solidarity among member organisations during significant events. These synergies were most notably realised fc4',owing the earthquakes in Syria and Turkrye on 6 February 2023. In the absence of a legitimate and credible gcvemment lo represent Syrians during this crisis, Madaniya mobilised Syrian civil society organisations in the diaspor8 lo establish the Syria House in London and host high-level diplomatic visits. The Syria House served as a temporary community spa. opening following a special event on Tuesday, 14 February, attended by His Majèsty King Charles 111 and the Mayor of London, Sadiq Khan. The space was then open lo the public for three das's. inwting people to c4)mmemorate Syrtan earthquake victims and show solidarity with the families of those still missing. The House received vistts from the then UK Foreign Secretary, James Cleverfy,. Shadow Foreign Secretary DavFd Lammy. Leader of Westminster City Council Adam Hug,. Foimer UK Envoy lo Syria Jonathan Hargreaves: Interim Syria Special Envoy Charles King,. and other members ofthe FCDO team and govemmenl officials. Another significant example was Ihe"Everyday Counts- Campaign. facilitated by Madaniya in relation lo the case of torture against the Syrian regime at the International Court of Justice (ICJ). On 10 October 2023, a major milestone was reached as the ICJ commenced its first hearing in the case broijght by Canada and the Nelhedands against the Syrian regime. This achievement w85 the f8suII of tremendous, dedicated efforts led by Syrian human rights organisations and wctims. associations. Madaniya collaborated with prominent Syrian orgsnisations and victims. groLPS lo build momentum around the caso. share information about its legal basis, and raise awareness of its sigrificanee. Addtbonalty, Madaniya W0ed to activate a solidarity system to efi5ure the participation of victtms. suryivors, and their loved ones in and around the court's events. The aim was lo advocate for justice. seek ansv*ers regarding the fate of disappeared loved ones. and assert lo the worfd that the Assad regime stands accused of heinous acts of murder and torture. Financlal Review Rovlew of Flnanclal Position: Madaniy8'S tot31 income in 2023 amounted to £0.57 rn110n, received in unresiricled grants from the Asfari Foundation. The funds were processed directly by the A5fari Foundation, as Madansya did not have 8 bank account in 2023. As of 31 December 2023, Madaniya had spenl £0.52 million of these funds. The Asfari Foundation carried foFward the remaining balance of £0.05 million lo January 2024 on behalf of M8daniya. Total expenditure on charitable activi:.ies for 2023 was £0.35 million. while operational expendiluro amounted lo £0. 17 million, covering foundational sel up costs as well as leam arKI technical advisors fee5 and salaries. Madaniya did not perform any rundraising aclrvib.es in 2023. AddOnallY. Madaniya has no invoslments and is not a grant making entity. Therefore, Madaniya has no wliaes ¢or>ceming investments. 01 grant making. Madaniy8 doesn't have a formal reserves policy yet but is in the process of devoioping one. Page 4
MADANIYA (A company Ilmited by guarant90) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Prfnclpal Rlsks and Uncertalntles: The lack of a bank account W8S the m8jor challenge faced by Madaniya in 2023. It reslricled its fundraising activities and plans. As a company limited by warantee, Madaniya submitted application5 for bank accounts with several high-street and online banks, but made litue progress. The overcompliance environment of banks regarding conflict-ridden and highly sanctioned countries like Sla significantty contributed to this challenge. Tho grant agreements with the Asfari Foundation included a hosbng arrangement that allowed them lo process payments on Madaniya's behalf. providing a tempyary sdubon. Having been registered as a charity in August 2023, Madaniya will resume appllcations to a number of high-street and online banks, hoping to obtain a bank accoynt by the end of 2024. Financial risks related lo breaching regulations concerning sanctiorss and terrorism are well understood by the trustees and Senior management of Madaniya. To mibgate these risks. Madaniya sought assistance from the Asfari Foundation. which exlended its experience and infraStruCre to SUPFX)rt Madaniya's due diligence efforts, polieies, and rffa¢tices. Plans for the Future Honouring its chérstate objectives. M&Janrya wll continue its activilies centred on mobilising Syrian civil society org8nisations, introducing them as nterpartS to international decision-makers, and leveraging their collective resources to enhance the effiaency and capacity of the Syrian cswc space. Projects and programmes to meel these obltiVeS will be designed in consultation with member organisalions and advisory groups. Meetings lo discuss Madaniya's bylaws with member organisations will be conducted throughout 2024, with the first declions for one third of the non%oveming board of directors planned for the second half of the year. Addtbonally, Madaniya will work with its member organisatsons to fom)alise a financial model in which organisations can vduntsrily CtribUte to Madaniya's budget on an annual basis. Structure. Governance and Management The goveming document of Madaniya is the Constitution, which indudes ils Memorandum and A.eS of AS$i8t10n. incorporated on 01 April 2022. and amended by the certtficate of incorporation on change of name and objectives, dated 10 August 2023. Madaniya's ci)nslitulion stipulates a minimum of three Twstees. cUrreny. Madaniya has five trustees who also act as Directors for the purwses of company law. Trtjstees are selected bas1 on their expertise and capabilikn.es to ensure effectlve govemance that meets legal and ethical slaTrdards. New Trustees participate in several meetings wÉth Madaniya's fom)er Tfustees and senior management lo lully understand their duties towards Madaniya. The Key Managemenl Personnel of Madaniya &SIst of ts Trustees and the Chief Ex8cu14ve Officer (CEO). Trustees volunteer tsir lime and receive no remuneration. The CEO'S remuneration is delerniined and approved by the Iruslees, in line wtth sector slandards. In addition to its Trustees. Madaniya has a non-legal. non-goveming board of Directors. of which the TrtJstee8 are members. The power of this Board of Directors is delegated by the Trustees lo sel the strategic plans of Madaniya. The Board of Directors acknowledges that the trustees retain full eontrol and legal responsibilty and will not usurp the general docision-making authority of the trustees by making decisions without appropriate authority. The board of directors understsnds that any decisions it makes that contradict the legal responsibilities of the trustees are null and v(id. Page S
MADANIYA IA company Ilmited by guaranlge) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Members of the 8oard of Directors eontribute their time on a voluntsry basis and thus do not receive any rèmuneration. They work thrwgh sutKommittees and meot periodically to ensvr8 the 8fficienl Strategic management of Madaniya. In 2023, members of Madaniya's Board of Directors were selected by the Trustees for their skills and abilities. Gcing forward, members will be nominaled and elected periodi¢ally by Madaniy8'9 memberorganisations. Board members serve in their individual capacities and do not repre9enl the organisations that nominated or elected them. In addition to its Trustees and Board of Directors. Majansya operates a nelwork conslgting of Syrian uvil society organisalions. Membership in this neork is contracluaj. not legal, and therefore does not confer any formal conslitub'onal roles. Madaniya engages with these member organisations through regular meetings to gauge views about the strategic direction of Madanrya and to involve tt79m in the periodic elections of the Board of Directors. On 16 August 2023 the company became a registered chanty and therefore fom)ally adopted the Chartties Statement of Recommended Practice applicable lo charrties preparing their accounts in aCC[danCe with the Financial Reporting Standard appl¢cable in the UK and Republic of Ireland. As a result, the comparalive figures in the financial slalements have been reststed in order lo comply with this accounting standard. This report was approved and authorised for issue by the Trustees and signed on its behalf by: Ayman A$farf Chair Date: z?1 qJL¢I Pag& 6
MADANIYA IA Company Llmlted by Guarantee) STATEMENT OF TRUSTEES. RESPONSIBILlEs FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees (who are also the Directors of the Charity for Ihe puOSe$ of company18wI ar8 responsible for preparsng the Tnjslees. ReFN)rt and the financial statements in acc4)rdance with applica& law and United lfjngdom Accounting Standards Iunited Kingdom Genwaly Accopted AcwuntFng Practice). Company law requires the Trustees to prepare financial statements for each financk41 year. Un(ler company law, the Trustees must not approve the financial stalements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including rts income and expenditure. for that period. In preparing these financial statements, Ihe Trustees are required to.. select suitable accounting poliues and then apFAy them cSiSten, observe the methods and Princi9$ of the Charities SORP (FRS 102).. make judgements and acccMJntirKJ estimates that are reasonable and prudent.. stste whether apICable UK Accountin9 Standards IFRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements,. prepare the finanGial statements the goiTrJ concem basis unless tl is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accountsng records that are sufficient lo show and explain the Charitys transactions and disck)se Trmth reasonable accuracy at any time the financial posfÉion of the Charity and enable them lo ensure that the financial statements compty with the Companies Act 2006. They are also responsible lor safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detect of fraud and other legUlatieS. Approved by order of the Members of the Board of Trust and signed on its behalf by. Ayman Asfari Chair Date: 2•1qll Page 7
MADANIYA IA Company Limited by Guaranto•1 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 310ECEMBER 2023 Indendnt Examinerfs Report to the Truslees of Madanrya Ilhe Charft I report lo the Charty Trustees on my exam#iation of the accounts of the Charity for the year ended 31 Oecember 2023. Responsibilities and Basis of Report As the Trustees of the Charity {and its Directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance wth the requirements of Ihe Companies Act 2006 Ilhe 2006 ACVI. Hawng satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are elwJible fof ifKlependent examination. I report in respect of my exarnination of the Charitys accounts carried out under section 145 ,)f the Charities Act 2011 ('the 2011 Acri- In carrwng out my examination I have followed the Directions gwen bj the Charity CoMmissn under Secti 14515)(b) of the 2011 Act. Independent Examlnerfs Statem•nt Slnce the Charitys gross income exceeded £250,000 yi)ur examiner must a membgr of a body listed in section 145 of the 2011 Act. I nfirrn that l am qualrfied to undertake the examination because l am a member of Institute of Chartered Aceountanls in England and Wales, vthich is one of the listed LKxlies. I have completed my examinatjon. I confim that no matters have me to my attention In connection with the examination giving me cause to believe: accounting records were iot kept in respect of the Charity as required by seclion 386 of the 2006 Act" or the accounts do not accord with those re¢ds. or the accounts do not comply wtth the accountiThJ requirements of section 396 of the 2CNJ6 Act other than any requirement that the accounts give a Ynje and fairf view which is not a matter considered as part of an independent exarnlnali', or the accounts have not been prepared in ac¢xJrdance wilh Ihe methods and prinaples of the Statement of Recommended Practice -or accounting and reporting by charitses lapplicable lo charities preparing their aceounls in accordance wtih the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concems and hav¢ come across no other matters in ConneCtn the 8X8mination to which attenlion should be drawn in this report in order to enab a proper understanding of the accounts lo be reached. This report is made solely lo the Charivs Trustees. as a body. in accordance wtth Part 4 of the Charrties (Accounts and ReFM)rtsl Regulations 2008. My work has been undertaken so that I might stale to the Charitys Trustees those matters l am rpquired lo stale lo them in an Independent Examinerfs Report and for no other purpose. To the fullest ext&nl pemiitted by law, I do not accept or assume responsibility lo anyone other than the Chanty and the Charitys Tnjslees as a bcrfty, my work or Ihis re[ Signed.. Stuart McKay Bsc FCA DChA MHA London, United Kingdom Dated.. 2710912024 Page 8
MADANIYA IA Company Limited by Guaranteo) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEPR ENDED 31 DECEMBER 2023 Total funds 9 morpths &nded 31 D•ctrmber 31 December 31 December 2023 2023 2022 Unrestrlcted funds Total funds Note Income from: Grants 568,082 568.082 20,566 Totsl Incom& 568.082 568,082 20,566 Expandbtur• on: Charitae actitieS 516.120 516.120 20,566 Total expendlture 516,120 516.120 20,566 Net movement In funds 51,962 51.962 R•conciliation of funds: Nel movement in funds 51.962 51,962 Total funds carrled forward 51,962 51,962 The Stalement of Finar181 ACtivoS includes all gains and k)5ses recognised in the year. The notes on page$ 12 to 21 fomi part of these financial statements. Page 9
MADANIYA (A Company Limited by Guarantee) REGISTERED NUMBER: 14017708 BALANCE SHEET AS AT 310ECEM8ER 2023 2023 2023 2022 2Q22 Note Current assels Debtors.. Amounts fallirvJ due wtlhin one year Cash al bank and in hand 10 12,683 57,598 57.598 12.683 Creditors: Amounts falling due within one year 11 {5.6361 {12, 683) Net Gurrent assets 51,962 Total nol assets 51,962 Chartyfunds Unreslricled funds 12 51,962 Total funds 51,962 The Charity w8s entilled to exemption from audit under soctton 477 of tha Companies Act 2006. The Members have not requir•d the company to oblain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their fespons1bilrtS for comF4wng the requirements of thg Act wlh reSpt to accounting records and prepari?tion of financial statements. The financial ststements have )een prePad in ac(L)rdance the provisions applicable lo enlitSes subject to the small companies regime. The financial ststemenls were approved and authorised for issu8 by the Trustees and signed on their b&half by. Ayman Asfari Chair Date.. t71qILP The notes on page5 12 to 21 fomi part of these financial ststements. Page 10
MADANIYA IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 9 months ended 31 December 31 D•cembor 2023 2022 Not• Cash flows from operating actlvltles Net cash used in operatirKJ actiwties 14 57,$98 Change In cash and tash equlvalents In the year 57,598 Cash and cash equivalents at the end of the year 15 57,598 The notes on pages 12 to 21 fomi part of these financial slatements Page 11
MADANIYA IA Company Limited by Guarant•è) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General Inforynatlon Madaniya is a Charitsble Company and is registered with the Chanty CommissK)n Icttanty Registered Number 1191681) and the Registrar of Companies (Company Registration England and Wales). In the event of the Chartty being wound up, the liatxlty in respecl ol the guarantee is limited lo £1 per Member of the Charity. The address of the registered office is given in the Charity infomialion on page 1 of these financial st8lements. The nature of the Charitys operations and princ¢pal activities are detailed in the Trustees, rewt. The sfvjnificant accountsng FK)li¢ies applied in the preparat of these finanaal statements are sel out bdow. These policies have been consistently aPleS to all peri(MJs presented unless otherwise staled. countlng pollcies 2.1 Basls of preparation of financlal statoments The financial staternent5 have t)een prepargd rn accordance wilh the Chartties SORP (FRS 1021- Accounting and Re30.ng by Charrties: Statement of Recommended Practice applicable lo charities preparing their attounls in accordance with the Financial Reporting Stsndard applicable in the UK and Repu1¢ of Ireland IFRS 1021, the Financial Reporting Standard applicable in the UK and Republic of IrelaThJ IFRS 1021 and the Companies Act 2C(16. Madaniya meets the definition ol a publK benefit entity under FRS 102. Assets and liabilit9 are initially recognised al hi5tori¢al cost or transaction value unless otherwise Staled in the relevant accounting policy. The financkgl ststements are presertted in sterling which is the functional currency of the Charity and rounded lo the nearest pound. On the 16108123 the Comparw became a registered Chanty and therefore formally adopted the Charibes Statemen-. of Recommended Practi. applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK arld Republic of Ireland. As a result the comparative figures in these financial statements have been reslaled in order to comply wth this accounting stsndard. The Charity had a short accounting perh of 9 months in the prior year. therefore the comparatives are not dIrY comparable. 2.2 Going concern The financial statements have been prepared on a goiThJ concem basis as the Trustees believa that no material uncertainties exisL The Trustees have conshlered level of funds held and the expected level of income and expenditure for 12 months from authorisirkg these financial statements. The budgeted ineome and expenditure is suffieient wth Ihe level of reserves for the Charity lo be able to continue as a going concem. Page 12
MADANIYA IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 Accounting policies leontinued) 2.3 In¢ome l income is recognised once the Charity has entittemenl lo the income, it 19 probable that the income wll be received and the amount of income receivable con be measured reliably. Grants are included in the Statement of Financial Activiti"es on a recelvable basls. The balance of income received for specific purry)ses but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entittement of receipt, its recognition is def&rred and induded in creditors as defarred income. Where entttlement occurs before income is reiVed. th6 income is accrued. 1 2.4 Expendfture Expenditure is ¢an1$ once the is 8 legal or constructive otligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the oblwJati)n can be measured reliably. Expenditure is classified by actiwty. The costs of each 8Ctiwty are up of the total of direct costs and shared costs, induding supt>ort (xysts involved in undertaking each activity. Direct costs attributable to a single actiwty are allocated directty to that aciivtty. Shar&J costs which contn'bute to more than one activity and support costs which are not allribulable to a single activity are apportioned between those a¢tiMties on a basis consistent the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreciatiw charges alkKated on the poruon of the asset's use. Expenditure on charitable activities is incurred oll directly undertaking Ihe activibes %thich further the Charitys objeclives, as well as any assoclaled support costs. l expendilurg is IlUsiVe of Irreble VAT. 2.5 Debtors Trade arKI other debtors are recognisgd al the settlement amount after any trade discount offered. Prepaents are valued at the amtsjnt prepaid nel of any trade discounts due. 2.6 Cash at bank and In hand Cash at bank and in hand includ8s cash and short-tsrm highly liquid invgstmenls wlh a short maturity of three months or less from the date of acquistlion or opening of the deposit or similar account. The Charivs bank account was held under the name of the Asfari Foundation who are acting as agent ulltil the charity can establish its own accounL 2.7 Llabllltles Liabilities are recognised when there an otrAvJation at the Balance Sheet date as a result of a past event. il is probatje that a transfer of e(x)nomic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. LiakMlikne$ a re(tsJnised al the amount that Charity antictpates il wÉll pay to settle the debt or the amount it has receiwj as advanced payrnenls for the gc5 or seNS it must provide. Page 13
MADANIYA IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles (continued) 2.8 Financial instNments The Charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the Charity and their measurement bases are as follows.. Debtors - trade and other debtors (including accrued income) are basic financi81 instruments and are debt instruments measured at amortised C4)St as detailed in Note 10. Prepayrnents are not rsnancial instruments. Cash at bank is dassrfied as a basic financid instrument and is measured al la¢e value. Financid liabilttses - traje creditors. acuuals and other u8ditOfS are financial instruments, and are measured al amorttsed cost as detsiled in Note 11. 2.9 Penslons The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable bv the Charity lo the fund in respect of the year. 2.10 Fund accountlng General funds are unrestricted funds are available for use at the discretion of the Trustees in furtherance of the generd objectives of the Charity and which have not been designated for other PUfW)ses. Critical accounting gstimates and aroas of Judgement Estimates and judgemeiits are continuatiy evaluated and are based on historical experience and other factors, induding expectations of future events that are betieved to be reasonable under the circumstances. Income from granls Total funds 9 monlhs ended 31 December 2022 Unrostrlctsd funds Total funds 31 D•cember 2023 31 D•combor 2023 Grants 568.082 568.082 20,566 Page 14
MADANIYA IA Company Llmlted by Guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2023 Analysls of expendlture on chafitable activlties - by fund UntCt¢d fvnd$ Total 9 months ended 31 DoGemb@r Total 31 31 December DMbOr 2023 2023 2022 Charitable acliwties 516.120 516,120 20,566 Analysis of expendlture on charttable actfvltSes- by type Activltle$ undertaken dlrectly Support costs Totsl funds 31 December December December 2023 2023 2023 31 31 Charitable acttvit¢es 345.088 171,032 516,120 Activities undertaken Support directly costs 9 m<S 9 months ended ended 31 31 December December 2022 2022 Total funds 9 months ended 31 De¢embei 2022 Charitable actmlies 16,914 3,652 20,566 Page 15
MADANIYA IA Company Limitod by GuarantO0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEM8ER 2023 Analysis of expendlture on charilable activities- by type (conllnued) Analysis of support ¢osts Tot81 lunds 9 months ended 31 Decembe 2022 Total funds 31 December 2023 Staff costs Legal costs Payroll services Govemance costs 88nk charges Website costs Sundry costs IT costs Consultancy Travel cost5 Insurance 56.316 10.525 900 102 2,520 1.141 44.743 130 6.605 17.930 28,362 636 171.032 3,652 Govemance costs 2023 2022 Independent examiners, ?muneration- cutrent rMicMJ Independent examiners. i?mufleration - Prior year over accrual Accountancy fees 19601 2.520 2,520 Page 16
MADANIYA IA Company Llmlted by Guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Staff costs 9 n70nlhs gnded 31 December 2022 31 December 2023 Wages and salaries Social security costs Pension costs 84419 9,263 2,665 15.969 96.347 15,969 The average number of persons employed by the Charity during Ihe year was as foll¢)ws.' 9 monlhs ended 31 December 2022 31 Decgrnber 2023 Employees No emp5oyee receNed remunerath)n aMcnting to more than £60.000 in either year. The total amount of employee benefits received by Key Management Personnel was £61.921 (2022 - £10,253). The Chartty Considefs its Key Management Personnel to comprise.. CEO Trustees Trust8, remuneration and expen$es During the year. Trustees recetved any remunerab.on or other tenefits (2022- £NIL). During the year ended 31 December 2023. expenses totalling £1.292 were reimburwl or paid direcuy to 2 Trustees (2022- £NIL lo no Trustees). These were in respect of travel costs. Page 17
MADANIYA {A Company Lirnited by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Debtors: Amounts falling due within one year 2023 2022 Grants rethvable 12,683 12,683 11. Croditors: Amounts falling due wlthln ono y•ar 2023 2022 Trade creditors Other taxation and sccial Serty Other credtto Accnjals and deferred income 60 4,236 5.867 2,520 5.636 12,683 Page 18
MADANIYA (A Company Limitèd by Guarant••l NOTES TO THE FINANCIAL STATEMEPItS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Statement of funds Stat•ment of funds - currant year Balancè at 31 December 2023 Income Expendlture Unro$trld8d funds Unrestricted funds $68,082 (516.120) 51,962 ststoment of funds- prlor ygar Jgalanc8 al 31 December 2022 Income Expenditure Unr93trided funds Unrestricted funds 20,566 (20,566) 13. Analysis of n•t assots bolween funds Analysis of net assets between funds- currgnt year Unrn$trScted funds 2023 Total funds 2023 Current assets Creditors due within one year 57.598 15.6361 1,598 (5.636) Totsl 51.962 51,962 Page 19
MADANIYA (A Company Llmiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Analysi$ of assets bgtwegn funds (continued} Analysis of net asset5 bgtw8an funds - pilor year UnTe8tricl8d funds 2022 Total fvnds 2022 CL¢rrent assets 12.683 (12,683) t2,683 (12,683) Creditors due within one year Total 14. Re¢on¢lllatlon of net movement in funds to net Cash flow from operatlng actlvities 9 months ended 2022 2023 Net income for the year as per Statement ol FinancFal Acltvibes) 51,962 AdJu$tm¢nts for: Decreasellincreasel in cebtors (Decreaseifincrease in credttOTS 10 12,683 17,0471 (12,683) 12,683 11 N•t eash provldad by opwating activilios 57.598 15. Anatyslg of cash and eash equlvalents 2023 2022 Cash in hand 57.598 Total cash and ¢ash equivalents 57.598 Pagg 20
MADANIYA (A Company Llmlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Analysls of changes In net dgbt At31 December 2023 Cash flows Cash at bank and in hand 57,598 57,598 57.598 57,S98 17. Pen$lon ¢ommltments The amount recognised as an exnse in the sEar was £2.665 (2022 £NILJ. There were no contributions payable to the fund at the Balance Sheel date (2022- £NIL). 18. R8lat8d paty transactlons The Tnjstee, Awnan Asfari is also a Trustee of The Asfari Foundation. During the year. Grants totalling £477.302 (2022 - £NILJ wa5 made by The Asfari Foundalion io Ihe Charity. As al the year*nd. a total of £NIL (2022- £NILJ vra5 e)wed lo the Charity. The Asfari Foundation also agrees to hdd their grants on trust for and lo thè order of Madaniya until a sultat8 bank account has beon Secured lo accept the grant transfer. Accordingly. Madaniya (an direct the Foundation lo make paylnents to third parbes from the allocatgd grant on its behalf. Page 21