Company Re9iStered Number: 14017708
Charity Registèred Number: 1204378
MADANIYA
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

MADANNA
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Detsils of the Charity. its Trustees and AdvSsèrs
Trustses. Report
Statement of Trustees. Responsibiliti8S
Indepèndent Examinèrfs Report
10
Statemont of Financial A¢tivitie$
8alan¢o Sheet
12
Statement of Cash Flows
13
Notes to the Flnancial Statèments
14-22

MADANtYA
IA Cc*mpany LSmlted by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Ayman Asfari, Chair
Amneh Khoulani, Vice Chair
Fadi Dayoub, Treasurer
Samar Chamsi-Pasha
Ibrahim Olabi (resigned 15 March 20251
Company reglstered
numbèr
14017708
Charity reglstered
number
1204378
Registered office
1 Gough Square
London
United Kingdom
EC4A 3DE
Chief exècutNe officer
Sawsan Abou Zainedin
Independent Examiner
MHA
6th Floor
2 LDndon Wall Place
London, United Kingdom
EC2Y 5ALJ
Soli¢itors
BDB Pitmans LLP
One BarthDlomew Closè
London, United Klngdom
EG1A TBL
Page 1

PIADANIYA
(A company limited by guarantsel
TRUSTEES, REPORT
FOR THEYEAR ENDED 31 DECEMBER 2024
Chairfs Introduction
On behalf of the Board Of Trustees, The Chair presents the Annual Report for Madanrya for the year ended 31
December 2024.
Objèctives and Activitie4
Chartt&bl& Ob'ectives=
The advancement of human rights las set out in the universal declaratton of human rights and
subsequent nations convonlions and declarations), forth& public benefit in relatlon lo Syria, including but
not exclusively by=
raising the public's awareness of human rights issuès,. and
¢ondu¢ting intemational advocaoy of human rights.
The promotion Df the effectwe use of rÈsour¢es for charitable purposes In relation to thosè affected by
war and conflict in Syria (who are inside the country orwho have been displaced), in particular by running
a notwork which will-.
CD-ordin8te with civil society rJrganls8tions that have thè ctsmtnon goal of providlng charitable
seTvices or ￿118￿
act as a forum for the exchange of information belw8en civil scKiety organk%ations in order lo
Identfy gaps in the range of Charitable serVi￿S availablè.,
represent a range of views to policy tnakers and funders.. and
provide advi￿ and information to uvil Socièty oiganisations.
AGtivities'.
Madanrya's charitable objecliv8s are deriveol from its vi%ion of an inclusNe, democratic. anof sovereign Syria,
where all citr£ens are equal under the rule of law. These objectNes are entrenched in its mi%sion to protect civic
Spa￿ and support the pioneering role of cNil socièty in building Syrta's future. Madaniya advances thts misslon
by=
Mobilising Syrian ctvil society organisations inside and outslde Syria 8round a shared sel of righ￿baSed
values to organise within a unifying civic space that transcends divisions and enhances 2 sènse of
belonging 8nd own2rship_
Capitslising on the collective re80urces, ￿apaCi￿eS, knowledge. and political influencè of Syrian Civic
actors to ensur8 a leading role for Syrians in Syria-related deGtsion-making processes on the local,
national. regional, and intemalional levels. It elevates the presencé of Syrian cwic actors and introduces
them as key interfocutors for international policymakers and genuine counterparts in dècision-making
platForms related to Syria.
Intemalty, Madaniya strwes lo inGrease the efficiency of civic work re]ated to Syria bysUPPOrting member
organisations to itnprove their institutional Capacities and stimulating an inducwè work environment that
protects ctwic actors. This environment allows them to efficiently navigate ltscal and national dynamics
and the international assistance landscape and encourages their ￿ordInatIon and ￿llaboratIOn to
nsuro complementarity and intersectionalty. reducing indwidualty and speculation.
Public Benefit:
The Trustees hav8 complied wtth their duty to have due regard lo the public benefft guidance published by the
Ch8rity Commtssion.
Page 2

MADANIYA
IA Gompany limSt&d by guarantèe)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
AGhievements and PÈrFormance'.
In 2024, Madaniya cementeLI its position as one of the most credible and influential Syrign civic actors in the
Syria-mlated decisic)n-making landscape. Its work this year marked a bold leap fr)rward, not only in representing
Syrian civil socièty in critical polrtiGal plaknrms but in shaping the discourse on Syria's fLrture through organised
cNic mobilisation, strategic advocacy, and direct political engagement.
Establishin
Madan
aasaK
Actor in Dècision-makin
Pla
In 2024, M2daniya consolidated hs standing as a leading Syrian ¢wiG actor with direct access tD hig￿leVel
intèrnational platForms-rfiO tonger 8 peripheral presenGe, bul a recognised contributor to policy-shaping
processes on Syria. What distingutsh¢d Madaniya's engagements throughout the ysar was notjust its pr&sence,
but its abilty to bring wllective Syrian cwic per5pectlves into spaces traditionally reserved for states and
multilateral instttutions.
Most notably. in November. Madanrya's Chief Executive Offi￿r delivèred a formal briefing ID the Untted Nations
Securty Council {UNSC} during a session convened by thè United Kingdom. The intervention focused on the
political deadlock. th& m8nlpulation of humanitarian aid, and thè broader erosion of 8¢countability. Drawing on
insights from aeross Madaniya's network, the CEO underscored th¢ urgency of usingjustice and aid as pwssure
points to unk)ck genuine political pmgrÈs$ in line with RÈsolLrtion 2254. The briefing reflectèd noljusl institutional
expertise, but a coordinated CMC voice-shaped thTough intemal consuttations with Madaniya's members.
Madaniya's &ngagement at UNSC was preceded by structured consultations with its member organisations. who
helped sh2pe thè messages presentod. This &nsured that Mttdanrya's representation was not individualisad but
grounded in CDlle¢tive civic deliberation and legilimaw.
Earfier in thè year, Madaniya parbcipaled in the Ministerial Session of the Eighth Brussels Confèrènce on
Syria, the Eu's flagship political and donor event on Syua. Madanrya's CEO seTved as one of three rapporteu
for the Ministerial segment, tssked with rcporting on the panèls that took place earlier during the EU~led day of
dialogue with the civil society. The rapporteurs, interventions brought civil society perspectives directly into thè
ministerial dèliberations, ensuring that the prior￿e$ and key messages raised in dis¢ussions were refIèeted in
the political ￿)nclusIOnS of the conferen￿.
In Mov&mber. Madaniya also took part in a closed mepting with the EU MashreqlMaghr?b Working Group 4
coordination forum for EU member states on Middle East and North Africa affairs. This meeting carne amid
escalating regional efforts to noTYT)alise ties wth the Assad regime. Upon invitation frtrm the EU, Madaniya's
nvened a broader delegation of Syrian civil society actors frpm its member Drganisations to present in this
mèèting. Together, the group presènted coordinated messages on thè refvgee file, th9 coliapse of the political
process. and the risks of a dèpoliticised earfy recovery agenda. The inlerventlof15 served to inject an organised
civic Counter￿narrative into EU policy discussions.
At ttke end of November, Madaniya joined the 20th Annual Meeting of the Core Donor Group on Syria, a
platfotrn convened by the European Commission with parti¢ipation from major donor wveTnrnenls and UN
agencies. Thi% year's meeting marked a notablo shfft in focus-frtsm humanitsrian aid to early recoveryAargely
in respons6 to mounting regional and international efforts to normalise relations with the Assad règime. In this
context, Madaniya's intervention aimed to highlight the seritrus risks of politicising aid undèr the banner of early
rewvery. Drawing on Ihe work of ils member organisatitsns, Madaniya presented key messages warning against
approaches that could ent￿nCh impunity. bypass political realttles, or enable the regime to instrumentalig& donor
support for its own consolidation.
ThrDu9h these engagemènts. Madantya demonstrated that Syrtan cNil society i£ capable not onty of participating
in policy sPa￿s-but of shaping them. These wère not symboli¢ appearances. They w&re strate9ic, ifbformèd,
and representstNe interventions that rèasserted Syrian cwic agency wh&rg it had been marglnalised.
Page 3

MADANIYA
IA company limited by guarantsè)
TRUSTEES. REPORT
FOR THEYEAR ENDED 31 DECEMBER 2024
Mobili5in
rian Civil Soci8
Around Core National Issues
While navigating inlernalional corridors of power, Madaniya was equalty focused on mobilisation. Throughout
2024, the organisation rallied Syrian civil actors around strategic develDpments-pushing for unity. clarity. and
polrtical agency in a landscape often fragtnented by fatYJue and repression.
The nomialisatlon fllè was a major area of focus. As po1￿col normallsatlon with the Asssd regime gained
traction in regional and European ¢apttals, Madaniya co-led a coordinated civic response. not as a political
intervention but to ensure that the regime's human rights vic)lab"tsns do not go unpunished and to prèss ft)r
accountability and righ15-b8sed 501ulions. Together with prominent Syrian organisations, Madanrya developad a
jDlnt ststement warning that th8 normaltsation process was directly fuelling rising violence against Syrian
refugees, particularW in Lebanon and Turkey, and creating a broadèr culturè of impunity for human rights
violations. This culminated in a press confÈrèneè in Brussels, attended by EU officlals and int&rnatK)nal media,
where Madaniya and its partners publicly Ghallenggd ststeffjriven narratives and ¢alled for rights-based policie5
alignèd with UNSC Rèsolution 2254.
Simultantsousty, Mad8niy8 ¢ontinued its advocacy around the Earty Recovery file. Building on rnonths of
consuttations. it facilitated the space to Co-author a Syrian-led position paper critrquing the UN'S Earfy Recovery
Strategy and Trust Fund. This paper callèd for shrfting the response moolel from inlprnatiot5al gatekeeping to
Syrian-lèd planning, emphask8ing IDcalisation, justice, and human tights. The paper informed bilateral mèetings
with the UK'S Foreign, Commonwealth and Development Offi¢¢ IFCDOI, and was later used in clDsed4oor
discussions with thè EU donor bloc.
Madaniya 81$0 h&lp&d convene the Second Annual Conferènce on ChÈmic41 Weapons in The H2gue, a key
moment for Syria's jus1iGe agenda. Organised in collaboration with the While Helmets and other pathers and
member otyanisations. the conference drew international attention back to) the use of chemical weapons and the
regime's continued impunty. It also rèvived calls for an ex￿ptiOnal tribunawa rnove aimed al bypassing the
political gridlock within the UN S8curÉty Council and holding perpetrabrs accountable under intemalional law.
Coordinatin
National Pro
ects for Political A
en
andawa
Out of the Stalematè
Al the heart of Madaniya's work in 2024 were ttvo major projects designed to address Syria's politi￿1 deadlock=
the National Dialogue Project on Resolution 2254 and the Syria Strategy Project ISSP) in partnership wth
the Middle East Institute IMEII, the European Institute of Peace IEIPI, and the Atlantic Council.
The National Dialogue Project. launched in early 2024 Liroughl together Syftan Givic gGlor5 from across political
dividès and geographic lines. ThrDugh 13 local workshops and multiple virtual sessions, participants engaged
with the core components of a political transitiDn'. the transitional govern?ng body. constitutional rtrforwn. and
elections. The dialogues reflected deep public frustration with the stalled political process bul also produc
groundèd, loe8lly rooted visions for a credible nation81 political transition. The projecys cèntral aim was to develop
a Syrlan inlerpret2tion ol UN Securtty Counctl Resolution 2254-one that reffects the Inied realities, priorities,
and aspirations of Syrians. rather than externalty imposod frameworks.
In p&rallel, Madaniya played a leading role in the Syria Strategy Project (SSP}, 8 mullilal&ral inttialivè seeking
to produc8 policy solutions on Syria's humanitarian. eeDnomic, and political crtsis. Madaniya ensured Syrian civil
society participation at all levels, contributing lo working groups and engaging directty with international
policymakers. The project aimed lo develop actionable policy options for key intemalional and regional
stakeholders, based rin the recommendations of specialised working groups composed of prominent Syrian and
international experts across relevant sectors. Through this effort, Madanwa worked to bridge the gap bètsèèn
technical experttsè, civi¢ priorthes, and intomalional poliw dlscussions.
T￿ether, these kn) projp¢ts Qstsblished Madaniya not only as a pLotform for advocscy bLrt as a generator of
polth.cal alternatives￿ridgÈn9 grassroots perspectives international pDlicymaking arenas.
Page 4

MADANIYA
IA company limited by guarantsel
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Post-Assad Work and Political GrDundin
W￿h Ihe regimè change in December, a nw Chapter began. Madaniya conducted its first official visit to Syria.
This symbolic and strategic moment was a signal of the civic space reclaiming the national stage. Upon arrNal
in Damascus, Madaniya convened a round-table discussion wÈth its membèr oryaniyations. bringing
together civic actors to Tefiect on the unfolding transition and identtfy sharèd priorities for the post-Assad period.
Thp discussion focused on justice anct accountability, reconstruction, the principles needed lo guid8 a
democratic and inclusivè political process. Irnmedialely followin9 the roundtsbl&, Madaniya hèld a press
conference. formally announcing its presence on the ground and reaffirniing its cornmitment to a cwic-led
transition rooted in citizenship. domocralic valuès, 8nd human rights.
During this vistL Madaniya facilitated and participal6d in mè&tÉng$ between Syrian civic actors and
international dèlègations, most notably with the French Spgclal Envoy and the U.S. As51Stant Secretary of
state for Near Eastern Affairs. These meetings allowed Syrian civil socièty to articulatè 3 post-Assad vision
rooted in citizenship. inclusion, and acGountsbl8 governance. By coordinating these encounters, Madaniya
ensured thatcivil soaetywas notsidelined in the emergino powèr dynamics but adively shaping Syria's transition
process.
Intemal Gov8rnanc8 and Democmtic Practice
Even amid national transformation, Madaniya rèmained ¢ommttttrd lo intemal refomi. Throughout 2024, the
organisation facitstated a broad consultation wth its members on int?rnal bylaws and pr&parations for Board of
Directors elections. A new electoral systgm was designed, and an independent èlections ￿MmIttee was
establisheol. By the autumn. nominations had opened, and campaigning began.
However, with the tegim&'s Gollapse and the unfolding political shtfts, the elections were temporarily hatted In
De￿Mber. The decision was made by thè independ?nt committee to revise the governan￿ framework in lina
with Syria's evolving landscape and to ensure that Madaniya's internal processès align wtih its national
responsibiltties in this Iransilional periud. This pause reflected not failure, but principlgd flexibilTty-one that
prioritised national interest and collective strategy over pro¢edural ￿ntinuity.
Conclusion
In 2024, Madaniya moved from being a promising Civic platfomi tr) a central actor in faGilitating Syria's future.
Through strategic e￿gageMent, grassroots mobilisation, and principled advocacy, it not onty represèntèd SyrNxn
civil sttiety at the highest levels bul created new ¢Nic pathways toward political Iransfomiation. Its projects.
partnerships. and firrn Commitsnenl established a foundatiDn for sustsined political participation based onjuslice,
dignty. and demo¢ratic prindples.
Financial Revlew
Review of Financial Posiknon IAII figures have been rounded ID th8 n&aresl £1.0001=
Mad8niya'8 total income in 2024 amounted to £73,000, recewed through philanthropic donation8 and an
unrestricted grant frorn Madaniya Franc&. Of this amount, approximatety £68.CtOO was provlded by Madaniya
Fran￿ and a further £5,000 was received as a donatioft from Madaniya's Chairman.
Page 5

MADANIYA
(A Gompany limtted by guarant8al
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Between January and November 2024, Madaniya did not y&t have an operational bank account. During thES
pfrriod, all activitiès were fully fund￿ by the grants from the Asfari Foundation and Madaniya Fr8n¢e, who he
the funds in their own bank accounts on behaEf of Madaniya. Thèse tr￿0 èntibès managed and processad als
expenditure directly on Madaniya's behalf. Madanrya's core charitable activities were pl#nned and implemented
in close partneT5hip with Madaniya Francè, which also directly covered the costs of th&se achvtties. As such, all
funds managèd on bèhalf of Madanrya were spent on Dperational expenses, primarily staff salaries for those
involved in the planning and implementation of the programmes.
In December 2024. Madaniya opened its UK bank account and received the £5,000 donation from its Chairman
into it. By 31 December 2024, Madanrya had spent £120,000 of its total income. Thè rèmaining balance of
£16,000 w85 carrted forward to support activities in 2025. Of this balance, £11,000 remains held by Madanwa
France on behalf of Madanwa, and £S.000 is held in Madaniya's UK bank account.
Madanrya did not carry OLrt 8ry fundraising activities in 2024. It aL%o holds no investments and does not opérate
as a granl-maknng organis8tion. Accordingly, Madaniya does not have any investment or grant-making polici6s
in pla￿. A formal reserves poli¢y is not yet estsblished, but development of such a policy Is currantsy underway.
Princlpal Rlsks and Uncertainties:
Thè absen￿ of a bank account remain&d Madanwa'8 primary operational challenge throughout 2024, limiting its
ability to fundraise and plan effectivety. As a company limited by gu8Tantee, Madaniya applied to several high-
street and onlin& Lianks but made little headway. The broadèr banking environment-characlerised by
overcompliance when dealing with confiict-affected and heavily sanctioned countries likp Syria-was a key factor
in these delays.
To maintain operations. Madaniya rèlied on a hDSting arrangement through its grant agreements w¢th the Asfari
FDundation, which enabled the FoundatiDn to procèss payments on its behalf. Additionally, Madaniya ÈntÈred
into a partnership with Madaftiya France, which signed grant agreements and covered a portton of Madaniy8'8
Opèrationa￿ arkd programm&-related costs direclly.
In December 2024, Madaniya successfully opened own bank account with Unity Bank. marking an important
slep toward greater financial independence.
The trustees and senior management of Madaniya are well aware ofthe financral risks 2ssocialèd wth sanctions
and countertèrrorism rÈgulatr"ons. To manage these risks, MadanEya Worked closely with the Asfari Foundation,
drawing on its experfence and infrastructure lo strengthen its due diligence processes, wlicios, and internal
controls.
Plans for the Future:
Looking ahead to 2025 and beyond. Madaniya remains committed to advancing its Gharilable objectives in light
of the significant political developmènts in Syria, p&rh¢ul8rly the fall of the Assad regime and the estsblishmenl
Df a new transitional government. These changes present 8 historic opportunity to reimagine the rolè of Syrian
cwil soci6ty in shaping th8 county's fuknre.
In response, Madaniya will lead the development of a new strategic framework that refiects this evolving conlexL
This strategy will be co4esigned with Madaniya's member oruanisetions and a newly reactivated board of
directo￿. As part of this process, board elections will resume in 2025 to ensure broad and democratic
representa￿tsn in governance and deGi5iOn-making.
Page 6

MADANIYA
(A company Ilmlted by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
RecognEslng the Importancè of operational presence within Syria, Madaniya will support the establishment of an
independent, Syria4J8sed org8nl$8tic>n capable of managing activities on the ground in full Compl18n￿ with local
laws and regulations. Madaniya will brmalise partnerships with this entity in accordance with UK legal
requirements and guidance from relevant authorities, ensuring alignmènt wrth its charitable purposes and
accountabilty stanclards.
In parallel. M8danya will continue lo serve as a convèner of Syrian civil society, facilitating dialogue among Tts
member organtsations and generating policy all8rnalives that support the political transition in line with its vision
and values. Additionally, Madaniya will work with its members to formalise a financial rrsodel that &nabl6s
voluntsry contribLrfoons toward its long-torm finanGial suslainabilty.
Going Concom
After maklng apprDpdats 6nqulrtès, thè Tntstttes have a reasonable expectstion that the Charty ha5 adequate
resources to continue in operational existence for the foreseeable future. Accordingly, thè Trustees continue to
adopt the going concem basis in preparing the financial statemènts.
This assessrnènt refiÈcts Madaniya's secured commitsnents, including ongoing support from the Asfari
Foundation and contributions from member organisations. Howev&r. evèn with these commitments, there
remains a projected deffcil that will noed to be bridged through addftional support from donors who share and
believe in Madaniya's mission. While efforts to secure such support are ongoing, there can be no guarantee that
the required funding will be obtsinèd. Further details regarding the adoption of the going concern basis can bè
found in the accounting PDlicies.
Structure, Govemanre and Management..
Thè goveming document of Madaniya is the CDnstilution which includ8$ its Memorandum and Articles of
Association. St was incorporated OA 01 April 2022 and amended by the cerbftcate of incorporatictn on change of
name and objèctives dated 10 August 2023. Madaniya's Gonstitution requires a minimum of three Trustees.
Currently Madaniya has five Tntstees who also act as Directr)rs fDr thè PLErpDses of company law. frustees ar8
selected based on their experbse and Gapabililie5 to ensure effective govemance that meets legal and ethical
stsndar(Is. The key management personnèl of Madaniya consist ofthe Trustees and the Chief Executwe Officer.
Trustees voluntèèrthèirtime and re￿1vE no remun&ration. The CEO'S remuneration is dètermined ancf approved
by th8 Trustees in line W[￿ sector standards.
In 8ddthon to ils Trustees. Madaniya has a non-legal non governing Board of Diretttors of which the Trustee5 a
embers. The authority of this Board of Directors is delegated by thg Trustees to develop and rècommend
strategic plans for Madanrya. The Board of Directors acknowledges that the Trustees retain full control and legal
responsibility and wll not usurp th& general decision-making authority of th& Trustees by acting without
appropriate authority. The Board understands that any decisions it makes that contradict the lègal responsibilities
of the Trustees are null and void.
Members of the Board of Directors contrlbute their timè on a voluntary basis and therefore recèiv8 no
remuneration. Thèy opèratè through sub committees and meet perK)Lfically to ensure the eff&cliv& strategic
managem8nt of Madanya. Upon its inauguration in 2023 mèmbers of Madaniya's Board of DirectOES were
sèlected by the Trustees for their skilb and abilities. In 2024 elèctions for one third of the Board of Dlrectors we
Ljnderway before being paused in Dècembèr due to the 5ignrficanl political changes in Syria. Those Lfevelopmfrnts
required amondments to the Board electoral system to refl&cl the new reality. ElectiDns will resume in 2C125 once
the current Board and the independent committee appointed by Madaniya to supervise thè elections have
finalised the updoted eleGtoral system.
Page 7

MADANtYA
IA ¢ompany lÉmited by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Beyond its Trustees and Board of Directors, M8daniya opérates a netr￿ort of Syrian civil society organisalions.
Membership in this network is contrathal and does not confer any formal constitutional role. Madaniya
engag&s with these member organisations Ihrou9h regular meetings to solicit thèir vièw$ on strategic direction
and to involve them in thè periodic elections of the Board of DireGlors.
Small companies note
In preparing this report, the Trustees have taken advantaga of th& small companies exemptions provideLI by
section 415A of the CoTnpanies Act 2006.
This report was approved and authorised for issue by the Truste&s and signe(l on its b&half by..
Ayman Asfari
hair
Date: 24.09.2025
Page 8

MADANIYA
IA Company Limtted by Guarantèe)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trusteès (who are also the Directors of the Charity for the purposes of cotnpany lawl are responsible for
preparing the Trustees. Report and the financial statements in accordancè wth applicablè law and United
KlngdDm Accounting Stsnd8rds (United Kingdom Generalty Accepted Accounting Practical.
Company18w fÈqLJirès thè Trustees to prapsre financial statements for each financial year. Undgr company law,
the Trustees must not appmve the financisl stslements unless they are satisfied that they give a truè and fair
view of the slate of affairs of the Charity and of its in￿ming resources and application tsf resources. including its
income and expenditure, for that period. In preparing these financial stat8mènts, thè Trustees are required to=
select suitable accounting pollcies and then app￿ them consistently.,
obselve the methods and principles of the Charities SORP IFRS 102)-
make judgements and accounting estimatès that are rèasonable and prurlènt,.
statè whèthèr applicable UK Accounting Standards IFRS 1021 have been followed. $ubjg¢t to any material
departures disclosed and explained in the financial stalgmenls-
preparè Iho financial statements on the going concern basis unless it ts inappropriate to pr8sum8 that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that arè sirfficiènt to show and explain
the Chartws transactions and disclose wlh reasonable accuracy at any time the financial position of the Chartiy
and Ènablè them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding th& assets of the Charity and hence for taking reasonable steps for thè prèvèntion
and detection of fraud and other irregutarities.
Approved by order of the Members of thè Board of Trustegs and signed on its.behalf ty.
Ayman A5fari
Chair
Date=
1gQ7 /z¢
Page 9

MADANIYA
IA Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER2024
Independent Examlnerfs Report trj the Trustees of Madaniya I'the Charityj
I report to thÉ Ch8rÉty Trustees on my examinaJon of Ihe accounts of the Charity for th6 year ended 31
December 2024.
Responsibilities and Basis of Report
As the Trustees of the Charlty land its Directors for the purposes of company law} you are responsible for the
preparation of the accounts in accordance wllh the requirements of the Companies Act 2006 Vthe 2006 Act'i.
Having satisfied mysew that the accounts of the Charity are not required to be aLJdited under Part 16 of the 20Q6
Act and are eligible for independ¢nl examination, I report in respect of my examination of the Charivs accoLtnts
Carried OLrt unLfer section 145 of thè Ch8ritiès Act 2011 (the 2011 Act'l. In carrying out my examination I have
followed the Directions gtven by the Charity Commission under sectlon 14515llbl of the 2011 Act.
Independent Examlnerf$ Statsment
I havè complètèd my examination. I confirm that no matters have come lo my att8ntion in ￿nneCtiOn wth the
8X2mination giving me cause lo believe=
a¢xx)unting r8cords were not kept respect of Charity as required by sectlon 386 of the 2D06 Act.. or
the accounts do not accord with those records,. or
the 8¢¢0unts do not comply with the acsounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a true ancl fairf wew which is not a matter ¢onsidered a8 part of
an independent examination- Dr
the accounts have not been prepared in acBordanBe with the methods 8nd principles of the Statement of
Recommended Practice for accounting and rèporbng by chartlies lapplicable lo Ehartties preparing their
accounts in accDrdancè wlh thè Financial Reportsng Standard appIl￿ble in the UK and Republic of
Ireland IFRS 102)].
I have no concerns anct have come across no other matters in connection with thè ￿￿MInatiOn to whi
attention Shou￿ be drawn in this report in ordèr to enabl& a proper understanding of the accounts to be reached.
This report is made sol8ly to th6 Chariws Trustees, as a body, In aC￿rdanCe wth Part 4 of the Charities
(Accounts and Reptsrtsl RegU[a￿￿S 2008. My work has been undertaken so that I might stale to the Charitys
Trustees those matters l am required to Statè to them in an Independent Examinerfs Report and for no oth8r
purpose. To the fullest extent pormitted by law, I do not accept or assume restonsibility lo anyone other th8ri the
Charity and thè Charty's Trustees as a body. for my work orfor this report.
Signed..
Dated- 2510912025
stuart MGKay Bsc FCA DChA
MHA Audlt Sgrvl¢es LLP
6th Hoor
2 London Wall Pla
London, United Kingdom
EC2Y SAU
Page 10

MADANIYA
(A Company Limitgd by Guarant991
STATEMENT OF FINANGIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER2024
Unrestri¢ted
fvnds
2024
Totsl
funds
2024
Total
fvnds
2023
Note
Income from:
DonaJons and grants
73A86
73,386
568,082
Total income
73.386
73.386
568.082
Expenditure on:
Charitable activities
119.533
119.533
516. 120
Total expendlturo
119.533
119,533
516. 120
Nèt movement in funds
46,1471
(46,147)
51,962
Rèconciliation of funds:
Total funds brought forwar
Net movemènt in fvnds
51.962
146,1471
51,962
46.147)
51.962
Total funds carried fonvard
5.815
5,815
51.962
The Statement of Financial ActNtknes includes all gains and losses recognised in the year.
The notes on pages 14 to 22 form part of these financial statements.
Pag&11

MADANIYA
IA Company Lirnited by Guarantee)
REGISTERED NUMBER.. 14017708
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2024
2023
2023
Notè
Current assets
Cash al bank and in hand
15,595
57.598
15,595
57.598
Creditors: Amounts f811ing du& wtthin on
year
10
9,7801
(5.636)
Net Current assets
5,815
51,962
Total net assets
5,815
51,962
Charity funds
Unr88th¢tsd fund8
5,815
51,962
Total tunds
5,815
51,962
The Charlty was entitled to exemption from audit undér s8ction 4T[ of the CDtnpanies Act 2006.
The Members hav? not required the company to obtain an audit for the year in question in accordance wÉth
section 476 of Companies Act 2008.
The Trustees acknowledge their responsibiltbes for complying with the requirements of the Aot Wtth respect to
accounting records and preparation of financial ststements.
The financial statem8nts have been prepared in accordance wtth kne provisions applicable lo en￿1¢5 subject to
the small companies regime.
The ffnancial ststements werè approved and authorised for issue by the Trustees and signed on their behaEf by-.
Ayman Asfari
Chalr
Date. N1g9/&2r
The notes on pages 14 to 22 fomi part of these financial stslèmènts.
Page 12

MADANNA
IA Compary Llmitsd by Guarantee}
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notg
Ctsh flows from opèrating actlvltles
Nel cAsh usèd ift operating activitigs
13
142,003)
57,598
Changa In cash and cash equlvalents in the year
Cash and cash equrvalents at the beginning ofthe year
142,0031
57.598
57,598
Cash and cash equivalents at tho end of the yèar
14
15,59S
57,598
The notes on pages 14 10 22 fr)m) part of these financial statements
Page 13

MADANIYA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Genèral inftsm)ation
Madaniya ks a Charttsble Company and Is registe￿d wth the Charity Comm[ss￿n (Charity Registerecl
Number 11916811 and the Regi%trar of Companies (Company Registration England and Wales, Compary
Numbèr.. 140171081.
In thè event of the Charity being wound up, the liabllty in respèct of the guarantee is limited to £1 per
Mgmber of the Charity. The address ol the registèred offi¢e is given in the Charity information on page 1
of thes6 financial ststements. The nature of the Charws op?rations and prinGipal activtiies are detailed in
e Trustees, report.
The signifiGant account[r￿ policie5 applied in thè pr8P8ration of these financial statements are set out
below. These policies have been consistently applies lo all periods presented unless otherwise stated.
Accountlng poli¢ie$
2.1 Basis of preparation of flnanclal $tatsments
Thp financial ststements have been prepared in aeeordan¢e vwlh the Charities SORP IFRS 1021
Accounting and Reporting by Charilies.. Statement of Recommendgd Practice applicable tD charities
preparing their a¢counts in accordance with the Financial Repotting Standard applieable in the UK
and Republic of Imland IFRS 1021, the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 1021 and Ihe Companies Act 2006.
Madanrya meets the definition of a public benefit èntity under FRS 1 D2. Assets and liabilities are
initially recDgnisecl at historical c05t or transaction value unless othprwse stated in the relevant
accountirbg policy.
The financial ststements are presented in sterling which is thè ftJn¢tion81 currency of the Charity and
rounded lo the nearest pound.
22 Golng concÈm
The financial statèmènts have been prepared on a going wncem basis as the Trustees ￿liÈVe that
no material ￿n￿rtainti85 exist. The Trustees havo cDnsidèred the level of funds held and the
expected level of inGOtne and expenditure lor 12 months from 2￿hOrI$l￿9 these ffnancial statements.
The budgeted income and expènditu￿ Is sufficient with the level of reserve5 for the Charty to be able
lo Ctsntinue as a going concern.
2.3 Income
All income is recognised onGe the Charity has entiuemènt to the income, it is probable that the
income will be re￿Ned and th9 amount tsf income re￿rIable can be rnèasured r&liabty.
Grants are included in the StalemeAt Df Fin8nGial Activities on a receNabl8 basis. The balance of
income receThred for specific purposes bLrt not expÉnded during the period is shown in the relevant
funds on tho Balance Sheet. Wher& income is received In advance of entitlement of re￿ipt, its
recognition is defèrrèd and in¢luded in creditors as deferred income. Where enti￿eMent occurs
before income is re￿Ived, the incorll8 IS 8Gcrued.
Page 14

MADANIYA
(A Company Limited by Guarantee)
NOTES TO THE FI￿￿NcIAL STATEMENTS
FOR THEYEAR ENDED 31 DECEMBER 2024
A¢wunting policies {continued)
2A Expenditure
Expenditure is recognis8d On￿ there is a legal or constructFve obligation to transfer economic benefit
to a third party. tt is probable that a transfer of ewnomi¢ bènefits will bè required in setuement and
the amount of the obligatiun can be measured reliably. Expenditure is cjassthed by actNity. The costs
of èach actNty are made up of the total ol direct costs and shared costs, including support Costs
involved in undertaking each activty. Direct costs attnbutable to a slngle a¢tsvtty are alb¢aled d1￿ctlY
to that actroity. Shared costs whlch contribute to mDre than Dnè activity and SUPPDrt Costs which are
not attributsble to a single activity are apportionèd between those activities on a basis consistent with
thè usè of rèsourcès. Central stafF costs are allocated on the basis of time spent, ancl deprectation
charges allocated on the portion of the assèt's use.
Expendttur8 on charitable a¢tivities is in¢urred on direct]y undertaking the aclivthes which further thè
Charivs objectives. as well as any associated support (￿Sts.
All expenditure is inclusive of I￿eCOverable VAT.
2.5 Cash at bankand in hand
Cash at bank and in hand includes cash and short-terni highly liquid investments wth a short maturity
of three months Dr less from the d2t8 of acquisitiDn or opening of the deposit or similar aGcount.
The Charitys bank account was held under the name of the Asfari Foundation who 8r8 acting as
agent until thè chsrity can establish its own accounL
2.6 Liabilities
Liabilitie5 are recognised when there is an obligation at the BalanGe Sheet date as a resum of a past
Èvènt it is probablè that a transfer of economic benefrt will be required in settlement, and the amount
of the setuemenl can be estimated reliabty.
Liabilities are reG￿niSed at the amount that the Chartty arhtifjipates tt wll pay to settle the debt or the
amount it has received as advanced paymènts for the goods Dr services it must provide.
2.7 Financial instruments
The Charity only holds basic flnancial instruments as defined in FRS 102. The financi81 assèts an
financial liabilities of the Charity and their measurement bases are as follows:
D8blors- tr8¢8 and other dgbtors (including accrued inwmo18r8 basic financial inslnJm8nts and #t8
debt instruments meaSU￿d at amottised Cost. P￿paYments are AQt financial instruments.
Cash al bank is classified as a basic finanThal instrumènt and is mÈasurÈd 8t frdce value.
Financial liabiltlies - Ir&de GreditOT5, aGGruals and other creditors are finan￿al instruments. and are
measured at arTh)rt15pd cost as detailed in Note 10.
2.8 Penslons
Thè Charity opèratès 8 definèd contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
Page15

MADANIYA
{A Company Limitèd by Guaranteè)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies {continued)
2.9 Fund accounting
General funds are unrestricted funds whi¢h are availabl& for use at the di%¢r8tion of the Twstees in
furtherance of the general obledves of the Chartty and whl¢h have ngt been dpsignated for other
purposes.
CrÈtlcal accountlng estimates and areas of judgement
Esfjmates and ludgements are wnttnualty evaiuatsd and are based on hlstorlcal experience and other
factors. including expectations of fubJre events that are believed to be reasonable under the
circumstances.
In¢om¢ from donations and grants
Unrestricted
funds
2024
Total
funds
2024
Totsl
funds
2023
Donations
Grants
5.000
68,386
5,000
68,386
568.082
73,386
73,3BS
568,082
Page 16

MADANIYA
(A Company Llmlted by Guarante8)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER2024
Anatysis ot expenditure on charitable activitie5 - by fund
Unro$tri¢ted
funds
2024
Totsl
2024
Tot&1
2023
Charitabl& activities
119,533
119.533
516, 120
Analysis of expenditure on charitable a¢tivitie$ - by type
Activities
undertaken
directly
2024
Support
co$ts
2024
Total
fund$
2024
Charitable activities
62.370
57,163
119,533
AGtivities
undertaken
directly
2023
Support
costs
2023
Tot81
funds
2023
Charitable actwities
345,088
171.032
516. 720
Page 17

MADANIYA
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMEwrs
FOR THE YEAR ENDED 31 DECEMBER 2024
Anaty$is of expenditure on charitable acttvitigs - by type (¢ontinued)
Analysis of support costs
Totsl
funds
2024
Totsl
funds
2023
Staff costs
Legal costs
PayrDII services
Governance costs
Bank charges
Website costs
Sundry costs
rr CDSts
Consultancy
Travel costs
Insurance
30.000
420
699
56.316
fQ,525
748
3,540
1.141
44, 743
486
6,605
17,930
28,362
636
8.130
304
686
2,578
14,346
S7,163
171.032
Govèrnanre costs
2024
2023
Indepenolenl examiners, romuneratlon- current period
Ind8pèndenl examiners. remuneraUon- Prfor year over accrual
Ind8pènd&nl 8xaminers' remur)eration- Prloryear under accwal
6,570
4,500
(gSQ)
1,56D
8,130
3.540
Page 18

MADANIYA
IA Company Llrnlted by Guaranteè}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2024
2024
2023
Wages and salariès
so￿al securrly costs
Pension wsls
56.144
3.398
1,761
84,419
9.263
2,$65
61,303
96,347
The average numbgr of persons employed by the Charity during the year was as follows..
2024
No.
2023
No.
Employ&ès
No employee received r8mun8ratlon amounting to more than £60,000 in either y&ar.
The totsl amount of employee benefits received by Key Management Personnèl was £61,303 (2023
£61,921J. The ChaTtty GOnSiLlers its Key Managemènt Personnèl lo comprise:
CEO
Trustees
Trust¢o$' remuneration and expenses
During tha yaar. no Trustees received any ￿M￿neratIon or other benefits (2023- £NIL).
During the ypar endgd 31 Decèmber 2024, expenses totalling £NIL w8re reimbufsed or paid dir8cty to no
TTUStees (2023- £1.292 to 2 Tmstgesj. Th￿e were in respect of travel costs.
10. CredEtors: Amounts falling due within one year
2024
2023
Other laxalign and soBial security
other creditors
AccruaL%
1440
770
6.570
f, 736
4,500
9.780
5,636
Page 19

MADANIYA
(A Company Limitèd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR TrIE YEAR ENDED 31 DECEMBER2024
11.
statement of funds
Statèment of funds - ¢urrgnt year
Balancs at
31
De¢ember
2024
Balance at 1
January
2024
Income Experkdtturo
Unrestricted funds
Unreslrioted funds
51,962
73.386
1119.5331
5,815
Statement of funds - prior year
Bplan￿ at
31
December
2023
Income Expendkure
Unrestricled funds
Unrestricted fttnds
568.082
(516, 120)
51.962
12. Anatysis of net a￿ets between funds
Anatysb of net assets between funds - rurrent period
Unrestricted
nds
2024
Total
funds
2024
Current 8ssèts
Creditors due within one year
15,595
{9.7801
15,595
19,7801
Total
5,815
5,815
Page 20

klADANiYA
(A Company Limitéd by Guarantèe}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12. Anatysis of net assèts betseen funds (continuèd)
Analysis of n&t assets between funds - prior period
Unrestrict8d
ftinds
2023
Totsl
fvnds
2023
Curffnt assèts
C￿dti0rs due within one year
57,598
f5,636)
5T.598
(5,636)
Total
51,962
51,962
13.
Reconciliatlon of net movamènt in funds to net cash flow from operatlng a¢tivities
2024
2023
Net incomèlexpendriure for the period 18s per Statement of
Financial Actfvitiesl
{46.147)
57,962
Adjustmènts for..
Decrease in debtors
Increaselldecreasel in ¢￿ditorS
12,683
IT,047)
10
4.144
Net cash provlded byllused inl operatlng aCti￿ltieS
142,0031
57.598
14 Analysls of ¢ash and cash equivalents
2024
2023
Cash in hand
15,595
57,598
Total cash and cash èquivalents
15.595
57.599
Page 21

MADANIYA
(A Company Limtted by Guarantèè)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15. Analysis of ¢hanges in net debt
At1
January
2024 Cash flows
At31
December
2024
Cash at bank and in hand
57,598
(42,0031
15.595
57.598
142,0031
15,595
16.
Pension commitments
The amount recognised as an expensè in the year was £1.761 (2023 - £2,565). There was £770 payable
lo th¢ fund at the Balan￿ Sheet date (2023- £NILJ.
17. Rèlatèd party transactions
Thè Truste&, Ayman Asfari is also a Trusteg of The Asfari Foundation. During the year. Grants totalling
7,681 (2023 £477,302J was made by The Asfari Foundation to the Gharty. He also made an
Un￿strICted donation of £5.ODD (2023 - £NIL) to the Charity. As at the y6ar-end, a total of £NIL {2023 -
£NILJ was owèd to th& Charity.
The Asfari Foundation also agrèes to hold their grants on trust for and to the order of Madantwa until a
suitable bank account has been secured to aocept the grant transfer. Accoréingly, Madaniya can dire¢t the
Foundation to make payments to third parties from the allocated grant Dn its behalf.
Page 22