_Saeed Foundation SCIO_ ## **Saeed Foundation SCIO** Annual Report & Financial Statements for y/e 31 January 2024 Page 1 of 4 _Scottish Charity No. SC074552_ _Saeed Foundation SCIO_ ## **Trustees’ Annual Report for y/e 31 January 2024** The trustees are pleased to present their report together with the financial statements for the year ended 31 January 2024. ## **Reference & Administrative Information** Charity Name: Saeed Foundation SCIO Charity No: SC051533 Address: ## **Structure, Governance & Management** Constitution The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered in its current legal form on 24 January 2022. ## **Objectives and Activities** Charitable purposes The advancement of education. ## Activities The charity has been setup to provide targeted assistance, help and advice to support small, local community projects and family run schools in developing countries. ## Achievements and Performance We’ve had our first successful fundraising campaign during 2023/24. ## **Financial review** Our main source of funding is family and friends. Our intention is to use all funds generated to further our charitable purposes. ## Reserves policy The trustees’ policy is to retain 6 months’ worth of normal running costs in order to meet commitments and to cover any unexpected expenditure. The trustees believe that this is an acceptable range but will continue to monitor the position. ## Plans for future period The trustees intend to continue their fundraising efforts, expand community outreach and develop projects and services to further our charitable purposes, i.e. the advancement of education in line with our constitution. Page 2 of 4 _Scottish Charity No. SC074552_ _Saeed Foundation SCIO_ ## **Statement of Receipts and Payments for y/e 31 January 2024** |**Unrestricted**
**Restricted**
**Funds**
**Funds**
**RECEIPTS**
Donations
1000
-
Grants
-
-
Fundraising
-
-
Bank interest
-
-
**Total receipts**
1,000
0
**PAYMENTS**
Fundraising costs
-
-
Cost of charitable activities
-
-
Governance costs
-
-
Purchase of equipment
-
-
**Total payments**
0
0
Surplus/(Deficit) for the year
1,000
-
Transfers between funds
-
-
**Surplus/(Deficit) for the year**
1000
0
**Statement of Balances - as at 31 January 2024**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
Opening cash at bank and in hand
-
-
Surplus/(Deficit) for the year
1,000
-
**Closing cash at bank and in hand**
1,000
-
**Bank and Cash Balances**
Bank / Cash Deposits
1,000
-
Savings
-
-
**Total**
1,000
-
**Other Assets (Unrestricted Fund)**
**Liabilities (Unrestricted Fund)**|**Unrestricted**
**Restricted**
**Funds**
**Funds**
1000
-
-
-
-
-
-
-|**Year ended**
**Year ended**
**31/01/2024**
**31/01/2023**
1,000
0
0
0
0
0
0
0| |---|---|---| ||1,000
0|1,000
0| ||-
-
-
-
-
-
-
-|0
0
0
0
0
0
0
0| ||0
0|0
0| ||1,000
-
-
-|1,000
0
0
0| ||1000
0|1000
0| |||**Year ended**
**Year ended**
**31/01/2024**
**31/01/2023**
1,000
0
0
0| ||1,000
-|1,000
0| ||1,000
-
-
-|1,000
0
0
0| ||1,000
-|1,000
0| |||| |||0
0| |||| |||0
0| Page 3 of 4 _Scottish Charity No. SC074552_ _Saeed Foundation SCIO_ ## **Notes to the accounts for y/e 31[st] January 2024** ## 1 Basis of accounting These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). ## 2 Nature and purpose of funds Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. The trustees maintain a single unrestricted fund for the day-to-day running of the charity. Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes. ## 3 Related party transactions No expenditure is reported for 2023/24. No other remuneration was paid to the trustees or any connected persons during the year 2023/24 (2022/23:Nil). ## 4 Donations We’ve had our first successful fundraising campaign during 2023/24, as a result of which we have managed to raise £1,000 from family and friends. ## 5 Cost of charitable activities No expenditure is reported for 2023/24 (2022/23:Nil). ## 6 Governance costs No expenditure is reported for 2023/24 (2022/23:Nil). ## 7 Transfers between funds There have been no transfers from Unrestricted to Restricted Funds and vice versa. Page 4 of 4 _Scottish Charity No. SC074552_