The trustees present their report and financial statements for the Period ended 31 December 2020.
The Charitable company was incorporated on 5 September 2019 as Sahan Foundation International. The Charitable company changed its name to Sahamiye Foundation on 13 October 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Overview of activities
Education
Sahamiye Foundation (the Foundation) seeks to double Somaliland’s literacy rate from 45% to 90% by 2023 by helping adults and young people acquire literacy skills in the Somali language..
The Foundation has developed and launched Daariz , a free, fun and easy-to-use app that helps people with low literacy skills to learn the Somali language. Learners simply install Daariz for access to hundreds of enjoyable lessons, tests, and activities, as well as a library of engaging short texts and stories. Learners don’t need internet access once they download the app and can therefore learn anywhere and at any time
Health
To support Somaliland’s response to the COVID-19 pandemic, the Foundation donated PPE and COVID-19 laboratory testing equipment and kits to help strengthen capacity and support healthcare workers across Somaliland.
The Foundation has also distributed 2.5 million facemasks, donated by the founding trustee Ismail Ahmed during the first wave of the pandemic.
Detail of the Objectives and activities of the charity for the period
The Foundation will leverage new technologies and entrepreneurial approaches to help:
Prevent or relieve poverty for the public benefit in Somaliland by providing or assisting in the provision of education, healthcare, and infrastructure projects along with the necessary support required to enable individuals to generate a sustainable income and become self-sufficient.
Advance the education of students of all ages in Somaliland by providing and assisting in the provision of facilities, staff, and supplies for schools and training centres.
Preserve and protect the health of the residents of Somaliland through our charitable objectives of using new digital technologies and entrepreneurial approaches that are consistent with funding principles and programs already implemented by the World Bank in Somalia—including Somaliland—and the UK in Somaliland. The Foundation will collaborate and partner with these organizations and, where feasible, share research, information, and best practice.
The Foundation's activities during the period were as follows:
Education
Developed two Somali language learning courses, working with expert Somali language teachers: Level 1 is for complete beginners - it includes the alphabet, letter sounds and combinations, simple words and short sentences; Level 2 is for those who have some knowledge of the language but want to improve their skills - it includes writing, sight reading and comprehension.
Built a global network of experts, including product UI/UX designers, product manager, app developers and in-field testers to develop and launch Daariz , a free mobile app, based on lessons learnt from behavioural insights and best practices in language learning pedagogy
Developed and launched Daariz, for teaching learners step-by-step to identify the letters of the Somali alphabet, understand letter sounds and combinations, read Somali words and sentences. Daariz is avaliable on the Play Store (for Android platform) and App Store (for Apple iOS platform).
Conducted baseline research to identify projects for improving adult literacy using mobile and digital technologies for instance:.
Conducted research to identify motivational and cognitive obstacles preventing adults and young people with low literacy skills from mastering and retaining what they learn.
Health
Conducted extensive research to source, procure, deliver and distribute PPE and COVID-19 laboratory testing kit to the Ministry of Health in Somaliland, Hargeisa Group Hospital and primary healthcare centres.
Achievements for the period:
Helped the main reference laboratory in Hargeisa obtain the PCR and testing kit it needed to make COVID-19 testing more widely available.
Supplied rapid testing equipment to labs in Somailand's main towns
Distributed 2.5 million face masks
Developed and launched Daariz a digital learning platform that provided access to Somali language learning material via basic smartphones, with the aim to reach one million learners.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Sahamiye Foundation Trustees are aware of the risks associated with working internationally, and familiar with the Charity Commission's Compliance Toolkit for guidance on how to manage risk when working abroad. Ismail Ahmed has experience working in African regions and will assist the Trustees in identifying and managing those risks, enabling them to make informed strategic and operational decisions.
The charity is a company limited by guarantee formed by the governing documents being the Memorandum and Articles of Incorporation dated 5 September 2019 and amended on 5 November 2020 .
The trustees, who are also the directors for the purpose of company law, and who served during the Period and up to the date of signature of the financial statements were:
Trustees:
Ismail Ahmed – Co-founder and Director
Hayat Arteh – Co-founder and Director
Shibani Kaushik – Director
All trustees are responsible for the general control and management of the Foundation. Ismail Ahmed and Hayat Arteh are responsible for overall investment strategy. Shibani Kaushik is responsible for operations and other general management activities.
The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The trustee's r eport was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Sahamiye Foundation (Formerly Sahan Foundation International) (the charity) for the Period ended 31 December 2020.
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The statement of financial activities includes all gains and losses recognised in the Period.
All income and expenditure derive from continuing activities.
Sahamiye Foundation (Formerly Sahan Foundation International) is a private company limited by guarantee incorporated in England and Wales. The registered office is 30 City Road, London, EC1Y 2AB.
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Resources expended are recognised in the period in which they are incurred and accounted for on an accruals basis.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements, including legal, accounting fees and costs of board meetings.
Where possible costs are allocated directly to the activities to which they relate. Support costs are allocated between charitable activities based on the apportionment of direct costs.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
PCR safety materials
Covid Lab Equipment
Accountancy fees
Legal and professional fees
Foreign exchange
Bank charges
Amortisation
Reallocation
During the period ended 31 December 2020 donations totally £537,267 were received from Ismail Ahmed, a trustee of the Charity.
The average monthly number of employees during the Period was: