SOPHIA AKASH FOUNDATION CIO
Facilitating sustainable paths out of poverty through new technologies, sustainable business practices, scalable and replicable techniques, and allied expert interventions. The charity itself is likely to principally operate at a strategic level, working with implementation partners and using its proposed subsidiary implementation arm to promote and deliver its charitable objects on the ground.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net outgoing of £6,871 for the year, resulting in unrestricted reserves of £47,819, which exceeds the stated minimum policy target of £20,000. The trustees confirm there are no material uncertainties regarding the charity's ability to continue operating on a going concern basis. Total income of £71,708 was insufficient to cover total expenditure of £78,579, leading to a decrease in total net assets from the previous year.
What the accounts disclose
“The Board of Trustees has approved and maintained the Foundation’s reserves policy so that the Foundation maintain a minimum reserve of £20,000.” — page 10
“The Foundation holds 100% of the share capital of Sophia ApS, however it is exempt from preparing group accounts as group turnover is below the threshold for consolidated accounts as determined by the Charities Act 2011.” — page 16
Trustees
- SHAILENDRA PATELchair
- HEMANT PATEL
- Stefano Cappanari
- WILLIAM WALTER HOPKIN
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £72k | £79k |
| 31/12/2023 | £85k | £83k |
| 31/12/2022 | £86k | £87k |
| 31/12/2021 | £171k | £121k |
| 31/12/2020 | £138k | £106k |
Common questions
Is SOPHIA AKASH FOUNDATION CIO financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net outgoing of £6,871 for the year, resulting in unrestricted reserves of £47,819, which exceeds the stated minimum policy target of £20,000. The trustees confirm there are no material uncertainties regarding the charity's ability to continue operating on a going concern basis. Total income of £71,708 was insufficient to cover total expenditure of £78,579, leading to a decrease in total net assets from the previous year. Its FY2024 accounts were independently examined.