SHINE
SHINE: Support and Help IN Educatlon
Report and Financial Ststements
31 August 2020

SHINE: Support and Help IN Education
REPORT AND FINANCIAL STATEMENTS 2020
CONTENTS
Page
Rofer•nco and administrative detsils
Trust8as' rèport Incorporatlng th8 stratèglc report
2-10
Independent auditorfs report
Consolidated statgment of financial activitigs
(incorporating summary income and expenditure accounti
14
Consolldated balance shoot
16
Company balance sheat
16
Statement of ca8h Ilows
17
Notes to tho account8
18-29

SHINE: Support and Help IN Educatlon
REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES
cameron Ogden
David Blood
Gavin Boyle
Lorna Fitzsimons
Mark Heffeman
Sarah Loftus
Ann Mroz
Lord J O'NeiM
Raksha Pettni
Stephen Shield$
Prof Samantha Twiselton OBE
Chairman
Resigned 16.06.2020
Resigned 16.ce.2020
Appointments m8de since the end of the financial year..
Kavita Gupta
Appointed 15 12.2020
In view of their long Servi￿ and outstanding contributions to the charity since its inception. both David
Blood and Gavin Boyle were appointed as Emeritus Trustees on steppsng down from the Board. There
is no formal legal responsibility attached to this role, but both will remain closely involved with SHINE
into the future.
PATRONS
David Beckham OBE
Sir How8rd Bemstein
Sarah Brown
Prof Gavin Blown
Gavyn Davies, OBE
Prof Chris Day
Sir Alex Ferguson, CBE
Prof Chris Husbands
Sir Alan Langlands
Prof Susan Lea
Anne Longfield
Gary Neville
The Lord O'Donnell, GCB
Sir Peter Ogden
George Osborne
Prof Dame Alison Richard, DBE DL
Nick Robinson
Prof Dame Nancy Rothwell
June Sarpong
Nicola Shindler
Dr Sushil Vvadhwani CBE
CHIEF EXECUTIVE AND COMPANY SECRETARY
Fiona Spellman
OFFICE ADDRESS
bHIN
2 Princes Exchange
Prin￿$ Square
Leeds
LS14HY
BANKERS
Barclays Bank PIC
Epsom Branch
82-84 High Street
Epsom Kr19 8BH
SOLICITORS
Bates, Wells & Brai(hwaite
10 Queen st￿et Place
London EC4R 1BE
AUDITORS
Rees Pollock
35 New Bridge Street
London EC4V 8BW

SHINE: Support and Help IN Education
TRUSTEES, REPORT
The trustees present their annual report and the audited financial slatements for the year
ended 31 August 2020. The report and financial statements havo been prepared in
accordance with the accounting policies sel out in nole 1 to the accounts, and comply with the
charity's governing documents, the Charities Act 2011 and the Statement of Recommended
Practice.. A￿OUntIng and Reporting by Charities {FRS 102) revised 2019.
The trustees who served throughout the last financial year were.. David Blood (resigned
16.06.2020}, Gavin Boyle (resigned 16.06.2020}, Lorna Fitzsimons, Mark Heffernan, Sarah
Loftus, Ann Mroz, Cameron Ogden, Lord O'Neill, Raksha Pattni, Stephen Shields and
Professor Samantha Twiselton. There were no new appointments to the Board during this
year.
In view of their long seNice and outstanding contributions to the charity since its inception,
both David Blood and Gavin Boyle were appointed as Emeritus Trustees on stepping down
from the Board. There is no fomal legal responsibility attached to this role, but both will remain
closely involved with SHINE into the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
SHINE is a registered charity {no.10827771 and a company limited by guarantee {no.
40535091 and is governed by its Memorandum and Articles ofAssociation. The declaration of
trust was made on 17 March 1999 and the charitable company was incorporated on 16 August
2000.
Trustees are appointed by the board of trustees following a iwo-sta9e interview process
including the Chairman and at least one other trustee. The induction process for new trustees
comprises an initial meeting with the Chairman, followed by a formal welcome and induction
meeting with the Chief Executive, at which point the following is provided.. an infomation pack
about SHINE., copies of the original Trust deed and the charitable company's Memorandum
and Articles of Association- copies of the most recent trustees, report and audited financial
statements., and copies ofthe relevant Charity Commission and Companies House guidance
booklets
°The Essential Tmstee.. What you need to know" and "The Directors (and
Secretaries) Guide"
The board of trustees is led by the Chairman who is elected to serve for a term of three years
initially. The board of trustees sets the policy framework for the charitable company and the
Chief Executive leads the staff team in day to day operations. The board also periodically
reviews the policy framework and keeps it up to date so that it remains relevant to the work of
SHINE and the context wrthin which the charitable company is working.
The board allocates responsibility for different aspects of SHINE'S business to a number of
sub-committeeslcluslers (membership of committees is made up of trustees with support from
officers).. the investment and finan￿ cluster, the grant-making cluster and the fundraising
Cluster. These groups report to the full board. The full board meets at least three times each
year. The sub-committees meet on a regular basis throughout the year.
One third of the board of trustees is required to retire by rotation at each AGM meeting, at
which point they may put themselves fonNard for re-appointment to the board.

SHINE: Support and Help IN Education
Related p8rties
None of our trustees receive remuneration or other benefit from their work with the charity. All
trustees and staff must complete a declaration of interest fom upon appointment. The Chief
Executive holds and updates the register of interests on an annual basis. Other than trivial
travel costs reimbursement. no such related paty transactions were reported.
The charity's wholly owned subsidiary, SHINE.. Support and Help in Education Trading
Limited, was established to receive non-charilable income such as sponsorship. The Directors
of the subsidiary are Cameron Ogden and David Blood (resigned 16.06.2020) and Fiona
Spellman is the Company Secretary. Income from the subsidiary is donated to the Charity. As
noted below it has been decided since the year end that the subsidiary is no longer required
by the charity and will therefore be closed in the forthcoming year.
Pay and remun8r8tion
The pay of the Chief Executive is reviewed annually by the Chair. The pay of staff is reviewed
annually by the Chief ExecLrtive. Each year staff will nomially receive a cost of living pay
increase.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Irustees (who are also the directors of SHINE.. Support and Help IN Education for the
purposes of company law} are responsible for preparing the Trustees, Report and the financial
statements in accordance with applicable law and United Kingdom Accounting Slandards
(United Kingdom Generally Accepted Accounting Practice).
Under company law the trustees must not approve the financial statements of the charitable
company unless they are satisfied that they give a true and fair view of the state of the affairs
of the charitable company and of the incoming resources and application of resources,
including Ihe income and expenditure of the Charitable company for that period. In preparing
those financial statements, the trustees are required to..
select suitable accounting policies and apply them consistently..
observe the methods and principles of the Charities SORP.,
make judgements and estimates that are reasonable and prudent..
state whether applicable accounting standards have been followed., and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in business.
The trustees are responsible for keeping proper adequate accounting records thal are
sufficient to show and explain the company's transactions and disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and olher irregularities.
The trustees are responsible for the Maintenan￿ and integrity of the corporale and financial
information included on the charitable company's website. Legislation in the United Kingdom
goveming the preparation and dissemination of financial statements differs from legislation in
other jurisdictions.

SHINE: Support and Help IN Educatlon
STRATEGIC REPORT
OBJECTIVES. ACTIVITIES AND PUBLIC BENEFIT
SHINE was first established in 1999 by a group of committed philanthropists who wanted to
improve th8 attainment of children from low income homes.
Since then, we have invested £32 million in projects benefiting almost 1.4 million children from
over 20.000 schools. 200,000 of these children have been reached by SHINE-funded
programmes in schools; and in addition, almost 1.2 million disadvantaged children have
benefrted from access to SHINE-funded programmes online.
SHINE has identified and helped Io sc8lepUP some of the most successful edu¢ation
programmes in the UK, including the Tutor Trust, Intouniversity, Hegartymaths and Times
Tables Rockstars. We specialise in spotting early po*ential and then helping new innovations
expand across the system.
In 2017, SHINE took a bold decision to relocate out of London 2nd focus on tackling
educational inequality across the Northern Powerhouse, where the need is greatest and where
therè are fewer locally-based funders able to he5p tackle the issue.
SHI NE is run on a number of core principles which underpin everything we do..
SHINE cares deeply about giving children fair chances to succeed in education.
SHINE is passionate about supporting great educational practi￿ to change children's
lives.
SHINE applies business skills to education, supporting rigorous, sustainable
interventions that can be scaled up On￿ proven.
SHINE'S trustees pay for the operating costs of the charity so that 100.10 of all
donations go directly to supporting the children who need it most.
In reviewing our charitable objectives and planning our activities, the trustees of SHINE have
taken into account the Charity Commission's general guidance on public benefit and its
supplementary guidance on the advan￿ment of education for public benefit.
In the Autumn of 2018. SHINE published a strategy framework which sets out our goals to
2025. These are..
1) We will improve the attainment of children from disadvantaged backgrounds across
the Northem Powerhouse.
We wll do this by..
Catalysing an investment of at least £25 million into education across the North.
Raising awareness of the educational barriers facing children from disadvantaged
backgrounds.
Building partnerships with others who share our vision and objectives.
21 We will further the knowledge base of what works in overcoming educational barriers.
We will do this by:
Assessing the impact of everything we do.
Sharing our key successes and learning with the widesl possible audience.
Supporting programmes all over the varied contexts of the North, from urban
crties like Leeds and Newcastle to rural and coastal areas like Cumbria and
Scarborough.

SHINE: Support and Help IN Edu¢atlon
3) We will champion the power of great teaching to change children's lives.
We will do this by..
Supporting inspirational teachers to apply eViden￿-baSed approaches in the
classroom.
Developing teachers as innovalors, helping them to improve the education
system from within.
Building a movement of excellent teachers with a shared belief in the most
disadvantaged children.
ACHIEVEMENTS AND PERFORMANCE
Some of the highlights from the 2019-20 academic year include-.
SHINE held a launch Dinner in Manchester in October 2019, bringing together key
leaders from across the North to unite behind SHINE'S vision to tackle educational
equality.
We invested almost £3 million in new programmes across the varied contexts of the
North. backing teachers to scale-up promising innovations, and targeting specffi¢
areas of the North for more strategic investmenls.
Together with our partners at the Steve Morgan Foundation, we embarked upon Ihe
single biggest partnership in the charity's history., a £2.6 million programme for Right
to Succeed in North 8irkenhead to drive improvements to children's outcomes, from
Cradle to Career. This has been matched by more than £2.5 million from public
resource, making the programme worth £5 million over three and a half years.
We supported more than 500 teachers in their work to help the most disadvantaged
children and respond to their needs through the COVID-19 pandemic.
School closures significantly affected the delivery of SHINE'S funded projects in 2019-
20. We worked with all grantees to agree a flexible approach to milestones and
deadlines and to adapt delivery wherever possible to better meet the unprecedented
circumstances.
Our report against the objectives we set last year is below.
Objective 1 To conduct a review of SHINE'S grant-making in the North thus far and
reshape our strategy as needed in lioht of our learning over the pasttwo years.
SHINE undertook this review in the autumn and spring, with sign-off by the Board taking place
in March 2020.
Through this review we decided lo focus SHINE'S future grant-making on three distinct areas
where we have seen the greatest impact from SHINE'S work in the North so far..
11 Nurturing great ideas developed by teachers and schools in the North. Focusing the
national Let Teachers SHINE competition on achieving impact in the North from the
outset and offering mulli-year funding io competition winners in order to give them
longer to try out ideas before applying to scale-up practi￿.
2) Supporting children in key transition points, where statistically they are currently falling
behind. Backing schools and partnerships of schools to improve outcomes in the pre-
school transition and in the move bemeen primary and secondary school.
31 Working with other5 in areas of greatest need. Proactively instigating partnerships
where we can work on common challenges together in specific geographie5.
We believe that by foctjsing our efforts on these areas of specialism. we can maximise
SHINE'S impact on children in the North.

SHINE: Support and Help IN Education
Objectlve 2 - To launch a new website with more accessible, engaging content which
better reflects SHINE'S new strategy and priortties.
SHINE'S new website went live in November 2019 and we have made signifieant progress in
building our online content, including new videos, relatable stories and a map of all SHINE
programmes. This has already begun to drive additional traffic to the site, wf(h a 49 /0 increase
in new website users in summer 2020 compared to summer 2019.
Objective 3 To raise the profile of SHINE and its grantees as part of changing the
narrative on education in the North.
In 2019-20 we have seen a significant increase in the profile of SHINE and f(s grantees, and
this is enabling us to have a stronger influence on the education debate in the North. COVID-
19 has shone a harsh spotlight on educational inequality, and in particular the dIfferen￿S
between children's experien￿S beyond school.
SHINE'S following on Twitter has grown by 56% in a year, our impressions on Linkedln are up
by over a 1,000 /0, and we have achieved coverage in regional news, television and radio. As
part of our response to the pandemic, we decided to lend our plafform to teachers in the North
who were battling significanl issues through locKdown, and this has enabled us to help share
their stories and experiences as well as our own.
Objectlve 4 - To collaborate with other funding partners to catalyse impact beyond our
own direct capacity and resources.
SHINE has launched a number of new partnerships this year with like-minded philanthropists
who share our commitment to a brighler future for disadvantaged students. Beginning with a
Launch Dinner, Ihat raised over £200,000, we have successfully begun to broaden the ne￿Ork
offundin9 partners around SHINE and to ensure ourwork is able to have a bigger impact than
if we were to work alone.
Objectlve 5 - To catalyse an investment of at least £25 million to education in the North
by 2025.
We have now raised £9 million towards this target, which places us on track for the targels we
sel for this stage in our cycle, desplte the challenges presented by COVID. The need for
SHINE'S work has never been greater, and we are determined to play the biggest role we can
in helping disadvantaged children Ihrough these most dtfficult of times.
FINANCIAL REVIEW
The results for the year are set out on page 14 of the financial statements. The net incoming
resources for the year after net investment gains are £2,084,541 12019-. outgoing resources
£687,431). This is due to significant new multi-year partnerships secured in year, including
almost £3 million in new pledges from two majorfunding partners, a £500,000 repayment of a
grant, and £500,000 in leveraged funds from SHINE'S Founding Trustees to help unlock new
philanthropy in the North. This. combined with SHINE'S expendable endowment value of
almost £5.7 million, places our charity in a robust financial position for the future.

SHINE: Support and Help IN Education
The trustees are grateful to the large number of individuals, companies, trusts and foundations
who have generously supported SHINE in the last year. Our special thanks to the following
partners and supporters in 2019-20".
The Bedford Famity Foundats'on, Dawn Capital, French Huguenot Church of London
Charitable Tru*. the Grace Trust. John Armitage Charitable Trust, John Horseman Trust.
London School of Economics, Nerd Nite, the Ogden Trust, Orbis Investments and Allan and
Gray Philanthropy, Teachers Group Educational Trust, TES and the UBS Optimus
Foundation.
In addition, we are very gratefvl to the Steve Morgan Foundation for co-funding a major
partnership wrth SHINE in North Birkenhead this year.
Principal risks
The trustees have a risk management strategy which comprises.. a full annual review of the
principal risks and uncertainties that the charity and its subsidiary faces, ongoing reviews of
any areas identified as being of higher risk, especially relating io Ihe COVID-19 pandemic, the
establishment of polices, systems and procedures to mitigate those risks, and the
implementation of procedures designed to minimise or manage any potential impact on the
charity should those risks materialise. A summary of the main risks and their mitigation are
outlined below.
Major data protection breach
Policy agreed by the Board
Registered with Information Commissioners Office
Retainer with specialist consultant to uphold compliance
IT security maintained through contractor
Lack of liquidity to tover cash flow needs
Investment policy agreed by the Board
Sufficient levels of liquidity maintained within the overall investment portfolio
Committee meets and reviews cashflow regulady
Intemal Fraud (theft or misappropriation of funds)
Expenditure I cheque signatory authorisation limits sel at the bank and agreed by the
Board
. Annual budget approved by th8 Board, and perfonnance measured vs. the budget at
rogu12r int•rv)14
Written statement of policy and practi￿ on income receipt {donationsl and payment
procedures (invoices, expenses, petty cashl exists, and these prO￿ureS are clarified
during staff induction
.Comprehensive financial records maintained. These are reviewed on a quarterfy basis by the
Finance Cluster who report to the wider Board following each meeting.
Unsatisfactory fundraising returns
Maintsin high standards, brand quality and gocxj reputation through contact with donors
Active involvement of the Board
Broaden the donor base
Vary l expand fundraising approaches l events
Implemenl fundraising plan
Regular reporting to the Board against targ￿S
Fundraising at SHINE is conducted in accordan￿ with agreed policies and procedures as
OLrtlined further below.

SHINE: Support and Help IN Education
Poor returns on SHINE'S investments
Experienced Finan￿ Cluster members
Investments diversified
• Committee meets and reviews performan￿ regularly and meets with the investment
managers as needed to agree future strategies.
In April 2020, Trustees agreed an updated Risk Register to include the key risks posed by
COVID-19. This resulted in the following additional procedures..
Finan￿ Cluster agreed to meel and review SHINE'S investment performance outside
of the main Board meeting structure as needed.
SHI NE slaff agreed to maintain close relationships and contact with key supporters.
SHINE'S Data Protection and Health and Safety policies were updated to cover home
working.
Any additional workload demands on the team were assessed based on the
assumption of 60-70 /0 slaff capacity.
We agreed closer monitoring and support lo existing SHINE grant holders to identfy
key risks for project delivery and mitigate those risks wherever possible. This
included altering payment schedules and increasing grants in some cases.
These mitigation measures were successful in managing the key risks for the charty and the
crisis did not impact on SHINE'S ability to continue its core functions in any significant way.
ReseThes
Excluding restricted funds, the trLSSte8s oversee investments of £5,667,717 {2019:
£5,302,420), the majorty of which comprise the expendable endowment funds. The trustees
regard the level of the endowment as sufficient..
to make up for any shortfall in budgeted income in a particular year,. and
to cover any unbudgeted expenditure whiGh may become necessary.
This policy, which is designed to ensure that SHINE can meet these eventualities in any
financial year, is reviewed by the trustees on a regular basis. Additionally, SHINE'S annual
administrative, management and staff costs will continue to be met in full by donations from
certain trustees and from unrestricted reseNes held in the expendable endowment. This
allows every penny of every non-trustee donation to reach the projects we fund. The financial
$tgtements inGlude donations totglling £340.000 {2019.. £395,000> within reetricted funds
towards these expenses.
Net funds increased by £2,084,541 this year, ending al £6,458.993 compared with £4,374,452
at 31 August 2019. SHINE took the decision to establish a dedicated Fundraising Clusler of
Trustees this year and to add specialist fvndraising capacity to the staffing team. In addition,
we ran an event in October 2019 to help raise awareness and attract new supporters to
SHINE. Our renewed focus on funding partnerships this year have helped SHINE to attract
major gifts from philanthropists who share our passion to help deliver greater fairness in
education. These partnerships have taken SHINE significantly fomards on our ambitions to
catalyse at least £25 million into educalion in the North by 2025.
SHINE received a repaymenl of £500,000 from a previous grantee this year, owing to clauses
in their grant agreement relating to Private Benefit. This has been included in the financial
slatements as part of SHINE'S restricted funds to support future grant payments.

SHINE: Support and Help IN Education
Investment
All monies will be invested in accordan￿ with SHINE'S Articles of Association. The Finance
Cluster monitors the endowment alongside our commitments to funding projects. The trustees
acknowledge that investment market movements could impact the endowment and Ihal this
is not within our control. The committee has overseen the suc￿Ssful management of these
funds through our various fund managers. The Trustees use asset allocation and
diversification to achieve a balance be￿een capital prèservation and capital appreciation.
The estimated total returrt on the investment portfolio, net of fees, for the financial period was
Due to thg volalility of the market resulting from COVID-19, Trustees monitored SHINE'S
investment performance more closely than in previous years to ensure that any ne￿ssary
changes could be expedited quickly rf required. In the event, SHINE'S investments continued
to perform well given the external environment and no suGh Ghanges took place.
On a rolling one-year basis, it is the inlention of the Trustees to hold all monies committed to
projects, net of related co-funding commitments, for the subsequent 12 months in 'safe', liquid
interest bearing bank deposits, short dated gilt-edged or corporate securities, or in funds who
invest in such strate9ies, with a maturity profile reasonably matched to thè disbursement
schedule. The target asset allocation for SHINE'S investments is as follows..
Cash and equivalents
Current income I hedge funds
15-45°/0
Equity related
40-75°/,
Fundraising
SHINE Trust is rggistered with the Fundraising Regulator which is the independent regulator
of charitable fundraising. The Board approved a Strategic Plan (the Plan) in 2019 which
includes the approach we take to fundraising in the organisation. Our approach to delivering
the Plan meets the requirements of the Charity Commission, Fundraising Regulator and
Information Commissioner's Office.
Almost all income generation activity will be done by SHINE'S staff directty or on our behalf
through introductions made by ambassadors and professional advisors. We will also connect
lo potential donor3 and partners through networking and by raising our profile through
communications. When and if we enter into commercial participation arrangements, we will
have formal agreements in place that deal with risks to the charity and ensure transparency.
Some fundraising will be done for SHINE by third parties, for example personal fundraising
challengeslevents, in support of our general cause. When we become aware of such
fundraising acttvities, we give guidance to those undertaking such activities to ensure we, and
they, are compliant.
We will not.. use direct marketing, telephone, doorstep or on-street fundraising,. employ for-
profit agencies to raise income on our behalf,. or share information about donors or supporters
without their express permission.
SHINE maintains records of all complaints re￿iVed during the year. SHINE reports this
information annually to the Fundraising Regulator if requested. No such complaints were
received in the year related to SHINE'S fundraising activities.

SHINE: Support and Help IN Education
PLANS FOR FUTURE PERIODS
The trustees have sel a number of objectives for the following year..
Identify other areas of the North where SHINE could look to make a more strateglc
impact, based on the North Birkenhead model..
Develop a new website for Let Teachers SHINE to promote the competition using
relatable stories from previous winners.,
Build on SHINE'S presence as an influencer in the education debate in the North, and
work with aligned partners to advocate for broader policy changes as needed.,
Continue developing new funding partnerships to Cataly￿ impact beyond our direct
means.,
Update SHINE'S Articles of Association to reflect current best practice in the sector as
described in the Charrty Governan¢e Code,. and
Explore opportunities to add new skills and experience to the B08rd.
In January 2021 the Trustees of SHINE decided to close SHINE.. Support and Help in
Education Trading Limited as the trading subsidiary was no longer in use. It is expected that
the company will be formally struck off in spring 2021.
PROVISION OF INFORMATION TO AUDITORS
Each of the persons who is a trustee at the date of approval of this report confirms that..
so far as the trustee is aware, there is no relevant audit information of which the charitable
company's auditors are unaware-,
the trustee has taken all steps that helshe ought to have taken as a trustee to make
themselves aware of any relevant audit information and to establish that the auditors are
aware of that infomiation.
This confinnation is given and should be interpreted in accordance with the provisions of
section 418 of the Companies Act 2006.
AUDITORS
A resolution to appoint auditors for the nexi financial year will be proposed al the next Annual
General Meeting in Septsmber 2021
This trustees report, which incorporates the Strategic Report, was approved by and signed on
behalf of the board of trustees on 24 March 2021.
Cameron Ogden
Chairman
10

SHINE: Support and Help IN Educatlon
Independent Auditor's Report to the Members of SHINE.. Support and Help IN Education
Opinion
We have audited the financi81 statements of SHINE-. Support and Help IN Education I'the Parent
Company) and its subsidiaries I'the Group'l for the year ended 31 August 2020 which comprise
the Consolidated Statement of Financial Activities (including Consolidated Income and
Expenditure AGcountl, the Consolidated and Company Balance Sheets, the Group and Company
Statement of Cash Flows and the related notes. including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards including Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland, {United Kingdom
Generally Accepted Accountsng Practice).
In our opinion the financial statements..
give a true and fair view of the slate of the Group's and of the Parent Company's affairs as at
31 August 2020 and of the Group's incoming resources and application of resources, including
its income and expenditure, for the period then ended-
have been propedy prepared in accordan￿ with United Kingdom Generally Acceoed
Accounling Practi￿. and
have been prepared in accordance wilh the requirements of the Companies Act 2006.
Basis of opinion
We conducted our audit in accord8nce with International Slandards on Auditing {UKI I'ISAS IUK'I
and applicable law. Our responsibilities under Ihoge standards are further described in the
Audilorfs respongibilities for the audit of the financial slalements section of our report. We are
independent of the Group and Parent Company in accordance with Ihe ethical requirements that
are relevant to our audit of the financial statements in Ihe United Kingdom, incSuding the Financial
Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities i
accordance wrth these requirements. We believe that the audit eviden￿ we have oblained is
sufficient and appropriate to provide 8 basis for our opinion.
Conclusions relating to going concern
We have nothing lo report in respect of the following matters in relation to which the ISAS IUKI
require us to report to you were..
the trustees, use of the going concern basis of accounling in the preparation of the financial
statements is not appropriate", or
the trustees have not disclosed in the financlal slalements any identified material Un￿rtaInlieS
that may cast significant doLJbt about the Group's or the Parent Company's ability lo conlinue
to adopt the going concem basis of accounting for a period of at least twelve months from the
tlate when the flnanclal statements are authoriaed for i¥suE.
Other infomialion
The trustees are responsible for the other information. The other informalion comprises the
information included in the Annual Report, other than the Parent Company and Group financial
ststements and our auditors, report thereon. Our opinion on the Parent Company and Group
financial statements does not cover the other informab'on and, ex￿p1 to the extent otherwise
explicitly stated in our report, we do nol express any form of assurance conclusion thereon.
In connection with our audit of the Parent Company and the Group financial Staten￿ntS. our
responsibility is to read the other infofmation and, in doing so, consider whether Ihe other
information is materially inconsistent with the Parent Company and the Group financial statements
or our knowledge obtained in the audit or otherwise appears to be malerially misstated. If we
identify such material inconsistencies or apparent material misstalenEnts, we are required to
detemine whelherthere is a malerial misstatement in Ihe Parent Company and the Group financial
statements or a material misstatement of the other infomiation. If, based on the work we have
performed, we Conclude that there is a malerial misstatement of this olher informalion, we are
required lo report that fact.
We have nothing lo reFXJrt in this regard.

SHINE: Support and Help IN Educatlon
Independent Auditoi's Report to the Members of SHINE: Support and Help IN Education
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit..
the illforrnalion given in the Strategic Report and the Trustees, Report for the financial year for
which the financial statements are prepared is consistent with the financial slatemenls., and
the Strategic ReFXIrt and the Trustees, Report have been prepared in accordance with the
applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and underslanding of the Group and the Parent Company and their
environment obtained in the Goutse of the audit, we have not identified material misstatements in
the strateg￿ Report or the TTUStees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept by the Parent Company, or returns adequate
for our audit have not been re￿iVed from branches not visited by us., or
the Parent Company financial statements are not in agreement with the accounting records
and returns., or
rtain disdosures of truslees, remuneration specified by law are not made", or
we have not received all the infomiation and explanations we requi￿ for our audit.
Responsibilities of trustees
As explained more fully in the statement of Irustees, responsibilities slalement on page 3, the
trustees (who are also the directors of the Parent Company for the purposes of company lawl are
responsible for the preparation of financial statements and for being satisfied that they give a Iwe
and fair view, and for such internal as the trustees determine is necessaryto enable the preparation
of financial statements that are free from material misstslement, whether due to fraud or error.
In preparing the Group and Parent Company financial statements, the trustees are responsible for
assessing the Group's and the Parent Company's ability to conlinve as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of
ccounting un14XÈ tho trugt4)Oe Oithar intgnd to liquidat• th• Group or th• Pgr•nt Compgny Cjr
cease operations, or have no realistic attemative but to do so.
Auditors, responsibilitie$ for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
whole are free from material misstatement, whether due to fraud or error, and lo issue an auditors,
report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a
guarantee that an audit conducted in accordance with ISAS IUKI will ahmays detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonabty be expected to Influen￿ the
economic decisions of users taken on the basis of these financial statements.
A further description of our resp)nsibililies for the audit of the financial statements is lo(3ted on
the Financial Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibilities. This
description fom)s part of our auditors, report.
12

## **SHINE: Support and Help IN Education** 

Independent Auditor's Report to the Members of SHINE: Support and Help IN Education 

## **Use of our Report** 

This report is made solely to the Parent Company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Parent Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Parent Company and the Parent Company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


Alexander Macpherson (Senior Statutory Auditor) for and on behalf of Rees Pollock, Statutory Auditor 35 New Bridge Street London EC4V 88W 26 March 2021 

13 



SHINE: Support and Help IN Education
Report and Financial State￿Ents 2020
Consolidated Statement of Financial Activities
including Consolidated In(x)me and Expenditure Account
For the year ended 31 August 2020
Expendable
Restrided Endowment
2020
2020
Unrestricted
2020
Total
2020
Total
2019
Note
Incomo and
gxpfynditure account
Ineomè r•soure8s
Incoming resources from
generated fund:
Voluntary income
Gifts and donation$
Investment income
733,950
4,451
4,013,148
4,747,098 1,394,020
4,451
4,198
Total incoming resources
738.401
4.013,148
4,751,549 1.398,218
Resources expended
Costs of generating funds:
Costs of generating
voluntary income
Charitable actlvities:
Granl-making
244,040
244,040
93,381
20.708
2,647,035
2,667.743 2.176,246
Total resources expended
20.708
2,891,075
2.911.783 2.269,627
Net gains on investments
244,775
244,775
183,978
Net Incomellexpenditure)
717,693
1,122,073
244,775 2.084,541
{687,4311
Transfers be￿een funds
1717,6931
717,693
Net movement in funds for
the year
1,122,073
962,468 2,084,541
1687,431)
Total funds brought forward
414,924
3,959,528 4,374,452 5,061.883
Total funds c8r¥ied fonNard 13
1,536.997
4,921,996 6,458,993 4,374.452
All of the above results are derived from continuing activit'es. The charitable company has no other
compfehensive income other than those stated above in the current and preceding year.
Comparative infomiation for the previous financial year is provided at Note 8.
All support Costs, including the salaries of the SHINE staff team, are met by specrfic donations from the
trustees so that all other income goes directty lo grant funding for projects.
The notes on pages 18 10 29 fomi an integral part of these financial stslements.
14

SHINE: Support and Help IN Education
Report and Financial Statements
Consolidated Balance Sheet
As al 31 August 2020
Expendable
Restricted Endowment
2020
2020
Unrestricted
2020
Total
2020
Total
2019
Note
Fixed Assots
Tangible assets
Investments
4,587
4,587
4.965
5,667,717 5,667,717 S,302.420
10
Total fixed 88sets
4.587
5,667,717 5,672,304 5,307,385
Current Assets
Debtors
11
3,152,619
186,846 3,339,465 1,049,336
Cash at bank and in hand
1,089,258
231,556 1,320,814
7%,634
Tot81 current assets
4,241,877
418.402 4.660,279 1.845,970
Llabllltles
Creditors. Amounts due
within one year
12
1869,9531 11,048,434> 11,918,387} {1.701,172}
Net ¢urrent assetsl
3,371,924
(630,032) 2,741.892
144,798
Total assets les$ current
liabilities
3,376,511
5,037.685 8,414,196 5,452,183
CTed(cors". Amounts due after
more than one year
12
11,839,514) 1115,689) 11,955,203) 11,077.731)
Net assots
1,536,997
4,921,996 6,458,993 4,374,452
Thg Funds ofthg Charity
Expendablè endowment funds
Und•&i9natad
Designated
Restricted in¢ome fund8
Unrestricted funds
4,94Q.436 4,840.43S 3,OSQ.S28
72,560
72,560
1,536,997
13
13
1,536,997
414,924
Total charity funds
1,536,997
4.921,996 6,458,993 4,374,452
These financial slalemenls were approved by the Board of trustees on 24 March 2021.
Signed on behalf of the Board of trustees
C8meron Ogden
Chairman
The notes on pages 18 to 29 fomi an integral part of these financial statements.

SHINE: Support and Help IN Education
Report and Financial Statements
Company Balance Sheet
As at 31 August 2020
Expandabla
Restricted Endowment
2020
2020
Unrestrided
2020
Total
2020
To181
2019
Note
Flxed Assets
Tangible assets
Investments
4,587
4,587
4,965
5.667,717 5,667,717 5,302.420
10
Total fixed assels
4,587
5,667,717 5,672,304 5,307.385
Current Assgts
Debtors
3,1 S4,943
186,846 3.341,789 1,051,660
Cash at bank and in hand
1,086,654
231,556 1.318,210
794.030
Total current assets
4,241,597
418.402 4,659,999 1.845,690
Llabilities
Creditors. Amounts due
within one year
12
1869,9531 11,048,434111.918,387} {1,701,1721
Net ¢urr•nt assetsl
3,371,644
(630,D32) 2,741,612
144,518
Total assets les8 curront
3,376,231
5,037,685 8,413,916 5,451,903
Creditors.. Amount5 due after
more than one year
12
11,839,514)
1115,6891 {1,955,2031 (1,077,731)
Net a88ets
1,536,717
4,921.996 6,458,713 4,374,172
The Funds of the Charity
Expèndable 8ndowmenl funds
Undesignated
13
Designated
Restricted income funds
Unrestricted funds
4,849,436 4,849,436 3,959,528
72.560
72,560
1,536,717
13
13
1.536.717
414,924
Total charity funds
1,536,717
4,921,996 6,458,713 4,374,172
In accordance with s408 of the Companies Act 2006, the charity has not presented ils unconsolKlated
stslemenl of financial activities. The net incoming resources forthe charity in the year were £2,084,541
12019 net outgoing £687,295).
These financial statements were approved by the Board of trustees on 24 March 2021.
Signed on behalf of the Board of trustees
Cameron Ogden
hairman
The notes on pages 18 to 29 fomi an integral part of these financial statements.
16

SHINE: Support and Help IN Education
Report and Financial Statements
Statement of Cash Flows
Year ended 31 August 2020
Group
2020
Company
2020
Group
2019
Cornpany
2019
Rg¢on¢iliation of net incomellexp•nditure} to not
cash flow8 from oparating activitios
Net Incomellexpendilure)
2,084,541
2.084.541
1687,4311
{687,2951
Adlustments for
Depreryation of tangible assets
Interest receivable
(Gains) on investments
(Ine￿aSe)IdeCrease in debtors
Increaselldecreasel in creditors
1,457
1,457
1,520
14,451}
14,451)
14,1981
1244,7751 (244,7751 1183,9781
{2.290,1291 (2,290,129) 186.0071
1,094,687
1.094.687
756,507
1,520
14,1981
(183,9781
188,331)
756,507
Nel cash inflow I
loutnowl from operating acts'vilies
641,330
641,330
1203,5871 1205.775}
Cash flow statement
Net cash loufflowl from operating activities
641,330
641,330
{203,5871
{205,7751
Nel cash transferred fromlllo} investment
portfolio
(44,1421
(44.142}
Proceeds on sale of investments
Purchase of fixed assets
Purchase of investments
59,449
59,449 2,035.850
2.035,850
11,0791
11,0791
16,206)
16,2061
117S,5201 {175,520112,005,7011 12,005,701)
Net cash inflow from investing activities
1117,1501 {117,1501 120,1991
120, 1991
Increaselldecreasel in eash
524.180
524.180 1223,7861 1225,974}
Cash and cash equivalents al
1 September 2019
796.634
794,030 1,020,420
1,020,004
Cash and cash equivalents al
31 August 2020
1,320,814
1.318,210
7*,834
794,030
Analysis of cash and cash equlvalonts
Cash at bank and in hand
1,320,814
1,318,210
796,634
794,030
The notes on pages 18 to 29 form an integral part of these financial statements.
17

SHINE: Support and Help IN Education
R&wrt and Financial Statements
Notes to the Financial Statements
Year ended 31 August 2020
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practi￿ leffe¢live 1 January 201SI applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021, Charities SORP FRS 102, the Financia1 Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102} and the Companies Act 2006.
SHINE meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
Initially recognised al historical cost or transaction value. with the eX￿pIlOn of fixed asset
investments, which are re-measured al fair value.
Charitabl• status and general infomiation
SHINE is a charity registered at the Charty Commission and a company limited by guarantee
incorporated in the United Kingdom and registered in England and Wales. The address of the
registered offiee ￿$ provided on page 1 and details of the principal activities are discussed in the
Trustees. Report.
Income accounting policy
All incoming resou￿5 are included in the Statement of Financial Activitses when the charity 18
legally entitled lo the income and the amount be quantrfied with reasonablo a¢¢uracy.
Fund accounting
Unrestricted funds are available for use at the discretion of the liustees in furtherance of the
general objectives of the charitable ¢ompany.
Endowment funds relate lo funds donated where the capital is retained and the income is for use
by the Iruslees in furthering the objects of the charitsble company. W)ere the trustees have a
right lo ulilise capital. these funds a￿ shown as expendable endowments. Vvhere the trustees
have designated such funds for the award of grants, but these have not yel been formally
awarded to specific t￿neficiar18S, they are recognised as designated expendable endowments.
Restricted funds comprise those funds which are subject to specrfic wnditions imrosed by
donors or by the purpose of the appeal. All income and expenditure is shown in the Ststement
of FTnancial Activities.
Judgements and estimat
The accounts are prepared on an accruals basis. Mulli-year grant commrtments are accrued in
full in the financial year that they ar@ awarded.
Resources expended
charitab￿ expenditure comprises expenditure related to the direct furtherance of the company's
charitable objectwes. They include support costs and Ihosg incurred in connection with the
management of the charitable company's assets and organisalional administTalion.
Fundraising activity costs aff those incurred in seeking voluntsry contributions for the charitable
company and in publ￿181n9 the charitsble company.
Grants awarded are shown in the Slalement of Financial Aclivllies, no￿r[h$tandin9 that a
proportion will be paid in future accounting periods and may be condfiional on future performanco
by the grantee.
18

SHINE: Support and Help IN Education
Report and Financial Statements
Notes to the Financial Statements
Year ended 31 Augusl 2020
Accounting policies- continued
Governance costs comprise all costs identified wholly or mainly attributable lo ensuring the public
accountability of the charity and its compliance with regulation. These costs have been allocated
as support costs to fundraising activities and grant administration in proportion to the related stsff
time.
B•$i$ of Consolidation
The financial statements Consolidate thè accounts of SHINE.. Support and Help IN Education and
ts trading subsidiary Trading income relates lo corporate support to Let Teachers SHINE. The
company has taken advantage of the exemption within 408 of the Companies Act 2008 not to
present rts own income and expenditure.
Tanglble flxgd assats
Tangible fixed assets are stated at cost includin9 any incidental expenses of acquiwlion.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a
straight line basis over their expected useful economic lives as follows..
Office equipment
5 years
Subsidiary
The charity operates a wholly owned subsKliary called SHINE-. Support and Help IM Education
Trading Limited, company number 09124560, established in England and Wales.
Investments
Listed inveslmgnts are slated al fair value as at the balance sheet dale. The value of investments
are determined by the valuations submilled monthly by the managers of the individual
investments. The Ststement of Financial Activities includes realised and unrealised gains and
losses arising from the revaluation of the investment portfolio throughout the year. Disclosure is
made in note 10 of the movement in market value of the Investments during the year. The
investments were wholly in Managed Funds.
Other flnanclal Instruments
Other financial instruments arise directty from the company's charitable activities.
All trade and other debtors are initially recognised at transaction value, as none contain in
substance a financing transaction. Thereafter trade and other debtors are reviewed for
impaimenl where there is objective eviden￿ based on observable dats that the balance may be
impaired. No collateral is held against trade and other receivables so the exposure lo credit risk
is the net balan￿ of trade and other debtors after allowance for impaimienl.
The company's cash holdings comprise on demand balan￿S only. All cash is held with banks
with strong external credit ratings. Cash held to meet medium lemi gTant commitments is
classified fixed asset investments as part of the charitable company's expendable endowment.
Trade and other creditors and accruals are initially recognised at transaction value as none
represent a fi'nancing tr8nsaclw)n. They are only derecognised when they are extinguished.
Oporating leases
Rentsls applicable to operating leases are charged to the Statement of Fin8nci81 ActWTlies over
the period in whi¢h Ihg cost is incurred on a slraighl line basis. even if the payments are not made
on Such a basi¢.
19

SHINE: Support and Help IN Educatlon
Repjrt and Financial Statements
Notes to the Financial Statements
Year ended 31 August 2020
Accounting policies- ¢ontinued
Pentsion$
For defined contribution schemes the amount charged lo the Statement of Financial Activities in
respect of pension cos15 and other posl-relirement benefits in the amount of contribution5
payable in the year. Differences beiween contributions payable in the year and Gontribulions
actually paid in the year are shown as either accruals or prepayments in the balance sheet.
Foreign exchange
Monetary assets and liabilities denominated in forei9n currencies are translated into sterling al
rates of exchange ruling at the balance sheet dale. Transactions in foreign currencies are
translated into sterling al the rate ruling on the date of the transaction. Exchange gains and
losses are recognised in the profil and loss account.
Reclasslflcatlon of comparatives
In the prior year governance costs of £62,716 were shown separately on the face of the
Slalemenl of Financial Aclivilies. A reclassification adjustment has been made to the current
year comparatives, with governance eosls now apportioned lo the activities of the charity in
aecordance with the Charities SORP FRS102. Further details are provided in note 5.
This reclassrficalion has no impact on the previously reported net incoming resources or fund
balan￿s.
Investment income
2020
2019
Interest and dividends
4.451
4,198
Trading activities
Unrestricted
funds
2020
Restricted
funds
2020
Total
funds
2020
Total
funds
2019
Charity trading income
Let Teachers SHINE
12,500
Charity trading exponsgs
Bank charges
1137)
12,363
Net income
2020
2019
Nel income is slated after charging..
Auditors, remuneration for audit $ervi¢es
Operating lease costs
Depreciatlon (see note 91
17,700
27,757
1,457
15,800
25,4L
1,520
20

SHINE: Support and Help IN Education
Rewrt and Financial Statements
Notes to the Financial Statements
Year ended 31 August 2020
Total resources expended
Other
direct
costs
Staff
costs
Total
2020
Total
2019
Grants
Costs of gonerating funds
Fundraising activities
Support ￿St$
G0Veman￿ costs allocated
98,580
17,920
12,053
98.580
125,158
20,302
107,238
8,249
76.046
17,335
115,487
128,553
244,040
93,381
Charitable expenditure
Grants
Support costs
Gov8¥nance costs allocAted
2,355,078
2,355,078 1,877,126
277,982
253,739
34,683
45,381
183,198
14.092
94,784
20,591
197,290
2,355,078
115,375 2,667,743 2,176,246
Total
312,777
2,355,078
243.928 2,911,783 2.269.627
The allocation of st8ff costs and governance costs be￿een activities is on the basis of an
apportionment of staff lime.
Tol81 governance costs for the year were £54,98512019.. £62,716).
2020
2019
Grants
Oulslanding Siabililies al 1 September
New giants awarded during the year
Underspends
P21d durino the yéar
2,707,178 1.960,040
2,952,921 1,879,790
175,933)
12,6641
11.740.086) 11.129.988)
Outstsnding liabilities at 31 August
3,844,080 2,707.178
Awards falling due wrthin one year
Awards falling after more than one year
1,888,877 1,629,447
1,955,203 1,077,731
3,844.080 2,707,178
21

SHINE: Support and Help IN Education
Report and Financial Statements
Notes to the Financial Statements
Year ende(131 Augusl 2020
Total resources expended (continued)
Grants.. the trustees lake decisions on applications based on the recommendations of the
8xeculive team. Al grants approved in Ihe period a￿ listed below.
2020
2019
Boromi
15,000 Hegartymalhs @ H & A Learning Lld
Character Counts Easy Peasy
5,000 Right to Succeed
Clapgate Primary School
13,640 Easy Peasy
Lightning Maths
30,469 Allerton High School
Oxford Youth Lab (Right lo Succeed) 2.S61,172 Pakeman School
Spelling Beats CIC
132,652 SEERIH Iuniversity of Manchester)
Sl Paul's C of E Primary School
40,000 Future First
Support Costs for teacher
7,500 NUSTEM (University of Northumbria)
University of Manchester
2,000 Sheffield Hallam University
Watercliffe Meadow Primary School
15,078 Schools North East
Wyvern College
30,410 Learning by Questions
Let Teachers SHINE126 grants)
University of Manchester
Voice 21
Parklands Primary
Arvon
st Mary's, Blackpool
St Edmund's Nursery
Monteney Primary School
Pocklington School and Chatta
Watercliffe School
York City Counci
Pennine Way
GMEEB
Centre for Effective Philanthropy
60.000
26S,798
53.660
23.800
15,000
99,487
25,310
60,761
46,150
138,750
154,117
409,704
20,000
17,732
41,412
31,500
72,952
96,000
80,000
49,178
52,400
56,452
2,2Tt
5,000
1.350
Gros$ award$
2,9S2.921 Gross awards
1.879,790
Le88 - underspends and 8djustsn8nls in respect of previous year award8
Underspends
175,9331
12.6641
Gran15 repaid
Accrual reversal
and other adjustments
1500,0001
{21,9101
Net grants recognlsod
2,355,078
1.877.126
22

SHINE: Support and Help IN Education
Report and Financial Statem8nls
Notes to the Financial Statements
Year ended 31 August 2020
Staff eosls
2020
2019
Wages and salaries
Social security costs
Pension costs
268,211
27,696
16,870
198,626
15,732
10,531
312,777
224,889
Pension costs represent the Gharilable company's contribution lo the defined contribution
personal pension plans of employee8. The number of employees, analysed by function was."
2020
2019
Number
Number
Generating funds
Grant making
Governan
Number of staff who earned between..
£60,001 £70,000 {pro-ratal
Key management personnel received aggregate reMUneral￿n of £72,19812019'. £78.9041 in the
period. This figure is inclusive of salary, social security costs and employer's pension
COntribut￿ns.
Taxation
As a registered charity. SHINE is exempl from taxation of in(x>me and gains falling within Section
505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the
extent these are applied lo its Charitable purposes. No tax charge has aTlSen in the year.
23

SHINE: Support and Help IN Education
Report and Financial staleN￿nts
Notes to the Financial Stalements
Year ended 31 August 2020
Comparats"ve information - statement of financial activities 2019
Year ended 31 August 2019
Expendable
Endowment
2019
Unrestricted
2019
Restricted
2019
Total
2019
Income and expendituro account
Incoming rèsources
Incoming resour¢es from
Voluntsry income
other gifts and donations
Sponsorship
Investment income
117,919
1.276,101
1,394,020
4,198
4,198
Total incoming resources
122,117
1,276,101
1,398.218
Resources expended
Costs of generating funds-
Costs of generating voluntary income
93,381
93,381
Charltable activitiO$'.
G￿nt-rnaking
1,295,904
880,342
2,176,246
Total resources expended
1,295,904
973,723
2.269,627
Net gains on investmen15
183,978
183,978
Nel incomellexpenditurel
Transfers be￿een funds
(1,173,787)
1,173.787
302,378
183,978 1687.4311
11,173.7871
Nel movemer*l in funds for the year
Total funds brought forw8rd
302,378
112,546
{989,8091 {687,4311
4,S49,337 5,061,883
Total funds carried forward
414,924
3,959,528 4,374,452
24

SHINE: Support and Help IN Education
Report and Financial Statements
Noles to the Financial Statements
Year ended 31 August 2020
Tangible assets
Group and company".
Office
equipment
Total
Cost
At 1 September 2019
Additions
21.107
1,079
21,107
1,079
Al 31 August 2020
22,186
22,186
Depreciation
At 1 September 2019
Charge for period
16.142
1,457
16,142
1,457
At 31 August2020
17,599
17,599
Net book value
Al 31 Augu512020
4,587
4,587
At31 Augu$t2019
4,965
4,965
10.
Fixed asset investments
Group and company..
Investments analy81S
2020
2019
Listed inv$
IdomicilÉS
nts and fijnds valued b reference to such investments
Egerton Capital Equity Fund Ilrelandl
Bridges Community Development IBCDI Venture Fund111 {UK}
Magnitude International Class F Icayman Islands)
CF Ruffer Total Return Fund IUKI
Veritas
1,438,593 1,266,587
208,193
278,303
1,076,937 1,040,065
810.157
765,239
1,183,211 1,114,379
Market value of listed investments
4,717,091 4,464,573
Other investments
Blackrock Sleding Liquidity First Ilrelandl
950,626
837,847
Total investments
5,667,717 5,302,420
25

SHINE: Support and Help IN Educatlon
Report and Financial Statsments
Notes to the Financial Stslements
Year ended 31 August 2020
10.
Fixed asset investments- continued
Further analYs￿S of listed investments-.
2020
2019
Market value brought foTward
Purchased during year
Sales I realisalions during year
Net gain on revaluation
4,464,573 4,310,745
8,596 2.005,701
1853112,035,851}
244,775
183,978
Market value at
4,717,091 4,464,573
Historical cost at
3.463,768 3,456,025
Accumulated unrealised investment gains at
1,253,323 1.008,548
Debtors
Group
2020
2019
Prep8ymenls and other debtors
3.339.465 1.049,336
Prepayments and other debtors due within one year are £1,763,61612019.. £757,336) and more
than one year £1.575.849 {2019.. £292,000).
Company
2020
2019
Prepaym8nts and other debtors
3,341,789 1,051,680
Prepayments and other debtors due within one year are £1.765,94012019.. £759,660) and moTe
than one year are £1,575,84912019: £292,000)
26

SHINE: Support and Help IN Education
Report and Financial Statements
Notes to the Financial Statements
Year ended 31 AugLASt 2020
12. Creditors
Group
2020
2019
Grant commitments due within one year
Taxation and social security costs
Other creditors
Accruals
1,888,877 1,629,447
6.984
4,683
3,576
26,863
18,950
40.179
Amounts due within one year
1,918,387 1,701,172
Grant commitments duè after more than one year
1.955.203 1.077,731
Company
2020
2019
Gr8nl commitments due within one year
Taxation and s(Kial security costs
Other creditors
Accruals
1,888,877 1,629,447
6,984
4,683
3,576
26,863
18.950
40,179
Amounts due within one year
1,918,387 1.701,172
Grant commitments due after more than one year
1.955,203 1.077.731
Creditors will be mel from the expendable endowment if th8re are insufficient income funds in
the future.
27

SHINE: Support and Help IN Education
Report and FinanGial Statements
Notes to the Financial Statements
Year ended 31 August 2020
13. Statement of funds
Group
Balance
1 Sept
Incoming Out90ing
2019 resources resources
Net
investment
9ains
Balance
31 August
2020
Transfers
Expendable
Endowment..
Undesignaled 3,959,528
Oesignated
Restricted funds..
Operating and
projects
Unreslricled funds
244,775
645,133 4.849.436
72,560
72,560
414,924 4,013,148 12,891,075)
738.401
120,7081
1,536,997
1717,693)
Total funds
4,374,452 4,751,549 12,911.7831
244,775
5,458,993
Company
Balance
1 Sept Incoming Outgoing
2019 resources
resources
Net
investment
gains
Balance
31 August
2020
Transfers
Expendable
Endowment..
Undesignaled 3,959,528
Designated
Restricted funds..
Operating and
projects
Unreslri¢led funds
244,775
645,133 4,849,436
72,560
72,560
414,644 4,013,148 12,891,075)
738.401
120.7081
1,536,717
1717,6931
Total funds
4.374.172 4.751.S49 12.911.783)
244.775
6.458.712
Included within the expendable endowment in both the Group and Company are nel unrealised
gains and losses on the revaluation of fixed asset investments. Details are shown above in note
10.
The designated expendable endowment balance relates to funds designated for grants by the
trustees al the balance sheet date, bul not formally awarded lo Sp￿LfiC beneficiaries.
28

SHINE: Support and Help IN Educatlon
Report and Financial Statements
Notes to the Financial Slatements
Year ended 31 August 2020
14. Trustees and related paty disckjsures
During the period the charity received £Nil12019.' £12.5001 in donatsons from SHINE.. Support
and Help IN Education Trading Limited, its subsidiary company.
During the pellod the Charity received £340,00012019-. £395,000) in donations from Irust8es and
honorary Offi￿ holders. One trustee was reimbursed for travel and subsistence expenses
totalling £53312019.. £1,013).
Financial commitments
Annual eommitments under nOrt-cancellab￿ operating leases are as follows..
Land and building8
2020
2019
within one year
31,200
31,200
29