STARFISH GREATHEARTS FOUNDATION (company number 4528018 – a company limited by guarantee)
(Charity Number 1093862)
Report of the Trustees and unaudited Financial Statements for the year ended 31 March 2025
www.starfish-greathearts.org
THE STARFISH STORY THAT INSPIRES US
An old man has a habit of early morning walks on the beach. One day, as he looked along the shore, he saw a human figure moving like a dancer. As he came closer he saw that it was a young woman and she was not dancing but was reaching down to the sand, picking up starfish and very gently throwing them into the ocean.
“Young lady”, he asked, “Why are you throwing starfish into the ocean?”
“The sun is up, and the tide is going out, and if I do not throw them in they will die.”
“But young lady, do you not realise that there are miles and miles of beach and starfish all along it? You cannot possibly make a difference.”
The young woman listened politely, paused, and then bent down, picked up another starfish and threw it into the sea, past the breaking waves, saying:
“It made a difference for that one.”
(Adapted from the story “The Star Thrower” by Loren Eisely)
CONTENTS
About us………………. .................................................................................... 1 Looking back at 2024-5 ............................................................................... 3 Independent Examiners Report .................................................................. 6 Statement of Financial Activities ................................................................. 7 Balance Sheet ..............................................................................................8 Notes to the Financial Statements at 31 March 2025 ................................. 10
Registered as a charity in England and Wales. Registered charity number: 1093862
www.starfish-greathearts.org
ABOUT US
Constitution
Starfish Greathearts Foundation (“Starfish UK”) is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Registered Company Number: 4528018. Registered Charity Number:1093862
Patrons
Dame Janet Suzman Sir Mark Moody-Stuart
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. The Trustees who served during the year and since the year end were as follows:
Edward Cottrell (Chair) Matthew Houlton Chris Kotze Danielle Olivier Rachel Pillai Ursula Schliessler James Siswick
Board of Advisors
The Board of Advisors are not Trustees but serve as advisors to the Trustees. The Board of Advisors are drawn from respected members of the community in the United Kingdom.
John Lazar Paul Seligman Hendrik du Toit
Management
Elinor Middleton – Chief Executive Officer
Company Secretary
Matthew Houlton
Independent Examiner
Danny Burke ACMA 17 Queens Road Uxbridge Middlesex UB8 2NN
Bankers
Metro Bank, One Southampton Row, London, WC1B 5HA
Solicitors
Legal advice is sourced where needed on a pro bono basis from a firm regulated by the Solicitors Regulation Authority.
Registered office
111 St Mary Graces Court, Cartwright Street, London, E1 8NB
Registered as a charity in England and Wales. Registered charity number: 1093862
1
www.starfish-greathearts.org
Our Vision and Mission
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Starfish UK exists to change the lives of orphaned or vulnerable children in communities affected by HIV and/or poverty in South Africa.
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Our vision is a future where vulnerable children receive the life, hope and opportunities they deserve.
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• Our mission is to empower people to deliver professional and sustainable services to orphaned or vulnerable children in communities affected by HIV and/or poverty in their communities.
How do we achieve our goals?
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We raise and distribute funds to run programmes in South Africa.
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We strengthen the capacity of community-based organisations to provide quality care to children with a holistic focus on health, wellbeing, education and child protection.
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We work with local partners to identify innovative solutions to meet the changing needs of their communities.
Our reach in 2024-5[1]
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23,673 children supported
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2,257 home visits conducted
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22,938 children consulted through the Wellness Wagons
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735 children attending Early Childhood Development programmes (ECD) · 282,629 meals served
1 Figures for total reach funded by Starfish chapters in USA, UK and SA.
Registered as a charity in England and Wales. Registered charity number: 1093862
2
www.starfish-greathearts.org
Looking back at 2024-5
Dear Friends and Supporters,
As we reflect on the past year, we are filled with deep gratitude for your unwavering commitment to our mission. Your support has empowered us to continue transforming the lives of vulnerable children across South Africa—children affected by HIV, poverty, and systemic inequality. Together, we have advanced our work in Early Childhood Development, Nutrition, Health, and Social Services, laying the foundation for brighter futures.
In 2024–25, we expanded our reach through strategic partnerships with Community-Based Organisations (CBOs). These collaborations remain central to our holistic approach, enabling us to deliver meaningful support to children and their families in underserved communities.
Education remains the heartbeat of our work. Through joint efforts, we’ve built crèches, trained teachers, and strengthened early learning programmes—ensuring that young minds receive the nurturing care and foundational education they deserve.
Nutrition is another cornerstone of our impact. We’ve transformed our distribution model, now serving over 30,000 nutritious meals each month—delicious, balanced dishes that fuel growth and learning. Our new cookbook, based on the South African Department of Health Guidelines, has guided training for kitchen staff across our network. By sourcing fresh, local ingredients, we’ve not only improved children’s health but also supported economic sustainability in rural areas.
Healthcare initiatives have grown significantly. Our mobile clinics and static facilities, in partnership with local providers, have expanded access to essential services—immunisations, routine check-ups, and treatment for common illnesses. This year, we placed special emphasis on mental health , recognising its vital role in helping children heal from trauma and build resilience.
Social services are integral to our model. Through CBOs specialising in family support, counselling, and outreach, we’ve provided critical resources to families facing economic hardship and social challenges. By addressing these root causes, we help create stable environments where children can truly thrive.
We’ve also embraced innovation in service delivery—exploring new methodologies and technologies to enhance programme effectiveness. Our real-time reporting tool, REDCap, has enabled rigorous impact evaluation across education, health, and social well-being. These insights help us refine our approach and contribute to the broader field of child development, inspiring replication of successful strategies at scale.
None of this would be possible without you. This year, we’ve seen exceptional support from Trusts and Foundations, and together we’ve made a tangible difference in the lives of thousands of children—offering hope, opportunity, and the chance to reach their full potential.
Looking ahead, we are energised by the possibilities. We remain committed to innovation, collaboration, and community empowerment as we work to deepen our impact and expand our reach. Thank you for being an essential part of the Starfish Greathearts Foundation family. Your partnership fuels our passion and strengthens our resolve—because together, we are building a brighter, more just future for every child in need.
With heartfelt thanks,
Elinor Middleton CEO Starfish Greathearts Foundation UK October 13 2025
Registered as a charity in England and Wales. Registered charity number: 1093862
3
www.starfish-greathearts.org
FINANCIAL REVIEW
Related Parties
A sister charity to Starfish UK is registered in South Africa as a non-profit organisation and Section 21 company and is referred to in this report as “Starfish SA”. Starfish SA was established by founding members of Starfish UK with the express purpose of sharing the Starfish UK vision in South Africa and enabling delivery to the children we support. Projects supported by Starfish UK are mainly identified, managed, monitored and evaluated by Starfish SA.
Additionally, Starfish Greathearts Foundation USA (“Starfish USA”) is a corporation and is registered as a charitable organisation under Section 501(c)3 of the US Internal Revenue Service (EIN 20-3622548). The teams share the same Starfish vision and deliver their work through Starfish SA and additional partners. These charities are not under common control with Starfish UK and so not consolidated in these financial statements. There is, however, a Global Steering Committee in place to provide oversight and ensure good governance across the Starfish entities.
Policy on Reserves
Income is split between funds restricted by donors or unrestricted funds. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. This may be a specific project, geographic area or type of work such as health, education or child protection services. Unrestricted funds have been split into Operational Reserves, the Designated Projects Fund and the residual unrestricted funds.
Operational Reserves
The Trustees closely monitor the level of Operational Reserves available to ensure there is sufficient financial flexibility in place. The Trustees’ policy is that there should be Operational Reserves of approximately £60,000 (2024: £60,000) so as to cover at least six months of staff and administration costs. The remaining Unrestricted Reserves available at 31 March 2025 were £51,243 (2024: £42,710).
Designated Projects Fund
The Trustees review the charity's need for project reserves annually in line with the guidance issued by the Charity Commission. From time to time the Trustees make transfers into this Fund to ensure projects we have committed to, or plan to commit to, continue to be fully supported if our annual income targets are not reached. The Fund balance is currently £114,829 (2024: £134,623).
Grant Making Policy
Available funds raised by Starfish UK are remitted to Starfish SA or directly to our partner CBOs. The granting of funds is determined by the Trustees in line with the organisation’s key programme objectives, and is based on a request from Starfish SA or a partner CBO, approval by Starfish UK Trustees based on a set of funding criteria, as well as adequate compliance by the project partner in regards to auditing and reporting.
Investment Policy
Under the Memorandum and Articles of Association, Starfish UK has the power to make any investment which the Trustees see fit. Starfish UK aims to achieve an acceptable sterling investment return whilst ensuring sufficient cash is available to meet the operating costs of Starfish UK and project commitments. Starfish UK aims to minimise currency risk associated with project commitments as and when clarity exists as to the terms and timing of amounts to be transferred. Starfish UK has its primary banking relationship with Metro Bank. Surplus cash funds are placed with Metro Bank and other Financial Services Compensation Scheme (FSCS) approved banks in the UK. Interest received from these placements during the year was £13,068 (2024: £1,944).
Trustees’ Responsibility in Relation to the Financial Statements
Company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:
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Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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State whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements and
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
Registered as a charity in England and Wales. Registered charity number: 1093862
4
www.starfish-greathearts.org
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. They have approved a schedule of periodic disbursements to project partners in South Africa for the period to 31 March 2026.
Future Plans
As we continue to refine our model—drawing on best practices and deep engagement with sector experts—we remain confident in our ability to attract new donors who share our passion and commitment. The ongoing support from our existing donor community is a powerful testament to the founding values of Starfish Greathearts Foundation and to the belief that every individual can make a meaningful difference.
Looking ahead, we will focus on growing income through charitable trust, foundation, and corporate partnerships, while also strengthening support for our dedicated team of individual fundraising volunteers. Their energy and advocacy are vital to sustaining and expanding our impact.
These financial statements have been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies.
……………………. Edward Cottrell Chair, on behalf of the Trustees October 13 2025
Registered as a charity in England and Wales. Registered charity number: 1093862
5
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Independent Examiner's Report to the Trustees of Starfish Greathearts Foundation UK
Respective responsibilities of Trustees and examiner
The charity's Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met.
The Examiner's relevant professional qualification or body is: Chartered Institute of Management Accountants
SE A ee[ee] a
________ Danny Burke ACMA, 17 Queens Road Uxbridge Middlesex UB8 2NN
Date: October 15 2025
Registered as a charity in England and Wales. Registered charity number: 1093862
6
www.starfish-greathearts.org
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2025
(including Income and Expenditure Account)
________________
For the year ended 31 March 2025
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | Total | Total | ||
| Year ended | Year ended | Year ended | Year ended | ||
| 31 Mar | 31 Mar | 31 Mar | 31 Mar | ||
| Notes | 2025 | 2025 | 2025 | 2024 | |
| £ | £ | £ | £ | ||
| Incoming resources | |||||
| Donations | 2 | 99,399 | 212,498 | 311,897 | 315,577 |
| Activities for generating funds: | |||||
| - Starfish events | 3 | 22,294 | - | 22,294 | 18,670 |
| - Interest Received | - | 13,068 | 13,068 | 1,944 | |
| Total incoming resources | 121,693 | 225,566 | 347,259 | 336,191 | |
| Resources expended | |||||
| Costs of generating funds | 4 | 46,234 | - | 46,234 | 42,866 |
| Charitable expenditure | |||||
| - Funding Starfish projects | 5 | 36,522 | 189,276 | 225,798 | 162,861 |
| - Activities within the UK | 5 | 48,973 | - | 48,973 | 46,831 |
| - Governance Costs | 5 | 1,225 | - | 1,225 | 1,224 |
| Total resources expended | 132,954 | 189,276 | 322,230 | 253,782 | |
| Net increase/(decrease) in funds | (11,261) | 36,290 | 25,029 | 82,410 | |
| Fund Balances Brought Forward | 12 | 237,333 | 143,189 | 380,522 | 298,112 |
| Fund Balances Carried Forward | 12 | 226,072 | 179,479 | **405,551 ** | 380,522 |
All results were derived from continuing activities. There were no recognised gains or losses for the year ended 31 March 2025. The comparative split between restricted and unrestricted funds in 2024 is shown in note 14. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 10 – 18 form part of these financial statements.
Registered as a charity in England and Wales. Registered charity number: 1093862
7
www.starfish-greathearts.org
| BALANCE SHEET | |||
|---|---|---|---|
| as at 31 March 2025 | |||
| Current Assets | Notes | 2024/2025 | 2023/2024 |
| 31 March 2025 | 31 March 2024 | ||
| Debtors | 10 | 4,468 | 4,505 |
| Cash at Bank | 402,047 | 376,757 | |
| 406,515 | 381,263 | ||
| Creditors: Amounts falling due within one year | 11 | 1,225 | 1,225 |
| Net Current Assets | 405,290 | 380,038 | |
| Intangible Assets | |||
| Development Costs | 9 | 2,959 | 2,959 |
| Development Costs Written Off | (2,959) | (2,959) | |
| Fixed Assets | 9 | ||
| Computer Equipment - Cost | 2,336 | 2,336 | |
| Computer Equipment - Accumulated Depreciation | (2,075) | (1,851) | |
| Total Assets Less Current Liabilities | 405,551 | 380,522 | |
| Income funds | |||
| Unrestricted | |||
| Operational Reserves | 12 | 60,000 | 60,000 |
| Designated Project Fund | 12 | 114,829 | 134,623 |
| Unrestricted Reserves | 12 | 51,243 | 42,710 |
| Restricted Reserve | 12 | 179,479 | 143,189 |
| **405,551 ** | 380,522 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
Registered as a charity in England and Wales. Registered charity number: 1093862
8
www.starfish-greathearts.org
The Trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for:
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a ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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b preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Approved on behalf of the Board of Starfish Greathearts Foundation UK.
……………………… Edward Cottrell Date: October 13 2025
Chair
Registered as a charity in England and Wales. Registered charity number: 1093862
9
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NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025
1. Accounting policies
Basis of Preparation
The financial statements have been prepared in accordance with the historical cost convention, the Companies Act 2006, the Statement of Recommended Practice (SORP), and applicable UK accounting standards.
Fund Accounting
Unrestricted Funds
Unrestricted Reserves are available for use at the discretion of the Trustees in furtherance of the general objectives of Starfish UK and have not been restricted for other purposes by donors. Designated Projects Fund and Operational Reserves are both subsets of unrestricted funds that have been designated by the Trustees. For more details please see our reserves policy on page 4.
Restricted Funds
Restricted funds are to be used in accordance with specific restrictions imposed by donors. The aim and use of the restricted funds are set out in the notes to the financial statements.
Income
All income is accounted for on a receivable basis.
Donations
Donations are received from individuals and corporations. Starfish UK reclaims Gift Aid from His Majesty’s Revenue & Customs where appropriate documentation has been received from the donor.
Starfish UK Events
Funds raised from Starfish UK events are accounted for on a receivable basis and are stated on a gross basis as expenses related to these events are included in expenditure.
Expenditure
All expenditure is accounted for on an accruals basis and, in accordance with the requirement of the SORP, has either been classified directly to or allocated as appropriate support costs over the Foundation’s two main activities under the SORP of:
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Cost of raising funds
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Charitable activities
Grants Policy
All available funds raised by Starfish UK are remitted to Starfish SA and partner CBOs based on alignment with our project funding strategy.
Statement of Cash Flows
A statement of cash flows has not been prepared as Starfish UK qualifies as a small company and is therefore exempt from the requirements to produce a statement of cash flows.
Donated Services
Donated services are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised when there is no financial cost borne by a third party.
Interest Received
Interest is included when receivable by Starfish UK.
Tangible Fixed Assets
Computer equipment purchased during the year is capitalised and depreciated on a straight-line basis over the estimated useful life of three years. Software development costs that meet the requirements for capitalisation are depreciated on a straight line basis over the estimated useful life of three years.
Registered as a charity in England and Wales. Registered charity number: 1093862
10
www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
Foreign Exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities.
2. Donations
| 2025 | 2024 | |
|---|---|---|
| 31-Mar | 31-Mar | |
| Donations and intangible income | £ | £ |
| Foundations and Trusts Fundraising | 213,994 | 196,339 |
| Individual donations - standing orders | 13,094 | 17,670 |
| Individual donations - once-off | 51,974 | 56,960 |
| Corporate donations | 8,711 | 18,462 |
| Corporate intangible donation | ||
| - Rental of Premises | 15,000 | 15,000 |
| Intangible donation - Administrative Support | 4,656 | 4,656 |
| Gift Aid Reclaim | 4,468 | 6,490 |
| 311,897 | 315,577 |
Corporate intangible donation refers to the in-kind donation of office space in lieu of rental by Investec Plc. This relationship was initiated in November 2007. Intangible donation – administrative support refers to donated accountancy time (see note 6b).
3. Income from Starfish UK Events and Fundraising Initiatives
| 31-Mar | 31-Mar | |
|---|---|---|
| 2025 | 2024 | |
| Starfish events | £ | £ |
| Beneficiary Events | 1,823 - |
- |
| Sports Initiative | 20,471 | 18,670 |
22,294 |
18,670 |
Registered as a charity in England and Wales. Registered charity number: 1093862
11
www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
4. Cost of Raising Funds
| Direct | Support | 31-Mar | 31-Mar | |
|---|---|---|---|---|
| Costs | Costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Cost of Generating Funds | 35,224 | 11,010 | 46,234 | 42,866 |
| Direct Staff Costs (Note 6a) | 32,034 | 30,223 | ||
| Cost of Starfish events | 2,516 | 1,169 | ||
| Support Costs | 11,010 | 11,206 | ||
| Cost of Treasury Deposits | 674 | 234 | ||
| Cost of Sports Initiative | - | 35 | ||
| 46,234 | 42,866 |
Donated services of £11,010 (2024: £11,2o6 see Note 2) are included in the cost of raising funds.
5. Charitable Activities
| Direct | Support | 31-Mar | 31-Mar | |
|---|---|---|---|---|
| Costs | Costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Funding of Starfish projects | ||||
| - CBO Support, Healthcare and Capacity Building |
225,799 | - | 225,799 | 162,861 |
| Activities within the UK | 39,153 | 9,819 | 48,972 | 36,939 |
| Governance costs | 1,225 | - | 1,225 | 1,224 |
| 266,177 | 9,819 | 275,996 | 201,023 |
Governance costs include independent examiner’s fees of £1,225 (2024: independent examiner’s remuneration of £1,225). Included in the total expenditure of £322,230 (see balance sheet) is £15,000 for in kind donation of office space in lieu of rent by Investec PLC (see note 15) and £4,656 for donated accountancy time.
Registered as a charity in England and Wales. Registered charity number: 1093862
12
www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
6. Support Costs
a) Staff Costs
| 31-Mar | 31-Mar | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Wages and salaries | 65,425 | 62,018 |
| Other Direct staff costs | 4,932 | 4,353 |
| Other staff costs | 831 | 791 |
| 71,188 | 67,161 | |
| Less direct staff costs in relation to fund raising | (32,034) | (30,223) |
| Staff costs relating to charitable activities | 39,152 | 36,939 |
The average number of employees for the year was one (2024: one), employed in furthering the charitable aims of the organisation. One employee earned more than £60,000 during the year under review (year ended 31 March 2024– one).
b) Administration
| 31-Mar | 31-Mar | |
|---|---|---|
| 2025 | 2024 | |
| b) Administration costs | £ | £ |
| Rent of premises | 15,000 | 15,000 |
| Administrative support | 4,656 | 4,656 |
| Depreciation | 224 | 186 |
| General expenses including: | ||
| - insurance | 363 | 329 |
| - other | 587 | 927 |
| 20,829 | 21,098 | |
| Less administration costs in relation to fund raising | (11,010) | (11,206) |
| Administration costs relating to charitable activities | 9,818 | 9,892 |
Rent on premises is donated by Investec Bank Plc, administrative support is donated accountancy time. For charitable activities costs see Note 5.
Registered as a charity in England and Wales. Registered charity number: 1093862
13
www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
7. Taxation
As a charity Starfish UK is exempt from taxation of its income and gains within Section 505 Taxes Act 1988 or Section 256 Taxation of Chargeable Gains Act 1992 to the extent they are applied to its charitable objectives. No tax liability has arisen in the year.
8. Trustees’ Remuneration
The Trustees have waived their right to any emoluments from Starfish UK. No trustee received any reimbursed expenses during the year (2024 - £nil).
9. Tangible Fixed Assets
| Computer | |||
|---|---|---|---|
| Software | Computer Hardware | Total Assets | |
| Cost | |||
| At 1 April 2024 | 2,959 | 2,336 | 5,295 |
| Additions | |||
| Disposals | |||
| At 31 March 2025 | 2,959 | 2,336 | 5,295 |
| Accumulated | |||
| Depreciation | |||
| At 1 April | (2,959) | (1,851) | (4,810) |
| Charge for the year | - | (224) | (224) |
| Disposals | |||
| At 31 March | (2,959) | (2,075) | (5,034) |
| Net Book Value | - | 261 | 261 |
| 10. Debtors | |||
| 31-Mar | 31-Mar | ||
| 2025 | 2024 | ||
| Debtors | £ | £ | |
| Accrued donations | 4,468 | 4,505 | |
| 4,468 | 4,505 |
10. Debtors
Registered as a charity in England and Wales. Registered charity number: 1093862
14
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NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
11. Creditors: amounts falling due within one year
| 31-Mar | 31-Mar | |
|---|---|---|
| 2025 | 2024 | |
| Creditors: Amounts falling due within one year | £ | £ |
| Accrued Expenses | 1,225 | 1,225 |
| 1,225 | 1,225 |
12. Statement of Funds
| Statement of funds | At | At | ||||
|---|---|---|---|---|---|---|
| 1 April | Incoming | Incoming Resources |
Resources Contingency |
Contingency Transfer to |
Transfer to 31-Mar |
|
| 2024 | resources | resources Expended |
Expended Reserve |
Reserve Reserves |
Reserves 2025 |
|
| £ | £ | £ £ |
£ £ |
£ £ |
£ £ |
|
| Restricted funds | 143,189 | 225,566 | 225,566 (189,276) |
(189,276) - |
- | 179,479 |
| Operational Reserves | 60,000 | - | - | - | - | 60,000 |
| Designated Project funds | 134,623 | - | - | - | (19,793) | (19,793) 114,830 |
| Unrestricted funds | 42,710 | 121,694 | 121,694 (132,954) |
(132,954) - |
19,793 | 19,793 51,243 |
| Total funds | 380,522 | 347,260 | (322,230) | - | - | 405,552 |
The unrestricted funds include the Operational Reserves, Designated Projects Fund and Unrestricted Reserves. The Operational Reserves of £60,000 (2024: £60,000) are sufficient to cover six months of estimated staff and administration costs.
Registered as a charity in England and Wales. Registered charity number: 1093862
15
www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
The Designated Projects Fund is held to safeguard the charity's services and projects in South Africa in the event of delays in the receipt of grants, or any shortfall in fundraising income. This will enable Starfish UK to fulfil its short term charitable commitments. A net transfer of £19,793 was made out of this fund to March 2025 (2024: £62,717 was transferred into the fund). Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. The aim and use of the restricted funds are set out in the table below:
| Balance at | Balance at | |||
|---|---|---|---|---|
| 1 April | Income | Expenditure | 31 Mar | |
| 2024 | 2025 | |||
| £ | £ | £ | £ | |
| Trusts for Wellness programmes | 57,491 | 39,751 | (30,295) | 66,947 |
| IFP donation for KZN | 40,228 | 37,500 | (53,704) | 24,024 |
| Allan &Nesta Ferguson Foundation | - | 20,000 | - | 20,000 |
| Anonymous for KZN | 454 | 43,067 | (34,932) | 8,589 |
| ALMT for Woza Moya ECD | 10,312 | 15,747 | (15,612) | 10,447 |
| MPT | 10,680 | 15,000 | (14,799) | 10,881 |
| Trusts for Woza Moya | 2,139 | - | - | 2,139 |
| Greendale for KZN | 14,786 | - | (14,786) | - |
| Restricted donations of £5,000 or less | 7,099 | 2,501 | - | 9,600 |
| RL CT | - | 52,000 | (25,148) | 26,852 |
| Total funds | 143,189 | 225,566 | 189,276 | 179,479 |
Restricted funds are to be used solely for the purpose for which they were awarded. This may be a specific project, geographic area or type of work such as health, education or child protection services.
13. Analysis of Net Assets between Funds
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Debtors | - | 4,468 | 4,468 |
| Cash at bank | 179,479 | 222,568 | 402,047 |
| Net fixed assets | - | 261 | 261 |
| Total liabilities | - | (1,225) | (1,225) |
| Net assets | 179,479 | 226,072 | 405,551 |
Registered as a charity in England and Wales. Registered charity number: 1093862
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www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
14. Unrestricted and Restricted Funds Split 2024
| Notes | Year ended 31 March |
|||
|---|---|---|---|---|
| 2024 | ||||
| Income from: | Unrestricted | Restricted | Total | |
| £ | £ | £ | ||
| Donations and legacies | 2 | 109,979 | 205,598 | 315,577 |
| Trading income and fundraising | ||||
| initiatives: | ||||
| Starfish UK events | 3 | 18,670 | - | 18,670 |
| Investment income received | - | 1,944 | 1,944 | |
| Total income | 128,649 | 207,542 | 336,191 | |
| _____ | ____ | _____ | ||
| Expenditure on: | ||||
| Raising funds | 4 | 42,866 | - | 42,866 |
| Charitable activities | 5 | 48,179 | 162,736 | 210,915 |
| ______ | _____ | _____ | ||
| Total expenditure | 91,045 | 162,736 | 253,781 | |
| ______ | _____ | _____ | ||
| Net movement in funds | 37,604 | 44,806 | 82,410 | |
| Fund Balances Brought Forward | 12 | 199,729 | 98,383 | 298,112 |
| _____ | _____ | _____ | ||
| Fund Balances Carried Forward | Fund Balances Carried Forward 12 |
237,333 | 143,189 | 380,522 |
Registered as a charity in England and Wales. Registered charity number: 1093862
17
www.starfish-greathearts.org
NOTES TO THE FINANCIAL STATEMENTS at 31 March 2025 (continued)
15. Related Parties
Starfish Greathearts Foundation SA, registered in South Africa (Section 21 company registration number: 2003/002865/08) (“Starfish SA”) is the sister charity of Starfish Greathearts Foundation (“Starfish UK"), registered in England and Wales. Starfish Greathearts Foundation USA (“Starfish USA”) is registered as a 501(c)3 organization (EIN 20-3622548). Starfish SA has charitable objects aligned with Starfish UK and Starfish USA.
During the period under review there was charitable expenditure of £225,798 (2024: £162,861) from Starfish UK to Starfish SA and other partner CBOs to further the charitable objects of Starfish UK. These will enable Starfish UK to fulfil its immediate short term charitable commitments. At the year-end amounts due to Starfish SA was £nil (2024 £nil).
The Starfish UK team have office space donated by Investec Bank plc.
16. Guarantors
Starfish UK is a company limited by guarantee. In the event of a winding-up, the liability of each of the members is limited to £1. At 31 March 2025 the members of the company were all Trustees as listed in the Trustees Report.
17. Post Balance Sheet Events
There have been no significant events between the balance sheet date and the date of this Report.
Registered as a charity in England and Wales. Registered charity number: 1093862
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