CHARITY REGISTRATION NUMBER: 1116822 The Saturn Foundation Unaudited Financial Statements 31 March 2025 CHAMBERLAINS UK LLP Chartered Accountants 173 Cleveland Street London UK W1T6QR
The Saturn Foundation Financial Statements Year ended 31 March 2025 Pages Trustees, annual report 1to3 Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 7t011 The following pages do not forni part of the financial statements Detailed statement of financial activities 13 Notes to the detailed statement of financial activities 14
The Saturn Foundation Trustees. Annual Report Year ended 31 March 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charity name The Saturn Foundation Charity registration number 1116822 Principal office 173 Cleveland Street London W1T6QR The trustees MRRMShah MRBRShah MRPVShah Independent examiner Shammir Shah Chamberlains UK LLP Chartered Accountants 173 Cleveland Street London UK W1T6QR Structure, governance and management The charity is governed by the declaration of trust dated 23rd October 2006 and is a registered charity under the registration number 1116822. The charity shall have at least three trustees. Every fijture trustee shall be appointed by resolution of the trustees passed at a special meeting. In selecting persons to be appointed as trustees the trustees shall take into account the benefits of appointing a person who is able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or the management of the charity. The trustees shall hold two ordinary meetings in each year. Public Benefit Statement In accordance with the Charities Act 2011, the trustees confirm that they have given due consideration to Charity Commission Public Benefit Guidance as required by the Section 4 of the Charities Act 2011.
The Saturn Foundation Trustees. Annual Report (continued) Year ended 31 March 2025 Objectives and activities The charity's objectives and activities are: To relieve persons wheresoever situate, who are in conditions of need, hardship or distress as a result of local, national or international disaster or by reason of their social and economic circumstances and to further education (including social and physical training) of such persons. To provide grants for projects identified by the trustees as furthering the objects. which are made directly or via other charitable organisations. Achievements and performance The charity was established on 23 October 2006 and is aiming to support other charities with similar objectives and goals. During the year, the Foundation made total donations of £171,000 (2024.. £110,000} to various charitable organisations. In addition during the year to 31 March 2025, the Foundation has invested some funds in a portfolio which consists of stocks and shares which is managed by a fund manager. The income generated from the portfolio will be used to furtheran the objectives of the Foundation. Going concern The trustees believe that due to the availability of reserves, there are no material UnrtaIntieS about the charity's ability to continue for at least the next 12 months from the date of this report. Risk management The trustees have a risk management strategy which comprises: an annual review of the major risks the charity may face., the establishment of systems and prOdureS designed to mitigate major risks., the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. Reserves policy The total reseNe funds as of 31 March 2025 stood at £591.721 (2024.. £172,182) and all the reserves are unrestricted i.e. they can be applied at the discretion of the trustees. The reserves policy is reviewed on a regular basis and adjusted as risk perceptions and other factors change. When reviewing and monitoring the reserve policy, the trustees ensure that they identify when the reserves are drawn on so that they understand the reasons and can consider the corrective actions, if any, that need to be taken. The level of reserves is reviewed annually by the trustees. Financial review During the year the charity received donations and gift-aid totalling £616,100 (2024.. £Nil). In addition, the charity also received investment income of £5.864 (2024.. £5,991). The charity also made donations totalling £171,000 (2024.. £110,000) to various charities.
The Saturn Foundation Trustees. Annual Report (continued) Year ended 31 March 2025 Plans for future periods The Charity plans to support various charities in the forthcoming years based on the income generated and donations received. Responsibilities of the trustees The Charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable to the charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied thatthey give a true and fair view ofthe state of affairs ofthe charity and the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then appty them consistently., observe the methods and principles in the Charities SORP" make judgements and accounting estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They 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. The trustees, annual report was approved on 4 February 2026 and signed on behalf of the board of trustees by= Phar31 s?ah (Feb 5. 2Q26 10 30 GMT+n MRBRShah Trustee
The Saturn Foundation Independent Examiner's Report to the Trustees of The Saturn Foundation Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of The Saturn Foundation {'the charity,) for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent examinerfs statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act; or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Shammir Shah Chamberlains UK LLP Chartered Accountants Independent Examiner 173 Cleveland Street London UK W1T6QR
| -------------------------------- 616,100 5,864 |
-------------------------------- 616,100 5,864 |
----------------------- ~~-~~ 5,991 |
|---|---|---|
| 621,964 | 621,964 | 5,991 |
| ================================ | ================================ | ======================= |
| 611 | 611 | ~~-~~ |
| 176,475 | 176,475 | 112,740 |
| -------------------------------- | -------------------------------- | -------------------------------- |
| 177,086 | 177,086 | 112,740 |
| ================================ | ================================ | ================================ |
| 25,339 | 25,339 | ~~-~~ |
| -------------------------------- | -------------------------------- | -------------------------------- |
| 419,539 | 419,539 | (106,749) |
| ================================ | ================================ | ================================ |
| 172,182 | 172,182 | 278,931 |
| -------------------------------- | -------------------------------- | -------------------------------- |
| 591,721 | 591,721 | 172,182 |
| ================================ | ================================ | ================================ |
| ---------------------------- | -------------------------------- | |
|---|---|---|
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| ================================ | ================================ | |
| -------------------------------- | -------------------------------- | |
| ================================ | ================================ |
The Saturn Foundation Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 173 Cleveland Street, London, W1T 6QR, United Kingdom. Statement of compliance These financial statements have been prepared in Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experien and other factors, including expectations of future events that are believed to be reasonable under the circUmstans. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on theirexpenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes" restricted income funds or endowment funds.
The Saturn Foundation Notes to the Financial Statements (Continued) Year ended 31 March 2025 Accounting policies (continued) Incoming resources All incoming reSoUrS are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when reIpt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and ServIS are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the suppty of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitsble aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. otherexpenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refiecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Investments Unlisted equity investments are initially recorded at cost. and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Year ended 31 March 2025
| -------------------------------- 612,900 3,200 |
-------------------------------- 612,900 3,200 |
-------------- ~~-~~ ~~-~~ |
-------------- ~~-~~ ~~-~~ |
|---|---|---|---|
| 616,100 | 616,100 | ~~-~~ | ~~-~~ |
| ================================ | ================================ | ============== | ============== |
| ----------------------- 238 5,626 |
----------------------- 238 5,626 |
----------------------- ~~-~~ 5,991 |
----------------------- ~~-~~ 5,991 |
|
|---|---|---|---|---|
| 5,864 | 5,864 | 5,991 | 5,991 | |
| ======================= | ======================= | ======================= | ======================= | |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| 611 | 611 | ~~-~~ | ~~-~~ | |
| ============== | ============== | ============== | ============== | |
| fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| 171,000 | 171,000 | 110,000 | 110,000 | |
| 5,475 | 5,475 | 2,740 | 2,740 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 176,475 | 176,475 | 112,740 | 112,740 | |
| ================================ | ================================ | ================================ | ================================ | |
| activity type | ||||
| funding | Support | Total funds | Total fund | |
| activities | costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| 171,000 | ~~-~~ | 171,000 | 110,000 | |
| ~~-~~ | 5,475 | 5,475 | 2,740 | |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 171,000 | 5,475 | 176,475 | 112,740 | |
| ================================ | ======================= | ================================ | ================================ |
Year ended 31 March 2025
| ---------------------------- (25,541) |
---------------------------- (25,541) |
-------------- ~~-~~ |
-------------- ~~-~~ |
|---|---|---|---|
| (25,339) | (25,339) | ~~-~~ | ~~-~~ |
| ============================ | ============================ | ============== | ============== |
| 2025 | 2024 | ||
| £ | £ | ||
| statements | ======================= 1,800 |
============== ~~-~~ |
At 1 April 2024 ~~-~~ Additions 615,426 Disposals (16,884) Fair value movements (25,540) -------------------------------At 31 March 2025 573,002 ================================ Impairment At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 573,002 ================================ At 31 March 2024 ~~-~~ ================================
Year ended 31 March 2025
======================= =======================
| At | Gains and | At | |||||
|---|---|---|---|---|---|---|---|
| 1 | April 2024 | Income | Expenditure | losses | 31 March 2025 | ||
| £ | £ | £ | £ | £ | |||
| 172,182 | 621,964 | (177,086) | (25,339) | 591,721 | |||
| ================================ | ================================ | ================================ | ============================ | ================================ | |||
| At | Gains and | At | |||||
| 1 | April 2023 | Income | Expenditure | losses | 31 March 2024 | ||
| £ | £ | £ | £ | £ | |||
| 278,931 | 5,991 | (112,740) | ~~-~~ | 172,182 | |||
| ================================ | ======================= | ================================ | ============== | ================================ |
| -------------------------------- £ 573,002 24,119 (5,400) |
-------------------------------- £ 573,002 24,119 (5,400) |
|---|---|
| 591,721 | 591,721 |
| ================================ | ================================ |
| Unrestricted | Total Funds |
| Funds | 2024 |
| £ | £ |
| ~~-~~ | ~~-~~ |
| 179,502 | 179,502 |
| (7,320) | (7,320) |
| -------------------------------- | -------------------------------- |
| 172,182 | 172,182 |
| ================================ | ================================ |
The Saturn Foundation Management Infonnation Year ended 31 March 2025 The following pages do not forni part of the financial statements. 12
Year ended 31 March 2025
| -------------------------------- 612,900 3,200 |
-------------- ~~-~~ ~~-~~ |
|---|---|
| 616,100 | ~~-~~ |
| -------------------------------- | -------------- |
| 238 | ~~-~~ |
| 5,626 | 5,991 |
| ----------------------- | ----------------------- |
| 5,864 | 5,991 |
| ----------------------- | ----------------------- |
| -------------------------------- | ----------------------- |
| 621,964 | 5,991 |
| ================================ | ======================= |
| 611 | ~~-~~ |
| -------------------------------- | ----------------------- |
| 5,400 | 2,520 |
| 75 | 220 |
| 171,000 | 110,000 |
| -------------------------------- | -------------------------------- |
| 176,475 | 112,740 |
| -------------------------------- | -------------------------------- |
| -------------------------------- | -------------------------------- |
| 177,086 | 112,740 |
| ================================ | ================================ |
| (202) | ~~-~~ |
| 25,541 | ~~-~~ |
| -------------------------------- | -------------------------------- |
| 25,339 | ~~-~~ |
| -------------------------------- | -------------------------------- |
| -------------------------------- | -------------------------------- |
| 419,539 | (106,749) |
| ================================ | ================================ |
| -------------------------------- | -------------------------------- |
|---|---|
| ----------------------- | ----------------------- |
| ----------------------- | ----------------------- |
| -------------------------------- | -------------------------------- |
| ================================ | ================================ |