2023-12-31-accounts - Shannon Trust

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	Page
Legal and administrative information
Trustees' Annual Report
Independent auditor's report	13
Statement offinancial activities	16
Balance sheet	17
Statement ofcash flows	18
Notes tothe financial statements

REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	CHARITY,	CHARITY,
ITSTRUSTEES AND ADVISERS
Forthe year		ended 31 December 2023
Company	reg. no.		5906258
Charity reg.		no. (England)	1117249
Charity reg.		no. (Scotland)	SC043470
Registered	office		International House
			101 King's Cross Road
			London, WC1X 9LP
Trustees			The trustees, who are also			directors	under company		law, who served during
			the year and up to the date			ofthis report were as		follows:
			Michael Wemms, Chair
			Andrew Raid, Treasurer
			John Bensted
			William Payne, Senior Independent				Trustee
			Brenda Bates
			Cristalina Fernandes-Bates
			Ceri Godwin
			Caroline King
			Pankaj Sethi
			Joanna Marston
			Thomas Saunders				(appointed	03	May 2023)
Key management			lan Merrill, CEO
personnel
			Christopher Morgan,	Director of Business Support				&	Company Secretary
Bankers			CAF Bank Ltd
			25 Kings Hill Avenue
			Kent, ME194JQ
			Aldermore Bank PLC
			1stFloor, Block BWestern			House
			Lynch Wood
			Peterborough, PE2 6F2
Independent		Auditor	Richard Billinghurst FCA
			Senior Statutory Auditor
			Knox Cropper LLP
			Chartered Accountants		and	Statutory Auditors
			65 Leadenhall Street,	London, EC3A 2AD
Accountants			NfP Accountants Ltd
			3rd Floor, 86-90 Paul	Street, London, EC2A 4NE

ReseNe			Value	Method	ofcalculation	ofcalculation
Free reserves
Income	variation		F283,000	3months'	budgeted future		income,
				excluding	contract income		and restricted
				donations
Working capital			E321,000	2 months'	budgeted future		contract income
			E604000
Desi nated reserves
Development		fund	E75,000	As assessed by		the trustees,	having regard
				to the charity's		3year strategy and annual
				business	plan
Contingency		reserve	E50,000	As assessed by		the trustees,	having regard
				to the principal		dsks facing	the charity and
				the mitigations		in place to	manage them.
			E125,000
unrestricted	reserves target		E729,000

				Unrestricted	Unrestricted		Restricted		Total	Unrestncfed	Unrestncfed	Restricted	Restricted		Total
					Funds		Funds		Funds		Funds		Funds		Funds
			Note		2023		2023f		2023 8		2022		2022 5		2022
INCOME FROM
Donations and legacies			2		561,298		376,344		937,642		524,637		330,066		854,703
Charitable activities
Reading and numeracy			3		1,516,578				1,516,578		251,398				251,398
programme
Investment income:	bank interest				13,711				13,711		4,240				4,240
Other income					71				71		137				137
TOTAL INCOME					2,091,658		376,344		2,468,002		750412		330,066	1,	110,478
EXPENDITURE ON:
Raising funds			4		105,864				105,864		104,520				104,520
Charitable activities
Criminal Justice Operations	System (CJS)		4		1,334,090		238,204		1,572,294		697,480		142,540		840,020
Community Operations					192,234		163,814		356,048		69,766		1,299		71,065
Resources					152,989		28,966		181,955		25,279		43,133		68,412
Turning pages
sustainability income project					32,691				32,691		34,711				34,711
(TPSI)
					1,712,004		430,984		2,142,988		827,236		186,972	1,014,208
TOTAL EXPENDITURE					1,817,868		430,984		2,248,852		931,756		186,972	1,118,728
NET INCOME/(EXPENDITURE)		FOR
THE YEAR					273,790		(54,640)		219,150		(151,344)		143,094		(8,250)
RECONCILIATION	OF FUNDS
TOTAL FUNDS AT	1 JANUARY	2023			443,768		144,451		586,219		595,112		1,357		596,469
TOTAL FUNDS AT	31 DECEMBER2023			6	717,558	5	89,811	6	807,369	f	443,768	5	144,451	5	585,219

				2023		2022
Cash flows from operating	activities				219,150		(8,250)
Net cash provided by / (used in) operating			activities
(Increase)/decrease in	debtors			(208,678)		(55,389)
Increase/(decrease) in	creditors			35,954		(44,818)
					(172,724)		(100,207)
Change in cash and cash	equivalents	in the year			46,426		(106,457)
Cash and cash equivalents	at the beginning		ofthe	year	547,904		656,361
Cash and cash equivalents	at the year	end		6	594,330	6	547,904

2.	DONATIONS	DONATIONS	AND LEGACIES	AND LEGACIES
			Unrestricted			Restricted			Total	Unrestricted			Restri cted		Total
					Funds		Funds		Funds		Funds		Funds		Funds
					2023 6		2023 6		2023		2022 6		2022f		2022 E
	Trusts and foundations			457,793			376,344		834,137		365,000		330,065		595,056
	Individual	donors			76,371				76,371		66,282				66,282
	Major donors				26,875				26,875		30,250				30,250
	Corporate	donations			259				259		22,855				22,855
	Legacies										40,250				40,250
			F	561,298		6	376,344	6	937,642	6	524,537	6	330,066	6	854,703
3.	INCOME	FROM CHARITABLE			ACTIVITIES
								Unrestricted			Restricted		Total		Total
									Funds		Funds		Funds		Funds
									2023		2023		2023		2022
													6		E
	Contracts	and	Sl As						1,440,282				1,440,282		176,770
	Sale of reading		manuals						76,296				76,296		74,628
								6	1,516,578	6	Nil	6	1,516,578	6	251,398

ANALYSIS OF EXPENDITURE	ANALYSIS OF EXPENDITURE
			Direct	Governance			Support		Total		Total
	Staff costsf		costs 6		costs 6		costs 6		2023 6		2022
CJSOperations	1,129,078		125,081		7,851		310,284		1,572,294		840,020
Community operations	184,869		119,089		1,286		50,804		356,048		71,065
Resources			181,955						181,955		68,412
Turning pages sustainability			32,691						32,691		34,711
	1,313,947		456,816		9,137		361,088		2,142,988		1,014,208
Fundraising costs	79,263		4,268		551		21,782		105,864		104,520
Governance costs			9,688		(9,688)
Support costs	306,024		76,846				(382,870)
6	1,699,234	6	549,618	6	Nil	6	Nil	6	2248852	Z	1118728
2022
CJSOperations	471,180		106,284		7,789		254,758		840,020
Community Operations	42,921		4,220		709		23,206		71,065
Resources			68,412						08,412
Turning pages sustainahiTity			34,711						34,711
	514,110		213,636		8,498		277,964		1,014,208
Fundraising costs	64,272		4,436		1,052		34,750		104,520
Governance costs			9,560		(0,560)
Supportcosts	261,708		51,006				(312,714)
Z	840,090	f	278,638	8	Nil		Nil	E	1,118,728

STAFF COSTS AND	NUMBERS
	Unrestricted	Restricted		Total	Unrestricted		Restricted	Total
	Funds		Funds	Funds		Funds	Funds	Funds
	2023f		2023f	2023f		2022f	2022f	2022f
Salary costs
Wages and salaries	1,201,774		246,895	1,448,669		555,374	118,466	673,840
Social security costs	134,647			134,647		68,481		68,481
Pension costs	49,043			49,043		22,112		22,112
	1,385,464		246,895	1,632,359		645,967	118,466	764,433
Other staffing costs
Recruitment	13,105			13,105		14,152		14,152
Staff training and development	20,819		2,240	23,059		20,210		20,210
Death in service	2,868			2,868		507		507
Consultancy	27,843			27,843		40,788		40,788
	f 1,450,099	f	249,135 f 1,699,234		f	721,624 f	118,466 f	840,000

SUPPORT AND GO	VER	NA	NCE C	OSTS
						2023		2022
								5
Support costs
Premises costs, including			meeting	room hire		9,685		3,884
Website and online	costs					6,361		7,581
Insurance						2,635		2,023
Other comms and	marketing					14,735		5,022
IT systems, computers		and office		equipment		15,628		10,827
Telephones						3,295		4,407
Repairs and maintenance								141
Legal and professional		fees				5,815
Events and conferences						173		1,739
Staff travel and subsistence						16,751		12,844
Other office costs						1,768		2,448
						76,846		51,005
Governance costs
Board meetings						1,575		2244
Audit						6,240		5,670
Audit preparation						1,200		1,200
Other governance	costs					673		440
						9,688		9,560
Support staff costs						306,024		251,708
					6	392,558	5	322,274

						2023		2022
Due within one		year				6
Trade debtors						145,102		57,978
Accrued	income					131,011
Other debtors						543
					6	276,656	6	57,978
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
						2023f		2022
Deferred	grant income					30,000
Other creditors						13,366
VAT creditors						2,952		6,51f
Accruals						17,277		21,152
						63,617	8	27,853
Deferred	income
Balance	at 1 January 2023
Amount	released	to incoming		resources
Amount	deferred	in the year				30,000
Balance	at 31 December 2023					30,000	6	Nil

STATEME	N	T OF FUNDS
									Transfers and
				Brought		Incoming		Resources		investment				Carried
				Forward 5		Resources 6		Expended f	gains/(losses)			f		Forward 6
DESIGNATED FUNDS
Contingency		Fund		50,000										50,000
Development		Fund		75,000										75,000
			5	125,000	6	Nil	6	Nil	5		Nil		6	125,000
RESTRICTED FUNDS
CJS Operations				27,927		215,333		(238,204)						5,056
Community		Operations		116,524		131,011		(163,814)						83,721
Resources						30,000		(28,966)						1,034
			6	144,451	6	376,344	5	(430,984)	6		Nil		6	89,811
SUMMARY		OF FUNDS
Designated		Funds		125,000										125,000
General Funds				318,768		2,091,658		(1,817,868)						592,558
				443,768		2,091,658		(1,817,868)						717,558
Restricted	Funds			144,451		376,344		(430,984)						89,811
			6	588,219	6	2,468,002	6	(2,248,852)	6		Nil		6	807,369

STATEMEN	T OFFUNDS - 20	22
								Transfers and
			Brought		Incoming	Resources			investment	Canted
			Forwardf		Resourcesf	Expended f		gains((losses) f		Forwardf
DESIGNATED FUNDS
Contingency	Fund		50,000							50,000
Development	Fund		75,000							75,000
		f	125,000	f	Nil f		Nil	f	Nil f	125,000
								Transfers and
			Brought		Incoming	Resources			investment	Carried
			Forwardf		Resourcesf	Expended f		gainsf(losses)		Forwardf
RESTRICTED FUNDS
CJSOperations					286,933	(142,540)				144,393
Community	Operations		1,357				(1,299)			56
Resources					43,133		(43,133)
		f	1,357	f	330,066 f	(186,972)		f	Nil f	144,451
SUMMARY	OFFUNDS
Designated	Funds		125,000							'I25,000
General Funds			470,112		780,412	(931,756)				318,768
Restricted Funds			1,357		330,066	(186,972)				144,451
		f	596,469	f	1,110,478 f	(1,118,728)		f	Nil f	588,219
ANALYSIS	OF NET ASSETS	BETWEEN	FUNDS
					Unrestricted		Funds
					Designated		General		Restricted	Total
					Funds f		Funds f		Funds 8	Funds
Net current	assets				125,000		592,558		89,811	807,369
				f	125,000 f		592,558	f	89,811 f	807,369

16.ANALYSIS OF	THE NET MOVEMENT
		Unrestricted			Restricted	Total		Total
			Funds		Funds	Funds		Funds
			2023		2023	2023		2022
			6		6	8
Net movement	in funds		273,790		(54,640)	219,150		(8,250)
		6	273,790	6	(54,640) 6	219,150	8	(8,250)