Reglstered number: 06107694
Charity number: 1118686
THE SHACKLETON FOUNDATION
(A company limlted by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE SHACKLETON FOUNOATION
(A company limited by guarantee)
CONTENTS
Pago
Roference and administratlv8 details of the Company. Its Truslees and advlsers
Trustees. report
Independent examlngP$ report
Statement of flnanclal actlvltlès
Balance shèet
Notes to tho financial statgmgnts
10-18

THE SHACKLEfoN FOUNDATION
(A Company Ilmlted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustges
Charfotte Haffield. Chalr
Richard Grahame (￿gned 31 December 20231
Karon Kwong
Victoria Lomax
Gus Majed (resigned 11 June 20241
slephan￿ Wheen (8ppoinled 24 jur￿ 20241
Company reglstered
number
I￿107694
Charlty rggistergd
number
1118686
Reg15tered offlce
CIO James Cowper Kreston
2 Communications Road
Greenharn Business Park
Newbury
Berkshire
RG19 6AB
Company secretary
Wilsons (Company Semtsnesl Limiled
Accountants
James Cowper Kreston
Chartered AC￿Untants
2 Communications Road
Greenham Business Pa
Greenham
Newbury
Berkshire
RG19 6AB
Bankers
Uoyds TSB
39 Piccadilly
London
W1J OAA
Solicltors
Wilsons Solicitors LLP
Alexandra House
Sl Johns Street
Salisbury
SP12SB
Page 1

THE SHACKLETON FOUNDATION
IA company limited by guarant99}
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Tnjslees present their annual ￿port logether wth the financial slalements of the Cornpany for the year
ended 31 March 2024. The Annual report serves the purposes of both a Truslees, report and a directors, report
under company law. The Trustees confirm that thg Annual report and finanaal 5talemenls of the chantabl8
company comply wth Ihe current slalulory requirements, the requirements of the ch3rilable compan1$
goveming documenl and the provisions of Ihe Slalemenl of Recommended Practic8 ISORPI applicable to
ch8rilies preparing their accounts in accordance with the Finan¢ral Reporting Standard applicable in the UK and
Republic of Ireland IFRS102} leffeclive 1 January 2019
Since the Company qualifies as small under section 382 of the Companies Act 2006. the SITalegi¢ report
required of medium and large eompanies under the Companies Act 201% Istralegie Report and Directors.
Report) Regulations 2013 has been omitted.
Objectlvès and acttvlties of thg foundatlon
Stratègles for achlevlng objectlves
The charivs obieclNes are. fw Ihe public benefit. lo:
Advance the mental, physical and spiritual welfare of people of any age. background and nationality by
providing funding lo any peTson for any proje￿ or activity which embodies thè spirit and leadership
qualities of Sir Em8sI Shackleton. in particular where their leadership brings ￿nefit lo the less
advantaged.
Commemorate the lrfe aThJ achievements of Sir Emest Shackleton by such means as the Trustees Shall
detem)ine.
Advance the educats.on of the public in any recognised academic prinople ihal touches upon the life and
achievements of Sir Emesl Shackleton, induding bul not limited lo leadersh￿). history. geography.
geology. photography and dIMat￿09Y.
iv.
Advance Such other chantable purposes as the Trustees shall in their absolute discretion determine.
The Trustees confirni that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when rewewng the Trust's aims and objectives and in planning future activities and
setts.ng the grant maknng policy for the ￿r.
These objectives are achieved in the followng vrays.
In eonsidenng applicattons for grants. the Truslees consider c8reftJlly the wbli¢ benefit aspect of every
application, partjcularly in regard lo the first objective of the Foundalion-
brings benefit lo the less advantsged in the Ulf.
-where their leadership
In making granls, or Sha￿elon Leadership Awards as they are s￿ed. the Trnsle8s are alvrdyE mindlul
to ensure Ihal there is a public benefit componenL
Achievements and perforniance of the foundatlon
During the year The Shackleion Foundab"on conts'nued lo focus the charitsble grants on soryal enlrepreneLtrs
whose "big ideas" would benefit disadvantaged w)ung people in the UK. The Trustee5 Continue lo look for
suitable applicants who demonstrate the inspiration and commitment needed to really make a difference in their
respective (x)mmunilies, and orth suc£essful they becom8 Shackleton Leader5.
Page 2

THE SHACKLETON FOUNDATION
IA company Ilmltgd by guarant90)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance of the foundatlon (contlnu•d)
They believe that excellent leadership has the potential to transform INes. But many social entrepreneurs
stnJggle lo tum their concept into reah'ty as securing funding wthout a proven track record is extremely
challenging.
The Trustees maintsrned their estsblished in rK*￿Ous Jtars Ihal awards lo Shackleton Leaders who are
setting up or running a sooal enterprise that is a limited company would be in the form of a loan Ihal becomes
repayable when the company is profilable. Awards lo Shacklelon Leaders who are setting up or running not for
profil social enterprises or charities will remain as grants- these are indicated below.
It continues lo be the objecbve of Tnjslees lo aim to raisa £100.000 per year. vthh a view to making about len
Awards per year. During this financial year. the Trustees have awarded fundin9 to five new Sha¢klelon Leaders.,
Jerome Sewell 1£10.CrfX) Grant) - Jerome is one of the founders of Therapeutic Productions CIC. an arts based
service thal empowers young people Y￿h skills based training for jobs in the arts. media and film industry. In
particular il provides arts based therapy seNces to help young people from gang hil environments and young
peO￿e wlh menial health difficulties lo engage in ServI￿S that take care of their wellbeing. Therapeutic
produclions is driven by the desire to use the arts as a galew8y lo helping young people take care of their mentsl
health and increase the use of mentsl health services In disadvantaged communities. They create art that
empowers and voices the lrfe expenenees of ￿￿ng people in communities expenenang youth violence. Jerome
has created, managed and delivered inlervenlions to other 400 young people in recent years which has included
running media courses workn.ng with Olyrnpic athletes, making feature films featured on the national news and
working with young offenders to empower their careers. He also works for the Royal college of psychiatrists and
has provided training malenal for NHS practitioners. The grant from the Shackleton Foundation will enable him
lo support up to 20 yr)ung people from gang htt environments and who have mentsl heallh difficulties, working
together to produce and create a film.
Dan Dodge1£10,0C￿ Grant) - Dan founded Sports 4 Change ¥￿th the ambrtion to use sp)rt lo have a positive
impact on individuals through improved health. sooal connecbon. employabilty and expefiences. Dan has
worked in grassroots and communty swrt since 2013 and has been fortunate to work in countries including
USA, India and Singapore using sport for wsikn.ve social impacL In 2022 he decided to create the oiganisalion lo
hame5s Ihe power of swrt to transfom lives. and creale opportunilies and pathways to inspire young people lo
develop themselves and gain lrfe enhanung experiences through sport. 'Every kick counts, aims lo support
young people develop key interpersonal skills Io SUPPOTI employability through a 5POrts based curriculum to
engage and inspire the part5opanls lo consider sports as a career option and support thern to mako pos11iv8
steps lo gaining experience and lrfe experience through sport. The Shackleton Leadership Award will enable Dan
lo run 3 pilot projects in collaboralion Y￿th different types of organis81ion (School, Community organisalion and a
football clubl lo demonstrate the impact that the project can have across different sectors that support young
peo￿e. develop a leam to assist with Ihe delivery of the sessions and enhance the proiecl learning curriculurn lo
ensuro a lasting impacL
Llndsey Crosbie I£10.CQO Grantl- ￿'n￿seY is the Founder of With Horses CIC. a S(￿la1 enterprise that provides
courses. curricula. and consulting services in the Equine Assisted Actt'vitse5 sector. It aims lo mak8 equine
assisted adivilies more eastly accessible and widely recognised and lo ensure Ihat they are KKovided with Ihe
highesl level of safety and ethics. Ml profits from With Horses are donated lo the Tinnis Trusl. a charity that
provides opportunities for yDung people from disadvanla9ed backgroLtnds lo experience the benefits of horses
and the ouldwrs. Lindsey is a certified Therapeutsc Riding Instructor, Equine interacb.on Professional and Equino
8ehaviouris1. She is passionate about sharing the ways in which horses can help people gain confidence.
ccxnmunicatson, and coping sknlls. She speualises in workn'ng wth survivors of Irauma and car￿eXperienCed
ung people. Lindsey grew up in a low in￿)rne, single parent household in an inner•city area with little access to
horses and the cOunt￿lde. Her wsion is for a soaety sthere all peoF4e can have access to their Irf￿Changing
beneftls, regardless of backgfound. The ShacWeton Leadership Award is helping Lindsey lo provide t￿0 pilot
therapeutsc retreats. one for carfrexpenenced young people and anolhef for ywng women who are survivors of
trauma. The retreats wll prowde access lo equine assisted therapy. accredited life skills training and the
opportunity to train 98in quejifications in animal care and land-based skills.
Sarah Gaunt 1£10.CO) Grant) - Sarah is the Founder and CEO of Unsloppable Gids CIC. Unstoppable Girfs
Page 3

THE SHACKLETON FOUNOATION
IA ¢ompany lirnlted by guaranto•l
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2024
Achlevements and perforTnan¢e of the foundatlon (contlnuedl
CIC empowers and inspires leenage and youThJ adult females with ADHD lo create the life they choose. Sarah is
professionally qualffied youlh worker wilh 30 years experience of working with young people. She has always
worked wth SEND young peO￿e and has been passionate about supporbng females. She even studied youth
work with ￿Ung females whilst getting her ￿Uth work degree. Sarah has always fell different from other people
throtsghoul her whole childhood. In her career. she has Corn￿eted a lot of training around aulism and was aware
she displayed more autistic trails than others. even though she didn't have a diagnosis. When she was asked lo
prepare a course for parenls whose thildren were wailing for an ADHD diagnosis. she started lo research ADHD
and found out she had ADHD. She rK)w knèw why she had fell so different all ol her life. Sh8 also understood
why she found certain things complicated, which others find easy. Realising Ihal ADHD in females is so
misunderstood and so poorly rècognised, Sarah slarled Unsloppable Gids CIC to be a place for those who h8VO
ADHD to meel others, lo feel les5 isolated. lo understand their ADHD and lo see the strengths and the skills they
have lo be able to create the Ille Ihey want This ￿V1h project provides youth groups lo enable young female$
wlth ADHO to come together and meel and do fun Ihings. They work in schools lo raise awareness of ADHD.
deliver courses to allow young women lo understsnd their ADHD and work out str81egies to help them achieve
what they want lo achieve. The money from the Shacwelon Foundation will help Sarah develop the online
courses Ihal will enable Unsloppable Gills lo meet young people from a wider area than where they currenlly
work. The classes will also generale income for Unstoppable Girfs CIC. allowing them lo provide even mora
youth groups.
Niketa Sanderson Gillard {£10.OIXI Loan) - Niketa is the founder and CEO of Why Care, a social enlerpns
focused on Increasing the number of stable. lovirig fostering homes available for vulnerable children. Her
expeneTr¢e working as a social worker placing children into fostering homes, as well as assessing people
want lo be foster carers started her joumey of thinking about how do we find and support the right people into the
role of foster carer. Working in national social care policy. she began lo undefsiand the natsonal scale of the
challenge and became delemiined to be part of Ihe solulion. Currently there are not enough carers. in Ihe right
places. with the right skills for the children who need them. Why Care will help find. assess and support more
foster carers from diverse backgrounds. The Shackleton award {in the fomi of a loan) will help design an
innovatNe new approach lo how we assess people to be foster carers and will bring those who have experienc8
of being in foster care or of being a foster carer into the design and delivery of that assessment. We wll also ba
introducing more ways to support foster carets lo ensure those doing this vital role have the right svpport around
them so that they can offer the right support lo children placed in their care. Foster care can be transfomiative
and we believe there should be enough k)ving foster homes available for all the children who need them.
To enhance the support we provide our leade￿, we have introduced an improved programme which has started
well and comprises the follo￿ng elements..
Leaders Forum - We VAII continue lo hold the annual Leaders Forum for all Leaders in our ne￿ork. Each Forum
will comprise a specialisi speaker discussing a lopic relevant to eady-siage social enlerpnses, and then the
session will open up for Q&A and netsvOr￿.ng. In the past, these have induded subjects such as Crowdsourcing.
ED&I. and Scaling. and have proven to be productive in encouraging debate, sharing experience5 and leaming,
best pracb"ce, and providing an overall sense of belonging lo the Shackleton community-
Knowledgo Hub - We aim to build an online plarform solely for Shackleton Leaders, vsed to signpost helplul
online fesources. These reSoUr￿S can be posted by ShacWeton stsff, Trustees and Leaders, bul will also
indude an FAQS sethon develope(i by the most common questions posed by. and answered by. Leaders.
Mentofshlp Programme- This is a new inibative where each new Shackleton Leader w￿1 be mentored 1..1 by an
existing Leader for Iheir first years lor a Tru51ee). Our grants are awarded to those in their earty y&ar5 of
establishing their social iniliabves so having a connection wth someone who has Ir3velled a similar path ¥MII
provide unique guidance. insight and o)unsel.
Léaders Infomiatlon and Advico Suryefies - We will also introduce three online surgeries per year, where a
panel compnsing both Shackleton Trustees and Leaders. will be on hand lo answer ad-hoc question5 from other
Leaders around all aspecls of soual enterprise. These w￿1 further extend the sharing of challenges and
solubons.
Page 4

THE SHACKLETON FOUNDATION
(A cornpany Ilmltod by guarante8)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance of the foundatlon (contlnued)
For Ihoso interested. an impact report {2022) can be found on the Shackleton Foundation website. Published
èvery Ihree years il shares the evidence of the impact that il has, and to ensure thal it meets ils objectives, leam
from ils weaknesses, and continues to keep the Foundabon relevant and purposeful in reali5ing its vision for a
society where young people can thrive and Ilourish. Key findings show that 810A of proiects funded are still
operating len years after receiving an award, 69% of projects funded mel or exceeded their milestones. and
overall, Ihey show a 9x increase in lumover. Ihree years on from the grant award.
Flnanclal revlew. Investment pollcy and reserves
Reserves pollcy
The Foundation receives its principal funding from donations. Totsl incoming resources for the year were
£27.350 {2023'. £13,190)- Total resources expended in the year were £62,$4012023.' £61.5321 and the resulting
net deficit was £35,190 {2023'. nel deficit £48,342). All funds are unreslricled and the fund balance al the end of
the year was £61.971 12023.. £97,161). Of the fund balance. £10.000 12023. £7,000) is accounted for as
oulslanding loans lo Shackleton Leaders. Therefore the avarfable funds lo b8 dispersed as al the year-end was
£51.971 (2023.. £90,161).
The Foundation aims for reserves lo be maintained to meet the cnsl of fijture proJ8cls. The Trustees wll
continue lo review their reserves policy on an annual basis.
The Shackleton Foundation had no ongoing financtal Commitments as of 31 March 2024 beyond those liabilities
disdosed in the balance sheet. The Trustees review the risks the charity faces on a regular basis and have
procedures in place lo manage those risks identified.
During the year £40.000 was awarded as grants and one loan of £10.000.
Rlsk register
During the year, the Truslees considered the major risks lo whtch the Foundation is exposed and the systems
which it must mitigate them. The following areas of risk are considered most important.. -
Failure to achieve objecttves.. and
Failure to fundraise adequately io continue making awards
The Foundation has poliaes. procedures. and systems in Pla￿ to address the idenbfied risks.
Structurep governance and management
The Shackleton Foundalion is a registered charity (number 1118686). and is a private company limited by
guarantee, (company number 61076941. incorporated and registered in England and Wales. The original
goveming document of the Foundation is the Memorandum and Arkncles of Asswation and the company was
incorporated on 15 February 2007.
The Board of Trustees is entiued lo appoint Trustees in accordance with the c¥)nstilution.
Page S

THE SHACKLETON FOUNDATION
(A company limit•d by guarante8)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trusteès. responslbllltles
The Trustees (Ntho are also the direclors of the Company for th8 purposas ol ojnpany law) are responsible for
preparing the Truslees. report and the finanaal statements in accordance with applicable law and United
Klngdom A¢¢ounting Standards (United Kingthyn Generally Accepted A¢cJJunting Practice).
Company law requires ihe Tnjslees lo prepare financial stslemenls for each financial year. Under company law,
the Trustees musl not approve the financial slalements unless they are satisfied that they give a true and fair
view of the stale ol affairs of the Company and of its incoming resources and applicalN)n of resources. including
Ils income and expendilure, for that penod. In pr&pariryJ thes8 financial stalemenls, tha Trustees are required lo..
select suitatrAe ac(y)unts"ng wlries and then apply them Lxinsistently.,
observe the melhods and principles of the Chanlies SORP IFRS 102},'
make judgments and accounbng eslimales that are reasonable and prudent-
slate whether applicable UK Acc(MJnling Standards (FRS 102) have been followed, subj'ect lo any material
departures disdosed and explained in the finanual statements-
prepare the financial stalements on the going concem basis unless il is inappropriate lo presume that the
Company will conlinue in business.
The Trustees ar8 responsible for keeping adequate accounting records that are sufficient lo show and oxplain
tha Companys transactions and disclose wrlh reasonable accuracy al any Iimg Ihe financL41 position of the
Cornpany and enable them to ensure that the financial stslements comply ￿th Ihe Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hen￿ for EakiThJ reasonable steps lor the
prevention and deleth.on of fraud and other irregularities.
Approved by order of the membets of the board of Trustee5 and signed on their behalf by".
Charfotte Haffield
TnJslee
Dale..
Page 6

THE SHACKLETON FOUNDATION
IA company limlt&d by guarant••)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
IndBpendent Examlnerfs Report to tho Trust99¥ of The Shacklaton Foundatlon ('thg Cornpan￿)
I report lo the charity Tnjstees on my examinalion of the ac££MJnts of the Company for the year ended 31 March
2024.
Responslbllltles and Basls of Report
As the Truslees of the Company {and its directors for the purposes of company law) you are responsible for the
KKeparatson of the accounts in accordance with the Tequirements of the Companies Act 2006 ('Ihe 2006 Act.).
Having satisfied myself that the aecwnts of the Company are not requir8d to be audited under Part 16 of the
2006 Act and are eligible for independent examination. I report in respect of my examination of the Companls
accounts carried out under section 145 of Ihe Charities Act 2011 ('th8 2011 Act.). In caffwng out my examination
I have followed the Directions given by Ihe Charity Commission under section 14515)Ib) of the 2011 Act.
Independent Examlnerfs Statemenl
I have completed my examination. I confimi that no matters have come to my attents'on in connection with the
examinatson gi￿n9 me cause to believe:
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act.,
or
the accounts do not aeeord with those records: or
the accounts do not comply th the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view whith is nol a matter considered as part of
an independent examination.. or
the accounts have not been prepared in accordance wtth the methods and prinaples of the Statement of
Recommended Practice for accountsng and reporting by charitses lapp11￿ble lo chanlies preparing their
a￿VnI$ in accordance wrth the Financial Reporting Star￿ard applicable In the UK and Republic of
Ireland IFRS 102}1.
I have no concerns and have come across no other matters in connection with Ihe examination lo which
attention should be drawn in this report in order lo enable a proper undet51anding of the accounts to be reached.
This report is made solely to the Companls Trustees. as a bcmjy. in accordance wtth Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Companls
Trustees those matters l arn required lo state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent pemiitted by law. I do not 2￿p1 or assume responsibility to anyY)ne other than the
Company and the Companvs Trustees as a bcmjv. for my work or for this reFo
Signed."
Dated.. 19 September 2024
Michael Bath Bsc FCA DChA (Senior stslutory auditor)
James Cowper Kreston
Chartered Accountsnts
2 Communications Road
Greersham Business Park
Greenham
Newbury
Berkshire
RG19 6AB
Page 7

THE SHACKLETON FOUNDATION
IA company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and lega¢Fe$
27,350
27,350
13.190
Total Income
27.350
27.350
13.190
Expendlture on:
Charitable acbvitses
62,540
62.540
61,532
Total expenditurn
62,S40
62,540
61,532
Net Income
135.190)
135.1901
148,342)
Net movement In funds
{35.1901
{35,190)
148,3421
Reconciliatlon of funds:
Total funds brought forward
Nel mvement in funds
97,161
135.1901
97,161
135,190)
145,503
{48,3421
Total funds carrled forward
61.971
61.971
97.161
The Slatem6nt of Finanaal Activities indudes all gains and losses reeognised in the year.
The notes on page$ 10 to 18 form part of these financial ststemenls.
p￿e8

THE SHACKLETON FOUNDATION
{A company limited by guarantoel
REGISTERED NUMBER: 06107694
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Current ass•ts '
Debtors
Cash at bank and in hand
10.000
$6,891
47,0
55.221
66,891
102,221
Creditors.. amounts falling du9 Within one
year
(4.920)
15,0601
Net current assets
61,971
97.161
Total net assets
61.971
97.161
Charity funds
unrestn.cied fvnds
10
61.971
97,161
Total funds
61.971
97,161
The Company was entiued to exemption audit under wtion 477 of the Companies Acl 2CK)6.
The members have not required the company to oblain an audit for Ihe year in queS￿n in accordance ¥￿th
section 476 of Companiés Acl 2006.
The Trustees acknovAedge their responsibilities for ¢xmplyFng the requirements of the Act with respect lo
accounting records and preparalK)n of finanaal statements.
The finanryal slaiemenls have been prepared in accthance with the prowsions applicable to enlilies subject lo
the small companies regime.
The financial stslemenis were approved and authorised for issue by the Trt￿lees and wgned on their behalf by.
e•e(d
Charlotte Haffield
Trnslee
Dale".
The notes on pages 10 to 18 form part of these finanual statements.
Page 9

THE SHACKLETON FOUNDATION
IA company limited by guarantgel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollclès
1.1 Basis of preparatlon of financial statements
The finanual stalements have been wepared in accordance with the Charities SORP IFRS 1021 .
Accounb'ng and Reportsng by Charities.. Statement of Recommended Practice applicable to charib.es
preparing their finanoal stslements in a￿￿ordanCe the Financtal Reporting Standard applicable in
the UK and RepUl￿1t ol IrelaTMJ IFRS 102) leffeclive 1 January 20191, the Financial ReEh)rting
Standard applicable in Ihe UK and Reput4ic of Ireland IFRS 1021 and ihe Companies Ad 2006.
The Shackleton Foundation meets the definrbon of a pU￿1C benefit entity under FRS 102. Assets and
liabilrties are initially recognised at hisloficxl cost or transact￿ value unless otherwse stated in the
relevant accounting p)licy.
1.2 Company Status
The charity is a company limrted by guarantee. The members of the company are Ihe Tfuslees
named on page 1. In the event ol Ihe charity being wound up, Ihe IkAbility in respect of the guaranlee
is limiled lo £1 per mèmber of the charity.
1.3 Golng eoncern
The financial stalements have been prepared on a going concem basis. The Trustees have
assessed whether the use of going concern assumpb'on is appropriale and are satisfied that the
charity can continue in operats'onal existence for a penod of al least one year from the dale of
aulhorisalion ol these financial slalements. This assessment includes consideration of the f8cI that
the Charivs finanoal oulgoings are wthin the control ol the T￿sleeS, wth income grant awards
based on a long lem cLJmmitmenl covering l)oth brning and amount of incoming cash receipts and
minimal fixed oulgoings.
1.4 Income
All income is recognised once the Company has entiuement lo the income. rt is probable that the
income will be received and the amount of in¢ome receivable can be measured reliably.
Donaled services or faeilities are recognised when the charity has control over the item, any
condibons asSo￿ated wth the donated iiem have been met. the receipt of economic benefit from the
use of Ihe Charity of the ilem is probable and that economic benefEI can be measured reliably.
On receipt. donated professiond services and donated facilities are recognised on the basis of tho
value of the gift lo the charity which is the amount the chanty woijld have been wlling lo pay lo oblain
services or faolrtjes or equivalent economic benefft on the open market., a c4Nresponding amount is
then recx)gnised in expenditure in the penod of receipt.
Income tax recoverable in relation to donations received under Gift AKI or deeds of covenant is
recognised at the ts'me of the donab"on.
Income tax recoverable in relation to investment income 15 recognised at the time the investment
income is recervable.
Page 10

THE SHACKLETON FOUNDATION
{A company limited by guarantgel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcl8s (contlnu•d)
1.5 Expondlturo
Expenditure is recognised once there is a legal or consirvcts.ve obligation to transfer economic benefit
to a third paty. il is probable thal a transfer of economic benefits will be required in settlement and
the amount of the obligaknon can be measured reliably.
AJI expenditure ts acc*)unled for on an accruals ba￿s. Al expenses induding support costs and
govemance costs are all￿ated lo the applicable expendtbjre headings.
Expenditure on thantable a¢*vth'e5 is irKurred on direcmy undertakn'ng the ath'vibes which further the
Companys oty"ectives. as well as any associated SUPFUt costs.
Support costs are those costs incJJrred direclly in suptM)rt of expeThJiture on the c*Jjecls of the charity.
Govemance cosls are Ihose incurred in conneclh)n with administrats'on of the charity and compliance
with consb"tutional and slalutory requirements.
Grants payable are charged in the year when the offer is made excepl in thjse cases where the offer
is conditional, such grants being reccKJnised as expenditure when the condilions attaching ar
fulfilled. Grants offered Subject lo condib.ons which have not been mel at the year end are noted as a
commrtmenl. bul not accrued as expenditure.
AJI expenditure 15 indusive of irrecoverable VAT.
1.6 Debtors
Trade and other debtors are recognised at the sewement amounl after any trade discount offered.
Prepayments are valued at the amount prepaid nel of any trade discounts due.
1.7 Loans to Leaders
Where the Trustees have agreed to make an award but the project is not a Registered Charity or a
Community Inleresl Company. it is deemed lo be a loan rather Ihan a grant and repaydble when th8
project comes inlo profrt.
1.8 Cash at bank and In hand
Cash al bank and in hand indudes cash and short lemi highly liquid inve5trnenls with a short maturity
of three months or less from the dale of acquisitson or opening of the deposit or similar account.
1.9 Creditors
Liabilities are recognised when there is an obligation al Ihe Balance sheet date as a resull of a past
event. it is probable thal a transfer of economic benefit wll be required in settlement. and Ihe amount
of Ihe setuement car¢ be esknmaled reliably.
Liabilities are recognised al the amount that the Company anlicipale5 11 ￿11 pay lo settle Ihe debt or
the amount it has received as advanced payments for the goods or servi￿$ it must provide.
1.10 Financlal instruments
The Company only has financial assets and financial liabilities of a knnd that qualify as basic financial
inslrumenls. Basic financial instruments are initsally reccNJnised al transaction value and subsequenuy
measured al their setuement value.
Page 11

THE SHACKLETON FOUNDATION
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcle3 (contlnuedl
1.11 Critical accountlng estlmates and areas of Judgement
Estimates and judgements are conb'nually evaluated and are based on hislorical experience and
other factors, indudiThJ exF*clations of future events that are believed to be reasonabte under the
circumsiances.
Crilical a￿untIng estimales and assumptions..
The charity makes eslimales and assumptions Con￿mIng the future. Tho resulb'ng accounting
oslimales and assumptions win. by definrtion. seldom equal the related actu81 results. There are no
eslimales and assumptions that have a shJnific4nt risk of causing a material adiustmenl lo the
carrying amounts of assets and liabilities ￿thin the nexl financial year.
The most signrficanl judgement involved is whether the loans made to for-profil entities a￿ fvlly
recoverable. ￿TIh an associated significanl estimate over the amounl of outstsnding loans that will be
recovered.
1.12 Fund ae¢ountlng
General funds are unreslricled funds which are available for use 81 the discretion of the Trusl8es in
fijrtherance of the general objeth"Yes of the Company and which have not been designated for other
purposes.
Designated funds comprise unreslricled funds that have been sel aside by the Tnjslees for particular
purposes. The aim and use of each designated lund is set oul in the notes lo the financial
slalements.
Page 12

THE SHACKLETON FOUNDATION
IA company limitod by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donatlons and lega¢lè$
Unrgstricted
funds
2024
Total
funds
2024
Total
funds
2023
Oonations
27.350
27,350
13,190
Total 2023
13,190
13,190
Analysls of awards
Awards to
Leaders
2024
Total
funds
2024
Tolal
funds
2023
Grants awarded
40,000
40,000
40.000
Total 2023
40.0(KI
40.000
so during Ihe year awards of £10,0(XI (2023.. £nil) were loaned lo irMIivMluals. These are induded in
other debtors al the year end.
Analysis of expenditurg on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Total
2023
Direct and support costs
Expenditur8 on govemance
56,097
6.443
56,097
6,443
57.241
4.291
62.540
62,540
61.532
Totsl 2023
61.532
61,532
Page 13

THE SHACKLETON FOUNDATION
(A company lirnitèd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysls of expendlture by adlvltles
Grant
fundlng of
activltles
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Direct and supwrt costs
Expenditure on governance
40.000
16.097
6.443
56,097
6.443
57.241
4.291
40,000
22.540
62.540
61.532
Total 2023
40,000
21,532
61.532
Analysis ol support costs
Total
funds
2024
Total
funds
2023
Pnnting costs
Administration ¢yJsts
Website costs
Personnel costs
Tnjslees insurance
Audilorfs remunerati
Legal costs
Consultancy costs
192
322
633
14.950
316
360
1,260
14.400
311
5,760
367
3,612
1,125
22.540
21,532
Independent examinpffs remuneration
The independent examinerfs remuneration amounts lo an independent examiner fee of £4.920 r2023
- £3.612), and other sernces of £84012023- £ -1.
Page 14

THE SHACKLETON FOUNDATION
(A company Ilmitgd by guarantefrl
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees. remuneratlon and expenses
During the year. no Truslees receivod any remuneration or other b8nefits12023 - £NIL).
During Ihe year ended 31 March 2024. expens85 lotalling £NIL were reimbursed or paid directly lo
Trustees (2023 - £Nill.
Debtors
2024
2023
Due after more than onè year
Outstanding loans made lo Shackleton Leaders
Due wlthin one year
Outslanding loans made to Sha￿elon Leaders
Accnjed income
10.000
7.000
40.000
10,000
47.000
Included within accrued income is £nl12023 - £40.￿0> from th8 Oak Foundation. This ￿lateS lo a grant
receivable which have been recognised In previous years payable in tranches over several years. The
grant was fully repaid during the year.
Creditors: Amounts falllng due wlthln one year
2024
2023
Accnjals
4,920
5,060
Page 15

THE SHACKLETON FOUNDATION
(A company lirnitod by guarant&•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Statement of funds
Statement of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Deslgnated fiind$
Core support
40.000
{40.0001
General funds
Unrestn'cled funds
57.161
27,350
(62.540)
40.000
61,971
Total Unrestricted funds
97,161
27.350
162,5401
61.971
Statement of funds - prior ygar
Balance al
31 March
2023
Balance at
1 April 2022
Transfers
inloul
In¢ome Expenditure
Designated funds
Core support
80.000
140,000)
40,000
General funds
Unrestricled funds
65.503
13.190
161.532)
40,000
57,161
Total Unrestricted funds
145.503
13,190
161,5321
97,161
Doslgnated funds
Core support
This 15 a donat￿ from The Oak FOundat￿n whic* has been received during the year ended 31 March
2024.
Page 16

THE SHACKLETON FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Summary of funds
Summary offunds- Current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
Inlout
Income Expendlturg
Designated funds
General funds
40.000
57.161
(40.000)
40,000
27,350
(62.5401
61.971
97.161
27.350
{62.540)
61,971
Summary of funds - prlor year
Balance al
31 March
2023
Balance 81
1 April 2022
Transfers
inloul
Income Expendrture
Designated funds
General funds
140,0001
40.000
40,000
57,161
65.503
13,190
(61,532)
145.503
13.190
(61.5321
97,161
12. Analysls of net assets between funds
Analysls of net assets between funds - cutrent period
Unrestrlcted
funds
2024
Total
funds
2024
Debtors due after more than one year
Current assets
Creditofs due within one year
10.000
56,891
{4,9201
10,000
56.891
14.920)
Total
61.971
61,971
Page 17

THE SHACKLETON FOUNDATION
(A company limited by guaranteg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2024
12. Analysls of net assets between funds (contlnued
Analy$i$ of ngt assets between fvnds - prlor year
Unrestricted
funds
2023
Total
funds
2023
Current assets
Creditors due within one year
102,221
{5.0601
102.221
15.0601
Total
97.161
97,161
13. Related party transactions
During Ihe year. there were no transactions wilh relaled parb'es.
14. Controlllng party
The charity is controlled by tls Trustees.
Page 18