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2022-08-31-accounts

Charity number: 1126568

THE SHM FOUNDATION

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

THE SHM FOUNDATION

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 14
Independent examiner's report 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 31

THE SHM FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022

Trustees Professor M Biriotti
Professor H L Moore
Professor S Fidler

Charity registered number 1126568 Principal office 20-22 Bedford Row London United Kingdom WC1R 4EB Accountants James Cowper Kreston Audit Chartered Accountants 2 Communications Road Greenham Business Park Newbury Berkshire RG19 6AB Bankers Lloyds TSB PO Box 72 Bailey Drive Gillingham Business Park Kent ME8 OSL Charity Aid Foundation 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA

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THE SHM FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees present their annual report together with the financial statements of the Charity for the year from 1 September 2021 to 31 August 2022.

Objectives and activities

Our year

This year has been a year where we have seen some amazing accomplishments for us an organisation and the partners we work with. Despite the challenges that COVID has brought across the globe we have continued to grow our work in the Arts, Education and Citizenship and mental health. We have stuck to our principles of being relevant in all the work that we do, responsive and caring in our approach.

There is so much that I could mention of what I am proud of but I would particularly like to highlight the work we have done to create support systems for marginalised groups so that they can enter employment. We have taken a holistic approach to understanding the barriers that prevent individuals from entering employment and put together support systems in place so that they can achieve their aspirations. We have done this in our work in Kenya through the Marakwet project providing opportunities for 39 individuals to enter higher education. We have supported 15 refugee women of middle eastern background in the UK to enter employment who would have otherwise not received any support. And we have provided support to over 20 young people in South Africa who form part of the Khuluma mentor programme to work on their professional development. At a time where unemployment rates are very high in South Africa, we have worked with them to provide them opportunities to build their skills in technology, mental health support and facilitation. I am very excited to see how they all progress professionally; how this expanded network grows; and who could become potential new collaborators and partners.

We have continued to grow our wellbeing fund and are advocating and supporting other partners to do the same and we take the wellbeing of our team and the partners that we work with very seriously.

None of the successes of this year could have been done without a wonderful, committed and passionate team. Thank you, Zuzana Figerova, Francesca Zinetti, Iona Gaskell, Malebo Ngobeni, Tebogo Konkobe, Ashleigh Beukes, Rini Sinha, Nikita Simpson, Georgina Miguel Esponda, Natasha Adomako, Yasmine Uddin, June Larrieta, Hugo Schlesinger, Victoria Marks, Desmond Chauke, Kelebogile Motlopye, Jara Lindsay, Joshua Olins, Olivia Gutierrez, Sama Kamal and our incredible Khuluma mentors!

Lastly, we are forever grateful to our founders Professor Maurice Biriotti and Professor Dame Henrietta Moore for their continued support and generosity to the SHM Foundation, both in the financial investment and in the intellectual thinking that runs through all the work we do at the SHM Foundation. We are also very grateful for the support and guidance of our Trustee, Professor Sarah Fidler.

Anna Kydd

Director of The SHM Foundation

Our story

In 2008, three friends – Sophie, Henrietta and Maurice – came together to create the SHM Foundation. Sophie Manham was a filmmaker, Professor Henrietta Moore an anthropologist, and Professor Maurice Biriotti an academic. They wanted to draw on their different skill sets and build a community of people who would work together to drive positive social change through projects that foster care, creativity, and human connection.

The SHM Foundation has grown steadily in the years since into a multidisciplinary team of 17 people based in 6 countries. We have designed, implemented and funded projects with vulnerable communities across 19 countries, spanning mental health, education and the arts.

Today our mission is to support people and communities in developing solutions to the challenges they face, in ways that work for them. We believe firmly in the ripple effects that are felt in communities, organisations and societies, when people feel supported, cared for and capable to exercise agency in their own lives.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

About us

We are a forward-looking philanthropic organisation working globally to drive positive social change in the areas of mental health and wellbeing, education and livelihoods, and access to the arts. Based in the UK, we have offices in London and Pretoria, South Africa, and work with partners in 14 countries. We design and implement our own initiatives, conduct participatory research and provide grants to other organisations and projects. As a small foundation, we fund our own initiatives and also seek funds in partnership with other organisations.

Many of our initiatives are supported by SHM Productions Limited, a business consultancy based in London. Being a foundation arm of the private company gives us the advantages of being able to use their offices and also to leverage a wide range of skills amongst their staff, and second them to the Foundation projects where needed. This model ensures the Foundation’s sustainability and financial stability.

Our work is varied, often bridging different disciplines, countries and issues, but it’s focused around three key missions. We support people, communities and organisations to:

The objects of the SHM Foundation are to undertake for public benefit any purpose that is charitable according to the laws of England and Wales as the trustees shall, in their absolute discretion, decide. Our work is always guided by our ethos of taking an empathetic, human approach to solving complex problems.

This year we committed £280,413 to fund our global initiatives.

Our values

We, at the SHM Foundation, are firm believers that in order to work well as a team and to produce high quality work, we need to have values in place that we all believe in and that guide us every day. The values that form the foundation of everything that we do and who we are as we look to the future are:

Care

Our biggest priority is to look after one another and the people we work with. For us, dedicating time and energy to making sure we are all coping is not an add-on – it’s at the heart of our approach.

Connection

As a team spread over six countries, we’ve always known that you don’t need to be in the same room to create meaningful human connection. While we keep open to a flexible working environment, we’re staying close by sharing stories, coping strategies and light relief in our team meetings.

Commitment

Our dedication to our partners and to providing them with the support they need has not changed. We recognise that their needs change from time to time and we are being responsive to these shifts and tailoring our support to the present moment.

Creativity

We value creative work and creative communications as we see the power this has in engaging people with the topic of mental health, humanising and destigmatising mental health struggles, and shining a light on the wealth of innovation in the sector.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

Responsiveness

We recognise that our partners operate in different environments, often very challenging ones, that their circumstances change and that they need to be constantly adapting their services to respond to their communities’ needs. We believe that it’s important for us to be quick, flexible, and empathetic, so that we can support them in the best possible way in their important work.

Our approach

We base our approach on five pillars:

1) Participatory leadership

2) Community-led design We collaborate with communities to co-design programs, implement them and evaluate their impact. We value the wisdom and first-hand experience of our participants and we believe that effective and sustainable programs can only be designed together with them.

3) Caring Ethos We dedicate time and resources to supporting the wellbeing of our team, partners and participants. For us, this is a priority, not an add-on.

4) Creative mindset

Art and design are powerful tools in helping people express their stories and enabling others to connect with them, and in showing those perspectives the respect they deserve by taking care in the way they are captured. That’s why creativity has a central place in all our work.

5) Responsive Innovation

The world is constantly changing, so we are too. We are always learning, innovating and adapting so that our work remains relevant and impactful, and so that we can act fast when our support is needed most. We are not afraid to pioneer new approaches.

Our projects at a glance

We work in three different areas: Mental Health and Wellbeing; Education and Livelihoods; and the Arts.

MENTAL HEALTH & WELLBEING

What’s the story?

Health was one of the very first areas that the SHM Foundation started to work in 13 years ago. Our work started in Mexico when Anna, now the director of the SHM Foundation, noticed that men and women living with HIV were facing high levels of stigma and had few opportunities or spaces to share their stories and find solace, support and advice from their shared experiences. This sense of isolation was having a negative impact on both their mental and physical health. Anna, working with Maurice Biriotti (CEO of SHM Productions, a consultancy firm), co-founded a project called Zumbido, looking at how to provide support systems for those living with and affected by HIV in Jalisco, Mexico. The mobile phone seemed like the perfect tool to enable this model: it was accessible and enabled immediate and intimate communication. Using a group SMS technology, a support group via text message was designed, allowing participants to send and receive text messages within a closed group of 10 to 15 participants in rural and urban areas. Within a month, the group participants exchanged over 500,000 text messages.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

Over the next 13 years, the Zumbido Health model has been refined, adapted and replicated in the UK, Guatemala, South Africa, Zambia and Zimbabwe and it is now flagship program of the SHM Foundation in the area of health. Over the years, we learnt through this work that mental health is a hugely important area, connected to so many other parts of life and that community-based initiatives are particularly well placed to respond to mental health needs in their settings. The problem is, they don’t get the visibility and resources they need to sustain and grow, and the expertise and insight of local initiatives too often goes unrecognised. That is why in 2018 we decided to found Ember, our flagship mental health programme that mentors and funds excellent community-based mental health initiatives around the world. Ember’s goal is to support a diverse, inclusive ecosystem of mental health care to flourish worldwide, so that everyone can access the help they need, where they are, in ways that work for them.

Zumbido Health

The Zumbido Health model uses mobile phones to create virtual social support groups for vulnerable, isolated populations. These support groups are enabled by our digital platform, where participants discuss - peer to peer, at any time via text message - a range of issues pertinent to their condition or needs. Addressing social emotional wellbeing is crutial to improve the lives of people living with chronic health conditions.

Under Zumbido Health we have run the following programmes this year:

Khuluma Productions - South Africa

Khuluma Productions is a continuation of our long-standing program, Khuluma, which we have been running in South Africa since 2013. The project aims to support long standing Khuluma mentors with their mental health & wellbeing, and enhance their employability skills. Most of the Khuluma mentors have previously been part of the Khuluma groups who decided to stay on and train to become supporters for other young people living in a similar situation. Over this year social isolation, difficult family situations and economic hardships are some of the elements that have really been highlighted. This year we have focused on providing 20 Khuluma mentors with means, such as laptops and tablets, to be able to take part in the project activities through a number of COVID related lockdowns in South Africa; the mentors have been able to attend and to complete their respective courses in Computing and Life Skills with the Catholic Institute of Education, in South Africa; they have taken part in the design of the digital support groups for 44 new adolescents living with HIV, including recruitment, groups facilitation and monitoring; and 6 mentors have also started to work on the research study about the insights and current issues young people living with HIV/AIDS face. The findings of this work will be available at the end of 2022. Furthermore, we have provided digital support groups for 44 new adolescents living in semirural areas in Pretoria. The insights from the groups as well as the above mentioned research piece will inform further direction of this programme and what the key ingredients are for its sustainability.

The Young Mother’s Lounge - Zimbabwe

The project aims to scale up an integrated virtual support system for pregnant and breastfeeding mothers living with HIV to improve health & wellbeing. It layers on top of Zvandiri’s Young Mentor Mother (YMM) program that trains adolescent mothers to support their peers with adherence and Sexual Reproductive Health services. It leverages SHM Foundation’s advances in virtual psychosocial support to provide YMMs & Young Mothers with a single mobile platform where they can access support and training. The overall objective of this project is to build an integrated virtual support system for Zvandiri’s YMMs that has a cascading impact on their beneficiaries. This year we have focused on training 75 YMMS in delivering psychosocial support in a safe virtual space and working on a ‘tool box’ to improve their resilience and independence. The tool box contains certain tools that the Young Mothers have voiced that they need such as mental health sessions and tools in economic strengtheningthis will overall help improve their overall wellbeing. We have also started a recruitment process and a set up of digital support groups for 750 young mothers living with HIV in 11 regions of Zimbabwe. Next year will be critical for this project and we will be looking to engage 750 young mothers in the digital support groups and looking at the benefits of this project for this population.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

Insaka - Zambia

The project is part of a larger collaborative study, funded jointly by the MRC and DFID, aimed at addressing the needs of adolescents living with HIV in Lusaka, Zambia. Over the course of 2020 and 2021, The SHM Foundation, in collaboration with Zambart, provided a peer-to-peer support group intervention component for adolescent pregnant women aged 15-24 years living with HIV, with the aim to find out if taking part in the mobile phone-based peer-to-peer support groups can have positive biomedical outcomes around adherence. 63 participants took part in support groups facilitated by peer support workers andlevels of engagement for this group were exceptionally high, with participants sending over 70,000 text messages. When this project came to an end, the Insaka participants expressed the will to continue to interact and support each other. In order to facilitate this, we have been able to redirect funds to facilitate four workshops between November 2021 and March 2022 aimed at understanding what worked, co-designing a new iteration of the model and innovating the technology platform. The findings from these workshops are currently being analysed.

AT2030 - Indonesia and Sierra Leone

The SHM Foundation is collaborating with the Bartlett at the Development Planning Unit of University College London (DPU) as part of AT2030, a large-scale research and innovation programme involving 9 million people that aims to improve access to life-changing Assistive Technologies (AT) such as wheelchairs, hearing aids, glasses and digital assistance (including smart phones and accessible software). We worked with DPU and local organisations in Indonesia and Sierra Leone to understand patterns of use, challenges and attitudes towards mobile phones by people living in informal settlements, particularly people with disabilities. Drawing on insights from this research, we then designed a mobile phone-based intervention in Freetown, Sierra Leone, to support increased access to and dissemination of accurate health information by people with disabilities and their carers.

Ember

Ember Mental Health is a programme by the SHM Foundation, founded in 2019 in collaboration with the Mental Health Innovation Network at the London School of Hygiene and Tropical Medicine.

Ember aims to radically transform the landscape of global mental health. We believe addressing the global mental health crisis does not lie in identifying a few “silver bullet” solutions, but rather in nourishing a diverse ecosystem of care that grows from within communities. Through the Ember Fund, we support and invest in innovative locally-led mental health initiatives in low-resource settings by providing tailored support composed of both mentorship and funding, so that they can grow and thrive.

Over the last three years we have incrementally piloted and refined the Ember model. The overarching impact of our work in the long-term is that the initiatives who partner with Ember are more able to sustain their important work; to scale it up or replicate it in line with their ambitions; and innovate their models to address new needs. All of this means that they reach more people with psychosocial disabilities, and have a bigger and more sustained impact in the diverse dimensions of mental health in which they are operating.

By implementing Ember’s radically different approach to supporting mental health initiatives that combines elements of business consultancy, participatory design, creative learning and trust-based philanthropy, we aim to impact not only the initiatives we partner with in our cohorts, but also to contribute to the efforts of creating a flourishing global mental health ecosystem, with different elements contributing symbiotically to the overall health of the whole.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

Education and Livelihoods

What’s the story?

Education was one of the first areas which the SHM Foundation was involved in. Our Co- Chair, Professor Henrietta Moore, had established her academic work and relationships with many young inspiring people in Eldoret, Kenya, long before the SHM Foundation’s official conception. In the area of education, we look to increase active citizenship of children and young people. We believe that the best way of responding to social and political challenges is to get people to take a lead. We aim to equip people to understand and tackle the issues they care about.

Marakwet Education Project

In Kenya, we’ve continued to support the Marakwet project, which aims to improve the transition from primary and secondary education to higher education. We are proud of all of our students who have continued their studies during this challenging year. In total, we supported 39 students studying a range of qualifications.

One of the highlights this year has been our meeting with some of the students in Nairobi. We spent a nice day, talking about their excellent academic achievements, their future plans, but also the challenges that they face due to the worsening economic situation and the Kenyan elections. The SHM Foundation team assured the students that the Foundation remains committed to supporting them in their education but that we also want to extend our support beyond their educational needs and design a wellbeing package that would address some of the challenges that the students face.

Project Noor

Project Noor is a new project implemented by the SHM Foundation in partnership with the Max Barney Foundation. The aim of the project is to work with a demographic group that is particularly disadvantaged when it comes to securing a decent livelihood: older refugee women of Middle Eastern heritage. The purpose of this project is to support these women into employment or self-employment by the end of the project through working with them to co-design solutions to the barriers they face in getting there. We are taking an integrated participatory and person-centred approach to this work, while drawing upon the SHM Foundation’s existing tools, resources and expertise. The project’s two primary objectives are to improve the employment status and employability of the participants and to develop assets, methodologies and tools that can be used to reproduce and scale up the person-centred approach that we are looking to develop in this project with other refugee communities in future.

Through the connections we made in the first stage’s needs assessment, we were able to map out the available support services provided by organisations, individuals and the Home Office, and create a referral network that helped us to utilize the available resources in the best way possible, without duplicating any existing work. We provided support for 12 women so far, with varied resources, activities and services provided across the cohort, depending on their needs. Some participants have continued their language lessons accompanied by digital literacy classes, job-specific training and other types of personalised support to gain the skills needed to start applying for jobs and getting the job they aimed towards. Others are getting specific career-related training by interning and working part-time to gain experience. We utilised our expertise and resources in combination with our referral’s partner organisations to be able to provide the best support possible.

Over the last year, we also designed a participant’s identification and diagnostic tool to be able to use for each participant to highlight their needs and ambitions and also to serve as a monitoring tool during implementation.

One of the biggest achievements of the Project Noor has been that all 12 participants are either in full-time or part-time employment, and some are gaining valuable volunteer experience which will help them gain paid employment. Another thing that we are proud of is the positive feedback the participants shared with us. They told us that having been part of an initiative where participants share a common background, language and sometimes culture is very important to them and it makes a positive impact on their day-to-day lives as well as it makes their integration easier.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

Access to the Arts

What’s the story

The SHM Foundation’s work in the arts is based on the vision that great art should be for everyone and should be an integral part of how we learn. Over the years we’ve supported a number of projects in visual arts, music, and theatre that aimed to expand the pool of people benefiting from excellent artistic experiences.

The Royal Academy of Music

This year we have continued working on a project with the Royal Academy of Music, an institution that nurtures talent, scholarship and performance at the highest level of classical music. Programmes dedicated to community outreach, and to widening access to and participation in the Academy’s activities, are core to their mission. Using our creative and participatory methodologies, we worked with the Academy to gain a qualitative understanding of the full value and impact of this work. We have developed a participatory research process that students involved in these programmes will use to evaluate their impact on the full range of stakeholders involved.

Spitalfields Music

This year we have funded a project by Spitalfields Music, a creative charity in East London, whose aim was to support the wellbeing of primary and secondary school students through music. In the aftermath of the pandemic, schools in the Tower Hamlets and City of London are facing a crisis with the mental health and wellbeing of the students in their care. This programme aimed to address this issue through a series of 3 hour music workshops to help students enhance their confidence and emotional literacy by focusing on the power of the voice and music as tools to unite and connect us. Working with the composer and workshop leader Raph Clarkson and Martha Wainwright of the charity Mindful Music, Spitalfields Music not only ran 11 workshops with primary and secondary school students, but also ran sessions with teachers – who had reported to Spitalfields Music that they felt unequipped to deal with many of the mental health challenges they faced in their classrooms – and created a resource pack to assist them in using mindfulness techniques in their teaching and pastoral roles. The project has formed a core element of the schools’ enrichment programmes on the return to school and an opportunity to unpack and begin addressing the many mental health challenges these schools are facing post-Covid.

The Barbican Centre

We continued to support the Barbican Centre and its programme of activities. Our support contributed to Barbican Box 2021/2022 that focused on music, using the theme of ‘empowerment’, as a starting point for creative exploration. The project focused on engaging teachers in schools in the East London boroughs to adapt activities to the needs of their group and build links to the National Curriculum. Our support also contributed to several other projects, promoting access to music from early years children to secondary school students. In addition, we had the opportunity to support some of the projects and performances under the Visual Arts Programme; Theatre; Cinema; and Music.

Good Chance Theatre and Little Amal

We continued to support Good Chance Theatre and their project, Little Amal Walk, that is based on the figure of Amal, a nine-year-old Syrian refugee, who was looking for her mother as she made a journey across Europe to the UK. The project draws attention to the lives of migrants and refugees making their way from Syria to the UK and it is a story of creation, partnership, and extraordinary scale. 3.5m tall Puppet, called Amal, visited 8 countries, walked 8,000 km walk, and saw thousands of people taking part in activities. We are very honored that we could support this extraordinary project.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

Policy on grant making

The SHM Foundation’s grant making has continued to focus this year on grants that support projects in health, learning, citizenship and the arts. Proposals are invited by the Trustees or initiated at their request. The Foundation works directly with the beneficiaries of each of its projects. Unsolicited requests for funding are not encouraged.

Achievements and performance

Summary of our achievements

We at the SHM Foundation are particularly proud of the following achievements in Mental Health and Wellbeing. The achievements are cutting across both of our initiatives Zumbido Health and Ember.

We have continued to support wellbeing of both Ember partners and Khuluma mentors .

We have provided Khuluma Mentors with opportunities to use their skills; improved their access to education; and increased their employment opportunities .

We have continued to accelerate our mission to start changing the current landscape of global mental health and through our work have identified critical nutrients that are needed to support a flourishing Global Mental Health ecosystem.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Achievements and performance (continued)

We have been evaluating our impact, publishing results and boosting our visibility.

We have remained strong advocates for the central place that creative communication, such as storytelling, art and design, plays in helping people express their stories and enabling others to connect with them.

We have expanded our networks .

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves policy

There is £256,241 in the CAF account. The Trustees have decided to maintain free reserves in unrestricted funds in the CAF account at a level which equates to approximately 10 -12 months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds for the running of the Foundation assuming no other funds are received.

Our financials

The SHM Foundation grants were made to the following projects :

Project Ember

A joint funding model between Vitol Foundation, SHM Productions and the SHM Foundation allowed us to give out grants to the Ember partners. A total of £107,275 was made to Twogere Community Initiative, RhoNaFlo, Read For Your Life, Awesome Mind Speaks, Shanduko Yeupenyu, CAFS, Open Hands, Mental Health Service Users Association, Hope Restoration & Health Initiative, Huertomanias, Global Mental Health Peer Network, Girls for Girls, Church of Uganda Kisiizi Hospital, Mental Health & Wellbeing on Campus, KPSI, The Taala Foundation and Positive Konnections – Renewal.

Donations

We received a total of £571,345 in donations and grants.

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management

The Foundation is administrated as a charity by the Trustees Professor Henrietta Moore, Professor Maurice Biriotti and Professor Sarah Fidler. In terms of governance on a day to day basis there is a Director of The SHM Foundation and a Head of Development who is in charge of managing and running the Foundation's projects. Trustees meet at least quarterly; no business can be conducted at meetings unless two Trustees are present.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the finacial statements and comply with the Charity's governing document (Trust Deed dated 15 October 2008), the Charities Act 2011 and ''Accounting and Reporting by Charities: 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)''.

Recruitment of Trustees and training

The composition of the Charity's Board of Trustees is reviewed regularly with a view to achieving a spread of expertise and age, designed to facilitate the achievement of the Charity's objectives. The Trustees keep up to date on their responsibilities by various means, such as reviewing the Charity Commission website, reading relevent periodicals and professional advice.

Our board of Trustees

We are very grateful to our Co-founders and Co-chairs, Professor Dame Henrietta Moore and Professor Maurice Biriotti, and our Trustee Professor Sarah Fidler, for their guidance, motivation, and support. We look forward to many more inspiring board meetings in the coming year and to bringing on board new trustees to join the SHM Foundation Board.

Our partners

None of our work would be possible without our partners.

We would like to thank the Max Barney Foundation for helping us to support refugee women in the UK into employment.

A big thanks goes to the Vitol Foundation for their continued support with Khuluma Productions and Ember Mental Health.

We would like to thank ViiV Healthcare Positive Action for their continued support with the Young Mentors Mothers Programme that we run in collaboration with Zvandiri in Zimbabwe.

When it comes to our academic partners, we are grateful to Imperial College London; LSHTM; Zambart; the University of Pretoria; University College London; and OPHID Zimbabwe. Furthemore, we would also like to thank the Bartlett Development Planning Unit (DPU) at University College London (UCL) for engaging our expertise in the AT2030 Project.

We are also very grateful to our implementation partners: Zvandiri; Kalafong Hospital; the Mental Health Innovation Network; FEDURP (Federation of the Urban and Rural Poor); and SLURC (Sierra Leone Urban Research Centre). Collaborations with these partners have enabled us to successfully run our two flagship programmes – Zumbido Health and Ember Mental Health.

This year, we have met some wonderful new partners who are helping us to change the landscape of Global Mental Health. These are Kokoro Change and the Wellbeing Project.

A very special thanks goes to SHM Productions Limited, our main partner and pillar, for all their support and without whom our work would not be possible. Thank you!

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THE SHM FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management (continued)

Additional governance issues

The Trustees are directors and shareholders of SHM Productions Limited. During the last year, the Charity’s principal sources of funds were donations received from SHM Productions Limited and from income generated from the investment of capital as well as donations made by other charitable bodies to develop collaborative projects with the Foundation. The Foundation always works collaboratively with partner organisations that share its charitable goals and objectives to ensure good governance and sound financial management.

Trustees’ consideration of major risks and the systems and procedures to manage them

The Trustees consider on a regular basis if there are any major risks to The SHM Foundation along with any risks there might be to specific projects that they are currently running. The Trustees are confident that there are adequate systems and procedures in place for reviewing risks and will continue to keep these processes under review.

Plans for future periods

We want to remain relevant and responsive to what is going on in the world and to our partners’ needs. We are planning to revisit the foundation’s overall strategy to ensure that it reflects the foundation’s vision and mission across all three areas of our work which is Health; Education & Employment; and the Arts. We want to be better able to articulate the importance of these three areas and the overlap between them across our global programmes.

We will continue working towards addressing global mental health challenges and meeting global mental health needs. We will continue supporting community-based organisations in the Global South and growing a healthy global mental health ecosystem of care that grows from within the communities that we support. We are committed to looking for like-minded co-funders and partners that will help us grow the Ember Fund to support and invest in innovative mental health initiatives in low-resource settings so that around the world millions more people can access the care they need, where they are, in ways that work for them.

We will continue supporting people into education and employment, and creating opportunities for selfrealization, growth, and prosperity for the people that we serve and for our team. We will keep supporting art projects, not only in the UK but globally, as we believe that the arts have the power to transform people’s lives for the better no matter what challenges they may face or where in the world they are.

We want to keep expanding our network of like-minded partners as we believe that the group of people with a similar vision can achieve much more than when one works alone. We will keep working very closely with our amazing board to make the SHM Foundation even stronger and even more impactful that it is today.

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THE SHM FOUNDATION TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 ststtrment of Trustees. responslbrlities The Trustees a￿ responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practicel. The law applicable lo Gharib"es in England & Wales requires the Trustees to prepare financial stafrments for each financial Mthich give a true and lair view of the Stale of affairs of the Charity and of its incoming resources and application of resources, induding its In￿Me and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select Buitable accounting polirie8 and then apply them wnst¥tentty', observe the methods and principles of the Charities SORP IFRS 1021., make judgements and accounting eslim*es that are reasonable and prudent., state whether applicable UK A¢counling Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless il Is inappropriate to presume that the Charity will continue in business. The Twstees are responsible for keeping adequate accounting records th8t are Sufficient to show and explain the Charty'5 transactions and disclose with reasonable accuracy at any lime the financial p0S￿On of the Charity and enable them to ensure that the financial 51alements comply wlh the Charities Act 2011, the ChaTity IA¢counts and Reports} Regulations 2008 and the ptOViSiQns of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the p￿VentIOn and detection of fraud and other irregulaiities. Appr d by order of the m ber5 of the board of Trustees and signed on their behalf by: Pro assor H L hloore Trustee Date.. Page 14

THE SHM FOUNDATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Independent Examiner's Report to the Trustees of The SHM Foundation ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2022.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's 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 I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Fiona Hawkins

Dated: 19/06/2023 FCA

James Cowper Kreston Audit Chartered Accountants 2 Communications Road Greenham Business Park Newbury Berkshire RG19 6AB

Page 15

THE SHM FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

Note
Income from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restricted
funds
2022
£
290,931
290,931
318,144
318,144
(27,213)
334,779
307,566		 Unrestricted
funds
2022
£
447,809
447,809
420,387
420,387
27,422
501,106
528,528		 Total
funds
2022
£
738,740
738,740
738,531
738,531
209
835,885
836,094		 Total
funds
2021
£
741,295
741,295
578,240
578,240
163,055
672,830
835,885

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 19 to 31 form part of these financial statements.

Page 16

THE SHM FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 Note Cwrent ass&ts Debtors Cash at bank and in hand 10 29,907 828,562 116.611 730.905 858,469 847,516 Creditors.. amounts falling due wthin one year 122,375) 111,631) Net current assets 836.094 835,885 Total assets Igss current Ilabllltles 836,094 835,885 Total nèt a$$ets 836,094 835,885 Charlty funds Restfided funds Unrestricted ftjnds 12 12 307,566 528,528 334,779 501.106 Total fund$ 836,094 835,885 The fi naal statements were approved and authorised for issue by the TTU5tees and signed on their behaw by: L_/. Professor H L Moore Trustee Dale.. 1%. oE,>3 The notes on pages 19 to 31 fomi part of these financial statements. Page 17

THE SHM FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Note
Cash flows from operating activities
Net cash used in operating activities
15
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
16
The notes on pages 19 to 31 form part of these financial statements		 2022
£
97,657
97,657
730,905
828,562		 2021
£
50,593
50,593
680,312
730,905

Page 18

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The SHM Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources eg allocating property costs by floor areas or per capita, staff costs by the time spent and other costs by their usage.

Donated staff costs have been allocated based on the number of hours worked on each activity based on an average hourly rate.

Donated facilities costs have been allocated based on a propoartion of office expenses determined by floor space used.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 19

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. Accounting policies (continued)

1.4 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.5 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.6 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.8 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

1.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no accounting estimates which are considered material.

Page 20

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

3. Income from donations and legacies

Donations
Donations from SHM Productions Limited
Expenses paid on behalf of the charity
Donated staff and faciltiies
Total donations
Grants
Total 2022
Total 2021		 Restricted
funds
2022
£
-
-
-
-
290,931
290,931
414,548		 Unrestricted
funds
2022
£
278,900
1,513
167,396
447,809
-
447,809
326,747		 Total
funds
2022
£
278,900
1,513
167,396
447,809
290,931
738,740
741,295		 Total
funds
2021
£
260,000
1,813
164,934
426,747
314,548
741,295

4. Analysis of grants

Health
Arts
Learning and citizenship
Other
Total 2021		 Grants to
Institutions
2022
£
107,275
10,000
18,501
5,000
140,776
73,833		 Total
funds
2022
£
107,275
10,000
18,501
5,000
140,776
73,833		 Total
funds
2021
£
20,178
-
32,655
21,000
73,833

Page 21

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

The Charity has made the following material grants to projects during the year:

Name of project
Marakwet Education Project
Ember
Ember - Risk Pool Fund
Literature, Gender & Peace Project (Mexico)
Ember Transformation Fund
Ember 21-23
Mental Health & Wellbeing on Campus
Khalsa Aid
Humans in Danger		 2022
£
18,501
-
-
10,000
-
107,275
-
-
5,000
140,776		 2021
£
32,655
16,000
1,178
-
3,000
-
18,000
3,000
-
73,833

5. Analysis of expenditure on charitable activities

Summary by fund type

Health
Arts
Learning and citizenship
Other
Governance cost
Total 2021		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
284,643
338,851
10,000
7,197
18,501
67,885
5,000
427
-
6,027
318,144
420,387
246,898
331,342		 Total
2022
£
623,494
17,197
86,386
5,427
6,027
738,531
578,240		 Total
2021
£
502,697
5,625
41,911
21,333
6,674
578,240

Page 22

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

6. Analysis of expenditure by activities

Health
Arts
Learning and citizenship
Other
Governance cost
Total 2021		 Activities
undertaken
directly
2022
£
335,272
-
44,596
427
-
380,295
285,778		 Grant
funding of
activities
2022
£
107,275
10,000
18,501
5,000
-
140,776
73,833		 Support
costs
2022
£
180,947
7,197
23,289
-
6,027
217,460
218,629		 Total
funds
2022
£
623,494
17,197
86,386
5,427
6,027
738,531
578,240		 Total
funds
2021
£
502,697
5,625
41,911
21,333
6,674
578,240

Analysis of support costs

Staff costs
Workshop team expenses
Governance		 Total
funds
2022
£
23,391
188,042
6,027
217,460		 Total
funds
2021
£
34,247
177,708
6,674
218,629

7. Independent examiner's remuneration

2022 2021
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 2,100 2,000
Fees payable to the Charity's independent examiner in respect of:
Accountancy services 4,140 3,940

Page 23

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

8. Staff costs

2022
£
Wages and salaries
85,853
Social security costs
8,747
Pension
3,935
98,535
The average number of persons employed by the Charity during the year was as follows:
2022
No.
Employees
3		 2021
£
55,760
9,960
2,801
68,521
2021
No.
3

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).

During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL).

10. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
-
80
29,827
29,907		 2021
£
3,469
155
112,987
116,611

Page 24

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

11. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2022
£
14,182
1,125
1,868
5,200
22,375		 2021
£
2,933
1,005
1,693
6,000
11,631

Page 25

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Ember
Khuluma
Zvandiri
Goalkeepers
Zvatinoda
AT2030
Project Noor
The Young Mother's Lounge
Music
Yathu Yathu
Me Later Leer
Total of funds		 Balance at 1
September
2021
£
501,106
110,133
45,536
604
67
-
4,400
86,726
79,286
7,500
-
527
334,779
835,885		 Income
£
447,809
221,390
-
-
-
60
19,280
-
23,461
2,500
24,240
-
290,931
738,740		 Expenditure
£
(420,387)
(147,063)
(13,372)
-
-
(60)
(4,496)
(39,683)
(79,230)
(10,000)
(24,240)
-
(318,144)
(738,531)		 Balance at
31 August
2022
£
528,528
184,460
32,164
604
67
-
19,184
47,043
23,517
-
-
527
307,566
836,094

Page 26

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Statement of funds (continued)

Restricted funds

Ember

Ember is a mental health initiative of the SHM Foundation which finds, mentors and funds excellent, community-based mental health initiatives in low-resource settings so that they can grow and thrive.

Khuluma

Khuluma Productions is a continuation of our long-standing program, Khuluma, which we have been running in South Africa since 2013. The project aims to support long standing Khuluma mentors with their mental health & wellbeing, and enhance their employability skills.

Zvandiri

Zvandiri is a community-based organisation in Zimbabwe that seeks to ensure adolescents living with HIV have the knowledge, skills and confidence to live healthy, safe and fulfilled lives. Through Zvandiri, adolescents living with HIV are trained and mentored to provide prevention, treatment, care and support services to their peers.

Zvatinoda

A research project being conducted by the LSHTM and OPHID in Zimbabwe. It aims to use participatory methods in order to design a peer-led intervention that improves provision and uptake of Sexual and Reproductive Health (SRH) services in one region of Zimbabwe where uptake and quality of health services for young people is often poor, leading to preventable morbidity and mortality across the lifecourse.

AT2030

A large-scale research and innovation programme involving 9 million people that aims to improve access to lifechanging Assistive Technologies (AT) such as wheelchairs, hearing aids, glasses and digital assistance (including smart phones and accessible software).

Project Noor

The aim of the project is to work with a demographic group that is particularly disadvantaged when it comes to securing a decent livelihood: older refugee women of Middle Eastern heritage. The purpose of this project is to support these women into employment or selfemployment by the end of the project through working with them to codesign solutions to the barriers they face in getting there.

The Young Mother's Lounge

The project aims to scale up an integrated virtual support system for pregnant and breastfeeding mothers living with HIV to improve health & wellbeing.

Music

We have worked on a project with the Royal Academy of Music, an institution that nurtures talent, scholarship and performance at the highest level of classical music. Programmes dedicated to community outreach, and to widening access to and participation in the Academy’s activities, are core to their mission.

Yathu Yathu

The project is part of a larger collaborative study, funded jointly by the MRC and DIFD, aimed at addressing the needs of adolescents living with HIV in Lusaka, Zambia. The SHM Foundation provides peer-to-peer support group intervention component for adolescents and young pregnant women aged 1524 years living with HIV.

Page 27

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
Ember
Khuluma
Zvandiri
Goalkeepers
Zvatinoda
AT2030
Project Noor
The Young Mother's Lounge
Music
Yathu Yathu
Me Later Leer
Total of funds		 Balance at
1 September
2020
£
505,928
91,978
62,879
16,219
67
-
-
-
-
-
(4,241)
-
166,902
672,830		 Income
£
326,747
147,960
-
-
-
11,500
16,400
100,000
100,000
7,500
31,188
-
414,548
741,295		 Expenditure
£
(331,342)
(129,805)
(17,343)
(15,615)
-
(11,200)
(12,000)
(13,274)
(20,714)
-
(26,947)
-
(246,898)
(578,240)		 Transfers
in/out
£
(227)
-
-
-
-
(300)
-
-
-
-
-
527
227
-		 Balance at
31 August
2021
£
501,106
110,133
45,536
604
67
-
4,400
86,726
79,286
7,500
-
527
334,779
835,885

13. Summary of funds Summary of funds - current year


General funds
Restricted funds		 Balance at 1
September
2021
£
501,106
334,779
835,885		 Income
£
447,809
290,931
738,740		 Expenditure
£
(420,387)
(318,144)
(738,531)		 Balance at
31 August
2022
£
528,528
307,566
836,094

Page 28

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

13. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds		 Balance at
1 September
2020
£
505,928
166,902
672,830		 Income
£
326,747
414,548
741,295		 Expenditure
£
(331,342)
(246,898)
(578,240)		 Transfers
in/out
£
(227)
227
-		 Balance at
31 August
2021
£
501,106
334,779
835,885

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Current assets
Creditors due within one year
Total		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
307,566
550,903
-
(22,375)
307,566
528,528		 Total
funds
2022
£
858,469
(22,375)
836,094

Analysis of net assets between funds - prior year

Current assets
Creditors due within one year
Total		 As restated
Restricted
funds
2021
£
334,779
-
334,779		 As restated
Unrestricted
funds
2021
£
512,737
(11,631)
501,106		 Total
funds
2021
£
847,516
(11,631)
835,885

Page 29

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

15. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
16.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
17.
Analysis of changes in net debt
At 1
September
2021
£
Cash at bank and in hand
730,905
730,905		 2022
2021
£
£
209
163,055
-
166
86,704
(109,785)
10,744
(2,843)
97,657
50,593
2022
2021
£
£
828,562
730,905
828,562
730,905
Cash flows
At 31
August 2022
£
£
97,657
828,562
97,657
828,562

Page 30

THE SHM FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

18. Related party transactions

During the year the charity entered into the following transactions with SHM Productions Limited:

Donations made to SHM Foundation
Donated use of premises
Donated use of staff
Expenses paid on behalf of the charity		 2022
£
278,900
22,080
145,316
1,513
447,809		 2021
£
260,000
23,328
141,606
1,813
426,747

At the year end, a balance of £nil (2021: £100,000) was due from SHM Productions Limited.

The following Trustees of SHM Foundation are also directors and shareholders of SHM Productions Limited: Professor M Biriotti and Professor H L Moore.

Page 31