Charty number.. 1126568 THE SHM FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 THE SHM FOUNDATION CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report 2-22 Independent examiner's report 23 statement of financial activities 24 Balance sheet 25 Statement of cash flows 26 Notes to the financial statement$ 27-40 THE SHM FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Trustees Professor M Biriotti Professor H L Moore Professor S Fidler Charity registered number 1126568 Principal office 20-22 Bedford Row London United Kingdom WC1 R 4EB Accountants James Cowper Kreston Chartered Accounlanls 2 Communications Road Greenham Business Park Newbury Berkshire RG196AB Bankers Lloyds TSB PO Box 72 Bailey Drive Gillingham Business Park Kent ME8 OSL Charity Aid Foundation 25 Kings Hill AvenLJe Kings Hill Wesl Malling Kent ME194TA Page 1 The SNM Iollndation Annual Report Se•temJer 2022 - August 2023 the SHM foundation About Us I wjuld like to 5aya huge thank you toall the rrleM￿rS0fthe tpamwho hAknp rphllyworkgd.40 hard lo WSiLiwdifFÈrÈncÈ In p￿￿1&.5 I1￿ and their communities￿r￿S5tIie globe Lastly are foievergrateful to our louideri PYole550rhlourke iotti08E 4nil ProKÈssor Thè $HM Foundat10￿ is a FonA¢id-lo¢ki and Y4Ellbein9. educationarbd liveli￿0[15 and acce55 continL4od suopJrt and gonorosity ProfvS$orS￿T￿hfft1le￿wh0 ha5 C￿1 mis¥ivn i5tQ 5UpPDrtFeop￿￿￿d cvmmunith¥in devebpitlySp1yt￿hSt￿thEChallEr￿JeSthEyts[E.l t￿eV￿Y$thatW0Ykfts￿the￿ A5hlei9h 8eukes DEsMondCl￿Uke It ha5 been anothergieatyear ror u5 at The 5HM Foijndation. ÈotyirttsMisuÈl.Esptsndo Anna Kydd We 5VPWrt pwJpIE.r￿lniUTrl1l￿4￿r￿ or9?Th158tiQn5to Impr￿1￿ thèir hèalth￿nd￿ll￿￿ln￿.galn T)ÈW skills. kncmlodgeandempluyment opportunities and ol￿t￿r ofT?eSHM Foundation what isgoiThJ on In t￿WOrld and toour partnet5' rEed& JurnLlJ)clsoy JOSIN￿OI1n& Jun•LuYrJoto LUmoS¢rn￿WI Mal•hoNgob0ni Vlodosign and ImplemontourLwin iThitiativc&coThduct We Fiinily In the ripple o￿a￿ls￿lI0￿5 and Droiect5 45 a small Foundation and S￿l&tIeS when pooplo feel yJppJTted forand p8ble toexerCi￿ 3genc￿5 In iheifoym lives iththÈ U￿.V￿ havèoFfiÈÈs ith Londuth and Prètoria. SouLh Afvica. ar￿1￿￿￿k￿lth paitThorsif 14ctiuntrl•& Oliv￿C￿ti¢rreZ ¢rmv¢rAlkateb Rtnisinh Xeleboyilefrfotlop 5tsmoBti&ilKtsmoJ havè￿￿ incrédlble tcomosofwwJrk bytaking thi5 55n¢*20O8.weTrwer¢a¢￿d 25(k.QQO+pwplelhlg cOuntr￿sthrOUgh75 prd•cts. WE work In Artr% Mentr31 Hwlth WellbEin9 Eduration LI￿lIhOodS bve èni reading this report and getting to knowfflore atout ourworkand The tybjeris¢fthe SHM F¢und4llon ¥r*ttsvhd*rt￿ke ftyr public ￿￿&fIl￿nYpurFy￿S￿ t￿￿t IsCharitab￿ according to the1&￿￿Of EnglaThJ 3nd Walesasthetrustee5shall. In theiT abgJluted15cretioD d￿l￿e ourv￿r￿ i5al guidgd Wour eth￿ of trokin9an emp6thetic, hurrw YasJ>)InèUddln cnLlouramrrzlrst•umol Khulumm•ntorsinSauth AfricLr. Th15F3rwe fDmmitted £286.41YA5 tofiJrtd our NO￿ oFourworkvdyuI& be p￿sIble without the iThcredibl toam thJtwJrks Jt tho Jtjndotion-we are a tDJlyglobBI tEani with dI￿r3e b￿kgrOUrk￿5 c￿rIS lawuaoèsl Ourvalues At the SHM Foundation, we strongly bèllève that to work well as a team and to produce high quality work. we mu$t uphold shared values. However. our values are not Just Insplratlon. We put them Into practlee every day. ss W•C￿￿bor￿t•¥A*hCQMrn￿￿lt1• toc. IE unwayprih9 W* luQ and firsL- W•F￿￿•￿n￿￿apprLWEkn. W•putcr•thltyitth•cor•or ourwork. Wosoe the pcwer that creativity h85 In engaging people wth the Our foremostfocus Isto look aFterone another and the Feople eworkwith Wededic3te time r*￿urt*4 to EuPPOrtln9 th wèl1￿ing ofour Lèam. partnèrs and ludwshlp. As a toam ipread rytyersi¥countrie W￿Veal￿aYs kno)wn th8tyou don't n*.p.d to b>. ith thg. rotsrrt Lo cioaLè mÈaningful human (onnoction Tho SHM Foundation hèncèwè belie￿ thaLadaptability. reswnsiwnos55nd kiThJnos5 bro veryimportantvBlue5 We are alwa￿ learning InnrNating nd Bd?ptin9 ￿ Ihat ourwoik and d￿Li9￿alls1ng mènlal ￿alth not an add-on partners and p3rticl￿nt5 and we that el*e(tlbE aDd ustainablÈ tan tthlyb¢ dèsi9Thod togothorwith thèm al-.h of IDrhJvation In the seytor Weutilizeort 3nd design to Fèrilitite 5elF-pxpre55ion. f05tsr ¢oththÈttion& and LiÈai porspoctiwswith the re5￿Cl theydeserve FovndatlQn55t￿t￿YaD￿ develop5 Its pru9fam* WÈ fnaithtaih a tltyse. kniLopèn and cooporative wjik and 50 that ￿￿Can act fast oursuppJTt 15 most Annual Report 2024 Our Year At a glance W•b•llev•flmilylnth• rfpp1••ff•¢tsth￿ar•fo1t0Th ¢ommunltSes.oryanSsatlons.sttSrtlKwh•n pooplo ￿trI support@d. car@d far3nd capabl@to ex@rel8•ag•n¢les In thelvown Ilv•s. Seeing ripple effeekE We have wltnessed thls rlpple effectln a¢tlon actoss our prolèets thl#y*4r. Thè power tsf glvlng atee$s to social Support systems and wellbelng packages. Llvèllhoods and enabling stigrnatlsed populatlon$ to Imaglne new futures. Igmltlno new eonnectlons and conversation Our projects span across three dlfferent areas,. Mental Heallh and WÈllb*ing. Educatlon and Llvellhoods. L4rid Ihe Arts. MENTAL HEALTH &WELLBEING Ripple effects examples Our Year At a glance MENTAL HEALTH &WELLBEING aling heard, Citn hAve a ripple ¢ffe&o young people litjirg wilsi tlw. Programme ATAI Khuluma atthe￿r￿￿v￿l1h4￿￿ South Afric Khuluma 15a programrrE that aim5to empJweiyoung thèm with psYchO￿tIal athd wellbelng guPPOrt artd ImprNin9 accèsstoeducation and èmpltywnt opportunitios Thègoal of tho prryramme Is for tho Y￿n9 p￿DIer0 lead dignified li￿& by le3rning Inth?pDdGa thom thècor)fidèncèto chaso thèirdrèam Annual Report 20 Our Year At a glance MENTAL HEALTH &WELLBEING iniba*ve8 WeriÈnc< a of cybli it4, coh*edion andcrtre, gener&Fe & pow*"ueriFyle eftecFih4sie Propramme AcUvltle5 Programm• Actlvltles Proyrammè Actfjvltles Programme Artivltles I￿110r￿￿￿ Programme Activitiès ember Ember Mental Health Globol Emb&r prc)vides tailored 9upportcompc￿ed of b)th Annual Report 20 Our Year At a glance MENTAL HEALTH &WELLBEING ryoumg mo¥heYE li￿1￿ wi+h tllv, Ptogr4mm• Actlvltle5 Proyramm• Actfjvltles +he Yipple effecFotLxthvQli￿ Progrgrnrn• Actlvltles proyrammè Actlvltles In*D[f￿r PIo9vamm• Actlvfjtle5 Ixwllxlinwtp YIIM or￿￿￿￿￿h1￿molhE D5,*ÈrnthÈ•l￿ pWrbTr)Me￿￿5lwn9 4UkW Programmo Actlvltles YMM Project Zimbabwe VlhÈth)Wung moihÈiS a9Èd 16 25 livin9 wIEh HIV. residing In somèof remotest parts of the thtr)rld are cOnn￿ted toa safevirtual Space fort￿ ff115t time. It helD5 theni unbuiden themSe￿e5 by5haiiDg their mOn9WungpWotsJlldi Annual Report 20 EDUCATION & LIVELIHOODS Ripple effects examples Our Year At a glance Education & Livelihoods Feeling sUPPOrted enables people to pursue thelr dreams We rwni8e4he 4xnd complexrty otpeople's liue% ith 4odAy'¥ E. When p8ople ye￿1¥t+￿t￿lI0f￿￿ Ffth+he4 FkqvipstheM+o mOXirni%e+heif pthekth41 &zndFvtsue +heir drearns. Marakwet Project Project Noor UK Keny Programme A¢tlTrAtle$ Programme Actlv6tles IdErfrfIDJ SÉnumb?' YJFWtd?I￿￿￿dtlll4 e¥￿)￿5￿￿[￿e th￿a￿lEt0 Annual Report 20 11 ARTS Ripple effects examples Our Year At a glance Arts Communities feeling ownership through partlclpatory approaches has a ripple effect. A+4sie Stlm fryffidA4ioh we envi%ion WO￿a￿￿ere e¥eY4body hAVe ROYAL ACADEMY OF MUSIC Andopportunitriés. Af+ha%4he POW8f Roya.1 Academyof Spltalflelds Muslc LIK UK Programme Programmg a￿a[￿'r&fr￿￿ rticiWtcry'￿N￿￿￿p IhWctthLttplL4￿￿￿ y￿[h Annual Report 20 13 Our Future Plans Wewanttoremaln relevant and re$ponslvetowhat Is yolng In the world and to our partners, needs. WÈ aro rgviwling tho foundation s overall strategy io ensure that It reAect5 Ihe foundation 5vision and migsion atrO5S all thTeÈ arÈa5 of Our Yffjrk which Is Heallh-. EdLJcation & Eniployment: and thè Arts Wo want to bè better able to articulate thè imwrtance ol ihe5e three 8reas and the overlap betW￿rn th@m acro55 our global programmes bve ok fopward to expanding our OPÈrations In Sub Saharan Afrlc and 10 be able to better serve our bonoficiaries In tho rogion regisLering ihe SHM Foundation as an olficial entity In Kewa. W•￿11 eontlnu•wotltlny towards addressing global mental health ehallenges nd meeting global mental health needs We will continue 5UPPOrting ommunity-wsed organi5ations In the Global South and growing a healthy global mental health ec05>Stem ofcare Ih3t gro￿ frorn thin the communities thai we 5UPPQrt We are conirpiitted ro looking for Iike-minded co-lunders and parrners that will help vs grow Ihe Ember Fund to support and Invest Innovative menial health Initiative5 In low-re50urce 5etrings so thal around the bwild millions more people can acTr5S the care th￿ need. where they3re, in wzys that work foi them. W•wlll ¢ontlnu• supporting moreyounw people byen•bling •¢¢ess to hlgh-qualltyedu¢atlon #nd ¢oll•bopating with privatesector to creaie eaningful employment W•waThtto k••p eollaborating with more Ilke-minded funders to SLJpport niore organi%ation% working In the Global South 3s we believe that the group of prople With a Similar vision can achieve much more than when one v￿rkS lone. We will keep working very closely with our amazin9 board to make the 5HM Foundatinn even sironger and more Impactful than It 15 ioday gTOWth. and pro%pErity loi the people thai we serve and lor our team We will keep 5VPWrting 4rr proJect* not only In the UK bui globally. asvE beli&E ihat the arts the to transfform peoples lives for the belter no iterwhat challenge5 rhey may fate Or where In the Woild they are Annual Report 14 Our Projects At a glance MENTAL HEALTH &WELLBEING our prDjeekE span zcroEE +hfee dittefen+ rertE: Thezumbido He3lth model 115e5 rMbile phone5 tocre3te populalions ThèsèsuPWI'. 9fouPS ènablÈd byour di9ltal platform.whoro wrticiwntsdiscuss- to at awt-mevia text me55age- a rangeof 155ue5 pe￿tIrnent to their condition oi need5 We haiE di￿r51￿1&y the Zumkndo 4hd4 for Isolatod wpulationsand run the foll(Ming picorammcsthisyoar ?￿jeC1phOt￿lX £. and+he Khulumu Pmductions South Afric The Young Motherfs Lounge Zimbobwe Ember Mental Health fjlobcy Integratsy virtu31 ￿ten7 the land5c3pe of 9lotsl rneDtal hE¥lih Vts bElIEve addrp551n9 Ihe pro9r¥rn vthirhw havè bÈen IUp)rilW In South Africa Since 201. proiéct&irr)Sto supwrt long Standing Khuluma ent0￿ ￿￿1kn-.hel. niental he8lth 8 w•.IIWino. and thp.lr rr)oLhÈrg Ilvinywilh HIV lo Impr alth &w@Ilb&in9 It 18yers on MTrther WMMI Drogrorn th6t troin5 tYtsl*%t•nt ￿￿)th￿r*to 4upprirt Iheir poèrsthrylh adhèrÈThcÈ and Sexual Reprcductive ealthservice5 QUT15hing 8 diver5eec05y5teni tommuniliÈs Tr)rouoh Ihè EmbÈr Fund.￿￿ 5UPPOrtand lil￿st In I￿allY-led mental health Khuluma montors prÉwiously ￿￿en parfofthe Khuluma group5 who d￿lded tQ5tayon 8nd tr8iD to tameSuPWitéiS Forathèryouthg fhol4Z composed ofboth montorship and funding. 50that grcwi and thiwe 15 Our Projects At a glance Education & Livelihoods Marakwet Project Edueation Project Noor Keny UK Project Nwi 5UPPQrt5 iefu9ep initi4tibEvfthp SHM Foyndltio Thèaim IS ItsSuPWrl girls and b ducation We aresupporti 5tudent5whowould not be ableto rewTrTdiDg emplwment bY￿l￿rkIng wih iheni to m-de519 gupporl frfim WÈ arÈ Immensely pioud of theira£hiwemonts which go as faras completing a PhD d￿ree For50me of the5tudent& c44ion prbjeeF 16 Our Projects At a glance Arts ROYAL ACADEMY OF MUSIC The Royal Academy of Musk Tho SZThpl of rnvwc open and p3rLicipatoiy meth￿￿OI0g1ts we worked with the Academy to thiSw￿￿k dovèlopod participatoryiesearch proce55 that 5tudenfs Invol￿￿ In thE5e piryranime5wIII vse toev?luite Spitsifields Music Th15yearwe havefuDded a project ¢haiityin E￿5￿ Lnrhdpn s tosupport tho %￿￿11￿È1nO of primaryand secondary school St￿entS thTough niusic 17 Our Board of Our Partners kèop appr￿1￿ling our loThJ(-stJnding 5UPPOrters theVIt01 Foundalbn. who hwe beeD irnwrtant iole He￿1th¢￿TEa￿d rhp￿t01 FoUnd￿tIon We are very grateful to our Co-founders and Co-chairs, Pvof•ssor D&m• H•nrl•tta Moor• and Prof•ssor Maurlc• Blrlottl. and ourTrustee Prolessor Sarah Fldler. lor their guidance. motivation and 5UPPgrt A special mention rhi5 year beltsnus io Our inspiiinq fLJiuie directors. Rose Walthaka. Amlsa Rashld and Rosebella Iseme. based In Kenya. tharwill offic1311y be apwinted a5 the directo￿ at the SHM Foundation Africa entiiy once the entiiy has been officially established ThE Mlix BARAEY rLnèrs lii zimbab￿ Zvandlrl. and K4lifong Hospli•l In Prcioria. s￿th Afric Ilh¢4r• bettèr￿ndQd MÈThtal HÈalth hwe enJo>Ed rontinuing our Wewould a150 like-.othènkour 5upporfer& KokoroChan9e Schoonei FOund￿tI0b Plniete51 Bre very PrOyramm*swiLh 8artlètt O•Y•loprn•ntPlannlng UnltlDPUl•t Unlv•r51lyColl•ge London IUCU. Structure* 9ovorn•nce •hd rn¥n¥gom*nt The Foundation 15 3dmin15trated as a chèrity by the Trv%tees Professor Henrieita Moore Profe550r Maurice Biriotti and Profo5sor Sorah Fidler In rerm5 Of gwernance o ? day to day basis there Is a Director olThe SHM Ftsund£tion and a Head of DevelopmeDt who 15 In charge Of ma aging and running Ihe Found3tiOn5 proietts Tru£tee5 meet ai least quarterly. no business can be conducted ai meetings unle55 f4VO Trustees are present. usso that 4YQ can transfoim thè A5I1wBy% i VerY5p￿1?1 thank5 goe5to SHM pr￿￿¢￿¢￿$ Llmlted m¥in been very happy to collathr3te with the w+llbpiM9 Prolptt >mphA%lsg thè ImpoiLantèolsuPWiiirtg Supwiieis and without whomourworkwould not po551ble Thankyou, In addition ￿ are voryexcited to montion th3two sotup a cost- uctiblegifts From sUPWlters ID the The Financial statements liave been prepared In accordance with the accovnting policies set out In note I to the financial statements and comply with theCharity'5governing document (Trust Deed dated 15 October20081 the Chariiies Aci 2011 and'Accounting and Rewrting by Charities Slatemenr of ectsmmended Practice applicable to thariiies PTÈParin9 their account5 In accordance with the Financial Reporting Standard applicable in the UK and kepublic of Ireland (FPS 1021- the KlrwJ Buudouin Found4tkn We habECODtinued 5upporling ielugee frofrl the Max BarThQy￿ndatI0n bvè havo continuod Lo ￿al￿and roplicate ZUM￿￿0 H•atth m￿Je1 InSouthern fri￿ thank5 tooui co-funder5 Vllv ApRIC￿DI MH Reciultment of Trustees and tralnlrbg The comp051tion ol the Charitys Board of Trustees is reviewed regularlywith a View to achieving a spread o'eKpert15e and age. designed to facilitate the aChI￿ement ol the Charitrfs objectives. TheTrusree5 keep up to date on their re5F￿nSibIlItieS by ￿rioUs means. guch as ra(I*Ving the Chariiy Comn)Ission wetsite, reading relevant wriodicals and professional adwce. 18 Our policies Golng concern Pollcyon reserves Pollcyongrant maklng Addltlonalgovernance i$$y¢$ The Trustees are director5 and *hareholder*of SHM Productions Limited During the last year. tho Charitys princi￿1 sourc05 of funds donations receiwj from SHM Productions Limited and from Incorne generated frorn the Investrnent ol capiial as well as donations niade by other chaiitable thdies to d￿￿10 collaborative project5 Wlth the Foundation The Foundation alwasry b￿rkS collaboratively with parrner organisations that Share It5 charitable goa15 and obiectiiES to ensure good governance and sound financial nianagement Truste ¢on$lderatlonof major rlsksand th• syst•ms and procedufv5to manage them. Th@ TtU5t@es consid@r on a régular After making appropriate enquiries. the Tru5tee5 reasonable expeciation that the Ch?rity has adequate Tesources to conlinue In operaiional existence lor ihe foreseeable lytvre For this reason, Continue to adopt the going concern basis In preparing the financial statem@nt5 There Is £256,491.25 In the Savings ctount The Tru5tee5 have decided to maintain free reserves The SHM Foundaiion's grant making ha5COntinued to focus thissEar on grants that support Savings atcount at a l*EI which eqLJates to approximatelylO.12 Citizenship and the aris Pioposals are iDyited by rheTrustee5 or The SHM Foundation along with any ri5k5 there rpiight be to Spe￿illC expenditure The trusiees consider that this level will provide 5LJfficient fundi for the runnin9 of the Foun(Jation assuming no other funds are received Foundation works directly Wllh the beneficiaries of each of Its project5 Unsolltiied requests for funding are not encouraged. running The Trustees are confident thai there aTe adequate systems and procedures In place for r￿1￿11￿9 r15ks and will continu@ to keep ihese processes under review. adoption of the going concern basis can bo found In the accountino policies Annual Report 19 Our financials Th• SHM Foundatlon grantswere madetoth• follov4ing projects: 4grant of£27,966.04 wa5 made iOW3ids the Marakwet Ed￿tatIOn Proiecr. ProJ•et Emb•r. Donatlon Aioint fvnding model betsveen the Sthooner Found3lion. pinte￿$t. Vitol Foundation SHM Production5 Limited and the SHM Foundation allowj us 10 give out grants to the Ember parrners Mental Health &Wellbeing on Campus. KPSI. The Taèl Foundation. ACUFA Burans and Positive Konn@ctions- R@newzl. We recelved 4 lolal Of £909.927 in donatlons and giants. We received a grant from Vitol Foundation for the Ember Project WÈ ieteived donallOn* of £616.463 from SHM Production5 Limire We received 3 grant from PinterÈSI for the Ember Project . Agrant of£2.000.00 was made to Other Peoplos Films We received a grant from Viiv Healthcare forThe Young Mothels Lounge Project We re￿iVed a grant from Kokoro Change for the Eniber Project. . Agront of£l,000.00 wa5 made to Behind the Door A total of£118,360.09 wa5 made to Mental Health Service U5er5 Association. Hope Pesioration & We received a grant from The Royal Atademy ol.klu%lC WÈ ieceived a grant from the Schooner Foundation lor the Ember Project Health PeEI Network. Girls for Girls. Church ol Uganda Kisiizi Hospital. Annual Report 20 Statement of Trustees, re.oDonsibilities The Tru5toe5 are responsible for preparing the Tru5tQQs r@port and the financial statements in accordance With applicable Iwiand United Kingdom Accouniing Standards (United Kingdom GenerallyAccepted Accounting Practice) The law appliC3ble to charities In Enoland &Waleg requires the Trustees to prepare Financial 5tarements for each financial which give a irue and lairview ol the srate of affair5 01 the Charity and of its Incoming resources and application of resources. Including its Inconie and expenditure. for that period In prewrino these financhal statements. the Trustee5 ale required to. 5elecL 5Ultable accounting policies and then apply theni CDn515tently', observe the niethod5 and principle5 01 the Charitie5 SORP IFR5 1021. mèke judgÈmÈnt% and 3tCOuniing estimates that are rÈasonablÈ and prudent.. . 5tarewhether applicable UK l*counting srandards IFRS 1021 been fo1lry￿d, Subiett to any material dÈpartures di￿10￿ed and explained In the finèntial itatements.. prepare the financial 5tarements on rhe going concern ba515 unle5S It 15 Inappropriate ro TÈSume that Ihe Charity will continue in busines The Tru5tÈeS are rÈspon51ble For keeping ade¢u3te 3ttOuntlng retord% that a￿ Suffitient to show and explain the Charity's transactions anLI disclose wirh reasonable accuracy at any time tho financial posltion ol the Charity and onable them to ensure that the financial statements ctsmply With the CTrTrailties Act 2011. Ihe Charity LQccounts and Report51 Regulations 2008 and the prryq15ion5 of the Trust deed They are 3150 responsible for ￿feguardIng the assets of the Charity and hence for taking reasonable step5for the pre4Ention and detection of fraud and other Irregularities ppr￿￿ byorder of the rnembers ol the board of Trustees and 5igDed on Lheir behalf by Professor H L Moore Annual Report 21 the SHM foundation Contact detalls.. hml Annual Report £023 22 THE SHM FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023 Independent Examinerfs Report to the Trustees of The SHM Foundation I'the Charity'l I report to the eharity Trustees on my ex8mination of the accounts of the Charity for the year ended 31 August 2023. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the aceounls in accordance with the requirements of the Charities Act 2011 I'the 2011 ACVI. I report in respect of my examination of the Charity's 8ecountS 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 14515llbl of the 2011 ACL 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. l Confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales, whieh is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect". aecounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act," or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fail view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers 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 stale to the Charity's Trustees those matters l am required lo stale to them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not acTrpl or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated. 2510612024 Fiona Hawkins FCA James Cowper Kreslon Chartered Accountants 2 Communications Road Greenham Business Park NewburyBerkshire RG19 6AB Page 23 THE SHM FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Totsl funds 2022 Note Income from: Donations and legacies Investments 373,464 616.463 1,378 989.927 1,378 738,740 Total income 373.464 617.841 991.305 738,740 Expenditure on: Charitsble activities 334,747 511,829 846,576 738,531 Total expenditure 334.747 511.829 846.576 738,531 Net movement in funds 38,717 106,012 144,729 209 Reconclllatlon of funds.. Total funds brought forward 307,566 528,528 836,094 835,885 Total funds carried forward 346,283 634.540 980,823 836,094 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 27 to 40 form part of these financial statements. Page 24 THE SHM FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Note Current assets Debtors Cash al bank and in hand 11 27,362 989,658 29,907 828,562 1.017,020 858,469 Creditors.. amounts falling due within one year 12 {36,1971 122,3751 Net current assets 980,823 836,094 Total assets less current liabilities 980.823 836,094 Total net assets 980.823 836,094 Charity funds Reslricled funds Unrestricted funds 13 13 346.283 634.540 307,566 528,528 Totsl funds 980.823 836,094 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Professor H L Moore Trustee Dale.. 25106.2024 The notes on pages 27 to 40 form part of these financial statements. Page 25 THE SHM FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Note Cash flows from oporating activitigs Nel cash used in operating activities 16 161,095 97,657 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 161,095 97,657 828.562 730,905 Cash and cash equlvalents at the end ofthe year 17 989,657 828,562 The notes on pages 27 to 40 form part of these financial ststements Page 26 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Aecounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fai¢ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi￿ effective from 1 April 2005 which has Sin￿ been withdrawn. 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 othetwise staled in the relevant accounting policy. 1.2 Income All income is recognised once the Charity has entillemenl lo the income, il 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 re￿iVed for specific purposes but not expended during the period is shown in the relevant funds on the Balan￿ Sheet. Where income is received in advan￿ of entillemenl of receipt, ils 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 lo 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 paty, 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 aclivily. 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 attributsble lo a single activity are allocated directly to that aclivily. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned be￿een those activities on a basis consistent with the use of resour￿$ eg allocating property costs by floor areas or per capila, 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 hourfy rate. Donated facilities costs have been allocated based on a propoartion of Offi￿ 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. Page 27 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Itontinuedl 1.3 Expenditure {continued) Gmnts 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 8 eommitmenl, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 1.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity", this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.5 Debtors Tode and other debtors are reeognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with 8 short m8turity of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.7 Liabilities Liabilities are recognised when there is an obligation al the Balance sheet dale 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 lo settle the debt or the amount it has re￿iVed as advanced payments for the goods or services it musl provide. 1.8 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 reeognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.9 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. Page 28 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Itontinuedl 1.10 Fund accounting General funds are unreslrieled funds which are available for use at the discretion of the Trustees in furtherance of the general objeelives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordanee 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 lo the financial statements. Investment ineome, gains and losses are allocated to the appropriate fund. Critical accounting estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations tsf future events that are believed to be reasonable under the circumstances. Critical aecounting estimates and 8ssumptions'. The Charity makes estimates and assumptions conceming the future. The resulting aceounling estimates and assumptions will, by definition, seldom equal the related actual results. There are no accounting estimates which are considered material. Income from donations and legacies Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Totsl funds 2022 Donations Donations from SHM Productions Limited Expenses paid on behalf of the charity Donated staff and facilliies 477,500 8,918 130,045 477.500 8.918 130,045 278,900 1,513 167,396 Totsl donations 616,463 616.463 447,809 Grants 373,464 373.464 290,931 Total 2023 373,464 616,463 989.927 738,740 Totsl 2022 290,931 447,809 738,740 Page 29 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Investment ineome Unre$trieted funds 2023 Total funds 2023 Tot81 funds 2022 Interest re￿1vable 1,378 1,378 Anatysis of grants Grants to Institutions 2023 Total funds 2023 Totsl funds 2022 Health Arts Learning and citizenship Other 118,360 118,360 107,275 10,000 18,501 5,000 27,966 3,000 27,966 3,000 149,326 149,326 140,776 Totsl 2022 140,778 140,776 Page 30 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Anatysis of grants leontinuedl The Charity has m8de the following m8terial grants to projects during the year.. 2023 2022 Name of projoct Marakwet Education Project Humans in Danger Literature, Gender & Peace Project Imexicol Ember 21-23 Behind the Door Other People's Films 27,966 18,501 5,000 10,000 107,275 118.360 1,000 2,000 149,326 140,776 Anatysls of expendlture on charltable actlvltles Summary by fund type Restrlcted Unrestrlcted funds funds 2023 2023 Total 2023 Totsl 2022 Health 303,781 391,916 3,562 46,699 39,426 30,226 695,697 3,562 74.665 42,426 30,226 623,494 17,197 86,386 5,427 6,027 Arts Learning and citizenship Other Governance cost 27,966 3,000 334,747 511,829 846.576 738,531 Tot812022 318,144 420,387 738,531 Page 31 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Anatysis of expenditure by activities Aetivitie$ undertaken directly 2023 Grant funding of activities Support costs Total funds 2023 Total funds 2022 2023 2023 Health Arts Learning and citizenship Other Governance cost 396,008 3,562 40,591 39,426 118,360 181,329 695,697 3.562 74,665 42,426 30,226 623,494 17,197 86,386 5,427 6,027 27,966 3,000 6,108 30,226 479,587 149,326 217,663 846,576 738,531 Total 2022 380,295 140,776 217,460 738,531 Anatysls of support Costs Total funds 2023 Totsl funds 2022 Staff costs 16,974 170,463 30.226 23,391 188,042 6,027 Workshop team expenses Governance 217,663 217,460 Independent examiner's remuneration 2023 2022 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual aecounts Fees payable lo the Charity's independent examiner in respect of.. Accountancy setvices 2,205 2,100 4,347 4,140 Page 32 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Staff costs 2023 2022 Wages and salaries Social security costs Pension 82,554 7,858 3,142 85,853 8,747 3,935 93.554 98,535 The average number of persons employed by the Charity during the year was as follows". 2023 No. 2022 No. Employees No employee re￿iVed remuneration amounting to more than £60,000 in either year. 10. Trustees. remuneration and expenses During the year, no Trustees re￿iVed any remuneration or other benefils12022 - £NILI. During the year ended 31 August 2023, no Trustee expenses have been incurred12022 - £NILI. 11. Debtors 2023 2022 Due within one year Other debtors Prepayments and accrued income 80 27.282 80 29,827 27,362 29,907 Page 33 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 12. Creditors: Amounts falling due within one year 2023 2022 Trade creditors Amounts owed to related paty Other laxalion and social security other creditors 19,205 2,856 1,084 1.311 11,741 14,182 1,125 1,868 5,200 Accruals and deferred income 36,197 22,375 Page 34 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 13. Statement of funds Statement of funds - current year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Unrestricted funds General Funds - 811 funds 528,528 617,841 1511,8291 634,540 Restrictgd funds Ember Khuluma 184,460 32,164 604 67 19,184 47,043 23.517 281,925 1174,7931 {26,1991 291,592 5,965 604 67 18,984 10,293 6.813 11.438 527 Zvandiri Goalkeepers AT2030 Project Noor The Young Motherfs Lounge Music Yalhu Yathu {2001 {36,7501 {93,2431 13,5621 76.539 15.000 527 307,566 373,464 1334,7471 346,283 Total of funds 836.094 991.305 1846.5761 980.823 Page 35 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 13. Statement of funds leontinuedl Restricted funds Ember Ember is a ment81 health initiative of the SHM Foundation which finds, mentors and funds exeellent, community-based ment81 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 alms to support long standing Khulum8 mentors with their mental health & wellbeing, and enhance their employability skills. Zvandiri Zvandiri is 8 community-b8sed organisation in Zimbabwe that seeks lo 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. 11 aims to use participatory methods in order to design a peer-led intervention that improves provision and uptake of Sexual and Reproductive Health ISRHI setvices in one region of Zimbabwe where uptake and quality of health ServI￿S for young people is often poor, leading to preventable morbidity and mortality across the life- course. AT2030 A large-scale research and innovation programme involving g million people that aims to improve access lo lifechanging Assistive Technologies IATI such as wheelchairs, hearing aids, glasses and digital assistance (including smart phones and accessible software). Projeet Noor The aim of the project is lo work with a demographic group that is particulady disadv8nl8ged when it comes to securing a decent livelihood." older refugee women of Middle Eastem heritage. The purpose of this project is to support these women into employment or selfemploymenl 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 projeel aims to scale up an integrated virtual support system for pregnant and breasffeeding 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 al 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 p￿gnant women aged 15- 24 years living with HIV. Page 36 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 13. Statement of funds leontinuedl Statement of funds - prior year Balance al 1 September 2021 Balance at 31 August 2022 Income Expenditure Unrestricted funds General Funds 501,106 447,809 1420,3871 528,528 Rgstrictgd funds Ember Khuluma 110,133 45,536 604 67 221,390 1147,0631 113,3721 184,460 32,164 604 67 Zvandiri Goalkeepers Zvatinoda AT2030 60 19,280 1601 14,4961 139,6831 179,2301 110,0001 124,2401 4,400 86,726 79,286 7,500 19,184 47,043 23,517 Project Noor The Young Motherfs Lounge Music Yalhu Yathu Me Later Leer 23,461 2,500 24,240 527 527 334,779 290,931 1318,1441 307,566 Totsl offunds 835,885 738,740 1738,5311 836,094 14. Summary offunds Summary offunds- current year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure General funds Reslricled funds 528,528 307,566 617.841 373,464 1511,8291 1334,7471 634.540 346,283 836.094 991.305 1846.5761 980.823 Page 37 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 14. Summary of funds Itontinuedl Summary offunds- prior year Balance al 1 September 2021 Balance at 31 August 2022 Income Expenditure General funds Reslricled funds 501,106 334,779 447,809 290,931 1420,3871 1318,1441 528,528 307,566 835,885 738,740 1738,5311 836,094 15. Analysis of net assets between funds Analysis of net assets between funds - current year Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets Creditors due within one year 346,283 670,737 136,1971 1.017.020 136,1971 Total 346,283 634,540 980.823 Analysis of net assets between funds - prior year Restricted Unreslricled funds funds 2022 2022 Totsl funds 2022 Current assets 307,566 550,903 122,3751 858,469 122,3751 Creditors due within one year Totsl 307,566 528,528 836,094 Page 38 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 16. Reconeiliation of net movement in funds to net cash flow from operating activities 2023 2022 Nel income for the year las per Statement of Financial Acliviliesl 144.729 209 Adjustments for: Decrease in debtors Increase in creditors 86,704 10,744 13.822 Net cash provlded by operatlng actlvltles 161,095 97,657 17. Anatysis of cash and cash equivalents 2023 2022 Cash in hand 989,657 828,562 Total cash and cash equivalents 989,657 828,562 18. Analysis of changes in net debt At1 September At31 2022 Cash flows August 2023 Cash at bank and in hand 828,562 161,095 989,657 828.562 161.095 989.657 Page 39 THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 19. Related party transactions During the year the charity entered into the following transactions with SHM Productions Limited.. 2023 2022 Donations made to SHM Foundation Donated use of premises Donated use of staff Expenses paid on behalf of the charity 477,500 17,236 112.809 8,918 278,900 22,080 145,316 1,513 616,463 447,809 At the year end, a balan￿ of £2,85612022'. £nil I was due to SHM Productions Limited. The following Trustees of SHM Foundation are also directors and shareholders of SHM Productions Limited.. Professor M Biriotli and Professor H L Moore. Page 40