Charity number: 1126568 THE SHM FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE SHM FOUNDATION CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report 2-24 Independent examiner's report 25 ststement of financial activities 26 Balance sheet 27 ststement of cash flows 28 Notes to the financial statements 29-42
THE SHM FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustees Professor M Biriotti Professor H L Moore Professor S Fidler Charity registered number 1126568 Principal office 20-22 Bedford Row London United Kingdom WC1R4EB Accountants James Cowper Kreston 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 Page 1
TNe SAM loundation Annual Report September 2025 - August 2024 the SHM foundation
Ouryear About Us We have provided them with opportullities to explore career eotley, Juft7 Llndsuy, Joshuu Olln4 Jun•Loirltu, Lumu S•mawl. MuleboNgobonl, NotashoAdomako. Ollvlu Th• SHM Fout)d•tlon Is a loiw#rd-lotsking positive social change In the areas ol mental health nd welltieing, education and lilIhOOd$. 8¢ce to the arts Well1Ing siipport. work with InipTnational rese2rth ieams bnd io Slippori othcrs wilh shared lived experience using fh¢' Skills IhLy havc, dcw¢,lopc'd Slnho. Keleboglle Motlopye. SomuB05il Kumul. Tunyu Dhlngru, Tebogo Mone$e, Wctorlamarks Dr Vlttorlo Sondri, Yosmine Uddin, Zuzon Fl9•ro¥u, L¥ndourum•zlng teLrm off Khulumo mentors rn South Afrl¢u, Our mlsslon Isto support people and communltl•s In dOlOPIng solutlonsto Ih¢h•ll•nggsthgyla¢•, In th•ways that work forth•m. Th15year we hHve witne55ed how crltiial our work h85 cDiitinued to bp In supporting communillp acr095 tho globo In iho 3reas of niniol health, the aTlS and oducdlion dnd IIvLilihoods As Lhe global menL81 he8lLh c¢l%i% continu (Ind fundlng to suppori communiiios coniinuc5 support At Einber we have continued to gTOW Lhis year. providing more OPPOTtunities lor coryimunity bR5pd mpnlal hp.allh Initiatives 10 pèiincr wlth us. We were dell9hled io have had 50 many Lastly, we are IoTever 9fEilelul to oljr foundcirs ProhssorMqurl¢• BIAottl OBE 111¢4 Prof•$sor Dome Henrletto Moore lar ihpir coniinLi¢d support 8nd 9¢n¢rosily 10 the SHM Ftruiidaiion alongslde Pmlessorsurnh Fldlerwho hds out, wlth 1860 ITOln 00 countries. Showing Ihp nppd for thp kind of Slippori Ihai wc provide and )Iso th aiiiouni ol innovatlon h&v+ %n a huofr l•r our work We believe Firmly in thé Wo suppori poop10, comMLinillos8nd or9anlsalions 10 Improve their mental health and wellbein(J. CJJin new skills. knowlo,diiL' and oimploymcint OPPOTlunitiLiS. dnd acce55 excellent arlisiic experienc& Ihal enrich Iheir Ilves. CDmmuniliLIS, OTgdni5aliOnS nd societies, when ijeo[Jle feel suppori?d. car?d lor Ind c4pabl io oxorciso agoncio5 In Ihoir own lives. We have continued to strlve to rMaIn rolovaDt and rLTr5POn51ve io what Is going on In the vr1d and to our partnprs. needs. acr095 the globe. guidanc 8nd 8dvice We desicJn and implement our own Iniliaiives. conduct partlClP8tory re5earrh and provide fjranis 10 orher rganisalions and proieols. As a sniall foundalion, we lund our own Initiative4 and Jlso seek Funds In partntr5hip Wllh Olhtrr organisaiions AnnoKydd, Dlr•clor•fTh•SMM We hope enjoy readino Ihis reporL None ol our work would be PD£Sible wlthout the incredible team that work5 ai the SHM Fouiidation sed In thè UK, WÈ offices In London Pretorla, South Africa. and work wilh partners in 14 countries There are Inany achieveinent5 from this yedr thdl you Cdn rtrdd In th15 rpporl bLJI there are two I VLI1d like lo say a huge thank you to all the Inember5 of the IL'dm thdr mdk¢' dll our work POS5ible. their commitment 3nd motiyaiion 10 the work we are doing Is In¢r¢dibl¢ l¢d us to Some amazing OLJrcomes. The objects of the SHM Foundation are to undertake for public benèfit any purpogÈ thèt IS thèritèbltr according to the laws of England and Wales as the trustees shall, in their ab501L4te d15cretion. decide Our work 15 always guided byour ethD5 of taking an ompathetic. human appToach to 501ving cornple% problem5 We have worked hard to design a model For oljr menlor prtsgr.)mme In South Afrlca For adolescents and young people This year we committed £285,325.82 to fund Ashlelgh Beuke4 Desmond ClTrouk•. FrotTreèsco Zlnèttl, Gectrgin*7 Mlguel Espondu. Glv•n Monam(o Hgl•na Curon• them to think abDut their Future and make plan5
Ourvalues At the SHM Foundatlon. we strongly bèll•ve that to work well as a team •nd to produce hlgh quallty work, we must uphold shared values. However. our values are not Just Insplratlon. W• put them Into practlce ev•ry day. ess We promot• w•nb•lng. Our ForemTr51 focus 15 to look alter one another arid the people VLi Work Wlih W¢, dL.dicdtL' IimL' and resources to Supporting the wellbeing of our team. pariners and W• prornole portlelpatory 1•4d•rshlp. A5 a teani spread over six countries. dlwdys known Lhdt you don't eed to be ID the Same rooni to create meanin9fL41 human connection The. SHM FDundat10n team collaboratively e5tabli5he5 rhe Foundation's Strategy and develops It5 prrar5 We mointoin J ¢lose- knit. open. and cooperative work environmenL W• eollaborat• wllh communltl•s to CO-d•slgn programs. Our commitmeiit lo our pariners dnd di.IIVLThriny thL' support thL'y require15 unwaverlng We value the wisdom arid first- hand cMPQ.ficn¢o ol Trur parrneT5 and participants and we believe that effective and 5L15tainable prffjram5 can only be designed together with them W• plon•er n•w approa¢h••. W¢.. Iiv¢i In a changing world and challenglng rime5. EveTy facet of Ilfe brin05 a olilferent challenoe. and hen¢ts wt b¢litvQ th813d3ptability. re5pon51vene55 and kindne55 are very Imporiant walue5 We are always learnino innovating and £d£pLir)g so ihai our work remalrts relwant and Impactful and so that can act last when our guppori Is r)eeded most. W• put ¢r•4tlvlty otth• cor• of our work. We see the Pov[ thai creativity h85 In LThnydging piiopIL' Wllh thL' topic of mental health humani51ng and destl9matising mental heallh sirugglo*. and shining a light on the wealth ol innovation in the 5e(tor We uti112P )Tt and de51gn to not an add-on. cor)necLions. ar)d Lreai Lhese ppr5PPEtIVP5 Wlth the re5pe¢t they deserve Annual Report 2024
Our Focus Area Our projects span across three dlfferent areas: Mental Health and W•llb•lng; Educatlon and Llvellhoods: and the Arts. Mental Health and Wellbeing Educatlon & Llvelihoods Arts The Zumbldo Health Ember Mental Health Global Marakwet Educatlon Project Spltalflelds Muslc Afric£ London The Zumbido Health model use5 mobile phone5 to create virLual social support grtsups lor vulnerable and isc)lated populations. ThesÈ support group5 are enableol by OLJr digital platform, where participant5 di5CUS5 petrr to petrr, at any time via text me5sage- a range of issues pertinent to their condition or needs. We have diversified the Zumbido Health model 8nd adapied il inio different context5 for istslated populations and have run the following programmos this year Khuluma Production5, South Afrlca. . The Young Mothor'$ Lounge. Zimbabwe. Ember Mental Healih 15 dedicated to empowering communiiy-based mental health Initlatives In low- rèsource settings, helping them grow Bnd thrive Our mission is to foster an inclusive and diverse mental health ec(>system, ensuring that everyone. regardless of where they are. can access Ihe care they need Keny¢l Palestlnlan Women Cholr London Bloomsbury Festlval London Annual Report 2024
Ouryear At a glance Th1$ year. we*e wltnegsed these rIpP effe¢t$ In actlon. both In •xp•et•d and surprlslng w•ys'. Seeing ripple ettec+E in acFion. W• b•ll•v• flvmly In th• rlppl• •ff•¢ts that are f•lt Kro•i communltl•¥. orgaThl¥atlon•, •o¢l•tl•& when people fÈel tared for. ¢onn•¢t•d. and mpowered wlth knowl•dg• to •hap• th•lr •wn futur• Creatlng pathway5 to dlgnlfled Ilvellhoods and sustainable futures by equipping young peoplè and marginalized groups with essential ski115 8nd economic opportunities. Bulldlng Safe spaces of support and resilience to foster emotional well-being, where participants can openly share, he81, and grow within their communities, Ignltlng ¢onne¢tlons and conversatlons that drlve systemlc change and spark global dlalogue. amplifying voicès from grassroots ental health Initiatives and inspiring new funding models.
MENTAL HEALTH &WELLBEING F2ipple effects examples
Ouryear At a glance MENTAL HEALTH & WELLBEING Feellng empowered - through havlng access to Informatlon, bulldlng knowledge & galnlng awareness huluM4+eArn Crtr¢¢rDA4 eeline ernpots)efed, ¢onne¢+ed, and 6vpported cak) have 4 ripple 4ttec* ok) yovne peopl4. Progr•mm• A¢tlvltl•s Programme A¢tlvltl•s Programm• Actlvltles lthuluma Programm• A¢tlvlll•s Programm• Actlvltle5 Khuluma In Programme Actlvltle5 South Africa Khulum8 Is a prryramme th8t alms to empoweT young people living with and affected by HIV. by providing Ihem Wlih psychosocial and wellbeing suppori and Improving their access to educatitsn and empltryment opportuDities The qoal of Lhe PTO(Jr3mme Is for the young people to lead dignified Iiwes by learning new 5kill$ and securing meaningful job5. become Inspiring role mode15 In their communitie5. and Spark In them the confidence to chase their dreams IhEyStudied andfftal IhEy tDWWpthese Annual Report 2024
Ouryear At a glance MENTAL HEALTH & WELLBEING Feellng supported Enwriry ihllLlho eeling ernpots)efed, ¢onne¢+ed, Evpported c4k) h4Ve 4 ripple 8ttéc* oh yovThe people. ar•llving Programm• Actlvltles Programm• Aetlvltles 3ub¥l4n¢eu Programm• A¢tlvltl•$ Programm• A¢tlvltl•$ ¢Ile9%1[ed lthuluma Progr•mm• Actlvltlès Khuluma South Africa Programme Actovltles Programme A¢tlvltles Annual Report 2024
Ouryear At a glance MENTAL HEALTH & WELLBEING Feellng eonneeted- Through frlendly spaces to open up, Ilke-mlnded buddles to conflde In UlurnK+rn eeline ernpots)efed, ¢onne¢+ed, and 6vpported cak) have 4 ripple 4ttec* ok) yovne peopl4. Programm• Actlvltles 2mÈnttr5TttarJ lthuluma Programm• Actlvll5es Khuluma South Africa %hvlvMA+earn p0PaLLH, Annual Report 2024 10
Ouryear At a glance MENTAL HEALTH & WELLBEING Feellng supported by enhanclng capabllltles Progr4mm Actlvltl•s eniber Programm• Actlvltles Ember Mental Health W•knw51ed-1SOk CBP Globol Ember Is dttdlcaiod to ompowering comniLlnlty-ba5ed mentcil health initiallves In low-rc150urce seiiings. hcilpino them grow and IhriVÈ Sin¢ It$18un¢h In 2019 8$ a collaboration between the SHM Foundation and ihe MenLal Healih InnovaLion Neiwork. Ember h45 5upptsrt+d tsvr 30 Initiatives worldwide. Investinq more than E450K 10 Lrar)slorni menial health supporL In local communltie5 Through ov+r1,600 hours of direct engagement. We' gained deep Insights Into the challenges faced by grassrotrt5 0rg8n15ations. We bttlieve that local communltios hold werful 501utlOnS to global mentcil health Our m15slon 15 to foster an Inclusive and diverse mental hecilih eco5y5tem, ensuring that ovoryonci roigardlLIs5 of whoro they are. Can 8c¢e5s ihe care th need Co11*bi]S1 resources they need to succeed thkDr Eh? While traditional funding models tend to support large. research-based organization5. sm•ller. locally-led. and voluniper-driven initiaLives are frequently overlcmjked Ember t)ridges this gap by selecting and mentoring gra55roo15 mental health projects for 12-24 months. helping Ihpm navigat& chall&ng&.£ and build long-term sustainability Our experience Sho that when commur)Ity-based mental health organi5ation5 Fppl empowpred, lupported, connected. and valued the impact exEend5 far beyond the Indiwidu21s they serve Ir 5trenglhen5 entire commuDItiP5 and Improves Lhe overall quality of niental P05ilive change. Annual Report 2024
Ouryear At a glance MENTAL HEALTH & WELLBEING Feeling cared for B•lng ¢onne¢ted iihfsAnd Programm? Act5vltl*s eniber Programmo A¢tlvltl•s comrnunybLIyE Ember Mental Health Globol Pro9r¥mm• Actlvltles FPVlaTrd IrwD5trMrt ktsl Iwypl Annual Report 2024 12
Ouryear At a glance MENTAL HEALTH & WELLBEING Being seen Pro9ramm• Actlvllles eniber Ember Mental Health Globol Progr•mm• A¢tlvltl•s Ity'.lie I Annual Report 2024 13
Ouryear At a glance MENTAL HEALTH & WELLBEING Feellng connected and supported Feellng empowered Progr•mm• Actlvltles Programm• Actlvltles ¢hiry•ofihrll nrrtd% IT•oIMr YMM .fi Programme Attlvltles Progr•mm• Actlvltl•s 2YMMi IrfvId10rI Programm• Acllvltles Programme Actlv5tl•s aslIa511VetQ Gv Programm• ActlvltSes 140, molnè15 has 1thtr1Ed YMM Project Programm? Actlvltle5 Zimbabwe When young mother5 aged 18 and 25 living with HIV. re51ding In stsme of the rmot+5t parts tsf Ihe worl are connected to a Safe virtual space for the first time. il helps ihem unburden Lhemselves by sharin9 iheir vulner)bilitlP5. Feeling and heaTd In a community of people with shared expeTience5 cataly5e5 the ripple Imllh I1¥uppO 5torie5 at glob,)I plotfoims. and encouraging thpm on a journey toward5 financial independence. Annual Report 2024 14
EDUCATION & LIVELIHOODS F2ipple effects examples 15
Ouryear At a glance Education & Livelihoods We fecognise kne diver6i+y and coMpleXih4 Qtpeoplel6 liva6 in IDd44'8 me8. When p8op14 re¢xive +h4 +Ailore& wpport+h¢y need, iFeqvipE+hern +0 ThwXirni8e+heirpoF¢r¢kial L2ndPUrn +heir dre4rn%. Marakwet Project Kenya Programme A¢tlvltl•$ ncrfMallybvdl1osidVd Annual Report 2024 16
ARTS F2ipple effects examples 17
Ouryear At a glance Arts A++he 6th fovnd44ion Lue envi%ion a w9d Where ¢ve¥Nbod4 ¥IAV¢ ccess+o eXcelleThF eXP8fiellCe8 aMdoppof+vnikn¢s. hAs+he power +0 +rrtn6fr)yth liv¢s- eveThb)oG d4seWe6+o experience i+. Spltalflelds Muslc Pro9ramm• Actlvltles We liave supported thè musi¢lan Saièd Silbak a Palestinian mu51cian based in the UK to work on the thoiT4¥Dr folklore in a tontempor3Ty light, mixing traditional and contemporary instruments Annual Report 2024 18
Our Future Plans We have been deeply motlvot•d by wltne$$lng th• rlpple effect flr$thond of how support. care. and empowerment transform Indlvlduals and radlat• outward to communltl•$. or9anlsatlons. and socletle5. We want to remaln relevant and responsive lo what is going on in the world and lo our partners. needs. Th1$ y•*r. w• h•v• work•d on d•v•loplng ambltlous $trat•g1•$ •¢ro$$ our two cor• focus ar•a$- Mental Hcalth and Wcllbeing (Ember Mental Heallh, Zumbldo Health) and Arts-wlth a clear vlslon to expand thls rlpple effect and reach even more p¢ople. fo$t¢rln9 9r¢at•r Impact and ¢hang¢. Our future plans reflect th15 commltment to ensurlng that the p051tlve effect5 01 our work contlnue to grow •nd touch more Ilvej •round the world. The Ember Fund The Ember fund ha5 exhibited a promising growth trajectory since its inception, and we are poised to sustain this momentum In the forthcoming years with Lhe vision of becoming the largest lunders fully committed to investing in CBMHIS globally Our projections envision a targeted growth for the Ember Fund to attain $6 mllllon in the next three year5. which would allow Ember to 5ur)port 30 to 40 CBMHI5, amplifying Ember s positive impact on a broader s¢ale. rnaking mental health support accessible to all. Zumbido Health As we celebrate a decade of piloting Khuluma in South Africa, we are committed to bLJilding on this success Over the next five years, we viill grow Zumbido Health into a youth-led Initiative that empowers adolescents and young people. both in South Irica and beyond, to navigate their lives with confidence. 8y focusing on psychosocial support, vocational training, and skills development. we slrive to help young pèople not only navigate their own lives but also uplift those around them Arts We envision a future where everyone, regardles5 of background, has access to exceptional arLi5Lic experiences Our Arts strategy reflects this commitment by fostering broader, more diverso audiÈnces and ensuring that the arts enrich as many lives as possible We aim to harness the ptswer of the 8rt5 85 £ tool for Social change. raising awareness and Inspiring audience5 to engage with complex global challonges OLJr strategy focu5es on driving Inclusivity by helping established Our strategic aim is to spark a ripple effect within the philanthropic 5phere- to inspire and encourage private foundations and philanthropist5. currenily funding in difforont areas, ro Invest in the mental health sector. Our SLrategy also Includes exploring different private 5CCtor indu5trie5 where montal health could be a relevant topic to address and to support This underscores our commitment to fostering cros5%ectoral collaboration lor increased Investment In CBMHIS. ZLJmbido Health will also scale up the Khuluma Menior program, providing opportLJnitiÈs for alumni ro contribute to the sustain£billty of Ihe program while empoweriiig new participants. 8y supporting their education, empluyment, and mental well-being. wf are building a ripplc cffect of positive change lor the next generation arts insritutions become More accesslble to dlverse art15tS 8nd communities. Additionally. we will empower emerging £rt15t5 by providing the essential resDurcos they need to thrive Over the nexL three years. we are expanding OLJr arrs work globally. with a special focus on building parinerships across Africa. while continuing to streiigthen our collaborations with key institutions such as the Barbican. Bloomsbury Festival, and tho Royal Academy of Music. Annual Report 2024 19
Our Board of Our Partners We extend nur hpartfelt gratitude to our Co-founders ancl Co-chairs. Professor Dame Henrletta Moore and Professor Maurl¢e Blrlottl OBE. along with our Trustee, Profe550r Sarah Fldler, for their Invaluable guidanco. motivaiion. and supporL This year. we would like to give special recognilion io the establishment of SHM Foundation Africa, based in Nairobi, Kenya We aro dèeply Inspired by our Diiecrors, Rose Walthaka, Am15a Rashld. and Rosebella Iseme. as well as Cathy Mputhl and the C. Mputhla Advo¢ate$. whose instrumental support made the creation of this enrity possible, We are deeply grateful to our long- standing supporiers. the Vltol Foundatlon Lfjihose Invaluable contribution5 have played a key role in LfaT)slorrYiing Lhe Global Mental Healih fleld and advanoing elfoils iobvards bcttor montal hoalih funding We have also had the pleasure of Strengthening Our partnership and dovcloping now program5 With tho Bartlelt Development Plannlng Unlt IDPVI al Unlvr$lty Coll•ye Lot)dot) UCLI. Uvrtd Viiv FomthlTrJn H•ttllhe4r• L8sily. our graiitude goes 10 SHM Produ¢iions Liniiled, QUT m8ln parrner and pillar Their unwavering support has been lnsirumeni8110 our %uttèSS4hank ytsul ('IIOONtR We would algo like to ext&nd our Kokgro Ch•ng•. S¢hoon•r Foundatlon. and Plnt•rest WL. &rL' truly hoDoiL,d that they have chosen toioln us In our mission 10 Iraiiglorm thp Global Mpntal oalih landscapc Addilionally. il has been a pleasure lo collaborate with crillcal Impor13nce ol suppofLlng those who support othpr4 T¥thKIIry Thanks to the coniinLJed support ol nur ca-funclprs-VIIV H•althc•r•. the Vltol Found4tlon, and Ihc T•ll• Found•tlon-wE have been able lo Scdli, dnd rL'plICdtL. thl, Zumbldo H••lth rnodel acro55 Solilhern Afrira working closely wilh our Implementation and acadom1c partno.r£, Zvandlrl In Zimbabwe and K•hfon¥ Hospltal In Pretoria. South Aliica AFRI£AiD14 MH 20
Our policies Polleyon r•••rv• Polley on grant maklng Addltlonal gov•rMne• l$sue¥ Two of the Trustees are directors and 5hareholder5 01 SHM Producrions Limired During rhe last year, the Charity's principal sources ol funds were donations received from SAM Productions Llmiied as well as donations made by other charilable btsdies to clevelop collaborative projects with thÈ Foundation Tho Fc)undation alway5 works collaboratively with partner organi5ation5 that Share its charilable goals and objectives to ensure gtstsd governance and souiid finaiicial management Tru•t•u' eon•ld•ratlon of major rl•k• and th• syst•m• and pro¢•dur•• to m•nag• th•m. The Trustees consider on a regular basi5 il there are any major risks Lo The SHM FoLJndarion along with any risks there mighi be to specific project5 that they are currently running. The Trusrees are confident that there £re adequate Systems and procÈdures In placÈ for reviewing risks and will contlnue to keep these processes under review. There is £259.742,44 in rhe Saving5 accounl. The Trustee5 havè decided to mainrain free reserves in unrestricted funds in the Savings accouni ai J level whlch equates to 8pproximately 10-12 Months of unrestrietecl chariLJble expenditure The trustees consider that this level wlll provlde 5ufflclent funds for the running of the Foundalion assuming no other funds are received The SHM FoLJndarion's grant making has continued to locus this year on grants that support project5 in health, learning, citizenship and the arts Proposals 8re invited by the TrLJslees or Initlated at their request. The Foundation works directly with the beneliciarle5 01 each ol Its proiecL5. Unsolicitecj requests for funding are nol encouraged. Annual Report 2024 21
Our financials Th• SHM Foundatlon grant• w•r• mad• to th• followlng projects: A grant of £32.548.57 was made toward5 the Marakwet Education Project. ProJ•et Emb•r: Donatlon•: Ajoinr funding model between rhe Schooner Foundation, Pinterest, Kokoro Change. Vitol Foundation. SHM ProdLJCtions Limited and the SHM Foundatlon allowecl us to uive out gr8nts to the Ember p8rrners A total of £ 124.037.00 was made to Hope Restoration & Health Initiative, Global Mental Health Peer Network. Girls lor Girls. Church ol Uganda Kisii2i Hospiial. Meiilal Health & Wellbeing on Campus, KPSI. The Taala Foundation. ACUFA, Burans and Positive Konnections- Renewal. W• r•c•lv•d a total of £905,259.28 In donatlon5 and grants. We received a grant from Vitol Foundation for the Ember Project. We received donarions ol £422,807.25 Irorn SHM Production5 Limirecl. We received a grant from Telles Founolation lor the Khulurna Project. A grant of £5,000.00 wa5 made to the Primadonna Festival. We received 8 donation from Roddenberry Foundatlon. We receivecl a gr2nL from Viiv Healthcare for The Young Mother's Lounge Project. We received a grant from the Schoone¥ FoundEtion lor the Ember Projecr. Annual Report 2024 22
Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees report and the finaiicial 5tatement5 In accordancè WlLh applicable law and Uniiod Kingdom Accounting Standard5 (United Kingdom Generally Accepred Accounting Practice). The Trustees are responsible for keeping adequate accounting records that are 5ullicieiit to Show and oxplain Ihe Charitys transactions and disclosè with reasonable accuracy at any time the financial posILion off the Charity and Ènable Lhem to ensure that the financial statement5 comply with the Charitles Aci 2011, Ihe Charity (Aceounis and Reporisl FlegulatiDns 2008 8nd the provisions ol the Tru5L deed. They are also re5pon5ible for safeguarding the assets of the Charity and hence lor taking reasonable step5 for the prevention anol derection of fraud and other irregularities The law applicable ro charities in England & Wales requires the Trustees to prepare linaiicial statements lor each financial which give a true and fair view of the state of affair5 of the Charity and ol ILS incoming resources ancl application of resoLJrces, including its income and expencliture, for Lhat period. In prep2riniJ these financial statemenrs, rhe Trustees are required to Approved by order of the members ol the board of Trustees signed on their beh211 by.. Prof•uorHL Moor• selecl 5Uit2ble accounting policies 3nd then apply them consistently., observe the methods and principles ol rhe Charities SORP IFFIS 1021., make jLJdgements and accounting estimate5 Lhat are reason£ble and pruclent., state whether applicable UK Accouniing Standards IFRS 1021 have been followed. subjeci LD any material departures disclosed and explaimed In the fimamcial statements-. prepare the financial 5tatement5 On Ihe going concern basis unless Ir is inappropriate to presume that the Charity will continue in businoss. Dale.. 16 April 2025 Annual Report 2024 23
the SHM foundation Contact detalls: Annual Vl•p•rt 2•24 24
THE SHM FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Independent Examinerfs Report to the Trustees of The SHM Foundation I'the Charity,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2024. 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)Ib) 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 l am qualified to undertake the examination because l 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: accounting 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 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 cOnrnS 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 l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent pemiitted 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.. Dated: 17 April 2025 Fiona Hawkins FCA James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Business Park Newbury Berkshire RG19 6AB Page 25
THE SHM FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 481,665 423,593 3.251 905,258 3.251 989,927 1,378 Total income 481.665 426.844 908.509 991,305 Expenditure on: Charitable activities 426A05 490.232 916.637 846,576 Total expenditure 426A05 490.232 916.637 846,576 Net incomel(expenditure) Transfers beeen funds 55,260 (10.362) (63,388) 10.362 {8,128) 144,729 13 Net movement in funds 44.898 (53.026) {8.128) 144,729 Reconciliation of funds.. Total funds brought forward 346.283 634.540 980.823 836,094 Total funds carried forward 391.181 581.514 972.695 980,823 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 29 to 42 form part of these financial statements. Page 26
THE SHM FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 11 9,953 985.934 27,362 989,658 995,887 1,017,020 Creditors.. amounts falling due within one year 12 {23,192) (36,1971 Net current assets 972.695 980,823 Total assets less current liabilities 972,695 980,823 Total net assets 972.695 980,823 Charity funds Restricted funds Unrestricted funds 13 391,181 581.514 346,283 634,540 13 Total funds 972,695 980,823 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Professor H L Moore Trustee Date= 16 April 2025 The notes on pages 29 to 42 form part of these financial statements. Page 27
THE SHM FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities {3,723) 161,095 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year (3,723) 989,657 161,095 828,562 Cash and cash equivalents at the end of the year 985,934 989,657 The notes on pages 29 to 42 form part of these financial statements Page 28
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 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 financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102} published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice 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 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 Balan Sheet. Where income is reiVed 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. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 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 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 beeen 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 all¢xated 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. Page 29
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) 1.3 Expenditure (continued 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. 1 A Interest receivable Interest on fiJnds held on deposit is included when re1vable 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 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. 1.6 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. 1.7 Liabilities Liabilities are recognised when there is an obligation at the Balan 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. 1.8 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 recognised at transaction value and subsequently measured at their settlement value with the exptIon 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 30
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) 1.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtheran of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are frjnds 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. Investment income, 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 of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions= The Charity makes estimates and assumptions conceming 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. Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Donations from SHM Productions Limited Expenses paid on behalf of the charity Donated stsff and faciltiies Other donations 284,000 1,326 137,481 786 284,000 1.326 137,481 786 477,500 8,918 130,045 Total donations 423,593 423,593 616,463 Grants 481,665 481,665 373,464 Total 2024 481,665 423,593 905,258 989,927 Total 2023 373,464 616,463 989,927 Page 31
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Interest receivable 3,251 3,251 1,378 Total 2023 1,378 1,378 Anatysis of grants Grants to Institutions 2024 Total funds 2024 Total funds 2023 Health 124,037 32,549 5,000 124.037 32,549 5.000 118,360 27,966 3,000 Learning and citizenship other 161,586 161.586 149,326 Total 2023 149,326 149,326 Page 32
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Anatysis of grants (continued) The Charity has made the following material grants to projects during the year.. 2024 2023 Name of project Marakwet Education Project Ember 32,549 124,037 27,966 118,360 1,000 2,000 Behind the Door Other People's Films Primadonna Festival 5.000 161,586 149,326 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Total 2023 Health 388,856 400,812 789,668 695,697 3,562 74,665 42,426 30,226 Arts Learning and citizenship Other 32,549 5,000 13,581 46,658 29,181 46,130 51,658 29,181 Governan cost 426,405 490,232 916,637 846,576 Total 2023 334,747 511,829 846,576 Page 33
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Anatysis of expenditure by activities Activities undertaken directly 2024 Grant funding of activities 2024 Support costs 2024 Total funds 2024 Total funds 2023 Health 427,326 124,037 238,305 789,668 695,697 3,562 74,665 42,426 30,226 Arts Learning and citizenship Other Governan cost 11,638 46,658 32,549 5,000 1,943 46,130 51,658 29.181 29,181 485,622 161,586 269,429 916,637 846,576 Total 2023 479,587 149,326 217,663 846,576 Anatysis of support costs Total funds 2024 Total funds 2023 Staff costs 73,217 167,031 29,181 16,974 170,463 30,226 Workshop team expenses Governan 269,429 217,663 Independent examiner's remuneration 2024 2023 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts Fees payable to the Charity's independent examiner in respect of.. Accountancy services 2,382 2,205 4.695 4,347 Page 34
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Staff costs 2024 2023 Wages and salaries Social security costs Pension 94,680 9,300 3.787 82,554 7,858 3,142 107,767 93,554 The average number of persons employed by the Charity during the year was as follows: 2024 No. 2023 No. Employees No employee received remuneration amounting to more than £60,000 in either year. 10. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits12023 - £NIL). During the year ended 31 August 2024, no Trustee expenses have been incurred {2023 - £NIL}. 11. Debtors 2024 2023 Due within one year Other debtors Prepayments and accrued income 80 27,282 9.953 9,953 27,362 Page 35
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Creditors: Amounts falling due within one year 2024 2023 Trade creditors 14.031 19,205 2,856 1,084 1,311 11,741 Amounts owed to related paty Other taxation and social security Other creditors Accruals and deferred income 427 1,657 7.077 23,192 36,197 Page 36
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of funds ststement of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Ember fund Transformation fund 1,132 10.034 1,132 10,820 786 786 11.166 11,952 General funds General Funds- all fijnds 634,540 426.058 (490.232) (804) 569.562 Total Unrestricted funds 634,540 426,844 1490,232) 10,362 581,514 Restricted funds Ember 291,592 5,965 604 335,532 46,133 (277.975) (15,792) (10.295) 338,854 36,306 604 Khuluma Zvandiri Goalkeepers AT2030 67 18,984 10,293 6,813 11,438 527 167) (18,984) (10,293) (103.167) (194) Project Noor The Young Mother's Lounge Royal Academy of Music Me Later Leer 100.000 3,646 11,244 527 346.283 481.665 1426.405) (10.362) 391,181 Total of funds 980,823 908.509 (916.637) 972.695 Page 37
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. 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-resoUr 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 enhan 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 Confiden 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. 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 assistan (including smart phones and accessible sOare). Project Noor The aim of the project is to work with a demographic group that is particularly disadvantaged when it comes to securing a dent 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 Motherfs Lounge The project aims to scale up an integrated virtual support system for pregnant and breastfeeding mothers living with HIV to improve health & wellbeing. Royal Academy of 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 aCsS to and participation in the Academy's activities, are core to their mission. Page 38
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of funds (continued) ststement of funds - prior year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Unrestricted funds General Funds- all funds 528,528 617,841 (511,8291 634,540 Restricted funds Ember 184,460 32,164 604 281,925 (174,7931 (26,1991 291,592 5,965 604 Khuluma Zvandiri Goalkeepers AT2030 67 67 19,184 47,043 23,517 (200) (36,7501 (93,243) (3,5621 18,984 10,293 6,813 11,438 527 Project Noor The Young Mother's Lounge Royal Academy of Music Yathu Yathu 76,539 15,000 527 307,566 373,464 (334,747) 346,283 Total of funds 836,094 991,305 (846,576) 980,823 14. Summary of funds Summary of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Income Expenditure Designated funds General funds 786 11.166 (804 (10.362) 11.952 569,562 391.181 634,540 346,283 426,058 481.665 1490,232) (426.405) Restricted funds 980,823 908.509 (916.637) 972.695 Page 39
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Summary of funds (continued) Summary of funds - prior year Balan at 1 September 2022 Balance at 31 August 2023 Income Expenditure General funds Restricted funds 528,528 307,566 617,841 373,464 (511,8291 (334,747) 634,540 346,283 836,094 991,305 (846,576) 980,823 15. Analysis of net assets between funds Anatysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Current assets 391,181 604,706 (23,1921 995,887 (23,192 Creditors due within one year Total 391,181 581,514 972,695 Analysis of net assets between funds - prior period Restricted funds 2023 Unrestricted funds 2023 Total funds 2023 Current assets Creditors due within one year 346,283 670,737 (36,197) 1,017,020 (36,197) Total 346,283 634,540 980,823 Page 40
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net incomelexpenditure for the period (as per Statement of Financial Activities) (8,128 144,729 Adjustments for: Decrease in debtors 17,410 113,005 2,544 13,822 Increaselldecrease) in creditors Net cash provided byl(used in) operating activities (3,723) 161,095 17. Anatysis of cash and cash equivalents 2024 2023 Cash in hand 985.934 989,657 Total cash and cash equivalents 985,934 989,657 18. Analysis of changes in net debt At1 September At31 2023 Cash flows August 2024 Cash at bank and in hand 989,657 (3,723) 985,934 989,657 (3,723) 985,934 Page 41
THE SHM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 19. Related party transactions During the year the charity entered into the following transactions with SHM Productions Limited= 2024 2023 Donations made to SHM Foundation Donated use of premises Donated use of staff Expenses paid on behalf of the charity 284,000 23,943 113,538 1.326 474,161 17,236 112,809 8,918 422,807 613,124 At the year end, £Nil (2023: £2,856) was due to 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 42