Company registration number.. 07037120
Charity registration number.. 1133652
SANIBEL FOUNDATION
TRUSTEES. REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Robert Ollman and Co.
156 High Road
Chigwell
Essex
IG7 5BH

Sanibel Foundation
Contents
Page
Reference anij Administrative Details
Trustees, Report
Independent Examinerfs Report
statement of Financial Attivities (including Income and Expenditure Account)
statement of Financial Position
Notes to the Financial Statements
8-12

Sanibel Foundation
Reference and Administrative Details
For The Year Ended 31 March 2025
Trustees
M5 Gema Glover
Mr James Cooke
Mr Andrew Ross
Charity Number
1133652
Company Number
07037120
Registered orrice
11 The Shrubberies
George Lane
London
E18 IBD
Independent Examiner
Stephen Simmons FCA
Robert Ollman and Co.
156 High Road
Chigwell
Essex
IG7 5BH
Bankers
Virgin Money
154-158 Kensington High Street
Lontlon
W8 7RL
Solicitors
BDB Pitmans LLP
One Bartholomew Close
London
ECIA 7BL
Page I

Sanibel Foundation
Company No. 07037120
Trustees, Report For The Year Ended 31 March 2025
The trustees present their report and the financial ststements for the year endetl 31 March 2025.
Objectives and A¢tlvitie5
Signlficant Activities
l) The charity continued making grants to boxing clubs seeking to increase their activity and impact. Such clubs were
required to be well-established, affiliated with England Boxing and able to demonstrate local comrnunity support through
successful fundrnising.
By year end, the charity had made awards to four clubs.
North Mersey ABC. Established 25 years ago in Seaforth. Liverpool thts club had launched a well-supported fundraiser to
buy a minibus. The charity was pleased to supplement these funds, allowing the purchase of a good quality vehicle.
Mercia Boxing Club. This club. based in Tamworth, had secured a significant investment to renovate a long-neglected
local community centre that Was planned to be the club's new home. After the renovation was suc￿SsfUllY completed the
charity provided a grant towards the purchase of new boxing equipment.
Windrush Valley ABC. This busy club, with close links to nearby RAF Brize Norton. was raising funds to relocate from the
village of Bampton to Carterton, Oxforiishire. While the club was in the process of converting to charitable status and
negotiating access to new premises with the local council. Sanibel provided a grdnt for equipment to ensure the club
continued to provide a quality experience to its boxers durFng the interim period.
Rayne Boxlng Club. Based in Essex, Rayne Boxing was crowdfuntling to purchase a new ring and Sanibel was pleased to
supplement the amount raised to allow the club to complete the purchase.
2} The charity considered how else it could assist clubs both to increase community impart and develop more durable
business models. Buckingham Boxing Club had plans to introduce a boxing-based alternative provision programme for
excluded and hard-to-reach young adults in the local area. Sanibel provided grant fvnding to relocate and expand the club's
gym to 6 site that offered classroom space for such programmes. The charity also funded a minibus for use by both the
club's boxers and the participants of alternative provision.
3) The charity has long been aware that development opportunitie5 for volunteer club coaches are limited. Recognising that
access to quality coaching is a pre-requisite for boxing success, the charity agreed a pilot project with England Boxing for
10 club coaches based in the Home Counties to attend a four-day developmefit programrne with the national coaching team
at the England Insti￿te of Sport in Sheffield.
4} Development opportunities for women and girls in the sport regrettably remain limited. The charity therefore a9reed to
fund a pilot project with England Boxing to provide a bespoke, season-long training programme for up to 15 ambitious girls
wanting to box competitively in the future.
Public Benefit
We have referred to the guidance in the Charity Commission's general guidance on public benefit when ￿vIewIng our aims
and objertives and in planning our future activities.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due
regard to the Charity Commission's guidance on public benefit.
Financial Review
Financial Position
The charity continued to benefit from a reliable income stream. this year of £35.555 from investments managed by $6rasin
& Partners LLP, a specialist investment manager for charities. Another volatile year in the financial markets ended with a net
gain of £14,108. The charity remains in a strong financial position to pursL>e its chèritsble obJective5.
Reserves Pollcy
The charity's intention remains to diminish reserves through the funding of projects consistent with the charity's current
and future charitable objects.
Totsl funds at year end were £1,268,154.
The Tru5tee5 have not entered into any legally or morally binding charitable commitments or guarantees which might
require separate disclosure.
Page 2

Sanibel Foundation
Trustees, Report (continued)
For The Year Ended 31 March 2025
Going Concern
After making appropriate enquiries. the trustees have a reasonable expertation that the company ha5 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.
Future Plans
l) The charity will continue to provide grants to well-estèblished clubs. affsliated with England Boxing. that are seeking to
raise funds for boxing facilities and can demonstrate the support of their local community.
2) The charity will monitor the progress of the alternative provision partnership with Buckingham Boxing Club and explore
how this might be expanded to help other clubs with a similar interest in this area.
3> Following a successful review of the Home Counties coaching pilot, the charity will look to roll out the initiative to other
regions.
4) The charhty will monitor the progress of the women and girl's development projert. which is not planned for completion
until financial year 2026-27.
strurture. Governance and Management
Governing Document
Constitution
Sanibel Foundation is a company limited by guardntee {No. 07037120) incorporated in England and Wales on 9th October
2009 and a registered charity (No. 1133652). It's goveming document is the Memordndum and Articles of Association. The
mernorandum and Articles of Association were last updated on 8th December 2021.
The charity's obj.ects are to promote and protect well-being and p05its.ve rnentsl health through the provision of
psychological therapy, psycho-educational programmes, coaching and assistance to access employment, educètion and
training and the promotion of cornmunity participation in healthy recreab'on, in particular by the provision of facilities and
coaching for boxin9.
Organlsatlonal strurture
The company is manageil by the board of trustees, elerted under temis of the A￿'cleS of Association. Trustees are required
to hold significant experience in a professional field and to demonstrnte sympathy and commibnent to the company's
ctivities.
In addition to meeting the above requirements. new trustees meet wrth the Chief Executive to familiarise themselves with
the artivities of the company before shadowing board meetings. Subsequent election is by unanimous vote at a properly
convened meeting.
The board meets at least four time5 a year.
The daily operational and financial activities of the charity are delegated to the Chief Executive who attends all board
meetings. The trustees and the Chief Executive are Key Management Personnel.
Risk management
The trustees have assessed the major risks to which the company is exposed. in particular those related to the operations
and finances of the company.
The trustees are satisfied that systems are in place to mitigate the company's exposure to the major risks. Appropriate
controls are in place to provide reasonable assurance against fraud and error.
Page 3

Sanibel Foundation
Trustees, Report (continued)
For The Year Ended 31 March 2025
ststement of Trustees. Responsibilities
The trustees (who are also the dirertors of Sanibel Foundation for the purposes of company law) are responsible for prepating
the Trustees, Report and the financial statements in accordance with applicable law and Unite(l Kingdom Accounting
standards (United Kingdom Generally Accepted Accounting Practice).
Company law ￿qUireS the trustees to prepare financial statements for each financial year. Under company law the trustees
must not approve the financial statement unle55 they are satisfied that they give a true and fair view of the state of affairs of
the charitable company and of the incoming resources and application of resources, including the income and expenditure, of
the charitable company for that period. In preparing the financial statements the trustees are required to-
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP:
make judgments and accounting estimates that are reasonable and prudent,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business.
The trustees are responsible for keeping adequate accounting ￿cordS which disclose with reasonable accuracy at anytime the
financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and ¢Jetection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corpordte and financial infomiation included on the
charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial
statements may differ from legislation in other Jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies
regime within Part 15 of the Companies Act 2006.
The trustees. report was approved by the board of trustees and signed on its behalf by..
a Glover
Trustee
0811012025
Page 4

Sanibel Foundation
Independent Examiner's Report to the Trustees of Sanibel Foundation
For The Year Ended 31 March 2025
I report to the charity trustees on my examination of the accounts of the Company for the year endeil 31 March 2025.
Responslbllitles and Basis of Report
As the charity trustees of the Company (6nd also its directors for the purposes of company law), you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Att 2006 rthe 2006 Art-l.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and
are eligible for indepentlent examination, I report in respect of my examination of your chartty s accounts as carried out under
section 145 of the Charities Act 2011 Cthe 2011 Art.). In carrying out my examination I have followed the Directions given by
the Charity Commission under sertion 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirni that no matters have come to my attention in connertion wtth the examination
giving me cause to believe:
l. accounting records were not kept in respert of the Company as required by section 386 of the 2006 Art; or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Art other than any
requirement that the accounts give è 'true and fair view. which is not a matter considered as part of an independent
examination. or
4. the accounts have not been prepared in accordance with the methods and principles of the Staternent of
Recommended Prartice for accounting and reporting by charities applicable to charities preparin9 their accounts in
accord
with the Financial Reporting Stan¢Jard applicable in the UK and Republic of Ireland IFRS 102).
I have no
dra
onc
ns and have come across no other matters in connertion with the examination to which attention should be
eport in order to enable a proper understanding of the accounts to be reached.
stephen Simmons FCA
0811012025
156 High Road
Chigwell
Essex
IG7 5BH
Page 5

Sanibel Foundation
statement of Financial Activities (including Income and Expenditure Account)
For The Year Ended 31 March 2025
2025
2024
Unrestricted Unrestricted
funds
fvnds
Notes
INCOME AND ENDOWMENTS FROM:
Investments
35,555
4,452
37,028
Other
40,007
37,028
EXPENDITURE ON:
Raising funds
(122,0171
(130,454)
NET EXPENDITURE BEFORE INVESTMENT LOSSES
Net gains on investments
(82,010)
14,108
(93,426)
97,252
NET EXPENDrnJRE
(67.902)
3,826
NET MOVEMENT IN FUNDS
(67,902)
3,826
RECONCILIATION OF FUNDS:
Total funds brought forward
1,336,056
1.332,230
TOTAL FUNDS CARRIED FORWARD
15
1,268,154
1.336,056
The notes on pages 8 to 12 form part of these financial statements.
Page 6

Sanibel Foundation
statement of Financial Position
As At 31 March 2025
202S
2024
Unrestrirted
funds
Total
funds
Note5
FIXED ASSETS
Investments
12
1,236,725 1,322,636
1,236,725 1,322,636
CURRENT ASSETS
Debtors
Cash at bank and in hand
13
161
159
34,018
15,542
34,179
15,701
Creditors: Amounts Falling Due Within One Year
14
(2.750)
{2,281}
NET CURRENT ASSETS (LIABILITIES)
31.429
13.420
TOTAL ASSETS LESS CURRENT LIABIUTIES
1.268.154 1,336.056
NET ASSETS
1,268,154 1,336,056
FUNDS OF THE CHARITY
Unrestrirted Funds
1,268,154 1,336,056
TOTAL FUNDS
Is
1,268,154 1,336,056
For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the
Companies Act 2006 relating to small companies.
The members have not required the charFtsble company to obtain an audit in accordance with section 476 of the Companies
Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Att with respert to accounting
records and the preparation of accounts.
These accounts have been prepared accordance with the provisions applicable to companies subject to the small companies
regime.
On behalf of the board
M9
ema Glover
Trustee
0811012025
The notes on pages 8 to 12 form part of these financial statements.
Page 7

Sanibel Foundation
Notes to the Financial Statements
For The Year Ended 31 March 2025
l. General Informatlon
Sanibel Foundation is a company limited by guarnntee, incorpordted in England & Wales. registered number 07037120 and
registered charity number 1133652. The reghstered office is 11 The Shrubberies, George Lane. London. E18 IBD.
2. Accounting Policies
2.1. Basis of Preparation of Flnanclal Statements
The financial statements have been prepared under the Companies Act 2006 and in accordance with the Charities
Statement of Recommended Practice (Charities SORP IFRS 102)) and Financial Reporting Standard 102 (FRS 102). The
financial statements are drawn up on the historical cost basis of accountings as modified by the revaluation of
investments.
Sanibel Foundation is a company limited by guarantee and has no share capital. Its registered office is at 11 The
Shnjbberies, George Lane, London E18 IBD. The company is a registered charity- Sanibel Foundation is a Public
Benefit Entity as defined by FRS 102.
The financial statements are preapred in sterling, which is the functional currency of the charity. Monetary amounts In
these financial staternents are rountled to the nearest £.
2.2. Incoming Resources
Voluntary income and donations (including legacies) are accounted for once the charity has entitlement to the income.
it is probable the income will be received. and the amount of income receivable can be readily measured. The income
from fundraisin9 is shown gross, with the associated costs included in fundraising costs. Where material assets are
donated to the company for its use, these are capitalised at the estimated market vallte at the date of the gift and are
included under income. Assets given for distribution by the charity a￿ received as income when distributed and
stated Èn the accounts èt the direttors, estimated market value at the time of receipt.
Investrnent Income any associated tax credits is included in the financial statements when receivable.
2.3. Tangible Fixed Assets and Depredatlon
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairnient losses.
Depreciatlon Is provided at rates calculated to write off the cost of the fixed assets, less their estÈmated residual value,
over their expected useful lives on the following bases-
Computer Equipment
33% on cost
2.4. Investments
Those qtjotes on a recognised stock exchange are at market value and other investments are included at tru5tee5' best
estimate of market value. All gains or losses ère taken to the Ststement of Financial Activities and included in net
income for the year.
2.5. Cash and Cash Equivalents
Cash at bank and in hand include5 cash and short terrn highly liquid investments with a short maturity of three months
or less from the date of opentng of the deposit.
2.6. Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial
instruments are initially recognised at trnn5acts.on value and subsequently measured at their settlement value.
2.7. Taxation
The charity is exempt from tax as all It's income is charitable and applied for charitable purposes.
2.8. Provisions and Contingencies
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will
probably result in the transfer of fiJn¢Js to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are recognised at their settlement amount.
2.9. Charitable Activities
Expenditure is accrued as soon as a liability in considered probable, discounted to present value for longer term
The tnajority of costs are directly attributable to specific activitie5. stsff costs are allocated on the basis of time sper¢t
by staff on each activity. Office costs, including 9overnance costs, are charged dirertly to the artivity when incurred.
Page 8

Sanibel Foundation
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.10. Restricted funds
These are funtls which are restrirted when given by the donor as to the purpose for which they can be used. The
trustees are obliged to follow the donor's wishes or return the monies to the donor if they are unable to do so.
2.11. Unrestricted funds
Unrestrirted funds are given free of any ￿$t￿rtIOn by the donor and are to be used by the tnjstees in accordance with
the objects of the charity generally.
3. Investment Income
2025
2024
Unrestricted Unrestricted
funds
funds
Bank interest receivable
Dividends from investments
476
719
36.309
35,079
35,555
37,028
4. Other Income
202S
2024
Unrestricted Unrestricted
funds
funds
Other income
4,452
5. Analysls of Expenditure
202S
Grant
funding of
Support
artivities
Costs
(see note 6) (see note 7)
Activities
undertaken
dirertly
Total
Raising funds
59,343
56,570
6,104
122,017
2024
Grant
funding of
Support
activities
costs
(see note 6) (see note 7)
Activities
undertaken
directly
Total
Raising funds
59,233
65.616
5,605
130,454
Pdge 9

Sanibel Foundation
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
6. Grants Payable
2025
2024
Grants to
Grants to
Instltutions Institutions
Raising funds
56,570
65,616
2025
2024
Didcot Boxing Academy - 10 grants
High Wycombe Warriors Boxing Club - 3 grants
Cullompton Amateur Boxin9 Club - 5 grants
Windrush Valley Amateur Boxing Club - I grant
Buckingham Boxing Club - 3 grants
North Mersey Amateur Boxing Club - I grant
Rayne Amateur Boxing Club - I grdnt
Mercia Boxing Club - I grant
42,439
6,760
16,417
5.000
26,570
12,000
3.000
10,000
56,570
65,616
Grants payable are payments ma(ie to third parties in the furtherance of the charitsble obj.ects of the charity. In the case of
an unconditional grant offer this is accnjed once the recipient has been notified of the grant award. The notification give5 the
recipient a reasonable expertation that they will receive the one or multi year grant. GTrnts awards that are subjert to the
recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any
remaining unfulfilled conditions attaching to that grant are outside the control of the charity.
7. Support Costs
2025
Raising
funds
Employee costs
General administration
1,902
2,812
1,390
Governance costs
6,104
2024
Raislng
funds
Employee costs
General administration
1,378
2,904
1,323
Governance costs
5,605
8. Independent Examiner's Remuneration
2025
2024
Independent examination of the financial statements
1,390
1,323
Page 10

Sanibel Foundation
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
9. Stsff Costs
Stsff costs were as follows:
2025
2024
Wages and salaries
Other pension costs
10,583
47,896
58,396
58,479
58,396
No employee earned over £60,000 in the year. nor in the previous financial year. The avefage number of persons employed
by the charity during the year was l (2024 - 1).
The total employee benefits of the key management personnel of the charity were £58,479 (2024: £58,396).
10. Average Number of Employees
Average number of employees during the year was: l (2024: 1)
11. Tangible Assets
Computer
Equipment
Cost
As at l Aprll 2024
14,209
As at 31 March 2025
14,209
Depreciation
As at l April 2024
14,209
As at 31 March 2025
14,209
Net Book Value
As at 31 March 2025
As at l April 2024
12. Investments
Listed
Cost or Valuatlon
As at l April 2024
Disposals
Revaluations
1,322,636
{ioo,000)
14,089
As at 31 March 2025
1,236,725
Provision
As at l April 2024
As at 31 March 2025
Net Book Value
As at 31 March 2025
1,236,725
As at l April 2024
1,322,636
Page 11

Sanibel Foundation
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
13. Debtors
202S
2024
Due within one year
Other debtors
161
159
14. Creditors: Amounts Falling Due Within One Year
2025
2024
Accruals and deferred income
2,750
2,281
15. Movement in Funds
As at l April
2024
Asat31
Expendlture March 2025
Income
Unrestrirted funds
General..
General unrestricted fund
1.336.056
40,007
(107,909)
1,268,154
Total funds
1.336.056
40,007
1107,909)
1,268,154
As at l April
2023
Asat31
Expenditure March 2024
Income
Unrestricted funds
General:
General unrestricted fund
1.332.230
37,028
133,202)
1,336.056
Total funds
1,332,230
37.028
(33.202)
1,336,056
Unrestricted fvnds as at balance sheet date includes a revaluation reserve of £380.957 (2024: £397,793).
16. Transactions with Trustees
Norse of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity
during the current or previous year.
No trustee expenses have been incurred.
17. Related Party Disclosures
There have been no related party transactions in the reporting period that ￿qUire disclosure.
18. Company Ilmited by guarantee
The company is limited by guarantee ano has no share capital.
Every member of the company Ljndertakes to contribute to the assets of the company. in the event of a winding up, such an
amount as may be required not exceeding £1.
Page 12