Cornpany reoistration number: 07037120 Charity reg¢stratyon nurnber.. 1133652 SANIBEL FOUNDATION TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Robert Ollman and Co. 156 High Road Chigwell Essex IG7 5BH
Sanibel Foundation Contents Page Trustees. Report Independent Examinerfs Report statement of Financial Activities {induding Intome and Expenditure Acccwjntl ststement of Financial Posrf(ion Notes to the Firwncial Statements 8-13 The tolloTJYlng pages do not form part of the statutory accourts: Detailed statement of Financial ACtive$ lincludlno IrOme and EWndItu Account) 14
Sanibel Foundation Company No. 07037120 Trustees. Report For The Year Ended 31 March 2026 The tFU5tees present their report and the financial statements for the year ended 31 March 2026. Objectives and A¢tivitie Significant Activitie 11 The charity continued rriaking grants to boxin9 clubs seeking to inuease their activity and irnpact. Such clubs were required to be well-established. affiliated with England Boxing and able to detnonstrate local community support through successful Fundraising. By year end the challty had made awards to four dubs. The Fort Boxing Club. This club is based in Whitchurth. Shmpshire and dernoTrstrated aTh irnpressive fiJndraisirs9 record, with active support from the local community. The charity was pleased to award the dub £IO.000 towards the purchase of minibus. Ring¢raft Boxing Gym. Based in Dunstable. Bedfordshire, thr5 dub is both a busy. suceessful boxiTro oym and a valuable cornrnunity hub. Raising rnoney from a rarvje of sources. the dub sought a minibus for use by both the boxers and the wider comrnunity. Sanibel was pleased io provide a grant of £IS.000 towards this purthase. Havtrhlll ABC. Based in Suffolk. this club has lono been a part of the local cornrnuntty, with an ernphasis on competitlve boxing. The cltsb having raised significant amounts for a minibus. the charity made an avmrd of E15,000. Marden ABC. Based in North Shields, Nevicastle. this busy dub was rair Mor for a new ring and Sanibel was pleased to award £3,000 to facilitate the completi(vb of the purchase. 21 The charity funded a pilot project, A£pire to Greatne55, With En9larMJ PXIn9 to provide a bespoke. season-long trnining prograrnme for up to IS arnbfiious girfs wantir¥g to bDX competTknYely in the hjture. Combining online sessions with in- persot) coaching at the Enoland Instytute of Sport IEISI the programme rnade best practicp performance Coaching available to the girts, who were also provided wth speaalist. fitted lJoxsTr0 kit. To further support oiris bo¥ing. the charity provided an award of E2.850. complementing fvnding by the Home Counties region, to facilitste the travel and accommodation of 15 girt bDxers and 4 coache5 to the Golden Gid COrnPEtition In Sweden. 31 Building on a succe55ful previous pilot pmJett. the charity fvThJed a ftjrther frjur proiacts for cohorts of up to 15 dub coaches to attend a four-day development programrne wth the England Boxing Performance Tearn at ELS. Public Benefrt We have referred to the guidan in the Charity Commission's general guidan on publbc benefit when roviewing our aims and objectives and in planning Ouf future activities. The trustoes confim) that they have COrnpl wFth the requirements of SeLtfjon 17 of the Charities Act 2011 to have due regard to the Charity commissn'S guidance on public benefit. Financial Revlw Financial Position The charty continued to benefit from a reliable income stream, this year of E33,183 rnainly from investrnents managed by Sarasin & Partners LLP, a 5petialist investment manager for thèritiès. Anothei volatile year in the financial markets ended with a net gain of £34.784. The charity remains in a strong finanoal position to pursue its eharitable ob]ecti¥es. Reserves Policy The charity's intention remains to dimini%h reserves through the funding of projects consistent Yrftth the chartty'5 current and future charitable objects. Total funds at year end were £1.182.353. The Trustèes have not entered into any legally or morally bindin9 charitable commrtments or guarantees which might require separate disc105ure. Page I
Sanibel Foundation Trustees. Report (continued) For The Year Ended 31 March 2026 Golng Coneqrn After makin9 appropriate onquiries. the trustee5 have a reasonable expertation that the company has adequate resourtes to continue in operational qxistence for the foreseeable future. For this reason they coThtyThue to adopt the ooing concern basis in preparing thè financial staternents. Future Pl•ns 11 The charity viill continue to consider makin9 grants trj well-estaNtsW dubs. affiliated viith England Boxirkgi that are seeking to raise funds for bDxing facilities and can demonstrate the support of their l¢)cal comrnunty- 21 The charity wlll review the outcomes of the Aspire to Gre2trss prDjec¥ Ikryising with England Boxing to identify possible future plans in this area. 31 The charity his committe¢J to two further commuThity coathing projects. to be offered to club ct)ache5 EnglaThd-wide. Working with England Boxing. the sucLtss of these projects will then b8 reviewed befo deoding tspon fJrther artivity. 41 The charity has agre to work with England Boxing to fund a pilot profjert a55isting ar¢und 45 talented young boxers across England to access England Boxing's rfOrManCe stsndards an¢J coachi#9 phi1050phy at EIS. It is anticipated that this will both help to retain those boxers withn the sport and provide inspiRtion to other young boxers looking for development opportunities beyond club and regional level. Structure Governance •thd M•nagenaent Goveming Document Constbtution Sanibel Foundation is a company lirnited by guarantee (No. 070371201 intorporatsd in England and Wales on 9th Ortober 2009 and a registered charity (No. 11336521. It's governing document is the Memorandurn and Article5 of Association. The rnemorandum and Articles of Association were lasi updated 8th December 2021. The charity's objeets are to prornote and protett well-being and positive mental heath through the provision OF psychological therapy. psycho-educatK)nal programme5. coaching and assistance to ac$$ employment. education and training and the prornotion of community parritipatitsn in healthy recreation, in particular by the prOV10n of facilities and coaching for boxing. Oryanisation41 •tru¢lu¥ The company Is managed by the board of trustees. elected under terrn5 of the Artide5 of Assouation. Trustees are required to hold sionrficant experience in a professional field and tts demonstvate sympathy and cornmitment to the company's artivityes. In addition to meeting the above requirements, new trUStS rneet with the Chief Executive to famsliarise themselve5 wth the activities of the cornpany bsFore shadovisng board meetings. Subsequent èkcbon is by unanimous vote at a propedv convened meeting. The board meets at least four times a year. The daily operational and finanoal artivities of the charity are delegated to the Chief Executive who attends all board Meetings. The trustee5 and the Chief Executive are Key Management Personnel. Risk management The trustees have as5e55ed the major risks to whlth the company is expDsed. in parbcular those related to the operatlons and finances of the cornpany. The trustees are satlsfied that systems are In place to mitigate the cornpany's exposure to the major risks. Appropriate controls are in place to provide aSOnable assurance against fraud and error. Pa9e 2
Sanibel Foundation Trustees. Report (continued) For The Year Ended 31 March 2026 Reference and Adrninistrative DetailB Trustees Ms Gema Glover Mr Andrew Ross Mr Jarnes Cooke Company Sacrttary Mr Paul Hingston Charity Number 1133652 Company Number 07037120 Registered Office 11 The Shrvbberies George Lane London E18 IBD Independent Examiner Stephen Simtnons FCA Robèrt Ollrnan and Co. 156 High Road Chigwell Essex IG7 58H Bank•r8 Virgin Money 154-158 Kensington Hi9h Street London W8 7RL Solb¢ltors BDB pr¢mBns LLP One 8artholomew Close London ECIA 7BL Page 3
Sanibel Foundation Trustees. Report {continued) For The Year Ended 31 March 2026 Statement of Trustees. Responsibilitie5 The trustees Iwho are also the direEtors of Sanibel Foundation for the purp)se5 of company lawl are responsible for preparing the Trustees, Report and the financial statements In accordance with applicablÈ law and Unite<J Kin9dom Accounting Standards (United Kingdom Generally Atcepteo Accounting Practicel- Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair vievl of the State of affair5 of the charitable company and of the incorning resources and applicatiori of resources. including the income and expenditure. of the charitable company for that period. In preparing the financial statements the trustees a quIred to.. select suitable accounting ptslicies and then apply them consistentlyi observe the methods and principles in the Charity SORP. make Judgments and accounting estsmates that are w50nable and prudent., and prepare the financial statetnents on the going concern basis unless It is inappropriate to presume that the companv will continue in business. The trustee5 are responsible for keeping adequate accounting recorijs which disclose with reasonable accuracy at anytime the financial position of the charitable Company and to enable them to ensu that the accounts comply with the Companie5 Att 2006. They are also Sponsible for safeguarding the a55ets of the company and hence for taking aSonable steps for the prevention and detectyon of fraud and other Irregulanties. The trustees are responsible for the maintenance and integrity of the COOr?te and financial information inclutled on the charitable cornpany's website. Legislation In the United Kingdom governing the pparatsOn and disserninatson of finanoal Statements may differ from legislatson in other ]urisdittions. Small Company Rules This report has been prepared in accordance with the special provisions relats.ng to companies subjert 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 its behalf by.. MSG a Glover Trustee 3110712026 Page 4
Sanibel Foundation Independent Examiner's Report to the Trustees of Sanibel Foundation For The Year Ended 31 March 2026 I report the charity tn15tees orb my exarnination of the accounts of the Company for the year ended 31 Marth 2026. ResponlbSlltles and Basis of Report As th£ charity trustees of the Company lard also its diTector5 for the purposes of company lawl. you are responsible for the preparation of the accounts in accordance with the requiFEments of the Cornpanies Act 2006 (e 2006 Act"). Having satisfied myself that the accounts of the Company are not reqLsired to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your thar5fy'5 accounts as carried out under sectyon 145 ef the Charities Act 2011 1.the 2011 Act?. In carrying out my examirsation J have follDvied the Directions given by the Charity Commlsslon under secbon 145{51 {bl of the 2011 Act. Independent ExamiTrer'$ Stateme I have completed my exarnination. I coThfirni that no rnatters hove come to my attention in connection wiith the exarninatiors giving me cause to believe= l. accounting records were not kept in respect of the Company as requtred by sertion 386 of the 2006 Art,. or 2. the accounts do not actord with those records.. or 3. the accounts Oo not comply with the accountino reouirernerts of settion 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair vievi. whi<th is not a matter considered as part of independent exarnination,. or 4. the accounts have not beEll prepared in accordance with the rnethods and pllnciples of tho Statement of Recornmended Practice for accounting and reporting by thariiie5 applicable to charities pParing their accounts in accordance with the FinancTal Reportin9 Standard applicable in the UX and Republic of Ireland IFRS 102). I have no cOnrS and havo come across no other rnatt•rs in connection wth the examination to Yihich attsntyon should be drawn in report in order to enable a proper understanding of the accounts to be reached. Stephen Simmons FCA 3110712026 IS6 High Road Chigv4ell Essex IG7 5BH Page 5
Sanibel Foundation Statement of Financial Activities (includin9 Income and Expenditure Account) For The Year Ended 31 March 2026 2026 2025 Unr*tri¢ted Unrestrirted fund funds INCOME AND ENDOWME14TS FROM: Investrnents 33,183 35,555 4,452 Other 33,183 40.007 EXPENDITURE ON: Raising funds 1153.7681 1122.0171 NET EXPENDITURE BEFORE IIIVESTMENT LOSSES 1120.5851 34.784 {e2.010} 14,108 et 9ains on iThvestrn•nts NET EXPENDMIRE 185,8011 167,9021 NET MOVEMENT IN FUNDS 185,801) 167,9021 RECONCILIATION OF FUNDS: Total fu5 brought forward 1.268.154 1.336.056 TOTAL FUNDS CARRIED FORWARD 15 1.182.353 1,268.154 The notes on pages B to 13 forni part of these financial ststements. Page 6
Sanibel Foundation Statement of Financial Position As At 31 March 2026 2026 2025 Unrestricted fund$ Total funds FIXED ASSETS Inve5tmetTrts 12 1.166,683 1,236,725 1,166,683 1,236,725 CURRENT ASSETS Debto 13 159 161 Cash at bank and in hand 28.761 34,018 28,920 34.179 Creditor$: Amounts Falling Due Withln One Year 14 113.2501 12,7501 NET CURRENT ASSETS {LIABIUTIES} 15,670 31,429 TOTAL ASSEfs LESS CURRENT LIABILrrIES 1,182,353 1,268,154 NET ASSETS 1,182,353 1,268,154 FUNDS OF THE CHARITY Unrestricted Funds 1.182,353 1,268,154 TOTAL FUNDS 15 1.182,353 1,268,154 For the year ending 31 March 2026 the charFtable company was entiued to exemption from audit under sethon 477 of the Companies Act 2006 relating to small companies. The mernbers have not reqUId the company to obtain an audrt in accordance with section 476 of the Companies Att 2006. The trustees acknowle(Ige their responsibilities for complying with the requirements of the Act with respett to accounting cord5 and the preparation of accoltnts. These account5 have been prepared in accordance with the prtsvisions applicable to cornpanies subjett to the small companies regime. On behalf of the board Ms Gema Glover Trustee 3110712026 The note5 on pages 8 to 13 fomi part of these financial statements. Page 7
Sanibel Foundation Notes to the Financial Statements For The Year Ended 31 March 2026 l. General Information Sanibel Foundation is a company lirnited by guarantee. Incorporated in England & Wale5, registered number 07037120 and registered charity number 1133652. The re9iSterÉd Offi ¢s 11 The Shrubberie5. George Lane, London, El8 IBD. 2. Accounting Poli¢i¢ 2.1. Basis of Preration of Financial Statements The financial 5taternerit5 have been prepared under the Companies Act 2006 and in accordance with the chare5 statement of Recomrnended Pracknce (Charities SORP IFRS 102}l and Financial Reporting Stanéard 102 IFRS 1021. The finanaal statements are drawn up on the histori(al cost basis of accountingi as rnodffied by the revaluation of investments. Saftibel FounéatioTh is a company limited by guarantee and has rKs share capital. Its reoistered tsffio is at 11 The Shrubberies. George Lane, London E18 IBD. The company 15 a registered tharity. 5aThibel FoLtndation Is a Public Beriefit Entity as defined by FRS 102. The financial statements are preapred in Ste19. whith is the fvncbot)al currency of the charrty- Monetary amounts in these financial ststements are rounded to the nearest £. 2.2. Incomlng ReBources Voluntary incorne and donatlofis linduding Iqgaciesl are accounted for orKe the charity has enttilernent to the income. it is probable the income Will be received, and the amount of income receivable can be Teaéily measured. The income from fundraising 15 shown gri>ss. the assoaated costs induded in fundraising (Dsts. Where rnaterial a55ets are d¢nated to the company for ts 5. these are captslised at the e5timatd market value at the date of the gift and are induded under income. Assets given for ISisLribution by the charity are received as income when distributed and stated in the accounts at the dirertots, estimated market value at the time of receipt. Investmènt Income and any a550ciated tax credits is indusjed in the financial statsrnerbts when rqtsivable. 2.3. T•ngibl FIX AB•ets and Depre¢i•tion TaTrgible fixed assets are mèèsured at tost le55 accumulated depreciatyoft and afiy accLtmulated impairrnent Icsse5. Depreciation is prcvided at rates calculated to write off the cost of the fix awts. less their estimated residual value, over their expECted useful lives on the folktwino bases." Compute¥ Equipment 33% on cost 2.4. lftvestments Those quotes on a recognised strKk exthange are at matket value and other Investrnts are included at trustees, best estimate of market value. All gains or losses are taken to the Statement of Finanaal Acbvities and included In net income for the year. 2.5. Cash and Cash Equryalent• Cash at bank and in hand includes cash and short terni hJhIY liouid investments wrth a short matyjrity of three month5 cr less from the date of opening of the deposit. 2.6. Finanaal Instrnmert The charity only has financial assets an¢J liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are initially recognised at t$3nsartion value and Subsequently rneasyred at their 5ettlernent value. 2.7. Taxatlon The charity is exempt from tax as all it's income 15 choritable and appli1 for charitable purp05e5. 2.8. Provksions and Contingend** Creditor5 and provision5 are recognised where the charity ha5 8 present obligation arising from a past event that will probably result In the transfer of funds to a rhird party and the arnount due to settle the obligation can be measured or estimated reliably. Creditor5 and provisions are reco9nised at theii Settlement arnount. Page 8
Sanibel Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2026 2.9. Charltsble Artivltles Expenditure is accrued as soon as a lialHIty in conSered prbab. sjisctyjntsd to present value for longer term The majority of costs are directly attributable to speafic aLtivr(iÈs. Staff ctssts are allocated on the basis of time spent by staff on each activity. Office costs. induding governaTh c1>5t5, are charged ijirectty to the activity when incurred. 2.10. Restrieted fund These are funds vlhich are restricied when given by the donor as to the purpose for whith they can be used. The trustee5 are cbliged to follow the donoVs Yiishes or return the monies to the donor if they are unable to do so. 2.11. UThre¥tri¢ted fund8 Unrestrirted fund5 are given free of any rE5trithon by the donor and are to be used by the trustees in accordance with the obiect5 of the charity generally. 3. Investment Income 2026 2025 Unrestricted Unre•trictd funds funds Bank interest re1vable 465 476 35.079 Diviéené5 from investments 32.718 33.183 35.555 4. Other Inme 2026 2025 Unrestricted Unrestricted nd lund Other income 4.452 5. Analy#l8 of Exp•ndltur 2026 Grant Adivities funding of undertaken activitie directly (see note 61 (see note 71 Support Tot•1 Raising funds 63,727 83.501 6,540 153,768 2025 Grant A¢tl¥lti•• fvndlng of ndertaken •ctivities directly Isee note 61 (see note 7) Support Total Ra1sing funds 59,343 56,570 6.104 122,017 Page 9
Sanibel Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2026 6. Grants Payable 2026 2025 Grants to Gr•nts to Inrtitutions Instrtutions Raising funds 83,501 56,570 Grants paid to tnstitutions. included above. are as follows= 2026 2025 Wlnorush Valley Amateur Boxing Club- I grant 8uckir¥gham Boxing Club - 3 grants North Mersey Arnateur Boxing Club- l ornnt Rayne Arn8teur Boxing Club - I grant Mercia Boxing Club - I grant England Boxing Various grants averhill Amateur Boxing Club- I grant ome Counbes Boxing - I gTrTht Marden Amateur Boxin4 Club- l orant RSngcraft Amateur B(pxing Club - I grant The Fort Boxing Club- l orant 5,000 26,570 12.000 3.000 10.000 37.651 15,000 2.850 3,000 15.000 10.000 83,501 56,570 7. Support Co#ts 1026 Raising funds Employee costs General administration 994 4,196 1,350 Governance costs 6.540 202S Raising funds Employee costs General administration 1,902 2.812 1,390 Goverllance tosts 6,104 Page 10
Sanibel Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2026 B. Independent Examiner'$ Remuneration 2026 2025 Independent examination of the fifiancial statements 1.350 1,390 9. Staff Costs staff cost5 were as follov4S= 2026 2025 Wages and salarie5 Other pension costs 13.168 44.896 10.583 47.896 58.064 58.479 No ernpbyees received ernployee benefits (excludlng ernployer penson c05t51 for the repDrting period of more than £6D,QOO. 10. Average Number of Employe*s Average number of emplcyees during the year was.. I 12025.. 11 11. T•ngible Asset¥ Computer Equipment Cost at l April 2025 14,209 As at 31 March 2026 14,209 D•preciation As at l April 2025 14,209 A5 at 31 March 2026 14,209 Net Book Value As at 31 March 2026 As at l April 2025 12. Investments Listed Cost or Valuatio As at l April 2025 Disposals Kevaluations 1,236,725 1104,8261 34.784 As at 31 March 2026 1,166,683 Pro¥lJio èt l April 2025 As at 31 March 2026 .CONTINUEO Page 11
Sanibel Foundation Notes to the Financial Statements (continued} For The Year Ended 31 March 2026 Net Book Value As at 31 March 2026 1.166,683 As at l Aprfl 2025 1.236.725 13. Debtors 2026 2025 Due within one ye•r Other debtors 159 161 14. Cr•dltor: Amounts Falling Dwe Withln One Yr 2026 2025 Accruals and deferred incorne 13.250 2.750 15. Novemnt in Fund¥ As •t i A1 2025 A••t31 Expenditure March 2026 Income Unre¥tri¢ttd fund General.. Genernl unrestricted fvnd 1.268.154 33,183 1118.984) 1,182.353 T*)t•l funth 1.268.IS4 33.183 1118.9841 1.182,353 As at i Aprfl 2024 As•t31 Income Expendlture March 2025 Unrestricted fund• Genetal.- General unrestricted fund 1,336,056 40.007 1107.9091 1,268,154 T4>tal fund• 1.336.056 40,007 1107,9091 1,26B,154 untrICt4 funds as at balarKe sheet date indudes a revaluation reserve of £380.774 {2025= É380.9571. 16. Transactions with Trustees None of the trustees received any remuneTrtion or any other benefits from an ernployment with the charity or a related entity during the current or previous year. No trustee èxpenses have been incurred. 17. Related Party Dixlosure5 There have been no relatèd party transactions in the reporting period that require disclosvre. Page 12
Sanibel Foundation Notes to the Financsal Statements (continued) For The Year Ended 31 March 2026 18. Company limited by guarant¢¢ The cornpany is limited by guarantee and has no Share capital. Every member of the tompany undertakes to contribyte to the assets of the company. In the event of a winding Upi such an amount as rnay be requsred not exceediThy £1. Page 13
Sanibel Foundation Detailed Statement of Financial Activitie5 (including Income and Expenditure Account) For The Year Ended 31 March 2026 2026 2025 Total fvnd8 Total lund INCOME AND EPIDOWMENTS FROM: In¥e$tments Dewslt Actount Interest received Diviéends received 55 68 32,663 465 35,011 476 Bank interest receivable 33.183 35.555 other other ineome 4.452 4.452 33.183 40,007 EXPENDITURE ON: Raising funds Investrnent rnanagement costs Wages and salaries Pension 14,806) 113,1681 144.8961 18371 183,5011 1201 13B21 16121 17521 1171 12741 13061 1471 11,8801 1920} 11,350) 110,5831 147.8961 18441 {56.5701 1201 13491 11.5531 11.2161 iiooi 12041 13381 1351 19191 Insurance Grants to institutions Bank charges Staff training Stsff expenses Computer costs Admin costs Professional books and jouma15 Telephone Data protection Accountancy and legal f8es Busines5 Development Independent examine¢s fees 11,3901 1153,7681 1122,0171 1153,7681 1122,0171 NET EXPENDITUttE BEFORE INVESTMENT LOSSES 1120.5851 182,0101 Net o•ins on investments Surplus on disposal of listed fixèd asset investme•ts Fair value deficit on revaluation of investrneThts 34,967 1831 30.949 116,8411 34,784 14.108 NEf EXPENDITURE 185,8011 167.9021 Page 14