Docusign Envelope ID." 7As98E5E-013￿BS&8F7￿322E1S8Ds6AA REGISTERED IN ENGLAND REGISTERED CHARITY NO 1136390 SHUTTLEWORTH CHARITABLE TRUST ANWAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Clenshaw Minns Ltd Chartei'ed Accountants Docusign Envelope ID: 7A598E5E-01334B5&8F7A-322E158D56M SHUTTLEWORTH CHARITABLE TRUST tNFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees E BoiEars (Chair) L Parker E Ni-charthaig L Russell Charity number 1136390 Principal office 17 Elizabeth Drive Necton Swaffham Norfolk PE37 8ND Accountants Clensliaw Minns Chartered Accountants Norfolk House 24 Market Place Swaffham Noi'tolk PE37 7QH Bankers CAF Bank 25 Kings Hill Avenue West Malling ME19 4JQ Solicitors Fraser Dawbams Myriad House Batholoinew's Walk Ely Cambridgeshire CB7 4EA Docijsign Envelop¢ ID: 7A598E5E-01334858-8F7th322EI 58D56 SHUTTLEWORTH CHARITABLE TRUST CONTENTS FOR THE YEAR 31 DECEMBER2024 Page Ti'ustees, annual report Independent exaiiiiner's report Stateinent of financial activities Balance sheet Notes to the financial slatements Docusign Envelope ID.. 7A59BE5E-01334858-8F7A-322E158D56AA SHUTTLEWORTH CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution Tlie Trust is an unincorpoi?ted registered charity, numb¢r 1136390 and is constituted under a Trust Deed. New trustees ore appointed by the existing trustees and serve for three years after which they illay put themselves forward for re-appointmenl. The Trust Deed provides for a miniinuin of three trustees with no maxiinum. Tlie Twstees are aware of the inforination within the Charities Conimi.ssion gliides: 'The Esseiilial Trustee, and 'Charities and Public B¢nefil' They are also awar¢ of tlic objects of oui. cliarity. We look at all funding requests witli this in mind. The Ii'ustees Ineet at least twice a year. All IrLtstee5 give of Iheii. tiine freely and no trustee i'emunei'ation was paid in the year. £197.00 was paid in Irustee expenses this repoiting period. Trustees al'e required lo disclose all i'elevaiit inleiEsls and withdi'aw fi'oill decisions where a conflict of intei'esl arises. Tliere were no new graiits in Ihis repoiting pei'iod where a conflict of interest arose. Risk Management Tlie trustees have considered the major risks to which the charity might be exposed and have reviewed those risks &8 follows: The Truslees liave previously mentioned Ihat our income is almost entTI'ely dependent on SIILittlewoi%h Pi'operty Management Company Limited (SPMC) or rental income I'eceived direct, The Trustees will continue to Inanage commitinent to grant awards by reviewing tliese against current incoine or funds available from SPMC. With regard to Ilie property and land owned by the Trusl, there conlinues to be a risk that maintenance costs may be higher thali rental income or that a tenant may default on rent payinenls. This year rental income exceeded maintenance costs by £7,11 O. Tliere wei'e no l'ent ai'rears at our year end. Oui, major operational I'isk is the exlent to which grants awarded Inight successfully advance the education of, i'elieve the sickness of oi. preserve the health of individuals in need. We manage tliis risk by pei'sonally meeting applicants for ongoing fiinding (usually via Zoom). we ask foi. siiilable evidence to establish financial andlor health need and tlie individual's pi'evious ability to apply iheiiiselves to benefil from edLication. Most one-off grants are funded in collaboratioii with otliei. charities and tliis continues to be a successfLiI way of workin As noted previously SCT lias a Risk Manageinent Policy. Tlie main w'eas of concern continue to be.. Limilation of Tiustee back-up and lack of knowledgel skill to run tl?e charity in the event of tliei'e beiiig a loss of Ti'ustee due to resignation or long terni illness. Being a sinall charity i'un by the foul. trijstees, this will always be an area of concem. We have not taken foi'ward the idea to ci'eate a volunteer i'ole, &8 we do not feel there is sutTicient work to create a fulfilling role at present. Docuslgn Envelope ID.. 7A598E5E-013348W8F7A-322E158D56AA SHUTTLEWORTH CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Aims & Objectives The objects of the Trust are: To advance the education of individuals in financial need. The relief of sickness and preservation of health foi. those in financial need. The i'elief of financial hardship, either genei'ally or individually by Inaking grants of money for providing or paying for iteins, services or facililies. Tlie caveat foi. all the objects ts "whei'e ihis need CilTU]Ot be met by the iiidividual or itnmediatc fainily" Wheii making Lyranls, we are invariably inaking them to individuals duc to the nature of the objects, However, Ihet'e is no restriclion on the number of people who can apply for fiinding Our limitations are only defined by tlie geographical areas of operation and funding available to suppoi't grants. MHin activities for achieving objectives Tlie Ti'ust cari'ies out these objects by: Funding ediication in varying forins whether acadeinic or vocational. where the cost of thal education is not free to the recipienl and where the cost cannot be inet by the iiidividual or their iinniediate family and particularly if there is also no Governinent grant fiindiiig available. We have also considered applications wheir grant funding is insufficient to covet. costs, extra fiinding is needed as a i'¢sult of physical health conditions oi. whei'e mental health issues mean that extra suppoit is needed and to ensure tlie individiial can fully take advaiitage of il)e education proposed and will not drop out diie to stress or financial need duiing the course. Fiinding equipment for tliose iii financial need whether this is specialist wheelchairs or laptops for those witli dyslexia oi. other equipment we Inay be approached to supply. Many of these i'equests com¢ via other Charities and we are able to quickly see tlie benefits to the individuals and tlieii. iminediate family. Making grants to individuals to relieve financial hai'dsliip. Our experience of this to date is liinited but applicants often have complex h¢8lth issues that have led to tlie fTnancia hardship and the b¢nefit provided by a small grant can be immensc. ACHIEVEMENTS AND PERFORMANCE Tlie Inain achieveinents by the charity are: Tolal Grant paymenls of £12,871. We coinplcfed luiidiiig foi. Miles, BA hoiiours degite in television production, who lias now stllited a car¢¢r in the USA. We continued to work witli Handicapped Cliildren's Action Gi'oup (cliai'ity no. 1015438), a chai'ity that raises funding to pay for equipment and tlierapy foi. childiEn. We pix)vided funding for 5 specialist buggies/ pushchairs. We pi'ovided funding for a laptop for Taniffj to support an Open Univei'sity coui'se in Language Studies, Docuslgn Envelope ID.. 7A598E5E-01334858-8F7A-322E158D56AA SHLrrTLEWORTH CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Total donations in 2024 were £8,500, witl) £l.000 received from Tlie Masonic Ch￿'it￿ble Foundation and £7,500 1'eceiv¢d from SPMC. The donations from SPMC were less than previous years as we were a150 able to fund some grants froin SCT'S own I'ental iiicome. Total closing account balances at year end wer¢ £5.151 (includes an early rent payment of £575 due 11112025). LAnd and Property owned by the Trnst Approximately 7 acres of Land at Bradenlwn rented to a local farmer. 231 Lovell Gardens, Watton- rented on an AST 17 El izabeth Drive Necton Swaffham - this is the Office for both Shiittleworth Charitable Trust aiid Sliuttlewortli Property Manageineiit Company Ltd. 3 Old Fire Station Court, Paradise Road, Downhain Market - rented on an AST. Reserves pollcy Tlie Trust has not specified any dedicated reserves iii the cui'rent accounting period. We havc held reasonable balances in our bank accounts and continue to operate on tlie basis tliat gi'ants al'e Inet by available funds or by a transfei. fi'om SPMC. No commitinent is Inade without knowing funding is or will be available lo meet that Gominitmenl. PLANS FOR THK FUTURE Future developmenls The Charity plans to continue its activities for the foreseeable future. DECLARATION Tlie Trustees declai'e that tlry have approved the above trustees, report. Docuslgn Env8lop8 ID.. 7A598ESE-013348S8-8F7￿322ElSBD56Al SHUTTLEWORTH CHAIUTABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Signed on behalf of the charity's trustees: SignatuiE(s) A4)C4 fj2594￿.- Full name(s) E Borgars Position (e.g. Secretary, Chair, etc) 13-10-2025 Date 13-10-2025 DDcusign EnvelDPO ID: 7A59BE5E-0133485&8F7A.322E158D56AA SHurrLEWORTH CHARrrABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 I repoi't to the charity trustees on Iny examination of the accounts of the charity for the year ended 31 Deceinber 2024 whicli set out on page 6 to 9. R￿ponsibilItieS and basis of report As the charity's trustees you al'e responsible for the preparation of the accounts in accordance vith the i'equii'ements of the Chai'ities Act 2011 ('the Act,). I report in respect of iiiy examinalion of tlie cliarity's accounts carried out under section 145 of the Act aiid in cairying out my examination I have followed all Ihe applicable Directions given by the Charily Cominission under section 145(5)(b) of tl)e Act. Independent examiner's statement I have completed my examination, I confirm that no material matters have come to my atiention iii connection with the exam ination givii)g Ine cause lo believe tliat in any matei'ial respect: accounting records were not kept in respect of the cliariiy as required by section 130 of the Act, or tl)e accounts do not accord with those records. or the accoLints do not comply wilh the applicable requirenients concerning tlie forin and content of accounts sel oiil in Ilie Charities (Accoui)ts and Repoi'ts) Regulations 2008 otlier ihan any requireinei)t that the accounts give a 'true and fair view, wliicli is not a matt¢i' considered as parl of an independeiit examination, I have no concei'ns and have come across no other Inatters in connection wilh the exainination to wliicli attenlion sliould be drawn in this report in order to enable a proper understanding of ilie accounts to be reached. Gavin Minns Cliartei'ed Accountant Clenshaw Minns Ltd Noi'folk Hou 24 Mai'ket Place Swaffliam PE37 7QH IS. 10.2w&g Docusign Envelope ID.. 7A598ESE-01334858-8F7A-3f2E158056AA sFtUTTLEWORTH CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Total rund5 2024 Total funds 2023 Unrestrieted funds Notes Incoming resources Income fi'om: Reiilal income Donations i'eceived Othei. iiicoine 18,228 8,500 844 18,228 8,500 844 16,907 12.500 668 Total incomlng resources 27,572 27,572 30,075 Resources expended Dii'ect charitable expenditiire Prop¢i1y I'epairslmaintenance InsLlI'ance Accountancy Bradenliain Field costs Legal & Professional fees Bank cliai'ges Ti'i15tees Expenses 12,871 4,601 2.166 1,134 5.784 12,871 4,601 2,166 1,134 5,784 8,905 17,828 929 1,068 3,090 77 60 202 60 197 60 197 Total resources expended 26,813 26,813 32,159 Net Ineomel(expendlture) 759 759 (2,084) Revaluations 316,895 Net movement in funds 759 759 314,811 Total funds brouglit forward 2,966,037 2,966,037 2,651,226 Total fiinds cari'ied forward 2,966,796 2,966,796 2,966,037 Slatement of Total Recogllised Gains or Losses Tlie Charity liad no recognised gains or losses other than the above income for tl)e financial ye￿. ended 31 Decembei. 2024. Docuslqn Envelope 5D.' 7A598E5E-o13348￿BF7A-322E158D58A￿ SHUTTLEWORTH CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 Tolal funds 2024 Total funds 2023 Notes Fixed assets Tangible assets 855,000 855,000 Investments 2,107,220 2,107,220 Currenl assets Cash at bank and in hand 5,151 4,367 Creditors: amounts falling due wlthin one year (575) (550) Net current Assets 4,576 3,817 Total assets less curitnt liabilities TotAI net assets 2,966,796 2,966,796 2,966,037 2,966,037 Total charity funds Unresti'icted fiinds 2,966,796 2,966,037 2,966,796 2,966,037 13-1 ￿2025 Tlie financial statemeiils were approved by the Trustees on . and are signed on its behalf by: nod by. 8lyMd br- Trustee . 2Tr45tr..•............. Trustee . Tlie notes on pages 8 to 9 form part of these financial stateinents. Docusign Envdope ID.. 7A598ESE-0133485UF7A-322E158DS6AA SHurfLEWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ineome Unrestricted UnrestrReted Funds Funds 2024 2023 Land Yents Propeity rents Donation Otl)er income 648 17.580 8,500 844 162 l6,745 12,500 668 Net income 27,572 30,075 Charitable Expenditure 2024 2023 Dlreet Costs Gi'ants 12,871 8,905 12,871 8,905 Tangible fixed assets Land & pyopei.ty TolAI Valuation At l Janliary 2024 Addilioiis D&5posals 855,000 855,000 At 31 December 2024 855,000 855,000 Depreciation At l Januai'y 2024 Depreciation eliminated on disposal Charg¢ foi. the year At 31 Deceinber 2024 Net boolc value At 31 Deceiiiber 2024 855,000 855,000 At 31 December 2023 855,000 855,000 Docusign Envelope ID". 7A598E5E_01334858-8F7A_322E158D56AA SHUTTLEWORTH CHARITABLE TRUST NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investments 2024 2023 Shuttleworth Propcrty Management Coinpany Ltd 2,107,220 2,107,220 2,107.220 2,107,220 Cash at bank And in hand 2024 2023 Cun'eiit account 5,151 4,367 5,151 4,367 Cliarity funds 2024 Opening funds Net Inovement in funds for tlie period Revaluation reserve- land and buildings Revaluation itseive- investments 2,966,037 759 Closing f(Inds 3,283,690 Closing funds shown above are lield on trust and in accordance wilh tlie I'estrictions coiitained in the Charity's Trust Deed.