Sheldoni¥ Charltable Trnst Clmrlty No. 1180427 Trustees, Report and Unaudtted Accounts 30 September 2024
Sheldonla Charitable Tntyt Contents Pages 2to4 Tn55tees' Annual Report Independent Examlnerfs Report ststement of Flnancial Actfvlties Balance Sheet Notes to the Ac¢ounts 8toll Detalled Statement of Flnanclal Activitles Page I
Sheld•)nla Charitsble Trurt TNstees Annual Report The trustees present thelr report with the unaudited financial statemeDts of the charity forthe yearended 30 September 2024. REFERENCE AND ADMINlSfRATIVE DEfAILS Ch•rlty No. 1180427 Trusteos The followlnB trustees serrfed durlnz the year. J.D. Boyd N.8. Harrls P.G.E. Sheldon A¢¢•yfit•nts PolSod( Attountlng Ltd 3- 4 Sentlnel Square London NW4 2EL OBJECTIVES AND AcnvmES Objectlves and •lms The purpose of Sheldonla Charttable Trust1Sheldonla CT.,) Is set out In the Object dause of Its 8overnln8 document dated September 2014: to advance such charltable purposes laccofdlng to the laws of En8land & Wales) as the trustees see fft fftyn tlme to tlrne. Thls ObSect achleved by maklTr8 8rants In accordance wlth Sheldonb• CT.'s Grnnt Maklna Pollry d•ted October 2018 whlch states that 5heldonlJ C.T. does not Inlend to operate its own charitsble acllvltles, to provlde any charltable actlvftles of Its own, or lo provide dlrect grants io indlvlduals or groups of indlvlduals Irrespertlve of whether mJkln8 such 8rants woukl accord wlth Sheldonla CT.'s Object. Rather. Sheldonia CT. wlll only provlde grants to charltles who are registered wlth the Charfty Commlsslon of England & Wale5, the Charbty Commlsslon of Northern Ireland or the Office of ihe Scottlsh Chèrlty Relulator. The trustees subsequently clarlfied that In addftlon 8rants may be made io chaTllles that have exempt status a5 specifle In Schedule 3 to the Charltles Act 2011 tx whkh are made exempt other le8lslatlon, e.8. Foundatlon, Voluntary and Academy Trust xhoob. The Grant Makln8 Polky further prothdes thattrustees wll conslder maklng grants to promote the followln8: - Allevlatlon of poverty. - Provision of Care and a55tst*nce to the elderty, Infimi and / or n0n-abItrtIed. - UndertakSng of medical research to cure di5ea5es and alleviate human sufferl - Educational institutiOn5, Includln8 sthools, and Èducational initiatives. - The practke and promotlon ofjudalsm am0 Jewish people for the benefft of the wblk In accordance wlth the belief that obseryance of ihe Jewlsh rellglon and engagernent in Jewish communlty Ilfe promotes ethical behaviour, enriches the lives of Jews and contribute5 to the impr(Nement of the workl for a55 its Inhabitants. Pa8e 2
Sheldonia Charltable Trust Trustees Annual Report - Countering ant15emltlsm in all Its duises. - Safeguardlng of children and Vulnerable adul - PromOtn of ethical behaviour In IsIness. The trustees confirm that they have had regard to the guidce ksued ty the Charlty Cornm10n on publlc benefft. ACHIEVEMENTS AND PERFORMAN gnfficant actfvftiès During the year the trustee made grants from Sheldonia CT. to tharftles amountlng to £81.35912023: £70,110) in accordance wlth its Charltable Objert and Grant MaklnE Policy. An analysis of the activity of those charities 15 provlded in the Statement of Financial Activities. All grants made were to registered or exempt chadtles in the United Klngdom and all grants were to the recipients. unrestrirted funds. The tr115tees intend to continue investing into the portfolio. to rnonitorthe perfomiance of the portfolio and to manage risk monltoring the allocation between asset dasses held in Ane with the Investment pollcy. FINANCIAL REVIEW Inwslment perfomkince During the year. Sheldonla C.T. recefvd rentsl inc(The of £46.76512023: £55,680) from its portfollo of investment properties in Brighton which are managed usin8 a local agenL The net rental yield after assoclated fees was 12.2% based on the curreni valuat. The trustees intend to continue Investing into the portfolio, to monitor the perforniance of the p)rtFollo and to manage risk by monltoring the allOcatK between asset classes held in line with the investment policy. The trustees antkipate that holding a mlx of Investrnent property and Ilsted investment funds will generate higher return than available from deposits. The tTustees consider this will contribute to the ongoin8 ablllty of Shehlonla C.T. to distrfbute funds to grantee charities in aOrdan with its Grant Making Policy. The trustees contlnue to pursue a FlIcY of distrfbutlng substantially all of the Income arising on Its Investment assets by making grants to recipient charities. The trustees currently adopt a conservative polkv in dlstributing realised and unrealised gains on the listed investment portfolio. Financlal position Sheldonia C.T. has propertles held for rentsl Income vthich are valued at £382,418 (2023: £382.4181. As at 30 September 2024. Sheldonia CT. held listed investment funds with a market value of £395,24712023: E363.1851 and bank deposits of £156.76412023: £17L8231. The trustees considerthe financlal position at the end of the period to be satisfactory. The trurtee5 have not committed to maintainln8the level of reseprfes in all ta5es and wouid be prepared to accept a diminutlon in reserves ocosloned by making grants in excess of income over annual perk)ds where there was a perceived Specific benefrt to reciplent charities from doirE 5a However. the trustees currently regard the main assets originally recer¥ed from the estate of Mr Harris Sheldon to be lon8 terni reserves somewhat akln to capital and seek to maintain the value of these for the present. although Iluctuations in value can be expected due to chan8e5 in the value of investments In marketable secufftles and investment properties. Pa8e 3
Sheldonla Charltable Trust Trustee5 Jmnual Report Takln8 the property assets at aequisltion value and investment fund5 at market value together with bank deposlts. the total reserves at 30 September 2024 amount to £934,66712023: £917,426). sTrucruRI GOVERNANCE AND MANAGEMENT Go¥ernlng document The charlty Is controlled by Its governing document, a deed of trust and constitutes an unincorporated charlty. Recrultment and appolntment of new trustees Trustees are selected based on thelr knowledge and experlenee, Includlng professlonal experlence, of flnancial matters, of g¢x)d governance and of charltable affalrs as well as an assessment of thelr Inte8rlty. New trustees are appolnted by ihe current trustees a5 and when thls15 deemed approprlate. Name oltruslees holdlni tltl¢ to property bek>n8ln4 to th• tharlty. The re8tstered tftle to the propertles held for rental Income Is In the lolnt names of the three trustees who hold the propertles on trust for the beneflt of the charlty. stst•ment ol trustees, responslbllltles In Yel•tlon to the Iln•ncW rtatements The ¢harlty trustees are responslble for preparln8 a trustees, annual report and flnanclal slalements In accordance wlth appllcablelow and Unsted Klngdom A¢ntIng Standards Iunlted Kln8dom Generally Accepted Accountln8 Practlcel. The trustees are responslble for keeplng proper accountlng records that dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the charlty and to enable them to ensure that the flnanclal statements comply wlth the Charltles Act 2011, the appllcable Charltles (Accounts and Reports) Regulatlons, and the provlslons of the Trust deed. The Trustees are also responslble for safeBuardln8 the assets of the charlty and hence taklng reasonable steps for the preventlon and detectlon of fraud and other Irre8ularltles. Slgned on behalf of the chadty's trustees P.G.E. Sheldon Trustee 17 Aprll 2025 Page 4
Sheldoni7 CharitslAe Trust Independent Examlners Report Indèpendent Examlner's Report to the tru5te¢s ol Sheld(w Charllable Tn I report to the trustees on my examinotlon dthe financial statements of Sheldonia Charitable Trust for the year ended 30 September 2024. Responslbllltie5 and basi5 of rnp As the charity's truslees you a responsible for the preparatM)Th of the fwwncial ststements In accordance wlth the requlrements of the Charities Act 2011 Ilhe Act,). I report in respect of my examinatlon of the tharity's financial ststements carried out undersection 145 of the 2011 Act and in carryin8 Out my examination I have folknwed all the applkable DirertSDns Biven bythe Charlty Commission undersection 145151Ibl of the ACL Independent examlnePs statement I have completed my examination. I can conflrni that no material matters have come to my attention in connection wlth the examination glving me cause to believe that in any material respect: . the accounting records were not kept in respect of the tharity a5 required by sedion 130 of the Att; or • the finandal Statements do not accord wlth those records; or • the financlal ststements do not comply with the applicable requirements COnmIng the forni and conteni of flnènaal statements set in the Charities (Accounts and Rewtsl Regulatlons 2(M)8 other than any requirement that the financial statements give a rue and fairf view %thich Is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no other rnatters in connectlon with the examination to whlch attentktn should be drawn In this report in ordef tt> enable a proper understanding of thefinancial statements to be reathed. David Pollock FCMA Chartered Institute of Management Accountants Pollock Accounting Ltd 3- 4 Sentir¢el Square London NW4 2EL 17 April 2025 Page 5
Sheldonla Charitsble Trust Ststement ol Financial Activi Unrnstrlcted fvnds Totsl funds Totsl fvnds 2024 2023 Ineomè and endowmu Investments 98.630 98.630 57.889 Total 98.630 98.630 57,889 Expendllure on: Charbtable actryltles 81,389 81.389 70.110 Total 8L389 81.389 70,110 Net movement In funds 17.241 17.241 112,2211 ftecoficiliation of funds: Total funds broueht fotward 917.426 917.426 929,648 Ttjtsl funds carrled forward 934.667 934.667 917,427 Page 6
Sheldonla CharitableTntst Balance Sheel at 30 Sèptember 2024 Ch•rfty No. 1180427 2024 2023 Flxed assets Investments 777.665 777,665 745.602 745,602 Current assets Cash at bank and in hand 157.002 157.002 157,002 171.8Z4 171.824 171,824 917,426 Net ¢urrent assets Total assets less current Ilabilitles Net assets excludlnE pen51on asset or Ilablllty Totsl net assets 934,667 934,667 917.426 934.667 917.426 The funds ofthe ¢harlty Unrestrlrted funds General funds 934.667 917.426 934,667 917.426 Reserve5 Totsl funds 934,667 917,426 Approved by the trustees on 17 Aprll 2025 An d on thelr behalf by: P.G.E. Sheldon Trustee 17 April 2025 Page 7
Sheldonla Ctable Tntst Notes to the A¢munts for the year ended 30September 2024 l Accounting pofKie5 Basls ol preparallon The finandal statements have been prepared in accordance with Ststernent of Recommended Prartice: Accountln8 and Reporting by Charities preparing their attrnts in accordance with the Financial Reporting Standard applicable in the UK and RepublK rf Ireland IFRS 1021 i4sued on 16 July 2014 and the Flnancial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Att 2011. Change ln bs1s of w¢wiTht1 or to pvwdllxs •¢tyiThts There has been no chan8e to the acc(wnting p)licles Iwdluation rules and method of accounting) sln last year and no chan8es have been made to accounts for previous years. Fund a¢tIng Unrestrirted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the dlIty. Inwme Recognition of incorne Incorne is induded in the Statement of Finantial Actlwitles ISOFAI when the dwrity becomes entitled to. and reasonably tertain to receive. the income and the amount of the income can be measured with suffKient reliability. Income wtth related Where income has related eXperlture the income and related expenditure 15 expendlture reported gross In the SOF Investment Income Thts is included In the accounts when recelvable. Gains111055e51 on Th15 includes any 8ain or1055 both reali5ed and unreal1 on the sale of investment assets investments. Expendlture Rect)gnltlon of expenditure Expendlture is recLYdnised on an accrnals basls. Expendlture includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates. Expendlture on These comprise the costs incuned by the Charfty in the delivery of its attivitie5 charitable activltles and services in the fvrtherance of its objects. including the making of grants and Grants payable All grant expenditure 15 attounted for on an actual paid basls plus an accwal for grants that have been apwoved by the trustee5 at the end of the year It not yet paid. Taxatlon The charfty ts exempt from lax on Its charitable actlvlties. Investment pro Investment properties are measured Inlualty at cost and subsequently at falr value at each balance sheet date and are not deplated. All gains or losses are tsken to the Staternent of Financial Activltles as they ar. Pa8e 8
Sheldonl• CharitsbleTntst N¢)te5 to the Accounts Cash and cash equl¥alents Cash and cash equfvalents cOMpe cash ai bank and on hand. demand deposits wlth banks and other short-term highly Ilquid investments with orEinal maturities of three months or le55 and bank overdrafts. In the ststement of financial position. bank tr4erdrafts are shown within borrowinBS or current Ilabilittes. 2 St•tement of Hn•ndal Aetlth. funds Totsl funds 2023 2023 Income ind endowments Investments 57.889 57,889 Total 57.889 57.889 Expendlttsre on: Chadtsble actlvltles 70.110 70.110 Totsl 70,110 70.110 Net In¢om• 112.2211 112,2211 N•t In¢ome beforn othqr BalNI{losses) Oth•r i•lns and lojses: N•t m0Ment In lunds 112,221) 1112211 112.2211 112.2211 fteeoncllS•tlon of lunds: Total funds brought fon*ard Tot•1 funds rrI•d foYw•rd 929.648 929.648 917.427 917,427 3 lfiwme from Investments Total Totsl 2024 2023 Rents recefved 46.765 15,470 4,333 32.062 98,630 46,765 15.470 4.333 32.062 98,630 55.680 15.427 L318 114.5361 57.889 Dlvldends received Interest received Chan8Ès In market value Page 9
Sheld(mia Charilable Tftt Notes to the 4 Expendlture on th•ritable acl1¥it5 Totsl 20Z4 Totsl 2023 Expendlture on choritoble artlvltles Grnnts made 8L389 81.389 70.110 81.389 81,389 70.110 5 An•ty51s of 8r•nts Grants to A¢d¥lty or proyamme Total 2024 Totsl Soclal Care 17.254 21,324 17,254 21.324 5.779 12.371 2.442 16.440 100 10.500 14,640 1,100 11,220 Supportln8 Chlldren Preseryatlon of Ilfe Communltysupport Educatlon support Medlcal researth 12.371 2.442 16.440 i(xJ 21.950 250 Other Arts & culture 5,679 81,389 5,679 8L389 4.750 70.410 6 stsff costs The charfty has no employees and theref¢)re no staff costs. 7 Investments Cort or revaluatlon At l October 2023 Revaluatlon At 30 September 2024 Net book ¥alues At 30 September 2024 At 30 september 2023 382.418 377.721 17.526 395,247 760.139 17,526 777.665 382.418 382.418 382.418 395,247 371,721 777,665 760,139 Page 10
Sheldonla Charitable Tiust Notes to the Accounts 8 Movement In fvnd5 IncomlnB resources {Includlns At l Ortober other 2023 8alns/loss851 Resources expended At30 September 2024 Unrestrkted funds: Genernl funds 917,426 98.630 181,389) 934,667 Totsl fund$ 9 Analyslj of net •$sets between fvndj 917,426 98,630 181.3891 934,667 Unmirlrted funds Total Investments Net Current assets 777,665 157.002 934,667 777,665 157,IX12 934.667 10 Reronclllatlon of debt At30 Swtember 2024 At l Ottob•r 2023 C•$h flows Cash and Cash equbvalents 171,824 171,824 {14.8221 114,8221 Is7.2 157.002 Nei debt 171,824 114.822) 157,002 Page 11
Sheld¢>nia Charitable Tn Detslled Statement of Rnancial Aclivi for the year ended 30 September 2014 Unrestrlcted fvnds Totsl funds Total funds 2024 2024 2023 Ineome )d •ndowments from: Investments Rent5 recelved Divldends recelved Interest recefved Chan8es In market value 46.765 15,470 4.333 32,062 98.630 46.765 15.470 4.333 32.062 98.630 55,680 15,427 1,318 114,536} 57,889 Totsl Income nd endowme Exp•ndlture on". Charltable aclfvltles Grants made 98,630 98.630 57.889 81.389 81,389 81.389 81.389 70,110 70,110 yal of wendlture on thafitsbl• Actlvltles 8L389 81,389 70,110 Total expendltyre Net 8alns on Imiestments 8L389 81,389 70,110 Net Income/{eMp•ndltuw•l 17,241 17.241 112.2211 Nét Incomellexpendltyre) befor• other Balns/{losses) Other Galns 17,241 17,241 112,2211 Net mowment In funds 17.241 17,241 {12,2211 Re¢on¢lll*kni of funds: Total funds brou8ht foTh¥ard 917.426 917A26 929.648 Total fvnds carrf•d fr>rward 934.667 934.667 917,427 P•8e 12