Charlty reg15tratlon number 1182155 Company reglstration number 11464054 IEngland and Walès) THE SHANLY FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE SHANLY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru$teÈs T M Btsolh N J Young T J Poller M J Shanly D A Tucker Charlty number 1182155 Company number 11464054 Registered office Sorbon AWesbury End Beaconsfield Buckinghamshire United Kingdom HP9 1LW Auditor Henlon & Co LLP Northgale 118 Norih Slreel Leeds West Yorkshire LS2 7PN
THE SHANLY FOUNDATION CONTENTS Page Trusl805' repori Ind8pendent audilorfs repori Slalemenl of financial activilies Balance 8hè81 ststement of cash flows Ntsles to the financial 81816ments 10-18
THE SHANLY FOUNDATION TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 The Iius188s who are also directors ol Ihe Foundation lor Ihe purposes ol the Companles Act 2006, Psent Iheir report with the liiiancial slaleinenls ol Ilie thaiity lor Ihe year ended 31st Deceinbei 2023. Th8 aeoounls have bèen prepared in awordance wllh the accounting policies sgt out in Ihe notes lo the financial slatemenls and comply wilh thè chaillvs Memorandum and Artides ol Association, applicable laws and the requiretnenls ol the Slalemenl ol Recommended Praclise applicable lo Charities preparing Iheii aecotinls in accoidance with the FinanrAal Reporting standard appli¢alAe in the UK 8nd Repiibli¢ ol Ireland IFRS 10211s3ued Ill October 2019. Objectivos and actlvllies The Foundation aims lo support causes Ihal help indlvlduals and benefit the local community, Includlng support lor young people from dlsadvanlaged backgrounds, the hom818SS, those with mental bèallh issues and people wllh In shaping the objective$ of the organisation, Ihe Iiuslees have paid du• regard lo the Charily Commission's guldance on public benèfit. Invèstment pollcy Under th8 trust deed the Foundation has the power lo make any inve$ltn8n15 which th& Iruslees shall in their absolute discrellon think fil. Grant maklng The Foundation invites application5 for funding of local charitable causes. In partleular, the Foundation welcomes applicanls that are h81plw (o improv8 welfare and qualily of life ol those that are disadvantaged withln Ihe community. The applications are reviewed by the Iru81ees 8nd lunds made avallable at the absolu18 dlscrellon ol the Foundation. Achlevemenls #nd performance harltable acllvitles During the year the Found81ion prlmarily supported local caus98 Includlng schools, communlty groups, sportiog groups, soclal and community events, iotary clubs and registed charities. There are also a number of organisalion5 Ihe charity 8UPPOrts on a regular long-lerm basis. Flnanclal reviow Prfnclpal fundlng Sources During the year the Foundallon primarily received eorporale donallons of £1,284,8(K) whh can be used in accordance wilh the obleclives ol the chaiily. The donation was used by Ihe Foundation lo fund grant payments and related costs amounting to £1,786,480. The nel resources expended in Ihe year resulled in 8vAilable year-end funds decreasing from £3,210,9fj3 to £2,831,943. Reservé$ pollcy 1159 the policy of tha Foundation lo mainlaln unreslri¢led funds, which arg the free reserves of the foundallon al a level which enables the Foundation lo meet ils managemenl and admlnlslration Costs and lo bts able to respond to pproved applications for granls which ar15e from lime lo time. Plan$ for future perlod3 The Foundation's future plans are lo continue lo support causes Ihal help benefit the local communily Including 8UPPOrt for young peoplè from dlsadvanl8ged backgrounds. tho homeless and those ¥th mental health issues. structure, governanee and managembnt GoveYniThg documènt The Shanly Foundation was aslablished as an unlncorporaled ¢harily in 1997 Icharily numb8r 10650441. In 2018.11 updated ils legal gtructure and r8glslered as a company limited by the guaranl8es of its members lo a maxlmum of £10 ea¢h l¢ompany number 11464054 and chailty number 11821551.
THE SHANLY FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Re¢rultment and appolntmeiil of new trusleps The Foundation may appoinl new Iruslees by ordlnary iesolullon il the person is willing lo acl as a Iruslee and determine Ihe rolalion in which any additional dire¢tor$ are lo Fell. The appoinltnent ol a Iru81ee musl nol cause the number of trustees lo exceed Ihe maxirnum number ol Irustees pei thè Artlcles olAssocialion. Related partie3 The Foundallon ha8 a very Close relationship with ihè Shanly Group which provides lundlng to enable Ihts charlly lo carry out ils charitable objectives. Thèse companies include Sorbon Inveslm8nls Llmiled and Sorbon Group Lirniled which ale under the conlrol ol M J Shanly, a Iruslee ol the charily. Webslte www.shanlyloundalion.eom Incorporatitsn The charitable company was incorporated on 13th July 2016 and ¢ommenced lo operate on 1st July 2019. Statement of Trustèas, responsibilitles The trustee5 (who are also the dlrectors of Th8 Shanly Foundalion for the purpose5 01 company lawl 8r6 responsible lor preparing the Truslees, Report and the financial slalements in awordanee with appliGablè law and United Kingdom Accounllng Standards {Unlled Kingdom Generally Accepted Accounting Pra¢1[). Company law 18quires the truste8s to prepare financial slalemenls for each financial year whlch glve a true and falr view of the stale ol affairs of the charitable company and of the incoming resources and application ol resources. Including the income and expenditure. of the charitable company for that perlod. In preparing those financial slalemellls. the Iruslee3 are required to Select sullable accounting policies and then appty Ihern conslstènlly.. Dbserv8 the melhods and piinciples in Ihe Qhaiily SORP., make judgements and estimates that are reasonable and PTud6n(' prepare the financial slalefflenls on the going concern basi$ unless It Is inapproprlate to presume Ihal thè charitable company will Continue in buslnèss. The Iru5tees are responslble for keepSng proper accounting records whlch disclos8 Wlth asonable accuracy al any Ilme the financial positlon of Ihe charitable company and to enable them to ensure Ihal the financi81 $lalern&nts comply with Ihe Companies Act 20(6. They are also responslblo lor safgguarding the assets of the charitable company and hence for taking reasonable st?ps for the prevention and detectlon ol fraud and Dlher Srregulariiies. In so far as the Irusle6s are awar8'. there is no relevant audit information of which the charitable company's auditors are Unawa., and the Iruslees have taken all sleps that they ought to have taken lo make themselves aware ol any relevant audll Informalion and to establish that the auditors are aware of thal informallon. Auditor The auditor5, Henti)n & Co LLP, wlll be proposed for re-appoinlmenl al the lorth¢oming Annual General Meeling. Name of trustees who manage the charlty T M Booth N J Young T J Poller M J Shanly D A Tucker Ideoeased 17 May 2024} Sin¢e the end ol the year the Tru81ees 3r8 sad to report th8 dèalh ol Don Tuck8r who was a long standing tiuslee of thè charity.
THE SHANLY FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Approved by order of the board of truste8$ and si9ned by.. M J Shanty Trustee Dale..
THE SHANLY FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE OF THE SHANLY FOUNDATION Opinion Vve h8ve audited the financial slalemenls ol Thè Shanly Foundalion Ith8 'charitable companVI lor Ihe year ended 31 Decembei 2023 which comprise the slalemenl ol Financial Aclivlties, Ihe Balan sheet and the Slalemenl of Cash Flows and notes to the financial slalements, includiiig signSfi¢anl accounting policie5. The financlal rèporting framework Ihal has been 9pp1i8d in their prep3ralion is applicable law and Uniled Kingdom Accounting Slandard5. ii)cluding Fln8ncial Reporting Slandard 102 Tlie FlnanGial Reportlng Slandaid applicable in th6 UK aiid Republi¢ of Ir81and Iunited Klngdom Generally Accepted Accounting Practice). In our oplnion, th8 1Snancial slalements.. glve a true and lair view of the slatè of the charitable companvs affalrs as al 31 Dember 2023 and ol ils incomin9 resources and application of resources, for the year Ihen ended,. have been properly prepared In aecordance wilh United Kingdom Generally Accepted Aceounllng Prydcllce., and have been prepared In accordants with the requirements of the Companles Act 2006. Basls for Dplnlon We condueled our aud1l In accordance with International Standards on Auditing IUKI IISAS IUKII and appli¢able law. Our responsibilities undor those standards are furthei d&s¢ribed in the Aurlitoffs responsibilill6s lor the 8iidlt of the finan slal8menls section ol our repori. We are independenl ol Ihe charllable company in accordance with Ihe ethical qUirementS that a relevant lo our audll ol Ihe financial statements in the UK, including thè FRC'S Ethical standard, and we have lu5filled our other elhi¢al responsibilities In accordance wilh Ihese rfrqulremenls. We believe that the audil evidence we hav6 obtained Is suffldenl and appropriate lo provide a basis for OUT oplnlon. Conclusion$ relatlng to golng concern In auditing the financial slalement5. we have concluded thal Ihe Truslees. use of the going eon(*rn ba$ls of accounling in the preparation ol the financial statements18 appropilale. Based on the work wè have performed. we have not idgnlified any matèrial uncgrtainlies relating lo events or condilions that, illdividua15y or colleclively, may cast signiliGant doubt on the charitable company's ability lo continue as a going concein lor a period of al least twelve monlhs Irom when the financial slatemenis are authorised lor issue. Our responsibililles and the responslblllt18s 01 the Trustees with SpeCt lo going concern are described Sn Ihe rèlevant seelions ol this r8POrt. other Infoymatlon Th6 other information wmprlses the informalion Induded In thé annual report other than th6 Ilnancial 8la18m6nls and our audilor's report Ihereon. The Irusle8s are responslble for the other informalion contained within the annual report. Our oplnSon on the financial 518tèmen15 does not eover thè other inloitnalion and we do nol express any form ol assurance conduslon Ihereon. Our responsibility is lo read the other information and, in dolng so, consider wh8lher the other Information Is malglially Inconsistenl with the financial slatemenls or our kriowledge oblalnèd in the course of the audlt. or othewlse appears lo be materially misstated. If we identSly such maleilal Inconslstenciès or apparent material rnisslatemenls, we are required to determine whether Ihls glves rise to a malerial misstatement in the financial statements themselves. 11, based on the work we have perforrned, we wnclude that ther8 is a material mlsslatemenl ol thls other information, wo are reqvlred lo report that lad. We havg nolhlng to report In this regard. Oplnl005 on other matt8rs prescrÉbèd by the Companles Act 2006 In our opinlon. based on the work undertaken in the course of our audit.. the InlormaliDn glven in Ihe Trustees, report lor the fingncial y8ar for which th8 financial statements are prepared, whlch includes Ihe dir8dors' report prepared for Ihe purposes ol company law, Is conslslenl with the financial slat8menls'. and the dlrèGtors' report induded within the Trustees, report has bèen prepared in accordan wilh applicable legal requiremgnls.
THE SHANLY FOUNDATION INDEPENDENT AUDITOR'S REPORT {CONTINUEDI TO THE OF THE SHANLY FOUNDATION Matter$ on whi¢h wg arg required to report by &x¢gPtion In Ilie light ol Ihe knowledge and uiidersl8nding ol Ihe charllable company and ils environment obtained In Ihe COUf88 of the audil, we have not identIed materbal m5sst8lemenls in the Trustees, Report. We have nothing lo report In respect of the followlng mallers where the Companies Ael 2006 requires us to Teport lo you il, in our opinion.. adequate accouiiling r8cord8 have nol been kept or returns adequate for our audit have not been rèc&lv6d from branches not visited by us.. or the Iruslees were not entitled to take advanloge ol the small eompanles exemption from the requirement lo prepare a Slialegic R8POrt or in preparing the Trustees, R&porl', or the flnanclal 51alernenls are not in agreement wilh the accounling records., or we have not received all the informatlon explanatlons We require for our audll. Responsrbilities of tru$tee$ As explai118d more fully in Ihe Slalemenl of Tr¢Jstees' Respon51bililie8, the Iruslees, who are also th8 direclois of Ihe charitable company for the purposes of oompany law, are responsib for the prepaialion ol the financial slalements d for being satisfied Ihal they give a Irue and laii view. and for sucli internal control as the Iru8lees determine is necessary lo enable the prepaialion ol financial slalemenls that a Iiee from material misstalemenl, whether due lo fraud or eiror. In pi8paiing the financial slaloments, the Iruslees are rtsspon8ible for assesslng the ¢harllablo cornpany'8 abilily lo continue as a gohg toncem, disc105ing, 95 appli¢8ble, matters related to going concern and using the going concern basis ol ac¢ounling unless the Iiustees ellhtsr in18nd lo liquidate the chaiilable company or to C8ase operalions, or have no rèallstic allernalive bul lo do so. Audltorfs responslbllltles for tho audlt of the financial statements Our objectives are lo obtain reasonable assurall about whether the linanclal stalemenls as a whole are free from material misstalément, whether due lo fraud or error, and lo issu8 auditor's report that ineludes our oplnion. Reasonable assurance is a high level ol assuiance bul is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always deleel a material misslalement when il exisls. Misslalemenls can arise from fraud or error and are considered material If, Indlvldually or in the aggregate, they could reastsnalAy be gxpected lo infiuence the econoTlliC decisions of users taken on the basis ol these financial stalemenls. The exlenl lo whlch our procedures are capable of delecling irregLlai511Ès, Including Iraud. is detailed below. Audit procedures undertaken in response to the potential risks relating l01118gularilies (which include fraud and non- compliance with laws and regulalionsl comprised ol.. enquiiies ol Iruslees, management and those Charged with governance conceining any actual or polenlial liligalion or claims,. inspection ol ielevant legal corresponden¢8', review of board minule5'. lesllng the approprlaleness of Journal entries,. and the performance of analytical review lo Idèntify unexpe¢led movemernls in arKounl balan$ which may be indicative ol fraud. We discussed with the Iru51ees and olher management Ihg policies and procedures regardlng compliancè wllh laws and regulations. We identified laws and regulatlons in planning our work and Ihe audit team w&re briefed lo be alert of any Indications of non-comp11ae Ihroughoul the audit. The chaiily 15 subject lo laws and regulations that directly affect th8 financial slalements, including finalldal reporting and iaxalion legislalion together wSlh other opèi811gnal a$pe¢ls such as health and safely, eTnploymenl law and requirements under the General Dala Proteclion Regulation. We assess th8 exlenl ol compliance wllh these laws and regulations as part ol our audit procedures. Thè potelllia5 effect ol these laws and regulations on the financial stalemenls varles conslder8bly. Auditing standards limit the requir8d audit procedures lo Identify non-complianeè with these laws and regulations lo enquire of tha Iius188s and other management and Inspecllon of r6gu181ory and legal corrèspondence.11 any.
THE SHANLY FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE OF THE SHANLY FOUNDATION No instances of tnalerial non-compliance were idgnlified. However, the likelihood ol delecting irr6gulari118s. including fraud, Is limited by lh8 Inheienl dilli¢ully in deleoling irregularities. th& effectlven9ss ol Ihe charily's controls. and the nature, litnlng and exlenl ol Ihe audil procedu$ performed. Iiregulaiilles Ihal result Iiom fraud mlghl b8 Inher8nlly morg diffKull lo delecl Ilian irregulaiilies that r8suII Irorn error. As explained above, Iliere is an unavoidabl8 risk that material misslaleménls may nol be delecled, even Ihough the audil has been plallned and perfoimed in accordance will) ISAS IUKI. We ale not 185ponsible lor preventing non compliance and cannot be expected lo delecl non- compliance with all laws and regulalions. A further de8crlplion ol our iesponsibilities is availab18 on Ihe Flnancial Reporting Council's websile al.. hllps'.11 www.Irc.org.ukJaudllorsiesponsibililles. Thls descriplion forms parl of our audilo¢s reporL Use of our report This report is rnade solely lo the charity's Ifus196s, as a bocty, in accordance with part 4 01 th& Chaililes (Aecounls and Report51 Regulallons 2008. Last year, our audilorfs pOrt was in accordan with Chaplei 3 of Part 16 of the CompaTrles Act 2006. Our audll work has been undertaken so that we mlght 51ale lo Ihe charity's Iruste&5 those allers we a required lo slate lo them in an audKor's r@pDrt and for no ollier purpose. To the fullest extent permi119d by law. we do nol accept or assume responsibilily lo anyone other than the chaiity and the charity's Iruslees as 8 body, lor our aiidll WDrk. for Ihis report, or lor the oplnlons we have formed. Ralph Sears (Senior Statutory Audltorl for and on behalf of Henton & Co LLP Chartered Accountants statutory Audltoy Northgate 118 North Street Leed5 Wèst Yorkshire LS2 7PN
THE SHANLY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestricted fund$ funds 2023 2022 Notes In¢ome from: Donations Inveslmènls 1,284,614 122,896 1,250,120 36,539 Total income 1,407.510 1,286,659 Ex enditiire on.. Raising funds 57,763 46,287 Charitable a¢livilies 1.729,137 1.306,364 Total expenditure 1,786.900 1,352,631 Net expenditure for tha yearl Net movement in funds 1379,3901 165,9721 Fund balances al 1 January 2023 3,210,913 3.276,885 Fund balances at 31 DoC8mber 2023 2,831,523 3,210,913 Continuing operation$ All income and expenditure has arisen from continuing activities.
THE SHANLY FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notos Currertt assots Debtors Cash al bank and in hand 10 67,209 3,079.239 23,639 3,551.519 3,146,448 3,575.158 Credltors: amounts falling due withln one year 11 1251,925} 1326,163) Net Curienl assets 2,894,523 3,248,995 Creditors: amounts falllng duo after morè than one ygar 12 163,000} 138.082} Net assgts 2,831,523 3,210,913 Income funds Unresiricled fund 2.831,523 3,210.913 Total funds 2,831,523 3,210.913 The company is 8nlilled lo the exetnption from ihe audit r8quirern8nl oonlalned in section 477 01 th8 Companles Act 2006, for the year ended 31 Decembei 2023, allhough Mn audlt has been c8rrlod out under section 144 of the Charllles Act 2011. The directors acknowledge their responsibllilles for complying wilh the requlremenig of the Companies Acl 2006 wilh respecl lo accounllng records and the prepaialion of finanuBI slalemtnls. These financial slalemenls hav8 been prèpared in accordance wllh the provisions applicable to eompanles sublècl lo the smdl CDmpanles regime. The linan¢ial slal8menl$ We approved by the Board of Tiustees and aulhorised for Issu9 on wer igned on Its behalf by: and T M Booth Trustee M J Shan5y Tru$t•• Company reglstratlon number 11464054
THE SHANLY FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from opeiating actlvltles Cash absorbed by operation5 15 1595,1761 16,9241 Investlng activlties Investment Income received 122.896 36,539 Net cash gènerated from Inve5tlng activities 122,896 36,539 Nel cash us•d In financlng a¢tlvltles Nel114ecreas¢llincrease In cash and cash èqulvalents 1472,2801 29.615 Cash and ca8h equivalents al beginning of year 3,551.519 3,521,904 Cash and cash equlvalents at end of year 3,079.239 3,551,519
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polleles Charity informatlon The Shanly Foundation is a pilvale company limited by guarantee incorporated in England and Wales. The regisl8r8d office Is Sorbon, Aylesbury End, Beacon8field. Bucklnghamshire, HP9 ILW, United Kingdom. 1.1 Accountlng convention The linaricial slalemenls have been prepared in accordance wilh Ibe Charilies.. Slalemenl of Recommended Practi applicabl8 lo ¢harilies preparing their 8ceounls In acoordance with the Finai)¢lal R8poriing Slandaid applicable in the UK and Republic of Ireland IFRS 1021 (issued in October 20191- (Charilies SORP IFRS 1021. Ihe Financial Reporting Slandard appli¢8ble in th8 UK and Republic of Srèland (FRS 1021 and Ihe Companies Act 2006. The Foundalion Conslilules a pybllc enllly as defined by FRS102. 1.2 Golng con¢ern Al the lime ol approving the flnancial slalemenls, the Iruslees have a r985onable expectation that the Foundation has adequate r8souic85 to eontinuo in opeiallonal 8xislence lor Ibe loieseeab18 fulure. The Foundation thereloiè conlinues lo adopt the going conc8in basis in prepailng 115 financial slalemenls. 1.3 Fund accounting Funds held by the Foundation ar& unrestrleled income funds, whlch the Irusleès are free lo use for any purpose In furtherance of the charitable obje¢ls. 1.4 Income All income is recognised when tho Foundalion is legally enlilled lo 11 att8r any performance conditions have been mel, the amounls can be tneasurod reliably. and it is probable that income will b• received. Donations are recognlsed when they h8vè been communlcaled as received in wrftlng with nolifiealion ol both th8 amount and selllemenl dale. In the event that a donation is subj8Ct lo conditions that require a level of performance belorg the chaiily is entilled to the funds, th& In¢ome is dèferred and not recognised unlil either those condilions are lully m81, or the lulfilmenl ol those conditions is wholly within the control of tho Found8llon gnd11 is probable that those condilions will be fulfilled in the reporting period. Interest on funds held on deposit is included upon noiificalion ol the interest pald or payablg by the bank. 1.5 Expendlture Expenditure Is accounted for on an accru81s basis and has been classified under head1ngs that aggregate all cost relaled lo the category. Llabililies are recognised as expenditure as soon as Iheie is a legal or consliuctive obligation comtnilling Ihe Foundation to that 8xpendilure, il is probable that selllemenl will be requlred and the 8rnounl ol Ihe obligation can be me88ured reliably. All expenses. ineludlng support costs and governanoe are alloc8ted or apportioned lo the applicable expendilure headings In the 5talemenl ol financial aclivi11g5. Irrecoverable VAT is Charged as a cost 8galnsl thè activity for which the acliwly w85 Incurred. Grants payable are payments made to third parties In the furtherance ol the charitable obleclivos of th8 Irusl. Grants payable &re ¢h8rged Sn the y8ar when Ihe offer is ¢onveyed to the reciplenl excepl those cases where the offer is conditional, such grants being iecognised as expenditure when the colldilions altached are lulfilled. Grant award8 that are subj9Ct lo th8 re¢ipient lullilling performance ¢ondilions are only accrued when Ihe iecipienl has bèen notilied of the grant and any remalning unfulfilled condilions allached lo that grant are outside ol the control ol the Foundation. The expenditure on charltablè activlli8s Includes grants mad¥, governanoe w51s and support oosls. 10-
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng pollcie5 Icontlnuedl 1.6 Cash and cash eqii5valents Cash at bank and Cash In hand includes cash and Short term hlghly Ilqtjld Investments Ihal gie ieadily convertible lo known amounts of ¢ash and ale subj8cl lo an insignificant risk lo Changes in value. 1.7 Flnanclal Instruments The Foundation only has finan¢ial a55e15 and finaiicial liabililies 01 a kind that qualify as basi¢ financial inslrumenls. Basic financlal In5trutn8nls are initially recognlsed al Iransacllon valu8 and subsequenlly measured at amortised cost using the effective Interest rnelhod. 1.8 Debtor Tradg debtors and olher debtors are i6gnISed al the selllemenl amount due after any trade dlseounl offered. Prepayments are valued al lh8 amount prepald nel ol any trade dlscounl due. 1.9 Credltors and PTOV1510llS Creditors and provisions ar8 recognised where the Foundallon has a presanl oblloailon resvlling from a past event that will probably result in the Iransler of funds lo that third party and the amount due lo sellle Ihe obligation ¢an be rnea5ured or 6Stimaled r81iably. Creditors and provision aro normalty Fecognised al Ihelr selllemenl amount after allowing lor any trade discounls dua. 1.10 Taxatlon Th8 Foundation is a regislered charity and accordirvJly 1$ exempl from laxalion on ils income and galns where they are applied lor eharilab18 PUIP088S. 1.11 Retirement benefSts The Foundalion operates a defined conlribulion pension scheme. Conirlbullons payable lo Iha charitable company's pension scheme a charged to the Slalgmenl of Financial Aclivilie8 in the period lo whlch they relate. 1.12 Chaiitable actSvltles The expendilufe on charllable aotivlt18s Includes grants made, govemance cosls and support costs. 1.13 Members liablllty The liability of the members is Ilmiled lo a sum of £10 being the amount Ihal each membor undértakes lo onlrlbule lo the assets ol the charlly In the evenl of the Found81Ion belng wound up. Crltlcal 8ccoLriitlng g8limales and judgements In th6 applicallon ol Ihe chaTlly's accounting pollcles, the trustees are required lo make judgernenls. estimales and assumptions aboul the carrying arnount ol assets and liabililies Ihal are not readlly apparent Iiom ollier sources. The eslimales and assodaled assumptions are based on hlslori¢al exporienee and olher factors that are wnsidered lo be relevant. Aelual resu115 may differ from Ihese eslimales. The eslimales and underlying assumptions ale rewewed on an ongoing basis. Revlslons lo accounting eslimales are reeognisod in the period In which the estimate Is vISed where the revision affects only that period, or in the period of the viSIon and lulure p&iiods where Ihe revision affects both current and lulur6 periods.
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DEGEMBER 2023 Donatlons 2023 2022 Gorporale donallons Other donalions 1,284.300 1,250,000 314 120 Income from Invèstments Unrestrfcted Unrestrlcled funds funds 2023 2022 Interest re1vable 122,896 36,539 12-
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Grant5 payable 2023 2022 Grants lo inslilutions.. British Ukranian Aid Berkdey Foundation Disasleis Ernergency Cotnniillee Challerbus CIO Duke of Edinburgh (The Award Scheme Ltd) FLind8cja Happy Kids Jumbulance Tiiist Kings College. London Maidenhead Food Sha Maidenhead Rowing Club Maidenhead United FC Cotnmunity Trust Malling District Scoul Council Mallow & Dislrict Schools Boalhoiise Marlow Town Council- Christmas lights Meals Itom Mallow No.5 Oulwaid Bound Trusl Reading UniveTsiIy Royal Horti¢ullural Souely SATRO Save The Children Sayers Croft South Downs Nalional Paik Trust STCF PhllanlhropyAccount Thames Hospice Thames Traditional Boat Rally The Amber Foundalion The Children's Trust Thomley Ac11vily Centre Volunteer11 Youisell CIC Wallingford Aw8gsibl8 Boat Club WESG Scout Group Windsor Christian Action Wndsor Lions Other grants lo inslilulion5 10.000 10,000 20,000 25,000 30.000 30,000 15,000 10,750 8,582 10,CQO 2,500 10.0(M) 10,000 10.000 10,000 10,000 10.000 18,600 25,000 5,000 25,000 15,tM)O 10,000 10.000 B4,870 i 0,000 5,651 20.000 15,000 50,0(M) 7,500 8,750 200.000 96,CM)O 10,000 10,000 25,000 10,000 35,500 12,050 20,000 10,0 45,000 820,161 110,0001 1,209,586 1,729,136 1.306,364 13-
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable Icgnlinuedl An analysis ol grants by nalure ol project being supported is as follows.. 2023 2022 Communily Disabllily Edueallon Health & Welfare Wildllfe & Conservation 1,213,600 102,861 168,954 224,922 21,000 871,306 91,670 153,970 182,418 7,000 1.729,138 1,306,364 During the year, amounts paid lo individuals lolalled £Nil. Support cost$ allotated to activittes Total 2023 Total 2022 Staff Costs Sundiies Advertising Bank charges Insurance Catering costs foi charity event Goveri)aii¢e 32,713 30,937 40 3,764 212 355 3,258 7,701 8,385 146 1,632 6,067 8,820 57,763 46,267 2023 2022 Governance costs comprise.. Audit fees 8,820 7.701 8,820 7.701 Net movement in funds 2023 2022 Th@ net movernent in funds is slated after ¢hafgingllcreditingl". Fees payable for the audit of the chaiity's financial 51alemenls 8,820 7,701 14
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Employees The average monthly number ol employees during the yeaiwas.. 2023 Number 2022 Number Admln staff Employment costs 2023 2022 Wages and salarles Sooial security oosts Olher pension costs 29.183 2.726 804 27,475 2,658 804 32,713 30,937 There were no amployeès whose annual rernuneralion was more than £60,000. Tru$te&s' remuneratlon and beneflts There were no Irust8e's retnuneialion oi other benefits for the year ended 31st Decernber 2023 nor for the year end8d 31sl tkcember 2022. TTUStee'8 pxpen$es There were no Iruslees. expenses paid lor the year èndÈd 3181 December 2023 nor lor the year end8d 3131 Decemb&r 2022. 10 Debtors 2023 2022 Amounts falllng due wlthln onè yèar., Other debtors 67,209 23,639 11 Cradltors.. amounts lalllng du8 wlthin one year 2023 2022 Olh6r (axallon and soclal securlly Grants payable Accruals and deferred Income 640 242,885 8,400 613 317,690 7,860 251,925 326,163 16
THE SHANLY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 12 Credilors: amounts falllng due after mora than oiie year 2023 2022 Grants payakAe 63.000 38,082 13 Ultlmate conlrolllng party The Ljllimale conliolllng pariy is nSId6r0d lo be M J Shan5y. 14 Related party tronsactlons Transactlons willi related parties During the year Ihe corporate donations recelvable lo Ihg charily were as follows.. 2023 2022 Sorbon Group Llmlted Sorbon Inveslments Limited 1,250,000 34,300 1,250,000 1.284,300 1.250,000 q5 Cash generated from operations 2023 2022 D8fiat lor the year 1379.390) 165,9721 Adjustmen13 for.. Investment income recognised in slalemenl of finandal aclivslies 1122,8961 {36,539) Movetnenls in working capital.. Ilncreasel in debtors ID8creasellincrea89 In ¢ditor8 143,5701 149.320} 112.3441 107.931 Cash absorbed by operatlons 1595,1761 16,924) 16-