REGisfERED COMPANY NUMBER: 12096693 (England and Wales) REGISTERED CHARITY NUMBER: J185591 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE VEAR ENDED 31 JULY 21)24 FOR SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) Maxwell & Co 9 Abbey Business PaTk Monks Walk Farnham Surrey GU9 8HT lin *AEIHh8KR• 29ffj4121Y25 QXIPANIES HOUSE 42
susrAINABJLITY. HEALTH..EIYVIROJYMENT. DEVELOPMENT. (SHED) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 JULY 2024 Pge R¢port of the Trwttts Report of ihe Independent Auditor5 Statement of Financial Attivtti 10 BAlantt Shttt 11 to 12 Cash Flow Sttemtnt Iyotes to Ihe Casb Flow StstemeTht 14 Noies io ihe Finanelil Stst¢m¢fjts 15 to 20 Detsiled &alemtJJt of fin#*ei•l AdivSties 21 to 22
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVEiA)PMEIYT. (SHED) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 The Irusiees who a also directors of the charity for the purwses of the Companies Act 2006, pres¢nt their report wirh the financial 5tat¢m¢nts of the charity for ihe year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charilits.. Staterncnt of Remmended Practice applicable io charities preparin8 their accounts in a¢¢ordart¢e with ih¢ Financial ReFx)rting Standard applicable in the UK and Republi¢ of Ireland (FRS 1021 (effective I January 20191. This Report provides an oversi8ht of Sustainability, Hcdhh. EnvironrnenL tkvelopment (SHED) activities in 2023124. SHED Officially registered as a Company and Charity at the beginning of October 2019. OWEcfivES AND ACTIVITIES Ubjettivu and aim$ The Charity aims:. al To promote Susthinable development for the benefit of the public by= i) the preservation, conservation and the proteciion of the environment and the pNd¢nt us¢ if r¢sourc¢s; ill the relief of povwty atKI the improvement of the condition of life in socially and nOmiCallY dISadvanged communilies,. iii) the promotion of sUStain?bl¢ means of achieving eco[C growth and regerteration. Sustainable dev¢lopmeni means "D¢v¢loprn¢nt which rnttts the needs of the present without cornpromisin8 ihc ability of future generation$ to meet their own needs" b) To promoie equality and diversity for the publbc benefit by: i) the elimination of discriminoiion on ihe grounds of race, 8ender, disability. sexual orienttiion or rtli8ion.' ill advancing edu¢ation and raising awareness in equality and diversity- iii) promotin8 activities to foster understanding be¢¢ people from diverse bTKkgwunds' iv) conducting or mIsSiOn1ng r¢5earch on equality and diversity issues and publishing the results to the public. Page I
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) REPORT OF THE TRUSTEES FOR THE YEAR ENDEDJJ JULY 2024 OBJECTIVES AND ACTivfTIES Signifie•nt activities Last yeats SHED TnJst¢e Rep)rt gave panicular focus lo the developWni work of Director Julie Tomlin. Therefore, this year's report shall highlight some of ihe ¢ore dev¢lopment 1Ville5 of Director Chris Erskine. Included the rewrt Is the-. l) Development highlights 21 C105ure of two developme partnerships- ENOUGH in Scthland and ICU in Rofferdam 31 Brief update of remainin8 Program Partnerships NEWBRIEjSAwIDWELLBElNG irt New¢astle and ISOR. UK wide TravelleT nerwork l) Developtnent highlights The etsre themes. wiihin the work of riS ErskTne (co-Director), ort>ii around th¢ interrelationships of environmental justice. migration. asylum and refvgees; socially engaged art and Ihe pm¢esses of gentrification.. m&rginaliDiion and community representation. Setout below are a variety of ggraphiCal and iherne-based partnership that give ath ithsight to Ih¢s¢ activities. li 15 Worth notin8 that the majority of the infortnaiion Includ in this se¢iioth 15 derived from content produced and shayed by the parni¢r or8anisations. Rcadtng Room Network IRRN) is a new collaborativ¢ neThYork where peopl¢ can read. learn. lillen, and share ideas. Th¢ founding partners of ihis nerwork ore Pluro Pres$. RRN is currenily made up of eight partners in Newca511e- Leed$' Manchester. Sheffield," PeteTbortsugh- Cardiff. Southend on Sea; Brighton. Throtjgh linkin8 up with other spaces aCWOSS the county. RRN has Creat a netwo of librnric5 stocked with thought provoking FA)oks. where reading gTDUPS and OPFQrtunilies io med author5 takes place. RRN provides resour¢es and activities thai hop¢ to catalyse ¢reativity. collaboration. and conver5alitin. As well as physical library spaces. RRN open's forums debate local issues ihai affect everyday lives. Taking the lead from thetr cornmunitres. Ihese iopic$ aY in¢lude inequality, the enviFonm¢ni. pr¢wTrous employmeni, LGBTQtr i5SU¢4 structural racism and much more. Siar & Shadow Cinema (Newcastle) 15 a Cmpletely volunl¢¢r-run DIY venue ba5cd in Newca5tlc upon Tyne irb the Northeast of England. Th¢y are an arts. music. cinemi and community Space sel up as a cLM)perative that anyone canioin. They are IK)used in a building that TS communhty owned and built. Sw and Shadow has an 80 seater cinemi 200 capacity musie venue, cafe. library. dark rts)rn. Print rcKTrrn. garden. W0$hop, kitchen. Changing places toiki and an online rddio Station. Their progTamrnin8 Is dedicated io independcni grass-roois culivre. No-one is paid to run the Star & Shulow. There are rhj boss or manager5. just working groups. collective meeting5, consensus d¢¢ision making and a heavy dose of honest disorganizalion. The building is Tun and programmed by its embers alld volunteers. Opus Sheffield is a not-for-profit so¢ial ent¢rprise based in Sheffield, eslablished in 2008. Ows works to ¢oniribvte pstream solulions to ¢omplcx system problems. Thcy do this ihrough strategic partneJships, engaging arts and culture. Tesear¢h, identifying levera8e points and co<reation. Opus incubatc and deploy 5ervi¢e% projects. plarform5. decentralizcd netWOTks and movemtnts proportionate to ihe challenges ahead. Page 2
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. {SHED> REPORTOFTHETRUSTEES FOR THE YEAR EJYDED31 JULY 21124 ORIECTIVES AND ACflVITIES Opus is multidisciplinary. cros5-5ecior and adaptive, working within hyptr-local. rrgional. national and international con¢exls. They work with citizens. communitie5. neighbourhoods. business. voluntary groups, cilits, eampai8ns, research institutions. infrasiructure organizaiions aj governments to address the cniangled ecologi¢o1. social, economic, political arkd culturdl cri515 we collectively far¢. The Other MA {TOMA) Is an ani#•run education model and exhibition Programme based in slthend on S¢a which supports artists who have faccd barriers accessing art edu¢aiion and the'art world.. Our relationship wilh TOMA continues to develop and dttpen. Its 2022-24 ¢4)hort all b¢n¢fLtt¢d from our European residency networks ($pendirtg a collective wttk in France). We plane to deveh)p this wllaboration fijnher but supporting tht new cohort to a thrrt-wttk residency bla¢k with our pamiers in Portugal. Other Cinernas (London) Is a Brent-based project established by the filmmaking duo Turab Shah and Atwa Abur&wa who saw the need ftsr better and mort equiiable ways of film-making. sharing. and education. Seeing these three sirands as inseparable, their work altempt5 to create a vitsl and holisiic aliernative io ihe industy that addresses its racial and class bjws. The work 15 T(KJted in our diverse nebghbouthoods in nothwem U)ndon. some of the most racially diverst in the country but chioni¢ally und¢Tserved in ieThs of culturdl provisions. The New School of the Anthropocene is bom out of a need.The mainstream university hag proven unable and unwilling engage wilh the Condiiion of social crisis and the PTospect of ecological ihw chwxter1 the 21st Century. In eollaboration wilh October Gall¢ry. the New Sch¢x)l offer5 an agile approach higher education, and a radi¢al alternalive to rnarketlsation and arcane specialism. Valuing experimentation through mining the critical-¢Teaiive seam, ¢h¢y hav¢ shaped an interdisciplinary eth05 and a non-hierarchical gaih¢ring of aead¢mi¢$ and students forged in tonviviality and trust.. the means of addr¢ssing th¢ greatul challenge of this. or indeed any. ern. shado {London) is a led community of artists, aciivjsts and writers united in the fight for social jUSii¢e and ¢ollective liberaiion. They believe that those with lived exp¢Tienc¢ of a lopi¢ or injuaice are beu placed to advocate for mcarbingful change within ihat spa¢e'. shado is a platfonn for these people. Shado was also created because they didn'r think there were ewugh platfom)s for differet)i fields w work collaboration towards %)cial justice. ACV ILondon)= is creating a living archive of community Spirit through prinL have supponed both of their published GROWTH & TRADITION GROWTH.. An exploration of the living of connective tissu¢, plant5, decay, nourishment - ecosystem5 of comJnunilies feeding and housin8 those in netd,. and a rneditative observation of the quiet transfomiations we all undergo. every day. TiiADITION". Ilaiin." trader¢l, meanin8 to surrender, to 8ive for safeketping - the theme is as mu¢h about ¢h¢ past and present as li is the future. In ihi5 issue we'll explore how differtnt wmmunities articulate their traditions. while other5 challenge or disTUPi th¢m. Refugee Community Kitchen UK.. Outreach sUprts people in need with highly nuiritious food cooked by hvirtg professionals, Cooks and chefs, workin8 Wlth local communitie5. Using 5UTplus food io serve meals to people irr¢sp¢¢tiv¢ of their situation and needs. RCK regard li importani for to debunk the myth th if you are homeless or in food poverry you lose the ri8ht to receive healthy food that ts5t¢s grcat. So they do our besi to use the freshesi ingr¢dient5, cook everything from scrat¢h and provide the rnost nutriiious and welcomin8 food we can. Page 3
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 OWECTIVES AND ACTIVITIES Hopefvl Solidarities (Brighton) i$ a Collat10t) b¢tw¢en wrtier-ieacher-acttvists artd ¢ommuniry and organi5ations they are part of in Brighion and Hove. In limes of rnuliiple inlerseciing crises. ranging frorn struggles for daily survival in the face of the Covid-19 pandemic. the spirdlling cost of living. ¢liTnate change aTrd the rdcist legacies of European eolonialism, they sttk to explore and work alongside islands of hope. Engaging with membtrs OUT communilies and organi5ations artd other city residents, listening to people's reflecttons on thtlr own Stories in the light of the preseni moment. and seeking io build OD ¢M¢ent solidariii¢s through every day, pracLLcal and cr¢aiive work includin8 writing. film. photography. food. and music. 2) Closur¢ of Partnerships This year saw the closure of two key SHED partncrships. ENOUGH in Scotland and ICU in Rotttrd&m. ENOUGH { https..Ilwww.enovgh.scot4 was ¢stablish¢d in 2019 and be¢am¢ to l¢ading DEGROWTH plaifom In Scotland. It5 activi(ie5 have included confer¢nc¢s' joumal pUblIlon$.. teaching courses. SHED worked very closely with this ENOUGH collective to consider if c105UTe was the appropTiaie direction. These diSSIONS look over 18 months, but all parties a8Teed that due io internal diffcrEntts and ¢ommithients to vlouS be¥ iniliativeg Closure was the appropri covrse of action. ICU Rotterdam was established in 2022 and became the central hub for the re5id¢ncy and Learning Exchange PTogrdm of SHED. During this time the partnership was abk to supw)rt 48 residencies and iniiiated three inlernational Leaming Ex¢han8e5. unfOrtnle1yj this parthership had to be broughi to a premature ending in the Spring of 2024. due to lack of confidence in the Direciorship of ICU. This decision w&$ tsking in ¢onJuncibon of SHED Trusiees and Directors. 3) Program Partner5 SHED Continues hold two Program Partnerships within its wjrtfolio of a¢tivities: NEWBRIDGFJSAWIDWELLBEING in Newcastle- and ISOR UK wide Trdveller network. The p#rtnership with NEWBRIDGEISAWIDWELLBEtNG cortiinues io really thrive. NewBridge Project is an active artist-led comrnunity that sijpports artisis. eknrators. and local communiiies. It produces a public programme that is resptsnsive to the environment in which it exists. and places ¢ommunity-centred, experimental, wllaboY2tiv¢ and socially conscious progrdmming at its heart. This partsjetship Works directly with a ¢ommurtity benefi¢ society arjd Co-operative in the Shieldfield, area of New¢astle called Dwellbeing ond Shieldfjeld Works_ As ¢ommunity members they undtrtake crealiv¢ and socially oriented pmjects which build communty kN)wledge aiKsui th¢ Issues that affect the neighbourhood including - rapid Urban developmeThi. student accomrnodation and lis impxt on residents. 8entrifTrcation. fi)od poverty and social isolation. They explore altemativ¢ models for organising, learning and solidarity whi¢h lead Shieldfield (and other neighbourhoods like it) i(tward s¢lf-rtlian¢e, resilience, and interdependenee. This 15 best captured by the re¢ent film 100 Pwple". Www.1p&)pj¢SlcIdfieId.or8l 100 Peopl¢-. A Portrdit of CExIStenCe is an experimeThtsl feature film-p)rtrait of Shieldfield. a sm811 residential n¢ighEourhood locaied just outside the city centre of Newcasile uwn Tync. Initiated and led by artist Andrew Wilson, this 8mbitious work combine5 scveral conversations beNfeen residents and worker5. diverse in age, ethnicity. and economic background, to ¢r¢ate a complieaied artd mtslti-voiced portrdit of eoexi5ttnce. Once an area of farniin8 and horticulture, Shieldfield was Iraosfornied inio a l$tIlg residential neighbourhood. Today. following its industrial decline. the neighknurhood and its people are establishing an array of straiegies io ¢onne¢t and inspire amidst increasing social arwj economic Predicaments. With an Original score from ¢¢llist Ceitidh Ma¢ and COm)5¢r Anna Hughes. the film is a poetic. funny and often rnoving reflection on our not-IiHli5tanl pasi. prtcarious present, and an everyday collcclive-re515tance.' Pa8e 4
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMEJ¥T. (SHED) REPORT OF THE TRVSfEES FOR THE YEAR ENDED31 JULY 2024 0ECTIvEs AND ACTIVITIES ISOR UK coniinues to suptK)rt people who live dhnically or ¢uliurally nomadi¢ lives in t¢m?s of security. liberty, expression. and free movement. They unite around issue5 that affect all nornadi¢ cultures. They seek the Common grout)d thai can be found throu8h the experiences of culiurnl diversity. Sustainability and low-impact living are fundarnental onc¢rns within th¢ir work. For example. thi5 yf4r they have supp)rt¢d 22 individualsl families to develop and secure the infrastruciure of four sites. This work also enabled people 10 re-enter e4]ulOal dev¢lopmet)L ¢mplgyment re-trainingldeYelopment- legal support for securing new plots. and InfrtructUr¢ constructiort of food sysiems-waier retention systems-toilet 5yStems. STIL4TEGIC REPORT K¢serv¢s policy SHED'S organizaiional infrastru¢tyre is very light, with totsl annual overhe*J Tunning costs of £200,000 {wages,' accounthni fee., office C05ts). SHED Trustce'5 have agreed that it will always ensuff £250.000 a R¢s¢tve Poli¢y at all tirnes. Goirtg Contern During the year. a dortation of £3,500,000 was received by the chariry from its single donor and a second th)naiion of £3 million was also provided as the donor continues LO be suprA)rtive of the charity's aim5 and objectives. The accounts continue to be prepared on the basis that the charity remaitls a going concern. STRUCTUR8. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing &)cum¢n4 a dttd of trusi. and constitutes a limited company. limited by guarantce. a5 defined by the Compani¢s A¢1 21)06. REFERENCE AND ADMINISTRATIVE DETAILS Regi$¢¢r¢d Company number 12096693 (England artd Wales) Registered Charity nurnber 183591 Registered offi¢e 86 Granville Street Peterborough PEI 2QJ TrUte$ Ms B A Ramsey M J Richards Dr K N Marsh Auditors Maxwell & Co 9 Abbey Business Park Monks Walk Farnham Surrey GU9 8HT Pagt 5
SUSTAINABILITY. HEALTH. ENVIRONMENT.- DEVEIA)PMENT. (SHED) REPORT OF THE TRUSTEES FOR THE YEAR £NDED31 JULY 2024 TRUSTEES, RESPONSIBILITY STATEMENT Th¢ trustees {who arc also th¢ directors of Sustsinabiltty. Healih. Envimnm¢n¢. Lkv¢loprnent. for the purposes of Company lawl are responsible for paTin8 the Report of the Trus¢5 and the financial statements in accord)ce with applicable law and United Kingdom Accounting Stsndard5 (United Kingdom Genernlly Aepted Accounting Praclicel. Company law requires the ine¢S to prepare financial statements for each"financial year which give a In and fair view of the State of affairs of the charitable ¢ompany and of the incomin8 resource5 and application of re50urces, including the income and cxpendi1u, of lh¢ charitsbl¢ ¢ompany for that period. In pr¢paring ihos¢ fitwJ¢ial swement5, the twsie¢s are required to select 5uitsble accounting p)licie5 and then app]y them con515t¢ntly observe the Methods and principle5 in the Charity SORP. make judgements and estimates thai are reasonable pnen1- state whether applicable accotsnting srandards have been followed. subjeet to ttny material departures diselosed and cxplaiDed irt ihe financial staiemeni prepar¢ th¢ financial statements on th¢ 80in8 corKern basis unless if 15 inappropriate to presume that the charitable company will continue in busine The trustees are re$ponsibl¢ for keeping proper accountin8 records which disclose with regsonable occuracy at any time ihe financial positiort of th¢ charitable company and io enable them to ensure that the financial statemenrs comply with the Companie5 Act 2006. Th¢y are also resp)nsJbl¢ for safe8uarding lh¢ assets of the charitabl¢ company and hence for taking reasonable 5(eps for the pre¥ention and detedion of fraud and other irreEularilKS. In so far as the trustees tre aw8re= th¢r¢ is no relevanl audit infornation of which the tharitsblt compan$ auditors are 11114ware', and lh¢ tnJuee$ have taken all sieps that they ought io have taken to make themselves aware of any Televant audit ir)fomia¢ion and to estsblish thai the audilors are aware of thai informalion. AUDITORS Th¢ auditors. Maxwell & Co. will be prows¢d for re-apw)intm¢nt * the forthcomin8 Annual General Meeting. Report of the trnsiees. Incorporaiing a str*egi¢ rep)TL appmved by order of th¢ board of trnstre4 as the ¢ompany dire¢tors, on 2410412025 and signed or) ihe board's behalf by.. M J Richards- Trust¢e Page 6
REPORTOF THE INDEPEf4DENT AVDITORSTOTHE TRUSTEES OF SUSTAINABILITY. HEALTH. ENVIRof4MENT. DEVELOPMENT. Opinio We have audited the finan¢ial ststem¢nts of Sustainability. Health. Environment. Development {the charitsble company,) for iht year ended 31 July 2024 which wmprise ihe Statement of Financial Activities. the Balance Sheei. the Cash Flow Ststement and notes to the financial ststements. including a summary of significant accounling liCi¢S. The financial reporiit)g framework thai h&5 been applied in their preparniion is applicable law and United Kingdom Accountin8 Standards (United Ktngdom Generally A¢¢epied A¢couniin8 Prdctice). In our opinion the financial ststements.. give a true and fail view of the stste of ihe charbtable MpanY'S affairs 8s at 31 July 2024 and of its irwming resources and applicaiion of resources. including its in¢om¢ and expendiiure. for the year ihen eTtded- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting P11¢¢.. and have been prepared in a¢¢ordanc¢ with the reqU1Ments of the Companies A¢1 2006. BsiJ for opinio We conducted our audit In aectsrdance with Inlemational btsndords on Auditing (uiij {iSA5 1IfK)j and applicable law. Vur respx)nsibilities under those standards are further described in the Audiiors. responsibilities for the audit of the ftnancial statements sectitsn of our rep)rt. We are independent of the charitable company in accordance with the ethical requirements thal are relevant its our audit of the financial sthtements in the UK. including the FRC'5 Ethical Stsndard, and we have fulfilled our other ethical reSnsibIlItieS in xcoan¢c wilh these requirements. We believe that the audit eviden¢e we have obtsin¢d is sufficient and appropriate tt) provide t basis ftirour opinion. Contlu$ion$ reltlng io golng eoncern In auditing the financial staiemcnts. we have Concled the trustees. use of the going concern basis of accounting in the pr¢paration of the financial 51atements is appropriate. Based on the work we have perfomied, we have not identified any rnarial uncertainties relating to events or Conditions that, individually or ColltivelY. may cas¢ stgnificani doubi on the charitable company's ability to ¢oniinue as a going concern for a peri(xl of at Icast Th¥elve rnonths fnm when ihe financial st¥t¢m¢nts are auihorised for issue. Our responsibiliiies and the r¢sponsibiliti¢s of the trnstees with respect to going concern are des¢ribed in th¢ relevant section5 of this report. Other inf(brmgtion The tTUStees are responsibl¢ for ih¢ other information. The other infornation comprises ihe inforniation included in the Annual Report. other than the finan¢ial y¢m¢nts and our Report of the Independent Auditors thereon. Our opinion on the financial #ements does not Ver ih¢ oiher infomla1ic and ex¢¢pi to the extent otherwise explicitly slated in our r¢pon, w¢ do not exwess any form of &%surance c4)n¢lusiot) th¢Tr. In connedion with our audit of the financial sthiem¢nts, our resp)nsibility 15 to read the other information and, in doing $0, ¢onsider whether the other information is materially inconsistent wilh the financial SLaiem¢nts or our knowledge obtained in the audii or oiherwise appears io be mtriallY missthied. If we identify such Tnaterial incA)nsisien¢ies or apparent material misstaternent5. we are required to deiennine whether this giv¢5 rise io a rnaterial mi$5tatement in the financial sta¢emertlS themselves. If. b&sed on the work we have perforn), we ¢on¢lude that there 15 a material misslat¢]nent of ihis other infomiation, w¢ are r¢quired tty report that fxt. We have th)thing to in this regard. Mtttrs on which we are required to report by exeepiio We have nothing io reFrf)rt in respect of the following rnatters where th¢ Chariiies IAc¢ounts and Reports) Regulation5 2008 Tequires us to report to you if, in ouropinion.. the information given in the Rep)rt of the TruMttS is inconsiswjt in any material respect with the financial stat¢menis' or the ehariiable company has noi kept adequate a¢¢ounting record$" or the financial 5ts1ements are not in agrttment with the accounting rewds and return& or we have not re¢eiv¢d all the infonnation and explanati¢)ns we require for our audil. 8¢7
REPORT OFTHE INDEPENDENT AUDITORSTO THE TRUSTEESOF SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVEinPMENT. RespoTrsibilities of tru$t¢es As explained more fully in the Trn51e¢s' Responsibiljties Statern¢nL the trusie¢s (who are alx> the dJr¢¢iors of the charitable mpany for the purposes of company lawl ar¢ r¢sponsibl¢ for the prepotaiion of the financial staments and for being isfied that they 8ive a true and fair view. and for such in¢rnal control as the I$1¢¢S d¢tennine is n¢¢essary to enable the preparatiOTt of financial sraiemenis that are free from fftaterhal misststement. whether due to fraud orerror. In preparin8 the financial #a¢erncnts. the trus¢ees ore responsible for assessing ihe charitable company's ability io continue &$ a going Concern. dI70$1nS. applicable. rnatters related to going concern athd using the goittg concern basis of accounting unless the trustees either intend to liquidate the ¢haritablt cofflpany or to ¢ease operation5. or have no realisti¢ aliemaiive bui io do so. Our re5POn5ibilitie5 for the 4udit of the fin•nci•l $tsttments We have been appointed as auditors under Section 144 of ihe Charities Ad 2011 and port in accordance with the A¢1 and relevant regulations made or having efft¢t theUnder. Our objectives ar¢ obtain reasonable assurance al1 whdher the financial statements a5 a whole are free from material rnisstatemenl, whe¢her due to fraud or etror, atwj to issue a R¢Fkn of ihe Independent Auditots that In¢ludes our opinion. Reasonable assura¢ Is a high level of assurance, bui is noi a guaraniee thai an audit condu¢ied in a¢¢ordan¢¢ with ISAS (UK) will always deteci a material rnisstatemertt when li exists. Misststements ¢an arise from fraud or error and are considered material if, individually or ih¢ oggr¢gaie, thty could reasonably be expected to influence the ewnomi¢ decision5 of users taken on the basis of these financial SLaments. As part of de518nin8 our audit, we delernincd materiality and a55esscd the risks of material rnisstatement in the financbal stat¢men15, including how fraud may occur by enquiring of managemeni of its own consideraiion of fraud. We also considered wiential financial or otheT pTessLires. opportunity and motivations for fraud. As part of this discussion we identified the iniemal ¢ontrols esthblished io miii8ate risks related 10 fraud or non compliance with laws and regulations and how managemeni monitor these processes. Appropriate prrKedures in¢luded the revi¢w and testing of manual journals and key estimates and judgements by rnanagemeni. Our tesis included agreeing the financial 5tatcrncnts dis¢losure5 to uTtrIyyE supporting documentation aTtd enquiries with management. We did not identify any key audit matters relaiJn8 to iTregulari¢ies. including fraud. A5 in all of our audits. we also addressed th¢ risk of managem¢nt override of internal controls including te51ing jJThals and evaluation whether there was evidence of bias by th¢ $1¢¢$ ihai r¢pres¢nted a risk of m2rial misstsi¢m¢nt dye 10 fraud. Our audit predUreS were designed to respond io risks of marerial misstatement in the financial statements, recognising that the risk of not detecting a material mi5Staicment due io fraud 15 higher than ihe risk of noi detecting onc resuliing from error, as fraud may involvt dtlibernte concealment by. for example. forgery. misrepresentstions oi thr¢Sh collusion. There are inherent limitations in the audit procedure5 perfornied and the further reffloved non-compliance with law5 and regulions is from ihe eveDts and iwansaaions r¢fl¢¢*d in the finan¢ial ststemenw the less likely we are to beme aware of it. Th¢ firn) h&$ complied wth the requirements of ISQMI whilA e4rying the awjit. A further description of our Trsponsibilities for the audil of the financial stateFnents 15 located on the Financial Reporting Council's websiie at www.frc.org.uklaudiiorsresponsibilitie5.This descriprion forms part of our Report of th¢ Independent Auditors. A fijrther dt5CTlPtion of our 5]x)nSIbilItieS for the audii of the rtnancial swements is located on the Financial Reportin8 Council's website at www.frc.or8.uklauditorsre5ponsibililies. This deriPtIOn forms part of our Report of the Independent Auditors. Page 8
REPORT OFTHE INDEPENDEIYT AUDITORS TO THETRUSTEESOF SUSTAINABILITY. HEALTH. ENVIRONfvIENT. DEVELOPMENT. Use ofour report This report is made solely to the charitable company's iwstees, as a btsly. in accordance with Part 4 of the ChaTilies (Accounts and Reports) Regulations 2008. Our audil work has been undertaken so ihai we mighi state io ihe charitable cornpany's trustets those rnatteTS we are required to stsie to them in an auditors, report and for no other pur. To the fullest exleni perniitted by law. we do nol accepi or UMe re5wnsibility io any¢me other than the tharitable company and Ihe chariiable company's truste¢5 as a body. for our audit work. for this report. or for the opinion5 we have formed. ax II&Co asa ditor in terms of Se¢tion 1212 of the Companies Act 21Y16 ey Busi Monks Farn ey GU9 8HT Date.. Page 9
susrAIIYABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. {SHED) STATEMENTOF FINANCIAL ACTIVITIES FOR THE YEAR ENDED31 JULY 2024 2024 Total funds 2023 Total funds Unrexrieted fund Rcstri¢ied nd Notes INCOME AND ENDOWMENTS FROM Donations and le8acies 6 J4SO Investment in¢om¢ 7.OSI To¢91 6 552 051 6 552 051 EXPENDITURE ON Charitgble activities ChaTltable Auivilies JJ59551 3359 4 055.917 NET INCOMEI(EXPENDITURE) 2.99UIXI 2.992.51K) {4.051.125) RECONCILIATION OF FUNDS Totsl funds brought forward W17 96917 4,148,042 TOTAL FUNDS CARRIED FORWARD 3,089417 3 089.417 ThE notes fonn part of these financial thternents Pase 10
susrAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. {SHED) BALANCE SHEET 31 JULY 2024 2024 TotAI funds 2023 Total funds Unre#ri¢ted fund ResiTi¢ied fund Noies CURRENT ASSETS DebtOTS Cash at bank 10 I29 3 09392• 1,029 3.093.920 5,923 137,399 3.094949 3.094,949 143,322 CREDITORS Amounis falling due within one year (5J32) (5,532) (46,40)) NET CURRENT ASSETS 3.089 417 3.089.417 96.917 TOTAL ASSETS LESS CURRENT LIABILITIES 3.089.417 3089,417 96.917 NET ASSETS 3 089 417 3 089 417 FUNDS Unresiri¢¢ed funds 12 3.089417 TOTAL FUNDS 3 089 417 The charitsble Company Is entitled exemption from audit under Sedion 477 of ihe Companies Act 21)06 for the year ended 31 July 2024. Th¢ members have not deposited notice. pursuant to Section 476 of the Companies Aci 2006 requiring an audit of these financial siatemtnis. The truste¢5 acknowledge their iesponsibililies for (a) ensuring that the charitsble company keeps a¢¢out)iing th* ¢omply with S¢¢tions 386 and 387 Of the Companies Act 2006 and preparing financial statements whtch 8ive a tnje and fair view of the state of affairs of ihe charithble company as at the end of each firbancial year and of its surplus or deficit for each finaneial year in accordance with the requirements of Sections 394 and 395 and which otherwise Comply with the rtquirem¢nis of th¢ Companie5 Act 2006 relating 10 financial stattmtn15, 50 far as applicable to the charitable company. (b) These fjnancial statements have becn audtted undcrthe requiremeftts of Seaiort 145 of the Chariiies Act 2011. The notes forni part of these financial ststements Page 11 continued...
SUSTAINABIL'ITY. HEALTH. ENVIRONMENT. DEVEIA)PMENT. (SHED} BALANCE SHEET- continued 31 JULY 20Z4 The financial staiements were approved by the Board of Trusttts and authorised for issue orb 2410412025 and wewe signed Oll 115 behalf by.. M J Ri¢hards- Trustee The noies fomi pan of these financial Sernents Page 12
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 21124 2024 2023 Notes Cash flows frorn operating activiti Cash generated from opeTaiions 2949.47 4 023 325 provided byllused in) operaiing a¢tiviti¢s 2949.470 4023 325> Cish flows from inv¢sting •rtiviti¢s Interest received 7.051 4.792 Net cash provided by Investing aclivities Chgnge in eash esh equivalents in ihe reporting period Cash And t85h equivltnts It the beginning of tbe reporting perifjd 2?56J21 (4,018,533} 137J99 4 155 932 Cash gnd tgsh equivalents #t the end of the rtporting mOd 3093.921) 137399 The notes fonn part of these financial sthtements Page 13
susrAIIYABILITV.. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) NOTES TOTHE CASH FLOW sfATEMENT FOR THE YEAR ENDED31 JULY 2024 RECONCILIATION OF NET INCOMEI(EXPENDITitRE) TO NET CASH FLOW FROM OPERATIJYG ACTIVITIES 2•24 2023 Net incomel(txpendi¢ure) for the reportiffjg p¢riod (as per iht stst¢m¢A¢ of Vtngncial Activities) Adjustments for: Interes¢ r¢¢eived DecreaseJ{increase} in debioTS IDecrea5eyincrease in credito 2.992JOO (4,051,125) (7.05l} 4094 40073 (4,7921 (4,996) Net cash prnvided byllu$ed in) operati0Tr5 1949.470 4.023 325) ANALYSIS OF CHAP4GES IN NET FUNDS Ai 1.8.23 Cash flow At 31.7.24 Net t4$h Cash ai bank 99 2 956 $21 137 2.956J21 3 093 9211 Total ij? 3 093 920 The notes fo part of these financial stat¢m¢nts Pa8e 14
SUSTAINABILITY. HEALTH. ENVIRONMENT. . DEVELOPMENT. {SHEDI NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES Basis Of prepring Ihe finnei*l Matement$ The financial slattments of the charithble Company. whi¢h is a publi¢ benefit enlity under FRS 102, have been prepared in a¢cordance with ihe Charities SORP (FRS 1021 'A¢coun¢ing and R¢porting by Charities= Statement of Recommended Practice applJ¢abl¢ charities preparing iheir accounts in acwrdan¢e with the Finartcial R¢p)rtinB Standard applicabk in the UK and Republic of Itelartd {FRS 1021 (effective l January 20191,. Financial Rep)rting Standard 102 The FÈnancial Rewrting Standard applicable io the UK and Republic of Ireland, and the Cornpanie5 Act 2006. Th¢ finaneial stat¢m¢nts have been prepared under the historical cost ¢onveotion. The financial statements have been prepar on a going concern basis. In adoptin8 this accountlll8 poliry thE Trustees (who are also diredoTS) have ¢onsidered th¢ valu¢ ot drjnations which the ¢harfry Is Ilkely iu r1V¥, ¢tii¢J for which they have no re&wns lo lieve that the charity will. not r¢c¢ive. Th¢y have considered a period exceeding twelve monihs from th¢ dat¢ of ihis report. Income All income is reco8nised in ihe Ststement of Financial Aciivities on¢e ihe chatity has entiil¢m¢nt ro the funds, it LS probabl¢ that the income will be received and the amount can be rneasured Teliably. Expendilurt Liabilitie5 are rttognised as expendiiwe as 0 as theT¢ is a legal or constnluive obli8ation cornmitting the charity io thot exp¢nditur¢, ii is pn)bable thai a transfer of economic ben¢fi¢S will be required io senl¢m¢ni and th¢ amount of the obligation ¢an be measured reliably. Expenditute is accounted for on an attwals basis and has been ¢lassifJed under headings thai aggregai¢ all cosi related to the category. Where costs canrK>t dircctly attributed to panicular headings they have been ajlocaied io activities on a b¥is consistent with thE Use of resources. TaxAtioo The ¢hariiy is exempt frorn rpOratiOn tsx on its ¢haritable a¢tivili¢s. Fund aeeounting Unrestricted fund5 can be used in acrdanCe with the ¢harithble objectives ai the discretion of the tnistees. Restrici¢d funds ¢an only used for particular restricted purF4)ses within the objects of the ¢harity. R¢stri¢tions arise when specifd by the donor or when funds are rdi5ed for particular restricted purposes. Further explanalion of the nature and purpose of ea¢h fund is iD¢lud¢d in the notes to the flnancial slatements. Pension costs and other p)st-r¢tirement benefits The charitable eompany operntes a defined ¢oniribution pension schem¢. Contribution5 payable to the charitable company's nsiOn scheme are charged to the atement of Finan¢ia] Activities in the period io which they r¢latr. The cbariiable company does noi op¢rat¢ a pension scheme. Contribuiions payable by the ¢haritsble wmpany io lh¢ employee5 personal pension schemes are ¢harged to th¢ Stsiem¢ni of Financi Activiiies in the period to which they relate. Page 15 continued...
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) NOTES TO THE FINAYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 1024 DONATIONS AND LEGACIL5 2024 2023 Donations 6J45.000 INVESTMENT INCOME 2024 2023 Deposit account interest CHARITABLE ACTIVITIES COSTS SupFK)rt ¢ost5 (see IKile 5} Dire¢t Costs Toials Charitsble A¢iivities 199J51 3.559JSI SUPPORT cosrs Governance costs Mana8ement Totals Charitable Activities 196551 3,00 199JSI NET INCOMEJ(£XPENDITURE) Net incomel{expenditure) is stated after Chargin(credItig)-. 2024 2023 Auditors. iemun¢rdiion TRUSTEES. REMUNERATIOIY AND BENEFITS There were rto tru5tee$' remunerfion or other benef for the year ended 31 July 2024 nor for the year ended 31 July 2023. Page 16 continued...
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVEIA)PMENT. (SHED) OTES TO THE FINANCIAL STATEMENTS- eontthued FOR THE YEAR ENDED31 JULY 2024 TRUSTELS, REMUNERATIOIY AND BENEFITS- ctsntinued Tru$tee5' expenses Travel expenses paid io Trnsiees in Carrying out their governance roles amounted to £Nil (2022 . £Nil). STAFF COSTS 21124 2023 Wages and salarie5 Social security costs Other pension costs iii,000 6552 107.667 6,886 124 121.555 The average monthly numberof employtts during ihe year was as follows.. 21124 2023 Charitable Activities No employtts received emoluments tn excess of £60,IKIO. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTIVITIES . Unre51rtcted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Investment income 4.792 EXPENDITURE O Charitablt activities Charitable Activities 4.055.917 4 055 917 NET INCOMEI{EXPENDITURE) (4,051,125) (4.051.125) RECOIYCILIATION OF FUNDS Tothl funds brought forward 4.148.042 4,148,042 TOTAL FUNDS CARRIED FORWARD Page 17 continued...
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED) NOTES TO THE FINANCIAL STATEMENTS- tontinut41 FOR THE YEAR ENDED 31 JULY 2024 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 4,985 938 1.029 1.029 CREDITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2024 2023 Trade credilOTS Social se¢urity and other wes Accrued expen5CS 2.999 2.183 SJ32 46.405 12. MOVEMENT IN FUNI)S Net movement in fvrtds At 31.7.24 At 1.8.23 Unrestrieted fund$ G¢neTal fund 9&917 2.992.SCrfJ 3.1189.417 TOTAL FUNDS 90.917 3089417 Net movement in funds. included in the above *e as follows." Incornin8 resources Re50urees expended Movement in funds Unr¢s¢ri¢ted funds Generdl fuTwJ 6J52.051 (3059.551) 2.9925011 TOTAL FUNDS 6552 1151 3.559,551 2 992JOO Pa8e 18 continued...
SUSTAINABILITY. HEALTH. ENVIRONMENT. DEVELOPMENT. (SHED} NOTES TO THE FINANCIALSTATEMENTS- cotstitiyed FOR THE YEAR ENDEDJI JULY 2024 12. MOVEMENT IN FUNDS- continued ComparntSves for mov¢m¢nt i• fll•ds Net movem¢ni irt funds Ai 31.7.23 At 1.8.22 Unrestricted funds General fuNI 4.148.042 {4,051,125) 96.917 TOTAL FUNDS 4.148.042 4,051,125) 96.917 Comparative net movement in funds. included in the atKJve are folw$.. Incoming resour¢es Resources expended Movement in funds Unrestritted fund$ General fund 4.792 {4,055.9l7) (4.051,125) TOTAL FiINDS 4055 917) 4051 125) A current year 12 month5 and prior year 12 mtsnths combined p)sitiOn is as follows.. Nei movernent in funds Ai 31.7.24 At 1.8.22 Unrestri¢¢¢d fyDds General fund 4.148.042 (1.058.625) 3.089.417 TOTAL FUNDS 4 148042 058 625) 3089417 A current year 12 month$ and prior Y 12 months w)mbit)ed n¢t movement in funds, included in the aknve are as follows.. Ineomift8 sour¢es ReKJurces expended Movement in funds Unrestricted fumd5 Geoeral fund 6J56.843 {7.615,468) (1,058.625) TOTAL FUNDS 6 556 843 7.615 468 1058.625) Page 19 coniinued...
SUSTAIP4ABILITY. HEALTH. EIYVIRONMENT. DEVELOPMENT. (SHED} NOTESTOTHE FINANCIAL STATEMENTS-tontiTrued FOR THE YEAR ENDED 31 JULY 2024 13. RELATED PARTY DISCLOSURFS There were no relwed party Iransactions for the yfdr ended 31 July 2024. Page 20
SUSTAINABILITY. HEALTH. Ef4VIRONMEN.T. DEVELOPMENT. (SHED) DETAILED STATEMENTOF FINANCIAL ACTIVITIES FOR THE YEAR ENDED31 JULY 2024 2024 2023 INCOME AND ENDOWMENTS Dongtion$ and leg#cies Donations 6J4S000 Investment income Deposit a0t interest Total incoming re50urees 6,552,051 4,792 EXPENDITURE Chritable activities Curatorial and Facilitaied programmes PartntTship Building Radical Resear¢h Fund Supwrting Emergenct and Pilot Schemes 129.000 862.000 1267.50• ,101s0• 425.000 993.976 745,400 1,688 252 JJ6O.000 3,852,628 Support Costs Mn4gemen¢ Wages Social 5¢curity Pen510fbS Insurance Telephon¢ Postage and stationery Travel Hotels & meetin85 Prof¢ssional fees Subs¢riplions Computer and 50ftware expenses Sundries Bank Char8es iii.oo• 6552 7,002 lJ96 107.667 6,886 7,002 1.326 1,991 1,582 22,376 43.246 439 425 6,941 1,416 19J68 37.857 1.782 591 8,026 350 227 395 196.55] 200,276 Covern*nte eosts Audiiors. remuneration Account8n¢y and legal fe¢s 3.0(K) 3,000 13 3,013 This page does not forni pwr of the ststutory financial sw¢meDts Page21
SUSTAINABILITY. HEALTH. ENVIRONMENT. . DEVELOPMENT. (SHED) DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR EIYDED3J JULY 2024 2024 2023 Total resources expended 59 4055 917 Net ineomtl{expenditure) 4 051 1251 Thi5 page Ik)es not fonn p¥t of the $VIory financial $ements Pagc 22