Charfty R8g15tratlon No. 1188154 THE SHANTY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024
THE SHANTY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustses J Manson (Chair and Treasurer) M Cassidy H Bralchell E Boot C M¢Murdie Charity number 1188154 Prlncipal address The Cedar8, PIX Farm Lane Hemel Hempstead HP12RY Ind8pend8nt 6xamln•r Ward Wllliams Limited Bay Lodge 36 H8refield Road Uxbridge Middlesex U88 IPH Bankers CAF Bank Ltd 2S Klngs Hill Avenue Kings Hlll West M811ing Kent ME194JQ
THE SHANTY TRUST CONTENTS Page Trustees, rep¢)rt Independent examiner's r8POrt Statement of )Inandal activitie8 Balance sheet Note$ lo the financial statements 7-11
THE SHANTY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 28 FEBRUARY 2024 The Iruslee8 present Ihoir report and finanual statements for the year ended 28 February 2024. The financial statements have been prepared In accordance wllh the accounting policies sel out In note 1 to the financi81 stslements and cOMY with the charity's trust deed dated 16 December 2019. the Chadlies Act 2011 and 'A¢counling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities Pfèpafing theif accounts in accordance with the Financial Reportsng Stsndard applicable in Ihg UK and Republic of Ireland IFRS 1021. (published In October 2019}. Objactives and actlvltleg Summary of Purpose$ The relief of povety for the public benefit particularly, bul not exclusively. in Kolkata, India. by providlng grants lo IndiduS{S in need andlor charities or other organi8ations worklng to Telieve poverty. The trustees are confident In tho publlc benefit as dellned by the Charity Commission. Summary of Maln Actfvitles for 2023- 24 Fundralslng to support projects run In Kolkats Indla by Indlan NGO, nllala Socloty for Human and Educatlonal Developmont. 1. Managlng fvndra181ng through tho GlobalGlvlng crowdfundlng plarform. To support after-school educauonal cla88es for 600 destilule children from Kolkats's squatter communities 11. To support 20 deslitule glrfs from Kolkata slums to attend school and vocational training iii. To provide emergency food and medical aid for deslitule families in crisls iv. To support business development training for dostsbjle women akIng lo take out micro108ns 2. Arranging n•w fundlng ft)r Rlghts and Entitlements Programm• To facililale the estsblishmellt of Self-Help Group¥ in 4 squatter communities and ene slum community across Kolkala li. To ensure that all resident8 In our tsrgel communities can assert their rights and access entitlements to all slate of West eengal and national Govemment of Indi8 schemes 3. Scrutlnlslng the actlvlties of Tlllala SHED, the ImpmentIng NGO, through an annual trustee wsit and regulaf reporting. 4. Remlttlng fund8 to Kolkata quartgrfy on presentation of quarterfy reports and budgets 5. Supportlng local (Kolkats-basod) fundralslng by engaging an experlenced fundralslng profg$slonal. Liaising regulat1y with and supporting the I?1 fijndraisof
THE SHANTY TRUST TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 28 FEBRUARY2024 Achlevemonts and rformanCe 1. Local Fundralser - Whilst The Shanty Trust has ra1s8d fewer funds from crowdfund1 and offline fundraising in the last year, th$ implementing NGO, Tiljala SHED, has successfully won SL¢PPOrt from corporates and inslilutions in Kolkata and more widely in India. This is larg6ly thanks lo The Shanty Trust's encouragement and the engagement of Sonali Mundl8, an excellent fijndraising professional. The Shanty Trust's purpose is lo support the vital work ol Tlljala SHED and encourage sustainability and this is going very well. 2. Vocational Support - Durtng the 2023 trustee visit, the board and management of Tiljala SHED in consullation with the Shanty Trust decided lo shift focus lo vocational training and aY from college and university education. Having n&ver had youngsters passing class X and Xll (GCSE and A level equivalentl in these communilles before the current education programme expanded in 2016, this was not an issue that needed addressing before. It lakes courage for a young pers¢Jn from such a poor section of society to loin a training scheme and much encouragement wa8 required, but we now have a 5te8dy stream of yovng people entering galnful employment on training 8chemes, mostly in hospitality and food preparatS0n. This is a first in their cornmunilies where almost everyone Is engaged in the Infomial economy rag pi¢klng, begging, rickshaw pulling, vegetable selling, domestic service. Thljala SHED slaff have worked hard al maklng useful contacts in the bu$ine88 communty- who are tho key to success in this endeavour. 3. Funds for Rlghts and Entitlements - Thanks lo the generosity of the Syncona Foundation. the first tranche of £10,000 is currently being deployed for the Rights and Enlillements Programme. The team of four wornen with volunteer helpers in the community are working hard lo ensure all eligible members of each of the four target communities are able to apY for the varSous national and state govemmenl schemes. Pensions, he8tth insurance, school 8cholafships, rations etc. The team is also helping sel up Self Help Groups. The groups of around 11 women open a bank account and save a small amount each month. They can then borrow from the group at a very low interest rate. Some groups also lend oulsidg the group for a higher rate. A group that saves well Can also approach a bank for a business loan. This ha8 been very successful for some groups. The SHG is an ide81 forum for women lo discuss a resolve problems and to share ideas. They make themselves responsible for the cleanliness and tidiness of the community and help out families in crisis. They feel empowed to approach local officials lo complain about short rations, or a poor water supply. The SHG has 8 positive effect on the whole community. We also find that our small cohort of lilerale young aple aro able lo hdp th8ir mothefs sel up and manage the SHGS. 4. Trust8a Visit - Jane Manson {Trusteel visited mljala SHED in J8nu8ry 2024 ar was very encouraged 10 88e how well the Self Help Groups werg running. Tho after-school classes have been enhanced by Tae Kwon Do classes, with a volunteer black bell coach who has taken some of the youngsters lo competitions. Wnning medals in a large open competllion is an undreamt of expetience for a child brought up on the margins of society. Other young people have joined a training course in fo¢d preparation lor the airline industry and others have obtained work as chets, drivers and salespeople. Jane mel up with S¢Jme of these youngsters they are Tiljala SHED'S great success. The Self Help Gioups welcomed Jane. Shelearned how they have lobbied lor $chool hOlarShIpSIbr$8rleS for (heir children.
THE SHANTh TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2024 Flnanolal rovlvH Detalt8 ofthe flTrarK491 perforM¢e fu the pwké are aet OLrt pages 5 to 11. The main sounx of in¢une fcf The Shanty Trust are from donthns made, the ma1 ol WI as noted above were Tecelved y5a the US based cr¢wdfiJnding platfcmi, Glob31 Gtwng. The Shanty Tru8t £20.000 from Syno)na Ltd for 2 year8 fundlng of the Rights & Eniltlements progf¥mme, of vthlth £iO.ooo has been received thtis yegr. In total, £31,650 (2023.. £25,167) w88 reAved thjring tl perlod, with ¢osis expend$d ot £37,tr74 (2023.. £58,52n. £30,344 (2023: £57,352) of wern amounts dl$trTlwted dliecuy kn fi¥a SHED to support their dlarftable work d6• In Indla. After the deficil for Ihe ye8r 01 £5,424 P023: £33.3601. there Its a reman ruerv¢ of £34.188 (2023.. £39,612) trj b& ewrlsd fo¥w4rd and to be LE8¢d h thrtsTartoe of thè clHW3 objecttves wlth £27,$54 P023: £33,034) of thtF bein9 Iestrtded In nabJr•. Iusks Faclng th• Charlty The tru¥tees have a3ses8ed Ihe majprii8ks tDvthkn the charfty [8 expo880, 8r• 38tisfiad that systoms are place to mlttgats exwsure to the mw risk8 Thè Shanty Trust ha8 no assets olher Ihan 6h at banK and no lbille$ apart from the item¥ Induded wilhin accruals. Jane Mans¢)n is tho onty 8xecuOv8 and this is a voluntary Tole. 2ecauB8 of Tt5 notuft, th8 Twstees do not ¢onsider I ntt¢99ary knthe charity to hokl a set e1 of reseNe¥ or have a ¥et reseNes poNq. Futur• Plan8 To c¢nlinuo to ¢rlurag&10eAI fiMdfaE8in9 In.Kolkata, to enC1rager1fja SHED to 4tsu8tsirkgtyUEty and IndepeTrJence fiDm forntgn funds. M8anwhile to continue k5 find fund$ for Rights and Enlllèmotts as thls b Ihe bad(bene of ww0. To arraroe fwthertrustse visits la 8¢rulin thè work to an¢ourag• staff th•rft. Strucknrej goygmanu •nd matr4•mont The Shanty Tw8t Is reglstered the Chrfty Commi68t¢n as of24th F8bN$ry 2020 (tharfty NmlKr 11881S4). The d)¥ity i¥ g¢Jvwned by Its trust deed dated 16th December 2019. The trustees who servo11 durfng theyear and up to the dats 0fgra ofthe )InAnry81 stat8m¢ntSWoro.' J Man80n (Chalr and Trea6ur•r) M Ca88tdy E Boot C M¢Murdlé Newlwstses are apwrtsj v14 rlwnmendallon by th• 0x1s9 bvstw ofthe tharity. The trust80s' rgportvRs approved by the 8oard IA Tru8ta¥. J Manson (Gtr and Tf•b¢nr truee
THE SHANTY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SHANTY TRUST I report lo the trustees on my examination of the financial statsment5 01 The Shanty Trust Ith6 chartyl for the year ended 28 February 2024. RgsponslhllStle$ and basls of rgport As the trustees of the charlty you afe responsible for Ihg preparation of the financial statements in accordar¢ce witti the requirements of the Charities Act 2011 (the 2011 Act}. I report in respect of my examination of the charity'5 fflnancial statements carried out under section 145 of the 2011 Act. In ¢arrwng out my examination I have fdlowed all the applicable Directions given by the Charity Commission und8r section 14515llbl of the 2011 Act. Independent examlnerfs statemenl I have completed my examlnalion. I conflmi that no Tnatters have come lo my attenon in nneCtIOn with the examination glvlng me cause lo bolieve that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act.. lx the financial statements do not a¢cord with those records- or Ihe financial slalements do not comply wth the applicable requirements concemlng the form and content of acwunls sel out in the Charities (Accounts and Reports) Re9ulallons 2008 other than any requirement that the aecounls give a true and fair vlew which 18 not a matter considored as part of an indepgndenl examination. I have no concerns and have eome across no other matters in connection with the examination lo which attentlon should bè drawn in this report in order to enable a proper underslandlng of the financial statements lo be reached. F. Harling ACCA Ward Willlams Llmited Bay Lodge 36 Harefield Road Uxbridge Middlesex UB81PH Dat8d.. .kn..l111.2ot*
THE SHANTY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY2024 unrestCted Restrlcted funds funds Total 2024 Total 2023 Nots$ Donations and legacies Investments 5,526 75 26,049 31,575 75 25,116 51 Total Income 5.601 26,049 31.650 25.167 Raising funds 5,384 5,384 40 Charitable aclivib'es 1,346 30,344 31,690 58,487 Total resources oxpended 6,730 30,344 37,074 $8,527 Net outgolng rnsourcgs before transfers 11,1291 14.2951 {5,4241 133,3601 Gross transfers befven fund3 1,185 11,1851 Net Incomel{expendltUfe) for tho ygarf Net movement In funds 15,4eoi 15,424) 133,3eo) Fund balances at 1 March 2023 6,578 33.034 39.612 72.972 Fund balan¢g8 at 28 February 2024 6.634 27,554 34.188 39,612 The ststement of financial aclivilles includes all gains and108ses recognlsed in th8 year. All income and expenditure derive from continuing activities.
THE SHANTY TRUST BALANCE SHEET AS AT 28 FEBRUARY2024 2024 20fJ CurY•rt C¥sh at bank and In hand 3S,208 40,sn Crgdltorn: amounts f4Hlng due withlTr oney io 11.020) ($601 34,188 39,612 In¢om• funds Reslricted fvnd¥ Unre8ts1ctsdfiJndy 33,034 6.578 6,634 34,188 .612 The finanoal st•tem¥nts *re approv by teTr[le¢S m.. .- J Man8on {ChAlr and ha8uror)
THE SHANTY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY2024 A¢¢ounting poll¢les Charlty Infomatlon The Shanty Trust was registered with the Charity Commission on 24th February 2020. The reglstered charfty number is 1188154. 1.1 A¢countlng conventlon The financial statements have been prepared in a¢cordan¢e wrth the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Slaternent of Recommended Practice 8ppllcablo lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repul1¢ of Ireland {FRS 1021" (published in October 20191. The charity is a Publi Benefit Entity 88 defined by FRS 102. The charity ha8 taken advantage of the pmisions in the SORP for charllle8 applying FRS 102 Update Bull&tin 1 not to prepare a Statement of Cash Flows. The financial s181ements have departed from the Charities IAccounls and Reports) Regulations 2008 only to the exlent required lo provide 8 true and fair view. This departure has invdvod following the Slalement of Recommonded Practice for charities applying FRS 102 rather than the vefsion of the Statement of Recommended Practice which 18 referred lo in the Regulation8 bul which has since been withdrawn. The financial slaternenls are prepar8d in sterllng. which is the functional currency of the charity. Monetsry amounts in these financial s*atementS are rounded to the nearest £. 1.2 Golng collcorn At the time of approvlng the financial ststemenls, the Irusl¢es have a rea80nable expectation that the charity has adequate r$sources lo continue In opfjralional existence for the foreseeable future. Thus the trustees continue to adopt the going nCeM basis of accounting in preparing the financial slalemenls. 1.3 Charftablo funds Unreslrided funds are available for use at the discretlon of the trustees in fvrtherance of their charitable obj-ectives unless th& funds have been designated for other purp¢)ses. Restricted funds 8re subject lo specthc condltlons by dorlors as to how they may be used. The purposes ond uses of the restricted fijnds are set out in the notes 1¢ the financtal $18lem8nts. IA Incomlng reSoUeS Income is recognised when the charlty is legally enlilled lo it after any perf0mae ¢orKli16on8 have been met, the amounts Can be measured rel18y, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised oncg the charity has been notified of the donation, unle8s performance conditions require deferral of the amount. Income tsx recoverable in relatlon lo donations received under GIft.d or deeés of covenant is recognised at the lime of the donallon. Legacies are recognised on receipt or othe1$9 if the charity has been nollfted of an Impending distributn, the amount Is known, and receipt is expected. If the amount is not kn¢)wm. the legacy is Irealed as a conllngenl asset.
THE SHANTY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2024 Accounting pollcles Icontlnugdl 1.5 Resourcès expendod All exponditure is accounted for on an accruals ba818 as a Ilability is incurred. Charitable activities expendllure comprises those costs incurred by the charity In the dellvery of ils activities and services lo its beneflciaries and those costs necessary lo support them, Govemance costs inclLkde thosfj costs associated wllh meetlng the conslitulional and statutory requirements of the charity and other exp8ndlture not directly related lo the chafitable actbvilies. 1.8 Cash and cash oqu6valents Cash and cash equivalonls include cash In harKI, deposits held at ¢all with banks, other short-lerm liq¢Jld investments with original maturltles of three months or less, and bank overdrafts. Bank overdrafts aro shown within borrowings in current liabilities. Baslc fln•n¢lal assets Basic financial assets, which Include debtors and cash and bank balances, are initially measured at Iransactlon price including transaction costs and are subsequently carrfed al amortised cost using the effectlve interest method unless the arrangement conslilutes a financing Iransadion, where the transaction 18 measured at the present value of the future receipts discounted al a market rata of intsrest. Finandal assets classified as Teceivable within one year arè not amortised. 8aslc financlal Ilabilities Basic financial liabilitles, inclLtdlng creditor5 and bank loans are1nilially recognised at transaction ptlce unless the arrangement conslltutss a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilitles classified as payable within ono year are not amorfsed. Derncognltlon of Ilnanclal Ilabilltles Financial liath'lilies are derecognised when the chtS Contractual obligats'ons explre or arè dischorged lx cancelled. Donatlon8 and legacles Unrèstrlctsd Restricted funds funds Total 2024 Total 2023 Donations and gifts 5.526 26,049 31,57S 25,116 For the year endgd 28 February 2023 4,556 20,560 25,118 Investments 2024 2023 Interest receivable 75 51
THE SHANTY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FE8RUARY2024 Ralslng funds 2024 2023 Other fundralsing costs 5,384 40 5,384 40 Charitabl8 activities 2024 2023 Grant funding of actlvits'es (see note 61 30.344 57,352 Share of support costs (see nolg 7) Share of govemance costs (see note 7) 326 1,020 175 960 31.690 58.487 Analysls by fund Unreslricled funds R8stricted funds 1,346 30,344 31,690 For th& year gnded 28 February 2023 Unreslricled fijnds Restrided funds 1,135 57,352 S8,487 Grants payablo 2024 2023 Grants to institullons.. The Tiljala SHED 30,344 57,352
THE SHANTY TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2024 support costs Support costs Govgrnan¢• costs 2024 2023 Bank charges 326 175 A¢cJnIancY 1,020 1,020 960 326 1,020 1,346 1,135 Analysed baen Charftsble aclivilies 326 1,020 1,346 1,135 Govemance costs includes payments lo tho independent oxaminers 01 £1,020 in¢ludlng VAT (2023.. £0 indudlng VATI. Trustees None of the Iru51ees lor any persons connected wlh them) received any remuneration or benefits from th8 charity during the year. Employegs There were no gmployees during the year. 10 Credltors: amounts falling due wlthln one year 2024 2023 Accruals and deferred income 1,020 960 10-
THE SHANTYTRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2024 11 Restrlcted funds The income funds of tho charity Include restricted funds comprtslng the following unexpended balances of donations and grants held on trust for specific purp088S'. Movgmont in fvnds 8alance at 1 Incomlng Resources March 2023 resources exp8nded Transfers Balance at 28 February 2024 Ilvelihood Emergency Food and Medicine Girfs Educallon General Education Covld Recovery F¥Jnd 10,482 1,455 8,326 5.786 15,7401 15,712} 15,805) 113.08n 4,742 4,257 11.804 14,125 7,301 112,7431 21,430 8.687 33.034 28,049 {30,3441 11,1851 27,554 The 2bove reslrictsd funds all relate lo speclfic projects belng undertakgn by a charitable organisalion in Indla called The Mlj8la SHED. 12 Rolatsd party transadlons There were no disclosable related paty Iransactlons dudng the year. 11