Charity registration number 1188154 (England and Wales)
THE SHANTY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
THE SHANTY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | J Manson (Chair & Treasurer) |
|---|---|
| E Boot | |
| M Cassidy | |
| C McMurdie | |
| H Bratchell | |
| Charity number (England and Wales) | 1188154 |
| Principal address | The Cedars |
| Pix Farm Lane | |
| Hemel Hempstead | |
| HP1 2RY | |
| Independent examiner | Harling & Kirk Accountants Limited |
| 4 Bowden Lane | |
| High Wycombe | |
| Buckinghamshire | |
| HP11 1DL | |
| Bankers | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ |
THE SHANTY TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
THE SHANTY TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
The trustees present their annual report and financial statements for the year ended 28 February 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities Summary of Purposes
The relief of poverty for the public benefit particularly, but not exclusively, in Kolkata, India, by providing grants to individuals in need and/or charities or other organisations working to relieve poverty.
The trustees are confident in the public benefit as defined by the Charity Commission.
Summary of Main Activities for 2024 - 2025
Fundraising to support projects run in Kolkata India by Indian NGO, Tiljala Society for Human and Educational Development.
1. Overseeing fundraising through the GlobalGiving crowdfunding platform.
- a. Over this year the Shanty Trust handed the day-to-day management of the GlobalGiving project portals to Tiljala SHED staff. Quarterly reports are now produced and posted direct from the field and TS staff are now regularly using the training modules to enhance productivity and assist with the visibility of the projects online.
2. Funds for Rights and Entitlements Programme now provided by the Syncona Foundation.
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a. To facilitate the establishment of Self-Help Groups in 4 squatter communities and one slum community across Kolkata
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a. To ensure that all residents in our target communities can assert their rights and access entitlements to all state of West Bengal and national Government of India schemes.
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Scrutinising the activities of Tiljala SHED , the implementing NGO, through an annual trustee visit and regular reporting.
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Remitting funds to Kolkata quarterly on presentation of quarterly reports and budgets
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Supporting local (Kolkata-based) fundraising by engaging an experienced fundraising professional. This arrangement came to an end in 2025, following the highly successful securing of funds from Mr Beast, US based YouTuber.
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THE SHANTY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Achievements and performance
1. India Based Fundraising. The Shanty Trust aims to help Tiljala SHED become fully independent of Shanty Trust funds and the flow of foreign funds in general. It is only by virtue of TS’s FCRA (Foreign Contribution (Regulation) Act) authority that it is able to receive funds from outside India at all. The Government of India is very sensitive to foreign funding for their nonprofits and is always ready to withdraw FCRA if an organisation transgresses. TS needs to find sustainable and local funding in India. ST fully supports this shift and is actively helping TS to engage with Indian corporates and grant-giving entities.
2. Mr BEAST and impact on ST funds. In March 2024, thanks to a well-connected local supporter of TS, a team from Beast Philanthropy (Mr BEAST is one of the world’s most followed YouTubers) visited Tiljala SHED and made a short video now viewed 19.1 million times. For Shanty Trust this made a difference as a lot of the donations generated by the video came through GlobalGiving. Many of those were small regular donations which continue up to the present. Most of the donations came into the four main programmes but there has been some unrestricted funding too. As well as the video, Beast Philanthropy donated a large sum (about $100,000) to run the programmes for a year. This gave TS the opportunity to expand its programmes, take on new staff and build capacity in other ways. All this was possible without the regular injections of funds from ST. For a year or so. The other incidental outcome of the Beast video is increased interest and donations from Indian corporates. So TS is in a stronger place than it was. However, it will still need to plug funding shortfalls from ST for the foreseeable future.
3. Vocational Support The Shanty Trust has taken a special interest in the young women amongst the beneficiaries who have undertaken stitching and tailoring training. Stitching provides business opportunities for women from very traditional communities who may not be able to seek job opportunities outside the home or the immediate community. This is widely recognised in Kolkata and a number of nonprofit training centres offer stitching training to youngsters from deprived backgrounds. However, there are expenses which are not covered by these training centres e.g. transport costs, fabric, basic equipment (scissors, tape measures, thread etc) and sewing machines (for those who choose to become self-employed). So the Shanty Trust has set up a new funding stream through the Global Giving platform so that these girls get the practical and financial support they need to pursue this vocational training.
4. Funds for Rights and Entitlements . With Syncona’s vital support, the Rights and Entitlements Programme has flourished. 25 Self-Help Groups (SHGs) are now active across six communities, empowering women through collective savings and lending. Beyond financial inclusion, SHGs facilitate access to government entitlements: voter IDs, pensions, health schemes, scholarships, and more. They also advocate for community needs with significant impact.
In one community 3 SHGs petitioned for a concrete bridge after repeated accidents involving children. In Topsia, 4 SHGs successfully lobbied the Irrigation Department to restore another collapsed bridge. Chameli SHG led fire relief efforts, rescuing victims and organizing aid. Sathi SHG supported Hasina Bibi, a bereaved mother, with food, childcare, and electricity restoration.
In Park Circus and Mir Meher, SHGs protested the murder of a female doctor, demanding justice through placards and marches. Hosla SHG secured repair of a defunct water tap by engaging the local councillor, improving access to clean water.
These achievements reflect the SHGs’ growing confidence, solidarity, and ability to drive change, from infrastructure and emergency response to justice and basic amenities, transforming their communities through grassroots leadership.
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THE SHANTY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
5. Trustee Visit Jane visited Tiljala SHED in November 2024 and again in March 2025. The impact of the funds from BEAST Philanthropy is marked. All the programmes were thriving with new and highly capable staff both in the field and in the administration. There are new extra-curricular activities: guitar lessons, drawing lessons and scouts bringing fresh opportunities to ultra poor children that are normally only available in private education and for the middle classes. A database has been established to monitor the progress of all the children in Tiljala SHED’s education programmes, on the back of which internal exams have been introduced to help the children achieve better results in their government schools. Children with special needs are now easily identified and offered additional support and the more able children are also being nurtured and encouraged to set ambitious goals. Staff have been recruited to assist with fundraising, especially in the social media field, which means that Tiljala SHED is now successfully bringing in new funding from a range of corporates and other grant giving institutions in India. There is some way to go towards sustainability but there is positive progress here. Once again Jane was very impressed by the growing confidence of the women in the Self Help Groups who have gripped their collective powers to make positive changes within their communities.
An important aspect of any trustee visit to to scrutinise the use of donated funds and Jane always works closely with the management and the accounts team to ensure that donor funds are spent according to the terms of the donations.
Financial review
Details of the financial performance for the period are set out on pages 6 to 12.
The main source of income for The Shanty Trust are from donations made, the majority of which as noted above were received via the US based crowdfunding platform, Global Giving. The Shanty Trust also secured £20,000 from Syncona Ltd for 2 years funding of the Rights & Entitlements programme, of which £10,000 has been received this year (£10,000 having also been received last year). In total, £31,389 (2024: £31,650) was received during the period, with costs expended of £25,350 (2024: £37,074). £21,470 (2024: £30,344) of these costs were amounts distributed directly to Tiljala SHED to support their charitable work directly in India.
After the surplus for the year of £6,039 (2024: deficit of £5,424), there is a remaining reserve of £40,227 (2024: £34,188) to be carried forward and to be used in furtherance of the charity's objectives, with £35,044 (2024: £27,554) of this being restricted in nature.
Risks Facing the Charity
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The Shanty Trust has no assets other than cash at bank, and no liabilities apart from the items included within accruals. Jane Manson is the only executive and this is a voluntary role. Because of its nature, the Trustees do not consider it necessary for the charity to hold a set level of reserves or have a set reserves policy.
Plans for future periods
To continue to encourage local fundraising in Kolkata, and to encourage Tiljala SHED to look at sustainability and independence from foreign funds.
Meanwhile to continue to find funds for Rights and Entitlements as this is the backbone of our work.
To arrange further trustee visits to scrutinise the work and to encourage the staff there.
Structure, governance and management
The Shanty Trust is registered with the Charity Commission as of 24th February 2020 (Charity number 1188154). The charity is governed by its trust deed dated 16th December 2019.
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THE SHANTY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
The trustees who served during the year and up to the date of signature of the financial statements were: J Manson (Chair & Treasurer)
E Boot
M Cassidy C McMurdie H Bratchell
New trustees are appointed via recommendation by the existing trustees of the charity.
The trustees' report was approved by the Board of Trustees.
.............................. J Manson (Chair & Treasurer) Trustee Date: .............................................7th December 2025
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THE SHANTY TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SHANTY TRUST
I report to the trustees on my examination of the financial statements of The Shanty Trust (the charity) for the year ended 28 February 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
F. Harling ACCA Harling & Kirk Accountants Limited
4 Bowden Lane High Wycombe Buckinghamshire HP11 1DL
Date: ............................
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THE SHANTY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2025
| Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 2 2,314 29,022 Investments 3 53 - Total income 2,367 29,022 Expenditure on: Raising funds 4 2,394 - Charitable activities 5 1,486 21,470 Total expenditure 3,880 21,470 Net income/(expenditure) (1,513) 7,552 Transfers between funds 62 (62) Net movement in funds (1,451) 7,490 Reconciliation of funds: Fund balances at 29 February 2024 6,634 27,554 Fund balances at 28 February 2025 5,183 35,044 |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 31,336 5,526 26,049 53 75 - 31,389 5,601 26,049 2,394 5,384 - 22,956 1,346 30,344 25,350 6,730 30,344 6,039 (1,129) (4,295) - 1,185 (1,185) 6,039 56 (5,480) 34,188 6,578 33,034 40,227 6,634 27,554 |
Total 2024 £ 31,575 75 31,650 5,384 31,690 37,074 (5,424) - (5,424) 39,612 34,188 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE SHANTY TRUST
BALANCE SHEET
AS AT 28 FEBRUARY 2025
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets The funds of the charity Restricted income funds 12 Unrestricted funds |
2025 £ 41,247 (1,020) |
£ 40,227 35,044 5,183 40,227 |
2024 £ 35,208 (1,020) |
£ 34,188 |
|---|---|---|---|---|
| 27,554 6,634 |
||||
| 34,188 |
The financial statements were approved by the trustees on .........................
.............................. J Manson (Chair & Treasurer) Trustee
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THE SHANTY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1 Accounting policies
Charity information
The Shanty Trust was registered with the Charity Commission on 24th February 2020. The registered charity number is 1188154.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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THE SHANTY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
1 Accounting policies
(Continued)
1.5 Expenditure
All expenditure is accounted for on an accruals basis as a liability is incurred.
Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services to its beneficiaries and those costs necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and other expenditure not directly related to the charitable activities.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 2,314 | 29,022 | 31,336 | 5,526 | 26,049 | 31,575 |
3 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 53 | 75 |
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THE SHANTY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
| 4 | Expenditure on raising funds | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Other fundraising costs | 2,394 | 5,384 | |
| 5 | Expenditure on charitable activities | ||
| Charitable | Charitable | ||
| activities | activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Grant funding of activities (see note 6) | 21,470 | 30,344 | |
| Share of support and governance costs (see note 7) | |||
| Support | 226 | 326 | |
| Governance | 1,260 | 1,020 | |
| 22,956 | 31,690 | ||
| Analysis by fund | |||
| Unrestricted funds | 1,486 | 1,346 | |
| Restricted funds - general | 21,470 | 30,344 | |
| 22,956 | 31,690 | ||
| 6 | Grants payable | ||
| Charitable | Charitable | ||
| activities | activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants to institutions: | |||
| The Tiljala SHED | 21,470 | 30,344 |
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THE SHANTY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
7 Support costs allocated to activities
| Support costs allocated to activities | ||
|---|---|---|
| Bank charges Governance costs Analysed between: Charitable activities Governance costs comprise: Accountancy |
2025 £ 226 1,260 1,486 1,486 2025 £ 1,260 1,260 |
2024 £ 326 1,020 |
| 1,346 | ||
| 1,346 | ||
| 2024 £ 1,020 |
||
| 1,020 |
Governance costs includes payments to the independent examiners of £1,020 including VAT (2024: £1,020 including VAT).
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
There were no employees during the year or prior year.
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Accruals and deferred income | 1,020 | 1,020 |
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THE SHANTY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
12 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| At 29 | Incoming | Resources | Transfers | At 28 | |
|---|---|---|---|---|---|
| February 2024 | resources | expended | February 2025 | ||
| £ | £ | £ | £ | £ | |
| Livelihood | 4,742 | 10,926 | (7,400) | (452) | 7,816 |
| Emergency Food and Medicine | - | 2,940 | (400) | (451) | 2,089 |
| Girls Education | 14,125 | 5,958 | (3,816) | (452) | 15,815 |
| General Education | - | 6,460 | (1,552) | 343 | 5,251 |
| Covid Recovery Fund | 8,687 | - | (6,045) | - | 2,642 |
| Tailoring | - | 1,882 | - | (451) | 1,431 |
| Admin/office | - | 856 | (2,257) | 1,401 | - |
| 27,554 | 29,022 | (21,470) | (62) | 35,044 |
The above restricted funds all relate to specific projects being undertaken by a charitable organisation in India called The Tiljala SHED.
13 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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