REGISTERED CHARITY NUMBER: 1190622 Report ofthe Trustees and Unaudited Financial Stat8mwt$ for the Year Endod 31 Dècembgr 2023 for THE SASHA FOUNDATION Richardson SwiftAudil Limited 11 Laura Place Bath BA2 4BL
THE SASHA FOUNDATION Contents of tha Financial Statomgnts for the year ended 31 December 2023 Page Report of the Trustses Independent Examinevs Report stat&m8nt of Financial Activities Balance Sheet Cash Flow Statemtrnt Notes to the Cash Flow Slatement Notes to the Financlal Statements 8 to 12 Detailed Statemant of Financlal Activities
THE SASHA FOUNDATION Report of the Trustees for the year ended 31 December 2023 The Iruslees present their report with the financial stalernents of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Rèporting by Charities.. Stslemenl of Recommended Practice applicable to charities prèparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffect4.ve 1 January 20191. OBJECTIVES AND ACTIVITIES Objeclives and airns The Objectives of the charity are the provision of financial support and guidance lo frslablished charitable organisalions.. {11 in the UK. supporting young people in the UK with a bias towards ycxjng people, who are suffering from depression and mental health issues or who are confronting drug abuse i58ues", arKJ 12) within the UK and Europe. supporting education arKI healthcare proFcis and programmes in the third world, wilh a bias toward8 educalicfi for young women. In pparIng their report and the finanoal slalem$nls of the charity for the year ended 31 December 2023, the trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Recomrnended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1Q>2) leffective 1st January 20151. All Iruslees have served as volunteers during the reporting period during which their main a¢livilies h8ve been lo consider and, where deemed appropriate, to award grants in accord with the Objecbves of the charity based on grant applications submitted by Charitable bodies. The trustees are cognisanl of and follow the guidance issued by the Charity Commission on public benefit The Trustees do not engage in fund raising activity.. their role is restricted lo overseeing the investment of the chaTty's endment income by professional fund managers and the award of grants. The grant making policy ofthe Sasha Foundation can be found on the charity's web 511e. Grantmaking The trustees award grants to suitable established charitable organisations in line with the charity's objectives. ACHIEVEMENT AND PERFORMANCE Grant awards lotalling £37,515 lin¢lLJding bank charges) were made during the period lo charities in support of their work with young people in the UK and with education and healthcare activities in Kenya and Nep81. Reports from the charities subsequent lo th& award of the grants gives the Iruslees Confiden that the grants have made a significAnl drfference lo the lives of those SLJPPOrted by the recipient organisations. Further detail is to be found cn the Sasha Foundation web sile al https.'Ilww.Ihesashaloundalion.w.ukl. FINANCIAL REVIEW Financlal revlew The funds invested in the Transact Investment Account under the professional management of Sovereign Wealth Management stood at 31 December 2023 net of fees al £718,182 131 D¢rnber 2022 - £654,917). No withdrawals were made from the Investment Account during the period. Additional donations amounting in lotsl 10 £54,01)O nel wère reiVed during the period from the First Trustees, resutting in a net income for the pericAI of £54,000. Taking into account grants made of £37,515 and adminislralive expenses of £2,225 during the period, the 8hort-term cash reserves held by the charity al 31 December 2023 slocxs at £36,985. No custodian funds are held or adMinisted by the Chaftty.. The tmstees, pdicy is to provide long tem suppDrt lo selected, sustainable projects that meet the objedives of the Sasha Foundation. The level of reserves held is judged appropriate lo meet thi5 objective and underpins the charity's status as a 90ing concem. PaoÈ 1
THE SASHA FOUNDATION Report of th¥ Trustees for the year ended 31 Decembèr 2023 FINANCIAL REVIEW R&sorves policy The Iruslees, poli¢y is to provide long lem) supp)rt to selecteol, sustainable projects that meet the objectives of the Sasha Foundation. The level of reserve5 he is judged approprHle to meet this objective and underpins the oharity's status as a going cOnrn. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The charity is an unincorporated org8nisalion govemed by a Trust Deed based on the model trust deed IGD21 recommended for adoption by charitable trusts by the Charity Commission for England and Wales. In addition, the trustees take into account a letter of wishes from the principal ttl0r5 Ilhe first Truste&sl gwing guidance to the trustees on how they would wish the funds invested In the charity to be applied tsking into account the objects of the charity. Appointment of trustees is govemed by the Trust Deed.. There must be al least 3 Trustees and no more than 9 Trustees and every Trustee must be appointed for a fixed term of S year5 by a resolution of the Trustees Passed al a special meeting ¢alled under clause 15 of the deed. Trustees should be direct descendants from the first Trustees unless there are insuffi¢ienl direct descendants fron the first Trustees, who are able and willing lo act. In addition. when selecting an individual for appointment the Trustees musl have regard to the skills, knowle&Je and experience needed for the effective administration of the charity. The Iruslees meet a year to review progress reports received from recipient org8nisation8 on grants awarded in prior periods. assess latest grant applications. review Ihe finanaal status of the charity and lo determine future grant awards. Meetings are subject to a formal agenda and are fomally minuled. Post meeting the Chairman handles the transfer of funds lo successful applicants and ensures the appropriate acknowledgement of receipt and commllment lo the correct application of fvnds is reiVed Sep8ralely the Chairman meets with Sovereign Wealth Management lce a year to review and agree investment poIicy with respect lo the invested funds. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity nUMr 1190822 Principal address 11 Laura Place Bath BA2 4BL Trustaès N Love Dr M Love Mrs P Love 8 Love Ms N Laird Independwt Examiner Richardson Swrft Audit Limited 11 Laura Place Bath BA2 4BL Approved by or he board of trustee5 on . i¥l,-Ig-Lf . and swJned on its behalf by.. DrML Tr ee Paae 2
Independent Examinerfs Report to the Trusteos of The Sasha Foundation Independent gxaminer's report to th¥ trustèes of The Sasha Foundation I report lo the charity Irusle&s on my examination of the aLKounts of The Sasha F¢Jundalion Ilhe Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Aet 2011 {'the ACVI. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carying out my examination I have foAowed all applicable Directions glen by the Charity Commission urKler Section 145151{bl of the Act. Indep&nd9nt examiners statemant I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause lo belY&ve that in any material respecL' accounting records were not kept in respect of the Trust as required by Section 130 of the Aet,. or the accounts do not accord with those records., or the accounts do not Comply with the applicable requirements concerning the fom and conlenl of accounts sel out in the Charities {Accounls and Reports) Regulations 2008 other than any iequirement that the accounts give a true and fair vw Wthh is not a m8tter considered as p8rt of an independent examination. I have no concerns and have come across no other tnatters in connection with the examination lo which allenlion should be drawn in this report in order to enable a proper understanding Df the accounts lo be reached. Catherine Edwards Richardson Swift Audit Limited 11 Laura Place Bath BA2 48L Dal8'. Paoe 3
ThE SASHA FOUNDATION statement of Financial Activities for the yèar ended 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and leoacies 59,000 38.750 Investment income 50 Total 59,446 38,800 EXPENDITURE ON Raising fund$ Raising donations and legacies Investment management costs 2,475 4.394 2,400 4.423 6.869 6,823 Charitable activities Grants lo inslilulions 37,515 72,075 Total 44,384 78,898 Nel gainslllossesl on investments 67,212 149,8231 NET INCOMEIIEXPENDITUREI 82,274 189,9211 RECONCILIATION OF FUNDS Total funds brought forward 686,171 776.092 TOTAL FUNDS CARRIED FORWARD 768,445 686,171 The notes fonn part of these financial stslements
THE SASHA FOUNDATION Balance Sheet 31 Decembor 2023 2023 Unrestricted tund 2022 Total funds Notes FIXED ASSETS Investments 10 707,792 649,741 CURRENT ASSETS Debtors Cash al bank 15.528 47,375 10.528 27,902 62.903 38,430 CREDITORS Amounts fralling due within one year 12 12,29)) I2,0) NET CURRENT ASSETS 60,653 36.430 TOTAL ASSETS LESS CURRENT LIABILITIES 768,445 686.171 NET ASSETS 768,445 886,171 FUNDS Unrestricted funds 13 768,445 686,171 TOTAL FUNOS 768,445 686.171 The finandal st ments were approved by the Board of Trustees and 8ulhorised for issue on and were signed on ils behaK by.. /¥/1./14 ove Uslee The notes fom part of these financial strdlements
THE SASHA FOUNDATION Cash Flow Statement for the year ended 31 De¢ember 2023 2023 2022 Not8s ash flows from oporating actlvities Cash generated from operations 9,866 147,9211 Nel cash provided byllused inl operating activities 9,866 147.9211 Gash flows from investing a¢tivities Purchase of fixed asset investments Sale of fixed asset investments Interest received 124,6861 33,847 446 so Nel cash provided by investing ath"vilies 9.607 50 Change in cash and cash equivalents in the reporting period Cash and cash èquivalents at th¥ beginning of the reportlng period 19,473 (47,8711 27,902 75,773 Cash and cash equivalents at the end ol the reporting period 47,375 27,902 The notes fomi part of these financial statements Paae 6
THE SASHA FOUNDATION Notes trj th• Cash Flow Statement for the year ended 31 Decembar 2023 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net in¢omellexpenditurel for the reporting period las the statement of Financial Activities) Adjustments for: (Gainlllosses on investments Interest received Increase in debtors Increase in creditors 82,274 189,9211 167.2121 14461 15,0001 250 49.823 1501 17.7731 Net cash provided byllused in) operations 9.886 147,9211 ANALYSIS OF CHANGES IN NET FUNDS Al 1.1.23 Cash flow At 31.12.23 Net cash Cash al bank 27,902 19,473 47.375 27.902 19.473 47,375 Totsl 27.902 19.473 47,375 The notes forrn part of these financial statements Paae 7
THE SASHA FOUNDATION Notes to the Financial Statements for the year ènded 31 December 2023 ACCOUNTING POLICIES Basis of preparing the finan¢lal statements The financial slalements of the charity, which is a public benefit enlty under FRS 102. have been prepared in accordance with the Charitie5 SORP IFRS 1021 'Aecounling and Reporting by Gharities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial stslements have been prepared under the historical cost convention, with the exception of investments which are included al market value, as modified by the revaluation of certain assets. Income All income is recognised in the Slalemenl of Financial Activiiies once the eharity has efrtf(lement lo the funds. il is probable that the incorne will be reiVed and the amount can be measured reliably. Expendlturo Liabilities a recognised as expenditure as soon as there is a legal or constructive oblvJalion committing the charity to that expenditure, It is probable that a transfer of econorni¢ benefits will be reqUId in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate al cost related lo Ihe category. Vvhere costs cannot be directly attllbuted lo particular headings they have been allocated to activitie5 on a basis consistent with the use of resources. Grants offered subject lo condillons which have not been mel al the year end dale are noted as 8 commitment but not accrued as expenditure. Taxation The charity is exempt from tax on its charitable activ0$. Fund accounting Unrestricted fvnds be used in aceordance with the charitable objectNes at the dtscrelion of the trustees. Reslricled funds can only be used for particular reslricled purposes wthin the objects of the charty. Restrictions arise when specified by the donor or when funds are raised for parttcular reslii¢ted purposes. Further exptanalK)n of the natu and purpose of each fund is included in the notes to the financial statements. DONATIONS AND LEGACIES 2023 2022 Donations Gift aid 54.000 31,000 7.750 59.000 38,750 Paae 8 f£)ntinued...
THE SASHA FOUNDATION Note5 to the Financlal Statements - ¢ontinued for the year endgd 31 December 2023 INVESTMENT INCOME 2023 2022 Interest receivable 50 RAISING DONATIONS AND LEGACIES 2D23 2022 Sijpport ¢osts 2,475 2,400 INVESTMENT MANAGEMENT COSTS 2023 2022 Support costs 4,394 4.423 CHARITABLE ACTIVITIES COSTS Grant lunding of acliwlie5 Is* note 71 Grants to inslilulions 37,515 GRANTS PAYABLE 2023 2022 Grants to insliluti¢)ns 37,515 72,075 SUPPORTCOSTS Information lechntslogy Goveman costs Finance Totals Raising donations and legacies Investment management costs 60 2,415 2,475 4.394 4,394 4.394 60 2,415 6.869 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2C>22. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. P80e 9 continu...
THE SASHA FOUNDATION Notes to the Flnancial Statements - contlnugd for the year ended 31 December 2023 10. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 January 2023 Additions Disposals RevalLJalions 649,741 24,686 130,8051 64,170 Al 31 Dec&mb&r 2023 707,792 NET BOOKVALUE Al 31 December 2023 707,792 Al 31 December 2022 649,741 There were no investment assets outside the UK Cost or valuation al 31 December 2023 is represented by: Listed investments Valuation in 2021 Valvalion in 2022 Valuatn in 2023 Cost 68,319 149,8231 60,112 629.184 707,792 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtors 15,526 10,528 12. CREDITORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade creditors Other creditors 250 2,000 2,000 2.250 2.000 Paae 10 Continued...
THE SASHA FOUNDATION Note$ to the Financial Statèments- continued for the year ènded 31 D&comber 2023 13. MOVEMENT IN FUNDS Net movement in funds At1.1.23 31.12.23 Unrestricted funds General fund 686,171 82.274 768,445 TOTAL FUNDS 686.171 82.274 788.445 Nel movement in funds. included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 59.448 144.384} 67.212 82,274 TOTAL FUNDS 59.448 144,3841 67,212 82.274 Comparatives for movement in funds Nel movem1 in funds Al 31.12.22 A11.1.22 Unrestricted funds General fund 776,092 189,9211 688,171 TOTAL FUNDS 776.092 189.9211 686.171 Comparative nel movement in funds. induded in the above are as follows= Incoming resources Resources expended Gains and losses Movemant in funds Unrestricted funds General fund 38.8CMJ 178,8981 {49,8231 189,9211 TOTAL FUNDS 38,8CyJ {78,8981 149.8231 189,9211 Paae11 continued...
THE SASHA FOUNDATION Notes to thg Flnancial Statements - ¢ontlnued for the year ended 31 December 2023 MOVEMENT IN FUNDS- continued A ¢urrent year 12 months and prr year 12 months combined position is as follows.. Nel movement in funds At 31.12.23 A11.1.22 Unrestricted funds Genera fund 776,092 17,6471 768,445 TOTAL FUNDS 776,092 17.6471 768,445 A current year 12 months and prior year 12 months combined nel movement in fur)ds. irlUded in the above are as follows.. Incoming resources Regources expended Gain5 and losses Movement in funds Unrgstrict9d funds General fund 98,246 1123,2821 17.389 17,6471 TOTAL FUNDS 98.246 1123,2821 17,389 17,647} 1 RELATED PARTY DISCLOSURES The donations in the year were recewed from the Iruslees. Pa 12
THE SASHA FOUNDATION Dgtai1g¢J Statement of Financlal Activities for the year ènded 31 December 2023 2023 Unrestricted futyjs 2022 Total funds INCONIE AND ENDOWMENTS Donations and legacies Donations Gift aid 54,000 5,(X)O 31,000 7,750 59.000 38,750 Investment income Interest receivable 446 50 Total incoming resource8 59,446 38,800 EXPENDITURE Charltable acttvities Grants lo institutions 37,515 72.075 Support Costs Finan¢• Investment charges 4.394 4,423 Information technology Website costs 60 Govemance ¢osts Accountancy and legal fees 2,415 2,400 Total resouices expended 44,384 78,898 Net incomtr before gain$ and losses 15,062 140,0981 Realised recognised gains and los$e$ Realised gainslllossesl on fixed asget investments 67,212 149,8231 Net income 82,274 189,9211 This page do&s not lorrn part of the statutory financial statements Paae 13