REGISTERED CHARITY NUMBER.. 1190822 Report of th• Tru8t••s ènd Unaudlted Flnanci41 Slat¢mtnts for tho Year Ended 31 Decembor 2024 lor THE SASHA FOUNDATION Richardson Audit Limf(ed 11 Lèura Place Bath BA2 48L
THE SASHA FOUNDATION Contents ot the Flnanclal Stat•ments for the year end*d 31 December 2024 Pago Report ol th• Tru$tees Independent Exomin•f8 Report ststoment of Flnanclal Actlvltles Balanc• Sho01 Cash Flow Statoment Notes to the Cash Flow Statsmettt Notè$ to thè Flnanclal Statement 8 10 12 D•tall•d Statgmont of Flnan¢l¥l Actlvltie$ 13
THE SASHA FOUNDATION Report of th• Tru$tees for the year ¢ndod 31 Decomb•r 2024 The Iruslees present their feport with Iho financial 91altmenls of the charity for the year anded 31 Oecember 2024. The Iruslees havè adopted the prov*sion5 of Accounling and RepDrtsno by Charities.. Stalemènl of Recornmended Practicé applicable lo charpdes preparir>g their a¢wunts In accordance with the Financial Reporting StsndÈid applieable in Ihe UK and Republic ol Irèland IFRS 102) lelfective l Janu?ry 20191. OBJECTIVES AND ACTIVITIES Objèrlives and #Ims The Objectives ot the charity are the prowsion of linancial 5UPPQrt and guldance lo establi8hed ¢harftable organlsatlorts.. {11 in th& UK. supporting young people In the LIK with a bla& towards young p¥ople, who 8r8 suflering from dew8sslon and rnenr health issues or who are confronting drug abuse issuès,. and 121 within the UK and Europe, supporting educalHJn and healthc8re wijects and programmes In the third workl. vrith a bias towards 6ducaJon for young women. In preparing thelr port and the financial statemonts of the eh•illy for Ihe year ended 31 December 2023, the tru$lees hav8 adopted the provtsiens of Accounllng and Reporting by Charities.. Ststement of Recommended Praclice applicable to charl.eS preparing their accounts In 3¢cordan¢e with the Finanryal Reporting Standard applicabl8 in the UK and Repvbli¢ ol Ireland (FRS 1021 leffedEv8 151 JanL$8ry 2015). All trustees have served 45 volunlegTS during the reporting perigd during which Iheir main activikne8 have been lo consider and, where deerned appropriale, to award grant5 In accord with the 04'8ctives of the charity based on grant appllcallons submitted by charitable bodies. Thg InJst8e8 are cognisanl of and follow the guldance Sssued by the Challty Commisslon on publlc benéfft. Tho Trustees do not engage in fund raising acltvily.. their role is weslricl8d lo overseeing the inveslm8nl of tho th8rrtgs endowmonl 5ncome by prole55ional fund managers and th¢ award of grants. Tha grant making p(Aicy ¢f the Sasha Foundation cen be found on thè ¢h¥rity$ web site. Grnntmaklng The trustees award grants to suitsble established Charitable organisalions in line.with the charily's obiectives. ACHIEVEMENTS AND PERFORMANCE Grant &wèrds totslling £37,515 {including bank charges) wera made during th• peri io chariues in support ol their work with youn9 people in the UK end wilh education and healthcare acti%llies in Kenya and Nepal, Report5 from the charllie8 subsequent to the award of the grants gives the trustees confidence that ihe grants have made a $ignrficanl difference to Ihe liv¢5 01 those s(tpported by Ihe recipient organisations. Furthtsr deta is lo be found on the Sasha Foundation web slle al hltps'.IIw.{heSashaIQUd6t1O.¢0.uk1. FINANCIAL REVIEW Flnanclal revltw The funds InvDsled the Tr8nsad Investment A¢¢ovnl under the profeSonal m8n¥sernenl of Sovereign Wealth Mana9ement Stood at 31 Oecember 2024 net af fees at £779,052 (31 Dewnber 2023 - £718,182). No wthdrawBI8 wgre made from the Inv9$1menl Aecounl durtng the TIOd. Additional donations amoUnUng In total to £26,000 nel were re¢eiv¢d during the period from the Flrsl Twstees, resulting In a nèt income for the period of £2e.287. Taking into account grants made of £40,030 and admini51raliv¢ expense5 of £7,322 during the p$riod. the short-lem cash Teserrfes held by thfr chadly 8131 December 2024 stood at £35,027. No custodian funds are he or aclmlnlstered by the ch8rky. The trusloe8' policy 13 lo provide long tem support lo selected, SLSSt8inable proieGls Ihal meet the oblectwes ol the Sasha Foundation. The level of reserves held Is judgeLI approprKale to meet this ot¥ecllve and UndeIn8 the chartys stslus as 8 going con¢¥m. Pa9e 1
THE SASHA FOUNDATION Rèport of the TruÈt8 for the ye•r ended 31 Dèc•mber 2024 FINANCIAL REVIEW R¢seryo¥ polley The Irustees, policy is to provlde long tefm support Irj selected. 6uslalnable projects that meet the oblectivès of the S8sh8 Foundauon. The tevel o., reserves held 15 judged approwlale lo meet this objective 8nd underpns Ihe charills slatvs as a going concem. STRUCTURE. GOVERNANCE AND MANAGEMENT Goyemlng document The charity is an unin¢)JTpof8ted organlsalion govemad by 8 Trust Deed bJsed on the model trust d¥ed IGD21 recommended for adoption by ¢harilable trusts by the Charity Commissitsn for England and Wales. In addits"Dn. the Irusle86 take into accounl a ketler of wishes from the principal 5etlors Ilhe first Trustees) giving guldance lo the Iru61eès on how they would wish the fund9 invosted in the charty to b8 applied tsking Into aGcounl the objects ol the oh8rity. Apwntrnenl of truslees is governed by the Trust Deed-. There must b8 81 least 3 Twslees and no more than 9 Trv51ees and ev8ry Trustee must be Bppdnled for a fixed term of 5 ye?Is by g Tesolulion of the Truslaes paed at a speclal meeting. lled under clau5p 15 of the deed. Tru51ee$ shosJliJ be direct des¢endant6 from Ihe fifgt Trustees unless there in5ufficieNt dire¢t descendants from the first Tru5t4es, who are able and wlling to acl. In addition. when sel&cting an indrvldual for appointmenl the Tru$lees mug1 have reg8rd to the skills, knawledge and experience needed for ihe effactive administration ol the charity. The trustpgs meet l¢e g year to review progress reports received frorn redplent organisations on gfants awarded in prior pwlod5. 8$sess lat85t grant applicatrons, review the fin8n¢lal status ol the charity and to delemine future grant awards. Meeting$ are subject lo 8 fomial agenda and are formglly mlntsled. Post meeting thè Chaimian handles th¢ transfer of fund5 to successful applicants and ensures the appTopriale adinovAedgemenl ol receipt and commitment to Ihe correct appli¢atSon of lunds is received. Separ3lely the Chaimian meèts with Sovereign Wealth M8n8gement tsWGe a year to review an¢J agfeg investsnenf ptsliey with respect to Ihe Invested funds. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charfty number 1190822 Prfnclpal address 11 L8LEra Place 88th BA2 48L Tru8t808 N Love Dr M Love Mrs P Love B Love Ms N Laird Independent Examln¥r R%ch8rdson Swfl Audil Limited 11 Laura Place 88th BA2 4BL Approved by o thp board of trustees Dn .. . and slgned on its behalf by. Page 2
Independent Examiner'6 R•port to the Truslee$ of The Sasha Foundailon Independent *xamlnèr'$ report to the tru8t0é8 of The Sasha Foundatlon I report lo the charity Iruslees on Tny examinabon of the aeLounts of The Sasha Foundation Ilhe Tru$ll for the year ended 31 December 2024. Rosponslbllities and b9818 of report As the charity trslee5 of the Trusl you ar& rasponsible for the piepAialitsn of the accounls in accordance with the requir¢ments of the Charities Ad 2011 1'thÈ Acl'l. I report in respect ol my examination ol the Trust's 8ccounts carrie¢J oul under Section 146 of the Act and in carrying out my exarninalion I have follLwed all applicable Directions given by the Cttarty Commission under Section 14515llbl ol the Act. Indeptndent examinerfa #latoment I have completed my examination. I conlirni that no material mallers have cDmè lo my attBntiun In connection th the examinaiion giving me c8V$& to befieve thai in any maleiial respect accounting records were nut kept in respect of the fnjst as required by Se¢lSon 130 of the Act,. or the 4ccounts do not ord wlth those tscords,. or the ac¢ounls do not comply Wikh the applica0 requirements concerning thg form and content of accovnls sel out in the Ch8rilie$ <Aecounts and Report$l Regulations 2008 Dther than any requlremenl Ihat the accounts give a true and fair view which 1$ not a matter consid¢r6d a6 part of an in(5ependenl examination. I have no cone&m5 8nd have come 8cro83 no other matters in conne¢lon with thB examinolion to which allenllon should be drawn in this report In order to enable a prop¢r ondersianding ol the accounts to be Teached. Cathedne Edwords Richardson Swft Audil Limitod 11 Laura Pla Baih BA2 4BL Dale-.. .1. lo)12.-,......... Pa9e 3
THE SASHA FOUNDATION Slatam•nt of Flnanclal Actlvl¢lgs for the y•ar gnded 31 December 2024 2024 Unte$lricied fund 2023 Total fvnd5 Notes INCOME AND ENDOWMENTS FROM DonBtlons and leggeies 32.500 59,000 Investment income 888 446 Totsl 33,368 59,446 EXPENDITURE ON Ralsing fund8 Raisin9 donations and legacles Investment mpnagemenl costs 2,500 4,822 2,475 4.394 7,322 8.869 Charftable a¢tivitlo$ Giants to institutions 40,030 37,515 Total 47,352 44,384 Net 98Ins Investmenis 76,926 67.212 NET INCOME 62.942 82,274 RECONCILIATION OF FUNDS Total funds brought forward 768,445 686.171 TOTAL FUNDS CARRIED FORWARD 831,387 768,445 The notes fomi part of th8sa financial ststements Page 4
THE SASHA FOUNDATION 88lanc& Sheet 31 D袕mbèr 2024 2024 UnresiA¢ted fund 2023 Total funds Notes FIXED ASSETS Inve$lments io 779,052 707,792 CURRENT ASSETS Debtors Cash 91 bank 11 22.028 35.027 15,528 47.375 57.055 62,903 CREDITORS Amounts falling dye ¥thin one year 12 14.720) 12,2501 NET CURRENT ASSETS 52,335 60.653 TOTAL ASSETS LESS CURRENT UABILITIES 831.387 768.445 NET ASSETS 831,387 768,445 FUNDS Unrestri¢led funds 13 831.387 768,445 TOTAL FUNDS 831.367 768,445 The finan al tements w8r& approved by the Board of Trustees and aUthoSed for issue on - and were signed on Its bthalf by.. e- Truslee The notes fom part of thgse fancIal ststernents Page 5
THE SASHA FOUNDATION Cash Flow Statement forthe yéar ended 31 December 2024 2024 2023 Cash flows from operatlng activltleB Cash generalpd from operaknons 118,8821 9.886 Nel cesh (used inllprovided by OpeIlnU gctivilie8 (18,8821 9.866 Cash Ilow$ from Invosting activiti Purchase ol fixed assel Inveslm¢nts Sal& of fixed assel investments Inlere5t rg¢eive(S 18,4041 14.070 868 124,6861 33,847 446 Nel ¢?sh proiryrkd by imiesbng aclNlties 6.534 9,607 Change In cash and $h equlvalents In the rèportlng period Cash and cash equlvalents at the beulnnlng ol tho rgportlng perlod 112.3481 19.473 47,375 27,902 Cash and cash equlv•lent8 at the end of the reporting perlod 35.027 47,375 The notes lomi part c>f these nanCIal statements Page 6
THE SASHA FOUNDATION Notes lo the Cash Flow Slatoment for the year ènded 31 De¢emb?r 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Ngt Incom• for the roportlng perlod la¥ pgr the Statemgnt of Flnonclal Aeti¥lti•BI Adjustments for: Gain on inve$trn8nl8 Interest receNed Increase in debl¢r8 Inexease in creditois 62.942 82,274 178,9261 18681 16.5001 2,470 (67.2121 14461 15.0001 250 Not cash (used Inllprovlded by opératlon8 118.8821 9,866 ANALYSIS OF CHANGES IN NET FUNDS Al 1.1.24 Cash flow At31.12.24 Net u$h Cash el bank 47,375 112,3481 35.027 47,375 112,348 35,027 Total 47.375 112,3481 35.027 The notes foTm part of these finanelal statements Page 7
THE SASHA FOUNDATION Notes to the Flnan¢lal Statam&nt$ for the year •nded 3106comb¢r 2024 ACCOUNTING POLICIES 8asis of prep#rlng thè flnanclal 8tatomnts The flnan¢iAI statements of Ihe charlty, whSch £s a public benefit entity under FRS 102. have bèen prepared in accordance th ihe Charilie5 SORP IFRS 1021 'Accounting and Reporting by Chari'es.' Statement of Recomrnended Practice applicable lo charities prèparing %heiF 8CGQUllts In &ccordance with the Fin8ntr81 Reporting Standard applicable in ihe UK and Republic ol Ireland IFRS 102} leffeclive l January 20191,, Flnancial Reporting Stsndard 102 'The Fin8n¢ial Reporting Standard applicable in the UK and Republic ol Ireland, ond the Ch8rilie$ Act 2011. The financial st8temenls have bgen ppared undei the hisiorieal ¢ost convention, th the ex¢eptlon of investments which Bre included al market value. as modified by the revaluBt*Jn Df certain assèts. In¢ome Al incame is recognised In the Slalemenl ol Flnancial Activitie5 once the charity has entitlement to the funds. ti 1$ probable th81 the incorne will ba received and the Bmount can be measured relièbly. Expendltur• LTrabilitles are re¢ognls8d as expendilLtre as soon as there is a lègal or constructive obligation committing tho tharity to that expenditure. it 15 prob8ble thal a transfer of economlc benefits will be requlred in sethement and the amounl of Ihe obligatitsn ¢an be measured reliably. Expenditura is accounted for on an accruals basi5 and has been dassified undei headings that aggregate all cost related to the tegory. Wheie costs cannot be directly attributed lo particul8r headings they have been allocated lo actlwligs on a ba858 c¢nslslenl wlth tho us8 of r•sourc8S. GrBnls offered subject lo coftdillons which h8ve not been mel at thè year end dale are noted as * commltmenl bul not accnjed 8s ?xpenditure. Taxatlon The charity is exemptfrom tax on its charitable actiwUes. Fund accountlng Unieslricled funds Can be used in accordan¢e vrith Ihe chèrtt#ble objeetives al the discretion of the trustees. Reslriclad funds can only be v58d for partScular r25lrECted purposes wlhin the otyects of the charity, Reslrictiens arise when ¥pècrfied by the donor or when fund5 ar8 raised lor particular restriclad purposes. Further explanatlon of the nature and purpos& of each fund Is induded in th8 notes to the fmancial Statements. DONATIONS AND LEGACIES 2024 2023 Donations Gift aid 26,000 6.500 S4,000 5,000 32.500 59.000 Page 8 continued...
THE SASHA FOUNDATION Notes to the Flnanclal Stat¢mentG- contlnued for thè yèar onded 31 Decemb•r 2024 INVESTMENT INCOME 2024 2023 Int$roSt receivabl• 868 446 RAISING DONATIONS AND LEGACIES 2024 2023 Support costs 2,500 2,475 INVESTMENT MANAGEMENT COSTS 2024 2023 Support costs 4,822 4.394 CHARITABLE ACTIVITIES COSTS Grant funding of aclnii1195 (sea nol& 71 Grants to Institutions 40.030 GRANTS PAYABLE 2024 2023 Grants lo Insblutsgris 40.030 37,515 SUPPORT COSTS InfomialiDn Governance lechnglogy eosts Flnance Totals Raising donations and legacie? Investment m8nagemenl ¢osts 30 2.470 2.500 4,822 4,822 4.822 30 2.470 7,322 TRUSTEES. REMUNERATION AND BENEFITS There were no tfUStee$' remvneTalion or other benefits lor the year ended 31 Oecembtr 2024 nor for the ye8r ended 31 December 2023. Trustees. expon808 There were no trustees, expenses paid for the year en.ded 31 December 2024 nor foi the year ended 31 December 2023. Page 9 o)nlinuad..
THE SASHA FOUNDATION Notes to tho Fln8nclal Statgm•nts- ¢ontlnuod for tho y98T ended 31 Decombgr 2024 10. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 January 2024 Additions Dk%POS8Is Revaluallens 707.792 B,404 112,188) 75,044 At 31 December 2024 779,052 NET BOOKVALUE Al 31 Dember2024 779,052 At 31 Decemtrer 2023 707,792 There were no investrnent 8ssel$ wtside th8 UIL Cost or valuatlul 8t 31 December 2024 is represented by. Llsted Investments Valuatlon in 2021 Valu8tion in 2022 Valuation in 2023 Valuation in 2D24 Cost 68,319 149,8231 60,112 72,924 e27,S20 779,052 11. DE8TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors 22.028 15,528 12. CREDITORS: AMOUNTS FALLING Due WTHIN ONE YEAR 2024 2023 TT8de crgdilors Other creditors 2,520 2.200 250 2,0 4.720 2,250 Pago 10 continued...
THE SASHA FOUNDATION Not•$ to the Flnanclal Stat•ment$- rontlnued for the yèar ended 31 Decemljer 2024 13. MOVEMENT IN FUNDS Nel movemgnl In funds Al 31.12.24 Al 1.1.24 Unr¢strlctèd funds General fund 768,445 62.942 831.387 TOTAL FUNDS 768,445 62,942 831,387 Nel movement In funds. Ineluded in the above are as lollow8'. Incomlng rasources Resources expgnded Gair*$ and losses Movement in funds Unre•trl¢tèd funds General fund 33,368 147,3521 76,926 62.942 TOTAL FUNDS 33,36B {47.3521 76,926 62.942 Comparatlv•¥ for mov•ment In fund¥ Npf movem¢nl in fundg At 31,12.23 At 1.1.23 UnrestrFeted fund8 Gener81 fund 686.171 62,274 768.445 TOTAL FUNDS 686,171 82.274 768,445 Comparatlvt nel movement In funds. Induded In the above afy as foNows'. Int>)ming resources Resource5 e¥pended Galn5 and losses Movement in funds Unre8trlctod fund$ General fund 59.446 144.384} 67.212 62,274 TOTAL FUNDS 59.446 144.3841 67.212 82,274 Pagell continued...
THE SASHA FOUNDATION Note& to the Flnan¢lal Statèm&nts- ¢ontlnuèd for tho y•ar 8nd•d 31 De¢eMb•r 2024 13. MOVEMENT IN FUNDS- contTnu•d A current year 12 months and prior year 12 months combined posibon is as folbws.. Net movemenl in funds Al 31.12.24 Al 1.1.23 Unrèstrl¢tvd fund8 General fund 686,171 145,216 831,387 TOTAL FUNDS 686,171 145,21e 831,387 A current ye8r 12 months and prfor yèar 12 months combine¢J nel movement In funds. lTh¢luded in the above are as follow$'. Incoming resourc68 R$sources expended Galns and losses Movement In funds UftreBtrletvd lund8 Gon?r81 fund 92,814 191,7361 144,138 145.216 TOTAL FUNDS 92.814 191.7361 144,138 145,216 14. RELATED PARTY DISCLOSURES The donations In the yeAi were received from the trustee5. Page 12
THE SASHA FOUNDATION Dètailed Statement of Flnanclal A¢tlvlt19$ forthe year¢nded 31 D¢e•mber 2024 2024 Unrestricted fullds 2023 Total fund5 INCOME AND ENDOWMENTS Donatloni and 1ggacl?5 Donations Gift aid 26,000 6.500 54,000 5.000 32,500 59.000 Inv¢s¢ment Income Interest receNiabl8 868 446 Total In¢omlng rtrsources 33.368 59.446 EXPENDITURE Charitable actlvltlo8 Giants to Institutions 40.030 37,515 Support cost¥ FlnAn¢• Investment charges 4,622 4,394 Informatlon tochnology Website ¢06t8 30 60 Governance co¥t6 AoUnt¥nCY and leg81 fees 2.470 2,415 Total resovrces expended 47.352 44,384 Net Incom• before galns and 1068es 113,9841 15,062 Roallsèd re¢ognlsed galn¥ and losses R891ised gaSnsl{1¢)55esl on fLxed assel Investrnts 76,926 67,212 Net in¢ome 62.942 82,274 ThSs page does not form part of the slatulory financlal statements Page 13