**Charity registration number 1195679**
## **THE SEMBLE GRASSROOTS TRUST**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **THE SEMBLE GRASSROOTS TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
Y Ogden S Thorp R Kothari 1195679
## **Trustees**
**Charity number** 1195679 **Company number** CE026569 **Principal address** 3 Garrick Street First Floor London WC2E 9BF
**Independent examiner**
S&W Partners Audit Limited 22 Wycombe End Beaconsfield Buckinghamshire HP9 1NB
## **THE SEMBLE GRASSROOTS TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
## **THE SEMBLE GRASSROOTS TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
The Trustees present their annual report and financial statements for the year ended 31 August 2024.
The charity was first registered on the 1 September 2021 and commenced its charitable activities on 1 March 2022.
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 trust's constitution, the Charities Act 2011 and "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)" (effective 1 January 2019).
## **Objectives and activities**
The primary objective of theTrust is to support, enable and empower local grassroots community organisations throughout the United Kingdom to deliver charitable projects and services for the public benefit through the provision of grants.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
During the year the Trust made 60 donations and supported 60 grassroots organisations.
## **Achievements and performance**
## **Financial review**
During the year the charity received donations of £360,293 (2023: £238,449) and paid out grants of £311,210 (2023: £348,126). After grant administration and support and governance costs of £5,293 (2023: £4,038) were paid, the charity had restricted funds of £74,186 (2023: £30,396).
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a low level as support will be provided from Actionfunder Limited (formerly known as Semble Networks Limited) to ensure that the administration costs of the charity will be covered while the charity is getting started. The support given this year amounted to £5,293 (2023: £4,038). The trust are considering ways to make the charity self sufficient and to generate unrestricted reserves.
## **Structure, governance and management**
The trust is a Charitable Incorporated Organisation and as such is not limited. If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The Trustees who served during the year and up to the date of signature of the financial statements were: Y Ogden S Thorp R Kothari
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
None of the Trustees has any beneficial interest in the company.
- 1 -
## **THE SEMBLE GRASSROOTS TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources of the trust for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees' report was approved by the Board of Trustees.
Y Ogden **Trustee**
30 June 2025
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## **THE SEMBLE GRASSROOTS TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE SEMBLE GRASSROOTS TRUST**
I report to the Trustees on my examination of the financial statements of The Semble Grassroots Trust (the trust) for the year ended 31 August 2024.
## **Responsibilities and basis of report**
As the Trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a fellow of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts 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 financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
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 trust as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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.
## **Keir Singleton S&W Partners Audit Limited**
22 Wycombe End Beaconsfield Buckinghamshire HP9 1NB
Dated: 30 June 2025
- 3 -
## **THE SEMBLE GRASSROOTS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
5,293
355,000
**Total income**
5,293
355,000
**Expenditure on:**
Charitable activities
**3**
5,293
311,210
**Total charitable**
**expenditure**
5,293
311,210
**Net income/(expenditure) and**
**movement in funds**
-
43,790
**Reconciliation of funds:**
Fund balances at 1 September
2023
-
30,396
**Fund balances at 31 August**
**2024**
-
74,186|**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
360,293
4,038
234,411
238,449
360,293
4,038
234,411
238,449
316,503
4,038
348,126
352,164
316,503
4,038
348,126
352,164
43,790
-
(113,715)
(113,715)
30,396
-
144,111
144,111
74,186
-
30,396
30,396|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **THE SEMBLE GRASSROOTS TRUST**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2024**_
|**2024**
**Notes**
**£**
**Current assets**
Debtors
**9**
2,063
Cash at bank and in hand
89,041
91,104
**Creditors: amounts falling due within**
**one year**
**10**
(16,918)
**Net current assets**
**Net assets excluding pension liability**
**The funds of the trust**
Restricted income funds
**11**|**£**
74,186
74,186
74,186
74,186|**2023**
**£**
4,763
31,513
36,276
(5,880)|**£**
30,396|
|---|---|---|---|
||||30,396|
||||30,396|
||||30,396|
The financial statements were approved by the Trustees on 23 June 2025
Y Ogden **Trustee**
- 5 -
## **THE SEMBLE GRASSROOTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **1 Accounting policies**
## **Charity information**
The Semble Grassroots Trust is a Charitable Incorporated Organisation.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the trust's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. 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 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
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.
## **1.3 Income**
Income is recognised when the trust 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 trust 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.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
Governance costs and support costs relating to charitable activities have been apportioned based on the number of individual grant awards made in recognition that the administrative costs of awarding grants.
- 6 -
## **THE SEMBLE GRASSROOTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 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.
## **1.6 Financial instruments**
The company has elected to apply the provisions of Section 11 ”Basic financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
## _**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.
## **2 Income from donations and legacies**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations and gifts|5,293|355,000|360,293|4,038|234,411|238,449|
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## **THE SEMBLE GRASSROOTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **3 Expenditure on charitable activities**
||**Heading**|**Heading**|
|---|---|---|
||**#ac982**|**#ac982**|
||**2024**|**2023**|
||**£**|**£**|
|**Direct costs**|||
|Grant funding of activities (see note 4)|311,210|348,126|
|**Share of support and governance costs (see note 5)**|||
|Support|2,233|1,098|
|Governance|3,060|2,940|
||316,503|352,164|
|**Analysis by fund**|||
|Unrestricted funds|5,293|4,038|
|Restricted funds|311,210|348,126|
||316,503|352,164|
|**Grants payable**|||
||**Support to**|
**Support to**|
||**grassroot**|
**grassroot**|
||**organisations**|**organisation**|
|||**s**|
||**2024**|**2023**|
||**£**|**£**|
|Grants to institutions:|||
|Other|311,210|348,126|
## **4 Grants payable**
## Support to grassroot organisations
All grants made are to grassroots organisations across the United Kingdom to enable and empower them to deliver charitable projects and services for public benefit.
- 8 -
## **THE SEMBLE GRASSROOTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**5**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**2024**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
**£**
**£**
Administrative expenses
1,993
-
1,993
858
-
Bank charges
240
-
240
240
-
Independent examination
fees
-
3,060
3,060
-
2,940
2,233
3,060
5,293
1,098
2,940
Analysed between
Charitable activities
2,233
3,060
5,293
1,098
2,940
**6**
**Net movement in funds**
**2024**
**£**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
3,060|**2023**
**£**
858
240
2,940|
|---|---|
||4,038|
||4,038|
||**2023**
**£**
2,940|
## **7 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **9 Debtors**
|**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income|**2024**
**£**
1,263
800
2,063|**2023**
**£**
963
3,800|
|||4,763|
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## **THE SEMBLE GRASSROOTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **10 Creditors: amounts falling due within one year**
|Trade creditors
Accruals and deferred income|**2024**
**£**
13,978
2,940
16,918|**2023**
**£**
-
5,880|
|---|---|---|
|||5,880|
## **11 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1**|**Incoming**|**Resources**|**At 31 August**|**At 31 August**|
|---|---|---|---|---|---|
||**September**|**resources**|**expended**||**2024**|
||**2023**|||||
||**£**|**£**|**£**||**£**|
|Proud to Pitch In|25,971|355,000|(308,210)||72,761|
|Grassroot support|4,425|-|(3,000)||1,425|
||30,396|355,000|(311,210)||74,186|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|**At 31 August**||
||**September**|**resources**|**expended**||**2023**|
||**2022**|||||
||**£**|**£**|**£**||**£**|
|Proud to Pitch In|135,686|223,411|(333,126)||25,971|
|Grassroot support|8,425|11,000|(15,000)||4,425|
||144,111|234,411|(348,126)||30,396|
## **Proud to Pitch In**
The restricted funds relates to amounts received from Greene King to fund their "proud to pitch in" grants where Greene King's customer have the opportunity to nominate local grassroots sports organisations to receive grants typically up to £3,000. The Semble Grassroots Trust is administrating the payment of these grants on behalf of Greene King.
## **Grassroot support**
This fund relates to small amounts received from different funders to support grassroot organisations. The funder determines who received the grant. The Semble Grassroots Trust is administrating the payment of these grants on behalf of of the funders.
- 10 -
## **THE SEMBLE GRASSROOTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**12**|**Analysis of net assets between funds**||
|---|---|---|
|||**Restricted**|
|||**funds**|
|||**2024**|
|||**£**|
||**At 31 August 2024:**||
||Current assets/(liabilities)|74,186|
|||74,186|
|||**Restricted**|
|||**funds**|
|||**2023**|
|||**£**|
||**At 31 August 2023:**||
||Current assets/(liabilities)|30,396|
|||30,396|
## **13 Related party transactions**
There were no disclosable related party transactions during the year.
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