**REGISTERED COMPANY NUMBER: CE027556 (England and Wales) REGISTERED CHARITY NUMBER: 1197049**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2025**
## **FOR**
## **SALOMAN FOUNDATION**
Brindley Millen Limited Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
**SALOMAN FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 JANUARY 2025**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Report of the Independent Auditors**|5|to|7|
|**Statement of Financial Activities**||8||
|**Balance Sheet**|9|to|10|
|**Cash Flow Statement**||11||
|**Notes to the Cash Flow Statement**||12||
|**Notes to the Financial Statements**|13|to|18|
|**Detailed Statement of Financial Activities**||19||
**SALOMAN FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31 JANUARY 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2025. The trustees have adopted the provisions of 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**
## **Objectives and aims**
Saloman Foundation is a grant making charity, for general charitable purposes, that seeks to award grants to organisations, specifically other charities or voluntary bodies for the advancement of charitable purposes. The funding priorities of Saloman Foundation include relieving poverty and financial hardship, and the advancement of health, including both physical and mental well being.
Saloman Foundation is focused, inter alia, on assisting other UK based charities supporting those suffering from cancer or physical disabilities, charities carrying out research into the prevention and treatment of cancer, charities assisting disadvantaged children and teenagers, and charities assisting those suffering from emotional or psychological trauma. Where appropriate, it also seeks to help smaller charities where its donation will make a real difference.
## **Public benefit**
The trustees are aware of the Charity Commission's guidance on public benefit reporting as set out in Section 4 of the Charities Act 2011. The trustees believe that the charity will achieve a public benefit through the above stated objectives.
## **Grantmaking**
The charity's policy is to act in accordance with its constitution which enables grants and donations to be made from both income and capital. Saloman Foundation seek initiatives and projects which support : the young, the sick , the disadvantaged, and those suffering from emotional or psychological trauma. Trustee meetings to determine grant activity are held at least biannually.
It favours UK based charities registered with the Charities Commission operating in medical research, support for those suffering from trauma, and Jewish organisations (but not at the exclusion of others). Saloman Foundation is open to grant applications from both established larger organisations and from smaller newly established charities.
## **STRATEGIC REPORT**
## **Achievement and performance**
Saloman Foundation made it's first grants in the year ending supporting 13 UK based registered charities in line with Saloman Foundation's objectives and grant making policy.
## **Financial review**
## **Reserves policy**
Saloman Foundation intend to apply income by the award of grants in pursuit of it's charitable objectives, whilst maintaining capital reserves for more significant medium term projects, and to generate income in future years. At the balance sheet date net cash balances amounted to £3,573,684.
## **Going concern**
After making appropriate enquiries, the directors have a reasonable expectation that the charity has sufficient resources to continue operations for the foreseeable future. For this reason the going concern basis is adopted in preparing the financial statements.
Page 1
**SALOMAN FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31 JANUARY 2025**
## **STRATEGIC REPORT**
## **Principal risks and uncertainties**
The principal risks identified are financial in terms of the risk of fundraising approaches and cybercrime.
To safeguard against this, the charity incorporates a series of financial controls - including maximum limits on transfers from bank accounts, requirement for submission of receipts and explanations for any expenses, auditing of accounts, review of partner project accounts, and other well established financial and governance practices. The charity carries out financial and general due diligence on all partner organisations and prospective grant recipient organisations. The majority of grants made by Saloman Foundation are made under a grant offer letter with strict terms obligating the grant recipient organisation to account for the use of the money and to demonstrate both in their accounts and in the outcomes that the money was used in line with the budget.
## **Future plans**
Saloman Foundation is focused on establishing an investment portfolio to support its ongoing grant making activity, particularly in relation to supporting the young, the sick, the disadvantaged, and those suffering from emotional or psychological trauma. The charity seeks to maximise the impact of its grant making activity whilst expending interest or investment revenue received during the accounting period.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
New trustees are appointed for a period of 5 years. The power of appointing a new trustee or trustees hereof shall be vested in a majority in number of trustees. The charity will make available to any new charity trustee, a copy of its current constitution, a copy of its latest Trustee's annual report and statement of accounts, and copies of all relevant policies.
## **Key Management Remuneration**
The Trustees are considered the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give their time freely and no trustee received remuneration during the year.
## **Risk Management**
The trustees regularly undertake a review of the major risks to which the charity is exposed. In so doing, the charity has incorporated a series of financial controls, including limits on transfers from bank accounts, regular review of bank statements, review of partner accounts, and comprehensive background due diligence on organisations before grants or donations are offered.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE027556 (England and Wales)
## **Registered Charity number**
1197049
## **Registered office**
29 Etchingham Park Road Finchley London N3 2DU
## **Trustees**
P N Neumann Chair M L Sherman Ms S Cao
Page 2
**SALOMAN FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31 JANUARY 2025**
## **REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary**
P N Neumann
## **Auditors**
Brindley Millen Limited Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
## **Bankers**
Natwest 250 Bishopsgate London EC2M 4AA
## **STREAMLINED ENERGY AND CARBON REPORTING**
The Charity's energy consumption was under 40,000 kWh and so is exempt from any reporting requirement.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Saloman Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity 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;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Brindley Millen Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Page 3
**SALOMAN FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31 JANUARY 2025**
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 04/11/2025
## P N Neumann
..........................................................................P N Neumann (Apr 11, 2025 21:32 GMT+8) P N Neumann - Trustee
Page 4
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SALOMAN FOUNDATION**
## **Opinion**
We have audited the financial statements of Saloman Foundation (the 'charitable company') for the year ended 31 January 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 January 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 5
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SALOMAN FOUNDATION**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are those covered by the Statement of Recommended Practice for Charities (SORP 2019) and the Charities Act 2011. We assessed the risk of material misstatement in respect of fraud by making enquiries of management and trustees and by testing the implementation of accounting controls in place.
Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above by making enquiries with key personnel and reviewing relevant documentation such as minutes of Trustee meetings and correspondence with regulatory bodies. We also considered, and tested for, the possibility of unauthorised payments to related parties.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Other matters which we are required to address**
As this is the first year that an Audit has been required, it should be noted that the prior year comparatives are unaudited.
Page 6
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SALOMAN FOUNDATION**
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Brindley Millen Limited Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 167 Turners Hill
Cheshunt Hertfordshire EN8 9BH
04/11/2025 Date: .............................................
Page 7
## **SALOMAN FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 JANUARY 2025**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Grants issued
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.1.25
Unrestricted
fund
£
2,967,714
59,425
3,027,139
51,015
600
51,615
2,975,524
609,067
3,584,591|31.1.24
Total
funds
£
608,220
1,267
609,487
-
300
300
609,187
(120)
609,067|
|---|---|---|
The notes form part of these financial statements
Page 8
## **SALOMAN FOUNDATION**
## **BALANCE SHEET 31 JANUARY 2025**
|Notes
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|31.1.25
Unrestricted
fund
£
11,507
3,573,684
3,585,191
(600)
3,584,591
3,584,591
3,584,591
3,584,591
3,584,591|31.1.24
Total
funds
£
-
609,368
609,368
(301)
609,067
609,067
609,067
609,067
609,067|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
04/11/2025 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
## P N Neumann
P N Neumann (Apr 11, 2025 21:32 GMT+8)
.............................................
The notes form part of these financial statements
continued...
Page 9
## **SALOMAN FOUNDATION**
## **BALANCE SHEET - continued 31 JANUARY 2025**
P N Neumann - Trustee
The notes form part of these financial statements
Page 10
## **SALOMAN FOUNDATION**
## **CASH FLOW STATEMENT for the Year Ended 31 JANUARY 2025**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Interest received
Net cash provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|31.1.25
£
2,904,891
2,904,891
59,425
59,425
2,964,316
609,368
3,573,684|31.1.24
£
608,001|
|---|---|---|
|||608,001|
|||1,267|
|||1,267|
||||
|||609,268
100|
|||609,368|
The notes form part of these financial statements
Page 11
## **SALOMAN FOUNDATION**
## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 JANUARY 2025**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Interest received
Increase in debtors
Increase in creditors
**Net cash provided by operations**|31.1.25
£
2,975,524
(59,425)
(11,507)
299
2,904,891|31.1.24
£
609,187
(1,267)
-
81
608,001|
|---|---|---|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank
**Total**|At 1.2.24
£
609,368
609,368
609,368|Cash flow
£
2,964,316
2,964,316
2,964,316|At 31.1.25
£
3,573,684|
|---|---|---|---|
||||3,573,684|
||||3,573,684|
The notes form part of these financial statements
Page 12
**SALOMAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 JANUARY 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Debtors and creditors receivable/payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.
## **2. DONATIONS AND LEGACIES**
|Donations
Legacies|31.1.25
£
-
2,967,714
2,967,714|31.1.24
£
220
608,000|
|---|---|---|
|||608,220|
continued...
Page 13
**SALOMAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 JANUARY 2025**
|**3.**|**INVESTMENT INCOME**||||||
|---|---|---|---|---|---|---|
|||||31.1.25||31.1.24|
|||||£||£|
||Deposit account interest|||59,425||1,267|
|**4.**|**CHARITABLE ACTIVITIES COSTS**||||||
|||Grant|||||
|||funding|of||||
|||activities||Support|||
|||(see note||costs (see|||
|||5)||note 6)||Totals|
|||£||£||£|
||Grants issued|51,000||15||51,015|
|**5.**|**GRANTS PAYABLE**||||||
|||||31.1.25||31.1.24|
|||||£||£|
||Grants issued|||51,000||-|
||In year, Grants totalling £51,000 were made to UK based Institutions (2024: Nil).||||||
|**6.**|**SUPPORT COSTS**||||||
|||||Governance|||
|||Management||costs||Totals|
|||£||£||£|
||Other resources expended||-|600||600|
||Grants issued|15|||-|15|
|||15||600||615|
|**7.**|**AUDITORS' REMUNERATION**||||||
|||||31.1.25||31.1.24|
|||||£||£|
||Fees payable to the charity's auditors for the audit of the charity's financial||||||
||statements|||600||-|
continued...
Page 14
**SALOMAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 JANUARY 2025**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 January 2025 nor for the year ended 31 January 2024.
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||||Unrestricted|
|---|---|---|---|
||||fund|
||||£|
||**INCOME AND ENDOWMENTS FROM**|||
||Donations and legacies||608,220|
||Investment income||1,267|
||**Total**||609,487|
||**EXPENDITURE ON**|||
||Other||300|
||**NET INCOME**||609,187|
||**RECONCILIATION OF FUNDS**|||
||Total funds brought forward||(120)|
||**TOTAL FUNDS CARRIED FORWARD**||609,067|
|**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||31.1.25|31.1.24|
|||£|£|
||Other debtors|11,507|-|
Page 15
continued...
## **SALOMAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 JANUARY 2025**
|**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accrued expenses
**12.**
**MOVEMENT IN FUNDS**
At 1.2.24
£
**Unrestricted funds**
General fund
609,067
**TOTAL FUNDS**
609,067
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
3,027,139
**TOTAL FUNDS**
3,027,139
**Comparatives for movement in funds**
At 1.2.23
£
**Unrestricted funds**
General fund
(120)
**TOTAL FUNDS**
(120)|31.1.25
£
-
600
600
Net
movement
in funds
£
2,975,524
2,975,524
Resources
expended
£
(51,615)
(51,615)
Net
movement
in funds
£
609,187
609,187|31.1.24
£
1
300
301
At
31.1.25
£
3,584,591|31.1.24
£
1
300
301
At
31.1.25
£
3,584,591|
|---|---|---|---|
|||3,584,591||
|||Movement
in funds
£
2,975,524||
|||2,975,524||
||||At
31.1.24
£
609,067|
||||609,067|
Page 16
continued...
**SALOMAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 JANUARY 2025**
## **12. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
609,487
**TOTAL FUNDS**
609,487
A current year 12 months and prior year 12 months combined position is as follows:
At 1.2.23
£
**Unrestricted funds**
General fund
(120)
**TOTAL FUNDS**
(120)|Resources
expended
£
(300)
(300)
Net
movement
in funds
£
3,584,711
3,584,711|Movement
in funds
£
609,187
609,187
At
31.1.25
£
3,584,591|
|---|---|---|
|||3,584,591|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
3,636,626
3,636,626|Resources
expended
£
(51,915)
(51,915)|Movement
in funds
£
3,584,711|
|---|---|---|---|
||||3,584,711|
continued...
Page 17
**SALOMAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 JANUARY 2025**
## **13. RELATED PARTY DISCLOSURES**
The aggregate total amount of donations by Trustees to the charity during the year was £2,956,207 (2024: £608,220)
Page 18