CHARITY REGISTRATIOM NUMBER: 1197961 Sows Charity Financial Statements 31 January 2025 BRINDLEY GOLDSTEIN LIMITED Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN
Sows Charlty Financlal Statements Year ended 31 January 2025 Paga Trustees, annual report Independent audltorfs report to the members Statement of fsnancial activities Statement of financial position Statement of cash fk)ws Notes to the financial statements 10 The foll¢Ing pages do not foTm part ol the flnanclal statomonts Detailed statement of financial actlvltles 16 Notes to the detailed statement of financial aGtivlties 17
Sows Charlty Trustses, Annual Report Y•ar ended 31 January 2025 The trustees prosenl thelr rewrt and the financial staternenls of the charlty for the year erKled 31 January 2025. R•for•n¢o •nd admlnlstratlve dotalls Rè0l8tsred charlty nam• Sows Charity ¢harfty règlstratlon number 1197951 prtnclpal offl¢• Flat 3, May C¢urt Founlayne Road London N16 7EB Th• tru8t• Mr Davld Grauman Mr Davld L8nde8man Mr Yaakov Yosel Melr Ivohl Audttor Brindléy Goldsteln Llml Chartered aceountsnts & 818lutory audltor 103 HSgh street Waltham Cro88 EN8 7AN Structur•i gov•rnanc• and managoment T Charlty18 conlrollgd by116 govemlng dcrtument a Daad dated 17 February 2022 and con8lilule6 an unlncorporaled ¢harlty. The tru$lo08 admln18ter the day-loday affalrs of the Chadty. Nono ol the Trustee8 have any bgnefi¢ial Interest In the Ch8rlty. ObJ•ctlves •nd actIvItl The Charlty's objective 1$ lo provlde opportunlll88 lo develop finandal Ilteracy and entrepreneurial sklll8 lo mollvaled Indlvldua18 who want to becom8 88lf-8ufficienl. We 888e thi8 proc888 by provldlng finan¢ial and emollonal b008t8 In the Inltlal stage and durlng crfso8 or hard Ilma$ to bènefll Ihemsefves and IheSr dgpgnd•nt8. Achlevements and p•rfomian¢e The charty continued lo reGelvé donation8 durfng the year and thus was ak4e to contlnue with the programme of grants lo Individuals and organisatlons. The aggregate don8tlon8 recelved durlng the year were £2,948.181 {2024'. £580,457). No change of acllvilles is envisaged in Iho immedlale future. Flnanclal r•vlew Tho ffin8ncial results of the Charlty's actlvttles for the year rèllected In the attached fflnandal Stat8ments together wfth the notes Ihereon.
Sows Charity Trustses. Annual Report Year ended 31 January 2025 Trust••s' respon$lbllltle8 8tat•m•nt The trustees are responslble for preparfng th8 trustees, report and the financial ststemerrts in accordance wllh applicable law and United Klngdom Ac¢ounting Slan¢Jards (United Klngdom Generalty Accepted Accounting Praciice}. The law applicable to charities in England and Wales requlres th8 tharfty trustees to prepare financlal Slalements for each year which give a true and fair view of the state of affairs of the tharfty and of the Incoming re80urces and application of resources, of the Gharity for that perlod. In preparing these financial statements, the trustees are required to: select suitabl¢ accountlng policies and then apply them consistently. observo the methods arKI prindples in the applicable Charities SORP. make judgments and accounting estimate8 that are reasonable and prudent" state wtsther appllcable UK Accounting Stsndards have been folltrued, subject to any matsrial departures disclosed and explained in the financial Statlents. prepare the financial st8lements on the going concern basls unl8ss il is inappropriate to presume thal the charity will continue in IsIn•S$. The trustees are responsible for keeplng adequate awountlng records that are sufficient to show and explain the charity's Iransadons and disclose with reasonable accuracy al any time the financial )silion of the charity and enable them to ensure that the financial ststements comply with the Charitie5 Act 2011, the appltcable Charities (Accounts and Report8) Regulations, and the provisions of the Ttust Deed. They are also responsible for safeguaTding the assets of the charity and hence for taklng reasonable steps for the Preventi¢ and detecllon of fraud and other iregularilles. The trustee8' annual report was approved on 27 Novembèr 2025 and signed on b8haW ofthe board of trustees by.. Mr David Grauman Trustee
Sows Charity Indepondent Auditorfs Report to the Members of Sows Charfty Year ended 31 January 2026 Oplnlon We have audited the finartial statements of Charity lthe 'charity? for the year ended 31 January 2025 which comprise the statement of financial activities. glatement of finaneial position. ¥tatement of cash flows and the reloled rles. irKauding a summary of signrfvnt accowbting policies. The fin8rKial reporting framffwork Ihat has been aPled n their preparation is alcable law arKI United Kingdom Accountiro Standards. irud FRS 102 The Financial Reporting Standard aFplicalJe in the UK and Republ of IrelwKI (United Kmgdom Gwalty Actepted Ang Pra¢tice). In our oplnion Ihe financial Statements.. gNe a true and fair VI of the stale of the chty$ affwrs as at 31 January 2025 and of bts incoming resources and applieattr)n of resources, irtluding its inC¢e and expenditure, for the year than ended: Aceounbng Practice", hav8 been wepared in accord the reqLrrirem•ts ofthe Charikne5 2011. Basls for oplnion We conducted our au(Jit in accdae ilh IntematKThI St5 on Auditing {UKI IISAS {UKI) and applkable law. Our responsilmlilies under trK)se standards are futher described in the auditoffs responsibileS for the audrt of the fin8nual statements seGtion of our rem We are independent of the charity in ardae the ethKJ requirements that are rean1 to our art of the financial statements in the UK. indudlng the FRC'S Ethical Slandard. and we have fuffilled our other ethical reSponbilItieS in accordance tphth these requirements. Wle believe that the audit wdence we have c4Aained is Sufficient arKI to a basis for w opini1. Concluslong rol•tlng to golDg concern In alitIng the financial ststements. we have thduded that the trtee5, use of Ihe going concem basis of accounling in ts preparan of Ihe finMaal Stalemwts is aFprowiate. 8ased on the we have perfomied. we have noi identifd any material uncertainties relatbng lo events or conditsons thal. inthidualty or coNectri8ty, may casl signrficant doubt on the char$ ability to continue as a going corttm for a period of at least t*Elve m¢Jnths from when the finanual 8tatemerts ar8 aUtrISed for is$. Our responwbilthes and the respNtsitAlifies of the Inte$ thrylh respeLt to goiThJ concem are de8crlbed in the relevant secticns of this rewt.
Sows Charity Independent Audltorfs Report to the Members of Sows Charlty {contkn¥¢dl Ygar endad 31 January 2025 Other Inforniatlon The other Information comprises the infomallon included in the annuol report, other than the finanGi81 slatements and our aud0$ report thereon. The trustees are responsible for th8 Other infomalion. Our oplnlon on the financlal slatements does not cover the other informallon and, except lo the extent othoNA88 expllclty slated In our report, we do not expre¥s any fom of assurance conduslon thereon. In conn¢¢tlon wlth our audll of the financial statements, our responsibility 18 lo read the olher Informatson and, in dolng so, conslder vthelher the other Infomalion is materially incons1st•nt with thg financial $tstemenls or our knowledge oblalned in the audit or othe1$e appears to be materially misstated. If we idenllfy such m8lerial inconsi$tgnde8 or apparent mateflal mis$tst8ments, we are required lo dalemiine whether there 18 a matertal mlsslatement in the financial Stsleménts or materSal misstatement of the other Infomialion. If. based on the work we have perfomied. we Gonclude that thère Is a materlal misslalemenl of thls other Information. we are requlred to report that fact. We have nothlng lo report In thi8 regard. Mattorn on vknlch w• •ro r•qulr•d to r•port by exc•ptlon In tho Ilghl ol the knowledge and under8l•ndln9 of th• ¢harlty and 118 environment obtalned In the cour88 of tho audll. we have not Idonllfled materfal mlsstatemenls In the Iru8tee¥' report. Wa have nothlng to report In rpeCt of the followlng matt8rn In relaOn to %thlch the charl1$ Act 2011 requlres us lo repot lo you il. In our oplnlon.. the Informatlon qlvon In tho tru81ee8' report IJ InGon8lslenl In any matorlal r8sp8¢1 ¥th the frnnclal 8tslem•nts', or adequato accountlng records have not been kept,. th• financial 81alemenl8 are not In agreement wlth Ihe a¢¢ountlng ra¢ord8 arnl retum8.' or we h8v• not recelved all the Infomallon and axplanatIty we requlre ftjr our audlt. Re¥pon•lbllltlg$ of tru•to A8 explained more fully In th¢ tru81ees' r8spon81bllilles statemonl. the tru$l888 are mponslblè for the preparation of tha financlal ststemenls and for bglro 58118fied that they givè 8 true and falr vlew, and for Such Inlèmal control as the trustees dglemlne Is nece$88ry 10 enable the proparallon of finarKlal Btatemenls that are frn¢ from m8twial mlsslalement, whether due to fraud or error. In preparing thg flnancial statements, the trustees are re8pon$lble for a$8e$$lng the th8rtty's abillty to continue 88 8 golng concern. dlsdoslng, as appliGable, matters related lo golng concern and using the golng con¢em basis of accounting unless th6 trustees elther intend to Ilquidate Ihe thanty or to ce880 operations, or have no reISt* artemative but lo do 80.
Sows Charity Ind•pendent Auditorfs Report to the Members of Sows Charity f¢oniinuedJ Year ended 31 January 2025 Audltotrs r•sponslbllltl•8 for the audit of thé financlal statements Our objeclive5 are to obtain reasonable assurance about whether the finanGial $lalemenls as a whole are free from malerial misstatement, whether due lo fraud or error, and lo issue an auditor's r8POrt that Includes our opinion. Reasonable assurance is a high level of assuranrE. but is not a guarantee that an audit corKlucted in attordance with ISAS {UK} wlll always detsct a malerlal misstslemenl when it exists. Misstatements ¢an arise from fraud or error and are consldered material if. individually or in the aggregate, they could reasonably be expected to Influence the economi¢ dedsions of LFsers taken on the basis of these finanaal ststemenls. Irregularities, induding fraud, are Instance$ of non-compliance with laws and Tegulallons. We deslgn procedures in line vlth our responsibilities. outllned alKsve. to detect material misstatements in respect of irregularities. including fraud. Th& extent to 1¢h our procedures are capable of detecting Irregularities, induding fraud is detailed below.. Identifying and lesling ioumal entries and the overall aceounting records, particularty those that were SD3nific8nt and unusual. RevievAn9 the financial statement disdosures and detemiining whether accounting policles have been 8pproprialety applied. Assessing the extent of eompllance. or lack of, with relevant laws and regulations. Testlng key revenug lines, for evidence of management bias. Verificatlon of key assets. Obtsining thlrd-party confirmation of material balances. DorJJmenting and verifying all slgnificant related paity balances arKI transactions. Reviewing documentation suth as the company board minutes. correspondence with $olkltors, for discussions of irregularities including fraLKI. As part of an audit in accordan¢e wth ISA5 (UK), we exercise professional judgment and malntaln professtonal scepticism throughout the audit. We aiw". Idfy and assess the risks of material misslalement of the financial statements, whether due to fraud or error. design and perfomi audit procedures responslve to those risks. and obtain audit èvidence that is sufficient and appropriate to provlde a basis for wr opinion. The risk of not detecting a material misslaloment resulting from fraud is higher than for one resulting from error. as fraud may involve collusion. forgery, intentional omisSn$. misrepresentations. or the overrfde of internal contrd. Obtain an understanding of intemal control relevant lo the audit In order to de$ign aud procedures that are approprlale in the Gircumstances. but not for the purpose of expressing an opinK)n on the effectivenes5 of the internal control. Evaluate the apprcfsrialeness of a¢untIng policies used and the reasonableness of accounting estimates and related disdo$ures made by the trustees.
SovvJ Charlty Independent Audltorfs R•port to the Members of Sows Charity (c1>eI Year ended 31 January 2025 Conclude on Ihè apwoprlateness of the tnJslees' use of the goi c(Yw basls of accounting and. based on the aJit evitsrKe obtained. whether a material UrtaInty exi5t5 related to events or CondOn$ that may cast signrfKant dwbt on the drIty'S abilty lo o)ntinue as a going ¢oncem. If we condude that a merial uncertanty e>ists. we are required to draw attention in our aLJito¢s repmxt to the related discb)sures in financial statements or, if sud) disdosures are inadequate. lo modify our oFinK)n. Our ¢u5)n$ are based on the aUrt ewdence obtsined up to the date of our auditorfs rep)rL Hwver, fUle events or condiiions may cause the tharity to cease to rthlinue as a going cortcem. Evaluate the overall presentation, strucbJre arKI content ol the finarKrdl statements, indu(fing the dithsures. and whethér the financk41 ststements rewewt the undertywi9 transactions and events in a mannerthat xhEves fair weSent. We Mmunal8 with trwe charged wrth g)vemance regarding. aMcg other matters. the planned scope and timing of the audit and $hJnfficant au(&t induthng significant deficiencies in intemal control that we idenbfy during our Use of our report This report is made solety to Ihe members, as a boty. in aCdare wrth seclion 144 of the Charities Act 2011 and regulations made under seclion 154 of that kt. Our audit work ha8 been urKlertaken so that we migm state to Ihe chanty's members those matters we are required to state to Ihem in an aLNJitorfs report and for no other purK)se. To the fullest extent pemiitted by law, we do not accept or assume responsibilty lo any¢ olher the drity arKI the char*¢s members as a tody, for our audil w(wk, for this report. or for the opirions we have fornd. Mr Charles Gddsteln (Senlor Stalufyy AKlilor) For and on bthaff of 8rindley Goldstein Limited Chartered accountants & statutory aLvJitor 103 High street Waltham Cross EN8 7AN 27 November 2025
Sows Charity Statem•nt of Financial Actlvitles Year ended 31 January 2025 2025 Unre$lri¢ted funds Total funds Total fvnds 2024 Intome and ondowments Donallons and legacies Total Income 2,948,181 2,S48.181 580,457 2.948,181 2.948.181 580.457 Expondlture Expenditure on charftsble actwitiès Total oxpendlture 5.6 2,947.461 2,947,461 2.947,461 2,947,481 589.090 569,090 Net Incom• and not movom•nt In funds 720 720 11.367 R•conclllatlon of funds Totsl funds brought forward Total fundg carrfed forward 13,090 13.090 1.723 13,810 13,810 13,090 The ststement of finandal activities Indudes all gains and losses recognlsed in the year. All income and axpendlture derive from continuing acllvlties. The not•8 on paq•J 10 to 14 forn7 part 0fth9 financlal 8tat¢m•nts.
Sows Charity Statsment of Flnancial Position 31 January 2025 2026 2024 Current assets Debtors Cash at bank and In hand 11 19,801 19.810 14,401 14,410 Crodltorn: amounts falllng due wlthln one yr Net currnnt assets 12 6,¢JJO 13,810 13,810 13,810 1.320 13,090 13,090 13.090 Totsl assets 188s curront Ilabllltlgs N8t assots Funds of the charlty Unrestricted funds 13.810 13.090 Totsl charlty funds 13 13.810 13.090 These financial statements were approved by the board of Injstees and aUtIrISed for issue on 27 November 2025. and are signed on behalf of the board by.. VKI Grauman Trustee The notss on pages 10 to 14 form part ofth•H flnanclal 8tat•m•nts.
Sows Charfty statement of Cash Flows Year ended 31 January 2025 2026 2024 Cash flows from operntlng actlvltlo8 Nel Income 720 11,387 Adjuslm8nts for Interest payable and olmliar charge¥ Accrued expense¥ 4,560 4.680 800 Changes In.. Trade ar other debtors Ca8h gengrated from op6raUon8 {91 11,958 9,980 Interest pald Net cash from wrallng advltlgs 14,5601 5,400 11.958 N•t Incrna8e In ¢uh and c••h •qulval•nt• C••h and cash gqulval•nts •t b•glnnlng of y•ar C••h and (ash •qulvalent8 at ond of year 11,958 2.443 14.401 19.801 14,401 Th• ort PA0 10 to 14 fomi part ofth•M Ilnan¢lal 8t4t•m•nts.
Sows Charity Nots8 to the Flnanclal Ststsments Year ended 31 January 2025 Ggn•ral Informatlon The charlty Is a public benefit entty and a registered charity in England and Wales and is unincorporated. The address of th¢ prlndpal office is Flat 3, May Court, Fountsyne Road, London. N16 7EB. Statem•nt of ¢ompllanG• These flnancial statements h8v8 bean prepared In ¢ompllance vhth FRS 102, Th¢ Flnancial Reportlng Standard appllrAbl8 In th• UK and Ihe Republic of Ireland,, the Stolemenl of Recommended Practic8 appllcable lo charilles preparing thelr accoun1$ in accordance wllh the Flnanclal Reportlng Standard appllcablè in the UK and Républlc of Ireland IFRS 1021 ICharllle8 SORP (FRS 102}l and tho Charities Act 2011. A¢¢ountlng poll¢lo8 B••l8 of pr•paratlon The financl81 stemenl8 have been prepared on the hlstOfic81 t>)8t bas18, as modffied by th• revaluatlon ol c8rtaln financlal a88ets and Ilabllllle8 and investment propertle8 measured at falr valu¢ through Income or expendltur6. The financial 8tatemen18 are prepared In sl•rlln9, whl¢h 1$ the functional currency of the enw. Golng ¢oncern There ITO no materlAI un¢ortalnlle8 aboLrt th• chorlty'8 ablllty lo conllnue. Judgom•nt• and k•y •ource• of utlmatlon uncertalnty There 8r• no judgement8 and 8811males. Fund •ccountlng Unr88trfct•d fiJnd8 arg avallable for uae al the dlscr8tlon of t tru$t•68 to lurther any of the ch8rty'8 purp0888. De8ign8t¢d funds are unre$trl¢ted fund8 oormarked by the truste for partlculgT lulure profvct or cammitmenl. Reslrlcted fvnds are Sublected to restrfcion8 on thelr expendSluTe dlared by thg donor or through the tem$ of an appeal, and fall Into one of hvo sub-dasses.. rostricted Income funds or endowment funds. 10
Sows Charity Notes to the Flnanclal Statements fconttnwdj Year ended 31 January 2025 Accountlng pollclgs f¢onllRuodJ InGomlng resourGo• Al Incomkng re80urces are Inded In the statement of flnandal 8ctivf(ies when enlitlemenl has passed lo the charity,. It Is probablè that the economiG benefits associated wth tho transaction 11 flow lo the ch8rfty and the amount Can bè r8llably measured. The followlng specffi¢ policles are applled to partlcular categorl88 of income.. Income from donatlon8 or grants18 recognl$ed when there io evldence of enlltlement to the glft, recelpl Is probable and Its amount can measured reliabty. legacy income Is recognl$&d when receipt 18 probable and •ntlllemenl18 e8tabllshed. Income from donalod goods 18 measured at th? falr value of the good8 unless Ihl8 1$ Impr8Gllcal to mea8ure rellably. In which essa the valug 1$ derlved from tho ¢o$l lo the donor or the estimated r•$al8 value. Don8t¢d ladlllle8 and servlces oro racognl8ed In the account$ whon recelv8d If the value can be rollabty m•a8ured. No amounts 8re Induded for the conlrlbutlon ol general volunteers. In¢ome from conlr8Cts for the gupply of 8ervlce8 Is recognised wfth the dellvery of Ihg onlr8Cted 8ervio. Thls 18 da$$ifi6d as unr88tdcted funds unl•sB there 1$ a conlra¢tual requiremonl fer11 to be $p8nt on a partlcular purpose and rotumed If umpenl, In whlch case 11 may bs rog8rded as reslrfcled. Role•8 oxpend•d Expendilur818 recognlsed on an accruals baslo as a IlabllSty 18 In¢urred. Expendllure Includes any VAT whlch cannot be fully focovered, and 1$ da$$lfl8d und•r headlngs of tho 51olement of fln8nclal athltl*B lo whlch11 ro18te8'. oxpendlturt on ral8lng funds Indud88 the cojls of all IKIral$ln9 actlvltle8, ev•nt8, non-¢harltablg trading a¢llvllle8, and th• 18le of donated good8. expendkure on charflable actlvllles InCIL8$ all costs Incurred by a ¢harlty in undgrt8klng actTvllles that further 118 charitsblo alm8 for the ben6fl1 of118 beneficlaries. Includlng those support C0818 and ¢0818 relallng to thè govomance of the charfty apportlonad to charltab actltIeS. other expendthre Includ¢$ all expendilurg that Is nelther rolated lo ra181ng lund8 for the arfly nor part of Its expendlture on charllable activllies. All costs are allocol¢d to expandUre ¢alegorles relledng the u8e of the resourcè. Dlrect costs attrlbLtsble lo a single activity are allocated directly lo that aclivlty. Shared cost5 ore apportloned betrween the a¢tlvllle8 they conlribule to on a reasonable, Ni8llfiable arKI con$lstenl basls. 11
Sows Charlty Notes to tho Flnancial Statements l¢tythw Year ended 31 January 2025 Accountlng polklg5 Donatlons and legacl LknreStr1 Total Funds Unrestricted Totd Funds Fur 2025 FuTrJs 2024 Donatlo Donaw$ 2.948.181 2.948.181 580,457 $80.457 Expendlture on charltable acllvltl•s by fund type Unrestsicbj Total Funds Unrgstricted Total Funds Furbjs 2025 Funds 2024 Charitable activilies Supwt costs 2,941,459 6.C(12 2.947.461 2.941.459 6.th)2 567,769 1,321 567.769 1.321 2.947,461 569.090 569,090 12
Sows Charity Notss to the Flnancial Statements (cont Year ended 31 January 2025 Expendltur• on charltsble actlY5tlo8 by actlvlty typ• Actlvllles undgrtaken dlreclly Support Tol•l fund• 2025 Tol81 fund 2024 Charitable actfvitles Govemanco ¢0$ts 2,941,459 2,941,459 6,002 2,947,481 567,769 1,321 589,090 8,002 6.002 2,941.459 Audltor• rnmuneratlon 2026 2024 F8 payable for the audlt ol the ffinanclal 8181gment8 Ind•p•nd•nt •xamlnatlon fo 2026 2024 F888 payable to the Independent examlner for.. Indep¢ndenl examknallon of the finalalsleMentS 540 Staff ¢ost8 Tho average head count of employee8 durlng the year wa8 Nll {2024'. NIII. No employeo recelved employee b8neflt8 of more than £60,000 durtng the year {2024: NII). 10. Trusts• r•muneratlon and exp•ns•8 There wore no tru618, remuneratlon or other benefits durfng the year ended 31 January 2025. There re rK) tW81ee8' expen8e8 pald for durlng the year ended 31 Januory 2025. 11. Dobtorn 2020 2024 Loan8 12. Credltorn: amounts f•lllng due wlthln on• y••r 2026 2024 Accruals and deferred Income 6,000 1,320 13
Sows Charity Notes to the Flnanclal Statements l¢onWnu8dJ Year ended 31 January 2025 13. Analysly of charltablè fundg Unrestrlctsd funds Al 1 February 2 024 At 31 January 2 026 Income Expenditur• General fvnds 13,090 2.948,181 (2.947,4611 13.810 1 Fgbruary 2 023 31 January 2 024 Income Expenditure General funds 1,723 580.457 1569.090) 13.090 14. Analysis of net a$$èts between funds Unrestricted Total Funds Funds 2025 Cuent assets Creditors less than 1 year Nèt assets 19.810 {6,000) 13,810 19.810 (6.000) 13,810 Unrestri¢ted Total Funds FurKIs 2024 Current assets Creditcrfs less than 1 year Not assets 14.410 11,320) 13.090 14.410 11,3201 13,090 15. Analysls of changes In net debt At At 1 Feb 2024 Cash fl¢) 31 Jan 2025 Cash at bank and in hand 14,401 5.400 19.801 14