Charity number.. 1200018 SHROPSHIRE COMMUNITY FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 YWR Partners Protecting your future.
SHROPSHIRE COMMUNITY FOUNDATION CONTENTS Page Reference and Administrativa Details of the Charity, its Trusteos and Advisars Trustee5' Report Independent Examiner's Report Statement of Financlal Activltlgs Balance Sheet 10 Notes to the Financial Statom8nts
SHROPSHIRE COMMUNITY FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trusteès S Graham, Chair A Hairis R Martin lappoinled 1 November 20231 R Pemberton lappoinled 10 November 20231 B Powell S Roberts J Themans A Thorne lappoinled 26 March 20241 8 Welti lappoinled S April 20241 G Wynn lappoinled 17 September 20231 Charlty registered number 1200018 Prlnclpal officg Belmont House Sitka Drive Shrewsbury Shropshire SY2 6LG Accountants WR Partners Chartered Accountsnts Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 1
SHROPSHIRE COMMUNITY FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees psent their annual report together with the financial slalements ol the Charity for the year 1 April 2023 10 31 Mar¢h 2024. Objectives and activities a. Policies and objectives The Foundations principal objective is Ihe promotion of any charitable purpose for the benefit of the community or any part thereof in the county of Shropshire (including the borough of Telford and Wrekinl and ils imm¢diale neighbourhood., and in particular the advancement of education, the protection of good health Ibolh mental and physicall and the relief of poverty and sickness. In setting objectives and planning for aclivilies, the Tru51ees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, inclLJding the guidance 'Public benefit.. running a charity IPB21'. b. Strategies for achieving objectives Ongoing funding is necessary lo support the above objectives. This is achieved through the following channels.. The development of endowments, invested by our Investment Board to achieve growth lo allow for continuous funds lo flow lo those in our community who need il most. Donations from business which support the development of the foundation. The prudent use of these funds facilitates greater rnarkel awareness, improved partnerships with local charib'es and other stakeholder5 and more effective distribution of grants and associated reporting. Sponsorship and Grants from business and individuals which support personnel development and cover the cost of fundraising events. Remuneration from third parties who entrust the foundation ID administer grants on their behalf. c. Grant.Maklng pollcles The Shropshire Community Foundation ISCFI is an independent charitable trust. Our aim as a pla¢e-based funder is lo enable growth in communities and improve the qualily ol life of people across the ceremonial county of Shropshire through our granl-giving. We manage donations from individuals. companies, charitable trusts and slalutory bodies lo provide ILtnding lo individuals, and voluntary and community groups across Shropshire, Tellord &Wrekin. We encourage applications seeking funding from community groups of all sizes from across Shropshire, Telford and Wrekin. which will deliver benefits lo people dedi¢aled lo supporting and enhancing the well-being of communities within our area. We are commilled lo ensuring our granl-making is accessible lo all groups, especially those new lo grant funding or who are smaller and wholly volunleer-led. We also r&cognise that community and voluntary groups are particularly well-placed to identify and work with the most marginalised and underrepresented communities in Shropshire. Page 2
SHROPSHIRE COMMUNITY FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perfomiance Main a¢hlev¢m¢nts of th• Charity The High Sheriffs fund awarded 14 new grants ranging from £500 10 £1250 to local charities supporting the lives of young people in our Community. The Zac fund awarded 6 grants ranging from £1500 10 £3000 to young people with cancer related illnesses and charities supporting those people and their families. The Foundation has worked closely with the family of Dalian Atkinson lo establish a new Endowment fund, dedicated lo celebrating his lifelong passion for sports and ils positive impact on our Community. The aim of the fund is lo inspire young people lo actively participate in sports for their growth and wellbeing. A robust structure has been further ¢onsolidaled. Four new Trustees have been engaged lo add greater experience lo that already offered by our Patron, Trustees, Investment Board, Grants award team and Volunteers. Policies have been further developed to ensure compliance with Charity Commission guidelines. Effective governan¢o has been implemented across all activity areas to ensure transparency. impartiality and prudent management. A conlinuod and bmadening social media presence has helped to foster greater awareness of grant availability and provides greater visibility in tgrms of upcoming events, new communi¢alions and fundraising aclivilies. IT infraslrLJclure development has been significant. b. Invèstment pollcy and performanco The foundation has has appointed an Investment Board, which sils outside the trustee structure bul reports to and advises the Iruslees of tho Shropshire Community Foundation. The investment board lakes advice from investment professionals and fund managers appointed by thè foundation. The foundation operates a total relum model which aims to balance income and capital relums. The key objective is lo maximise return on investment whilst preserving the capital value of endowments. Page 3
SHROPSHIRE COMMUNITY FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Financial review a. Going concarn After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial slalemenls. b. Res&rves policy In line with Charity Commission guidanee, the Board ensures that a minimum of six months runnlng costs are held al any lime. The Shropshire Community Foundation's objective, however, is lo hold up lo an equivalent of on¢ year's running costs in unrestricted reserves lo enable grant making activity and lo work in a planned and Sustainable way. This recDgnises that there could be curtailment lo grant making activity from periodic gaps in funding, as funding flows are not always predictable. The lolal reserves al year end were £717,301 12023.. £611,840), ol which £664,943 was within endowed funds and £14,358 within r&stri¢led. Free reserves held al year end amounted lo £37.50012023.. £8.7471. Structure, governance and management a. Constitution Shropshire Community Foundation is a Charitable Incorporated Organisalion ICIOI, registered with the Charity Commission, charity number 1200018, and is conslituled under a Trust deed. b. Mgthods of appointmgnt or election of Trustees The manageinenl of the Charity is the responsibility of the Trustees who are elected and co-oplgd under the terms of the Trust deed. Page 4
SHROPSHIRE COMMUNITY FOUNDATION TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Iconllnuedl Organisational structur8 and de¢ision.making policlgs Patron Anna Turner, Lord.Lieutenant of Shropshire S•lina Graham I'chaiil (vsi 8onia Robotrts Johnny Themana B•n Pow•ll Ruth Martin Board of Trustees High Sheriff of ShTopshire L9Rdl 8rfan Welti JP D••n H•frf I'secreiaryl Roger P•mberton (ARC} Graham Yfynn Man¢ty Thorn IBEPI Juty Lin¢4stsf FIF copl INVESTMENT BOARD Lhair Rhdey Swire FrankBury Johnny Evans BUSINESS DEVELOPMENT. ENGAGEAENT&PART14ER$ps ieEP] Nl Th FTr4ANCE & INVESIMENTINI Char PLkn AW+T& FSK IARC) r PembeKEon GRAATS & IMPACTIGII Char S3nia RObts IA4RCOAIM5 Chair Rth Matbn VITAL %GNS iVSI Anna 8ol•r LU Burnau H•nry C•cll Emma Pknbury4ladtTh Cla6r• Thcfflp50 Jess HLvnFthnes- Bookk••w Gwen VavghaD-Grnnt5 Athln are W3te- Sal•sforc• Charn Q4RANTS PAPIEL5 Appomledsepwatelyfor eachwanl d. Pollcles adoptèd for the induction and tralnlng of Trustees On appoinlmenl, a newly elected Iruslee musl read the Governing Document for Shropshire Community Foundation and ad, understand and a¢¢epl the duli6s and responsibilities of a trustee as outlined in the Charity Commission booklets CC3-The Essential Trustee.. what you need lo know, and CC3 lal., Responsibilities of Charity Trustees. e. Financial risk management The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the operations and finances of the Charity. and are satisfied that syslerns and procodurgs are in place lo miligale exposure to the major risks. Page 5
SHROPSHIRE COMMUNITY FOUNDATION TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods Further lo this yearfs expansion of the Board of Trustees, additional Trustee recruilmenl is envisaged during the next year. Endowment generation and income building is a key objective and will facilitate an increased number of grants awarded across Shropshire, Telford and Wrekin. Compliance and govemance oversight will continue to be central to all of the Foundation's aclivilies. Grant making programmes on behalf of third-party organisations such as local authorities are planned and will increase during the course of the year. To facililale the afore mentioned increased aclivily, the Trustees have agreed lo employ a CEO and a Grants Adminislralor in the next financial year. A more robLJsI structure will facililale delivery of these plans for future periods. statement of Trusteg$' rg$ponsibilities The Trustees are responsible for preparing the Trustees, R&port and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees to prepare financial slalemenls for each financial which give a true and fair view of the slate of affairs of the Charily and of ils incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial stalemenls. the Trustees are required lo.. select sultable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting eslimales that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material departures disclosed and explained in the financial slalements., prepare the financial statements on th& going concern basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate aceounlin9 records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial slalemenls comply with the Charities Ad 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the Trust deed. They are also responsible lor safeguarding the assets of the Charity and hence for taking reasonable steps for the preventitsn and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. qoiuo S Graham (Chair of Trustees) Dale.. i9 11 1014- Page 6
SHROPSHIRE COMMUNITY FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examinerfs Report to the Trustees of Shropshire Community Foundation I'the Charity'l I report lo the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'lhe 2011 Act'l. I report in respfjct of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in Carrying out my 8xamination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Pa9e 7
SHROPSHIRE COMMUNITY FOUNDATION INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlner's Statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in ac¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations but has been withdrawn. l understand Ihat this has been done in order for the accounis to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effectivè for reporting periods beginning on or after 1 January 2015. I havè complolgd my examination. I confirm that no mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do nol accord with those records,. or the accounts do not comply with the applicable requirements conceming the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any reqU1ment that the accounts give a 'true and lair, view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report is made solely lo the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slal6 lo the Charity's Trustees those matters l am required lo stslo to them in an Independent Exaffliner's Report and for no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility to anyone other Ihan the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. S J Tweedle Dated.. 29 November 2024 Bsc FCA DChA WR Partners Chartered Accounlanls Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 8
SHROPSHIRE COMMUNITY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Endowment funds Restricted Unrostricted funds funds Total funds Total funds P8riod ended 31 March 2023 31 March 2024 31 March 2024 31 March 2024 31 March 2024 Note Income and endowments from.. Donations and legacies Investments 25,910 11.$46 19,250 60,487 300 105,647 11,846 619,362 Total In¢ome and endowments 37,456 19,250 60.787 117.493 619,362 Expenditure on.. Raising funds Charitable activities 3.000 3,309 4,517 27,017 7,517 45,326 15,000 T,522 Total expenditure 15,000 6,309 31,534 52,843 7,522 Net income before nat gains on Investments Nel gains on investments 22,456 12,941 29.253 64.650 611,840 40,811 40.811 N¢t movement In fund5 63,267 12.941 29,253 105.461 611,840 Reconclllation of funds: Total funds brought fonNard 601,676 63,267 1,417 12,941 8,747 29.253 611,840 105,461 Nel movement in funds 611,840 Total funds carriad forward 664,943 14,358 38.000 717,301 617,840 The Slalemenl of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 10 23 form part of these financial slalemenls. Page 9
SHROPSHIRE COMMUNITY FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed ass&ts Inveslfflenls 553,454 516,Q97 553,454 516,097 Current assets Debtors Cash al bank and in hand 13 11.497 153,676 87,975 9,028 165.173 97,003 Creditors: amounts falling due within one year 14 11,3261 (1,260) Net current assets 163.847 95,743 Total assets less current Ilablllties 717.301 611,840 Total ngt assets 717.301 617,840 Charlty funds Endowment funds Reslricled funds Unreslricled funds 15 664,943 14.358 38,000 601,676 1,417 8,747 15 15 Total funds 717,301 611,840 The financial slalements were approved and authorised for issue by the Trustees and signed on their behalf by.. S Graham Ichair of Trusteesl Dale.. The notès on pages 1110 23 form part of these financial slalements. Page 10
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ggn&ral information Shropshire Community Foundation is a Charitable Incorporated Organisalion registered with the Charity Commission in England and Wales, No 1200018. The registered office is al B&lmonl House. Silka Drive. Shrewsbury BLJsiness Park, Shrewsbijry SY2 6LD. Accounting policies 2.1 Basls of prgparallon of flnancial $tat&ments The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelancl IFRS 1021 leffeclive 1 January 20191, Ihe Financial Reporting Standard applicablfj in the UK and Republic of Ireland IFRS 1021 and thè Charities Act 2011. Shropshire Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has enlillemenl lo the income, il Is probable that the income will be received and the amoLJnt of income receivable can be measured reliably. Grants are included in the Slalemenl of Financial Activities on a receivable basis. The balance of in¢omo reiVed for specific purposes bul not @xpended during the period is shown in the relevant funds c>n the Balance Sh&&l. Where income is received in advance of entillemenl of receipt, ils rocognilion is deferred and included in creditors as deferred income. Where enlillemenl occurs before income is received, the income is accrued. 2.3 Expendlture Expenditure is recogniseé once there is a legal or constructive obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation ¢8n be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the lolal of direct costs and shared Sts, including support costs involved in undertaking each aclivily. Direct Costs allributsble to 8 single aclivily are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not atlribulable lo a single activity are apportioned be@&n those activities on a basis consislenl with thg use of resources. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for ils charitsble purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activllies is incurred on dire¢lly undertaking the activities whi¢h further the Charity's objeclives, as well as any associated support costs. Page 11
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policie$ Icontinuedl 2.3 Expendlture lcontlnuedl Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, SLJch grants being recognised as expenditure when the conditions attaching are fulfilled. Grants off&red subject lo conditions which have not been mel at the year end are noted as a comfflilment. bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Intgrest rg¢0ivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by th institution with whom the funds are deposited. 2.5 Investments Fixed asset investments are a form of financial instrument and are initially r8¢ognised at their transaction cost and subsequently meaSUd al fair value al the Balance Sheet date, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'GainsllLosses1 on inveslments, in the Statement of Financial Activikn'es. 2.6 Debtors Trade and other debtors arg rocognised at thg settlem8nl amount after any tradè discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.7 Cash at bank and In hand Cash al bank and in hand includes cash and short-lemi highly liquid investments with a short malurily of Ihreo months or less from the dale of acquisition or opening of the depos11 or similar account. 2.8 Llabilltles and provisions Liabilities are recognised when there is an obli9alion al the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably. Liabilities are recognised al the amount that the Charity anticipates il will pay lo settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. 2.9 Financial instrum•nt$ The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their seitlem8nt value. Page 12
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poli¢ig$ (continued 2.10 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds Comprise unrestricted funds that have been sel aside by the Trustees lor Particular purposes. The aitn and use of each designated fund is sel out in the notes lo the financial slalemenls. Restricted funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of sach restricted fund is sel out in th& notes to the financial slatemenls. Investment income, gains and losses are allocated lo the appropriate fund. Endowment fund5 are money or other assets given lo the Charity for investment. Al endowment funds held by the charity are expendable. Funds received as expendable endowment are initially invested bul can be drawn down when required. Page 13
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Total funds Period ended 31 March 2023 Endowment Restricted Unrestricted funds funds fund$ Total fund$ 31 March 2024 31 March 2024 31 March 2024 31 March 2024 Donations Donations 12.487 5,000 12,487 24,250 11,136 3, [50 Sponsorship 19,250 Subtotal Iletailed di5c105ure 19,250 17,487 36.737 14,886 Grants Membership income 25,910 10,500 32,500 36,410 32,500 604,416 Subtotal 25,910 43,000 68.910 604,476 25,910 19,250 60,487 105,647 619.362 Total 2023 601,676 3,750 13,936 619,362 Invastment incom Total funds Period end&d 31 March 2023 Endowmont Unrestrlcted funds funds Total funds 31 Mar¢h 2024 31 March 2024 31 Mah 2024 Income from local listed investments Investment income - local cash 11,546 11,546 300 300 11,546 300 11,846 Page 14
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Costs of raislng voluntary incomg Total funds Period ended 31 rtlarch 2023 Restrl¢ted Unrestricted funds funds Total funds 31 March 2024 31 March 2024 31 March 2024 Fundraising event expenses IIC - Investors in Community expenditure 3,000 3,001 1,516 6,001 1,516 3,000 4,517 7,517 Analysis of grants Total funds Period ended 31 March 2023 Grant$ to Grants to Instltutions Individuals Total funds 31 March 2024 31 March 2024 31 March 2024 Grants. Charitable Activities 24,000 6,000 30,000 Page15
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Grant$ lo Institutions 2024 The Joshua Tree Tom Bowdidge Youth Cancer Foundation Teenage Cancer Trust The Cavalier Cenlre Shropshire Youth Foundation 8th Bridgnorth Scouts HMM Arts Crowsmill Craft Centre Hope Through Music Grants of £1,000 or below 3.000 3,000 3,000 1.250 1,250 1,250 1,250 1,250 1,250 7,500 24,000 Analysis of expenditure on charitable activities Summary by fund typ• Endowm&nt Restricted Unrestricted funds funds funds Total Period ended 31 March 2023 Total 31 March 2024 31 March 2024 31 March 2024 31 March 2024 Charitable Activities 15,000 3,309 27.017 45,326 T,522 Total 2023 2,333 5, 189 7,522 Page 16
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analys1$ of expgnditure by activitie$ Grant fundlng of activities To181 funds Period ended 31 March 2023 Support costs Total funds 31 March 2024 31 Mar¢h 2024 31 March 2024 Charitable Activities 30,000 15,326 45,326 T,522 Total 2023 7,522 7,522 Analysis of support costs Tolal funds Period ended 31 March 2023 Charitablo Activlties Total funds 31 March 2024 31 March 2024 Advertising & Marketing Bank Fees 6,757 60 6,757 60 3,634 25 220 50 Insurance Regulatory Professional Support Costs Subscriptions Other Miscellaneous Exp&ndilure IT Software and Consumables Govemance costs 467 467 50 4,438 228 200 1,800 1.326 50 4,438 228 200 1.800 1,326 2,333 1,260 15,326 15.326 7,522 Total 2023 T,522 7,522 Page 17
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Independent examiner's remuneration Period ended 31 March 2023 31 March 2024 Fees payable lo the Charity's independent examiner for the independent examination of the Charity's annual accounts 1,326 1,260 11. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred f2023 - £NIL). 12. Flxed asset Investm•nts Othar flxed asset Investment5 Cost or valuation At 1 April 2023 Disposals Revaluations 527,643 115,000} 40,811 Al 31 March 2024 553,454 Net book value At 31 March 2024 553,454 Al 31 March 2023 527,643 Page 18
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Debtors 2024 2023 Due within on8 yèar Trade debtors Prepayments and accrued income Grants receivable 8,750 2,747 2,396 85,579 11,497 87,975 14. Credltors: Amounts falling duo within ona ygar 2024 2023 Accruals and deferred income 1,326 1,260 Page 19
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Statement of funds statemgnt of fund$ - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Gainsl (Lossesl Income Expenditure Unrestricted funds Deslgnated funds Flowthrough 15,500 {15,0001 500 General funds General Funds- all funds ,747 45,287 116,5341 37,500 Total Unrastriclgd funds ,747 60,787 131,5341 38,000 Expendable endowment funds Zac's Trust Fund 516,097 85,579 11,546 15,910 10,000 11 S,0001 40,811 553,454 101.489 10.000 High Sheriffs Fund Dalian Atkinson Legacy Fund 601,676 37,456 115,0001 40.811 664,943 Restricted fund$ Employment costs IIC Dinner 1,417 16,250 3,000 13,309} 13.0001 14,358 1.417 19,250 16,3091 14,358 Total of fund$ 611,840 117,493 152,8431 40,811 717,301 Page 20
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Staternent of funds Iconllnuedl Endowed funds consist of three separate funds. Monies held in Zac's Trust lo provide financi81 support to children and young people who have a diagnosis ol cancer and are in need The High Sheriffs, Fund is lo provide financial support lo any person, or group ol people in need, Dr organisalion that works lo relieve the needs in the ceremonial county of Shropshire, or any area outside of the ceremonial county of Shropshire al the advisers, discretion. The Dalian Atkinson Legacy Fund aims to provide equal opportunities lor young people aged five lo 25, across Telford and Wrekin and surrounding argas, lo participate in a rang8 of sports - including football. All endowment funds held by the Charity are expendable. The funds held wlthin the reslTiCted Employment cos15 fund relates lo monies received through Airt)and sponsorship towards the employment costs of the charity. Page 21
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Statemgnt of funds l¢ontinu9dl Statement of funds - prior year Balance al 31 March 2023 Income Expenditure Unrestrlcted funds General Funds 13,936 (5, 189) 8,741 Expendable endowment funds Za¢'s Trust Fund High Sheriffs Fund 516,097 85,579 516,097 85,579 601,676 601,676 Restrlcted funds Employrnent costs 3, 750 (2,333) 1,417 Total of funds 619,362 (7,522) 611,840 16. Anatysis of net assets between funds Analysi5 of net assets between funds - current period Endowment Restricted Unrestricted funds funds funds 2024 2024 2024 Total funds 2024 Fixed asset investments Current assets Creditors due within one year 553,454 111,489 553.454 165,173 11,3261 14,358 39,326 11,326} Total 664,943 14,358 38,000 717,301 Page 22
SHROPSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Analysis of net assets between funds Icontinuedl Analysis of net assets bgtwegn funds - prior period Endowment funds 2023 Reslricled Unreslricled funds funds 2023 2023 Total funds 2023 Fixed asset investments Currenl assets Creditors due wilhin one year 516,097 (506,090) (1,260) 516,097 97,003 (1,260) 601,616 1.41 T Totsl 601,6T6 1,41T 8,747 611,840 17. Related party transa¢tlons There were related party transactions during the year. A Harris, Trustee, is the Chair of Trustees for 4 All Foundation, which recieved a grant of £1,00012023.. £nill. There was no oulslanding balance al the year end. S Graham, Trustee, is a Trustee for The Cavalier Cenlre, which recieved a grant of £1.25012023.' £nill. There was no outstanding balance al the year end. Page 23