SHADOW TO SHINE CIO (Reglslered charlty no. 1200087) TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
SHADOW TO SHINE CIO REPORT AND FINANCIAL STATEME*s For the year ended 31 August 2025 CONTENTS Page Legal and administratlve InfOrntiOn Trustee$. Annual R8port Independent examinerfs report StatemèTrt of financial act1$ 10 Balan¢9 sheet Notes to thg financial statements 12
SHADOW TO SHINE CIO REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS For the yaar ended 31 August 202S Chadty reg. no. (England) 1200087 Registered office 5 Dorset Slreel London W1U6QJ Trustees The trustees who seryed during the year arKI up lo thè date of. this feport were as lollows.. Manoj Varsani {chrI Simon Cooper (treasurer) Korinna Williams la44x)inted 21 January 20251 Andrea Dawuah Archer Sabrina Stewart Fatemeh Baharak Fatemi Key managgmgnt personnel Jennifer ikhe (CEO from 02 December 2024) Bonkers CAF Bank Ltd 25 Kings Hill Avenue Kerrt. ME19 4JQ RedwocKI Bank The Nexus Buikling BroaaY Letchworth Garden Cty SG6 3TA Independent Examiner Raymond DavKJ Chaplin FCCA Caton Fry & Co Ltd Essex House 7-8 The Shrubberries George Lane South Woodford London E18 1 BD Accountants NIP Aw)untants Ltd 3rd Floor. 86-90 Paul Slreet London, E2A 4NE
SHADOW TO SHINE CIO BOARD OF TRUSTEES. REPORT For the year ended 31 August 2025 The Trustaes present their r8w)rL together with the financial statements ol Shadow to Shine CIO, lor thè year ended 31 August 2025. Th8 Trustees confirm thai the annu reFK)rt arKI financia statements of the chartty cornply with current statutory r6quirernenis. the requirements ol the charAVs goveming document, and th8 provisions ol the Stalement ol Recomrnended Practice ISORPI. applicab lo charities preparing their accounts in accordanc& with the Financi Reporting Standard aable in the UK Republ oi Ireland IFRS1021 leftectNe 1 January 20191. Tha reference arKI admintstrab.ve inlormalion s81 oul on page 1 forms part ol this report. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemancg Shadow To Shine is a registered charity, numbèr 1200087. and is constituted und8r Constitulion ol a Charitable In¢orporated Organi8ation dated August 2022, last ameThJed on 1710812022. The governance of the Charity is resporllty of Ihe Trustees. Day to day rnanagement is by the CEO, who draws on the support and expertise of the hwJhly eXrIered Board ol Trustees as needed. Shadow To Shine transitKJn8d trom a CIC to a CIO on the 17 August 2022. Recruitment and Induction ol ttustees BuildiThJ a strong board of trustees was Crit lor establishing a strong foundation lor Shadow to Shine as a charity. Al Shadow lo Shine, we adopted a rigorous process. relthting our eommitrnent to securing robust leadership vilal lor the success and growth. We priorilise a meticulous selection Fxocess to ensure that we appoint trustees who can contrrbute signrficantly lo our mi£sKJn wthi saleguarding the yourg people we serve. Trustèès are elected and co-opted uThdèr the ierms ol the Constitutn. Trustèès are expected to complete a skills audit, to help identify the specific sknlls aThY expertise neede(I within thè charty. This skilts audit helps us assèss their proliei6n¢y in areas Cruci to our operatK>ns. such as ffinarKe. mad(eling, governare. HR, branding, programmes. and salèguwding. We invrta ptstenlial truslees to observe 2 board meetings to assess their commitment and compatibility further. Aftèr thè tx)ard observations are cornete, thè candidate's appointrnent is put to a vote in a board mèelirKJ. We want to ensure that the new truslees are Well-13ed Mth our values and go$, setting us up in good stead for future years. No othèr ptrrson or extemd boty is entNled to appornt any chaiity truslees. The Trustèès who served during and aftar Ihe year-end are shown on page 1. Upon appointment, new trustees at Shadow lo Shine urtdergo a comprehensive induction programme to equip them with ihe necessary knoedge and urKlerstanding of our charity. Re¢ognising the importanc& ol saleguarding. dl new trustees must completè the NSPCC'S safeguarding training specific to trustegs.
SHADOW TO SHINE CIO BOARD OF TRUSTEES, REPORT For the year ended 31 August 2025 R8latod partles The Charity has considered the disclosure requ1ments of the SORP lor relatgd party relationships. The charity has no related party connÉcttons wth olher organisations. The truslees consider that the members ol the board and their ¢losè connections to be the onty relat parties ol the charity. Ml trustees give their time voluntarily and receive no benefits from the charity. Any eypenses reclaim from the charity are set oul in not8 7 to the accounts. Trustees are 14uired lo disdose al relevant intertssts register thern ai the quarterfy Ixjard meetings and to wrthdraw from de¢isK)ns where a conflict ol inlerest arisgs. Shadow To Shine maintains a Conflict of Interests registey. Remuner8tlon of key mana9gmgnt pernnel The pay ol the charity's CEO is reviewl annUty in accordwKe wilh changes in duties and London average eamings. depending on alfordabilily. The trusteès aLso draw on their knowledgè ol the sector arKJ common practice in other chariiies of similar size to ensurtr that thè remun9ration set is fwr and not out of line wth that generally paid for Milar roles. Risk managemont The Board ol Trustees lulty accepts its responsibilit for ensuring that the major risks to whh the Charity is exposed ara Kléntilied, and Ihat there are systems and procedures in place to mr(yate thosa risk5. The CEO is responsible for also sharing any risks with the Board of Trustees. Volunteers Our voltrnteer mentors play a crucial role in Shadow to Shine's success. I)prOxImatelY 97 volunteers are registered in our database. serviThJ as mentors and ofteriThJ their timè without reimbursement. Each active mentor is matched wth young people based on common careèr interests, and provides 5-10 sessions per year to one young person, Iwused on professional méntoring and career gu1Jare. OBJECTIVES AND ACTlVtriES Our charilable actNlties this period focused on supportiThJ uThJerreps0nled young peoplè into employment, wsthin London aged 16-24 years okj. Our intemal objectives are tt): Provide Great SeN¢ces To YourKJ People" Grow (reach mor8 young people)" Create and maintain financially stable and ethical OTganisalion'. Support young people itho empkjyment or other opportunib"es.
SHADOW TO SHINE CIO BOARD OF TRUSTEES. REPORT For the year ended 31 August 2025 In this period Shadow To Shine CIO. werg proud io delwer s8v8rd core acIMt to support young peopl8 from London into career5. We offered 9 empkTryability programmes and 6 standalone additional actwities and experiencès. Our work ensured thai 137 young people in London from disa(fvaritaged backgrounds could move closer lo work and gwn the required to begin wortting. Without our wogrammes, the young péople we serve would not usually havg access to the Co)raI8 environments Ihat we are ab to bring thèm into. Our wotk halps onnecl employars directly young and diverse taknt. lower unernployment rates. generate more inclusivty with tha workplace, reduce youth social isolation and Flps create more communty smart partnering and collaborats'on. Public bonafft Thè Iruslees review the wrns. objectNes and acttwties of the charity each year. The bijstees reptsrt the success ol èach key aclivity and the benefits the charity has brought to those groups of peOe that it is set up to help. Thé review also halps Ihe trustees ensurè th8 chartty's aims, obJectNes and activities are referred lo the guidance containèd in the Charily Commission's gerteral guMlan¢& on public benefi(. The review helps ensure we are reviawng the work, Ihe wrpose arKI the irnpact. The Board ol Trustees Conlimi Ihal Ihgy have corn with their duty to have due regard to the guidance on public benalit publi%hed by the Charity Commission in exer¢isirKJ their powers or duties. ACHIEVEMENTS AND PERFORMANCE The development of the charity follows the strategic business plan agreed with the Tnjstees. In the reportiTrJ perh)d. thè following projects. &l1vit$ and events have taken place:. Employabilrty programrnes Iwhich teach skills lo make peo9 WO ready. grow their confJenc8 realise their aspirations).. Entrepreneur prografflmes Ivthich fru$ on earty-stage youry entrepreneurs {or aspiring entrepreneursl and teach basic business lUndament$),- Shadow to Shine cglebr*ion events IchampionirrfJ the SSseS of our young people in the last yearl., UpskillirvJ OPFM)rtunthes {such as a taster day at an organisation or a one-off workshopl: Profession trvent access {such as our events and invites to nett¥othng gPPOrtunitiesl. Provlde Great Servlces to Young Peop EnsLtre la¢e-to-face activrbes arè of high calibre. wilh an average leedbad( score ol'satislied, and 'very satisligd, al 9/.. Incrèase the number and quty of serwces by impt8mentirvJ Iwo cuni¢ulum reviews each year. Basis.. These objectives wgre derived from our commrfment to maintanirvJ high standards in our services and conb'nuously improving based on feedback and evatnS.
SHADOW TO SHINE CIO BOARD OF TRUSTEES, REPORT For the year gnded 31 guSt %125 We assessed the impact ol our Serye$ on the beneficiaries by looking lor outcomas in the lollowng areas." Basic Wofk skills and knovAeckJe Increased Understand1r ol drffeiènl industries, rol85 aThJ slIS rUIred Increased neiwork Engagemenl Ipre. during and Frf)sl wc¥Jrammesl Improv8d conlidence Basic employabilitylprolessiond skills Career plan Hands on experience in the worf(irKJ workl 1inlemshiernp) Insight into the job marl(et Paid work A Ward1r@ job Role progression We measured the following areas of impact: Progiamme satisfaction rate.. 98% 'Would recommeThJ to a friend,: 100% Reported irnprovemènl in conte.. 94% Grow (Reach More Young Pgoplg) Support those most in need by ensurtThJ at least 75% of Ihe young peoplg we engage with S$-deClare three barriers or rnore. Smart partnering wth other ernployabilty platrorms Increase the number of youth organlsation partners by 10% each year Basis.. These go$ were set to expand our reach and ensure we are addressing the needs ol thé most vulnerabl young people. LeveragiThJ dKJital plalfoms and strategic partrshIpS weie idenbli8d as key growth drivèrs. In the repoiting period we succ8ssfully supportwj those most in need, vrith 85% of our eryaged young people sell-de¢laring ihree barriets or more. W8 successfully partnared 8 new organisations lo create two-way relerTal pathways lor our progr8mmes. We conbnugd to delNeT initialives 1h 7 other youth organisations in the rerx)rting period which continue to support our reach targets lor fulure years.
SHADOW TO SHINE CIO BOARD OF TRUSTEES. REPORT For the year ended 31 August 2025 Crgale and Malntain a Financialty Stable and Ethical Organisation Secure a minimum value of £60.000 in corporale partnership deds. Generate £100,CMJO through charitable gtwng (grants and donotsl. Stay within 5WD ol lundraisirvj targets as outlined by the fundraising strategy. Racruit four people to join a fundraisirKJ committee that meets once per quarter. Basis.. Financial siabilily is crital for our sustainability. TFse OblveS were interKled to ersurè wè have a robust fulIng base and ethic practeS in FAa¢e. During Ihé reporting perh)d we worked our existing corporate partnets, but were not able to meet the tsngoing target of £60,000, but we were able to cover some ol our core programme delivery costs. In response to this WÈ are startiryJ a Research and Development project that 11 refine our setvice offèring, and will be informed directly by employer needs arKI insights to support us in achieving our goal in the next linancid yèar. Our suixess rate on fuThJratsiw¥J appltr"Orts has lar kjwer this year due to thg increased competitlvg fundraising landscape, so we have adapted our strategy lo still continue our fundmsing efforts and locus more on buildÈng Tèvenue through corpcTrrate patherships. During the repxTrrtir@ period we generated £156,402 through grants and dOrrS. exe88ding our tgt lor ihis year. However the importance of securiTrJ multi year dtverstw income is still an important locus so that Wg can reach a steady state over the coming fIna[l years. We siartèd recruitment loi a fUndrsIng commiitee chairman who 11 support the re¢ruttment ol our lundrasing committee. Support Young People into Eryloymgnt or Other Opportunitle$ Achieve 50¢/0 of young people in employment or lurther educalB)ll within 12 months. Ensure 90% 01 young people are gNen new sknlls ready for ernOYMent. Ensure See$ produce great outcomes where al ast 5Wo ol people gwn a further opportunity diTectJy through Shadow to Shine. Basis.. Our rv3earch irKli¢ale(I that employment arKI educabon are pNOt for young pecO6's su(Less. These objectives were ame(l at eqUipn9 them with Ihe resSary skills and oHy)rtunilies. We rneasured the lollowThJ arèas of impxt: Young Peop repothrKJ fèeling 'equipped to enter irKIustry of chou.: 95° Progression to further opportunty Iwork experience, mentorirbg, additional programmenwnirvJl'. 5/. Prograssion to employment or self-empk•yinenl within 12 months.. 60%10145% who completed follow up forml We gather this d*a trom feedback loms your¥J people COmFete mKI-way, and from in-session obse¢vations.
SHADOW TO SHINE CIO BOARD OF TRUSTEES, REPORT For Ihe year gnd8d 31 August 2tr25 FINANCIAL REVIEW Summary The chartty irurred net eXndItUre lor Ihe year of £17.75912024 - net income of £3.5301, detlS ol which are shown in the Ststement of Financi AuNities on page 10. This brings the charlS tot furKls to £21,65512024- £39.4141. £17,346 01 vthth were unrestricted funds12024- £36.0961, and £4.309 were resln.clgd funds12024 - £3.3181. Total income for the year decreased from £162.387 to £159.703. Tot eXndItUre amounted to £177.46212024- £158,8571. Reserves pollcy Shadow To Shine's polKy 6 to ensure thal Iher8 are reserve furKts aVlable to run the basic operatiorn£ ol the charity lor a minimum of three months. Our long-lerm goal is to have six months. The Trustees estimate this would require reseNes of £33.¢X)0-£66.IKK). The Chan"ty's reserves at the end of the re)ng period wertr within this policy. Golng con¢em After making appropriate enquiries. the trustees havè a reasorhable expectation that the charitable ¢ompany has adequate rèsources to continue in operational exi%tenc8 lor the foreséeable fulure. Ftsr this reason. they continue to adopt the going concern basi4 in prèparing the financi statements. Key fundlng sources The Trustees are gratalul ol the continued linarKial support from the Uoyds Bank Foundation, Westminstèr Council, Action Funder, London Masons. Quaker sock (Piffllico Grant), Clothworf¢e¥s Foundation and City Bridge Trust. The Chanty continues to worf( s{rategaIfy with key partners and supFx)rters. This finarKial aThJ moral support provides a limi fouThJation lor the charity's activiiies which arè set to increase even further in the next financial year. We are also in aw& ol a]1 the staff and volunteers who helpèd achieve such great heights in helping young people. We believe we lead by example when makiThJ a d¢fference lo the youro people, the society. None of this would be achievab without the supw)rt ol our fundgrs, volLtnleers and corp)iate partn8rs. Plans for fulure perlod$ Shadow To Shine wll continue to supwrt more young pPIe into employment by delivering more ernployability programmes to reach more undefrepre58nled yourrfJ people in London. We will also look to develop strategi¢ corporatè partners, working them lo creale actsssible and direct pipelines Into employrnent and developrnent opportunities lor our young people. We will $0 run mre rnentoring prograrnmes tr) match young pèople with mentors who Can help theffl prolessionally as they progi8ss lo looking lor and nIng a¢¢ess to ernployment.
SHADOW TO SHINE CIO BOARD OF TRUSTEES. REPORT For tha year ended 31 August 2025 Trustses. Respon$lbllhles In Relation to the Flnan¢lal Statemants The charily Trustees are responsible lor preparing a Tnjstees, annual report and financial statements in accordance with appIable law United Kingdom Accounttng Standards Iunited Kinglorr Generdly Acceptod Accounting Practice). The law applicable to chaxitiÈ5 in ErolaThd and r8quire5 Ihe charity Trustees to prepare financial siements lor each year which give a true and fair view ol the stale of affairs ol thè charity and of the in¢omirKJ resources and application ol resources. ol the charty lor thal period. In preparing the linanciJ slalements. the Twstees are required to.. Select suitable accounting poIleS and then apFAy consistentty" Observe the meth(Kts and princples in thè ap[je Chariliès SORP; Make judgments arKI estimates that are reasonable arKI prudent" Srate whether applicable lunting standards have iwn followed. subpct to any material departur85 disclosed and axplained in the finan staiements., and Prepare the linancid stataments on the going concern basis unless it is inappropriate to assume that the group will continue in business. The Trustees are rgskKinsiblg for keepr¥J proper ac¢ounltng records that diselose with reasonable awuracy at any time the financial position of the charity to Ènable them to ensure that the financial statements comply with lh6 Charities Act 2011. the apPIable Charshes IAccounts and Reports) Regulations, and the provisions of the Charittys goveming dLKumenl. They arè s0 responsible for saleguarding the assets of the charity and taking reasonable sleps for the prevention and ¢Jetection of fraud arhy other iryularthes. The Trustggs are r8swTrnsible lor thg MnEenae and integrity of the corporate arml financi information included on Charity's website. Legislation in Ihe United KirrfJ¢Jom goveming th8 preparalion and dissemination ol linan¢ial statements may differ from legtslation in otherjurisdiclions. Members of the charity guararltee to conlrtsute an amount not exceediro £1 to the assets of the charity in the event of vrfinding up. The total number ol such guarantees at 31 August 2025 was 812024 - 111. The Trustees are members ol th6 charity but this entitles them onty to voting rights_ The Trustees have no ne1la1 interest in the charity. Indgpgndent Examiner Caton Fry was reappointed as ¢haritys IndeperKlent Examiner. Approval of the report This raport was aFproved by the Board of Trustees onvj thy.&.¥... and SIgr on their beht by. SIMON COOPER. Treasurer
SHADOWTO SHINE INDEPENDENT EXAUINER'S REPORTTO THE BOARD OF TRUSTEES Fov th8yw ended 31 AugUSI 2Q25 I rwKMI on the acwjrrts ol thethty f(rf fv)ar ended 31 AwlXQ& 8el(xrton p¥5 10 to 21. The chl5 ITUSt8es are reS)lIe foi Ihe ol Ihe financi 51atwnwts. Thtr thwiiys truslees ider that an au(S1 is Th)1 requir lor this >tar 144121 ot the Charthes Ad 3)11 ltrt 2011 Acti M is my re¥k4tytrJ." lil ex4mine siatemerts Lvvjw K)n 145 Ot 2011 AL: fjll Idk)wlhepTo¢e(btses larttd in th8 thrKaKll% byth&CharityCunmtssion un¢kr section 145151(bl ol 2011 P£i". and My examnation Vds wt ill wih IFt gwzj DirtttK)ns gwI ty the Charity CommBsi)n. 8win•ion incIL a rÈviw of the MIn1vY kept ty the chafily and a rJJmpari50n of the a(LnIS preserted Valh tse recd% 11 $0 IrLleS c<va0n ol any iiems or dscknsures ID the gLts)unts. and sethng ewanalnS frotn trusteEs any matters. Tr pl¢ureS undèrtaktn (b not pwdt ¥1 the evhkn that ¥wukl t rUlTed in an aLwJrt and no cpinon 1$ gNen as ID ether tr a(L¢L4)ts a'tsLE ar¥J VI arxl the rewt is to Ihose matter5 Setoul in the nextstatÈmoM. YOUT attention is dravffl to IhE fxi the chty has finarKid Stalemts In a(xxxdart& A¢ctyJniiftg and rewrtwvj ty tharthes tKwryJ Ihwr a¢coLmts in accord I1h ts Financial Rep1 Standard ap4e In the UK arwj Repu12 ol Irdavj {FRS1) In ye[e[ere 10 itr A(twitirG arKJ RepDrt by ChaFthes. SiateThent ol Practice 01 Wil 2WS ¥thith i8 ielwed lo in Ihe extant regJlatiLn% tKrf has illvJraMn. l utKlerstd ihai has been thy In order for the finKi¥ to WDvvJp a Irue lar wew in aCrda[ iih G¥¥1Y A¢cwiorq Practse effthe rwts.ry W"nning on or after 01 January 2015. In Gonn( 14th my exarninaticn, Th) (thr ffowexc4rt to in thp wevious paragrarkn IH5 LX)me 10 al thich wes me rea50rth ¢ause to thal in anyftweria resP&tthtr wiramefits.. lil to keep a¢¢¢uniir4J reccrf(J5 in wxyJr(larte sectim 19001 the3)11 Act.. and to prepar8 Iinw# stalemertswthth rerAx& IhB (x)unbryJ of 2011 Aci.. havtr Mi rne( or bl 10 Ythh. in My oprucrfi, attart sd{av in LKd8r apYLw UrKJwSia of lh8 ffin staiemwis io be rexw. Rayrr Oa¥ld ¢Win FCCA Caton Fry & Co Lld Essex H$& 7.8 The Shr&te Gmtr Lar S)ulh Woodford (bnE181BD
SHADOW TO SHINE CIO STATEMENT OF FINANCIAL ACTivmes lincorporating Income and Expendlture •rtcouni & stat*Mrt ot Tolal RealL88d Galn$ and Losses) Forth8 ar ended 31 kngusr 2025 Toial Unrestrrled RestrKted Funds FurKIs Funds 2024 gog4 Tot81 Furjds 2024 Funds Funds No INCOME FRO Donations arK1 gatte$ chaTr18b actiwiies Inve51menis." barlt inieresl Olhgr Irtsjme 88.185 69W7 157.402 78.937 17.027 2.013 54.410 143,347 17,027 2,013 2201 TOTAL INCOklE 217 97.977 64,410 762.387 EXPENtITURE ON= Raising lunds ¢harilabl& ath¥88 employaknfily M8ntorng 16m7 1.1112 17.089 14.601 f4,601 59.942 10.rn 65.820 1&312 24.160 11.959 53,5¥2 7,541 19.459 30.5&9 t6.512 Corrate eryagernent EvÈn15 actiwtss 16.512 53,795 93.159 67214 160An 83.164 61.092 144,256 TOTAL EXPENDITURE 109.236 17T.462 97.765 61,092 158.857 NET INCOklEIIEXPENDITUREI FOR THE YEAA 11&79)) 117.7591 212 3.318 RECONciuAnoN OF FUNDS TOTAL FUNDS AT I SEPTEMBER 2Wd4 3.318 39,414 35.884 TOTAL FUNDS AT 31 ALIGUST 2025 10
SHADOW TO SHINE CIO compan limitèd b uarantee number BALANCE SHEET Ag 8t 31 August 2025 Notes 2024 FIXED ASSErs TaThJible assets 158 916 CURRENT ASSETS Cash at bank and in ha1 56.422 75,026 CREDITORS: amount$ falling due within t)ne year 12 {20.8901 (11.966) NET CVRAENT ASss 35.532 63,060 TOTAL ASSEfs LESS CURR LIABILMES 63,976 CREDITORS". aMntS falling due after one year 13 114.0351 (24,562J NET ASSErs E 21.655 £ 39,414 FUNDS Restricted funds Unrestricted furKJs". General fund 14 3,318 14 17.346 36,096 E 21.655 £ 39,414 The financial statements were approved. aThJ authorised lor e, by Ihe Board of Trustees tsn Zo14 and sv3ned on their behalf by:_ &mon Cooper. Treasurer The annexed noies lomi part of these finan staternents
SHADOW TO SHINE CIO NOTES TO THE FINANCIAL STATEMENTS For the year enthd 31 AjuSt 2025 1. ACCOUNTING POLICIES 88sis olprywrniion olfinanci81 stal8mBnts Th8 accounts have Wn ppar&I urKl8r the hi8tow] wst acctyJntiry wles. in actvdance with Accounting and Reporting by Charits"es.' Statement of RecornmeThJ&l Pr&tre aFwfi¢abJe to charit18s preparing their acwunts in a¢¢ordan¢e %ith the FirHn(> sta in the UK a1 of Ireland IFRS 1021 leffecbve 1 JaNary 20191- ICharib"e5 SORP FRS 1021, thÈ Finwd RewtirYJ S13ThYard applicth in Ihe UK ar Repu1¢ of Ireland IFRS 1021. arxy ChaiybÈS kt 2011. The Chanty h3S taken advantaJe of prov in Ihe SORP for aWwrvJ FRS102 (Section 1A) rK)i to prepar& a ststernent of cash fvyw5. The financi statefflerts are prepared in sterting. i¥ fuon ojrrerry of Ihe chaty. )etary amounts in th8se linarKial ststements a rcurKJed to the rarest £. Assets and are Irty (ar#Sl at 11sto cost or Iransa¢btsn value olhemse stat&1 in tr ret8vant accountiNJ p)bcy or rvA8. Ju(ment5 aThl key swrces of esb"mabon urKErtanty are in Ihe accouniir¥J Folicies whgre awJlic4e. Publlebonefil entity The Charitab corryny rneets Ihe fitr)n of a wblc tneffit entsty FRS 102. Golng conc8m TIE TFUStees conskyer that lhe are Th) materid atrxxrtthe charitab18 cowrrfs ability to QJntinu8 as a ing ¢on¢em. Key judgernents thai the ¢hatttabk company ha8 made wthh have a signrficant efft on the accounts irKlude estimab.ry iorr expeThth"ture for the next 12 rnonths. In¢ome In¢ome Is recognk5ed when the thrity has werrt to th? fvrbts.. this is then any p8rforM¥e corKI"0ns attached lo irr(yrn hav ten rneL it 15 prcknth Ihai irtorne will r8Y, arKI that the amount can be rneasured rel1y. Irrr from gDvemtnwrt aj olher grarts. ¢411. gRrts or I8Vere. grants. 15 r8c0w1I when the charity has entillemern to fts. any wl0rrn ttlrNJOns attach to the grants have been mei, it is probable that the irKorne Mll recaved aTh1 amunl can be measured reb.ably and not deferr&l. For legacies. entif[ent is taken as the earfier of Ihe (late whh ther.' charity is aware that probate has b88n granted. the estate has been finalEwJ aTrJ Th)tficthn has fflade by the exerxJtor(sl to Ihe charty that a distTrtyJbon 711 b8 rnade, or wfn a (fi$trTtAn i5 receNed trom the estate. Becwpt of a legacy, in whole or in part, is onty Con9re probab the armurn can be measurwj relkgbty the Charty has been notilied of the eXUt0$ intentson to make a 155tribJth?n. Where W"e5 have Lwn Th)tilied to the charity. or the charity is aware of the grantiTrJ ol probate, aj tf rrtleria tor INKX)rr recognrtK)n have mt been rnel then the legacy 15 treated as a conbngent asset aTrY ¢thschxed sf material. Incorr is only ¢ferd ¥thgn." speufies thai the (¥ ¢knation must onty be used in futu accounting iiods.. or for pertomwre lated gratts. vknere are in afva[e of the rf0[rnartes or 5P8cific ent to whKh relat8. 12
SHADOW TO SHINE CK> NOTES TO THE FINANCIAL STATEMEtr¥rs For the year eThled 31 Augusi 2tr25 Oon•iion$ of g1ft4 servlces8nd facilils Donated professional Ser¥eS donated fylties are recogni as irOrne when the charity has control overthe item or ceiVed the swvK8. any ¢orKYitions assooated ith the thnat)n fv7ve been met, tlE rewpt ot 8eornmic benefit Irorn the use by the Chanty ol the ttern ts [wobab arNJ that ben8fit can be measured reliably. In a¢cordanc8 With the charit.es SORP (FBS 1021, vdunteer bmE is mt rwised 50 reler to the trustees. annual reForl for rTN)re informab'on abouttheIr(anHjti0n. On receipt. d)nated grfts. profession servw aThJ (kxted fauleS are rgriSEd on the basis of the value of Ih grft to the charity whth is the arrKNJnt ¢haity have in wlliro to pay tD obt&n servKes or facilities of qjivalgnt e¢ortiric befrt on the open Maet.. a (y)rresKX)rKlirg arnnt is then rewised in e¥)endlty in the peri of re¢eipL Interest on funds on dep)5it is irthjded then arKI ts arTh)unl can mu1 reliaNy by the chanty", thi8 is rnrm&ty up)n rotifican of the inte1 paid or payat4e by the bank. Company status Shadow lo Shine CIO is a £y)mpany limrt8d by guarantee. In Ihe event of the Charity beirvJ Wou1 up, the liatrA'Ity in r9$pt ol the guarantee is lo £1 per trErtthr of the Charity. Fundou1lng Restrict1 furth are lo be uswl &8 LgKI the ¢knor. EyndIre %thich rneets Ihese ¢rileria is Cha to the hJThl. unre$1rtfj fun¢L% are thnatiorts aNJ other irKYJrning rerCeS e1¥j or erat forthe charitable purpose8. DesgnatEd futs are unfen¢t8d earMath by trustees for parbcular wrr¥)ses. Exp8ndilure andinwover8ble VA T ExndItUre is rniSert orte there ts a legal or CA)nStre (lgaDDn b rnake a pawment to a third party. 1t is probable that Settt ill be re(wirY aThJ Ihe amJTrt ol Ihe orAtiOn can be measured rdiabty. Expenditure 15 classrfied Ihe a¢tithty hea(thrwJ5". FUrSIngc0sts Gosts of raissro funds late to csts I[jrrj by ts charitaL48 wmpany in lThdlng third parbes to make voluntary contribJtior6 h) rt as 11 a5 ihe ¢osi of any acti8$ ith a fUrxJrTrj puwe. Charitable activitss ExterItLtre on Charitab ¥tiVeS IJg$ the costs of d8Iveriry 5ervw and &tivib"es und8rtak8n to further the PU)Se5 of the charity aryj ttwr &$9Yi8ted supwrt c(6ts. Allocatlon ofsupportcosts Resources 8XP8rvJ8d are to the p•CUlar xtvity wh8r8 ttE ciEt relat8s diTly to that activty. Staff )Sts are slated on Ihe tLS ol slalf ts'. SuprA)rt txsts tich canrKX be dir• alllted to activilies are 81thatl in [M)rtIOn to staff (x)gts. Where inforrnation ab)ut the obiths proi8cts of Ihe chwity is a&0 prOVKJ to tellti donor5, aGtiwty costs are aprx)rtk)ned belween lundrasiro and charit*)le athiies on basis of the area of lite0tu (tcupied by e¥h activity. Rental charges are chaipj on a sWht line bass ovw th8 t8rm of the lèase. 13
SHADOW TO SHINE CIO NOTES TO THE FINANCIAL STATÉMENTS Foi the year ended 31 August W25 Tangible Hx¢dassei$andd8pr8Ci8tion Tangle fixed assets (excl11rj inveslmenisl stated at u)st less depreoabon. Th8 Cost ol addib.ons or Ihose ¢ostirvJ S than £1Tr)O a rN)t ¢4Ntaised. Ottr ¢£1 &s5ets vrith an eXted life of tnore than one year are included at C05t aT¥J ¢'al8 w Ihreo yeaJ5. Trade and ottEr ¢kn are re¢WI at Ihe setdemerrt ann¢ thje after any trale thsoxjnr olfer8d. Prepayments are ¥ed ai thg arrwJJnl prep1 net of any trJe ¢J5LY)unts ikn. sh atbankand hand Cash at bank arKJ cash in hand cash aryj S)rt temi hty Iw4uid Tnvestm&nts with a short maturity of thre8 months or less from the date ol quisItiOn operwTrJ of the de[t or similar account. Cash balan¢es exclud8 any funds held on bthalf of service L15. Creditors and promsons are rwused cjwity has a daiion resuth.ro from a past event that wll probthy resutt in the transfer ol fvrth to a third paty and arUnt due to settle the obligation can be mea$Jd or 8sbrnata1 reliably. Gr&5tor5 aThl provisions are norrnalty rwi8ed at t1[ 5ettlernent amount after allowing for any trade discwnts charity only has firtraw assets &atXes of a kir¥J that quafify as basic final1 instruments. Basic financial instrurngnts are re¢ffjniwJ at Iransacknn value atvj sub5equentty rneared at Ih&ir setllement value wth Ihe exceptt)n of bank kTr8 knkn¢h ar8 suLEwTrty measurÈd at alrtis cost using the eftective inter8st methxl. Pensions All employees of the chartty have opted of fvrefore the charity ()es rM)t currenly run a wrBR)n $CMe for its ernploy8es. 14
SHAOOW TO SHINE CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 £ DONATIONS AND LEGACIES iknreslricled Reslricled Ful$ Funds 2025 Total Funds 2tr25 Total Funds g024 Trusts arKJ foun£lab( CoFporate (kjnaiions Ir¥JMdual (1)nati$ 69217 149,217 91,910 185 8.185 1,437 88,185 E 69217 £ 157,402 £ 143,347 Tot81 Funds Futs Furmts 2025 Trusls fourNJatK Coryy)rate (knnaiions IrKlIuJ thjnabons 27.? 64,410 gY,910 50.000 1,437 7,437 7&937 £ S4.410 £ S INCOME FFK)M CHAFIITABLE ACTIVMES Unrestslcted Restrkted Funds Funds 2025 Total Funds Totèl Funds 2024 17,027 Nil £ Nil t Nll £ 2(E4 Total Fur$ 2024 2024 r7,027 17.027 17.027 £ 17,027 1S
SHADOWTO SHINE CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 A$t 2025 4. ANALys OF EXPENDrruRE SupFXt & Total 2025 Totsl 2024 ¢ost5 ErnOYrIty Mentoring 41769 14,1 10 77.752 19,459 30.533 76,512 18?12 Corwrate engagement Events arThJ acti11$ 17246 41,141 5.179 12J54 53,795 115ZJ9 10.912 10912 10529 160.373 17,069 144.256 14.601 0)$ Surwrt & svvernar 3277 {37,8821 £ 137063 £ 4W.399 £ Nll £ 177.462 £ 158,857 2024 su1¥& 2025 Employability MÈnioriiTg Ins[ Gorporate er8nI 33.4$7 77,752 19,459 30.533 16.512 15,554 24.432 13.212 24 14 6,077 88,661 9.607 9.S32 .541 2,604 14.912 144,256 14,601 Fun(Iraisir*J costs Stwort& governart (24.444) £ lo7.8 £ 51.057 £ N £ 158.857 Of the tow expeThJiture, £109,23612Wd4. £97.7651 unresirthj aThJ £68,22612024. £61.0921 was r8Stricted. 16
SHADOW TO SHINE ¢ NOTES TO THE NNANCLAL STATEME1¥ For the year ended 31 August 2tr25 NET INCOME I EXPENDrruRE FOR THE YEAP This k% siat&J after charg.ry Icr8thb'r¥J". 2025 2024 Ind8pen(nt auditorfs l exarNnefs rerNneratN)n.' I[ependent examinerfs fees 1,476 1,440 6. STAFF COSTS AND NUMBERS Tolal Funds 2025 Total Fun(Is 2024 Funds Fun<J$ Salary costs Wa9 and salarfes Social s8Gurity costs PenOn (x)sL8 86,on 4¥5 129,594 6,809 660 105,635 2,165 The averag8 nutrthrof enwby88s lon a bag$1 durirvj tsE yearwas 3.812W24. 2.51. tot enwee nefItS of Ihe key mawment personnd were £57,580l224. 49,3581. One empbjyee eanW beh¥e8n £60.( to £70,[ ia124. 8rnployees earn mre thaTh £60.CKX]I. 7. TRUSTEES. PEMUNERATION AND EXPENSES The charity Iru5tees %re rL)t Pa aThJ dd rnt reCve arry other benelits from association hwth the chanty in the year. No chatTty buste8 r8cenf&J payTrnt for sxofessk?n or olher serv¢ce5 suKpAgJ to the chwity. The Trustees receivgj Th) payments in lm1rS8t of (rt-ol.PJLet (J)sls. 8. RELATÉD PAFrrY TRANSACTIONS Other than trustees. at8. there a m ¥eFrtth rElatal party trans¥kns to dis¢l)se for 202512024. sarrEI. g. TAXATION The Charitab (orr4Mny is exw¥rt froffl coTFK)ratiM tax as 1 it5 15 charitatAe is a4)pli8d fLY charitable purposes. 17
SHADOW TO SHINE CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2025 10. SUPPORT AND GOVERNANCE COSTS Tothi Funds 2025 rot81 Funds 2024 Programme fr8elance AC(Utar Independent eXaMinan Rectuitment Trainir 7,YJ6 1,476 10.0fj2 4.426 1.440 876 1.641 176 OBS Re1r&5hrts Staff travel and Substere Other programrne (xjsts IT and equipment Insurance Enlertaniry Dues and Subscriptions Bar Payp Fe85 Other office (xxts Deweciation Other proles&onal swvices Staff supportcosts 11 317 563 203 1347 1.950 69 270 758 450 758 10,912 37082 £ 24.444 11. TANGIBLE FIXED ASSETS Office •qLtlprnent Cost At 1 September 2ffd4 and 31 August 2025 Al 1 Septefter 2024 Charge lorthe year At 31 AUst 2025 1115 758 273 Net book value At 31 August 2024 At 31 Augu512025 916 158 12. cREDoRs.. AMOUFs FALLING DUE WITHIN ONE YEAR 2025 2Q24 SOCI secunty arky 0th8rtax&s Bank ban repayab in one year AccwJs 10,526 1,476 10,526 l 1,966 18
SHADOW TO SHINÉ Ch) NOTES TO THE FINANCIAL STATEI1EPs For the ye¥ ended 31 August 2025 13. cREDORS. AMOUNTS FALLING DUE AFTER ONE YEAA 2025 2024 Bar bans 14.1)35 24,56 In March 20T3, the charity yeed a £50,IXKI k)an from CAF bai 10 W vmth fh)w and operabons. This is repayable from April 2023 to Dber 2027. AxIn1 due in ce ar AffK)unt due in to fve years 10,526 14.035 10,526 24,562 24,561 É 35,088 14. STATEMEMf OF FUNDS Translws and 8rougM )rniThJ Resources investment Forward Resources Expended gaIn(lO$S88) CarFied Forward RÉSTRICTED FUNDS Acton Funder Ltd Cty 8rK*Je Tnjst (City of L(xth)I city ol WestryIter Ckjlh Wod($ Garfield Westcln FtyJTrja)n Quaker rdI Suppyjrt Ih"mlico grantl 27,n7 126.6801 115,0001 1461 (15,(K)01 1.037 1318 3,272 15,iXXI Nil £ 4.309 SUMMARY OF FUNDS General FU15 Restricted FurKIs 1109ZJ61 17,346 3?18 69217 £ 39 414 t 159,703 £ 177,4621 £ Nll £ 21,655 24 Trarjslers and Jht RegourLEs inveslm8nt R8sources Expwthy gainll055e$J Carr Fonvard RESTRICTED FUNDS Gity &idge Trust (GtyofLoTrknJ Ctyot Westininster Cloth Workers Foyle Foundation Fou1 YOU WestminsterFournfation .910 15.0 10.0 7.51 (26,910} (15.IXKIJ (6,682) (7,500) (5.&70J 3,318 61,092 Nil £ 3,318 SUMMAA YOFFUNDS Gener81FunLts R8Str¢tsdFtJTr 97,977 64,410 (9T.765J 61.0 3.318 39,414 Nt7 £ 19
SHADOW TO SHINE CIO NOTES TO THE FINANCIAL STATEMEp¥rs For the year ended 31 Aiigust 2025 Reslncted funds have been used e¥dusivety lor prrKJrnmme d8Ivery, progr8mme freelancer (t5, travel l$arleS for partKipants. wogramme rnateriaL8 8Th1 items. arKI other expertsÈs (firectty related to defivery. A prOTtiOn ol statt costs has wher8 t8am merrthts have contribthed to prograrnme delivery. These furvjs are used for swific FraMThe torwhK they pre awarded. 1& ANALYSIS OF NET ASSEfs BEfllEEN FU14DS Dtsignated Getwdl R•stricted Funds Fund$ Funds Total Fund5 Totol Funds 2024 916 63,060 f24.562J Taroible fixed assets Nel current assets Cr8oltors due in mre Ihan one year 158 35532 114,0351 31x3 114,035) Nll £ 17.346 E 39,414 2024 UnTrStr FuThYs Deswat&* General A8slri¢ted Ftst FUTr FuThYs Tangth fAxed ass8ts N8tcurrenÈ 8ssets Creditors due more Itwj on8ye8r 916 59,742 (24.562J 916 &3.060 (24.562) 3,318 £ 36,096 £ 3,318 £ 39.414 18. ANALY&S OF THE NET UOVEMEIU IN FUNDS Total Funds 2025 Total Funds FLmds Funds 2025 N•t rrwJv8rn8nt in furKts 118.79J) 991 117,759} 17,759 3.S30 2024 Furnts 2024 FuThts 2024 Fur 2024 Net rnovemert in 212 3.318 3.530 272 £ 3.318 £ 9,530
SHADOW TO SHINE CIO NOTES TO THE NNANCIAL STATEIIEp¥rs For the year ended 31 August 2025 17. OPERATING LEASE COMMThMENTS The charity had TN) operaDng knes in ts curwt year13J24. thp same). 18. OThÈR LEGAL INFORMATION Shadow to shi CIO LS a tharitaAe ir%))rrK)rated orgar4saion, registered in Ery1 and Wales, with wslration numb8r 12ry1087, and is conlrdW ty its C{slutI. Ils LSter&I ofh"¢e lress i8 5 D(Yser stell Lon()n W1 U 6QJ. The COUnts are presente# in GBP rOUrK to £1. Th8 CIO was wi8tered on 17 J$t Pmr to Ihi%. the &b¥ibes ol the chartty were undertaken through a Comrnunty Interest Company. Up on rewlration of ts ¢hanty. th8 01$ of GIC weTa ¢*Jnated to the 21
Shadow To Shine Financial Activities
1 September, 2024-31 August, 2025
| Total | |
|---|---|
| Income 4100 Donations income 4200 Grant Income 4800 Other Income 4850 Bank interest received Total for Income |
58,185.06 99,217.00 100.00 2,200.53 |
| £159,702.59 | |
| Total Expenditures 5100 Salary costs 5101 Gross wages 5102 Employers NIC 5103 Employer pension Total for 5100 Salary costs 5200 Freelance staff 5201 Programmes freelance staff 5202 Accountancy 5205 Other consultancy costs Total for 5200 Freelance staff 5300 Other staff costs 5301 Recruitment Costs 5303 DBS Total for 5300 Other staff costs 6100 Programme costs 6101 Programme Delivery Costs 6102 Programme travel, incl Oyster card top-ups 6103 Marketing and promotion 6105 Programme resources and materials 6107 Youth Bursary 6199 Other prgramme costs Total for 6100 Programme costs 6200 General running costs 6201 IT and computer costs 6202 Insurances 6205 Dues and Subscriptions 6206 Bank and PayPal Fees 6208 Other office costs 6209 Other Professional Services |
£159,702.59 129,594.46 6,808.71 660.42 |
| £137,063.59 7,102.80 7,236.00 5,446.00 |
|
| £19,784.80 10,061.56 54.00 |
|
| £10,115.56 1,247.52 675.61 965.56 46.08 87.10 198.05 |
|
| £3,219.92 805.79 383.97 2,646.34 66.58 366.40 448.45 |
| 6211 Refreshments 6212 Staff travel and subsistence 6213 Depreciation 6215 Independent Examination Total for 6200 General running costs Total for Expenditures Net Operating Income Other Income 8880 Brought forward funds Total for Other Income Other Expenditures Unrealized Gain or Loss Total for Other Expenditures Net Other Income Net Income/(Expenditure) |
17.95 308.95 757.75 1,476.00 |
|---|---|
| £7,278.18 | |
| £177,462.05 | |
| -£17,759.46 £0.00 |
|
| £0.00 | |
| £0.00 | |
| £0.00 | |
| -£17,759.46 |
Accrual Basis Thursday, 28 May 2026 12:57 PM GMTZ
12 May 2026
Shadow To Shine CIO 5 Dorset Street Marylebone London W1U 6QT
Our Ref : RC/ CF/SHADO/C
Dear Jennifer
Shadow To Shine CIO Independent Examination for the year ended 31 August 2025
As is customary on completion of an independent examination, I am writing a letter to yourself as Trustee summarising the main matters arising, and you should discuss these areas with the other Trustees at an appropriate Trustees meeting.
1. Review of Accounts
The financial statements have been appropriately prepared in accordance with (1) 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 (FRS102) effective 1 January 2015 known as the Charities SORP (FRS102)) and (2) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). The Trustees Report was consistent with the financial statements, and the financial statements included the necessary disclosures to comply with the reporting requirements.
2. Independent Examination
My examination was carried out in accordance with the General Directions of the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
The bookkeeping and financial reporting systems were appropriate to the nature and scope of operations undertaken by the charitable company. Financial records were well maintained and all items requested were made
available to us efficiently.
An updated version of the Charity SORP has been introduced with the first set of financial statements to be affected being the year ended 31 August 2027. Further details of the changes that will affect the CIO will be included in next years final letter but the main chages that we will anticipating affecting the CIO will be changes to the Trustees Report. The SORP does identify significant changes to the recognition of income but as the majority of the CIO’s income is by way of grants or donations, a non-exchange transacion, then the new SORP shouldn’t change the way income is reflected in the financial statements. There are also signficiant changes to lease commitments and that they now need to be reflected on the balance sheet, along with the related asset, and so, whilst the CIO currently has no leases, future leases will need to be recorded in line with the new SORP.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 130 of the 2011 Charities Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
If there are any issues you wish to discuss relating to the Accounts, please do not hesitate to contact me.
Yours sincerely,