THE SANCTORAS FOUNDATION
Unaudited financial statements For the year ended 31 March 2025
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THE SANCTORAS FOUNDATION
| Contents Directory Trustees’ Report - Financial review and reserves policy Statement of Financial Activities Balance Sheet Notes to the financial statements |
PAGE |
|---|---|
| 3 4 6 7 8 - 10 |
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THE SANCTORAS FOUNDATION
Directory
| Date of registration | 13 June 2023 |
|---|---|
| Charity registration number | 1203534 |
| Organisation type | CIO |
| Gift aid | Not recognised by HMRC for gift aid |
| Policies | Internal charity financial controls policy and procedures |
| Internal risk management policy and procedures | |
| Risk management | |
| Safeguarding policy and procedures | |
| Safeguarding vulnerable beneficiaries | |
| Serious incident reporting policy and procedures | |
| What the charity does | General Charitable Purposes |
| Economic/community development/employment | |
| Who the charity helps | Children/young people |
| The General Public/mankind | |
| How the charity helps | Makes Grants To Individuals |
| Makes Grants to Organisations | |
| Provides Other Finance | |
| Provides advocacy/advice/information | |
| Where the charity operates | Throughout England and Wales |
| Chair | (i) James Heathcote |
| Trustees | (i) Christine Julie Heathcote (appointed 1 March 2025) |
| (ii) Karen Payne (appointed 1 March 2025) | |
| (iii) John Dickinson (terminated 1 March 2025) | |
| (iv) Paul Richardson (terminated 1 March 2025) | |
| Principal office | 124 City Road |
| London | |
| EC1V 2NX |
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THE SANCTORAS FOUNDATION
Trustees’ Report - Financial review and reserves policy For the year ended 31 March 2025
SUMMARY
The Charity is a Charitable Incorporated Organisation (CIO) with an association Governing Document. This was registered on 13 June 2023.
In line with the Charity's ongoing requirement to review its activities, structure and governance, two of the trustees retired and two new trustees appointed during the year. The Board of Trustees looks forward to increasing its activities in the year ahead.
During the year the Charity engaged in initial discussions with a number of potential beneficiaries, being other charitable organisations, concerning the Charity providing support in-kind through business coaching and similar activities in line with the Charity's objects. After careful consideration, the trustees determined that the potential projects would benefit more immediately from support from other sources and so did not proceed. It has, nonetheless, been a positive year for the Charity in engaging with causes relevant to its objects and continuing to refine the approach it wishes to pursue.
RESPONSIBILITIES OF THE TRUSTEES FOR THE ACCOUNTS
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and regulations.
The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the provisions of the Charity’s constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Insofar as each of the trustees of the charity at the date of approval of this report is aware, there is no relevant information of which an independent examiner of the Charity Commission should be aware. Each trustee has taken all of the steps that he/she should have taken as a trustee in order to make himself/herself aware of any relevant information and to satisfy themselves that the Charity's position is complete and correct.
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SIGNED on behalf of the Board of Trustees
...................................................
J Heathcote
Chairman of the Board of Trustees
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THE SANCTORAS FOUNDATION
Statement of Financial Activities
(including income and expenditure account) For the year ended 31 March 2025
| Income Notes Income and endowments from: Investment income: Total income Expenditure Expenditure on general activities: Expenditure on charitable activities: Total expenditure Reconciliation of funds Net expenditure Total funds brought forward Total funds carried forward |
2025 £ - - |
2024 £ - - |
|
|---|---|---|---|
| - - - - |
- - - - |
||
| - - |
- - |
||
| - | - |
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THE SANCTORAS FOUNDATION
| Current assets Net assets The funds of the charity Total charity funds Balance Sheet As at 31 March 2025 Unrestricted income funds |
Notes | Notes | 2025 £ - |
2024 £ - |
|---|---|---|---|---|
| - | - | |||
| - | ||||
| - |
The notes at pages 7 to 9 form part of these financial statements.
Approved by the Trustees on and signed on their behalf by:
James Heathcote Chair
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THE SANCTORAS FOUNDATION
For the year ended 31 March 2025
Notes to the financial statements
1 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP FRS 102 applicable to charities preparing their accounts in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
b) Preparation of the accounts on a going concern basis
After making enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial. There are no material uncertainties casting doubt on going concern.
DEPRECIATION
Depreciation is provided at a rate calculated to write off the excess of cost over estimated residual value evenly over the estimated useful economic lives of each class of asset, subject to annual review.
INCOME
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources;
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Running events
Income is included when receivable by the charity, the point at which it becomes certain.
Donations
These are generally included when received by the charity, since it is virtually impossible to be certain of the income before this point. Gift aid recoverable on donations received is included once this can be quantified with reasonable certainty.
Legacies
These are included once the charity's legal right to the legacy has become clear and once the legacy can be quantified with reasonable accuracy.
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Gramts from charitable foundations
These are recognised as income when receivable unless specific conditions need to be met, and which suggest the grant should be deferred.
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THE SANCTORAS FOUNDATION
Notes to the financial statements (continued) For the year ended 31 March 2025
EXPENDED RESOURCES
Liabilities
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be
Expended resources are, as far as is possible, included in the period to which they relate. All expenditure is accounted for on an accruals basis and the majority is directly attributable to specific activities. Other indirect costs are apportioned to activities in accordance with staff activity and an assessment of where the resources have been applied.
All expenditure is classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities in accordance with staff activity or an assessment of where the resources have been applied.
GOVERNANCE AND SUPPORT COSTS
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
FUNDS
The Funds that may be held by the charity are: -
Unrestricted funds
These are funds which can be used in accordance with the charitable objects.
Designated funds
These are restricted funds earmarked by the trustees for particular purpose.
GOING CONCERN
We have adequate financial resources and are well placed to manage the business risks. Our planning process, including financial projections, has taken into consideration the current economic climate and its potential impact on the various sources of income and planned expenditure.
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THE SANCTORAS FOUNDATION
Notes to the financial statements (continued)
For the year ended 31 March 2025
2 GRANTS PAYABLE
No grants were made in the period.
| 3 | STATEMENT OF UNRESTRICTED FUNDS At 1 April 2024 Surplus/deficit for the period At 31 March 2025 |
General fund £ - - |
General fund £ - - |
Total £ - - |
||
|---|---|---|---|---|---|---|
| - | - |
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