**Charity number: 296318** ## **THE STUART YOUNG FOUNDATION** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2024** ## **THE STUART YOUNG FOUNDATION** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 3| |**Trustees' responsibilities statement**|4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 17| ## **THE STUART YOUNG FOUNDATION** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024** |**Trustees**|Lesley Aaronson| |---|---| ||Henry Grunwald| ||Ernest Kochmann (deceased 12 April 2025)| ||Martin Paisner CBE| ||Lady Karen Rix| ||Mark Mishon| ||Denis Aaronson| |**Charity registered**
**number**
296318
**Principal office**
2 Lonsdale Road
London
NW6 6RD
**Accountants**
Nyman Libson Paul LLP
Accountants & Statutory Auditors
124 Finchley Road
London
NW3 5JS
**Bankers**
Barclays Bank PLC
99 Hatton Garden
London
EC1N 8DN
HSBC PLC
18 Ballard Lane
London
N3 2BH
**Solicitors**
Payne Hicks Beach
10 New Square
Lincoln's Inn
London
WC2A 3QG
**Investment advisors**
Veritas Investment Partners (UK) Limited
Riverside House
2a Southwark Bridge Road
London
SE1 9HA|| Page 1 ## **THE STUART YOUNG FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** The trustees present their report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective from 1 January 2019). ## **Objectives and activities** The objectives of the charity are to apply the capital and income of the trust fund to make grants to students undergoing a university education or training, or for other charitable purposes as the trustees in their absolute discretion think fit. All proposals for grants are generated internally and the trustees advise that external applications for funding will not be considered. ## **Public Benefit** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. ## **Achievements and performance** During the year 40 unrestricted grants (2023: 37) and 18 restricted grants (2023: 14) to individuals, totalling to £65,000 unrestricted (2023: £51,500) and £39,400 restricted (2023: £21,000) were approved. The trustees consider that these represent an appropriate exercise of their discretionary powers. The charity plans to continue to fund university educations through restricted and unrestricted grants for the forseeable future. ## **Financial review** Apart from restricted donations received for £12,500 (2023: £2,500) and unrestricted donations received to the amount of £14,020 (2023: £5,200) the trust relies on the income from its investments which amounted to £13,712 (2023: £12,349) for the year ended 31 December 2024. It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. The level of unrestricted funds at 31 December 2024 was £581,056 (2023: £552,332) and restricted funds was £542,880 (2023: £569,780). The charity has free reserves of £497,056 (2023: £468,332). ## **Investment policy** There are no restrictions on the trust's power to invest and the trustees have not adopted an ethical investment policy. The investment managers have been instructed to manage the portfolio on the basis of greatest income consistent with security and protection. The investment performance in the year was considered satisfactory in light of the current market instability. The total value of investments at the reporting date was £1,142,031 (2023: £1,115,995) and the portfolio experienced a gain in valuation of £91,036 (2023: £111,691). ## **Risk Management** The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. In particular, the trustees have delegated the management of their portfolio to a reputable firm of investment managers and subject their performance to regular review. The trustees have no immediate plans to modify or radically change any of the objects, activities or policies described above. Page 2 ## **THE STUART YOUNG FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Structure, governance and management** The trust is an unincorporated body, constituted under a trust deed dated 20 February 1987 and is a registered charity. The trust was established by an initial gift of £1,000 from Mrs Shirley Young. The trust does not actively fundraise, however it maintains a careful stewardship of its existing resources. The trustees who served during the year and up to the date of signature of the financial statements were: Lesley Aaronson Henry Grunwald Ernest Kochmann (deceased 12 April 2025) Martin Paisner CBE Lady Karen Rix Mark Mishon Denis Aaronson The Foundation also notes with great sadness the passing of both Mrs Shirley Young in December 2023, who was a Founding Trustee involved in the early stages of the launching of the charity, and Mr Ernest Kochmann in April 2025, who served as a Trustee in the recent years. We send their families our deepest condolences at this time. The trust deed provides a minimum of three trustees and a maximum of eight trustees as agreed at the AGM in December 2024. The power of appointing new or additional trustees is exercisable by the trustees. The trustees meet at such intervals as they consider appropriate. The trust has no full or part time employees to assist in the running of the charity. Approved by order of the members of the board of Trustees on 16 October 2025 and signed on their behalf by: **Lesley Aaronson** Trustee **Mark Mishon** Trustee Page 3 ## **THE STUART YOUNG FOUNDATION** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024** The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 and 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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. Approved by order of the members of the board of Trustees on 16 October 2025 and signed on its behalf by: **Lesley Aaronson** Trustee **Mark Mishon** Trustee Page 4 ## **THE STUART YOUNG FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Independent Examiner's Report to the Trustees of The Stuart Young Foundation ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 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 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent Examiner'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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Dated: 17 October 2025 Andrew Thomas ACA ## **Nyman Libson Paul LLP** Accountants & Statutory Auditors 124 Finchley Road London NW3 5JS Page 5 ## **THE STUART YOUNG FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** |Note
**Income from:**
Donations and legacies
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
7
**Total expenditure**
Net realised gains on investments
(Losses)/gains on revaluation of
investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|Restricted
funds
2024
£
12,500
-
12,500
-
39,400
39,400
-
-
(26,900)
569,780
(26,900)
542,880|Unrestricted
funds
2024
£
14,020
13,712
27,732
1,398
88,646
90,044
18,294
72,742
28,724
552,332
28,724
581,056|Total
funds
2024
£
26,520
13,712
40,232
1,398
128,046
129,444
18,294
72,742
1,824
1,122,112
1,824
1,123,936|Total
funds
2023
£
7,700
12,349| |---|---|---|---|---| |||||20,049| |||||1,384
90,618| |||||92,002| |||||11,583
100,108| |||||39,738| |||||1,082,374
39,738| |||||1,122,112| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 17 form part of these financial statements. Page 6 ## **THE STUART YOUNG FOUNDATION** ## **BALANCE SHEET AS AT 31 DECEMBER 2024** ||||2024|2024||2023| |---|---|---|---|---|---|---| ||Note||£|||£| |**Fixed assets**||||||| |Investments|13||1,142,031|||1,115,995| ||||1,142,031|||1,115,995| |**Current assets**||||||| |Debtors|14|20||-||| |Cash at bank and in hand||7,254||22,897||| |Creditors: amounts falling due within one||||||| |year|15|(25,369)||(16,780)||| |**Net current liabilities / assets**|||(18,095)|||6,117| |**Total assets less current liabilities**|||1,123,936|||1,122,112| |**Total net assets**|||1,123,936|||1,122,112| |**Charity funds**||||||| |Restricted funds|16||542,880|||569,780| |Unrestricted funds|16||581,056|||552,332| |**Total funds**|||1,123,936|||1,122,112| |The financial statements were approved and authorised||for issue by the Trustees on 16 October||||2025 and| |signed on their behalf by:||||||| |**Lesley Aaronson**||**Mark**|**Mishon**|||| |Trustee||Trustee||||| The financial statements were approved and authorised for issue by the Trustees on 16 October 2025 and signed on their behalf by: The notes on pages 8 to 17 form part of these financial statements. Page 7 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. General information** The Stuart Young Foundation is a charity registered in England and Wales constituted under a trust deed dated 20 February 1987. The registered office is 2 Lonsdale Road, London NW6 6RD. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Stuart Young Foundation 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 relevant accounting policy. The accounts are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial instruments are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies are set out below. ## **2.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequatee resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 Income** All income is recognised once the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations, legacies and income tax recoverable in relation to donations received under Gift Aid or deeds of covenant are recognised on receipt subject to the income recognition critera being met. Dividends arising on equity investments are accounted for in the year they are due and receivable. Interest receivable on fixed interest securities and cash deposits is accrued. Page 8 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Liabilities are recognised as expenditure once there is a legal and constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated to the one charitable activity in the statement of financial activities. The costs of generating funds consist of investments management fees. Costs of charitable activities include grants made. Grants payable are payments made to third parties in the furtherance of the charity's objectives. The grants are accounted for where either trustees have agreed to pay a grant without condition and the recipient has a reasonable expectation that they receive a grant, or any condition attaching to the grant is outside the control of the charity. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. ## **2.5 Investments** Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **2.6 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.7 Cash at bank and in hand** Cash and cash equivalents include cash in hand, deposits held at call with banks and other shortterm liquid investments with original maturities of three months or less. ## **2.8 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Page 9 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **3. Critical accounting estimates and areas of judgment** In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The Trustees do not believe there to be judgements or estimates that would be considered critical to the financial statements. ## **4. Income from donations and legacies** ||Restricted|Unrestricted|Total|Total| |---|---|---|---|---| ||funds|funds|funds|funds| ||2024|2024|2024|2023| ||£|£|£|£| |Donations and gifts|10,000|14,020|24,020|200| |Legacies|2,500|-|2,500|7,500| In 2023, there were £2,500 donations related to restricted funds, and £5,200 related to unrestricted funds. ## **5. Investments** |Dividends
Interest receivable|Unrestricted
funds
2024
£
13,576
136
13,712|Total
funds
2024
£
13,576
136
13,712|Total
funds
2023
£
12,112
237| |---|---|---|---| ||||12,349| In 2023, £12,349 related to unrestricted investment income and £NIL related to restricted investment income. Page 10 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **6. Raising funds** ||Unrestricted|Total|Total| |---|---|---|---| ||funds|funds|funds| ||2024|2024|2023| ||£|£|£| |Investment management costs|1,398|1,398|1,384| In 2023, £1,384 related to unrestricted investment management fees and £NIL related to restricted investment management fees. ## **7. Analysis of expenditure on charitable activities** ## **Summary by fund type** ||Restricted|Unrestricted||| |---|---|---|---|---| ||funds|funds|Total|Total| ||2024|2024|2024|2023| ||£|£|£|£| |Grant funding of activities|39,400|88,646|128,046|90,618| In 2023, £69,618 related to unrestricted expenditure and £21,000 related to restricted expenditure. ## **8. Analysis of grants** ||Grants to|Total|Total| |---|---|---|---| ||Individuals|funds|funds| ||2024|2024|2023| ||£|£|£| |Grants to individuals|104,400|104,400|72,500| During the year 40 unrestricted grants (2023: 37) and 18 restricted grants (2023: 14) were made to individuals. In 2023, £55,000 related to unrestricted grants and £22,250 related to restricted grants. Page 11 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **9. Analysis of expenditure by activities** ||Grant|||| |---|---|---|---|---| ||funding of|Support|Total|Total| ||activities|costs|funds|funds| ||2024|2024|2024|2023| ||£|£|£|£| |Charitable expenditure|104,400|23,646|128,046|90,618| ## **Analysis of support costs** |Activities
2024
£
Legal, professional and other expenses
16,306
Governance costs
7,340
23,646
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|Total
funds
2024
£
16,306
7,340
23,646
2024
£
4,600|Total
funds
2023
£
11,118
7,000| |---|---|---| |||18,118| |||2023
£
4,600| ## **10. Independent examiner's remuneration** ## **11. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year to 31 December 2024, no charitable expenses were reimbursed to Trustees (2023: £NIL). ## **12. Employees** There were no employees during the current or prior year. Page 12 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **13. Fixed asset investments** |**Cost or valuation**
At 1 January 2024
Disposals
Gains / (losses) on investments
At 31 December 2024
**Net book value**
At 31 December 2024
At 31 December 2023|Listed
investments
£
1,115,995
(46,706)
72,742
1,142,031
1,142,031
1,115,995| |---|---| ## **14. Debtors** |**Due within one year**
Accrued income
**Creditors: Amounts falling due within one year**
Other creditors
Accruals and deferred income|2024
£
20
2024
£
-
25,369
25,369|2023
£
-| |---|---|---| |||2023
£
4,517
12,263| |||| |||16,780| ## **15. Creditors: Amounts falling due within one year** Page 13 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **16. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Leo Baeck Fund
Anglo Jewish Association
Nina Drucker Scholarship
Fund
The Newson Trust Fund
The Shirley Young Fund
**Total of funds**|Balance at 1
January
2024
£
552,332
563,780
6,000
-
-
-
569,780
1,122,112|Income
£
27,732
-
-
500
10,000
2,000
12,500
40,232|Expenditure
£
(90,044)
(26,900)
-
(500)
(10,000)
(2,000)
(39,400)
(129,444)|Gains/
(Losses)
£
91,036
-
-
-
-
-
-
91,036|Balance at
31
December
2024
£
581,056| |---|---|---|---|---|---| ||||||536,880
6,000
-
-
-| ||||||542,880| ||||||1,123,936| Page 14 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **16. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
General funds
**Restricted funds**
Leo Baeck Fund
Anglo Jewish Association
Nina Drucker Scholarship
Fund|Balance at
1 January
2023
£
494,094
Balance at
1 January
2023
£
582,280
6,000
-
588,280|Income
£
17,549
Income
£
-
-
2,500
2,500|Expenditure
£
(71,002)
Expenditure
£
(18,500)
-
(2,500)
(21,000)|Gains/
(Losses)
£
111,691
Gains/
(Losses)
£
-
-
-
-|Balance at
31
December
2023
£
552,332| |---|---|---|---|---|---| ||||||Balance at
31
December
2023
£
563,780
6,000
-| ||||||569,780| **Leo Baeck Fund** : To promote the advancement of education and in particular by the provision of awards (known as the Leo Baeck Awards) for Jewish post-graduate students. **Anglo Jewish Association** : The donation was specifically to promote the advancement of education for graduates of the Bar Ilan and Hebrew Universities studying for doctorates in the UK. **Nina Drucker Scholarship Fund** : Legacy fund used to support advanacement of education of a postgraduate student. **The Newson Trust Fund:** The donation was specifically to promote the advancement of education for post-graduate students. **The Shirley Young Fund:** Legacy fund used to support advancement of education of a post-graduate student. Page 15 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **17. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |Fixed asset investments
Current assets
Creditors due within one year
**Total**
**Analysis of net assets between funds - prior period**
Fixed asset investments
Current assets
Creditors due within one year
**Total**|Restricted
funds
2024
£
-
542,880
-
542,880
Restricted
funds
2023
£
-
569,780
-
569,780|Unrestricted
funds
2024
£
1,142,031
(535,606)
(25,369)
581,056
Unrestricted
funds
2023
£
1,115,995
(546,883)
(16,780)
552,332|Total
funds
2024
£
1,142,031
7,274
(25,369)
1,123,936
Total
funds
2023
£
1,115,995
22,897
(16,780)
1,122,112| |---|---|---|---| ## **18. Related party transactions** During the year to 31 December 2024, the charity received £26,000 (2023: £Nil) of donations in aggregate from charities connected to the trustees. There were no further related party transactions requiring disclosure during the year. Page 16 ## **THE STUART YOUNG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **19. Grant commitments** As at 31 December 2024, the charity had the following grant commitments, which will be funded by their free reserves. |Less than one year
1-2 years
2-5 years|2024
£
51,000
27,000
6,000
84,000|2023
£
65,500
48,500
29,500| |---|---|---| |||143,500| Page 17