69 SYP Trust
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Shaftesbury Homes & Arethusa
Annual Report & Accounts
2024-2025
Registered charity no. 311697
Company no. 00081186
Image @ Shadwell Community Project

Contents
The trustees, who are directors for the purposes of company law, present
the annual report together with the financial statements and auditors,
report of the charitable company for the year ended 31 March 2025.
Reference and Administrative Details
Strategic Report
Trustees, Report
12
Independent Auditors, Report
19
Statement of Financial Activities
23
Balance Sheet
24
Statement of Cash Flows
25
Notes to the Financial Statements
26
Shaftesbury Homes & Arethusa Annual Report 2024-2025
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Reference and Administrative Details
Registered office
l O Bridge Street
Christchurch
Dorset
BH23 1 EF
Bankers
The Royal Bank of Scotland PIC
1 Fleet Street,
London,
EC4Y I BD
CAF Bank
30 Old Broad St
London
EC2N 1 HT
Auditors
TC Group
l O Bridge Street
Christchurch
Dorset
BH23 1 EF
Investment Managers
Waverton Investment Management LTD
16 Babmaes St,
St. James's,
London
Solicitors
Bates Wells Braithwaite
l O Queen Street Place,
London
EC4R I BE
Registered Company number
81186 (England and Wales)
Registered Charity number
311697 (England and Wales)
Website
www.shaftesburyyoungpeople.org
The trustees and officers serving during the year and since the year end were
as follows:
C Searle- Chair
E Bancroft-Treasurer
R Black- Deputy Chair
S Cheal - resigned 17 June 2025
S Irving
G Booth
TThompson
D Vassell-Ahiaku
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Strategic Report
Who we are
Ourvalues
Our grants support voluntary and
community based organisations
working to transform the lives of
children and young people in London.
Founded in 1843, Shaftesbury Young
People has been delivering services for
children and young people for over
180 years. We have a proud history
of supporting young people who face
additional barriers, having run many
services across the UK, including
children's homes and schools.
Positivity: Every young person
has the right to live their lives
with hope and opportunity.
We innovate to find solutions
to problems, and focus on the
potential in every situation.
Unity: As a small charity with
limited resources we need to
work smartly with others to
make an impact. Our grant-
making is based around
building collaborative two-
way relationships that have a
positive effect on voluntary and
community based organisations,
while also helping to strengthen
the sector.
The charity reformed to become a
grant-making body, SYP Trust, in 2021.
We use the legacy of our experience
and our financial endowment to
strengthen the community support
available to young people across
London. We support young people
to learn, be healthy, be heard, and
achieve the life goals that mean
the most to them. We fund work to
remove the barriers and challenges
many young people face when
working towards these goals and
which contribute to the widening
inequality in our society.
Agility: Small can be beautiful.
We seek out community
organisations that are agile
enough to be truly responsive
and innovative in their work. Our
grants are small but they make a
big difference to organisations we
support, and we're not afraid to
fund fresh approaches.
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Welcome from the Chair
Clare Searle
It was a busy year of learning and focusing our efforts to maximise impact. Work
undertaken included updating our strategy to focus on mental health, focused
employment and skills support, and leadership skills with practical applications,
to influence local decision making. Further planned work is outlined below, and is
in part necessitated by the significant increase in requests received as a result of
the difficult market for fundraising at present, and the difficult time for charities
as a result.
As a first step we significantly revised our application process to reduce applicant
time after receiving over l 00 % more applications than the previous year. This has
moved to a 2-stage process with a very simple Expression of Interest statement as
the first step, allowing us to more effectively invite applications from those which
most closely match our strategic aims. The 2nd stage form has been adapted with
input from all trustees, including those who fundraise for a living, seek to simplify
processes and prioritise more effectively, and those running other charitable
organisations.
The new process is both clearer and more streamlined, has received positive
feedback to date, and will save organisations significant time we hope.
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Looking Ahead
As we continue to support grassroots organisations that serve young people
in London, our trustees are focusing on four key areas of development for the
coming year, with working groups set up to discuss options and a strategy day
planned to sign off decisions:
Support Beyond the Grant
We are exploring how to add value beyond funding-whether through capacity
building, mentorship, or practical support-to help grantees grow stronger, more
stable, and better equipped to deliver lasting impact for the young people they
serve. We are seeking ways to add value from within the existing trustee/ supporter
team and via small budgets to fund additional support. Some support will be
proactively offered to all, and other support will be tailored to the needs of our
grantees as they raise challenges to us.
Environmental Sustainability
We are examining our own operations and investments to ensure they align with
long-term environmental responsibility. We also want to help our grantees embed
sustainable practices into their work through shared learning, practical tools, and
collaborative action. We are committing ourselves to understanding our impact and
offering value-add support to grantees in this area.
Youth Inclusion and Leadership
Our vision is to ensure that young people are at the heart of everything we do.
We are committed to appointing young trustees to our board, working with youth
advisory groups, and exploring participatory grant-making models that give young
people greater power in decision making. We are exploring part-funding a young
trustee development cohort with an organisation who has successfully developed
young trustees. The cohort will we hope allow us to move towards youth inclusion
in our board, and allow grantees to (where appropriate) acce55 Potential trustees.
Our Future Role in the Sector
We are reflecting on the long-term future of SYP Trust. Should we be a permanent
backbone funder of small grants, or focus on maximising impact over a defined
period? These strategic questions will shape our financial planning and
partnerships in the years to come. We will continue to listen, learn, and collaborate
with trusted partners as we evolve into the funder we aspire to be-responsive,
inclusive, and committed to meaningful change.
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Our ImpactThisYear- At a Glance
Our numbers reflect our intentional direction for the year,"
more focused interventions with smaller cohorts of targeted young people,.
increasing our youth voice and health-related grants;
and an increase in our ceiling grant spend during the year.
Individual Boroughs are not specifically targeted, however IMD stats may be taken
into account during assessment, where funds are limited. Four of our grants in the
year were London-wide, but these have not been reflected in the figures for London
Boroughs reached.
Grants awardedlno. of organisations:
Total distributed:
This year
22
This year
£194,495
£135,932
Previous year
16
Previous year
Young people reached:
London boroughs reached:
This year
- 3898
This year
24
Previous year
~5373
Previous year
32
Spread across priorities:
This year
Previous year
11
Learning and Employment
Youth voice
Health
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Who we fund
SYP Trust is proud to support comrnunity-rooted organisations who know their
young people best. Most have annual incomes below £400,000, and are based in their
own communities, working with localised groups of children and young people. We
welcome new ideas that are based on experience and knowledge of the children and
young people who will benefit, and which could be shared within neighbourhoods
and across boroughs.
Our grantees work with young people who are predominately:
outside mainstream education and not in employment
experience mental health challenges
experience inequality
want to influence decisions about their lives and communities
Our grantees are not-for-profit entities and have the resources and experience to
manage and deliver consistent, meaningful support to young people.
How we fund
We ask our grantees to tell us about the outcomes they achieve for the children and
young people they serve, and how the funding will help them deliver, improve or
create positive changes within their organisation. We provide our funding without
restrictions to enable grantees to respond and flex to the needs of the children and
young people they will work with, as well as their own organisational needs. This can
include diverting funds to training, recruitment or fundraising for example, which are
typically less likely to be funded via restricted grants.
We steward each grant which may include a call and/or visit to help us get to know
our grantees and identify any future funding or development needs. We are open
to joint bids and partnership work and will be exploring how best to introduce our
grantees to each other to stimulate sharing of great ideas and spark new ones.
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Creating ChangeThrough Funding:
Our Three Priorities
Education & Employment
-4]1
/thFtrs FOmlD4r
Young Urban Arts Foundation: Pathways to
Confidence, Creativity and Career
htt s:Ilwww.
uaf.or
Image Q Young Urban Arts Foundation
YUAF'S Futures programme provides a vital and effective bridge for 16-19-year-olds from
marginalised communities, connecting them to creative industries and opportunities
often out of reach. With a focus on employment readiness, self-belief, and workplace
inclusion, the programme delivered tailored training, exposure to professional
environments, and personalised coaching.The results speak for themselves: 95 % of
participants gained career-aligned skills, 83 % accessed new employment pathways, and
750h improved their professional profiles. One young person shared,"I'm not shooting in
the dark anymore... I can now see how to replicate the path to where I want to be."
Beyond skills, the programme cultivated a sense of community, motivation, and self-
confidence. Participants reported increased happiness, a greater sense of belonging,
and improved outlooks on their future. The importance of personalised mentoring was
clear
"Having Laurie to guide me made me want to go out and find other opportunities,"
said one. While barriers like travel costs remain, the programme's adaptive, emotionally
supportive approach ensured young people were empowered not just to participate,
but to lead. With 800h reporting higher self-confidence, YUAF Futures is helping a new
generation feel seen, supported, and ready to shape their own futures.
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Case study
When BM joined YUAF Futures, she was a young creative brimming with potential but
held back by anxiety, low confidence, and a lack of clear professional direction. With a
keen interest in media and storytelling, she was eager to explore but uncertain of her
place in the industry. Through a blend of tailored support and creative opportunities,
BM stepped out of her comfort zone, growing in confidence and self-awareness.
She immersed herself in content creation, music production, and professional skills
training, gradually transforming into an engaged, proactive contributor.
A pivotal moment came when BM secured a five-week paid placement with two
leading creative agencies.There, she not only built hands-on production skills but also
mastered workplace communication, client engagement, and project management.
Supported by therapeutic sessions alongside her training, BM overcame her anxiety
and led a professional feedback meeting with confidence-something she once
found unimaginable. Now continuing work with one of the agencies and benefiting
from ongoing mentorship, BM is building a career with clarity, connection, and a
strong sense of purpose. She credits YUAF Futures with providing not just skills but
belief-proof that she belongs in the industry she'5 passionate about.
F2,
Image
Young Urban Arts Foundation
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Health &Wellbeing
FREE':KIDS
Free to be Kids: Building Confidence and
Connection through mentoring
htt
freetobekids.or
.uk
Image @ Free to be Kids
Free to be Kids has seen remarkable progress through its peer mentoring programme,
supporting 12 active mentor-mentee pairs in 2024/25. Some of the most disadvantaged
young people across London worked towards personal goals such as managing
frustration, building trust with safe adults, and developing confidence in making friends.
While recruiting mentors posed a challenge-especially finding those able to commit
alongside work or university-they retained the integrity of their model of using volunteers
from their residential activities to grow their mentor base.The success of this approach
reaffirmed the importance of relational continuity: that trusted connections, formed
through shared lived experience, are a powerful foundation for personal development.
In their own words:
It's given me someone I can trust."S, aged 12.
"My mentor helped me build back my confidence in school after Dad died."Taged 13
"l used to be so angry, but now I feel like I can escape the cycles I have. It feels good." D
Case study
D's (aged 12) mum struggles with drug and alcohol abuse and has severe mental
health problems, which led to D often seeing her mother drunk and high. D now
stays with her auntie, but has a lot of anxiety from her childhood. Her worries led
her to refuse to go to school and barely leave the house. Meeting Emily through
the mentoring programme was a real turning point for D. They would have a lot of
fun, they even went on a day trip to Eastbourne, where they ate fish and chips and
skimmed stones across the water. As well as getting D out of the house, Emily was
able to offer her the emotional support she desperately needed, giving D the time to
talk and be listened to, something she does not receive from peers at school. D's aunt
told us that Emily was a big part of D's decision to return to school because they spent
hours talking it through together. D is beginning to build a friendship group now she
feels more confident.
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Youth Voice
Innercity Films l Future Hackney: Rise Up-The
story ofyoung people from Rise 365. Kingsmead
Estate and Dalston
Image C) Future Hackney
htt s:Ilfuturehackne
.comlabout
With SYP Trust's support, Future Hackney delivered a powerful, youth-led visual
Storytelling project in partnership with Rise 365 and outreach young people from
Hackney's Kingsmead Estate and beyond. 25 Young people aged between 14 and 20
approached the organisation with a desire to challenge negative perceptions of their
community and used photography, oral history, and visual art to dojust that. Through
hands-on workshops, they developed a wide range of creative and technical skills-
interviewing, editing, curation, and archival research-all while exploring the cultural
significance of local spaces like Ridley Road and Kingsmead. The resulting work was
both deeply personal and community-focused, with young people leading the design,
storytelling, and presentation of their narratives.
The project created space for participants to build confidence, public speaking skills,
and new ambitions in the creative industries. Unexpectedly, its popularity drew
in additional hard-to-reach young people, prompting the team to adopt a more
inclusive and flexible approach to participation. The experience also revealed a need
for more accessible tools-some participants struggled with traditional photography
equipment, leading Future Hackney to integrate smartphone photography into
future programming.The legacy of the project is clear: stronger youth voice, elevated
community pride, and a group of young creatives now equipped to tell their own
stories, on their own terms.
In their own words:
I really enjoyed learning more about the Ridley Road community as it's a place that's
always been part of my daily life, but one I hadn't truly looked at in depth before.
Through the workshop, and especially by exploring its history, I came to understand
just how significant and enduring the road is. It gave me a new perspective. l also
loved working alongside otheryoung people who, like me, were amazed by what we
uncovered through photography, the culture, the people, the stories. It made me feel a
deep sense of pride, and protective of the community." (B)
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I learned about the history and global relevance of street photography, its uses, its
purposes, and its power as an art form to help us understand the world around us.
This was brought to life through hands-on experiences with both darkroom and
Polaroid photography, which I had never done before. l also began to see the value
of intergenerational storytelling. As a young black woman, I found listening to older
generations particularly meaningful. Documenting their stories on Ridley Road made
me realise how important their voices are, and it gave me confidence in my ability to
represent them respectfully and creatively." IS)
"I'm really enjoying being part of work that connects and celebrates my community,
especially at a time when people can feel disconnected or isolated. It means a lot to
be involved in something that brings people together and reminds us of our shared
heritage. It's also great to be able to share news of the project and see how proud
people of what are we're creating together." (T)
4uvE
Images ID Future Hackney
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The Trustees are pleased to present the Report and Financial Statements for Shaftesbury Homes and Arethusa for the year ended 31 March 2025. .  They show net income for the year of£95,574 (2024 £1,285,433) 

TheT rustees confirm that the Annual Report and Financial Statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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 2015) and update Bulletin 1. 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The objectives of the Charity are to support and assist children and young people in need or in care in order to relieve their needs for the public benefit including by: helping them to participate in decision-making and to have their views heard; helping them to learn and take part in a wide range of recreational and leisure time activities; helping them to be healthy; helping them to stay safe; helping them to make a positive contribution to society; and helping them to achieve economic and social well-being. 

In doing so, SYPTrust has regard to the principles of the United Nations Convention on the Rights of the Child. 

## **Public benefit** 

TheT rustees have considered the matter of public benefit and are satisfied that SYP Trust meets the two main principles, as follows: 

## **Principle 1 - There must be an identifiable benefit.** 

The clear benefits delivered by SYPTrust are aligned with the UK Government Children Act 2004, to maximise opportunities and minimise risks for all children and young people, in particular the intention to concentrate on outcomes that children and young people themselves have said are important, rather than prescribing organisational change. 

**12** 

Shaftesbury Homes & Arethusa Annual Report 2024-2025 

www.shaftesburyyoungpeople.org 



Principle 2- Benefit must be to the public or to a section of the public.
It is the view of the Trustees that society (and therefore all of the public) benefits from
enabling young people to make the best of their opportunities.The young people
supported by SYP Trust's Grants are the section of the public most in need of pastoral
care, education and personal development, which SYP Trust's Grant Programme aims to
deliver to them.
The Trustees confirm that they have complied with the duty in section 17 of the
Charities Act 2022 to have due regard to public benefit guidance published by the
Commission in determining the activities undertaken by the Charity.
FINANCIAL REVIEW
Investment policy and objectives
SYP Trust's investment policy requires a low-risk, defensive portfolio and an income
stream that does not require a high degree of fund manager involvement. At 31 March
2025, the actual split was 18.6 % in fixed interest and 65.3 % in equity funds with the
remainder in alternative investments and cash. SYP Trust is governed byTheTrustees
Act 2000 which provides wider powers of investment. All investments are held in
Common Investment Funds or Collective Funds and are monitored by the Board with
advice and assistance from the Treasurer.
Total investment income from these securities decreased to £226,936 (2024: £286,410).
In line with general stock market movements during the year and as a result of
investments placed during the year, the market value of investments has increased from
£7.88m in 2024 to £8.042m in 2025.Trustees consider investment performance during
2024-25 to be acceptable in light of market conditions.
The Trustees reserve the right to exclude companies that carry out activities contrary to
the Charity's aims or from holding particular investment5 which damage the Charity's
reputation. The Trustees wish to preclude investment in tobacco or alcohol, and these
are defined as companies with more than 20 % of their turnover in these activities.
Reserves policy
Unrestricted funds
During the year, free reserves increased from £292,438 to £467,936 as at 31 March 2024.
The term'free reserves" describes that part of a Charity's funds that is freely available.
Free reserves exclude designated funds, endowments and restricted funds, and also any
part of unrestricted funds not readily available for spending such as fixed assets.
During the year the general fund has increased to £8.349m (2023: £7.063m).
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Restricted funds
The Charity maintains a small number of restricted income funds and follows restricted
funds management procedures when establishing and expending funds to facilitate
compliance with donor intent. Costs charged to a restricted fund relate to the activities
undertaken to further the specific charitable purposes the fund was established to
support. These costs include both direct and support costs associated with the activities
undertaken by the restricted fund. A reasonable allocation of support costs, reflecting
costs associated with raising, investing and managing the restricted fund, are charged
to the fund to which the cost relates. The Charity's restricted funds as at 31 March 2025
are £1 1,000 (2024: £11,000).
Principal risks and uncertainties
Major risks have been reviewed and procedures are in place to manage these risks. The
principal risks and uncertainties facing the Charity and how we endeavour to mitigate
these are:
Financial sustainability for the long-term
Risk.. Failure to achieve long-term financial sustainability through poor management of
invested funds, or fraudulent activity. Consequently, leading to the inability to deliver
charitable objects in the long term, irreversible depletion of free reserves and eventual
charity failure.
Mitigation.. The Invested funds are monitored quarterly by the Investment Committee
and the Investment Manager attends at least one Trustee meeting a year to present
their performance against targets. The reserves policy is reviewed annually and linked
to financial and operational risks. Internal financial controls are in place and reviewed at
least annually to ensure they are fit for purpose.
Financial and risk management objectives and policies
The Board participates in a formal risk-management process to assess business risks
and to implement risk-management strategies. The Finance Committee reviews the
risk register on at least an annual basis, responding to risks as they arise and making
recommendations to the Board. Responsibility for the Risk Register is shared among the
whole Board.
The Charity Commission's risk-management guidance is followed by the Charity. This
involves identifying the types of risks the Charity faces, prioritising them in terms of
potential impact and likelihood of occurrence, and identifying the means of mitigating
the risks.
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STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trustees have committed to improving on equality, diversity and inclusion (EDI)
throughout the Charity, from our grant-making up to ourTrustee Board. Our aim is
to create a Board that includes lived or living experiences of all or most of the areas
we wish to target within our strategy. During the year, the Board recruited two new
Trustees who have supported this growth of knowledge and experience within the
Board. We will continue to work on including our beneficiary group in a meaningful
and positive way. Our ultimate aim is to be able to welcome young people onto our
Board of Trustees.
Governing document
The charity is controlled by it5 governing document, a deed of trust, and constitutes a
limited company, limited by guarantee, as defined by the Companies Act 2006.
Shaftesbury Homes and Arethusa was founded in 1843 and incorporated under Royal
Charter in 1904. At their meeting on 28 March 2009, theTrustees agreed to adopt the
working name of'shaftesbury Young People, ('SYP') with effectfrom 2 April 2009. In
January 2021, following the new direction into grant-making, the Trustees agreed to
add'Trust'tothe nameand usetheabbreviation 'SYP Trust, in all future materials.
SYP Trust's governing document is its Memorandum and Articles of Association, last
revised at a general meeting held on 25 May 2021. It does not have a share capital, the
liability of the members being limited by guarantee.
Recruitment, appointment and training of trustees
SYP Trust Is governed by the Board of Trustees, who are appointed on the basis of their
personal interest, commitment and skill. At the end of the period there were eight
Trustees. These include two new appointments recruited through a targeted process to
bring grant-making and lived-experience expertise to the Board.
SYP Trust seeks to ensure a good balance of Trustees through open and fair recruitment
practices. This has led to the recruitment of new Trustees from a wide range of
backgrounds and allowed us to target those with the required skills and experience. We
are always seeking to develop theTrustee body and welcome interest from anyone who
would like to become involved. Trustees are provided with induction information on
their duties and responsibilities, including the Charity Commission Trustee Handbook,
Essential Trustee Guidance (CC3) and Conflicts of Interest Guidance (CC29). New
Trustees are asked to attend trustee training courses delivered by suitable external
providers.
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Existing Trustees are encouraged to attend refresher training every other year. Trustees
are encouraged to request further information on any issues relevant to their position
from the Board and Senior Management Team. All potential Trustees are subject to
pre-appointment checks including Enhanced Disclosure and Barring checks and a
professional reference. Once appointed, all Trustees undertake Child Protection Training.
For the Board to be capable of furthering the objects of SYP Trust, ideally the Board
should include members with skills and expertise in the following areas:
Social Care with respect to children and young people;
Youth advocacy and support;
Finance (incl Investments);
Grant-making;
Law;
Strategic and Business Planning,.
Education, training and employment.
In addition, the Trustees as a body should reflect the age, ethnicity and gender
differences in society and be able to network and influence on behalf of SYP Trust. The
Charity has adopted an Equality, diversity and inclusion policy which they keep under
review every two years or sooner should external issues require it.
Decision making
TheTrustees are responsible for setting the strategic direction of the organisation. Day-
to-day management of SYP Trust is delegated to the Charity Manager.
The Charity Commission serious incident reporting (SIR) guidance is reviewed by the
Board annually; in addition it is provided to all new Trustees upon being appointed to
the Board. Reviewing the Charity Commission serious incident reporting guidance on
an annual basis assists Trustees in identifying serious incidents and report them to the
Commission, thereby enabling them to sign the SYP Trust Annual Return declaration
in confidence that no relevant incident has been left unreported. There were no SIR'S
submitted to the Charity Commission during the period.
The Board schedules at least four meetings per year, with additional meetings in full
or in sub-committees as necessary. Responsibility for Child Protection is through the
Charity Manager and Trustees, all of whom have undertaken Child Protection training.
The SYPTrust Finance Committee meets when required.The terms of reference and
duties of the Committees are reviewed annually and are based on guidance notes
issued by the Institute of Chartered Secretaries and Administrators which reflect the UK
Corporate Governance Code (April 2016).
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Key management remuneration
Trustees review the remuneration for any employees on an annual basis, in line
with their budget approval, before the end of the previous financial year. Any
recommendation to change the remuneration is approved at a properly convened
meeting, or by email if the latter is not possible. A unanimous decision is required.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees (who are also the directors of Shaftesbury Homes & Arethusa for the
purposes of company law) 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),
including FRS 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial
year. Under company law 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
charitable company and of the incoming resources and application of resources,
including its income and expenditure, of the charitable company 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 in the Charity SORP;
make judgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards, comprising FRS 102 have been
followed, subject to any material departures disclosed and explained in the
financial statements. and
prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the charitable company will continue in
business.
The trustees are responsible for keeping proper accounting records that can disclose
with reasonable accuracy at any time the financial position of the charitable company
and enable them to ensure that the financial statements comply with the Companies
Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and
financial information included on the charitable company's website. Legislation
governing the preparation and dissemination of financial statements may differ from
legislation in otherjurisdictions.
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DISCLOSURE OF INFORMATION TO AUDITOR
Each trustee has taken steps that they ought to have taken as a trustee in order to
make themselves aware of any relevant audit information and to establish that the
charity's auditor is aware of that information. The trustees confirm that there is no
relevant information that they know of and of which they know the auditor is
unaware.
The annual report was approved by the trustees of the charity on 1 st December 2025
and signed on its behalf by:
Clare Searle- Chair of theTrustee Board
Shaftesbury Homes & Arethusa Annual Report 2024-2025
www.shaftesbur
oun
eo
le.or
18

## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Independent Auditor's Report to the Members of Shaftesbury Homes & Arethusa** 

## **Opinion** 

We have audited the financial statements of Shaftesbury Homes & Arethusa (the 'charity') for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice). 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Independent Auditor's Report to the Members of Shaftesbury Homes & Arethusa** 

## **(continued)** 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion on other matter prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

the Trustees' Report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Independent Auditor's Report to the Members of Shaftesbury Homes & Arethusa (continued)** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of trustees' responsibilities (set out on page 2), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- We obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate. 

- We obtained an understanding of how the charity is complying with those legal and regulatory frameworks by making enquires of management and Trustees. 

- We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included: 

fraud 

controls or other inappropriate influence over the financial reporting process. 

relation to income recognition and cut off 

combinations; and 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Independent Auditor's Report to the Members of Shaftesbury Homes & Arethusa (continued)** 

## **Use of our report** 

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have ‘table Company anq Its formed. req, hy] Kh 

...................................... IM Rodd BSc FCA FCCA (Senior Statutory Auditor) For and on behalf of 

Date:.............................11 December 2025 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

||**Losses)**|
|---|---|
|**Note**|**Unrestricted**<br>**funds**<br>**Restricted funds**<br>**Total**<br>**2025**<br>**Total**<br>**2024**|
|||
|**Income and Endowments from:**||
|Donations and legacies<br>3|49,587<br>-<br>49,587<br>173,785|
|Investment income<br>4|226,936<br>-<br>226,936<br>286,410|
|Other income<br>5|-<br>-<br>-<br>430,428|
|Total income|276,523<br>-<br>276,523<br>890,623|
|**Expenditure on:**||
|Raising funds<br>6|(58,246)<br>-<br>(58,246)<br>(62,820)|
|Charitable activities<br>7|(252,408)<br>-<br>(252,408)<br>(331,521)|
|Total expenditure|(310,654)<br>-<br>(310,654)<br>(394,341)|
|Gains/losses on investment<br>assets|129,705<br>-<br>129,705<br>789,151|
|Net income|95,574<br>-<br>95,574<br>1,285,433|
|Net movement in funds|95,574<br>-<br>95,574<br>1,285,433|
|**Reconciliation of funds**||
|Total funds brought forward|8,348,540<br>11,000<br>8,359,540<br>7,074,107|
|Total funds carried forward<br>21|8,444,114<br>11,000<br>8,455,114<br>8,359,540|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 21. 

The notes on pages 11 to 25 form an integral part of these financial statements. Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **(Registration number: 00081186) Balance Sheet as at 31 March 2025** 

|||||**2025**|**2024**|
|---|---|---|---|---|---|
||**Note**|**Unrestricted**|**Restricted**|£|£|
|**Fixed assets**||||||
|Tangible assets|15|1,255|-|1,255|537|
|Investments|16|8,042,621|-|8,042,621|7,880,067|
|||8,043,876|-|8,043,876|7,880,604|
|**Current assets**||||||
|Debtors|17|343,333|-|343,333|350,566|
|Cash at bank and in hand|18|67,301|11,000|78,301|139,118|
|||410,634|11,000|421,634|489,684|
|**Creditors: Amounts falling due**|**Creditors: Amounts falling due**|||||
|**within one year**|19|(10,396)|-|(10,396)|(10,748)|
|**Net current**assets||400,238|11,000|411,238|478,936|
|**Net**assets||8,444,114|11,000|8,455,114|8,359,540|
|**Funds of the charity:**||||||
|**Restricted income funds**||||||
|Restricted funds||||11,000|11,000|
|**Unrestricted income funds**||||||
|Unrestricted funds||||8,444,114|8,348,540|
|**Total funds**|21|||8,455,114|8,359,540|



The financial statements on pages 8 to 25 were approved by the trustees, and authorised for issue on 1st December 2025 and signed ont heir behalf by: 

......................................... C Searle Chair of Trustees 

The notes on pages 11 to 25 form an integral part of these financial statements. Page 24 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Statement of Cash Flows for the Year Ended 31 March 2025** 

|**Note**|**2025**<br>**2024**|
|---|---|
|||
|**Cash flows from operating activities**||
|Net cash income|95,574<br>1,285,433|
|**Adjustments to cash flows from non-cash items**||
|Depreciation<br>6|255<br>25,723|
|Investment income<br>4|(226,935)<br>(286,410)|
|Profit on disposal of tangible fixed assets|-<br>(430,428)|
|Revaluation of investments|(129,705)<br>(789,151)|
||(260,811)<br>(194,833)|
|**Working capital adjustments**||
|Decrease/(increase) in debtors<br>17|7,233<br>(213,634)|
|Decrease in creditors<br>19|(352)<br>(29,244)|
|Net cash flows from operatingactivities|(253,930)<br>(437,711)|
|**Cash flows from investing activities**||
|Interest receivable and similar income<br>4|226,935<br>286,410|
|Purchase of tangible fixed assets<br>15|(973)<br>-|
|Sale of tangible fixed assets|-<br>1,230,000|
|Purchase of investments<br>16|(96,022)<br>(1,146,080)|
|Sale of investments|63,173<br>-|
|Net cash flows from investingactivities|193,113<br>370,330|
|Net decrease in cash and cash equivalents|(60,817)<br>(67,381)|
|Cash and cash equivalents at 1 April|139,118<br>206,499|
|Cash and cash equivalents at 31 March|78,301<br>139,118|



All of the cash flows are derived from continuing operations during the above two periods. 

The notes on pages 11 to 25 form an integral part of these financial statements. Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **1 Charity status** 

The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 

The address of its registered office is: 10 Bridge Street Christchurch Dorset BH23 1EF 

Authorised for issue date 

## **2 Accounting policies** 

## **Summary of significant accounting policies and key accounting estimates** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## **Statement of compliance** 

The financial statements have been prepared 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## **Basis of preparation** 

Shaftesbury Homes & Arethusa 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 notes. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

Page 26 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **2 Accounting policies (continued)** 

## **Income and endowments** 

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 

The Charity receives government and other body grants in respect of furthering its charitable objectives. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. 

## _**Donations and legacies**_ 

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. 

Legacies are reviewed on a case-by-case basis. Legacies are credited to the Statement of Financial Activity when the trustees are satisfied that the Charity is entitled to the monies, eventual receipt is more probable than not, and that the amount can be reliably measured. On occasion legacies will be notified to the Charity where it is not possible to measure reliably the amount expected to be distributed. On these occasions, the legacy is disclosed as a contingent asset and not included in the accounts. 

Where items are gifted to the charity, these items are only recognised as income in the financial statements only when the charity will derive significant future economic benefit to the charity. Where recognition is required, gifted items are recognised at fair value. 

## _**Investment income**_ 

Investment income is earned through holding of assets for investment purposes such as shares and securities. It includes dividends and interest. Interest income is recognised using the effective interest method and dividend income is recognised as the Charity's right to receive payment is established. 

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 the Bank. 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **2 Accounting policies (continued)** 

## **Expenditure** 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff Other support costs are allocated based on the spread of staff costs. 

Support costs have been allocated to each activity based on staff numbers employed in that activity (or on staff time spent on that activity). Governance costs are included within support costs and relate to the management of the charity's assets, organisational administration and compliance with constitutional and statutory requirements. 

Expenditure on raising funds comprises costs incurred in encouraging people and organisations to support financially the charity's work. These include the costs of advertising, publicity and of the staging of fund-raising events. 

Payments in relation to the termination of employment are recognised when the relevant decision-making process has been completed and communicated to all affected parties. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

Expenditure is recognised inclusive of irrecoverable VAT. 

## **Taxation** 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **Tangible fixed assets** 

depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

**Asset class Depreciation method and rate** Office equipment 5 years straight line 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **2 Accounting policies (continued)** 

Fixtures and fittings 5 years straight line 

## **Fixed asset investments** 

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. 

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. 

## **Debtors** 

Trade and other debtors (including any accrued income) are financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. 

## **Donated assets held for immediate resale** 

The charity occasionally receives assets from legacies. Where these assets are not intended for long term use in the charity and are planned to be sold as soon as possible, the assets are included in the accounts at fair value and included within current assets. 

## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## **Trade creditors** 

Trade creditors, accruals and other creditors are classified as financial instruments. Amounts due for taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument. 

## **Fund structure** 

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **2 Accounting policies (continued)** 

## **Pensions and other post retirement obligations** 

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. 

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 

## **3 Income from donations and legacies** 

|**3**<br>**Income from donations and legacies**||
|---|---|
||**Total**<br>**Total**|
||**2025**<br>**2024**|
|||
|Donations and legacies;||
|Donations from individuals|6,186<br>4,591|
|Legacies|43,401<br>169,194|
||49,587<br>173,785|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

|**4**<br>**Investment income**||
|---|---|
||**Total**<br>**Total**|
||**2025**<br>**2024**|
|||
|Interest receivable and similar income;||
|Interest receivable on bank deposits|339<br>4,905|
|Other income from fixed asset investments|226,597<br>281,505|
||226,936<br>286,410|
|**5**<br>**Other income**||
||**Total**<br>**Total**|
||**2025**<br>**2024**|
|||
|Gains on sale of tangible fixed assets for charity's own use|-<br>430,428|
|**6**<br>**Expenditure on raising funds**||
|**a)**<br>**Investment management costs**||
||**Total**<br>**Total**|
||**2025**<br>**2024**|
|||
|Other investment management costs;||
|Amountspayable to investment managers|58,058<br>62,820|
||58,058<br>62,820|
|**b)**<br>**Other costs of generating donations and legacies**||
||**Total**<br>**Total**|
||**2025**<br>**2024**|
|||
|Other direct costs|188<br>-|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **7 Expenditure on charitable activities** 

|**7**<br>**Expenditure on charitable activities**||
|---|---|
||**Total**<br>**Total**|
|**Note**|**2025**<br>**2024**|
|||
|Charitable activity|23,432<br>113,274|
|Depreciation, amortisation and other similar costs|255<br>25,723|
|Grant funding of activities<br>9|185,697<br>151,497|
|Staff costs|28,704<br>28,704|
|Allocated support costs<br>8|5,263<br>5,078|
|Governance costs<br>8|9,057<br>7,245|
||252,408<br>331,521|



- 

which relate directly to charitable activities. See note 8 for further details. 

## **8 Analysis of governance and support costs** 

**Support costs allocated to charitable activities** 

|**Support costs allocated to charitable**|**activities**|**activities**|
|---|---|---|
||**Governance costs**<br>**Finance costs**<br>**Administration**<br>**costs**<br>**Total**<br>**2025**||
||||
|Grant making|9,057<br>3,383<br>1,772<br>14,212||
||||
|||**Governance costs**<br>**Finance costs**<br>**Total**<br>**2024**|
||||
|Grant making||7,245<br>5,078<br>12,323|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **8 Analysis of governance and support costs (continued)** 


## **Governance costs** 

|**Governance costs**|||
|---|---|---|
||**Total**|**Total**|
||**2025**|**2024**|
||||
|Audit fees|||
|Audit of the financial statements|6,300|6,000|
|Other fees paid to auditors|2,400|-|
|Othergovernance costs|357|1,245|
||9,057|7,245|




## **9  Grant-making** 

## **Analysis of grants** 

The support costs associated with grant- 

Below are details of material grants made to institutions 

||**2025**||**2024**|
|---|---|---|---|
|**Name of institution**||||
|SCULPT||-|6,995|
|Play for Progress||-|8,000|
|MTV Youth Hampton||-|10,000|
|Frenford Youth Club||-|10,000|
|FairBeat Music||-|9,651|
|Our Time||-|10,000|
|Chain Reaction||-|9,991|
|Boiler House Community Spaces||-|8,532|
|Thames Life Community Development||||
|Trust||-|9,999|
|Salaam Peace||-|5,812|
|Breadwinners||-|9,910|
|Sunah's Crisis Team||-|7,696|
|Laburnum Boat Club||-|8,571|
|CARAS||-|10,000|
|Voyage||-|8,000|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

|**9**<br>**Grant-making (continued)**||
|---|---|
|Young Urban Arts Foundation|8,498<br>8,340|
|Success Club CIO|10,000<br>10,000|
|Ben Kisella Trust|9,735<br>-|
|Hope in Haringey|9,965<br>-|
|Free to be Kids|9,446<br>-|
|Eat Club|9,978<br>-|
|Coney|10,000<br>-|
|Acheinu Limited|3,800<br>-|
|The RecShop CIC|8,000<br>-|
|Shadwell Community Project|9,967<br>-|
|Barnados|500<br>-|
|Young Ealing Foundation|10,000<br>-|
|Champions 4 Change|9,880<br>-|
|Inner City Films|5,000<br>-|
|Nova New Opportunities|6,235<br>-|
|Step Out Mentoring|6,000<br>-|
|Human Rights Solidarity|9,993<br>-|
|South London Counselling and Support<br>Services|10,000<br>-|
|Bounce Legacy CIC|10,000<br>-|
|Survivors Can Shine CIC|10,000<br>-|
|In Your Corner Emotional Wellbeing<br>Limited|10,000<br>-|
|London DJMC Academy|8,700<br>-|
||185,697<br>151,497|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **10 Net incoming/outgoing resources** 

Net (outgoing)/incoming resources for the year include: 

|**10**<br>**Net incoming/outgoing resources**<br>Net (outgoing)/incoming resources for the year include:||||
|---|---|---|---|
||**2025**|**2024**||
|||||
|Audit fees|6,300||6,000|
|Depreciation of fixed assets|255||25,723|
|Gains on sale of tangible fixed assets for charity's own use|-<br>(430,428)|||



## **11 Trustees remuneration and expenses** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. 

## **Trustees' expenses** 

There were no trustees' expense claims paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 

## **12 Staff costs** 

The aggregate payroll costs were as follows: 

|**12**<br>**Staff costs**<br>The aggregate payroll costs were as follows:||
|---|---|
||**2025**<br>**2024**|
|||
|**Staff costs during the year were:**||
|Wages and salaries|27,600<br>27,600|
|Pension costs|1,104<br>1,104|
||28,704<br>28,704|



Johanna Tompsett is classed as key management due to being the only employee of the charity. 

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows: 

||**2025**<br>**2024**|
|---|---|
||**No**<br>**No**|
|Head count|1<br>1|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **12 Staff costs (continued)** 

## **13 Taxation** 

Shaftesbury Homes & Arethusa is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. 

## **14 Comparatives for the statement of financial activities** 

|**Note**|**Unrestricted**<br>**funds**<br>**Restricted funds**<br>**Total**<br>**2024**|
|---|---|
|||
|**Income and Endowments from:**||
|Donations and legacies<br>3|173,785<br>-<br>173,785|
|Investment income<br>4|286,410<br>-<br>286,410|
|Other income<br>5|430,428<br>-<br>430,428|
|Total income|890,623<br>-<br>890,623|
|**Expenditure on:**||
|Raising funds<br>6|(62,820)<br>-<br>(62,820)|
|Charitable activities<br>7|(331,521)<br>-<br>(331,521)|
|Total expenditure|(394,341)<br>-<br>(394,341)|
|Gains/losses on investment assets|789,151<br>-<br>789,151|
|Net income|1,285,433<br>-<br>1,285,433|
|Net movement in funds|1,285,433<br>-<br>1,285,433|
|**Reconciliation of funds**||
|Total funds brought forward|7,063,107<br>11,000<br>7,074,107|
|Total funds carried forward<br>21|8,348,540<br>11,000<br>8,359,540|



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## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

|**15**<br>**Tangible fixed assets**||
|---|---|
||**Furniture and**<br>**equipment**<br>**Total**|
|**Cost**||
|At 1 April 2024|1,194<br>1,194|
|Additions|973<br>973|
|At 31 March 2025|2,167<br>2,167|
|**Depreciation**||
|At 1 April 2024|657<br>657|
|Charge for the year|255<br>255|
|At 31 March 2025|912<br>912|
|**Net book value**||
|At 31 March 2025|1,255<br>1,255|
|At 31 March 2024|537<br>537|
|**16**<br>**Fixed asset investments**||
||**2025**<br>**2024**|
|||
|Other investments|8,042,621<br>7,880,067|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **16 Fixed asset investments (continued)** 

## **Other investments** 

|**Other investments**||
|---|---|
||**Listed**<br>**investments**<br>**Total**|
|||
|**Cost or Valuation**||
|At 1 April 2024|7,880,067<br>7,880,067|
|Additions|96,022<br>96,022|
|Disposals|(63,173)<br>(63,173)|
|Revaluation|129,705<br>129,705|
|At 31 March 2025|8,042,621<br>8,042,621|
|**Net book value**||
|At 31 March 2025|8,042,621<br>8,042,621|
|At 31 March 2024|7,880,067<br>7,880,067|



valuation of funds held within the investment portfolio including these balances and the market value of listed 

## **17 Debtors** 

|**17**<br>**Debtors**|||
|---|---|---|
||**2025**|**2024**|
||||
|Prepayments and accrued income|293,333|344,586|
|Other debtors|-|5,980|
|Assets held for immediate resale|50,000|-|
||343,333|350,566|



**18 Cash and cash equivalents** 

||**2025**<br>**2024**|
|---|---|
|||
|Cash at bank|78,301<br>139,118|



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## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **19 Creditors: amounts falling due within one year** 

|**19**<br>**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2025**|**2024**|
||||
|Trade creditors|1,070|1,891|
|Other taxation and social security|274|375|
|Other creditors|166|166|
|Accruals|8,886|8,316|
||10,396<br>10,748||



## **20 Pension and other schemes** 

## **Defined contribution pension scheme** 

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents - 

## **21 Funds** 

||**Balance at 1**<br>**Incoming**<br>**Resources**<br>**Other**<br>**recognised**<br>**Balance at 31**|
|---|---|
||**April 2024**<br>**resources**<br>**expended**<br>**gains/(losses)**<br>**March 2025**|
|||
|**Unrestricted funds**||
|**_General_**||
|General Funds|8,348,540<br>276,523<br>(308,254)<br>129,705<br>8,446,514|
|**Restricted funds**||
|Aim High|11,000<br>-<br>-<br>-<br>11,000|
|**Total funds**|8,359,540<br>276,523<br>(308,254)<br>129,705<br>8,457,514|



Page 



## **Shaftesbury Homes & Arethusa** 

## **known as SYP Trust** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)** 

## **21 Funds (continued)** 

||**Balance at 1**<br>**Incoming**<br>**Resources**<br>**Other**<br>**recognised**<br>**Balance at 31**|
|---|---|
||**April 2023**<br>**resources**<br>**expended**<br>**gains/(losses)**<br>**March 2024**|
|||
|**Unrestricted funds**||
|**_General_**||
|General Funds|7,063,107<br>890,623<br>(394,341)<br>789,151<br>8,348,540|
|**Restricted funds**||
|Aim High|11,000<br>-<br>-<br>-<br>11,000|
|**Total funds**|7,074,107<br>890,623<br>(394,341)<br>789,151<br>8,359,540|



The specific purposes for which the funds are to be applied are as follows: 

Aim High - Restricted for disability assistance. 

## **22 Analysis of net funds** 

|**22**<br>**Analysis of net funds**||||
|---|---|---|---|
|||**Financing cash**||
||**At 1 April 2024**|**flows**|**At 31 March 2025**|
|||||
|Cash at bank and in hand|139,118|(60,817)|78,301|
|Net debt|139,118|(60,817)|78,301|
|||**Financing cash**||
||**At 1 April 2023**|**flows**|**At 31 March 2024**|
|||||
|Cash at bank and in hand|206,499|(67,381)|139,118|
|Net debt|206,499|(67,381)|139,118|



## **23 Related party transactions** 

## **24 Liability for Members** 

The charity is constituted as a company limited by guarantee. In the event of the charity being wound up 

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