THESHUTTLEWOOD CLARKE FOUNDA TION FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charlty No.. 803525
THE SHurrLEWOOD CLARKE FOUNDATION LEGAL AND ADMINISTRA TIVE DEfAILS CONSTITUTION The Shuttlewood Clarke Foundation is a Charit'able Settlement governed by a Trust Deed dated 15 May 1990 and is registered under the Charities Act 1993, Charity Registration Number 803525. ADDRESS Ulverscroft Grange Ulverscroft MARKFIELD Leicestershi re LE67 9QB TRUSTEES B Martin {Chair of Trustees) - appointed as a Trustee March 2023 A May - appointed as a Trustee September 2012 A Rockey- appointed as a Truslee October 2024 M Booth {holder of property)- resigned October 2025 M Freckelton (holder of property) - resigned October 2024 PRINCIPAL MANAGER F Wilkinson PRINCIPAL BANKERS Barclays Bank PLC 2 Bishop Meadow Road LOUGHBOROUGH Leicestershi re LEII ORB SOLICITORS Moss, Solicitors 80-81 Wood Gate LOUGHBOROUGH Leicestershi re LEII 2XE AUDITORS Turner & Smith Westgate House Royland Road LOUGHBOROUGH Leicestershi re LEII 2EH INVESTMENT ADVISERS W H Ireland Quay House 7 The Quay POOLE B1415 IHA
Shuttlewood Clarke Foundation TRUSTEES, REPORT FOR THE YEAR ENDED 31" March 2025 Structure Governance and Mana ement Reference and administrative information can be found on the preceding page. The Shuttlewood Clarke Foundation was founded in 1989 by Mr David Clarke, and its Trust Deed was signed on 15 May 1990. On the 31 March 2025 the Foundation had four trustees. The Foundation has the provision to extend the number of trustees to a maximum of eight. The trustees seek to recruit individuals who have an interest in the work of the Foundation and skill sets to enhance the current team. Recruitment has been for the most part been from existing volunteers, though the intention is look wider. Potential trustees are given a comprehensive insight into all of the Fou ndation's activities- attention is drawn to appropriate information on the Charity Commission website with a recommendation that it is read and understood. Of the board members at 31 March. three were also volunteers in a variety of capacities. The trustees meet and/or confer regularly when they review the activities, investments and policies of the Foundation. The day to day running and management of the Foundation is delegated to the Principal Manager and the senior management team; theie is ongoing contact with the trustees. Remuneration for new key personnel is determined by the trustees,. all salaries at the review date are determined by the trustees having regard to proposals submitted by the Principal Manager. The senior management team at 31 March was made up of the Principal Manager and Support Services Manager. The Foundation owns the single issued share in Shuttlewood Clarke Trading Ltd. This company provides catering within the Grange premises. Two of the trustees were directors at March 31, being M. Booth and A. May. Risk Mana ement Insurance and Safe uardin The trustees acknowledge their responsibility for risk management. Risk assessment documents are in place intended to cover all of the Foundation's areas of risk, these having been compiled following discussion with relevant personnel. These are reviewed annually or thereabouts. Reporting procedures are also in place. Comprehensive insurance cover is maintained- an annual meeting takes place with the Foundation's insurance broker to review al I policies. The Foundation carries insurance cover that includes an indemnity policy covering the liability of the trustees to th ird parties. The trustees are satisfied that major risks have been identified and managed appropriately.
The Foundation follows the Charity Commission guidelines for safeguarding. All personnel (staff, volunteers and Service providers) are required to undergo training,. occasional service providers are supervised by persons who themselves have been trained. Alms Ob'ectlves and Actlvities The core objectives of the Foundation as stated in the trust deed dated 15 May 1990 are.. Thefunds are to be oppliedfor such charitable purposes as the trustees shallfrom time to time determine (and in particulor but without derogation to the generality of the foregoing the relief of need, hardship suffering or distress in the case of elderly and young persons). The provision and delivery of the activities that achieve these aims are considered on a regular basis. The Foundation colltinued to refer to the guidance contained in the Charity Commission's general guidance on public benefit when reviewlng Its aims a nd objectives and in planning its f uture activities. How our actlvities deliver ubllc beneflt The purpose of the wide range of activities provided is to enhance the lives of our beneficiaries through improved social interaction, recreation, advice, support and educational opport'unities, The Foundation's main activities, beneficiarie5 and aims are set out below. Achievements and Performance Ulverscroft Grange Communlty Support ond Wellbelng Centre Open to the public at large, visitor numbers to the Grange Community Support and Wellbeing Centre were estimated to be in excess of 31,000, variously using the tea rooms, browsing the charity shops, accessing the information hub, attending organised wellbeing and support sessions, visiting the model railway and using the pathways. Wellbeing Activities The objectives of The Community Support and Wellbeing Centre are to provide a meeting place where both mental and physical wellbeing can be improved through social interaction, recreation, access to information and support including activities {more information is given in subsequent paragraphs). There is a network of paths extending to the Manor. This wonderful, unique environment provides repeated opportunities for people of all ages to benefit in numerous ways. Many visitors have made repeat visits and have used the introduction afforded by the Grange to benefit from the Foundation's numerou5 Other charitable services. The property is registered under Leicestershire County Council's "Keep Safe Place" scheme. Outcomes are assessed by having regard to visitor numbers and feedback,. the trustees are satisfied with the results. Grow wlth us Community Allotment The 'Grow with Us, gardening project links young people and adults with learning difficulties and/or physical disabilities with members of the wider community who have an interest in allotment style gardening,- it operates throughout the year. Four organisations have taken part in the scheme during the year, fewer than in the previous year, a disappointing outcome.
Shops and caterlng Opportunities afft provided to those with learning difficulties to assist in the charity shops and tea room, Model Railway The railway was inherited by the Foundation from it5 founder. It is rnaintained by a group of volunteer enthusiasts. The model has educational and therapeutic value. Organised groups are able to visit on a monthly basis when the ra ilway is operated to its fullest extent and a tallc given. Visitors are also able to see the railway on two days per week during normal opening times when there May be limited operation depending on volunteer availability. Ulverscroft Manor There are two principal venues for indoor activities, the maln house and the Activity Centre. Vlsiting Groups The objectives are to provide a pleasant day out, reduce social isolation, offer respite and give support to those who are living wi th a disability or illness or are elderly. A lunch is provided together with refreshments in the morning and afternoon. Those who are able can walk the grounds or have a trip in the golf buggy. Visiting groups are comprised of individuals brought together from the sarne area, with the partner or carer on a car day visit, or as a member of an organised support group, residential home or association. The number of people attending these pre-booked session5, Monday- Wednesday was 2,218, an average of 18 per day. Attendees are invited to make a donation, Volunteers are essential for the carryi ng out of th is activity, providi ng assistance in the kitchen, serving meals, clea ring away and interacting social IV with the visitors. Outcomes are assessed by havi ng regard to take u p, repeat visits and feedback; the trustees are satisfied with the results. Information and Support Stand Through the information exchange project the Foundation seeks to establish good links with many other disability support groups. The importance of working with others or Simply acting as a signpost is recognised, Health and Wellbeing Support Thursdays Sessions provid ing various activities are available at varying intervals through each month. The objectives are to offer a facility which allows people to visit as they choose, access those activities which they find va lua ble and to stay for as long as they wish leading to social interaction. Refreshments are available throughout the day. Volunteers make a sign ificant contribution by assisting with the provision of refreshments. The following activities were available at varying intervals: seated yoga, relaxation, m indfu Iness {including by 'Zoom'l, pilates li ncluding by 'Zoom'l, bool( club (newly established), fun with art and sound bathing,. chiropody was also available. There have been the following support groups: lipoedema, young onset dementia, fibromyalgia and pulmonary fibrosis, the latter two having become independent during the year. Outcomes are assessed by having regard to the number of participants, conslstency of visits and feedback. the trustees are satisfied with the result5.
Other Actlvltles During the year other activities included- Nordic Walking, gentle nordic walking (new this yearl, outdoor exercise (ceased in yea r), and singing for fun and wel Ibeing, all taking place weekly; a craft club, a design and create group (ceased in the yearl, tai chi, gentle yoga, coplng with and recovering from anxiety and depression, bereavement support (new this yearl taking place at varying intervals. There was also a month ly mu Itiple sclerosis support grou p. Outcomes are assessed by having regard to the number of participants, consistency of visits and feedback,. the trustees are Satisfied with the results, Outside Space Yew Trail Outdoor Classroom The objectives of the outdoor classroorn are to teach about, and enthuse children with natural things in a dynamic environment,, to enable them to enjoy being outside. Activities are based on the National Cu rricu lu m. Volunteers are essential for the carrying out of this activity as they lead the groups of ch ildren and deliver the teaching,. occasional help is provided by staff members. The pool of volunteers remains small. All visits are reviewed; written feedback is routinely sought from the schools but rarely received. Verbal feedback has always been good. Eight schools visited during the year. Yurt This provides an unusual and attractive space for a variety of activities. There was a modest amount of use du ring the yea r for wellbeing and craft activities. Pathways The objectives of the pathways at both the Grange and the Manor are to enable visitors to enjoy the space and benefit from exercise. Those at the Manor have many information boards relating to the tree5 and folklore, and are an essential component for the school visits. The pathways at the Manor have for the most part been put in place by volunteers who also maintain them; they also maintain the Grange pathways. The Foundation's electric buggy provides a very beneficial service to the Foundation's less mobile visitors at both the Grange and Manor. Forest School An area of woodland has been made available to an independent Forest School business. This is considered to be a good way to enable children to benefit from outdoor attivity. SCF Development Volunteering Reference ha5 been made to the essential contribution made by volunteers in some of the preceding paragraphs, By the end of the year there were 134 volunteers in various roles that included in-house (including the Activity Centrel, gardening and maintenance tasks, working in the shops, leading school visits, bu y driving and assisting in the activity of the organisation's trading company, Shuttlewood Clarl(e Trading Ltd, Volu nteer opportunities include work experience for students, life ski Ils for adu Its with disabilitie5 and corporate team activities, The volunteer team contributed several thousand hours of voluntary work and its continued support is crucial to the success of the Foundation. In turn the Foundation i nvites volunteers to attend at least one social event each year; in addition, volu nteers benefit through friendships made and support received during their time with the organisation and beyond
through the provision of a retired volunteer club that meets once a month. Opportunities for life skills volunteering placements have continued. The recruitment of additional volunteers is an ongoing work. Fundraising The Foundation rufis three charity shops based at Ulverscroft Grange. There is an additional sales table based at Ulverscroft Manor, The gross income for the year was £120,126 (2024.. £103,337). The shops component, being the Foundation's principal fundraising activity was £117,242 (2024.. £99,451J. Operations were conducted by volunteers with oversight by a salaried manager and salaried assistant throughout the year. Sundry fund raising activities produced £2,41712024: £1,684). The income generated frorn the shops exceeded expectations, and has continued to grow in the year 2025-26. This is a vital source of income. Promotion The Foundation's Staff team has continued to promote the comprehensive worl( of the Foundation, Worklng with others The Foundation recognises the value of working with others and will continue to seek opportunities for doing so. Future Plans At the Grange, an efFort will be made to increase the numbers participating in the "Grow With Us" activity. At the Manor, the arrangements for visiting groups will continue as previously described. The Activity Centre provide5 an excellent space givlng the potential to introduce new services and develop the existing ones where appropriate. Financiul Review Unrestricted funds There was a deficit on the unrestricted funds of £199,116. Investment income and gains, or total return, are vital to the ability of the Foundation to operate. For the year under review the target return was 5.5Yo the actual return was 1.31%. This evaluates to £55,459, represented by realised gains £231,422, marl(et value decrease £308,364 and income received £132,401 (the market value adjustment is made on the Endowment Funds column of the Statement of Financial Activities). The portfolio has a market value of £4,241,77512024: £4,476,334). The greatest risk to the Foundation is a long term downturn in investment performance,. ultimately restructuring would be necessary. Performance is monitored monthly, comprehensive reports being provided by W.H Ireland Investment Managers. The Foundation's policy on reserves aims to maintain the value of the total fund in line with or above inflation and asthe economic situation allows, to further increase these funds in order to finance the development of the Foundation'5 work. The Foundation's two country houses and grounds remain an essentia I com ponent of future plans and current activities. It remains imperative that these properties, machinery and all internal and external fixtures and fittings are maintained to a high standard and comply with all relevant legislation to ensure the Foundation's long-terrn future. For this reason, long term growth of the total fund is necessary. The following ethical investment policy is operated..
All of the Foundotion's investments ore covered by its ethicol investment policy which 5tute5 that the Trustees seek to ovoid investment ffn undertakings whose octivitie5 t7re evidently (ygainst the public well- being or are such that investment in them Lvould be likely to lower the reputation of the Foundation with the public at large, The Trustees recognise thot some undertakings (e.g. banks and insurance componies) have t7 substantial spreod of investments, informution about which cannot be obtained. The Trustees will not refruin from rnvestlng in such undertakings simply because of a lack of knowledge of their investments. The other principal sources of funding were donations £43,361 12024: £69,068} and fundraising £122,543 12024: £105,021). The Shops component for the year to 31" March 2025 was £117,24212024.. £99,451). Restrlcted Funds The total received in the year was £3,45112024: £2,352), total spending was £4,86612024.. £12,402) (including transfers between funds). Additional information can be found at Note 3 of the Notes to the Financial Statements. Total Funds The analysis of total funds can be found at Note 12 of the Notes to the Financial Statements. Capital Comrnitments There were no capital commitments. (Note 141 Shuttlewood Clarke Trudlng Ltd As previously stated, thi5 wholly owned trading subsidiary provides catering services within the Grange property, for which a monthly access fee is paid to the Foundation. Any remaining profits are gifted to the st Foundation, There was a loss for the year ended 31 March 2025 of £15,969 {2024: £5,121}. Trading conditions within the catering industry have been difficult for some time. Attempts are being made to reduce and ideally eliminate losses by bearing down on labour costs in particular. Notwithstanding the losses, the Foundation benefits significantly from the company's existence. Names of trustee(s): BarryJohn Martin (Chair) Alan James Rockey Alan Peter May 25th October 2023 th 15 March 2024 3 September 2012 Signed on behalf of the Trustees: key Chair of Trustees 11 February 2026
THESHUrnEWOOD CLARKE FOUNDA TION STA TEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responsible for prepa ring the Trustees, Report and the flnancia I statements in accordance with applicable law and Unlted Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accou nting Practlcel. The law applicable to charities In England & Wa les requlres the Trustees to prepare flnancial statements for each financial year whlch give a true and falr view of the state of affairs of the charity and of the incoming resource5 and application of resources of the cha rity for that period. I n preparing these financial statements, the Trustees are required to: select Sultable accou nting policies and then apply them consistently; observe the methods and princlples in the Charities SORP 2019 IFRS 1021; makejudgements and estimates that are reasonable and prudent; state whether applicable accountlng standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financia I statements on the going concern basis u nless it 15 inappropriate to presume that the charity will continue in operation. The "frustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any tlrne the financial position of the charity and enable them to ensure that the financia I statements comply with the Charities Act 2011, the Charity {Accounts and Reportsl Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguard ing the assets of the charity and hence for tal<irig reasonable steps for the prevention and detection of fraud and other irregu larlties.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SHULEWOoD CLARKE FOUNDATION Opinion We have audited the financial statements of The 5huttlewood Clarke Foundation for the year ended 31 March 2025 which comprise of the Statement of Financial Attivities, Balance Sheet, Statement of Cash Flows and notes to the flnanaal statements, includinE significant accountlng policies. The financial reportlng frameworkthat has been applied in their preparation is applicable law and Unf(ed Kingdom Accounting Standards, Including Financial Reporting Standard 102 The Flnancial Reporting Standard applicable In the UK ond Republic of Irel(ynd Iunited Ilingdom Generally Accepted Accountlng Pratticel. In our opinion the financial statements,. 8ive a true and falr view of the state of the charitfs affairs as at 31 March 2025, and of its incomln8 roUrceS and application of resources, including its income and expenditure, for the yearthen ended; have been properly prepared in accordance with United Klngdom GeneralEy Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011, Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUK}l and applicable law. Our resFJonsibilities underthose standards are further descrlbed in the auditor responslbilities for the audit of the financial statements section of our report. We are Independent of the charty in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, includlng the FRUS Ethical Standard, and we have fulfilled our other ethical responsibillties in accordance with these requirements. We believe that the audit eviden we have obtained is suffScient and appropriate to provide a bass for our opinion: Conclusions relating to golng concern In auditingthe flnancSal statements, we have concluded that the trustees, use of the going concern basis of accountlng in the preparation of the f inancial stst@ments is appropriate. Based on the work we have perfonned, we have not identified any material UnrtaIntieS relating to events or conditions that, Indlvldually or collectively, may cast significant doubt on the charity's abilty to continue as a going concern for a period of at least tWee months from when the financial statements are authorised for issue, Our responsibilities and the responsibilities of the trustees with respect to going conrn are described in the relevant sections of this report. Other information The other information comprises the information induded in the trustees, report, other than the financial statements and ourauditorfs reportthereon, The trustees are responsibleforthe other Information. Our opinion onthe financial Statements doe5 not coverthe other informatlon and we do not express any fomi of assuran conclusion thereon. Our responsibilty ks to read the other information and, in doing 50, conslder whetherthe other information is materlally inconsistent with the financial statements or our knowledge obtained in the course of the audit or othenmise appears to be materially M[tated. If we identify such material inconsistencies or apparent material MStateMents, we are reqLJired to determinewhether this gives rise to a material misstatement in the financial statement5themselves. If, based on theworl< we have perfonned, we concludethatthere is a material msstatement of this Other information, we are required to report that fact. We have nothingto report in this regard.
INDEPENDENT AUDITOR'S REPORT Icont'dl TO THE TRUSTEES OF THE SHUThLEWOOD CLARKE FOUNDATION Matter5 on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulatlons 2CNJ8 require us to report to you if, in our opinion: the information given in the trustees, report Is Inconsistent in any material respett with the financial statements; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records. or we have not received all the information and exptanations we require for our audlt. Responslbllltles of trustees As explained more fijlly in the trustees, restsx)nsiblllties statement (set out on page 71, the trustees are responslble 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 r)ecessary to enable the preparation of finanrialstatements thdt are free from materlal misstatement, whetherdueto fraud orerror. In preparing the financial statements, the trustees are responsible for assessing the charivs ablllty to continue as a going concern, disclosin& as applicable, Matte related to going concern and using the going conrn 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 We have been appointed as auditor under section 144 of the Chartties Act 2011 and report in accordan with the Att and relevant reguSations made or havlng effect thereunder. Our objectives are to obtain reasonable SUranCe aboutwhetherthe financial statements as a whole are free from material misstatement, whetherdue to fraud orerror, and to issue an auditorfs reportthat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK} will alwa detect a material Mstatement when tt exists. Misstatements can a rise from fraud or error and are considered material if, individually or in the aggregate, they could reasonabty be expected to influence the economic decisions of users tal<en on the basis of these financial statements. Irre£ulartties, including fraud, are instances of non-compllance with laws and gulatIonS. We design procedures in line with our responsibillties. outlined above, to detect material misststements in respect of rregularlties, including fraud. The extent to which our procedures are capable of detecting irregularitles, including fraud is detailed below: Auditing the risk of management override of controls, including testing of journal entrles and other adjustments for appropriateness; Reviewing minutes of meetlngs of those charged wlth governance,. and Enquiries of management and those charged with governance to identify any instances of non- compliance with laws and regulations. Because of the inherent limitations of an audlt, there Is a rfskthat we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that Complian with a law or regulation is remaved from the events and transactions reflected in the financial statements, a5 we will be less likely to become aware of Instan of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fTrud involves intentional a)ncealment, forgery, collusion, omission or misrepresentation.
INDEPENDENT AUDITOR'S REPORT Icont'd} TO THE TRUSTEES OF THE SHULEWOoD CLARKE FOUNDATION A further description of our responsibilities is available on the FRC'S webstte at.. htt auditors audit-assurance audf(or-s-res nsibiltties-for-the-audtt-of-the- descri tion-of-the-audf(or%E2%80Y.99s-res nsibilities-for. This description forms part of our auditorfs report. We commuriicate with those charged wtth governance regardin& among othef matters, the planned scope and tirning of the audit and significant audit findings, induding any signrficant deficiencies in internal control that we identfy during our audtt. Use of our report This report is made Sole to the charivs trustees, as a boty, in accordance with Part 4 of the Chartties (Accounts and Reports) Regulations 28. Our audit work has been undertaken 50 that we might state to the charws trustees those matters we are required to state to them in an audttorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the charty and the charws trustees as a body, forouraudFt worl forthis report, orforthe opinions we have fomied. Tumer & Smith Statutory Auditor Westgate House Royland Road Loughborough Leicestershire LEII 2EH 11 February 2026 Turner & Smith 15 eligiblefor appointment as auditor of the chority by virtue of its eligibilityfvr appointment a5 auditor of a company under5ection 1212 of the Companies Art2LX)6. 10
THESHUrnEWOOD CLARKE FOUNDATION STA TEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH2025 Unrestrirted Funds Restricted Funds Endowment Funds Totol Funds 2024/25 TotolFunds 2023/24 Note INCOME FROM: Donatlons and lega¢les Donatlons received 43,361 3,451 46,812 71,420 Income from charitable a¢tivltles Charges for services 15,161 15,161 13,552 Other tradln8 actlvltles Fundraislng Hire of rooms Rent received SCT Access Fees 122,543 5,718 12,725 15,995 122,543 5,718 12,725 15,995 105,021 7,706 7,858 14,940 Investments Investment income SCT Administration Fees 132,401 2,858 132,401 2,858 135,345 2,350 Other Renewable heat incentive other Total income 14,553 15,629 380,944 14,553 15,629 384,395 18,021 12,645 388,858 3,451 EXPENDETURE ON: Raising f unds Fundraising Investment Management Fee5 40,007 38,061 40,007 38,061 23,574 28,451 Charitable activities Charitable activitie5 Governance Costs Rechargeable costs Costs re lettings Other Total expendlture 296,609 112,399 3,239 299,848 112,399 327,114 96,811 1,379 1,379 6,024 16,884 498,858 504,745 3,239 507,984 Net expendlture 1123,8011 212 1123,5891 Iiio,0001 Transfers between funds Net movement in funds after transfers Net galns/llossesl on Investme assets Net movem@nt In funds after galns and losses 1,627 1,627 1122,1741 231,422 11,4151 1123,5891 176,942 iiio,0001 313,487 1308,3641 Ig 109,248 11,4151 1308,3641 1200,5311 203,487 Total funds brought forward Totsl funds carried forward at 31 March 2024 26.699 12,615 6,734.706 6 774,020 6,570,533 12 13S 947 6 426 342 6 573 489 6 774 020 All income and expendlture derives from continuing activitie5. li
THE SHULEwOoD CLARKE FOUNDA TIOIV BALANCESHEET ASA T31 MARCH2025 2025 2024 Note FIXED ASSETS Tanglble f Ixed assets Investments 2,269,171 2,247,657 2,269,172 2,247,658 CURREfrrr ASSETS Stock Debtors nvestments Cash at bank 2nd In hand 5,041 89,710 4,241,775 20,236 4,356.762 7,713 59,464 4,476,334 17,489 4,561.000 io CURRENT LIABILITIES Creditors . amounts falling due within one year 11 52.445 34,638 NET CURRENT ASSETSILIABILITIES 4,304,317 4,526,362 NET ASSETS 6 573 489 6 774 020 CTrIARITY FUNDS Endowment funds Restrlcted funds Unrestrirted funds TOTAL CHARITY FUNDS 6,426.342 11,200 115,947 6 573 489 6,734,706 12,615 12 6 774 020 The financial statements on pages 11 to 19 were approved by the Trustees on 11 February 2026 and signed on their behalf bv.. A J Rockey Trustee Chair of Trustees 12
THESHU7TLEWOOD CLARKE FOUNDA TION srA TEMENT OFCASH FLOWS FOR THE YEAR ENDED 31 MARCH2025 Nots 2025 2024 CBshllow from oper8tln8 actlvltles 13 -208,599 -208,245 Cash flow Inv¢stlng act5vStles Dlvldends and Interest from Investments Investment management fees Pro¢eed5 ftom the sale ol property, plant and equlpment Purchase of propertyi plant and equlpment Reallsed galns Net Investment Ipurchasesll dIspol 132,401 -38,061 2,0(Xl -42.611 231,422 -73,805 211,346 135,345 -28,451 -10,325 4,606 99,337 200,512 Net IdecreaseWin¢rease In cash In the year 2,747 -7,733 Cash at l April 17,489 25,222 Cash at 31 March 13
THE5F1ulEwQOD CLARKE FOUNDA TION NOTES TO THE FINANCIAL STA TEMENTS FOR IFIE YEAR ENDED 31 MARCH 2025 l. Accountln Pollcles The 5ignifScant accountlng pollcles adopted In the prepatstion of the financial statements are set out below and have remalned unchanged from the prevlous year, ané also have been conslstently )PFJlied within the same flnanclal statements, al ofA¢¢ounting The charity constitutes a publlc benefit entity as defined by FRS 102. The financial ststements have been prepared In accordance wlth Accounting and Reporting by Charitles.. Staternent of Recommended Prattlce appllcable to charities preparlng their accounts in accordante with the Financial Reporting Standard applicable in the Ul< and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the Unlted Kingdorn and Rèpubllc of Irelznd IFRS 1021, and UK Generally Accepted Accounting Practice. The financial statements are prepared on a Éolng concern basls under thè hlstorlcal cost conventlon, wlth Ihe exception of investments whlch are Included at market value. The tharity has taken advantage under the SORP and not prepared consolidated group accounts. The flnanclal statements therefore refer to the parent undertsking onty. bl Dontstlons Income Oonations are brought into account as and when they are ceIve{l by the Foundation. Income sublect to VAT Is ststed net. cl Investment inrne 0ndntaI ffncome Bank interest Is Included in the income and èxpeNdittJre account on an accruals basis, Dividends are included in the income and expenditure account when they are received. dl Expendlture All expenditure on support costs an¢J administration 15 included on an accruals basis and Is allocated on 3 practlcal basis as the costs a incurred, Amounts are stated net of VAT. el Grants Grants Tnade by the Foundatior are charged to the income and expenditure account when the payment becomes due. n FiKedAs5ets Tangible fixed assets, being for the Charlty'5 own use, are ststsd aE Cost in accordance wlth provisions of the CharitSes Statemènt of Recommended Practice. No depreciation 15 provided on freehold property as any charge would be immaterlal. The property is malntalnèd to ensure thè valuè does not diMilsh over time and Maintenance c05t5 8re charged to the Income and expendlture account In the year Incurred, Depreciation has been provided to wrlte off thè cost of other tsngible IiKed assets over thèlr expetted useful lives using the followlng rates',- Assets Motor Vehicles 25% per 3Nnum straight line Fixtures, Fittings & Equipment 5%- 20% per annum stralght Ilne 14
THESHUThLEWOOD CL14RKE FOUIVDAfioN NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I, Accountln Policies con 81 Investments Investments are stated in the balance sheet at market value and thelr cost Is shown in the note5 the financial statements. Llsted investments are included in current a55et5 as due to their nature they are not held for the long-term. Unreallsed gains and losses are accounted for annually upon revaluation of investment5 and are shown in the statement of financial activities a5 endowment funds. This flgure represents the difference between the current and previous year's unreali5ed gain1loss figures for the Foundation's investment portfollo. Realised gains and losses are Included withln the unrestricted fund. hl FundAttountino Unre5trirted Funds these are funds which can be used in accordance with the Shuttlewood Clarke Foundation's charitable oblectlves at the discretion of the Trustee5. Restricted Funds - these are funds received for undert3king an attivity speclf led by the donor. Endowment Funds these are funds where the assets are held permanently by the Charlty in the form of investments and fixed assets. 11 Stock Stock represents consumable good5 purchased not yet utilised in the Charity's operations and is valued at cost. Il Grants Grants recelved relate to direct eypendlt'ure and Zre credited against the relevant revenue expenditure in the period the expenditure is incurred. kl Pension Contribution5 to the defined contribution personal pension pollcles of certain employees are char8ed against income as they become payable in accordance wlth the rules of the pension policies. 2. Income m Investments 2025 2024 Income from WH Ireland 132,401 132,401 135,345 135,345 3. Anal slso Resources Used 2025 2024 Charitable A¢tlvltles: Staff costs Property and service5 Costs Catering and vi51tors transport Property and services rosts Irestrictedl 131,099 147,791 17.719 3,239 299,848 133,779 163,838 19,339 10,158 327,114 15
TrIEsHuLEwo LARKE FO NDA TION NOTES TO fHE FINANCIAL sfAfEMENrs FOR THE YEAR ENDED 31 MARCH2025 Resources Us con 2025 2024 Governance Costs.. Admlnlstration staff costs Qffi¢e and prernlses costs Insurantes Professional fees 58,294 7,093 31,864 15,148 112 399 55,221 8,8 25,438 7,894 4. Income Less Ex endlture Net resou<ces expeniled a shown after charging the followln8',- 2025 Depreciatlon of Ilxed assets Iprofitl/Loss on dlsposal of flxed assets Staff Costs Auditors Remuneration 21,097 12.0001 224,794 s,0 21,803 207,245 s,1 709 Audit - Other Servlces Pension Policies Amount outstandinB to the pension policies of certain employees at 31 March 2025 wa5 £NIL12024 £NILI. 5. Sta costs (Jnd effl lo ee bene ts The average number of employees throughout the period wa5:_ 225 2024 Charitable activities Administration and fundraising LO 14 14 17 Their total remuneration was'.- 2025 2024 Wages and Salaries Social Security Defined Contribution Pension Costs 212,887 8,591 3,316 2ZI 79 197.238 7,0 2,978 No employees received totsl employee benefits lexcluding ernployer pen5i0n c05ts1 of more than £60,OLN). In thls year or the prevlous year. The total amount of employee benefits received by key management personnel is £5765512024.. £546301 The Trust considers its key management personnel to be Fiona Wilkinson and Kathleen Wass, 16
THE SHUTfLEWOOD LARKE FO NDA TION NOTES TO THE FINANaAL STA TEMEAITS FOR THE YEAR ENDED 31 MARCH 2025 6. Trustees The trustees neither received nor walved any remuneration durlng the year12024,. £N ILI. The trustees were reimbursed expenses of £2,286 during the year12024- £NILI. No fees were paid to the firms of Trustees for goocls or services. 7, Tun ible FIKedAssets (Allfor the Churlty's use) Flxtures Motor Fitting5 & Vehlcles Equipment Freehold Property Gronge Mttnor Other Tottyl COST At l April 2024 Additions 62,263 430,645 42,611 935,342 694,040 460,853 2,583,143 42,611 0,853 2,625,754 6,150 62, Disposals At 31 March 2025 6,150 62,263 2,61 DÉPRECIATION At l Aprll 2024 Charge for perlod 62,263 273,223 21.097 335,486 21,097 Disposals At 31 March 2025 6,150 288,170 6,150 350,43 62,263 NEf BOOKVALUE At 31 March 2025 178,936 935,342 694,040 460,853 2.269,171 At l April 2024 157,422 935,342 694,040 460,853 2,247,657 Freehold Property 'Other' includes at cost £56,000 for Dunster Road and £404,853 for the Education Cen'lre. 8. FixedA55ets Investments The charity owns the whole of the issued ordinary share capital of Shuttlewood Clarke Trading Limited, a company registeretl in England (No. 078598231. The subsidiary is used for non-primary purpose trading activities. The company's lo for the year ended 31 March 2025 w85 £15,969 and the c3Pital and reserves at the balance sheet date amounted to a deficit of £77,335, 9. Debtois 2025 2024 Trade debtors Amount owpd b¥ group undertaklng Prepayments and accrued Income VAT 14,353 58,773 10,835 5,749 89,710 5.741 36,851 13,527 3,345 59,464 17
THE SHUTllEWOOD CLARKE FOUNDA TION NOTES TO THE FINANCIAL STA TEMENT5 FOR THE YEAR ENDED 31 MARCH 2025 10. CurrentAssets Investments %of Total Investment cost 2025 2024 Market Value Market Value Cost Cost W H Ireland Bank 0.50A 21,185 21,185 21,185 21,185 26,112 26,112 26,112 26,112 Large Investments AnElo American Astra Zeneca Bayer AG Black RoGk Continentsl European CF Miton US Opportunlties Fund Diageo FindlayPark First Trust H icl Infrastructure Ibstock Johnson Matthev Ml Chelveton Lloyds Banl<ing Group Montanaro UK Income Fund North American Inc. Renewable Infrastruc. Trust Guern. Royal London Global Equity Sarasin Global H igher Dividend Fund VT Gravis UK Infrastructure 2.4% 2.8% 2.7% 4.1% 3.6% 2.5% 2.6% 4.3% 3.6% 2.1% 2.6% 2.8% 0.0% 0,0% 2.4% 2.6% 2.5% 0.0% 0.0% 95236 113805 110,562 164,530 143,987 102,281 105,467 171,354 145,120 86,482 104,766 112,443 71514 175675 27,316 182,048 155.275 74,536 177,3¢ 157,546 112,016 73,3 70,361 108,165 100835 112137 110,562 109,050 143,827 68899 192204 36,009 122,584 164,151 107,240 184,885 125,066 102,252 99,418 106,143 75,350 70,361 173,673 136,850 139,592 103,520 128,820 157,619 97,213 105,745 101,718 119,849 80,175 154,116 135,546 156,785 106,038 203,463 187,692 89,344 Other Investments UK Overseas 33.9% 1,366,463 1,404,977 1,278,364 1,446.822 21,9% 882,547 1,076,421 793,752 1,112,356 4,009,719 4,220,590 3,930,987 4,450,222 TOTAL 4 030 904 4 241775 3 957 099 4,476 334 Overseas Investments Includes unitised funds Investlng in overseas securlties. 2025 2024 Listed investments Cash equivalents on deposit 4,220,590 21,185 4,450,222 26,112 4,241,775 4,476,334 The fair value of listed investments is determined by reference to the quoted price for identical asset5 in an active market at the balance sheet date. 18
THE SHUTllEWOOD CLARKE UNDA710N NOTES TO THE FINANaAL STAfEMENrs FOR 7HE YEAR ENDED 31 MAR 2025 11. Creditots.. amo Ilin due within one 2025 2024 Trade creditors Trustee Loan . M Booth Accruals and deferred income 10,840 6,000 35.605 6,196 28,442 On 14 Mar 2025, NA Booth (Trusteel made a loan of £6,000 to the Foundation for cash-flow purposes. This w8S subsequently repaid to M Booth in 3 instalments as follows.. £1,000 on 07 Aug 2025, £1,000 on 05 Sep 2025 and £4,000 on 03 Oct 2025. 12. Anal net ossets between Endowment Uhrestri¢ted Restrlrted Funds Funds 2025 2024 Flxed setS Investments Net Current Assets TOTAL METsErs 2,269,171 4,157,171 2,269,171 4,241,776 62,542 6 573 489 2,247,657 4,476,335 50,028 6 774 020 84,605 51,342 135 947 11,200 6 426 342 Unre5tricled funds includes a designated fund to be used lor the maintenance and development of therapeutlc and Èducatlonsl work, and the refijrbishment of a marquee. The balance avallable at the year end was £3,40S. The restricted fund balance of £11,200 comprises £7,183 for the Changing Landscape5 scheme, £1.333 for support services and £2,684 for a gazebo. 13. Reconclllation o net income ex enditure to net cash ow emtin t)rtivitse5 2025 2024 Net income I lexpendlturel for year I pèrlod -2m,531 203,487 Interest and dividends received Investment Management fees Depreclatlon and impairment of tansible fixed assets (Gainsl / loss on investments (Profitl / loss on disposal ol tangible flxed assets Ilncreasel / decrease In Stock Ilncreasel / decrease in debtors Increase I Idecreasel in creditor5 -132.401 38.061 21.097 76,942 -2,OLK) 2.672 -30,246 17,807 -135.345 28,451 21,803 -313,487 .192 2,537 -15.499 Net cash flow from operating artivities -208 599 -208 245 14. Commitment5 Cttpitol Contracts placed but not executed by 31 March 2025 totslled £NIL12024'. £NILI. lftvestments Contracts placed but not provided for by 31 March 2025 totalled £NIL12024.- £NILI. 19