STANLEYGROUP FOUNDATION Stanl&y Group Foundatlon Trusteas. Annual Report and Flnanclal SLthm8nts For the year ended May 312024
Reference and Administrative Information:
Registered Office of the Board of Trustees
Scottish Charity Number SC050853
For the year ended 31 May 2024
The trustees have the pleasure in presenting their report together with the financial statements for the year ended 31 May 2024.
C harity Trustees
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Objectives and activities
Stanley Group Foundation (the "Foundation") initially plans to financially support third party charities and recognised philanthropic organisations already operating projects in the geographies where Stanley Group Consulting (the "Group") operate – namely, though not necessarily restricted to, Africa/Central Asia and the Far East. Our area of interest is that of the implementation of renewable energy sources to improve living conditions, educational needs and/or reduce the reliance on fossil fuels. Initially, the Group will donate funds into the Foundation to allow it to financially and independently support third party charities. On the medium term the Foundation will fundraise and implement programmes on its own account, delivering greater levels of finance and material relief from disparate sources to support partner organisations and beneficiaries. Recent contributions from the Group include to charities running projects in Sri Lanka and Nepal to reduce the reliance on kerosene for cooking and lighting and implementing solar power, batteries and led lighting to reduce health and safety impacts, quality of night time illumination to support education and family life, and reduce fossil fuel consumption.
Primary funding through Stanley Group will allow the Foundation to operate, provide financial support for projects within the recipient jurisdictions and subject matters that the Foundation has defined as its Charitable Purposes. The Foundation will build links with third parties and establish itself as an independent benefactor of Change for Good. With experience and successful projects in its portfolio, the Foundation can build on its ability to raise funds and implement projects, starting small, to develop that capability beyond that which is viable from the funding provided solely by the Group. The Foundation will also develop experience and knowledge of which projects are most viable and where best value can be derived from investments given. This organic approach to growth will allow the Foundation to grow exponentially, leveraging experience gained and delivering maximum value.
Structure, Governance and Management
Constitution
The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered in its current legal form on 22 March 2021. The charity was previously an unincorporated association but changed its legal form to a SCIO.
It has a single-tier structure and as such the trustees are the members of the charity.
Trustee recruitment and appointment
Trustees are elected at the annual general meeting which is held in September. There must be a minimum of three and a maximum of eight trustees.
Achievements and performance
In the preceding year, the Foundation focussed its work primarily on volunteer-based efforts for a number of charities throughout the U.K. and South Asia. Most notable during this period was the Foundation’s selection of NaariSamata as its principal charitable cause.
Financial review
Our main source of funding is philanthropic donations garnered through fundraising events and through a commitment by the Stanley Group of a fixed per cent of annual turnover, granted to the Foundation to further the Foundation’s aims on an independent and unrestricted basis. Primary funding toward the Foundation was voted in the company’s Annual Meeting in 2023 and is currently being provisioned within the Group’s 2024 financial year.
Statement of the charity’s policy on reserves
The trustees’ policy is to retain a minimum of 3 months' worth of normal running costs in order to meet commitments and to cover any unexpected expenditure. The Trustees believe that this is still an acceptable range of funding, given the negligible costs to administer the Foundation, but will continue to monitor the position.
Details of Deficit
The Foundation does not carry any deficit in accruals nor in accounts coming due within the coming 12 months.
Future plans
- The Foundation intends to continue developing its service and anticipates comparatively significant grant awards to be issued in the 2024/2025 year. The Foundation’s relationship with NaariSamata is anticipated to expand, and the Foundation plans to commit to the sponsorship of 3-5 students in India for tuition, clothing and book fees through the NaariSamata charity.
Statement of Receipts and Payments for the year ended 31 May 2024
Notes to the accounts - for the year ended 31 May 2024
1. Basis of accounting
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)
2. Nature and purpose of funds
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the Foundation. The trustees maintain a single unrestricted fund for the day-to-day running of the Foundation.
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Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes.
During the year the charity did not receive donations towards their commitment to the NaariSamata appeal.
3. Related party transactions
The Foundation’s insurance policy with AXA and subscription fees to JustGiving are covered at 100 per cent by Stanley Group Ltd.
No remuneration or expense reimbursement was paid to the trustees or any connected persons during the year.
Declaratlon Signed on behalf of the charity trustees.. Date 06 June 2024
| Charity Name | No (if any) | |||||
|---|---|---|---|---|---|---|
| Stanley Group Foundation SCIO | SC0508530853 | |||||
| Receipts and payments accounts | ||||||
| For the period | 45078.00 | To | 45443.00 | |||
| from | ||||||
| Section A Receipts and payments | ||||||
| Unrestricted | ||||||
| funds | Restricted funds | Endowment funds | Total funds | Last year | ||
| to the nearest | to the nearest | to the nearest | ||||
| to the nearest £ | to the nearest £ | |||||
| £ | £ | £ | ||||
| A1 Receipts | ||||||
| Nil | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Nil | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Sub total(Gross income for AR) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| A2 Asset and investment sales, (see | ||||||
| table). | ||||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Sub total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total receipts | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| A3 Payments | ||||||
| Naari Samata Unrestricted Funds | ||||||
| Acct. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Sub total | 0.00 | 0.00 | 0.00 | 0.00 | ||
| A4 Asset and investment purchases, | ||||||
| (see table) | ||||||
| Nil | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Sub total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total payments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net of receipts/(payments) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| A5 Transfers between funds | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| A6 Cash funds last year end | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Cash funds this | year end | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
CCXX R1 accounts (SS)
06/06/2024
1
| Section B Statement of assets and liabi | ||||
|---|---|---|---|---|
| Unrestricted funds | Restricted | Endowment | ||
| Categories | Details | funds | funds | |
| to nearest £ | to nearest £ | to nearest £ | ||
| B1 Cash funds | Reserves on Account for | 250.00 | 0.00 | |
| 0.00 | 0.00 | 0.00 | ||
| 0.00 | 0.00 | 0.00 | ||
| Total cash funds | 0.00 | 250.00 | 0.00 | |
| Unrestricted funds | Restricted | Endowment | ||
| funds | funds | |||
| Details | to nearest £ | to nearest £ | to nearest £ | |
| B2 Other monetary assets | 0.00 | 0.00 | 0.00 | |
| 0.00 | 0.00 | 0.00 | ||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
|
| B3 Investment assets | 0.00 | 0.00 | ||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
|
| B4 Assets retained for the charity’s | 0.00 | 0.00 | ||
| own use | 0.00 | 0.00 | ||
| Fund to which | Amount due | When due | ||
| Details | liability relates | (optional) | (optional) | |
| B5 Liabilities | 0.00 | |||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Print Name | Date of approval |
|
| 06 June 2024 |
CCXX R2 accounts (SS)
06/06/2024
2