SHARING LIFE TRUST
Financial health, per its FY2024 accounts
The accounts state that the charity survived on a 'hand-to-mouth basis' for the past 20 years due to inherent uncertainty in cashflow from private donors. Per the trustees' report, unrestricted reserves stood at £80,887 against a policy target of one year's expenditure, while total funds were £116,866. The charity reported a net deficit for the year, with total expenditure exceeding total incoming resources.
What the accounts disclose
“Trustees agreed at the meeting on 6th September 2023 that we should place £50,000 into an instant access savings account to ensure the ongoing viability of the trust for a minimum period of one year should donations drop off significantly in the future. This policy of covering one year’s expenditure will be reviewed annually.” — page 3
“The Trust’s income is predominantly from private donors, with occasional income from successful grant applications. Consequently, there is some inherent uncertainty over future cashflow and over the past 20 years we have survived on something of a hand-to-mouth basis.” — page 3
“When we submitted our 2023 accounts for inspection it became clear that the record-keeping was not complete and this led to the late filing of the Annual Return.”
Year-over-year changes
- Going concern: no going-concern doubt (FY2023) → going-concern doubt noted (FY2024).
Trustees
- PHILIP STRATTONchair
- CHRISTINE WARING
- Edward Fox
- JOHN HULETT
- Rev Ian Brown
- STEVE EYRE
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £108k | £90k |
| 31/12/2023 | £95k | £63k |
| 31/12/2022 | £76k | £59k |
| 31/12/2021 | £61k | £57k |
| 31/12/2020 | £82k | £51k |
Common questions
Is SHARING LIFE TRUST financially healthy?
The accounts state that the charity survived on a 'hand-to-mouth basis' for the past 20 years due to inherent uncertainty in cashflow from private donors. Per the trustees' report, unrestricted reserves stood at £80,887 against a policy target of one year's expenditure, while total funds were £116,866. The charity reported a net deficit for the year, with total expenditure exceeding total incoming resources. Its FY2024 accounts were independently examined.