THE STERLING CHARITY
The relief of poverty, relief of those in need by reason of youth, age, ill-health, disability, financial hardship, or other disadvantage, the advancement of education, the advancement of science, the advancement of the arts, the advancement of religion, the advancement of health or the saving of lives and the advancement of environmental protection or improvement throughout the world.
Financial health, per its FY2023 accounts
The accounts state that the Charity holds unrestricted funds of £16,150,918, representing a significant increase from the previous year's £14,818,864. The trustees confirm that these levels of funds and reserves are considered sufficient for the Charity to meet its requirements for a period of at least 12 months from the signing of the financial statements.
What the accounts disclose
“Incoming resources totalled £179,021 (2022 - £115, 130) comprising of investment income. The Charity's income was received from the investment portfolio.” — page 7
“The trustees are concerned with maintaining sufficient levels of reserves to enable the Charity to carry out its charitable objects. The trustees believe that the reserves are sufficient for the Charity's current purposes and these are reviewed on a regular basis.” — page 5
“Paul Hunston, who served during the year as a trustee, is a partner in the firm of solicitors Wiggin Osborne Fullerlove who are the solicitors of the Charity. The Charity incurred fees from Wiggin Osborne Fullerlove totalling £8,308 (2022 - £7,865) in relation to legal advice and services relating to 2023. Invoices raised by Wiggin Osborne Fullerlove were approved during the course of the year by the Board of trustees (excluding Mr Hunston) in accordance with clause 25(i) (b) of the Charity's Declaration of Trust.” — page 21
Trustees
- ELTON SHANE
- Paul David Hunston
- Warren Matthews
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £160k | £301k |
| 31/12/2023 | £179k | £263k |
| 31/12/2022 | £115k | £261k |
| 31/12/2021 | £79k | £247k |
| 31/12/2020 | £152k | £306k |
Common questions
Is THE STERLING CHARITY financially healthy?
Per its FY2023 accounts: The accounts state that the Charity holds unrestricted funds of £16,150,918, representing a significant increase from the previous year's £14,818,864. The trustees confirm that these levels of funds and reserves are considered sufficient for the Charity to meet its requirements for a period of at least 12 months from the signing of the financial statements. Its FY2023 accounts were audited by Rawlinson & Hunter Audit LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| CHK Foundation | 1 | £90k |
| THE TEDWORTH CHARITABLE TRUST | 1 | £70k |
| THE DULVERTON TRUST | 1 | £35k |
| THE GSR FOUNDATION | 1 | £32k |
| THE COLES-MEDLOCK FOUNDATION | 1 | £10k |
Charities like this
- THE CORNERSTONE CHURCH GROUP
- HOLLYHOCK CHARITABLE FOUNDATION
- THE ADFAL TRUST
- JANGALA LTD
- SOUTHWARK, ARUNDEL & BRIGHTON BRETHREN CIO
- THE CHARIS TRUST
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE STERLING CHARITY | £160k | — | 0 | above | — | no doubt |
| THE CORNERSTONE CHURCH GROUP | £226k | — | 0 | unclear | — | no doubt |
| HOLLYHOCK CHARITABLE FOUNDATION | £385k | — | 0 | unclear | — | no doubt |
| THE ADFAL TRUST | £130k | — | 0 | unclear | — | no doubt |
| JANGALA LTD | £999k | Over £60,000 | 0 | unclear | — | no doubt |
| SOUTHWARK, ARUNDEL & BRIGHTON BRETHREN CIO | £130k | — | 0 | unclear | — | no doubt |