THE WILBUR AND NISO SMITH FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that the charity's financial position is secure with total funds of £116,301 at year-end, comprising an expendable endowment of £92,123 and unrestricted reserves of £24,178. The trustees have confirmed there is no material uncertainty regarding going concern and have decided that no formal reserves policy is needed, agreeing to provide funds as required to ensure the Foundation can carry out its planned charitable activity.
What the accounts disclose
“The trustees have decided that there is no need for a formal reserves policy; they have agreed to provide funds as needed from time to time to ensure the Foundation can carry out planned charitable activity.” — page 11
“Mokhiniso Smith, a trustee, is also a director of Orion Mintaka (UK) Limited. During the year Orion Mintaka (UK) Limited provided the Charity with a financial donation totalling £35,000” — page 25
“Sebastian Davey, a Trustee, provided the Charity with gifts in kind of professional fees totalling £3,833” — page 25
“Mokhiniso Smith, a trustee, is also a director of Orion Mintaka (UK) Limited. During the year Orion Mintaka (UK) Limited provided the Charity with a financial donation totalling £35,000” — page 25
“Sebastian Davey, a Trustee, provided the Charity with gifts in kind of professional fees totalling £3,833” — page 25
“Mokhiniso Smith, a trustee, is also a director of Orion Mintaka (UK) Limited. During the year Orion Mintaka (UK) Limited provided the Charity with a financial donation totalling £35,000” — page 25
“Sebastian Davey, a Trustee, provided the Charity with gifts in kind of professional fees totalling £3,833” — page 25
Trustees
- MOKHINISO RAKHIMOVA-SMITH
- Mark Richard Alexander Sullivan
- Ruth Sorby
- Sebastian Davey
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/06/2024 | £160k | £159k |
| 30/06/2023 | £73k | £126k |
| 30/06/2022 | £147k | £89k |
| 30/06/2021 | £58k | £70k |
| 30/06/2020 | £112k | £111k |
Common questions
Is THE WILBUR AND NISO SMITH FOUNDATION financially healthy?
The accounts state that the charity's financial position is secure with total funds of £116,301 at year-end, comprising an expendable endowment of £92,123 and unrestricted reserves of £24,178. The trustees have confirmed there is no material uncertainty regarding going concern and have decided that no formal reserves policy is needed, agreeing to provide funds as required to ensure the Foundation can carry out its planned charitable activity. Its FY2023 accounts were independently examined.