SUMERIAN FOUNDATION
Latest income
£417k
Latest spending
£355k
Registered
2016
Accounts read
FY2023
Financial health, per its FY2023 accounts
The accounts state that the charity held total funds of £1.06m at year-end, with £53k in free reserves. Per the trustees' report, these free reserves are sufficient to cover core operating and skills support costs for at least one year, aligning with the stated policy of holding one year's expenditure in free reserves.
What the accounts disclose
Reserves policy: at least one year’s expenditure in free reserves (held: £53k)
“The Foundation kept its reserves policy the same as the prior year, which is to hold at least one year’s expenditure in free reserves (being unrestricted liquid reserves) on core operating and governance costs” — page 6
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Donations from Sumerian Partners Limited
“Sumerian Partners Limited gave an unrestricted donation of £25,000 in 2016, £5,000 in 2021, £10,000 in 2022 and £12,000 in 2023 to Sumerian Foundation, for the furtherance of its charitable objects.”
“During the year £242,066 was incurred under this agreement with Sumerian Partners Limited (2022: £246,951) which is included in direct costs in note 3.”
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Service fees to Sumerian Partners Limited
“Sumerian Partners Limited gave an unrestricted donation of £25,000 in 2016, £5,000 in 2021, £10,000 in 2022 and £12,000 in 2023 to Sumerian Foundation, for the furtherance of its charitable objects.”
“During the year £242,066 was incurred under this agreement with Sumerian Partners Limited (2022: £246,951) which is included in direct costs in note 3.”
Per its FY2023 accounts as filed with the Charity Commission.
Year-over-year changes
- Reserves position vs the charity's own policy moved from "below" (FY2022) to "above" (FY2023).
Trustees
- CLARE WOODCRAFT
- Dr CHRIS WEST
- Isabelle Irani
- RUPESH CHATWANI
- Rahul Nath Moodgal
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £417k | £355k |
| 31/12/2023 | £360k | £277k |
| 31/12/2022 | £329k | £257k |
| 31/12/2021 | £339k | £191k |
| 31/12/2020 | £120k | £191k |
Common questions
Is SUMERIAN FOUNDATION financially healthy?
The accounts state that the charity held total funds of £1.06m at year-end, with £53k in free reserves. Per the trustees' report, these free reserves are sufficient to cover core operating and skills support costs for at least one year, aligning with the stated policy of holding one year's expenditure in free reserves. Its FY2023 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| POWER TO CHANGE TRUST | 1 | £129k |
| THE FRANK JACKSON FOUNDATION | 1 | £85k |
| THE PARGITER TRUST | 1 | £80k |
| BACK ON THE MAP LIMITED | 1 | £53k |
| ST EDMUNDS TRUST | 1 | £21k |
| NFL FOUNDATION UK | 1 | £12k |
| THE FRANCIS WINHAM FOUNDATION | 1 | £10k |
| PAUL AND LOUISE COOKE ENDOWMENT | 1 | £5k |