CYFRIFWYR A CHYNGHORWYR ACCOUNTANTS AND ADVISORS Company registration number: 03097219 Charity registration number.. 1049102 The Template Foundation la company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024
The Template Foundatlon Contents (contlnued) Reference and Administrative Details Ito2 Trustees, Report 3to6 Statement of Trustees, Responsibilities Auditor's Report 8tolO Statement of Financial Activities li Balance Sheet 12to13 ststement of Cash Flows 14 Notes to the Financial Statements 15to24
The Template Foundation Reference and Administrative Details Trustees Michelle Charlton Nicholas Woodeson Principal Office Room 222 Balfour House 741 High Road London N120BP Charity Registration Number 3097219 Company Registration Number 1049102 Audltor Ad Valorem Audit Services Limited 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keynes MK12 5NN Bank HSBC 31 Euston Road London NWI 25T Lloyds Bank PLC 25 Gresham Street London EC27 7HN The Co-operative Bank l Balloon street Manchester M4 4BE Page I
The.Template Foundation Reference and Admlnlstratlve Detalls {continued) Sollcltors Raymond Saul Solicitors 2 Puddle Dock London EC4V 3DS Protopapas LLP Queens House 180- 182 Tottenham Court Road London WIT 7PD AccounLints PJE, Accountants and Advisors 23 College Street Lampeter Ceredi8ion 5A48 7DY Page 2
The Template Foundation Trustees. Report The twstees, who are director5 for the purp05e5 01 cornpany law, present the annual report together with the financial statements of the charitable company lorthe year ended 31 December 2024. Introdurtion Fojlowlng the declslon In 2023 to market forsale our fadlltles In Barnet and Waunifor, we're pleased to reportthat a buyer was found for the Barnetfatility ènd a sale completed in May 2024. We athieved è sale value of £1.8 milllon. which corresponded to the Valuaon that we had independently commissioned f¥orn è RICS qualified surveyor. Prlor to completloA we secured a Ilcense aement for use of art office facility in Flnchley, north London, to function both as an office forthe Charity. a library and 3 Small meeting room for up to 6 people. By the end of 2024. the tnarketing of our Wauniforfacility in West Wales through an estate agent had not attracted any offers. and marketing will continue into 2025. Throughout 2024. Waunifor continued to provide opportunities for both local and residential events. wtth v4Sitors from acr055 the UK and internationalW. albeit that the level of activity achieved is still insufficient to 5U5tain its longer-term viability- The funds realised from the sale of our Bametfacility were invested in accordance with our investment policy. which wa5 agreed by the management committee at the 2024 AGM. The policy was developed by our consultants, and stipulated a predomTrnantly low to medium risk approach. in order to preseive the future value of our investments towards fulfilling our Charitable objertives. Throughout 2024 we have continued to provlde publlc benefit through activities both on-line and in person. and have supported art exhibitions, well-belng events, a story-telling festival. music concerts, phllosophical workshop5 and more. in both En8land and Wales, using hired meetlng rooms and halls where needed in London and surrounding counties. 2024 also saw a further sta8e of our review to develop a new strategy for thefvture of the ChariW5 activities In support of our objectives. and how tts optirnally use our funds towards those ends. The strategy so far developed encompasses continuint to protnote and offer meetlngs 3nd evènts, funding and prornoting projects In various locations in the UK and potentially providing grants and donations for furtherance ol our objects and lookingtoward5 a more sustainable and approprlate facility forthe longer term. Structure. Governance and Mana8ement TheTernplate Foundation is a chailtable company limited by guarantee and set up under a Memorandum and Articles of Association on I September 1995. It was fomerly known as Emin Arts and chan8ed tts name to The Template Foundatlon on 6 September 2(K)l. The directors of the company are also charity trustees forthe purposes of charity law, and are members of the company. All trustees retire from office atthe Annual General Meeting and may offer thernselves for re-elecrion at that time. Because olthe natu of the work of the Charity. trustees are 50ughtto bring a broad ranEe of experience to the fulfilment of the objects of thÈ Charity. A range of skills are well represented that aid in the governance otthe Charity and the furtherance of its objects. Trustees are sought according to ski115 needed forthe proper running of the Charity and are nofnillated and elerted by the Rewstefed Members. In the light of our5trategic review we will be attively seeking additional Trustee5 in 2024 with the skills to faalitate our new fUre direction. On appointmenL trustees are already familiar with the work of the Charity anij are given an understanding of the role of trustees by their fellow trustees. In the event of the company being wound up. members of the charitable company are required to contribte an amount not exceeding £io.cNJ The day-to-day management of the Charlty is carrled out by an operatlons team which inclvdes all the salaried officer5 and consultants. while much of the day-to-day charibable work is undertaken by unpaid volunteers. The trustees, in consultation wlth the operation5 team. provlde the framework and dirertion for the O)arity. Governance and associated managernent attivitie5 are carried out to ensure we are compllant wlth all relevant regulations and law related to our artivities In England and Wales. Page 3
The Template Foundation Trustees. Report (continued) In relation to buildings the operations teèms continue to rnaintain the prerni5es in accordance with Health 3nd Safety leglslatlon, and other regulations that apply, In relation to other slgnlflcant legal requlrements, we are pleased to report thatthe data protettion procedure5 implemented in 2018, in actordance with the Data Protection Act 2018, have sUIted in no data breaches to report for 2024. In relation to achieving the sale of our Barnet facility. we are pleased to report that we took the necessary Stepsto ensure compliance with the guidance of the charity commisslon ICC281. Thls Included Involving independent advisors where it was necessary. Obkdlves and Adlvltles The ot)jects of the charity are: 11 To advance the edutioN of the public by the promotion and further study of hurnan behavioural SCiEnce5. philosophy, history, and allied subjects, Tncluding arts such as theatre, dance and music and the establishment of centre5 and facilities,. 21 To offer and represent in all artivities the natural educatlon and arts of human expression and living derived from the Template and Ernin Archives, the on-goinE body of philosophical and practical research tltat forrns the basis for the charitable activities of the Chaty, forthe benÈfit of the public., 31 To promote the study. research and exploration of new ways and new applicatlOn5 into all aspects of the abtsve, ènd to disseminate the useful results of such study, research and exploration for the benefit of the public. Achlevement. Perfomian¢e and Publlc Benefrt The Charity focuses on the research and development of new templates in many a3$ and into diverse subjects, based on the Template and Emin archives. These include education, sustainable development. well-belng xlences, music, dance, current i5sue5, personal development, hurnan evolution,. gender, human splrltuallty. orfginal theatrical arts and other5, and to offer the SUItS of these researches in different ways for the beneflt of the publlc. The aim in each area Is to enhance the life, prartical skills and contribvtSon to soclety of the people who p3rt1cSpate In events and attivities that the Charlty runs with the help of the skills and experfence avallable wlthln the volunteer body. The last year has contlnued to bring changes and a si8nifScant level of uncertainty. and the tharity continues to review how its objects a b&lng met. It is clear that attivity contlnue5 to need to be rnore broad ranging In terms of content. written ènd audio. and the media through which these are offered. which is one of the aa$ belng consldered within our 5tr&tegic review, Publk Benefft TheTrustees consider that in a tirne of global change. drfficulty and uncertaintythe Charity offers a focus on universal CO human valuos and template5 for livinE in these times to asslst people in leadin£ a balanced, purp05eful and prDgre55ive life. These CO values underpin and iDFu5e all the subject area5, activitie5 and ¢vents promoted and supported by the Charity. and are based on the Emin and Ternplate archive. Rlsk MaeMent We confirm that the major risks to which the Chartty is exposed. as identrfied by the Trnsteos, have been reviewed. Although there is still a fisk th8t donation5 continue to decrease, the 5ucce5sful 5&1e of tho Barnet facility. and the plan to sell the Wauniforfacility, have placed the Charity on a more secure financial lootimg towards continuing the achievement of our 017jert5 In diverse way5. There a more opportunitie5 to increase the level of charitsble activity through the funds that are now available. Page 4
The Template Foundation Trustees, Report (continued} Results The results of the charity are shown in the Statement of Financial Artivities on page 7. The net incomlnglloutgolngl resources of unrestrlcted funds, whlch are the operational reserves of the charity, were £1.311.81312023- E44,0931. There were no net incominBllout8Oln81 resources of restrictect lunds12023: £01. Flnan¢lal Review The accounts for 2024 have been prep8red by PJE. Chartered Accountants of Lampeter in Ceredigion and audlted by Ad Valorem Audit Servlces LSmlted of MSlton Keynes. The Trustees are pleased by the continuing financial support received during the year and note that the donations remain relatively stable. The rlsks associated with the m3frorlty of Income being through donations have been revlewed, as detailed above. The faclllty that the Template Foundatlon owns, and the proceeds from the sale of the Barnet faclllty, provide thè Charity wlth sSgniflcant assets. Reserve5 Poli¢y Atthe year end. the Foundatlon's reseNes were £50,(ÉO. These rèserves are held a8alnstcontingencie5 and unexpected emergen¢ies. Our vIsed investment pollcy was reviewed and adopted at the AGM. Investment Policy Thls Investment pollcy sets out the Ch3rity's approach to investlng. It is a framework for makln8 investrnent declsions, managing our financial resources, and meeting our governance responsibillties. We wlll review our investment policy annually to ensure that it continues to align with our charitable mlssion and objertlves. Scope The Charity will invest In 3 diversified r3nBe of asset classes and regions. We w511 consider Illvestment in savings accounts. stock5, collective investment funds, bondsi property, commodities and other investment vehicles that all8n wlth our charitable mission. Investment ObjéciivÈs Our investment objective5 are to achieve growth and income. We airn to generate Sustsinable returns that allow us tts achteve our charitable objectives. whlle protecting the capltal value of our Investrnents. Rlsk Appetlte We Yecognize that every investment carrie5 risk, and we will manage these risks to ensure that they are commensurate with ouroblective5 and the financlal resource5 avallable. Our Charlty's risk appetite ts low to Moderate, alld we are willing to accept fluctuations In the value of our assets In pursult of our investment objectlves. Balancln8 Inwestmént Rlsk ond Rtturn We wlll balance risk and return to achleve our investment objectlves. We will seek to achieve our Invèstrnent goals through a mix of low-rlsk and medium-rlsk investments to achieve a dSver5ified portfolio of investments that sult our needs. Amount Avallable We will Invest our financlal resources In line with our objectives, risk appetite. and investment policy. The amount we have availablefor investment will be reviewed regularly, and we will adjust our investment strate8y as necessary to ensure that we continue to meet our objectlves. rime Horlzon Our investmenttirne horlion is short to medium-tem), and we alm to invest In such vehicles. We recognize that investing requires a di5clplined approach to generate sustainable returns. Lrquidlty Needs We will ensure that we have sufficient liquidity to meet our financial commltments. including grants, other charitable activities, projects and findn8 suitsble operational centres. We wlll invest in1Squid a55ets and maintain an appropriate level of cash reservés to ensure that we can access our money when we need it. Page S
The Template Foundatlon TNstees' Report {contlnuedl Types of Invtstments We wlll consider investing in ethical stocks that align with our charltable mlssion. We will avoid investing in stocks that go agaln5t our charity's aims. . Dec151oTrMaker$ The trustees are responsTble for making investment decisions In consultation with advisers, Including approvingthe investment pollcy. setting investment objertives, and selertln8 external Investment hllanagers if deemed approprlate. We may at our choice, act in accord3nce with advlce from flnancial advisors and manage the investment ourselve5. or instruct Investment managers for a portion of our investrnent pool. Perfornian We will Measu the performance of our Snvestments based on the total return. We will review our performance re8ularly and adjust our investment strategy as necessary. Reportlng Requirements We will communicate the Investment performance to our 5takehoSders annually. Responslbllltyand Remlt of the Investment Manager If we engage an external Investment Manager, they will be SpOnsIble lor irnplementlng our investment strategy, making investment decislons on our behalf, and reportin8 on Investment performance. A¢countsnts and Independent Examlners A re501ution was passed at the AGM on 2419125 that PJE, Accountants and Advisors, should be reappointed as account8nts ènd examiners to the Charity for the ensuing year. v order of the Trustees Mr N. Woodeson On behalf of the Board of,Trusteesl DIOr$ Date.. 2111112025 Page 6
The Template Foundation Statement of Trustees, Responsibilities The trustees Iwho are also the dlrectors of The Template Foundation for the purposes ol company lawl are responsible for preparing the trustees, report and the flnancial statements In accordance with the United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Acctsunting Practice) and applicable law and Regulations. Company law requlres the trustees to prepare flnancial statements for each flnanclal year. Undercompany law the trustees rnust not approve the financial statements unless they are satisfied that they glve a true and fair view of the state of affairs of the charltable company and of its incoming resources and appllcatlon of resources. includlng Its income and expendlture, forthèt period. In pieparing these financial statements. the trustees are reouired to= selecr suitable accountin8 policies and applythem consistentlv: observe the methods and principles in the Chartties SORP., make judgements and estimates that are reasonable and prudent- State whether applicable VK Accountln8 Standards have been folltswed. subject to any material departures dlsclosed and explalned In the financlal statements., and prepare the flnanclal statements on the going conrn basis unless it is Inappropriate to presume thatthe charitsble entity will contlnue In buslness. The trustees are responsible for keeping proper accounting records that disclose wlth reasonatile accuracy at anytime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities Att 2011, thè applicable Charlties (Accounts and Reports1 Regu13tions, and the provlslons of the constitution. The trustees are also responsible for s3feguardln8 the assets of the charity and hence for tsklng reasonable steps forthe prevention and detertion of fraud and other irregu13rities. Approved by the trustees of the charity on and slgned on its behalf by.. Trustee Page 7
The Template Foundatlon Auditors, Report to the trustees of The Template Foundation Oplnlon We have audited the financial statements of The Template Foundation Ithe'charitable cofflpany'l for the year ended 31 December 2024whith comprise the Statement of Financial Attivities, the Statement of Financial Position, the Statement of Cash Flows and notesto the financial statements, including a 5uTnmary of signlficant accounting policies. The financial reporting framework that has been applied In their preparation is applicable law and Uni(ed Klngdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practlcel. In our opinion the financial statements.. 8Ne a true and fair view of tho state of the charitable company's aFFairs as at 31 December 2024 and of its incoming resources and application of re50urce5, including its incorne and expenditure, for the year then ended,. have been properly prepared in 3ccord3nce with United Kingdorn Generally Accepted Accounting Prattice,. and have been prepared in a(Crdan with the requirement5 of the CotnpaniesAtt 2(K. Basls foroplnlon We conducted our audit In acmrdance Wbth International Standard5 on Auditing IUKI IISAS IUKII and applirable law. Our respon5ibilitie5 under those standards are further described in the Auditor5, re5ponsibilitiesforthe audit of the financial statements settion of our report. We are independent of the charitable company in accordance th the ethical reqvirements that are r@levant to our audtt ol the ftnaftdal statements in the UK, includin8 the FRC'5 Ethical Standard. and we have fulfilled our other ethical responslblliteS Sn accordan wlth these requirements. We believe that t audit eVidenWe have obtained is sufficient and appropriate to provide a basis for our oplnion. Concluslons relatln8 to going toncern In auditlD8 the financlal statements, we have concluded that the trustees, use of the 8oin8 cortrn basis of accounting in the pparatIon of the financlal statements Is appropriate. Based on the work we have performed, we have not identified any material uncertalntles relatlng to events or condhlons that. individually or collectlvely, m3Y Cast significant doubt on the charitable companrfs ability to contlnue as a golng concern for a perlod of at least twelve months from when ihe Iinancial statements are authorised for Issue. Our re5ponsibilitles and the responsibilities of the trustees with pect to going conrn are descrlbed In the relevant sectlons of thls repK)rt. Other Informatlon The trustee5 are responsible for the other information. The other information comprfses the information inclLKled in the Annual Report, other than the financial statements and our Report of the Independent Audltors thereon. Our opinion on the linancial statements does not cover the other information and. except to the e¥tent otherwi* explicitly5tated in our report. we do not express any form of a55urznce conclusion thern. In connection with our audit of the fin3ncial 5tatement5, our rosponsibility is to read the other infDrmation and, in doing so, consider whether theother information is materially Incon515tent with the financial statements or our knowledge obtained in the audit or othew4ise appears to be materially misSt3ted. If we identify such material inconsistencie5 Dr apparent material misstatemÈnts, we are required to determine whether this givÈs rise to a material misslaternent in the finantial ttatements themselves. If. based on the WOTk we have performed, we conclude that thore is a material mi55taternent of this other information, we are required to report th3t fatt. We hwe nothing to report in this regard. Page 8
The Template Foundation Auditors. Report to the trustees of The Template Foundatlon Icontinuedl Matters on whlch we are TvIle to report by ex¢eptlon We have nothlng to report in respert of the followlng matterswhere the Charities (Accounts and Reports) Regulations 2008 requlres sto rew)rt to you if, in our opinion.. - the information given In the Report of the Trustees is inconsistent In any materi31 respert with the financial statements; or - the charitable company has not kept adequate accounting cOrdS.. or - the financial statements are not in aErÈemÈnt with the accountiag record5 and returns,. or we have not received all the infofmarion and explanatlons we requlre for our audlt. Responsibilities of tree5 A8 explained more fully in the Staternent of Trustee5' Responsibilities, the trustee5 (who aro also the direttors of the charitable companyforthe purposes of cotnpany lawl are responsib forthe preparation of the financial statements and lor boing satisfied thattheygive a true and fairview. and for such internal control asthe trustees deterrnine is nesSary to enable the preparation of finantial staternentsthat arefree from merial tnisstatement, whether due tofraud or error. In preparingthe financial Statements. the trustees are responsible for assessin8 the charitable companrfs ability to continue as a 80in8 wncem, disclosin8, as applicable, rnatters related to going concem and using the gosng conrn basls of accounting unless the trustees elther intend to liquidate the charitable company orto ase Dperation5, or have no realistic alternative but to do so. r responsibl1le$f0lthe audit of the financial staternent5 We have been appolnted as audltors undersection 144 of the CharitiesArt 2011 and report in accordan with the Act and leVant 8ulation5 made or having effect thereunder. Our objettives are to obtain reasonable assurance about whether the Pinanc131 statements as a whole are free frorn rnaterial mi55tatement, whether due to fraud or error, and to issue a Report of the IndependentAudltors that Includes our opinion. Reasonable assurance is a high level OF assurance, but is not 3 euarantee that an audlt conducted in accordance with ISAS IUKI w511 always derett a material misstatement when it exists. MSsstatements can arise from fraud or error and a considered material if. individually or In the 4gregate. they could reasonably be expected to Influence the economic decisions of users taken on the basis of these financial ststements. The extent to whlch our prOdreS are opable of detectÈng irregularltles, Includln8fraud is detailed below In our pro5 of identifying fraud risks we assessed events or conditions that indlcate an Incentive or pressure to commt fraud or provide an opportunityto commit fraud I'yraud ri%k fattors") to deterffline how fraLxI risks are relevant to our audit. Based on the aLxfitin8 stsndard5 we addfessed two Iraud risks that were relevant to our audiL in relation to revenue recognition and rnanagement override of controls. 8a5ed upon our analysis of fraud ri5kfactor5, we have not identified any any additional fraud risks. Our audit procedures induded an evaluation of the design, implementation as well as thÈ operating effettiveness of internal tontiols relevant to tnitigate these risks. We also performed substantive audit procedu. Includinz dailed testing of journal entries and procedures to satfy ourselves that revenue has been properly recognised in thefinancial statements in aordanCe with financial rerM)rtlllE Standards and the charity's accounting policie5. Through these procdure5, we did not identify any material artual or suspected incidences of fraud. We have evaluated farts and circumstances in ordEr to a5se55 laws and regulations relevant tothe charlty. We identified areo5 of laws and re8ulationsth could reasonabty be expetted to have a rnaterial effect on the financial statEtnents through dlscussion with the Trustees las required by audlting standardsl and disctjssed with the Trustees the policies and procedures ie8ardin8 compliance wlth laws and re8ulation5. We cornmunl<ated ideMrfied13ws and regulations throu8hout ourteam and rernalned alert to any indications of nowompllarKe throughout the audit. Audlting standard5 litnit the requlred audit procedures to identlfy non-complian with these regulatlons to ewuiry of the Trustees 3rKI Inspertion of regu13tory and legal correspondence. if any. Through these procedures we dld not Identify any material actual orsuspetted non-cornpliance. Page 9
The Template Foundation Audltors. Report to the trustÈÈs of ThÈ TÈrnplate Foundation Icontlnuedl Our responslbilities for the aud ol the fftnanclal rtatements Itontinuedl We [te that our audit 15 riot primarily designed to detect non-compliance with laws and regulatiDns and thE Trustee5 are responsible for such internal control a5 the Trustees of the Charty dotemiine is necÈssary to Énable the preparation of financial statements that are free frorn material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additional, owing tothe inherent limitatlDns of an audit, there 15 an vnavoidable risk that we rnay mt have detected some material misstatements in the flnancial SrementS, even thou8h we have propedy planned and performed our audit in accordan£e with auditins standird5. We are responsible lor preventSng norFcomplIan and cannot be expetted to detect non<0mplian with all laws and regulatlons. A furtherdesulptlon of our re5ponslbllltles for the audlt of the flnanclal ststements ts located on the Flnanclal RerK>rting Council's webslte at www.Irc.org.uk/audltorsresponslb111tles. This descriptlon forms part of our Report of the Independent Audltors. Other Matte whl¢h tose are requlred to address The comparative figur*5 for the year ended 31 December 2023 were unaudited. Use of report This report is rn3de solely to the charitable company's trustees. as a body. in accordan with Part 4 of the Charities IAccounts and Reportsl RegulatlOn5 2008, Our audit work has been undertakell $0 that we might state to the charitable company's trustees those matters we are requlred to state to them in an auditors, report and for no other purpose. To the fullest extent perrnitted by law, we do not cept or a55uffle responsibilwtyto anyone other than the charitable company and the charltable company's trustees as a body, for our audit work, for thFs report, or for the opSnlons we haveformed. Ad Valorem Audit Servlces Llmited Chartered Certifled Accountants & StatutoryAuditors Ellglble to act as èn auditor in terms of Secilon 1212 of the CornpaniesAct 2006 2 Mènor Farm Court Old Wolverton Road Old Wolverton Milton Keyne5 Buckinghamshlre MK12 5NN Date". Page 10
The Template Foundation Statement of Financial Artivities for the Year Ended 310ecember 2024 (Including Income and Expendbture A¢¢ount and Statement of Total Reco8nlsed Gains and Losses) Unaudited and Reststed Total 2023 Unre5trlcted Funds Totsl 2024 Note In¢ome and Endowment$from: Donations and legacies Government Grants Charitable activities Investment Income Other activities 136,911 136,911 117,089 35,281 41,323 1,377,019 35,281 41,323 1.377,019 62,240 1,955 42,391 Total Income I,5,$34 1,59),S34 223.675 Expenditure on: Ralslng funds Charitable activities 1115.2231 1163,4981 1115,2231 1163,4981 188,6061 1179.1621 Total Expenditure 1278,7211 1278,7211 1267,7681 Net (expenditu}l1n¢orne 1,311,813 1,311,813 144,0931 Net movement in funds 1,311,813 1,311,813 lJ14,0931 Reconciliatitin of funds Total funds brought forward 891,657 891.657 935,750 Prior period adjustment 223,729 223,729 Total funds carried forward 18 Pa8e 11
The Template Foundation (Registratlon number: 03097219) Balance Sheet as at 31 December 2024 Unaudlted and Restated Total 2023 2024 Note Flxed assets Tangible assets 14 571,855 571,855 797,627 797,627 Current assets Debtors Investments Cash at bank and in hand 16 17 7,105 1,467,979 384,914 1,859,998 8.411 14,351 270,782 293,544 Creditors: Amounts falling due wlthln one year 18 14,6541 1199,5141 Net current assets 1,855,344 94,030 Total assets less current liabilities 2,427,199 891.657 Credltors: Amounts falllng due after one year 101 10 Net assets 2,427,199 891,657 Funds of the charity: Unrestricted funds 19 2,427,199 891,657 Total funds 2,427,199 891,657 Trustees responsibilitles.. 11 The members acknowledge the requirment of the charity to obtsin an audit of its accounts for the year. 21 The trustees acknowledge their responsibilltles for complylng with the requirements of the Act with respert to accounting records and the preparation of accounts. Page 12
The Template Foundation (Registration number: 03097219) Balance Sheet as at 31 December 2024 (continued) The financial statements on pages 9 to 21 were approved by the trustees, and authorised for issue on . .2.11.1412&25 and signed on their behalf by.. Trustee Page 13
The Template Foundation {Registration number: 03097219) Statement of Cash Flows as at 31 December 2024 Unrestricted funds General Un3udited and Restated Total Funds 2023 Total Funds 2024 2024 Cash flows from operatlng actlvltle5 Net movement in funds 1,311,813 1,311,813 {44,0931 Adjustments for= Depreciation of tan8ible assets Investment income Gains from disposal of assets 11,752 141,3231 11,324,313) 11,752 41,323 1,324,313 26,390 11,5651 Changes in: Trade and other debtors Trade. other creditors and accruals Cash generated from operations 1,306 114,8601 155,6251 1,306 14,860 155,6251 3,455 14,678 11,135) Cash flows from Investing activities Disposal of tangible assets Investment income Net cash used in Investing activities 1,582,062 41,323 1,623,385 1,582,062 41,323 1,623,385 180,0(M) 1,565 181,565 Net Increase/{decrease) In cash and cash equivelents Cash and cash equivelents at beginning of year Cash and cash equlvelents at end of year 1,567,760 285,133 1,852,893 1,567,760 285,133 1,852,893 180,430 104.703 285,133 Reconcilliation of Cash and Cash Equivalents Cash at Bank and in Hand Investments Total Cash and Cash Equivalents 384.914 1,467,979 1,852,893 384,914 1,467,979 1,852,893 270.782 14,351 285,133 Page 14
The Template Foundatlon Notes to the Flnanclal Statements for the Year Ended 31 December 2024 l. Charjtystatus The charity is limited by guarantee. incorporated in ETh8Thd and Wales, and consequentw does not have share capital. Each of the tyustees is liableto contrlbute an amount notexceedSng £10 tewa¥ds theassets of thecharltyln the event of liquidation. The address ol its re8lstered office is.. Room 222 Balfour House 741 Hish Road L¢J)don N12 OBP 2. Accountlng polkles Summaryof slgnlflcant accourtlna polkles and keyaceourttlnB estimates The prinupal accounting policies applled In the preparatlm of the5efinancial sta*ements are setout below. These policies have been conslstently applied to all theyears prÈ5Ènted, unle55 Othwwiseststed. Stslenynt ol wmpllance Thefinèncial 5taterrent5 have been prepared In 3Ctvdancewith Accounting3nd Reportift8 by Charityes.. Statement of Recommended Practice applitable to tharitie5 preparlng thelf accounts in accordance wlth the nan0#1 Reportirtg StHndard appllcable In the UK and RepublSc of Ireland IFRS 1021 Ilssued in October 20191- (Charities SORP IFR$ 10211, the Financial Reportin8Standèrd applScable in the UK and Republic of Ireland IFRS 1021 and the ChaFitles Act 2011 Basisof preparatlon TheTemplate Foundatien meets the deflnltlon ol a public benefit entity under FRS 102. Assets and liabllltles are initially recognised at historical cost ortransactlon value unle55 Otherwise5tated In the releyant accountlng Oicynote5. Thefinandil statements are presented In sierllng which is the functlenal currency of thecompany and rounded to the nearest£. Going The trustees consider thot there are no materi41 uncertainiies aboutthecharltys abilityto contirsue as a going toncern nor ènysignificant dreas of uncertainty that affect the carryln8 value of a$5ets held bythe charity. Im¢ome and endowments All Income is fecogni5ed oncethe chority has entStlementtothe income, it is probablethattheincornewill be reteived and the amtrJnt of the income reteivable can be measured relièbly. Dorwtlonsand legacies Donations are fetognisèd when the chèrity been notified in writineof boththe arnount and settiernent date. In the ewent th a donation Is Su.e£ttoC¢nd5Isons that require a level of performance bythÈcharuty belerethe tharity Is entltled to the funds. the income Is deferred and not reco8nised until e11her those conditlons are fully rnet, or the fuifilrnent of those conditions is wholly within the control of thecharityand tt 15 probable that these conditions will be fulfilled inihe reporting period. Support costs Grants are recognlsed when the charlty has an entltlementtothe funds and anycondlt(ons linked tothegrants hae been mÈt. Where pertormance ttrnditions are attached to the giant and are yet to be met, the Inc£vne is recognlsed as a libility and included on the bèlance sheet 8$ deferred income to be released. Eyendlture All ewenditure is iecognised once there is a legol or t$t[UCtIve obli8ation to thatexpendlture, it15 probable settlement ks required and the amcunt can be measured rÈli¥bly. All costs are allocated to the applicable expenditure headingthat aggregate simllar costs to Ihateète80ry. Where tosts cannot be directly attributed t<>particular headingst they have been allocated on a basls consistent with the use of resources, with central Staff costs allocated on the ba515 of tlme spent and depretiation charges Sllocated on the Porbon of the asseV$ use. Othersupport custs are 8llo¢ated b35ed thespread of stsff ¢05ts. Pase 15
The Template Foundatlon Notes to the Flnanclal Ststements for the Year Ended 31 Oe¢ember 2024 Icontlnuedl These arec05ts inturred in attr8Ctin8 volufflary inceme,the mana8emert of Investynents and those Incurred in tradin6 aCtitIeS that ralse funds. Choiitoblet7cllvftles Charitable expenditure compri5e5 those costs iu[red bythechayity inthe delivery of its 4ctivitie5 and 5ervice5 fDr its beneficiarie5. It includes both costs that can be allctated directlytosuch athwties and those costs of an indirect nature necEssary to support them. GoverThance costs Support costs include central funttions and have been allocated to achvtty costcateÉorie5 on a basi5 con5i5tent with the use ol resources. for example, allocating property costs by flijor area5, or percapita. sraff c05r5 by the tirne Spent and other costs by theirusaEe. T¥xation Thech3rity 15 considered to pass the iests set out in Pbragraph I Schedule 6 of the FinanceArt2010 and therefore It rneas the definition of a charitbble company for UK corporationtsx purposes. ACCOrlgly. thechaTity is potentially exempt from taxation in pectof inccme orcapital galns received within cate8ories cowed by Chapter 3 Part IL of the Corporation TaxArt 2010 or Settio 256 of theTaxation of Chargeable G8in5 Att 1992, tr>the e¥tentthat such income or gains are applled exclusively to charitable purpDses. Tan8ible flxed assets Individual fixed a55ets CDsting £100.00 or more are initially recorded at C05L less any subsequentaccumulated depreciion and subsequent accumu13ted impairmert10s5e5. riepreclatlon ar amortlsatlon Dèpreciation is prOded on tangiblÈflxed assets so a5 towrite off the cost or ValUafj, le55 any estlm8ted residual value, over their eypected useful economic life. The ratss of depreciatiort being., Freehold Land No depreciatlon Freehold Propty- 2% 5trai8ht line basls Plant and Machinery- 25% StrBi8ht line basls In the year$ 2023 and earlierthe cost of land and property were not shown seperaiely ènd both were depieciated at a rate of 2% per annum on a strai8htline basis. This has been corrected in the current year accotjnts by wèy of a prior year adjustment. Current a55etlmvestments Current asset investments are included atthe lower o costand net realisaNe value I market valve. Cash ar cash equivalent5 Cè5h and cash equivalents comprise cash on hand and call depusits, and other 5hort-term highly liquid investments that are re&di convwbbleto a known amount of cash and are subjectto èn insiEnrficant risk of change in value. Trade debtor5 Tradedebtots ère amounts due from custorner5 fiyr merchanthise sold or service5 performed in the ordlnary courseof business. Trade debtors are reco8nised initially 3t the tran5èttion price. They are 5ubsequwtly rneasured at amortised c05t Using the effettive interest method, le55 promsion for impairment. A provl9Son for the impairment of trade debtors is etsblished when there 15 objertive evidetTrcethat the charity will not be able to collett all amounts due accordlngto the oriwnal terms of the receivables. Fund 5twewre Unre5tritted Income fund5 are general fundsthat are a¥allaNe fiY use &thetrusiee's discretion in furtherance olthe obj*tlves of the charlty. Desiated funds are unre5tritted fund5 Set asidefor speclfic purp05e5 atthedlscretlon of the trustees. Page 16
The Template Foundation Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 3. Income from donations and legacies Unaudited and Unrestrlcted Totsl Restated Total Funds 2024 2023 Donations and legacles,. Donations from individuals Glft aid reclaimed Government Grants 130,082 6,829 130,082 6,829 111,610 5,479 Total grant receipts 136,911 136,911 117,089 4. Income from charitable actlvltles Unaudlted and Restated Total Unrestrirted Total 2024 Funds 2023 Income from charitable activities 35,281 35,281 62,240 5. Investment income Unaudlted and Restated Total Unrestrlcted funds Totsl 2024 2023 Interest receivable and similar income,. Interest receivable on bank deposlts Other investment intome 1,721 39,602 1,721 39,602 390 1,565 Total investment income 41,323 41,323 1,955 6. Other Income Unrestricted Fund5 Unaudited and Total Restated Total Designated General 2024 2023 Fees and supplies Rental income Galn on disposal of property 74 52.632 1,324,313 74 52,632 1,324.313 334 42.057 Total Dther Income 1,377.019 1.377,019 42,391 Page 17
The Template Foundation Notes to the Financial Statements for the Year Ended 31 December 2024 {continued} 7. Expendlture on raising funds Costs of generating donations and legacles Unrestrirted Funds Allocated Unaudited and Reststed Total 2023 Total Dirert Costs Support Costs 2024 Costs of generating donation5 and legacies 114,155 1,068 115,223 88,606 8. Expendlture on charitable activltle5 Unrestricted Funds Tota Totsl 2023 Designated 2024 Note Allocated support costs 163,498 163,498 179,162 9. Analysis of support costs Raisln8 fund5 expendlture Costs of generating donatlons and le8acles Unrestrlcted Funds Unaudited and Restated Total Totsl Basi5 of General 2024 2023 allocatlon Bank charges Interest payable 1,068 1,068 973 Page 18
The Template Foundation Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 9. Analysls of support costs Icontinuedl Charitable activitie5 expenditure Unrestricted Funds Unaudited and Restated Totsl Totsl General 2024 2023 Employment costs Establishment costs Events expenses Repairs ènd maintenance Office expenses SLtndry and other costs Advertlsing and promotlon Depreclatior) of tangible fixed assets 37,611 10,863 5,470 84,182 37,611 10,863 5,470 84,182 28,142 6,050 11.097 86,651 307 18,198 2,327 26,390 13,620 13.620 11,752 11.752 Support Costs allocated to raising funds Unaudited and Total Restated Total Basis of Finance costs 2024 Z023 allocatlon Costs of generating donation5 and legacies 1,068 1,068 978 Support costs allocated to charitable activities Unaudlted and Reststed Totsl 2023 Total 2024 Note Staff costs Administration costs Premises costs including depreciation Other 5UPPOrt C05t5 37,611 5,470 106,797 13,620 28,142 13,731 119,091 18,198 io 163,498 179,162 Page 19
The Template Foundation Notes to the Financial Statements for the Year Ended 31 December 2024 {continued) 10. Net Incomlngloutgoing fesources Net loutgoingl/incoming resources for the year include: Unaudited and Restated Total 2024 2023 Depreciation of fixed assets 11,752 26,390 11. Salarfes The average number of employees in the year, caculated on a full-time equivalent basis was 712023 - 71. The total salary payments were £117,92012023 - £112,504). No employee was paid over £60,000. 12. Trustees remuneration and expenses No trustees, nor any persons connetted viith them, have received any remuneration from the charity during the year. 13. Taxation The charity is a registered charity and 15 normally exempt from taxation under the provisions of the small tradlng tax exèmptlon as relating to charities. The charity is exempt from the requirèment to register for VAT as the non-primary trading income of the charity is below the VAT registration threshold. 14. Tangible flxed assets Unaudlted and Reststed Total 2023 Freehold land Freel)old ljulldings Fumlture and equlpment Total 2024 At l January 2024 Disposals 496,563 1300,5401 822,957 1235,3601 12,940 1,332,460 1535,9CN)I 1,332,462 At 31 December 2024 196,023 587,597 12,940 796,560 1,332,462 Deprètiatlon At l January 2024 Charge In year On disposals Prior year adjustment 521,893 11,752 198,1501 1223,7301 12,940 534,833 11,752 198,1501 1223,7301 508,445 26,390 At 31.December 2024 211,765 12,940 224,705 534,835 Net book value At 31 December 2024 196,023 375,832 571,855 797,627 Page 20
The Template Foundatlon Notes to the Financlal Statements for the Year Ended 31 December 2024 (continued) 15. Restatement of prlor year balance5 Land and buildings freehold were not shown seperately in the accounts for the year to 31 December 2023 and earlier, with depreciation being charged against the cost of both. The costs were not separated on acquisition of either property and, as such, the trustee5 have agreed that a split of 60% land and 40% buildings should, therefore, be used. The cost of the land is now shown separately from the buildings and this has given rise to an overstatement of depreciation in prior periods of £223,730. This amount has been adjusted through the accounts by way of a prior year adjustment, increasing general unre5trticted funds accordingly. 16. Debtors Unaudited and Restated Total Total 2024 2023 Other Debtors 7,105 8,411 17. Current asset investments Unaudlted and Restated Total Total 2024 2023 Listed other shares and cash investments Cost At l January 2024 Increase in investments Increase in value of shares held Interest 14,351 1,413,$64 26,897 13,167 12,786 1,565 At 31 December 2024 18. Creditors: amounts falling due within one year Unaudited and Restated Total 2023 Total 2024 Other creditors and accrued income Other taxation and social security Accruals 180,000 1.712 17,802 1,712 2,942 Page 21
The Template Foundation Notes to the Flnancial Statements for the Year Ended 31 December 2024 {contlnued} 19. Funds Balance at I January ' 2024 Prior period adlustment Balance at 30 December 2024 Incoming resources Resour$ expended Unrestrirted Funds General Designated 1. 720,674 1829.0171 1,420,156 170,378 1115,2231 1163,4981 223,729 3,249,336 1822,1371 Total Funds 891,657, 1,590,534 1278,7211 223,729 2,427,199 Unaudited and Restated Total at 31 December 2023 Balance at I January 2023 Incomlng resources Resources expended Unrestricted Funds General Designated 1,721,755 1786,0051 87,525 136,150 188,6061 1179,1621 1,720,674 1829,0171 Total Funds 935,750 223,675 1267,7681 891,657 20. Analysis of net assets between funds UnrestrirtÈd funds General 2024 Unaudited and Restated Totsl Funds 2023 Total Funds 2024 Tangible fixed assets Current assets Current liabilitie5 Creditors over one year 571.855 1,859,998 14,6541 101 571,855 1,859,998 14,6541 101 797,627 293,544 1199,5141 101 Asatl January 2024 Asat31 December 2024 Cash Ilow Cash at bankand in hand Current asset investments 270,782 14,351 114,132 1,453,628 384,914 1,467,979 Total funds Page 22
The Template Foundation Notes to the Financial Statements for the Year Ended 31 December 2024 (contlnued) 20. Analysis of net assets between funds (continued) Unaudlted and Restated Total Funds 2023 Asatl January Z023 Cash flow Cash at bank and in hand Current asset investments 91,917 12,786 178,865 1,565 270,782 14,351 Total fvnds Page 23
The Template Foundation Detailed Statement of Financial Activities for the Year Ended 31 December 2024 (arranged be site) Waunlfor Barnet Central Total Income and Endowments from.. Donations and legacles Government Grants Charitable activities Investment income Other actlvlties 47,369 89,542 136,911 34,615 666 41,323 18,606 35,281 41,323 1,377,019 34.100 1.324,313 Totsl Income 116,084 1,324,313 150,137 1,590,534 Expendlture on: Wages and Salaries AL¢ditor5' remuneration Legal and professional fees Rates and water Llght, heat and power Insurance 137,6111 101 101 12,3781 125,1621 18,4841 141,9021 117,1181 101 110,5241 13,0951 15,4701 12741 111,7521 101 101 101 101 101 101 101 101 101 101 101 101 101 101 180,3091 13,4401 15,7241 19321 12,4971 15661 11461 18,0901 101 101 111,5861 18661 17951 101 1117,9201 13,4401 15,7241 13,3101 127.6591 19,0501 142,0481 125,2081 Repairs and maintenance Premises costs Telephone and fax Caterlng Sundry expenses Event costs 110,5241 114.6811 16.3361 11,0691 111.7521 Bank charges Depreciation of assets Total Expenditure 1163,7701 0,0 1114,9511 1278,7211 Net lexpenditurellincome 147,6861 1,324.313 35,186 1.311,813 IThis page does not form part of the statutory report) Page 24