Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
REGISTERED COMPANY NUMBER: 04535983 (England and Wales) REGISTERED CHARITY NUMBER: 1095285
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2024
for
Toni & Guy Charitable Foundation Limited
Johnston Wood Roach
24 Picton House Hussar Court Waterlooville PO7 7SQ
Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Contents of the Financial Statements for the Year Ended 31 August 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Report of the Trustees for the Year Ended 31 August 2024
The trustees who are also directors of Toni & Guy Charitable Foundation Limited (the Foundation) for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Governing Document of the Foundation, the Memorandum and Articles of Association, sets out the objectives of the Foundation which are principally to support such charitable purposes as the trustees shall from time to time determine and the relief of poverty and sickness of employees of Toni & Guy.
Grantmaking
The trustees meet regularly to consider what grants they will make and to review any feedback they have received. Nominations for grants are generally elicited by informal means and include input from the Toni & Guy networks of hairdressing salons.
ACHIEVEMENT AND PERFORMANCE
Achievements and Performance for the public benefit
The year ended 31 August 2024 was the twenty first year of the Charity's existence.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives and in planning future activities.
Total donations to the Foundation in the year are reported in the Statement of Financial Activities on page 6. During the year, the Foundation's income was limited to donations from companies and individuals.
The Board of Trustees will continually review the Foundation's activities and opportunities available to the Foundation.
Fund raising activities recommenced during the year with events held in December 2023 and June 2024.
FINANCIAL REVIEW
Financial Review
During the year, the Foundation generated incoming resources of £60,016 (2023: £621) and this was primarily generated by the two fund raising events referred to above. Tickets to attend the events were sold in advance and donated items were auctioned and raffled.
Investment policy and objectives
Under the Memorandum and Articles of Association, the Foundation has the power to invest in any way the trustees wish.
The trustees, having regard to the liquidity requirements of the Foundation and to the reserves policy, have operated a policy of keeping available funds in an interest-bearing deposit account.
Reserves policy
The unrestricted funds are expendable at the discretion of the Board of Trustees in furtherance of the objectives of the Foundation.
The trustees aim to keep reserves to a minimum in order to ensure that most of the income generated is distributed. To do so, the Foundation operates on minimal overheads with many services and facilities provided by Mascolo Limited. A reserve will be maintained to cover unforeseen costs.
The trustees have therefore determined that the free reserves shall be maintained at a minimum of at least £4,500. The current free reserves at 31 August 2024 are £10,454 (2023: £7,562). Amounts held in restricted reserves were £28,104 (2023: £0).
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Report of the Trustees
for the Year Ended 31 August 2024
FINANCIAL REVIEW
Going concern
The trustees are comfortable that the Foundation has sufficient funds to cover its costs and commitments for the foreseeable future as no grants have been made during the year so cash at bank was at £56,236.
FUTURE PLANS
The Trustees decided in 2023 to focus the majority of the Foundation's fund-raising efforts on supporting the Toni & Guy Ward at King's College Hospital in London and this continues to be the prime objective. To that end, a donation to the King's College Hospital Trust of £37,500 was made in November 2024.
It is hoped that fund raising activity will come principally from external charitable events to support the Foundation's plans.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Governing Document of the Foundation is its Memorandum and Articles of Association dated 3 July 2002. The company, limited by guarantee, was incorporated on 16 September 2002. It is registered with the Charity Commission (registration date 8 January 2003 and number 1095285).
Recruitment and appointment of new trustees
The governing body is the Board of Trustees. The trustees have control of the Foundation and its property and funds.
Trustees are appointed by the existing trustees of the Foundation. The existing trustees seek new trustees and if suitable introduce them to the existing board. On appointment, the process is explained to new trustees and they are acquainted with the current position.
Decision making
The trustees meet regularly throughout the year to consider grants to be made, existing fund raising and current reserves and risk management policies and performance. The day-to-day administration is delegated to the company secretary and his support staff.
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Report of the Trustees for the Year Ended 31 August 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a risk management strategy which comprises:
-
an annual review of the risks the charity may face;
-
the establishment of systems and procedures to mitigate those risks identified in the plan; and
-
the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise
This work has identified the following principle risks that affect the foundation:
1) lack of funding;
2) failure of investment;
3) fraud and embezzlement;
4) IT/Cyber hacker attacks; and,
5) impact of the COVID-19 virus
The board of the Foundation has attempted to mitigate these risks in the following manner:
1) No donations or commitments to make donations are made without first having:
(a) raised and received the appropriate funds; or
(b) having received a loan, or funding commitment, from Mascolo, or one of the directors beforehand - The board monitors income and expenditure, commitments and likely future income on a quarterly basis.
2) All funds are invested in deposit taking institutions covered by the Financial Services Compensation Scheme (FSCS) and such deposits are kept below the FSCS threshold of £85,000. If any institution in which the Foundation has deposited funds fails, those funds would be returned in time by the FSCS.
3) Because cash collection is carried out by employees of Mascolo's salons or those of Mascolo's franchisees, the Foundation is reliant on the integrity of those employees, although the risk is mitigated by the fact that the sums involved are relatively small. Cheque signing authority lies with two Foundation director trustees and not with the Foundation's employees.
4) The Foundation relies upon Mascolo's IT system and the security systems in place there. Having spoken to the relevant employee(s) of Mascolo, it appears that all relevant security is in place to protect against this risk.
5) The Trustees will ensure that any activities undertaken comply with Government legislation and advice in place at the time of any fund raising events.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04535983 (England and Wales)
Registered Charity number
1095285
Registered office
58-60 Stamford Street London SE1 9LX
Trustees
R W L Berrow Finance Director P F Jukes Consultant P P Mascolo Actor Mrs P R Mascolo Director S Melhuish-Hancock Lawyer Mrs L I Mascolo Company Director/ Marketing Strategist
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Report of the Trustees for the Year Ended 31 August 2024
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
R W L Berrow
Independent Examiner
Kate Wood FCA FCCA Johnston Wood Roach 24 Picton House Hussar Court Waterlooville PO7 7SQ
30 June 2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ 2182C589FDC747A... R W L Berrow - Trustee
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Independent Examiner's Report to the Trustees of Toni & Guy Charitable Foundation Limited
Independent examiner's report to the trustees of Toni & Guy Charitable Foundation Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Kate Wood FCA FCCA
Johnston Wood Roach 24 Picton House Hussar Court Waterlooville PO7 7SQ
Date: .............................................
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Statement of Financial Activities
for the Year Ended 31 August 2024
| 31.8.24 | 31.8.23 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 4,910 | 54,947 | 59,857 | 600 | |
| Investment income | 2 | 159 | - | 159 | 21 |
| Total | 5,069 | 54,947 | 60,016 | 621 | |
| EXPENDITURE ON | |||||
| Raising funds | 3 | 960 | 26,843 | 27,803 | 1,139 |
| Charitable activities | |||||
| Grants | - | - | - | 19,652 | |
| Other | 1,217 | - | 1,217 | - | |
| Total | 2,177 | 26,843 | 29,020 | 20,791 | |
| NET INCOME/(EXPENDITURE) | 2,892 | 28,104 | 30,996 | (20,170) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 7,562 | - | 7,562 | 27,732 | |
| TOTAL FUNDS CARRIED FORWARD | 10,454 | 28,104 | 38,558 | 7,562 |
The notes form part of these financial statements
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Balance Sheet
31 August 2024
| 31.8.24 | 31.8.23 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank | 12,254 | 43,982 | 56,236 | 9,362 | |
| CREDITORS | |||||
| Amounts falling due within one year | 6 | (1,800) | (15,878) | (17,678) | (1,800) |
| NET CURRENT ASSETS | 10,454 | 28,104 | 38,558 | 7,562 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 10,454 | 28,104 | 38,558 | 7,562 | |
| NET ASSETS | 10,454 | 28,104 | 38,558 | 7,562 | |
| FUNDS | 7 | ||||
| Unrestricted funds | 10,454 | 7,562 | |||
| Restricted funds | 28,104 | - | |||
| TOTAL FUNDS | 38,558 | 7,562 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2025 ............................................. and were signed on its behalf by:
............................................. R W L Berrow - Trustee
The notes form part of these financial statements
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Notes to the Financial Statements
for the Year Ended 31 August 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
The accounts represent the company as an individual entity.
Accounts have been rounded to the nearest pound.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Expenditure is accounted for on an accruals basis.
Grants payable are recognised as expenditure when the conditions for their payment have been met or where there is a constructive obligation to make a payment.
Fundraising costs
The costs of generating funds are those costs directly attributable to generating income for the charity.
Charitable activities
Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objectives of the charity, including grants made and an apportionment of overhead and support costs.
Governance costs
Governance costs comprise all costs incurred in ensuring public accountability of the Charity and its compliance with regulation and good practice. Governance costs have been allocated in line with all other support costs.
There is the Independent Examination fee of £1,200 included within the Legal and Professional fee cost in the accounts.
Allocation and apportionment of support costs
Support costs are those costs which do not relate directly to a single activity and have been apportioned between fundraising costs, charitable activities and governance costs.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds are to be used to support the Toni & Guy ward at King's College Hospital London.
Judgements and estimation uncertainty
There are not considered to be any key judgements or areas of estimation uncertainty involved in the preparation of the accounts.
continued...
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
2. INVESTMENT INCOME
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.8.24 | 31.8.23 | ||
| £ | £ | ||
| Deposit account interest | 159 | 21 | |
| 3. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.8.24 | 31.8.23 | ||
| £ | £ | ||
| Fund Raising Expenditure | 26,843 | - | |
| Support costs | 635 | 1,127 | |
| 27,478 | 1,127 | ||
| Investment management costs | |||
| 31.8.24 | 31.8.23 | ||
| £ | £ | ||
| Interest payable and similar charges | 325 | 12 | |
| Aggregate amounts | 27,803 | 1,139 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses claimed or paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 600 - Investment income 21 - Total 621 - EXPENDITURE ON Raising funds 1,139 - Charitable activities Grants 19,652 - Total 20,791 - NET INCOME/(EXPENDITURE) (20,170) - |
Total funds £ 600 21 621 1,139 19,652 20,791 (20,170) |
|---|---|
continued...
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 27,732 | - | 27,732 | ||
| TOTAL FUNDS CARRIED FORWARD | 7,562 | - | 7,562 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.8.24 | 31.8.23 | ||||
| £ | £ | ||||
| Trade creditors | (1) | - | |||
| Other creditors | 11,782 | - | |||
| Accrued expenses | 5,897 | 1,800 | |||
| 17,678 | 1,800 | ||||
| 7. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.9.23 | in funds | 31.8.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Unrestricted fund | 7,562 | 2,892 | 10,454 | ||
| Restricted funds | |||||
| KCH Fundraising Events | - | 28,104 | 28,104 | ||
| TOTAL FUNDS | 7,562 | 30,996 | 38,558 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Unrestricted fund | 5,069 | (2,177) | 2,892 | ||
| Restricted funds | |||||
| KCH Fundraising Events | 54,947 | (26,843) | 28,104 | ||
| TOTAL FUNDS | 60,016 | (29,020) | 30,996 |
continued...
Page 10
Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.22 | in funds | 31.8.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted fund | 27,732 | (20,170) | 7,562 |
| TOTAL FUNDS | 27,732 | (20,170) | 7,562 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted fund | 621 | (20,791) | (20,170) |
| TOTAL FUNDS | 621 | (20,791) | (20,170) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.22 | in funds | 31.8.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted fund | 27,732 | (17,278) | 10,454 |
| Restricted funds | |||
| KCH Fundraising Events | - | 28,104 | 28,104 |
| TOTAL FUNDS | 27,732 | 10,826 | 38,558 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted fund | 5,690 | (22,968) | (17,278) |
| Restricted funds | |||
| KCH Fundraising Events | 54,947 | (26,843) | 28,104 |
| TOTAL FUNDS | 60,637 | (49,811) | 10,826 |
continued...
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
8. RELATED PARTY DISCLOSURES
Trustee P P Mascolo is a director of Mascolo Limited and trustee P R Mascolo was a director of Mascolo Limited during the period. Trustee R W L Berrow was a Company Secretary of Mascolo Limited during the period.
Mascolo Ltd have paid for expenses totalling £13,581.50 during the year ended 31 August 2024.
The balance of £1,800.00 has been treated as a donation from Mascolo Ltd as it is not to be repaid.
The remaining balance of £11,781.50 was outstanding at the end of the year. This amount has been repaid in September 2024.
During the auction at the Christmas fund raising event, one of the auction items was sold to C F Mascolo for £2,000.
During the auction at the Summer fund raising event, on of the auction items was sold to S M Mascolo-Tarbuck fo £2,800.
9. STAFF COSTS
There are no employees of Toni & Guy Charitable Foundation Limited.
No employees have received emoluments in excess of £60,000.
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Docusign Envelope ID: 3598AA94-225B-4783-83E7-B0D043827129
Toni & Guy Charitable Foundation Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2024 | ||
| 31.8.24 | 31.8.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Fundraising Events | 54,947 | - |
| Donations | 4,910 | 600 |
| 59,857 | 600 | |
| Investment income | ||
| Deposit account interest | 159 | 21 |
| Total incoming resources | 60,016 | 621 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fund Raising Expenditure | 26,843 | - |
| Investment management costs | ||
| Bank Charges | 325 | 12 |
| Charitable activities | ||
| Grants to institutions | - | 19,652 |
| Support costs | ||
| Governance costs | ||
| Legal and Professional fees | 1,835 | 635 |
| Bank Charges | 17 | 492 |
| 1,852 | 1,127 | |
| Total resources expended | 29,020 | 20,791 |
| Net income/(expenditure) | 30,996 | (20,170) |
This page does not form part of the statutory financial statements
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