**Charity number: 1128441**
## **THE TAURUS FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
## **THE TAURUS FOUNDATION**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the charity, its Trustees and advisers**|1 - 2|
|**Trustees' report**|3 - 7|
|**Independent examiner's report**|8 - 9|
|**Statement of financial activities**|10|
|**Balance sheet**|11|
|**Notes to the financial statements**|12 - 19|
## **THE TAURUS FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Trustees**
Ms C Cook Ms A Clelland (appointed 6 June 2024) Ms K Ekers Mr A Felsenstein Mr D Felsenstein Mr R Felsenstein (appointed 6 June 2024) Mr A Fenton Mr D Fenton Mrs P Fenton Mr J Goodman Ms W Pollecoff Mr C Vermont
## **Charity registered number**
1128441
## **Principal office**
c/o Forsters LLP 22 Baker Street London W1U 3BW
## **Correspondent**
Cosmo Peach C/o Forsters LLP 22 Baker Street London W1U 3BW
## **Accountants**
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
## **Bankers**
CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Page 1
## **THE TAURUS FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Solicitors**
Forsters LLP 22 Baker Street London W1U 3BW
## **Investment Managers**
Investec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN
Page 2
## **THE TAURUS FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees present their annual report together with the financial statements of the charity for the 1 January 2024 to 31 December 2024.
## **Structure, governance and management**
## **a. Constitution**
The Taurus Foundation is a registered charity, number 1128441, and is constituted under a Trust deed dated 12 January 2009.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees, listed on page 1, who are appointed under the terms of the Trust Deed. New and additional Trustees may be appointed by Trustees as deemed necessary.
## **c. Policies adopted for the induction and training of Trustees**
There is a process of induction for new Trustees which includes meetings with current Trustees and the provision of key information.
Trustees undergo training at meetings, as and when needed.
## **d. Organisational structure and decision making**
Day-to-day management of the charity is undertaken by the Board of Trustees. The Board of Trustees typically meets two to three times per annum. Board members also meet through the year between themselves, and with management teams at grantee charities.
## **e. Risk management**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Objectives and activities**
## **a. Policies and objectives**
The Trustees have due regard to the guidance on public benefit issued by the Charity Commission when making grants to operational charities who themselves act for public benefit.
The objects of the Foundation are such exclusively charitable purposes as the Trustees may from time to time decide. It is recognised that the definition of what is 'charitable' according to English Law changes over time and it is intended that (whilst nothing should be done which is not exclusively charitable at the date that it is done) the objects of the charity should change in line with the laws of England, so that in the future things may be done (when they are charitable) which were not thought to be charitable at the date of the trust deed. The Trustees shall pay or apply or cause to be applied at such time or times and in such manner as the Trustees shall in their discretion think fit the income and, if, and in so far as, the Trustees shall think fit the capital of the charity in promoting the objects.
Page 3
**THE TAURUS FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Objectives and activities (continued)**
## **b. Grant-making policies**
The Trustees identify organisations that could benefit from funding and invite such organisations to provide relevant information in paper and through a meeting, to allow the Trustees to consider the organisations for funding carefully against specific criteria as set out by the Trustees in accordance with the charity's objectives. The funding discussions are therefore held without applications being made. Charities are selected and decisions are based on research undertaken by the Foundation.
In February 2016, the Board adopted a set of Guidelines for its grant making after reviewing the range of its activities since inception. The Trustees had from the start appreciated the benefits, both for themselves and their grantees, of specialising in a few areas of interest. The review enabled them more clearly to determine causes on which to focus. Following on from this analysis, they have been able to develop their knowledge, expertise and networks, which has in turn made it easier to identify and analyse possible candidates for grants, and, ultimately, enable the Trustees to make grants to those charities which they consider will deliver the most benefit in their selected areas.
The Trustees’ policy, in general, is to select the organisations which deliver real benefit in particular areas of need and then give them unrestricted grants, based on their proven ability to achieve success. As a result, although the Trustees appreciate that there is an enormous number of registered charities and a very wide range of needs they seek to meet, they do not, and will not, consider unsolicited approaches.
The Trustees recognise that these continue to be difficult times for charities, and remain conscious of the economic situation and its effect on charities, and their beneficiaries. They bear that in mind in considering the amount of each grant and whether it should be a one-off donation or part of a series of grants over a period of years.
Page 4
**THE TAURUS FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Achievements and performance**
## **a. Key performance indicators**
The Trustees make investment decisions and review investments in tandem with their grant making policy. Their instructions to their investment managers were to achieve a balanced return between income and capital at medium risk on a discretionary mandate over a period of 5 to 10 years. In light of the Coronavirus pandemic and the uncertain economic effects of Brexit, at the first Board meeting in 2020 the Trustees adopted a low risk investment approach. This policy was reviewed, with the Board continuing to adopt a low risk approach. The Trustees are satisfied the desired returns are being achieved.
Grants are made to charities out of a mixture of investment income and donations received (including Gift Aid) and, when other resources are not sufficient to cover the grants decided upon, out of capital, as is authorised by the trust deed.
The Trustees also aim to maintain the support costs of the foundation at a proportionately low level compared to grants made. The support costs for the year ended 31 December 2024 amounted to £31,438 which is 8.9% of overall grant expenditure (year ended 31 December 2023 £29,031 - 6.5%), which is considered to be satisfactory.
## **b. Review of activities**
In reviewing their activities for the year, the Trustees endeavour to consider the impact of their grants. As part of the development process in drawing up the Guidelines, the Trustees identified certain overarching themes or areas of interest. The Trustees are in particular interested in charities that manage to create benefit in two or more of these areas, which they call “double-hitting”.
The Board believes that developing its strategy for its grant allocations will, over time, enable it to streamline its giving, improve its research, make more effective allocation decisions, support monitoring its relationships and, ultimately, achieve maximum benefit. As stated previously, the Trustees do not consider unsolicited approaches.
During the period grants were paid to a number of different organisations, as set out in Note 7.
## **c. Investment policy and performance**
There are no restrictions on the charity's power to invest. The investment strategy is set by the Trustees who provide the investment manager with specific guidelines and certain restrictions. The general investment objectives are for a balance of income and capital growth.
The Trustees review the investment portfolio's performance at each Board meeting. Two of the Trustees liaise with the Foundation's fund managers throughout the year through meetings and correspondence.
The Trustees considered the Foundation’s approach to ethical and environmental investments and adopted a policy proposed by members of a sub-committee.
Page 5
**THE TAURUS FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The charity has significant unrestricted reserves covered by its investments and manages these funds to provide income to support the grants made in the year.
As the charity is not a service delivery charity, the Trustees do not believe that the obligation to maintain reserves at a specific level is appropriate.
## **c. Future developments**
The Foundation's aims for 2025 have been and continue to be to make grants in pursuance of the charitable objectives. The Trustees are grateful for the donations made by the Founders to date, demonstrating their commitment to the Foundation and to ensuring that it should have sufficient resources to fulfil its objectives.
The Board considers the current method of selecting, allocating and monitoring charities as appropriate for the current level of distributions. The Board discussed how charities might be researched, selected and monitored when the scale of the Foundation changes. The allocations would still be made in the proportions defined by the Funding document that will come into effect at that point, but the Board concluded that it was not appropriate for the current Board to define how the future Board should operate. The Board felt strongly that it would be detrimental to the current portfolio for a larger amount to be disproportionately allocated to one charity as a trial.
Page 6
## **THE TAURUS FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
## **Mr A G Fenton**
Date: 24 October 2025
Page 7
## **THE TAURUS FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Independent examiner's report to the Trustees of The Taurus Foundation ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Page 8
## **THE TAURUS FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Jennifer L Tolmie FCA
Dated: 28 October 2025
**Griffin Stone Moscrop & Co** Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 9
## **THE TAURUS FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Income from:**
Donations
2
Investments
3
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
**Total expenditure**
**Net expenditure before net gains on investments**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**2,000**
**23,151**
**25,151**
**7,536**
**386,438**
**393,974**
**(368,823)**
**45,347**
**(323,476)**
**1,074,949**
**(323,476)**
**751,473**|**Total**
**funds**
**2024**
**£**
**2,000**
**23,151**
**25,151**
**7,536**
**386,438**
**393,974**
**(368,823)**
**45,347**
**(323,476)**
**1,074,949**
**(323,476)**
**751,473**|Total
funds
2023
£
3,369
27,934
31,303
9,624
476,531
486,155
(454,852)
63,998
(390,854)
1,465,803
(390,854)
1,074,949|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 19 form part of these financial statements.
Page 10
## **THE TAURUS FOUNDATION**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Note**
**Fixed assets**
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**12,536**
**32,598**
**45,134**
**(14,666)**|**2024**
**£**
**721,005**
**721,005**
**30,468**
**751,473**
**751,473**
**751,473**
**-**
**751,473**
**751,473**|22,600
159,539
182,139
(13,318)|2023
£
906,128|
|---|---|---|---|---|
|||||906,128
168,821|
|||||1,074,949|
|||||1,074,949|
||||||
|||||1,074,949|
|||||-
1,074,949|
||||||
|||||1,074,949|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ **Mr A G Fenton**
## Date: 24 October 2025
The notes on pages 12 to 19 form part of these financial statements.
Page 11
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Taurus Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses are allocated to the applicable expenditure headings.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 12
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. Accounting policies (continued)**
## **1.4 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **1.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.10 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 13
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Income from donations**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||**£**|**£**|£|
|Donations (including tax recoverable)|2,000|**2,000**|3,369|
## **3. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Income from listed investments
22,949
Bank interest
202
23,151|**Total**
**funds**
**2024**
**£**
**22,949**
**202**
**23,151**|Total
funds
2023
£
27,750
184|
|---|---|---|
|||27,934|
## **4. Other incoming resources**
## **5. Investment management costs**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||**£**|**£**|£|
|Investment management fees|7,536|**7,536**|9,624|
Page 14
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure on charitable activities**
||**Grant**||||
|---|---|---|---|---|
||**funding**|**Support**|**Total**|Total|
||**(Note 7)**|**costs**|**funds**|funds|
||**2024**|**2024**|**2024**|2023|
||**£**|**£**|**£**|£|
|Expenditure on charitable activities|355,000|31,438|**386,438**|476,531|
## **Analysis of support costs**
|Administrator's fees
Office expenses
Accountancy fees
Independent Examiner's remuneration
Legal fees
Bank charges|**Total**
**funds**
**2024**
**£**
**23,750**
**564**
**2,529**
**1,686**
**1,801**
**1,108**
**31,438**|Total
funds
2023
£
20,001
595
2,412
1,605
3,240
1,178|
|---|---|---|
|||29,031|
## **7. Grant funding**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||**£**|**£**|£|
|Grants to organisations|355,000|**355,000**|447,500|
All grants made relate to the objects of the Charity. Grants were made to 42 organisations (2023: 44), ranging from £5,000 to £20,000 during the year to 31 December 2024 (2023: £5,000 to £70,000). The Trustees have taken exemption from disclosing the names of grant recipients as permitted under the Charities SORP reference 16.25.
Page 15
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. Trustees' remuneration and expenses**
During the year, fees totalling £23,750 (2023 - £20,001) were paid to one of the Trustees for the provision of administration services in addition to normal duties carried out by a Trustee of the Foundation. The nature and level of the fees is no more than reasonable in relation to the value of the services provided. No other remuneration or benefits were received by Trustees during the year.
During the year ended 31 December 2024, expenses totalling £564 were incurred by 1 Trustee on behalf of the Charity (2023 - £595 to 1 Trustee). Such expenses included travel, office and other sundry costs.
## **9. Fixed asset investments**
|**Cost or valuation**
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
**Net book value**
At 31 December 2024
At 31 December 2023|**Listed**
**investments**
**£**
**906,128**
**398,055**
**(626,093)**
**42,915**|
|---|---|
||**721,005**|
||**721,005**|
||906,128|
## **10. Debtors**
|**Due within one year**
Other debtors
Accrued income|**2024**
**£**
**11,793**
**743**
**12,536**|2023
£
21,878
722
22,600|
|---|---|---|
Included in other debtors is £4,826 (2023 - £12,237) relating to the investment capital account and £6,967 (2023 - £7,703) relating to the investment income account.
Page 16
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **11. Creditors: Amounts falling due within one year**
||**2024**|2023|
|---|---|---|
||**£**|£|
|Accruals|**14,666**|13,318|
## **12. Financial instruments**
||**2024**|2023|
|---|---|---|
||**£**|£|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**32,598**|159,539|
Financial assets measured at fair value through income and expenditure comprise Cash at bank and in hand.
## **13. Statement of funds**
## **Statement of funds - current year**
||||||**Balance at**|
|---|---|---|---|---|---|
||**Balance at 1**||||**31**|
||**January**|||**Gains/**|**December**|
||**2024**|**Income**|**Expenditure**|**(Losses)**|**2024**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General funds|**1,074,949**|**25,151**|**(393,974)**|**45,347**|**751,473**|
|**Statement of funds - prior year**||||||
||||||Balance at|
||Balance at||||31|
||1 January|||Gains/|December|
||2023|Income|Expenditure|(Losses)|2023|
||£|£|£|£|£|
|**Unrestricted funds**||||||
|General funds|1,465,803|31,303|(486,155)|63,998|1,074,949|
Page 17
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **14. Summary of funds**
## **Summary of funds - current year**
|General funds|**Balance at 1**
**January**
**2024**
**£**
**1,074,949**
Balance at
1 January
2023
£
1,465,803|**Income**
**£**
**25,151**
Income
£
31,303|**Expenditure**
**£**
**(393,974)**
Expenditure
£
(486,155)|**Gains/**
**(Losses)**
**£**
**45,347**
Gains/
(Losses)
£
63,998|**Balance at**
**31**
**December**
**2024**
**£**
**751,473**|
|---|---|---|---|---|---|
||||||Balance at
31
December
2023
£
1,074,949|
|**Summary of funds - prior year**||||||
|General funds||||||
## **15. Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Fixed asset investments
721,005
Current assets
45,134
Creditors due within one year
(14,666)
**Total**
751,473|**Total**
**funds**
**2024**
**£**
**721,005**
**45,134**
**(14,666)**|
|---|---|
||**751,473**|
Page 18
## **THE TAURUS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **15. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2023
£
906,128
182,139
(13,318)
1,074,949|Total
funds
2023
£
906,128
182,139
(13,318)
1,074,949|
|---|---|---|
## **16. Related party transactions**
During the year, donations totalling £2,000 (2023 - £2,000) were received from two Trustees.
Legal fees totalling £1,801 were payable to Forsters LLP, a firm in which Ms C Cook (a Trustee) is a partner (2023 - £3,240).
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