Company reglstratrA) numhr. 08871215 Gh¥rlty reg16trotim numbw. 1155742 The Top Charlty Limited {A comp8ry1Smlted ty guarantee) Armual Report Hnanclal Statemgnts for the Yr End 31 Decen*gr 2023 How$[8t0k8) LIMI Chartered Accountants Winton Housg Sloke Road Stoke on Tr& Stafford6hlr ST4 2RW
Tho Top Charity Llmlt•d Cont•nts Trusteos, rgwt 1to3 ountsrfs Repot Stat8nt of Flnanclal AcMI88 Balancè Sheet NoteB to1 Anar81 Slatsments 7t015
The Top Charlty Llrnlted Trustees. Report Tho Trustses, vtho are dlrgcl¢xs for the wrp06$ 01 Co)&Y law. pr989nt the annual report ILyther vAth the finandal 8talements of the ch8rkiable ¢ompany for tho yaar end1 31 Drfomber 2023. R•fer•n¢• and PdmlnlBtratlw D•t•ll6 Tfu•t••• OMRa99 M E Tomklns P Amlson PrIncIr offi Temeraire Hwse Nels Court Staffordshlre Technology Park Stafford stafftirdsNre ST18 OWQ R•91tsr Offlc8 Ternerolre ¢80 Nels Court Slaffcd8hlre TechrK4ogy Parf Staff( staffordshlre ST18 OWQ omyny R•glstratlon Numb•r 118871215 ChaTIty Ro916tratlon Numlx*r 1155742 AGGountant HOW8 (Stok81 Llmtted Charter&a AcCntants Winton House Stoke Road Stoke On Trent Staff1$h9 ST4 2RW Pgge 1
Tho Top Charlty Llmltod Trustees. Report (cont...) Structur•i 99vWnan and m•nym•nt Nature of governlrty document The charlty S¥ c(Stttuled as a company Ilmlted by guarBnl88 by Ft8 Memornndum and AFtlcles of Assodatlon. It18 o ¢harlty reglster&l wlth the Ch8ritth CoTrMn18810n. As set out in th8 Artk46$ of A$60c181h)n. truste68 are nomIn81 fj1gclb)rb at the Annual General Meellng (AGM) of the charty by 8xi#Ung Irugl8ès and member& The Board ofTw8ta88 ncrtinatss tho Chakpars¢)n of the Irusts86. At tho AGM, one thlrd of the Boar(I must r061w on rolayon. A rotlring Imst88 4$ 011gibl8 for wlecllon. ObJ•ctlves and actlvlile8 As 58t out In the Mgmor8ndum ofAF¥odaUon, tha ob1 of the charfty 18: . The rdlef of flnendal need and SLrfFerlng affDng CtImS of natural CY other klnds of dlsastsr In the fom) of morny lor Qthor moans daamad sult8bk) far pérsons. bodl8s. chadtles. organ160lton8 andlor countries . The rew and 8sdstsnGo of pwplo In any part of th& vKxJ who ara the vidims cl war or natural di8ast8r, troubb. or ¢&t8strophe in particular by Ihe of medlc&l akl to such Pen5 andlor ch8rllles 8nd cfganisatlon8 rkIng to relleve Ihe same., . Th8 prav8nlion or rallel of poverty by prDvkYlng.' gY8nts, Ilwns 8nd 8enAce8 to Indlvldu818 in newj andlor (oritie& or other Org8nl88tkx M)rking to prevonl or relleve poverty: • To as81 In suth way¥ 05 th8 Gharlty tru5t888 Ihink fit any charity r8gislered in England and Wa186 %%those alms Indude advarKing educatIC of perscffis by devdoplng Ihdr mgntal, Phl¢al and Or&I capablllues Ihr(XYJhI$Ure acliwties. Publlc benefit In shaplng r leCtiveS for the year and planning our acllvllle9, the Tnjslees hove con4dw8d the Charity Commi$onb gtsldance on publSc benefit. Th& tharlty is reuant on voluntary donations from memr of Top Online Partners Grwp knrnn8d. The donations are pakl ov&r lo the oharSty chosen by the Memb$. The tharrty has adopled The Money Charfty as 1r rr4in tharity in 2023. R•wv•• polky Dudng the year. tha trustaes rwlewad Ihelr r6s•Nes #i Ilne V•lth Chaty comissi Guvjdines. At tho year erKI. rgseNes amount&J to £21.862 all of vthlth are hdd forfulure charitable gr8nts. A¢hlov•rn•nts lfi th• yoar Dudng tha ar, th8 charlty has ganarated Incomè from donallon8 and ad86 of £143.46312022 - £41,879) a TopcashbAck rnI1,8 Mbarn and 8mpbyg08. Of th18. grants of £142,52112022- £24,119} have bg mad¢ In lin$ vAlh the ¢hadts oblectIv. P&ae 2
The Top Charity Lirnited Trustees. Report (cont ...) Pl•n¥ forth• fulw• The ch8rlty alms to contlnu8 w)8rating lund$ from Tcycashback Llmlted's mwnb8rs arKI 8mpl5 using these donallons to fund grants to variou$ ChalIeS in line with the oblectl¥•s. 81at•ment of Tru$t•M' Rvpon8ibiliti•8 Tru¥t••s' RoWl1b111IIOl In r•l•llon to th• ftnancial stat•m•nts Tha tNstee5 (vtho ar¢ also the dirxtors of The Top Chority Limit6d wrposes of company law) aro responsible for propadng the trustees, report and the fin8llcAal statements In e0rdents ¥th the Un Kingdom Accounting Stsndards {Unit8d Kingdom Genaraly Accepted AcCntIng Pracknl and 8pp&c8bl8 law and roJulation¥. Comp8ny18w r8quirg5 the tru8tèè8 to prepare flnanctal gtstements for each Ilnan¢Fo1 yeer. Under company law the trustee8 must Th)t approve the financlgl stsl0mts unlo88 thèy are 88tl8fi8d that thay gfve a true and f*ir view of the slate ol offalrs of tho Gh8rttablg company and of Its In¢omlng resources and applIcBIk of reUrceS, Indudlng Its Inc(>me and expendRurv. for that PgfiLKI. In preparing these fina181 ststemnts, the trustees are required to: ' sd8ct suitable JnIln9 polloes and £pY them conststsntly., ' c&8ervè I methods and prtnclple$ In thg Charit18s SORP: make I1geMents &)d 88timate6 thet are reasonabl6 and prudent ' 8tste whelher aPICable UK Aecounong Stsndards have been foi10d. subject to any materlal d8partures disdosed and exttslned In th& ffinanclal 6talemenls'. ond ' pr8pare th8 fin8nual 8tat8rnents on Ihg goirjg concem bas[8 unl986 11 Is Inappropdate to tnBurng that th¢ charft8ble ClpenY wll &tinue in bu8ines8. Thè truste88 are re8ponslbl8 for keeptng odequate accounung record8 that 8re sufficient to show and explaln the Charftab compan$ transacti6 and disdose with rnascffjabb aUracY al any time the fmandal posttlon of thg thadtablB ajmpany and enable them lo ensuft thèt the fm8ftcial statam8nts Comp valh the Companie6 Act 2008. They ore also respo[ble for safeguan11rYJ Ihe assets of the charitable eomp8ny and hence for taklng rgas¢nabk Steps for the prwentlon and doteclion of fraud and other Irrewlarilles. The annual r•wt was approved by the trusteès of the chaTIty on .. 201 and slgned on its behalf OMRagg Trustee Page 3
The Top Charlty Llmltad Chart•red Accountsnvs roport to tho truste6s on tho unaudited accounts of The Top Charlty Umlted In ac¢ordance vAlh the eng8gemenl lettw dated 24 July 2015, and kn ¢yder to a¥si8t to ftAIII yc4Jr duli08 under th6 Cunpanles Aot 2006, we hav8 comphad thg finals181aternents of the charity bthlch coryirw the Statement of Flnan¢io1 A¢lltIO$, and the re18ts0 notÈ6 fi(yn the 8ceounYng records and InforMaan and explanations have to us. Thts reFQrt is madg to the CharltV8 Board ol DItors, as a body. In accordance with the Ignns of ongagwent. Our has undertakon so that mlght complle th& finandal 818tements thst W8 ha b¢en engaged to compiie, roptft to the Ch8rllV8 Board of Dlraciors that we hav8 dcne 80. and stale thoso matter8 Ihal we have agreed lo stat6 to them In thls r&port and no other puw. To the ful extènt pemilited by law. we do not &cept 8S8urn8 rgsponslblllly to artyone olhar than the Charfty •nd the chari8 Board of Directors. 85 8 IW, for our or lor Ihis report. We have ¢wrt&l out thi8 8ngagm8nt In accordance Vth tschnlcal guldanc8 iswed by tho Inslllute ¢f Chartered Aecountants In Englond Wal88 and hav8 compli8d wlth the ethical guldtnce lald down ty the Institute relatlng lo rMberS Undertn9 the compilation of financial ststem8nts. You have ackntrthedg8d on the balance $heel as at 31 eMb 2023 your duty to ensure that Ihe charlty th88 kept proper accoUnn9 reLords and to prepare finan¢ial stat8ments that give a Iwe 8nd falr vlew under the CompanleB Act 2006. You CJ)nslder that th8 chority is exwN)I from the statut(ry requlrement for an audll lor tha ar. We have not been In8tuctsd to cany wt 8n aud of the finanG4al slalements. For thi¥ rea80n. have not verlfied the a3CY or COmpten0 of the accounlng reeThds c* infomialon and eWan8tion8 hav given to us and do not. Ihweforo, express ary opinlon on the fin8nc4818tat8ments. thJ&C/ Chgrtered ACCntaI Winton H¢u88 Stoko Road Stoke on Trent Staffordshlre ST4 2RW Date: Pagg 4
Th• Top Charlty Llmltad Statement of Flnanclal Actlvltlos for the Year Ended 31 Docomber 2023 (Includlng Income and Expenditure Account and Statement of Total Rocognis•d Galns and Loss•s) UnrMtrl¢t•d R•8trlct•d FurKIÉ funds Totsl 2023 Totsl 2022 Not• Income and Endowm•nts from.. DonAfjons and18gacies Investsnont IrKo 3.210 140,253 143.463 41,879 Totsl Inc(xne 3.210 140,253 143,463 41.879 Exyndlturn on: Charitab16 actlvttlos 3.425 3.425 139,304 139,304 142,729 142,729 24,358 24,358 Total expendllure Not Incomel lexpendlture) {215} 734 17.521 Trnnsfers betrween lunds Nèt movement In funds (215} 949 17,521 Reconclllatlon of fundB Totsl funds browJht fowrd Total funds c8rrled forward 14.K 21,862 21.128 Al ofthe charftys artNities derive from cMtinuing cperattons durfrrfJ the above two pertc¥J8. Thé fund8 breakdovm for 2023 18 in note 8. Page 5
Tho Top Charlty Limited (Reglstratlon numbor. 08871215) Balance She•t as at 31 Dac•mb•r 2023 2023 2022 Note Cwr•nl 0 Debtots Cesh at bonk in h8nd 15.0 6A62 21,882 21.128 21.128 Current Il•bllltles Ac¢ruals Not Gurr•nl aBBOts 21.862 Funds pf lh• charltr. Restrl¢ted fund8 I4.6 13.557 Unr•strf¢ted fvnd• Unrestrfcted funds Revalu8tkfi re8erv8 7,671 Tolal ureslrfcled funds Tolal funds 7,356 21,862 7.571 21.128 th8 finènctal year ending 31 Dgcember 2023 the charlty wa6 en11 to exemplon from 8udSt under sectlon 477 of the Comp&nles Act 2006 relatkng to small companie8. Dlre¢tors' r88ponslbllllle8 The member8 have not requlred the charfty to cbtaln an aL¥JIt of accounts for the yBar In qu05lon In acccidarK9 With 6eGYon 476: and . The dSre¢tws 8cknovlgdge their responsibilities fer Complrtg wltt) the requlrements of the Aet with respect to accountlng records and tho prep8ratson of acccunts. T1 accounts hav& bw pr8par•S in accOrri8n wlth Ihe provision$ applicable to corr(*ani88 subJ8Ct to $mall companies ragim8. The rm?cIal statem8nts pages 5 to 15 were ak¥roved by thg tru8tg88. and 8uthorlwJ for Is8U8 on 8nd slgned ¢)n thetr behalf by. OMRagg Trustee
The Top Charity Llmlt•d Notes to th• Flnanclal Stateménts for the Year Ended 31 Decemb•r 2023 1 Ch•rlty •t•tu6 The charlty Is a charity linitod by gu8rante8 and corwuenlly does not have share capitsl. Tho corryany IYd8 Incorporot8d In England and Wale8 and Is reglstered as number 08871215. Eath of Ihg trustees Is 1189 io contributo an amount nol exco8dlng £10 thfj a$86ts of the charlty tn th& event of liquthtion. 2 knuntlnp pollcl¢s Summary of 81onlflcant •¢courrtlng polici•s and kty •¢ndn0 ostlmat•s Th8 prfnGlpal accounting policies appli8d in the pr8paratlon of these financ1 stat&n8nts are aet out Lth. The80 poII¢K88 h8V8 con8lslgntty appl1 to tho years weggntgd, unlg8s Othe18e ststed. 8tat•m•Dt of complinc• The financial stgtements h8v6 bèen prepared in accordan¢e with ACCOlIng and Rgporling by Charftles: stat)nt of Recommended PraclKe apFAic8blg to charille8 prepadrrfJ their accounts In 8ccordance %Mth th¢ Finan¢i•l Reporfng Standaryl apfftabla in the UK and Rewbllc of Irgland IFRS 102) (effecti 1 Januwy 2015)- (ChaMe$ SORP (FRS 10211. the Fln8nckg1 Reporung Standard apF4lcable in the UK Reput4lG of Irdand (FRS 10218nd the Ccqnpanles Act 2006. Basls of prep110 The Top Charfty Llmltod rrwts the d8finiiion of a publlc banofft onyty under FRS 102. As6ets 8rn Itabiliti88 and initially recogni8ed at histcfical Cost or trafisa¢n value unle88 $lated in thfr rdevanl a¢Unng polity note8. Golng conrn The tTUStees consid8r Ihat Ihere 8re no mpterial unrkrt8ines 8boul tho ¢harW8 abllity lo continue as golng concem nor any slgnmGanl areas of uncertalnty that affect tho value of assets hgkj ty the d18rfty. Inwmg and •ndowm•nt$ All Income 1$ rewgnlsed once chaity h•s thlillemenl to the Inco. ft 1$ prob8bl8 that the income V•ill be rgCoiv8d and lh• amount of lh8 incom8 r8ceivable can be measured rdi8bty. Donations •nd l•gaclts Donations are recognised when the charrty has been notllled In vthtlng of both the 8mount and the 8ettlement datè. In the event that a dcatIon 18 8ubi8ct to condtbons that requlTe a level of pèrfoman¢g by Ihg charity before Ihe charlty Is entill8d to Ihe funds. the Innè is deferred and not recognlsed unul ètther Ihosg o)ndibon8 are fulty meL or the fvffOlm8nt of those condlUonB Is vknolly wlhln the control of the charlty and tt18 probable that these ¢ondltbns wll be fulfllW In the roporting periryl. ExpwKlltur• All expondilure IB feenISed (¥J¢e thwe 1$ a18gal or ConStrle obligation trj th8t expenditure,11 18 probabl• 80ttlement Is rgqulr8d and the amount can bg mga8ured r8Kably. All costs arè allocated to the applicable expendlture heading that aggregat8 slmil8r co8t8 to that catsgory. Wh•r9 costs cannot be dIrllY attrited to partiwl8r headings thgy h8ve beèn allocated on a bo818 conséstent i•Ath th& use of resouroes. wlth traI 8taff costs allocatJ on tha basL8 of Iwne spent. and depreciation charges alknated on the Fthon of the ¥$set'$ usa. Other 8UPPOrt cc6ts are allcthd based on the spread of staff cog Pag8 7
Th• Top Charity Llmlted Notes to the Flnanclal Statements for the Year Ended 31 D•comber 2023 2 •¢ounllng polle1 (aont...) Charllabh actlvltl•8 Ch8ritsble expenditure comprlses th086 costs In¢yJrr8d by th& charity in fhe d8tfftry of tls actlvitie$ 9nd s8Nlces for It8 befldarl68. 11 indude8 bcth costs that can b8 a11ccatl dlracty lo su¢h actSvltl8s and those C08ts of an Indlroct nature necessary to supp them. Grnnt wovl8loM Provisiong for grants are rrde when Iha IntenOn to makg a grant has be¢n communlcated to the r8cp'8nl but thwe18 uncertalnty about èlther the timing of tho &Tant or the 8mount of grant Posffjbb. Govomanco ¢o•ts Thgse Indude the c08ts 8ttrfbutsbb lo fhe thori1rf5 Gompliance cOrUl)nal and statutory requlrements, IUdIng audll, strategic managem8nl 8nd truBt88'8 me&lng 8nd r&imburd ex888. T4xatlon The charlty Is CSIder9d lo pas5 th& t8Bls sot out In Paragra 1 Sthdub 6 of the Flnanc6 Ad 2010 and therefwe tt meets the definilion of a charitabk? eornpany for UK coryM)ration tax purposes. Ard1n9ty. the ¢haiity 18 Potonalty exempt from tsxatlon In respect of Inco or copw galns rKeivgd wSlhln c818wrt88 covered by Chapt8r 3 Part 11 of tho Corp(ntion T8x Act 2010 or StIOn 256 of tho Taxallw of ChargeatAe Gaing Aet 1992, to the extent thal income or gau)$ ars applied exc4u8lV8ty to charitsbie purp05es. Trnd• d8btorn Trade dabtots 8r6 due frcth cu8lomer8 for m8rchand18e 8c4d or p6rformed in the cffdlnary CW88 of budneB8. Trade debtors ar8 rgnISed Inlllalty at th8 tranwlion pricé. They are sub¥wuenlty measured at nrtI88d tA)St u&ng the offecllve inl8re8t hCl. lass Provision for impaiTm&nl. A Pro810 ft)r the impaimlenl of trada debt0 is 8818blished when there 18 obiectN8 evidCe that the charity wil not be able to ccllect all amounts due aGcording to thg 1n81 twms of the receN8bles. Cash and cash •qulval•nl• Cash and c8$h equivalents comwlse cash cffi hand and call depodts. and othor short4orm highly liquid Investments that 8re readyy converlle to a known amount of oash and are subject to an in$iwlficant risk ot Change in valut. Borrowlngs Intsrast-bearfng b(XrAngS are InltSglly recorded at fair valug. net of tranwlth costs. Inler881-bearfn9 bt)thng$ arg subsgqugntty corrigd at amortis8d c05t. wilh Iho differenG8 behwn the pro¢eed8. n81 of tran8acllon c08ts. and tho amount duè on r•J8mptlon belng r8wgnis•J 98 a chargfj to the Slatemenl of Flnancial Activlties over th8 peri(hJ of rdevanl borros*ing. Intsr88t exp8nse 18 recognised on th• bas18 of th8 fjnler88t method #nd 18 induded in int8rBst payable and smiler charges. BOrrOwn ore dassifigd as current li8bllltles unless charlty ha5 an unconthtbnal to dgfer #ettlgmnt of the liability for at least Iwelve rrthlhs aft8r the reporttng date. Page 8
The Top Charity Limlt•d Notes to tho Financial Statomonts for th• Y•ar End•d 31 Dec•mb•r 2023 2 kcountlng polkles (cont...) Fund trUr Lknrastrlctsd Income fvnds are general fund$ Ih8t are avallable for u88 at the trusleo$ d18cralton In furtheran of the ct)lectlves of the Lbafity, Restrict8d intome funds are tho88 donatwJ for uso in parUcuLar 8r8a or ft Specific purpos8& use of whld)18 r88thcted to that are8 or pu00. Flnanclal In8trum•nts The charity only ha$ financial assets arKI finanrAal 1sHbiWtio¥ Df a nd that qual a8 basic financl81 InstnFm8nts. Basic financial inslruments arn Infla1 renised at tr¥n$8¢tion value 8nd 8re 8ubBequentty moasurgd at their g8tll8m•nt valu staff •nd Tru•tMs r•mun•r•tion Thwe were no $lJff costs incurr8fl during the ygar and no renwn8ratpJn or expengeo hgvo beon pald k> th8 TnJstèe8 in the year, 3 Income from don4tionB and l•gaci• Tota 2023 lund Funds 2022 Don$t5 and legacl Donat9 frDm indlvkJual8 Page g
The Top Charity Limlted Notes to th? Flnanclal Statements for th? Yoar Endod 31 Docombor 2023 4 Inv••tment incorno Total 2023 Total 2022 funds Fund8 Other Investment irrtorr 5 Exp•ndltur• on charftabl• actMtI•s Unmtrlctsd Rostrl¢t•d lund8 Fund• Ttytsl 2023 Totsl Grant funding of activitie5 Govemance costs. bank charg95 3,217 208 139,304 142.521 24.119 239 139,304 Pagg 10
ry*r élll Eè 111£555511111111111511111, & 51111 'Illilll,}liliii lalRSaliiiiiè
IOrthaJ 1 511.1i'Ji i EEB FFII lill 1151112111sli15151111111iiiil}ijliif 11 v)a&LLJ> 111111113151118iljiiii Iij¥}Iilil£liiliil!I
8[8{ Ill11.115 1111111115
Th• Top Charlty Llmited Notes to the Financial Statements for the Year Ended 31 December 2023 7 Flxed Aoset Inv••tm•nts Th8 Ma81 Val of these investm8nts Is £NI12022- £NIII D•tsll• of undèrtaking8 DetsllB ofthg Invgstmw)ts in the chadty holds 20% or more of nomlnal value ol any class of share capll81 aro 8s foUow8'. County of Incorporatlon Holdl votlng rlghts and Ufid•rtaklng A8soclat•s Pr141 actlvlty Top Medl8 Um1 UK Ordlnary Srs Dormant Ihobjing c(xnpany) Advarll8lng tyr 0 Topca8hback Ilndio) Prlv8t8 Umltod Indla Ordlnory Sharè$ Th• hdIng In Topca8hb8ck Ilndla) Prlvats Umlled 1$ ndireclly held throwh Top Mla Unlied. 8 Funds Oth•r r•¢ognlwl Bl•nco •t I Incomlng R•#ourc•8 98insJ B•l•Tre8 at 31 January 23 r•tsr¢ expond•d (lxs••) Tr•n•far• Otrnr 23 Unrajtrlctod lunds General R8vBluallon res0 7,571 3.210 {3.425} 7.356 7.571 3,210 {3.425} Re8trlct•d funds 13,557 140.253 (139,304) 14.506 T¢)tsl lunds 21,128 143.463 (142,7291 21.862 Other recognimd B•l•n¢• at 1 Incoming R•sources gains1 Balanc• at 31 Januwy 22 Mourc•• •xp•nd•d (Ioss•BI Transf•rs 0•mb•r 22 Unr•8trfciod lund• Gen8ral R8v8luatlon r8BeTV8 6.898 (989) 7.571 6.898 (989) 7,571 RoslrlGt•d fund¥ 34,981 {23,369) 13.557 Total fund• 3.607 41,879 24,358) 21,128 Page 14
The Top Charlty Llmlled Notes to the Flnanclal Statem•nts for the Y•ar Ended 31 December 2023 g Analy•ls of ng1 asmts b•tw••n funds funds funds Total fund8 Net current 888els 7.356 14.506 Page15