Charity Registration No. 1157079 TEMPUS NOVO TRUSTEES REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDING 28 FEBRUARY 2025
TEMPUS NOVO LEGAL AND ADMINISTRATIVE INFORMATION Trustees: Mr G Grant Sir C Forbes-Adam Mr H Pearson Mr P Cotton {Resigned 28 February 2025} MrT King Mrs Pauline Garnett {Appointed 12 August 2025) Charlty Number: 1157079 Prlnclpal Address.. PO Box 1660 Doncaster south Yorkshlre DNI 9YH. Independent Examlner: S & W Partners (Leeds) Limited Chartered Accountants 3rd Floor 56 Wellington Street Leeds West Yorkshlre LSI 2EE Bankers: Virgin Money Bank 7 Gold Street, Northampton, NNI IEN
TEMPUS NOVO CONTENTS Pa8e{s) Trustees, Report Independent Examinels Report Statement of Financial Activities 10 Balance Sheet 11 Statement of Cash Flows 12 Notes to the Accounts 13-18
TEMPUS NOVO TRUSTEE'S REPORT FOR THE YEAR ENDED 28 FEBRUARY2025 The Trustees present their report and accounts for the year ended 28 February 2025. The accounts have been prepared In accordance wlth the accounting policies set out in note I to the accounts and comply with the Charit¢s Constitution, the Charities Act 2011, and the Statement of Recommended Practice, "Accounting and Reportlng by Charitles" Issued in March 2005. Structure, Governance and Management th The Charity was established by a charitable trust deed 16 May 2014. The Charity is managed by a board of Trustees who have regular oversight of the activities of the Charlty, The Trustees recelve monthly report5 from the Treasurer as to the flnanc131 affalrs of the Charity. The day-to-day business of the charity is carried out by the Executive Team, who report to the Trustees on thelr actlvltles at the Charlty's regular Board Meetlngs. Whllst the Executlve Team sets the dlrectlon of the Charlty and have key responslblllty for the runnlng of Its actlvltles, no major declslon can be taken- as regards financlal matters- without the approval of the Trustees. The Charltws Presldent Is not a Trustee and does not slt on the Trustee Board but represents the Charlty In an honorary capaclty. None of the Trustees received any remuneration save for reimbursement for legitimate expenses. The Trustees who seNed durin8 the year were: Mr George Grant Mr Charlle Forbes-Adam Mr Henry Pearson Mr Paul Cotton Mr Thomas King Chairman Treasurer Trustee Trustee IResi8ned 28 February 2025) Trustee The Executlve Team who served during the yearwere: Mr Steve Freer Mr Valdemar Wawrosz Mr Richard Cowlishaw CEO Managlng Director Executive Dirertor (Resigned 28 February 2025)
TEMPUS NOVO TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2025 Introductlon from the Chalrman and the Founders This year has been a milestone for Tempus Novo, marked by grovrth, recognition. and measurable impact. Our mission remains clear.. to support people with convictions into sustainable employment. enabling them to rebuild their lives while contributing positively to society. In 2024125 we achleved our strongest results to date, with 252 indivlduals securlng sustalnable employment. Cruclally, only two < 2% returned to custody (data verlf led by M inistry of Justlcel and an average of one in flve secured promotions, highlighting the resllience, capablllty, and progresslon of those we support. Challenges These outstanding results have been achieved against a backdrop of significant challenges wlthin the criminal justice system. Pri50n5 remain at capacity, and in response the government h35 introduced disruptive measures such as early release schemes and extended electronic tagging periods. At the same tlme, probatlon servlces contlnue to struggle understaffed and therefore under Immense pressure. Despite this environment, Tempus Novo has demonstrated that with the right attitude, support and strong partnershlps, people leavlng prlson can transitlon successfully Into work. Our results hlghllght what Is posslble when ethlcal employers, hlgh performlng charStles, and fully engaged statutory partners collaborate with a clear focu5 on outcomes. Partnershlps We have contlnued to bulld relatlonshlps wlth ethlcal employers and were delSghted to welcome Ibstock, Amazon, Country Style Foods, and Pennlne Healthcare Into our partner network. Their engagement demonstrates that leading bu51nesses recognlse the dual value of inclusive recruitment both socla5 and commercial. Recognition and Support Tempus Novo was privileged to be chosen as Charity of Choice at the Yorkshire HR in Excellence Awards and to be selected, followlng a Dragons, Den-style process, as one ofseven charitles to beneflt from the York5hlre Charlty Clay Days fundraiser, whlch collectlvely ralsed over £500,000. In addltion, our collaboration with Sheffield Hallam Universlty was recognised through shortlisting for the Small Business Excellence Charter Awards. Innovation and Pllots Of particular slgnificance, we were approached by Dan Prlce, Pollce and Crfme Commlssloner for Cheshlre, to deliver a ploneerlng pilot in partnership with probation and the Department for Work and Pensions. Thls inltlatlve represents a major step in demonstrating the scalability of our model and Its potential national impact. Through this work we have developed a blueprlnt for growth that can be replicated across the other 36 Police and Crime Commissioner and Mayoral area5 in the UK. The potential of this model is con51derable.' if adopted natlonally, It could see more than3,500 ex-offenders moving Into employment each year, delivering an estimated savlng to the Treasury of over £100 mllllon annually. These savlngs are achleved through reduced reoffendin& fewer people claimlng benefits, and more individuals in work paying taxes. The wider benefits safer streets, stronger families, and more resilient communities extend far beyond the financial case.
TEMPUS NOVO TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2025 Ploneerlng Fundlng Model This year also marked the second year of our £200,0(K] Knowledge Transfer Partnership {KTPI with Innovate UK and Sheffield Hallam University. Through this programme. we employed a postgraduate researcher to explore and implement a more sustainable funding strategy for Tempus Novo. As a result, we have developed what we believe to be a UK first: a model where businesses pay a fee for the recrultment of people wlth convlctlons. Thls Is both ploneerlng and groundbreaklng, provlng that Inclu51ve recrultment can be flnanclally sustalnable while continuing to dellver soclal Impact. It stands as a testament to the brllllant team at Tempus Novo. whose commitment and innovation have turned this vision into reality. Sustalnablllty & ESG Sustainability is part of our DNA, and our business model is deliberately deslgned for long-term impact. We remain deeply committed to our Environmental, Social and Governance (ESGI policy and to adv3ncing the UN Sustsinable Development Goals. This year we introduced E-bikes at HMP Hatfleld, helplng to reduce emlsslons and Improve local transport optlons, and Invested In a new hybrid seven-seatervehlcle, enabling more people to attendjob inteNiews while reducin8 ourcarbon footprint. To embed th15 work further, we appolnted a dedlcated ESG lead wlthln our team to support the CEO In athlevlng our sustalnablllty alms. We Ilve and breathe our core values of belng personal, bespoke, and sustainable. and thi5 is reflected in our culture where kindness is at the heart of everything we do. Tempus Novo is a people-centric organisation: everyone is equal, everyone is a leader, and together we are an effective team. Internatlonal Collaboratlon Tempu5 Novo is also extending its reach beyond the UK, We are currentty engaged in Joint research with Sheffield Hallam Universityand George Mason University in Virginia, USA, with the aim of launching a pilot in the United States. This partnership underscores both the international relevance of our model and the global potentlal of employment-led approaches to reduclng reoffendlng. Sector Leadership We were honoured to act as after-dlnner speakers at hlgh-proflle events, most notably the UK Warehouse Association's annual conference, presenting directly to senior decision-makers from some of the UK'S largest108iStiC5 companies, Also featuring on national TV, local radio and podcasts has achleved a higher profile for the mission. These engagements are helping to influence business practice at scale and underline the role Tempus Novo plays a5 a thought leader In inclusive employment. Looklng Forward The achlevements of the past year underline that the TN model works employment transforms lives, strengthens communities, and reduces reoffending. With a stronger governance structure, an expanding network of committed partners, a pioneering funding model. a bold ESG strategy, and scalable blueprint for both national and international impatt, Tempus Novo is well positioned for the next stage of growth and Influence. l extend myslncere thanks to ourtrustees, partners, funders, and a small team of dedlcated staff who day after day must navigate a broken criminal justice system to achieve what are quite simply "life changing" results. Your continued Support ensures that Tempus Novo can deliver lasting impact creating opportunities, reducing crime, and contributing to a safer, more inclusive Society.
TEMPUS NOVO TRUSTEES REPORTICONTINUEDI FOR THE YEAR ENDED 28 FE8RUARY 2025 George Grant Chairman of the Board of Trustees Steve Freer Co-Founder and CEO Val Wawrosz Co-Founder and MD The Founders Tempus Novo was founded by Steve Freer and Val Wawrosz. Between them, Steve and Val have over 60 years, experience working with offenders in prisons the length and breadth of the country, most recently at HMP Leeds. They have a comprehenslve understanding of Offender Management havlng overseen both Integrated Offender Management units {IOM and Resettlement teams in Custodlal settings). Steve and Val are now recognlsed as Influential leaders on prlson reform and as such are now members of a select alliance working with the CSJ Centre For Social Justice on future Policy, they are also Leadership Fellows of St Georges House Windsor Castle where leaders from all sectors come together from across the Globe to effect change for the better in our Society. This is achieved by nurturlng wlsdom through dlalogue. Together with the Charity's President, former Cabinet Minister, and ex-offender Jonathan Altken, along with its Trustees, Tempus Novo also enjoys a strong relationship with both minister5 and officials at the Minlstry of Justlce and elsewhere Inslde Government. Presldent and Trustees Jonathan Altken- Presldent Jonathan Aitken is the President ofTempus Novo. Mr Aitken is a well-known author, broadcaster, ex- Cabinet Mlnlster, ex-MP, and ex-prlsoner. Through hls writlng, speeches and broadcastlng he has been a leadlng volce for the cause of rehabllitating offenders. His ground-breaking report 'Locked-up potential: A strategy for refomiing prisons and rehabilitating pri50ners' was published to widespread acclaim by the Centre for Social Justice ICSJI in 2010. It has slnce had a major impact on government policy and continues to influence the Tempu5 Novojourney. John Samuels-vlce Presldent His Honour John Samue15 QC h35 been the Chairman of the Criminal Justice Alliance since 2012. He was a Trustee of the Prisoners, Education Trust for 13 years. it5 chairman for 6, and is now its first President. He was previously a Circuit Judge {he sat in the Crown Court for a total of 27 years),. and 2025 had been Chairman of the Criminal Committee of the Council of Circuitjudges, where he ploneered Ilalson between the Council, Minlster5, and thelr officials. A long-term proponent of ludlclal monltorlng, he has wrltten and lectured on the toplc both In thls Jurisdiction and overseas for over 10 years. In January 2016 he was appointed by the Lord Chancellor and Lord Chief Justice to advise a current Working Group on problem-solving courts. He was a founder member of the National Sentencing Probation Forum until March 2012, when he also retired from the London Probation Forum, of which he had been a member for 10 years. He is a Trustee of the Howard League for Penal Reform.
TEMPUS NOVO TRUSTEES REPORTICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2025 BOARD OF TRUSTEES He is the Board member for England & Wales of the International Association of Drug Treatment Courts; andls Vlce President of both UNLOCK, the National Association of Reformed Offenders and of the Associatlon of Members of Independent Monitoring Boards. He is a Patron of prisoners, Advlce Servlce. Between 2005 and September 2015 he was ajudicial member of the Parole Board and visited prisons up to 3 times per week in that capacity. In 2012 he was appolnted a Visiting Professor at Nottingham Law school, focusing on sentencing and criminal justice issue5. He remains actively involved in the educational agenda of Lincoln's Inn, of which he has been a Bencher since 1990. George Grant (Chairman) George Grantjoined Tempus Novo as a Trustee In December 2015 and serves a5 Chalr of the Tempus Novo Trustees. Mr Grant Is a former foreign correspondent, policy analyst and Parliamentary candidate who now mana8es the estate at Stockeld Park. his famlly home. In addition to his legal responsibilities as Chairman. Mr Grant actively represents Tempus Novo in the public poll¢y arena, Including in the media, politics, and civil society. Mr Grant also serves on the Advisory Board of the mental health charlty& Mind Hong Kong. Charlle Forbes-Adam {Trusteel Charlle Forbe5-Adam lolned the Trustee Board In 2019 and brlngs wlth hlm a wealth of experlence on offender rehabilitation and the broader justice sector. Henry Pearson (Treasurer) Henryls a Chartered Accountant who spent the flrst part of hls career In professlonal servlces before movlng Into practice. After being introduced to Tempus Novo, Henry was struck by the large Impact that Tempus Novo has on the lives of ex-offenders and their families. Thomas Klng (Trusteel Tom is a retired Solicitor with 34 year5 of experience in private practice, where he supported varfous charitie5. Tom now work5 part-time focusing on governance for an educational charity. Since November 2022, he has chaired the Harrogate Arts and Mercer Gallery Development Trust, leveraglng hls firsthand knowledge ofthe Impart well-run charltles can have. Paullne Garnett (Trustee) Over 30 years in Human Resources, with about 20 of those years at C-suite level DS Smith PIC as Group HR Manager, key focus on integration of plants in Poland and Ukraine, along with multiple UK 51tes, dellverlng leadership tralning. Trustee experience includes Blrmingham and Black Country Community Foundatlon ended 2000, Archblshop of York Youth Leadershlp Trust (Archblshop John Sentamul ended 2021, and Samantha Sykes Foundation Trust- Supporting care leavers into further education and therapy interventlons for victims of chlld sexual exploltation (current slnce 20221.
TEMPUS NOVO TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 EXECUTIVE TEAM Steve Freer (CEO) Steve Freer is the CEO and co-founder of Tempus Novo. Mr Freer has worked in the criminal justice system since 1986. Startlng at HMP Wormwood Scrubs, he worked with some of the most notorious crimlnals In the UK. Since then, he ha5 managed a wlde range of projects In prlsons in the North of England. More recently he worked as Business Development Manager at HMP Leeds, and It was during this time he developed a successful model for rehabilitating ex-offenders based on employment. Keen to do more, Mr Freer decided to set upTempus Novo. Valdemar Wawrosz (Managlng Dlrector) MD Valdemarwawrosz is the Managing Director and co-founder of Tempus Novo. Mr Wawr05z has been working in the crimlnal justice system sin 1988, starting hls career working at HMYOI Huntercombe wlth young offenders and then moved to HMP Leeds In 1990 retlrlng from the seNlce In 2015. He has worked with every type of prisoner from remands to those serving a life sentence including some of the most difficult prisoners in the country. Mr Wawrosz passion for the rehabilitation of offenders was instrumental in the creation of Tempus Novo Crlterla Tempus Novo works malnly wlth male adult offenders who are lookln8 for a way out of crlme. We do not work with offenders who have convlctions forArson, Murder, or Terrorist or Sexual Offence5 If they demonstrate a good level of deslre to change, a good work ethlc Ilncludlng In custodyl and even better wlth a great personallty, then we will look to work with them. Referrals All ex-offenders at Tempus Novo are known as graduates to assist wlth their transitlon back into mainstream society. The referral process is kept simple and can consist of a phone call by the offender or the person nominatin& usually a probation officer, prison officer, police officer or another caseworker. Intervlew At interview, the offender must have the following.. Curriculum Vitae ID in the form of passport, Drlving Ilcense or blrth certificate Bank account Covenant (personal letter outlining thelr past and why they now want to changel Thi5 allows for a speedier service should we suddenly have a posltion become available. The interview setting and the way we interact Is key to putting the candidate at ease and forming a trusting relationship necessary for any level of success, should we decide to take them on to the program. It is done in such a way as to make our service personal and bespoke.
TEMPUS NOVO TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 A comprehensive risk assessment is carried out using prison and police intelligence to ensure as far as Is possible nothing can happen which could damage the reputation of the companies we work with. Once on our programme we support both employee and employerfora minimum of 12 months from the date of employment. ThÈ support consists of visits, phone calls and texts and is designed around the needs of both employee and employeras each case Is different. It Is the TN model people are attracted to, not slmply working with ex-offenders, and that wlth 11 years proof of concept, buslnesses want to be a part of the ecosystem we have created. Whllst It Is a good thing we do on a human level, the type of people we place make a difference to their bottom line and competitive edge offering advantages to both employer and employee. Employers worklng wlth Tempus Novo. We contlnue to work with a growing number of small to medium size Employers, as word gets out about how employing ex-offenders is good for business. One of our larger Employer5. GXO PLC, operate in the Lo8lStics Sertor which we have found to be appropriate and for most of our candldates thls Is sultable entry level work.170% of those In pr150n havlng Ilteracy and Numeracy levels of a 12- to 13-year-oldl We stlll work wlth a wlde range of Employers to facllltate as many of our candidates as possible including warehousing, window cleaning, wood scourin& en8ineeringi catering. construction, call centres, a broad spectrum of work. We are growlng organlcally due to referral buslness, and these Include global buslnesses such as A,P,Moller Maersk. Also, the companles we choose to work wlth offer routes for progresslon whlch Important for sustainable employment. Tempus Novo Funders In the perlod March 2024 to February 2025 Tempus Novo received Incometotalllng £492,935 of whlch £370,000 was from charltable donatlons, some of which are11sted below as foll0v. The Forrester Trust Henry Smith Trust The Harrison Trust The Bernard Sunley Trust The Charles Plater Trust DCR Allen Trust The HBJ Trust The Dulverton Trust Arnold Burton Trust Charles Hayward Trust £30,000 £60,000 £60,000 £40,000 £20,000 £ 30,CN)O £io,oJo £35.000 £ 5,000 £20,000 TOTAL £310,000
TEMPUS NOVO TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 How Tempus Novo has used the monles donated. Total expenses over the period totalled £604,265, of which £418,405 was accounted for as salaries paid to members of the Executive Team and employees. No salaries were paid to any Trustees, over thi5 reporting period. All other monies spent went to cover operating expenses, principally: Business plan consultancy costs Fund wrltlng applicatlon5. Deslgn, print work and webslte. Internet acces5. Telephones, x2 mobiles. Laptop computers, x4. Accountants, fee5.
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OFTEMPUS NOVO I report to thetrustees on myexamination ofthe accounts of Tempus Novoforthe year ended 28 February 2025, whlch comprise the Statement of Financial Activitie5, the Balan Sheet. the Statement of Cash Flow5, and the notes to the accounts, Including slgnlficant accounting policles. Respectlve respon51bilities of trustees and examiner and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirement5 of the Charltles Act 20111'the ACVI. I report In respect of my examlnatlon of the charlws accounts carried out under sectlon 145 of the Act and In carrylng out my examlnatlon I have followed all the appllcable Dlrectlons glven by the Charlty Commisslon under sectlon 14515llb) of the Act. Independent examinerfs statement Since the charit5 gross income exceeded £250,000 your examiner must be a member of a body listed in sectlon 145 of the Act. I confirm that l am qualified to undertake the examinatlon because l am a member of The InstStute of Chartered Accountants In England & Wales, which Is one of the Ilsted bodies. I have completed my examlnatlon. I conflrm that no materlal matters have come to my attentlon In connectlon wlth the examlnatlon 8lvlng me cause to belleve that In any materlal respect: accountlng records were not kept In respect of the charlty as requlred by sectlon 130 of the Act. or 2. the accounts do not accord with those records; or the accounts do not comply wlth the appllcable requlrements COnrnIng the form and content of accounts set out In the Charitles (Accounts and Reports) Regulatlons 2008 other than any requlrement that the accounts glve a true and falr view which Is not a matter consldered as part of an Independent examination. I have no concerns and have come across no other matters in connection wlth the examlnatlon to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Matthew Barton BA IHons} FCA cfA The Institute of Chartered Accountants in England & Wales S&W Partners (Leeds) Limited Chartered Accountants 3 Floor 56 Welllngton Street Leeds West Yorkshire LSI 2EE
TEMPUS NOVO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2025 Unrestricted Restricted fund5 funds Total 2025 Total 2024 Notes Incomln funds Donations and legacles Investment Income resources from enerated 86,117 1,118 310,000 396,117 1,118 412,677 1,392 87,235 95,700 310,000 397.235 95,700 414,069 115,500 Other Incomlng resources Total Incomlng resources 182,935 310,000 492,935 529,619 Resources ex ended Fundraising costs Charitable activities Governance & Support Cost5 81,856 173,910 53,793 81,856 468,616 53.793 78,004 448,911 26,010 294,706 Total resources expended 309,559 294,706 604,265 552,925 Net Income for the year/ Net movement In funds (126,6241 15,294 (111,3301 123,306) Fund ba5ances at l March 2024 203,701 89,852 293,553 316,859 Fund balances at 28 February 2025 77,077 105,146 182,223 293,553 -io-
TEMPUS NOVO BALANCE SHEET AS AT 28 FEBRUARY 2025 2025 2025 2024 2024 Notes Flxed assets Tanglble assets 23,518 16,773 Current assets Debtors Cash at bank and In hand 7,558 169,313 91,063 200,846 176,871 291,909 Credltors: amounts falllng due wlthln one year io 118,166) (15,129) Net current assets 158,705 276,780 Total assets less current Ilabilltles 182,223 293,553 Credltors: amounts fallln8 due after more than one year Net assets 182,223 293,553 Income funds Restricted funds 105,146 89,852 Unrestrlcted fund 77,077 203,701 182,223 293,553 The accounts were approved by the Trustees on 19 December 2025 Mr H Pearson Treasurer li-
TEMPUS NOVO STATEMENT OF CASH FLOWS AS AT 28 FEBRUARY 2025 Reconclliatlon of net surplus/(def icit) to net cash flow from operating activities 2025 2024 Net surplu5 for the reportlng perlod las per statement of financlal activities Depreclation charges Interest from Investments Ilncreasel/Decrease in debtors Increase/{Decreasel in creditors 1111,3301 12,083 1.118 83,SOS 3,036 123,3061 11,212 1,392 186.7841 10.025 Net cash provlded by/ lused In) operatln8 activltles (11,5881 187,4611 Cash flow from operatln8 actlvltles Net cash provlded by/ lused In) operatlng actlvltles (11,5881 187,4611 Cash flows from Investlng actlvltles: Interest from investments Purchase of flxed assets {1,1181 118,8271 11.392} 116,7851 Cash flows from Ilnanclng actlvltles: Staff loan Recelpt from staff 15001 172 Change In cash and cash equlvalents In the year 131,5331 1105,966) Cash and cash equlvalents atthe beglnnlng of the year 200A46 306,812 Cash and cash equlvalents at the end of the year 169,313 200,846 12-
TEMPU5 NOVO NOTES TO THE ACCOUNTS AS AT 28 FEBRUARY 2025 Accountlng pollcy Basls of preparation The financial statements of the charity, whlch is a publlc beneflt entlty under FRS 102, have been prepared In accordance with the Charities SORP {FRS 102) 'Accounting and Reportlng by Charlties: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance wlth the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effectlve l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost conventlon. Golng concern The flnanclal statements have been prepared on a going concern basls. The Trustees have revlewed and considered relevant Information In maklng thelr assessment. Given the measures that could be undertaken to mitigate the Current adverse conditlons. and the current reSoUrS available, the Trustees have concluded that they can contlnue to adopt the going concern basis in preparing the annual report and accounts. Income All Income Is recognlsed In the Statement of Flnandal Actlvltles once the charlty has entltlement to the funds, It Is probable that the Income wlll be recefved, and the amount can be measured rellably. Donated servlces or facllltles are recognlsed when the company has control over the Item, any condltlons associated with the donated item have been met, the receipt of economic benefit from the use of the company of the Item Is probable and that economlc benefit can be measured rellably. Interest recelvable Interest on funds held on deposlt Is Included when recelvable and the amount can be measured rellably by the company& thls Is normally upon notlflcatlon of the Interest paid or payable by the Bank. Expenditure Llabilltle5 are recognlsed as expenditure as soon as there Is a legal or constructlve obllgatlon commlttlng the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis ar)d has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activitle5 on a basis consistent with the use of resources. Tanglble flxed asset5 and depreclatlon Tangible fixed asset5 are stated at cost less depreclation. Depreciation is provided at rates calculated to write off the cost less estlmated resldual value of each asset over its expected useful life, as follows: Computer equipment Motor vehlcle 4 years 4 years Taxation The charity is exempt from corporation tax on its charitable activities. 13-
TEMPUS NOVO NOTES TO THE ACCOUNTS (CONTINUED} AS AT 28 FEBRUARY 2025 Fund accountlng. Unrestricted funds can be used in accordance wsth the charitable objectwes at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. Further explanation of the nature and purpose of each fund Is included In the notes to the financlal statements. Penslon costs and other post-retlrement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities In the period to whlch they relate. i.io Debtors Short term debtors are measured at transaction price, le55 any impairment. 1.11 Cash and cash equlvalent. Cash is represented by cash in hand and deposits with financlal institutions repayable without penalty on notlce of not more than 24 hours. Cash equlvalents are hlghly Ilquld Investments that mature In no more than three months from the date of acqulsltlon and that are readlly convertlble to known amounts of cash with Insignificant risk of chan8e in value. 1.12 Credltors Short term credltors are measured at the transactlon prlce. Donatlons and legacles Unrestrlrted funds Restrlrted funds Total 2025 Total 2024 Donatlons and glfts 86.117 310,000 396.117 412,677 Investment Income Total 2025 Total 2024 Interest receivable 1,118 1,392 other incomlng resource5 Total 2025 Total 2024 Service fees received. 95,700 115,500 95,700 115,500 14-
TEMPUS NOVO NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2025 Total resources expended Staff Depreclation Costs Other Costs Total 2025 Total 2024 Fundralslng Costs Charltable Actlvities Governance & Support 53,685 324,510 40,210 28,171 81,856 132,023 468,616 13,583 53.793 78,004 448,911 26,010 12,083 418,405 12,083 173,777 604,265 552,925 Trustees There were no trustees, remuneratlon or other beneflts for the year ended 28 February 2025 nor for the year ended 29 February 2024. There were trustees, expenses of £27812024 £2491 pald for the year ended 28 February 2025. Employees Beneflts The number of employees whose total employee benefits Including employer pension contributions were wlthln the followlng bands was: Employee benefits band £60,001-£70,000 2025 2024 Regular reviews are carrled out byTempus Novo to ensure staff have the rl8ht professlonal focus, strategic dlrectlon, and sector knowledge. The total employee benefits, Includlng penslon contrlbutlon of the key management personnel were £167,64912024- £152,461). Staff costs were as follow5: Employment Costs 2025 2024 Wages and salarles Termination costs Social Security costs Other pension costs 377,617 344,964 24,263 30,891 6,034 33,262 7,527 418,406 406,152 15-
TEMPUS NOVO NOTES TO THE ACCOU[S ICONTINUEDI FOR THE YEAR ENDEO 28 FEBRUARY 2025 Staff Number5 2025 No 2024 Support Governance Projects 12 li Tangible flxed assets Computer equipment Motor vehlcles Total Cost At l March 2024 Addltlons Dlsposal of assets 58,512 18,827 9,100 67,612 18,827 At 28 February 2025 77,339 9,100 86,439 Depreclatlon At l March 2024 Charge for the year Disposal 41,814 11,983 9,000 loo 50,814 12,083 At 28 February ZOZS 53,797 9,100 62,897 Net book value At 28 February 2025 23,542 23.542 At 29 February 2024 16,773 16,773 Debtors 20Z5 2024 Accrued Income Other debtors 88,750 2.313 91,063 7,558 7,558 10 Creditors: amounts falling due within one year 2025 2024 Accruals 18,166 18,166 15,129 15,129 16-
TEMPUS NOVO NOTE5 TO THE ACCOUNTS ICONTtNUED} FOR THE YEAR ENDED 28 FEBRUARY 2025 11 Penslon and other post-retlrement benefit commltments Deflned contributlon 2025 2024 Contrlbutlons payable by the company forthe year 7,527 6,034 12 Analysis of net assets between funds Unrestricted Funds Restricted Funds Total Fund balances at 28 February 2025 are represented by: Tanglble fixed assets Current assets 23,518 99,794 23,518 176,871 77,077 Creditors.. amounts fallin8 due within one year Creditors: amounts falling due after more than one year (18,1661 (18,166) 105,146 77,077 182,223 13 Movement In funds At 113124 Net movement In funds As 2812125 Unrestricted funds General f unds Restricted funds 203,701 89,852 1126,6241 15,294 77,077 105,146 Total funds 293,553 1111,3301 182,223 Net movement In funds, Included In the above are the followlng: Incoming resources Resource5 expended Movement In funds Unrestricted funds General funds Restricted funds 182.935 310,000 309,559 294,706 1126.624) 15.294 Total funds 492,935 604.265 (111,330) 17-
TEMPUS NOVO NOTES TO THE ACCOUNTS ICONTINUED} FOR THE YEAR ENDED 28 FEBRUARY 2025 14 Related party dlsclosures There were no related party transactions forthe year ended 28 February 2025. -18-