REGISTERED CHARITY NUMBER: 1157095 Report of the Trustees and Independently Examined Unaudited Account for the Year Ended 31 December 2020 for TORE'S FOUNDATION Caroline A Vickery FCA Chartered Actountanls 14lÈalden Fa￿n, ParrcKk Lane, Hartfield East Sussex TN7 4AT TORE'S FOUNDATION Contents of the Accounts For the Year Ended 31 December 2020 Page Report of the Tnjslees Independent Examiner's Report Receipts and Payments AC￿untS Statemenl of Assets and Liats'lities TORE'S FOUNDATION Report of the Trustees For the Yex Ended 31 December 2020 The trustees of the chanty present their report wrth the accA)unts ofihe charity for the year ended 31 December 2020. The accounts have been prepared on a Receipts and Payments b8sis in accordance with section 133 of the Charities Act 2011. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number 1157095 Principal Address 12 Albert Place London W8 5P0 Trustees Mr Robert Eikeland Mrs Amanda Slowe Lady Sawers Mrs Marlene Snell STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is conlTolled by rts goveming document. a deed of trust. and constrtules a Charitable Incorporated Organisation. Recruitment and appointmenl of new trustees The existing Irustees resolve to appoint truslees. No Trustee received any remuneration in Tespect of services to the chaTty- OBJECTIVES AND ACTIVITIES Objectives and aims The chaTitable company s objedives are the furtheran￿ of such exclusively charitable purposes as the trustees shall determine and, In particular Tore's Foundatiors empowers young people lo develop their critical thinking and discover their voice through debate in order to transform their communilies and engage politically." to thange and expand their outlook with regard to the possibilities ol democratic politics, and to encourage their Interest and participation. TORE'S FOUNDATION Report of the Trustees continued FortheY83rEnded 31 December 2020 Charitable activities and public benefit The charity currently operates in the Western Cape. South Africa, where. in normal times. it runs debating classes in underprivileged high schools, supports young people in finding internships in journalism, law and advocacy organisations and holds regular inter-school debating competitions. It also encourages young people who have dropped out of education back into learning through debating and tailored confidence building courses in partnership with Communiversity. During the Covid-19 pandemic it has promoted on-line debating which it intends to continue developing. ACHIEVEMENT AND PERFORMANCE Operations The charity established Tore's Africa Foundation, a South African NGO, lo run its programme in South Africa, under the guidance of the eharity's trustees. The charity's sole activity is, therefore, the funding of Tore's Africa Foundalion, which is registered as a Public Benefit Organization and files ils own accounts wrth the South Afncan Revenue Service. Main achievements The charity, through its funding of Tore's Afn'ca Foundation, has been operating in Cape Town, SoLrth Africa, where debating clubs and. since the Covid-19 pandemic, on-line debaling groups are flourishing, local communrty relationships have been established and promising studenls are being given Ihe opportunity lo undertake internships and to go to university. A dose association has been established with the University of Stellenbosch Business sch￿1, which has adopted Tore's Africa Foundation as its chosen social impact charrty, an association that has been hugely helpful and rewarding both financially and reputationally. FINANCIAL REVIEW Reserves policy The charity have a sw*reserve policy. Going concern The accounts have been prepared on the going concem basis as ongoing support is being provided by the Kavli Trust. ON BEHALF OFTHETfiErE&" Amanda Slowe - Trustee Marlene Snell - Trustee Date of approval.. TORE'S FOUNDATION Independent Examiner's Report to the Trnstees of Tore's Foundation I report to the trustees on my examinalion of the accounts of Tore's Foundation for the year elided 31 December 2020 Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance wlh Ihe requirernenls of the Charities Act 2011 ('the Act,). I report in respect of my examination of the TTUSt's accounts carried OLrt under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515}Ib) of the Act. Indeperjdent examiners stalement I have completed my examination. I confirm that no material matters have come to my attention in connection ￿￿th the examination. giving me cause to believe that in any matefial respect". accounting records were not kept In respect of the Trust as iequired by section 130 of the Act.. or the accounts do nol accord with those records. I have no concerns and have come across no other matters in connection with tle examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. CAROLINE A VICKERY FCA Member of the Institute of Chartered Accountants Wealden Farm Parrock Lane Hartfield East Sussex TN7 4AT Date.. 6 October 2021 TORE'S FOUNDATION Receipts and Payments Accounts For the Year Ended 31 December 2020 2020 Unreslricled Funds 2019 Unre5tFlCted Funds RECEIPTS Voluntary receipts Grant from Kavli Trust Donalions 123.573 NIL 169,653 6,252 123,573 175,887 Asset and investment sales Short term advance by trustee NIL 4.797 Total receipts 123.573 180684 PA YMENTS Generation of voluntary receipts Marketing materials, aftsvork and printing NIL 126 Charitable activities Direct grants Grants to projects Project support 74,361 5.907 91,856 4.178 Governance costs Accovntancy and bookkeeping Professional fees Trustee supervisory expenses Monitoring and evalualion Strategy and management support 1,325 NIL 4.630 NIL NIL 2746 NIL 5.509 NIL 3.000 Support costs Finance Bank and other charges Other Recoverable expense5 New website support NIL 72 330 391 NIL Nll. Asset and investment purchased Repayment of Iruslee's short-temi advance Repayment of long-letm loan Asset and investment purchased NIL NIL 14.066 Total payments 101.010 118.178 Retmbursed on 6 March 2021 TORE'S FOUNDATION Receipts and Paymenls Accounts For the Year Ended 31 December 2020 Net recelptsl(payments) Cash funds last year end 22.563 71,471 62,506 8,965 Cash funds thls year end 94,034 71.471 TORE'S FOUNDATION Statement of Assets and Liabilities at the end ol the year At 31 December 2020 2020 Unfestricted Funds 2019 Unrestricted Funds CASH FUNDS Re￿iptS and Payments Account.. Cash in bank Cash held on Irust by Tores Africa FOundat￿n 94,034 NIL 71,471 NIL OTHER MONEfARY ASSETS NIL NIL INVESTMENT ASSETS NIL NIL ASSETS RETAINED FOR CHARITY'S OWN USE (Desigfi and development of website)". New website (Equipment for projects). Held on trust by Tores Africa Foundation 6,097 894 8.863 NIL TOTAL ASSETS 108,994 72,365 LIABILITIES DUE IMMEDIATELY (NIL) {NILI FUTURE LIABILITIES Loans (10.0001 {10,0001 NET ASSETSIILIA81LITIES) £98,994 £62,365 ONBE ALF OFTHE IIiMES: Amanda Slowe- Trustee mar￿ne Snell - Trustee Date of approval= liepaid eady on l March 2021 ènd thecreditor waived iniere5t