REGISTERED CHARITY NUMBER: 1157095 Report of the Trustees and Independently Examined Unaudited Account for the Year Ended 31 December 2021 for TORE'S FOUNDATION Caroline A Vickery FCA Chartered Accountsn15 Wealden Farm, Parrock Lane, Hartfield East Sussex TN7 4AT TORE'S FOUNDATION Contents of the Accounts For the Year Ended 31 December 2021 Page Report of the Trustees Independent Examiner'5 Report Receipts and Payments Accounts Statement ofAssets and LiabIl￿eS TORE'S FOUNDATION Report of the Trustees Forthe YevEnded 31 December 2021 The trustees of the charity present Iheir report wth the accounts of the charity for the year ended 31 December 2021. The accounts have been prepared on a Receipts and Payments basis in accordance with section 133 of the Charities Act 2011. REFERENCE ANDADMINISTRATIVE DETAILS Reglstered Charity Number 1157095 Principal Address 12 Albert Place London W8 5PD Trustees Mr Robert Eikeland Mrs Amanda Slowe Lady Sawers Mrs Marlene Snell STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The charity is controlled by its goveming document, a deed of trust, and consts'tules a Charitable Incorporated Organisation. Re¢ruilJnent and appointment of new trustees The existing trustees resofve to appoint trustees. No Trustee received any Temurieration in respect of services to the charity. 08JECTIVES AND ACTIVITIES Objectives and alms The charitable company's objectives are the furtherance of such exclusively charitable purposes a5 the trustees shall determine and. particular. Tore's Foundats'on empowers young people to develop their critical thinking and discover their voice through debate In order to transform their communities and engage politically.. to change and expand Iheir outlook ¥Mth regard to the possibilities of demociatic politscs. and to encourage their Interest and partscipation. TORE'S FOUNDATION Report of the Trustees continued For the Year Ended 31 December 2021 Charitable activities and public benefrt The charity currently operates in the Westem Cape. South Africa. where it njns debating classes in underprivileged high schools for students aged 15 to 18. Current affairs. politics and matters affecting democracy form the content of the debates. which is stimulab"ng. thought provoking and expands students horizons and general knowledge. Regular inter-school debating competitions are held The charity also encourages young people have dropped out of education back Into learning through debating and tailored cOnffiden￿ building courses in partnership with Communiversity. During the Cowd-19 pandemic the chanty prornoted on-line debating which it 15 continuing to develop in order to expand its reach across the Cape and eventually throughout South Africa. ACHIEVEMENT AND PERFORMANCE Operatlons The charity established Tore's Africa Foundalion, a South African NGO, to Tun its programme in South Africa, under the guidan￿ of the charty's Irustees_ The charity's sole acbvity is the funding of Tore's Africa Foundation, which is registered as a Publi¢ Benefit Organization and files its own accounts with the South African Revenue Service. Main achievements The chaTity, through its funding of Tore's Africa Foundation, has been operating in Cape Town, South Africa, where debating clubs and. since the Covid-19 pandemic, on-line debating groLtps are flourishing, local community relationships have been established and promising students are being given the opportunity to undertake internships and to go to university- A close associatson has been established th the Stellenbosch Business School. which has adopted Tore's Africa Foundation as ils chosen social impact charity. an association that has been hugety helpfvl and rewarding both financially and repulalionally. FINANCIAL REVIEW Reserves policy The charity dces not have a resep4e policy. Going concem The accounts have been prepared on the going COn￿M basis as ongoing support is being provided by the Kavli Trust. ONB HALF OF THE TrIA8TES: Amanda Slowe - Trustee Marlene Snell - Trustee Date of approval.. TORE'S FOUNDATION Independent Examtnerfs Report to the Trustees of Tore's Foundation I report to the trustees on my examinabon of the account5 of Tore's Foundation for the year ended 31 December 2021. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparats.on of the accounts in accordance with the requirements of the Chaiib'es Act 2011 {'the Act'i. I report in respect of my examinab.on of the Trust's accounts carried out under section 145 of the 2011 Acl and in carrying out my examination I have followed all the applicable Directions given by the Charity Comrni5sion under section 145151(b) of the Act. Independent examiners statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the exaEnination. giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act., or the accounts do not accord with those recor¢Js. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in ordei to enable a proper understanding of the accounts to be reached. .￿ FCA CAROLINE A VICKERY FCA Member of the Institute of Chartered Accountants Wealden Farm Parrock Lane Hartfield East Sussex TN7 4AT Date.. 29 September 2022 TORE'S FOUNDATION Receipts and Payments Accounts For the Year Ended 31 December 2021 2021 Unreslricted Funds 2020 Unrestricted Funds RECEIPTS Voluntary receipts Grant from Kavli Trust Donations 85.444 4,688 123,573 NIL 90.132 123.573 Other receipts Short tem advance by trustee Repayment of expenses Bank compensation NIL 330 15 NIL NIL NIL 345 NIL Total recelpts 90,477 123,573 PAYMENTS Generation of voluntary receipts Marketing materials, armiork and printing NIL NIL Charitable activities Direct grants Grants to projects Project support 48,064 NIL 74.361 5.907 Governance costs Accountancy and bookkeeping Professional fees Trustee supervisory expenses Monrtoring and evaluation strategy and management support 1.270 NIL NIL NIL NIL 1,325 NIL 4.630 NIL NIL Support costs Finance Bank and other Charges Other Recoverable expenses Websrte support Courier 23 NIL NIL 192 18 330 391 NIL Asset and investment purchased Repayment of trustee's short-temi advance Repayment of long-temi loan Asset and investment purchased NIL 10.000 NIL NIL NIL 14,066 Totsl payments 59,567 101,010 TORE'S FOUNDATION Receipts and Payments Accounts For the Year Ended 31 December 2021 2021 Unrestricted Funds 2020 Unrestricled Funds Net receiptslpayrnents 30.910 22,563 Cash funds last year end 94.034 71,471 Cash funds this year end 124,944 94.034 TORE'S FOUNDATION Statement of Assets and Liabilities at the end of the year At 31 December 2021 2021 Unrestricted Funds 2020 Unrestricted Funds CASH FUNDS Receipts and Payments Account: Cash in bank Cash held on trust by Tores Africa Foundation 124,944 NIL 94,034 NIL OTHER MONEfARY ASSErs NIL NIL INVESTMENT ASSETS NIL NIL ASSETS RETAINED FOR CHARITY'S OWN USE (Design and development of website)-. New website {Equipment for projects)". Held on trusl by Tores Ath'ca Foundation 3.048 6,097 NIL 8,863 TOTAL ASSETS 127.992 108,994 LIABILITIES DUE IMMEDIATELY {NIL) INILI FUTURE LIABILITIES Loans (NIL) (10,000) NET ASSETSI(LIABILITIES) £127,992 £98,994 ON 8EH LF OFTHE TIlEr￿." Amanda Slowe - Trustee Martene Snell - Trustee Date of approval..