REGISTERED CHARITY NUMBER: 1157095 Report of the Trustees and Unaudited Accounts for the Year Ended 31 December 2023 for TORE'S FOUNDATION Caroline A Vickery FCA Chartered Accountsnts Wedden Farm, ParrLKk Lane. Hartfield East Sussex TN7 4AT TORE'S FOUNDATION Contents of the A¢¢ounts For the Year Ended 31 December 2023 Page Report of the Trustees Independent Examiner's Rewrt Receipts and Payments Accounts Slatement of Assets and Liakn"lities TORE'S FOUNDATION Report of the Trustees Forthe Y¥ Ended 31 December 2023 The trustees of the chanty present their report wtlh the accounts of the chanty for the year ended 31 December 2023. The accounts have been prepared on a Receipts and Payments basis in accordance with section 133 of the Charities Act 2011. REFERENCE ANDADMINISTRATIVE DETAILS Registered Charity Number 1157095 Principal Address 12 Albert Place London W8 5PD TTUStees Mrs Amanda Slowe (Chair) Mrs Martene Snell Lady Sawers Mr Robert Eikeland STRUCTURE, GOVERNANCE AND MANAGEIIENT Governlng document The charty is controlled by its goveming document, a deed of tnjst. and constr(utes a Charrtable Incorporated Organi5ation. Recruitment and appointment of new trustees The existing trustees re￿fve to appoint trustees. No Trustee received any remuneration in respect of services to the charty. OBJECTIVES AND ACTMTIES Objectives and aims The charitable company's objectives are the furtherance of such exclusively charitable purposes as the trustees shall determine and. In particular. Tore s Foundation empowers young people lo develop their Cfltical thinking and discover their voice IhroL¢gh debate in order to transform their communities and engage politically." to change and expand their outlook with regard lo the possibilities of democratic polilics, and to encourage their Inlere5t and partiupation TORE'S FOUNDATION Report of the Trustees continued FortheYewEnded 31 December 2023 Charitable activities and public benefit The chaflty currently operates in the Western Cape. South Africa. where it runs debating classes in underprivileged high schools for studeiils aged 15 to 18. Current affairs. politics and matters affecting democracy foim the conlent of thp debates. which is stimulating. thought piovoking and expands students horizorss and general knowledge. Regular inter-school debating coimpetitions ..11 F.. ".1..1 The cb.arily also encourages young people who have dropped out of education back into learniiig through debating and lailoied confidence building courses In partnership with Comrriuniversily. During the Covid-19 p8ndemic the charity promoted on-line debating which It is conlinuir)g lo develop in order to expand ils reach across the Cape and eventually throughout South Africa ACHIEVEMENT AND PERFORMANCE Operatlons The charity established Tore's Africa Fotsndation, a Soulh AfricAn NGO, lo njn its programme in South Africa, under the guidance ol the charity's Ifuslees. The charity's sole activty is the funding of Tore's Afnca Foundation. which is registered as a Public Benefit 0rganttats.on and files Ils own accounts wrth the South Afn'can Revenue Service. Main achievements The charity, through its funding of Tore's Africa Foundation, has been operating in Cape Town, South Africa. where debating clubs and, since Ihe Covid-19 pandemic, on-line debating groups are flourishing, k)cal communty relationships have been established and promising students are being given the opportunity to undertake intemships and lo go to university. A dose assccialion has been established with the Stellenbosch Business School. which has adopted Tore's Africa Foundation as ils chosen social impact charity, an association that has been hugely helpful and rewarding both fsnancially and feputationally. FINANCIAL REVIEW Reser4e$ poll¢y The chanly dces not have a ￿￿￿reSe￿e policy Going ¢oncern The accounts have been prepared on the going concem basis as financial support is being activ sought in a fundraising drive. ON BEHALF OFTHE TF￿￿. Amanda Slowe - Twstee MaTleDe Snell - Truslee Date of approval". 2024 TORE'S FOUNDATION Independent Examiner's Report to the Trustees of Tore's Foundation I report to the trustees on my examination of the accounls of Tore's Foundation for the year ended 31 December 2023. ResponsibilitEs and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance wilh Ihe requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examinatiorj I have followed all the applicable Direclions given by the Charity Commission under section 145{Sllbl of the Act. Independenl examiners statement l ttave completed my examination. I confirm that no material matters have come to my attention in conr>ection with the examination. 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 2. the accounts do not accord with those recoi(Js I have no concems and have come acros5 no othef 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. CAROLINE A VICKERY FCA Member of the Institute of Chartered Accountants Wealden Farm Paxrock Lane Hartfield East Sussex TN7 4AT Date.. 5 September 2024 TORE'S FOUNDATION Receipts and Payments Accounts For the Year Ended 31 December 2023 2023 Unrestricted Funds 2022 Unreslricled Funds RECEIPTS Voluntary recelpts Donations 26.000 NIL 26,000 NIL Other receipts Repayment of expenses 632 811 632 811 Total receipts 26,632 811 PA YMENTS Generation of voluntary receipts Marketing materials, artwork and printing NIL NIL Charitsble activities Direct grants Grants to projects Project support 63,282 NIL 62.600 NIL Governance costs Accountancy 2nd bookkeeping Professional fees Trustee supervisory exF*nses Monitoring and evaluation Stralegy and management support 469 306 1,641 NIL NIL 883 NIL 11,068 NIL NIL Support costs Finance Bank and other charges Other Recoverable expenses Website support Courier NIL NIL NIL 144 NIL 811 21 NIL Asset and investment purchased Repayment of Iruslee's short-lerm advance Asset and investment purchased NIL NIL NIL NIL Total payments 65,842 75,383 TORE'S FOUNDATION Receipts and Payments A¢¢ounts For the Year Ended 31 December 2023 2023 2022 Unrestricted Funds Unrestricted Funds Net receiptslpayments (39.210) 74,572 Cash funds last year end 50.372 124,944 Cash funds this year end 11,162 50,372 TORE'S FOUNDATION Statement of Assets and Liabilities at the end of the year At 31 December 2023 2023 2022 Unrestricted Unrestricted Funds Funds CASH FUNDS Receipts and Payments Account: Cash in bank Cash held on trust by Tores Africa Foundation 11,162 NIL 50.372 NIL OTHER MONETARY ASSETS NIL NIL INVESTMENT ASSETS NIL NIL ASSETS RETAINED FOR CHARITY'S OWN USE IDesign and development of websilel. Websf(e {EqLtipmenl for projeclsl.. Held on trust by Tores Africa FoundatM)n 3,048 3,048 NIL NIL TOTAL ASSErs 14.210 53.420 LIABILITIES DUE IMMEDIATELY (NIL) {NILI FUTURE LIA81LITIES Loans {NILI INILI NET ASSEfsiiLIABILITIES) £14.210 £53.420 ON BEHALF 0FTHE7F￿E￿. Amanda Slowe - Trustee Marlene Snell - Trustee Date of approval.. 2024