REGISTERED CHARITY NUMBER: 1161398
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
FOR
TRIPLE T CHARITABLE TRUST
Martin and Company 25 St Thomas Street Winchester Hampshire S023 9HI
TRIPLE T CHARITABLE TRUST
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CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Trustees' Report | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5) | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
| DetailedStatementofFinancialActivities | 11 |
, TRIPLE T CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2024
Seee
| TRUSTEES | Mrs Teri Spain |
|---|---|
| Miss Tian Spain | |
| Gary Beer (resigned 25.3,2025) | |
| Taino Marotto Spain (appointed 26.3.2025) | |
| PRINCIPAL ADDRESS | 25 St Thomas Street |
| Winchester | |
| Hampshire | |
| S023 9HJ | |
| REGISTERED CHARITY | 1161398 |
| NUMBER | |
| INDEPENDENT EXAMINER | Martin and Company |
| 25 St Thomas Street | |
| Winchester | |
| Hampshire | |
| S023 9HJ | |
| INVESTMENT ADVISORS | JM Finn |
| 4 Walcote Place | |
| Winchester | |
| Hampshire | |
| S0239AP |
Page |
, TRIPLE T CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),
Legal and administrative information set out on the information page forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to make grants to any charities and for any charitable purpose as the trustees in their absolute discretion deem appropriate.
Public benefit
The Trustees confirm they have complied with the duty in section 17 of the Charities Act 2011 and have taken account of the Charity Commission's general guidance on public benefit. The benefits that arise from the aims of The Triple T Charitable Trust is to make grants in the furtherance of its objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year donations received, including gift aid amounted to £37,500 and investment income £7,803. Total expenditure amounted to £14,698. Grants totalling £10,000 were made to seven charitable organisations (2023: £124,000) the details of which can be seen in the notes to the accounts. These have been made in line with the charity's objectives.
FINANCIAL REVIEW
Financial position
As at 31 December 2024 the funds of the charity amounted to £497,473 (2023: £432,207).
Reserves policy
It is the policy of the charity that monies not required for immediate purposes of the charity are invested in a bank deposit account,
The charity aims to keep only a minimal level of free reserves, the majority of the unrestricted funds of the charity being invested as detailed above to produce future income for distribution.
Going concern
The Trustees have satisfied themselves that the charity is a going concern and has adequate resources to continue in operational existence for the foreseeable future. The charitable activities are funded by the investment portfolio and although Covid-19 has had a negative impact, the portfolio has sufficient value to support future grants making.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity was established by a charitable trust deed dated 12 February 2015.
Recruitment and appointment of new trustees The power of appointing new trustees is vested in the trustees or the majority of trustees should there be more than two in number.
Organisational structure
The day to day administration of the charity is carried out by Mrs Teri Spain in conjunction with her fellow trustees.
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TRIPLE T CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have examined where there may be risks which the charity could face and confirm that systems have been established to enable steps to be taken to mitigate these risks. The trustees do not commit funds until they are available.
Approved by order of the board of trustees on eed Sb Oe ZOZS” and signed on its behalf by:
Mrs Teri Spain - Trustee
es
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, INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TRIPLE T CHARITABLE TRUST
Independent examiner's report to the trustees of Triple T Charitable Trust
I report to the charity trustees on my examination of the accounts of Triple T Charitable Trust (the Trust) for the year ended 31st December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
iF 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 records; or
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3, the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other 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.
Seamus McLaughlin w.
Martin and Company
25 St Thomas Street
Winchester
Hampshire $023 9HJ[a][ Dh][ ncamasomee] Date:[bE] Ayn | tars
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TRIPLE T CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £, | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 37,500 | 37,512 | |
| Investment income | 3 | 7,803 | 8,596 |
| Total | 45,303 | 46,108 | |
| EXPENDITURE ON | |||
| Raising funds | 4 | 2,808 | 2,705 |
| Charitable activities | 5 | ||
| Charitable giving | 11,890 | 129,940 | |
| Total | 14,698 | 132,645 | |
| Net gains on investments | 34,661 | 31,750 | |
| NET INCOME/(EXPENDITURE) | 65,266 | (54,787) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 432,207 | 486,994 | |
| TOTALFUNDSCARRIEDFORWARD | 497,473 | 432,207 |
The notes form part of these financial statements NeeeeeTT Te nn Page 5
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TRIPLE T CHARITABLE TRUST
BALANCE SHEET 31ST DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | Pa | |
| FIXED ASSETS | |||
| Investments | 10 | 471,047 | 416,285 |
| CURRENT ASSETS | |||
| Debtors | 11 | 7,500 | 7,500 |
| Cash at bank | 20,366 | 9,862 | |
| 27,866 | 17,362 | ||
| CREDITORS | |||
| Amounts falling due within one year | 12 | (1,440) | (1,440) |
| NET CURRENT ASSETS | 26,426 | 15,922 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 497,473 | 432,207 | |
| NET ASSETS | 497,473 | 432,207 | |
| FUNDS | |||
| Unrestricted funds | 497,473 | 432,207 | |
| TOTALFUNDS | 497,473 | 432,207 |
The financial statements were approved by the Board of Trustees and authorised for issue on Alyn be, AMAG and were signed on its behalf by:
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Teri Spain - Trustee
The notes form part of these financial statements
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, TRIPLE T CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
- STATUTORY INFORMATION
The Triple T Charitable Trust is a charity registered in England and Wales. The charity's registered number and registered address can be found in the Trustees' Report.
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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 convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements have been prepared to give a ‘true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended practice effective from 1st April 2005 which has since been withdrawn.
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources,
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
All funds held by the charity are unrestricted general funds which can be used in accordance with the charitable objectives at the discretion of the trustees.
Investments
Stocks and shares quoted on the London Stock Exchange are included in the balance sheet at their market value at the year end. The differences between the market value and the carrying value of the investments are included in the Statement of Financial Activities. No unquoted investments are held.
Profits and losses arising on the disposal of investments are included in the Statement of Financial Activities.
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continued...
TRIPLE T CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024
| 3. | INVESTMENT INCOME | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Portfolio income | 7,803 | 8,596 | ||
| 4, | RAISING FUNDS | |||
| Investment management costs | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Portfolio management | 2,808 | 2,705 | ||
| 5. | CHARITABLE ACTIVITIES COSTS | |||
| Grant | ||||
| funding of | ||||
| activities | Support | |||
| (see note | costs (see | |||
| 6) | note 7) | Totals | ||
| & | £ | £ | ||
| Charitable giving | 10,000 | 1,890 | 11,890 | |
| 6. | GRANTS PAYABLE | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Charitable giving | 10,000 | 124,000 | ||
| The total grants payable to institutions in the yearwere as follows: | 31.12.24 | 31.12.23 | ||
| £ | £ | |||
| Off the Fence Trust Ltd | 2,000 | 1,000 | ||
| Crisis UK | 2,000 | - | ||
| Free the Bears UK | 2,000 | - | ||
| Marie Curie Cancer Care | 1,000 | . | ||
| Dogs Trust | 1,000 | 1,000 | ||
| Elephants for Africa | 1,000 | - | ||
| Safe Haven for Donkeys in The Holy Land | 1,000 | - | ||
| Holbrook Animal Rescue | - | 100,000 | ||
| Medical Aid for Palestinians | - | 7,000 | ||
| Choose Love | - | 5,000 | ||
| Disasters Emergency Committee - Turkey-Syria Earthquake Appeal | . | 5,000 | ||
| UNHCR | . | 3,000 | ||
| People for Ethical Treatment ofAnimals | - | 1,000 | ||
| Freedom from Torture | - | 1,000 | ||
| 10,000 | 124,000 |
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TRIPLE T CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2024
| flr | SUPPORTCOSTS | |||
|---|---|---|---|---|
| Governance | ||||
| Finance | costs | Totals | ||
| £ | £ | £ | ||
| Charitable giving | 450 | 1,440 | 1,890 | |
| Support costs, included in the above, are as follows: | ||||
| Finance | ||||
| 2024 | 2023 | |||
| Charitable | Total | |||
| giving | activities | |||
| £ | £ | |||
| Bank charges | 450 | 4,500 | ||
| Governance costs | ||||
| 2024 | 2023 | |||
| Charitable | Total | |||
| giving | activities | |||
| £ | ca | |||
| Accountancyandlegalfees | 1,440 | 1,440 |
- TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023. 9, STAFF COSTS
There are no employees so consequently no staff costs have been incurred.
- FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTSINVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| Es | |
| MARKET VALUE | |
| At Ist January 2024 | 416,285 |
| Additions | 131,221 |
| Disposals at carrying value | (109,049) |
| Revaluations | 32,590 |
| At 31st December 2024 | 471,047 |
| NET BOOK VALUE | |
| At 31st December 2024 | 471,047 |
| At31stDecember2023 | 416,285 |
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TRIPLE T CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024
10. FIXED ASSET INVESTMENTS- continued
Fixed asset investments were valued on an open market basis on 31st December 2023 by J.M. Finn & Co. Ltd.
If the investments had not been revalued they would have been included at the historical cost of £320,377.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEARDUE WITHIN ONE YEARWITHIN ONE YEARONE YEARYEAR | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors | 7,500 | 7,500 | |
| 12. | CREDITORS: AMOUNTS FALLING DUEWITHINONEYEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other creditors | 1,440 | 1,440 | |
| 13. | RELATEDPARTYDISCLOSURES |
There were no related party transactions for the year ended 3 1st December 2024,
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TRIPLE T CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| eee | eee | eee |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations Gift aid |
30,000 7,500 |
30,000 7,512 |
| 37,500 | 37,512 | |
| Investment income | ||
| Portfolio income | 7,803 | 8,596 |
| Total incoming resources | 45,303 | 46,108 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 2,808 | 2,705 |
| Charitable activities | ||
| Grants to institutions | 10,000 | 124,000 |
| Support costs | ||
| Finance | ||
| Bank charges | 450 | 4,500 |
| Governance costs | ||
| Accountancy and legal fees | 1,440 | 1,440 |
| Total resources expended | 14,698 | 132,645 |
| Net income/(expenditure) before gains and | ||
| losses | 30,605 | (86,537) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 34,661 | 31,750 |
| Netincome/(expenditure) | 65,266 | (54,787) |
This page does not form part of the statutory financial statements
ie—“‘“‘ Page 11