Stephen Taylor Foundation Report and financial statements For the year ended 31 July 2023 Charity Registration Numb8r 1168032
Stephen Taylor Foundation Contents Page Referen and administrative details Trustees, report Ind8pendent auditor's retx)rt stat8rn8nt of financial activities Balance she8t 10 Statement of eash flows Principal accounting policies 12 Notes to the accounts 14 Stephen Taylor Foundation
Stephen Taylor Foundation Reference and administrative informalion For the year ended 31 July 2023 Trustees Mr M E Taylor Ichairl Mrs L J Taylor Mr R J Walker Charlty reglstered number 1168032 Registered office 65-66 Lincoln's Inn Fields London WC2A 3LH Auditor Buzzacott LLP 130 Wood Street London EG2V6DL Bankers UBS AG 5 Broadgate London EC2M 2QS Sollcltor Farrer and Co 65-66 Lincoln's Inn Fields London WC2A 3LH
Stephen Taylor Foundation Th8 trustees pr85ent th8ir statutory report along with the financial statements of th8 Stephen Taar Foundation for the year ended 31 July 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 12 and 13 and Comply with the charty's goveming document, the Charities Act 2011 and "Accounting and Reporting by Gharities.. Statement ol Recommended Practice applicable to charities pParIng their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. structure Stephen Taylor Foundation l.the ch8rity'l is 8 Charitable incorporated organisalion ICIOI. not having a share capital and was incorporated on 5 July 2016. It operates in accordance wth a goveming document adopted on 5 July 2016. If the charity is wound up, the m8rMb8rs h8v8 no liability to contribut8 to its ass8ts and no p8rsonal responsibility for settling its debts and liabilities. Governance and Management The trustees (who are the key management personnel ol the charity) make the key decisions about the conduct of the charity. The trustees do not receive any retmuneration for their services to the charity. Recruitment and Appointment of Trustee5 Trustees are appointed in accordance with the charity's governing document whith states that there must be a minimum of three charity ttustees. The trustees of the chaiity during the year ended 31 July 2023 and up to the date of approval of the financial stat8rn8nts w8r8'. TrustO•S Mr M E Taylor Ichairl Mrs L J Tayltsr Mr R J Walker Trustee Inductlon and TraSnlng The charity trustees control the charity and its funds. Each trustee is made aware of their duties as a trustee upon appointment and accept their responsibility to keep up to date with changes in statutory requirements that affect the role and responsibilities ol trustees. Risk Management Business decisions and the assoriated risk factors are considered at least annually. As part ol this prOs$ the intemal controls that are in place are reviewed. Internal control risks are minimised by a clear system of delegated authority and Control, and pro¢edur85 for the aulhorisation of all financial transactions. The trustees are s8lisfied that these are currendy adequate to rnanage and reduce the risks identffied. Obje¢tive$ and A¢tivitie$ of the Charity The objective of the charity is to promote. for the public benefrt. the exclusively charitable purposes through the awarding of grants to, and social investment in, charitable organisations.
Stephen Taylor Foundation Achievements and Performance During the year ended 31 July 2023. the Stephen Taylor Found8tion awarded grants to nine organisations. These were predominantly focused on the four overfapping themes that are dose to the heart of the charity, namely., education, improving life chances in the inner city, ducIng inequality and improving the environment. With regard to these core areas of interest, grants were given to the Bear Cubs pre-school nursery in Deptford, the Grove P8rk youth club in L8wisham, Montessori Education for Autism in Greenwich, th8 May and 88k8r community foo>tball club in Dagenham and Toynbee Hall (social welfare) in Tower Hamlets. Educational giving was also augmented by a further payment of £500,000 to King's College, Cambridge in order to further develop access inth"atives at the College. This augments existing efforts which have now funded two new halls of residence. the second of which opened in the reporting period. These are being let to students at substantially below market rates to provide secure and attractive accommodation close to the College. This project is also providing long term funding (via c£450,000 per annum in surplus rental Income from the new student residences) to the College, SO It provide thirty additional undergraduate places for students from disadvantaged backgrounds 8nd provide bursaries and other assistance to students from lower income families. With regard to environmental matters, the Friends ol the Earth were given a general grant to assist their much admired enviionrnental catllpaigning, half ol which was directed by The 8ig Give, in order to receive very welcome match- funding for the underlying recipient. The charity also made an environmental grant to Prickles Hedgehog Rescue. Fundraising The charily does not actively solicit donations and therefore is not registered with the Fundraising Regulator and does not subscribe to any fundraising codes of practice. Public Benefit stat8m•nt The trustees of the charity have given due regard to the Charity Commission's guidance on public benefit and have taken reasonable steps to ensure that this guidance has been considered in the activities undertaken by the charity io deliver its charitable purposes. Financial Review Th8 resuts for th8 y8ar ar8 shown in th8 Stat8ni8nt of the financial 8Ctivities on pag8 9. During the year ended 31 July 2023. the charity reiVed donations of £25.500,00012022.' £36,500,000) and investment income 01 £2,054.50612022'. £254,036). The Foundalion made grants to charitable organisations totalling £734.60012022.' £13,333.0001. Support costs for the year totalled £16,11412022'. £18,459). The balance of the charity's reserves as al 31 July 2023 was £76,379,95812022.' £49,576,165). The level of funds held by the charity wll be utilised for further grant giving and also lor the generation of further income. R8serv8s Policy and Financial Position The level ol reserves is monitored and reviewed by the trustees at least annually. The trustees believe that the charity should target to hold unrestricted reserves at a level which will enable further grant giving and social investment fror both the capital of the charity and the income generated thereon.
Stophen Taylor Foundation Plans for FLrture Y•aT8 The charity pL2ns to continue to ?XP8nd its grant giving activiti. This will involv8 suppothng si¥ne existsng b8nefiGiaries. where their wort( continues to conform th th8 goa15 of the FouThYalkn) and Ihe aims of Injstees. and by idenlrfying new baneficiaries. Trustees. RosponslbllltlvJ Statemont The IDJslees a responsible for prepadng Ihe Trusle8s' Report and the financial statements in accordance appliGable law and Unlted Kingdorn Accounting Standard5 (United knngdorn Generally Accepted Accounting Praclcèl. The K9w appli¢8blè to Gharities In Enjand 8nd Wa5 require5 the tru$iees lo prepa fin8ncial staternents for finarKial yearwhi¢h give a true and fair YW of the slat8 of affairs of Ihe charity and of Ihe income and expenditure of the chanty for Ihe year. In preparing these financial stalemenls, the trustees are roquired to.. select suitable actounting policies and then appty Ihern cons48t8nly', obs&rve the methods and prkncip$ in'Accounling and Rewrhng by Charities.. Statetnent of recomtr*nded practice applicable to chgrilies prepanng their accounts in accordance with Financial Reporting Standard 102," makè Judgm15 and accwnllng estimales thal are reasonatAe and prudent.. stste whether applicable UK Accounting Standards have been followed. subj'ect to any material departures d15dosed and eXpIned in the financial staternenls.. and pwpare the finanaal slalemenls on the going concem basi$ unless it is Inappropriate to presume that the charity ¥Yill Contin in opèralKJn. The trustees are rasponslble for keeping proper 8ccounting reGords that are sufficient to show and expbin the chanty. trdnsactsDns and disclose wilh reasonable accuracy al any time the financial p0511ion of Ihe tharity and 8natl8 them to ensu that the financial statements comrAy the Ch8niies Ad 2011. Ihe Charity IAcwnt8 and Reports) RegulalK)n 2008 and the provisions ofthe goveming document. They a also responsibl& for tsking such sl&ps ès are r8asonaNy open to them lo safeguard the ass818 of the charty and lo pravènt and detect fraud and other irregularitS8S. The truslees are responsible for the mainl&nance and integrity of Ih& charity and financial inforrnalion induded on the charty's website. Legislabon In the Unitsd Kingdom governing lh& preparation 8nd dlsÈèminalion of accounL% may dlffer from legisL9tion in olh&rlusd1CIi(JnS. Thi5 report was apprTrl by the tnJst88s on and 5wned on their tÉhaM by.. Martin Taylor Chair of Ihe Board of Trustees Oale..
Independent auditor's report to the Truslees of Stephen Taylor Foundalion For the year ended 31 July 2023 Opinion We have audited the financial statements of the Stephen Taylor Foundation (the 'charity'l for the year ended 31 July 2023 which comprise the statement ol financial activities, the balance sheet, the statement of cash flows, the principal accounb.ng policies and notes to the financi81 statements. The financial reporting frarnewoik that has be8n applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true 8nd fair view of the state of the charity's affairs as at 31 Juty 2023 and of its income and expenditure for the year then ended., • have been propedy prepared in accordan with United Kingdom Generally Accepted Accounting Practice, and have been prepargd in acoordanoe with the requiretllgnts of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the finanaal staternentg section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the acwunts, we have concluded th8t the trustses. use of the going wncem basis of accounting in the preparation of the accounts is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events orconditions that, individually 01 collectively, tnay cast significant doubt on the charity's ability to continue as a going concern for a period of 8t least twelve months from when the accounts are 8uthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Independenl auditor's report to the Trustees of Stephen Taylor Foundalion For the year ended 31 July 2023 Other information The trustees are responsible for the other information. The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial stat8m8nts d08s not cover the Other Infomiation and we do not 8xpr85s any form of a55uranc8 conclu510n th8r80n. In connection with our audit of the financial slalements, our responsibility is to read the other infomiats'on and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our kno*dedge obiained in the audit or otherwise appears to be materially misstated. 11 we identify such material inconsistencies or apparent material rnisststements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomation. If, based on the work we have perforrned, we condude that there is a material misstatement of this other information, we are required to report that laet. We have nothing to report in this ward. Matters on which we are required to report by exception We have nothing lo report in respect c)f the following matters in relation to which the Charities Act 2011 requires us to report lo you rf, in our opinion.. the infomiation given in the trustees, annual report is inconsistent in any material respect with the financial stat8tn8nts', or sufficient accounting records have not been kept.. or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial stst8rn8ntS 8nd for being satisf18d that they give 8 tru8 and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatetnent, wh8th81 due to fraud or error. In preparing the financial statements, the trustees a Sponsible for assessing the charity's ability to eonb.nue as a going concern, disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic altemative but to do so.
Independent auditor's report to the Trustees of Stephen Taylor Foundalion For the year ended 31 July 2023 Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial staiernents as a whole are free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuranc8, but is not a guarantee that audit conduct8d in accordance with ISAS IUKI will always detecl a material misstatement when it exists. Missiatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of LJS8f5 tak8n on th8 basis of thes8 financial 5tatem8nts. Irregularities, including fraud, are instances of non-oompliance with laws and regulation5. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. How the audit was considered capable of detecting fflrregularities including fraud Our approach to identifying and asse55ing the risks of material mi5Statement in respect of iiiegularities, including fraud and non-c0rnpl1an with laws and regulations, was as follows.. The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations", We identified the laws and regulations applicable to the charity through discussions with management and from our knowledge and experience of the charity sector", We focused on speafic laws and regulations which we considered may have a direct material effect on the accounts or the activities of the charity. These induded but were not limited to the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recomm8nded Practic8 applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Iieland IFRS 1021., and We assessed the extent of compliance with the laws and regulations identified above through making enquiries with management and those charged with governance and review of minutes of trustees, meets"ngs. We assessed the sustsptibility of the charity's accounts to rnaterial misstatement, including tsbtaining an understanding of how fraud rnight occur. by.. Maknng &nquirie8 of rnan8gern8nt and those charg8d with governance as to where th&y Ix)nsid8red th8r8 wa5 susceptibility lo fraud, their knowledge ol actual, suspected and alleged fraud., and Considering the intemal controls in place to mitigate risks of fr8ud and non-compliance With laws and r8gul8tions. To address the risk of fraud through managernent bias and override of controls, we.. Performed analytical proogdures to identify any unusual or unexpgctgd relationships., Carried out substantive testing of expenditure- Assessed whetherjudgemenls and assumptions made in deiemiining the accounting estimates were indicative of potential bias,. and Investigated the rationale behind significant or unusual transactions.
Independenl auditor's report to the Trustees of Stephen Taylor Foundalion For the year ended 31 July 2023 Audltorfs responslbllltles for the audlt of the accounts Icontinuedl How the audit was considered capable of detecting irregularities including fraud (continue(l) In response to the risk ol irregularities and non-compliance with laws and regulations, we designed procedures which includ8d, but W8re not lirnit8d to.. Agreeing accounts discl(>sures to underlying supporting documentation", Reading the minutes ol meetings of trustees,. and There are inherent limitations in our audit prOdureS described above. The more removed that laws and regulations are from financial transaction5, the lèss likely it is that we would becorne aware of non-cornpliance. ALJditing standards also limit the audit procedures required tc) identify non-c0rnpl1an with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, il any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities forlhe audit c)f the financial statements is located on the Finan¢ial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Use of our report This report 15 made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not aecept or assume responsibility to anyone other than the eharity and the charity's trustees as 8 body, for our audit work, for this report, or for the opinions we have forrned. Buzzacott LLP Stattjtory Auditor 130 Wood Street London EC2VfjDL 02 May 2024 Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Stephen Taylor Foundation ststement of financial activities For the year ended 31 July 2023 Yèar Year Unrestricted ended 31 Unrestricted ended 31 Ngte fund$ July 2023 funds July 2022 Income from.. Donations 25,500,000 25,500,000 36,500,000 36,500,000 Investments- interest reiVed 2,054,506 2,054,506 254.036 254.036 Total income 27,554,506 27,554,506 36,754,036 36,754,036 Expenditure on: Charitable activities 750,714 750,714 13,351,459 13,351,459 Total expenditure 750 714 750 714 13,351,459 13,351,459 Net income and net movement in fund 26,803,793 26,803,793 23,402,577 23,402,577 Reconclllatlon of funds.. Total funds brought forward at 1 August 2022 Total funds carrled forward at 31 July 2023 49.576,165 49.576,165 26,173,588 26,173,588 76,379,958 76,379,958 49,576,165 49,576,165 All activities relate to continuing operations. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 12 to 15 foirn part of these financial staternent5.
Stephgn Taylor Foundatlon Balanco Sheet 31 July 2023 2023 2023 2022 2022 Cufrent ass8ts Debto Short lem deposits Cash at bank 4nd in hand 1,305,903 73.348,335 1737 114 76.391,352 9.997.257 36.550,000 3.041.408 49.588.665 Credfjtors.. amount$ falling dut wlthln one year Not evrrent a8S•t$ 78,379.958 49.57e,165 Net assets 76,379.958 49.576,165 Charlty Funds Represent by.. Unrv4trlcted fvnd& 76,379.958 49,576.165 Total funds 76,379,958 49.576.165 Th? financial statements were approved by the trustees an(J Sigrd their behaw, by.. Martin Taylor Chair of the Board of Trustees 2910412024 The notes on pages 12 to 15 form part of these finanGial slatements. Charity number.. I 168032 10
Stephen Taylor Foundation Statement of cash flows Year to 31 July 2023 Y•ar ended 31 July 2023 Year ended 31 July 2022 Cash flows from operating activities Net Income lor the year Int8r8st rec8lV8d 26,803.793 23,402,577 12,054,506) 8,691,354 12SI,0361 1184,7571 6,600 22,970,384 Decrease lincreasel in debtors IDecre8sel increase in creditors N8t cash from provided by operating activitie8 33,439,535 Cash flows from invèsting aetivitiès Interest received 2,054,506 254.036 Purchase of short-term deposits 136,798.3351 122,926,069) Net cash used in investin9 a¢ti¥ities 134,743,829) 122,672,033) IDecreas81 iner8as• in Cash in the year Cash and cash equivalents at 1 August 2022 11,304,294) 298,351 3,041.408 2,743,057 Cash and cash •quival•nts at 31 July 2023 1,737,114 3,041,408 No separate reconciliation ol net debt has been prepared as there is no difference bemeen the net cash Idebtl of the charity and the above cash and cash equivalents 11
Stephen Taylor Foundation Notes to the financial statements For the year ended 31 July 2023 1. Prlnclpal accountlng pollcles 1.1 Basls of preparatlon These account5 have been prepared for the year to 31 July 2023. The accounts have been prepared under the historical cost convention with iterms reoognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or in the notes to these accounts. The aGwunts have been prepared in accordance wth °Awounting and Reporting by Ch8rites'. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the financial reporting standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 (Charit185 SORP IFRS 1021 the financial reporting standard applicable in th8 UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The charity constitutes as public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearest pound. 1.2 Crlt5cal accountlng estSmates and areas of ludgement There are currently no significant judgements and estimates made by the trustees in the pparatIOn of the accounts. IJ Assessment of going concern The trustees have assessed whether the use ol the going concem assumption is appropriate in pieparing these accounts. The tiustees have made this assessment in respect to a year of one year from the date of approval of these accounts. The trustees of the eharity have conduded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of Ihe charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resour3 to rneet its liabilities as they fall due. Income recognition Income is recryjnised in the year in which the charity is entitled to receipt, the amount can be measured reliably and it is probable that income will be received. Where income relates to future y8ars, this Income will b8 def8rr8d. Donations receiv8d for th8 general purpos8s ol th8 ch8ritable company are included as unrestricted funds., grants and donations for activiti8s r8strict8d by th8 wishes of the donor are taken to restricted funds. Expenditure Liabilits'es are recognised as expenditure as soon as there is a legal or constructive obligation committing there is a legal or constructive obligation committing the charity to make a paymenl to a third paty, it is probable that ta transfer of economic benefit will be required in settletnent and the amount of the obligation can be measured reliably. Expenditure is included in the accounts on an accTuals basis and includes attributable VAT which cant be recovered. 12
Stephen Taylor Foundation Notes to the financial statements For the year ended 31 July 2023 Principal aountIng poli¢ie$ l¢ontinuedl Expenditure Icontinuedl Expenditure oomprises the following.. a. The cosis of charitable activities comprise expenditure related to the charitys primary charitable purpos8s, primarily th8 Cost of grants award8d. b. Support costs are the costs associated with the governance arrangements of the charity and the g8n8ral running of the charity. Debtors Debtors are recognised at their settlement amount, less any provisions for non-recoverability. Prepayment are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. Cash at bank and in hand and short tèrm dèposits Cash at bank and in hand represents such accounts and inslrurrents that are available on demand or have a maturity of less than three months from the date ol acquisitions. Deposits for more than the months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investrnenl. Followng a review of cash at bank and in hand balances during th8 y8ar, a d8cision was Tnade to r8- present balances between cash at bank and in hand and short-term deposits in line with the above policy. The balance sheel and statement of cash flows as at 31 July 2023 and 31 July 2022 have been re-presented, with deposits for more than three months but less than one year being disclosed as short term deposits. As the total reported results remain unchanged, the re-presentation is not considered lo be a restatement of prior year results. Creditors and provisions Creditors and provisions are recognised when there is an obligation at the balance sheet date as a resuh ol a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 1.10 Taxation Stephen Taylor Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charit8ble 8ctiviti8s, as it falls within th8 Various exemptions available to registered charities. 1.11 Fund accounting General unrestricted funds a available for use at the discretion of the trustees in the furtherance of the general objeciives ol the charity. 13
Stephen Taylor Foundation Notes to the financial statements For the year ended 31 July 2023 Expenditure Unrastrietèd 2023 Total funds 2023 Unrestrieted 2022 Total funds 2022 Grant5 awarded (note 31 734,600 734.600 13,333,000 13,333,000 Support C05ts.. Bank charges Audit and accountancy fees 600 600 9,699 8,760 9,699 8,760 15.514 15,514 750,714 750,714 13,351,459 13,351,459 Grants awardèd Total Funds 2023 Total funds 2022 Recipient organis8tions'. Bear Cubs Pre-schwl, Deprford Celi8 Harnrnond Anirn81 Trust Easlbrook Ctsmmunity FC Youth Friends of the Eath King's College, Cambridge Montessori Education for Autism Prickles Hedgehog Rescue - The Big Give . Thomas Tallis School, Kidbrooke, London Toynbee Hall UBS Optimus Foundation Youth First Ltd 39,600 33,000 50,000 9,000 50,OIYJ 500.000 11,000 10.000 50,000 100,000 12,840,000 10,000 10,000 20,000 20,000 50,000 200,000 13,333,000 20.OIXI 45.000 734.600 Net movement in fund5 The net movetnent in funds for the finanaal year Is stated after charging.. Total funds 2023 Total funds 2022 Current year.. Audit lees Non audit fees 5,380 10,134 4,290 4,470 Trustees, remuneration No trustees received any ernoluments for Iheir servi8 as trustees during the year12022- none). No trustees were 1MbUrSed any expenses during the year12022 - none). 14
Stephen Taylor Foundation Notes to the financial statements For the year ended 31 July 2023 Debtors 2023 2022 HMRC gift aid repayment AccrLJed interest 9.812.500 184.757 9,997,257 1 305 903 1,305.903 Creditors= amounts falling due within one year 2023 2022 Accruals 11,394 11,394 12,500 12,500 Rèlat•d party transactions During the year. trustees made donations to the Foundation totalling £25,500,00012022.' two trustees made donations totalling £36.500,0001. There were no other related party transactions during the year requiring diselosure12022.. none). 15