**Charity Registration No. 1169597** ## **INTERNATIONAL ORTHODONTICS FOUNDATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2025** ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Professor D Bister Professor F McDonald **Charity number** 1169597 **Principal address** Yewhurst Weston Green Thames Ditton KT7 0JZ **Independent examiner** J Lozidiou FCA Gerald Edelman LLP 73 Cornhill London EC3V 3QQ **Bankers** Parklands 3 De Haviland Way Horwich Bolton BL6 4YU ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 4| |Statement of Trustees' responsibilities|5| |Independent examiner's report|6| |Statement of financial activities|7| |Balance sheet|8| |Notes to the accounts|9 - 15| ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 5 APRIL 2025**_ The Trustees present their annual report and accounts for the year ended 5 April 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019) ## **Objectives and activities** The charity's objects are: 1) The advancement of education for the public benefit in the understanding and knowledge of Orthodontics in particular but not exclusively by: a) Supporting research into areas relating to Orthodontic clinical care and publishing results b) Advancing the assessment and training of those involved in Orthodontics 2) To further such other purposes currently recognised as charitable (under English law) and of value to the community as the Trustees see fit from time to time. ## _Strategies for achieving aims and objectives_ The following strategies for expenditure have been agreed by the Trustees to further the objects of the charity and include: a) Support for all postgraduates for (i) international travel and (ii) UK education b) Support for staff to progress research ideally to a doctoral level c) Support of research and support costs for meetings to support (i) research (ii) audit (iii) alumni (iv) education d) Support of examinations (both university and Royal College of Surgeons) e) Development of initiatives in teaching f) Support for King’s College London and Royal College of Surgeons of Edinburgh via ongoing funding to ensure the strategies in (a) to (e) are put into practice g) Direct provision of dental care and assistance in overseas locations where need is severe ## _Public benefit_ The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## _Grant making policy_ The Trustees review all applications received be they from individuals, institutions or other projects in consultation with their contacts in the relevant sectors of operation. Decisions are then made as how to best utilise the funds available in support of the chosen party and in line with the aims and objectives of the charity. - 1 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **Achievements and performance** ## _Significant activities and achievements against objectives_ During the year the sum of £16,878 (2024: £347,961) was paid in support of the charitable objectives in the following manner: ## 1) Travel and support for trainee grades. We continue to promote and support travel together with expenses associated with junior staff at all levels. The travel is both to educational events and healthcare clinics. In additional supportive education, including invites to renowned speakers, is supported. The trend since COVID continues to be online seminars and many speakers, due to other world events, are reluctant to travel. Supporting this is the support of ‘teaching the teacher courses’ for KCL and other institutions. We have funded specifically education courses for individuals both within KCL and at other educational establishments. ## 2) Official PhD students We have had official links with the Open University. This is now reducing and the latest publication with minor support from the charity was ‘Tetrameric, active PKM2 inhibits IP3 receptors, potentially requiring GRP75 as an additional interaction partner’. Lemos FO, de Ridder I, Wagner L, Bootman MD, Bultynck G, Yule DI, Parys JB.Biochim Biophys Acta Mol Cell Res. 2024 Oct;1871(7):119796. doi: 10.1016/j.bbamcr.2024.119796. Epub 2024 Jul 20. It is difficult to predict if any future publications will be presented due to the rapid advances in scientific investigations. The previous paper by Silvestri et al, (2023), detailed in the previous year’s report, has been cited by 30 other researchers in other leading scientific publications. ## 3) Humanitarian Dental The support includes travel to the relevant area (economy class), accommodation, equipment and subsistence and travel within the country. We continue to provide small funds for outreach clinics in Uganda. ## 4) Support of Royal College of Surgeons of Edinburgh charitable activities Examiners of the College (volunteers) are funded to go to courses for development of them as assessors. On occasions one off payments are offered to promote and develop projects of educational benefit for the Colleges. In addition, ongoing development of collaborative links with the Edinburgh College continue. Links continue to develop with Ninth People’s Hospital in Shanghai and teaching and assessment in Egypt with multiple organisations. The latest assessments were carried out in Hong Kong but also allowed us to visit a leading edge stem cell facility in Dalian. Whilst the facility was ‘state of the art’ it was one of a small number of research institutions that had received government approval for human trials. This was mainly supported by the Ninth Peoples Hospital but required some additional support from our charity. The intention is to develop a link with the RCS Edinburgh to bring, with the correct level of oversight, research methodolgies to Scotland. The most notable strategy to date was the development of stem cell strategies to support damage to the Facial nerve. 5) Research into Dental Age assessment This project has now been completed. The paper published as a consequence of this research still continues to be cited. Whilst continuing to support agreed causes including Guys and St Thomas’ trust, King’s College London and Royal College of Surgeons of Edinburgh, it has become apparent that the major asset of the charity was limited in its use. In several meetings of the trustees, it was agreed to widen the scope of education to include other educational facets of society. Two organisations had been identified, after several exploratory meetings, with the scope and capacity for receiving the asset in order to seed fund further developments. The first organisation was The Leys and St Faith’s Schools Foundation (Registered charity no:1144035) of Fen Causeway, Cambridge CB2 7AD. They have a well-established process to recruit under-privileged children in providing a scholarship for attendance at the Leys School. In discussion we were able to allocate £212,000 in July 2022 towards this worthy cause. To date the school is working on a strategy to maximise the wine portfolio; world markets have declined. - 2 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_ The second organisation, The Royal Opera House (The ROH: charity number: 1169597) as part of The ROH transformational bursary programme, the Gift of Education, is able to provide support to school education in the pursuit of improving societies’ knowledge and understanding of operatic works. Since the year end the Trustees have committed to a substantial grant in the sum of £321,162 with the Royal Opera House. Annual reports will be provided informing the trustees how the funds have been used once the two organisations have established the most efficient way of utilising the assets. ## 6) Educational projects in Peru Following a visitation to some remote communities with obvious dental need it was identified that there is a requirement for basic education to allow the communities to understand the need for dental care and then to provide funds for that access. This is now being funded through small projects to support (a) literacy education and (b) allow independent income generation for agriculture development of isolated communities allowing them to create income and, in turn, travel to major cities. The Trustees believe that all of these are of enormous long term benefit to the community and public at large. A detailed list of grants made can be found in note 7. ## **Financial review** The net expenditure for the year was £2,604 (2024 : £385,117). The total income received was £43,080 (2024 : £87) consisting mainly of donations made by the Trustees. Total expenditure amounted to £25,501 (2024: £361,015) which primarily consisted of direct charitable expenditure of £16,878 (2024 : £347,961) including support costs of £7,465 (2024 : £10,982). ## _Reserves policy_ Having reviewed the charity's financial forecast and expected future cash flows , the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements. Accordingly, the Trustees continues to adopt the going concern basis in preparing the financial statements for the year ended 5 April 2025. Further details regarding adoption of the going concern basis can be found in note 1.2 to the financial statements. The Trustees have pledged to provide such additional finance required to enable the annual grant target of the charity to be met. Thus the policy of the Trustees is not to hold material reserves. ## **Structure, governance and management** The charity is a charitable incorporated organisation governed by a constitution dated 17 June 2015. The Trustees who served during the year and up to the date of signature of the financial statements were: Professor D Bister Professor F McDonald ## _Recruitment and appointment of trustees_ Additional trustees can be appointed at the discretion of the board. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. ## _Organisational structure_ The charity is administered on a day to day basis by the Trustees who regularly hold informal meetings to discuss ongoing issues arising. All Trustees give freely of their time and no remuneration or benefits are paid to them. - 3 - INTERNATIONAL ORTHODONTICS FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 The Trustees, report was approved by the Board of Trustees. Professor F McDon81d Trustee 11 July 2025 ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 5 APRIL 2025**_ The Charities Act 2011 requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charitable incorporated organisation for that year. In preparing these accounts, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust constitution. They also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 5 - ## INTERNATIONAL ORTHODONTICS FOUNDATION ## INDEPENDENT EXAMINER'S REPORT ## TO THE TRUSTEES OF INTERNATIONAL ORTHODONTICS FOUNDATION | report to the Trustees on my examination of the financial statements of International Orthodontics Foundation (the charity) for the year ended 5 April 2025. ## Responsibilities and basis of report As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act). | report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## Independent examiner's statement Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. | understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accaunting Practice. | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 _ the accounts do not accord with those records; or - 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. | 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. SE . Sac J Loizidou FCA 11 July 2025 Gerald Edelman LLP Chartered Accountants 73 Cornhill London EC3V 3QQ 11 July 2025 -6- ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 5 APRIL 2025**_ |**Notes**
**Income from:**
Donations and legacies
**3**
Investments
**4**
**Total income**
**Expenditure on:**
Raising funds
**5**
Charitable activities
**6**
**Total expenditure**
**Net expenditure before investment returns**
Net gains on investments
**11**
**Net expenditure for year**
Fund balances at 6 April 2024
**Fund balances at 5 April 2025**|**2025**
**2024**
**£**
**£**
42,998
-
82
87
43,080
87
1,158
2,072
24,343
358,943
25,501
361,015
17,579
(360,928)
(20,183)
(24,189)
(2,604)
(385,117)
96,754
481,871
94,150
96,754| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 7 - INTERNATIONAL ORTHODONTICS FOUNDATION BALANCE SHEET AS AT 5APRIL 2025 2025 2024 Notes Flxed assets Wine portfolio 12 90,999 109,233 90,999 109,233 Curronl assets Debtors Cash at bank and in hand 13 8,561 3,214 1,040 11.775 1,040 Credltor8: amounts falling duo wlthln one yoar 14 (8,624) {13,5191 Not curront a88etsl{Ilabillti08} 3.151 (12,479) Total assets le86 current liabilitle8 94.150 96,754 Ineom8 funds Unrestricted funds 94,150 96,754 The accounts werè appro on Its behalf by.. d by the Board of Trustees and were authorised for Issue on 11 July 2025 and slgned Professor F McDonald **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **1 Accounting policies** ## **Charity information** International Orthodontics Foundation is a Charitable Incorporated Organisation incorporated in England and Wales. The registered office is 73 Cornhill, London EC3V 3QQ. ## **1.1 Accounting convention** The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Resources expended** 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 settlement will be required and the amount of the obligation can be measured reliably. Any irrecoverable VAT is charged against the expenditure heading to which it relates. Charitable expenditure includes grants payable, consultancy fees and trustee expenses incurred regarding the provision and supervision of charitable projects. Support costs are also included under charitable expenditure in line with the Statement of Recommended Practice. - 9 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **1 Accounting policies** ## **(Continued)** Support costs comprise governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.8 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.9 Taxation** As a registered charity the Society is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992. - 10 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** |Gift Aid donations from Trustees
**4**
**Investment income**
Interest receivable
**5**
**Raising funds**
Investment management
**6**
**Charitable activities**
Direct expenditure re Peru
Grant funding of activities (see note 7)
Governance and support costs||| |---|---|---| |||| |||| - 11 - **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **7 Grants payable** |**Grants to institutions:**
Royal College of Surgeons of Edinburgh
Guys & St Thomas's Hospital
Royal Opera House
Open University
Kings College London
Dentaid
Water Aid
Other
**Grants to individuals**
**8**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements|**2025**
**£**
3,637
2,674
-
-
1,670
-
-
2,530
**10,511**
**3,863**
**14,374**
**2025**
**£**
3,300|**2024**
**£**
2,153
3,186
321,622
10,000
4,502
742
1,637
3,549| |---|---|---| |||347,391
570| |||347,961| |||**2024**
**£**
3,600| ## **9 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. The sum of £2,203 (2024 - £3,160) was reimbursed in the year to one (2024 - two) Trustees in respect of costs associated with the objectives of the charity. ## **10 Employees** The average monthly number of employees during the year was: ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. - 12 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **11 Net losses on investments** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Revaluation of investments|(25,504)|(27,650)| |Gain on sale of investments|5,321|3,461| ||(20,183)|(24,189)| - 13 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **12 Fixed asset investments** ||**Wine Portfolio**| |---|---| ||**£**| |**Cost or valuation**|| |At 05 April 2024|109,233| |Additions|7,270| |Valuation changes|(20,183)| |Disposals|(5,321)| |At 5 April 2025|90,999| |**Carrying amount**|| |At 05 April 2025|90,999| |At 05 April 2024|109,233| |**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**14**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2025**
**£**
25,376
**2025**
**£**
4,358
4,266
8,624|**2024**
**£**
5,483| |---|---|---| |||**2024**
**£**
-
13,519| |||13,519| ## **15 Share capital** The company has no share capital being a Charitable Incorporated Organisation. ## **16 Related party transactions** Donations were made by the Trustees in the year of £42,998 (2024 - nil). There were no other disclosable related party transactions during the year (2024 - none). - 14 - ## **INTERNATIONAL ORTHODONTICS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **17 APB Ethical Standard relevant circumstances** In common with many entities of our size we use our independent examiners to assist with the preparation of the accounts. - 15 -