2024-03-27-accounts

The TAP Foundation

Trustees Annual Report Year ended 27th March 2024

www.taplondon.org / [e-mail]

2023-2023 Annual Report

02

Reference & administrative information

Trustees

R Jones, Chair - Appointed 27.03.18 S Monaghan - Appointed 27.03.18 C Prendergast - Appointed 27.03.18

Registered address & contact

37 Brierley Road, E11 4JE [e-mail]

Bankers

Santander Business Banking 15-17 Islington High Street, London, N1 9LQ

Report of the trustees for the year ended 27th March 2024

The trustees present their annual report and financial statements of the charity for the year ended 27th March 2024. The financial statements comply with the Charities Act 1993.

Structure, governance and management

The TAP Foundation is a registered charity, number 1177719, and was established as a CIO Foundation on the 27th March 2018. The TAP Foundation is the charitable foundation which distributes funds raised through the work of TAP London, a community interest company which raises funds for homelessness through contactless technology. TAP London (www.taplondon.org) is registered with

Companies House company number 10731372, registered name TAP Local CIC. All funds which are received into The TAP Foundation are distributed in grants which allow the foundation to meet its charitable objectives.

Trustees meet regularly throughout the year to allow for consideration of grant making, risk management, and to analyse the performance of the TAP initiative. As the day to day administration of the TAP initiative is carried out by the associated company TAP Local CIC and the Greater London Authority, the work of the Foundation is largely predicated around the financial management of grant making and the assessment of the compliance and effectiveness of the project. New trustees are appointed by the existing trustees and serve for three years after which they may put themselves forward for re-appointment.

The TAP Foundation provides for a minimum of 3 trustees to a maximum of 12 trustees. All trustees give of their time freely, and no trustee renumeration was paid in the year. Trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises. Neither the Foundation nor any of the trustees have interests with the housing/homelessness sector, but any such interests would be disclosed were they to arise.

2023-2023 Annual Report

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Objectives and activities for the public benefit

The Tap Foundation objectives are to support the relief of poverty, with a focus on the needs of those affected by homelessness. The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and settling the grant making policy for the year.

The Foundation carries out these objects by distributing grants and unrestricted financial aid to charities that relieve poverty and homelessness through public donations made to the TAP initiative. In partnership with its affiliate company TAP Local CIC, the Foundation works to increase awareness of poverty, homelessness & its societal effects. This is achieved through its high-profile partnership with the Mayor of London, BIDs and the associated publicity that has been achieved with the TAP initiative.

Contribution made by volunteers

The TAP Foundation distributes funds raised by its associated organisation TAP London. TAP London is a volunteer-led community interest company, established to raise public funds for homelessness through digital fundraising

methods. Volunteers from TAP London are instrumental to the work of the Foundation, and regularly attend trustee meetings to provide information on the day-to-day administration of the TAP initiative. In addition, the Greater London Authority provides significant resource to the TAP scheme, allowed for under the terms of a MOU between TAP Local CIC and the GLA.

Policy on grant making

From 1st December 2020 until 26th October 2023 The TAP Foundation supported a coalition of 4 youth homelessness charities - all were registered charities or registered housing associations who deliver direct services to rough sleepers. This was reviewed in October 2023, and the board voted to support the London Homelessness Charter, a new coalition managed by Housing Justice which offers smaller grants to charter-subscribed charities.

The TAP Foundation recognises the need for charities to have access to unrestricted funding in order to support: new projects; projects with low public awareness; projects tackling complex and persistent needs. Therefore, it is the foundation’s decision to grant all funds on an unrestricted basis. The trustees continue to evaluate the effectiveness of this strategy.

The charity’s emphasis is to work with organisations which are based locally to the

2023-2023 Annual Report

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sites of TAP London’s digital fundraising points, currently in London only. Applications from national or regional charities outside of this area are unlikely to be considered unless the initiative is established in new locations.

Achievements and performance

The foundation distributed grants totalling £145,864 during the period. At the end of the period, we held £27,574.65 in the account to be granted.

Going concern

The trustees consider that there are no material uncertainties about TTF’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts. The charity has not provided any guarantee and therefore has no potential liability at the date of the statement. There is no debt outstanding at the date of the statement

Financial review

During the reporting period, the foundation received a total of £67,393.89. These funds were comprised of:

Public donations made through contactless (£31,346.28), online at www.taplondon.org (£32,858.15), other (£1,350), recurring donations (£300) and one-off campaigns (£1,539.46)

Reserves policy

A free reserve of £100 is held in the account. This figure is held to protect the account from falling into deficit should an unforeseen charge be levied on the foundation from our contactless provider or otherwise. The relatively small figure is in recognition of the low running costs and risk to the foundation, due to the financial support provided by TAP Local CIC. The trustees review this policy annually.

2023-2023 Annual Report

05

Declarations

The trustees declare that they have approved this report. Signed on behalf of all trustees by:

Ross Jones

Chair

27/01/2025

The TAP Foundation

Trustees Annual Report Year ended 27th March 2024

www.taplondon.org / [e-mail]

Charity Name No (if any) The TAP Foundation 1177719 Receipts and payments accounts CC16a For the period Period start date Period end date To from 3/28/2023 3/31/2024

Section A Receipts and payments

Section A Receipts and payments
A1 Receipts Contactless Donations - Online Donations - Gift Aid - Grant from TAP Local - Corporate Donation - RecurringDonations - Campaigns - Other - - - - Sub total - Total receipts - A3 Payments Grants Paid - - - - - - - - - Sub total - - - Sub total - Total payments - Net of receipts/(payments) - A5 Transfers between funds - A6 Cash funds last year end - Cash funds this year end - Unrestricted funds to the nearest £ Sub total(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table)	to the nearest £ 31,346.28 32,858.15 - - - 300.00 1,539.46 1,350.00 67,394 - - - 67,394 145,864 - - - - - - - - 145,864 - - - 145,864 - 78,470 - 106,044 27,574 Restricted funds	to the nearest £ Endowment funds	Total funds to the nearest £ 31,346 32,858 - - - 300 1,539 1,350 67,394 - - - 67,394 145,864 - - - - - - - - 145,864 - - - 145,864 - 78,470 - 106,044 27,574	Last year to the nearest £
		- - - - - - - - -	31,346	32,270
			32,858	42,948
			-	21,204
			-	717
			-	5,047
			300	420
			1,539	2,174
			1,350	-
			67,394	104,779
		- - -	-	-
			-	-
			-	-
		-	67,394	104,779
		- - - - - - - - - -	145,864	119,319
			-	-
			-	-
			-	-
			-	-
			-	-
			-	-
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			145,864	119,319
		- - -	-	-
			-	-
			-	-
		-	145,864	119,319
	- 78,470	- - - -	- 78,470	- 14,540
	-		-	-
	106,044		106,044	120,584
	27,574		27,574	106,044

Section B Statement of assets and liabilities at the end of the period

Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees	Details Details Details Details Details Signature Ross Jones Total cash funds (agree balances with receipts and payments account(s))	to nearest £ to nearest £ - 106,044 - - 78,470 - - - 27,574 OK OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name Ross Jones Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional)	to nearest £ Endowment funds
			-
			-
			-
			-
			OK
			to nearest £ Endowment funds
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			-
			-
			-
			-
			-
			Current value (optional)
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			Current value (optional)
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			When due (optional)
			Date of approval
	Ross Jones	Ross Jones	1/26/2025

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