## The TAP Foundation # **Trustees Annual Report** Year ended 27th March 2024 www.taplondon.org / trustees@taplondon.org 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 trustees@taplondon.org ## **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 03 ## **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 04 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 / trustees@taplondon.org **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**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**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**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of
approval| ||**Ross Jones**|Ross Jones|1/26/2025| ||||| (HARIIY (OMMISSION E￿lAND AND WALES Independent examinerfs report on the accounts R•wt toth• t￿￿t•4$1 m•mb•r5 of The TAP FtyJndath On •¢¢ounts forth•y•aT 271)￿4 Chnrrty no Ilonyl 1177719 S•t oh p•g I repwt to the trnstees on my examlnalon ol the acr￿unIS of the above llhe Tntsfi for ihe yeai eThYeo 27 103 12021. A•spo￿1b￿￿m nnd b•*h As the Iru5tee5, you are reSpon￿￿e lor the preparaikjn oflll ofr•wt aLr¢Junts requlremenls 01 Charfues Act 2011 llh I repyi kn le9K￿l01 my examlnalon of the Thjsfg accounts caffied out under ae¢¢￿ 145 01 the 2011 A¢¢ In carrylDg oul my examlnaiion, I ha* *1 awiGab* Dlre¢uons given tsy the Chaiity Commis810 under se¢ikx1 145iSMbl ol thè Aci. Independent examinerf¥ l Tha¥* ttoiipieted my examina￿Th. i tyjnfirm Ihal no matsrfai matttrs h¥V statement cune to my attentkn In rAinnedon whh the examlnalk)n whl¢h gl¥e¥ me se io bel*¥e that In. any malertal re5peci the recoffj8 were not kept In accordance wllh 130 of the CharbJes A¢i', or the ac¢ountS not accord the aecouniing recor¢J&,' or the acct)unt* not comFNy *llh the apPl*ab￿ requlTemtnts rxwrnlrvJ the frym and wnteni of acwunls ¥el out In the Gh8rllle$