CHARITY REGISTRATION NUMBER: 1178269 The Tasso Foundation (formerly The Madison Foundation) Unaudited Financial Statements 31 May 2025 Jackson & Jackson A trading name of Jackson NicholAs Assie Limited Chartered Certified Accountants & Statutory Auditon Suite 7, Meridian House 62 Station Road, Chingford London E4 7BA
The Tasso Foundation {fomierly The Madison Foundation) Flnanclal Statements Year ended 31 May 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of sh flows Notes to the financial statements
The Tasso Foundation (fomierly The Madison Foundation) Trustees. Annual Report Year ended 31 May 2025 The trustees pre$8nl th$irroport and the unaudited fin8neAal statomgnts of th8 charity for the year ended 31 May 2025. Reference and admlnlstratlve dets118 Reglstered charlty name The Tasso Foundation Ifomedy The Madison Foundation) Charfty reg6¥tratlon number 1178269 Prlnclpal offlce 12 Devonshire Mews Wesl London W1G 6QE The trustees K Amold N Campsie S Amold P Amold - Cttalr L Arnold Independent examlner Jackson Nicholas Assie Limited Suite 7, Meridian House 62 Station Road Chingford London E4 7BA Jacksun Nicholas A3sie Limited Chariered CeriifiedAccounianl.s
The Tasso Foundation (formerly The Madison Foundation) Trustees. Annual Report Year ended 31 May 2025 Objectlves The object of the chanty is lo promote social inclusion by preventing people from becoming soc4ally excluded and assisting those who are soaally exduded lo reintegfale into soaely. In July 2022, tho Charity Cornrni$$ion approved changes to the charity's objeots, widaning the $cope of persons the charity may seek lo assist from the United Kingdom only previously. to the United ngdom and European Union going forward. Purpos•b and alms There are a large number of wonderful charities who pursue aims consistent with our object. Rather than 5•oking lo dupli¢aie what any of those charities do, we have delwminerj th81 the most 8ffioenl way lo pursue our aims is lo make grants lo charities whose activities support our 8im5. st¢rg> govemance and management TTF is a Charitable Incorporalgd Organisalion, govemed aecording to its Constilulion. The original Trustees wero selected by our Trustee Nick Campsie, in his capacity as the founder of TTF. Our previous Trustee, Raymond Campsie, stood down from his role last year. We thank Raymond for his support over several years. Lilian Amold and l joined TTF as Truslegs in April 2023. At that lime. l assumed the role 01 Chair from Nid( Campsie. who remains a Trustee. In case new Trustees are required in the future, those naw Trustees will be recruited by tho incumbent Trustees. using the Incumbent Trustees, extensive connecb.ons within, and experience of, tho charitable sector in the UK. Ensurlng work dellv8rs th• alms To ensure that our grants serye our own charity's objectives, we review aFplications for funding to assess whether an applicant's purpose and objeth'v8s are consistent with our own. For larger donab'ons this assessment will indude one or several meetings between 8 presentatIve of the Tasso Foundation {'TTF'I and a senior representslive of the charity we ao contemplating funding. Prior to July 2022, TTF only made donations lo charities which were themselves regulated charities in England and Wales. As part of the widening of the geographic scope of the charity lo include the European Union in July 2022, the Charity Commission approved that the trustees might thereafter approve donations lo org8nisations which are not formally charities. The TnJslees are alert lo tha high8r degree of risk were they lo do so ancl will un¢J8rt8k8 oddilional due diligence prior to making any such donation, in consideration of those risks. The Trustees have regaryl lo tho Charity Commission's guidance on Publi¢ Bongfit when assessing 8ppIic81ions for fvnding. Dellvery of publlc benefit Numerous public benefits arise from preventing the occiJrr8nce of social exclusion and assisting persons experiencing social exclusion lo reinlegr81e into soaety. Th838 benefits can include a reduced reliance on public ser$, improved skills 8nd employability and in some instances reduced tendency toward criminal behaviour. Thè benefits of reduceL1 soaal exdusion lo the indiviclual concemed are manifold in terms of health and wellbeing. Jackson Nichol Assie Limiied Clk7nered CenifiedAecountants
The Tasso Foundation (fomierly The Madison Foundation) Trustees. Annual Report Year ended 31 May 2025 It is often difficult lo appraise the exact impact a charity has in lemis of public benefit, as the results of charitable interventions can be hard to quantify. In assessing applications for grants, the Trustees review any quantified demonstration of impact. wttere available. ere such evidence is not availabl&, the Trustees rely on more anecdotal Infomialion and their own extensive expenen¢e of ch8n18ble work lo judge the likely efficacy of the applieant's work. Flnanclal revlew The prinapal fundir¢g source for the charity is our Trusl98s We expect this lo remain the case going lorward and have no plans for a wide fundraising campaign. We are, however, receptive to individual approaches from individual8 and organisalions which Share our aims. As of 31 May 2025, had reserves of £195.98312024." £251,080), all of which were unrestricted. TTF had liabilities 8t the end of the reporting period of £28,()JO. This was for a loan received from N Campsie in relation 10 8 £28.000 donation he made on behaff of the charity to HMP Leicoster. Re8errfes pollcy Our funds are held in cash. The charity has negligible operating costs arKJ all labour including that of myself and my fellow Trustees is provided on a voluntary basis. This allows us lo direct essentially all of our income directly to front-line charitsble purposes. Our reseryes policy is lo havo al all times a minimum of six months 0rating costs. As our operating costs are and are expected to remain negligible, this r8serves policy is moot in practice. Plans for the future During the financial year we made donations totalling £63,271 {2024.' £25,595110 8 range of charities assisting people experiencing a wide range of disadvanlagos induding having a criminal record. suffering trom crime, limited educational opportunrties or a physical or other disability. We have been imprèsserj by the volume and range of funding applications we have received, which has vindicated the Trustee's decision lo form the charity, and focus on these areas of disadvantage. {al the Tnjstees are responsible for preparing the Trustees. Report and the financial statemen18 in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice., {bl Charities Act requir8S th8 Trustegs musl Th)1 approve the financial statements unless th9y aro satisfied that they give a true and fair view of the slate of affairs of the charity and of the surplus or deficit profil or loss of the charity for that period., (c in preparing the financial statèments the directors are required to". select suitable accounting poliaes and then apply them consistently.. make judg8rnent5 and accotjnting eslimales that are reasonable and prudent., State whether applicable aecounling standards h8ve been followed, subject lo any material departures disdosed and explained in the finanoal s181ements', and prepare the financial statements on the going concern basis unless it 1$ in8ppropn.ale lo presume that the charity will continue in business. Jackson Nicholiu A.ssie Limiled Chariered CertifiedAccouni¢mi.¥
The Tasso Foundation (fomerly The Madison Foundation) Trustees. Annual Report Year ended 31 May 2025 Id) the Trustees are responsible for keeping adequate a(xounling records that aro sufficient to show and explain the Company's tranSalOnS and disclose with reasonable accuracy al any lime the financial FKJsilion of the charity and that enabl8 them to ensure that th8 financial statements comkly with the Charities Act 2011; {e} th8 Tnjstees are r85ponwble for safeguarding the assets of the chafi'ty and hence for tsking reasonabl6 st8ps for the preventson and delects'on of traud and other irregularib"es,' arKI where appropriate. the Trustees are responsible for the malnlenanc8 and inlegnty of th8 corwrate and finanaal InfOallon induded on the charity's website. (o The trustees, annual report was approved on 20 January 2026 and signgd on behaff of the board of trustees by.. P Arnold Trustee (Chairl Jacks'on NicholafAssie Limiled C.'hariepedCertifiedAccotsniants
The Tasso Foundation (fornierly The Madison Foundation) Indèpendent Examinerfs Report to the Trustees of The Tasso Foundation (formerly The Madison Foundatlon) Year ended 31 May 2025 I report lo the trustees on my examination of the finanal slalemenls of The Tasso Foundation Iformedy The Madison Foundalionl {'Ihe charily'l for 117a year ended 31 May 2025. Re8ponslbllltl98 and bas1$ of report As the trusle6s of the charity you are responsible for the praparalion of the financial staloments in accordance Wit the requirements of the Charities Act 2011 {'Ihe Act'i. I report in r8SPeCt of my examination of th8 charity's financial statements carried out under section 145 of the 2011 Act and in Carrying out my examination I have followed 811 the applicable Directions givèn by the Charity Commission un¢Jer soction 14515llbl of th8 Act. Independent oxamlnefs 8tatèmen¢ I have complgled my ex8minalion. I confimi that no material matters have ¢ome lo my attention in connection with the examination gimng me cause to believe that in any material respect.. accounb.ng records were not kept in respect of the charity a$ required by sèction 130 of the Act,, or the financial slalements do not accord with those records.. or the financial st8temenls do not comply with the 8pplicable requirements conceming the fom and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give 8 'true and f8if wew which is not a matter considered as part of 8n independent examination. I have no concems and h8ve come across no other matters in connection with the examination lo which 8tt8nb.on should be draw reached. in this report in order lo enablg a propèr undgrstanding of the aceounts lo be John Assie FCCA Independent Examiner Jackson Nicholas Assie Limit Chartered Certified Accountants Suite 7. Meridian House 62 Station Road Chingford London E4 7BA 21 January 2026 Jacknon Niehol(u Assie Limiled C17arieredCerlifiedAccoun¢anis
The Tasso Foundation (formerly The Madison Foundation) statement of Flnancial Actlvltles Year ended 31 May 2025 2025 Unrestricted funds Total funds Total funds 2024 In¢ome and endowments Donalions and leg8ue$ Investment in¢ome 1,143 8,238 1,143 8,238 333 1.519 Total Income 9.381 9.381 1.852 Expenditure Expenditure on tharitable a¢ts'viti8S Total expendlture {64,478) {64.4781 (64.4781 164,4781 126,795) 126,795} Net expendlture and net movement In funds 155,0971 {55,0971 124,9431 Reconclllatlon of funds Total funds brought forward Total lund* caryl¢d loard 251,080 195,983 251,080 195.983 276,023 251.080 The st?t8ment of financial activities includ8$ all gains and losses recognised in the year. All income and axpendilure derive from Continuing activities. The notes on pAges 9 to 13 fom part of these finattci81 statements. Jackson NlcholasAssie Limiied CharleredCertifiedAccounianls
The Tasso Foundation (fomierly The Madison Foundation) ststement of Flnancial Posltion 31 May 2025 2025 2024 Ntst• Current as8•ts Cash at bank and in hand 223,983 251,080 Credltoys: amounts falllng due wlthln one year Net current assets 12 {28,Tr)0) 195,983 251.080 Total assets leB$ current Ilabllltles 195,983 251,080 Funds of the charlty Unre$lricied funds 195,983 2S1,080 251,080 Tot•1 charfty lund8 13 195,983 These financial slatamenls were approved by the board of trustee$ and aUthOsed for issue on 20 January 2026, and ar8 signed on behalf of the boord by.. P Amold Trus18e Campsle Trus The notes on pages 9 ¢0 13 forni part of thue financial sthtements. Jackson Nicholas Assie knmiled CharteredCenifiedAccounranis
The Tasso Foundation (formerly The Madison Foundation) Ststement of Cash Flows Year ended 31 May 2025 2025 2024 Cash flovn from operatlng actlvltles Nat expenditure {55,09n (24,9431 Adjustments for.. Other interest receivable and similar income {8,2381 (1,5191 Changes in.. Trade and olh8r ¢redilors 28,000 1210) 126,672) Cash generated from OFeralions 135,3351 Interest received 8,238 1,519 Net cash us8d in oparatsng acts"vities {27,09n 125,1531 Net decrease In cash and cash equlvjlents Cash and cash equlvalents at beglnnlng of year C•8h and cash equlvalents at end of year 127,0971 251,080 125,153) 276,233 223,983 251,080 Jackson Nicholw Assie Limiled CharleredCeriifiedAccouniat#.%
The Tasso Foundation (fomerly The Madison Foundation) Notes to the Flnanclal Statements Year ended 31 May 2025 General Infomiallon The chanty is a public benefit entity and a registered charity in England and Wales and is Charitable Incorpor8led Organisatson. The address of the principal office is 12 Devonshire Mew8 West, London. W1G 6QE. ststement of compllance The financial slalements have bgen prepared in accordance wilh the Slalemenl of Recommended Practice.. Accounting and Reporting by Charitses preparing their accounts in 8e£ordance with th& Financial Reportir¥J Standard applicable in the UK and Republic of Iland IFRS1021 issued in October 2019 and the ffnancial reporting standard applicable in the United Kingdom and Republic of Ireland IFRS1021 and the Charitiés Act 2011, the Companiès Act 20th5 and UK Generally Accepted Practice as it applies from 1 January 2019. AccouTrtlng pollclè# Ba81s of preparntlon The financial statements have been ppared on the historical cost basis. The financial statements arg prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainlios about the charity's ability lo continug. Judgements and key 80urces of estlmatlon uncertalnty The preparation of the fin8nual slalemenls requires management to make judgements, estimates and assumptions that affect the amounts reported. These eslimat8s and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the arcumstances. There have not been 8ny judgements (apart from those involving eslimalionsl Ih8t management has made in th& process of applying the entity's accounting polictès and that have the most signrfi¢ant effect on the amounts recognised in the financial statements. Fund accountlng Unreslricled funds are available for use at the discretion of the trustees lo further 8ny of the charity's purposes. D69ignated funds are unrestrici&J fund$ eamiarkod by th8 Iruslees for particular future project or commitment. Restricted funds are subjected lo r8Striction$ on their expenditure declarod by thè donor orthrough the terns of an appeal and fall into ong of tsyo sub4lasses.' restricted income fvnds or endowment fvnds. Jack¥on Nichol Assie Limited Chariered CerlifiedAecounionis
The Tasso Foundation (formerly The Madison Foundation) Notes to the Flnancial Ststements (coniin¢ Year ended 31 May 2025 A¢¢ountlng pollcles (corRlnuadJ Incomlng resource$ All incoming r8sources ar8 induded in the $talement of financial 8Ctivi118s when enlitlemenl has passed to the charity., it is probable that the economic benefits associatecl with the transaction will flow lo the tharity and the amount can be raliably measurod. The following specffic policies are applied lo particular categories of income.. income from donations or grants is recognised when there is evidence of enb"Uemgnt to the gift, rgcgipl is probable and its amount Gan be measured reliatAy. legacy income is recognised when receipt is probable and enlillement is 8St8blished. in¢ome from donated wd8 is measured at the fair value of the goods unless this is imyaclic81 to mgasure reliably, in which case the value is derived from the cost lo the donor or the esb'maled resale value. Donaed faalilies and serwces are recognised in the accounts when recaved if the value can be roliably measured. No amounts are induded for the contribution of gengral vdunteers. inc(yne from contracts for the supply of servi¢%s is recognis8d with the delivery of the contracted service. This is ctassffi8d as unrèstricted funds unless there is a conlraclual requirement for it lo be spent on a particular purpose and retumed rf unspgnt, in which case It may b8 reg8rded as restiicted. ReBource• expended Expenditure is recognised on an arualS basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is dassified undèr he&Jings of the statement offinancial activitigs lo which il relates.. exponditure on raising ftsnds includes the costs of all fundf8ising activities, events, non- tharilable trading acts"vilies, and the sale of donated goods. expenditure charitsbl8 activities indudes all costs incurred by a chanty in undertaking actiwlies that further ils charitsble aims for th8 benefit of its beneficianes, including those support costs and costs relating lo the govemance of the charity apportioned to charitabl8 actiwties. other expenditure indud8s all expenditure that is neither related to raising funds forlhtr tharity nor part of its expenditure on tharilable &livrties. All cos15 are allocated to expenditure categones reflecting the use of the resource. DireGI costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the acliwlies they contribute to on 8 reasonable, justifiable and consislenl basis. Jackgon Nicholas Assie Limiled C'harlered CepiifiedAc¢ounlants io
The Tasso Foundation (fomierly The Madison Foundation) Notes to the Financlal Statements (eondnwd) Year ended 31 May 2025 A¢Gountlng pollcle8 (contlnue Flnan¢lal Instrum•nts A financial asset or 8 finanaal liabillly is recogniseo only when th8 entity bècomes a party to th8 contractual provisions of th8 instrument. 8asiG finan81 instruments are initially recognised al the amount receivable or payable including any related transaction costs, unless the aangement conslilul85 a financing tr8ns8¢tion, where Tt 1$ recognised al the present value of the fLtture payments discounted al a market r818 of inler8st for a similar d8bt inslNmenl. Current assets and ¢urrent liabilities are subsequgntly measured at the cash or otherconsidw81ion expected lo be paid or received and not discounled. Dabt inslrum6nts are subsequenuy measur8d at aM0.$$d cost. Donatlons and legacle8 Unrestricted Total Funds Unrostricted Total Funds Funds 2025 Funds 2024 Donatlons Oonalions 1.143 1,143 333 333 Inve•tment Income Unreslrieled Total Fund8 Unreslricled Tot81 Funds Funds 2025 Funds 2024 Bank interest receivable 8.238 8,238 1,519 1,519 Expendlture on charttable aettvttles by fund type Unreslricled Total Funds Unr8stricled Total Funds Funds 2026 Funds 2024 To promote swal in¢lusion within Unrted Kingdom Support Costs 63,277 1,201 63,277 1,201 25,595 1,200 26,795 25,595 1.200 64,478 64,478 26,795 Jacks'on NicholaFAssiÉ b"miled CharteredCertifiedAe¢ounlani.s
The Tasso Foundation (fomierly The Madison Foundation) Notes to the Flnancial Ststements {conth1j Year ended 31 May 2025 Expendtture on charftable actlvltles by actlvlty type Activities undertaken diredy Support costs Total funds 2025 Total fund 2024 To pMOte soaal inclusion withln United Kingdom Govemance costs 63,277 83,277 1.201 25.595 1,200 1,201 63.277 1,201 64,478 26.795 Analys1• of support costs Total 2026 T¢)tal 2024 Govemance costs 1,201 1,2CKJ Indepgndent examlnatlon fee8 2026 2024 Fees payable lo the independent examiner for. Independ8nt gxaminabon of the finano8I statements 990 10. Staff costs There We no staff costs or employeè bgnefrts for the reporting year {2024.' Nil). The av8rage head count of employees during the year was Nil {2024.' Nill. No employee received employee ben8fSts of more than £60,000 during thè y8ar12024'. Nil}. 11. Trustee rnmuneratlon and expense8 no romuneralion or other b8nefils from OMOyMent with the charity or a relatod entity were r8ceive(Y by Ihe trustees., or A Injstge relatèd lo the charity had a pérsonal Intsrest in any contrad or Iran¥action entered into by the charity dunng the year {seo note 181 no Iruslee expens85 have been incurre¢J 12. Credltors: amounts fttlllng due wlthln one year 2026 2024 Other loans 28,000 Jackson Nicholas Assie Lipniled c.11¢eredCen1IledACeoUnialS 12
The Tasso Foundation (formerly The Madison Foundation) Notes to the Flnanclal Statements (condnwl) Year ended 31 May 2025 13. Analys1$ of charftable fvnds Unrestrl¢ted lunds Al 1 June 2024 At Income Expendrture 31 May 2025 Gera1 funds 251.080 9.381 164,4781 195,983 Al 1 June 223 At Income Expenditure 31 May 2024 1.852 General funds 276,023 {26,795} 251,080 1& Analysls of net asiets between funds Unreslricled Total Funds Funds 2025 Cuffenl assels Creditors less than 1 year Net assets 223,983 128,1J)01 223,983 128,0001 195,983 195,983 Unrestricted Total Funds Funds 2024 Currgnl assets Creditors less than 1 year 251,080 251,080 Net assets 251,08 251,080 15. Analys1• of changes In net debt At At 1 Jun 2024 Cash flows 31 May 2026 251,080 127,097) Cash al bank and in hand 223,983 16. Related partles During th8 reporting p0ri0d N Campsie ITrusleg1 donated £28,000 lo HMP L81cester Ilo fund the Bearing Gfft programme} on bghalf of the charity. AS with all donations made by the charity due process w8s carried out in line with the charity's policies. The transaction has been Ire8led as an inlergsl free loan in the finanaal slalemenls and will be repaid as the eartiesl opportunity. Jack¥on Nicholaw Assie Limiied C"17ariervd CepiiJiedA¢¢oztnitmis 13