Charity number: 1181362
THE TIGER TREE FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE TIGER TREE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
THE TIGER TREE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | Catherine Cooper, Trustee |
|---|---|
| Richard Brown, Trustee | |
| Donald Taylor, Trustee | |
| Charity registered number 1181362 Principal office 9 Montagu Mews West London W1H 2EE |
Page 1
THE TIGER TREE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2022 to 31 December 2022.
Objectives and activities
a. Policies and objectives
The Tiger Tree Foundation was set up to promote the advancement of disadvantaged people in the UK and abroad through opportunities for improving health, education and employment.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The first project supported by The Tiger Tree Foundation was to provide funding for Grace Charitable Trust, a small charity helping to provide access to education for remote villages in a jungle area of Tamil Nadu, India. This year the main fundraising initiative was to buy a jeep for a school deep in the heart of tea plantation territory.
The jeep project was necessary because often 40% of school attendees were absent from school. There is no school bus for the children of this area, the roads are in a bad state of repair, they are single track with many hairpin bends which means the turning circle of a bus is too big to make the journey. The children currently get a taxi to school, which is paid for by the teachers. The problem with this is dangerous overcrowding in the taxi and if the taxi driver is hired for another event the children cannot get to school that day. There is one taxi in the area.
It was identified that a jeep with a longer wheelbase would still be able to make the turn. The jeep can take 12 passengers and will make two runs each morning and evening to get the children to school. The cost of the project was £18,000.
Chingford Cricket Club
In 2021 we explored the possibility of rebuilding the clubhouse at Chingford Cricket Club. In 2022 the club received outline planning permission; however, it realised that the pledge from a donor of £500,000 would not be enough to complete the project. A review of applying for other grants to achieve the £1.5m budget needed to complete the project felt that the target was unachievable, so the project has been shelved for the present.
Achievements and performance
a. Main achievements of the Charity
Buying the jeep for Grace Charitable Trust was achieved by appealing for support to existing donors. The £18,000 was raised in part due to a large donation of £12,000 from TTTF managing trustee.
Fundraising took the form of general fundraisers such as quiz nights and Golf Day competitions.
Page 2
THE TIGER TREE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance (continued)
b. Review of activities
Since the charity was established, fundraising focused on the annual visit to India, however, there has been little interest in this lately. In India the atmosphere for visitors has changed slightly due to the precautions taken during covid. Visitors to schools are more formal affairs, detracting from the relaxed style of previous trips. It has also been identified that the cost of a holiday in India for overseas tourists has now become quite expensive, making it less appealing.
Our small database of donors has remained constant but the number of donations for each initiative is diminishing.
In line with previous year’s most funds raised have been as a result of direct emails to previous donors for GCT for specific causes. For CCC most money has been raised by community initiatives like Quiz Nights and BBQs at cricket matches.
As a charity we recognise that going forward we need to pre plan fundraising events and calendar activities
Financial review
a. Reserves policy
The reserves are held to cover the future needs of the charity.
The reserves at 31 December 2022 are £172,489
Structure, governance and management
a. Constitution
The Tiger Tree Foundation is a registered charity, number 1181362, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 3
THE TIGER TREE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Richard Brown (Trustee)
Date: 30 October 2023
Page 4
THE TIGER TREE FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent examiner's report to the Trustees of The Tiger Tree Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
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').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed 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 accounts in accordance with 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
I 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 30 October 2023 S Harrison ICAEW
Millhouse, 32-38 East Street, Rochford, Essex
Page 5
THE TIGER TREE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 18,000 - 18,000 18,000 18,000 - - - - |
Unrestricted funds 2022 £ 87,809 85 87,894 30 30 87,864 84,625 87,864 172,489 |
Total funds 2022 £ 105,809 85 105,894 18,030 18,030 87,864 84,625 87,864 172,489 |
Total funds 2021 £ 22,559 45 22,604 36,556 36,556 (13,952) 98,577 (13,952) 84,625 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 6
THE TIGER TREE FOUNDATION
BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Current assets Debtors 10 Cash at bank and in hand Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 11 Unrestricted funds 11 Total funds |
- 172,489 172,489 |
2022 £ 172,489 172,489 172,489 - 172,489 172,489 |
3,089 81,536 84,625 |
2021 £ 84,625 |
|---|---|---|---|---|
| 84,625 | ||||
| 84,625 | ||||
| - 84,625 |
||||
| 84,625 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Richard Brown (Trustee) Date: 30 October 2023
The notes on pages 8 to 15 form part of these financial statements.
Page 7
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. General information
The Tiger Tree Foundation is a registered charity in England and Wales, registration number 1181362. The principal address is 9 Montagu Mews West, London, W1H 2EE.
The charity's website is www.thetigertree.org
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Tiger Tree Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 8
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Donations Total 2021 |
Restricted funds 2022 Unrestricted funds 2022 £ £ 18,000 87,809 9,231 13,328 |
Total funds 2022 £ 105,809 22,559 |
Total funds 2021 £ 22,559 |
|---|---|---|---|
Page 9
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. Investment income
| Unrestricted funds 2022 £ Interest on gift aid claim 85 Total 2021 45 Analysis of grants Grants to Institutions 2022 £ Grace Charitable Trust - Education 18,000 Total 2021 36,496 |
Total funds 2022 £ 85 45 Total funds 2022 £ 18,000 36,496 |
Total funds 2021 £ 45 |
|---|---|---|
| Total funds 2021 £ 36,496 |
||
5. Analysis of grants
6. Analysis of expenditure on charitable activities
Summary by fund type
| Education Total 2021 |
Restricted funds 2022 Unrestricted funds 2022 £ £ 18,000 30 14,137 22,419 |
Total 2022 £ 18,030 36,556 |
Total 2021 £ 36,556 |
|---|---|---|---|
Page 10
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
7. Analysis of expenditure by activities
| Education Total 2021 |
Grant funding of activities 2022 £ 18,000 36,496 |
Support costs 2022 £ 30 60 |
Total funds 2022 £ 18,030 36,556 |
Total funds 2021 £ 36,556 |
|---|---|---|---|---|
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £ - ( 2021 - £ - ).
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .
10. Debtors
| Due within one year Other debtors |
2022 £ - - |
2021 £ 3,089 |
|---|---|---|
| 3,089 |
Page 11
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Jeep Total of funds |
Balance at 1 January 2022 £ 84,625 - 84,625 |
Income £ 87,894 18,000 105,894 |
Expenditure £ (30) (18,000) (18,030) |
Balance at 31 December 2022 £ 172,489 |
|---|---|---|---|---|
| - | ||||
| 172,489 |
Page 12
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 11. Statement of funds (continued) Statement of funds - prior year Unrestricted funds General Funds - all funds Restricted funds Tablets Jennifer |
Balance at 1 January 2021 £ 93,671 4,906 - 4,906 |
Income £ 13,373 - 9,231 9,231 |
Expenditure £ (22,419) (4,906) (9,231) (14,137) |
Balance at 31 December 2021 £ 84,625 |
|---|---|---|---|---|
| - - |
||||
| - |
Page 13
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
12. Summary of funds
Summary of funds - current year
General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 January 2022 £ 84,625 - 84,625 Balance at 1 January 2021 £ 93,671 4,906 98,577 |
Income £ 87,894 18,000 105,894 Income £ 13,373 9,231 22,604 |
Expenditure £ (30) (18,000) (18,030) Expenditure £ (22,419) (14,137) (36,556) |
Balance at 31 December 2022 £ 172,489 - |
|---|---|---|---|---|
| 172,489 | ||||
| Balance at 31 December 2021 £ 84,625 - |
||||
| 84,625 |
13. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Current assets 172,489 Total 172,489 |
Total funds 2022 £ 172,489 |
|---|---|
| 172,489 |
Page 14
THE TIGER TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Total |
Unrestricted funds 2021 £ 84,625 84,625 |
Total funds 2021 £ 84,625 |
|---|---|---|
| 84,625 |
14. Related party transactions
During the year the charity received donations totalling £95,421 (2021 - £6,567) from CM Cooper £260 (2020 - £2,147) from D Taylor, all Trustees of the charity.
Page 15