## Trustees’ Annual Report for the period ## From 1 January 2024 Period start date To 31 December 2024 Period end date Charity name: The Telos Foundation Charity registration number: 1183271 ## Objectives and Activities ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The Charity’s objects (“the Objects”)
a.To advance education and research for
charity leaders to enable charities to sustain
their services into the future in subjects
relating to leadership
b.To make grants and donations to charities
chosen by the trustees that are specifically
recognised for their ability to design and
deliver training programmes to develop the
individual capabilities, competencies and
understanding of future strategic leaders, to
enable charities to sustain their success
over the long term; and
c.To make grants and donations to charities
chosen by the trustees that are specifically
recognised for their ability to design, conduct
and publish research to add to the collective
knowledge of an approach to the leadership
of organisations, that creates benefit for
stakeholders and society through a focus on
purpose, values, relationships and the long
term.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|Provided bursaries to individual charity
leaders to attend Windsor Leadership
programmes.
Each Bursary holder provides a reflective
statement of their experience and
particularly the impact their learning has
created in their charity for the public benefit.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees have close regard to the
guidance issued by the Charity Commission
on public benefit.| Additional information (optional) You may choose to include further statements where relevant about: ||
SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|Grant-making Policy
The purpose of this policy is to set out the
principles, criteria and processes that
govern how The Telos Foundation makes
grants across all fund types and the
Foundation’s domestic priorities.
A grant is defined as a financial award
made by the Foundation from its funds to
support charitable activities by registered
charities.
Under the terms of the constitution, the
Board of Trustees will apply funds to the
“Objects of The Telos Foundation”
Grant Making Criteria
The aim of the grant-making criteria is to
provide clear information from the Board of
Trustees to those individuals and
organisations who apply for grants and to
whom grants are made.
Clear guidance on criteria for applications
from individuals and groups is a part of this
policy. The Trustees may review these
criteria from time to time and, if necessary,
amend or update them.
Grant requests which the Board of Trustees
will normally support are:
§
Organisations nominated by the
Trustees
§
Current or potential charity leaders
§
Support research to enable a charity to
be sustainable
§
Enhance the potential to achieve long-
term sustainable outcome.
Grants will not normally be made
retrospectively.| |Policy on social investment
including program related
investment|Para 1.38|N/A| |Contribution made by
volunteers|Para 1.38|N/A| |Other||| ## Achievements and Performance ||SO
RP
refer
enc
e|| |---|---|---| |Summ
ary of
the
main
achiev
ement
s of
the
charity
,
identif
ying
the
differe
nce
the
charity
’s
work
has
made
to the
circum
stance
s of its
benefi
ciaries
and
any
wider
benefit
s to
societ
y as a
whole.|Par
a
1.20|The main achievement has been to sponsor three individuals from quite
different charities to attend Windsor Leadership programmes. These
individuals would not have been able to attend the ‘Emerging Strategic
Leaders’ and othe leadership programmes if The Telos Foundation had not
provided these bursaries.
List of Beneficiaries2024
**Name**
**Role**
**Organisaton**
**Programme**
Beth
Nicholson
Senior
Philanthropy
Manager
The Trussell
Trust and
Warwickshire
Wildlife Trust
Emerging Strategic
Leaders 2024
Susie Doyle
Chief of Staf
The Auckland
Project
Women in Leadership
Programme 2024
Dr Aigbokhai
Henry
Ohiwerei
GP & Trustee
Board member
The Namu
Project
Emerging Strategic
Leaders 2024
Dr Helen
McColl
Natonal Director
of Clinical Services
Freedom from
Torture
Developing Leaders
Programme 2024
Niki Michael
CEO
Playskill
Developing Leaders
Programme 2024
As a result of these individuals attending the programme, they have been
able to return to their charities as better, well equipped leaders. We are
able, through regular communication with our bursary holders, to observe
the growth and impact of their charities on society.| ## Additional information (optional) You may choose to include further statements where relevant about: |
Achievements against
objectives set|
Para 1.41|
Our objective is to utilise all our funds to
provide 3-5 bursaries per year. This was
achieved in 2024.| |---|---|---| |Performance of fundraising
activities against objectives|Para 1.41|N/A| |set||| |---|---|---| |Investment performance
against objectives|Para 1.41|N/A| |Other||| ## Financial Review |Financial Review||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|Contained in the report of the Annual
Accounts 2024| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|| |Amount of reserves held|Para 1.22|| |Reasons for holding zero
reserves|Para 1.22|| |Details of fund materially in
deficit|Para 1.24|| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|| |Additional information (optional)
You may choose to include further statements where relevant about:|Additional information (optional)
You may choose to include further statements where relevant about:|Additional information (optional)
You may choose to include further statements where relevant about:| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|The Telos Foundation receives its funds
from Telos Partners International Limited.
Telos Partners International Limited
invoices quarterly Telos Partners LLP. This,
in return for their use of the intellectual
property (IP), held by The Telos
Foundation.| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|N/A| |A description of the principal
risks facing the charity|Para 1.46|N/A| |Other||| ## Structure, Governance and Management |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|A deed of trust| |How is the charity
constituted?
(e.g. unincorporated
association, CIO)|Para 1.25|Limited Company, limited by guarantee| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|N/A| ## Additional information (optional) ## You may choose to include further statements where relevant about: |
Policies and procedures
adopted for the induction
and training of trustees|
Para 1.51|
N/A| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|N/A| |Relationship with any
related parties|Para 1.51|N/A| |Other||| ## Reference and Administrative details |Charity name|The Telos Foundation| |---|---| |Other name the charity uses|N/A| |Registered charity number|1183271| |Charity’s principal address|Admiral House
St Leonard’s Road,
Windsor
Berkshire
SL4 3BL| ## Names of the charity trustees who manage the charity |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|Trustee name|Office (if any)|Dates acted if not for whole
year|Name of person (or body) entitled to
appoint trustee (ifany)| |---|---|---|---|---| ||Alan Davies|Chair||| ||Peter Ward|||| ||Coralie Hooper|||| ||Iain Cameron|||| ||Sarah Wright|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved Director name Name of trustees holding title to property belonging to the charity Trustee name Dates acted if not for whole year ## Funds held as custodian trustees on behalf of others Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets ## Additional information (optional) Names and addresses of advisers (Optional information) Type of Name Address adviser Name of chief executive or names of senior staff members (Optional information) ## Exemptions from disclosure Reason for non-disclosure of key personnel details ## Other optional information ## Declarations The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees Signature(s) Jennifer Liska Full name(s) Alan Davies Position (e.g., Secretary, Chair Company Secretary Chair, etc) Date 07/08/2025 Registered Charity Number : 1183271 ## **THE TELOS FOUNDATION** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## **THE TELOS FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** FOR THE YEAR ENDED 31 DECEMBER 2024 **Trustees** Alan Davies Peter Ward Iain Cameron Sarah Wright Coralie Hooper **Charity Number** 1183271 **Company Number** 06625059 **Registered Office** Admiral House St Leonards Road Windsor SL4 3BL **Independent Examiner** Andrew Campbell FCCA Campbell Accountancy Limited Old Chapel, The Green Lower Boddington NN11 6YE ## **THE TELOS FOUNDATION** ## **CONTENTS** FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees' Report Independent Examiner's Report Statement of Finanical Activities Balance Sheet Notes to the Financial Statements ## **THE TELOS FOUNDATION** ## **TRUSTEES' REPORT** ## FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024 . ## **Trustees' report and financial statements** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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). ## **Trustees** The trustees who served during the year and up to the date of signature of the financial statements were: Alan Davies Peter Ward Iain Cameron Sarah Wright Coralie Hooper ## **Trustees' responsibilities statement** 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). Company Law 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, including the income and expenditure, of the charitable company 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 UK 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 adequate 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 Companies Act 2006. 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. This report was approved by the trustee and signed on its behalf by: ---------------------------------------------------Alan Davies Trustee Date : 27 June 2025 Page 1 of 9 ## **THE TELOS FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT** FOR THE YEAR ENDED 31 DECEMBER 2024 ## **Independent Examiner’s Report to the Trustees of The Telos Foundation** I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which consists of the statement of financial activities,balance sheet and the related notes ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiners statement** 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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than anyrequirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. Name: Andrew Campbell FCCA Date: 27 June 2025 Page 2 of 9 ## **THE TELOS FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** FOR THE YEAR ENDED 31 DECEMBER 2024 |**Recommended**
**categories by activity**
**Notes**
**Income and**
**endowments from:**
Donations and legacies
2
**Total**
**Expenditure on:**
Raising funds
3
Charitable activities
4
Other
6
**Total**
**Net**
**income/(expenditure)**
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**£**
37,233
**37,233**
205
40,894
112
**41,211**
**(3,978)**
**(3,978)**
3,983
**5**|**Restricted**
**income funds**
**£**
34,563
**34,563**
-
34,563
-
**34,563**
**-**
**-**
50
**50**|**Total Funds**
**2024**
**£**
71,796
**71,796**
205
75,457
112
**75,774**
**(3,978)**
**(3,978)**
4,033
**55**|**Total Funds**
**2023**
**£**
59,037| |---|---|---|---|---| |||||**59,037**| |||||172
74,075
121| |||||**74,368**| |||||**(15,331)**| |||||**(15,331)**
19,364| |||||**4,033**| Page 3 of 9 ## **THE TELOS FOUNDATION** ## **BALANCE SHEET** FOR THE YEAR ENDED 31 DECEMBER 2024 |**Recommended categories by**
**activity**
**Notes**
Fixed assets
Investments
7
**Total fxed assets**
Current assets
Cash at bank and in hand
8
**Total current assets**
Creditors: amounts falling due within
one year
9
**Net current assets/(liabilities)**
**Total net assets or liabilities**
**Funds of the Charity**
Unrestricted funds
10
Restricted income funds
10
Endowment funds
10
**Total funds**|**Total Funds 2024**
**£**
3
**3**
55
**55**
3
**52**
**55**
5
50
-
**55**|**Total Funds 2023**
**£**
3| |---|---|---| |||**3**| |||4,033
**4,033**
3
**4,030**| |||**4,033**| |||3,983
50
-| |||**4,033**| For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 27 June 2025 and signed on its behalf by: Alan Davies Director Date : 27 June 2025 Page 4 of 9 ## **THE TELOS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 DECEMBER 2024 ## **1. Accounting Policies** The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. ## **1.1 Basis of preparation** These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts have been prepared 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)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. These accounts are presented in pounds sterling and rounded to the nearest pound. ## **1.2 Going concern** The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts. ## **1.3 Income from donations or grants** Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal o'er is made in writing. If a donation or grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred. ## **1.4 Tax reclaims on donations and gifts** Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. ## **1.5 Expenditure** Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered. Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members. Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent. All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis. Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity. ## **1.6 Taxation** The organisation is a registered charity and has no liability to income tax or corporation tax on its charitable activities during the year. ## **1.7 Fund accounting** Unrestricted funds are those 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. Page 5 of 9 ## **2. Income from Donations and Legacies** |**Analysis**
**Unrestricted funds**
**Restricted income**
**funds**
**£**
**£**
Donation
and gifts
37,233
33,050
Gift Aid
-
1,513
**37,233**
**34,563**
**3. Expenditure on Raising Funds**
**Analysis**
Support Costs
**4. Expenditure on Charitable Activities**
**Analysis**
Bank charges
Grants paid
Charity management & administration
Support Costs
**5. Support Costs**
**Analysis**
Printing and stationery
**Governance Costs**
Accountants fees||**Total funds 2024**
**£**
70,283
1,513
**71,796**
**Total funds 2024**
**£**
205|**Total funds 2023**
**£**
53,514
5,523
**59,037**
**Total funds 2023**
**£**
172| |---|---|---|---| ||||| ||||| |||**205**|**172**| |||**Total funds 2024**
**£**
9
74,207
978
263|**Total funds 2023**
**£**
6
72,718
1,161
190| |||**75,457**|**74,075**| |||**Total funds 2024**
**£**
410
58|**Total funds 2023**
**£**
344
18| |||**468**|**362**| ## **3. Expenditure on Raising Funds** ## **4. Expenditure on Charitable Activities** ## **5. Support Costs** ## **6. Other Expenditure** |**Analysis**
Other Expenditure|**Unrestricted funds**
**£**
112
**112**|**Total funds 2024**
**£**
112
**112**|**Total funds 2023**
**£**
121| |---|---|---|---| ||||**121**| Page 6 of 9 ## **7. Investments** |**Carrying(fair) value at beginning of period**
Add: additions to investments during period*
Less: disposals at carrying value
Less: impairments
Add: Reversal of impairments
Add / (deduct): transfer in/ (out) in the period
Add / (deduct): netgain / (loss)on revaluation
Carrying(fair) value at end of year|**Other**
**£**
3
-
-
-
-
-
-
**3**| |---|---| The company's investments at the balance sheet date in the share capital of companies include the following: ## **Telos Partners International Limited** Registered office: Admiral House, St Leonards Road, Windsor, Berkshire, SL4 3BL Nature of business: Licencing of Intellectual Property Class of share: Ordinary £1 shares representing 100% of the issued equity share capital |Aggregate capital and reserves
Loss for the year|**2024**
£7,318
£(19,264)|**2023**
£26,582
£(10,943)| |---|---|---| **Tomorrow's Company (Enterprises) Limited** Registered office: Admiral House (c/o The Telos Foundation),St Leonard's Road, Windsor, SL4 3BL Nature of business: Public relations and communications Class of share: Ordinary £1 shares representing 100% of the issued equity share capital |Aggregate capital and reserves
Loss for the year|**2024**
**2023**
£(3,447)
£(1,650)
£(1,798)
£(989)| |---|---| ## **8. Cash at bank and in hand** |**Total funds 2024**
**£**
Cash at bank and in hand
55
**55**
**9. Creditors: Amounts falling due within one year**
**Total funds 2024**
**£**
Other creditors
3
**3**|**Total funds 2023**
**£**
4,033| |---|---| ||**4,033**| ||**Total funds 2023**
**£**
3| ||**3**| ## **9. Creditors: Amounts falling due within one year** Page 7 of 9 ## **10. Charity funds** ## **10.1 Details of material funds held and movements during the CURRENT reporting period** |**Fund names**
**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
**Unrestricted**
**funds**
3,983
37,233
41,211
-
-
5
**Restricted**
**income funds**
50
34,563
34,563
-
-
50
**Total**
**4,033**
**71,796**
**75,774**
**-**
**-**
**55**
**10.2 Details of material funds held and movements during the PREVIOUS reporting**
**period**
**Fund names**
**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
**Unrestricted**
**funds**
9,848
29,001
34,866
-
-
3,983
**Restricted**
**income funds**
9,516
30,036
39,502
-
-
50
**Total**
**19,364**
**59,037**
**74,368**
**-**
**-**
**4,033**
**10.3 Transfers between funds**
**This Year**
**Amount**
**£**
Between unrestricted and restricted funds
-
Between endowment and restricted funds
-
Between endowment and unrestricted funds
-
**Last Year**
**Amount**
**£**
Between unrestricted and restricted funds
-
Between endowment and restricted funds
-
Between endowment and unrestricted funds
-|**Fund**
**balances**
**brought**
**forward**
**Income**
**£**
**£**
3,983
37,233
50
34,563|**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
41,211
-
-
5
34,563
-
-
50|**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
41,211
-
-
5
34,563
-
-
50|**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
41,211
-
-
5
34,563
-
-
50|**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
41,211
-
-
5
34,563
-
-
50| |---|---|---|---|---|---| ||**4,033**
**71,796**|**75,774**
**-**||**-**|**55**| ||**19,364**
**59,037**|**74,368**
**-**||**-**|**4,033**| ||||||**Amount**
**£**
-
-
-
**Amount**
**£**
-
-
-| ## **10.2 Details of material funds held and movements during the PREVIOUS reporting period** ## **10.3 Transfers between funds** ## **10.4 Designated funds** There were no designated funds at the year end. ## **11. Transactions with trustees and related parties** ## **11.1 Trustee remuneration and benefits** None of the trustees have been paid any remuneration or received any other benefits from an employment in either the current or previous years for fulfilling their duties. Page 8 of 9 ## **11.2 Trustees' expenses** None of the trustees have been paid any remuneration or received any expenses for fulfilling their dutiesin either the current or previous years. ## **11.3 Transaction(s) with related parties** During the year The Telos Foundation received donations of £37,233 (2023: £29,001) from its wholly owned subsidiary company, Telos Partners International Limited. During the year The Telos Foundation made contributions of £40,563 (2023: £47,251) to Tomorrow's Company (Enterprises) Limited to assist in the funding of research & development work. ## **12. Average Number of Employees** The average number of employees was Nil (2023: Nil) Page 9 of 9 THE TELOS FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 IndtsperKlent Examlner'5 Report to tht Trust**s of Tho Telos Foundatlon I report to the Charity Trustee5 on my examination of the acc¢￿￿ts of charity for the year ended 31 Decernber 2024 whith conslsts of the statement of financial activitie5. balance sheet aThd the related notes Rtsponslbllltles and basls of rtport A5 the charity's trustee5 of the Company land also its directors for the PUryK)ses of company lawl you are responslble for the preparatlon of the accounts in accordante wlth the requirements of the Companles Act 2Crf)6 Ithe 2CIJ6 Act'i. Ha￿n9 satlsfied myself that the accounts of the Company are not requlred to be audlted under Part 16 of the 21X)6 Act and are ellgible for Independent examlnaiion, I report In respect of my examlnation of your charity's accounts a5 carried out under Section 145 of the Charttles Act 2011 I'the 2011 Act'l- In carrylng out my examlnatlon I have followed the Dlreciions glven by the Char5ty Commisslon untler Sectlon 145151 Ibl of the 2011 Act. Independent examlners statement I have completed my exarnination. l ¢onfirm that no matter5 have come to my attentlon In connectlon wlth the examlnatlon glvfng me cause to belleve.. 1. accountlng record5 were not kept In respect of the Company as wulred by Sectlon 386 of the 2rx)6 Act,. or 2. the accounts do not accord wlth those records; or 3. the accounts do not comply ￿th the accountiri8 requlrements of Se¢tlon 396 of the 2LI)6 Act other than any requlrement that the account5 8lve a true and falr vlew whlch Is not a matter con51dered as part of an Independent examinatlon. or 4, the accoiJnt5 have not been prepared In accordance vlth the meth¢)ds and prlnclples of the Statement of Recommended Practlce for accountln8 and reFN)rtln8 by tharltles lappllcable to charitle5 preparing thelr accounts In accordance wlth ihe Flnanclal Reporilng Standard appllcable In the UK and Republfjc of Ireland IFRS 10211. I have no concerns and have come across no other matters In ¢onr*ctlon wlth the examlnatlon to whlch attentlon Sho drawn In thls report In order to enable a proper understandlng of the accou rew 11 FCCA pbell Accountancy Llmlte td Chapel The Green Lower Boddln8ton NN11 6YE Date.. 27 June 2025