Charity registration number 1183658
Temple Tree Foundation
Annual report and unaudited financial statements
For the period ended 31 March 2022
55 Loudoun Road St John's Wood London NW8 0DL
TEMPLE TREE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Deborah Stratford David Stratford Tracey Ewen Powell Charity number 1183658 Independent examiner MGR Weston Kay LLP 55 Loudoun Road St John's Wood London NW8 0DL
TEMPLE TREE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
TEMPLE TREE FOUNDATION
TRUSTEES' REPORT
FOR THE PERIOD ENDED 31 MARCH 2022
The trustees present their annual report and financial statements for the period ended 31 March 2022.
Name and registered office of the Charity
The full name of the Charity is Temple Tree Foundation, its registered office and principal operating address is 55 Loudoun Road, London, NW8 0DL.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Deed, the Charities Act 2011 and "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).
Objectives and activities
The initial objectives are to make grants and donations to charities and individuals who generally are not in receipt of high scale donations. The focus is on education, social, health and environmental projects that can be anywhere in the world that the Trustees identify they would like to help. Donations may be made as individuals payments but sometimes the Charity may take a commitment for multiple years.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Achievements and performance
The Charity continued to support two projects for a 3 year term. The 3 years have now expired and having reviewed the position of those charities, Temple Tree Foundation is not seeking to guarantee support for multiple years, but may continue with adhoc donations. The Charity continues to consider applications from small charities and to donate to charities both in the UK and overseas when identified.
Financial review
As detailed in the Statement of Financial Activities on page 5, the Charity’s reserves at the year-end amounted to £151,677 of unrestricted funds and £Nil of restricted funds (2020: £68,842 of unrestricted funds and £Nil of restricted funds). The CIO will hold these reserves and further funds as they are received as a buffer for operating costs. In addition, the funds are available for grants and donations in line with the charitable objectives.
Structure, governance and management
The Charity, a Charitable Incorporated Organisation, was registered as a Charity on 31st May 2019. Registration number: 1156782. The Constitution is a CIO Foundation and was created by a Deed executed on 30th October 2018.
The trustees who served during the period and up to the date of signature of the financial statements were: Deborah Stratford
David Stratford Tracey Ewen Powell
A trustee is appointed by recommendation of the Trustees, or by a proposal of a Trustee entitled to vote at a meeting of the Trustees.
Induction and training policies for trustees
The Charity follows the guidelines provided by the Charity Commission.
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TEMPLE TREE FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE PERIOD ENDED 31 MARCH 2022
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 and Wales 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 of the Charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 sufficient 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 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.
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TEMPLE TREE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TEMPLE TREE FOUNDATION
I report to the trustees on my examination of the financial statements of Temple Tree Foundation (the Charity) for the period ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's 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 that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Nigel Walfisz FCA
55 Loudoun Road St John's Wood London NW8 0DL
Dated: 27 January 2023
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TEMPLE TREE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 31 MARCH 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2020 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 100,000 | 100 |
| Investments | 4 | 47 | 48 |
| Other incoming resources | 5 | 25,000 | - |
| Total income | 125,047 | 148 | |
| Expenditure on: | |||
| Charitable activities | 6 | 42,212 | 42,696 |
| Net income/(expenditure) for the period/ | |||
| Net movement in funds | 82,835 | (42,548) | |
| Fund balances at 1 January 2021 | 68,842 | 111,390 | |
| Fund balances at 31 March 2022 | 151,677 | 68,842 |
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
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TEMPLE TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
1 Accounting policies
1.1 Reporting period
The Charity extended its accounting period end date from 31 December to 31 March to align the year end with the UK tax year. As a result, the amounts presented in the financial statements are not entirely comparable.
1.2 Accounting convention
The financial statements have been prepared in accordance with the Charity's deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Such funds may be held in order to finance working capital.
Restricted funds are subject to specific conditions by donors as to how they may be used.
1.5 Incoming resources
Cash donations are recognised on receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Interest income is accounted for on an accruals basis.
1.6 Resource expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.
Charitable activities include costs of services and support costs and depreciation on related assets.
Governance costs are those cost incurred in the management of the charity's assets, organisational administration, and compliance with constitutional and statutory requirements.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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TEMPLE TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
1.8 Taxation
The charity is exempt from tax on income and gains falling within the Taxes Act 1988, s. 505 or the Taxation of Chargeable Gains Act 1992, s. 252 to the extent that these are applied to its charitable objectives.
The charity is not VAT registered. As such the expenditure is shown inclusive of VAT.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2020 | |
| £ | £ | |
| Donations and gifts | 100,000 | 100 |
4 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2020 | |
| £ | £ | |
| Interest receivable | 47 | 48 |
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TEMPLE TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2022
5 Other incoming resources
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2022 | 2020 | |
| £ | £ | |
| Gift aid | 25,000 | - |
6 Charitable activities
| Donations Bank charges Share of governance costs (see note 7) |
2022 £ 40,401 11 40,412 1,800 42,212 |
2020 £ 40,896 - |
|---|---|---|
| 40,896 1,800 |
||
| 42,696 |
The charity has taken advantage of the exemption available in accordance with SORP Section 16 'Presentation and disclosure of grant-making activities' not to disclose grant recipients and amounts.
7 Support costs
| Support costs Governance costs £ £ Independent examiner fees - 1,800 Accountancy - - - 1,800 Analysed between Charitable activities - 1,800 |
2022 Support costs Governance costs £ £ £ 1,800 - - - - 1,800 1,800 - 1,800 1,800 - 1,800 |
2020 £ - 1,800 |
|---|---|---|
| 1,800 | ||
| 1,800 |
Governance costs represent the support costs incurred in administering, the management of charity affairs and complying with its statutory and constitutional obligations.
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TEMPLE TREE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2022
8 Trustees
The average number of trustees during the period was 3 (2020: 3).
No trustee expenses have been incurred during the period.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the period.
9 Employees
There were no employees during the year.
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2022 | 2020 | |
| £ | £ | |
| Accruals and deferred income | 1,000 | 1,000 |
11 Related party transactions
There were no disclosable related party transactions during the period.
12 Charity information
Temple Tree Foundation is a Charitable Incorporated Organisation incorporated in England and Wales. The principal place of business is 55 Loudoun Road, London, NW8 0DL.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
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