Tilley Foundation
Annual Report for the year ended 31 March 2024
Charity Number: 1184722
Tilley Foundation
Reference and Administration details
Year ended 31 March 2024
| Charity Name | Tilley Foundation | |
|---|---|---|
| Registered charity Number | 1184722 | |
| Legal Form | Charitable Incorporated Organisation | |
| Governing Document | Foundation registered 01 August 2019 | |
| Principal Address | 7-9 The Avenue | |
| Eastbourne | ||
| East Sussex | ||
| BN21 3YA | ||
| Trustees | Chair | Mr Patrick Tilley |
| Mrs Iwona Tilley | ||
| Miss Izabella Tilley | ||
| Accountant | Humphrey & Co | |
| 7-9 The Avenue | ||
| Eastbourne | ||
| East Sussex | ||
| BN21 3YA |
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Tilley Foundation
Trustees' Report
Year ended 31 March 2024
The Trustees present their Report and Accounts for the year ended 31 March 2024.
The Accounts have been prepared on a receipts and payments basis in accordance with the Charity's Trust Deed, the Charities Act 2011 and applicable law.
Objectives and Activities for the Public Benefit
The objects of the Charity allow the Trustees discretion to apply the income and capital of the Charity for such charitable purposes as they from time to time decide. The Trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the donations policy for the period.
Funds will be used to further the Foundation's aims of promoting the advancement of children's education and wellbeing within the Brighton area and the rest of the UK.
Achievements and Performance
The Foundation provide a set monthly donation to Time 4 Children a UK registered charity (1111837). In 2023 A donation was also made to UK registered charity, Sussex Nightstop Plus Limited (1132386).
Financial Review
During the year the Trustees made donations totalling £18,000 (2023: £33,000). Income of £6,329 (2023: nil) relating to gift-aid on the prior year donations of £25,000 was received. No further income was received during the year.
Free reserves at the year end totalled £20,959 (2023: £33,440).
It is the aim of the Trustees to maintain readily accessible cash funds sufficient to fund anticipated charitable donations and administration costs over the coming year. In line with the Trustees' risk policy this will be maintained within bank accounts at present due to the low level of risk free investment that could be achieved.
The Trustees aim to maintain reserves to meet their annual costs whilst distributing available income arising, after expenses, to charitable organisations at their discretion and as such reserves are not set at a specific level but will be reviewed by the Trustees on a rolling basis. The Trustees aim to provide donations to a few charities at larger amounts rather than many at smaller amounts and these will be decided by the Trustees on an annual basis.
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Tilley Foundation Trustee5' Report Yeor ended 31 March 2024 Strurture, Governan and Manapm•nt The Tilley Foundation is a Charitable Incorp)r3ted Organisation 8¢)vemed by a Constltutlon dated 01 Au8USt 2019. Under the tems of the Constitution there must be at least three Trurtees. Apart from the first three Trustees, every Trustee must be appointed by a resolution of the Tntee5 passed at a speclal meetln8 called under clause 15 of the deed. Trustees are selected having regard to skills, knowledge and experience needed for the effective administration of the Charity. The Trustees who Served during the year were... Mr Patrlck Tllley Mrs Iwona Tllley Miss Izabella Tilley All Trustèes give of their time freely and no Trustee remuneration was pald in the year. Trustees are required to disclose all relevant Interests and to wlthdraw from decisions where a conflict of interest arises. The Trustees, Report was approved by the Board of Trustees. Approved by t Trustees and s18ned on thelr behall by: Mr P A Tllley Date..
Tilley Foundation
Chartered Accountants' Report To The Trustees On The Unaudited Financial Statements of Tilley Foundation
Year ended 31 March 2024
In accordance with the engagement letter dated 10 February 2021, in order to assist you to fulfil your duties under Charities Act 2011, we have prepared for your approval the accounts of Tilley Foundation for the year end 31 March 2024 as set out on pages 5 to 6 from the Charity's accounting records and from information and explanation you have given us.
As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
The report is made solely to you, the charity's Board of Trustees, as a body, in accordance with the terms of our engagement letter dated 10 February 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Tilley Foundation and state those matters that we have agreed to state to them in this report in accordance with ICAEW Technical Release 08/16 AAF as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its Board of Trustees, as a body, for our work or for this report.
You have approved the financial statements for the year ended 31 March 2024 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
4 November 2024
………………………………………………..
Humphrey & Co Chartered Accountants 7-9 The Avenue Eastbourne East Sussex BN21 3YA
………………………………………………..
Date
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Tilley Foundation
Receipts and payments
Year ended 31 March 2024
| Receipts Donations received Gift Aid Repayment interest Total Receipts Payments Grants and donations paid Accountancy fee Total Payments Net of receipts/(payments) Cash funds last year end Cash funds this year end |
Year ended 31 March 2024 £ - 6,250 79 6,329 18,000 810 18,810 (12,481) 33,440 20,959 |
Year ended 31 March 2023 £ 25,000 - - |
|---|---|---|
| 25,000 33,000 1,560 |
||
| 34,560 (9,560) 43,000 |
||
| 33,440 |
All funds are unrestricted.
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Tilley Foundation Statement of assèts and liabilities Yeur ended 31 March 2024 31 March 2024 31 M•r¢h 2023 Cash funds Bank accounts 20,959 20,959 33,440 33,440 All fund5 are unre5trlcted. Mr P A Tllley Mrs l D Tllle Date