Charity Registration No. 1186137 

## TIOC 

Annual report and financial statements for the year ended 05 April 2023 



## Contents 

|**Officers and Professional Advisors**|**Error! Bookmark not defined.**|
|---|---|
|**Report of the Trustees**|**Error! Bookmark not defined.**|
|Charity structure & trustee recruitment|4|
|Activities|4|
|Achievements and performance|4|
|**Financial Review**|4|





## Officers and Professional Advisors 

|Trustees|Benjamin Mardle|
|---|---|
||Catherine Hogel (Chair)|
||Philip Walsh|
|Trust Administrator|Áine McNamara|
|Principal Address|Unit 14 Admiralty Way,|
||Camberley, Surrey,|
||GU15 3DT|
|Bankers|Kleinwort Hambros,|
||8 St James's Square,|
||London, SW1Y 4JU.|
|Solicitors|…|
|Accountant|Wayne Harris|
||THB,|
||1 & 2 Studley Court Mews,|
||Guildford Road,|
||Chobham,|
||Surrey, GU23 8EB.|





## Report of the Trustees 

The Trustees present their report along with the financial review of the charity for the year ended 05 April 2023. 

## **Charity structure & trustee recruitment** 

The charity is chaired by Catherine Hogel and managed with trustees Benjamin Mardle and Phillip Walsh. 

Áine McNamara assists with management, secretarial duties and day to day running. 

Trustees are selected on a personal basis and based on a skills matrix of management, arts, and accounting. 

## **Activities and objectives:** 

Over these founding years, we have primarily worked towards establishing our purpose and setting in place good governance structures for the future. We have continued to accrue funding to enable the charity to support a wide range of projects and to commit to multi-year gifts, better helping organisations meet their long-term goals. 

This year we have also updated our giving policy, in order to better help fewer projects to a greater level and maximise the impact of our donations. It outlines our ongoing dedication to supporting projects that relate to children and the arts, as well as autism, diabetes, and child loss. 

Our objectives for the upcoming year are to continue pledging and distributing funds more regularly to worthy projects that are aligned with this giving policy. We are building a threeyear rolling model of financial distribution and establishing a dedicated reserve fund. 

## **Achievements and performance:** 

Moving out of a period of reduced activity, this year we made a number of donations to worthy charities and projects, more closely aligned with our above giving policy. We continue to build our reserves to set us in good standing for the future, and have accrued more funds to distribute in the next financial year. 



## Financial Review 

## **Review of the charity’s financial position at the end of the period** 

The charity is in a positive financial position; we have not accrued any debt; have no unfulfilled pledges and are able to continue making donations into the next financial year. 

In this financial year, we also opened another bank account for daily transactions to make donations from, whilst the majority of the funds are held in a separate account. This was considered an unnecessary additional administrative burden and the account was closed before the year end. 

## **Statement explaining the policy for holding reserves stating why they are held** 

Our policy for holding reserves is to ensure the longevity of the charity. It enables us to continue supporting a wide range of projects and to commit to multi-year gifts, better helping organisations meet their long-term goals. 

## **Amount of reserves held by the end of this financial year:** £1,500,000 



**REGISTERED CHARITY NUMBER: 1186137** 

**Report of the Trustees and Audited Financial Statements for the Period 1 April 2022 to 5 April 2023** 

**for TIOC** 

THB LLP 

1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 



**TIOC** 

**Contents of the Financial Statements for the Period 1 April 2022 to 5 April 2023** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to  2|
|**Report of the Independent Auditors**|3 to  4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to  10|
|**Detailed Statement of Financial Activities**|11|





**TIOC** 

## **Report of the Trustees for the Period 1 April 2022 to 5 April 2023** 

## **Charity structure & trustee recruitment** 

The charity is chaired by Catherine Hogel and managed with trustees Benjamin Mardle and Phillip Walsh. Áine McNamara assists with management, secretarial duties and day to day running. Trustees are selected on a personal basis and based on a skills matrix of management, arts, and accounting. 

## **Activities and objectives:** 

Over these founding years, we have primarily worked towards establishing our purpose and setting in place good governance structures for the future. We have continued to accrue funding to enable the charity to support a wide range of projects and to commit to multi-year gifts, better helping organisations meet their long-term goals. 

This year we have also updated our giving policy, in order to better help fewer projects to a greater level and maximise the impact of our donations. It outlines our ongoing dedication to supporting projects that relate to children and the arts, as well as autism, diabetes, and child loss. 

Our objectives for the upcoming year are to continue pledging and distributing funds more regularly to worthy projects that are aligned with this giving policy. We are building a three-year rolling model of financial distribution and establishing a dedicated reserve fund. 

## **Achievements and performance:** 

Moving out of a period of reduced activity, this year we made a number of donations to worthy charities and projects, more closely aligned with our above giving policy. We continue to build our reserves to set us in good standing for the future, and have accrued more funds to distribute in the next financial year. 

. 

## **FINANCIAL REVIEW** 

## **Review of the charity’s financial position at the end of the period** 

The charity is in a positive financial position; we have not accrued any debt; have no unfulfilled pledges and are able to continue making donations into the next financial year. 

In this financial year, we also opened another bank account for daily transactions to make donations from, whilst the majority of the funds are held in a separate account. This was considered an unnecessary additional administrative burden and the account was closed before the year end. 

## **Statement explaining the policy for holding reserves stating why they are held** 

Our policy for holding reserves is to ensure the longevity of the charity. It enables us to continue supporting a wide range of projects and to commit to multi-year gifts, better helping organisations meet their long-term goals. 

REFERENCE AND ADMINISTRATIVE DETAILS **Registered Charity number** 1186137 

## **Principal address** 

Unit 14 Admiralty Way Camberley, Surrey GU15 3DT 

## **Trustees** 

Mr B J Mardle Mrs C C Hogel Mr P Walsh 

Page 1 



**TIOC** 

## **Report of the Trustees for the Period 1 April 2022 to 5 April 2023** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Auditors** 

THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the Report of the Trustees 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, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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 board of trustees on ............................................. and signed on its behalf by: 30th January 2024 


........................................................................ Mr B J Mardle - Trustee 

Page 2 



**Report of the Independent Auditors to the Trustees of TIOC** 

## **Opinion** 

We have audited the financial statements of TIOC (the 'charity') for the period ended 5 April 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 5 April 2023 and of its incoming resources and application of resources, for the period then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

Page 3 



**Report of the Independent Auditors to the Trustees of TIOC** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

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. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 


28th January 2024 Date: ............................................. 

Page 4 



**TIOC** 

**Statement of Financial Activities for the Period 1 April 2022 to 5 April 2023** 

|**Notes**<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**EXPENDITURE ON**<br>**Charitable activities**<br>3<br>Donation<br>Other<br>**Total**<br>**NET INCOME**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|**Period**<br>**1.4.22**<br>**to**<br>**5.4.23**<br>**Unrestricted**<br>**fund**<br>**£**<br>403,212<br>285,497<br>50<br>285,547<br>117,665<br>1,638,083<br>1,755,748|**Period**<br>**5.4.21**<br>**to**<br>**31.3.22**<br>**Total**<br>**funds**<br>**£**<br>1,030,000<br>-<br>2,000<br>2,000<br>1,028,000<br>610,083<br>1,638,083|
|---|---|---|



The notes form part of these financial statements 

Page 5 



**TIOC** 

## **Balance Sheet 5 April 2023** 

|**Notes**<br>**CURRENT ASSETS**<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>8<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>9<br>Unrestricted funds<br>**TOTAL FUNDS**|**5/4/23**<br>**Unrestricted**<br>**fund**<br>**£**<br>1,759,447<br>(3,699)<br>1,755,748<br>1,755,748<br>1,755,748<br>1,755,748<br>1,755,748|**31/3/22**<br>**Total**<br>**funds**<br>**£**<br>1,641,782<br>(3,699)<br>1,638,083<br>1,638,083<br>1,638,083<br>1,638,083<br>1,638,083|
|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 30th January 2024 


............................................. Mr B J Mardle - Trustee 


............................................. Mrs C C Hogel - Trustee 

The notes form part of these financial statements 

Page 6 



**TIOC** 

**Notes to the Financial Statements for the Period 1 April 2022 to 5 April 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## **Financial reporting standard 102 - reduced disclosure exemptions** 

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': 

- the requirements of Section 7 Statement of Cash Flows. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **2. DONATIONS AND LEGACIES** 

|**DONATIONS AND LEGACIES**|||
|---|---|---|
||**Period**|**Period**|
||**1.4.22**|**5.4.21**|
||**to**|**to**|
||**5.4.23**|**31.3.22**|
||**£**|**£**|
|Donations|403,212|1,030,000|



continued... 

Page 7 



**TIOC** 

**Notes to the Financial Statements - continued for the Period 1 April 2022 to 5 April 2023** 

## **3. CHARITABLE ACTIVITIES COSTS** 

|Donation<br>**4.**<br>**GRANTS PAYABLE**<br>Donation<br>**5.**<br>**SUPPORT COSTS**<br>Other resources expended<br>**6.**<br>**TRUSTEES' REMUNERATION AND BENEFITS**|**Grant**<br>**funding of**<br>**activities**<br>**(see note**<br>**4)**<br>**£**<br>285,497<br>**Period**<br>**Period**<br>**1.4.22**<br>**5.4.21**<br>**to**<br>**to**<br>**5.4.23**<br>**31.3.22**<br>**£**<br>**£**<br>285,497<br>-<br>**Other**<br>**£**<br>50|
|---|---|



There were no trustees' remuneration or other benefits for the period ended 5 April 2023 nor for the period ended 31 March 2022. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the period ended 5 April 2023 nor for the period ended 31 March 2022. 

|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||**Unrestricted**|
|||**fund**|
|||**£**|
||**INCOME AND ENDOWMENTS FROM**||
||Donations and legacies|1,030,000|
||**EXPENDITURE ON**||
||Other|2,000|
||**NET INCOME**|1,028,000|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|610,083|



continued... 

Page 8 



**TIOC** 

**Notes to the Financial Statements - continued for the Period 1 April 2022 to 5 April 2023** 

## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** 

|**TOTAL FUNDS CARRIED FORWARD**<br>**8.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other creditors<br>**9.**<br>**MOVEMENT IN FUNDS**<br>**At 1.4.22**<br>**£**<br>**Unrestricted funds**<br>General fund<br>1,638,083<br>**TOTAL FUNDS**<br>1,638,083<br>Net movement in funds, included in the above are as follows:<br>**Incoming**<br>**resources**<br>**£**<br>**Unrestricted funds**<br>General fund<br>403,212<br>**TOTAL FUNDS**<br>403,212<br>**Comparatives for movement in funds**<br>**At 5.4.21**<br>**£**<br>**Unrestricted funds**<br>General fund<br>610,083<br>**TOTAL FUNDS**<br>610,083||
|---|---|
|||



continued... 

Page 9 



**TIOC** 

## **Notes to the Financial Statements - continued for the Period 1 April 2022 to 5 April 2023** 

## **9. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|**Incoming**<br>**resources**<br>**£**<br>1,030,000<br>1,030,000|**Resources**<br>**expended**<br>**£**<br>(2,000)<br>(2,000)|**Movement**<br>**in funds**<br>**£**<br>1,028,000<br>1,028,000|
|---|---|---|---|



## **10. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the period ended 5 April 2023. 

Page 10 



**TIOC** 

## **Detailed Statement of Financial Activities for the Period 1 April 2022 to 5 April 2023** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Donations given<br>**Support costs**<br> **Other**<br>Accountancy & audit<br>Total resources expended<br>**Net income**|**Period**<br>**1.4.22**<br>**to**<br>**5.4.23**<br>**£**<br>403,212<br>403,212<br>285,497<br>50<br>285,547<br>117,665|**Period**<br>**5.4.21**<br>**to**<br>**31.3.22**<br>**£**<br>1,030,000<br>1,030,000<br>-<br>2,000<br>2,000<br>1,028,000|
|---|---|---|



This page does not form part of the statutory financial statements 

Page 11 



**REGISTERED CHARITY NUMBER: 1186137** 

**Report of the Trustees and Audited Financial Statements for the Period 1 April 2022 to 5 April 2023** 

**for TIOC** 

THB LLP 

1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 



**TIOC** 

**Contents of the Financial Statements for the Period 1 April 2022 to 5 April 2023** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to  2|
|**Report of the Independent Auditors**|3 to  4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to  10|
|**Detailed Statement of Financial Activities**|11|





**TIOC** 

## **Report of the Trustees for the Period 1 April 2022 to 5 April 2023** 

## **Charity structure & trustee recruitment** 

The charity is chaired by Catherine Hogel and managed with trustees Benjamin Mardle and Phillip Walsh. Áine McNamara assists with management, secretarial duties and day to day running. Trustees are selected on a personal basis and based on a skills matrix of management, arts, and accounting. 

## **Activities and objectives:** 

Over these founding years, we have primarily worked towards establishing our purpose and setting in place good governance structures for the future. We have continued to accrue funding to enable the charity to support a wide range of projects and to commit to multi-year gifts, better helping organisations meet their long-term goals. 

This year we have also updated our giving policy, in order to better help fewer projects to a greater level and maximise the impact of our donations. It outlines our ongoing dedication to supporting projects that relate to children and the arts, as well as autism, diabetes, and child loss. 

Our objectives for the upcoming year are to continue pledging and distributing funds more regularly to worthy projects that are aligned with this giving policy. We are building a three-year rolling model of financial distribution and establishing a dedicated reserve fund. 

## **Achievements and performance:** 

Moving out of a period of reduced activity, this year we made a number of donations to worthy charities and projects, more closely aligned with our above giving policy. We continue to build our reserves to set us in good standing for the future, and have accrued more funds to distribute in the next financial year. 

. 

## **FINANCIAL REVIEW** 

## **Review of the charity’s financial position at the end of the period** 

The charity is in a positive financial position; we have not accrued any debt; have no unfulfilled pledges and are able to continue making donations into the next financial year. 

In this financial year, we also opened another bank account for daily transactions to make donations from, whilst the majority of the funds are held in a separate account. This was considered an unnecessary additional administrative burden and the account was closed before the year end. 

## **Statement explaining the policy for holding reserves stating why they are held** 

Our policy for holding reserves is to ensure the longevity of the charity. It enables us to continue supporting a wide range of projects and to commit to multi-year gifts, better helping organisations meet their long-term goals. 

REFERENCE AND ADMINISTRATIVE DETAILS **Registered Charity number** 1186137 

## **Principal address** 

Unit 14 Admiralty Way Camberley, Surrey GU15 3DT 

## **Trustees** 

Mr B J Mardle Mrs C C Hogel Mr P Walsh 

Page 1 



**TIOC** 

## **Report of the Trustees for the Period 1 April 2022 to 5 April 2023** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Auditors** 

THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the Report of the Trustees 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, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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 board of trustees on ............................................. and signed on its behalf by: 30th January 2024 


........................................................................ Mr B J Mardle - Trustee 

Page 2 



**Report of the Independent Auditors to the Trustees of TIOC** 

## **Opinion** 

We have audited the financial statements of TIOC (the 'charity') for the period ended 5 April 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 5 April 2023 and of its incoming resources and application of resources, for the period then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

Page 3 



**Report of the Independent Auditors to the Trustees of TIOC** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

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. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 


28th January 2024 Date: ............................................. 

Page 4 



**TIOC** 

**Statement of Financial Activities for the Period 1 April 2022 to 5 April 2023** 

|**Notes**<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**EXPENDITURE ON**<br>**Charitable activities**<br>3<br>Donation<br>Other<br>**Total**<br>**NET INCOME**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|**Period**<br>**1.4.22**<br>**to**<br>**5.4.23**<br>**Unrestricted**<br>**fund**<br>**£**<br>403,212<br>285,497<br>50<br>285,547<br>117,665<br>1,638,083<br>1,755,748|**Period**<br>**5.4.21**<br>**to**<br>**31.3.22**<br>**Total**<br>**funds**<br>**£**<br>1,030,000<br>-<br>2,000<br>2,000<br>1,028,000<br>610,083<br>1,638,083|
|---|---|---|



The notes form part of these financial statements 

Page 5 



**TIOC** 

## **Balance Sheet 5 April 2023** 

|**Notes**<br>**CURRENT ASSETS**<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>8<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>9<br>Unrestricted funds<br>**TOTAL FUNDS**|**5/4/23**<br>**Unrestricted**<br>**fund**<br>**£**<br>1,759,447<br>(3,699)<br>1,755,748<br>1,755,748<br>1,755,748<br>1,755,748<br>1,755,748|**31/3/22**<br>**Total**<br>**funds**<br>**£**<br>1,641,782<br>(3,699)<br>1,638,083<br>1,638,083<br>1,638,083<br>1,638,083<br>1,638,083|
|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 30th January 2024 


............................................. Mr B J Mardle - Trustee 


............................................. Mrs C C Hogel - Trustee 

The notes form part of these financial statements 

Page 6 



**TIOC** 

**Notes to the Financial Statements for the Period 1 April 2022 to 5 April 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## **Financial reporting standard 102 - reduced disclosure exemptions** 

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': 

- the requirements of Section 7 Statement of Cash Flows. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **2. DONATIONS AND LEGACIES** 

|**DONATIONS AND LEGACIES**|||
|---|---|---|
||**Period**|**Period**|
||**1.4.22**|**5.4.21**|
||**to**|**to**|
||**5.4.23**|**31.3.22**|
||**£**|**£**|
|Donations|403,212|1,030,000|



continued... 

Page 7 



**TIOC** 

**Notes to the Financial Statements - continued for the Period 1 April 2022 to 5 April 2023** 

## **3. CHARITABLE ACTIVITIES COSTS** 

|Donation<br>**4.**<br>**GRANTS PAYABLE**<br>Donation<br>**5.**<br>**SUPPORT COSTS**<br>Other resources expended<br>**6.**<br>**TRUSTEES' REMUNERATION AND BENEFITS**|**Grant**<br>**funding of**<br>**activities**<br>**(see note**<br>**4)**<br>**£**<br>285,497<br>**Period**<br>**Period**<br>**1.4.22**<br>**5.4.21**<br>**to**<br>**to**<br>**5.4.23**<br>**31.3.22**<br>**£**<br>**£**<br>285,497<br>-<br>**Other**<br>**£**<br>50|
|---|---|



There were no trustees' remuneration or other benefits for the period ended 5 April 2023 nor for the period ended 31 March 2022. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the period ended 5 April 2023 nor for the period ended 31 March 2022. 

|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||**Unrestricted**|
|||**fund**|
|||**£**|
||**INCOME AND ENDOWMENTS FROM**||
||Donations and legacies|1,030,000|
||**EXPENDITURE ON**||
||Other|2,000|
||**NET INCOME**|1,028,000|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|610,083|



continued... 

Page 8 



**TIOC** 

**Notes to the Financial Statements - continued for the Period 1 April 2022 to 5 April 2023** 

## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** 

|**TOTAL FUNDS CARRIED FORWARD**<br>**8.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other creditors<br>**9.**<br>**MOVEMENT IN FUNDS**<br>**At 1.4.22**<br>**£**<br>**Unrestricted funds**<br>General fund<br>1,638,083<br>**TOTAL FUNDS**<br>1,638,083<br>Net movement in funds, included in the above are as follows:<br>**Incoming**<br>**resources**<br>**£**<br>**Unrestricted funds**<br>General fund<br>403,212<br>**TOTAL FUNDS**<br>403,212<br>**Comparatives for movement in funds**<br>**At 5.4.21**<br>**£**<br>**Unrestricted funds**<br>General fund<br>610,083<br>**TOTAL FUNDS**<br>610,083||
|---|---|
|||



continued... 

Page 9 



**TIOC** 

## **Notes to the Financial Statements - continued for the Period 1 April 2022 to 5 April 2023** 

## **9. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|**Incoming**<br>**resources**<br>**£**<br>1,030,000<br>1,030,000|**Resources**<br>**expended**<br>**£**<br>(2,000)<br>(2,000)|**Movement**<br>**in funds**<br>**£**<br>1,028,000<br>1,028,000|
|---|---|---|---|



## **10. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the period ended 5 April 2023. 

Page 10 



**TIOC** 

## **Detailed Statement of Financial Activities for the Period 1 April 2022 to 5 April 2023** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Donations given<br>**Support costs**<br> **Other**<br>Accountancy & audit<br>Total resources expended<br>**Net income**|**Period**<br>**1.4.22**<br>**to**<br>**5.4.23**<br>**£**<br>403,212<br>403,212<br>285,497<br>50<br>285,547<br>117,665|**Period**<br>**5.4.21**<br>**to**<br>**31.3.22**<br>**£**<br>1,030,000<br>1,030,000<br>-<br>2,000<br>2,000<br>1,028,000|
|---|---|---|



This page does not form part of the statutory financial statements 

Page 11