R•glst•vod number: CE022376 Charlty Rumbor: 1190223 JOSEPH TOOMEY CHARITABLE FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2023 JOSEPH TOOMEY CHARITABLE FOUNDATIOM CONTENTS Pag8 Ref•rence and Admlnlstratlv• Dètsll* of the Companyi Its Tru¥tsu and Adv1¥• Tru¥toe•' Report TN•tso8' Re¥pon•lbllltle• Statsment Indop•nd•nt AudltorfB Report on th• Flnon¢lal Stat*n*nts Statement of Flnan¢lal A¢tivltl•* Balan¢• Sha•t 10 siatornont of C•$h Flo 11 Notsi to thg Flnan¢lal Stat•m•nts 12-20 JOSEPH TOOMEY CHARITABLE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Truste0¥ C A Cro88 E R Toomey T A Griffilhs S Decelis J Brook Rt Rev A William$ P Toomey C Grifffths I Cain P Plant J Cross Rev D Kolly J Toomey D Martln& Company reglstsr•d numb•r CE022375 Charlty rnglster8d nurnbor 1190223 R•gl¥t•rod offlce SèThice House Wesl Maynè Basildon Essax SS15 6RW Indep•nd•nt audltor MHA SlalLrtory Audltor 910 Thg Crescent Cotchestei Business Pa Colchest8r Essex C04 9YQ Paga 1 JOSEPH TOOMEY CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEIIBER 2023 Tht Truslg9s who are also dlreclors of the charitable Company for the purposes of the Companies Act 2006, pr8$ent their annual T8POrt 10gelhgr wNh the audited financial 5tatem8nls of thg Jo$8ph Toomgy Charitable Foundation for tha yoar l January 2(r23 10 31 December 2023. Thg Annual Report serves the purpo$8$ of both a Truslo6s' report and a dlrectors, r6port under company law. The Trustees confimi that the Annual Report and financial stalèmènis of the charttable ￿rnpanY comply with the rrgnl 8talulory requirements. the r8quiremgnts of the charitable companys goveming document and the pmmsions of Ihe Slatomenl of Recommended Pi8Ctica ISORPI applicable to charttigs Preparing thelr ac￿lInts in accordanc8 wrfh the Flnan(ial Re￿rtIng Standard applicable In tho UK and Republic of Ireland fFRS1021 leffe￿1ve 1 January 2019). OBJECTfrfES AMD ACTIVITIE5 . ObJ•clivM and alms The objec*ve of th8 charity is to rallgvo the needs of eldedy peTrons through thg provlslon of Iow-cosl h¢Jme ownershtp and assoryated seM¢es to address their needs. In setting objectw8s and plannln9 for actiwlies, the TnJsl8&s have glvan duo ￿nSIderatIon to gen8ral guKlance publlsh¢d by the Charfty Commission relating to public bgnallt, including the guidance 'Public b8nefiL' running arty IPB21'. b. Slgnlfl¢ant a¢Jvltl These finan&al statements ¢over a signfficant year in th¢ life of the Charity. In 2022 the charfly r¢elved a wgnifficant donation from tho ¢ompany whiL* was used in 2023 to fund a grant to Cholmsford Cf(k6ns Advice. Tho trustees have Spent lime durfng tho year developing various polici83 and operational d0￿MentS required for the charity to fvndion. The trustees expeL* furthgr L*aritable eypendilure to be incurred in 2024. c. Publlc b•nofit In setting obj8Ctfves and plannlng for actiwtses, th8 Trustggs have gI￿n due consideration lo general guldan published by tho Charity Commi55ion relatill9 to public btrnefrt, including th8 guldancg 'Publi¢ benefit.. running a charity IP821'. STRATEGIC REPORT R•sop•os poIIcy The charity op8r810s a reserve pc4icy to 8nsur8 that sufficient funds are hetrj for o)mmllled c*arilablè expondlture and operational o)sts. Unreslrfcied reaer¥es of £419.276 ar8 hold 41 the period erKI. Paga 2 JOSEPH TOOMEY CHARITABLE FOUNDAnoN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIC REPORT l¢ontlnu•d) Golng ¢on¢om After making appropriate &nquiries, the T¥uslee8 have a reasonablo expactallon that tha Company ha$ adequate r8SOUTce$ lo continue in opeTatK>nal oxistence for tha foreseeable future. For thi3 rea8on. they continue lo adopt the going concem b4818 in weparing the finand8181alements. Further detalls regardlng the adopllon of the going concem basis can be found in the aceounling policles. STRUCTURE, GOVERNANCE AND MANAGEMENT Gov•rnlng do¢um•nt Joseph Toomey Charitable FoundalSon 1$ registered as a charitable company limited by gLiarant88 and was sel up by a Trust deed. RocTuftm8nt and appolnknont of now tru¥tso¥ The cl)arfty was incorporated wilh a board of etevon origlnal ehartty Iru$lo8s. The trustees comwi58 famity mambors of Mitha•l Toomey. Ckrical membors of tha Roman Cathoh'c Church and exocullw and non-exe¢xtive dlrocttsrs of the founding company. The trustees afe aware that additional trustees, laken from the grouping$ above, will be able lo provide addition81 skilEs and knowledge to enable the ¢harlty to meet the objectives 8el out in the con5tilulion. Since incofporation. a numbor of ngw trustses have been identified and waknm8s lo tha board, hawng mot tho eligibility criteria sel out In the constitutsot). Dl8tloBur• of Inforn)•tlon to audhor Each of the p¢rson$ who are Tru81ee8 al thè time when this Trustoa$' Rgport 1$ Approved has confimied that.. so far as that Trus1¢8 Ss aware, Ihwe is no relevant audit informallon of whS¢h tho charitys audÉtor is unaware, and that Trustee has lakgn all the steps that ought lo have boen tak8n as a Trustee in Oftler to be knware of any relevant audit information and to establish that the ¢harlty$ aLKlilor is aware of that infonnation. Approved by Qrfler of Iho m8mber¥ of the board of Trustees and $19ngd on their behalfby.. E6IToorrKL¥........ &LE4KIO(l TOOM ey Date-. 11 September 2024 Page 3 JOSEPH TOOMEY CHARITABLE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Th8 TfU8tee8 (who are also the dlrectofs of the Company for the purposes of company law} aro rgsponsible for pr9padng the Tru818es' R8POrt induding tha Slralggic Report and the financial slalemenls In accDrdance wfth applicable taw and United Kingdom A¢¢ounling Standards (United Kingdom Generally AGGoptgd Accounling PracticAI. Company Lqw r8qulre$ thè TruJlee$ to prepare finanrAal stalem•nl$ for ga¢h finandal y¢ar. Under compgny law, the Trustees mu81 not appTove the finan￿al st8temenls unless tlley are 581isfied that they give a true and fair view of the stale of affairs of th8 Company and of its incomlng resourcAs and apph'¢allon of rgsourc8s, induding ils income and gxpenditure. for that period. In preparing Ih6$e firtan¢iai statements, the Tru8lees are requlrod to.. 581oCt suitablo a￿UnlIng polirAes and then appty thgm ¢onslstenty, obsarve the methods and piinciples of the Charitie$ SORP IFRS 1021., mak8 judgments and aco)Ltnllng eslim4t&s that aro reasonable and prudent,. $tat& whether applicable UK Accounting Sland8rd$ (FRS 7021 have bD8n follcvwgd. subl9Ct to a*7y mat9rf91 dèpartures di5dosed and explained in tho financial 5talem8nls'. prèpare the finanaal stalem8nts on thg going ¢on¢em basis unless it Is Inappropriatg lo prgsumg that th8 Company continue in busines The Truste&$ are resFX)nsible for keeping adoquat8 accounting r8cords that ar8 sufficignt lo show and explaln the Companls transactions and di$dose with rea50nabb accuracy al any time Ihe finanaal position of the Company and ena￿e them lo ensure that the financial slalernents compfy the Companies Act 20C6. They are also responsi￿¥ for safeguardirbg th8 assets of the Company and h9n￿ for taking reasonable stops for the prevention and detection of fraud and othèr irr¢gularilies. Approvod by ordor ofthe members of tho boaid of Tfustees and sÉgn6d on Its behalf by.. Trugtso -ToknM GI,.￿, &£ Date.. 11 September 2024 Pagg 4 JOSEPH TOOMEY CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION Oplnlon We have audited the financ4al ststement8 of Joseph Toomoy Charhoblg Foundation {the 'chaFitable compan￿) for the y&aT ended 31 December 2023 whlch comprfjse the Slalomenl of Financial Adivities. the Balance Sheet, the Statement of Cash Flows and Ihe rglaled notes, including a summary of signlficant accounting policigs. Th6 financial reporting framewoth that has been applied in their preparation Is applicable law and United Kingdom Acco(tntlng Stsndar¢Js. induding Finand81 Rgportlng Standard 102 'The Finanaal Roporting Standard applicqbl& in thè UK and Republi¢ of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinlon th9 flnandal stalem¥t)18'. give a Irue and fair wew of the slate of the charitable (x)mpanls affalrs as 8131 December 2023 and of its incomlng rosource8 and ap￿ication of r¢source$, Inciuding Sts In￿Me and expenditure for the year then gndgd., have been property prepared in ao)Jrdance Mlh United ￿ngdorn Ggnerally A¢￿pted A￿oUntIng Practice., and have be¥n prop8r8d In acDJrdance whh the requirwnenls of the ChArili•s Act 2011. BR•18 for oplnlon We conducted our audit in accordance wrth Inlemational Stsndards on Auditing (UK) (ISAS (UK)) and applub19 law. Our rgspon$lbli ilies under those standards ars fvrther Lle3cribed in the Auditorf$ raspon$ibllits08 for the audrt of the financial statsm•nts section of our report. We are independent of the charitabte company in ac£ordar wlth the ethlcal requirements that are relevant lo our audit ol Ihg flnanctal statements in the United K4'ngd¢)m, induding the Financial Reporflng CouncAVs Elhical Standard. and we have knlfilled our other olhical responsibilities in aecordance with these requir8mon15. We b8]le￿ that the at￿h evKl¢rt￿ we have obtained is sufficient and appropriate to prowde a basis for our opinion. Con¢luslon¥ rn5atlng to golng ¢onum In audltin9 the finanrAal statomgnt$, we have concluded Ihat thg Trustees. usè ol tho goln9 ¢on¢gm bas18 of arxounllng In the PTeparalion of Ihg finan￿*1 statements is appropriate. Based on the work we have performed, we have not idèntifi9d any material uncertainttgs rglatlng to ev&nts or conditions that. indiwdua1￿ or i))Ilect￿ety. may ￿51 signifKanl doubt on th8 charitable o)mpanl5 ability to continue as a 90ing ¢oncem for a wod of al least ￿e1ve months from wh8n the finanoal statements arè authori8e(I for issue. Our Tesponsibilitias and the re8pon5ibililio$ of tho TTUStees with r8$P8¢t to going concom are dosulb8d In th8 relevant SgcUon8 of this report. P890 5 JOSEPH TOOMEY CHARITABLE FOUNDAnoN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION {CONTINUEDI Othor Infornmtlon The othei information compri808 thè infornation Included in the Annual Roport other than thg Ilnanckl statements and our Audltorfs Report thereon. Th$ Trustees are responsible for Ihe other infomalion Mntaln•d thin tho Annual Report. Our oplnlon on tt)& finanoal statements dog$ not cover the other infoFmalSon and, except lo Ihe exient otherwiw &xplW stated in OUT report. wo do ntsl express any form of assurance Gon¢lusion Ihereon. Our r&sponsibilrty is lo read Iho other information and. in doing so, consid¥r whether thè ot￿1 infonnation is Materi￿lY inconsl$tent w6th the flnancial statements or our knowledge oblalnèd in the course of the audll. or otherwse appears Its be materially rnisstatsd. If wo identify such malorial inconslslen¢igs or apparent ffla10rt￿ misstatements, we are required to determine whether this gNa$ rl$e to a material mi5slalement in the finanaal statements themsglves. If, based on the work we havg perfomed, we conclude Ihat there is a material rnisstatemant of Ihis other infomialion. w8 are required lo report that fact We hav8 nothing lo report in this 18gard. Mattorn on whl¢h w• ar• r•qulr•d to rnport by •xceptlon Wo he￿ nothlng to rowt in fe8POL* of the foNowing matters where the Charities (A￿Unts and Reports) Regulations 2008 requÉros u5 to report to you rf, In our opinion.. the information gNen in tho Trustggs, RoFh)rt is ir￿nsIstenI In any matedal respect vrith the ffinancial skt$ments; OT suffi¢i¥nl accounting records have not b8en kept: or the fina￿la1 statements are not In agr8em8nt w4th the a(￿untIng records and rgtums; or we hav& not r8e91v￿ all the infonnalion and explan¥lions we reqLdre for our audit. Ro$pon$lbllltEo8 of tru8t•0• As 9X￿ained more fully In the Trustees, Responsibilitias Ststemenl, the Trustees (who are a150 the directors of the charitable company for the purpo$e$ of company lawl ar9 responslble for the preparation of th¢ financlal stalamenls and for baing satisfied that they give a trug and fair view, and for such inlgmal ￿ntrol as th Trustees determine Is nèce3sary to enable thè proparation of finan￿al statemonts th*t are free from rnal8rial mi5Statemgnt, vthetheT due lo fraud or grror. In prpparing the financlal Slalements, the Truste9$ arg responsible for assessing the charitable companys ability to ¢ontFnue as a going wncem. disdosing. as applicable, mattors ralatgd lo golng concem and uslng th& golng con¢gm b8sis of accountin9 unlsss the Trustee5 either intend lo liquidate the tharitabla company or to ceaBe operatv)n5, or hav8 no raalisllc a11gmative bul to do so. Page 6 JOSEPH TOOMEY CHARrrABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARtTABLE FOUNDAnoN ICONTINUEDI Audltof• mpon¥lbllltles for th• audlt of th• financlal ¥tat•m•nts We have bgen appointed a5 auditor und8r saction 145 of the Chartties Act 2011 and report In acurdance wKh th9 Act and rebvanl r8gulations mad$ or ha￿ng effect thereunder. Our objectives are to obtain reasonable assurance about whthr the financial statements as a whol8 are free from material misstatement, wheth¢r due to fraud or error. and to issue An Auditovs Report that indud&s our oplnion. Reasonable assurnn¢& 1$ a hl9h ltrvel of assurance, but Is not a guar8nle& that an audlt conducted In accordancè with (UK) wll a￿ayS detect a mat8fial misstslemènl when it exists. Mis61al&rn&nls can arise from fraud or errot and are considered mglerial If, Indlvidualty or in the aggrega18. Ihgy Could rea$onabty bg 8xpectèd to influer¥ce th8 economic dgdsions of users taken on the basis of these finandal slalèmènls. Irregularit1&5, Indudlng fr4ud, are In8tan(*s of non-complianco wlth laws and wulalions. We design procedures in line with our responsibl1￿9s, ouUSned above. to detect material misslatomenls in respect of irregularities. ncluding fraud. Th8 8Xtenl to which our procedt6r6s aro capabb of detecting iThegularrti8s, Including fraud is detailgd below.. Enquiry of manag•m8nl and those charged with govamanco around actual and pOl8n￿al IkUgatMJn and daims.. P8rforming audit work over th8 dsk of management oveFThle of controls, Sndudlng testing of joumal enlrios and other adjustments for appropriateness, ￿aluatIng the business rauonalo of significant transactions outside the norm81 ￿￿r$tr of business and rewewing a¢¢ounting e5timaleB for bias.. R￿ewIng minutgs of moetOng8 ofthose chargod with govemance.. and Re￿ewIng ftnanoal statement disdosures and tèsting to Supporting docum8nlation lo assgss compllanc• with apph'cablè law¥ and regulations. Be¢au5e of the inh8rent1Smitation5 of an audit, there is a rfsk that we will not detect all Irr8gularitigs. kndudlng those loadlng to 8 material misstatement in tha finanual statements or nor￿COMplianc8 wlth regulation. This ri$k Incroa5e5 the more that oompllance With a law or Tegulation is removed from the events and transact￿￿$ reflected in thg finan¢ial statements, as we will b8 kss likely lo become aware of inslanoes of non-compllance. The risk Is also greater regarding iThegularitios o¢curring due lo fraud rathar than error, as fraud invoFve5 intontlonal Conce￿￿ent forggry, coiluslon, omi881on or fflisreprasentatlon. A further des(￿p¢lOn of our rgsponsibrtthes for the audit of the finandal 8tatemenl8 is located on the Finanrial Reporting CoLtncil's w¥b$ite 41.. vhvw frc.o ukjaudl This descrfptlon fomis part of our Auditots Report. Page 7 JOSEPH TOOMEY CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION {CONTINUEDI Uso of our rnport This rèport is made sc4ely to th8 charitable Companls trustees. as a body. In aDy)rdan¢e w￿h Part 4 of the Chaiilies {Accounts and Reports) Regulatlons 2008. Our audit work ha$ bg&n undertaken 50 that we might stsle 10 tho charitablg companl$ trustees those matters we are required lo slate to them in an Audilotr$ Report and for no other purpose. To the fttll&st axtanl permitted by law, we do not accept or assume respon$ibillty lo anyone other than the thartsblg company and ils members, as a body, for our audit woll(. for this reporL or for the opinions we have fornieil. MHA Statutory Audllor Colchester, United Kingdom Date.. 20 September 2024 MHA are ellglbb lo act as al￿110￿ in terms of section 1212 of Companies Ad 2006. MHA 18 the trading name of M8¢In￿• Hudwn LLP. a limiiad liabllKy partnorthip in England and Wales {regi8tered numb¢r QC3123131. Pag6 8 JOSEPH TOOMEY CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES IIHCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Unr•strlcted fund8 2023 Totsl fvnd$ 2023 Total funds 2022 In¢om• from: Donatlons and legactes 17 17 252.520 Total Incomo 17 17 252,520 Expendltuve on: Charilabl8 actlvNi&s 60.735 60.735 24.609 Total •xp•ndlturn 60.735 811,735 24,609 N•t movomont In fund¥ 160.7181 160.7181 227.911 R•¢onclllatlon of funds: Total fvnLls brought fo￿8¥d Not movamgnt in funds 479.994 160.7181 479.994 160.7181 252,083 227,911 Total fund• ¢4rrf•d fohYaTd 419.278 419,276 479,994 The Statem6nt of Flnanckl Adivities indudes all gains and losses r￿gnised in the yew. Th8 notes on pages 12 to 20 form part of th4$9 financial stalem8nls. Paga 9 JOSEPH TOOMEY CHARITABLE FOUNDATION REGISTERED NUMBER: CE022375 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Noto Flxod a¥Mts Investments Currnnt aM•ts 10,001 io,ooi Cash at bank and in hand 416.715 475,633 416.715 475,633 Cfeditors.. amounts falllng due within one year 10 17.4401 (5,640J Not currpnt assèts 409.275 469.993 Totsl n•t a4￿t8 419.276 479,994 Ch4rfty funds Restrtct8(J funds Unreslrl¢t8d fund¥ General fvnds 11 419.276 479,994 Total unre3tric*ed fiJnd$ 419.276 479,994 Total fund$ 419,276 479.994 The entty w8$ gnlitled to exemption from audit under 5OCtiorb 477 oftho Compani05 Act 20C*. The members hav8 not rgqulred the entlty lo obtaln an auLItt for thè year in question in accordance with section 476 ofthe Companies Act 2006. Howevgr, an audit IB f8qUiT9d In accordance wlth sgction 145 of the Charities Act 2011. Tho Trustees arknovledge their responsibllldes for cornplwng with the r8quiremenls of tho Ad wrfh r9$Pg¢t to accounting ro¢ords and preparation of finaneial Slaiements. The finanual slatsments have been prepared in accordanc8 wlth the provish￿S appl1¢ab￿ lo entities subject to th9 small companias rggime. The finanoal statements wor8 approved and 8Uthorfsed for issue by the Trustees and sKJngd on their behalf by.. .. CRo&S . Date.. 11 September 2024 Page 10 JOSEPH TOOMEY CHARITABLE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash t70￿ from op•rntlng actlvlllg8 Net cash u$ed in opefallng ac*￿IlIeS 168.9181 225, 151 Chango In cash and ¢ash •qulvalonts In the ￿ftr Cash and cash equNalents at the beglnnlng ofthe year 158,9181 475,633 225,151 250.482 Ca•h and Cayh equlv•hnts at th¢ end of the ymr 416,TIB 475,633 The notes on pages 12 to 20 fomi part of these finanaal stst9mgnts Page 11 JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 AccountSng pollcl 1.1 Ba¥1$ of pr•parntson of financlal statsmonts Thg finan(4al slatsmenl8 have been prgpafeil In accordan￿ with the Charitiès SORP IFRS 1021- Accountlng and Reporting by Charities.. Statement of Recommended Pr4¢llce applScable lo charities preparing their a¢¢ounts in accordance with thg Finanoal Reptsrknng Standard ap￿Icable in the UK and Republlc ol Ireland (FRS 102) (effective 1 January 20191, the Financwl ReportiNJ Standard appIl￿ble in th8 UK and Republic of Ireland IFRS 1021 and Ihe Companwts Act 2006. Joseph Toomey Charitoblo Foundation meets the definstion of a publi¢ benèfit entty under FRS 102. Ass91$ and liabiliti88 are initially re￿gnISed at hlstorical co81 or Iran¥action unle88 otheThvl80 stated in the relevant aczounting policy. 1.2 Going conc8m The Twsloes assess whether the u8e of the going tsjncem basis of preparation is appropriate, i.e. whether there are any material uncertainties related to èvanls of conditions that may cast significant doubt on the abilty of the Cornpany to continue a$ a going concem. Tho Truslg9$ maka thSs assessment In respèct of a period of atlgasl one year Irom the date of authorisation for issue of th¢ nanaal statements and have uJnduded that the Company has adequate resources to D)ntinue In oper8tional ￿Stence lor th8 for#wable future and that th8ro are no material uncertainties about the CoMpan￿S abilty lo oonlinutr a8 a going concern. The Level of res$rve8 held are atso deemed Suffiaenl lor the Cofflpanys fulura plans. thu$ th8 Company ¢ontinue¥ to adopt thg golng concem basiB of a¢￿untIng In prepailng the financial stat6m8nls. 1.3 In¢om• All incomo 1$ recognl8ed once tho Company ha8 entill8menl to the ino)me, It Is probab￿ that the income will be received and thg amount of income roceivablo be measur8(I reliabty. 1A Expendltsr• Exp9nditure 1$ recognised once thorg IS a legal or con5tru¢*ve oblig8Uon to Iransfw econonmc ber￿1 lo a Ihir¢J party. it 15 probabla that a transfer of economic b&n8ffts wlll be required in settlem8nt and the amount of thg obligation can be measured roliably. Expendilui8 is classified by a￿Vty. Th8 co818 of each act4vSty arè made up of the total of direct C051s and sharèd costs. induding s¥JPPOrt costs invofvtrd in undertaknn9 8a¢h actiwty. Direct C051s attributable lo a single actiwty are allocated dirgctty lo that activity. Shared ¢osls which contribut8 lo morp than one acts'vty and support costs which aré not attributable lo a single actiwty arg apportionè¢J be￿een thos• a¢bvibo8 on a basis consis18nl with th8 usg of resources. Contral staff c0513 are allocatod on the basts of time spent. and depwallon th8rg88 allocated on th8 portlon tsf the asseys use. Expenditure on charftablo 8thvitie5 is in￿rred on dlrectfy und8rtaking th8 aclSviYes whlth fvrther the Companws ob*the8, as well as any associated support costs. Grants payabl¥ are charg8d in thè y￿r when the offer 1$ mad& except in those cases where thg offgr is condthonal. Such grants being reownised as eX￿ndItUre when the condttion$ atta¢hing are fulftlled. Grants offorod $ubl&ct lo conditions whlch have not been mel at th8 yoar end ere noted as commrtrnent but not accrued as expenditurè. All exp8nditure Is indu5Ne of irr8COVgrablo VAT. Page 12 JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 310ECEMBER 2023 Ac¢ounilng Wlcl•¥ {contlnu•dl 1.5 Inve•lm•nts Fixed ass81 Investments are a form of financlal Instrument and are inithalty reo)gnised al the transaction cost and svbsequ8ntty measyTpd at fair value al Ihe Balanca Shegl date, unless Ihe valu& cannot be measured reliabty In wh￿h case il is measured al o)st less impairment. Inveslrnenl gains and los$es, whether realisod or unreall￿d, are eomblned and presentsd as 'Gain￿(Lo$s0$) on investments, in the Stalemonl of Finanryal Actmlies. 1.8 Llablllll•• and provl•lo Liabllilies are reco9nls•d when there is an obligation at the Balance Sheet date as a Tesult of a past ev6nl, it 1$ probable that a transfor of 8¢onomic benofft will be required in sottlemonl, and the amount of the S￿￿ernent can b8 eslimaled reliably. Liabl1￿¢$ arg re¢o9nised at the amount that the Company antiapales it wlll pay lo settlo the debt or th8 amount it has rec4ived as advanL*d payments for the goods Of $91wi¢as Il must provide. Provision$ are measured at the best estimate of the amounts roqulrgd to settfe the obllgalion. Where th¢ of the time valu6 of mon¥y is material, the prowsion is b8sad tsn the present value of those amount5, discounted al the prekntax dlscoLtnl rale that refiects the risks specific to tho 118bilty. Tho unwnding of the discount is rocognl$ed in the Slalemenl of Flnanclal AcUvili¥s as a finance cost. Incom• from donatlon* Ind logaclo UnMtrf¢tod funds 2D23 Total funds 2023 Donation$ 17 17 Unrvstricted funds 2022 Total lunds 2022 Donat1￿$ 252,520 252.520 Total 2022 252.520 252,520 Page 13 JOSEPH TOOMEY CHARITABLE FOUMDATION MOTES TO THE FIMANCIAL STATEME14TS FOR ThE YEAR ENDED 31 DECEMBER 2023 An•ty•f¥ of grnrts Grnnt• to I￿tItUtIOnS 2023 Tolal fvnd• 2023 Total fvnds 2022 Chèlmsford Citiien5 Advice 611,000 Page 14 ## **JOSEPH TOOMEY CHARITABLE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **4. Analysis of expenditure by activities** |Expenditure on charitable activities
Expenditure on charitable activities|**Grant**
**funding of**
**activities**
**2023**
**£**
50,000|**Support**
**costs**
**2023**
**£**
10,735
_Support_
_costs_
_2022_
_£_
_24,609_|**Total**
**funds**
**2023**
**£**
**60,735**| |---|---|---|---| ||||_Total_
_funds_
_2022_
_£_
_24,609_| ## **Analysis of support costs** |Website costs
Bank charges
Governance costs (note 5)|**Total**
**funds**
**2023**
**£**
**1,224**
**109**
**9,402**
**10,735**|_Total_
_funds_
_2022_
_£_
_-_
_78_
_24,531_
_24,609_| |---|---|---| Page 15 JOSEPH TOOMEY CHARrrABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Gov•rnan¢• costs Unr•strlct•d fund8 2023 Total fund8 2023 Audrto¢s remunoration L¥gal and professional 7,440 1.962 Total 2Q23 9,402 9,402 Unrnstricted funds 2022 Total fvnds 2022 Audrtoes wmunoration 5,280 4280 Audltorf• rnmun•ratlon 2023 2022 Faes payablo lo the Cornpanvs audllor forthe audit of the Companls annual accourrts 5,280 4280 Fee$ payable lo thè Compan¥s auditor in respect of.- All non-audil serwces nol indu¢led above 2,160 Tr￿￿¢$. r•munornllon and gxpgns•s During tho year, no Trust00$ le￿￿d any remuneration or oth8r benefits (2022- £NILI. During tho ￿ar endod 31 Decernber 2023. rKJ Trustee expenses have beon inLwrred {2022- £NILJ. Slaff ¢0•18 No employee received rgmuneiallon arnounting to more than £80.000 in •ithoryear. Page 16 JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FIx8d asg•t In￿•1M•ntr Unllst•d Inv￿lMOnts Cost or valu•Ur*n At 1 January 2023 10,001 At 31 D8c8mb8r 2023 10,001 Not book valu• At 31 Deceffl￿r 2023 10.001 At 31 D8c6mber2022 10,001 There were no fixed ass8ts outsid¥ the UK. The fix8d a$$et investment relates to Iho share captsl hèkl by the tharity of MJT Securithes Limlted. Thi8 invèstment constilules 10LPA of thè ordinary share capital of MJT S9cuiiIK88 Lim*ted. The resutts of MJT Securiles limited hav9 not been consolidated into these fin8n¢i81 slalemenls. This is due to ths ¢harty not hawng the pow9r to govem am¢J dirgct the flnancial OT operational adMllg$ ol MJT Securities L6mited under any statute or agwement. as the operational polirie5 of MJT Securities Umlod are delerrnined and directed by thg Dlrectors of MJT Securillgs Limited. Joseph Toomey Charltable Foundation and MJT Securitios Limited do not operat8 a$ a $4nglo enl¢ty and tho risks and rew8id8 of MJT Securfties are not those ol the challty- 10. Crodltorn: Amounts falllng duo wlthln om ygar 2023 2022 Trade credllors Accruals and doferred incom8 320 5,320 5.640 Page 17 JOSEPH TOOMEY CHARITABLE FOUMDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Statsm•nt offunds Stat•mgnt olfvnth - currenty￿r Bahnce at 31 D•comb•r 2023 Balan￿ at 1 January 2023 In¢om• EX￿ndItUrn Unre8tr1ct•d fvnd¥ Unrgsldcted fijnds 479.994 17 160,73SI 419,276 stat•mgnt olfund•- prfor year Balance at 31 D8egmbe 2022 Balance 8t l January 2022 Incom8 Expgndituro UTrr•strl¢tsd fvnd• Un￿$tric￿d fvnds 252,083 252.520 (24,609) 4T9,994 12. Summary of funds Summary of funds- curr•nt yo4r Bal•nc• at 31 Balancg at 1 January 2023 Dg¢omb•r 2023 In¢om• Ex￿ndItUr• Ggn&r•l fund 479,994 17 160,7351 419.276 Summary ol fvnd• - prlor y•ar Balance at 31 Dgcgmbor 2022 Balance al 1 January 2022 Incom8 Expendllure General funds 252,083 252,520 f24,609J 479.994 Page 18 JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1& AnatyBl• of net a$8•ts b9twe•n fund• I￿18 of net amets botwwn funds- ¢un¥nty UnMtrf¢tsd funds 2023 Totsl funds 2023 Flxed asset investments cu￿Ont a55els Creditofs due wthin one year 10.001 418,715 17.4401 10,001 416,Y15 IYA401 Total 419,276 419,276 Anaty¥ls of n•t avots b•tw•on fvndJ- prfor ygar Unrestiycted funds 2022 Total funds 2022 Fixed asset Investments Curront a$sgts Creditors due within one yoar 10,001 475,633 (5,640) io,ooi 475,633 (4640) Total 479.994 479,994 14. R•conclllatlon of not mov•m•nt In fund• tr* not ¢a•h Ilow from oporntlng actlvltt•8 2023 2022 Nèl incomelexpenditure for the year (as par Statemenl ol FinancAal Activitie$) 160,7181 227.911 AdJu•kn•nts for. Inc¥easelld8ug0s91 In credttor8 1.800 f2.760J Not cash provld•d byllumd Inl opwatlng actlvlU¢¥ {68.918) 225. 151 Page 19 JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1& Analys55 of c•sh and ea*h •qUi￿l￿ts 2023 2022 Cash In hand 416,715 475,633 Total ca•h and Ga¥h oquEvalents 416.715 475.633 Analy•l• of ¢hangM In not debt At1 J•nuary 2023 Cash flow• At31 09¢omb•r 2023 Cash at bank and In hand 475.633 168,9181 416.715 476,633 158.9181 416.715 Page 20