R•gl$tsr•d numbor. CE022376 Charity numb•r: 1190223 JOSEPH TOOMEY CHARITABLE FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
JOSEPH TOOMEY CHARITABLE FOUNDATION CONTENTS Pag8 ROfornn and Admlnl8trattv• D•lall8 of th• Companyi Its Trust••s and Advl•?rn Trugtees. Report Trusteeg. R05ponsibiliti•s Statement Independent Audito8 Report on the Flnanclal Statomonts stat•m•nt of Flnanclal A¢tivitl•s Balance Shoot 10-11 ststornont of Calh Flowj 12 Noto¥ to thg Financial St#tsmonts 13-21
JOSEPH TOOMEY CHARABLE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Truslees who ara also dirfydors of Ihg charitabla company for th8 purposes of Ihe Companie5 Act 20[8. present theSr annual report together with the audited finan<xal slalements of thè Jo$eph Toomey Charitable Foundation lor the year 1 January 2024 10 31 December 2C124. The Annual Report serves Ihe purposes of both a Trustees, report and a directors, Teport under wmpany law. The Trustees confirm that the Annual Report and finanrAal Statements ol the charitable company complywilh the ¢urrent stalulory requirements, the raquirements of th& charitablo companls goveming docurnenl and the prowsions of the Statement of Recommended Practi¢e (SORP} applicable lo charities preparlng their accounts In accordance with the Finanal Reporting Standard appllcablg In the UK and Rgpublic of Irgland IFRS102) {eff8ctiva 1 January 20191. OBJECTIVES AND ACTM71ES a. Obl¢¢tlvfr8 and alm8 The oblectlve of the charity is to relieve the needs of elderly persons through the provision of bw-cosl home ownership and a550cialBd seNcgs lo address their noedg. b. Slgntficant actfv5tl•s Followbng on frorn our successful as$odatitsn with Chelmsford Cilvzen'5 A(fvice in 2023. the Trustees have rèfined the proces$ further lo en8ble More projeds lo be carried out, whilst minirnising risk to the Charity. Tha Trusl8&s app¢inled Fusion Project Mgnagemenl lo Implement an Inspection, spedficallon and tender progfamme on potontial grant applicatlons. Fusion PTovid8 Independent cost certainty for various proie¢ts, and coupled with Citizens Advir£ Chelmsford's due diligence input. the Trustees are confident that awards ore appropriato and proportionate. Thls will assi51 further charitable expendituro in 2025. Publlc b•n¢fft In setting objé¢tives and planning for actNiti¥s, the Trustees have givgn due considaration lo gan81 guidance published by the Charity Commission relatin9 to public banefil, including the guidance 'Public benefit.. running a arity IPB21'. STRATEGIC REPORT R88oNa• poIIcy The charity operates a r8s¢rvg policy to gnsura that sufflci&nl funds are held foT committed Charltab expenditurg and operational ojsts. Unrestricted reservas of £460,2414re hold at tha p8rSod ond. Page 2
JOSEPH TOOMEY CHARITABLE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT l¢onUnuèdl Golng conc•rn After maknng appropriate enqulri8s, the Trustees have a reasonable expectation that the Company has adequate resources lo continue in operational existenco for the foreseeable future. For this rea30n, they conts'nue lo adopt the going concem basls In preparing the financial statements. Furthor d8talls regardlng the adoption of the going concern basis can b8 found in tho accounting policigs. STRUCTURE. GOVERNANCE ANO MANAGEMENT Gov•rnlng document Joseph Toomey Charitable Foundation is rggislered as a charitable cornpany limited by guarantee and was set up by a Trust daed. Rgcrutkn•nt and appolntrnont of n•w trust The charity was incorpofaled with a board of eleven original charity trustees. The trustees comprise family membèrs of Michael Toomey, Clèrical membors of the Rofflan Catholic ChuTch and gxecutlve and non-execuliv# directors of the founding company. The trustees are aware that additional trustees, taken from the groupings above, will be able to PTowde addTtional sklls and knowledg& to enable the charty to meet tt)e objectSv8s sot out in the constitution. Since incorporation, a number ol new trustees have been identified and welcomes to the board, having mel I eligibility critèria sel out in the conslllulion. DSsclosurn of Inforniotlon to audFtor Each of the persons who are Trustees at tha limè vthen this Trustees, Report is approved has confirrned that.. so far as that Trusleo 1$ awaTe, there is no relevant audit infomalion of which tho chaTitls audilor Is unaware, and that Trustèe has taken all the steps that ought lo have been taken as a Truslge In ord8r to ba aware of any relevant audit information and to estabsh that the charitls auditor 15 aware of that infomialion. Approved èr of the member5 of the board of Tru31eg5 and signed on their b&haW by.. Date.. Page 3
JOSEPH TOOMEY CHARITABLE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Tru8lpes (who are also the directors of the Company foi the purposes of )rnpany lawl arg rgsponsible for preparing the Tnjslees, RgPQrt incjuding the Strategic Raport and ihe financial statements in a¢cordance wfth applicable law and United Trfj"ngdom Accounting Standard5 (United Kingdom Generalty Accepted Ac¢ounling Practice). Company law requires the Twst98S to prepare financial $18lements for eac*i finanryal year. Under rnPany law. the Twsteas must not approve the financial slalements unless they aTe satisfied that they giv8 a true atxl fair view of the slate of affairs of thg Company ar ol Ils incoming resources and application of resources, indudlng its income and exp8nditurè, for that p&riod. In Prepan9 thasè finanal statements, the Trusl8a8 are rgqulred to.. Select Suitable aUnting polSc19s and then apply Ihetn consislenlly.. observe the methods and prfndplgs of the Charities SORP {FRS 102)., make judgments and accounting 9Stimates that are Teasonable and prudent,. stale whetheT applicable UK Accounting Standards IFRS 1021 have been follr)w8d, subject lo any materlal departures disclosed and explained in the financial stalemenl5', prepare the flnancial statements on the going concarn basis unless it is inappropriate lo presume that the Cornpany will conllnue in businoss. The Trustees arg responsible for keeping adpqualg aoUntIng records that arg suffirAent to show and explain the Cornpanls tran$actions and disdose with r8a50nable accuracy 8t any time the financlal po&lion of the Company and enable them lo ensure that the financial statements comply with th9 Companies Act 2006. They are also fasponsible for safeguardlng the assets of the Company and hen for tsking rea8onabla stsps for the prevenllon and detection of fra¢Jd and othér irrègularilies. Approved by order of the members of the ix)afd of Trustees and signad on its behalf by.. Dale: Page 4
JOSEPH TOOMEY CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION Oplnlon We have audited the finanoal stal&menls of Josoph Toomoy Charitabl8 Foundalion Ith& 'eharilable company) for the year ended 31 December 2024 which comprise the Statement of Financial ACtIties. the Balance Sheet. Ihe Statement of Cash Flows and the ielaled notes, including a surnmary of Significant a¢UntIng policias. The financial reporting frarnework that has been appliod in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Slandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our oplnlon Ihg finandal s18lernents-. gtve a true and fair view of the slate of the charitablo companls affairs as at 31 December 2024 and of ils incoming resources and application of ra$our¢85, including 11$ incom$ and gxpènditure for thè year than ended.. havo beèn properfy prepared in accordanc8 with Unitèd Kln9dom Ganaralty Accgpled Accounting Practice; and have fjn prepared in accordance with the requirements oflha Charli$ Act 2011. Ba#1$ for opinlon We conducted our audit in accordance wllh Internalnal Standards on Auditing (UK) IISAS (UK)) and appli¢>blg law. Our rèsponsibillii95 undei those standards are furthar descrlb&d In the Audito1$ responsibllilies for the audit of tho finanaal Stslements section of our rèport. We are independent of the charitable cornpany in accordance wilh thg olhical requirements Ihal aro relgvant lo our audit of the financlal statements in the United Kingdom. including the FinanrAal Reporting CoUn1,S Ethical Standard. and we have fulfilled our other 8lhical re8ponsibileS in accordance wf(h Ihe8e requirements. We believe that the audit gwd9nce wg have obt8lned ¢5 sufficient and appropriato to Provide a basis for our opinion. Concluslons r¢latlng to golng conc•rn In 8uditlng the finanaal slal$menls. we have ojnduded that the Tru$lea$' use of the going concem basis of accounting In the preparation of the financAal statements is appropriate. Based on thg work we have performed. we have nut identified any rnalerial uncertainties relating lo events or condition$ that, individually or ¢0119dvely, may cast significant doubt on the charitablè companys abilty to continue as a going concern foi a period of al least tsvel month5 from when the finanaal 51aternents arg authorS$ed for Ssstse. Our re$ponsibllilie5 and th8 responsibilitie8 of Ihe Tru51ees with rgspact lo going con¢em aro described in the Iolevanl sections of this report. Page 5
JOSEPH TOOMEY CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION ICONTINUEDI Other Inlomiation The other information comprises the informalion induded in the Annual Report other than the financial statements and our Audilorfs Report Ihereon. The Trustees are responsible for the other information contalned within the Annual Report. Our opinion on the financial Statements does not cover the other infomalion and, except lo the oxlenl olherwisa explicitly slated in our report. w8 do not exprass any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether thg olh$r inlormation18 materially inconBislenl with the financial statements or our knowledge obtained in the Course of th8 audit, or otherwise appears lo bg materlalty misstatod. If wa Id9ntfy such material IncnsIStenes or apparent material misstatements. we are required to dètèmiinè whethèr this gives rise to a material misstatement in the rinancial statements Ihèmselvos. If, based on the work w8 have perforrned, we conclude th81 there Is a material misstatement of this olheT information, we are required lo report that fact. We havg nothlng lo report in thi5 regard. Matters on whlch w• aro r8qulrgd to r•port by ex¢•ptlon We have nothing lo report in re$p8¢t of the following matters where the Charities (Accoun15 and Report5) Regulations 2008 requlras us lo report lo you if, in our opinion-. the infonnatlon gfvgn In the Tru8tee8' Report is inconsistent in any material respect wilh th8 financ4al Statements., or 5uffictent accounting racoids havo not bean kept,. or the ffinancial statements are not in 8greement with the accounting records and reluTns-. or we have not received all the infomiallon and explanations we require for our audit. Rosponslbllltlv4 of tru¥tses As explained more fvlly in the Trustees, Responsibil$ Statement, the Trustees (who are also the directors of thè charitable company for the purposes of company lawl are responsible for the preparation of thè finanaal 51alement5 and lor bèing satisfied that they give a tru8 and fair wew, and for such inlemal control as the Trustees dalemine is necessary to anablg tho preparation ol finanal statements that are fr99 from material mlsslatemenl, whether due to fraud tsr error. In Preparing the finan(xal statements. the Trustaes arg rosponsible for a55essing the chaTilable cAJmpanls ablllty to continue as a going concem, dlsrjosing, as applicable, matters relatad to going concern and using the going concem basis of aluntIng unless the Trustees eith8r Inl8nd lo Ilquldate tha charitable company or to cease operations, or hava no alIStiC allernalive bul to do so. Pagè 6
JOSEPH TOOMEY CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION {CONTINUEDI Auditof• Mipon¥iblllti•• for the audit of th• financl*l •tstom•nts We have been appointed as auditor under se&ion 145 of the Charities Act 2011 and report in ac¢ordance with the Act and relevant reyulalion8 made or having effect Ihereurbdei. OUT Dbjectives are to obtain reasonable assurance about whether the financial slalements as a whole are free from material misstatement. wh8lher due to fraud or èrror, and tr) issuè an Audilorfs Report thal includes our opSnlon. Reasonable assuran¢e is a high level of assurance, bul is not a guarantee that an audll ¢ondu¢tgd In accordance with ISAS {UK) wil aayS datget a matarial mis$latem8nl when it exists. Misslalemenls can arise from fraud or èrror and are considered material rf, individually or in the 8ggrègale. th&y could reasonably be expected lo Influence the economic deasions of Ltrsers lak9n on the basls of these financtal statements. Ifregularitie5. induding fraud, are instan5 of non-compllanco wSlh laws and rogulalons. We dgsign procedure$ in line with our rgsponsibilrti8s, ouuinéd above, to dÈle¢t material rni5slalemonts in respgct of irr8gulartfje$. induding fraud. The exlenl lo which our wocedures are capable of detecting irregularities, induding fraud d9tallad bglow.. Enquiry of managemfjnl and thos¢ charged wlh govemance around actual and polenb'al litigation and daims., Perfomlng audf( work over the risk of rnanagom8nl ovgrrida of ntrol. including tgsting of joumal ontrie$ and other adju8lmenls for appropriatanass, avalualing tho business ralionalo of signrficanl transactions outside Ihe normal course of business and rèvièwing a¢¢ounllng o$timal&s for bias,. Raviewng minute8 of meetings of Ihoso chargad with govemance- and Remewing ffinancial slalernenl disdo8ures and testing to supporting documentation lo assgss wmpliance wilh applicable laws and r89ulalion$. 8ecau5e of the inhewnt limitations of an aLt(tit, there is a Tisk that Wg will not detgct all irregulari118s, Including those leading lo a material misstatamBnt in the financial 51alemen15 or non-cornpliance wlh regulabon. This risk increases the more that compliance with a law or regulation 1$ removed from the events and transactions rellèctad in the finanrial slalemants, as w9 will be less likely lo become aware of instances of norKompliance. The risk is also greatar regarding irrggularitie5 occurring due to fraud ralhgf than error, as fraud involves intentional conwlment. forgery, collusion. omission or misr8Pfesenlatlon. A further description of our responsibilities for the audit of thè finan41 statements is located on the Financial Roporting Councif8 website at.. ww.fr . 8ibililies. This deSiPtiOn forrns part of our Auditor's Report. Pagg 7
JOSEPH TOOMEY CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOSEPH TOOMEY CHARITABLE FOUNDATION ICONTINUEDI Us• of OUT r•port This reporl is made solely to the ¢haritable ¢ompanls Iruslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that w8 might slate lo the charrtablg companls Iruslees those matter5 we are requlrad lo stsle to Ihern In an Audilorfs Report and for no other purpose. To the fullest ext&nl parmittèd by law, wa do not accept or assume responsibility to anyone other than the Charitable company and Ils members. as a body. lor our audit wo. for this report. or for the opinion5 we have formed. MHA Slatuttsry Auditor Colchgster. United ng{loM Dale.. MHA are ellgibte to act a8 auditors in ten1 of section 1212 of thè C(*npgnles A¢t 2006. MHA is the trading name ol MHA Audk SeNces LLP. a lirniled liability partnership in England and Wales Ireglstor9d number OC4555421. Page 8
JOSEPH TOOMEY CHARABLE FOUNDATION STATEMEprr OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unfe¥tri¢ted lunds 2024 Total fund$ 2024 Total funds 2023 Mots Income from: Donations and legacies Invgslments 150.OQO 2.647 150,000 2.647 17 Total Incom• 152,647 152.647 IT Expenditurn on: Charitable aclivilies 111.682 111.682 60,735 Totsl POndItur0 111,682 111,682 60,735 N•t movemont In funds 40,968 40.965 (60,718) Reconciliatlon of funds: Total funds brought fonyard Nel rnovement in funds 419,276 40,965 419,278 40.96S 479,994 (60,718) Totsl lund$ ¢arrl•d fopmard 460,241 460,241 419,276 The Statement of Financial Acti11$ includes all 98ln5 and1065es recognlsed in the year. The notes on pages 13 10 21 form part of these financial $181ements. Page 9
JOSEPH TOOMEY CHARITABLE FOUNDATION REGISTERED NUMBER: CE022375 BALANCE SHE AS AT 31 DECEMBER 2024 2024 2023 Nots Flxgd a$sgts Investmants 10.001 to,ooi 10.001 10,001 Currnnt a880ts Debtors Cash al bank and Sn hand 10 2.375 456,054 416. 715 457A29 416. 715 Creditors.. amounts falling duo wilhin ono year ,1891 (7,440) N•t ¢urrnnt a#¥ets 450.240 409,275 Total ass•ts 1oM curront IlablltUo8 460.241 419,276 Not aets •xcludlng p•nslon aslet 460.241 419,276 Total net assets 460.241 419,276 Charlty funds Re3trided fijnds Unrestricted funds 12 General funds 12 460,241 419,2T6 Total unreslricted funds 12 460.241 419,276 Total fvnd• 460.241 419,276 Thè entity was entitlgd to oxemption from audlt under sedon 477 ofthe Companies A¢t 2006. The members have not raquired the entity lo obtain an audit for the year in question in accordance vrith section 476 of the Companle¥ Act 2006. Howevgr, an audit is requlred in 8ccordance with section 145 of the Charities Act 2011. The Trustees acknowledge their responsSbililies for cOmpln9 wKh tho roquiremenls of the Act wlh respect to accounting records and pr8paralion of financial statements. The financial stalem9nt$ have been preparad in accordance with the provlslons appIlble lo entitie$ subject lo the small companies regime. Pag8 10
JOSEPH TOOMEY CHARITABLE FOUNDATION REGISTERED NUMBER: CE022375 BALANCE SHEET {CONTINUEDI ASAT 31 DECEMBER 2024 Thg finandal statamenls w8r8 approved and aulhoris¥d for issue by the Trustee5 8nd signed on their behalf by.. Dale.. Page11
JOSEPH TOOMEY CHARITABLE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cuh flows from op•r4tlng a¢tlvlti Net cash used in operaling activrt5es 38,339 (58,918) Chang• In e4$h and ¢a•h ?qulvalents In the year Cash and cash equivalents at the beginning of thg year 38.339 168,9181 475,633 416,715 Cash and cash •quivalonts at th8 ènd of tho yèar 455.054 416, 715 The notes on pag8$ 13 to 21 fom part ofthese finanrAal slalements Page 12
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting poliel•• 1.1 Bast8 of proparnlon of financlal stat•ments The financial 51alements have b•en prepared in accordance with tho Charities SORP IFRS 1021 Accounting and R?pothng by Charthes.. Statement of Recommended PraGtice applirable lo cha15 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191, the Financial Repoiting Standard applicable in the UK and RepLFblic of Ireland IFRS 1021 and the Companies Ac< 2LXJ6. Joseph Toomey Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognIs at historical ¢osl or transaction value unbss otherwlse staled in the r8lwant accounting policy. 1.2 Golng concorn The Trust8es asse¥s whether the use of the going concem basis of preparation is appropriatè, i.a. wh91har IhpT8 ale any material uncertaintles relalod lo events of conditions that may cast significant doubl on the abilty of thè Company lo continue as a going concern. The Trustees mako this a8sessment in respect of a period of at least one year from tha date of aulhorisation for issuo of the financSal slalemenls and have conduded that the Company ha8 adequate re30urces lo continue in operational existence for thg forg$oèablo future and that there are no material unc4rtainlios about tho Cornpanls ability lo conllnue as a going concem. The Level of r8saNos held are also dogmed suffiaanl for the Compan$ fvlure plans, thus tho Company continues to adopt the going concem ba$is of accounting In preparing financial staloments. 1.3 In¢om• All inrne is recognised once the Cornpany has en1rf19menl lo the in¢om8, il is probable that the Income wlll be received and the amount of income receivable can be maasurèd reliably. IA EXPendirn Expenditurè is r$¢ognised once thoro is a legal or ¢onslructiV8 obligation to transfar acnnomlc benèfit to a Ihlrd party, il is probable that a transfer of economic banéfi15 will be required in settlernonl and the amount of the obligation can be measured reliably. Exptsnditure is dassified by actimty. Thè costs of each activity are made up of the lolal ol direct cos15 and shared costs. Includlng 8UPPOrt costs involved in undertaking each aclwity. Direct costs attribLrtablg to a single acliwty are allocated dIrolY lo that activity. Shared co8ls which contribute lo more than one activty and support ¢0s1s which are not attributable to a single artivity are apportioned be8&n those activities on a basis consistent wllh Ihe use of resources. CènlT81 staff costs are allocalad on the basis of time spanl. and dgpreciallon charges allocal8d on the portion of the a$$81's use. Expenditure on charitable aclMlie8 is incurred on directty undertaking the activities vthlch furthei the Companys obiectives, as wel as any associated support C4Jsts. Grants payable are charged in the year when th8 offer is made except in those cas8$ where the offer Ss conditional, such grants being reoognised as expenditure when the conditions attaching are fuilled. Grants offered subl$¢l lo conditions which hava not been met al the ygar and are noted as a mmrtmenL but not accrued as expendituro. All expenditura 1$ indusive ol irTecov8rable VAT. Page 13
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 Accountlng pollclej {contlnuedl 1.5 Interost rec•lvable Interest on funds hgld on deposit is incbudod wh9n Tgc8ivable and the amount can be rneasured reliably by the Cornpany,. this 15 nomialfy upon nolificalion of the interest paid or payable by the institution with whorn tha funds ar8 doposited. 1.6 Inv•stsn•nts Fixed a55el investments aro a form of finanaal instrument and are inilialty recognised 4t their transaction cost and sub5equenlty measured at fair value at the Balance Sheet dale, unless the value nnol btr measured reliably in which case it is measured al c05t less impairment. Investment gain5 and losses. whether roalised or unreallsed, are comblned and presgnted as 'GainsllLossesl on investrnenls, in the Statement of Finanaal AcallAt. 1.7 Dgbtors Trade and othor debloT5 are recognised at th8 settlement amount after any trado dlswunl offered. Prèpayrngrils are valued at the amount prepaid net of any trade discounts due. 1.8 Llabllltlgs and provl¥lon• Liabilities are recognised when there is an obli9ation at Ihg Balance Sh891 date as a result of a past event. it is probable that a Iransfgr of economic ben8fil will be required in 5ettlemonl, and the amount of th& sèttlèmènt can bg 951imaled reliabty. LSabililies aw re¢ognised al the amount that th6 Company anlicipatos tt wlll pay lo setlle the debt or the amount il has received as adVatO paymènts ft*r the goods or services il must provide. Provisions arg measured al the best estimate of th¢ amounts required to settle th¢ obligation. Whero the effect of the time valu& ol monéy is ma1èri31, the provision 15 based on the present value of those amounts, discounted at the pre-tax diso)unt rale that reflects the risks sp¢cffic lo the liability. The unwinding of the discount is iacognisod in thè Stalomonl of Fiftancial Activities as a finance $1. Pag8 14
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Incomo from donatlons and 1ogacl8s Unrostrl¢tsd fund4 2024 Totsl fund• 2024 Donations 150,000 150.000 Unresthcled funds 2023 Total fund$ 2023 Donallons 17 17 Total 2023 17 17 Invg•trn•nt Incom• Unrn8trJGtsd funds 2024 Total funds 2024 Total funds 2023 Deposit account interest 2,647 2.847 Analysls of •xp•ndrturg by aCtIvl•S Grant fundlng of activitie¥ 2024 Support COSts 2024 Total funds 2024 Exponditure on charitablg actlv5Jes 100,000 11.682 111.682 Page 15
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analygls of •xp•ndIfe by a¢tlvltl•¥ l¢ontlnuodl Grnnt fvnding ol activities 2023 Support Costs 2023 rotal funds 2023 Expenditure on charitablo aclivrtigs 50,c0 10,735 6Q,735 All grants mad9 in the current and prlor year were provld8d lo Chelmsford CRlz8ns Advice. Analysls ofsupport ¢o•ts Total funds 2024 Total funds 2023 Websfge costs Bank chaTges Sundries G0manc$ ¢0sts (note 51 1,224 109 107 3,500 8.075 9,402 11.682 10, T35 Page 16
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 GovornanG8 costs Unrostrlct•d funds 2024 Total fund¥ 2024 Auditots remun8ralion Legg1 and professional 7,528 547 7,520 54Y Total 2024 8,075 8,075 Untt¥slhcled funds 2023 Total fvnds 2023 Audilorfs Temuneration Lggal and professional T,440 1,962 7.440 1,962 Total 2023 9,402 9,402 AudStorfB romungrntlon 2024 2023 Fees payable to th9 Compans audltor for the audit of the Companys annual accounts 6.255 5,280 Fee$ payable lo the Companvs auditor In re3peo of.. All non-audit services not inctuded above 1,273 2, 160 Trustso1' r•mungratlon and •xp•n80• During the year. no Tnjstees receThied any rèmuneration or other benefits f2023- £NIU. During the year ended 31 DeceFnber 2024. no TTLbSteo 8xpènse$ have boen incurred (2023- £NILJ. Staff ¢o¥ts No employa8 re¢trived remuneration amounllng lo more than £60,000 in 8ithgr ygar. Page17
JOSEPH TOOMEY CHARITABLE FOUMDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Flxod a$$•t In1m9nts Unlistsd Investments Cost or valu•lon At 1 January 2024 10.001 At 31 December 2024 10.001 Net book value At 31 December 2024 10.001 At 31 DeGemb8r2023 10.001 TheTg wgrg no fixgd a$s9ts OLrtslde the UK. The fixed asset inve51menl relates to the share ¢aptal held by th8 charfty of MJT Securities Limited. Thls investment constilutas 1000h of the ordinary shawe capital of MJT Securities Limited. The results of MJT Securities Lim(ted have not been consolidated into these financial staternents. This is due to the charity not having the power to govem and direct the finanaal or oparational activities of MJT Securitlas LimSled under any statute or agreamant. a$ the operational policies ol MJT SerAJrilie5 Limited are delerrnined and directed by the DI¢torS of MJT Securjties Limited. Joseph Toomey Charitable FoLtndation and MJT Socurilies Limited do not operate a5 a singla entity and thè r4sks and rewards of MJT Socurilies a not those of the charity. 10. Dobtorn 2024 2023 Dug wlthln ong y•ar PTepaymenls and accnjed incom& 2.375 2.375 11. Crgdltor¥: Amounts falling dug wlthln on• y•ar 2024 2023 Attruals and deferred inwme 7,189 7,440 Page 18
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 Statsmont offund8 statom•nt of funds- curr•nt yoar Balan at 31 Balanc• at 1 January 2024 D•cembor 2024 Income Expenditurn UnTe•trlcted lunds UnTeslrlcied fund8 419,276 152.647 1111.682) 460.241 StAtsmont of fund8- prfor year Balance at 31 D6¢8mber 2023 88lanc& £t l January 2023 Income Exp8n¢ture Unr•$trlctsd fun(IB Unrestricted fiJnds 479,994 17 (60,735) 419,276 13. Anatysl$ of net b8tw••n funds AnatyslB of not ass•ts botw•on fund - eurrnnt porfod Unrnjtricted funds 2024 Totsl lund# 2024 Flxed assel investmonls CuTrent assets Creditors du9 wh1n one year 10,001 457,429 (7,189) 10,001 457,429 17,1891 Total 460,241 460,241 Page 19
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Analysls of n•t a8s0ts botw•on funds {¢onttnu•dl Analysls of n•t a$tS botw••n fund$- prfor perfod Unrnstrf¢t&d fund$ 2023 Tot funds 2023 Fixed asset Inveslmgnts Curr9nt assgls Credllixs dup within one year 10.001 416.715 17,440) 70,001 416, 715 (7,440? Totsl 419.276 419.276 14. Reconclllatlon of net movom•nt In funds to n•t eA•h flow from op•ratlng actlvltl•8 2024 2023 Net inc4)melexpènditure for the perio¢J las per Ststemenl of Flnandal Activitiès) 40.965 (60,718) Adjustments for. Inc¥eaBe/ldecreas81 in credltors 12.6261 7,800 N•t cash provldgd byllu•ed In) oporatlng activltlos 38.339 (58,918) 16. Anatysls of ca8h and cash •qulvalonts 2024 2023 Cash in hand 4S5.054 416,715 Total cash and cash •qulvalents 465.054 416,715 Page 20
JOSEPH TOOMEY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1& Analysls of changos In ngt d•bt At31 D•c•mb8r 2024 January 2024 Cash Ilo Cash al bank and In hand 416.715 38.339 456,054 416.715 38.339 4S5,054 Pago 21