Charity number: 1191441 THE TRUANTS FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 THE TRUANTS FOUNDATION CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees, report Trustees, responslbilities statement Lndependent examiner's report Statement of flnanclal actlvltles Balance sheet io Notes to the flnanclal statements 11-16 THE TRUANTS FOUNDATION REFERENCE AND ADMINISTRATIVE D￿AlLs OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Trustees Roderick Smallwood, Chair (appointed 23 September 20201 Steve Pennington, Trustee {appointed 23 September 2020) Charles Taylor. Trustee (appointed 23 September 20201 Edward Bennie, Trustee {appointed 23 September 2020) Mlchael Hole, TnJstee (appointed 23 September 2020) Thomas Baigrie. Trustee (appointed 23 September 20201 Alexander Milas, Trustee (appointed 23 September 2020) CharSty reglstered number 1191441 Principal office Matrix Studios 91 Peterborough Road London SW6 3BU Accountants SRLV Audlt Llmlted Chartered Accountants Elsley Court 20-22 Great Titchfield Street London WIW 8BE Page 1 THE TRUANTS FOUNDATION TRUSTEES. REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 The Trustees present their annual report together with the financlal ststements of the The Truants Foundation for the period 23 September 2020 to 30 September 2021. Objèctlves and actlvltles Policies and objertives In setilng objectlves and plannlng for actlvities. the Trustees have given due conslderatlon to general guidance published by the Charity Commisslon relating to public benefit, Including the guSdance 'Publlc benefit.. running a charity (PB21'. The Truants as a fundraising group was formed by Chairman Rod Smallwood in 2010. The charity became a Foundatlon and was registered wlth The Charlties Commlssion on 23 September 2020. b. Strategies for achieving objectives The oblectlves of the Charlty are to provlde the rellef of chlldren who are In need as a result of 111 health, poverty or financial hardship and for the preservation of life and promotlon of good health and welfare of people in any part of the world by the provision of financial assistance. The objectives include but are not limited to supporting four major charities throu9h various fundraislng events includlng International and UK Cycle Rides, Oinner events. onllne auctions and an annual Golf Day. c. Actlvltles undertaken to achleve obJectlve5 The last 12 months (from September 2020 September 20211 have not been without thelr challenges and successes. Due to the unprecedented contlnuatlon of the Global Pandemlc, It was stlll un5UStalnable to hold In-person events. With the assistance of a phenomenal 9roup of volunteers, The Truants Foundation was able to transition its annual event of Heavy Metal Truants to a virtual Challenge which saw over 100 people, from all over the world join the funijraising activity and created a strong basis to grow the digital arena for this part of the Foundation. A smaller group of orlglnal Truants were also able to take part In a 'seml-Internatlonal- event In Scotland, keeping the tradition of The Truants rides every 2 years going. Page 2 THE TRUANTS FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Objectlves and actlvltles (contlnued) d. Volunteers The followlng people have volunteered their time for the digital growth of Heavy Metal Truants only.. Phil 8irch Marusa Osteriek Olivia Digby-Barker Annie Davidson Graham Berry Phil Wallis The followlng people have volunteered their time for the Heavy Metsl Truants Committee.. Dave Shack Andy Hunns Jerry Ewin9 Aaron Aedy Paul Hope Emma Donoghue The followlng person has volunteered thelr tlme for the organisation of the Truants Golf Day.. Emlly Hole The followlng people have volunteered their tlme for the ¢￿atIve of Truants artwork: Stuart Crouch Matt Dlxon Melina Villaverde James Isaacs e. Maln actlvltles undertaken to further the Chadty's purposes for the publlc beneflt The followlng events were held during the period ended 30 September 2021:. MHT 9 Virtual - May/June 2021 The Truants Scotland Blke Rlde - September/Ottober 2021 Future events to be held are'.- The Truant5 Charity Golf Day on 22 Ortober 2021 Achlev•ments and performance a. Main achievements of the Charity The Charity donations are obtained via race nation and general donatlons. For the perfod ended 30 September 2021, the Charity received the following donations'.- Race nation - £114,592 General donations - £97,100 Page 3 THE TRUANTS FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Achlevements and performance (contlnued) b. Fundraising All funds obtained for any events are split equally between the following charities at the end of the activlty year.. The Truants (including GolQ'.- Childline/ NSPCC Nordoff Robbins Muslc Therapy Teenage Cancer Trust Heavy Metal Truants:" Save The Children Childlinel NSPCC Nordoff Robbins Muslc Therapy Teenage Cancer Trust Post year end the Chadty made donations totalling £500.100 to the above named charities. Fln•n¢l•l r¢¥l•w Golng concern After makSng approprlate enquines, the Trustees have a reasonable expettatlon that Charity has adequate resources to contlnue In operational existence for the foreseeable future. For this reason, they contlnue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption ol the golng concern basis can be found in the accounting policies. b. Reserves pollcy The Charity has a policy of keeping enough reserves to sustain the organisats'on, should all external funfjing cease, for a period of three months. Strurturei governance and management Constitutlon The Truants Foundab'on is a registered Charity. number 1191441. aniJ is constituted under a Trust deed. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Page 4 **THE TRUANTS FOUNDATION** ## **TRUSTEES'REPORT(CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2021** ## **Structure, governance and management (continued)** - c. Organisational structure and decision-making policies In accordance with the Governing Document the Trustees are responsible for the appointing of new trustees. New trustees are appointed where they have the necessary skills to contribute to the charity's management and development. When new trustees are appointed, they are given an introduction to the work of the trustees and provided with the information they need to fulfil their roles. Induction and training of new trustees Trustees responsibilities are explained to them before they accept appointment and they are given a copy of the Charity Commission's "The essential trustee: what you need to know, what you need to do", which they are encouraged to read. Each trustee then provides documentation to enable them to be independently checked under UK Anti Money Laundering legislation. Organisational structure The management committee is made up of: Roderick Smallwood Chairman Alexander Milas Trustee Michael Hole Trustee Thomas Baigrie Trustee Edward Bennie Trustee Steve Pennington Trustee Charles Taylor Trustee The senior management team is made up of: Helen Curl Charity secretary/Head Of Operations Charles Bradbrook Accountant Trustee Support The Truants Foundation has a board of Trustees that give their time freely for board duties. ## Management Support The Truants Foundation has a Head Of Operations, employed by the Chairman, who gives her time freely for all day to day organisational duties. Any expenditure that she deals with over £500 is approved by at least two Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: Rod Smallwood (Jul 28, 202213:20 GMT +2) **Roderick Smallwood** Chairman Date: July 28 2022 **Steve Pennington** Trustee July 28 2022 Page 5 THE TRUANTS FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE PERIOD ENDED 30 SEPTEMBER 2021 The Trustees are responslble for preparing the Trustees, report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel. The law appllcable to charltles in England & Wales requires the Trustees to prepare financlal statements for each financial period which give a true and fair view of the state of affairs of the Chanty and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: selert suitable accountino policie5 and then apply them consi5tently,' observe the method5 and principles of the Charities SORP IFRS 102),. make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial 5tatements', 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 responslble for keeplng adequate accountlng records that are sufficlent to show and explaln the Charlty's transactlons and disclose with reasonable accuracy at any tlme the flnancial posltlon of the Charlty and enable them to ensure that the financial statements comply with the Charitles 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 detertion of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on Its behalf by: Roderlck Smallwood Chalrman Steve Pennlngton Trustee Date.. July 28 2022 Page 6 THE TRUANTS FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Independent examlner's report to the Trustees of The Truants Foundatfjon I'the Cha￿ty,} I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 30 September 2021. Responsibilities and basis of report As the Trustees of the Charlty you are responslble for the preparatlon of the accounts In accordance wlth the requlrements of the Charltles Act 2011 I'the 2011 Act,). I report in respert of my examination of the Charity's attounts Carried out under section 145 of the 2011 Act and In carrylng out my examlnatlon I have followed the appllcable Dlrectlons glven by the Charlty Commission under section 145{Sllb) ol the 2011 Act. Independent examlner'5 Statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reportlng by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Ac¢ountino and Reporting by Charities.. Statement tsf Recommended Prartice IssuetJ on l April 2005 whlch Is referred to in the extant regulatlons but has been withdrawn. l understand that thls has been done In order for the accounts to provlde a true and falr vlew in accordance with the Generally Accepted Accounting Prartice effertive for reporting periods beginnlng on or after I January 2015, I have completed my examlnatlon. I confirm that no matters have come to my attentlon In connectlon wlth the examination giving me cause to belleve that in any material respect: accountSng records were not kept In respett of the Chadty as requlred by sectlon 130 of the 2011 Act,. or the accounts do not attord with those ￿e0rd5' or the accounts do not comply with the applicable reqU1￿ments concerning the form and content of accounts set out the Chadtles (Accounts and Reports) Regulatlons 2008 other than any requSrement that the accounts give a 'true and fair. view which is not a matter considered as part of an Independent examination. I have no concerns and have come across no other matters In connectlon with the examlnatlon to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 7 ## **THE TRUANTS FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2021** 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. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Dated: 28 July 2022 Richard Gilbert SRLV Audit Limited Chartered Accountants Elsley Court 20-22 Great Titchfield Street London WlW BBE Page 8 THE TRUANTS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Unrestricted Total funds tunds Perlod ended PÈriod ended 30 September 30 September 2021 2021 Note Income from: Donatlons 211,692 211,692 Total 5ncome 211,692 211,692 Experbditure on: Raislng funds.. Merchandlsing Charitable activities: 2,000 2.000 Event costs Other expendlture 250 12,091 250 12,091 Total expendlture 14,341 14,341 Net mov¢m¢nt In fund$ 197,351 197,351 Reconclllatlon of funds: Net movement in funds 197,351 197,351 Total funds carrl•d fonvard 197,351 197.351 The Statement oi financial activities includes all gains and losses ￿COgnised in the period. The notes on pages 11 to 16 fomi part of these Tinanclal statements. Page 9 ## **THE TRUANTS FOUNDATION** ## **BALANCE SHEET AS AT 30 SEPTEMBER 2021** ||||**2021**| |---|---|---|---| ||**Note**||**£**| |**Current assets**|||| |Cash at bank and in hand||**217,009**|| |||**217,009**|| |Creditors: amounts falling due within one year|9|**(19,658)**|| |**Net current assets**|||**197,351**| |**Total assets less current liabilities**|||**197,351**| |**Total net assets**|||**197,351**| |**Charity funds**|||| |Restricted funds|10||| |Unrestricted funds|10||**197,351**| |**Total funds**|||**197,351**| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Rod Smallwood {Jul 28, 202213:20 GMT+2) |**Roderick Smallwood**|**Steve**|**Pennington**| |---|---|---| |Chairman|Trustee|| ## Date: July 28 2022 The notes on pages 11 to 16 form part of these financial statements. Page 10 THE TRUANTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 General information The prfnclpal objectives of the Charity are the relief of people who are in need as a result of ill health, poverty or financial hardship and the preseNalion of life and promotion of the good health and welfare of people in any part of the wodd by the provision of financial assistance. The Truants Foundation is a Charitable Incorporated Organi5ation {CIO), with a charity registration number 1191441. The a￿(j￿$S of it's prlndpal office of the Chartty is Matrix 5tudlos, 91 Peterborough Road, London, SW6 3BU. Accountlng pollcles 2.1 Basls of pr•paratlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable In the UK and Republlc of Irelan¢J (FRS 1021 leffertive l January 20191. the FSnancial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charltles Act 2011. The financlal statements have been prepared to give a 'true and falr. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent requlred to provide a 'true and fair. view. This departure has involved following the Charities SORP IFRS 1021 published In ottober 2019 rather than the Accounting and Reptsrtlng by Charltles.. Statement Of Recommended Practlce effectlve from l Aprll 2005 whlch has slnce been wlthdrawn. The Truants Foundatlon meets the definitlon of a public benefit entlty under FRS 102. Assets and Ilabllilies are initially recognised at hlstorical cost or transartjon value unless otherwlse stated In the relevant accounting policy. The Charity's funrtional and presentational currency is pound steding. 2.2 Incom• All income Is recognised once the Charity has entltlement to the Income, It Is probable that the income will be received and the amount of income receivable can be measured reliably. 2.3 Expendlture Expenditure Ss recognlsed once there Is a legal or construttive oblSgatlon to transfer economlc benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the arnount of the obligatiorb can be measured reliably. Expenditure is classified by artivity. The costs of each artivity are made up of the total of dirett costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single attivlty are allocated directly to that activity. Shared costs which contribute to more than one actlvlty and sUPPOrt Costs whSch are not attributable to a single activity are apportloned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising fund5 indudes all expenditure incurred by the Charity to raise fund5 for its charitable purposes and includes costs of all fundraising activitles events and non-charltable trading. Expenditure on charitable artivities is incurred on directly undertaking the artivities which further the Charity's objecbves, as well as any associated support Costs. Page11 THE TRUANTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Accountlng pollcles (contlnued) 2.4 Cash at bank and in hand Cash at bank and In hand Indudes cash and short-tem) hlghly Ilquld Investments wlth a short maturity of three months or less from the date of acquisition or openlng of the deposlt or slmilar account. 2.5 Liabilities and provisions Llabllities are recognised when there Is an obllgatlon at the balance sheet date as a result of a past event, It is probable that a transfer of economlc benefit wlll be requlred In settlement, and the amount of the settlement can be estlmated reliably. 2.6 Financial instruments The Charlty only has nnanclal assets and nnanclal Ilabllltles of a klnd that quallfy as baslc flnanclal Instruments. Baslc financial Instruments are initially recognised at transaction value and subsequently measured at thelr settlement value with the exceptlon of bank loans whlch are subsequently measured at amortised cost using the effective interest method. 2.7 Fund accountlng General funds are unrestricted funds which are available for use at the dlscretion of the Trustees In furtherance of the general objectlves of the Charity and whlch have not been desSgnated for other purposes. Income from donatlons Total Unrestrlcted lunds funds Perlod Perl¢Jd ended ended 30 30 September September 2021 2021 Donations 211,692 211,692 Page 12 THE TRUANTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Analysis of expenditure on charitable artivities Summary by fund type Unrestricted Total funds funds Period ended Period ended 30 September 30 September 2021 2021 General fund 250 250 Summary by expenditure type Total other eosts funds Perlod Perlod •nded •nded 30 30 September Septernber 2021 2021 Admlnstratlon costs 250 250 other exp¢ndlture Unrestricted Total funds funds Period Peri¢xl endtd endtd 30 30 ptembor Séptern￿r 2021 2021 Bank charges Legal and professional fees Accountancy 373 8,118 3,600 373 8,118 3.600 12,091 12,091 Page 13 THE TRUANTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Analysis of expenditure by activitie5 Total Support costs funds Period ended Period ended 30 September 30 September 2021 2021 Admlnistratlon costs 250 250 Independent examlner'$ remuneratlon The independent examiner's remuneration amounts to an independent examiner fee of £3,600. SRLV Audlt Limlted's services were provided on a pro-bono basls and therefore £3,600 has been recorded as a donation received in the pedod in relatlon to this. Trnsteos, remuneratloTh and expenses During the period, no Trustee received any remLJneratlon or other beneflts, During the period ended 30 September 2021, legal and professional fee expenses totalling É8,118 were paid directly by Rod Smallwood, a Trustee. He made a £3,000 donation to the chadty to cover the legal and professlonal fee expenses and £5,118 is induded In other credltors. Credltorg: Amounts falllng due wlthln one year 2021 other creditors Accruals and deferred income 5,118 14,540 19.658 The Charity has deferred income totalling £14,540 which relates to subscriptions collected for the Truants Annual Golf Day taking place post period end. Page 14 THE TRUANTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 io. statement of furbds Statement ol lunds - current perlod Balance at 30 September 2021 Incomt EX￿ndIt￿re Unrestricted funds General Funds - all funds 211,692 (14,341) 197,351 Page 15 THE TRUANTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 11. Summary of funds Summary of funds - current perlod Balance at 30 September 2021 Income Expendlture General funds 211,692 (14,341) 197,351 12. Analysls of n•t assets betwe•n fvnds Analysls of net assets between funds - current perlod Vnrestrl¢t¢d funds 2021 Total funds 2021 Current assets Credltors due withln one year 217,009 119,658) 217,009 (19,658) Total 197,351 197,351 Page 16