**Charity Registration No. 01191507**
## **THE INFRARED CHARITABLE FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 31 DECEMBER 2021**
## **THE INFRARED CHARITABLE FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Werner Marc Friedrich Von Guionneau Edward Douglas Glover John George Julian Grumbar Christopher Paul Gill **Secretary** Emily Mendes **Charity number** 01191507 **Registered office** Level 7 One Bartholomew Close Barts Square London EC1A 7BL **Independent examiner** Andrew Rich C/o HW Fisher LLP Chartered Accountants Acre House 11-15 William Road London NW1 3ER
(Appointed 28 September 2020) (Appointed 28 September 2020) (Appointed 28 September 2020) (Appointed 28 September 2020)
## **THE INFRARED CHARITABLE FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 8|
## **THE INFRARED CHARITABLE FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2021**_
The Trustees present their report and financial statements for the period ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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)".
## **Objectives and activities**
The objects of the CIO are to advance such charitable purposes (according to the law of England and Wales) as the charity trustees see fit from time to time and in particular but not limited to:
- promoting social inclusion for the public benefit by preventing people from becoming Socially Excluded, relieving the needs of those people who are Socially Excluded and assisting them to integrate into society; and
- relieving sickness and the preservation of health by making grants to fund medical equipment, facilities or services for public benefit.
Nothing in the constitution shall authorise an application of the property of the CIO for the purposes which are not charitable in accordance Section 207 of the Charities Act 2011.
For the purpose of this clause "Socially Excluded" means being excluded from society, or parts of society, as a result of one of more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards; crime (either as a victim of crime or as an offender rehabilitating into society).
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
During the period covered by the accounts, grants were made to two charities; one supporting women and the other for men whose work is directed to the re-entry into employment of ex-offenders on their release from prison. Details of the grants will be found in note 5 of the accounts. It is intended that further grants will be made to each charity in 2022.
## **Financial review**
During the period charity's total income is £1,000,000 and total expenditure is £104,515.
The charity’s current activity is solely the making of grants. It has no employees and minimal expenses. In the circumstances, although it monitors its assets regularly to ensure that they are sufficient to meet its committed obligations it does not consider that a formal reserves policy is currently necessary.
The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Future plans**
The charity continues to review opportunities to make grants in accordance with its objectives and to consider what additional activities it may undertake in their furtherance.
In 2022-23, grant of £50,000 committed to Switchback and Working Chance each. Also, the charity will make a donation of £50,000 over one year in support of five schools. This payment will be paid by the charity to the Magic Breakfast charity.
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THE INFRARED CHARITABLE FOUNDATION
TRusfEES' REPORT (coKllNUEDI
FOR THE PERIOD ENDED 31 DECEMBER2021
Structurei governan and manawn*tt
The chaTity 15 a Iharitable incorporated orzaru1W.
TheTru5tees who served durirq the peri(Kl aNI vpb)the date of sigrwtureof thefinancial staterTrEnts We..
Werner Mart Frledrlch Von Guionneau
IAtwinted 28 Septernb 20201
Edward Douglas Glover
IA¢winted 28 September 20201
John George julian Gfumbar
IAFwnted 28 Seo•nber 20201
Christopher Wdul Gill
IAFwnted 28 SepteMr 20201
Membership of the CIO may be 8ranted to arwjne who Is intwested in furthÈrin8 its PUTk*)se5. and who, by applying for
membershlp. has indicèted hi5. her tts agreementto Ixcomeè memberarxt acceptsntÈ of iheduty of rnernbets.
Membershlp rnayortyhe yaftted wlthihe priorywritten (onserttof the Fnder Member.
A memier may be an irKl[lIUè1. a crKwrate oran whth r¥)t 1rry1raIed.
The Trustees. rek¥)rt wasappro¥ed bythe Board of Tru51eeS.
Edward Dou8las Glo¥er
Tru5teÈ
## **THE INFRARED CHARITABLE FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE INFRARED CHARITABLE FOUNDATION**
I report to the Trustees on my examination of the financial statements of The Infrared Charitable Foundation (the charity) for the period ended 31 December 2021.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement 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 connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## Andrew Rich
Andrew Rich
## **C/o HW Fisher LLP**
Chartered Accountants Acre House 11-15 William Road London NW1 3ER
## 11 Oct 2022
Dated: .........................
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## **THE INFRARED CHARITABLE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2021**_
|||**Unrestricted**|
|---|---|---|
|||**funds**|
|||**2021**|
||**Notes**|**£**|
|**Income from:**|||
|Donations and legacies|**3**|1,000,000|
|**Expenditure on:**|||
|Charitable activities|**4**|104,515|
|**Net income for the period/**|||
|**Net movement in funds**||895,485|
|Fund balances at 28 September 2020||-|
|**Fund balances at 31 December 2021**||895,485|
|The statement of financial activities includes all gains and losses recognised in the period.|||
All income and expenditure derive from continuing activities.
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THE INFRARED CHARrrABLE FOUNDATION
BALANCE SHEEr
AS AT31 DECEMBER 2021
1021
Current assets
Cash at bank aNI in hand
923.685
Credlior5.' aMDUhtsfrIngJeWlthI (YaT
128.20DI
Net current assets
895,485
Income fuhds
Unre5trictd funds
895.485
895,485
The finallcial statementswere approb*d bytheTrusteeson.........................
Edward Dougla5 Glo¥
## **THE INFRARED CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
The Infrared Charitable Foundation is a Charitable Incorporated Organisation. The Registered address is Level 7, One Bartholomew Close, Barts Square, London, EC1A 7BL. .
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document dated 28 September 2020 , the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention . The principal accounting policies adopted are set out below.
These financial statements for the period ended 31 December 2021 are the first financial statements of The Infrared Charitable Foundation prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **1.2 Going concern**
The trustees do not consider that the prolonged Covid-19 outbreak will have a significant impact on the charity's activities and, given the nature of the charity’s assets and activities, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
## **1.5 Expenditure**
Resources expended are recognised in the period to which they relate.
All costs which can be directly attributed to charitable activities are allocated to the relevant activity. 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 settlement will be required and the amount of the obligation can be measured reliably.
Costs of charitable activities include grants made, governance costs and support costs.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
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## **THE INFRARED CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand and deposits held at call with bank.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|
|---|---|
||**funds**|
||**2021**|
||**£**|
|Donations and gifts|1,000,000|
|**Charitable activities**||
||**2021**|
||**£**|
|Grant funding of activities (see note 5)|60,000|
|Governance costs (see note 6)|44,515|
||104,515|
## **4 Charitable activities**
|**5**
**Grants payable**
Grants to institutions:
The Switchbck Initiative
Working chance Ltd|**2021**
**£**
30,000
30,000|
|---|---|
||60,000|
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## **THE INFRARED CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2021**_
|44,515
Analysed between
Charitable activities
44,515
Accountancy fees
Professional fees
4,800
39,715
**Governance**
**costs**
**£**
**Support costs**
**6**|44,515
Analysed between
Charitable activities
44,515
Accountancy fees
Professional fees
4,800
39,715
**Governance**
**costs**
**£**
**Support costs**
**6**|44,515
4,800
39,715
**£**
**2021**|
|---|---|---|
||44,515|44,515|
Governance costs includes payments to the independent examiner of £4,800 for accounts preparation and independent examination.
## **7 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
## **8 Employees**
There were no employees during the current period.
## **9 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**||
|---|---|
||**2021**|
||**£**|
|Accruals|28,200|
## **10 Related party transactions**
The underlying donors of the £1,000,000 donation to fund the charity were InfraRed Capital Partners Limited and Charles II Realisation LLP in which the charity trustees Werner Marc Friedrich Von Guionneau and Christopher Paul Gill were interested as director and partner of the donor entities.
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