Charlty Reglstration No. 01191507 The InfraRed Charitable Foundation Annual report and unaudited financial statements For the year ended 31 December 2023 mgr 55 Loudoun Road st John's Wood London NW8 ODL THE INFRARED CHARITABLE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION W M F Von GulOnrt￿U E D Glover J G J Grumbaf CPGIII E Mendes Charltynurnbar 01191507 Level 7 On• Barththmewclosè Barts S4￿1* l￿dOn ECIA 78L lthp•Nl•rt•Mmln•r MGR W•ston tsy LLP 55 Loudoun *John's Vlood Lofftdon NV180t THE INFRARED CHARrrABLE FOUNDATION CONTEp¥rs Ind•pth)knt È¥arnlnees rewt 5tst•m•rf of fin4￿1•1 •ctMtI4s •l•nc• tholt Not•5 to th• ftMncS•l tht•ffwrtts 6.10 THE INFRARED CHARrrABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees prns4nt thllrannual report and flnanclal st•tements forthe year•Thded 31 December 2023. Thè fin¥n¢*l ststements have been preparnd In attordance wlth th• accountln8 pollcE*s set out In not• I to th• nnanclal statemants and comply wlth thè charlty's Artkles Ot Assoclatlon, the Charltles Act 2011 and "Accountlng and Reportlno Charltlès: Ststement of Recommend8d Pracifjc• appllcabla to charftles preparlnK thelf accounts In •ccordants wlth the Flnincthl Reportlng St•nthrd applkable In the UK and Republltof IreL4nd (FAS 1021. leffectl¥e l JIn￿ry 20191. ObJettl¥tt and actl¥lUo1 The objects of the 00 are io ad¥antO such charltable purposes la¢Cwd1￿ to the law of En8land and Wil•s1 0> thorlty trustaes se•fltfrom tlmetotEme and In panlcular lyjt not Ilmlted to,. promotlni Soclal Incluslon forthe publlc benefit by pre¥entln8 from becomln8 Soclalty Extlud•d, rolltvknithe needs of th¢)s• people who are Soclally Excluded and a5515tlni tham to Ints8rate Into soclety: and rellwlng sl¢kness and the prvArntlon of health by maklni Brnnts io fund m•dlcal equIpMe￿ hcllltlas or s•pkn$ forpubllc ban•fft. Nothln8 In the constfjtutlon shall •uthorlw •n ipplluuon of th proP¢rty of the CIO for the purpos•s whkh ar• not ch•riiabl• In •ccordince ￿¢tION 207 of the Ch•rftt•sAct 2011. Forthe purpom of thts d•use"SocIal￿ Excluded" maarb5 ￿{￿$ exclud¢d from ¥oclety. or parts of s￿0•ty, as a rèsult of on• or more of the lollowlnl fartOW5.' unemployrTran¢' hnanclol hard5hlp; youth or old 111 health Iphyslc•l or merbtsll; >ubrtJn •buse or dependency Includln8 alcohol •nd dru85; dlscrlmlnatlon on the grounds of Se￿ rnc•, dlublllty, ethnlc orl8lr*, fell81on, bellef. creed, sexual orfentatlon or gender re-455lgnment; poor ¢dwtlon•l or 5k1115 •ttalnrnenL' r¢l8ttonshlp ind hmlly br•akdown' poor houslng (that Is houslni that does not meet b•sk h¥bltsble stsndard$,' crfme Idihgr is a vlcllm of ¢rtm• ty In offender rehiblllt4llno Into S￿?. Pubkbenefit The trustees have pald du• rnyrd to guld•rt¢• l$s￿d by the Ch•rfryCommlMlon In d•cldlngwh•t •¢lI￿tIeS ihe th•rlty $hwld d•rt•k•. Athl•¥ements and p•rfrnn¢• gnlftont octlvldesondqthlevements aoolnst obJertl¥ Durln8 th• p•rfod co¥•red by the èttounts, the Chawlty d¢¥•10￿d th• corKept of fund[￿ th• •rnpl¢)ym•nt of Communlty Enplemeni Leads ICELSI In secondary xhools In •r•as ol hlgh deprfvatlon or speclftc so¢￿1 Issues. The oblertlve ol the CEL Wtsltld bg to ploy an Important Yol8 In tackllnt Intquallty and supwtlft8 soclal moblltty by supportlnl t•achln8 sthff h) a vartety of arnas for whkh they had Ilmtttd tlme and resource: these a￿05 ml8ht Include the prnlslon of adequate food ind mèntal health seThlce5 to èddrnss behavlournl 1$5ue5, arrnnilnB 8￿r4£he4)I and 0￿*￿1•mi pro8Ammes io pn>vlde stlrnul•tlw ¥ctfvitles wh•n otheThvbse the young people had little to cKcupy them, Jnd empl(ryrnent and apprenttceshlp opportunftles to I￿5¢ f￿￿Te c)￿er de¥elopm•rt. In addltlon to dw4t￿PIng th• Idea, durfno 2023 the Charlty •lso approved 115 first arnrbt for the employment of a CEL at Frededck 8r•mer Sch¢)ol. an 11-16 cornmunlty School wlth 9CQ puplls In W?Ithamstcw, North E•st London. The grért to¥￿5 employment tosts tooothèr wlth an allowaftcè for programmlng •ss•ntlaltyforthe 202314ac4demlc ye•rllncludln8 holldaysl ¥nd theflrnt pJyment ts rncorded ITh note 6. The Snltlal lrnpart of the CEL hos been very encourn8lni wlth measurable posltfv• benefits In all the arnas of wentlal actlvlty whlch been Identmed. As è resuh ofthl% • setond Bftnt to • dlfferent schthjl was appmved after the ond of fftnanclal vear. Ftnanclal n¥l•w Ourlng the perbd ¢harty$ toi•l IrKome Is £n,53312022: £4,812) and total eq￿dknre ts £38.15412022: E154,5571. Ileservespdlcy The ¢horWs current actlvity Is scAely the maklng of It ha5 no employe•s •nd mlnlmjl ￿penSes. In the drcum5tance5. althwh It monltots its assets regularty to ensure t￿t they are sufficlert to meet Its comftknd 0bl18atto￿ It does ntst Con$1derth￿ a fomial reserves pollcy l$current￿ ￿￿5•ry. Doa*gn En%*tope ID.. 7E2FceAM38M07C44C7.1M4177CF THE INFRARED CHARITABLE FOUNDATION TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees have a55e55ed the major r15*s to which the charfty Is exposrf and are satlsfted that tystems are In place to mltlgate exposure tothe malN rlsks. Strutiure• 8ovem¥nce ond mana8em•nt The charty is a charitab￿ IncorpoTrted or8anlsatlon. The trvstees who s•rv•d durlng theyearand up to th• dats ofslin•twe ofihe flnarthl statsments**r•: WM F Von Gulonneau EDGlmr J G J Grumbar CPGIII Rettultmentondt7ppolntmentof twstees Mernbershlp of th• CIO may be grnnted to *n￿￿* vkno Is Snitre#•d In furth•rtn8 Its purpo5•5. •nd who, ty appfyln8 for membershlp, has Indltated h1>, heror Its to hcome i memborand itteptance ofthe dutyof members. M•mbw5hlp m•yonly b• 4rnThtad wlth th¢ prlor wrltten cvns•ntofthe Founder M•mb•r, A mèmber mly b•¥n lThdlvldwl. • corpornt• bodyor in oryanlmtton whlch Is fftot In¢orp)rnted. The tTUJtoes' rnF4Jrt VAS ipprowd bythe Board olTrusts•& E D GlcN•r 6A￿Ul1 2024 THE INFRARED CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INFRARED CHARrrABLE FOUNDATION I report to the trustees on nry eyamlnatk)n of the fftnaftclal statements of The IrrfTrRed tharftèb￿ Foundatknn (th• charltyl for thÈ year ended 31 Dècember 2023. ResponslbllStle5 ¥nd ba515 of report A5 the trustees ol the thjrlty you a￿ respO￿lbre for the prepkratk>n of the financlal statements In xcorthnce wSth the r•qulrementsof the Charftles Act 20111th• 2011 Act). I report kn ￿SpeCt of my ex•mlnatlon of the ch•rWs nTrinclJl Jtstements c4rrfed out under settkx 145 01 the 2011 ACL In rryln8 out my axamlnaiiJn I ha¥e followRd Jll the 4pplk•bl& Dlractlons ifv•n ty the Charlty Commlsg1oTh under sett￿￿ 1451Sllbl of the 2011 Act, Ind•pendert wmSner'ist•tement I have ¢ompl¢t4d my o¥amlnatlon. I confirm th•t no matters com• to my ¥tt•nthn In conn•ctlon wlth th• •yJmln•tloTh 8fvln6 me ¢•use to belle¥e th•t In any materlal respect.. •c(ountlng record5 were Thjt kept Ir* resport of th• charftyas requlred by seclbn 130of th• 2011 *' or the ftnbntlal statémèrtts dts I￿t i¢¢ord wlth those retords: or flnanclal sthtements do not ttMnpty wlth thè applluble ￿q￿reM*nts cofftc•mln8 the forn) Jr*d content of Kcounts t out In the Charltles IAccourts and R•portsl Re6ulatlon5 2¢X18 other than any r•qulr8n*nt that th• Kcounts Ov• tru& and lalrvl•w whlch bs not 4 matter W[￿ldern￿ IS Part of •n Indeynd•nt &y•mlnatlon, I have no co¢)cems and hav• com• across no othér mattth? In connectlon wlth the examlnotton to whlch att•ntlon shouhl b• drawn In thls rnport In ordertoonabl¢ i proper undetstafftthfft8 of the financlal sthtements to be rnlched. sz FCA MGR W•st•n Kay LUI S5 ioudoun Road Stjohn's Wood London NW8 ODL Dated.. 26 September2024 THE INFRARED CHARITABLE FOUNDATION srATEMENT OF FINANaALACflVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unre51rtcted fimds Unrestrlrted fvftds Charltable aCt￿ltIeS Iiivestments 28.033 4,812 Totsl Incom• 71,S33 4112 tharitsble art￿￿e5 38,154 154.557 Not Entomollttpendl￿re1and rnovemert Infvnds 33,379 1149.7451 R•condllatlon otfund&' Fund balancu at l January 2023 745,740 895.485 Fund batanw at 31 December2023 779.119 745.740 The statement of finantlal arttvft*5 Includes all 8aln5 and 1055es rewgnlsed In the year. AJI irKome and expendfturè derwè from condnulwactlvltle5. Dou*n ED¥dry1Tr. 7E2FC6A￿3B￿Q7c￿4C7.16s6Al77CFB0 THE INFRARED CHARrrABLE FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2022 Current a55ets Debtors Cash at bankand In hand 140 783,779 135 748,105 783,919 4,800 748,240 credit￿*. amourts falllngdueT•Athln on•y•ar Net current assets 779,119 74S.740 Thelunds ofthe thorfty Unrestrlcled funds 779,119 745,740 779,119 745,740 The flnandal statsments were approved bythe trusteeson 6Au8USt 2024 E O Glover Trystee THE INFRARED CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Acc￿n￿￿￿oI1¢1#S Ch*rltyltfftirni*lon The Infw3Red Charltable Foundatlon Is a Charitsble Incorpornted Oryanlsatton. The Reqlstered iddTess Is Level 7. 0 Bartholamew Close. Barts Squa¥e, London, ECIA 78L 1.1 AC¢ount1￿ (onventlon The fflnanclil statem•nts haw b••n pr*￿rnd In •ccord•nce wthh the ch•rfVs ￿rnth1 drturn•nt d¥ied 28 Sept*mb•r 2020, thè c￿rItIeS Art 2011, FRS 102"The Flnanclal Reportlng Standard appllcable ln the UK Jnd Republk of Ireland. I"FRS 102-1 and the Chadtles SORP 'Accountln8 and Re￿rtIn1 by Charltle5: Slatem•nt of Recommended Pr•cifjce appltcable to charllles pfeparln8 thalr accounts In accordance wlth the FlnarKlJl Reportlng Stsndard appllcible ITh th• UK •nd Repubjkdl￿I¥nd IFAS 1021" leffert￿ I 20191.Th• ¢h•rlty 1$ i Publk 8•nefflt Entlty •s defined by FAS 102. The charlty his advanta8• Oft￿ provlslons In th• SORP fOrch•r￿1￿ noi to Pr•￿￿ • Ststernent of C•sh Flows. Th• fimrtclal st•t•m•nts ir• prnpared In Stern￿ which Is the functton•l ¢w￿￿¢V of t￿ ch•rlty. Monethry lmounts In th¢st flnantlal stat•m¢nts •re roun41ed to t￿ ne•r4st £. The ffln•ncl•l st•temeNts hm btefi prepjred under th• hlsrorl¢•l cort On￿ntIOn. The prtnclpal •ccountln8 pollcS0s •dopt•d •r• setout below. 1.2 Golni tonc•m At the tlme of •ppro¥lni the fimnclal s￿orna￿ts, the trustees h•ve • re¥son4bl¢ typértatlon tht charlty has ad•q￿t+ r4S0Urt•S tt> ¢￿tIn￿ In op•rntlonal •xlstence forthe fof•s••ibl• fvrule. Thus th trustKs contlnue to idopt the 6oln8 concern basls of Kcountln8 In pr•parlnithe flnanc￿l stJtemeThts. LJ Charltsbklundi Unr•strltted funds ar• wiM•bl•for at th• dlKrntlon ofth• truttees kn fvrtherJftce of theSrch•dtsbhobJ•ttiv•k LI I￿g￿e IncorTW Is reco8nbJed w￿rn th? ¢h•rKy Is Iwlly entrtl¥d to li after perfDm)anc• condltlaTrs ho￿ been mel the Imounts can be measured rnllably. •nd ￿ Is wobable th•t In¢orne wlll b• rec•W. Other donatlons are rncrynlmd orK• th• th•rlty h•5 been notlfled of the donatk>￿ unliss perfomMnc• condltlons rnqulrn def•rrnlofth• amount. 1.5 Exp•ndltur• Resourcu expended Ire re￿nIsed In perfodtowhlth they relate. AII costs whlch tan be dlrettly attrfbuted to charitsble a￿￿111•$ arn alloc•tgd th tPe relevant actfvbty. Uabllltl•s ir• MCO8n15ed as expendlture as soon as thèrè Is a le8al or constru¢tfv• obll8ation ¢ommlttln8 the tharlty to that expendlture. ￿ Is probable that settlementwtll be requlred •ndthe amount of the obll8atlon can be measured relIab￿. Costs ofcharltable actW85 Includfrqrnt￿ made. 6o¥orn•n￿c￿$ts and support C05t% Gov•mance costs SrKlude those costs 3550clated wlth meetlng tho constftutional and ststutory requlrements of t chadtyand Include the accounllngfee5 ondcosts linked tothe 5tr3teglc management of the charlty. L6 Cash and rath equlvolents Cash ¥nd cash equfvalonts IncI￿lÈ ¢a5h In handand dwlts held atcall wlth ban THE INFRARED CHARITABLE FOUNDATION NOTES TO THE FINANaAL sfATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 A¢coyntSn¥ polkle5 Icontlnuedl L7 Amndal Instmments The charlry has eletted to app￿ the provislons of Sectlon 11 '8ask Flnanclol Instrumenw and Seclton 12 '01her Flnandal Irbstruments Issueg of FPS 102 to all of its financlal instrufftnts. Flnanclal InAruments are ￿cOgnISed In the cha￿￿5 balan￿ sheet when the charlty becomes party to the contyactual provlsbns gf the Instrument Flnanclal assets and IlabNlti•s are offset. wSth the amounts presented In the flnanclal ststement8 whtn thwè Is a legalfy enIor￿able to Set off the recoonlsed amounts artd there b an SrrtÈnti￿ to settle on a net ba4sorto reallse t￿a$let and settle the Ilablitysimultaneously. Bask ffinanclal assets, ¥thlch Include debtors and cash and bank balance5. are lnll1al￿ rneasu￿d at tnnsactton prlce Including tAnsaciion costs and are 5ubseq￿nt1Y carrfed at ?mok1tsed cost uslng the effert￿e Interest method uTrless an3n8ement mn5tltute5 a financlng tran5actlon. wtherp the trdnsactlon Is MeaSu￿d at the p￿sent value of the future recelpts d15COUnted at a market rate of Interest. Finantial a55ets claMffied as re￿￿èble wlthln one year are not 8aslc flnanclal 113bllllles, Inclthlln8 c￿￿¢0￿ and bank loans are 5ThltFally rects8n1s￿ at transaclfjon prfce urbless the amnoement constrtutes a ftnancln8 trdnsactlon, where the debt Instrument 15 measured at the present value of the future payments dlstounted at a markèt rdte of lfiterest. Flnanclal Ilabllltle$tlasslfled as payable wlthln one yearare not Debt instrUm￿ts are subse4uenttycarrled at amortlsed cox ustrrfthe effectl4e Interest rdte m*hod. Trade ¢redltors are obllgatk>ns to pay for8ood5 Or$eNt￿thatha¥e been acqulred In the ordlnary cOu￿e0f operatlw5 from suppllers. Amouats paydble are classlfted as current Ilabllltles ff paymen¢ Is duewiihln one year (K less. If no¢ they are presented as non5 11 CMdltor%: amounts￿lI1n8 du•wlthkn Oll•￿•r ACCI￿1> ind d￿rIed Incom• IZ Unrwtrlctqdlundi Th• unrostrtcted fundsof the ch•rltycompdse th& unexpended b•l•nces of donltlons andgrnnts whkh •re not subl•ct io sptclflc cofidltlonj ty domrsind srnfitors asto how they m•¥ b• ￿￿d. Yh•s• Include de>lgnated fundswhlch hav• b••n MtJslda outofunv•Adct•d fvnds ty thtrustttg lor $p•dfic purposes. At l tsnu•ry 2023 Incoml fesour At 31 Dttember 20 •x￿rt•d 6ener•l fwds 745,740 71,S33 138,1541 779,119 At ljanuary In￿mInI r•wurces ResourcuAt31 DK•mb•r •ypended 2022 GeneNI funds 895,485 4,812 1154,557) 745,740 Relatod partytr4nsartlo There We￿ no dlxl¢Mable relwtsd pprty tTrrw¢tlonJdurfngthe curr•nt and precedln8 y••r. 10-