**REGISTERED CHARITY NUMBER: 01191507** ## **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** ## **FOR** ## **THE INFRARED CHARITABLE FOUNDATION** MGR Weston Kay LLP Chartered Accountants 55 Loudoun Road St John's Wood London NW8 0DL **THE INFRARED CHARITABLE FOUNDATION** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Report of the Trustees**|2 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 12| **THE INFRARED CHARITABLE FOUNDATION** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024** |**TRUSTEES**|E T Hunt (appointed 13.2.2025)| |---|---| ||W M F Von Guionneau| ||E D Glover| ||J G J Grumbar| ||C P Gill (resigned 1.1.2025)| ||G A F Paris (appointed 4.2.2025)| |**PRINCIPAL ADDRESS**|Level 7| ||One Bartholomew Close| ||Barts Square| ||London| ||EC1A 7BL| |**REGISTERED CHARITY NUMBER**|01191507| |**INDEPENDENT EXAMINER**|MGR Weston Kay LLP| ||Chartered Accountants| ||55 Loudoun Road| ||St John's Wood| ||London| ||NW8 0DL| Page 1 **THE INFRARED CHARITABLE FOUNDATION** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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** ## **Objectives and aims** 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 or 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). ## **Public benefit** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## **Significant activities and achievements against objectives** The charity's focus during 2024 was on proving the concept of the employment of Community Engagement Leads (CELs) in secondary schools in areas of high deprivation or specific social issues which it had developed in 2023. In addition to monitoring the progress of the CEL at Frederick Bremer School, an 11-16 community school with 900 pupils in Walthamstow, North East London whose employment had been enabled by a grant approved in 2023, a second grant was awarded to the Oasis Academy Shirley Park, Croydon to employ a CEL to cover their secondary and sixth form phases. Each school receiving a grant will face distinctive issues and it is therefore an important feature of the grant that the school has full managerial control over its CEL, although it is required to provide regular reports to the charity to demonstrate the impact of its CEL. These reports clearly demonstrate that both CELs are making material positive impacts on the lives of their schools' pupils reflected in higher levels of attendance and improvements in academic results, personal relationships and general behaviour. These results are obtained from a variety of strategies ranging from taking responsibility for and working together in a communal school garden, through additional sports and social programmes to the arranging of one to one mentoring. None of these strategies would be capable of implementation without the resource provided by the CEL, facilitated by the charity's grants. ## **Future outlook** Given the demonstrable benefits from the employment of CELs, the charity has entered into discussions with Oasis Community Learning to extend the programme to other of its schools. The charity is also reviewing potential fundraising opportunities to increase its grant making capacity Page 2 THE INFRARED CHARrrA8LE FOUNDATKIN REPORTOFTHE TRUSTEES FOR THE YEAR ENDED 310ECEMBER 2024 FINANCIAL REVIEW Reser¥es poltcy During the period the charity's total income is £83,717 12023= £71.5331 and totsl expendrture is £101.032 12023: £38.1541 The charTtIs current activtty 15 solety the making of grants. tt has no employees and minimal expenses beyond governan￿ costs. In the circumstances, a￿hough rt monitors its assets regularfy to ensure that they are sufficient to meet its committed obligation5 It does not considerthat a fomial reserve5 policy is currently nece55ary. As detailed in the Statement of Financial Acti¥itres, the Chartty's reseryes at the year end amounted to £761,804 12023: £779,119) of unrestricted ￿nds. These funds are accountsble to fijrther the objective5 of the Foundation and to meet Eovernance and operating costs. Funds not required for short term liquidty are placed on deposit in accordance with the Charitys operational and credtt risk and maturity polw for deposits. The Trustees have assessed the major rlsks to whith the charity [5 exposed, and are satisfied that systems are in place to mitigate exposure to the rnajor risks. srRucnJRE. GOVERNANCE AND MANAGEMEKr Governin8 document The charity is a charr(able Incorporated organisation. The trustee5 who served during the year and up to the date of &￿￿re of the financial statements were: W M F Von Guionneau E D Glover J G J Grumbar C P Gill Iresigned l.1.20251 G A F Paris lappointed 4.2.20251 E T Hunt lappointed 13.02.20251 Membershlp of the CIO Membership of the CIO mèy be granted to anyorhe who is interested in furthertng its purposes. and who, by applying for membership, has indicated his, her or its agreement to become a Member and ac￿ptance of the duty of members. Membership may only be 8ranted with the priorwrTtten consent of the Founder Member. A member may be an Individual, a corporate trM)dyor an organisation whKh is not incorporated. RecnJltmÈnt and appointment of trustees Trustees may be appointed either by the memberof the CIO or by the charttytru5tees. New trustees will be appointed based on their alignment wtth the objectives of the charity and the relevant skills they bring to r(. New tru5tee5 receive a copy of the constitution of the charty and its latest tru5tee5' annual report and statement of account together with a full briefing of the tharity's activities from the exisbn8 trustees. Approved by order of the board of trustees on I September 2025 and signed w its behalf by: E D Glover- Trustee Pa8e 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INFRARED CHARITABLE FOUNDATION Independènt examiner's report to the trustees of The InfraRed Charitable Foundation I report to the charity trustees on my examination of the accounts of The InfraRed Charitable Foundation Ithe Trustl for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 20111'the Act'l. I report In respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Sèrtion 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material rnatters have come to rny attention in connection with the examination giving me cause to believe that in any mètèrial respect.. accounting records were not kept in respect of ihe Trust as required by Section 130 of the Act. or the accounts do not accord wlth those records,. or the accounts do not comply with the applicable requirements concefning the form and content of accounts set out in the Charities (Account5 and Reports) Re8ulalions 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 ¢tsme across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kl,jJOI, Nlgel Walfisz FCA MGR Weston Kay LLP Chaitered Atcountants 55 Loudoun Road St John's Wood London NW8 ODL 22 September 2025 Page 4 **THE INFRARED CHARITABLE FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** |||**31.12.24**|**31.12.23**| |---|---|---|---| |||**Unrestricted**|**Total**| |||**fund**|**funds**| ||**Notes**|**£**|**£**| |**INCOME AND ENDOWMENTS FROM**|||| |**Charitable activities**|5||| |Charitable income||50,600|43,500| |Investment income|4|33,117|28,033| |**Total**||83,717|71,533| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Governance costs||14,565|24,654| |Grants to institutions||85,430|13,500| |Other||1,037|-| |**Total**||101,032|38,154| |**NET INCOME/(EXPENDITURE)**||(17,315)|33,379| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||779,119|745,740| |**TOTAL FUNDS CARRIED FORWARD**||761,804|779,119| The notes form part of these financial statements Page 5 THE INFRARED CHARifABLE FOVNDATKJN BALANCE SHE 31 DECEMBER 2024 31.12.24 Unrestrfrted fvnd 31.12.23 Total funds CURREMf ASSErs Debtors Cash at bank io 14.967 764,316 140 783,779 779.283 783.919 CREDITORS Amounts falling due wrthin one year li 117.479} 14.8rxil NET CURRENT ASSFT5 761,804 779,119 TOTAL ASSETS LESS CURREfu LIABILMES 761. 779.119 761.804 779.119 FUNDS Unrestricted ftjnds 12 761,8(￿1 779,119 TOTAL FUNDS 761.804 779,119 The financial statements were approved by the Board of Trustees and authorise(I for issue on I September 2025 and were signed on its behalf by- E D Glover- Trustee The note5 forni part ofthese finanual ststements Page 6 **THE INFRARED CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. 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. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **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. ## **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 accounting fees and costs linked to the strategic management of the charity. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. continued... Page 7 **THE INFRARED CHARITABLE FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. ACCOUNTING POLICIES - continued** ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand and deposits held at call with bank. ## **Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## **Basic financial liabilities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** 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. continued... Page 8 **THE INFRARED CHARITABLE FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** |**4.**|**INVESTMENT INCOME**||| |---|---|---|---| |||**31.12.24**|**31.12.23**| |||**£**|**£**| ||Interest income|33,117|28,033| |**5.**|**INCOME FROM CHARITABLE ACTIVITIES**||| |||**31.12.24**|**31.12.23**| |||**Charitable**|**Total**| |||**income**|**activities**| |||**£**|**£**| ||Fundraising - Bike Ride|4,700|-| ||Fundraising - Dodgeball|45,900|43,500| |||50,600|43,500| |**6.**|**GRANTS PAYABLE**||| |||**31.12.24**|**31.12.23**| |||**£**|**£**| ||Grants to institutions|85,430|13,500| ||The total grants paid to institutions during the year was as follows:||| |||**31.12.24**|**31.12.23**| |||**£**|**£**| ||Frederick Bremer School|59,180|13,500| ||Oasis Community Learning|26,250|-| |||85,430|13,500| |**7.**|**SUPPORT COSTS**||| ||||**Finance**| ||||**£**| ||Other resources expended||1,037| ||Governance costs||14,565| ||||15,602| continued... Page 9 **THE INFRARED CHARITABLE FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **7. SUPPORT COSTS - continued** Governance costs include payments to MGR Weston Kay LLP, the independent examiner of £9,765 (2023: £9,200) for accountancy services and £4,800 (2023: £4,800) for the independent examiner's report. Support costs, included in the above, are as follows: ## **Finance** |**Finance**|||||| |---|---|---|---|---|---| |||||**31.12.24**|**31.12.23**| ||**Other**||||| ||**resources**|**Governance**||**Total**|**Total**| ||**expended**|**costs**||**activities**|**activities**| ||**£**|**£**||**£**|**£**| |Insurance|630||-|630|588| |Just Giving Fees|303||-|303|-| |Bank charges|86||-|86|-| |Legal and professional|-||-|-|10,066| |Accountancy|-|14,565||14,565|14,000| |Subscriptions|18||-|18|-| ||1,037|14,565||15,602|24,654| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **9. EMPLOYEES** There were no employees during the current and preceding period. ## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| ||**31.12.24**|**31.12.23**| ||**£**|**£**| |Prepayments and accrued income|151|140| |Interest receivable|14,816|-| ||14,967|140| continued... Page 10 **THE INFRARED CHARITABLE FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other creditors
**12.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**31.12.24**
**31.12.23**
**£**
**£**
17,479
4,800
**Net**
**movement**
**At**
**At 1.1.24**
**in funds**
**31.12.24**
**£**
**£**
**£**
779,119
(17,315)
761,804
779,119
(17,315)
761,804
**Incoming**
**Resources**
**Movement**
**resources**
**expended**
**in funds**
**£**
**£**
**£**
83,717
(101,032)
(17,315)
83,717
(101,032)
(17,315)
**Net**
**movement**
**At**
**At 1.1.23**
**in funds**
**31.12.23**
**£**
**£**
**£**
745,740
33,379
779,119
745,740
33,379
779,119| |---|---| continued... Page 11 **THE INFRARED CHARITABLE FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|71,533|(38,154)|33,379| |**TOTAL FUNDS**|71,533|(38,154)|33,379| ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2024. Page 12