The Roly and June Tonge Foundation Annual Report and Financial Statements Year Ended 17 July 2023 Charity registration number: 1196212
The Roly and June Tonge Foundation Annual Report and Financial Staternènts Year Ended 17 July 2023 Contents Page Charity Reference and Administrative Details Trustees, AnnLJal Report Independent Auditor's Report Statement of Financial Activities Including Income and Expenditure Account Balance Sheet Statement of Cash Flows Notes to the Financial Statements 10 12-16
The Roly and June Tonge Foundation Charity Reference and Administrative Details Year Ended 17 July 2023 Chartty registration number 1196212 Trustees Mr DJ White MrWG Johnson Reglstered offlce clo Pickering & Butters LLP 19 Greengale Street Stsfford ST16 2LU Auditor Deans Chartered aG¢ountants Statutory auditor Gibson House Hurricane Court Hurricane Close Stsfford ST16 1GZ
The Roly and June Tonge Foundation Trustees. Annual Report Year Ended 17 July 2023 The Trustees present their report and tre audited financial statements of the chaTily for the year ended 17 July 2023. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities. in preparing the annual report and financial statement5 of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing docurnent, the Charities Act 2011 and Accounting and Reporting by Charities.. Stalernent of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Registered charity f)umber- 1196212 Registered office o Pickering & Butters LLP 19 Greengate Street Slafford ST16 2LU Trustees of the charity The truslees who have served during the year and since the year end were as follows.. Mr DJ White Mr W G Johnson Objectives and activltles Charity for support of other charitable and voluntary bodies. The trust has inherited money, that is now being held in account waiting to be distributed as 'GTants' to various Charitable Bodies. Fund-raising Standards Infomiation The charity does not carry out any significant fundraising activities. Publlc benefit statement The Trustees have had regard lo the guidance issued by the Charity Commission on public benefit. strate icRe ort Achievements and performance The Trustees consider that in establishing the charitable trust during the year, they are meeting the objectives and activits'es referred lo above. As the charity does not caTry out fundraising activities there are no significant risks to the charity's funds. The only potential risk is the failure of the bank where the tru51 funds are presently held. Steps have been taken lo miligale this risk by investing trust funds across a number of financial institutions. Financial review Ilncluding reserves policy) The charity now has cash reserves in excess of £2,500,000 which are believed lo be svfficienl funding lo support its objectives for the foreseeable lulure. Plans for future perlods The Trustees are actively inviting applications for funding in accordance with the Foundation's governing document, being the Will of Mrs J A Tonge, and will consider any such applications that are submitted.
The Roly and June Tonge Foundation Trustees, Annual Report Year Ended 17 July 2023 Structure. governan¢e and management There are, presently, two trustees. Donald John James White, a consultsnl solicitor, and William George Johnson, a partner solicitor, in the firm of Pickering & Butters, Solicitors. The Trustees are considering whether additional trustees should be appoinled lo the Foundation and will continue to actively consider this as the year progresses. The Trustees will meet fom1811y on a quartetly basis. Any ad hoc discussions in the intervening periods are formally recorded for reference. Trustees. responsibilities The trustees are responsible for prepartllg the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Ger)erally Accepted Accounting practi). The law applicable to charities in England & WaleslNorthern Iland requires the trustees to prepare financial ststemenls for each financial year whh give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are reqLtired to.. select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP 2019 IFRS 1021- make judgements and estimates that are reasonable and prudent", stale whether applicable accounting standards have been followed., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial position of the Gharily and enable them to ensure that the financial stslemenls comply with the Charities Act 2011, the chall15 (Accounts and Reports) Regulations 2008 and the provisiorbs 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 detection ol fraud and other Irregularities. In so far as the trustees are aware.. There is no relevant audit information of which the charities auditors are unaware., and the trustees have taken 811 steps that they ought lo have taken to make themselves aware of any relevant audit infomation and to establish that the auditors are aware that information. Statement of compliance The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as il applies from 1 January 2019. Audltors The auditors, Deans, will be proposed for re-appointment al the forthcoming Annual General Meeting. Report of the Twstees approved by order of the board of trustees, on of the board by.. and signed on behalf W G Johnso , Trustee
The Roly and June Tonge Foundation Independent Audltor's Report to the Trustees of The Roly and June Tonge Foundation Year Ended 17 July 2023 Opinion We have audited the financial statements of The Roly 2nd June Tonge Foundation Ilhe 'charily'l for the year ended 17 July 2023 which comprise the Statement of Financial Aclivilies, BalanTr sheet and Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK 8nd Republic Of Iland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the firlancial statements.. give a true and fair view of the state of the charty's affairs as at 17 Juty 2023, and of its incoming resources and appIallOn ol resour, including its Income and expenditure. for the tEriod then ended.. have teen property prepared in accordan with United Kingdom Generalw Accepted AuntIng practi,. and have been prepared in aCCL)rdan wth the requirements of the Charib'es Act 2011. Basis for opinion We conducted our audit in accordanGe wilh International Standards on Auditing IUKI IISAS IUK}l and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in aecoidance with the ethical requirements that are relevant lo our audit of the financial slalements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other elhiGal responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for Ouf opinion. Conclusions relating to going Concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charills ability to continue as going concern for a period of at least twelve months from whell the financial statements a authorised for issue. Our responsibilities and the responsibilities of the trustees wth respect lo going concern are described in the relevant sections of this report. other information The other information comprises the inloTmalion included in the trustees. annual report2 other than the financial statements and our auditor's report thereon. The trustees are Fesponsible for the other inforrnalion Our opinion on the finarncial stslements does not cover the other information and we do not express any fomi of assufftnce conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial slatemerbls or our knowledge obtained in Ihe course of the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslalemenls. we are required lo determine whether this gives rise to a material misslalemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are fequired to report that fact. We have nothing to report in this regard. Matters on which we are requlred to report by exception We have nothing lo report in respect of the following matters in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion". the infom)atk)n given in the trustees, reprt is inconsistent in any material respect wth the finala1 statements., or sufficient acu)unting records have not been kep(. or the financial stalefflents are not in agreement with the awounting recL)rds', or we have not receThied all the infomiation and explanabons we require for our audrt.
The Roly and June Tonge Foundation Independent Auditor's Report to the Trustees of The Roly and June Tonge Foundation Year Ended 17 July 2023 Responsibilities of trustees As explained more fully in the Iruslees, sponsibl11tieS statement setout on page 5 the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial stslements that are free from material misstatement, whether due lo fraud or error. In preparing the financial stalemenls. the trustees are responsible forassessing the charity's ability to continue as a going concern. disclosing. as applicable, mallers related lo going concem and Ltsing the going concern basis of accounting unless the Iruslees either intend lo liquidate the charity or to cease operations, or have no fealislic alternative bul to do so. Audltor responslbilttles for the audit of the financial statements We have been apFlnIed as auditor under section 144 of the Charities Act 2011 and report in accordanGe with the Act and relevant gUlationS made or having effect thereunder. Our objectives are to obtain reasorsable assurance about whether the financial statements as a whore are free from material misstslement, whether due to fraud or error, and lo issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordan with ISAS {UK) will always detect a material misstalemenl when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the e¢onomie decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design proceduies in line with our re5ponsibililies. outlined above, lo dete¢l material misstatements in respect of irregularities, including fratjd. The extent to which our procedures are capable of detecting irregularities, including ffaud i¥ detsiled below.. Our approach lo identifying and assessing the risks of material mlsstalement in respect of irregu12ritie5, including fraud and non-compliance with laws and regulations. was a5 follows.. -the engagement partner ensured that the engagement team colleth'vely had the appropriate cornpeten, pabil((ies aTxJ skills lo idenbfy or reCogne Th)n-compliance with appluble laws and regulats"ons,' - we identified the laws and regulab.ons applicable to the charity through discussi¢Ms with trustee5, and from our mmercial krthvledge and expenence of the chanty's operating sector, - we fcuSed oll laws and regulations whh we considered may have a direct material effect on the financial statements or the operatrons of the charity, including the Charity's Act 2011, taxation Il$latIon. dats protecb"on, ants"_ bribery, empioyTnent, environmental and health and safety legislth'on,. we assessed the extent of cOmpln with the laws and re9ulalions identsfied atrM)ve through making enquiries of management and inspecting l¥1 (xxre5pOnden", and - identified law5 and regulab.ons were communicated thin the audtt team regularfy and the team rematned alert to instances of non<0mplian throughout the aLKIit. - considerrng the internal controls in pLace to mitigate risk of fraud and rKjnpln with and reguL4tsons. To address the risk of fraud through management bias and override of controls, we.. - performed analyh.cal prctedures to Klenbfy any unusual balans, variances or unexpected reLatnshipS,. - assessed whetheriudgements assumptions made in determining the accounting estimates were inolutive of potential bias., - investEated the rationale behind sKJnffi¢2nt or unusual transactions. and - spechfically tested the cmtrols around banking payments. In response to the nsk of irregularities and non-cc4np1lan laws 2nd gutionS, we despnl prcx*dures which included. but were not limited lo.. - agreeing financial statement disclosures to underfying suppottng doCumtK)n', - reading the minutes of meetings of those charged wlh govemance.. - ewuiring of management as to actual and potenb'al IitKJation c&ims', - reviewng rreSponden wth HMRC and other relevant regulators There are inherent limitations in our audrf( prceedures described atx)ve. The more Emoved that laws and regulats.ons are from financial transactions, the less likely il is thawe would become aware of non-complian. Audits"ng standards also limit the audit prc£edufes required lo identfy non-complian with laws and regulations lo enquiry of the dirKlors and other managementand the inspeth'on of regulatory and legal C(Snden, if any.
Thè Roly and June Tonge Foundation Independent Auditorfs Report to the Trustees of The Roly and June Tonge Foundation Year Ended 17 July 2023 MaterHI misstslements that arise due lo fraud can be harder lo detect than those that arise fr(xn error as they may involve deliberate conalMent or collusion. A fvrther descriptL)n of our responsibilities for the audit of the financial statements is located on the Financial RerK)rting Council's website al ¥.tr¢.0rg.UkJaudi10eSponSIbIIitses. This descriptn lomis part ofour Report of the Auditors. Use of our report This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity's trustees those mallers we are required to stste lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report. or Iof the opinions we have formed. J Hodgkiss statutory audrtor Deans Chartered accountants Stalulory auditor Gibson House Hurricane Court Hurrune Close Stafford ST16 1GZ Date.. .lY.J.......
The Roly and June Tonge Foundation Statement of Financlal AGtivities Including Income and Expenditure Account Year Ended 17 July 2023 Unrestricted Restricied funds nds 17 July 2023 Total 17 July 2022 Totsl Income and endowments from: Donations and legacies Investments 3,812,500 6.798 3,812,500 6,798 Total income and endowments 3,819,298 3,819,298 Expendlture on: Charitable activities 5,856 5,856 Total expenditure 5,856 5,856 Net incomg 3,813,442 3.813,442 Reconclliatlon of funds: Total fsjnds brought forward 11 Total funds carrled foThYard 3,813,442 3,813.442
The Roly and June Tonge Foundation Balance Sheat Year Ended 17 July 2023 17 JLTrIy 2023 17 July 2022 Current assets DebtOTS Cash at bank and in hand 1.319.298 2,500,DOO 3,819,298 Creditors: amounts falling due wlthin one year {5,8561 N8t Current assets 3,813,442 Total assets less current liabilities 3,813.442 Net Assets 3,813,442 Charity Funds Unrestricted funds 3,813,442 Totsl charity funds 3.813,442 The financial statements were approved and authorised for issue by the Board on Signed on behalf of the board of Iruslees by". W G Johnson Trust The notes on pages 10 lo page 16 form part of these financial statements. 10
The Roly and June Tonge Foundatlon Statement of Cash Flows Year Ended 17 July 2023 17 July 2023 17 July 2022 Nole Net Cash flow from operating a¢tivities f4 2.493.202 Cash flow from investing activitie¥ Interest received 6,798 Net cash flow frorn investlng actlvltles 6,798 Nèt increa$o in cash and cash equivalents 2.500,000 Cash and cash equivalents at start date 18 Juty 2022 Cash and cash equivalents at end date 17 July 2023 2,500,000 Cash and cash equivalents conslsts ofr. Cash at bank and in hand 2,500,000 Cash and cash ¢quivalents at end date 17 July 2023 2,500,000
The Roly and June Tonge Foundation Notes to the Financial Ststements Year Ended 17 July 2023 Summary of significant accounting policies {al General infomiation and basis of preparatlon The Roly and June Tonge Foundatlgn is a charitable Ifust in England I Wales. The address of the registered Offi is given in the charity information on page 3 of these financial slatements. The nature of the charity's operations and principal activities are to support local charitable activities. The ¢harily conslitules a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 Df Ireland issued in October 2019, the Financial Reporting Standard applicabk in the United Kingdom and Republic ol Ireland IFRS 1021, the Charities Act 2011. and UK Generally Accepted Accounting Practice. The financial statement5 are prepared on a going concern basis under the historical cost convenb'on, The financial statemerbls are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounts.ng policies applied in the preparation of these financial slaternerits are set out below. These policies have been consistently applied to all year5 presented unless otherwise stated. {b} Funds Unfestricled funds are available for use at the discretion of the trustees in furtherance of the general objecb'ves of the charity and which have not been designated for other purposes. lel Income recognltlon All incorning resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled lo the income after any performance conditions have been met. the amount can be measuied reliably and il 15 probable that the income will be received. For donations lo be recognssed the charity wi51 have been notified of the amounts and the settlement date In writing. If there are conditions attached lo the dOnatn and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are lully mel or the fulfr'lment of those conditions 15 within the control ol the charity and it is probable that they will be fulfilled. For legacies, enlillemenl is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income Is recognised On occasion legacies will be notified to the Charity however it is not possible to measure the amount expected lo be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Investment income is earned through holdirig assets for investment purposes such as shares and property. 11 IncldeS dividends, interest and rent. Where it is not practicable lo identify investment management costs incurred within a scheme with reasonable accuracy the investrnent income is reported nel of these costs. 11 is included when the amount can be measured reliably. Interest income is fecogni5ed using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established.
The Roly and June Tonge Foundation Notes to the Financial Statements Year Ended 17 July 2023 {dl Expendlture recognltlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, tt is probable that the setNement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds Expenditure on charitable activities Other expenditure representing those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. (el Support costs allocation Support costs are those that assist the work of the charity bul do not directly represent charitable activities and include office costs, govemance costs. administrative payroll costs. They are incurred directly in support of expenditure on the objects ol the charity and include project management carried out al Headquarters. Where support costs cannot be directly altribuled to particular headings they have been allocated lo cost of raising funds and experhditure on charitable actNities on a basis consistent with use of the resources. The analysis of these costs is iftcluded in note 5. lfj Debtors and creditors Tgcèivabl¢ I payablo wlthin one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Ihl Golng concem The financial statements have been prepared on a going concerrb basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditLI for 12 moTTrlhs frorn aulhorising these financial slalemenls. The budgeted income and expenditure is sufficient with the level of reserves for the charity lo be able to continue as a going concern. Incorne from donations and legacies 17 July 2023 17 July 2022 Legacies 3.812,500 3,812,500 All legacies were attfibutable to unreslricled funds.
The Roly and June Tonge Foundation Notes to the Financial Statements Year Ended 17 July 2023 Income from investments 17July 2023 17July 2022 Interest- deposits 6,798 6,798 All investment income was attributable to unrestricted funds. Analysis ol expenditure on charitsblè activities Charitable activities 17 July 2023 Support costs Total Charitable activities 5.856 5,856 5.856 5,856 There was no expenditure in the year to 17 July 2022. All of the expenditure during the period was attributable to unrestricted funds. Allocatlon of support costs Support cost 17 July 2023 Charitable BcINlties Total Governance 5.856 5.856 5.856 5,856 Governance c05ts 17July 2023 17 July 2022 Auditorfs remuneration - Audit Auditor's remuneration - Accountancy 4,956 900 5,856 14
The Roly and June Tonge Foundation Notes to the Financial Statements Year Ended 17 July 2023 Trustègs. and key management personnel rgmuneration and expenses The trustees neither reiVed nor waived any remuneration during the year117 July 2022". £Nill. The total amount of employee ber)efits received by key management personnel is £Nil117 July 2022 - £Nill. The trustees did not have any expenses reimbursed during the year (17 July 2022 - £Nill. Debtors 17 July 2023 17 July 2022 Other debtors Legacies receivable Prepayments and accrued income 62,500 1.250,000 6,798 1,319,298 Creditors: amounts falling due within one year 17 July 2023 17 July 2022 Accruals and deferred income 5.856 5,856 10 Contingent assets A residual legacy has been left to the charity amounting lo 25.kn of the final estate of Mrs J A Tonge. Two interim payments have been received against this legacy and recognised as income during the year. A further balance is due to be received,. however. the liming and amount of this receipt remain uncertain at the reporting dale. as the estate has not yel been fully finalised. Receipt of this balance is considered probable bul cannot be reliably measured al this lime. 11 Fund reconclliatlon Unrestricted funds Balance at 18July 2022 Gains I Ilossesl Balan al 17 July 2023 Income Expenditure Transfers Unrestricted 3.819,298 15,8561 3,813,442 3,819,298 15,856) 3,813,442
The Roly and June Tonge Foundation Notes to the Financlal Statements Year Ended 17 July 2023 11 Fund reconclllatlon - continued Balance al 18 July 2021 Gains I Ilossesl Balance at 17 July 2022 Income Expenditure Transfers Unrestricted 12 Fund descriptions al Unrestricted funds Fund received for general use by the charity with no restrictions in place. 13 Analysis of net assets between funds All net assets are held as unrestncted funds. 14 Reconeiliation of net Income to net cash flow from operating activities 17 July 2023 17July 2022 Net income for period 3.813.442 Interest receivable Ilncreasel iri debtors Increase in creditors {6,7981 11,319,298} 5,856 Nel cash flow from operating acb'vities 2,493,202 15 Related party transactlons Of the trustees one is a current partner, and the other a former partner and ongoing consultant lo Pickertng & Butlers LLP. a related party that provides professional services to the charity. During the year, no fees were charged for services provided by Pickering & Butters LLP117 July 2022.. £Nill, as at the ye3rnd, no amounts were owed lo Pickering & Butters LLP 117 July 2022.. £Nill. Pickering & Butters LLP held funds of the charity on an inleresl-bearing general client account tolalling £2,500,000 at the year-end117 July 2022. £Nil}. The trustees are also the executors of the eslale of Mrs. J A Tonge. During the year, the estate paid IacY income of £2.500.000 lo the charity (17 July 2022.. £Nil}. These payments were made in accordance with the terms of the will of Mrs. J A Tonge. £1,250,000 was outstanding from the eslale as al the yearnd117 July 2022.. £Nill. The trustees confimi that they received no personal benefit or fees for acting as executors ané that the charity's enlillement was not InflUend by their role as Iruslees. 16