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Charity Registration Number

Registered Charity Number : 1183271

THE TELOS FOUNDATION

FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024

THE TELOS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Alan Davies

Peter Ward

Iain Cameron

Sarah Wright

Coralie Hooper
Charity Number 1183271
Company Number 06625059
Registered Office Admiral House
St Leonards Road
Windsor
SL4 3BL
Independent Examiner Andrew Campbell FCCA
Campbell Accountancy Limited
Old Chapel, The Green
Lower Boddington
NN11 6YE

THE TELOS FOUNDATION

CONTENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees' Report

Independent Examiner's Report

Statement of Financial Activities

Balance Sheet

Notes to the Financial Statements

THE TELOS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024 .

Trustees' report and financial statements
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, 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).

Trustees

The trustees who served during the year and up to the date of signature of the financial statements were:
Alan Davies
Peter Ward
Iain Cameron
Sarah Wright
Coralie Hooper


Trustees' responsibilities statement

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

  • select suitable accounting policies and then apply them consistently;
  • observe the methods and principles in the Charities SORP;
  • make judgements and estimates that are reasonable and prudent;
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
  • 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 adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.



This report was approved by the trustee and signed on its behalf by:


----------------------------------------------------
Alan Davies
Trustee

Date : 27 June 2025

THE TELOS FOUNDATION

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

INDEPENDENT EXAMINER'S REPORT

Independent Examiner’s Report to the Trustees of The Telos Foundation

I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which consists of the statement of financial activities,balance sheet and the related notes

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').


Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried
out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiners statement

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:


1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than anyrequirement that the accounts give a true and fair view which is not a matter considered as part of an
     independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their
     accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).


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 accounts to be reached.



Name: Andrew Campbell FCCA

Date: 27 June 2025

THE TELOS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Recommended categories by activity Notes Unrestricted funds
£
Restricted income funds
£
Total Funds 2024
£
Total Funds 2023
£
Income and endowments from:
Donations and legacies 2 37,233 34,563 71,796 59,037
Total 37,233 34,563 71,796 59,037
Expenditure on:
Raising funds 3 205 - 205 172
Charitable activities 4 40,894 34,563 75,457 74,075
Other 6 112 - 112 121
Total 41,211 34,563 75,774 74,368
Net income/(expenditure) (3,978) - (3,978) (15,331)
Net movement in funds (3,978) - (3,978) (15,331)
Reconciliation of funds:
Total funds brought forward 3,983 50 4,033 19,364
Total funds carried forward 5 50 55 4,033

THE TELOS FOUNDATION

BALANCE SHEET

FOR THE YEAR ENDED 31 DECEMBER 2024

Recommended categories by activity Notes Total Funds 2024
£
Total Funds 2023
£
Fixed assets
Investments 7 3 3
Total fixed assets 3 3
Current assets
Cash at bank and in hand 8 55 4,033
Total current assets 55 4,033
Creditors: amounts falling due within one year 9 3 3
Net current assets/(liabilities) 52 4,030
Total net assets or liabilities 55 4,033
Funds of the Charity
Unrestricted funds 10 5 3,983
Restricted income funds 10 50 50
Endowment funds 10 - -
Total funds 55 4,033

For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 27 June 2025 and signed on its behalf by:


Alan Davies
Director
Date : 27 June 2025

THE TELOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting Policies

The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.

1.1 Basis of preparation

These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.

These accounts 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 of Ireland (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

These accounts are presented in pounds sterling and rounded to the nearest pound.

1.2 Going concern

The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Income from donations or grants

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal o'er is made in writing. If a donation or grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.

1.4 Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

1.5 Expenditure

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.

Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.

Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent.

All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.

Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.

1.6 Taxation

The organisation is a registered charity and has no liability to income tax or corporation tax on its charitable activities during the year.

1.7 Fund accounting

Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

2. Income from Donations and Legacies

Analysis Unrestricted funds Restricted income funds Total funds 2024 Total funds 2023
£ £ £ £
Donation and gifts 37,233 33,050 70,283 53,514
Gift Aid - 1,513 1,513 5,523
37,233 34,563 71,796 59,037

3. Expenditure on Raising Funds

Analysis Total funds 2024 Total funds 2023
£ £
Support Costs 205 172
205 172

4. Expenditure on Charitable Activities

Analysis Total funds 2024 Total funds 2023
£ £
Bank charges 9 6
Grants paid 74,207 72,718
Charity management & administration 978 1,161
Support Costs 263 190
75,457 74,075

5. Support Costs

Analysis Total funds 2024 Total funds 2023
£ £
Printing and stationery 410 344
Governance Costs
Accountants fees 58 18
468 362

6. Other Expenditure

Analysis Unrestricted funds Total funds 2024 Total funds 2023
£ £ £
Other Expenditure 112 112 121
112 112 121

7. Investments

Other
£
Carrying(fair) value at beginning of period 3
Add: additions to investments during period* -
Less: disposals at carrying value -
Less: impairments -
Add: Reversal of impairments -
Add / (deduct): transfer in/ (out) in the period -
Add / (deduct): netgain / (loss)on revaluation -
Carrying(fair) value at end of year
3

The company's investments at the balance sheet date in the share capital of companies include the following:


Telos Partners International Limited
Registered office: Admiral House, St Leonards Road, Windsor, Berkshire, SL4 3BL
Nature of business: Licencing of Intellectual Property
Class of share: Ordinary £1 shares representing 100% of the issued equity share capital


2024 2023
Aggregate capital and reserves £7,318 £26,582
Loss for the year
£(19,264) £(10,943)



Tomorrow's Company (Enterprises) Limited
Registered office: Admiral House (c/o The Telos Foundation),St Leonard's Road, Windsor, SL4 3BL
Nature of business: Public relations and communications
Class of share: Ordinary £1 shares representing 100% of the issued equity share capital


2024 2023
Aggregate capital and reserves £(3,447) £(1,650)
Loss for the year
£(1,798) £(989)

8. Cash at bank and in hand

Total funds 2024 Total funds 2023
£ £
Cash at bank and in hand 55 4,033
55 4,033

9. Creditors: Amounts falling due within one year

Total funds 2024 Total funds 2023
£ £
Other creditors 3 3
3 3

10. Charity funds

10.1 Details of material funds held and movements during the CURRENT reporting period

Fund names Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward
£ £ £ £ £ £
Unrestricted funds
3,983 37,233 41,211 - - 5
Restricted income funds
50 34,563 34,563 - - 50
Total 4,033 71,796 75,774 - - 55

10.2 Details of material funds held and movements during the PREVIOUS reporting period

Fund names Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward
£ £ £ £ £ £
Unrestricted funds
9,848 29,001 34,866 - - 3,983
Restricted income funds
9,516 30,036 39,502 - - 50
Total 19,364 59,037 74,368 - - 4,033

10.3 Transfers between funds

This Year

Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -

Last Year

Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -

10.4 Designated funds

There were no designated funds at the year end.

11. Transactions with trustees and related parties

11.1 Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any other benefits from an employment in either the current or previous years for fulfilling their duties.

11.2 Trustees' expenses

None of the trustees have been paid any remuneration or received any expenses for fulfilling their dutiesin either the current or previous years.

11.3 Transaction(s) with related parties

During the year The Telos Foundation received donations of £37,233 (2023: £29,001) from its wholly owned subsidiary company, Telos Partners International Limited.


During the year The Telos Foundation made contributions of £40,563 (2023: £47,251) to Tomorrow's Company (Enterprises) Limited to assist in the funding of research & development work.

12. Average Number of Employees

Average Employees This year
Last year











Total Employees

0 0
Average number of employees during this year : 0 and Last year : 0