IT is reported The Captain Tom Foundation is being investigated by the Government charity watchdog, after releasing its accounts on Monday.

The charity, set-up in June 2020 to continue the fundraising efforts of Keighley-born Captain Sir Tom Moore, published its first audited accounts earlier this week.

The publicly available document covers the period from May 5, 2020 and May 31, 2021.

It received nearly £1.1 million in income over that time, but concerns have been raised regarding some of the records, including "related party transactions".

During the period, the charity gave out just under 15 per cent of that income (£160,000) to good causes - in the form of four £40,000 grants to Willen Hospice, MIND, Royal British Legion and Helen & Douglas House. 

There was £209,433 spent on fundraising support costs, which included: management (£162,336), office (£6,542), IT (£8,280), governance (£32,275).

Overall, the charity used £400,637 and then moved £695,889 in funds.

The "related party transactions" part of the accounts shows that reimbursement costs of £16,097 were made to Club Nook Limited, a company under the control of Captain Tom's daughter, Hannah Ingram-Moore (a trustee of the charity for part of the period and spouse of another trustee).

These costs were for accommodation, security and transport relating to promoting the charity around the UK.

Payments of £37,942 were also made to the Maytrix Group Limited, which is under the joint control of Mrs Ingram-Moore and her spouse.

This was for website costs (£5,030), photography costs (£550), office rental (£4,500), telephone costs (£656) and third-party consultancy costs (£27,205).

These costs were initially funded by the company on behalf of the charity, but were reimbursed when sufficient funds were available.

Mrs Ingram-Moore received expense payments over the period of £1,686 for motor, post, subscription and travel costs.

It has been widely reported that The Charity Commission has an open case looking at the regulatory compliance of the charity.

A spokesperson for The Charity Commission said: "We have been in ongoing contact with the trustees of the Captain Tom Foundation on its set-up and governance arrangements and as part of this work will now assess the charity’s recently submitted accounts."

Meanwhile, Stephen Jones, Chair of Trustees for The Captain Tom Foundation said: "Captain Sir Tom Moore was a beacon of hope around the world.

"Our mission as The Captain Tom Foundation is to continue his legacy of kindness and determination to create positive social change.

"As a young charity, we have been working closely with The Charity Commission since we launched, and we welcome their input following the publication of our recent audited annual accounts."