Docusign Envelope ID.. BFE3C83E-E94A-48D1-BDA7-328BA4F67D8D Charity No. 1017345 The John Thacker Charitable Trust Trustees, Report and Accounts For the Year Ended 31 March 2025 Cmha
Docuslgn Envelope ID.. BFE3C83E-E94A-4801-BDA7-3288A4F6708D THE JOHN THACKER CHARITABLE TRUST CONTENTS Page Charity details Report of the trustees Independent auditor's report to the trustees Slatement of financial activities Balance sheet Notes lo the accounts
Docusign Envelope ID.. BFE3C83E.E94A.48D1_BDA7_328BA4F67D80 THE JOHN THACKER CHARITABLE TRUST CHARITY DETAILS Trustees & key management personnel Mrs L Norris (Chairman) Mr M J Lough (resigned 8 October 2024) Mr J G Chesworth (resigned 8 October 2024) Mr T R Frier Mr P A Franks MrsMLCox Dr D T Shakespeare (resigned 21 April 2025) Ms A K Van Duyvenvoorde Ms C M Burgess Mrs S Morrison Mrs B J Hodson {resigned 30 June 20251 MrYGV Ahmed Ms R J Adamson Professor R A Aspin (appointed 12 November 2024) Mrs G M Bardin (appointed 31 July 2025) Secretary Reglstered Office Mrs L A Kelly st Calherine's Hospice (Lancashire) Limited Lostock Lane Lostook Hall Preston PR5 5XU Charity Number 1017345 Registered Auditor MHA Richard House 9 Winckley Square Preston PR13HP Investment managers Cazenove Capilal Management 12 Moorgate London EC2R 6DA LGT Vestra LLP 14 Cornhill London EC3V 3NR Page 1
Docusign Envelope ID.. BFE3C83E_E94A.48D1_BDA7_328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST REPORT OF THE TRUSTEES The trustees have pleasure in presenting their report and accounts for the year ended 31 March 2025. 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 trust deed, the Charities Act 2011, and Accounting and Reporting by Charities- Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 published in October 2019. structure, governance and management The Trust was created utilising a bequest left lo St Catherine's Hospice {Lancashire) Limited by John Thacker who died on 18 August 1991. The Trust is registered as a Charity with the Charity Commissioners. Governance arrangements are described in a Governance Manual. The Governance Manual includes sections on the appointment of trustees. It describes the recruitment process, which for recent appoinlments has involved a recruitmenl agency with specialisl knowledge of the sector. Appointments may be made by the board bul they have to be supported by the Association at the AGM. Induction of trustees includes partlGipation in the hospice's induction programme forstaff and volunteers as well as specific components for their role. There is a development programme for trustees that include regular review, training l updating requirements, meeting with CEO I Chair of the Board, attendance at staff and volunteer seminars. The trustees do nol receive any remuneration or reimbursemenl of expenses. The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their lime freely and no trustee remuneration was paid in the year. Further detail on structure, governance and management arrangements can be found within the trustees, repori of Ihe charity, Sl Catherine's Hospice (Lancashire) Limited. Objectives and activities for the public benefit The trustees are required to hold Ihe capital and income of the Trust Fund for the benefit of Sl Catherine's Hospice (Lancashirel Limited, which is a registered charity, number 512186. The trustees Gonfirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing Ihe Trust's aim and objectives and in planning fulure activities. Further detail on how the Trust achieves these objectives can be found within the Iruslees, report of the charity, St Calherine's Hospice {Lancashire) Limited. Achievements and performance The Trust has a surplus of income for the year of £43,842 (2024.. £26,940) after deducting non-charilable expenditure of £13,094 (2024.. £13,719). The net gains or losses on disposals of investments sold during the year and on revaluation of investments at the year-end amounted to net gains of £20,362 (2024.. net gains of £58,003). As a result, total funds carried foNard are £2,470,176 (2024: £2,405,972). Financial review and reserves pollcy Income is being acGumulaled by the trustees to pay for future capital projects and Gover increasing operational costs at the Hospice. Investment policy The Charitable Trust seeks lo presetve the value of its capital, keeping risk levels low, whilst seeking to ensure a rale of return Ihat exceeds that available by keeping the funds in an instant access bank account. To this end, Iruslees have opted to split the reserves up, investing a portion in inslant access, notice and fixed term bank accounts and investing some with experienced investment managers. Page 2
Docusign Envelope ID.. BFE3C83E_E94A.48D1_BDA7.328BA4F6708D THE JOHN THACKER CHARITABLE TRUST REPORT OF THE TRUSTEES {continued) Rlsk management The principal risks faced by the Trusl lie in the performance of investments. This is miligated by retaining expert investment managers and having a diversified investment portfolio. Plans for future periods It is intended that the trustees will undertake a full review of the Investment Policy, it's investments and investment advisers during the forihcoming year, the outcome of which will be reflected in the inveslments the Trust. Trustees, responsibilities 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). The law applicable to charities in England & Wales requires the Iruslees to prepare financial slatements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statemenls, the trustees are required to.. select suitable accounting policies and then apply them consislently. observe the methods and principles in the Charities SORP 2019 IFRS 102)., made judgements and estimates Ihat are reasonable and prudent., state whether applicable 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 il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them Éo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. Audltor The auditor, MHA, previously traded through the legal entity Maclntyre Hudson LLP. In response to regulatory changes, Maclntyre Hudson LLP ceased to hold an audit registration with the engagement transilioning to MHA Audit Services LLP. A resolution proposing that MHA be re-appoinled as auditor of the charity will be pul to the Annual General Meeting. Signed on behalf of the Charity Mrs L Norris - Chalrman November 8, 2025 Dale.. Page 3
Docusign Envelop8 ID.. BFE3C83E.E94A.48D1_BDA7.328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES Opinion We have audited the financial statements of The John Thacker Charitable Trust (the 'charity I for the year ended 31 March 2025 which comprise the Slatement of Financial Activities, the Balance Sheel and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards, including Financial Reporting Standard 102 The FinanGial Reporting Standard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatements.. give a true and fair view of the stale of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of Ihe Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Audiling (UK) IISAS {UKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charily in accordance with the elhical requiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and wa have fulfilled our other ethical responsibilities in accordance with these requirements. We belleve that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial stalemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or Golleclively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least twelve months from when tha financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Page 4
Docuslgn Envelope ID.. BFE3C83E-E94A-48D1-BDA7-328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES {continued) Other information The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does nol cover the other information and, exoept to the extent otherwise explicitly slated in our report, we do not express any form ofassurance 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 statements or our knowladge obtained in the course of the audit or otherwise appears to be materially rnisstated. If we Identify such material inconsistencies or apparent material misstatements, we are required to determine whelher this gives rise lo a malerial misstatemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstalement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsislent in any material respect with the trustees, report., or the charity has not kept adequate accounting records., or the financial slatemants are not in agreement with the aGcounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement sel out on page 3, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such inlernal control as the Iruslees determine is necessary lo enable the preparation of financial slatements that are free from material misslalement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going Concern basis of accounting unless the trustees either intend to liquidate the Gharity or lo cease operations. or have no realistic alternative but to do so. Audltor's responslbilities for the audit of the financlal statements We have been appointed as auditor under seclion 144 of the Charities Act 2011 and report in accordance with regulalions made under section 154 of that Act. Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether dua to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee that an audil conducled in accordance with ISAS (UK) will always detect a material misstatement when it 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 economic decisions of users taken on the basis of these financial slatemenls. Page 5
Docusign Envelope ID.. BFE3C83E-E94A-48D1-BDA7-328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (continued) Irregularilies, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The speGifiG procedures for this engagement and the extent to which these are capable of detecting irregularilies, including fraud is detailed below.. Enquiries with management, about any known or suspected instances of non-compliance with saws and regulations and fraud., Challenging assumplions and judgements made by management, in particular in relation lo future performance; Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness., and Reviewing board minutes. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading lo a material misstatement in the financial slalements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial slalements is located on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibililies. This description fortns part of our auditor's report. Use of our report This report is made solely to the charily's trustees, as a body, in accordance with Part4 ofthe Charities (Accounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullést extent permitted by law, we do not accepl 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 for the opinions we have formed. MHA Statutory Auditor Richard House 9 Winckley Square Preston PR13HP November 10, 2025 Dale: MHA is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. MHA is the trading name of MHA Audit SeNices LLP, a limited liability partnership in England and Wales (registered number OC34555421 Page 6
Docuslgn Envelope ID.. BFE3C83E_E94A.48D1_BDA7.328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Income Endowment funds fund 2025 Total 2024 Total Note Income from Investments 56,936 56,936 40,659 Total income 56,936 56,936 40,659 Expenditure on Raising funds: Investment management costs 13,094 13,094 13,719 Total expenditure 13,094 13,094 13,719 Net income before galnsl (losses) on investments 43,842 43,842 26,940 Net gainsl<losses) on investments 20,362 20,362 58,003 Net incomel(expenditure) 43,842 20,362 64,204 84,943 Transfers between funds Net movement In funds 43,842 20,362 64,204 84,943 Reconciliation of funds: Total funds brought foNard 647,090 1,758,882 2,405,972 2,321,029 Total funds carried forward 690,932 1,779,244 2,470,176 2.405,972 The comparative statement of financial activities can be found in note 8 to the accounts. Page 7
Docusign Envelope ID.. BFE3C83E_E94A.48D1_BDA7_328BA4F67D80 THE JOHN THACKER CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed asset investments 1,165,719 1,136,552 Current assets Cash at bank Accrued income 1,303,584 873 1.268,541 879 1,304,457 1,269,420 Credltors amounts falling due within one year Net current assets 1,304,457 1,269,420 Net assets 2,470,176 2,405,972 Represented by: Unrestricted income funds Unrestricted endowment fund 690,932 1,779,244 647,090 1,758,882 Total funds 2,470,176 2,405,972 These accounts were approved by Ihe trustees on an signed on its behalf Mrs L Norris - Chairman Mrs G M Bardln - Trustee Page 8
Docusign Envelope ID.. BFE3C83E-E94A-48D1-BDA7-328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Basis of accounting and general information The financial statements have been prepared in accordance with Aocounling and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). the Charities Act 2011 and UK Generally Accepted Accounting PracliGe. The financial slatèments have been prepared to give a 'truè and fair. view and have departed from the Charities {Accounls and Reporls) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporiing by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The accounts have been prepared under the historical cost convention as modified by the inclusion of investments at market value. The charity constitutes a public benefit entity as defined by FRS 102. Golng concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainly exists that casts doubt on the Charitable Trust's ability lo continue lo operate. The trustees have considered the level of funds held and Ihe expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The trustees have engaged Ascot Lloyd (formerly known as Cowgill Holloway Wealth Management) to monitor the position of the investments and lo advise accordingly. The trustees will take appropriate action should the risk of erosion of reseNes values arise. Funds structure The trustees hold the capital and income of the Trust Fund for the benefit of St Catherine's Hospice (Lancashirel Limited which is a registered charity, number 512186. Although the Iruslees have the power to distribute capital, the current policy is lo distribute only investment income. The unrestricted income fund on the Statement of Financial Activities represents undislributed income and the unrestricted endowment fund represents capital together with subsequent gains and losses arising on disposal and revaluation. Income Income has been credited lo the income fund on an accruals basis. All income is recognised once the charily has entitlement to the income, there is suffioienl certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the calegory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent wilh the use of the resources. Page 9
Docusign Envelope IO.. BFE3C83E-E94A-48D1-BDA7-328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) Investments Investments are initially recognised al their transaction value and subsequently measured at their market value as al the balance sheel date using the closing quoted market price. The statement of financial activities includes the nei gains and losses arising on revaluation and disposals Ihroughoul the year. All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsèquent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value al the year end and Iheir carrying value. Realised and unrealised investment galns and losses are combined in the Slalement of Financial Activities. Debtors Trade and other debtors are recognised at Ihe settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the Iransfer of funds to a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments Financial inslruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equlty instrument is any contract that evidences a residual interest of the charity after deducting all of its liabilities. Investment income 2025 2024 Interest on bank deposits Dividends 35,036 21,900 20,675 19,984 56,936 40,659 All income was credited lo the unreslricled income fund in the current and previous year. Page 10
Docusign Envelope ID.. BFE3C83E.E94A_48D1.BDA7.3288A4F6708D THE JOHN THACKER CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fixed asset Investments 2025 2024 Movement in fixed asset investments: Market value al 1 April 2024 Additions at cost Disposal proceeds Net inveslmenl gainsl(losses) Movement in cash held on deposit by investment agenls 1,136,552 402,000 {413,647) 20,362 20,452 1,072,284 632,182 {620,418} 58,002 (5,498) Market value at 31 March 2025 1,165,719 1,136,552 2025 2024 Investments at market value comprised: Equilies Bonds Alternatives Cash held by investment managers 358,872 538,799 205,472 62,576 361,260 547,105 186,063 42,124 Total Investments 1,165,719 1,136,552 Cash at bank and in hand 2025 2024 Inslant access accounts Fixed term deposit accounts 822,379 481,205 799,477 469,064 1,303,584 1,268,541 Page11
Docuslgn Envelope ID.. BFE3C83E-E94A-48D1-8DA7-328BA4F67D8D THE JOHN THACKER CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Creditors 2025 2024 St. Catherine's Hospice (Lancashire) Ltd Transactions with trustees and related partles During the year the trustees received no remuneration, benefits in kind or reimbursed expenses12024'. £nil). There were no transactions with related parties. The Trust is consolidated inlo the accounts of St Catherine's Hospica {Lancashire) Limited {company number 01602467 and charity number 5121861. The consolidaled finanoial statemenls of this group are available to the public and may be obtained from Companies House, Cardiff. Analysis of balances by fund Unrestricted Unrestricted income endowment funds fund Total funds 2025 Investments Currenl assets Creditors 1,165,719 613,525 1,165,719 1,304,457 690,932 690,932 1,779,244 2,470,176 Unrestricted Unrestricted income endowment funds fund Total funds 2024 Investmenls Current assets Creditors 1,136,552 622,330 1,136,552 1,269,420 647,090 647,090 1,758,882 2,405,972 Page 12
Doeusign Envelope ID.. BFE3C83E-E94A-4801-BDA7-3288A4F67D8D THE JOHN THACKER CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of financial activities- previous year Unrestricted Income Endowment funds fund 2024 Total 2023 Total Income from Investments 40,659 40,659 27,967 Total income 40,659 40,659 27,967 Expenditure on Raising funds.. Investment management costs 13,719 13,719 15,285 Total expenditure 13,719 13,719 15,285 Net income before gainsl (losses) on Investments 26,940 26,940 12,682 Net gainsl(lossesl on investments 58,003 58,003 {52,182) Net incomel{expenditure) 26,940 58,003 84,943 (39,500) Transfers between funds Net movement in funds 26,940 58,003 84,943 (39,500) Reconciliation of funds: Total funds brought fomard 620,150 1,700,879 2,321,029 2,360,529 Total funds carried forward 647,090 1,758,882 2,405,972 2,321,029 Page 13