Do¢usign Envelope10." 31E4BD05-EF4143EO-94A4-MOF1AB1 BF87 Charity registration number 1020294 TINSLEY CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Docusign Envelope ID". 31 E4BD05_EF4143EO.94A4_AAOF1AB1 BF87 TINSLEY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees H C Tinsley R C Tinsley J Hogarth S Bartram Charity number 1020294 Principal address 14 St Mary's Street Stamford Lincolnshire PE9 2DF Audltor Price Bailey LLP 36 Tyndall Court Commèrce Road Lynchwood Peterborough PE2 6LR Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Sollcltors Bates Wells 10 Queen Streel Place London EC4R 1 BE
Docusign Enwelope ID.. 31 E48DO>EF41.43EO-94A¢MOF7AB1 BF87 TINSLEY CHARITABLE TRUST CONTENTS Page Trustees, report Statement of twstees, responsibililies Independent auditor's report Stslement of financial activities Balance sheet Statement of cash flows Notes 10 the financial statements 10-18
Docuslgn Envelope ID.. 31 E4BDO>EF41-43EO.94A4-AAOF1ABIBF87 TINSLEY CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees presenl their annual report and financial statemènts for the year ended 31 Ma¥ch 2Q24. The financial statements have been prepared accordance with the accounting policies set out in nole 1 to the financial slalemenls and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191" Objectives and activities The purpose of Ihe charity is lo apply its capital and income to charities and for charitable purposes at the absolute discrelion of Ihe truslees. Public benefit statement We are conscious thal Ihe guidelines issued by the Charity Commission emphasise the requirement that all charities of every kind must be able lo demonstrate that their work is of direct benefit lo the publi¢. Vve believe Ihal the activities we fLtnd through our grants, covering a wide range of issues, are demonstrably of public benefil and ensure through our granting and further monitoring and evaluation that this is the case. The principle objeclive of the chartY is to support many issues and lo achieve public benefit through the distribution of grants and social investments for specific charilable purposes acrDSS the globe. These grants, focusing on small organisations as well as larger established ones, aim to deliver a real and lasting positive impact. In determining ils grant making stratègies and in the administralion of the charity generally, the trustees have paid due regard to the guidance published on public benefit and will continue lo deliver grants as effe¢lively and professionally as possible. Grant-making policy While the charity welcomes applications from eligible potential grantees, the trustees seek oul organisations that will effectively fulfil our objectives. Individual Iruslees have a close working relationship with charitie5 in reGeipt of our larger grants. The charity aims lo spend at least 5./0 of ils net assets on grants each year. Achievements and performance During the year, Ihe charity has continued to support a number of organisations through its grant making activities. The charity made donations and grants of £471.377 (2023. £473,098). Details of the recipients and the sectors supported are listed in the notes lo the financial slatemenls. Income received during the year increased lo £635,300 (2023.. £332,793). There was an increase in donations during the year and investtnenl income remained readily consistent, including rental income received on the charity's investmerFt property. Total unrestricted funds at the year end were £6,958,425 12023-. 6,375,846). The trustees intend lo continue lo distribute the charity's funds in future periods in furtheran¢e of il's objectives. Financial review Our assets are in an account with CAF Bank and in inveslrnent portfolios with Ravenscroft, HSBC Private Bank, Ralhbone Greenbank and Big Issue Foundation. As a re3uII of increased donations received during the year and improved investment performance, our net assets have increased to £6,958,425 The general fund is unrestricted and represents the total reserves of the charity, being £8.958,425. The level of this fund will vary depending on donations received and the level of expenditure. The charity holds this level of reserves in order to generate investments relurns lo provide funding for its charitable ?¢livilies. The charity does not carry oul significant fundraising activities.
Do¢usign Envelope ID.. 31 E4BD05-EF4143EO-94A4-NAOF1A818F87 TINSLEY CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for the future During 2024125 we have budgeted lo make grants totalling just under £500.000. Grants for £25,QOO or over are planned for.. Network for Africa, Waging Peace, Peace Brigades International (UK Section}, Open Trust, Oxford's Worcester Collegè, IPPR, Reprieve, Centre for Health & the Public Interest and the GreenpeaGe Environmental Trust. We are reviewing the possibility of increasing our level of grants from 2025126 onwards. Stru¢turep governance and management The charity was founded by Henry Tinsley in 1993 and its governing document is a Trust Deed dated 15 April 1993. The trustees who served during the year and up to the date of signature of the financial statements were.. T A Jones (Resigned 22 June 2023) H C Tinsley R C Tinsley J Hogarth S Bartram New truslees are appointed as qLtIred by the existing trustees and receive a comprehensive induction on the activities of the charity. As a small granl-giving organisation, the Iruslees manage the charity themselves, with part lime administrative and financial support. The trustees meet once or twice a year, but day to day decisions are made on the basis of e-mail exchange5 and telephone conversations, once the annual budget has been agreed. The trustees have considered the major risks lo which the chaTily is exposed and monitor them regulatly. The Irustees, report was approved by the Board of Trustees. H C Tinsley Trustee 1/3112025 Date..
Docuslgn Envelope ID.. 31 E4BDO&EF4143EO-94A4-AAOF1A31 BF87 TINSLEY CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom AcoountiF)g Standards {United Kingdom Generally Accepted Accounting Pracli¢e}. The law applicable to charities in England and Wales requires thé trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of 3ffairs of the charity and of the incoming resources and application ol resources of the charity for that year. In preparing these financial slalemenls, the trustees are required lo.. select suitsble accounting policies and then appty them consistently- obsefve the methods and principles in the Charilies SORP FRS102', make judgements and estimates that are reasonable and prudenl- state whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements. and prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Irustees are responsible for keeping sufficient accounting records thal disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financia1 statements comply with the Charities Ad 2011, the Charity {A¢counls and Reports} Regulatioris 2008 and the provisions of the trust deed. They are also responsible for safeguarding Ihe assets of the charity and hence for taking reasonable steps for Ihe prevention 2nd d8tection of fraud and other irregularities.
Docusign Envelope ID. 31 E4BDOS.EF41_43EO.94A4-MOF1AB1 BF87 TINSLEY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TINSLEY CHARITABLE TRUST Opinion We have audited the financial slalements of Tinsley Chafitable Trust (the 'charity') for Ihe year ended 31 Marth 2024 which comprise the statement of financial aclivilies, the balance sheet. the statement of cash flows and notes to the financial slalemenls, including significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Slandards, including Financial Reporting Standard 102 The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (United Kingdom Generalty Accepted A¢¢ounting Practice). In our opinion, the financial statements- give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of 115 incoming resources and application of resources, for the year then ended., have been properly piepared in accordance with United Kingdom Generalfy Accepted Accounting Practice., and have been prepared in accordan with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UKII and applicable law. Our responsibilities under those standards are further descfibed in the Audilofs sponSIbl11t18s for the audil of the financial stat8npenfs section of our report. We are independent of the charty in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities accordance with these requirements. We believe that the audit evidenGe we have obtained is sufficient and appropriate lo provide a basis for oui opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Irustees. use of the going concern basis of accounting in the preparalion of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or onditions that, individually or Colleclively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiatlon The other information comprises the information included in the annual report othpr than the financial statements and our auditor's report thereon. The trustees are responsible for the otheT information contained within the annual report. Our opinion on the financial statements doe5 not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other inform31ion and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othewise appears lo be malerially misstated. If we identify suGh material inconsistencies or apparenl material misstatemenls, we are required to determine whèther this gives rise to a material misstalement in the financial slalements themselves. If, based on the work we have performed, we conclude that there is a material misslalèmenl of this other infomialion, we are required lo report that fact. We have nolhing to report in Ihi5 Tegard. 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 (Acmunts and Reports) Regulations 2008 require us to report lo you if, in our opinion.. the information given in the financial statements is inconsistent in any malerial respeot with the trustees, report., or sufficienl a¢counting records have not been kept.. or the financial statements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audit.
Docusign Envelope ID.. 31E4BDOS-EF4Y43EI>94A4-AAOF1AB1BF87 TINSLEY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TINSLEY CHARITABLE TRUST Responsibilities of trustees As explained more fully in the statement of trustees, responsibililies. the Iruslees are responsible for the preparalion of the financial slalements and for being salisfied that they give a true and fair view, and for such internal conlrol as the trustees détermine is necessary lo enable the preparation of financial statements that are free from material misstaternenl, whether due to fraud OT error. In preparing the financial slatemenls, the trustees are responsible for assessing the charity's ability to conlinue as a going concern, disGlosing, as applicable, matters related lo going concern and using the going concern basis of accounting unléss the trustees either inlend lo cease operations, or have no realistic alternative bul to do 50. Auditorfs responsibilities for the audil of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance aboul whether the financial statements as a whole are free from material misstalemenl, whelher due to fraud or error, and to issue an auditor's report that include5 our opinion. Reasonable assuranoe is a high level of assuran bul is not a guarantee thal an audit conducted in acGord2nce with ISAS IUKJ will always detect a material misstalemenl when it exists. Misslalements 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 statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Enquiry of management and those charged wilh governance around actual and potential liligation and claims., Reviewing financial statement disclosures and testing lo supporting documentalion lo assess wmpliance wilh applicable laws and regulations., PerforTning audit work over the risk of management override of controls, including lesling of journal entries and other adjustments for approprialeness. evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting eslimales for bias. Because of the inherenl limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo a material misstatement in the financial statements or non-compliance with regulation. This risk increases thè more that compliance with a law or regulation is removed from Ihe events and transaclions reflected in the financial statemènts, as we will be less likely lo becorne aware of instances of non-complian. The risk is also greater regarding irregularities oc¢urring due lo fraud rather than error, as fraud involves inlenlional Concealment, forgery, collusion, omission or misrepresenlation. A further description of our responsibilities is available on the Financial Reporting Council's website al.. hltps'.11 www.frc.org.uklauditorsresponsibilities. This descriplion forms part of our auditor's report. Other matters Comparative infomalion in the financial statements is derived from the company's prior period financial statements which were not audited. Your attention is drawn to the fact that the charity has prepared financial slatements in accordance with "Accounling and Reporting by Chartties.. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) las amended) in preference to the Accounting and Reporting by Charities." Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulation5 bul has now been wilhdrawn. This has been done in order for the financial statements lo provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
Docusign Envelope ID.. 31 E4BD05-EF4143EO.94A4-AAOF1A818F87 TINSLEY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TINSLEY CHARITABLE TRUST Usè of our report This report is made solely to the charity's Irustees, as a body, in accordance wilh part 4 of the Chartties (Accounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's truslees those matters we are required to stale to them in an aLtditor's report and for no other Pufpose. To the fullesl extent permitled by law, we do not accept Of assltme 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. ¢cio &cLuW C Price Bailey LLP 310 1015 Chartered Accountants Statutory Auditor 36 Tyndall Court Commerce Road Lynchwood Peterborough PE2 6LR Price Bailey LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor ofa company under se¢lion 1212 of the Companies Ad 2006.
Docusign Envelope ID.. 31 E4BD05-EF41-43EO_94A4_AAOF1AB1BF87 TINSLEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Unrestricted funds funds 2024 2023 Notes Income from: Donations and legacies Inveslments 543,664 91,636 248,777 84,016 Total income 635,300 332,793 ènditure on: Raising funds 32,525 32,116 Charitable adivilies 474,818 476.409 Total resources expended 507,343 508,525 Net gainslllosses) on investments 11 454,622 1362,711) Net movement in funds 582,579 {538,443) Fund balances al 1 April 2023 6,375,846 6,914.289 Fund balances at 31 March 2024 6,958,425 6,375,846 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conlinuing adivilies.
Do¢Ltsign Envelope IL). 31 E48D05_EF4143EO_94A4_AAOF1A&18F87 TINSLEY CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Investment property Investments 13 14 225,000 6,517,409 175,000 5,997,369 6,742,409 6,172,369 Current assets Cash at bank and in hand 244,328 256,627 Creditors: amounts falling due within one year 16 (28,312) 128,150) Net current assets 216,016 228,477 Total assets less Guent liabllities 6,958,425 6,400,846 Creditors: amounts falling due after more than one year 17 (25,0001 Net assets 6,958,425 6,375.846 Incomè funds Unrestrtcted fund5 6,958,425 6,375,846 6,958.425 6.375.846 1/31/2025 The financial slatemenls were approved by the Trustees on ......................... $IuAÈd by.. ri H C Tinsley Trustee
Docusign Envelope ID.. 31E4BD05-EF4143EO-94A4.AAOF1AB1 BF87 TINSLEY CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml(absorbed by) operations 19 45,850 1252,483) Investing activitie$ Purchase of investmenls Proceeds from disposal of investments Inveslrnent income received (543,684) 478,136 7,379 {86,277) 151,227 7.365 Net cash (used in)Igenerated from Investing activities {58,149) 72,315 Net decrease in cash and cash equivalents (12.299) (180,168} Cash and cash Èqtsivalenls at beginning of year 256,627 436,795 Cash and cash equivalents at end of year 244,328 256,627
Docusign Envelope ID". 31E4BD05-EF4143EQ-94A4-A4OF1A81 BF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢otsnting policies Charity information Tinsley Charitable Trust is a charity constituted by a trust deed daled 15 April 1993. 1.1 Accounting ¢onvention The financial slalements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and A¢¢ounling and Reportin9 by Charities: Statemenl of Recommended Practice applicable lo charities preparing their accotjnls in accordance wilh the Financial Repctrting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective l January 2019) The charity is a Public Benefrt Entity as defined by FRS 102. The financial statements have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Slalemenl of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been wilhdrawn. The financial statements are prepared in 51erling, which is the functional currency of the charity. Monetary amoLJnts in Ihese financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approvtng the financial slalemenls, the trustees have a reasonable expeclalion thal the charity has adequate resources to continue in operational exislence for the ft)reseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. 1.4 Incoming resources Income is recognised when the chafity 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. Cash donations are re¢ognised on receipt. Olher donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Donations of assets are recognised at fair value. 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activily. The costs of each activity are made L¢P of the total of difect costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single aclivity are allocated directly to that aclivily. Shared costs which contribute to more than one activity and support costs which are not allributable to a single activity are apportioned between those activities on a basis consistent with Ihe use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset'5 use. Expenditure 15 a¢counled for on an accruals basis. Grants payable ar& recognised when the criteria for a constructive obligaliori are mel, payment is probable, il can be measured reliably, and there are no conditions attaching to ils payment that limit recognition. 10-
Docusign Envelope ID.. 31E4BD05_EF41.43EO.94A4_AAOFIABIBF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Atcounting policies Icontlnuedl 1.6 Investment properties Investment propèrty, which is property held to eam rentals andlor for capital appreciation, is initially recognised at cost, which includes the purchase cosl and any diredly altribulable expenditure. Subsequently it is measured al fair value at Ihe reporting end date. The surplus or deficit on revaluation is recognised in profil or loss. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equivalents Cash and cash equivalenls include cash In hand and deposils held with banks. Basic financial assets and liabilities Deblors and creditors wilh no stated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in Ihe slalement of financial activitities. Crltical accounting estimates and judgements In the application of Ihe 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 cilher factors that are considered lo be relev2nt. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an Dngoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects Dnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestrlcted Unrestricted funds funds 2024 2023 Donations and gifts 543,864 248,777 11
DocLtsign Envelope ID.. 31 E4BDO&EF4143EO.94A4-AAOF1ABIBF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from inv*$lments Unrestrt¢ted Unrestrictsd fvnd$ funds 2024 2023 Rental income Income from listed investments Interest receivable 7.140 84,257 239 7,140 76,651 225 91,636 84,016 Raising funds Unrestricted funds Total 2024 2023 Investmenl management cosls 32,525 32,116 32,525 32,116 Charltable activilies Other costs Donations to charitable causes Total 2024 Totsl 2023 Donations lo chari18ble cauges (see note 7) Share of govemanGe cos15 (see note 8) 471,377 471,377 3,441 473,098 3,311 3,441 3,441 471,377 474,818 476,409 12
Docusign Envelope ID.. 31 E4BD05-EF4143EO-94A4-AAOF1AB1BF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations to charitable causes In the interest of transparency, the charily discloses individual gifls of £10,OOQ or more (all are to in51itulions)'. 2024 Cambridge Carbon Footprint Centre for Health & The Public Interest Civic Power Fund Fanshawe College, Canada Free Yezidi Foundation {Nelherlands) Full F2Ct Greenpeace Environmental Trust Impact Accelerator IPPR Kensington & Chelsea Foundation Migrant Democracy Project Network for Africa Open Trust Peace Brigades International UK Public Interesl News Foundation Quadrant Property Management (accommodalion for Ukrainian refug8e family) Reprieve Rownlree Reform Trust (UK Democracy Trust) Waging Pea Other 10,000 25,000 25,000 16.822 12,500 10.000 26,000 25,000 25,000 10,000 10,000 85,000 30.000 23.000 10,000 14,400 25,000 20,000 25,000 43,655 471,377 Don ion anal Environmental Educalion, social welfare and human righls Olher sisb sector.. 61,000 366,722 43,655 471,377 During the year the Charitable Trust donated £25,000 to Worcester College, Oxford. A fLJrther £25,000 of donations have been committed lo and an equal instalment of £25,000 ha5 been paid in the year. The total donation of £85,000 was recognised in 2021122. 13
Do¢usign Envelopè ID.. 31E4BDOS-EF4143EQ-94A4-A40F1AB1 BF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Goveman¢e ¢o$ts 2024 2Q23 Audit and accountancy fee$ Bank charges 3.342 99 3,342 99 3,150 181 3,441 3,441 3,311 Analysed between Charitable activities 3,441 3,441 3,311 Governance costs includes payments to Ihe auditors of £3,342 (2023- £3,150) for audil fees. Truste¢$ None of the trustees lor any persons connected with them) re¢eived any remuneration or reimbursed expensps during the year. 10 Employees The average monthly number of employees during the year was". 2024 Number 2023 Number Total There were no employees whose annual remuneralion was more than £60,IJOO. 11 Nèt gainslllosses) on investments Unrestrlcted Unrestricted funds funds 2024 2023 Revaluation of investments Gainl{lossl on sale of inveslments Revaluation of investment properties 370.965 33,657 50,000 1339,600) {31,111) 8,(100 454,622 (362.711) 12 Taxation The ¢harÈty is exempt from lax on income and gains falling within s8ction 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its chaiitable objects. 14-
Docusign Envelope ID.. 31 E48D05-EF4143EO-94A4-AAOF1AB1 &F87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Investment property 2024 Fair value Al 1 April 2023 Nel gains or losses through fair value adjuslments 175,000 50,000 Al 31 March 2024 225,000 Investrnenl property comprises residential propety. As at 31 March 2024 the trustees h2ve re-assessed the market value following a valuation from R. Longslaff & Co LLP, who are nol connecled with the charily. A fair value adjustment increase of £50,DOO has been accounted for to give a fair value as al 31 March 2024 of £225,000. 15
Do¢usign Envelope ID.. 31 E48Do5-EF4143E94A4-IoF1AB1BF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Fixed asset investments Listèd Unltsted Investments Investments Total Cost or valuation Al 1 April 2023 Additions Valuation changes Investment management fees Dividends and interest received Disposals 5,992,338 543,664 408,327 (34.366) 82.446 (475,OOD) 5,031 5,997,369 543.664 404,622 134,366) 84,256 {478,136) (3,705> 1,810 (3,136) Al 31 March 2024 6,517,409 6,517,409 Carrying amount Al 31 Maich 2024 6,517.409 6,517,409 Al 31 March 2023 5,992,338 5,031 5,997,369 2024 2023 Investments at fair value comprise.. Cash awaiting inveslmenl Listed inveslments Social investmenls 77,651 6,439,758 80,864 5,911,473 5,031 6,517,409 5,997,368 All the above investments (other than cash> are quoted on a recognised UK Stock Exchange or are valued by reference to investments listed on a reco9nised Stock Exchange. The historical cost of the fixed asset investments as at the year end is £5,747,Q28 (2023: £5,482,871). 15 Financial instruments 2024 2023 Financial instruments at fair value through profit or loss Fixed asset investmenls 6,517,409 5,997,369 16-
Docusign Envelope ID 31 E4BD05.EF4143E1>94A4_A40F1AB1 BF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Creditors: amounts falling due within one year 2024 2023 Other creditors Grants payable 3,312 25,000 3,150 25,000 17 Credltors: amounts falling due after more than one year 2024 2023 Grants payable 25,000 18 Related party transactions During the year the Gh2rity received a donation of £nil {2023. £100,000) and received rent of £7,140 {2023'. 27,1401 from H C C Tinsley and Son Ltd. H C Tinsley and R c finsley are directors of H C c finsley and Son Ltd. During the year H C Tinsley donated investments with a market value of £543,664 (2023.. £8G,27n and cash donations of £nil12023.' £50,000} to the charily_ During the year the charity made donations of £25,00012023'. £50,000) to Waging Peace. a registered charity. R C Tinsley is a trustee of Waging Peace. During the year the charity made donations of £85,000 (2023: £50,000) to Network for Africa. a registered charity. R C Tinsley is a Ifustee of Network for Africa. During the year the charity made donations of £20,000 (2023: £20,0001 lo the Joseph Rownlree Reform Trust, a company limiled by guarantee. H C Tinsley is on the Advisory Board to the Joseph Rowntfee Reform Trust's UK Democracy Fund. 17-
Docusign Envelope10." 31 E4BD05-EF4143EO.94A4_A40F1ABfjBF87 TINSLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Cash generated from operations 2024 2023 Surplusl{deficit) for the year 582,579 1538,443) Adjustments for,. Investment income recognised in statement of financial activities (Gain}Iloss on disposal of investrnents Investment managers, fees paid via portfolio Fair value gains and losses on investments {91.6361 {33.6571 34,367 {420,965) (84,018) 31.111 32,115 331,600 Movements in working capilal.. (Decrease) in creditors {24.8381 (24,850) Cash generated froml{absorbed by) operations 45.850 {252,483) 18