REGISTERED CHAIUTY NUMBER: 1036285
Report of the Trustees And
Unaudited Financial StAtements
for the Year Ended 31 March 2024
for
The CT Thomas Trust
Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHIRE
SY8 IDJ

The CT Thomas Trust
Contents of the FinAneiAI Statements
for the Year Ended 31 March 2024
Page
Report of the Trustees
Independent ExAminer's Report
Statement of Financial Activities
Balance Sheet
Note5 to the Financial StAtement$
9 to 16
Detailed Statement of Financial Activiti¢s
17

The cr Thomas Trust
Report of the Trustees
for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the ¢harity for the year ended 31 March 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to clmrities preparing their accounts in a¢cordance with th¢ Financial Reporting Standard applicable in the
UK and Republi¢ of Ireland (FRS 102) (effective l J￿Uary 2019).
OBJEcfIvES AND ACTIvrriES
Objective5 and #ims
The objects of the Trust are to apply the annual in¢ome of the Trust Fund to such charities or for such charitable objects,
in such siiares and in such manner in all respects as the Trustees in their absolute di5¢retion think fit. The charity is
onstituted as two funds. the General Fund and Lancashire Designated Fund.
It is the present policy of the trustees to rnake grants to national, international and local charities ¢overing as broad a
spectrum of the charitable s¢¢ne as is possible.
The beneficiaries of the Trust Fund have ¢hanged at various points over the years, while maintaining the spirit of the
settlor's original intentions. Grants have been made for the following objects..
For the advancement of health or saving of lives,.
For the advancement of human rights, eqiiality and diversity.
For the advancement of ¢itizenship or community development.
For the advancement of education.
For the advancement of religion;
For the prevention or relief of poverty;
For the advancement of the arts, culture. heritsge or science.
For local Ch￿itable purposes.
For relief of those in need by reason of youth, disability or other disadvarntage.
For support of the armed forces of the Crown and
Protection of the environment.
The objects of the Lancashire Designated Fund are As for the General Fund but to aid beneficiaries within the Lancashire
area.
The trustees are also empowered in their absolute discretion to distribute such of the Trust Fund as is deemed necessary
and desirable in the same terms as the income of the Trust. At the present time the policy of the trnstees is not to
distribute the capital of the Trust Fund except in exceptional cir¢umstances.
Public benefit
The trustees confirm th&t they have taken the need for public benefit into account when reviewing the Trnst's aims and
objects and in setting out the grant making policies. The trustees have had regard to the Charity Commission's guidance
on public ben¢fit and confirn] that every effort is made to ensure that donations made are for the public benefit,
The positive social impact anticipated from each grant is considered before a grant is awarded, and monitored. This
enables trustees to be confident that the charity has, through its wide range of grantees, achieved significant public
benefit for a number of vulnerable groups across the UK.
A diverse range of public benefit is provided by the many ¢harAties supported each year, as they work to alleviate need
and distress, and help people lead more fulfilling lives.
Page I

The CT Thomas Trust
Report of the Trustees
for the Year Ended 31 Mareh 2024
OBJECTIVES AND ACTIVITIES
Grantmaking
The charity aims to ￿lfIl its objects by providing a sustainable and growing grant-making programme, supporting a wide
variety of ¢haritable projects and organisations across the UK.
The trustees regard themselves as a broad, generalist and predominantly reactive grant maker, with a policy of seleGting
the best projects from applications received in order to achieve the maximum possible beneficial social impact.
To ensure a good level of social impa¢t the trustees prefer to fund organisations whi¢h have real difficulty getting
funding elsewhere and which demonstrate evidence of effe¢tive work meeting a ¢ompelling need. For this rea50n many
of the grants are to ￿nd smaller organisations and those without public appeal.
ACHIEVEMENT AND PERFORMANCE
During the year ended 31 March 2024 total income amounted to £91,878 (2023.. £90,102). Distributions totalling
£95,250 (2023: £55,743) were made to various charities and £19,625 (2023.. £21.382) was used to defray expenses.
FINANCIAL REVIEW
Financial position
Ai the year end stock market investmenls were held of £2.450,663 (2023.. £2,539,991) together with investment propety
valued at £265,500 (2023: £265.500). Cash at bank amounted to £105,999 (2023.. £98,087) which ¢overed creditors of
£7.010 (2023: £4,441) more than l O times over. Unrestricted ￿ndS available for distribution at the end of the financial
year were £2,819,611 {2023- £2.904,387).
Inve8tmeDt policy and objeetlves
The investment assets are the primary funding source for the charity. so the perforn)ance of investments over the
long-tenn is vitally important to the long-temi sustainability orth¢ charity, and ihe impact it can make through the grants
it awards.
The charity operates a total return approa¢h to investment, with power to spend income andlor capital.
Th¢ charity has power under its Scheme to invest in stocks, shares. funds, securities and other propety. The Trustees
have appointed professional investment advisors, who in particular advise on investment policy and strategy, asset
allocation and th¢ perforniance of managers.
The investment portfolio has the prim&ry long terni objective of maximising sustainable spending from the portfolio in
order to support ￿ant-Making.
Re5erve$ policy
Given the objectives and aims set out abov¢ the trustees consider that there is no need for a reserves poli¢y.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and conSti￿teS an unincorporated ¢harity.
The CT Thomas Trust was established by way of a lifetime gift from the settlor. The charity was ¢onstituted by a
Declaration of Trust dated 5 March 1994 and is regi5ter¢d in England and Wales, number 1036285. The Trust is
privately funded and does not raise funds from external sources.
Recruitment and appointment of new trustees
Any new I￿￿te¢S are recruited and appointed by the existing tnistees having ronsidered the skills and experience
required.
Page 2

The cr Thomas Trust
Report of the Trustees
for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AIW MANAGEMENT
Related parties
During the year, Mr A J Dale. one of the trustees has been paid £578 for administration services.
There were no other relat¢d party transactions.
Risk management
The trustees have a duty to identify and review ihe risks to which the ¢lwity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and e￿Or.
The trustees fornlally review risk on an annual basis as well as when issues arise.
The trustees have reviewed areas of potential risk for the charity and concluded that there are sufficient controls in place
across the organisation.
One of the key risks identified is that of substantial investment losses, which would reduce the amount of money
available for grant-making over the longer-tenn and hence the impact of the ¢harity through the grants it awards. to
address thi5 the charity has a diversified investment portfolio and processes in place to monitor cash flow and spendin8,
which should minimi5e the potential for long tenn losses. addilion. the trnstees take professional advice for
investment decisions from regulated stockbrokers.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charlty number:
1036285
Trustees:
Miss S R Coupe
Mr C Morley
MrAJDale
MrN E Walker
Mrs J V B Newton
Charity's princip*l Address
38 Teme Street
Tenbury Wells
Worcestershire
WR15 8AA
Bankers:
TSB PIC
71 T¢me Street
Tenbury Wells
Worcestershire
WR15 8AQ
Solicitors:
Norris and Mile5
6 Market Square
Tenbury Wells
Worcestershire
WR15 8BW
Sto¢kbrokers:
EFG Harris Allday
Ground Floor
Be¢¢h House
An¢horage Avenue
Sljrewsbury Business Park SY2 6FG
Page 3

Tbe CT ThomAS Trust
Report of the Trustees
for the Year Ended 31 March 2024
Approved by order of the board of trustees on ...13...F£.b.r.u.ar.y....?.o.2.5.. and signed on its behalf by:
A J Dale - Trustee
Page 4

'Independ¢nt Exatniner's Report to the Trustees of
The cr Thomas Trust
Independent examiner's report to the trustees of The CT Thomas Trust
I report to the charity trustees on my examination of the accounts of The CT Thomas Trust (the Trust) for the year ended
31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 (Ihe ACV).
I report in respect of my examination of the Trust's accounts carried oiit under Section 145 of the Act and in Carrying out
my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of
the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
accounting records wer¢ not kept in respect of the Trust as required by Section 130 of the Act. or
the a¢counts do not a¢¢ord wilh those records. or
the accounts do not comply with the applicable requirements concerning the forn and content of accounts set out
in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give
true and fair view which is not a matter Considered as part of an independent examinatiori.
I have no concerns and h&ve come across no other matters in connection with the examination to which attention should
be drawn in this report in order to enable a prop¢r understanding of the accounts to be reached.
S C Davies
Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHll
SY8 IDJ
Dat¢: .1.3.,,F2b.r.uu.y.....£o2fj..
Page 5

The Cf Thomas Trust
Statement of Financial Activities
for the Year Ended 31 March 2024
2024
Unrestricted
funds
2023
Total
funds
Notes
INCOME AND ENDOWMEiYfs FROM
Investment income
Other income
91.878
88,377
1,725
Total
91,878
90,102
EXPENDITURE ON
Raising funds
15,709
16,252
ChAritable Activities
Grant funding activities
Governance costs
95,250
3,916
55,743
5,130
Total
114,875
77,125
Net gainsl(losses) on investments
(61.779)
(159,416)
NET INCOMEI(EXPENDITURE)
(84,776)
(146,439)
RECOIYCILIATION OF FUNDS
Total ￿ndS brought forward
2,904,387
3,050,826
TOTAL FUNDS CARRIED FORWARD
2,819,611
2,904,387
The notes form part of these financial statements
Pag¢ 6

The cr Thomas Tr￿st
Balance Sheet
31 March 2024
2024
Unrestricted
funds
2023
Total
funds
Notes
FIXED ASSETS
Investments
Invesknents
Investment property
2,450,663
265,500
2.539.991
265,500
io
2,716,163
2,805,491
CURREIYf ASSETS
Debtors
Cash at bank
li
4,459
105,999
5.250
98.087
110,458
103.337
CREDITORS
Amounts falling due within one year
12
(7,010)
(4,441)
NET CURRENT ASSETS
103,448
98,896
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,819,611
2,904,387
NET ASSETS
2,819,611
2,904.387
The notes forni part of these finan¢ial ststements
Page 7
continued...

The ￿ ThomA$ Trust
Balance Sheet- ¢ontinued
31 March 2024
FUNDS
Unrestricted funds
13
2,819.611
2.904,387
TOTAL FUNDS
2,819,611
2,904,387
The finan¢ial statements were approved by the Board of Trustees and authorised for issue
ia..F.ebru.Qf.y.....%oR&...... and were signed on its behalf by:
on
S R Coupe- Trustee
A J Dale - Trustee
The notes fonn part of thes¢ financial statements
Page 8

The CT Th0n￿S Trust
Notes to the FinanciAI Statement$
for the Year Ended 31 March 2024
ACCOUNTING POLICIES
BASIS of preparing the finaneial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities- Statement of
Recommended Practice appli¢abl¢ to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),.
FinarL¢ial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Repiiblic of
Ireland, and the Charities Act 2011. Th¢ financial statements have been prepared under the historical cost
¢onvention. with the ex¢eption of investments which are included at market value.
The most significant areas of uncertainty affecting the carying value of assets held by the Trust are the level of
investment return and the perfomiance of investment markets (see the investtnent poli¢y and perfornian¢e and
risk management sections of the trustees, anniial report for more infomiation).
Incom¢
All income is recognised in the Statement of Financial Activities once the charity ha5 entitlement to the ￿nds. it
is probable that the income will be received and the amount can be measured reliably.
ExpeDditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related lo the category. Where costs C￿nOt be directly
attributed to particular headings they have been allocated to activities on a basis Consistent witli the use of
resources.
Grants offered subject to ¢onditions which have not been met at the year end dale are noted as a commttment but
not accrued as expenditure.
Investment property
Investment propety is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in the Statement of Financial Activities.
Fixed asset Investments
Investments are a forni of basic financial instrument. Fixed asset investments are initially recognised at their
transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date.
The Statement of Financial Activities includes the net gains V4nd losses arising on revaluation and disposals
throiighout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value
quoted by the investment analyst. excluding dividend.
Re*lised gains and losses
All gains and10sses 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 opening carrying value (purchase dale if
later). Unrealised gains and losses are calculated as the difference between the market value at the year end and
the opening carrying value (or pU￿has¢ date if later).
Taxation
Th¢ charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the di5cretiork of the trustees.
Restricted funds can only be used ft>r particular restricted purposes within the objects of the Gharity. Restriction5
arise when specified by the donor or when fL￿dS are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 9
¢ontinued...

The CT Tholl￿S Trust
Notes to the FinAneial Statements - continued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - continued
Debtors
Debtors are amounts owed to the charity. They are reported on the basis of their recoverable amount.
Cash at bank
Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due.
Creditors
Creditors are amounts owed by the charity. They are reported at the amount that the ¢harity expects to have to
pay to settle the debt.
INVESTMENT INCOME
2024
2023
Investment income
Deposit account interest
Stockbrokers, deposit interest
90,891
727
260
88,081
248
48
91,878
88,377
IL41SING FUNDS
Investment m*nxgement costs
2024
2023
Portfolio management
Property repairs
14,798
911
15,551
701
15,709
16,252
CHARITABLE AcfiviTIES COSTS
Grant
funding of
activities
(see note
Support
costs (see
note 6)
5)
Totals
Grant fijnding activities
Governance costs
95,250
95,250
3,916
3,916
95,250
3,916
99,166
Page 10
continued...

The cr Thomas Trust
Notes to the Financial Statements - Continued
for the Year Ended 31 March 2024
GRANTS PAYABLE
2024
2023
Advancement of health or saving of lives
Advanc¢ment of human rights, equality and diversity
Advan¢ement of Citizenship or community development
Advancement of education
Advancement or religion
Prev¢ntion or relief of poverty
Advancement of the arts, culture, heritage or science
Gifts for the benefit of a particular locality
Relief of those in need by reason of youth, disability or other disadvantage
Support of the armed forces of the Crown
Protection of the environment
51,250
10,000
4,500
1,500
21,500
9,493
3,000
3,000
7,500
10,000
4,000
3,250
10,500
1,000
6,000
2.000
2,500
95,250
55,743
All grants are made to institutions. The trustees are exercising the statutory exemption to not provide names of
recipients during the lifetitne of the settlor.
SUPPORT COSTS
Governance
costs
Governance costs
3,916
Governance costs consist of independent examination fees of £857 (2023: £883), account￿¢Y fees of £1,713
(2023.. £1,765), bookkeepins fees of £768 (2023.. £1,782) and t￿ste¢S, remuneration of £578 {2023: £700).
TRUSTEES, REMUNEIL4TION AND BENEFITS
During the year, Mr A J Dale, one of the trustees has been paid £578 for administration Sc￿l¢es.
No fees are paid to trustees for nonnal trustee's duties.
Trustee$, expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund5
INCOME AND ENDOWMEiYfs FROM
Investment income
Other income
88,377
1,725
Total
90,102
EXPENDITURE ON
Raising funds
16.252
Pagell
continued...

The cr Thomas Trusl
Notes to the Financial StAtements- eontinued
for the Year Ended 31 March 2024
COMPARATtVES FOR THE STATEMENT OF FINANCIAL ACTIVTfIES - continued
Unrestricted
funds
Charitable activities
Grant funding activities
Governance costs
55.743
5,130
Total
77,125
Net 8ainsl(losses) on investments
(159,416)
NET INCOMEI(EXPENDITURE)
(146,439)
RECONCILIATION OF FUNDS
Total funds brought fonvard
3,050,826
TOTAL FUIYDS CARIUED FORWARD
2,904,387
Page 12
continued...

The cr Thomas Trust
Notes to the Financial St#tement$ - continued
for the Year Ended 31 March 2024
FIXED ASSET INVESTMENTS
Listed investments
2024
2023
Market value At 31 March 2023
Additions
Disposals
Realised gainsl{losses) - net
Unrealised gainsl(losses) - net
2,539,991 2,685.267
316.783
180,794
(344,332) (166,656)
(15,025}
223
{46,754} (159,638)
Market value at 31 March 2024
2,450,663 2,539,991
Historical cost at 31 March 2024
2.103.165 2,234,513
The additions and disposals of investments during the year are stated after adjusting for 5toGkbroker's
costs'.-
2024
2023
Admin Charge5
Stock Ex¢hange Levy
260
14
220
io
274
230
Investments at market value ¢omprised.,
2024
2023
Eqiiilies
Fixed interest securities
1,932,250 2,180,176
518,413
359,814
2,450,663 2,539.991
Overseas invested fiinds included in the figures above:.
Equities
Fixed interest securities
88.863
195,315
88,863
195,315
Listed investments are held 850/0 in the General fund and 15 % in the L&n¢ashire fund, all within unrestricted
funds.
io.
INVESTMENT PROPERTY
FAIR VALUE
At l April 2023
and 31 March 2024
265,500
NET BOOK VALUE
At 31 March 2024
265,500
At 31 March 2023
265.500
The Investment Property is included at an historical valuation from when the property was donated to the Trust.
It was valued by a professional surveyor.
Page 13
¢ontinued...

The cr Thomas Trust
Notes to the Financial Statements- continued
ror the Year Ended 31 March 2024
io.
NVESTMENT PROPERTY- continued
Th¢ property is subje¢t to an Agri¢ultural Tenancy with no su¢¢¢ssion rights. The Trust as landlord is responsible
for repairs.
ii.
DEBTORS: AMOUNfs FALLING DUE WITHIN ONE YEAR
2024
2023
Investment income debtors
4,459
5,250
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other Creditors
7,010
4,441
13.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
funds
At
31.3.24
At 1.4.23
Unrestricled fund8
General fund
Lancasliire Designated Fund
2.461.406
442,98 I
(75,509)
(9.267)
(10,838)
10,838
2.375,059
444,552
2,904,387
(84,776)
2.819.611
TOTAL FUNDS
2,904,387
(84,776)
2,819.611
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
Lan¢&shire Designated Fund
91,878
(114.875)
(52,512)
(9,267)
(75,509)
(9.267)
91,878
{114,875)
(61,779)
(84.776)
TOTAL FUNDS
91,878
(114.875)
(61,779)
(84,776)
Page 14
ontinued...

The CT Thomas Trust
Notes to the Finaneial Statements - continued
for the Year Ended 31 March 2024
13.
MOVEMENT IN FUNDS - continued
ComparAtives for movement in funds
Net
movement
in ￿ndS
Transfers
between
funds
At
31.3.23
At 1.4,22
Unrestrict￿ funds
General fund
Lan¢&qhire Designated Fund
2,594,175
456,651
(122,526)
(23.913)
(10,243)
10,243
2,461,406
442,981
3,050.826
(146.439)
2,904,387
TOTAL FUNDS
3,050,826
(146,439)
2,904,387
Comparative net movement in funds. included in the above are a5 follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrieted funds
General fund
Lancashire Designated Fund
90,102
(77,125)
(135,503)
(23,913)
(122.526)
(23,913)
90,102
(77,125)
(159,416)
(146.439)
TOTAL FUNDS
90,102
(77,125)
(159,416)
(146,439)
The iinrestricted fvnd5 are available to be spent for any of the PUTposes of the charity.
The Lancashire Designated fund is to specifically aid beneficiaries in Lancashire.
Transfers between funds
In a meeting of the trustees held on 15 November 2018 it was agreed that the Lancashire fund would in future be
represented by 15 % of the total funds both as to income after management costs but before the payment of
grants, and investments at their value at each year end. A transfer between funds of £10,838 (2023.. £10,243) has
been made to achieve this outcome.
14.
RELATED PARTY DISCLOSURES
During the year, Mr A J Dale, one of the trustees has been paid £578 for administration services.
There were no other related paty transactions.
Page 15
continued.

The CT Thom4s Trust
Notes to the Financial Statements- continued
for the YeAr Ended 31 Mareh 2024
Is.
GOING CONCERN
The trustees consider that there arc no material uncertainties about the charity's ability to continue and the
rman¢ial statements have therefore been prepared on a going concern basis.
The trustees have Assessed the charity's cash reserves which are sufficient to enable its activities to continue for
twelve months without the re¢eipt of any additional funds.
Page 16

The cr Thomas Trust
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
2024
2023
INCOME AND ENDOWMENTS
Investment income
Investment income
Deposit account interest
Stockbrokers, deposit interest
90,891
727
260
88,081
248
48
9l,878
88,377
Other ineome
Siindry receipts
Other interest
1,673
52
1.725
Total incoming resources
91,878
90,102
EXPENDITURE
Investment management costs
Portfolio management
Property repairs
14,798
911
15,551
701
15,709
16,252
ChArltable Activities
Grants to institutions
95,250
55,743
Support costs
Governance costs
Trustees, fees
Accountancy
Bookkeeping
578
2,570
768
700
2,648
1,782
3,916
5,130
Total resources expended
114,875
77,125
Net (expenditureyincome before ggins and
losses
(22,997)
12,977
Reali5ed rtcognised gains ond losses
Realised gain￿(lOSses) on fixed asset investments
(15,025)
222
Net (expenditure}lincome
(38,022)
13,199
This page does not fom] part of the statutory fIn￿CIal statements
Page 17