2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1036285 Report of the Trustees gnd Unaudited Financi41 Statements for the YeAr Ended 31 March 2025 for The CT Thomas Trust Streets Dyke Ruscoe Ltd 110 Corve Street Ludlow SHROPSHtRE SY8 IDJ

The CT Thomas Trust Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees I to 3 Independent Examiner's Report Statement of Finanei41 Actlvities Balance Sheet Notes to the Fin4ncial Ststements 7 to 14 Detailed Statement of Financial Activities 15

The CT Thom*s Trust Report of the Trustees for the Year Ended 31 March 21125 The trustees present their report with the finEuJ¢ial statements of the charity for th¢ year ended 31 Ma￿h 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in aG¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffeGtiv¢ l January 2019). OBJECTIVES AND ACTIVITIES Objectives 4nd aims The objects of the Trust are to apply the annual income of the Trust Fund to such charities or for such charitable objects, in such shares and in such manner in all respects as the Trustees in iheir absolute discretion think fit. The charity is constituted as two funds, the Generdl Fund and Lancashire Designated Fund. It is the present policy of the trustees lo make grants to national, intema¢ional and local charitie5 covering as broad a spectrum of the charitable s¢¢ne as is possible. The beneficiaries of the Trust Fund have changed at various points over the year5. 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, equality and diversity. For the advancement of citizenship 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, heritage or science: For local charitable purposes. For relief of those in need by reason of youth, disability or other disadvantage. For support of the armed forces of ihe 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 dis¢retion to distribute such of the Trust Fund as is deemed necessary and desirable in the same ternis as the in¢ome of the Trust. At the present time the policy of the I￿Ste¢S is not to distribute the Capital of the Trust Fund except in exceptional circumstances. Public benefit The trustees confirm that they have taken the need for public benefit into account when reviewing the Trust's aims and objects and in setting out the grant making poli¢i¢s. The trustees have had regard to the Charity Commission's guidance on public benefit and confirm that every effort is made lo ensure that donations made are for the public benefit. The positive social impact anticipated from eacli grant is considered before a grant 15 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 a¢r05S the UK. A diverse range of public benefit is provided by the many ch￿itIeS supported ea¢h year. as they work to alleviate need and distress. and help people lead more fulfilling lives. Page I

The cr Thomas Trust Report of the Trustees for the Year Ended 31 March 2025 OBJECTIVES AND ACTIVITIES Grantmaking The charity aims to fulfil its objects by providing a yustainable and growing grant-making programme, 5UPPOrting a wide variety of charitable projects and organisations across the UK. The t￿￿te¢S regard themselves as a broad. generalist and predominantly reactive grant maker, with a policy of selecting the best projects from applirations received in order to a¢hieve the maximum possible benefiGial social impact. To ensure a good level of social impact the trustees prefer to fund organisalions which have real difficulty getting funding elsewhere and which demonstrate evidence of effective work meeting a compelling need. For this reason many of the grants are to fund smaller organisations and those without public appeal. ACHIEVEMENTS AND PERFORMANCE During the year ended 31 March 2025 total income amounted to £199,150 {2024: £91.878. Distributions lotalling £97,750 (2024.. £95,250) were tnade to various Charities and £21,083 (2024- £19,625) was used to defray expenses. FINANCIAL REVIEW Fin#nci*l position At the year end stock market investments were held of £2.376,475 (2024.. £2.450.663) together wilh investment property valued al £265,500 (2024.. £265,500). Cash at bank amounted lo £203,810 (2024.. £105,999) which covered creditors of £6,297 (2024: £7,01 O) more than l O times over. Unrestricted funds available for distribution at the end of the financial year were £2,845.362 {2024- £2,819,611). Investment policy 4nd objective8 The investment assets are the primary funding source for the charity, so the perforniance of investments over the long-tern] is vitally important to the long-tern] sustainability of the charity, and the Irnp￿t il can make through the gr8nts it awards. The charity operates a total return approach to investment, with power to spend income and/or capital. The charity has power under its Scheme to invest in stocks, shares, funds. securities and oiher property. The Trustees have appoint¢d professional investment advisors, who in particular advise on investment policy and strategy, assel allocation and the performance of managers. The investment portfolio has the primary long term obje¢tive of maximising sustainable spending from the portfolio in order to support grant-making. Reserves policy Given the objectlves and aims set out above the trustees consider that there is no need for a reserves policy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The CT Thoma5 Trust was estsblished by way of a lifetime gift from the settlor. The charity was constituted by a Declaration of Trust dated 5 March 1994 and is registered in England and Wales, number 1036285. The Trust is privately funded and does not raise funds from external sourres. Recruitment and appointment of new trustees Any new tNstees are ￿¢rUIted and appoint¢d by the existing trustees having considered the skills and experience required. Related parties There were no other related party transactions. Page 2

The CT Thomas Trust Report of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees forn￿lIy review risk on an annual basi5 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 th¢ 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-term and hence the impact of the charity through the grants it awards; to address this the charity has a diversified investment portfolio and processes in place to monitor cash flow and spending> which should minimise the potential for long terni losses. In addition, the trustees take professional advice for investment decision5 from regulated stockbrokers. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity number: 1036285 Trustees: Miss S R Coupe Mr C Morley MrAJDale Mr N E Walker Mrs J V B Newton Mr N C Champion Charity's principal address 38 Teme Street Tenbury Wells Worcestershire WR15 8AA Bankers: TSB PIC 24 Teme Street Tenbury Wells Worcestershire WR15 8AA Solicitors". Norris and Miles 6 Market Square Tenbury Wells Worcestershire WR15 8BW Stockbrokers: EFG Harris Allday Ground Floor Beech House Anchorage Avenue Shrewsbury Business Park SY2 6FG Approved by order￿f tbe boar trust s on .....Q...Tonu.or.y.. .2.0.2.6.. and signed on its behalf by.. A J Dale - Trustee Page 3

Independent Examiner's Report to the Trustees of The CT Thomas Trust Independent examiner's report to the trustees of The CT Thomis Trust I report to the charity truste¢5 On my examination of the accounts of The CT Thomas Trust (the Trust) for the year ended 31 March 2025. Responsibilities #nd basis of report As the charity trustees of the Trust you are responsible for the preparation of ihe accounts in accordance with the requirements of the Charities Act 2011 ('the A¢t'). I report in respect of my examination of the Trusvs account5 carried out 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 st4tement I have completed my examination. I ¢onfirm that no material matters have come to tny attention in connection with the examination giving me Cause to believe that in any material respect.. accounting records were not kept in respect of the Trusl as required by Section 130 of the Act. or the accounts do not accord with those records. or the accounts do not Comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examin&tion to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. S C Davies Streets Dyke Ruscoe Ltd I l O Corve Street Ludlow SHR0PSH￿E SY8 IDJ Date.. ..1I...JL￿L).Q.(.¥.....L.Q.£.G... Page 4

The CT Thom85 Trust Statement of Financial Activities for the Year Ended 31 March 2025 2025 Unrestricted funds 2024 Total funds Notes INCOME AND ENDOWMEiYfs FROM Donations and leg&ies 101,039 Investment in¢ome 98,111 91.878 Total 199,150 91.878 EXPENDITURE ON Raising funds 14.832 15.709 Charitable activities Grant funding activities Governance costs 97.750 6,251 95,250 3.916 Total I l8.833 114,875 Net gains/(losses) on investments (54,566) (61,779) NET INCOMEI(EXPENDITURE) 25,751 (84.776) RECONCILIATION OF FUNDS Total funds brought fonvard 2,819,611 2,904,387 TOTAL FUNDS CARRIED FORWARD 2,845,362 2,819,611 The notes forni part of these financiaI statements Page 5

The CT Thomas Trust Balance Sheet 31 March 2025 2025 Unrestricted funds 2024 Total funds Notes FIXED ASSETS Investments Investments Investment property io 2.376,475 265.500 2.450,663 265,500 2,641.975 2.7l6,163 CURRENT ASSETS Debtors Cash at bank 12 5,874 203,810 4.459 105,999 209.684 110,458 CREDtTORS Amounts falling due within one year 13 (6,297) (7.010) NET CURRENT ASSETS 203,387 103,448 TOTAL ASSETS LESS CURRENT LIABILITIES 2,845,362 2,819,611 NET ASSETS 2,845,362 2,819,611 FUNDS Unrestricted funds 14 2,845,362 2,819,611 TOTAL FUNDS 2,845,362 2,819,611 The financial statements were approved by the Board of Trustees and authorised for issue ..tl...lanuory....20.2.6... and were signed on its behalf by.. on S R Coupe - Trustee AJDa - Trustee The notes forni part of these financial statements Page 6

The Cf Thomas Trust Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the finall¢ial statements The financial statements of the charity, which Is a public benefit entity under FRS 102. have been prepared in a¢¢ordan¢e with the Charitieg SORP (FRS 102) 'A¢counting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in a¢¢ordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical rost onvention, with the exception of investments which are included at market value. The most significant areas of uncertainty affecting the ¢arrying value of assets held by the Trust are the level of investtnent return and the performance of investment markets (see the investment policy and performance and risk management sections of the trustees, annual report for more infonnation). Income All income is recognised in the Statement of Financial Activities once the charity has enliilement to the fijnds, il is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are re¢ognised as expenditure as soon as there is a legal or Construciive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation Gan be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the Galegory. Where costs Cannot be directly attributed to particular lieadings they have been allocated to activities on a basis Consistent witli the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Investment property Investment property is shown at most recent valuation. Any aggregate Surplus or defi¢il arising from changes in fair value is recognised in the Statement of Financial Activities. Fixed Asset investments Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured al their fair value (market value) as at the balance sheet date. The Statement of Financial A¢tivilies includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in the Balance Sheet al the current market value quoted by the investment analyst, excluding dividend. R￿liSed gains And losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on inve$tm¢nls are calculated as the difference between sales proceeds and opening carrying value (purchase date if later). Unrealised gains and losses are cal¢ulated as the difference b¢twe¢n the market value at the year end and the opening ¢arrying value (or purchase date if later). Tax#tlon The charity is exempt from tsx on its charitable activities. Fund &e¢ounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. R¢stri¢ted funds can only be used for particular restricted purposes within the objects of th¢ charity. Restrictions arise when specified by the donor or when funds 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. Pag¢ 7 continued...

The cr Thomas Trust Notes to the Financial Statements- continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Debtors Debtors are amounts owed to th¢ charity. They are reported on the basis of their recoverable amount. Cash 4t bank Cash at bat￿ and in hand is held to meet the day to day rut)ning costs of the charity as they fall due. Creditors Creditors are amounts owed by the charity. They are reported at the amount that the charity expects to have to pay to settle the debt. DONATIONS AND LEGACIES 2025 2024 Donations 101.039 All donations were received from a trustee. The trustees are exercising their statutory exemption not to provide the name of the donor during their lifetime. INVESTMENT INCOME 2025 2024 Investment income Dep051t account interest Stockbrokers, deposit interest 96.769 794 548 90,891 727 260 98,111 91,878 RAISING FUNDS Investment management costs 2025 2024 Portfolio management Property repairs 14,832 14,798 911 14,832 15,709 Page 8 ¢ontinued...

The cr Thomas Trust Notes to the Finallcial Statements - ¢ontinued for the Year Ended 31 March 2025 CHAIUTABLE ACFIVITIES COSTS Grant funding of activities (see note Support costs (see note 7) 6) Tota15 Grant fi￿dIng activities Governance costs 97.750 97,750 6.251 6,251 97,750 6,251 104,001 GRANTS PAYABLE 2025 2024 Advancement of health or saving of lives Advancement of human rights, equality and diversity Advancement of cilizenship or community development Advancement of education Advancement or religion Prevention or relief of poverty Advan¢ement of the arts, culture, heritage or s¢ience 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 for¢es of the Crown Protection of the environment 53,000 EL,000 8,750 1.500 1,000 3.000 3.500 2,000 11,000 1,000 2,000 51.250 10,000 4,500 1,500 7.500 10,000 6,000 2,000 2.500 97,750 95,250 All grants are made to institutions. The trustees are exercising the statutory exemption lo not provide names of re¢ipients during the lifetime of the settlor. SUPPORT COSTS Governance costs Governance costs 6,251 Governance costs Consist of independent examination fees of £1,200 (2024.. £857), accountancy fees of £3,839 {2024.. £1,713), bookkeeping fees of £720 (2024: £768), Solicitors fees of £492 (2024..£NIL) and trustees, remuneration relating to non-trustee duties of £NIL (2024.. £578). Page 9 ontinued...

The CT Thom#$ Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 TRUSTEES, REMUNERATION AND BENEFITS No fees are paid to trustees for normal trustee's duties. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 Ma￿h 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds INCOME AND ENDOWMENTS FROM Investment income 91,878 EXPENDITURE ON Raising funds 15,709 Ch*ritgble 4ctivities Grant funding activities Governance Costs 95,250 3,916 Total 114,875 Net gains/(losse5) on investments (61,779) NET INCOMEI(EXPENDITURE} (84.776) RECONCILIATION OF FUNDS Total funds brought fonvard 2.904,387 TOTAL FUNDS CARRIED FORWARD 2,819,611 Page 10 continued...

The cr ThomAs Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 io. FIXED ASSET INVESTMENTS Listed investments 2025 2024 Market value at 31 March 2024 Additions Disposals Realised gains/(losses) - net Unreali5ed gainsl(losses) - net 2.,450,663 2,539,991 533,492 316,783 (553.114) (344.332) {11,148) (15,025) (43,418) (46.754) Market value at 31 March 2025 2,376,475 2,450,663 Historical cost &t 31 Mar¢h 2025 2.075.200 2.103.165 The additions and disposals of investments during the year are stated after adjusting for stockbrokevs costs:. 2025 2024 Admin Charges Stock Ex¢hange Levy 240 io 260 14 250 274 Inve51ments at market value comprised.. 2025 2024 Equitie5 Fixed interest securities 1,971,326 1,932.250 405.150 518,413 2,376.476 2.450,663 Overseas invested funds included in the figures g4bove'.- Equities Fixed interest securities 83,011 88,863 83,011 88.863 Listed inve5tment5 are held 850/0 in the General fund and 15 /0 in the Lancashire fund, all within unrestricted funds. ii. INVESTMENT PROPERTY FAIR VALUE At l April 2024 and 31 March 2025 265.500 NET BOOK VALUE At 31 March 2025 265,500 At 31 March 2024 265,500 The Investment Prop¢ty is included at an historical valuation from when the property was donated to the Trust. It w&s valued by a professional surveyor. Page 11 ¢ontinued...

The cr Thomas Trnst Notes to the Finaneial Statements - continued for the Year Ended 31 Mareh 2025 ii. INVESTMELYf PROPERTY - continued The property is subject to an Agricultural Tenancy with no succession rights. The Trust a5 landlord is responsible for repairs. 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Investment income debtors 5.874 4,459 13. CREDrroRS: AMOUNTS FALLIIYG DUE WITHIN ONE YEAR 2025 2024 Other ¢reditors 6.297 7,010 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund Lancashire Designated Fund 2,375,059 444,552 33.936 (8,185) (26.759) 26,759 2,382,236 463,126 2,819,611 25,751 2,845,362 TOTAL FUNDS 2.819,611 25,751 2,845,362 Net movement in fund5, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unre$trlcted funds General liind Lancashire Designated Fund 199,150 (118.833) (46,381) (8,185) 33,936 (8,185) 199,150 (118,833) (54,566) 25,751 TOTAL FUNDS 199,150 (118,833) (54,566) 25,751 Page 12 continued..

The CT Thomas Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 14. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestritted funds General fund Lancashire Designat¢d Fund 2,461,406 442.981 {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) 2,819,61l Comparative net movement in ￿nds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unre$tricted funds General fund Lanc&8hire Designated Fund 91,878 (114,875) (52.5 l2) (9,267) (75,509) (9,267) 91,878 {Il4,875) {61.779) (84,776) TOTAL FUNDS 91,878 (114,875) (61,779) {84,776) The unrestricted funds are available to be spent for any of the purposes of the Charity. The Lancashire Designated fund is to specifically aid beneficiaries iri Lancashire. Transfers between funds In a meeting of the trustees held on 15 November 2018 il was agreed that the Lancashire ￿nd would in future be represented by 150/0 of the total funds both as to income after management costs bul before the payment of grants, and investments at their value at each year end. A transfer between funds of £26,759 (2024.. £10,838) has been made to achieve this outcome. 15. RELATED PARTY DISCLOSURES During the year, Norris & Miles Solicitors undertook some legal work for the Twst for the sum of £492. Nick Walker, a trustee, is also a partner of Norri5 & Miles, but, there was no element of remuneration for trustee's duties. Page 13 Continued...

The Cf Thomas Trust Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2025 io. GOING CONCERN The trustees consider that there are no material uncertainties about the ¢harity'S ability lo ¢ontinue and the financial statements have therefore been prepared on a going roucern basis. The trustees have assessed the Charity's cash reserves which are suffi¢Èent to enable its activities to continue for twelve months without the receipt of any additional funds. Page 14

The Ct ThomAS Trust Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations 101,039 Investment income Investment income Deposit account interest StoGkbrokers' deposit interest 96,769 794 548 90.891 727 260 98.111 91,878 Total incoming resources 199.150 91,878 EXPENDITURE Investment m*n4gement costs Portfolio management Property repairs 14,832 14,798 911 14,832 15,709 Charitable activities Grants to institutions 97.750 95,250 Support costs Governance costs Trustee5' fees Legal fees Accountancy Bookkeeping 578 492 5,039 720 2,570 768 6,251 3,916 Total resources expended 118,833 114.875 Net incomel(expenditure) before gAins and losse5 80,317 (22,997) Realised recognised gains ond losses Realised gainsl(losses) on fixed asset investments (11,148) (15,025) Net ineom¢/(expenditure) 69,169 (38,022) This page does not forni part of the statutory financial statements Page 15