## **THE THOMPSON EDUCATIONAL TRUST** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **C O N T E N T S** ## **Page** |Trustees and Advisers|3| |---|---| |Report of the Trustees|4| |Statement of Trustees’ Responsibilities|6| |Report of the Independent Examiner|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Financial Statements|10| |Including Accounting Policies|| 2 ## **TRUSTEES AND ADVISERS** |Trustees|Emma Catharine Robarts| |---|---| ||Lucinda Mary Appleby| |Charity Registered Number|1060745| |Independent Examiner|MJL Accountancy Ltd| ||Pantiles Chambers| ||85 High Street| ||Tunbridge Wells| ||TN1 1XP| |Bankers|C. Hoare & Co| ||37 Fleet Street| ||London EC4P 4DQ| |Stockbrokers|Brooks Macdonald Asset Management (International)| ||Limited| ||5, Anley Street| ||St Helier| ||Jersey JE4 9ZW| 3 ## **THE THOMPSON EDUCATIONAL TRUST** ## **REPORT OF THE TRUSTEES** ## **Introduction** The Thompson Educational Trust (the “Trust”) was set up in February 1997, with the aim of providing funding for the advancement of the education of young people, particularly in the areas of medical research, science, literature, music and sport. ## **Legal and Administrative Information** The Trust is constituted by Deed as a Charitable Trust and administered by duly appointed Trustees. The Trustees who acted during the year are shown on page 3. ## **Charitable Objects** The Trust’s objects are the advancement of the education of the public and in particular (but not so as to limit the generality of the foregoing): 1. The provision of scholarships, exhibitions and bursaries for people under the age of thirty to further their education in the study of science, literature, music and sport. 2. The promotion of research in medical and other scientific subjects, by making grants or otherwise, and the publication of useful results of such research. 3. The promotion of sport at universities, colleges and schools in connection with such education. ## **Financial Report for the Year** During the year to 31 March 2025, the Trust had income of £45,653 (2024: £38,958) and made grants of £38,000 (2024: £32,500). After administration costs, net incoming resources amounted to £4,793 (2024: £3,708). During the year, there was a decrease of 1.7% (2024: increase of 7.4%) in the value of investments reflecting stock market performance. The Trust has cash resources which allow the Trustees to feel no doubt that it can continue as a going concern. The total funds carried forward amounted to £1,320,186 (2024: £1,332,952). 4 During the year the Trust made the following grants: |Endelienta
Saffron Hall Trust
Guildhall School of Music
Schoolreaders
Gathering of the Clans
English National Opera
Northern Ballet
University of Nottingham
Electric Umbrella
Longborough Festival Opera|**£**
500 Music and cultural programme
1,000 Support for concert involving multiple student
choirs
5,000 Bursaries for music students
5,000 Reading for schoolchildren
6,000 Bursaries for music students
8,500 Bursaries for music students
5,000 Bursaries for dance students
5,000 Bursaries for student medical electives
1,000 Support for choir for school children and young
people
1,000Support for young artists programme
38,000| |---|---| ## **Future Plans** Given recent cuts in Arts funding, the Trustees have this year increased support for students in musical education and are likely to continue this approach. The Trustees take advice from Brooks Macdonald on how to invest the Trust’s funds prudently, while trying to maintain income levels. The Trust has no ongoing donation commitments. The policy continues to be to support educational establishments or funds where relatively small contributions can make a significant difference, taking into account the evidence of educational value provided to students by the Trust’s potential donees. ## **Reserves Policy** The Trustees’ policy is to ensure that they maintain adequate resources to meet the objectives of the Trust. ## **Investment Policy** The Trust’s investments are managed by the Trustees with the bulk of the Trust’s assets managed by a stockbroker for discretionary management. The Trustees’ investment policy is to balance investments attracting long term growth with those producing short term income. The Trustees are satisfied with the performance of the investments during the year. ## **Risk Management** The Trustees confirm that they have identified and reviewed the major risks to which the Charity is exposed and have established systems to mitigate them. ………………………. Emma Robarts ## **Trustee** ……………………………. 2025 5 ## **THE THOMPSON EDUCATIONAL TRUST** ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** Charity law requires the Trustees to prepare Financial Statements for each financial year. Charity law further requires that such Financial Statements give a true and fair view of the state of affairs of the Charity and of its financial activities for that year. In preparing those Financial Statements the Trustees are required to: - Select suitable Accounting Policies and then apply them consistently; - make judgments and estimates that are reasonable and prudent; - state whether the policies are in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities and with applicable United Kingdom Accounting Standards, subject to material departures disclosed and explained in the Financial Statements; and - prepare the Financial Statements on the going concern basis, unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the Financial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. 6 ## **THE THOMPSON EDUCATIONAL TRUST** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE THOMPSON EDUCATIONAL TRUST** We report on the accounts of the Thompson Educational Trust for the year ended 31 March 2025 which are set out on pages 8-11. The Trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is our responsibility to: - examine the accounts under section 145 of the Charities Act 2011; - follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and - state whether particular matters have come to our attention. Our examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual item or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the 2011 Act, and - • to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met. ………………………. **MJL Accountancy Ltd** Chartered Accountant Independent Examiner **Pantiles Chambers** 85 High Street Tunbridge Wells TN1 1XP ………………………. 2025 26 November 7 ## **THE THOMPSON EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 March 2025** |**Note**
**Incoming Resources from Generated**
**Funds**
Bank interest
Investment income
**Total Incoming Resources**
**Resources Expended**
**Cost of Activities in furtherance of:**
Charitable expenditure
**Governance costs:**
Audit and accountancy
Bank charges
Custody fees
**Total Resources Expended**
**Net incoming resources for the year**
Net (losses) / gains on investment assets
**Net movement in funds**
Funds brought forward at beginning of year
**Funds carried forward at end of year**|**2025**
**£**
**2024**
**£**
**Unrestricted funds**
12,621
6,306
33,032
32,652| |---|---| ||45,653
38,958| ||(38,000)
(32,500)
(720)
(922)
(367)
(365)
(1,773)
(1,463)| ||(2,860)
(2,750)| ||| ||(40,860)
(35,250)| ||4,793
3,708
(17,559)
70,929| ||(12,766)
74,637
1,332,952
1,258,315| ||1,320,186
1,332,952| The Charity has no recognised gains or losses other than as stated above. All activities of the Charity are continuing. The Notes and Accounting Policies on pages 10 to 11 form part of these Financial Statements. 8 ## **THE THOMPSON EDUCATIONAL TRUST BALANCE SHEET As at 31 March 2025** |**Note**
**Fixed Assets**
5
**Current Assets**
Cash at bank
Deposit
Current
Held by investment manager
**Creditors:**amounts falling due within one
year
Accruals
Grants payable
Total creditors
Net current assets
**Net Assets**
**Unrestricted Funds**|**2025**
**£**
**2024**
**£**
1,005,713
1,027,479
282,772
261,174
24,548
39,761
7,873
5,258| |---|---| ||315,193
306,193| ||(720)
(720)
-
-| ||(720)
(720)| ||314,473
305,473| ||1,320,186
1,332,952| ||1,320,186
1,332,952| Approved by the Trustees on ………………….2025 and signed on their behalf by Emma Robarts …………………. ## **Trustee** The Accounting Policies and Notes on pages 10 to 11 form part of these Financial Statements. 9 ## **THE THOMPSON EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 March 2025** ## **1. Accounting Policies** ## **Basis of Accounting** The Financial Statements are prepared under the historical cost basis of accounting as modified by the revaluation of investment assets and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities and applicable United Kingdom Accounting Standards. ## **Income** All income is accounted for on a received basis. ## **Investments** Investments are included at market value. Gains and losses on the disposal or revaluation of investment assets are accounted for in unrestricted funds on the Statement of Financial Activities (SOFA). ## **Resources Expended** All expenditure is accounted for on an accruals basis. ## **Unrestricted Funds** Unrestricted funds may be used for the purposes of the Charity at the Trustees’ discretion. ## **Taxation** In view of its charitable status, the Trust is not liable to UK taxation on its income and capital gains. The Trust is not registered for VAT and income and expenditure are shown inclusive of VAT on the SOFA where applicable. ## **2. Grant Commitments** The Trustees have no current ongoing commitments to make grants. ## **3. Related Party Transactions with Trustees and Connected Persons** There were no related party transactions during the year. 10 **THE THOMPSON EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 March 2025** ## **4. Staff Costs and Trustee Remuneration** No staff were employed by the Trust during the year (2024 – none) and no Trustee received remuneration for their services to the Trust (2024 - £nil). There was no reimbursement of expenses from the Trust (2024 - £nil). ## **5. Investments** |**Quoted investments:**
Market value at 1 April 2024
Additions at cost
Disposals at valuation
Net investment (losses) / gains
Market value at 31 March 2025
These comprise:
Listed investments|**2025**
**£**
**2024**
**£**
1,027,479
905,902
1,078,061
50,648
(1,082,268)
-
(17,559)
70,929| |---|---| ||1,005,713
1,027,479| ||**2025**
**£**
**2024**
**£**
1,005,713
1,027,479| 11