2024-12-31-accounts

TH FOU TIO TRUSTEES, REPORT AND FINANCIAL STATEMENTS 31st December 2024 Charity Registration No. 1088012

T]PL¥MES FOUNDATION FINANCIAL STATEMENTS For the year ending 31st December 2024 Index Pages OfFicers and Advisors Trustees, Report Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balan￿ Sheet Notes to Financial Statements 10

THAMES FOUtNDATION Officers and Advisors TRUSTEES C Vida O Da Silva A Williams Appointed 5 January 2024 H Shaw-Appointed 5 January 2024 S Cassidy - Resigned 11 April 2024 Chair INDEPENDENT EXAMINER Samir Shah FCA, ATII Ramon Lee Ltd Chartered Accountants 93 Tabernacle Street London EC2A 4BA BANKERS Lloyds TSB Bank plc 9-13 Brompton Road London SW3 1DD REGISTERED ADDRESS 29 Pembridge Square London W2 4DS CHARITY NUMBER". 1088012

THAMES FOUNDATION Trustees, Report The Trustees hereby submit their report and the financial statements of Thames Foundation for the year ending 31st December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity's Principal Objects The Charity's objectives are the advancement of education, the relief of sickness and distress and the relief of poverty through grants to charities, educational establishments. associations and individuals. Achievements and Performance The level of donations to the Charity increased and subsequently, the Charity has been able to likewise increase its charitable giving. This is particularly true in the case of grants to the elderly who have found themselves in difficult financial situations. The assistance provided by the Charity through loans to educational charities have enabled these charities to meet their short term financial obligations and push through with planned projects that may have failed due to shortage of funds. Grant Making Policy and Public Benefit The trustees confirm that in accordance with section 17 of the Charities Act of 2011 they have due regard to public benefit guidance published by the Charity Commission. The Charity invites applications for grants from registered charities and associations that are able to prove their commitment and track record to the advan￿ment of education. Financial assistan￿ is provided for those in need of medical attention or relief from poverty. Special attention is given to individuals who have in the past assisted or who have contributed to the voluntary and charity sector. Financial Review Donations to the Thames Foundation came to £341,179 in the current year representing a small increase of 70k in donations compared to the previous year. Regular donations continue to remain stable and it is foreseen that the level of donations will continue to remain at the same in the next year. Trustees and friends of the Charity continue with its efforts to look for new donors to be able to support its charitable activities.

The high interest deposit account opened last year has once again proved profitable for the Charity as interest from this account for 2024 increased to £26,542 from £15,231 received in 2023. This brought total income for the charity to £367,721 for the year. There was a slight increase in expenditure for individuals grants for the relief of poverty as the total amount of grants moved up to £212,404 from £201,563 in the previous years. Educational Grants for the year only amounted to £2,000. Grants awarded this year for medical purposes £650 as compared to £870 in the previous year. The Charity takes a long-term view of its finances and seeks to make the most of its current funds so that it can continue to focus on supporting those in need of relief from poverty, particularly elderly individuals who have worked for many years in the voluntary or charity sector and now find themselves in financial difficulties. Apart from supporting those in need for the relief of poverty the Charity would like to focus on specific educational charities with grants or low interest loans. Trustees and friends of the Charity continue with its efforts to look for new donors. The amount of £2,027,542 carried fO￿ard to the following year as well as the support of the Charity's long-standing donors assures the future of the Charity and the fulfilment of its commitment to current projects and individuals. Reserves Policy There is no petty cash account and the Charity owns no property. The Charity allocates the income received from donors to support different ventures in keeping with its principal objectives, the amount depending on the level of donations obtained. Each year the income received is expended in furthering the charity's objectives and it has no investments. Its ability to support different ventures depends on the level of donations received in any one year. The Charity does not expend more than it has available and does not go into deficit. As of 31 st December 2024, financial statements showed reserves of £2,027,542 (2023 £1,877,823) made up of unrestricted funds. Investrnent powers and policy The trustees have considered the most appropriate policy for investing surplus funds and have found that bank deposit accounts provide the appropriate combination of security, ac￿Ssibl11tY and income growth. Structure, governance and management Governing document The Thames Foundation is a charitable trust formed by a Declaration of Trust dated 6th December 2000. The organisation is an unincorporated association registered as a charity with the Charity Commission in 2001 (Charity no. 1088012).

Organisation and Trustees The day to day organisation is looked after by the Trustees who monitor the running of the charity in accordance with the agreed aims and needs. The annual accounts, reports and policy are agreed by the Trustees. The work is carried out by the Trustees on a voluntary basis and no salaries are paid. The Charity does not employ any staff and any work for the Charity is done by volunteers. The trustees are duly elected and co-opted under the terms of the Declaration of Trust. New trustees are recruited from voluntary organizations known to the Charity. The new trustees are given all the necessary information about the Charity, its principles and objectives. They are briefed on their role and responsibilities based on the guidance from the Charities Commission on the role of trustees. Risk Management The Trustees have examined the major strategic and operational risks which the Charity fa￿S and can confirm that systems are in place to enable regular reports to be produced so that the necessary steps can be taken to reduce these risks if and when they arise. Related parties The Charity receives generous donations from Trustees.

THAMES FOUNDATION Trustees, responsibilities in the preparation of financial statements The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires trustee(s) to prepare financial statements for each financial year. which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to Select suitable accounting policies and then apply them consistently" Observe the methods and principles of the Charities SORP., Make judgements and estimates that are reasonable and prudent: State whether applicable accounting standards have been followed, subject to any 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 to do business. The Trustees are satisfied that they have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charities Commission including public benefit guidance. The Trustees are responsible for keeping accounting records, which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain and to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Declaration of Trust. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees believe the Financial Statements for the year ending 31 St December 2024 have been prepared in accordance with the above responsibilities. Approved by the Trustees and Signed on their behalf by: Signature". Name of trustee H . cdtP klsK) VIthA DATE 2 Istr C)cr 2G2f

THAN￿s FOUNDATION Independent Examiner's Report to the Trustees of Thames Foundation I report to the Truslees on my examination of the accounts of the Thames Foundation (the Charity) for the year ended 31st December 2024. This report is made solely to the charity's trustees, as a body, in accordance with Ihe Charities Act 2011. My work has been undertaken so thal I might state lo the charity's trustees those matters l am required lo stale to them in an independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for Ihis report, or for the opinions I have formed. Responsibilities and Basis of Report As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirernenls of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of Ihe 2011 Act. Independent Examiner's Ststement Sincelhe charity's gross income exceeded £250.000 your examiner must be a memberofa body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. Your attention is drawn lo Ihe fact that the charity has prepared ftnancial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial slalemenls to provide a true and fairview in accordance wilh Generally Accepted Accounting Practice effective for reporting periods beginning on or afier 1 January 2015. I have completed my examination. I confirm that T)0 matters have come to my 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 charity as required by section 130 of the 2011 Act., or 2 the financial slalemenls do not accord with those records-, or 3 the financial statements do not compw with the applicable requirements conceming the form and contenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a true and fair view which is not a maller considered as part of an independent examination_ I have no concerns and have come across no other matters in connection with Ihe examination lo which attention should be drawn in this report in orderlo enable a proper understanding ofthe financial statements lo be reached. Samir Shah FCA, ATII Ramon Lee Ltd Chartered Accountants 93 Tabernacle Street London EC2A 4BA Date.. 2£

THAMES FOUNDATION Statement of Financial Activities For the year ending 31st December 2024 Notes General Fund Restrlcted Fund Total 2024 Total 2023 INCOME Donations and gifts 341,179 341.179 318,674 Legacie5 Gross interest 26,542 26.542 15,231 Other income Total incoming resources 367,721 367,721 333 905 EXPENDITURE Direct Charitable Expenditure 215,054 215,054 202,433 Management and Administration Others lin¢luding bank charges) 2,888 2,888 165 80 60 Total resources expended 218,002 218,002 202,598 Surplus I IDeficf(} of inGome over Expenditure transferred to Accumulated fund 149,719 149,719 131.307 Accumulated brought forward 1" January 1.877.823 1,877,823 1.746,516 Accumulated fund carried forward 31Si December 2.027,542 2,027,542 1.877,823 CONTINUING OPERATIONS None of Ihe Charity's activities were acquired or discontinued durbng the above two financial periods. TOTAL RECOGNISED GAINS AND LOSSES The Chariiy has no recognised gains or losses other than the above movement in funds for the above financial periods.

THAMES FOUNDATION Balance Sheet For the year ending 315t December 2024 Notes 2024 2023 Debtors Cash at bank ar￿ in hand 1,262,767 982,508 1,258,603 847,220 2,245,275 2,105,823 Current Llabllltieg Accruals Creditors 2,733 215.000 228.000 2.027,542 1,877.823 Aecumulated Fund General Fund At 1 January Surplusl {deficltl for the year 1.877,823 149.719 1.746.516 131,307 2.027.542 1.877,823 Restricted Fund At 1 January Surplusl Ideficlt) for the year 2.027.542 1,877,823 The financial statements were approved by the Trustees on 2L* 2025 and signed on their behalf by: Signature of Trustee: Signature of Trustee.. Name of Trustee: 4. v IIJA Name of Trustee: 10

THAMES FOUNDATION Notes to the Financial Statements For the year ending 3181 December 2024 1. Accounting Policies 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's Declaration of Trust, the Charities Act 2011, FRS 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit 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 Statement 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 withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these 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 The charity's Financial Statements show net surplus of £149,719 (2023 - £131,307) for the year and free reserves of £2,027,54212023 - £1,877,823). The trustees are of the view that these results have secured the immediate future of the charity for the next 12 to 18 months and on this basis the charity is a going concern. 1.3 Charitable Funds Unrestricted funds are available for projects of the charity, to be spent at the discretion of the Trustees. Restricted funds are monies available for specific projects being carried out by the charity and are subject to specific conditions laid down by the donors as to how they may be used. Any subject in restricted funds will be met from the general fund. 1.4 Income General donations are brought into account when received and are grossed up to include the tax recoverable. Investment income is included when receivable. 1.5 Expenditure Expenditure is classified under the principal categories of charitable and other expenditure rather than types of expenses in order to produce more useful information to users of the financial statements.

1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilits'es. 1.7 Financial instruments The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised attransaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.8 Taxation The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. 1.9 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amount receivable at the balance sheet date. 1.10 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 1.11 Cash flow statement The charity qualifies as a small charity and advantage has been taken of the exemption provided by SORP (FRS 102) not to prepare a cash flow statement. 1.12 Volunteers and donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refers to the trustees, annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market- a corresponding amount is then recognised in expenditure in the period of receipt. 12

1. Critical accounting estimates and judgements In the application of the 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 other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. Donations 2024 2023 Donations 99,194 132,349 Gift Aid donations 193,588 149,C60 Tax Refund 48,397 37,265 Total Donations 341,179 318674
3. Direct charitable expenditure 2024 2023 Grants to individuals Grants to Charilies 197,555 189.933 Totsl Grants 215,054 202,433 Grants for Relief of Poverty 212,404 Granls for Educational Purposes 2,000 Grants for Medical Purposes 650 201,563 870 Total Grants 215,054 202.433
4. Net movement in funds Net movement in funds is stated after charging independent examiner's fees of £1,080

5. Debtors 2024 2023 Gift aid claim Loans Total 12,767 1.250 000 1,262,767 8.603 1250 000 1,258,603 13

6. Creditors 2024 2023 Loans Accruals.. Professional Fees 215,000 2,733 228,000 217,733 228,CQO

7. Analysis of net assets between funds Unrestricted funds 2024 Unrestricted funds 2023 Fund balances at 31 December are represented by: Current assetsl{liabilities) 2,027,542 1,877,823 Total 2,027,542 1,877,823
8. Related Party Transactions The Trustees below gave the following donations to Thames Foundation. Both were regular donors prior to accepting the role of trustees in January 2024. 2024 2023 Dr. Anne Williams Helen Shaw 20,120 3,100 5,120 9,560 14