2023-11-30-accounts

REGISTERED CHARITY NUMBER: 1133326 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 'FOR THE YEAR ENDED 30 NOVEMBER 2023 THOMSONQREE CHARITABLE TRUST Lud(mans Duckett Parker Umltod 1110 Elllott Court ¢ov8ntry Bu51ness Park erald Avenuè Coventry Wosl Mldlands CV5 6U8

THOMSON-BREE CHARITA8LE TRUST CONTENTS OF THE FINANCIAL STATEMENTS forthe year ended 30 Nov6mbar2023 Page Report olthg Trustees 1 10 4 Report of the Independont Audltgrs S to 8 statement of Flnanclal A¢tlvlll8S Balanc8 Sh¢¢t 10 No18S to the Flnanclal Stat•m•nts 11 to 17

THOMSON4REE CHARITABLE TRUST REPORT OF THE TRUSTEES fortho year ended 30 November 2023 The truslees wesenl their report with thg financlal statements of the charity for the year endecl 30 Novembgr 2023. The Iwsiees hove adopted thè provlsbns of Accounling and Reporbng by Charities. St&tement of Recommended Pra¢tice applicoble to charflles preparing thelr accx)unls in accordance wlth th9 FiDan(i81 Reporbng Standard aP￿ltable in the UK and Retxjblic of I￿land IFRS 1021 leff8Ctive 1 January 20191. OBJECTIVES AND ACTIVITIES Oblactlves and alms The purposes of Iht Charily is to dlstribul8 th8 Charity's incorne, al the disr.ratinD of ils Trustees. betwé&n thè six chariti95 or Gharitable entibes lor kne1r succ8ssorsl specffjc8lly naméd as potenttal ￿lS￿tIOnary bOner￿laneS under Ihe terms of the Will and Godi¢Hs olth8 Deceased. The 81x 8lylb18 dL%cretlonary bèneflclar￿8 aro the followlrya.'- Royal HospltJ torNguro-Dlsablllly 'AgeUK ' Actors. Benevo￿Trt F￿[1 ' S8ints Church of Allesley, Coventry ' st Mirhael's Church of E88t Coker, Yeovil Llvablllty The DeGeBsed expr&ss8d th8 desire IbLrt ￿thOut IrtPDsl￿ any Irusl or obll9allonl for the Twstees to pay 8 greater proporiion of tho Charitys incoFne to Ihe Actors, Benovol¢nt Fund I"ABF'I. Significant activltles Grant rn8￿ng to any on9 or rnorÈ of the 8P8cified d￿cr8110￿ary benefidarfes 18 the SO￿ adivty of th8 Charily under the teYm5 of Ihe Trust documents. Th8 Tns5te&s' pollcy Is to consdgr fullding for any spgcial reqijirements or praj8c15 subrnitted for consid￿alm)n by any of the discretionary beneficiaries to declde the propDrb'ons of any distribution of incorn8, tsking sucli repre8entstions into accounl. The Trustees have mada dY6trfbulions of incoTnB to five of the above discretionary bÈneffidarrès in th8 cvrrent fiNan¢ial year. The distribution to ABF 1£120,0001 induded the sum of £55,000 which the Trustees had decided to ho5d bad(. in relation lo the distribullon of income in th8 cha￿tyS finandal year ended 301h Novernbgr 2022 because of serious g0Veman￿ Issueswhich ABF had been experienGSng at th81 tSme. Publlc benefft Th¥ Trustees a￿ aware of the requ(remenl for charity trustees lo hav8 regard to the guidanc8 on publlc benefit issued by the Chariles Commission and Gopi8s of the guldance w8re provided to th& Trustees for Ihelr use and for refereneè In 8ceor(Janc8 with their leg81 duty- ACHIEVEMENT AND PERFORMANCE Charitable actlvltles Th6 recipients ol distribubons from the Charity are Iherrbse1ve5 charitable organisations and are acts"v8 in fields of m8diun8. the elde￿y, the disablod, rnsmb8ts former members of the acting profession. in need and the 8dvanrernent of religion &nd p8stor81 coro In tho communllies of WlÈsloy, Coventry East Cokar, The activlties vndertaken by organlsatlons su¢h as theye ar8 ggnordlly regarded as b8nefKial and Ihese partlwlgr bodiès reach a sufficient section of the public, either bec8USe they are national organTrsatlons benefittino £pecrftc dasses of people the elderly, lh8 sid(, Éhe disabbd and Ihfj poor -or because they are lo¢Jl ¢yg2nis2tiong providing assislJnco and support lo tho local community in genèrydl. In many cases, the bonefficlary charfly PIQVld8S T8ertbaca on tho use of Ihe fund5 lo dBmonsiratv hi)w thdf partiGuLqr area acllvRy has benefltted. Invostmgnl perfom)an¢o The Listed Inve8tm8nts have Increased durfng th8 y8ar. In line with tho p&rformance of Ihe wider rnaTket. The Inve$tmenl property portfolio is currently being assessed for its incom8 and capital strgngths. Th8 trusteès wi then declde how to best ulills8 th8 ch&iVs as5els F[￿1￿9 forw8rd. P4gB 1

THOMsON￿REE CHARITABLE TRUST REPORT OF THE TRUSTEES forthe year ended 30 November 2023 FINANCIAL REVIEW Principal fundlnu soure•s The char￿ was fund8d by a substantial leqacy from the Estate of James Rulh8rfaord Thomson-Bre8 I'lho Deceased'l. Th8 assets now held by th8 Charfty generate Interesl, dbiidends and r8rstal Income, end ￿11 also havg realistic potentlal for capit￿ grovAh. Investment pollcy and obloctlves The currenl policy of th9 trustegs Is to malnlain low risk invesbnent8 and to review th￿r prwess overtime. Reserves pollcy The ￿Se￿&S of lh8 charitaue trust are dlsldbutabte at the d1scr8ll0￿ of the trust8&s. The trus18es arè formulaling their IOFVJ term plan for the man8gem8nt of the as$8ts and will tak8 Buch dedsions as are necessary lo enable them to pass appropriate levels of anTrual in¢ome to the di8cr8tion8ry beneficiariès. A6 Such, Ihtr Iruslees have not set a tsrgel levèl of resetves and will gradually control t￿ern ov8r lime lor th8 benefll of the ben2ficiaries.The trustees. Intention is to onsure that the rna￿rtty of the Charftys incorne, each financial yeaT. 15 dlslribuied eiiher in thal financial year or, 81 the latosl, in Ihe ntrxt and Ihe Charity $tr.i>rdingty seeks to1Smit extent ot Its in¢w8 r85erves. The natu￿ of the Charivs oper21ion rneang that it Is unlikety that therè would be suddèn and unexpected ne8d for a paym8nt tTOm Ih6 Chaiiws Sncome atKllor seTves. There are Ilkely lo be opp)rtunlti&s. durlng the next few yeaT5, to onhance Ihe valu8 of the Gharftys pKYtfollo of prop8rties, particularly where a ptoperty may have potènllal lor dev8k)pment. Th8 trustees, view Is that exp¢ndiiur$ Ilor example in relation lo thè p￿para￿On and submi88ion of a planning application to seek to exploit any such dev8bpment) which is dosigned to increase the valuè of a propèrly wilhln the portfolh) ought propedy b8 mat from Capital ralher thgn incom8 re￿￿&S. Th8 samè principla would bé applled to any Improv8ments whith might bo proposed to any prop&rbes withln the POttk)Ilo, whero those Improvern￿ts are deslgnedllntended to Increase the level ol r8nL Run ot the rnill exp8nditUTe on repalrs and mèinlen8nce k m91 oulof income. REVIÉW OF FINANCIAL POSFfioN AND FUTLIRE PLANS Following tho transfer 2015 of a numb&r of real estste 888ets from the Oece8s&J's 8slÈtÈ to Ih8 Ch8Tity. Its financial p05I1Ion rem8ins good. It Is Intentled to rèlain the GOIF investrnent$ 8nd also m08t of Ihe prop8rt1es lo prowde income forthe Charity. The Dther incorning fvnds are divld8nd8 frorn the COIF investments, rents from the propertles. som8 royaltvas and 8 Sma￿ atnount of int&r8St The TTUStees Intgnd to lThvite the charity benÈficraries to submf( to th8m br￿f detaNs to show how the payments which the Chgllty has mad8, to Oalg. havè been us8d and lo provide dets115 15f any projecls for whith Ih8y are seekng fundTng. Th8 Trustees then meet to conslller what di51ribubons should bs made to Ihe pot&ntr'al benefidarles in the next fi'nanaal year. Should the Ch8rity manage a website. Ihg Iwstees accept thal they would be responsible for the malntenance and integiily of the Charity and ffinancial information included on Ihe Charity's websle. Le.gislation in the UK goveming th8 pr£paration and disseminalon of financial staterllents may diffgr from log￿lat￿)n in other jurlsdiclions.Thtr Ilmited natur& of the char￿¢S opetatK>n and the fact that the Charity doès not segk in(x)ma frotn third parUe5 rneans that the trustees con51der Ih&t thEre 1$. ¢wrenUy, no need for the Charity kn have a websTI8 and, ind$8<1, that il 1$ preferable that il doe5 not. Pag8 2

THOMSON-BREE CHARITABLE TRUST REPORT OF THE TRUSTEES forthe yeor ended 30 Novgmb8r 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The ThoJnson-Bre? Charitable Trust 18 a regSstered charity constilutgd. a8 on Unin￿rpor8t0d assodatlon. nder th8 Wll aiid Fltsl and Second Codi¢iL8 of Jam88 Ruth8rfoord Wor5fold Thomson-Br¢8 I Ihe Decease(J'l, who dSed on 1.12.2008. These testatn8ntary dwutnBnts wer& Ifated rgspectively 31.10.1988, 26.9.1989 8nd 22.2.1995. Th8 Grant ol Prob818 lo Ihe Deceased's 8Stat8 was issued out of Oxford Dislrict Probate R8gistry on 10.6.2009.' the executOY5 8nd trustees named on the Grant were Jofvn Cecll Ruddlck and Simon Robert GFtntJlay, being Iwo of the Charity's prestntt￿8leeS. The statutory tK)W8r ol apFMY'nling n8W trusta8S appl￿ to th8 Charfty arKI Is exercis￿e by the cOn￿nuin9 tru5te8s. On 1st August 2021 the then Trustees apwinted S8tnam Slngh Choongh la bawister - sp8cialising in Ihe field of planning lawl as an additional truslee of the Charity. Mr Choongh lives in the Wesl Mldlandg and had axpressed an interest In be¢omlng 8n additiond trustee., hi$ 5ki115, knDwl8dgè and 8xpert15e are expeded to bè p8rt1cul8rty U58ful If any of the posslble developrnent opporlulllttes (or properlles wilhin th8 Charitys portfolio of prc4)eithes should mat8ri81ism. Under tho t￿￿$ of lh& Will and Codi￿ls. Ihe Deceaseds rsiduary èslats was left on charfla￿e tNsls. POW9rs and provislons. cd18ctiv8ly to b8 known as 'The Thom50n-Prg8 Charftablg Trusv, wkNch enllty was reglstsred as a charity wilh nurnber 1133326 on 17 December 2009. Recruitm8nt and appointmentof newtrust888 Th8 trust6&s ara appointed in accordance wlh th8 Will of Jamas Rutherford Thornson-Bree and. at Ihe dale of thls Report. wnstsloljust 3 membpts. Iwo of whom are soll¢it0￿ end th8 otrt8r a barrister. The trustees ar8 Bdively 588klng to rgcrult one OT two additlonal tNstees, with the intendon ol strengthening the trustee body and its skill-set and with a viewto Yuture-woofing the Charity and Its adrnlnbtra￿0n. Organlsatlonal structuro The charitable trust is Controll￿ tyy its twst888 wtth dalegated 8utrorlty pa858d to Go¢Sfrey Payton, chartered 8UTV8yors, lo tnanage the Charlvs propty portrolio on trlr beh8LF. Th8 Trustees meet 1￿M time to tim6 8nd communlcate malnly by lh8 U58 of Zoom, and by 181ephone ernail. Decision5 a5 to distributions to arELI between thÈ discretionary beneficiaries are made in this way, as are decisions regarding the management of the assets, e$pe¢ially lh8 real eslal8 ass&ts owned by the Charity, which f(xThed part of the De￿Se￿,$ assets during hts lrfelime. No tNst88 retnuneration is paid. Inductlon and trarning of new twstees Now tfustees, whon appc¥nted. arg inducted in Ihe opErati￿al requirements ol the charitable Injst and the as88t basÈ Ihat il holds. REFERENCE AND ADMINISTRATIVE DETAILS R￿Istered Charity number 1133326 Prlnelpal address 33 Lychg81e Close Burba90 ￿￿￿k10Y Leicestershire LE10 2ES Trusteès S R Grfndlay J C RuddKk S S Choongh Page 3

THOMSON.BREE CHARIYABLE TRUST REPORT OF THE TRUSTEES for the year 8ndèd 30 W0￿mber 2023 REFERENCEAND ADMINISTRATIVE DETAILS Audltors Luckmans Dudrett Parker Llmlt8d 1110 EIIN)tt Court Coventy Business P>rk Herald Avenue Coventry Wesl MidL9nds CV56UB Soll¢ltor8 Brindley Twi5tT8fft & Jame5. Coventry Bankers Hand&lsbanken Property management Godlr&y- Payton STATEMENT OF TRUSTEES. RESPONSIBILITIES Th8 Irustees aro responsitylè for pr8paring the Report ol the Trustees 8nd the fiTr3ndal staternonts in accord3nGe applicable faw and United KSngdom AGwnling Slandards (United KTrngdom Generally Accepted Acwunting Pracltel. The law applicable to charities in EngTand and Wales, the Ch3rilies Act 2011, Chariiy (Accounts and R&pDrtsl R8gulatlons 2008 anES the pro￿$10n8 of the Itust deed requires Ihe tiusteés to pr8pare finanual slalements for eaGh financial year whl¢h glve a trug arKI lalr vlew of th8 slalo of affairs of the charity and of thg Incornlng resources appllcalion of tssource5, indudlng the Itwma and expgndliute. of the charity tr that period. In preparing Ihose fflnancial slatamonts, the trustees are rwulred to sglècl suit8bla SCCOLmting policies and th8n apply thgm consistèntly.. observ8 the mothods and principles In the Charity SORP.. make judgements 8nd esthnBte5 that 8r& reasonab￿ and prudent,. prepar8 th8 financial slalemenis on the golng con¢8m basls unl95$ 11 Ls Inapproprfate ITJ pr88U¥nO that the charitywill ￿enue In business. The twsteos are responslbto for kegpiny prowr accounb.rg records whl¢h disdose with reasonab18 aecuracy at any lirne the financial ￿$ItH)n of the Gharity and lo enabl8 Ihern tD ar￿Ure that the financial 81at8menls mply with tho Charilles Acl 2011, the Charity (Accounts 8nd Reports) R8gulalions 2008 and the provisions of the trust deed. Th$y are also ￿SponsIble for safeguarding the 8ssets or charity and hetth (or tskin9 reasonable steps for Ilie prÈvontion 8nd dotection of fraud and olh8r Irr0gularitK95. Approved by order of tho bDard of tN8tees on 26 September2024 s￿1 sigNdd OTh its bghalf bv: J C Rudd￿k- Trustee Page 4

REPORT OF THE INDEPENDENT AUDrroR8 TO THE TRUSTEES OF THOMSON-BREE CHARITABLE TRUST Opinion We have au(Stted the finandBI stgtemtrnts of Thomson-Bree Charitsble TEUSt1lhÈ chariw) for th& year end8d 30 November 2023 which ¢ornpri$& the Stat8mellt of Financial ActNits"es. the B8lanc8 Sheet and notes lo the financial statements, Induding a sumrnary of signtfi(3nl accounling polioès. The finanual reporting framework that has been applied in their ￿eparatiO￿ is applicablé law 8Th1 United Kingdom Accounting Stgndards (United Kingdom GenerallyAcoepteil Awounting Practi¢ol. In ouroplnlon the flnandal stalemenls.. oiv& 8 ttuo ond fair VIÈW of Ihe state of the GhallVs afflrs B$ st 30 Nov6mb8r 2023 and of Its Inwmlro ro8ourc8s and app11catlon of resources. for Ihè year Ihen 8nded. havè bogn prop8dy prgpared In a¢corrlanco wlth Unll¢d Klngdom GengraNy kcgpt9d Accounung Practlce," and have been prepared In aC¢Ldan￿ with the reqUi￿rnents ofthe Charitles Act 2011. 8as1s for oplnlon We conduded our audit ifj accordanc8 with Int8mation¥l Standards on Audilng IUKI IISAS {UKII and pplicable law. Dur r8sponslbllthes under those st8ndgrd5 a¥e further d8s¢ribed in the Aud￿Or$. responsibilities for tha audit of th8 financial statem8nls section of our report. We a￿ independent of the charity in accordance with lh8 elhic81 requirements Ih8t are re16v8nt to our audll of the finanual ststements in Ihe UK. induding the FRC'S Ethical Stsnd8rd, and we have fvlfilled our olh8r 8lhical iesponsibilities in a¢tordance with these req￿reMents. We bell8vo that the audit 8vidence we have otth￿ed is 5uffioenl ¥nd appTopriate fo provide g bas15 for OUT opini(￿. Concluslons ielating to going concem In auditlng the financial sl8lements. we have conduded that the trustees. vs9 of lh8 going concem basls of ccoUnti￿ in Ihe prepaTalion of the financial 51at8Thenls is appropriate. Based on the work we have performed. we have not identlfled any materkql ￿n￿rtaIn￿e5 relating lo events c condition5 that, indivKtually or colleclively, may cast srgnlfi¢anl daubt on lh8 charitys atslty to continue as 8 going concein for a pèrrod ol al leasl Iwefve months from wh8n the financial statements are 8UttrK)ri$8d for issue. Our respDnsibilitTes 8nd IhE respcfftslbllities of the trustee$ ¥vllh respect to golng con¢gm ar8 d8scrfb8d in the relevant seclK)n5 of thi5 ieport. Other Informallon The trustees are responslble for the othET intorrnation. The other informalion comprises the information Induded in the Anllual RepKYI, other thaft Ihe Inancial s181ernents and our Rèport of th8 Ind8P8nd8nt Auditors Ihereon. Our opinion on th8 fin8nd81 $lalemenls does not COV8r th8 othèr infom)allon and. 9XCgPt to th8 extent oth&￿s8 8xp4tCi￿Y stated in our rep(rt we do not 8xpr•ss arsy form of assuraricÈ condu8k)n theTeon. In connethon wlth our audit ol the financial ststetnenls, our Tespon$ibillty Is to read th8 other Infomialion and, in doing so, consider whether Ihe other ¥nformallon Is materially InconsTSlenl with the financval slalemenls or our kno￿edge obtalned ln the audit or othetwlse appears to be maierially fflisstatèd. 11 we identify such material Inconsiste￿CleS or 2pparÈnl m818rial mis818tom8nts, we a￿ reouired to detemine whether thls gives rise to a tnaterial misstslèmeni in the finanoal statemonts themselves. If. based on the work we hav8 performed, we conclude thot there is a materiel mi85tatement of thi5 olher Information, w8 aye T8quired ¢0 report thal fael. Wo hav¥ nothirvj to report in this Matters whlch wè are r¥qulred to report by exception We have nolhlng to report in rfrspeGt of the followlng mattors whorg t￿ Charities (Accounts and Report81 Regulats'ons 2008 tequitES lo rEPUrt lo you if. in our opinion. Ine Inlormalon g￿en In ihe Report (sf Uie Tyusld85 is inGuitsi¥itrnl In any matedal re3peGi wilh the finarrA ststgtnÈnis". or sufficient accounting rewrds have not been kept., or th8 finandal sl?lenienls are not in 4ieetnentwth th* 8ccountirvJ record¥ gnd rètums., or we havo not reCe￿ad all th? Inforrnalion and explanalions we requlre for Our8￿rt. Page S

REPORT OF THE INDEPENDE￿(AuDITORs TO THE TRUSTEES OF THOMSON-BREE CHARITABLE TRUST Responslbllitlos of trustee5 A8 explained more lulty In the Stat8mÈnt ol Trustee5' Rosponsibilits'85, Ihe Iruslees are rg$POllStAe for thè preparation of the finanoal statements which givo a true and fair view. and for such ￿￿t￿Mal control a5 Iho trusl88s deterffline is necessary to enable the preparation of financEal statements that are free from mateiial misst8t8menl, whether du? tr) fraud or error. In Prepari￿ the financi￿ statements. the twste@s are responsib]8 for assessing Ihe ¢hariWs abilty to nllnue as a golng concetn, IlS¢11)sing, as apyKabie. maller8 reiaie(¢ io golng concem 8nd u51ng ine golng yncem basis of ac(x)unllng unles5 th8 trustees either Intend to liqukJ818 lh6 charity or lo cease operat￿n5, or have no realistic abmalivè butto do so. Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THOMSON-8REE CHARITABLE TRUST Our rèsponslbll￿Ies forlho audlt of the flnanclol $tat•ments We have beeTr appoinlpd as auditors under S8clion 144 of the Charitres Act 2011 gnd report In wrdanc& with the Act aThl relevant regulatIot￿ mad8 orhavlng effect thereunder. Our obloctivès are io obtaln ￿8$D￿able assurance about whether the financial statements 88 8 thole A￿ free from mttsrial mlsst8tÈmenl, whcthcr duc lo fraud or etror. and to ￿$tse a Roport of the Independent Auditors Ih2l Includes our oiynion. Reasonable 85SUran￿ is a hlgh level ol assurance, but is not a guarantee that an aualt coiiuucu In ac￿ManCe witn ISAS IUKI bvlll alway5 deleGI a rnalerfsl tnl53tatemen( when It ex131s. Misstatements can aris8 from fraud or error and are CDnsldered fflalerld If. Illdivldually or In the aggregalg, thoy could reasonably be expected to influence the economic decisions of users taken on the basis of the88 financlal staiaments. Th9 8)rt8nt to which our pro¢odures are capable of deteeling irwularilles, indudhg ftaud is detsil8d b810w'. Our approach to deslgning audlt procedures by talloring and dlrèolng testlng to gld and support determined level of rtsk. In ¥ésponse. the proc8dur85 we perf(Km to detèrmine th•18vel of llsk include.. - r&fer8nce lo history atKI experience of th& Enbty, and - enquiry of mdn&gem8nt, Includlng obt81nlng and revlewlng supporifny dwumantatlon ￿1)CernSn9 tIE En¢itys 0￿dureS relating to-. o idenlitying and complying wilh laws and r8gulations and wh9ther they w8r8 aware of ony Instan￿ or non-c0mpl.an￿'. o deie¢tion and r8spons8 to risk ol fraud whether they were awar6 ( aw actual ￿ su8pe19d ingt8nces offraud,. Ènd o assessment of the controls ond processes th8ith8 Entity h8s in plaoe to tnftigate rtsk Ourasses8￿ntS ￿ld￿lert the Identfficalon of Ihg f￿k>￿ng potsntlal areas forfrwj.. - managementoverride ofeonlrol.. and - revenue recognition, pariicularly In resped of ddwery 015eN￿S These prO￿￿￿￿s, and Ihe extent to whith they arè capalse of detecting Irregukrlttas, Induding fraud, are d8tailed b61ow'. itl¢ally 8SS8ssed the appropriateness and ts5ting Ihe appli¢aJon of the revenu• and Cost recognition poli¢ie5', lasting the appropriatenass of accounting 8slimat8s, Iwmals and cth8T adjustments made in th8 prepar8tion ofthe flngnclÈl statom¢nt8', - reviewing the Enlrtys accounting policies for non-¢ornpli8nce wth relevant stsndard$,' and - making enquiries of tn8nag6ment and reviewng correspondence with the re18V8tIt èuihorttbs to K18ntify any I￿g￿lant1&S or instanc88 01 non-compliancewilhlgws &tKS 1vwlat￿$. In perforffjing an audit in accordance with UK GAAP. w8 ex9rose professional judgement and mainlain profes$ional scepb'cism throughoutthe audit proc8S8. Thg rl8k of not (t8t8cling ¥ maleridl misstalemenl ie5uttlng In)m fraud is higher than for nn8 r65ulling from error, as fraud tnay involve (dlusioll or oveFride ol internal controls. Ther6 are Inherent lirnitations in the audit PTo¢edures performed. Tho extentto wlllch OUT procedures are caple of dettrcbNJ irregulariti8S. lrtcluding fraud is detailed b8tDW". OL¢[ approath to d88igning audit procedures by tallorlng and directing t&sling lo aid and support Ihe determined level of risk. In rpspDnse. Ihe procodures we perform to dotorming the level ol rlsk include.. - ielerence to hlstory and experience of th• Enbty., and - enqulry of managam¢nt, Includlttg obtalning and r6vlewlng 6UPPOrtlng do¢um•nlallon ¢oncemlng Ihtr Ent11￿S pro¢eilures relaling to". o id8ntifying aiid comptying wth laws and regulalions and whether they were awaie of any Instances or n￿-coMplI2nce', o deleGtion r¢¥3pun¥c to ri¥k of and whothor thoy woro owar8 Df Any aclusl or $ugpB¢lod iilBlanc•¢ offraud,. and o ass8ssmeTrt of thg Gonlrols and proc8SS8sthat the Entity has in place to mitigate rtsk. Our assessments Included the Identmcaiion olthe followlng potential areas for fvaud.. - rnEtnag8rn9nl override ol wntrol.. and - r8V8nil8 recognldon. particul8rly In r88PBCt of delwvery of 88nqC88 These pro¢edure8, and Ihe extenl lo which Ihey are c8p3blg of d&tectiry irregularities, Incl￿£1￿9 fraud, a d81ailed bek)w". Page 7

REPORT OF THE INDEPENDENT AUDITORS TOTHE TRUSTEES OF THOMSON£REE CHARITABLE TRUST crflully as5e5$ed the approp￿alen￿s5 and tesltng the application of the revenue and ¢051 teognition po5iries', testing the appropriateness of eccounting estimates, loumals and olhei adjustfflents mad@ In th8 preparation ofthefinanclal staternÉnk,. - re￿¢WIng Ihe Enlitvs accounting policie8 for n¢Jn-¢ompliance wth r818vant staMards,' and - makino enqulries of managetnont and revlewlng coirespondence with the Televant aulhorit￿ to ident'fy any regularrtie5 or instances of non-complian￿ with laws and regulation$. In perfomlng an audit in a¢coFdancg with UK GW. we exerclsè profession31 judgement and malntaln profes51onal sceptlclsm throughouElhe euOII pioce6S. The risk of not detecting a malerial m1sst8tement re5ulllng fr￿rn fraud 1$ hlgh8r thaF) for on? Tesulllng f￿M ertor. as traud Fn?y involve collusi¢)rt or override of intemal GOTrtiols. The￿ are inherent lirnltations In the audlt procedures performed. A fvrth8r d8sthplon of our responslbll￿s lor th8 audit of tho financial statements is located on the FtnAncial RepoTling Gouncils website at www.frc.org.ukl&ud5torsrespon5ibiiities. Thls desGtipllon forms part ol our Report of th8 Independent Audltors. Use of our report Thls report is rnade Solely to the charity's trustees, as 8 body. In 8ccord8nce with Part 4 of thg Charities IAccounb gnd RÈpcirtsl Regul8tions 2008. Our audit work has begn undertaken so that we mKJht stale to thè charily5 Iiijslees those rnatter3 we are required to slate to them in an auditors, report and for no other purposg. To thtr lullest ext&nt pe￿nItted by law, we do not awpl or assume r8sponSb￿lty lo anyone Ol￿r than thE ¢harity anct th8 charivs tsuste@s as a budy. for our audit work, for this report. or for the oplnions w8 have formed. Luckrnalls Duckett ParkerLimlled 1110 dliott Court Coventry Busln95s Park Her81d Avenue Coventsy Wesl Midlands CV58UB 27 Septetnber 2024 Page 8

THOMSON-BREE CHAR ￿ABLE TRUST STAYEMENT OF FINANCIALACTIVITIES forthE year ended 30 November 2023 2023 Unrestrfcted fund 2022 Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and legaues 12.263 Investment income 212,568 199.792 Total 212.568 212.055 EXPENDITURE ON Ralslng funds 60,291 82.292 Charltable aetlvltles (>ants payabl8 225.0 75.OUD Other 6.073 2,508 Tolal 291.364 159.800 Net galns on Investments 40.901 564,635 NET INCOMEIIEXPENDITURE) {37,8951 616.890 RECONCILIATION OF FUNDS Total funds brought fomard 9,575.716 8.958.826 TOTAL FUNDS CARRIECI FORWARD 9.537,821 9,575,716 The nntos form part of these financial stataments P8oe 9

THOMSON-BREE CHARITABLE TRUST BALANCE SHEET 30 Novembèr 2023 2023 Unrestrlc18d fund 2022 Total funds Notes AXED ASSETS Invèstments Inv8sun8nts Inv¢stmenlpropgty 4,T54,634 4,712.OQO 4.691,233 4.712.OUO 9.466,634 9.403,233 GURRENT ASSETS Debtors Cash at bank 34,155 62.404 15,848 170.418 86,559 188,284 CREDITORS Amounts falling due withln one year 10 115,3721 113.7811 WET CURRENT ASSETS 71,187 172,488 TOTAL ASSETS LESS CURRENT LIABIUTIES 9,537.821 9.575.716 NET ASSETS 9,537.821 9,575,716 FUNDS Unrpslricted ffijnds 11 9.537,821 9,575,716 TOTAL FUNDS 9,S37,821 9.575.716 The finanLyal stalomgnts were approved by the Board of Trusiees atKI 8ulhotts8d for Issuè on 26 Sepletnber 2024 8TKI were Signed on Its behalf by.. J C Ruddick- Trusi88 Thè notes form part of these finan￿al st8tgfft&TtIS Page 10

TAoMSON4REE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS for th8 yearended 30 Novgmb&r 2023 ACCOUNTING POLICIES Bxyls of prèparlno the finan¢ial 8tstement# The fiTrancial statèments of Ihe charity, which Is s public benefit entity under FRS 102, have pr0P8rod in accordan￿ Trmth IhB Charits"¢s SORP IFRS 1021 'Accounting and R8POrting by Chariliès.. Statement of R8¢0mmèndéd Practice applicabla to chariti&s pr8p8ring Ihelr 8ccounls In accordancè with tho Financ121 Reporllng S18nd8r(J applicable in thp UK and R8pulSic of I￿land IFRS 1021 leffec)'ve 1 January 2019y, Finand81 Reporting Standard 102 The ￿nancIal Repor￿n￿ Standard applicable in Ihe UK and Republic of I￿18nd, and the Charities Act 2011. The financial statemen15 have been prepared und8r th8 historical G051 GOnvent￿n, with the excepti(￿ ol Investmgn18 whtch are Included al market volue, as rnodified bythe revalualon ol certaln as$815. Crltlcal accountlng Sudgemenls and Iw $ource8 of 8stlFnatlon uncartalnty The financi81 staternents include the valuation of investment property and lisi8d investments. Due to Ihb nature of these Investsnants, although they are £ncluded in the financi51 staternents at valu88 Ihat 8r8 appropriat8 at that Irne. Ihety aro extemal mark8t f8Ct018 that coutd lead to these eslirnatEd valuath'c￿S charyinu in fvlurè accounting periods. Incohl& All incorne is reGDgni8ed In the St8ternent of FinanGiq1 A¢tiYities once the Charty has ontitl8ment to the nds.11 Is probabl8 thatthe Incotno be ieGeived and th8 amount can be rneasured Td￿bty- Exp8ndltur8 Ilabililies ara re￿g￿lSett as exp¢ndlture as soon as Ihbrè Is a Iggal or construcfva oblEgation commitbng th8 ch8rty to that experdiiure. it is probablg that a transfer of economlc benefits will be required in settlement and the amounl of Ihe obligation can be measured rellably. Expenditure is accounl8d foT on Én accwals basis and has been dassified under h8adinos that aggrega18 all cosl relat8d to Iha category. whe￿ costs cannot b8 diièctly attribut8d to p8rt￿UIar headings they have been albcated to actlvlles on o basls conslstgnl ￿th the use of resources. Gr8nt6 off$rsd $ubR8cI to conditions which h8v8 not been rnet at tl year end dat0 are noted as a ¢ommltment but not a￿rY&d as exp8ndMure. Allocation and apportlonmont of costs Govemance cgsts are &llocaled to ¢harilable actTrtyNes. Investment property and investment6 Investmonl propgrttes ar8 carfi$d al market V81ue in the ffinancial statsments. Any th8hg& In the market v&lu8 8howD a5 gn Unr￿[[sod movetngnl in thtr Sla18m8nt of Finantlal Aclivily. Listèd In￿stM￿nIS aT8 carried at [r￿￿t value in the financlal statements. Any chsng& In the market valu8 18 shown as an unrtya1188d mv8ment in IhB Statement of Financial Acllvily. Taxation The eharity Is exenyl from tax on tls charitab18 aciivities. Fund accountlng UnTrslri¢tad fuiids can be usad in accordanco with Ih@ charitabl8 obloctives al the discreti￿ ol the trustes. Debtors Debtors are M¢awr￿ al th8 value InvolGod net of 8TIy PIOVlslon8 for bad debts. Llabllitiès Liabllilies a￿ measur8d at the amount Ihal tha charlty ai)licipat8s il will pay lo set118 lh8 debt or the arN)unt tl has recplved as 8n advance lor goods or seNitss il mu81 provide. P￿VISIonS for l(ablllt10S are measured al th8 charit￿$ bgsl eslimale ol the sgillement amount. P4911 ¢onlinLEd...

THOMSON.BREE CHARITABLE TRUST OTes TO THE FINANCIAL STATEMENTS- contlnued forthe year•nded 30 Novernbar 2023 INVEsTMeNT INCOME 2023 2022 R8nis received Royallle6 Dlvidends Deposii a¢￿￿n[ Int£r6st 77,325 1,152 130,263 3,823 79.176 2,003 118,552 e1 212.568 199.792 RAISING FUNDS InvÈstm8nt managemenl costs 2023 2022 Rent colledion Property rèpalrs maInten8n￿Cherg8S Insurance Council tax Bank chatges Heat and Light ProfessioTral Fees Sundry Expenses 1,150 2,842 3,788 g,681 11,367 390 2,645 28,314 19671 2,822 3,712 8,708 6,632 252 3.294 57,623 16 60.177 82,292 AUDITORS. REMUNERATION 20?3 2022 Fe88 payable to charfV5 audllors forthe auditofthe charity's financial *atements 2,538 1,86D TRUSYEES. REMUNERATION AND BENEFITS There We￿ no Irustees, remuneration or other bènerits for th8 y8ar ended 30 Novernb8r 2023 nor for the year ended 30 Nov8mber 2022. Tru$tses' exp8n5es There were no trustees, expenses pa￿ for the year onded 30 Novemb8r 2023 noT for the year ended 30 NovembÈr2022. Pagg 12 continued...

THOMSON-BREE CHARITABLE TRUST NOTES TOTHE FINAN¢iAL STATEMENTS- contlnued for theyear endod 30 Novèmbèr 2023 COMPAIIATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unre8tricled fvnd INCOME AND ENDOWMENTS FROM Donations and legaues 12,263 Investment income 199,792 Total 212.055 EXPENDITURE ON RaI￿ng fLwds 82.2g2 Chailtable aGtlvlÉles Grants Pay8bfe 75.(MlO Olher 2,508 Total 159,800 N8t gains on InvÈstsn8nts 564.635 NET INCOME 616,890 RECONCILIATION OF FUNDS Total funds brought fo)ward 8.958.826 TOTAL FUNDS CARRIED FORWARD 9,575.716 FIXED ASSET INVESTMENTS 2023 2022 Sharc8 4,554.634 200,000 4,503.733 187.500 4.754,634 4,691,233 Page 13 continue¢J...

THOMSON-BREE CHARkTABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued for thè yaar onded 30 Novembèr 2023 FIXED ASSET INVESTMENTS- continuod Addltlonal Inforrnathon as follows.. L&sled Inve8trnents MARKET VALUE At 1 December 2022 AdditlOn5 Revaluations 4,503,733 10,QOO 40.￿)1 At 30 November 2023 4.554,634 NET BOOK VALUE At 30 November2023 4.554,634 At 30 NovBmber 2022 4,503,733 other loans At l December 2022 Other movements 187,500 12,SOO At 30 November2￿23 200.000 There w8r8 m investment assets outsid9 the UK. Cost or v8luabon at 30 Novernbw 2023 is represenltrd by. L￿ted investmenis ValustlDn In 2018 Valuation in 2019 Valuallon 2020 Valuation in 2021 Valuallon In 2022 Vglualion in 2023 Cost e5.062 279,936 46,578 397.139 1233,7651 40.9Q1 3,gS8,783 4,554,634 Thè listed iMve5tsn8nts ar0 ¢arri8d al marf(gt Value as provided by CCLA in respect of COIF Charitse8 Inv851rnent Fund- Inc(xn8 units. The "Oih8r loan" is a Legal Charge over a propety. The valuè of Ihe charoe Increases wSth 8ach anniversary of Ihe Legal Charg8 which are éependenl upon condTlions wlhin ihe Legal Charge aocumoni. Pag8 14 (x)ntinued...

THOMSON.BREE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnuod for the yearended 30 November 2023 INVESTMENT PROPERTY FAIR VALUE Al 1 Dgoember 2022 and 30 November 2023 4.712.000 NETBOOKVALUE At 30 Novamb8r2023 4.712.000 At 30 November 2022 4,712.0(Kl The Snve5trnent properties were valued by Godfrey- Payton when th&y were re￿Wed by the charitable trust on 13th March 2015. Th8y W8T& subsequently informally re-assess8d by Godfrey - Payton as at 30th November 2019 but without a full revÈluatioft exercse havino been undertaken.. the Net Book Value of tho Investment Properties ts the figurè fmm that infoFmal re-2ssèssment. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Otherdebtors Prepaym&nls and a¢crued In¢om6 Prep8ym8nts 8,935 16,868 8.352 5.495 5.015 5,338 15,848 10. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2D22 Olh8I cr8ditors Acrwals a￿d defe￿d In(x) AGGru8d expenses 1,946 9.829 3,597 9.937 3.844 15,372 13.781 Deferr6d Incomlng r650urc65 Rent has been def&r￿d to fulure periods on a time apportionrnent basi8. The amount C8rri8d foTward represents rent rocaived during tho yearthat ielal¢ (o th9 fulluwiiig accounting p8rtod. MOVEMENT IN FUNDS Ntrt movement in funds At 1.12.22 30.11.23 Unrestricted fund$ GenerBI fund 9,575.716 137.8951 9,537,821 roTAL FUNDS 9,575.716 137.8951 9.$97.1121 Page15 ntsnued...

THOMSON-BREE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS. continued for tho year gnded 30 Novpmber 2023 MOVEIJJENT IN FUN05- ¢ontlnu8d Net movement ID fuTrdb", InGludEd in Ihe above a￿ as fdk)w5". Incoming resourceg Res￿r0e6 Galns and Movement expended losses in fvnds Unre51ricted funds Genwal fund 212.568 1291,3641 40.￿1 137.8g5) roTAL FUNDS 212.568 1291.8641 40.901 {37,8951 Comparatlves formovÈm&nt In funds Not movement in funds At 1.12.21 30.11.22 Unrestrf¢ted funds General fund 8,958,826 618.890 9.575,716 TOTAL FUNDS 8,958,826 616,890 9,575,716 Cornpar81iv8 nel rnovemenl funds. included in thè above ar8 Bslollows.. R8source$ @xpended In(x)n3ing re6Dur¢es Coins and lossa$ Movem￿1 irj funds Unrestrlctsd funds General fund 212,055 li￿,800) 564,635 616,890 TOTAL FLINDS 212,055 1159,8001 564,635 616,8%X> A cUrrent￿r 12 Fnonlhs and prKY ye8r 12 tnonths combined position k AS fdlows: Net rnovement In funds At 1.12,21 At 30.11.23 UnrastrJ¢ted funds GpnEFal fund 8.958,826 578,995 9,537.821 TOTAL FUNDS 8.958,826 578,995 9,537,821 Page 16 coiilinvots...

THONISON-BREE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT8- continued ftbrthe year ended 30 NovembÈr2023 11. IJiOVEMENT IN FUNDS- contlnued A current year12 nxJnths and prior y8ar 12 months combined net movement In fvnds, Induded in the above are fjsfollows-. Incoming resour R8sour @xp8ndgd Galns and Iosseg Movement In funds UnrostrfGt8d funds General lund 424.623 1451.ie41 605.538 578.995 TOTAL FUNDS 424.fi23 1451,1641 605.536 578.995 12. RELATED PARTY DISCLOSURES Th¥rè were no related p3rtyfrans8cthons forthe ye8T wided 30 Novernber 2023. Pagp 17